4Q25 Wrap: Megacaps surge in 4Q as all boats rise for the year

Biotechs stocks had mixed outcomes in 4Q25, with the biggest companies gaining a median of 10% but the rest posting either small losses or gains. All groups finished the year with double-digit gains.

The megacaps, companies starting 4Q25 at $10 billion or more in market capitalization, were up a median of 10%, adding a total cumulative valuation of $138.4 billion. Those that started 2025 above the $10 billion mark also had the best full-year median performance, at a 32% gain. ...