Darwin Global Management, Ltd.

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Darwin Global Management, Ltd. reported 5 stock positions worth $1.2 billion. Its top holding was Insmed (INSM) at 62.3% of the portfolio, followed by Vaxcyte (PCVX, 20.4%) and Geron (GERN, 8.1%). Compared with Q2 2024, it opened 1 new position, sold out of 5, added to 2 and reduced 2. The biggest buy was Insmed (INSM, shares +196%) and the biggest sale an exit from Cytokinetics (CYTK).

Most Recent 13F
Q2 2026
Location
ST. HELIER, Y9
CIK
0001839209
Portfolio Value
$1.2B (Q3 2024)
SEC Filing
0001892688-24-000146 ↗ filed Nov 14, 2024

Holdings Value

0$1.0B$2.0B$3.0B$4.0B$5.0B Q1 2024: $751.2M Q1 2024 Q2 2024: $859.5M Q2 2024 Q3 2024: $1.2B $1.2B Q3 2024 Q4 2024: $1.1B Q4 2024 Q1 2025: $1.5B Q1 2025 Q2 2025: $2.4B Q2 2025 Q3 2025: $3.6B Q3 2025 Q4 2025: $4.9B Q4 2025 Q1 2026: $3.8B Q1 2026 Q2 2026: $3.8B Q2 2026

Holdings 5 stocks · $1.2B
INSM Insmed Inc. 62.31% 10,497,277 $766.3M Add +196.4%
PCVX Vaxcyte Inc. 20.43% 2,198,187 $251.2M Add +5.6%
GERN Geron Corp. 8.14% 22,038,773 $100.1M Reduce -7.8%
KROS Keros Therapeutics Inc. 7.20% 1,523,732 $88.5M Reduce -0.1%
SMMT Summit Therapeutics Inc. 1.93% 1,084,880 $23.8M New

Portfolio Sells Q2 2024 → Q3 2024
CYTK Cytokinetics Inc. Sold out 0.00% −28.63
GERN Geron Corp. Reduce -7.8% 8.14% −4.22
CRBP Corbus Pharmaceuticals Holdi Sold out 0.00% −1.66
SYRE Spyre Therapeutics Inc. Sold out 0.00% −1.19
RNAM Avidity Biosciences Inc. Sold out 0.00% −0.94
KROS Keros Therapeutics Inc. Reduce -0.1% 7.20% −0.81
ELEV Elevation Oncology Inc. Sold out 0.00% −0.56

Portfolio Buys Q2 2024 → Q3 2024
INSM Insmed Inc. Add +196.4% 62.31% +34.73
SMMT Summit Therapeutics Inc. New 1.93% +1.93
PCVX Vaxcyte Inc. Add +5.6% 20.43% +1.35

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 5$3.8BRVMD, INSM, BLTE, ABVX, ROIV
Q1 2026 6$3.8BINSM, BLTE, ABVX, RVMD, ROIV
Q4 2025 6$4.9BINSM, BLTE, ABVX, CDTX, WVE
Q3 2025 5$3.6BINSM, UTHR, ABVX, CDTX, QURE
Q2 2025 5$2.4BINSM, VRNA, CDTX, MRUS, ALLO
Q1 2025 3$1.5BINSM, VRNA, ALLO
Q4 2024 6$1.1BINSM, JAZZ, VRNA, GERN, KROS
Q3 2024 5$1.2BINSM, PCVX, GERN, KROS, SMMT
Q2 2024 9$859.5MCYTK, INSM, PCVX, GERN, KROS
Q1 2024 12$751.2MPCVX, NUVL, KROS, BHVN, ALPN