Ranked by reported Q2 2026 13F market value
Share of total reported institutional value in PHAT held by the largest 10 / 25 filers.
| # | Institution | Shares Held | Market Value | QoQ Change | Ownership % | % of Fund |
|---|---|---|---|---|---|---|
| 1 | Frazier Life Sciences Management, L.P. | 12.5M | $135.3M | 0.0% | 15.631% | 2.95% |
| 2 | Medicxi Ventures Management (Jersey) Ltd | 7.5M | $81.0M | 0.0% | 9.359% | 45.65% |
| 3 | BlackRock, Inc. | 4.5M | $49.1M | +11.4% | 5.674% | 0.00% |
| 4 | Invesco Ltd. | 4.0M | $43.7M | -6.8% | 5.053% | 0.00% |
| 5 | Carlyle Group Inc. | 3.5M | $37.9M | 0.0% | 4.384% | 0.38% |
| 6 | MILLENNIUM MANAGEMENT LLC | 3.4M | $36.6M | -16.1% | 4.233% | 0.01% |
| 7 | VANGUARD CAPITAL MANAGEMENT LLC | 2.7M | $28.8M | +2.8% | 3.331% | 0.00% |
| 8 | FRANKLIN RESOURCES INC | 2.0M | $21.4M | +98.2% | 2.471% | 0.00% |
| 9 | NEA Management Company, LLC | 2.0M | $21.3M | 0.0% | 2.458% | 1.34% |
| 10 | 683 Capital Management, LLC | 1.9M | $20.1M | 0.0% | 2.320% | 0.99% |
| 11 | GOLDMAN SACHS GROUP INC | 1.8M | $19.3M | +183.9% | 2.229% | 0.00% |
| 12 | STATE STREET CORP | 1.6M | $17.2M | +14.4% | 1.989% | 0.00% |
| 13 | Catalys Pacific, LLC | 1.5M | $16.2M | 0.0% | 1.873% | 7.06% |
| 14 | NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | 1.5M | $15.9M | +21.3% | 1.834% | 0.02% |
| 15 | GEODE CAPITAL MANAGEMENT, LLC | 1.3M | $14.3M | -0.9% | 1.650% | 0.00% |
| 16 | WASATCH ADVISORS LP | 1.3M | $14.2M | -2.5% | 1.639% | 0.09% |
| 17 | Ensign Peak Advisors, Inc | 1.1M | $11.4M | -35.4% | 1.319% | 0.02% |
| 18 | Propel Bio Management, LLC | 1.1M | $11.4M | +24.9% | 1.317% | 5.96% |
| 19 | Point72 Asset Management, L.P. | 1.0M | $11.1M | β | 1.282% | 0.01% |
| 20 | VANGUARD PORTFOLIO MANAGEMENT LLC | 797K | $8.6M | +19.6% | 0.999% | 0.00% |
| 21 | SummitTX Capital, L.P. | 790K | $8.6M | -20.7% | 0.990% | 0.22% |
| 22 | HSBC HOLDINGS PLC | 710K | $7.7M | β | 0.890% | 0.00% |
| 23 | CITADEL ADVISORS LLC | 697K | $7.6M | -24.1% | 0.874% | 0.00% |
| 24 | MARSHALL WACE, LLP | 666K | $7.2M | -22.6% | 0.835% | 0.01% |
| 25 | EcoR1 Capital, LLC | 625K | $6.8M | 0.0% | 0.784% | 0.33% |
denotes a marquee investor (Buffett, Burry, ARK, Tiger Global, Pershing Square, Baupost and other widely-followed managers). β% of Fundβ shows how much of that investorβs total 13F portfolio is invested in PHAT β a direct measure of their conviction.
Filings activity in PHAT during Q2 2026, grouped by how each filer changed its position.
8 quarters of 13F filings Β· Ξ columns show change vs prior quarter
| Quarter | Inst. Holders | Ξ Holders | Ownership % | Ξ Ownership | Total 13F Value | Ξ Value |
|---|---|---|---|---|---|---|
| Q2 2026 | 162 | 6.9% | 91.27% | +3.02 pp | $764M | +0.9% |
| Q1 2026 | 174 | +0.6% | 88.25% | 0.02 pp | $758M | 25% |
| Q4 2025 | 173 | +31% | 88.27% | 1.35 pp | $1.01B | +39% |
| Q3 2025 | 132 | +12% | 89.62% | +6.06 pp | $731M | +33% |
| Q2 2025 | 118 | 13% | 83.56% | 8.57 pp | $548M | +40% |
| Q1 2025 | 136 | 6.2% | 92.13% | 5.01 pp | $392M | 29% |
| Q4 2024 | 145 | +9.0% | 97.14% | 15.44 pp | $551M | 57% |
| Q3 2024 | 133 | β | 112.58% | β | $1.28B | β |
Source: SEC 13F institutional filings. Ownership % requires market cap data and will show once linked. Ξ columns compare to the immediately prior filed quarter.
Quick answers to the most common questions about buying PHAT stock.
Based on Q2 2026 13F filings, institutional ownership of Phathom Pharmaceuticals, Inc. stands at 91.3%, held across 162 reporting institutions.
Frazier Life Sciences Management, L.P. is the largest reported institutional holder of PHAT, with approximately 12,466,489 shares worth $0.14B as of Q2 2026.
Yes β 3 widely-followed marquee investors appear among the top 25 institutional holders of PHAT, including MILLENNIUM MANAGEMENT LLC, Point72 Asset Management, L.P., CITADEL ADVISORS LLC.
Our composite Smart Money Score for PHAT is 64 out of 100 (Bullish). It combines net institutional buying activity, ownership shift, marquee investor presence, and holder-count growth.
20 institutions opened new positions in PHAT during Q2 2026, while 31 fully exited. 57 added to existing positions and 83 trimmed.
PHAT institutional ownership rose by 3.02 percentage points quarter-over-quarter, with a net change of -12 holders.
The top 10 institutions account for 62.2% of all reported 13F value in PHAT, and the top 25 account for 85.4%.
All data is sourced from SEC Form 13F filings, which institutional investment managers with at least $100M in assets are required to file each quarter. We process every 13F filing from EDGAR and recompute the aggregates after each cycle. Insider transactions are sourced from Form 4 filings.
Phathom Pharmaceuticals, Inc. (PHAT) Institutional Ownership