Vault-13

ASCENDIS PHARMA A/S

SPONSORED ADR · CUSIP 04351P101 · ISIN US04351P1012

249 institutional holders +3 vs Q1 2025
62,861,96162.9m shares reported held*
$10.9bnreported value*
40 new 81 added 89 reduced 40 sold out net sold ≈ $403.1m (-2.4m 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 ($6.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $172.61. Options: 11 managers hold calls ($39.2m notional), 10 hold puts ($12.6m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 183Q4 22: 187Q1 23: 165Q2 23: 159Q3 23: 161Q4 23: 186Q1 24: 190Q2 24: 204Q3 24: 221Q4 24: 216Q1 25: 246Q2 25: 249249Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022183
Q4 2022187
Q1 2023165
Q2 2023159
Q3 2023161
Q4 2023186
Q1 2024190
Q2 2024204
Q3 2024221
Q4 2024216
Q1 2025246
Q2 2025249

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 71 bought or addedQ3 23: 78 cut or sold outQ4 23: 90 bought or addedQ4 23: 86 cut or sold outQ4 23Q1 24: 111 bought or addedQ1 24: 83 cut or sold outQ2 24: 111 bought or addedQ2 24: 89 cut or sold outQ2 24Q3 24: 117 bought or addedQ3 24: 94 cut or sold outQ4 24: 113 bought or addedQ4 24: 106 cut or sold outQ4 24Q1 25: 129 bought or addedQ1 25: 110 cut or sold outQ2 25: 121 bought or addedQ2 25: 129 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20237178
Q4 20239086
Q1 202411183
Q2 202411189
Q3 202411794
Q4 2024113106
Q1 2025129110
Q2 2025121129

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ3 24 calls: $39.3mQ3 24 puts: $58.8mQ3 24P/C 1.49Q4 24 calls: $11.9mQ4 24 puts: $32.7mQ4 24P/C 2.75Q1 25 calls: $23.8mQ1 25 puts: $38.3mQ1 25P/C 1.61Q2 25 calls: $39.2mQ2 25 puts: $12.6mQ2 25P/C 0.32
Numbers
QuarterCallsPutsP/C
Q3 2024$39.3m$58.8m1.49
Q4 2024$11.9m$32.7m2.75
Q1 2025$23.8m$38.3m1.61
Q2 2025$39.2m$12.6m0.32

Biggest buyers

PERCEPTIVE ADVISORS LLC New +963,886+963.9k
T. Rowe Price Investment Management, Inc. Added +529,722+529.7k
WELLINGTON MANAGEMENT GROUP LLP Added +330,332+330.3k
Polar Capital Holdings Plc Added +312,777+312.8k
Capital International Investors Added +172,139+172.1k
LORD, ABBETT & CO. LLC New +154,176+154.2k
ADAGE CAPITAL PARTNERS GP, L.L.C. Added +132,201+132.2k
SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC New +130,000+130.0k
MACQUARIE GROUP LTD New +116,735+116.7k
Tri Locum Partners LP Added +115,317+115.3k

Biggest sellers

MORGAN STANLEY Reduced -1,648,746-1.6m
Point72 Asset Management, L.P. Sold out -569,146-569.1k
CITADEL ADVISORS LLC Reduced -537,841-537.8k
PRICE T ROWE ASSOCIATES INC /MD/ Reduced -380,611-380.6k
Artisan Partners Limited Partnership Reduced -266,203-266.2k
Invesco Ltd. Reduced -251,252-251.3k
Avoro Capital Advisors LLC Reduced -238,000-238.0k
MILLENNIUM MANAGEMENT LLC Reduced -191,979-192.0k
Finepoint Capital LP Sold out -179,872-179.9k
Saturn V Capital Management LP Reduced -161,073-161.1k

