Who owns Trevi Therapeutics (TRVI)
Which tracked institutional funds hold TRVI, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See TRVI 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 TRVI is one-sided between 2026-Q1 and 2026-Q2: 116 added or opened and 16 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
TRVI’s largest tracked holder by dollar value, NEA Management Company, LLC, sizes it at 15.5% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 15.5pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in TRVI 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 212 tracked filers holding TRVI, 127 increased or opened the position and 82 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
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 TRVI 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 18
- First Light Asset Management, LLC$39M
- Assenagon Asset Management S.A.$28M
- Jupiter Topco LLC$22M
- Saturn V Capital Management LP$20M
- Informed Momentum Co LLC$5M
- Rock Springs Capital Management LP$5M
Full exits 8
- CITADEL ADVISORS LLC$14M
- MILLENNIUM MANAGEMENT LLC$7M
- GMT Capital Corp$4M
- Swiss Life Asset Management Ltd$4M
- Propel Bio Management, LLC$3M
- Squarepoint Ops LLC$1M
Largest adds
- FMR LLC$138M
- NEA Management Company, LLC$89M
- BlackRock, Inc.$86M
- Frazier Life Sciences Management, L.P.$67M
- Woodline Partners LP$64M
- WELLINGTON MANAGEMENT GROUP LLP$44M
Largest trims
- Octagon Capital Advisors LP$12M
- VIKING GLOBAL INVESTORS LP$9M
- ALLIANCEBERNSTEIN L.P.$8M
- PANAGORA ASSET MANAGEMENT INC$4M
- ORBIMED ADVISORS LLC$3M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$2M
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 |
|---|---|---|---|---|
| NEA Management Company, LLC | 13,222,228 | $247M | 9.1% | 2026-Q2 |
| FMR LLC added | 12,562,839 | $234M | 8.6% | 2026-Q2 |
| BlackRock, Inc. added | 11,155,026 | $208M | 7.6% | 2026-Q2 |
| Frazier Life Sciences Management, L.P. trimmed | 9,939,447 | $185M | 6.8% | 2026-Q2 |
| WELLINGTON MANAGEMENT GROUP LLP added | 5,684,592 | $106M | 3.9% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 5,530,675 | $103M | 3.8% | 2026-Q2 |
| Vivo Capital, LLC | 5,094,668 | $95M | 3.5% | 2026-Q2 |
| Woodline Partners LP added | 4,081,333 | $76M | 2.8% | 2026-Q2 |
| Vestal Point Capital, LP added | 3,100,000 | $58M | 2.1% | 2026-Q2 |
| MPM BIOIMPACT LLC trimmed | 3,073,577 | $57M | 2.1% | 2026-Q2 |
| FRONTIER CAPITAL MANAGEMENT CO LLC added | 3,070,740 | $57M | 2.1% | 2026-Q2 |
| STATE STREET CORP added | 3,027,315 | $56M | 2.1% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 2,928,068 | $55M | 2.0% | 2026-Q2 |
| MARSHALL WACE, LLP trimmed | 2,674,137 | $50M | 1.8% | 2026-Q2 |
| EVENTIDE ASSET MANAGEMENT, LLC added | 2,660,000 | $50M | 1.8% | 2026-Q2 |
| Rubric Capital Management LP trimmed | 2,504,513 | $47M | 1.7% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. trimmed | 2,355,453 | $28M | 1.0% | 2026-Q2 |
