Vault-13

AVADEL PHARMACEUTICALS PLC AVDL

COM SHS · Common Stock · CUSIP G29687103

173 institutional holders -2 vs Q1 2025
80,748,67580.7m shares reported held*
$713.8mreported value*
27 new 69 added 52 reduced 28 sold out net bought ≈ $32.7m (+3.8m 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 ($2.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $8.84. Options: 8 managers hold calls ($2.2m notional), 6 hold puts ($3.9m).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q1 23: 1Q2 23: 0Q3 23: 0Q4 23: 0Q1 24: 7Q2 24: 146Q3 24: 172Q4 24: 158Q1 25: 175Q2 25: 173173Q1 23Q3 23Q1 24Q3 24Q1 25Q2 25
Numbers
QuarterHolders
Q1 20231
Q2 20230
Q3 20230
Q4 20230
Q1 20247
Q2 2024146
Q3 2024172
Q4 2024158
Q1 2025175
Q2 2025173

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 23: 0 bought or addedQ2 23: 1 cut or sold outQ2 23Q2 24: 139 bought or addedQ2 24: 4 cut or sold outQ2 24Q3 24: 102 bought or addedQ3 24: 64 cut or sold outQ3 24Q4 24: 89 bought or addedQ4 24: 78 cut or sold outQ4 24Q1 25: 102 bought or addedQ1 25: 69 cut or sold outQ1 25Q2 25: 96 bought or addedQ2 25: 80 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q2 202301
Q2 20241394
Q3 202410264
Q4 20248978
Q1 202510269
Q2 20259680

Calls vs puts

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

CallsPuts
$0$20m$40m$60mQ3 24 calls: $35.8mQ3 24 puts: $48.9mQ3 24P/C 1.36Q4 24 calls: $24.7mQ4 24 puts: $12.9mQ4 24P/C 0.52Q1 25 calls: $2.3mQ1 25 puts: $4.0mQ1 25P/C 1.77Q2 25 calls: $2.2mQ2 25 puts: $3.9mQ2 25P/C 1.76
Numbers
QuarterCallsPutsP/C
Q3 2024$35.8m$48.9m1.36
Q4 2024$24.7m$12.9m0.52
Q1 2025$2.3m$4.0m1.77
Q2 2025$2.2m$3.9m1.76

Biggest buyers

VANGUARD GROUP INC Added +1,659,609+1.7m
BlackRock, Inc. Added +1,349,873+1.3m
Two Seas Capital LP Added +1,208,625+1.2m
Tri Locum Partners LP New +1,014,456+1.0m
GEODE CAPITAL MANAGEMENT, LLC Added +979,422+979.4k
BRANDES INVESTMENT PARTNERS, LP Added +820,467+820.5k
Invesco Ltd. Added +699,201+699.2k
Invenomic Capital Management LP Added +574,968+575.0k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Added +560,007+560.0k
STATE STREET CORP Added +412,103+412.1k

Biggest sellers

JANUS HENDERSON GROUP PLC Reduced -2,460,203-2.5m
BANK OF AMERICA CORP /DE/ Reduced -973,857-973.9k
GENDELL JEFFREY L Reduced -950,545-950.5k
CITADEL ADVISORS LLC Reduced -716,693-716.7k
UBS Group AG Reduced -419,393-419.4k
Altium Capital Management LLC Sold out -419,131-419.1k
Polar Capital Holdings Plc Reduced -356,626-356.6k
MARSHALL WACE, LLP Sold out -314,343-314.3k
GOLDMAN SACHS GROUP INC Reduced -306,585-306.6k
SAMSARA BIOCAPITAL, LLC Reduced -292,023-292.0k

Biggest calls

GROUP ONE TRADING LLC Added $1.1m127.8k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $361.1k40.8k shares
IMC-Chicago, LLC Reduced $323.0k36.5k shares
Point72 Asset Management, L.P. Unchanged $178.8k20.2k shares
J. Goldman & Co LP New $126.6k14.3k shares
Walleye Capital LLC Reduced $69.9k7.9k shares
MAI Capital Management Unchanged $26.6k3.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.8m207.0k shares
CITADEL ADVISORS LLC Added $1.6m177.0k shares
IMC-Chicago, LLC Reduced $264.6k29.9k shares
GROUP ONE TRADING LLC Reduced $145.1k16.4k shares
D. E. Shaw & Co., Inc. Unchanged $102.7k11.6k 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 filed 2025-07-16 7.0% 6.7m 2025-07-16
VANGUARD GROUP INC 13G · institution no change · filed 2025-07-29 5.7% no change 5.6m 2025-07-29

