Vault-13

ARGENX SE ARGX

SPONSORED ADR · ADR · CUSIP 04016X101 · ISIN US04016X1019

509 institutional holders +40 vs Q3 2025
29,741,23729.7m shares reported held*
$25.0bnreported value*
73 new 174 added 167 reduced 52 sold out net sold ≈ $719.1m (-855.0k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($8.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $840.48. Options: 18 managers hold calls ($364.4m notional), 13 hold puts ($165.4m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 255Q4 22: 271Q1 23: 273Q2 23: 291Q3 23: 342Q4 23: 347Q1 24: 328Q2 24: 336Q3 24: 358Q4 24: 397Q1 25: 449Q2 25: 439Q3 25: 469Q4 25: 509509Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022255
Q4 2022271
Q1 2023273
Q2 2023291
Q3 2023342
Q4 2023347
Q1 2024328
Q2 2024336
Q3 2024358
Q4 2024397
Q1 2025449
Q2 2025439
Q3 2025469
Q4 2025509

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q1 24: 166 bought or addedQ1 24: 176 cut or sold outQ2 24: 177 bought or addedQ2 24: 147 cut or sold outQ2 24Q3 24: 187 bought or addedQ3 24: 149 cut or sold outQ4 24: 204 bought or addedQ4 24: 157 cut or sold outQ4 24Q1 25: 236 bought or addedQ1 25: 177 cut or sold outQ2 25: 225 bought or addedQ2 25: 204 cut or sold outQ2 25Q3 25: 266 bought or addedQ3 25: 192 cut or sold outQ4 25: 247 bought or addedQ4 25: 219 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024166176
Q2 2024177147
Q3 2024187149
Q4 2024204157
Q1 2025236177
Q2 2025225204
Q3 2025266192
Q4 2025247219

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$200m$400m$600mQ1 25 calls: $318.8mQ1 25 puts: $173.6mQ1 25P/C 0.54Q2 25 calls: $275.6mQ2 25 puts: $126.6mQ2 25P/C 0.46Q3 25 calls: $549.2mQ3 25 puts: $262.8mQ3 25P/C 0.48Q4 25 calls: $364.4mQ4 25 puts: $165.4mQ4 25P/C 0.45
Numbers
QuarterCallsPutsP/C
Q1 2025$318.8m$173.6m0.54
Q2 2025$275.6m$126.6m0.46
Q3 2025$549.2m$262.8m0.48
Q4 2025$364.4m$165.4m0.45

Biggest buyers

SANDS CAPITAL MANAGEMENT, LLC Added +340,245+340.2k
Invesco Ltd. Added +331,489+331.5k
ALLIANCEBERNSTEIN L.P. Added +329,429+329.4k
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC New +223,666+223.7k
BlackRock, Inc. Added +211,797+211.8k
VOYA INVESTMENT MANAGEMENT LLC Added +147,488+147.5k
AGF MANAGEMENT LTD New +124,691+124.7k
MORGAN STANLEY Added +83,746+83.7k
BESSEMER GROUP INC Added +62,473+62.5k
BANK OF AMERICA CORP /DE/ Added +58,397+58.4k

Biggest sellers

Artisan Partners Limited Partnership Reduced -429,568-429.6k
CITADEL ADVISORS LLC Reduced -362,708-362.7k
MILLENNIUM MANAGEMENT LLC Reduced -287,060-287.1k
PRICE T ROWE ASSOCIATES INC /MD/ Reduced -278,085-278.1k
Clearbridge Investments, LLC Reduced -243,098-243.1k
ALKEON CAPITAL MANAGEMENT LLC Sold out -175,000-175.0k
Jefferies Financial Group Inc. Reduced -125,000-125.0k
Woodline Partners LP Reduced -124,050-124.0k
D. E. Shaw & Co., Inc. Reduced -123,495-123.5k
JANUS HENDERSON GROUP PLC Reduced -117,087-117.1k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $100.2m119.1k shares
D. E. Shaw & Co., Inc. Added $63.5m75.5k shares
LMR Partners LLP Reduced $62.2m74.0k shares
JPMORGAN CHASE & CO New $24.0m28.5k shares
CITADEL ADVISORS LLC Reduced $20.3m24.1k shares
IMC-Chicago, LLC Reduced $19.7m23.4k shares
Caption Management, LLC Reduced $18.5m22.0k shares
Squarepoint Ops LLC Added $15.8m18.8k shares
JANE STREET GROUP, LLC Reduced $9.5m11.3k shares
NOMURA HOLDINGS INC Added $6.7m8.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $97.0m115.3k shares
CITADEL ADVISORS LLC Reduced $22.4m26.6k shares
IMC-Chicago, LLC Reduced $10.2m12.1k shares
NOMURA HOLDINGS INC Added $6.7m8.0k shares
Walleye Trading LLC Added $5.0m5.9k shares
Walleye Capital LLC Added $4.9m5.8k shares
JANE STREET GROUP, LLC Reduced $4.2m5.0k shares
Point72 Asset Management, L.P. New $3.8m4.5k shares
GROUP ONE TRADING LLC Added $3.1m3.7k shares
D. E. Shaw & Co., Inc. Reduced $3.0m3.6k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: PRICE T ROWE ASSOCIATES INC /MD/ (4.3%, 2026-08-14)

