Q2 2026 13F · SEC CIK 1346824

Ra Capital Management, L.P.

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $11.5B
Reported positions: 84
Holdings vs S&P 500, 3 yrs: —
Average holding period: 2.4 yrs

Ra Capital Management, L.P. is a hedge fund that reported 84 positions worth $11.5B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Ascendis Pharma As Ord (ASND, 23.8%), Parabilis Medicines, Inc. (PBLS, 6.9%), Rhythm Pharmaceuticals Inc (RYTM, 6.4%).

Ra Capital Management, L.P. holdings largest 50 of 84 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Ra Capital Management, L.P. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
ASNDAscendis Pharma As Ord	23.8%	—	10,281,496	—	$2.7B
PBLSParabilis Medicines, Inc.	6.9%	—	28,933,371	—	$791.9M
RYTMRhythm Pharmaceuticals Inc	6.4%	6.1%	6,666,837	+0.0%	$740.2M
PCVXVaxcyte Inc	5.8%	7.1%	11,474,599	+0.0%	$667.0M
829401108Sionna Therapeutics Inc	3.8%	4.2%	9,905,045	+0.0%	$435.7M
TYRATyra Biosciences Inc	3.4%	5.0%	12,198,625	+0.0%	$389.6M
EWTXEdgewise Therapeutics Inc	3.0%	3.5%	8,392,730	-19.5%	$341.0M
NAMSNewamsterdam Pharma Company	2.8%	3.2%	9,550,191	+0.0%	$323.7M
COAGHemab Therapeutics Holdings Inc	2.5%	—	7,808,627	—	$286.8M
SEPNSepterna, Inc.	2.0%	1.8%	6,995,858	+0.0%	$234.3M
BCAXBicara Therapeutics Inc	1.9%	1.5%	7,255,993	+0.0%	$215.4M
MLYSMineralys Therapeutics Inc	1.8%	2.2%	7,692,750	+0.0%	$207.6M
GHRSGh Research PLC	1.8%	1.1%	7,636,813	-0.5%	$205.3M
IRONDisc Medicine Inc	1.6%	1.7%	2,450,221	+0.0%	$179.2M
SGPSpyglass Pharma Inc	1.6%	2.2%	8,021,117	+0.0%	$178.6M
ARTVArtiva Biotherapeutics Inc	1.5%	0.7%	17,955,642	+82.2%	$174.2M
JANXJanux Therapeutics Inc	1.5%	1.6%	11,189,693	+0.0%	$171.9M
TSHATaysha Gene Therapies Inc	1.4%	1.1%	23,555,648	+0.0%	$160.4M
BCRXBiocryst Pharmaceuticals Inc	1.4%	1.6%	15,827,186	+0.0%	$158.3M
WVEWave Life Sciences Ltd	1.4%	2.1%	26,975,505	+0.0%	$156.7M
NUVLNuvalent Inc	1.3%	2.8%	1,246,456	-50.8%	$153.9M
ABVXAbivax SA	1.3%	—	1,132,557	—	$150.9M
ORKAOruka Therapeutics Inc	1.3%	—	1,554,597	—	$148.0M
CLYMClimb Bio Inc	1.3%	0.8%	11,300,939	+0.0%	$147.4M
SLDBSolid Bioscience Inc.	1.0%	0.7%	12,036,126	+28.9%	$120.2M
ZLABZai Lab Ltd	0.9%	1.1%	5,743,533	+0.6%	$109.1M
SPRYArs Pharmaceuticals Inc	0.8%	0.9%	10,860,977	+0.0%	$87.0M
XNCRXencor Inc	0.7%	0.6%	5,274,274	+7.7%	$84.9M
008064206Jade Biosciences Inc	0.7%	0.5%	3,671,083	+0.0%	$81.6M
NTLAIntellia Therapeutics Inc	0.7%	—	4,526,926	—	$76.6M
LBRXLB Pharmaceuticals, Inc.	0.6%	0.6%	2,208,604	+0.0%	$71.7M
24477V105Definium Therapeutics Inc	0.6%	—	1,500,000	—	$70.6M
ACRSAclaris Therapeutics Inc	0.6%	—	12,723,026	—	$67.3M
FDMT4d Molecular Therapeutics in	0.6%	0.5%	5,049,779	+0.0%	$67.2M
SANASana Biotechnology Inc	0.6%	—	18,750,000	—	$65.4M
GLTODamora Therapeutics Inc	0.5%	0.7%	2,399,702	+0.0%	$62.4M
MNPRMonopar Therapeutics Inc	0.5%	0.4%	667,207	+0.0%	$61.8M
ABOSAcumen Pharmaceuticals Inc	0.5%	0.5%	20,992,669	+0.0%	$56.1M
GERNGeron Corp	0.5%	1.0%	42,809,751	-32.9%	$54.8M
RZLTRezolute, Inc.	0.4%	0.3%	9,445,039	+2.9%	$49.1M
EVMNEvommune Inc	0.4%	0.9%	3,494,638	+0.0%	$46.4M
VORVor Biopharma Inc	0.4%	1.0%	2,402,095	-55.6%	$44.2M
IPSCCentury Therapeutics Inc	0.4%	0.4%	17,754,430	+0.0%	$43.5M
AKTSAktis Oncology Inc	0.4%	0.3%	1,314,405	-12.6%	$42.4M
BIOABioage Labs Inc	0.4%	0.3%	1,671,648	+1.3%	$41.0M
CCCCC4 Therapeutics Inc	0.3%	—	8,000,000	—	$37.4M
MIRMMirum Pharmaceuticals Inc	0.3%	0.3%	318,554	+0.0%	$37.3M
CAPRCapricor Therapeutics Inc	0.3%	0.5%	1,507,844	+0.0%	$36.3M
PEPGPepgen Inc	0.3%	0.4%	20,064,545	+0.0%	$36.1M
PRLDPrelude Therapeutics Inc	0.3%	—	6,475,882	—	$34.5M

What Ra Capital Management, L.P. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: —
3 years: —
5 years: —

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$11.5B	84
Q1 2026	$9.4B	85
Q4 2025	$9.8B	71
Q3 2025	$8.1B	67
Q2 2025	$5.9B	63
Q1 2025	$6.0B	85
Q4 2024	$7.5B	89
Q3 2024	$8.7B	81
Q2 2024	$7.6B	78
Q1 2024	$7.8B	75
Q4 2023	$6.4B	62
Q3 2023	$5.0B	65

Questions about Ra Capital Management, L.P.'s portfolio

What stocks does Ra Capital Management, L.P. own?

Ra Capital Management, L.P.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 84 positions worth $11.5B. The largest are Ascendis Pharma As Ord (ASND) at 23.8%, Parabilis Medicines, Inc. (PBLS) at 6.9%, Rhythm Pharmaceuticals Inc (RYTM) at 6.4%, Vaxcyte Inc (PCVX) at 5.8% and Sionna Therapeutics Inc at 3.8%.

What did Ra Capital Management, L.P. buy last quarter?

In Q2 2026, Ra Capital Management, L.P. added Artiva Biotherapeutics Inc (ARTV) (+82.2% shares), Solid Bioscience Inc. (SLDB) (+28.9% shares) and Xencor Inc (XNCR) (+7.7% shares), compared with its Q1 2026 filing.

What did Ra Capital Management, L.P. sell last quarter?

In Q2 2026, Ra Capital Management, L.P. cut from its top 50 Ascendis Pharma A/s, cut from its top 50 Dianthus Therapeutics Inc (DNTH), cut from its top 50 Praxis Precision Medicines I (PRAX), cut from its top 50 Sarepta Therapeutics Inc (SRPT), cut from its top 50 Spyre Therapeutics (SYRE), Vor Biopharma Inc (VOR) (-55.6% shares), Nuvalent Inc (NUVL) (-50.8% shares) and Geron Corp (GERN) (-32.9% shares), compared with its Q1 2026 filing.

When is Ra Capital Management, L.P.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Ra Capital Management, L.P.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.