NOVAVAX INC NVAX
COM NEW · Common Stock · CUSIP 670002401 · ISIN US6700024010
Company in Gaithersburg, Maryland
- SectorHealth care
- IndustryBiological Products, (No Diagnostic Substances)
- HeadquartersGaithersburg, MD
- Founded1987
- Websitees.novavax.com
- 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 ($413.8k this quarter). Holder counts are more reliable. Shares outstanding: 164.9m as of 2026-07-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $9.42. Options: 19 managers hold calls ($56.0m notional), 18 hold puts ($67.7m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 255 |
| Q4 2022 | 252 |
| Q1 2023 | 224 |
| Q2 2023 | 216 |
| Q3 2023 | 227 |
| Q4 2023 | 200 |
| Q1 2024 | 203 |
| Q2 2024 | 231 |
| Q3 2024 | 238 |
| Q4 2024 | 234 |
| Q1 2025 | 247 |
| Q2 2025 | 253 |
| Q3 2025 | 249 |
| Q4 2025 | 236 |
| Q1 2026 | 259 |
| Q2 2026 | 267 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 106 | 96 |
| Q4 2024 | 102 | 95 |
| Q1 2025 | 115 | 101 |
| Q2 2025 | 128 | 95 |
| Q3 2025 | 117 | 122 |
| Q4 2025 | 98 | 120 |
| Q1 2026 | 120 | 99 |
| Q2 2026 | 117 | 119 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $77.3m | $100.7m | 1.30 |
| Q4 2025 | $46.0m | $67.8m | 1.47 |
| Q1 2026 | $42.9m | $52.4m | 1.22 |
| Q2 2026 | $56.0m | $67.7m | 1.21 |
Biggest buyers
| TWO SIGMA INVESTMENTS, LP | Added | +3.5m |
| STATE STREET CORP | Added | +2.8m |
| GOLDMAN SACHS GROUP INC | Added | +1.6m |
| TSP Capital Management Group, LLC | New | +1.4m |
| BlackRock, Inc. | Added | +1.1m |
| JUPITER ASSET MANAGEMENT LTD | New | +1.1m |
| AQR CAPITAL MANAGEMENT LLC | Added | +790.6k |
| FEDERATED HERMES, INC. | Added | +698.3k |
| CITADEL ADVISORS LLC | Added | +571.6k |
| CITIGROUP INC | Added | +472.3k |
Biggest sellers
| BANK OF AMERICA CORP /DE/ | Reduced | -3.2m |
| UBS Group AG | Reduced | -2.6m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -2.1m |
| D. E. Shaw & Co., Inc. | Reduced | -2.1m |
| TSP Capital Management Group, LLC | Sold out | -1.4m |
| BARCLAYS PLC | Reduced | -1.1m |
| Point72 Asset Management, L.P. | Reduced | -853.9k |
| SHAH CAPITAL MANAGEMENT | Reduced | -679.5k |
| Jefferies Financial Group Inc. | Sold out | -673.1k |
| MARSHALL WACE, LLP | Reduced | -513.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $18.6m2.0m shares |
| IMC-Chicago, LLC | Added | $4.8m506.8k shares |
| CITADEL ADVISORS LLC | Added | $4.5m479.7k shares |
| CITIGROUP INC | Unchanged | $4.4m471.7k shares |
| TUDOR INVESTMENT CORP ET AL | New | $4.1m436.9k shares |
| GROUP ONE TRADING LLC | Added | $3.6m381.4k shares |
| UBS Group AG | New | $3.5m371.5k shares |
| JANE STREET GROUP, LLC | Reduced | $2.7m286.7k shares |
| D. E. Shaw & Co., Inc. | Reduced | $2.2m231.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.8m195.3k shares |
Biggest puts
| Graham Capital Management, L.P. | Unchanged | $19.7m2.1m shares |
| CITADEL ADVISORS LLC | Added | $15.4m1.6m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $8.6m913.4k shares |
| GROUP ONE TRADING LLC | Added | $7.2m762.5k shares |
| SIMPLEX TRADING, LLC | Added | $2.7m285.1k shares |
| IMC-Chicago, LLC | Added | $2.4m256.0k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Reduced | $1.9m196.8k shares |
| GOLDMAN SACHS GROUP INC | Unchanged | $1.8m187.4k shares |
| Walleye Trading LLC | Added | $1.8m187.3k shares |
| D. E. Shaw & Co., Inc. | Unchanged | $1.4m150.0k 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 |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-02-05 | 8.4% |
| STATE STREET CORP 13G · institution +1.2 pts · filed 2026-08-07 | 7.1% |
| SHAH CAPITAL MANAGEMENT 13G · passive investor no change · filed 2026-10-16 | 6.5% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.1% |
Fell to 5% or below in the last year: BANK OF AMERICA CORP /DE/ (4.1%, 2026-04-27), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales since 1 Apr 2026
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.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 2 | $119.6k | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| SHAH CAPITAL MANAGEMENT 25.36% of their portfolio | 14.2m $133.4m | Reduced -679.5k |
