Oct 24, 2025

Trades Portfolio ) recently submitted its N-PORT filing for the third quarter of 2025, revealing strategic investment decisions. The fund, based in Boston and London, focuses on companies engaged in healthcare advancements, including biotechnology, pharmaceuticals, and medical equipment. With a keen eye on aging demographics, innovation, and rising global incomes, the fund anticipates continued growth in healthcare spending. The portfolio managers prioritize stocks that are reasonably priced relative to their fundamental value, aiming for long-term growth despite market fluctuations. Their stock selection process considers factors like market share potential for larger companies and R&D prospects for smaller ones. Summary of New Buy Trades Portfolio ) added a total of two stocks in the third quarter of 2025, reflecting strategic additions to its portfolio: The most significant addition was Caris Life Sciences Inc ( CAI Financial ), with 326,226 shares, accounting for 1.51% of the portfolio and a total value of $12.52 million. The second largest addition was HeartFlow Inc ( HTFL Financial ), consisting of 218,978 shares, representing approximately 0.83% of the portfolio, with a total value of $6.90 million. Key Position Increases The fund also increased stakes in a total of five stocks, with notable adjustments: The most significant increase was in UnitedHealth Group Inc ( UNH Financial ), with an additional 20,460 shares, bringing the total to 91,226 shares. This adjustment represents a 28.91% increase in share count, a 0.76% impact on the current portfolio, with a total value of $28.27 million. The second largest increase was in Humana Inc ( HUM Financial ), with an additional 13,941 shares, bringing the total to 28,499. This adjustment represents a 95.76% increase in share count, with a total value of $8.65 million. Summary of Sold Out Trades Portfolio ) completely exited four holdings in the third quarter of 2025: Elevance Health Inc ( ELV Financial ): The fund sold all 34,372 shares, resulting in a -1.54% impact on the portfolio. Centene Corp ( CNC Financial ): The fund liquidated all 164,203 shares, causing a -1.08% impact on the portfolio. Key Position Reduces The fund also reduced its position in 12 stocks, with significant changes including: Reduced Straumann Holding AG ( XSWX:STMN Financial ) by 38,827 shares, resulting in a -40.58% decrease in shares and a -0.58% impact on the portfolio. The stock traded at an average price of CHF 102.92 during the quarter and has returned -17.14% over the past three months and -21.00% year-to-date. Reduced McKesson Corp ( MCK Financial ) by 6,906 shares, resulting in a -25.16% reduction in shares and a -0.58% impact on the portfolio. The stock traded at an average price of $705.69 during the quarter and has returned 11.19% over the past three months and 39.60% year-to-date. Portfolio Overview As of the third quarter of 2025, Trades Portfolio )'s portfolio included 42 stocks. The top holdings were 10.22% in Eli Lilly and Co ( LLY Financial ), 6.64% in AbbVie Inc ( ABBV Financial ), 6.11% in AstraZeneca PLC ( LSE:AZN Financial ), 5% in Roche Holding AG ( XSWX:ROG Financial ), and 4.99% in Abbott Laboratories ( ABT Financial The holdings are primarily concentrated in the healthcare industry, reflecting the fund's strategic focus on this sector. This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to editors@gurufocus.com