ADAR1 Capital Management, LLC
Filing Date
Global Rank
#1,349
/ 8,603
▲ 229
· as of Mar 2026
Top Industry
Biotechnology
88.5%
3Y Alpha vs SPY
+28.3%
Period ended 3 months ago
Filed May 18, 2026 · 52d
10 quarters · since Dec 2023
Clone Performance
Feb 2024–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+112.5%
SPY
+54.1%
Annualised alpha
+17.2%
Max drawdown
−44.4%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
283 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
9.9%
−3.9 pts
Top 5
29.8%
−8.2 pts
Top 10
42.4%
−7.5 pts
HHI
274
Diversified−130
Portfolio Trend
10 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 94.9% | $1,532,194,265 |
| Unclassified | 3.1% | $49,386,819 |
| Financial Services | 1.6% | $26,334,467 |
| Industrials | 0.1% | $1,392,592 |
| Basic Materials | 0.1% | $1,296,600 |
| Technology | 0.1% | $1,180,230 |
| Communication Services | 0.1% | $1,006,302 |
| Real Estate | 0.1% | $905,190 |
| Consumer Cyclical | 0.0% | $744,595 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| AVR | Anteris Technologies Global Corp. | +2,550,355 | 3,789,132 | $21,029,682 | |
| PLRX | Pliant Therapeutics, Inc. | +2,511,307 | 2,585,126 | $3,257,258 | |
| DNLI | Denali Therapeutics Inc. | +1,819,339 | 1,871,455 | $35,931,936 | |
| IRD | Opus Genetics, Inc. | +1,809,004 | 1,849,004 | $8,412,968 | |
| PEPG | PepGen Inc. | +1,570,796 | 1,607,638 | $2,845,519 | |
| OKUR | OnKure Therapeutics, Inc. | +1,420,783 | 2,434,941 | $10,080,655 | |
| ABOS | Acumen Pharmaceuticals, Inc. | +1,265,151 | 2,156,334 | $5,088,948 | |
| SPRY | ARS Pharmaceuticals, Inc. | +991,967 | 1,361,536 | $10,933,134 | |
| CRNX | Crinetics Pharmaceuticals, Inc. | +829,963 | 1,139,331 | $41,380,501 | |
| VYNE | VYNE Therapeutics Inc. | +810,108 | 1,063,899 | $636,211 | |
| CATX | Perspective Therapeutics, Inc. | +654,142 | 749,335 | $3,124,726 | |
| TERN | Terns Pharmaceuticals, Inc. | +573,084 | 1,114,699 | $58,766,931 | |
| TSHA | Taysha Gene Therapies, Inc. | +483,620 | 2,979,429 | $13,318,047 | |
| STRO | Sutro Biopharma, Inc. | +457,364 | 524,441 | $13,063,825 | |
| RLMD | Relmada Therapeutics, Inc. | +421,052 | 451,918 | $3,145,349 | |
| REPL | Replimune Group, Inc. | +416,665 | 1,682,987 | $12,874,850 | |
| INSP | Inspire Medical Systems, Inc. | +390,197 | 405,197 | $20,900,061 | |
| SRRK | Scholar Rock Holding Corp | +337,684 | 407,273 | $20,021,540 | |
| LONA | LeonaBio, Inc. | +333,780 | 727,481 | $7,478,504 | |
| SYRE | Spyre Therapeutics, Inc. | +304,272 | 338,323 | $17,065,012 | |
| ELVN | Enliven Therapeutics, Inc. | +299,540 | 329,540 | $12,917,968 | |
| KPTI | Karyopharm Therapeutics Inc. | +291,936 | 341,936 | $1,904,583 | |
| PALI | Palisade Bio, Inc. | +260,000 | 2,264,845 | $3,963,478 | |
| OVID | Ovid Therapeutics Inc. | +259,113 | 4,544,113 | $10,087,930 | |
| SNY | Sanofi | +253,465 | 316,939 | $15,270,121 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| ABUS | Arbutus Biopharma Corp | −2,281,934 | 3,133,175 | $14,099,287 | |
| EQ | Equillium, Inc. | −1,881,419 | 3,726,659 | $7,453,318 | |
