# EDGAR Filing Document

**Accession Number:** 0001599882
**File Stem:** 0001213900-25-075249
**Filing Date:** 2025-8
**Character Count:** 12475
**Document Hash:** 1e69a6e9db66c750903f899168829b5e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-075249.hdr.sgml**: 20250813

**ACCESSION NUMBER**: 0001213900-25-075249

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250813

**DATE AS OF CHANGE**: 20250813

**EFFECTIVENESS DATE**: 20250813

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Rhenman & Partners Asset Management AB
- **CENTRAL INDEX KEY:** 0001599882

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** V7

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15944
- **FILM NUMBER:** 251208847

**BUSINESS ADDRESS:**
- **STREET 1:** STRANDVAGEN 5A
- **CITY:** STOCKHOLM
- **STATE:** V7
- **ZIP:** 11451
- **BUSINESS PHONE:** 4684598880

**MAIL ADDRESS:**
- **STREET 1:** STRANDVAGEN 5A
- **CITY:** STOCKHOLM
- **STATE:** V7
- **ZIP:** 11451

### 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:** Rhenman  Partners Asset Management AB<br>**Address:** Strandvagen 5a<br>Stockholm, V7 11451

**Form 13F File Number:** 028-15944

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:** Teresa Isele<br>**Title:** CEO<br>**Phone:** 46-8-459-88-80

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

/s/ Teresa Isele  Stockholm, V7  08-13-2025<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:** 90

