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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 | |
|---|---|---|---|---|---|---|
76
Insmed
INSM
$21.4B
| – | – |
-200,000
| Closed | -$15.3M |
|
|
ITOS
77
DELISTED
iTeos Therapeutics
ITOS
| – | – |
-3,649,057
| Closed | -$21.8M |
|
78
Kura Oncology
KURA
$800M
| – | – |
-4,004,610
| Closed | -$26.4M |
|
79
Lexeo Therapeutics
LXEO
$324M
| – | – |
-546,554
| Closed | -$1.9M |
|
80
Nurix Therapeutics
NRIX
$2.41B
| – | – |
-1,333,333
| Closed | -$15.8M |
|
81
Scilex Holding
SCLX
$46.9M
| – | – |
-29,606
| Closed | -$258K |
|
82
Sera Prognostics
SERA
$79.9M
| – | – |
-3,032,808
| Closed | -$11.2M |
|
83
Sutro Biopharma
STRO
$401M
| – | – |
-443,464
| Closed | -$2.89M |
|
|
84
UroGen Pharma
URGN
$1.86B
| – | – |
-3,206,271
| Closed | -$35.5M |
|
85
Xencor
XNCR
$1.5B
| – | – |
-575,000
| Closed | -$6.12M |
|
|
86
Zai Lab
ZLAB
$2.06B
| – | – |
-1,295,040
| Closed | -$46.8M |
|
87
Zura Bio
ZURA
$516M
| – | – |
-3,217,503
| Closed | -$4.15M |
|
|
BOLD
88
Boundless Bio
BOLD
$56.2M
| – | – |
-2,180,631
| Closed | -$3.29M |
|
|
BIOA
89
BioAge Labs
BIOA
$402M
| – | – |
-1,052,494
| Closed | -$3.96M |
|
|
CBLL
90
CeriBell Inc
CBLL
$671M
| – | – |
-824,582
| Closed | -$15.8M |
|
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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.