L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 22 Jan 2026
Managers listing it
36
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 15 listed it in both
Shares listed
21,162,756
combined, among listed positions
Reported value
$3.0bn
combined, at the quarter end

Among the 92 comparable managers: 17 buyers (opened or added shares) and 21 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +181,264.

Managers listing NBIX in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

36 of 36 holders

ActionFiling
Dodge & Cox5,508,042$781m0.42%Trimmed-48,57613 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC3,271,706$463m0.24%Added+498,05817 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC2,238,797$318m0.49%Trimmed-179,50012 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc1,872,240$266munder 0.1%Trimmed-994,49117 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP1,744,560$247munder 0.1%Trimmed-67,20217 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP984,811$140m0.20%Added+637,24617 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP842,592$120m0.23%Added+693,81917 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP555,494$79munder 0.1%Trimmed-62,63517 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd459,176$65munder 0.1%Trimmed-135,99417 Feb 2026 (the filing on sec.gov)
Millennium Management LLC442,866$63munder 0.1%Trimmed-534,34417 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP360,711$51munder 0.1%Trimmed-50,94913 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP348,843$49munder 0.1%Added+251,55413 Feb 2026 (the filing on sec.gov)
Invesco Ltd343,421$49munder 0.1%Added+19,81019 Feb 2026 (the filing on sec.gov)
Hudson Bay Capital Management LP305,000$43m0.14%Added+264,49013 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC249,154$35m0.06%Added+209,68410 Feb 2026 (the filing on sec.gov)
Man Group PLC231,210$33m0.06%Added+150,37817 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC209,706$30munder 0.1%Added+169,22513 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP149,990$21m0.08%Added+126,95213 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC141,101$20munder 0.1%Trimmed-62,30617 Feb 2026 (the filing on sec.gov)
Freestone Grove Partners LP140,529$20m0.14%Added+8,19117 Feb 2026 (the filing on sec.gov)
MFS Investment Management126,341$18munder 0.1%Trimmed-10,41522 Jan 2026 (the filing on sec.gov)
Susquehanna International Group LLP97,713$14munder 0.1%Added+93,05117 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC90,325$13munder 0.1%Added+67,71913 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC89,972$13m0.06%Added+12,27917 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC79,711$11munder 0.1%Trimmed-713,52817 Feb 2026 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
11 in Q3 2024 to 10 in Q2 2026

Tracked managers listing it, at least.

01020302014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
NBIX by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20131$2.7mn.a.n.a.
Q3 20131$5.9mn.a.n.a.
Q4 20131$4.9mn.a.n.a.
Q1 20142$184mn.a.n.a.
Q2 20142$19mn.a.n.a.
Q3 20142$174mn.a.n.a.
Q4 20143$278mn.a.n.a.
Q1 20155$990mn.a.n.a.
Q2 20157$1.1bnn.a.n.a.
Q3 20157$975mn.a.n.a.
Q4 20158$1.6bnn.a.n.a.
Q1 20166$1.1bnn.a.n.a.
Q2 20169$1.2bnn.a.n.a.
Q3 201611$1.5bnn.a.n.a.
Q4 20167$959mn.a.n.a.
Q1 20177$960mn.a.n.a.
Q2 201711$1.5bnn.a.n.a.
Q3 201713$2.2bnn.a.n.a.
Q4 201717$2.8bnn.a.n.a.
Q1 201813$3.0bnn.a.n.a.
Q2 201815$3.6bnn.a.n.a.
Q3 201820$4.3bnn.a.n.a.
Q4 201816$2.4bnn.a.n.a.
Q1 201918$2.6bnn.a.n.a.
Q2 201912$2.2bnn.a.n.a.
Q3 201912$2.4bnn.a.n.a.
Q4 201919$2.8bnn.a.n.a.
Q1 202013$2.2bnn.a.n.a.
Q2 202012$3.3bnn.a.n.a.
Q3 202015$2.6bnn.a.n.a.
Q4 202012$2.6bnn.a.n.a.
Q1 20216$2.3bnn.a.n.a.
Q2 20219$1.5bnn.a.n.a.
Q3 20218$1.5bnn.a.n.a.
Q4 202114$1.3bnn.a.n.a.
Q1 202215$1.4bnn.a.n.a.
Q2 202211$1.3bnn.a.n.a.
Q3 202214$1.0bnn.a.n.a.
Q4 202215$1.2bnn.a.n.a.
Q1 202317$860mn.a.n.a.
Q2 202316$1.1bnn.a.n.a.
Q3 202324$1.4bnn.a.n.a.
Q4 202321$1.6bn1012
Q1 202419$1.5bn911
Q2 202417$1.4bn109
Q3 202411$1.2bn75
Q4 202414$2.0bn104
Q1 202514$1.6bn104
Q2 202516$2.5bn107
Q3 202515$2.6bn78
Q4 202521$2.8bn1721
Q1 202617$2.9bn1619
Q2 202610$2.7bn1616

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

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How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own NBIX, latest filings →Back to the 13F Explorer →