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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
PCSC
51
DELISTED
Perceptive Capital Solutions
PCSC
$5.95M 0.44%
456,720
-293,280
-39% -$3.42M
DHR icon
52
Danaher
DHR
$144B
$5.86M 0.43%
+25,600
New +$5.63M
CLYM
53
Climb Bio
CLYM
$802M
$5.73M 0.42%
1,432,475
+1,298,945
+973% +$3.12M
QURE icon
54
uniQure
QURE
$3.22B
$5.63M 0.41%
235,155
+101,839
+76% +$3.93M
RYTM icon
55
Rhythm Pharmaceuticals
RYTM
$7.96B
$5.5M 0.4%
51,349
+1,778
+4% +$189K
OACCU
56
Oaktree Acquisition Corp III Life Sciences Unit
OACCU
$5.49M 0.4%
516,482
– –
ASND icon
57
Ascendis Pharma A/S
ASND
$16.8B
$5.4M 0.4%
25,314
-11,031
-30% -$2.28M
AGIO icon
58
Agios Pharmaceuticals
AGIO
$1.93B
$5.12M 0.38%
188,000
+151,000
+408% +$5.3M
SPRB
59
Spruce Biosciences
SPRB
$129M
$5.05M 0.37%
+58,000
New +$6.21M
MLYS icon
60
Mineralys Therapeutics
MLYS
$2.41B
$4.94M 0.36%
136,231
+57,993
+74% +$2.33M
KRYS icon
61
Krystal Biotech
KRYS
$9.66B
$4.93M 0.36%
20,014
+1,491
+8% +$314K
PALI icon
62
Palisade Bio
PALI
$367M
$4.71M 0.35%
+2,004,845
New +$3.85M
AAM
63
CALL
DELISTED
AA Mission Acquisition Corp
AAM
$4.32M 0.32%
405,089
– –
SPRY icon
64
ARS Pharmaceuticals
SPRY
$612M
$4.31M 0.32%
369,569
+310,339
+524% +$3.02M
BIIB icon
65
Biogen
BIIB
$30.7B
$4.28M 0.31%
24,300
+6,300
+35% +$1.03M
NAMS icon
66
NewAmsterdam Pharma
NAMS
$3.34B
$4.16M 0.31%
118,623
+4,264
+4% +$155K
AEXA
67
American Exceptionalism Acquisition Corp
AEXA
$573M
$4.07M 0.3%
357,539
+307,539
+615% +$3.45M
ARWR icon
68
Arrowhead Research
ARWR
$12.4B
$3.86M 0.28%
58,200
+8,400
+17% +$412K
ATAI icon
69
AtaiBeckley Inc
ATAI
$2.68B
$3.74M 0.27%
913,242
– –
CRVS icon
70
Corvus Pharmaceuticals
CRVS
$1.17B
$3.59M 0.26%
+465,875
New +$3.67M
JANX icon
71
Janux Therapeutics
JANX
$967M
$3.39M 0.25%
245,452
-105,580
-30% -$2.48M
GLUE icon
72
Monte Rosa Therapeutics
GLUE
$1.34B
$3.38M 0.25%
215,752
– –
AVDL
73
DELISTED
Avadel Pharmaceuticals
AVDL
$3.24M 0.24%
+150,532
New +$2.92M
CTNM
74
Contineum Therapeutics
CTNM
$566M
$3.19M 0.23%
278,961
+201,000
+258% +$2.29M
EVMN
75
Evommune Inc
EVMN
$507M
$3.15M 0.23%
+184,062
New +$3.46M
1 2
3
4 5

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GAM
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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.