BLTE
Pharmaceuticals, Biotechnology & Life Sciences
CROWD: RED
Active holders jumped 35 to 33 recently (-6% in one quarter). Ten years of our own data says fast institutional pile-ins mark late money, not early money. Careful chasing this.
Active holders
33
of 75 total, index funds excluded
This quarter
+16
18 out
Conviction
27 bps
median holder weight: token bet
Streak
0q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2022Mar 2026
Holdings as of Mar 31, 2026, filed by May 16, 2026. Counts for the newest quarter keep settling for a few weeks as amendments land.
The tide
funds in (up) vs out (down)
Top holders
by reported value · $1.4B held
Fund
Value
Note
Darwin Global Management, L…
$456M
Paradigm Biocapital Advisor…
$178M
UBS Group AG
$123M
RTW INVESTMENTS, LP
$114M
MILLENNIUM MANAGEMENT LLC
$91M
Holocene Advisors, LP
$79M
EVENTIDE ASSET MANAGEMENT, …
$57M
DEERFIELD MANAGEMENT COMPAN…
$48M
fast money
PRICE T ROWE ASSOCIATES INC…
$45M
MORGAN STANLEY
$32M
Tourists vs true believers
every holder a dot · right = bigger bet in their own book, up = patient money
Hover any dot for the fund and its bet size. Patience is measured from each filer's actual quarter-to-quarter turnover across our whole database.