Herbalife
210 hedge funds and large institutions have $904M invested in Herbalife in 2025 Q2 according to their latest regulatory filings, with 34 funds opening new positions, 77 increasing their positions, 63 reducing their positions, and 37 closing their positions.
22% more repeat investments, than reductions
Existing positions increased: 77 | Existing positions reduced: 63
6% more call options, than puts
Call options by funds: $80.4M | Put options by funds: $76.1M
0% more funds holding in top 10
Funds holding in top 10: 5 → 5 (0)
1% less capital invested
Capital invested by funds: $915M → $904M (-$11.7M)
8% less first-time investments, than exits
New positions opened: 34 | Existing positions closed: 37
2% less funds holding
Funds holding: 214 → 210 (-4)
1.87% less ownership
Funds ownership: 104.51% → 102.64% (-1.9%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ROIC
Route One Investment Company
San Francisco,
California
|
+$10.6M |
| 2 |
F1I
Fund 1 Investments
Rincon,
Puerto Rico
|
+$7.32M |
| 3 |
NCM
Nantahala Capital Management
New Canaan,
Connecticut
|
+$5.36M |
| 4 |
MHP
Manatuck Hill Partners
Westport,
Connecticut
|
+$3.34M |
| 5 |
Nuveen
Charlotte,
North Carolina
|
+$2.81M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$7.66M |
| 2 |
Morgan Stanley
New York
|
-$6.7M |
| 3 |
LFCM
Long Focus Capital Management
San Juan,
Puerto Rico
|
-$4.37M |
| 4 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$4.1M |
| 5 |
IAM
Iridian Asset Management
Westport,
Connecticut
|
-$4.06M |
HLF Hedge Fund Activity: Q2 2025 in Review
210 of the 7,613 institutional investors tracked by Wall St. Rank reported a position in Herbalife (HLF) for Q2 2025, worth a combined $904M — down 1.3% from $915M a quarter earlier.
Sellers outnumbered buyers: 37 funds closed out of HLF and 34 opened new positions — a net loss of 3 holders — while 63 trimmed existing stakes and 77 added.
The largest buyer was Route One Investment Company, adding an estimated $10.6M. The largest seller was Millennium Management, cutting an estimated $7.66M.
- 210 institutional investors held Herbalife (HLF) as of Q2 2025, down from 214 in Q1 2025.
- Funds reported $904M of Herbalife stock for Q2 2025, down 1.3% quarter-over-quarter.
- 34 funds opened new Herbalife positions in Q2 2025 and 37 closed out, a net change of -3 holders.
- The largest Herbalife buyer in Q2 2025 was Route One Investment Company, an estimated $10.6M added.
- The largest Herbalife seller in Q2 2025 was Millennium Management, an estimated $7.66M sold.
Based on aggregated 13F filings for Q2 2025.