Sofinnova Investments, Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Sofinnova Investments, Inc. reported 55 stock positions worth $1.5 billion. Its top holding was Natera (NTRA) at 17.8% of the portfolio, followed by Gilead Sciences (GILD, 7.9%) and Eli Lilly (LLY, 5.1%). Compared with Q1 2025, it opened 10 new positions, sold out of 14, added to 18 and reduced 17. The biggest buy was Gilead Sciences (GILD, shares +151%) and the biggest sale an exit from Stryker (SYK).
- Most Recent 13F
- Q2 2026
- Location
- Menlo Park, CA
- CIK
- 0001631134
- Portfolio Value
- $1.5B (Q2 2025)
- SEC Filing
- 0001104659-25-078481 ↗ filed Aug 14, 2025
Holdings Value
Holdings 55 stocks · $1.5B
| NTRA Natera Inc. | 17.82% | 1,550,280 | $261.9M | No change |
| GILD Gilead Sciences Inc. | 7.92% | 1,050,308 | $116.4M | Add +150.7% |
| LLY Eli Lilly & Co. | 5.15% | 97,018 | $75.6M | Add +83.8% |
| JAZZ Jazz Pharmaceuticals PLC | 5.01% | 694,096 | $73.7M | Add +36.1% |
| VERA Vera Therapeutics Inc. | 4.48% | 2,793,987 | $65.8M | No change |
| ABBV Abbvie Inc. | 3.36% | 265,850 | $49.3M | New |
| BSX Boston Scientific Corp. | 3.15% | 431,200 | $46.3M | New |
| DXCM Dexcom Inc. | 3.11% | 523,694 | $45.7M | Add +32.3% |
| IDYA Ideaya Biosciences Inc. | 3.07% | 2,147,795 | $45.1M | Reduce -18.1% |
| BBIO Bridgebio Pharma Inc. | 2.92% | 993,093 | $42.9M | Add +35.3% |
| ISRG Intuitive Surgical Inc. | 2.61% | 70,642 | $38.4M | Add +489.5% |
| RYTM Rhythm Pharmaceuticals Inc. | 2.52% | 586,010 | $37.0M | Add +31.1% |
| AVBP Arrivent Biopharma Inc. | 2.51% | 1,696,752 | $36.9M | No change |
| ROIV Roivant Sciences Ltd. | 2.37% | 3,088,814 | $34.8M | Add +141.4% |
| SLNO Soleno Therapeutics Inc. | 2.37% | 415,219 | $34.8M | Reduce -14.3% |
| UTHR United Therapeutics Corp. | 2.32% | 118,513 | $34.1M | New |
| INSM Insmed Inc. | 2.15% | 313,923 | $31.6M | Add +3.2% |
| AKRO Akero Therapeutics Inc. | 1.99% | 548,788 | $29.3M | Add +7.6% |
| SUPN Supernus Pharmaceuticals Inc. | 1.71% | 799,253 | $25.2M | Add +53.5% |
| ANAB Anaptysbio Inc. | 1.56% | 1,032,362 | $22.9M | Reduce -11.0% |
| RAPP Rapport Therapeutics Inc. | 1.54% | 1,995,594 | $22.7M | No change |
| QURE Uniqure NV | 1.48% | 1,558,356 | $21.7M | Add +185.5% |
| MRUS Merus NV | 1.45% | 404,562 | $21.3M | New |
| AZN Astrazeneca PLC-Spons ADR | 1.40% | 293,661 | $20.5M | New |
| PTCT PTC Therapeutics Inc. | 1.25% | 375,939 | $18.4M | Reduce -35.1% |
| INZY Inozyme Pharma Inc. | 1.16% | 4,280,308 | $17.1M | No change |
| COGT Cogent Biosciences Inc. | 1.15% | 2,355,505 | $16.9M | Add +8.0% |
| REPL Replimune Group Inc. | 1.14% | 1,806,529 | $16.8M | Reduce -27.1% |
| RNAM Avidity Biosciences Inc. | 1.13% | 584,801 | $16.6M | Add +53.9% |
| SNDX Syndax Pharmaceuticals Inc. | 0.97% | 1,524,440 | $14.3M | Reduce -33.0% |
| CDTX Cidara Therapeutics Inc. | 0.83% | 251,031 | $12.2M | New |
| IMTX Immatics NV | 0.82% | 2,240,528 | $12.1M | Add +44.1% |
| EXAS Exact Sciences Corp. | 0.75% | 208,300 | $11.1M | New |
| PHVS Pharvaris NV | 0.70% | 585,532 | $10.3M | Reduce -1.3% |
