Adar1 Capital Management, LLC Top Holdings and 13F Report (2025)

About Adar1 Capital Management, LLC

Investment Activity

Adar1 Capital Management, LLC has $538.67 million in total holdings as of March 31, 2025.
Adar1 Capital Management, LLC owns shares of 198 different stocks, but just 42 companies or ETFs make up 80% of its holdings.
Approximately 31.53% of the portfolio was purchased this quarter.
About 20.86% of the portfolio was sold this quarter.
This quarter, Adar1 Capital Management, LLC has purchased 206 new stocks and bought additional shares in 70 stocks.
Adar1 Capital Management, LLC sold shares of 40 stocks and completely divested from 55 stocks this quarter.

Largest Holdings

Protagonist Therapeutics: $45,442,393
Alpha Architect 1-3 Month Box ETF: $37,586,066
Roivant Sciences: $35,147,546
Zai Lab: $34,002,608
Immunovant: $16,557,920

Largest New Holdings this Quarter

85205L107 - SpringWorks Therapeutics: $9,831,193 Holding
464287457 - iShares 1-3 Year Treasury Bond ETF: $8,549,070 Holding
46116X101 - Intra-Cellular Therapies: $6,337,964 Holding
66987V109 - Novartis: $5,574,000 Holding
81734D104 - SEPTERNA INC: $4,173,710 Holding

Largest Purchases this Quarter

Keros Therapeutics: 1,463,215 shares (about $14.91M)
Janux Therapeutics: 387,158 shares (about $10.45M)
SpringWorks Therapeutics: 222,778 shares (about $9.83M)
iShares 1-3 Year Treasury Bond ETF: 103,337 shares (about $8.55M)
Intra-Cellular Therapies: 48,044 shares (about $6.34M)

