Theravance Biopharma

TBPH • NASDAQ

Theravance Biopharma is a biotechnology company in the healthcare sector on NASDAQ, led by Rick E. Winningham, with a market cap of $920.7M. As of Q3 2025, 96% of shares are held by 160 institutional investors, with Madison Avenue Partners, LP as the largest holder at 18.89%.

CEO of Theravance Biopharma, Inc.Rick E. Winningham

Market Cap$920.7M

Biotechnology

Healthcare

Employees99.0

Websitetheravance.com

Country

United States of America

Overview

Overview of institutional ownership in TBPH as of Q3 2025 with a market cap of $735.3M

All Institutions

Institutions: 160
Value Held: $706.3M
Shares Held: 48.4M
Avg Position: $4.4M
Median Position: $336.8K

Hedge Funds

Hedge Funds: 33
Value Held: $412.7M
Shares Held: 28.3M
Avg Position: $12.5M
Median Position: $682.6K

Ownership Breakdown

Institutional (non-HF)

39.93%

$293.6M

Hedge Funds

56.12%

$412.7M

Retail & Other

3.94%

$29.0M

Based on market cap of $735.3M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TBPH as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Madison Avenue Partners, LP Hedge Fund•Value	Eli Jackson Samaha Managing Partner	$138.9M 7.28% of portfolio	18.89% 9.5M shares	Q3 2021 Held for 4y 2m	$1.9B
Weiss Asset Management LP Hedge Fund•Multi-Strategy	Andrew Murray Weiss CEO	$108.9M 2.09% of portfolio	14.81% 7.5M shares	Q4 2021 Held for 3y 11m	$5.2B
N Newtyn Management, LLC Hedge Fund•Event Driven	Noah Gabriel Levy Managing Partner	$72.3M 8.85% of portfolio	9.83% 5.0M shares	Q3 2021 Held for 4y 2m	$816.9M
B BlackRock, Inc. Institution	-	$59.4M 0.00% of portfolio	8.08% 4.1M shares	Q2 2014 Held for 11y 5m	$5.67T
Irenic Capital Management LP Hedge Fund•Activist	Adam Jason Katz CIO	$40.3M 8.59% of portfolio	5.48% 2.8M shares	Q4 2022 Held for 2y 11m	$469.3M
VANGUARD GROUP INC Institution	Salim Ramji CEO	$32.3M 0.00% of portfolio	4.39% 2.2M shares	Q2 2014 Held for 11y 5m	$6.69T
Park West Asset Management LLC Hedge Fund•Multi-Strategy	Peter Sang Hun Park CIO	$18.7M 1.71% of portfolio	2.55% 1.3M shares	Q1 2022 Held for 3y 8m	$1.1B
D D. E. Shaw & Co., Inc. Institution	-	$17.7M 0.02% of portfolio	2.40% 1.2M shares	Q2 2014 Held for 11y 5m	$115.81B
O Oasis Management Co Ltd. Institution	-	$16.3M 3.60% of portfolio	2.22% 1.1M shares	Q3 2022 Held for 3y 2m	$453.2M
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	Gillian Morna Therese Savage CEO	$15.9M 0.03% of portfolio	2.16% 1.1M shares	Q3 2024 Held for 1y 2m	$51.5B

Net Capital Flow

Institutional buying and selling activity for TBPH in Q3 2025

Traded: +$44.2M
Buyers: 86
Sellers: 50
Total Bought: +$74.9M
Total Sold: −$30.7M
Avg Position: $4.1M

Biggest Buyers

Institution	Net Bought	Current Position
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	+$11.4M +780.7K shares	$15.9M 1.1M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$10.6M +726.8K shares	$10.6M 726.8K shares
A Assenagon Asset Management S.A. Institution	+$5.7M +390.7K shares	$6.1M 414.7K shares
Hillsdale Investment Management Inc. Long Only Manager	+$4.5M +310.7K shares	$4.5M 310.7K shares
Marshall Wace LLP Institution	+$3.8M +256.9K shares	$5.2M 357.7K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$3.1M +213.5K shares	$3.4M 231.3K shares
D D. E. Shaw & Co., Inc. Institution	+$3.0M +207.5K shares	$17.7M 1.2M shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	+$2.9M +199.7K shares	$2.9M 199.7K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	+$2.5M +171.2K shares	$2.9M 200.3K shares
LOS ANGELES CAPITAL MANAGEMENT & EQUITY RESEARCH INC Long Only Manager	+$2.4M +161.6K shares	$2.6M 181.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
Park West Asset Management LLC Hedge Fund•Multi-Strategy	−$7.5M −515.0K shares	$18.7M 1.3M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$6.3M −434.5K shares	$742.7K 50.9K shares
LEUCADIA NATIONAL CORP Institution	−$3.1M −276.9K shares	Sold Off 0 shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	−$2.1M −145.5K shares	$745.3K 51.0K shares
C Cubist Systematic Strategies, LLC Institution	−$1.8M −122.3K shares	$194.8K 13.3K shares
C Capitolis Liquid Global Markets LLC Private Equity	−$1.4M −127.2K shares	Sold Off 0 shares
B BlackRock, Inc. Institution	−$1.0M −70.0K shares	$59.4M 4.1M shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	−$668.2K −45.8K shares	$1.3M 92.2K shares
J Jump Financial, LLC Institution	−$558.8K −38.3K shares	$595.7K 40.8K shares
R Russell Investments Group, Ltd. RIA/Wealth	−$546.5K −37.4K shares	$73.9K 5.1K shares

