ADAR1 Capital Management, LLC — 13F Holdings & Portfolio
CIK 1940272 · latest 13F-HR filed 2026-05-18
ADAR1 Capital Management, LLC manages $1.70B in 13F-reported U.S. long-equity assets across 311 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are ABVX (9.14%), PTGX (6.17%), ROIV (5.36%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 75 new positions, exited 30, added to 96, and trimmed 80.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$1.70B
Long-equity book
311
Distinct positions
2026-03-31
Filed 2026-05-18
+75 / −30 / ↑96 / ↓80
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- DENALI THERAPEUTICS INC$35.1M +4076.0%
- CRINETICS PHARMACEUTICALS IN$27.0M +187.3%
- TERNS PHARMACEUTICALS INC$26.3M +120.4%
- INSPIRE MED SYS INC$19.5M +1410.7%
- SCHOLAR ROCK HLDG CORP$17.0M +553.1%
Top Trims
- ABIVAX SA-$22.4M -12.6%
- FULCRUM THERAPEUTICS INC-$13.2M -92.9%
- ARBUTUS BIOPHARMA CORP-$11.9M -45.9%
- BRIDGEBIO PHARMA INC-$9.3M -57.1%
- TELEFLEX INCORPORATED-$7.3M -74.2%
New Positions
- BEAM THERAPEUTICS INC$34.5M
- VIR BIOTECHNOLOGY INC$24.6M
- DBV TECHNOLOGIES S A$21.2M
- HELIX ACQUISITION CORP III$10.3M
- MOONLAKE IMMUNOTHERAPEUTICS$8.5M
Exited Positions
- AVIDITY BIOSCIENCES INC$39.4M
- RAPT THERAPEUTICS INC$17.3M
- CIDARA THERAPEUTICS INC$13.2M
- AA MISSION ACQUISITION CORP$6.2M
- ATAI BECKLEY NV$3.7M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | ABIVAX SA | ABVX | 00370M103 | $155.2M | 9.14% | 1,394,019 | SH |
| 2 | PROTAGONIST THERAPEUTICS INC | PTGX | 74366E102 | $104.8M | 6.17% | 994,119 | SH |
| 3 | ROIVANT SCIENCES LTD | ROIV | G76279101 | $91.0M | 5.36% | 3,285,906 | SH |
| 4 | IMMUNOVANT INC | IMVT | 45258J102 | $66.5M | 3.92% | 2,679,010 | SH |
| 5 | STATE STR SPDR S&P 500 ETF T | SPY | 78462F103 | $49.4M | 2.91% | 75,940 | SH |
| 6 | TERNS PHARMACEUTICALS INC | TERN | 880881107 | $48.2M | 2.84% | 914,699 | SH |
| 7 | CYTOKINETICS INC | CYTK | 23282W605 | $41.7M | 2.45% | 632,556 | SH |
| 8 | CRINETICS PHARMACEUTICALS IN | CRNX | 22663K107 | $41.4M | 2.44% | 1,139,331 | SH |
| 9 | EA SERIES TRUST | BOXX | 02072L565 | $39.2M | 2.31% | 337,125 | SH |
| 10 | DENALI THERAPEUTICS INC | DNLI | 24823R105 | $35.9M | 2.12% | 1,871,455 | SH |
| 11 | BEAM THERAPEUTICS INC | BEAM | 07373V105 | $34.5M | 2.03% | 1,446,375 | SH |
| 12 | ZAI LAB LTD | ZLAB | 98887Q104 | $26.8M | 1.58% | 1,425,367 | SH |
| 13 | SEPTERNA INC | SEPN | 81734D104 | $26.2M | 1.54% | 1,089,818 | SH |
| 14 | VIR BIOTECHNOLOGY INC | VIR | 92764N102 | $24.6M | 1.45% | 2,744,714 | SH |
| 15 | DBV TECHNOLOGIES S A | DBVT | 23306J309 | $21.2M | 1.25% | 1,012,866 | SH |
| 16 | ANTERIS TECHNOLOGIES GLOBAL | AVR | 03675P102 | $21.0M | 1.24% | 3,789,132 | SH |
| 17 | INSPIRE MED SYS INC | INSP | 457730109 | $20.9M | 1.23% | 405,197 | SH |
| 18 | SCHOLAR ROCK HLDG CORP | SRRK | 80706P103 | $20.0M | 1.18% | 407,273 | SH |
