Aristotle Capital Management, LLC, an investment management company, released its “Core Equity Fund” first-quarter 2026 investor letter. A copy of the letter can be downloaded here. During the first quarter, the U.S. equity market declined, with the S&P 500 Index falling by 4.33%. The fixed-income sector also saw a downturn; the Bloomberg U.S. Aggregate Bond Index fell by 0.05%. In the quarter, the Fund (Class I-2) posted a total return of -4.45%, compared to the S&P 500 Index’s -4.33% return. The Fund’s underperformance in the quarter was driven by the allocation effect, while security selection contributed positively. In this environment, the Fund continues to focus on companies experiencing secular tailwinds or robust product-driven cycles. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Aristotle Core Equity Fund highlighted Immunome, Inc. (NASDAQ:IMNM) as a newly added position. Immunome, Inc. (NASDAQ:IMNM) is a biotechnology company that focuses on the design and development of antibody-drug conjugates and other oncology therapeutics. On May 15, 2026, Immunome, Inc. (NASDAQ:IMNM) closed at $20.88 per share. One-month return of Immunome, Inc. (NASDAQ:IMNM) was -13.90%, and its shares gained 160.67% over the past 52 weeks. Immunome, Inc. (NASDAQ:IMNM) has a market capitalization of $2.37 billion.
Aristotle Core Equity Fund stated the following regarding Immunome, Inc. (NASDAQ:IMNM) in its Q1 2026 investor letter:
“Immunome, Inc. (NASDAQ:IMNM) is a biotechnology company focused on developing innovative therapies by combining unique or underexplored biological targets with advanced technology platforms. The organization is guided by President and Chief Executive Officer Clay Siegall, Ph.D., who previously founded and led SeaGen and is recognized for his experience in growing oncology businesses and securing significant acquisitions. The leadership team is composed of experts with backgrounds in designing, developing and commercializing cancer treatments. Immunome’s portfolio includes three clinical-stage drug candidates. The company is also advancing several preclinical programs.
We believe Immunome presents a compelling investment opportunity, driven by its focus on personalized medicine and the promising product story of Varegacestat for desmoid tumors. The company has reported positive phase 3 data and is preparing to file for Food and Drug Administration (FDA) approval, with potential commercial launch anticipated in late 2026 or early 2027. The desmoid tumor market is expected to reach a peak size of $500 million to $700 million. Immunome benefits from experienced leadership, notably its founder’s successful track record at SeaGen, and maintains a strong financial position following a recent capital raise, resulting in pro forma cash exceeding $600 million.”
Immunome, Inc. (NASDAQ:IMNM) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 34 hedge fund portfolios held Immunome, Inc. (NASDAQ:IMNM) at the end of the fourth quarter, up from 22 in the previous quarter. While we acknowledge the risk and potential of Immunome, Inc. (NASDAQ:IMNM) 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 Immunome, Inc. (NASDAQ:IMNM) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Immunome, Inc. (NASDAQ:IMNM) and shared the list of best biotech stocks to invest in according to billionaire Steve Cohen. In addition, please check out our hedge fund investor letters Q1 2026 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.
