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Darwin Global Management, Ltd.

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13F filer, CIK 1839209, ST. HELIER, Jersey

Darwin Global Management, Ltd. reported $4,939,420,175 across 6 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001892688-26-000041

Period
2025-12-31
Reported value
$4.94B
Holdings
6
Top 10 weight
100%
New
3
Sold out
2

Part of the filer group Darwin Global Management, Ltd.

  • Darwin Global Master Fund, Ltd.
  • Dr. Abhishek Trehan
How groups are built

Stakes and trades reported after 2025-12-31

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

  • GMAB GENMAB A/S: 13G 3,668,310 shares, 5.9% of the class, 13G filed 2026-10-05, 0000902664-26-004067Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BLTEnew+3,027,704$487M
WVEnew+7,298,421$125M
INSMadded+475,832$82.8M
CAPRnew+800,000$23.2M
ABVXadded+14,000$1.94M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
UTHRexited-748,550-$318M
QUREexited-400,000-$23.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001892688-26-000041, largest first. % of portfolio is the value over $4,939,420,175, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
INSMINSMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,497,277 shares; 2024Q4: 12,960,538 shares; 2025Q1: 15,397,975 shares; 2025Q2: 19,344,621 shares; 2025Q3: 20,457,445 shares; 2025Q4: 20,933,277 shares 20,933,277$3.64B73.78%+475,832Timeline
BLTEBELITE BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,027,704 shares 3,027,704$487M9.86%newTimeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 3,164,501 shares; 2025Q4: 3,178,501 shares 3,178,501$440M8.9%+14,000Timeline
CDTXCIDARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 768,424 shares; 2025Q3: 997,196 shares; 2025Q4: 997,196 shares 997,196$220M4.46%0Timeline
WVEWAVE LIFE SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 7,298,421 shares 7,298,421$125M2.53%newTimeline
CAPRCAPRICOR THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 800,000 shares 800,000$23.2M0.47%newTimeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
UTHRUNITED THERAPEUTICS CORP DEL748,550$318Mshares
QUREUNIQURE NV400,000$23.8Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001892688-26-000041 base2026-02-17acceptance time not in the bulk data set