**Form 13F Information Table Value Total:** $791015290

      (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 |
| ABBOTT LABS | COM | 002824100 |  | 7956585 | 58500 | SH |  | SOLE |  | 58500 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 12877388 | 69375 | SH |  | SOLE |  | 69375 | 0 | 0 |
| AKERO THERAPEUTICS INC | COM | 00973Y108 |  | 10543936 | 197600 | SH |  | SOLE |  | 197600 | 0 | 0 |
| ALCON AG | ORD SHS | H01301128 |  | 5989836 | 68000 | SH |  | SOLE |  | 68000 | 0 | 0 |
| ALIGN TECHNOLOGY INC | COM | 016255101 |  | 12590445 | 66500 | SH |  | SOLE |  | 66500 | 0 | 0 |
| ALIGNMENT HEALTHCARE INC | COM | 01625V104 |  | 18021976 | 1287284 | SH |  | SOLE |  | 1287284 | 0 | 0 |
| ALKERMES PLC | SHS | G01767105 |  | 1115790 | 39000 | SH |  | SOLE |  | 39000 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 16694830 | 51197 | SH |  | SOLE |  | 51197 | 0 | 0 |
| ANNEXON INC | COM | 03589W102 |  | 1104000 | 460000 | SH |  | SOLE |  | 460000 | 0 | 0 |
| ANTERIS TECHNOLOGIES GLOBAL | COM | 03675P102 |  | 4740392 | 1250763 | SH |  | SOLE |  | 1250763 | 0 | 0 |
| APELLIS PHARMACEUTICALS INC | COM | 03753U106 |  | 1614158 | 93250 | SH |  | SOLE |  | 93250 | 0 | 0 |
| ARCELLX INC | COMMON STOCK | 03940C100 |  | 4428413 | 67250 | SH |  | SOLE |  | 67250 | 0 | 0 |
| ASTRANA HEALTH INC | COM NEW | 03763A207 |  | 4727200 | 190000 | SH |  | SOLE |  | 190000 | 0 | 0 |
| AXSOME THERAPEUTICS INC | COM | 05464T104 |  | 9478612 | 90800 | SH |  | SOLE |  | 90800 | 0 | 0 |
| BIOGEN INC | COM | 09062X103 |  | 1507080 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 |  | 8226261 | 149650 | SH |  | SOLE |  | 149650 | 0 | 0 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 771750 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| BIONTECH SE | SPONSORED ADS | 09075V102 |  | 3819079 | 35870 | SH |  | SOLE |  | 35870 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 31793360 | 296000 | SH |  | SOLE |  | 296000 | 0 | 0 |
| BRUKER CORP | COM | 116794108 |  | 5080578 | 123315 | SH |  | SOLE |  | 123315 | 0 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 9240000 | 55000 | SH |  | SOLE |  | 55000 | 0 | 0 |
| CENCORA INC | COM | 03073E105 |  | 14805094 | 49375 | SH |  | SOLE |  | 49375 | 0 | 0 |
| CENTENE CORP DEL | COM | 15135B101 |  | 5414810 | 99757 | SH |  | SOLE |  | 99757 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 |  | 10578560 | 32000 | SH |  | SOLE |  | 32000 | 0 | 0 |
| COOPER COS INC | COM | 216648501 |  | 12097200 | 170000 | SH |  | SOLE |  | 170000 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 20374071 | 295362 | SH |  | SOLE |  | 295362 | 0 | 0 |
| CYTOKINETICS INC | COM NEW | 23282W605 |  | 3444420 | 104250 | SH |  | SOLE |  | 104250 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 23991628 | 121452 | SH |  | SOLE |  | 121452 | 0 | 0 |
| DENALI THERAPEUTICS INC | COM | 24823R105 |  | 1399000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| DEXCOM INC | COM | 252131107 |  | 13922755 | 159500 | SH |  | SOLE |  | 159500 | 0 | 0 |
| DIANTHUS THERAPEUTICS INC | COM | 252828108 |  | 2359061 | 126627 | SH |  | SOLE |  | 126627 | 0 | 0 |
| DOXIMITY INC | CL A | 26622P107 |  | 1288140 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| DYNAVAX TECHNOLOGIES CORP | COM NEW | 268158201 |  | 5604800 | 565000 | SH |  | SOLE |  | 565000 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 4301550 | 55000 | SH |  | SOLE |  | 55000 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 17367064 | 44650 | SH |  | SOLE |  | 44650 | 0 | 0 |
| ENCOMPASS HEALTH CORP | COM | 29261A100 |  | 16726732 | 136400 | SH |  | SOLE |  | 136400 | 0 | 0 |
| EXACT SCIENCES CORP | COM | 30063P105 |  | 18599000 | 350000 | SH |  | SOLE |  | 350000 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 18642791 | 168150 | SH |  | SOLE |  | 168150 | 0 | 0 |
| GLAUKOS CORP | COM | 377322102 |  | 24273150 | 235000 | SH |  | SOLE |  | 235000 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 11407952 | 29778 | SH |  | SOLE |  | 29778 | 0 | 0 |
| IMMUNOCORE HLDGS PLC | ADS | 45258D105 |  | 887364 | 28278 | SH |  | SOLE |  | 28278 | 0 | 0 |
| INMUNE BIO INC | COM | 45782T105 |  | 411836 | 178284 | SH |  | SOLE |  | 178284 | 0 | 0 |
| INSMED INC | COM PAR $.01 | 457669307 |  | 17655778 | 175435 | SH |  | SOLE |  | 175435 | 0 | 0 |
| INSPIRE MED SYS INC | COM | 457730109 |  | 3957985 | 30500 | SH |  | SOLE |  | 30500 | 0 | 0 |
