Xenon Pharmaceuticals

XENE • NASDAQ

Xenon Pharmaceuticals is a biotechnology company in the healthcare sector on NASDAQ, led by Ian C. Mortimer, with a market cap of $3.4B. As of Q3 2025, 109% of shares are held by 213 institutional investors, with FMR LLC as the largest holder at 11.57%.

Chief Executive OfficerIan C. Mortimer

Market Cap$3.4B

Biotechnology

Healthcare

Employees259.0

Websitexenon-pharma.com

Country

United States of America

Overview

Overview of institutional ownership in XENE as of Q3 2025 with a market cap of $3.1B

All Institutions

Institutions: 213
Value Held: $3.4B
Shares Held: 84.1M
Avg Position: $15.9M
Median Position: $1.5M

Hedge Funds

Hedge Funds: 44
Value Held: $1.0B
Shares Held: 25.1M
Avg Position: $22.9M
Median Position: $7.7M

Ownership Breakdown

Institutional (non-HF)

76.54%

$2.4B

Hedge Funds

32.57%

$1.0B

Retail & Other

Based on market cap of $3.1B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in XENE as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
FMR LLC Institution	-	$358.1M 0.02% of portfolio	11.57% 8.9M shares	Q1 2020 Held for 5y 8m	$1.92T
venBio Select Advisor LLC RIA/Wealth	Behzad Aghazadeh Managing Partner	$216.8M 2.80% of portfolio	7.00% 5.4M shares	Q2 2018 Held for 7y 5m	$7.7B
B BlackRock, Inc. Institution	-	$191.6M 0.00% of portfolio	6.19% 4.8M shares	Q4 2018 Held for 6y 11m	$5.67T
DRIEHAUS CAPITAL MANAGEMENT LLC Hedge Fund•Event Driven	Stephen Thomas Weber CEO	$167.4M 1.20% of portfolio	5.41% 4.2M shares	Q1 2020 Held for 5y 8m	$13.9B
HENDERSON GROUP PLC Institution	Ali Dibadj CEO	$158.3M 0.07% of portfolio	5.11% 3.9M shares	Q1 2022 Held for 3y 8m	$218.74B
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$144.9M 0.03% of portfolio	4.68% 3.6M shares	Q1 2023 Held for 2y 8m	$571.21B
B BRAIDWELL LP Hedge Fund•Multi-Strategy	Brian James Kreiter CEO	$144.7M 5.85% of portfolio	4.68% 3.6M shares	Q4 2022 Held for 2y 11m	$2.5B
C Capital International Investors Institution	-	$127.7M 0.02% of portfolio	4.13% 3.2M shares	Q3 2018 Held for 7y 2m	$615.90B
COMMODORE CAPITAL LP Hedge Fund•Long/Short	Michael Jonathan Kramarz Managing Partner	$108.4M 5.29% of portfolio	3.50% 2.7M shares	Q4 2020 Held for 4y 11m	$2.0B
Polar Capital Holdings Plc Long Only Manager	Gavin Mark Rochussen CEO	$102.3M 0.49% of portfolio	3.30% 2.5M shares	Q4 2021 Held for 3y 11m	$20.8B

Net Capital Flow

Institutional buying and selling activity for XENE in Q3 2025

Traded: +$58.3M
Buyers: 99
Sellers: 91
Total Bought: +$329.6M
Total Sold: −$271.2M
Avg Position: $14.4M

Biggest Buyers

Institution	Net Bought	Current Position
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$57.6M +1.4M shares	$144.9M 3.6M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$33.7M +839.1K shares	$38.5M 959.1K shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	+$21.0M +522.2K shares	$24.1M 599.1K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$20.1M +501.2K shares	$55.6M 1.4M shares
C Caligan Partners LP Hedge Fund•Activist	+$17.8M +444.6K shares	$17.8M 444.6K shares
JENNISON ASSOCIATES LLC Long Only Manager	+$17.6M +438.9K shares	$45.6M 1.1M shares
T Tri Locum Partners LP Hedge Fund•Long/Short	+$14.7M +366.1K shares	$14.7M 366.1K shares
HENDERSON GROUP PLC Institution	+$14.7M +366.2K shares	$158.3M 3.9M shares
Affinity Asset Advisors, LLC Hedge Fund•Long/Short	+$12.0M +300.0K shares	$56.2M 1.4M shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$10.2M +253.6K shares	$12.9M 322.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
Vestal Point Capital, LP Hedge Fund•Long/Short	−$36.1M −900.0K shares	$44.2M 1.1M shares
B BlackRock, Inc. Institution	−$23.9M −594.4K shares	$191.6M 4.8M shares
ORBIMED ADVISORS LLC Hedge Fund•Sector	−$21.2M −528.3K shares	$16.8M 419.6K shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	−$18.3M −455.0K shares	$33.5M 835.1K shares
Marshall Wace LLP Institution	−$16.4M −408.3K shares	$24.6M 612.0K shares
A Assenagon Asset Management S.A. Institution	−$13.7M −437.0K shares	Sold Off 0 shares
COMMODORE CAPITAL LP Hedge Fund•Long/Short	−$13.0M −325.0K shares	$108.4M 2.7M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$12.7M −404.4K shares	Sold Off 0 shares
Pictet Asset Management Holding SA Long Only Manager	−$8.5M −211.9K shares	$50.6M 1.3M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$7.1M −176.4K shares	$1.8M 45.9K shares

