Apellis PharmaceuticalsAPLS
13F holders, Q2 2025 (June 30)At the end of Q2 2025, 247 institutions reported holding Apellis Pharmaceuticals Inc. (APLS) in their 13F filings, down 8 from Q1 2025. 39 opened new positions and 49 sold out. The largest holders were Avoro Capital Advisors LLC ($211.6M), EcoR1 Capital, LLC ($205.9M) and Vanguard Group Inc. ($175.8M). 6 famous investors held it, including Cliff Asness (0.1% of AQR Capital Management's portfolio), Joel Greenblatt (0.0% of Gotham Asset Management's portfolio) and Ken Griffin (0.0% of Citadel Advisors's portfolio).
- Company
- Apellis Pharmaceuticals Inc.
- CUSIP
- 03753U106
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q1 2025 → Q2 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 39 | $65.6M |
| Exits | 49 | $96.4M |
All 13F filers, Q1 2025 → Q2 2025: 20,772,156 shares bought and 17,257,692 shares sold, net +3,514,464 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 247 holders
| Avoro Capital Advisors LLC | 3.71% | No change | 12,222,222 | $211.6M |
| EcoR1 Capital, LLC | 12.22% | No change | 11,895,808 | $205.9M |
| Vanguard Group Inc. | 0.00% | Add +0.2% | 10,154,751 | $175.8M |
| Morgan Stanley | 0.01% | Add +1.3% | 9,752,201 | $168.8M |
| Wellington Management Group LLP | 0.03% | Reduce -27.0% | 8,976,962 | $155.4M |
| Deep Track Capital, LP | 3.90% | Add +40.0% | 7,000,000 | $121.2M |
| BlackRock, Inc. | 0.00% | Add +1.2% | 6,404,999 | $110.9M |
| AQR Capital Management | 0.09% | Add +46.6% | 5,976,414 | $103.5M |
| UBS Group AG | 0.02% | Add +44.7% | 4,735,311 | $82.0M |
| State Street Corp. | 0.00% | Reduce -9.6% | 3,562,721 | $61.7M |
| Montanova Capital, LLC | 1.88% | Add +74.8% | 2,878,000 | $49.8M |
| Marshall Wace, LLP | 0.06% | Add +11373.8% | 2,704,837 | $46.8M |
| Jennison Associates LLC | 0.03% | Add +7.4% | 2,661,823 | $46.1M |
| Siren, L.L.C. | 2.31% | No change | 2,578,396 | $44.6M |
| Bank of America Corp. | 0.00% | Reduce -22.5% | 2,426,628 | $42.0M |
| Norges Bank | 0.01% | Add +50.4% | 2,367,224 | $41.0M |
| Geode Capital Management, LLC | 0.00% | Add +2.3% | 1,995,271 | $34.5M |
| Amundi | 0.01% | Add +386.7% | 1,604,105 | $28.6M |
| Deutsche Bank AG | 0.01% | Reduce -15.8% | 1,496,296 | $25.9M |
| Orbimed Advisors LLC | 0.65% | Add +3.5% | 1,482,300 | $25.7M |
| Polar Capital Holdings Plc | 0.12% | Reduce -14.3% | 1,352,175 | $23.4M |
| BNP Paribas Financial Markets | 0.02% | Add +16.9% | 1,298,459 | $22.5M |
| Braidwell LP | 0.93% | Reduce -32.1% | 1,121,034 | $19.4M |
| Wells Fargo & Company | 0.00% | Add +22470.4% | 1,043,655 | $18.1M |
| Charles Schwab Investment Management Inc. | 0.00% | Add +2.6% | 989,143 | $17.1M |
| Octagon Capital Advisors LP | 3.43% | Reduce -56.9% | 903,500 | $15.6M |
| Camber Capital Management LP | 2.05% | New | 850,000 | $14.7M |
| Royal Bank of Canada | 0.00% | Add +0.3% | 797,585 | $13.8M |
| Ameriprise Financial Inc. | 0.00% | Add +60.8% | 750,161 | $13.0M |
| Bank of Nova Scotia | 0.02% | New | 594,812 | $10.3M |
