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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
(-0.87%)
Cap. Flow
-$312M
Cap. Flow
% of AUM
-5.26%
Top 10 Holdings %
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 |
Taysha Gene Therapies
TSHA
|
+$27.6M |
| 4 |
JBIO
Jade Biosciences
JBIO
|
+$27.2M |
| 5 |
Tyra Biosciences
TYRA
|
+$14.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apogee Therapeutics
APGE
|
+$58.6M |
| 2 |
Zai Lab
ZLAB
|
+$46.8M |
| 3 |
DAWN
Day One Biopharmaceuticals
DAWN
|
+$45.6M |
| 4 |
UroGen Pharma
URGN
|
+$35.5M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
51
Werewolf Therapeutics
HOWL
$17.2M
| $7.28M | 0.12% |
6,681,307
+536,426
| +9% | +$552K |
|
|
BBNX
52
Beta Bionics
BBNX
$577M
| $7.28M | 0.12% |
500,000
| – | – |
|
53
CytomX Therapeutics
CTMX
$675M
| $6.04M | 0.1% |
2,661,331
+1,661,331
| +166% | +$2.68M |
|
54
10x Genomics
TXG
$6B
| $5.5M | 0.09% |
475,343
-1,468,904
| -76% | -$13.4M |
|
55
Surrozen
SRZN
$258M
| $5.39M | 0.09% |
602,626
-76,504
| -11% | -$699K |
|
56
GeneDx Holdings
WGS
$1.93B
| $5.36M | 0.09% |
+58,044
| New | +$4.56M |
|
57
Avalo Therapeutics
AVTX
$965M
| $4.66M | 0.08% |
932,973
-34,027
| -4% | -$159K |
|
58
Adicet Bio
ACET
$85.2M
| $4.6M | 0.08% |
471,313
| – | – |
|
|
MBX
59
MBX Biosciences
MBX
$3.14B
| $4.31M | 0.07% |
377,841
-1,133,493
| -75% | -$11.5M |
|
60
Protara Therapeutics
TARA
$220M
| $3.15M | 0.05% |
1,039,295
-2,360,705
| -69% | -$8.14M |
|
61
NewAmsterdam Pharma Warrant
NAMSW
| $2.67M | 0.04% |
333,333
| – | – |
|
62
Acadia Healthcare
ACHC
$2.76B
| $2.03M | 0.03% |
89,262
-127,738
| -59% | -$3.03M |
|
63
InflaRx
IFRX
$250M
| $1.56M | 0.03% |
+1,973,233
| New | +$2.33M |
|
64
Aclaris Therapeutics
ACRS
$726M
| – | – |
-4,666,667
| Closed | -$7.14M |
|
65
Alector
ALEC
$168M
| – | – |
-9,695,228
| Closed | -$11.9M |
|
|
66
Apogee Therapeutics
APGE
$10.1B
| – | – |
-1,569,491
| Closed | -$58.6M |
|
|
ATXS
67
DELISTED
Astria Therapeutics
ATXS
| – | – |
-5,105,213
| Closed | -$27.3M |
|
|
BCYC
68
Bicycle Therapeutics
BCYC
$269M
| – | – |
-1,093,477
| Closed | -$9.28M |
|
|
DAWN
69
DELISTED
Day One Biopharmaceuticals
DAWN
| – | – |
-5,755,577
| Closed | -$45.6M |
|
|
DRUG
70
Bright Minds Biosciences
DRUG
$719M
| – | – |
-206,427
| Closed | -$7.45M |
|
71
EyePoint Inc
EYPT
$1.03B
| – | – |
-3,181,818
| Closed | -$17.2M |
|
72
Glaukos
GKOS
$9.83B
| – | – |
-190,256
| Closed | -$18.7M |
|
73
Humacyte
HUMA
$176M
| – | – |
-3,312,356
| Closed | -$5.65M |
|
74
IDEAYA Biosciences
IDYA
$3.42B
| – | – |
-1,347,252
| Closed | -$22.1M |
|
75
Immatics
IMTX
$1.18B
| – | – |
-1,750,000
| Closed | -$7.89M |
|
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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.