JOHNSON & JOHNSON
Long book
$652.4M
Q1 2026
Positions
16
Top-10 weight
99%
concentration
Last quarter
+24.6%
SPY +14.8%
Turnover
17%
of book per quarter
Strategy in plain words
auto-generated from filingsJOHNSON & JOHNSON is a concentrated fundamental stock-picker, specialised in healthcare (100% of the long book), running a $652.4M US long book across 16 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: PROTAGONIST THERAPEUTICS INC, NANOBIOTIX SA - ADR, MEIRAGTX HOLDINGS PLC, RAPPORT THERAPEUTICS INC, CVRX INC.
Over the last 9 quarters its long book ran on average 4.7pp per quarter ahead of the S&P 500, beating the index in 5 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
-14.7%
Q2 2024
+7.3%
Q3 2024
-9.6%
Q4 2024
-11.3%
Q1 2025
-1.7%
Q2 2025
+56.2%
Q3 2025
+13.4%
Q4 2025
+18.0%
Q1 2026
+24.6%
Sector allocation
Healthcare 100%
Long book by quarter
What does JOHNSON & own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| PTGX PROTAGONIST THERAPEUTICS INC | Healthcare | 2.4M | $258.1M | 39.6% | Held |
| MGTX MEIRAGTX HOLDINGS PLC | Healthcare | 6.6M | $57.5M | 8.8% | Held |
| RAPP RAPPORT THERAPEUTICS INC | Healthcare | 1.8M | $55.8M | 8.6% | Held |
| CVRX CVRX INC | Healthcare | 4.0M | $38.1M | 5.8% | Held |
| CTNM CONTINEUM THERAPEUTICS INC-A | Healthcare | 2.0M | $25.8M | 4.0% | Held |
| XNCR XENCOR INC | Healthcare | 748.1K | $9.0M | 1.4% | Held |
| PRCT PROCEPT BIOROBOTICS CORP | Healthcare | 357.9K | $9.0M | 1.4% | Held |
| FATE FATE THERAPEUTICS INC | Healthcare | 3.4M | $4.1M | 0.6% | Held |
| NMRA NEUMORA THERAPEUTICS INC | Healthcare | 1.8M | $3.6M | 0.6% | Held |
| RLYB RALLYBIO CORP | Healthcare | 152.9K | $1.4M | 0.2% | New |
| VOR VOR BIOPHARMA INC | Healthcare | 53.7K | $959K | 0.1% | Held |
| LAB STANDARD BIOTOOLS INC | Healthcare | 312.0K | $287K | 0.0% | Held |
| NNOX NANO-X IMAGING LTD | Healthcare | 83.6K | $190K | 0.0% | -47.4% |
| ACET ADICET BIO INC | Healthcare | 22.8K | $155K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 16 | $652.4M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR/ARESTATEMENT | Mar 18, 2026 | 17 | $555.0M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 17 | $554.6M | SEC ↗ | |
| Q3 2025 | 13F-HR/ARESTATEMENT | Mar 18, 2026 | 20 | $503.9M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 20 | $503.7M | SEC ↗ | |
| Q2 2025 | 13F-HR | Jul 22, 2025 | 20 | $334.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 7, 2025 | 20 | $341.9M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 20 | $386.1M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 20 | $427.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 20 | $400.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 22 | $4.41B | canonical | SEC ↗ |