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Theravance Biopharma
TBPH

93 hedge funds and large institutions have $320M invested in Theravance Biopharma in 2014 Q4 according to their latest regulatory filings, with 23 funds opening new positions, 29 increasing their positions, 26 reducing their positions, and 19 closing their positions.

New
Increased
Maintained
Reduced
Closed

449% more call options, than puts

Call options by funds: $291K | Put options by funds: $53K

21% more first-time investments, than exits

New positions opened: 23 | Existing positions closed: 19

12% more repeat investments, than reductions

Existing positions increased: 29 | Existing positions reduced: 26

2% more funds holding

Funds holding: 91 → 93 (+2)

40% less capital invested

Capital invested by funds: $533M → $320M (-$213M)

100% less funds holding in top 10

Funds holding in top 10: 2 → 0 (-2)

Holders
93
Holders Change
+2
Holders Change %
+2.2%
% of All Funds
2.48%
Holding in Top 10
–
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-100%
% of All Funds
–
New
23
Increased
29
Reduced
26
Closed
19
Calls
$291K
Puts
$53K
Net Calls
+$238K
Net Calls Change
-$4K

Top Buyers

Rank Fund Capital Flow
1
RA
Royce & Associates
New York
+$8.35M
2
BFA
BlackRock Fund Advisors
California
+$7.54M
3
CC
Clearline Capital
New York
+$4.36M
4
First Manhattan
First Manhattan
New York
+$3.91M
5
Deutsche Bank
Deutsche Bank
Germany
+$3.1M

Top Sellers

Rank Fund Capital Flow
1
IAM
Iridian Asset Management
Connecticut
-$33.4M
2
Capital World Investors
Capital World Investors
California
-$16.8M
3
First Eagle Investment Management
First Eagle Investment Management
New York
-$10.5M
4
PC
Perry Capital
New York
-$9.99M
5
Fidelity Investments
Fidelity Investments
Massachusetts
-$4.78M
Name Holding Trade Value Shares
Change 		Change in
Stake
State of New Jersey Common Pension Fund D
26
State of New Jersey Common Pension Fund D
New Jersey
$1.87M – – –
Bank of New York Mellon
27
Bank of New York Mellon
New York
$1.74M -$69.5K -3,989 -3%
California Public Employees Retirement System
28
California Public Employees Retirement System
California
$1.73M +$1.06M +61,100 +175%
CS
29
Credit Suisse
Switzerland
$1.69M +$345K +19,812 +21%
AllianceBernstein
30
AllianceBernstein
Tennessee
$1.48M +$741K +42,559 +75%
Bank of America
31
Bank of America
North Carolina
$1.47M -$690K -39,583 -29%
HS
32
HighVista Strategies
Massachusetts
$1.29M -$828K -47,514 -35%
TCIM
33
TIAA CREF Investment Management
New York
$1.25M -$415K -23,812 -22%
Macquarie Group
34
Macquarie Group
Australia
$1.16M +$1.35M +77,548 New
RP
35
Reinhart Partners
Wisconsin
$1.07M +$1.25M +71,850 New
BIM
36
BlackRock Investment Management
Delaware
$1.02M -$9.15K -525 -0.8%
Charles Schwab
37
Charles Schwab
California
$954K +$37.2K +2,133 +3%
ARC
38
Absolute Return Capital
Massachusetts
$939K -$99.5K -5,713 -8%
ARTA
39
A.R.T. Advisors
New York
$893K +$1.04M +59,885 New
HCM
40
Highbridge Capital Management
New York
$862K +$1.01M +57,773 New
Citadel Advisors
41
Citadel Advisors
Florida
$717K +$594K +34,089 +243%
Two Sigma Investments
42
Two Sigma Investments
New York
$698K +$815K +46,775 New
Susquehanna International Group
43
Susquehanna International Group
Pennsylvania
$664K +$776K +44,531 New
California State Teachers Retirement System (CalSTRS)
44
California State Teachers Retirement System (CalSTRS)
California
$651K +$3.24K +186 +0.4%
RC
45
Roundview Capital
New Jersey
$625K +$33.9K +1,948 +5%
TA
46
Teachers Advisors
New York
$491K – – –
Dimensional Fund Advisors
47
Dimensional Fund Advisors
Texas
$434K -$261 -15 -0.1%
PAM
48
Panagora Asset Management
Massachusetts
$430K -$145K -8,319 -22%
ProShare Advisors
49
ProShare Advisors
Maryland
$394K +$297K +17,049 +182%
Swiss National Bank
50
Swiss National Bank
Switzerland
$390K – – –
1
2
3 4 5

TBPH Hedge Fund Activity: Q4 2014 in Review

93 of the 3,749 institutional investors tracked by Wall St. Rank reported a position in Theravance Biopharma (TBPH) for Q4 2014, worth a combined $320M — down 40% from $533M a quarter earlier.

Buyers outnumbered sellers: 23 funds opened new TBPH positions and 19 closed out — a net gain of 4 holders — while 29 added to existing stakes and 26 trimmed.

The largest buyer was Royce & Associates, adding an estimated $8.35M. The largest seller was Iridian Asset Management, exiting entirely with an estimated $33.4M sold.

  • 93 institutional investors held Theravance Biopharma (TBPH) as of Q4 2014, up from 91 in Q3 2014.
  • Funds reported $320M of Theravance Biopharma stock for Q4 2014, down 40% quarter-over-quarter.
  • 23 funds opened new Theravance Biopharma positions in Q4 2014 and 19 closed out, a net change of +4 holders.
  • The largest Theravance Biopharma buyer in Q4 2014 was Royce & Associates, an estimated $8.35M added.
  • The largest Theravance Biopharma seller in Q4 2014 was Iridian Asset Management, an estimated $33.4M sold.

Based on aggregated 13F filings for Q4 2014.