Ascendis Pharma A/SASND
13F holders, Q2 2025 (June 30)247holders +3
42new positions
39sold out
3famous investors
$172.60avg. 13F price*
At the end of Q2 2025, 247 institutions reported holding Ascendis Pharma A/S (ASND) in their 13F filings, up 3 from Q1 2025. 42 opened new positions and 39 sold out. The largest holders were Ra Capital Management, L.P. ($1.8B), Westfield Capital Management Co. LP ($940.9M) and Avoro Capital Advisors LLC ($859.5M). 3 famous investors held it, including Ken Griffin (0.1% of Citadel Advisors's portfolio), Israel Englander (0.0% of Millennium Management's portfolio) and David E. Shaw (0.0% of D. E. Shaw & Co.'s portfolio).
- Company
- Ascendis Pharma A/S
- CUSIP
- 04351P101
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q1 2025 → Q2 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 42 | $316.0M |
| Exits | 39 | $227.3M |
All 13F filers, Q1 2025 → Q2 2025: 4,425,068 shares bought and 6,708,631 shares sold, net −2,283,563 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 247 holders
| Ra Capital Management, L.P. | 29.91% | No change | 10,281,496 | $1.8B |
| Westfield Capital Management Co. LP | 3.95% | Reduce -0.5% | 5,451,401 | $940.9M |
| Avoro Capital Advisors LLC | 15.05% | Reduce -4.6% | 4,980,000 | $859.5M |
| FMR LLC | 0.04% | Reduce -3.0% | 4,531,724 | $782.2M |
| Janus Henderson Group PLC | 0.37% | Reduce -1.3% | 4,427,792 | $764.4M |
| Artisan Partners Limited Partnership | 1.03% | Reduce -6.3% | 3,990,424 | $688.7M |
| T. Rowe Price Investment Management, Inc. | 0.39% | Add +17.4% | 3,583,546 | $618.5M |
| Capital International Investors | 0.09% | Add +6.0% | 3,046,931 | $525.9M |
| Massachusetts Financial Services Co. | 0.10% | Add +1.3% | 1,901,843 | $328.3M |
| T. Rowe Price Associates Inc. | 0.04% | Reduce -16.9% | 1,875,491 | $323.7M |
| Franklin Resources Inc. | 0.08% | Add +6.9% | 1,753,468 | $302.6M |
| Perceptive Advisors LLC | 6.24% | New | 963,886 | $166.4M |
| Invesco Ltd. | 0.03% | Reduce -21.0% | 947,226 | $163.5M |
| Wellington Management Group LLP | 0.03% | Add +56.2% | 918,095 | $158.5M |
| Polar Capital Holdings Plc | 0.76% | Add +59.6% | 837,777 | $144.6M |
| Ameriprise Financial Inc. | 0.03% | Reduce -13.5% | 588,069 | $101.5M |
| Citadel Advisors | 0.09% | Reduce -47.8% | 587,342 | $101.4M |
| Goldman Sachs Group Inc. | 0.01% | Reduce -8.1% | 538,287 | $92.9M |
| American Century Companies Inc. | 0.05% | Add +14.8% | 530,809 | $91.6M |
| BlackRock, Inc. | 0.00% | Reduce -8.8% | 471,726 | $81.4M |
| FIL Ltd | 0.07% | Add +0.4% | 464,096 | $80.1M |
| Adage Capital Partners Gp, L.L.C. | 0.13% | Add +40.4% | 459,606 | $79.3M |
| Alliancebernstein L.P. | 0.02% | Reduce -12.6% | 377,701 | $65.2M |
| Woodline Partners LP | 0.28% | Add +0.2% | 305,454 | $52.7M |
| TD Asset Management Inc | 0.04% | Reduce -14.9% | 292,090 | $50.4M |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 0.12% | Reduce -16.1% | 276,984 | $47.8M |
| Voloridge Investment Management, LLC | 0.17% | Reduce -23.9% | 263,267 | $45.4M |
