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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
+31.09%
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
$9.98B
AUM Growth
+$1.87B
Cap. Flow
+$293M
Cap. Flow %
2.94%
Top 10 Hldgs %
50.46%
Holding
103
New
29
Increased
20
Reduced
12
Closed
12

Top Buys

Rank Stock Value
1
INSM icon
Insmed
INSM
+$321M
2
IRTC icon
iRhythm Holdings
IRTC
+$209M
3
APLS
Apellis Pharmaceuticals
APLS
+$180M
4
RGEN icon
Repligen
RGEN
+$167M
5
COGT icon
Cogent Biosciences
COGT
+$116M

Top Sells

Rank Stock Value
1
RNAM
Avidity Biosciences
RNAM
+$496M
2
AKRO
Akero Therapeutics
AKRO
+$260M
3
MRUS
Merus
MRUS
+$191M
4
NTRA icon
Natera
NTRA
+$104M
5
SYK icon
Stryker
SYK
+$89.3M

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
BLTE
26
Belite Bio
BLTE
$6.54B
$114M 1.15%
715,332
+402,832
+129% +$47.7M
URGN icon
27
UroGen Pharma
URGN
$2.29B
$106M 1.07%
4,543,895
– –
XNCR icon
28
Xencor
XNCR
$1.55B
$104M 1.04%
6,777,461
+556,407
+9% +$8.31M
PODD icon
29
Insulet
PODD
$9.79B
$92.3M 0.92%
+324,600
New +$101M
TSHA icon
30
Taysha Gene Therapies
TSHA
$1.89B
$90.2M 0.9%
16,398,297
-7,955,994
-33% -$38.6M
MASI
31
DELISTED
Masimo
MASI
$88.9M 0.89%
683,294
– –
QURE icon
32
uniQure
QURE
$3.22B
$88.8M 0.89%
3,711,462
-713,506
-16% -$27.5M
SYK icon
33
Stryker
SYK
$130B
$86.1M 0.86%
245,000
-245,000
-50% -$89.3M
CGON icon
34
CG Oncology
CGON
$6.66B
$83.5M 0.84%
2,012,127
+310,911
+18% +$12.9M
CSTL icon
35
Castle Biosciences
CSTL
$979M
$82.3M 0.82%
+2,115,237
New +$68.2M
IMVT icon
36
Immunovant
IMVT
$8.25B
$80.8M 0.81%
+3,177,850
New +$70.9M
BBNX
37
Beta Bionics
BBNX
$715M
$76.2M 0.76%
2,500,000
-799,191
-24% -$21.3M
GHRS icon
38
GH Research
GHRS
$2.08B
$75.4M 0.75%
5,933,815
+364,251
+7% +$4.96M
REPL icon
39
Replimune Group
REPL
$1.01B
$69.4M 0.7%
7,140,352
+744,620
+12% +$6.33M
RARE icon
40
Ultragenyx Pharmaceutical
RARE
$2.55B
$69M 0.69%
3,000,139
-258,127
-8% -$8.49M
CRNX icon
41
Crinetics Pharmaceuticals
CRNX
$8.92B
$62.9M 0.63%
1,351,326
+478,939
+55% +$21.3M
ORKA
42
Oruka Therapeutics
ORKA
$5.96B
$62.4M 0.62%
2,058,148
+112,499
+6% +$3.13M
RCKT icon
43
Rocket Pharmaceuticals
RCKT
$394M
$62.1M 0.62%
17,687,772
– –
CMPS
44
Compass Pathways
CMPS
$1.83B
$60.4M 0.61%
8,757,390
+50,000
+0.6% +$305K
ISRG icon
45
Intuitive Surgical
ISRG
$134B
$57.3M 0.57%
101,228
-101,228
-50% -$53.9M
RAPT
46
DELISTED
RAPT Therapeutics
RAPT
$55.5M 0.56%
1,637,165
+166,666
+11% +$5.18M
CELC icon
47
Celcuity
CELC
$4.52B
$54.9M 0.55%
+550,160
New +$45.2M
VSTM icon
48
Verastem
VSTM
$610M
$50.8M 0.51%
6,576,306
+1,150,000
+21% +$10.2M
ALKS icon
49
Alkermes
ALKS
$8.25B
$46.8M 0.47%
1,672,356
– –
CNTA
50
DELISTED
Centessa Pharmaceuticals
CNTA
$44.8M 0.45%
1,790,837
-500,910
-22% -$12.7M
1
2
3 4 5

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RTW Investments's Q4 2025 Portfolio in Review

As of Q4 2025, RTW Investments held 103 positions worth $9.98B, up 23% from $8.12B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

RTW Investments's Q4 2025 filing shows 29 new, 20 increased, 12 reduced and 12 closed positions. Its largest new stake was iRhythm Holdings: 1,181,990 shares worth $210M. The largest sale was Avidity Biosciences, an estimated $496M.

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

  • RTW Investments's largest Q4 2025 buy was iRhythm Holdings: 1,181,990 shares worth $210M.
  • RTW Investments added most to Insmed in Q4 2025, an estimated $321M increase.
  • RTW Investments's biggest Q4 2025 reduction was Natera, cutting an estimated $104M.
  • RTW Investments fully exited Avidity Biosciences in Q4 2025, selling an estimated $496M.
  • RTW Investments's ten largest holdings make up 50% of its $9.98B portfolio in Q4 2025.
  • RTW Investments opened 29 new positions and closed 12 in Q4 2025.
  • RTW Investments's portfolio value rose 23% quarter-over-quarter to $9.98B.

Based on RTW Investments's 13F filing for Q4 2025, filed 17 Feb 2026.