INTERNATIONAL BIOTECHNOLOGY TRUST PLC

CIK

942257

Location

LONDON, X0

Portfolio Value

Small $293,800,230

Diversification

Diversified

Filing Date

Global Rank

#3,638 / 7,036 ▼ 132 · as of Sep 2023

Top Industry

Biotechnology 66.1%

3Y Alpha vs SPY

-3.5%

Period ended 3 years ago

Filed Nov 14, 2023 · 2y

15 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Sep 30, 2023, never from the firm's own description.

Style

Diversified active

Top 10 weight 48.3%, 29.4 effective positions, active share 94.9% against the Dow Jones Industrial Average as of 2023-10-31; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

77.1% over the last four quarters (30% to under 100%)

Horizon

Horizon unknown

The value-weighted holding period is at least 10.1 quarters, but 39.2% of the book was already held when coverage starts

Closest benchmark: the Dow Jones Industrial Average as of 2023-10-31, active share 94.9%; sector active share 75.3% against the combined 13F book's sector weights.

Over time 15 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

64 tracked positions · as of Sep 30, 2023 · Δ vs Jun 30, 2023

Top Position

7.2%

−0.8 pts

Top 5

30.5%

−1.7 pts

Top 10

48.3%

−4.4 pts

HHI

340

Diversified−38

Portfolio Trend

15 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2023

Sector	% Portfolio	Value	Positions
Healthcare	86.7%	$254,586,538	56
Unclassified	13.3%	$39,213,692	8

Last Quarter's Activity

Export CSV

Sep 30, 2023 vs Jun 30, 2023

Added To

Positions the filer increased

18 positions

Ticker	Company	Δ Shares	Shares	Value
QURE	uniQure N.V.	+1,226,000	1,241,500	$8,330,465
ERAS	Erasca, Inc.	+500,000	1,926,000	$3,794,220
AUPH	Aurinia Pharmaceuticals Inc.	+467,000	1,040,530	$8,084,918
IOVA	Iovance Biotherapeutics, Inc.	+380,000	445,000	$2,024,750
AMLX	Amylyx Pharmaceuticals, Inc.	+270,000	295,000	$5,401,450
—		+200,000	290,000	$2,337,400
RARE	Ultragenyx Pharmaceutical Inc.	+170,000	250,052	$8,914,353
—		+141,000	317,856	$16,547,583
BMRN	Biomarin Pharmaceutical Inc	+95,000	153,656	$13,595,482
GILD	Gilead Sciences, Inc.	+89,000	233,584	$17,504,784
XENE	Xenon Pharmaceuticals Inc.	+66,000	91,500	$3,125,640
NVCR	NovoCure Ltd	+42,000	74,000	$1,195,100
BIIB	Biogen Inc.	+29,200	40,200	$10,331,802
ACAD	Acadia Pharmaceuticals Inc	+28,702	179,702	$3,744,989
SRPT	Sarepta Therapeutics, Inc.	+7,900	26,700	$3,236,574
—		+4,800	30,500	$5,157,245
ONC	BeOne Medicines Ltd.	+4,000	12,700	$2,284,349
KRYS	Krystal Biotech, Inc.	+147	46,092	$5,346,672
No positions match the current search.

Trimmed

Positions the filer reduced

13 positions

Ticker	Company	Δ Shares	Shares	Value
HRMY	Harmony Biosciences Holdings, Inc.	−256,000	314,500	$10,306,165
VERA	Vera Therapeutics, Inc.	−216,872	758,355	$10,397,047
DYN	Dyne Therapeutics, Inc.	−163,000	137,751	$1,234,248
—		−97,000	426,500	$11,758,605
—		−60,000	18,489	$935,174
ALNY	Alnylam Pharmaceuticals, Inc.	−44,800	36,800	$6,517,280
—		−44,000	216,000	$9,404,640
NBIX	Neurocrine Biosciences Inc	−40,000	28,877	$3,248,662
AMGN	Amgen Inc	−38,000	79,246	$21,298,154
DNLI	Denali Therapeutics Inc.	−34,000	154,000	$3,177,020
HALO	Halozyme Therapeutics, Inc.	−33,300	62,200	$2,376,040
UTHR	UNITED THERAPEUTICS Corp	−18,800	33,959	$7,670,319
REGN	Regeneron Pharmaceuticals, Inc.	−18,153	8,847	$7,280,727
No positions match the current search.

