Ultragenyx PharmaceuticalRARE

13F holders, Q4 2025 (December 31)
288holders −15
43new positions
65sold out
7famous investors
$23.01avg. 13F price*

At the end of Q4 2025, 288 institutions reported holding Ultragenyx Pharmaceutical Inc. (RARE) in their 13F filings, down 15 from Q3 2025. 43 opened new positions and 65 sold out. The largest holders were Vanguard Group Inc. ($236.1M), BlackRock, Inc. ($152.5M) and State Street Corp. ($99.0M). 7 famous investors held it, including Ken Griffin (0.0% of Citadel Advisors's portfolio), Cliff Asness (0.0% of AQR Capital Management's portfolio) and Israel Englander (0.0% of Millennium Management's portfolio).

Company
Ultragenyx Pharmaceutical Inc.
CUSIP
90400D108
Latest filing quarter
Q2 2026

History

Number of 13F holders

0100200300400 Q1 2024: 270Q1 2024Q2 2024: 275Q2 2024Q3 2024: 302Q3 2024Q4 2024: 313Q4 2024Q1 2025: 300Q1 2025Q2 2025: 310Q2 2025Q3 2025: 303Q3 2025Q4 2025: 288Q4 2025Q1 2026: 298Q1 2026Q2 2026: 311Q2 2026

Total Exit/New Position Q3 2025 → Q4 2025

InstitutionsTotal Value
New Positions43$81.8M
Exits65$217.3M

All 13F filers, Q3 2025 → Q4 2025: 16,672,292 shares bought and 19,447,701 shares sold, net −2,775,409 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.

