Legend Biotech
LEGN
200 hedge funds and large institutions have $1.91B invested in Legend Biotech in 2025 Q4 according to their latest regulatory filings, with 36 funds opening new positions, 69 increasing their positions, 65 reducing their positions, and 35 closing their positions.
20% more funds holding in top 10
Funds holding in top 10: 5 → 6 (+1)
2.08% more ownership
Funds ownership: 45.36% → 47.43% (+2.1%)
6% more repeat investments, than reductions
Existing positions increased: 69 | Existing positions reduced: 65
3% more first-time investments, than exits
New positions opened: 36 | Existing positions closed: 35
0% more funds holding
Funds holding: 200 → 200 (0)
11% less call options, than puts
Call options by funds: $13M | Put options by funds: $14.6M
30% less capital invested
Capital invested by funds: $2.73B → $1.91B (-$821M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DM
Deerfield Management
New York
|
+$85.1M |
| 2 |
SCM
Suvretta Capital Management
New York
|
+$79.9M |
| 3 |
Point72 Asset Management
Stamford,
Connecticut
|
+$79.8M |
| 4 |
Goldman Sachs
New York
|
+$32.1M |
| 5 |
Marshall Wace
London,
United Kingdom
|
+$21.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$98.4M |
| 2 |
Janus Henderson Group
London,
|
-$69.3M |
| 3 |
Federated Hermes
Pittsburgh,
Pennsylvania
|
-$30M |
| 4 |
TCM
Tang Capital Management
San Diego,
California
|
-$27.1M |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$22.5M |
LEGN Hedge Fund Activity: Q4 2025 in Review
200 of the 8,265 institutional investors tracked by Wall St. Rank reported a position in Legend Biotech (LEGN) for Q4 2025, worth a combined $1.91B — down 30% from $2.73B a quarter earlier.
Buyers outnumbered sellers: 36 funds opened new LEGN positions and 35 closed out — a net gain of 1 holder — while 69 added to existing stakes and 65 trimmed.
The largest buyer was Deerfield Management, adding an estimated $85.1M. The largest seller was Fidelity Investments, cutting an estimated $98.4M.
- 200 institutional investors held Legend Biotech (LEGN) as of Q4 2025, unchanged from Q3 2025.
- Funds reported $1.91B of Legend Biotech stock for Q4 2025, down 30% quarter-over-quarter.
- 36 funds opened new Legend Biotech positions in Q4 2025 and 35 closed out, a net change of +1 holder.
- The largest Legend Biotech buyer in Q4 2025 was Deerfield Management, an estimated $85.1M added.
- The largest Legend Biotech seller in Q4 2025 was Fidelity Investments, an estimated $98.4M sold.
Based on aggregated 13F filings for Q4 2025.