Redmile Group, LLC
Long book
$1.51B
Q1 2026
Positions
35
Top-10 weight
82%
concentration
Last quarter
+23.4%
SPY +14.8%
Turnover
23%
of book per quarter
Strategy in plain words
auto-generated from filingsRedmile Group, LLC is a concentrated fundamental stock-picker, specialised in healthcare (100% of the long book), running a $1.51B US long book across 35 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: SCHOLAR ROCK HOLDING CORP, KRYSTAL BIOTECH INC, STOKE THERAPEUTICS INC, IMMUNOME INC, NURIX THERAPEUTICS INC.
Over the last 9 quarters its long book ran on average 0.9pp 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
-22.0%
Q2 2024
+6.2%
Q3 2024
-4.9%
Q4 2024
-25.1%
Q1 2025
+9.6%
Q2 2025
+23.3%
Q3 2025
+38.7%
Q4 2025
-1.0%
Q1 2026
+23.4%
Sector allocation
Healthcare 99%
Materials 1%
Long book by quarter
What does Redmile Group, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| SRRK SCHOLAR ROCK HOLDING CORP | Healthcare | 9.1M | $445.7M | 29.5% | +73.7% |
| KRYS KRYSTAL BIOTECH INC | Healthcare | 673.5K | $174.0M | 11.5% | -0.6% |
| STOK STOKE THERAPEUTICS INC | Healthcare | 4.2M | $135.6M | 9.0% | +3.2% |
| IMNM IMMUNOME INC | Healthcare | 5.6M | $121.6M | 8.1% | -2.8% |
| NRIX NURIX THERAPEUTICS INC | Healthcare | 7.7M | $119.9M | 7.9% | -4.5% |
| ANNX ANNEXON INC | Healthcare | 14.5M | $80.6M | 5.3% | +44.8% |
| ADCT ADC THERAPEUTICS SA | Healthcare | 15.5M | $58.0M | 3.8% | -1.3% |
| RGNX REGENXBIO INC | Healthcare | 4.4M | $36.6M | 2.4% | Held |
| STTK SHATTUCK LABS INC | Healthcare | 5.5M | $35.6M | 2.4% | Held |
| BEAM BEAM THERAPEUTICS INC | Healthcare | 1.2M | $29.5M | 2.0% | -3.7% |
| NGNE NEUROGENE INC | Healthcare | 1.5M | $29.4M | 1.9% | Held |
| COGT COGENT BIOSCIENCES INC | Healthcare | 688.0K | $26.5M | 1.8% | -52.2% |
| ABSI ABSCI CORP | Healthcare | 8.3M | $24.8M | 1.6% | Held |
| IDYA IDEAYA BIOSCIENCES INC | Healthcare | 521.1K | $17.4M | 1.1% | -29.8% |
| ALXO ALX ONCOLOGY HOLDINGS INC | Healthcare | 8.0M | $16.0M | 1.1% | +143.9% |
| FATE FATE THERAPEUTICS INC | Healthcare | 12.9M | $15.4M | 1.0% | Held |
| XENE XENON PHARMACEUTICALS INC | Healthcare | 262.7K | $15.3M | 1.0% | +96.2% |
| SLDB SOLID BIOSCIENCES INC | Healthcare | 2.0M | $14.5M | 1.0% | +8.1% |
| NUVB NUVATION BIO INC | Healthcare | 3.2M | $13.5M | 0.9% | -0.3% |
| ZYME ZYMEWORKS INC | Healthcare | 491.7K | $12.3M | 0.8% | Held |
| BMRN BIOMARIN PHARMACEUTICAL INC | Healthcare | 173.9K | $9.8M | 0.7% | New |
| CLDX CELLDEX THERAPEUTICS INC | Materials | 261.5K | $8.3M | 0.5% | -7.7% |
| CBLL CERIBELL INC | Healthcare | 386.8K | $7.1M | 0.5% | -11.1% |
| LIVN LIVANOVA PLC | Healthcare | 108.4K | $6.9M | 0.5% | -8.2% |
| ESTA ESTABLISHMENT LABS HOLDINGS | Healthcare | 103.5K | $5.9M | 0.4% | -8.2% |
| PRME PRIME MEDICINE INC | Healthcare | 1.6M | $5.5M | 0.4% | New |
| ORIC ORIC PHARMACEUTICALS INC | Healthcare | 415.7K | $5.3M | 0.3% | -7.2% |
| EPRX EUPRAXIA PHARMACEUTICALS INC | Healthcare | 700.0K | $5.1M | 0.3% | New |
| ARDX ARDELYX INC | Healthcare | 733.4K | $4.4M | 0.3% | New |
| IVVD INVIVYD INC | Healthcare | 2.6M | $3.4M | 0.2% | -1.2% |
| ATRA ATARA BIOTHERAPEUTICS INC | Healthcare | 441.7K | $2.1M | 0.1% | Held |
| PLRX PLIANT THERAPEUTICS INC | Healthcare | 772.1K | $973K | 0.1% | -52.2% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 35 | $1.51B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 34 | $1.36B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 40 | $1.03B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 48 | $939.6M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 56 | $1.06B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 62 | $1.43B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 63 | $1.70B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 63 | $1.65B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 77 | $2.72B | canonical | SEC ↗ |