Rhenman & Partners Asset Management AB

CIK 1599882 · View on SEC EDGAR ↗

Portfolio value
$1.1B
#2,357 of 9,443 by 13F value · top 25.0%
Positions
99
As of
June 30, 2026

Portfolio value QoQ: +30.7% 13F does not disclose cash

Top 10 holdings weight
25.08%
Top 25 holdings weight
49.55%
Positions above 1%
48
Effective number of positions
65.5

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 17.74% Est. buys $331,219,867 · sells $165,863,059

Median holding: 5.0 quarters Tracked Q4 2024–Q2 2026 · 64.3% still held

New positions
21
Increased
41
Decreased
34
Closed
8
On this page

Performance vs S&P 500

Tracked Q4 2024–Q2 2026
+24.3%
S&P 500 total return (same window)
+28.1%
Excess return
-3.8%

Annualized: +15.7% · S&P 500: +18.0%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 99.5% · Options excluded: 0.0%

Sector breakdown

Healthcare
98.4%
Financials
1.1%
Other/Unmapped
0.5%

Full portfolio 99 positions

Type Streak 8Q trend
UNH UnitedHealth Group Incorporated Common Stock (DE) $38,902,968 3.67% 93,600 $26,591,123 Up ×1
CVS CVS Health Corporation Common Stock $28,901,240 2.73% 279,374 $4,733,810 Down ×1
AZN AstraZeneca PLC - American Depositary Shares $28,480,798 2.69% 151,500 Up ×1
MRK Merck & Company, Inc. Common Stock (new) $27,434,750 2.59% 213,500
LLY Eli Lilly and Company Common Stock $26,765,280 2.53% 22,315 $-4,244,766 Down ×4
ABBV AbbVie Inc. Common Stock $24,352,461 2.30% 96,775 $8,785,614 Up ×1
ALHC Alignment Healthcare, Inc. - Common Stock $23,740,546 2.24% 997,083 $5,178,757 Down ×1
EW Edwards Lifesciences Corporation Common Stock $23,519,600 2.22% 260,000 $10,466,560 Up ×1
GILD Gilead Sciences, Inc. - Common Stock $22,520,105 2.13% 178,250 $-859,213 Up ×3
JAZZ Jazz Pharmaceuticals plc - Ordinary Shares $21,070,417 1.99% 87,440 $6,723,412 Up ×2
BIIB Biogen Inc. - Common Stock $20,493,291 1.93% 94,850 $491,988 Down ×1
SYK Stryker Corporation Common Stock $20,464,600 1.93% 65,000 $4,757,998 Up ×1
BSX Boston Scientific Corporation Common Stock $19,227,340 1.81% 450,500 $-19,991,410 Down ×1
JNJ Johnson & Johnson Common Stock $18,412,825 1.74% 72,500 Up ×1
GH Guardant Health, Inc. - Common Stock $17,253,450 1.63% 115,000 $3,859,800 Down ×1
REGN Regeneron Pharmaceuticals, Inc. - Common Stock $17,078,761 1.61% 27,390 $-20,085,223 Down ×2
GKOS Glaukos Corporation Common Stock $16,631,440 1.57% 119,000 $7,588,000 Up ×1
BMRN BioMarin Pharmaceutical Inc. - Common Stock $16,622,410 1.57% 290,500 $4,928,980 Up ×1
NRIX Nurix Therapeutics, Inc. - Common stock $16,599,905 1.57% 684,250 $11,740,655 Up ×1
NTRA Natera, Inc. - Common Stock $16,572,022 1.56% 61,050 $6,252,538 Up ×3
MIRM Mirum Pharmaceuticals, Inc. - common stock $16,296,729 1.54% 139,205 $7,741,879 Up ×1
INSM Insmed Incorporated - Common Stock $16,201,975 1.53% 151,960 $-9,921,980 Down ×1
THC Tenet Healthcare Corporation Common Stock $15,939,216 1.50% 85,200 $5,748,876 Up ×1
TMO Thermo Fisher Scientific Inc Common Stock $15,832,949 1.49% 31,580 $-4,486,901 Down ×1
CNC Centene Corporation Common Stock $15,662,360 1.48% 244,000
