Vault-13

KARUNA THERAPEUTICS INC

COM · CUSIP 48576A100

290 institutional holders +42 vs Q1 2023
37,996,76838.0m shares reported held*
$8.2bnreported value*
71 new 92 added 90 reduced 30 sold out net sold ≈ $1.4bn (-6.6m 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 ($54.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $216.72. Options: 19 managers hold calls ($207.4m notional), 17 hold puts ($111.0m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 257Q4 22: 248Q1 23: 248Q2 23: 290290Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022257
Q4 2022248
Q1 2023248
Q2 2023290

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 22: 138 bought or addedQ4 22: 114 cut or sold outQ4 22Q1 23: 148 bought or addedQ1 23: 105 cut or sold outQ1 23Q2 23: 163 bought or addedQ2 23: 120 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022138114
Q1 2023148105
Q2 2023163120

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ3 22 calls: $99.1mQ3 22 puts: $38.4mQ3 22P/C 0.39Q4 22 calls: $87.5mQ4 22 puts: $45.5mQ4 22P/C 0.52Q1 23 calls: $175.8mQ1 23 puts: $80.7mQ1 23P/C 0.46Q2 23 calls: $207.4mQ2 23 puts: $111.0mQ2 23P/C 0.54
Numbers
QuarterCallsPutsP/C
Q3 2022$99.1m$38.4m0.39
Q4 2022$87.5m$45.5m0.52
Q1 2023$175.8m$80.7m0.46
Q2 2023$207.4m$111.0m0.54

Biggest buyers

Capital International Investors Added +602,942+602.9k
Paradigm Biocapital Advisors LP New +283,605+283.6k
Boxer Capital, LLC New +250,000+250.0k
PRICE T ROWE ASSOCIATES INC /MD/ Added +179,932+179.9k
LORD, ABBETT & CO. LLC Added +166,928+166.9k
MILLENNIUM MANAGEMENT LLC New +154,378+154.4k
Patient Capital Management, LLC Added +153,451+153.5k
Polar Capital Holdings Plc New +151,450+151.4k
EAGLE ASSET MANAGEMENT INC Added +121,630+121.6k
CITADEL ADVISORS LLC New +94,734+94.7k

Biggest sellers

FMR LLC Reduced -5,595,584-5.6m
BlackRock Inc. Reduced -605,163-605.2k
VIKING GLOBAL INVESTORS LP Reduced -553,119-553.1k
Point72 Asset Management, L.P. Reduced -517,558-517.6k
Sofinnova Investments, Inc. Reduced -391,975-392.0k
ALLIANCEBERNSTEIN L.P. Reduced -242,228-242.2k
WELLINGTON MANAGEMENT GROUP LLP Reduced -206,617-206.6k
STATE STREET CORP Reduced -181,249-181.2k
Miller Value Partners, LLC Sold out -164,998-165.0k
NORTHERN TRUST CORP Reduced -147,913-147.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $37.7m173.7k shares
Caption Management, LLC Reduced $33.5m154.5k shares
JPMORGAN CHASE & CO New $28.2m130.0k shares
Parallax Volatility Advisers, L.P. New $25.8m118.9k shares
JANE STREET GROUP, LLC Added $20.7m95.5k shares
SIMPLEX TRADING, LLC Reduced $13.4m61.9k shares
CITADEL ADVISORS LLC Reduced $9.7m44.8k shares
D. E. Shaw & Co., Inc. Added $8.9m41.1k shares
Twin Tree Management, LP Reduced $7.2m33.1k shares
Nantahala Capital Management, LLC New $6.5m30.0k shares

