Patient Investment Management, a value investment firm, released its “Patient Opportunity Equity Strategy” in the fourth quarter of 2025. A copy of the letter can be downloaded here. In Q4 2025, the Patient Opportunity Equity Strategy returned 5.99% net of fees, compared to its unadjusted benchmark, the S&P 500 Index, which returned 2.65%. Through a three-factor performance attribution model, portfolio performance is attributed to allocation, selection, and interaction effects. The market ended a strong year with a 17.9% return, marking the seventh best three-year run in market history. 2025 was the year of AI, extending benefits to hardware, energy, and component suppliers throughout the ecosystem. Seven stocks account for half of the S&P 500’s returns, creating problems for active managers. Nevertheless, the strategy performed well, outperforming the S&P 500 for the third consecutive year by returning 26.1%. Please review the top five properties of the strategy to gain insight into their key choices for 2025.
In its fourth quarter 2025 investor letter, Illumina, Inc.’s Patient Equity Strategy (NASDAQ: ILMN ) pointed out. Illumina, Inc. (NASDAQ: ILMN ) is a biotechnology company focused on sequencing and array-based solutions for genetic and genomic analysis. On March 04, 2026, Illumina, Inc. (NASDAQ: ILMN ) stock closed at $128.97 per share. Illumina, Inc. (NASDAQ:ILMN)’s one-month return was -3.47%, and its shares have grown 52.36% over the past 52 weeks. Illumina Inc. (NASDAQ: ILMN ) has a market capitalization of $19.72 billion.
Patient Opportunity Equity Strategy Illumina, Inc. (NASDAQ: ILMN ) stated the following in its fourth quarter 2025 investor letter:
Illumina, Inc. (NASDAQ: ILMN ) was the top contributor during the quarter after reporting stronger-than-expected third-quarter earnings. The company surprised the upside with meaningful beats and upgrades, supported by continued momentum in clinical consumables, which grew faster than expected as shipments to the high-end NovaSeq X continued to ramp. We believe that the alumina core configuration business is returning to a normalized growth and profitability profile after several years of turbulence. As confidence grows around continued demand and margin recovery, we believe the market is beginning to better appreciate the earnings power of the company’s market-leading platform.
Illumina, Inc. (NASDAQ: ILMN ) is not on our list of the 40 most popular stocks among hedge funds. According to our database, 46 hedge fund portfolios held Illumina, Inc. at the end of the fourth quarter. (NASDAQ: ILMN ) held, up from 45 in the previous quarter. Illumina, Inc. (NASDAQ: ILMN ) reported revenue of $1.16 billion in Q4 2025, an increase of 5% on a reported year-over-year basis and 4% on a constant currency basis. While we have Illumina, Inc. as an investment. (NASDAQ: ILMN) potential, we believe some AI stocks offer more potential and lower risk. If you’re looking for the most undervalued AI stocks that stand to benefit significantly from Trump-era tariffs and the offshore trend, check out our free report Best short-term AI stocks.
(translating tags)Illumina
