Amgen Inc. (NASDAQ: AMGN) is one of the world’s most established biotechnology companies. Shares recently traded near $321, giving the company a market value of about $173B. Known for high margin biologics and steady cash generation, Amgen remains a core holding for long term institutional investors.
The company benefits from durable sales across its blockbuster portfolio, expanding biosimilars, and ongoing R&D aimed at sustaining future growth. This combination of stability and upside potential keeps Amgen heavily owned by passive giants and increasingly watched by hedge funds.
Understanding who owns the stock today offers deeper insight into how sophisticated investors view Amgen’s long range fundamentals.
Who Are Amgen’s Top Shareholders?
Amgen’s shareholder base is anchored by large passive institutions, supported by selective adjustments from active managers. The overall structure reflects steady long term confidence despite the typical volatility seen in biopharma.
Amgen’s Largest Shareholders
- The Vanguard Group: 53,624,187 shares (9.96%), $17,225.7M value. Cut 236,608 shares (0.44%).
- State Street Investment Management: 29,304,093 shares (5.44%), $9,413.4M value. Cut 52,933 shares (0.18%).
- BlackRock Institutional Trust Company: 28,525,868 shares (5.30%), $9,163.4M value. Cut 304,247 shares (1.06%).
- Capital International Investors: 19,192,995 shares (3.56%), $6,165.4M value. Added 282,219 shares (1.49%).
- Capital World Investors: 18,795,474 shares (3.49%), $6,037.7M value. Added 1,935,876 shares (11.48%).
- Charles Schwab Investment Management: 13,550,612 shares (2.52%), $4,352.9M value. Added 656,935 shares (5.10%).
- Geode Capital Management: 13,267,515 shares (2.46%), $4,261.9M value. Added 248,898 shares (1.91%).
- Invesco Capital Management (QQQ Trust): 11,286,518 shares (2.09%), $3,625.6M value. Cut 29,952 shares (0.26%).
- PRIMECAP Management Company: 9,707,609 shares (1.80%), $3,118.4M value. Cut 924,100 shares (8.69%).
- Morgan Stanley Smith Barney: 8,894,679 shares (1.65%), $2,857.2M value. Added 77,142 shares (0.87%).
- Wells Fargo Advisors: 6,844,490 shares (1.27%), $2,198.7M value. Cut 79,460 shares (1.15%).
For investors, this structure suggests ongoing confidence in Amgen’s margin durability and long term cash flow stability.
Hedge Fund Highlights
One highlight from last quarter is Two Sigma Advisers, founded by John Overdeck and David Siegel, which expanded its Amgen stake by 1,392.68% to 61.20k shares worth $17.27M. The size of the increase suggests the firm may be identifying a favorable risk reward setup as Amgen leans on high margin biologics.
Another meaningful shift comes from Jane Street Group, which lifted its holdings by 1,077.52% to 60.18k shares valued at $16.98M. With its quant driven style, the firm appears to be responding to supportive signals around Amgen’s pricing strength and defensive characteristics.
A third important change is Citadel Advisors, founded by Ken Griffin, which boosted its position by 418.15% to 150.85k shares worth $42.57M. This may reflect greater conviction in Amgen’s earnings visibility and product diversification.
Also notable is Millennium Management, founded by Israel Englander, which increased its stake by 325.26% to 144.93k shares valued at $40.90M. The move suggests optimism toward Amgen’s mix of steady cash generation and long term pipeline opportunities.
For investors, the broad accumulation from several multi strategy hedge funds indicates strengthening sentiment around Amgen’s long term profile.
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Amgen’s Recent Insider Trades
Insider activity during the quarter included modest sales across several executives and small purchases by directors. While motivations are not always clear, the transactions appear limited and do not meaningfully affect overall ownership.
Recent Insider Activity
- Nancy A. Grygiel (Officer): Sold 1,639 shares at $337.26 and 1,500 shares at $337.26 on 11/19/25.
- Murdo Gordon (Officer): Sold 6,879 shares at $336.83 on 11/11/25.
- David M. Reese (Officer): Sold 309 shares and 6,490 shares, with filings listing $0 as transaction prices.
- Rachna Khosla (Officer): Sold 890 shares at $336.24.
- Directors Holley, Ishrak, Drake: Purchased 219 to 265 shares, which appears administrative.
For investors, insider trading looks neutral, with activity that appears tied to standard portfolio decisions rather than a specific view on near term performance.
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What the Ownership & Insider Trade Data Tell Us
Amgen’s ownership base remains anchored by the largest passive managers, with selective buying from active funds reinforcing long term confidence in the company’s cash flow durability. Hedge fund accumulation was strong this quarter, suggesting improved sentiment around Amgen’s margin profile and pipeline potential. Insider activity was modest and does not alter the broader ownership picture.
For investors, the combined data supports Amgen’s positioning as a stable large cap biopharma company capable of generating consistent earnings and steady long term compounding.
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