VRDN
Pharmaceuticals, Biotechnology & Life Sciences
CROWD: RED
Active holders jumped 105 to 93 recently (-11% 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
93
of 226 total, index funds excluded
This quarter
+21
33 out
Conviction
6 bps
median holder weight: token bet
Streak
0q
consecutive rising quarters
The crowd, 2016 to now
active holders per quarter
2020Mar 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 · $2.2B held
Fund
Value
Note
FMR LLC
$301M
BlackRock, Inc.
$153M
Bellevue Group AG
$132M
STATE STREET CORP
$91M
VANGUARD CAPITAL MANAGEMENT…
$82M
Fairmount Funds Management …
$77M
Venrock Adviser, LLC
$76M
PRICE T ROWE ASSOCIATES INC…
$63M
Paradigm Biocapital Advisor…
$62M
WELLINGTON MANAGEMENT GROUP…
$60M
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.