Biggest puts

Twin Tree Management, LP Added $30.6m141.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $22.3m102.8k shares
JANE STREET GROUP, LLC Added $9.8m45.2k shares
D. E. Shaw & Co., Inc. Added $9.2m42.6k shares
MILLENNIUM MANAGEMENT LLC New $8.8m40.6k shares
Caption Management, LLC Added $7.6m35.0k shares
CITIGROUP INC New $4.3m20.0k shares
CITADEL ADVISORS LLC Reduced $3.3m15.4k shares
GROUP ONE TRADING LLC Reduced $3.2m14.8k shares
SIMPLEX TRADING, LLC Added $3.1m14.4k 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.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.10% of their portfolio BOSTON, MA 5,616,5885.6m $1.2bn $1.2bn 0.10% Reduced -5.6m -5,595,584
2 Capital International Investors 0.21% of their portfolio Los Angeles, CA 3,992,5494.0m $865.8m $865.8m 0.21% Added +602.9k +602,942
3 VANGUARD GROUP INC 0.02% of their portfolio Valley Forge, PA 3,097,8993.1m $671.8m $671.8m 0.02% Added +78.4k +78,353
4 PRICE T ROWE ASSOCIATES INC /MD/ 0.08% of their portfolio BALTIMORE, MD 2,661,4922.7m $577.1m $577.1m 0.08% Added +179.9k +179,932
5 T. Rowe Price Investment Management, Inc. 0.37% of their portfolio BALTIMORE, MD 2,479,0352.5m $537.6m $537.6m 0.37% Reduced -1.7k -1,730
6 BlackRock Inc. 0.01% of their portfolio New York, NY 1,864,6361.9m $404.3m $404.3m 0.01% Reduced -605.2k -605,163
7 WELLINGTON MANAGEMENT GROUP LLP 0.06% of their portfolio Boston, MA 1,400,2371.4m $303.6m $303.6m 0.06% Reduced -206.6k -206,617
8 Sofinnova Investments, Inc. 19.77% of their portfolio Menlo Park, CA 1,381,1491.4m $299.5m $299.5m 19.77% Reduced -392.0k -391,975
9 LORD, ABBETT & CO. LLC 0.43% of their portfolio JERSEY CITY, NJ 1,149,2121.1m $249.2m $249.2m 0.43% Added +166.9k +166,928
10 VIKING GLOBAL INVESTORS LP 0.84% of their portfolio STAMFORD, CT 947,955948.0k $205.6m $205.6m 0.84% Reduced -553.1k -553,119
11 STATE STREET CORP 0.01% of their portfolio BOSTON, MA 815,286815.3k $176.8m $176.8m 0.01% Reduced -181.2k -181,249
12 Pivotal bioVenture Partners Investment Advisor LLC 55.90% of their portfolio SAN FRANCISCO, CA 782,008782.0k $169.6m $169.6m 55.90% Unchanged
13 GENERAL ATLANTIC, L.P. 2.48% of their portfolio New York, NY 726,958727.0k $157.6m $157.6m 2.48% Added +10.8k +10,800
14 Rock Springs Capital Management LP 2.55% of their portfolio Baltimore, MD 493,527493.5k $107.0m $107.0m 2.55% Unchanged
15 GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BOSTON, MA 484,147484.1k $105.0m $105.0m 0.01% Reduced -118.3k -118,288
16 Avidity Partners Management LP 3.35% of their portfolio DALLAS, TX 442,200442.2k $95.9m $95.9m 3.35% Added +38.4k +38,400
17 Invesco Ltd. 0.02% of their portfolio ATLANTA, GA 395,557395.6k $85.8m $85.8m 0.02% Added +62.6k +62,602
18 ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio NASHVILLE, TN 383,962384.0k $83.3m $83.3m 0.03% Reduced -242.2k -242,228
19 EVENTIDE ASSET MANAGEMENT, LLC 1.25% of their portfolio Boston, MA 339,968340.0k $73.7m $73.7m 1.25% Added +70 +70
20 BROWN ADVISORY INC 0.11% of their portfolio BALTIMORE, MD 323,458323.5k $70.1m $70.1m 0.11% Added +397 +397
