Vault-13

X4 PHARMACEUTICALS INC

COM · CUSIP 98420X103

97 institutional holders +36 vs Q1 2023
112,975,151113.0m shares reported held*
$219.2mreported value*
44 new 27 added 11 reduced 9 sold out net bought ≈ $99.0m (+51.0m 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 ($2 this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $1.94. Options: 9 managers hold calls ($10.9m notional), 7 hold puts ($1.8m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 60Q4 22: 54Q1 23: 61Q2 23: 9797Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202260
Q4 202254
Q1 202361
Q2 202397

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 22: 29 bought or addedQ4 22: 23 cut or sold outQ4 22Q1 23: 30 bought or addedQ1 23: 17 cut or sold outQ1 23Q2 23: 71 bought or addedQ2 23: 20 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20222923
Q1 20233017
Q2 20237120

Calls vs puts

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

CallsPuts
$0$5m$10m$15mQ3 22 calls: $123.0kQ3 22 puts: $221.0kQ3 22P/C 1.80Q4 22 calls: $270.8kQ4 22 puts: $239.4kQ4 22P/C 0.88Q1 23 calls: $49.4kQ1 23 puts: $150.6kQ1 23P/C 3.05Q2 23 calls: $10.9mQ2 23 puts: $1.8mQ2 23P/C 0.17
Numbers
QuarterCallsPutsP/C
Q3 2022$123.0k$221.0k1.80
Q4 2022$270.8k$239.4k0.88
Q1 2023$49.4k$150.6k3.05
Q2 2023$10.9m$1.8m0.17

Biggest buyers

BlackRock Inc. Added +8,751,694+8.8m
Stonepine Capital Management, LLC New +4,605,263+4.6m
MILLENNIUM MANAGEMENT LLC Added +4,371,397+4.4m
ADAGE CAPITAL PARTNERS GP, L.L.C. New +4,276,315+4.3m
Bain Capital Life Sciences Investors, LLC Added +3,758,078+3.8m
VANGUARD GROUP INC Added +3,442,829+3.4m
NEA Management Company, LLC Added +3,250,000+3.2m
CITADEL ADVISORS LLC Added +3,055,738+3.1m
ARMISTICE CAPITAL, LLC New +2,976,000+3.0m
CVI Holdings, LLC New +2,300,315+2.3m

Biggest sellers

Cormorant Asset Management, LP Sold out -1,628,980-1.6m
PERCEPTIVE ADVISORS LLC Reduced -1,000,000-1.0m
AXA S.A. Reduced -971,480-971.5k
Ghost Tree Capital, LLC Sold out -850,000-850.0k
JPMORGAN CHASE & CO Reduced -530,584-530.6k
SCOGGIN MANAGEMENT LP Sold out -484,796-484.8k
Lynwood Capital Management Inc. Reduced -375,000-375.0k
Virtu Financial LLC Reduced -98,412-98.4k
UBS Group AG Reduced -97,475-97.5k
XTX Topco Ltd Sold out -96,649-96.6k

Biggest calls

Polar Capital Holdings Plc New $9.7m5.0m shares
CITADEL ADVISORS LLC Added $411.3k212.0k shares
GROUP ONE TRADING LLC Added $349.6k180.2k shares
JANE STREET GROUP, LLC New $167.8k86.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $161.2k83.1k shares
WOLVERINE TRADING, LLC New $102.1k55.2k shares
SIMPLEX TRADING, LLC Added $21.0k11.1k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares
FNY Investment Advisers, LLC New $03 shares

