Novo Holdings A/S Long-Term Concentrated

Location: Hellerup, Denmark

CIK: 0001388325 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 14, 2025

Total Value: $1.552B (100.0% shares, 0.0% debt)

Holdings (27)

VTI VANGUARD INDEX FDS 22.0%

Value $341M Shares 1,038,550 Share Price $328.17 Est. Cost/Share $267.51 Unrealized @ Report Date —

BN BROOKFIELD CORP 10.3%

Value $160M Shares 2,330,830 Share Price $68.58 * Est. Cost/Share $22.16 Unrealized @ Report Date +99.4%

ASML ASML HOLDING N V 9.1%

Value $141M Shares 145,836 Share Price $968.09 Est. Cost/Share $662.32 Unrealized @ Report Date —

MIRM MIRUM PHARMACEUTICALS INC 6.0%

Value $92.67M Shares 1,264,028 Share Price $73.31 * Est. Cost/Share $12.27 Unrealized @ Report Date +418.3%

EWTX EDGEWISE THERAPEUTICS INC 5.6%

Value $86.78M Shares 5,350,000 Share Price $16.22 * Est. Cost/Share $18.02 Unrealized @ Report Date -21.3%

CRM SALESFORCE INC 5.0%

Value $78.25M Shares 330,187 Share Price $237.00 * Est. Cost/Share $205.72 Unrealized @ Report Date +22.2%

— MERUS N V 4.6%

Value $70.61M Shares 750,000 Share Price $94.15 Est. Cost/Share $56.95 Unrealized @ Report Date —

CRNX CRINETICS PHARMACEUTICALS IN 4.4%

Value $67.68M Shares 1,625,000 Share Price $41.65 * Est. Cost/Share $25.38 Unrealized @ Report Date +26.0%

VRDN VIRIDIAN THERAPEUTICS INC 3.3%

Value $51.36M Shares 2,380,000 Share Price $21.58 * Est. Cost/Share $16.63 Unrealized @ Report Date +8.5%

BABA ALIBABA GROUP HLDG LTD 3.0%

Value $45.99M Shares 257,327 Share Price $178.73 Est. Cost/Share $165.09 Unrealized @ Report Date —

ZBIO ZENAS BIOPHARMA INC 2.9%

Value $44.4M Shares 2,000,000 Share Price $22.20 * Est. Cost/Share $14.60 Unrealized @ Report Date +11.5%

PHVS PHARVARIS N V 2.8%

Value $43.66M Shares 1,750,000 Share Price $24.95 * Est. Cost/Share $15.36 Unrealized @ Report Date +44.4%

RXRX RECURSION PHARMACEUTICALS IN 2.5%

Value $38.7M Shares 7,929,835 Share Price $4.88 * Est. Cost/Share $6.72 Unrealized @ Report Date -21.9%

AVBP ARRIVENT BIOPHARMA INC 2.3%

Value $35.83M Shares 1,942,142 Share Price $18.45 * Est. Cost/Share $20.49 Unrealized @ Report Date -4.1%

BMRN BIOMARIN PHARMACEUTICAL INC 2.3%

Value $35.75M Shares 660,000 Share Price $54.16 * Est. Cost/Share $77.70 Unrealized @ Report Date -26.4%

PCVX VAXCYTE INC 2.1%

Value $33M Shares 916,160 Share Price $36.02 * Est. Cost/Share $39.88 Unrealized @ Report Date -16.9%

CLDX CELLDEX THERAPEUTICS INC NEW 2.0%

Value $31.04M Shares 1,200,000 Share Price $25.87 * Est. Cost/Share $34.88 Unrealized @ Report Date -33.6%

ELVN ENLIVEN THERAPEUTICS INC 1.9%

Value $29.2M Shares 1,426,260 Share Price $20.47 Est. Cost/Share $19.23 Unrealized @ Report Date +4.9%

INSM INSMED INC 1.9%

Value $28.8M Shares 200,000 Share Price $144.01 * Est. Cost/Share $23.10 Unrealized @ Report Date +430.3%

VALN VALNEVA SE 1.8%

Value $28.61M Shares 2,345,000 Share Price $12.20 Est. Cost/Share $5.67 Unrealized @ Report Date —

BBOT BRIDGEBIO ONCOLOGY THERAPEUT 1.5%

Value $22.71M Shares 1,961,317 Share Price $11.58 Est. Cost/Share $11.58 Unrealized @ Report Date —

APGE APOGEE THERAPEUTICS INC 1.3%

Value $19.86M Shares 500,000 Share Price $39.73 * Est. Cost/Share $38.06 Unrealized @ Report Date +0.3%

FDMT 4D MOLECULAR THERAPEUTICS IN 1.1%

Value $17.38M Shares 2,000,000 Share Price $8.69 * Est. Cost/Share $14.31 Unrealized @ Report Date -58.2%