Biggest calls

Caption Management, LLC New $9.5m55.0k shares
Jefferies Financial Group Inc. New $8.6m50.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $7.9m45.7k shares
JANE STREET GROUP, LLC Added $4.9m28.4k shares
CITADEL ADVISORS LLC Reduced $3.4m19.7k shares
SIMPLEX TRADING, LLC Added $1.9m11.1k shares
GOLDMAN SACHS GROUP INC New $1.8m10.4k shares
D. E. Shaw & Co., Inc. Unchanged $863.0k5.0k shares
GROUP ONE TRADING LLC Added $241.6k1.4k shares
Walleye Capital LLC New $120.8k700 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $3.7m21.7k shares
Caption Management, LLC Reduced $3.5m20.0k shares
WOLVERINE TRADING, LLC New $2.2m13.0k shares
Walleye Trading LLC Reduced $1.3m7.7k shares
CITADEL ADVISORS LLC Reduced $690.4k4.0k shares
JANE STREET GROUP, LLC Reduced $655.9k3.8k shares
GROUP ONE TRADING LLC Reduced $397.0k2.3k shares
SIMPLEX TRADING, LLC Reduced $120.0k700 shares
Walleye Capital LLC Reduced $17.3k100 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 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.

HolderStakeChangeShares Last filed
T. Rowe Price Investment Management, Inc. 13G · institution +0.6 pts · filed 2026-05-07 10.5% +0.6 pts 6.5m 2026-05-07
WESTFIELD CAPITAL MANAGEMENT CO LP 13G · institution -0.7 pts · filed 2026-02-11 8.5% -0.7 pts 5.2m 2026-02-11
FMR LLC 13G · institution filed 2025-05-12 8.0% 4.6m 2025-05-12
JANUS HENDERSON GROUP PLC 13G · institution -1.8 pts · filed 2026-05-15 6.0% -1.8 pts 3.7m 2026-05-15
Artisan Partners Limited Partnership 13G · institution filed 2026-02-03 5.2% 3.2m 2026-02-03

Fell to 5% or below in the last year: Capital International Investors (3.2%, 2026-05-14)

