Vault-13

ORCHESTRA BIOMED HLDGS INC OBIO

COM · Common Stock · CUSIP 68572M106

77 institutional holders +12 vs Q1 2026
27,471,01527.5m shares reported held*
$118.5mreported value*
25 new 22 added 15 reduced 13 sold out net bought ≈ $19.8m (+4.6m 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 ($958.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $4.31. Options: 2 managers hold calls ($56.1k notional), 4 hold puts ($131.6k).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

050100Q4 22: 1Q1 23: 22Q2 23: 40Q3 23: 43Q4 23: 40Q1 24: 44Q2 24: 48Q3 24: 49Q4 24: 55Q1 25: 57Q2 25: 60Q3 25: 52Q4 25: 63Q1 26: 65Q2 26: 7777Q4 22Q4 23Q4 24Q4 25Q2 26
Numbers
QuarterHolders
Q4 20221
Q1 202322
Q2 202340
Q3 202343
Q4 202340
Q1 202444
Q2 202448
Q3 202449
Q4 202455
Q1 202557
Q2 202560
Q3 202552
Q4 202563
Q1 202665
Q2 202677

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q3 24: 25 bought or addedQ3 24: 15 cut or sold outQ4 24: 31 bought or addedQ4 24: 11 cut or sold outQ4 24Q1 25: 22 bought or addedQ1 25: 21 cut or sold outQ2 25: 35 bought or addedQ2 25: 35 cut or sold outQ2 25Q3 25: 26 bought or addedQ3 25: 34 cut or sold outQ4 25: 36 bought or addedQ4 25: 19 cut or sold outQ4 25Q1 26: 39 bought or addedQ1 26: 30 cut or sold outQ2 26: 47 bought or addedQ2 26: 28 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20242515
Q4 20243111
Q1 20252221
Q2 20253535
Q3 20252634
Q4 20253619
Q1 20263930
Q2 20264728

Calls vs puts

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

CallsPuts
$0$100k$200k$300k$400kQ3 25 calls: $26.8kQ3 25 puts: $149.0kQ3 25P/C 5.56Q4 25 calls: $329.1kQ4 25 puts: $75.9kQ4 25P/C 0.23Q1 26 calls: $68.0kQ1 26 puts: $11.1kQ1 26P/C 0.16Q2 26 calls: $56.1kQ2 26 puts: $131.6kQ2 26P/C 2.35
Numbers
QuarterCallsPutsP/C
Q3 2025$26.8k$149.0k5.56
Q4 2025$329.1k$75.9k0.23
Q1 2026$68.0k$11.1k0.16
Q2 2026$56.1k$131.6k2.35

Biggest buyers

BlackRock, Inc. Added +1,874,673+1.9m
RTW INVESTMENTS, LP Added +1,250,000+1.2m
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC New +642,154+642.2k
GEODE CAPITAL MANAGEMENT, LLC Added +522,416+522.4k
RICE HALL JAMES & ASSOCIATES, LLC Added +404,999+405.0k
STATE STREET CORP Added +346,640+346.6k
UBS Group AG Added +275,463+275.5k
VANGUARD PORTFOLIO MANAGEMENT LLC New +274,973+275.0k
Flat Footed LLC New +251,372+251.4k
NORTHERN TRUST CORP Added +225,366+225.4k

Biggest sellers

MILLENNIUM MANAGEMENT LLC Sold out -702,543-702.5k
Affinity Asset Advisors, LLC Reduced -369,150-369.1k
MARSHALL WACE, LLP Sold out -188,484-188.5k
683 Capital Management, LLC Sold out -185,000-185.0k
VANGUARD CAPITAL MANAGEMENT LLC Reduced -181,403-181.4k
Qube Research & Technologies Ltd Sold out -108,953-109.0k
Point72 Asset Management, L.P. Sold out -87,888-87.9k
Hudson Bay Capital Management LP Sold out -71,134-71.1k
BARCLAYS PLC Reduced -45,824-45.8k
JANE STREET GROUP, LLC Reduced -40,320-40.3k

Biggest calls

CITADEL ADVISORS LLC New $52.2k12.1k shares
GROUP ONE TRADING LLC Added $3.9k900 shares

Biggest puts

CITADEL ADVISORS LLC New $75.9k17.6k shares
JANE STREET GROUP, LLC New $49.2k11.4k shares
SIMPLEX TRADING, LLC Reduced $6.0k1.4k shares
GROUP ONE TRADING LLC Unchanged $432100 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.

