New Positions
17 managers initiated
Top five by reported value
- J. Goldman & Co LP$6.2M
- MILLENNIUM MANAGEMENT LLC$3.5M
- Ikarian Capital, LLC$1.9M
- SEI INVESTMENTS CO$843.1K
- BOOTHBAY FUND MANAGEMENT, LLC$520.0K
Journey Medical Corp NASDAQ NMS - GLOBAL MARKET:DERM
Institutional holders, quarter-over-quarter share deltas, and new and closed positions disclosed in Form 13F. Period 2025-12-31 · prior 2025-09-30.
17 new34 added25 reduced8 exited
Total Institutional Holders
76
as of 2025-12-31
Top Holder
TANG CAPITAL MANAGEMENT LLC
$14.3M
Largest QoQ Increase
J. Goldman & Co LP
+798,366 sh
Largest QoQ Decrease
Sheets Smith Investment Management
-132,904 sh
New Positions(17)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| J. Goldman & Co LP | 798,366 | +798,366 | $6.2M | +$6.2M | — |
| MILLENNIUM MANAGEMENT LLC | 457,812 | +457,812 | $3.5M | +$3.5M | — |
| Ikarian Capital, LLC | 251,436 | +251,436 | $1.9M | +$1.9M | — |
| SEI INVESTMENTS CO | 109,351 | +109,351 | $843.1K | +$843.1K | — |
| BOOTHBAY FUND MANAGEMENT, LLC | 67,442 | +67,442 | $520.0K | +$520.0K | — |
| LAZARD ASSET MANAGEMENT LLC | 62,525 | +62,525 | $482.1K | +$482.1K | — |
| Diametric Capital, LP | 51,683 | +51,683 | $398.5K | +$398.5K | — |
| Focus Partners Wealth | 19,710 | +19,710 | $152.0K | +$152.0K | — |
| MARSHALL WACE, LLP | 19,401 | +19,401 | $149.6K | +$149.6K | — |
| Invesco Ltd. | 16,526 | +16,526 | $127.4K | +$127.4K | — |
| XTX Topco Ltd | 16,396 | +16,396 | $126.4K | +$126.4K | — |
| JANE STREET GROUP, LLC | 13,957 | +13,957 | $107.6K | +$107.6K | — |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | 12,249 | +12,249 | $94.4K | +$94.4K | — |
| DEUTSCHE BANK AG\ | 11,560 | +11,560 | $89.1K | +$89.1K | — |
| SIMPLEX TRADING, LLC | 434 | +434 | $3.3K | +$3.3K | — |
| FEDERATED HERMES, INC. | 144 | +144 | $1.1K | +$1.1K | — |
| PNC Financial Services Group, Inc. | 74 | +74 | $571 | +$571 | — |
Added To(34)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| Pale Fire Capital SE | 444,642 | +216,075 | $3.4M | +$1.8M | 94.5% |
| VANGUARD GROUP INC | 764,147 | +148,918 | $5.9M | +$1.5M | 24.2% |
| UBS Group AG | 290,226 | +145,006 | $2.2M | +$1.2M | 99.8% |
| BlackRock, Inc. | 719,784 | +86,725 | $5.5M | +$1.0M | 13.7% |
| WASATCH ADVISORS INC | 1,316,275 | +10,003 | $10.1M | +$847.8K | 0.8% |
| Opaleye Management Inc. | 975,000 | +3,936 | $7.5M | +$603.3K | 0.4% |
| GEODE CAPITAL MANAGEMENT, LLC | 313,970 | +36,124 | $2.4M | +$442.4K | 13.0% |
| CITADEL ADVISORS LLC | 69,415 | +55,025 | $535.2K | +$432.7K | 382.4% |
| Summit Financial, LLC | 390,419 | +10,590 | $3.0M | +$305.7K | 2.8% |
| STATE STREET CORP | 173,337 | +27,300 | $1.3M | +$296.6K | 18.7% |
| BNP PARIBAS ARBITRAGE, SNC | 27,819 | +25,131 | $214.5K | +$195.3K | 934.9% |
| STATE OF WISCONSIN INVESTMENT BOARD | 45,795 | +9,957 | $353.1K | +$97.9K | 27.8% |
| WELLS FARGO & COMPANY/MN | 15,748 | +8,215 | $121.4K | +$67.8K | 109.0% |
| NORTHERN TRUST CORP | 93,669 | +927 | $722.2K | +$61.9K | 1.0% |
| Jump Financial, LLC | 20,183 | +6,373 | $155.6K | +$57.3K | 46.1% |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 35,507 | +5,056 | $273.8K | +$56.9K | 16.6% |
| MORGAN STANLEY | 26,500 | +5,768 | $204.3K | +$56.7K | 27.8% |
| Bank of New York Mellon Corp | 28,738 | +4,246 | $221.6K | +$47.2K | 17.3% |
| BARCLAYS PLC | 22,403 | +4,837 | $160.9K | +$35.8K | 27.5% |
| OCCUDO QUANTITATIVE STRATEGIES LP | 18,913 | +3,443 | $145.8K | +$35.7K | 22.3% |
| AQR CAPITAL MANAGEMENT LLC | 51,270 | +436 | $395.3K | +$33.4K | 0.8% |
| Royal Bank of Canada | 5,729 | +3,638 | $44.0K | +$30.0K | 174.0% |
| Creative Planning | 50,510 | +10 | $389.4K | +$29.9K | 0.0% |
| SALEM INVESTMENT COUNSELORS INC | 14,300 | +2,200 | $110.3K | +$24.1K | 18.2% |
| Gladstone Institutional Advisory LLC | 29,071 | +500 | $224.1K | +$20.7K | 1.8% |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 6,672 | +1,061 | $51.4K | +$11.5K | 18.9% |
| JPMORGAN CHASE & CO | 5,839 | +900 | $45.0K | +$9.9K | 18.2% |
| Tower Research Capital LLC (TRC) | 2,469 | +743 | $19.0K | +$6.7K | 43.0% |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | 886 | +128 | $6.8K | +$1.4K | 16.9% |
| FMR LLC | 196 | +177 | $1.5K | +$1.4K | 931.6% |
| Sterling Capital Management LLC | 80 | +50 | $617 | +$403 | 166.7% |
| GAMMA Investing LLC | 182 | +18 | $1.4K | +$235 | 11.0% |
| AMALGAMATED BANK | 452 | +37 | $3 | $0 | 8.9% |
| CWM, LLC | 39 | +21 | $0 | $0 | 116.7% |
Reduced(25)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| TANG CAPITAL MANAGEMENT LLC | 1,854,596 | 0 | $14.3M | +$1.1M | 0.0% |
| PVG ASSET MANAGEMENT CORP | 51,632 | -98,132 | $398.1K | -$677.2K | -65.5% |
| ENVESTNET ASSET MANAGEMENT INC | 33,594 | -27,356 | $259.0K | -$175.0K | -44.9% |
| ESSEX INVESTMENT MANAGEMENT CO LLC | 345,977 | -8,044 | $2.7M | +$146.9K | -2.3% |
| RENAISSANCE TECHNOLOGIES LLC | 244,000 | -3,900 | $1.9M | +$116.2K | -1.6% |
| AMERICAN FINANCIAL GROUP INC | 180,000 | 0 | $1.4M | +$106.2K | 0.0% |
| GOLDMAN SACHS GROUP INC | 19,203 | -14,850 | $148.1K | -$94.4K | -43.6% |
| Atria Investments, Inc | 13,077 | -12,553 | $100.8K | -$81.7K | -49.0% |
| BANK OF AMERICA CORP /DE/ | 10,805 | -10,732 | $83.3K | -$70.0K | -49.8% |
| EAM Investors, LLC | 89,389 | 0 | $689.2K | +$52.7K | 0.0% |
| Russell Investments Group, Ltd. | 1,116 | -7,456 | $8.6K | -$52.4K | -87.0% |
| Geneos Wealth Management Inc. | 63,280 | 0 | $487.9K | +$37.3K | 0.0% |
| Integrated Wealth Concepts LLC | 44,020 | -330 | $339.4K | +$23.6K | -0.7% |
| ADVISOR GROUP HOLDINGS, INC. | 9,047 | -3,135 | $69.7K | -$18.0K | -25.7% |
| Neuberger Berman Group LLC | 15,951 | -3,781 | $123.0K | -$17.5K | -19.2% |
| Nuveen, LLC | 15,710 | 0 | $121.1K | +$9.3K | 0.0% |
| SJS Investment Consulting Inc. | 15,000 | 0 | $115.7K | +$8.8K | 0.0% |
| TITLEIST ASSET MANAGEMENT, LLC | 12,900 | 0 | $99.5K | +$7.6K | 0.0% |
| RHUMBLINE ADVISERS | 9,761 | -1,346 | $75.3K | -$3.8K | -12.1% |
| NEW YORK STATE COMMON RETIREMENT FUND | 5,500 | 0 | $42.4K | +$3.2K | 0.0% |
| Police & Firemen's Retirement System of New Jersey | 4,002 | 0 | $30.9K | +$2.4K | 0.0% |
| CITIGROUP INC | 326 | -193 | $2.5K | -$1.2K | -37.2% |
| Legal & General Group Plc | 1,347 | 0 | $10.4K | +$794 | 0.0% |
| Ameritas Investment Partners, Inc. | 1,239 | 0 | $9.6K | +$731 | 0.0% |
| Federation des caisses Desjardins du Quebec | 300 | 0 | $2.3K | +$177 | 0.0% |
Sold Out(8)
