Bellevue Group AG
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Bellevue Group AG reported 160 stock positions worth $5.2 billion. Its top holding was Argenx SE - ADR (ARGX) at 7.0% of the portfolio, followed by Ionis Pharmaceuticals (IONS, 5.3%) and Neurocrine Biosciences (NBIX, 4.8%). Compared with Q3 2024, it opened 12 new positions, sold out of 14, added to 49 and reduced 69. The biggest buy was Scholar Rock (SRRK, shares +16%) and the biggest sale Caredx (CDNA, shares −56%).
- Most Recent 13F
- Q2 2026
- Location
- ZURICH, V8
- CIK
- 0001674546
- Portfolio Value
- $5.2B (Q4 2024)
- SEC Filing
- 0001104659-25-014056 ↗ filed Feb 14, 2025
Holdings Value
Holdings 160 stocks · $5.2B
| ARGX Argenx SE - ADR | 7.02% | 593,184 | $364.8M | Reduce -6.3% |
| IONS Ionis Pharmaceuticals Inc. | 5.30% | 7,868,700 | $275.1M | Reduce -0.1% |
| NBIX Neurocrine Biosciences Inc. | 4.78% | 1,820,000 | $248.4M | Reduce -2.4% |
| ISRG Intuitive Surgical Inc. | 4.67% | 464,377 | $242.4M | Reduce -6.5% |
| ITCI Intra-Cellular Therapies Inc. | 3.92% | 2,440,240 | $203.8M | Reduce -1.8% |
| VRTX Vertex Pharmaceuticals Inc. | 3.78% | 487,434 | $196.3M | Reduce -14.7% |
| RVMD Revolution Medicines Inc. | 3.69% | 4,386,900 | $191.9M | Reduce -9.9% |
| ABT Abbott Laboratories | 3.68% | 1,688,660 | $191.0M | Reduce -3.2% |
| BSX Boston Scientific Corp. | 3.67% | 2,135,295 | $190.7M | Reduce -12.9% |
| SYK Stryker Corp. | 3.60% | 520,026 | $187.2M | Reduce -1.3% |
| ALNY Alnylam Pharmaceuticals Inc. | 3.49% | 770,268 | $181.3M | Reduce -4.8% |
| INCY Incyte Corp. | 2.87% | 2,157,478 | $149.0M | Add +0.3% |
| AGIO Agios Pharmaceuticals Inc. | 2.22% | 3,515,150 | $115.5M | Reduce -5.9% |
| SRRK Scholar Rock Holding Corp. | 2.09% | 2,510,690 | $108.5M | Add +16.2% |
| PODD Insulet Corp. | 1.62% | 321,917 | $84.0M | Reduce -23.6% |
| MDT Medtronic PLC | 1.60% | 1,042,948 | $83.3M | Add +3.4% |
| EW Edwards Lifesciences Corp. | 1.56% | 1,097,848 | $81.3M | Reduce -3.2% |
| DXCM Dexcom Inc. | 1.56% | 1,045,044 | $81.3M | Add +2.8% |
| UNH Unitedhealth Group Inc. | 1.56% | 159,713 | $80.8M | Reduce -29.2% |
| CLDX Celldex Therapeutics Inc. | 1.49% | 3,071,615 | $77.6M | No change |
| BDX Becton Dickinson and Co. | 1.47% | 337,548 | $76.6M | Reduce -0.0% |
| BHVN Biohaven Ltd. | 1.47% | 2,040,853 | $76.2M | No change |
| MRNA Moderna Inc. | 1.28% | 1,600,877 | $66.6M | Add +0.0% |
| PEN Penumbra Inc. | 1.09% | 238,053 | $56.5M | Reduce -12.7% |
| WVE Wave Life Sciences Ltd. | 0.97% | 4,094,458 | $50.6M | No change |
| ARVN Arvinas Inc. | 0.88% | 2,389,600 | $45.8M | Add +0.1% |
| GEHC GE Healthcare Technology | 0.79% | 524,414 | $41.0M | Reduce -1.4% |
| EXAS Exact Sciences Corp. | 0.75% | 694,056 | $39.0M | Reduce -52.1% |
| EWTX Edgewise Therapeutics Inc. | 0.73% | 1,428,929 | $38.2M | No change |
| BEAM Beam Therapeutics Inc. | 0.72% | 1,518,121 | $37.6M | No change |
