Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Ligand Pharmaceuticals Inc (LGND)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +61
Streak
11Q ▲
Buyers last Q
62%

Smart Money Signals — LGND

Based on 416 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 11 quarters in a row

last 6Q
For 11 consecutive quarters, more hedge funds added LGND 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
416 hedge funds hold LGND 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.
🚀

Fast accumulation — +58% more funds vs a year ago

fund count last 6Q
+152 new funds entered over the past year (+58% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢

More buyers than sellers — 62% buying

251 buying155 selling
Last quarter: 251 funds were net buyers (101 opened a brand new position + 150 added to an existing one). Only 155 were sellers (115 trimmed + 40 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+43 vs last Q)

new funds entering per quarter
Funds opening a new LGND position: 68 → 72 → 58 → 101. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

53% of holders stayed for 2+ years

■ 53% conviction (2yr+) ■ 19% medium ■ 28% new
219 out of 416 hedge funds have held LGND 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 +74% but shares only +42% — price-driven

Value
+74%
Shares
+42%
Last quarter: the total dollar value of institutional holdings rose +74%, but actual share count only changed +42%. 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

33 → 68 → 72 → 58 → 101 new funds/Q
New funds entering each quarter: 68 → 72 → 58 → 101. A growing number of institutions are discovering LGND each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 59% veterans vs 29% newcomers

■ 59% veterans ■ 12% 1-2yr ■ 29% new
Entry-cohort mix of 424 holders: 249 (59%) are 2+ year veterans, 50 entered 1–2 years ago, and 125 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 54% AUM from top-100 funds

54% from top-100 AUM funds
56 of 412 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in LGND. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

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 — LGND

In 2026 Q2, 251 hedge funds were net buyers of LGND (101 opened a new position, 150 added to an existing one), while 155 reduced or exited (115 trimmed, 40 sold completely) — a 62% buyer ratio, indicating clear institutional accumulation. This marks 11 consecutive quarters of net institutional buying — a persistent conviction signal. 54% of total institutional value in LGND is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +61 funds (more new holders than closures). Total institutional holders: 416.

Hedge Fund Ownership: LGND

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

Market Analysis: LGND

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: LGND

-- --

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.

18 top-rated funds 2 high-conviction
Consensus
5.6
/ 10
breadth
×
Elite
2.6
/ 10
conviction
Hedge Fund Positioning: LGND
411 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 411 355 15.77%
13F Shares 30M 21M 42.4%
Total Value $7.10B $4.07B 74.32%
New Positions 101 58 +43
Increased Positions 146 133 +13
Closed Positions 41 49 -8
Reduced Positions 113 115 -2
Total Calls 6 4 50.0%
Total Puts 6 4 50.0%
PUT/CALL Ratio 1.0 1.0 Neutral

Statistics: LGND

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Financial Highlights

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Institutional Holders (2026 Q2)

411 + investors

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

QUARTER:
Top 25 LGND holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Villere St Denis J & Co LLC 5.87% 155,506 $49.2M
2 Ashford Capital Management Inc 5.77% 170,236 $53.8M
3 Ranger Investment Management, L.P. 5.15% 257,596 $81.4M
4 Private Capital Management, LLC 4.62% 166,016 $52.5M
5 Chicago Capital, LLC 4.21% 553,435 $174.9M
6 Rice Hall James & Associates, LLC 4.15% 270,052 $85.4M
7 Next Century Growth Investors LLC 3.33% 198,542 $62.8M
8 Penn Capital Management Company, LLC 2.01% 100,337 $31.7M
9 Pembroke Management, LTD 2.00% 40,277 $12.7M
10 Essex Investment Management Co LLC 1.80% 43,567 $13.8M
11 Granahan Investment Management, LLC 1.66% 147,231 $46.5M
12 Stephens Investment Management Group LLC 1.61% 475,609 $150.3M
13 Moody Aldrich Partners LLC 1.60% 28,160 $8.9M
14 Pavaki Capital Management LLC 1.48% 11,100 $2.1M
15 Future Fund LLC 1.33% 14,704 $4.6M
16 Lisanti Capital Growth, LLC 1.30% 18,747 $5.9M
17 Congress Asset Management Co 1.28% 659,911 $208.6M
18 Uniplan Investment Counsel, Inc. 1.02% 34,249 $10.8M
19 Emerald Investment Advisers, LLC 0.99% 46,921 $14.8M
20 Granite Investment Partners, LLC 0.88% 54,128 $17.1M
21 Isthmus Partners, LLC 0.64% 20,935 $6.6M
22 Informed Momentum Co LLC 0.55% 19,498 $6.2M
23 Castleark Management LLC 0.53% 62,043 $19.6M
24 Hodges Capital Management Inc. 0.49% 23,444 $7.4M
25 Woodstock Corp 0.48% 18,345 $5.8M
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 — Ligand Pharmaceuticals Inc (LGND)

What does the Smart Money Trend signal show for LGND?

Buying streak — 11 quarters in a row: For 11 consecutive quarters, more hedge funds added LGND 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 LGND?

More buyers than sellers — 62% buying: Last quarter: 251 funds were net buyers (101 opened a brand new position + 150 added to an existing one). Only 155 were sellers (115 trimmed + 40 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for LGND holders?

Elite ownership — 54% AUM from top-100 funds: 56 of 412 holders are among the 100 largest funds by AUM, controlling 54% of total institutional value in LGND. 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 LGND?

53% of holders stayed for 2+ years: 219 out of 416 hedge funds have held LGND 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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