Bellevue Group AG

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Bellevue Group AG reported 155 stock positions worth $4.2 billion. Its top holding was Vertex Pharmaceuticals (VRTX) at 7.2% of the portfolio, followed by Argenx SE - ADR (ARGX, 5.4%) and Regeneron Pharmaceuticals (REGN, 5.1%). Compared with Q4 2025, it opened 19 new positions, sold out of 40, added to 34 and reduced 87. The biggest buy was Regeneron Pharmaceuticals (REGN, shares +1901%) and the biggest sale Neurocrine Biosciences (NBIX, shares −100%).

Most Recent 13F
Q2 2026
Location
ZURICH, V8
CIK
0001674546
Portfolio Value
$4.2B (Q1 2026)
SEC Filing
0001104659-26-061375 ↗ filed May 15, 2026

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $6.6B Q1 2024 Q2 2024: $6.2B Q2 2024 Q3 2024: $6.2B Q3 2024 Q4 2024: $5.2B Q4 2024 Q1 2025: $4.5B Q1 2025 Q2 2025: $4.5B Q2 2025 Q3 2025: $4.8B Q3 2025 Q4 2025: $5.3B Q4 2025 Q1 2026: $4.2B $4.2B Q1 2026 Q2 2026: $4.8B Q2 2026

Holdings 155 stocks · $4.2B

VRTX Vertex Pharmaceuticals Inc. 7.25% 681,908 $304.5M Add +0.1%
ARGX Argenx SE - ADR 5.44% 313,000 $228.6M Reduce -32.2%
REGN Regeneron Pharmaceuticals 5.12% 278,674 $215.3M Add +1900.8%
SRRK Scholar Rock Holding Corp. 4.19% 3,584,573 $176.2M Reduce -11.6%
GILD Gilead Sciences Inc. 3.88% 1,169,879 $163.0M Add +2117.7%
RVMD Revolution Medicines Inc. 3.57% 1,544,456 $150.2M Reduce -69.2%
IONS Ionis Pharmaceuticals Inc. 3.25% 1,818,665 $136.6M Reduce -62.1%
ISRG Intuitive Surgical Inc. 3.14% 286,654 $132.1M Reduce -11.0%
VRDN Viridian Therapeutics Inc. 3.13% 6,726,144 $131.6M Add +54.3%
KRYS Krystal Biotech Inc. 2.96% 481,785 $124.5M Add +17.4%
CRNX Crinetics Pharmaceuticals Inc. 2.84% 3,280,000 $119.1M Add +81088.1%
ABT Abbott Laboratories 2.81% 1,151,635 $118.2M Reduce -12.6%
NUVL Nuvalent Inc. Class A 2.57% 1,053,268 $107.9M Add +1.5%
AMGN Amgen Inc. 2.47% 295,358 $103.9M Add +1497.5%
BSX Boston Scientific Corp. 2.19% 1,466,894 $92.0M Reduce -5.9%
ELVN Enliven Therapeutics Inc. 2.17% 2,320,867 $91.0M New
IMCR Immunocore Holdings PLC-ADR 2.01% 2,796,803 $84.3M No change
MDT Medtronic PLC 1.97% 957,329 $83.0M Add +24.9%
ALNY Alnylam Pharmaceuticals Inc. 1.85% 234,543 $77.6M Reduce -47.4%
RLAY Relay Therapeutics Inc. 1.85% 7,795,242 $77.6M Reduce -6.6%
SYK Stryker Corp. 1.70% 217,237 $71.4M Reduce -39.8%
PCVX Vaxcyte Inc. 1.65% 1,190,697 $69.2M New
VERA Vera Therapeutics Inc. 1.64% 1,710,771 $68.8M Add +0.7%
EW Edwards Lifesciences Corp. 1.60% 839,451 $67.2M Reduce -19.5%
DMRA Damora Therapeutics Inc. 1.42% 2,298,000 $59.5M New
