Novavax (NVAX): which funds own it
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Sections with a free account
3 concentrated managers hold it (+1 vs last quarter) with a median weight of 3.2%.
Who owns Novavax?
Holders reporting more than 5% of the shares to the SEC (Schedules 13D/13G): BlackRock, 8.4% (13G/A filed Feb 5, 2025), Shah Capital Management, 7.3% (13D/A filed Oct 14, 2025), State Street, 7.1% (13G filed Aug 7, 2026), Shah Capital Management, 6.5% (13G filed Oct 16, 2026) and Shah Capital Management, 6.5% (13D/A filed Oct 16, 2026). As of Jun 30, 2026, the largest holders reported on Form 13F were Shah Capital Management (8.6% of the shares), BlackRock (8.5%) and State Street (7.1%).
Which institutions hold the most Novavax shares?
Per Form 13F filings as of Jun 30, 2026, as a share of all shares outstanding:
- 1. Shah Capital Management: 8.6%
- 2. BlackRock: 8.5%
- 3. State Street: 7.1%
- 4. Vanguard Portfolio Management: 4.6%
- 5. Vanguard Capital Management: 4.4%
- 6. Sanofi: 4.2%
- 7. D. E. Shaw: 3.4%
- 8. Geode Capital Management: 2.6%
- 9. Two Sigma Investments: 2.5%
- 10. Coatue Management: 2.3%
How much of Novavax do institutions own?
The 267 institutions that file 13F reported 71.4% of the shares as of Jun 30, 2026 (not counting 1 position with implausible figures).
Sources:13G/A by BlackRock (Feb 5, 2025) ↗13D/A by Shah Capital Management (Oct 14, 2025) ↗13G by State Street (Aug 7, 2026) ↗13G by Shah Capital Management (Oct 16, 2026) ↗13D/A by Shah Capital Management (Oct 16, 2026) ↗All of the company's proxy statements on EDGAR ↗
13F percentages divide the shares each institution reports by the shares outstanding on the cover of the company's latest report before the quarter end (Apr 30, 2026). Entities of the same group file separately and are not added up. We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.
Novavax revenue
Novavax reported annual revenue of $1.12 billion for fiscal year 2025 (year ended December 31, 2025), according to its Form 10-K filed with the SEC (XBRL data).
Well-known investors holding it
Quarter flow (concentrated managers)
Change in managers (2 → 3): 0 opened · 0 exited · 1 more with no comparable data = +1
“No comparable data”: managers whose previous-quarter portfolio we cannot compare (first 13F, or they did not file that quarter), plus spin-offs and corporate exits (mergers, delistings). They change the count without being a clean buy or sale. It is a net figure: “more” when more of them enter the count than leave it, “fewer” when it is the other way round. Here: 1 entered with no comparable quarter.
Net flow in the quarter: −$6.4M (−680 K shares) · bought $0 and sold $6.4MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.
