FBT holdings changes reported for October 16, 2026, were led by a new $90.7 million position in Tarsus Pharmaceuticals. The First Trust NYSE Arca Biotechnology Index Fund increased 17 positions and reduced 13, with reported net buying of $80.2 million.
Key Takeaways
- Tarsus was the largest addition, with 1,332,309 shares representing a reported 3.13% portfolio weight.
- Halozyme, Natera and Illumina accounted for the largest reported reductions; no positions were fully exited.
- First Trust’s separate October 21 holdings disclosure confirms Tarsus remained in the portfolio, but does not verify the October 16 transactions.
Table of Contents
- FBT holdings changes favor Tarsus and existing positions
- Largest reductions leave major holdings intact
- A later issuer snapshot provides a separate reference
- Conclusion
FBT holdings changes favor Tarsus and existing positions
The October 16 update showed $516.5 million in gross trading against fund assets of $2.92 billion. Net buying was much smaller than gross activity because additions were partly offset by reductions elsewhere in the portfolio.
Beyond the new Tarsus position, the fund added to Axsome Therapeutics, Alkermes, Alnylam Pharmaceuticals and Veracyte. The reported dollar values describe changes in holdings, rather than gains in the underlying stocks.
| Item | Details |
|---|---|
| Tarsus Pharmaceuticals | New position; reported addition of $90.7 million |
| Axsome Therapeutics | Reported addition of $29.6 million |
| Alkermes | Reported addition of $26.4 million |
| Alnylam Pharmaceuticals | Reported addition of $26.2 million |
| Veracyte | Reported addition of $23.8 million |
Largest reductions leave major holdings intact
The largest reported cuts were $38.5 million in Halozyme Therapeutics, $37.5 million in Natera and $34.1 million in Illumina. Corcept Therapeutics and Genmab were also reduced, by $20.9 million and $19.3 million, respectively.
These were partial reductions, not complete exits. Halozyme remained the largest holding in the October 16 snapshot at 3.71% of assets, illustrating why a large sale does not necessarily remove a company from a fund’s biggest positions.
A later issuer snapshot provides a separate reference
First Trust’s October 21 portfolio disclosure lists 30 noncash holdings, including 1,338,365 Tarsus shares valued at approximately $94.4 million and weighted at 3.13%. That later snapshot is distinct from the October 16 change data and should not be treated as confirmation of the earlier purchase amount.
First Trust notes that its holdings information reflects creation and redemption transactions from the prior business day and may differ from records available from the fund’s custodian and accounting agent. A holdings snapshot therefore provides portfolio composition, not a trade-by-trade execution record.
FBT is a healthcare equity fund with a reported expense ratio of 0.55%. Its October 16 snapshot placed 35.0% of assets in the ten largest holdings, so the Tarsus addition was one component of a broader biotechnology portfolio.
Conclusion
The October 16 changes centered on establishing Tarsus while trimming several existing holdings. The next available dated reference, First Trust’s October 21 snapshot, shows Tarsus still at a 3.13% weight; it does not establish the reasons for the portfolio changes.
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