RTW Investments, LP
NEW YORK, NY
$11.7bn in 84 US stocks at the end of 30 June 2026. The top 10 are 47.7% of the money. It changed about 17.4% of the portfolio this quarter.
Value
$11.7bn
Stocks
84
Top 10 share
47.7%
Turnover
17.4%
What changed this quarter
New
Bought for the first time this quarter.
- Kailera TherapeuticsKLRA2.0% of the fund
- Structure TherapeuticsGPCR0.7% of the fund
- AxogenAXGN0.4% of the fund
- DanaherDHR0.4% of the fund
- Solid BiosciencesSLDB0.3% of the fund
- IDEAYA BiosciencesIDYA0.1% of the fund
- Allogene TherapeuticsALLO<0.1% of the fund
- Maze TherapeuticsMAZE<0.1% of the fund
- Abivax SAABVX<0.1% of the fund
Added
Bought more of a stock they already held.
- CG OncologyCGON5.2% of the fund+22%
- Tango TherapeuticsTNGX3.7% of the fund+5%
- CelcuityCELC3.0% of the fund+9%
- ErascaERAS2.8% of the fund+11%
- RadNetRDNT2.6% of the fund+13%
- Oruka TherapeuticsORKA2.6% of the fund+53%
- Ultragenyx PharmaceuticalRARE2.2% of the fund+114%
- iRhythm HoldingsIRTC2.2% of the fund+31%
- CytokineticsCYTK2.1% of the fund+5%
- Neurocrine BiosciencesNBIX1.8% of the fund+19%
- uniQureQURE1.5% of the fund+52%
- RepligenRGEN1.4% of the fund+3%
- Cullinan TherapeuticsCGEM0.4% of the fund+39%
- Orchestra BioMed HoldingsOBIO0.4% of the fund+15%
- Definium TherapeuticsDFTX0.2% of the fund+33%
- Milestone PharmaceuticalsMIST<0.1% of the fund+24%
- Tenax TherapeuticsTENX<0.1% of the fund+88%
- Larimar TherapeuticsLRMR<0.1% of the fund+71%
Cut
Sold some of their stake.
- NateraNTRA2.3% of the fund-20%
- Cogent BiosciencesCOGT0.8% of the fund-58%
- Hinge HealthHNGE0.4% of the fund-74%
- Beta BionicsBBNX0.2% of the fund-25%
- HeartflowHTFL<0.1% of the fund-40%
- Avalo TherapeuticsAVTX<0.1% of the fund-80%
- ExagenXGN<0.1% of the fund-51%
Sold out
Sold their entire stake.
- Apogee TherapeuticsAPGE-100%
- Apellis Pharmaceuticals-100%
- Intuitive SurgicalISRG-100%
- Centessa Pharmaceuticals-100%
- Crinetics PharmaceuticalsCRNX-100%
- Waystar HoldingWAY-100%
- Arrowhead PharmaceuticalsARWR-100%
- StrykerSYK-100%
- Compass TherapeuticsCMPX-100%
- Fulgent GeneticsFLGT-100%
- Jade BiosciencesJBIO-100%
- InventivaIVA-100%
- Omada HealthOMDA-100%
Holdings
- Argenx SEARGX
- Share
- 5.6%
- Value
- $658m
- Shares
- 709,446
Held
- Kailera TherapeuticsKLRA
- Share
- 2.0%
- Value
- $237m
- Shares
- 10,776,820
New
- Immunocore HldgsIMCR
- Share
- 1.3%
- Value
- $155m
- Shares
- 4,869,798
Held
- ZAI LABZLAB
- Share
- 1.1%
- Value
- $125m
- Shares
- 6,574,032
Held
- Belite BIOBLTE
- Share
- 0.9%
- Value
- $110m
- Shares
- 715,332
Held
- Structure TherapeuticsGPCR
- Share
- 0.7%
- Value
- $86m
