13F
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Redmile Group, LLC

13F equity value
$1.5B
Positions
35
Top 10 concentration
81.9%
Quarters / total new picks
27 / 106
13F equity value over time
$0M$4B$8B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 27 quarters, returned +0.7% per quarter — versus +2.4% per quarter from simply owning every 13F stock. It beat that baseline in only 48.1% of quarters (excess t = 0.32, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+1.4%
t-stat
0.32
Quarterly win rate
48%
Annualized excess
-10.9%
$1 → follow vs universe
$0.83 vs $1.70
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320181231: universe 0.99220190331: universe 0.97520190630: universe 1.04820190930: universe 1.12720191231: universe 0.90920200331: universe 1.09620200630: universe 1.21120200930: universe 1.48520201231: universe 1.55320210331: universe 1.56620211231: universe 1.33320220331: universe 1.43120220630: universe 1.32620220930: universe 1.42420221231: universe 1.32320230331: universe 1.39420230630: universe 1.34420230930: universe 1.52520231231: universe 1.59420240331: universe 1.63020240930: universe 1.61620241231: universe 1.50820250331: universe 1.64420251231: universe 1.700 20180331: follow 0.77620180630: follow 0.74520180930: follow 0.76220181231: follow 0.60720190331: follow 0.45920190630: follow 0.48520190930: follow 0.61920191231: follow 0.60520200331: follow 0.77420200630: follow 0.84120200930: follow 0.98420201231: follow 1.13420210331: follow 1.30820211231: follow 1.27020220331: follow 0.89820220630: follow 0.77120220930: follow 0.87520221231: follow 0.88820230331: follow 0.83420230630: follow 0.68220230930: follow 0.87720231231: follow 0.81420240331: follow 0.70020240930: follow 0.83720241231: follow 0.71420250331: follow 0.79920251231: follow 0.829 0.42 1.13 1.84 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 35 · 2026 Q1

Ticker Value Weight QoQ
SRRK $446M
29.5%
ADD
KRYS $174M
11.5%
HOLD
STOK $136M
9.0%
ADD
IMNM $122M
8.1%
TRIM
NRIX $120M
7.9%
TRIM
ANNX $81M
5.3%
ADD
ADCT $58M
3.8%
HOLD
RGNX $37M
2.4%
HOLD
STTK $36M
2.4%
HOLD
BEAM $29M
1.9%
TRIM
NGNE $29M
1.9%
HOLD
COGT $26M
1.8%
TRIM
ABSI $25M
1.6%
HOLD
IDYA $17M
1.1%
TRIM
ALXO $16M
1.1%
ADD
FATE $15M
1.0%
HOLD
XENE $15M
1.0%
ADD
SLDB $14M
1.0%
ADD
NUVB $14M
0.9%
HOLD
ZYME $12M
0.8%
HOLD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

ARDXBMRNPRME

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.