RTW INVESTMENTS, LP 13F: Quarter-over-Quarter Portfolio Changes
RTW INVESTMENTS, LP reported a disclosed portfolio value of approximately $11.7 billion in its latest SEC Form 13F-HR filing for Q2 2026, up 16.5% quarter on quarter. Over the quarter, the fund initiated 9 new positions, bought more shares in 26 holdings, trimmed 8 holdings, and exited 13 positions.
RTW INVESTMENTS, LP's top buy was a new stake in Kailera Therapeutics INC (KLRA) , equal to 2.0% of the disclosed portfolio. Its top sell was Apogee Therapeutics INC (APGE) . The fund exited the position completely after it had accounted for 2.3% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| KAILERA THERAPEUTICS INC | KLRA | 2.0% | Holders → |
| STRUCTURE THERAPEUTICS INC | GPCR | 0.7% | Holders → |
| AXOGEN INC | AXGN | 0.4% | Holders → |
| DANAHER CORP DEL | DHR | 0.4% | Holders → |
| SOLID BIOSCIENCES INC | SLDB | 0.3% | Holders → |
| IDEAYA BIOSCIENCES INC | IDYA | 0.1% | Holders → |
| ALLOGENE THERAPEUTICS INC | ALLO | 0.1% | Holders → |
| MAZE THERAPEUTICS INC | MAZE | 0.1% | Holders → |
| ABIVAX SA | ABVX | 0.0% | Holders → |
Top BuysQ2 2026
Showing the top 10 buys among 26 existing positions where the fund bought more shares in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| ULTRAGENYX PHARMACEUTICAL IN | RARE | +1.5% | +113.7% | Holders → |
| TENAX THERAPEUTICS INC | TENX | +0.0% | +88.1% | Holders → |
| LARIMAR THERAPEUTICS INC | LRMR | +-0.0% | +71.1% | Holders → |
| ORUKA THERAPEUTICS INC | ORKA | +1.5% | +52.5% | Holders → |
| UNIQURE NV | QURE | +1.1% | +52.4% | Holders → |
| CULLINAN THERAPEUTICS INC | CGEM | +0.1% | +38.6% | Holders → |
| DEFINIUM THERAPEUTICS INC | DFTX | +0.1% | +33.3% | Holders → |
| IRHYTHM HOLDINGS INC | IRTC | +0.3% | +30.8% | Holders → |
| MILESTONE PHARMACEUTICALS IN | MIST | +0.0% | +23.7% | Holders → |
| CG ONCOLOGY INC | CGON | +0.5% | +21.9% | History → |
Top SellsQ2 2026
The fund's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| AVALO THERAPEUTICS INC | AVTX | -0.1% | 79.6% | Holders → |
| HINGE HEALTH INC | HNGE | -0.4% | 74.1% | Holders → |
| COGENT BIOSCIENCES INC | COGT | -1.3% | 57.7% | Holders → |
| EXAGEN INC | XGN | -0.0% | 50.7% | Holders → |
| HEARTFLOW INC | HTFL | -0.0% | 40.4% | Holders → |
| BETA BIONICS INC | BBNX | 0.0% | 25.0% | Holders → |
| NATERA INC | NTRA | -0.2% | 20.0% | Holders → |
| TAYSHA GENE THERAPIES INC | TSHA | 0.2% | 0.9% | Holders → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| APOGEE THERAPEUTICS INC | APGE | 2.3% |
| APELLIS PHARMACEUTICALS INC | APLS | 1.5% |
| INTUITIVE SURGICAL INC | ISRG | 1.0% |
| CENTESSA PHARMACEUTICALS PLC | CNTA | 0.8% |
| CRINETICS PHARMACEUTICALS, INC. | CRNX | 0.5% |
| WAYSTAR HLDG CORP | WAY | 0.4% |
| ARROWHEAD PHARMACEUTICALS IN | ARWR | 0.4% |
| STRYKER CORPORATION | SYK | 0.3% |
| COMPASS THERAPEUTICS INC | CMPX | 0.2% |
| FULGENT GENETICS INC | FLGT | 0.2% |
| JADE BIOSCIENCES INC | JBIO | 0.1% |
| INVENTIVA SA | IVA | 0.1% |
| OMADA HEALTH INC | OMDA | 0.0% |
Net Portfolio Value ChangeQ2 2026
- $10.0BPrior quarter
- $11.7BCurrent quarter
- +$1.7BNet delta
- +16.5%% change
Methodology & FAQ
How RTW INVESTMENTS, LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for RTW INVESTMENTS, LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did RTW INVESTMENTS, LP buy in Q2 2026?
In Q2 2026, RTW INVESTMENTS, LP initiated 9 new positions (KAILERA THERAPEUTICS INC (KLRA), STRUCTURE THERAPEUTICS INC (GPCR), AXOGEN INC (AXGN), DANAHER CORP DEL (DHR), SOLID BIOSCIENCES INC (SLDB), IDEAYA BIOSCIENCES INC (IDYA), ALLOGENE THERAPEUTICS INC (ALLO), MAZE THERAPEUTICS INC (MAZE), ABIVAX SA (ABVX)); bought more shares of ULTRAGENYX PHARMACEUTICAL IN (RARE), TENAX THERAPEUTICS INC (TENX), LARIMAR THERAPEUTICS INC (LRMR), ORUKA THERAPEUTICS INC (ORKA), UNIQURE NV (QURE) (the largest 5 of 26 adds).
