RA CAPITAL MANAGEMENT, L.P.

CIK

1346824

Location

BOSTON, MA

Portfolio Value

Mid $9,431,068,368

Diversification

Diversified

Filing Date

Global Rank

#435 / 8,603 ▲ 44 · as of Mar 2026

Top Industry

Biotechnology 96.9%

3Y Alpha vs SPY

+9.4%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+126.9%

SPY

+76.5%

Annualised alpha

+10.5%

Max drawdown

−48.8%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

84 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

24.9%

−1.3 pts

Top 5

47.3%

−2.3 pts

Top 10

61.3%

−4.5 pts

HHI

832

Diversified−96

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	99.8%	$9,410,140,868	82
Financial Services	0.2%	$20,927,500	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

17 positions

Ticker	Company	Δ Shares	Shares	Value
WVE	Wave Life Sciences Ltd.	+8,772,496	26,975,505	$195,572,411
ABOS	Acumen Pharmaceuticals, Inc.	+6,060,606	20,992,669	$49,542,698
SLDB	Solid Biosciences Inc.	+3,528,555	9,339,978	$67,247,841
DSGN	Design Therapeutics, Inc.	+1,511,592	2,972,973	$31,632,432
DNTH	Dianthus Therapeutics, Inc. /DE/	+1,000,000	2,611,733	$219,176,633
PCVX	Vaxcyte, Inc.	+750,000	11,474,599	$666,788,947
NUVL	Nuvalent, Inc.	+654,088	2,534,145	$259,623,155
IRON	Disc Medicine, Inc.	+474,089	2,450,221	$156,667,130
WAY	Waystar Holding Corp.	+385,000	529,400	$12,763,834
MLYS	Mineralys Therapeutics, Inc.	+369,000	7,692,750	$208,396,597
BCAX	Bicara Therapeutics Inc.	+300,000	7,255,993	$144,321,700
HNGE	Hinge Health, Inc.	+284,500	364,613	$14,059,477
ACET	Adicet Bio, Inc.	+234,375	1,182,624	$8,053,669
INSP	Inspire Medical Systems, Inc.	+183,699	325,663	$16,797,697
WGS	GeneDx Holdings Corp.	+151,843	209,887	$13,478,943
EVMN	Evommune, Inc.	+35,868	3,494,638	$80,341,727
CLYM	Climb Bio, Inc.	+7,111	11,300,939	$77,411,431
No positions match the current search.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
CTNM	Contineum Therapeutics, Inc.	−883,699	1,296,012	$16,925,916
FDMT	4D Molecular Therapeutics, Inc.	−603,432	5,049,779	$47,013,442
No positions match the current search.

New Positions

Positions the filer opened this quarter

24 positions

Ticker	Company	Shares	Value
SGP	SpyGlass Pharma, Inc.	8,021,117	$207,827,141
ZLAB	Zai Lab Ltd	5,707,262	$107,353,598
SRPT	Sarepta Therapeutics, Inc.	3,902,596	$84,920,488
DMRA	Damora Therapeutics, Inc.	2,399,310	$62,142,129
XNCR	Xencor Inc	4,897,237	$59,060,678
IPSC	Century Therapeutics, Inc.	17,754,430	$40,125,011
MIRM	Mirum Pharmaceuticals, Inc.	318,554	$29,428,018
BIOA	BioAge Labs, Inc.	1,650,648	$28,869,833
AKTS	Aktis Oncology, Inc.	1,503,084	$26,890,172
ALXO	Alx Oncology Holdings Inc	13,011,849	$26,088,757
ACRS	Aclaris Therapeutics, Inc.	6,804,072	$25,515,270
TVTX	Travere Therapeutics, Inc.	746,841	$22,188,646
RLMD	Relmada Therapeutics, Inc.	2,947,369	$20,513,688
DRUG	Bright Minds Biosciences Inc.	265,000	$19,337,050
STRO	Sutro Biopharma, Inc.	715,307	$17,818,297
AVR	Anteris Technologies Global Corp.	3,000,000	$16,650,000
OKUR	OnKure Therapeutics, Inc.	3,998,333	$16,553,098
HLXC	Helix Acquisition Corp. III	1,250,000	$12,700,000
RNA	Atrium Therapeutics, Inc.	864,102	$11,553,043
KPTI	Karyopharm Therapeutics Inc.	1,917,354	$10,679,661
CRVS	Corvus Pharmaceuticals, Inc.	450,000	$6,583,500
EQ	Equillium, Inc.	3,096,336	$6,192,672
MGNX	Macrogenics Inc	1,864,176	$5,387,468
MPLT	MapLight Therapeutics, Inc.	248,294	$5,047,817
No positions match the current search.