| INSULET CORP | COM | 45784P101 |  | 14452280 | 46000 | SH |  | SOLE |  | 46000 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 24100234 | 44350 | SH |  | SOLE |  | 44350 | 0 | 0 |
| IONIS PHARMACEUTICALS INC | COM | 462222100 |  | 7190820 | 182000 | SH |  | SOLE |  | 182000 | 0 | 0 |
| IOVANCE BIOTHERAPEUTICS INC | COM | 462260100 |  | 1114262 | 647827 | SH |  | SOLE |  | 647827 | 0 | 0 |
| IQVIA HLDGS INC | COM | 46266C105 |  | 2048670 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| JANUX THERAPEUTICS INC | COM | 47103J105 |  | 1273434 | 55127 | SH |  | SOLE |  | 55127 | 0 | 0 |
| JAZZ PHARMACEUTICALS PLC | SHS USD | G50871105 |  | 11570264 | 109030 | SH |  | SOLE |  | 109030 | 0 | 0 |
| KRYSTAL BIOTECH INC | COM | 501147102 |  | 1752615 | 12750 | SH |  | SOLE |  | 12750 | 0 | 0 |
| KURA ONCOLOGY IN | COM | 50127T109 |  | 1442500 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| LILLY ELI  CO | COM | 532457108 |  | 45111401 | 57870 | SH |  | SOLE |  | 57870 | 0 | 0 |
| LIVANOVA PLC | SHS | G5509L101 |  | 2386060 | 53000 | SH |  | SOLE |  | 53000 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 20310463 | 27717 | SH |  | SOLE |  | 27717 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 15647015 | 179500 | SH |  | SOLE |  | 179500 | 0 | 0 |
| MERUS N V | COM | N5749R100 |  | 6101600 | 116000 | SH |  | SOLE |  | 116000 | 0 | 0 |
| MIRUM PHARMACEUTICALS INC | COM | 604749101 |  | 3346272 | 65755 | SH |  | SOLE |  | 65755 | 0 | 0 |
| MOLINA HEALTHCARE INC | COM | 60855R100 |  | 6613380 | 22200 | SH |  | SOLE |  | 22200 | 0 | 0 |
| MOONLAKE IMMUNOTHERAPEUTICS | CLASS A ORD | 61559X104 |  | 2124000 | 45000 | SH |  | SOLE |  | 45000 | 0 | 0 |
| NATERA INC | COM | 632307104 |  | 9714050 | 57500 | SH |  | SOLE |  | 57500 | 0 | 0 |
| NEUROCRINE BIOSCIENCES INC | COM | 64125C109 |  | 18755085 | 149217 | SH |  | SOLE |  | 149217 | 0 | 0 |
| NURIX THERAPEUTICS INC | COM | 67080M103 |  | 2107150 | 185000 | SH |  | SOLE |  | 185000 | 0 | 0 |
| NUVALENT INC | COM | 670703107 |  | 4005750 | 52500 | SH |  | SOLE |  | 52500 | 0 | 0 |
| OSCAR HEALTH INC | CL A | 687793109 |  | 6691252 | 312092 | SH |  | SOLE |  | 312092 | 0 | 0 |
| PENUMBRA INC | COM | 70975L107 |  | 5517545 | 21500 | SH |  | SOLE |  | 21500 | 0 | 0 |
| PRIVIA HEALTH GROUP INC | COM | 74276R102 |  | 2097347 | 91189 | SH |  | SOLE |  | 91189 | 0 | 0 |
| PROCEPT BIOROBOTICS CORP | COM | 74276L105 |  | 10944000 | 190000 | SH |  | SOLE |  | 190000 | 0 | 0 |
| RADNET INC | COM | 750491102 |  | 2617860 | 46000 | SH |  | SOLE |  | 46000 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 14542500 | 27700 | SH |  | SOLE |  | 27700 | 0 | 0 |
| RELAY THERAPEUTICS INC | COM | 75943R102 |  | 1591600 | 460000 | SH |  | SOLE |  | 460000 | 0 | 0 |
| REPLIGEN CORP | COM | 759916109 |  | 2425410 | 19500 | SH |  | SOLE |  | 19500 | 0 | 0 |
| ROYALTY PHARMA PLC | SHS CLASS A | G7709Q104 |  | 12394320 | 344000 | SH |  | SOLE |  | 344000 | 0 | 0 |
| STRUCTURE THERAPEUTICS INC | SPONSORED ADS | 86366E106 |  | 2801974 | 135100 | SH |  | SOLE |  | 135100 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 4549745 | 11500 | SH |  | SOLE |  | 11500 | 0 | 0 |
| SUMMIT THERAPEUTICS INC | COM | 86627T108 |  | 1659840 | 78000 | SH |  | SOLE |  | 78000 | 0 | 0 |
| SYNDAX PHARMACEUTICALS INC | COM | 87164F105 |  | 5375510 | 574000 | SH |  | SOLE |  | 574000 | 0 | 0 |
| TENET HEALTHCARE CORP | COM NEW | 88033G407 |  | 24011504 | 136429 | SH |  | SOLE |  | 136429 | 0 | 0 |
| TG THERAPEUTICS INC | COM | 88322Q108 |  | 4138850 | 115000 | SH |  | SOLE |  | 115000 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 4516824 | 11140 | SH |  | SOLE |  | 11140 | 0 | 0 |
| ULTRAGENYX PHARMACEUTICAL INC | COM | 90400D108 |  | 3385116 | 93100 | SH |  | SOLE |  | 93100 | 0 | 0 |
| UNITED HEALTH GROUP INC | COM | 91324P102 |  | 9493247 | 30430 | SH |  | SOLE |  | 30430 | 0 | 0 |
| UNIVERSAL HLTH SVCS INC | CL B | 913903100 |  | 4709900 | 26000 | SH |  | SOLE |  | 26000 | 0 | 0 |
| VERICEL CORP | COM | 92346J108 |  | 2467900 | 58000 | SH |  | SOLE |  | 58000 | 0 | 0 |
| VERONA PHARMA PLC | SPONSORED ADS | 925050106 |  | 10072770 | 106500 | SH |  | SOLE |  | 106500 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 27359766 | 61455 | SH |  | SOLE |  | 61455 | 0 | 0 |
| VIKING THERAPEUTICS INC | COM | 92686J106 |  | 2252500 | 85000 | SH |  | SOLE |  | 85000 | 0 | 0 |
| XENCOR INC | COM | 98401F105 |  | 1302795 | 165750 | SH |  | SOLE |  | 165750 | 0 | 0 |
| XENON PHARMACEUTICALS INC | COM | 98420N105 |  | 1095500 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |

---