| INBX Inhibrx Biosciences Inc. | 0.69% | 708,678 | $10.1M | Add +1.5% |
| RCUS Arcus Biosciences Inc. | 0.67% | 1,216,016 | $9.9M | Add +17.2% |
| YMAB Y-Mabs Therapeutics Inc. | 0.67% | 2,194,278 | $9.9M | No change |
| AXSM Axsome Therapeutics Inc. | 0.66% | 93,610 | $9.8M | Reduce -46.6% |
| BIOA Bioage Labs Inc. | 0.65% | 2,304,901 | $9.5M | No change |
| EWTX Edgewise Therapeutics Inc. | 0.64% | 716,873 | $9.4M | Add +109.5% |
| IMNM Immunome Inc. | 0.49% | 778,476 | $7.2M | Reduce -1.3% |
| DYN Dyne Therapeutics Inc. | 0.40% | 614,865 | $5.9M | Reduce -14.2% |
| SVRA Savara Inc. | 0.38% | 2,457,352 | $5.6M | Reduce -55.2% |
| APGE Apogee Therapeutics Inc. | 0.23% | 76,180 | $3.3M | New |
| NXTC Nextcure Inc. | 0.08% | 2,671,856 | $1.2M | No change |
| ESTA Establishment Labs Holdings | 0.08% | 28,120 | $1.2M | Reduce -1.9% |
| JBIO Jade Biosciences Inc. | 0.07% | 107,391 | $1.1M | New |
| MTSR Metsera Inc. | 0.07% | 36,191 | $1.0M | Reduce -1.6% |
| SRRK Scholar Rock Holding Corp. | 0.06% | 26,440 | $937K | Reduce -77.2% |
| BOLT Bolt Biotherapeutics Inc. | 0.05% | 137,721 | $795K | No change |
| WVE Wave Life Sciences Ltd. | 0.05% | 117,903 | $766K | New |
| GPCR Structure Therapeutics Inc. | 0.05% | 34,353 | $712K | Reduce -1.7% |
| PRAX Praxis Precision Medicines I | 0.04% | 15,717 | $661K | Reduce -90.0% |
| IKENA ONCOLOGY INC | 0.03% | 382,616 | $513K | No change |
| IRON Disc Medicine Inc. | 0.03% | 7,312 | $387K | Reduce -2.3% |
Options reported separately and not counted above: IWM puts ($53.9M), IBB puts ($47.4M), SMMT calls ($14.9M), RYTM puts ($14.2M), REPL puts ($13.9M), ROIV calls ($11.3M), CDTX calls ($4.9M), COGT calls ($4.7M).
Portfolio Sells Q1 2025 → Q2 2025
| SYK Stryker Corp. | Sold out | 0.00% | −8.38 |
| MDT Medtronic PLC | Sold out | 0.00% | −3.82 |
| ALNY Alnylam Pharmaceuticals Inc. | Sold out | 0.00% | −3.59 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −1.74 |
| BMY Bristol-Myers Squibb Co. | Sold out | 0.00% | −1.71 |
| INCY Incyte Corp. | Sold out | 0.00% | −1.63 |
| SRPT Sarepta Therapeutics Inc. | Sold out | 0.00% | −1.58 |
| SNDX Syndax Pharmaceuticals Inc. | Reduce -33.0% | 0.97% | −1.14 |
| PTCT PTC Therapeutics Inc. | Reduce -35.1% | 1.25% | −0.98 |
| DHR Danaher Corp. | Sold out | 0.00% | −0.91 |
| AXSM Axsome Therapeutics Inc. | Reduce -46.6% | 0.66% | −0.88 |
| PEN Penumbra Inc. | Sold out | 0.00% | −0.87 |
| SVRA Savara Inc. | Reduce -55.2% | 0.38% | −0.76 |
| AEROVATE THERAPEUTICS INC | Sold out | 0.00% | −0.71 |
| REPL Replimune Group Inc. | Reduce -27.1% | 1.14% | −0.68 |
| PRAX Praxis Precision Medicines I | Reduce -90.0% | 0.04% | −0.41 |
| KURA Kura Oncology Inc. | Sold out | 0.00% | −0.39 |
| SLNO Soleno Therapeutics Inc. | Reduce -14.3% | 2.37% | −0.24 |
| SRRK Scholar Rock Holding Corp. | Reduce -77.2% | 0.06% | −0.22 |
| ERAS Erasca Inc. | Sold out | 0.00% | −0.19 |
| DYN Dyne Therapeutics Inc. | Reduce -14.2% | 0.40% | −0.17 |
| IDYA Ideaya Biosciences Inc. | Reduce -18.1% | 3.07% | −0.17 |
| ANAB Anaptysbio Inc. | Reduce -11.0% | 1.56% | −0.07 |
