Merck & Co., Inc.
•CIK: 310158•Filing: Q4 2025
**Merck & Co., Inc.** manages a $276M AUM across 12 concentrated positions, signaling a focused, deep-value approach. The portfolio is heavily weighted toward biotechnology and pharmaceutical innovation, evidenced by the top holding in PSNL at $111.8M. Significant allocations to MRNA ($68.1M) and KYMR ($60.1M) underscore a strategic bet on cutting-edge life science assets. This structure suggests a conviction-driven mandate targeting high-growth, specialized healthcare opportunities.
Total AUM
$276.3M
QoQ Performance
+21.2%
Positions
12
Top 10 Concentration
100.0%
Latest Filing
Q4 2025
Top Holdings Allocation
PSNL
MRNA
KYMR
ENTR
PSNL40.5%
MRNA24.6%
KYMR21.7%
ENTRADA6.5%
EVAXUSD2.1%
ALEC2.0%
SUTRO1.1%
VRDN1.1%
📈 Biggest Buys
No new positions or increases this quarter
📉 Biggest Sells
—
SUTRO BIOPHARMA INC
-90.0%
1.1% of portfolio
Sector Breakdown
Other100.0%
🚪 Exited Positionssold since Q3 2025
—
LAVA THERAPEUTICS NV
SOLD
$1.8M
Changes from Q3 2025
↓1 decreased
Historical Filings
Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024