Septerna Inc (SEPN): Hedge Fund Ownership & Smart Money Signals (Q1 2026)

Q: Is it too late to buy Septerna Inc (SEPN) following the 2026 Q1 hedge fund 13F filings?

As of today, SEPN has moved nan% since the 2026 Q1 13F filing date (May 15, 2026), compared to +3.2% for the XLV sector ETF — an outperformance of nan%. Since the quarter end (March 31, 2026), SEPN gained nan% vs +2.1% 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.

Septerna Inc (SEPN)

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

Smart Money Signals — SEPN

Based on 122 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q

For 1 consecutive quarter, more hedge funds reduced or closed their SEPN positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

🏔️

At the ownership peak (99% of max)

99% of all-time peak

122 hedge funds hold SEPN 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 — +72% more funds vs a year ago

fund count last 6Q

+51 new funds entered over the past year (+72% 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.

🟡

Slight buying edge — 54% buying

68 buying57 selling

Last quarter: 68 funds bought or added vs 57 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.

⚠️

Fewer new buyers each quarter (-19 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 25 → 10 → 44 → 25. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.

🔄

Mostly new holders — 47% entered in last year

■ 5% conviction (2yr+) ■ 48% medium ■ 47% new

Only 6 funds (5%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

🚀

Acceleration phase — new buyers rushing in

19 → 25 → 10 → 44 → 25 new funds/Q

New funds entering each quarter: 25 → 10 → 44 → 25. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.

🌱

Early stage — 60% of holders entered in last year

■ 5% veterans ■ 35% 1-2yr ■ 60% new

Of 122 current holders: 73 (60%) entered in the past year, only 6 (5%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.

📋

Smaller funds dominant — 16% AUM from top-100

16% from top-100 AUM funds

29 of 121 holders rank in the top 100 by AUM, but together hold only 16% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

5.1

out of 10

Moderate Exit Risk

Exit risk score 5.1/10 — 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.

Metric	All 13F Filers (2026 Q1)	Prior (2025 Q4)	Change
Funds Holding	122	123	-0.81%
13F Shares	46M	46M	-0.28%
Total Value	$1.10B	$1.28B	-14.14%
New Positions	25	44	-19
Increased Positions	42	32	+10
Closed Positions	26	5	+21
Reduced Positions	31	29	+2
Total Calls	1	2	-50.0%
Total Puts	0	2	-100.0%
PUT/CALL Ratio	0.0	1.0	Bullish

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

122

123

-0.81%

13F Shares

46M

-0.28%

Total Value

$1.10B

$1.28B

-14.14%

New Positions

-19

Increased Positions

+10

Closed Positions

+21

Reduced Positions

Total Calls

-50.0%

Total Puts

-100.0%

PUT/CALL Ratio

0.0

1.0

Bullish

Institutional Holders (2026 Q1)

122 + investors

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

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 SEPN holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Trv GP VI, LLC	74.64%	4,211,659	$101.2M
2	Trv GP V, LLC	37.25%	6,215,591	$149.4M
3	Samsara BioCapital, LLC	7.35%	3,149,128	$75.7M
4	Kalehua Capital Management LLC	3.94%	194,544	$4.7M
5	Ra Capital Management, L.P.	1.78%	6,995,858	$168.1M
6	First Light Asset Management, LLC	1.58%	732,860	$17.6M
7	ADAR1 Capital Management, LLC	1.54%	1,089,818	$26.2M
8	Catalio Capital Management, LP	1.48%	294,360	$7.1M
9	Siren, L.L.C.	1.33%	2,000,000	$48.1M
10	Bvf Inc/Il	1.04%	1,353,249	$32.5M
11	Casdin Capital, LLC	1.01%	553,268	$13.3M
12	Rangeley Capital, LLC	0.93%	39,800	$956K
13	Checkpoint Capital L.P.	0.86%	100,300	$2.4M
14	Driehaus Capital Management LLC	0.78%	4,395,572	$105.6M
15	Hussman Strategic Advisors, INC.	0.55%	105,000	$2.5M
16	Venrock Adviser, LLC	0.45%	506,056	$12.2M
17	Avoro Capital Advisors LLC	0.32%	1,337,500	$32.1M
18	Soleus Capital Management, L.P.	0.27%	275,000	$6.6M
19	VARCOV Co.	0.15%	16,752	$403K
20	EntryPoint Capital, LLC	0.09%	12,776	$307K
21	Seven Fleet Capital Management LP	0.09%	11,445	$275K
22	Virtus Investment Advisers, LLC	0.07%	10,719	$258K
23	Longaeva Partners L.P.	0.07%	74,567	$1.8M
24	Sofinnova Investments, Inc.	0.04%	47,506	$1.1M
25	Numerai GP LLC	0.04%	15,082	$362K

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 — Septerna Inc (SEPN)

What does the Smart Money Trend signal show for SEPN?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their SEPN positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for SEPN?

Slight buying edge — 54% buying: Last quarter: 68 funds bought or added vs 57 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 SEPN holders?

Smaller funds dominant — 16% AUM from top-100: 29 of 121 holders rank in the top 100 by AUM, but together hold only 16% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held SEPN?

Mostly new holders — 47% entered in last year: Only 6 funds (5%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

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

As of today, SEPN has moved nan% since the 2026 Q1 13F filing date (May 15, 2026), compared to +3.2% for the XLV sector ETF — an outperformance of nan%. Since the quarter end (March 31, 2026), SEPN has gained nan% vs +2.1% 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.

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Septerna Inc (SEPN)

Smart Money Signals — SEPN

Selling streak — 1 quarter in a row

At the ownership peak (99% of max)

Fast accumulation — +72% more funds vs a year ago

Slight buying edge — 54% buying

Fewer new buyers each quarter (-19 vs last Q)

Mostly new holders — 47% entered in last year

Acceleration phase — new buyers rushing in

Early stage — 60% of holders entered in last year

Smaller funds dominant — 16% AUM from top-100

Institutional Sentiment Summary — SEPN

Hedge Fund Ownership: SEPN

Market Analysis: SEPN

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: SEPN

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

Hedge Fund Positioning: SEPN

Statistics: SEPN

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — Septerna Inc (SEPN)

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