RTW INVESTMENTS, LP
CIK 1493215 · View on SEC EDGAR ↗
- Portfolio value
- $11.7B
- Positions
- 84
- As of
- June 30, 2026
#430 of 9,443 by 13F value · top 4.6%
Portfolio value QoQ: +16.5% 13F does not disclose cash
- Top 10 holdings weight
- 47.72%
- Top 25 holdings weight
- 77.26%
- Positions above 1%
- 32
- Effective number of positions
- 29.6
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 10.33% Est. buys $1,165,745,587 · sells $1,123,936,325
Median holding: 4.0 quarters Tracked Q4 2024–Q2 2026 · 59.2% still held
- New positions
- 9
- Increased
- 26
- Decreased
- 8
- Closed
- 13
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
- Related The person behind this filer, where we can match one.
Performance vs S&P 500
Annualized: +46.2% · S&P 500: +18.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 98.8% · Options excluded: 0.0%
Sector breakdown
Healthcare
97.2%
N/A
0.1%
Other/Unmapped
2.7%
Full portfolio 84 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| MDGL Madrigal Pharmaceuticals, Inc. - Common Stock | $1,070,510,235 | 9.14% | 1,993,687 | $26,874,901 | |||
| ARGX argenx SE - American Depositary Shares | $658,202,715 | 5.62% | 709,446 | $140,129,773 | |||
| PTCT PTC Therapeutics, Inc. - Common Stock | $631,875,072 | 5.39% | 7,746,415 | $104,111,818 | |||
| PTGX Protagonist Therapeutics, Inc. - Common Stock | $620,398,832 | 5.30% | 5,061,175 | $87,174,646 | Up ×1 | ||
| CGON CG Oncology, Inc. - Common stock | $604,961,620 | 5.16% | 8,514,590 | $132,229,815 | Up ×3 | ||
| INSM Insmed Incorporated - Common Stock | $516,347,866 | 4.41% | 4,842,880 | $-275,559,872 | |||
| TNGX Tango Therapeutics, Inc. - Common Stock | $434,533,381 | 3.71% | 13,900,620 | $156,284,411 | Up ×2 | ||
| SYRE Spyre Therapeutics, Inc. - Common Stock | $377,492,205 | 3.22% | 4,251,996 | $167,056,727 | Up ×1 | ||
| CELC Celcuity Inc. - Common Stock | $345,758,952 | 2.95% | 3,304,903 | $-1,183,389 | Up ×2 | ||
| ERAS Erasca, Inc. - Common Stock | $328,784,533 | 2.81% | 17,946,754 | $67,361,441 | Up ×2 | ||
| RDNT RadNet, Inc. - Common Stock | $298,911,900 | 2.55% | 4,846,958 | $59,423,250 | Up ×6 | ||
| ORKA Oruka Therapeutics, Inc. - Common Stock | $298,741,485 | 2.55% | 3,139,030 | $197,789,326 | Up ×1 | ||
| NTRA Natera, Inc. - Common Stock | $271,450,000 | 2.32% | 1,000,000 | $21,462,500 | Down ×4 | ||
| RARE Ultragenyx Pharmaceutical Inc. - Common Stock | $260,338,324 | 2.22% | 7,796,895 | $183,896,069 | Up ×2 | ||
| IRTC iRhythm Holdings, Inc. - Common Stock | $259,623,957 | 2.22% | 2,182,631 | $62,707,587 | Up ×2 | ||
| CYTK Cytokinetics, Incorporated - Common Stock | $243,814,036 | 2.08% | 2,862,003 | $64,462,512 | Up ×1 | ||
| Unknown issuer (CUSIP: 482931102) | $237,413,345 | 2.03% | 10,776,820 | Up ×1 | |||
| ESTA Establishment Labs Holdings Inc. - Common Shares | $227,885,188 | 1.95% | 2,655,695 | $77,094,826 | |||
