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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
+42.12%
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
$9.76B
AUM Growth
+$1.65B
Cap. Flow
-$15.2M
Cap. Flow %
-0.16%
Top 10 Hldgs %
65.63%
Holding
88
New
21
Increased
14
Reduced
8
Closed
17

Top Buys

Rank Stock Value
1
BCRX icon
BioCryst Pharmaceuticals
BCRX
+$114M
2
RYTM icon
Rhythm Pharmaceuticals
RYTM
+$105M
3
RZLT icon
Rezolute
RZLT
+$72M
4
PRAX icon
Praxis Precision Medicines
PRAX
+$69.6M
5
EVMN
Evommune Inc
EVMN
+$65M

Top Sells

Rank Stock Value
1
ETNB
89bio
ETNB
+$292M
2
ACLX
Arcellx
ACLX
+$141M
3
PCVX icon
Vaxcyte
PCVX
+$55.5M
4
BLTE
Belite Bio
BLTE
+$52.4M
5
DNTH icon
Dianthus Therapeutics
DNTH
+$48.7M

Sector Composition

Rank Sector Weight
1 Healthcare 99.82%
2 Financials 0.1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EXAS
76
DELISTED
Exact Sciences
EXAS
– –
-54,939
Closed -$3.01M
GKOS icon
77
Glaukos
GKOS
$10B
– –
-54,180
Closed -$4.42M
GPCR icon
78
Structure Therapeutics
GPCR
$3.59B
– –
-1,517,418
Closed -$42.5M
IFRX icon
79
InflaRx
IFRX
$262M
– –
-1,973,233
Closed -$2.64M
LRMR icon
80
Larimar Therapeutics
LRMR
$433M
– –
-6,045,351
Closed -$19.5M
PRME icon
81
Prime Medicine
PRME
$556M
– –
-3,000,000
Closed -$16.6M
QURE icon
82
uniQure
QURE
$3.04B
– –
-200,000
Closed -$11.7M
RCUS icon
83
Arcus Biosciences
RCUS
$3.6B
– –
-1,136,364
Closed -$15.5M
SRRK icon
84
Scholar Rock
SRRK
$5.72B
– –
-1,166,788
Closed -$43.5M
SRZN icon
85
Surrozen
SRZN
$254M
– –
-602,626
Closed -$7.76M
TNGX icon
86
Tango Therapeutics
TNGX
$4.76B
– –
-2,000,000
Closed -$16.8M
TVTX icon
87
Travere Therapeutics
TVTX
$5.8B
– –
-1,150,000
Closed -$27.5M
MTSR
88
DELISTED
Metsera Inc
MTSR
– –
-675,525
Closed -$35.4M
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 Q4 2025 Portfolio in Review

As of Q4 2025, RA Capital Management held 88 positions worth $9.76B, up 20% from $8.12B the previous quarter. Its ten largest holdings account for 66% of the portfolio.

RA Capital Management's Q4 2025 filing shows 21 new, 14 increased, 8 reduced and 17 closed positions. Its largest new stake was BioCryst Pharmaceuticals: 15,827,186 shares worth $123M. The largest sale was 89bio, an estimated $292M.

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

  • RA Capital Management's largest Q4 2025 buy was BioCryst Pharmaceuticals: 15,827,186 shares worth $123M.
  • RA Capital Management added most to Rhythm Pharmaceuticals in Q4 2025, an estimated $105M increase.
  • RA Capital Management's biggest Q4 2025 reduction was Arcellx, cutting an estimated $141M.
  • RA Capital Management fully exited 89bio in Q4 2025, selling an estimated $292M.
  • RA Capital Management's ten largest holdings make up 66% of its $9.76B portfolio in Q4 2025.
  • RA Capital Management opened 21 new positions and closed 17 in Q4 2025.
  • RA Capital Management's portfolio value rose 20% quarter-over-quarter to $9.76B.

Based on RA Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.