Vault-13

REATA PHARMACEUTICALS INC RETA

CL A · Common Stock · CUSIP 75615P103

205 institutional holders +36 vs Q4 2022
28,475,92828.5m shares reported held*
$2.6bnreported value*
61 new 48 added 65 reduced 26 sold out net sold ≈ $131.5m (-1.4m 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 ($3.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $90.93. Options: 22 managers hold calls ($221.5m notional), 16 hold puts ($110.0m).

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 160Q4 22: 169Q1 23: 205205Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 2022160
Q4 2022169
Q1 2023205

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q4 22: 85 bought or addedQ4 22: 69 cut or sold outQ4 22Q1 23: 109 bought or addedQ1 23: 91 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20228569
Q1 202310991

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ3 22 calls: $46.0mQ3 22 puts: $28.1mQ3 22P/C 0.61Q4 22 calls: $22.6mQ4 22 puts: $32.3mQ4 22P/C 1.43Q1 23 calls: $221.5mQ1 23 puts: $110.0mQ1 23P/C 0.50
Numbers
QuarterCallsPutsP/C
Q3 2022$46.0m$28.1m0.61
Q4 2022$22.6m$32.3m1.43
Q1 2023$221.5m$110.0m0.50

Biggest buyers

PERCEPTIVE ADVISORS LLC New +2,169,276+2.2m
Deep Track Capital, LP New +729,000+729.0k
Point72 Asset Management, L.P. New +364,100+364.1k
Assenagon Asset Management S.A. New +347,961+348.0k
Invesco Ltd. Added +313,452+313.5k
BRAUN STACEY ASSOCIATES INC New +311,010+311.0k
Holocene Advisors, LP New +304,725+304.7k
PRICE T ROWE ASSOCIATES INC /MD/ Added +277,696+277.7k
JANUS HENDERSON GROUP PLC Added +217,947+217.9k
MARSHALL WACE, LLP Added +209,612+209.6k

Biggest sellers

FRED ALGER MANAGEMENT, LLC Reduced -1,334,703-1.3m
ADAGE CAPITAL PARTNERS GP, L.L.C. Reduced -836,235-836.2k
MILLENNIUM MANAGEMENT LLC Reduced -549,212-549.2k
MORGAN STANLEY Reduced -490,671-490.7k
First Light Asset Management, LLC Reduced -475,525-475.5k
T. Rowe Price Investment Management, Inc. Sold out -475,222-475.2k
Ghost Tree Capital, LLC Reduced -430,000-430.0k
EMERALD ADVISERS, LLC Reduced -365,151-365.2k
Sofinnova Investments, Inc. Reduced -364,346-364.3k
BlackRock Inc. Reduced -292,209-292.2k

Biggest calls

Caption Management, LLC New $47.9m527.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $37.1m408.0k shares
JPMORGAN CHASE & CO New $28.2m310.0k shares
Ghost Tree Capital, LLC New $27.3m300.0k shares
CITADEL ADVISORS LLC Reduced $12.7m139.6k shares
GROUP ONE TRADING LLC Added $11.9m131.4k shares
Ikarian Capital, LLC New $9.1m100.0k shares
JANE STREET GROUP, LLC Added $8.9m97.4k shares
SIMPLEX TRADING, LLC Added $8.6m94.3k shares
Walleye Trading LLC Added $8.3m91.1k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $39.8m437.2k shares
BANK OF AMERICA CORP /DE/ New $15.5m170.4k shares
CITADEL ADVISORS LLC Added $14.1m155.5k shares
Caption Management, LLC New $9.4m102.9k shares
JANE STREET GROUP, LLC Reduced $9.0m98.6k shares
SIMPLEX TRADING, LLC Added $7.0m76.6k shares
GROUP ONE TRADING LLC Added $6.3m69.8k shares
Walleye Trading LLC Added $3.0m32.8k shares
MILLENNIUM MANAGEMENT LLC New $2.4m26.5k shares
CITIGROUP INC New $1.4m15.0k 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.