Concentrated managers holding it
- Shah Capital ManagementReduced$133M25.4%−1.2 pp
- Coatue Management$36.1M0.1%
- TSP Capital Management GroupNo comparable data$13.4M3.2%+3.2 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Largest holders of NVAX (all 13F filers)
- Shah Capital Managementconcentrated14.2 MInvestment firm · 8.59% of the company−680 K
- BlackRock13.9 MIndex manager · 8.46% of the company+1.1 M
- State Street11.7 MIndex manager · 7.12% of the company+2.8 M
- Vanguard Portfolio Management7.6 MIndex manager · 4.61% of the company+456 K
- Vanguard Capital Management7.3 MIndex manager · 4.40% of the company+127 K
- Sanofi6.9 MOperating company · 4.17% of the company0
- D. E. Shaw5.7 MQuant or multi-manager · 3.43% of the company−2.1 M
- Geode Capital Management4.2 MIndex manager · 2.55% of the company+309 K
- Two Sigma Investments4.1 MQuant or multi-manager · 2.48% of the company+3.5 M
- Coatue Managementconcentrated3.8 MInvestment firm · 2.33% of the company0
- Shah Capital Managementconcentrated
- Shares
- 14.2 M
- Change
- −680 K
- % of the company
- 8.59%
See more
- Type
- Investment firm
- Value
- $133M
- Shares
- 13.9 M
- Change
- +1.1 M
- % of the company
- 8.46%
See more
- Type
- Index manager
- Value
- $131M
- Shares
- 11.7 M
- Change
- +2.8 M
- % of the company
- 7.12%
See more
- Type
- Index manager
- Value
- $111M
- Shares
- 7.6 M
- Change
- +456 K
- % of the company
- 4.61%
See more
- Type
- Index manager
- Value
- $71.7M
- Shares
- 7.3 M
- Change
- +127 K
- % of the company
- 4.40%
See more
- Type
- Index manager
- Value
- $68.4M
- Sanofi
- Shares
- 6.9 M
- Change
- 0
- % of the company
- 4.17%
See more
- Type
- Operating company
- Value
- $64.8M
- Shares
- 5.7 M
- Change
- −2.1 M
- % of the company
- 3.43%
See more
- Type
- Quant or multi-manager
- Value
- $53.2M
- Shares
- 4.2 M
- Change
- +309 K
- % of the company
- 2.55%
See more
- Type
- Index manager
- Value
- $39.6M
- Shares
- 4.1 M
- Change
- +3.5 M
- % of the company
- 2.48%
See more
- Type
- Quant or multi-manager
- Value
- $38.5M
- Coatue Managementconcentrated
- Shares
- 3.8 M
- Change
- 0
- % of the company
- 2.33%
See more
- Type
- Investment firm
- Value
- $36.1M
The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.
Held by institutions (13F)
Institutions (13F): 71.4% of the shares · top 10: 48.3% · in index firms: 42.5% of the institutional total
Q2 2026: 71.4%
Shares reported by the 267 13F filers as of Jun 30, 2026 (not counting 1 position with implausible figures), divided by the shares outstanding on the cover of the company's latest report (Apr 30, 2026). It is not all institutional ownership: only managers above $100M file a 13F, and it excludes short positions. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. We only publish it where the figure is credible: not for ADRs, companies with more than one share class or stale shares-outstanding data.
Fundamentals
12-month figures to Jun 30, 2026 · balance sheet as of Jun 30, 2026.
- Operating margin
- -56.6%
- Net margin
- -59.9%
- ROE
- —
- Revenue (TTM)
- $414M
- Revenue growth
- -61.6%
- Net income (TTM)
- $-248M
- Net debt / EBITDA
- —
- Free cash flow (TTM)
- —
- Quality vs sector
- 8/100
Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated
Shares outstanding: buybacks and dilution
2025: 173.1 M
There is a jump that may be an undetected split: we do not show the changes.
- Buybacks (FY 2025)
- no data
- Share issuance
- $0
- Stock-based compensation
- $36.0M3.2% of revenue
- Dividends paid
- no data
From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.
Earnings quality and debt
- Operating cash flow ÷ net income (12 months)
- no datanot calculated with negative net income
- Interest coverage (operating income ÷ interest)
- 20.1 timesfiscal 2025
- Debt due within 12 months
- $4.1M0.01 times cash and investments
From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.
Insiders (Form 4)
10% owners who bought (6 m): 0
Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.
Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →
Above 5% (13D/13G)
Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.
This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.
- Shah Capital Management6.46%13Gfiling ↗Event: Oct 16, 2026 · filed: Oct 16, 2026
- Shah Capital Management6.46%13D · amendmentfiling ↗Event: Oct 16, 2026 · filed: Oct 16, 2026
- State Street7.1%13Gfiling ↗Event: Jun 30, 2026 · filed: Aug 7, 2026
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
All material events (8-K)
Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.
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