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RA Capital Management Portfolio holdings
AUM
$11.5B
Turnover
32.67%
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
Cap. Flow %
5.37%
Top 10 Holdings %
Top 10 Hldgs %
60.42%
Holding
101
New
16
Increased
10
Reduced
10
Closed
17
Avg Time Held
1.8
years
Top 10 Avg Time Held
2.1
years
Top 20 Avg Time Held
1.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PBLS
Parabilis Medicines Inc
PBLS
|
+$799M |
| 2 |
Hemab Therapeutics
COAG
|
+$215M |
| 3 |
Abivax
ABVX
|
+$128M |
| 4 |
Oruka Therapeutics
ORKA
|
+$104M |
| 5 |
Artiva Biotherapeutics
ARTV
|
+$73.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dianthus Therapeutics
DNTH
|
+$219M |
| 2 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
1
Ascendis Pharma A/S
ASND
$14.8B
| $2.74B | 23.83% |
10,281,496
| – | – |
2015 Q1
45 quarters
|
|
|
PBLS
2
Parabilis Medicines Inc
PBLS
$2.81B
| $792M | 6.88% |
+28,933,371
| New | +$799M |
2026 Q2
0 quarters
|
|
3
Rhythm Pharmaceuticals
RYTM
$5.93B
| $740M | 6.43% |
6,666,837
| – | – |
2018 Q2
32 quarters
|
|
4
Vaxcyte
PCVX
$10B
| $667M | 5.8% |
11,474,599
| – | – |
2020 Q2
24 quarters
|
|
5
Sionna Therapeutics
SION
$176M
| $436M | 3.79% |
9,905,045
| – | – |
2025 Q1
5 quarters
|
|
6
Tyra Biosciences
TYRA
$1.27B
| $390M | 3.39% |
12,198,625
| – | – |
2021 Q3
19 quarters
|
|
7
Edgewise Therapeutics
EWTX
$4.04B
| $341M | 2.96% |
8,392,730
-2,035,707
| -20% | -$70.2M |
2024 Q1
9 quarters
|
|
8
NewAmsterdam Pharma
NAMS
$2.37B
| $324M | 2.81% |
9,550,191
| – | – |
2022 Q4
14 quarters
|
|
|
9
Hemab Therapeutics
COAG
$1.4B
| $287M | 2.49% |
+7,808,627
| New | +$215M |
2026 Q2
0 quarters
|
|
10
Septerna Inc
SEPN
$1.7B
| $234M | 2.04% |
6,995,858
| – | – |
2024 Q4
6 quarters
|
|
11
Bicara Therapeutics
BCAX
$1.11B
| $215M | 1.87% |
7,255,993
| – | – |
2024 Q3
7 quarters
|
|
12
Mineralys Therapeutics
MLYS
$1.79B
| $208M | 1.8% |
7,692,750
| – | – |
2023 Q1
13 quarters
|
|
13
GH Research
GHRS
$1.25B
| $205M | 1.78% |
7,636,813
-39,884
| -0.5% | -$833K |
2021 Q2
20 quarters
|
|
14
Disc Medicine
IRON
$2.18B
| $179M | 1.56% |
2,450,221
| – | – |
2025 Q1
5 quarters
|
|
15
SpyGlass Pharma
SGP
$803M
| $179M | 1.55% |
8,021,117
| – | – |
2026 Q1
1 quarter
|
|
|
16
Artiva Biotherapeutics
ARTV
$286M
| $174M | 1.51% |
17,955,642
+8,102,340
| +82% | +$73.8M |
2024 Q3
7 quarters
|
|
17
Janux Therapeutics
JANX
$1.01B
| $172M | 1.49% |
11,189,693
| – | – |
2021 Q2
20 quarters
|
|
18
Taysha Gene Therapies
TSHA
$1.18B
| $160M | 1.39% |
23,555,648
| – | – |
2023 Q3
11 quarters
|
|
19
BioCryst Pharmaceuticals
BCRX
$1.99B
| $158M | 1.38% |
15,827,186
| – | – |
2025 Q4
2 quarters
|
|
20
Wave Life Sciences
WVE
$617M
| $157M | 1.36% |
26,975,505
| – | – |
2015 Q4
42 quarters
|
|
|
21
DELISTED
Nuvalent
NUVL
| $154M | 1.34% |
1,246,456
-1,287,689
| -51% | -$138M |
2025 Q3
3 quarters
|
|
|
22
Abivax
ABVX
$7.69B
| $151M | 1.31% |
+1,132,557
| New | +$128M |
2026 Q2
0 quarters
|
|
|
23
Oruka Therapeutics
ORKA
$4.76B
| $148M | 1.29% |
+1,554,597
| New | +$104M |
2026 Q2
0 quarters
|
|
24
Climb Bio
CLYM
$564M
| $147M | 1.28% |
11,300,939
| – | – |
2021 Q3
19 quarters
|
|
25
Solid Biosciences
SLDB
$593M
| $120M | 1.04% |
12,036,126
+2,696,148
| +29% | +$20.4M |
2018 Q1
33 quarters
|
|
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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.