| Q Global Advisors, LLC | 37.54% | Add +2.5% | 255,000 | $44.0M |
| Morgan Stanley | 0.00% | Reduce -86.6% | 254,785 | $44.0M |
| Camber Capital Management LP | 6.01% | Reduce -28.6% | 250,000 | $43.1M |
| Siren, L.L.C. | 2.20% | Reduce -14.4% | 245,943 | $42.4M |
| Sei Investments Co. | 0.05% | Reduce -8.3% | 236,570 | $40.8M |
| PFM Health Sciences, LP | 3.40% | Add +18.6% | 221,754 | $38.3M |
| Victory Capital Management Inc. | 0.02% | Add +75.4% | 219,118 | $37.8M |
| Rock Springs Capital Management LP | 2.34% | Add +0.5% | 217,000 | $37.5M |
| ARS Investment Partners, LLC | 2.64% | Reduce -20.8% | 209,930 | $36.2M |
| JPMorgan Chase & Co. | 0.00% | Add +12.4% | 208,141 | $35.9M |
| Qube Research & Technologies Ltd | 0.05% | Add +83.4% | 201,044 | $34.7M |
| Vestal Point Capital, LP | 1.82% | Add +33.2% | 200,000 | $34.5M |
| Allspring Global Investments Holdings, LLC | 0.06% | Add +5.6% | 200,257 | $34.4M |
| Candriam S.C.A. | 0.20% | Reduce -19.6% | 195,115 | $33.7M |
| Driehaus Capital Management LLC | 0.27% | Add +28.5% | 195,108 | $33.7M |
| New York State Common Retirement Fund | 0.04% | Reduce -10.7% | 182,558 | $31.5M |
| Catalio Capital Management, LP | 6.51% | Reduce -8.0% | 179,926 | $31.1M |
| BNP Paribas Financial Markets | 0.02% | Add +16.2% | 165,667 | $28.6M |
| Resolute Capital Asset Partners LLC | 14.49% | Reduce -4.1% | 160,672 | $27.7M |
| Rice Hall James & Associates, LLC | 1.49% | Reduce -0.4% | 160,110 | $27.6M |
| Lord, Abbett & Co. LLC | 0.09% | New | 154,176 | $26.6M |
| Loomis Sayles & Co. L P | 0.03% | Reduce -15.1% | 148,497 | $25.6M |
| Tri Locum Partners LP | 7.73% | Add +356.7% | 147,642 | $25.5M |
| Aberdeen Group plc | 0.04% | Reduce -18.7% | 139,606 | $24.1M |
| First Turn Management, LLC | 4.34% | Add +18.9% | 134,687 | $23.2M |
| Frazier Life Sciences Management, L.P. | 0.92% | No change | 133,333 | $23.0M |
| Summit Partners Public Asset Management, LLC | 0.87% | New | 130,000 | $22.4M |
| Moore Capital Management, LP | 0.44% | Add +33.3% | 120,000 | $20.7M |
| Bank of New York Mellon Corp | 0.00% | Add +31.8% | 117,616 | $20.3M |
| Marshall Wace, LLP | 0.02% | Add +425.5% | 117,162 | $20.2M |
| Macquarie Group Ltd. | 0.02% | New | 116,735 | $20.1M |
| Readystate Asset Management LP | 1.31% | New | 100,917 | $17.4M |
| Bank of America Corp. | 0.00% | Reduce -29.1% | 97,818 | $16.9M |
| Silverarc Capital Management, LLC | 3.06% | Add +14.3% | 86,552 | $14.9M |
| Pictet Asset Management Holding SA | 0.01% | Reduce -19.9% | 85,538 | $14.7M |
| Soleus Capital Management, L.P. | 1.01% | Add +51.0% | 85,000 | $14.7M |
| UBS Group AG | 0.00% | Reduce -52.4% | 82,760 | $14.3M |
| Harbor Capital Advisors, Inc. | 0.57% | Reduce -8.6% | 78,560 | $13.6M |
| Millennium Management | 0.01% | Reduce -72.5% | 72,888 | $12.6M |
| DAFNA Capital Management LLC | 3.51% | Reduce -9.6% | 72,677 | $12.5M |
| Trexquant Investment LP | 0.13% | Add +46.6% | 64,135 | $11.1M |