TNGX Tango Therapeutics Inc. 1.19% 2,400,000 $50.2M Reduce -38.9%
IDXX Idexx Laboratories Inc. 1.19% 89,131 $50.1M Reduce -5.7%
RARE Ultragenyx Pharmaceutical Inc. 1.19% 2,380,000 $49.9M Add +92148.1%
DXCM Dexcom Inc. 1.18% 788,766 $49.5M Reduce -6.9%
JBIO Jade Biosciences Inc. 1.17% 3,501,502 $49.2M Add +4.8%
EWTX Edgewise Therapeutics Inc. 1.15% 1,528,518 $48.1M No change
UNH Unitedhealth Group Inc. 0.95% 148,203 $40.1M Reduce -15.4%
DHR Danaher Corp. 0.91% 202,164 $38.3M Add +3.9%
CLDX Celldex Therapeutics Inc. 0.91% 1,200,000 $38.1M Reduce -66.8%
RMD Resmed Inc. 0.85% 159,346 $35.8M Reduce -1.2%
PODD Insulet Corp. 0.82% 163,656 $34.3M Reduce -12.3%
TMO Thermo Fisher Scientific Inc. 0.75% 64,412 $31.7M Reduce -1.0%
LLY Eli Lilly & Co. 0.74% 33,932 $31.2M Reduce -0.2%
GEHC GE Healthcare Technology 0.71% 416,887 $29.7M Reduce -1.8%
IRON Disc Medicine Inc. 0.70% 459,314 $29.4M New
JNJ Johnson & Johnson 0.69% 119,102 $29.1M Reduce -6.1%
ANNX Annexon Inc. 0.68% 5,157,290 $28.6M No change
CI The Cigna Group 0.62% 98,263 $26.2M Reduce -10.7%
ORKA Oruka Therapeutics Inc. 0.59% 507,008 $24.9M New
MRK Merck & Co. Inc. 0.59% 206,591 $24.9M Add +124.3%
ALGN Align Technology Inc. 0.57% 139,680 $23.9M Reduce -1.3%
STE Steris PLC 0.53% 99,878 $22.1M Reduce -1.8%
GMED Globus Medical Inc. Class A 0.51% 247,261 $21.3M Reduce -5.9%
GLUE Monte Rosa Therapeutics Inc. 0.49% 1,250,000 $20.6M New
ABBV Abbvie Inc. 0.48% 93,567 $20.3M Reduce -30.6%
COO The Cooper Cos Inc. 0.46% 272,184 $19.5M Reduce -6.8%
MCK McKesson Corp. 0.46% 22,352 $19.3M Reduce -10.9%
BDX Becton Dickinson and Co. 0.46% 121,887 $19.2M Reduce -54.1%
HCA HCA Healthcare Inc. 0.43% 37,765 $17.9M Reduce -14.0%
GKOS Glaukos Corp. 0.37% 145,703 $15.7M Reduce -44.4%
ELV Elevance Health Inc. 0.37% 52,518 $15.4M Reduce -24.6%
ZBH Zimmer Biomet Holdings Inc. 0.33% 155,571 $14.1M Reduce -34.8%
PRCT Procept Biorobotics Corp. 0.30% 502,286 $12.6M Reduce -2.5%
LIVN Livanova PLC 0.28% 186,185 $11.8M New
HUM Humana Inc. 0.27% 64,498 $11.2M Reduce -11.7%
TMDX Transmedics Group Inc. 0.24% 101,139 $10.1M Add +3.3%
VEEV Veeva Systems Inc. Class A 0.24% 56,517 $9.9M Reduce -29.8%
CNC Centene Corp. 0.20% 261,066 $8.5M Reduce -4.6%
TEVA Teva Pharmaceutical-SP ADR 0.18% 250,082 $7.5M Reduce -23.7%
THC Tenet Healthcare Corp. 0.17% 38,269 $7.2M Reduce -4.9%
TXG 10X Genomics Inc. Class A 0.17% 329,492 $7.0M Add +2.3%
CVS CVS Health Corp. 0.15% 89,363 $6.4M Reduce -18.1%
NTRA Natera Inc. 0.15% 31,694 $6.3M Reduce -43.4%
WAY Waystar Holding Corp. 0.15% 256,139 $6.2M Add +6.0%
