Healthcare fund Eaton Vance significantly reduced its holdings in Zoetis in the second quarter, with its holdings falling by 45.48%
Eaton Vance Global Healthcare Sciences Fund made significant changes to its portfolio in the second quarter of 2026, most notably cutting its holdings in Zoetis Inc by 45.48%. This reduction operation had a negative impact of approximately 1.4% on the net value of the fund's overall portfolio. According to the latest SEC 13F filing disclosure, as of February 28, 2026, the fund held approximately 200,609 shares of Zoetis, worth approximately $25.71 million. By the end of the second quarter, its holdings had dropped significantly from previous levels. The background of this substantial reduction in Zoetis's holdings is that the company's recent performance has been under certain pressure. In the first quarter of 2026, Zoetis' companion animal business revenue in the U.S. market fell 8%. Its core dermatology products and osteoarthritis pain drugs are facing competitive pressure or declining sales. In addition, the company's financial report for the second quarter of fiscal year 2026 announced in May 2026 showed that its earnings per share were US$1.53, which was lower than the market consensus of US$1.62. The stock price fell by approximately 6.9% after the financial report was released. For comparison, the fund also increased its holdings of Zoetis shares in early 2026. The reduction in holdings in the second quarter indicates that fund managers may choose to reduce their risk exposure to the company in the context of Zoetis' performance growth slowing down and competition intensifying. While Zoetis continues to see growth in its international markets and livestock business, weakness in the U.S. market could be a key factor in prompting funds to adjust their holdings. Currently, the top five holdings of the Eaton Vance Global Healthcare Science Fund are still and Roche, with Eli Lilly holding the largest weighting of approximately 11.33%.