IMVT

IMVT

IMVT

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2025 Q3	Sep 30, 2025	Baron Health Care Fund	5.4%	-2.7%	ABBV, ACLX, ARGX, AZN, BSX, CDTX, COO, HRTX, IMVT, INSM, IONS, ISRG, JNJ, LLY, MASI, PFE, RDNT, ROIV, SYK, TMO, UNH, WAT, XENE	AI, Biotechnology, GLP1, growth, healthcare, Medical Devices, Pharmaceuticals	Strong stock selection in biotechnology contributed the vast majority of relative gains, with main drivers being argenx SE and Insmed Incorporated. The third quarter saw several positive biotechnology clinical data readouts, a strong rebound in biotechnology funding, and an acceleration in M&A activity.		View
2025 Q2	Aug 14, 2025	FPA Source Capital	6.7%	-	ABBV, ABT, ACLX, ARGX, AZN, BSX, CDTX, COO, HRTX, IMVT, INSM, IONS, ISRG, JNJ, LLY, MASI, MDT, PFE, RDNT, ROIV, SYK, TMO, UNH, WAT, XEN.TO	AI, Biotechnology, GLP1, healthcare, Managed Care, Medical Devices, Pharmaceuticals	Strong stock selection in biotechnology contributed the vast majority of relative gains, with main drivers being argenx SE and Insmed Incorporated. The quarter saw several positive biotechnology clinical data readouts, a strong rebound in biotechnology funding, and an acceleration in M&A activity.		View
2024 Q2	Aug 1, 2024	Tourlite Capital Management	4.5%	13.8%	FIP, FTAI, IMVT, LTCH, OABI, PRPL, REAL, RICK	aerospace, Biotechnology, consumer, industrials, infrastructure, Long/Short, small caps, special situations	FTAI Aviation benefits from aerospace market tailwinds with ongoing OEM shortfalls resulting in higher lease rates and extensions. The company announced V2500 as its second focus engine with EBITDA expected to grow from $40 million to $100 million by 2026. Multiple catalysts remain for the remainder of the year including potential PMA parts approvals.	PRPL RICK OABI LTCH FIP FTAI	View
2024 Q1	May 9, 2024	Greenlight Capital	1.1%	9.0%	BHF, CEIX, FHN, GRBK, HPQ, IMVT, KD, LBTYA, NYCB, PENN, ROIV, SOLB.BR, TECK, THC, VTSC.DE	AI, Copper, Long/Short, Macro, market structure, Passive investing, undervaluation, value	Greenlight established a position in HP Inc. to benefit from a potential AI-driven PC adoption cycle. Intel plans to release neural processing units this summer, and Microsoft is teasing AI features requiring NPUs. The firm believes AI optimism is not reflected in HPQ's share price.	LBTYA ROIV HPQ PENN SOLB.BR	View
2025 Q1	May 23, 2025	Tourlite Capital Management	-4.6%	-4.6%	ABUS, COST, FIP, FTAI, GRAL, IMVT, NFE, OABI, ROIV, SOC, WMT	Biotech, consumer, energy, Event Driven, industrials, infrastructure, Long/Short, tariffs	The fund continues to see meaningful mispricing across select biotech companies, highlighting positions in Roivant, Arbutus, Immunovant, OmniAb, and Grail. Despite short-term volatility from macro headlines and policy developments, these companies trade at substantial discounts to intrinsic value, offering significant upside with a margin of safety over the long term.	FTAI FIP SOC	View
2024 Q1	Apr 30, 2024	Penn Davis McFarland	-	-	IMVT, MRNA, PFE, ROIV	Biotechnology, Fed policy, inflation, M&A, monetary policy, Risk Appetite	The fund initiated a new position in Roivant, a biotech holding company that acquires orphaned drug candidates from big pharma and develops them through focused subsidiaries. The strategy has proven successful with recent asset sales like Televant to Roche for $7.1 billion. Immunovant represents the most valuable remaining subsidiary with potential for sale in the current heated biotech M&A environment.	ROIV	View
2025 Q1	Mar 31, 2025	EQUAM Global Value Fund	-1.2%	-1.2%	ABBV, ACLX, ARGX, AZN, BSX, CDTX, COO, HRTX, IMVT, INSM, IONS, ISRG, JNJ, LLY, MASI, PFE, RDNT, ROIV, SYK, TMO, UNH, WAT, XENE	AI, Biotechnology, GLP1, healthcare, M&A, Medical Devices, Pharmaceuticals	Strong stock selection in biotechnology contributed the vast majority of relative gains, with main drivers being argenx SE and Insmed Incorporated. The quarter saw several positive biotechnology clinical data readouts, a strong rebound in biotechnology funding, and an acceleration in M&A activity.	ACAD SS BFSA GR STM GR CIE SM BME LN	View
2024 Q4	Feb 18, 2025	Tourlite Capital Management	0.4%	14.2%	FIP, FTAI, IMVT, LTCH, REAL, ROIV, SOC	aerospace, Biotechnology, consumer, energy, industrials, Long/Short, small cap, technology	FTAI Aviation emerged as a top performer with over 200% share price increase driven by aerospace aftermarket tailwinds and growing PMA parts business market share. The company announced FAA approval for its second PMA engine part and launched a Strategic Capital Initiative to acquire mid-life aircraft, tapping into a $30 billion market opportunity. Management projects this initiative will generate approximately $200 million in incremental annual aerospace EBITDA by 2026.	ROIV SOC LTCH FIP REAL FTAI	View
2023 Q4	Jan 26, 2024	Tourlite Capital Management	4.5%	13.8%	APG, ESPR, FC, FIP, FTAI, IMVT, KD, LTCH, PRM, PRVB, ROIV, SAN.PA	Aviation, Biotechnology, Event Driven, Long/Short, small caps, special situations	Fund initiated significant position in Roivant Sciences, a biotech company specializing in consolidating promising drug patents. Thesis based on cash value from asset sales, Immunovant stake, and pipeline upside potential. Also held Provention Bio which was acquired by Sanofi following FDA approval.	AFCG ROIV LTCH BKD FIP ESPR APG FTAI	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
No pitches found.

BSD Shareholders of IMVT

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

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