We are live on ! Find out more
PHAT icon

Phathom Pharmaceuticals
PHAT

174 hedge funds and large institutions have $768M invested in Phathom Pharmaceuticals in 2026 Q1 according to their latest regulatory filings, with 38 funds opening new positions, 74 increasing their positions, 40 reducing their positions, and 35 closing their positions.

New
Increased
Maintained
Reduced
Closed

1,951% more call options, than puts

Call options by funds: $14.6M | Put options by funds: $713K

85% more repeat investments, than reductions

Existing positions increased: 74 | Existing positions reduced: 40

1% more funds holding

Funds holding: 172 → 174 (+2)

9% more first-time investments, than exits

New positions opened: 38 | Existing positions closed: 35

0.67% more ownership

Funds ownership: 87.07% → 87.74% (+0.67%)

13% less funds holding in top 10

Funds holding in top 10: 8 → 7 (-1)

25% less capital invested

Capital invested by funds: $1.03B → $768M (-$257M)

Holders
174
Holders Change
+2
Holders Change %
+1.16%
% of All Funds
2.14%
Holding in Top 10
7
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-12.5%
% of All Funds
0.09%
New
38
Increased
74
Reduced
40
Closed
35
Calls
$14.6M
Puts
$713K
Net Calls
+$13.9M
Net Calls Change
-$2.73M

Top Buyers

1
Millennium Management
Millennium Management
New York
+$24.5M
2
NAMI
Nomura Asset Management International
Pennsylvania
+$15.2M
3
Franklin Resources
Franklin Resources
California
+$12.6M
4
PA
Perceptive Advisors
New York
+$11.7M
5
Marshall Wace
Marshall Wace
United Kingdom
+$10.9M

Top Sellers

1
DSCM
Divisadero Street Capital Management
Florida
-$11M
2
MCM
Moore Capital Management
New York
-$9.95M
3
Ensign Peak Advisors
Ensign Peak Advisors
Utah
-$9.15M
4
NCGI
Next Century Growth Investors
Minnesota
-$6.53M
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$5.76M
Name Holding Trade Value Shares
Change 		Change in
Stake
PNC Financial Services Group
151
PNC Financial Services Group
Pennsylvania
$15.4K -$429 -34 -2%
SCM
152
Sterling Capital Management
North Carolina
$13.3K -$6.96K -551 -32%
QCG
153
Quadrant Capital Group
Ohio
$12.1K +$227 +18 +2%
SWA
154
Strategic Wealth Advisors
Arizona
$11K – – –
BNP Paribas Asset Management
155
BNP Paribas Asset Management
France
$9.88K +$3.6K +285 +47%
CMBA
156
C.M. Bidwell & Associates
Hawaii
$6.55K -$3.32K -263 -31%
MPWT
157
MassMutual Private Wealth & Trust
Connecticut
$5.1K +$1.76K +139 +43%
GI
158
GAMMA Investing
California
$4.87K +$1.71K +135 +45%
FFA
159
Farther Finance Advisors
California
$3.89K +$88 +7 +2%
US Bancorp
160
US Bancorp
Minnesota
$3.28K +$227 +18 +6%
Optiver Holding
161
Optiver Holding
Netherlands
$3.13K +$1.06K +84 +42%
S
162
SignatureFD
Georgia
$2.65K +$2.51K +199 +498%
TC
163
Truvestments Capital
Florida
$2.5K +$2.84K +225 New
PA
164
Parallel Advisors
California
$1.11K – – –
TWD
165
True Wealth Design
Ohio
$978 -$88 -7 -7%
RIAS
166
Rachor Investment Advisory Services
Michigan
$278 – – –
MCM
167
MAI Capital Management
Ohio
$256 +$291 +23 New
EWP
168
Elevation Wealth Partners
California
$223 – – –
EWA
169
EverSource Wealth Advisors
Alabama
$134 +$88 +7 +140%
RFP
170
Root Financial Partners
California
$122 +$139 +11 New
SHIM
171
Stone House Investment Management
Pennsylvania
$89 +$101 +8 New
IA
172
IFP Advisors
Florida
$11 – – –
HFS
173
Hughes Financial Services
Virginia
$11 +$13 +1 New
DSCM
174
Divisadero Street Capital Management
Florida
– -$11M -662,312 Closed
MCM
175
Moore Capital Management
New York
– -$9.95M -600,000 Closed
5 6
7
8 9

PHAT Hedge Fund Activity: Q1 2026 in Review

174 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Phathom Pharmaceuticals (PHAT) for Q1 2026, worth a combined $768M — down 25% from $1.03B a quarter earlier.

Buyers outnumbered sellers: 38 funds opened new PHAT positions and 35 closed out — a net gain of 3 holders — while 74 added to existing stakes and 40 trimmed.

The largest buyer was Millennium Management, adding an estimated $24.5M. The largest seller was Divisadero Street Capital Management, exiting entirely with an estimated $11M sold.

  • 174 institutional investors held Phathom Pharmaceuticals (PHAT) as of Q1 2026, up from 172 in Q4 2025.
  • Funds reported $768M of Phathom Pharmaceuticals stock for Q1 2026, down 25% quarter-over-quarter.
  • 38 funds opened new Phathom Pharmaceuticals positions in Q1 2026 and 35 closed out, a net change of +3 holders.
  • The largest Phathom Pharmaceuticals buyer in Q1 2026 was Millennium Management, an estimated $24.5M added.
  • The largest Phathom Pharmaceuticals seller in Q1 2026 was Divisadero Street Capital Management, an estimated $11M sold.

Based on aggregated 13F filings for Q1 2026.