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Livermore
Livermore
ZHEN

Bellevue Group AG

SEC CIK
0001674546
Latest filing
Aug 14, 2026

The latest 13F from Bellevue Group AG covers Q2 2026 (filed Aug 14, 2026): 148 long positions worth $4.75B. The top 10 holdings make up 42.9% of the portfolio, and the largest is Amgen Inc (AMGN) at 6.5%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
17
Est. +$205.4M
Added
41
Est. +$894.5M
Reduced
66
Est. −$984.0M
Sold out
24
Est. −$70.3M

Top 5 holdings

Share of this quarter's portfolio value

  1. AMGNAmgen Inc
    6.5%$308.4MHistory
  2. VRTXVertex Pharmaceuticals Inc
    6.0%$287.4MHistory
  3. ARGXArgenx SE
    5.9%$279.3MHistory
  4. GILDGilead Sciences, Inc.
    5.7%$272.7MHistory
  5. RVMDRevolution Medicines, Inc.
    4.1%$196.3MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. AMGNAmgen Inc
    +$201.4MAddedHistory
  2. INSMINSMED Inc
    +$147.5MAddedHistory
  3. GILDGilead Sciences, Inc.
    +$124.9MAddedHistory
  4. ORKAOruka Therapeutics, Inc.
    +$109.5MAddedHistory
  5. UTHRUnited Therapeutics Corp
    +$101.0MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. AMGNAmgen Inc
    +4.02 pp2.5% → 6.5%History
  2. INSMINSMED Inc
    +3.09 pp<0.1% → 3.1%History
  3. ORKAOruka Therapeutics, Inc.
    +2.73 pp0.6% → 3.3%History
  4. UTHRUnited Therapeutics Corp
    +2.12 pp<0.1% → 2.1%History
  5. GILDGilead Sciences, Inc.
    +1.86 pp3.9% → 5.7%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. KRYSKrystal Biotech, Inc.
    −$150.2MReducedHistory
  2. RVMDRevolution Medicines, Inc.
    −$93.0MReducedHistory
  3. REGNRegeneron Pharmaceuticals, Inc.
    −$75.7MReducedHistory
  4. ALNYAlnylam Pharmaceuticals, Inc.
    −$70.3MReducedHistory
  5. IONSIonis Pharmaceuticals Inc
    −$67.1MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. REGNRegeneron Pharmaceuticals, Inc.
    −3.06 pp5.1% → 2.1%History
  2. KRYSKrystal Biotech, Inc.
    −2.36 pp3.0% → 0.6%History
  3. ALNYAlnylam Pharmaceuticals, Inc.
    −1.84 pp1.8% → <0.1%History
  4. IONSIonis Pharmaceuticals Inc
    −1.63 pp3.2% → 1.6%History
  5. BSXBoston Scientific Corp
    −1.39 pp2.2% → 0.8%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$4.75B
+$550.7M (+13.1%) vs. prior quarter
Positions
148
−7 vs. prior quarter
Top 10 concentration
42.9%
Top 10 as share of value
Turnover
23.5%
Q2 2026, one quarter
Average holding period
15.4 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $10.2B (Q2 2021)

