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RCM

RA Capital Management Portfolio holdings

AUM $9.44B
1-Year Est. Return 157.3%
This Fund
S&P 500
This Quarter Est. Return
+13.87%
1 Year Est. Return
+157.3%
3 Year Est. Return
+589.39%
5 Year Est. Return
+654.96%
10 Year Est. Return
+50,915.53%
AUM
$5.94B
AUM Growth
-$52.2M
Cap. Flow
-$312M
Cap. Flow %
-5.26%
Top 10 Hldgs %
66.2%
Holding
90
New
5
Increased
10
Reduced
9
Closed
27

Top Buys

Rank Stock Value
1
CDTX
Cidara Therapeutics
CDTX
+$54.6M
2
RNAM
Avidity Biosciences
RNAM
+$28.8M
3
TSHA icon
Taysha Gene Therapies
TSHA
+$27.6M
4
JBIO
Jade Biosciences
JBIO
+$27.2M
5
TYRA icon
Tyra Biosciences
TYRA
+$14.8M

Top Sells

Rank Stock Value
1
APGE icon
Apogee Therapeutics
APGE
+$58.6M
2
ZLAB icon
Zai Lab
ZLAB
+$46.8M
3
DAWN
Day One Biopharmaceuticals
DAWN
+$45.6M
4
URGN icon
UroGen Pharma
URGN
+$35.5M
5
RYTM icon
Rhythm Pharmaceuticals
RYTM
+$32M

Sector Composition

Rank Sector Weight
1 Healthcare 99.82%
2 Financials 0.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DNTH icon
26
Dianthus Therapeutics
DNTH
$6.16B
$53.4M 0.9%
2,866,733
– –
RXST icon
27
RxSight
RXST
$252M
$48.1M 0.81%
3,702,967
-40,051
-1% -$602K
TRML
28
DELISTED
Tourmaline Bio
TRML
$40.6M 0.68%
2,538,925
– –
SRRK icon
29
Scholar Rock
SRRK
$5.87B
$40.3M 0.68%
1,136,453
– –
CLYM
30
Climb Bio
CLYM
$692M
$39M 0.66%
31,419,267
– –
GPCR icon
31
Structure Therapeutics
GPCR
$3.52B
$31.5M 0.53%
1,517,418
– –
SLDB icon
32
Solid Biosciences
SLDB
$836M
$28.3M 0.48%
5,811,323
+1,480,877
+34% +$5.24M
MTSR
33
DELISTED
Metsera Inc
MTSR
$19.2M 0.32%
675,525
– –
MNPR icon
34
Monopar Therapeutics
MNPR
$768M
$18.3M 0.31%
511,207
– –
NKTX icon
35
Nkarta
NKTX
$154M
$17.9M 0.3%
10,805,129
– –
LRMR icon
36
Larimar Therapeutics
LRMR
$398M
$17.5M 0.29%
6,045,351
– –
ABOS icon
37
Acumen Pharmaceuticals
ABOS
$157M
$17.3M 0.29%
14,932,063
– –
ELVN icon
38
Enliven Therapeutics
ELVN
$3.85B
$17M 0.29%
848,986
– –
TVTX icon
39
Travere Therapeutics
TVTX
$5.33B
$17M 0.29%
1,150,000
– –
FDMT icon
40
4D Molecular Therapeutics
FDMT
$526M
$16.9M 0.29%
4,563,211
– –
HNGE
41
Hinge Health
HNGE
$5.81B
$15.5M 0.26%
+300,000
New +$12.1M
ARTV
42
Artiva Biotherapeutics
ARTV
$507M
$14.9M 0.25%
9,853,302
– –
PEPG icon
43
PepGen
PEPG
$123M
$11.9M 0.2%
10,689,545
– –
JBIO
44
Jade Biosciences
JBIO
$1.22B
$10.6M 0.18%
1,062,326
+799,695
+304% +$27.2M
TNGX icon
45
Tango Therapeutics
TNGX
$4.49B
$10.2M 0.17%
+2,000,000
New +$4.95M
ACRV icon
46
Acrivon Therapeutics
ACRV
$65.1M
$9.93M 0.17%
8,340,508
– –
ELDN icon
47
Eledon Pharmaceuticals
ELDN
$263M
$9.66M 0.16%
3,566,338
– –
RCUS icon
48
Arcus Biosciences
RCUS
$3.55B
$9.25M 0.16%
1,136,364
– –
PCSC
49
DELISTED
Perceptive Capital Solutions
PCSC
$7.96M 0.13%
750,000
– –
OMDA
50
Omada Health Inc
OMDA
$1.17B
$7.32M 0.12%
+400,000
New +$6.92M
1
2
3 4

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NPT
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PVI
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WPL
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BAMF
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RA Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, RA Capital Management held 90 positions worth $5.94B, down 0.87% from $5.99B the previous quarter. Its ten largest holdings account for 66% of the portfolio.

RA Capital Management withdrew a net $312M in Q2 2025, closing 27 positions and reducing 9 holdings. Its most notable exit was Apogee Therapeutics, an estimated $58.6M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, down from 100% a quarter earlier, followed by Financials.

Against the trend, RA Capital Management opened a new position in Hinge Health worth $15.5M.

  • RA Capital Management's largest Q2 2025 buy was Hinge Health: 300,000 shares worth $15.5M.
  • RA Capital Management added most to Cidara Therapeutics in Q2 2025, an estimated $54.6M increase.
  • RA Capital Management's biggest Q2 2025 reduction was Rhythm Pharmaceuticals, cutting an estimated $32M.
  • RA Capital Management fully exited Apogee Therapeutics in Q2 2025, selling an estimated $58.6M.
  • RA Capital Management's ten largest holdings make up 66% of its $5.94B portfolio in Q2 2025.
  • RA Capital Management opened 5 new positions and closed 27 in Q2 2025.
  • RA Capital Management's portfolio value fell 0.87% quarter-over-quarter to $5.94B.

Based on RA Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.