Insider purchases and sales in Q4 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.24% of their portfolio BOSTON, MA 5,592,3195.6m $4.7bn $4.7bn 0.24% Reduced -100.0k -100,027
2 PRICE T ROWE ASSOCIATES INC /MD/ 0.30% of their portfolio BALTIMORE, MD 3,362,3243.4m $2.8bn $2.8bn 0.30% Reduced -278.1k -278,085
3 JANUS HENDERSON GROUP PLC 0.92% of their portfolio LONDON, X0 2,458,1642.5m $2.1bn $2.1bn 0.92% Reduced -117.1k -117,087
4 Capital World Investors 0.22% of their portfolio LOS ANGELES, CA 1,916,2341.9m $1.6bn $1.6bn 0.22% Reduced -43.3k -43,270
5 Artisan Partners Limited Partnership 2.26% of their portfolio Milwaukee, WI 1,756,9421.8m $1.5bn $1.5bn 2.26% Reduced -429.6k -429,568
6 Avoro Capital Advisors LLC 8.18% of their portfolio NEW YORK, NY 990,000990.0k $832.5m $832.5m 8.18% Unchanged
7 BlackRock, Inc. 0.01% of their portfolio New York, NY 735,598735.6k $618.6m $618.6m 0.01% Added +211.8k +211,797
8 WELLINGTON MANAGEMENT GROUP LLP 0.10% of their portfolio Boston, MA 679,236679.2k $571.2m $571.2m 0.10% Reduced -50.8k -50,750
9 RTW INVESTMENTS, LP 5.67% of their portfolio NEW YORK, NY 673,497673.5k $566.4m $566.4m 5.67% Unchanged
10 MORGAN STANLEY 0.03% of their portfolio NEW YORK, NY 518,852518.9k $436.3m $436.3m 0.03% Added +83.7k +83,746
11 Clearbridge Investments, LLC 0.35% of their portfolio NEW YORK, NY 513,764513.8k $432.1m $432.1m 0.35% Reduced -243.1k -243,098
12 Bellevue Group AG 7.36% of their portfolio ZURICH, V8 461,854461.9k $388.4m $388.4m 7.36% Reduced -84.5k -84,474
13 Invesco Ltd. 0.03% of their portfolio ATLANTA, GA 416,408416.4k $350.2m $350.2m 0.03% Added +331.5k +331,489
14 ALLIANCEBERNSTEIN L.P. 0.11% of their portfolio NASHVILLE, TN 414,182414.2k $348.3m $348.3m 0.11% Added +329.4k +329,429
15 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 400,776400.8k $337.0m $337.0m 0.02% Added +58.4k +58,397
16 SANDS CAPITAL MANAGEMENT, LLC 0.91% of their portfolio ARLINGTON, VA 356,870356.9k $300.1m $300.1m 0.91% Added +340.2k +340,245
17 CITADEL ADVISORS LLC 0.20% of their portfolio MIAMI, FL 350,851350.9k $295.0m $295.0m 0.20% Reduced -362.7k -362,708
18 SEI INVESTMENTS CO 0.27% of their portfolio OAKS, PA 330,506330.5k $277.9m $277.9m 0.27% Added +18.2k +18,238
19 TWO SIGMA INVESTMENTS, LP 0.32% of their portfolio NEW YORK, NY 258,556258.6k $217.4m $217.4m 0.32% Reduced -35.6k -35,604
20 FRANKLIN RESOURCES INC 0.05% of their portfolio San Mateo, CA 237,701237.7k $199.9m $199.9m 0.05% Reduced -20.6k -20,573
21 JENNISON ASSOCIATES LLC 0.12% of their portfolio NEW YORK, NY 229,761229.8k $193.2m $193.2m 0.12% Reduced -10.5k -10,467
22 Fiera Capital Corp 0.60% of their portfolio MONTREAL, A8 225,971226.0k $190.0m $190.0m 0.60% Added +48.3k +48,317
23 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.52% of their portfolio CHICAGO, IL 223,666223.7k $188.1m $188.1m 0.52% New
24 AMERICAN CENTURY COMPANIES INC 0.09% of their portfolio KANSAS CITY, MO 221,048221.0k $185.9m $185.9m 0.09% Reduced -8.7k -8,722