| PRCT Procept Biorobotics Corp. | 0.72% | 462,894 | $37.3M | Reduce -24.4% |
| RMD Resmed Inc. | 0.71% | 160,793 | $36.8M | Add +0.4% |
| IMCR Immunocore Holdings PLC-ADR | 0.68% | 1,205,464 | $35.6M | No change |
| LLY Eli Lilly & Co. | 0.68% | 45,465 | $35.1M | Add +2.8% |
| CI The Cigna Group | 0.67% | 125,205 | $34.6M | Add +5.7% |
| ALGN Align Technology Inc. | 0.64% | 160,003 | $33.4M | Add +11.1% |
| COO The Cooper Cos Inc. | 0.63% | 357,130 | $32.8M | Reduce -10.1% |
| MGNX Macrogenics Inc. | 0.62% | 9,929,963 | $32.3M | No change |
| IDXX Idexx Laboratories Inc. | 0.61% | 76,935 | $31.8M | Reduce -15.7% |
| TMO Thermo Fisher Scientific Inc. | 0.61% | 60,962 | $31.7M | Add +13.7% |
| ZBH Zimmer Biomet Holdings Inc. | 0.60% | 293,621 | $31.0M | Reduce -32.2% |
| RLAY Relay Therapeutics Inc. | 0.59% | 7,377,292 | $30.4M | Add +0.0% |
| GMED Globus Medical Inc. Class A | 0.58% | 362,979 | $30.0M | Reduce -22.7% |
| CDNA Caredx Inc. | 0.57% | 1,374,412 | $29.4M | Reduce -56.3% |
| TNDM Tandem Diabetes Care Inc. | 0.54% | 782,456 | $28.2M | Reduce -57.7% |
| DHR Danaher Corp. | 0.53% | 119,922 | $27.5M | Add +13.6% |
| INSP Inspire Medical Systems Inc. | 0.53% | 148,478 | $27.5M | Reduce -23.9% |
| VEEV Veeva Systems Inc. Class A | 0.52% | 127,575 | $26.8M | Reduce -22.0% |
| ANNX Annexon Inc. | 0.51% | 5,157,290 | $26.5M | No change |
| VRNA Verona Pharma Ltd. | 0.51% | 568,955 | $26.4M | Reduce -53.4% |
| MRK Merck & Co. Inc. | 0.51% | 264,226 | $26.3M | Add +525.6% |
| SAGE Sage Therapeutics Inc. | 0.47% | 4,460,693 | $24.2M | No change |
| MOH Molina Healthcare Inc. | 0.46% | 82,151 | $23.9M | Add +21.6% |
| AMGN Amgen Inc. | 0.45% | 89,240 | $23.3M | Add +254.8% |
| NTRA Natera Inc. | 0.44% | 145,676 | $23.1M | Add +5.2% |
| STE Steris PLC | 0.43% | 109,887 | $22.6M | Add +20.4% |
| REGN Regeneron Pharmaceuticals | 0.43% | 31,412 | $22.4M | Add +17.3% |
| ESPR Esperion Therapeutics Inc. | 0.42% | 9,944,064 | $21.9M | No change |
| BMRN Biomarin Pharmaceutical Inc. | 0.42% | 329,021 | $21.6M | Reduce -0.6% |
| BRKR Bruker Corp. | 0.41% | 359,588 | $21.1M | New |
| SRPT Sarepta Therapeutics Inc. | 0.40% | 171,317 | $20.8M | Reduce -50.3% |
| CSTL Castle Biosciences Inc. | 0.38% | 745,982 | $19.9M | Reduce -40.9% |
| PRVA Privia Health Group Inc. | 0.36% | 953,164 | $18.6M | Reduce -10.0% |
| HCA HCA Healthcare Inc. | 0.36% | 61,883 | $18.6M | Reduce -46.0% |
| BDTX Black Diamond Therapeutics I | 0.35% | 8,517,839 | $18.2M | No change |
| HOLX Hologic Inc. | 0.34% | 247,886 | $17.9M | Add +0.0% |
| INSM Insmed Inc. | 0.34% | 258,483 | $17.8M | Reduce -50.8% |
| COR Cencora Inc. | 0.34% | 77,522 | $17.4M | Add +7.6% |
| EHC Encompass Health Corp. | 0.34% | 188,522 | $17.4M | Add +880.2% |
| NEO Neogenomics Inc. | 0.33% | 1,055,796 | $17.4M | Reduce -34.5% |
| ELV Elevance Health Inc. | 0.27% | 38,343 | $14.1M | Reduce -57.1% |
