Phathom Pharmaceuticals
PHAT
162 hedge funds and large institutions have $782M invested in Phathom Pharmaceuticals in 2026 Q2 according to their latest regulatory filings, with 22 funds opening new positions, 59 increasing their positions, 50 reducing their positions, and 32 closing their positions.
769% more call options, than puts
Call options by funds: $11.9M | Put options by funds: $1.37M
18% more repeat investments, than reductions
Existing positions increased: 59 | Existing positions reduced: 50
2.94% more ownership
Funds ownership: 87.42% → 90.37% (+2.9%)
2% more capital invested
Capital invested by funds: $765M → $782M (+$16.6M)
7% less funds holding
Funds holding: 174 → 162 (-12)
14% less funds holding in top 10
Funds holding in top 10: 7 → 6 (-1)
31% less first-time investments, than exits
New positions opened: 22 | Existing positions closed: 32
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$13.1M |
| 2 |
Point72 Asset Management
Stamford,
Connecticut
|
+$11.7M |
| 3 |
Franklin Resources
San Mateo,
California
|
+$11.1M |
| 4 |
GKIM
GW&K Investment Management
Boston,
Massachusetts
|
+$8.51M |
| 5 |
HSBC Holdings
London,
United Kingdom
|
+$8.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$7.38M |
| 2 |
Ensign Peak Advisors
Salt Lake City,
Utah
|
-$6.57M |
| 3 |
PA
Perceptive Advisors
New York
|
-$4.48M |
| 4 |
Invesco
Atlanta,
Georgia
|
-$3.34M |
| 5 |
SPS
Susquehanna Portfolio Strategies
Bala Cynwyd,
Pennsylvania
|
-$2.98M |
PHAT Hedge Fund Activity: Q2 2026 in Review
162 of the 8,305 institutional investors tracked by Wall St. Rank reported a position in Phathom Pharmaceuticals (PHAT) for Q2 2026, worth a combined $782M — up 2.2% from $765M a quarter earlier.
Sellers outnumbered buyers: 32 funds closed out of PHAT and 22 opened new positions — a net loss of 10 holders — while 50 trimmed existing stakes and 59 added.
The largest buyer was Goldman Sachs, adding an estimated $13.1M. The largest seller was Millennium Management, cutting an estimated $7.38M.
- 162 institutional investors held Phathom Pharmaceuticals (PHAT) as of Q2 2026, down from 174 in Q1 2026.
- Funds reported $782M of Phathom Pharmaceuticals stock for Q2 2026, up 2.2% quarter-over-quarter.
- 22 funds opened new Phathom Pharmaceuticals positions in Q2 2026 and 32 closed out, a net change of -10 holders.
- The largest Phathom Pharmaceuticals buyer in Q2 2026 was Goldman Sachs, an estimated $13.1M added.
- The largest Phathom Pharmaceuticals seller in Q2 2026 was Millennium Management, an estimated $7.38M sold.
Based on aggregated 13F filings for Q2 2026.