Novo Holdings A/S reports 6.4% passive stake in 4D MT (FDMT)

Rhea-AI Filing Summary

Novo Holdings A/S reported beneficial ownership of 3,650,737 shares of 4D Molecular Therapeutics common stock, representing 6.4% of the outstanding class as of the event date. Novo Holdings has sole power to vote and dispose of these shares, with no shared voting or dispositive power.

The filing states that the position was not acquired and is not held for the purpose of changing or influencing control of the company, indicating a passive investment intent under the Schedule 13G framework.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

4D MOLECULAR THERAPEUTICS, INC.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

35104E100

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 35104E100

1

Names of Reporting Persons

Novo Holdings A/S

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DENMARK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,650,737.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,650,737.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,650,737.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.4 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: 4D MOLECULAR THERAPEUTICS, INC.
(b)	Address of issuer's principal executive offices: 5858 Horton Street #455, Emeryville, CA, 94608.
Item 2.
(a)	Name of person filing: Novo Holdings A/S, a Danish corporation, is an investment firm focused on life sciences and finance that is wholly owned by Novo Nordisk Foundation (the "Foundation"), a Danish commercial foundation. Novo Holdings A/S is the holding company in the group of Novo companies, currently comprised of Novo Nordisk A/S and Novozymes A/S (also known as Novonesis A/S), and is responsible for managing the Foundation's assets, including its financial assets. Based on the governance structure of Novo Holdings A/S and the Foundation, the Foundation is not deemed to have any beneficial ownership of the securities of the Issuer held by Novo Holdings A/S.
(b)	Address or principal business office or, if none, residence: Tuborg Havnevej 19 2900 Hellerup, Denmark
(c)	Citizenship: Denmark
(d)	Title of class of securities: Common Stock, par value $0.0001 per share
(e)	CUSIP No.: 35104E100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3,650,737
(b)	Percent of class: 6.4%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3,650,737
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3,650,737
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Novo Holdings A/S

Signature:	Barbara Fiorini
Name/Title:	Barbara Fiorini, General Counsel, Finance & Operations
Date:	02/17/2026

FAQ

What ownership stake in FDMT does Novo Holdings A/S report?

Novo Holdings A/S reports beneficial ownership of 3,650,737 shares of 4D Molecular Therapeutics common stock, representing 6.4% of the class. The firm holds sole voting and dispositive power over these shares, with no shared authority disclosed.

Is Novo Holdings A/S seeking control of 4D Molecular Therapeutics (FDMT)?

The filing states the FDMT shares were not acquired or held to change or influence control of the company. It characterizes Novo Holdings A/S’s position as a passive investment under the Schedule 13G framework, rather than an activist or control-seeking stake.

Who is the reporting person in this FDMT Schedule 13G/A filing?

The reporting person is Novo Holdings A/S, a Danish investment firm wholly owned by Novo Nordisk Foundation. The document notes the Foundation is not deemed to have beneficial ownership of the FDMT securities held by Novo Holdings A/S.

What voting and dispositive powers does Novo Holdings have over FDMT shares?

Novo Holdings A/S reports sole power to vote and dispose of 3,650,737 FDMT shares, with zero shared voting or dispositive power. This means only Novo Holdings A/S controls how these shares are voted and whether they are sold or retained.

Why did Novo Holdings A/S file an amended Schedule 13G/A for FDMT?

Novo Holdings A/S filed an amended Schedule 13G/A because it beneficially owns more than 5% of FDMT’s common stock. The amendment updates its reported ownership at 6.4% and reconfirms that the position is not held to influence control of the issuer.