| THC Tenet Healthcare Corp. | 0.27% | 110,230 | $13.9M | Add +1859.6% |
| GPCR Structure Therapeutics Inc. | 0.25% | 485,050 | $13.2M | Reduce -23.0% |
| EVH Evolent Health Inc. Class A | 0.24% | 1,113,658 | $12.5M | Reduce -58.3% |
| SIBN Si-Bone Inc. | 0.24% | 880,979 | $12.4M | Reduce -39.0% |
| TMDX Transmedics Group Inc. | 0.23% | 192,718 | $12.0M | Add +13.5% |
| BIO Bio-Rad Laboratories-A | 0.21% | 33,551 | $11.0M | Reduce -27.3% |
| MCK McKesson Corp. | 0.21% | 19,315 | $11.0M | Reduce -46.0% |
| PHR Phreesia Inc. | 0.20% | 405,693 | $10.2M | Reduce -4.0% |
| AXSM Axsome Therapeutics Inc. | 0.19% | 118,930 | $10.1M | Reduce -67.6% |
| CRL Charles River Laboratories | 0.18% | 50,327 | $9.3M | Reduce -31.2% |
| GKOS Glaukos Corp. | 0.18% | 60,875 | $9.1M | Reduce -3.4% |
| IQV Iqvia Holdings Inc. | 0.17% | 44,833 | $8.8M | Reduce -65.5% |
| ABBV Abbvie Inc. | 0.15% | 45,259 | $8.0M | Add +5.5% |
| FATE Fate Therapeutics Inc. | 0.15% | 4,839,779 | $8.0M | No change |
| JNJ Johnson & Johnson | 0.15% | 54,557 | $7.9M | Add +6.5% |
| HUM Humana Inc. | 0.14% | 28,367 | $7.2M | Reduce -0.3% |
| ALT Altimmune Inc. | 0.13% | 945,446 | $6.8M | Add +9.5% |
| ASTH Astrana Health Inc. | 0.12% | 205,239 | $6.5M | Reduce -19.3% |
| ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD | 0.12% | 34,229 | $6.3M | Reduce -41.7% |
| TERN Terns Pharmaceuticals Inc. | 0.11% | 1,061,753 | $5.9M | Add +1.9% |
| ILMN Illumina Inc. | 0.11% | 43,703 | $5.8M | Reduce -3.3% |
| WAY Waystar Holding Corp. | 0.11% | 157,898 | $5.8M | Add +5.1% |
| LEGN Legend Biotech Corp.-ADR | 0.10% | 167,341 | $5.4M | Reduce -1.1% |
| CNC Centene Corp. | 0.10% | 86,456 | $5.2M | Reduce -0.3% |
| GILD Gilead Sciences Inc. | 0.09% | 48,429 | $4.5M | Add +5.2% |
| OMCL Omnicell Inc. | 0.08% | 94,740 | $4.2M | Reduce -52.1% |
| MASI Masimo Corp. | 0.08% | 24,166 | $4.0M | New |
| TXG 10X Genomics Inc. Class A | 0.07% | 270,728 | $3.9M | Reduce -4.0% |
| PFE Pfizer Inc. | 0.07% | 141,560 | $3.8M | Add +0.3% |
Options reported separately and not counted above: MODERNA INC calls ($110K).
Portfolio Sells Q3 2024 → Q4 2024
| CDNA Caredx Inc. | Reduce -56.3% | 0.57% | −1.02 |
| EVH Evolent Health Inc. Class A | Reduce -58.3% | 0.24% | −0.98 |
| EXAS Exact Sciences Corp. | Reduce -52.1% | 0.75% | −0.85 |
| OPCH Option Care Health Inc. | Sold out | 0.00% | −0.84 |
| EPIX Essa Pharma Inc. | Sold out | 0.00% | −0.77 |
| TNDM Tandem Diabetes Care Inc. | Reduce -57.7% | 0.54% | −0.73 |
| EXEL Exelixis Inc. | Sold out | 0.00% | −0.67 |
| UNH Unitedhealth Group Inc. | Reduce -29.2% | 1.56% | −0.58 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -14.7% | 3.78% | −0.53 |
| ELV Elevance Health Inc. | Reduce -57.1% | 0.27% | −0.48 |
| AGIO Agios Pharmaceuticals Inc. | Reduce -5.9% | 2.22% | −0.47 |
| CRSP Crispr Therapeutics AG | Sold out | 0.00% | −0.46 |
| HCA HCA Healthcare Inc. | Reduce -46.0% | 0.36% | −0.40 |
