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BVF Inc Portfolio holdings

AUM $3.91B
1-Year Est. Return 304.52%
This Fund
S&P 500
This Quarter Est. Return
+64.47%
1 Year Est. Return
+304.52%
3 Year Est. Return
+591.72%
5 Year Est. Return
+1,391.92%
10 Year Est. Return
+28,184.58%
AUM
$2.47B
AUM Growth
-$332M
Cap. Flow
-$269M
Cap. Flow %
-10.92%
Top 10 Hldgs %
58.61%
Holding
50
New
6
Increased
9
Reduced
9
Closed
4

Top Buys

Rank Stock Value
1
NKTR icon
Nektar Therapeutics
NKTR
+$42.3M
2
CDTX
Cidara Therapeutics
CDTX
+$40.1M
3
ABVX
Abivax
ABVX
+$34.2M
4
GPCR icon
Structure Therapeutics
GPCR
+$28.5M
5
STOK icon
Stoke Therapeutics
STOK
+$28.4M

Top Sells

Rank Stock Value
1
AXSM icon
Axsome Therapeutics
AXSM
+$136M
2
CELC icon
Celcuity
CELC
+$112M
3
MIRM icon
Mirum Pharmaceuticals
MIRM
+$80.5M
4
IONS icon
Ionis Pharmaceuticals
IONS
+$75.6M
5
RVMD icon
Revolution Medicines
RVMD
+$39.4M

Sector Composition

Rank Sector Weight
1 Healthcare 99.97%
2 Miscellaneous 0.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XNCR icon
26
Xencor
XNCR
$1.94B
$32.1M 1.3%
2,740,141
– –
FHTX icon
27
Foghorn Therapeutics
FHTX
$356M
$25.9M 1.05%
5,302,000
– –
ANNX icon
28
Annexon
ANNX
$942M
$21.4M 0.87%
7,000,000
– –
RPTX
29
DELISTED
Repare Therapeutics
RPTX
$18.2M 0.74%
10,333,600
– –
AVTX icon
30
Avalo Therapeutics
AVTX
$1.05B
$17.2M 0.7%
1,355,256
+327,207
+32% +$2.81M
CMPX icon
31
Compass Therapeutics
CMPX
$432M
$16.6M 0.67%
+4,750,000
New +$15M
CBIO
32
Crescent Biopharma
CBIO
$659M
$16.5M 0.67%
1,387,863
– –
ELDN icon
33
Eledon Pharmaceuticals
ELDN
$260M
$16.3M 0.66%
6,293,282
– –
TCRX icon
34
TScan Therapeutics
TCRX
$51.1M
$9.51M 0.39%
5,226,074
– –
PEPG icon
35
PepGen
PEPG
$213M
$8.85M 0.36%
+1,915,000
New +$3.09M
XFOR icon
36
X4 Pharmaceuticals
XFOR
$401M
$7.64M 0.31%
+2,233,742
New +$5.76M
IMUX icon
37
Immunic
IMUX
$210M
$6.75M 0.27%
765,297
– –
IMA
38
ImageneBio Inc
IMA
$60.6M
$6.54M 0.27%
802,102
+468,222
+140% +$6.21M
MOLN
39
Molecular Partners
MOLN
$172M
$5.02M 0.2%
1,353,968
– –
IVA
40
Inventiva
IVA
$1.11B
$3.97M 0.16%
686,040
– –
TENX icon
41
Tenax Therapeutics
TENX
$79.7M
$2.58M 0.1%
339,549
– –
EPIX
42
DELISTED
ESSA Pharma
EPIX
$2.23M 0.09%
11,668,473
+2,919,844
+33% +$3.5M
SABS icon
43
SAB Biotherapeutics
SABS
$345M
$1.87M 0.08%
932,697
+14,871
+2% +$33.6K
FBRX icon
44
Forte Biosciences
FBRX
$980K 0.04%
65,350
-522,994
-89% -$6.02M
ENGNW icon
45
enGene Therapeutics Warrants
ENGNW
$2.39M
$681K 0.03%
945,402
– –
NCEL
46
NewcelX Ltd
NCEL
$18.4M
$263K 0.01%
14,368
– –
IONS icon
47
Ionis Pharmaceuticals
IONS
$10.1B
– –
-1,913,385
Closed -$75.6M
OVID icon
48
Ovid Therapeutics
OVID
$547M
– –
-3,853,818
Closed -$1.27M
RAPT
49
DELISTED
RAPT Therapeutics
RAPT
– –
-1,154,692
Closed -$9.24M
VSTM icon
50
Verastem
VSTM
$654M
– –
-3,404,425
Closed -$14.1M
1
2

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LCM
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BVF Inc's Q3 2025 Portfolio in Review

As of Q3 2025, BVF Inc held 50 positions worth $2.47B, down 12% from $2.8B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

BVF Inc withdrew a net $269M in Q3 2025, closing 4 positions and reducing 9 holdings. Its most notable exit was Ionis Pharmaceuticals, an estimated $75.6M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, down from 100% a quarter earlier, followed by Miscellaneous.

Against the trend, BVF Inc opened a new position in Nektar Therapeutics worth $72.6M.

  • BVF Inc's largest Q3 2025 buy was Nektar Therapeutics: 1,276,595 shares worth $72.6M.
  • BVF Inc added most to Cidara Therapeutics in Q3 2025, an estimated $40.1M increase.
  • BVF Inc's biggest Q3 2025 reduction was Axsome Therapeutics, cutting an estimated $136M.
  • BVF Inc fully exited Ionis Pharmaceuticals in Q3 2025, selling an estimated $75.6M.
  • BVF Inc's ten largest holdings make up 59% of its $2.47B portfolio in Q3 2025.
  • BVF Inc opened 6 new positions and closed 4 in Q3 2025.
  • BVF Inc's portfolio value fell 12% quarter-over-quarter to $2.47B.

Based on BVF Inc's 13F filing for Q3 2025, filed 14 Nov 2025.