Which funds own NBIX
Neurocrine Biosciences Inc in the Q2 2026 filings. At least 7 of the 91 current managers on file reported a position, worth $2.5bn between them. It is among the largest positions of fewer than a fifth of the current managers on file. Buying and selling roughly cancelled this quarter, which is what a name looks like when the argument is still live.
- Managers holding
- 7
- at least, of 91 current
- Combined value
- $2.5bn
- as reported
- Opened
- 0
- new this quarter
- Added to
- 4
- already held
- Trimmed or sold out
- 5
- 2 sold out entirely
Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.
Managers reporting a position
Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.
| Manager | Value | Weight | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| Dodge & Cox Activist · $191bn book | $941m | 0.5% | 5,584,707 | +$222m+123,670 | Added |
| AQR Capital Management LLC Quantitative · $287bn book | $644m | 0.2% | 3,818,037 | -$7.2m-1,120,930 | Trimmed |
| Renaissance Technologies LLC Quantitative · $72.6bn book | $394m | 0.5% | 2,335,897 | +$75m-83,000 | Trimmed |
| Two Sigma Investments LP Quantitative · $138bn book | $350m | 0.3% | 2,076,260 | -$53m-984,310 | Trimmed |
| Man Group PLC Quantitative · $62.7bn book | $101m | 0.2% | 601,019 | +$47m+185,110 | Added |
| Acadian Asset Management LLC Quantitative · $84.2bn book | $74m | 0.1% | 441,371 | +$28m+90,661 | Added |
| Bridgewater Associates LP Macro · $24.4bn book | $35m | 0.1% | 205,677 | +$15m+57,536 | Added |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- Schonfeld Strategic Advisors LLC · Multi-strategy$7.5m held before
- PDT Partners LLC · Quantitative$3.8m held before
Ownership through time
At least 10 of the 95 managers whose filings are on file listed NBIX in Q2 2026, against 1 in Q2 2013. 7 managers fewer than in Q1 2026: 1 sold out, by its own filing; 6 no longer listed it among the positions read, which can mean a holding below the listed range or a filing not yet made.
Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.
- Q2 2013: 1
- Q3 2013: 1
- Q4 2013: 1
- Q1 2014: 2
- Q2 2014: 2
- Q3 2014: 2
- Q4 2014: 3
- Q1 2015: 5
- Q2 2015: 7
- Q3 2015: 7
- Q4 2015: 8
- Q1 2016: 6
- Q2 2016: 9
- Q3 2016: 11
- Q4 2016: 7
- Q1 2017: 7
- Q2 2017: 11
- Q3 2017: 13
- Q4 2017: 17
- Q1 2018: 13
- Q2 2018: 15
- Q3 2018: 20
- Q4 2018: 16
- Q1 2019: 18
- Q2 2019: 12
- Q3 2019: 12
- Q4 2019: 19
- Q1 2020: 13
- Q2 2020: 12
- Q3 2020: 15
- Q4 2020: 12
- Q1 2021: 6
- Q2 2021: 9
- Q3 2021: 8
- Q4 2021: 14
- Q1 2022: 15
- Q2 2022: 11
- Q3 2022: 14
- Q4 2022: 15
- Q1 2023: 17
- Q2 2023: 16
- Q3 2023: 24
- Q4 2023: 21
- Q1 2024: 19
- Q2 2024: 17
- Q3 2024: 11
- Q4 2024: 14
- Q1 2025: 14
- Q2 2025: 16
- Q3 2025: 15
- Q4 2025: 21
- Q1 2026: 17
- Q2 2026: 10
- Q2 2013: $2.7m
- Q3 2013: $5.9m
- Q4 2013: $4.9m
- Q1 2014: $184m
- Q2 2014: $19m
- Q3 2014: $174m
- Q4 2014: $278m
- Q1 2015: $990m
- Q2 2015: $1.1bn
- Q3 2015: $975m
- Q4 2015: $1.6bn
- Q1 2016: $1.1bn
- Q2 2016: $1.2bn
- Q3 2016: $1.5bn
- Q4 2016: $959m
- Q1 2017: $960m
- Q2 2017: $1.5bn
- Q3 2017: $2.2bn
- Q4 2017: $2.8bn
- Q1 2018: $3.0bn