| BlackRock, Inc. 0.00% of their portfolio | 13.9m $131.4m | Added +1.1m |
| STATE STREET CORP 0.00% of their portfolio | 11.7m $110.6m | Added +2.8m |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 7.6m $71.7m | Added +456.4k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 7.3m $68.4m | Added +127.3k |
| Sanofi 12.14% of their portfolio | 6.9m $64.8m | Unchanged |
| D. E. Shaw & Co., Inc. 0.03% of their portfolio | 5.7m $53.2m | Reduced -2.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 4.2m $39.6m | Added +309.0k |
| TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio | 4.1m $38.5m | Added +3.5m |
| COATUE MANAGEMENT LLC 0.07% of their portfolio | 3.8m $36.1m | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 3.4m $32.2m | Reduced -3.2m |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 3.0m $28.3m | Added +1.6m |
| UBS Group AG 0.00% of their portfolio | 1.9m $17.6m | Reduced -2.6m |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 1.8m $16.7m | Reduced -2.1m |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 1.7m $16.0m | Added +571.6k |
| Allianz Asset Management GmbH 0.02% of their portfolio | 1.6m $14.9m | Reduced -280.7k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.4m $13.6m | Reduced -61.2k |
| TSP Capital Management Group, LLC 3.20% of their portfolio | 1.4m $13.4m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.3m $12.7m | Reduced -26.9k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 1.1m $10.2m | Reduced -22.1k |
| JUPITER ASSET MANAGEMENT LTD 0.05% of their portfolio | 1.1m $10.1m | New |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 902.6k $8.5m | Added +790.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 849.7k $8.0m | Added +68.9k |
| FEDERATED HERMES, INC. 0.01% of their portfolio | 703.0k $6.6m | Added +698.3k |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 664.3k $6.3m | Reduced -853.9k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 652.8k $6.1m | Reduced -513.4k |
| FMR LLC 0.00% of their portfolio | 608.9k $5.7m | Added +108.1k |
| Monaco Asset Management SAM 2.02% of their portfolio | 577.5k $5.4m | Reduced -120.1k |
| Edgestream Partners, L.P. 0.16% of their portfolio | 559.8k $5.3m | Added +39.7k |
| CITIGROUP INC 0.00% of their portfolio | 513.2k $4.8m | Added +472.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 506.1k $4.8m | Reduced -328.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 501.8k $4.7m | Added +4.4k |
| MORGAN STANLEY 0.00% of their portfolio | 466.5k $4.4m | Reduced -105.6k |
| Trexquant Investment LP 0.03% of their portfolio | 461.7k $4.3m | New |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 396.7k $3.7m | Added +384.9k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 385.7k $3.6m | Reduced -23.6k |
| Nuveen, LLC 0.00% of their portfolio | 346.4k $3.3m | Added +22.9k |
| GROUP ONE TRADING LLC 0.08% of their portfolio | 283.8k $2.7m | Reduced -58.2k |
| ALGERT GLOBAL LLC 0.03% of their portfolio | 278.0k $2.6m | New |
| Swiss National Bank 0.00% of their portfolio | 277.9k $2.6m | Added +5.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 242.2k $2.3m | Reduced -19.0k |
| Quantinno Capital Management LP 0.00% of their portfolio | 236.9k $2.2m | Added +201.6k |
| Invesco Ltd. 0.00% of their portfolio | 236.0k $2.2m | Reduced -28.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 229.2k $2.2m | Added +48.7k |
| Rafferty Asset Management, LLC 0.00% of their portfolio | 208.7k $2.0m | Reduced -39.7k |
| Jump Financial, LLC 0.02% of their portfolio | 204.8k $1.9m | Added +183.5k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 204.7k $1.9m | Added +15.1k |
| Schonfeld Strategic Advisors LLC 0.01% of their portfolio | 194.6k $1.8m | Added +104.7k |
| Headlands Technologies LLC 0.19% of their portfolio | 190.5k $1.8m | Added +872 |