Biggest puts

GROUP ONE TRADING LLC Added $855.0k440.7k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $363.9k187.6k shares
CITADEL ADVISORS LLC Added $357.0k184.0k shares
SIMPLEX TRADING, LLC Added $192.0k99.4k shares
JANE STREET GROUP, LLC New $66.3k34.2k shares
Belvedere Trading LLC New $15.5k8.0k 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.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Bain Capital Life Sciences Investors, LLC 3.19% of their portfolio Boston, MA 15,960,58816.0m $31.0m $31.0m 3.19% Added +3.8m +3,758,078
2 NEA Management Company, LLC 2.22% of their portfolio TIMONIUM, MD 14,986,79315.0m $29.1m $29.1m 2.22% Added +3.2m +3,250,000
3 BlackRock Inc. 0.00% of their portfolio New York, NY 9,095,2749.1m $17.6m $17.6m 0.00% Added +8.8m +8,751,694
4 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 7,787,1407.8m $15.1m $15.1m 0.00% Added +3.4m +3,442,829
5 ORBIMED ADVISORS LLC 0.25% of their portfolio New York, NY 7,133,5157.1m $13.8m $13.8m 0.25% Added +1.3m +1,315,789
6 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 5,451,6105.5m $10.6m $10.6m 0.01% Added +4.4m +4,371,397
7 Stonepine Capital Management, LLC 3.22% of their portfolio Bend, OR 4,605,2634.6m $8.9m $8.9m 3.22% New
8 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.02% of their portfolio Boston, MA 4,276,3154.3m $8.3m $8.3m 0.02% New
9 Tri Locum Partners LP 2.96% of their portfolio NEW YORK, NY 4,099,9434.1m $8.0m $8.0m 2.96% Added +221.5k +221,459
10 Parkman Healthcare Partners LLC 1.27% of their portfolio STAMFORD, CT 3,766,5933.8m $7.3m $7.3m 1.27% Added +969.4k +969,446
11 PERCEPTIVE ADVISORS LLC 0.20% of their portfolio NEW YORK, NY 3,545,4543.5m $6.9m $6.9m 0.20% Reduced -1.0m -1,000,000
12 AXA S.A. 0.02% of their portfolio PARIS, I0 3,424,9883.4m $6.6m $6.6m 0.02% Reduced -971.5k -971,480
13 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 3,073,6993.1m $6.0m $6.0m 0.01% Added +3.1m +3,055,738
14 ARMISTICE CAPITAL, LLC 0.14% of their portfolio NEW YORK, NY 2,976,0003.0m $5.8m $5.8m 0.14% New
15 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 2,350,2102.4m $4.6m $4.6m 0.00% Added +1.2m +1,241,526
16 CVI Holdings, LLC 4.72% of their portfolio WILMINGTON, DE 2,300,3152.3m $4.5m $4.5m 4.72% New
17 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 2,219,5832.2m $4.3m $4.3m 0.00% Added +2.0m +2,048,950
18 KINGDON CAPITAL MANAGEMENT, L.L.C. 0.67% of their portfolio NEW YORK, NY 1,973,6832.0m $3.8m $3.8m 0.67% New
19 Sio Capital Management, LLC 1.20% of their portfolio NEW YORK, NY 1,749,0031.7m $3.4m $3.4m 1.20% New
20 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 1,051,9041.1m $2.0m $2.0m 0.00% Added +827.4k +827,434
21 Schonfeld Strategic Advisors LLC 0.02% of their portfolio NEW YORK, NY 983,700983.7k $1.9m $1.9m 0.02% Reduced -53.3k -53,300
22 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 704,351704.4k $1.4m $1.4m 0.00% New
23 Point72 Asset Management, L.P. 0.00% of their portfolio STAMFORD, CT 650,000650.0k $1.3m $1.3m 0.00% Unchanged
24 Monashee Investment Management LLC 0.27% of their portfolio Boston, MA 572,784572.8k $1.1m $1.1m 0.27% New
25 Informed Momentum Co LLC 0.20% of their portfolio SOLANA BEACH, CA 567,801567.8k $1.1m $1.1m 0.20% New
26 Lynwood Capital Management Inc. 1.29% of their portfolio TORONTO, A6 525,000525.0k $1.0m $1.0m 1.29% Reduced -375.0k -375,000
27 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 478,229478.2k $927.8k $927.8k 0.00% Added +307.0k +307,036
28 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 472,533472.5k $916.7k $916.7k 0.00% Added +456.5k +456,489
