Ra Capital Management, Lp
- Regulatory AUM
- $16.4B
- Discretionary
- $16.4B
- Clients
- 13
- Avg AUM / client
- $1.3B
- Accounts
- 13
- Employees
- 185
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Investments (13F portfolio — 85 positions, $9,437,744,027)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Ascendis Pharma A/S Adr | SPONSORED ADR | $2,351,686,580 | 10,281,496 | 24.9% | 14.3% |
| 2 | Vaxcyte Inc | COMMON STOCK | $666,788,948 | 11,474,599 | 7.07% | 4.07% |
| 3 | Rhythm Pharmaceuticals Inc | COMMON STOCK | $579,814,814 | 6,666,837 | 6.14% | 3.54% |
| 4 | Tyra Biosciences Inc | COMMON STOCK | $467,207,338 | 12,198,625 | 4.95% | 2.85% |
| 5 | Sionna Therapeutics Inc | COMMON STOCK | $397,093,254 | 9,905,045 | 4.21% | 2.42% |
| 6 | Edgewise Therapeutics Inc | COMMON STOCK | $328,495,766 | 10,428,437 | 3.48% | 2.0% |
| 7 | Newamsterdam Pharma Co Nv | COMMON STOCK | $305,701,614 | 9,550,191 | 3.24% | 1.86% |
| 8 | Nuvalent Inc A | COMMON STOCK | $259,623,155 | 2,534,145 | 2.75% | 1.58% |
| 9 | Dianthus Therapeutics Inc | COMMON STOCK | $219,176,633 | 2,611,733 | 2.32% | 1.34% |
| 10 | Mineralys Therapeutics Inc | COMMON STOCK | $208,396,598 | 7,692,750 | 2.21% | 1.27% |
| 11 | Spyglass Pharma Inc | COMMON STOCK | $207,827,141 | 8,021,117 | 2.2% | 1.27% |
| 12 | Wave Life Sciences Ltd | COMMON STOCK | $195,572,411 | 26,975,505 | 2.07% | 1.19% |
| 13 | Septerna Inc | COMMON STOCK | $168,110,468 | 6,995,858 | 1.78% | 1.02% |
| 14 | Disc Medicine Inc | COMMON STOCK | $156,667,131 | 2,450,221 | 1.66% | 0.96% |
| 15 | Janux Therapeutics Inc | COMMON STOCK | $155,536,733 | 11,189,693 | 1.65% | 0.95% |
| 16 | Biocryst Pharmaceuticals Inc | COMMON STOCK | $150,674,811 | 15,827,186 | 1.6% | 0.92% |
| 17 | Bicara Therapeutics Inc | COMMON STOCK | $144,321,701 | 7,255,993 | 1.53% | 0.88% |
| 18 | Praxis Precision Medicines I | COMMON STOCK | $120,430,434 | 373,787 | 1.28% | 0.73% |
| 19 | Gh Research Plc | COMMON STOCK | $107,934,360 | 7,676,697 | 1.14% | 0.66% |
| 20 | Zai Lab Ltd Adr | COMMON STOCK | $107,353,598 | 5,707,262 | 1.14% | 0.65% |
| 21 | Taysha Gene Therapies Inc | COMMON STOCK | $105,293,747 | 23,555,648 | 1.12% | 0.64% |
| 22 | Vor Biopharma Inc | COMMON STOCK | $96,425,164 | 5,404,998 | 1.02% | 0.59% |
| 23 | Geron Corp | COMMON STOCK | $95,019,335 | 63,771,366 | 1.01% | 0.58% |
| 24 | Ars Pharmaceuticals Inc | COMMON STOCK | $87,213,645 | 10,860,977 | 0.92% | 0.53% |
| 25 | Sarepta Therapeutics Inc | COMMON STOCK | $84,920,489 | 3,902,596 | 0.9% | 0.52% |
Top 25 of 85 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 12 | $16.3B | 99.6% |
| Corporations and other businesses | 1 | $62.2M | 0.38% |
Private funds (5)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $11.2B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Ra Capital Healthcare Fund, Lp master | Hedge Fund | Delaware | $9.4B | 1,046 |
| Ra Capital Nexus Iii Fund, L.P. master | Venture Capital Fund | Delaware | $1.0B | 234 |