25 LORD, ABBETT & CO. LLC 0.53% of their portfolio JERSEY CITY, NJ 203,864203.9k $171.4m $171.4m 0.53% Added +7.0k +6,987
26 AMERIPRISE FINANCIAL INC 0.04% of their portfolio MINNEAPOLIS, MN 187,139187.1k $157.4m $157.4m 0.04% Added +21.5k +21,481
27 Allspring Global Investments Holdings, LLC 0.24% of their portfolio CHARLOTTE, NC 172,732172.7k $145.1m $145.1m 0.24% Reduced -38.6k -38,598
28 VOYA INVESTMENT MANAGEMENT LLC 0.14% of their portfolio ATLANTA, GA 169,098169.1k $142.2m $142.2m 0.14% Added +147.5k +147,488
29 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 167,206167.2k $140.6m $140.6m 0.02% Reduced -25.9k -25,907
30 BAMCO INC /NY/ 0.35% of their portfolio NEW YORK, NY 153,719153.7k $129.3m $129.3m 0.35% Reduced -14.0k -13,975
31 Pictet Asset Management Holding SA 0.13% of their portfolio CAROUGE, V8 153,211153.2k $128.8m $128.8m 0.13% Reduced -16.1k -16,122
32 ORBIMED ADVISORS LLC 2.51% of their portfolio New York, NY 146,000146.0k $122.8m $122.8m 2.51% Reduced -26.3k -26,300
33 Legal & General Group Plc 0.03% of their portfolio London, X0 144,355144.4k $121.4m $121.4m 0.03% Reduced -4.3k -4,264
34 Checkpoint Capital L.P. 37.83% of their portfolio SAN FRANCISCO, CA 142,000142.0k $119.4m $119.4m 37.83% Reduced -8.0k -8,000
35 TWO SIGMA ADVISERS, LP 0.22% of their portfolio NEW YORK, NY 135,500135.5k $113.9m $113.9m 0.22% Reduced -4.2k -4,200
36 DEUTSCHE BANK AG\ 0.04% of their portfolio FRANKFURT AM MAIN, 2M 134,710134.7k $113.3m $113.3m 0.04% Added +46.0k +45,986
37 LAZARD ASSET MANAGEMENT LLC 0.19% of their portfolio NEW YORK, NY 133,030133.0k $111.9m $111.9m 0.19% Reduced -4.2k -4,166
38 AGF MANAGEMENT LTD 0.45% of their portfolio TORONTO, A6 124,691124.7k $104.9m $104.9m 0.45% New
39 EVENTIDE ASSET MANAGEMENT, LLC 1.59% of their portfolio Boston, MA 121,221121.2k $101.9m $101.9m 1.59% Reduced -4.2k -4,150
40 ACADIAN ASSET MANAGEMENT LLC 0.16% of their portfolio Boston, MA 117,887117.9k $99.1m $99.1m 0.16% Added +55.1k +55,083
41 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.11% of their portfolio Paris, I0 115,358115.4k $97.0m $97.0m 0.11% Added +34.7k +34,726
42 1832 Asset Management L.P. 0.12% of their portfolio TORONTO, A6 110,700110.7k $93.1m $93.1m 0.12% Unchanged
43 TimesSquare Capital Management, LLC 1.37% of their portfolio NEW YORK, NY 108,509108.5k $91.3m $91.3m 1.37% Reduced -19.0k -19,021
44 FEDERATED HERMES, INC. 0.15% of their portfolio PITTSBURGH, PA 106,770106.8k $89.8m $89.8m 0.15% Reduced -17.5k -17,454
45 Rock Springs Capital Management LP 4.45% of their portfolio Baltimore, MD 103,250103.2k $86.8m $86.8m 4.45% Reduced -39.5k -39,500
46 TD Asset Management Inc 0.07% of their portfolio Toronto, A6 101,523101.5k $85.4m $85.4m 0.07% Reduced -19.4k -19,379
47 Ensign Peak Advisors, Inc 0.13% of their portfolio SALT LAKE CITY, UT 90,45290.5k $76.1m $76.1m 0.13% Reduced -5.9k -5,909
48 SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC 1.95% of their portfolio Boston, MA 82,62082.6k $69.5m $69.5m 1.95% Reduced -9.8k -9,834
