RED TREE MANAGEMENT, LLC
Long book
$111.8M
Q1 2026
Positions
3
Top-10 weight
100%
concentration
Last quarter
+29.4%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsRED TREE MANAGEMENT, LLC is a diversified fundamental manager, specialised in healthcare (100% of the long book), running a $111.8M US long book across 3 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: BICARA THERAPEUTICS INC, CERIBELL INC, CONTINEUM THERAPEUTICS INC-A.
Over the last 6 quarters its long book ran on average 0.7pp per quarter ahead of the S&P 500, beating the index in 4 of 6 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q4 2024
-27.6%
Q1 2025
-16.8%
Q2 2025
+13.1%
Q3 2025
+31.5%
Q4 2025
+2.6%
Q1 2026
+29.4%
Sector allocation
Healthcare 100%
Long book by quarter
What does RED own?
Q1 2026 13F13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 22, 2026 | 3 | $111.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 3 | $109.0M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 7, 2025 | 3 | $82.9M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 22, 2025 | 3 | $73.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 4 | $92.6M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 4 | $152.0M | canonical | SEC ↗ |