REGENERON PHARMACEUTICALS, INC.

Fundamental diversified ★Signal materials specialist (99%) CIK 872589
Long book
$47.9M
Q1 2026
Positions
2
Top-10 weight
100%
concentration
Last quarter
+36.9%
SPY +14.8%
Turnover
0%
of book per quarter

Strategy in plain words

auto-generated from filings

REGENERON PHARMACEUTICALS, INC. is a diversified fundamental manager, specialised in materials (99% of the long book), running a $47.9M US long book across 2 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: INTELLIA THERAPEUTICS INC, ADICET BIO INC.

Over the last 6 quarters its long book ran on average 18.2pp per quarter ahead of the S&P 500, beating the index in 5 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
+12.6%
Q1 2025
+21.0%
Q2 2025
+40.9%
Q3 2025
-16.0%
Q4 2025
+41.7%
Q1 2026
+36.9%

Sector allocation

Materials
99%
Healthcare
1%

Long book by quarter

$1.09B
Q4 2024
$1.23B
Q1 2025
$1.49B
Q2 2025
$700.4M
Q3 2025
$33.8M
Q4 2025
$47.9M
Q1 2026

What does REGENERON PHARMACEUTICALS, own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
NTLA INTELLIA THERAPEUTICS INCMaterials3.7M$47.5M99.1%Held
ACET ADICET BIO INCHealthcare60.5K$412K0.9%Held

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 8, 20262$47.9M canonicalSEC ↗
Q4 202513F-HRFeb 6, 20262$33.8M canonicalSEC ↗
Q3 202513F-HRNov 7, 20254$700.4M canonicalSEC ↗
Q2 202513F-HRAug 1, 20254$1.49B canonicalSEC ↗
Q1 202513F-HRMay 2, 20256$1.23B canonicalSEC ↗
Q4 202413F-HRFeb 7, 20256$1.09B canonicalSEC ↗