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ACM

ADAR1 Capital Management Portfolio holdings

AUM $1.7B
1-Year Est. Return 340.85%
This Fund
S&P 500
This Quarter Est. Return
+150.31%
1 Year Est. Return
+340.85%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.06B
AUM Growth
+$412M
Cap. Flow
+$25.7M
Cap. Flow %
2.41%
Top 10 Hldgs %
48.66%
Holding
270
New
60
Increased
70
Reduced
50
Closed
53

Top Buys

Rank Stock Value
1
IMVT icon
Immunovant
IMVT
+$27.6M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$20.5M
3
ROIV icon
Roivant Sciences
ROIV
+$17.4M
4
ETNB
89bio
ETNB
+$12.6M
5
JANX icon
Janux Therapeutics
JANX
+$7.04M

Top Sells

Rank Stock Value
1
ABVX
Abivax
ABVX
+$105M
2
PRTA icon
Prothena Corp
PRTA
+$14.6M
3
CGON icon
CG Oncology
CGON
+$7.97M
4
SAGE
Sage Therapeutics
SAGE
+$6.58M
5
VERV
Verve Therapeutics
VERV
+$5.27M

Sector Composition

Rank Sector Weight
1 Healthcare 83.19%
2 Financials 1.65%
3 Communication Services 0.09%
4 Consumer Discretionary 0.09%
5 Technology 0.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CASI
226
DELISTED
CASI Pharmaceuticals
CASI
– –
-44,120
Closed -$52.1K
CLBR
227
DELISTED
Colombier Acquisition Corp II
CLBR
– –
-10,000
Closed -$155K
CNTB
228
Connect Biopharma Holdings
CNTB
$139M
– –
-10,300
Closed -$10.1K
CRMD icon
229
CorMedix
CRMD
$584M
– –
-175,000
Closed -$2.16M
DSGN icon
230
Design Therapeutics
DSGN
$876M
– –
-42,408
Closed -$143K
ELDN icon
231
Eledon Pharmaceuticals
ELDN
$285M
– –
-16,900
Closed -$45.8K
EMCGR
232
DELISTED
Embrace Change Acquisition Corp Rights
EMCGR
– –
-13,144
Closed -$1.5K
EMCGW
233
DELISTED
Embrace Change Acquisition Corp Warrants
EMCGW
– –
-18,000
Closed -$360
ENGN icon
234
enGene Therapeutics
ENGN
$121M
– –
-27,787
Closed -$101K
EPIX
235
DELISTED
ESSA Pharma
EPIX
– –
-50,000
Closed -$85K
INMB icon
236
PUT
INmune Bio
INMB
$57.7M
– –
-130,200
Closed -$301K
INZY
237
DELISTED
Inozyme Pharma
INZY
– –
-37,161
Closed -$149K
ITOS
238
DELISTED
iTeos Therapeutics
ITOS
– –
-26,937
Closed -$269K
JANX icon
239
CALL
Janux Therapeutics
JANX
$967M
– –
-264,900
Closed -$6.12M
KVAC
240
DELISTED
Keen Vision Acquisition Corp
KVAC
– –
-75,000
Closed -$862K
KVACW
241
DELISTED
Keen Vision Acquisition Corp Warrant
KVACW
– –
-75,000
Closed -$4.05K
KYMR icon
242
Kymera Therapeutics
KYMR
$8.94B
– –
-13,366
Closed -$583K
MOVE icon
243
Corvex Inc
MOVE
$358M
– –
-2,600
Closed -$13K
NETD
244
DELISTED
Nabors Energy Transition Corp II
NETD
– –
-39,900
Closed -$443K
NKTR icon
245
PUT
Nektar Therapeutics
NKTR
$2.58B
– –
-35,000
Closed -$904K
NTRA icon
246
Natera
NTRA
$46.4B
– –
-2,500
Closed -$422K
NXTC icon
247
NextCure
NXTC
$26.7M
– –
-9,834
Closed -$54.3K
PLRX icon
248
Pliant Therapeutics
PLRX
$65M
– –
-82,189
Closed -$95.3K
PYPD icon
249
PolyPid
PYPD
$92.8M
– –
-103,950
Closed -$367K
RLMD icon
250
Relmada Therapeutics
RLMD
$527M
– –
-130,000
Closed -$78K
7 8 9
10
11

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ADAR1 Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, ADAR1 Capital Management held 270 positions worth $1.06B, up 63% from $652M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

ADAR1 Capital Management's Q3 2025 filing shows 60 new, 70 increased, 50 reduced and 53 closed positions. Its largest new stake was Invivyd: 7,370,987 shares worth $8.11M. The largest sale was Abivax, an estimated $105M.

By sector, the portfolio is most concentrated in Healthcare at 83% of assets, up from 79% a quarter earlier, followed by Financials and Communication Services.

  • ADAR1 Capital Management's largest Q3 2025 buy was Invivyd: 7,370,987 shares worth $8.11M.
  • ADAR1 Capital Management added most to Immunovant in Q3 2025, an estimated $27.6M increase.
  • ADAR1 Capital Management's biggest Q3 2025 reduction was Abivax, cutting an estimated $105M.
  • ADAR1 Capital Management fully exited Sage Therapeutics in Q3 2025, selling an estimated $6.58M.
  • ADAR1 Capital Management's ten largest holdings make up 49% of its $1.06B portfolio in Q3 2025.
  • ADAR1 Capital Management opened 60 new positions and closed 53 in Q3 2025.
  • ADAR1 Capital Management's portfolio value rose 63% quarter-over-quarter to $1.06B.

Based on ADAR1 Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.