49 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 79,98980.0k $67.3m $67.3m 0.02% Reduced -15.7k -15,722
50 PINEBRIDGE INVESTMENTS LLC 0.45% of their portfolio NEW YORK, NY 72,04072.0k $60.6m $60.6m 0.45% First filing
51 BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio PARIS, I0 70,74470.7k $59.5m $59.5m 0.04% Reduced -36.0k -35,970
52 Nuveen, LLC 0.01% of their portfolio CHARLOTTE, NC 66,24166.2k $55.7m $55.7m 0.01% Reduced -15.2k -15,159
53 Artia Global Partners LP 8.74% of their portfolio MIAMI, FL 64,69964.7k $54.4m $54.4m 8.74% Reduced -13.6k -13,612
54 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 64,24464.2k $54.0m $54.0m 0.01% Reduced -5.5k -5,507
55 Eagle Health Investments LP 11.59% of their portfolio Greenwich, CT 62,73062.7k $52.8m $52.8m 11.59% Reduced -14.7k -14,700
56 BESSEMER GROUP INC 0.08% of their portfolio WOODBRIDGE, NJ 62,53762.5k $52.6m $52.6m 0.08% Added +62.5k +62,473
57 MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 60,45860.5k $50.8m $50.8m 0.04% Reduced -287.1k -287,060
58 UBS Group AG 0.01% of their portfolio ZURICH, V8 60,38460.4k $50.8m $50.8m 0.01% Added +6.6k +6,591
59 Jain Global LLC 0.48% of their portfolio NEW YORK, NY 58,25058.2k $49.0m $49.0m 0.48% Added +56.0k +55,986
60 ARMISTICE CAPITAL, LLC 1.19% of their portfolio NEW YORK, NY 58,00058.0k $48.8m $48.8m 1.19% Unchanged
61 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 57,48957.5k $48.3m $48.3m 0.02% Reduced -11.3k -11,305
62 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.04% of their portfolio Toronto, A6 57,40857.4k $48.1m $48.1m 0.04% Reduced -7.9k -7,878
63 PGGM Investments 0.73% of their portfolio ZEIST, P7 54,83054.8k $46.1m $46.1m 0.73% Reduced -21.9k -21,869
64 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 54,39054.4k $45.7m $45.7m 0.01% Reduced -1.3k -1,284
65 FIRST TRUST ADVISORS LP 0.03% of their portfolio Wheaton, IL 53,90253.9k $45.3m $45.3m 0.03% Reduced -11.1k -11,083
66 Handelsbanken Fonder AB 0.13% of their portfolio STOCKHOLM, V7 52,67852.7k $44.3m $44.3m 0.13% Added +11.6k +11,573
67 Aberdeen Group plc 0.07% of their portfolio EDINBURGH, X0 52,34752.3k $44.0m $44.0m 0.07% Reduced -14.3k -14,329
68 NOMURA ASSET MANAGEMENT CO LTD 0.11% of their portfolio TOKYO, M0 49,35849.4k $41.5m $41.5m 0.11% Added +35.8k +35,758
69 Candriam S.C.A. 0.20% of their portfolio STRASSEN, N4 48,74148.7k $41.0m $41.0m 0.20% Added +541 +541
70 Life Cycle Investment Partners Ltd 0.27% of their portfolio LONDON, X0 45,82645.8k $38.5m $38.5m 0.27% First filing
71 D. E. Shaw & Co., Inc. 0.03% of their portfolio New York, NY 45,53345.5k $38.3m $38.3m 0.03% Reduced -123.5k -123,495
72 Woodline Partners LP 0.15% of their portfolio San Francisco, CA 45,42645.4k $38.2m $38.2m 0.15% Reduced -124.0k -124,050
73 NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.06% of their portfolio PHILADELPHIA, PA 45,31545.3k $38.1m $38.1m 0.06% First filing
74 NEW YORK STATE COMMON RETIREMENT FUND 0.05% of their portfolio ALBANY, NY 44,02744.0k $37.0m $37.0m 0.05% Reduced -21.1k -21,095