| GH Guardant Health, Inc. - Common Stock | $222,199,381 | 1.90% | 1,481,033 | $85,396,363 | |||
| NBIX Neurocrine Biosciences, Inc. - Common Stock | $213,689,740 | 1.82% | 1,267,925 | $73,772,375 | Up ×1 | ||
| TARS Tarsus Pharmaceuticals, Inc. - Common Stock | $211,293,293 | 1.80% | 3,357,059 | $-23,430,361 | Up ×4 | ||
| STOK Stoke Therapeutics, Inc. - Common Stock | $184,001,738 | 1.57% | 5,623,525 | $899,764 | |||
| QURE uniQure N.V. - Ordinary Shares | $181,548,806 | 1.55% | 3,941,572 | $139,261,885 | Up ×1 | ||
| ACAD ACADIA Pharmaceuticals Inc. - Common Stock | $180,756,457 | 1.54% | 7,144,524 | $21,719,353 | |||
| RGEN Repligen Corporation - Common Stock | $169,272,512 | 1.45% | 1,240,637 | $27,181,592 | Up ×2 | ||
| URGN UroGen Pharma Ltd. - Ordinary Shares | $167,215,336 | 1.43% | 4,543,895 | $85,516,104 | |||
| GHRS GH Research PLC - Ordinary Shares | $159,500,947 | 1.36% | 5,933,815 | $76,071,508 | |||
| IMCR Immunocore Holdings plc - American Depositary Shares | $154,616,087 | 1.32% | 4,869,798 | $7,791,677 | |||
| CMPS COMPASS Pathways Plc - American Depository Shares | $151,418,782 | 1.29% | 10,700,974 | $92,621,665 | Up ×6 | ||
| IMTX Immatics N.V. - Ordinary Shares | $131,144,763 | 1.12% | 12,946,176 | $4,510,457 | Up ×6 | ||
| ZLAB Zai Lab Limited - American Depositary Shares | $124,906,608 | 1.07% | 6,574,032 | $1,249,066 | |||
| IMVT Immunovant, Inc. - Common Stock | $122,442,522 | 1.05% | 3,177,849 | $43,504,753 | |||
| BLTE Belite Bio, Inc - American Depositary Shares | $110,150,398 | 0.94% | 715,332 | $-3,902,136 | |||
| XNCR Xencor, Inc. - Common Stock | $109,117,122 | 0.93% | 6,777,461 | $27,380,942 | |||
| TSHA Taysha Gene Therapies, Inc. - Common Stock | $92,345,357 | 0.79% | 13,560,258 | $31,194,648 | Down ×4 | ||
| COGT Cogent Biosciences, Inc. - Common Stock | $89,359,113 | 0.76% | 2,309,021 | $-120,745,288 | Down ×2 | ||
| ALKS Alkermes plc - Ordinary Shares | $87,623,093 | 0.75% | 1,672,356 | $28,488,585 | |||
| GPCR Structure Therapeutics Inc. - American Depositary Shares | $86,274,901 | 0.74% | 1,607,507 | ||||
| REPL Replimune Group, Inc. - Common Stock | $82,046,202 | 0.70% | 7,411,581 | $25,765,795 | Up ×4 | ||
| CSTL Castle Biosciences, Inc. - Common stock | $66,263,290 | 0.57% | 2,778,335 | $-1,453,834 | Up ×2 | ||
| CADL Candel Therapeutics, Inc. - Common Stock | $66,146,785 | 0.56% | 6,422,018 | $34,678,897 | |||
| RCKT Rocket Pharmaceuticals, Inc. - Common Stock | $60,492,180 | 0.52% | 17,687,772 | $-2,830,044 | |||
| KOD Kodiak Sciences Inc - Common Stock | $57,969,909 | 0.49% | 1,487,934 | $1,249,865 | |||
| AKTS Aktis Oncology, Inc. - Common stock | $51,311,546 | 0.44% | 1,592,043 | $22,829,897 | |||
| AXGN Axogen, Inc. - Common Stock | $46,724,695 | 0.40% | 1,011,576 | Up ×1 | |||
| DHR Danaher Corporation Common Stock | $43,810,400 | 0.37% | 230,000 | Up ×1 | |||
