Camber Capital Management LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Camber Capital Management LP reported 23 stock positions worth $717.9 million. Its top holding was Zimmer Biomet (ZBH) at 12.7% of the portfolio, followed by Baxter International (BAX, 12.0%) and Humana (HUM, 10.2%). Compared with Q1 2025, it opened 4 new positions, sold out of 9, added to 1 and reduced 16. The biggest buy was a new position in Icon (ICLR) and the biggest sale an exit from PTC Therapeutics (PTCT).
- Most Recent 13F
- Q2 2025
- Location
- BOSTON, MA
- CIK
- 0001444043
- Portfolio Value
- $717.9M (Q2 2025)
- SEC Filing
- 0001654954-25-009644 ↗ filed Aug 14, 2025
Holdings Value
Holdings 23 stocks · $717.9M
| ZBH Zimmer Biomet Holdings Inc. | 12.71% | 1,000,000 | $91.2M | Reduce -55.6% |
| BAX Baxter International Inc. | 12.02% | 2,850,000 | $86.3M | Reduce -50.4% |
| HUM Humana Inc. | 10.22% | 300,000 | $73.3M | Reduce -58.6% |
| CVS CVS Health Corp. | 10.09% | 1,050,000 | $72.4M | Reduce -53.3% |
| GMED Globus Medical Inc. Class A | 6.58% | 800,000 | $47.2M | Reduce -36.0% |
| ICLR Icon PLC | 6.08% | 300,000 | $43.6M | New |
| ASND Ascendis Pharma A/S | 6.01% | 250,000 | $43.1M | Reduce -28.6% |
| MRK Merck & Co. Inc. | 5.51% | 500,000 | $39.6M | New |
| PFE Pfizer Inc. | 5.06% | 1,500,000 | $36.4M | Reduce -40.0% |
| BMRN Biomarin Pharmaceutical Inc. | 4.59% | 600,000 | $33.0M | Add +20.0% |
| UNH Unitedhealth Group Inc. | 4.35% | 100,000 | $31.2M | New |
| VTRS Viatris Inc. | 3.42% | 2,750,000 | $24.6M | Reduce -63.3% |
| BKD Brookdale Senior Living Inc. | 2.08% | 2,150,000 | $15.0M | Reduce -65.6% |
| ZIMV Zimvie Inc. | 2.08% | 1,600,000 | $15.0M | Reduce -15.1% |
| APLS Apellis Pharmaceuticals Inc. | 2.05% | 850,000 | $14.7M | New |
| MYGN Myriad Genetics Inc. | 1.48% | 2,000,000 | $10.6M | Reduce -14.9% |
| EVH Evolent Health Inc. Class A | 1.33% | 850,000 | $9.6M | Reduce -71.7% |
| CON Concentra Group Holdings Par | 1.15% | 400,000 | $8.2M | Reduce -75.0% |
| INGN Inogen Inc. | 0.95% | 975,000 | $6.9M | No change |
| DNLI Denali Therapeutics Inc. | 0.78% | 400,000 | $5.6M | Reduce -68.0% |
| TBPH Theravance Biopharma Inc. | 0.69% | 450,000 | $5.0M | Reduce -55.0% |
| ANAB Anaptysbio Inc. | 0.39% | 125,000 | $2.8M | Reduce -83.3% |
| OSUR Orasure Technologies Inc. | 0.38% | 900,000 | $2.7M | No change |
Options reported separately and not counted above: SPY puts ($308.9M), GSK calls ($38.4M).
Portfolio Sells Q1 2025 → Q2 2025
| PTCT PTC Therapeutics Inc. | Sold out | 0.00% | −4.77 |
| CI The Cigna Group | Sold out | 0.00% | −4.11 |
| QGEN Qiagen N.V. | Sold out | 0.00% | −3.51 |
| SRPT Sarepta Therapeutics Inc. | Sold out | 0.00% | −3.19 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -55.6% | 12.71% | −3.18 |
| HUM Humana Inc. | Reduce -58.6% | 10.22% | −1.75 |
| IONS Ionis Pharmaceuticals Inc. | Sold out | 0.00% | −1.36 |
| MLTX Moonlake Immunotherapeutics | Sold out | 0.00% | −1.08 |
| CON Concentra Group Holdings Par | Reduce -75.0% | 1.15% | −1.02 |
| VTRS Viatris Inc. | Reduce -63.3% | 3.42% | −0.66 |
| TXG 10X Genomics Inc. Class A | Sold out | 0.00% | −0.54 |
| ANAB Anaptysbio Inc. | Reduce -83.3% | 0.39% | −0.48 |
| EVH Evolent Health Inc. Class A | Reduce -71.7% | 1.33% | −0.44 |
| BKD Brookdale Senior Living Inc. | Reduce -65.6% | 2.08% | −0.36 |
| GPCR Structure Therapeutics Inc. | Sold out | 0.00% | −0.32 |
| DNLI Denali Therapeutics Inc. | Reduce -68.0% | 0.78% | −0.28 |
| BAX Baxter International Inc. | Reduce -50.4% | 12.02% | −0.26 |
| GMAB Genmab A/S -SP ADR | Sold out | 0.00% | −0.06 |
| TBPH Theravance Biopharma Inc. | Reduce -55.0% | 0.69% | +0.13 |
| MYGN Myriad Genetics Inc. | Reduce -14.9% | 1.48% | +0.18 |
| CVS CVS Health Corp. | Reduce -53.3% | 10.09% | +0.58 |
| ZIMV Zimvie Inc. | Reduce -15.1% | 2.08% | +0.81 |
| GMED Globus Medical Inc. Class A | Reduce -36.0% | 6.58% | +0.87 |
| PFE Pfizer Inc. | Reduce -40.0% | 5.06% | +1.11 |
| ASND Ascendis Pharma A/S | Reduce -28.6% | 6.01% | +2.61 |
Portfolio Buys Q1 2025 → Q2 2025
Options Activity Q1 2025 → Q2 2025
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -66.7% | 500,000 | $308.9M |
| PFE Pfizer Inc. | call | Sold out | 6,800,000 | $172.3Mbefore exit |
| XBI SS SPDR S&P Biotech ETF | put | Sold out | 2,000,000 | $162.2Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.