Rock Springs Capital Management LP
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Rock Springs Capital Management LP reported 104 stock positions worth $2.0 billion. Its top holding was Revolution Medicines (RVMD) at 10.1% of the portfolio, followed by Travere Therapeutics (TVTX, 6.0%) and Eli Lilly (LLY, 5.8%). Compared with Q1 2026, it opened 16 new positions, sold out of 12, added to 40 and reduced 31. The biggest buy was Travere Therapeutics (TVTX, shares +47%) and the biggest sale Argenx SE - ADR (ARGX, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- Baltimore, MD
- CIK
- 0001595725
- Portfolio Value
- $2.0B (Q2 2026)
- SEC Filing
- 0001172661-26-003527 ↗ filed Aug 14, 2026
Holdings Value
Holdings 104 stocks · $2.0B
| RVMD Revolution Medicines Inc. | 10.10% | 1,105,210 | $207.0M | Reduce -8.6% |
| TVTX Travere Therapeutics Inc. | 6.04% | 2,179,069 | $123.8M | Add +47.4% |
| LLY Eli Lilly & Co. | 5.78% | 98,700 | $118.4M | No change |
| MDGL Madrigal Pharmaceuticals Inc. | 4.59% | 174,999 | $94.0M | Add +2.3% |
| MIRM Mirum Pharmaceuticals Inc. | 4.56% | 798,145 | $93.4M | Reduce -1.6% |
| RYTM Rhythm Pharmaceuticals Inc. | 3.75% | 692,598 | $76.9M | Add +0.4% |
| KYMR Kymera Therapeutics Inc. | 2.54% | 453,156 | $52.0M | Reduce -8.8% |
| ARGX Argenx SE - ADR | 2.39% | 52,750 | $48.9M | Reduce -46.5% |
| ASND Ascendis Pharma A/S | 2.20% | 168,750 | $45.0M | Reduce -13.0% |
| XENE Xenon Pharmaceuticals Inc. | 2.01% | 683,907 | $41.3M | Reduce -10.4% |
| SRRK Scholar Rock Holding Corp. | 1.92% | 715,452 | $39.3M | Reduce -3.3% |
| INSM Insmed Inc. | 1.88% | 362,150 | $38.6M | Add +15.2% |
| PEN Penumbra Inc. | 1.78% | 115,750 | $36.5M | Reduce -3.9% |
| GPCR Structure Therapeutics Inc. | 1.68% | 640,317 | $34.4M | Add +0.0% |
| RARE Ultragenyx Pharmaceutical Inc. | 1.58% | 967,855 | $32.3M | Reduce -20.6% |
| IRTC Irhythm Holdings Inc. | 1.57% | 269,650 | $32.1M | Add +3.0% |
| ISRG Intuitive Surgical Inc. | 1.48% | 76,460 | $30.4M | Reduce -6.8% |
| AGL Agilon Health Inc. | 1.37% | 262,600 | $28.1M | Add +1.0% |
| UNH Unitedhealth Group Inc. | 1.29% | 63,750 | $26.5M | Add +20.3% |
| CLDX Celldex Therapeutics Inc. | 1.27% | 699,146 | $26.0M | Add +7.5% |
| ERAS Erasca Inc. | 1.25% | 1,402,150 | $25.7M | Add +27.1% |
| NBIX Neurocrine Biosciences Inc. | 1.19% | 144,750 | $24.4M | Reduce -3.8% |
| ELVN Enliven Therapeutics Inc. | 1.15% | 464,625 | $23.6M | Reduce -43.8% |
| THC Tenet Healthcare Corp. | 1.14% | 125,000 | $23.4M | No change |
| DXCM Dexcom Inc. | 1.13% | 343,000 | $23.1M | Reduce -3.5% |
| ACRS Aclaris Therapeutics Inc. | 1.12% | 4,330,532 | $22.9M | Reduce -3.2% |
| MMED Minimed Group Inc. | 1.11% | 1,520,000 | $22.7M | Add +44.1% |
| BSX Boston Scientific Corp. | 1.10% | 528,500 | $22.6M | Add +2.6% |
