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Rock Springs Capital Management LP

Q4 2025 · Filed 2026-02-17
Market Value
$1.9B
+14.4%
Holdings
103
+8
New Purchases
17
Added To
31
Closed
12
Reduced
24
Top 10 Concentration
41.7%
Turnover
28.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
RVMD 5.72% 3.84% +1.88% $106M
TVTX 4.55% 3.19% +1.36% $84M
EXAS 3.29% 2.00% +1.29% $61M
GPCR 2.80% 1.64% +1.16% $52M
LLY 6.10% 4.95% +1.14% $113M
CDTX 2.44% 1.47% +0.97% $45M
COGT 1.62% 0.89% +0.73% $30M
UNH 0.72% 0.00% +0.72% $13M
FOLD 1.48% 0.94% +0.53% $27M
XBI 1.46% 0.94% +0.52% $27M
KYMR 2.08% 1.57% +0.51% $39M
MDGL 4.38% 3.89% +0.49% $81M
VERA 1.55% 1.10% +0.45% $29M
IMNM 0.40% 0.00% +0.40% $7M
RAPT 0.39% 0.00% +0.39% $7M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MRUS 0.00% 3.46% -3.46% $0
AKRO 0.00% 1.83% -1.83% $0
ARGX 4.67% 6.48% -1.81% $87M
AGIO 1.17% 2.37% -1.20% $22M
EVH 0.58% 1.54% -0.96% $11M
ZLAB 0.77% 1.65% -0.88% $14M
RARE 1.57% 2.31% -0.74% $29M
OMDA 0.63% 1.25% -0.62% $12M
MREO 0.00% 0.58% -0.58% $0
ALNY 1.52% 2.08% -0.56% $28M
CAI 1.00% 1.48% -0.48% $19M
LENZ 0.22% 0.68% -0.46% $4M
RYTM 4.00% 4.46% -0.45% $74M
INSM 2.99% 3.41% -0.42% $56M
ACLX 0.60% 0.90% -0.31% $11M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 2 $127M 6.8%
Large Cap 22 $666M 35.8%
Mid Cap 41 $800M 43.1%
Small Cap 27 $217M 11.7%
Micro Cap 11 $48M 2.6%

Portfolio Analytics

Avg Market Cap
$25.3B
Median Market Cap
$3.5B
Avg P/E
48.9
Median P/E
35.3
Avg Dividend Yield
0.00%
Avg Beta
0.84
# Stocks
102
# ETFs / Funds
1

