HERBALIFE LTD HLF
COM SHS · Common Stock · CUSIP G4412G101 · ISIN KYG4412G1010
American based multi-level marketing company
- SectorHealth care
- IndustryWholesale-Drugs, Proprietaries & Druggists' Sundries
- HeadquartersLos Angeles, United States
- Founded1980
- Websiteherbalife.com
- FilingsSEC EDGAR
* 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 ($599.7k this quarter). Holder counts are more reliable. Shares outstanding: 103.7m as of 2026-04-29, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $14.72. Options: 15 managers hold calls ($134.9m notional), 11 hold puts ($49.7m).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 201 |
| Q4 2022 | 218 |
| Q1 2023 | 212 |
| Q2 2023 | 193 |
| Q3 2023 | 199 |
| Q4 2023 | 198 |
| Q1 2024 | 186 |
| Q2 2024 | 182 |
| Q3 2024 | 188 |
| Q4 2024 | 200 |
| Q1 2025 | 215 |
| Q2 2025 | 212 |
| Q3 2025 | 218 |
| Q4 2025 | 231 |
| Q1 2026 | 253 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 102 | 82 |
| Q3 2024 | 91 | 88 |
| Q4 2024 | 113 | 79 |
| Q1 2025 | 116 | 86 |
| Q2 2025 | 110 | 102 |
| Q3 2025 | 106 | 102 |
| Q4 2025 | 111 | 111 |
| Q1 2026 | 133 | 105 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $80.4m | $76.1m | 0.95 |
| Q3 2025 | $88.5m | $71.9m | 0.81 |
| Q4 2025 | $149.9m | $114.3m | 0.76 |
| Q1 2026 | $134.9m | $49.7m | 0.37 |
Biggest buyers
| FMR LLC | Added | +1.4m |
| Woodline Partners LP | New | +1.0m |
| GOLDMAN SACHS GROUP INC | Added | +684.9k |
| Penn Capital Management Company, LLC | Added | +652.8k |
| Pacer Advisors, Inc. | New | +644.8k |
| Nantahala Capital Management, LLC | Added | +471.8k |
| MILLENNIUM MANAGEMENT LLC | Added | +467.0k |
| NEW YORK STATE COMMON RETIREMENT FUND | Added | +445.9k |
| TWO SIGMA INVESTMENTS, LP | Added | +429.3k |
| DIMENSIONAL FUND ADVISORS LP | Added | +426.0k |
Biggest sellers
| TWO SIGMA ADVISERS, LP | Sold out | -932.5k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -796.4k |
| Invenomic Capital Management LP | Reduced | -678.3k |
| Long Focus Capital Management, LLC | Reduced | -600.8k |
| CITIGROUP INC | Reduced | -512.5k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | Sold out | -393.6k |
| Mitsubishi UFJ Trust & Banking Corp | Reduced | -376.3k |
| Manatuck Hill Partners, LLC | Reduced | -340.0k |
| Quantedge Capital Pte Ltd | Reduced | -328.0k |
| JANE STREET GROUP, LLC | Reduced | -319.1k |
Biggest calls
| Nantahala Capital Management, LLC | Reduced | $82.4m5.6m shares |
| CITADEL ADVISORS LLC | Added | $12.4m843.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $9.8m664.5k shares |
| Lombard Odier Asset Management (USA) Corp | Unchanged | $5.9m402.5k shares |
| Caption Management, LLC | Added | $5.9m400.0k shares |
| IMC-Chicago, LLC | Added | $5.3m363.3k shares |
| JANE STREET GROUP, LLC | Added | $3.7m250.5k shares |
| CITIGROUP INC | Reduced | $2.9m200.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $2.5m168.7k shares |
| GROUP ONE TRADING LLC | Reduced | $2.2m147.9k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $31.2m2.1m shares |
| CITIGROUP INC | Reduced | $5.2m350.0k shares |
| JANE STREET GROUP, LLC | Reduced | $4.0m274.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.6m175.9k shares |
| GROUP ONE TRADING LLC | Reduced | $2.6m174.2k shares |
| IMC-Chicago, LLC | Reduced | $1.8m122.7k shares |
| TWO SIGMA INVESTMENTS, LP | Added | $1.2m79.6k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.0m68.1k shares |
| Walleye Trading LLC | Reduced | $97.2k6.6k shares |
| Walleye Capital LLC | Reduced | $94.2k6.4k 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.