| PHVS Pharvaris NV | 1.09% | 648,333 | $22.4M | Add +0.4% |
| AVLN Avalyn Pharma Inc. | 1.07% | 662,918 | $21.8M | New |
| COAG Hemab Therapeutics Holdings | 1.03% | 575,432 | $21.1M | New |
| DYN Dyne Therapeutics Inc. | 1.02% | 942,154 | $20.9M | Reduce -3.1% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.98% | 66,750 | $20.1M | Reduce -9.8% |
| COGT Cogent Biosciences Inc. | 0.97% | 515,917 | $20.0M | Reduce -17.3% |
| AGIO Agios Pharmaceuticals Inc. | 0.96% | 532,563 | $19.8M | Reduce -33.4% |
| NAMS Newamsterdam Pharma Co. NV | 0.96% | 582,744 | $19.7M | Reduce -1.0% |
| VERA Vera Therapeutics Inc. | 0.90% | 427,584 | $18.3M | Reduce -15.1% |
| TARS Tarsus Pharmaceuticals Inc. | 0.85% | 277,087 | $17.4M | Add +23.1% |
| HTFL Heartflow Inc. | 0.82% | 573,500 | $16.8M | Add +0.2% |
| MBX MBX Biosciences Inc. | 0.80% | 298,218 | $16.5M | Add +3.6% |
| CYTK Cytokinetics Inc. | 0.78% | 187,980 | $16.0M | Add +314.4% |
| BCAX Bicara Therapeutics Inc. | 0.78% | 535,286 | $15.9M | Add +9.4% |
| PBLS Parabilis Medicines Inc. | 0.77% | 578,028 | $15.8M | New |
| ZLAB Zai Lab Ltd.-ADR | 0.76% | 814,707 | $15.5M | No change |
| DHR Danaher Corp. | 0.71% | 76,300 | $14.5M | Add +24.1% |
| TNGX Tango Therapeutics Inc. | 0.70% | 456,551 | $14.3M | Add +18.0% |
| EVH Evolent Health Inc. Class A | 0.66% | 2,500,000 | $13.6M | Reduce -6.5% |
| PTCT PTC Therapeutics Inc. | 0.65% | 162,298 | $13.2M | Add +0.3% |
| MLYS Mineralys Therapeutics Inc. | 0.64% | 484,951 | $13.1M | Add +10.3% |
| ZBIO Zenas Biopharma Inc. | 0.62% | 502,077 | $12.7M | No change |
| ARDX Ardelyx Inc. | 0.56% | 2,241,769 | $11.4M | Reduce -2.5% |
| INSP Inspire Medical Systems Inc. | 0.53% | 244,000 | $10.9M | Add +85.1% |
| BBIO Bridgebio Pharma Inc. | 0.53% | 144,750 | $10.8M | Add +12.9% |
| ALKS Alkermes PLC | 0.51% | 199,811 | $10.5M | Add +8.6% |
| SMMT Summit Therapeutics Inc. | 0.51% | 715,000 | $10.4M | Add +0.7% |
| AZTA Azenta Inc. | 0.50% | 403,000 | $10.3M | Reduce -29.2% |
| INDV Indivior Pharmaceuticals Inc. | 0.49% | 245,500 | $10.1M | Add +22.8% |
| SYK Stryker Corp. | 0.45% | 29,000 | $9.1M | Add +96.0% |
| AMLX Amylyx Pharmaceuticals Inc. | 0.44% | 499,764 | $9.0M | No change |
| CAI Caris Life Sciences Inc. | 0.42% | 487,500 | $8.7M | Reduce -13.4% |
| OMDA Omada Health Inc. | 0.40% | 373,000 | $8.2M | Reduce -31.1% |
| CMPX Compass Therapeutics Inc. | 0.38% | 3,524,929 | $7.7M | Add +6.6% |
| IMNM Immunome Inc. | 0.36% | 347,666 | $7.4M | No change |
| FOCL Edap TMS SA -ADR | 0.35% | 1,386,000 | $7.2M | Add +0.6% |
| PHR Phreesia Inc. | 0.35% | 696,900 | $7.2M | Add +16.1% |
| OMER Omeros Corp. | 0.33% | 718,499 | $6.8M | New |
| DFTX Definium Therapeutics Inc. | 0.33% | 143,187 | $6.7M | New |
| CORT Corcept Therapeutics Inc. | 0.31% | 72,000 | $6.3M | Add +43.3% |