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 CPMG Inc 53.13% of their portfolio DALLAS, TX 2,896,9012.9m $263.4m $263.4m 53.13% Unchanged
2 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 2,750,9412.8m $250.1m $250.1m 0.01% Added +45.3k +45,285
3 BlackRock Inc. 0.01% of their portfolio New York, NY 2,209,7492.2m $200.9m $200.9m 0.01% Reduced -292.2k -292,209
4 PERCEPTIVE ADVISORS LLC 5.84% of their portfolio NEW YORK, NY 2,169,2762.2m $197.2m $197.2m 5.84% New
5 First Light Asset Management, LLC 12.99% of their portfolio Edina, MN 1,586,9281.6m $144.3m $144.3m 12.99% Reduced -475.5k -475,525
6 DEUTSCHE BANK AG\ 0.08% of their portfolio FRANKFURT AM MAIN, 2M 1,494,8771.5m $135.9m $135.9m 0.08% Added +2.6k +2,639
7 WELLINGTON MANAGEMENT GROUP LLP 0.03% of their portfolio Boston, MA 1,421,1621.4m $129.2m $129.2m 0.03% Reduced -86.7k -86,720
8 Boxer Capital, LLC 5.49% of their portfolio San Diego, CA 1,230,0041.2m $111.8m $111.8m 5.49% Unchanged
9 Deep Track Capital, LP 2.82% of their portfolio GREENWICH, CT 729,000729.0k $66.3m $66.3m 2.82% New
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 632,945632.9k $57.5m $57.5m 0.00% Reduced -52.0k -52,047
11 Sofinnova Investments, Inc. 3.87% of their portfolio Menlo Park, CA 627,683627.7k $57.1m $57.1m 3.87% Reduced -364.3k -364,346
12 GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio BOSTON, MA 549,313549.3k $49.9m $49.9m 0.01% Added +23.2k +23,197
13 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.10% of their portfolio Boston, MA 469,618469.6k $42.7m $42.7m 0.10% Reduced -836.2k -836,235
14 MARSHALL WACE, LLP 0.09% of their portfolio LONDON, X0 414,954415.0k $37.7m $37.7m 0.09% Added +209.6k +209,612
15 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 403,556403.6k $36.7m $36.7m 0.01% Added +313.5k +313,452
16 Point72 Asset Management, L.P. 0.12% of their portfolio STAMFORD, CT 364,100364.1k $33.1m $33.1m 0.12% New
17 Assenagon Asset Management S.A. 0.12% of their portfolio SENNINGERBERG, N4 347,961348.0k $31.6m $31.6m 0.12% New
18 Blackstone Inc. 0.13% of their portfolio NEW YORK, NY 340,793340.8k $31.0m $31.0m 0.13% Unchanged
19 FARALLON CAPITAL MANAGEMENT, L.L.C. 0.18% of their portfolio SAN FRANCISCO, CA 325,000325.0k $29.5m $29.5m 0.18% Reduced -7.0k -7,000
20 EMERALD ADVISERS, LLC 1.37% of their portfolio LEOLA, PA 314,621314.6k $28.6m $28.6m 1.37% Reduced -365.2k -365,151
21 BRAUN STACEY ASSOCIATES INC 0.74% of their portfolio NEW YORK, NY 311,010311.0k $28.3m $28.3m 0.74% New
22 Holocene Advisors, LP 0.14% of their portfolio New York, NY 304,725304.7k $27.7m $27.7m 0.14% New
23 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 297,065297.1k $27.0m $27.0m 0.00% Added +277.7k +277,696
24 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 282,848282.8k $25.7m $25.7m 0.01% Added +11.0k +10,957
25 EMERALD MUTUAL FUND ADVISERS TRUST 1.37% of their portfolio LEOLA, PA 255,018255.0k $23.2m $23.2m 1.37% Reduced -271.4k -271,427
26 FMR LLC 0.00% of their portfolio BOSTON, MA 248,970249.0k $22.6m $22.6m 0.00% Reduced -135.1k -135,106
27 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 243,061243.1k $22.1m $22.1m 0.00% Reduced -490.7k -490,671
28 JANUS HENDERSON GROUP PLC 0.01% of their portfolio LONDON, X0 223,319223.3k $20.3m $20.3m 0.01% Added +217.9k +217,947
29 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 221,696221.7k $20.2m $20.2m 0.00% Added +18.7k +18,685
30 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 214,060214.1k $19.5m $19.5m 0.02% Reduced -549.2k -549,212
31 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 206,825206.8k $18.8m $18.8m 0.01% Added +805 +805
32 MPM BIOIMPACT LLC 4.30% of their portfolio BOSTON, MA 176,874176.9k $16.5m $16.5m 4.30% Reduced -17.3k -17,307