| Jefferies Financial Group Inc. | 0.17% | Reduce -3.5% | 578,205 | $10.0M |
| Jump Financial, LLC | 0.12% | Add +110.3% | 558,668 | $9.7M |
| Ossiam | 0.11% | New | 555,953 | $9.6M |
| Capitolis Liquid Global Markets LLC | 0.07% | New | 544,600 | $9.4M |
| Woodline Partners LP | 0.05% | Add +142.6% | 530,923 | $9.2M |
| Northern Trust Corp. | 0.00% | Add +1.4% | 525,882 | $9.1M |
| Schroder Investment Management Group | 0.01% | Add +91.9% | 485,615 | $8.4M |
| Hudson Bay Capital Management LP | 0.06% | Add +52.9% | 475,000 | $8.2M |
| Nuveen, LLC | 0.00% | Reduce -4.7% | 469,253 | $8.1M |
| Voloridge Investment Management, LLC | 0.03% | Add +84.7% | 468,710 | $8.1M |
| Citadel Advisors | 0.01% | Add +97.5% | 442,560 | $7.7M |
| 683 Capital Management, LLC | 0.76% | Add +23.1% | 410,000 | $7.1M |
| Two Sigma Investments, LP | 0.01% | Add +54.8% | 406,913 | $7.0M |
| Pictet Asset Management Holding SA | 0.01% | Add +10.6% | 348,349 | $6.1M |
| Ieq Capital, LLC | 0.04% | Add +18.9% | 346,923 | $6.0M |
| Canada Pension Plan Investment Board | 0.01% | Reduce -67.9% | 336,800 | $5.8M |
| Squarepoint Ops LLC | 0.01% | Reduce -25.6% | 329,392 | $5.7M |
| Susquehanna International Group, LLP | 0.01% | Add +1014.1% | 328,726 | $5.7M |
| Trexquant Investment LP | 0.06% | Reduce -14.9% | 327,421 | $5.7M |
| ING Groep NV | 0.03% | Add +67.4% | 308,300 | $5.3M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | Add +35.6% | 301,939 | $5.2M |
| Barclays PLC | 0.00% | Add +43.2% | 273,912 | $4.7M |
| Two Sigma Advisers, LP | 0.01% | Add +33.9% | 256,800 | $4.4M |
| D. E. Shaw & Co. | 0.00% | New | 251,069 | $4.3M |
| Jane Street Group, LLC | 0.01% | Reduce -3.9% | 246,199 | $4.3M |
| Bank of New York Mellon Corp | 0.00% | Reduce -26.1% | 243,327 | $4.2M |
| JPMorgan Chase & Co. | 0.00% | Reduce -44.6% | 234,801 | $4.1M |
| Caption Management, LLC | 0.37% | Add +1824.1% | 230,888 | $4.0M |
| Edgestream Partners, L.P. | 0.11% | Reduce -9.5% | 218,392 | $3.8M |
| Goldman Sachs Group Inc. | 0.00% | Reduce -29.8% | 215,999 | $3.7M |
| Fiduciary Trust Co | 0.04% | Reduce -0.4% | 202,536 | $3.5M |
| Millennium Management | 0.00% | Reduce -55.2% | 202,452 | $3.5M |
| Aquatic Capital Management LLC | 0.06% | Reduce -18.1% | 176,704 | $3.1M |
| Invesco Ltd. | 0.00% | Reduce -74.1% | 166,135 | $2.9M |
| Y-Intercept (Hong Kong) Ltd | 0.07% | Add +455.4% | 164,275 | $2.8M |
| PDT Partners, LLC | 0.16% | Reduce -18.0% | 160,058 | $2.8M |
| Bank of Montreal | 0.00% | Add +0.7% | 159,613 | $2.8M |
| Algert Global LLC | 0.06% | Reduce -54.5% | 154,113 | $2.7M |
| Prudential Financial Inc. | 0.00% | Reduce -29.3% | 154,010 | $2.7M |
| Voya Investment Management LLC | 0.00% | Add +20.1% | 150,593 | $2.6M |
| Rafferty Asset Management, LLC | 0.01% | Reduce -20.1% | 143,852 | $2.5M |
| Swiss National Bank | 0.00% | Add +8.4% | 143,800 | $2.5M |
| Steward Partners Investment Advisory, LLC | 0.02% | Add +15.4% | 140,975 | $2.4M |
