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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
+13.53%
1 Year Est. Return
+340.85%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$652M
AUM Growth
+$113M
Cap. Flow
+$93.9M
Cap. Flow %
14.4%
Top 10 Hldgs %
48.49%
Holding
247
New
47
Increased
63
Reduced
54
Closed
37

Top Buys

Rank Stock Value
1
KROS icon
Keros Therapeutics
KROS
+$52.7M
2
PRTA icon
Prothena Corp
PRTA
+$25.3M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$13M
4
CYTK icon
Cytokinetics
CYTK
+$6.66M
5
SVRA icon
Savara
SVRA
+$6.09M

Top Sells

Rank Stock Value
1
ROIV icon
Roivant Sciences
ROIV
+$16.7M
2
SWTX
SpringWorks Therapeutics
SWTX
+$8.17M
3
IMVT icon
Immunovant
IMVT
+$6.56M
4
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$6.34M
5
AVR
Anteris Technologies
AVR
+$4.66M

Sector Composition

Rank Sector Weight
1 Healthcare 78.96%
2 Financials 2.75%
3 Consumer Staples 0.04%
4 Technology 0%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KROS icon
1
Keros Therapeutics
KROS
$201M
$71.9M 11.03%
5,389,264
+3,902,803
+263% +$52.7M
PTGX icon
2
Protagonist Therapeutics
PTGX
$8.74B
$52.4M 8.04%
948,069
+8,400
+0.9% +$403K
BOXX icon
3
Alpha Architect 1-3 Month Box ETF
BOXX
$13.1B
$38M 5.83%
337,125
– –
ZLAB icon
4
Zai Lab
ZLAB
$2.09B
$29.7M 4.56%
850,437
-90,421
-10% -$2.97M
SPY icon
5
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$25M 3.84%
+40,500
New +$23.2M
ABVX
6
Abivax
ABVX
$10.7B
$23.5M 3.6%
3,071,340
+861,321
+39% +$5.61M
ROIV icon
7
Roivant Sciences
ROIV
$24.1B
$21.9M 3.35%
1,940,797
-1,542,607
-44% -$16.7M
PRTA icon
8
Prothena Corp
PRTA
$452M
$20.5M 3.14%
+3,375,009
New +$25.3M
CYTK icon
9
Cytokinetics
CYTK
$10.8B
$19.2M 2.95%
582,147
+191,418
+49% +$6.66M
SPY icon
10
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$14M 2.15%
+22,684
New +$13M
CGON icon
11
CG Oncology
CGON
$6.23B
$13.6M 2.09%
523,216
+222,082
+74% +$5.35M
BIL icon
12
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$47.1B
$12.4M 1.91%
135,585
– –
BBIO icon
13
BridgeBio Pharma
BBIO
$16.7B
$11.2M 1.72%
259,659
-79,976
-24% -$2.91M
IKT icon
14
Inhibikase Therapeutics
IKT
$353M
$9.99M 1.53%
5,122,105
– –
SEPN
15
Septerna Inc
SEPN
$1.55B
$8.96M 1.37%
847,227
+126,379
+18% +$1.04M
ABUS icon
16
Arbutus Biopharma
ABUS
$861M
$8.73M 1.34%
2,825,773
+946,659
+50% +$3.14M
ETNB
17
DELISTED
89bio
ETNB
$8.6M 1.32%
875,983
+71,763
+9% +$594K
IMVT icon
18
Immunovant
IMVT
$8.05B
$8.56M 1.31%
535,066
-433,800
-45% -$6.56M
SVRA icon
19
Savara
SVRA
$1.09B
$8.21M 1.26%
3,600,670
+2,240,379
+165% +$6.09M
XENE icon
20
Xenon Pharmaceuticals
XENE
$6.23B
$8.12M 1.25%
259,503
+131,955
+103% +$4.3M
BIOA
21
BioAge Labs
BIOA
$974M
$8M 1.23%
1,937,123
+966,023
+99% +$3.89M
PCSC
22
DELISTED
Perceptive Capital Solutions
PCSC
$7.96M 1.22%
750,000
– –
AMLX icon
23
Amylyx Pharmaceuticals
AMLX
$2.22B
$7.72M 1.18%
1,205,101
-266,486
-18% -$1.3M
CTMX icon
24
CytomX Therapeutics
CTMX
$708M
$6.99M 1.07%
3,081,414
+3,034,378
+6,451% +$4.89M
TSHA icon
25
Taysha Gene Therapies
TSHA
$1.66B
$6.95M 1.07%
3,009,870
+1,943,561
+182% +$4.22M
1
2 3 4 5

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ADAR1 Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, ADAR1 Capital Management held 247 positions worth $652M, up 21% from $539M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

ADAR1 Capital Management deployed $93.9M of net new capital in Q2 2025, opening 47 new positions and adding to 63 existing holdings. Its largest new stake was Prothena Corp: 3,375,009 shares worth $20.5M.

By sector, the portfolio is most concentrated in Healthcare at 79% of assets, up from 78% a quarter earlier, followed by Financials and Consumer Staples.

On the sell side, the largest reduction was Roivant Sciences, an estimated $16.7M trimmed.

  • ADAR1 Capital Management's largest Q2 2025 buy was Prothena Corp: 3,375,009 shares worth $20.5M.
  • ADAR1 Capital Management added most to Keros Therapeutics in Q2 2025, an estimated $52.7M increase.
  • ADAR1 Capital Management's biggest Q2 2025 reduction was Roivant Sciences, cutting an estimated $16.7M.
  • ADAR1 Capital Management fully exited Intra-Cellular Therapies Inc. in Q2 2025, selling an estimated $6.34M.
  • ADAR1 Capital Management's ten largest holdings make up 48% of its $652M portfolio in Q2 2025.
  • ADAR1 Capital Management opened 47 new positions and closed 37 in Q2 2025.
  • ADAR1 Capital Management's portfolio value rose 21% quarter-over-quarter to $652M.

Based on ADAR1 Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.