New Positions

Positions the filer opened this quarter

8 positions

Ticker	Company	Shares	Value
CRSP	CRISPR Therapeutics AG	63,000	$2,859,570
GMAB	Genmab A/S	44,300	$1,562,461
COGT	Cogent Biosciences, Inc.	135,000	$1,316,250
—		90,000	$1,092,600
—		20,000	$1,002,200
—		703,825	$830,514
PRTA	Prothena Corp Public Ltd Co	15,000	$723,750
VIR	Vir Biotechnology, Inc.	47,000	$440,390
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
—		129,700	$11,810,482
TVTX	Travere Therapeutics, Inc.	441,019	$6,774,051
—		20,000	$939,400
HCM	HUTCHMED (China) Ltd	68,000	$816,000
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

64 tracked positions · $293,800,230 total · filing declares 65 positions · $296,845,651 · as of Sep 30, 2023

All sectors Healthcare

Showing 1–50 of 64 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
AMGN	Amgen Inc Healthcare	Reduced	79,246	-38,000	$21,298,154	−18.2%	15+	before history	7.25%
INCY	Incyte Corp Healthcare	Held	358,454	0	$20,707,887	−7.2%	15+	before history	7.05%
GILD	Gilead Sciences, Inc. Healthcare	Added	233,584	+89,000	$17,504,784	+57.1%	15+	before history	5.96%
		Added	317,856	+141,000	$16,547,583	+48.0%	15+	before history	5.63%
BMRN	Biomarin Pharmaceutical Inc Healthcare	Added	153,656	+95,000	$13,595,482	+167.4%	15+	before history	4.63%
		Reduced	426,500	-97,000	$11,758,605	−25.3%	10	unpriced	4.00%
VERA	Vera Therapeutics, Inc. Healthcare	Reduced	758,355	-216,872	$10,397,047	−33.6%	8	$10.82	3.54%
BIIB	Biogen Inc. Healthcare	Added	40,200	+29,200	$10,331,802	+229.7%	6	$251.89	3.52%
HRMY	Harmony Biosciences Holdings, Inc. Healthcare	Reduced	314,500	-256,000	$10,306,165	−48.7%	10	$46.70	3.51%
		Reduced	216,000	-44,000	$9,404,640	+0.1%	15+	before history	3.20%
RARE	Ultragenyx Pharmaceutical Inc. Healthcare	Added	250,052	+170,000	$8,914,353	+141.4%	11	unpriced	3.03%
QURE	uniQure N.V. Healthcare	Added	1,241,500	+1,226,000	$8,330,465	+4589.8%	15+	before history	2.84%
AUPH	Aurinia Pharmaceuticals Inc. Healthcare	Added	1,040,530	+467,000	$8,084,918	+45.6%	13	$9.22	2.75%
UTHR	UNITED THERAPEUTICS Corp Healthcare	Reduced	33,959	-18,800	$7,670,319	−34.1%	7	$225.54	2.61%
VRTX	Vertex Pharmaceuticals Inc Healthcare	Held	21,000	0	$7,302,540	−1.2%	3	$299.93	2.49%
REGN	Regeneron Pharmaceuticals, Inc. Healthcare	Reduced	8,847	-18,153	$7,280,727	−62.5%	14	$683.87	2.48%
ILMN	Illumina, Inc. Healthcare	Held	50,500	0	$6,932,642	−26.8%	9	unpriced	2.36%
ALNY	Alnylam Pharmaceuticals, Inc. Healthcare	Reduced	36,800	-44,800	$6,517,280	−58.0%	15+	before history	2.22%
AMLX	Amylyx Pharmaceuticals, Inc. Healthcare	Added	295,000	+270,000	$5,401,450	+901.7%	2	$21.64	1.84%
KRYS	Krystal Biotech, Inc. Healthcare	Added	46,092	+147	$5,346,672	−0.9%	8	$73.38	1.82%
