Oruka Therapeutics, Inc.

ORKA • XNAS

Oruka Therapeutics, Inc. is a in vitro & in vivo diagnostic substances company on XNAS, led by Lawrence Klein, with a market cap of $1.5B. As of Q3 2025, 94% of shares are held by 104 institutional investors, with FMR LLC as the largest holder at 15.0%.

CEO of Oruka Therapeutics, Inc.Lawrence Klein

Market Cap$1.5B

IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES

Overview

Overview of institutional ownership in ORKA as of Q3 2025 with a market cap of $930.4M

All Institutions

Institutions: 104
Value Held: $875.8M
Shares Held: 45.6M
Avg Position: $8.4M
Median Position: $556.1K

Hedge Funds

Hedge Funds: 20
Value Held: $387.2M
Shares Held: 20.2M
Avg Position: $19.4M
Median Position: $11.9M

Ownership Breakdown

Institutional (non-HF)

52.52%

$488.6M

Hedge Funds

41.62%

$387.2M

Retail & Other

5.87%

$54.6M

Based on market cap of $930.4M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in ORKA as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
FMR LLC Institution	-	$139.6M 0.01% of portfolio	15.00% 7.3M shares	Q3 2024 Held for 1y 2m	$1.92T
VR Adviser, LLC Venture Capital	Jessica Tong Baron CFO	$79.8M 4.49% of portfolio	8.57% 4.1M shares	Q3 2024 Held for 1y 2m	$1.8B
Fairmount Funds Management LLC Hedge Fund•Sector	Peter Evan Harwin Managing Partner	$71.3M 6.41% of portfolio	7.66% 3.7M shares	Q3 2024 Held for 1y 2m	$1.1B
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	Ole Andreas Halvorsen CEO	$51.3M 0.13% of portfolio	5.51% 2.7M shares	Q3 2025 Held for 2 months	$38.5B
Deep Track Capital, LP Hedge Fund•Long/Short	David Eric Kroin CIO	$51.1M 1.45% of portfolio	5.49% 2.7M shares	Q3 2024 Held for 1y 2m	$3.5B
B BlackRock, Inc. Institution	-	$42.4M 0.00% of portfolio	4.56% 2.2M shares	Q3 2024 Held for 1y 2m	$5.67T
RTW INVESTMENTS, LLC Hedge Fund•Sector	Peter M Fong President	$37.4M 0.46% of portfolio	4.02% 1.9M shares	Q3 2024 Held for 1y 2m	$8.1B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$34.2M 0.00% of portfolio	3.67% 1.8M shares	Q3 2024 Held for 1y 2m	$6.69T
COMMODORE CAPITAL LP Hedge Fund•Long/Short	Michael Jonathan Kramarz Managing Partner	$33.7M 1.65% of portfolio	3.62% 1.8M shares	Q3 2024 Held for 1y 2m	$2.0B
B BRAIDWELL LP Hedge Fund•Multi-Strategy	Brian James Kreiter CEO	$26.6M 1.08% of portfolio	2.86% 1.4M shares	Q3 2024 Held for 1y 2m	$2.5B

Net Capital Flow

Institutional buying and selling activity for ORKA in Q3 2025

Traded: +$220.9M
Buyers: 62
Sellers: 30
Total Bought: +$242.9M
Total Sold: −$22.0M
Avg Position: $7.8M

Biggest Buyers

Institution	Net Bought	Current Position
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	+$51.3M +2.7M shares	$51.3M 2.7M shares
FMR LLC Institution	+$31.6M +1.6M shares	$139.6M 7.3M shares
venBio Select Advisor LLC RIA/Wealth	+$25.6M +1.3M shares	$25.6M 1.3M shares
PERCEPTIVE ADVISORS LLC Hedge Fund•Long/Short	+$24.4M +1.3M shares	$24.4M 1.3M shares
Deep Track Capital, LP Hedge Fund•Long/Short	+$14.2M +736.0K shares	$51.1M 2.7M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	+$13.6M +707.0K shares	$19.9M 1.0M shares
C Cormorant Asset Management, LLC Hedge Fund•Long/Short	+$10.3M +533.3K shares	$10.3M 533.3K shares
Affinity Asset Advisors, LLC Hedge Fund•Long/Short	+$6.8M +355.7K shares	$18.4M 959.2K shares
Fairmount Funds Management LLC Hedge Fund•Sector	+$6.4M +333.3K shares	$71.3M 3.7M shares
COMMODORE CAPITAL LP Hedge Fund•Long/Short	+$6.4M +333.3K shares	$33.7M 1.8M shares

Biggest Sellers

Institution	Net Sold	Current Position
Frazier Life Sciences Management, L.P. Venture Capital	−$6.5M −583.3K shares	Sold Off 0 shares
B BRAIDWELL LP Hedge Fund•Multi-Strategy	−$2.7M −142.5K shares	$26.6M 1.4M shares
A ADAR1 Capital Management, LLC Hedge Fund•Long/Short	−$2.3M −121.9K shares	$400.8K 20.8K shares
Cable Car Capital LLC Hedge Fund•Long/Short	−$1.9M −100.0K shares	$9.6M 500.0K shares
SILVERARC CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	−$1.9M −165.4K shares	Sold Off 0 shares
MORGAN STANLEY RIA/Wealth	−$1.4M −73.5K shares	$2.6M 134.8K shares
GOLDMAN SACHS GROUP INC Institution	−$1.0M −52.5K shares	$380.3K 19.8K shares
VANGUARD GROUP INC Institution	−$781.5K −40.6K shares	$34.2M 1.8M shares
Ikarian Capital, LLC Hedge Fund•Event Driven	−$768.7K −68.6K shares	Sold Off 0 shares
UBS Group AG Institution	−$463.2K −24.1K shares	$1.7M 86.6K shares

