RC
Ra Capital Management, L.p. Quarterly 13F Portfolio Update (Q2 2026)
Ra Capital Management, L.p.CIK: 0001346824
Diversified strategyContrarianHigh-turnover trader
Total reported value
$11.5B
Reporting period: 2026-06-30 · Number of holdings: 85
RA CAPITAL MANAGEMENT, L.P. disclosed 85 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $11.5B and a quarterly turnover rate of 87.6%.
Browse other institutions with $10B to $100B AUMBrowse other institutions starting with "R"
Personality snowflake
- Concentration
- 31.36
- Portfolio Stability
- 87.59
- Momentum
- 0
- Sector conviction
- 0
- Diversification
- 100
- Sizing Uniformity
- 76.22
Sector classification currently covers about 0% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out ASND
New buy K08588103
New buy 698955101
New buy 423494103
Sold out DNTH
Trim TYRA
0.0% -$77.6M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 84 holdings (of 85 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ✓ | Ascendis Pharma A/s | Stock-Other | 23.83% | +23.83% | NEW | |
| 2 | ✓ | Stock-Other | 6.88% | +6.88% | NEW | ||
| 3 | RYTM | Rhythm Pharmaceuticals Inc | Stock-Other | 6.43% | +0.29% | — | |
| 4 | PCVX | Vaxcyte Inc | Stock-Other | 5.80% | -1.27% | — | |
| 5 | SION | Sionna Therapeutics Inc | Stock-Other | 3.79% | -0.42% | — | |
| 6 | TYRA | Tyra Biosciences Inc | Stock-Other | 3.39% | -1.56% | — | |
| 7 | EWTX | Edgewise Therapeutics Inc | Stock-Other | 2.96% | -0.52% | -19.52% | |
| 8 | NAMS | NewAmsterdam Pharma Company N.V. | Stock-Other | 2.81% | -0.43% | — | |
| 9 | ✓ | Stock-Other | 2.49% | +2.49% | NEW | ||
| 10 | SEPN | Septerna Inc | Stock-Other | 2.04% | +0.26% | — | |
| 11 | BCAX | Bicara Therapeutics Inc | Stock-Other | 1.87% | +0.34% | — | |
| 12 | MLYS | Mineralys Therapeutics Inc | Stock-Other | 1.80% | -0.41% | — | |
| 13 | GHRS | GH Research PLC | Stock-Other | 1.78% | +0.64% | -0.52% | |
| 14 | IRON | Disc Medicine Inc | Stock-Other | 1.56% | -0.10% | — | |
| 15 | SGP | Spyglass Pharma Inc | Stock-Other | 1.55% | -0.65% | — | |
| 16 | ARTV | Artiva Biotherapeutics Inc | Stock-Other | 1.51% | +0.84% | +82.23% | |
| 17 | JANX | Janux Therapeutics Inc | Stock-Other | 1.49% | -0.16% | — | |
| 18 | TSHA | Taysha Gene Therapies Inc | Stock-Other | 1.39% | +0.27% | — | |
| 19 | BCRX | Biocryst Pharmaceuticals Inc | Stock-Other | 1.38% | -0.22% | — | |
| 20 | WVE | Wave Life Sciences Ltd. | Stock-Other | 1.36% | -0.71% | — | |
| 21 | NUVL | Nuvalent Inc-a | Stock-Other | 1.34% | -1.41% | -50.81% | |
| 22 | ABVX | Abivax Sa-adr | Stock-Other | 1.31% | +1.31% | NEW | |
| 23 | ORKA | Oruka Therapeutics Inc | Stock-Other | 1.29% | +1.29% | NEW | |
| 24 | CLYM | Climb Bio Inc | Stock-Other | 1.28% | +0.46% | — | |
| 25 | SLDB | Solid Biosciences Inc | Stock-Other | 1.04% | +0.33% | +28.87% | |
| 26 | ZLAB | Zai Lab Ltd-adr | Stock-Other | 0.95% | -0.19% | +0.64% | |
| 27 | SPRY | Ars Pharmaceuticals Inc | Stock-Other | 0.76% | -0.16% | — | |
| 28 | XNCR | Xencor Inc | Stock-Other | 0.74% | +0.11% | +7.70% | |
| 29 | JBIO | Jade Biosciences Inc | Stock-Other | 0.71% | +0.16% | — | |
