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RA Capital Management Portfolio holdings
AUM
$11.5B
Turnover
32.67%
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
Avg Time Held
1.7
years
Top 10 Avg Time Held
1.9
years
Top 20 Avg Time Held
1.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SpyGlass Pharma
SGP
|
+$216M |
| 2 |
Wave Life Sciences
WVE
|
+$114M |
| 3 |
Zai Lab
ZLAB
|
+$106M |
| 4 |
Sarepta Therapeutics
SRPT
|
+$75.5M |
| 5 |
Nuvalent
NUVL
|
+$66.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cidara Therapeutics
CDTX
|
+$743M |
| 2 |
RNAM
Avidity Biosciences
RNAM
|
+$623M |
| 3 |
Arcellx
ACLX
|
+$82.6M |
| 4 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
1
Ascendis Pharma A/S
ASND
$14.9B
| $2.35B | 24.92% |
10,281,496
| – | – |
2015 Q1
44 quarters
|
|
2
Vaxcyte
PCVX
$10.3B
| $667M | 7.07% |
11,474,599
+750,000
| +7% | +$40.7M |
2020 Q2
23 quarters
|
|
3
Rhythm Pharmaceuticals
RYTM
$6.06B
| $580M | 6.14% |
6,666,837
| – | – |
2018 Q2
31 quarters
|
|
4
Tyra Biosciences
TYRA
$1.31B
| $467M | 4.95% |
12,198,625
| – | – |
2021 Q3
18 quarters
|
|
5
Sionna Therapeutics
SION
$184M
| $397M | 4.21% |
9,905,045
| – | – |
2025 Q1
4 quarters
|
|
6
Edgewise Therapeutics
EWTX
$4.15B
| $328M | 3.48% |
10,428,437
| – | – |
2024 Q1
8 quarters
|
|
7
NewAmsterdam Pharma
NAMS
$2.46B
| $306M | 3.24% |
9,550,191
| – | – |
2022 Q4
13 quarters
|
|
|
8
DELISTED
Nuvalent
NUVL
| $260M | 2.75% |
2,534,145
+654,088
| +35% | +$66.7M |
2025 Q3
2 quarters
|
|
9
Dianthus Therapeutics
DNTH
$4.17B
| $219M | 2.32% |
2,611,733
+1,000,000
| +62% | +$57.9M |
2024 Q1
8 quarters
|
|
10
Mineralys Therapeutics
MLYS
$1.91B
| $208M | 2.21% |
7,692,750
+369,000
| +5% | +$10.8M |
2023 Q1
12 quarters
|
|
|
11
SpyGlass Pharma
SGP
$827M
| $208M | 2.2% |
+8,021,117
| New | +$216M |
2026 Q1
0 quarters
|
|
|
12
Wave Life Sciences
WVE
$629M
| $196M | 2.07% |
26,975,505
+8,772,496
| +48% | +$114M |
2015 Q4
41 quarters
|
|
13
Septerna Inc
SEPN
$1.75B
| $168M | 1.78% |
6,995,858
| – | – |
2024 Q4
5 quarters
|
|
14
Disc Medicine
IRON
$2.17B
| $157M | 1.66% |
2,450,221
+474,089
| +24% | +$32.9M |
2025 Q1
4 quarters
|
|
15
Janux Therapeutics
JANX
$1.06B
| $156M | 1.65% |
11,189,693
| – | – |
2021 Q2
19 quarters
|
|
16
BioCryst Pharmaceuticals
BCRX
$2.05B
| $151M | 1.6% |
15,827,186
| – | – |
2025 Q4
1 quarter
|
|
17
Bicara Therapeutics
BCAX
$1.17B
| $144M | 1.53% |
7,255,993
+300,000
| +4% | +$5.16M |
2024 Q3
6 quarters
|
|
18
Praxis Precision Medicines
PRAX
$6.93B
| $120M | 1.28% |
373,787
| – | – |
2025 Q4
1 quarter
|
|
19
GH Research
GHRS
$1.29B
| $108M | 1.14% |
7,676,697
| – | – |
2021 Q2
19 quarters
|
|
|
20
Zai Lab
ZLAB
$2.64B
| $107M | 1.14% |
+5,707,262
| New | +$106M |
2026 Q1
0 quarters
|
|
21
Taysha Gene Therapies
TSHA
$1.22B
| $105M | 1.12% |
23,555,648
| – | – |
2023 Q3
10 quarters
|
|
22
Vor Biopharma
VOR
$1.14B
| $96.4M | 1.02% |
5,404,998
| – | – |
2021 Q1
20 quarters
|
|
23
Geron
GERN
$790M
| $95M | 1.01% |
63,771,366
| – | – |
2020 Q2
23 quarters
|
|
24
ARS Pharmaceuticals
SPRY
$405M
| $87.2M | 0.92% |
10,860,977
| – | – |
2022 Q4
13 quarters
|
|
|
25
Sarepta Therapeutics
SRPT
$1.88B
| $84.9M | 0.9% |
+3,902,596
| New | +$75.5M |
2026 Q1
0 quarters
|
|
Similar funds
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.