1y return+130.7%S&P 500 +20.9%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2024: $208 against $127 in the S&P 500.2
Merck & Co., Inc.S&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| PSNLPersonalis Inc | $188.2M | 35.8% | |
| MRNAModerna Inc | $161.6M | 30.7% | |
| KYMRKymera Therapeutics Inc | $88.5M | 16.8% | |
| AKTSAktis Oncology Inc | $30.7M | 5.8% | |
| EIKNEikon Therapeutics Inc | $21.7M | 4.1% | |
| TRDAEntrada Therapeutics Inc | $12.8M | 2.4% | New |
| STROSutro Biopharma Inc | $9.0M | 1.7% | New |
| ALECAlector Inc | $7.1M | 1.4% | |
| EVAXEvaxion Biotech A/s | $3.8M | 0.7% | New |
| VRDNViridian Therapeutics Inc | $1.7M | 0.3% | |
| XLOXilio Therapeutics Inc | $1.0M | 0.2% | |
| HURATuhura Biosciences Inc | $46K | 0.0% | |
| NEUPNeuphoria Therapeutics Inc | $44K | 0.0% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| KYMRKymera Therapeutics Inc | December 31, 2024 | +185.0% | $88.5M |
| PSNLPersonalis Inc | December 31, 2024 | +131.8% | $188.2M |
| AKTSAktis Oncology Inc | March 31, 2026 | +80.2% | $30.7M |
| MRNAModerna Inc | December 31, 2024 | +68.4% | $161.6M |
| EIKNEikon Therapeutics Inc | March 31, 2026 | +23.3% | $21.7M |
| XLOXilio Therapeutics Inc | March 31, 2026 | +13.9% | $1.0M |
| ALECAlector Inc | December 31, 2024 | +6.3% | $7.1M |
| VRDNViridian Therapeutics Inc | December 31, 2024 | −4.2% | $1.7M |
Sold off last quarter
- Entrada Therapeutics IncCUSIP 29384C908 was $22.0M
- Sutro Biopharma IncCUSIP 869367102 was $6.8M
- Evaxion Biotech A/sCUSIP 29970R204 was $4.5M
- CARMCarisma Therapeutics Inc was $48K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +57.9% | +14.8% |
| March 31, 2026 | +14.2% | −4.6% |
| December 31, 2025 | +19.6% | +2.4% |
| September 30, 2025 | +6.9% | +7.8% |
| June 30, 2025 | +37.4% | +10.5% |
| March 31, 2025 | −34.4% | −4.6% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Merck & Co., Inc. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=310158&type=13F-HR&dateb=&owner=include&count=40CIK 310158
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/310158/000031015826000210/Filed August 7, 2026 · accession 0000310158-26-000210