LNZA LANZATECH GLOBAL INC 0.2%

Value $3.876M Shares 158,148 Share Price $24.51 * Est. Cost/Share $28.70 Unrealized @ Report Date 0.0%

MQ MARQETA INC 0.2%

Value $2.331M Shares 441,558 Share Price $5.28 * Est. Cost/Share $22.37 Unrealized @ Report Date -73.5%

IOBT IO BIOTECH INC 0.1%

Value $912K Shares 2,512,453 Share Price $0.36 * Est. Cost/Share $6.26 Unrealized @ Report Date -72.5%

GLTO GALECTO INC 0.0%

Value $322K Shares 86,579 Share Price $3.72 * Est. Cost/Share $13.05 Unrealized @ Report Date -74.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
VTI	VANGUARD INDEX FDS	1,038,550	$341M	22.0%	$328.17	$267.51	—	TOTAL STK MKT	922908769
BN	BROOKFIELD CORP	2,330,830	$160M	10.3%	$68.58 *	$22.16	+99.4%	CL A LTD VT SH	11271J107
ASML	ASML HOLDING N V	145,836	$141M	9.1%	$968.09	$662.32	—	N Y REGISTRY SHS	N07059210
MIRM	MIRUM PHARMACEUTICALS INC	1,264,028	$92.67M	6.0%	$73.31 *	$12.27	+418.3%	COM	604749101
EWTX	EDGEWISE THERAPEUTICS INC	5,350,000	$86.78M	5.6%	$16.22 *	$18.02	-21.3%	COM	28036F105
CRM	SALESFORCE INC	330,187	$78.25M	5.0%	$237.00 *	$205.72	+22.2%	COM	79466L302
—	MERUS N V	750,000	$70.61M	4.6%	$94.15	$56.95	—	COM	N5749R100
CRNX	CRINETICS PHARMACEUTICALS IN	1,625,000	$67.68M	4.4%	$41.65 *	$25.38	+26.0%	COM	22663K107
VRDN	VIRIDIAN THERAPEUTICS INC	2,380,000	$51.36M	3.3%	$21.58 *	$16.63	+8.5%	COM	92790C104
BABA	ALIBABA GROUP HLDG LTD	257,327	$45.99M	3.0%	$178.73	$165.09	—	SPONSORED ADS	01609W102
ZBIO	ZENAS BIOPHARMA INC	2,000,000	$44.4M	2.9%	$22.20 *	$14.60	+11.5%	COM	98937L105
PHVS	PHARVARIS N V	1,750,000	$43.66M	2.8%	$24.95 *	$15.36	+44.4%	COM	N69605108
RXRX	RECURSION PHARMACEUTICALS IN	7,929,835	$38.7M	2.5%	$4.88 *	$6.72	-21.9%	CL A	75629V104
AVBP	ARRIVENT BIOPHARMA INC	1,942,142	$35.83M	2.3%	$18.45 *	$20.49	-4.1%	COM	04272N102
BMRN	BIOMARIN PHARMACEUTICAL INC	660,000	$35.75M	2.3%	$54.16 *	$77.70	-26.4%	COM	09061G101
PCVX	VAXCYTE INC	916,160	$33M	2.1%	$36.02 *	$39.88	-16.9%	COM	92243G108
CLDX	CELLDEX THERAPEUTICS INC NEW	1,200,000	$31.04M	2.0%	$25.87 *	$34.88	-33.6%	COM NEW	15117B202
ELVN	ENLIVEN THERAPEUTICS INC	1,426,260	$29.2M	1.9%	$20.47	$19.23	+4.9%	COM	29337E102
INSM	INSMED INC	200,000	$28.8M	1.9%	$144.01 *	$23.10	+430.3%	COM PAR $.01	457669307
VALN	VALNEVA SE	2,345,000	$28.61M	1.8%	$12.20	$5.67	—	SPONSORED ADS	92025Y103
BBOT	BRIDGEBIO ONCOLOGY THERAPEUT	1,961,317	$22.71M	1.5%	$11.58	$11.58	—	COM NEW	107924102
APGE	APOGEE THERAPEUTICS INC	500,000	$19.86M	1.3%	$39.73 *	$38.06	+0.3%	COM	03770N101
FDMT	4D MOLECULAR THERAPEUTICS IN	2,000,000	$17.38M	1.1%	$8.69 *	$14.31	-58.2%	COM	35104E100
LNZA	LANZATECH GLOBAL INC	158,148	$3.876M	0.2%	$24.51 *	$28.70	0.0%	COM NEW	51655R200
MQ	MARQETA INC	441,558	$2.331M	0.2%	$5.28 *	$22.37	-73.5%	CLASS A COM	57142B104
IOBT	IO BIOTECH INC	2,512,453	$912K	0.1%	$0.36 *	$6.26	-72.5%	COM	449778109
GLTO	GALECTO INC	86,579	$322K	0.0%	$3.72 *	$13.05	-74.0%	COM NEW	36322Q206