| Oddo BHF Asset Management Sas | 0.42% | New | 63,547 | $11.0M |
| Ensign Peak Advisors, Inc | 0.02% | No change | 61,724 | $10.7M |
| Geode Capital Management, LLC | 0.00% | Add +5.1% | 60,804 | $10.5M |
| Manufacturers Life Insurance Company, The | 0.01% | Reduce -26.4% | 58,251 | $10.1M |
| State Street Corp. | 0.00% | Reduce -12.8% | 58,203 | $10.0M |
| Schroder Investment Management Group | 0.01% | Reduce -45.7% | 56,989 | $9.8M |
| Sterling Capital Management LLC | 0.13% | Add +6.7% | 54,509 | $9.4M |
| Lazard Asset Management LLC | 0.01% | Add +22.0% | 52,628 | $9.1M |
| Diversified Trust Co. | 0.17% | Reduce -2.4% | 45,418 | $7.8M |
| Parkman Healthcare Partners LLC | 0.84% | New | 42,108 | $7.3M |
| Walleye Capital LLC | 0.07% | Add +155.1% | 40,403 | $7.0M |
| Zimmer Partners, LP | 0.16% | Add +11.6% | 40,300 | $7.0M |
| Saturn V Capital Management LP | 2.67% | Reduce -80.8% | 38,191 | $6.6M |
| Orbimed Advisors LLC | 0.15% | New | 34,400 | $5.9M |
| Voya Investment Management LLC | 0.01% | Add +88.8% | 33,325 | $5.8M |
| Empowered Funds, LLC | 0.06% | New | 33,196 | $5.7M |
| Wells Fargo & Company | 0.00% | Add +30.8% | 31,491 | $5.4M |
| Troluce Capital Advisors LLC | 2.64% | New | 30,000 | $5.2M |
| DekaBank Deutsche Girozentrale | 0.01% | No change | 30,000 | $5.1M |
| Deutsche Bank AG | 0.00% | Add +3.8% | 29,731 | $5.1M |
| Russell Investments Group, Ltd. | 0.01% | Add +23.7% | 29,367 | $5.1M |
| Bellevue Group AG | 0.11% | Add +1408.2% | 28,655 | $4.9M |
| Capital International Sarl | 0.09% | Add +10.9% | 28,161 | $4.9M |
| Principal Financial Group Inc. | 0.00% | New | 28,116 | $4.9M |
| Matisse Capital | 2.28% | Reduce -5.8% | 27,942 | $4.8M |
| Citigroup Inc. | 0.00% | Add +23.3% | 26,099 | $4.5M |
| Nomura Asset Management Co. Ltd. | 0.01% | Add +20.4% | 25,645 | $4.4M |
| Brown Advisory Inc. | 0.01% | Reduce -1.4% | 25,505 | $4.4M |
| Neuberger Berman Group LLC | 0.00% | Reduce -49.9% | 23,234 | $4.0M |
| Acuta Capital Partners, LLC | 5.44% | Reduce -3.3% | 22,576 | $3.9M |
| Envestnet Asset Management Inc. | 0.00% | Add +83.4% | 21,730 | $3.8M |
| Capital International Ltd. | 0.14% | Add +1.5% | 20,498 | $3.5M |
| Erste Asset Management GmbH | 0.03% | No change | 20,300 | $3.5M |
| Stifel Financial Corp. | 0.00% | Add +24.1% | 19,970 | $3.4M |
| Sit Investment Associates Inc. | 0.07% | No change | 19,405 | $3.3M |
| Kennedy Capital Management LLC | 0.08% | Add +630.5% | 18,628 | $3.2M |
| Evolutionary Tree Capital Management, LLC | 3.38% | Reduce -10.7% | 18,454 | $3.2M |
| Sector Gamma As | 0.96% | No change | 17,000 | $2.9M |
| SG Americas Securities, LLC | 0.01% | New | 16,915 | $2.9M |
| ExodusPoint Capital Management, LP | 0.03% | New | 16,545 | $2.9M |
| Atika Capital Management LLC | 0.30% | Reduce -53.4% | 16,400 | $2.8M |
| Henry James International Management Inc. | 0.91% | Reduce -10.6% | 15,956 | $2.8M |
| Verition Fund Management LLC | 0.02% | New | 15,324 | $2.6M |
