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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
REPL icon
51
Replimune Group
REPL
$1.01B
$26.8M 0.33%
6,395,732
+4,330,722
+210% +$27.7M
NGNE icon
52
Neurogene
NGNE
$712M
$23.6M 0.29%
1,362,456
– –
BLTE
53
Belite Bio
BLTE
$6.54B
$23.1M 0.28%
+312,500
New +$20.5M
ALEC icon
54
Alector
ALEC
$199M
$20.7M 0.26%
+6,990,806
New +$15.4M
OBIO icon
55
Orchestra BioMed
OBIO
$254M
$20.6M 0.25%
8,306,063
+1
+0% +$3
CRVS icon
56
Corvus Pharmaceuticals
CRVS
$1.17B
$19.7M 0.24%
2,679,479
– –
XGN icon
57
Exagen
XGN
$166M
$18.6M 0.23%
1,696,866
– –
HTFL
58
Heartflow Inc
HTFL
$2.49B
$16.7M 0.21%
+495,000
New +$15.9M
TEM
59
Tempus AI
TEM
$9.39B
$16.1M 0.2%
200,000
-200,000
-50% -$14M
JBIO
60
Jade Biosciences
JBIO
$1.34B
$12.5M 0.15%
1,449,273
– –
CTMX icon
61
CytomX Therapeutics
CTMX
$754M
$11M 0.14%
3,461,500
– –
CGEM icon
62
Cullinan Oncology
CGEM
$1.14B
$10.1M 0.12%
1,705,960
– –
LRMR icon
63
Larimar Therapeutics
LRMR
$432M
$10.1M 0.12%
+3,125,000
New +$11.7M
CMPX icon
64
Compass Therapeutics
CMPX
$387M
$8.75M 0.11%
+2,500,000
New +$7.9M
PCSC
65
DELISTED
Perceptive Capital Solutions
PCSC
$7.84M 0.1%
742,500
– –
PEPG icon
66
PepGen
PEPG
$197M
$6.93M 0.09%
+1,500,000
New +$2.42M
WVE icon
67
Wave Life Sciences
WVE
$1.2B
$6.59M 0.08%
900,000
– –
ALUR
68
DELISTED
Allurion Technologies
ALUR
$5.21M 0.06%
2,542,603
– –
MIST icon
69
Milestone Pharmaceuticals
MIST
$152M
$5.01M 0.06%
2,506,102
– –
OMDA
70
Omada Health Inc
OMDA
$1.41B
$4.42M 0.05%
200,000
– –
TENX icon
71
Tenax Therapeutics
TENX
$503M
$2.88M 0.04%
378,346
– –
IMA
72
ImageneBio Inc
IMA
$64.6M
$2.73M 0.03%
+334,445
New +$4.43M
ADGM
73
Adagio Medical Holdings
ADGM
$15.2M
$406K 0.01%
209,361
– –
RCKTW icon
74
Rocket Pharmaceuticals Warrant
RCKTW
$288K
$13.7K ﹤0.01%
350,000
– –
ABT icon
75
Abbott
ABT
$187B
– –
-444,000
Closed -$60.4M
1 2
3
4

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GI
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IIM
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ACA
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MF
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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.