Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Biohaven Ltd (BHVN)

287 + Investors. Track Smart Money conviction in BHVN. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +20
Streak
1Q ▲
Buyers last Q
58%

Smart Money Signals — BHVN

Based on 294 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added BHVN than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
294 hedge funds hold BHVN right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +15% more funds vs a year ago

fund count last 6Q
+38 new funds entered over the past year (+15% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 58% buying

166 buying121 selling
Last quarter: 166 funds bought or added vs 121 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+13 vs last Q)

new funds entering per quarter
Funds opening a new BHVN position: 48 → 77 → 43 → 56. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

54% of holders stayed for 2+ years

■ 54% conviction (2yr+) ■ 22% medium ■ 23% new
160 out of 294 hedge funds have held BHVN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Value +83% but shares only +1% — price-driven

Value
+82%
Shares
+0%
Last quarter: the total dollar value of institutional holdings rose +83%, but actual share count only changed +1%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📊

Peak discovery — momentum slowing

45 → 48 → 77 → 43 → 56 new funds/Q
New funds entering each quarter: 48 → 77 → 43 → 56. BHVN is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Veteran-anchored — 61% veterans vs 25% newcomers

■ 61% veterans ■ 13% 1-2yr ■ 25% new
Entry-cohort mix of 306 holders: 188 (61%) are 2+ year veterans, 41 entered 1–2 years ago, and 77 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 50% AUM from top-100 funds

50% from top-100 AUM funds
49 of 293 holders are among the 100 largest funds by AUM, controlling 50% of total institutional value in BHVN. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.7
out of 10
Low Exit Risk
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — BHVN

In 2026 Q2, 166 hedge funds were net buyers of BHVN (56 opened a new position, 110 added to an existing one), while 121 reduced or exited (85 trimmed, 36 sold completely) — a 58% buyer ratio, indicating a slight buying edge. 50% of total institutional value in BHVN is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +20 funds (more new holders than closures). Total institutional holders: 294.

Hedge Fund Ownership: BHVN

How many hedge funds hold BHVN — quarterly history vs. share price
Quarterly hedge fund ownership of BHVN vs. share price

Market Analysis: BHVN

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: BHVN

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

14 top-rated funds 6 high-conviction
Consensus
5.1
/ 10
breadth
×
Elite
3.9
/ 10
conviction
Hedge Fund Positioning: BHVN
287 + Investors

Track Smart Money conviction in BHVN. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 287 274 4.74%
13F Shares 146M 147M -0.94%
Total Value $2.11B $1.25B 68.91%
New Positions 53 43 +10
Increased Positions 106 118 -12
Closed Positions 39 47 -8
Reduced Positions 81 63 +18
Total Calls 10 11 -9.09%
Total Puts 3 6 -50.0%
PUT/CALL Ratio 0.3 0.55 Bullish

Statistics: BHVN

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Financial Highlights

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Institutional Holders (2026 Q2)

287 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in BHVN. Verified SEC 13F-HR filings.

QUARTER:
Top 25 BHVN holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Royalty Pharma Sub-Manager, LLC 18.06% 2,936,507 $43.7M
2 Infinitum Asset Management, LLC 9.46% 6,250,000 $93.0M
3 Sarissa Capital Management LP 4.87% 582,312 $8.7M
4 Pfizer Inc 4.70% 505,645 $8.0M
5 5AM Venture Management, LLC 3.82% 738,972 $11.0M
6 Lion Point Capital, LP 3.68% 51,700 $769K
7 Montanova Capital, LLC 2.80% 10,286,937 $153.1M
8 Stempoint Capital LP 2.73% 1,064,200 $15.8M
9 MYDA Advisors LLC 2.55% 1,150,000 $17.1M
10 Cormorant Asset Management, LP 1.99% 2,610,000 $38.8M
11 QTR Family Wealth, LLC 1.75% 337,432 $5.0M
12 Ikarian Capital, LLC 1.20% 748,181 $11.1M
13 ARS Investment Partners, LLC 0.89% 1,374,185 $20.4M
14 TCG Crossover Management, LLC 0.64% 1,779,952 $26.5M
15 Diadema Partners LP 0.60% 317,000 $4.7M
16 Kennondale Capital Management LLC 0.52% 52,693 $784K
17 Integral Health Asset Management, LLC 0.41% 700,000 $10.4M
18 Eversept Partners, LP 0.40% 515,804 $7.7M
19 DAFNA Capital Management LLC 0.39% 137,593 $2.0M
20 DCF Advisers, LLC 0.35% 134,500 $2.0M
21 Woodline Partners LP 0.35% 7,660,280 $114.0M
22 DCF Advisers, LLC 0.34% 130,000 $1.9M
23 ADAR1 Capital Management, LLC 0.34% 501,687 $7.5M
24 Sphera Funds Management LTD. 0.32% 164,437 $2.4M
25 QVT Financial LP 0.31% 354,206 $5.3M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Biohaven Ltd (BHVN)

What does the Smart Money Trend signal show for BHVN?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added BHVN than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for BHVN?

Slight buying edge — 58% buying: Last quarter: 166 funds bought or added vs 121 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for BHVN holders?

Elite ownership — 50% AUM from top-100 funds: 49 of 293 holders are among the 100 largest funds by AUM, controlling 50% of total institutional value in BHVN. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held BHVN?

54% of holders stayed for 2+ years: 160 out of 294 hedge funds have held BHVN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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