Gilead Sciences, Inc. (NASDAQ: GILD) is one of the most established names in antiviral medicine and a company that has generated decades of strong cash flow from its HIV and hepatitis C portfolios. Shares recently closed near $121, giving the company a market value of roughly $150.5B.
Although Gilead Sciences built its reputation on antiviral leadership, the company is now in the middle of a long term strategic shift toward oncology. This transition is shaping how institutions think about growth, particularly as newer treatments like Trodelvy work to offset slower expansion in legacy franchises. The result is a business with resilient margins and durable cash generation, but also one where investors are carefully evaluating the balance between near term revenue dynamics and long term clinical opportunities.
Looking at who owns Gilead Sciences today, how hedge funds adjusted positions, and what insiders have been doing with their shares helps clarify how the market currently views the company’s long term earnings power and margin durability.
Who Are Gilead Sciences Top Shareholders?
Gilead Sciences is predominantly owned by large passive institutions, creating a stable long term base. Active managers made selective adjustments last quarter, reflecting a range of views on valuation and pipeline execution.
Gilead Sciences Largest Shareholders
- The Vanguard Group: 118,388,631 shares (9.54 percent), ~$14.37B value. Cut 392,366 shares (0.33 percent).
- BlackRock Institutional Trust: 72,727,964 shares (5.86 percent), ~$8.83B value. Added 1,925,484 shares (2.72 percent).
- State Street Investment Management: 59,089,305 shares (4.76 percent), ~$7.17B value. Cut 98,855 shares (0.17 percent).
- Fidelity Management & Research Company: 53,798,859 shares (4.34 percent), ~$6.53B value. Added 39,020 shares (0.07 percent).
- Capital World Investors: 45,179,931 shares (3.64 percent), ~$5.48B value. Cut 1,123,368 shares (2.43 percent).
- Dodge & Cox: 30,133,131 shares (2.43 percent), ~$3.66B value. Cut 685,191 shares (2.22 percent).
- Capital Research Global Investors: 30,014,046 shares (2.42 percent), ~$3.64B value. Cut 1,083,633 shares (3.48 percent).
- Geode Capital Management: 29,928,986 shares (2.41 percent), ~$3.63B value. Added 721,324 shares (2.47 percent).
- Invesco Capital Management (QQQ Trust): 26,011,157 shares (2.10 percent), ~$3.16B value. Cut 70,724 shares (0.27 percent).
- Wellington Management: 25,618,534 shares (2.06 percent), ~$3.11B value. Cut 11,911,976 shares (31.74 percent).
These shifts show a stable passive foundation, while active institutions appear more selective as Gilead Sciences manages the evolution of its core antiviral business and accelerates investment in oncology, which provides important context for investors.
Hedge Fund Highlights
One notable highlight from last quarter is Paul Tudor Jones, who lifted his Gilead Sciences position by 620.36 percent, adding about 110.38k shares to reach roughly $14.23M in value. It appears like a meaningful re-engagement with a long proven cash generator founded by Michael Riordan.
Another standout increase came from Jeremy Grantham’s GMO, which boosted its holdings by 283.75 percent. The firm added approximately 68.01k shares for a position valued near $10.21M, suggesting GMO may be seeing stronger risk reward as the oncology pipeline develops.
A third significant move came from Jane Street Group, which raised its position by 254.46 percent by adding about 634.95k shares. The stake is now roughly $98.18M, indicating heightened interest in potential clinical catalysts and supportive trading conditions.
A fourth highlight is Squarepoint Ops, which expanded its holdings by 134.85 percent by adding about 459.20k shares, bringing the total to around $88.77M. The increase appears to reflect improving expectations for Gilead Sciences long term earnings visibility.
Together, these moves show that several sophisticated hedge funds have turned more constructive on Gilead Sciences outlook, which may signal improving sentiment for investors.
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Gilead Sciences Recent Insider Trades
Insider filings show mostly small transactions that appear administrative or compensation related rather than directional shifts.
Recent Insider Activity
- Kelly A. Kramer (Director): Sold multiple ~2,805 share blocks at ~$127; acquired comparable awards at $81; filed administrative entries.
- Daniel O’Day (Chief Executive Officer): Sold 6,788 shares at $126.84 and 3,212 shares at $125.91; filed administrative entries.
- Jeffrey Bluestone (Director): Sold two 5,000 share blocks at $125.08; acquired 5,000 shares at $64.92; filed administrative entries.
- Andrew D. Dickinson (Chief Financial Officer): Sold 2,500 shares at $125.23; filed administrative entries.
These trades remain small relative to Gilead Sciences total ownership and do not appear to reflect a shift in executive conviction for investors.
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What the Ownership & Insider Trade Data Tell Us
Gilead Sciences continues to be anchored by major passive institutions, while hedge funds have shown renewed interest through several large position increases. Active managers remain mixed, and insider transactions appear modest. For investors, the combined picture points to steady institutional confidence supported by strong cash flow, with potential upside tied to the company’s oncology strategy and long term clinical execution.
A deeper look at the positioning suggests that investors are essentially pricing Gilead Sciences as a stable earnings compounder rather than a high growth biopharma. This matters because even modest traction in oncology or incremental margin improvement could have an outsized impact on sentiment. Hedge fund accumulation hints that some professional investors see this disconnect as an opportunity, particularly given the company’s predictable cash generation and the potential for pipeline wins to shift the narrative.
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