Rock Springs Capital Portfolio
13F Holdings & Position Changes — Last filed Aug 14, 2026
13F Holdings & Position Changes — Last filed Aug 14, 2026
Concentrated long/short healthcare fund focused on fundamental research. Rock Springs takes conviction-weighted positions based on deep pipeline analysis, therapeutic area expertise, and a willingness to be contrarian when the science supports it.
Rock Springs Capital is a $6B biotech-focused hedge fund managed by Graham McPhail. As of their latest 13F filing (Q2 2026), the fund holds 97 positions worth $2.0B. This quarter they initiated 12 new positions and exited 85. Their largest holding is RVMD ($207.0M).
Rock initiated 12 new positions and increased 39 this quarter. Portfolio grew +18.5% to $2.0B. 664 upcoming catalysts across holdings.
Portfolio Value (13F)
$2.0B
Holdings
97
Top 10 Concentration
46.3%
QoQ Change
+18.5%
Turnover
4.3%
Portfolio Value Trend
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| # | Ticker | Company | Change | Value | % of Portfolio | SI % Float ? | Trend |
|---|---|---|---|---|---|---|---|
| 1 | RVMD | Revolution Medicines Inc. | Decreased↓2Q | $207.0M | 10.27% | 4.8% | |
| 2 | TVTX | Travere Therapeutics Inc. | Increased | $123.8M | 6.15% | — | |
| 3 | LLY | Eli Lilly & Co | $118.4M | 5.88% | 0.7% | ||
| 4 | RYTM | Rhythm Pharmaceuticals Inc. | Increased↑2Q | $109.0M | 5.41% | 14.9% | |
| 5 | MDGL | Madrigal Pharmaceuticals Inc. | Increased↑3Q | $94.0M | 4.66% | 10.3% | |
| 6 | MIRM | Mirum Pharmaceuticals Inc. | Decreased | $93.4M | 4.64% | 14.1% | |
| 7 | KYMR | Kymera Therapeutics Inc. | Decreased | $52.0M | 2.58% | 16.1% | |
| 8 | ARGX | argenx SE | Decreased↓6Q | $48.9M | 2.43% | — | |
| 9 | ASND | Ascendis Pharma A/S | Decreased↓4Q | $45.0M | 2.23% | 3.6% | |
| 10 | XENE | Xenon Pharmaceuticals Inc. | Decreased↓5Q | $41.3M | 2.05% | 5.9% |
Share changes reflect active decisions. Value changes include price moves.
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Rock Springs Capital held 97 biotech stocks in their 13F portfolio this quarter. Their top positions include RVMD, TVTX, LLY, RYTM, MDGL. The full holdings table is available on BiotechEdge with position sizes, quarter-over-quarter changes, and AI analysis.
Rock Springs Capital's tracked biotech portfolio is worth $2.0B across 97 positions, with total assets under management of approximately $6B. Portfolio values are based on 13F filings with the SEC.
Rock Springs Capital initiated 12 new positions this quarter, including AVLN, COAG, PBLS, OMER, DFTX and 7 more. They also increased 39 existing positions.
Rock Springs Capital fully exited 85 positions this quarter, including AKRO, KRYS, ANAB, HUM, EXAS and 80 more. They also trimmed 29 existing positions.
Concentrated long/short healthcare fund focused on fundamental research. Rock Springs takes conviction-weighted positions based on deep pipeline analysis, therapeutic area expertise, and a willingness to be contrarian when the science supports it.
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