RA Capital Management 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
RA Capital Management disclosed 67 US equity positions worth $8.2bn in its Q3 2025 13F filing. The largest position was ASND at 25.0% of the reported book, followed by RYTM and PCVX. Against the Q2 2025 filing, it opened 9 new positions, added to 6 and reduced 0 among the top 50 holdings.
What did RA Capital Management own in Q3 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | ASND ASCENDIS PHARMA A/S - ADR | Healthcare | 25.0% | $2.0bn | 10,281,496 | 0% | held |
| 2 | RYTM RHYTHM PHARMACEUTICALS INC | Healthcare | 7.0% | $573.8m | 5,681,359 | 2% | added |
| 3 | PCVX VAXCYTE INC | Healthcare | 5.3% | $431.0m | 11,965,991 | 0% | held |
| 4 | AVIDITY BIOSCIENCES INC | 4.6% | $376.5m | 8,641,031 | 19% | added | |
| 5 | CDTX CIDARA THERAPEUTICS INC | 3.9% | $322.3m | 3,365,523 | 0% | held | |
| 6 | SION SIONNA THERAPEUTICS INC | 3.8% | $307.2m | 10,445,322 | 0% | held | |
| 7 | 89BIO INC | 3.6% | $292.4m | 19,889,683 | 0% | held | |
| 8 | NEWAMSTERDAM PHARMA CO NV | 3.5% | $288.4m | 10,138,938 | 0% | held | |
| 9 | MLYS MINERALYS THERAPEUTICS INC | Healthcare | 3.4% | $277.7m | 7,323,750 | 19% | added |
| 10 | JANX JANUX THERAPEUTICS INC | Healthcare | 3.3% | $273.5m | 11,189,693 | 0% | held |
| 11 | ARCELLX INC | 3.1% | $249.3m | 3,036,527 | 0% | held | |
| 12 | LENZ LENZ THERAPEUTICS INC | Healthcare | 2.4% | $194.6m | 4,178,823 | 0% | held |
| 13 | TYRA TYRA BIOSCIENCES INC | Healthcare | 2.1% | $170.7m | 12,198,625 | 0% | held |
| 14 | EWTX EDGEWISE THERAPEUTICS INC | 2.1% | $169.1m | 10,428,437 | 5% | added | |
| 15 | WVE WAVE LIFE SCIENCES LTD | Healthcare | 1.6% | $133.2m | 18,202,009 | 0% | held |
| 16 | SEPN SEPTERNA INC | 1.6% | $131.6m | 6,995,858 | 0% | held | |
| 17 | CLYM CLIMB BIO INC | 1.4% | $116.3m | 31,419,267 | 0% | held | |
| 18 | DNTH DIANTHUS THERAPEUTICS INC | Healthcare | 1.4% | $112.8m | 2,866,733 | 0% | held |
| 19 | BCAX BICARA THERAPEUTICS INC | 1.3% | $109.8m | 6,955,993 | 0% | held | |
| 20 | GHRS GH RESEARCH PLC | 1.3% | $109.8m | 7,676,697 | 0% | held | |
| 21 | SPRY ARS PHARMACEUTICALS INC | Healthcare | 1.3% | $109.2m | 10,860,977 | 0% | held |
| 22 | NUVALENT INC-A | 1.3% | $107.8m | 1,246,456 | – | new | |
| 23 | IRON DISC MEDICINE INC | Healthcare | 1.3% | $104.2m | 1,577,106 | 0% | held |
| 24 | VOR VOR BIOPHARMA INC | 1.2% | $96.6m | 1,982,301 | – | new | |
| 25 | FULC FULCRUM THERAPEUTICS INC | Healthcare | 1.2% | $94.1m | 10,229,099 | 0% | held |
| 26 | PEPG PEPGEN INC | Healthcare | 1.1% | $92.7m | 20,064,545 | 88% | added |
| 27 | GERN GERON CORP | Healthcare | 1.0% | $82.7m | 60,379,366 | 0% | held |
| 28 | TSHA TAYSHA GENE THERAPIES INC | Healthcare | 0.9% | $77.0m | 23,555,648 | 0% | held |
| 29 | BLTE BELITE BIO INC - ADR | Healthcare | 0.8% | $64.8m | 875,000 | – | new |
| 30 | SRRK SCHOLAR ROCK HOLDING CORP | Healthcare | 0.5% | $43.5m | 1,166,788 | 3% | added |
| 31 | GPCR STRUCTURE THERAPEUTICS INC | Healthcare | 0.5% | $42.5m | 1,517,418 | 0% | held |
| 32 | MNPR MONOPAR THERAPEUTICS INC | 0.5% | $41.8m | 511,207 | 0% | held | |
| 33 | 4D MOLECULAR THERAPEUTICS IN | 0.5% | $39.7m | 4,563,211 | 0% | held | |
| 34 | SLDB SOLID BIOSCIENCES INC | Healthcare | 0.4% | $35.9m | 5,811,423 | 0% | held |
| 35 | METSERA INC | 0.4% | $35.4m | 675,525 | 0% | held | |
| 36 | ARTV ARTIVA BIOTHERAPEUTICS INC | 0.3% | $28.3m | 9,853,302 | 0% | held | |
| 37 | LB PHARMACEUTICALS INC | 0.3% | $28.1m | 1,776,958 | – | new | |
| 38 | TVTX TRAVERE THERAPEUTICS INC | Healthcare | 0.3% | $27.5m | 1,150,000 | 0% | held |
| 39 | ASMB ASSEMBLY BIOSCIENCES INC | Healthcare | 0.3% | $26.1m | 1,020,410 | – | new |
| 40 | ABOS ACUMEN PHARMACEUTICALS INC | 0.3% | $25.5m | 14,932,063 | 0% | held | |
| 41 | CTNM CONTINEUM THERAPEUTICS INC-A | 0.3% | $24.9m | 2,122,000 | – | new | |
| 42 | NKTX NKARTA INC | Healthcare | 0.3% | $22.4m | 10,805,129 | 0% | held |
| 43 | LRMR LARIMAR THERAPEUTICS INC | Healthcare | 0.2% | $19.5m | 6,045,351 | 0% | held |
| 44 | IVVD INVIVYD INC | Healthcare | 0.2% | $18.8m | 17,119,096 | – | new |
| 45 | TNGX TANGO THERAPEUTICS INC | Healthcare | 0.2% | $16.8m | 2,000,000 | 0% | held |
| 46 | PRME PRIME MEDICINE INC | 0.2% | $16.6m | 3,000,000 | – | new | |
| 47 | RCUS ARCUS BIOSCIENCES INC | Healthcare | 0.2% | $15.5m | 1,136,364 | 0% | held |
| 48 | ACRV ACRIVON THERAPEUTICS INC | 0.2% | $15.1m | 8,340,508 | 0% | held | |
| 49 | HOWL WEREWOLF THERAPEUTICS INC | 0.2% | $13.2m | 6,681,307 | 0% | held | |
| 50 | UNIQURE NV | 0.1% | $11.7m | 200,000 | – | new |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.