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 RA CAPITAL MANAGEMENT, L.P. 29.90% of their portfolio BOSTON, MA 10,281,49610.3m $1.8bn $1.8bn 29.90% Unchanged
2 WESTFIELD CAPITAL MANAGEMENT CO LP 3.95% of their portfolio BOSTON, MA 5,451,4015.5m $940.9m $940.9m 3.95% Reduced -27.9k -27,858
3 Avoro Capital Advisors LLC 15.05% of their portfolio NEW YORK, NY 4,980,0005.0m $859.5m $859.5m 15.05% Reduced -238.0k -238,000
4 FMR LLC 0.04% of their portfolio BOSTON, MA 4,531,7244.5m $782.2m $782.2m 0.04% Reduced -141.2k -141,219
5 JANUS HENDERSON GROUP PLC 0.37% of their portfolio LONDON, X0 4,427,7924.4m $764.4m $764.4m 0.37% Reduced -59.2k -59,157
6 Artisan Partners Limited Partnership 1.03% of their portfolio Milwaukee, WI 3,990,4244.0m $688.7m $688.7m 1.03% Reduced -266.2k -266,203
7 T. Rowe Price Investment Management, Inc. 0.39% of their portfolio BALTIMORE, MD 3,583,5463.6m $618.5m $618.5m 0.39% Added +529.7k +529,722
8 Capital International Investors 0.09% of their portfolio Los Angeles, CA 3,046,9313.0m $525.9m $525.9m 0.09% Added +172.1k +172,139
9 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.10% of their portfolio Boston, MA 1,901,8431.9m $328.3m $328.3m 0.10% Added +23.9k +23,926
10 PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio BALTIMORE, MD 1,875,4911.9m $323.7m $323.7m 0.04% Reduced -380.6k -380,611
11 FRANKLIN RESOURCES INC 0.08% of their portfolio San Mateo, CA 1,753,4681.8m $302.6m $302.6m 0.08% Added +113.3k +113,347
12 PERCEPTIVE ADVISORS LLC 6.24% of their portfolio NEW YORK, NY 963,886963.9k $166.4m $166.4m 6.24% New
13 Invesco Ltd. 0.03% of their portfolio ATLANTA, GA 947,226947.2k $163.5m $163.5m 0.03% Reduced -251.3k -251,252
14 WELLINGTON MANAGEMENT GROUP LLP 0.03% of their portfolio Boston, MA 918,095918.1k $158.5m $158.5m 0.03% Added +330.3k +330,332
15 Polar Capital Holdings Plc 0.76% of their portfolio London, X0 837,777837.8k $144.6m $144.6m 0.76% Added +312.8k +312,777
16 AMERIPRISE FINANCIAL INC 0.03% of their portfolio MINNEAPOLIS, MN 588,069588.1k $101.5m $101.5m 0.03% Reduced -91.9k -91,874
17 CITADEL ADVISORS LLC 0.09% of their portfolio MIAMI, FL 587,342587.3k $101.4m $101.4m 0.09% Reduced -537.8k -537,841
18 GOLDMAN SACHS GROUP INC 0.02% of their portfolio NEW YORK, NY 538,287538.3k $92.9m $92.9m 0.02% Reduced -47.3k -47,294
19 AMERICAN CENTURY COMPANIES INC 0.05% of their portfolio KANSAS CITY, MO 530,809530.8k $91.6m $91.6m 0.05% Added +68.6k +68,638
20 BlackRock, Inc. 0.00% of their portfolio New York, NY 471,726471.7k $81.4m $81.4m 0.00% Reduced -45.4k -45,428
21 FIL Ltd 0.07% of their portfolio HAMILTON, D0 464,096464.1k $80.1m $80.1m 0.07% Added +1.7k +1,730
22 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.13% of their portfolio Boston, MA 459,606459.6k $79.3m $79.3m 0.13% Added +132.2k +132,201
23 GROUPAMA ASSET MANAGMENT 0.01% of their portfolio PARIS, I0 400,000400.0k $505.8k $505.8k 0.01% Unchanged
24 ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio NASHVILLE, TN 377,701377.7k $65.2m $65.2m 0.02% Reduced -54.4k -54,397
25 Woodline Partners LP 0.28% of their portfolio San Francisco, CA 305,454305.5k $52.7m $52.7m 0.28% Added +648 +648
26 TD Asset Management Inc 0.04% of their portfolio Toronto, A6 292,090292.1k $50.4m $50.4m 0.04% Reduced -51.3k -51,300
27 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.12% of their portfolio Paris, I0 276,984277.0k $47.8m $47.8m 0.12% Reduced -53.2k -53,169
28 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.17% of their portfolio JUPITER, FL 263,267263.3k $45.4m $45.4m 0.17% Reduced -82.8k -82,751
29 Q Global Advisors, LLC 37.03% of their portfolio FORT WORTH, TX 255,000255.0k $44.0m $44.0m 37.03% Added +6.1k +6,113
30 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 254,785254.8k $44.0m $44.0m 0.00% Reduced -1.6m -1,648,746
31 Camber Capital Management LP 6.01% of their portfolio BOSTON, MA 250,000250.0k $43.1m $43.1m 6.01% Reduced -100.0k -100,000
32 Siren, L.L.C. 2.20% of their portfolio New York, NY 245,943245.9k $42.4m $42.4m 2.20% Reduced -41.4k -41,423
33 SEI INVESTMENTS CO 0.05% of their portfolio OAKS, PA 236,570236.6k $40.8m $40.8m 0.05% Reduced -21.4k -21,443
34 PFM Health Sciences, LP 3.32% of their portfolio SAN FRANCISCO, CA 221,754221.8k $38.3m $38.3m 3.32% Added +34.8k +34,838
35 VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio San Antonio, TX 219,118219.1k $37.8m $37.8m 0.02% Added +94.2k +94,192
36 Rock Springs Capital Management LP 2.33% of their portfolio Baltimore, MD 217,000217.0k $37.5m $37.5m 2.33% Added +1.0k +1,000
37 ARS Investment Partners, LLC 2.64% of their portfolio New York, NY 209,930209.9k $36.2m $36.2m 2.64% Reduced -55.2k -55,234
38 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 208,141208.1k $35.9m $35.9m 0.00% Added +23.0k +23,019
39 Qube Research & Technologies Ltd 0.05% of their portfolio LONDON, X0 201,044201.0k $34.7m $34.7m 0.05% Added +91.4k +91,412
40 Allspring Global Investments Holdings, LLC 0.06% of their portfolio CHARLOTTE, NC 200,257200.3k $34.4m $34.4m 0.06% Added +10.6k +10,644
41 Vestal Point Capital, LP 1.82% of their portfolio NEW YORK, NY 200,000200.0k $34.5m $34.5m 1.82% Added +49.9k +49,858
42 Candriam S.C.A. 0.19% of their portfolio STRASSEN, N4 195,115195.1k $33.7m $33.7m 0.19% Reduced -47.6k -47,646
43 Driehaus Capital Management LLC 0.27% of their portfolio Chicago, IL 195,108195.1k $33.7m $33.7m 0.27% Added +43.3k +43,279
44 NEW YORK STATE COMMON RETIREMENT FUND 0.04% of their portfolio ALBANY, NY 182,558182.6k $31.5m $31.5m 0.04% Reduced -21.9k -21,924
45 Catalio Capital Management, LP 6.51% of their portfolio NEW YORK, NY 179,926179.9k $31.1m $31.1m 6.51% Reduced -15.6k -15,597
46 BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio PARIS, I0 165,667165.7k $28.6m $28.6m 0.02% Added +23.0k +23,043
47 Resolute Capital Asset Partners LLC 14.49% of their portfolio DENVER, CO 160,672160.7k $27.7m $27.7m 14.49% Reduced -6.8k -6,828
48 RICE HALL JAMES & ASSOCIATES, LLC 1.49% of their portfolio San Diego, CA 160,110160.1k $27.6m $27.6m 1.49% Reduced -686 -686
49 LORD, ABBETT & CO. LLC 0.09% of their portfolio JERSEY CITY, NJ 154,176154.2k $26.6m $26.6m 0.09% New
50 LOOMIS SAYLES & CO L P 0.03% of their portfolio BOSTON, MA 148,497148.5k $25.6m $25.6m 0.03% Reduced -26.4k -26,416
51 Tri Locum Partners LP 7.73% of their portfolio NEW YORK, NY 147,642147.6k $25.5m $25.5m 7.73% Added +115.3k +115,317
52 Aberdeen Group plc 0.04% of their portfolio EDINBURGH, X0 139,606139.6k $24.1m $24.1m 0.04% Reduced -32.1k -32,125
53 First Turn Management, LLC 4.34% of their portfolio DEL MAR, CA 134,687134.7k $23.2m $23.2m 4.34% Added +21.4k +21,409
54 Frazier Life Sciences Management, L.P. 0.92% of their portfolio PALO ALTO, CA 133,333133.3k $23.0m $23.0m 0.92% Unchanged
55 SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC 0.87% of their portfolio Boston, MA 130,000130.0k $22.4m $22.4m 0.87% New
56 MOORE CAPITAL MANAGEMENT, LP 0.41% of their portfolio NEW YORK, NY 120,000120.0k $20.7m $20.7m 0.41% Added +30.0k +30,000
57 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 117,616117.6k $20.3m $20.3m 0.00% Added +28.4k +28,407
58 MARSHALL WACE, LLP 0.02% of their portfolio LONDON, X0 117,162117.2k $20.2m $20.2m 0.02% Added +94.9k +94,868
59 MACQUARIE GROUP LTD 0.02% of their portfolio Sydney, NSW 2000, C3 116,735116.7k $20.1m $20.1m 0.02% New
60 READYSTATE ASSET MANAGEMENT LP 0.72% of their portfolio CHICAGO, IL 100,917100.9k $17.4m $17.4m 0.72% New
61 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 97,81897.8k $16.9m $16.9m 0.00% Reduced -40.1k -40,074
62 SILVERARC CAPITAL MANAGEMENT, LLC 3.06% of their portfolio BOSTON, MA 86,55286.6k $14.9m $14.9m 3.06% Added +10.8k +10,801
63 Pictet Asset Management Holding SA 0.01% of their portfolio CAROUGE, V8 85,53885.5k $14.7m $14.7m 0.01% Reduced -21.2k -21,220
64 Soleus Capital Management, L.P. 1.01% of their portfolio GREENWICH, CT 85,00085.0k $14.7m $14.7m 1.01% Added +28.7k +28,700
