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Livermore
Livermore
ZHEN

Darwin Global Management, Ltd.

SEC CIK
0001839209
Latest filing
Aug 14, 2026

The latest 13F from Darwin Global Management, Ltd. covers Q2 2026 (filed Aug 14, 2026): 5 long positions worth $3.76B. The top 10 holdings make up 100.0% of the portfolio, and the largest is Revolution Medicines, Inc. (RVMD) at 54.5%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
0
Added
3
Est. +$1.64B
Reduced
2
Est. −$1.09B
Sold out
1
Est. −$1.46M

Top 5 holdings

Share of this quarter's portfolio value

  1. RVMDRevolution Medicines, Inc.
    54.5%$2.05BHistory
  2. INSMINSMED Inc
    17.9%$673.6MHistory
  3. BLTEBelite Bio, Inc
    12.1%$456.6MHistory
  4. ABVXAbivax S.A.
    9.3%$348.2MHistory
  5. ROIVRoivant Sciences Ltd.
    6.2%$234.3MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. RVMDRevolution Medicines, Inc.
    +$1.62BAddedHistory
  2. ABVXAbivax S.A.
    +$14.7MAddedHistory
  3. BLTEBelite Bio, Inc
    +$2.94MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. RVMDRevolution Medicines, Inc.
    +49.02 pp5.4% → 54.5%History
  2. BLTEBelite Bio, Inc
    +0.05 pp12.1% → 12.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. INSMINSMED Inc
    −$1.09BReducedHistory
  2. ROIVRoivant Sciences Ltd.
    −$1.74MReducedHistory
  3. DNTHDianthus Therapeutics, Inc.
    −$1.46MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. INSMINSMED Inc
    −50.42 pp68.3% → 17.9%History
  2. DNTHDianthus Therapeutics, Inc.
    −0.04 pp<0.1% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$3.76B
−$10.4M (−0.3%) vs. prior quarter
Positions
5
−1 vs. prior quarter
Top 10 concentration
100.0%
Top 10 as share of value
Turnover
28.9%
Q2 2026, one quarter
Average holding period
3.6 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $4.94B (Q4 2025)

Q1 2021: $510.7MQ2 2021: $619.9MQ3 2021: $543.3MQ4 2021: $654.6MQ1 2022: $110.2MQ2 2022: $188.2MQ3 2022: $66.4MQ4 2022: $160.6MQ1 2023: $365.6MQ2 2023: $611.7MQ3 2023: $284.2MQ4 2023: $509.5MQ1 2024: $751.2MQ2 2024: $859.5MQ3 2024: $1.23BQ4 2024: $1.06BQ1 2025: $1.46BQ2 2025: $2.38BQ3 2025: $3.60BQ4 2025: $4.94BQ1 2026: $3.77BQ2 2026: $3.76B
Q1 2021Q2 2026
13F filings of Darwin Global Management, Ltd. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 20265$3.76BRVMDINSMBLTEvs. Q1 2026SEC
Q1 2026May 15, 20266$3.77BINSMBLTEABVXvs. Q4 2025SEC
Q4 2025Feb 17, 20266$4.94BINSMBLTEABVXvs. Q3 2025SEC
Q3 2025Nov 14, 20255$3.60BINSMUTHRABVXvs. Q2 2025SEC
Q2 2025Aug 14, 20255$2.38BINSMVRNACDTXvs. Q1 2025SEC
Q1 2025May 15, 20253$1.46BINSMVRNAALLOvs. Q4 2024SEC
Q4 2024Feb 14, 20256$1.06BINSMJAZZVRNAvs. Q3 2024SEC
Q3 2024Nov 14, 20245$1.23BINSMPCVXGERNvs. Q2 2024SEC
Q2 2024Aug 14, 20249$859.5MCYTKINSMPCVXvs. Q1 2024SEC
Q1 2024May 15, 202412$751.2MPCVXNUVLKROSvs. Q4 2023SEC
Q4 2023Feb 14, 20248$509.5MAMAMTGTXMLTXvs. Q3 2023SEC
Q3 2023Nov 14, 20233$284.2MAMAMIMVTARGXvs. Q2 2023SEC
Q2 2023Aug 14, 20233$611.7MAMAMTGTXARGXvs. Q1 2023SEC
Q1 2023May 15, 20234$365.6MTGTXARGXAMAMvs. Q4 2022SEC
Q4 2022Feb 14, 20234$160.6MARGXKROSAMAMvs. Q3 2022SEC
Q3 2022Nov 14, 20222$66.4MVTYXKRTXvs. Q2 2022SEC
Q2 2022Aug 15, 20221$188.2MAZNvs. Q1 2022SEC
Q1 2022May 16, 20221$110.2MAZNvs. Q4 2021SEC
Q4 2021Feb 14, 202213$654.6MPFENTLAAZNvs. Q3 2021SEC
Q3 2021Nov 15, 202112$543.3MXLRNNTLABNTXvs. Q2 2021SEC
Q2 2021Aug 16, 202112$619.9MNTLAXLRNFATEvs. Q1 2021SEC
Q1 2021May 17, 202112$510.7MXLRNBBIOFATE–SEC

13D and 13G filings

Companies where Darwin Global Management, Ltd. reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

1 company, largest stake first.

Companies where Darwin Global Management, Ltd. owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
BLTEBelite Bio, Inc13G/A8.10%3.03M shares+1.10 ppfrom 7.00%Dec 10, 20252 filingsFeb 17, 2026SEC

Latest filings

16 filings on file made by Darwin Global Management, Ltd. or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Darwin Global Management, Ltd.
CompanyFiled (ET)FormStakeChangeEvent dateFiling
INSMINSMED IncAug 14, 20265:00 PM ET13G/A3.00%6.43M shares−4.80 ppfrom 7.80%Below 5%Jun 30, 2026SEC
INSMINSMED IncMay 15, 20265:00 PM ET13G/A7.80%16.8M shares−1.90 ppfrom 9.70%Mar 31, 2026SEC
BLTEBelite Bio, IncFeb 17, 20264:30 PM ET13G/A8.10%3.03M shares+1.10 ppfrom 7.00%Dec 31, 2025SEC
BLTEBelite Bio, IncDec 10, 20254:30 PM ET13G7.00%2.62M sharesNewDec 3, 2025SEC
INSMINSMED IncNov 14, 20254:30 PM ET13G/A9.70%20.5M shares+1.20 ppfrom 8.50%Sep 30, 2025SEC
INSMINSMED IncMay 15, 20254:30 PM ET13G/A8.50%15.4M shares+1.30 ppfrom 7.20%Mar 31, 2025SEC
INSMINSMED IncFeb 14, 20254:10 PM ET13G/A7.20%13.0M shares–Dec 31, 2024SEC
TGTXTG Therapeutics, Inc.Nov 14, 202413G/AOld format–––SEC
INSMINSMED IncSep 3, 202413GOld format–New–SEC
TGTXTG Therapeutics, Inc.Feb 14, 202413G/AOld format–––SEC
AMAMAmbrx Biopharma, Inc.Jun 28, 202313D/AOld format–––SEC
AMAMAmbrx Biopharma, Inc.May 25, 202313D/AOld format–––SEC
TGTXTG Therapeutics, Inc.Apr 3, 202313GOld format–New–SEC
AMAMAmbrx Biopharma, Inc.Mar 8, 202313DOld format–––SEC
AMAMAmbrx Biopharma, Inc.Feb 14, 202313G/AOld format–––SEC
AMAMAmbrx Biopharma, Inc.Dec 19, 202213GOld format–New–SEC