Bellevue Healthcare (BBH) was launched in late 2016. Paul Major of Bellevue has managed the trust since its inception with Brett Darke joining him in 2017 and they look for companies that can reform the delivery of healthcare services, both to improve patient outcomes and provide better value for money. BBH runs a concentrated portfolio of around 30 to 40 holdings but its tilt towards small- and mid-cap stocks plus a cautious view on the benefits of GLP-1 obesity drugs have resulted in weak returns of late. After trading at a premium in its early years and seeing its share count nearly quadrup...