FCPM III Services B.V.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), FCPM III Services B.V. reported 10 stock positions worth $762.9 million. Its top holding was Newamsterdam Pharma (NAMS) at 42.3% of the portfolio, followed by Dyne Therapeutics (DYN, 14.0%) and Engene (ENGN, 11.4%). Compared with Q3 2025, it opened 2 new positions, sold out of 1, added to 3 and reduced 2. The biggest buy was a new position in Maplight Therapeutics (MPLT) and the biggest sale Newamsterdam Pharma (NAMS, shares −0%).

Most Recent 13F
Q2 2026
Location
NAARDEN, P7
CIK
0002013410
Portfolio Value
$762.9M (Q4 2025)
SEC Filing
0001193125-26-053151 ↗ filed Feb 17, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $707.3M Q1 2024 Q2 2024: $678.1M Q2 2024 Q3 2024: $582.3M Q3 2024 Q4 2024: $592.4M Q4 2024 Q1 2025: $413.7M Q1 2025 Q2 2025: $369.2M Q2 2025 Q3 2025: $500.4M Q3 2025 Q4 2025: $762.9M $762.9M Q4 2025 Q1 2026: $722.2M Q1 2026 Q2 2026: $750.4M Q2 2026

Holdings 10 stocks · $762.9M
NAMS Newamsterdam Pharma Co. NV 42.30% 9,198,900 $322.7M Reduce -0.1%
DYN Dyne Therapeutics Inc. 14.01% 5,462,846 $106.9M No change
ENGN Engene Holdings Inc. 11.40% 9,632,561 $87.0M No change
RAPT Rapt Therapeutics Inc. 8.14% 1,833,333 $62.1M Add +432.6%
MPLT Maplight Therapeutics Inc. 7.43% 3,226,400 $56.7M New
VOR Vor Biopharma Inc. 6.20% 3,617,354 $47.3M Add +852.8%
REPL Replimune Group Inc. 3.58% 2,808,368 $27.3M Reduce -32.5%
BCYC Bicycle Therapeutics PLC-ADR 3.22% 3,468,430 $24.6M Add +0.5%
CBIO Crescent Biopharma Inc. 2.61% 1,677,852 $19.9M New
ENGENE HOLDINGS INC 1.12% 2,878,148 $8.5M No change

Portfolio Sells Q3 2025 → Q4 2025
NAMS Newamsterdam Pharma Co. NV Reduce -0.1% 42.30% −10.06
ATXS Astria Therapeutics Inc. Sold out 0.00% −5.98
REPL Replimune Group Inc. Reduce -32.5% 3.58% +0.10

Portfolio Buys Q3 2025 → Q4 2025
MPLT Maplight Therapeutics Inc. New 7.43% +7.43
RAPT Rapt Therapeutics Inc. Add +432.6% 8.14% +6.37
CBIO Crescent Biopharma Inc. New 2.61% +2.61
VOR Vor Biopharma Inc. Add +852.8% 6.20% +2.51
BCYC Bicycle Therapeutics PLC-ADR Add +0.5% 3.22% −2.12

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 11$750.4MNAMS, MPLT, DYN, VOR, DMRA
Q1 2026 10$722.2MNAMS, DYN, VOR, ENGN, MPLT
Q4 2025 10$762.9MNAMS, DYN, ENGN, RAPT, MPLT
Q3 2025 9$500.4MNAMS, DYN, ENGN, ATXS, BCYC
Q2 2025 8$369.2MNAMS, DYN, REPL, ENGN, BCYC
Q1 2025 7$413.7MNAMS, DYN, ENGN, REPL, BCYC
Q4 2024 8$592.4MNAMS, DYN, ENGN, BCYC, REPL
Q3 2024 7$582.3MDYN, NAMS, ENGN, REPL, BCYC
Q2 2024 7$678.1MDYN, NAMS, ENGN, REPL, BCYC
Q1 2024 6$707.3MNAMS, DYN, ENGN, REPL, ENGENE HOLDINGS INC