AXSM Axsome Therapeutics, Inc. - Common Stock $15,432,748 1.46% 63,050 $4,649,272 Down ×3
DHR Danaher Corporation Common Stock $15,286,401 1.44% 80,252 $11,863,742 Up ×1
VRTX Vertex Pharmaceuticals Incorporated - Common Stock $15,242,160 1.44% 30,685 $-4,175,632 Down ×1
AVR Anteris Technologies Global Corp. - Common Stock $15,155,456 1.43% 1,538,625 $7,171,087 Up ×2
NBIX Neurocrine Biosciences, Inc. - Common Stock $14,467,213 1.37% 85,841 $1,182,420 Down ×2
PNTG The Pennant Group, Inc. - Common Stock $13,725,853 1.30% 371,471 $5,331,691 Up ×1
ISRG Intuitive Surgical, Inc. - Common Stock $13,719,960 1.30% 34,500 $-3,265,678 Down ×3
ELV Elevance Health, Inc. Common Stock $13,496,877 1.27% 34,900 $4,041,052 Up ×2
LIVN LivaNova PLC - Ordinary Shares $13,485,720 1.27% 164,000 $3,633,920 Up ×1
COR Cencora, Inc. Common Stock $13,237,238 1.25% 46,778 $-3,215,845 Down ×2
CRL Charles River Laboratories International, Inc. Common Stock $12,972,388 1.22% 57,200 $8,487,388 Up ×2
IDYA IDEAYA Biosciences, Inc. - Common Stock $12,813,426 1.21% 343,800 $4,300,166 Up ×2
MCK McKesson Corporation Common Stock $12,505,180 1.18% 16,550 $-2,076,136 Down ×5
SNDX Syndax Pharmaceuticals, Inc. - Common Stock $12,247,065 1.16% 560,250 $3,387,785 Up ×1
BTSG BrightSpring Health Services, Inc. - Common Stock $11,569,587 1.09% 165,896 $9,439,087 Up ×1
MDT Medtronic plc. Ordinary Shares $11,343,350 1.07% 145,000 $3,544,850 Up ×1
MLYS Mineralys Therapeutics, Inc. - Common Stock $11,233,690 1.06% 416,371 $4,107,097 Up ×2
OSCR Oscar Health, Inc. Class A Common Stock $11,179,840 1.06% 392,000 $3,609,640 Down ×1
RPRX Royalty Pharma plc - Class A Ordinary Shares $11,045,790 1.04% 197,000 $-131,220 Down ×1
DXCM DexCom, Inc. - Common Stock $10,776,000 1.02% 160,000
ALGN Align Technology, Inc. - Common Stock $10,625,580 1.00% 63,000 $9,339,855 Up ×1
SYRE Spyre Therapeutics, Inc. - Common Stock $10,591,454 1.00% 119,300 Up ×1
RLAY Relay Therapeutics, Inc. - Common Stock $10,589,860 1.00% 566,000 $7,007,860 Up ×1
ARWR Arrowhead Pharmaceuticals, Inc. - Common Stock $10,433,280 0.98% 128,000 $1,373,130 Down ×1
A Agilent Technologies, Inc. Common Stock $9,962,250 0.94% 75,000 $7,112,750 Up ×2
NKTR Nektar Therapeutics - Common Stock $9,860,662 0.93% 141,250 $5,615,612 Up ×1
ALKS Alkermes plc - Ordinary Shares $9,706,174 0.92% 185,250 $4,994,454 Up ×1
ABT Abbott Laboratories Common Stock $8,711,040 0.82% 96,000 $-2,788,000 Down ×1
DNTH Dianthus Therapeutics, Inc. - Common Stock $8,395,660 0.79% 86,127 $1,545,522 Up ×1
PRCT PROCEPT BioRobotics Corporation - Common Stock $7,790,100 0.74% 345,000 $-4,089,650 Down ×2
GPCR Structure Therapeutics Inc. - American Depositary Shares $7,787,517 0.74% 145,100 $1,613,097 Up ×1
ORKA Oruka Therapeutics, Inc. - Common Stock $7,613,600 0.72% 80,000 Up ×1
EHC Encompass Health Corporation Common Stock $7,506,504 0.71% 74,263 $2,064,184 Up ×1
MLTX MoonLake Immunotherapeutics - Class A Ordinary Shares $7,492,056 0.71% 384,800 $3,027,776 Up ×1
IOVA Iovance Biotherapeutics, Inc. - Common Stock $7,094,160 0.67% 1,705,327 $-120,038 Down ×1
