RTW Investments, LP reported 81 positions worth $11.69B for the quarter ended Jun 30, 2026, up 22.9% on the prior quarter. It opened 9 new positions, added to 26, trimmed 8 and exited 9. Its largest holding is Madrigal Pharmaceuticals, Inc. at 9.2% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| KLRA Kailera Therapeutics, Inc. | +10.78M | – | $237.41M | 2.03% |
| RARE Ultragenyx Pharmaceutical Inc. | +4.15M | +113.7% | $138.51M | 2.23% |
| CGON CG Oncology, Inc. | +1.53M | +21.9% | $108.69M | 5.17% |
| ORKA Oruka Therapeutics, Inc. | +1.08M | +52.5% | $102.87M | 2.55% |
| GPCR Structure Therapeutics Inc. | +1.61M | – | $86.27M | 0.738% |
| QURE uniQure N.V. | +1.36M | +52.4% | $62.42M | 1.55% |
| IRTC iRhythm Holdings, Inc. | +514.1K | +30.8% | $61.16M | 2.22% |
| AXGN Axogen, Inc. | +1.01M | – | $46.72M | 0.4% |
| DHR Danaher Corp | +230.0K | – | $43.81M | 0.375% |
| SLDB Solid Biosciences Inc. | +3.89M | – | $38.89M | 0.333% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| COGT Cogent Biosciences, Inc. | -3.15M | -57.7% | $121.89M | 0.764% |
| HNGE Hinge Health, Inc. | -1.43M | -74.1% | $118.69M | 0.355% |
| ISRG Intuitive Surgical Inc | -220.0K | -100.0% | $101.42M | Exited |
| NTRA Natera, Inc. | -250.0K | -20.0% | $67.86M | 2.32% |
| WAY Waystar Holding Corp. | -1.63M | -100.0% | $39.30M | Exited |
| ARWR Arrowhead Pharmaceuticals, Inc. | -585.7K | -100.0% | $36.72M | Exited |
| SYK Stryker Corp | -100.0K | -100.0% | $32.86M | Exited |
| CMPX Compass Therapeutics, Inc. | -4.19M | -100.0% | $22.15M | Exited |
| FLGT Fulgent Genetics, Inc. | -1.29M | -100.0% | $20.50M | Exited |
| AVTX Avalo Therapeutics, Inc. | -682.0K | -79.6% | $12.60M | 0.028% |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| KLRA Kailera Therapeutics, Inc. | +10.78M | $237.41M | 2.03% |
| GPCR Structure Therapeutics Inc. | +1.61M | $86.27M | 0.738% |
| AXGN Axogen, Inc. | +1.01M | $46.72M | 0.4% |
| DHR Danaher Corp | +230.0K | $43.81M | 0.375% |
| SLDB Solid Biosciences Inc. | +3.89M | $38.89M | 0.333% |
| IDYA IDEAYA Biosciences, Inc. | +370.4K | $13.80M | 0.118% |
| ALLO Allogene Therapeutics, Inc. | +3.25M | $6.76M | 0.058% |
| MAZE Maze Therapeutics, Inc. | +212.0K | $6.33M | 0.054% |
| ABVX Abivax S.A. | +26.4K | $3.52M | 0.03% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| ISRG Intuitive Surgical Inc | -220.0K | $101.42M | 1.07% |
| WAY Waystar Holding Corp. | -1.63M | $39.30M | 0.413% |
| ARWR Arrowhead Pharmaceuticals, Inc. | -585.7K | $36.72M | 0.386% |
| SYK Stryker Corp | -100.0K | $32.86M | 0.345% |
| CMPX Compass Therapeutics, Inc. | -4.19M | $22.15M | 0.233% |
| FLGT Fulgent Genetics, Inc. | -1.29M | $20.50M | 0.215% |
| JBIO Jade Biosciences, Inc. | -573.2K | $8.05M | 0.085% |
