Tybourne Capital Management: 13F holdings, Q3 2025
Tiger lineage · SEC EDGAR filings (CIK 0001553936) · Explore on the interactive board
Tybourne Capital Management disclosed 4 US equity positions worth $30.9m in its Q3 2025 13F filing (holdings as of September 30, 2025, filed November 6, 2025). Its largest position is TSHA at 39.1% of the reported book, followed by FBRX, ALMS. The top ten holdings are 100.0% of the book, and the portfolio behaves like about 3 equal-weight positions. Versus the prior filing it opened 0 new positions, added to 0, reduced 2 and exited 2. Note: this manager's most recent filing is 3 quarters behind the newest quarter on file, so these figures are history rather than current positioning.
What does Tybourne Capital Management own? Top holdings as of September 30, 2025
Change is measured in shares against the previous filing (Q2 2025), so price moves do not read as decisions. This quarter: 0 new, 0 added, 2 reduced, 2 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | TSHA TAYSHA GENE THERAPIES INC (TSHA US) | Healthcare | 39.1% | $12.1m | 3,700,000 | -10% | reduced |
| 2 | FBRX FORTE BIOSCIENCES INC (FBRX US) | 38.1% | $11.8m | 786,647 | 0% | held | |
| 3 | ALMS ALUMIS INC (ALMS US) | 18.0% | $5.6m | 1,399,250 | 0% | held | |
| 4 | ZNTL ZENTALIS PHARMACEUTICALS INC (ZNTL US) | Healthcare | 4.7% | $1.5m | 961,486 | -35% | reduced |
What did Tybourne Capital Management sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| BCYC BICYCLE THERAPEUTICS LTD-ADR (BCYC US) | 76.8% | $6.9m |
| MBUU MALIBU BOATS INC (MBUU US) | 23.2% | $2.1m |
Sector mix
| Sector | Weight |
|---|---|
| Healthcare | 43.8% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
| Quarter | Positions | Equity value |
|---|---|---|
| Q3 2025 | 4 | $30.9m |
| Q2 2025 | 6 | $34.5m |
| Q1 2025 | 5 | $23.6m |
| Q4 2024 | 37 | $407.6m |
| Q3 2024 | 34 | $412.8m |
| Q2 2024 | 40 | $632.0m |
| Q1 2024 | 41 | $705.7m |
| Q4 2023 | 39 | $802.0m |
| Q3 2023 | 41 | $865.1m |
| Q2 2023 | 49 | $1.2bn |
| Q1 2023 | 49 | $1.3bn |
| Q4 2022 | 27 | $1.0bn |
| Q3 2022 | 26 | $1.0bn |
| Q2 2022 | 27 | $1.4bn |
| Q1 2022 | 30 | $1.7bn |
| Q4 2021 | 26 | $3.4bn |
Earliest filing: Q4 2012 · 52 quarters on file
How concentrated is Tybourne Capital Management's portfolio?
Across every quarter Tybourne Capital Management has filed, its median largest position is 15.1% of the book and its median top-ten weight is 97.9%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 191 completed holding spells, the median lasted 2.0 quarters; 4 positions are still open and their final length is unknown.