| AXSM Axsome Therapeutics Inc. | Reduce -67.6% | 0.19% | −0.34 |
| IQV Iqvia Holdings Inc. | Reduce -65.5% | 0.17% | −0.33 |
| SRPT Sarepta Therapeutics Inc. | Reduce -50.3% | 0.40% | −0.30 |
| INSM Insmed Inc. | Reduce -50.8% | 0.34% | −0.28 |
| CSTL Castle Biosciences Inc. | Reduce -40.9% | 0.38% | −0.20 |
| GPCR Structure Therapeutics Inc. | Reduce -23.0% | 0.25% | −0.19 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -32.2% | 0.60% | −0.16 |
| GBIO Generation Bio Co. | Sold out | 0.00% | −0.16 |
| INSP Inspire Medical Systems Inc. | Reduce -23.9% | 0.53% | −0.14 |
| IDXX Idexx Laboratories Inc. | Reduce -15.7% | 0.61% | −0.13 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -4.8% | 3.49% | −0.12 |
| ASTH Astrana Health Inc. | Reduce -19.3% | 0.12% | −0.11 |
| ONC Beone Medicines Ltd.-ADR | Reduce -41.7% | 0.12% | −0.09 |
| SIBN Si-Bone Inc. | Reduce -39.0% | 0.24% | −0.09 |
| COO The Cooper Cos Inc. | Reduce -10.1% | 0.63% | −0.08 |
| PRCT Procept Biorobotics Corp. | Reduce -24.4% | 0.72% | −0.08 |
| MCK McKesson Corp. | Reduce -46.0% | 0.21% | −0.07 |
| VRNA Verona Pharma Ltd. | Reduce -53.4% | 0.51% | −0.06 |
| OMCL Omnicell Inc. | Reduce -52.1% | 0.08% | −0.06 |
| CRL Charles River Laboratories | Reduce -31.2% | 0.18% | −0.05 |
| NEO Neogenomics Inc. | Reduce -34.5% | 0.33% | −0.05 |
| VEEV Veeva Systems Inc. Class A | Reduce -22.0% | 0.52% | −0.04 |
| BIO Bio-Rad Laboratories-A | Reduce -27.3% | 0.21% | −0.04 |
| MTEMQ Molecular Templates Inc. | Sold out | 0.00% | −0.03 |
| LEGN Legend Biotech Corp.-ADR | Reduce -1.1% | 0.10% | −0.03 |
| TXG 10X Genomics Inc. Class A | Reduce -4.0% | 0.07% | −0.03 |
| GEHC GE Healthcare Technology | Reduce -1.4% | 0.79% | −0.02 |
| SNY Sanofi-ADR | Sold out | 0.00% | −0.01 |
| APLS Apellis Pharmaceuticals Inc. | Sold out | 0.00% | −0.01 |
| HCM Hutchmed China-ADR | Sold out | 0.00% | −0.01 |
| HUM Humana Inc. | Reduce -0.3% | 0.14% | −0.01 |
| VTRS Viatris Inc. | Sold out | 0.00% | −0.01 |
| VKTX Viking Therapeutics Inc. | Reduce -20.0% | 0.01% | −0.01 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.01 |
| CNC Centene Corp. | Reduce -0.3% | 0.10% | −0.00 |
| IDYA Ideaya Biosciences Inc. | Sold out | 0.00% | −0.00 |
| CVS CVS Health Corp. | Reduce -1.0% | 0.02% | −0.00 |
Portfolio Buys Q3 2024 → Q4 2024
| SRRK Scholar Rock Holding Corp. | Add +16.2% | 2.09% | +1.81 |
| INCY Incyte Corp. | Add +0.3% | 2.87% | +0.57 |
| DXCM Dexcom Inc. | Add +2.8% | 1.56% | +0.46 |
| MRK Merck & Co. Inc. | Add +525.6% | 0.51% | +0.43 |
| BRKR Bruker Corp. | New | 0.41% | +0.41 |
| AMGN Amgen Inc. | Add +254.8% | 0.45% | +0.32 |
| EHC Encompass Health Corp. | Add +880.2% | 0.34% | +0.30 |
| THC Tenet Healthcare Corp. | Add +1859.6% | 0.27% | +0.25 |
| NTRA Natera Inc. | Add +5.2% | 0.44% | +0.16 |
| MDT Medtronic PLC | Add +3.4% | 1.60% | +0.13 |
| MOH Molina Healthcare Inc. | Add +21.6% | 0.46% | +0.08 |
