Bellevue Group AG

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Bellevue Group AG reported 148 stock positions worth $4.8 billion. Its top holding was Amgen (AMGN) at 6.5% of the portfolio, followed by Vertex Pharmaceuticals (VRTX, 6.0%) and Argenx SE - ADR (ARGX, 5.9%). Compared with Q1 2026, it opened 17 new positions, sold out of 24, added to 41 and reduced 66. The biggest buy was Amgen (AMGN, shares +188%) and the biggest sale Regeneron Pharmaceuticals (REGN, shares −44%).

Most Recent 13F
Q2 2026
Location
ZURICH, V8
CIK
0001674546
Portfolio Value
$4.8B (Q2 2026)
SEC Filing
0001104659-26-096739 ↗ filed Aug 14, 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 Q1 2026 Q2 2026: $4.8B $4.8B Q2 2026

Holdings 148 stocks · $4.8B
AMGN Amgen Inc. 6.49% 851,550 $308.4M Add +188.3%
VRTX Vertex Pharmaceuticals Inc. 6.05% 578,634 $287.4M Reduce -15.1%
ARGX Argenx SE - ADR 5.88% 301,000 $279.3M Reduce -3.8%
GILD Gilead Sciences Inc. 5.74% 2,158,772 $272.7M Add +84.5%
RVMD Revolution Medicines Inc. 4.13% 1,048,014 $196.3M Reduce -32.1%
ORKA Oruka Therapeutics Inc. 3.32% 1,657,190 $157.7M Add +226.9%
INSM Insmed Inc. 3.13% 1,393,418 $148.6M Add +13787.0%
SRRK Scholar Rock Holding Corp. 2.83% 2,449,547 $134.7M Reduce -31.7%
NUVL Nuvalent Inc. Class A 2.74% 1,053,268 $130.1M No change
VRDN Viridian Therapeutics Inc. 2.60% 6,731,909 $123.7M Add +0.1%
RLAY Relay Therapeutics Inc. 2.44% 6,185,970 $115.7M Reduce -20.6%
PCVX Vaxcyte Inc. 2.41% 1,971,935 $114.6M Add +65.6%
UTHR United Therapeutics Corp. 2.15% 188,515 $102.1M Add +8976.3%
ISRG Intuitive Surgical Inc. 2.13% 254,809 $101.3M Reduce -11.1%
REGN Regeneron Pharmaceuticals 2.06% 157,291 $98.1M Reduce -43.6%
CRNX Crinetics Pharmaceuticals Inc. 2.06% 2,620,000 $98.0M Reduce -20.1%
BBIO Bridgebio Pharma Inc. 1.86% 1,189,506 $88.6M Add +4587.3%
IMCR Immunocore Holdings PLC-ADR 1.86% 2,788,245 $88.5M Reduce -0.3%
ABT Abbott Laboratories 1.81% 947,115 $85.9M Reduce -17.8%
SYK Stryker Corp. 1.78% 268,461 $84.5M Add +23.6%
MDT Medtronic PLC 1.64% 994,233 $77.8M Add +3.9%
IONS Ionis Pharmaceuticals Inc. 1.62% 972,258 $77.1M Reduce -46.5%
ELVN Enliven Therapeutics Inc. 1.59% 1,490,000 $75.6M Reduce -35.8%
VERA Vera Therapeutics Inc. 1.54% 1,710,808 $73.4M Add +0.0%
JBIO Jade Biosciences Inc. 1.43% 3,057,996 $67.9M Reduce -12.7%
EW Edwards Lifesciences Corp. 1.41% 739,234 $66.9M Reduce -11.9%
RARE Ultragenyx Pharmaceutical Inc. 1.39% 1,982,775 $66.2M Reduce -16.7%
UNH Unitedhealth Group Inc. 1.30% 149,127 $62.0M Add +0.6%
DXCM Dexcom Inc. 1.17% 822,489 $55.4M Add +4.3%
CLDX Celldex Therapeutics Inc. 0.94% 1,200,000 $44.7M No change
AVLN Avalyn Pharma Inc. 0.94% 1,350,000 $44.4M New
DMRA Damora Therapeutics Inc. 0.89% 1,618,846 $42.1M Reduce -29.6%
IRON Disc Medicine Inc. 0.86% 560,000 $41.0M Add +21.9%
TMO Thermo Fisher Scientific Inc. 0.84% 79,816 $40.0M Add +23.9%
