Endurant Capital Management LP's Q4 2022 13F Holdings Analysis: Increased Confidence in Healthcare Sector with Significant Increase in Holdings of CI, LH, and AZN, While Decreasing BMRN Holdings and Adding MRK to Portfolio.

Endurant Capital Management LP is a hedge fund that focuses on investing in the healthcare sector. As of the end of Q3 2022, the fund had over $1.3 billion in assets under management. In this blog post, we will analyze the changes in holdings between Q3 2022 and Q4 2022 as reported in the 13F filings.

Firstly, it is important to note that the CSV contains 37 positions, but we will highlight some of the most significant changes. One of the most notable changes is the increase in holdings of LABORATORY CORP AMER HLDGS (LH). Endurant Capital Management LP had 97,245 shares of LH in Q3 2022, which increased to 90,924 shares in Q4 2022. This represents a 7.5% increase in shares held. The value of these shares also increased from $19.9 million to $21.4 million. The reason for this increase in holdings is unclear, but it could indicate the fund's confidence in the prospects of the healthcare testing company.

Another major change in holdings is the increase in holdings of CIGNA CORP NEW (CI). Endurant Capital Management LP had 34,099 shares of CI in Q3 2022, but this increased to 49,678 shares in Q4 2022, representing a 74% increase in shares held. The value of these shares also increased from $9.5 million to $16.5 million. CI is a leading health services organization, and the fund's increased holdings could indicate its positive outlook on the healthcare insurance sector.

Similarly, the fund significantly increased its holdings in ASTRAZENECA PLC (AZN) from 101,048 shares in Q3 2022 to 141,420 shares in Q4 2022, representing a 39.9% increase in shares held. The value of these shares also increased from $5.5 million to $9.6 million. AZN is a global biopharmaceutical company that specializes in the development of innovative cancer treatments, and Endurant Capital Management LP's increased holdings could indicate its confidence in the company's future growth prospects.

In addition to the above, the fund significantly decreased its holdings in BIOMARIN PHARMACEUTICAL INC (BMRN). The fund held 145,374 shares of BMRN in Q3 2022, but this decreased to 84,357 shares in Q4 2022, representing a significant 29.2% decrease in shares held. The value of these shares also decreased from $12.3 million to $8.7 million. This decrease in holdings could indicate that the fund has lost confidence in the company's future growth prospects, or that it has identified better investment opportunities elsewhere.

Another interesting change is in MERCK & CO INC (MRK). In Q3 2022, the fund did not hold any shares of MRK, but in Q4 2022, it held 126,003 shares. This represents a significant addition of the company's stock by the fund. The value of these shares was $13.9 million. Merck is a leading pharmaceutical company that specializes in research and development of medicines, and the addition of MRK to the fund's portfolio could indicate the fund's interest in investing in the pharmaceutical industry.

Overall, the changes in holdings reported by Endurant Capital Management LP in Q3 2022 and Q4 2022 reveal the fund's strategy of investing heavily in the healthcare sector. The fund increased its holdings in several leading companies, indicating its confidence in their growth prospects. However, it also decreased its holdings in one company, suggesting that it is actively managing its portfolio to optimize returns. These changes in holdings provide insights into the fund's investment strategy and present investment opportunities for other investors in the healthcare sector.