BROADWOOD CAPITAL INC

Broadwood Capital's $1.70B Q4 2025 13F is a concentrated, family-office-style portfolio in which the largest rotation was the addition of STAAR Surgical at $346.8M — a 20.4% weight that made it the third-largest position overnight. The manager simultaneously trimmed Axon Enterprise from 42.3% to 23.1% of assets (a reduction driven by price, not by shares), held Monster Beverage roughly flat in shares while letting the position grow to $628.6M, and entered all four major U.S. legacy airlines — United, American, Southwest, and Delta — at token but thematically meaningful sizes. The portfolio remains anchored by Monster Beverage and Axon Enterprise, which together are 60% of assets, but is now explicitly a three-layer book: consumer-defensive beverages, public-safety equipment, and vision-surgery devices — with IWM as a small-cap overlay and airline names as directional travel exposure.