Ligand Pharmaceuticals Incorporated
US ˙ NasdaqGM ˙ US53220K5048

SecurityLGND / Ligand Pharmaceuticals Incorporated
InstitutionSei Investments Co
Latest Disclosed Ownership46,368 shares
Latest Disclosed Value $ 8,766,819
Sei Investments Co reports 69.08% increase in ownership of LGND / Ligand Pharmaceuticals Incorporated

On February 13, 2026 - Sei Investments Co filed a 13F-HR form disclosing ownership of 46,368 shares of Ligand Pharmaceuticals Incorporated (US:LGND) valued at $8,766,798 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 27,424 shares of Ligand Pharmaceuticals Incorporated. This represents a change in shares of 69.08% during the quarter. The current value of the position is $10,868,659 USD.

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)
2026-02-13 2025-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 46,368 18,944 69.08 8,767 80.48 0.0087
2025-11-13 2025-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 27,424 6,012 28.08 4,858 99.55 0.0052
2025-08-14 2025-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 21,412 1,035 5.08 2,434 13.63 0.0028
2025-05-14 2025-03-31 13F/A-1 LIGAND PHARMACEUTICALS COM NEW 53220K504 20,377 -7,105 -25.85 2,142 -27.24 0.0028
2025-05-13 2025-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 27,519 37 2,942 0.0032
2025-02-11 2024-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 27,482 677 2.53 2,945 9.77 0.0038
2024-11-12 2024-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 26,805 -21,260 -44.23 2,683 -33.78 0.0035
2024-08-13 2024-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 48,065 12,224 34.11 4,050 54.64 0.0057
2024-05-07 2024-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 35,841 24,784 224.15 2,620 231.94 0.0038
2024-02-14 2023-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 11,057 3,619 48.66 790 77.30 0.0013
2023-11-14 2023-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 7,438 230 3.19 446 -14.26 0.0008
2023-08-11 2023-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 7,208 1,758 32.26 520 29.75 0.0009
2023-05-12 2023-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 5,450 603 12.44 401 23.84 0.0007
2023-02-10 2022-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 4,847 -57 -1.16 324 -23.46 0.0007
2022-11-14 2022-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 4,904 2,121 76.21 422 68.13 0.0009
2022-08-15 2022-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 2,783 167 6.38 251 -15.20 0.0005
2022-05-13 2022-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 2,616 -10,639 -80.26 296 -85.49 0.0006
2022-02-14 2021-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 13,255 -2,033 -13.30 2,040 -4.23 0.0038
2021-11-12 2021-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 15,288 10,391 212.19 2,130 232.81 0.0045
2021-08-06 2021-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 4,897 -1,375 -21.92 640 -25.84 0.0014
2021-05-12 2021-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 6,272 -52,170 -89.27 863 -85.14 0.0022
2021-02-08 2020-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 58,442 -670 -1.13 5,808 3.09 0.0150
2020-12-04 2020-09-30 13F/A-1 LIGAND PHARMACEUTICALS COM NEW 53220K504 59,112 12,821 27.70 5,634 8.87 0.0163
2020-11-06 2020-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 60,187 13,896 5,736 13,811.0127
2020-08-17 2020-06-30 13F/A-1 LIGAND PHARMACEUTICALS COM NEW 53220K504 46,291 8,174 21.44 5,175 87.57 0.0161
2020-08-11 2020-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 24,653 -13,464 2,594 7,036.3631
2020-05-14 2020-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 38,117 13,248 53.27 2,759 4.00 0.0101
2020-02-06 2019-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 24,869 -53,783 -68.38 2,653 -66.30 0.0079
2019-11-12 2019-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 78,652 53,514 212.88 7,873 171.67 0.0201
2019-08-14 2019-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 25,138 3,816 17.90 2,898 6.62 0.0095
2019-05-15 2019-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 21,322 -6,601 -23.64 2,718 -56.43 0.0091
2019-02-13 2018-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 27,923 9,199 49.13 6,238 21.67 0.0222
2018-11-08 2018-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 18,724 -6,337 -25.29 5,127 -1.27 0.0186
2018-08-03 2018-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 25,061 11,395 83.38 5,193 129.98 0.0177
2018-05-11 2018-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 13,666 2,809 25.87 2,258 51.85 0.0087
2018-02-08 2017-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 10,857 541 5.24 1,487 5.84 0.0052
2017-11-06 2017-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 10,316 -15,353 -59.81 1,405 -54.91 0.0050
2017-07-31 2017-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 25,669 23,001 862.11 3,116 1,004.96 0.0124
2017-05-05 2017-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 2,668 -10,613 -79.91 282 -79.11 0.0012
2017-02-02 2016-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 13,281 4,597 52.94 1,350 52.37 0.0065
2016-11-04 2016-09-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 8,684 -933 -9.70 886 -22.76 0.0045
2016-08-11 2016-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 9,617 -777 -7.48 1,147 3.05 0.0069
2016-05-10 2016-03-31 13F/A-1 LIGAND PHARMACEUTICALS COM NEW 53220K504 10,394 -18,172 -63.61 1,113 -64.06 0.0069
2016-02-03 2015-12-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 28,566 11,040 62.99 3,097 106.33 0.0189
2015-11-02 2015-09-30 13F/A-1 LIGAND PHARMACEUTICALS INC COM COM NEW 53220K504 17,526 7,126 68.52 1,501 43.09 0.0138
2015-10-30 2015-09-30 13F DIREXION SHS ETF TR COM NEW 53220K504 17,526 1,501
2015-08-07 2015-06-30 13F/A-1 LIGAND PHARMACEUTICALS COM NEW 53220K504 10,400 3,811 57.84 1,049 107.31 0.0095
2015-08-04 2015-06-30 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 10,400 3,811 1,049 0.0095
2015-05-14 2015-03-31 13F/A-1 LIGAND PHARMACEUTICALS COM NEW 53220K504 6,589 6,589 506 0.0044
2015-05-01 2015-03-31 13F LIGAND PHARMACEUTICALS COM NEW 53220K504 6,589 506
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.