| Artia Global Partners LP added | 2,210,852 | $41M | 1.5% | 2026-Q2 |
| ACORN CAPITAL ADVISORS, LLC | 2,144,844 | $40M | 1.5% | 2026-Q2 |
| First Light Asset Management, LLC new | 2,097,215 | $39M | 1.4% | 2026-Q2 |
| Pictet Asset Management Holding SA added | 2,013,786 | $38M | 1.4% | 2026-Q2 |
| Logos Global Management LP trimmed | 1,880,000 | $35M | 1.3% | 2026-Q2 |
| Affinity Asset Advisors, LLC trimmed | 1,800,172 | $34M | 1.2% | 2026-Q2 |
| EMERALD ADVISERS, LLC trimmed | 1,797,611 | $34M | 1.2% | 2026-Q2 |
| Siren, L.L.C. | 1,786,867 | $33M | 1.2% | 2026-Q2 |
| Pivotal bioVenture Partners Investment Advisor LLC added | 1,742,672 | $33M | 1.2% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 1,610,657 | $30M | 1.1% | 2026-Q2 |
| VIKING GLOBAL INVESTORS LP trimmed | 1,544,644 | $29M | 1.1% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ added | 1,532,889 | $29M | 1.1% | 2026-Q2 |
| Assenagon Asset Management S.A. new | 1,525,314 | $28M | 1.0% | 2026-Q2 |
| ORBIMED ADVISORS LLC trimmed | 1,430,293 | $27M | 1.0% | 2026-Q2 |
| Jones Hill Capital LP added | 1,339,212 | $25M | 0.9% | 2026-Q2 |
| NAN FUNG TRINITY (HK) LTD added | 1,213,620 | $23M | 0.8% | 2026-Q2 |
| EMERALD MUTUAL FUND ADVISERS TRUST trimmed | 1,210,965 | $23M | 0.8% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC trimmed | 1,202,520 | $22M | 0.8% | 2026-Q2 |
| Jupiter Topco LLC new | 1,190,973 | $22M | 0.8% | 2026-Q2 |
| Soleus Capital Management, L.P. trimmed | 1,179,618 | $22M | 0.8% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 1,176,872 | $22M | 0.8% | 2026-Q2 |
| BARCLAYS PLC added | 1,142,077 | $21M | 0.8% | 2026-Q2 |
| Saturn V Capital Management LP new | 1,052,043 | $20M | 0.7% | 2026-Q2 |
| FLPUTNAM INVESTMENT MANAGEMENT CO trimmed | 1,038,057 | $19M | 0.7% | 2026-Q2 |
| NORTHERN TRUST CORP added | 1,006,038 | $19M | 0.7% | 2026-Q2 |
| Candriam S.C.A. added | 966,219 | $18M | 0.7% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 965,402 | $18M | 0.7% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. added | 845,087 | $16M | 0.6% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 841,059 | $16M | 0.6% | 2026-Q2 |
| MORGAN STANLEY added | 800,465 | $15M | 0.5% | 2026-Q2 |
| Nuveen, LLC added | 765,176 | $14M | 0.5% | 2026-Q2 |
| Burkehill Global Management, LP added | 725,000 | $14M | 0.5% | 2026-Q2 |
| SILVERARC CAPITAL MANAGEMENT, LLC added | 678,095 | $13M | 0.5% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 622,381 | $12M | 0.4% | 2026-Q2 |
| SUPERSTRING CAPITAL MANAGEMENT LP added | 524,224 | $10M | 0.4% | 2026-Q2 |
| SPHERA FUNDS MANAGEMENT LTD. trimmed | 499,029 | $9M | 0.3% | 2026-Q2 |
| PEREGRINE CAPITAL MANAGEMENT LLC trimmed | 444,310 | $8M | 0.3% | 2026-Q2 |
| KVP Capital Advisors, LP | 414,000 | $8M | 0.3% | 2026-Q2 |
| Ensign Peak Advisors, Inc trimmed | 396,173 | $7M | 0.3% | 2026-Q2 |
| Octagon Capital Advisors LP trimmed | 315,000 | $6M | 0.2% | 2026-Q2 |
