Tarsus Pharmaceuticals
TARS
205 hedge funds and large institutions have $1.87B invested in Tarsus Pharmaceuticals in 2025 Q2 according to their latest regulatory filings, with 44 funds opening new positions, 88 increasing their positions, 49 reducing their positions, and 30 closing their positions.
80% more repeat investments, than reductions
Existing positions increased: 88 | Existing positions reduced: 49
47% more first-time investments, than exits
New positions opened: 44 | Existing positions closed: 30
6% more funds holding
Funds holding: 194 → 205 (+11)
4.15% more ownership
Funds ownership: 105.65% → 109.8% (+4.2%)
17% less capital invested
Capital invested by funds: $2.26B → $1.87B (-$390M)
43% less funds holding in top 10
Funds holding in top 10: 7 → 4 (-3)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Janus Henderson Group
London,
United Kingdom
|
+$58.2M |
| 2 |
BlackRock
New York
|
+$28.7M |
| 3 |
ClearBridge Investments
New York
|
+$20M |
| 4 |
PBA
Paradigm Biocapital Advisors
New York
|
+$16.5M |
| 5 |
MB
MPM BioImpact
Boston,
Massachusetts
|
+$15.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Toronto Dominion Bank
Toronto, Ontario,
Ontario, Canada
|
-$39.3M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$34.4M |
| 3 |
O
OrbiMed
New York
|
-$20.5M |
| 4 |
GGHC
Gilder Gagnon Howe & Co
New York
|
-$15.3M |
| 5 |
Lord, Abbett & Co
Jersey City,
New Jersey
|
-$15.1M |
TARS Hedge Fund Activity: Q2 2025 in Review
205 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Tarsus Pharmaceuticals (TARS) for Q2 2025, worth a combined $1.87B — down 17% from $2.26B a quarter earlier.
Buyers outnumbered sellers: 44 funds opened new TARS positions and 30 closed out — a net gain of 14 holders — while 88 added to existing stakes and 49 trimmed.
The largest buyer was Janus Henderson Group, adding an estimated $58.2M. The largest seller was Toronto Dominion Bank, cutting an estimated $39.3M.
- 205 institutional investors held Tarsus Pharmaceuticals (TARS) as of Q2 2025, up from 194 in Q1 2025.
- Funds reported $1.87B of Tarsus Pharmaceuticals stock for Q2 2025, down 17% quarter-over-quarter.
- 44 funds opened new Tarsus Pharmaceuticals positions in Q2 2025 and 30 closed out, a net change of +14 holders.
- The largest Tarsus Pharmaceuticals buyer in Q2 2025 was Janus Henderson Group, an estimated $58.2M added.
- The largest Tarsus Pharmaceuticals seller in Q2 2025 was Toronto Dominion Bank, an estimated $39.3M sold.
Based on aggregated 13F filings for Q2 2025.