| Manager | Shares | Δ Shares | Value | Δ Value | % Δ |
|---|---|---|---|---|---|
| Sheets Smith Investment Management | 0 | -132,904 | $0 | -$946.3K | — |
| Buckingham Strategic Partners | 0 | -20,006 | $0 | -$179.1K | — |
| Walleye Capital LLC | 0 | -22,554 | $0 | -$160.6K | — |
| Kovitz Investment Group Partners, LLC | 0 | -21,710 | $0 | -$154.6K | — |
| BRIGHTON JONES LLC | 0 | -16,842 | $0 | -$119.9K | — |
| Kestra Advisory Services, LLC | 0 | -10,209 | $0 | -$72.7K | — |
| Allegiance Financial Group Advisory Services LLC | 0 | -10,000 | $0 | -$71.2K | — |
| SRS Capital Advisors, Inc. | 0 | -46 | $0 | -$327 | — |
Top Holders by reported value
Ranked by the dollar value reported on the latest Form 13F. Share counts reflect long positions as of 2025-12-31.
| Manager | Shares | $ Value | Δ Shares | QoQ % |
|---|---|---|---|---|
| TANG CAPITAL MANAGEMENT LLC | 1,854,596 | $14.3M | 0 | 0.0% |
| WASATCH ADVISORS INC | 1,316,275 | $10.1M | +10,003 | 0.8% |
| Opaleye Management Inc. | 975,000 | $7.5M | +3,936 | 0.4% |
| J. Goldman & Co LP | 798,366 | $6.2M | +798,366 | — |
| VANGUARD GROUP INC | 764,147 | $5.9M | +148,918 | 24.2% |
| BlackRock, Inc. | 719,784 | $5.5M | +86,725 | 13.7% |
| MILLENNIUM MANAGEMENT LLC | 457,812 | $3.5M | +457,812 | — |
| Pale Fire Capital SE | 444,642 | $3.4M | +216,075 | 94.5% |
| Summit Financial, LLC | 390,419 | $3.0M | +10,590 | 2.8% |
| ESSEX INVESTMENT MANAGEMENT CO LLC | 345,977 | $2.7M | -8,044 | -2.3% |
| GEODE CAPITAL MANAGEMENT, LLC | 313,970 | $2.4M | +36,124 | 13.0% |
| UBS Group AG | 290,226 | $2.2M | +145,006 | 99.8% |
| Ikarian Capital, LLC | 251,436 | $1.9M | +251,436 | — |
| RENAISSANCE TECHNOLOGIES LLC | 244,000 | $1.9M | -3,900 | -1.6% |
| AMERICAN FINANCIAL GROUP INC | 180,000 | $1.4M | 0 | 0.0% |
| STATE STREET CORP | 173,337 | $1.3M | +27,300 | 18.7% |
| SEI INVESTMENTS CO | 109,351 | $843.1K | +109,351 | — |
| NORTHERN TRUST CORP | 93,669 | $722.2K | +927 | 1.0% |
| EAM Investors, LLC | 89,389 | $689.2K | 0 | 0.0% |
| CITADEL ADVISORS LLC | 69,415 | $535.2K | +55,025 | 382.4% |
New & Closed Positions this quarter
Closed Positions
8 managers exited
Top five by prior-quarter value
- Sheets Smith Investment Management$946.3K
- Buckingham Strategic Partners$179.1K
- Walleye Capital LLC$160.6K
- Kovitz Investment Group Partners, LLC$154.6K
- BRIGHTON JONES LLC$119.9K
Methodology
Form 13F is the SEC's quarterly disclosure for institutional investment managers exercising discretion over $100 million or more in qualifying U.S. equity securities. Managers must file within 45 days of each calendar quarter end, which is why holdings shown here reflect a snapshot at the period date — not real-time positioning.
Quarter-over-quarter deltas compare each manager's most recently reported share count for DERM against its prior-quarter count. New positions are entries where the prior count was zero; closed positions are entries where the current count is zero. Amendments (13F-HR/A) replace prior filings for the same period.
Source: SEC EDGAR Form 13F (XML information tables). Dollar values are as reported by the manager and may use mid-quarter pricing conventions. CUSIP-to-ticker resolution is best-effort.