RTW Investments, LP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), RTW Investments, LP reported 67 stock positions worth $6.5 billion. Its top holding was Madrigal Pharmaceuticals (MDGL) at 8.3% of the portfolio, followed by Rocket Pharmaceuticals (RCKT, 5.9%) and Axsome Therapeutics (AXSM, 5.8%). Compared with Q1 2024, it opened 7 new positions, sold out of 8, added to 23 and reduced 12. The biggest buy was Madrigal Pharmaceuticals (MDGL, shares +383%) and the biggest sale Immunocore Holdings PLC-ADR (IMCR, shares −19%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001493215
- Portfolio Value
- $6.5B (Q2 2024)
- SEC Filing
- 0001493152-24-031911 ↗ filed Aug 14, 2024
Holdings Value
Holdings 67 stocks · $6.5B
| MDGL Madrigal Pharmaceuticals Inc. | 8.31% | 1,915,862 | $536.7M | Add +382.5% |
| RCKT Rocket Pharmaceuticals Inc. | 5.90% | 17,687,772 | $380.8M | No change |
| AXSM Axsome Therapeutics Inc. | 5.78% | 4,634,331 | $373.1M | Add +3.1% |
| RNAM Avidity Biosciences Inc. | 5.57% | 8,806,838 | $359.8M | Add +10.5% |
| ARGX Argenx SE - ADR | 4.36% | 654,430 | $281.4M | Reduce -1.9% |
| NTRA Natera Inc. | 4.35% | 2,593,323 | $280.8M | No change |
| MRUS Merus NV | 3.82% | 4,169,393 | $246.7M | Add +1.5% |
| INSM Insmed Inc. | 3.78% | 3,640,108 | $243.9M | Add +95.2% |
| PTCT PTC Therapeutics Inc. | 3.50% | 7,393,127 | $226.1M | Reduce -0.4% |
| DYN Dyne Therapeutics Inc. | 3.49% | 6,387,138 | $225.4M | Add +106.6% |
| ACAD Acadia Pharmaceuticals Inc. | 3.45% | 13,707,506 | $222.7M | Reduce -0.9% |
| BRKR Bruker Corp. | 3.40% | 3,444,095 | $219.8M | Add +3.0% |
| MASI Masimo Corp. | 2.85% | 1,462,400 | $184.2M | No change |
| PTGX Protagonist Therapeutics Inc. | 2.84% | 5,286,404 | $183.2M | Reduce -0.6% |
| ALKS Alkermes PLC | 2.63% | 7,056,988 | $170.1M | Add +16.6% |
| IMCR Immunocore Holdings PLC-ADR | 2.56% | 4,869,798 | $165.0M | Reduce -19.1% |
| CYTK Cytokinetics Inc. | 2.28% | 2,721,158 | $147.4M | Add +7.8% |
| RARE Ultragenyx Pharmaceutical Inc. | 2.07% | 3,259,927 | $134.0M | Reduce -54.0% |
| PEN Penumbra Inc. | 2.07% | 742,105 | $133.6M | Add +9.8% |
| AKRO Akero Therapeutics Inc. | 1.97% | 5,431,985 | $127.4M | No change |
| ESTA Establishment Labs Holdings | 1.88% | 2,675,703 | $121.6M | No change |
| IMTX Immatics NV | 1.80% | 10,000,000 | $116.2M | No change |
| RDNT Radnet Inc. | 1.69% | 1,856,010 | $109.4M | Add +9.1% |
| APGE Apogee Therapeutics Inc. | 1.65% | 2,712,096 | $106.7M | Add +9.9% |
| TARS Tarsus Pharmaceuticals Inc. | 1.44% | 3,412,486 | $92.8M | Add +4.3% |
| ISRG Intuitive Surgical Inc. | 1.39% | 202,456 | $90.1M | Add +104.5% |
| ARVN Arvinas Inc. | 1.22% | 2,967,897 | $79.0M | Reduce -10.0% |
| SYRE Spyre Therapeutics Inc. | 1.19% | 3,258,360 | $76.6M | Add +45.9% |
| CRGX Cargo Therapeutics Inc. | 1.04% | 4,078,122 | $67.0M | Add +9.2% |
