Top 10 — Health Care — history
Every change to this list, with the reason recorded at the time. 3 rebalances so far.
The Top 10 score is a published weighted sum of percentile ranks, rebalanced on the first trading day of each month. A list is a published formula and its output, not a recommendation. These rows span method versions 1 and 3 and 4 — the formula changed between them, so a score is only comparable within one version.
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Timeline
1 Oct 2026
3 in, 2 out, 7 held
Halozyme (HALO) — Entered 1 Oct 2026: score 66.9, rank 9 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version).
Regeneron Pharmaceuticals (REGN) — Entered 1 Oct 2026: score 67.9, rank 7 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version).
United Therapeutics (UTHR) — Entered 1 Oct 2026: score 68.4, rank 6 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version).
Amgen (AMGN) — Left 1 Oct 2026: score 64.0, rank 16 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15).
CAREDX INC (CDNA) — Left 1 Oct 2026: score 53.1, rank 68 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15).
4 Sep 2026
1 left between rebalances
PROTAGONIST THERAPEUTICS INC (PTGX) — Left 4 Sep 2026: no longer eligible — it is in the most expensive tenth of the field on valuation, so it is ranked as a growth story rather than on fundamentals.
1 Sep 2026
8 in, 8 out, 2 held
AURINIA PHARMACEUTICALS INC (AUPH) — Entered 1 Sep 2026: score 79.4, rank 1 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version).
CAREDX INC (CDNA) — Entered 1 Sep 2026: score 72.3, rank 4 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version).
Exelixis (EXEL) — Entered 1 Sep 2026: score 69.4, rank 6 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version).
HARMONY BIOSCIENCES HLDG INC (HRMY) — Entered 1 Sep 2026: score 72.4, rank 3 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version).
Incyte (INCY) — Entered 1 Sep 2026: score 73.6, rank 2 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version).
KRYSTAL BIOTECH INC (KRYS) — Entered 1 Sep 2026: score 70.4, rank 5 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version).
Medpace (MEDP) — Entered 1 Sep 2026: score 68.2, rank 8 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version).
PROTAGONIST THERAPEUTICS INC (PTGX) — Entered 1 Sep 2026: score 68.1, rank 9 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version).
Bristol Myers Squibb (BMY) — Left 1 Sep 2026: score 63.5, rank 24 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15).
Quest Diagnostics (DGX) — Left 1 Sep 2026: score 60.1, rank 32 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15).
Johnson & Johnson (JNJ) — Left 1 Sep 2026: score 64.8, rank 18 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15).
LIGAND PHARMACEUTICALS INC (LGND) — Left 1 Sep 2026: score 62.0, rank 29 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15).
NATIONAL HEALTHCARE CORP (NHC) — Left 1 Sep 2026: score 61.0, rank 30 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15).
ResMed | (RMD) — Left 1 Sep 2026: score 64.8, rank 19 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15).
Royalty Pharma (RPRX) — Left 1 Sep 2026: score 63.6, rank 23 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15).
West Pharmaceutical Services (WST) — Left 1 Sep 2026: score 57.2, rank 46 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15).
18 Aug 2026
10 in, 0 out, 0 held
Amgen (AMGN) — Entered 18 Aug 2026: first selection for this list at rank 3, score 62.9.
Bristol Myers Squibb (BMY) — Entered 18 Aug 2026: first selection for this list at rank 6, score 59.1.
Quest Diagnostics (DGX) — Entered 18 Aug 2026: first selection for this list at rank 9, score 56.2.
Johnson & Johnson (JNJ) — Entered 18 Aug 2026: first selection for this list at rank 5, score 60.4.
LIGAND PHARMACEUTICALS INC (LGND) — Entered 18 Aug 2026: first selection for this list at rank 4, score 61.7.
Lilly (Eli) (LLY) — Entered 18 Aug 2026: first selection for this list at rank 1, score 66.0.
NATIONAL HEALTHCARE CORP (NHC) — Entered 18 Aug 2026: first selection for this list at rank 7, score 57.8.
ResMed | (RMD) — Entered 18 Aug 2026: first selection for this list at rank 2, score 65.3.
Royalty Pharma (RPRX) — Entered 18 Aug 2026: first selection for this list at rank 8, score 57.2.
West Pharmaceutical Services (WST) — Entered 18 Aug 2026: first selection for this list at rank 10, score 56.2.
