Avadel Pharmaceuticals

AVDL • NASDAQ

Avadel Pharmaceuticals is a drug manufacturers - specialty & generic company in the healthcare sector on NASDAQ, led by Gregory J. Divis, with a market cap of $2.1B. As of Q3 2025, 184 institutional investors hold shares in this company, with total holdings valued at $1.2B. HENDERSON GROUP PLC is the largest holder with a position valued at $113.4M.

Chief Executive OfficerGregory J. Divis

Market Cap$2.1B

Drug Manufacturers - Specialty & Generic

Healthcare

Employees154.0

Websiteavadel.com

Country

United States of America

Overview

Overview of institutional ownership in AVDL as of Q3 2025 with a market cap of $1.5B

All Institutions

Institutions: 184
Value Held: $1.2B
Shares Held: 79.7M
Avg Position: $6.6M
Median Position: $577.6K

Hedge Funds

Hedge Funds: 30
Value Held: $185.2M
Shares Held: 12.1M
Avg Position: $6.2M
Median Position: $1.2M

Ownership Breakdown

Institutional (non-HF)

69.57%

$1.0B

Hedge Funds

12.49%

$185.2M

Retail & Other

17.93%

$265.9M

Based on market cap of $1.5B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in AVDL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
HENDERSON GROUP PLC Institution	Ali Dibadj CEO	$113.4M 0.05% of portfolio	7.65% 7.4M shares	Q4 2022 Held for 2y 11m	$218.74B
B BlackRock, Inc. Institution	-	$106.5M 0.00% of portfolio	7.18% 7.0M shares	Q4 2020 Held for 4y 11m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$85.6M 0.00% of portfolio	5.77% 5.6M shares	Q2 2024 Held for 1y 5m	$6.69T
B BRANDES INVESTMENT PARTNERS, LP Long Only Manager	Oliver Michael Murray CEO	$83.1M 0.67% of portfolio	5.61% 5.4M shares	Q4 2017 Held for 7y 11m	$12.5B
T Two Seas Capital LP Hedge Fund•Event Driven	Sina Nmn Toussi CIO	$82.0M 4.93% of portfolio	5.53% 5.4M shares	Q1 2024 Held for 1y 8m	$1.7B
G GENDELL JEFFREY L Institution	-	$81.2M 1.48% of portfolio	5.47% 5.3M shares	Q3 2019 Held for 6y 2m	$5.5B
Polar Capital Holdings Plc Long Only Manager	Gavin Mark Rochussen CEO	$61.1M 0.29% of portfolio	4.12% 4.0M shares	Q4 2020 Held for 4y 11m	$20.8B
Vivo Capital, LLC Venture Capital	Jack Bech Nielsen Managing Partner	$41.0M 3.30% of portfolio	2.76% 2.7M shares	Q1 2020 Held for 5y 8m	$1.2B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$35.0M 0.00% of portfolio	2.36% 2.3M shares	Q2 2020 Held for 5y 5m	$2.88T
WEALTH EFFECTS LLC RIA/Wealth	William Anthony Liberti CEO	$35.0M 11.26% of portfolio	2.36% 2.3M shares	Q4 2021 Held for 3y 11m	$310.3M

Net Capital Flow

Institutional buying and selling activity for AVDL in Q3 2025

Traded: −$11.5M
Buyers: 94
Sellers: 75
Total Bought: +$128.9M
Total Sold: −$140.3M
Avg Position: $6.0M

Biggest Buyers

Institution	Net Bought	Current Position
BANK OF AMERICA CORP /DE/ Institution	+$18.2M +1.2M shares	$20.4M 1.3M shares
MORGAN STANLEY RIA/Wealth	+$16.3M +1.1M shares	$34.5M 2.3M shares
KENNEDY CAPITAL MANAGEMENT, INC. Long Only Manager	+$9.9M +645.5K shares	$24.8M 1.6M shares
Marshall Wace LLP Institution	+$8.0M +525.7K shares	$8.0M 525.7K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$7.9M +516.2K shares	$8.5M 554.5K shares
J JANE STREET GROUP, LLC Institution	+$7.3M +475.1K shares	$8.5M 559.6K shares
JPMORGAN CHASE & CO Institution	+$6.9M +453.6K shares	$8.6M 565.5K shares
B BNP PARIBAS ARBITRAGE, SA Institution	+$6.6M +434.5K shares	$7.0M 457.3K shares
J Jump Financial, LLC Institution	+$6.3M +410.9K shares	$8.4M 549.8K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$4.6M +302.5K shares	$8.5M 556.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
HENDERSON GROUP PLC Institution	−$56.5M −3.7M shares	$113.4M 7.4M shares
B BRANDES INVESTMENT PARTNERS, LP Long Only Manager	−$15.9M −1.0M shares	$83.1M 5.4M shares
T Two Seas Capital LP Hedge Fund•Event Driven	−$12.0M −786.0K shares	$82.0M 5.4M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$7.2M −470.4K shares	$16.2M 1.1M shares
I Invenomic Capital Management LP Hedge Fund•Long/Short	−$7.1M −803.0K shares	Sold Off 0 shares
T Tri Locum Partners LP Hedge Fund•Long/Short	−$4.4M −289.6K shares	$11.1M 724.9K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$4.3M −280.6K shares	$3.7M 239.9K shares
D DARK FOREST CAPITAL MANAGEMENT LP Pension/Endowment	−$3.8M −248.2K shares	$716.2K 46.9K shares
Invesco Ltd. ETF Provider	−$3.1M −206.3K shares	$8.3M 542.6K shares
UBS Group AG Institution	−$3.0M −197.3K shares	$10.4M 678.0K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited AVDL in Q3 2025