| Ra Capital Nexus Ii Fund, L.P. master | Venture Capital Fund | Delaware | $430M | 196 |
| Ra Capital Nexus Fund, L.P. master | Venture Capital Fund | Delaware | $309M | 95 |
| Ra Capital Planetary Health Fund, Lp master | Venture Capital Fund | Delaware | $62.2M | 17 |
People (7)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Caliri, Christopher, James | Chief Information Officer | Dec 2018 (8y) | Less than 5% | |
| Aldrich, Richard, H. (Mi Only) | Partner | Oct 2019 (7y) | 10% – 25% | |
| Kolchinsky, Peter, (Nmn) | Portfolio Manager | Oct 2019 (7y) | Less than 5% | |
| Reed, Sarah, Watt Burgess | General Counsel | Oct 2019 (7y) | Less than 5% | |
| Rose, Eric, Paul | Chief Compliance Officer | Oct 2019 (7y) | Less than 5% | |
| Shah, Rajeev, Mahesh | Portfolio Manager | Oct 2019 (7y) | Less than 5% | |
| Saulnier, Michael | Chief Financial Officer | Jan 2021 (6y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Peter Kolchinsky Revocable Trust | Partner | Oct 2019 | A | 50% – 75% |
| Rajeev M. Shah Family Revocable Trust | Partner | Oct 2019 | A | 10% – 25% |
Undisclosed: 0% – 30% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (5, $11.2B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Ra Capital Healthcare Fund, Lp | Hedge Fund | $9.4B | $2.0M | 1,046 |
| Ra Capital Nexus Iii Fund, L.P. | Venture Capital Fund | $1.0B | $10.0M | 234 |
| Ra Capital Nexus Ii Fund, L.P. | Venture Capital Fund | $430M | $10.0M | 196 |
| Ra Capital Nexus Fund, L.P. | Venture Capital Fund | $309M | $10.0M | 95 |
| Ra Capital Planetary Health Fund, Lp | Venture Capital Fund | $62.2M | $0 | 17 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 2.77 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
Allegations: THE REGULATORY ACTION STEMS FROM ALLEGATIONS THAT THE ADVISER VIOLATED RULE 105 OF REGULATION M OF THE SECURITIES EXCHANGE ACT OF 1934 (THE "EXCHANGE ACT"). Status: Final Sanction Detail: THE ADVISER WAS ORDERED TO PAY DISGORGEMENT OF $2,646,395.21 AND PREJUDGMENT INTEREST OF $73,394.16, WHICH WAS PAID TO THE UNITED STATES TREASURY ON SEPTEMBER 19, 2014. THE ADVISER WAS ALSO ORDERED TO PAY A CIVIL MONETARY PENALTY IN THE AMOUNT OF $904,570.84, WHICH WAS PAID TO THE UNITED STATES TREASURY ON SEPTEMBER 19, 2014. Summary: THE ACTION HAS REACHED A FINAL RESOLUTION AND THE ADVISER WAS ORDERED TO CEASE AND DESIST FROM COMMITTING OR CAUSING ANY VIOLATION AND ANY FUTURE VIOLATIONS OF RULE 105 OF REGULATION M OF THE EXCHANGE ACT. THE ADVISER HAS COMPLIED WITH ALL TERMS OF THE ORDER, AND PAYMENT OF THE DISGORGEMENT AND MONETARY PENALTY AMOUNTS SET FORTH ABOVE WAS MADE ON SEPTEMBER 19, 2014.
Disclosure text reproduced verbatim from the firm's own Form ADV filings.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Goldman Sachs $102M (1% of AUM) Feb 2022
- National Financial Services (Fidelity) $18.6M (0% of AUM) Mar 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