| 19 | RHYTHM PHARMACEUTICALS INC | RYTM | 76243J105 | $18.4M | 1.08% | 211,450 | SH |
| 20 | SPYRE THERAPEUTICS INC | SYRE | 00773J202 | $17.1M | 1.00% | 338,323 | SH |
| 21 | CYTOMX THERAPEUTICS INC. | CTMX | 23284F105 | $16.0M | 0.94% | 3,410,190 | SH |
| 22 | PROTHENA CORP PLC | PRTA | G72800108 | $15.4M | 0.90% | 1,581,443 | SH |
| 23 | SANOFI SA | SNY | 80105N105 | $15.3M | 0.90% | 316,939 | SH |
| 24 | VAXCYTE INC | PCVX | 92243G108 | $15.1M | 0.89% | 259,137 | SH |
| 25 | MONOPAR THERAPEUTICS INC | MNPR | 61023L207 | $14.5M | 0.85% | 264,278 | SH |
| 26 | ARBUTUS BIOPHARMA CORP | ABUS | 03879J100 | $14.1M | 0.83% | 3,133,175 | SH |
| 27 | AMYLYX PHARMACEUTICALS INC | AMLX | 03237H101 | $13.9M | 0.82% | 1,000,604 | SH |
| 28 | CELLDEX THERAPEUTICS INC NEW | CLDX | 15117B202 | $13.6M | 0.80% | 427,816 | SH |
| 29 | TAYSHA GENE THERAPIES INC | TSHA | 877619106 | $13.3M | 0.78% | 2,979,429 | SH |
| 30 | XENON PHARMACEUTICALS INC | XENE | 98420N105 | $13.3M | 0.78% | 228,899 | SH |
| 31 | SUTRO BIOPHARMA INC | STRO | 869367201 | $13.1M | 0.77% | 524,441 | SH |
| 32 | REVOLUTION MEDICINES INC | RVMD | 76155X100 | $13.0M | 0.77% | 133,893 | SH |
| 33 | ENLIVEN THERAPEUTICS INC | ELVN | 29337E102 | $12.9M | 0.76% | 329,540 | SH |
| 34 | CG ONCOLOGY INC | CGON | 156944100 | $12.6M | 0.74% | 185,699 | SH |
| 35 | SPDR SERIES TRUST | BIL | 78468R663 | $12.4M | 0.73% | 135,585 | SH |
| 36 | ESTABLISHMENT LABS HLDGS INC | ESTA | G31249108 | $12.1M | 0.71% | 213,473 | SH |
| 37 | REPLIMUNE GROUP INC | REPL | 76029N106 | $12.1M | 0.71% | 1,582,987 | SH |
| 38 | INVENTIVA SA | IVA | 46124U107 | $12.1M | 0.71% | 2,174,398 | SH |
| 39 | IONIS PHARMACEUTICALS INC | IONS | 462222100 | $12.0M | 0.71% | 160,338 | SH |
| 40 | NEKTAR THERAPEUTICS | NKTR | 640268306 | $11.6M | 0.68% | 161,252 | SH |
| 41 | INHIBIKASE THERAPEUTICS INC | IKT | 45719W205 | $11.1M | 0.65% | 6,606,572 | SH |
| 42 | ARS PHARMACEUTICALS INC | SPRY | 82835W108 | $10.9M | 0.64% | 1,361,536 | SH |
| 43 | TERNS PHARMACEUTICALS INC Call | TERN | 880881107 | $10.5M | 0.62% | 200,000 | SH |
| 44 | HELIX ACQUISITION CORP III | HLXC | G4444S107 | $10.3M | 0.61% | 1,000,000 | SH |
| 45 | OVID THERAPEUTICS INC | OVID | 690469101 | $10.1M | 0.59% | 4,544,113 | SH |
| 46 | ONKURE THERAPEUTICS INC | OKUR | 68277Q105 | $10.1M | 0.59% | 2,434,941 | SH |
| 47 | REGENERON PHARMACEUTICALS | REGN | 75886F107 | $9.4M | 0.55% | 12,154 | SH |
| 48 | MOONLAKE IMMUNOTHERAPEUTICS | MLTX | 61559X104 | $8.5M | 0.50% | 457,137 | SH |
| 49 | LEXEO THERAPEUTICS INC | LXEO | 52886X107 | $8.4M | 0.50% | 1,467,350 | SH |
| 50 | OPUS GENETICS INC | IRD | 67577R102 | $8.4M | 0.50% | 1,849,004 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-18 | $1.70B | 311 | 0001940272-26-000005 |
| 2025-12-31 | 2026-02-18 | $1.36B | 270 | 0001940272-26-000003 |
| 2025-12-31 | 2026-02-17 | $1.38B | 270 | 0001940272-26-000002 |