RTW INVESTMENTS, LP

CIK

1493215

Location

NEW YORK, NY

Portfolio Value

Large $10,049,745,359

Diversification

Diversified

Filing Date

Global Rank

#414 / 8,603 ▲ 10 · as of Mar 2026

Top Industry

Biotechnology 82.2%

3Y Alpha vs SPY

-4.1%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+56.4%

SPY

+76.5%

Annualised alpha

-4.8%

Max drawdown

−29.2%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

87 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

10.4%

−1.2 pts

Top 5

34.0%

−2.0 pts

Top 10

50.0%

−0.3 pts

HHI

373

Diversified−20

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	99.9%	$10,041,600,134	86
Financial Services	0.1%	$8,145,225	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
ERAS	Erasca, Inc.	+16,010,524	16,157,175	$261,423,091
TNGX	Tango Therapeutics, Inc.	+11,809,392	13,300,620	$278,248,970
CGON	CG Oncology, Inc.	+4,972,681	6,984,808	$472,731,805
MIST	Milestone Pharmaceuticals Inc.	+3,824,899	6,331,001	$7,533,891
CELC	Celcuity Inc.	+2,489,461	3,039,621	$346,942,340
CMPS	COMPASS Pathways plc	+1,875,000	10,632,390	$58,797,116
CMPX	Compass Therapeutics, Inc.	+1,686,599	4,186,599	$22,147,108
HNGE	Hinge Health, Inc.	+1,576,500	1,930,000	$74,420,800
IMTX	Immatics N.V.	+1,435,986	12,869,340	$126,634,305
AQST	Aquestive Therapeutics, Inc.	+1,176,471	7,426,471	$30,819,854
RARE	Ultragenyx Pharmaceutical Inc.	+648,656	3,648,795	$76,442,255
CSTL	Castle Biosciences Inc	+643,098	2,758,335	$67,717,124
FLGT	Fulgent Genetics, Inc.	+583,973	1,289,000	$20,495,100
IRTC	iRhythm Holdings, Inc.	+486,510	1,668,500	$196,916,370
RDNT	RadNet, Inc.	+346,500	4,285,000	$239,488,650
CNTA	Centessa Pharmaceuticals plc	+263,338	2,054,175	$81,591,831
EVMN	Evommune, Inc.	+218,564	1,502,235	$34,536,382
REPL	Replimune Group, Inc.	+216,564	7,356,916	$56,280,407
RGEN	Repligen Corp	+142,000	1,206,000	$142,090,920
ISRG	Intuitive Surgical Inc	+118,772	220,000	$101,417,800
CRNX	Crinetics Pharmaceuticals, Inc.	+100,000	1,451,326	$52,712,160
STOK	Stoke Therapeutics, Inc.	+76,669	5,623,525	$183,101,974
APGE	Apogee Therapeutics, Inc.	+70,000	2,782,097	$234,169,104
ESTA	Establishment Labs Holdings Inc.	+66,864	2,655,695	$150,790,362
ARGX	Argenx SE	+35,949	709,446	$518,072,941
No positions match the current search.

Trimmed

Positions the filer reduced

13 positions

Ticker	Company	Δ Shares	Shares	Value
APLS	Apellis Pharmaceuticals, Inc.	−3,981,719	3,685,045	$148,249,360
TSHA	Taysha Gene Therapies, Inc.	−2,718,049	13,680,248	$61,150,708
COGT	Cogent Biosciences, Inc.	−2,133,566	5,458,675	$210,104,400
LRMR	Larimar Therapeutics, Inc.	−1,625,000	1,500,000	$6,750,000
QURE	uniQure N.V.	−1,125,106	2,586,356	$42,286,920
JBIO	Jade Biosciences, Inc.	−876,068	573,205	$8,053,530
BBNX	Beta Bionics, Inc.	−500,000	2,000,000	$20,040,000
XGN	Exagen Inc.	−395,231	395,231	$1,185,693
ZLAB	Zai Lab Ltd	−385,000	6,574,032	$123,657,541
NTRA	Natera, Inc.	−250,000	1,250,000	$249,987,500
SYK	Stryker Corp	−145,000	100,000	$32,859,000
TENX	Tenax Therapeutics, Inc.	−8,100	370,246	$5,920,233
IMVT	Immunovant, Inc.	−1	3,177,849	$78,937,769
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
WAY	Waystar Holding Corp.	1,630,000	$39,299,300
CADL	Candel Therapeutics, Inc.	6,422,018	$31,467,888
AKTS	Aktis Oncology, Inc.	1,592,043	$28,481,649
DNTH	Dianthus Therapeutics, Inc. /DE/	248,063	$20,817,446
IPSC	Century Therapeutics, Inc.	8,695,652	$19,652,173
AVTX	Avalo Therapeutics, Inc.	856,962	$12,794,442
OCGN	Ocugen, Inc.	6,666,666	$12,066,665
ATAI	AtaiBeckley Inc.	2,000,000	$7,080,000
DFTX	Definium Therapeutics, Inc.	300,000	$5,670,000
No positions match the current search.

