Novo Holdings A/S
Net buyer this quarter
$1.72B
25
+$205M
73.5%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 EWTX | $217M | 12.62% | 4.96% | Not reported | Q1 2021 |
 ASML | $189M | 10.97% | 0.02% | Not reported | Q1 2022 |
 COAG | $154M | 8.92% | 8.95% | New | Q2 2026 |
 BN | $150M | 8.68% | Not reported | Not reported | Q3 2023 |
 MPLT | $132M | 7.67% | 8.11% | Not reported | Q4 2025 |
 MIRM | $132M | 7.65% | 1.74% | -15.1% | Q3 2019 |
 AVLN | $128M | 7.42% | 8.76% | New | Q2 2026 |
 CRM | $61.6M | 3.58% | 0.05% | Not reported | Q1 2022 |
 AVBP | $52.1M | 3.03% | 3.10% | -22.8% | Q1 2024 |
 ELVN | $50.8M | 2.95% | 1.37% | -21.9% | Q2 2025 |
| CRNX | $49.4M | 2.87% | 1.25% | -14.8% | Q3 2018 |
 PHVS | $48.4M | 2.81% | 2.15% | -20.0% | Q1 2021 |
 FND | $47.3M | 2.75% | 0.75% | New | Q2 2026 |
 PCVX | $46.5M | 2.70% | 0.55% | -7.0% | Q2 2020 |
 FDMT | $43.2M | 2.51% | 5.88% | -11.0% | Q1 2023 |
 VRDN | $39.2M | 2.28% | 1.89% | +6.8% | Q1 2024 |
 CLDX | $38.1M | 2.21% | 1.31% | -14.6% | Q2 2024 |
 ALMS | $31M | 1.80% | Not reported | New | Q2 2026 |
 XENE | $29.3M | 1.70% | 0.50% | Not reported | Q4 2014 |
 BABA | $24.7M | 1.43% | 0.01% | Not reported | Q1 2021 |
 DYN | $21.3M | 1.24% | 0.58% | New | Q2 2026 |
 BBOT | $17.1M | 1.00% | 2.81% | +2.9% | Q3 2025 |
 INSM | $12.9M | 0.75% | 0.06% | Not reported | Q2 2020 |
 MQ | $7.17M | 0.42% | Not reported | Not reported | Q4 2021 |
 LNZA | $1.08M | 0.06% | 1.21% | Not reported | Q1 2023 |
| Q1 2026 | |||||
| EWTX | $169M | 13.65% | 4.98% | Not reported | Q1 2021 |
| BN | $141M | 11.46% | Not reported | Not reported | Q3 2023 |
| ASML | $125M | 10.16% | 0.02% | -16.7% | Q1 2022 |
| MIRM | $122M | 9.92% | 2.17% | +4.8% | Q3 2019 |
| MPLT | $74.9M | 6.07% | 8.15% | Not reported | Q4 2025 |
| CRM | $73.4M | 5.95% | 0.04% | +19.1% | Q1 2022 |
| CRNX | $56.3M | 4.56% | 1.47% | -4.6% | Q3 2018 |
| ELVN | $50.2M | 4.07% | 2.10% | -13.5% | Q2 2025 |
| PCVX | $50M | 4.05% | 0.60% | -6.1% | Q2 2020 |
| PHVS | $49.4M | 4.01% | 2.68% | Not reported | Q1 2021 |
| AVBP | $44.8M | 3.63% | 4.29% | Not reported | Q1 2024 |
| VRDN | $39.1M | 3.17% | 1.95% | -16.0% | Q1 2024 |
| CLDX | $38.1M | 3.08% | 1.80% | Not reported | Q2 2024 |
| APGE | $37.9M | 3.07% | 0.60% | -21.1% | Q2 2025 |
 BMRN | $37.3M | 3.02% | 0.34% | Not reported | Q2 2022 |
| FDMT | $34M | 2.75% | 6.98% | Not reported | Q1 2023 |
| BABA | $32.3M | 2.62% | 0.01% | Not reported | Q1 2021 |
| XENE | $28.2M | 2.29% | 0.50% | Not reported | Q4 2014 |
| BBOT | $19.6M | 1.59% | 2.73% | +11.5% | Q3 2025 |
 VALN | $6.61M | 0.54% | 0.61% | -54.1% | Q2 2025 |
| LNZA | $2.53M | 0.21% | 1.57% | Not reported | Q1 2023 |
| MQ | $1.8M | 0.15% | Not reported | Not reported | Q4 2021 |
| Q4 2025 | |||||
| BN | $160M | 12.46% | Not reported | Not reported | Q3 2023 |
