Sanofi

Key Holdings

The portfolio is dominated by a single high-conviction position: MeiraGTx Holdings plc, which accounts for $100.39 million or 64.31% of the total assets. With 12.20 million shares, this position dictates the performance of the entire portfolio. The second-largest holding is Inhibrx Biosciences, Inc., comprising 24.98% of the portfolio ($39.00 million). Together, these two positions represent nearly 90% of the fund's total value, indicating a "barbell" strategy where the firm relies heavily on the success of two primary assets.