| Nan Fung Group Holdings Ltd | 3.70% | No change | 13,600 | $2.3M |
| Atom Investors LP | 0.21% | New | 13,438 | $2.3M |
| Handelsbanken Fonder AB | 0.01% | Add +6.0% | 12,267 | $2.1M |
| Artia Global Partners LP | 0.54% | Add +64.5% | 12,240 | $2.1M |
| China Universal Asset Management Co., Ltd. | 0.20% | Add +0.6% | 12,186 | $2.1M |
| Barclays PLC | 0.00% | Add +14.8% | 11,929 | $2.1M |
| Engineers Gate Manager LP | 0.03% | Reduce -0.8% | 11,694 | $2.0M |
| Natixis Advisors, LLC | 0.00% | New | 10,650 | $1.8M |
| Advisors Asset Management, Inc. | 0.03% | Add +13.9% | 10,472 | $1.8M |
| Capital International, Inc. | 0.02% | Add +9.0% | 9,753 | $1.7M |
| Nuveen, LLC | 0.00% | New | 9,561 | $1.7M |
| Allianz Asset Management GmbH | 0.00% | Add +144.7% | 9,300 | $1.6M |
| Dorsey Wright & Associates | 0.38% | New | 9,272 | $1.6M |
| Cinctive Capital Management LP | 0.09% | Add +20.6% | 9,214 | $1.6M |
| CIBC Private Wealth Group LLC | 0.00% | No change | 8,378 | $1.4M |
| Diversify Wealth Management, LLC | 0.09% | Add +19.1% | 7,139 | $1.4M |
| PNC Financial Services Group, Inc. | 0.00% | Reduce -10.2% | 7,701 | $1.3M |
| Avior Wealth Management, LLC | 0.05% | No change | 7,561 | $1.3M |
| LPL Financial LLC | 0.00% | Add +108.8% | 7,267 | $1.3M |
| D. E. Shaw & Co. | 0.00% | Reduce -65.0% | 7,186 | $1.2M |
| Public Employees Retirement System of Ohio | 0.00% | Reduce -4.8% | 7,026 | $1.2M |
| Gilbert & Cook, Inc. | 0.16% | Add +2.0% | 6,750 | $1.2M |
| AdvisorShares Investments LLC | 0.20% | New | 6,518 | $1.1M |
| Caption Management, LLC | 0.10% | Reduce -75.0% | 6,499 | $1.1M |
| Guggenheim Capital LLC | 0.01% | Reduce -11.6% | 6,235 | $1.1M |
| XTX Topco Ltd | 0.04% | Add +61.9% | 6,066 | $1.0M |
| Mirae Asset Global Investments Co., Ltd. | 0.00% | Reduce -15.0% | 6,023 | $1.0M |
| Main Management ETF Advisors, LLC | 0.04% | Add +1.7% | 5,864 | $1.0M |
| Creative Planning | 0.00% | Add +48.0% | 5,383 | $929K |
| Crossmark Global Holdings, Inc. | 0.01% | Reduce -8.2% | 5,368 | $927K |
| Squarepoint Ops LLC | 0.00% | New | 5,197 | $897K |
| Boothbay Fund Management, LLC | 0.03% | New | 4,770 | $823K |
| Atria Investments, Inc | 0.01% | Add +80.6% | 4,416 | $762K |
| DNB Asset Management AS | 0.00% | Reduce -15.4% | 4,217 | $728K |
| Sigma Planning Corp | 0.02% | Add +170.9% | 4,104 | $708K |
| Tema ETFs LLC | 0.19% | Reduce -33.2% | 4,078 | $704K |
| NEOS Investment Management LLC | 0.01% | Reduce -33.2% | 4,078 | $704K |
| Y-Intercept (Hong Kong) Ltd | 0.02% | New | 3,951 | $682K |
| Capital Group Investment Management Pte. LTD. | 0.12% | No change | 3,882 | $670K |
| Fred Alger Management, LLC | 0.00% | Reduce -94.1% | 3,795 | $655K |
| Daiwa Securities Group Inc. | 0.00% | Add +66.2% | 3,737 | $645K |
| Chicago Partners Investment Group LLC | 0.02% | Add +4.5% | 3,732 | $635K |
| Sectoral Asset Management Inc. | 0.40% | Add +66.0% | 3,471 | $599K |
| Cetera Investment Advisers | 0.00% | New | 3,200 | $552K |
| Mercer Global Advisors Inc. | 0.00% | New | 3,128 | $540K |