21 Paradigm Biocapital Advisors LP 4.98% of their portfolio NEW YORK, NY 283,605283.6k $61.5m $61.5m 4.98% New
22 NORGES BANK 0.01% of their portfolio OSLO, Q8 276,711276.7k $60.0m $60.0m 0.01% Reduced -69.2k -69,233
23 Boxer Capital, LLC 2.51% of their portfolio San Diego, CA 250,000250.0k $54.2m $54.2m 2.51% New
24 Fiera Capital Corp 0.15% of their portfolio MONTREAL, A8 232,760232.8k $50.5m $50.5m 0.15% Reduced -5.4k -5,418
25 Nan Fung Group Holdings Ltd 31.28% of their portfolio KAI TAK, K3 225,688225.7k $48.9m $48.9m 31.28% Unchanged
26 PICTET ASSET MANAGEMENT SA 0.05% of their portfolio GENEVA 73, V8 213,477213.5k $46.3m $46.3m 0.05% Reduced -31.8k -31,837
27 First Light Asset Management, LLC 3.55% of their portfolio Edina, MN 208,746208.7k $45.3m $45.3m 3.55% Reduced -34.9k -34,929
28 EAGLE ASSET MANAGEMENT INC 0.25% of their portfolio ST PETERSBURG, FL 206,460206.5k $44.8m $44.8m 0.25% Added +121.6k +121,630
29 FRANKLIN RESOURCES INC 0.02% of their portfolio San Mateo, CA 203,330203.3k $44.1m $44.1m 0.02% Added +6.8k +6,785
30 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 202,601202.6k $43.9m $43.9m 0.01% Reduced -17.3k -17,301
31 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 185,791185.8k $40.3m $40.3m 0.01% Reduced -65.3k -65,297
32 Ensign Peak Advisors, Inc 0.08% of their portfolio SALT LAKE CITY, UT 177,064177.1k $38.4m $38.4m 0.08% Added +35.7k +35,749
33 Patient Capital Management, LLC 2.13% of their portfolio BALTIMORE, MD 176,826176.8k $38.3m $38.3m 2.13% Added +153.5k +153,451
34 Nicholas Investment Partners, LP 2.31% of their portfolio RANCHO SANTA FE, CA 155,930155.9k $33.8m $33.8m 2.31% Added +108 +108
35 MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 154,378154.4k $33.5m $33.5m 0.04% New
36 Polar Capital Holdings Plc 0.23% of their portfolio London, X0 151,450151.4k $32.8m $32.8m 0.23% New
37 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 150,298150.3k $32.6m $32.6m 0.01% Added +3.1k +3,071
38 TD Asset Management Inc 0.04% of their portfolio Toronto, A6 148,427148.4k $32.2m $32.2m 0.04% Added +8.5k +8,492
39 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 143,995144.0k $31.2m $31.2m 0.01% Reduced -147.9k -147,913
40 PFM Health Sciences, LP 1.21% of their portfolio SAN FRANCISCO, CA 138,209138.2k $30.0m $30.0m 1.21% Unchanged
41 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio NEW YORK, NY 136,978137.0k $24.9m $24.9m 0.01% Unchanged
42 Allspring Global Investments Holdings, LLC 0.04% of their portfolio CHARLOTTE, NC 129,615129.6k $28.1m $28.1m 0.04% Added +80.8k +80,832
43 D. E. Shaw & Co., Inc. 0.04% of their portfolio New York, NY 119,326119.3k $25.9m $25.9m 0.04% Added +11.9k +11,907
44 Hood River Capital Management LLC 0.71% of their portfolio PALM BEACH GARDENS, FL 110,698110.7k $24.0m $24.0m 0.71% Reduced -101.6k -101,611
45 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio BALA CYNWYD, PA 105,783105.8k $22.9m $22.9m 0.04% Added +60.5k +60,487
46 NEW YORK STATE COMMON RETIREMENT FUND 0.03% of their portfolio ALBANY, NY 104,580104.6k $22.7m $22.7m 0.03% Added +19.7k +19,674