MDLN Medline Inc. Class A 0.14% 136,635 $6.1M Add +16.1%
INSP Inspire Medical Systems Inc. 0.12% 99,735 $5.1M Reduce -1.0%
PRVA Privia Health Group Inc. 0.11% 226,703 $4.7M Reduce -49.4%
PEN Penumbra Inc. 0.10% 12,267 $4.0M Reduce -90.9%
RNA Atrium Therapeutics Inc. 0.08% 263,096 $3.5M New
PFE Pfizer Inc. 0.07% 107,635 $3.0M Add +89.3%
ILMN Illumina Inc. 0.06% 20,223 $2.5M Reduce -11.8%
KMTS Kestra Medical Technologies 0.05% 115,590 $2.3M Reduce -0.1%
OMDA Omada Health Inc. 0.05% 157,938 $2.0M Reduce -11.2%
BBIO Bridgebio Pharma Inc. 0.04% 25,377 $1.9M Add +5.3%
BNTX Biontech SE-ADR 0.04% 20,851 $1.9M Reduce -52.4%
RPRX Royalty Pharma PLC Class A 0.04% 38,296 $1.8M Add +190.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.04% 2,700 $1.8M Reduce -12.9%
INSM Insmed Inc. 0.04% 10,034 $1.6M Reduce -27.9%
MDGL Madrigal Pharmaceuticals Inc. 0.04% 3,040 $1.6M Add +5.4%
MASI Masimo Corp. 0.04% 8,753 $1.6M Reduce -91.0%
PTGX Protagonist Therapeutics Inc. 0.04% 14,447 $1.5M Reduce -12.7%
UTHR United Therapeutics Corp. 0.03% 2,077 $1.2M Reduce -46.7%
ONC Beone Medicines Ltd.-ADR 0.03% 3,812 $1.1M Add +101.7%
PHR Phreesia Inc. 0.03% 130,992 $1.1M Reduce -28.5%
ADPT Adaptive Biotechnologies 0.03% 76,181 $1.1M Reduce -74.4%
BMY Bristol-Myers Squibb Co. 0.02% 17,038 $1.0M Reduce -74.6%
EHC Encompass Health Corp. 0.02% 9,829 $951K Reduce -48.5%
NAMS Newamsterdam Pharma Co. NV 0.02% 27,661 $885K Reduce -23.9%
AAPL Apple Inc. 0.02% 3,320 $843K No change
BLLN Billiontoone Inc. Class A 0.02% 10,554 $833K Reduce -0.3%
MLYS Mineralys Therapeutics Inc. 0.02% 29,374 $796K Add +48.2%
EQNR Equinor ASA-Spon ADR 0.02% 17,573 $742K New
XOM Exxon Mobil Corp. 0.02% 4,370 $741K New
BP BP PLC-Spons ADR 0.02% 15,644 $735K New
SHEL Shell PLC-ADR 0.02% 7,844 $729K New
BBNX Beta Bionics Inc. 0.02% 72,152 $723K Reduce -0.2%
BIIB Biogen Inc. 0.02% 3,653 $670K Add +2.5%
LEGN Legend Biotech Corp.-ADR 0.02% 35,886 $649K Reduce -43.9%
CSCO Cisco Systems Inc. 0.01% 8,000 $621K No change
NBIX Neurocrine Biosciences Inc. 0.01% 4,646 $612K Reduce -99.7%
BABA Alibaba Group Holding-SP ADR 0.01% 4,700 $590K No change
CYTK Cytokinetics Inc. 0.01% 8,841 $583K Reduce -4.2%
CERT Certara Inc. 0.01% 99,442 $567K No change
PRAX Praxis Precision Medicines I 0.01% 1,757 $566K New
PG The Procter & Gamble Co. 0.01% 3,900 $563K No change
MA Mastercard Inc. Class A 0.01% 1,100 $550K No change
COR Cencora Inc. 0.01% 1,716 $539K Add +229.4%
AXSM Axsome Therapeutics Inc. 0.01% 3,181 $538K Reduce -88.5%
GDX Vaneck Gold Miners ETF 0.01% 5,750 $528K Reduce -62.9%
