# RTW INVESTMENTS, LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1493215. Source: https://holderbook.com/funds/1493215-rtw-investments-lp/

- Reported value: $11.7B
- Positions: 84
- Weight of the ten largest: 47.7%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MADRIGAL PHARMACEUTICALS INC | [MDGL](https://holderbook.com/stocks/MDGL/) | $1.1B | 1,993,687 | 9.1% | 13 |
| ARGENX SE | [ARGX](https://holderbook.com/stocks/ARGX/) | $658.2M | 709,446 | 5.6% | 31 |
| PTC THERAPEUTICS INC | [PTCT](https://holderbook.com/stocks/PTCT/) | $631.9M | 7,746,415 | 5.4% | 31 |
| PROTAGONIST THERAPEUTICS INC | [PTGX](https://holderbook.com/stocks/PTGX/) | $620.4M | 5,061,175 | 5.3% | 28 |
| CG ONCOLOGY INC | [CGON](https://holderbook.com/stocks/CGON/) | $605.0M | 8,514,590 | 5.2% | 10 |
| INSMED INC | [INSM](https://holderbook.com/stocks/INSM/) | $516.3M | 4,842,880 | 4.4% | 13 |
| TANGO THERAPEUTICS INC | [TNGX](https://holderbook.com/stocks/TNGX/) | $434.5M | 13,900,620 | 3.7% | 3 |
| SPYRE THERAPEUTICS INC | [SYRE](https://holderbook.com/stocks/SYRE/) | $377.5M | 4,251,996 | 3.2% | 11 |
| CELCUITY INC | [CELC](https://holderbook.com/stocks/CELC/) | $345.8M | 3,304,903 | 3.0% | 3 |
| ERASCA INC | [ERAS](https://holderbook.com/stocks/ERAS/) | $328.8M | 17,946,754 | 2.8% | 3 |
| RADNET INC | [RDNT](https://holderbook.com/stocks/RDNT/) | $298.9M | 4,846,958 | 2.6% | 11 |
| ORUKA THERAPEUTICS INC | [ORKA](https://holderbook.com/stocks/ORKA/) | $298.7M | 3,139,030 | 2.6% | 8 |
| NATERA INC | [NTRA](https://holderbook.com/stocks/NTRA/) | $271.4M | 1,000,000 | 2.3% | 28 |
| ULTRAGENYX PHARMACEUTICAL IN | [RARE](https://holderbook.com/stocks/RARE/) | $260.3M | 7,796,895 | 2.2% | 19 |
| IRHYTHM HOLDINGS INC | [IRTC](https://holderbook.com/stocks/IRTC/) | $259.6M | 2,182,631 | 2.2% | 3 |
| CYTOKINETICS INC | [CYTK](https://holderbook.com/stocks/CYTK/) | $243.8M | 2,862,003 | 2.1% | 24 |
| KAILERA THERAPEUTICS INC | [KLRA](https://holderbook.com/stocks/KLRA/) | $237.4M | 10,776,820 | 2.0% | 1 |
| ESTABLISHMENT LABS HLDGS INC | [ESTA](https://holderbook.com/stocks/ESTA/) | $227.9M | 2,655,695 | 1.9% | 31 |
| GUARDANT HEALTH INC | [GH](https://holderbook.com/stocks/GH/) | $222.2M | 1,481,033 | 1.9% | 5 |
| NEUROCRINE BIOSCIENCES INC | [NBIX](https://holderbook.com/stocks/NBIX/) | $213.7M | 1,267,925 | 1.8% | 5 |
| TARSUS PHARMACEUTICALS INC | [TARS](https://holderbook.com/stocks/TARS/) | $211.3M | 3,357,059 | 1.8% | 23 |
| STOKE THERAPEUTICS INC | [STOK](https://holderbook.com/stocks/STOK/) | $184.0M | 5,623,525 | 1.6% | 29 |
| UNIQURE NV | [QURE](https://holderbook.com/stocks/QURE/) | $181.5M | 3,941,572 | 1.5% | 8 |
| ACADIA PHARMACEUTICALS INC | [ACAD](https://holderbook.com/stocks/ACAD/) | $180.8M | 7,144,524 | 1.5% | 17 |
| REPLIGEN CORP | [RGEN](https://holderbook.com/stocks/RGEN/) | $169.3M | 1,240,637 | 1.4% | 3 |
| UROGEN PHARMA LTD | [URGN](https://holderbook.com/stocks/URGN/) | $167.2M | 4,543,895 | 1.4% | 20 |
| GH RESEARCH PLC | [GHRS](https://holderbook.com/stocks/GHRS/) | $159.5M | 5,933,815 | 1.4% | 21 |
| IMMUNOCORE HLDGS PLC | [IMCR](https://holderbook.com/stocks/IMCR/) | $154.6M | 4,869,798 | 1.3% | 22 |