Q1 2021: $9.45BQ2 2021: $10.2BQ3 2021: $9.85BQ4 2021: $9.70BQ1 2022: $8.61BQ2 2022: $7.07BQ3 2022: $6.97BQ4 2022: $7.53BQ1 2023: $6.89BQ2 2023: $7.01BQ3 2023: $6.21BQ4 2023: $6.54BQ1 2024: $6.56BQ2 2024: $6.15BQ3 2024: $6.17BQ4 2024: $5.19BQ1 2025: $4.46BQ2 2025: $4.54BQ3 2025: $4.81BQ4 2025: $5.28BQ1 2026: $4.20BQ2 2026: $4.75B
Q1 2021Q2 2026
13F filings of Bellevue Group AG by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 2026148$4.75BAMGNVRTXARGXvs. Q1 2026SEC
Q1 2026May 15, 2026155$4.20BVRTXARGXREGNvs. Q4 2025SEC
Q4 2025Feb 17, 2026176$5.28BRVMDARGXIONSvs. Q3 2025SEC
Q3 2025Nov 14, 2025148$4.81BIONSARGXRVMDvs. Q2 2025SEC
Q2 2025Aug 14, 2025142$4.54BARGXIONSNBIXvs. Q1 2025SEC
Q1 2025May 14, 2025148$4.46BARGXIONSSYKvs. Q4 2024SEC
Q4 2024Feb 14, 2025160$5.19BARGXIONSNBIXvs. Q3 2024SEC
Q3 2024Nov 14, 2024162$6.17BARGXIONSVRTXvs. Q2 2024SEC
Q2 2024Aug 14, 2024166$6.15BIONSARGXVRTXvs. Q1 2024SEC
Q1 2024May 15, 2024169$6.56BIONSARGXNBIXvs. Q4 2023SEC
Q4 2023Feb 14, 2024161$6.54BIONSARGXNBIXvs. Q3 2023SEC
Q3 2023Nov 14, 2023154$6.21BARGXIONSVRTXvs. Q2 2023SEC
Q2 2023Aug 14, 2023156$7.01BVRTXIONSARGXvs. Q1 2023SEC
Q1 2023May 15, 2023159$6.89BVRTXIONSARGXvs. Q4 2022SEC
Q4 2022Feb 14, 2023171$7.53BIONSARGXNBIXvs. Q3 2022SEC
Q3 2022Nov 14, 2022176$6.97BIONSVRTXARGXvs. Q2 2022SEC
Q2 2022Aug 11, 2022172$7.07BIONSARGXVRTXvs. Q1 2022SEC
Q1 2022May 13, 2022177$8.61BVRTXIONSARGXvs. Q4 2021SEC
Q4 2021Feb 10, 2022191$9.70BMRNAVRTXARGXvs. Q3 2021SEC
Q3 2021Nov 12, 2021219$9.85BMRNAVRTXIONSvs. Q2 2021SEC
Q2 2021Aug 12, 2021213$10.2BMRNAIONSVRTXvs. Q1 2021SEC
Q1 2021May 12, 2021216$9.45BIONSMRNANBIX–SEC

13D and 13G filings

Companies where Bellevue Group AG reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

3 companies, largest stake first.

Companies where Bellevue Group AG owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
VRDNViridian Therapeutics, Inc.13G6.60%6.73M sharesNewMay 15, 20261 filingMay 15, 2026SEC
IMCRImmunocore Holdings plc13G5.60%2.80M sharesNewNov 14, 20251 filingNov 14, 2025SEC
JBIOJade Biosciences, Inc.13G/A5.00%3.06M shares−1.80 ppfrom 6.80%Feb 17, 20262 filingsAug 14, 2026SEC

Latest filings

10 filings on file made by Bellevue Group AG or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Bellevue Group AG
CompanyFiled (ET)FormStakeChangeEvent dateFiling
JBIOJade Biosciences, Inc.Aug 14, 202611:57 AM ET13G/A5.00%3.06M shares−1.80 ppfrom 6.80%Jun 30, 2026SEC
VRDNViridian Therapeutics, Inc.May 15, 20262:38 PM ET13G6.60%6.73M sharesNewMar 31, 2026SEC
CLDXCelldex Therapeutics, Inc.May 15, 20262:37 PM ET13G/A1.50%1.20M shares−3.90 ppfrom 5.40%Below 5%Mar 31, 2026SEC
JBIOJade Biosciences, Inc.Feb 17, 20264:01 PM ET13G6.80%3.34M sharesNewDec 16, 2025SEC
MGNXMacrogenics IncJan 6, 20267:27 PM ET13G/A0.00%0 shares−15.70 ppfrom 15.70%Below 5%Dec 5, 2025SEC
AGIOAgios Pharmaceuticals, Inc.Dec 5, 20255:42 PM ET13G/A0.00%0 shares−6.10 ppfrom 6.10%Below 5%Nov 19, 2025SEC
IMCRImmunocore Holdings plcNov 14, 20258:00 PM ET13G5.60%2.80M sharesNewAug 20, 2025SEC
CLDXCelldex Therapeutics, Inc.Nov 14, 20257:58 PM ET13G5.40%3.62M sharesNewAug 18, 2025SEC
AGIOAgios Pharmaceuticals, Inc.Jul 7, 20257:32 PM ET13G6.10%3.52M sharesNewJun 1, 2025SEC
MGNXMacrogenics IncJul 7, 20257:20 PM ET13G15.70%9.93M sharesNewJun 1, 2025SEC