| Two Sigma Investments, LP | 0.00% | Reduce -83.4% | 3,115 | $538K |
| TD Waterhouse Canada Inc. | 0.00% | Add +7.2% | 3,055 | $525K |
| Quarry LP | 0.13% | Reduce -9.1% | 3,000 | $518K |
| HighVista Strategies LLC | 0.19% | Reduce -51.0% | 2,974 | $513K |
| Corient Private Wealth LP | 0.00% | Reduce -15.1% | 2,883 | $498K |
| Diversify Advisory Services, LLC | 0.02% | Add +23.5% | 2,458 | $482K |
| Polen Capital Management LLC | 0.00% | New | 2,719 | $469K |
| Nicholas Investment Partners, LP | 0.05% | New | 2,637 | $455K |
| Walleye Trading LLC | 0.01% | Reduce -33.8% | 2,605 | $450K |
| Virtus Investment Advisers, LLC | 0.15% | Reduce -5.3% | 2,600 | $449K |
| Aquatic Capital Management LLC | 0.01% | Reduce -92.1% | 2,417 | $417K |
| Assetmark, Inc. | 0.00% | Add +3346.4% | 2,378 | $410K |
| ProShare Advisors LLC | 0.00% | Reduce -16.9% | 2,265 | $391K |
| Algert Global LLC | 0.01% | Reduce -14.7% | 2,175 | $375K |
| Altfest L J & Co. Inc. | 0.04% | Add +3.0% | 2,174 | $375K |
| Schonfeld Strategic Advisors LLC | 0.00% | Reduce -96.9% | 1,871 | $323K |
| Mariner, LLC | 0.00% | Reduce -5.8% | 1,793 | $309K |
| Legato Capital Management LLC | 0.04% | No change | 1,747 | $302K |
| Royal Bank of Canada | 0.00% | Reduce -94.6% | 1,723 | $297K |
| Integrated Wealth Concepts LLC | 0.00% | New | 1,717 | $296K |
| GF Fund Management Co. LTD. | 0.01% | No change | 1,544 | $266K |
| Aigen Investment Management, LP | 0.03% | Add +0.8% | 1,475 | $255K |
| Pursue Wealth Partners LLC | 0.14% | No change | 1,451 | $250K |
| Rhumbline Advisers | 0.00% | Add +4.0% | 1,441 | $249K |
| ADAR1 Capital Management, LLC | 0.04% | No change | 1,402 | $242K |
| Farallon Capital Management, L.L.C. | 0.00% | No change | 1,400 | $242K |
| New Wave Wealth Advisors LLC | 0.10% | Reduce -2.8% | 1,386 | $239K |
| Choreo, LLC | 0.00% | New | 1,378 | $238K |
| Birch Financial Group, LLC | 0.19% | Reduce -9.2% | 1,357 | $234K |
| Personal Cfo Solutions, LLC | 0.04% | New | 1,340 | $231K |
| Vanguard Personalized Indexing Management, LLC | 0.00% | Add +0.8% | 1,326 | $229K |
| Raymond James Financial Inc. | 0.00% | Reduce -75.6% | 1,302 | $225K |
| Dearborn Partners LLC | 0.01% | No change | 1,300 | $224K |
| Vident Advisory, LLC | 0.00% | Reduce -26.4% | 1,288 | $222K |
| Moody Aldrich Partners LLC | 0.04% | New | 1,285 | $222K |
| Vise Technologies, Inc. | 0.01% | — | 1,284 | $222K |
| R Squared Ltd | 0.12% | New | 1,212 | $209K |
| Headlands Technologies LLC | 0.02% | New | 1,196 | $206K |
| LVW Advisors, LLC | 0.02% | New | 1,168 | $202K |
| Barometer Capital Management Inc. | 0.05% | No change | 1,004 | $173K |
| Clearstead Advisors, LLC | 0.00% | Add +1363.8% | 849 | $147K |
| Brooklyn Investment Group | 0.02% | Add +120.0% | 781 | $135K |
| Signaturefd, LLC | 0.00% | Add +2.7% | 657 | $113K |
| GAMMA Investing LLC | 0.01% | Add +8.7% | 638 | $110K |
| CI Investments Inc. | 0.00% | Reduce -4.4% | 626 | $108K |
| Toth Financial Advisory Corp. | 0.01% | Reduce -91.7% | 445 | $77K |
