Vault-13

RANI THERAPEUTICS HLDGS INC RANI

COM CL A · Common Stock · CUSIP 753018100

38 institutional holders -2 vs Q2 2025
4,034,1424.0m shares reported held*
$2.0mreported value*
6 new 9 added 7 reduced 7 sold out net sold ≈ $1.2m (-2.4m 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 ≈ $0.50. Options: 2 managers hold calls ($8.3k notional), 0 hold puts (—).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 33Q4 22: 35Q1 23: 37Q2 23: 36Q3 23: 35Q4 23: 35Q1 24: 38Q2 24: 36Q3 24: 32Q4 24: 44Q1 25: 39Q2 25: 40Q3 25: 3838Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 202233
Q4 202235
Q1 202337
Q2 202336
Q3 202335
Q4 202335
Q1 202438
Q2 202436
Q3 202432
Q4 202444
Q1 202539
Q2 202540
Q3 202538

Buyers vs sellers

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

Bought or addedCut or sold out
20020Q4 23: 6 bought or addedQ4 23: 8 cut or sold outQ1 24: 12 bought or addedQ1 24: 6 cut or sold outQ1 24Q2 24: 12 bought or addedQ2 24: 14 cut or sold outQ3 24: 12 bought or addedQ3 24: 12 cut or sold outQ3 24Q4 24: 19 bought or addedQ4 24: 11 cut or sold outQ1 25: 14 bought or addedQ1 25: 13 cut or sold outQ1 25Q2 25: 11 bought or addedQ2 25: 13 cut or sold outQ3 25: 15 bought or addedQ3 25: 14 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 202368
Q1 2024126
Q2 20241214
Q3 20241212
Q4 20241911
Q1 20251413
Q2 20251113
Q3 20251514

Calls vs puts

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

CallsPuts
$0$100k$200k$300kQ4 24 calls: $157.1kQ4 24 puts: $279.4kQ4 24P/C 1.78Q1 25 calls: $147.0kQ1 25 puts: $141.7kQ1 25P/C 0.96Q2 25 calls: $51.3kQ2 25 puts: $0Q2 25P/C 0.00Q3 25 calls: $8.3kQ3 25 puts: $0Q3 25P/C 0.00
Numbers
QuarterCallsPutsP/C
Q4 2024$157.1k$279.4k1.78
Q1 2025$147.0k$141.7k0.96
Q2 2025$51.3k$00.00
Q3 2025$8.3k$00.00

Biggest buyers

CITADEL ADVISORS LLC Added +315,193+315.2k
HRT FINANCIAL LP New +113,206+113.2k
GEODE CAPITAL MANAGEMENT, LLC Added +106,353+106.4k
VANGUARD GROUP INC Added +84,930+84.9k
KESTRA PRIVATE WEALTH SERVICES, LLC Added +70,002+70.0k
CWA Asset Management Group, LLC Added +66,667+66.7k
XTX Topco Ltd New +44,077+44.1k
RENAISSANCE TECHNOLOGIES LLC New +24,908+24.9k
ACT Advisors, LLC. New +14,806+14.8k
UBS Group AG Added +7,059+7.1k

Biggest sellers

ARMISTICE CAPITAL, LLC Sold out -3,151,354-3.2m
BRIDGEWAY CAPITAL MANAGEMENT, LLC Sold out -46,500-46.5k
GSA CAPITAL PARTNERS LLP Sold out -25,391-25.4k
Vanguard Personalized Indexing Management, LLC Sold out -15,396-15.4k
BANK OF AMERICA CORP /DE/ Reduced -13,413-13.4k
Janney Montgomery Scott LLC Reduced -6,000-6.0k
NORTHERN TRUST CORP Reduced -5,906-5.9k
OSAIC HOLDINGS, INC. Reduced -5,668-5.7k
Tower Research Capital LLC (TRC) Reduced -3,061-3.1k
RAYMOND JAMES FINANCIAL INC Sold out -2,954-3.0k

Biggest calls

SIMPLEX TRADING, LLC Reduced $5.0k11.4k shares
GROUP ONE TRADING LLC Reduced $3.3k6.7k shares

Biggest puts

None

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
InCube Labs, L.L.C. 13D · may seek influence filed 2025-10-27
Stated purposeThe information set forth in Item 1 and Item 3 of this Amendment No. 1 is incorporate herein by reference. Item 4 of the Statement is hereby amended and supplemented as follows: In connection with a private placement, as promptly as possible following the closing, but in no event later than ninety (90) days following the closing date, the Issuer has agreed to use reasonable best efforts to: (a) amend the Issuer's Amended and Restated Certificate of Incorporation to, among other things, effect the following: (i) reduce the number of votes to which each share of Class B Common Stock is entitled from ten (10) votes to one (1) vote, (ii) eliminate the ability of the Issuer's stockholders to act by written consent, and (iii) include additional stockholder protective provisions (not including … Full filing
22.1% 27.1m≈ $20.6m 2025-10-27
Invus Global Management, LLC 13G · passive investor new · filed 2025-10-23 10.0% new 9.8m≈ $7.5m 2025-10-23
ARMISTICE CAPITAL, LLC 13G · institution filed 2025-08-15 9.9% 6.3m≈ $4.8m 2025-08-15
RA CAPITAL MANAGEMENT, L.P. 13G · passive investor no change · filed 2026-08-14 9.9% no change 11.5m≈ $8.8m 2026-08-14
Samsara BioCapital, L.P. 13D · may seek influence no change · filed 2026-05-28 9.9% no change 11.3m≈ $8.6m 2026-05-28
AWM Investment Company, Inc. 13G · institution new · filed 2026-02-13 9.9% new 9.7m≈ $7.4m 2026-02-13

