NOVO HOLDINGS A/S
Long book
$1.23B
Q1 2026
Positions
22
Top-10 weight
74%
concentration
Last quarter
+23.1%
SPY +14.8%
Turnover
16%
of book per quarter
Strategy in plain words
auto-generated from filingsNOVO HOLDINGS A/S is a concentrated fundamental stock-picker, specialised in healthcare (67% of the long book), running a $1.23B US long book across 22 positions.
The portfolio is concentrated: the top 10 names carry 74% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: EDGEWISE THERAPEUTICS INC, BROOKFIELD CORP, ASML HOLDING NV-NY REG SHS, MIRUM PHARMACEUTICALS INC, MAPLIGHT THERAPEUTICS INC.
Over the last 9 quarters its long book ran on average 2.6pp 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
+1.7%
Q2 2024
+17.1%
Q3 2024
-7.0%
Q4 2024
-7.0%
Q1 2025
+3.9%
Q2 2025
+19.3%
Q3 2025
+11.0%
Q4 2025
+2.0%
Q1 2026
+23.1%
Sector allocation
Healthcare 68%
Real estate 12%
Industrials 11%
Technology 6%
Materials 3%
Other 0%
Long book by quarter
What does NOVO own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| EWTX EDGEWISE THERAPEUTICS INC | Healthcare | 5.3M | $168.5M | 13.7% | Held |
| BN BROOKFIELD CORP | Real estate | 3.5M | $141.5M | 11.5% | Held |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 94.9K | $125.4M | 10.2% | -16.7% |
| MIRM MIRUM PHARMACEUTICALS INC | Healthcare | 1.3M | $122.4M | 9.9% | +4.8% |
| MPLT MAPLIGHT THERAPEUTICS INC | Healthcare | 3.7M | $74.9M | 6.1% | Held |
| CRM SALESFORCE INC | Technology | 393.2K | $73.4M | 5.9% | +19.1% |
| CRNX CRINETICS PHARMACEUTICALS IN | Healthcare | 1.6M | $56.3M | 4.6% | -4.6% |
| ELVN ENLIVEN THERAPEUTICS INC | Healthcare | 1.3M | $50.2M | 4.1% | -13.5% |
| PCVX VAXCYTE INC | Healthcare | 860.0K | $50.0M | 4.0% | -6.1% |
| PHVS PHARVARIS NV | Healthcare | 1.8M | $49.4M | 4.0% | Held |
| AVBP ARRIVENT BIOPHARMA INC | Healthcare | 1.9M | $44.8M | 3.6% | Held |
| VRDN VIRIDIAN THERAPEUTICS INC | Healthcare | 2.0M | $39.1M | 3.2% | -16.0% |
| CLDX CELLDEX THERAPEUTICS INC | Materials | 1.2M | $38.1M | 3.1% | Held |
| APGE APOGEE THERAPEUTICS INC | Healthcare | 450.0K | $37.9M | 3.1% | -21.1% |
| BMRN BIOMARIN PHARMACEUTICAL INC | Healthcare | 660.0K | $37.3M | 3.0% | Held |
| FDMT 4D MOLECULAR THERAPEUTICS IN | Healthcare | 3.7M | $34.0M | 2.8% | Held |
| XENE XENON PHARMACEUTICALS INC | Healthcare | 485.4K | $28.2M | 2.3% | New |
| BBOT BRIDGEBIO ONCOLOGY THERAPEUT | Healthcare | 2.2M | $19.6M | 1.6% | +11.5% |
| LNZA LANZATECH GLOBAL INC | Other | 158.1K | $2.5M | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 22 | $1.23B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 24 | $1.29B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 27 | $1.55B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 29 | $1.42B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 31 | $1.31B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 34 | $1.65B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 24, 2024 | 37 | $2.01B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR/ARESTATEMENT | Aug 20, 2024 | 38 | $1.85B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 39 | $1.72B | SEC ↗ | |
| Q1 2024 | 13F-HR | May 15, 2024 | 35 | $1.45B | canonical | SEC ↗ |