BSX Boston Scientific Corp. 0.80% 887,650 $37.9M Reduce -39.5%
LLY Eli Lilly & Co. 0.75% 29,882 $35.8M Reduce -11.9%
CGON CG Oncology Inc. 0.74% 493,596 $35.1M New
IDXX Idexx Laboratories Inc. 0.68% 61,780 $32.5M Reduce -30.7%
RMD Resmed Inc. 0.61% 148,195 $28.9M Reduce -7.0%
KRYS Krystal Biotech Inc. 0.61% 77,530 $28.8M Reduce -83.9%
GLUE Monte Rosa Therapeutics Inc. 0.61% 1,190,000 $28.8M Reduce -4.8%
DHR Danaher Corp. 0.58% 143,844 $27.4M Reduce -28.9%
JNJ Johnson & Johnson 0.55% 103,280 $26.2M Reduce -13.3%
SPTX Seaport Therapeutics Inc. 0.50% 1,100,000 $23.9M New
PVLA Palvella Therapeutics Inc. 0.50% 155,000 $23.7M New
ALGN Align Technology Inc. 0.50% 139,680 $23.6M No change
ANNX Annexon Inc. 0.49% 4,100,016 $23.4M Reduce -20.5%
HUM Humana Inc. 0.49% 58,398 $23.2M Reduce -9.5%
ELV Elevance Health Inc. 0.46% 56,449 $21.8M Add +7.5%
TNGX Tango Therapeutics Inc. 0.46% 694,182 $21.7M Reduce -71.1%
STE Steris PLC 0.44% 99,877 $21.0M Reduce 0.0%
SYRE Spyre Therapeutics Inc. 0.43% 229,931 $20.4M New
COAG Hemab Therapeutics Holdings 0.43% 550,000 $20.2M New
PODD Insulet Corp. 0.41% 127,498 $19.4M Reduce -22.1%
CI The Cigna Group 0.39% 66,500 $18.3M Reduce -32.3%
GKOS Glaukos Corp. 0.38% 128,667 $18.0M Reduce -11.7%
CVS CVS Health Corp. 0.37% 169,366 $17.5M Add +89.5%
BDX Becton Dickinson and Co. 0.35% 109,729 $16.6M Reduce -10.0%
GEHC GE Healthcare Technology 0.34% 252,744 $16.2M Reduce -39.4%
LIVN Livanova PLC 0.34% 195,621 $16.1M Add +5.1%
CNC Centene Corp. 0.31% 228,865 $14.7M Reduce -12.3%
MRK Merck & Co. Inc. 0.31% 113,061 $14.5M Reduce -45.3%
COO The Cooper Cos Inc. 0.30% 197,135 $14.1M Reduce -27.6%
PBLS Parabilis Medicines Inc. 0.29% 500,000 $13.7M New
TEVA Teva Pharmaceutical-SP ADR 0.25% 345,899 $11.7M Add +38.3%
GMED Globus Medical Inc. Class A 0.24% 146,108 $11.5M Reduce -40.9%
PRCT Procept Biorobotics Corp. 0.24% 502,286 $11.3M No change
ZBH Zimmer Biomet Holdings Inc. 0.23% 126,707 $10.9M Reduce -18.6%
VEEV Veeva Systems Inc. Class A 0.22% 59,347 $10.5M Add +5.0%
ABBV Abbvie Inc. 0.21% 40,476 $10.2M Reduce -56.7%
TXG 10X Genomics Inc. Class A 0.21% 261,470 $10.0M Reduce -20.6%
HCA HCA Healthcare Inc. 0.19% 23,750 $9.3M Reduce -37.1%
AURA Aura Biosciences Inc. 0.17% 1,166,667 $8.3M New
MCK McKesson Corp. 0.15% 9,625 $7.3M Reduce -56.9%
THC Tenet Healthcare Corp. 0.15% 38,868 $7.3M Add +1.6%
PTGX Protagonist Therapeutics Inc. 0.14% 55,682 $6.8M Add +285.4%
NTRA Natera Inc. 0.14% 24,806 $6.7M Reduce -21.7%
TMDX Transmedics Group Inc. 0.14% 101,139 $6.7M No change
MOH Molina Healthcare Inc. 0.13% 27,761 $6.3M New
ALKS Alkermes PLC 0.13% 120,243 $6.3M Add +1255.6%
RPRX Royalty Pharma PLC Class A 0.13% 112,311 $6.3M Add +193.3%
WAY Waystar Holding Corp. 0.13% 293,592 $6.0M Add +14.6%
PRVA Privia Health Group Inc. 0.12% 226,703 $5.8M No change
GMRS GMR Solutions Inc. Class A 0.11% 333,333 $5.2M New
NBIX Neurocrine Biosciences Inc. 0.09% 24,037 $4.1M Add +417.4%
OMDA Omada Health Inc. 0.07% 157,938 $3.5M No change
KMTS Kestra Medical Technologies 0.07% 129,215 $3.3M Add +11.8%
MDLN Medline Inc. Class A 0.07% 82,153 $3.2M Reduce -39.9%
ILMN Illumina Inc. 0.07% 18,134 $3.2M Reduce -10.3%
ONC Beone Medicines Ltd.-ADR 0.06% 10,474 $3.0M Add +174.8%
NAMS Newamsterdam Pharma Co. NV 0.06% 86,994 $2.9M Add +214.5%
MDGL Madrigal Pharmaceuticals Inc. 0.05% 4,675 $2.5M Add +53.8%
SPY SS SPDR S&P 500 ETF Trust-US 0.04% 2,700 $2.0M No change
BNTX Biontech SE-ADR 0.04% 21,229 $2.0M Add +1.8%
ADPT Adaptive Biotechnologies 0.04% 89,439 $1.9M Add +17.4%
CYTK Cytokinetics Inc. 0.03% 19,007 $1.6M Add +115.0%
ALMR Alamar Biosciences Inc. 0.03% 55,738 $1.5M New
PHR Phreesia Inc. 0.03% 140,495 $1.4M Add +7.3%
MOBI Mobia Medical Inc. 0.03% 100,000 $1.3M New
BLLN Billiontoone Inc. Class A 0.03% 10,554 $1.3M No change
BBNX Beta Bionics Inc. 0.02% 72,152 $1.1M No change
LEGN Legend Biotech Corp.-ADR 0.02% 33,054 $955K Reduce -7.9%
PFE Pfizer Inc. 0.02% 38,431 $925K Reduce -64.3%
ABVX Abivax SA-ADR 0.02% 6,397 $852K Add +510.4%
EHC Encompass Health Corp. 0.01% 6,951 $703K Reduce -29.3%
AXSM Axsome Therapeutics Inc. 0.01% 2,689 $658K Reduce -15.5%
CERT Certara Inc. 0.01% 99,442 $651K No change
AGMB Agomab Therapeutics NV 0.01% 49,248 $639K Reduce -1.5%
PRAX Praxis Precision Medicines I 0.01% 1,847 $618K Add +5.1%
AAPL Apple Inc. 0.01% 1,768 $541K Reduce -46.8%
GRMN Garmin Ltd. 0.01% 1,976 $469K Add +49.6%
DNLI Denali Therapeutics Inc. 0.01% 17,766 $457K No change
GDX Vaneck Gold Miners ETF 0.01% 5,750 $434K No change
MANE Veradermics Inc. 0.01% 3,468 $426K New
GOOGL Alphabet Inc. Class A 0.01% 907 $396K Add +188.8%
DFTX Definium Therapeutics Inc. 0.01% 8,391 $395K New
TVTX Travere Therapeutics Inc. 0.01% 6,908 $392K Reduce -22.4%
AMZN Amazon.com Inc. 0.01% 1,605 $383K Add +18.6%
HALO Halozyme Therapeutics Inc. 0.01% 4,348 $340K Add +12.7%
ALNY Alnylam Pharmaceuticals Inc. 0.01% 1,092 $329K Reduce -99.5%
CRSP Crispr Therapeutics AG 0.01% 5,818 $317K Add +16.0%
GPCR Structure Therapeutics Inc. 0.01% 4,762 $256K Reduce -30.0%
VTRS Viatris Inc. 0.01% 15,778 $251K New
MLYS Mineralys Therapeutics Inc. 0.01% 8,753 $236K Reduce -70.2%
SMMT Summit Therapeutics Inc. 0.00% 15,279 $223K Reduce -3.6%
CAH Cardinal Health Inc. 0.00% 852 $202K Reduce -1.3%
COGT Cogent Biosciences Inc. 0.00% 4,870 $188K New
TEM Tempus AI Inc. Class A 0.00% 3,213 $186K Reduce -35.1%
COR Cencora Inc. 0.00% 576 $163K Reduce -66.4%
PTCT PTC Therapeutics Inc. 0.00% 1,626 $133K Reduce -16.0%
CAI Caris Life Sciences Inc. 0.00% 6,418 $114K No change
RYTM Rhythm Pharmaceuticals Inc. 0.00% 1,016 $113K No change
ARWR Arrowhead Pharmaceuticals Inc. 0.00% 1,191 $97K Reduce -22.9%
NVDA Nvidia Corp. 0.00% 408 $82K No change
LH Labcorp Holdings Inc. 0.00% 280 $78K No change
BIIB Biogen Inc. 0.00% 338 $73K Reduce -90.8%
BMY Bristol-Myers Squibb Co. 0.00% 1,216 $70K Reduce -92.9%
WAT Waters Corp. 0.00% 179 $67K New
MSFT Microsoft Corp. 0.00% 172 $64K No change
IQV Iqvia Holdings Inc. 0.00% 293 $57K Reduce -60.4%
INCY Incyte Corp. 0.00% 486 $55K No change
MTD Mettler-Toledo International 0.00% 36 $46K No change
A Agilent Technologies Inc. 0.00% 330 $44K Reduce -50.3%
QCOM Qualcomm Inc. 0.00% 197 $36K No change
ZTS Zoetis Inc. 0.00% 390 $28K Reduce -26.8%
ORCL Oracle Corp. 0.00% 191 $28K No change
DGX Quest Diagnostics Inc. 0.00% 131 $28K No change
RXRX Recursion Pharmaceuticals-A 0.00% 4,627 $17K No change

Portfolio Sells Q1 2026 → Q2 2026
REGN Regeneron Pharmaceuticals Reduce -43.6% 2.06% −3.06
KRYS Krystal Biotech Inc. Reduce -83.9% 0.61% −2.36
ALNY Alnylam Pharmaceuticals Inc. Reduce -99.5% 0.01% −1.84
IONS Ionis Pharmaceuticals Inc. Reduce -46.5% 1.62% −1.63
BSX Boston Scientific Corp. Reduce -39.5% 0.80% −1.39
SRRK Scholar Rock Holding Corp. Reduce -31.7% 2.83% −1.36
VRTX Vertex Pharmaceuticals Inc. Reduce -15.1% 6.05% −1.20
EWTX Edgewise Therapeutics Inc. Sold out 0.00% −1.15
ISRG Intuitive Surgical Inc. Reduce -11.1% 2.13% −1.01
ABT Abbott Laboratories Reduce -17.8% 1.81% −1.01
CRNX Crinetics Pharmaceuticals Inc. Reduce -20.1% 2.06% −0.77
TNGX Tango Therapeutics Inc. Reduce -71.1% 0.46% −0.74
ELVN Enliven Therapeutics Inc. Reduce -35.8% 1.59% −0.57
DMRA Damora Therapeutics Inc. Reduce -29.6% 0.89% −0.53
IDXX Idexx Laboratories Inc. Reduce -30.7% 0.68% −0.51
PODD Insulet Corp. Reduce -22.1% 0.41% −0.41
GEHC GE Healthcare Technology Reduce -39.4% 0.34% −0.37
DHR Danaher Corp. Reduce -28.9% 0.58% −0.34
MCK McKesson Corp. Reduce -56.9% 0.15% −0.31
MRK Merck & Co. Inc. Reduce -45.3% 0.31% −0.29
ABBV Abbvie Inc. Reduce -56.7% 0.21% −0.27
GMED Globus Medical Inc. Class A Reduce -40.9% 0.24% −0.26
RMD Resmed Inc. Reduce -7.0% 0.61% −0.24
CI The Cigna Group Reduce -32.3% 0.39% −0.24
HCA HCA Healthcare Inc. Reduce -37.1% 0.19% −0.23
EW Edwards Lifesciences Corp. Reduce -11.9% 1.41% −0.19
ANNX Annexon Inc. Reduce -20.5% 0.49% −0.19
COO The Cooper Cos Inc. Reduce -27.6% 0.30% −0.17
IMCR Immunocore Holdings PLC-ADR Reduce -0.3% 1.86% −0.14
JNJ Johnson & Johnson Reduce -13.3% 0.55% −0.14
INSP Inspire Medical Systems Inc. Sold out 0.00% −0.12
BDX Becton Dickinson and Co. Reduce -10.0% 0.35% −0.11
ZBH Zimmer Biomet Holdings Inc. Reduce -18.6% 0.23% −0.11
PEN Penumbra Inc. Sold out 0.00% −0.10
RNA Atrium Therapeutics Inc. Sold out 0.00% −0.08
STE Steris PLC Reduce 0.0% 0.44% −0.08
MDLN Medline Inc. Class A Reduce -39.9% 0.07% −0.08
PFE Pfizer Inc. Reduce -64.3% 0.02% −0.05
MASI Masimo Corp. Sold out 0.00% −0.04
BMY Bristol-Myers Squibb Co. Reduce -92.9% 0.00% −0.02
EQNR Equinor ASA-Spon ADR Sold out 0.00% −0.02
XOM Exxon Mobil Corp. Sold out 0.00% −0.02