BBIO BridgeBio Pharma, Inc. - Common Stock $6,785,128 0.64% 91,100 $57,172 Up ×2
KURA Kura Oncology, Inc. - Common Stock $6,488,755 0.61% 591,500 $4,281,460 Up ×1
PODD Insulet Corporation - Common Stock $6,394,500 0.60% 42,000 $3,456,740 Up ×1
ERAS Erasca, Inc. - Common Stock $6,393,680 0.60% 349,000 Up ×1
KRYS Krystal Biotech, Inc. - Common Stock $6,067,513 0.57% 16,325 $1,760,027 Down ×2
STVN Stevanato Group S.p.A. Ordinary Shares $5,528,914 0.52% 305,972 $1,752,119 Up ×3
ASTH Astrana Health Inc. - Common Stock $5,517,592 0.52% 118,888
CAH Cardinal Health, Inc. Common Stock $5,345,100 0.50% 22,500 $-360,270 Down ×1
ALNY Alnylam Pharmaceuticals, Inc. - Common Stock $5,177,716 0.49% 17,200 $-6,225,719 Down ×2
MOH Molina Healthcare Inc Common Stock $4,998,696 0.47% 21,857
VKTX Viking Therapeutics, Inc. - Common Stock $4,993,280 0.47% 128,000 $-213,120 Down ×1
CI The Cigna Group Common Stock $4,796,832 0.45% 17,400 $2,662,832 Up ×1
IONS Ionis Pharmaceuticals, Inc. - Common Stock $4,749,471 0.45% 59,900 $-2,226,390 Down ×3
AMN AMN Healthcare Services Inc $4,676,364 0.44% 144,466 Up ×1
DNLI Denali Therapeutics Inc. - Common Stock $4,603,880 0.43% 179,000 $783,080 Down ×1
MEDP Medpace Holdings, Inc. - Common Stock $4,501,515 0.42% 8,500
MDGL Madrigal Pharmaceuticals, Inc. - Common Stock $4,322,447 0.41% 8,050 $-8,267,007 Down ×1
AMGN Amgen Inc. - Common Stock $4,309,228 0.41% 11,900 $-1,038,892 Down ×2
SION Sionna Therapeutics, Inc. - Common Stock $4,271,429 0.40% 97,100 $763,554 Up ×1
Unknown issuer (CUSIP: K08588103) $4,000,800 0.38% 15,000 Up ×1
COO The Cooper Companies, Inc. - Common Stock $3,872,340 0.37% 54,000 $297,340 Up ×1
WAY Waystar Holding Corp. - Common Stock $3,665,960 0.35% 178,566 $-4,593,306 Down ×1
MBX MBX Biosciences, Inc. - Common Stock $3,422,400 0.32% 62,000 Up ×1
VCEL Vericel Corporation - Common Stock $3,114,300 0.29% 70,000 $862,400
VEEV Veeva Systems Inc. Class A Common Stock $3,070,231 0.29% 17,300 $-11,913,567 Down ×1
BCAX Bicara Therapeutics Inc. - Common Stock $2,617,173 0.25% 88,150 Up ×1
STE STERIS plc (Ireland) Ordinary Shares $2,421,555 0.23% 11,500 $-121,440
OCUL Ocular Therapeutix, Inc. - Common Stock $2,209,500 0.21% 225,000 $-373,850 Down ×1
STOK Stoke Therapeutics, Inc. - Common Stock $2,110,440 0.20% 64,500 $-592,040 Down ×3
XENE Xenon Pharmaceuticals Inc. - Common Shares $2,006,970 0.19% 33,250 $378,770 Up ×1
DOCS Doximity, Inc. Class A Common Stock $1,578,459 0.15% 76,107 $-2,704,267 Down ×2
PRVA Privia Health Group, Inc. - Common Stock $1,286,500 0.12% 50,000
NVCR NovoCure Limited - Ordinary Shares $1,060,500 0.10% 70,000 $297,500
Unknown issuer (CUSIP: 60365F109) $822,250 0.08% 55,000 Up ×1
ATEC Alphatec Holdings, Inc. - Common Stock $735,250 0.07% 85,000 $-26,350 Up ×3
Unknown issuer (CUSIP: 00857U206) $535,900 0.05% 5,000 Up ×1
TXG 10x Genomics, Inc. - Common Stock $325,890 0.03% 8,500 Up ×1
TNDM Tandem Diabetes Care, Inc. - Common Stock $301,800 0.03% 20,000 Up ×1
TGTX TG Therapeutics, Inc. - Common Stock $274,700 0.03% 5,000

