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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 $747,642,120 across 44 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 84.17% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000902664-25-005067

Period
2025-09-30
Reported value
$748M
Holdings
44
Top 10 weight
84.17%
New
12
Sold out
5

Part of the filer group Tetragon Partners GP Ltd

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PATHadded+3,227,756$43.2M
MBXnew+177,840$3.11M
ARWRnew+81,841$2.82M
ABVXnew+30,000$2.55M
ALKSadded+73,980$2.22M

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
TARSreduced-125,000-$7.43M
RLAYreduced-475,877-$2.48M
ANNXreduced-697,545-$2.13M
ACADreduced-75,325-$1.61M
KROSreduced-85,000-$1.34M

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, Q3 2025

Share positions as resolved from 13F-HR 0000902664-25-005067, largest first. % of portfolio is the value over $688,625,109, 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; 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; 2025Q3: 16,950,000 shares 16,950,000$227M32.93%+3,227,756Timeline
KGEIKOLIBRI GLOBAL ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 7,070,568 shares 7,070,568$39.2M5.69%+1,711Timeline
LYFTLYFT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,000,000 shares 1,000,000$22M3.2%0Timeline
CXMSPRINKLR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,200,000 shares 2,200,000$17M2.47%0Timeline
AUTLAUTOLUS THERAPEUTICS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 9,500,000 shares 9,500,000$15.5M2.25%0Timeline
WKWORKIVA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 150,000 shares; 2025Q3: 150,000 shares 150,000$12.9M1.88%0Timeline
CLDXCELLDEX THERAPEUTICS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 192,000 shares; 2025Q1: 261,000 shares; 2025Q2: 316,150 shares; 2025Q3: 303,600 shares 303,600$7.85M1.14%-12,550Timeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 614,117 shares; 2024Q4: 200,000 shares; 2025Q1: 178,470 shares; 2025Q2: 250,000 shares; 2025Q3: 125,000 shares 125,000$7.43M1.08%-125,000Timeline
ANNXANNEXON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,112,455 shares 2,112,455$6.44M0.94%-697,545Timeline
HYGISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 111,525 shares; 2024Q4: 90,327 shares; 2025Q1: 63,142 shares; 2025Q2: 68,660 shares; 2025Q3: 72,961 shares 72,961$5.92M0.86%+4,301Timeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 41,250 shares; 2025Q1: 33,806 shares; 2025Q2: 41,531 shares; 2025Q3: 46,456 shares 46,456$5.64M0.82%+4,925Timeline
PHVSPHARVARIS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 126,995 shares; 2025Q2: 188,100 shares; 2025Q3: 194,612 shares 194,612$4.86M0.71%+6,512Timeline
SRRKSCHOLAR ROCK HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 103,482 shares; 2025Q3: 117,882 shares 117,882$4.39M0.64%+14,400Timeline
TECXTECTONIC THERAPEUTIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 187,500 shares; 2025Q2: 228,832 shares; 2025Q3: 243,728 shares 243,728$3.82M0.56%+14,896Timeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 218,750 shares; 2025Q3: 258,242 shares 258,242$3.51M0.51%+39,492Timeline
MBXMBX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 177,840 shares 177,840$3.11M0.45%newTimeline
IMVTIMMUNOVANT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 131,167 shares; 2025Q2: 147,817 shares; 2025Q3: 188,379 shares 188,379$3.04M0.44%+40,562Timeline
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 138,375 shares; 2025Q3: 223,181 shares 223,181$2.82M0.41%+84,806Timeline
ARWRARROWHEAD PHARMACEUTICALS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 81,841 shares 81,841$2.82M0.41%newTimeline
ALKSALKERMES PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 15,632 shares; 2025Q3: 89,612 shares 89,612$2.69M0.39%+73,980Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 30,000 shares 30,000$2.55M0.37%newTimeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,000 shares; 2024Q4: 10,000 shares; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares; 2025Q3: 10,000 shares 10,000$2.26M0.33%0Timeline
ACADACADIA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 107,000 shares; 2025Q2: 161,396 shares; 2025Q3: 86,071 shares 86,071$1.84M0.27%-75,325Timeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 81,000 shares; 2024Q4: 58,000 shares; 2025Q1: 107,000 shares; 2025Q2: 107,000 shares; 2025Q3: 117,500 shares 117,500$1.78M0.26%+10,500Timeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 21,300 shares; 2025Q2: 19,280 shares; 2025Q3: 16,015 shares 16,015$1.34M0.2%-3,265Timeline
RLAYRELAY THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 619,000 shares; 2025Q2: 699,000 shares; 2025Q3: 223,123 shares 223,123$1.16M0.17%-475,877Timeline
FOLDAMICUS THERAPEUTICQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 121,212 shares 121,212$955K0.14%newTimeline
KRYSKRYSTAL BIOTECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,870 shares 4,870$860K0.12%newTimeline
TECKTECK RESOURCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 25,487 shares; 2024Q4: 6,368 shares; 2025Q1: 6,368 shares; 2025Q2: 6,368 shares; 2025Q3: 18,068 shares 18,068$793K0.12%+11,700Timeline
KROSKEROS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 103,000 shares; 2025Q1: 183,000 shares; 2025Q2: 128,000 shares; 2025Q3: 43,000 shares 43,000$680K0.1%-85,000Timeline
LARLITHIUM ARGENTINA AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 200,000 shares 200,000$668K0.1%newTimeline
RAREULTRAGENYX PHARMACEUTICAL INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 17,718 shares 17,718$533K0.08%newTimeline
WBIWATERBRIDGE INFRASTRUCTURE LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 20,000 shares 20,000$504K0.07%newTimeline
NXENEXGEN ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 42,000 shares 42,000$376K0.05%newTimeline
DIANA SHIPPING INCDIANA SHIPPING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 300,300 shares; 2024Q4: 301,800 shares; 2025Q1: 301,800 shares; 2025Q2: 301,200 shares; 2025Q3: 233,400 shares 233,400$22.8K<0.01%-67,800
SONWQSONDER HLDGS INC WT EXP 01/31/Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,898 shares; 2024Q4: 18,898 shares; 2025Q1: 18,898 shares; 2025Q2: 18,898 shares; 2025Q3: 18,898 shares 18,898$204<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 ETFput726,900$59M-95,100

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% 6/0principal95,000,000$175M-5,000,000
LITHIUM ARGENTINA AGLITHIUM ARGENTINA AG NOTE 1.750% 1/1principal27,109,000$24.6M+10,500,000
CABLE ONE INCCABLE ONE INC NOTE 3/1principal21,255,000$20.8Mnew
PROGRESS SOFTWARE CORPPROGRESS SOFTWARE CORP NOTE 1.000% 4/1principal20,500,000$20.6Mnew
OATLY GROUP ABOATLY GROUP AB NOTE 9.250% 9/1principal20,020,027$18.4M0
FIRST MAJESTIC SILVER CORPFIRST MAJESTIC SILVER CORP NOTE 0.375% 1/1principal7,500,000$7.97M0
CELCUITY INCCELCUITY INC NOTE 2.750% 8/0principal5,550,000$7.44Mnew

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
JD.COM INCJD.COM INC20,000,000$20.9Mprincipal
TRIP COM GROUP LTDTRIP COM GROUP LTD10,000,000$11.1Mprincipal
CYTOKINETICS INCCYTOKINETICS INC5,000,000$5.39Mprincipal
SQMSOCIEDAD QUIMICA Y MINERA DE7,700$272Kshares
VYNEVYNE THERAPEUTICS INC115,384$190Kshares

How Q3 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 0000902664-25-005067 base2025-11-14acceptance time not in the bulk data set