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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
+43.32%
1 Year Est. Return
+340.85%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.36B
AUM Growth
+$297M
Cap. Flow
+$58.3M
Cap. Flow %
4.28%
Top 10 Hldgs %
45.16%
Holding
305
New
90
Increased
79
Reduced
51
Closed
35

Top Buys

Rank Stock Value
1
RNAM
Avidity Biosciences
RNAM
+$31.8M
2
CLDX icon
Celldex Therapeutics
CLDX
+$14.2M
3
IVA
Inventiva
IVA
+$12.6M
4
TERN
Terns Pharmaceuticals
TERN
+$12.3M
5
ABUS icon
Arbutus Biopharma
ABUS
+$11.3M

Top Sells

Rank Stock Value
1
KROS icon
Keros Therapeutics
KROS
+$94.2M
2
ETNB
89bio
ETNB
+$31.1M
3
BIOA
BioAge Labs
BIOA
+$15.5M
4
MTSR
Metsera Inc
MTSR
+$7.98M
5
IVVD icon
Invivyd
IVVD
+$7.22M

Sector Composition

Rank Sector Weight
1 Healthcare 88.69%
2 Financials 1.72%
3 Real Estate 0.12%
4 Communication Services 0.07%
5 Consumer Discretionary 0.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BCAX
226
Bicara Therapeutics
BCAX
$1.84B
$231K 0.02%
13,705
– –
RARE icon
227
CALL
Ultragenyx Pharmaceutical
RARE
$2.55B
$230K 0.02%
+10,000
New +$329K
RXST icon
228
RxSight
RXST
$260M
$227K 0.02%
+21,803
New +$219K
MIST icon
229
Milestone Pharmaceuticals
MIST
$152M
$202K 0.01%
+100,100
New +$216K
DYN icon
230
CALL
Dyne Therapeutics
DYN
$4.9B
$196K 0.01%
10,000
-10,000
-50% -$189K
WHWK
231
Whitehawk Therapeutics
WHWK
$271M
$188K 0.01%
+77,593
New +$178K
TRAW icon
232
Traws Pharma
TRAW
$8.1M
$175K 0.01%
+154,431
New +$343K
KALV
233
DELISTED
KalVista Pharmaceuticals
KALV
$162K 0.01%
10,000
– –
OTLK icon
234
PUT
Outlook Therapeutics
OTLK
$191M
$158K 0.01%
+100,000
New +$160K
RLMD icon
235
Relmada Therapeutics
RLMD
$527M
$149K 0.01%
+30,866
New +$103K
YARW
236
Yarrow Bioscience, Inc. Common Stock
YARW
$111M
$147K 0.01%
+5,076
New +$102K
QNCX icon
237
Quince Therapeutics
QNCX
$29.5M
$144K 0.01%
215
-3,660
-94% -$1.84M
SLN
238
Silence Therapeutics
SLN
$564M
$144K 0.01%
23,643
+5,000
+27% +$32K
RXRX icon
239
Recursion Pharmaceuticals
RXRX
$1.73B
$143K 0.01%
35,000
– –
VYGR icon
240
Voyager Therapeutics
VYGR
$201M
$138K 0.01%
35,000
– –
ZONE
241
CleanCore Solutions
ZONE
$81.5M
$136K 0.01%
+521,980
New +$437K
CMMB
242
Chemomab Therapeutics
CMMB
$14.1M
$132K 0.01%
+80,000
New +$212K
INO icon
243
CALL
Inovio Pharmaceuticals
INO
$69M
$131K 0.01%
+75,500
New +$166K
PMVP icon
244
PMV Pharmaceuticals
PMVP
$63.5M
$126K 0.01%
101,008
– –
GBIO
245
DELISTED
Generation Bio
GBIO
$126K 0.01%
22,144
– –
NEUP
246
Neuphoria Therapeutics
NEUP
$20.6M
$116K 0.01%
+30,000
New +$213K
CLOV icon
247
Clover Health Investments
CLOV
$2.51B
$114K 0.01%
48,300
– –
GOSS icon
248
CALL
Gossamer Bio
GOSS
$87M
$109K 0.01%
35,100
-20,000
-36% -$57.1K
ZNTL icon
249
Zentalis Pharmaceuticals
ZNTL
$302M
$108K 0.01%
80,000
+30,000
+60% +$43.7K
BCAB icon
250
BioAtla
BCAB
$5.74M
$104K 0.01%
+3,662
New +$144K
8 9
10
11 12

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ADAR1 Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, ADAR1 Capital Management held 305 positions worth $1.36B, up 28% from $1.06B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

ADAR1 Capital Management deployed $58.3M of net new capital in Q4 2025, opening 90 new positions and adding to 79 existing holdings. Its largest new stake was Inventiva: 2,709,846 shares worth $12.6M.

By sector, the portfolio is most concentrated in Healthcare at 89% of assets, up from 83% a quarter earlier, followed by Financials and Real Estate.

On the sell side, the largest reduction was Keros Therapeutics, an estimated $94.2M trimmed.

  • ADAR1 Capital Management's largest Q4 2025 buy was Inventiva: 2,709,846 shares worth $12.6M.
  • ADAR1 Capital Management added most to Avidity Biosciences in Q4 2025, an estimated $31.8M increase.
  • ADAR1 Capital Management's biggest Q4 2025 reduction was Keros Therapeutics, cutting an estimated $94.2M.
  • ADAR1 Capital Management fully exited 89bio in Q4 2025, selling an estimated $31.1M.
  • ADAR1 Capital Management's ten largest holdings make up 45% of its $1.36B portfolio in Q4 2025.
  • ADAR1 Capital Management opened 90 new positions and closed 35 in Q4 2025.
  • ADAR1 Capital Management's portfolio value rose 28% quarter-over-quarter to $1.36B.

Based on ADAR1 Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.