| CGEM Cullinan Therapeutics, Inc. - Common Stock | $43,054,759 | 0.37% | 2,364,347 | $18,813,067 | Up ×1 | ||
| NGNE Neurogene Inc. - Common Stock | $42,849,241 | 0.37% | 1,362,456 | $15,382,128 | |||
| HNGE Hinge Health, Inc. Class A Common Stock | $41,500,000 | 0.35% | 500,000 | $-32,920,800 | Down ×1 | ||
| OBIO Orchestra BioMed Holdings, Inc. - Ordinary Shares | $41,234,412 | 0.35% | 9,556,063 | $5,933,644 | Up ×1 | ||
| SLDB Solid Biosciences Inc. - Common Stock | $38,890,331 | 0.33% | 3,892,926 | Up ×1 | |||
| SVRA Savara, Inc. - Common Stock | $36,666,661 | 0.31% | 5,952,380 | $4,166,666 | |||
| AQST Aquestive Therapeutics, Inc. - Common Stock | $30,894,119 | 0.26% | 7,426,471 | $74,264 | |||
| KYMR Kymera Therapeutics, Inc. - Common Stock | $27,520,800 | 0.23% | 240,000 | $7,531,200 | |||
| VSTM Verastem, Inc. - Common Stock | $25,348,729 | 0.22% | 6,635,793 | $-9,505,693 | Up ×1 | ||
| DNTH Dianthus Therapeutics, Inc. - Common Stock | $24,181,181 | 0.21% | 248,063 | $3,363,734 | |||
| BBNX Beta Bionics, Inc. - Common Stock | $23,505,000 | 0.20% | 1,500,000 | $3,465,000 | Down ×3 | ||
| IPSC Century Therapeutics, Inc. - Common Stock | $21,304,347 | 0.18% | 8,695,652 | $1,652,173 | |||
| EVMN Evommune, Inc. Common Stock | $19,964,703 | 0.17% | 1,502,235 | $-14,571,680 | |||
| BEAM Beam Therapeutics Inc. - Common Stock | $19,575,922 | 0.17% | 570,394 | $5,983,433 | |||
| DFTX Definium Therapeutics, Inc. - Common Shares | $18,816,000 | 0.16% | 400,000 | $13,146,000 | Up ×1 | ||
| IDYA IDEAYA Biosciences, Inc. - Common Stock | $13,803,690 | 0.12% | 370,370 | ||||
| ATAI AtaiBeckley Inc. - Common Stock | $10,540,000 | 0.09% | 2,000,000 | $3,460,000 | |||
| MIST Milestone Pharmaceuticals Inc. - Common Shares | $10,496,670 | 0.09% | 7,833,336 | $2,962,779 | Up ×2 | ||
| OCGN Ocugen, Inc. - Common Stock | $10,199,999 | 0.09% | 6,666,666 | $-1,866,666 | |||
| TENX Tenax Therapeutics, Inc. - Common Stock | $10,135,094 | 0.09% | 696,570 | $4,214,860 | Up ×1 | ||
| HTFL Heartflow, Inc. - Common Stock | $8,655,300 | 0.07% | 295,000 | $-3,388,050 | Down ×1 | ||
| PCSC Perceptive Capital Solutions Corp - Class A Ordinary Shares | $8,078,400 | 0.07% | 742,500 | $-66,825 | |||
| WVE Wave Life Sciences Ltd. - Ordinary Shares | $7,843,500 | 0.07% | 1,350,000 | $-1,944,000 | |||
| LRMR Larimar Therapeutics, Inc. - Common Stock | $7,826,297 | 0.07% | 2,565,999 | $1,076,297 | Up ×1 | ||
| LMRI Lumexa Imaging Holdings, Inc. - Common Stock | $7,332,000 | 0.06% | 650,000 | $1,742,000 | |||
| ALLO Allogene Therapeutics, Inc. - Common Stock | $6,760,000 | 0.06% | 3,250,000 | Up ×1 | |||
| CBIO Crescent Biopharma, Inc. - Common Stock | $6,711,408 | 0.06% | 372,856 | $-137,957 | |||
| FDMT 4D Molecular Therapeutics, Inc. - Common Stock | $6,327,302 | 0.05% | 475,737 | $1,898,191 | |||
| MAZE Maze Therapeutics, Inc. - Common Stock | $6,326,080 | 0.05% | 212,000 | Up ×1 | |||
