Who owns Liquidia (LQDA)
Which tracked institutional funds hold LQDA, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See LQDA company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on LQDA is one-sided between 2026-Q1 and 2026-Q2: 176 added or opened and 28 trimmed or exited — on balance accumulating.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
LQDA’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes LQDA more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in LQDA 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 2026-Q1 and 2026-Q2, across 310 tracked filers holding LQDA, 210 increased or opened the position and 119 reduced or closed it; 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
Funds opening or closing a position in LQDA between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 40
- FULLER & THALER ASSET MANAGEMENT, INC.$96M
- AMERICAN CENTURY COMPANIES INC$43M
- PRINCIPAL FINANCIAL GROUP INC$27M
- Jupiter Topco LLC$20M
- Public Sector Pension Investment Board$19M
- JACOBS LEVY EQUITY MANAGEMENT, INC$19M
Full exits 17
- TCG Crossover Management, LLC$15M
- CITADEL ADVISORS LLC$6M
- HRT FINANCIAL LP$5M
- PATHWAY CAPITAL MANAGEMENT, LP$3M
- VOLORIDGE INVESTMENT MANAGEMENT, LLC$3M
- TUDOR INVESTMENT CORP ET AL$2M
Largest adds
- BlackRock, Inc.$653M
- Caligan Partners LP$341M
- FARALLON CAPITAL MANAGEMENT, L.L.C.$340M
- STATE STREET CORP$171M
- FINDELL CAPITAL MANAGEMENT LLC$147M
- VANGUARD CAPITAL MANAGEMENT LLC$140M
Largest trims
- JANE STREET GROUP, LLC$19M
- Pale Fire Capital SE$14M
- Trexquant Investment LP$7M
- MARSHALL WACE, LLP$5M
- Squarepoint Ops LLC$4M
- CenterBook Partners LP$4M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 10,788,586 | $860M | 15.3% | 2026-Q2 |
| FARALLON CAPITAL MANAGEMENT, L.L.C. trimmed | 8,365,038 | $667M | 11.9% | 2026-Q2 |
| Caligan Partners LP | 8,118,892 | $647M | 11.5% | 2026-Q2 |
| FINDELL CAPITAL MANAGEMENT LLC | 3,502,112 | $279M | 5.0% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 3,139,183 | $250M | 4.5% | 2026-Q2 |
| STATE STREET CORP added | 3,030,395 | $242M | 4.3% | 2026-Q2 |
| Opaleye Management Inc. trimmed | 2,447,500 | $195M | 3.5% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 2,121,290 | $169M | 3.0% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 1,991,566 | $159M | 2.8% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 1,940,364 | $155M | 2.8% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 1,532,151 | $122M | 2.2% | 2026-Q2 |
| Caprock Group, LLC added | 1,409,759 | $112M | 2.0% | 2026-Q2 |
| MPM BIOIMPACT LLC trimmed | 1,386,174 | $111M | 2.0% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 1,267,706 | $101M | 1.8% | 2026-Q2 |
| FULLER & THALER ASSET MANAGEMENT, INC. new | 1,209,604 | $96M | 1.7% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 958,892 | $76M | 1.4% | 2026-Q2 |
| FEDERATED HERMES, INC. added | 816,187 | $65M | 1.2% | 2026-Q2 |
| NORTHERN TRUST CORP added | 709,063 | $57M | 1.0% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 674,033 | $54M | 1.0% | 2026-Q2 |
| MORGAN STANLEY added | 658,441 | $52M | 0.9% | 2026-Q2 |
| BOOTHBAY FUND MANAGEMENT, LLC trimmed | 622,716 | $50M | 0.9% | 2026-Q2 |
| UBS Group AG added | 606,558 | $48M | 0.9% | 2026-Q2 |
| FMR LLC added | 595,629 | $47M | 0.8% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC new | 542,131 | $43M | 0.8% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 503,774 | $40M | 0.7% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 471,067 | $38M | 0.7% | 2026-Q2 |
| Eversept Partners, LP trimmed | 428,652 | $34M | 0.6% | 2026-Q2 |
| Buckley Capital Advisors, LLC trimmed | 410,044 | $33M | 0.6% | 2026-Q2 |
| OBERWEIS ASSET MANAGEMENT INC/ added | 406,400 | $32M | 0.6% | 2026-Q2 |
| Invesco Ltd. trimmed | 405,090 | $32M | 0.6% | 2026-Q2 |
| Purewater Capital LLC added | 379,924 | $30M | 0.5% | 2026-Q2 |
| Bank of New York Mellon Corp added | 372,434 | $30M | 0.5% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC new | 343,444 | $27M | 0.5% | 2026-Q2 |
| Nuveen, LLC added | 316,498 | $25M | 0.5% | 2026-Q2 |
| FIRST TRUST ADVISORS LP added | 301,432 | $24M | 0.4% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP trimmed | 266,829 | $21M | 0.4% | 2026-Q2 |
| Seven Fleet Capital Management LP added | 256,603 | $20M | 0.4% | 2026-Q2 |
| Jupiter Topco LLC new | 250,937 | $20M | 0.4% | 2026-Q2 |
