IPHA β€” INNATE PHARMA S A

Ownership history in MILLENNIUM MANAGEMENT LLC  Β·  21 quarters on record

This page tracks every 13F SEC filing in which MILLENNIUM MANAGEMENT LLC reported a position in INNATE PHARMA S A (IPHA). Data includes quarterly share count, position size as % of portfolio, estimated market value, and end-of-quarter stock price β€” sourced directly from SEC EDGAR 13F filings.

Position Intelligence

MILLENNIUM MANAGEMENT LLC Γ— IPHA AI Analytics

πŸ“‰ MILLENNIUM MANAGEMENT LLC underperformed the S&P 500 by –25.6% annually on this IPHA position. Timing score: 50% (9/18 decisions correct). Average cost basis: $4.88. Maximum drawdown during holding period: –74.5%.

πŸ“ˆ Position Alpha vs SPY
-25.6%
annualised excess return

❌ Significantly underperformed the S&P 500 by 25.6% ann.
20 quarters analyzed

⏱️ Timing Score
50%

➑️ Neutral timing β€” roughly coin-flip accuracy on add/trim calls.
9 of 18 add/trim decisions correct

πŸ’° Entry Quality
$4.88
-64.1% vs current ($1.75)

Best entry: $1.75 (2025 Q4)  Β·  Worst: $6.44 (2019 Q4)

πŸ›‘οΈ Drawdown Resilience
–74.5%
max drawdown while held

πŸ’ͺ Held through 1 major drawdown (>20%). Strong conviction under pressure.

πŸ’ͺ Fund Conviction
26%
buy-side decisions

5 adds Β· 14 trims. Bought during 3 of 10 down-price quarters. πŸ“‰ Predominantly trimming β€” distribution phase.

πŸ“‘ Position Trajectory
β†’ Stable
last 4–5 quarters trend

βš–οΈ Portfolio weight has remained relatively stable β€” conviction maintained.
Currently 0.0% of portfolio

⚠ Based on quarterly 13F SEC filings and end-of-quarter closing prices. Timing score = accuracy of add/trim decisions vs next-quarter price direction. Alpha = mean quarterly excess return Γ— 4 (annualised). Not investment advice.

% of Fund (quarterly)    IPHA price (monthly, adj. close)
πŸ“‹ Quarterly Holdings History 10 quarters  β–Ύ
Quarter Action Shares Change Chg % % of Fund Mkt Value Price (EOQ)
2025 Q4 ADDED 20,308 +8,647 +74.2% 0.00% $36K $1.75
2025 Q2 REDUCED 11,661 -3,665 -23.9% 0.00% $20K $1.82
2025 Q1 ADDED 15,326 +4,747 +44.9% 0.00% $27K $1.78
2024 Q1 REDUCED 10,579 -1,423 -11.9% 0.00% $30K $2.88
2023 Q4 REDUCED 12,002 -34,971 -74.4% 0.00% $34K $2.80
2023 Q3 REDUCED 46,973 -2,477 -5.0% 0.00% $119K $2.53
2023 Q2 REDUCED 49,450 -12,449 -20.1% 0.00% $155K $3.08
2023 Q1 REDUCED 61,899 -9,785 -13.7% 0.00% $176K $2.85
2022 Q4 ADDED 71,684 +57,050 +389.8% 0.00% $267K $3.73
2022 Q3 REDUCED 14,634 -2,222 -13.2% 0.00% $29K $2.00
11 older quarters hidden  β€”  Sign in free or upgrade to Premium to see full history
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