| Citigroup Inc. | 0.00% | Reduce -66.8% | 138,451 | $2.4M |
| California Public Employees Retirement System | 0.00% | Add +6.3% | 134,637 | $2.3M |
| Cwm, LLC | 0.01% | Add +29.9% | 127,584 | $2.2M |
| Rhumbline Advisers | 0.00% | Reduce -2.0% | 122,002 | $2.1M |
| Gotham Asset Management | 0.01% | Add +247.8% | 119,229 | $2.1M |
| Connor, Clark & Lunn Investment Management Ltd. | 0.01% | Reduce -10.0% | 118,724 | $2.1M |
| J. Safra Sarasin Holding AG | 0.03% | Add +145.6% | 115,684 | $2.0M |
| Cerity Partners LLC | 0.00% | Add +110.8% | 114,745 | $2.0M |
| Sphera Funds Management LTD. | 0.52% | Reduce -37.0% | 114,346 | $2.0M |
| HRT Financial LP | 0.01% | New | 107,200 | $1.9M |
| Wealth Enhancement Advisory Services, LLC | 0.00% | Add +43.5% | 100,666 | $1.8M |
| EFG Asset Management (North America) Corp. | 0.26% | Add +166.8% | 105,024 | $1.8M |
| Dark Forest Capital Management LP | 0.07% | New | 104,725 | $1.8M |
| Exome Asset Management LLC | 1.41% | New | 98,600 | $1.7M |
| Legal & General Group Plc | 0.00% | Add +21.5% | 96,050 | $1.7M |
| Verition Fund Management LLC | 0.01% | Reduce -13.5% | 95,605 | $1.7M |
| State of Wisconsin Investment Board | 0.00% | Add +11.6% | 94,404 | $1.6M |
| J. Goldman & Co LP | 0.05% | New | 93,574 | $1.6M |
| Rhenman & Partners Asset Management AB | 0.20% | Add +230.1% | 93,250 | $1.6M |
| T. Rowe Price Associates Inc. | 0.00% | Add +1.6% | 92,151 | $1.6M |
| State Board of Administration of Florida Retirement System | 0.00% | Reduce -0.5% | 91,408 | $1.6M |
| Natixis | 0.01% | Reduce -86.2% | 90,666 | $1.6M |
| California State Teachers Retirement System | 0.00% | Add +47.1% | 87,929 | $1.5M |
| HighVista Strategies LLC | 0.55% | Reduce -20.3% | 86,663 | $1.5M |
| Rock Springs Capital Management LP | 0.09% | Add +5.4% | 84,300 | $1.5M |
| Schonfeld Strategic Advisors LLC | 0.01% | Reduce -53.7% | 83,916 | $1.5M |
| Walleye Capital LLC | 0.01% | Reduce -74.4% | 81,270 | $1.4M |
| Bleakley Financial Group, LLC | 0.03% | Add +5.4% | 77,088 | $1.3M |
| Ikarian Capital, LLC | 0.43% | No change | 75,000 | $1.3M |
| Raymond James Financial Inc. | 0.00% | Add +43.3% | 74,466 | $1.3M |
| Mackenzie Financial Corp. | 0.00% | Add +78.6% | 74,165 | $1.3M |
| Phocas Financial Corp. | 0.18% | New | 71,599 | $1.2M |
| Alps Advisors Inc. | 0.01% | New | 67,761 | $1.2M |
| Landscape Capital Management, L.L.C. | 0.09% | Add +65.5% | 64,521 | $1.1M |
| New York State Common Retirement Fund | 0.00% | Add +20.6% | 58,879 | $1.0M |
| PNC Financial Services Group, Inc. | 0.00% | Add +0.8% | 58,856 | $1.0M |
| Engineers Gate Manager LP | 0.01% | Add +39.2% | 58,718 | $1.0M |
| HSBC Holdings PLC | 0.00% | Add +131.6% | 57,898 | $1.0M |
| Bayforest Capital Ltd | 0.43% | Add +8.2% | 56,639 | $980K |
| Healthcare of Ontario Pension Plan Trust Fund | 0.00% | New | 56,000 | $969K |
| Simplex Trading, LLC | 0.03% | New | 55,934 | $968K |
| Pallas Capital Advisors LLC | 0.04% | Add +28.9% | 54,849 | $949K |
