Tarsus Pharmaceuticals
TARS
246 hedge funds and large institutions have $3.61B invested in Tarsus Pharmaceuticals in 2025 Q4 according to their latest regulatory filings, with 52 funds opening new positions, 84 increasing their positions, 85 reducing their positions, and 23 closing their positions.
3,973% more call options, than puts
Call options by funds: $27.3M | Put options by funds: $671K
126% more first-time investments, than exits
New positions opened: 52 | Existing positions closed: 23
35% more capital invested
Capital invested by funds: $2.67B → $3.61B (+$939M)
12% more funds holding
Funds holding: 220 → 246 (+26)
1% less repeat investments, than reductions
Existing positions increased: 84 | Existing positions reduced: 85
2.57% less ownership
Funds ownership: 106.35% → 103.77% (-2.6%)
17% less funds holding in top 10
Funds holding in top 10: 6 → 5 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
+$46.7M |
| 2 |
Janus Henderson Group
London,
|
+$36.7M |
| 3 |
Franklin Resources
San Mateo,
California
|
+$23.5M |
| 4 |
Bank of America
Charlotte,
North Carolina
|
+$16.6M |
| 5 |
RI
RTW Investments
New York
|
+$11.8M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TCM
Tang Capital Management
San Diego,
California
|
-$94.5M |
| 2 |
Macquarie Group
Sydney, NSW 2000,
Australia
|
-$49.5M |
| 3 |
FLSM
Frazier Life Sciences Management
Palo Alto,
California
|
-$32.8M |
| 4 |
Jennison Associates
New York
|
-$28M |
| 5 |
CFM
Capricorn Fund Managers
London,
United Kingdom
|
-$16.3M |
TARS Hedge Fund Activity: Q4 2025 in Review
246 institutional investors reported a position in Tarsus Pharmaceuticals (TARS) for Q4 2025, worth a combined $3.61B — up 35% from $2.67B a quarter earlier.
Buyers outnumbered sellers: 52 funds opened new TARS positions and 23 closed out — a net gain of 29 holders — while 84 added to existing stakes and 85 trimmed.
The largest buyer was Fidelity Investments, adding an estimated $46.7M. The largest seller was Tang Capital Management, cutting an estimated $94.5M.
- 246 institutional investors held Tarsus Pharmaceuticals (TARS) as of Q4 2025, up from 220 in Q3 2025.
- Funds reported $3.61B of Tarsus Pharmaceuticals stock for Q4 2025, up 35% quarter-over-quarter.
- 52 funds opened new Tarsus Pharmaceuticals positions in Q4 2025 and 23 closed out, a net change of +29 holders.
- The largest Tarsus Pharmaceuticals buyer in Q4 2025 was Fidelity Investments, an estimated $46.7M added.
- The largest Tarsus Pharmaceuticals seller in Q4 2025 was Tang Capital Management, an estimated $94.5M sold.
Based on aggregated 13F filings for Q4 2025.