47 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 104,117104.1k $22.6m $22.6m 0.00% Added +10.9k +10,884
48 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 99,79599.8k $21.6m $21.6m 0.00% Reduced -132.4k -132,397
49 Clarius Group, LLC 1.66% of their portfolio SEATTLE, WA 99,22199.2k $21.5m $21.5m 1.66% Reduced -20.5k -20,475
50 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 94,73494.7k $20.5m $20.5m 0.02% New
51 Clearbridge Investments, LLC 0.02% of their portfolio NEW YORK, NY 94,39094.4k $20.5m $20.5m 0.02% Added +93.0k +93,023
52 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 94,00494.0k $20.4m $20.4m 0.01% Reduced -72.1k -72,119
53 Driehaus Capital Management LLC 0.25% of their portfolio Chicago, IL 90,45090.5k $19.6m $19.6m 0.25% Added +3.0k +3,028
54 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 84,31684.3k $18.3m $18.3m 0.01% Added +55.7k +55,707
55 HRT FINANCIAL LP 0.17% of their portfolio NEW YORK, NY 80,84880.8k $17.5m $17.5m 0.17% New
56 SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC 0.89% of their portfolio Boston, MA 80,48180.5k $17.5m $17.5m 0.89% Added +28.4k +28,381
57 Cormorant Asset Management, LP 0.99% of their portfolio BOSTON, MA 80,00080.0k $17.3m $17.3m 0.99% Unchanged
58 SAMLYN CAPITAL, LLC 0.29% of their portfolio New York, NY 78,25978.3k $17.0m $17.0m 0.29% New
59 FIL Ltd 0.02% of their portfolio HAMILTON, D0 68,14168.1k $14.8m $14.8m 0.02% Reduced -34.7k -34,692
60 Candriam S.C.A. 0.11% of their portfolio STRASSEN, N4 67,20167.2k $14.6m $14.6m 0.11% Unchanged
61 Swiss National Bank 0.01% of their portfolio ZURICH, V8 65,10065.1k $14.1m $14.1m 0.01% Added +5.7k +5,700
62 Atika Capital Management LLC 1.77% of their portfolio NEW YORK, NY 65,00065.0k $14.1m $14.1m 1.77% Added +22.7k +22,725
63 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 63,76463.8k $13.8m $13.8m 0.00% Reduced -2.7k -2,733
64 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 61,74361.7k $13.4m $13.4m 0.00% Added +9.1k +9,086
65 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 59,93759.9k $13.0m $13.0m 0.02% New
66 California Public Employees Retirement System 0.01% of their portfolio Sacramento, CA 58,87358.9k $12.8m $12.8m 0.01% Added +4.4k +4,419
67 Tekla Capital Management LLC 0.50% of their portfolio Boston, MA 58,57758.6k $12.7m $12.7m 0.50% Added +5.1k +5,125
68 Corient Private Wealth LP 0.03% of their portfolio MIAMI, FL 55,89255.9k $12.1m $12.1m 0.03% Added +702 +702
69 MPM BIOIMPACT LLC 2.33% of their portfolio BOSTON, MA 53,39953.4k $11.6m $11.6m 2.33% New
70 Nationale-Nederlanden Powszechne Towarzystwo Emerytalne S.A. 3.17% of their portfolio WARSZAWA, R9 50,39150.4k $10.9m $10.9m 3.17% Added +3.0k +3,015
71 Woodline Partners LP 0.13% of their portfolio San Francisco, CA 50,10050.1k $10.9m $10.9m 0.13% New
72 Parkman Healthcare Partners LLC 1.85% of their portfolio STAMFORD, CT 49,23349.2k $10.7m $10.7m 1.85% Added +9.9k +9,926
73 RHUMBLINE ADVISERS 0.01% of their portfolio BOSTON, MA 47,11347.1k $10.2m $10.2m 0.01% Added +3.2k +3,155
