# EDGAR Filing Document

**Accession Number:** 0001442756
**File Stem:** 0001085146-25-005245
**Filing Date:** 2025-8
**Character Count:** 10231
**Document Hash:** 9d713ec7364b6e6b597136d742b114d2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001085146-25-005245.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001085146-25-005245

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**EFFECTIVENESS DATE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PFM Health Sciences, LP
- **CENTRAL INDEX KEY:** 0001442756

**ORGANIZATION NAME:**
- **EIN:** 262000428
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13169
- **FILM NUMBER:** 251218428

**BUSINESS ADDRESS:**
- **STREET 1:** 475 SANSOME STREET
- **STREET 2:** SUITE 1720
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111
- **BUSINESS PHONE:** 415-281-1022

**MAIL ADDRESS:**
- **STREET 1:** 475 SANSOME STREET
- **STREET 2:** SUITE 1720
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94111

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Partner Fund Management, L.P.
- **DATE OF NAME CHANGE:** 20080812

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** PFM Health Sciences LP<br>**Address:** 475 SANSOME STREET<br>SUITE 1720<br>SAN FRANCISCO, CA 94111

**Form 13F File Number:** 028-13169

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Darren Mooney<br>**Title:** Chief Compliance Officer<br>**Phone:** 415-281-1000

**Signature, Place, and Date of Signing:**

/s/Darren Mooney  San Francisco, CA  08-14-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 57