Ownership 288 holders

Vanguard Group Inc. 0.00% Add +1.3% 10,263,815 $236.1M
BlackRock, Inc. 0.00% Add +3.2% 6,631,554 $152.5M
State Street Corp. 0.00% Add +16.5% 4,303,046 $99.0M
JPMorgan Chase & Co. 0.01% Reduce -0.9% 3,974,030 $91.4M
Sands Capital Management, LLC 0.24% Reduce -7.5% 3,485,724 $80.2M
RTW Investments, LP 0.69% Reduce -7.9% 3,000,139 $69.0M
Baker Bros. Advisors LP 0.37% No change 2,772,692 $63.8M
FMR LLC 0.00% Reduce -63.4% 2,666,249 $61.3M
Wellington Management Group LLP 0.01% Add +26.6% 2,461,910 $56.6M
Citadel Advisors 0.04% Add +602.9% 2,326,125 $53.5M
Montanova Capital, LLC 1.16% No change 2,019,000 $46.4M
Frontier Capital Management Co. LLC 0.48% Add +83.8% 1,965,084 $45.2M
BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.05% Add +22.9% 1,899,661 $43.7M
Geode Capital Management, LLC 0.00% Add +16.3% 1,838,208 $42.3M
Morgan Stanley 0.00% Add +100.7% 1,826,295 $42.0M
Jacobs Levy Equity Management, Inc. 0.16% Reduce -19.3% 1,749,268 $40.2M
T. Rowe Price Associates Inc. 0.00% Reduce -32.7% 1,554,366 $35.8M
Aberdeen Group plc 0.05% Add +51.0% 1,469,951 $33.8M
GW&K Investment Management, LLC 0.27% Add +19.6% 1,375,407 $31.6M
AQR Capital Management 0.02% Add +82.3% 1,360,497 $31.3M
Rock Springs Capital Management LP 1.50% Add +1.7% 1,267,241 $29.1M
Norges Bank 0.00% — 1,261,026 $29.0M
Bank of America Corp. 0.00% Add +85.3% 1,213,928 $27.9M
Pictet Asset Management Holding SA 0.03% Reduce -15.6% 1,231,331 $26.6M
Jane Street Group, LLC 0.03% Add +188.4% 1,021,499 $23.5M
BNP Paribas Financial Markets 0.01% Add +57.6% 903,050 $20.8M
Millennium Management 0.01% Add +787.6% 880,644 $20.3M
Russell Investments Group, Ltd. 0.02% Add +0.0% 840,820 $19.3M
Nuveen, LLC 0.00% Add +17.5% 801,473 $18.4M
Candriam S.C.A. 0.09% Add +5.9% 799,384 $18.4M
Schonfeld Strategic Advisors LLC 0.09% Reduce -35.2% 741,618 $17.1M
UBS Group AG 0.00% Add +22.3% 668,811 $15.4M
Voloridge Investment Management, LLC 0.05% Add +33.3% 643,356 $14.8M
Deutsche Bank AG 0.00% Reduce -61.2% 599,473 $13.8M
Charles Schwab Investment Management Inc. 0.00% Reduce -0.2% 598,924 $13.8M
Polar Capital Holdings Plc 0.06% Reduce -4.6% 556,628 $12.8M
Northern Trust Corp. 0.00% Add +5.5% 526,686 $12.1M
Balyasny Asset Management L.P. 0.02% New 520,054 $12.0M
HRT Financial LP 0.04% New 501,679 $11.5M
Two Sigma Advisers, LP 0.02% Reduce -7.0% 481,600 $11.1M
Jefferies Financial Group Inc. 0.09% New 477,092 $11.0M
Palo Alto Investors LP 1.48% Add +24.8% 461,294 $10.6M
Two Sigma Investments, LP 0.02% Add +30.0% 424,049 $9.8M
Fred Alger Management, LLC 0.04% Reduce -8.2% 411,863 $9.5M
Legal & General Group Plc 0.00% Add +2.1% 411,273 $9.5M
Goldman Sachs Group Inc. 0.00% Reduce -16.1% 400,358 $9.2M
Squarepoint Ops LLC 0.02% Add +192.0% 390,599 $9.0M
Renaissance Technologies 0.01% Add +1571.7% 366,100 $8.4M
Barclays PLC 0.00% Reduce -15.6% 359,148 $8.3M
Privium Fund Management B.V. 1.51% Add +23.4% 357,502 $8.2M
Teacher Retirement System of Texas 0.03% Add +1570.9% 348,350 $8.0M
D. E. Shaw & Co. 0.01% Add +45.1% 344,763 $7.9M
Manufacturers Life Insurance Company, The 0.01% Reduce -4.0% 331,169 $7.6M
GordonMD Global Investments LP 5.43% — 329,101 $7.6M
Eversept Partners, LP 0.41% New 317,182 $7.3M
Massachusetts Financial Services Co. 0.00% Reduce -38.1% 310,108 $7.1M