65 UBS Group AG 0.00% of their portfolio ZURICH, V8 82,76082.8k $14.3m $14.3m 0.00% Reduced -91.1k -91,081
66 HARBOR CAPITAL ADVISORS, INC. 0.57% of their portfolio CHICAGO, IL 78,56078.6k $13.6m $13.6m 0.57% Reduced -7.4k -7,400
67 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 72,88872.9k $12.6m $12.6m 0.01% Reduced -192.0k -191,979
68 DAFNA Capital Management LLC 3.46% of their portfolio LOS ANGELES, CA 72,67772.7k $12.5m $12.5m 3.46% Reduced -7.7k -7,721
69 Trexquant Investment LP 0.12% of their portfolio STAMFORD, CT 64,13564.1k $11.1m $11.1m 0.12% Added +20.4k +20,375
70 ODDO BHF ASSET MANAGEMENT SAS 0.42% of their portfolio PARIS, I0 63,54763.5k $11.0m $11.0m 0.42% Not comparable
71 Ensign Peak Advisors, Inc 0.02% of their portfolio SALT LAKE CITY, UT 61,72461.7k $10.7m $10.7m 0.02% Unchanged
72 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 60,80460.8k $10.5m $10.5m 0.00% Added +3.0k +2,953
73 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 58,25158.3k $10.1m $10.1m 0.01% Reduced -20.9k -20,881
74 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 58,20358.2k $10.0m $10.0m 0.00% Reduced -8.6k -8,576
75 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 56,98957.0k $9.8m $9.8m 0.01% Reduced -47.9k -47,928
76 Sterling Capital Management LLC 0.13% of their portfolio CHARLOTTE, NC 54,50954.5k $9.4m $9.4m 0.13% Added +3.4k +3,432
77 LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 52,62852.6k $9.1m $9.1m 0.01% Added +9.5k +9,505
78 DIVERSIFIED TRUST CO 0.17% of their portfolio MEMPHIS, TN 45,41845.4k $7.8m $7.8m 0.17% Reduced -1.1k -1,130
79 Parkman Healthcare Partners LLC 0.84% of their portfolio STAMFORD, CT 42,10842.1k $7.3m $7.3m 0.84% New
80 Walleye Capital LLC 0.06% of their portfolio NEW YORK, NY 40,40340.4k $7.0m $7.0m 0.06% Added +24.6k +24,566
81 Zimmer Partners, LP 0.16% of their portfolio NEW YORK, NY 40,30040.3k $7.0m $7.0m 0.16% Added +4.2k +4,200
82 Saturn V Capital Management LP 2.67% of their portfolio AUSTIN, TX 38,19138.2k $6.6m $6.6m 2.67% Reduced -161.1k -161,073
83 ORBIMED ADVISORS LLC 0.15% of their portfolio New York, NY 34,40034.4k $5.9m $5.9m 0.15% New
84 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 33,32533.3k $5.8m $5.8m 0.01% Reduced -2.0k -1,985
85 Empowered Funds, LLC 0.06% of their portfolio NEWTOWN SQUARE, PA 33,19633.2k $5.7m $5.7m 0.06% New
86 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 31,49131.5k $5.4m $5.4m 0.00% Added +7.4k +7,410
87 DekaBank Deutsche Girozentrale 0.01% of their portfolio FRANKFURT, 2M 30,00030.0k $5.1m $5.1m 0.01% Unchanged
88 Troluce Capital Advisors LLC 2.64% of their portfolio DORADO, PR 30,00030.0k $5.2m $5.2m 2.64% New
89 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 29,73129.7k $5.1m $5.1m 0.00% Added +1.1k +1,080
90 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 29,36729.4k $5.1m $5.1m 0.01% Added +5.6k +5,621
91 Bellevue Group AG 0.11% of their portfolio ZURICH, V8 28,65528.7k $4.9m $4.9m 0.11% Added +26.8k +26,755
92 CAPITAL INTERNATIONAL SARL 0.09% of their portfolio Los Angeles, CA 28,16128.2k $4.9m $4.9m 0.09% Added +2.8k +2,779
93 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 28,11628.1k $4.9m $4.9m 0.00% New
94 Matisse Capital 2.28% of their portfolio PORTLAND, OR 27,94227.9k $4.8m $4.8m 2.28% Reduced -1.7k -1,732
95 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 26,09926.1k $4.5m $4.5m 0.00% Added +4.9k +4,935
96 NOMURA ASSET MANAGEMENT CO LTD 0.01% of their portfolio TOKYO, M0 25,64525.6k $4.4m $4.4m 0.01% Added +4.3k +4,343
97 BROWN ADVISORY INC 0.01% of their portfolio BALTIMORE, MD 25,50525.5k $4.4m $4.4m 0.01% Reduced -355 -355
98 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 23,23423.2k $4.0m $4.0m 0.00% Reduced -23.1k -23,096
99 ACUTA CAPITAL PARTNERS, LLC 5.44% of their portfolio REDWOOD CITY, CA 22,57622.6k $3.9m $3.9m 5.44% Reduced -764 -764
100 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 21,73021.7k $3.8m $3.8m 0.00% Added +9.9k +9,879