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RTW Investments Portfolio holdings

AUM $10B
1-Year Est. Return 135.35%
This Fund
S&P 500
This Quarter Est. Return
+45.01%
1 Year Est. Return
+135.35%
3 Year Est. Return
+383.62%
5 Year Est. Return
+523.94%
10 Year Est. Return
+15,981.64%
AUM
$8.12B
AUM Growth
+$1.09B
Cap. Flow
-$633M
Cap. Flow %
-7.79%
Top 10 Hldgs %
52.59%
Holding
83
New
10
Increased
17
Reduced
12
Closed
9

Top Buys

Rank Stock Value
1
RNAM
Avidity Biosciences
RNAM
+$70.9M
2
RARE icon
Ultragenyx Pharmaceutical
RARE
+$46.5M
3
COGT icon
Cogent Biosciences
COGT
+$41.1M
4
GH icon
Guardant Health
GH
+$34M
5
XNCR icon
Xencor
XNCR
+$33.1M

Top Sells

Rank Stock Value
1
VRNA
Verona Pharma
VRNA
+$289M
2
MRUS
Merus
MRUS
+$129M
3
ZLAB icon
Zai Lab
ZLAB
+$112M
4
NTRA icon
Natera
NTRA
+$93.9M
5
ALKS icon
Alkermes
ALKS
+$84.9M

Sector Composition

Rank Sector Weight
1 Healthcare 99.9%
2 Financials 0.1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
URGN icon
26
UroGen Pharma
URGN
$2.29B
$90.7M 1.12%
4,543,895
– –
ISRG icon
27
Intuitive Surgical
ISRG
$134B
$90.5M 1.12%
202,456
– –
GHRS icon
28
GH Research
GHRS
$2.08B
$79.6M 0.98%
5,569,564
+29,107
+0.5% +$407K
TSHA icon
29
Taysha Gene Therapies
TSHA
$1.89B
$79.6M 0.98%
24,354,291
-667,293
-3% -$1.89M
ZLAB icon
30
Zai Lab
ZLAB
$2.62B
$77.7M 0.96%
2,291,372
-3,245,504
-59% -$112M
IMTX icon
31
Immatics
IMTX
$1.32B
$75.1M 0.93%
8,815,617
+1,845,465
+26% +$11.4M
XNCR icon
32
Xencor
XNCR
$1.55B
$73M 0.9%
6,221,054
+3,818,171
+159% +$33.1M
CGON icon
33
CG Oncology
CGON
$6.66B
$68.5M 0.84%
1,701,216
– –
BBNX
34
Beta Bionics
BBNX
$715M
$65.6M 0.81%
3,299,191
– –
SYRE icon
35
Spyre Therapeutics
SYRE
$9.25B
$60.7M 0.75%
3,621,996
– –
RCKT icon
36
Rocket Pharmaceuticals
RCKT
$394M
$57.7M 0.71%
17,687,772
– –
CNTA
37
DELISTED
Centessa Pharmaceuticals
CNTA
$55.6M 0.68%
2,291,747
+761,911
+50% +$13.5M
ALKS icon
38
Alkermes
ALKS
$8.25B
$50.2M 0.62%
1,672,356
-3,009,933
-64% -$84.9M
CMPS
39
Compass Pathways
CMPS
$1.83B
$49.9M 0.61%
8,707,390
+485,461
+6% +$2.18M
COGT icon
40
Cogent Biosciences
COGT
$7.24B
$49.8M 0.61%
+3,467,486
New +$41.1M
VSTM icon
41
Verastem
VSTM
$610M
$47.9M 0.59%
5,426,306
+1,174,690
+28% +$8.74M
DGX icon
42
Quest Diagnostics
DGX
$26.3B
$47.6M 0.59%
250,000
-250,000
-50% -$44.4M
LENZ
43
LENZ Therapeutics
LENZ
$168M
$40.2M 0.5%
863,389
– –
RAPT
44
DELISTED
RAPT Therapeutics
RAPT
$37.9M 0.47%
1,470,499
– –
ORKA
45
Oruka Therapeutics
ORKA
$5.96B
$37.4M 0.46%
1,945,649
– –
DYN icon
46
Dyne Therapeutics
DYN
$4.9B
$36.6M 0.45%
2,890,567
+1,200,000
+71% +$13.7M
CRNX icon
47
Crinetics Pharmaceuticals
CRNX
$8.92B
$36.3M 0.45%
872,387
+405,387
+87% +$13M
AQST icon
48
Aquestive Therapeutics
AQST
$494M
$34.9M 0.43%
+6,250,000
New +$27M
ABVX
49
Abivax
ABVX
$11.4B
$29.7M 0.37%
+350,000
New +$21.5M
GEHC icon
50
GE HealthCare
GEHC
$32.4B
$29.6M 0.36%
393,500
-232,500
-37% -$17.3M
1
2
3 4

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RTW Investments's Q3 2025 Portfolio in Review

As of Q3 2025, RTW Investments held 83 positions worth $8.12B, up 16% from $7.02B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

RTW Investments withdrew a net $633M in Q3 2025, closing 9 positions and reducing 12 holdings. Its most notable exit was Verona Pharma, an estimated $289M position sold in full.

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

Against the trend, RTW Investments opened a new position in Cogent Biosciences worth $49.8M.

  • RTW Investments's largest Q3 2025 buy was Cogent Biosciences: 3,467,486 shares worth $49.8M.
  • RTW Investments added most to Avidity Biosciences in Q3 2025, an estimated $70.9M increase.
  • RTW Investments's biggest Q3 2025 reduction was Merus, cutting an estimated $129M.
  • RTW Investments fully exited Verona Pharma in Q3 2025, selling an estimated $289M.
  • RTW Investments's ten largest holdings make up 53% of its $8.12B portfolio in Q3 2025.
  • RTW Investments opened 10 new positions and closed 9 in Q3 2025.
  • RTW Investments's portfolio value rose 16% quarter-over-quarter to $8.12B.

Based on RTW Investments's 13F filing for Q3 2025, filed 14 Nov 2025.