HolderStakeChangeShares Last filed
RTW INVESTMENTS, LP 13D · may seek influence -0.5 pts · filed 2026-04-29 19.2% -0.5 pts 11.9m≈ $51.5m 2026-04-29
Medtronic plc 13G · passive investor +2.4 pts · filed 2026-02-27 17.8% +2.4 pts 10.1m≈ $43.5m 2026-02-27
PERCEPTIVE ADVISORS LLC 13G · passive investor filed 2025-11-14 10.0% 5.7m≈ $24.5m 2025-11-14
Tasso Partners, LLC 13G · passive investor new · filed 2025-11-19 5.5% new 3.1m≈ $13.4m 2025-11-19

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)

BuyingSelling
505Q4 24: 2 buyingQ4 24: 0 sellingQ1 25: 0 buyingQ1 25: 0 sellingQ1 25Q2 25: 0 buyingQ2 25: 1 sellingQ3 25: 5 buyingQ3 25: 0 sellingQ3 25Q4 25: 1 buyingQ4 25: 0 sellingQ1 26: 1 buyingQ1 26: 0 sellingQ1 26Q2 26: 3 buyingQ2 26: 1 sellingQ3 26: 2 buyingQ3 26: 1 sellingQ3 26
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20242$48.0k0——
Q1 20250—0——
Q2 20250—1$8.2k—
Q3 20255$100.4k0——
Q4 20251$20.4k0——
Q1 20261$42.9k0——
Q2 20263$158.1k1$58.0k$58.0k
Q3 20262$58.6k1$199.5k$199.5k
DateInsiderTradeSharesPrice ValueTheir holding
2026-09-03 Hochman David P Officer, director Bought 10,000 $4.79 $47.9k10.0k shares +1%
2026-09-01 Sherman Darren Officer, director Sold plan 15,000 $4.94 $74.1k15.0k shares -1%
2026-08-26 Sherman Darren Officer, director Bought 2,000 $5.33 $10.7k2.0k shares new
2026-08-03 Sherman Darren Officer, director Sold plan 15,000 $4.09 $61.4k15.0k shares -1%
2026-07-01 Sherman Darren Officer, director Sold plan 15,000 $4.27 $64.0k15.0k shares -1%
2026-06-01 Sherman Darren Officer, director Sold plan 15,000 $3.87 $58.0k15.0k shares -1%
2026-06-01 Hochman David P Officer, director Bought 5,000 $3.83 $19.1k5.0k shares +0%
2026-05-18 Aryeh Jason Director Bought 665 $3.75 $2.5k665 shares +1%
2026-05-15 Aryeh Jason Director Bought 8,971 $3.90 $35.0k9.0k shares +8%
2026-05-15 Hochman David P Officer, director Bought 5,000 $3.77 $18.9k5.0k shares +0%
2026-05-14 Fain Eric S Director · By the Fain Living Trust Bought 20,000 $4.13 $82.6k20.0k shares +28%
2026-04-27 RTW INVESTMENTS, LP +1 10% owner · See footnote Sold 32 $4.13 $13232 shares -<1%

Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 RTW INVESTMENTS, LP 0.35% of their portfolio NEW YORK, NY 9,556,0639.6m $41.2m $41.2m 0.35% Added +1.2m +1,250,000
2 PERCEPTIVE ADVISORS LLC 0.34% of their portfolio NEW YORK, NY 5,037,9065.0m $21.7m $21.7m 0.34% Unchanged
3 BlackRock, Inc. 0.00% of their portfolio New York, NY 2,510,3872.5m $10.8m $10.8m 0.00% Added +1.9m +1,874,673
4 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 2,022,9162.0m $8.7m $8.7m 0.00% Reduced -181.4k -181,403
5 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 1,007,9081.0m $4.4m $4.4m 0.00% Added +522.4k +522,416
6 Alyeska Investment Group, L.P. 0.01% of their portfolio CHICAGO, IL 1,000,0001.0m $4.3m $4.3m 0.01% Unchanged
7 Propel Bio Management, LLC 2.02% of their portfolio Los Angeles, CA 896,701896.7k $3.9m $3.9m 2.02% Unchanged
8 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 642,154642.2k $2.8m $2.8m 0.00% New
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 516,050516.0k $2.2m $2.2m 0.00% Added +346.6k +346,640
10 RICE HALL JAMES & ASSOCIATES, LLC 0.09% of their portfolio San Diego, CA 424,000424.0k $1.8m $1.8m 0.09% Added +405.0k +404,999
11 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 349,544349.5k $1.5m $1.5m 0.00% Added +84.0k +84,045
12 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 343,640343.6k $1.5m $1.5m 0.00% Added +225.4k +225,366
13 UBS Group AG 0.00% of their portfolio ZURICH, V8 325,773325.8k $1.4m $1.4m 0.00% Added +275.5k +275,463
14 VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio MALVERN, PA 292,253292.3k $1.3m $1.3m 0.00% Added +57.0k +57,039
15 VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 274,973275.0k $1.2m $1.2m 0.00% New
16 Knott David M Jr 0.58% of their portfolio SYOSSET, NY 253,651253.7k $1.1m $1.1m 0.58% Unchanged
17 Flat Footed LLC 0.19% of their portfolio WILSON, WY 251,372251.4k $1.1m $1.1m 0.19% New
18 Simplify Asset Management Inc. 0.01% of their portfolio Las Vegas, NV 219,387219.4k $946.7k $946.7k 0.01% Unchanged
19 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 179,606179.6k $775.0k $775.0k 0.00% Added +24.4k +24,364
20 DAFNA Capital Management LLC 0.10% of their portfolio LOS ANGELES, CA 126,841126.8k $547.3k $547.3k 0.10% Unchanged
21 Daytona Street Capital LLC 0.28% of their portfolio SAINT LOUIS, MO 96,39896.4k $379.3k $379.3k 0.28% Added +43.8k +43,798
22 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 90,00090.0k $388.4k $388.4k 0.00% Added +19.1k +19,100
23 IFP Advisors, Inc 0.01% of their portfolio TAMPA, FL 89,60889.6k $386.7k $386.7k 0.01% Reduced -9.3k -9,279
24 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 86,10386.1k $371.5k $371.5k 0.00% New
25 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.01% of their portfolio HOUSTON, TX 80,60080.6k $347.8k $347.8k 0.01% Added +10.0k +10,000
26 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 65,80465.8k $283.9k $283.9k 0.00% Reduced -31.7k -31,717
27 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 56,19156.2k $242.5k $242.5k 0.00% Reduced -23.0k -22,994
28 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 52,11852.1k $224.9k $224.9k 0.00% New
29 Holos Integrated Wealth LLC 0.10% of their portfolio KENNETT SQUARE, PA 51,59551.6k $204.3k $204.3k 0.10% Unchanged
30 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 44,08344.1k $190.2k $190.2k 0.00% Unchanged
31 Y-Intercept (Hong Kong) Ltd 0.00% of their portfolio HONG KONG, K3 43,48643.5k $187.6k $187.6k 0.00% New
32 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 39,67239.7k $171.4k $171.4k 0.00% New
33 XTX Topco Ltd 0.00% of their portfolio LONDON, X0 38,81438.8k $167.5k $167.5k 0.00% New
34 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 36,35636.4k $156.9k $156.9k 0.00% New
35 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 35,37535.4k $152.6k $152.6k 0.00% Added +17.1k +17,100
36 Affinity Asset Advisors, LLC 0.01% of their portfolio NEW YORK, NY 33,40033.4k $144.1k $144.1k 0.01% Reduced -369.1k -369,150
37 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 32,68932.7k $142.0k $142.0k 0.00% New
38 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 31,94031.9k $137.8k $137.8k 0.00% New
