Back in October I talked about $XLV ( ▲ 0.42% ) breaking out and some data (you can read that here) from the BofA Fund Manager Survey that pointed to inflows coming into the sector. Part of the new layout for the PDF report is writing more about the Core ideas we are interested in since we took them out of the PDF to make it easier to read and this is the start of it here.

I want to cover one name I like (and took a position in) in this sector in and go over a broad view on this rotation that we should start to see as $XLV ( ▲ 0.42% ) is ready for another breakout here into 2026.