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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
-14.03%
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
$5.99B
AUM Growth
-$1.53B
Cap. Flow
+$245M
Cap. Flow %
4.09%
Top 10 Hldgs %
62.92%
Holding
100
New
11
Increased
14
Reduced
4
Closed
15

Top Buys

Rank Stock Value
1
PCVX icon
Vaxcyte
PCVX
+$280M
2
SION
Sionna Therapeutics
SION
+$171M
3
IRON icon
Disc Medicine
IRON
+$87.7M
4
GERN icon
Geron
GERN
+$74M
5
ETNB
89bio
ETNB
+$50M

Top Sells

Rank Stock Value
1
LEGN icon
Legend Biotech
LEGN
+$244M
2
XBI icon
State Street SPDR S&P Biotech ETF
XBI
+$111M
3
AXSM icon
Axsome Therapeutics
AXSM
+$84.6M
4
VRNA
Verona Pharma
VRNA
+$82.1M
5
PRAX icon
Praxis Precision Medicines
PRAX
+$58.6M

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
ASND icon
1
Ascendis Pharma A/S
ASND
$16.5B
$1.6B 26.76%
10,281,496
+168,752
+2% +$24.1M
PCVX icon
2
Vaxcyte
PCVX
$7.65B
$460M 7.69%
12,189,149
+3,499,959
+40% +$280M
RYTM icon
3
Rhythm Pharmaceuticals
RYTM
$7.31B
$322M 5.38%
6,084,412
– –
JANX icon
4
Janux Therapeutics
JANX
$912M
$302M 5.05%
11,189,693
+824,041
+8% +$31.1M
NAMS icon
5
NewAmsterdam Pharma
NAMS
$3.26B
$208M 3.47%
10,138,938
+1,293,938
+15% +$28.8M
ACLX
6
DELISTED
Arcellx
ACLX
$199M 3.33%
3,036,527
+249,200
+9% +$16.9M
EWTX icon
7
Edgewise Therapeutics
EWTX
$4.28B
$196M 3.27%
8,909,091
– –
RNAM
8
DELISTED
Avidity Biosciences
RNAM
$186M 3.11%
6,300,408
– –
WVE icon
9
Wave Life Sciences
WVE
$1.12B
$147M 2.46%
18,202,009
– –
ETNB
10
DELISTED
89bio
ETNB
$145M 2.41%
19,889,683
+5,714,285
+40% +$50M
SPRY icon
11
ARS Pharmaceuticals
SPRY
$579M
$137M 2.28%
10,860,977
– –
SION
12
Sionna Therapeutics
SION
$2.02B
$109M 1.82%
+10,445,322
New +$171M
LENZ
13
LENZ Therapeutics
LENZ
$179M
$107M 1.79%
4,178,823
– –
DYN icon
14
Dyne Therapeutics
DYN
$4.15B
$102M 1.7%
9,714,392
+3,333,248
+52% +$47.7M
TYRA icon
15
Tyra Biosciences
TYRA
$1.85B
$98.9M 1.65%
10,637,290
– –
MLYS icon
16
Mineralys Therapeutics
MLYS
$2.32B
$97.6M 1.63%
6,147,280
+1,296,296
+27% +$14.9M
GERN icon
17
Geron
GERN
$898M
$96M 1.6%
60,379,366
+30,369,830
+101% +$74M
RXST icon
18
RxSight
RXST
$254M
$94.5M 1.58%
3,743,018
– –
BCAX
19
Bicara Therapeutics
BCAX
$1.7B
$90.6M 1.51%
6,955,993
– –
IRON icon
20
Disc Medicine
IRON
$2.81B
$78.3M 1.31%
+1,577,106
New +$87.7M
GHRS icon
21
GH Research
GHRS
$1.92B
$76.6M 1.28%
6,944,648
+257,959
+4% +$2.88M
APGE icon
22
Apogee Therapeutics
APGE
$10.1B
$58.6M 0.98%
1,569,491
– –
DNTH icon
23
Dianthus Therapeutics
DNTH
$5.69B
$52M 0.87%
2,866,733
+1,000,333
+54% +$22M
ZLAB icon
24
Zai Lab
ZLAB
$2.07B
$46.8M 0.78%
1,295,040
– –
DAWN
25
DELISTED
Day One Biopharmaceuticals
DAWN
$45.6M 0.76%
5,755,577
– –
1
2 3 4

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RA Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, RA Capital Management held 100 positions worth $5.99B, down 20% from $7.51B the previous quarter. Its ten largest holdings account for 63% of the portfolio.

RA Capital Management deployed $245M of net new capital in Q1 2025, opening 11 new positions and adding to 14 existing holdings. Its largest new stake was Sionna Therapeutics: 10,445,322 shares worth $109M.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 98% a quarter earlier, followed by Financials.

On the sell side, the largest reduction was 10x Genomics, an estimated $16.8M trimmed.

  • RA Capital Management's largest Q1 2025 buy was Sionna Therapeutics: 10,445,322 shares worth $109M.
  • RA Capital Management added most to Vaxcyte in Q1 2025, an estimated $280M increase.
  • RA Capital Management's biggest Q1 2025 reduction was 10x Genomics, cutting an estimated $16.8M.
  • RA Capital Management fully exited Legend Biotech in Q1 2025, selling an estimated $244M.
  • RA Capital Management's ten largest holdings make up 63% of its $5.99B portfolio in Q1 2025.
  • RA Capital Management opened 11 new positions and closed 15 in Q1 2025.
  • RA Capital Management's portfolio value fell 20% quarter-over-quarter to $5.99B.

Based on RA Capital Management's 13F filing for Q1 2025, filed 15 May 2025.