| MASI Masimo Corp. | New | 0.08% | +0.08 |
| STE Steris PLC | Add +20.4% | 0.43% | +0.08 |
| RMD Resmed Inc. | Add +0.4% | 0.71% | +0.07 |
| TMO Thermo Fisher Scientific Inc. | Add +13.7% | 0.61% | +0.07 |
| COR Cencora Inc. | Add +7.6% | 0.34% | +0.07 |
| SPY SS SPDR S&P 500 ETF Trust-US | New | 0.06% | +0.06 |
| BTSG Brightspring Health Services | New | 0.06% | +0.06 |
| DHR Danaher Corp. | Add +13.6% | 0.53% | +0.05 |
| ALGN Align Technology Inc. | Add +11.1% | 0.64% | +0.05 |
| ALT Altimmune Inc. | Add +9.5% | 0.13% | +0.05 |
| WAY Waystar Holding Corp. | Add +5.1% | 0.11% | +0.04 |
| LLY Eli Lilly & Co. | Add +2.8% | 0.68% | +0.04 |
| SMMT Summit Therapeutics Inc. | Add +166.2% | 0.06% | +0.04 |
| GILD Gilead Sciences Inc. | Add +5.2% | 0.09% | +0.02 |
| ABBV Abbvie Inc. | Add +5.5% | 0.15% | +0.02 |
| JNJ Johnson & Johnson | Add +6.5% | 0.15% | +0.02 |
| GDX Vaneck Gold Miners ETF | New | 0.02% | +0.02 |
| HOLX Hologic Inc. | Add +0.0% | 0.34% | +0.02 |
| ZTS Zoetis Inc. | Add +85.1% | 0.03% | +0.01 |
| RYTM Rhythm Pharmaceuticals Inc. | Add +50.3% | 0.03% | +0.01 |
| BMY Bristol-Myers Squibb Co. | Add +3.5% | 0.04% | +0.01 |
| NAMS Newamsterdam Pharma Co. NV | Add +224.7% | 0.01% | +0.01 |
| PTGX Protagonist Therapeutics Inc. | Add +92.1% | 0.02% | +0.01 |
| QURE Uniqure NV | New | 0.01% | +0.01 |
| ASND Ascendis Pharma A/S | New | 0.01% | +0.01 |
| ZLAB Zai Lab Ltd.-ADR | New | 0.01% | +0.01 |
| PFE Pfizer Inc. | Add +0.3% | 0.07% | +0.01 |
| ROIV Roivant Sciences Ltd. | New | 0.01% | +0.01 |
| AMRX Amneal Pharmaceuticals Inc. | Add +31.4% | 0.02% | +0.01 |
| PTCT PTC Therapeutics Inc. | New | 0.00% | +0.00 |
| OCS Oculis Holding AG | New | 0.00% | +0.00 |
| KNSA Kiniksa Pharmaceuticals Inte | New | 0.00% | +0.00 |
| AZN Astrazeneca PLC-Spons ADR | Add +6.6% | 0.04% | +0.00 |
| KRYS Krystal Biotech Inc. | Add +5.6% | 0.02% | +0.00 |
| CI The Cigna Group | Add +5.7% | 0.67% | +0.00 |
| NVDA Nvidia Corp. | Add +4.9% | 0.00% | +0.00 |
| ORCL Oracle Corp. | Add +4.8% | 0.00% | +0.00 |
| MSFT Microsoft Corp. | Add +4.6% | 0.00% | +0.00 |
| A Agilent Technologies Inc. | Add +4.8% | 0.00% | +0.00 |
Options Activity Q3 2024 → Q4 2024
| SUMMIT THERAPEUTICS INC | call | Sold out | 10,000 | $219Kbefore exit |
| MODERNA INC | call | New | 150 | $110K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 148 | $4.8B | AMGN, VRTX, ARGX, GILD, RVMD |
| Q1 2026 | 155 | $4.2B | VRTX, ARGX, REGN, SRRK, GILD |
| Q4 2025 | 176 | $5.3B | RVMD, ARGX, IONS, VRTX, NBIX |
| Q3 2025 | 148 | $4.8B | IONS, ARGX, RVMD, NBIX, ALNY |
| Q2 2025 | 142 | $4.5B | ARGX, IONS, NBIX, ALNY, ABT |
| Q1 2025 | 148 | $4.5B | ARGX, IONS, SYK, ISRG, ALNY |
| Q4 2024 | 160 | $5.2B | ARGX, IONS, NBIX, ISRG, ITCI |
| Q3 2024 | 162 | $6.2B | ARGX, IONS, VRTX, ISRG, ALNY |
| Q2 2024 | 166 | $6.2B | IONS, ARGX, VRTX, NBIX, ISRG |
| Q1 2024 | 169 | $6.6B | IONS, ARGX, NBIX, VRTX, ISRG |