Tvardi Therapeutics, Inc. Common Stock

TVRD • NASDAQ

Tvardi Therapeutics, Inc. Common Stock is a pharmaceutical preparations company on NASDAQ, with a market cap of $39.6M. As of Q3 2025, 28% of shares are held by 72 institutional investors, with Slate Path Capital LP as the largest holder at 7.51%.

Market Cap$39.6M

PHARMACEUTICAL PREPARATIONS

Overview

Overview of institutional ownership in TVRD as of Q3 2025 with a market cap of $365.4M

All Institutions

Institutions: 72
Value Held: $102.2M
Shares Held: 2.6M
Avg Position: $1.4M
Median Position: $85.4K

Hedge Funds

Hedge Funds: 9
Value Held: $47.3M
Shares Held: 1.2M
Avg Position: $5.3M
Median Position: $1.7M

Ownership Breakdown

Institutional (non-HF)

15.04%

$55.0M

Hedge Funds

12.93%

$47.3M

Retail & Other

72.03%

$263.2M

Based on market cap of $365.4M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in TVRD as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Slate Path Capital LP Hedge Fund•Long/Short	David Gerald Greenspan CEO	$27.4M 0.40% of portfolio	7.51% 704.1K shares	Q2 2025 Held for 5 months	$6.8B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$16.3M 0.00% of portfolio	4.47% 419.2K shares	Q1 2025 Held for 8 months	$6.69T
B BlackRock, Inc. Institution	-	$12.9M 0.00% of portfolio	3.52% 329.9K shares	Q1 2025 Held for 8 months	$5.67T
6 683 Capital Management, LLC Hedge Fund•Long/Short	Ari Jonathan Zweiman Managing Partner	$6.8M 0.64% of portfolio	1.88% 176.0K shares	Q2 2025 Held for 5 months	$1.1B
Vestal Point Capital, LP Hedge Fund•Long/Short	Ryan Christopher Wilder CIO	$6.5M 0.33% of portfolio	1.78% 167.0K shares	Q3 2025 Held for 2 months	$2.0B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$5.8M 0.00% of portfolio	1.58% 147.9K shares	Q1 2025 Held for 8 months	$1.57T
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$3.2M 0.00% of portfolio	0.88% 82.6K shares	Q3 2025 Held for 2 months	$633.08B
FMR LLC Institution	-	$3.2M 0.00% of portfolio	0.88% 82.2K shares	Q1 2025 Held for 8 months	$1.92T
Parkman Healthcare Partners LLC Hedge Fund•Long/Short	Gregory Arthur Martinez CIO	$2.5M 0.28% of portfolio	0.69% 65.0K shares	Q3 2025 Held for 2 months	$910.1M
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$2.4M 0.00% of portfolio	0.67% 62.9K shares	Q1 2025 Held for 8 months	$2.88T

Net Capital Flow

Institutional buying and selling activity for TVRD in Q3 2025

Traded: +$27.0M
Buyers: 47
Sellers: 11
Total Bought: +$27.9M
Total Sold: −$852.9K
Avg Position: $1.3M

Biggest Buyers

Institution	Net Bought	Current Position
Vestal Point Capital, LP Hedge Fund•Long/Short	+$6.5M +167.0K shares	$6.5M 167.0K shares
Invesco Ltd. ETF Provider	+$3.2M +82.6K shares	$3.2M 82.6K shares
FMR LLC Institution	+$3.2M +82.2K shares	$3.2M 82.2K shares
Parkman Healthcare Partners LLC Hedge Fund•Long/Short	+$2.5M +65.0K shares	$2.5M 65.0K shares
B BlackRock, Inc. Institution	+$2.4M +62.0K shares	$12.9M 329.9K shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	+$1.4M +35.8K shares	$5.8M 147.9K shares
GOLDMAN SACHS GROUP INC Institution	+$936.4K +24.0K shares	$936.4K 24.0K shares
SILVERCREST ASSET MANAGEMENT GROUP LLC RIA/Wealth	+$871.6K +22.4K shares	$871.6K 22.4K shares
STATE STREET CORP Institution	+$831.4K +21.3K shares	$2.4M 62.9K shares
VANGUARD GROUP INC Institution	+$808.9K +20.8K shares	$16.3M 419.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
Marshall Wace LLP Institution	−$582.8K −25.0K shares	Sold Off 0 shares
H Headlands Technologies LLC Institution	−$80.0K −3.4K shares	Sold Off 0 shares
BANK OF AMERICA CORP /DE/ Institution	−$67.1K −1.7K shares	$598.7K 15.4K shares
MORGAN STANLEY RIA/Wealth	−$43.2K −1.1K shares	$147.5K 3.8K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$41.3K −1.1K shares	$1.2M 30.2K shares
N NEW YORK STATE COMMON RETIREMENT FUND Institution	−$36.0K −1.0K shares	$108.0K 3.0K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$1.5K −65.0 shares	Sold Off 0 shares
A Advisor Group Holdings, Inc. Institution	−$421.7 −12.0 shares	$1.0K 29.0 shares
Kiker Wealth Management, LLC RIA/Wealth	−$303.0 −13.0 shares	Sold Off 0 shares
T TRUST CO OF TOLEDO NA /OH/ Institution	−$210.0 −9.0 shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 23
New Value: $17.6M
Exited Positions: 6
Exited Value: $664.9K

