Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Innoviva Inc (INVA)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +8
Streak
2Q ▲
Buyers last Q
57%

Smart Money Signals — INVA

Based on 282 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds added INVA 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
282 hedge funds hold INVA 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 — +17% more funds vs a year ago

fund count last 6Q
+41 new funds entered over the past year (+17% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 57% buying

166 buying126 selling
Last quarter: 166 funds bought or added vs 126 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.
➡️

Steady new buyers — ~49 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 48 → 37 → 48 → 49. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

60% of holders stayed for 2+ years

■ 60% conviction (2yr+) ■ 18% medium ■ 22% new
169 out of 282 hedge funds have held INVA 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 +15% but shares only +0% — price-driven

Value
+15%
Shares
+0%
Last quarter: the total dollar value of institutional holdings rose +15%, but actual share count only changed +0%. 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.
📈

Growing discovery — still being found

42 → 48 → 37 → 48 → 49 new funds/Q
New funds entering each quarter: 48 → 37 → 48 → 49. A growing number of institutions are discovering INVA each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 63% of holders stayed 2+ years

■ 63% veterans ■ 10% 1-2yr ■ 26% new
Of 284 current holders: 180 (63%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 40% AUM from top-100 funds

40% from top-100 AUM funds
51 of 282 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in INVA. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.8
out of 10
Low Exit Risk
Exit risk score 3.8/10 — 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 — INVA

In 2026 Q1, 166 hedge funds were net buyers of INVA (49 opened a new position, 117 added to an existing one), while 126 reduced or exited (85 trimmed, 41 sold completely) — a 57% buyer ratio, indicating a slight buying edge. Net buying has persisted for two consecutive quarters, a positive momentum signal. 40% of total institutional value in INVA is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +8 funds (more new holders than closures). Total institutional holders: 282.

Hedge Fund Ownership: INVA

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

Market Analysis: INVA

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: INVA

-- --

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

Is It Too Late to Buy Innoviva Inc (INVA) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much INVA has moved relative to its sector benchmark (XLV) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 75d ago
INVA
-2.4%
XLV
+4.9%

INVA outperformed XLV by -7.3% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 30d ago
INVA
+3.5%
XLV
+6.0%

Since the filing became public, INVA outperformed XLV by -2.5% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

23 top-rated funds 0 high-conviction
Consensus
6.0
/ 10
breadth
×
Elite
1.4
/ 10
conviction
Hedge Fund Positioning: INVA
279 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 279 274 1.82%
13F Shares 75M 75M 0.03%
Total Value $1.72B $1.49B 15.31%
New Positions 47 48 -1
Increased Positions 116 102 +14
Closed Positions 42 28 +14
Reduced Positions 83 90 -7
Total Calls 2 1 100.0%
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: INVA

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
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Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

279 + investors

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

QUARTER:
Top 25 INVA holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Sarissa Capital Management LP 31.50% 2,130,950 $49.7M
2 Dauntless Investment Group, LLC 1.89% 122,402 $2.9M
3 Lion Point Capital, LP 1.14% 8,200 $191K
4 Systematic Financial Management LP 1.08% 2,024,082 $47.2M
5 Hussman Strategic Advisors, INC. 0.74% 147,000 $3.4M
6 Uniplan Investment Counsel, Inc. 0.55% 229,338 $5.3M
7 Watershed Asset Management, L.L.C. 0.49% 20,366 $475K
8 Chase Investment Counsel Corp 0.43% 70,000 $1.6M
9 nVerses Capital, LLC 0.34% 15,888 $370K
10 Oliver Luxxe Assets LLC 0.30% 84,960 $2.0M
11 Virtus Advisers, LLC 0.29% 26,946 $628K
12 Royce & Associates LP 0.24% 1,061,448 $24.7M
13 denkapparat Operations GmbH 0.23% 23,428 $546K
14 New Vernon Capital Holdings II LLC 0.23% 13,122 $306K
15 James Investment Research, INC. 0.20% 77,227 $1.8M
16 Synergy Asset Management, LLC 0.19% 76,340 $1.8M
17 Kendall Capital Management 0.17% 35,285 $822K
18 Renaissance Technologies LLC 0.15% 4,055,632 $94.5M
19 iSAM Funds (UK) Ltd 0.12% 10,323 $241K
20 Fox Run Management, L.L.C. 0.10% 25,798 $591K
21 Edgestream Partners, L.P. 0.10% 132,225 $3.1M
22 Martingale Asset Management L P 0.07% 125,693 $2.9M
23 William Blair Investment Management, LLC 0.04% 574,825 $13.4M
24 Boston Partners 0.04% 1,718,867 $40.0M
25 Dynamic Technology Lab Private Ltd 0.04% 10,710 $250K
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 — Innoviva Inc (INVA)

What does the Smart Money Trend signal show for INVA?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added INVA 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 INVA?

Slight buying edge — 57% buying: Last quarter: 166 funds bought or added vs 126 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 INVA holders?

Elite ownership — 40% AUM from top-100 funds: 51 of 282 holders are among the 100 largest funds by AUM, controlling 40% of total institutional value in INVA. 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 INVA?

60% of holders stayed for 2+ years: 169 out of 282 hedge funds have held INVA 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.

Is it too late to buy Innoviva Inc (INVA) following the 2026 Q1 hedge fund 13F filings?

As of today, INVA has moved +3.5% since the 2026 Q1 13F filing date (May 15, 2026), compared to +6.0% for the XLV sector ETF — an outperformance of -2.5%. Since the quarter end (March 31, 2026), INVA has gained -2.4% vs +4.9% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

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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