Atle Fund Management AB
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 6, 2026), Atle Fund Management AB reported 39 stock positions worth $313.4 million. Its top holding was Eli Lilly (LLY) at 10.7% of the portfolio, followed by Abbvie (ABBV, 7.9%) and Merck (MRK, 6.6%). Compared with Q3 2025, it opened 8 new positions, sold out of 7, added to 17 and reduced 12. The biggest buy was a new position in CVS Health (CVS) and the biggest sale an exit from Edwards Lifesciences (EW).
- Most Recent 13F
- Q2 2026
- Location
- STOCKHOLM, V7
- CIK
- 0001381843
- Portfolio Value
- $313.4M (Q4 2025)
- SEC Filing
- 0001381843-26-000002 ↗ filed Feb 6, 2026
Holdings Value
Holdings 39 stocks · $313.4M
| LLY Eli Lilly & Co. | 10.67% | 31,133 | $33.5M | Reduce -16.4% |
| ABBV Abbvie Inc. | 7.89% | 108,181 | $24.7M | Add +17.4% |
| MRK Merck & Co. Inc. | 6.57% | 195,768 | $20.6M | Add +21.7% |
| TMO Thermo Fisher Scientific Inc. | 5.53% | 29,915 | $17.3M | Add +10.2% |
| NBIX Neurocrine Biosciences Inc. | 4.29% | 94,796 | $13.4M | Reduce -7.6% |
| ISRG Intuitive Surgical Inc. | 4.03% | 22,322 | $12.6M | Add +13.3% |
| ONC Beone Medicines Ltd.-ADR | 3.92% | 40,432 | $12.3M | Add +33.3% |
| BBIO Bridgebio Pharma Inc. | 3.45% | 141,296 | $10.8M | Reduce -19.1% |
| VRTX Vertex Pharmaceuticals Inc. | 3.32% | 22,984 | $10.4M | Add +29.4% |
| BSX Boston Scientific Corp. | 3.31% | 108,682 | $10.4M | Add +25.4% |
| SYK Stryker Corp. | 3.01% | 26,835 | $9.4M | Add +17.9% |
| CVS CVS Health Corp. | 2.70% | 106,518 | $8.5M | New |
| KRYS Krystal Biotech Inc. | 2.66% | 33,853 | $8.3M | Reduce -19.8% |
| COR Cencora Inc. | 2.56% | 23,773 | $8.0M | Reduce -16.9% |
| IONS Ionis Pharmaceuticals Inc. | 2.33% | 92,377 | $7.3M | New |
| RVMD Revolution Medicines Inc. | 2.29% | 90,184 | $7.2M | Add +5.7% |
| AMGN Amgen Inc. | 2.29% | 21,903 | $7.2M | Add +58.6% |
| MIRM Mirum Pharmaceuticals Inc. | 2.26% | 89,685 | $7.1M | Reduce -4.2% |
| INCY Incyte Corp. | 2.23% | 70,851 | $7.0M | New |
| NAMS Newamsterdam Pharma Co. NV | 2.21% | 197,036 | $6.9M | Add +1.8% |
| ALKS Alkermes PLC | 2.16% | 242,473 | $6.8M | Reduce -4.1% |
| IRTC Irhythm Holdings Inc. | 2.13% | 37,579 | $6.7M | Add +25.3% |
| GILD Gilead Sciences Inc. | 1.99% | 50,796 | $6.2M | Reduce -35.0% |
| UFPT Ufp Technologies Inc. | 1.63% | 22,986 | $5.1M | No change |
| INSM Insmed Inc. | 1.55% | 27,873 | $4.9M | New |
| CAH Cardinal Health Inc. | 1.54% | 23,470 | $4.8M | Reduce -22.5% |
| ABVX Abivax SA-ADR | 1.36% | 31,590 | $4.3M | New |
| CELC Celcuity Inc. | 1.33% | 41,831 | $4.2M | Add +12.6% |
| IRON Disc Medicine Inc. | 1.22% | 47,967 | $3.8M | Add +5.0% |
| IDYA Ideaya Biosciences Inc. | 1.07% | 97,438 | $3.4M | New |
| UNH Unitedhealth Group Inc. | 1.02% | 14,636 | $3.2M | Add +6.6% |
| CMPX Compass Therapeutics Inc. | 1.00% | 584,332 | $3.1M | New |
| SLNO Soleno Therapeutics Inc. | 0.93% | 62,735 | $2.9M | Add +4.3% |
| ACLX Arcellx Inc. | 0.87% | 41,717 | $2.7M | Add +62.1% |
| DXCM Dexcom Inc. | 0.84% | 39,722 | $2.6M | Reduce -21.9% |
| AUTL Autolus Therapeutics PLC | 0.74% | 1,169,634 | $2.3M | No change |
| BCAX Bicara Therapeutics Inc. | 0.60% | 111,363 | $1.9M | Reduce -45.3% |
| CRBP Corbus Pharmaceuticals Holdi | 0.28% | 107,255 | $873K | Reduce -38.9% |