| COMPASS PATHWAYS PLC | [CMPS](https://holderbook.com/stocks/CMPS/) | $151.4M | 10,700,974 | 1.3% | 7 |
| IMMATICS N.V | [IMTX](https://holderbook.com/stocks/IMTX/) | $131.1M | 12,946,176 | 1.1% | 24 |
| ZAI LAB LTD | [ZLAB](https://holderbook.com/stocks/ZLAB/) | $124.9M | 6,574,032 | 1.1% | 7 |
| IMMUNOVANT INC | [IMVT](https://holderbook.com/stocks/IMVT/) | $122.4M | 3,177,849 | 1.0% | 3 |
| BELITE BIO INC | [BLTE](https://holderbook.com/stocks/BLTE/) | $110.2M | 715,332 | 0.9% | 4 |
| XENCOR INC | [XNCR](https://holderbook.com/stocks/XNCR/) | $109.1M | 6,777,461 | 0.9% | 8 |
| TAYSHA GENE THERAPIES INC | [TSHA](https://holderbook.com/stocks/TSHA/) | $92.3M | 13,560,258 | 0.8% | 12 |
| COGENT BIOSCIENCES INC | [COGT](https://holderbook.com/stocks/COGT/) | $89.4M | 2,309,021 | 0.8% | 4 |
| ALKERMES PLC | [ALKS](https://holderbook.com/stocks/ALKS/) | $87.6M | 1,672,356 | 0.7% | 12 |
| STRUCTURE THERAPEUTICS INC | [GPCR](https://holderbook.com/stocks/GPCR/) | $86.3M | 1,607,507 | 0.7% | 1 |
| REPLIMUNE GROUP INC | [REPL](https://holderbook.com/stocks/REPL/) | $82.0M | 7,411,581 | 0.7% | 9 |
| CASTLE BIOSCIENCES INC | [CSTL](https://holderbook.com/stocks/CSTL/) | $66.3M | 2,778,335 | 0.6% | 3 |
| CANDEL THERAPEUTICS INC | [CADL](https://holderbook.com/stocks/CADL/) | $66.1M | 6,422,018 | 0.6% | 2 |
| ROCKET PHARMACEUTICALS INC | [RCKT](https://holderbook.com/stocks/RCKT/) | $60.5M | 17,687,772 | 0.5% | 31 |
| KODIAK SCIENCES INC | [KOD](https://holderbook.com/stocks/KOD/) | $58.0M | 1,487,934 | 0.5% | 3 |
| AKTIS ONCOLOGY INC | [AKTS](https://holderbook.com/stocks/AKTS/) | $51.3M | 1,592,043 | 0.4% | 2 |
| AXOGEN INC | [AXGN](https://holderbook.com/stocks/AXGN/) | $46.7M | 1,011,576 | 0.4% | 1 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $43.8M | 230,000 | 0.4% | 1 |
| CULLINAN THERAPEUTICS INC | [CGEM](https://holderbook.com/stocks/CGEM/) | $43.1M | 2,364,347 | 0.4% | 9 |
| NEUROGENE INC | [NGNE](https://holderbook.com/stocks/NGNE/) | $42.8M | 1,362,456 | 0.4% | 10 |
| HINGE HEALTH INC | [HNGE](https://holderbook.com/stocks/HNGE/) | $41.5M | 500,000 | 0.4% | 3 |
| ORCHESTRA BIOMED HLDGS INC | [OBIO](https://holderbook.com/stocks/OBIO/) | $41.2M | 9,556,063 | 0.4% | 14 |
| SOLID BIOSCIENCES INC | [SLDB](https://holderbook.com/stocks/SLDB/) | $38.9M | 3,892,926 | 0.3% | 1 |
| SAVARA INC | [SVRA](https://holderbook.com/stocks/SVRA/) | $36.7M | 5,952,380 | 0.3% | 3 |
| AQUESTIVE THERAPEUTICS INC | [AQST](https://holderbook.com/stocks/AQST/) | $30.9M | 7,426,471 | 0.3% | 4 |
| KYMERA THERAPEUTICS INC | [KYMR](https://holderbook.com/stocks/KYMR/) | $27.5M | 240,000 | 0.2% | 3 |
| VERASTEM INC | [VSTM](https://holderbook.com/stocks/VSTM/) | $25.3M | 6,635,793 | 0.2% | 6 |
| DIANTHUS THERAPEUTICS INC | [DNTH](https://holderbook.com/stocks/DNTH/) | $24.2M | 248,063 | 0.2% | 2 |
| BETA BIONICS INC | [BBNX](https://holderbook.com/stocks/BBNX/) | $23.5M | 1,500,000 | 0.2% | 6 |
| CENTURY THERAPEUTICS INC | [IPSC](https://holderbook.com/stocks/IPSC/) | $21.3M | 8,695,652 | 0.2% | 2 |
| EVOMMUNE INC | [EVMN](https://holderbook.com/stocks/EVMN/) | $20.0M | 1,502,235 | 0.2% | 3 |
| BEAM THERAPEUTICS INC | [BEAM](https://holderbook.com/stocks/BEAM/) | $19.6M | 570,394 | 0.2% | 3 |