33 FRED ALGER MANAGEMENT, LLC 0.08% of their portfolio NEW YORK, NY 174,701174.7k $15.9m $15.9m 0.08% Reduced -1.3m -1,334,703
34 Soleus Capital Management, L.P. 1.97% of their portfolio GREENWICH, CT 174,592174.6k $15.9m $15.9m 1.97% New
35 NORGES BANK 0.00% of their portfolio OSLO, Q8 165,482165.5k $15.0m $15.0m 0.00% Reduced -39.8k -39,837
36 VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio San Antonio, TX 161,682161.7k $14.7m $14.7m 0.02% New
37 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.07% of their portfolio JUPITER, FL 159,816159.8k $14.5m $14.5m 0.07% Reduced -58.0k -58,031
38 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 142,799142.8k $13.0m $13.0m 0.00% Reduced -130.4k -130,419
39 TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio NEW YORK, NY 124,580124.6k $11.3m $11.3m 0.03% Reduced -20.9k -20,864
40 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 123,243123.2k $11.2m $11.2m 0.00% Reduced -44.2k -44,173
41 Ensign Peak Advisors, Inc 0.02% of their portfolio SALT LAKE CITY, UT 118,375118.4k $10.8m $10.8m 0.02% Added +47.5k +47,460
42 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 111,121111.1k $10.1m $10.1m 0.00% Added +4.0k +4,006
43 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 101,870101.9k $9.3m $9.3m 0.01% Added +86.8k +86,819
44 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 101,675101.7k $9.2m $9.2m 0.00% Reduced -277 -277
45 D. E. Shaw & Co., Inc. 0.01% of their portfolio New York, NY 93,41693.4k $8.5m $8.5m 0.01% Reduced -228.5k -228,467
46 Ikarian Capital, LLC 3.04% of their portfolio DALLAS, TX 80,56480.6k $7.3m $7.3m 3.04% New
47 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 79,04379.0k $7.2m $7.2m 0.01% Added +27.4k +27,418
48 Integral Health Asset Management, LLC 1.34% of their portfolio New York, NY 71,00071.0k $6.5m $6.5m 1.34% Reduced -14.0k -14,000
49 Ghost Tree Capital, LLC 2.41% of their portfolio NEW YORK, NY 70,00070.0k $6.4m $6.4m 2.41% Reduced -430.0k -430,000
50 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 68,97369.0k $6.3m $6.3m 0.00% Reduced -44.4k -44,366
51 Tri Locum Partners LP 1.86% of their portfolio NEW YORK, NY 67,20667.2k $6.1m $6.1m 1.86% Reduced -74.3k -74,260
52 KING LUTHER CAPITAL MANAGEMENT CORP 0.03% of their portfolio FORT WORTH, TX 65,53465.5k $6.0m $6.0m 0.03% Unchanged
53 683 Capital Management, LLC 0.49% of their portfolio NEW YORK, NY 60,00060.0k $5.5m $5.5m 0.49% New
54 MOORE CAPITAL MANAGEMENT, LP 0.17% of their portfolio NEW YORK, NY 58,30158.3k $5.3m $5.3m 0.17% New
55 Swiss National Bank 0.00% of their portfolio ZURICH, V8 58,20058.2k $5.3m $5.3m 0.00% Reduced -6.6k -6,600
56 Hennion & Walsh Asset Management, Inc. 0.31% of their portfolio Parsippany, NJ 56,20456.2k $5.1m $5.1m 0.31% Reduced -1.9k -1,870
57 Brookfield Corp /ON/ 0.02% of their portfolio TORONTO, A6 55,20155.2k $5.0m $5.0m 0.02% New
58 Schonfeld Strategic Advisors LLC 0.05% of their portfolio NEW YORK, NY 54,96355.0k $5.0m $5.0m 0.05% Reduced -207.6k -207,641
59 Moody Aldrich Partners LLC 0.91% of their portfolio MARBLEHEAD, MA 49,52949.5k $4.5m $4.5m 0.91% New
60 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 48,97849.0k $4.5m $4.5m 0.01% Reduced -3.4k -3,417
61 PDT Partners, LLC 0.53% of their portfolio New York, NY 43,14943.1k $3.9m $3.9m 0.53% Added +5 +5
62 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 41,47641.5k $3.8m $3.8m 0.00% Added +2.3k +2,334
63 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 40,75040.8k $3.7m $3.7m 0.00% Added +21.3k +21,290
64 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 40,40840.4k $3.7m $3.7m 0.00% Added +1.5k +1,456
65 Tolleson Wealth Management, Inc. 0.95% of their portfolio DALLAS, TX 40,25040.2k $3.7m $3.7m 0.95% Reduced -7.0k -7,000