Sold Out

Positions the filer fully exited

7 positions

Ticker	Company	Shares	Value
ACLX	Arcellx, Inc.	1,267,156	$82,618,571
BLTE	Belite Bio, Inc	432,484	$69,180,140
IVVD	Invivyd, Inc.	17,119,096	$42,284,167
MDLN	Medline Inc.	335,000	$14,070,000
PGNY	Progyny, Inc.	96,628	$2,481,407
KIDS	Orthopediatrics Corp	109,959	$1,952,871
HCAT	Health Catalyst, Inc.	793,749	$1,897,060
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

84 positions · $9,431,068,368 total · as of Mar 31, 2026

All sectors Financial Services Healthcare

Showing 1–50 of 84 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
ASND	Ascendis Pharma A/S Healthcare	Held	10,281,496	0	$2,351,686,580	+7.3%	24.94%
PCVX	Vaxcyte, Inc. Healthcare	Added	11,474,599	+750,000	$666,788,947	+34.8%	7.07%
RYTM	Rhythm Pharmaceuticals, Inc. Healthcare	Held	6,666,837	0	$579,814,813	−18.8%	6.15%
TYRA	Tyra Biosciences, Inc. Healthcare	Held	12,198,625	0	$467,207,337	+45.7%	4.95%
SION	Sionna Therapeutics, Inc. Healthcare	Held	9,905,045	0	$397,093,254	−2.6%	4.21%
EWTX	Edgewise Therapeutics, Inc. Healthcare	Held	10,428,437	0	$328,495,765	+26.9%	3.48%
NAMS	NewAmsterdam Pharma Co N.V. Healthcare	Held	9,550,191	0	$305,701,613	−8.8%	3.24%
NUVL	Nuvalent, Inc. Healthcare	Added	2,534,145	+654,088	$259,623,155	+37.3%	2.75%
DNTH	Dianthus Therapeutics, Inc. /DE/ Healthcare	Added	2,611,733	+1,000,000	$219,176,633	+230.0%	2.32%
MLYS	Mineralys Therapeutics, Inc. Healthcare	Added	7,692,750	+369,000	$208,396,597	−21.6%	2.21%
SGP	SpyGlass Pharma, Inc. Healthcare	NEW	8,021,117	NEW	$207,827,141	NEW	2.20%
WVE	Wave Life Sciences Ltd. Healthcare	Added	26,975,505	+8,772,496	$195,572,411	−36.8%	2.07%
SEPN	Septerna, Inc. Healthcare	Held	6,995,858	0	$168,110,467	−13.8%	1.78%
IRON	Disc Medicine, Inc. Healthcare	Added	2,450,221	+474,089	$156,667,130	−0.2%	1.66%
JANX	Janux Therapeutics, Inc. Healthcare	Held	11,189,693	0	$155,536,732	+0.7%	1.65%
BCRX	Biocryst Pharmaceuticals Inc Healthcare	Held	15,827,186	0	$150,674,810	+22.1%	1.60%
BCAX	Bicara Therapeutics Inc. Healthcare	Added	7,255,993	+300,000	$144,321,700	+23.3%	1.53%
PRAX	Praxis Precision Medicines, Inc. Healthcare	Held	373,787	0	$120,430,433	+9.3%	1.28%
GHRS	GH Research PLC Healthcare	Held	7,676,697	0	$107,934,359	+10.7%	1.14%
ZLAB	Zai Lab Ltd Healthcare	NEW	5,707,262	NEW	$107,353,598	NEW	1.14%
TSHA	Taysha Gene Therapies, Inc. Healthcare	Held	23,555,648	0	$105,293,746	−18.7%	1.12%
