ADAR1 Capital Management, LLC

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CIK 1940272

13F portfolio (2026-Q1)

$1.7B

Positions

291

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

290

Top 5

28.3%

Top 10

40.8%

Effective N

38.7

HHI

0.026

This quarter

72 new · 0 exit →

By sector

Health Care85.9%

Unclassified12.8%

Financials0.5%

Information Technology0.5%

Consumer Discretionary0.1%

Industrials0.1%

Materials0.1%

Real Estate0.1%

By market cap

Mid ($2–10B)35.0%

Unknown24.9%

Small ($300M–2B)20.9%

Large ($10–200B)12.2%

Micro (<$300M)6.3%

Mega (>$200B)0.6%

By region

North America86.2%

Other12.8%

Europe0.9%

Asia-Pacific0.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Pharmaceuticals & Biotechnology	81.69%	216
Unclassified	12.83%	36
Health Care Equipment & Supplies	3.96%	15
Insurance	0.44%	3
Technology Hardware & Equipment	0.37%	2
Health Care Providers & Services	0.12%	5
Life Sciences Tools & Services	0.11%	2
Software	0.09%	3
Transportation Infrastructure	0.08%	1
Chemicals	0.08%	1
Distributors	0.06%	1
Equity Real Estate Investment Trusts (REITs)	0.05%	1
Diversified Consumer Services	0.05%	1
Commercial Services & Supplies	0.03%	1
Banks	0.03%	1
Specialty Retail	0.02%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	ABVX	Abivax S.A.	Health Care	9.40%
2	PTGX	Protagonist Therapeutics, Inc	Health Care	6.35%
3	ROIV	Roivant Sciences Ltd.	Health Care	5.51%
4	IMVT	Immunovant, Inc.	Health Care	4.03%
5	SPY	STATE STR SPDR S&P 500 ETF T	Unclassified	2.99%
6		TERNS PHARMACEUTICALS INC	Unclassified	2.92%
7	CYTK	CYTOKINETICS INC	Health Care	2.53%
8	CRNX	Crinetics Pharmaceuticals, Inc.	Health Care	2.51%
9	BOXX	EA SERIES TRUST	Unclassified	2.38%
10	DNLI	Denali Therapeutics Inc.	Health Care	2.18%

254/290 names classified · sector 87.2% of weight · industry 87.2% · mkt cap 75.1%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 10 quarters

Health CarePTGX, KROS, CYTK, ABVX, RPRX · other

Information TechnologyDHR, KDK, EA, TRIP, INFQ · other

Consumer StaplesCTVA, UCFI, MO, CVS, BYND

FinancialsBHF, GLRE, UNH, BUR, CORZ · other

Consumer DiscretionaryMCK, WW, TH, AIEV, JD · other

MaterialsKVUE, SXT, PRM, ZONE

UtilitiesAQN, OKLO

Real EstateHHH, ARE

IndustrialsBABA, FWRD

Communication ServicesCCOI, GOOGL

Energy

UnclassifiedBOXX, SPY, Merrimack Pharmaceuticals Inc, 89BIO INC, AVIDITY BIOSCIENCES INC · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 87.2% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 6% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (38 classified)ADAR1 Capital Management, LLC centroid (Mid Core)

Health CareFinancialsInformation TechnologyIndustrialsMaterialsConsumer Discretionary

Style box summary for ADAR1 Capital Management, LLC: centroid Mid Core. Heaviest cells: Small Growth 1.8%, Mid Core 1.1%, Large Growth 0.6%.