75 Amundi 0.01% of their portfolio Paris, I0 42,48542.5k $35.7m $35.7m 0.01% Added +34.3k +34,304
76 Balyasny Asset Management L.P. 0.07% of their portfolio Chicago, IL 41,92341.9k $35.3m $35.3m 0.07% New
77 Tri Locum Partners LP 4.11% of their portfolio NEW YORK, NY 37,65337.7k $31.7m $31.7m 4.11% Reduced -5.8k -5,758
78 DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio AUSTIN, TX 36,81736.8k $31.0m $31.0m 0.01% Reduced -3.4k -3,403
79 Public Sector Pension Investment Board 0.10% of their portfolio MONTREAL, A8 36,60036.6k $30.8m $30.8m 0.10% New
80 Davern Capital Partners, LP 9.70% of their portfolio NY, NY 35,68535.7k $30.0m $30.0m 9.70% First filing
81 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 35,66035.7k $30.0m $30.0m 0.01% Reduced -11.4k -11,404
82 VAN ECK ASSOCIATES CORP 0.02% of their portfolio NEW YORK, NY 34,53534.5k $29.0m $29.0m 0.02% Reduced -1.5k -1,536
83 VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio San Antonio, TX 33,84733.8k $28.5m $28.5m 0.02% New
84 Soleus Capital Management, L.P. 1.13% of their portfolio GREENWICH, CT 31,72631.7k $26.7m $26.7m 1.13% Reduced -37.7k -37,700
85 BRAIDWELL LP 0.83% of their portfolio STAMFORD, CT 31,00731.0k $26.1m $26.1m 0.83% Reduced -45.1k -45,084
86 Perpetual Ltd 0.38% of their portfolio SYDNEY, NEW SOUTH WALES, C3 30,95030.9k $26.0m $26.0m 0.38% Reduced -18.4k -18,429
87 Jefferies Financial Group Inc. 0.21% of their portfolio NEW YORK, NY 30,00030.0k $25.2m $25.2m 0.21% Reduced -125.0k -125,000
88 JANE STREET GROUP, LLC 0.03% of their portfolio NEW YORK, NY 28,48528.5k $24.0m $24.0m 0.03% Reduced -21.4k -21,419
89 Squarepoint Ops LLC 0.05% of their portfolio NEW YORK, NY 28,20228.2k $23.7m $23.7m 0.05% Added +9.2k +9,217
90 BLAIR WILLIAM & CO/IL 0.06% of their portfolio CHICAGO, IL 26,34026.3k $22.2m $22.2m 0.06% Added +24.0k +23,957
91 Patient Square Capital LP 4.68% of their portfolio MENLO PARK, CA 26,00026.0k $21.9m $21.9m 4.68% Added +10.5k +10,500
92 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 25,65625.7k $21.6m $21.6m 0.01% Reduced -114 -114
93 Quadrature Capital Ltd 0.22% of their portfolio LONDON, X0 25,39925.4k $21.4m $21.4m 0.22% Reduced -25.2k -25,204
94 BAKER BROS. ADVISORS LP 0.12% of their portfolio NEW YORK, NY 25,17425.2k $21.2m $21.2m 0.12% Reduced -12.6k -12,586
95 MOORE CAPITAL MANAGEMENT, LP 0.43% of their portfolio NEW YORK, NY 25,00025.0k $21.0m $21.0m 0.43% Added +10.0k +10,000
96 Assenagon Asset Management S.A. 0.03% of their portfolio SENNINGERBERG, N4 24,34724.3k $20.5m $20.5m 0.03% New
97 ARDSLEY ADVISORY PARTNERS LP 2.57% of their portfolio Norwalk, CT 24,00024.0k $20.2m $20.2m 2.57% Added +9.0k +9,000
98 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio BALA CYNWYD, PA 23,95924.0k $20.1m $20.1m 0.03% New
99 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 23,69523.7k $19.9m $19.9m 0.00% Reduced -2.4k -2,419
100 ODDO BHF ASSET MANAGEMENT SAS 0.74% of their portfolio PARIS, I0 23,47323.5k $19.7m $19.7m 0.74% Reduced -5.4k -5,416