AGMB Agomab Therapeutics NV 0.01% 50,000 $525K New
BLK BlackRock Inc. 0.01% 450 $433K No change
V Visa Inc. Class A 0.01% 1,400 $423K No change
CNTA Centessa Pharmaceuticals Ltd. 0.01% 9,030 $359K New
DNLI Denali Therapeutics Inc. 0.01% 17,766 $341K Add +148.9%
GPCR Structure Therapeutics Inc. 0.01% 6,803 $328K Reduce -95.3%
JD Jd.com Inc.-ADR 0.01% 11,000 $325K No change
ALKS Alkermes PLC 0.01% 8,870 $314K Add +34.5%
GRMN Garmin Ltd. 0.01% 1,321 $306K Reduce -23.5%
SMMT Summit Therapeutics Inc. 0.01% 15,858 $301K Add +11.2%
ACN Accenture PLC Class A 0.01% 1,500 $297K No change
ADBE Adobe Inc. 0.01% 1,200 $292K No change
AMZN Amazon.com Inc. 0.01% 1,353 $282K Reduce -61.8%
TVTX Travere Therapeutics Inc. 0.01% 8,899 $264K Add +132.5%
HALO Halozyme Therapeutics Inc. 0.01% 3,857 $249K New
OLMA Olema Pharmaceuticals Inc. 0.01% 16,443 $245K Add +321.4%
CRSP Crispr Therapeutics AG 0.01% 5,016 $239K Add +166.8%
TEM Tempus AI Inc. Class A 0.01% 4,950 $224K Add +3.6%
CAH Cardinal Health Inc. 0.00% 863 $182K Reduce -88.8%
PTCT PTC Therapeutics Inc. 0.00% 1,935 $132K Reduce -71.4%
IQV Iqvia Holdings Inc. 0.00% 740 $126K Reduce -98.2%
ASND Ascendis Pharma A/S 0.00% 536 $123K Reduce -97.8%
ABVX Abivax SA-ADR 0.00% 1,048 $117K New
CAI Caris Life Sciences Inc. 0.00% 6,418 $115K No change
ARWR Arrowhead Pharmaceuticals Inc. 0.00% 1,545 $97K Reduce -86.6%
GOOGL Alphabet Inc. Class A 0.00% 314 $90K Reduce -84.8%
RYTM Rhythm Pharmaceuticals Inc. 0.00% 1,016 $88K Reduce -86.5%
A Agilent Technologies Inc. 0.00% 664 $76K Add +89.7%
LH Labcorp Holdings Inc. 0.00% 280 $75K Reduce -95.1%
NVDA Nvidia Corp. 0.00% 408 $71K Reduce -89.6%
MSFT Microsoft Corp. 0.00% 172 $64K Reduce -86.6%
ZTS Zoetis Inc. 0.00% 533 $63K Reduce -26.9%
BBOT Bridgebio Oncology Therapeut 0.00% 6,982 $62K New
INCY Incyte Corp. 0.00% 486 $46K Reduce -89.8%
MTD Mettler-Toledo International 0.00% 36 $45K Reduce -5.3%
WVE Wave Life Sciences Ltd. 0.00% 5,261 $38K Reduce -99.7%
ORCL Oracle Corp. 0.00% 191 $28K Reduce -5.9%
DGX Quest Diagnostics Inc. 0.00% 131 $26K Reduce -98.2%
QCOM Qualcomm Inc. 0.00% 197 $25K Reduce -5.7%
RXRX Recursion Pharmaceuticals-A 0.00% 4,627 $14K Reduce -6.0%
QGEN Qiagen N.V. 0.00% 243 $10K New

Portfolio Sells Q4 2025 → Q1 2026

NBIX Neurocrine Biosciences Inc. Reduce -99.7% 0.01% −4.56
RVMD Revolution Medicines Inc. Reduce -69.2% 3.57% −3.98
IONS Ionis Pharmaceuticals Inc. Reduce -62.1% 3.25% −3.95
RNAM Avidity Biosciences Inc. Sold out 0.00% −3.60
FOLD Amicus Therapeutics Inc. Sold out 0.00% −2.90
ARGX Argenx SE - ADR Reduce -32.2% 5.44% −1.92
