Sofinnova Investments, Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Sofinnova Investments, Inc. reported 59 stock positions worth $1.3 billion. Its top holding was Natera (NTRA) at 16.5% of the portfolio, followed by Stryker (SYK, 8.4%) and Vera Therapeutics (VERA, 5.1%). Compared with Q4 2024, it opened 15 new positions, sold out of 16, added to 20 and reduced 13. The biggest buy was Stryker (SYK, shares +157%) and the biggest sale an exit from Abbvie (ABBV).
- Most Recent 13F
- Q2 2026
- Location
- Menlo Park, CA
- CIK
- 0001631134
- Portfolio Value
- $1.3B (Q1 2025)
- SEC Filing
- 0001104659-25-049266 ↗ filed May 15, 2025
Holdings Value
Holdings 59 stocks · $1.3B
| NTRA Natera Inc. | 16.53% | 1,550,280 | $219.2M | No change |
| SYK Stryker Corp. | 8.38% | 298,567 | $111.1M | Add +157.4% |
| VERA Vera Therapeutics Inc. | 5.06% | 2,793,987 | $67.1M | No change |
| JAZZ Jazz Pharmaceuticals PLC | 4.78% | 510,050 | $63.3M | Add +1.2% |
| MDT Medtronic PLC | 3.82% | 562,992 | $50.6M | New |
| ALNY Alnylam Pharmaceuticals Inc. | 3.59% | 176,181 | $47.6M | Add +59.9% |
| GILD Gilead Sciences Inc. | 3.54% | 418,900 | $46.9M | Reduce -45.9% |
| LLY Eli Lilly & Co. | 3.29% | 52,800 | $43.6M | Add +267.6% |
| IDYA Ideaya Biosciences Inc. | 3.24% | 2,622,192 | $43.0M | Add +145.3% |
| SLNO Soleno Therapeutics Inc. | 2.61% | 484,471 | $34.6M | Reduce -36.0% |
| AVBP Arrivent Biopharma Inc. | 2.37% | 1,696,752 | $31.4M | No change |
| PTCT PTC Therapeutics Inc. | 2.23% | 579,339 | $29.5M | New |
| SNDX Syndax Pharmaceuticals Inc. | 2.11% | 2,275,223 | $28.0M | Add +245.4% |
| DXCM Dexcom Inc. | 2.04% | 395,975 | $27.0M | Add +36.4% |
| BBIO Bridgebio Pharma Inc. | 1.91% | 734,227 | $25.4M | New |
| REPL Replimune Group Inc. | 1.82% | 2,479,939 | $24.2M | Reduce -21.3% |
| RYTM Rhythm Pharmaceuticals Inc. | 1.78% | 446,839 | $23.7M | Add +12.4% |
| INSM Insmed Inc. | 1.75% | 304,254 | $23.2M | Add +18.7% |
| BPMC Blueprint Medicines Corp. | 1.74% | 261,039 | $23.1M | New |
| BMY Bristol-Myers Squibb Co. | 1.71% | 371,497 | $22.7M | New |
| INCY Incyte Corp. | 1.63% | 357,800 | $21.7M | Reduce -31.8% |
| ANAB Anaptysbio Inc. | 1.63% | 1,160,033 | $21.6M | Add +772.7% |
| SRPT Sarepta Therapeutics Inc. | 1.58% | 327,618 | $20.9M | Reduce -23.6% |
| AKRO Akero Therapeutics Inc. | 1.56% | 510,020 | $20.6M | New |
| AXSM Axsome Therapeutics Inc. | 1.54% | 175,317 | $20.4M | Reduce -64.3% |
| RAPP Rapport Therapeutics Inc. | 1.51% | 1,995,594 | $20.0M | No change |
| SUPN Supernus Pharmaceuticals Inc. | 1.29% | 520,678 | $17.1M | New |
| SVRA Savara Inc. | 1.15% | 5,481,666 | $15.2M | Add +0.2% |
| COGT Cogent Biosciences Inc. | 0.99% | 2,182,121 | $13.1M | Add +165.1% |
| ROIV Roivant Sciences Ltd. | 0.97% | 1,279,510 | $12.9M | New |
| DHR Danaher Corp. | 0.91% | 58,606 | $12.0M | Add +486.1% |
| PEN Penumbra Inc. | 0.87% | 42,936 | $11.5M | New |
| RNAM Avidity Biosciences Inc. | 0.85% | 379,931 | $11.2M | Add +2655.3% |
| INBX Inhibrx Biosciences Inc. | 0.74% | 697,916 | $9.8M | Add +32.4% |
| YMAB Y-Mabs Therapeutics Inc. | 0.73% | 2,194,278 | $9.7M | No change |
| AEROVATE THERAPEUTICS INC | 0.71% | 3,758,686 | $9.4M | No change |
| PHVS Pharvaris NV | 0.70% | 593,403 | $9.3M | Add +5.8% |