| DekaBank Deutsche Girozentrale | 0.00% | No change | 55,000 | $921K |
| Treasurer of the State of North Carolina | 0.00% | Add +2.8% | 50,358 | $872K |
| T. Rowe Price Investment Management, Inc. | 0.00% | Add +3.3% | 49,308 | $854K |
| Hennion & Walsh Asset Management, Inc. | 0.03% | Add +11.0% | 49,014 | $848K |
| Cinctive Capital Management LP | 0.05% | New | 47,700 | $826K |
| SG Americas Securities, LLC | 0.00% | Reduce -87.7% | 45,103 | $781K |
| Voleon Capital Management LP | 0.04% | Add +42.9% | 43,139 | $747K |
| Graham Capital Management, L.P. | 0.02% | Add +53.1% | 43,091 | $746K |
| Erste Asset Management GmbH | 0.01% | No change | 42,000 | $732K |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.00% | Add +38.6% | 40,984 | $710K |
| Police & Firemen's Retirement System of New Jersey | 0.01% | Add +6.2% | 40,954 | $709K |
| Wealthedge Investment Advisors, LLC | 0.28% | New | 38,572 | $668K |
| Guggenheim Capital LLC | 0.01% | Add +8.8% | 38,453 | $666K |
| Mariner, LLC | 0.00% | Add +179.4% | 36,330 | $629K |
| Janus Henderson Group PLC | 0.00% | No change | 34,412 | $595K |
| Public Employees Retirement System of Ohio | 0.00% | Add +1.5% | 33,470 | $579K |
| Alliancebernstein L.P. | 0.00% | Reduce -28.9% | 31,929 | $553K |
| Prelude Capital Management, LLC | 0.05% | New | 31,139 | $539K |
| Handelsbanken Fonder AB | 0.00% | Reduce -1.3% | 30,200 | $523K |
| Focus Partners Wealth | 0.00% | Add +35.6% | 29,676 | $514K |
| Captrust Financial Advisors | 0.00% | Add +0.9% | 29,532 | $511K |
| Ensign Peak Advisors, Inc | 0.00% | No change | 29,397 | $509K |
| Profund Advisors LLC | 0.02% | Reduce -19.6% | 28,676 | $496K |
| VIRGINIA RETIREMENT SYSTEMS ET Al | 0.00% | Add +12.2% | 27,665 | $479K |
| First Trust Advisors LP | 0.00% | Reduce -86.7% | 26,538 | $459K |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 0.00% | Add +56.4% | 25,273 | $437K |
| China Universal Asset Management Co., Ltd. | 0.04% | Add +0.3% | 25,243 | $437K |
| Parallax Volatility Advisers, L.P. | 0.02% | Reduce -13.8% | 24,443 | $423K |
| Focus Partners Advisor Solutions, LLC | 0.01% | Add +47.0% | 24,350 | $422K |
| Essential Partners LLC | 0.17% | — | 23,902 | $414K |
| Toronto Dominion Bank | 0.00% | Reduce -85.5% | 23,437 | $406K |
| Virtus Investment Advisers, LLC | 0.14% | Add +110.4% | 23,073 | $399K |
| Boothbay Fund Management, LLC | 0.01% | No change | 22,997 | $398K |
| Sei Investments Co. | 0.00% | New | 22,359 | $387K |
| Arizona State Retirement System | 0.00% | Add +12.5% | 21,983 | $381K |
| Manufacturers Life Insurance Company, The | 0.00% | Reduce -11.9% | 21,973 | $380K |
| Creative Planning | 0.00% | New | 21,838 | $378K |
| AlphaQuest LLC | 0.04% | Reduce -62.1% | 21,240 | $368K |
| Two Sigma Securities, LLC | 0.05% | New | 21,168 | $366K |
| Merit Financial Group, LLC | 0.00% | Reduce -37.5% | 21,096 | $365K |
| Corton Capital Inc. | 0.42% | New | 21,011 | $364K |
| Mercer Global Advisors Inc. | 0.00% | Reduce -3.8% | 20,941 | $362K |
