Vault-13

NEKTAR THERAPEUTICS

COM · CUSIP 640268108

8 institutional holders -150 vs Q1 2025
10,18010.2k shares reported held*
$149.3kreported value*
2 new 0 added 4 reduced 151 sold out net sold ≈ $3.2bn (-124.0m 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. Holder counts are more reliable. Implied quarter-end price ≈ $14.67.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 231Q4 22: 218Q1 23: 197Q2 23: 149Q3 23: 140Q4 23: 129Q1 24: 124Q2 24: 136Q3 24: 141Q4 24: 147Q1 25: 158Q2 25: 88Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022231
Q4 2022218
Q1 2023197
Q2 2023149
Q3 2023140
Q4 2023129
Q1 2024124
Q2 2024136
Q3 2024141
Q4 2024147
Q1 2025158
Q2 20258

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 47 bought or addedQ3 23: 71 cut or sold outQ4 23: 42 bought or addedQ4 23: 72 cut or sold outQ4 23Q1 24: 36 bought or addedQ1 24: 69 cut or sold outQ2 24: 71 bought or addedQ2 24: 58 cut or sold outQ2 24Q3 24: 58 bought or addedQ3 24: 52 cut or sold outQ4 24: 61 bought or addedQ4 24: 53 cut or sold outQ4 24Q1 25: 70 bought or addedQ1 25: 63 cut or sold outQ2 25: 2 bought or addedQ2 25: 155 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20234771
Q4 20234272
Q1 20243669
Q2 20247158
Q3 20245852
Q4 20246153
Q1 20257063
Q2 20252155

Calls vs puts

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

CallsPuts
$0$250k$500k$750k$1mQ3 24 calls: $182.5kQ3 24 puts: $23.5kQ3 24P/C 0.13Q4 24 calls: $218.0kQ4 24 puts: $4.6kQ4 24P/C 0.02Q1 25 calls: $885.4kQ1 25 puts: $123.4kQ1 25P/C 0.14Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —
Numbers
QuarterCallsPutsP/C
Q3 2024$182.5k$23.5k0.13
Q4 2024$218.0k$4.6k0.02
Q1 2025$885.4k$123.4k0.14
Q2 2025$0$0—

Biggest buyers

IFP Advisors, Inc New +4,516+4.5k
Rise Advisors, LLC New +49+49

Biggest sellers

BlackRock, Inc. Sold out -15,707,325-15.7m
VANGUARD GROUP INC Sold out -12,309,688-12.3m
Nantahala Capital Management, LLC Sold out -7,789,051-7.8m
ACADIAN ASSET MANAGEMENT LLC Sold out -7,301,734-7.3m
EVENTIDE ASSET MANAGEMENT, LLC Sold out -6,650,000-6.7m
PRIMECAP MANAGEMENT CO/CA/ Sold out -5,354,586-5.4m
RENAISSANCE TECHNOLOGIES LLC Sold out -4,701,781-4.7m
Almitas Capital LLC Sold out -4,610,872-4.6m
GEODE CAPITAL MANAGEMENT, LLC Sold out -4,009,124-4.0m
TCG Crossover Management, LLC Sold out -4,000,000-4.0m

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
BlackRock, Inc. 13G · institution filed 2025-04-17 6.7% 12.5m 2025-04-17

Fell to 5% or below in the last year: TCG Crossover GP II, LLC (0.0%, 2025-11-14)

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 4,5164.5k $3.0k $3.0k 0.00% New
2 Essential Partners LLC 0.04% of their portfolio RANCHO SANTA FE, CA 3,7323.7k $96.4k $96.4k 0.04% First filing
3 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 1,0531.1k $27.2k $27.2k 0.00% Reduced -14.8k -14,767
4 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 810810 $20.9k $20.9k 0.00% Reduced -581 -581
5 Rise Advisors, LLC 0.00% of their portfolio ROCHESTER, NY 4949 $1.3k $1.3k 0.00% New
6 AllSquare Wealth Management LLC 0.00% of their portfolio ALBANY, NY 1818 $465 $465 0.00% Reduced -259 -259
7 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 11 $1 $1 0.00% Unchanged
8 LRI Investments, LLC 0.00% of their portfolio PALM BEACH GARDENS, FL 11 $26 $26 0.00% Reduced -15 -15