Madrigal Pharmaceuticals, Inc.
US ˙ NasdaqGS ˙ US5588681057

SecurityMDGL / Madrigal Pharmaceuticals, Inc.
InstitutionTIFF INVESTMENT PROGRAM - TIFF Multi-Asset Fund
Latest Disclosed Ownership-2,818 shares
Latest Disclosed Value $ -852,839
TIFF INVESTMENT PROGRAM - TIFF Multi-Asset Fund reports 37.04% decrease in ownership of MDGL / Madrigal Pharmaceuticals, Inc.

On August 27, 2025 - TIFF INVESTMENT PROGRAM - TIFF Multi-Asset Fund filed a NPORT-P form disclosing ownership of -2,818 shares of Madrigal Pharmaceuticals, Inc. (US:MDGL) valued at $-852,840 USD as of June 30, 2025. The entity filed a previous NPORT-P on May 29, 2025 disclosing -4,476 shares of Madrigal Pharmaceuticals, Inc.. This represents a change in shares of -37.04% during the quarter. The current value of the position is $-1,372,310 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)
2025-08-27 2025-06-30 NP Madrigal Pharmaceuticals EC US5588681057 -2,818 1,658 -37.04 -853 -42.51 -0.0606
2025-05-29 2025-03-31 NP Madrigal Pharmaceuticals EC US5588681057 -4,476 1,166 -20.67 -1,483 -14.83 -0.1158
2025-02-28 2024-12-31 NP Madrigal Pharmaceuticals EC US5588681057 -5,642 -2,532 81.41 -1,741 163.64 -0.1328
2024-11-29 2024-09-30 NP Madrigal Pharmaceuticals EC US5588681057 -3,110 -742 31.33 -660 -0.45 -0.0502
2024-08-27 2024-06-30 NP Madrigal Pharmaceuticals EC US5588681057 -2,368 -2,368 -663 -0.0522
2024-02-27 2023-12-31 NP Madrigal Pharmaceuticals EC US5588681057 0 -3,100 -100.00 0 -100.00
2023-11-27 2023-09-30 NP Madrigal Pharmaceuticals EC US5588681057 3,100 3,100 453 0.0363
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.