GENMAB A/S GMAB
SPONSORED ADS · ADR · CUSIP 372303206
- SectorHealth care
- IndustryPharmaceutical Preparations
- FilingsSEC EDGAR
* 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 ($5.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $30.81. Options: 6 managers hold calls ($3.3m notional), 5 hold puts ($2.5m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 194 |
| Q4 2022 | 238 |
| Q1 2023 | 217 |
| Q2 2023 | 215 |
| Q3 2023 | 236 |
| Q4 2023 | 227 |
| Q1 2024 | 228 |
| Q2 2024 | 221 |
| Q3 2024 | 225 |
| Q4 2024 | 230 |
| Q1 2025 | 222 |
| Q2 2025 | 219 |
| Q3 2025 | 254 |
| Q4 2025 | 294 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 127 | 112 |
| Q2 2024 | 92 | 128 |
| Q3 2024 | 124 | 89 |
| Q4 2024 | 115 | 117 |
| Q1 2025 | 122 | 108 |
| Q2 2025 | 117 | 111 |
| Q3 2025 | 164 | 90 |
| Q4 2025 | 184 | 84 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $15.4m | $9.4m | 0.61 |
| Q2 2025 | $1.1m | $1.7m | 1.57 |
| Q3 2025 | $2.4m | $557.9k | 0.23 |
| Q4 2025 | $3.3m | $2.5m | 0.76 |
Biggest buyers
| Orbis Allan Gray Ltd | Added | +3.3m |
| Paradigm Biocapital Advisors LP | Added | +3.2m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +1.3m |
| BlackRock, Inc. | Added | +1.1m |
| Pictet Asset Management Holding SA | New | +1.1m |
| Perpetual Ltd | New | +827.2k |
| RENAISSANCE TECHNOLOGIES LLC | Added | +671.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +594.4k |
| Alyeska Investment Group, L.P. | New | +506.7k |
| Balyasny Asset Management L.P. | New | +379.4k |
Biggest sellers
| TWO SIGMA ADVISERS, LP | Reduced | -1.1m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -495.4k |
| Deep Track Capital, LP | Sold out | -481.3k |
| Brandywine Global Investment Management, LLC | Reduced | -381.4k |
| FIRST TRUST ADVISORS LP | Reduced | -352.1k |
| TANG CAPITAL MANAGEMENT LLC | Sold out | -200.0k |
| Ikarian Capital, LLC | Sold out | -175.0k |
| MARSHALL WACE, LLP | Reduced | -174.8k |
| CAPITAL FUND MANAGEMENT S.A. | Sold out | -161.7k |
| Avidity Partners Management LP | Reduced | -156.1k |
Biggest calls
| JANE STREET GROUP, LLC | Added | $1.2m39.4k shares |
| CITADEL ADVISORS LLC | Reduced | $828.5k26.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $474.3k15.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $415.8k13.5k shares |
| IMC-Chicago, LLC | New | $317.2k10.3k shares |
| GROUP ONE TRADING LLC | Reduced | $83.2k2.7k shares |
Biggest puts
| GROUP ONE TRADING LLC | Added | $843.9k27.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $705.3k22.9k shares |
| JANE STREET GROUP, LLC | New | $486.6k15.8k shares |
| CITADEL ADVISORS LLC | Added | $406.6k13.2k shares |
| SIMPLEX TRADING, LLC | Reduced | $98.6k3.2k 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.