		Added	30,500	+4,800	$5,157,245	−7.4%	3	unpriced	1.76%
AXSM	Axsome Therapeutics, Inc. Healthcare	Held	58,300	0	$4,074,587	−2.7%	2	$73.77	1.39%
ERAS	Erasca, Inc. Healthcare	Added	1,926,000	+500,000	$3,794,220	−3.6%	3	$3.36	1.29%
ACAD	Acadia Pharmaceuticals Inc Healthcare	Added	179,702	+28,702	$3,744,989	+3.6%	4	$19.01	1.27%
		Held	288,726	0	$3,308,800	−54.7%	5	unpriced	1.13%
NBIX	Neurocrine Biosciences Inc Healthcare	Reduced	28,877	-40,000	$3,248,662	−50.0%	2	$97.71	1.11%
SRPT	Sarepta Therapeutics, Inc. Healthcare	Added	26,700	+7,900	$3,236,574	+50.3%	2	$124.24	1.10%
RCKT	Rocket Pharmaceuticals, Inc. Healthcare	Held	156,000	0	$3,196,440	+3.1%	9	$18.46	1.09%
DNLI	Denali Therapeutics Inc. Healthcare	Reduced	154,000	-34,000	$3,177,020	−42.7%	8	$28.92	1.08%
XENE	Xenon Pharmaceuticals Inc. Healthcare	Added	91,500	+66,000	$3,125,640	+218.4%	10	$36.85	1.06%
CRSP	CRISPR Therapeutics AG Healthcare	NEW	63,000	NEW	$2,859,570	NEW	1	$51.65	0.97%
MDGL	Madrigal Pharmaceuticals, Inc. Healthcare	Held	18,300	0	$2,672,532	−36.8%	2	$270.85	0.91%
LEGN	Legend Biotech Corp Healthcare	Held	38,000	0	$2,552,460	−2.7%	9	$46.90	0.87%
HALO	Halozyme Therapeutics, Inc. Healthcare	Reduced	62,200	-33,300	$2,376,040	−31.0%	3	$40.21	0.81%
		Added	290,000	+200,000	$2,337,400	+139.1%	2	unpriced	0.80%
ONC	BeOne Medicines Ltd. Healthcare	Added	12,700	+4,000	$2,284,349	+47.3%	8	$207.09	0.78%
JAZZ	Jazz Pharmaceuticals plc Healthcare	Held	17,200	0	$2,226,368	+4.4%	10	$153.46	0.76%
MIRM	Mirum Pharmaceuticals, Inc. Healthcare	Held	67,500	0	$2,133,000	+22.1%	5	$20.36	0.73%
IOVA	Iovance Biotherapeutics, Inc. Healthcare	Added	445,000	+380,000	$2,024,750	+342.5%	13	$7.30	0.69%
IONS	Ionis Pharmaceuticals Inc Healthcare	Held	43,000	0	$1,950,480	+10.6%	3	$37.55	0.66%
ZLAB	Zai Lab Ltd Healthcare	Held	78,958	0	$1,919,468	−12.3%	10	unpriced	0.65%
GMAB	Genmab A/S Healthcare	NEW	44,300	NEW	$1,562,461	NEW	1	$38.11	0.53%
CLDX	Celldex Therapeutics, Inc. Healthcare	Held	48,099	0	$1,323,684	−18.9%	2	$33.70	0.45%
COGT	Cogent Biosciences, Inc. Healthcare	NEW	135,000	NEW	$1,316,250	NEW	1	$11.86	0.45%
DYN	Dyne Therapeutics, Inc. Healthcare	Reduced	137,751	-163,000	$1,234,248	−63.5%	11	$11.54	0.42%
NVCR	NovoCure Ltd Healthcare	Added	74,000	+42,000	$1,195,100	−10.0%	6	$50.02	0.41%
		NEW	90,000	NEW	$1,092,600	NEW	1	unpriced	0.37%
CYTK	Cytokinetics Inc Healthcare	Held	37,000	0	$1,090,020	−9.7%	2	$37.00	0.37%
GH	Guardant Health, Inc. Healthcare	Held	36,500	0	$1,081,860	−17.2%	10	$53.89	0.37%
INSM	INSMED Inc Healthcare	Held	40,100	0	$1,012,525	+19.7%	15+	before history	0.34%

Showing the top 50 of 64 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.