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Funds (13F)

Pfm Health Sciences, LP

Backtest from 28 Feb 2014 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+11.1%
S&P 500 +13.6%
Last 12 months
+30.1%
S&P 500 +12.1%
Sharpe ratio
0.53
S&P 500 0.74
Biggest drop
−28.2%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2014201620182020202220242026 $50.2k$37.9k
Pfm Health Sciences, LPS&P 500 $10,000 in Pfm Health Sciences, LP from 28 Feb 2014 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Pfm Health Sciences, LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Pfm Health Sciences, LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+11.1%+13.6%
Total return+279%+402%
Last 12 months+30.1%+12.1%
Last 3 months+0.2%—
Last month+1.5%—
This year so far+18.6%—
Volatility a year19.4%16.2%
Sharpe ratio0.530.74
Biggest drop−28.2%−31.8%
Beta to the S&P 5000.941.00
Alpha a year (t-statistic)−1.0% (−0.29)—
Share of weeks up55%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
ASND5.4%——
AXSM4.7%——
LLY4.1%——
JAZZ3.4%——
HUM3.3%——
UNH3.2%——
NBIX3.1%——
INBX2.5%——
UTHR2.4%——
RVMD2.3%——
ICLR2.1%——
THC2.1%——
EW2.0%——
WAT2.0%——
PEN1.7%——
BBIO1.6%——
SYK1.6%——
MTD1.5%——
INDV1.4%——
MRK1.4%——
CYTK1.4%——
LNTH1.4%——
CNC1.4%——
COO1.4%——
MDGL1.4%——
ACHC1.4%——
ORKA1.3%——
OSCR1.3%——
TMO1.3%——
CVS1.2%——
MMSI1.2%——
PRAX1.1%——
CLDX1.1%——
NVO1.1%——
ITGR1.0%——
DNTH1.0%——
DFTX1.0%——
GILD1.0%——
RYTM1.0%——
HSIC1.0%——
ARWR0.9%——
TNGX0.9%——
TFX0.9%——
VKTX0.9%——
BTSG0.9%——
VERA0.8%——
ROIV0.8%——
CGON0.8%——
AMRX0.7%——
EPRX0.7%——
IRTC0.7%——
KOD0.7%——
ABT0.7%——
WST0.7%——
HNGE0.6%——
ARQT0.6%——
IART0.6%——
ILMN0.5%——
MGTX0.5%——
OCS0.5%——
NTRA0.5%——
ABVX0.5%——
GH0.5%——
CELC0.5%——
BLTE0.5%——
GPCR0.4%——
RCUS0.4%——
CRL0.4%——
ELAN0.4%——
ARGX0.4%——
BIO0.4%——
SYRE0.4%——
MBX0.3%——
MIRM0.3%——
CGEM0.3%——
CMPS0.3%——
HCA0.3%——
CAPR0.3%——
DNLI0.2%——
SNDX0.2%——
AMLX0.2%——
TARS0.2%——
OM0.2%——
OMDA0.2%——
ERAS0.2%——
COR0.2%——
BCRX0.2%——
OMCL0.2%——
CVRX0.2%——
HIMS0.1%——
MLYS0.1%——
TECX0.1%——
QURE0.1%——
RZLT0.1%——
CRBU0.1%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest28 Feb 2014 to 2 Nov 2026+11.1%+13.6%0.530.74−28.2%0.94−1.0% (−0.29)
2018 onwards5 Jan 2018 to 2 Nov 2026+10.3%+13.9%0.440.66−28.2%0.92−1.7% (−0.38)
Last three years3 Nov 2023 to 2 Nov 2026+19.3%+21.8%0.841.16−18.8%0.67+3.8% (0.44)
Last year7 Nov 2025 to 2 Nov 2026+28.4%+14.2%1.330.84−12.6%0.65+15.7% (1.05)
DateCompanyAction
21 Aug 2026WSTBought
21 Aug 2026TFXBought
21 Aug 2026SYREBought
21 Aug 2026RCUSBought
21 Aug 2026OMDABought
21 Aug 2026OMCLBought
21 Aug 2026OCSBought
21 Aug 2026MTDBought
21 Aug 2026MRKBought
21 Aug 2026MIRMBought
21 Aug 2026MGTXBought
21 Aug 2026LNTHBought
21 Aug 2026IRTCBought
21 Aug 2026IARTBought
21 Aug 2026HUMBought
21 Aug 2026HNGEBought
21 Aug 2026HIMSBought
21 Aug 2026GILDBought
21 Aug 2026GHBought
21 Aug 2026ERASBought
21 Aug 2026ELANBought
21 Aug 2026DNLIBought
21 Aug 2026CYTKBought
21 Aug 2026CVSBought
21 Aug 2026CVRXBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026PSNLSold
21 Aug 2026NEOSold
21 Aug 2026MDLNSold
21 Aug 2026GMEDSold
21 Aug 2026GKOSSold
21 Aug 2026DXCMSold
21 Aug 2026CAHSold
21 Aug 2026BLLNSold
21 Aug 2026ALHCSold
22 May 2026VEEVSold
22 May 2026UHSSold
22 May 2026TMCISold
22 May 2026TFXSold
22 May 2026NPCESold
22 May 2026MRKSold
22 May 2026MOHSold
22 May 2026MDTSold
22 May 2026ISRGSold
22 May 2026IRONSold
22 May 2026IQVSold
22 May 2026GILDSold
22 May 2026FTRESold
22 May 2026ELANSold
22 May 2026CVSSold
22 May 2026ALGNSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest