BVF Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), BVF Inc. reported 41 stock positions worth $3.1 billion. Its top holding was Kymera Therapeutics (KYMR) at 14.6% of the portfolio, followed by Moonlake Immunotherapeutics (MLTX, 9.5%) and Revolution Medicines (RVMD, 8.9%). Compared with Q4 2025, it opened 4 new positions, sold out of 4, added to 10 and reduced 11. The biggest buy was Nektar Therapeutics (NKTR, shares +64%) and the biggest sale Structure Therapeutics (GPCR, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- San Francisco, CA
- CIK
- 0001056807
- Portfolio Value
- $3.1B (Q1 2026)
- SEC Filing
- 0000921895-26-001382 ↗ filed May 15, 2026
Holdings Value
Holdings 41 stocks · $3.1B
| KYMR Kymera Therapeutics Inc. | 14.60% | 5,502,710 | $458.3M | No change |
| MLTX Moonlake Immunotherapeutics | 9.50% | 16,001,284 | $298.3M | Reduce -19.0% |
| RVMD Revolution Medicines Inc. | 8.85% | 2,856,782 | $277.8M | Reduce -14.9% |
| NKTR Nektar Therapeutics | 5.87% | 2,559,595 | $184.2M | Add +64.1% |
| GPCR Structure Therapeutics Inc. | 5.31% | 3,459,358 | $166.7M | Reduce -0.6% |
| MIRM Mirum Pharmaceuticals Inc. | 4.66% | 1,584,727 | $146.4M | Add +6.0% |
| GHRS GH Research PLC | 3.87% | 8,650,158 | $121.6M | Reduce -2.0% |
| PVLA Palvella Therapeutics Inc. | 3.82% | 960,989 | $119.8M | Add +9.3% |
| ZYME Zymeworks Inc. | 2.98% | 3,734,142 | $93.5M | Reduce -5.2% |
| XNCR Xencor Inc. | 2.74% | 7,133,720 | $86.0M | No change |
| STOK Stoke Therapeutics Inc. | 2.64% | 2,547,557 | $82.9M | Add +12.4% |
| CGEM Cullinan Therapeutics Inc. | 2.60% | 5,750,683 | $81.7M | No change |
| IRON Disc Medicine Inc. | 2.59% | 1,272,312 | $81.4M | Add +95.7% |
| XOMA Xoma Royalty Corporation | 2.59% | 2,590,303 | $81.3M | No change |
| OLMA Olema Pharmaceuticals Inc. | 2.52% | 5,295,893 | $79.0M | No change |
| TYRA Tyra Biosciences Inc. | 2.41% | 1,976,196 | $75.7M | Reduce -7.1% |
| GLUE Monte Rosa Therapeutics Inc. | 2.34% | 4,460,886 | $73.4M | Add +16.3% |
| ALKS Alkermes PLC | 2.25% | 2,000,000 | $70.7M | New |
| KURA Kura Oncology Inc. | 2.19% | 8,445,769 | $68.7M | Reduce -2.0% |
| ACIU Ac Immune SA | 1.74% | 19,822,436 | $54.5M | No change |
| CBIO Crescent Biopharma Inc. | 1.61% | 2,748,763 | $50.5M | No change |
| ANNX Annexon Inc. | 1.54% | 8,698,173 | $48.2M | Reduce -4.7% |
| CMPX Compass Therapeutics Inc. | 1.31% | 7,764,842 | $41.1M | No change |
| IMCR Immunocore Holdings PLC-ADR | 1.24% | 1,294,463 | $39.0M | Reduce -13.1% |
| SEPN Septerna Inc. | 1.04% | 1,353,249 | $32.5M | Reduce -21.4% |
| STRO Sutro Biopharma Inc. | 0.99% | 1,251,788 | $31.2M | New |
| FHTX Foghorn Therapeutics Inc. | 0.89% | 5,842,000 | $27.9M | Add +10.2% |
| FDMT 4D Molecular Therapeutics Inc. | 0.85% | 2,879,289 | $26.8M | Reduce -37.8% |
| IVVD Invivyd Inc. | 0.81% | 19,525,000 | $25.4M | No change |
| AVTX Avalo Therapeutics Inc. | 0.78% | 1,632,845 | $24.4M | Add +20.5% |
| ELDN Eledon Pharmaceuticals Inc. | 0.62% | 6,293,282 | $19.4M | No change |
| AVR Anteris Technologies Global | 0.53% | 3,000,000 | $16.6M | New |
