Trevi Therapeutics, Inc.: which funds bought and sold

Institutions that bought and sold Trevi Therapeutics 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, 127 institutions that filed 13F reports for both quarters added to or opened positions in Trevi Therapeutics, and 79 cut or closed them. Together they added a net 14.5M shares, +10.7% on what they held at the start of the quarter. Active managers and hedge funds on our list were net buyers of 3.8M shares (+9.3%); index fund managers were net buyers of 2.7M shares (+11.0%). 39 opened a new position and 19 sold out entirely.

Bought, Q2 2026 127 institutions, 39 of them new holders Sold, Q2 2026 79 institutions, 19 of them sold out

Net change, all compared +14.5M shares (+10.7%)

Net change, active managers +3.8M shares (+9.3%), 24 bought, 15 sold

Buyers versus sellers

institutions compared, 231

127 bought 25 79 sold

Active managers and hedge funds 24 bought · 15 sold · +3.8M

Index fund managers 10 bought · 1 sold · +2.7M

Other institutions 93 bought · 63 sold · +8.0M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
FMR LLC Active manager	+4.5M +56.3%	12.6M	$234M
Woodline Partners LP Hedge fund	+3.1M +307.8%	4.1M	$76.1M
Assenagon Asset Management S.A.	+3.1M New position	3.1M	$56.9M
First Light Asset Management, LLC	+2.1M New position	2.1M	$39.1M
Barclays PLC	+1.1M +2031.3%	1.1M	$21.3M
Frontier Capital Management Co LLC Active manager	+1.1M +54.0%	3.1M	$57.3M
Saturn V Capital Management LP	+1.1M New position	1.1M	$19.6M
Jones Hill Capital LP	+969K +261.8%	1.3M	$25M
Vestal Point Capital, LP Hedge fund	+933K +43.1%	3.1M	$57.8M
Blackrock, Inc. Index funds	+915K +8.9%	11.2M	$208M
Nuveen, LLC	+577K +306.6%	765K	$14.3M
Vanguard Capital Management LLC Index funds	+552K +11.1%	5.5M	$103M
Wellington Management Group LLP Active manager	+496K +9.5%	5.7M	$106M
Balyasny Asset Management L.P. Hedge fund	+371K +78.3%	845K	$15.8M
State Street Corp Index funds	+362K +13.6%	3.0M	$56.5M
Bank Of America Corp	+316K +26.0%	1.5M	$28.6M
Pictet Asset Management Holding SA	+308K +18.0%	2.0M	$37.6M
Superstring Capital Management LP	+273K +108.4%	524K	$9.8M
Informed Momentum Co LLC	+265K New position	265K	$4.9M
Rock Springs Capital Management LP Hedge fund	+260K New position	260K	$4.8M

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
FMR LLC Active manager	+4.5M +56.3%	12.6M	$234M
Woodline Partners LP Hedge fund	+3.1M +307.8%	4.1M	$76.1M
Frontier Capital Management Co LLC Active manager	+1.1M +54.0%	3.1M	$57.3M
Vestal Point Capital, LP Hedge fund	+933K +43.1%	3.1M	$57.8M
Wellington Management Group LLP Active manager	+496K +9.5%	5.7M	$106M
Balyasny Asset Management L.P. Hedge fund	+371K +78.3%	845K	$15.8M
Rock Springs Capital Management LP Hedge fund	+260K New position	260K	$4.8M
Trexquant Investment LP Hedge fund	+243K New position	243K	$4.5M
Walleye Capital LLC Hedge fund	+242K New position	242K	$4.5M
Burkehill Global Management, LP Hedge fund	+200K +38.1%	725K	$13.5M

