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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
(+28%)
Cap. Flow
+$58.3M
Cap. Flow
% of AUM
4.28%
Top 10 Holdings %
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 |
Celldex Therapeutics
CLDX
|
+$14.2M |
| 3 |
IVA
Inventiva
IVA
|
+$12.6M |
| 4 |
TERN
Terns Pharmaceuticals
TERN
|
+$12.3M |
| 5 |
Arbutus Biopharma
ABUS
|
+$11.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
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 |
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 | |
|---|---|---|---|---|---|---|
251
SAB Biotherapeutics
SABS
$355M
| $98.5K | 0.01% |
26,344
+11,344
| +76% | +$37.3K |
|
252
CALL
Solidion Technology
STI
$61.3M
| $95.7K | 0.01% |
13,500
| – | – |
|
|
KYNB
253
Kyntra Bio
KYNB
$29.4M
| $91.9K | 0.01% |
+10,469
| New | +$102K |
|
254
Rezolute
RZLT
$452M
| $91.3K | 0.01% |
38,679
-777,296
| -95% | -$6.09M |
|
255
Neumora Therapeutics
NMRA
$302M
| $90.6K | 0.01% |
+50,600
| New | +$111K |
|
256
Pliant Therapeutics
PLRX
$65M
| $90.1K | 0.01% |
+73,819
| New | +$111K |
|
|
LITS
257
Lite Strategy Inc
LITS
$30.9M
| $88.8K | 0.01% |
67,292
-225,105
| -77% | -$425K |
|
|
IRD
258
Opus Genetics
IRD
$302M
| $80.4K | 0.01% |
+40,000
| New | +$81.2K |
|
259
PUT
VistaGen Therapeutics
VTGN
$12.8M
| $79.4K | 0.01% |
+120,000
| New | +$433K |
|
260
KALA BIO
KALA
$14.5M
| $78.6K | 0.01% |
2,830
-10
| -0.4% | -$448 |
|
261
Veru
VERU
$37.4M
| $74.9K | 0.01% |
+35,000
| New | +$104K |
|
262
Q32 Bio
QTTB
$464M
| $66.4K | ﹤0.01% |
+20,000
| New | +$56.5K |
|
|
MREO
263
Mereo BioPharma
MREO
$47.3M
| $62.5K | ﹤0.01% |
+150,000
| New | +$286K |
|
264
Biomea Fusion
BMEA
$91.3M
| $53.8K | ﹤0.01% |
+43,420
| New | +$60.8K |
|
|
ASPCR
265
A SPAC III Acquisition Corp Right
ASPCR
| $40.9K | ﹤0.01% |
215,000
| – | – |
|
|
ATYR
266
aTyr Pharma
ATYR
$50.1M
| $39.7K | ﹤0.01% |
50,685
-124,315
| -71% | -$102K |
|
267
ProQR Therapeutics
PRQR
$265M
| $20.2K | ﹤0.01% |
10,000
| – | – |
|
|
IVF
268
INVO Fertility Inc
IVF
$1.89M
| $20.1K | ﹤0.01% |
+5,344
| New | +$93.1K |
|
|
IOBT
269
DELISTED
IO Biotech
IOBT
| $15.2K | ﹤0.01% |
+24,964
| New | +$18.6K |
|
270
Coherus Oncology
CHRS
$196M
| $14.7K | ﹤0.01% |
10,366
| – | – |
|
|
AKRO
271
DELISTED
Akero Therapeutics
AKRO
| – | – |
-6,143
| Closed | -$292K |
|
|
ANSC
272
Agriculture & Natural Solutions Acquisition Corp
ANSC
$476M
| – | – |
-27,062
| Closed | -$296K |
|
273
Avalo Therapeutics
AVTX
$983M
| – | – |
-32,393
| Closed | -$412K |
|
274
CALL
Biohaven
BHVN
$2.21B
| – | – |
-25,000
| Closed | -$375K |
|
|
DAWN
275
DELISTED
Day One Biopharmaceuticals
DAWN
| – | – |
-28,023
| Closed | -$198K |
|
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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.