Franklin Resources Inc. 0.00% Reduce -54.4% 309,062 $7.1M
Sphera Funds Management LTD. 1.44% Reduce -14.7% 300,623 $6.9M
Great Point Partners LLC 2.24% New 300,000 $6.9M
Bank of New York Mellon Corp 0.00% Reduce -8.1% 298,706 $6.9M
Motley Fool Wealth Management, LLC 0.53% Reduce -16.3% 297,486 $6.8M
Newtyn Management, LLC 0.72% New 295,915 $6.8M
Verition Fund Management LLC 0.04% Add +1100.6% 282,376 $6.5M
Adage Capital Partners Gp, L.L.C. 0.01% Reduce -34.9% 280,000 $6.4M
Ameriprise Financial Inc. 0.00% Add +99.7% 276,927 $6.4M
Connor, Clark & Lunn Investment Management Ltd. 0.02% Add +234.3% 263,869 $6.1M
Ensign Peak Advisors, Inc 0.01% Add +41.2% 250,571 $5.8M
Invesco Ltd. 0.00% Reduce -71.0% 230,271 $5.3M
683 Capital Management, LLC 0.45% Add +109.8% 222,395 $5.1M
Caption Management, LLC 0.23% Add +33.4% 219,500 $5.0M
Algert Global LLC 0.08% Reduce -31.8% 219,232 $5.0M
Blue Owl Capital Holdings LP 1.52% Reduce -49.7% 212,638 $4.9M
Emerald Advisers, LLC 0.15% Reduce -49.3% 212,358 $4.9M
Los Angeles Capital Management LLC 0.02% Reduce -31.0% 134,467 $4.7M
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% Reduce -1.4% 204,107 $4.7M
Moore Capital Management, LP 0.10% Reduce -25.9% 200,000 $4.6M
Assenagon Asset Management S.A. 0.01% Reduce -21.0% 199,720 $4.6M
Fisher Asset Management 0.00% Add +18.2% 198,696 $4.6M
Nomura Asset Management International Inc. 0.01% — 182,808 $4.2M
PDT Partners, LLC 0.26% Add +12.8% 176,813 $4.1M
Schroder Investment Management Group 0.00% Add +16.6% 175,635 $4.0M
Woodline Partners LP 0.02% Reduce -37.1% 171,805 $4.0M
Swiss National Bank 0.00% Add +3.7% 171,052 $3.9M
Trexquant Investment LP 0.03% Add +6.2% 165,017 $3.8M
Royal Bank of Canada 0.00% Reduce -30.9% 163,227 $3.8M
Catalio Capital Management, LP 0.66% Reduce -44.2% 162,550 $3.7M
WCM Investment Management, LLC 0.01% Reduce -43.3% 163,272 $3.7M
Rafferty Asset Management, LLC 0.01% Add +0.4% 157,061 $3.6M
Sei Investments Co. 0.00% Reduce -19.3% 153,726 $3.5M
Susquehanna International Group, LLP 0.00% Reduce -34.9% 152,316 $3.5M
Capital Fund Management S.A. 0.03% Reduce -15.2% 150,201 $3.5M
Krensavage Asset Management, LLC 1.22% New 149,634 $3.4M
SR One Capital Management, LP 0.45% New 137,753 $3.2M
ExodusPoint Capital Management, LP 0.04% Add +28.9% 137,392 $3.2M
B Group, Inc. 2.30% No change 135,000 $3.1M
DekaBank Deutsche Girozentrale 0.01% No change 57,000 $2.9M
Caitong International Asset Management Co., Ltd 0.69% Add +1116754.6% 122,854 $2.8M
Emerald Mutual Fund Advisers Trust 0.14% Reduce -50.4% 120,505 $2.8M
XTX Topco Ltd 0.07% Add +734.8% 119,996 $2.8M
Comerica Bank 0.01% Add +41.5% 118,422 $2.7M
Jump Financial, LLC 0.04% Add +101.7% 115,928 $2.7M
Pinnacle Associates Ltd. 0.03% Reduce -2.9% 111,560 $2.6M
Brevan Howard Capital Management LP 0.05% Add +61.0% 107,903 $2.4M
Rhumbline Advisers 0.00% Reduce -3.7% 101,826 $2.3M
Twinbeech Capital LP 0.16% New 100,152 $2.3M
Crestwood Advisors Group, LLC 0.04% Reduce -0.5% 100,131 $2.3M
Edgestream Partners, L.P. 0.06% New 99,873 $2.3M
Worldquant Millennium Advisors LLC 0.01% New 96,908 $2.2M
State Board of Administration of Florida Retirement System 0.00% Add +4.4% 96,836 $2.2M
Aquatic Capital Management LLC 0.06% Reduce -54.3% 87,464 $2.0M
