Novo Holdings A/S

CIK 0001388325 · Q1 2026

13F Equity AUM

$1.2B

-4.2% QoQ

Positions

-2 QoQ

AUM Rank

#2,463

Top 20%

Skill Alpha (FF)

-1.5%/yr^ns

No Clear Edge

Rank #4,414 · Top 54%

vs S&P -7.0%/yr (unadj.)

Quarters Tracked

~14 years

Portfolio Concentration

Top 5: 51.3%Top 10: 73.9%Top 20: 99.7%

EWTX13.7%

BN11.5%

ASML10.2%

MIRM9.9%

MPLT6.1%

CRM6.0%

CRNX4.6%

ELVN4.1%

PCVX4.0%

PHVS4.0%

Others (12)26.1%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Healthcare69.5%

Technology16.3%

Financial Services11.5%

Consumer Cyclical2.6%

Other0.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 22Median: 3.40%Avg: 4.55%

0–0.5%

2(0.3%)

0.5–1%

1(0.5%)

1–3%

4(9.2%)

3–5%

9(32.7%)

5%+

6(57.2%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 20Unique: 2vs 20 funds

0.3%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

BlackRock, Inc.

0.5%

STATE STREET CORP

0.6%

GEODE CAPITAL MANAGEMENT, LLC

0.6%

FMR LLC

0.6%

MORGAN STANLEY

0.3%

VANGUARD CAPITAL MANAGEMENT LLC

0.5%

BANK OF AMERICA CORP /DE/

0.4%

JPMORGAN CHASE & CO

0.3%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.5%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New1Increased3Decreased7Exited3

New Positions

XENE2.3%

+485K

Increased

BBOT1.6%

+225K(+11%)

CRM6.0%

+63K(+19%)

MIRM9.9%

+61K(+5%)

Decreased

VALN0.5%

-1,247,579(-54%)

VRDN3.2%

-380,000(-16%)

ELVN4.1%

-200,000(-14%)

APGE3.1%

-120,000(-21%)

CRNX4.6%

-75,000(-5%)

PCVX4.0%

-56,160(-6%)

ASML10.2%

-19,000(-17%)

Exited

ZBIO

-1,450,000

IM8N

-200,000

IOBT

-2,512,453

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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