VOR	Vor Biopharma Inc. Healthcare	Held	5,404,998	0	$96,425,164	+36.4%	1.02%
GERN	Geron Corp Healthcare	Held	63,771,366	0	$95,019,335	+12.9%	1.01%
SPRY	ARS Pharmaceuticals, Inc. Healthcare	Held	10,860,977	0	$87,213,645	−31.1%	0.92%
SRPT	Sarepta Therapeutics, Inc. Healthcare	NEW	3,902,596	NEW	$84,920,488	NEW	0.90%
SYRE	Spyre Therapeutics, Inc. Healthcare	Held	1,621,620	0	$81,794,512	+54.0%	0.87%
EVMN	Evommune, Inc. Healthcare	Added	3,494,638	+35,868	$80,341,727	+35.7%	0.85%
CLYM	Climb Bio, Inc. Healthcare	Added	11,300,939	+7,111	$77,411,431	+71.4%	0.82%
SLDB	Solid Biosciences Inc. Healthcare	Added	9,339,978	+3,528,555	$67,247,841	+105.2%	0.71%
ARTV	Artiva Biotherapeutics, Inc. Healthcare	Held	9,853,302	0	$63,455,264	+50.1%	0.67%
DMRA	Damora Therapeutics, Inc. Healthcare	NEW	2,399,310	NEW	$62,142,129	NEW	0.66%
XNCR	Xencor Inc Healthcare	NEW	4,897,237	NEW	$59,060,678	NEW	0.63%
LBRX	Lb Pharmaceuticals Inc Healthcare	Held	2,208,604	0	$54,464,174	+10.8%	0.58%
JBIO	Jade Biosciences, Inc. Healthcare	Held	3,671,083	0	$51,578,716	−8.9%	0.55%
ABOS	Acumen Pharmaceuticals, Inc. Healthcare	Added	20,992,669	+6,060,606	$49,542,698	+57.2%	0.53%
FDMT	4D Molecular Therapeutics, Inc. Healthcare	Reduced	5,049,779	-603,432	$47,013,442	+10.9%	0.50%
FULC	Fulcrum Therapeutics, Inc. Healthcare	Held	6,053,960	0	$46,433,873	−32.2%	0.49%
CAPR	Capricor Therapeutics, Inc. Healthcare	Held	1,507,844	0	$45,838,457	+5.3%	0.49%
IPSC	Century Therapeutics, Inc. Healthcare	NEW	17,754,430	NEW	$40,125,011	NEW	0.43%
OLMA	Olema Pharmaceuticals, Inc. Healthcare	Held	2,600,000	0	$38,766,000	−40.4%	0.41%
LENZ	LENZ Therapeutics, Inc. Healthcare	Held	4,178,823	0	$38,236,230	−42.8%	0.41%
MNPR	Monopar Therapeutics Healthcare	Held	667,207	0	$36,556,271	−16.1%	0.39%
PEPG	PepGen Inc. Healthcare	Held	20,064,545	0	$35,514,244	−72.8%	0.38%
DSGN	Design Therapeutics, Inc. Healthcare	Added	2,972,973	+1,511,592	$31,632,432	+130.8%	0.34%
MIRM	Mirum Pharmaceuticals, Inc. Healthcare	NEW	318,554	NEW	$29,428,018	NEW	0.31%
BIOA	BioAge Labs, Inc. Healthcare	NEW	1,650,648	NEW	$28,869,833	NEW	0.31%
LXEO	Lexeo Therapeutics, Inc. Healthcare	Held	5,000,000	0	$28,700,000	−42.2%	0.30%
ASMB	Assembly Biosciences, Inc. Healthcare	Held	1,020,410	0	$28,316,377	−18.4%	0.30%
RZLT	Rezolute, Inc. Healthcare	Held	9,180,000	0	$27,999,000	+29.2%	0.30%
AKTS	Aktis Oncology, Inc. Healthcare	NEW	1,503,084	NEW	$26,890,172	NEW	0.29%