| Teacher Retirement System of Texas | 0.00% | Add +9.9% | 20,287 | $351K |
| FMR LLC | 0.00% | Reduce -98.7% | 19,292 | $334K |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.00% | Reduce -3.8% | 19,128 | $331K |
| Xponance LLC | 0.00% | Add +14.1% | 18,358 | $318K |
| HAP Trading, LLC | 0.14% | New | 17,937 | $310K |
| Duncan Williams Asset Management, LLC | 0.09% | Reduce -19.5% | 17,005 | $294K |
| ADAR1 Capital Management, LLC | 0.05% | No change | 17,000 | $294K |
| Quadrature Capital Ltd | 0.01% | New | 16,798 | $291K |
| Group One Trading LLC | 0.01% | Reduce -44.1% | 16,778 | $290K |
| Brighton Jones LLC | 0.01% | New | 16,539 | $286K |
| Wolverine Trading, LLC | 0.01% | Add +20.6% | 16,198 | $282K |
| E Fund Management Co., Ltd. | 0.01% | Reduce -4.6% | 16,057 | $278K |
| Sherbrooke Park Advisers LLC | 0.12% | New | 15,939 | $276K |
| KLP Kapitalforvaltning As | 0.00% | Add +20.0% | 15,600 | $270K |
| Victory Capital Management Inc. | 0.00% | Reduce -92.8% | 15,575 | $270K |
| Birchview Capital, LP | 0.24% | No change | 14,000 | $242K |
| Fox Run Management, L.L.C. | 0.04% | Reduce -11.1% | 13,967 | $242K |
| Empowered Funds, LLC | 0.00% | New | 13,487 | $233K |
| Integrated Wealth Concepts LLC | 0.00% | New | 12,583 | $218K |
| 111 Capital | 0.04% | Reduce -26.4% | 12,400 | $215K |
| Capstone Investment Advisors, LLC | 0.00% | New | 11,700 | $203K |
| Compagnie Lombard Odier SCmA | 0.00% | No change | 11,000 | $190K |
| Renaissance Technologies | 0.00% | New | 10,988 | $190K |
| Acadian Asset Management LLC | 0.00% | Reduce -58.0% | 10,082 | $174K |
| Eastern Bank | 0.00% | Reduce -53.5% | 10,000 | $173K |
| Russell Investments Group, Ltd. | 0.00% | Reduce -74.5% | 9,925 | $172K |
| Wexford Capital LP | 0.04% | New | 9,139 | $158K |
| Public Employees Retirement Association of Colorado | 0.00% | No change | 8,362 | $145K |
| Amalgamated Bank | 0.00% | Add +11.9% | 8,111 | $140K |
| Headlands Technologies LLC | 0.01% | Add +748.8% | 6,892 | $119K |
| MetLife Investment Management, LLC | 0.00% | Add +1.8% | 6,703 | $116K |
| CANADA LIFE ASSURANCE Co | 0.00% | No change | 6,189 | $107K |
| EverSource Wealth Advisors, LLC | 0.00% | Add +338.5% | 5,429 | $94K |
| Quarry LP | 0.02% | New | 5,000 | $87K |
| Mirae Asset Global Investments Co., Ltd. | 0.00% | Add +15.6% | 4,855 | $84K |
| Covestor Ltd | 0.05% | Add +15.1% | 4,600 | $80K |
| CIBC Private Wealth Group LLC | 0.00% | Reduce -81.4% | 3,504 | $61K |
| GF Fund Management Co. LTD. | 0.00% | No change | 3,185 | $55K |
| Clearstead Advisors, LLC | 0.00% | Add +71.8% | 3,111 | $54K |
| US Bancorp \de | 0.00% | Add +30.3% | 3,056 | $53K |
| Osaic Holdings, Inc. | 0.00% | Add +141.2% | 2,682 | $47K |
| STRS Ohio | 0.00% | New | 2,577 | $45K |
| KBC Group NV | 0.00% | Reduce -39.9% | 2,313 | $40K |
| Parallel Advisors, LLC | 0.00% | Add +80.0% | 1,924 | $33K |
| Tower Research Capital LLC (TRC) | 0.00% | Reduce -75.9% | 1,567 | $27K |
| Allworth Financial LP | 0.00% | Add +519.0% | 1,337 | $23K |