| Holder | Stake |
|---|---|
| BAUPOST GROUP LLC/MA 13G · institution filed 2025-02-13 | 8.5% |
| Route One Investment Company, L.P. 13G · institution +1.3 pts · filed 2025-10-06 | 7.3% |
| Nantahala Capital Management, LLC 13G · institution -1.7 pts · filed 2026-05-15 | 6.7% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.1% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-28 | 5.0% |
Fell to 5% or below in the last year: RENAISSANCE TECHNOLOGIES LLC (4.8%, 2026-08-13), FMR LLC (2.6%, 2026-08-06), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q1 2026
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)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2024 | 2 | $525.4k | 0 | — | — |
| Q3 2024 | 1 | $212.1k | 0 | — | — |
| Q4 2024 | 1 | $61.2k | 0 | — | — |
| Q1 2025 | 1 | $61.2k | 0 | — | — |
| Q2 2025 | 1 | $91.0k | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 2 | $167.9k | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
None reported in Q1 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| BAUPOST GROUP LLC/MA 2.66% of their portfolio | 9.3m $136.3m | Unchanged |
| Route One Investment Company, L.P. 5.30% of their portfolio | 8.2m $121.1m | Added +65.2k |
| BlackRock, Inc. 0.00% of their portfolio | 7.8m $115.1m | Added +22.9k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 6.1m $89.6m | First filing |
| RENAISSANCE TECHNOLOGIES LLC 0.13% of their portfolio | 5.5m $81.0m | Reduced -119.6k |
| FMR LLC 0.00% of their portfolio | 5.3m $77.5m | Added +1.4m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 4.4m $65.0m | First filing |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 3.1m $46.1m | Added +684.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.6m $38.7m | Added +50.8k |
| LSV ASSET MANAGEMENT 0.08% of their portfolio | 2.6m $38.7m | Reduced -85.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio | 2.6m $38.2m | Added +267.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 2.4m $36.0m | Reduced -284.2k |
| STATE STREET CORP 0.00% of their portfolio | 2.4m $35.6m | Added +11.2k |
| TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio | 2.2m $33.1m | Added +429.3k |
| Quantedge Capital Pte Ltd 15.47% of their portfolio | 1.9m $28.3m | Reduced -328.0k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.9m $27.6m | Added +426.0k |
| Solel Partners LP 5.86% of their portfolio | 1.9m $27.4m | Unchanged |
| Long Focus Capital Management, LLC 1.10% of their portfolio | 1.7m $25.0m | Reduced -600.8k |
| IRIDIAN ASSET MANAGEMENT LLC/CT 9.68% of their portfolio | 1.6m $23.9m | Reduced -214.8k |
| Nantahala Capital Management, LLC 1.24% of their portfolio | 1.4m $19.9m | Added +471.8k |
| CITIGROUP INC 0.01% of their portfolio | 1.2m $17.1m | Reduced -512.5k |
| Tenzing Global Management, LLC 12.82% of their portfolio | 1.1m $15.5m | Reduced -200.0k |
| Woodline Partners LP 0.06% of their portfolio | 1.0m $15.2m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 1.0m $14.9m | Added +10.0k |
| MORGAN STANLEY 0.00% of their portfolio | 944.3k $13.9m | Added +34.8k |
| Bronte Capital Management Pty Ltd. 1.49% of their portfolio | 939.9k $13.8m | Reduced -180.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 934.3k $13.8m | Added +29.9k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 700.7k $10.3m | First filing |
| Penn Capital Management Company, LLC 0.79% of their portfolio | 687.7k $10.1m | Added +652.8k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 687.2k $10.1m | Added +139.4k |
| Aristotle Capital Boston, LLC 0.63% of their portfolio | 681.9k $10.1m | Reduced -106.6k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 645.9k $9.5m | Added +82.6k |
| Pacer Advisors, Inc. 0.03% of their portfolio | 644.8k $9.5m | New |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 638.7k $9.4m | Added +467.0k |
| Invesco Ltd. 0.00% of their portfolio | 549.7k $8.1m | Added +35.8k |
| Manatuck Hill Partners, LLC 2.58% of their portfolio | 535.0k $7.9m | Reduced -340.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 478.1k $7.0m | Added +445.9k |
| Nuveen, LLC 0.00% of their portfolio | 462.2k $6.8m | Added +94.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 439.8k $6.5m | Reduced -796.4k |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 423.3k $6.2m | Reduced -188.9k |
| PANAGORA ASSET MANAGEMENT INC 0.02% of their portfolio | 419.7k $6.2m | New |
| Johnson Financial Group, LLC 0.41% of their portfolio | 414.6k $6.1m | Added +60 |
| Bank of New York Mellon Corp 0.00% of their portfolio | 413.7k $6.1m | Reduced -25.3k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 391.2k $5.8m | Added +54.8k |
