Bellevue Group AG

CIK 0001674546 · Q1 2026

13F Equity AUM

$4.2B

-20.4% QoQ

Positions

155

-21 QoQ

AUM Rank

#1,129

Top 9%

Skill Alpha (FF)

-0.3%/yr^ns

No Clear Edge

Rank #2,729 · Top 33%

vs S&P -4.5%/yr (unadj.)

Quarters Tracked

~10 years

Portfolio Concentration

Top 5: 25.9%Top 10: 42.0%Top 20: 64.7%

VRTX7.3%

ARGX5.4%

REGN5.1%

SRRK4.2%

GILD3.9%

RVMD3.6%

ISI3.3%

ISRG3.1%

VRDN3.1%

KRYS3.0%

Others (145)58.0%

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

Sector Allocation

Healthcare99.5%

Other0.5%

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

Position Sizing

Positions: 155Median: 0.05%Avg: 0.65%

0–0.5%

107(8.1%)

0.5–1%

17(12.1%)

1–3%

22(40.8%)

3–5%

6(21.2%)

5%+

3(17.8%)

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

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Portfolio Overlap

Shared: 155Unique: 0vs 20 funds

2.1%Low

155

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.

3.9%

MORGAN STANLEY

2.9%

BANK OF AMERICA CORP /DE/

3.2%

STATE STREET CORP

4.4%

FMR LLC

5.2%

GEODE CAPITAL MANAGEMENT, LLC

4.3%

JPMORGAN CHASE & CO

VANGUARD CAPITAL MANAGEMENT LLC

VANGUARD PORTFOLIO MANAGEMENT LLC

4.8%

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

New19Increased34Decreased87Exited40

New Positions

ELVN2.2%

+2.3M

PCVX1.6%

+1.2M

DMRA1.4%

+2.3M

IRON0.7%

+459K

ORKA0.6%

+507K

GLUE0.5%

+1.3M

LIVN0.3%

+186K

ATRIUM THERAPEUTICS …0.1%

+263K

EQNR0.0%

+18K

BP0.0%

+16K

Increased

CRNX2.8%

+3.3M(+81088%)

RARE1.2%

+2.4M(+92148%)

VRDN3.1%

+2.4M(+54%)

GILD3.9%

+1.1M(+2118%)

AMGN2.5%

+277K(+1497%)

REGN5.1%

+265K(+1901%)

MDT2.0%

+191K(+25%)

JBIO1.2%

+160K(+5%)

MRK0.6%

+114K(+124%)

KRYS3.0%

+71K(+17%)

Decreased

RVMD3.6%

-3,461,263(-69%)

ISI3.3%

-2,983,534(-62%)

TCE20.9%

-2,417,669(-67%)

NBIX0.0%

-1,698,658(-100%)

TNGX1.2%

-1,527,670(-39%)

WVE0.0%

-1,485,257(-100%)

RLAY1.9%

-550,122(-7%)

SRRK4.2%

-472,019(-12%)

ADPT0.0%

-221,909(-74%)

PRVA0.1%

-221,460(-49%)

Exited

-2,630,969

-10,735,195

-887,708

-431,070

-46,626

-24,560

-65,008

-92,095

-111,510

-278,286

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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