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RTW Investments, LP

CIK 1493215 · latest 13F filed 14 August 2026 · Read the filing on EDGAR

RTW Investments, LP reported 84 US-listed holdings worth $11.71 billion in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Madrigal Pharmaceuticals Inc. (9.1%), argenx SE (5.6%) and PTC Therapeutics, Inc. (5.4%). Against the quarter before, it opened 9 positions, added to 25, trimmed 8 and sold out of 13.

Reported holdings$11.71B+16.5% on Q1 2026
Positions84-4 on Q1 2026
The largest ten47.7%of its reported holdings
Latest 13FQ2 2026filed 14 August 2026
Where the money is
Added toHeldTrimmed
MDGL9.1%ARGX5.6%PTCT5.4%PTGX5.3%CGON5.2%INSM4.4%TNGX3.7%SYRE3.2%CELC3.0%ERAS2.8%RDNT2.6%ORKA2.6%NTRA2.3%RARE2.2%70 more42.6%

The 14 largest of its 84 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.

Reported holdings, quarter by quarter
Q3 2024: $6.91 billion in 68 positions$6.91BQ3 24Q4 2024: $6.61 billion in 72 positions$6.61BQ4 24Q1 2025: $6.54 billion in 68 positions$6.54BQ1 25Q2 2025: $7.02 billion in 73 positions$7.02BQ2 25Q3 2025: $8.12 billion in 74 positions$8.12BQ3 25Q4 2025: $9.98 billion in 91 positions$9.98BQ4 25Q1 2026: $10.05 billion in 88 positions$10.0BQ1 26Q2 2026: $11.71 billion in 84 positions$11.7BQ2 26

What the fund reported holding at each quarter's end; hover a bar for the number of positions

What it did on the quarter

Opened 9Added 25Held 42Trimmed 8Sold out 13
Opened: 9Added: 25Held: 42Trimmed: 8Sold out: 13

Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held

Opened 9

  1. Kailera Therapeutics Inc. KLRA$237.4 million
  2. Structure Therapeutics Inc. GPCR$86.3 million
  3. Axogen Inc. AXGN$46.7 million
  4. Danaher Corp. DHR$43.8 million
  5. Solid Biosciences Inc. SLDB$38.9 million
  6. Ideaya Biosciences Inc. IDYA$13.8 million
  7. Allogene Therapeutics Inc. ALLO$6.8 million
  8. Maze Therapeatics MAZE$6.3 million

and 1 more in the table below

Added to 25

  1. Ultragenyx Pharmaceutical in RARE+4.1 million shares · +114%
  2. CG Oncology Inc. CGON+1.5 million shares · +22%
  3. Oruka Therapeutics Inc. ORKA+1.1 million shares · +53%
  4. Uniqure NV QURE+1.4 million shares · +52%
  5. Irhythm Technologies Inc. IRTC+514,131 shares · +31%
  6. Neurocrine Biosciences Inc. NBIX+205,853 shares · +19%
  7. Radnet Inc. RDNT+561,958 shares · +13%
  8. Erasca Inc. ERAS+1.8 million shares · +11%

and 17 more in the table below

Trimmed 8

  1. Cogent Biosciences Inc. COGT-3.1 million shares · -58%
  2. Hinge Health Inc. HNGE-1.4 million shares · -74%
  3. Natera Inc Com NTRA-250,000 shares · -20%
  4. Avalo Therapeutics Inc. AVTX-681,962 shares · -80%
  5. Beta Bionics Inc BBNX-500,000 shares · -25%
  6. Heartflow Inc. HTFL-200,000 shares · -40%
  7. Exagen Inc. XGN-200,231 shares · -51%
  8. Taysha Gene Therapies Inc. TSHA-119,990 shares · -1%