BP BP PLC-Spons ADR Sold out 0.00% −0.02
SHEL Shell PLC-ADR Sold out 0.00% −0.02
CSCO Cisco Systems Inc. Sold out 0.00% −0.01
BIIB Biogen Inc. Reduce -90.8% 0.00% −0.01
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.01
MLYS Mineralys Therapeutics Inc. Reduce -70.2% 0.01% −0.01
PG The Procter & Gamble Co. Sold out 0.00% −0.01
MA Mastercard Inc. Class A Sold out 0.00% −0.01

Portfolio Buys Q1 2026 → Q2 2026
AMGN Amgen Inc. Add +188.3% 6.49% +4.02
INSM Insmed Inc. Add +13787.0% 3.13% +3.09
ORKA Oruka Therapeutics Inc. Add +226.9% 3.32% +2.73
UTHR United Therapeutics Corp. Add +8976.3% 2.15% +2.12
GILD Gilead Sciences Inc. Add +84.5% 5.74% +1.86
BBIO Bridgebio Pharma Inc. Add +4587.3% 1.86% +1.82
AVLN Avalyn Pharma Inc. New 0.94% +0.94
PCVX Vaxcyte Inc. Add +65.6% 2.41% +0.77
CGON CG Oncology Inc. New 0.74% +0.74
SPTX Seaport Therapeutics Inc. New 0.50% +0.50
PVLA Palvella Therapeutics Inc. New 0.50% +0.50
SYRE Spyre Therapeutics Inc. New 0.43% +0.43
COAG Hemab Therapeutics Holdings New 0.43% +0.43
UNH Unitedhealth Group Inc. Add +0.6% 1.30% +0.35
PBLS Parabilis Medicines Inc. New 0.29% +0.29
CVS CVS Health Corp. Add +89.5% 0.37% +0.22
AURA Aura Biosciences Inc. New 0.17% +0.17
IRON Disc Medicine Inc. Add +21.9% 0.86% +0.16
MOH Molina Healthcare Inc. New 0.13% +0.13
ALKS Alkermes PLC Add +1255.6% 0.13% +0.13
GMRS GMR Solutions Inc. Class A New 0.11% +0.11
PTGX Protagonist Therapeutics Inc. Add +285.4% 0.14% +0.11
ELV Elevance Health Inc. Add +7.5% 0.46% +0.09
RPRX Royalty Pharma PLC Class A Add +193.3% 0.13% +0.09
TMO Thermo Fisher Scientific Inc. Add +23.9% 0.84% +0.09
SYK Stryker Corp. Add +23.6% 1.78% +0.08
NBIX Neurocrine Biosciences Inc. Add +417.4% 0.09% +0.07
TEVA Teva Pharmaceutical-SP ADR Add +38.3% 0.25% +0.07
LIVN Livanova PLC Add +5.1% 0.34% +0.06
NAMS Newamsterdam Pharma Co. NV Add +214.5% 0.06% +0.04
ONC Beone Medicines Ltd.-ADR Add +174.8% 0.06% +0.04
ALMR Alamar Biosciences Inc. New 0.03% +0.03
MOBI Mobia Medical Inc. New 0.03% +0.03
CYTK Cytokinetics Inc. Add +115.0% 0.03% +0.02
ABVX Abivax SA-ADR Add +510.4% 0.02% +0.02
ADPT Adaptive Biotechnologies Add +17.4% 0.04% +0.02
MDGL Madrigal Pharmaceuticals Inc. Add +53.8% 0.05% +0.01
KMTS Kestra Medical Technologies Add +11.8% 0.07% +0.01
MANE Veradermics Inc. New 0.01% +0.01
DFTX Definium Therapeutics Inc. New 0.01% +0.01
GOOGL Alphabet Inc. Class A Add +188.8% 0.01% +0.01
VTRS Viatris Inc. New 0.01% +0.01
PHR Phreesia Inc. Add +7.3% 0.03% +0.00
COGT Cogent Biosciences Inc. New 0.00% +0.00
GRMN Garmin Ltd. Add +49.6% 0.01% +0.00
WAT Waters Corp. New 0.00% +0.00
AMZN Amazon.com Inc. Add +18.6% 0.01% +0.00
HALO Halozyme Therapeutics Inc. Add +12.7% 0.01% +0.00
CRSP Crispr Therapeutics AG Add +16.0% 0.01% +0.00
PRAX Praxis Precision Medicines I Add +5.1% 0.01% −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