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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
GUTS icon
76
CALL
Fractyl Health
GUTS
$113M
$3.14M 0.23%
+1,428,571
New +$2.3M
SNY icon
77
Sanofi
SNY
$104B
$3.08M 0.23%
63,474
-10,738
-14% -$532K
SRRK icon
78
Scholar Rock
SRRK
$6.38B
$3.07M 0.23%
69,589
+49,502
+246% +$1.86M
NKTR icon
79
Nektar Therapeutics
NKTR
$2.57B
$3.05M 0.22%
72,031
+24
+0% +$1.34K
IWM icon
80
iShares Russell 2000 ETF
IWM
$83B
$2.97M 0.22%
+12,070
New +$2.97M
ZURA icon
81
Zura Bio
ZURA
$565M
$2.95M 0.22%
562,065
-90,089
-14% -$356K
OKUR
82
OnKure Therapeutics
OKUR
$164M
$2.94M 0.22%
+1,014,158
New +$3.04M
URGN icon
83
UroGen Pharma
URGN
$2.3B
$2.94M 0.22%
125,375
+90,375
+258% +$1.96M
LONA
84
LeonaBio Inc
LONA
$70.8M
$2.89M 0.21%
+393,701
New +$1.8M
BBOT
85
BridgeBio Oncology
BBOT
$747M
$2.83M 0.21%
226,248
-274,980
-55% -$3.33M
ELDN icon
86
Eledon Pharmaceuticals
ELDN
$270M
$2.75M 0.2%
+1,821,812
New +$4.33M
ENGN icon
87
enGene Therapeutics
ENGN
$121M
$2.74M 0.2%
+303,686
New +$2.43M
DVAX
88
DELISTED
Dynavax Technologies
DVAX
$2.61M 0.19%
170,000
– –
INO icon
89
Inovio Pharmaceuticals
INO
$67.4M
$2.58M 0.19%
+1,485,008
New +$3.27M
VRDN icon
90
Viridian Therapeutics
VRDN
$2.64B
$2.4M 0.18%
77,198
-24,506
-24% -$672K
PHVS icon
91
Pharvaris
PHVS
$2.46B
$2.37M 0.17%
85,528
+51,404
+151% +$1.24M
CRBP icon
92
Corbus Pharmaceuticals
CRBP
$185M
$2.33M 0.17%
286,781
+276,581
+2,712% +$3.41M
ATXS
93
DELISTED
Astria Therapeutics
ATXS
$2.27M 0.17%
173,557
-20,377
-11% -$243K
DCTH icon
94
Delcath Systems
DCTH
$526M
$2.27M 0.17%
224,385
– –
EWTX icon
95
Edgewise Therapeutics
EWTX
$4.68B
$2.26M 0.17%
90,999
+50,999
+127% +$1.02M
GRCE
96
Grace Therapeutics
GRCE
$34.7M
$2.22M 0.16%
641,988
+291,538
+83% +$926K
RGNX icon
97
Regenxbio
RGNX
$706M
$2.09M 0.15%
144,848
-60,561
-29% -$755K
ACLX
98
DELISTED
Arcellx
ACLX
$2.05M 0.15%
31,484
– –
OLMA icon
99
Olema Pharmaceuticals
OLMA
$1.04B
$2.03M 0.15%
81,399
+45,199
+125% +$804K
MASI
100
DELISTED
Masimo
MASI
$1.95M 0.14%
15,000
– –
2 3
4
5 6

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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.