RA Capital Management Portfolio
13F Holdings & Position Changes — Last filed Aug 14, 2026
13F Holdings & Position Changes — Last filed Aug 14, 2026
Crossover biotech fund that invests from late-stage private through public markets. Known for rigorous scientific analysis and the "biotech social contract" framework. Kolchinsky, a virologist by training, emphasizes understanding drug pricing dynamics and long-term value creation in biotech.
RA Capital Management is a $10B biotech-focused hedge fund managed by Peter Kolchinsky, PhD. As of their latest 13F filing (Q2 2026), the fund holds 82 positions worth $11.5B. This quarter they initiated 15 new positions and exited 94. Their largest holding is ASND ($2.7B).
RA initiated 15 new positions and increased 10 this quarter. Portfolio grew +24.7% to $11.5B. 310 upcoming catalysts across holdings.
Portfolio Value (13F)
$11.5B
Holdings
82
Top 10 Concentration
60.5%
QoQ Change
+24.7%
Turnover
15.3%
Portfolio Value Trend
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| # | Ticker | Company | Change | Value | % of Portfolio | SI % Float ? | Trend |
|---|---|---|---|---|---|---|---|
| 1 | ASND | Ascendis Pharma A/S | $2.7B | 23.85% | 3.6% | ||
| 2 | PBLS | Parabilis Medicines, Inc. | New | $791.9M | 6.89% | 4.3% | — |
| 3 | RYTM | Rhythm Pharmaceuticals Inc. | $740.2M | 6.44% | 14.9% | ||
| 4 | PCVX | Vaxcyte Inc. | $667.0M | 5.80% | 10.1% | ||
| 5 | SION | Sionna Therapeutics, Inc. | $435.7M | 3.79% | 15.2% | ||
| 6 | TYRA | Tyra Biosciences, Inc. | $389.6M | 3.39% | 30.7% | ||
| 7 | EWTX | Edgewise Therapeutics, Inc. | Decreased | $341.0M | 2.97% | 12.6% | |
| 8 | NAMSW | NewAmsterdam Pharma Co N.V. | Decreased↓2Q | $323.7M | 2.82% | — | |
| 9 | COAG | Hemab Therapeutics Holdings, Inc. | New | $286.8M | 2.49% | — | — |
| 10 | SEPN | Septerna, Inc. | $234.3M | 2.04% | 11.5% |
Share changes reflect active decisions. Value changes include price moves.
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RA Capital Management held 82 biotech stocks in their 13F portfolio this quarter. Their top positions include ASND, PBLS, RYTM, PCVX, SION. The full holdings table is available on BiotechEdge with position sizes, quarter-over-quarter changes, and AI analysis.
RA Capital Management's tracked biotech portfolio is worth $11.5B across 82 positions, with total assets under management of approximately $10B. Portfolio values are based on 13F filings with the SEC.
RA Capital Management initiated 15 new positions this quarter, including PBLS, COAG, AAVXF, ORKA, NTLA and 10 more. They also increased 10 existing positions.
RA Capital Management fully exited 94 positions this quarter, including INBX, MDGL, OMDA, LRMR, CMPS and 89 more. They also trimmed 11 existing positions.
Crossover biotech fund that invests from late-stage private through public markets. Known for rigorous scientific analysis and the "biotech social contract" framework. Kolchinsky, a virologist by training, emphasizes understanding drug pricing dynamics and long-term value creation in biotech.
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