ALNY Alnylam Pharmaceuticals Inc. Reduce -47.4% 1.85% −1.51
CLDX Celldex Therapeutics Inc. Reduce -66.8% 0.91% −0.96
SYK Stryker Corp. Reduce -39.8% 1.70% −0.70
PEN Penumbra Inc. Reduce -90.9% 0.10% −0.70
MAZE Maze Therapeutics Inc. Sold out 0.00% −0.70
BSX Boston Scientific Corp. Reduce -5.9% 2.19% −0.63
BDX Becton Dickinson and Co. Reduce -54.1% 0.46% −0.52
WVE Wave Life Sciences Ltd. Reduce -99.7% 0.00% −0.48
ABT Abbott Laboratories Reduce -12.6% 2.81% −0.31
ISRG Intuitive Surgical Inc. Reduce -11.0% 3.14% −0.31
MASI Masimo Corp. Reduce -91.0% 0.04% −0.20
PODD Insulet Corp. Reduce -12.3% 0.82% −0.19
GKOS Glaukos Corp. Reduce -44.4% 0.37% −0.19
GPCR Structure Therapeutics Inc. Reduce -95.3% 0.01% −0.18
IQV Iqvia Holdings Inc. Reduce -98.2% 0.00% −0.17
CDNA Caredx Inc. Sold out 0.00% −0.15
MOH Molina Healthcare Inc. Sold out 0.00% −0.15
UNH Unitedhealth Group Inc. Reduce -15.4% 0.95% −0.14
VEEV Veeva Systems Inc. Class A Reduce -29.8% 0.24% −0.10
ABBV Abbvie Inc. Reduce -30.6% 0.48% −0.10
ELV Elevance Health Inc. Reduce -24.6% 0.37% −0.10
ASND Ascendis Pharma A/S Reduce -97.8% 0.00% −0.10
NTRA Natera Inc. Reduce -43.4% 0.15% −0.09
PRVA Privia Health Group Inc. Reduce -49.4% 0.11% −0.09
HUM Humana Inc. Reduce -11.7% 0.27% −0.09
EW Edwards Lifesciences Corp. Reduce -19.5% 1.60% −0.09
ICLR Icon PLC Sold out 0.00% −0.08
AXSM Axsome Therapeutics Inc. Reduce -88.5% 0.01% −0.08
BMRN Biomarin Pharmaceutical Inc. Sold out 0.00% −0.07
ZBH Zimmer Biomet Holdings Inc. Reduce -34.8% 0.33% −0.07
ADPT Adaptive Biotechnologies Reduce -74.4% 0.03% −0.07
BTSG Brightspring Health Services Sold out 0.00% −0.07
NEO Neogenomics Inc. Sold out 0.00% −0.06
AVTR Avantor Inc. Sold out 0.00% −0.06
BEAM Beam Therapeutics Inc. Sold out 0.00% −0.06
INSP Inspire Medical Systems Inc. Reduce -1.0% 0.12% −0.05
AZN Astrazeneca PLC-Spons ADR Sold out 0.00% −0.05
VKTX Viking Therapeutics Inc. Sold out 0.00% −0.05
ROIV Roivant Sciences Ltd. Sold out 0.00% −0.04
BMY Bristol-Myers Squibb Co. Reduce -74.6% 0.02% −0.04
BNTX Biontech SE-ADR Reduce -52.4% 0.04% −0.03
BKD Brookdale Senior Living Inc. Sold out 0.00% −0.03
SIBN Si-Bone Inc. Sold out 0.00% −0.03
PHR Phreesia Inc. Reduce -28.5% 0.03% −0.03

Portfolio Buys Q4 2025 → Q1 2026

REGN Regeneron Pharmaceuticals Add +1900.8% 5.12% +4.92
GILD Gilead Sciences Inc. Add +2117.7% 3.88% +3.76
CRNX Crinetics Pharmaceuticals Inc. Add +81088.1% 2.84% +2.83
AMGN Amgen Inc. Add +1497.5% 2.47% +2.36
ELVN Enliven Therapeutics Inc. New 2.17% +2.17
PCVX Vaxcyte Inc. New 1.65% +1.65
DMRA Damora Therapeutics Inc. New 1.42% +1.42
