Indivior

INDV • NASDAQ

Indivior is a drug manufacturers - specialty & generic company in the healthcare sector on NASDAQ, led by Joseph J. Ciaffoni, with a market cap of $4.1B. As of Q3 2025, 89% of shares are held by 190 institutional investors, with Two Seas Capital LP as the largest holder at 8.42%.

CEOJoseph J. Ciaffoni

Market Cap$4.1B

Drug Manufacturers - Specialty & Generic

Healthcare

Employees1.2K

Websiteindivior.com

Overview

Overview of institutional ownership in INDV as of Q3 2025 with a market cap of $3.0B

All Institutions

Institutions: 190
Value Held: $2.7B
Shares Held: 110.7M
Avg Position: $14.0M
Median Position: $1.4M

Hedge Funds

Hedge Funds: 44
Value Held: $1.3B
Shares Held: 52.6M
Avg Position: $28.8M
Median Position: $4.6M

Ownership Breakdown

Institutional (non-HF)

46.51%

$1.4B

Hedge Funds

42.19%

$1.3B

Retail & Other

11.3%

$339.8M

Based on market cap of $3.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in INDV as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
T Two Seas Capital LP Hedge Fund•Event Driven	Sina Nmn Toussi CIO	$253.3M 15.22% of portfolio	8.42% 10.5M shares	Q2 2023 Held for 2y 6m	$1.7B
BlackRock, Inc. Institution	Laurence D. Fink CEO	$210.5M 0.00% of portfolio	7.00% 8.7M shares	Q4 2024 Held for 1 year	$5.67T
DEERFIELD MANAGEMENT CO /NY Hedge Fund•Long/Short	James Edward Flynn President	$168.5M 2.79% of portfolio	5.60% 7.0M shares	Q3 2024 Held for 1y 3m	$6.0B
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$158.6M 0.02% of portfolio	5.27% 6.6M shares	Q2 2023 Held for 2y 6m	$691.37B
Madison Avenue Partners, LP Hedge Fund•Value	Eli Jackson Samaha Managing Partner	$155.8M 8.17% of portfolio	5.18% 6.5M shares	Q2 2023 Held for 2y 6m	$1.9B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$135.6M 0.01% of portfolio	4.51% 5.6M shares	Q2 2023 Held for 2y 6m	$1.65T
N Newtyn Management, LLC Hedge Fund•Event Driven	Noah Gabriel Levy Managing Partner	$101.3M 12.40% of portfolio	3.37% 4.2M shares	Q3 2024 Held for 1y 3m	$816.9M
VANGUARD GROUP INC Institution	Salim Ramji CEO	$83.1M 0.00% of portfolio	2.78% 3.5M shares	Q2 2023 Held for 2y 6m	$6.69T
D Divisadero Street Capital Management, LP Hedge Fund•Long/Short	William Zolezzi Managing Partner	$81.1M 3.79% of portfolio	2.70% 3.4M shares	Q2 2025 Held for 6 months	$2.1B
FULLER & THALER ASSET MANAGEMENT, INC. Long Only Manager	Raife Brandon Giovinazzo Managing Partner	$76.4M 0.26% of portfolio	2.54% 3.2M shares	Q3 2025 Held for 3 months	$29.4B

Net Capital Flow

Institutional buying and selling activity for INDV in Q3 2025

Traded: +$389.5M
Buyers: 138
Sellers: 55
Total Bought: +$1.0B
Total Sold: −$612.1M
Avg Position: $13.1M

Biggest Buyers

Institution	Net Bought	Current Position
MORGAN STANLEY RIA/Wealth	+$121.9M +5.1M shares	$135.6M 5.6M shares
D Divisadero Street Capital Management, LP Hedge Fund•Long/Short	+$77.8M +3.2M shares	$81.1M 3.4M shares
FULLER & THALER ASSET MANAGEMENT, INC. Long Only Manager	+$76.4M +3.2M shares	$76.4M 3.2M shares
BlackRock, Inc. Institution	+$73.4M +3.0M shares	$210.5M 8.7M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$62.7M +2.6M shares	$63.2M 2.6M shares
GOLDENTREE ASSET MANAGEMENT LP Hedge Fund•Distressed	+$42.6M +1.8M shares	$42.6M 1.8M shares
N Newtyn Management, LLC Hedge Fund•Event Driven	+$38.4M +1.6M shares	$101.3M 4.2M shares
Soleus Capital Management, L.P. Hedge Fund•Long/Short	+$35.3M +1.5M shares	$35.3M 1.5M shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	+$33.5M +1.4M shares	$69.5M 2.9M shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	+$33.5M +1.4M shares	$33.5M 1.4M shares

Biggest Sellers

Institution	Net Sold	Current Position
DEERFIELD MANAGEMENT CO /NY Hedge Fund•Long/Short	−$86.3M −3.6M shares	$168.5M 7.0M shares
R Rubric Capital Management LP Hedge Fund•Long/Short	−$84.8M −3.5M shares	$27.3M 1.1M shares
GOLDMAN SACHS GROUP INC Institution	−$72.0M −3.0M shares	$158.6M 6.6M shares
VANGUARD GROUP INC Institution	−$52.3M −2.2M shares	$83.1M 3.5M shares
UBS Group AG Institution	−$38.4M −1.6M shares	$19.1M 793.8K shares
LEUCADIA NATIONAL CORP Institution	−$35.8M −1.5M shares	$17.1M 707.2K shares
Madison Avenue Partners, LP Hedge Fund•Value	−$35.2M −1.5M shares	$155.8M 6.5M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$26.2M −1.1M shares	$55.7M 2.3M shares
S SCOPIA CAPITAL MANAGEMENT LLC Hedge Fund•Long/Short	−$24.4M −1.7M shares	Sold Off 0 shares
T Two Seas Capital LP Hedge Fund•Event Driven	−$21.8M −903.6K shares	$253.3M 10.5M shares

