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 ($764.9k this quarter). Holder counts are more reliable. Shares outstanding: 104.8m as of 2026-07-29, 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 ≈ $13.15. Options: 16 managers hold calls ($256.2m notional), 9 hold puts ($46.8m).
Trends to Q2 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 |
| Q2 2026 | 234 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2026 | 128 | 115 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $88.5m | $71.9m | 0.81 |
| Q4 2025 | $149.9m | $114.3m | 0.76 |
| Q1 2026 | $134.9m | $49.7m | 0.37 |
| Q2 2026 | $256.2m | $46.8m | 0.18 |
Biggest buyers
| Solel Partners LP | Added | +987.5k |
| Nantahala Capital Management, LLC | Added | +864.7k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +836.6k |
| FIRST TRUST ADVISORS LP | Added | +750.9k |
| VICTORY CAPITAL MANAGEMENT INC | Added | +556.7k |
| BlackRock, Inc. | Added | +549.3k |
| Penn Capital Management Company, LLC | Added | +457.4k |
| IRIDIAN ASSET MANAGEMENT LLC/CT | Added | +456.7k |
| Qube Research & Technologies Ltd | Added | +403.4k |
| Trexquant Investment LP | Added | +355.2k |
Biggest sellers
| FMR LLC | Reduced | -2.7m |
| GOLDMAN SACHS GROUP INC | Reduced | -1.3m |
| Woodline Partners LP | Sold out | -1.0m |
| DEUTSCHE BANK AG\ | Reduced | -787.0k |
| Bronte Capital Management Pty Ltd. | Reduced | -616.5k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -475.3k |
| JANE STREET GROUP, LLC | Sold out | -357.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -334.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | Reduced | -327.6k |
| MARSHALL WACE, LLP | Sold out | -305.2k |
Biggest calls
| Nantahala Capital Management, LLC | Added | $173.6m13.2m shares |
| CITIGROUP INC | Added | $18.4m1.4m shares |
| Caption Management, LLC | Added | $15.8m1.2m shares |
| CITADEL ADVISORS LLC | Reduced | $11.0m838.2k shares |
| CANTOR FITZGERALD, L. P. | New | $10.3m786.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $7.1m542.3k shares |
| Lombard Odier Asset Management (USA) Corp | Unchanged | $5.3m402.5k shares |
| IMC-Chicago, LLC | Reduced | $4.6m352.0k shares |
| JANE STREET GROUP, LLC | Reduced | $3.1m235.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $2.0m154.9k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $28.8m2.2m shares |
| CITIGROUP INC | Unchanged | $4.6m350.0k shares |
| JANE STREET GROUP, LLC | Added | $3.8m290.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.6m273.6k shares |
| GROUP ONE TRADING LLC | Reduced | $2.2m169.7k shares |
| IMC-Chicago, LLC | Reduced | $1.4m103.7k shares |
| SIMPLEX TRADING, LLC | Added | $1.3m101.8k shares |
| TWO SIGMA INVESTMENTS, LP | Unchanged | $1.0m79.6k shares |
| WOLVERINE ASSET MANAGEMENT LLC | New | $23.7k1.8k 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 since 1 Apr 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q2 2026 | 1 | $13.6k | 2 | $2.6m | — |
| Q3 2026 | 0 | — | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-06-04 | L'Helias Sophie Director | Bought | $13.6k1.2k shares |
| 2026-05-19 | Hicks Troy Chief Operating Officer | Sold | $123.2k10.0k shares |
| 2026-05-18 | Hicks Troy Chief Operating Officer | Sold | $496.2k38.4k shares |
| 2026-05-12 | Lamberti Frank Chief Commercial Officer | Sold | $1.8m135.0k shares |
| 2026-05-11 | Lamberti Frank Chief Commercial Officer | Sold | $110.0k7.9k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BAUPOST GROUP LLC/MA 2.25% of their portfolio | 9.3m $121.8m | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 8.4m $110.1m | Added +549.3k |
| Route One Investment Company, L.P. 4.54% of their portfolio | 8.3m $109.8m | Added +121.5k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 6.2m $81.4m | Added +106.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.09% of their portfolio | 5.0m $66.1m | Reduced -475.3k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 4.4m $58.0m | Reduced -2.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 3.5m $45.6m | Added +836.6k |
