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Krensavage Asset Management, LLC — 13F Holdings & Portfolio

CIK 1609251 · latest 13F-HR filed 2026-08-14

Backtest portfolio

Krensavage Asset Management, LLC manages $263.2M in 13F-reported U.S. long-equity assets across 18 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are ENTA (15.88%), JAZZ (15.36%), UTHR (14.26%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 0 new positions and exited 2; 9 existing positions rose in reported value and 7 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Loading holdings…
AUM
$263.2M

Long-equity book

Holdings
18

Distinct positions

Period
2026-06-30

Filed 2026-08-14

Q/Q Activity
+0 / −2 / ↑9 / ↓7

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
ENTA15.9% · 0%JAZZ15.4% · 0%UTHR14.3% · -18%BMRN11.4% · 0%EXEL7.7% · -11%ABT6.9% · +3900%SNY5.2% · 0%SUPN5.0% · 0%RARE5.0% · 0%VNDA2.7% · 0%BNTX2.1% · 0%GSK1.9% · 0%BIIB1.6% · 0%REGN1.4% · +50%EMBC1.4% · +54%ARDX1.0% · +7%INMD0.7% · 0%EOLS0.4% · 0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 89.4%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 25, 2026.

Assets Under Management
$300.2M
Discretionary
$300.2M
Employees
4
Accounts
2
Address
610 FIFTH AVENUE
SUITE 301
NEW YORK, NY 10020
Phone
(212) 888-1582
Website
Name Title / Status Ownership Type
KRENSAVAGE, MICHAEL, PAUL ControlMANAGING MEMBER/CHIEF EXECUTIVE OFFICER
since Mar 2008
75% or moreIndividual
PAOLINO, PAUL, JOSEPH ControlCHIEF FINANCIAL OFFICER
since Oct 2013
Less than 5%Individual
PAOLINO, PAUL, JOSEPH ControlCHIEF COMPLIANCE OFFICER
since Apr 2021
Less than 5%Individual
Ownership & leadership changes · 4 filings with changes since Sep 24, 2013

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Apr 22, 2021 filing
  • No longer listedIRELAND, KELLY, FRANCI · CHIEF COMPLIANCE OFFICER / CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Mar 2019
  • ChangedPAOLINO, PAUL, JOSEPH · title CHIEF FINANCIAL OFFICER → CHIEF COMPLIANCE OFFICER / CHIEF FINANCIAL OFFICER
Mar 8, 2019 filing
  • AddedIRELAND, KELLY, FRANCI · CHIEF COMPLIANCE OFFICER / CHIEF OPERATING OFFICER · Less than 5% · control person
  • ChangedPAOLINO, PAUL, JOSEPH · title CHIEF COMPLIANCE OFFICER / CHIEF FINANCIAL OFFICER → CHIEF FINANCIAL OFFICER
Nov 19, 2018 filing
  • No longer listedPARKS, LOUIS, A · CHIEF COMPLIANCE OFFICER/CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Jan 2014
  • ChangedPAOLINO, PAUL, JOSEPH · title CHIEF FINANCIAL OFFICER → CHIEF COMPLIANCE OFFICER / CHIEF FINANCIAL OFFICER
Mar 6, 2014 filing
  • AddedPAOLINO, PAUL, JOSEPH · CHIEF FINANCIAL OFFICER · Less than 5% · control person
  • AddedPARKS, LOUIS, A · CHIEF COMPLIANCE OFFICER/CHIEF OPERATING OFFICER · Less than 5% · control person
  • ChangedKRENSAVAGE, MICHAEL, PAUL · title MANAGING MEMBER/CHIEF COMPLIANCE OFFICER → MANAGING MEMBER/CHIEF EXECUTIVE OFFICER
Sep 24, 2013 filing (earliest on record)
  • ListedKRENSAVAGE, MICHAEL, PAUL · MANAGING MEMBER/CHIEF COMPLIANCE OFFICER · 75% or more · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 9 →

Top Trims

Show all 7 →

New Positions

  • No new positions this quarter.
Show all 0 →

Exited Positions

Show all 2 →

Krensavage Asset Management, LLC Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 ENANTA PHARMACEUTICALS INC ENTA 29251M106 $41.8M 15.88% 2,866,138 SH
2 JAZZ PHARMACEUTICALS PLC JAZZ G50871105 $40.4M 15.36% 167,816 SH
3 UNITED THERAPEUTICS CORP UTHR 91307C102 $37.5M 14.26% 69,282 SH
4 BIOMARIN PHARMACEUTICAL INC BMRN 09061G101 $30.0M 11.41% 524,786 SH
5 EXELIXIS INC EXEL 30161Q104 $20.2M 7.66% 370,693 SH
6 ABBOTT LABORATORIES ABT 002824100 $18.1M 6.89% 200,000 SH
7 SANOFI-ADR SNY 80105N105 $13.8M 5.25% 323,946 SH
8 SUPERNUS PHARMACEUTICALS INC SUPN 868459108 $13.1M 4.96% 280,681 SH
9 ULTRAGENYX PHARMACEUTICAL IN RARE 90400D108 $13.1M 4.96% 390,879 SH
10 VANDA PHARMACEUTICALS INC VNDA 921659108 $7.2M 2.74% 1,180,388 SH
11 BIONTECH SE-ADR BNTX 09075V102 $5.5M 2.10% 59,523 SH
12 GSK PLC-SPON ADR GSK 37733W204 $5.1M 1.93% 96,729 SH
13 BIOGEN INC BIIB 09062X103 $4.3M 1.64% 20,000 SH
14 REGENERON PHARMACEUTICALS REGN 75886F107 $3.7M 1.42% 6,000 SH
15 EMBECTA CORP EMBC 29082K105 $3.7M 1.41% 1,135,340 SH
16 ARDELYX INC ARDX 039697107 $2.7M 1.04% 534,523 SH
17 INMODE LTD INMD M5425M103 $1.8M 0.67% 120,942 SH
18 EVOLUS INC EOLS 30052C107 $1.1M 0.42% 157,985 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $263.2M 18 0001609251-26-000005
2026-03-31 2026-05-15 $255.7M 20 0001609251-26-000004
2025-12-31 2026-02-18 $283.1M 18 0001609251-26-000003
2025-09-30 2025-11-17 $234.7M 17 0001609251-25-000007
Filer Information
Address
610 FIFTH AVENUE
SUITE 301
NEW YORK, NY 10020
Phone
(212) 888-1582
Filing Manager
Krensavage Asset Management, LLC
NEW YORK, NY
Signatory
Paul Paolino
Chief Financial Officer/Chief Compliance Officer