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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
VKTX icon
51
Viking Therapeutics
VKTX
$3.91B
$4.62M 0.43%
175,919
+108,106
+159% +$3.23M
AAM
52
CALL
DELISTED
AA Mission Acquisition Corp
AAM
$4.26M 0.4%
+405,089
New +$4.24M
REPL icon
53
Replimune Group
REPL
$1.03B
$4.1M 0.39%
978,894
+968,494
+9,312% +$6.19M
NKTR icon
54
Nektar Therapeutics
NKTR
$2.53B
$4.1M 0.38%
72,007
+56,211
+356% +$1.86M
XBI icon
55
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.2B
$4.01M 0.38%
+40,000
New +$3.6M
ESTA icon
56
Establishment Labs
ESTA
$2.34B
$3.72M 0.35%
90,688
+65,688
+263% +$2.68M
SNY icon
57
Sanofi
SNY
$104B
$3.5M 0.33%
74,212
+64,212
+642% +$3.1M
KRYS icon
58
Krystal Biotech
KRYS
$9.51B
$3.27M 0.31%
+18,523
New +$2.77M
NAMS icon
59
NewAmsterdam Pharma
NAMS
$3.32B
$3.25M 0.31%
114,359
+2,000
+2% +$47.9K
FULC icon
60
Fulcrum Therapeutics
FULC
$288M
$3.14M 0.3%
341,612
+288,263
+540% +$2.09M
MRUS
61
DELISTED
Merus
MRUS
$3.14M 0.29%
33,313
+15,000
+82% +$977K
MLYS icon
62
Mineralys Therapeutics
MLYS
$2.39B
$2.97M 0.28%
78,238
-223,887
-74% -$4.84M
KNSA icon
63
Kiniksa Pharmaceuticals
KNSA
$5.94B
$2.92M 0.27%
75,187
+18,647
+33% +$606K
CLDX icon
64
Celldex Therapeutics
CLDX
$3.28B
$2.83M 0.27%
109,442
+51,976
+90% +$1.2M
ZURA icon
65
Zura Bio
ZURA
$559M
$2.82M 0.27%
652,154
-345,393
-35% -$621K
VRTX icon
66
Vertex Pharmaceuticals
VRTX
$124B
$2.74M 0.26%
+7,000
New +$2.93M
ACLX
67
DELISTED
Arcellx
ACLX
$2.58M 0.24%
31,484
+17,522
+125% +$1.26M
BIIB icon
68
Biogen
BIIB
$30.4B
$2.52M 0.24%
18,000
+12,900
+253% +$1.74M
DCTH icon
69
Delcath Systems
DCTH
$536M
$2.41M 0.23%
224,385
+75,000
+50% +$837K
RNAM
70
DELISTED
Avidity Biosciences
RNAM
$2.34M 0.22%
+53,656
New +$2.17M
MDGL icon
71
Madrigal Pharmaceuticals
MDGL
$11.9B
$2.25M 0.21%
4,895
+3,841
+364% +$1.43M
ASPC
72
A SPAC III Acquisition Corp
ASPC
$24.7M
$2.22M 0.21%
215,000
– –
MASI
73
DELISTED
Masimo
MASI
$2.21M 0.21%
+15,000
New +$2.27M
VRDN icon
74
Viridian Therapeutics
VRDN
$2.6B
$2.19M 0.21%
101,704
-68,894
-40% -$1.24M
SMMT icon
75
Summit Therapeutics
SMMT
$11.1B
$2.13M 0.2%
102,969
+90,969
+758% +$2.21M
1 2
3
4 5

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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.