New Positions: 18
New Value: $4.4M
Exited Positions: 17
Exited Value: $13.7M

New Positions

Institution	Position Value
RFG Advisory Group, LLC RIA/Wealth	$1.1M 73.9K shares
W Winton Capital Group Ltd Institution	$727.4K 47.6K shares
Numerai GP LLC Hedge Fund•Quant	$532.9K 34.9K shares
Q Quantedge Capital Pte Ltd Institution	$340.5K 22.3K shares
Virtus ETF Advisers LLC Long Only Manager	$250.2K 16.4K shares
P PROFUND ADVISORS LLC Institution	$248.4K 16.3K shares
B Baader Bank INC Institution	$229.1K 15.0K shares
Susquehanna Portfolio Strategies, LLC Private Equity	$206.9K 13.6K shares
P Petrus Trust Company, LTA Institution	$178.0K 11.7K shares
R Rafferty Asset Management, LLC Institution	$163.8K 10.7K shares

Exited Positions

Institution	Previous Position
I Invenomic Capital Management LP Hedge Fund•Long/Short	$7.1M 803.0K shares
C Cubist Systematic Strategies, LLC Institution	$2.4M 273.7K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$1.8M 202.8K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$689.9K 78.0K shares
Q Quarry LP Institution	$339.0K 38.3K shares
Mach-1 Financial Group, Inc. RIA/Wealth	$328.0K 37.1K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$232.9K 26.3K shares
F FOX RUN MANAGEMENT, L.L.C. Hedge Fund•Quant	$189.7K 21.4K shares
D Dynamic Technology Lab Private Ltd Institution	$154.3K 17.4K shares
A ATRIA INVESTMENTS LLC Institution	$149.0K 16.8K shares

Options Activity

Institutions with the largest Call and Put options positions in AVDL as of Q3 2025

Call Positions: 11
Call Value: $28.0M
Put Positions: 6
Put Value: $17.0M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$24.0M 15.7K contracts
J JANE STREET GROUP, LLC Institution	$1.7M 1.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$728.4K 477.0 contracts
D D. E. Shaw & Co., Inc. Institution	$655.1K 429.0 contracts
W WOLVERINE TRADING, LLC Institution	$378.2K 247.0 contracts
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$308.5K 202.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$169.5K 111.0 contracts
MAI Wealth Advisors RIA/Wealth	$82.5K - contracts
JOURNEY STRATEGIC WEALTH LLC RIA/Wealth	$400.0 100.0 contracts
D DRW Securities, LLC Institution	- - contracts

Put Positions

Institution	Position Value
Hudson Bay Capital Management LP Hedge Fund•Multi-Strategy	$11.5M 7.5K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.0M 2.0K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.1M 1.4K contracts
D D. E. Shaw & Co., Inc. Institution	$177.1K 116.0 contracts
J JANE STREET GROUP, LLC Institution	$161.9K 106.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$55.0K 36.0 contracts

Most Committed Institutions

Institutions with AVDL as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
WEALTH EFFECTS LLC RIA/Wealth	William Anthony Liberti CEO	11.26% $35.0M	2.36% 2.3M shares	Q4 2021 Held for 3y 11m	$310.3M
K Krensavage Asset Management, LLC Hedge Fund•Long/Short	Michael Paul Krensavage CEO	7.30% $14.6M	0.98% 955.9K shares	Q1 2025 Held for 8 months	$199.9M
SILVERBACK ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	Elliot Glen Bossen CEO	6.21% $1.7M	0.11% 110.0K shares	Q3 2022 Held for 3y 2m	$27.0M
L Lion Point Capital, LP Hedge Fund•Event Driven	Carl Didric Marcus Cederholm CIO	5.18% $911.6K	0.06% 59.7K shares	Q3 2023 Held for 2y 2m	$17.6M
T Two Seas Capital LP Hedge Fund•Event Driven	Sina Nmn Toussi CIO	4.93% $82.0M	5.53% 5.4M shares	Q1 2024 Held for 1y 8m	$1.7B
K Knoll Capital Management, LP Institution	-	4.91% $9.2M	0.62% 600.0K shares	Q4 2022 Held for 2y 11m	$186.6M
Vivo Capital, LLC Venture Capital	Jack Bech Nielsen Managing Partner	3.30% $41.0M	2.76% 2.7M shares	Q1 2020 Held for 5y 8m	$1.2B
T Tri Locum Partners LP Hedge Fund•Long/Short	Prashanth Nmn Jayaram CIO	2.54% $11.1M	0.75% 724.9K shares	Q4 2022 Held for 2y 11m	$435.1M
K Knott David M Jr Institution	-	2.32% $5.5M	0.37% 363.0K shares	Q4 2021 Held for 3y 11m	$238.7M
IRIDIAN ASSET MANAGEMENT LLC/CT Hedge Fund•Long/Short	Todd Dunkin Raker CEO	1.50% $3.8M	0.26% 249.6K shares	Q2 2023 Held for 2y 5m	$254.1M