Tetragon Partners GP Ltd — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, Tetragon Partners GP Ltd initiated 10 new positions, increased allocation to 10 existing positions, trimmed 5 positions, and exited 4 positions entirely. The fund's 13F equity book grew from $0.47B to $0.51B (+7.3% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $0.47BPrior quarter
- $0.51BCurrent quarter
- + $0.03BNet delta
- +7.3%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| WARNER BROS DISCOVERY INC | WBD | 4.98% | History → |
| DEFINIUM THERAPEUTICS INC | DFTX | 0.74% | Holders → |
| SOLENO THERAPEUTICS INC | SLNO | 0.67% | Holders → |
| ACADIA PHARMACEUTICALS INC. | ACAD | 0.63% | Holders → |
| IONIS PHARMACEUTICALS INC. | IONS | 0.62% | Holders → |
| RELAY THERAPEUTICS, INC. | RLAY | 0.35% | Holders → |
| AARDVARK THERAPEUTICS INC | AARD | 0.23% | Holders → |
| TECTONIC THERAPEUTIC INC | TECX | 0.23% | Holders → |
| ULTRAGENYX PHARMACEUTICAL IN | RARE | 0.16% | Holders → |
| KARYOPHARM THERAPEUTICS INC | KPTI | 0.06% | Holders → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| SILENCE THERAPEUTICS PLC | SLN | +0.18% | +72.47% | Holders → |
| WORKIVA INC | WK | +0.20% | +66.67% | History → |
| KRYSTAL BIOTECH | KRYS | +0.38% | +66.48% | Holders → |
| NEKTAR THERAPEUTICS | NKTR | +0.84% | +48.71% | History → |
| UIPATH INC | PATH | +-5.32% | +44.46% | History → |
| HARMONY BIOSCIENCES HLDGS IN | HRMY | +0.00% | +44.09% | Holders → |
| IMMUNOVANT, INC. | IMVT | +0.18% | +31.48% | Holders → |
| ARROWHEAD PHARMACEUTICALS INC | ARWR | +0.21% | +31.22% | History → |
| CELLDEX THERAPEUTICS INC | CLDX | +0.55% | +28.10% | History → |
| AMYLYX PHARMACEUTICALS INC | AMLX | +0.17% | +16.51% | Holders → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| ANNEXON INC | ANNX | -0.74% | -36.41% | Holders → |
| MAPLIGHT THERAPEUTICS INC | MPLT | -0.16% | -31.86% | Holders → |
| PRAXIS PRECISION MEDICINES I | PRAX | -0.42% | -30.50% | Holders → |
| AXSOME THERAPEUTICS | AXSM | -0.37% | -25.53% | Holders → |
| KOLIBRI GLOBAL ENERGY INC | KGEI | 1.63% | -1.44% | History → |
Exited Positions Q1 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 | SYN_75382E208 | 0.94% |
| AMICUS THERAPEUTIC | FOLD | 0.78% |
| ZEVRA THERAPEUTICS INC | ZVRA | 0.36% |
| AVADEL PHARMACEUTICALS PLC | SYN_G29687103 | 0.20% |
Methodology & FAQ
How Tetragon Partners GP Ltd Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for Tetragon Partners GP Ltd against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
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, 4.98%), DEFINIUM THERAPEUTICS INC (DFTX, 0.74%), SOLENO THERAPEUTICS INC (SLNO, 0.67%), ACADIA PHARMACEUTICALS INC. (ACAD, 0.63%), IONIS PHARMACEUTICALS INC. (IONS, 0.62%), RELAY THERAPEUTICS, INC. (RLAY, 0.35%), AARDVARK THERAPEUTICS INC (AARD, 0.23%), TECTONIC THERAPEUTIC INC (TECX, 0.23%), ULTRAGENYX PHARMACEUTICAL IN (RARE, 0.16%), KARYOPHARM THERAPEUTICS INC (KPTI, 0.06%).
Which existing positions saw the largest allocation increases for Tetragon Partners GP Ltd in Q1 2026?
The largest portfolio-weight increases in existing positions were: SILENCE THERAPEUTICS PLC (SLN, +0.18% weight, +72.47% shares), WORKIVA INC (WK, +0.20% weight, +66.67% shares), KRYSTAL BIOTECH (KRYS, +0.38% weight, +66.48% shares), NEKTAR THERAPEUTICS (NKTR, +0.84% weight, +48.71% shares), UIPATH INC (PATH, +-5.32% weight, +44.46% shares), HARMONY BIOSCIENCES HLDGS IN (HRMY, +0.00% weight, +44.09% shares), IMMUNOVANT, INC. (IMVT, +0.18% weight, +31.48% shares), ARROWHEAD PHARMACEUTICALS INC (ARWR, +0.21% weight, +31.22% shares), CELLDEX THERAPEUTICS INC (CLDX, +0.55% weight, +28.10% shares), AMYLYX PHARMACEUTICALS INC (AMLX, +0.17% weight, +16.51% 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 (SYN_75382E208, last-reported weight 0.94%), AMICUS THERAPEUTIC (FOLD, last-reported weight 0.78%), ZEVRA THERAPEUTICS INC (ZVRA, last-reported weight 0.36%), AVADEL PHARMACEUTICALS PLC (SYN_G29687103, last-reported weight 0.20%).
Which existing positions saw the largest allocation reductions for Tetragon Partners GP Ltd in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: ANNEXON INC (ANNX, -0.74% weight, -36.41% shares), MAPLIGHT THERAPEUTICS INC (MPLT, -0.16% weight, -31.86% shares), PRAXIS PRECISION MEDICINES I (PRAX, -0.42% weight, -30.50% shares), AXSOME THERAPEUTICS (AXSM, -0.37% weight, -25.53% shares), KOLIBRI GLOBAL ENERGY INC (KGEI, 1.63% weight, -1.44% 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.