| Invesco Ltd. trimmed | 311,749 | $6M | 0.2% | 2026-Q2 |
| Opaleye Management Inc. trimmed | 310,000 | $6M | 0.2% | 2026-Q2 |
| Bank of New York Mellon Corp added | 306,681 | $6M | 0.2% | 2026-Q2 |
| D. E. Shaw & Co., Inc. added | 281,996 | $5M | 0.2% | 2026-Q2 |
| UBS Group AG trimmed | 270,498 | $5M | 0.2% | 2026-Q2 |
| Informed Momentum Co LLC trimmed | 264,631 | $5M | 0.2% | 2026-Q2 |
| FIFTH THIRD BANCORP added | 260,644 | $5M | 0.2% | 2026-Q2 |
| Rock Springs Capital Management LP new | 260,000 | $5M | 0.2% | 2026-Q2 |
| Trexquant Investment LP added | 242,537 | $5M | 0.2% | 2026-Q2 |
| Walleye Capital LLC added | 241,987 | $5M | 0.2% | 2026-Q2 |
| F/m Investments LLC added | 234,208 | $4M | 0.2% | 2026-Q2 |
| Integral Health Asset Management, LLC new | 200,000 | $4M | 0.1% | 2026-Q2 |
| Swiss National Bank added | 192,300 | $4M | 0.1% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 183,225 | $3M | 0.1% | 2026-Q2 |
| PANAGORA ASSET MANAGEMENT INC trimmed | 182,235 | $3M | 0.1% | 2026-Q2 |
| SEVEN GRAND MANAGERS, LLC new | 150,000 | $3M | 0.1% | 2026-Q2 |
| RHUMBLINE ADVISERS added | 132,463 | $2M | 0.1% | 2026-Q2 |
| TRUST CO OF TOLEDO NA /OH/ trimmed | 124,002 | $2M | 0.1% | 2026-Q2 |
| Harvest Investment Services, LLC new | 115,104 | $2M | 0.1% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 114,707 | $2M | 0.1% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 114,487 | $2M | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 108,004 | $2M | 0.1% | 2026-Q2 |
| WINTON GROUP Ltd new | 106,852 | $2M | 0.1% | 2026-Q2 |
| Qube Research & Technologies Ltd added | 102,226 | $2M | 0.1% | 2026-Q2 |
| LMR Partners LLP | 100,000 | $2M | 0.1% | 2026-Q2 |
| OPPENHEIMER & CO INC trimmed | 99,771 | $2M | 0.1% | 2026-Q2 |
| SIMPLEX TRADING, LLC added | 97,557 | $2M | 0.1% | 2026-Q2 |
| VOYA INVESTMENT MANAGEMENT LLC added | 93,562 | $2M | 0.1% | 2026-Q2 |
| Russell Investments Group, Ltd. added | 90,926 | $2M | 0.1% | 2026-Q2 |
| WEXFORD CAPITAL LP | 90,752 | $2M | 0.1% | 2026-Q2 |
| Erste Asset Management GmbH | 90,000 | $2M | 0.1% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 88,057 | $2M | 0.1% | 2026-Q2 |
| STATE OF WISCONSIN INVESTMENT BOARD trimmed | 82,753 | $2M | 0.1% | 2026-Q2 |
| Campbell & CO Investment Adviser LLC added | 81,874 | $2M | 0.1% | 2026-Q2 |
| J. Goldman & Co LP trimmed | 80,998 | $2M | 0.1% | 2026-Q2 |
| Legal & General Group Plc added | 79,220 | $1M | 0.1% | 2026-Q2 |
| PFS Partners, LLC | 79,000 | $1M | 0.1% | 2026-Q2 |
| CITIGROUP INC trimmed | 77,474 | $1M | 0.1% | 2026-Q2 |
| Schonfeld Strategic Advisors LLC new | 75,970 | $1M | 0.1% | 2026-Q2 |
| Checkpoint Capital L.P. added | 75,000 | $1M | 0.1% | 2026-Q2 |
| TUDOR INVESTMENT CORP ET AL added | 73,978 | $1M | 0.1% | 2026-Q2 |
| JPMORGAN CHASE & CO added | 73,273 | $1M | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 72,296 | $1M | 0.0% | 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.