| BIOA Bioage Labs Inc. | 0.65% | 2,304,901 | $8.7M | No change |
| RCUS Arcus Biosciences Inc. | 0.61% | 1,037,776 | $8.1M | New |
| EWTX Edgewise Therapeutics Inc. | 0.57% | 342,218 | $7.5M | Reduce -15.0% |
| DYN Dyne Therapeutics Inc. | 0.57% | 716,896 | $7.5M | Reduce -33.1% |
| IMTX Immatics NV | 0.53% | 1,554,304 | $7.0M | Add +352.9% |
| PRAX Praxis Precision Medicines I | 0.45% | 157,640 | $6.0M | New |
| ISRG Intuitive Surgical Inc. | 0.45% | 11,984 | $5.9M | Reduce -68.4% |
| QURE Uniqure NV | 0.44% | 545,771 | $5.8M | New |
| IMNM Immunome Inc. | 0.40% | 788,666 | $5.3M | Add +5.6% |
| KURA Kura Oncology Inc. | 0.39% | 791,667 | $5.2M | New |
| INZY Inozyme Pharma Inc. | 0.29% | 4,280,308 | $3.9M | No change |
| SRRK Scholar Rock Holding Corp. | 0.28% | 116,117 | $3.7M | New |
| ERAS Erasca Inc. | 0.19% | 1,877,085 | $2.6M | Add +4.5% |
| NXTC Nextcure Inc. | 0.10% | 2,671,856 | $1.3M | No change |
| ESTA Establishment Labs Holdings | 0.09% | 28,675 | $1.2M | Reduce -69.9% |
| BOLT Bolt Biotherapeutics Inc. | 0.08% | 2,754,437 | $1.1M | No change |
| MTSR Metsera Inc. | 0.08% | 36,800 | $1.0M | New |
| ELVN Enliven Therapeutics Inc. | 0.05% | 33,547 | $660K | Reduce -1.4% |
| GPCR Structure Therapeutics Inc. | 0.05% | 34,952 | $605K | Add +67.3% |
| VIR Vir Biotechnology Inc. | 0.04% | 83,010 | $538K | Reduce -27.3% |
| IKENA ONCOLOGY INC | 0.04% | 382,616 | $490K | No change |
| IRON Disc Medicine Inc. | 0.03% | 7,485 | $372K | Reduce -67.1% |
Options reported separately and not counted above: QQQ puts ($82.1M), IWM puts ($69.8M), SLNO puts ($37.8M), ACAD calls ($8.3M), EWTX puts ($7.0M).
Portfolio Sells Q4 2024 → Q1 2025
| ABBV Abbvie Inc. | Sold out | 0.00% | −4.68 |
| AZN Astrazeneca PLC-Spons ADR | Sold out | 0.00% | −3.13 |
| BSX Boston Scientific Corp. | Sold out | 0.00% | −2.27 |
| SRPT Sarepta Therapeutics Inc. | Reduce -23.6% | 1.58% | −2.24 |
| ALKS Alkermes PLC | Sold out | 0.00% | −1.89 |
| GILD Gilead Sciences Inc. | Reduce -45.9% | 3.54% | −1.70 |
| AXSM Axsome Therapeutics Inc. | Reduce -64.3% | 1.54% | −1.51 |
| GMED Globus Medical Inc. Class A | Sold out | 0.00% | −1.48 |
| DYN Dyne Therapeutics Inc. | Reduce -33.1% | 0.57% | −1.28 |
| INCY Incyte Corp. | Reduce -31.8% | 1.63% | −1.02 |
| ISRG Intuitive Surgical Inc. | Reduce -68.4% | 0.45% | −1.00 |
| JANX Janux Therapeutics Inc. | Sold out | 0.00% | −0.99 |
| REPL Replimune Group Inc. | Reduce -21.3% | 1.82% | −0.97 |
| NARI Inari Medical Inc. | Sold out | 0.00% | −0.68 |
| ACHV Achieve Life Sciences Inc. | Sold out | 0.00% | −0.34 |
| AVTR Avantor Inc. | Sold out | 0.00% | −0.31 |
| ESTA Establishment Labs Holdings | Reduce -69.9% | 0.09% | −0.23 |
| EWTX Edgewise Therapeutics Inc. | Reduce -15.0% | 0.57% | −0.22 |
| EW Edwards Lifesciences Corp. | Sold out | 0.00% | −0.22 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.21 |
| KROS Keros Therapeutics Inc. | Sold out | 0.00% | −0.11 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −0.08 |
| IRON Disc Medicine Inc. | Reduce -67.1% | 0.03% | −0.08 |
| ICUI Icu Medical Inc. | Sold out | 0.00% | −0.06 |
| TVTX Travere Therapeutics Inc. | Sold out | 0.00% | −0.04 |
| LUNG Pulmonx Corp. | Sold out | 0.00% | −0.03 |
