Phathom Pharmaceuticals
PHAT
133 hedge funds and large institutions have $734M invested in Phathom Pharmaceuticals in 2025 Q3 according to their latest regulatory filings, with 27 funds opening new positions, 45 increasing their positions, 28 reducing their positions, and 11 closing their positions.
4,033% more call options, than puts
Call options by funds: $14.3M | Put options by funds: $346K
145% more first-time investments, than exits
New positions opened: 27 | Existing positions closed: 11
61% more repeat investments, than reductions
Existing positions increased: 45 | Existing positions reduced: 28
33% more capital invested
Capital invested by funds: $551M → $734M (+$183M)
14% more funds holding
Funds holding: 117 → 133 (+16)
5.63% more ownership
Funds ownership: 82.22% → 87.86% (+5.6%)
0% more funds holding in top 10
Funds holding in top 10: 6 → 6 (0)
Top Buyers
| 1 |
Millennium Management
New York
|
+$29.2M |
| 2 |
Citadel Advisors
Miami,
Florida
|
+$5.25M |
| 3 |
CCM
Catalio Capital Management
New York
|
+$4.71M |
| 4 |
ACM
AIGH Capital Management
Baltimore,
Maryland
|
+$4.43M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
+$4.42M |
Top Sellers
| 1 |
APM
Avidity Partners Management
Dallas,
Texas
|
-$7.83M |
| 2 |
Citigroup
New York
|
-$5.2M |
| 3 |
PBM
Propel Bio Management
Los Angeles,
California
|
-$3.82M |
| 4 |
SSA
Schonfeld Strategic Advisors
New York
|
-$2.94M |
| 5 |
6CM
683 Capital Management
New York
|
-$2.94M |
PHAT Hedge Fund Activity: Q3 2025 in Review
133 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Phathom Pharmaceuticals (PHAT) for Q3 2025, worth a combined $734M — up 33% from $551M a quarter earlier.
Buyers outnumbered sellers: 27 funds opened new PHAT positions and 11 closed out — a net gain of 16 holders — while 45 added to existing stakes and 28 trimmed.
The largest buyer was Millennium Management, adding an estimated $29.2M. The largest seller was Avidity Partners Management, cutting an estimated $7.83M.
- 133 institutional investors held Phathom Pharmaceuticals (PHAT) as of Q3 2025, up from 117 in Q2 2025.
- Funds reported $734M of Phathom Pharmaceuticals stock for Q3 2025, up 33% quarter-over-quarter.
- 27 funds opened new Phathom Pharmaceuticals positions in Q3 2025 and 11 closed out, a net change of +16 holders.
- The largest Phathom Pharmaceuticals buyer in Q3 2025 was Millennium Management, an estimated $29.2M added.
- The largest Phathom Pharmaceuticals seller in Q3 2025 was Avidity Partners Management, an estimated $7.83M sold.
Based on aggregated 13F filings for Q3 2025.