Sio Capital Management, LLC
Long book
$693.9M
Q1 2026
Positions
73
Top-10 weight
45%
concentration
Last quarter
+20.4%
SPY +14.8%
Turnover
41%
of book per quarter
Strategy in plain words
auto-generated from filingsSio Capital Management, LLC is a concentrated fundamental stock-picker, specialised in healthcare (80% of the long book), running a $693.9M US long book across 73 positions.
The portfolio is moderately concentrated (top 10 ≈ 45% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: MAXIMUS INC, WAYSTAR HOLDING CORP, ICON PLC, CENCORA INC, DIANTHUS THERAPEUTICS INC.
Over the last 9 quarters its long book ran on average 0.4pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-7.3%
Q2 2024
+10.4%
Q3 2024
-7.7%
Q4 2024
-15.6%
Q1 2025
-4.7%
Q2 2025
+28.7%
Q3 2025
+21.6%
Q4 2025
-1.5%
Q1 2026
+20.4%
Sector allocation
Healthcare 78%
Services media 10%
Technology 6%
Consumer discretionary 5%
Materials 1%
Other 0%
Long book by quarter
What does Sio Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MMS MAXIMUS INC | Services media | 768.8K | $49.3M | 7.1% | +53.7% |
| WAY WAYSTAR HOLDING CORP | Technology | 1.6M | $39.6M | 5.7% | +167.6% |
| ICLR ICON PLC | Healthcare | 306.4K | $33.9M | 4.9% | +140.8% |
| COR CENCORA INC | Consumer discretionary | 100.9K | $31.7M | 4.6% | +534.6% |
| DNTH DIANTHUS THERAPEUTICS INC | Healthcare | 370.0K | $31.1M | 4.5% | -22.0% |
| AVR ANTERIS TECHNOLOGIES GLOBAL | Healthcare | 5.4M | $29.9M | 4.3% | +187.1% |
| CORT CORCEPT THERAPEUTICS INC | Healthcare | 674.8K | $27.2M | 3.9% | New |
| LIVN LIVANOVA PLC | Healthcare | 421.6K | $26.8M | 3.9% | +30.8% |
| TYRA TYRA BIOSCIENCES INC | Healthcare | 605.4K | $23.2M | 3.3% | +15.1% |
| CELC CELCUITY INC | Healthcare | 193.8K | $22.1M | 3.2% | -59.4% |
| ANIP ANI PHARMACEUTICALS INC | Healthcare | 265.5K | $20.4M | 2.9% | +204.3% |
| ABT ABBOTT LABORATORIES | Healthcare | 186.6K | $19.2M | 2.8% | New |
| EMBC EMBECTA CORP | Healthcare | 1.8M | $16.3M | 2.4% | New |
| VIR VIR BIOTECHNOLOGY INC | Healthcare | 1.5M | $13.4M | 1.9% | +213.3% |
| HAE HAEMONETICS CORP/MASS | Healthcare | 220.7K | $12.4M | 1.8% | +138.2% |
| SION SIONNA THERAPEUTICS INC | Healthcare | 294.3K | $11.8M | 1.7% | New |
| RAPP RAPPORT THERAPEUTICS INC | Healthcare | 366.8K | $11.5M | 1.7% | +98.0% |
| TFX TELEFLEX INC | Healthcare | 94.8K | $11.3M | 1.6% | +9.1% |
| BMRN BIOMARIN PHARMACEUTICAL INC | Healthcare | 194.2K | $11.0M | 1.6% | -16.5% |
| CCRN CROSS COUNTRY HEALTHCARE INC | Services media | 1.1M | $10.3M | 1.5% | +2.8% |
| TARA PROTARA THERAPEUTIC INC | Healthcare | 2.0M | $10.3M | 1.5% | +14.8% |
| BHVN BIOHAVEN LTD | Healthcare | 1.2M | $9.8M | 1.4% | -6.5% |
| MNPR MONOPAR THERAPEUTICS INC | Healthcare | 173.5K | $9.5M | 1.4% | New |
| EYPT EYEPOINT INC | Healthcare | 721.8K | $9.3M | 1.3% | New |
| CRNX CRINETICS PHARMACEUTICALS IN | Healthcare | 249.9K | $9.1M | 1.3% | +100.2% |
| EWTX EDGEWISE THERAPEUTICS INC | Healthcare | 269.0K | $8.5M | 1.2% | +13.3% |
| OCUL OCULAR THERAPEUTIX INC | Healthcare | 968.6K | $8.2M | 1.2% | New |
| AQST AQUESTIVE THERAPEUTICS INC | Healthcare | 1.9M | $8.0M | 1.2% | +93.6% |
| RLMD RELMADA THERAPEUTICS INC | Healthcare | 965.0K | $6.7M | 1.0% | New |
| ORKA ORUKA THERAPEUTICS INC | Healthcare | 132.5K | $6.5M | 0.9% | +12.2% |
| ZBIO ZENAS BIOPHARMA INC | Healthcare | 331.7K | $6.5M | 0.9% | New |
| DRUG BRIGHT MINDS BIOSCIENCES INC | Healthcare | 86.1K | $6.3M | 0.9% | +5.1% |
| QDEL QUIDELORTHO CORP | Materials | 359.0K | $5.9M | 0.9% | New |
| ZBH ZIMMER BIOMET HOLDINGS INC | Healthcare | 62.6K | $5.7M | 0.8% | -83.8% |
| REPL REPLIMUNE GROUP INC | Healthcare | 720.0K | $5.5M | 0.8% | New |
| OGN ORGANON & CO | Healthcare | 865.9K | $5.2M | 0.7% | -74.7% |
| OKUR ONKURE THERAPEUTICS INC-A | Healthcare | 1.1M | $4.5M | 0.6% | New |
| IRON DISC MEDICINE INC | Healthcare | 65.2K | $4.2M | 0.6% | +13.2% |
| PMVP PMV PHARMACEUTICALS INC | Healthcare | 3.1M | $3.8M | 0.5% | +16.7% |
| IMNM IMMUNOME INC | Healthcare | 165.1K | $3.6M | 0.5% | New |
| IART INTEGRA LIFESCIENCES HOLDING | Healthcare | 383.1K | $3.6M | 0.5% | New |
| SVRA SAVARA INC | Healthcare | 613.9K | $3.4M | 0.5% | Held |
| PRQR PROQR THERAPEUTICS NV | Healthcare | 2.0M | $3.2M | 0.5% | -9.7% |
| SI SHOULDER INNOVATIONS INC | Healthcare | 210.6K | $3.1M | 0.4% | -7.6% |
| OVID OVID THERAPEUTICS INC | Healthcare | 1.3M | $2.8M | 0.4% | -12.3% |
| KYMR KYMERA THERAPEUTICS INC | Healthcare | 32.2K | $2.7M | 0.4% | Held |
| ALGS ALIGOS THERAPEUTICS INC | Healthcare | 327.2K | $2.4M | 0.4% | -2.6% |
| CNTX CONTEXT THERAPEUTICS INC | Healthcare | 917.9K | $2.4M | 0.3% | -31.6% |
| ANTX AN2 THERAPEUTICS INC | Healthcare | 657.2K | $2.2M | 0.3% | New |
| SER SERINA THERAPEUTICS INC. | Healthcare | 1.0M | $1.9M | 0.3% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 14, 2026 | 76 | $697.3M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 68 | $635.7M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 51 | $395.2M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 52 | $261.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 54 | $335.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 51 | $355.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 39 | $252.2M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 48 | $369.5M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 51 | $335.8M | canonical | SEC ↗ |