Theravance Biopharma
TBPH
174 hedge funds and large institutions have $814M invested in Theravance Biopharma in 2026 Q1 according to their latest regulatory filings, with 42 funds opening new positions, 60 increasing their positions, 46 reducing their positions, and 34 closing their positions.
30% more repeat investments, than reductions
Existing positions increased: 60 | Existing positions reduced: 46
24% more first-time investments, than exits
New positions opened: 42 | Existing positions closed: 34
3% more funds holding
Funds holding: 169 → 174 (+5)
0.45% less ownership
Funds ownership: 97.87% → 97.42% (-0.45%)
12% less capital invested
Capital invested by funds: $927M → $814M (-$113M)
20% less funds holding in top 10
Funds holding in top 10: 5 → 4 (-1)
93% less call options, than puts
Call options by funds: $847K | Put options by funds: $11.6M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Two Sigma Investments
New York
|
+$12.8M |
| 2 |
NM
Newtyn Management
New York
|
+$9.58M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$5.66M |
| 4 |
6CM
683 Capital Management
New York
|
+$4.42M |
| 5 |
BlackRock
New York
|
+$4.35M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$11.2M |
| 2 |
TCM
Tang Capital Management
San Diego,
California
|
-$6.57M |
| 3 |
HIM
Hillsdale Investment Management
Toronto,
Ontario, Canada
|
-$5.77M |
| 4 |
D.E. Shaw & Co
New York
|
-$5.41M |
| 5 |
Morgan Stanley
New York
|
-$5.18M |
TBPH Hedge Fund Activity: Q1 2026 in Review
174 of the 8,187 institutional investors tracked by Wall St. Rank reported a position in Theravance Biopharma (TBPH) for Q1 2026, worth a combined $814M — down 12% from $927M a quarter earlier.
Buyers outnumbered sellers: 42 funds opened new TBPH positions and 34 closed out — a net gain of 8 holders — while 60 added to existing stakes and 46 trimmed.
The largest buyer was Two Sigma Investments, adding an estimated $12.8M. The largest seller was Arrowstreet Capital, cutting an estimated $11.2M.
- 174 institutional investors held Theravance Biopharma (TBPH) as of Q1 2026, up from 169 in Q4 2025.
- Funds reported $814M of Theravance Biopharma stock for Q1 2026, down 12% quarter-over-quarter.
- 42 funds opened new Theravance Biopharma positions in Q1 2026 and 34 closed out, a net change of +8 holders.
- The largest Theravance Biopharma buyer in Q1 2026 was Two Sigma Investments, an estimated $12.8M added.
- The largest Theravance Biopharma seller in Q1 2026 was Arrowstreet Capital, an estimated $11.2M sold.
Based on aggregated 13F filings for Q1 2026.