Novo Holdings A/S
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Novo Holdings A/S reported 29 stock positions worth $1.4 billion. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 22.3% of the portfolio, followed by Brookfield (BN, 10.2%) and ASML Holding NV-NY Reg SHS (ASML, 9.4%). Compared with Q1 2025, it opened 3 new positions, sold out of 5, added to 10 and reduced 3. The biggest buy was a new position in Enliven Therapeutics (ELVN) and the biggest sale an exit from Amicus Therapeutics (FOLD).
- Most Recent 13F
- Q2 2026
- Location
- HELLERUP, G7
- CIK
- 0001388325
- Portfolio Value
- $1.4B (Q2 2025)
- SEC Filing
- 0001415889-25-021889 ↗ filed Aug 14, 2025
Holdings Value
Holdings 29 stocks · $1.4B
| VTI VG Morningstar TS MKT ETF-US | 22.28% | 1,038,550 | $315.6M | No change |
| BN Brookfield Corp. | 10.18% | 2,330,830 | $144.2M | No change |
| ASML ASML Holding NV-NY Reg SHS | 9.38% | 165,836 | $132.9M | No change |
| CRM Salesforce Inc. | 6.36% | 330,187 | $90.0M | Add +21.0% |
| MIRM Mirum Pharmaceuticals Inc. | 5.39% | 1,500,055 | $76.3M | Add +0.0% |
| EWTX Edgewise Therapeutics Inc. | 4.95% | 5,350,000 | $70.1M | No change |
| INSM Insmed Inc. | 4.83% | 680,000 | $68.4M | Reduce -6.2% |
| RXRX Recursion Pharmaceuticals-A | 3.45% | 9,665,128 | $48.9M | No change |
| CRNX Crinetics Pharmaceuticals Inc. | 3.15% | 1,550,000 | $44.6M | Add +21.6% |
| BABA Alibaba Group Holding-SP ADR | 2.98% | 372,327 | $42.2M | No change |
| AVBP Arrivent Biopharma Inc. | 2.88% | 1,872,142 | $40.8M | No change |
| MRUS Merus NV | 2.78% | 750,000 | $39.5M | Reduce -5.0% |
| BMRN Biomarin Pharmaceutical Inc. | 2.56% | 660,000 | $36.3M | Add +34.7% |
| BPMC Blueprint Medicines Corp. | 2.40% | 264,956 | $34.0M | Add +15.8% |
| VRDN Viridian Therapeutics Inc. | 2.35% | 2,380,000 | $33.3M | Add +5.8% |
| PHVS Pharvaris NV | 2.14% | 1,725,000 | $30.4M | No change |
| PCVX Vaxcyte Inc. | 2.10% | 916,160 | $29.8M | Add +0.1% |
| CLDX Celldex Therapeutics Inc. | 1.72% | 1,200,000 | $24.4M | No change |
| ZBIO Zenas Biopharma Inc. | 1.54% | 2,250,000 | $21.8M | Add +1.6% |
| ELVN Enliven Therapeutics Inc. | 1.54% | 1,084,432 | $21.8M | New |
| APGE Apogee Therapeutics Inc. | 1.38% | 449,392 | $19.5M | New |
| CBLL Ceribell Inc. | 1.19% | 900,000 | $16.9M | Add +2.3% |
| VALN Valneva SE - ADR | 0.95% | 2,375,000 | $13.5M | New |
| FDMT 4D Molecular Therapeutics Inc. | 0.52% | 2,000,000 | $7.4M | Add +2.6% |
| IOBTQ Io Biotech Inc. | 0.33% | 3,354,449 | $4.7M | No change |
| LANZATECH GLOBAL INC | 0.30% | 15,814,845 | $4.3M | No change |
| MQ Marqeta Inc. | 0.18% | 441,558 | $2.6M | No change |
| ABCL Abcellera Biologics Inc. | 0.16% | 652,529 | $2.2M | Reduce -42.1% |
| DMRA Damora Therapeutics Inc. filed as GALECTO INC | 0.02% | 99,913 | $341K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| FOLD Amicus Therapeutics Inc. | Sold out | 0.00% | −1.71 |
| VERV Verve Therapeutics Inc. | Sold out | 0.00% | −1.04 |
| RCKT Rocket Pharmaceuticals Inc. | Sold out | 0.00% | −0.56 |
| LXEO Lexeo Therapeutics Inc. | Sold out | 0.00% | −0.30 |
| KYTX Kyverna Therapeutics Inc. | Sold out | 0.00% | −0.27 |
| ABCL Abcellera Biologics Inc. | Reduce -42.1% | 0.16% | −0.03 |
| MRUS Merus NV | Reduce -5.0% | 2.78% | +0.26 |
| INSM Insmed Inc. | Reduce -6.2% | 4.83% | +0.63 |
Portfolio Buys Q1 2025 → Q2 2025
| ELVN Enliven Therapeutics Inc. | New | 1.54% | +1.54 |
| APGE Apogee Therapeutics Inc. | New | 1.38% | +1.38 |
| VALN Valneva SE - ADR | New | 0.95% | +0.95 |
| BPMC Blueprint Medicines Corp. | Add +15.8% | 2.40% | +0.86 |
| CRM Salesforce Inc. | Add +21.0% | 6.36% | +0.79 |
| MIRM Mirum Pharmaceuticals Inc. | Add +0.0% | 5.39% | +0.25 |
| ZBIO Zenas Biopharma Inc. | Add +1.6% | 1.54% | +0.21 |
| FDMT 4D Molecular Therapeutics Inc. | Add +2.6% | 0.52% | +0.04 |
| VRDN Viridian Therapeutics Inc. | Add +5.8% | 2.35% | +0.04 |
| BMRN Biomarin Pharmaceutical Inc. | Add +34.7% | 2.56% | −0.07 |
| CBLL Ceribell Inc. | Add +2.3% | 1.19% | −0.10 |
| CRNX Crinetics Pharmaceuticals Inc. | Add +21.6% | 3.15% | −0.11 |
| PCVX Vaxcyte Inc. | Add +0.1% | 2.10% | −0.53 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 25 | $1.7B | EWTX, ASML, COAG, BN, MPLT |
| Q1 2026 | 22 | $1.2B | EWTX, BN, ASML, MIRM, MPLT |
| Q4 2025 | 24 | $1.3B | BN, EWTX, ASML, MIRM, CRM |
| Q3 2025 | 27 | $1.6B | VTI, BN, ASML, MIRM, EWTX |
| Q2 2025 | 29 | $1.4B | VTI, BN, ASML, CRM, MIRM |
| Q1 2025 | 31 | $1.3B | VTI, BN, EWTX, ASML, CRM |
| Q4 2024 | 34 | $1.7B | VTI, BN, TEM, EWTX, ASML |
| Q3 2024 | 37 | $2.0B | VTI, TEM, BN, EWTX, CORT |
| Q2 2024Amended | 38 | $1.9B | VTI, BN, TEM, ASML, CRM |
| Q1 2024 | 35 | $1.4B | ASML, BN, CRM, EPC, CORT |