Sold out of 13

  1. Apogee Therapeutics Inc. APGE$234.2 million last quarter
  2. Apellis Pharmaceuticals Inc. APLS$148.2 million last quarter
  3. Intuitive Surgical Inc. ISRG$101.4 million last quarter
  4. Centessa Pharmaceuticals PLC CNTA$81.6 million last quarter
  5. Crinetics Pharmaceuticals in CRNX$52.7 million last quarter
  6. Waystar Holding Corp. WAY$39.3 million last quarter
  7. Arrowhead Pharmaceuticals, Inc. ARWR$36.7 million last quarter
  8. Stryker Corp. SYK$32.9 million last quarter

What it holds

CompanySharesValueOf its bookChange in shares
Madrigal Pharmaceuticals Inc. MDGL1,993,687$1.07 billion9.14%no change
argenx SE ARGX709,446$658.2 million5.62%no change
PTC Therapeutics, Inc. PTCT7,746,415$631.9 million5.39%no change
Protagonist Therapeutics, Inc. PTGX5,061,175$620.4 million5.30%+2,122
CG Oncology Inc. CGON8,514,590$605.0 million5.16%+1,529,782
Insmed Inc. INSM4,842,880$516.3 million4.41%no change
Tango Therapeutics Inc. TNGX13,900,620$434.5 million3.71%+600,000
Spyre Therapeutics Inc. SYRE4,251,996$377.5 million3.22%+80,000
Celcuity Inc. CELC3,304,903$345.8 million2.95%+265,282
Erasca Inc. ERAS17,946,754$328.8 million2.81%+1,789,579
Radnet Inc. RDNT4,846,958$298.9 million2.55%+561,958
Oruka Therapeutics Inc. ORKA3,139,030$298.7 million2.55%+1,080,882
Natera Inc Com NTRA1,000,000$271.4 million2.32%-250,000
Ultragenyx Pharmaceutical in RARE7,796,895$260.3 million2.22%+4,148,100
Irhythm Technologies Inc. IRTC2,182,631$259.6 million2.22%+514,131
Cytokinetics Inc. CYTK2,862,003$243.8 million2.08%+140,845
Kailera Therapeutics Inc. KLRA10,776,820$237.4 million2.03%new
Establishment Labs Holdings In ESTA2,655,695$227.9 million1.95%no change
Guardant Health Inc. GH1,481,033$222.2 million1.90%no change
Neurocrine Biosciences Inc. NBIX1,267,925$213.7 million1.82%+205,853
Tarsus Pharmaceuticals Inc. TARS3,357,059$211.3 million1.80%+11,034
Stoke Therapeutics Inc. STOK5,623,525$184.0 million1.57%no change
Uniqure NV QURE3,941,572$181.5 million1.55%+1,355,216
Acadia Pharmaceuticals Inc. ACAD7,144,524$180.8 million1.54%no change
Repligen Corp. RGEN1,240,637$169.3 million1.45%+34,637
Urogen Pharma Ltd URGN4,543,895$167.2 million1.43%no change
GH Research PLC GHRS5,933,815$159.5 million1.36%no change
Immunocore Hldgs PLC IMCR4,869,798$154.6 million1.32%no change
Compass Pathways PLC CMPS10,700,974$151.4 million1.29%+68,584
Immatics N.V IMTX12,946,176$131.1 million1.12%+76,836
Zai Lab Limited ZLAB6,574,032$124.9 million1.07%no change
Immunovant Inc. IMVT3,177,849$122.4 million1.05%no change
Belite Bio Inc. BLTE715,332$110.2 million0.94%no change
Xencor Inc. XNCR6,777,461$109.1 million0.93%no change
Taysha Gene Therapies Inc. TSHA13,560,258$92.3 million0.79%-119,990
Cogent Biosciences Inc. COGT2,309,021$89.4 million0.76%-3,149,654
Alkermes plc. ALKS1,672,356$87.6 million0.75%no change
Structure Therapeutics Inc. GPCR1,607,507$86.3 million0.74%new
