Tetragon Partners GP Ltd
Long book
$508.9M
Q1 2026
Positions
34
Top-10 weight
83%
concentration
Last quarter
+9.7%
SPY +14.8%
Turnover
37%
of book per quarter
Strategy in plain words
auto-generated from filingsTetragon Partners GP Ltd is a concentrated fundamental stock-picker, specialised in technology (61% of the long book), running a $508.9M US long book across 34 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: UIPATH INC - CLASS A, KOLIBRI GLOBAL ENERGY INC, WARNER BROS DISCOVERY INC, WORKIVA INC, LYFT INC-A.
Over the last 9 quarters its long book ran on average 5.2pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-29.9%
Q2 2024
-0.9%
Q3 2024
+9.2%
Q4 2024
-4.6%
Q1 2025
+10.7%
Q2 2025
+3.9%
Q3 2025
+15.8%
Q4 2025
-20.7%
Q1 2026
+9.7%
Sector allocation
Technology 63%
Healthcare 18%
Energy 8%
Communications 5%
Materials 3%
Services media 3%
Other 1%
Long book by quarter
What does Tetragon Partners own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| PATH UIPATH INC - CLASS A | Technology | 25.2M | $279.8M | 55.0% | +44.5% |
| KGEI KOLIBRI GLOBAL ENERGY INC | Energy | 6.8M | $37.5M | 7.4% | -1.4% |
| WBD WARNER BROS DISCOVERY INC | Communications | 923.7K | $25.4M | 5.0% | New |
| WK WORKIVA INC | Technology | 250.0K | $14.9M | 2.9% | +66.7% |
| LYFT LYFT INC-A | Services media | 1.0M | $13.3M | 2.6% | Held |
| CXM SPRINKLR INC-A | Technology | 2.2M | $13.2M | 2.6% | Held |
| CLDX CELLDEX THERAPEUTICS INC | Materials | 312.3K | $9.9M | 1.9% | +28.1% |
| ARWR ARROWHEAD PHARMACEUTICALS IN | Healthcare | 127.2K | $8.0M | 1.6% | +31.2% |
| NKTR NEKTAR THERAPEUTICS | Healthcare | 103.0K | $7.4M | 1.5% | +48.7% |
| ANNX ANNEXON INC | Healthcare | 1.3M | $7.2M | 1.4% | -36.4% |
| PHVS PHARVARIS NV | Healthcare | 221.6K | $6.3M | 1.2% | +13.9% |
| ALKS ALKERMES PLC | Healthcare | 159.8K | $5.7M | 1.1% | +13.2% |
| AGIO AGIOS PHARMACEUTICALS INC | Healthcare | 164.8K | $5.6M | 1.1% | +1.7% |
| IMVT IMMUNOVANT INC | Healthcare | 218.5K | $5.4M | 1.1% | +31.5% |
| PRAX PRAXIS PRECISION MEDICINES I | Healthcare | 16.0K | $5.1M | 1.0% | -30.5% |
| KRYS KRYSTAL BIOTECH INC | Healthcare | 19.7K | $5.1M | 1.0% | +66.5% |
| DYN DYNE THERAPEUTICS INC | Healthcare | 258.1K | $4.7M | 0.9% | +4.1% |
| AMLX AMYLYX PHARMACEUTICALS INC | Healthcare | 317.9K | $4.4M | 0.9% | +16.5% |
| MBX MBX BIOSCIENCES INC | Healthcare | 145.5K | $4.3M | 0.9% | +1.5% |
| DFTX DEFINIUM THERAPEUTICS INC | Materials | 200.0K | $3.8M | 0.7% | New |
| SLNOEUR SOLENO THERAPEUTICS INC | — | 102.1K | $3.4M | 0.7% | New |
| AXSM AXSOME THERAPEUTICS INC | Healthcare | 20.1K | $3.4M | 0.7% | -25.5% |
| HRMY HARMONY BIOSCIENCES HOLDINGS | Healthcare | 119.3K | $3.3M | 0.7% | +44.1% |
| ACAD ACADIA PHARMACEUTICALS INC | Healthcare | 144.6K | $3.2M | 0.6% | New |
| IONS IONIS PHARMACEUTICALS INC | Healthcare | 41.8K | $3.1M | 0.6% | New |
| MPLT MAPLIGHT THERAPEUTICS INC | Healthcare | 112.1K | $2.3M | 0.4% | -31.9% |
| RLAY RELAY THERAPEUTICS INC | Healthcare | 181.5K | $1.8M | 0.4% | New |
| SNOW SNOWFLAKE INC | Technology | 10.0K | $1.5M | 0.3% | Held |
| AARD AARDVARK THERAPEUTICS INC | Healthcare | 316.6K | $1.2M | 0.2% | New |
| TECX TECTONIC THERAPEUTIC INC | Healthcare | 37.6K | $1.2M | 0.2% | New |
| RARE ULTRAGENYX PHARMACEUTICAL IN | Healthcare | 39.5K | $827K | 0.2% | New |
| KPTI KARYOPHARM THERAPEUTICS INC | Healthcare | 53.0K | $295K | 0.1% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 40 | $515.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 31 | $474.3M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 47 | $747.6M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 40 | $620.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 32 | $438.2M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR/ARESTATEMENT | Feb 21, 2025 | 28 | $391.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 28 | $405.6M | SEC ↗ | |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 26 | $354.5M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 30 | $400.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 32 | $441.5M | canonical | SEC ↗ |