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Tri Locum Partners Portfolio holdings

AUM $713M
1-Year Est. Return 68.92%
This Fund
S&P 500
This Quarter Est. Return
+22.51%
1 Year Est. Return
+68.92%
3 Year Est. Return
+377.81%
5 Year Est. Return
+1,289.15%
10 Year Est. Return
–
AUM
$770M
AUM Growth
+$335M
Cap. Flow
+$243M
Cap. Flow %
31.51%
Top 10 Hldgs %
80.13%
Holding
25
New
7
Increased
4
Reduced
4
Closed
10

Top Buys

Rank Stock Value
1
DHR icon
Danaher
DHR
+$76.3M
2
LLY icon
Eli Lilly
LLY
+$60.5M
3
JNJ icon
Johnson & Johnson
JNJ
+$59.4M
4
BSX icon
Boston Scientific
BSX
+$51M
5
IONS icon
Ionis Pharmaceuticals
IONS
+$42M

Top Sells

Rank Stock Value
1
MRK icon
Merck
MRK
+$37.5M
2
SLNO
Soleno Therapeutics
SLNO
+$30.5M
3
ABBV icon
AbbVie
ABBV
+$20.8M
4
KRRO icon
Korro Bio
KRRO
+$16.2M
5
XENE icon
Xenon Pharmaceuticals
XENE
+$14.7M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JNJ icon
1
Johnson & Johnson
JNJ
$609B
$125M 16.21%
603,143
+300,312
+99% +$59.4M
DHR icon
2
Danaher
DHR
$144B
$79.4M 10.31%
+346,875
New +$76.3M
LLY icon
3
Eli Lilly
LLY
$1.05T
$68M 8.83%
+63,284
New +$60.5M
UTHR icon
4
United Therapeutics
UTHR
$22.7B
$58.9M 7.65%
120,921
-1,266
-1% -$590K
ASND icon
5
Ascendis Pharma A/S
ASND
$17.1B
$56.5M 7.34%
265,015
+90,186
+52% +$18.6M
MDGL icon
6
Madrigal Pharmaceuticals
MDGL
$12.8B
$50.1M 6.5%
86,023
+18,317
+27% +$9.36M
BSX icon
7
Boston Scientific
BSX
$65.4B
$49.6M 6.44%
+520,508
New +$51M
TEVA icon
8
Teva Pharmaceuticals
TEVA
$37.3B
$44.8M 5.82%
+1,435,865
New +$35.4M
IONS icon
9
Ionis Pharmaceuticals
IONS
$8.99B
$44.1M 5.72%
+557,174
New +$42M
VERA icon
10
Vera Therapeutics
VERA
$2.76B
$40.8M 5.3%
805,689
-384,518
-32% -$13.7M
AXSM icon
11
Axsome Therapeutics
AXSM
$11.8B
$36.8M 4.78%
201,627
-90,510
-31% -$12.6M
ARGX icon
12
argenx
ARGX
$53.8B
$31.7M 4.11%
37,653
-5,758
-13% -$4.93M
NUVL
13
DELISTED
Nuvalent
NUVL
$30.9M 4.01%
+307,371
New +$30.3M
DXCM icon
14
DexCom
DXCM
$29.6B
$28M 3.63%
+421,600
New +$27.3M
DNTH icon
15
Dianthus Therapeutics
DNTH
$5.77B
$25.6M 3.33%
622,403
+439,536
+240% +$17M
ABBV icon
16
AbbVie
ABBV
$450B
– –
-89,621
Closed -$20.8M
AVDL
17
DELISTED
Avadel Pharmaceuticals
AVDL
– –
-724,859
Closed -$11.1M
BHVN icon
18
Biohaven
BHVN
$2.32B
– –
-149,179
Closed -$2.24M
KRRO icon
19
Korro Bio
KRRO
$177M
– –
-337,764
Closed -$16.2M
MRK icon
20
Merck
MRK
$315B
– –
-446,874
Closed -$37.5M
PRAX icon
21
Praxis Precision Medicines
PRAX
$8.77B
– –
-75,986
Closed -$4.03M
SLNO
22
DELISTED
Soleno Therapeutics
SLNO
– –
-450,585
Closed -$30.5M
STVN icon
23
Stevanato
STVN
$5.23B
– –
-332,912
Closed -$8.57M
TARS icon
24
Tarsus Pharmaceuticals
TARS
$2.61B
– –
-119,260
Closed -$7.09M
XENE icon
25
Xenon Pharmaceuticals
XENE
$6.6B
– –
-366,102
Closed -$14.7M

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Tri Locum Partners's Q4 2025 Portfolio in Review

As of Q4 2025, Tri Locum Partners held 25 positions worth $770M, up 77% from $435M the previous quarter. Its ten largest holdings account for 80% of the portfolio.

Tri Locum Partners deployed $243M of net new capital in Q4 2025, opening 7 new positions and adding to 4 existing holdings. Its largest new stake was Danaher: 346,875 shares worth $79.4M.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, unchanged from a quarter earlier.

On the sell side, the largest reduction was Vera Therapeutics, an estimated $13.7M trimmed.

  • Tri Locum Partners's largest Q4 2025 buy was Danaher: 346,875 shares worth $79.4M.
  • Tri Locum Partners added most to Johnson & Johnson in Q4 2025, an estimated $59.4M increase.
  • Tri Locum Partners's biggest Q4 2025 reduction was Vera Therapeutics, cutting an estimated $13.7M.
  • Tri Locum Partners fully exited Merck in Q4 2025, selling an estimated $37.5M.
  • Tri Locum Partners's ten largest holdings make up 80% of its $770M portfolio in Q4 2025.
  • Tri Locum Partners opened 7 new positions and closed 10 in Q4 2025.
  • Tri Locum Partners's portfolio value rose 77% quarter-over-quarter to $770M.

Based on Tri Locum Partners's 13F filing for Q4 2025, filed 17 Feb 2026.