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NHAS
Novo Holdings A/S Portfolio holdings
AUM
$1.23B
1-Year Est. Return
81.32%
This Fund
S&P 500
This Quarter
Est. Return
+17.59%
1 Year Est. Return
+81.32%
3 Year Est. Return
+192.63%
5 Year Est. Return
+125.03%
10 Year Est. Return
+943.65%
AUM
$1.29B
AUM Growth
-$264M
(-17%)
Cap. Flow
-$418M
Cap. Flow
% of AUM
-32.48%
Top 10 Holdings %
Top 10 Hldgs %
71.3%
Holding
28
New
1
Increased
3
Reduced
3
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
MPLT
MapLight Therapeutics
MPLT
|
+$61.8M |
| 2 |
4D Molecular Therapeutics
FDMT
|
+$16.7M |
| 3 |
Apogee Therapeutics
APGE
|
+$4.41M |
| 4 |
Enliven Therapeutics
ELVN
|
+$1.07M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Total Stock Market ETF
VTI
|
+$341M |
| 2 |
MRUS
Merus
MRUS
|
+$70.6M |
| 3 |
Recursion Pharmaceuticals
RXRX
|
+$38.7M |
| 4 |
ASML
ASML
|
+$33.3M |
| 5 |
ZBIO
Zenas BioPharma
ZBIO
|
+$18.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 68.02% |
| 2 | Technology | 16.42% |
| 3 | Financials | 12.46% |
| 4 | Consumer Discretionary | 2.93% |
| 5 | Industrials | 0.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Brookfield
BN
$102B
| $160M | 12.46% |
3,496,245
| – | – |
|
2
Edgewise Therapeutics
EWTX
$4.28B
| $133M | 10.31% |
5,350,000
| – | – |
|
|
3
ASML
ASML
$596B
| $122M | 9.47% |
113,946
-31,890
| -22% | -$33.3M |
|
4
Mirum Pharmaceuticals
MIRM
$6.56B
| $99.8M | 7.75% |
1,264,028
| – | – |
|
5
Salesforce
CRM
$154B
| $87.5M | 6.79% |
330,187
| – | – |
|
6
Crinetics Pharmaceuticals
CRNX
$8.88B
| $75.6M | 5.87% |
1,625,000
| – | – |
|
7
Viridian Therapeutics
VRDN
$2.2B
| $74.1M | 5.75% |
2,380,000
| – | – |
|
|
MPLT
8
MapLight Therapeutics
MPLT
$681M
| $64.8M | 5.03% |
+3,686,622
| New | +$61.8M |
|
|
ZBIO
9
Zenas BioPharma
ZBIO
$1.96B
| $52.6M | 4.09% |
1,450,000
-550,000
| -28% | -$18.1M |
|
10
Pharvaris
PHVS
$2.28B
| $48.6M | 3.77% |
1,750,000
| – | – |
|
|
11
Apogee Therapeutics
APGE
$10.1B
| $43M | 3.34% |
570,000
+70,000
| +14% | +$4.41M |
|
12
Vaxcyte
PCVX
$7.65B
| $42.3M | 3.28% |
916,160
| – | – |
|
13
BioMarin Pharmaceuticals
BMRN
$11.9B
| $39.2M | 3.05% |
660,000
| – | – |
|
14
ArriVent BioPharma
AVBP
$1.4B
| $39.1M | 3.03% |
1,942,142
| – | – |
|
15
Alibaba
BABA
$276B
| $37.7M | 2.93% |
257,327
| – | – |
|
16
Insmed
INSM
$22.4B
| $34.8M | 2.7% |
200,000
| – | – |
|
17
Celldex Therapeutics
CLDX
$2.94B
| $32.6M | 2.53% |
1,200,000
| – | – |
|
|
18
4D Molecular Therapeutics
FDMT
$502M
| $27.4M | 2.13% |
3,650,737
+1,650,737
| +83% | +$16.7M |
|
|
BBOT
19
BridgeBio Oncology
BBOT
$659M
| $24.6M | 1.91% |
1,961,317
| – | – |
|
|
20
Enliven Therapeutics
ELVN
$3.78B
| $22.8M | 1.77% |
1,480,000
+53,740
| +4% | +$1.07M |
|
|
VALN
21
Valneva
VALN
$518M
| $20.3M | 1.58% |
2,305,000
-40,000
| -2% | -$371K |
|
22
LanzaTech
LNZA
$59.9M
| $2.18M | 0.17% |
158,148
| – | – |
|
23
Marqeta
MQ
$1.93B
| $2.1M | 0.16% |
110,390
| – | – |
|
|
IOBT
24
DELISTED
IO Biotech
IOBT
| $1.53M | 0.12% |
2,512,453
| – | – |
|
|
DMRA
25
Damora Therapeutics, Inc. Ordinary Shares
DMRA
$1.74B
| – | – |
-86,579
| Closed | -$322K |
|
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Novo Holdings A/S's Q4 2025 Portfolio in Review
As of Q4 2025, Novo Holdings A/S held 28 positions worth $1.29B, down 17% from $1.55B the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Novo Holdings A/S withdrew a net $418M in Q4 2025, closing 4 positions and reducing 3 holdings. Its most notable exit was Vanguard Total Stock Market ETF, an estimated $341M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 68% of assets, up from 50% a quarter earlier, followed by Technology and Financials.
Against the trend, Novo Holdings A/S opened a new position in MapLight Therapeutics worth $64.8M.
- Novo Holdings A/S's largest Q4 2025 buy was MapLight Therapeutics: 3,686,622 shares worth $64.8M.
- Novo Holdings A/S added most to 4D Molecular Therapeutics in Q4 2025, an estimated $16.7M increase.
- Novo Holdings A/S's biggest Q4 2025 reduction was ASML, cutting an estimated $33.3M.
- Novo Holdings A/S fully exited Vanguard Total Stock Market ETF in Q4 2025, selling an estimated $341M.
- Novo Holdings A/S's ten largest holdings make up 71% of its $1.29B portfolio in Q4 2025.
- Novo Holdings A/S opened 1 new position and closed 4 in Q4 2025.
- Novo Holdings A/S's portfolio value fell 17% quarter-over-quarter to $1.29B.
Based on Novo Holdings A/S's 13F filing for Q4 2025, filed 17 Feb 2026.