VRTX Vertex Pharmaceuticals Inc. Add +0.1% 7.25% +1.39
RARE Ultragenyx Pharmaceutical Inc. Add +92148.1% 1.19% +1.19
KRYS Krystal Biotech Inc. Add +17.4% 2.96% +1.04
IRON Disc Medicine Inc. New 0.70% +0.70
ORKA Oruka Therapeutics Inc. New 0.59% +0.59
NUVL Nuvalent Inc. Class A Add +1.5% 2.57% +0.59
MDT Medtronic PLC Add +24.9% 1.97% +0.58
VRDN Viridian Therapeutics Inc. Add +54.3% 3.13% +0.56
GLUE Monte Rosa Therapeutics Inc. New 0.49% +0.49
MRK Merck & Co. Inc. Add +124.3% 0.59% +0.41
LIVN Livanova PLC New 0.28% +0.28
JBIO Jade Biosciences Inc. Add +4.8% 1.17% +0.19
RNA Atrium Therapeutics Inc. New 0.08% +0.08
DHR Danaher Corp. Add +3.9% 0.91% +0.07
TXG 10X Genomics Inc. Class A Add +2.3% 0.17% +0.07
MDLN Medline Inc. Class A Add +16.1% 0.14% +0.05
PFE Pfizer Inc. Add +89.3% 0.07% +0.05
RPRX Royalty Pharma PLC Class A Add +190.1% 0.04% +0.03
EQNR Equinor ASA-Spon ADR New 0.02% +0.02
XOM Exxon Mobil Corp. New 0.02% +0.02
BP BP PLC-Spons ADR New 0.02% +0.02
SHEL Shell PLC-ADR New 0.02% +0.02
ONC Beone Medicines Ltd.-ADR Add +101.7% 0.03% +0.02
TMDX Transmedics Group Inc. Add +3.3% 0.24% +0.01
PRAX Praxis Precision Medicines I New 0.01% +0.01
AGMB Agomab Therapeutics NV New 0.01% +0.01
BBIO Bridgebio Pharma Inc. Add +5.3% 0.04% +0.01
COR Cencora Inc. Add +229.4% 0.01% +0.01
CNTA Centessa Pharmaceuticals Ltd. New 0.01% +0.01
VERA Vera Therapeutics Inc. Add +0.7% 1.64% +0.01
MDGL Madrigal Pharmaceuticals Inc. Add +5.4% 0.04% +0.01
DNLI Denali Therapeutics Inc. Add +148.9% 0.01% +0.01
HALO Halozyme Therapeutics Inc. New 0.01% +0.01
MLYS Mineralys Therapeutics Inc. Add +48.2% 0.02% +0.01
BIIB Biogen Inc. Add +2.5% 0.02% +0.00
OLMA Olema Pharmaceuticals Inc. Add +321.4% 0.01% +0.00
ALKS Alkermes PLC Add +34.5% 0.01% +0.00
CRSP Crispr Therapeutics AG Add +166.8% 0.01% +0.00
TVTX Travere Therapeutics Inc. Add +132.5% 0.01% +0.00
ABVX Abivax SA-ADR New 0.00% +0.00
SMMT Summit Therapeutics Inc. Add +11.2% 0.01% +0.00
BBOT Bridgebio Oncology Therapeut New 0.00% +0.00
A Agilent Technologies Inc. Add +89.7% 0.00% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 148$4.8BAMGN, VRTX, ARGX, GILD, RVMD
Q1 2026 155$4.2BVRTX, ARGX, REGN, SRRK, GILD
Q4 2025 176$5.3BRVMD, ARGX, IONS, VRTX, NBIX
Q3 2025 148$4.8BIONS, ARGX, RVMD, NBIX, ALNY
Q2 2025 142$4.5BARGX, IONS, NBIX, ALNY, ABT
Q1 2025 148$4.5BARGX, IONS, SYK, ISRG, ALNY
Q4 2024 160$5.2BARGX, IONS, NBIX, ISRG, ITCI
Q3 2024 162$6.2BARGX, IONS, VRTX, ISRG, ALNY
Q2 2024 166$6.2BIONS, ARGX, VRTX, NBIX, ISRG
Q1 2024 169$6.6BIONS, ARGX, NBIX, VRTX, ISRG