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ADAR1 Capital Management, LLC — 13F Holdings & Portfolio

CIK 1940272 · latest 13F-HR filed 2026-08-14

Backtest portfolio

ADAR1 Capital Management, LLC manages $2.19B in 13F-reported U.S. long-equity assets across 277 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are ABVX (11.01%), PTGX (5.39%), ROIV (5.11%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 44 new positions and exited 71; 131 existing positions rose in reported value and 61 fell.

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.

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AUM
$2.19B

Long-equity book

Holdings
277

Distinct positions

Period
2026-06-30

Filed 2026-08-14

Q/Q Activity
+44 / −71 / ↑131 / ↓61

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
ABVX11.3% · +30%PTGX5.5% · -3%ROIV5.3% · -4%SPY4.5% · +70%IMVT4.2% · -13%ZLAB3.0% · +136%AGIO2.2% · +816%CRNX2.1% · +7%BOXX1.9% · 0%CYTK1.8% · -28%SEPN1.5% · -14%AVR1.5% · -17%EDIT1.4% · newDNLI1.2% · -45%SYRE1.2% · -16%VIR1.2% · -10%PRAX1.2% · +4850%INSM1.1% · +546%CLDX1.1% · +45%VKTX1.1% · +152%TSHA1.0% · +2%MNPR0.9% · -18%OVID0.9% · +63%ELVN0.9% · +18%ENTA0.9% · +2518%NKTR0.8% · +51%INSP0.8% · -8%RVMD0.8% · -35%ESTA0.7% · -13%PRTA0.7% · -2%RYTM0.7% · -36%IKT0.7% · +12%QURE0.7% · +326%RLYB0.7% · +4411%REGN0.7% · +83%IVA0.6% · +66%STRO0.6% · -23%BBIO0.6% · 0%IONS0.6% · +4%BBIO0.6% · +87%SRPT0.6% · +179%CTMX0.6% · -1%VOR0.6% · newBIL0.6% · 0%EQ0.6% · +1%ANL0.6% · +763%CLYM0.5% · +38%HLXC0.5% · 0%ZURA0.5% · +179%OKUR0.5% · -8%MAZE0.5% · +577%XENE0.5% · -27%TEVA0.4% · +4%URGN0.4% · -36%FTH0.4% · newAMLX0.4% · -51%DBVT0.4% · -48%SVRA0.4% · -4%PCVX0.4% · -44%CGON0.4% · -36%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

3 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 41.9%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 31, 2026.

Assets Under Management
$1.68B
Discretionary
$1.68B
Employees
11
Accounts
8
Address
3503 WILD CHERRY DRIVE
BUILDING 9
AUSTIN, TX 78738
Phone
(512) 254-3790
Website
Name Title / Status Ownership Type
ADAR1 CAPITAL MANAGEMENT GP, LLC ControlGENERAL PARTNER
since Nov 2018
Less than 5%Domestic Entity
GRAHAM, STUART, KNOX ControlCOO
since Dec 2025
Less than 5%Individual
SCHNEEBERGER, DANIEL, PAWEL ControlMANAGING PARTNER
since Nov 2018
75% or moreIndividual
SCIPIONE, STEPHEN, THOMAS ControlHEAD OF OPERATIONS, CHIEF COMPLIANCE OFFICER
since Jan 2021
Less than 5%Individual
SCHNEEBERGER, DANIEL, PAWEL Control
Indirect owner via ADAR1 CAPITAL MANAGEMENT GP, LLC
MANAGING MEMBER
since Nov 2018
75% or moreIndividual
Ownership & leadership changes · 1 filing with changes since Mar 28, 2024

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 31, 2026 filing
  • AddedGRAHAM, STUART, KNOX · COO · Less than 5% · control person
Mar 28, 2024 filing (earliest on record)
  • ListedADAR1 CAPITAL MANAGEMENT GP, LLC · GENERAL PARTNER · Less than 5% · control person
  • ListedSCHNEEBERGER, DANIEL, PAWEL · MANAGING PARTNER · 75% or more · control person
  • ListedSCHNEEBERGER, DANIEL, PAWEL · MANAGING MEMBER · 75% or more · indirect via ADAR1 CAPITAL MANAGEMENT GP, LLC · control person
  • ListedSCIPIONE, STEPHEN, THOMAS · HEAD OF OPERATIONS, CHIEF COMPLIANCE OFFICER · Less than 5% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

ADAR1 Capital Management, LLC Holdings (2026-06-30)