Fell to 5% or below in the last year: JANUS HENDERSON GROUP PLC (1.9%, 2026-02-17), Two Seas Capital LP (0.0%, 2026-02-17), BRANDES INVESTMENT PARTNERS, LP (0.2%, 2026-02-12)

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 JANUS HENDERSON GROUP PLC 0.05% of their portfolio LONDON, X0 11,132,13111.1m $98.5m $98.5m 0.05% Reduced -2.5m -2,460,203
2 BlackRock, Inc. 0.00% of their portfolio New York, NY 6,803,3996.8m $60.2m $60.2m 0.00% Added +1.3m +1,349,873
3 BRANDES INVESTMENT PARTNERS, LP 0.52% of their portfolio LA JOLLA, CA 6,487,6426.5m $57.4m $57.4m 0.52% Added +820.5k +820,467
4 Two Seas Capital LP 5.34% of their portfolio RYE, NY 6,155,0746.2m $54.5m $54.5m 5.34% Added +1.2m +1,208,625
5 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 5,564,2595.6m $49.2m $49.2m 0.00% Added +1.7m +1,659,609
6 GENDELL JEFFREY L 1.22% of their portfolio Greenwich, CT 5,176,6115.2m $45.8m $45.8m 1.22% Reduced -950.5k -950,545
7 Polar Capital Holdings Plc 0.19% of their portfolio London, X0 3,999,3384.0m $35.4m $35.4m 0.19% Reduced -356.6k -356,626
8 Vivo Capital, LLC 2.43% of their portfolio Palo Alto, CA 2,684,1092.7m $23.8m $23.8m 2.43% Unchanged
9 WEALTH EFFECTS LLC 7.80% of their portfolio BOSTON, MA 2,354,8222.4m $20.8m $20.8m 7.80% Reduced -14.3k -14,300
10 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 2,169,0182.2m $19.2m $19.2m 0.00% Added +979.4k +979,422
11 TANG CAPITAL MANAGEMENT LLC 0.94% of their portfolio SAN DIEGO, CA 2,097,5002.1m $18.6m $18.6m 0.94% Unchanged
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 2,071,4092.1m $18.3m $18.3m 0.00% Added +412.1k +412,103
13 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 1,528,3171.5m $13.5m $13.5m 0.01% Reduced -716.7k -716,693
14 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,192,6061.2m $10.6m $10.6m 0.00% Added +158.0k +157,992
15 Tri Locum Partners LP 2.72% of their portfolio NEW YORK, NY 1,014,4561.0m $9.0m $9.0m 2.72% New
16 KENNEDY CAPITAL MANAGEMENT LLC 0.21% of their portfolio ST LOUIS, MO 981,271981.3k $8.7m $8.7m 0.21% Added +227.2k +227,228
17 Krensavage Asset Management, LLC 4.49% of their portfolio NEW YORK, NY 958,877958.9k $8.5m $8.5m 4.49% Added +8.9k +8,877
18 Woodline Partners LP 0.04% of their portfolio San Francisco, CA 897,086897.1k $7.9m $7.9m 0.04% Added +225 +225
19 UBS Group AG 0.00% of their portfolio ZURICH, V8 875,239875.2k $7.7m $7.7m 0.00% Reduced -419.4k -419,393
20 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 839,117839.1k $7.4m $7.4m 0.00% Added +199.3k +199,251
21 Invenomic Capital Management LP 0.40% of their portfolio BOSTON, MA 802,994803.0k $7.1m $7.1m 0.40% Added +575.0k +574,968
22 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 786,446786.4k $7.0m $7.0m 0.00% Added +560.0k +560,007
23 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 748,875748.9k $6.6m $6.6m 0.00% Added +699.2k +699,201
24 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 703,282703.3k $6.2m $6.2m 0.00% Added +198.5k +198,492
25 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 678,116678.1k $6.0m $6.0m 0.00% Added +1.5k +1,484
26 SAMSARA BIOCAPITAL, LLC 1.22% of their portfolio PALO ALTO, CA 675,504675.5k $6.0m $6.0m 1.22% Reduced -292.0k -292,023
27 Modera Wealth Management, LLC 0.06% of their portfolio WESTWOOD, NJ 558,972559.0k $4.9m $4.9m 0.06% Reduced -5 -5
28 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 520,476520.5k $4.6m $4.6m 0.01% Added +240.6k +240,599
29 Trexquant Investment LP 0.05% of their portfolio STAMFORD, CT 483,400483.4k $4.3m $4.3m 0.05% Added +354.2k +354,221
30 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 437,555437.6k $3.9m $3.9m 0.00% Reduced -57.1k -57,123
31 Knott David M Jr 1.71% of their portfolio SYOSSET, NY 426,000426.0k $3.8m $3.8m 1.71% Unchanged