| IVA Inventiva S.A. | -1.30M | $7.21M | 0.076% |
| OMDA Omada Health, Inc. | -200.0K | $2.51M | 0.026% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | MDGL Madrigal Pharmaceuticals, Inc. | Healthcare | 1.99M | $1.07B | 9.15% | 0 | 0.0% | Unchanged | 6.84% |
| 2 | ARGX Argenx Se | Healthcare | 709.4K | $658.20M | 5.63% | 0 | 0.0% | Unchanged | 1.16% |
| 3 | PTCT Ptc Therapeutics, Inc. | Healthcare | 7.75M | $631.88M | 5.4% | 0 | 0.0% | Unchanged | 9.3% |
| 4 | PTGX Protagonist Therapeutics, Inc | Healthcare | 5.06M | $620.40M | 5.31% | +2,122 | +0.0% | Added | 7.68% |
| 5 | CGON CG Oncology, Inc. | Healthcare | 8.51M | $604.96M | 5.17% | +1.53M | +21.9% | Added | 9.64% |
| 6 | INSM INSMED Inc | Healthcare | 4.84M | $516.35M | 4.42% | 0 | 0.0% | Unchanged | 2.22% |
| 7 | TNGX Tango Therapeutics, Inc. | Healthcare | 13.90M | $434.53M | 3.72% | +600.0K | +4.5% | Added | 8.26% |
| 8 | SYRE Spyre Therapeutics, Inc. | Healthcare | 4.25M | $377.49M | 3.23% | +80.0K | +1.9% | Added | 5.02% |
| 9 | CELC Celcuity Inc. | Healthcare | 3.30M | $345.76M | 2.96% | +265.3K | +8.7% | Added | 6.03% |
| 10 | ERAS Erasca, Inc. | Healthcare | 17.95M | $328.78M | 2.81% | +1.79M | +11.1% | Added | 5.74% |
| 11 | RDNT RadNet, Inc. | Healthcare | 4.85M | $298.91M | 2.56% | +562.0K | +13.1% | Added | 6.16% |
| 12 | ORKA Oruka Therapeutics, Inc. | Healthcare | 3.14M | $298.74M | 2.55% | +1.08M | +52.5% | Added | 4.99% |
| 13 | NTRA Natera, Inc. | Healthcare | 1.00M | $271.45M | 2.32% | -250.0K | -20.0% | Reduced | 0.7% |
| 14 | RARE Ultragenyx Pharmaceutical Inc. | Healthcare | 7.80M | $260.34M | 2.23% | +4.15M | +113.7% | Added | 7.65% |
| 15 | IRTC iRhythm Holdings, Inc. | Healthcare | 2.18M | $259.62M | 2.22% | +514.1K | +30.8% | Added | 6.63% |
Tip. Select a row to see that position’s full history at Rtw Investments.
As of its Q2 2026 13F filing, RTW Investments, LP’s five largest positions were Madrigal Pharmaceuticals, Inc. (MDGL) at 9.2%, Argenx Se (ARGX) at 5.6%, Ptc Therapeutics, Inc. (PTCT) at 5.4%, Protagonist Therapeutics, Inc (PTGX) at 5.3%, CG Oncology, Inc. (CGON) at 5.2% of the reported portfolio.
RTW Investments, LP reported a 13F portfolio worth $11.69B across 81 positions for Q2 2026. That is up 22.9% from the previous quarter.
Its largest purchases by value were Kailera Therapeutics, Inc. ($237.41M), Ultragenyx Pharmaceutical Inc. ($138.51M), CG Oncology, Inc. ($108.69M). It opened 9 new positions.
Its largest sales by value were Cogent Biosciences, Inc. ($121.89M), Hinge Health, Inc. ($118.69M), Intuitive Surgical Inc ($101.42M). It exited 9 positions entirely.
From the Form 13F-HR reports RTW Investments, LP files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.