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security Value % of portfolio Streak
GILD $22,520,105 2.13% up ×3
NTRA $16,572,022 1.56% up ×3
STVN $5,528,914 0.52% up ×3
ATEC $735,250 0.07% up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
AZN $28,480,798 151,500 2.69%
MRK $27,434,750 213,500 2.59%
JNJ $18,412,825 72,500 1.74%
CNC $15,662,360 244,000 1.48%
DXCM $10,776,000 160,000 1.02%
SYRE $10,591,454 119,300 1.00%
ORKA $7,613,600 80,000 0.72%
ERAS $6,393,680 349,000 0.60%
ASTH $5,517,592 118,888 0.52%
MOH $4,998,696 21,857 0.47%
AMN $4,676,364 144,466 0.44%
MEDP $4,501,515 8,500 0.42%
Unknown issuer (CUSIP: K08588103) $4,000,800 15,000 0.38%
MBX $3,422,400 62,000 0.32%
BCAX $2,617,173 88,150 0.25%

Top movers (QoQ)

Security Action Shares Δ Value Δ
UNH Bought more +48K +$26.6M
REGN Trimmed -21K -$20.1M
BSX Trimmed -174K -$20.0M
VEEV Trimmed -68K -$11.9M
DHR Bought more +62K +$11.9M
NRIX Bought more +371K +$11.7M
EW Bought more +97K +$10.5M
INSM Trimmed -8K -$9.9M
ABBV Bought more +25K +$8.8M
CRL Bought more +31K +$8.5M

2 positions hidden (data completeness check)