32 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 421,284421.3k $3.7m $3.7m 0.00% Reduced -306.6k -306,585
33 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 403,833403.8k $3.6m $3.6m 0.00% Added +28.6k +28,592
34 AWM Investment Company, Inc. 0.31% of their portfolio NEW YORK, NY 316,189316.2k $2.8m $2.8m 0.31% Added +275.2k +275,189
35 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 296,023296.0k $2.6m $2.6m 0.00% Reduced -221.9k -221,916
36 DARK FOREST CAPITAL MANAGEMENT LP 0.10% of their portfolio NEW YORK, NY 295,136295.1k $2.6m $2.6m 0.10% Added +115.7k +115,699
37 Cubist Systematic Strategies, LLC 0.03% of their portfolio STAMFORD, CT 273,736273.7k $2.4m $2.4m 0.03% Added +123.3k +123,285
38 Caption Management, LLC 0.21% of their portfolio OKLAHOMA CITY, OK 264,910264.9k $2.3m $2.3m 0.21% Unchanged
39 J. Goldman & Co LP 0.07% of their portfolio NEW YORK, NY 263,363263.4k $2.3m $2.3m 0.07% Added +47.4k +47,363
40 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 256,736256.7k $2.3m $2.3m 0.00% Added +176.9k +176,886
41 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 253,600253.6k $2.2m $2.2m 0.00% Reduced -87.4k -87,400
42 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 251,839251.8k $2.2m $2.2m 0.00% Added +17.7k +17,719
43 IRIDIAN ASSET MANAGEMENT LLC/CT 0.77% of their portfolio WESTPORT, CT 249,586249.6k $2.2m $2.2m 0.77% Unchanged
44 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 223,038223.0k $2.0m $2.0m 0.00% Reduced -2.1k -2,130
45 National Philanthropic Trust 0.03% of their portfolio Jenkintown, PA 219,296219.3k $1.9m $1.9m 0.03% Unchanged
46 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 207,378207.4k $1.8m $1.8m 0.01% Added +13.1k +13,072
47 Point72 Asset Management, L.P. 0.00% of their portfolio STAMFORD, CT 202,815202.8k $1.8m $1.8m 0.00% Added +97.7k +97,730
48 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 182,858182.9k $1.6m $1.6m 0.00% Reduced -152.1k -152,067
49 Swiss National Bank 0.00% of their portfolio ZURICH, V8 168,000168.0k $1.5m $1.5m 0.00% Unchanged
50 FMR LLC 0.00% of their portfolio BOSTON, MA 145,737145.7k $1.3m $1.3m 0.00% Reduced -75.6k -75,611
51 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 144,233144.2k $1.3m $1.3m 0.00% Reduced -973.9k -973,857
52 Jump Financial, LLC 0.02% of their portfolio Chicago, IL 138,954139.0k $1.2m $1.2m 0.02% New
53 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 134,221134.2k $1.2m $1.2m 0.00% Reduced -131.9k -131,864
54 INVESTORS ASSET MANAGEMENT OF GEORGIA INC /GA/ /ADV 0.54% of their portfolio ATLANTA, GA 133,075133.1k $1.2m $1.2m 0.54% Reduced -6.9k -6,900
55 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 131,978132.0k $1.2m $1.2m 0.00% Added +5.0k +4,951
56 SILVERBACK ASSET MANAGEMENT LLC 0.18% of their portfolio DURHAM, NC 130,000130.0k $1.2m $1.2m 0.18% New
57 Legal & General Group Plc 0.00% of their portfolio London, X0 123,538123.5k $1.1m $1.1m 0.00% Added +39.2k +39,223
58 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 119,957120.0k $1.1m $1.1m 0.00% New
59 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 114,380114.4k $1.0m $1.0m 0.00% Added +9.8k +9,815
60 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 111,889111.9k $990.2k $990.2k 0.00% Reduced -4.1k -4,085
61 Lion Point Capital, LP 5.93% of their portfolio NEW YORK, NY 98,70098.7k $873.5k $873.5k 5.93% Unchanged
62 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 97,03897.0k $48.9k $48.9k 0.00% Added +13.9k +13,903
63 AVANTAX ADVISORY SERVICES, INC. 0.00% of their portfolio DALLAS, TX 96,90196.9k $857.6k $857.6k 0.00% Reduced -125.8k -125,832
64 Y-Intercept (Hong Kong) Ltd 0.02% of their portfolio HONG KONG, K3 95,85095.8k $848.3k $848.3k 0.02% New
65 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 91,44491.4k $809.3k $809.3k 0.00% Added +7.3k +7,303
