The fund invests at least 80% of its Managed Assets in U.S. and non-U.S. companies engaged in the healthcare industry including equity and debt securities. The fund's investment objective is to seek current income and long-term capital appreciation. The portfolio is focused on innovation-led healthcare opportunities globally while maintaining exposure to select large-cap pharmaceutical companies to balance risk, and adds to companies where value creation is driven by company-specific execution rather than broader market sentiment.
Cyborg Score Rationale
As of May 6, 2026, the fund had NAV of $12.72 with a small 0.63% premium and 40.4 million common shares outstanding with target monthly distributions of $0.1167 per share. In 2024, THW's revenue was $120.6 million (up 4.42% year-over-year) and earnings were $7.6 million (up 4.11%). The fund benefits from structural healthcare growth drivers and active management of global opportunities, though leverage and distribution strategies require disciplined execution.
Top Insights
Eli Lilly was the single largest equity contributor to performance, now the largest pharmaceutical company by market capitalization driven by anticipated growth of its obesity drug (Zepbound) and diabetes drug (Mounjaro).
The sector benefits from relatively resilient earnings and structural growth drivers including ageing demographics, innovation in GLP-1 therapies, medical technology, diagnostics, rising prevalence of chronic disease, and continued innovation across oncology, rare disease, and neurology.
The adviser fee is 1.00% of managed assets with total annual expenses of 3.00%.
The fund uses a $120 million revolving credit facility as a leverage mechanism.
Named Competitors
abrdn Healthcare Investors — Closed-end healthcare-focused mutual fund
abrdn Life Sciences Investors — Closed-end life sciences and biotech-focused mutual fund
abrdn Healthcare Opportunities Fund — Closed-end healthcare opportunities-focused mutual fund
Recent Developments
(May 2026) Filed $128M shelf registration for common shares, preferred shares, notes and subscription rights
(May 2026) NAV reported at $12.72 with 40.4M common shares outstanding and monthly distributions of $0.1167 per share
(October 2023) abrdn Inc. assumed management responsibility from Tekla Capital Management LLC
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