Members over time
still in the listleft the list
The ledger
Every row this list has ever written, newest first. Append-only: a sentence recorded here is never rewritten.
| Date | Company | Event | Rank before | Rank after | Score before | Score after | Reason |
|---|---|---|---|---|---|---|---|
| 1 Oct 2026 | Amgen (AMGN) | exit_rank_dropped | — | 16 | 0.0 | 64.0 | Left 1 Oct 2026: score 64.0, rank 16 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15). |
| 1 Oct 2026 | AURINIA PHARMACEUTICALS INC (AUPH) | hold | — | 1 | 0.0 | 79.6 | Held 1 Oct 2026: score 79.6, rank 1 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version). |
| 1 Oct 2026 | CAREDX INC (CDNA) | exit_rank_dropped | — | 68 | 0.0 | 53.1 | Left 1 Oct 2026: score 53.1, rank 68 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15). |
| 1 Oct 2026 | Exelixis (EXEL) | hold | — | 3 | 0.0 | 73.0 | Held 1 Oct 2026: score 73.0, rank 3 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version). |
| 1 Oct 2026 | Halozyme (HALO) | enter_refill | — | 9 | 0.0 | 66.9 | Entered 1 Oct 2026: score 66.9, rank 9 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version). |
| 1 Oct 2026 | HARMONY BIOSCIENCES HLDG INC (HRMY) | hold | — | 4 | 0.0 | 72.0 | Held 1 Oct 2026: score 72.0, rank 4 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version). |
| 1 Oct 2026 | Incyte (INCY) | hold | — | 2 | 0.0 | 75.9 | Held 1 Oct 2026: score 75.9, rank 2 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version). |
| 1 Oct 2026 | KRYSTAL BIOTECH INC (KRYS) | hold | — | 8 | 0.0 | 67.9 | Held 1 Oct 2026: score 67.9, rank 8 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version). |
| 1 Oct 2026 | Lilly (Eli) (LLY) | hold | — | 12 | 0.0 | 66.1 | Held 1 Oct 2026: score 66.1, rank 12 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version). |
| 1 Oct 2026 | Medpace (MEDP) | hold | — | 5 | 0.0 | 70.5 | Held 1 Oct 2026: score 70.5, rank 5 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version). |
| 1 Oct 2026 | Regeneron Pharmaceuticals (REGN) | enter_refill | — | 7 | 0.0 | 67.9 | Entered 1 Oct 2026: score 67.9, rank 7 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version). |
| 1 Oct 2026 | United Therapeutics (UTHR) | enter_refill | — | 6 | 0.0 | 68.4 | Entered 1 Oct 2026: score 68.4, rank 6 (not compared with 1 Sep 2026 — those rows were scored under method version 3, this pass under 4, and the formula changed between them, so a score is only comparable within one version). |
| 4 Sep 2026 | PROTAGONIST THERAPEUTICS INC (PTGX) | exit_ineligible | — | — | 0.0 | 0.0 | Left 4 Sep 2026: no longer eligible — it is in the most expensive tenth of the field on valuation, so it is ranked as a growth story rather than on fundamentals. |
| 1 Sep 2026 | Amgen (AMGN) | hold | — | 13 | 0.0 | 66.8 | Held 1 Sep 2026: score 66.8, rank 13 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version). |
| 1 Sep 2026 | AURINIA PHARMACEUTICALS INC (AUPH) | enter_refill | — | 1 | 0.0 | 79.4 | Entered 1 Sep 2026: score 79.4, rank 1 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version). |
| 1 Sep 2026 | Bristol Myers Squibb (BMY) | exit_rank_dropped | — | 24 | 0.0 | 63.5 | Left 1 Sep 2026: score 63.5, rank 24 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15). |
| 1 Sep 2026 | CAREDX INC (CDNA) | enter_refill | — | 4 | 0.0 | 72.3 | Entered 1 Sep 2026: score 72.3, rank 4 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version). |
| 1 Sep 2026 | Quest Diagnostics (DGX) | exit_rank_dropped | — | 32 | 0.0 | 60.1 | Left 1 Sep 2026: score 60.1, rank 32 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15). |
| 1 Sep 2026 | Exelixis (EXEL) | enter_refill | — | 6 | 0.0 | 69.4 | Entered 1 Sep 2026: score 69.4, rank 6 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version). |
