Vault-13

SOLENO THERAPEUTICS INC SLNO

COM · Common Stock · CUSIP 834203309

77 institutional holders +22 vs Q3 2023
34,314,49934.3m shares reported held*
$1.4bnreported value*
33 new 22 added 10 reduced 12 sold out net bought ≈ $511.8m (+12.7m 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 ($128.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $40.25. Options: 7 managers hold calls ($2.5m notional), 6 hold puts ($4.0m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 20Q4 22: 26Q1 23: 21Q2 23: 23Q3 23: 55Q4 23: 7777Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 202220
Q4 202226
Q1 202321
Q2 202323
Q3 202355
Q4 202377

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 22: 12 bought or addedQ4 22: 9 cut or sold outQ4 22Q1 23: 8 bought or addedQ1 23: 9 cut or sold outQ1 23Q2 23: 6 bought or addedQ2 23: 9 cut or sold outQ2 23Q3 23: 41 bought or addedQ3 23: 12 cut or sold outQ3 23Q4 23: 55 bought or addedQ4 23: 22 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022129
Q1 202389
Q2 202369
Q3 20234112
Q4 20235522

Calls vs puts

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

CallsPuts
$0$1m$2m$3m$4mQ1 23 calls: $0Q1 23 puts: $0Q1 23P/C —Q2 23 calls: $0Q2 23 puts: $0Q2 23P/C —Q3 23 calls: $0Q3 23 puts: $0Q3 23P/C —Q4 23 calls: $2.5mQ4 23 puts: $4.0mQ4 23P/C 1.62
Numbers
QuarterCallsPutsP/C
Q1 2023$0$0—
Q2 2023$0$0—
Q3 2023$0$0—
Q4 2023$2.5m$4.0m1.62

Biggest buyers

Nantahala Capital Management, LLC Added +5,320,298+5.3m
Vivo Capital, LLC Added +5,215,000+5.2m
VANGUARD GROUP INC Added +914,371+914.4k
Avoro Capital Advisors LLC New +785,000+785.0k
Carlyle Group Inc. Added +564,242+564.2k
ADAGE CAPITAL PARTNERS GP, L.L.C. Added +499,814+499.8k
STATE STREET CORP Added +485,954+486.0k
Balyasny Asset Management L.P. Added +468,053+468.1k
JANUS HENDERSON GROUP PLC Added +319,844+319.8k
BlackRock Inc. Added +313,408+313.4k

Biggest sellers

RA CAPITAL MANAGEMENT, L.P. Sold out -1,239,000-1.2m
Fairmount Funds Management LLC Sold out -1,142,473-1.1m
Soleus Capital Management, L.P. Sold out -325,000-325.0k
SILVERARC CAPITAL MANAGEMENT, LLC Reduced -296,335-296.3k
FARALLON CAPITAL MANAGEMENT, L.L.C. Reduced -222,781-222.8k
Commodore Capital LP Reduced -187,500-187.5k
Logos Global Management LP Sold out -125,000-125.0k
Parkman Healthcare Partners LLC Sold out -100,000-100.0k
Woodline Partners LP Reduced -63,860-63.9k
RENAISSANCE TECHNOLOGIES LLC Sold out -61,554-61.6k

Biggest calls

Ikarian Capital, LLC New $853.3k21.2k shares
CITADEL ADVISORS LLC New $487.0k12.1k shares
JANE STREET GROUP, LLC New $434.7k10.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $418.6k10.4k shares
BOOTHBAY FUND MANAGEMENT, LLC New $225.4k5.6k shares
SIMPLEX TRADING, LLC New $44.0k1.1k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $2.3m57.4k shares
SIMPLEX TRADING, LLC New $805.0k20.0k shares
Caption Management, LLC New $805.0k20.0k shares
ADAR1 Capital Management, LLC First filing $44.3k1.1k shares
CITADEL ADVISORS LLC New $16.1k400 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 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
BlackRock, Inc. 13G · institution +1.4 pts · filed 2026-04-24 6.9% +1.4 pts 3.5m 2026-04-24
ADAGE CAPITAL PARTNERS GP, L.L.C. 13G · institution filed 2025-02-12 6.4% 2.8m 2025-02-12
STATE STREET CORP 13G · institution new · filed 2026-05-12 5.2% new 2.7m 2026-05-12

Fell to 5% or below in the last year: WELLINGTON MANAGEMENT GROUP LLP (0.0%, 2026-08-13), PRICE T ROWE ASSOCIATES INC /MD/ (2.0%, 2026-05-15), Avoro Capital Advisors LLC (4.5%, 2026-05-15), JANUS HENDERSON GROUP PLC (2.3%, 2026-05-07), FMR LLC (0.4%, 2026-05-07), VANGUARD GROUP INC (0.0%, 2026-03-27), Vivo Opportunity Fund Holdings, L.P. (4.2%, 2025-11-14), Adage Capital Management, L.P. (2.6%, 2025-11-13; now reported by ADAGE CAPITAL PARTNERS GP, L.L.C.)