| JANX Janux Therapeutics Inc. | 0.28% | 367,009 | $5.6M | No change |
| MOBI Mobia Medical Inc. | 0.27% | 418,200 | $5.6M | New |
| RCUS Arcus Biosciences Inc. | 0.27% | 180,000 | $5.5M | No change |
| TMO Thermo Fisher Scientific Inc. | 0.24% | 10,000 | $5.0M | No change |
| TRVI Trevi Therapeutics Inc. | 0.24% | 260,000 | $4.8M | New |
| SION Sionna Therapeutics Inc. | 0.21% | 99,429 | $4.4M | No change |
| CVS CVS Health Corp. | 0.20% | 40,000 | $4.1M | No change |
| EYPT Eyepoint Inc. | 0.19% | 268,519 | $3.8M | Add +3.8% |
| OCUL Ocular Therapeutix Inc. | 0.18% | 383,716 | $3.8M | No change |
| SYRE Spyre Therapeutics Inc. | 0.18% | 42,254 | $3.8M | New |
| TLPH Talphera Inc. | 0.18% | 3,589,186 | $3.7M | No change |
| ROIV Roivant Sciences Ltd. | 0.17% | 101,000 | $3.6M | Add +4.1% |
| PCVX Vaxcyte Inc. | 0.17% | 60,250 | $3.5M | No change |
| NGNE Neurogene Inc. | 0.16% | 106,750 | $3.4M | Add +2.3% |
| IPSC Century Therapeutics Inc. | 0.16% | 1,304,347 | $3.2M | No change |
| ATEC Alphatec Holdings Inc. | 0.15% | 360,000 | $3.1M | Add +2.9% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.15% | 63,500 | $3.0M | Reduce -29.4% |
| OLMA Olema Pharmaceuticals Inc. | 0.14% | 235,178 | $2.9M | Add +38.0% |
| NGEN Nervgen Pharma Corp. | 0.12% | 1,208,231 | $2.5M | New |
| MDT Medtronic PLC | 0.12% | 30,900 | $2.4M | New |
| TEVA Teva Pharmaceutical-SP ADR | 0.10% | 59,000 | $2.0M | Add +29.7% |
| DNTH Dianthus Therapeutics Inc. | 0.10% | 20,326 | $2.0M | Reduce -24.0% |
| SGMT Sagimet Biosciences Inc. Class A | 0.09% | 250,000 | $1.9M | New |
| CAPR Capricor Therapeutics Inc. | 0.09% | 74,448 | $1.8M | New |
| LENZ Lenz Therapeutics Inc. | 0.07% | 257,460 | $1.5M | No change |
| ALT Altimmune Inc. | 0.07% | 471,465 | $1.4M | New |
| KLRA Kailera Therapeutics Inc. | 0.07% | 65,000 | $1.4M | New |
| SGRY Surgery Partners Inc. | 0.07% | 84,000 | $1.4M | Reduce -59.6% |
| AXSM Axsome Therapeutics Inc. | 0.07% | 5,500 | $1.3M | New |
| ORKA Oruka Therapeutics Inc. | 0.06% | 12,051 | $1.1M | Add +192.3% |
| VKTX Viking Therapeutics Inc. | 0.05% | 25,500 | $995K | Reduce -73.4% |
| LEGN Legend Biotech Corp.-ADR | 0.05% | 33,500 | $967K | Reduce -17.3% |
Portfolio Sells Q1 2026 → Q2 2026
| ARGX Argenx SE - ADR | Reduce -46.5% | 2.39% | −1.85 |
| ACLX Arcellx Inc. | Sold out | 0.00% | −1.15 |
| CNTA Centessa Pharmaceuticals Ltd. | Sold out | 0.00% | −0.82 |
| ELVN Enliven Therapeutics Inc. | Reduce -43.8% | 1.15% | −0.76 |
| ISRG Intuitive Surgical Inc. | Reduce -6.8% | 1.48% | −0.74 |
| AGIO Agios Pharmaceuticals Inc. | Reduce -33.4% | 0.96% | −0.63 |
| XENE Xenon Pharmaceuticals Inc. | Reduce -10.4% | 2.01% | −0.60 |
| PEN Penumbra Inc. | Reduce -3.9% | 1.78% | −0.55 |
| SLNO Soleno Therapeutics Inc. | Sold out | 0.00% | −0.51 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -9.8% | 0.98% | −0.46 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.46 |
| COGT Cogent Biosciences Inc. | Reduce -17.3% | 0.97% | −0.44 |
| ASND Ascendis Pharma A/S | Reduce -13.0% | 2.20% | −0.42 |
| APLS Apellis Pharmaceuticals Inc. | Sold out | 0.00% | −0.39 |
| TERN Terns Pharmaceuticals Inc. | Sold out | 0.00% | −0.35 |
| VERA Vera Therapeutics Inc. | Reduce -15.1% | 0.90% | −0.30 |
| ARDX Ardelyx Inc. | Reduce -2.5% | 0.56% | −0.25 |
| XBI SS SPDR S&P Biotech ETF | Sold out | 0.00% | −0.23 |
| SRRK Scholar Rock Holding Corp. | Reduce -3.3% | 1.92% | −0.22 |
| AZTA Azenta Inc. | Reduce -29.2% | 0.50% | −0.21 |
| DXCM Dexcom Inc. | Reduce -3.5% | 1.13% | −0.19 |
| CAI Caris Life Sciences Inc. | Reduce -13.4% | 0.42% | −0.17 |
| NAMS Newamsterdam Pharma Co. NV | Reduce -1.0% | 0.96% | −0.15 |
| EW Edwards Lifesciences Corp. | Sold out | 0.00% | −0.14 |
| VKTX Viking Therapeutics Inc. | Reduce -73.4% | 0.05% | −0.14 |
| ACHC Acadia Healthcare Co. Inc. | Sold out | 0.00% | −0.10 |
| SGRY Surgery Partners Inc. | Reduce -59.6% | 0.07% | −0.08 |
| JAZZ Jazz Pharmaceuticals PLC | Sold out | 0.00% | −0.06 |
| MLTX Moonlake Immunotherapeutics | Reduce -82.7% | 0.01% | −0.06 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -29.4% | 0.15% | −0.05 |
| DNTH Dianthus Therapeutics Inc. | Reduce -24.0% | 0.10% | −0.04 |
| GOSS Gossamer Bio Inc. | Sold out | 0.00% | −0.03 |
| FOLD Amicus Therapeutics Inc. | Sold out | 0.00% | −0.02 |
| DYN Dyne Therapeutics Inc. | Reduce -3.1% | 1.02% | −0.02 |
| OMDA Omada Health Inc. | Reduce -31.1% | 0.40% | −0.00 |
| LEGN Legend Biotech Corp.-ADR | Reduce -17.3% | 0.05% | +0.00 |
| NBIX Neurocrine Biosciences Inc. | Reduce -3.8% | 1.19% | +0.02 |
| RARE Ultragenyx Pharmaceutical Inc. | Reduce -20.6% | 1.58% | +0.07 |
| KYMR Kymera Therapeutics Inc. | Reduce -8.8% | 2.54% | +0.10 |
| ACRS Aclaris Therapeutics Inc. | Reduce -3.2% | 1.12% | +0.13 |
| MIRM Mirum Pharmaceuticals Inc. | Reduce -1.6% | 4.56% | +0.14 |
| EVH Evolent Health Inc. Class A | Reduce -6.5% | 0.66% | +0.30 |
| RVMD Revolution Medicines Inc. | Reduce -8.6% | 10.10% | +3.17 |
Portfolio Buys Q1 2026 → Q2 2026
| TVTX Travere Therapeutics Inc. | Add +47.4% | 6.04% | +3.45 |
| AGL Agilon Health Inc. | Add +1.0% | 1.37% | +1.25 |
| AVLN Avalyn Pharma Inc. | New | 1.07% | +1.07 |
| COAG Hemab Therapeutics Holdings | New | 1.03% | +1.03 |
| PBLS Parabilis Medicines Inc. | New | 0.77% | +0.77 |
| CYTK Cytokinetics Inc. | Add +314.4% | 0.78% | +0.61 |
| UNH Unitedhealth Group Inc. | Add +20.3% | 1.29% | +0.45 |
| OMER Omeros Corp. | New | 0.33% | +0.33 |
| DFTX Definium Therapeutics Inc. | New | 0.33% | +0.33 |
| MBX MBX Biosciences Inc. | Add +3.6% | 0.80% | +0.30 |
| MOBI Mobia Medical Inc. | New | 0.27% | +0.27 |
| TRVI Trevi Therapeutics Inc. | New | 0.24% | +0.24 |
