Latest ADAR1 Capital Management, LLC Stock Portfolio

ADAR1 Capital Management, LLC Performance:

2025 Q4: 20.02%YTD: 63.95%2024: -1.37%

Performance for 2025 Q4 is 20.02%, and YTD is 63.95%, and 2024 is -1.37%.

About ADAR1 Capital Management, LLC and 13F Hedge Fund Stock Holdings

On 2026-02-18, the fund reported it's updated stock portfolio. In the 13F Holdings report, ADAR1 Capital Management, LLC reported an equity portfolio of $1.4 Billions as of 31 Dec, 2025.

The top stock holdings of ADAR1 Capital Management, LLC are , PTGX, ROIV. The fund has invested 13.1% of it's portfolio in ABIVAX SA and 6.7% of portfolio in PROTAGONIST THERAPEUTICS INC.

The fund managers got completely rid off 89BIO INC (ETNB), METSERA INC and VERONA PHARMA PLC (VRNA) stocks. They significantly reduced their stock positions in KEROS THERAPEUTICS INC (KROS), REZOLUTE INC (RZLT) and QUINCE THERAPEUTICS INC (QNCX). ADAR1 Capital Management, LLC opened new stock positions in INVENTIVA SA (IVA), TELEFLEX INCORPORATED (TFX) and CRESCENT BIOPHARMA INC.. The fund showed a lot of confidence in some stocks as they added substantially to OVID THERAPEUTICS INC (OVID), TERNS PHARMACEUTICALS INC (TERN) and PROTARA THERAPEUTICS INC (TARA).

ADAR1 Capital Management, LLC Annual Return Estimates Vs S&P 500

Our best estimate is that ADAR1 Capital Management, LLC made a return of 20.02% in the last quarter. In trailing 12 months, it's portfolio return was 63.95%.

Performance
S&P 500

New Buys

Ticker	$ Bought
inventiva sa	12,600,800
teleflex incorporated	9,839,720
crescent biopharma inc.	7,187,160
belite bio inc	6,372,650
danaher corporation	5,860,350
spruce biosciences inc	5,052,380
palisade bio inc	4,711,390
corvus pharmaceuticals inc	3,587,240

New stocks bought by ADAR1 Capital Management, LLC

Additions

Ticker	% Inc.
ovid therapeutics inc	33,256
terns pharmaceuticals inc	5,316
protara therapeutics inc	3,127
corbus pharmaceuticals hldgs	2,711
ibio inc	1,401
climb bio inc	972
avidity biosciences inc	918
brighthouse finl inc	855

Additions to existing portfolio by ADAR1 Capital Management, LLC

Reductions

Ticker	% Reduced
keros therapeutics inc	-99.65
rezolute inc	-95.26
quince therapeutics inc	-94.46
bioage labs inc	-92.79
sarepta therapeutics inc	-91.75
viking therapeutics inc	-84.94
united therapeutics corp del	-83.04
madrigal pharmaceuticals inc	-81.72

ADAR1 Capital Management, LLC reduced stake in above stock

Sold off

Ticker	$ Sold
89bio inc	-31,063,300
intelligent bio solutions in	-434,962
a spac iii acquisition corp	-2,223,100
inflarx nv	-213,702
metsera inc	-7,981,420
moonlake immunotherapeutics	-1,086,220
wave life sciences ltd	-871,570
cassava sciences inc	-235,710

ADAR1 Capital Management, LLC got rid off the above stocks

Sector Distribution

ADAR1 Capital Management, LLC has about 64.2% of it's holdings in Healthcare sector.

Sector	%
Healthcare	64.2
Others	33.9

Market Cap. Distribution

ADAR1 Capital Management, LLC has about 16.8% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	33.9
MID-CAP	24.8
SMALL-CAP	18.3
LARGE-CAP	16.8
MICRO-CAP	5.7

Stocks belong to which Index?

About 41.2% of the stocks held by ADAR1 Capital Management, LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	58.8
RUSSELL 2000	37.9
S&P 500	3.3

Top 5 Winners (%)		%
VTYX	ventyx biosciences inc	190.3 %
GLUE	monte rosa therapeutics inc	111.6 %
REPL	replimune group inc	103.6 %
AGLE	spyre therapeutics inc	95.5 %
ADGI	invivyd inc	95.2 %

Top 5 Winners ($)		$
	abivax sa	66.6 M
ROIV	roivant sciences ltd	22.3 M
IMVT	immunovant inc	22.0 M
PTGX	protagonist therapeutics inc	21.3 M
KROS	keros therapeutics inc	12.3 M

Top 5 Losers (%)		%
VSTA	vistagen therapeutics inc	-72.0 %
KALA	kala bio inc	-63.5 %
QURE	uniqure nv	-53.0 %
ZLAB	zai lab ltd	-43.9 %
RZLT	rezolute inc	-39.2 %

Top 5 Losers ($)		$
ZLAB	zai lab ltd	-17.2 M
QURE	uniqure nv	-6.3 M
JANX	janux therapeutics inc	-3.2 M
RZLT	rezolute inc	-3.0 M
MNPR	monopar therapeutics inc	-3.0 M

ADAR1 Capital Management, LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of ADAR1 Capital Management, LLC

ADAR1 Capital Management, LLC has 249 stocks in it's portfolio. About 45.2% of the portfolio is in top 10 stocks. ZLAB proved to be the most loss making stock for the portfolio. was the most profitable stock for ADAR1 Capital Management, LLC last quarter.

Last Reported on: 18 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AADI	whitehawk therapeutics inc	0.01	77,593	187,775	new

ABOS	acumen pharmaceuticals inc	0.14	891,183	1,880,400	unchanged	0.00

ABUS	arbutus biopharma corp	1.91	5,415,110	26,046,700	added	86.52

ACET	adicet bio inc	0.08	128,646	1,083,200	new

ACHV	achieve life sciences inc	0.02	47,800	237,566	unchanged	0.00

ACLX	arcellx inc	0.15	31,484	2,052,760	unchanged	0.00

ACRS	aclaris therapeutics inc	0.14	613,986	1,848,100	added	64.31

ADGI	invivyd inc	0.71	3,899,400	9,631,510	reduced	-47.1

AGIO	agios pharmaceuticals inc	0.38	188,000	5,117,360	added	408

AGLE	spyre therapeutics inc	0.08	34,051	1,115,510	unchanged	0.00

AKRO	akero therapeutics inc	0.00	0.00	0.00	sold off	-100

ALEC	alector inc	0.13	1,108,000	1,728,480	new

ALKS	alkermes plc	0.13	63,700	1,782,330	added	13.35

AMLX	amylyx pharmaceuticals inc	0.79	890,356	10,755,500	added	2.79

ANNX	annexon inc	0.02	48,000	240,960	new

APLS	apellis pharmaceuticals inc	0.04	20,000	502,400	unchanged	0.00

ARE	alexandria real estate eq in	0.06	16,300	797,722	new

ARVN	arvinas inc	0.05	58,091	688,959	reduced	-29.66

ARWR	arrowhead pharmaceuticals in	0.28	58,200	3,863,900	added	16.87

ASMB	assembly biosciences inc	0.05	19,747	671,595	added	4.22