| 30 | NTLA | Intellia Therapeutics Inc | Stock-Other | 0.67% | +0.67% | NEW | |
| 31 | LBRX | Lb Pharmaceuticals Inc | Stock-Other | 0.62% | +0.04% | — | |
| 32 | DFTX | Definium Therapeutics Inc | Stock-Other | 0.61% | +0.61% | NEW | |
| 33 | ACRS | Aclaris Therapeutics Inc | Stock-Other | 0.58% | +0.31% | +86.99% | |
| 34 | FDMT | 4d Molecular Therapeutics In | Stock-Other | 0.58% | +0.08% | — | |
| 35 | SANA | Sana Biotechnology Inc | Stock-Other | 0.57% | +0.57% | NEW | |
| 36 | DMRA | Damora Therapeutics Inc | Stock-Other | 0.54% | -0.12% | +0.02% | |
| 37 | MNPR | Monopar Therapeutics Inc | Stock-Other | 0.54% | +0.15% | — | |
| 38 | ABOS | Acumen Pharmaceuticals Inc | Stock-Other | 0.49% | -0.03% | — | |
| 39 | GERN | Geron CORP | Stock-Other | 0.48% | -0.53% | -32.87% | |
| 40 | RZLT | Rezolute Inc | Stock-Other | 0.43% | +0.13% | +2.89% | |
| 41 | EVMN | Evommune Inc | Stock-Other | 0.40% | -0.45% | — | |
| 42 | VOR | Vor Biopharma Inc | Stock-Other | 0.38% | -0.64% | -55.56% | |
| 43 | IPSC | Century Therapeutics Inc | Stock-Other | 0.38% | -0.05% | — | |
| 44 | AKTS | Aktis Oncology Inc | Stock-Other | 0.37% | +0.09% | -12.55% | |
| 45 | BIOA | Bioage Labs Inc | Stock-Other | 0.36% | +0.05% | +1.27% | |
| 46 | CCCC | C4 Therapeutics Inc | Stock-Other | 0.32% | +0.10% | — | |
| 47 | MIRM | Mirum Pharmaceuticals Inc | Stock-Other | 0.32% | +0.01% | — | |
| 48 | CAPR | Capricor Therapeutics Inc | Stock-Other | 0.32% | -0.17% | — | |
| 49 | PEPG | Pepgen Inc | Stock-Other | 0.31% | -0.07% | — | |
| 50 | PRLD | Prelude Therapeutics Inc | Stock-Other | 0.30% | +0.30% | NEW |
1–50 of 84
Portfolio Performance
Performance for Q3 2026
+6.2%
Performance Last 4 Quarters
+19.3%
- Stdev
- +31.5%
- Beta
- +1.13
- Alpha
- -10.4%
- Max Drawdown
- -45.1%
- Annualized Perf
- +7.9%
- Batting Avg vs S&P
- +36.1%
- Sortino
- +0.71
- Stutzer
- +0.12
- Treynor
- +0.11
- Sterling
- +0.26
- Calmar
- +0.17
- Information Ratio
- -0.28
- Tracking Error
- +27.9%
- Stdev Down
- +17.2%
- Winning Months %
- +50%
- Losing Months %
- +50%
- Best 12 Months
- +65.5%
- Worst 12 Months
- -38.9%
- Efficiency Ratio
- +0.11
- Sharpe
- +0.39
- Stdev Sectors
- —
- Skewness
- +0.8
- Kurtosis
- +0.55
- Upside Potential
- +2.7
Reported value over time
Sector allocation
Not enough sector-mapped data yet
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 85 | $11.5B | 88 | ||
| 2026 Q1 | 86 | $9.4B | 44 | ||
| 2025 Q4 | 72 | $9.8B | 43 | ||
| 2025 Q3 | 68 | $8.1B | 57 | ||
| 2025 Q2 | 64 | $5.9B | 0 | ||
| 2025 Q1 | 86 | $6.0B | 100 | ||
| 2024 Q4 | 90 | $7.5B | 0 | ||
| 2024 Q3 | 82 | $8.7B | 0 | ||
| 2024 Q2 | 79 | $7.6B | 0 | ||
| 2024 Q1 | 75 | $7.8B | 0 | ||
| 2023 Q4 | 62 | $6.4B | 0 | ||
| 2023 Q3 | 65 | $5.0B | 0 | ||
| 2023 Q2 | 54 | $5.3B | 0 | ||
| 2023 Q1 | 59 | $4.4B | 0 | ||
| 2022 Q4 | 70 | $4.9B | 0 | ||
| 2022 Q3 | 81 | $4.7B | 0 | ||
| 2022 Q2 | 88 | $3.8B | 0 | ||
| 2022 Q1 | 96 | $4.6B | 0 | ||
| 2021 Q4 | 97 | $5.7B | 0 | ||
| 2021 Q3 | 95 | $7.2B | 0 | ||
| 2021 Q2 | 92 | $6.2B | 49 | ||
| 2021 Q1 | 82 | $6.6B | 52 | ||
| 2020 Q4 | 82 | $7.2B | 59 | ||