| 1 Sep 2026 | HARMONY BIOSCIENCES HLDG INC (HRMY) | enter_refill | — | 3 | 0.0 | 72.4 | Entered 1 Sep 2026: score 72.4, rank 3 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version). |
| 1 Sep 2026 | Incyte (INCY) | enter_refill | — | 2 | 0.0 | 73.6 | Entered 1 Sep 2026: score 73.6, rank 2 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version). |
| 1 Sep 2026 | Johnson & Johnson (JNJ) | exit_rank_dropped | — | 18 | 0.0 | 64.8 | Left 1 Sep 2026: score 64.8, rank 18 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15). |
| 1 Sep 2026 | KRYSTAL BIOTECH INC (KRYS) | enter_refill | — | 5 | 0.0 | 70.4 | Entered 1 Sep 2026: score 70.4, rank 5 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version). |
| 1 Sep 2026 | LIGAND PHARMACEUTICALS INC (LGND) | exit_rank_dropped | — | 29 | 0.0 | 62.0 | Left 1 Sep 2026: score 62.0, rank 29 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15). |
| 1 Sep 2026 | Lilly (Eli) (LLY) | hold | — | 7 | 0.0 | 69.1 | Held 1 Sep 2026: score 69.1, rank 7 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version). |
| 1 Sep 2026 | Medpace (MEDP) | enter_refill | — | 8 | 0.0 | 68.2 | Entered 1 Sep 2026: score 68.2, rank 8 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version). |
| 1 Sep 2026 | NATIONAL HEALTHCARE CORP (NHC) | exit_rank_dropped | — | 30 | 0.0 | 61.0 | Left 1 Sep 2026: score 61.0, rank 30 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15). |
| 1 Sep 2026 | PROTAGONIST THERAPEUTICS INC (PTGX) | enter_refill | — | 9 | 0.0 | 68.1 | Entered 1 Sep 2026: score 68.1, rank 9 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version). |
| 1 Sep 2026 | ResMed | (RMD) | exit_rank_dropped | — | 19 | 0.0 | 64.8 | Left 1 Sep 2026: score 64.8, rank 19 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15). |
| 1 Sep 2026 | Royalty Pharma (RPRX) | exit_rank_dropped | — | 23 | 0.0 | 63.6 | Left 1 Sep 2026: score 63.6, rank 23 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15). |
| 1 Sep 2026 | West Pharmaceutical Services (WST) | exit_rank_dropped | — | 46 | 0.0 | 57.2 | Left 1 Sep 2026: score 57.2, rank 46 (not compared with 18 Aug 2026 — those rows were scored under method version 1, this pass under 3, and the formula changed between them, so a score is only comparable within one version) (a member leaves above rank 15). |
| 18 Aug 2026 | Amgen (AMGN) | enter_initial | — | 3 | 0.0 | 62.9 | Entered 18 Aug 2026: first selection for this list at rank 3, score 62.9. |
| 18 Aug 2026 | Bristol Myers Squibb (BMY) | enter_initial | — | 6 | 0.0 | 59.1 | Entered 18 Aug 2026: first selection for this list at rank 6, score 59.1. |
| 18 Aug 2026 | Quest Diagnostics (DGX) | enter_initial | — | 9 | 0.0 | 56.2 | Entered 18 Aug 2026: first selection for this list at rank 9, score 56.2. |
| 18 Aug 2026 | Johnson & Johnson (JNJ) | enter_initial | — | 5 | 0.0 | 60.4 | Entered 18 Aug 2026: first selection for this list at rank 5, score 60.4. |
| 18 Aug 2026 | LIGAND PHARMACEUTICALS INC (LGND) | enter_initial | — | 4 | 0.0 | 61.7 | Entered 18 Aug 2026: first selection for this list at rank 4, score 61.7. |
| 18 Aug 2026 | Lilly (Eli) (LLY) | enter_initial | — | 1 | 0.0 | 66.0 | Entered 18 Aug 2026: first selection for this list at rank 1, score 66.0. |
| 18 Aug 2026 | NATIONAL HEALTHCARE CORP (NHC) | enter_initial | — | 7 | 0.0 | 57.8 | Entered 18 Aug 2026: first selection for this list at rank 7, score 57.8. |
| 18 Aug 2026 | ResMed | (RMD) | enter_initial | — | 2 | 0.0 | 65.3 | Entered 18 Aug 2026: first selection for this list at rank 2, score 65.3. |
| 18 Aug 2026 | Royalty Pharma (RPRX) | enter_initial | — | 8 | 0.0 | 57.2 | Entered 18 Aug 2026: first selection for this list at rank 8, score 57.2. |
| 18 Aug 2026 | West Pharmaceutical Services (WST) | enter_initial | — | 10 | 0.0 | 56.2 | Entered 18 Aug 2026: first selection for this list at rank 10, score 56.2. |
Informational only — NOT financial advice.