# Krensavage Asset Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1609251. Source: https://holderbook.com/funds/1609251-krensavage-asset-management-llc/

- Reported value: $263.2M
- Positions: 18
- Weight of the ten largest: 89.4%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ENANTA PHARMACEUTICALS INC | [ENTA](https://holderbook.com/stocks/ENTA/) | $41.8M | 2,866,138 | 15.9% | 31 |
| JAZZ PHARMACEUTICALS PLC | [JAZZ](https://holderbook.com/stocks/JAZZ/) | $40.4M | 167,816 | 15.4% | 11 |
| UNITED THERAPEUTICS CORP DEL | [UTHR](https://holderbook.com/stocks/UTHR/) | $37.5M | 69,282 | 14.3% | 31 |
| BIOMARIN PHARMACEUTICAL INC | [BMRN](https://holderbook.com/stocks/BMRN/) | $30.0M | 524,786 | 11.4% | 4 |
| EXELIXIS INC | [EXEL](https://holderbook.com/stocks/EXEL/) | $20.2M | 370,693 | 7.7% | 20 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $18.1M | 200,000 | 6.9% | 2 |
| SANOFI SA | [SNY](https://holderbook.com/stocks/SNY/) | $13.8M | 323,946 | 5.3% | 11 |
| SUPERNUS PHARMACEUTICALS | [SUPN](https://holderbook.com/stocks/SUPN/) | $13.1M | 280,681 | 5.0% | 6 |
| ULTRAGENYX PHARMACEUTICAL IN | [RARE](https://holderbook.com/stocks/RARE/) | $13.1M | 390,879 | 5.0% | 3 |
| VANDA PHARMACEUTICALS INC | [VNDA](https://holderbook.com/stocks/VNDA/) | $7.2M | 1,180,388 | 2.7% | 9 |
| BIONTECH SE | [BNTX](https://holderbook.com/stocks/BNTX/) | $5.5M | 59,523 | 2.1% | 10 |
| GSK PLC | [GSK](https://holderbook.com/stocks/GSK/) | $5.1M | 96,729 | 1.9% | 6 |
| BIOGEN INC | [BIIB](https://holderbook.com/stocks/BIIB/) | $4.3M | 20,000 | 1.6% | 4 |
| REGENERON PHARMACEUTICALS | [REGN](https://holderbook.com/stocks/REGN/) | $3.7M | 6,000 | 1.4% | 5 |
| EMBECTA CORP | [EMBC](https://holderbook.com/stocks/EMBC/) | $3.7M | 1,135,340 | 1.4% | 2 |
| ARDELYX INC | [ARDX](https://holderbook.com/stocks/ARDX/) | $2.7M | 534,523 | 1.0% | 2 |
| INMODE LTD | [INMD](https://holderbook.com/stocks/INMD/) | $1.8M | 120,942 | 0.7% | 2 |
| EVOLUS INC | [EOLS](https://holderbook.com/stocks/EOLS/) | $1.1M | 157,985 | 0.4% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +6.8% | +14.8% | -8.1% | 100% |
| Q1 2026 | +0.5% | -4.6% | +5.1% | 89% |
| Q4 2025 | +19.6% | +2.4% | +17.2% | 100% |
| Q3 2025 | +26.2% | +7.8% | +18.4% | 100% |
| Q2 2025 | +9.6% | +10.5% | -0.9% | 100% |
| Q1 2025 | -0.9% | -4.6% | +3.6% | 100% |
| Q4 2024 | +0.2% | +2.1% | -1.9% | 100% |
| Q3 2024 | +6.6% | +5.4% | +1.2% | 87% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $263.2M | 18 |
| Q1 2026 | $255.7M | 20 |
| Q4 2025 | $283.1M | 18 |
| Q3 2025 | $234.7M | 17 |
| Q2 2025 | $188.9M | 15 |
| Q1 2025 | $180.9M | 14 |
| Q4 2024 | $169.0M | 12 |
| Q3 2024 | $178.5M | 13 |
| Q2 2024 | $217.8M | 13 |
| Q1 2024 | $225.5M | 12 |
| Q4 2023 | $281.9M | 12 |
| Q3 2023 | $271.6M | 12 |