Bellevue Group AG

ZURICH, V8 · CIK 1674546 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityBELLEVUE GROUP AG (CH)

Other 13F filers in this group: Bellevue Asset Management AG files a notice

$4.8bn reported value +13.1% vs Q1 2026

148positions

42.9%in top 10

17 new 41 added 66 reduced 24 sold out vs Q1 2026

This report includes the holdings of 2 other managers that share the investment decisions:

BB BIOTECH AG – reports through this filing
Bellevue Asset Management AG – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	AMGEN INC COM AMGN	AMGN	851,550	$308.4m6.49%	6.49%	Added +556.2k	+556,192 188.3%
2	VERTEX PHARMACEUTICALS INC COM VRTX	VRTX	578,634	$287.4m6.05%	6.05%	Reduced -103.3k	-103,274 -15.1%
3	ARGENX SE SPONSORED ADR ARGX	ARGX	301,000	$279.3m5.88%	5.88%	Reduced -12.0k	-12,000 -3.8%
4	GILEAD SCIENCES INC COM GILD	GILD	2,158,772	$272.7m5.74%	5.74%	Added +988.9k	+988,893 84.5%
5	REVOLUTION MEDICINES INC COM RVMD	RVMD	1,048,014	$196.3m4.13%	4.13%	Reduced -496.4k	-496,442 -32.1%
6	ORUKA THERAPEUTICS INC COM ORKA	ORKA	1,657,190	$157.7m3.32%	3.32%	Added +1.2m	+1,150,182 226.9%
7	INSMED INC COM PAR $.01 INSM	INSM	1,393,418	$148.6m3.13%	3.13%	Added +1.4m	+1,383,384 13787.0%
8	SCHOLAR ROCK HLDG CORP COM SRRK	SRRK	2,449,547	$134.7m2.83%	2.83%	Reduced -1.1m	-1,135,026 -31.7%
9	NUVALENT INC COM COM		1,053,268	$130.1m2.74%	2.74%	Unchanged
10	VIRIDIAN THERAPEUTICS INC COM VRDN	VRDN	6,731,909	$123.7m2.60%	2.60%	Added +5.8k	+5,765 0.1%
11	RELAY THERAPEUTICS INC COM RLAY	RLAY	6,185,970	$115.7m2.44%	2.44%	Reduced -1.6m	-1,609,272 -20.6%
12	VAXCYTE INC COM PCVX	PCVX	1,971,935	$114.6m2.41%	2.41%	Added +781.2k	+781,238 65.6%
13	UNITED THERAPEUTICS CORP DEL COM UTHR	UTHR	188,515	$102.1m2.15%	2.15%	Added +186.4k	+186,438 8976.3%
14	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	254,809	$101.3m2.13%	2.13%	Reduced -31.8k	-31,845 -11.1%
15	REGENERON PHARMACEUTICALS COM REGN	REGN	157,291	$98.1m2.06%	2.06%	Reduced -121.4k	-121,383 -43.6%
16	CRINETICS PHARMACEUTICALS IN COM CRNX	CRNX	2,620,000	$98.0m2.06%	2.06%	Reduced -660.0k	-660,000 -20.1%
17	BRIDGEBIO PHARMA INC COM BBIO	BBIO	1,189,506	$88.6m1.86%	1.86%	Added +1.2m	+1,164,129 4587.3%
18	IMMUNOCORE HLDGS PLC ADS IMCR	IMCR	2,788,245	$88.5m1.86%	1.86%	Reduced -8.6k	-8,558 -0.3%
19	ABBOTT LABS COM ABT	ABT	947,115	$85.9m1.81%	1.81%	Reduced -204.5k	-204,520 -17.8%
20	STRYKER CORPORATION COM SYK	SYK	268,461	$84.5m1.78%	1.78%	Added +51.2k	+51,224 23.6%
21	MEDTRONIC PLC SHS MDT	MDT	994,233	$77.8m1.64%	1.64%	Added +36.9k	+36,904 3.9%
22	IONIS PHARMACEUTICALS INC COM IONS	IONS	972,258	$77.1m1.62%	1.62%	Reduced -846.4k	-846,407 -46.5%
23	ENLIVEN THERAPEUTICS INC COM ELVN	ELVN	1,490,000	$75.6m1.59%	1.59%	Reduced -830.9k	-830,867 -35.8%