| PYXS Pyxis Oncology Inc. | 0.23% | 617,245 | $710K | New |
Portfolio Sells Q3 2025 → Q4 2025
| EW Edwards Lifesciences Corp. | Sold out | 0.00% | −2.01 |
| MRUS Merus NV | Sold out | 0.00% | −1.78 |
| GILD Gilead Sciences Inc. | Reduce -35.0% | 1.99% | −1.43 |
| NBIX Neurocrine Biosciences Inc. | Reduce -7.6% | 4.29% | −1.38 |
| HRMY Harmony Biosciences Holdings | Sold out | 0.00% | −1.00 |
| COR Cencora Inc. | Reduce -16.9% | 2.56% | −0.96 |
| RNAM Avidity Biosciences Inc. | Sold out | 0.00% | −0.89 |
| ALKS Alkermes PLC | Reduce -4.1% | 2.16% | −0.82 |
| SMMT Summit Therapeutics Inc. | Sold out | 0.00% | −0.75 |
| BCAX Bicara Therapeutics Inc. | Reduce -45.3% | 0.60% | −0.67 |
| MREO Mereo Biopharma Group PL-ADR | Sold out | 0.00% | −0.62 |
| CRBP Corbus Pharmaceuticals Holdi | Reduce -38.9% | 0.28% | −0.60 |
| LLY Eli Lilly & Co. | Reduce -16.4% | 10.67% | −0.51 |
| DXCM Dexcom Inc. | Reduce -21.9% | 0.84% | −0.51 |
| JANX Janux Therapeutics Inc. | Sold out | 0.00% | −0.48 |
| MIRM Mirum Pharmaceuticals Inc. | Reduce -4.2% | 2.26% | −0.44 |
| CAH Cardinal Health Inc. | Reduce -22.5% | 1.54% | −0.33 |
| KRYS Krystal Biotech Inc. | Reduce -19.8% | 2.66% | −0.27 |
| BBIO Bridgebio Pharma Inc. | Reduce -19.1% | 3.45% | −0.12 |
Portfolio Buys Q3 2025 → Q4 2025
| CVS CVS Health Corp. | New | 2.70% | +2.70 |
| IONS Ionis Pharmaceuticals Inc. | New | 2.33% | +2.33 |
| INCY Incyte Corp. | New | 2.23% | +2.23 |
| INSM Insmed Inc. | New | 1.55% | +1.55 |
| ABVX Abivax SA-ADR | New | 1.36% | +1.36 |
| MRK Merck & Co. Inc. | Add +21.7% | 6.57% | +1.26 |
| IDYA Ideaya Biosciences Inc. | New | 1.07% | +1.07 |
| CMPX Compass Therapeutics Inc. | New | 1.00% | +1.00 |
| AMGN Amgen Inc. | Add +58.6% | 2.29% | +0.75 |
| RVMD Revolution Medicines Inc. | Add +5.7% | 2.29% | +0.72 |
| CELC Celcuity Inc. | Add +12.6% | 1.33% | +0.61 |
| VRTX Vertex Pharmaceuticals Inc. | Add +29.4% | 3.32% | +0.59 |
| ISRG Intuitive Surgical Inc. | Add +13.3% | 4.03% | +0.56 |
| TMO Thermo Fisher Scientific Inc. | Add +10.2% | 5.53% | +0.35 |
| PYXS Pyxis Oncology Inc. | New | 0.23% | +0.23 |
| IRTC Irhythm Holdings Inc. | Add +25.3% | 2.13% | +0.10 |
| NAMS Newamsterdam Pharma Co. NV | Add +1.8% | 2.21% | +0.04 |
| ACLX Arcellx Inc. | Add +62.1% | 0.87% | +0.04 |
| IRON Disc Medicine Inc. | Add +5.0% | 1.22% | +0.03 |
| BSX Boston Scientific Corp. | Add +25.4% | 3.31% | −0.03 |
| UNH Unitedhealth Group Inc. | Add +6.6% | 1.02% | −0.09 |
| ONC Beone Medicines Ltd.-ADR | Add +33.3% | 3.92% | −0.15 |
| SYK Stryker Corp. | Add +17.9% | 3.01% | −0.30 |
| ABBV Abbvie Inc. | Add +17.4% | 7.89% | −0.51 |
| SLNO Soleno Therapeutics Inc. | Add +4.3% | 0.93% | −0.67 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 39 | $371.7M | LLY, MRK, JNJ, ABBV, CVS |
| Q1 2026 | 39 | $309.7M | LLY, MRK, TMO, ONC, JNJ |
| Q4 2025 | 39 | $313.4M | LLY, ABBV, MRK, TMO, NBIX |
| Q3 2025 | 38 | $27.0M | LLY, ABBV, NBIX, MRK, TMO |
| Q2 2025 | 37 | $233.7M | LLY, ABBV, BSX, NBIX, MRK |
| Q1 2025 | 37 | $226.5M | LLY, ABBV, UNH, BSX, MRK |
| Q4 2024 | 36 | $210.8M | LLY, UNH, ABBV, BSX, TMO |
| Q3 2024 | 36 | $212.8M | LLY, UNH, MRK, TMO, AMGN |
| Q2 2024 | 38 | $164.0M | LLY, UNH, MRK, TMO, AMGN |
| Q1 2024 | 44 | $164.4M | MRK, LLY, UNH, TMO, NBIX |