Who owns Madrigal Pharmaceuticals (MDGL)
Which tracked institutional funds hold MDGL, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See MDGL 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
110 tracked funds added or opened MDGL while 105 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
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
MDGL’s largest tracked holder by dollar value, BAKER BROS. ADVISORS LP, sizes it at 5.8% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 5.8pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in MDGL 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 387 tracked filers holding MDGL, 210 increased or opened the position and 193 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 MDGL 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 34
- Jupiter Topco LLC$1.0B
- Holocene Advisors, LP$82M
- BALYASNY ASSET MANAGEMENT L.P.$42M
- Jones Hill Capital LP$28M
- Weiss Asset Management LP$10M
- Jain Global LLC$6M
Full exits 33
- JANUS HENDERSON GROUP PLC$1.1B
- LORD, ABBETT & CO. LLC$127M
- ADAGE CAPITAL PARTNERS GP, L.L.C.$97M
- Logos Global Management LP$44M
- EMERALD MUTUAL FUND ADVISERS TRUST$9M
- HighTower Advisors, LLC$7M
Largest adds
- UBS Group AG$154M
- JANE STREET GROUP, LLC$84M
- NORGES BANK$84M
- WELLINGTON MANAGEMENT GROUP LLP$81M
- AMERIPRISE FINANCIAL INC$73M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$68M
Largest trims
- PRICE T ROWE ASSOCIATES INC /MD/$71M
- FMR LLC$67M
- BlackRock, Inc.$47M
- Point72 Asset Management, L.P.$44M
- Hood River Capital Management LLC$40M
- Fiera Capital Corp$37M
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 |
|---|---|---|---|---|
| BAKER BROS. ADVISORS LP added | 2,143,131 | $1.2B | 9.5% | 2026-Q2 |
| RTW INVESTMENTS, LP | 1,993,687 | $1.1B | 8.8% | 2026-Q2 |
| Jupiter Topco LLC new | 1,936,099 | $1.0B | 8.6% | 2026-Q2 |
| Avoro Capital Advisors LLC added | 1,833,333 | $984M | 8.1% | 2026-Q2 |
| PAULSON & CO. INC. trimmed | 1,340,020 | $720M | 5.9% | 2026-Q2 |
| BlackRock, Inc. trimmed | 1,200,770 | $645M | 5.3% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 835,668 | $449M | 3.7% | 2026-Q2 |
| WELLINGTON MANAGEMENT GROUP LLP added | 825,714 | $443M | 3.7% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC trimmed | 781,731 | $420M | 3.5% | 2026-Q2 |
| STATE STREET CORP trimmed | 527,057 | $283M | 2.3% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 507,233 | $272M | 2.2% | 2026-Q2 |
| UBS Group AG added | 401,708 | $216M | 1.8% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC trimmed | 374,880 | $201M | 1.7% | 2026-Q2 |
| FMR LLC trimmed | 356,201 | $191M | 1.6% | 2026-Q2 |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC trimmed | 324,123 | $174M | 1.4% | 2026-Q2 |
| Invesco Ltd. trimmed | 301,435 | $162M | 1.3% | 2026-Q2 |
| ARMISTICE CAPITAL, LLC added | 288,000 | $155M | 1.3% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC trimmed | 246,280 | $132M | 1.1% | 2026-Q2 |
| Polar Capital Holdings Plc trimmed | 244,274 | $131M | 1.1% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 231,205 | $124M | 1.0% | 2026-Q2 |
| NORGES BANK added | 213,886 | $115M | 0.9% | 2026-Q2 |
| Artisan Partners Limited Partnership added | 210,205 | $113M | 0.9% | 2026-Q2 |
| Pictet Asset Management Holding SA added | 192,896 | $103M | 0.9% | 2026-Q2 |
| JANE STREET GROUP, LLC added | 191,541 | $103M | 0.8% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 189,458 | $99M | 0.8% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 187,226 | $101M | 0.8% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 184,324 | $99M | 0.8% | 2026-Q2 |
| TORONTO DOMINION BANK added | 181,432 | $97M | 0.8% | 2026-Q2 |
| Rock Springs Capital Management LP added | 174,999 | $94M | 0.8% | 2026-Q2 |
| Hood River Capital Management LLC trimmed | 169,084 | $91M | 0.7% | 2026-Q2 |
| Holocene Advisors, LP trimmed | 152,924 | $82M | 0.7% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 148,610 | $80M | 0.7% | 2026-Q2 |
| MORGAN STANLEY trimmed | 139,009 | $75M | 0.6% | 2026-Q2 |
| Point72 Asset Management, L.P. trimmed | 137,029 | $74M | 0.6% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 134,036 | $72M | 0.6% | 2026-Q2 |
| Bank of New York Mellon Corp trimmed | 128,520 | $69M | 0.6% | 2026-Q2 |
| Woodline Partners LP | 125,899 | $68M | 0.6% | 2026-Q2 |
| Assenagon Asset Management S.A. added | 124,214 | $67M | 0.6% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO trimmed | 121,583 | $65M | 0.5% | 2026-Q2 |
