Overweight Doximity (DOCS) Position Weighs on Fund Performance

Group 1: Voya MidCap Opportunities Fund Overview - Voya MidCap Opportunities Fund's Q4 2025 investor letter highlights solid market gains but relative underperformance against the Russell Mid Cap Growth Index due to unfavorable stock selection [1] - The fund's managers maintain a cautiously constructive outlook, noting geopolitical risks and policy uncertainty, but see potential in broadening market leadership, sustained corporate capital expenditure, and AI-led innovation [1] - The fund's top five holdings are mentioned as key picks for 2025, indicating a focus on active and flexible positioning [1] Group 2: Doximity, Inc. Performance - Doximity, Inc. operates a digital professional network for U.S. healthcare providers, generating revenue through various tools and solutions, with a one-month return of -7.21% and a market capitalization of approximately $7.633 billion [2] - Doximity's stock has traded between $39.95 to $85.21 over the last 52 weeks, closing at around $40.80 on January 22, 2026 [2] - The Voya MidCap Opportunities Fund identified Doximity as a key detractor from performance due to an overweight position, with stock decline following cautious earnings guidance amid healthcare policy changes [3] Group 3: Hedge Fund Interest in Doximity - Doximity is not among the 30 most popular stocks among hedge funds, with 44 hedge fund portfolios holding the stock at the end of Q3, up from 41 in the previous quarter [4] - The investment community acknowledges the risks and potential of Doximity, but some believe other AI stocks may offer better short-term returns [4]