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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
ABVX
1
Abivax
ABVX
$10.4B
$115M 10.77%
1,350,826
-1,720,514
-56% -$105M
KROS icon
2
Keros Therapeutics
KROS
$197M
$85.3M 8.01%
5,389,264
– –
PTGX icon
3
Protagonist Therapeutics
PTGX
$8.54B
$65.7M 6.17%
989,182
+41,113
+4% +$2.34M
ROIV icon
4
Roivant Sciences
ROIV
$23.6B
$50.6M 4.76%
3,347,501
+1,406,704
+72% +$17.4M
BOXX icon
5
Alpha Architect 1-3 Month Box ETF
BOXX
$13.1B
$38.4M 3.61%
337,125
– –
SPY icon
6
State Street SPDR S&P 500 ETF Trust
SPY
$772B
$36.4M 3.42%
54,684
+32,000
+141% +$20.5M
IMVT icon
7
Immunovant
IMVT
$7.93B
$36.1M 3.39%
2,241,753
+1,706,687
+319% +$27.6M
ETNB
8
DELISTED
89bio
ETNB
$31.1M 2.92%
2,113,153
+1,237,170
+141% +$12.6M
SPY icon
9
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$772B
$30.3M 2.85%
45,500
+5,000
+12% +$3.21M
ZLAB icon
10
Zai Lab
ZLAB
$2.07B
$29.4M 2.77%
868,780
+18,343
+2% +$632K
CYTK icon
11
Cytokinetics
CYTK
$10.6B
$28.5M 2.68%
518,921
-63,226
-11% -$2.6M
SEPN
12
Septerna Inc
SEPN
$1.52B
$22.1M 2.08%
1,176,491
+329,264
+39% +$4.32M
PRTA icon
13
Prothena Corp
PRTA
$449M
$14.3M 1.35%
1,469,098
-1,905,911
-56% -$14.6M
BBIO icon
14
BridgeBio Pharma
BBIO
$16.4B
$14.2M 1.33%
273,414
+13,755
+5% +$671K
ABUS icon
15
Arbutus Biopharma
ABUS
$845M
$13.2M 1.24%
2,903,226
+77,453
+3% +$284K
RAPT
16
DELISTED
RAPT Therapeutics
RAPT
$13.1M 1.23%
507,771
-275,446
-35% -$3.6M
CTMX icon
17
CytomX Therapeutics
CTMX
$690M
$12.9M 1.21%
4,045,414
+964,000
+31% +$2.17M
BIL icon
18
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$47.1B
$12.4M 1.17%
135,585
– –
AMLX icon
19
Amylyx Pharmaceuticals
AMLX
$2.19B
$11.8M 1.11%
866,202
-338,899
-28% -$3.19M
QURE icon
20
CALL
uniQure
QURE
$2.75B
$11.7M 1.1%
+200,000
New +$3.63M
BIOA
21
BioAge Labs
BIOA
$987M
$11.1M 1.04%
1,880,073
-57,050
-3% -$267K
MNPR icon
22
Monopar Therapeutics
MNPR
$715M
$10.6M 1%
129,999
+29,025
+29% +$1.3M
CRNX icon
23
Crinetics Pharmaceuticals
CRNX
$8.88B
$10.3M 0.97%
248,368
+195,243
+368% +$6.24M
LXEO icon
24
Lexeo Therapeutics
LXEO
$338M
$10.2M 0.96%
1,531,953
+1,386,844
+956% +$6.71M
CGON icon
25
CG Oncology
CGON
$6.1B
$10M 0.94%
248,917
-274,299
-52% -$7.97M
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.