29 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.02% of their portfolio CHICAGO, IL 450,000450.0k $873.0k $873.0k 0.02% Not comparable
30 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 438,114438.1k $849.9k $849.9k 0.00% New
31 Simplify Asset Management Inc. 0.14% of their portfolio Las Vegas, NV 400,000400.0k $776.0k $776.0k 0.14% Unchanged
32 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 359,059359.1k $696.6k $696.6k 0.00% Added +337.5k +337,491
33 Ikarian Capital, LLC 0.23% of their portfolio DALLAS, TX 349,133349.1k $677.3k $677.3k 0.23% Unchanged
34 New Leaf Venture Partners, L.L.C. 0.56% of their portfolio New York, NY 335,000335.0k $649.9k $649.9k 0.56% Unchanged
35 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 334,441334.4k $648.8k $648.8k 0.00% Added +251.0k +250,959
36 GROUP ONE TRADING LLC 0.03% of their portfolio CHICAGO, IL 325,922325.9k $632.3k $632.3k 0.03% Added +295.6k +295,614
37 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 323,843323.8k $628.3k $628.3k 0.00% Added +281.5k +281,457
38 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 241,437241.4k $468.4k $468.4k 0.00% Reduced -41.1k -41,110
39 SIMPLEX TRADING, LLC 0.02% of their portfolio CHICAGO, IL 226,566226.6k $439.0k $439.0k 0.02% Added +193.8k +193,778
40 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 198,844198.8k $385.8k $385.8k 0.00% Added +122.6k +122,639
41 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 153,922153.9k $298.6k $298.6k 0.00% New
42 Total Clarity Wealth Management, Inc. 0.14% of their portfolio ST. CHARLES, IL 145,531145.5k $282.3k $282.3k 0.14% Added +134.5k +134,531
43 Sassicaia Capital Advisers LLC 0.23% of their portfolio JERICHO, NY 138,000138.0k $267.7k $267.7k 0.23% New
44 AWM Investment Company, Inc. 0.03% of their portfolio NEW YORK, NY 100,000100.0k $194.0k $194.0k 0.03% New
45 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 95,46395.5k $185.2k $185.2k 0.00% Reduced -530.6k -530,584
46 CIBC Private Wealth Group LLC 0.00% of their portfolio ATLANTA, GA 90,00090.0k $174.6k $174.6k 0.00% Added +7.0k +7,000
47 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 87,87987.9k $170.5k $170.5k 0.00% New
48 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 81,31581.3k $157.8k $157.8k 0.00% Reduced -12.2k -12,182
49 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 71,55871.6k $138.8k $138.8k 0.00% Added +41.6k +41,613
50 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 65,42165.4k $126.9k $126.9k 0.00% New
51 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 65,40065.4k $126.9k $126.9k 0.00% New
52 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 61,22761.2k $118.8k $118.8k 0.00% New
53 AMERICAN INTERNATIONAL GROUP, INC. 0.00% of their portfolio New York, NY 59,26159.3k $115.0k $115.0k 0.00% New
54 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 55,29655.3k $107.3k $107.3k 0.00% Reduced -4.0k -4,013
55 ROYCE & ASSOCIATES LP 0.00% of their portfolio New York, NY 53,49053.5k $103.8k $103.8k 0.00% New
56 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 51,69051.7k $100.3k $100.3k 0.00% New
57 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 50,60050.6k $98.2k $98.2k 0.00% New
58 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 49,26049.3k $95.6k $95.6k 0.00% New
59 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 49,05049.0k $95.2k $95.2k 0.00% Added +48.3k +48,297
60 Vontobel Holding Ltd. 0.00% of their portfolio ZURICH, V8 45,00045.0k $87.3k $87.3k 0.00% New
61 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 44,83844.8k $87.0k $87.0k 0.00% New