| IKT | Inhibikase Therapeutics, Inc. | −1,457,377 | 6,606,572 | $11,099,040 | |
| FULC | Fulcrum Therapeutics, Inc. | −1,188,189 | 130,560 | $1,001,395 | |
| CTMX | CytomX Therapeutics, Inc. | −872,579 | 3,410,190 | $16,027,893 | |
| ELDN | Eledon Pharmaceuticals, Inc. | −847,391 | 974,421 | $3,001,216 | |
| CLYM | Climb Bio, Inc. | −834,813 | 597,662 | $4,093,984 | |
| CBIO | Crescent Biopharma, Inc. | −555,727 | 50,273 | $923,515 | |
| IVA | Inventiva S.A. | −535,448 | 2,174,398 | $12,067,908 | |
| ACRS | Aclaris Therapeutics, Inc. | −481,560 | 132,426 | $496,597 | |
| GOSS | Gossamer Bio, Inc. | −423,300 | 287,531 | $94,597 | |
| CRVS | Corvus Pharmaceuticals, Inc. | −377,974 | 87,901 | $1,285,991 | |
| AQST | Aquestive Therapeutics, Inc. | −244,000 | 10,000 | $41,500 | |
| CLDX | Celldex Therapeutics, Inc. | −218,951 | 427,816 | $13,570,323 | |
| HELP | Cybin Inc. | −207,112 | 31,278 | $150,134 | |
| TARA | Protara Therapeutics, Inc. | −196,287 | 940,512 | $4,900,067 | |
| ENGN | enGene Therapeutics Inc. | −170,000 | 133,686 | $910,401 | |
| ROIV | Roivant Sciences Ltd. | −143,056 | 3,285,906 | $91,019,596 | |
| GERN | Geron Corp | −136,176 | 200,000 | $298,000 | |
| LRMR | Larimar Therapeutics, Inc. | −132,944 | 52,745 | $237,352 | |
| MAZE | Maze Therapeutics, Inc. | −129,437 | 50,095 | $1,495,335 | |
| BBIO | BridgeBio Pharma, Inc. | −119,122 | 94,292 | $7,002,123 | |
| RGNX | REGENXBIO Inc. | −100,432 | 44,416 | $372,206 | |
| INO | Inovio Pharmaceuticals, Inc. | −90,400 | 1,470,108 | $2,557,987 | |
| TNGX | Tango Therapeutics, Inc. | −90,021 | 50,000 | $1,046,000 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| BEAM | Beam Therapeutics Inc. | 1,446,375 | $34,467,116 | |
| VIR | Vir Biotechnology, Inc. | 2,744,714 | $24,592,637 | |
| DBVT | DBV Technologies S.A. | 1,012,866 | $21,158,770 | |
| HLXC | Helix Acquisition Corp. III | 1,000,000 | $10,160,000 | |
| MLTX | MoonLake Immunotherapeutics | 477,137 | $8,893,833 | |
| MPLT | MapLight Therapeutics, Inc. | 374,909 | $7,621,899 | |
| DMRA | Damora Therapeutics, Inc. | 279,000 | $7,226,100 | |
| PRME | Prime Medicine, Inc. | 1,973,282 | $6,867,021 | |
| KRRO | Korro Bio, Inc. | 540,054 | $6,113,411 | |
| INSM | INSMED Inc | 35,392 | $5,787,299 | |
| LLY | ELI LILLY & Co | 5,060 | $4,654,036 | |
| DNTH | Dianthus Therapeutics, Inc. /DE/ | 55,000 | $4,615,600 | |
| ONC | BeOne Medicines Ltd. | 11,701 | $3,474,845 | |
| AVBP | ArriVent BioPharma, Inc. | 141,814 | $3,271,648 | |
| ATAI | AtaiBeckley Inc. | 913,242 | $3,232,876 | |
| CAPR | Capricor Therapeutics, Inc. | 90,593 | $2,754,027 | |
| CNTB | Connect Biopharma Holdings Ltd | 742,400 | $1,945,088 | |
| NVO | Novo Nordisk A S | 46,000 | $1,690,500 | |
| FOLD | AMICUS THERAPEUTICS, INC. | 105,000 | $1,518,300 | |
| UNH | Unitedhealth Group Inc | 5,501 | $1,488,515 | |
| SXT | Sensient Technologies Corp | 15,000 | $1,296,600 | |
| MSLE | Satellos Bioscience Inc. | 222,555 | $1,252,984 | |
| PMN | ProMIS Neurosciences Inc. | 95,350 | $1,210,945 | |
