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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
+8.63%
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
$9.44B
AUM Growth
-$323M
(-3.3%)
Cap. Flow
-$311M
Cap. Flow
% of AUM
-3.3%
Top 10 Holdings %
Top 10 Hldgs %
61.29%
Holding
95
New
24
Increased
17
Reduced
2
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SGP
SpyGlass Pharma
SGP
|
+$216M |
| 2 |
Wave Life Sciences
WVE
|
+$114M |
| 3 |
Zai Lab
ZLAB
|
+$106M |
| 4 |
Sarepta Therapeutics
SRPT
|
+$75.5M |
| 5 |
NUVL
Nuvalent
NUVL
|
+$66.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CDTX
Cidara Therapeutics
CDTX
|
+$743M |
| 2 |
RNAM
Avidity Biosciences
RNAM
|
+$623M |
| 3 |
ACLX
Arcellx
ACLX
|
+$82.6M |
| 4 |
BLTE
Belite Bio
BLTE
|
+$69.2M |
| 5 |
Invivyd
IVVD
|
+$42.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.71% |
| 2 | Financials | 0.22% |
| 3 | Miscellaneous | 0.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
ALX Oncology
ALXO
$283M
| $26.1M | 0.28% |
+13,011,849
| New | +$24.8M |
|
52
Aclaris Therapeutics
ACRS
$907M
| $25.5M | 0.27% |
+6,804,072
| New | +$23M |
|
53
Ovid Therapeutics
OVID
$572M
| $23.8M | 0.25% |
10,714,000
| – | – |
|
54
Nkarta
NKTX
$197M
| $22.8M | 0.24% |
10,805,129
| – | – |
|
55
Travere Therapeutics
TVTX
$6.36B
| $22.2M | 0.24% |
+746,841
| New | +$22.3M |
|
|
GRAL
56
GRAIL Inc
GRAL
$3.68B
| $22.1M | 0.23% |
428,266
| – | – |
|
57
C4 Therapeutics
CCCC
$504M
| $21M | 0.22% |
8,000,000
| – | – |
|
58
Relmada Therapeutics
RLMD
$482M
| $20.5M | 0.22% |
+2,947,369
| New | +$13.9M |
|
59
Benitec Biopharma
BNTC
$435M
| $19.7M | 0.21% |
1,850,000
| – | – |
|
|
DRUG
60
Bright Minds Biosciences
DRUG
$731M
| $19.3M | 0.2% |
+265,000
| New | +$21.3M |
|
61
Sutro Biopharma
STRO
$353M
| $17.8M | 0.19% |
+715,307
| New | +$12.9M |
|
|
CTNM
62
Contineum Therapeutics
CTNM
$649M
| $16.9M | 0.18% |
1,296,012
-883,699
| -41% | -$11.9M |
|
63
SAB Biotherapeutics
SABS
$358M
| $16.9M | 0.18% |
4,401,500
| – | – |
|
64
Inspire Medical Systems
INSP
$1.76B
| $16.8M | 0.18% |
325,663
+183,699
| +129% | +$12.9M |
|
|
AVR
65
Anteris Technologies
AVR
$874M
| $16.6M | 0.18% |
+3,000,000
| New | +$17.2M |
|
|
OKUR
66
OnKure Therapeutics
OKUR
$155M
| $16.6M | 0.18% |
+3,998,333
| New | +$12.3M |
|
|
HNGE
67
Hinge Health
HNGE
$7.49B
| $14.1M | 0.15% |
364,613
+284,500
| +355% | +$11.8M |
|
68
GeneDx Holdings
WGS
$2.66B
| $13.5M | 0.14% |
209,887
+151,843
| +262% | +$13.8M |
|
|
WAY
69
Waystar Holding Corp
WAY
$4.84B
| $12.8M | 0.14% |
529,400
+385,000
| +267% | +$10.2M |
|
|
HLXC
70
Helix Acquisition Corp III
HLXC
$240M
| $12.7M | 0.13% |
+1,250,000
| New | +$12.8M |
|
71
Palisade Bio
PALI
$368M
| $12.5M | 0.13% |
7,124,116
| – | – |
|
72
Acrivon Therapeutics
ACRV
$92.1M
| $11.6M | 0.12% |
8,340,508
| – | – |
|
|
RNA
73
Atrium Therapeutics
RNA
$239M
| $11.6M | 0.12% |
+864,102
| New | +$12.1M |
|
74
Karyopharm Therapeutics
KPTI
$44M
| $10.7M | 0.11% |
+1,917,354
| New | +$14.6M |
|
75
Avalo Therapeutics
AVTX
$1.08B
| $9.9M | 0.1% |
662,968
| – | – |
|
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RA Capital Management's Q1 2026 Portfolio in Review
As of Q1 2026, RA Capital Management held 95 positions worth $9.44B, down 3.3% from $9.76B the previous quarter. Its ten largest holdings account for 61% of the portfolio.
RA Capital Management withdrew a net $311M in Q1 2026, closing 10 positions and reducing 2 holdings. Its most notable exit was Cidara Therapeutics, an estimated $743M 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 and Miscellaneous.
Against the trend, RA Capital Management opened a new position in SpyGlass Pharma worth $208M.
- RA Capital Management's largest Q1 2026 buy was SpyGlass Pharma: 8,021,117 shares worth $208M.
- RA Capital Management added most to Wave Life Sciences in Q1 2026, an estimated $114M increase.
- RA Capital Management's biggest Q1 2026 reduction was Contineum Therapeutics, cutting an estimated $11.9M.
- RA Capital Management fully exited Cidara Therapeutics in Q1 2026, selling an estimated $743M.
- RA Capital Management's ten largest holdings make up 61% of its $9.44B portfolio in Q1 2026.
- RA Capital Management opened 24 new positions and closed 10 in Q1 2026.
- RA Capital Management's portfolio value fell 3.3% quarter-over-quarter to $9.44B.
Based on RA Capital Management's 13F filing for Q1 2026, filed 15 May 2026.