Entry and Exit Activity

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

New Positions: 15
New Value: $3.7M
Exited Positions: 11
Exited Value: $5.8M

New Positions

Institution	Position Value
W Winton Capital Group Ltd Institution	$1.1M 76.5K shares
B Baader Bank INC Institution	$781.1K 53.5K shares
Numerai GP LLC Hedge Fund•Quant	$412.2K 28.2K shares
Integrated Quantitative Investments LLC Long Only Manager	$367.5K 25.2K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$295.0K 20.2K shares
Longboard Asset Management, LP Long Only Manager	$191.3K 13.1K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$178.5K 12.2K shares
P PharVision Advisers, LLC Hedge Fund•Long/Short	$157.0K 10.8K shares
V Vestcor Investment Management Corp Institution	$140.0K 9.6K shares
Q Quarry LP Institution	$25.9K 1.8K shares

Exited Positions

Institution	Previous Position
LEUCADIA NATIONAL CORP Institution	$3.1M 276.9K shares
C Capitolis Liquid Global Markets LLC Private Equity	$1.4M 127.2K shares
Y Y-Intercept Ltd Institution	$451.6K 40.9K shares
R Rangeley Capital, LLC Hedge Fund•Event Driven	$372.0K 33.7K shares
O OXFORD ASSET MANAGEMENT Institution	$159.2K 14.4K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$140.0K 12.7K shares
ING INVESTMENT MANAGEMENT LLC Insurance Manager	$127.9K 11.6K shares
Private Advisor Group, LLC RIA/Wealth	$111.4K 10.1K shares
S SIMPLEX TRADING, LLC Institution	$7.7K 697.0 shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$7.6K 692.0 shares

Options Activity

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

Call Positions: 3
Call Value: $532.9K
Put Positions: 3
Put Value: $2.2M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$208.8K 143.0 contracts
J JANE STREET GROUP, LLC Institution	$201.5K 138.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$122.6K 84.0 contracts

Put Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$1.5M 1.0K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$661.4K 453.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$14.6K 10.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
N Newtyn Management, LLC Hedge Fund•Event Driven	Noah Gabriel Levy Managing Partner	8.85% $72.3M	9.83% 5.0M shares	Q3 2021 Held for 4y 2m	$816.9M
Irenic Capital Management LP Hedge Fund•Activist	Adam Jason Katz CIO	8.59% $40.3M	5.48% 2.8M shares	Q4 2022 Held for 2y 11m	$469.3M
Madison Avenue Partners, LP Hedge Fund•Value	Eli Jackson Samaha Managing Partner	7.28% $138.9M	18.89% 9.5M shares	Q3 2021 Held for 4y 2m	$1.9B
O Oasis Management Co Ltd. Institution	-	3.60% $16.3M	2.22% 1.1M shares	Q3 2022 Held for 3y 2m	$453.2M
Weiss Asset Management LP Hedge Fund•Multi-Strategy	Andrew Murray Weiss CEO	2.09% $108.9M	14.81% 7.5M shares	Q4 2021 Held for 3y 11m	$5.2B
Park West Asset Management LLC Hedge Fund•Multi-Strategy	Peter Sang Hun Park CIO	1.71% $18.7M	2.55% 1.3M shares	Q1 2022 Held for 3y 8m	$1.1B
Militia Capital Partners, LP Hedge Fund•Long/Short	-	0.40% $791.3K	0.11% 54.2K shares	Q2 2025 Held for 5 months	$195.8M
Longboard Asset Management, LP Long Only Manager	Cole Mcallister Wilcox CEO	0.31% $191.3K	0.03% 13.1K shares	Q3 2025 Held for 2 months	$62.3M
V Virtus Investment Advisers, Inc. Institution	Daphne Tippens Chisolm President	0.18% $611.5K	0.08% 41.9K shares	Q1 2025 Held for 8 months	$348.7M
E EntryPoint Capital, LLC Hedge Fund•Long/Short	Lawrence Edward Leibowitz CEO	0.17% $441.7K	0.06% 30.3K shares	Q2 2025 Held for 5 months	$258.4M