Q4 2025 · 13F-HR
Darwin Global Management, Ltd.holdings as filed
Filed 2026-02-17 · accession 0001892688-26-000041
$4.94B
Reported value
6
Positions
2025-12-31
Period end
The Brief · Darwin Global Management, Ltd. · Q4 2025
AI · grounded in 13F
Darwin Global Management, Ltd. established a new position in BLTE valued at $486.9M. The fund also exited its positions in UTHR, reducing exposure by $317.6M, and QURE, reducing exposure by $23.8M. Additional activity included a new position in WVE for $125.2M and an accumulation of shares in INSM by 2.326%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 457669307 | INSM | INSMED INC | $3.64B | 73.8% | 20,933,277 | Common | SOLE |
| 07782B104 | BLTE | BELITE BIO INC | $486.9M | 9.86% | 3,027,704 | Common | SOLE |
| 00370M103 | ABVX | ABIVAX SA | $439.7M | 8.90% | 3,178,501 | Common | SOLE |
| 171757206 | CDTX | CIDARA THERAPEUTICS INC | $220.2M | 4.46% | 997,196 | Common | SOLE |
| Y95308105 | WVE | WAVE LIFE SCIENCES LTD | $125.2M | 2.53% | 7,298,421 | Common | SOLE |
| 14070B309 | CAPR | CAPRICOR THERAPEUTICS INC | $23.2M | 0.47% | 800,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.