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RCM
RA Capital Management Portfolio holdings
AUM
$11.5B
1-Year Est. Return
168.77%
This Fund
S&P 500
This Quarter
Est. Return
+18.95%
1 Year Est. Return
+168.77%
3 Year Est. Return
+596.08%
5 Year Est. Return
+846.46%
10 Year Est. Return
+54,223.74%
AUM
$11.5B
AUM Growth
+$2.07B
(+22%)
Cap. Flow
+$618M
Cap. Flow
% of AUM
5.37%
Top 10 Holdings %
Top 10 Hldgs %
60.42%
Holding
101
New
16
Increased
10
Reduced
10
Closed
17
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PBLS
Parabilis Medicines Inc
PBLS
|
+$799M |
| 2 |
COAG
Hemab Therapeutics
COAG
|
+$215M |
| 3 |
ABVX
Abivax
ABVX
|
+$128M |
| 4 |
ORKA
Oruka Therapeutics
ORKA
|
+$104M |
| 5 |
ARTV
Artiva Biotherapeutics
ARTV
|
+$73.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dianthus Therapeutics
DNTH
|
+$219M |
| 2 |
NUVL
Nuvalent
NUVL
|
+$138M |
| 3 |
Praxis Precision Medicines
PRAX
|
+$120M |
| 4 |
Sarepta Therapeutics
SRPT
|
+$84.9M |
| 5 |
Spyre Therapeutics
SYRE
|
+$81.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.67% |
| 2 | Financials | 0.27% |
| 3 | Miscellaneous | 0.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Ascendis Pharma A/S
ASND
$16.3B
| $2.74B | 23.83% |
10,281,496
| – | – |
|
|
PBLS
2
Parabilis Medicines Inc
PBLS
$4.83B
| $792M | 6.88% |
+28,933,371
| New | +$799M |
|
3
Rhythm Pharmaceuticals
RYTM
$7.38B
| $740M | 6.43% |
6,666,837
| – | – |
|
4
Vaxcyte
PCVX
$8.9B
| $667M | 5.8% |
11,474,599
| – | – |
|
|
SION
5
Sionna Therapeutics
SION
$265M
| $436M | 3.79% |
9,905,045
| – | – |
|
6
Tyra Biosciences
TYRA
$1.49B
| $390M | 3.39% |
12,198,625
| – | – |
|
7
Edgewise Therapeutics
EWTX
$4.64B
| $341M | 2.96% |
8,392,730
-2,035,707
| -20% | -$70.2M |
|
8
NewAmsterdam Pharma
NAMS
$3.1B
| $324M | 2.81% |
9,550,191
| – | – |
|
|
COAG
9
Hemab Therapeutics
COAG
$2.09B
| $287M | 2.49% |
+7,808,627
| New | +$215M |
|
|
SEPN
10
Septerna Inc
SEPN
$1.82B
| $234M | 2.04% |
6,995,858
| – | – |
|
|
BCAX
11
Bicara Therapeutics
BCAX
$1.55B
| $215M | 1.87% |
7,255,993
| – | – |
|
12
Mineralys Therapeutics
MLYS
$2.26B
| $208M | 1.8% |
7,692,750
| – | – |
|
13
GH Research
GHRS
$1.92B
| $205M | 1.78% |
7,636,813
-39,884
| -0.5% | -$833K |
|
14
Disc Medicine
IRON
$3.07B
| $179M | 1.56% |
2,450,221
| – | – |
|
|
SGP
15
SpyGlass Pharma
SGP
$884M
| $179M | 1.55% |
8,021,117
| – | – |
|
|
ARTV
16
Artiva Biotherapeutics
ARTV
$542M
| $174M | 1.51% |
17,955,642
+8,102,340
| +82% | +$73.8M |
|
17
Janux Therapeutics
JANX
$1.1B
| $172M | 1.49% |
11,189,693
| – | – |
|
18
Taysha Gene Therapies
TSHA
$1.88B
| $160M | 1.39% |
23,555,648
| – | – |
|
19
BioCryst Pharmaceuticals
BCRX
$2.51B
| $158M | 1.38% |
15,827,186
| – | – |
|
20
Wave Life Sciences
WVE
$993M
| $157M | 1.36% |
26,975,505
| – | – |
|
|
NUVL
21
DELISTED
Nuvalent
NUVL
| $154M | 1.34% |
1,246,456
-1,287,689
| -51% | -$138M |
|
|
ABVX
22
Abivax
ABVX
$9.89B
| $151M | 1.31% |
+1,132,557
| New | +$128M |
|
|
ORKA
23
Oruka Therapeutics
ORKA
$6.03B
| $148M | 1.29% |
+1,554,597
| New | +$104M |
|
|
CLYM
24
Climb Bio
CLYM
$837M
| $147M | 1.28% |
11,300,939
| – | – |
|
25
Solid Biosciences
SLDB
$1.05B
| $120M | 1.04% |
12,036,126
+2,696,148
| +29% | +$20.4M |
|
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RA Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, RA Capital Management held 101 positions worth $11.5B, up 22% from $9.44B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
RA Capital Management deployed $618M of net new capital in Q2 2026, opening 16 new positions and adding to 10 existing holdings. Its largest new stake was Parabilis Medicines Inc: 28,933,371 shares worth $792M.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, down from 100% a quarter earlier, followed by Financials and Miscellaneous.
On the sell side, the largest reduction was Nuvalent, an estimated $138M trimmed.
- RA Capital Management's largest Q2 2026 buy was Parabilis Medicines Inc: 28,933,371 shares worth $792M.
- RA Capital Management added most to Artiva Biotherapeutics in Q2 2026, an estimated $73.8M increase.
- RA Capital Management's biggest Q2 2026 reduction was Nuvalent, cutting an estimated $138M.
- RA Capital Management fully exited Dianthus Therapeutics in Q2 2026, selling an estimated $219M.
- RA Capital Management's ten largest holdings make up 60% of its $11.5B portfolio in Q2 2026.
- RA Capital Management opened 16 new positions and closed 17 in Q2 2026.
- RA Capital Management's portfolio value rose 22% quarter-over-quarter to $11.5B.
Based on RA Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.