Who owns TARS (TARS)
Which tracked institutional funds hold TARS, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See TARS company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
48 tracked funds added or opened TARS while 110 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
TARS’s largest tracked holder by dollar value, Deep Track Capital, LP, sizes it at 5.2% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 5.2pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in TARS divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 254 tracked filers holding TARS, 138 increased or opened the position and 121 reduced or closed it; over the same quarter, open-market insider Form 4 buying and selling roughly offset.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in TARS between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 26
- VANGUARD CAPITAL MANAGEMENT LLC$124M
- VANGUARD PORTFOLIO MANAGEMENT LLC$24M
- VANGUARD FIDUCIARY TRUST CO$19M
- BRAIDWELL LP$19M
- Tri Locum Partners LP$18M
- Vestal Point Capital, LP$14M
Full exits 22
- VANGUARD GROUP INC$171M
- ORBIMED ADVISORS LLC$13M
- Squadron Capital Management LLC$7M
- Informed Momentum Co LLC$6M
- F/m Investments LLC$3M
- SILVERARC CAPITAL MANAGEMENT, LLC$3M
Largest adds
- MILLENNIUM MANAGEMENT LLC$30M
- BANK OF AMERICA CORP /DE/$22M
- Squarepoint Ops LLC$15M
- Point72 Asset Management, L.P.$13M
- NORGES BANK$10M
- Deep Track Capital, LP$7M
Largest trims
- BlackRock, Inc.$179M
- JENNISON ASSOCIATES LLC$62M
- RTW INVESTMENTS, LP$38M
- Invesco Ltd.$33M
- Driehaus Capital Management LLC$31M
- MORGAN STANLEY$31M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Deep Track Capital, LP added | 3,600,000 | $253M | 7.7% | 2026-Q1 |
| RTW INVESTMENTS, LP added | 3,346,025 | $235M | 7.2% | 2026-Q1 |
| Paradigm Biocapital Advisors LP | 2,562,154 | $180M | 5.5% | 2026-Q1 |
| JANUS HENDERSON GROUP PLC added | 2,240,963 | $157M | 4.8% | 2026-Q1 |
| MORGAN STANLEY trimmed | 1,944,272 | $136M | 4.2% | 2026-Q1 |
| BlackRock, Inc. trimmed | 1,872,482 | $131M | 4.0% | 2026-Q1 |
| VANGUARD CAPITAL MANAGEMENT LLC new | 1,760,541 | $124M | 3.8% | 2026-Q1 |
| JENNISON ASSOCIATES LLC trimmed | 1,712,124 | $120M | 3.7% | 2026-Q1 |
| Assenagon Asset Management S.A. added | 1,280,194 | $90M | 2.7% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 1,194,377 | $84M | 2.6% | 2026-Q1 |
| TANG CAPITAL MANAGEMENT LLC | 1,188,624 | $83M | 2.5% | 2026-Q1 |
| GEODE CAPITAL MANAGEMENT, LLC added | 1,121,091 | $79M | 2.4% | 2026-Q1 |
| STATE STREET CORP added | 978,212 | $69M | 2.1% | 2026-Q1 |
| Driehaus Capital Management LLC trimmed | 926,125 | $65M | 2.0% | 2026-Q1 |
| LORD, ABBETT & CO. LLC trimmed | 842,313 | $59M | 1.8% | 2026-Q1 |
| D. E. Shaw & Co., Inc. added | 791,146 | $55M | 1.7% | 2026-Q1 |
| FMR LLC added | 733,270 | $51M | 1.6% | 2026-Q1 |
| Frazier Life Sciences Management, L.P. | 728,644 | $51M | 1.6% | 2026-Q1 |
| Invesco Ltd. trimmed | 714,200 | $50M | 1.5% | 2026-Q1 |
