Vault-13

BELITE BIO INC BLTE

SPONSORED ADS · ADR · CUSIP 07782B104

69 institutional holders +35 vs Q3 2025
7,190,9927.2m shares reported held*
$1.2bnreported value*
36 new 17 added 10 reduced 4 sold out net bought ≈ $776.6m (+4.9m 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 ($16.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $160.33.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 8Q4 22: 8Q1 23: 9Q2 23: 7Q3 23: 8Q4 23: 18Q1 24: 12Q2 24: 12Q3 24: 16Q4 24: 23Q1 25: 19Q2 25: 19Q3 25: 34Q4 25: 6969Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 20228
Q4 20228
Q1 20239
Q2 20237
Q3 20238
Q4 202318
Q1 202412
Q2 202412
Q3 202416
Q4 202423
Q1 202519
Q2 202519
Q3 202534
Q4 202569

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 2 bought or addedQ1 24: 14 cut or sold outQ2 24: 4 bought or addedQ2 24: 8 cut or sold outQ2 24Q3 24: 11 bought or addedQ3 24: 4 cut or sold outQ4 24: 14 bought or addedQ4 24: 7 cut or sold outQ4 24Q1 25: 12 bought or addedQ1 25: 15 cut or sold outQ2 25: 12 bought or addedQ2 25: 11 cut or sold outQ2 25Q3 25: 27 bought or addedQ3 25: 5 cut or sold outQ4 25: 53 bought or addedQ4 25: 14 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024214
Q2 202448
Q3 2024114
Q4 2024147
Q1 20251215
Q2 20251211
Q3 2025275
Q4 20255314

Biggest buyers

Darwin Global Management, Ltd. New +3,027,704+3.0m
MILLENNIUM MANAGEMENT LLC Added +538,141+538.1k
RTW INVESTMENTS, LP Added +402,832+402.8k
PERCEPTIVE ADVISORS LLC Added +364,451+364.5k
Point72 Asset Management, L.P. Added +281,337+281.3k
DEERFIELD MANAGEMENT COMPANY, L.P. New +233,813+233.8k
EVENTIDE ASSET MANAGEMENT, LLC Added +187,779+187.8k
UBS Group AG Added +117,418+117.4k
MPM BIOIMPACT LLC New +87,760+87.8k
Holocene Advisors, LP New +84,067+84.1k

Biggest sellers

RA CAPITAL MANAGEMENT, L.P. Reduced -442,516-442.5k
Vestal Point Capital, LP Sold out -312,500-312.5k
Soleus Capital Management, L.P. Reduced -169,646-169.6k
JPMORGAN CHASE & CO Reduced -19,615-19.6k
BNP PARIBAS FINANCIAL MARKETS Reduced -9,101-9.1k
Polymer Capital Management (HK) LTD Sold out -7,266-7.3k
CITADEL ADVISORS LLC Reduced -5,772-5.8k
GEODE CAPITAL MANAGEMENT, LLC Reduced -5,180-5.2k
China Universal Asset Management Co., Ltd. Reduced -4,500-4.5k
RENAISSANCE TECHNOLOGIES LLC Sold out -2,812-2.8k

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
Lin Bioscience International Ltd. 13G · exempt (held before listing) new · filed 2025-01-21 53.7% new 17.1m 2025-01-21
Darwin Global Management, Ltd. 13G · passive investor +1.1 pts · filed 2026-02-17 8.1% +1.1 pts 3.0m 2026-02-17

Fell to 5% or below in the last year: Lin Yu-Hsin (3.1%, 2026-05-14)

