Ra Capital Management, L.P. reported 77 positions worth $11.31B for the quarter ended Jun 30, 2026, up 23.4% on the prior quarter. It opened 13 new positions, added to 10, trimmed 8 and exited 17. Its largest holding is Ascendis Pharma A/S at 24.2% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| PBLS Parabilis Medicines, Inc. | +28.93M | – | $791.91M | 7% |
| COAG Hemab Therapeutics Holdings, Inc. | +7.81M | – | $286.81M | 2.54% |
| ABVX Abivax S.A. | +1.13M | – | $150.92M | 1.33% |
| ORKA Oruka Therapeutics, Inc. | +1.55M | – | $147.95M | 1.31% |
| ARTV Artiva Biotherapeutics, Inc. | +8.10M | +82.2% | $78.59M | 1.54% |
| NTLA Intellia Therapeutics, Inc. | +4.53M | – | $76.60M | 0.677% |
| DFTX Definium Therapeutics, Inc. | +1.50M | – | $70.56M | 0.624% |
| SANA Sana Biotechnology, Inc. | +18.75M | – | $65.44M | 0.579% |
| PRLD Prelude Therapeutics Inc | +6.48M | – | $34.52M | 0.305% |
| ACRS Aclaris Therapeutics, Inc. | +5.92M | +87.0% | $31.31M | 0.595% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| DNTH Dianthus Therapeutics, Inc. | -2.61M | -100.0% | $219.18M | Exited |
| PRAX Praxis Precision Medicines, Inc. | -373.8K | -100.0% | $120.43M | Exited |
| SRPT Sarepta Therapeutics, Inc. | -3.90M | -100.0% | $84.92M | Exited |
| EWTX Edgewise Therapeutics, Inc. | -2.04M | -19.5% | $82.71M | 3.01% |
| SYRE Spyre Therapeutics, Inc. | -1.62M | -100.0% | $81.79M | Exited |
| VOR Vor Biopharma Inc. | -3.00M | -55.6% | $55.28M | 0.391% |
| FULC Fulcrum Therapeutics, Inc. | -6.05M | -100.0% | $46.43M | Exited |
| OLMA Olema Pharmaceuticals, Inc. | -2.60M | -100.0% | $38.77M | Exited |
| DSGN Design Therapeutics, Inc. | -2.97M | -100.0% | $31.63M | Exited |
| GERN Geron Corp | -20.96M | -32.9% | $26.83M | 0.484% |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| PBLS Parabilis Medicines, Inc. | +28.93M | $791.91M | 7% |
| COAG Hemab Therapeutics Holdings, Inc. | +7.81M | $286.81M | 2.54% |
| ABVX Abivax S.A. | +1.13M | $150.92M | 1.33% |
| ORKA Oruka Therapeutics, Inc. | +1.55M | $147.95M | 1.31% |
| NTLA Intellia Therapeutics, Inc. | +4.53M | $76.60M | 0.677% |
| DFTX Definium Therapeutics, Inc. | +1.50M | $70.56M | 0.624% |
| SANA Sana Biotechnology, Inc. | +18.75M | $65.44M | 0.579% |
| PRLD Prelude Therapeutics Inc | +6.48M | $34.52M | 0.305% |
| QTTB Q32 Bio Inc. | +2.33M | $29.72M | 0.263% |
| EDIT Editas Medicine, Inc. | +8.89M | $28.80M | 0.255% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| DNTH Dianthus Therapeutics, Inc. | -2.61M | $219.18M | 2.39% |
| PRAX Praxis Precision Medicines, Inc. | -373.8K | $120.43M | 1.31% |
| SRPT Sarepta Therapeutics, Inc. | -3.90M | $84.92M | 0.927% |
| SYRE Spyre Therapeutics, Inc. | -1.62M | $81.79M | 0.893% |
| FULC Fulcrum Therapeutics, Inc. | -6.05M | $46.43M | 0.507% |
| OLMA Olema Pharmaceuticals, Inc. | -2.60M | $38.77M | 0.423% |
| DSGN Design Therapeutics, Inc. | -2.97M | $31.63M | 0.345% |
