Fifty-eight top-200 alpha managers held $GILD as of Q1 2026, up from what the data implies was a far smaller cohort: 47 of those 58 positions are initiations this quarter, with zero exits and no trims recorded.
The heaviest conviction among continuing holders sits with Nexus Investment Management ULC, which carried $GILD at 4.96% weight after adding +0.65pp quarter-on-quarter. The single largest directional move came from Bellevue Group AG, which expanded from a 0.12% stub to 3.88% — a +3.76pp addition that now makes it the second-largest cohort holder by weight. Sectoral Asset Management Inc. initiated at 3.42%, the largest new position in the cohort this quarter.
Among the 47 initiations, most are small: Erste Asset Management GmbH opened at 0.69%, BNP Paribas at 0.44%, and the Australian construction-industry super fund CBUS entered at 0.96%. The cohort's average position weight across all 58 holders is 0.42%, with a range of effectively 0.00% to 4.96% — a distribution that reflects a handful of genuine conviction positions sitting atop a long tail of sub-0.10% allocations.
Forty-seven new positions in a single quarter is structurally unusual; it suggests $GILD moved onto screening criteria — dividend yield thresholds, sector rotation filters, or index-rebalance triggers — that a wide swath of the cohort shares. The one manager who trimmed is not present in the data; no cohort member reduced exposure this quarter.