24	VERA THERAPEUTICS INC CL A VERA	VERA	1,710,808	$73.4m1.54%	1.54%	Added +37	+37 0.0%
25	JADE BIOSCIENCES INC COM NEW JBIO	JBIO	3,057,996	$67.9m1.43%	1.43%	Reduced -443.5k	-443,506 -12.7%
26	EDWARDS LIFESCIENCES CORP COM EW	EW	739,234	$66.9m1.41%	1.41%	Reduced -100.2k	-100,217 -11.9%
27	ULTRAGENYX PHARMACEUTICAL IN COM RARE	RARE	1,982,775	$66.2m1.39%	1.39%	Reduced -397.2k	-397,225 -16.7%
28	UNITEDHEALTH GROUP INC COM UNH	UNH	149,127	$62.0m1.30%	1.30%	Added +924	+924 0.6%
29	DEXCOM INC COM DXCM	DXCM	822,489	$55.4m1.17%	1.17%	Added +33.7k	+33,723 4.3%
30	CELLDEX THERAPEUTICS INC NEW COM NEW CLDX	CLDX	1,200,000	$44.7m0.94%	0.94%	Unchanged
31	AVALYN PHARMACEUTICALS INC COM SHS AVLN	AVLN	1,350,000	$44.4m0.94%	0.94%	New
32	DAMORA THERAPEUTICS INC COM NEW COM NEW		1,618,846	$42.1m0.89%	0.89%	Reduced -679.2k	-679,154 -29.6%
33	DISC MEDICINE INC COM IRON	IRON	560,000	$41.0m0.86%	0.86%	Added +100.7k	+100,686 21.9%
34	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	79,816	$40.0m0.84%	0.84%	Added +15.4k	+15,404 23.9%
35	BOSTON SCIENTIFIC CORP COM BSX	BSX	887,650	$37.9m0.80%	0.80%	Reduced -579.2k	-579,244 -39.5%
36	ELI LILLY & CO COM LLY	LLY	29,882	$35.8m0.75%	0.75%	Reduced -4.0k	-4,050 -11.9%
37	CG ONCOLOGY INC COM CGON	CGON	493,596	$35.1m0.74%	0.74%	New
38	IDEXX LABS INC COM IDXX	IDXX	61,780	$32.5m0.68%	0.68%	Reduced -27.4k	-27,351 -30.7%
39	RESMED INC COM RMD	RMD	148,195	$28.9m0.61%	0.61%	Reduced -11.2k	-11,151 -7.0%
40	KRYSTAL BIOTECH INC COM KRYS	KRYS	77,530	$28.8m0.61%	0.61%	Reduced -404.3k	-404,255 -83.9%
41	MONTE ROSA THERAPEUTICS INC COM GLUE	GLUE	1,190,000	$28.8m0.61%	0.61%	Reduced -60.0k	-60,000 -4.8%
42	DANAHER CORPORATION COM DHR	DHR	143,844	$27.4m0.58%	0.58%	Reduced -58.3k	-58,320 -28.9%
43	JOHNSON & JOHNSON COM JNJ	JNJ	103,280	$26.2m0.55%	0.55%	Reduced -15.8k	-15,822 -13.3%
44	SEAPORT THERAPEUTICS INC COMMON STOCK SPTX	SPTX	1,100,000	$23.9m0.50%	0.50%	New
45	PALVELLA THERAPEUTICS INC NE COM PVLA	PVLA	155,000	$23.7m0.50%	0.50%	New
46	ALIGN TECHNOLOGY INC COM ALGN	ALGN	139,680	$23.6m0.50%	0.50%	Unchanged
47	ANNEXON INC COM ANNX	ANNX	4,100,016	$23.4m0.49%	0.49%	Reduced -1.1m	-1,057,274 -20.5%
48	HUMANA INC COM HUM	HUM	58,398	$23.2m0.49%	0.49%	Reduced -6.1k	-6,100 -9.5%
49	ELEVANCE HEALTH INC COM ELV	ELV	56,449	$21.8m0.46%	0.46%	Added +3.9k	+3,931 7.5%
50	TANGO THERAPEUTICS INC COM TNGX	TNGX	694,182	$21.7m0.46%	0.46%	Reduced -1.7m	-1,705,818 -71.1%
51	STERIS PLC SHS USD STE	STE	99,877	$21.0m0.44%	0.44%	Reduced -1	-1 0.0%
52	SPYRE THERAPEUTICS INC COM NEW SYRE	SYRE	229,931	$20.4m0.43%	0.43%	New
53	HEMAB THERAPEUTICS HLDGS INC COM SHS COAG	COAG	550,000	$20.2m0.43%	0.43%	New
54	INSULET CORP COM PODD	PODD	127,498	$19.4m0.41%	0.41%	Reduced -36.2k	-36,158 -22.1%
55	THE CIGNA GROUP COM CI	CI	66,500	$18.3m0.39%	0.39%	Reduced -31.8k	-31,763 -32.3%