| LXRX | Lexicon Pharmaceuticals, Inc. | 750,000 | $1,170,000 | |
| SDGR | Schrodinger, Inc. | 101,500 | $1,153,040 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
16 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| BBOT | BridgeBio Oncology Therapeutics, Inc. | 226,248 | $2,832,624 | |
| GRCE | Grace Therapeutics, Inc. | 641,988 | $2,221,278 | |
| OLMA | Olema Pharmaceuticals, Inc. | 81,399 | $2,034,975 | |
| OMER | Omeros Corp | 100,000 | $1,718,000 | |
| UTHR | UNITED THERAPEUTICS Corp | 1,900 | $925,775 | |
| QNRX | Quoin Pharmaceuticals, Ltd. | 58,230 | $840,258 | |
| NGNE | Neurogene Inc. | 30,633 | $631,039 | |
| NVCR | NovoCure Ltd | 34,000 | $439,620 | |
| AUPH | Aurinia Pharmaceuticals Inc. | 22,000 | $350,900 | |
| IDXX | Idexx Laboratories Inc /De | 400 | $270,612 | |
| SPRO | Spero Therapeutics, Inc. | 113,839 | $265,244 | |
| OTLK | Outlook Therapeutics, Inc. | 100,000 | $158,000 | |
| ZONE | CleanCore Solutions, Inc. | 521,980 | $135,714 | |
| IVF | INVO Fertility, Inc. | 26,722 | $100,608 | |
| SABS | SAB Biotherapeutics, Inc. | 26,344 | $98,526 | |
| IOBTQ | IO Biotech, Inc. | 24,964 | $15,203 | |
| No positions match the current search. | ||||
283 positions ·
$1,614,441,060 total
· as of Mar 31, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Financial Services
Healthcare
Industrials
Real Estate
Technology
Showing 1–50
of 283 positions by value
· page 1 of 6
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| ABVX |
Abivax S.A.
Healthcare
|
Added | 1,438,019 | $160,123,415 | 9.92% | |
| PTGX |
Protagonist Therapeutics, Inc
Healthcare
|
Reduced | 994,119 | $104,780,142 | 6.49% | |
| ROIV |
Roivant Sciences Ltd.
Healthcare
|
Reduced | 3,285,906 | $91,019,596 | 5.64% | |
| IMVT |
Immunovant, Inc.
Healthcare
|
Added | 2,679,010 | $66,546,608 | 4.12% | |
| TERN |
Terns Pharmaceuticals, Inc.
Healthcare
|
Added | 1,114,699 | $58,766,931 | 3.64% | |
| SPY |
Spdr S&P 500 ETF Trust
|
Added | 75,940 | $49,386,819 | 3.06% | |
| CYTK |
Cytokinetics Inc
Healthcare
|
Added | 632,556 | $41,691,765 | 2.58% | |
| CRNX |
Crinetics Pharmaceuticals, Inc.
Healthcare
|
Added | 1,139,331 | $41,380,501 | 2.56% | |
| DNLI |
Denali Therapeutics Inc.
Healthcare
|
Added | 1,871,455 | $35,931,936 | 2.23% | |
| BEAM |
Beam Therapeutics Inc.
Healthcare
|
NEW | 1,446,375 | $34,467,116 | 2.13% | |
| ZLAB |
Zai Lab Ltd
Healthcare
|
Added | 1,425,367 | $26,811,153 | 1.66% | |
| SEPN |
Septerna, Inc.
Healthcare
|
Reduced | 1,089,818 | $26,188,326 | 1.62% | |
| VIR |
Vir Biotechnology, Inc.
Healthcare
|
NEW | 2,744,714 | $24,592,637 | 1.52% | |
| DBVT |
DBV Technologies S.A.
Healthcare
|
NEW | 1,012,866 | $21,158,770 | 1.31% | |
| AVR |
Anteris Technologies Global Corp.
Healthcare
|
Added | 3,789,132 | $21,029,682 | 1.30% | |
| INSP |
Inspire Medical Systems, Inc.
Healthcare
|
Added | 405,197 | $20,900,061 | 1.29% | |
| SRRK |
Scholar Rock Holding Corp
Healthcare
|
Added | 407,273 | $20,021,540 | 1.24% | |
| RYTM |
Rhythm Pharmaceuticals, Inc.
Healthcare
|
Added | 211,450 | $18,389,806 | 1.14% | |
| SYRE |
Spyre Therapeutics, Inc.