| 2020 Q3 | 70 | $5.5B | 45 | ||
| 2020 Q2 | 57 | $5.1B | 74 | ||
| 2020 Q1 | 48 | $3.2B | 60 | ||
| 2019 Q4 | 34 | $3.3B | 84 | ||
| 2019 Q3 | 32 | $1.7B | 41 | ||
| 2019 Q2 | 25 | $1.9B | 43 | ||
| 2019 Q1 | 29 | $2.3B | 44 | ||
| 2018 Q4 | 25 | $1.7B | 50 | ||
| 2018 Q3 | 26 | $1.9B | 35 | ||
| 2018 Q2 | 27 | $1.5B | 47 | ||
| 2018 Q1 | 31 | $1.3B | 32 | ||
| 2017 Q4 | 27 | $1.2B | 67 | ||
| 2017 Q3 | 27 | $1.1B | 43 | ||
| 2017 Q2 | 22 | $871.4M | 50 | ||
| 2017 Q1 | 24 | $815.3M | 38 | ||
| 2016 Q4 | 26 | $687.2M | 60 | ||
| 2016 Q3 | 31 | $969.4M | 45 | ||
| 2016 Q2 | 32 | $722.2M | 34 | ||
| 2016 Q1 | 42 | $782.3M | 61 | ||
| 2015 Q4 | 37 | $1.0B | 67 | ||
| 2015 Q3 | 47 | $696.3M | 76 | ||
| 2015 Q2 | 59 | $994.1M | 66 | ||
| 2015 Q1 | 57 | $1.0B | 50 | ||
| 2014 Q4 | 51 | $930.5M | 70 | ||
| 2014 Q3 | 46 | $846.3M | 62 | ||
| 2014 Q2 | 28 | $989.3M | 71 | ||
| 2014 Q1 | 35 | $1.4B | 62 | ||
| 2013 Q4 | 31 | $858.5M | 69 | ||
| 2013 Q3 | 39 | $958.1M | 44 | ||
| 2013 Q2 | 29 | $754.0M | 0 |
Holding changes this quarter
Ra Capital Management, L.p.'s most significant position changes for 2026-06-30: New buy: Ascendis Pharma A/s; Sold out: Ascendis Pharma A/S (ASND); New buy: ; New buy: ; Sold out: Dianthus Therapeutics Inc (DNTH).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | Ascendis Pharma A/s | +23.8% | NEW | New buy |
| 2 | ✓ | +6.9% | NEW | New buy | |
| 3 | ✓ | +2.5% | NEW | New buy | |
| 4 | ABVX | Abivax Sa-adr | +1.3% | NEW | New buy |
| 5 | ORKA | Oruka Therapeutics Inc | +1.3% | NEW | New buy |
| 6 | ARTV | Artiva Biotherapeutics Inc | +0.8% | +82.23% | Add |
| 7 | NTLA | Intellia Therapeutics Inc | +0.7% | NEW | New buy |
| 8 | GHRS | GH Research PLC | +0.6% | -0.52% | Trim |
| 9 | DFTX | Definium Therapeutics Inc | +0.6% | NEW | New buy |
| 10 | SANA | Sana Biotechnology Inc | +0.6% | NEW | New buy |
| 11 | CLYM | Climb Bio Inc | +0.5% | — | Unchanged |
| 12 | BCAX | Bicara Therapeutics Inc | +0.3% | — | Unchanged |
| 13 | SLDB | Solid Biosciences Inc | +0.3% | +28.87% | Add |
| 14 | ACRS | Aclaris Therapeutics Inc | +0.3% | +86.99% | Add |
| 15 | PRLD | Prelude Therapeutics Inc | +0.3% | NEW | New buy |
| 16 | RYTM | Rhythm Pharmaceuticals Inc | +0.3% | — | Unchanged |
| 17 | TSHA | Taysha Gene Therapies Inc | +0.3% | — | Unchanged |
| 18 | SEPN | Septerna Inc | +0.3% | — | Unchanged |
| 19 | QTTB | Q32 Bio Inc | +0.3% | NEW | New buy |
| 20 | EDIT | Editas Medicine Inc | +0.3% | NEW | New buy |
| 21 | ALT | Altimmune Inc | +0.2% | NEW | New buy |
| 22 | JBIO | Jade Biosciences Inc | +0.2% | — | Unchanged |
| 23 | FTH | Faeth Therapeutics Inc | +0.2% | NEW | New buy |
| 24 | MNPR | Monopar Therapeutics Inc | +0.2% | — | Unchanged |
| 25 | AURA | Aura Biosciences Inc | +0.2% | NEW | New buy |
| 26 | RZLT | Rezolute Inc | +0.1% | +2.89% | Add |
| 27 | ✓ | +0.1% | NEW | New buy | |
| 28 | XNCR | Xencor Inc | +0.1% | +7.70% | Add |
| 29 | CCCC | C4 Therapeutics Inc | +0.1% | — | Unchanged |
| 30 | AKTS | Aktis Oncology Inc | +0.1% | -12.55% | Trim |
| 31 | FDMT | 4d Molecular Therapeutics In | +0.1% | — | Unchanged |
