SEC Filing Analysis: Johnson & Johnson (JNJ)

Executive Summary

• Trading Significance: Low
• Key Takeaway: Johnson & Johnson filed its quarterly Form 13F-HR, disclosing a $503.7 million portfolio of strategic investments in 20 healthcare and biotech companies managed by its venture arm, Johnson & Johnson Innovation - JJDC, Inc.
• Market Impact: Neutral. This is a routine, backward-looking disclosure of minority stakes and is not expected to materially impact J&J's stock price.

Filer Information

Field	Value
Company	Johnson & Johnson
Ticker Symbol	JNJ
CIK	0000200406
Industry	Pharmaceutical Preparations

Holdings Report Summary

Field	Value
Form Type	13F-HR (Holdings Report)
Filing Date	2025-11-13
Period of Report	2025-09-30
Total Portfolio Value	$503,699,862
Number of Holdings	20

Top 5 Holdings by Market Value

Issuer	Value (USD)	Shares
Protagonist Therapeutics Inc.	$162,699,227	2,449,183
Nanobiotix S.A.	$106,233,884	5,623,816
MeiraGTx Holdings plc	$54,655,957	6,641,064
Rapport Therapeutics, Inc.	$53,000,155	1,784,517
CVRx, Inc.	$33,114,680	4,103,430

Financial Impact Assessment

Portfolio Materiality

Metric	Value
Total Portfolio Value	$503.7 Million
J&J Market Cap	$453.94 Billion
Portfolio as % of Market Cap	0.11%
Materiality Assessment	Low

Impact Evaluation

• Market Cap Context: The reported $503.7 million portfolio is negligible relative to Johnson & Johnson's massive $453.94 billion market capitalization. The entire portfolio constitutes just over one-tenth of one percent of the company's value.
• Strategic Significance: This filing provides a transparent look into the strategic interests of J&J's venture capital arm. The holdings are concentrated in biotechnology and medical device companies, aligning with J&J's long-term innovation and acquisition pipeline strategy. However, the size of these investments is too small to have a direct financial impact on the parent company's performance.

Market Impact Analysis

Stock Impact Prediction

• Direction: Neutral
• Reasoning: Form 13F-HR is a standard quarterly disclosure for institutional managers. As it reports positions held at the end of the previous quarter, the information is not new to the market. The portfolio's small size relative to J&J's market cap reinforces the neutral impact.

Volume & Sentiment

• Expected Volume Impact: None. This is a routine filing and will not drive trading volume in JNJ stock.
• Sentiment Indicator: Neutral. The filing confirms ongoing strategic investment activity, which is standard business practice for a large pharmaceutical company.

Additional Context

Filing Notes

• Investment Manager: The filing notes that the investments are managed by 'Johnson & Johnson Innovation - JJDC, Inc.', the corporate venture capital subsidiary of Johnson & Johnson.