California State Teachers Retirement System 0.00% Add +3.0% 83,337 $1.9M
Sofinnova Investments, Inc. 0.08% New 83,300 $1.9M
TD Asset Management Inc 0.00% Reduce -15.5% 81,964 $1.9M
Man Group plc 0.00% Add +995.8% 78,371 $1.8M
Engineers Gate Manager LP 0.02% Add +131.6% 76,702 $1.8M
Affinity Asset Advisors, LLC 0.13% New 75,000 $1.7M
F/m Investments LLC 0.06% Add +19.0% 73,484 $1.7M
Motley Fool Asset Management LLC 0.06% Reduce -12.3% 72,448 $1.7M
Marshall Wace, LLP 0.00% Reduce -50.6% 72,168 $1.7M
Citigroup Inc. 0.00% Add +165.4% 69,511 $1.6M
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.00% Reduce -76.0% 67,339 $1.5M
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% Add +5.7% 66,175 $1.5M
Quadrature Capital Ltd 0.02% New 66,001 $1.5M
Wells Fargo & Company 0.00% Add +154.8% 63,563 $1.5M
Hennion & Walsh Asset Management, Inc. 0.05% Reduce -15.8% 62,173 $1.4M
Parkman Healthcare Partners LLC 0.14% Reduce -9.6% 62,030 $1.4M
Birchview Capital, LP 0.83% Add +181.8% 62,000 $1.4M
Fideuram - Intesa Sanpaolo Private Banking S.P.A. 0.05% — 61,329 $1.4M
Entropy Technologies, LP 0.08% Add +202.2% 60,641 $1.4M
State of Wisconsin Investment Board 0.00% Reduce -27.5% 58,657 $1.3M
Nordea Investment Management AB 0.00% Reduce -10.5% 58,838 $1.3M
Profund Advisors LLC 0.04% Add +75.5% 56,624 $1.3M
Flax Pond Capital, LLC 0.96% — 56,238 $1.3M
Ishara Investments LP 1.34% — 50,000 $1.1M
Quantinno Capital Management LP 0.00% Add +29.2% 49,750 $1.1M
Guggenheim Capital LLC 0.01% Add +4.4% 49,137 $1.1M
Scientech Research LLC 0.69% Add +53.4% 48,032 $1.1M
Wedge Capital Management L L P 0.02% Reduce -2.0% 42,302 $973K
Police & Firemen's Retirement System of New Jersey 0.01% Add +0.1% 39,398 $906K
Treasurer of the State of North Carolina 0.00% Reduce -4.4% 38,620 $888K
Alberta Investment Management Corp 0.01% New 38,400 $883K
Janus Henderson Group PLC 0.00% No change 36,543 $840K
Walleye Capital LLC 0.01% Reduce -46.3% 36,484 $839K
Pathstone Holdings, LLC 0.00% Add +1.2% 34,339 $790K
New York State Common Retirement Fund 0.00% Reduce -3.7% 34,024 $783K
Handelsbanken Fonder AB 0.00% Add +23.6% 33,523 $771K
SG Americas Securities, LLC 0.00% Reduce -74.3% 32,204 $741K
Superstring Capital Management LP 0.39% New 31,738 $730K
Toronto Dominion Bank 0.00% New 31,700 $729K
State of New Jersey Common Pension Fund D 0.00% Reduce -58.9% 29,604 $681K
HSBC Holdings PLC 0.00% Reduce -61.4% 29,679 $663K
Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% Add +7.1% 28,240 $650K
Headlands Technologies LLC 0.05% Add +10.9% 28,207 $649K
Public Employees Retirement System of Ohio 0.00% Reduce -1.1% 27,747 $638K
Alliancebernstein L.P. 0.00% Add +2.2% 27,285 $628K
S&co Inc. 0.04% No change 25,255 $580K
Arizona State Retirement System 0.00% Reduce -4.8% 23,969 $551K
IMC-Chicago, LLC 0.01% New 23,397 $538K
Group One Trading LLC 0.02% New 23,208 $534K
Odyssean, LLC 0.37% — 22,230 $511K
LMR Partners LLP 0.01% New 21,674 $499K
Natixis Advisors, LLC 0.00% Add +7.7% 21,077 $485K
Oxford Asset Management LLP 0.17% New 20,475 $471K
VIRGINIA RETIREMENT SYSTEMS ET Al 0.00% Add +46.1% 20,119 $463K
Envestnet Asset Management Inc. 0.00% Reduce -19.7% 20,112 $463K
Knott David M Jr 0.21% Reduce -61.5% 20,006 $460K
Voya Investment Management LLC 0.00% Reduce -3.3% 19,934 $458K