**Form 13F Information Table Value Total:** $1174613562

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBVIE INC | COM | 00287Y109 | BBG0025Y4RZ3 | 7569955 | 40782 | SH |  | DFND |  | 0 | 40782 | 0 |
| AKERO THERAPEUTICS INC | COM | 00973Y108 | BBG00L9211Z7 | 14202671 | 266167 | SH |  | DFND |  | 0 | 266167 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 | BBG001S7FTC8 | 23550220 | 72220 | SH |  | DFND |  | 0 | 72220 | 0 |
| AMYLYX PHARMACEUTICALS INC | COM | 03237H101 | BBG00DP10YW1 | 4693761 | 732256 | SH |  | DFND |  | 0 | 732256 | 0 |
| ARCUTIS BIOTHERAPEUTICS INC | COM | 03969K108 | BBG00QN8K4P1 | 12945718 | 923375 | SH |  | DFND |  | 0 | 923375 | 0 |
| ARGENX SE | SPONSORED ADR | 04016X101 | BBG00GHB88Y8 | 3989179 | 7237 | SH |  | DFND |  | 0 | 7237 | 0 |
| ASCENDIS PHARMA A/S | NOTE 2.250% 4/0 | 04351PAD3 |  | 28841447 | 23000000 | PRN |  | DFND |  | 0 | 23000000 | 0 |
| ASCENDIS PHARMA A/S | SPONSORED ADR | 04351P101 | BBG007R7VP72 | 38274740 | 221754 | SH |  | DFND |  | 0 | 221754 | 0 |
| AXSOME THERAPEUTICS INC | COM | 05464T104 | BBG00B6G7GM6 | 50431331 | 483105 | SH |  | DFND |  | 0 | 483105 | 0 |
| BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 | BBG001S76R05 | 9802195 | 178319 | SH |  | DFND |  | 0 | 178319 | 0 |
| BLUEPRINT MEDICINES CORP | COM | 09627Y109 | BBG001V11BV0 | 6209552 | 48444 | SH |  | DFND |  | 0 | 48444 | 0 |
| BRIDGEBIO PHARMA INC | COM | 10806X102 | BBG00P9KDZL5 | 22531022 | 521793 | SH |  | DFND |  | 0 | 521793 | 0 |
| CARIBOU BIOSCIENCES INC | COM | 142038108 | BBG008G28LH7 | 1712127 | 1358831 | SH |  | DFND |  | 0 | 1358831 | 0 |
| CENCORA INC | COM | 03073E105 | BBG001S8X7P0 | 15978107 | 53287 | SH |  | DFND |  | 0 | 53287 | 0 |
| CENTESSA PHARMACEUTICALS PLC | SPONSORED ADS | 152309100 | BBG01081FC68 | 4532932 | 344972 | SH |  | DFND |  | 0 | 344972 | 0 |
| COMPASS PATHWAYS PLC | SPONSORED ADS | 20451W101 | BBG00X0VY3F8 | 4981925 | 1779259 | SH |  | DFND |  | 0 | 1779259 | 0 |
| CVS HEALTH CORP | COM | 126650100 | BBG001S5QBD8 | 33041765 | 479005 | SH |  | DFND |  | 0 | 479005 | 0 |
| DANAHER CORPORATION | COM | 235851102 | BBG001S5QGT0 | 31885524 | 161413 | SH |  | DFND |  | 0 | 161413 | 0 |
| DISC MEDICINE INC | COM | 254604101 | BBG00W9MJL04 | 1631115 | 30799 | SH |  | DFND |  | 0 | 30799 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 | BBG001SF2288 | 30697660 | 392503 | SH |  | DFND |  | 0 | 392503 | 0 |
| ELI LILLY  CO | COM | 532457108 | BBG001S5STL8 | 208931969 | 268023 | SH |  | DFND |  | 0 | 268023 | 0 |
| ERASCA INC | COM | 29479A108 | BBG00MTSR892 | 1361724 | 1072224 | SH |  | DFND |  | 0 | 1072224 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 | BBG001T8NTY2 | 27694299 | 72290 | SH |  | DFND |  | 0 | 72290 | 0 |
| HOLOGIC INC | COM | 436440101 | BBG001S6HWB2 | 13813008 | 211986 | SH |  | DFND |  | 0 | 211986 | 0 |
| HUMANA INC | COM | 444859102 | BBG001S5S1X6 | 26773249 | 109511 | SH |  | DFND |  | 0 | 109511 | 0 |
| ICON PLC | SHS | G4705A100 | BBG001SDCL35 | 12825926 | 88181 | SH |  | DFND |  | 0 | 88181 | 0 |
| INDIVIOR PLC | ORD | G4766E116 | BBG003T4KGV1 | 19986423 | 1355931 | SH |  | DFND |  | 0 | 1355931 | 0 |
| INHIBRX BIOSCIENCES INC | COM | 45720N103 | BBG01MS5QB96 | 3485604 | 244261 | SH |  | DFND |  | 0 | 244261 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 | BBG001S7XR78 | 48345557 | 88967 | SH |  | DFND |  | 0 | 88967 | 0 |
| IO BIOTECH INC | COM | 449778109 | BBG0131XRYY7 | 2741181 | 1972073 | SH |  | DFND |  | 0 | 1972073 | 0 |
| IRHYTHM TECHNOLOGIES INC | COM | 450056106 | BBG001TSQV70 | 13572652 | 88157 | SH |  | DFND |  | 0 | 88157 | 0 |
| MASIMO CORP | COM | 574795100 | BBG001S71GQ6 | 15888547 | 94451 | SH |  | DFND |  | 0 | 94451 | 0 |
| MCKESSON CORP | COM | 58155Q103 | BBG001S8F8P8 | 52989520 | 72313 | SH |  | DFND |  | 0 | 72313 | 0 |
| MERUS N V | COM | N5749R100 | BBG00B8LXMT4 | 9672193 | 183882 | SH |  | DFND |  | 0 | 183882 | 0 |
| MOLINA HEALTHCARE INC | COM | 60855R100 | BBG001SKBQ20 | 25541648 | 85739 | SH |  | DFND |  | 0 | 85739 | 0 |
| NATERA INC | COM | 632307104 | BBG001V0FSF8 | 17105175 | 101250 | SH |  | DFND |  | 0 | 101250 | 0 |
| NEOGENOMICS INC | COM NEW | 64049M209 | BBG001S9DSY4 | 5628978 | 770038 | SH |  | DFND |  | 0 | 770038 | 0 |
| NEUROCRINE BIOSCIENCES INC | COM | 64125C109 | BBG001S8W4X9 | 1611471 | 12821 | SH |  | DFND |  | 0 | 12821 | 0 |
| OSCAR HEALTH INC | CL A | 687793109 | BBG00YMWFVT4 | 15759108 | 735033 | SH |  | DFND |  | 0 | 735033 | 0 |
| OUTSET MED INC | COM NEW | 690145206 | BBG0026ZJTR8 | 31979406 | 1664727 | SH |  | DFND |  | 0 | 1664727 | 0 |
| PENUMBRA INC | COM | 70975L107 | BBG001TRHPB0 | 42667560 | 166261 | SH |  | DFND |  | 0 | 166261 | 0 |
| PRAXIS PRECISION MEDICINES I | COM NEW | 74006W207 | BBG00W9LF2H4 | 3562182 | 84713 | SH |  | DFND |  | 0 | 84713 | 0 |
| REZOLUTE INC | COM NEW | 76200L309 | BBG001XWWJC0 | 1936238 | 434134 | SH |  | DFND |  | 0 | 434134 | 0 |
| SAGIMET BIOSCIENCES INC | COM SER A | 786700104 | BBG0020584Z8 | 685800 | 90000 | SH |  | DFND |  | 0 | 90000 | 0 |
| SOLENO THERAPEUTICS INC | COM | 834203309 | BBG0024L5B95 | 34115384 | 407202 | SH |  | DFND |  | 0 | 407202 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 | BBG001S72SM3 | 10583153 | 17129 | SH |  | DFND |  | 0 | 17129 | 0 |
| STRUCTURE THERAPEUTICS INC | SPONSORED ADS | 86366E106 | BBG01CBVHMQ6 | 1173760 | 56594 | SH |  | DFND |  | 0 | 56594 | 0 |
| TENET HEALTHCARE CORP | COM NEW | 88033G407 | BBG001S70FY0 | 87866768 | 499243 | SH |  | DFND |  | 0 | 499243 | 0 |
| TEVA PHARMACEUTICAL INDS LTD | SPONSORED ADS | 881624209 | BBG001S62NT9 | 20763059 | 1238846 | SH |  | DFND |  | 0 | 1238846 | 0 |
| UNIQURE NV | SHS | N90064101 | BBG005SSJYG4 | 2430174 | 174331 | SH |  | DFND |  | 0 | 174331 | 0 |
| UNITED THERAPEUTICS CORP DEL | COM | 91307C102 | BBG001S8RV10 | 10456954 | 36391 | SH |  | DFND |  | 0 | 36391 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 | BBG001S6WCJ1 | 10801337 | 34623 | SH |  | DFND |  | 0 | 34623 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 | BBG001S6WCJ1 | 20278050 | 65000 | SH | Put | DFND |  | 0 | 65000 | 0 |
| VERONA PHARMA PLC | SPONSORED ADS | 925050106 | BBG00GD4KBM0 | 7605745 | 80416 | SH |  | DFND |  | 0 | 80416 | 0 |
| VIKING THERAPEUTICS INC | COM | 92686J106 | BBG006LGV887 | 999819 | 37729 | SH |  | DFND |  | 0 | 37729 | 0 |
| WATERS CORP | COM | 941848103 | BBG001S8MDG9 | 15039785 | 43089 | SH |  | DFND |  | 0 | 43089 | 0 |
| WEREWOLF THERAPEUTICS INC | COM | 95075A107 | BBG00QXQ9XL3 | 437210 | 401110 | SH |  | DFND |  | 0 | 401110 | 0 |

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