Tetragon Partners GP Ltd 13F: Quarter-over-Quarter Portfolio Changes
Tetragon Partners GP Ltd reported a disclosed portfolio value of approximately $508.9 million in its latest SEC Form 13F-HR filing for Q1 2026, up 7.3% quarter on quarter. Over the quarter, the fund initiated 10 new positions, bought more shares in 15 holdings, trimmed 5 holdings, and exited 4 positions.
Tetragon Partners GP Ltd's top buy was a new stake in Warner Bros Discovery INC (WBD) , equal to 5.0% of the disclosed portfolio. Its top sell was Rapt Therapeutics INC (RAPT) . The fund exited the position completely after it had accounted for 0.9% of the previous portfolio.
New PositionsQ1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| WARNER BROS DISCOVERY INC | WBD | 5.0% | History → |
| DEFINIUM THERAPEUTICS INC | DFTX | 0.7% | Holders → |
| SOLENO THERAPEUTICS INC | SLNO | 0.7% | Holders → |
| ACADIA PHARMACEUTICALS INC. | ACAD | 0.6% | Holders → |
| IONIS PHARMACEUTICALS INC | IONS | 0.6% | Holders → |
| RELAY THERAPEUTICS INC | RLAY | 0.4% | Holders → |
| AARDVARK THERAPEUTICS INC | AARD | 0.2% | Holders → |
| TECTONIC THERAPEUTIC INC | TECX | 0.2% | Holders → |
| ULTRAGENYX PHARMACEUTICAL IN | RARE | 0.2% | Holders → |
| KARYOPHARM THERAPEUTICS INC | KPTI | 0.1% | Holders → |
Top BuysQ1 2026
Showing the top 10 buys among 15 existing positions where the fund bought more shares in Q1 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| SILENCE THERAPEUTICS PLC | SLN | +0.2% | +72.5% | Holders → |
| WORKIVA INC | WK | +0.2% | +66.7% | History → |
| KRYSTAL BIOTECH | KRYS | +0.4% | +66.5% | Holders → |
| NEKTAR THERAPEUTICS | NKTR | +0.8% | +48.7% | History → |
| UIPATH INC | PATH | +-5.3% | +44.5% | History → |
| HARMONY BIOSCIENCES HLDGS IN | HRMY | +0.0% | +44.1% | Holders → |
| IMMUNOVANT INC | IMVT | +0.2% | +31.5% | Holders → |
| ARROWHEAD PHARMACEUTICALS INC | ARWR | +0.2% | +31.2% | History → |
| CELLDEX THERAPEUTICS INC | CLDX | +0.6% | +28.1% | History → |
| AMYLYX PHARMACEUTICALS INC | AMLX | +0.2% | +16.5% | Holders → |
Top SellsQ1 2026
The fund's top sells among positions it retained in Q1 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| ANNEXON INC | ANNX | -0.7% | 36.4% | Holders → |
| MAPLIGHT THERAPEUTICS INC | MPLT | -0.2% | 31.9% | Holders → |
| PRAXIS PRECISION MEDICINES I | PRAX | -0.4% | 30.5% | Holders → |
| AXSOME THERAPEUTICS | AXSM | -0.4% | 25.5% | Holders → |
| KOLIBRI GLOBAL ENERGY INC | KGEI | 1.6% | 1.4% | History → |
Full ExitsQ1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| RAPT THERAPEUTICS INC | RAPT | 0.9% |
| AMICUS THERAPEUTIC | FOLD | 0.8% |
| ZEVRA THERAPEUTICS INC | ZVRA | 0.4% |
| AVADEL PHARMACEUTICALS PLC | AVDL | 0.2% |
Net Portfolio Value ChangeQ1 2026
- $0.5BPrior quarter
- $0.5BCurrent quarter
- +$0.0BNet delta
- +7.3%% change
Methodology & FAQ
How Tetragon Partners GP Ltd Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Tetragon Partners GP Ltd: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description — including how confidential treatment filings are handled — is documented in the Methodology.
What stocks did Tetragon Partners GP Ltd buy in Q1 2026?