56	GLAUKOS CORP COM GKOS	GKOS	128,667	$18.0m0.38%	0.38%	Reduced -17.0k	-17,036 -11.7%
57	CVS HEALTH CORP COM CVS	CVS	169,366	$17.5m0.37%	0.37%	Added +80.0k	+80,003 89.5%
58	BECTON DICKINSON & CO COM BDX	BDX	109,729	$16.6m0.35%	0.35%	Reduced -12.2k	-12,158 -10.0%
59	GE HEALTHCARE TECHNOLOGIES I COMMON STOCK GEHC	GEHC	252,744	$16.2m0.34%	0.34%	Reduced -164.1k	-164,143 -39.4%
60	LIVANOVA PLC SHS LIVN	LIVN	195,621	$16.1m0.34%	0.34%	Added +9.4k	+9,436 5.1%
61	CENTENE CORP DEL COM CNC	CNC	228,865	$14.7m0.31%	0.31%	Reduced -32.2k	-32,201 -12.3%
62	MERCK & CO INC COM MRK	MRK	113,061	$14.5m0.31%	0.31%	Reduced -93.5k	-93,530 -45.3%
63	COOPER COS INC COM COO	COO	197,135	$14.1m0.30%	0.30%	Reduced -75.0k	-75,049 -27.6%
64	PARABILIS MEDICINES INC COM PBLS	PBLS	500,000	$13.7m0.29%	0.29%	New
65	TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS SPONSORED ADS		345,899	$11.7m0.25%	0.25%	Added +95.8k	+95,817 38.3%
66	GLOBUS MED INC CL A GMED	GMED	146,108	$11.5m0.24%	0.24%	Reduced -101.2k	-101,153 -40.9%
67	PROCEPT BIOROBOTICS CORP COM PRCT	PRCT	502,286	$11.3m0.24%	0.24%	Unchanged
68	ZIMMER BIOMET HOLDINGS INC COM ZBH	ZBH	126,707	$10.9m0.23%	0.23%	Reduced -28.9k	-28,864 -18.6%
69	VEEVA SYS INC CL A COM VEEV	VEEV	59,347	$10.5m0.22%	0.22%	Added +2.8k	+2,830 5.0%
70	ABBVIE INC COM ABBV	ABBV	40,476	$10.2m0.21%	0.21%	Reduced -53.1k	-53,091 -56.7%
71	10X GENOMICS INC CL A COM TXG	TXG	261,470	$10.0m0.21%	0.21%	Reduced -68.0k	-68,022 -20.6%
72	HCA HEALTHCARE INC COM HCA	HCA	23,750	$9.3m0.19%	0.19%	Reduced -14.0k	-14,015 -37.1%
73	AURA BIOSCIENCES INC COM AURA	AURA	1,166,667	$8.3m0.17%	0.17%	New
74	MCKESSON CORP COM MCK	MCK	9,625	$7.3m0.15%	0.15%	Reduced -12.7k	-12,727 -56.9%
75	TENET HEALTHCARE CORP COM NEW THC	THC	38,868	$7.3m0.15%	0.15%	Added +599	+599 1.6%
76	PROTAGONIST THERAPEUTICS INC COM PTGX	PTGX	55,682	$6.8m0.14%	0.14%	Added +41.2k	+41,235 285.4%
77	NATERA INC COM NTRA	NTRA	24,806	$6.7m0.14%	0.14%	Reduced -6.9k	-6,888 -21.7%
78	TRANSMEDICS GROUP INC COM TMDX	TMDX	101,139	$6.7m0.14%	0.14%	Unchanged
79	MOLINA HEALTHCARE INC COM MOH	MOH	27,761	$6.3m0.13%	0.13%	New
80	ALKERMES PLC SHS ALKS	ALKS	120,243	$6.3m0.13%	0.13%	Added +111.4k	+111,373 1255.6%
81	ROYALTY PHARMA PLC SHS CLASS A RPRX	RPRX	112,311	$6.3m0.13%	0.13%	Added +74.0k	+74,015 193.3%
82	WAYSTAR HLDG CORP COM WAY	WAY	293,592	$6.0m0.13%	0.13%	Added +37.5k	+37,453 14.6%
83	PRIVIA HEALTH GROUP INC COM PRVA	PRVA	226,703	$5.8m0.12%	0.12%	Unchanged
84	GMR SOLUTIONS INC COM CL A GMRS	GMRS	333,333	$5.2m0.11%	0.11%	New
85	NEUROCRINE BIOSCIENCES INC COM NBIX	NBIX	24,037	$4.1m0.09%	0.09%	Added +19.4k	+19,391 417.4%
86	OMADA HEALTH INC COM OMDA	OMDA	157,938	$3.5m0.07%	0.07%	Unchanged