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Vivo Capital, LLC 27.74% of their portfolio Palo Alto, CA 8,418,0938.4m $338.8m $338.8m 27.74% Added +5.2m +5,215,000
2 Nantahala Capital Management, LLC 11.52% of their portfolio NEW CANAAN, CT 5,712,7025.7m $229.9m $229.9m 11.52% Added +5.3m +5,320,298
3 PERCEPTIVE ADVISORS LLC 2.77% of their portfolio NEW YORK, NY 3,074,5423.1m $123.8m $123.8m 2.77% Unchanged
4 Carlyle Group Inc. 5.53% of their portfolio WASHINGTON, DC 2,857,8042.9m $115.0m $115.0m 5.53% Added +564.2k +564,242
5 JANUS HENDERSON GROUP PLC 0.06% of their portfolio LONDON, X0 2,523,8972.5m $101.6m $101.6m 0.06% Added +319.8k +319,844
6 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.15% of their portfolio Boston, MA 1,826,8141.8m $73.5m $73.5m 0.15% Added +499.8k +499,814
7 Vestal Point Capital, LP 5.54% of their portfolio NEW YORK, NY 1,300,0001.3m $52.3m $52.3m 5.54% First filing
8 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 969,622969.6k $39.0m $39.0m 0.00% Added +914.4k +914,371
9 Balyasny Asset Management L.P. 0.10% of their portfolio Chicago, IL 926,876926.9k $37.3m $37.3m 0.10% Added +468.1k +468,053
10 Avoro Capital Advisors LLC 0.44% of their portfolio NEW YORK, NY 785,000785.0k $31.6m $31.6m 0.44% New
11 Commodore Capital LP 2.46% of their portfolio NEW YORK, NY 700,000700.0k $28.2m $28.2m 2.46% Reduced -187.5k -187,500
12 Ikarian Capital, LLC 6.50% of their portfolio DALLAS, TX 590,243590.2k $23.8m $23.8m 6.50% Added +53.5k +53,523
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 501,402501.4k $20.2m $20.2m 0.00% Added +486.0k +485,954
14 Frazier Life Sciences Management, L.P. 1.00% of their portfolio PALO ALTO, CA 464,937464.9k $18.7m $18.7m 1.00% Unchanged
15 BlackRock Inc. 0.00% of their portfolio New York, NY 313,661313.7k $12.6m $12.6m 0.00% Added +313.4k +313,408
16 Ally Bridge Group (NY) LLC 7.43% of their portfolio NEW YORK, NY 309,950309.9k $12.5m $12.5m 7.43% New
17 SAMLYN CAPITAL, LLC 0.26% of their portfolio New York, NY 301,777301.8k $12.1m $12.1m 0.26% New
18 EMERALD ADVISERS, LLC 0.43% of their portfolio LEOLA, PA 252,153252.2k $10.1m $10.1m 0.43% Added +3.5k +3,479
19 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 212,606212.6k $8.6m $8.6m 0.00% New
20 EMERALD MUTUAL FUND ADVISERS TRUST 0.43% of their portfolio LEOLA, PA 201,326201.3k $8.1m $8.1m 0.43% Unchanged
21 Woodline Partners LP 0.09% of their portfolio San Francisco, CA 200,000200.0k $8.1m $8.1m 0.09% Reduced -63.9k -63,860
22 FARALLON CAPITAL MANAGEMENT, L.L.C. 0.04% of their portfolio SAN FRANCISCO, CA 165,219165.2k $6.7m $6.7m 0.04% Reduced -222.8k -222,781
23 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 162,844162.8k $6.6m $6.6m 0.00% Added +110.3k +110,291
24 BOOTHBAY FUND MANAGEMENT, LLC 0.17% of their portfolio NEW YORK, NY 123,139123.1k $5.0m $5.0m 0.17% Added +14.8k +14,762
25 Ghost Tree Capital, LLC 2.60% of their portfolio NEW YORK, NY 112,385112.4k $4.5m $4.5m 2.60% New
26 Altium Capital Management LLC 2.91% of their portfolio NEW YORK, NY 104,909104.9k $4.2m $4.2m 2.91% Added +57.8k +57,828
27 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 101,374101.4k $4.1m $4.1m 0.00% Added +68.3k +68,274
28 Informed Momentum Co LLC 0.67% of their portfolio SOLANA BEACH, CA 93,42593.4k $3.8m $3.8m 0.67% Reduced -45.9k -45,905
29 683 Capital Management, LLC 0.35% of their portfolio NEW YORK, NY 87,00087.0k $3.5m $3.5m 0.35% Unchanged
30 SILVERARC CAPITAL MANAGEMENT, LLC 0.91% of their portfolio BOSTON, MA 73,66573.7k $3.0m $3.0m 0.91% Reduced -296.3k -296,335
31 J. Goldman & Co LP 0.16% of their portfolio NEW YORK, NY 73,25273.3k $2.9m $2.9m 0.16% Added +7.3k +7,252
32 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 68,59968.6k $2.8m $2.8m 0.00% New
33 Schonfeld Strategic Advisors LLC 0.02% of their portfolio NEW YORK, NY 60,89060.9k $2.5m $2.5m 0.02% Added +37.7k +37,690
34 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 57,47057.5k $2.3m $2.3m 0.00% Added +53.6k +53,572
35 Cubist Systematic Strategies, LLC 0.03% of their portfolio STAMFORD, CT 57,00657.0k $2.3m $2.3m 0.03% New
