1y return+52.9%S&P 500 +20.9%
3y return+113.4%S&P 500 +68.5%
5y return+90.5%S&P 500 +74.5%
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, 2020: $203 against $200 in the S&P 500.2
Tri Locum Partners LPS&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 |
|---|---|---|---|
| JNJJohnson & Johnson | $107.9M | 13.3% | +2.5% |
| VRTXVertex Pharmaceuticals Inc | $100.2M | 12.3% | +56.0% |
| LLYEli Lilly & Co | $91.8M | 11.3% | +23.8% |
| Ascendis Pharma A/sCUSIP K08588103 | $69.0M | 8.5% | New |
| DXCMDexcom Inc | $55.3M | 6.8% | +17.5% |
| AXSMAxsome Therapeutics Inc. | $53.7M | 6.6% | +253.1% |
| Jazz Pharmaceuticals PLCCUSIP G50871105 | $53.4M | 6.6% | +39.7% |
| ELVNEnliven Therapeutics Inc | $44.0M | 5.4% | New |
| ARGXArgenx Se | $38.6M | 4.7% | +31.5% |
| MDGLMadrigal Pharmaceuticals Inc | $36.7M | 4.5% | −33.9% |
| RVMDRevolution Medicines Inc | $28.4M | 3.5% | New |
| UTHRUnited Therapeutics Corp Del | $25.5M | 3.1% | −33.2% |
| Teva Pharmaceutical Inds LtdCUSIP 881624209 | $25.3M | 3.1% | −26.9% |
| TARSTarsus Pharmaceuticals Inc | $20.7M | 2.5% | +30.0% |
| ISRGIntuitive Surgical Inc | $19.1M | 2.3% | −68.7% |
| CYTKCytokinetics Inc | $16.5M | 2.0% | New |
| DNTHDianthus Therapeutics Inc | $11.8M | 1.4% | −17.1% |
| BBNXBeta Bionics Inc | $7.7M | 1.0% | New |
| DFTXDefinium Therapeutics Inc | $7.7M | 0.9% | −55.9% |
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 |
|---|---|---|---|
| AXSMAxsome Therapeutics Inc. | December 31, 2022 | +217.3% | $53.7M |
| DFTXDefinium Therapeutics Inc | March 31, 2026 | +148.9% | $7.7M |
| DNTHDianthus Therapeutics Inc | September 30, 2025 | +147.7% | $11.8M |
| ARGXArgenx Se | September 30, 2023 | +88.7% | $38.6M |
| MDGLMadrigal Pharmaceuticals Inc | December 31, 2022 | +85.0% | $36.7M |
| JNJJohnson & Johnson | September 30, 2025 | +37.0% | $107.9M |
| UTHRUnited Therapeutics Corp Del | September 30, 2025 | +29.3% | $25.5M |
| Jazz Pharmaceuticals PLCCUSIP G50871105 | March 31, 2026 | +27.5% | $53.4M |
| LLYEli Lilly & Co | December 31, 2025 | +11.6% | $91.8M |
| VRTXVertex Pharmaceuticals Inc | March 31, 2026 | +11.2% | $100.2M |
Sold off last quarter
- TMOThermo Fisher Scientific Inc was $65.1M
- Ascendis Pharma A/sCUSIP 04351P101 was $58.4M
- Nuvalent IncCUSIP 670703107 was $31.6M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +9.8% | +14.8% |
| March 31, 2026 | +0.1% | −4.6% |
| December 31, 2025 | +19.4% | +2.4% |
| September 30, 2025 | +16.5% | +7.8% |
| June 30, 2025 | +4.8% | +10.5% |
| March 31, 2025 | −5.6% | −4.6% |
| December 31, 2024 | +2.7% | +2.1% |
| September 30, 2024 | +9.7% | +5.4% |
| June 30, 2024 | +1.3% | +4.0% |
| March 31, 2024 | +17.9% | +10.0% |
| December 31, 2023 | +11.7% | +11.2% |
| September 30, 2023 | −6.2% | −3.6% |
| June 30, 2023 | +3.7% | +8.3% |
| March 31, 2023 | +4.7% | +7.0% |
| December 31, 2022 | +2.4% | +7.1% |
| September 30, 2022 | +8.8% | −5.3% |
| June 30, 2022 | −17.4% | −16.5% |
| March 31, 2022 | −10.5% | −4.9% |
| December 31, 2021 | +2.0% | +10.7% |
| September 30, 2021 | −2.2% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Tri Locum Partners LP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1826434&type=13F-HR&dateb=&owner=include&count=40CIK 1826434
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1826434/000182643426000005/Filed August 14, 2026 · accession 0001826434-26-000005