Axogen

AXGN • NASDAQ

Axogen is a medical - devices company in the healthcare sector on NASDAQ, led by Michael Dale, with a market cap of $1.5B. As of Q3 2025, 89% of shares are held by 169 institutional investors, with First Light Asset Management, LLC as the largest holder at 12.62%.

Chief Executive OfficerMichael Dale

Market Cap$1.5B

Medical - Devices

Healthcare

Employees428.0

Websiteaxogeninc.com

Country

United States of America

Overview

Overview of institutional ownership in AXGN as of Q3 2025 with a market cap of $820.9M

All Institutions

Institutions: 169
Value Held: $732.8M
Shares Held: 41.1M
Avg Position: $4.3M
Median Position: $599.4K

Hedge Funds

Hedge Funds: 30
Value Held: $274.0M
Shares Held: 15.4M
Avg Position: $9.1M
Median Position: $1.3M

Ownership Breakdown

Institutional (non-HF)

55.9%

$458.9M

Hedge Funds

33.38%

$274.0M

Retail & Other

10.72%

$88.0M

Based on market cap of $820.9M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in AXGN as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
First Light Asset Management, LLC Hedge Fund•Sector	Mathew Paul Arens CEO	$103.6M 9.76% of portfolio	12.62% 5.8M shares	Q3 2020 Held for 5y 2m	$1.1B
B BlackRock, Inc. Institution	-	$64.4M 0.00% of portfolio	7.84% 3.6M shares	Q2 2016 Held for 9y 5m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$47.8M 0.00% of portfolio	5.82% 2.7M shares	Q3 2013 Held for 12y 2m	$6.69T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$43.3M 0.00% of portfolio	5.28% 2.4M shares	Q4 2013 Held for 11y 11m	$1.65T
A Arrowpoint Asset Management, LLC Hedge Fund•Multi-Strategy	David John Corkins Managing Partner	$34.9M 0.65% of portfolio	4.26% 2.0M shares	Q1 2018 Held for 7y 8m	$5.4B
Soleus Capital Management, L.P. Hedge Fund•Long/Short	Guy Bezalel Levy CIO	$30.8M 1.68% of portfolio	3.75% 1.7M shares	Q3 2022 Held for 3y 2m	$1.8B
WASATCH ADVISORS INC Long Only Manager	Michael Kenneth Yeates CEO	$29.2M 0.16% of portfolio	3.56% 1.6M shares	Q1 2025 Held for 8 months	$18.6B
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dmitry Balyasny CIO	$24.6M 0.05% of portfolio	3.00% 1.4M shares	Q4 2024 Held for 11 months	$48.1B
A Assenagon Asset Management S.A. Institution	-	$23.0M 0.03% of portfolio	2.80% 1.3M shares	Q2 2020 Held for 5y 5m	$67.7B
ARMISTICE CAPITAL, LLC Hedge Fund•Long/Short	Steven Joseph Boyd Managing Partner	$21.4M 0.68% of portfolio	2.61% 1.2M shares	Q3 2024 Held for 1y 2m	$3.2B

Net Capital Flow

Institutional buying and selling activity for AXGN in Q3 2025

Net Flow: −$7.2M
Buyers: 61
Sellers: 68
Total Bought: +$77.7M
Total Sold: −$84.9M
Avg Position: $4.3M

Biggest Buyers

Institution	Net Bought	Current Position
First Light Asset Management, LLC Hedge Fund•Sector	+$22.8M +1.3M shares	$103.6M 5.8M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$8.2M +459.7K shares	$8.7M 488.8K shares
A Arrowpoint Asset Management, LLC Hedge Fund•Multi-Strategy	+$5.9M +332.5K shares	$34.9M 2.0M shares
Soleus Capital Management, L.P. Hedge Fund•Long/Short	+$4.8M +267.2K shares	$30.8M 1.7M shares
A Assenagon Asset Management S.A. Institution	+$4.7M +266.0K shares	$23.0M 1.3M shares
F First Eagle Investment Management, LLC Long Only Manager	+$4.5M +253.9K shares	$7.7M 431.8K shares
WASATCH ADVISORS INC Long Only Manager	+$3.7M +205.6K shares	$29.2M 1.6M shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$2.6M +145.4K shares	$2.8M 156.3K shares
P PRIMORIS WEALTH ADVISORS, LLC RIA/Wealth	+$2.3M +127.4K shares	$2.6M 143.1K shares
Trexquant Investment LP Hedge Fund•Quant	+$2.2M +124.1K shares	$2.2M 124.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$9.8M −551.5K shares	$24.6M 1.4M shares
Q Qube Research & Technologies Ltd Institution	−$9.7M −545.2K shares	$3.3M 183.6K shares
Marshall Wace LLP Institution	−$8.1M −454.1K shares	$3.3M 187.3K shares
S Squarepoint Ops LLC Hedge Fund•Quant	−$7.3M −407.7K shares	$1.4M 75.9K shares
D D. E. Shaw & Co., Inc. Institution	−$4.9M −274.3K shares	$3.1M 174.1K shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	−$3.8M −347.7K shares	Sold Off 0 shares
Parkman Healthcare Partners LLC Hedge Fund•Long/Short	−$3.1M −172.7K shares	$9.0M 501.8K shares
Prosight Management, LP Hedge Fund•Long/Short	−$3.1M −282.8K shares	Sold Off 0 shares
JPMORGAN CHASE & CO Institution	−$3.0M −170.1K shares	$3.7M 209.0K shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	−$2.4M −134.3K shares	$1.1M 62.7K shares