| TVTX Travere Therapeutics, Inc. | -746.8K | $22.19M | 0.242% |
| GRAL GRAIL, Inc. | -428.3K | $22.13M | 0.242% |
| RLMD Relmada Therapeutics, Inc. | -2.95M | $20.51M | 0.224% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | ASND Ascendis Pharma A/S | Healthcare | 10.28M | $2.74B | 24.25% | 0 | 0.0% | Unchanged | 16.96% |
| 2 | PBLS Parabilis Medicines, Inc. | Healthcare | 28.93M | $791.91M | 7% | +28.93M | – | New | 23.73% |
| 3 | RYTM Rhythm Pharmaceuticals, Inc. | Healthcare | 6.67M | $740.22M | 6.54% | 0 | 0.0% | Unchanged | 9.69% |
| 4 | PCVX Vaxcyte, Inc. | Healthcare | 11.47M | $667.02M | 5.9% | 0 | 0.0% | Unchanged | 7.93% |
| 5 | SION Sionna Therapeutics, Inc. | Healthcare | 9.91M | $435.72M | 3.85% | 0 | 0.0% | Unchanged | 21.93% |
| 6 | TYRA Tyra Biosciences, Inc. | Healthcare | 12.20M | $389.62M | 3.44% | 0 | 0.0% | Unchanged | 18.49% |
| 7 | EWTX Edgewise Therapeutics, Inc. | Healthcare | 8.39M | $341.00M | 3.01% | -2.04M | -19.5% | Reduced | 7.79% |
| 8 | NAMS NewAmsterdam Pharma Co N.V. | Healthcare | 9.55M | $323.66M | 2.86% | 0 | 0.0% | Unchanged | 7.74% |
| 9 | COAG Hemab Therapeutics Holdings, Inc. | Healthcare | 7.81M | $286.81M | 2.54% | +7.81M | – | New | 16.72% |
| 10 | SEPN Septerna, Inc. | Healthcare | 7.00M | $234.29M | 2.07% | 0 | 0.0% | Unchanged | 15.32% |
| 11 | BCAX Bicara Therapeutics Inc. | Healthcare | 7.26M | $215.43M | 1.9% | 0 | 0.0% | Unchanged | 10.68% |
| 12 | MLYS Mineralys Therapeutics, Inc. | Healthcare | 7.69M | $207.55M | 1.84% | 0 | 0.0% | Unchanged | 8.71% |
| 13 | GHRS GH Research PLC | Healthcare | 7.64M | $205.28M | 1.81% | -39.9K | -0.5% | Reduced | 12.51% |
| 14 | IRON Disc Medicine, Inc. | Healthcare | 2.45M | $179.21M | 1.58% | 0 | 0.0% | Unchanged | 6.33% |
| 15 | SGP SpyGlass Pharma, Inc. | Healthcare | 8.02M | $178.55M | 1.58% | 0 | 0.0% | Unchanged | 23.98% |
Tip. Select a row to see that position’s full history at Ra Capital Management.
As of its Q2 2026 13F filing, Ra Capital Management, L.P.’s five largest positions were Ascendis Pharma A/S (ASND) at 24.2%, Parabilis Medicines, Inc. (PBLS) at 7.0%, Rhythm Pharmaceuticals, Inc. (RYTM) at 6.5%, Vaxcyte, Inc. (PCVX) at 5.9%, Sionna Therapeutics, Inc. (SION) at 3.9% of the reported portfolio.
Ra Capital Management, L.P. reported a 13F portfolio worth $11.31B across 77 positions for Q2 2026. That is up 23.4% from the previous quarter.
Its largest purchases by value were Parabilis Medicines, Inc. ($791.91M), Hemab Therapeutics Holdings, Inc. ($286.81M), Abivax S.A. ($150.92M). It opened 13 new positions.
Its largest sales by value were Dianthus Therapeutics, Inc. ($219.18M), Praxis Precision Medicines, Inc. ($120.43M), Sarepta Therapeutics, Inc. ($84.92M). It exited 17 positions entirely.
From the Form 13F-HR reports Ra Capital Management, L.P. files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.