| DEFINIUM THERAPEUTICS INC | [DFTX](https://holderbook.com/stocks/DFTX/) | $18.8M | 400,000 | 0.2% | 2 |
| IDEAYA BIOSCIENCES INC | [IDYA](https://holderbook.com/stocks/IDYA/) | $13.8M | 370,370 | 0.1% | 1 |
| ATAIBECKLEY INC | [ATAI](https://holderbook.com/stocks/ATAI/) | $10.5M | 2,000,000 | 0.1% | 2 |
| MILESTONE PHARMACEUTICALS IN | [MIST](https://holderbook.com/stocks/MIST/) | $10.5M | 7,833,336 | 0.1% | 29 |
| OCUGEN INC | [OCGN](https://holderbook.com/stocks/OCGN/) | $10.2M | 6,666,666 | 0.1% | 2 |
| TENAX THERAPEUTICS INC | [TENX](https://holderbook.com/stocks/TENX/) | $10.1M | 696,570 | 0.1% | 6 |
| HEARTFLOW INC | [HTFL](https://holderbook.com/stocks/HTFL/) | $8.7M | 295,000 | 0.1% | 4 |
| PERCEPTIVE CAP SOLUTIONS COR | [PCSC](https://holderbook.com/stocks/PCSC/) | $8.1M | 742,500 | 0.1% | 9 |
| WAVE LIFE SCIENCES LTD | [WVE](https://holderbook.com/stocks/WVE/) | $7.8M | 1,350,000 | 0.1% | 8 |
| LARIMAR THERAPEUTICS INC | [LRMR](https://holderbook.com/stocks/LRMR/) | $7.8M | 2,565,999 | 0.1% | 4 |
| LUMEXA IMAGING HOLDINGS INC | [LMRI](https://holderbook.com/stocks/LMRI/) | $7.3M | 650,000 | 0.1% | 3 |
| ALLOGENE THERAPEUTICS INC | [ALLO](https://holderbook.com/stocks/ALLO/) | $6.8M | 3,250,000 | 0.1% | 1 |
| CRESCENT BIOPHARMA INC. | [CBIO](https://holderbook.com/stocks/CBIO/) | $6.7M | 372,856 | 0.1% | 3 |
| 4D MOLECULAR THERAPEUTICS IN | [FDMT](https://holderbook.com/stocks/FDMT/) | $6.3M | 475,737 | 0.1% | 3 |
| MAZE THERAPEUTICS INC | [MAZE](https://holderbook.com/stocks/MAZE/) | $6.3M | 212,000 | 0.1% | 1 |
| CAPRICOR THERAPEUTICS INC | [CAPR](https://holderbook.com/stocks/CAPR/) | $6.0M | 250,000 | 0.1% | 3 |
| KALARIS THERAPEUTICS INC | [KLRS](https://holderbook.com/stocks/KLRS/) | $5.3M | 1,300,000 | 0.0% | 3 |
| ABIVAX SA | [ABVX](https://holderbook.com/stocks/ABVX/) | $3.5M | 26,400 | 0.0% | 1 |
| AVALO THERAPEUTICS INC | [AVTX](https://holderbook.com/stocks/AVTX/) | $3.2M | 175,000 | 0.0% | 2 |
| MEDLINE INC | [MDLN](https://holderbook.com/stocks/MDLN/) | $2.8M | 70,000 | 0.0% | 3 |
| DISC MEDICINE INC | [IRON](https://holderbook.com/stocks/IRON/) | $2.2M | 30,000 | 0.0% | 3 |
| IMAGENEBIO INC | [IMA](https://holderbook.com/stocks/IMA/) | $2.0M | 334,445 | 0.0% | 4 |
| EXAGEN INC | [XGN](https://holderbook.com/stocks/XGN/) | $906.8K | 195,000 | 0.0% | 28 |
| ROCKET PHARMACEUTICALS INC | [RCKTW](https://holderbook.com/stocks/RCKTW/) | $1.2K | 350,000 | 0.0% | 14 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +17.8% | +14.8% | +2.9% | 98% |
| Q1 2026 | -4.6% | -4.6% | +0.0% | 99% |
| Q4 2025 | +23.2% | +2.4% | +20.8% | 97% |
| Q3 2025 | +25.2% | +7.8% | +17.3% | 100% |
| Q2 2025 | +4.1% | +10.5% | -6.3% | 100% |
| Q1 2025 | -2.7% | -4.6% | +1.8% | 100% |
| Q4 2024 | -3.2% | +2.1% | -5.3% | 100% |
| Q3 2024 | +4.6% | +5.4% | -0.8% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $11.7B | 84 |
| Q1 2026 | $10.0B | 88 |
| Q4 2025 | $10.0B | 91 |
| Q3 2025 | $8.1B | 74 |
| Q2 2025 | $7.0B | 73 |
| Q1 2025 | $6.5B | 68 |
| Q4 2024 | $6.6B | 72 |
| Q3 2024 | $6.9B | 68 |
| Q2 2024 | $6.5B | 68 |
| Q1 2024 | $6.8B | 69 |
| Q4 2023 | $6.4B | 64 |
| Q3 2023 | $4.7B | 67 |