FCPM III SERVICES B.V.
Long book
$722.2M
Q1 2026
Positions
10
Top-10 weight
100%
concentration
Last quarter
+10.8%
SPY +14.8%
Turnover
18%
of book per quarter
Strategy in plain words
auto-generated from filingsFCPM III SERVICES B.V. is a concentrated fundamental stock-picker, specialised in healthcare (100% of the long book), running a $722.2M US long book across 10 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: NEWAMSTERDAM PHARMA CO NV, DYNE THERAPEUTICS INC, VOR BIOPHARMA INC, enGene Therapeutics Inc, MAPLIGHT THERAPEUTICS INC.
Over the last 9 quarters its long book ran on average 2.2pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-9.4%
Q2 2024
-5.5%
Q3 2024
+3.4%
Q4 2024
-31.4%
Q1 2025
-11.8%
Q2 2025
+41.6%
Q3 2025
+27.7%
Q4 2025
-5.2%
Q1 2026
+10.8%
Sector allocation
Healthcare 100%
Long book by quarter
What does FCPM III own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NAMS NEWAMSTERDAM PHARMA CO NV | Healthcare | 9.2M | $294.5M | 40.8% | Held |
| DYN DYNE THERAPEUTICS INC | Healthcare | 4.6M | $84.2M | 11.7% | -15.0% |
| VOR VOR BIOPHARMA INC | Healthcare | 4.1M | $73.5M | 10.2% | +13.8% |
| ENGN enGene Therapeutics Inc | Healthcare | 9.6M | $65.6M | 9.1% | Held |
| MPLT MAPLIGHT THERAPEUTICS INC | Healthcare | 3.2M | $65.6M | 9.1% | Held |
| DMRA DAMORA THERAPEUTICS INC | Healthcare | 2.4M | $63.2M | 8.8% | New |
| CBIO CRESCENT BIOPHARMA INC | Healthcare | 1.7M | $30.8M | 4.3% | Held |
| REPL REPLIMUNE GROUP INC | Healthcare | 2.8M | $21.5M | 3.0% | Held |
| ENGN enGene Therapeutics Inc | Healthcare | 2.9M | $7.3M | 1.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 14 | $722.2M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 14 | $762.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 13 | $500.4M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 12 | $369.2M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 12 | $413.7M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 12 | $592.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 11 | $582.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 8, 2024 | 11 | $678.1M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 3, 2024 | 10 | $707.3M | canonical | SEC ↗ |