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CARL

Carlsmed
CARL

57 hedge funds and large institutions have $57.7M invested in Carlsmed in 2025 Q4 according to their latest regulatory filings, with 16 funds opening new positions, 20 increasing their positions, 9 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

129% more first-time investments, than exits

New positions opened: 16 | Existing positions closed: 7

122% more repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 9

19% more funds holding

Funds holding: 48 → 57 (+9)

0.04% more ownership

Funds ownership: 17.53% → 17.58% (+0.04%)

8% less capital invested

Capital invested by funds: $62.4M → $57.7M (-$4.68M)

Holders
57
Holders Change
+9
Holders Change %
+18.75%
% of All Funds
0.69%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
16
Increased
20
Reduced
9
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Vanguard Group
Vanguard Group
Pennsylvania
+$1.77M
2
Millennium Management
Millennium Management
New York
+$1.44M
3
Janus Henderson Group
Janus Henderson Group
United Kingdom
+$640K
4
SAM
Sectoral Asset Management
Quebec, Canada
+$635K
5
BlackRock
BlackRock
New York
+$560K

Top Sellers

Rank Fund Capital Flow
1
APM
Avidity Partners Management
Texas
-$4.31M
2
Citadel Advisors
Citadel Advisors
Florida
-$1.47M
3
ZP
Zimmer Partners
New York
-$670K
4
MIM
Monashee Investment Management
Massachusetts
-$536K
5
N
Nuveen
North Carolina
-$411K
Name Holding Trade Value Shares
Change 		Change in
Stake
Goldman Sachs
26
Goldman Sachs
New York
$168K +$181K +13,600 New
Morgan Stanley
27
Morgan Stanley
New York
$165K +$50.6K +3,804 +40%
Bank of New York Mellon
28
Bank of New York Mellon
New York
$162K +$24.6K +1,850 +16%
UBS Group
29
UBS Group
Switzerland
$132K -$180K -13,517 -56%
Barclays
30
Barclays
United Kingdom
$131K +$13.6K +1,021 +11%
Deutsche Bank
31
Deutsche Bank
Germany
$121K +$131K +9,832 New
Wells Fargo
32
Wells Fargo
California
$96.8K +$39.8K +2,989 +62%
RhumbLine Advisers
33
RhumbLine Advisers
Massachusetts
$54.6K -$19.8K -1,484 -25%
JP Morgan Chase
34
JP Morgan Chase
New York
$40.1K +$6.87K +516 +19%
Mirae Asset Global ETFs Holdings
35
Mirae Asset Global ETFs Holdings
Hong Kong
$40K +$1.17K +88 +3%
BNP Paribas Financial Markets
36
BNP Paribas Financial Markets
France
$26.6K -$4.66K -350 -14%
New York State Common Retirement Fund
37
New York State Common Retirement Fund
New York
$22.2K – – –
PFSRSONJ
38
Police & Firemen's Retirement System of New Jersey
New Jersey
$15.5K – – –
SO
39
STRS Ohio
Ohio
$14.8K – – –
Royal Bank of Canada
40
Royal Bank of Canada
Ontario, Canada
$13K +$12.8K +960 +1,455%
TRCT
41
Tower Research Capital (TRC)
New York
$12.7K -$6.16K -463 -31%
IGAM
42
iA Global Asset Management
Quebec, Canada
$12K – – –
Legal & General Group
43
Legal & General Group
United Kingdom
$8.09K – – –
AIP
44
Ameritas Investment Partners
Nebraska
$6.98K – – –
California State Teachers Retirement System (CalSTRS)
45
California State Teachers Retirement System (CalSTRS)
California
$5.15K +$5.55K +417 New
Jones Financial Companies
46
Jones Financial Companies
Missouri
$4.69K +$5.06K +380 New
Fidelity Investments
47
Fidelity Investments
Massachusetts
$3.79K +$4.03K +303 +7,575%
AB
48
Amalgamated Bank
New York
$3K -$93 -7 -3%
Citigroup
49
Citigroup
New York
$2.31K -$439 -33 -15%
SCM
50
Sterling Capital Management
North Carolina
$2.21K +$253 +19 +12%
1
2
3

CARL Hedge Fund Activity: Q4 2025 in Review

57 of the 8,229 institutional investors tracked by Wall St. Rank reported a position in Carlsmed (CARL) for Q4 2025, worth a combined $57.7M — down 7.5% from $62.4M a quarter earlier.

Buyers outnumbered sellers: 16 funds opened new CARL positions and 7 closed out — a net gain of 9 holders — while 20 added to existing stakes and 9 trimmed.

The largest buyer was Vanguard Group, adding an estimated $1.77M. The largest seller was Avidity Partners Management, exiting entirely with an estimated $4.31M sold.

  • 57 institutional investors held Carlsmed (CARL) as of Q4 2025, up from 48 in Q3 2025.
  • Funds reported $57.7M of Carlsmed stock for Q4 2025, down 7.5% quarter-over-quarter.
  • 16 funds opened new Carlsmed positions in Q4 2025 and 7 closed out, a net change of +9 holders.
  • The largest Carlsmed buyer in Q4 2025 was Vanguard Group, an estimated $1.77M added.
  • The largest Carlsmed seller in Q4 2025 was Avidity Partners Management, an estimated $4.31M sold.

Based on aggregated 13F filings for Q4 2025.