Who owns TBPH (TBPH)
Which tracked institutional funds hold TBPH, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See TBPH company fundamentals →
Ownership as of the 2026-Q1 13F filings. 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
38 tracked funds added or opened TBPH while 51 trimmed or exited it between 2025-Q4 and 2026-Q1 — 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
TBPH’s largest tracked holder by dollar value, Madison Avenue Partners, LP, sizes it at 6.7% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 6.7pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in TBPH 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, across 171 tracked filers holding TBPH, 100 increased or opened the position and 84 reduced or closed it; over the same quarter, open-market insider Form 4 buying and selling roughly offset.
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 TBPH between the 2025-Q4 and 2026-Q1 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 16
- VANGUARD CAPITAL MANAGEMENT LLC$29M
- VANGUARD PORTFOLIO MANAGEMENT LLC$7M
- VANGUARD FIDUCIARY TRUST CO$4M
- 683 Capital Management, LLC$4M
- Caption Management, LLC$3M
- RENAISSANCE TECHNOLOGIES LLC$2M
Full exits 20
- VANGUARD GROUP INC$39M
- TWO SIGMA ADVISERS, LP$7M
- TANG CAPITAL MANAGEMENT LLC$7M
- Pacer Advisors, Inc.$6M
- Hillsdale Investment Management Inc.$6M
- Rock Springs Capital Management LP$4M
Largest adds
- TWO SIGMA INVESTMENTS, LP$10M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$5M
- MACKENZIE FINANCIAL CORP$3M
- Invesco Ltd.$3M
- FMR LLC$2M
- UBS Group AG$2M
Largest trims
- Madison Avenue Partners, LP$24M
- Weiss Asset Management LP$18M
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$13M
- D. E. Shaw & Co., Inc.$8M
- Irenic Capital Management LP$7M
- MORGAN STANLEY$7M
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 |
|---|---|---|---|---|
| Madison Avenue Partners, LP | 9,511,150 | $154M | 17.3% | 2026-Q1 |
| Weiss Asset Management LP | 7,457,060 | $121M | 13.6% | 2026-Q1 |
| Newtyn Management, LLC added | 4,841,629 | $79M | 8.8% | 2026-Q1 |
| BlackRock, Inc. added | 4,296,290 | $70M | 7.8% | 2026-Q1 |
| Irenic Capital Management LP | 2,760,948 | $45M | 5.0% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 1,783,753 | $29M | 3.2% | 2026-Q1 |
| STATE STREET CORP added | 1,297,323 | $21M | 2.4% | 2026-Q1 |
| ACADIAN ASSET MANAGEMENT LLC added | 1,276,576 | $21M | 2.3% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 1,258,497 | $20M | 2.3% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 1,137,462 | $18M | 2.1% | 2026-Q1 |
| DIMENSIONAL FUND ADVISORS LP added | 983,615 | $16M | 1.8% | 2026-Q1 |
| D. E. Shaw & Co., Inc. trimmed | 954,042 | $15M | 1.7% | 2026-Q1 |
| UBS Group AG added | 764,105 | $12M | 1.4% | 2026-Q1 |
| Oasis Management Co Ltd. trimmed | 583,490 | $9M | 1.1% | 2026-Q1 |
| MORGAN STANLEY trimmed | 510,272 | $8M | 0.9% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 416,143 | $7M | 0.8% | 2026-Q1 |
| Invesco Ltd. added | 409,435 | $7M | 0.7% | 2026-Q1 |
