SEC 13F Intelligence

Managers / Q3 2022 · view latest →

Endurant Capital Management LP

CIK 0001633055 · 66 BOVET ROAD, SUITE 353, SAN MATEO, CA, 94402 · 650-539-5905

Reported Value
$307M
Q3 2022
Positions
49
Filings on Record
24
2019–present window
Filed
Nov 14, 2022
original filing

Summary

Endurant Capital Management LP reported $307M in U.S.-listed holdings across 49 positions for Q3 2022.

Its largest position, Invacare, represents 16.0% of the portfolio.

Compared with Q2 2022, the fund opened 21 new positions and exited 21.

Portfolio Metrics

Turnover
+39.3%
vs prior filed quarter
Top-10 Concentration
+56.4%
share of reported value
Largest Position
+16.0%
Invacare
New / Exited
21 / 21
positions this quarter

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. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $189MQ4 ’18Q1 ’19: $253MQ2 ’19: $254MQ3 ’19: $279MQ3 ’19Q4 ’19: $317MQ1 ’20: $221MQ2 ’20: $1.8BQ2 ’20Q3 ’20: $338MQ4 ’20: $277MQ1 ’21: $384MQ1 ’21Q2 ’21: $364MQ3 ’21: $439MQ4 ’21: $414MQ4 ’21Q1 ’22: $380MQ2 ’22: $285MQ3 ’22: $307MQ3 ’22Q4 ’22: $246MQ1 ’23: $195MQ2 ’23: $115MQ2 ’23Q3 ’23: $111MQ4 ’23: $17MQ1 ’24: $0Q1 ’24filingsflow.com

Portfolio Composition

By security type
Common Stock: 53.1%US DOMESTIC: 16.0%Other: 15.7%ADR: 8.4%REIT: 4.1%Other: 2.7%
  • Common Stock · 53.1% · $163M
  • US DOMESTIC · 16.0% · $49M
  • Other · 15.7% · $48M
  • ADR · 8.4% · $26M
  • REIT · 4.1% · $13M
  • Other · 2.7% · $8M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TAKEDA PHARMACEUTICAL CO LTDNEW+1.10M1.10M+$14M$14M
LLYLILLY ELI & CONEW+38.3K38.3K+$12M$12M
BMYBRISTOL-MYERS SQUIBB CONEW+158.7K158.7K+$11M$11M
CTLTEURCATALENT INCNEW+140.1K140.1K+$10M$10M
OMEGA HEALTHCARE INVS INCNEW+313.8K313.8K+$9M$9M
BDXBECTON DICKINSON & CONEW+34.3K34.3K+$8M$8M
ELVELEVANCE HEALTH INCNEW+16.4K16.4K+$7M$7M
AZNNASTRAZENECA PLCNEW+101.0K101.0K+$6M$6M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2022

48 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1INVACARE CORPNOTE 5.000%11/118.73%$58M66.82M
2LABORATORY CORP AMER HLDGSCOM NEW6.49%$20M97.2K
3HUMHUMANA INChistory →COM5.17%$16M32.7K
4TAKEDA PHARMACEUTICAL CO LTDSPONSORED ADS4.66%$14M1.10M
5BAXBAXTER INTL INChistory →COM4.30%$13M245.1K
6QIAGEN NVSHS NEW4.09%$13M303.9K
7LLYLILLY ELI & COhistory →COM4.03%$12M38.3K
8BMRNBIOMARIN PHARMACEUTICAL INChistory →COM4.01%$12M145.4K
9ICON PLCSHS3.98%$12M66.4K
10BMYBRISTOL-MYERS SQUIBB COhistory →COM3.67%$11M158.7K
11CTLTEURCATALENT INChistory →COM3.30%$10M140.1K
12CICIGNA CORP NEWhistory →COM3.08%$9M34.1K
13OMEGA HEALTHCARE INVS INCCOM3.01%$9M313.8K
14ELUTAZIYO BIOLOGICS INChistory →CL A COM2.67%$8M1.14M
15BDXBECTON DICKINSON & COhistory →COM2.49%$8M34.3K
16ELVELEVANCE HEALTH INChistory →COM2.43%$7M16.4K
17ZTSZOETIS INChistory →CL A2.14%$7M44.3K
18SELECTA BIOSCIENCES INCCOM2.10%$6M3.94M
19AZNNASTRAZENECA PLChistory →SPONSORED ADR1.80%$6M101.0K
20MCKMCKESSON CORPhistory →COM1.79%$5M16.2K
21OCULOCULAR THERAPEUTIX INChistory →COM1.44%$4M1.06M
22EHCENCOMPASS HEALTH CORPhistory →COM1.22%$4M82.9K
23THCTENET HEALTHCARE CORPhistory →COM NEW1.18%$4M70.5K
24VENVENTAS INChistory →COM1.12%$3M85.7K
25BDQMALBIREO PHARMA INChistory →COM1.09%$3M172.6K
26BUWABIO RAD LABS INCCL A0.95%$3M7.0K
27MMSIMERIT MED SYS INCCOM0.94%$3M51.2K
28RCUSARCUS BIOSCIENCES INCCOM0.83%$3M97.3K
29IM8NINSMED INCCOM PAR $.010.76%$2M107.7K
30GALAPAGOS NVSPON ADR0.71%$2M50.8K
31ADAPYADAPTIMMUNE THERAPEUTICS PLCSPONDS ADR0.63%$2M1.79M
32CANO HEALTH INCCOM CL A0.60%$2M210.9K
33VCYTVERACYTE INCCOM0.59%$2M108.8K
34AVTRAVANTOR INCCOM0.48%$1M75.9K
35SUTRO BIOPHARMA INCCOM0.48%$1M266.7K
36TEVATEVA PHARMACEUTICAL INDS LTDSPONSORED ADS0.47%$1M179.2K
37OPCHOPTION CARE HEALTH INCCOM NEW0.45%$1M43.5K
38ACHOWENS & MINOR INC NEWCOM0.44%$1M55.9K
39PCVXVAXCYTE INCCOM0.41%$1M52.3K
40RETAEURREATA PHARMACEUTICALS INCCL A0.20%$612,00024.4K
41MRVIMARAVAI LIFESCIENCES HLDGS ICOM CL A0.19%$580,00022.7K
42ABOSACUMEN PHARMACEUTICALS INCCOM0.18%$555,00055.3K
43MRTXEURMIRATI THERAPEUTICS INCCOM0.18%$553,0007.9K
44RLMDRELMADA THERAPEUTICS INCCOM0.17%$524,00014.1K
45CYTKCYTOKINETICS INCCOM NEW0.15%$446,0009.2K
46MOR2MORPHOSYS AGSPONSORED ADS0.11%$344,00068.3K
47BIODESIX INCCOM0.05%$165,000130.1K
48ATNXEURATHENEX INCCOM0.05%$142,000526.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2024$01May 7, 202413F-HRchanges · EDGAR ↗
Q4 2023$17M25Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$111M43Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$115M34Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$195M50May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$246M55Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$307M49Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$285M50Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$380M63May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$414M68Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$439M53Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$364M57Aug 27, 2021RESTATEMENTchanges · EDGAR ↗
Q1 2021$384M61May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$277M52Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$338M60Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.8B56Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$221M51May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$317M54Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$279M49Nov 25, 2019RESTATEMENTchanges · EDGAR ↗
Q2 2019$254M50Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$253M70May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$189M48Feb 14, 201913F-HRchanges · 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 ↗.