| Leonteq Securities AG | 0.00% | No change | 1,221 | $21K |
| Signaturefd, LLC | 0.00% | Add +204.8% | 1,198 | $21K |
| IFP Advisors, Inc | 0.00% | Add +752.4% | 1,074 | $19K |
| Lazard Asset Management LLC | 0.00% | Reduce -71.2% | 1,024 | $17K |
| Walleye Trading LLC | 0.00% | New | 761 | $13K |
| Jones Financial Companies LLLP | 0.00% | Add +10.7% | 664 | $12K |
| Aster Capital Management (DIFC) Ltd | 0.00% | New | 617 | $11K |
| Versant Capital Management, Inc | 0.00% | Add +263.9% | 604 | $10K |
| Atlantic Private Wealth, LLC | 0.01% | No change | 600 | $10K |
| Northwestern Mutual Wealth Management Co. | 0.00% | Reduce -1.0% | 600 | $10K |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 0.00% | New | 594 | $10K |
| True Wealth Design, LLC | 0.00% | Add +139.2% | 567 | $10K |
| Future Financial Wealth Managment LLC | 0.01% | No change | 500 | $9K |
| Archer Investment Corp | 0.00% | No change | 500 | $9K |
| Quintet Private Bank (Europe) S.A. | 0.00% | No change | 452 | $8K |
| Daiwa Securities Group Inc. | 0.00% | No change | 429 | $7K |
| Comerica Bank | 0.00% | Add +20.2% | 315 | $5K |
| Brooklyn Investment Group | 0.00% | Add +13.7% | 241 | $4K |
| Sterling Capital Management LLC | 0.00% | Reduce -54.0% | 165 | $3K |
| Caitong International Asset Management Co., Ltd | 0.00% | Add +216.7% | 152 | $3K |
| Evelyn Partners Investment Management LLP | 0.00% | No change | 150 | $3K |
| MassMutual Private Wealth & Trust, FSB | 0.00% | New | 106 | $2K |
| TD Private Client Wealth LLC | 0.00% | Add +75.9% | 102 | $2K |
| Financial Gravity Companies, Inc. | 0.00% | — | 100 | $2K |
| Mitsubishi UFJ Asset Management Co., Ltd. | 0.00% | No change | 97 | $2K |
| Brown Brothers Harriman & Co. | 0.00% | New | 95 | $2K |
| SBI Securities Co., Ltd. | 0.00% | Add +2.3% | 91 | $2K |
| GAMMA Investing LLC | 0.00% | Reduce -83.3% | 78 | $1K |
| Farther Finance Advisors, LLC | 0.00% | Reduce -86.9% | 66 | $1K |
| Sachetta, LLC | 0.00% | New | 60 | $1K |
| Capital Analysts, LLC | 0.00% | No change | 57 | $1K |
| Nisa Investment Advisors, LLC | 0.00% | No change | 50 | $866 |
| Parkside Financial Bank & Trust | 0.00% | Add +620.0% | 36 | $624 |
| CENTRAL TRUST Co | 0.00% | No change | 27 | $468 |
| TFC Financial Management, Inc. | 0.00% | New | 23 | $399 |
| Activest Wealth Management | 0.00% | Add +0.0% | 23 | $398 |
| SouthState Bank Corp | 0.00% | Reduce -25.0% | 15 | $260 |
| Assetmark, Inc. | 0.00% | Reduce -99.1% | 11 | $190 |
| Clearstead Trust, LLC | 0.00% | Reduce -80.4% | 10 | $174 |
| MV Capital Management, Inc. | 0.00% | Add +33.3% | 8 | $139 |
| Global Retirement Partners, LLC | 0.00% | — | 6 | $104 |
| WPG Advisers, LLC | 0.00% | No change | 5 | $87 |
| Manchester Capital Management LLC | 0.00% | No change | 3 | $52 |
| Larson Financial Group LLC | 0.00% | New | 3 | $52 |
"% of holder's portfolio" is APLS's weight in each manager's 13F, not the share of Apellis Pharmaceuticals Inc. the manager owns.