Victory Capital Management Inc. 0.00% Reduce -93.3% 19,907 $458K
Raymond James Financial Inc. 0.00% Reduce -19.2% 19,851 $457K
Inceptionr LLC 0.13% New 19,714 $453K
Stifel Financial Corp. 0.00% Reduce -25.4% 18,997 $437K
Virtus Investment Advisers, LLC 0.12% Add +66.8% 18,862 $434K
KLP Kapitalforvaltning As 0.00% Add +4.5% 18,500 $426K
First Trust Advisors LP 0.00% Reduce -54.2% 16,642 $383K
Fiduciary Trust Co 0.00% Add +24.0% 16,268 $374K
DAFNA Capital Management LLC 0.09% New 16,000 $368K
China Universal Asset Management Co., Ltd. 0.03% Reduce -6.9% 15,721 $362K
Cerity Partners LLC 0.00% New 15,678 $361K
Xponance LLC 0.00% Add +6.6% 14,390 $331K
Summit Trail Advisors, LLC 0.01% Add +62.2% 14,339 $330K
Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% Reduce -84.6% 14,094 $323K
Mercer Global Advisors Inc. 0.00% Add +17.1% 13,965 $321K
Voleon Capital Management LP 0.01% New 13,956 $321K
Tudor Investment Corporation 0.00% Reduce -77.4% 13,416 $309K
Oak Ridge Investments LLC 0.02% Reduce -19.4% 13,394 $308K
Walleye Trading LLC 0.00% Add +59.5% 13,167 $303K
Cwm, LLC 0.00% Add +220.4% 13,125 $302K
Erste Asset Management GmbH 0.00% No change 15,010 $296K
B. Metzler seel. Sohn & Co. AG 0.00% Reduce -57.2% 12,862 $296K
Ikarian Capital, LLC 0.04% New 12,671 $291K
SBI Okasan Asset Management Co.Ltd. 0.02% — 14,400 $284K
Blueshift Asset Management, LLC 0.08% New 12,343 $284K
Wealth Enhancement Advisory Services, LLC 0.00% Add +19.3% 11,706 $264K
Captrust Financial Advisors 0.00% Add +26.1% 11,378 $262K
Creative Planning 0.00% New 11,266 $259K
Persistent Asset Partners Ltd 0.12% Add +429.7% 11,029 $254K
CANADA LIFE ASSURANCE Co 0.00% Reduce -60.6% 10,623 $245K
Mariner, LLC 0.00% New 10,245 $236K
Pale Fire Capital SE 0.03% New 10,211 $235K
Marex Group Ltd 0.00% New 9,658 $222K
Commerce Bank 0.00% Reduce -1.0% 9,105 $209K
Dark Forest Capital Management LP 0.01% New 9,071 $209K
Public Employees Retirement Association of Colorado 0.00% No change 8,946 $206K
Mitsubishi UFJ Asset Management Co., Ltd. 0.00% Add +14.7% 7,791 $184K
Rockefeller Capital Management L.P. 0.00% Add +611.8% 7,716 $177K
Amalgamated Bank 0.00% Add +4.5% 7,551 $174K
Daiwa Securities Group Inc. 0.00% Add +5.4% 7,279 $168K
PNC Financial Services Group, Inc. 0.00% Reduce -8.9% 6,647 $153K
MetLife Investment Management, LLC 0.00% Add +3.5% 5,954 $137K
AlphaQuest LLC 0.01% Add +903.3% 5,859 $135K
Van Eck Associates Corp. 0.00% Add +95.0% 5,167 $119K
Quarry LP 0.02% Add +4445.4% 5,000 $115K
Mirae Asset Global Investments Co., Ltd. 0.00% Add +25.8% 4,688 $108K
Osaic Holdings, Inc. 0.00% Reduce -48.0% 3,116 $72K
KBC Group NV 0.00% No change 2,941 $68K
Bellevue Group AG 0.00% New 2,580 $59K
Smartleaf Asset Management LLC 0.00% Add +43.2% 2,489 $57K
Aster Capital Management (DIFC) Ltd 0.02% New 2,443 $56K
STRS Ohio 0.00% Add +2.8% 2,208 $51K
Steward Partners Investment Advisory, LLC 0.00% No change 2,010 $46K
GF Fund Management Co. LTD. 0.00% Reduce -8.6% 1,895 $44K
Essential Partners LLC 0.01% Add +1805.6% 1,696 $39K
Covestor Ltd 0.02% Reduce -18.5% 1,456 $34K
Danske Bank A/S 0.00% No change 1,300 $30K
US Bancorp \de 0.00% Reduce -16.6% 1,080 $25K
Assetmark, Inc. 0.00% Reduce -0.7% 1,076 $25K
