SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Endurant Capital Management LP

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

Reported Value
$195M
Q1 2023
Positions
50
Filings on Record
24
2019–present window
Filed
May 15, 2023
original filing

Summary

Endurant Capital Management LP reported $195M in U.S.-listed holdings across 50 positions for Q1 2023.

Its largest position, BMRN, represents 12.8% of the portfolio.

Compared with Q4 2022, the fund opened 17 new positions and exited 23.

Portfolio Metrics

Turnover
+44.8%
vs prior filed quarter
Top-10 Concentration
+61.3%
share of reported value
Largest Position
+12.8%
Biomarin Pharmaceutical
New / Exited
17 / 23
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: 68.7%Other: 14.2%ADR: 9.1%REIT: 8.0%
  • Common Stock · 68.7% · $134M
  • Other · 14.2% · $28M
  • ADR · 9.1% · $18M
  • REIT · 8.0% · $16M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TEVATEVA PHARMACEUTICAL INDS LTDNEW+762.3K762.3K+$7M$7M
MRNAMODERNA INCNEW+36.1K36.1K+$6M$6M
AVTRAVANTOR INCNEW+225.6K225.6K+$5M$5M
PFEPFIZER INCNEW+73.3K73.3K+$3M$3M
MCKMCKESSON CORPNEW+7.3K7.3K+$3M$3M
DC4DEXCOM INCNEW+22.2K22.2K+$3M$3M
ARGXARGENX SENEW+6.1K6.1K+$2M$2M
BLUEBIRD BIO INCNEW+525.1K525.1K+$2M$2M

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

Holdings — Q1 2023

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BMRNBIOMARIN PHARMACEUTICAL INChistory →COM12.77%$25M255.6K
2BDXBECTON DICKINSON & COhistory →COM9.77%$19M76.8K
3ELVELEVANCE HEALTH INChistory →COM8.82%$17M37.3K
4SBCSABRA HEALTH CARE REIT INChistory →COM6.89%$13M1.17M
5LABORATORY CORP AMER HLDGSCOM NEW5.33%$10M45.2K
6QIAGEN NVSHS NEW4.22%$8M178.9K
7CITHE CIGNA GROUPhistory →COM3.65%$7M27.8K
8AZNNASTRAZENECA PLChistory →SPONSORED ADR3.47%$7M97.3K
9TEVATEVA PHARMACEUTICAL INDS LTDhistory →SPONSORED ADS3.47%$7M762.3K
10ICON PLCSHS2.94%$6M26.8K
11MRNAMODERNA INChistory →COM2.85%$6M36.1K
12MRKMERCK & CO INChistory →COM2.71%$5M49.6K
13AVTRAVANTOR INChistory →COM2.45%$5M225.6K
14BUWABIO RAD LABS INChistory →CL A2.26%$4M9.2K
15IM8NINSMED INChistory →COM PAR $.012.01%$4M230.0K
16THCTENET HEALTHCARE CORPhistory →COM NEW1.83%$4M59.9K
17SELECTA BIOSCIENCES INCCOM1.55%$3M2.17M
18PFEPFIZER INChistory →COM1.54%$3M73.3K
19OCULOCULAR THERAPEUTIX INChistory →COM1.39%$3M512.7K
20MCKMCKESSON CORPhistory →COM1.34%$3M7.3K
21PTCTPTC THERAPEUTICS INChistory →COM1.32%$3M53.2K
22DC4DEXCOM INChistory →COM1.32%$3M22.2K
23ARGXARGENX SEhistory →SPONSORED ADR1.17%$2M6.1K
24DOCHEALTHPEAK PROPERTIES INChistory →COM1.14%$2M100.7K
25XRAYDENTSPLY SIRONA INChistory →COM1.13%$2M56.0K
26TMOTHERMO FISHER SCIENTIFIC INChistory →COM1.11%$2M3.7K
27CNCCENTENE CORP DELCOM0.96%$2M29.6K
28ADAPYADAPTIMMUNE THERAPEUTICS PLCSPONDS ADR0.93%$2M1.66M
29BLUEBIRD BIO INCCOM0.86%$2M525.1K
30OPHTEURIVERIC BIO INCCOM0.81%$2M64.7K
312JQGRITSTONE BIO INCCOM0.77%$2M540.7K
32ABGAMERISOURCEBERGEN CORPCOM0.75%$1M9.2K
33EHCENCOMPASS HEALTH CORPCOM0.74%$1M26.5K
34UNIQURE NVSHS0.73%$1M71.0K
35ZTSZOETIS INCCL A0.72%$1M8.4K
36BAXBAXTER INTL INCCOM0.72%$1M34.5K
37RMERESMED INCCOM0.71%$1M6.3K
38ZBHZIMMER BIOMET HOLDINGS INCCOM0.62%$1M9.3K
39VKTXVIKING THERAPEUTICS INCCOM0.49%$949,76657.0K
40ACRSACLARIS THERAPEUTICS INCCOM0.35%$678,67883.9K
41CTLTEURCATALENT INCCOM0.31%$600,8529.1K
42IOVAIOVANCE BIOTHERAPEUTICS INCCOM0.25%$491,58080.5K
43CHRSCOHERUS BIOSCIENCES INCCOM0.23%$444,29965.0K
44ETNBGBP89BIO INCCOM0.15%$298,28019.6K
45MRVIMARAVAI LIFESCIENCES HLDGS ICOM CL A0.15%$290,75020.8K
46BTAIEURBIOXCEL THERAPEUTICS INCCOM0.11%$217,20211.6K
47BIODESIX INCCOM0.11%$210,677113.3K
48ADXNUSDADDEX THERAPEUTICS LTDSPONSORED ADS0.06%$114,252120.7K
492MTATHENEX INCCOM NEW0.03%$56,72642.7K

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 ↗.