Novo Holdings A/S
HELLERUP, G7
$1.7bn in 25 US stocks at the end of 30 June 2026. The top 10 are 73.5% of the money. It changed about 25.5% of the portfolio this quarter.
Value
$1.7bn
Stocks
25
Top 10 share
73.5%
Turnover
25.5%
What changed this quarter
New
Bought for the first time this quarter.
- Hemab Therapeutics HoldingsCOAG8.9% of the fund
- Avalyn PharmaAVLN7.4% of the fund
- Floor & Decor HoldingsFND2.7% of the fund
- AlumisALMS1.8% of the fund
- Dyne TherapeuticsDYN1.2% of the fund
- InsmedINSM0.7% of the fund
Added
Bought more of a stock they already held.
- Viridian TherapeuticsVRDN2.3% of the fund+7%
- BridgeBio Oncology TherapeuticsBBOT1.0% of the fund+3%
Cut
Sold some of their stake.
- Mirum PharmaceuticalsMIRM7.6% of the fund-15%
- ArriVent BioPharmaAVBP3.0% of the fund-23%
- Enliven TherapeuticsELVN2.9% of the fund-22%
- Crinetics PharmaceuticalsCRNX2.9% of the fund-15%
- PharvarisPHVS2.8% of the fund-20%
- VaxcytePCVX2.7% of the fund-7%
- 4D Molecular TherapeuticsFDMT2.5% of the fund-11%
- Celldex TherapeuticsCLDX2.2% of the fund-15%
Sold out
Sold their entire stake.
- Apogee TherapeuticsAPGE-100%
- Biomarin PharmaceuticalBMRN-100%
- Valneva SEVALN-100%
Holdings
- Hemab Therapeutics HoldingsCOAG
- Share
- 8.9%
- Value
- $154m
- Shares
- 4,180,550
New
- BrookfieldBN
- Share
- 8.7%
- Value
- $150m
- Shares
- 3,496,245
Held
- Avalyn PharmaAVLN
- Share
- 7.4%
- Value
- $128m
- Shares
- 3,883,289
New
- Crinetics PharmaceuticalsCRNX
- Share
- 2.9%
- Value
- $49m
- Shares
- 1,320,000
-15%
- Alibaba Group HldgBABA
- Share
- 1.4%
- Value
- $25m
- Shares
- 257,327
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Edgewise TherapeuticsEWTX | 12.6% | $217m | 5,350,000 | Held |
| ASML Holding NVASML | 11.0% | $189m | 94,946 | Held |
| Hemab Therapeutics HoldingsCOAG | 8.9% | $154m | 4,180,550 | New |
| BrookfieldBN | 8.7% | $150m | 3,496,245 | Held |
| MapLight TherapeuticsMPLT | 7.7% | $132m | 3,686,622 | Held |
| Mirum PharmaceuticalsMIRM | 7.6% | $132m | 1,125,000 | -15% |
| Avalyn PharmaAVLN | 7.4% | $128m | 3,883,289 | New |
| SalesforceCRM | 3.6% | $62m | 393,187 | Held |
| ArriVent BioPharmaAVBP | 3.0% | $52m | 1,500,000 | -23% |
| Enliven TherapeuticsELVN | 2.9% | $51m | 1,000,000 | -22% |
| Crinetics PharmaceuticalsCRNX | 2.9% | $49m | 1,320,000 | -15% |
| PharvarisPHVS | 2.8% | $48m | 1,400,000 | -20% |
| Floor & Decor HoldingsFND | 2.7% | $47m | 797,000 | New |
| VaxcytePCVX | 2.7% | $47m | 800,000 | -7% |
| 4D Molecular TherapeuticsFDMT | 2.5% | $43m | 3,249,178 | -11% |
| Viridian TherapeuticsVRDN | 2.3% | $39m | 2,135,000 | +7% |
| Celldex TherapeuticsCLDX | 2.2% | $38m | 1,025,000 | -15% |
| AlumisALMS | 1.8% | $31m | 1,100,000 | New |
| Xenon PharmaceuticalsXENE | 1.7% | $29m | 485,438 | Held |
| Alibaba Group HldgBABA | 1.4% | $25m | 257,327 | Held |
| Dyne TherapeuticsDYN | 1.2% | $21m | 960,394 | New |
| BridgeBio Oncology TherapeuticsBBOT | 1.0% | $17m | 2,250,000 | +3% |
| InsmedINSM | 0.7% | $13m | 120,723 | New |
| MarqetaMQ | 0.4% | $7m | 441,558 | Held |
| LanzaTech GlobalLNZA | <0.1% | $1m | 158,148 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 21.6% since 30 June 2025.
Where the money is
Health care72.1%
Industrials11.0%
Real estate8.7%
Technology4.0%
Retail & consumer2.7%
Materials0.1%
Other1.4%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.