Alluvium Increases Stake in McKesson Amid Strong Long-Term Growth Outlook
In its second-quarter 2026 investor letter, the Conventum – Alluvium Global Fund disclosed an increased stake in McKesson Corporation (NYSE:MCK), citing strong long-term growth expectations. Despite a challenging quarter for healthcare stocks, management reaffirmed earnings guidance and reiterated a target of 13%-16% annual growth over the next several years. The fund's decision to add more shares came after its internal valuation model showed an 18% increase in McKesson’s value relative to the current share price. While the broader market saw gains, particularly from semiconductor stocks and some service providers like Alphabet, healthcare holdings including McKesson underperformed due to sector-specific headwinds. McKesson closed at $899.56 per share on September 15, with a year-to-date return of nearly 30%. The company has a market capitalization exceeding $106 billion and remains a key holding in the fund's portfolio.
Tickers: $MCK
Topics: Alluvium Asset Management fund investor letter McKesson stock performance