Overweight Doximity (DOCS) Position Weighs on 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.

Doximity, Inc. (NYSE:DOCS) runs a digital professional network for U.S. healthcare providers, generating revenue through recruiting tools, telehealth solutions, and pharmaceutical marketing. The one-month return of Doximity, Inc. (NYSE:DOCS) was -7.21% while its shares have traded between $39.95 to $85.21 over the last 52 weeks. On January 22, 2026, Doximity, Inc. (NYSE:DOCS) stock closed at approximately $40.80 per share, with a market capitalization of about $7.633 billion.

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

“Key detractors from performance included Roblox Corp., Doximity, Inc., and Natera, Inc. An overweight position in Doximity, Inc. (NYSE:DOCS) detracted from performance. The stock declined following a quarterly earnings report signaling cautious guidance and uncertainty after recent healthcare policy changes.”

Overweight Doximity (DOCS) Position Weighs on Fund Performance

Doximity, Inc. (NYSE:DOCS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held Doximity, Inc. (NYSE:DOCS) at the end of the third quarter, which was 41 in the previous quarter. While we acknowledge the risk and potential of Doximity, Inc. (NYSE:DOCS) 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 Doximity, Inc. (NYSE:DOCS) and that has 10,000% upside potential, check out our report about this cheapest AI stock.

In another article, we covered Doximity, Inc. (NYSE:DOCS) and shared the list of the most promising growth stocks according to analysts. 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.