Lack of Natera (NTRA) Exposure Weighs on Mid-Cap Fund Performance

Voya Investment Management’s Voya MidCap Opportunities Fund released its Q4 2025 investor letter, titled “Seeking a More Favorable Risk/Return Trade-off, outlining a quarter marked by solid market gains but relative fund underperformance. A copy of the letter can be downloaded here. During the quarter, the Fund underperformed its benchmark, the Russell Mid Cap Growth Index, primarily due to unfavorable stock selection, even as U.S. equity markets advanced on moderating inflation, robust earnings, and continued enthusiasm around artificial intelligence-driven investment. Looking ahead, the managers highlighted a cautiously constructive outlook, noting that while geopolitical risks and policy uncertainty persist, broadening market leadership beyond mega-cap growth, sustained corporate capital expenditure, and AI-led innovation could support returns, reinforcing the need for active and flexible positioning. In addition, please check the fund’s top five holdings to know its best picks in 2025.

Natera, Inc. (NASDAQ:NTRA) is a diagnostics company focused on genetic testing, with growing demand for its oncology and women’s health assays supporting revenue expansion. Not owning Natera, Inc. (NASDAQ:NTRA) detracted from fund performance during the quarter, as the stock moved sharply higher. Natera, Inc. (NASDAQ:NTRA) carried a 0.00% portfolio weighting, indicating it was no longer held as of December 31, 2025. The absence of exposure negatively affected relative results amid strength in select healthcare names. The one-month return of Natera, Inc. (NASDAQ:NTRA) was 6.17% while its shares have traded between $125.38 and $256.36 over the last 52 weeks. On January 22, 2026, Natera, Inc. (NASDAQ:NTRA) stock closed at approximately $242.91 per share, with a market capitalization of about $34.247 billion.

Voya Investment Management’s Voya MidCap Opportunities Fund stated the following regarding Natera, Inc. (NASDAQ:NTRA) in its Q4 2025 investor letter:

“Key detractors from performance included Roblox Corp., Doximity, Inc., and Natera, Inc. Not owning Natera, Inc. (NASDAQ:NTRA) detracted from performance. The stock rose after its earnings announcement, signaling a strong revenue beat.”

Lack of Natera (NTRA) Exposure Weighs on Mid-Cap Fund Performance

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Natera, Inc. (NASDAQ:NTRA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 70 hedge fund portfolios held Natera, Inc. (NASDAQ:NTRA) at the end of the third quarter, which was 66 in the previous quarter. While we acknowledge the risk and potential of Natera, Inc. (NASDAQ:NTRA) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Natera, Inc. (NASDAQ:NTRA) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered Natera, Inc. (NASDAQ:NTRA) and shared the list of high growth large cap stocks to buy right now. In addition, please check out our hedge fund investor letters Q4 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.