| Holder | Stake |
|---|---|
| Darwin Global Management, Ltd. 13G · passive investor new · filed 2026-10-05 | 5.9% |
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
| Manager | Shares | Change |
|---|---|---|
| Orbis Allan Gray Ltd 1.86% of their portfolio | 14.4m $444.1m | Added +3.3m |
| ALLIANCEBERNSTEIN L.P. 0.11% of their portfolio | 10.9m $335.0m | Reduced -76.8k |
| Paradigm Biocapital Advisors LP 5.81% of their portfolio | 7.0m $216.8m | Added +3.2m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.09% of their portfolio | 5.0m $153.3m | Added +1.3m |
| BlackRock, Inc. 0.00% of their portfolio | 4.6m $141.5m | Added +1.1m |
| RENAISSANCE TECHNOLOGIES LLC 0.17% of their portfolio | 3.5m $107.6m | Added +671.3k |
| Harding Loevner LP 0.91% of their portfolio | 3.4m $103.9m | Reduced -114.3k |
| MORGAN STANLEY 0.00% of their portfolio | 1.8m $56.5m | Added +159.9k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 1.3m $41.1m | Reduced -352.1k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 1.3m $41.1m | Added +214.7k |
| Pictet Asset Management Holding SA 0.03% of their portfolio | 1.1m $33.8m | New |
| FMR LLC 0.00% of their portfolio | 1.1m $32.6m | Reduced -62.4k |
| Brandywine Global Investment Management, LLC 0.21% of their portfolio | 1.0m $31.8m | Reduced -381.4k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 957.0k $29.5m | Added +74.7k |
| TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio | 895.8k $27.6m | Reduced -495.4k |
| Perpetual Ltd 0.37% of their portfolio | 827.2k $25.5m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 806.6k $24.8m | Reduced -3.3k |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 710.6k $21.9m | Reduced -112.2k |
| FEDERATED HERMES, INC. 0.03% of their portfolio | 679.4k $20.9m | Added +256.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio | 612.3k $18.9m | Added +594.4k |
| Alyeska Investment Group, L.P. 0.04% of their portfolio | 506.7k $15.6m | New |
| LPL Financial LLC 0.00% of their portfolio | 438.0k $13.5m | Added +66.8k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 431.6k $13.3m | Added +59.5k |
| Balyasny Asset Management L.P. 0.02% of their portfolio | 379.4k $11.7m | New |
| Woodline Partners LP 0.04% of their portfolio | 369.2k $11.4m | Reduced -90.0k |
| CIBC WORLD MARKET INC. 0.02% of their portfolio | 367.3k $11.3m | Added +87.3k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.14% of their portfolio | 364.8k $11.2m | Added +48.9k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 358.4k $11.0m | Reduced -174.8k |
| TWO SIGMA ADVISERS, LP 0.02% of their portfolio | 340.0k $10.5m | Reduced -1.1m |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 339.9k $10.5m | Added +11.8k |
| Hudson Bay Capital Management LP 0.06% of their portfolio | 325.0k $10.0m | Added +60.0k |
| EAGLE GLOBAL ADVISORS LLC 0.28% of their portfolio | 249.3k $7.7m | Added +4.8k |
| Quantinno Capital Management LP 0.02% of their portfolio | 246.9k $7.6m | Added +37.1k |
| ASSETMARK, INC 0.01% of their portfolio | 233.9k $7.2m | Added +224.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 228.5k $7.0m | Reduced -7.9k |
| UBS Group AG 0.00% of their portfolio | 184.2k $5.7m | Added +102.0k |
| FOLKETRYGDFONDET 0.13% of their portfolio | 174.8k $5.4m | Unchanged |
| AIMZ Investment Advisors, LLC 1.44% of their portfolio | 163.3k $5.0m | Reduced -1.2k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 147.5k $4.5m | Added +31.4k |
| NEOS Investment Management LLC 0.03% of their portfolio | 140.7k $4.3m | Added +8.7k |
| Private Wealth Advisors, LLC 1.46% of their portfolio | 131.7k $4.1m | Reduced -3.4k |
| Creative Planning 0.00% of their portfolio | 130.6k $4.0m | Added +14.7k |
| FRED ALGER MANAGEMENT, LLC 0.02% of their portfolio | 130.5k $4.0m | New |
| US BANCORP \DE\ 0.00% of their portfolio | 129.3k $4.0m | Added +15.5k |
| Optiver Holding B.V. 0.07% of their portfolio | 125.9k $3.9m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 110.8k $3.4m | Added +9.6k |
| Tower Research Capital LLC (TRC) 0.08% of their portfolio | 110.7k $3.4m | Added +109.6k |
| Vestmark Advisory Solutions, Inc. 0.05% of their portfolio | 109.4k $3.4m | New |