What stocks did RTW INVESTMENTS, LP sell in Q2 2026?
In Q2 2026, RTW INVESTMENTS, LP fully sold 13 positions (APOGEE THERAPEUTICS INC (APGE), APELLIS PHARMACEUTICALS INC (APLS), INTUITIVE SURGICAL INC (ISRG), CENTESSA PHARMACEUTICALS PLC (CNTA), CRINETICS PHARMACEUTICALS, INC. (CRNX), WAYSTAR HLDG CORP (WAY), ARROWHEAD PHARMACEUTICALS IN (ARWR), STRYKER CORPORATION (SYK), COMPASS THERAPEUTICS INC (CMPX), FULGENT GENETICS INC (FLGT), JADE BIOSCIENCES INC (JBIO), INVENTIVA SA (IVA), OMADA HEALTH INC (OMDA)); reduced holdings in AVALO THERAPEUTICS INC (AVTX), HINGE HEALTH INC (HNGE), COGENT BIOSCIENCES INC (COGT), EXAGEN INC (XGN), HEARTFLOW INC (HTFL) (the largest 5 of 8 reductions).
Which positions did RTW INVESTMENTS, LP initiate in Q2 2026?
RTW INVESTMENTS, LP established 9 new positions in Q2 2026: KAILERA THERAPEUTICS INC (KLRA, 2.0%), STRUCTURE THERAPEUTICS INC (GPCR, 0.7%), AXOGEN INC (AXGN, 0.4%), DANAHER CORP DEL (DHR, 0.4%), SOLID BIOSCIENCES INC (SLDB, 0.3%), IDEAYA BIOSCIENCES INC (IDYA, 0.1%), ALLOGENE THERAPEUTICS INC (ALLO, 0.1%), MAZE THERAPEUTICS INC (MAZE, 0.1%), ABIVAX SA (ABVX, 0.0%).
Which existing positions saw the largest allocation increases for RTW INVESTMENTS, LP in Q2 2026?
Of 26 existing positions with share-count increases in Q2 2026, the largest were: ULTRAGENYX PHARMACEUTICAL IN (RARE, +1.5% weight, +113.7% shares), TENAX THERAPEUTICS INC (TENX, +0.0% weight, +88.1% shares), LARIMAR THERAPEUTICS INC (LRMR, +-0.0% weight, +71.1% shares), ORUKA THERAPEUTICS INC (ORKA, +1.5% weight, +52.5% shares), UNIQURE NV (QURE, +1.1% weight, +52.4% shares), CULLINAN THERAPEUTICS INC (CGEM, +0.1% weight, +38.6% shares), DEFINIUM THERAPEUTICS INC (DFTX, +0.1% weight, +33.3% shares), IRHYTHM HOLDINGS INC (IRTC, +0.3% weight, +30.8% shares), MILESTONE PHARMACEUTICALS IN (MIST, +0.0% weight, +23.7% shares), CG ONCOLOGY INC (CGON, +0.5% weight, +21.9% shares).
Which positions did RTW INVESTMENTS, LP fully exit in Q2 2026?
RTW INVESTMENTS, LP fully exited 13 positions in Q2 2026: APOGEE THERAPEUTICS INC (APGE, last-reported weight 2.3%), APELLIS PHARMACEUTICALS INC (APLS, last-reported weight 1.5%), INTUITIVE SURGICAL INC (ISRG, last-reported weight 1.0%), CENTESSA PHARMACEUTICALS PLC (CNTA, last-reported weight 0.8%), CRINETICS PHARMACEUTICALS, INC. (CRNX, last-reported weight 0.5%), WAYSTAR HLDG CORP (WAY, last-reported weight 0.4%), ARROWHEAD PHARMACEUTICALS IN (ARWR, last-reported weight 0.4%), STRYKER CORPORATION (SYK, last-reported weight 0.3%), COMPASS THERAPEUTICS INC (CMPX, last-reported weight 0.2%), FULGENT GENETICS INC (FLGT, last-reported weight 0.2%), JADE BIOSCIENCES INC (JBIO, last-reported weight 0.1%), INVENTIVA SA (IVA, last-reported weight 0.1%), OMADA HEALTH INC (OMDA, last-reported weight 0.0%).
Which existing positions saw the largest allocation reductions for RTW INVESTMENTS, LP in Q2 2026?
Of 8 existing positions with share-count reductions in Q2 2026, the largest were: AVALO THERAPEUTICS INC (AVTX, -0.1% weight, -79.6% shares), HINGE HEALTH INC (HNGE, -0.4% weight, -74.1% shares), COGENT BIOSCIENCES INC (COGT, -1.3% weight, -57.7% shares), EXAGEN INC (XGN, -0.0% weight, -50.7% shares), HEARTFLOW INC (HTFL, -0.0% weight, -40.4% shares), BETA BIONICS INC (BBNX, 0.0% weight, -25.0% shares), NATERA INC (NTRA, -0.2% weight, -20.0% shares), TAYSHA GENE THERAPIES INC (TSHA, 0.2% weight, -0.9% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.