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 Darwin Global Management, Ltd. 9.86% of their portfolio ST. HELIER, Y9 3,027,7043.0m $486.9m $486.9m 9.86% New
2 RTW INVESTMENTS, LP 1.15% of their portfolio NEW YORK, NY 715,332715.3k $114.4m $114.4m 1.15% Added +402.8k +402,832
3 MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio NEW YORK, NY 558,882558.9k $89.4m $89.4m 0.06% Added +538.1k +538,141
4 RA CAPITAL MANAGEMENT, L.P. 0.71% of their portfolio BOSTON, MA 432,484432.5k $69.2m $69.2m 0.71% Reduced -442.5k -442,516
5 PERCEPTIVE ADVISORS LLC 1.21% of their portfolio NEW YORK, NY 414,239414.2k $66.3m $66.3m 1.21% Added +364.5k +364,451
6 EVENTIDE ASSET MANAGEMENT, LLC 0.96% of their portfolio Boston, MA 383,091383.1k $61.3m $61.3m 0.96% Added +187.8k +187,779
7 Point72 Asset Management, L.P. 0.07% of their portfolio STAMFORD, CT 284,437284.4k $45.5m $45.5m 0.07% Added +281.3k +281,337
8 DEERFIELD MANAGEMENT COMPANY, L.P. 0.48% of their portfolio New York, NY 233,813233.8k $37.4m $37.4m 0.48% New
9 MARSHALL WACE, LLP 0.03% of their portfolio LONDON, X0 192,700192.7k $30.8m $30.8m 0.03% Added +5.2k +5,200
10 UBS Group AG 0.00% of their portfolio ZURICH, V8 128,752128.8k $20.6m $20.6m 0.00% Added +117.4k +117,418
11 MPM BIOIMPACT LLC 1.61% of their portfolio BOSTON, MA 87,76087.8k $14.0m $14.0m 1.61% New
12 Holocene Advisors, LP 0.03% of their portfolio New York, NY 84,06784.1k $13.4m $13.4m 0.03% New
13 FRED ALGER MANAGEMENT, LLC 0.05% of their portfolio NEW YORK, NY 79,39479.4k $12.7m $12.7m 0.05% New
14 Western Standard LLC 4.43% of their portfolio Los Angeles, CA 60,02660.0k $9.6m $9.6m 4.43% New
15 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 44,59944.6k $7.1m $7.1m 0.00% Added +40.9k +40,893
16 Soleus Capital Management, L.P. 0.27% of their portfolio GREENWICH, CT 40,35440.4k $6.5m $6.5m 0.27% Reduced -169.6k -169,646
17 ADAR1 Capital Management, LLC 0.48% of their portfolio AUSTIN, TX 39,83939.8k $6.4m $6.4m 0.48% New
18 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 32,31832.3k $5.2m $5.2m 0.01% New
19 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 28,01328.0k $4.5m $4.5m 0.00% Added +22.8k +22,783
20 Squadron Capital Management LLC 1.86% of their portfolio OAK BROOK, IL 26,00026.0k $4.2m $4.2m 1.86% First filing
21 Quadrature Capital Ltd 0.04% of their portfolio LONDON, X0 24,83224.8k $4.0m $4.0m 0.04% Added +21.0k +21,002
22 SUPERSTRING CAPITAL MANAGEMENT LP 2.12% of their portfolio NEW YORK, NY 24,70324.7k $4.0m $4.0m 2.12% New
23 Affinity Asset Advisors, LLC 0.23% of their portfolio NEW YORK, NY 20,00020.0k $3.2m $3.2m 0.23% New
24 PFM Health Sciences, LP 0.32% of their portfolio SAN FRANCISCO, CA 19,82319.8k $3.2m $3.2m 0.32% New
25 Woodline Partners LP 0.01% of their portfolio San Francisco, CA 18,04118.0k $2.9m $2.9m 0.01% New
26 Artia Global Partners LP 0.46% of their portfolio MIAMI, FL 17,98918.0k $2.9m $2.9m 0.46% New
27 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 15,74015.7k $2.5m $2.5m 0.00% Added +2.5k +2,467
28 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 15,53815.5k $2.5m $2.5m 0.00% New
29 Exome Asset Management LLC 1.13% of their portfolio NEW YORK, NY 14,32814.3k $2.3m $2.3m 1.13% New
30 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 13,22113.2k $2.1m $2.1m 0.00% Added +10.2k +10,190
31 BOOTHBAY FUND MANAGEMENT, LLC 0.05% of their portfolio NEW YORK, NY 11,89711.9k $1.9m $1.9m 0.05% New
32 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 10,44510.4k $1.7m $1.7m 0.00% Reduced -5.2k -5,180
33 STEMPOINT CAPITAL LP 0.25% of their portfolio NEW YORK, NY 9,1639.2k $1.5m $1.5m 0.25% New
34 Seven Fleet Capital Management LP 0.99% of their portfolio MOUNTAIN VIEW, CA 9,1619.2k $1.5m $1.5m 0.99% First filing