74 Point72 Asset Management, L.P. 0.03% of their portfolio STAMFORD, CT 45,94045.9k $10.0m $10.0m 0.03% Reduced -517.6k -517,558
75 JENNISON ASSOCIATES LLC 0.01% of their portfolio NEW YORK, NY 45,79045.8k $9.9m $9.9m 0.01% New
76 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 45,02345.0k $9.8m $9.8m 0.01% Reduced -36.2k -36,246
77 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 44,30244.3k $9.6m $9.6m 0.01% Reduced -27.9k -27,884
78 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 43,70643.7k $9.5m $9.5m 0.01% Reduced -5.5k -5,479
79 DAFNA Capital Management LLC 2.50% of their portfolio LOS ANGELES, CA 42,17342.2k $9.1m $9.1m 2.50% Reduced -36.4k -36,400
80 Connor, Clark & Lunn Investment Management Ltd. 0.05% of their portfolio VANCOUVER, A1 41,91141.9k $9.1m $9.1m 0.05% Added +2.2k +2,171
81 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio TALLAHASSEE, FL 40,99341.0k $8.9m $8.9m 0.02% Added +32.5k +32,550
82 HUNTINGTON NATIONAL BANK 0.08% of their portfolio COLUMBUS, OH 38,36938.4k $8.3m $8.3m 0.08% Added +18 +18
83 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio WEST SACRAMENTO, CA 38,24338.2k $8.3m $8.3m 0.01% Added +2.0k +2,034
84 Rafferty Asset Management, LLC 0.04% of their portfolio New York, NY 36,47736.5k $7.9m $7.9m 0.04% Reduced -1.5k -1,478
85 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 36,06936.1k $7.8m $7.8m 0.00% Reduced -3.7k -3,720
86 AXA S.A. 0.03% of their portfolio PARIS, I0 35,54135.5k $7.7m $7.7m 0.03% Added +16.9k +16,913
87 Rhenman & Partners Asset Management AB 0.80% of their portfolio Stockholm, V7 35,00035.0k $7.6m $7.6m 0.80% Reduced -2.0k -2,000
88 Logos Global Management LP 1.05% of their portfolio San Francisco, CA 35,00035.0k $7.6m $7.6m 1.05% Reduced -65.0k -65,000
89 Capital Group Private Client Services, Inc. 0.08% of their portfolio Los Angeles, CA 32,80132.8k $7.1m $7.1m 0.08% Added +64 +64
90 Legal & General Group Plc 0.00% of their portfolio London, X0 32,19432.2k $7.0m $7.0m 0.00% Added +1.2k +1,154
91 CREDIT SUISSE AG/ 0.01% of their portfolio ZURICH, V8 31,66731.7k $6.9m $6.9m 0.01% Added +7.0k +6,997
92 Ergoteles LLC 0.31% of their portfolio NEW YORK, NY 29,47629.5k $6.4m $6.4m 0.31% Added +24.8k +24,781
93 STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio MADISON, WI 28,95329.0k $6.3m $6.3m 0.02% Added +3.6k +3,599
94 EMERALD ADVISERS, LLC 0.26% of their portfolio LEOLA, PA 27,65627.7k $6.0m $6.0m 0.26% Reduced -49.5k -49,514
95 Pentwater Capital Management LP 0.07% of their portfolio Naples, FL 27,00027.0k $5.9m $5.9m 0.07% Reduced -21.0k -21,000
96 SECTORAL ASSET MANAGEMENT INC 0.93% of their portfolio MONTREAL, A8 25,73225.7k $5.6m $5.6m 0.93% Reduced -1.1k -1,148
97 FRED ALGER MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 25,71225.7k $5.6m $5.6m 0.03% Reduced -656 -656
98 INTERNATIONAL BIOTECHNOLOGY TRUST PLC 1.69% of their portfolio London, X0 25,70025.7k $5.6m $5.6m 1.69% Added +14.7k +14,700
99 CASTLEARK MANAGEMENT LLC 0.24% of their portfolio CHICAGO, IL 24,70624.7k $5.4m $5.4m 0.24% Reduced -230 -230
100 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 24,69524.7k $5.4m $5.4m 0.01% New