Largest Sales this Quarter

BridgeBio Pharma: 339,222 shares (about $11.73M)
Ascendis Pharma A/S: 70,000 shares (about $10.91M)
Protagonist Therapeutics: 212,664 shares (about $10.28M)
Mineralys Therapeutics: 578,116 shares (about $9.18M)
Zai Lab: 104,979 shares (about $3.79M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
PTGX Protagonist Therapeutics	$45,442,393	$10,284,431 ▼	-18.5%	939,669	8.4%	Medical
BOXX Alpha Architect 1-3 Month Box ETF	$37,586,066	$1,301,646 ▲	3.6%	337,125	7.0%	ETF
ROIV Roivant Sciences	$35,147,546	$255,176 ▼	-0.7%	3,483,404	6.5%	Medical
ZLAB Zai Lab	$34,002,608	$3,793,941 ▼	-10.0%	940,858	6.3%	Medical
IMVT Immunovant	$16,557,920	$3,099,921 ▲	23.0%	968,866	3.1%	Medical
CYTK Cytokinetics	$15,703,399	$1,550,530 ▼	-9.0%	390,729	2.9%	Medical
KROS Keros Therapeutics	$15,147,038	$14,910,161 ▲	6,294.5%	1,486,461	2.8%	Medical
ABIVAX SA	$13,812,619	$4,353,913 ▲	46.0%	2,210,019	2.6%	SPONSORED ADS
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	$12,437,212	$348,482 ▲	2.9%	135,585	2.3%	ETF
BBIO BridgeBio Pharma	$11,741,182	$11,726,905 ▼	-50.0%	339,635	2.2%	Medical
JANX Janux Therapeutics	$11,304,009	$10,453,266 ▲	1,228.7%	418,667	2.1%	Medical
IKT Inhibikase Therapeutics	$11,217,410	$41,829 ▲	0.4%	5,122,105	2.1%	Medical
SWTX SpringWorks Therapeutics	$9,831,193	$9,831,193 ▲	New Holding	222,778	1.8%	Medical
SHY iShares 1-3 Year Treasury Bond ETF	$8,549,070	$8,549,070 ▲	New Holding	103,337	1.6%	Manufacturing
TEVA Teva Pharmaceutical Industries	$8,050,299	$5,795,966 ▲	257.1%	523,767	1.5%	Medical
SRPT Sarepta Therapeutics	$7,844,818	$5,291,890 ▲	207.3%	122,921	1.5%	Medical
PERCEPTIVE CAP SOLUTIONS COR	$7,725,000		0.0%	750,000	1.4%	CL A ORD SHS
CG ONCOLOGY INC	$7,374,772	$2,091,054 ▲	39.6%	301,134	1.4%	COM
RAPT RAPT Therapeutics	$7,284,337	$5,851,675 ▲	408.4%	5,970,768	1.4%	Medical
ABUS Arbutus Biopharma	$6,558,108	$1,131,849 ▲	20.9%	1,879,114	1.2%	Medical
ITCI Intra-Cellular Therapies	$6,337,964	$6,337,964 ▲	New Holding	48,044	1.2%	Medical
RVMD Revolution Medicines	$6,263,529	$252,329 ▲	4.2%	177,136	1.2%	Medical
ANTERIS TECHNOLOGIES GLOBAL	$6,108,149	$2,275,346 ▲	59.4%	1,678,063	1.1%	COM
AA MISSION ACQUISITION CORP	$6,032,284	$189,409 ▲	3.2%	578,359	1.1%	ORD SHS CL A
SAGE Sage Therapeutics	$5,902,835	$5,750,195 ▲	3,767.2%	742,495	1.1%	Medical
ETNB 89bio	$5,846,679	$2,101,626 ▲	56.1%	804,220	1.1%	Medical
NVS Novartis	$5,574,000	$5,574,000 ▲	New Holding	50,000	1.0%	Medical
COHERUS BIOSCIENCES INC	$5,484,375		0.0%	5,625,000	1.0%	NOTE 1.500% 4/1
OAKTREE ACQUISITION CORP III	$5,392,072	$172,072 ▲	3.3%	516,482	1.0%	UNIT 10/04/2029
HELIX ACQUISITION CORP II	$5,307,938	$741,178 ▲	16.2%	469,729	1.0%	CL A ORD SHS
AMLX Amylyx Pharmaceuticals	$5,209,418	$5,174,018 ▲	14,615.9%	1,471,587	1.0%	Medical
SRRK Scholar Rock	$5,050,090	$4,423,004 ▲	705.3%	157,079	0.9%	Medical
SLNO Soleno Therapeutics	$4,917,904	$2,286,400 ▲	86.9%	68,830	0.9%	Medical
XENE Xenon Pharmaceuticals	$4,279,235	$2,583,383 ▲	152.3%	127,548	0.8%	Medical
XNCR Xencor	$4,236,337	$1,740,119 ▲	69.7%	398,152	0.8%	Medical
MLYS Mineralys Therapeutics	$4,183,189	$9,180,482 ▼	-68.7%	263,425	0.8%	Medical
SEPTERNA INC	$4,173,710	$4,173,710 ▲	New Holding	720,848	0.8%	COM
BRIDGEBIO PHARMA INC	$4,034,250		0.0%	4,500,000	0.7%	NOTE 2.250% 2/0
APOGEE THERAPEUTICS INC	$3,917,308	$2,375,311 ▲	154.0%	104,853	0.7%	COM
SVRA Savara	$3,768,006	$1,029,950 ▲	37.6%	1,360,291	0.7%	Medical
MONOPAR THERAPEUTICS INC	$3,669,181	$1,065,466 ▼	-22.5%	100,774	0.7%	COM NEW
AVTE Aerovate Therapeutics	$3,667,697	$1,338,377 ▲	57.5%	1,461,234	0.7%	Medical
BIOAGE LABS INC	$3,651,336	$3,188,717 ▲	689.3%	971,100	0.7%	COM
ZURA Zura Bio	$3,613,527	$933,873 ▲	34.9%	2,801,184	0.7%	Medical
ATXS Astria Therapeutics	$3,426,625	$2,940,770 ▲	605.3%	641,690	0.6%	Medical
RZLT Rezolute	$3,236,536	$705,167 ▼	-17.9%	1,116,047	0.6%	Medical
CNTA Centessa Pharmaceuticals	$3,108,467	$893,559 ▲	40.3%	216,166	0.6%	Medical
AKRO Akero Therapeutics	$2,879,869	$1,349,441 ▲	88.2%	71,143	0.5%	Medical
MRUS Merus	$2,818,346	$610,305 ▼	-17.8%	66,960	0.5%	Medical
BRIDGEBIO PHARMA INC	$2,741,292	$2,741,292 ▲	New Holding	2,666,627	0.5%	NOTE 1.750% 3/0