35 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 8,1648.2k $1.3m $1.3m 0.01% New
36 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 6,1986.2k $991.4k $991.4k 0.00% New
37 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 5,0555.1k $808.6k $808.6k 0.00% Reduced -5.8k -5,772
38 SmartHarvest Portfolios, LLC 0.23% of their portfolio SEATTLE, WA 4,1844.2k $669.3k $669.3k 0.23% First filing
39 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 4,1764.2k $668.0k $668.0k 0.00% New
40 High Net Worth Advisory Group LLC 0.13% of their portfolio NAPLES, FL 3,5003.5k $559.9k $559.9k 0.13% Unchanged
41 PSP Research LLC 0.48% of their portfolio LAS VEGAS, NV 3,4433.4k $550.7k $550.7k 0.48% First filing
42 Y-Intercept (Hong Kong) Ltd 0.01% of their portfolio HONG KONG, K3 3,1523.2k $504.2k $504.2k 0.01% New
43 PRELUDE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio NEW YORK, NY 3,1193.1k $498.9k $498.9k 0.04% New
44 Arrowpoint Investment Partners (Singapore) Pte. Ltd. 0.07% of their portfolio SINGAPORE, U0 3,0493.0k $487.7k $487.7k 0.07% New
45 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 2,7552.8k $441.0k $441.0k 0.00% New
46 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 2,4482.4k $391.6k $391.6k 0.00% Reduced -9.1k -9,101
47 Yeomans Consulting Group, Inc. 0.11% of their portfolio Marietta, GA 2,3992.4k $383.7k $383.7k 0.11% New
48 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,1372.1k $341.8k $341.8k 0.00% Reduced -1.9k -1,873
49 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 2,0922.1k $334.0k $334.0k 0.00% New
50 INDEPENDENT FINANCIAL GROUP, LLC 0.01% of their portfolio SAN DIEGO, CA 2,0002.0k $319.9k $319.9k 0.01% New
51 Virtus Investment Advisers, LLC 0.08% of their portfolio HARTFORD, CT 1,8821.9k $301.0k $301.0k 0.08% Added +51 +51
52 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,8521.9k $296.2k $296.2k 0.00% Added +681 +681
53 GAMMA Investing LLC 0.01% of their portfolio FOSTER CITY, CA 1,7791.8k $284.6k $284.6k 0.01% Added +21 +21
54 Brooklyn Investment Group 0.01% of their portfolio NEW YORK, NY 1,7391.7k $287.4k $287.4k 0.01% New
55 EverSource Wealth Advisors, LLC 0.01% of their portfolio BIRMINGHAM, AL 1,5981.6k $255.6k $255.6k 0.01% Reduced -108 -108
56 GSA CAPITAL PARTNERS LLP 0.02% of their portfolio LONDON, X0 1,4631.5k $234.0k $234.0k 0.02% New
57 Independent Advisor Alliance 0.01% of their portfolio CHARLOTTE, NC 1,3191.3k $211.0k $211.0k 0.01% New
58 Persistent Asset Partners Ltd 0.05% of their portfolio HONG KONG, K3 673673 $107.7k $107.7k 0.05% New
59 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 645645 $103.2k $103.2k 0.00% New
60 Caitong International Asset Management Co., Ltd 0.02% of their portfolio HONG KONG, K3 549549 $87.8k $87.8k 0.02% Added +548 +548
61 China Universal Asset Management Co., Ltd. 0.01% of their portfolio SHANGHAI, F4 500500 $80.0k $80.0k 0.01% Reduced -4.5k -4,500
62 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 195195 $31.2k $31.2k 0.00% Added +192 +192
63 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 101101 $16.2k $16.2k 0.00% New
64 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 100100 $16.0k $16.0k 0.00% New
65 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 7070 $11.2k $11.2k 0.00% New
66 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 5050 $8.0k $8.0k 0.00% Reduced -2 -2
67 Rossby Financial, LCC 0.00% of their portfolio MELBOURNE, FL 1313 $2.1k $2.1k 0.00% Unchanged
68 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 66 $960 $960 0.00% New
69 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 33 $480 $480 0.00% Reduced -19.6k -19,615