In Q1 2026, Tetragon Partners GP Ltd initiated 10 new positions (WARNER BROS DISCOVERY INC (WBD), DEFINIUM THERAPEUTICS INC (DFTX), SOLENO THERAPEUTICS INC (SLNO), ACADIA PHARMACEUTICALS INC. (ACAD), IONIS PHARMACEUTICALS INC (IONS), RELAY THERAPEUTICS INC (RLAY), AARDVARK THERAPEUTICS INC (AARD), TECTONIC THERAPEUTIC INC (TECX), ULTRAGENYX PHARMACEUTICAL IN (RARE), KARYOPHARM THERAPEUTICS INC (KPTI)); bought more shares of SILENCE THERAPEUTICS PLC (SLN), WORKIVA INC (WK), KRYSTAL BIOTECH (KRYS), NEKTAR THERAPEUTICS (NKTR), UIPATH INC (PATH) — the largest 5 of 15 adds.
What stocks did Tetragon Partners GP Ltd sell in Q1 2026?
In Q1 2026, Tetragon Partners GP Ltd fully sold 4 positions (RAPT THERAPEUTICS INC (RAPT), AMICUS THERAPEUTIC (FOLD), ZEVRA THERAPEUTICS INC (ZVRA), AVADEL PHARMACEUTICALS PLC (AVDL)); reduced holdings in ANNEXON INC (ANNX), MAPLIGHT THERAPEUTICS INC (MPLT), PRAXIS PRECISION MEDICINES I (PRAX), AXSOME THERAPEUTICS (AXSM), KOLIBRI GLOBAL ENERGY INC (KGEI).
Which positions did Tetragon Partners GP Ltd initiate in Q1 2026?
Tetragon Partners GP Ltd established 10 new positions in Q1 2026: WARNER BROS DISCOVERY INC (WBD, 5.0%), DEFINIUM THERAPEUTICS INC (DFTX, 0.7%), SOLENO THERAPEUTICS INC (SLNO, 0.7%), ACADIA PHARMACEUTICALS INC. (ACAD, 0.6%), IONIS PHARMACEUTICALS INC (IONS, 0.6%), RELAY THERAPEUTICS INC (RLAY, 0.4%), AARDVARK THERAPEUTICS INC (AARD, 0.2%), TECTONIC THERAPEUTIC INC (TECX, 0.2%), ULTRAGENYX PHARMACEUTICAL IN (RARE, 0.2%), KARYOPHARM THERAPEUTICS INC (KPTI, 0.1%).
Which existing positions saw the largest allocation increases for Tetragon Partners GP Ltd in Q1 2026?
Of 15 existing positions with share-count increases in Q1 2026, the largest were: SILENCE THERAPEUTICS PLC (SLN, +0.2% weight, +72.5% shares), WORKIVA INC (WK, +0.2% weight, +66.7% shares), KRYSTAL BIOTECH (KRYS, +0.4% weight, +66.5% shares), NEKTAR THERAPEUTICS (NKTR, +0.8% weight, +48.7% shares), UIPATH INC (PATH, +-5.3% weight, +44.5% shares), HARMONY BIOSCIENCES HLDGS IN (HRMY, +0.0% weight, +44.1% shares), IMMUNOVANT INC (IMVT, +0.2% weight, +31.5% shares), ARROWHEAD PHARMACEUTICALS INC (ARWR, +0.2% weight, +31.2% shares), CELLDEX THERAPEUTICS INC (CLDX, +0.6% weight, +28.1% shares), AMYLYX PHARMACEUTICALS INC (AMLX, +0.2% weight, +16.5% shares).
Which positions did Tetragon Partners GP Ltd fully exit in Q1 2026?
Tetragon Partners GP Ltd fully exited 4 positions in Q1 2026: RAPT THERAPEUTICS INC (RAPT, last-reported weight 0.9%), AMICUS THERAPEUTIC (FOLD, last-reported weight 0.8%), ZEVRA THERAPEUTICS INC (ZVRA, last-reported weight 0.4%), AVADEL PHARMACEUTICALS PLC (AVDL, last-reported weight 0.2%).
Which existing positions saw the largest allocation reductions for Tetragon Partners GP Ltd in Q1 2026?
Of 5 existing positions with share-count reductions in Q1 2026, the largest were: ANNEXON INC (ANNX, -0.7% weight, -36.4% shares), MAPLIGHT THERAPEUTICS INC (MPLT, -0.2% weight, -31.9% shares), PRAXIS PRECISION MEDICINES I (PRAX, -0.4% weight, -30.5% shares), AXSOME THERAPEUTICS (AXSM, -0.4% weight, -25.5% shares), KOLIBRI GLOBAL ENERGY INC (KGEI, 1.6% weight, -1.4% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.