- Q2 2018: $3.6bn
- Q3 2018: $4.3bn
- Q4 2018: $2.4bn
- Q1 2019: $2.6bn
- Q2 2019: $2.2bn
- Q3 2019: $2.4bn
- Q4 2019: $2.8bn
- Q1 2020: $2.2bn
- Q2 2020: $3.3bn
- Q3 2020: $2.6bn
- Q4 2020: $2.6bn
- Q1 2021: $2.3bn
- Q2 2021: $1.5bn
- Q3 2021: $1.5bn
- Q4 2021: $1.3bn
- Q1 2022: $1.4bn
- Q2 2022: $1.3bn
- Q3 2022: $1.0bn
- Q4 2022: $1.2bn
- Q1 2023: $860m
- Q2 2023: $1.1bn
- Q3 2023: $1.4bn
- Q4 2023: $1.6bn
- Q1 2024: $1.5bn
- Q2 2024: $1.4bn
- Q3 2024: $1.2bn
- Q4 2024: $2.0bn
- Q1 2025: $1.6bn
- Q2 2025: $2.5bn
- Q3 2025: $2.6bn
- Q4 2025: $2.8bn
- Q1 2026: $2.9bn
- Q2 2026: $2.7bn
Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.
Started in Q2 2026
No manager on file started a position.
Largest increases, by shares
- Man Group PLC415,909 to 601,019 shares+$31m
- Dodge & Cox5,461,037 to 5,584,707 shares+$21m
- Acadian Asset Management LLC350,710 to 441,371 shares+$15m
- Janus Henderson Group Ltd466,977 to 526,341 shares+$10m
- Bridgewater Associates LP148,141 to 205,677 shares+$9.7m
Largest decreases, by shares
- AQR Capital Management LLC4,938,967 to 3,818,037 shares-$189m
- Two Sigma Investments LP3,060,570 to 2,076,260 shares-$166m
- Hudson Bay Capital Management LP395,850 to 130,000 shares-$45m
- Marshall Wace LLP508,977 to 270,754 shares-$40m
- Renaissance Technologies LLC2,418,897 to 2,335,897 shares-$14m
Left it
- PDT Partners LLCwas $3.8m
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Dodge & Cox | Q3 2023 | $941m | $941m | |
| AQR Capital Management LLC | Q1 2023 | $651m | $643m | |
| Renaissance Technologies LLC | Q4 2019 | $394m | $394m | |
| Two Sigma Investments LP | Q2 2018 | $403m | $350m | |
| Man Group PLC | Q4 2018 | $101m | $101m | |
| Janus Henderson Group Ltd | Q2 2017 | $898m | $89m | |
| Acadian Asset Management LLC | Q3 2022 | $74m | $74m | |
| Marshall Wace LLP | Q2 2014 | $67m | $46m | |
| Bridgewater Associates LP | Q1 2023 | $45m | $35m | |
| Hudson Bay Capital Management LP | Q2 2019 | $52m | $22m | |
| Fidelity (FMR LLC) | Q1 2015 | $1.7bn | last listed Q1 2021 | |
| T. Rowe Price Associates Inc | Q1 2014 | $815m | last listed Q4 2025 | |
| Citadel Advisors LLC | Q4 2015 | $346m | last listed Q2 2025 | |
| Point72 Asset Management LP | Q1 2015 | $290m | last listed Q1 2024 | |
| Invesco Ltd | Q4 2015 | $262m | last listed Q3 2020 | |
| Wellington Management Group LLP | Q1 2017 | $255m | last listed Q1 2026 | |
| Artisan Partners LP | Q2 2017 | $226m | last listed Q3 2019 | |
| Millennium Management LLC | Q4 2014 | $164m | last listed Q1 2026 | |
| AllianceBernstein LP | Q2 2016 | $136m | last listed Q1 2026 | |
| Two Sigma Advisers LP | Q2 2018 | $120m | last listed Q4 2025 |
What NBIX is worth
Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.
Build the comp set around NBIX →How much of the picture this is
A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.
What to do with a name the funds are buying
Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.
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The holdings, every quarter, and the week between
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