| 32 | AVR | Anteris Technologies Global | +0.1% | — | Unchanged |
| 33 | ACRV | Acrivon Therapeutics Inc | +0.1% | +46.63% | Add |
| 34 | AVTX | Avalo Therapeutics Inc | +0.1% | +50.84% | Add |
| 35 | BIOA | Bioage Labs Inc | +0.1% | +1.27% | Add |
| 36 | KPTI | Karyopharm Therapeutics Inc | +0.1% | — | Unchanged |
| 37 | ✓ | +0.1% | NEW | New buy | |
| 38 | LBRX | Lb Pharmaceuticals Inc | 0% | — | Unchanged |
| 39 | NKTX | Nkarta Inc | 0% | — | Unchanged |
| 40 | ✓ | 0% | NEW | New buy | |
| 41 | EQ | Equillium Inc | 0% | — | Unchanged |
| 42 | MIRM | Mirum Pharmaceuticals Inc | 0% | — | Unchanged |
| 43 | BNTC | Benitec Biopharma Inc | 0% | — | Unchanged |
| 44 | MGNX | Macrogenics Inc | 0% | — | Unchanged |
| 45 | OVID | Ovid Therapeutics Inc | — | -1.99% | Trim |
| 46 | PALI | Palisade Bio Inc | — | — | Unchanged |
| 47 | PTN | Palatin Technologies Inc | — | -11.25% | Trim |
| 48 | ✓ | Helix Acquisition CORP Iii | 0% | — | Unchanged |
| 49 | ✓ | Newamsterdam Pharma Company | 0% | — | Unchanged |
| 50 | RANI | Rani Therapeutics Holdings-a | 0% | — | Unchanged |
1–50 of 102
Filing History
FAQ
What is Ra Capital Management, L.p. and what type of investor is it?
Ra Capital Management, L.p. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $11.5B, spread across 85 disclosed positions.
What are Ra Capital Management, L.p.'s largest equity positions?
Based on the latest 13F filing, Ra Capital Management, L.p.'s top holdings by market value are:
1. Ascendis Pharma A/s — $2.7B (23.8%)
2. — $791.9M (6.9%)
3. Rhythm Pharmaceuticals Inc (RYTM) — $740.2M (6.4%)
4. Vaxcyte Inc (PCVX) — $667.0M (5.8%)
5. Sionna Therapeutics Inc (SION) — $435.7M (3.8%)
What changes did Ra Capital Management, L.p. make in its most recent portfolio filing?
In the latest reported quarter, Ra Capital Management, L.p. made 55 notable position adjustments: 17 new positions were initiated, 10 existing holdings were added to, 10 positions were partially reduced, and 18 were completely exited. The largest of these moves: New buy: Ascendis Pharma A/s; Sold out: Ascendis Pharma A/S (ASND); New buy: ; New buy: ; Sold out: Dianthus Therapeutics Inc (DNTH)
What sectors does Ra Capital Management, L.p. focus on?
Sector breakdown data is not yet available for Ra Capital Management, L.p.. Check back after the next 13F processing cycle.
Investment Profile
Ra Capital Management, L.p. returned an annualized 7.9% over the trailing 36 months — underperforming the S&P 500 by 10.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.13 (more volatile than the market) and a 36% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading.
Its turnover score has risen from 0 to 88 over the past 4 quarters — a shift toward more active trading.
It has added to its PCVX position over the past two quarters (+$172.2M, now $667.0M), while trimming WVE over the same stretch (-$152.7M, still holding $156.7M).
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Developer Access
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REST API
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