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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
ZNTL icon
201
Zentalis Pharmaceuticals
ZNTL
$300M
$75.5K 0.01%
50,000
– –
TERN
202
DELISTED
Terns Pharmaceuticals
TERN
$75.1K 0.01%
10,000
-18,415
-65% -$118K
STI icon
203
CALL
Solidion Technology
STI
$61.3M
$62.6K 0.01%
+13,500
New +$57.2K
ATYR
204
CALL
aTyr Pharma
ATYR
$50.1M
$61.2K 0.01%
+84,800
New +$384K
ASPCR
205
A SPAC III Acquisition Corp Right
ASPCR
$41K ﹤0.01%
215,000
– –
PHGE icon
206
BiomX
PHGE
$1.85M
$40.8K ﹤0.01%
4,087
-11,681
-74% -$108K
SABS icon
207
SAB Biotherapeutics
SABS
$298M
$30.1K ﹤0.01%
+15,000
New +$33.9K
NERV icon
208
Minerva Neurosciences
NERV
$199M
$26.1K ﹤0.01%
12,406
– –
MURA
209
DELISTED
Mural Oncology
MURA
$24.5K ﹤0.01%
11,855
– –
IBIO icon
210
iBio
IBIO
$70M
$22.4K ﹤0.01%
27,000
-27,819
-51% -$21.4K
PRQR icon
211
ProQR Therapeutics
PRQR
$265M
$21.3K ﹤0.01%
10,000
– –
GUTS icon
212
Fractyl Health
GUTS
$111M
$20.8K ﹤0.01%
+13,097
New +$17K
CHRS icon
213
Coherus Oncology
CHRS
$196M
$17K ﹤0.01%
10,366
– –
OVID icon
214
Ovid Therapeutics
OVID
$491M
$16.7K ﹤0.01%
12,846
-103,021
-89% -$89.3K
CYPH
215
Cypherpunk Technologies Inc
CYPH
$73.3M
$11.7K ﹤0.01%
25,830
-14,095
-35% -$4.44K
ALDX icon
216
Aldeyra Therapeutics
ALDX
$93.5M
– –
-249,920
Closed -$957K
ALEC icon
217
Alector
ALEC
$198M
– –
-1,723,526
Closed -$2.41M
APGE icon
218
Apogee Therapeutics
APGE
$10.2B
– –
-18,070
Closed -$785K
ARDX icon
219
Ardelyx
ARDX
$988M
– –
-915,130
Closed -$3.59M
ARGX icon
220
argenx
ARGX
$54.1B
– –
-1,759
Closed -$970K
AUPH icon
221
Aurinia Pharmaceuticals
AUPH
$2.04B
– –
-10,000
Closed -$84.7K
AVXL icon
222
Anavex Life Sciences
AVXL
$310M
– –
-16,221
Closed -$150K
BCAB icon
223
BioAtla
BCAB
$5.74M
– –
-3,410
Closed -$67.5K
BOLT icon
224
Bolt Biotherapeutics
BOLT
$7.78M
– –
-10,823
Closed -$62.4K
BPMC
225
DELISTED
Blueprint Medicines
BPMC
– –
-15,000
Closed -$1.92M
7 8
9
10 11

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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.