LB Partners’s Liquidia Corp LQDA Stock Holding History

LB Partners’s Portfolio LQDA Stock Details LQDA Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-200,000	Closed	-$4.55M	–	27
2025 Q3	$4.55M	Hold	200,000	–	–	2.92%	10
2025 Q2	$2.49M	Hold	200,000	–	–	1.59%	12
2025 Q1	$2.95M	Hold	200,000	–	–	2.12%	11
2024 Q4	$2.35M	Hold	200,000	–	–	1.76%	15
2024 Q3	$2M	Sell	200,000 -82,947	-29%	-$906K	1.74%	14
2024 Q2	$3.4M	Hold	282,947	–	–	2.83%	10
2024 Q1	$4.17M	Hold	282,947	–	–	4.26%	7
2023 Q4	$3.4M	Buy	+282,947	New	+$2.04M	3.73%	10

Other funds holding LQDA

FCM

Farallon Capital Management San Francisco, California $17.5B AUM 50.95% 1-Year Est. Return

Caligan Partners New York $1.5B AUM 518.95% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

FCM

Findell Capital Management New York $341M AUM 135.6% 1-Year Est. Return

Opaleye Management Boston, Massachusetts $759M AUM 124.8% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Caprock Group Boise, Idaho $5.22B AUM 42.47% 1-Year Est. Return

TCM

TCG Crossover Management Palo Alto, California $3.5B AUM 1,165.83% 1-Year Est. Return

LB Partners's LQDA Position: Q4 2025 in Review

LB Partners sold out of Liquidia Corp (LQDA) in Q4 2025, closing a stake of 200,000 shares — an estimated $4.55M sold.

LB Partners first reported a position in LQDA in Q4 2023 and held it in 8 quarters. The position peaked at $4.55M in Q3 2025. 226 funds tracked by Wall St. Rank hold LQDA as of Q4 2025.

LB Partners reported no remaining Liquidia Corp position as of Q4 2025 after selling out during the quarter.
LB Partners sold 200,000 Liquidia Corp shares in Q4 2025, an estimated $4.55M.
LB Partners first reported a position in Liquidia Corp in Q4 2023 and held it in 8 quarters.
LB Partners's Liquidia Corp position peaked at $4.55M in Q3 2025.
226 funds tracked by Wall St. Rank held Liquidia Corp as of Q4 2025.

Based on LB Partners's 13F filing for Q4 2025, filed 17 Feb 2026.