Who owns Apellis Pharmaceuticals (APLS)
Which tracked institutional funds hold APLS, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See APLS company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-08-14). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
Conviction spread
APLS’s largest tracked holder by dollar value, Avoro Capital Advisors LLC, sizes it at 4.4% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 4.3pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in APLS divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, we do not read how tracked institutions changed their APLS positions: many holders could not be matched across the two filings, most often because the security’s identifier changed and our mapping is incomplete, or because funds are still filing for the newer quarter. Over the same quarter, open-market insider Form 4s were net sales.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Avoro Capital Advisors LLC | 12,222,222 | $492M | 8.4% | 2026-Q1 |
| MORGAN STANLEY added | 10,042,399 | $404M | 6.9% | 2026-Q1 |
| BlackRock, Inc. added | 9,881,191 | $398M | 6.8% | 2026-Q1 |
| STATE STREET CORP added | 6,844,990 | $275M | 4.7% | 2026-Q1 |
| UBS Group AG added | 6,206,681 | $250M | 4.3% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 5,404,559 | $217M | 3.7% | 2026-Q1 |
| Pentwater Capital Management LP new | 5,250,000 | $211M | 3.6% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 4,768,944 | $192M | 3.3% | 2026-Q1 |
| Deep Track Capital, LP trimmed | 4,532,374 | $182M | 3.1% | 2026-Q1 |
| Point72 Asset Management, L.P. added | 4,183,918 | $168M | 2.9% | 2026-Q1 |
| RTW INVESTMENTS, LP trimmed | 3,685,045 | $148M | 2.5% | 2026-Q1 |
| HBK INVESTMENTS L P new | 3,550,000 | $143M | 2.5% | 2026-Q1 |
| MONTANOVA CAPITAL, LLC trimmed | 3,518,471 | $142M | 2.4% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 2,256,802 | $91M | 1.6% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 2,075,075 | $84M | 1.4% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 1,980,144 | $80M | 1.4% | 2026-Q1 |
| BALYASNY ASSET MANAGEMENT L.P. added | 1,917,501 | $77M | 1.3% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 1,338,995 | $54M | 0.9% | 2026-Q1 |
| GLAZER CAPITAL, LLC new | 1,294,196 | $52M | 0.9% | 2026-Q1 |
| TIG Advisors, LLC new | 1,252,986 | $50M | 0.9% | 2026-Q1 |
| TORONTO DOMINION BANK added | 1,236,436 | $50M | 0.9% | 2026-Q1 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND added | 1,202,100 | $48M | 0.8% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 1,190,864 | $48M | 0.8% | 2026-Q1 |
| Hudson Bay Capital Management LP added | 1,190,416 | $48M | 0.8% | 2026-Q1 |
| FIL Ltd added | 1,140,000 | $46M | 0.8% | 2026-Q1 |
| Kryger Capital LLC new | 1,100,000 | $44M | 0.8% | 2026-Q1 |
| SOROS FUND MANAGEMENT LLC new | 1,056,000 | $42M | 0.7% | 2026-Q1 |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC new | 1,013,500 | $41M | 0.7% | 2026-Q1 |
| Woodline Partners LP added | 976,175 | $39M | 0.7% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 935,958 | $38M | 0.6% | 2026-Q1 |
| MARSHALL WACE, LLP trimmed | 929,019 | $37M | 0.6% | 2026-Q1 |
| Man Group plc added | 915,689 | $37M | 0.6% | 2026-Q1 |
| FIRST TRUST ADVISORS LP added | 903,637 | $36M | 0.6% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 2,047,927 | $35M | 0.6% | 2026-Q1 |
| Magnetar Financial LLC new | 869,229 | $35M | 0.6% | 2026-Q1 |
| ALPINE ASSOCIATES MANAGEMENT INC. new | 864,000 | $35M | 0.6% | 2026-Q1 |
| NORGES BANK added | 1,573,601 | $34M | 0.6% | 2026-Q1 |
| ODDO BHF ASSET MANAGEMENT SAS new | 825,000 | $33M | 0.6% | 2026-Q1 |
| Kynam Capital Management, LP trimmed | 825,000 | $33M | 0.6% | 2026-Q1 |
| NORTHERN TRUST CORP added | 738,440 | $30M | 0.5% | 2026-Q1 |
| Weiss Asset Management LP new | 700,000 | $28M | 0.5% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 675,864 | $27M | 0.5% | 2026-Q1 |
| CITIGROUP INC added | 657,223 | $26M | 0.5% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 654,922 | $26M | 0.5% | 2026-Q1 |
| TUDOR INVESTMENT CORP ET AL added | 650,000 | $26M | 0.4% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS added | 584,192 | $24M | 0.4% | 2026-Q1 |
| OSSIAM added | 555,953 | $22M | 0.4% | 2026-Q1 |