PTCT PTC Therapeutics	$2,549,172	$101,920 ▲	4.2%	50,023	0.5%	Medical
RGNX REGENXBIO	$2,505,017	$1,161,325 ▲	86.4%	350,352	0.5%	Medical
ARDX Ardelyx	$2,409,548	$2,257,166 ▲	1,481.3%	490,743	0.4%	Medical
BRIDGEBIO PHARMA INC	$2,281,520		0.0%	2,000,000	0.4%	NOTE 2.500% 3/1
DVAX Dynavax Technologies	$2,204,900	$2,204,900 ▲	New Holding	170,000	0.4%	Medical
ARVN Arvinas	$2,199,745	$2,199,745 ▲	New Holding	313,354	0.4%	Medical
A SPAC III ACQUISITION CORP	$2,162,900	$2,162,900 ▲	New Holding	215,000	0.4%	ORD SHS CL A
RYTM Rhythm Pharmaceuticals	$1,954,063	$315,118 ▲	19.2%	36,890	0.4%	Medical
SMMT Summit Therapeutics	$1,929,000	$1,929,000 ▲	New Holding	100,000	0.4%	Medical
DCTH Delcath Systems	$1,901,671		0.0%	149,385	0.4%	Medical
CRNX Crinetics Pharmaceuticals	$1,781,812		0.0%	53,125	0.3%	Medical
KALA KALA BIO	$1,713,012	$450,275 ▲	35.7%	298,955	0.3%	Medical
VIR Vir Biotechnology	$1,620,000	$1,204,846 ▲	290.2%	250,000	0.3%	Medical
RCKT Rocket Pharmaceuticals	$1,612,806	$202,768 ▲	14.4%	241,800	0.3%	Medical
TSHA Taysha Gene Therapies	$1,482,170	$1,235,157 ▲	500.0%	1,066,309	0.3%	Medical
VKTX Viking Therapeutics	$1,434,824	$1,210,229 ▲	538.8%	59,413	0.3%	Medical
FULC Fulcrum Therapeutics	$1,412,732	$847,538 ▲	150.0%	490,532	0.3%	Medical
CARGO THERAPEUTICS INC	$1,389,966	$1,389,966 ▲	New Holding	341,515	0.3%	COM
ORUKA THERAPEUTICS INC	$1,362,323	$1,362,323 ▲	New Holding	132,780	0.3%	COM
VRNA Verona Pharma	$1,269,800	$577,759 ▼	-31.3%	20,000	0.2%	Medical
CKPT Checkpoint Therapeutics	$1,235,432	$1,235,432 ▲	New Holding	305,800	0.2%	Medical
ALDX Aldeyra Therapeutics	$1,216,579	$2,509,190 ▼	-67.3%	211,579	0.2%	Medical
KORRO BIO INC	$1,196,328	$186,931 ▲	18.5%	68,715	0.2%	COM
CONTINEUM THERAPEUTICS INC	$1,177,980	$603,987 ▲	105.2%	168,765	0.2%	CL A
TECTONIC THERAPEUTIC INC	$1,108,699	$68,980 ▲	6.6%	62,603	0.2%	COM
VRDN Viridian Therapeutics	$1,064,920	$714,440 ▲	203.8%	79,000	0.2%	Medical
VTGN Vistagen Therapeutics	$1,051,912	$748,260 ▲	246.4%	420,765	0.2%	Medical
PFE Pfizer	$1,040,207	$152,040 ▲	17.1%	41,050	0.2%	Medical
AACT Ares Acquisition Co. II	$1,008,696	$540,775 ▼	-34.9%	90,466	0.2%	Financial Services
SGRY Surgery Partners	$950,000	$950,000 ▲	New Holding	40,000	0.2%	Medical
KINIKSA PHARMACEUTICALS INTL	$919,761	$2,776,118 ▼	-75.1%	41,412	0.2%	ORD SHS CL A
ACLX Arcellx	$915,907	$656,000 ▲	252.4%	13,962	0.2%	Medical
REGN Regeneron Pharmaceuticals	$863,187		0.0%	1,361	0.2%	Medical
KEEN VISION ACQUISITION CORP	$841,500		0.0%	75,000	0.2%	UNIT 99/99/9999
AGIO Agios Pharmaceuticals	$817,470	$817,470 ▲	New Holding	27,900	0.2%	Medical
GRACE THERAPEUTICS INC	$783,207	$980,680 ▼	-55.6%	343,512	0.1%	COM
KEZAR LIFE SCIENCES INC	$719,332		0.0%	147,404	0.1%	COM NEW
ARWR Arrowhead Pharmaceuticals	$717,262	$552,916 ▲	336.4%	56,300	0.1%	Medical
GPCR Structure Therapeutics	$616,565	$5,193 ▲	0.8%	35,619	0.1%	Medical
BIIB Biogen	$615,780	$199,102 ▲	47.8%	4,500	0.1%	Medical
ITOS iTeos Therapeutics	$603,543	$182,103 ▼	-23.2%	101,096	0.1%	Medical
NTRA Natera	$600,992	$600,992 ▲	New Holding	4,250	0.1%	Medical
ZYME Zymeworks	$595,500	$595,500 ▲	New Holding	50,000	0.1%	Medical
LEXEO THERAPEUTICS INC	$591,455	$3,272 ▲	0.6%	170,448	0.1%	COM
KIORA PHARMACEUTICALS INC	$585,942	$16,724 ▼	-2.8%	194,665	0.1%	COM
SPRO Spero Therapeutics	$576,919		0.0%	801,277	0.1%	Medical
BHVN Biohaven	$544,290	$544,290 ▲	New Holding	22,641	0.1%	Medical
TARA Protara Therapeutics	$522,659		0.0%	122,690	0.1%	Medical
USFR WisdomTree Floating Rate Treasury Fund	$503,300		0.0%	10,000	0.1%	Finance
AGRICULTURE & NAT SOL ACQ CO	$502,062	$355,248 ▼	-41.4%	47,062	0.1%	SHS CL A

Showing largest 100 holdings. View all holdings.

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Adar1 Capital Management, LLC Top Holdings and 13F Report (2025)

About Adar1 Capital Management, LLC

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

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Adar1 Capital Management, LLC Top Holdings and 13F Report (2025)

About Adar1 Capital Management, LLC

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofAdar1 Capital Management, LLC

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools