Q2 2026 13F · SEC CIK 1674546

Bellevue Group AG

Investment managerFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $4.8B
Reported positions: 148
Top holdings a year, 3 yrs: +21.8%
Average holding period: 3.0 yrs

Bellevue Group AG is an investment manager that reported 148 positions worth $4.8B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Amgen Inc (AMGN, 6.5%), Vertex Pharmaceuticals Inc (VRTX, 6.0%), Argenx SE (ARGNF, 5.9%). A portfolio copying its top holdings returned 21.8% a year over the last 3 years, against 20.4% for the S&P 500.

Bellevue Group AG holdings largest 50 of 148 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Bellevue Group AG 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
AMGNAmgen Inc	6.5%	2.5%	851,550	+188.3%	$308.4M
VRTXVertex Pharmaceuticals Inc	6.0%	7.2%	578,634	-15.1%	$287.4M
ARGNFArgenx SE	5.9%	5.4%	301,000	-3.8%	$279.3M
GILDGilead Sciences Inc	5.7%	3.9%	2,158,772	+84.5%	$272.7M
RVMDRevolution Medicines Inc	4.1%	3.6%	1,048,014	-32.1%	$196.3M
ORKAOruka Therapeutics Inc	3.3%	0.6%	1,657,190	+226.9%	$157.7M
INSMInsmed Inc	3.1%	—	1,393,418	—	$148.6M
SRRKScholar Rock Hldg Corp	2.8%	4.2%	2,449,547	-31.7%	$134.7M
NUVLNuvalent Inc	2.7%	2.6%	1,053,268	+0.0%	$130.1M
VRDNViridian Therapeutics Inc	2.6%	3.1%	6,731,909	+0.1%	$123.7M
RLAYRelay Therapeutics Inc	2.4%	1.8%	6,185,970	-20.6%	$115.7M
PCVXVaxcyte Inc	2.4%	1.6%	1,971,935	+65.6%	$114.6M
UTHRUnited Therapeutics Corp Del	2.1%	—	188,515	—	$102.1M
ISRGIntuitive Surgical Inc	2.1%	3.1%	254,809	-11.1%	$101.3M
REGNRegeneron Pharmaceuticals	2.1%	5.1%	157,291	-43.6%	$98.1M
CRNXCrinetics Pharmaceuticals in	2.1%	2.8%	2,620,000	-20.1%	$98.0M
BBIOBridgebio Pharma Inc	1.9%	—	1,189,506	—	$88.6M
IMCRImmunocore Hldgs PLC	1.9%	2.0%	2,788,245	-0.3%	$88.5M
ABTAbbott Laboratories	1.8%	2.8%	947,115	-17.8%	$85.9M
SYKStryker Corporation	1.8%	1.7%	268,461	+23.6%	$84.5M
MDTMedtronic PLC	1.6%	2.0%	994,233	+3.9%	$77.8M
IONSIonis Pharmaceuticals Inc	1.6%	3.3%	972,258	-46.5%	$77.1M
ELVNEnliven Therapeutics Inc	1.6%	2.2%	1,490,000	-35.8%	$75.6M
VERAVera Therapeutics Inc Class A	1.5%	1.6%	1,710,808	+0.0%	$73.4M
008064206Jade Biosciences Inc	1.4%	1.2%	3,057,996	-12.7%	$67.9M
EWEdwards Lifesciences Corp	1.4%	1.6%	739,234	-11.9%	$66.9M
RAREUltragenyx Pharmaceutical in	1.4%	1.2%	1,982,775	-16.7%	$66.2M
UNHUnitedhealth Group Inc	1.3%	1.0%	149,127	+0.6%	$62.0M
DXCMDexcom Inc	1.2%	1.2%	822,489	+4.3%	$55.4M
CLDXCelldex Therapeutics Inc New	0.9%	0.9%	1,200,000	+0.0%	$44.7M
AVLNAvalyn Pharmaceuticals Inc	0.9%	—	1,350,000	—	$44.4M
GLTODamora Therapeutics Inc	0.9%	1.4%	1,618,846	-29.6%	$42.1M
IRONDisc Medicine Inc	0.9%	0.7%	560,000	+21.9%	$41.0M
TMOThermo Fisher Scientific Inc	0.8%	0.8%	79,816	+23.9%	$40.0M
BSXBoston Scientific Corp	0.8%	2.2%	887,650	-39.5%	$37.9M
LLYEli Lilly & Co	0.8%	0.7%	29,882	-11.9%	$35.8M
CGONCg Oncology Inc	0.7%	—	493,596	—	$35.1M
IDXXIdexx Labs Inc	0.7%	1.2%	61,780	-30.7%	$32.5M
RMDResmed Inc	0.6%	0.9%	148,195	-7.0%	$28.9M
KRYSKrystal Biotech Inc	0.6%	3.0%	77,530	-83.9%	$28.8M
GLUEMonte Rosa Therapeutics Inc	0.6%	0.5%	1,190,000	-4.8%	$28.8M
DHRDanaher Corp Del	0.6%	0.9%	143,844	-28.8%	$27.4M
JNJJohnson & Johnson	0.6%	0.7%	103,280	-13.3%	$26.2M
SPTXSeaport Thereapeutics, Inc.	0.5%	—	1,100,000	—	$23.9M
PVLAPalvella Therapeutics Inc Ne	0.5%	—	155,000	—	$23.7M
ALGNAlign Technology Inc	0.5%	0.6%	139,680	+0.0%	$23.6M
ANNXAnnexon Inc	0.5%	0.7%	4,100,016	-20.5%	$23.4M
HUMHumana Inc	0.5%	—	58,398	—	$23.2M
ELVElevance Health Inc Formerly	0.5%	—	56,449	—	$21.8M
TNGXTango Therapeutics Inc	0.5%	1.2%	694,182	-71.1%	$21.7M

