Sarissa Capital Management LP
Long book
$157.6M
Q1 2026
Positions
9
Top-10 weight
100%
concentration
Last quarter
+17.6%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsSarissa Capital Management LP is a concentrated fundamental stock-picker, specialised in healthcare (92% of the long book), running a $157.6M US long book across 9 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: INNOVIVA INC, IRONWOOD PHARMACEUTICALS INC, AMARIN CORP PLC -ADR, NEUROCRINE BIOSCIENCES INC, CYTOKINETICS INC.
Over the last 9 quarters its long book ran on average 1.6pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-4.7%
Q2 2024
-6.0%
Q3 2024
-0.3%
Q4 2024
-16.4%
Q1 2025
-5.2%
Q2 2025
+12.4%
Q3 2025
+23.8%
Q4 2025
+4.8%
Q1 2026
+17.6%
Sector allocation
Healthcare 91%
Materials 9%
Long book by quarter
What does Sarissa Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| INVA INNOVIVA INC | Healthcare | 2.1M | $49.7M | 31.5% | -24.3% |
| IRWD IRONWOOD PHARMACEUTICALS INC | Healthcare | 9.2M | $32.3M | 20.5% | -42.3% |
| NBIX NEUROCRINE BIOSCIENCES INC | Healthcare | 116.5K | $15.4M | 9.7% | -61.6% |
| CYTK CYTOKINETICS INC | Healthcare | 228.6K | $15.1M | 9.6% | -42.3% |
| LNTH LANTHEUS HOLDINGS INC | Materials | 166.9K | $12.7M | 8.0% | -8.0% |
| BHVN BIOHAVEN LTD | Healthcare | 563.2K | $4.8M | 3.0% | +9.7% |
| REGN REGENERON PHARMACEUTICALS | Healthcare | 4.2K | $3.2M | 2.1% | Held |
| VOR VOR BIOPHARMA INC | Healthcare | 25.4K | $453K | 0.3% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 9 | $157.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 9 | $222.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 8 | $180.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 7 | $154.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 7 | $154.7M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 8 | $322.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 10 | $402.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 10 | $592.4M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 10 | $571.6M | canonical | SEC ↗ |