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B

Braidwell Portfolio holdings

AUM $2.7B Turnover 43.12%
1-Year Est. Return 88.53%
This Fund
S&P 500
This Quarter Est. Return
+4.56%
1 Year Est. Return
+88.53%
3 Year Est. Return
+96.53%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.72B
AUM Growth
-$442M
Cap. Flow
-$1.85B
Cap. Flow %
-67.9%
Top 10 Hldgs %
40.29%
Holding
91
New
5
Increased
13
Reduced
23
Closed
19
Avg Time Held
0.7 years
Top 10 Avg Time Held
0.6 years
Top 20 Avg Time Held
0.5 years

Top Buys

Rank Stock Value
1
ARGX icon
argenx
ARGX
+$71.4M
2
PEN icon
Penumbra
PEN
+$28.2M
3
TRML icon
Tourmaline Bio
TRML
+$18.1M
4
GPCR icon
Structure Therapeutics
GPCR
+$16.1M
5
LNTH icon
Lantheus
LNTH
+$14M

Top Sells

Rank Stock Value
1
BSX icon
Boston Scientific
BSX
+$61.5M
2
NTRA icon
Natera
NTRA
+$44.8M
3
MRUS icon
Merus
MRUS
+$35.7M
4
ISRG icon
Intuitive Surgical
ISRG
+$33.6M
5
GKOS icon
Glaukos
GKOS
+$30.9M

Sector Composition

Rank Sector Weight
1 Miscellaneous 51.4%
2 Healthcare 48.6%
3 Consumer Staples 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
DCPH icon
26
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
$18.9M 0.69%
1,169,490
-2,166,731
-65% -$27.6M
2022 Q4
4 quarters
RGEN icon
27
Repligen
RGEN
$11.3B
$18.5M 0.68%
102,698
-15,702
-13% -$2.44M
2023 Q2
2 quarters
MLYS icon
28
Mineralys Therapeutics
MLYS
$1.84B
$17.4M 0.64%
2,023,900
– –
2023 Q1
3 quarters
HROW icon
29
Harrow
HROW
$1.02B
$16.8M 0.62%
1,498,584
-310,100
-17% -$3.67M
2023 Q1
3 quarters
AMGN icon
30
Amgen
AMGN
$230B
$16.8M 0.62%
58,200
+22,000
+61% +$5.99M
2023 Q3
1 quarter
TERN icon
31
DELISTED
Terns Pharmaceuticals
TERN
$15M 0.55%
2,318,050
-522,002
-18% -$2.76M
2023 Q1
3 quarters
THRD icon
32
DELISTED
Third Harmonic Bio
THRD
$14.4M 0.53%
1,316,018
-337,973
-20% -$2.68M
2023 Q3
1 quarter
OM icon
33
Outset Medical
OM
$72.2M
$13M 0.48%
160,028
– –
2022 Q4
4 quarters
CGEM icon
34
Cullinan Oncology
CGEM
$878M
$12.6M 0.46%
1,240,865
-668,000
-35% -$5.92M
2023 Q2
2 quarters
GPCR icon
35
Structure Therapeutics
GPCR
$1.56B
$11.4M 0.42%
+280,158
New +$16.1M
2023 Q4
0 quarters
SYRE icon
36
Spyre Therapeutics
SYRE
$7.35B
$11.1M 0.41%
+515,000
New +$7.09M
2023 Q4
0 quarters
MRUS icon
37
DELISTED
Merus
MRUS
$10.2M 0.37%
370,679
-1,530,658
-81% -$35.7M
2022 Q4
4 quarters
DYN icon
38
Dyne Therapeutics
DYN
$2.81B
$10.1M 0.37%
755,811
-1,066,161
-59% -$10.4M
2022 Q4
4 quarters
LUNG icon
39
Pulmonx
LUNG
$76.4M
$10M 0.37%
787,954
-200,605
-20% -$2.09M
2022 Q4
4 quarters
DNLI icon
40
Denali Therapeutics
DNLI
$2.86B
$9.91M 0.36%
+461,769
New +$9.15M
2023 Q4
0 quarters
RAPT icon
41
DELISTED
RAPT Therapeutics
RAPT
$9.67M 0.36%
48,663
-86,651
-64% -$10.7M
2023 Q2
2 quarters
TMDX icon
42
Transmedics
TMDX
$2.62B
$9.29M 0.34%
117,701
-189,499
-62% -$11.4M
2023 Q3
1 quarter
DBVT icon
43
DBV Technologies S.A. American Depositary Shares
DBVT
$557M
$7.47M 0.27%
784,329
-426,450
-35% -$4.13M
2022 Q4
4 quarters
VRDN icon
44
Viridian Therapeutics
VRDN
$2.08B
$7.04M 0.26%
323,102
-1,412,080
-81% -$22.3M
2023 Q2
2 quarters
ADPT icon
45
Adaptive Biotechnologies
ADPT
$4.09B
$6.65M 0.24%
1,357,490
+389,800
+40% +$1.78M
2023 Q1
3 quarters
HLVX icon
46
DELISTED
HilleVax
HLVX
$3.26M 0.12%
203,407
-1,245,839
-86% -$16.6M
2022 Q4
4 quarters
CMPX icon
47
Compass Therapeutics
CMPX
$158M
$496K 0.02%
317,761
-5,636,512
-95% -$9.75M
2022 Q4
4 quarters
AGEN icon
48
Agenus
AGEN
$294M
– –
-315,352
Closed -$7.13M –
ALXO icon
49
ALX Oncology
ALXO
$124M
– –
-1,249,900
Closed -$6M –
ANAB icon
50
AnaptysBio
ANAB
$1.4B
– –
-1,049,823
Closed -$18.9M –
1
2
3

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M
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AG
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NIM
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GC
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CCM
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ACP
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GBCP
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SCM
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Braidwell's Q4 2023 Portfolio in Review

As of Q4 2023, Braidwell held 91 positions worth $2.72B, down 14% from $3.16B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Braidwell withdrew a net $1.85B in Q4 2023, closing 19 positions and reducing 23 holdings. Its most notable exit was Boston Scientific, an estimated $61.5M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 51% of assets, up from 48% a quarter earlier, followed by Healthcare and Consumer Staples.

Against the trend, Braidwell opened a new position in argenx worth $58.3M.

  • Braidwell's largest Q4 2023 buy was argenx: 153,204 shares worth $58.3M.
  • Braidwell added most to Penumbra in Q4 2023, an estimated $28.2M increase.
  • Braidwell's biggest Q4 2023 reduction was Merus, cutting an estimated $35.7M.
  • Braidwell fully exited Boston Scientific in Q4 2023, selling an estimated $61.5M.
  • Braidwell's ten largest holdings make up 40% of its $2.72B portfolio in Q4 2023.
  • Braidwell opened 5 new positions and closed 19 in Q4 2023.
  • Braidwell's portfolio value fell 14% quarter-over-quarter to $2.72B.

Based on Braidwell's 13F filing for Q4 2023, filed 14 Feb 2024.