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
VERA March 31, 2026 420,000 $21,268,800 -21.3%
BMY June 30, 2025 325,000 $19,821,750 42.7%
EXAS Dec. 31, 2025 348,000 $19,039,080 No longer tracked
CAH Dec. 31, 2025 94,000 $14,754,240 12.2%
ITCI March 31, 2025 176,000 $14,699,520 No longer tracked
DXCM Sept. 30, 2025 159,500 $13,922,755 32.9%
ABT Dec. 31, 2025 98,500 $13,193,090 -8.7%
HUM June 30, 2025 46,830 $12,391,218 57.1%
HCA Sept. 30, 2025 29,778 $11,407,952 -2.4%
AKRO Dec. 31, 2025 230,600 $10,948,888 No longer tracked
VRNA Sept. 30, 2025 106,500 $10,072,770 No longer tracked
ADPT June 30, 2026 720,000 $9,993,600 16.9%
ZBH June 30, 2025 87,250 $9,874,955 8.9%
PEN March 31, 2026 31,500 $9,793,665 -1.3%
APLS March 31, 2026 374,450 $9,406,184 No longer tracked
IQV June 30, 2026 53,000 $9,038,620 32.6%
ACLX March 31, 2026 133,500 $8,704,200 No longer tracked
NUVL June 30, 2026 81,200 $8,318,940 No longer tracked
SYK March 31, 2025 22,500 $8,101,125 -11.2%
DVAX Dec. 31, 2025 772,000 $7,665,960 No longer tracked
BRKR March 31, 2026 147,315 $6,940,010 63.1%
OSCR Sept. 30, 2025 312,092 $6,691,252 62.8%
MOH Sept. 30, 2025 22,200 $6,613,380 3.6%
APGE June 30, 2026 75,000 $6,312,750 1.6%
ALC Sept. 30, 2025 68,000 $5,989,836 -2.3%
UHS March 31, 2025 30,900 $5,544,078 -7.1%
MRUS Dec. 31, 2025 53,500 $5,037,025 No longer tracked
ASTH Sept. 30, 2025 190,000 $4,727,200 38.1%
SYK Sept. 30, 2025 11,500 $4,549,745 -10.6%
BDX June 30, 2025 19,000 $4,352,140 39.4%
NVO March 31, 2025 50,000 $4,301,000 -32.7%
RYTM March 31, 2026 35,000 $3,746,400 26.2%
RARE Dec. 31, 2025 119,400 $3,591,552 13.6%
ASND June 30, 2026 15,000 $3,430,950 -3.3%
UTHR Dec. 31, 2025 8,000 $3,353,680 8.0%
RDNT March 31, 2026 47,000 $3,353,450 36.3%
INSP March 31, 2026 35,800 $3,301,834 17.7%
JANX March 31, 2026 225,377 $3,110,203 26.5%
PRVA March 31, 2026 125,000 $2,963,750 3.1%
MRK June 30, 2025 33,000 $2,962,080 91.6%
CYTK March 31, 2026 44,375 $2,819,588 17.5%
CRL March 31, 2025 14,850 $2,741,310 92.8%
ESPR June 30, 2026 985,000 $2,698,900 No longer tracked
IMCR June 30, 2026 85,724 $2,584,579 13.5%
XNCR March 31, 2026 165,750 $2,537,633 130.8%
ANNX Dec. 31, 2025 823,000 $2,510,150 3.6%
CNTA March 31, 2026 100,000 $2,501,000 No longer tracked
UHS Dec. 31, 2025 12,000 $2,453,280 -19.9%
RGEN Sept. 30, 2025 19,500 $2,425,410 32.1%
TMDX March 31, 2025 38,000 $2,369,300 37.0%
TGTX March 31, 2026 73,250 $2,183,583 66.1%
BNTX March 31, 2026 20,870 $1,986,824 29.0%
WST March 31, 2026 7,000 $1,925,980 40.7%
CNC March 31, 2026 46,231 $1,902,406 96.0%
QURE March 31, 2026 79,375 $1,899,444 202.3%
SMMT Sept. 30, 2025 78,000 $1,659,840 -36.6%
ESPR June 30, 2025 1,066,495 $1,535,753 No longer tracked
PLRX March 31, 2025 116,250 $1,531,013 -17.0%
VIR June 30, 2025 200,000 $1,296,000 86.7%
ARVN June 30, 2025 183,000 $1,284,660 24.0%
AMGN June 30, 2025 4,000 $1,246,200 56.2%
GERN June 30, 2025 783,000 $1,244,970 10.3%
IRTC March 31, 2026 7,000 $1,242,080 8.6%
ICLR June 30, 2025 7,000 $1,224,930 18.7%
MEDP June 30, 2025 3,800 $1,157,822 94.1%
TECH Dec. 31, 2025 15,000 $834,450 22.9%
AVTR June 30, 2025 47,826 $775,259 5.4%
IGMS March 31, 2025 126,064 $770,251 No longer tracked
IDYA June 30, 2025 39,500 $647,010 92.9%
CMPX June 30, 2026 115,113 $608,948 10.3%
ACHC March 31, 2025 13,750 $545,188 -11.7%
IMVT June 30, 2025 25,924 $443,041 178.4%
INMB Sept. 30, 2025 178,284 $411,836 7.7%
TECH March 31, 2025 3,000 $216,090 23.3%