Bellevue Group AG
Long book
$4.20B
Q1 2026
Positions
155
Top-10 weight
42%
concentration
Last quarter
+15.7%
SPY +14.8%
Turnover
30%
of book per quarter
Strategy in plain words
auto-generated from filingsBellevue Group AG is a diversified fundamental manager, specialised in healthcare (93% of the long book), running a $4.20B US long book across 155 positions.
The portfolio is moderately concentrated (top 10 ≈ 42% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: VERTEX PHARMACEUTICALS INC, ARGENX SE - ADR, REGENERON PHARMACEUTICALS, SCHOLAR ROCK HOLDING CORP, GILEAD SCIENCES INC.
Over the last 9 quarters its long book ran on average 1pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.6%
Q2 2024
+4.3%
Q3 2024
-5.8%
Q4 2024
-6.1%
Q1 2025
+3.6%
Q2 2025
+12.3%
Q3 2025
+11.9%
Q4 2025
-5.5%
Q1 2026
+15.7%
Sector allocation
Healthcare 92%
Financials 3%
Materials 2%
Technology 1%
Other 1%
Consumer discretionary 1%
Services media 0%
Energy 0%
Long book by quarter
What does Bellevue Group own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| VRTX VERTEX PHARMACEUTICALS INC | Healthcare | 681.9K | $304.5M | 7.2% | +0.1% |
| REGN REGENERON PHARMACEUTICALS | Healthcare | 278.7K | $215.3M | 5.1% | +1900.8% |
| SRRK SCHOLAR ROCK HOLDING CORP | Healthcare | 3.6M | $176.2M | 4.2% | -11.6% |
| GILD GILEAD SCIENCES INC | Healthcare | 1.2M | $163.0M | 3.9% | +2117.7% |
| RVMD REVOLUTION MEDICINES INC | Healthcare | 1.5M | $150.2M | 3.6% | -69.1% |
| IONS IONIS PHARMACEUTICALS INC | Healthcare | 1.8M | $136.6M | 3.2% | -62.1% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 286.7K | $132.1M | 3.1% | -11.0% |
| VRDN VIRIDIAN THERAPEUTICS INC | Healthcare | 6.7M | $131.6M | 3.1% | +54.3% |
| KRYS KRYSTAL BIOTECH INC | Healthcare | 481.8K | $124.5M | 3.0% | +17.4% |
| CRNX CRINETICS PHARMACEUTICALS IN | Healthcare | 3.3M | $119.1M | 2.8% | +81088.1% |
| ABT ABBOTT LABORATORIES | Healthcare | 1.2M | $118.2M | 2.8% | -12.6% |
| NUVL NUVALENT INC-A | Healthcare | 1.1M | $107.9M | 2.6% | +1.5% |
| AMGN AMGEN INC | Healthcare | 295.4K | $103.9M | 2.5% | +1497.5% |
| BSX BOSTON SCIENTIFIC CORP | Healthcare | 1.5M | $92.0M | 2.2% | -5.9% |
| ELVN ENLIVEN THERAPEUTICS INC | Healthcare | 2.3M | $91.0M | 2.2% | New |
| MDT MEDTRONIC PLC | Healthcare | 957.3K | $83.0M | 2.0% | +24.9% |
| ALNY ALNYLAM PHARMACEUTICALS INC | Healthcare | 234.5K | $77.6M | 1.8% | -47.4% |
| RLAY RELAY THERAPEUTICS INC | Healthcare | 7.8M | $77.6M | 1.8% | -6.6% |
| SYK STRYKER CORP | Healthcare | 217.2K | $71.4M | 1.7% | -39.8% |
| PCVX VAXCYTE INC | Healthcare | 1.2M | $69.2M | 1.6% | New |
| VERA VERA THERAPEUTICS INC | Healthcare | 1.7M | $68.8M | 1.6% | +0.7% |
| EW EDWARDS LIFESCIENCES CORP | Healthcare | 839.5K | $67.2M | 1.6% | -19.5% |
| DMRA DAMORA THERAPEUTICS INC | Healthcare | 2.3M | $59.5M | 1.4% | New |
| TNGX TANGO THERAPEUTICS INC | Healthcare | 2.4M | $50.2M | 1.2% | -38.9% |
| IDXX IDEXX LABORATORIES INC | Materials | 89.1K | $50.1M | 1.2% | -5.7% |
| RARE ULTRAGENYX PHARMACEUTICAL IN | Healthcare | 2.4M | $49.9M | 1.2% | +92148.1% |
| DXCM DEXCOM INC | Healthcare | 788.8K | $49.5M | 1.2% | -6.9% |
| JBIO JADE BIOSCIENCES INC | Healthcare | 3.5M | $49.2M | 1.2% | +4.8% |
| EWTX EDGEWISE THERAPEUTICS INC | Healthcare | 1.5M | $48.1M | 1.1% | Held |
| UNH UNITEDHEALTH GROUP INC | Financials | 148.2K | $40.1M | 1.0% | -15.4% |
| DHR DANAHER CORP | Technology | 202.2K | $38.3M | 0.9% | +3.9% |
| CLDX CELLDEX THERAPEUTICS INC | Materials | 1.2M | $38.1M | 0.9% | -66.8% |
| RMD RESMED INC | Healthcare | 159.3K | $35.8M | 0.9% | -1.2% |
| PODD INSULET CORP | Healthcare | 163.7K | $34.3M | 0.8% | -12.3% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 64.4K | $31.7M | 0.8% | -1.0% |
| LLY ELI LILLY & CO | Healthcare | 33.9K | $31.2M | 0.7% | -0.2% |
| GEHC GE HEALTHCARE TECHNOLOGY | Healthcare | 416.9K | $29.7M | 0.7% | -1.8% |
| IRON DISC MEDICINE INC | Healthcare | 459.3K | $29.4M | 0.7% | New |
| JNJ JOHNSON & JOHNSON | Healthcare | 119.1K | $29.1M | 0.7% | -6.1% |
| ANNX ANNEXON INC | Healthcare | 5.2M | $28.6M | 0.7% | Held |
| CI THE CIGNA GROUP | Financials | 98.3K | $26.2M | 0.6% | -10.7% |
| ORKA ORUKA THERAPEUTICS INC | Healthcare | 507.0K | $24.9M | 0.6% | New |
| MRK MERCK & CO. INC. | Healthcare | 206.6K | $24.9M | 0.6% | +124.3% |
| ALGN ALIGN TECHNOLOGY INC | Healthcare | 139.7K | $23.9M | 0.6% | -1.3% |
| STE STERIS PLC | Healthcare | 99.9K | $22.1M | 0.5% | -1.8% |
| GMED GLOBUS MEDICAL INC - A | Healthcare | 247.3K | $21.3M | 0.5% | -5.9% |
| GLUE MONTE ROSA THERAPEUTICS INC | Healthcare | 1.3M | $20.6M | 0.5% | New |
| ABBV ABBVIE INC | Healthcare | 93.6K | $20.3M | 0.5% | -30.6% |
| COO COOPER COS INC/THE | Healthcare | 272.2K | $19.5M | 0.5% | -6.8% |
| MCK MCKESSON CORP | Consumer discretionary | 22.4K | $19.3M | 0.5% | -10.9% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 167 | $4.20B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 213 | $5.28B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 186 | $4.81B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 175 | $4.54B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 177 | $4.46B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 193 | $5.20B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 196 | $6.17B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 204 | $6.15B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 208 | $6.56B | canonical | SEC ↗ |