Ligand Pharmaceuticals Inc: which funds bought and sold

Institutions that bought and sold Ligand Pharmaceuticals shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 240 institutions that filed 13F reports for both quarters added to or opened positions in Ligand Pharmaceuticals, and 146 cut or closed them. Together they added a net 1.8M shares, +9.3% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 629K shares (+16.4%); index fund managers were net buyers of 300K shares (+4.4%). 91 opened a new position and 33 sold out entirely.

Bought, Q2 2026 240 institutions, 91 of them new holders Sold, Q2 2026 146 institutions, 33 of them sold out

Net change, all compared +1.8M shares (+9.3%)

Net change, active managers +629K shares (+16.4%), 21 bought, 27 sold

Buyers versus sellers

institutions compared, 440

240 bought 54 146 sold

Active managers and hedge funds 21 bought · 27 sold · +629K

Index fund managers 10 bought · 2 sold · +300K

Other institutions 209 bought · 117 sold · +907K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Invesco Ltd.	+378K +45.9%	1.2M	$380M
Neuberger Berman Group LLC Active manager	+247K +16887.3%	248K	$78.5M
Franklin Resources Inc Active manager	+179K +31.2%	752K	$238M
FMR LLC Active manager	+167K +28.0%	763K	$241M
Congress Asset Management Co Active manager	+155K +30.8%	660K	$209M
Blackrock, Inc. Index funds	+139K +4.7%	3.1M	$980M
Voya Investment Management LLC	+124K +3686.4%	127K	$40.2M
Granahan Investment Management, LLC	+123K +509.3%	147K	$46.5M
Next Century Growth Investors LLC	+103K +107.1%	199K	$62.8M
Gw&K Investment Management, LLC	+97K +65.1%	247K	$78M
Aberdeen Group PLC	+82K +91.6%	172K	$54.5M
Pembroke Management, Ltd	+81K New position	81K	$25.5M
Price T Rowe Associates Inc Active manager	+68K +282.7%	91K	$28.9M
BNP Paribas Financial Markets	+59K +169.4%	94K	$29.7M
State Street Corp Index funds	+48K +6.1%	827K	$261M
Context Capital Management, LLC	+46K New position	46K	$14.5M
Citigroup Inc	+45K +208.6%	67K	$21.1M
Susquehanna Advisors Group, Inc.	+45K New position	45K	$14.1M
Vanguard Portfolio Management LLC Index funds	+38K +3.5%	1.1M	$360M
Aristeia Capital, L.L.C. Hedge fund	+37K New position	37K	$11.8M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Neuberger Berman Group LLC Active manager	+247K +16887.3%	248K	$78.5M
Franklin Resources Inc Active manager	+179K +31.2%	752K	$238M
FMR LLC Active manager	+167K +28.0%	763K	$241M
Congress Asset Management Co Active manager	+155K +30.8%	660K	$209M
Price T Rowe Associates Inc Active manager	+68K +282.7%	91K	$28.9M
Aristeia Capital, L.L.C. Hedge fund	+37K New position	37K	$11.8M
Kennedy Capital Management LLC Active manager	+33K New position	33K	$10.5M
Linden Advisors LP Hedge fund	+27K New position	27K	$8.7M
Lazard Asset Management LLC Active manager	+20K New position	20K	$6.2M
Two Sigma Investments, LP Hedge fund	+19K New position	19K	$6M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Bank Of Montreal	−64K −74.1%	22K	$7.1M
Loomis Sayles & Co L P Active manager	−61K −17.4%	292K	$92.2M
Fiera Capital Corp	−58K −42.8%	77K	$24.4M
Goldman Sachs Group Inc	−58K −15.2%	323K	$102M
Pictet Asset Management Holding SA	−58K −95.0%	3,055	$965,655
Clark Capital Management Group, Inc.	−57K −63.5%	33K	$10.4M
Deutsche Bank Ag\	−57K −18.5%	250K	$78.9M
Nomura Holdings Inc	−52K −45.8%	62K	$19.6M
Victory Capital Management Inc Active manager	−49K −16.3%	254K	$80.2M
Qube Research & Technologies Ltd Hedge fund	−48K Sold out	0	—
American Century Companies Inc Active manager	−38K −93.6%	2,591	$818,989
Ashford Capital Management Inc	−37K −18.0%	170K	$53.8M
Massachusetts Financial Services Co Active manager	−36K −8.7%	376K	$119M
Private Capital Management, LLC	−35K −17.6%	166K	$52.5M
Villere St Denis J & Co LLC	−33K −17.7%	156K	$49.2M
Wells Fargo & Company	−28K −32.5%	57K	$18.1M
Impax Asset Management Group PLC	−22K −14.7%	130K	$41.1M
D. E. Shaw & Co., Inc. Hedge fund	−22K −27.9%	57K	$17.9M
Lisanti Capital Growth, LLC	−20K −51.4%	19K	$5.9M
Stephens Investment Management Group LLC	−19K −3.9%	476K	$150M

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Loomis Sayles & Co L P Active manager	−61K −17.4%	292K	$92.2M
Victory Capital Management Inc Active manager	−49K −16.3%	254K	$80.2M
Qube Research & Technologies Ltd Hedge fund	−48K Sold out	0	—
American Century Companies Inc Active manager	−38K −93.6%	2,591	$818,989
Massachusetts Financial Services Co Active manager	−36K −8.7%	376K	$119M
D. E. Shaw & Co., Inc. Hedge fund	−22K −27.9%	57K	$17.9M
Arrowstreet Capital, Limited Partnership Hedge fund	−15K Sold out	0	—
Caxton Associates LLP Hedge fund	−13K −68.6%	5,854	$1.9M
Voloridge Investment Management, LLC Hedge fund	−13K Sold out	0	—
Ranger Investment Management, L.P. Active manager	−10K −3.9%	258K	$81.4M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Pembroke Management, Ltd	81K	$25.5M
Context Capital Management, LLC	46K	$14.5M
Susquehanna Advisors Group, Inc.	45K	$14.1M
Aristeia Capital, L.L.C.Hedge fund	37K	$11.8M
Kennedy Capital Management LLCActive manager	33K	$10.5M
Linden Advisors LPHedge fund	27K	$8.7M
Hodges Capital Management Inc.	23K	$7.4M
Lazard Asset Management LLCActive manager	20K	$6.2M
Informed Momentum Co LLC	19K	$6.2M
TD Waterhouse Canada Inc.	20K	$6.1M

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Qube Research & Technologies LtdHedge fund	48K	$9.5M
Arrowstreet Capital, Limited PartnershipHedge fund	15K	$2.9M
Jane Street Group, LLC	13K	$2.6M
Voloridge Investment Management, LLCHedge fund	13K	$2.5M
Walleye Capital LLCHedge fund	10K	$2.1M
Ishara Investments LP	8,200	$1.6M
Marshall Wace, LLPHedge fund	7,505	$1.5M
Jefferies Financial Group Inc.	7,315	$1.5M
Citadel Advisors LLCHedge fund	6,596	$1.3M
Man Group PLCHedge fund	5,644	$1.1M

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 412
Ten largest holders: 48.3%
Index fund managers: 31.7%
Active managers and hedge funds: 19.7%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	21	27	10	8	+629K	+16.4%
Index fund managers	10	2	1	0	+300K	+4.4%
Other institutions	209	117	80	25	+907K	+10.0%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Ligand Pharmaceuticals.

Only managers that filed a holdings report for both quarters are compared (440 here). 13 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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