RA CAPITAL MANAGEMENT, L.P.

CIK 0001346824 · Q2 2026

13F Equity AUM

$11.5B

+21.9% QoQ

Positions

-1 QoQ

AUM Rank

#468

Top 5%

Skill Alpha (FF)

+7.0%/yr^ns

No Clear Edge

Rank #547 · Top 7%

vs S&P -3.6%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 46.7%Top 10: 60.4%Top 20: 76.1%

ASCENDIS PHARMA A/S23.8%

PARABILIS MEDICINES INC6.9%

RYTM6.4%

PCVX5.8%

SION3.8%

TYRA3.4%

EWTX3.0%

NEWAMSTERDAM PHARMA CO NV2.8%

HEMAB THERAPEUTICS HOLDINGS2.5%

SEPN2.0%

Others (74)39.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Healthcare61.5%

Unclassified38.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 84Median: 0.38%Avg: 1.19%

0–0.5%

47(9.8%)

0.5–1%

12(7.9%)

1–3%

19(32.3%)

3–5%

2(7.2%)

5%+

4(42.9%)

Count of positions per weight bucket — (%) = combined portfolio weight

Loading summary cards...

Portfolio Overlap

Shared: 0Unique: 84vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Loading overlap analysis...

Position Changes This Quarter

New17Increased10Decreased10Exited18

New Positions

ASCENDIS PHARMA A/S23.8%

+10.3M

PARABILIS MEDICINES …6.9%

+28.9M

HEMAB THERAPEUTICS H…2.5%

+7.8M

ABVX1.3%

+1.1M

ORKA1.3%

+1.6M

NTLA0.7%

+4.5M

DFTX0.6%

+1.5M

SANA0.6%

+18.8M

PRLD0.3%

+6.5M

QTTB0.3%

+2.3M

Increased

ARTV1.5%

+8.1M(+82%)

ACRS0.6%

+5.9M(+87%)

ACRV0.2%

+3.9M(+47%)

SLDB1.0%

+2.7M(+29%)

XNCR0.7%

+377K(+8%)

AVTX0.2%

+337K(+51%)

RZLT0.4%

+265K(+3%)

ZLAB0.9%

+36K(+1%)

BIOA0.4%

+21K(+1%)

DMRA0.5%

+392(+0%)

Decreased

GON0.5%

-20,961,615(-33%)

HOWL0.0%

-4,293,563(-64%)

VOR0.4%

-3,002,903(-56%)

EWTX3.0%

-2,035,707(-20%)

NUVL1.3%

-1,287,689(-51%)

ACET0.1%

-250,000(-21%)

OVID0.3%

-213,032(-2%)

AKTIS ONCOLOGY INC0.4%

-188,679(-13%)

GHRS1.8%

-39,884(-1%)

PTN0.0%

-7,876(-11%)

Exited

-10,281,496

-2,611,733

-373,787

-3,902,596

-1,621,620

-6,053,960

-2,600,000

-2,972,973

-746,841

-428,266

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

Loading position changes...

Holdings

Loading holdings...