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 $240.5M 11.01% 1,804,703 SH
2 PROTAGONIST THERAPEUTICS INC PTGX 74366E102 $117.8M 5.39% 960,863 SH
3 ROIVANT SCIENCES LTD ROIV G76279101 $111.7M 5.11% 3,157,008 SH
4 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $96.4M 4.41% 129,087 SH
5 IMMUNOVANT INC IMVT 45258J102 $89.8M 4.11% 2,330,716 SH
6 ZAI LAB LTD ZLAB 98887Q104 $64.0M 2.93% 3,369,034 SH
7 AGIOS PHARMACEUTICALS INC AGIO 00847X104 $47.8M 2.19% 1,288,053 SH
8 CRINETICS PHARMACEUTICALS IN CRNX 22663K107 $45.7M 2.09% 1,222,080 SH
9 EA SERIES TRUST BOXX 02072L565 $39.5M 1.81% 337,125 SH
10 CYTOKINETICS INC CYTK 23282W605 $39.0M 1.79% 457,907 SH
11 SEPTERNA INC SEPN 81734D104 $31.5M 1.44% 940,747 SH
12 ANTERIS TECHNOLOGIES GLOBAL AVR 03675P102 $31.0M 1.42% 3,145,096 SH
13 EDITAS MEDICINE INC EDIT 28106W103 $28.8M 1.32% 8,889,000 SH
14 DENALI THERAPEUTICS INC DNLI 24823R105 $26.5M 1.21% 1,029,080 SH
15 SPYRE THERAPEUTICS INC SYRE 00773J202 $25.2M 1.15% 283,982 SH
16 VIR BIOTECHNOLOGY INC VIR 92764N102 $25.0M 1.15% 2,456,677 SH
17 PRAXIS PRECISION MEDICINES I PRAX 74006W207 $24.9M 1.14% 74,253 SH
18 INSMED INC INSM 457669307 $24.4M 1.12% 228,520 SH
19 CELLDEX THERAPEUTICS INC NEW CLDX 15117B202 $23.1M 1.05% 619,542 SH
20 VIKING THERAPEUTICS INC VKTX 92686J106 $22.4M 1.02% 574,038 SH
21 TAYSHA GENE THERAPIES INC TSHA 877619106 $20.7M 0.95% 3,040,466 SH
22 MONOPAR THERAPEUTICS INC MNPR 61023L207 $20.1M 0.92% 217,595 SH
23 OVID THERAPEUTICS INC OVID 690469101 $20.0M 0.91% 7,417,479 SH
24 ENLIVEN THERAPEUTICS INC ELVN 29337E102 $19.7M 0.90% 387,718 SH
25 ENANTA PHARMACEUTICALS INC ENTA 29251M106 $19.6M 0.90% 1,344,510 SH
26 ISHARES TR Put IWM 464287655 $18.8M 0.86% 62,500 SH
27 STATE STR SPDR S&P 500 ETF T Put SPY 78462F103 $18.7M 0.85% 25,000 SH
28 NEKTAR THERAPEUTICS NKTR 640268306 $17.0M 0.78% 244,184 SH
29 INSPIRE MED SYS INC INSP 457730109 $16.7M 0.76% 374,617 SH
30 REVOLUTION MEDICINES INC RVMD 76155X100 $16.4M 0.75% 87,509 SH
31 ESTABLISHMENT LABS HLDGS INC ESTA G31249108 $15.9M 0.73% 185,619 SH
32 PROTHENA CORP PLC PRTA G72800108 $15.2M 0.70% 1,554,535 SH
33 RHYTHM PHARMACEUTICALS INC RYTM 76243J105 $15.1M 0.69% 136,158 SH
34 INHIBIKASE THERAPEUTICS INC IKT 45719W205 $15.0M 0.69% 7,387,205 SH
35 UNIQURE NV QURE N90064101 $15.0M 0.68% 324,672 SH
36 RALLYBIO CORP RLYB 75120L209 $14.8M 0.68% 926,352 SH
37 REGENERON PHARMACEUTICALS REGN 75886F107 $13.8M 0.63% 22,208 SH
38 INVENTIVA SA IVA 46124U107 $13.6M 0.62% 3,606,656 SH
39 SUTRO BIOPHARMA INC STRO 869367201 $13.4M 0.61% 404,014 SH
40 IONIS PHARMACEUTICALS INC IONS 462222100 $13.2M 0.60% 166,286 SH
41 BRIDGEBIO PHARMA INC BBIO 10806X102 $13.2M 0.60% 176,689 SH
42 SAREPTA THERAPEUTICS INC SRPT 803607100 $13.1M 0.60% 730,649 SH
43 CYTOMX THERAPEUTICS INC. CTMX 23284F105 $12.6M 0.58% 3,365,118 SH
44 VOR BIOPHARMA INC VOR 929033207 $12.5M 0.57% 680,626 SH
45 SPDR SERIES TRUST BIL 78468R663 $12.4M 0.57% 135,585 SH
46 EQUILLIUM INC EQ 29446K106 $12.0M 0.55% 3,758,569 SH
47 ADLAI NORTYE LTD ANL 00704R109 $11.7M 0.54% 1,017,805 SH
48 CLIMB BIO INC CLYM 28658R106 $10.7M 0.49% 822,649 SH
49 SPDR SERIES TRUST Put XBI 78464A870 $10.7M 0.49% 67,400 SH
50 HELIX ACQUISITION CORP III HLXC G4444S107 $10.6M 0.49% 1,000,000 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $2.19B 277 0001940272-26-000015
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
Filer Information
Address
3503 WILD CHERRY DRIVE
BUILDING 9
AUSTIN, TX 78738
Phone
(512) 254-3790
Filing Manager
ADAR1 Capital Management, LLC
AUSTIN, TX
Signatory
Stephen Scipione
Chief Compliance Officer