Entry and Exit Activity

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

New Positions: 17
New Value: $32.4M
Exited Positions: 20
Exited Value: $53.3M

New Positions

Institution	Position Value
C Caligan Partners LP Hedge Fund•Activist	$17.8M 444.6K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$10.1M 252.4K shares
N Neo Ivy Capital Management Hedge Fund•Quant	$2.0M 49.8K shares
Quantinno Capital Management LP Hedge Fund•Market Neutral	$536.8K 13.4K shares
ALTFEST L J & CO INC RIA/Wealth	$310.4K 7.7K shares
P PenderFund Capital Management Ltd. Institution	$275.0K 6.9K shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$270.9K 6.7K shares
I INCEPTIONR LLC Hedge Fund•Quant	$253.8K 6.3K shares
FIS GROUP, INC. Fund of Funds	$239.6K 6.0K shares
PRINCIPAL FINANCIAL GROUP INC Institution	$233.6K 5.8K shares

Exited Positions

Institution	Previous Position
A Assenagon Asset Management S.A. Institution	$13.7M 437.0K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	$12.7M 404.4K shares
First Light Asset Management, LLC Hedge Fund•Sector	$5.9M 188.4K shares
A AXA Institution	$5.5M 175.6K shares
Foresite Capital Management VI LLC Venture Capital	$5.0M 160.0K shares
Caption Management, LLC Hedge Fund•Long/Short	$3.2M 100.9K shares
Soleus Capital Management, L.P. Hedge Fund•Long/Short	$2.5M 78.8K shares
S Skandinaviska Enskilda Banken AB Institution	$1.5M 47.5K shares
Woodline Partners LP Hedge Fund•Long/Short	$1.4M 43.4K shares
Polar Securities Inc. Hedge Fund•Multi-Strategy	$791.9K 25.3K shares

Options Activity

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

Call Positions: 6
Call Value: $9.3M
Put Positions: 6
Put Value: $12.1M

Call Positions

Institution	Position Value
Caption Management, LLC Hedge Fund•Long/Short	$4.0M 1.0K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$2.6M 650.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.2M 298.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$895.3K 223.0 contracts
W WOLVERINE TRADING, LLC Institution	$335.9K 86.0 contracts
DLD Asset Management, LP Hedge Fund•Multi-Strategy	$208.7K 52.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.5M 879.0 contracts
J JANE STREET GROUP, LLC Institution	$2.9M 712.0 contracts
Caption Management, LLC Hedge Fund•Long/Short	$2.4M 600.0 contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$1.2M 308.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.2M 293.0 contracts
W WOLVERINE TRADING, LLC Institution	$898.4K 230.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
B BRAIDWELL LP Hedge Fund•Multi-Strategy	Brian James Kreiter CEO	5.85% $144.7M	4.68% 3.6M shares	Q4 2022 Held for 2y 11m	$2.5B
Affinity Asset Advisors, LLC Hedge Fund•Long/Short	Jonathan Bo-Shing Chu Founder	5.72% $56.2M	1.82% 1.4M shares	Q4 2022 Held for 2y 11m	$983.0M
COMMODORE CAPITAL LP Hedge Fund•Long/Short	Michael Jonathan Kramarz Managing Partner	5.29% $108.4M	3.50% 2.7M shares	Q4 2020 Held for 4y 11m	$2.0B
F First Turn Management, LLC Hedge Fund•Long/Short	Lisa Gable Wheatley Managing Partner	4.82% $32.1M	1.04% 799.7K shares	Q4 2023 Held for 1y 11m	$666.0M
S Saturn V Capital Management LLC Hedge Fund•Sector	Xiaoying (Nmn) Tian Partner	4.44% $20.2M	0.65% 503.7K shares	Q4 2024 Held for 11 months	$456.0M
TLS Advisors LLC Hedge Fund•Global Macro	Jennifer Ann Lidel President	4.32% $1.3M	0.04% 33.0K shares	Q4 2022 Held for 2y 11m	$30.7M
G GREAT POINT PARTNERS LLC Private Equity	Jeffrey Robert Jay Managing Partner	3.54% $8.0M	0.26% 200.0K shares	Q4 2024 Held for 11 months	$226.8M
Foresite Capital Management IV, LLC Venture Capital	James Bruce Tananbaum CEO	3.52% $6.4M	0.21% 160.0K shares	Q2 2025 Held for 5 months	$182.6M
T Tri Locum Partners LP Hedge Fund•Long/Short	Prashanth Nmn Jayaram CIO	3.38% $14.7M	0.47% 366.1K shares	Q3 2025 Held for 2 months	$435.1M
MPM Oncology Impact Management LP Institution	Christian Albrecht Wulf Von Schimmelmann Managing Partner	3.31% $20.2M	0.65% 503.4K shares	Q3 2024 Held for 1y 2m	$610.9M

Hedge Fund Spotlight

Discover hedge funds investing in XENE

DEERFIELD MANAGEMENT CO /NY

Hedge Fund • Long/Short

Portfolio ManagerJames Edward Flynn

Portfolio Value: $6.0B
Positions: 142
Last Reported: Q3 2025

Sector Allocation

Position in Xenon Pharmaceuticals

Market Value: $21.8M
Shares Held: 542.0K
Portfolio Weight: 0.36%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 Nuvalent, Inc. NUVL	Biotechnology Healthcare	$1.6B	25.79%
2 Centene CNC	Medical - Healthcare Plans Healthcare	$322.8M	5.35%
3 Merus N.V. MRUS	Biotechnology Healthcare	$286.9M	4.75%