Madrigal Pharmaceuticals, Inc.: which funds bought and sold

Institutions that bought and sold Madrigal 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, 218 institutions that filed 13F reports for both quarters added to or opened positions in Madrigal Pharmaceuticals, and 169 cut or closed them. Together they sold a net 198K shares, −0.9% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 179K shares (−1.6%); index fund managers were net sellers of 674K shares (−14.0%). 74 opened a new position and 40 sold out entirely.

Bought, Q2 2026 218 institutions, 74 of them new holders Sold, Q2 2026 169 institutions, 40 of them sold out

Net change, all compared −198K shares (−0.9%)

Net change, active managers −179K shares (−1.6%), 36 bought, 35 sold

Buyers versus sellers

institutions compared, 445

218 bought 58 169 sold

Active managers and hedge funds 36 bought · 35 sold · −179K

Index fund managers 1 bought · 11 sold · −674K

Other institutions 181 bought · 123 sold · +656K

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
UBS Group AG	+284K +241.1%	402K	$216M
Assenagon Asset Management S.A.	+232K +1449.5%	248K	$133M
Jane Street Group, LLC	+156K +434.5%	192K	$103M
Holocene Advisors, LP Hedge fund	+153K New position	153K	$82.1M
Ameriprise Financial Inc	+133K +135.5%	231K	$124M
Wellington Management Group LLP Active manager	+131K +18.8%	826K	$443M
Susquehanna International Group, LLP	+126K +568.9%	149K	$79.8M
Clearbridge Investments, LLC Active manager	+85K +347.2%	109K	$58.7M
HRT Financial LP	+85K New position	85K	$45.4M
Marshall Wace, LLP Hedge fund	+80K +365.1%	102K	$54.7M
Balyasny Asset Management L.P. Hedge fund	+79K New position	79K	$42.4M
Allspring Global Investments Holdings, LLC	+66K +5548.4%	68K	$34.8M
Alliancebernstein L.P. Active manager	+64K +51.0%	189K	$99.2M
Citadel Advisors LLC Hedge fund	+53K +11.8%	507K	$272M
Jones Hill Capital LP	+53K New position	53K	$28.2M
Toronto Dominion Bank	+51K +39.1%	181K	$97.4M
Millennium Management LLC Hedge fund	+40K +98.8%	81K	$43.6M
Lord, Abbett & Co. LLC	+39K +16.0%	282K	$151M
Vestal Point Capital, LP Hedge fund	+34K +106.6%	65K	$34.9M
Artisan Partners Limited Partnership Active manager	+27K +14.5%	210K	$113M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Holocene Advisors, LP Hedge fund	+153K New position	153K	$82.1M
Wellington Management Group LLP Active manager	+131K +18.8%	826K	$443M
Clearbridge Investments, LLC Active manager	+85K +347.2%	109K	$58.7M
Marshall Wace, LLP Hedge fund	+80K +365.1%	102K	$54.7M
Balyasny Asset Management L.P. Hedge fund	+79K New position	79K	$42.4M
Alliancebernstein L.P. Active manager	+64K +51.0%	189K	$99.2M
Citadel Advisors LLC Hedge fund	+53K +11.8%	507K	$272M
Millennium Management LLC Hedge fund	+40K +98.8%	81K	$43.6M
Vestal Point Capital, LP Hedge fund	+34K +106.6%	65K	$34.9M
Artisan Partners Limited Partnership Active manager	+27K +14.5%	210K	$113M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Blackrock, Inc. Index funds	−359K −23.0%	1.2M	$645M
Adage Capital Partners Gp, L.L.C. Hedge fund	−185K Sold out	0	—
FMR LLC Active manager	−156K −30.4%	356K	$191M
Price T Rowe Associates Inc Active manager	−141K −42.9%	187K	$101M
Point72 Asset Management, L.P. Hedge fund	−88K −39.2%	137K	$73.6M
Logos Global Management LP Hedge fund	−85K Sold out	0	—
State Street Corp Index funds	−82K −13.5%	527K	$283M
Geode Capital Management, LLC Index funds	−81K −17.8%	375K	$201M
Hood River Capital Management LLC	−80K −32.2%	169K	$90.8M
Fiera Capital Corp	−74K −42.6%	100K	$53.6M
Franklin Resources Inc Active manager	−65K −87.4%	9,319	$5M
American Century Companies Inc Active manager	−65K −39.4%	99K	$53.4M
Vanguard Portfolio Management LLC Index funds	−59K −7.1%	782K	$420M
Bank Of America Corp	−55K −29.3%	134K	$72M
Morgan Stanley	−52K −27.3%	139K	$74.6M
Paulson & Co. Inc.	−52K −3.7%	1.3M	$720M
Northern Trust Corp Index funds	−51K −34.0%	99K	$52.9M
Squarepoint Ops LLC Hedge fund	−50K −95.3%	2,485	$1.3M
Erste Asset Management Gmbh	−50K −31.2%	110K	$58.1M
Raymond James Financial Inc	−47K −71.0%	19K	$10.4M

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Adage Capital Partners Gp, L.L.C. Hedge fund	−185K Sold out	0	—
FMR LLC Active manager	−156K −30.4%	356K	$191M
Price T Rowe Associates Inc Active manager	−141K −42.9%	187K	$101M
Point72 Asset Management, L.P. Hedge fund	−88K −39.2%	137K	$73.6M
Logos Global Management LP Hedge fund	−85K Sold out	0	—
Franklin Resources Inc Active manager	−65K −87.4%	9,319	$5M
American Century Companies Inc Active manager	−65K −39.4%	99K	$53.4M
Squarepoint Ops LLC Hedge fund	−50K −95.3%	2,485	$1.3M
Polar Capital Holdings PLC Active manager	−45K −15.6%	244K	$131M
Driehaus Capital Management LLC Active manager	−33K −29.6%	78K	$41.9M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Holocene Advisors, LPHedge fund	153K	$82.1M
HRT Financial LP	85K	$45.4M
Balyasny Asset Management L.P.Hedge fund	79K	$42.4M
Jones Hill Capital LP	53K	$28.2M
Jain Global LLCHedge fund	11K	$5.9M
Waterloo Capital, L.P.	9,926	$5.3M
Focus Partners Wealth	8,541	$4.6M
Treasurer Of The State Of North Carolina	7,630	$4.1M
Verition Fund Management LLCHedge fund	7,490	$4M
Brevan Howard Capital Management LPHedge fund	6,447	$3.5M

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Adage Capital Partners Gp, L.L.C.Hedge fund	185K	$97M
Logos Global Management LPHedge fund	85K	$44.5M
Emerald Mutual Fund Advisers Trust	17K	$8.6M
Walleye Capital LLCHedge fund	13K	$6.9M
Eversept Partners, LPHedge fund	10K	$5.2M
Landscape Capital Management, L.L.C.	8,456	$4.4M
Entropy Technologies, LP	5,626	$2.9M
Intech Investment Management LLCActive manager	4,238	$2.2M
Bridgewater Associates, LPHedge fund	3,920	$2.1M
Moody Aldrich Partners LLC	3,829	$2M

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 412
Ten largest holders: 56.6%
Index fund managers: 17.5%
Active managers and hedge funds: 45.8%

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	36	35	17	10	−179K	−1.6%
Index fund managers	1	11	0	0	−674K	−14.0%
Other institutions	181	123	57	30	+656K	+11.2%

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 Madrigal Pharmaceuticals.

Only managers that filed a holdings report for both quarters are compared (445 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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