| Assenagon Asset Management S.A. added | 404,147 | $7M | 0.7% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 400,759 | $7M | 0.7% | 2026-Q1 |
| JANUS HENDERSON GROUP PLC trimmed | 378,978 | $6M | 0.7% | 2026-Q1 |
| NORTHERN TRUST CORP added | 370,534 | $6M | 0.7% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 341,579 | $6M | 0.6% | 2026-Q1 |
| HRT FINANCIAL LP added | 328,676 | $5M | 0.6% | 2026-Q1 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP trimmed | 327,546 | $5M | 0.6% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 310,594 | $5M | 0.6% | 2026-Q1 |
| Qube Research & Technologies Ltd trimmed | 289,473 | $5M | 0.5% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 262,073 | $4M | 0.5% | 2026-Q1 |
| 683 Capital Management, LLC new | 250,000 | $4M | 0.5% | 2026-Q1 |
| Connor, Clark & Lunn Investment Management Ltd. added | 249,755 | $4M | 0.5% | 2026-Q1 |
| MACKENZIE FINANCIAL CORP added | 248,682 | $4M | 0.5% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 215,639 | $3M | 0.4% | 2026-Q1 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | 208,783 | $3M | 0.4% | 2026-Q1 |
| Trexquant Investment LP added | 205,784 | $3M | 0.4% | 2026-Q1 |
| LOS ANGELES CAPITAL MANAGEMENT LLC added | 199,589 | $3M | 0.4% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 189,155 | $3M | 0.3% | 2026-Q1 |
| Caption Management, LLC added | 163,704 | $3M | 0.3% | 2026-Q1 |
| MARSHALL WACE, LLP trimmed | 158,818 | $3M | 0.3% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 127,916 | $2M | 0.2% | 2026-Q1 |
| Nuveen, LLC added | 127,678 | $2M | 0.2% | 2026-Q1 |
| FMR LLC added | 122,966 | $2M | 0.2% | 2026-Q1 |
| TUDOR INVESTMENT CORP ET AL trimmed | 120,122 | $2M | 0.2% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 127,267 | $2M | 0.2% | 2026-Q1 |
| Jackson Creek Investment Advisors LLC new | 118,560 | $2M | 0.2% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC added | 117,738 | $2M | 0.2% | 2026-Q1 |
| Bank of New York Mellon Corp trimmed | 114,067 | $2M | 0.2% | 2026-Q1 |
| Engineers Gate Manager LP added | 113,221 | $2M | 0.2% | 2026-Q1 |
| Verition Fund Management LLC added | 110,000 | $2M | 0.2% | 2026-Q1 |
| WELLINGTON MANAGEMENT GROUP LLP trimmed | 109,700 | $2M | 0.2% | 2026-Q1 |
| Rangeley Capital, LLC added | 103,000 | $2M | 0.2% | 2026-Q1 |
| FRANKLIN RESOURCES INC added | 97,150 | $2M | 0.2% | 2026-Q1 |
| PRUDENTIAL FINANCIAL INC added | 95,115 | $2M | 0.2% | 2026-Q1 |
| CWA Asset Management Group, LLC new | 94,902 | $2M | 0.2% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 86,091 | $1M | 0.2% | 2026-Q1 |
| Marble Bar Asset Management LLP new | 85,074 | $1M | 0.2% | 2026-Q1 |
| ALLIANCEBERNSTEIN L.P. | 70,080 | $1M | 0.1% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 75,140 | $1M | 0.1% | 2026-Q1 |
| Swiss National Bank added | 75,100 | $1M | 0.1% | 2026-Q1 |
| MARTINGALE ASSET MANAGEMENT L P trimmed | 65,926 | $1M | 0.1% | 2026-Q1 |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main added | 64,533 | $1M | 0.1% | 2026-Q1 |