| ABC ARBITRAGE SA 0.31% of their portfolio | 105.9k $3.3m | New |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 94.6k $2.9m | Added +3.7k |
| Avidity Partners Management LP 0.82% of their portfolio | 92.0k $2.8m | Reduced -156.1k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio | 84.3k $2.6m | Reduced -46.5k |
| Cetera Investment Advisers 0.00% of their portfolio | 83.9k $2.6m | Added +9.9k |
| NATIXIS ADVISORS, LLC 0.00% of their portfolio | 83.1k $2.6m | Reduced -110.8k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 82.2k $2.5m | Added +8.5k |
| Quadrature Capital Ltd 0.03% of their portfolio | 79.9k $2.5m | Added +44.3k |
| OLD MISSION CAPITAL LLC 0.09% of their portfolio | 78.9k $2.4m | New |
| SEI INVESTMENTS CO 0.00% of their portfolio | 75.0k $2.3m | Added +2.8k |
| Vanguard Personalized Indexing Management, LLC 0.02% of their portfolio | 73.7k $2.3m | Reduced -5.6k |
| INGALLS & SNYDER LLC 0.08% of their portfolio | 73.1k $2.3m | Reduced -34.2k |
| Ishara Investments LP 2.51% of their portfolio | 70.0k $2.2m | First filing |
| Sanctuary Advisors, LLC 0.01% of their portfolio | 68.8k $2.1m | Added +10.8k |
| Madison Asset Management, LLC 0.02% of their portfolio | 66.5k $2.0m | Added +5.0k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 61.5k $1.9m | Added +2.3k |
| Mitsubishi UFJ Trust & Banking Corp 0.00% of their portfolio | 61.5k $1.9m | Added +642 |
| QRG CAPITAL MANAGEMENT, INC. 0.02% of their portfolio | 61.3k $1.9m | Added +6.1k |
| LEVEL FOUR ADVISORY SERVICES, LLC 0.06% of their portfolio | 61.0k $1.9m | Reduced -6.3k |
| Terra Nova Asset Management LLC 1.23% of their portfolio | 60.6k $1.9m | New |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 56.9k $1.8m | Added +10.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 56.5k $1.7m | Added +1.2k |
| Callan Family Office, LLC 0.04% of their portfolio | 56.1k $1.7m | Added +21.1k |
| Mariner, LLC 0.00% of their portfolio | 55.8k $1.7m | Added +8.2k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 55.6k $1.7m | Reduced -707 |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 52.9k $1.6m | Added +10.1k |
| CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio | 50.4k $1.6m | Added +22.1k |
| HRT FINANCIAL LP 0.01% of their portfolio | 49.2k $1.5m | Reduced -17.7k |
| FIFTH THIRD BANCORP 0.00% of their portfolio | 48.7k $1.5m | Added +8.4k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 47.9k $1.5m | Added +12.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 47.6k $1.5m | Added +17.4k |
| Pinnacle Financial Partners, Inc. 0.01% of their portfolio | 47.3k $1.5m | First filing |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 46.8k $1.4m | Added +5.9k |
| Dorsey Wright & Associates 0.30% of their portfolio | 44.8k $1.4m | New |
| DAVENPORT & Co LLC 0.01% of their portfolio | 44.8k $1.4m | Added +11.3k |
| Arrowpoint Investment Partners (Singapore) Pte. Ltd. 0.20% of their portfolio | 43.2k $1.3m | New |
| Atria Investments, Inc 0.01% of their portfolio | 42.5k $1.3m | Added +12.9k |
| Cerity Partners LLC 0.00% of their portfolio | 40.6k $1.3m | Added +2.3k |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 39.9k $1.2m | Added +17.5k |
| Vident Advisory, LLC 0.01% of their portfolio | 39.7k $1.2m | Added +4.1k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 39.5k $1.2m | New |
| MML INVESTORS SERVICES, LLC 0.00% of their portfolio | 39.2k $1.2m | Added +1.3k |
| TRUIST FINANCIAL CORP 0.00% of their portfolio | 38.5k $1.2m | Added +11.8k |
| CITIGROUP INC 0.00% of their portfolio | 38.2k $1.2m | Reduced -60.6k |
| GRANDFIELD & DODD, LLC 0.07% of their portfolio | 38.1k $1.2m | Reduced -1.0k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 37.1k $1.1m | Added +21.0k |
| KEYBANK NATIONAL ASSOCIATION/OH 0.00% of their portfolio | 35.7k $1.1m | Added +1.0k |
| XTX Topco Ltd 0.03% of their portfolio | 35.6k $1.1m | Added +5.1k |
| Braeburn Wealth Management LLC 0.55% of their portfolio | 35.2k $1.1m | First filing |
| Corient Private Wealth LP 0.00% of their portfolio | 34.9k $1.1m | Added +19.2k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 34.2k $1.1m | Added +26.5k |
| Sequoia Financial Advisors, LLC 0.01% of their portfolio | 32.3k $996.0k | Added +5.9k |