| Public Sector Pension Investment Board new | 241,376 | $19M | 0.3% | 2026-Q2 |
| JACOBS LEVY EQUITY MANAGEMENT, INC new | 240,752 | $19M | 0.3% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP new | 239,557 | $19M | 0.3% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC added | 232,353 | $19M | 0.3% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC added | 225,868 | $18M | 0.3% | 2026-Q2 |
| Empowered Funds, LLC added | 210,365 | $17M | 0.3% | 2026-Q2 |
| ALGERT GLOBAL LLC trimmed | 191,841 | $15M | 0.3% | 2026-Q2 |
| Capricorn Fund Managers Ltd trimmed | 182,205 | $15M | 0.3% | 2026-Q2 |
| WELLINGTON MANAGEMENT GROUP LLP trimmed | 176,135 | $14M | 0.3% | 2026-Q2 |
| Greenland Capital Management LP added | 172,000 | $14M | 0.2% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 170,386 | $14M | 0.2% | 2026-Q2 |
| CITIGROUP INC added | 166,891 | $13M | 0.2% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 163,621 | $13M | 0.2% | 2026-Q2 |
| RHUMBLINE ADVISERS added | 161,976 | $13M | 0.2% | 2026-Q2 |
| Legal & General Group Plc added | 159,790 | $13M | 0.2% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 145,612 | $11M | 0.2% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 144,792 | $12M | 0.2% | 2026-Q2 |
| JANE STREET GROUP, LLC trimmed | 141,541 | $11M | 0.2% | 2026-Q2 |
| Apis Capital Advisors, LLC trimmed | 140,000 | $11M | 0.2% | 2026-Q2 |
| BARCLAYS PLC added | 130,863 | $10M | 0.2% | 2026-Q2 |
| Swiss National Bank added | 128,100 | $10M | 0.2% | 2026-Q2 |
| Woodline Partners LP added | 125,160 | $10M | 0.2% | 2026-Q2 |
| Insight Wealth Strategies, LLC trimmed | 124,067 | $10M | 0.2% | 2026-Q2 |
| PRUDENTIAL FINANCIAL INC added | 122,836 | $10M | 0.2% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 121,911 | $10M | 0.2% | 2026-Q2 |
| HSBC HOLDINGS PLC new | 117,620 | $9M | 0.2% | 2026-Q2 |
| Trexquant Investment LP trimmed | 110,628 | $9M | 0.2% | 2026-Q2 |
| Diametric Capital, LP trimmed | 105,781 | $8M | 0.2% | 2026-Q2 |
| STATE OF WISCONSIN INVESTMENT BOARD added | 98,858 | $8M | 0.1% | 2026-Q2 |
| HighVista Strategies LLC trimmed | 97,896 | $8M | 0.1% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 96,553 | $4M | 0.1% | 2026-Q2 |
| CAXTON ASSOCIATES LLP trimmed | 92,656 | $7M | 0.1% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 87,896 | $7M | 0.1% | 2026-Q2 |
| T3 Companies, LLC trimmed | 87,800 | $7M | 0.1% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 85,415 | $7M | 0.1% | 2026-Q2 |
| BANCO BILBAO VIZCAYA ARGENTARIA, S.A. trimmed | 78,789 | $6M | 0.1% | 2026-Q2 |
| ESSEX INVESTMENT MANAGEMENT CO LLC trimmed | 74,743 | $6M | 0.1% | 2026-Q2 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE added | 74,702 | $6M | 0.1% | 2026-Q2 |
| DV EQUITIES, LLC new | 74,500 | $6M | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 74,095 | $6M | 0.1% | 2026-Q2 |
| MARSHALL WACE, LLP trimmed | 73,289 | $6M | 0.1% | 2026-Q2 |
| AWH Capital, L.P. trimmed | 73,000 | $6M | 0.1% | 2026-Q2 |
| LGT Fund Management Co Ltd. trimmed | 70,800 | $6M | 0.1% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 67,217 | $5M | 0.1% | 2026-Q2 |
| VICTORY CAPITAL MANAGEMENT INC trimmed | 63,875 | $5M | 0.1% | 2026-Q2 |
| LPL Financial LLC added | 61,694 | $5M | 0.1% | 2026-Q2 |
| CREDIT AGRICOLE S A new | 61,000 | $5M | 0.1% | 2026-Q2 |
| Vontobel Holding Ltd. added | 60,962 | $5M | 0.1% | 2026-Q2 |
| Sigma Planning Corp trimmed | 57,590 | $5M | 0.1% | 2026-Q2 |
| LOS ANGELES CAPITAL MANAGEMENT LLC added | 54,603 | $4M | 0.1% | 2026-Q2 |
| BURNEY CO/ added | 53,008 | $4M | 0.1% | 2026-Q2 |
| Allspring Global Investments Holdings, LLC new | 51,462 | $4M | 0.1% | 2026-Q2 |
| SEGALL BRYANT & HAMILL, LLC added | 50,802 | $4M | 0.1% | 2026-Q2 |
| Creative Planning added | 50,051 | $4M | 0.1% | 2026-Q2 |
| Advisory Services Network, LLC trimmed | 48,150 | $4M | 0.1% | 2026-Q2 |
| TD Asset Management Inc added | 47,398 | $4M | 0.1% | 2026-Q2 |
| OCCUDO QUANTITATIVE STRATEGIES LP added | 45,502 | $4M | 0.1% | 2026-Q2 |
| Verition Fund Management LLC trimmed | 45,233 | $4M | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 44,703 | $4M | 0.1% | 2026-Q2 |
| Mariner, LLC added | 43,647 | $3M | 0.1% | 2026-Q2 |
| OSAIC HOLDINGS, INC. added | 42,666 | $3M | 0.1% | 2026-Q2 |
| MetLife Investment Management, LLC added | 41,056 | $3M | 0.1% | 2026-Q2 |
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.