| ELVN Enliven Therapeutics Inc. | Sold out | 0.00% | −0.05 |
| VIR Vir Biotechnology Inc. | Sold out | 0.00% | −0.04 |
| ESTA Establishment Labs Holdings | Reduce -1.9% | 0.08% | −0.01 |
| MTSR Metsera Inc. | Reduce -1.6% | 0.07% | −0.01 |
| IRON Disc Medicine Inc. | Reduce -2.3% | 0.03% | −0.00 |
| PHVS Pharvaris NV | Reduce -1.3% | 0.70% | −0.00 |
| GPCR Structure Therapeutics Inc. | Reduce -1.7% | 0.05% | +0.00 |
| IMNM Immunome Inc. | Reduce -1.3% | 0.49% | +0.09 |
Portfolio Buys Q1 2025 → Q2 2025
| GILD Gilead Sciences Inc. | Add +150.7% | 7.92% | +4.38 |
| ABBV Abbvie Inc. | New | 3.36% | +3.36 |
| BSX Boston Scientific Corp. | New | 3.15% | +3.15 |
| UTHR United Therapeutics Corp. | New | 2.32% | +2.32 |
| ISRG Intuitive Surgical Inc. | Add +489.5% | 2.61% | +2.16 |
| LLY Eli Lilly & Co. | Add +83.8% | 5.15% | +1.86 |
| MRUS Merus NV | New | 1.45% | +1.45 |
| AZN Astrazeneca PLC-Spons ADR | New | 1.40% | +1.40 |
| ROIV Roivant Sciences Ltd. | Add +141.4% | 2.37% | +1.40 |
| DXCM Dexcom Inc. | Add +32.3% | 3.11% | +1.07 |
| QURE Uniqure NV | Add +185.5% | 1.48% | +1.04 |
| BBIO Bridgebio Pharma Inc. | Add +35.3% | 2.92% | +1.00 |
| CDTX Cidara Therapeutics Inc. | New | 0.83% | +0.83 |
| EXAS Exact Sciences Corp. | New | 0.75% | +0.75 |
| RYTM Rhythm Pharmaceuticals Inc. | Add +31.1% | 2.52% | +0.73 |
| AKRO Akero Therapeutics Inc. | Add +7.6% | 1.99% | +0.44 |
| SUPN Supernus Pharmaceuticals Inc. | Add +53.5% | 1.71% | +0.43 |
| INSM Insmed Inc. | Add +3.2% | 2.15% | +0.40 |
| IMTX Immatics NV | Add +44.1% | 0.82% | +0.29 |
| RNAM Avidity Biosciences Inc. | Add +53.9% | 1.13% | +0.28 |
| JAZZ Jazz Pharmaceuticals PLC | Add +36.1% | 5.01% | +0.24 |
| APGE Apogee Therapeutics Inc. | New | 0.23% | +0.23 |
| COGT Cogent Biosciences Inc. | Add +8.0% | 1.15% | +0.17 |
| JBIO Jade Biosciences Inc. | New | 0.07% | +0.07 |
| EWTX Edgewise Therapeutics Inc. | Add +109.5% | 0.64% | +0.07 |
| RCUS Arcus Biosciences Inc. | Add +17.2% | 0.67% | +0.06 |
| WVE Wave Life Sciences Ltd. | New | 0.05% | +0.05 |
| INBX Inhibrx Biosciences Inc. | Add +1.5% | 0.69% | −0.05 |
Options Activity Q1 2025 → Q2 2025
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 175,000 | $82.1Mbefore exit |
| IWM iShares Russell 2000 ETF | put | Reduce -28.6% | 250,000 | $53.9M |
| IBB iShares Biotechnology ETF | put | New | 375,000 | $47.4M |
| SLNO Soleno Therapeutics Inc. | put | Sold out | 529,300 | $37.8Mbefore exit |
| SMMT Summit Therapeutics Inc. | call | New | 700,000 | $14.9M |
| RYTM Rhythm Pharmaceuticals Inc. | put | New | 225,000 | $14.2M |
| REPL Replimune Group Inc. | put | New | 1,500,000 | $13.9M |
| ROIV Roivant Sciences Ltd. | call | New | 1,000,000 | $11.3M |
| ACAD Acadia Pharmaceuticals Inc. | call | Sold out | 500,000 | $8.3Mbefore exit |
| EWTX Edgewise Therapeutics Inc. | put | Sold out | 320,400 | $7.0Mbefore exit |
| CDTX Cidara Therapeutics Inc. | call | New | 100,000 | $4.9M |
| COGT Cogent Biosciences Inc. | call | New | 660,000 | $4.7M |
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 |