66 Artia Global Partners LP 1.46% of their portfolio MIAMI, FL 40,00040.0k $3.6m $3.6m 1.46% New
67 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 38,94038.9k $3.5m $3.5m 0.01% New
68 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 35,20035.2k $3.2m $3.2m 0.01% Reduced -15.0k -15,000
69 Altium Capital Management LLC 1.90% of their portfolio NEW YORK, NY 35,00035.0k $3.2m $3.2m 1.90% New
70 Cubist Systematic Strategies, LLC 0.03% of their portfolio STAMFORD, CT 34,94634.9k $3.2m $3.2m 0.03% Added +27.6k +27,627
71 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 33,98034.0k $3.1m $3.1m 0.00% Reduced -418 -418
72 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 33,76433.8k $3.1m $3.1m 0.01% Added +4.5k +4,481
73 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 32,20732.2k $2.9m $2.9m 0.00% Reduced -42.4k -42,429
74 Aquatic Capital Management LLC 0.18% of their portfolio CHICAGO, IL 31,20031.2k $2.8m $2.8m 0.18% New
75 Fayez Sarofim & Co 0.01% of their portfolio Houston, TX 30,32930.3k $2.8m $2.8m 0.01% Unchanged
76 LBJ Family Wealth Advisors, Ltd. 1.91% of their portfolio AUSTIN, TX 29,90729.9k $2.7m $2.7m 1.91% Reduced -452 -452
77 KRS Capital Management, LLC 2.88% of their portfolio Bloomfield, MI 28,14128.1k $2.6m $2.6m 2.88% Unchanged
78 Legal & General Group Plc 0.00% of their portfolio London, X0 26,66326.7k $2.4m $2.4m 0.00% Added +2.6k +2,593
79 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 25,83625.8k $2.3m $2.3m 0.00% Added +2.0k +2,028
80 SECTORAL ASSET MANAGEMENT INC 0.44% of their portfolio MONTREAL, A8 25,00025.0k $2.3m $2.3m 0.44% New
81 BRIDGER MANAGEMENT, LLC 0.84% of their portfolio NEW YORK, NY 24,80024.8k $2.3m $2.3m 0.84% New
82 GROUP ONE TRADING LLC 0.11% of their portfolio CHICAGO, IL 24,37624.4k $2.2m $2.2m 0.11% Added +4.8k +4,802
83 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 24,23124.2k $2.2m $2.2m 0.01% Reduced -2.7k -2,716
84 Squarepoint Ops LLC 0.02% of their portfolio NEW YORK, NY 23,76923.8k $2.2m $2.2m 0.02% Reduced -65.5k -65,515
85 MADDEN SECURITIES Corp 1.14% of their portfolio DALLAS, TX 23,70823.7k $2.2m $2.2m 1.14% Unchanged
86 Erste Asset Management GmbH 0.04% of their portfolio VIENNA, C4 23,00023.0k $2.1m $2.1m 0.04% Added +23.0k +23,000
87 TUDOR INVESTMENT CORP ET AL 0.04% of their portfolio STAMFORD, CT 21,76021.8k $2.0m $2.0m 0.04% New
88 HighMark Wealth Management LLC 1.51% of their portfolio ST. PAUL, MN 21,26921.3k $1.9m $1.9m 1.51% Added +11.6k +11,588
89 TCTC Holdings, LLC 0.08% of their portfolio DALLAS, TX 20,98221.0k $1.9m $1.9m 0.08% Unchanged
90 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 20,41120.4k $1.9m $1.9m 0.00% Added +9.5k +9,532
91 Tekla Capital Management LLC 0.06% of their portfolio Boston, MA 17,85017.9k $1.6m $1.6m 0.06% New
92 UBS Group AG 0.00% of their portfolio ZURICH, V8 17,74417.7k $1.6m $1.6m 0.00% Added +15.3k +15,259
93 CAPITAL COUNSEL LLC/NY 0.09% of their portfolio NEW YORK, NY 17,00017.0k $1.5m $1.5m 0.09% Unchanged
94 DekaBank Deutsche Girozentrale 0.00% of their portfolio FRANKFURT, 2M 17,00017.0k $1.5m $1.5m 0.00% Reduced -5.6k -5,640
95 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 16,75616.8k $1.5m $1.5m 0.00% Added +886 +886
96 FEDERATED HERMES, INC. 0.00% of their portfolio PITTSBURGH, PA 16,69716.7k $1.5m $1.5m 0.00% New
97 BOOTHBAY FUND MANAGEMENT, LLC 0.04% of their portfolio NEW YORK, NY 16,15416.2k $1.5m $1.5m 0.04% New
98 KEYBANK NATIONAL ASSOCIATION/OH 0.01% of their portfolio BROOKLYN, OH 15,25015.2k $1.4m $1.4m 0.01% Unchanged
99 MONTANOVA CAPITAL, LLC 0.07% of their portfolio New York, NY 15,10015.1k $1.4m $1.4m 0.07% New
100 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 14,85914.9k $1.4m $1.4m 0.00% Added +4.1k +4,103