| Parallax Volatility Advisers, L.P. 0.26% of their portfolio | 358.7k $5.9m | Reduced -53.2k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 357.3k $5.3m | Reduced -319.1k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 334.4k $4.9m | Added +75.9k |
| GROUP ONE TRADING LLC 0.16% of their portfolio | 333.1k $4.9m | Reduced -169.2k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 331.1k $4.9m | Added +43.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 325.8k $4.8m | Reduced -183.9k |
| Huber Capital Management LLC 0.74% of their portfolio | 325.7k $4.8m | Reduced -30.8k |
| Squarepoint Ops LLC 0.01% of their portfolio | 307.4k $4.5m | Added +139.7k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 305.2k $4.5m | Added +185.3k |
| CIBC Bancorp USA Inc. 0.01% of their portfolio | 287.8k $4.2m | First filing |
| Pekin Hardy Strauss, Inc. 0.44% of their portfolio | 285.0k $4.2m | Reduced -3.7k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 277.7k $4.1m | Added +91.7k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.07% of their portfolio | 275.7k $4.1m | Reduced -110.7k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 270.1k $4.0m | Added +49.9k |
| Q Global Advisors, LLC 3.69% of their portfolio | 260.8k $3.8m | Reduced -128.1k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 221.6k $3.3m | New |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 214.3k $3.2m | Reduced -112.0k |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 209.6k $3.1m | First filing |
| EVOKE WEALTH, LLC 0.06% of their portfolio | 204.5k $3.0m | Reduced -49 |
| Swiss National Bank 0.00% of their portfolio | 203.3k $3.0m | Unchanged |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 201.4k $3.0m | Added +121.5k |
| SteelPeak Wealth, LLC 0.09% of their portfolio | 200.0k $2.9m | Reduced -50.0k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio | 193.7k $2.9m | Reduced -9.6k |
| Bridgewater Associates, LP 0.01% of their portfolio | 193.2k $2.8m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 182.6k $2.7m | Added +6.6k |
| UBS Group AG 0.00% of their portfolio | 178.4k $2.6m | Added +29.5k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.01% of their portfolio | 175.9k $2.6m | Added +16.4k |
| WOLVERINE ASSET MANAGEMENT LLC 0.04% of their portfolio | 173.8k $2.6m | Reduced -51.3k |
| Caption Management, LLC 0.11% of their portfolio | 158.8k $2.3m | Added +114.1k |
| DARK FOREST CAPITAL MANAGEMENT LP 0.20% of their portfolio | 154.5k $2.3m | Reduced -84.4k |
| Mitsubishi UFJ Trust & Banking Corp 0.01% of their portfolio | 153.2k $2.3m | Reduced -376.3k |
| Informed Momentum Co LLC 0.26% of their portfolio | 152.7k $2.2m | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 151.1k $2.2m | Reduced -23.2k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 147.8k $2.2m | Reduced -63.0k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.01% of their portfolio | 147.0k $2.2m | Added +27.6k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.05% of their portfolio | 143.7k $2.1m | Added +79.5k |
| Inspire Investing, LLC 0.12% of their portfolio | 141.3k $2.1m | Added +105.2k |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 129.2k $1.9m | New |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 128.9k $1.9m | Reduced -4.1k |
| TUDOR INVESTMENT CORP ET AL 0.01% of their portfolio | 126.7k $1.9m | Reduced -18.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 122.9k $1.8m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 117.4k $1.7m | Added +24.3k |
| Susquehanna Portfolio Strategies, LLC 0.03% of their portfolio | 117.4k $1.7m | Added +48.8k |
| CenterBook Partners LP 0.09% of their portfolio | 113.9k $1.7m | New |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.00% of their portfolio | 112.0k $1.6m | Unchanged |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 111.8k $1.6m | Added +15.0k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 106.8k $1.6m | Reduced -1.5k |
| Jump Financial, LLC 0.02% of their portfolio | 100.3k $1.5m | New |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 100.0k $1.5m | New |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 97.7k $1.3m | Added +287 |
| Janney Montgomery Scott LLC 0.00% of their portfolio | 96.3k $1.4m | Added +2.4k |
| Invenomic Capital Management LP 0.06% of their portfolio | 89.8k $1.3m | Reduced -678.3k |
| Legal & General Group Plc 0.00% of their portfolio | 87.1k $1.3m | Reduced -28.7k |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.01% of their portfolio | 84.9k $1.3m | New |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 84.0k $1.2m | New |
| DGS Capital Management, LLC 0.20% of their portfolio | 82.3k $1.2m | Added +2.7k |