Sold Out

Positions the filer fully exited

9 positions

Ticker	Company	Shares	Value
PEN	Penumbra Inc	866,499	$269,403,204
AXSM	Axsome Therapeutics, Inc.	888,001	$162,184,502
ALUR	Allurion Technologies, Inc.	5,891,430	$108,696,883
PODD	Insulet Corp	324,600	$92,264,304
MASI	Masimo Corp	683,294	$88,869,217
TEM	Tempus AI, Inc.	200,000	$11,810,000
IQV	Iqvia Holdings Inc.	46,000	$10,368,860
GPCR	Structure Therapeutics Inc.	100,000	$6,955,000
CRVS	Corvus Pharmaceuticals, Inc.	447,607	$3,446,573
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

87 positions · $10,049,745,359 total · as of Mar 31, 2026

All sectors Financial Services Healthcare

Showing 1–50 of 87 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MDGL	Madrigal Pharmaceuticals, Inc. Healthcare	Held	1,993,687	0	$1,043,635,333	−10.1%	10.38%
INSM	INSMED Inc Healthcare	Added	4,842,880	+1	$791,907,737	−6.0%	7.88%
PTGX	Protagonist Therapeutics, Inc Healthcare	Held	5,059,053	0	$533,224,186	+20.7%	5.31%
PTCT	Ptc Therapeutics, Inc. Healthcare	Held	7,746,415	0	$527,763,253	−10.3%	5.25%
ARGX	Argenx SE Healthcare	Added	709,446	+35,949	$518,072,941	−8.5%	5.16%
CGON	CG Oncology, Inc. Healthcare	Added	6,984,808	+4,972,681	$472,731,805	+465.9%	4.70%
CELC	Celcuity Inc. Healthcare	Added	3,039,621	+2,489,461	$346,942,340	+532.3%	3.45%
TNGX	Tango Therapeutics, Inc. Healthcare	Added	13,300,620	+11,809,392	$278,248,970	+2006.0%	2.77%
ERAS	Erasca, Inc. Healthcare	Added	16,157,175	+16,010,524	$261,423,091	+47820.0%	2.60%
NTRA	Natera, Inc. Healthcare	Reduced	1,250,000	-250,000	$249,987,500	−27.3%	2.49%
RDNT	RadNet, Inc. Healthcare	Added	4,285,000	+346,500	$239,488,650	−14.8%	2.38%
TARS	Tarsus Pharmaceuticals, Inc. Healthcare	Added	3,346,025	+10,705	$234,723,653	−14.1%	2.34%
APGE	Apogee Therapeutics, Inc. Healthcare	Added	2,782,097	+70,000	$234,169,104	+14.4%	2.33%
SYRE	Spyre Therapeutics, Inc. Healthcare	Held	4,171,996	0	$210,435,478	+54.0%	2.09%
COGT	Cogent Biosciences, Inc. Healthcare	Reduced	5,458,675	-2,133,566	$210,104,400	−22.1%	2.09%
IRTC	iRhythm Holdings, Inc. Healthcare	Added	1,668,500	+486,510	$196,916,370	−6.1%	1.96%
STOK	Stoke Therapeutics, Inc. Healthcare	Added	5,623,525	+76,669	$183,101,974	+4.0%	1.82%
CYTK	Cytokinetics Inc Healthcare	Held	2,721,158	0	$179,351,523	+3.7%	1.78%
ACAD	Acadia Pharmaceuticals Inc Healthcare	Held	7,144,524	0	$159,037,104	−16.7%	1.58%
ESTA	Establishment Labs Holdings Inc. Healthcare	Added	2,655,695	+66,864	$150,790,362	−20.1%	1.50%
