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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 | |
|---|---|---|---|---|---|---|
51
Nkarta
NKTX
$198M
| $30.6M | 0.27% |
10,805,129
| – | – |
|
52
Q32 Bio
QTTB
$447M
| $29.7M | 0.26% |
+2,332,457
| New | +$19.5M |
|
|
AVR
53
Anteris Technologies
AVR
$852M
| $29.6M | 0.26% |
3,000,000
| – | – |
|
54
Editas Medicine
EDIT
$485M
| $28.8M | 0.25% |
+8,889,000
| New | +$26M |
|
55
Ovid Therapeutics
OVID
$547M
| $28.2M | 0.25% |
10,500,968
-213,032
| -2% | -$550K |
|
56
Assembly Biosciences
ASMB
$694M
| $28M | 0.24% |
1,020,410
| – | – |
|
57
ALX Oncology
ALXO
$277M
| $26.9M | 0.23% |
13,011,849
| – | – |
|
58
Benitec Biopharma
BNTC
$428M
| $24.8M | 0.22% |
1,850,000
| – | – |
|
|
LENZ
59
LENZ Therapeutics
LENZ
$161M
| $23.7M | 0.21% |
4,178,823
| – | – |
|
60
Lexeo Therapeutics
LXEO
$399M
| $23.3M | 0.2% |
5,000,000
| – | – |
|
61
Acrivon Therapeutics
ACRV
$88.3M
| $21.8M | 0.19% |
12,229,396
+3,888,888
| +47% | +$6.61M |
|
62
Altimmune
ALT
$605M
| $19.8M | 0.17% |
+6,500,000
| New | +$19.4M |
|
63
Karyopharm Therapeutics
KPTI
$42.4M
| $18.7M | 0.16% |
1,917,354
| – | – |
|
|
DRUG
64
Bright Minds Biosciences
DRUG
$714M
| $18.6M | 0.16% |
265,000
| – | – |
|
65
Avalo Therapeutics
AVTX
$1.05B
| $18.5M | 0.16% |
1,000,000
+337,032
| +51% | +$5.33M |
|
|
OKUR
66
OnKure Therapeutics
OKUR
$153M
| $18.2M | 0.16% |
3,998,333
| – | – |
|
|
FTH
67
Faeth Therapeutics
FTH
$874M
| $18.1M | 0.16% |
+722,020
| New | +$16.7M |
|
68
Aura Biosciences
AURA
$767M
| $17.8M | 0.15% |
+2,500,000
| New | +$17.9M |
|
69
SAB Biotherapeutics
SABS
$345M
| $17.2M | 0.15% |
4,401,500
| – | – |
|
|
SPTX
70
Seaport Therapeutics
SPTX
$1.29B
| $15.2M | 0.13% |
+700,000
| New | +$12.3M |
|
71
Palisade Bio
PALI
$349M
| $14.9M | 0.13% |
7,124,116
| – | – |
|
|
HLXC
72
Helix Acquisition Corp III
HLXC
$238M
| $13.3M | 0.12% |
1,250,000
| – | – |
|
|
WAY
73
Waystar Holding Corp
WAY
$5.03B
| $10.9M | 0.09% |
529,400
| – | – |
|
74
Equillium
EQ
$152M
| $9.91M | 0.09% |
3,096,336
| – | – |
|
75
MacroGenics
MGNX
$263M
| $8.61M | 0.07% |
1,864,176
| – | – |
|
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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.