EQT Fund Management S.a r.l.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), EQT Fund Management S.a r.l. reported 4 stock positions worth $1.1 billion. Its top holding was Waystar (WAY) at 73.3% of the portfolio, followed by Oculis (OCS, 10.6%) and Pharvaris (PHVS, 8.5%). Compared with Q3 2025, it opened 1 new position and sold out of 1. The biggest buy was a new position in Evommune (EVMN) and the biggest sale an exit from Kodiak Gas Services (KGS).