BVF INC/IL

Fundamental concentrated ★Highest signal healthcare specialist (100%) CIK 1056807
League rank
#173
in Fundamental concentrated · #280 overall
Long book
$3.14B
Q1 2026
Positions
41
Top-10 weight
62%
concentration
Last quarter
+26.2%
SPY +14.8%
Turnover
18%
of book per quarter

Strategy in plain words

auto-generated from filings

BVF INC/IL is a concentrated fundamental stock-picker, specialised in healthcare (100% of the long book), running a $3.14B US long book across 41 positions.

The portfolio is concentrated: the top 10 names carry 62% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: KYMERA THERAPEUTICS INC, MOONLAKE IMMUNOTHERAPEUTICS, REVOLUTION MEDICINES INC, NEKTAR THERAPEUTICS, STRUCTURE THERAPEUTICS INC.

Over the last 9 quarters its long book ran on average 2.2pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
-7.4%
Q2 2024
+10.2%
Q3 2024
-8.7%
Q4 2024
-20.5%
Q1 2025
+15.1%
Q2 2025
-1.9%
Q3 2025
+41.9%
Q4 2025
+4.9%
Q1 2026
+26.2%

Sector allocation

Healthcare
100%

Long book by quarter

$3.64B
Q1 2024
$3.57B
Q2 2024
$3.42B
Q3 2024
$2.95B
Q4 2024
$2.45B
Q1 2025
$2.80B
Q2 2025
$2.47B
Q3 2025
$2.97B
Q4 2025
$3.14B
Q1 2026

What does BVF INC/IL own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
KYMR KYMERA THERAPEUTICS INCHealthcare5.5M$458.3M14.6%Held
MLTX MOONLAKE IMMUNOTHERAPEUTICSHealthcare16.0M$298.3M9.5%-19.0%
RVMD REVOLUTION MEDICINES INCHealthcare2.9M$277.8M8.9%-14.9%
NKTR NEKTAR THERAPEUTICSHealthcare2.6M$184.2M5.9%+64.1%
MIRM MIRUM PHARMACEUTICALS INCHealthcare1.6M$146.4M4.7%+6.0%
GHRS GH RESEARCH PLCHealthcare8.7M$121.6M3.9%-2.0%
PVLA PALVELLA THERAPEUTICS INCHealthcare961.0K$119.8M3.8%+9.3%
ZYME ZYMEWORKS INCHealthcare3.7M$93.5M3.0%-5.2%
XNCR XENCOR INCHealthcare7.1M$86.0M2.7%Held
STOK STOKE THERAPEUTICS INCHealthcare2.5M$82.9M2.6%+12.4%
CGEM CULLINAN THERAPEUTICS INCHealthcare5.8M$81.7M2.6%Held
IRON DISC MEDICINE INCHealthcare1.3M$81.4M2.6%+95.7%
XOMA XOMA ROYALTY CORPORATIONHealthcare2.6M$81.3M2.6%Held
OLMA OLEMA PHARMACEUTICALS INCHealthcare5.3M$79.0M2.5%Held
TYRA TYRA BIOSCIENCES INCHealthcare2.0M$75.7M2.4%-7.1%
GLUE MONTE ROSA THERAPEUTICS INCHealthcare4.5M$73.4M2.3%+16.3%
ALKS ALKERMES PLCHealthcare2.0M$70.7M2.3%New
KURA KURA ONCOLOGY INCHealthcare8.4M$68.7M2.2%-2.0%
ACIU AC IMMUNE SAHealthcare19.8M$54.5M1.7%Held
CBIO CRESCENT BIOPHARMA INCHealthcare2.7M$50.5M1.6%Held
ANNX ANNEXON INCHealthcare8.7M$48.2M1.5%-4.7%
CMPX COMPASS THERAPEUTICS INCHealthcare7.8M$41.1M1.3%Held
SEPN SEPTERNA INCHealthcare1.4M$32.5M1.0%-21.4%
STRO SUTRO BIOPHARMA INCHealthcare1.3M$31.2M1.0%New
FHTX FOGHORN THERAPEUTICS INCHealthcare5.8M$27.9M0.9%+10.2%
FDMT 4D MOLECULAR THERAPEUTICS INHealthcare2.9M$26.8M0.9%-37.8%
IVVD INVIVYD INCHealthcare19.5M$25.4M0.8%Held
AVTX AVALO THERAPEUTICS INCHealthcare1.6M$24.4M0.8%+20.5%
ELDN ELEDON PHARMACEUTICALS INCHealthcare6.3M$19.4M0.6%Held
AVR ANTERIS TECHNOLOGIES GLOBALHealthcare3.0M$16.6M0.5%New
XFOR X4 PHARMACEUTICALS INCHealthcare2.2M$9.2M0.3%Held
IMUX IMMUNIC INCHealthcare7.7M$8.5M0.3%Held
OKUR ONKURE THERAPEUTICS INC-AHealthcare2.0M$8.2M0.3%New
TCRX TSCAN THERAPEUTICS INCHealthcare5.6M$5.6M0.2%+6.5%
IMA IMAGENEBIO INCHealthcare1.1M$5.6M0.2%+38.4%
TENX TENAX THERAPEUTICS INCHealthcare339.5K$5.4M0.2%Held
ENGN enGene Therapeutics IncHealthcare945.4K$2.5M0.1%Held

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 15, 202641$3.14B canonicalSEC ↗
Q4 202513F-HRFeb 17, 202641$2.97B canonicalSEC ↗
Q3 202513F-HRNov 14, 202546$2.47B canonicalSEC ↗
Q2 202513F-HRAug 14, 202544$2.80B canonicalSEC ↗
Q1 202513F-HRMay 15, 202551$2.45B canonicalSEC ↗
Q4 202413F-HRFeb 14, 202553$2.95B canonicalSEC ↗
Q3 202413F-HRNov 14, 202455$3.42B canonicalSEC ↗
Q2 202413F-HRAug 14, 202460$3.57B canonicalSEC ↗
Q1 202413F-HRMay 15, 202462$3.64B canonicalSEC ↗

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