Camber Capital Management LP

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Camber Capital Management LP reported 34 stock positions worth $2.6 billion. Its top holding was Zimmer Biomet (ZBH) at 8.1% of the portfolio, followed by Baxter International (BAX, 7.2%) and Medtronic (MDT, 6.9%). Compared with Q1 2024, it opened 6 new positions, sold out of 5, added to 7 and reduced 9. The biggest buy was a new position in Humana (HUM) and the biggest sale an exit from Tenet Healthcare (THC).

Most Recent 13F
Q2 2025
Location
BOSTON, MA
CIK
0001444043
Portfolio Value
$2.6B (Q2 2024)
SEC Filing
0001654954-24-010537 ↗ filed Aug 14, 2024

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $2.8B Q1 2024 Q2 2024: $2.6B $2.6B Q2 2024 Q3 2024: $2.6B Q3 2024 Q4 2024: $2.5B Q4 2024 Q1 2025: $1.6B Q1 2025 Q2 2025: $717.9M Q2 2025

Holdings 34 stocks · $2.6B
ZBH Zimmer Biomet Holdings Inc. 8.14% 1,925,000 $208.9M No change
BAX Baxter International Inc. 7.16% 5,500,000 $184.0M Add +10.0%
MDT Medtronic PLC 6.90% 2,250,000 $177.1M Add +21.6%
UHS Universal Health Services-B 6.84% 950,000 $175.7M Reduce -24.0%
GMED Globus Medical Inc. Class A 6.67% 2,500,000 $171.2M No change
VTRS Viatris Inc. 6.21% 15,000,000 $159.4M Reduce -7.7%
HUM Humana Inc. 5.82% 400,000 $149.5M New
MYGN Myriad Genetics Inc. 5.24% 5,500,000 $134.5M Reduce -28.0%
JAZZ Jazz Pharmaceuticals PLC 4.78% 1,150,000 $122.7M No change
PTCT PTC Therapeutics Inc. 4.17% 3,500,000 $107.0M Reduce -12.5%
BKD Brookdale Senior Living Inc. 4.12% 15,500,000 $105.9M No change
GSK GSK PLC-Spon ADR 4.01% 2,675,000 $103.0M Add +23.0%
BMRN Biomarin Pharmaceutical Inc. 3.53% 1,100,000 $90.6M Add +340.0%
SEM Select Medical Holdings Corp. 3.48% 2,550,000 $89.4M Reduce -25.0%
CVS CVS Health Corp. 3.45% 1,500,000 $88.6M New
WBA Walgreens Boots Alliance Inc. 3.30% 7,000,000 $84.7M Reduce -10.3%
QGEN Qiagen NV 2.40% 1,500,000 $61.6M Add +24.0%
ZIMV Zimvie Inc. 2.31% 3,250,000 $59.3M No change
DNLI Denali Therapeutics Inc. 1.81% 2,000,000 $46.4M Add +33.3%
PRGO Perrigo Co. PLC 1.52% 1,520,000 $39.0M No change
HLF Herbalife Ltd. 1.21% 3,000,000 $31.2M No change
ARGX Argenx SE - ADR 1.21% 72,000 $31.0M New
SRPT Sarepta Therapeutics Inc. 0.92% 150,000 $23.7M Reduce -74.4%
BCYC Bicycle Therapeutics PLC-ADR 0.72% 915,000 $18.5M Add +103.3%
OSUR Orasure Technologies Inc. 0.71% 4,250,000 $18.1M No change
INGN Inogen Inc. 0.63% 2,000,000 $16.3M No change
MLTX Moonlake Immunotherapeutics 0.61% 355,000 $15.6M New
ANAB Anaptysbio Inc. 0.49% 500,000 $12.5M New
REPL Replimune Group Inc. 0.47% 1,350,000 $12.2M Reduce -50.9%
EVH Evolent Health Inc. Class A 0.47% 625,000 $11.9M New
TBPH Theravance Biopharma Inc. 0.33% 1,000,000 $8.5M No change
SKIN Skinhealth Systems Inc. filed as THE BEAUTY HEALTH COMPANY 0.26% 3,500,000 $6.7M No change
CVAC Curevac NV 0.07% 550,000 $1.9M Reduce -68.6%
GMAB Genmab A/S -SP ADR 0.05% 50,000 $1.3M No change

Options reported separately and not counted above: SPY puts ($952.4M), PFE calls ($70.0M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $23.2M (not counted above)
SecurityClassShares / PrincipalValueChange
BROOKDALE SENIOR LIVING (BKD 7 11/15/25) UNIT 11/15/2025 250,000$23.2MNo change

Total filed on the 13F, all lines: $2.6B.

Portfolio Sells Q1 2024 → Q2 2024
THC Tenet Healthcare Corp. Sold out 0.00% −7.04
BIIB Biogen Inc. Sold out 0.00% −3.04
WBA Walgreens Boots Alliance Inc. Reduce -10.3% 3.30% −2.67
SRPT Sarepta Therapeutics Inc. Reduce -74.4% 0.92% −1.75
UHS Universal Health Services-B Reduce -24.0% 6.84% −1.20
COLL Collegium Pharmaceutical Inc. Sold out 0.00% −1.17
PTON Peloton Interactive Inc. Class A Sold out 0.00% −0.68
VTRS Viatris Inc. Reduce -7.7% 6.21% −0.63
MYGN Myriad Genetics Inc. Reduce -28.0% 5.24% −0.50
REPL Replimune Group Inc. Reduce -50.9% 0.47% −0.32
PBYI Puma Biotechnology Inc. Sold out 0.00% −0.31
SEM Select Medical Holdings Corp. Reduce -25.0% 3.48% −0.13
CVAC Curevac NV Reduce -68.6% 0.07% −0.11
PTCT PTC Therapeutics Inc. Reduce -12.5% 4.17% +0.07

Portfolio Buys Q1 2024 → Q2 2024
HUM Humana Inc. New 5.82% +5.82
CVS CVS Health Corp. New 3.45% +3.45
BMRN Biomarin Pharmaceutical Inc. Add +340.0% 3.53% +2.76
MDT Medtronic PLC Add +21.6% 6.90% +1.21
ARGX Argenx SE - ADR New 1.21% +1.21
GSK GSK PLC-Spon ADR Add +23.0% 4.01% +0.72
DNLI Denali Therapeutics Inc. Add +33.3% 1.81% +0.72
MLTX Moonlake Immunotherapeutics New 0.61% +0.61
QGEN Qiagen NV Add +24.0% 2.40% +0.57
ANAB Anaptysbio Inc. New 0.49% +0.49
EVH Evolent Health Inc. Class A New 0.47% +0.47
BCYC Bicycle Therapeutics PLC-ADR Add +103.3% 0.72% +0.33
BAX Baxter International Inc. Add +10.0% 7.16% −0.37

Options Activity Q1 2024 → Q2 2024
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -20.4% 1,750,000 $952.4M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2025 23$717.9MZBH, BAX, HUM, CVS, GMED
Q1 2025 28$1.6BZBH, BAX, HUM, CVS, GMED
Q4 2024 35$2.5BMDT, VTRS, ZBH, HUM, PTCT
Q3 2024 31$2.6BZBH, MDT, BAX, VTRS, GMED
Q2 2024 34$2.6BZBH, BAX, MDT, UHS, GMED
Q1 2024 33$2.8BZBH, UHS, BAX, THC, VTRS