| XTX Topco Ltd 0.02% of their portfolio | 167.2k $1.6m | New |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio | 161.2k $1.5m | Reduced -3.4k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 160.6k $1.3m | Reduced -2.6k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 158.1k $1.5m | Added +28.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 156.9k $1.5m | Reduced -29.7k |
| Aquatic Capital Management LLC 0.05% of their portfolio | 153.7k $1.4m | Added +98.5k |
| BARCLAYS PLC 0.00% of their portfolio | 141.0k $1.3m | Reduced -1.1m |
| Legal & General Group Plc 0.00% of their portfolio | 139.8k $1.3m | Added +13.9k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 135.8k $1.3m | Added +67.9k |
| Squarepoint Ops LLC 0.00% of their portfolio | 133.6k $1.3m | New |
| Virtus Investment Advisers, LLC 0.29% of their portfolio | 131.0k $1.2m | Added +2.5k |
| TUDOR INVESTMENT CORP ET AL 0.00% of their portfolio | 125.5k $1.2m | Reduced -3.4k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 117.0k $1.1m | Added +25.4k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 111.7k $1.1m | Added +3.0k |
| PROFUND ADVISORS LLC 0.03% of their portfolio | 104.7k $986.1k | Reduced -6.3k |
| IEQ CAPITAL, LLC 0.00% of their portfolio | 101.4k $954.8k | New |
| NewEdge Wealth, LLC 0.01% of their portfolio | 100.6k $947.3k | Reduced -29.4k |
| OPPENHEIMER & CO INC 0.01% of their portfolio | 94.8k $892.6k | Reduced -10.4k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 94.5k $888.4k | Added +6.6k |
| Palumbo Wealth Management LLC 0.18% of their portfolio | 92.9k $875.6k | Added +836 |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 90.3k $850.2k | Added +38.1k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 89.0k $838.8k | Added +9.8k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 88.4k $833.0k | Unchanged |
| MARTINGALE ASSET MANAGEMENT L P 0.02% of their portfolio | 85.6k $806.1k | Reduced -9.1k |
| Creative Planning 0.00% of their portfolio | 84.6k $796.7k | Added +17.4k |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 82.2k $774.7k | New |
| Ares Systematic Credit Ltd 0.46% of their portfolio | 80.2k $755.1k | Reduced -9.4k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.00% of their portfolio | 78.5k $739.1k | Added +16.8k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 76.5k $715.9k | Added +1.3k |
| Walleye Trading LLC 0.01% of their portfolio | 76.2k $717.7k | Added +36.0k |
| Brevan Howard Capital Management LP 0.01% of their portfolio | 69.8k $657.7k | Added +17.2k |
| AXQ CAPITAL, LP 0.07% of their portfolio | 68.5k $645.1k | Added +12.5k |
| SG Americas Securities, LLC 0.00% of their portfolio | 66.8k $630.0k | Reduced -74.2k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 65.2k $614.2k | Reduced -1.3k |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 63.9k $602.3k | Unchanged |
| OP Asset Management Ltd 0.01% of their portfolio | 63.4k $597.2k | New |
| Mariner, LLC 0.00% of their portfolio | 63.4k $596.9k | New |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 61.7k $581.4k | Reduced -138.5k |
| Jupiter Topco LLC 0.00% of their portfolio | 60.8k $572.6k | First filing |
| Vontobel Holding Ltd. 0.00% of their portfolio | 59.9k $563.9k | Reduced -4.3k |
| STRS OHIO 0.00% of their portfolio | 58.1k $547.3k | Reduced -16.5k |
| Thrivent Financial for Lutherans 0.00% of their portfolio | 57.6k $542.0k | Reduced -5.1k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 57.1k $538.2k | Reduced -2.8k |
| NOMURA HOLDINGS INC 0.00% of their portfolio | 55.7k $524.5k | Reduced -35.2k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 55.1k $518.6k | Reduced -695 |
| Cerity Partners LLC 0.00% of their portfolio | 54.0k $509.1k | New |
| Quadrature Capital Ltd 0.00% of their portfolio | 53.9k $507.7k | New |
| LPL Financial LLC 0.00% of their portfolio | 49.9k $469.8k | Added +2.1k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 49.5k $465.9k | Added +1.5k |
| ALPS ADVISORS INC 0.00% of their portfolio | 49.0k $461.5k | Reduced -132.0k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 48.0k $452.0k | Unchanged |