| Hantz Financial Services, Inc. | 0.00% | Add +291.1% | 352 | $61K |
| KBC Group NV | 0.00% | Reduce -13.4% | 356 | $61K |
| Blue Trust, Inc. | 0.00% | Reduce -11.1% | 327 | $56K |
| Osaic Holdings, Inc. | 0.00% | Reduce -3.6% | 324 | $56K |
| US Bancorp \de | 0.00% | Reduce -1.6% | 310 | $54K |
| Legal & General Group Plc | 0.00% | Reduce -60.8% | 305 | $53K |
| First Horizon Advisors, Inc. | 0.00% | New | 235 | $41K |
| Compagnie Lombard Odier SCmA | 0.00% | New | 224 | $39K |
| Farther Finance Advisors, LLC | 0.00% | Add +33.7% | 222 | $38K |
| Tower Research Capital LLC (TRC) | 0.00% | Reduce -62.0% | 213 | $37K |
| EverSource Wealth Advisors, LLC | 0.00% | Reduce -19.2% | 211 | $36K |
| Fifth Third Bancorp | 0.00% | Add +7.2% | 209 | $36K |
| Wilmington Savings Fund Society, FSB | 0.00% | No change | 203 | $35K |
| Parallel Advisors, LLC | 0.00% | No change | 156 | $27K |
| Jones Financial Companies LLLP | 0.00% | Reduce -58.5% | 145 | $25K |
| Group One Trading LLC | 0.00% | Reduce -96.2% | 142 | $25K |
| Caitong International Asset Management Co., Ltd | 0.02% | Reduce -51.8% | 137 | $24K |
| J.Safra Asset Management Corp | 0.00% | Reduce -21.7% | 130 | $22K |
| Geneos Wealth Management Inc. | 0.00% | Add +658.8% | 129 | $22K |
| GW&K Investment Management, LLC | 0.00% | New | 101 | $17K |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.00% | Reduce -14.4% | 83 | $14K |
| State of Wyoming | 0.00% | New | 70 | $12K |
| Aventura Private Wealth, LLC | 0.00% | No change | 57 | $10K |
| Bell Investment Advisors, Inc | 0.00% | Add +22.7% | 54 | $9K |
| Arax Advisory Partners | 0.00% | New | 54 | $9K |
| Washington Trust Advisors, Inc. | 0.00% | No change | 52 | $9K |
| Bayforest Capital Ltd | 0.00% | New | 51 | $9K |
| Hollencrest Capital Management | 0.00% | No change | 48 | $8K |
| Cullen/Frost Bankers, Inc. | 0.00% | No change | 45 | $8K |
| Roxbury Financial LLC | 0.01% | Add +320.0% | 42 | $7K |
| Truvestments Capital LLC | 0.00% | No change | 37 | $6K |
| Ascentis Wealth Management, LLC | 0.00% | New | 25 | $4K |
| Bellevue Asset Management, LLC | 0.00% | No change | 19 | $3K |
| Global Retirement Partners, LLC | 0.00% | — | 14 | $2K |
| Physician Wealth Advisors, Inc. | 0.00% | No change | 10 | $2K |
| Allworth Financial LP | 0.00% | New | 10 | $2K |
| Leonteq Securities AG | 0.00% | Reduce -79.0% | 8 | $1K |
| MAI Capital Management | 0.00% | No change | 7 | $1K |
| Principal Securities, Inc. | 0.00% | Add +16.7% | 7 | $1K |
| Steward Partners Investment Advisory, LLC | 0.00% | New | 7 | $1K |
| ORG Partners LLC | 0.00% | No change | 6 | $1K |
| WealthCollab, LLC | 0.00% | No change | 3 | $518 |
| Binnacle Investments Inc | 0.00% | No change | 3 | $518 |
| SBI Securities Co., Ltd. | 0.00% | No change | 3 | $518 |
| TD Private Client Wealth LLC | 0.00% | No change | 2 | $345 |
"% of holder's portfolio" is ASND's weight in each manager's 13F, not the share of Ascendis Pharma A/S the manager owns.