| EWTX | $133M | 10.31% | 5.04% | Not reported | Q1 2021 |
| ASML | $122M | 9.47% | 0.03% | -21.9% | Q1 2022 |
| MIRM | $99.8M | 7.75% | 2.44% | Not reported | Q3 2019 |
| CRM | $87.5M | 6.79% | 0.04% | Not reported | Q1 2022 |
| CRNX | $75.6M | 5.87% | 1.70% | Not reported | Q3 2018 |
| VRDN | $74.1M | 5.75% | 2.34% | Not reported | Q1 2024 |
| MPLT | $64.8M | 5.03% | 8.37% | New | Q4 2025 |
 ZBIO | $52.6M | 4.09% | 2.66% | -27.5% | Q3 2024 |
| PHVS | $48.6M | 3.77% | 2.68% | Not reported | Q1 2021 |
| APGE | $43M | 3.34% | 0.83% | +14.0% | Q2 2025 |
| PCVX | $42.3M | 3.28% | 0.70% | Not reported | Q2 2020 |
| BMRN | $39.2M | 3.05% | 0.34% | Not reported | Q2 2022 |
| AVBP | $39.1M | 3.03% | 4.57% | Not reported | Q1 2024 |
| BABA | $37.7M | 2.93% | 0.00% | Not reported | Q1 2021 |
| INSM | $34.8M | 2.70% | 0.09% | Not reported | Q2 2020 |
| CLDX | $32.6M | 2.53% | 1.80% | Not reported | Q2 2024 |
| FDMT | $27.4M | 2.13% | 6.34% | +82.5% | Q1 2023 |
| BBOT | $24.6M | 1.91% | 2.45% | Not reported | Q3 2025 |
| ELVN | $22.8M | 1.77% | 2.49% | +3.8% | Q2 2025 |
| VALN | $20.3M | 1.58% | 1.33% | -1.7% | Q2 2025 |
| LNZA | $2.18M | 0.17% | 6.82% | Not reported | Q1 2023 |
| MQ | $2.1M | 0.16% | Not reported | Not reported | Q4 2021 |
| IOBTQ | $1.53M | 0.12% | 3.49% | Not reported | Q4 2021 |
| Q3 2025 | |||||
| BN | $160M | 10.30% | Not reported | Not reported | Q3 2023 |
| ASML | $141M | 9.10% | 0.04% | -12.1% | Q1 2022 |
| MIRM | $92.7M | 5.97% | 2.46% | -15.7% | Q3 2019 |
| EWTX | $86.8M | 5.59% | 5.06% | Not reported | Q1 2021 |
| CRM | $78.3M | 5.04% | 0.03% | Not reported | Q1 2022 |
| MRUS | $70.6M | 4.55% | 0.99% | Not reported | Q2 2016 |
| CRNX | $67.7M | 4.36% | 1.72% | +4.8% | Q3 2018 |
| VRDN | $51.4M | 3.31% | 2.89% | Not reported | Q1 2024 |
| BABA | $46M | 2.96% | 0.00% | -30.9% | Q1 2021 |
| ZBIO | $44.4M | 2.86% | 4.74% | -11.1% | Q3 2024 |
| PHVS | $43.7M | 2.81% | 3.22% | +1.5% | Q1 2021 |
 RXRX | $38.7M | 2.49% | 1.61% | -18.0% | Q4 2024 |
| AVBP | $35.8M | 2.31% | 4.75% | +3.7% | Q1 2024 |
| BMRN | $35.7M | 2.30% | 0.34% | Not reported | Q2 2022 |
| PCVX | $33M | 2.13% | 0.70% | Not reported | Q2 2020 |
| CLDX | $31M | 2.00% | 1.81% | Not reported | Q2 2024 |
| ELVN | $29.2M | 1.88% | 2.41% | +31.5% | Q2 2025 |
| INSM | $28.8M | 1.86% | 0.09% | -70.6% | Q2 2020 |
| VALN | $28.6M | 1.84% | 1.44% | -1.3% | Q2 2025 |
| BBOT | $22.7M | 1.46% | 2.48% | New | Q3 2025 |
| APGE | $19.9M | 1.28% | 0.84% | +11.3% | Q2 2025 |
| FDMT | $17.4M | 1.12% | 4.28% | Not reported | Q1 2023 |
| LNZA | $3.88M | 0.25% | 6.82% | 0.0% | Q1 2023 |
| MQ | $2.33M | 0.15% | Not reported | Not reported | Q4 2021 |
| IOBTQ | $912K | 0.06% | 3.61% | -25.1% | Q4 2021 |
 DMRA | $322K | 0.02% | 6.52% | -13.4% | Q3 2024 |