| URGN Urogen Pharma Ltd. | 0.92% | 3,557,347 | $59.7M | Add +9.2% |
| SAGE Sage Therapeutics Inc. | 0.92% | 5,480,577 | $59.5M | No change |
| ETNB 89BIO Inc. | 0.92% | 7,378,548 | $59.1M | No change |
| STOK Stoke Therapeutics Inc. | 0.88% | 4,224,838 | $57.1M | No change |
| OBIO Orchestra Biomed Holdings Inc. | 0.71% | 5,620,640 | $45.8M | No change |
| GKOS Glaukos Corp. | 0.71% | 386,291 | $45.7M | Add +557.1% |
| CGON CG Oncology Inc. | 0.66% | 1,344,074 | $42.4M | Add +224.9% |
| TSHA Taysha Gene Therapies Inc. | 0.65% | 18,800,299 | $42.1M | Add +1.1% |
| NGNE Neurogene Inc. | 0.60% | 1,070,565 | $39.0M | Add +39.2% |
| GHRS GH Research PLC | 0.60% | 3,327,129 | $38.8M | No change |
| VCEL Vericel Corp. | 0.57% | 801,397 | $36.8M | Reduce -50.1% |
| FULC Fulcrum Therapeutics Inc. | 0.56% | 5,845,956 | $36.2M | No change |
| CGEM Cullinan Therapeutics Inc. | 0.28% | 1,052,630 | $18.4M | New |
| DNTH Dianthus Therapeutics Inc. | 0.27% | 666,667 | $17.3M | No change |
| ROIV Roivant Sciences Ltd. | 0.24% | 1,454,273 | $15.4M | No change |
| LENZ Lenz Therapeutics Inc. | 0.23% | 863,389 | $14.9M | No change |
| TEM Tempus AI Inc. Class A | 0.22% | 400,000 | $14.0M | New |
| KYTX Kyverna Therapeutics Inc. | 0.22% | 1,852,711 | $13.9M | No change |
| EPIX Essa Pharma Inc. | 0.19% | 2,298,662 | $12.1M | No change |
| REPL Replimune Group Inc. | 0.16% | 1,133,787 | $10.2M | New |
| TXG 10X Genomics Inc. Class A | 0.15% | 502,856 | $9.8M | Reduce -67.7% |
| TRML Tourmaline Bio Inc. | 0.15% | 741,656 | $9.5M | No change |
| VRDN Viridian Therapeutics Inc. | 0.12% | 605,816 | $7.9M | No change |
| FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR | 0.12% | 742,500 | $7.5M | New |
| ARCA BIOPHARMA INC | 0.08% | 1,400,000 | $5.4M | New |
| IMUX Immunic Inc. | 0.08% | 4,567,717 | $5.1M | No change |
| GPCR Structure Therapeutics Inc. | 0.08% | 125,000 | $4.9M | New |
| SLRN Acelyrin Inc. | 0.07% | 978,310 | $4.3M | No change |
| MIST Milestone Pharmaceuticals Inc. | 0.07% | 3,256,102 | $4.3M | No change |
| RGNX Regenxbio Inc. | 0.06% | 350,000 | $4.1M | No change |
| ALLURION TECHNOLOGIES INC | 0.06% | 3,697,549 | $3.7M | Add +6.9% |
| XGN Exagen Inc. | 0.04% | 1,511,866 | $2.8M | Add +0.5% |
| SABS Sab Biotherapeutics Inc. | 0.04% | 766,946 | $2.4M | Reduce -16.4% |
| CUTRQ Cutera Inc. | 0.03% | 1,331,776 | $2.0M | No change |
| SGMT Sagimet Biosciences Inc. Class A | 0.03% | 500,000 | $1.7M | Reduce -50.0% |
| ARYD Arya Sciences Acquisition-A | 0.02% | 127,970 | $1.5M | No change |
| CTMX Cytomx Therapeutics Inc. | 0.02% | 1,200,002 | $1.5M | New |
| ACET Adicet Bio Inc. | 0.02% | 1,053,688 | $1.3M | Reduce -74.5% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $21K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| RCKTW Rocket Pharmaceuticals in-27 | *W EXP 09/02/202 | 350,000 | $21K | No change |
Total filed on the 13F, all lines: $6.5B.
Portfolio Sells Q1 2024 → Q2 2024
| IMCR Immunocore Holdings PLC-ADR | Reduce -19.1% | 2.56% | −3.22 |
| RARE Ultragenyx Pharmaceutical Inc. | Reduce -54.0% | 2.07% | −2.81 |
| AVDL Avadel Pharmaceuticals plc | Sold out | 0.00% | −2.19 |
| SYK Stryker Corp. | Sold out | 0.00% | −1.70 |
| SWAV Shockwave Medical Inc. | Sold out | 0.00% | −1.39 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.95 |
| ARVN Arvinas Inc. | Reduce -10.0% | 1.22% | −0.79 |
| TXG 10X Genomics Inc. Class A | Reduce -67.7% | 0.15% | −0.71 |
| VCEL Vericel Corp. | Reduce -50.1% | 0.57% | −0.66 |
| JANX Janux Therapeutics Inc. | Sold out | 0.00% | −0.56 |
| ACAD Acadia Pharmaceuticals Inc. | Reduce -0.9% | 3.45% | −0.33 |
| ACET Adicet Bio Inc. | Reduce -74.5% | 0.02% | −0.12 |
| EXAS Exact Sciences Corp. | Sold out | 0.00% | −0.10 |
| LRMR Larimar Therapeutics Inc. | Sold out | 0.00% | −0.07 |
| SGMT Sagimet Biosciences Inc. Class A | Reduce -50.0% | 0.03% | −0.05 |
| XAIR Beyond Air Inc. | Sold out | 0.00% | −0.03 |
| SABS Sab Biotherapeutics Inc. | Reduce -16.4% | 0.04% | −0.02 |
| PTCT PTC Therapeutics Inc. | Reduce -0.4% | 3.50% | +0.31 |
| ARGX Argenx SE - ADR | Reduce -1.9% | 4.36% | +0.48 |
| PTGX Protagonist Therapeutics Inc. | Reduce -0.6% | 2.84% | +0.57 |
Portfolio Buys Q1 2024 → Q2 2024
| MDGL Madrigal Pharmaceuticals Inc. | Add +382.5% | 8.31% | +6.74 |
| INSM Insmed Inc. | Add +95.2% | 3.78% | +3.03 |
| RNAM Avidity Biosciences Inc. | Add +10.5% | 5.57% | +2.57 |
| DYN Dyne Therapeutics Inc. | Add +106.6% | 3.49% | +2.19 |
| MRUS Merus NV | Add +1.5% | 3.82% | +1.09 |
| ISRG Intuitive Surgical Inc. | Add +104.5% | 1.39% | +0.81 |
| GKOS Glaukos Corp. | Add +557.1% | 0.71% | +0.63 |
| AXSM Axsome Therapeutics Inc. | Add +3.1% | 5.78% | +0.48 |
| RDNT Radnet Inc. | Add +9.1% | 1.69% | +0.47 |
| CGON CG Oncology Inc. | Add +224.9% | 0.66% | +0.39 |
| CGEM Cullinan Therapeutics Inc. | New | 0.28% | +0.28 |
| TEM Tempus AI Inc. Class A | New | 0.22% | +0.22 |
| ALKS Alkermes PLC | Add +16.6% | 2.63% | +0.21 |
| URGN Urogen Pharma Ltd. | Add +9.2% | 0.92% | +0.20 |
| REPL Replimune Group Inc. | New | 0.16% | +0.16 |
| FRNM Freenome Inc. | New | 0.12% | +0.12 |
| ARCA BIOPHARMA INC | New | 0.08% | +0.08 |
| GPCR Structure Therapeutics Inc. | New | 0.08% | +0.08 |
| NGNE Neurogene Inc. | Add +39.2% | 0.60% | +0.03 |
| CTMX Cytomx Therapeutics Inc. | New | 0.02% | +0.02 |
| XGN Exagen Inc. | Add +0.5% | 0.04% | +0.01 |
| ALLURION TECHNOLOGIES INC | Add +6.9% | 0.06% | −0.03 |
| SYRE Spyre Therapeutics Inc. | Add +45.9% | 1.19% | −0.06 |
| TSHA Taysha Gene Therapies Inc. | Add +1.1% | 0.65% | −0.14 |
| PEN Penumbra Inc. | Add +9.8% | 2.07% | −0.16 |
| CRGX Cargo Therapeutics Inc. | Add +9.2% | 1.04% | −0.19 |
| TARS Tarsus Pharmaceuticals Inc. | Add +4.3% | 1.44% | −0.32 |
| CYTK Cytokinetics Inc. | Add +7.8% | 2.28% | −0.33 |
| APGE Apogee Therapeutics Inc. | Add +9.9% | 1.65% | −0.77 |
| BRKR Bruker Corp. | Add +3.0% | 3.40% | −1.23 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 83 | $11.7B | MDGL, ARGX, PTCT, PTGX, CGON |
| Q1 2026 | 87 | $10.0B | MDGL, INSM, PTGX, PTCT, ARGX |
| Q4 2025 | 90 | $10.0B | MDGL, INSM, PTCT, ARGX, PTGX |
| Q3 2025 | 73 | $8.1B | MDGL, ARGX, RNAM, PTCT, INSM |
| Q2 2025 | 72 | $7.0B | MDGL, NTRA, PTCT, ARGX, PTGX |
| Q1 2025 | 67 | $6.5B | MDGL, ARGX, PTCT, NTRA, AXSM |
| Q4 2024 | 71 | $6.6B | MDGL, ARGX, NTRA, AXSM, PTCT |
| Q3 2024 | 67 | $6.9B | MDGL, AXSM, RNAM, ARGX, NTRA |
| Q2 2024 | 67 | $6.5B | MDGL, RCKT, AXSM, RNAM, ARGX |
| Q1 2024 | 68 | $6.8B | RCKT, IMCR, AXSM, RARE, BRKR |