62 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 40,95641.0k $79.5k $79.5k 0.00% New
63 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 36,66636.7k $71.1k $71.1k 0.00% New
64 BOOTHBAY FUND MANAGEMENT, LLC 0.00% of their portfolio NEW YORK, NY 36,07836.1k $70.0k $70.0k 0.00% Unchanged
65 STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio TALLAHASSEE, FL 34,95035.0k $67.8k $67.8k 0.00% New
66 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 32,12732.1k $62.3k $62.3k 0.00% Added +32.1k +32,120
67 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 30,35030.4k $58.9k $58.9k 0.00% Unchanged
68 Belvedere Trading LLC 0.02% of their portfolio CHICAGO, IL 28,77128.8k $55.8k $55.8k 0.02% New
69 OneDigital Investment Advisors LLC 0.00% of their portfolio OVERLAND PARK, KS 25,15025.1k $48.8k $48.8k 0.00% New
70 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 25,00525.0k $49.0k $49.0k 0.00% New
71 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 23,80023.8k $46.2k $46.2k 0.00% New
72 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 22,50022.5k $44.0k $44.0k 0.00% Unchanged
73 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 19,80019.8k $38.4k $38.4k 0.00% New
74 Bleichroeder LP 0.01% of their portfolio NEW YORK, NY 17,86517.9k $34.7k $34.7k 0.01% Reduced -17.9k -17,865
75 FMR LLC 0.00% of their portfolio BOSTON, MA 17,13217.1k $33.2k $33.2k 0.00% Added +17.1k +17,126
76 ProShare Advisors LLC 0.00% of their portfolio BETHESDA, MD 16,01316.0k $31.1k $31.1k 0.00% New
77 LexAurum Advisors, LLC 0.01% of their portfolio OVERLAND PARK, KS 16,00016.0k $31.0k $31.0k 0.01% Unchanged
78 AMALGAMATED BANK 0.00% of their portfolio NEW YORK, NY 15,32115.3k $30.0k $30.0k 0.00% New
79 Virtu Financial LLC 0.00% of their portfolio New York, NY 15,07715.1k $29.0k $29.0k 0.00% Reduced -98.4k -98,412
80 GRIMES & Co WEALTH MANAGEMENT, LLC 0.00% of their portfolio WESTBOROUGH, MA 15,00015.0k $29.1k $29.1k 0.00% New
81 MISSION WEALTH MANAGEMENT, LP 0.00% of their portfolio Santa Barbara, CA 15,00015.0k $29.1k $29.1k 0.00% Unchanged
82 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 13,80413.8k $26.8k $26.8k 0.00% New
83 Legal & General Group Plc 0.00% of their portfolio London, X0 13,40013.4k $26.0k $26.0k 0.00% New
84 Veritable, L.P. 0.00% of their portfolio Newtown Square, PA 12,63712.6k $24.5k $24.5k 0.00% Unchanged
85 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 11,41311.4k $22.1k $22.1k 0.00% New
86 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 10,24310.2k $20.0k $20.0k 0.00% New
87 Ameritas Investment Partners, Inc. 0.00% of their portfolio LINCOLN, NE 10,16710.2k $19.7k $19.7k 0.00% New
88 1620 INVESTMENT ADVISORS, INC. 0.02% of their portfolio PLYMOUTH, MA 10,00010.0k $19.4k $19.4k 0.02% New
89 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 8,5208.5k $7.0k $7.0k 0.00% Unchanged
90 Metropolitan Life Insurance Co/NY 0.00% of their portfolio New York, NY 6,7796.8k $13.2k $13.2k 0.00% New
91 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 5,8215.8k $11.3k $11.3k 0.00% Added +5.0k +5,011
92 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 4,0004.0k $7.8k $7.8k 0.00% Unchanged
93 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,5252.5k $4.9k $4.9k 0.00% Reduced -97.5k -97,475
94 Clearstead Advisors, LLC 0.00% of their portfolio CLEVELAND, OH 2,1002.1k $4.1k $4.1k 0.00% Unchanged
95 ICA Group Wealth Management, LLC 0.00% of their portfolio DENVER, CO 1,3501.4k $2.6k $2.6k 0.00% New
96 Cubist Systematic Strategies, LLC 0.00% of their portfolio STAMFORD, CT 11 $2 $2 0.00% New
97 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged