CIK: 0001839209
Total reported value
$3.8B
Reporting period: 2026-03-31 · Number of holdings: 6
Darwin Global Management, Ltd. disclosed 6 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $3.8B and a quarterly turnover rate of 44.6%.
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Darwin Global Management, Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.495 — mathematically equivalent to about 2 equally-sized positions, well below its 6 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.54), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 6.0 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Trim INSM
-19.7% -$1.1B
Add BLTE
+1.0% -$30.8M
Add ABVX
+9.1% -$87.6M
Sold out CDTX
New buy RVMD
New buy ROIV
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | INSM | Insmed INC | Stock-Healthcare | 68.33% | -5.45% | -19.72% | |
| 2 | BLTE | Belite Bio INC - Adr | Stock-Other | 12.10% | +2.24% | +0.98% | |
| 3 | ABVX | Abivax Sa-adr | Stock-Other | 9.34% | +0.44% | +9.13% | |
| 4 | RVMD | Revolution Medicines INC | Stock-Healthcare | 5.44% | +5.44% | NEW | |
| 5 | ROIV | Roivant Sciences Ltd. | Stock-Healthcare | 4.76% | +4.76% | NEW | |
| 6 | DNTH | Dianthus Therapeutics INC | Stock-Other | 0.04% | +0.04% | NEW |
Performance for Q3 2026
-12.5%
Performance Last 4 Quarters
+12.4%
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 6 | $3.8B | 45 | |
| 2025-12-31 | 6 | $4.9B | 47 | |
| 2025-09-30 | 5 | $3.6B | 89 | |
| 2025-06-30 | 5 | $2.4B | 0 | |
| 2025-03-31 | 3 | $1.5B | 100 | |
| 2024-12-31 | 6 | $1.1B | 0 | |
| 2024-09-30 | 5 | $1.2B | 0 | |
| 2024-06-30 | 9 | $859.5M | 0 | |
| 2024-03-31 | 12 | $751.2M | 0 | |
| 2023-12-31 | 8 | $509.5M | 0 | |
| 2023-09-30 | 3 | $284.2M | 0 | |
| 2023-06-30 | 3 | $611.7M | 0 | |
| 2023-03-31 | 4 | $365.6M | 0 | |
| 2022-12-31 | 4 | $160.6M | 0 | |
| 2022-09-30 | 2 | $66.4M | 0 | 1VTYXUSD248576A |
| 2022-06-30 | 1 | $188.2M | 0 | |
| 2022-03-31 | 1 | $110.2M | 0 | |
| 2021-12-31 | 13 | $654.6M | 0 | |
| 2021-09-30 | 12 | $543.3M | 0 | |
| 2021-06-30 | 12 | $619.9M | 100 | |
| 2021-03-31 | 12 | $510.7M | 76 | |
| 2020-12-31 | 12 | $358.4M | 0 |
Darwin Global Management, Ltd.'s most significant position changes for 2026-03-31: Sold out: Cidara Therapeutics INC (CDTX); New buy: Revolution Medicines INC (RVMD); New buy: Roivant Sciences Ltd. (ROIV); Sold out: Wave Life Sciences Ltd. (WVE); Sold out: Capricor Therapeutics INC (CAPR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BLTE | Belite Bio INC - Adr | +2.2% | +0.98% | Add |
| 2 | ABVX | Abivax Sa-adr | +0.4% | +9.13% | Add |
| 3 | INSM | Insmed INC | -5.5% | -19.72% | Trim |
| 4 | CDTX | Cidara Therapeutics INC | — | EXIT | Sold out |
| 5 | RVMD | Revolution Medicines INC | — | NEW | New buy |
| 6 | ROIV | Roivant Sciences Ltd. | — | NEW | New buy |
| 7 | WVE | Wave Life Sciences Ltd. | — | EXIT | Sold out |
| 8 | CAPR | Capricor Therapeutics INC | — | EXIT | Sold out |
| 9 | DNTH | Dianthus Therapeutics INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
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