| TNGX Tango Therapeutics Inc. | Add +18.0% | 0.70% | +0.22 |
| RYTM Rhythm Pharmaceuticals Inc. | Add +0.4% | 3.75% | +0.22 |
| BCAX Bicara Therapeutics Inc. | Add +9.4% | 0.78% | +0.20 |
| ERAS Erasca Inc. | Add +27.1% | 1.25% | +0.20 |
| CORT Corcept Therapeutics Inc. | Add +43.3% | 0.31% | +0.19 |
| SYRE Spyre Therapeutics Inc. | New | 0.18% | +0.18 |
| MMED Minimed Group Inc. | Add +44.1% | 1.11% | +0.18 |
| SYK Stryker Corp. | Add +96.0% | 0.45% | +0.16 |
| INDV Indivior Pharmaceuticals Inc. | Add +22.8% | 0.49% | +0.13 |
| INSP Inspire Medical Systems Inc. | Add +85.1% | 0.53% | +0.13 |
| ALKS Alkermes PLC | Add +8.6% | 0.51% | +0.13 |
| NGEN Nervgen Pharma Corp. | New | 0.12% | +0.12 |
| MDT Medtronic PLC | New | 0.12% | +0.12 |
| SGMT Sagimet Biosciences Inc. Class A | New | 0.09% | +0.09 |
| CAPR Capricor Therapeutics Inc. | New | 0.09% | +0.09 |
| ALT Altimmune Inc. | New | 0.07% | +0.07 |
| KLRA Kailera Therapeutics Inc. | New | 0.07% | +0.07 |
| AXSM Axsome Therapeutics Inc. | New | 0.07% | +0.07 |
| CLDX Celldex Therapeutics Inc. | Add +7.5% | 1.27% | +0.05 |
| PHR Phreesia Inc. | Add +16.1% | 0.35% | +0.05 |
| FOCL Edap TMS SA -ADR | Add +0.6% | 0.35% | +0.05 |
| ORKA Oruka Therapeutics Inc. | Add +192.3% | 0.06% | +0.04 |
| NGNE Neurogene Inc. | Add +2.3% | 0.16% | +0.04 |
| GKOS Glaukos Corp. | New | 0.03% | +0.03 |
| DHR Danaher Corp. | Add +24.1% | 0.71% | +0.02 |
| PHVS Pharvaris NV | Add +0.4% | 1.09% | +0.02 |
| TEVA Teva Pharmaceutical-SP ADR | Add +29.7% | 0.10% | +0.02 |
| ROIV Roivant Sciences Ltd. | Add +4.1% | 0.17% | +0.02 |
| BCRX Biocryst Pharmaceuticals Inc. | Add +75.6% | 0.01% | +0.00 |
| HTFL Heartflow Inc. | Add +0.2% | 0.82% | +0.00 |
| PTCT PTC Therapeutics Inc. | Add +0.3% | 0.65% | −0.00 |
| OLMA Olema Pharmaceuticals Inc. | Add +38.0% | 0.14% | −0.01 |
| EYPT Eyepoint Inc. | Add +3.8% | 0.19% | −0.01 |
| BBIO Bridgebio Pharma Inc. | Add +12.9% | 0.53% | −0.04 |
| MLYS Mineralys Therapeutics Inc. | Add +10.3% | 0.64% | −0.06 |
| ATEC Alphatec Holdings Inc. | Add +2.9% | 0.15% | −0.07 |
| TARS Tarsus Pharmaceuticals Inc. | Add +23.1% | 0.85% | −0.08 |
| GPCR Structure Therapeutics Inc. | Add +0.0% | 1.68% | −0.14 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 104 | $2.0B | RVMD, TVTX, LLY, MDGL, MIRM |
| Q1 2026 | 100 | $1.7B | RVMD, LLY, MDGL, MIRM, ARGX |
| Q4 2025 | 96 | $1.9B | LLY, RVMD, ARGX, TVTX, MDGL |
| Q3 2025 | 90 | $1.7B | ARGX, LLY, RYTM, MDGL, RVMD |
| Q2 2025 | 91 | $1.6B | ARGX, LLY, MRUS, RYTM, INSM |
| Q1 2025 | 94 | $1.7B | ARGX, LLY, BPMC, MDGL, UNH |
| Q4 2024 | 104 | $2.6B | ARGX, ISRG, LLY, NBIX, BPMC |
| Q3 2024 | 106 | $3.1B | UNH, ISRG, ARGX, LLY, RARE |
| Q2 2024 | 106 | $3.3B | BPMC, UNH, ISRG, NBIX, LLY |
| Q1 2024 | 108 | $3.9B | BPMC, IMCR, NBIX, EVH, ISRG |