66 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 84,51984.5k $748.0k $748.0k 0.00% New
67 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 80,25280.3k $710.2k $710.2k 0.00% Reduced -1.2k -1,196
68 LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio LOS ANGELES, CA 79,11479.1k $700.2k $700.2k 0.00% New
69 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 77,95578.0k $689.9k $689.9k 0.00% Added +12.2k +12,222
70 Diametric Capital, LP 0.37% of their portfolio BOSTON, MA 77,52377.5k $686.1k $686.1k 0.37% Added +18.6k +18,590
71 Walleye Capital LLC 0.01% of their portfolio NEW YORK, NY 71,87171.9k $636.1k $636.1k 0.01% Added +71.4k +71,449
72 GSA CAPITAL PARTNERS LLP 0.04% of their portfolio LONDON, X0 70,40870.4k $623.0k $623.0k 0.04% Added +55.8k +55,804
73 Summit Financial, LLC 0.01% of their portfolio PARSIPPANY, NJ 69,23269.2k $612.7k $612.7k 0.01% New
74 OPPENHEIMER & CO INC 0.01% of their portfolio NEW YORK, NY 66,55466.6k $589.0k $589.0k 0.01% Reduced -1.4k -1,355
75 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 58,46658.5k $517.4k $517.4k 0.00% Reduced -7.8k -7,824
76 Man Group plc 0.00% of their portfolio LONDON, X0 57,93157.9k $512.7k $512.7k 0.00% Added +29.1k +29,149
77 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 55,96156.0k $495.3k $495.3k 0.00% Unchanged
78 Hennion & Walsh Asset Management, Inc. 0.02% of their portfolio Parsippany, NJ 50,33650.3k $445.5k $445.5k 0.02% New
79 Gotham Asset Management, LLC 0.00% of their portfolio NEW YORK, NY 50,11250.1k $443.5k $443.5k 0.00% Reduced -6.3k -6,285
80 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 49,03749.0k $434.0k $434.0k 0.00% Reduced -509 -509
81 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 48,95049.0k $433.2k $433.2k 0.00% Reduced -5.9k -5,935
82 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 44,74344.7k $396.0k $396.0k 0.00% Added +4.4k +4,393
83 Jackson Creek Investment Advisors LLC 0.11% of their portfolio CASTLE ROCK, CO 44,23044.2k $391.0k $391.0k 0.11% New
84 HAP Trading, LLC 0.16% of their portfolio NEW YORK, NY 42,83242.8k $379.1k $379.1k 0.16% Added +7.0k +6,986
85 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 40,63740.6k $359.6k $359.6k 0.00% Reduced -33.1k -33,135
86 OMERS ADMINISTRATION Corp 0.00% of their portfolio TORONTO, A6 39,00039.0k $345.1k $345.1k 0.00% Unchanged
87 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 38,93938.9k $344.6k $344.6k 0.00% Added +3.3k +3,277
88 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 38,58738.6k $341.5k $341.5k 0.00% Reduced -2.8k -2,792
89 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 38,30638.3k $339.0k $339.0k 0.00% New
90 Quarry LP 0.08% of their portfolio NEW YORK, NY 38,30038.3k $339.0k $339.0k 0.08% Added +26.3k +26,300
91 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 37,70737.7k $333.7k $333.7k 0.00% Unchanged
92 Mach-1 Financial Group, LLC 0.10% of their portfolio Rogers, AR 37,06737.1k $328.0k $328.0k 0.10% New
93 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 35,62135.6k $315.2k $315.2k 0.00% New
94 King Wealth Management Group 0.04% of their portfolio SARATOGA SPRINGS, NY 35,00035.0k $310.0k $310.0k 0.04% Unchanged
95 Handelsbanken Fonder AB 0.00% of their portfolio STOCKHOLM, V7 34,10034.1k $302.0k $302.0k 0.00% New
96 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 30,70030.7k $271.7k $271.7k 0.00% Added +20.0k +20,000
97 PRELUDE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 30,33130.3k $268.4k $268.4k 0.03% Added +7.3k +7,253
98 Quinn Opportunity Partners LLC 0.02% of their portfolio CHARLOTTESVILLE, VA 30,10030.1k $266.4k $266.4k 0.02% Unchanged
99 Engineers Gate Manager LP 0.00% of their portfolio NEW YORK, NY 29,69929.7k $262.8k $262.8k 0.00% Reduced -27.8k -27,778
100 Bridgefront Capital, LLC 0.06% of their portfolio AUSTIN, TX 27,46427.5k $243.1k $243.1k 0.06% New