Ligand Pharmaceuticals Incorporated
US ˙ NasdaqGM ˙ US53220K5048

SecurityLGND / Ligand Pharmaceuticals Incorporated
InstitutionJanus Henderson Group Plc
Latest Disclosed Ownership1,042,378 shares
Ownership 5.30%
Janus Henderson Group Plc ownership in LGND / Ligand Pharmaceuticals Incorporated

2025-11-14 - Janus Henderson Group Plc has filed an SCHEDULE 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 1,042,378 shares of Ligand Pharmaceuticals Incorporated (US:LGND). This represents 5.3 percent ownership of the company. In their previous filing dated 2025-08-14 , Janus Henderson Group Plc had reported owning 1,060,734 shares, indicating a decrease of -1.73 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2025-11-14 2025-11-14 13G/A 1,060,734 1,042,378 -1.73 5.30 -3.64
2025-08-14 2025-08-14 13G/A 1,028,066 1,060,734 3.18 5.50 3.77
2025-05-14 2025-05-14 13G/A 1,015,023 1,028,066 1.28 5.30 -1.85
2025-02-14 2025-02-14 13G/A 1,009,094 1,015,023 0.59 5.40 -1.82
2024-11-14 2024-11-14 13G/A 1,343,154 1,009,094 -24.87 5.50 -28.57
2024-02-13 2024-02-13 13G/A 1,255,273 1,343,154 7.00 7.70 4.05
2023-02-10 2023-02-10 13G/A 1,441,085 1,255,273 -12.89 7.40 -13.95
2022-02-10 2022-02-10 13G/A 1,612,369 1,441,085 -10.62 8.60 -14.00
2021-02-11 2021-02-11 13G/A 1,847,210 1,612,369 -12.71 10.00 -4.76
2020-01-10 2020-01-10 13G 1,847,210 10.50

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-18 2026-03-31 13F/A-1 LIGAND PHARMACEUTICALS COM NEW 53220K504 1,009,891 14,491 1.46 201,623 7.13 0.0340
2026-05-15 2026-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,009,891 14,491 1.46 201,623 7.13 0.0374
2026-02-17 2025-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 995,400 -46,978 -4.51 188,199 1.92 0.0843
2025-11-14 2025-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,042,378 -18,356 -1.73 184,646 53.13 0.0843
2025-08-14 2025-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,060,734 33,185 3.23 120,585 9.04 0.0591
2025-05-15 2025-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,027,549 12,526 1.23 110,583 1.68 0.0606
2025-02-14 2024-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,015,023 5,929 0.59 108,757 7.68 0.0553
2024-11-14 2024-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,009,094 361 0.04 101,000 18.83 0.0517
2024-08-14 2024-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,008,733 256 0.03 84,995 15.30 0.0455
2024-05-15 2024-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,008,477 -334,677 -24.92 73,718 -23.15 0.0402
2024-02-14 2023-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,343,154 1,281 0.10 95,928 19.31 0.0572
2023-11-14 2023-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,341,873 -2,682 -0.20 80,405 -17.06 0.0527
2023-08-14 2023-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,344,555 84,670 6.72 96,942 4.60 0.0603
2023-05-15 2023-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,259,885 4,612 0.37 92,677 10.52 0.0611
2023-02-14 2022-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,255,273 -7,060 -0.56 83,852 -22.86 0.0599
2023-01-13 2022-09-30 13F/A-1 LIGAND PHARMACEUTICALS COM NEW 53220K504 1,262,333 -127,155 -9.15 108,700 -12.32 0.0814
2022-11-14 2022-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,262,333 -127,155 108,700 0.0276
2022-08-15 2022-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,389,488 421 0.03 123,970 -20.66 0.0855
2022-05-16 2022-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,389,067 -52,018 -3.61 156,256 -29.80 0.0754
2022-02-14 2021-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,441,085 -21,815 -1.49 222,589 9.21 0.0928
2021-11-16 2021-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,462,900 18,679 1.29 203,811 7.57 0.0891
2021-08-16 2021-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,444,221 186,424 14.82 189,467 -1.19 0.0811
2021-05-17 2021-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,257,797 -354,572 -21.99 191,751 19.58 0.0875
2021-02-16 2020-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,612,369 6,328 0.39 160,350 4.74 0.0745
2020-11-16 2020-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,606,041 1,067 0.07 153,088 -14.72 0.0798
2020-08-14 2020-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,604,974 13,392 0.84 179,516 55.10 0.1008
2020-05-14 2020-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,591,582 -225,892 -12.43 115,740 -38.94 0.0797
2020-02-18 2019-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,817,474 251,452 16.06 189,544 21.59 0.0970
2019-11-14 2019-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,566,022 23,352 1.51 155,882 -11.48 0.0844
2019-07-31 2019-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,542,670 157,604 11.38 176,096 1.14 0.0959
2019-04-30 2019-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 1,385,066 396,166 40.06 174,117 29.75 0.0965
2019-02-06 2018-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 988,900 88,813 9.87 134,194 -45.68 0.0856
2018-11-09 2018-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 900,087 -27,014 -2.91 247,065 28.63 0.1320
2018-08-10 2018-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 927,101 54,990 6.31 192,068 33.35 0.1095
2018-05-14 2018-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 872,111 -42,274 -4.62 144,038 15.04 0.0849
2018-03-12 2017-12-31 13F/A-1 LIGAND PHARMACEUTICALS COM NEW 53220K504 914,385 159,693 21.16 125,207 21.85 0.0771
2018-02-09 2017-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 914,385 159,693 125,207
2017-11-14 2017-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 754,692 159,201 26.73 102,751 42.13 0.0659
2017-08-17 2017-06-30 13F/A-1 LIGAND PHARMACEUTICALS COM NEW 53220K504 595,491 595,491 72,293 0.0493
2017-08-14 2017-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 595,491 72,293 0.0494
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.