| VIR Vir Biotechnology Inc. | Reduce -27.3% | 0.04% | −0.02 |
| ELVN Enliven Therapeutics Inc. | Reduce -1.4% | 0.05% | −0.01 |
| SLNO Soleno Therapeutics Inc. | Reduce -36.0% | 2.61% | +0.12 |
Portfolio Buys Q4 2024 → Q1 2025
| SYK Stryker Corp. | Add +157.4% | 8.38% | +5.32 |
| MDT Medtronic PLC | New | 3.82% | +3.82 |
| LLY Eli Lilly & Co. | Add +267.6% | 3.29% | +2.48 |
| PTCT PTC Therapeutics Inc. | New | 2.23% | +2.23 |
| BBIO Bridgebio Pharma Inc. | New | 1.91% | +1.91 |
| BPMC Blueprint Medicines Corp. | New | 1.74% | +1.74 |
| BMY Bristol-Myers Squibb Co. | New | 1.71% | +1.71 |
| ALNY Alnylam Pharmaceuticals Inc. | Add +59.9% | 3.59% | +1.69 |
| AKRO Akero Therapeutics Inc. | New | 1.56% | +1.56 |
| ANAB Anaptysbio Inc. | Add +772.7% | 1.63% | +1.50 |
| SNDX Syndax Pharmaceuticals Inc. | Add +245.4% | 2.11% | +1.47 |
| SUPN Supernus Pharmaceuticals Inc. | New | 1.29% | +1.29 |
| IDYA Ideaya Biosciences Inc. | Add +145.3% | 3.24% | +1.23 |
| ROIV Roivant Sciences Ltd. | New | 0.97% | +0.97 |
| PEN Penumbra Inc. | New | 0.87% | +0.87 |
| RNAM Avidity Biosciences Inc. | Add +2655.3% | 0.85% | +0.82 |
| DHR Danaher Corp. | Add +486.1% | 0.91% | +0.74 |
| RCUS Arcus Biosciences Inc. | New | 0.61% | +0.61 |
| COGT Cogent Biosciences Inc. | Add +165.1% | 0.99% | +0.52 |
| INSM Insmed Inc. | Add +18.7% | 1.75% | +0.45 |
| PRAX Praxis Precision Medicines I | New | 0.45% | +0.45 |
| QURE Uniqure NV | New | 0.44% | +0.44 |
| KURA Kura Oncology Inc. | New | 0.39% | +0.39 |
| DXCM Dexcom Inc. | Add +36.4% | 2.04% | +0.39 |
| IMTX Immatics NV | Add +352.9% | 0.53% | +0.35 |
| SRRK Scholar Rock Holding Corp. | New | 0.28% | +0.28 |
| JAZZ Jazz Pharmaceuticals PLC | Add +1.2% | 4.78% | +0.22 |
| RYTM Rhythm Pharmaceuticals Inc. | Add +12.4% | 1.78% | +0.15 |
| INBX Inhibrx Biosciences Inc. | Add +32.4% | 0.74% | +0.14 |
| MTSR Metsera Inc. | New | 0.08% | +0.08 |
| GPCR Structure Therapeutics Inc. | Add +67.3% | 0.05% | +0.00 |
| PHVS Pharvaris NV | Add +5.8% | 0.70% | −0.09 |
| SVRA Savara Inc. | Add +0.2% | 1.15% | −0.09 |
| ERAS Erasca Inc. | Add +4.5% | 0.19% | −0.14 |
| IMNM Immunome Inc. | Add +5.6% | 0.40% | −0.18 |
Options Activity Q4 2024 → Q1 2025
| QQQ Invesco QQQ Trust Series 1 | put | New | 175,000 | $82.1M |
| IWM iShares Russell 2000 ETF | put | New | 350,000 | $69.8M |
| SLNO Soleno Therapeutics Inc. | put | New | 529,300 | $37.8M |
| AXSM Axsome Therapeutics Inc. | call | Sold out | 100,000 | $8.5Mbefore exit |
| ACAD Acadia Pharmaceuticals Inc. | call | New | 500,000 | $8.3M |
| EWTX Edgewise Therapeutics Inc. | put | New | 320,400 | $7.0M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 53 | $1.9B | NTRA, VERA, GMAB, JAZZ, RAPP |
| Q1 2026 | 61 | $2.0B | NTRA, BMY, JAZZ, VERA, UTHR |
| Q4 2025 | 60 | $2.3B | NTRA, JAZZ, AZN, VERA, BMY |
| Q3 2025 | 55 | $1.6B | NTRA, GILD, VERA, UTHR, JAZZ |
| Q2 2025 | 55 | $1.5B | NTRA, GILD, LLY, JAZZ, VERA |
| Q1 2025 | 59 | $1.3B | NTRA, SYK, VERA, JAZZ, MDT |
| Q4 2024 | 60 | $1.4B | NTRA, VERA, GILD, ABBV, JAZZ |
| Q3 2024 | 56 | $1.2B | NTRA, VERA, NVO, AZN, IDYA |
| Q2 2024 | 71 | $1.6B | NTRA, VERA, ASND, NVO, EW |
| Q1 2024Amended | 66 | $1.7B | NTRA, VERA, ASND, AEROVATE THERAPEUTICS INC, MRK |