| Solel Partners LP 6.36% of their portfolio | 2.8m $37.5m | Added +987.5k |
| LSV ASSET MANAGEMENT 0.06% of their portfolio | 2.6m $34.5m | Reduced -3.2k |
| STATE STREET CORP 0.00% of their portfolio | 2.5m $33.5m | Added +124.0k |
| FMR LLC 0.00% of their portfolio | 2.5m $33.2m | Reduced -2.7m |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 2.3m $30.7m | Added +91.6k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 2.3m $29.8m | Reduced -334.3k |
| Nantahala Capital Management, LLC 0.88% of their portfolio | 2.2m $29.2m | Added +864.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 2.1m $27.8m | Reduced -327.6k |
| IRIDIAN ASSET MANAGEMENT LLC/CT 9.39% of their portfolio | 2.1m $27.3m | Added +456.7k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 1.9m $24.8m | Added +7.6k |
| Quantedge Capital Pte Ltd 18.41% of their portfolio | 1.8m $24.3m | Reduced -75.8k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.8m $23.5m | Reduced -1.3m |
| Long Focus Capital Management, LLC 0.91% of their portfolio | 1.7m $22.3m | Unchanged |
| CITIGROUP INC 0.01% of their portfolio | 1.4m $18.2m | Added +218.9k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 1.2m $16.4m | Added +556.7k |
| Penn Capital Management Company, LLC 0.96% of their portfolio | 1.1m $15.1m | Added +457.4k |
| Tenzing Global Management, LLC 11.07% of their portfolio | 1.0m $13.2m | Reduced -50.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 980.1k $12.9m | Added +45.8k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 897.2k $11.8m | Added +251.3k |
| Pacer Advisors, Inc. 0.03% of their portfolio | 893.8k $11.8m | Added +249.0k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 775.6k $10.2m | Added +750.9k |
| MORGAN STANLEY 0.00% of their portfolio | 727.0k $9.6m | Reduced -217.3k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 686.3k $9.0m | Reduced -14.5k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 680.0k $8.9m | Added +201.9k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 625.0k $8.2m | Added +403.4k |
| Aristotle Capital Boston, LLC 0.50% of their portfolio | 567.8k $7.5m | Reduced -114.1k |
| PANAGORA ASSET MANAGEMENT INC 0.02% of their portfolio | 559.8k $7.4m | Added +140.2k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 487.3k $6.4m | Reduced -151.3k |
| Nuveen, LLC 0.00% of their portfolio | 470.0k $6.2m | Added +7.8k |
| Invesco Ltd. 0.00% of their portfolio | 462.5k $6.1m | Reduced -87.3k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 461.3k $5.9m | Added +310.2k |
| Manatuck Hill Partners, LLC 2.00% of their portfolio | 459.3k $6.0m | Reduced -75.7k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 444.3k $5.8m | Added +30.6k |
| Squarepoint Ops LLC 0.01% of their portfolio | 428.4k $5.6m | Added +121.0k |
| CIBC Bancorp USA Inc. 0.01% of their portfolio | 427.1k $5.6m | Added +139.3k |
| Johnson Financial Group, LLC 0.29% of their portfolio | 414.6k $5.5m | Added +30 |
| Q Global Advisors, LLC 3.61% of their portfolio | 405.3k $5.3m | Added +144.5k |
| Trexquant Investment LP 0.03% of their portfolio | 400.4k $5.3m | Added +355.2k |
| ALGERT GLOBAL LLC 0.06% of their portfolio | 400.3k $5.3m | Added +326.4k |
| Huber Capital Management LLC 0.71% of their portfolio | 368.2k $4.8m | Added +42.5k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.09% of their portfolio | 359.8k $4.7m | Added +84.1k |
| Balyasny Asset Management L.P. 0.01% of their portfolio | 358.0k $4.7m | Added +273.9k |
| UBS Group AG 0.00% of their portfolio | 355.2k $4.7m | Added +176.9k |
| General Equity Holdings LP 2.79% of their portfolio | 355.1k $4.7m | New |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 346.9k $4.6m | Added +21.1k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 332.6k $4.4m | Reduced -58.5k |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 324.4k $4.3m | Reduced -98.9k |
