Darwin Global Management, Ltd.
CIK
1839209
Location
ST. HELIER, Y9
Portfolio Value
Mid
$4,703,336,969
Diversification
Highly concentrated
Filing Date
Global Rank
#607
/ 8,420
▲ 230
Top Industry
Biotechnology
100.0%
3Y Alpha vs SPY
-24.9%
Period ended 6 months ago
Filed Feb 17, 2026 · 4mo
18 quarters · since Dec 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
-11.7%
SPY
+76.3%
Annualised alpha
-24.9%
Max drawdown
−51.2%
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
5 positions · as of Dec 31, 2025 · Δ vs Sep 30, 2025Top Position
77.5%
−5.5 pts
Top 5
100.0%
0.0 pts
Top 10
100.0%
0.0 pts
HHI
6,196
Highly concentrated−819
Portfolio Trend
18 quarters · across all stocks
Sector Breakdown
As of Dec 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 100.0% | $4,703,336,969 |
Last Quarter's Activity
Export CSVTrimmed
Positions the filer reducedNo qualifying positions this quarter.
5 positions ·
$4,703,336,969 total
· as of Dec 31, 2025
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| INSM |
INSMED Inc
Healthcare
|
Reduced | 20,933,277 | $3,643,227,529 | 77.46% | |
| BLTE |
Belite Bio, Inc
Healthcare
|
NEW | 3,027,704 | $484,311,531 | 10.30% | |
| ABVX |
Abivax S.A.
Healthcare
|
Added | 3,178,501 | $428,636,752 | 9.11% | |
| WVE |
Wave Life Sciences Ltd.
Healthcare
|
NEW | 7,298,421 | $124,073,157 | 2.64% | |
| CAPR |
Capricor Therapeutics, Inc.
Healthcare
|
NEW | 800,000 | $23,088,000 | 0.49% |