ADAR1 Capital Management, LLC

Institutional manager·CIK 0001940272
Latest Qtr return
+130.3%
SPY latest qtr
+17.6%
Alpha
+112.7ptsvs SPY
Invested
$1.6B
Holdings
283
Trades YTD
35

Performance · Fund vs SPY

Cumulative return · quarterly snapshots
-40%+0%+105%ADAR1 +102.9%SPY +72.2%Q1 '25Q2 '25Q3 '25Q4 '25

Coverage 94%. 4 quarters of 2025 measured against SPY adj-close benchmark.

EDITORIAL BRIEF · refreshed Jul 2, 2026

Why follow ADAR1 Capital Management, LLC right now?

ADAR1 Capital Management's Q1 2026 13F-HR reports $1.6B across 283 positions, with biotech names dominating the top of the book. ABIVAX leads at 9.5% ($152M implied), followed by Protagonist Therapeutics at 6.4% and Roivant Sciences at 5.6%. SPY and BOXX together account for roughly 5.4%, providing modest index and fixed-income ETF exposure within an otherwise concentrated single-stock portfolio.

The largest share-count increases quarter-over-quarter include Denali Therapeutics (+3,491%), Pliant Therapeutics (+3,402%), and Opus Genetics (+4,523%), all newly or near-newly initiated. Reported quarterly returns of +130.3% against SPY's +17.6% in Q1 2026 follow +119.5% in Q4 2025, though Q2 2025 recorded -19.1%. Past performance is not indicative of future results.

Generated from public SEC filings. Not investment advice.…

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Top holdings · current snapshot

Source: 13F-HR
01
$ABVX
ABIVAX SA
Q4 2025: Increased +5.8% (1.32M → 1.39M shares)
9.5%
-2.8%
~$111.35 Mar 2026
02
$PTGX
PROTAGONIST THERAPEUTICS INC
Q4 2025: Sold 5.2% (1.05M → 994.1k shares)
6.4%
-1.4%
~$105.40 Mar 2026
03
$ROIV
ROIVANT SCIENCES LTD
Q4 2025: Sold 4.2% (3.43M → 3.29M shares)
5.6%
+0.0%
~$27.70 Mar 2026
04
$IMVT
IMMUNOVANT INC
Q4 2025: Increased +8.0% (2.48M → 2.68M shares)
4.1%
-0.8%
~$24.84 Mar 2026
05
$SPY
STATE STR SPDR S&P 500 ETF T
Q4 2025: Increased +38.9% (54.7k → 75.9k shares)
3.0%
+16.2%
~$650.34 Mar 2026
06
$TERN
TERNS PHARMACEUTICALS INC
Q4 2025: Increased +68.9% (541.6k → 914.7k shares)
2.9%
+0.2%
~$52.72 Mar 2026
07
$CYTK
CYTOKINETICS INC
Q4 2025: Increased +17.1% (540.2k → 632.6k shares)
2.5%
-2.0%
~$65.91 Mar 2026
08
$CRNX
CRINETICS PHARMACEUTICALS IN
Q4 2025: Increased +268.3% (309.4k → 1.14M shares)
2.5%
-0.1%
~$36.32 Mar 2026
09
$BOXX
EA SERIES TRUST
Held since at least Q1 2024
2.4%
+1.1%
~$116.29 Mar 2026
10
$DNLI
DENALI THERAPEUTICS INC
Q4 2025: Increased +3490.9% (52.1k → 1.87M shares)
2.2%
-1.4%
~$19.20 Mar 2026
See all 283 holdings · Pro →

Recent trades · Last 90 days

ADAR1 Capital Management, LLC
Insider · Form 4
BOUGHT
$RLYBRallybio Corp
$3K
FORM 4
ADAR1 Capital Management, LLC
Insider · Form 4
BOUGHT
$RLYBRallybio Corp
$140K
FORM 4
ADAR1 Capital Management, LLC
Insider · Form 4
BOUGHT
$INMInMed Pharmaceuticals Inc.
$298K
FORM 4
ADAR1 Capital Management, LLC
Insider · Form 4
BOUGHT
$INMInMed Pharmaceuticals Inc.
$312K
FORM 4
ADAR1 Capital Management, LLC
Insider · Form 4
BOUGHT
$INMInMed Pharmaceuticals Inc.
$109K
FORM 4
See full trade history →

Convergence · ADAR1 Capital Management, LLC

Pattern cards reflect public SEC EDGAR and Congressional filing data only. Detection uses filing dates; trade execution dates may differ. Past convergence patterns do not predict future returns. Nothing here is investment advice.

Source data: SEC EDGAR · 13F-HR filings · Performance through 2026-03-31 · Last refreshed 11:09 UTC.