Managers / Q2 2025 · view latest →
Krensavage Asset Management, LLC
CIK 0001609251 · 610 FIFTH AVENUE, SUITE 301, NEW YORK, NY, 10020 · 212-888-1582
Summary
Krensavage Asset Management, LLC reported $189M in U.S.-listed holdings across 15 positions for Q2 2025.
Its largest position, UTHR, represents 15.4% of the portfolio.
Compared with Q1 2025, the fund opened 2 new positions and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 74.4% · $141M
- ADR · 13.5% · $25M
- Other · 12.1% · $23M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| JNJJOHNSON & JOHNSON | NEW | +40.0K | 40.0K | +$6M | $6M |
| REGNREGENERON PHARMACEUTICALS | NEW | +4.0K | 4.0K | +$2M | $2M |
| MURAL ONCOLOGY PLC | SOLD OUT | −70.3K | 0 | −$89,000 | $0 |
| JAZZJAZZ PHARMACEUTICALS PLC | ADDED | +64.1K | 164.8K | +$5M | $17M |
| EXELEXELIXIS INC | TRIMMED | −385.0K | 493.5K | −$11M | $22M |
| VNDAVANDA PHARMACEUTICALS INC | ADDED | +270.5K | 1.02M | +$1M | $5M |
| CAHCARDINAL HEALTH INC | TRIMMED | −55.0K | 133.7K | −$4M | $22M |
| BNTXBIONTECH SE-ADR | TRIMMED | −14.2K | 73.4K | −$160,000 | $8M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | UTHRUNITED THERAPEUTICS CORPhistory → | COM | 15.38% | $29M | 101.1K |
| 2 | CAHCARDINAL HEALTH INChistory → | COM | 11.89% | $22M | 133.7K |
| 3 | EXELEXELIXIS INChistory → | COM | 11.51% | $22M | 493.5K |
| 4 | JAZZJAZZ PHARMACEUTICALS PLChistory → | COM | 9.26% | $17M | 164.8K |
| 5 | ENTAENANTA PHARMACEUTICALS INChistory → | COM | 8.46% | $16M | 2.11M |
| 6 | SUPNSUPERNUS PHARMACEUTICALS INChistory → | COM | 7.88% | $15M | 472.4K |
| 7 | INDIVIOR PLC | COM | 7.60% | $14M | 974.5K |
| 8 | GSKGSK PLC-SPON ADRhistory → | COM | 5.52% | $10M | 271.7K |
| 9 | AVADEL PHARMACEUTICALS | COM | 4.49% | $8M | 958.9K |
| 10 | BNTXBIONTECH SE-ADRhistory → | COM | 4.14% | $8M | 73.4K |
| 11 | SNYSANOFI-ADRhistory → | COM | 3.81% | $7M | 148.9K |
| 12 | JNJJOHNSON & JOHNSONhistory → | COM | 3.23% | $6M | 40.0K |
| 13 | ALKSALKERMES PLChistory → | COM | 3.15% | $6M | 207.8K |
| 14 | VNDAVANDA PHARMACEUTICALS INChistory → | COM | 2.56% | $5M | 1.02M |
| 15 | REGNREGENERON PHARMACEUTICALShistory → | COM | 1.11% | $2M | 4.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $256M | 20 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $283M | 18 | Feb 18, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $235M | 17 | Nov 17, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $189M | 15 | Aug 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $181M | 14 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $169M | 12 | Feb 18, 2025 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2024 | $178M | 13 | Nov 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $218M | 13 | Aug 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $226M | 12 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $282M | 12 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $272M | 12 | Nov 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $316M | 12 | Aug 11, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $329M | 12 | May 16, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $324M | 12 | Feb 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $314M | 14 | Nov 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $302M | 14 | Aug 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $290M | 13 | May 17, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $288M | 10 | Feb 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $319M | 13 | Nov 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $295M | 13 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $289M | 12 | May 18, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $342M | 12 | Feb 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $314M | 11 | Dec 8, 2020 | RESTATEMENT | changes · EDGAR ↗ |
| Q2 2020 | $368M | 11 | Aug 20, 2020 | RESTATEMENT | changes · EDGAR ↗ |
| Q1 2020 | $311M | 13 | May 18, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $293M | 12 | Feb 18, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $260M | 10 | Nov 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $308M | 10 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $370M | 12 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.