I have further added to my position in Gilead. Gilead is a former growth darling that is now a leper in the growth community. While most of the ownership has changed hands already there are a couple of growth funds still paring down the position. For instance, as of September 30 Janus was able to cut about half its position in the stock, but still had a 20 million share position.
I suspect that the remaining growth funds in the stock want the position off their sheets for the New Year. Gilead was the only stock I follow that traded above average volume yesterday. These funds are selling into a very illiquid market. I am willing to give them the liquidity they are seeking and believe I will be able to sell for higher prices in the New Year.