Entry and Exit Activity

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

New Positions: 13
New Value: $28.5M
Exited Positions: 17
Exited Value: $12.9M

New Positions

Institution	Position Value
B BESSEMER GROUP INC Institution	$14.5M 811.0K shares
B BROWN CAPITAL MANAGEMENT LLC Long Only Manager	$11.5M 644.6K shares
Susquehanna Portfolio Strategies, LLC Private Equity	$1.7M 93.4K shares
Cannon Global Investment Management, LLC Hedge Fund•Quant	$303.3K 17.0K shares
FourThought Financial Partners, LLC RIA/Wealth	$292.7K 16.4K shares
Diversified Trust Co RIA/Wealth	$212.5K 11.9K shares
S State of Alaska, Department of Revenue Institution	$43.2K 2.4K shares
F Future Financial Wealth Managment LLC RIA/Wealth	$26.8K 1.5K shares
FIRST HORIZON NATIONAL CORP RIA/Wealth	$18.3K 1.0K shares
O Optiver Holding B.V. Institution	$8.9K 498.0 shares

Exited Positions

Institution	Previous Position
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	$3.8M 347.7K shares
Prosight Management, LP Hedge Fund•Long/Short	$3.1M 282.8K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$1.5M 142.0K shares
PRUDENTIAL FINANCIAL INC Institution	$1.4M 131.7K shares
UBS OCONNOR LLC Long Only Manager	$883.5K 81.4K shares
H HUSSMAN STRATEGIC ADVISORS, INC. Institution	$683.6K 63.0K shares
CenterBook Partners LP Hedge Fund•Market Neutral	$404.5K 37.3K shares
UNITED CAPITAL FINANCIAL ADVISERS, LLC RIA/Wealth	$228.2K 21.0K shares
O OneAscent Financial Services LLC RIA/Wealth	$194.4K 17.9K shares
Atom Investors LP Hedge Fund•Market Neutral	$187.2K 17.3K shares

Options Activity

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

Call Positions: 4
Call Value: $1.5M
Put Positions: 1
Put Value: $255.1K

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$651.2K 365.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$581.6K 326.0 contracts
J JANE STREET GROUP, LLC Institution	$308.6K 173.0 contracts
UBS OCONNOR LLC Long Only Manager	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$255.1K 143.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
First Light Asset Management, LLC Hedge Fund•Sector	Mathew Paul Arens CEO	9.76% $103.6M	12.62% 5.8M shares	Q3 2020 Held for 5y 2m	$1.1B
PERKINS CAPITAL MANAGEMENT INC RIA/Wealth	Richard Charles Perkins President	3.71% $4.2M	0.51% 236.1K shares	Q3 2020 Held for 5y 2m	$113.5M
D DAFNA Capital Management LLC Hedge Fund•Event Driven	Nathan Fischel CEO	3.33% $13.2M	1.61% 742.3K shares	Q4 2021 Held for 3y 11m	$397.7M
R Roubaix Capital, LLC Hedge Fund•Long/Short	Christopher Edmund Hillary CEO	1.76% $3.9M	0.47% 216.9K shares	Q3 2025 Held for 2 months	$220.3M
Soleus Capital Management, L.P. Hedge Fund•Long/Short	Guy Bezalel Levy CIO	1.68% $30.8M	3.75% 1.7M shares	Q3 2022 Held for 3y 2m	$1.8B
B Birchview Capital, LP Hedge Fund•Value	Matthew William Strobeck CIO	1.63% $2.1M	0.26% 119.1K shares	Q2 2023 Held for 2y 5m	$130.3M
P PRIMORIS WEALTH ADVISORS, LLC RIA/Wealth	Raymond L Eaton Managing Partner	1.63% $2.6M	0.31% 143.1K shares	Q3 2024 Held for 1y 2m	$156.9M
HighMark Wealth Management LLC RIA/Wealth	Matthew Wayne Goff CIO	1.45% $3.3M	0.40% 185.1K shares	Q3 2020 Held for 5y 2m	$227.1M
Parkman Healthcare Partners LLC Hedge Fund•Long/Short	Gregory Arthur Martinez CIO	0.98% $9.0M	1.09% 501.8K shares	Q3 2024 Held for 1y 2m	$910.1M
Cannon Global Investment Management, LLC Hedge Fund•Quant	Thomas Nmn Morphet CEO	0.77% $303.3K	0.04% 17.0K shares	Q3 2025 Held for 2 months	$39.5M

Hedge Fund Spotlight

Discover hedge funds investing in AXGN

Cannon Global Investment Management, LLC

Hedge Fund • Quant

Portfolio ManagerThomas Nmn Morphet

Portfolio Value: $39.5M
Positions: 57
Last Reported: Q3 2025

Sector Allocation

Position in Axogen

Market Value: $303.3K
Shares Held: 17.0K
Portfolio Weight: 0.77%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 Norfolk Southern NSC	Railroads Industrials	$1.7M	4.41%
2 Sun Communities SUI	REIT - Residential Real Estate	$1.7M	4.41%
3 Cheniere Energy LNG	Oil & Gas Midstream Energy	$1.7M	4.34%