| MILLENNIUM MANAGEMENT LLC added | 564,579 | $40M | 1.2% | 2026-Q1 |
| Clearbridge Investments, LLC added | 545,351 | $38M | 1.2% | 2026-Q1 |
| TORONTO DOMINION BANK | 510,253 | $36M | 1.1% | 2026-Q1 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. trimmed | 499,853 | $35M | 1.1% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 439,626 | $31M | 0.9% | 2026-Q1 |
| LOOMIS SAYLES & CO L P trimmed | 407,836 | $29M | 0.9% | 2026-Q1 |
| TimesSquare Capital Management, LLC added | 388,590 | $27M | 0.8% | 2026-Q1 |
| NORTHERN TRUST CORP added | 352,957 | $25M | 0.8% | 2026-Q1 |
| VANGUARD PORTFOLIO MANAGEMENT LLC new | 335,889 | $24M | 0.7% | 2026-Q1 |
| FRANKLIN RESOURCES INC trimmed | 333,676 | $23M | 0.7% | 2026-Q1 |
| Ensign Peak Advisors, Inc trimmed | 332,982 | $23M | 0.7% | 2026-Q1 |
| MPM BIOIMPACT LLC added | 329,750 | $23M | 0.7% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC trimmed | 328,162 | $23M | 0.7% | 2026-Q1 |
| Qube Research & Technologies Ltd trimmed | 324,014 | $23M | 0.7% | 2026-Q1 |
| Nuveen, LLC trimmed | 315,290 | $22M | 0.7% | 2026-Q1 |
| Artisan Partners Limited Partnership trimmed | 307,307 | $22M | 0.7% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 303,509 | $21M | 0.7% | 2026-Q1 |
| NORGES BANK added | 391,061 | $20M | 0.6% | 2026-Q1 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 274,804 | $19M | 0.6% | 2026-Q1 |
| VANGUARD FIDUCIARY TRUST CO new | 272,743 | $19M | 0.6% | 2026-Q1 |
| BRAIDWELL LP new | 265,715 | $19M | 0.6% | 2026-Q1 |
| Tri Locum Partners LP added | 252,588 | $18M | 0.5% | 2026-Q1 |
| Squarepoint Ops LLC added | 241,033 | $17M | 0.5% | 2026-Q1 |
| Point72 Asset Management, L.P. added | 226,251 | $16M | 0.5% | 2026-Q1 |
| Rock Springs Capital Management LP trimmed | 225,179 | $16M | 0.5% | 2026-Q1 |
| Cormorant Asset Management, LP trimmed | 225,000 | $16M | 0.5% | 2026-Q1 |
| Integral Health Asset Management, LLC | 200,000 | $14M | 0.4% | 2026-Q1 |
| Vestal Point Capital, LP trimmed | 200,000 | $14M | 0.4% | 2026-Q1 |
| M&G PLC new | 166,364 | $12M | 0.4% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 163,997 | $12M | 0.4% | 2026-Q1 |
| CANADA PENSION PLAN INVESTMENT BOARD added | 152,200 | $11M | 0.3% | 2026-Q1 |
| Russell Investments Group, Ltd. trimmed | 145,926 | $10M | 0.3% | 2026-Q1 |
| Allspring Global Investments Holdings, LLC added | 131,612 | $9M | 0.3% | 2026-Q1 |
| FIRST TRUST ADVISORS LP added | 122,911 | $9M | 0.3% | 2026-Q1 |
| DEUTSCHE BANK AG\ added | 121,862 | $9M | 0.3% | 2026-Q1 |
| Jefferies Financial Group Inc. | 118,810 | $8M | 0.3% | 2026-Q1 |
| Connor, Clark & Lunn Investment Management Ltd. trimmed | 111,437 | $8M | 0.2% | 2026-Q1 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND trimmed | 108,800 | $8M | 0.2% | 2026-Q1 |
| Bank of New York Mellon Corp trimmed | 106,782 | $7M | 0.2% | 2026-Q1 |
| Woodline Partners LP added | 100,443 | $7M | 0.2% | 2026-Q1 |