| Bank of New York Mellon Corp added | 524,789 | $21M | 0.4% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP trimmed | 521,965 | $21M | 0.4% | 2026-Q1 |
| PRINCIPAL FINANCIAL GROUP INC added | 499,053 | $20M | 0.3% | 2026-Q1 |
| Absolute Gestao de Investimentos Ltda. new | 450,000 | $18M | 0.3% | 2026-Q1 |
| Squarepoint Ops LLC added | 449,796 | $18M | 0.3% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 426,473 | $17M | 0.3% | 2026-Q1 |
| LMR Partners LLP new | 403,622 | $16M | 0.3% | 2026-Q1 |
| Verition Fund Management LLC added | 400,000 | $16M | 0.3% | 2026-Q1 |
| ALLIANCEBERNSTEIN L.P. added | 638,291 | $16M | 0.3% | 2026-Q1 |
| Public Sector Pension Investment Board new | 366,674 | $15M | 0.3% | 2026-Q1 |
| First Trust Capital Management L.P. new | 350,800 | $14M | 0.2% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 340,086 | $14M | 0.2% | 2026-Q1 |
| Invesco Ltd. added | 332,478 | $13M | 0.2% | 2026-Q1 |
| GABELLI FUNDS LLC new | 321,200 | $13M | 0.2% | 2026-Q1 |
| Beck Bode, LLC new | 312,841 | $13M | 0.2% | 2026-Q1 |
| METEORA CAPITAL, LLC new | 300,000 | $12M | 0.2% | 2026-Q1 |
| O'Connor Alternative Investments LLC new | 300,000 | $12M | 0.2% | 2026-Q1 |
| Jump Financial, LLC added | 291,488 | $12M | 0.2% | 2026-Q1 |
| RHUMBLINE ADVISERS added | 275,540 | $11M | 0.2% | 2026-Q1 |
| JANUS HENDERSON GROUP PLC added | 252,130 | $10M | 0.2% | 2026-Q1 |
| 683 Capital Management, LLC trimmed | 250,000 | $10M | 0.2% | 2026-Q1 |
| CAPSTONE INVESTMENT ADVISORS, LLC added | 250,000 | $10M | 0.2% | 2026-Q1 |
| WELLINGTON MANAGEMENT GROUP LLP trimmed | 239,469 | $10M | 0.2% | 2026-Q1 |
| Granite Investment Partners, LLC trimmed | 231,917 | $9M | 0.2% | 2026-Q1 |
| Legal & General Group Plc added | 228,255 | $9M | 0.2% | 2026-Q1 |
| Westchester Capital Management, LLC new | 227,489 | $9M | 0.2% | 2026-Q1 |
| Nuveen, LLC trimmed | 220,114 | $9M | 0.2% | 2026-Q1 |
| Jefferies Financial Group Inc. added | 219,000 | $9M | 0.2% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ added | 215,041 | $9M | 0.1% | 2026-Q1 |
| SPHERA FUNDS MANAGEMENT LTD. trimmed | 214,914 | $9M | 0.1% | 2026-Q1 |
| Trexquant Investment LP added | 205,219 | $8M | 0.1% | 2026-Q1 |
| Louisiana State Employees Retirement System | 45,400 | $2M | 0.0% | 2026-Q2 (1 quarter ahead of as-of) |
| IFP Advisors, Inc trimmed | 248 | $10K | 0.0% | 2026-Q2 (1 quarter ahead of as-of) |
| MV CAPITAL MANAGEMENT, INC. | 6 | $242 | 0.0% | 2026-Q2 (1 quarter ahead of as-of) |
| Salomon & Ludwin, LLC new | 850 | — | 0.0% | 2026-Q2 (1 quarter ahead of as-of) |
| GAMMA Investing LLC added | 981 | — | 0.0% | 2026-Q2 (1 quarter ahead of as-of) |
| NBT BANK, N.A. | 45 | — | 0.0% | 2026-Q2 (1 quarter ahead of as-of) |
| Financial Gravity Companies, Inc. | 100 | — | 0.0% | 2026-Q2 (1 quarter ahead of as-of) |
| VANGUARD GROUP INC added | 10,674,865 | $268M | 4.6% | 2025-Q4 stale (1 quarter behind) |
| Polar Capital Holdings Plc added | 3,706,510 | $93M | 1.6% | 2025-Q4 stale (1 quarter behind) |
| Siren, L.L.C. | 2,578,396 | $65M | 1.1% | 2025-Q4 stale (1 quarter behind) |
| ORBIMED ADVISORS LLC added | 2,429,868 | $61M | 1.0% | 2025-Q4 stale (1 quarter behind) |
| JENNISON ASSOCIATES LLC trimmed | 1,504,299 | $38M | 0.6% | 2025-Q4 stale (1 quarter behind) |
| BANK OF NOVA SCOTIA trimmed | 1,070,141 | $27M | 0.5% | 2025-Q4 stale (1 quarter behind) |
| Simplify Asset Management Inc. added | 538,008 | $14M | 0.2% | 2025-Q4 stale (1 quarter behind) |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC trimmed | 461,186 | $12M | 0.2% | 2025-Q4 stale (1 quarter behind) |
| Rhenman & Partners Asset Management AB added | 374,450 | $9M | 0.2% | 2025-Q4 stale (1 quarter behind) |
| SCHRODER INVESTMENT MANAGEMENT GROUP added | 329,134 | $8M | 0.1% | 2025-Q4 stale (1 quarter behind) |
| EcoR1 Capital, LLC trimmed | 3,447,156 | $78M | 1.3% | 2025-Q3 stale (2 quarters behind) |
| Octagon Capital Advisors LP | 903,500 | $20M | 0.4% | 2025-Q3 stale (2 quarters behind) |
| BRAIDWELL LP trimmed | 1,121,034 | $19M | 0.3% | 2025-Q2 stale (3 quarters behind) |
| Camber Capital Management LP new | 850,000 | $15M | 0.3% | 2025-Q2 stale (3 quarters behind) |
| Capitolis Liquid Global Markets LLC new | 544,600 | $9M | 0.2% | 2025-Q2 stale (3 quarters behind) |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.