Laughing Water Capital’s New Position: Theravance Biopharma (TBPH)
Laughing Water Capital, an investment management company, released its first-quarter 2026 investor letter. A copy of the letter can be downloaded here.
| No. | Hedge Fund | Shares | Value | Activity | % Port |
|---|---|---|---|---|---|
| 1. | Madison Avenue Partners Eli Samaha | 9,511,150 | $154,365,965 | 6.71% | |
| 2. | Weiss Asset Management Andrew Weiss | 7,457,060 | $121,028,084 | 2.05% | |
| 3. | Newtyn Management Noah Levy And Eugene Dozortsev | 4,841,629 | $78,579,639 | +13% | 8.4% |
| 4. | Irenic Capital Management Adam Katz And Andy Dodge | 2,760,948 | $44,810,186 | 2.92% | |
| 5. | Two Sigma Advisors John Overdeck And David Siegel | 1,258,497 | $20,425,406 | +232% | 0.02% |
| Insider | Price | Amount | Total Value | Remaining Holdings | Date | Form 4 |
|---|---|---|---|---|---|---|
| $7.80 | 999,800 | $7,798,440.00 | 9,511,150 | 2024-08-07 | Filing | |
| $8.75 | 499,324 | $4,369,085.00 | 8,511,350 | 2024-05-01 | Filing | |
| $8.75 | 999,800 | $8,748,250.00 | 8,012,026 | 2024-05-01 | Filing | |
| $22.54 | 1,000 | $22,540.00 | 56,757 | 2018-05-21 | Filing | |
| $26.34 | 4,000 | $105,358.80 | 213,180 | 2017-08-21 | Filing |
| Insider | Price | Amount | Total Value | Remaining Holdings | Date | Form 4 |
|---|---|---|---|---|---|---|
| $13.92 | 7,766 | $108,073.21 | 232,699 | 2026-03-16 | Filing | |
| $14.00 | 15,534 | $217,476.00 | 240,465 | 2026-03-16 | Filing | |
| $13.92 | 7,767 | $108,087.90 | 255,999 | 2026-03-16 | Filing | |
| $18.75 | 15,534 | $291,251.63 | 277,695 | 2025-12-03 | Filing | |
| $18.75 | 7,766 | $145,618.71 | 293,229 | 2025-12-03 | Filing |
| No. | Name | Shares | Value | % Port |
|---|---|---|---|---|
| 1. | 4,296,290 | $69,728,786 | 0% | |
| 2. | 1,783,753 | $28,950,311 | 0% | |
| 3. | 1,297,323 | $21,055,552 | 0% | |
| 4. | 1,137,462 | $18,462,688 | 0% | |
| 5. | 983,615 | $15,959,902 | 0% |