| 30 June 2026 | 31 December 2025 | |
|---|---|---|
| Total assets (in million €) | 12,908 | 12,167 |
| Net Asset Value (in million €) | 11,534 | 10,843 |
| Net Asset Value per share (in €)(1) | 326.48 | 305.77 |
| Look-through Loan-to-value (in %) | 1.9% | -4.1% |
As a reminder, the General Meeting of Shareholders of 13 May 2026 decided to pay a gross dividend of € 3.66 per share.
(1) Calculation based on the number of outstanding shares at closing date (35,328,731 shares at 30 June 2026 and 35,461,125 shares at 31 December 2025).
| 1st semester 2026 | 1st semester 2025 | |
|---|---|---|
| Net result (share of the group) (in million €) | 857 | -394 |
| Net result (share of the group) per share (in €)² | 24.20 | -11.91 |
(2) Calculation based on the weighted average number of outstanding shares (35,436,648 shares at 30 June 2026 and 33,070,430 shares at 30 June 2025).
Evolution of the Net Asset Value over the last 20 years(3)
Evolution of the Net Asset Value per share over the last 20 years(3)
(3) Data as at 31 December. The financial data are prepared under IFRS standards since the financial year ending 31 December 2004. Figures relating to 2016 and 2017 have been restated in accordance with IAS 28, §18 to ensure that the Net Asset Value for 2016 and 2017 can be compared with that of the following years as set up under the Investment Entity status.
(4) Data as at 30 June 2026.
Evolution of the share price over the last 20 years(5) (in €)
(5) Data at 31 December.
Net Asset Value Allocation(6)
(6) Data as at 30 June 2026.
Breakdown of the look-through portfolio by geographic region(9)(10)
Breakdown of the look-through portfolio between listed and unlisted investments(10)
(9) Considering the country of the main or historical headquarters of the investments.
(10) Data as at 30 June 2026.
Sector split - Sofina Direct(11)
Strategy split - Sofina Private Funds(11)
(11) Data as at 30 June 2026.
The 10 largest investments of Sofina Direct represent 27% of the fair value of the look-through
portfolio(12) (13)
| 1. ByteDance |
| 2. Cambridge Associates |
| 3. Proeduca |
| 4. Nuxe |
| 5. Drylock |
| 6. Cognita |
| 7. Mérieux NutriSciences |
| 8. Vinted |
| 9. Salto14 |
| 10. Cleo AI |
The 10 largest General Partners of Sofina Private Funds represent 24% of the fair value of the look-through portfolio(12)
| 1. Sequoia Capital |
| 2. Lightspeed |
| 3. HongShan |
| 4. Thrive Capital |
| 5. Andreessen Horowitz |
| 6. Founders Fund |
| 7. Peak XV |
| 8. Battery |
| 9. Iconiq Capital |
| 10. Insight Partners |
The 10 largest underlying company exposures within the Sofina Private Funds portfolio represent approximately 10% of the fair value of Sofina's total portfolio on a look-through basis(12)
| 1. SpaceX* (Aerospace and AI, US) |
| 2. ByteDance (Digital platforms, China) |
| 3. Stripe (Fintech, US) |
| 4. Anthropic (AI, US) |
| 5. OpenAI (AI, US) |
| 6. Databricks (Software and AI, US) |
| 7. Anduril Industries (Defence, US) |
| 8. DoorDash* (Food delivery, US) |
| 9. Ramp (Fintech, US) |
| 10. Prometheus (Software and AI, US) |
* Listed company
(12) Listed in decreasing order of fair value as at 30 June 2026.
(13) The ranking of our Sofina Direct investments does not take into consideration indirect holdings in these entities through certain partnerships of Sofina Private Funds.
(14) Subsequent to 30 June 2026, Sofina signed an agreement for the transfer of its entire shareholding in Salto. Following completion of this disposal, Salto will no longer be part of Sofina's top 10 portfolio companies within Sofina Direct.
