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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
IVA
26
Inventiva
IVA
$1.1B
$12.6M 0.93%
+2,709,846
New +$12.6M
ESTA icon
27
Establishment Labs
ESTA
$2.33B
$12.5M 0.92%
171,422
+80,734
+89% +$4.87M
BIL icon
28
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$46.9B
$12.4M 0.91%
135,585
– –
REPL icon
29
Replimune Group
REPL
$1.08B
$12.1M 0.89%
1,241,322
+262,428
+27% +$2.23M
IONS icon
30
Ionis Pharmaceuticals
IONS
$9.06B
$11.6M 0.85%
147,130
+13,312
+10% +$1M
RVMD icon
31
Revolution Medicines
RVMD
$42.1B
$11.6M 0.85%
145,079
+5,943
+4% +$390K
AMLX icon
32
Amylyx Pharmaceuticals
AMLX
$2.69B
$10.8M 0.79%
890,356
+24,154
+3% +$328K
CGON icon
33
CG Oncology
CGON
$6.6B
$10.7M 0.79%
258,139
+9,222
+4% +$382K
TFX icon
34
Teleflex
TFX
$6.15B
$9.84M 0.72%
+80,627
New +$9.77M
IVVD icon
35
Invivyd
IVVD
$194M
$9.63M 0.71%
3,899,397
-3,471,590
-47% -$7.22M
REGN icon
36
Regeneron Pharmaceuticals
REGN
$79.5B
$9.3M 0.68%
12,051
-3,649
-23% -$2.48M
XENE icon
37
Xenon Pharmaceuticals
XENE
$6.24B
$9.14M 0.67%
203,969
+14,871
+8% +$625K
EQ icon
38
Equillium
EQ
$134M
$8.69M 0.64%
5,608,078
+48,090
+0.9% +$58.6K
SVRA icon
39
Savara
SVRA
$1.19B
$8.47M 0.62%
1,405,452
-582,836
-29% -$2.85M
MAZE
40
Maze Therapeutics
MAZE
$1.58B
$7.44M 0.55%
179,532
+153,487
+589% +$5.28M
TEVA icon
41
Teva Pharmaceuticals
TEVA
$40.6B
$7.36M 0.54%
235,971
-31,845
-12% -$785K
CBIO
42
Crescent Biopharma
CBIO
$610M
$7.19M 0.53%
+606,000
New +$7.72M
OVID icon
43
Ovid Therapeutics
OVID
$495M
$6.98M 0.51%
4,285,000
+4,272,154
+33,257% +$6.58M
IWM icon
44
PUT
iShares Russell 2000 ETF
IWM
$82.1B
$6.77M 0.5%
+27,500
New +$6.76M
BLTE
45
Belite Bio
BLTE
$6.44B
$6.37M 0.47%
+39,839
New +$4.72M
VRTX icon
46
Vertex Pharmaceuticals
VRTX
$123B
$6.22M 0.46%
13,716
+6,716
+96% +$2.89M
BHF icon
47
Brighthouse Financial
BHF
$3.57B
$6.19M 0.45%
95,523
+85,523
+855% +$5.03M
AVR
48
Anteris Technologies
AVR
$814M
$6.18M 0.45%
1,238,777
+1,041,162
+527% +$4.77M
AAM
49
DELISTED
AA Mission Acquisition Corp
AAM
$6.17M 0.45%
578,359
– –
TARA icon
50
Protara Therapeutics
TARA
$230M
$6.06M 0.45%
1,136,799
+1,101,576
+3,127% +$6.12M
1
2
3 4 5

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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.