| Bronte Capital Management Pty Ltd. 0.48% of their portfolio | 323.4k $4.3m | Reduced -616.5k |
| Pekin Hardy Strauss, Inc. 0.36% of their portfolio | 314.0k $4.1m | Added +29.0k |
| GROUP ONE TRADING LLC 0.12% of their portfolio | 303.5k $4.0m | Reduced -29.6k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 300.5k $4.0m | Reduced -139.4k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 292.7k $3.8m | Added +22.6k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 279.1k $3.7m | Added +131.3k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 272.3k $4.0m | Added +174.6k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 270.2k $3.6m | Reduced -60.9k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 260.4k $3.4m | Added +59.0k |
| XTX Topco Ltd 0.04% of their portfolio | 255.7k $3.4m | Added +195.0k |
| Quantinno Capital Management LP 0.00% of their portfolio | 240.3k $3.2m | Added +169.1k |
| Parallax Volatility Advisers, L.P. 0.12% of their portfolio | 238.0k $3.1m | Reduced -120.7k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 233.8k $3.1m | Reduced -100.5k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 225.2k $3.0m | Reduced -787.0k |
| Caption Management, LLC 0.10% of their portfolio | 224.8k $3.0m | Added +66.0k |
| Swiss National Bank 0.00% of their portfolio | 207.6k $2.7m | Added +4.3k |
| PICTON MAHONEY ASSET MANAGEMENT 0.03% of their portfolio | 206.4k $2.7m | New |
| MAI Capital Management 0.01% of their portfolio | 203.0k $2.7m | Added +202.9k |
| Engineers Gate Manager LP 0.03% of their portfolio | 202.5k $2.7m | Added +122.8k |
| CSM Advisors, LLC 0.06% of their portfolio | 202.3k $2.7m | New |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 196.0k $2.6m | Reduced -13.6k |
| Corient Private Wealth LP 0.00% of their portfolio | 179.1k $2.4m | Added +156.7k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.01% of their portfolio | 160.5k $2.1m | Added +13.5k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.01% of their portfolio | 155.0k $2.0m | Reduced -20.9k |
| SEGALL BRYANT & HAMILL, LLC 0.02% of their portfolio | 138.4k $1.8m | New |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 137.5k $1.8m | Added +8.6k |
| Y-Intercept (Hong Kong) Ltd 0.04% of their portfolio | 136.2k $1.8m | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 131.6k $1.7m | Added +19.8k |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 131.2k $1.7m | Added +1.9k |
| DENALI ADVISORS LLC 0.17% of their portfolio | 131.0k $1.7m | New |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 128.9k $1.7m | Added +6.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 118.9k $1.6m | Added +1.5k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 116.4k $1.5m | Added +9.7k |
| Bridgewater Associates, LP 0.01% of their portfolio | 115.9k $1.5m | Reduced -77.3k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 115.5k $1.5m | Reduced -98.8k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.00% of their portfolio | 112.0k $1.5m | Unchanged |
| Diversify Advisory Services, LLC 0.02% of their portfolio | 104.5k $1.3m | New |
| DIVERSIFY WEALTH MANAGEMENT, LLC 0.02% of their portfolio | 104.5k $1.3m | Added +71.4k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.01% of their portfolio | 104.3k $1.4m | Added +72.9k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 102.1k $1.3m | Added +57.2k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 100.0k $1.3m | Unchanged |
| Janney Montgomery Scott LLC 0.00% of their portfolio | 97.5k $1.3m | Added +1.2k |
| CenterBook Partners LP 0.06% of their portfolio | 93.0k $1.2m | Reduced -20.9k |
| WOLVERINE ASSET MANAGEMENT LLC 0.02% of their portfolio | 93.0k $1.2m | Reduced -80.7k |
| DARK FOREST CAPITAL MANAGEMENT LP 0.08% of their portfolio | 88.8k $1.2m | Reduced -65.7k |
| SG Americas Securities, LLC 0.00% of their portfolio | 87.7k $1.2m | New |