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TAM

TFG Asset Management Portfolio holdings

AUM $635M Turnover 36.96%
1-Year Est. Return 28.07%
This Fund
S&P 500
This Quarter Est. Return
+8.32%
1 Year Est. Return
+28.07%
3 Year Est. Return
+72.07%
5 Year Est. Return
+87.41%
10 Year Est. Return
+132.97%
AUM
$748M
AUM Growth
+$127M
Cap. Flow
-$123M
Cap. Flow %
-16.41%
Top 10 Hldgs %
83.35%
Holding
46
New
9
Increased
13
Reduced
9
Closed
2
Avg Time Held Equity + Options
1.2 years
Top 10 Avg Time Held Equity + Options
1.2 years
Top 20 Avg Time Held Equity + Options
1.4 years
Avg Time Held Equity only
1.2 years
Top 10 Avg Time Held Equity only
1.4 years
Top 20 Avg Time Held Equity only
1.4 years

Top Buys

Rank Stock Value
1
PATH icon
UiPath
PATH
+$38.2M
2
MBX icon
MBX Biosciences
MBX
+$2.38M
3
ALKS icon
Alkermes
ALKS
+$2.09M
4
ABVX icon
Abivax
ABVX
+$1.84M
5
ARWR icon
Arrowhead Research
ARWR
+$1.8M

Top Sells

Rank Stock Value
1
TARS icon
Tarsus Pharmaceuticals
TARS
+$6.15M
2
RLAY icon
Relay Therapeutics
RLAY
+$1.81M
3
ACAD icon
Acadia Pharmaceuticals
ACAD
+$1.78M
4
ANNX icon
Annexon
ANNX
+$1.73M
5
KROS icon
Keros Therapeutics
KROS
+$1.26M

Sector Composition

Rank Sector Weight
1 Miscellaneous 45.42%
2 Technology 37.58%
3 Healthcare 11.03%
4 Energy 5.54%
5 Materials 0.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
PATH icon
1
UiPath
PATH
$6.99B
$227M 30.33%
16,950,000
+3,227,756
+24% +$38.2M
2022 Q1
14 quarters
HYG icon
2
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
$59M 7.89%
726,900
-95,100
-12% -$7.66M
2024 Q1
6 quarters
KGEI icon
3
Kolibri Global Energy
KGEI
$236M
$39.2M 5.24%
7,070,568
+1,711
+0% +$9.96K
2023 Q4
7 quarters
LYFT icon
4
Lyft
LYFT
$6.45B
$22M 2.94%
1,000,000
– –
2021 Q4
15 quarters
CXM icon
5
Sprinklr
CXM
$1.36B
$17M 2.27%
2,200,000
– –
2022 Q1
14 quarters
AUTL icon
6
Autolus Therapeutics
AUTL
$458M
$15.5M 2.07%
9,500,000
– –
2018 Q2
29 quarters
WK icon
7
Workiva
WK
$4.18B
$12.9M 1.73%
150,000
– –
2025 Q2
1 quarter
CLDX icon
8
Celldex Therapeutics
CLDX
$2.25B
$7.85M 1.05%
303,600
-12,550
-4% -$291K
2024 Q4
3 quarters
TARS icon
9
Tarsus Pharmaceuticals
TARS
$3.34B
$7.43M 0.99%
125,000
-125,000
-50% -$6.15M
2023 Q2
9 quarters
ANNX icon
10
Annexon
ANNX
$679M
$6.44M 0.86%
2,112,455
-697,545
-25% -$1.73M
2024 Q2
5 quarters
HYG icon
11
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
$5.92M 0.79%
72,961
+4,301
+6% +$347K
2022 Q4
11 quarters
AXSM icon
12
Axsome Therapeutics
AXSM
$8.43B
$5.64M 0.75%
46,456
+4,925
+12% +$555K
2024 Q4
3 quarters
PHVS icon
13
Pharvaris
PHVS
$2.07B
$4.86M 0.65%
194,612
+6,512
+3% +$144K
2025 Q1
2 quarters
SRRK icon
14
Scholar Rock
SRRK
$4.91B
$4.39M 0.59%
117,882
+14,400
+14% +$504K
2025 Q2
1 quarter
TECX icon
15
Tectonic Therapeutic
TECX
$417M
$3.82M 0.51%
243,728
+14,896
+7% +$307K
2025 Q1
2 quarters
AMLX icon
16
Amylyx Pharmaceuticals
AMLX
$3.49B
$3.51M 0.47%
258,242
+39,492
+18% +$372K
2025 Q2
1 quarter
MBX icon
17
MBX Biosciences
MBX
$2.37B
$3.11M 0.42%
+177,840
New +$2.38M
2025 Q3
0 quarters
IMVT icon
18
Immunovant
IMVT
$5.69B
$3.04M 0.41%
188,379
+40,562
+27% +$657K
2025 Q1
2 quarters
DYN icon
19
Dyne Therapeutics
DYN
$2.85B
$2.82M 0.38%
223,181
+84,806
+61% +$967K
2025 Q2
1 quarter
ARWR icon
20
Arrowhead Research
ARWR
$8.12B
$2.82M 0.38%
+81,841
New +$1.8M
2025 Q3
0 quarters
ALKS icon
21
Alkermes
ALKS
$6.64B
$2.69M 0.36%
89,612
+73,980
+473% +$2.09M
2025 Q2
1 quarter
ABVX icon
22
Abivax
ABVX
$7.98B
$2.55M 0.34%
+30,000
New +$1.84M
2025 Q3
0 quarters
SNOW icon
23
Snowflake
SNOW
$117B
$2.26M 0.3%
10,000
– –
2021 Q4
15 quarters
ACAD icon
24
Acadia Pharmaceuticals
ACAD
$3.38B
$1.84M 0.25%
86,071
-75,325
-47% -$1.78M
2025 Q1
2 quarters
HBM icon
25
Hudbay
HBM
$10.7B
$1.78M 0.24%
117,500
+10,500
+10% +$120K
2024 Q3
4 quarters
1
2

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MCM
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TFG Asset Management's Q3 2025 Portfolio in Review

As of Q3 2025, TFG Asset Management held 46 positions worth $748M, up 20% from $621M the previous quarter. Its ten largest holdings account for 83% of the portfolio.

TFG Asset Management withdrew a net $123M in Q3 2025, closing 2 positions and reducing 9 holdings. Its most notable exit was Sociedad Química y Minera de Chile, an estimated $272K position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 45% of assets, up from 44% a quarter earlier, followed by Technology and Healthcare.

Against the trend, TFG Asset Management opened a new position in MBX Biosciences worth $3.11M.

  • TFG Asset Management's largest Q3 2025 buy was MBX Biosciences: 177,840 shares worth $3.11M.
  • TFG Asset Management added most to UiPath in Q3 2025, an estimated $38.2M increase.
  • TFG Asset Management's biggest Q3 2025 reduction was Tarsus Pharmaceuticals, cutting an estimated $6.15M.
  • TFG Asset Management fully exited Sociedad Química y Minera de Chile in Q3 2025, selling an estimated $272K.
  • TFG Asset Management's ten largest holdings make up 83% of its $748M portfolio in Q3 2025.
  • TFG Asset Management opened 9 new positions and closed 2 in Q3 2025.
  • TFG Asset Management's portfolio value rose 20% quarter-over-quarter to $748M.

Based on TFG Asset Management's 13F filing for Q3 2025, filed 14 Nov 2025.