| CAPR Capricor Therapeutics, Inc. - Common Stock | $6,020,000 | 0.05% | 250,000 | $-1,580,000 | |||
| KLRS Kalaris Therapeutics, Inc. - Common Stock | $5,291,000 | 0.05% | 1,300,000 | $-2,210,000 | |||
| ABVX Abivax SA - American Depositary Shares | $3,518,064 | 0.03% | 26,400 | ||||
| AVTX Avalo Therapeutics, Inc. - Common Stock | $3,234,000 | 0.03% | 175,000 | $-9,560,443 | Down ×1 | ||
| MDLN Medline Inc. - Class A common stock | $2,760,800 | 0.02% | 70,000 | $-354,200 | |||
| IRON Disc Medicine, Inc. - Common Stock | $2,194,200 | 0.02% | 30,000 | $276,000 | |||
| IMA ImageneBio, Inc. - Common Stock | $1,973,226 | 0.02% | 334,445 | $301,001 | |||
| XGN Exagen Inc. - Common Stock | $906,750 | 0.01% | 195,000 | $-278,943 | Down ×3 | ||
| RCKTW Rocket Pharmaceuticals, Inc. - Warrant | $1,190 | 0.00% | 350,000 | $-6,020 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| Unknown issuer (CUSIP: 482931102) | $237,413,345 | 10,776,820 | 2.03% |
| GPCR | $86,274,901 | 1,607,507 | 0.74% |
| AXGN | $46,724,695 | 1,011,576 | 0.40% |
| DHR | $43,810,400 | 230,000 | 0.37% |
| SLDB | $38,890,331 | 3,892,926 | 0.33% |
| IDYA | $13,803,690 | 370,370 | 0.12% |
| ALLO | $6,760,000 | 3,250,000 | 0.06% |
| MAZE | $6,326,080 | 212,000 | 0.05% |
| ABVX | $3,518,064 | 26,400 | 0.03% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| INSM | Price move only | +0 | -$275.6M |
| ORKA | Bought more | +1.1M | +$197.8M |
| RARE | Bought more | +4.1M | +$183.9M |
| SYRE | Bought more | +80K | +$167.1M |
| TNGX | Bought more | +600K | +$156.3M |
| ARGX | Price move only | +0 | +$140.1M |
| QURE | Bought more | +1.4M | +$139.3M |
| CGON | Bought more | +1.5M | +$132.2M |
| COGT | Trimmed | -3.1M | -$120.7M |
| PTCT | Price move only | +0 | +$104.1M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| RNA | Dec. 31, 2025 | 11,372,829 | $495,514,160 | -81.8% |
| VRNA | Sept. 30, 2025 | 3,051,878 | $288,646,621 | No longer tracked |
| PEN | March 31, 2026 | 866,499 | $269,403,204 | -1.3% |
| AKRO | Dec. 31, 2025 | 5,477,561 | $260,074,596 | No longer tracked |
| APGE | June 30, 2026 | 2,782,097 | $234,169,104 | 1.6% |
| MRUS | Dec. 31, 2025 | 2,025,277 | $190,679,830 | No longer tracked |
| AXSM | March 31, 2026 | 888,001 | $162,184,503 | 23.4% |
| APLS | June 30, 2026 | 3,685,045 | $148,249,360 | No longer tracked |
| BRKR | March 31, 2025 | 2,481,119 | $145,443,196 | 41.2% |
| ISRG | June 30, 2026 | 220,000 | $101,417,800 | -6.1% |
| PODD | March 31, 2026 | 324,600 | $92,264,304 | -30.4% |
| MASI | March 31, 2026 | 683,294 | $88,869,218 | No longer tracked |
| GMED | June 30, 2025 | 1,125,000 | $82,350,000 | 44.5% |
| CNTA | June 30, 2026 | 2,054,175 | $81,591,831 | No longer tracked |
| ABT | Sept. 30, 2025 | 444,000 | $60,388,440 | -14.6% |
| RAPT | March 31, 2026 | 1,637,165 | $55,450,779 | No longer tracked |