APLS	Apellis Pharmaceuticals, Inc. Healthcare	Reduced	3,685,045	-3,981,719	$148,249,360	−23.0%	1.48%
IMCR	Immunocore Holdings plc Healthcare	Held	4,869,798	0	$146,824,409	−13.1%	1.46%
RGEN	Repligen Corp Healthcare	Added	1,206,000	+142,000	$142,090,920	−18.5%	1.41%
NBIX	Neurocrine Biosciences Inc Healthcare	Held	1,062,072	0	$139,917,365	−7.1%	1.39%
GH	Guardant Health, Inc. Healthcare	Held	1,481,033	0	$136,803,018	−9.6%	1.36%
IMTX	Immatics N.V. Healthcare	Added	12,869,340	+1,435,986	$126,634,305	+5.5%	1.26%
ZLAB	Zai Lab Ltd Healthcare	Reduced	6,574,032	-385,000	$123,657,541	+0.7%	1.23%
BLTE	Belite Bio, Inc Healthcare	Held	715,332	0	$114,052,534	−0.3%	1.13%
ISRG	Intuitive Surgical Inc Healthcare	Added	220,000	+118,772	$101,417,800	+76.9%	1.01%
ORKA	Oruka Therapeutics, Inc. Healthcare	Held	2,058,148	0	$100,952,159	+61.8%	1.00%
GHRS	GH Research PLC Healthcare	Held	5,933,815	0	$83,429,438	+10.7%	0.83%
XNCR	Xencor Inc Healthcare	Held	6,777,461	0	$81,736,179	−21.2%	0.81%
URGN	UroGen Pharma Ltd. Healthcare	Held	4,543,895	0	$81,699,232	−23.2%	0.81%
CNTA	Centessa Pharmaceuticals plc Healthcare	Added	2,054,175	+263,338	$81,591,831	+82.2%	0.81%
IMVT	Immunovant, Inc. Healthcare	Reduced	3,177,849	-1	$78,937,769	−2.3%	0.79%
RARE	Ultragenyx Pharmaceutical Inc. Healthcare	Added	3,648,795	+648,656	$76,442,255	+10.8%	0.76%
HNGE	Hinge Health, Inc. Healthcare	Added	1,930,000	+1,576,500	$74,420,800	+353.2%	0.74%
CSTL	Castle Biosciences Inc Healthcare	Added	2,758,335	+643,098	$67,717,124	−17.7%	0.67%
RCKT	Rocket Pharmaceuticals, Inc. Healthcare	Held	17,687,772	0	$63,322,223	+2.0%	0.63%
TSHA	Taysha Gene Therapies, Inc. Healthcare	Reduced	13,680,248	-2,718,049	$61,150,708	−32.2%	0.61%
ALKS	Alkermes plc. Healthcare	Held	1,672,356	0	$59,134,508	+26.4%	0.59%
CMPS	COMPASS Pathways plc Healthcare	Added	10,632,390	+1,875,000	$58,797,116	−2.7%	0.59%
KOD	Kodiak Sciences Inc. Healthcare	Added	1,487,934	+1	$56,720,044	+36.3%	0.56%
REPL	Replimune Group, Inc. Healthcare	Added	7,356,916	+216,564	$56,280,407	−18.9%	0.56%
CRNX	Crinetics Pharmaceuticals, Inc. Healthcare	Added	1,451,326	+100,000	$52,712,160	−16.2%	0.52%
QURE	uniQure N.V. Healthcare	Reduced	2,586,356	-4,836,568	$42,286,920	−76.2%	0.42%
WAY	Waystar Holding Corp. Healthcare	NEW	1,630,000	NEW	$39,299,300	NEW	0.39%
ARWR	Arrowhead Pharmaceuticals, Inc. Healthcare	Added	585,682	+966	$36,722,261	−5.4%	0.37%
OBIO	Orchestra BioMed Holdings, Inc. Healthcare	Held	8,306,063	0	$35,300,767	+2.4%	0.35%
VSTM	Verastem, Inc. Healthcare	Held	6,576,306	0	$34,854,421	−31.3%	0.35%