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Tetragon Partners GP Ltd

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13F filer, CIK 1515070, GRAND CAYMAN, Cayman Islands

Tetragon Partners GP Ltd reported $620,752,695 across 37 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 84.43% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000902664-25-003596

Period
2025-06-30
Reported value
$621M
Holdings
37
Top 10 weight
84.43%
New
10
Sold out
4

Part of the filer group Tetragon Partners GP Ltd

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PATHadded+4,772,244$61.1M
WKnew+150,000$10.3M
SRRKnew+103,482$3.67M
TARSadded+71,530$2.9M
AUTLadded+900,000$2.05M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
INFORMATICA INCexited-800,000-$14M
BVNexited-55,500-$867K
OTLYexited-81,210-$798K
KROSreduced-55,000-$734K
CCJreduced-2,020-$150K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0000902664-25-003596, largest first. % of portfolio is the value over $554,458,395, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PATHUIPATH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,950,000 shares; 2024Q4: 6,950,000 shares; 2025Q1: 8,950,000 shares; 2025Q2: 13,722,244 shares 13,722,244$176M31.68%+4,772,244Timeline
KGEIKOLIBRI GLOBAL ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,070,568 shares; 2024Q4: 7,070,568 shares; 2025Q1: 7,070,568 shares; 2025Q2: 7,068,857 shares 7,068,857$48.7M8.78%-1,711Timeline
AUTLAUTOLUS THERAPEUTICS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,000,000 shares; 2024Q4: 8,250,000 shares; 2025Q1: 8,600,000 shares; 2025Q2: 9,500,000 shares 9,500,000$21.7M3.91%+900,000Timeline
CXMSPRINKLR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,200,000 shares; 2024Q4: 2,200,000 shares; 2025Q1: 2,200,000 shares; 2025Q2: 2,200,000 shares 2,200,000$18.6M3.36%0Timeline
LYFTLYFT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,000,000 shares; 2024Q4: 1,000,000 shares; 2025Q1: 1,000,000 shares; 2025Q2: 1,000,000 shares 1,000,000$15.8M2.84%0Timeline
WKWORKIVA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 150,000 shares 150,000$10.3M1.85%newTimeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 614,117 shares; 2024Q4: 200,000 shares; 2025Q1: 178,470 shares; 2025Q2: 250,000 shares 250,000$10.1M1.83%+71,530Timeline
ANNXANNEXON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 784,355 shares; 2024Q4: 1,400,000 shares; 2025Q1: 2,650,000 shares; 2025Q2: 2,810,000 shares 2,810,000$6.74M1.22%+160,000Timeline
CLDXCELLDEX THERAPEUTICS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 192,000 shares; 2025Q1: 261,000 shares; 2025Q2: 316,150 shares 316,150$6.43M1.16%+55,150Timeline
HYGISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 111,525 shares; 2024Q4: 90,327 shares; 2025Q1: 63,142 shares; 2025Q2: 68,660 shares 68,660$5.54M1%+5,518Timeline
TECXTECTONIC THERAPEUTIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 187,500 shares; 2025Q2: 228,832 shares 228,832$4.55M0.82%+41,332Timeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 41,250 shares; 2025Q1: 33,806 shares; 2025Q2: 41,531 shares 41,531$4.34M0.78%+7,725Timeline
SRRKSCHOLAR ROCK HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 103,482 shares 103,482$3.67M0.66%newTimeline
ACADACADIA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 107,000 shares; 2025Q2: 161,396 shares 161,396$3.48M0.63%+54,396Timeline
PHVSPHARVARIS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 126,995 shares; 2025Q2: 188,100 shares 188,100$3.31M0.6%+61,105Timeline
RLAYRELAY THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 619,000 shares; 2025Q2: 699,000 shares 699,000$2.42M0.44%+80,000Timeline
IMVTIMMUNOVANT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 131,167 shares; 2025Q2: 147,817 shares 147,817$2.37M0.43%+16,650Timeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,000 shares; 2024Q4: 10,000 shares; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares 10,000$2.24M0.4%0Timeline
KROSKEROS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 103,000 shares; 2025Q1: 183,000 shares; 2025Q2: 128,000 shares 128,000$1.71M0.31%-55,000Timeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 21,300 shares; 2025Q2: 19,280 shares 19,280$1.43M0.26%-2,020Timeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 218,750 shares 218,750$1.4M0.25%newTimeline
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 138,375 shares 138,375$1.32M0.24%newTimeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 81,000 shares; 2024Q4: 58,000 shares; 2025Q1: 107,000 shares; 2025Q2: 107,000 shares 107,000$1.14M0.2%0Timeline
ALKSALKERMES PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 15,632 shares 15,632$447K0.08%newTimeline
SQMSOCIEDAD QUIMICA Y MINERA DEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 7,700 shares 7,700$272K0.05%newTimeline
TECKTECK RESOURCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,487 shares; 2024Q4: 6,368 shares; 2025Q1: 6,368 shares; 2025Q2: 6,368 shares 6,368$257K0.05%0Timeline
VYNEVYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 115,384 shares 115,384$190K0.03%newTimeline
DIANA SHIPPING INCDIANA SHIPPING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,300 shares; 2024Q4: 301,800 shares; 2025Q1: 301,800 shares; 2025Q2: 301,200 shares 301,200$24.1K<0.01%-600
SONWQSONDER HLDGS INC WT EXP 01/31/Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,898 shares; 2024Q4: 18,898 shares; 2025Q1: 18,898 shares; 2025Q2: 18,898 shares 18,898$178<0.01%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
HYGISHARES TR IBOXX HI YD ETFput822,000$66.3M-779,900

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
ALIBABA GROUP HLDG LTDALIBABA GROUP HLDG LTD NOTE 0.500% 6/0principal100,000,000$128Mnew
JD.COM INCJD.COM INC NOTE 0.250% 6/0principal20,000,000$20.9Mnew
LITHIUM ARGENTINA AGLITHIUM ARGENTINA AG NOTE 1.750% 1/1principal16,609,000$14.1M-6,700,000
OATLY GROUP ABOATLY GROUP AB NOTE 9.250% 9/1principal20,020,027$14M+884,993
TRIP COM GROUP LTDTRIP COM GROUP LTD NOTE 0.750% 6/1principal10,000,000$11.1Mnew
FIRST MAJESTIC SILVER CORPFIRST MAJESTIC SILVER CORP NOTE 0.375% 1/1principal7,500,000$7.29M-9,000,000
CYTOKINETICS INCCYTOKINETICS INC NOTE 3.500% 7/0principal5,000,000$5.39M0

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
INFORMATICA INCINFORMATICA INC800,000$14Mshares
SSR Mining IncSSR Mining Inc4,000,000$4.08Mprincipal
BVNCOMPANIA DE MINAS BUENAVENTU55,500$867Kshares
OTLYOATLY GROUP AB81,210$798Kshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000902664-25-003596 base2025-08-14acceptance time not in the bulk data set