Q3 2023 Hedge Fund Analysis

SUMMARY

• Hedge fund holdings can help you discover new investment ideas

• We identified & follow the top biopharma-focused hedge funds

• Q3 hedge fund holdings reports were released on ~11/14/23

• This report focuses on top holdings of top biopharma hedge funds as of 9/30/23

Top Biopharma Hedge Funds

At BPIQ we identified the top smid-cap biopharma-focused hedge funds ^1. We updated our database of holding and other info re: these funds with their recently-released data for holdings as of 9/30/23 ^2 (See Table 1 📸).

If you click the Hedge Fund link in our new app.bpiq.com site you can search for any ticker to instantly find whether any of these funds held that ticker at the end of last quarter. If you are a BPIQ subscriber you will see results instantly from the latest holdings release of all the hedge funds of Table 1. If you are not a subscriber, see below 👇 to subscribe today.

Table 1. General Info Re: Top Biopharma-focused hedge funds ^1

Top Holdings

From our tracking and back-testing, we have found that top and consensus holdings of these funds consistently outperform XBI (See Table 2 📸)

Table 2. Results of back-testing various strategies (1-6) based on consensus and/or top holdings across the top biopharma hedge funds.

Accordingly, we identified the top 20 holdings in their most recent quarterly report for these biopharma hedge funds to find which tickers are top holdings of multiple biotech hedge funds (Table 3 📸). See Tables 4a and 4b for all Top 20s in the 36 Hedge Funds we analyzed 📸.

Table 3. Top occurrences of companies in the Top 20 of Hedge Funds

Tables 4a and 4b. Top 20 stock positions held by biotech hedge funds in Q3 2023 ^3

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Footnotes:

^1 Hedge funds and other SEC form 13F filing entities

^2 Like all hedge funds, updated holdings info for the top biopharma hedge funds as of the last day of last quarter, were due 45 days after the end of the quarter.

^3 Tables 4a and 4b are color-coded based on the prevalence of the ticker in the hedge funds Top 20s. Darker green colored cells have the highest occurrence (with the darkest green showing 10 occurrences) and lighter green colored cells have less occurrences (with the lightest green showing 5 occurrences). Refer to Table 3 to see specific numbers of occurrences for each ticker.

This article is not investment, tax, or legal advice. Please do your own diligence and seek advice from professional advisors representing your interests.

Article history:

First published 11/19/23 RF & EV