New Positions

Institution	Position Value
Vestal Point Capital, LP Hedge Fund•Long/Short	$6.5M 167.0K shares
Invesco Ltd. ETF Provider	$3.2M 82.6K shares
Parkman Healthcare Partners LLC Hedge Fund•Long/Short	$2.5M 65.0K shares
GOLDMAN SACHS GROUP INC Institution	$936.4K 24.0K shares
SILVERCREST ASSET MANAGEMENT GROUP LLC RIA/Wealth	$871.6K 22.4K shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$786.8K 20.2K shares
Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy	$745.6K 19.1K shares
Monaco Asset Management SAM RIA/Wealth	$529.6K 13.6K shares
Bank of New York Mellon Corp Institution	$376.7K 9.7K shares
S Squarepoint Ops LLC Hedge Fund•Quant	$318.2K 8.2K shares

Exited Positions

Institution	Previous Position
Marshall Wace LLP Institution	$582.8K 25.0K shares
H Headlands Technologies LLC Institution	$80.0K 3.4K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	$1.5K 65.0 shares
Kiker Wealth Management, LLC RIA/Wealth	$303.0 13.0 shares
T TRUST CO OF TOLEDO NA /OH/ Institution	$210.0 9.0 shares
Caitong International Asset Management Co., Ltd RIA/Wealth	$23.0 1.0 shares

Options Activity

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

Call Positions: 3
Call Value: $1.0M
Put Positions: 1
Put Value: $66.2K

Call Positions

Institution	Position Value
Ikarian Capital, LLC Hedge Fund•Event Driven	$740.4K 190.0 contracts
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$272.8K 70.0 contracts
Caption Management, LLC Hedge Fund•Long/Short	$27.3K 7.0 contracts

Put Positions

Institution	Position Value
Caption Management, LLC Hedge Fund•Long/Short	$66.2K 17.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
6 683 Capital Management, LLC Hedge Fund•Long/Short	Ari Jonathan Zweiman Managing Partner	0.64% $6.8M	1.88% 176.0K shares	Q2 2025 Held for 5 months	$1.1B
Slate Path Capital LP Hedge Fund•Long/Short	David Gerald Greenspan CEO	0.40% $27.4M	7.51% 704.1K shares	Q2 2025 Held for 5 months	$6.8B
Vestal Point Capital, LP Hedge Fund•Long/Short	Ryan Christopher Wilder CIO	0.33% $6.5M	1.78% 167.0K shares	Q3 2025 Held for 2 months	$2.0B
Parkman Healthcare Partners LLC Hedge Fund•Long/Short	Gregory Arthur Martinez CIO	0.28% $2.5M	0.69% 65.0K shares	Q3 2025 Held for 2 months	$910.1M
Duncan Williams Asset Management, LLC RIA/Wealth	Duncan Franklin Williams Chairman	0.24% $858.5K	0.23% 22.0K shares	Q2 2025 Held for 5 months	$355.4M
Monaco Asset Management SAM RIA/Wealth	Kirstin Lynn Hark Director	0.21% $529.6K	0.14% 13.6K shares	Q3 2025 Held for 2 months	$256.5M
DIADEMA PARTNERS LP Hedge Fund•Long/Short	Timothy Beau Bassett CIO	0.06% $85.1K	0.02% 2.2K shares	Q3 2025 Held for 2 months	$143.3M
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	Ari Louis Glass Managing Partner	0.02% $786.8K	0.22% 20.2K shares	Q3 2025 Held for 2 months	$3.8B
P Persistent Asset Partners Ltd Institution	-	0.01% $19.5K	0.01% 500.0 shares	Q3 2025 Held for 2 months	$137.1M
FARALLON CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	Rajiv Anant Patel Managing Partner	0.01% $1.7M	0.46% 43.2K shares	Q1 2025 Held for 8 months	$17.7B

Hedge Fund Spotlight

Discover hedge funds investing in TVRD

Slate Path Capital LP

Hedge Fund • Long/Short

Portfolio ManagerDavid Gerald Greenspan

Portfolio Value: $6.8B
Positions: 53
Last Reported: Q3 2025

Sector Allocation

Position in Tvardi Therapeutics, Inc. Common Stock

Market Value: $27.4M
Shares Held: 704.1K
Portfolio Weight: 0.40%
Owned Since: 2025-Q2

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