Entry and Exit Activity

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

New Positions: 67
New Value: $312.7M
Exited Positions: 14
Exited Value: $47.2M

New Positions

Institution	Position Value
FULLER & THALER ASSET MANAGEMENT, INC. Long Only Manager	$76.4M 3.2M shares
GOLDENTREE ASSET MANAGEMENT LP Hedge Fund•Distressed	$42.6M 1.8M shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	$33.5M 1.4M shares
S SOROS FUND MANAGEMENT LLC Institution	$32.6M 1.4M shares
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	$19.4M 806.2K shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	$14.5M 602.7K shares
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	$10.2M 424.4K shares
P Pacer Advisors, Inc. Institution	$9.1M 376.8K shares
FEDERATED INVESTORS INC /PA/ Long Only Manager	$8.1M 336.8K shares
Woodline Partners LP Hedge Fund•Long/Short	$6.4M 266.0K shares

Exited Positions

Institution	Previous Position
S SCOPIA CAPITAL MANAGEMENT LLC Hedge Fund•Long/Short	$24.4M 1.7M shares
ARDSLEY ADVISORY PARTNERS Hedge Fund•Long/Short	$10.7M 725.0K shares
J Jump Financial, LLC Institution	$2.7M 186.4K shares
A Amundi Institution	$2.7M 177.9K shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$1.9M 128.4K shares
T Tejara Capital Ltd Institution	$1.4M 96.7K shares
COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS Private Equity	$854.6K 58.0K shares
S SIH Partners, LLLP Institution	$515.6K 35.0K shares
S State of Tennessee, Treasury Department Institution	$396.0K 26.9K shares
D Dynamic Technology Lab Private Ltd Institution	$395.5K 26.8K shares

Options Activity

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

Call Positions: 8
Call Value: $49.7M
Put Positions: 3
Put Value: $829.4K

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$21.5M 8.9K contracts
J JANE STREET GROUP, LLC Institution	$10.0M 4.1K contracts
WELLS FARGO & COMPANY/MN Institution	$8.5M 3.5K contracts
Caption Management, LLC Hedge Fund•Long/Short	$3.9M 1.6K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.7M 1.5K contracts
GOLDMAN SACHS GROUP INC Institution	$1.7M 700.0 contracts
S SIG BROKERAGE, LP Institution	$475.0K 197.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$400.2K 166.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$349.6K 145.0 contracts
BANK OF AMERICA CORP /DE/ Institution	$79.6K 33.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
T Two Seas Capital LP Hedge Fund•Event Driven	Sina Nmn Toussi CIO	15.22% $253.3M	8.42% 10.5M shares	Q2 2023 Held for 2y 6m	$1.7B
N Newtyn Management, LLC Hedge Fund•Event Driven	Noah Gabriel Levy Managing Partner	12.40% $101.3M	3.37% 4.2M shares	Q3 2024 Held for 1y 3m	$816.9M
Madison Avenue Partners, LP Hedge Fund•Value	Eli Jackson Samaha Managing Partner	8.17% $155.8M	5.18% 6.5M shares	Q2 2023 Held for 2y 6m	$1.9B
A Alta Fundamental Advisers LLC Hedge Fund•Multi-Strategy	Jeremy Carton Managing Partner	5.57% $11.5M	0.38% 475.0K shares	Q2 2023 Held for 2y 6m	$205.7M
MANGROVE PARTNERS Hedge Fund•Multi-Strategy	Nathaniel Hall August President	4.64% $66.1M	2.20% 2.7M shares	Q3 2024 Held for 1y 3m	$1.4B
DIADEMA PARTNERS LP Hedge Fund•Long/Short	Timothy Beau Bassett CIO	4.28% $6.1M	0.20% 254.3K shares	Q3 2025 Held for 3 months	$143.3M
K Krensavage Asset Management, LLC Hedge Fund•Long/Short	Michael Paul Krensavage CEO	4.10% $8.2M	0.27% 339.5K shares	Q3 2024 Held for 1y 3m	$199.9M
D Divisadero Street Capital Management, LP Hedge Fund•Long/Short	William Zolezzi Managing Partner	3.79% $81.1M	2.70% 3.4M shares	Q2 2025 Held for 6 months	$2.1B
GOLDENTREE ASSET MANAGEMENT LP Hedge Fund•Distressed	Kathryn Layne Sutherland CEO	3.57% $42.6M	1.42% 1.8M shares	Q3 2025 Held for 3 months	$1.2B
DEERFIELD MANAGEMENT CO /NY Hedge Fund•Long/Short	James Edward Flynn President	2.79% $168.5M	5.60% 7.0M shares	Q3 2024 Held for 1y 3m	$6.0B

Hedge Fund Spotlight

Discover hedge funds investing in INDV

Woodline Partners LP

Hedge Fund • Long/Short

Portfolio ManagerMichael Clifford Rockefeller

Portfolio Value: $21.3B
Positions: 868
Last Reported: Q3 2025

Sector Allocation

Position in Indivior

Market Value: $6.4M
Shares Held: 266.0K
Portfolio Weight: 0.03%
Owned Since: 2025-Q3

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