| Universal- Beteiligungs- und Servicegesellschaft mbH trimmed | 90,663 | $6M | 0.2% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 89,293 | $6M | 0.2% | 2026-Q1 |
| Sands Capital Alternatives, LLC | 85,000 | $6M | 0.2% | 2026-Q1 |
| UBS Group AG added | 82,124 | $6M | 0.2% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 80,892 | $6M | 0.2% | 2026-Q1 |
| Ally Bridge Group (NY) LLC added | 80,859 | $6M | 0.2% | 2026-Q1 |
| PFM Health Sciences, LP added | 80,226 | $6M | 0.2% | 2026-Q1 |
| RENAISSANCE TECHNOLOGIES LLC added | 73,400 | $5M | 0.2% | 2026-Q1 |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC trimmed | 71,135 | $5M | 0.2% | 2026-Q1 |
| Voleon Capital Management LP trimmed | 68,935 | $5M | 0.1% | 2026-Q1 |
| Cinctive Capital Management LP added | 68,769 | $5M | 0.1% | 2026-Q1 |
| STATE OF WISCONSIN INVESTMENT BOARD added | 67,087 | $5M | 0.1% | 2026-Q1 |
| PDT Partners, LLC | 63,026 | $4M | 0.1% | 2026-Q1 |
| Swiss National Bank added | 62,933 | $4M | 0.1% | 2026-Q1 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 62,706 | $4M | 0.1% | 2026-Q1 |
| CITIGROUP INC added | 54,335 | $4M | 0.1% | 2026-Q1 |
| HighVista Strategies LLC trimmed | 52,464 | $4M | 0.1% | 2026-Q1 |
| XTX Topco Ltd added | 51,634 | $4M | 0.1% | 2026-Q1 |
| FEDERATED HERMES, INC. trimmed | 49,094 | $3M | 0.1% | 2026-Q1 |
| Jump Financial, LLC trimmed | 47,600 | $3M | 0.1% | 2026-Q1 |
| ALLIANCEBERNSTEIN L.P. trimmed | 40,616 | $3M | 0.1% | 2026-Q1 |
| RHUMBLINE ADVISERS trimmed | 46,958 | $3M | 0.1% | 2026-Q1 |
| Calamos Advisors LLC added | 43,832 | $3M | 0.1% | 2026-Q1 |
| VANGUARD GROUP INC trimmed | 2,085,938 | $171M | 5.2% | 2025-Q4 stale |
| MACQUARIE GROUP LTD trimmed | 833,437 | $50M | 1.5% | 2025-Q3 stale |
| ADAGE CAPITAL PARTNERS GP, L.L.C. added | 543,000 | $22M | 0.7% | 2025-Q2 stale |
| ORBIMED ADVISORS LLC trimmed | 154,400 | $13M | 0.4% | 2025-Q4 stale |
| Cutter Capital Management, LP added | 205,000 | $11M | 0.3% | 2025-Q1 stale |
| Affinity Asset Advisors, LLC new | 125,000 | $7M | 0.2% | 2025-Q3 stale |
| TFG Asset Management GP Ltd trimmed | 125,000 | $7M | 0.2% | 2025-Q3 stale |
| Atika Capital Management LLC trimmed | 144,400 | $7M | 0.2% | 2025-Q1 stale |
| Squadron Capital Management LLC new | 80,000 | $7M | 0.2% | 2025-Q4 stale |
| Capitolis Liquid Global Markets LLC trimmed | 102,600 | $6M | 0.2% | 2025-Q3 stale |
| Informed Momentum Co LLC added | 72,922 | $6M | 0.2% | 2025-Q4 stale |
| BALYASNY ASSET MANAGEMENT L.P. added | 138,019 | $6M | 0.2% | 2025-Q2 stale |
| DIMENSIONAL FUND ADVISORS LP trimmed | 91,171 | $5M | 0.2% | 2025-Q3 stale |
| Cubist Systematic Strategies, LLC added | 73,955 | $4M | 0.1% | 2025-Q3 stale |
| CASTLEARK MANAGEMENT LLC new | 74,920 | $4M | 0.1% | 2025-Q1 stale |
| F/m Investments LLC new | 39,240 | $3M | 0.1% | 2025-Q4 stale |
| GILDER GAGNON HOWE & CO LLC trimmed | 77,164 | $3M | 0.1% | 2025-Q2 stale |
| Aberdeen Group plc trimmed | 51,678 | $3M | 0.1% | 2025-Q3 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.