- Shares
- 1,607,507
New
- AtaiBeckleyATAI
- Share
- <0.1%
- Value
- $11m
- Shares
- 2,000,000
Held
- Abivax SAABVX
- Share
- <0.1%
- Value
- $4m
- Shares
- 26,400
New
- Rocket Pharmaceuticals
- Share
- <0.1%
- Value
- $1,190
- Shares
- 350,000
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Madrigal PharmaceuticalsMDGL | 9.1% | $1.1bn | 1,993,687 | Held |
| Argenx SEARGX | 5.6% | $658m | 709,446 | Held |
| PTC TherapeuticsPTCT | 5.4% | $632m | 7,746,415 | Held |
| Protagonist TherapeuticsPTGX | 5.3% | $620m | 5,061,175 | Held |
| CG OncologyCGON | 5.2% | $605m | 8,514,590 | +22% |
| InsmedINSM | 4.4% | $516m | 4,842,880 | Held |
| Tango TherapeuticsTNGX | 3.7% | $435m | 13,900,620 | +5% |
| Spyre TherapeuticsSYRE | 3.2% | $377m | 4,251,996 | Held |
| CelcuityCELC | 3.0% | $346m | 3,304,903 | +9% |
| ErascaERAS | 2.8% | $329m | 17,946,754 | +11% |
| RadNetRDNT | 2.6% | $299m | 4,846,958 | +13% |
| Oruka TherapeuticsORKA | 2.6% | $299m | 3,139,030 | +53% |
| NateraNTRA | 2.3% | $271m | 1,000,000 | -20% |
| Ultragenyx PharmaceuticalRARE | 2.2% | $260m | 7,796,895 | +114% |
| iRhythm HoldingsIRTC | 2.2% | $260m | 2,182,631 | +31% |
| CytokineticsCYTK | 2.1% | $244m | 2,862,003 | +5% |
| Kailera TherapeuticsKLRA | 2.0% | $237m | 10,776,820 | New |
| Establishment Labs HoldingsESTA | 1.9% | $228m | 2,655,695 | Held |
| Guardant HealthGH | 1.9% | $222m | 1,481,033 | Held |
| Neurocrine BiosciencesNBIX | 1.8% | $214m | 1,267,925 | +19% |
| Tarsus PharmaceuticalsTARS | 1.8% | $211m | 3,357,059 | Held |
| Stoke TherapeuticsSTOK | 1.6% | $184m | 5,623,525 | Held |
| uniQureQURE | 1.5% | $182m | 3,941,572 | +52% |
| Acadia PharmaceuticalsACAD | 1.5% | $181m | 7,144,524 | Held |
| RepligenRGEN | 1.4% | $169m | 1,240,637 | +3% |
| UroGen PharmaURGN | 1.4% | $167m | 4,543,895 | Held |
| GH ResearchGHRS | 1.4% | $160m | 5,933,815 | Held |
| Immunocore HldgsIMCR | 1.3% | $155m | 4,869,798 | Held |
| COMPASS PathwaysCMPS | 1.3% | $151m | 10,700,974 | Held |
| ImmaticsIMTX | 1.1% | $131m | 12,946,176 | Held |
| ZAI LABZLAB | 1.1% | $125m | 6,574,032 | Held |
| ImmunovantIMVT | 1.0% | $122m | 3,177,849 | Held |
| Belite BIOBLTE | 0.9% | $110m | 715,332 | Held |
| XencorXNCR | 0.9% | $109m | 6,777,461 | Held |
| Taysha Gene TherapiesTSHA | 0.8% | $92m | 13,560,258 | Held |
| Cogent BiosciencesCOGT | 0.8% | $89m | 2,309,021 | -58% |
| Alkermes plc.ALKS | 0.7% | $88m | 1,672,356 | Held |
| Structure TherapeuticsGPCR | 0.7% | $86m | 1,607,507 | New |
| Replimune GroupREPL | 0.7% | $82m | 7,411,581 | Held |
| Castle BiosciencesCSTL | 0.6% | $66m | 2,778,335 | Held |
| Candel TherapeuticsCADL | 0.6% | $66m | 6,422,018 | Held |