Healthcare
|
Added | 338,323 | $17,065,012 | 1.06% | |
| CTMX |
CytomX Therapeutics, Inc.
Healthcare
|
Reduced | 3,410,190 | $16,027,893 | 0.99% | |
| PRTA |
Prothena Corp Public Ltd Co
Healthcare
|
Added | 1,581,443 | $15,371,625 | 0.95% | |
| SNY |
Sanofi
Healthcare
|
Added | 316,939 | $15,270,121 | 0.95% | |
| PCVX |
Vaxcyte, Inc.
Healthcare
|
Reduced | 259,137 | $15,058,451 | 0.93% | |
| MNPR |
Monopar Therapeutics
Healthcare
|
Added | 264,278 | $14,479,791 | 0.90% | |
| ABUS |
Arbutus Biopharma Corp
Healthcare
|
Reduced | 3,133,175 | $14,099,287 | 0.87% | |
| AMLX |
Amylyx Pharmaceuticals, Inc.
Healthcare
|
Added | 1,000,604 | $13,908,395 | 0.86% | |
| CLDX |
Celldex Therapeutics, Inc.
Healthcare
|
Reduced | 427,816 | $13,570,323 | 0.84% | |
| TSHA |
Taysha Gene Therapies, Inc.
Healthcare
|
Added | 2,979,429 | $13,318,047 | 0.82% | |
| XENE |
Xenon Pharmaceuticals Inc.
Healthcare
|
Added | 228,899 | $13,310,476 | 0.82% | |
| STRO |
Sutro Biopharma, Inc.
Healthcare
|
Added | 524,441 | $13,063,825 | 0.81% | |
| RVMD |
Revolution Medicines, Inc.
Healthcare
|
Reduced | 133,893 | $13,021,094 | 0.81% | |
| ELVN |
Enliven Therapeutics, Inc.
Healthcare
|
Added | 329,540 | $12,917,968 | 0.80% | |
| REPL |
Replimune Group, Inc.
Healthcare
|
Added | 1,682,987 | $12,874,850 | 0.80% | |
| CGON |
CG Oncology, Inc.
Healthcare
|
Reduced | 185,699 | $12,568,108 | 0.78% | |
| ESTA |
Establishment Labs Holdings Inc.
Healthcare
|
Added | 213,473 | $12,120,996 | 0.75% | |
| IVA |
Inventiva S.A.
Healthcare
|
Reduced | 2,174,398 | $12,067,908 | 0.75% | |
| IONS |
Ionis Pharmaceuticals Inc
Healthcare
|
Added | 160,338 | $12,039,780 | 0.75% | |
| NKTR |
Nektar Therapeutics
Healthcare
|
Added | 161,252 | $11,602,081 | 0.72% | |
| IKT |
Inhibikase Therapeutics, Inc.
Healthcare
|
Reduced | 6,606,572 | $11,099,040 | 0.69% | |
| SPRY |
ARS Pharmaceuticals, Inc.
Healthcare
|
Added | 1,361,536 | $10,933,134 | 0.68% | |
| HLXC |
Helix Acquisition Corp. III
Financial Services
|
NEW | 1,000,000 | $10,160,000 | 0.63% | |
| OVID |
Ovid Therapeutics Inc.
Healthcare
|
Reduced | 4,544,113 | $10,087,930 | 0.62% | |
| OKUR |
OnKure Therapeutics, Inc.
Healthcare
|
Added | 2,434,941 | $10,080,655 | 0.62% | |
| REGN |
Regeneron Pharmaceuticals, Inc.
Healthcare
|
Added | 12,154 | $9,390,666 | 0.58% | |
| MLTX |
MoonLake Immunotherapeutics
Healthcare
|
NEW | 477,137 | $8,893,833 | 0.55% | |
| LXEO |
Lexeo Therapeutics, Inc.
Healthcare
|
Added | 1,467,350 | $8,422,589 | 0.52% | |
| IRD |
Opus Genetics, Inc.
Healthcare
|
Added | 1,849,004 | $8,412,968 | 0.52% | |
| TEVA |
Teva Pharmaceutical Industries Ltd
Healthcare
|
Added | 268,391 | $8,083,936 | 0.50% | |
| SVRA |
Savara Inc
Healthcare
|
Added | 1,464,535 | $7,996,361 | 0.50% | |
| MPLT |
MapLight Therapeutics, Inc.
Healthcare
|
NEW | 374,909 | $7,621,899 | 0.47% |