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RA CAPITAL MANAGEMENT, L.P.

Institutional InvestorSimilar funds →SEC EDGAR: CIK 1346824
Institutional-grade research for retail investors

Sector Allocation

  • Healthcare99.5%$11.5B
  • Other0.3%$31.4M
  • Technology0.1%$10.9M
  • Financials0.1%$9.5M

AUM History

13fpro.ai/research/fund/ra-capital-management-l-p-1346824

Largest positions — Q2 2026

Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.

13fpro.ai/research/fund/ra-capital-management-l-p-1346824

RA CAPITAL MANAGEMENT, L.P. 13F holdings — Q2 2026

$11.5B portfolio (+21.9% QoQ) · 84 holdings · Q2 2026 13F · top 10 are 60% of the stock portfolio

All holdings — RA CAPITAL MANAGEMENT, L.P. (Q2 2026)

84 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.

Company
BCAX$BCAXBicara Therapeutics Inc.$215.4M—
MLYS$MLYSMineralys Therapeutics, Inc.$207.6M—
GHRS$GHRSGH Research PLC$205.3M-0.5%
IRON$IRONDisc Medicine, Inc.$179.2M—
SGP$SGPSpyGlass Pharma, Inc.$178.6M—
ARTV$ARTVArtiva Biotherapeutics, Inc.$174.2M+82%
JANX$JANXJanux Therapeutics, Inc.$171.9M—
TSHA$TSHATaysha Gene Therapies, Inc.$160.4M—
BCRX$BCRXBIOCRYST PHARMACEUTICALS INC$158.3M—
WVE$WVEWave Life Sciences, Inc.$156.7M—
NUVL$NUVLNuvalent, Inc.$153.9M-51%
ABVX$ABVXAbivax S.A.adr$150.9MNew
ORKA$ORKAOruka Therapeutics, Inc.$148.0MNew
CLYM$CLYMClimb Bio, Inc.$147.4M—
SLDB$SLDBSolid Biosciences Inc.$120.2M+29%

What changed in Q2 2026

Against the previous quarter's 13F: 16 new, 10 added to, 10 trimmed, 17 sold out. Share-count changes; largest moves by dollar size first.

New positions (16)

  • PBLS$PBLSParabilis Medicines, Inc.$791.9M

    first bought this quarter

  • COAG$COAGHemab Therapeutics Holdings, Inc.$286.8M

    first bought this quarter

  • ABVX$ABVXAbivax S.A.$150.9M

    first bought this quarter

  • ORKA$ORKAOruka Therapeutics, Inc.$148.0M

    first bought this quarter

  • NTLA$NTLAIntellia Therapeutics, Inc.$76.6M

    first bought this quarter

  • DFTX$DFTXDefinium Therapeutics, Inc.$70.6M

    first bought this quarter

+10 more in the Excel export

Added to (10)

  • ARTV$ARTVArtiva Biotherapeutics, Inc.+82%

    now $174.2M · held 8 qtrs

  • ACRS$ACRSAclaris Therapeutics, Inc.+87%

    now $67.3M · held 2 qtrs, 2 adds in a row

  • SLDB$SLDBSolid Biosciences Inc.+29%

    now $120.2M · held 10+ qtrs, 2 adds in a row

  • ACRV$ACRVAcrivon Therapeutics, Inc.+47%

    now $21.8M · held 10+ qtrs

  • AVTX$AVTXAvalo Therapeutics, Inc.+51%

    now $18.5M · held 8 qtrs

  • XNCR$XNCRXencor Inc+8%

    now $84.9M · held 2 qtrs, 2 adds in a row

+4 more in the Excel export

Trimmed (10)

  • NUVL$NUVLNuvalent, Inc.-51%

    now $153.9M · held 4 qtrs

  • EWTX$EWTXEdgewise Therapeutics, Inc.-20%

    now $341.0M · held 10+ qtrs

  • VOR$VORVor Biopharma Inc.-56%

    now $44.2M · held 10+ qtrs

  • GERN$GERNGERON CORP-33%

    now $54.8M · held 10+ qtrs

  • AKTS$AKTSAktis Oncology, Inc.-13%

    now $42.4M · held 2 qtrs

  • ACET$ACETAdicet Bio, Inc.-21%

    now $8.1M · held 10+ qtrs

+4 more in the Excel export

Sold out (17)

  • DNTH$DNTHDianthus Therapeutics, Inc. /DE/was $219.2M

    held 9+ qtrs

  • PRAX$PRAXPraxis Precision Medicines, Inc.was $120.4M

    held 2 qtrs

  • SRPT$SRPTSarepta Therapeutics, Inc.was $84.9M

    held 1 qtr

  • SYRE$SYRESpyre Therapeutics, Inc.was $81.8M

    held 2 qtrs

  • FULC$FULCFulcrum Therapeutics, Inc.was $46.4M
  • OLMA$OLMAOlema Pharmaceuticals, Inc.was $38.8M

+11 more in the Excel export

Firm AUM (Form ADV): $16.4B as of 2025-12-31 · SEC IAPD

Share

Holdings by quarter

Every 13F RA CAPITAL MANAGEMENT, L.P. has filed, 38 earlier quarters. Pick one to see what it held then.

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Is it too late to follow RA CAPITAL MANAGEMENT, L.P.?

Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.

Average quality of RA CAPITAL MANAGEMENT, L.P.'s top 20 holdings: 43/100 (our AI quality score, weighted by position size; 8 of the 20 are scored)

Top 10 since filing

-13.6%

Value-weighted move of the 10 largest stock positions

Turnover

11%

Last quarter; 37% over the last 4

Top 10 weight

60%

Share of the stock portfolio in its 10 largest positions

Held 4+ quarters

74%

Share of portfolio value in positions held a year or more

Highest-quality names it owns(among its 100 largest positions)

The 8 highest-scoring companies in this portfolio are a Pro feature.

How these are measured
  • Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
  • Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
  • Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
  • Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
  • Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.

Portfolio Overview

RA CAPITAL MANAGEMENT, L.P. disclosed 84 positions worth $11.5B in its Form 13F-HR for Q2 2026, led by $ASND (Ascendis Pharma A/S) at 23.8% of the equity portfolio, followed by $PBLS and $RYTM. During the quarter the fund opened 16 new positions and exited 17 — including a new stake in $PBLS and a full exit from $DNTH. The portfolio is most concentrated in Healthcare (99.5% of disclosed assets). All figures are sourced directly from RA CAPITAL MANAGEMENT, L.P.’s Form 13F-HR filing with the SEC under CIK 1346824.

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AI-Powered Hedge Fund Analysis: RA CAPITAL MANAGEMENT, L.P.

13F Pro is an AI hedge fund tracker and stock research platform. For RA CAPITAL MANAGEMENT, L.P. (SEC CIK: 1346824), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.

Every holding in RA CAPITAL MANAGEMENT, L.P.'s portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.