Huntington National Bank 0.00% Reduce -2.5% 1,065 $24K
EFG International AG 0.00% — 848 $20K
Versant Capital Management, Inc 0.00% Add +56.4% 674 $16K
Sterling Capital Management LLC 0.00% Add +385.3% 660 $15K
GAMMA Investing LLC 0.00% Add +198.5% 585 $13K
Signaturefd, LLC 0.00% Reduce -1.1% 540 $12K
UMB Bank, n.a. 0.00% Reduce -2.3% 511 $12K
Allworth Financial LP 0.00% Add +72.8% 482 $11K
Leonteq Securities AG 0.00% Reduce -5.1% 462 $11K
IFP Advisors, Inc 0.00% Add +4260.0% 436 $10K
Arax Advisory Partners 0.00% Reduce -75.7% 426 $10K
Quadrant Capital Group LLC 0.00% Add +194.1% 400 $9K
Jones Financial Companies LLLP 0.00% Add +19.4% 344 $8K
EverSource Wealth Advisors, LLC 0.00% Add +1241.7% 322 $7K
AdvisorNet Financial, Inc 0.00% Add +262.5% 319 $7K
SageView Advisory Group, LLC 0.00% New 210 $5K
New Millennium Group LLC 0.00% No change 200 $5K
Parallel Advisors, LLC 0.00% Add +20.1% 185 $4K
SBI Securities Co., Ltd. 0.00% Add +411.8% 174 $4K
First Horizon Corp. 0.00% Add +3.0% 169 $4K
Elevation Wealth Partners, LLC 0.00% New 163 $4K
Quent Capital, LLC 0.00% Reduce -27.8% 156 $4K
Pinnacle Wealth Planning Services, Inc. 0.00% New 144 $3K
Larson Financial Group LLC 0.00% Reduce -68.3% 140 $3K
Hurley Capital, LLC 0.00% New 137 $3K
Farther Finance Advisors, LLC 0.00% Add +495.6% 137 $3K
Parkside Financial Bank & Trust 0.00% No change 132 $3K
Boreal Capital Management LLC 0.00% No change 100 $2K
Murphy & Mullick Capital Management Corp 0.00% No change 100 $2K
Osbon Capital Management LLC 0.00% — 86 $2K
Clearstead Trust, LLC 0.00% Add +39.0% 82 $2K
Nisa Investment Advisors, LLC 0.00% No change 80 $2K
Hilton Head Capital Partners, LLC 0.00% — 70 $2K
J.Safra Asset Management Corp 0.00% No change 68 $2K
Golden State Wealth Management, LLC 0.00% No change 66 $2K
Rothschild Investment LLC 0.00% New 65 $1K
MassMutual Private Wealth & Trust, FSB 0.00% No change 58 $1K
Global Retirement Partners, LLC 0.00% Add +372.7% 52 $1K
SJS Investment Consulting Inc. 0.00% New 47 $1K
Bare Financial Services, Inc 0.00% Add +114.3% 45 $1K
Hantz Financial Services, Inc. 0.00% No change 64 $1K
Activest Wealth Management 0.00% Add +3700.0% 38 $874
Northwestern Mutual Wealth Management Co. 0.00% No change 30 $690
TD Private Client Wealth LLC 0.00% No change 30 $690
MV Capital Management, Inc. 0.00% Reduce -58.8% 28 $644
Truvestments Capital LLC 0.00% Reduce -78.9% 23 $529
Clearstead Advisors, LLC 0.00% Reduce -37.1% 22 $506
Raffa Wealth Management, LLC 0.00% No change 21 $483
Horizon Investments, LLC 0.00% New 20 $460
Bell Investment Advisors, Inc 0.00% Reduce -39.3% 17 $391
Basecamp Wealth Advisors LLC 0.00% — 17 $391
Cromwell Holdings LLC 0.00% No change 14 $322
Wealth Watch Advisors, INC 0.00% No change 13 $299
WPG Advisers, LLC 0.00% No change 11 $253
Transamerica Financial Advisors, LLC 0.00% No change 9 $207
Godfrey Financial Associates, Inc. 0.00% — 8 $184
Torren Management, LLC 0.00% — 7 $161
Tower Research Capital LLC (TRC) 0.00% Reduce -99.6% 7 $161
Caitlin John, LLC 0.00% No change 5 $115
SouthState Bank Corp 0.00% No change 5 $115
TFC Financial Management, Inc. 0.00% New 2 $46
Dunhill Financial, LLC 0.00% New 2 $38

"% of holder's portfolio" is RARE's weight in each manager's 13F, not the share of Ultragenyx Pharmaceutical Inc. the manager owns.