The Vitality Chain
Cat McGee@cat
+2.5%
since Sep 29
The idea
I believe personalized medicine, led by GLP-1 drugs, is making people leaner and healthier but reliant on medication for life, and that reliance creates recurring revenue across prescribers, diagnostics, and pharmacy rails. I think that leaner, more confident population then reshapes downstream spending toward skin and natural appearance, fitness, cleaner eating, and body-forward fashion. The basket spreads across all five links in that chain, weighted heaviest toward the drugmakers and reliance rails as the base, with punchier picks where the confidence shift is already showing up.
What it owns
- Drugs and diagnostics that improve health outcomes drive demand across the entire ecosystem. · Eli LillyIt manufactures Zepbound and Mounjaro, the weight-loss and diabetes medications central to the take's premise of lifelong pharmaceutical reliance., Novo NordiskIt supplies Wegovy and Ozempic, splitting the GLP-1 market with one other major competitor and collecting recurring revenue from long-term users., NateraIt runs DNA-based diagnostic tests that match patients to personalized treatments, making it a pure play on medicine becoming tailored to individual biology., Tempus AIIt uses artificial intelligence on patient data to match individuals to the right treatments, serving as the software layer of personalized medicine.23%
- People on long-term medication create steady, recurring revenue for the pharmacies, insurers, and distributors that keep prescriptions flowing. · Hims & Hers HealthIt dispenses GLP-1 and other chronic medications through telehealth, capturing the direct patient relationship and subscription model of the medication-reliant population., DexcomIt makes continuous glucose monitors that people wear for daily health tracking, embedding reliance on real-time data into the medication and wellness routine., McKessonIt distributes drugs from manufacturers to pharmacies, capturing volume from rising prescription refills across the medication-reliant population., CVS HealthIt fills prescriptions and manages insurance coverage for long-term medications, sitting at the intersection of pharmacy refills and healthcare costs.21%
- Leaner, healthier people invest more in beauty, fitness, and appearance to feel confident in their own skin. · Ulta BeautyIt sells beauty products to people who care more about their natural appearance and want to look polished as they get leaner., e.l.f. BeautyIt makes affordable, natural-looking makeup that appeals to people prioritizing a fresher appearance over heavy cosmetics., Planet FitnessIt operates low-cost gyms where people join as fitness and health consciousness rise alongside medication use and weight loss., EvolusIt manufactures Jeuveau, a competitive injectable for people spending on cosmetic procedures as they become more confident in their appearance.17%
- Healthier eating habits shift spending from processed foods to premium, nutritious options across grocery and beverage categories. · Sprouts Farmers MarketIt operates a grocery chain focused on natural and organic foods, capturing shoppers who shift toward cleaner eating and away from processed items., Celsius HoldingsIt sells sugar-free energy drinks that take market share from sugary beverages as consumers eat and drink more healthfully., Vital FarmsIt sells premium pasture-raised eggs at a higher price point, betting that health-conscious shoppers will pay up for cleaner protein sources., BellRing BrandsIt makes Premier Protein shakes marketed to preserve muscle during weight loss, directly linking the medication and fitness chain to cleaner nutrition.15%
- As people prioritize their bodies, retail brands that emphasize skin, swimwear, and body-conscious styles capture more spending. · American Eagle OutfittersIts Aerie brand emphasizes body-forward swimwear and intimates in advertising, betting that sex appeal and natural skin come back into retail and marketing., Lululemon AthleticaIt designs fitted athleticwear that showcases a toned body, benefiting from the trend toward more body-confident dressing and fitness focus., Revolve GroupIt sells body-conscious fashion and swimwear online to shoppers who want to showcase their bodies and spend on going-out apparel.14%
- Cash10%