Replimune Group, Inc. REPL7,411,581$82.0 million0.70%+54,665
Castle Biosciences Inc. CSTL2,778,335$66.3 million0.57%+20,000
Candel Therapeutics Inc. CADL6,422,018$66.1 million0.56%no change
Rocket Pharmaceuticals Inc. RCKT17,687,772$60.5 million0.52%no change
Kodiak Sciences Inc. KOD1,487,934$58.0 million0.49%no change
Aktis Oncology Inc. AKTS1,592,043$51.3 million0.44%no change
Axogen Inc. AXGN1,011,576$46.7 million0.40%new
Danaher Corp. DHR230,000$43.8 million0.37%new
Cullinan Therapeutics Inc. CGEM2,364,347$43.1 million0.37%+658,387
Neurogene Inc. NGNE1,362,456$42.8 million0.37%no change
Hinge Health Inc. HNGE500,000$41.5 million0.35%-1,430,000
Orchestra Biomed Holdings in OBIO9,556,063$41.2 million0.35%+1,250,000
Solid Biosciences Inc. SLDB3,892,926$38.9 million0.33%new
Savara Inc. SVRA5,952,380$36.7 million0.31%no change
Aquestive Therapeutics Inc. AQST7,426,471$30.9 million0.26%no change
Kymera Therapeutics Inc. KYMR240,000$27.5 million0.23%no change
Verastem Inc. VSTM6,635,793$25.3 million0.22%+59,487
Dianthus Therapeutics Inc. DNTH248,063$24.2 million0.21%no change
Beta Bionics Inc BBNX1,500,000$23.5 million0.20%-500,000
Century Therapeutics Inc. IPSC8,695,652$21.3 million0.18%no change
Evommune Inc. EVMN1,502,235$20.0 million0.17%no change
Beam Therapeutics Inc. BEAM570,394$19.6 million0.17%no change
Definium Therapeutics Inc. DFTX400,000$18.8 million0.16%+100,000
Ideaya Biosciences Inc. IDYA370,370$13.8 million0.12%new
Atai Beckley NV ATAI2,000,000$10.5 million0.09%no change
Milestone Pharmaceuticals Inc. (mist) MIST7,833,336$10.5 million0.09%+1,502,335
Ocugen Inc. OCGN6,666,666$10.2 million0.09%no change
Tenax Therapeutics Inc. TENX696,570$10.1 million0.09%+326,324
Heartflow Inc. HTFL295,000$8.7 million0.07%-200,000
Perceptive Cap Solutions Cor PCSC742,500$8.1 million0.07%no change
Wave Life Sciences Ltd WVE1,350,000$7.8 million0.07%no change
Larimar Therapeutics Inc. LRMR2,565,999$7.8 million0.07%+1,065,999
Lumexa Imaging Holdings Inc. LMRI650,000$7.3 million0.06%no change
Allogene Therapeutics Inc. ALLO3,250,000$6.8 million0.06%new
Crescent Biopharma Inc. CBIO372,856$6.7 million0.06%no change
4D Molecular Therapeutics in FDMT475,737$6.3 million0.05%no change
Maze Therapeatics MAZE212,000$6.3 million0.05%new
Capricor Therapeutics Inc. CAPR250,000$6.0 million0.05%no change
Kalaris Therapeutics Inc KLRS1,300,000$5.3 million0.05%no change
Abivax SA ABVX26,400$3.5 million0.03%new
Avalo Therapeutics Inc. AVTX175,000$3.2 million0.03%-681,962
Medline Inc. MDLN70,000$2.8 million0.02%no change
Disc Medicine Inc. IRON30,000$2.2 million0.02%no change
Imagenebio Inc. IMA334,445$2.0 million0.02%no change
Exagen Inc. XGN195,000$906,7500.01%-200,231
Rocket Pharmaceuticals Inc. RCKTW350,000$1,1900.00%no change
Every US-listed position in the fund's 13F for the quarter ended 30 June 2026, by the value it reported.
Read moreChange is shares against its 13F for the quarter before; the 13 it sold out of are in the box above.