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Rock Springs Capital Management Portfolio holdings

AUM $2.05B
1-Year Est. Return 161.37%
This Fund
S&P 500
This Quarter Est. Return
+8.33%
1 Year Est. Return
+161.37%
3 Year Est. Return
+342.48%
5 Year Est. Return
+531.16%
10 Year Est. Return
+6,258.71%
AUM
$1.6B
AUM Growth
-$143M
Cap. Flow
-$225M
Cap. Flow %
-13.99%
Top 10 Hldgs %
36.09%
Holding
105
New
9
Increased
32
Reduced
29
Closed
12

Top Buys

Rank Stock Value
1
CAI
Caris Life Sciences
CAI
+$21.4M
2
AGIO icon
Agios Pharmaceuticals
AGIO
+$19.6M
3
OMDA
Omada Health Inc
OMDA
+$15.9M
4
XBI icon
State Street SPDR S&P Biotech ETF
XBI
+$12.1M
5
ACLX
Arcellx
ACLX
+$11.6M

Top Sells

Rank Stock Value
1
BPMC
Blueprint Medicines
BPMC
+$85.4M
2
NUVL
Nuvalent
NUVL
+$24.5M
3
NBIX icon
Neurocrine Biosciences
NBIX
+$21.8M
4
UNH icon
UnitedHealth
UNH
+$19.1M
5
LEGN icon
Legend Biotech
LEGN
+$17.4M

Sector Composition

Rank Sector Weight
1 Healthcare 98.9%
2 Miscellaneous 1.1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ARGX icon
1
argenx
ARGX
$61.3B
$96.9M 6.04%
175,750
– –
LLY icon
2
Eli Lilly
LLY
$1.01T
$90.8M 5.66%
116,500
+3,000
+3% +$2.33M
MRUS
3
DELISTED
Merus
MRUS
$55.9M 3.49%
1,063,608
+82,857
+8% +$3.9M
RYTM icon
4
Rhythm Pharmaceuticals
RYTM
$6.66B
$54.4M 3.39%
861,153
+26,965
+3% +$1.65M
INSM icon
5
Insmed
INSM
$26.2B
$52.8M 3.29%
525,000
+9,100
+2% +$696K
RARE icon
6
Ultragenyx Pharmaceutical
RARE
$1.29B
$50.6M 3.15%
1,391,072
-3,362
-0.2% -$121K
RVMD icon
7
Revolution Medicines
RVMD
$43.9B
$49M 3.05%
1,330,960
+49,320
+4% +$1.89M
ISRG icon
8
Intuitive Surgical
ISRG
$133B
$44.6M 2.78%
82,000
-20,000
-20% -$10.5M
MDGL icon
9
Madrigal Pharmaceuticals
MDGL
$12.1B
$42.5M 2.65%
140,296
-26,402
-16% -$7.87M
MIRM icon
10
Mirum Pharmaceuticals
MIRM
$6.1B
$41.6M 2.59%
818,206
-133,559
-14% -$5.95M
BSX icon
11
Boston Scientific
BSX
$63.6B
$38.1M 2.38%
355,000
+78,000
+28% +$7.89M
ASND icon
12
Ascendis Pharma A/S
ASND
$15.8B
$37.5M 2.33%
217,000
+1,000
+0.5% +$163K
IRTC icon
13
iRhythm Holdings
IRTC
$3.69B
$37.3M 2.33%
242,500
-11,800
-5% -$1.52M
AKRO
14
DELISTED
Akero Therapeutics
AKRO
$34.2M 2.13%
640,526
-32,233
-5% -$1.46M
PEN icon
15
Penumbra
PEN
$12.5B
$33M 2.05%
128,500
-42,500
-25% -$11.6M
AGIO icon
16
Agios Pharmaceuticals
AGIO
$1.96B
$32.9M 2.05%
989,745
+647,565
+189% +$19.6M
ALNY icon
17
Alnylam Pharmaceuticals
ALNY
$31.9B
$32.6M 2.03%
100,000
-43,250
-30% -$12M
EVH icon
18
Evolent Health
EVH
$423M
$31.8M 1.98%
2,820,700
+125,000
+5% +$1.15M
ZLAB icon
19
Zai Lab
ZLAB
$2.78B
$30.5M 1.9%
871,392
-33,200
-4% -$1.09M
EXAS
20
DELISTED
Exact Sciences
EXAS
$30.4M 1.89%
572,000
+92,000
+19% +$4.67M
XENE icon
21
Xenon Pharmaceuticals
XENE
$5.45B
$29.2M 1.82%
931,681
– –
TVTX icon
22
Travere Therapeutics
TVTX
$5.89B
$28.2M 1.76%
1,908,208
-1,012,988
-35% -$16.8M
SRRK icon
23
Scholar Rock
SRRK
$6.09B
$28.1M 1.75%
794,133
+32,592
+4% +$1.02M
DXCM icon
24
DexCom
DXCM
$32.6B
$25M 1.56%
286,750
-110,900
-28% -$8.69M
PHR icon
25
Phreesia
PHR
$642M
$23.8M 1.48%
837,300
-311,036
-27% -$7.89M
1
2 3 4 5

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Rock Springs Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Rock Springs Capital Management held 105 positions worth $1.6B, down 8.2% from $1.75B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Rock Springs Capital Management withdrew a net $225M in Q2 2025, closing 12 positions and reducing 29 holdings. Its most notable exit was Legend Biotech, an estimated $17.4M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, down from 100% a quarter earlier, followed by Miscellaneous.

Against the trend, Rock Springs Capital Management opened a new position in Caris Life Sciences worth $21.2M.

  • Rock Springs Capital Management's largest Q2 2025 buy was Caris Life Sciences: 793,651 shares worth $21.2M.
  • Rock Springs Capital Management added most to Agios Pharmaceuticals in Q2 2025, an estimated $19.6M increase.
  • Rock Springs Capital Management's biggest Q2 2025 reduction was Blueprint Medicines, cutting an estimated $85.4M.
  • Rock Springs Capital Management fully exited Legend Biotech in Q2 2025, selling an estimated $17.4M.
  • Rock Springs Capital Management's ten largest holdings make up 36% of its $1.6B portfolio in Q2 2025.
  • Rock Springs Capital Management opened 9 new positions and closed 12 in Q2 2025.
  • Rock Springs Capital Management's portfolio value fell 8.2% quarter-over-quarter to $1.6B.

Based on Rock Springs Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.