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Viking Global Investors LP Hedge fund	−1.7M −51.7%	1.5M	$28.8M
Marshall Wace, LLP Hedge fund	−1.3M −32.6%	2.7M	$49.9M
Rubric Capital Management LP Hedge fund	−1.2M −32.5%	2.5M	$46.7M
Citadel Advisors LLC Hedge fund	−1.2M Sold out	0	—
Octagon Capital Advisors LP	−1.2M −78.8%	315K	$5.9M
Orbimed Advisors LLC	−1.0M −41.7%	1.4M	$26.7M
Millennium Management LLC Hedge fund	−571K Sold out	0	—
Logos Global Management LP Hedge fund	−520K −21.7%	1.9M	$35.1M
Alliancebernstein L.P. Active manager	−490K −17.2%	2.4M	$28.1M
Panagora Asset Management Inc Active manager	−443K −70.9%	182K	$3.4M
Soleus Capital Management, L.P. Hedge fund	−440K −27.2%	1.2M	$22M
Gmt Capital Corp	−318K Sold out	0	—
Mpm Bioimpact LLC	−225K −6.8%	3.1M	$57.3M
Propel Bio Management, LLC	−224K Sold out	0	—
Susquehanna International Group, LLP	−204K −89.7%	23K	$435,478
Affinity Asset Advisors, LLC	−200K −10.0%	1.8M	$33.6M
UBS Group AG	−176K −39.4%	270K	$5M
J. Goldman & Co LP Hedge fund	−156K −65.8%	81K	$1.5M
Squarepoint Ops LLC Hedge fund	−104K Sold out	0	—
Peregrine Capital Management LLC	−86K −16.2%	444K	$8.3M

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Viking Global Investors LP Hedge fund	−1.7M −51.7%	1.5M	$28.8M
Marshall Wace, LLP Hedge fund	−1.3M −32.6%	2.7M	$49.9M
Rubric Capital Management LP Hedge fund	−1.2M −32.5%	2.5M	$46.7M
Citadel Advisors LLC Hedge fund	−1.2M Sold out	0	—
Millennium Management LLC Hedge fund	−571K Sold out	0	—
Logos Global Management LP Hedge fund	−520K −21.7%	1.9M	$35.1M
Alliancebernstein L.P. Active manager	−490K −17.2%	2.4M	$28.1M
Panagora Asset Management Inc Active manager	−443K −70.9%	182K	$3.4M
Soleus Capital Management, L.P. Hedge fund	−440K −27.2%	1.2M	$22M
J. Goldman & Co LP Hedge fund	−156K −65.8%	81K	$1.5M

New positions

largest by value

Institution	Shares	Value June 30, 2026
Assenagon Asset Management S.A.	3.1M	$56.9M
First Light Asset Management, LLC	2.1M	$39.1M
Saturn V Capital Management LP	1.1M	$19.6M
Informed Momentum Co LLC	265K	$4.9M
Rock Springs Capital Management LPHedge fund	260K	$4.8M
Trexquant Investment LPHedge fund	243K	$4.5M
Walleye Capital LLCHedge fund	242K	$4.5M
Integral Health Asset Management, LLC	200K	$3.7M
Seven Grand Managers, LLC	150K	$2.8M
Harvest Investment Services, LLC	115K	$2.1M

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Citadel Advisors LLCHedge fund	1.2M	$14.3M
Millennium Management LLCHedge fund	571K	$6.8M
Gmt Capital Corp	318K	$3.8M
Propel Bio Management, LLC	224K	$2.6M
Squarepoint Ops LLCHedge fund	104K	$1.2M
Exoduspoint Capital Management, LPHedge fund	80K	$952,718
Simplify Asset Management Inc.	65K	$780,365
Two Sigma Investments, LPHedge fund	38K	$458,291
AQR Capital Management LLCHedge fund	28K	$335,817
Group One Trading LLC	26K	$309,345

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 218
Ten largest holders: 48.8%
Index fund managers: 17.8%
Active managers and hedge funds: 29.5%

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	24	15	10	7	+3.8M	+9.3%
Index fund managers	10	1	0	0	+2.7M	+11.0%
Other institutions	93	63	29	12	+8.0M	+11.5%

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 Trevi Therapeutics.

Only managers that filed a holdings report for both quarters are compared (231 here). 10 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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