| Precision Wealth Strategies, LLC new | 62,815 | $1M | 0.1% | 2026-Q1 |
| Empowered Funds, LLC new | 55,463 | $900K | 0.1% | 2026-Q1 |
| PRINCIPAL FINANCIAL GROUP INC added | 52,264 | $848K | 0.1% | 2026-Q1 |
| EntryPoint Capital, LLC added | 49,739 | $807K | 0.1% | 2026-Q1 |
| Integrated Quantitative Investments LLC trimmed | 49,709 | $807K | 0.1% | 2026-Q1 |
| CANADA PENSION PLAN INVESTMENT BOARD | 49,700 | $807K | 0.1% | 2026-Q1 |
| RHUMBLINE ADVISERS trimmed | 47,941 | $778K | 0.1% | 2026-Q1 |
| Virtus Investment Advisers, LLC added | 46,464 | $754K | 0.1% | 2026-Q1 |
| BARCLAYS PLC trimmed | 46,376 | $753K | 0.1% | 2026-Q1 |
| Gotham Asset Management, LLC added | 45,212 | $734K | 0.1% | 2026-Q1 |
| STATE OF WISCONSIN INVESTMENT BOARD added | 44,024 | $715K | 0.1% | 2026-Q1 |
| STRS OHIO added | 43,700 | $709K | 0.1% | 2026-Q1 |
| HSBC HOLDINGS PLC added | 43,204 | $696K | 0.1% | 2026-Q1 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 42,666 | $692K | 0.1% | 2026-Q1 |
| Man Group plc trimmed | 42,103 | $683K | 0.1% | 2026-Q1 |
| ALPS ADVISORS INC trimmed | 41,256 | $670K | 0.1% | 2026-Q1 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 40,761 | $662K | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC trimmed | 2,095,997 | $39M | 4.4% | 2025-Q4 stale |
| TWO SIGMA ADVISERS, LP added | 379,500 | $7M | 0.8% | 2025-Q4 stale |
| TANG CAPITAL MANAGEMENT LLC added | 351,252 | $7M | 0.7% | 2025-Q4 stale |
| Pacer Advisors, Inc. new | 338,958 | $6M | 0.7% | 2025-Q4 stale |
| Hillsdale Investment Management Inc. trimmed | 308,600 | $6M | 0.6% | 2025-Q4 stale |
| Camber Capital Management LP trimmed | 450,000 | $5M | 0.6% | 2025-Q2 stale |
| Rock Springs Capital Management LP trimmed | 208,771 | $4M | 0.4% | 2025-Q4 stale |
| Park West Asset Management LLC trimmed | 181,507 | $3M | 0.4% | 2025-Q4 stale |
| Jefferies Financial Group Inc. added | 276,887 | $3M | 0.3% | 2025-Q2 stale |
| MACQUARIE GROUP LTD | 208,783 | $3M | 0.3% | 2025-Q3 stale |
| ALGERT GLOBAL LLC added | 199,705 | $3M | 0.3% | 2025-Q3 stale |
| MILLENNIUM MANAGEMENT LLC added | 136,978 | $3M | 0.3% | 2025-Q4 stale |
| Capitolis Liquid Global Markets LLC new | 127,200 | $1M | 0.2% | 2025-Q2 stale |
| Inspire Investing, LLC trimmed | 68,526 | $1M | 0.1% | 2025-Q4 stale |
| Squarepoint Ops LLC added | 67,355 | $1M | 0.1% | 2025-Q4 stale |
| Informed Momentum Co LLC added | 66,296 | $1M | 0.1% | 2025-Q4 stale |
| SIERRA SUMMIT ADVISORS LLC new | 59,371 | $1M | 0.1% | 2025-Q4 stale |
| GSA CAPITAL PARTNERS LLP trimmed | 58,379 | $1M | 0.1% | 2025-Q4 stale |
| JANE STREET GROUP, LLC trimmed | 55,831 | $1M | 0.1% | 2025-Q4 stale |
| Militia Capital Partners, LP | 54,200 | $1M | 0.1% | 2025-Q4 stale |
| NJ State Employees Deferred Compensation Plan | 58,142 | $849K | 0.1% | 2025-Q3 stale |
| Jump Financial, LLC added | 41,987 | $786K | 0.1% | 2025-Q4 stale |
| Numerai GP LLC added | 35,849 | $671K | 0.1% | 2025-Q4 stale |
| Ellsworth Advisors, LLC new | 33,332 | $670K | 0.1% | 2025-Q4 stale |
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.