Gilead Sciences Inc

Gilead Sciences was a notable positive contributor to our portfolio, reflecting its strong performance in a challenging market. With a weight of 6.71% in our holdings, it contributed 0.76% to our overall returns. This performance underscores our belief in Gilead's resilience and potential for growth, particularly in the biotechnology sector, where it continues to demonstrate a competitive edge.

Within the healthcare sector, Gilead Sciences gained more than 14% after publishing promising cancer treatment results, and expanding its oncology franchise through a partnership with Kymera Therapeutics. This growth reflects the company's strong position in the oncology market and its commitment to advancing innovative treatments, which we believe will drive further value.

Gilead Sciences (GILD) and Jazz Pharmaceuticals (JAZZ) are among the positions we currently hold, in addition to our more traditional investments in senior residences and hospitals.

The letter discusses Gilead Sciences, Inc. in the context of its partnership with Arcellx, Inc. for the development of a next-generation CAR-T cell therapy called 'Anito-cel' for multiple myeloma. The manager notes that Gilead provides access to state-of-the-art manufacturing and existing sales infrastructure for Yescarta, a CAR-T used to treat a different type of blood cancer. This partnership is highlighted as a significant advantage for Arcellx in the competitive landscape of CAR-T therapies.

Gilead Sciences released quarterly earnings and revenues that exceeded consensus expectations, driven in part by strong sales for HIV treatment Biktarvy. High expectations for a summer 2025 launch of lenacapaviras, an HIV prevention treatment following breakthrough clinical results, also buoyed the stock. This performance indicates a strong market position and potential for future growth, reinforcing our confidence in Gilead as a valuable holding in our portfolio.

Gilead Sciences is owned due to its role in solving evolving health care challenges through the development of new medical treatments for conditions as chronic diseases are on the rise. The company reported better-than-expected quarterly results, largely driven by strong revenue from its HIV franchise. Additionally, Gilead provided an optimistic earnings guidance for the next fiscal year, helping provide defensiveness amid a flurry of volatility.

Gilead Sciences registered solid earnings, highlighting its oncology and liver disease franchise, HIV treatments and drug pipeline. The company's performance reflects strong fundamentals and a promising outlook, driven by its diverse treatment portfolio and ongoing innovation in drug development. This positions Gilead well for future growth, making it an attractive investment opportunity.

Gilead Sciences raised the dividend by +2.6% and beat on both EPS and revenue, driven by the strength of its HIV and oncology therapies. Management has guided FY2025 ahead of analysts’ expectations, indicating confidence in the company's performance. The new drug rollout is also ahead of expectations, suggesting a positive outlook for growth and income generation.

Gilead Sciences is mentioned as part of the Fund's stock selection and overweight position in Health Care, but no specific argument or directional stance is provided regarding its future performance or valuation.