| CRNX | June 30, 2026 | 1,451,326 | $52,712,160 | 126.5% |
| DGX | Dec. 31, 2025 | 250,000 | $47,645,000 | 38.6% |
| LENZ | Dec. 31, 2025 | 863,389 | $40,216,660 | -70.1% |
| WAY | June 30, 2026 | 1,630,000 | $39,299,300 | 20.7% |
| ARWR | June 30, 2026 | 585,682 | $36,722,261 | 8.2% |
| DYN | Dec. 31, 2025 | 2,890,567 | $36,565,673 | 34.9% |
| SLNO | Sept. 30, 2025 | 424,408 | $35,556,902 | No longer tracked |
| MLTX | Sept. 30, 2025 | 741,090 | $34,979,448 | 121.2% |
| SYK | June 30, 2026 | 100,000 | $32,859,000 | 5.0% |
| ABVX | Dec. 31, 2025 | 350,000 | $29,715,000 | -11.4% |
| GEHC | Dec. 31, 2025 | 393,500 | $29,551,850 | -9.7% |
| ARVN | June 30, 2025 | 3,334,308 | $23,406,842 | 24.0% |
| CMPX | June 30, 2026 | 4,186,599 | $22,147,109 | 10.3% |
| ALEC | Dec. 31, 2025 | 6,990,806 | $20,692,786 | 45.8% |
| FLGT | June 30, 2026 | 1,289,000 | $20,495,100 | -4.1% |
| ETNB | Sept. 30, 2025 | 1,967,527 | $19,321,115 | No longer tracked |
| GKOS | June 30, 2025 | 190,000 | $18,699,800 | 78.9% |
| ROIV | March 31, 2025 | 1,454,273 | $17,204,050 | 266.8% |
| SAGE | March 31, 2025 | 3,002,370 | $16,302,869 | No longer tracked |
| TRML | March 31, 2025 | 736,681 | $14,939,891 | No longer tracked |
| DNTH | March 31, 2025 | 666,667 | $14,533,341 | 516.3% |
| IMVT | March 31, 2025 | 530,614 | $13,143,309 | 160.6% |
| PEPG | March 31, 2025 | 3,193,097 | $12,101,838 | 123.5% |
| TEM | March 31, 2026 | 200,000 | $11,810,000 | 46.8% |
| CTMX | Dec. 31, 2025 | 3,461,500 | $11,042,185 | -20.7% |
| IQV | March 31, 2026 | 46,000 | $10,368,860 | 50.2% |
| BEAM | June 30, 2025 | 438,659 | $8,567,010 | 71.5% |
| JBIO | June 30, 2026 | 573,205 | $8,053,530 | -3.1% |
| ALUR | March 31, 2026 | 5,891,430 | $7,246,459 | No longer tracked |
| IVA | June 30, 2026 | 1,298,702 | $7,207,796 | 25.4% |
| GPCR | March 31, 2026 | 100,000 | $6,955,000 | 5.5% |
| PEPG | Dec. 31, 2025 | 1,500,000 | $6,930,000 | -51.8% |
| IDYA | March 31, 2025 | 200,000 | $5,140,000 | 147.5% |
| CRGX | Sept. 30, 2025 | 1,212,562 | $4,995,755 | No longer tracked |
| IMUX | March 31, 2025 | 4,567,717 | $4,567,717 | 1415.1% |
| MNMD | March 31, 2026 | 300,000 | $4,017,000 | No longer tracked |
| CRVS | March 31, 2026 | 447,607 | $3,446,574 | -0.4% |
| GPCR | March 31, 2025 | 125,000 | $3,390,000 | 193.8% |
| KMTS | Sept. 30, 2025 | 200,000 | $3,316,000 | 14.6% |
| SLRN | March 31, 2025 | 978,310 | $3,071,893 | No longer tracked |
| BIOA | June 30, 2025 | 786,353 | $2,956,687 | 136.6% |
| CBLL | Sept. 30, 2025 | 150,000 | $2,809,500 | 108.4% |
| RGNX | March 31, 2025 | 350,000 | $2,705,500 | 53.6% |
| OMDA | June 30, 2026 | 200,000 | $2,514,000 | 7.7% |
| EPIX | March 31, 2025 | 1,113,002 | $1,992,274 | No longer tracked |
| ARTV | March 31, 2025 | 148,844 | $1,500,348 | 278.7% |
| ADGM | Dec. 31, 2025 | 209,361 | $406,160 | -37.9% |
| IMUX | Sept. 30, 2025 | 402,107 | $280,470 | 1772.4% |