| Rocket PharmaceuticalsRCKT | 0.5% | $60m | 17,687,772 | Held |
| Kodiak SciencesKOD | 0.5% | $58m | 1,487,934 | Held |
| Aktis OncologyAKTS | 0.4% | $51m | 1,592,043 | Held |
| AxogenAXGN | 0.4% | $47m | 1,011,576 | New |
| DanaherDHR | 0.4% | $44m | 230,000 | New |
| Cullinan TherapeuticsCGEM | 0.4% | $43m | 2,364,347 | +39% |
| NeurogeneNGNE | 0.4% | $43m | 1,362,456 | Held |
| Hinge HealthHNGE | 0.4% | $42m | 500,000 | -74% |
| Orchestra BioMed HoldingsOBIO | 0.4% | $41m | 9,556,063 | +15% |
| Solid BiosciencesSLDB | 0.3% | $39m | 3,892,926 | New |
| SavaraSVRA | 0.3% | $37m | 5,952,380 | Held |
| Aquestive TherapeuticsAQST | 0.3% | $31m | 7,426,471 | Held |
| Kymera TherapeuticsKYMR | 0.2% | $28m | 240,000 | Held |
| VerastemVSTM | 0.2% | $25m | 6,635,793 | Held |
| Dianthus TherapeuticsDNTH | 0.2% | $24m | 248,063 | Held |
| Beta BionicsBBNX | 0.2% | $24m | 1,500,000 | -25% |
| Century TherapeuticsIPSC | 0.2% | $21m | 8,695,652 | Held |
| EvommuneEVMN | 0.2% | $20m | 1,502,235 | Held |
| Beam TherapeuticsBEAM | 0.2% | $20m | 570,394 | Held |
| Definium TherapeuticsDFTX | 0.2% | $19m | 400,000 | +33% |
| IDEAYA BiosciencesIDYA | 0.1% | $14m | 370,370 | New |
| AtaiBeckleyATAI | <0.1% | $11m | 2,000,000 | Held |
| Milestone PharmaceuticalsMIST | <0.1% | $10m | 7,833,336 | +24% |
| OcugenOCGN | <0.1% | $10m | 6,666,666 | Held |
| Tenax TherapeuticsTENX | <0.1% | $10m | 696,570 | +88% |
| HeartflowHTFL | <0.1% | $9m | 295,000 | -40% |
| FreenomeFRNM | <0.1% | $8m | 742,500 | Held |
| Wave Life SciencesWVE | <0.1% | $8m | 1,350,000 | Held |
| Larimar TherapeuticsLRMR | <0.1% | $8m | 2,565,999 | +71% |
| Lumexa Imaging HoldingsLMRI | <0.1% | $7m | 650,000 | Held |
| Allogene TherapeuticsALLO | <0.1% | $7m | 3,250,000 | New |
| Crescent BiopharmaCBIO | <0.1% | $7m | 372,856 | Held |
| 4D Molecular TherapeuticsFDMT | <0.1% | $6m | 475,737 | Held |
| Maze TherapeuticsMAZE | <0.1% | $6m | 212,000 | New |
| Capricor TherapeuticsCAPR | <0.1% | $6m | 250,000 | Held |
| Kalaris TherapeuticsKLRS | <0.1% | $5m | 1,300,000 | Held |
| Abivax SAABVX | <0.1% | $4m | 26,400 | New |
| Avalo TherapeuticsAVTX | <0.1% | $3m | 175,000 | -80% |
| MedlineMDLN | <0.1% | $3m | 70,000 | Held |
| Disc MedicineIRON | <0.1% | $2m | 30,000 | Held |
| ImageneBioIMA | <0.1% | $2m | 334,445 | Held |
| ExagenXGN | <0.1% | $906,750 | 195,000 | -51% |
| Rocket Pharmaceuticals | <0.1% | $1,190 | 350,000 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 66.8% since 30 June 2025.
Where the money is
Health care89.9%
Technology0.4%
Other9.7%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.