Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
RTW Biotech Opportunities returned 18.1% in Q2 2026, capitalizing on improved biotech sentiment driven by FDA leadership changes, strong M&A including AbbVie's $10.9 billion acquisition of portfolio company Apogee, and positive late-stage oncology data at ASCO. The fund maintains a concentrated portfolio of 48 positions focused on transformative therapeutics across oncology, immunology, and rare diseases, with new investments in gene therapy and protein degradation platforms.
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RTW Biotech Opportunities returned 18.1% in Q2 2026, capitalizing on improved biotech sentiment driven by FDA leadership changes, strong M&A including AbbVie's $10.9 billion acquisition of portfolio company Apogee, and positive late-stage oncology data at ASCO. The fund maintains a concentrated portfolio of 48 positions focused on transformative therapeutics across oncology, immunology, and rare diseases, with new investments in gene therapy and protein degradation platforms.
RTW Bio outperformed biotech indices despite -6.4% Q1 return as sector valuations hit new lows. Portfolio concentrated in high unmet need rare diseases and oncology with strong FDA support. Manager sees significant deployment opportunity amid unwarranted valuations, supported by M&A-friendly regulatory environment and improving commercial dynamics. Well-positioned for recovery with 53% exposure in Phase 3 trials.
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RTW Bio outperformed biotech indices despite -6.4% Q1 return as sector valuations hit new lows. Portfolio concentrated in high unmet need rare diseases and oncology with strong FDA support. Manager sees significant deployment opportunity amid unwarranted valuations, supported by M&A-friendly regulatory environment and improving commercial dynamics. Well-positioned for recovery with 53% exposure in Phase 3 trials.
RTW Biotech delivered -4.6% in 2024 but achieved 86% five-year returns, outperforming biotech indices. The fund focuses on transformative life sciences assets with 54 core positions spanning genetic medicines, obesity treatments, and rare diseases. Despite sector headwinds from rates and regulatory uncertainty, management sees early signs of recovery with record FDA approvals and attractive valuations.
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RTW Biotech delivered -4.6% in 2024 but achieved 86% five-year returns, outperforming biotech indices. The fund focuses on transformative life sciences assets with 54 core positions spanning genetic medicines, obesity treatments, and rare diseases. Despite sector headwinds from rates and regulatory uncertainty, management sees early signs of recovery with record FDA approvals and attractive valuations.
Loomis Sayles Global Growth Fund outperformed in Q2 with a concentrated portfolio of quality growth companies trading below intrinsic value. Strong performance from Alphabet's AI and cloud growth, Alnylam's gene therapy progress, and Tencent's gaming recovery offset weakness in Adyen and Shopify. The fund maintains a 42% portfolio discount to intrinsic value.
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Loomis Sayles Global Growth Fund outperformed in Q2 with a concentrated portfolio of quality growth companies trading below intrinsic value. Strong performance from Alphabet's AI and cloud growth, Alnylam's gene therapy progress, and Tencent's gaming recovery offset weakness in Adyen and Shopify. The fund maintains a 42% portfolio discount to intrinsic value.