What Bellevue Group AG bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +44.9% /yr; S&P 500 +20.1%
3 years: +21.8% /yr; S&P 500 +20.4%
5 years: +7.6% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$4.8B	148
Q1 2026	$4.2B	155
Q4 2025	$5.3B	176
Q3 2025	$4.8B	148
Q2 2025	$4.5B	142
Q1 2025	$4.5B	148
Q4 2024	$5.2B	160
Q3 2024	$6.2B	162
Q2 2024	$6.2B	166
Q1 2024	$6.6B	169
Q4 2023	$6.5B	161
Q3 2023	$6.2B	154

Questions about Bellevue Group AG's portfolio

What stocks does Bellevue Group AG own?

Bellevue Group AG's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 148 positions worth $4.8B. The largest are Amgen Inc (AMGN) at 6.5%, Vertex Pharmaceuticals Inc (VRTX) at 6.0%, Argenx SE (ARGNF) at 5.9%, Gilead Sciences Inc (GILD) at 5.7% and Revolution Medicines Inc (RVMD) at 4.1%.

What did Bellevue Group AG buy last quarter?

In Q2 2026, Bellevue Group AG added Oruka Therapeutics Inc (ORKA) (+226.9% shares), Amgen Inc (AMGN) (+188.3% shares) and Gilead Sciences Inc (GILD) (+84.5% shares), compared with its Q1 2026 filing.

What did Bellevue Group AG sell last quarter?

In Q2 2026, Bellevue Group AG cut from its top 50 Alnylam Pharmaceuticals Inc (ALNY), cut from its top 50 Edgewise Therapeutics Inc (EWTX), cut from its top 50 Insulet Corp (PODD), cut from its top 50 Ge Healthcare Technologies I (GEHC), cut from its top 50 The Cigna Group (CI), Krystal Biotech Inc (KRYS) (-83.9% shares), Tango Therapeutics Inc (TNGX) (-71.1% shares) and Ionis Pharmaceuticals Inc (IONS) (-46.5% shares), compared with its Q1 2026 filing.

How has Bellevue Group AG's portfolio performed?

A portfolio copying Bellevue Group AG's 20 largest 13F holdings each quarter, from the day each filing was public, returned +21.8% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +44.9% against +20.1%. Over 5 years: +7.6% a year against +11.6%.

When is Bellevue Group AG's next 13F filing due?

13F filings are due 45 days after each quarter ends. Bellevue Group AG's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.