Classified: 5.6% of book weight (38/280 names) · unclassified 94.4%: ABVX, PTGX, ROIV, IMVT, , SPY, CYTK, CRNX, BOXX, DNLI +232 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 291 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	ABVXABIVAX SA	1,394,019	$155M	9.4%	ADD 6%
2	PTGXPROTAGONIST THERAPEUTICS INC	994,119	$105M	6.3%	TRIM −5%
3	ROIVROIVANT SCIENCES LTD	3,285,906	$91M	5.5%	TRIM −4%
4	IMVTIMMUNOVANT INC	2,679,010	$67M	4.0%	ADD 8%
5	SPYSTATE STR SPDR S&P 500 ETF T	75,940	$49M	3.0%	ADD 39%
6	TERNS PHARMACEUTICALS INC	914,699	$48M	2.9%	ADD 69%
7	CYTKCYTOKINETICS INC	632,556	$42M	2.5%	ADD 17%
8	CRNXCRINETICS PHARMACEUTICALS IN	1,139,331	$41M	2.5%	ADD 268%
9	BOXXEA SERIES TRUST	337,125	$39M	2.4%	HOLD
10	DNLIDENALI THERAPEUTICS INC	1,871,455	$36M	2.2%	ADD 3491%
11	BEAMBEAM THERAPEUTICS INC	1,446,375	$34M	2.1%	NEW
12	ZLABZAI LAB LTD	1,425,367	$27M	1.6%	ADD 14%
13	SEPNSEPTERNA INC	1,089,818	$26M	1.6%	TRIM −6%
14	VIRVIR BIOTECHNOLOGY INC	2,744,714	$25M	1.5%	NEW
15	DBVTDBV TECHNOLOGIES S A	1,012,866	$21M	1.3%	NEW
16	AVRANTERIS TECHNOLOGIES GLOBAL	3,789,132	$21M	1.3%	ADD 206%
17	INSPINSPIRE MED SYS INC	405,197	$21M	1.3%	ADD 2601%
18	SRRKSCHOLAR ROCK HLDG CORP	407,273	$20M	1.2%	ADD 485%
19	RYTMRHYTHM PHARMACEUTICALS INC	211,450	$18M	1.1%	ADD 312%
20	SYRESPYRE THERAPEUTICS INC	338,323	$17M	1.0%	ADD 894%
21	CTMXCYTOMX THERAPEUTICS INC.	3,410,190	$16M	1.0%	TRIM −18%
22	PRTAPROTHENA CORP PLC	1,581,443	$15M	0.9%	ADD 8%
23	SNYSANOFI SA	316,939	$15M	0.9%	ADD 399%
24	PCVXVAXCYTE INC	259,137	$15M	0.9%	TRIM −18%
25	MNPRMONOPAR THERAPEUTICS INC	264,278	$14M	0.9%	ADD 13%
26	ABUSARBUTUS BIOPHARMA CORP	3,133,175	$14M	0.9%	TRIM −42%
27	AMLXAMYLYX PHARMACEUTICALS INC	1,000,604	$14M	0.8%	ADD 12%
28	CLDXCELLDEX THERAPEUTICS INC NEW	427,816	$14M	0.8%	TRIM −34%
29	TSHATAYSHA GENE THERAPIES INC	2,979,429	$13M	0.8%	ADD 19%
30	XENEXENON PHARMACEUTICALS INC	228,899	$13M	0.8%	ADD 12%
31	STROSUTRO BIOPHARMA INC	524,441	$13M	0.8%	ADD 682%
32	RVMDREVOLUTION MEDICINES INC	133,893	$13M	0.8%	TRIM −8%
33	ELVNENLIVEN THERAPEUTICS INC	329,540	$13M	0.8%	ADD 998%
34	CGONCG ONCOLOGY INC	185,699	$13M	0.8%	TRIM −28%
35	BILSPDR SERIES TRUST	135,585	$12M	0.8%	HOLD
36	ESTAESTABLISHMENT LABS HLDGS INC	213,473	$12M	0.7%	ADD 25%
37	REPLREPLIMUNE GROUP INC	1,582,987	$12M	0.7%	ADD 28%
38	IVAINVENTIVA SA	2,174,398	$12M	0.7%	TRIM −20%
39	IONSIONIS PHARMACEUTICALS INC	160,338	$12M	0.7%	ADD 9%
40	NKTRNEKTAR THERAPEUTICS	161,252	$12M	0.7%	ADD 124%
41	IKTINHIBIKASE THERAPEUTICS INC	6,606,572	$11M	0.7%	TRIM −18%
42	SPRYARS PHARMACEUTICALS INC	1,361,536	$11M	0.7%	ADD 268%
43	HLXCHELIX ACQUISITION CORP III	1,000,000	$10M	0.6%	NEW
44	OVIDOVID THERAPEUTICS INC	4,544,113	$10M	0.6%	ADD 6%
45	OKURONKURE THERAPEUTICS INC	2,434,941	$10M	0.6%	ADD 140%
46	REGNREGENERON PHARMACEUTICALS	12,154	$9M	0.6%	HOLD
47	MLTXMOONLAKE IMMUNOTHERAPEUTICS	457,137	$9M	0.5%	NEW
48	LXEOLEXEO THERAPEUTICS INC	1,467,350	$8M	0.5%	ADD 5%
49	IRDOPUS GENETICS INC	1,849,004	$8M	0.5%	ADD 4523%
50	TEVATEVA PHARMACEUTICAL INDS LTD	268,391	$8M	0.5%	ADD 14%
51	SVRASAVARA INC	1,464,535	$8M	0.5%	ADD 4%
52	MPLTMAPLIGHT THERAPEUTICS INC	374,909	$8M	0.5%	NEW
53	LONALEONABIO INC	727,481	$7M	0.5%	ADD 85%
54	EQEQUILLIUM INC	3,726,659	$7M	0.5%	TRIM −34%
55	VKTXVIKING THERAPEUTICS INC	227,717	$7M	0.4%	ADD 760%
56	DMRADAMORA THERAPEUTICS INC	279,000	$7M	0.4%	NEW
57	URGNUROGEN PHARMA LTD	395,459	$7M	0.4%	ADD 215%
58	BBIOBRIDGEBIO PHARMA INC	94,292	$7M	0.4%	TRIM −56%
59	PRMEPRIME MEDICINE INC	1,973,282	$7M	0.4%	NEW
60	VRTXVERTEX PHARMACEUTICALS INC	15,075	$7M	0.4%	ADD 10%
61	KRROKORRO BIO INC	540,054	$6M	0.4%	NEW
62	VRDNVIRIDIAN THERAPEUTICS INC	304,422	$6M	0.4%	ADD 294%
63	DHRDANAHER CORP DEL	30,932	$6M	0.4%	ADD 21%
64	INSMINSMED INC	35,392	$6M	0.4%	NEW
65	ASNDASCENDIS PHARMA A/S	25,014	$6M	0.3%	HOLD
66	BHFBRIGHTHOUSE FINL INC	95,523	$6M	0.3%	HOLD
67	SRPTSAREPTA THERAPEUTICS INC	262,058	$6M	0.3%	ADD 808%
68	OACCUOAKTREE ACQUISITION CORP III	516,482	$6M	0.3%	HOLD
69	PCSCPERCEPTIVE CAP SOLUTIONS COR	499,581	$5M	0.3%	ADD 9%
70	KRYSKRYSTAL BIOTECH INC	20,014	$5M	0.3%	HOLD
71	ABOSACUMEN PHARMACEUTICALS INC	2,156,334	$5M	0.3%	ADD 142%
72	IVVDINVIVYD INC	3,822,427	$5M	0.3%	HOLD
73	BHAVUBHAV ACQUISITION CORP	495,000	$5M	0.3%	NEW
74	TARAPROTARA THERAPEUTICS INC	940,512	$5M	0.3%	TRIM −17%
75	AGIOAGIOS PHARMACEUTICALS INC	140,672	$5M	0.3%	TRIM −25%
76	LLYELI LILLY & CO	5,060	$5M	0.3%	NEW
77	DNTHDIANTHUS THERAPEUTICS INC	55,000	$5M	0.3%	NEW
78	ARWRARROWHEAD PHARMACEUTICALS IN	70,300	$4M	0.3%	ADD 21%
79	BLTEBELITE BIO INC	26,880	$4M	0.3%	TRIM −33%
80	EVMNEVOMMUNE INC	184,062	$4M	0.3%	HOLD
81	MLYSMINERALYS THERAPEUTICS INC	154,686	$4M	0.3%	ADD 14%
82	JANXJANUX THERAPEUTICS INC	298,546	$4M	0.3%	ADD 22%
83	CLYMCLIMB BIO INC	597,662	$4M	0.2%	TRIM −58%
84	PALIPALISADE BIO INC	2,264,845	$4M	0.2%	ADD 13%
85	AEXAAMERICAN EXCEPTIONALISM ACQU	357,539	$4M	0.2%	HOLD
86	SPRBSPRUCE BIOSCIENCES INC	58,600	$4M	0.2%	HOLD
87	NAMSNEWAMSTERDAM PHARMA COMPANY	118,623	$4M	0.2%	HOLD
88	ZURAZURA BIO LTD	630,403	$4M	0.2%	ADD 12%
89	ARCELLX INC	32,084	$4M	0.2%	HOLD
90	CTNMCONTINEUM THERAPEUTICS INC	276,661	$4M	0.2%	HOLD
91	GLUEMONTE ROSA THERAPEUTICS INC	215,752	$4M	0.2%	HOLD
92	ONCBEONE MEDICINES LTD	11,701	$3M	0.2%	NEW
93	TENXTENAX THERAPEUTICS INC	213,462	$3M	0.2%	ADD 235%
94	AVBPARRIVENT BIOPHARMA INC	141,814	$3M	0.2%	NEW
95	PLRXPLIANT THERAPEUTICS INC	2,585,126	$3M	0.2%	ADD 3402%
96	ATAIATAIBECKLEY INC	913,242	$3M	0.2%	NEW
97	RLMDRELMADA THERAPEUTICS INC	451,918	$3M	0.2%	ADD 1364%
98	CATXPERSPECTIVE THERAPEUTICS INC	749,335	$3M	0.2%	ADD 687%
99	CRBPCORBUS PHARMACEUTICALS HLDGS	331,781	$3M	0.2%	ADD 16%
100	ELDNELEDON PHARMACEUTICALS INC	974,421	$3M	0.2%	TRIM −47%
101	PHVSPHARVARIS N V	105,528	$3M	0.2%	ADD 23%
102	APELLIS PHARMACEUTICALS INC	72,500	$3M	0.2%	ADD 263%
103	EWTXEDGEWISE THERAPEUTICS INC	90,599	$3M	0.2%	HOLD
104	PEPGPEPGEN INC	1,607,638	$3M	0.2%	ADD 4264%
105	CAPRCAPRICOR THERAPEUTICS INC	90,593	$3M	0.2%	NEW
106	MASIMASIMO CORP	15,000	$3M	0.2%	HOLD
107	INOINOVIO PHARMACEUTICALS INC	1,470,108	$3M	0.2%	HOLD
108	TFXTELEFLEX INCORPORATED	21,186	$3M	0.2%	TRIM −74%
109	DRUGBRIGHT MINDS BIOSCIENCES INC	33,900	$2M	0.1%	ADD 869%
110	BIOABIOAGE LABS INC	135,560	$2M	0.1%	HOLD
111	ALECALECTOR INC	1,050,000	$2M	0.1%	TRIM −5%
112	PFEPFIZER INC	77,400	$2M	0.1%	ADD 7%
113	DCTHDELCATH SYS INC	224,385	$2M	0.1%	HOLD
114	BIIBBIOGEN INC	11,000	$2M	0.1%	TRIM −55%
115	CNTBCONNECT BIOPHARMA HLDGS LTD	742,400	$2M	0.1%	NEW
116	SMMTSUMMIT THERAPEUTICS INC	91,869	$2M	0.1%	HOLD
117	GMEDGLOBUS MED INC	20,100	$2M	0.1%	HOLD
118	ALKSALKERMES PLC	46,400	$2M	0.1%	TRIM −27%
119	SOLENO THERAPEUTICS INC	46,830	$2M	0.1%	ADD 12%
120	CCIIUCOHEN CIRCLE ACQUISIT CORP I	150,000	$2M	0.1%	HOLD
121	RCKTROCKET PHARMACEUTICALS INC	432,500	$2M	0.1%	TRIM −9%
122	SUPNSUPERNUS PHARMACEUTICALS INC	29,642	$2M	0.1%	HOLD
123	CENTESSA PHARMACEUTICALS PLC	38,566	$2M	0.1%	HOLD
124	AMICUS THERAPEUTICS INC	105,000	$2M	0.1%	NEW
125	MAZEMAZE THERAPEUTICS INC	50,095	$1M	0.1%	TRIM −72%
126	UNHUNITEDHEALTH GROUP INC	5,501	$1M	0.1%	NEW
127	ADGMADAGIO MED HLDGS INC	1,205,447	$1M	0.1%	ADD 4%
128	FWRDFORWARD AIR CORP	78,241	$1M	0.1%	ADD 194%
129	SXTSENSIENT TECHNOLOGIES CORP	15,000	$1M	0.1%	NEW
130	KNSAKINIKSA PHARMACEUTICALS INTL	26,913	$1M	0.1%	TRIM −6%
131	CRVSCORVUS PHARMACEUTICALS INC	87,901	$1M	0.1%	TRIM −81%
132	MSLESATELLOS BIOSCIENCE INC	222,555	$1M	0.1%	NEW
133	QUREUNIQURE NV	76,206	$1M	0.1%	TRIM −68%
134	NVONOVO-NORDISK A S	33,000	$1M	0.1%	NEW
135	PMNPROMIS NEUROSCIENCES INC	95,350	$1M	0.1%	NEW
136	LXRXLEXICON PHARMACEUTICALS INC	750,000	$1M	0.1%	NEW
137	SDGRSCHRODINGER INC	101,500	$1M	0.1%	NEW
138	XNCRXENCOR INC	93,665	$1M	0.1%	ADD 67%
139	OABIOMNIAB INC	705,190	$1M	0.1%	HOLD
140	FDMT4D MOLECULAR THERAPEUTICS IN	116,712	$1M	0.1%	HOLD
141	KROSKEROS THERAPEUTICS INC	97,318	$1M	0.1%	ADD 416%
142	DAY ONE BIOPHARMACEUTICALS I	49,923	$1M	0.1%	NEW
143	BMYBRISTOL-MYERS SQUIBB CO	17,500	$1M	0.1%	TRIM −13%
144	TNGXTANGO THERAPEUTICS INC	50,000	$1M	0.1%	TRIM −64%
145	TNYATENAYA THERAPEUTICS INC	1,507,800	$1M	0.1%	HOLD
146	BSAAUBEST SPAC I ACQUISITION CORP	100,000	$1M	0.1%	HOLD
147	MCKMCKESSON CORP	1,200	$1M	0.1%	HOLD
148	BMRNBIOMARIN PHARMACEUTICAL INC	18,200	$1M	0.1%	ADD 41%
149	ARROWHEAD PHARMACEUTICALS IN	10,000	$1M	0.1%	NEW
150	ORKAORUKA THERAPEUTICS INC	20,840	$1M	0.1%	HOLD
151	EAELECTRONIC ARTS INC	4,936	$1M	0.1%	HOLD
152	FULCFULCRUM THERAPEUTICS INC	130,560	$1M	0.1%	TRIM −90%
153	BCRXBIOCRYST PHARMACEUTICALS INC	105,000	$999,600	0.1%	ADD 133%
154	GHGUARDANT HEALTH INC	10,000	$923,700	0.1%	ADD 43%
155	CBIOCRESCENT BIOPHARMA INC.	50,273	$923,515	0.1%	TRIM −92%
156	CNTXCONTEXT THERAPEUTICS INC	351,094	$919,866	0.1%	HOLD
157	ENGENE HOLDINGS INC	133,686	$910,402	0.1%	TRIM −56%
158	SLNSILENCE THERAPEUTICS PLC	172,157	$907,267	0.1%	ADD 628%
159	AREALEXANDRIA REAL ESTATE EQ IN	19,500	$905,190	0.1%	ADD 20%
160	IBIOIBIO INC	469,878	$892,768	0.1%	ADD 16%
161	BNTXBIONTECH SE	10,000	$888,800	0.1%	HOLD
162	GILDGILEAD SCIENCES INC	6,351	$885,139	0.1%	TRIM −5%
163	NRIXNURIX THERAPEUTICS INC	56,070	$869,085	0.1%	TRIM −22%
164	DYNDYNE THERAPEUTICS INC	47,463	$860,504	0.1%	ADD 11%
165	ISRGINTUITIVE SURGICAL INC	1,830	$843,612	0.1%	ADD 79%
166	ANLADLAI NORTYE LTD	117,909	$815,930	0.0%	NEW
167	WWWW INTL INC	57,700	$792,798	0.0%	HOLD
168	RNAATRIUM THERAPEUTICS INC	57,688	$771,000	0.0%	NEW
169	ITGRINTEGER HLDGS CORP	8,750	$770,000	0.0%	NEW
170	KPTIKARYOPHARM THERAPEUTICS INC	136,736	$761,620	0.0%	ADD 173%
171	CMPXCOMPASS THERAPEUTICS INC	139,000	$735,310	0.0%	HOLD
172	NUVLNUVALENT INC	6,942	$711,208	0.0%	HOLD
173	CGEMCULLINAN THERAPEUTICS INC	50,000	$710,500	0.0%	HOLD
174	IDYAIDEAYA BIOSCIENCES INC	20,000	$666,400	0.0%	HOLD
175	ENTAENANTA PHARMACEUTICALS INC	51,357	$648,639	0.0%	ADD 24%
176	VERAVERA THERAPEUTICS INC	16,033	$645,008	0.0%	ADD 9%
177	VYNEVYNE THERAPEUTICS INC	1,063,899	$635,680	0.0%	ADD 319%
178	BSXBOSTON SCIENTIFIC CORP	10,000	$627,500	0.0%	ADD 100%
179	AVTRAVANTOR INC	80,000	$627,200	0.0%	ADD 14%
180	ARVNARVINAS INC	57,591	$610,465	0.0%	HOLD
181	KEZAR LIFE SCIENCES INC	81,933	$607,943	0.0%	TRIM −30%
182	KLRSKALARIS THERAPEUTICS INC	100,000	$577,000	0.0%	HOLD
183	MIRMMIRUM PHARMACEUTICALS INC	6,200	$572,756	0.0%	NEW
184	JAZZJAZZ PHARMACEUTICALS PLC	3,000	$567,150	0.0%	TRIM −63%
185	ASMBASSEMBLY BIOSCIENCES INC	19,947	$553,529	0.0%	HOLD
186	PRLDPRELUDE THERAPEUTICS INC	152,825	$522,662	0.0%	NEW
187	GTERUGLOBA TERRA ACQUISITION COR	50,000	$518,000	0.0%	HOLD
188	USFRWISDOMTREE TR	10,000	$503,400	0.0%	HOLD
189	ACRSACLARIS THERAPEUTICS INC	132,426	$496,598	0.0%	TRIM −78%
190	PRAXPRAXIS PRECISION MEDICINES I	1,500	$483,285	0.0%	HOLD
191	LUNGPULMONX CORP	374,497	$483,101	0.0%	ADD 5%
192	ELANELANCO ANIMAL HEALTH INC	20,000	$478,600	0.0%	HOLD
193	PHATPHATHOM PHARMACEUTICALS INC	42,900	$476,619	0.0%	HOLD
194	MDGLMADRIGAL PHARMACEUTICALS INC	895	$468,506	0.0%	HOLD
195	PYPDPOLYPID LTD	103,950	$455,301	0.0%	HOLD
196	BABAALIBABA GROUP HLDG LTD	3,578	$448,896	0.0%	HOLD
197	CORZCORE SCIENTIFIC INC NEW	30,000	$448,800	0.0%	HOLD
198	WHWKWHITEHAWK THERAPEUTICS INC	128,503	$443,335	0.0%	ADD 66%
199	NTRANATERA INC	2,147	$429,379	0.0%	HOLD
200	VTGNVISTAGEN THERAPEUTICS INC	751,141	$429,277	0.0%	ADD 20%

showing the top 200 by weight

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

ABVXABIVAX SA

1.5M

2.2M

3.1M

1.4M

1.3M

1.4M

$155M

PTGXPROTAGONIST THERAPEUTICS INC

1.0M

940K

948K

989K

1.0M

994K

$105M

ROIVROIVANT SCIENCES LTD

3.5M

1.9M

3.3M

3.4M

3.3M

$91M

IMVTIMMUNOVANT INC

787K

969K

535K

2.2M

2.5M

2.7M

$67M

SPYSTATE STR SPDR S&P 500 ETF T

—

23K

55K

76K

$49M

TERNS PHARMACEUTICALS INC

—

28K

10K

542K

915K

$48M

CYTKCYTOKINETICS INC

414K

391K

582K

519K

540K

633K

$42M

CRNXCRINETICS PHARMACEUTICALS IN

53K

248K

309K

1.1M

$41M

BOXXEA SERIES TRUST

325K

337K

$39M

DNLIDENALI THERAPEUTICS INC

45K

14K

36K

52K

1.9M

$36M

BEAMBEAM THERAPEUTICS INC

38K

—

1.4M

$34M

ZLABZAI LAB LTD

1.0M

941K

850K

869K

1.2M

1.4M

$27M

SEPNSEPTERNA INC

—

721K

847K

1.2M

1.1M

$26M

VIRVIR BIOTECHNOLOGY INC

64K

250K

—

2.7M

$25M

DBVTDBV TECHNOLOGIES S A

—

1.0M

$21M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆ADAR1 Capital Management, LLC

Implied return what this book implies · modeled, not advice methodology →

Exposures · what this manager owns, by sector & size (2026-Q1)

By sector

By market cap

By region

By industry group GICS — finer than sector

Top holdings

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Contribution holdings-based, any period

Holdings· 291 positions (2026-Q1) · largest first · Δ vs 2025-Q4

Position trends· top 15 holdings · shares held over 6 quarters

Related· where to look next

ADAR1 Capital Management, LLC