| Erste Asset Management GmbH trimmed | 110,210 | $58M | 0.5% | 2026-Q2 |
| Clearbridge Investments, LLC added | 109,325 | $59M | 0.5% | 2026-Q2 |
| MARSHALL WACE, LLP added | 101,859 | $55M | 0.5% | 2026-Q2 |
| Fiera Capital Corp trimmed | 99,857 | $54M | 0.4% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC trimmed | 99,396 | $53M | 0.4% | 2026-Q2 |
| NORTHERN TRUST CORP trimmed | 98,510 | $53M | 0.4% | 2026-Q2 |
| NEW YORK STATE COMMON RETIREMENT FUND added | 94,743 | $51M | 0.4% | 2026-Q2 |
| WESTFIELD CAPITAL MANAGEMENT CO LP trimmed | 93,931 | $50M | 0.4% | 2026-Q2 |
| DEUTSCHE BANK AG\ trimmed | 83,916 | $45M | 0.4% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC added | 81,196 | $44M | 0.4% | 2026-Q2 |
| ALKEON CAPITAL MANAGEMENT LLC | 80,000 | $43M | 0.4% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. trimmed | 79,011 | $42M | 0.4% | 2026-Q2 |
| Driehaus Capital Management LLC trimmed | 78,094 | $42M | 0.3% | 2026-Q2 |
| Candriam S.C.A. trimmed | 72,121 | $39M | 0.3% | 2026-Q2 |
| Tri Locum Partners LP trimmed | 68,273 | $37M | 0.3% | 2026-Q2 |
| Allspring Global Investments Holdings, LLC added | 67,668 | $35M | 0.3% | 2026-Q2 |
| Vestal Point Capital, LP added | 65,000 | $35M | 0.3% | 2026-Q2 |
| VOYA INVESTMENT MANAGEMENT LLC added | 61,202 | $33M | 0.3% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS added | 57,998 | $31M | 0.3% | 2026-Q2 |
| Jones Hill Capital LP new | 52,545 | $28M | 0.2% | 2026-Q2 |
| EULAV Asset Management added | 52,000 | $28M | 0.2% | 2026-Q2 |
| SCHRODER INVESTMENT MANAGEMENT GROUP added | 51,630 | $27M | 0.2% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 49,294 | $26M | 0.2% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 45,942 | $25M | 0.2% | 2026-Q2 |
| Affinity Asset Advisors, LLC trimmed | 40,000 | $21M | 0.2% | 2026-Q2 |
| CITIGROUP INC added | 37,255 | $20M | 0.2% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 35,071 | $19M | 0.2% | 2026-Q2 |
| Mirae Asset Global Investments Co., Ltd. trimmed | 33,420 | $18M | 0.1% | 2026-Q2 |
| Nuveen, LLC trimmed | 32,631 | $18M | 0.1% | 2026-Q2 |
| SEGALL BRYANT & HAMILL, LLC added | 32,444 | $17M | 0.1% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 32,403 | $17M | 0.1% | 2026-Q2 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed | 31,998 | $17M | 0.1% | 2026-Q2 |
| GROUPAMA ASSET MANAGMENT trimmed | 30,941 | $17M | 0.1% | 2026-Q2 |
| Swiss National Bank added | 29,940 | $16M | 0.1% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 29,473 | $16M | 0.1% | 2026-Q2 |
| PFM Health Sciences, LP trimmed | 29,313 | $16M | 0.1% | 2026-Q2 |
| CANADA PENSION PLAN INVESTMENT BOARD added | 29,080 | $16M | 0.1% | 2026-Q2 |
| Rockefeller Capital Management L.P. trimmed | 29,015 | $16M | 0.1% | 2026-Q2 |
| GILDER GAGNON HOWE & CO LLC trimmed | 28,573 | $15M | 0.1% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 26,536 | $14M | 0.1% | 2026-Q2 |
| SEI INVESTMENTS CO added | 25,826 | $14M | 0.1% | 2026-Q2 |
| Integral Health Asset Management, LLC | 25,000 | $13M | 0.1% | 2026-Q2 |
| California Public Employees Retirement System added | 24,277 | $13M | 0.1% | 2026-Q2 |
| WCM INVESTMENT MANAGEMENT, LLC trimmed | 22,985 | $12M | 0.1% | 2026-Q2 |
| Susquehanna Portfolio Strategies, LLC added | 22,003 | $12M | 0.1% | 2026-Q2 |
| Tao Capital Management LP | 21,000 | $11M | 0.1% | 2026-Q2 |
| HSBC HOLDINGS PLC added | 20,240 | $11M | 0.1% | 2026-Q2 |
| FIRST TRUST ADVISORS LP trimmed | 19,826 | $11M | 0.1% | 2026-Q2 |
| Weiss Asset Management LP new | 19,325 | $10M | 0.1% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 19,305 | $10M | 0.1% | 2026-Q2 |
| ArrowMark Colorado Holdings LLC trimmed | 18,624 | $10M | 0.1% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 18,154 | $10M | 0.1% | 2026-Q2 |
| SPHERA FUNDS MANAGEMENT LTD. added | 17,419 | $9M | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 17,197 | $9M | 0.1% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 15,827 | $8M | 0.1% | 2026-Q2 |
| SILVERCREST ASSET MANAGEMENT GROUP LLC trimmed | 15,655 | $8M | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 15,204 | $8M | 0.1% | 2026-Q2 |
| FEDERATED HERMES, INC. trimmed | 14,914 | $8M | 0.1% | 2026-Q2 |
| Universal- Beteiligungs- und Servicegesellschaft mbH trimmed | 14,263 | $8M | 0.1% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 14,263 | $8M | 0.1% | 2026-Q2 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM added | 13,997 | $8M | 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.