| XFOR X4 Pharmaceuticals Inc. | 0.29% | 2,233,742 | $9.2M | No change |
| IMUX Immunic Inc. | 0.27% | 7,652,972 | $8.5M | No change |
| OKUR Onkure Therapeutics Inc. Class A | 0.26% | 1,978,972 | $8.2M | New |
| TCRX Tscan Therapeutics Inc. | 0.18% | 5,564,290 | $5.6M | Add +6.5% |
| IMA Imagenebio Inc. | 0.18% | 1,110,002 | $5.6M | Add +38.4% |
| TENX Tenax Therapeutics Inc. | 0.17% | 339,549 | $5.4M | No change |
| MOLN Molecular Partners AG -ADR | 0.17% | 1,353,968 | $5.4M | No change |
| IVA Inventiva SA - ADR | 0.12% | 686,040 | $3.8M | No change |
| ENGENE HOLDINGS INC | 0.08% | 945,402 | $2.5M | No change |
Portfolio Sells Q4 2025 → Q1 2026
| GPCR Structure Therapeutics Inc. | Reduce -0.6% | 5.31% | −2.83 |
| ABVX Abivax SA-ADR | Sold out | 0.00% | −2.31 |
| RPTX Repare Therapeutics Inc. | Sold out | 0.00% | −0.90 |
| KURA Kura Oncology Inc. | Reduce -2.0% | 2.19% | −0.83 |
| SEPN Septerna Inc. | Reduce -21.4% | 1.04% | −0.58 |
| ZYME Zymeworks Inc. | Reduce -5.2% | 2.98% | −0.51 |
| IMCR Immunocore Holdings PLC-ADR | Reduce -13.1% | 1.24% | −0.45 |
| PEPG Pepgen Inc. | Sold out | 0.00% | −0.42 |
| FDMT 4D Molecular Therapeutics Inc. | Reduce -37.8% | 0.85% | −0.31 |
| AXSM Axsome Therapeutics Inc. | Sold out | 0.00% | −0.28 |
| RVMD Revolution Medicines Inc. | Reduce -14.9% | 8.85% | −0.15 |
| ANNX Annexon Inc. | Reduce -4.7% | 1.54% | −0.01 |
| GHRS GH Research PLC | Reduce -2.0% | 3.87% | +0.10 |
| TYRA Tyra Biosciences Inc. | Reduce -7.1% | 2.41% | +0.53 |
| MLTX Moonlake Immunotherapeutics | Reduce -19.0% | 9.50% | +0.74 |
Portfolio Buys Q4 2025 → Q1 2026
| NKTR Nektar Therapeutics | Add +64.1% | 5.87% | +3.65 |
| ALKS Alkermes PLC | New | 2.25% | +2.25 |
| STRO Sutro Biopharma Inc. | New | 0.99% | +0.99 |
| IRON Disc Medicine Inc. | Add +95.7% | 2.59% | +0.85 |
| PVLA Palvella Therapeutics Inc. | Add +9.3% | 3.82% | +0.72 |
| MIRM Mirum Pharmaceuticals Inc. | Add +6.0% | 4.66% | +0.69 |
| AVR Anteris Technologies Global | New | 0.53% | +0.53 |
| GLUE Monte Rosa Therapeutics Inc. | Add +16.3% | 2.34% | +0.31 |
| OKUR Onkure Therapeutics Inc. Class A | New | 0.26% | +0.26 |
| STOK Stoke Therapeutics Inc. | Add +12.4% | 2.64% | +0.22 |
| TCRX Tscan Therapeutics Inc. | Add +6.5% | 0.18% | +0.00 |
| IMA Imagenebio Inc. | Add +38.4% | 0.18% | −0.01 |
| AVTX Avalo Therapeutics Inc. | Add +20.5% | 0.78% | −0.05 |
| FHTX Foghorn Therapeutics Inc. | Add +10.2% | 0.89% | −0.07 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 43 | $3.9B | RVMD, KYMR, XOMA, MLTX, GHRS |
| Q1 2026 | 41 | $3.1B | KYMR, MLTX, RVMD, NKTR, GPCR |
| Q4 2025 | 41 | $3.0B | KYMR, RVMD, MLTX, GPCR, OLMA |
| Q3 2025 | 46 | $2.5B | KYMR, RVMD, PTGX, MLTX, CDTX |
| Q2 2025 | 44 | $2.8B | MLTX, KYMR, RVMD, PTGX, AXSM |
| Q1 2025 | 51 | $2.5B | MLTX, AXSM, RVMD, KYMR, MIRM |
| Q4 2024 | 53 | $3.0B | MLTX, KYMR, RVMD, AXSM, MIRM |
| Q3 2024 | 55 | $3.4B | MLTX, KYMR, RVMD, MIRM, TYRA |
| Q2 2024 | 60 | $3.6B | MLTX, RVMD, KYMR, IONS, MIRM |
| Q1 2024 | 62 | $3.6B | MLTX, KYMR, RVMD, FDMT, GHRS |