Fell to 5% or below in the last year: VANGUARD CAPITAL MANAGEMENT LLC (4.5%, 2026-07-31), SymBiosis Capital Partners, LLC (4.4%, 2026-05-15), VANGUARD GROUP INC (0.0%, 2026-03-27)

Insider purchases and sales in Q3 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.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
404Q4 23: 3 buyingQ4 23: 0 sellingQ1 24: 0 buyingQ1 24: 0 sellingQ1 24Q2 24: 0 buyingQ2 24: 0 sellingQ3 24: 0 buyingQ3 24: 0 sellingQ3 24Q4 24: 2 buyingQ4 24: 1 sellingQ1 25: 0 buyingQ1 25: 0 sellingQ1 25Q2 25: 0 buyingQ2 25: 0 sellingQ3 25: 0 buyingQ3 25: 0 sellingQ3 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20233$190.0k0——
Q1 20240—0——
Q2 20240—0——
Q3 20240—0——
Q4 20242$50.0k1$11.3k—
Q1 20250—0——
Q2 20250—0——
Q3 20250—0——

None reported in Q3 2025.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 884,609884.6k $442.3k $442.3k 0.00% Added +84.9k +84,930
2 Nan Fung Group Holdings Ltd 0.41% of their portfolio KAI TAK, K3 493,584493.6k $246.7k $246.7k 0.41% Unchanged
3 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 452,542452.5k $226.2k $226.2k 0.00% Added +315.2k +315,193
4 UNITED SERVICES AUTOMOBILE ASSOCIATION 0.01% of their portfolio SAN ANTONIO, TX 302,743302.7k $151.3k $151.3k 0.01% Unchanged
5 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 296,910296.9k $148.4k $148.4k 0.00% Added +106.4k +106,353
6 KESTRA PRIVATE WEALTH SERVICES, LLC 0.00% of their portfolio AUSTIN, TX 226,142226.1k $113.0k $113.0k 0.00% Added +70.0k +70,002
7 TAKEDA PHARMACEUTICAL CO LTD 0.62% of their portfolio Tokyo, M0 203,190203.2k $101.6k $101.6k 0.62% Unchanged
8 CWA Asset Management Group, LLC 0.00% of their portfolio NAPLES, FL 150,000150.0k $75.0k $75.0k 0.00% Added +66.7k +66,667
9 BlackRock, Inc. 0.00% of their portfolio New York, NY 120,232120.2k $60.1k $60.1k 0.00% Added +1.6k +1,580
10 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 113,206113.2k $56.0k $56.0k 0.00% New
11 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 97,00597.0k $48.5k $48.5k 0.00% Reduced -5.9k -5,906
12 UBS Group AG 0.00% of their portfolio ZURICH, V8 69,12369.1k $34.6k $34.6k 0.00% Added +7.1k +7,059
13 LASRY MARC 0.21% of their portfolio NEW YORK, NY 62,88762.9k $31.4k $31.4k 0.21% Unchanged
14 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 62,44262.4k $31.2k $31.2k 0.00% Unchanged
15 KING LUTHER CAPITAL MANAGEMENT CORP 0.00% of their portfolio FORT WORTH, TX 58,00058.0k $29.0k $29.0k 0.00% Unchanged
16 Well Done, LLC 0.00% of their portfolio HOLLAND, MI 52,01452.0k $26.0k $26.0k 0.00% Unchanged
17 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 49,20049.2k $25.0k $25.0k 0.00% Reduced -6.0k -6,000
18 MOTCO 0.00% of their portfolio SAN ANTONIO, TX 48,12948.1k $24.1k $24.1k 0.00% Unchanged
19 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 47,50047.5k $23.7k $23.7k 0.00% Unchanged
20 XTX Topco Ltd 0.00% of their portfolio LONDON, X0 44,07744.1k $22.0k $22.0k 0.00% New
21 BROWN ADVISORY INC 0.00% of their portfolio BALTIMORE, MD 32,91132.9k $16.4k $16.4k 0.00% Unchanged
22 Prime Capital Investment Advisors, LLC 0.00% of their portfolio OVERLAND PARK, KS 27,20827.2k $13.6k $13.6k 0.00% Unchanged
23 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 24,90824.9k $12.4k $12.4k 0.00% New
24 Lafayette Investments, Inc. 0.00% of their portfolio ASHTON, MD 19,89319.9k $9.9k $9.9k 0.00% Unchanged
25 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 17,75217.8k $8.9k $8.9k 0.00% Reduced -13.4k -13,413
26 ACT Advisors, LLC. 0.00% of their portfolio ASHEVILLE, NC 14,80614.8k $7.4k $7.4k 0.00% New
27 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 12,63212.6k $6.3k $6.3k 0.00% Added +3.0k +3,012
28 CHOREO, LLC 0.00% of their portfolio ROCKFORD, IL 11,81311.8k $5.9k $5.9k 0.00% Unchanged
29 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 10,00010.0k $5.0k $5.0k 0.00% Unchanged
30 ISLAY CAPITAL MANAGEMENT, LLC 0.00% of their portfolio Lubbock, TX 9,6119.6k $4.8k $4.8k 0.00% Unchanged
31 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 6,7506.8k $3.4k $3.4k 0.00% Reduced -270 -270
32 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 6,2246.2k $3.1k $3.1k 0.00% Reduced -3.1k -3,061
33 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 3,1193.1k $1.6k $1.6k 0.00% Unchanged
34 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,0001.0k $490 $490 0.00% Reduced -5.7k -5,668
35 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 980980 $490 $490 0.00% New
36 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 819819 $0 $0 0.00% New
37 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 142142 $70 $70 0.00% Added +71 +71
38 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3939 $0 $0 0.00% Reduced -23 -23