87	KESTRA MED TECHNOLOGIES LTD SHS KMTS	KMTS	129,215	$3.3m0.07%	0.07%	Added +13.6k	+13,625 11.8%
88	MEDLINE INC COM CL A MDLN	MDLN	82,153	$3.2m0.07%	0.07%	Reduced -54.5k	-54,482 -39.9%
89	ILLUMINA INC COM ILMN	ILMN	18,134	$3.2m0.07%	0.07%	Reduced -2.1k	-2,089 -10.3%
90	BEIGENE LTD SPONSORED ADR ONC	ONC	10,474	$3.0m0.06%	0.06%	Added +6.7k	+6,662 174.8%
91	NEWAMSTERDAM PHARMA COMPANY ORDINARY SHARES NAMS	NAMS	86,994	$2.9m0.06%	0.06%	Added +59.3k	+59,333 214.5%
92	MADRIGAL PHARMACEUTICALS INC COM MDGL	MDGL	4,675	$2.5m0.05%	0.05%	Added +1.6k	+1,635 53.8%
93	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	2,700	$2.0m0.04%	0.04%	Unchanged
94	BIONTECH SE SPONSORED ADS BNTX	BNTX	21,229	$2.0m0.04%	0.04%	Added +378	+378 1.8%
95	ADAPTIVE BIOTECHNOLOGIES COR COM ADPT	ADPT	89,439	$1.9m0.04%	0.04%	Added +13.3k	+13,258 17.4%
96	CYTOKINETICS INC COM NEW CYTK	CYTK	19,007	$1.6m0.03%	0.03%	Added +10.2k	+10,166 115.0%
97	ALAMAR BIOSCIENCES INC COMMON STOCK ALMR	ALMR	55,738	$1.5m0.03%	0.03%	New
98	PHREESIA INC COM PHR	PHR	140,495	$1.4m0.03%	0.03%	Added +9.5k	+9,503 7.2%
99	MOBIA MED INC COMMON STOCK MOBI	MOBI	100,000	$1.3m0.03%	0.03%	New
100	BILLIONTOONE INC CL A BLLN	BLLN	10,554	$1.3m0.03%	0.03%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
EDGEWISE THERAPEUTICS INC EWTX	EWTX	1,528,518	$48.1m1.5m shares
INSPIRE MED SYS INC INSP	INSP	99,735	$5.1m99.7k shares
PENUMBRA INC PEN	PEN	12,267	$4.0m12.3k shares
ATRIUM THERAPEUTICS INC RNA	RNA	263,096	$3.5m263.1k shares
MASIMO CORP MASI	MASI	8,753	$1.6m8.8k shares
EQUINOR ASA EQNR	EQNR	17,573	$741.6k17.6k shares
EXXON MOBIL CORP XOM	XOM	4,370	$741.4k4.4k shares
BP PLC BP	BP	15,644	$735.3k15.6k shares
SHELL PLC SHEL	SHEL	7,844	$729.5k7.8k shares
CISCO SYS INC CSCO	CSCO	8,000	$620.7k8.0k shares
ALIBABA GROUP HLDG LTD BABA	BABA	4,700	$589.7k4.7k shares
PROCTER AND GAMBLE CO PG	PG	3,900	$563.3k3.9k shares
MASTERCARD INCORPORATED MA	MA	1,100	$549.6k1.1k shares
BLACKROCK INC BLK	BLK	450	$432.8k450 shares
VISA INC V	V	1,400	$423.1k1.4k shares
CENTESSA PHARMACEUTICALS PLC		9,030	$358.7k9.0k shares
JD.COM INC JD	JD	11,000	$325.3k11.0k shares
ACCENTURE PLC IRELAND ACN	ACN	1,500	$297.4k1.5k shares
ADOBE INC ADBE	ADBE	1,200	$291.7k1.2k shares
OLEMA PHARMACEUTICALS INC OLMA	OLMA	16,443	$245.2k16.4k shares
ASCENDIS PHARMA A/S		536	$122.6k536 shares
BRIDGEBIO ONCOLOGY THERAPEUT BBOT	BBOT	6,982	$62.5k7.0k shares
WAVE LIFE SCIENCES LTD 96663EUR	96663EUR	5,261	$38.1k5.3k shares
QIAGEN NV QGEN	QGEN	243	$9.7k243 shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
VIRIDIAN THERAPEUTICS INC VRDN · 13G · filed 2026-05-15	VRDN	6.6%≈ $123.6m	new	13G	2026-05-15
IMMUNOCORE HLDGS PLC IMCR · 13G · filed 2025-11-14	IMCR	5.6%	new	13G	2025-11-14
JADE BIOSCIENCES INC JBIO · 13G · filed 2026-08-14	JBIO	5.0%≈ $67.9m	-1.8 pts	13G	2026-08-14