ADAR1 Capital Management, LLC 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
ADAR1 Capital Management, LLC disclosed 249 US equity positions worth $1.3bn in its Q4 2025 13F filing. The largest position was ABVX at 13.3% of the reported book, followed by PTGX and ROIV. Against the Q3 2025 filing, it opened 4 new positions, added to 30 and reduced 11 among the top 50 holdings.
What did ADAR1 Capital Management, LLC own in Q4 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | ABVX ABIVAX SA | 13.3% | $177.6m | 1,317,329 | -2% | reduced | |
| 2 | PTGX PROTAGONIST THERAPEUTICS INC | Healthcare | 6.9% | $91.6m | 1,049,168 | 6% | added |
| 3 | ROIV ROIVANT SCIENCES LTD | Healthcare | 5.6% | $74.4m | 3,428,962 | 2% | added |
| 4 | IMVT IMMUNOVANT INC | Healthcare | 4.7% | $63.1m | 2,480,968 | 11% | added |
| 5 | RNAGBP AVIDITY BIOSCIENCES INC | 2.9% | $39.4m | 546,534 | 919% | added | |
| 6 | BOXX EA SERIES TRUST | 2.9% | $38.8m | 337,125 | 0% | held | |
| 7 | SPY SPDR S&P 500 ETF TR | 2.8% | $37.3m | 54,684 | 0% | held | |
| 8 | CYTK CYTOKINETICS INC | Healthcare | 2.6% | $34.3m | 540,166 | 4% | added |
| 9 | SEPN SEPTERNA INC | 2.4% | $32.3m | 1,157,611 | -2% | reduced | |
| 10 | ABUS ARBUTUS BIOPHARMA CORP | Healthcare | 1.9% | $26.0m | 5,415,109 | 87% | added |
| 11 | ZLAB ZAI LAB LTD | Healthcare | 1.6% | $22.0m | 1,246,520 | 43% | added |
| 12 | 430 TERNS PHARMACEUTICALS INC | 1.6% | $21.9m | 541,615 | 5316% | added | |
| 13 | CTMX CYTOMX THERAPEUTICS INC | Healthcare | 1.3% | $17.8m | 4,182,769 | 3% | added |
| 14 | CLDX CELLDEX THERAPEUTICS INC NEW | Healthcare | 1.3% | $17.6m | 646,767 | 491% | added |
| 15 | RAPT RAPT THERAPEUTICS INC | 1.3% | $17.3m | 509,679 | 0% | held | |
| 16 | IKT INHIBIKASE THERAPEUTICS INC | 1.2% | $16.5m | 8,063,949 | 54% | added | |
| 17 | BBIO BRIDGEBIO PHARMA INC | Healthcare | 1.2% | $16.3m | 213,414 | -22% | reduced |
| 18 | MNPR MONOPAR THERAPEUTICS INC | 1.1% | $15.3m | 233,908 | 80% | added | |
| 19 | PCVX VAXCYTE INC | Healthcare | 1.1% | $14.6m | 315,642 | 48% | added |
| 20 | CRNXGBP CRINETICS PHARMACEUTICALS IN | 1.1% | $14.4m | 309,368 | 25% | added | |
| 21 | FULC FULCRUM THERAPEUTICS INC | Healthcare | 1.1% | $14.2m | 1,253,749 | 267% | added |
| 22 | PROTHENA CORP PLC | 1.0% | $13.9m | 1,457,764 | -1% | reduced | |
| 23 | LXEO LEXEO THERAPEUTICS INC | Healthcare | 1.0% | $13.8m | 1,393,161 | -9% | reduced |
| 24 | TSHA TAYSHA GENE THERAPIES INC | Healthcare | 1.0% | $13.7m | 2,495,809 | -12% | reduced |
| 25 | CDTX CIDARA THERAPEUTICS INC | 1.0% | $13.2m | 59,677 | 177% | added | |
| 26 | IVA INVENTIVA SA | 0.9% | $12.6m | 2,709,846 | – | new | |
| 27 | ESTA ESTABLISHMENT LABS HLDGS INC | Healthcare | 0.9% | $12.5m | 171,422 | 89% | added |
| 28 | BIL SPDR SERIES TRUST | 0.9% | $12.4m | 135,585 | 0% | held | |
| 29 | REPL REPLIMUNE GROUP INC | Healthcare | 0.9% | $12.1m | 1,241,322 | 27% | added |
| 30 | IONS IONIS PHARMACEUTICALS INC | Healthcare | 0.9% | $11.6m | 147,130 | 10% | added |
| 31 | RVMD REVOLUTION MEDICINES INC | Healthcare | 0.9% | $11.6m | 145,079 | 4% | added |
| 32 | AMLX AMYLYX PHARMACEUTICALS INC | Healthcare | 0.8% | $10.8m | 890,356 | 3% | added |
| 33 | CGON CG ONCOLOGY INC | Healthcare | 0.8% | $10.7m | 258,139 | 4% | added |
| 34 | TFX TELEFLEX INCORPORATED | Healthcare | 0.7% | $9.8m | 80,627 | – | new |
| 35 | IVVD INVIVYD INC | Healthcare | 0.7% | $9.6m | 3,899,397 | -47% | reduced |
| 36 | REGN REGENERON PHARMACEUTICALS | Healthcare | 0.7% | $9.3m | 12,051 | -23% | reduced |
| 37 | XENE XENON PHARMACEUTICALS INC | Healthcare | 0.7% | $9.1m | 203,969 | 8% | added |
| 38 | EQ EQUILLIUM INC | 0.7% | $8.7m | 5,608,078 | 1% | added | |
| 39 | SVRA SAVARA INC | Healthcare | 0.6% | $8.5m | 1,405,452 | -29% | reduced |
| 40 | MAZE MAZE THERAPEUTICS INC | 0.6% | $7.4m | 179,532 | 589% | added | |
| 41 | TEVA TEVA PHARMACEUTICAL INDS LTD | Healthcare | 0.6% | $7.4m | 235,971 | -12% | reduced |
| 42 | CBIO CRESCENT BIOPHARMA INC. | 0.5% | $7.2m | 606,000 | – | new | |
| 43 | OVID OVID THERAPEUTICS INC | Healthcare | 0.5% | $7.0m | 4,285,000 | 33257% | added |
| 44 | BLTE BELITE BIO INC | Healthcare | 0.5% | $6.4m | 39,839 | – | new |
| 45 | VRTX VERTEX PHARMACEUTICALS INC | Healthcare | 0.5% | $6.2m | 13,716 | 96% | added |
| 46 | BHF BRIGHTHOUSE FINL INC | Financial Services | 0.5% | $6.2m | 95,523 | 855% | added |
| 47 | AVR ANTERIS TECHNOLOGIES GLOBAL | 0.5% | $6.2m | 1,238,777 | 527% | added | |
| 48 | AA MISSION ACQUISITION CORP | 0.5% | $6.2m | 578,359 | 0% | held | |
| 49 | TARA PROTARA THERAPEUTICS INC | 0.5% | $6.1m | 1,136,799 | 3127% | added | |
| 50 | PERCEPTIVE CAP SOLUTIONS COR | 0.4% | $6.0m | 456,720 | -39% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.