Entry and Exit Activity

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

New Positions: 27
New Value: $98.4M
Exited Positions: 8
Exited Value: $10.0M

New Positions

Institution	Position Value
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	$51.3M 2.7M shares
venBio Select Advisor LLC RIA/Wealth	$25.6M 1.3M shares
C Cormorant Asset Management, LLC Hedge Fund•Long/Short	$10.3M 533.3K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$6.1M 316.9K shares
R Resolute Capital Asset Partners LLC Hedge Fund•Long/Short	$1.4M 75.0K shares
P Palo Alto Investors, LLC Hedge Fund•Long/Short	$791.3K 60.0K shares
F Financial Enhancement Group LLC RIA/Wealth	$742.2K 32.8K shares
A AMERICAN CENTURY COMPANIES INC Institution	$656.0K 34.1K shares
SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth	$563.0K 29.2K shares
Empirical Financial Services, LLC RIA/Wealth	$296.3K 15.4K shares

Exited Positions

Institution	Previous Position
Frazier Life Sciences Management, L.P. Venture Capital	$6.5M 583.3K shares
SILVERARC CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short	$1.9M 165.4K shares
Ikarian Capital, LLC Hedge Fund•Event Driven	$768.7K 68.6K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$380.7K 34.0K shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$213.0K 19.0K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	$155.8K 13.9K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$138.2K 12.3K shares
Caitong International Asset Management Co., Ltd RIA/Wealth	$11.0 1.0 shares

Options Activity

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

Call Positions: 2
Call Value: $488.4K
Put Positions: 3
Put Value: $2.7M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$248.1K 129.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$240.4K 125.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.4M 726.0 contracts
J JANE STREET GROUP, LLC Institution	$1.1M 562.0 contracts
Caption Management, LLC Hedge Fund•Long/Short	$217.3K 113.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Cable Car Capital LLC Hedge Fund•Long/Short	Evan Howell Eurich COO	8.06% $9.6M	1.03% 500.0K shares	Q3 2024 Held for 1y 2m	$119.3M
Fairmount Funds Management LLC Hedge Fund•Sector	Peter Evan Harwin Managing Partner	6.41% $71.3M	7.66% 3.7M shares	Q3 2024 Held for 1y 2m	$1.1B
VR Adviser, LLC Venture Capital	Jessica Tong Baron CFO	4.49% $79.8M	8.57% 4.1M shares	Q3 2024 Held for 1y 2m	$1.8B
A Avidity Partners Management LP Hedge Fund•Long/Short	Michael David Gregory President	2.96% $12.7M	1.36% 660.4K shares	Q3 2024 Held for 1y 2m	$429.1M
Affinity Asset Advisors, LLC Hedge Fund•Long/Short	Jonathan Bo-Shing Chu Founder	1.88% $18.4M	1.98% 959.2K shares	Q3 2024 Held for 1y 2m	$983.0M
B B Group, Inc. Institution	-	1.67% $1.4M	0.16% 75.0K shares	Q4 2024 Held for 11 months	$86.6M
COMMODORE CAPITAL LP Hedge Fund•Long/Short	Michael Jonathan Kramarz Managing Partner	1.65% $33.7M	3.62% 1.8M shares	Q3 2024 Held for 1y 2m	$2.0B
G GREAT POINT PARTNERS LLC Private Equity	Jeffrey Robert Jay Managing Partner	1.55% $3.5M	0.38% 183.3K shares	Q3 2025 Held for 2 months	$226.8M
Deep Track Capital, LP Hedge Fund•Long/Short	David Eric Kroin CIO	1.45% $51.1M	5.49% 2.7M shares	Q3 2024 Held for 1y 2m	$3.5B
SR ONE CAPITAL MANAGEMENT, LP Venture Capital	Simeon John George CEO	1.20% $8.3M	0.89% 430.3K shares	Q3 2024 Held for 1y 2m	$691.4M

Hedge Fund Spotlight

Discover hedge funds investing in ORKA

Deep Track Capital, LP

Hedge Fund • Long/Short

Portfolio ManagerDavid Eric Kroin

Portfolio Value: $3.5B
Positions: 55
Last Reported: Q3 2025

Sector Allocation

Position in Oruka Therapeutics, Inc.

Market Value: $51.1M
Shares Held: 2.7M
Portfolio Weight: 1.45%
Owned Since: 2024-Q3

Top Holding	Sector	Market Value	Weight
1 Guardant Health GH	Medical - Diagnostics & Research Healthcare	$259.5M	7.38%
2 Ionis Pharmaceuticals IONS	Biotechnology Healthcare	$249.1M	7.08%
3 Cytokinetics CYTK	Biotechnology Healthcare	$236.3M	6.72%