36 Rafferty Asset Management, LLC 0.01% of their portfolio New York, NY 51,87451.9k $2.1m $2.1m 0.01% New
37 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 45,45645.5k $1.8m $1.8m 0.00% New
38 Jefferies Financial Group Inc. 0.02% of their portfolio NEW YORK, NY 35,09135.1k $1.4m $1.4m 0.02% New
39 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 33,96234.0k $1.4m $1.4m 0.00% Added +33.9k +33,859
40 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 33,31833.3k $1.3m $1.3m 0.00% Added +26.3k +26,288
41 MAPLELANE CAPITAL, LLC 0.12% of their portfolio New York, NY 25,00025.0k $1.0m $1.0m 0.12% Unchanged
42 Swiss National Bank 0.00% of their portfolio ZURICH, V8 22,80022.8k $917.7k $917.7k 0.00% New
43 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 21,62021.6k $870.2k $870.2k 0.00% New
44 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 21,30521.3k $857.5k $857.5k 0.00% New
45 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 20,75420.8k $835.3k $835.3k 0.00% Unchanged
46 AWM Investment Company, Inc. 0.11% of their portfolio NEW YORK, NY 20,00020.0k $805.0k $805.0k 0.11% New
47 ALPS ADVISORS INC 0.01% of their portfolio Denver, CO 19,48619.5k $784.3k $784.3k 0.01% New
48 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 18,69618.7k $752.5k $752.5k 0.00% New
49 UBS Group AG 0.00% of their portfolio ZURICH, V8 17,78817.8k $716.0k $716.0k 0.00% New
50 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 13,68313.7k $550.7k $550.7k 0.00% Reduced -41.8k -41,773
51 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 12,83912.8k $516.8k $516.8k 0.00% New
52 ASPIRIANT, LLC 0.02% of their portfolio San Francisco, CA 12,12812.1k $488.2k $488.2k 0.02% New
53 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 10,31310.3k $415.1k $415.1k 0.00% Reduced -3.3k -3,258
54 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 10,29910.3k $414.5k $414.5k 0.00% New
55 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 9,9369.9k $399.9k $399.9k 0.00% Added +449 +449
56 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 9,4969.5k $382.2k $382.2k 0.00% New
57 Atom Investors LP 0.06% of their portfolio AUSTIN, TX 8,8468.8k $356.1k $356.1k 0.06% New
58 PROFUND ADVISORS LLC 0.01% of their portfolio BETHESDA, MD 8,1878.2k $329.5k $329.5k 0.01% New
59 Legal & General Group Plc 0.00% of their portfolio London, X0 7,7277.7k $311.0k $311.0k 0.00% New
60 Engineers Gate Manager LP 0.01% of their portfolio NEW YORK, NY 7,7027.7k $310.0k $310.0k 0.01% New
61 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 7,1957.2k $289.6k $289.6k 0.00% New
62 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 6,9096.9k $278.1k $278.1k 0.00% New
63 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 6,0586.1k $243.8k $243.8k 0.00% Reduced -4.1k -4,128
64 SIMPLEX TRADING, LLC 0.01% of their portfolio CHICAGO, IL 4,1924.2k $168.0k $168.0k 0.01% New
65 VIRTUS ADVISERS, LLC 0.06% of their portfolio HARTFORD, CT 2,4902.5k $100.2k $100.2k 0.06% New
66 Bollard Group LLC 0.00% of their portfolio BOSTON, MA 2,2882.3k $92.0k $92.0k 0.00% Unchanged
67 SHELL ASSET MANAGEMENT CO 0.00% of their portfolio THE HAGUE, P7 2,0962.1k $84.0k $84.0k 0.00% New
68 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,3621.4k $54.8k $54.8k 0.00% Reduced -31.8k -31,814
69 Sofinnova Investments, Inc. 0.00% of their portfolio Menlo Park, CA 1,2001.2k $48.3k $48.3k 0.00% New
70 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 480480 $19.3k $19.3k 0.00% Reduced -6.8k -6,819
71 Balefire, LLC 0.00% of their portfolio DALLAS, TX 168168 $6.8k $6.8k 0.00% Unchanged
72 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 137137 $5.5k $5.5k 0.00% New
73 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 115115 $4.6k $4.6k 0.00% Added +82 +82
74 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 7171 $2.9k $2.9k 0.00% Unchanged
75 GROUP ONE TRADING LLC 0.00% of their portfolio CHICAGO, IL 3737 $1.5k $1.5k 0.00% Unchanged
76 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 55 $201 $201 0.00% New
77 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged