1y return+91.9%S&P 500 +20.9%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2023: $222 against $157 in the S&P 500.2
ADAR1 Capital Management, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| ABVXAbivax Sa | $240.5M | 11.4% | +29.5% |
| PTGXProtagonist Therapeutics Inc | $117.8M | 5.6% | −3.3% |
| Roivant Sciences LtdCUSIP G76279101 | $111.7M | 5.3% | −3.9% |
| SPYState Str Spdr S&p 500 Etf T | $96.4M | 4.6% | +70.0% |
| IMVTImmunovant Inc | $89.8M | 4.3% | −13.0% |
| ZLABZai Lab Ltd | $64.0M | 3.0% | +136.4% |
| AGIOAgios Pharmaceuticals Inc | $47.8M | 2.3% | +815.6% |
| Crinetics Pharmaceuticals InCUSIP 22663K107 | $45.7M | 2.2% | +7.3% |
| BOXXEa Series Trust | $39.5M | 1.9% | |
| CYTKCytokinetics Inc | $39.0M | 1.8% | −27.6% |
| SEPNSepterna Inc | $31.5M | 1.5% | −13.7% |
| AVRAnteris Technologies Global | $31.0M | 1.5% | −17.0% |
| EDITEditas Medicine Inc | $28.8M | 1.4% | New |
| DNLIDenali Therapeutics Inc | $26.5M | 1.3% | −45.0% |
| SYRESpyre Therapeutics Inc | $25.2M | 1.2% | −16.1% |
| VIRVir Biotechnology Inc | $25.0M | 1.2% | −10.5% |
| PRAXPraxis Precision Medicines I | $24.9M | 1.2% | +4850.2% |
| INSMInsmed Inc | $24.4M | 1.2% | +545.7% |
| CLDXCelldex Therapeutics Inc New | $23.1M | 1.1% | +44.8% |
| VKTXViking Therapeutics Inc | $22.4M | 1.1% | +152.1% |
| TSHATaysha Gene Therapies Inc | $20.7M | 1.0% | +2.0% |
| MNPRMonopar Therapeutics Inc | $20.1M | 1.0% | −17.7% |
| OVIDOvid Therapeutics Inc | $20.0M | 0.9% | +63.2% |
| ELVNEnliven Therapeutics Inc | $19.7M | 0.9% | +17.7% |
| ENTAEnanta Pharmaceuticals Inc | $19.6M | 0.9% | +2518.0% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| SEPNSepterna Inc | March 31, 2025 | +478.4% | $31.5M |
| SYRESpyre Therapeutics Inc | March 31, 2025 | +450.2% | $25.2M |
| PTGXProtagonist Therapeutics Inc | December 31, 2023 | +434.6% | $117.8M |
| MNPRMonopar Therapeutics Inc | December 31, 2024 | +320.9% | $20.1M |
| RVMDRevolution Medicines Inc | September 30, 2024 | +313.0% | $16.4M |
| TSHATaysha Gene Therapies Inc | December 31, 2023 | +284.7% | $20.7M |
| ELVNEnliven Therapeutics Inc | December 31, 2025 | +229.5% | $19.7M |
| Roivant Sciences LtdCUSIP G76279101 | December 31, 2023 | +215.1% | $111.7M |
| STROSutro Biopharma Inc | December 31, 2025 | +186.9% | $13.4M |
| NKTRNektar Therapeutics | June 30, 2025 | +170.2% | $17.0M |
Sold off last quarter
- Terns Pharmaceuticals IncCUSIP 880881107 was $48.2M
- BEAMBeam Therapeutics Inc was $34.5M
- SRRKScholar Rock Hldg Corp was $20.0M
- VRTXVertex Pharmaceuticals Inc was $6.7M
- VRDNViridian Therapeutics Inc was $6.0M
- Ascendis Pharma A/sCUSIP 04351P101 was $5.7M
- LLYEli Lilly & Co was $4.7M
- DNTHDianthus Therapeutics Inc was $4.6M
- BLTEBelite Bio Inc was $4.3M
- Arcellx IncCUSIP 03940C100 was $3.7M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +18.4% | +14.8% |
| March 31, 2026 | +1.5% | −4.6% |
| December 31, 2025 | +25.5% | +2.4% |
| September 30, 2025 | +27.4% | +7.8% |
| June 30, 2025 | +6.5% | +10.5% |
| March 31, 2025 | −4.1% | −4.6% |
| December 31, 2024 | −8.9% | +2.1% |
| September 30, 2024 | +12.5% | +5.4% |
| June 30, 2024 | −2.4% | +4.0% |
| March 31, 2024 | +13.4% | +10.0% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: ADAR1 Capital Management, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1940272&type=13F-HR&dateb=&owner=include&count=40CIK 1940272
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1940272/000194027226000015/Filed August 14, 2026 · accession 0001940272-26-000015