Top Holdings (103 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 LLY 6.10% 105,400 $113M $1,074.68 $33M
2 RVMD 5.72% 1,335,270 $106M $79.65 $44M
3 ARGX 4.67% 103,250 $87M $840.95 -$18M -39,500 -27.7%
4 TVTX 4.55% 2,210,322 $84M $38.21 $33M +45,549 +2.1%
5 MDGL 4.38% 139,618 $81M $582.34 $18M +1,872 +1.4%
6 RYTM 4.00% 695,010 $74M $107.04 $2M -22,092 -3.1%
7 EXAS 3.29% 601,800 $61M $101.56 $29M +8,300 +1.4%
8 MIRM 3.24% 762,294 $60M $78.99 $4M +1,168 +0.1%
9 INSM 2.99% 319,250 $56M $174.04 $118K -65,750 -17.1%
10 GPCR 2.80% 748,236 $52M $69.55 $25M -202,918 -21.3%
11 ISRG 2.50% 82,000 $46M $566.36 $10M
12 CDTX 2.44% 204,878 $45M $220.89 $21M -44,524 -17.9%
13 IRTC 2.24% 235,000 $42M $177.44 $1M
14 KYMR 2.08% 496,871 $39M $77.81 $13M +46,497 +10.3%
15 BSX 2.05% 399,050 $38M $95.35 $3M +38,800 +10.8%
16 PEN 2.02% 120,500 $37M $310.91 $7M
17 XENE 1.90% 787,788 $35M $44.82 $1M -63,956 -7.5%
18 SRRK 1.74% 733,477 $32M $44.05 $3M -60,656 -7.6%
19 COGT 1.62% 849,030 $30M $35.52 $16M -159,278 -15.8%
20 RARE 1.57% 1,267,241 $29M $23.00 -$8M +20,900 +1.7%
21 VERA 1.55% 568,579 $29M $50.64 $11M -48,817 -7.9%
22 ALNY 1.52% 71,250 $28M $397.65 -$6M -3,000 -4.0%
23 FOLD 1.48% 1,929,931 $27M $14.24 $12M -17,443 -0.9%
24 XBI 1.46% 222,000 $27M $121.93 $12M +70,250 +46.3%
25 THC 1.34% 125,000 $25M $198.72 -$540K
26 DXCM 1.24% 347,300 $23M $66.37 $2M +30,400 +9.6%
27 AGIO 1.17% 799,163 $22M $27.22 -$17M -159,379 -16.6%
28 TARS 1.15% 260,344 $21M $81.88 $4M -28,000 -9.7%
29 CMPX 1.14% 3,927,202 $21M $5.37 $5M -547,500 -12.2%
30 BRKS 1.02% 569,100 $19M $33.26 $3M +28,700 +5.3%
31 CLDX 1.01% 692,538 $19M $27.16 $143K -29,000 -4.0%
32 CAI 1.00% 687,500 $19M $26.98 -$5M -106,151 -13.4%
33 ZBIO 0.98% 502,077 $18M $36.31 $5M -78,600 -13.5%
34 DYN 0.96% 912,955 $18M $19.56 $7M +88,894 +10.8%
35 NBIX 0.96% 125,500 $18M $141.83 $5M +35,750 +39.8%
36 PHVS 0.93% 623,402 $17M $27.75 $2M
37 MLYS 0.84% 427,596 $16M $36.29 $34K +19,283 +4.7%
38 PHR 0.80% 876,600 $15M $16.92 -$3M +127,484 +17.0%
39 ZLAB 0.77% 811,546 $14M $17.64 -$12M +20,353 +2.6%
40 DHR 0.76% 61,500 $14M $228.92 $2M
41 UNH 0.72% 40,800 $13M $330.11 +40,800 NEW
42 ARDX 0.72% 2,299,473 $13M $5.83 $809K +13,200 +0.6%
43 ACRS 0.72% 4,453,741 $13M $3.01 $5M -155,568 -3.4%
44 SMMT 0.67% 710,000 $12M $17.49 -$2M
45 ELVN 0.66% 798,405 $12M $15.40 -$2M +112,298 +16.4%
46 INSP 0.65% 131,000 $12M $92.23 $4M +20,500 +18.6%
47 OMDA 0.63% 740,000 $12M $15.78 -$9M -179,950 -19.6%
48 ACLX 0.60% 169,859 $11M $65.20 -$4M -9,123 -5.1%
49 EVH 0.58% 2,675,000 $11M $4.00 -$14M -275,000 -9.3%
50 GOSS 0.55% 3,266,960 $10M $3.10 $2M
51 MBX 0.48% 282,624 $9M $31.54 $4M
52 CNTA 0.44% 324,015 $8M $25.01 $6M +254,775 +368.0%
53 HTFL 0.44% 277,700 $8M $29.15 -$320K +27,700 +11.1%
54 BBIO 0.43% 103,500 $8M $76.49 $4M +18,500 +21.8%
55 REGN 0.42% 10,100 $8M $771.87 $1M -1,200 -10.6%
56 IMNM 0.40% 347,666 $7M $21.48 +347,666 NEW
57 RAPT 0.39% 213,731 $7M $33.87 +213,731 NEW
58 BCAX 0.39% 429,095 $7M $16.83 $1M +58,429 +15.8%
59 EW 0.38% 82,500 $7M $85.25 $189K -5,500 -6.2%
60 ATEC 0.34% 302,500 $6M $21.04 $2M
61 AMLX 0.32% 499,764 $6M $12.08 -$755K
62 TMO 0.31% 10,000 $6M $579.45 $944K
63 JANX 0.27% 358,798 $5M $13.80 -$190K +148,432 +70.6%
64 SGRY 0.26% 310,000 $5M $15.45 +310,000 NEW
65 EYPT 0.25% 258,739 $5M $18.27 $4M +227,084 +717.4%
66 PTCT 0.25% 61,879 $5M $75.96 +61,879 NEW
67 MRSN 0.24% 152,586 $4M $28.93 $3M
68 TERN 0.24% 108,481 $4M $40.40 +108,481 NEW
69 RCUS 0.23% 180,000 $4M $23.83 +180,000 NEW
70 EDAP 0.23% 1,286,500 $4M $3.29 $1M +16,500 +1.3%
71 OCUL 0.23% 345,820 $4M $12.14 $691K +45,820 +15.3%
72 LENZ 0.22% 257,460 $4M $16.00 -$7M +21,233 +9.0%
73 TLPH 0.22% 3,589,186 $4M $1.14 $886K
74 SION 0.22% 99,429 $4M $41.14 $1M
75 TBPH 0.21% 208,771 $4M $18.71 +208,771 NEW
76 ALKS 0.21% 139,228 $4M $27.98 $699K +32,691 +30.7%
77 APLS 0.20% 150,500 $4M $25.12 $2M +58,500 +63.6%
78 ERAS 0.19% 951,710 $4M $3.72 +951,710 NEW
79 TNGX 0.18% 386,915 $3M $8.86 +386,915 NEW
80 OLMA 0.13% 98,240 $2M $25.00 +98,240 NEW
81 CYTK 0.12% 35,853 $2M $63.54 +35,853 NEW
82 PCVX 0.12% 47,000 $2M $46.14 $2M +35,900 +323.4%
83 NGNE 0.12% 104,339 $2M $20.60 $341K
84 ROIV 0.10% 88,750 $2M $21.70 +88,750 NEW
85 CORT 0.09% 50,250 $2M $34.80 +50,250 NEW
86 ACHC 0.09% 120,000 $2M $14.19 -$3M -50,000 -29.4%
87 TEVA 0.08% 45,500 $1M $31.21 +45,500 NEW
88 MLTX 0.04% 61,700 $813K $13.18 $611K +33,500 +118.8%
89 LEGN 0.04% 33,800 $735K $21.74 +33,800 NEW
90 JAZZ 0.02% 1,750 $298K $170.00 +1,750 NEW
91 NUVB-WT —% 134,028 $44K $0.33 $17K
92 PRTA —% -$248K -25,398 -100.0% SOLD
93 IMVT —% -$1M -72,965 -100.0% SOLD
94 CGEN —% -$20K -13,430 -100.0% SOLD
95 CATX —% -$2M -444,383 -100.0% SOLD
96 KRRO —% -$2M -35,719 -100.0% SOLD
97 APLT —% -$1M -2,075,991 -100.0% SOLD
98 MREO —% -$9M -4,570,649 -100.0% SOLD
99 AKRO —% -$30M -626,526 -100.0% SOLD
100 MRUS —% -$56M -597,051 -100.0% SOLD

New Positions

SymbolValue% Port
UNH $13M 0.72%
IMNM $7M 0.40%
RAPT $7M 0.39%
SGRY $5M 0.26%
PTCT $5M 0.25%
TERN $4M 0.24%
RCUS $4M 0.23%
TBPH $4M 0.21%
ERAS $4M 0.19%
TNGX $3M 0.18%
OLMA $2M 0.13%
CYTK $2M 0.12%
ROIV $2M 0.10%
CORT $2M 0.09%
TEVA $1M 0.08%

Sold Out Positions

SymbolValue% Port
WST —%
CRL —%
KRRO —%
CGEN —%
MREO —%
NVAX —%
PRTA —%
CATX —%
IMVT —%
AKRO —%
MRUS —%
APLT —%
View SEC EDGAR Filings for Rock Springs Capital Management LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms