Rock Springs Capital Management LP

Name: Rock Springs Capital Management LP 13F holdings, Q2 2026
Creator: Rock Springs Capital Management LP
Published: 2026-08-14

Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

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%
GKOS Glaukos Corp.	0.03%	4,750	$664K	New
JSPR Jasper Therapeutics Inc.	0.02%	1,100,726	$463K	No change
BCRX Biocryst Pharmaceuticals Inc.	0.01%	22,124	$221K	Add +75.6%
MLTX Moonlake Immunotherapeutics	0.01%	10,696	$208K	Reduce -82.7%

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