Patient Square Capital LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 11, 2025), Patient Square Capital LP reported 19 stock positions worth $277.4 million. Its top holding was Roivant Sciences (ROIV) at 50.7% of the portfolio, followed by Insmed (INSM, 13.0%) and Argenx SE - ADR (ARGX, 5.8%). Compared with Q1 2025, it opened 3 new positions, sold out of 3, added to 3 and reduced 10. The biggest buy was a new position in Argenx SE - ADR (ARGX) and the biggest sale Liquidia (LQDA, shares −33%).
- Most Recent 13F
- Q2 2026
- Location
- MENLO PARK, CA
- CIK
- 0001819257
- Portfolio Value
- $277.4M (Q2 2025)
- SEC Filing
- 0000950123-25-007478 ↗ filed Aug 11, 2025
Holdings Value
Holdings 19 stocks · $277.4M
| ROIV Roivant Sciences Ltd. | 50.71% | 12,480,000 | $140.6M | No change |
| INSM Insmed Inc. | 13.02% | 358,800 | $36.1M | Add +8.6% |
| ARGX Argenx SE - ADR | 5.76% | 29,000 | $16.0M | New |
| EYPT Eyepoint Inc. | 4.59% | 1,352,837 | $12.7M | Reduce -8.7% |
| LQDA Liquidia Corp. | 4.58% | 1,020,000 | $12.7M | Reduce -33.0% |
| OCUL Ocular Therapeutix Inc. | 2.74% | 817,699 | $7.6M | Reduce -11.1% |
| CGEM Cullinan Therapeutics Inc. | 2.36% | 868,897 | $6.5M | Reduce -1.1% |
| KYMR Kymera Therapeutics Inc. | 2.20% | 140,000 | $6.1M | Reduce -1.6% |
| MIRM Mirum Pharmaceuticals Inc. | 2.08% | 113,462 | $5.8M | Reduce -2.5% |
| SRRK Scholar Rock Holding Corp. | 1.97% | 154,000 | $5.5M | No change |
| ELVN Enliven Therapeutics Inc. | 1.78% | 245,838 | $4.9M | Reduce -3.1% |
| NRIX Nurix Therapeutics Inc. | 1.69% | 412,296 | $4.7M | Reduce -7.8% |
| AGIO Agios Pharmaceuticals Inc. | 1.68% | 139,732 | $4.6M | No change |
| PHVS Pharvaris NV | 1.55% | 244,283 | $4.3M | Reduce -0.5% |
| IRON Disc Medicine Inc. | 1.41% | 74,000 | $3.9M | Reduce -10.8% |
| ALLO Allogene Therapeutics Inc. | 1.07% | 2,635,000 | $3.0M | Add +11.3% |
| GERN Geron Corp. | 0.36% | 716,000 | $1.0M | New |
| CDTX Cidara Therapeutics Inc. | 0.26% | 15,000 | $731K | New |
| VYNE THERAPEUTICS INC | 0.19% | 317,033 | $523K | Add +23.3% |
Portfolio Sells Q1 2025 → Q2 2025
| LQDA Liquidia Corp. | Reduce -33.0% | 4.58% | −4.71 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −1.41 |
| NTLA Intellia Therapeutics Inc. | Sold out | 0.00% | −0.68 |
| SLNO Soleno Therapeutics Inc. | Sold out | 0.00% | −0.55 |
| NRIX Nurix Therapeutics Inc. | Reduce -7.8% | 1.69% | −0.51 |
| CGEM Cullinan Therapeutics Inc. | Reduce -1.1% | 2.36% | −0.39 |
| IRON Disc Medicine Inc. | Reduce -10.8% | 1.41% | −0.29 |
| ELVN Enliven Therapeutics Inc. | Reduce -3.1% | 1.78% | −0.29 |
| MIRM Mirum Pharmaceuticals Inc. | Reduce -2.5% | 2.08% | −0.09 |
| OCUL Ocular Therapeutix Inc. | Reduce -11.1% | 2.74% | −0.05 |
| PHVS Pharvaris NV | Reduce -0.5% | 1.55% | −0.04 |
| KYMR Kymera Therapeutics Inc. | Reduce -1.6% | 2.20% | +0.59 |
| EYPT Eyepoint Inc. | Reduce -8.7% | 4.59% | +1.27 |
Portfolio Buys Q1 2025 → Q2 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 23 | $645.5M | ROIV, RVMD, MIRM, ABVX, ONC |
| Q1 2026 | 29 | $563.6M | ROIV, ARGX, INSM, ONC, COGT |
| Q4 2025 | 28 | $467.1M | ROIV, INSM, MIRM, ARGX, ONC |
| Q3 2025 | 24 | $373.9M | ROIV, INSM, EYPT, ABVX, CDTX |
| Q2 2025 | 19 | $277.4M | ROIV, INSM, ARGX, EYPT, LQDA |
| Q1 2025 | 19 | $241.7M | ROIV, INSM, LQDA, EYPT, OCUL |
| Q4 2024 | 20 | $267.4M | ROIV, LQDA, INSM, CGEM, EYPT |
| Q3 2024 | 11 | $269.4M | ROIV, LQDA, CGEM, INSM, EYPT |
| Q2 2024 | 2 | $215.4M | ROIV, LQDA |
| Q1 2024 | 2 | $234.8M | ROIV, LQDA |