39 Meramec Financial Planners, LLC 0.04% of their portfolio SAINT LOUIS, MO 30,00030.0k $114.6k $114.6k 0.04% Unchanged
40 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 29,16029.2k $125.8k $125.8k 0.00% Reduced -6.5k -6,479
41 ALGERT GLOBAL LLC 0.00% of their portfolio SAN FRANCISCO, CA 28,48628.5k $122.9k $122.9k 0.00% Added +13.8k +13,830
42 AXQ CAPITAL, LP 0.01% of their portfolio JERSEY CITY, NJ 25,44825.4k $109.8k $109.8k 0.01% New
43 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 24,68924.7k $106.5k $106.5k 0.00% New
44 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 23,99424.0k $103.5k $103.5k 0.00% New
45 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 23,82223.8k $102.8k $102.8k 0.00% Reduced -28.9k -28,939
46 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 22,56322.6k $97.4k $97.4k 0.00% Reduced -37.5k -37,544
47 CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio TORONTO ONTARIO, A6 21,10021.1k $91.0k $91.0k 0.00% Added +9.8k +9,800
48 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 20,88020.9k $99.2k $99.2k 0.00% Added +16.6k +16,622
49 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 20,40020.4k $88.0k $88.0k 0.00% New
50 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 20,16520.2k $87.0k $87.0k 0.00% Reduced -5.4k -5,364
51 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 18,35218.4k $79.2k $79.2k 0.00% New
52 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 15,36015.4k $66.3k $66.3k 0.00% Reduced -40.3k -40,320
53 Vanguard Global Advisers, LLC 0.00% of their portfolio MALVERN, PA 13,94813.9k $60.2k $60.2k 0.00% Unchanged
54 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 13,51813.5k $58.3k $58.3k 0.00% Reduced -45.8k -45,824
55 ABLE Financial Group, LLC 0.01% of their portfolio SCOTTSDALE, AZ 13,40213.4k $57.8k $57.8k 0.01% Unchanged
56 Sargent Investment Group, LLC 0.01% of their portfolio BETHESDA, MD 13,12013.1k $56.6k $56.6k 0.01% New
57 Frec Markets, Inc. 0.01% of their portfolio SAN FRANCISCO, CA 13,04813.0k $56.3k $56.3k 0.01% Unchanged
58 Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio TRENTON, NJ 11,75511.8k $50.7k $50.7k 0.00% New
59 Garden State Investment Advisory Services LLC 0.01% of their portfolio Red Bank, NJ 10,56210.6k $45.6k $45.6k 0.01% Unchanged
60 China Universal Asset Management Co., Ltd. 0.00% of their portfolio SHANGHAI, F4 9,5309.5k $41.1k $41.1k 0.00% Reduced -490 -490
61 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 8,2148.2k $35.4k $35.4k 0.00% Added +6.8k +6,758
62 Legal & General Group Plc 0.00% of their portfolio London, X0 3,9243.9k $16.9k $16.9k 0.00% New
63 Ameritas Investment Partners, Inc. 0.00% of their portfolio LINCOLN, NE 3,6173.6k $15.6k $15.6k 0.00% New
64 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 3,6013.6k $15.5k $15.5k 0.00% Added +3.1k +3,054
65 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 3,1873.2k $13.8k $13.8k 0.00% New
66 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 2,6782.7k $11.6k $11.6k 0.00% Reduced -267 -267
67 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 2,5642.6k $11.1k $11.1k 0.00% Added +183 +183
68 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,8641.9k $8.0k $8.0k 0.00% Added +928 +928
69 AdvisorNet Financial, Inc 0.00% of their portfolio MINNETONKA, MN 1,6961.7k $7.3k $7.3k 0.00% Unchanged
70 GF FUND MANAGEMENT CO. LTD. 0.00% of their portfolio GUANGZHOU, F4 1,1731.2k $5.1k $5.1k 0.00% Reduced -87 -87
71 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 888888 $3.8k $3.8k 0.00% Added +500 +500
72 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 549549 $2.4k $2.4k 0.00% New
73 FMR LLC 0.00% of their portfolio BOSTON, MA 265265 $1.1k $1.1k 0.00% Reduced -17.8k -17,811
74 Sterling Capital Management LLC 0.00% of their portfolio CHARLOTTE, NC 140140 $604 $604 0.00% New
75 Optiver Holding B.V. 0.00% of their portfolio AMSTERDAM, P7 4040 $173 $173 0.00% New
76 Caitong International Asset Management Co., Ltd 0.00% of their portfolio HONG KONG, K3 1515 $65 $65 0.00% New
77 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 66 $26 $26 0.00% Unchanged