Trevi Therapeutics (TRVI): 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
17 concentrated managers hold it (+2 vs last quarter) with a median weight of 1.4%.
Who owns Trevi Therapeutics?
Holders reporting more than 5% of the shares to the SEC (Schedules 13D/13G): New Enterprise Associates 16, 10.5% (13D/A filed May 7, 2026), FMR, 8.8% (13G/A filed Aug 6, 2026), Frazier Life Sciences Public Fund, 7.0% (13G/A filed Nov 14, 2025) and BlackRock, 6.9% (13G/A filed Oct 27, 2026). As of Jun 30, 2026, the largest holders reported on Form 13F were NEA Management (9.3% of the shares), FMR (8.8%) and BlackRock (7.9%).
Which institutions hold the most Trevi Therapeutics shares?
Per Form 13F filings as of Jun 30, 2026, as a share of all shares outstanding:
- 1. NEA Management: 9.3%
- 2. FMR: 8.8%
- 3. BlackRock: 7.9%
- 4. Frazier Life Sciences Management: 7.0%
- 5. Wellington Management Group LLP: 4.0%
- 6. Vanguard Capital Management: 3.9%
- 7. Vivo Capital: 3.6%
- 8. Woodline Partners: 2.9%
- 9. Vestal Point Capital: 2.2%
- 10. MPM Bioimpact: 2.2%
Sources:13D/A by New Enterprise Associates 16 (May 7, 2026) ↗13G/A by FMR (Aug 6, 2026) ↗13G/A by Frazier Life Sciences Public Fund (Nov 14, 2025) ↗13G/A by BlackRock (Oct 27, 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.
Well-known investors holding it
Quarter flow (concentrated managers)
Change in managers (15 → 17): 3 opened · 1 exited = +2
Net flow in the quarter: +$14.0M (+749 K shares) · bought $87.1M and sold $73.2MShares 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.
The set of concentrated managers changed between quarters: with the set as it was then, 14 held it last quarter (the chart point); with today's set, 15 (the base for the change).
Concentrated managers holding it
- Frazier Life Sciences Management$185M4.0%
- Vivo Capital$95.0M8.7%
- Vestal Point CapitalIncreased$57.8M1.4%+0.4 pp
- MPM BioimpactReduced$57.3M3.5%−0.3 pp
- Rubric Capital ManagementReduced$46.7M0.4%−0.2 pp
- Artia Global PartnersIncreased$41.2M7.8%+0.7 pp
- First Light Asset ManagementNew$39.1M2.4%+2.4 pp
- Logos Global ManagementReduced$35.1M1.5%−0.4 pp
- Soleus Capital ManagementReduced$22.0M0.8%−0.3 pp
- Saturn V Capital ManagementNew$19.6M2.8%+2.8 pp
- Silverarc Capital ManagementIncreased$12.6M1.4%+0.3 pp
- Octagon Capital AdvisorsReduced$5.9M0.5%−1.6 pp
- Opaleye ManagementReduced$5.8M0.5%−0.1 pp
- Integral Health Asset ManagementNew$3.7M0.2%+0.2 pp
- Checkpoint CapitalIncreased$1.4M0.4%+0.1 pp
Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.
Other relevant holders
Filers with $100M or more in the stock that do not count as concentrated managers because of their type: they are left out of the counts, the consensus and the accumulation.
- NEA ManagementPrivate equity or venture capital$247M15.5%
Largest holders of TRVI (all 13F filers)
- NEA Management13.2 MPrivate equity or venture capital · 9.28% of the company0
- FMR12.6 MInvestment firm · 8.82% of the company+4.5 M
- BlackRock11.2 MIndex manager · 7.83% of the company+915 K
- Frazier Life Sciences Managementconcentrated9.9 MInvestment firm · 6.98% of the company−100
- Wellington Management Group LLP5.7 MInvestment firm · 3.99% of the company+496 K
- Vanguard Capital Management5.5 MIndex manager · 3.88% of the company+552 K
- Vivo Capitalconcentrated5.1 MInvestment firm · 3.58% of the company0
- Woodline Partners4.1 MInvestment firm · 2.86% of the company+3.1 M
- Vestal Point Capitalconcentrated3.1 MInvestment firm · 2.18% of the company+933 K
- MPM Bioimpactconcentrated3.1 MInvestment firm · 2.16% of the company−225 K
- Shares
- 13.2 M
- Change
- 0
- % of the company
- 9.28%
See more
- Type
- Private equity or venture capital
- Value
- $247M
- Shares
- 12.6 M
- Change
- +4.5 M
- % of the company
- 8.82%
See more
- Type
- Investment firm
- Value
- $234M
- Shares
- 11.2 M
- Change
- +915 K
- % of the company
- 7.83%
See more
- Type
- Index manager
- Value
- $208M
- Frazier Life Sciences Managementconcentrated
- Shares
- 9.9 M
- Change
- −100
- % of the company
- 6.98%
See more
- Type
- Investment firm
- Value
- $185M
- Shares
- 5.7 M
- Change
- +496 K
- % of the company
- 3.99%
See more
- Type
- Investment firm
- Value
- $106M
- Shares
- 5.5 M
- Change
- +552 K
- % of the company
- 3.88%
See more
- Type
- Index manager
- Value
- $103M
- Vivo Capitalconcentrated
- Shares
- 5.1 M
- Change
- 0
- % of the company
- 3.58%
See more
- Type
- Investment firm
- Value
- $95.0M
- Shares
- 4.1 M
- Change
- +3.1 M
- % of the company
- 2.86%
See more
- Type
- Investment firm
- Value
- $76.1M
- Vestal Point Capitalconcentrated
- Shares
- 3.1 M
- Change
- +933 K
- % of the company
- 2.18%
See more
- Type
- Investment firm
- Value
- $57.8M
- MPM Bioimpactconcentrated
- Shares
- 3.1 M
- Change
- −225 K
- % of the company
- 2.16%
See more
- Type
- Investment firm
- Value
- $57.3M
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): 105.0% of the shares: above 100% (securities lending or double reporting) · top 10: 51.7% · in index firms: 18.2% of the institutional total
Q2 2026: 105.0%
Shares reported by the 218 13F filers as of Jun 30, 2026, 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
- —
- Net margin
- —
- ROE
- -15.9%
- Revenue (TTM)
- —
- Revenue growth
- —
- Net income (TTM)
- $-51.1M
- Net debt / EBITDA
- —
- Free cash flow (TTM)
- $-52.9M
- Quality vs sector
- —
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: 134.7 M
There is a jump that may be an undetected split: we do not show the changes.
- Buybacks (FY 2025)
- no data
- Share issuance
- no data
- Stock-based compensation
- $5.2M
- 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)
- no data
- Debt due within 12 months
- no data
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.
Above 5% over time (13D/13G)
Each holder with its filings in order. History since December 2024.
Flagged material events (8-K)
Change in directors or officers (Item 5.02)
Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.
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.
Other Health Care stocks in managers' portfolios
Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.
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