What happened
According to a filing with the Securities and Exchange Commission dated Aug. 12, 2025, Stevens Capital Management LP completely exited its position in Eli Lilly and Company (LLY -0.70%), by selling all 12,036 shares in Q2 2025.
The estimated transaction value, based on the average price for the quarter ended June 30, 2025, was approximately $9.94 million.
What else to know
The following are the fund's top holdings post-filing at the end of the second quarter:
- Strategy (previously MicroStrategy): $35.09 million (9.5% of AUM)
- CME Group: $20.69 million (5.6% of AUM)
- Apple: $19.38 million (5.3% of AUM)
- Robinhood Markets: $14.36 million (3.9% of AUM)
- Micron Technology: $12.92 million (3.5% of AUM)
Eli Lilly shares were priced at $734.17 as of Aug. 27, 2025; one-year total return was -23.1%, underperforming the S&P 500 by 38.3 percentage points.
Dividend yield: 0.79%; Forward P/E (FY 2025): 32.15; EV/EBITDA (TTM): 35.32; 5-year revenue CAGR: 15.08%.
Company Overview
| Metric | Value |
|---|---|
| Market Capitalization | $658.15 billion |
| Revenue (TTM) | $53.26 billion |
| Net Income (TTM) | $13.80 billion |
| Dividend Yield | 0.79% |
Company Snapshot
- Offers a broad portfolio of pharmaceuticals for diabetes, oncology, immunology, neuroscience, and other therapeutic areas, with key products including Humalog, Trulicity, Verzenio, and Taltz.
- Generates revenue primarily through the development, manufacturing, and global sale of branded prescription drugs, leveraging a pipeline of innovative therapies and strategic collaborations, targeting patients with chronic and acute medical conditions across diverse markets.
- Serves a global customer base including healthcare providers, hospitals, pharmacies, and patients in more than 120 countries.
Eli Lilly and Company is a leading global pharmaceutical firm with a market capitalization of $605.19 billion as of August 12, 2025, and a diverse product lineup addressing major disease categories. The company's strategy emphasizes research-driven innovation and strategic alliances to maintain a robust pipeline and competitive positioning.
Foolish take
Eli Lilly's stock was quite volatile from March to May, making it difficult to determine the precise price at which Stevens Capital closed out its position in Eli Lilly. Still, it's a sale nonetheless, and may reflect the increasing competitiveness in the highly lucrative weight-loss drug market.
Eli Lilly claims that its weight loss drug, Zepbound, provides 47% greater relative weight loss when trialed against Novo Nordisk's Wegovy. As such, it's seen as winning out over its rival in the subcutaneous form.
However, the story doesn't stop there, because the race to launch oral versions of weight loss drugs is in full flow, and Novo Nordisk appears to be heading it. The company's oral version of Wegovy is being reviewed by the Food and Drug Administration (FDA), and a decision is expected in the fourth quarter of 2025.
Meanwhile, Eli Lilly plans to submit its oral weight loss drug, orforglipron, for approval by the end of the year. It's worth noting that Novo Nordisk's oral Wegovy achieved a mean weight loss of 15.1% in a phase 3 trial compared to orforgipron's 12.4% at its highest dosage in a phase 3 trial. Consequently, Novo Nordisk may be about to steal Eli Lilly's thunder in the weight loss drug battle.
Glossary
13F AUM: The total market value of assets reported by an institutional investment manager in quarterly SEC Form 13F filings.
Quarter ended: The last date of a three-month financial reporting period, used to summarize performance or transactions.
Dividend yield: Annual dividends per share divided by the stock price, expressed as a percentage.
Forward P/E: Price-to-earnings ratio using forecasted earnings for the next year, indicating expected valuation.
EV/EBITDA:Enterprise value divided by earnings before interest, taxes, depreciation, and amortization; measures company valuation relative to operating earnings.
TTM:The 12-month period ending with the most recent quarterly report.
CAGR: Compound annual growth rate; the mean annual growth rate of an investment over a specified period, assuming compounding.
Strategic collaborations: Partnerships between companies to jointly develop, market, or distribute products or technologies.
Pipeline: The portfolio of drug candidates a pharmaceutical company is developing, from early research to late-stage trials.
Position value: The total market value of a specific investment holding within a portfolio.
Assets under management (AUM): The total market value of investments managed by a fund or firm on behalf of clients.
Total return: The investment's price change plus all dividends and distributions, assuming those payouts are reinvested.
