ADAR1 Capital Management, LLC Q2 2025 Filing
Filed August 14, 2025
Portfolio Value
$652.1B
Holdings
203
Report Date
Q2 2025
Filing Type
13F-HR
All Holdings (203 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | KROSKEROS THERAPEUTICS INC | 5,389,264 | $71.9B | 11.03% | |
| 2 | PTGXPROTAGONIST THERAPEUTICS INC | 948,069 | $52.4B | 8.04% | |
| 3 | SPYSPDR S&P 500 ETF TR | 63,184 | $39.0B | 5.99% | Put |
| 4 | BOXXEA SERIES TRUST | 337,125 | $38.0B | 5.83% | |
| 5 | ZLABZAI LAB LTD | 850,437 | $29.7B | 4.56% | |
| 6 | ABVXABIVAX SA | 3,071,340 | $23.5B | 3.60% | |
| 7 | ROIVROIVANT SCIENCES LTD | 1,940,797 | $21.9B | 3.35% | |
| 8 | PRTAPROTHENA CORP PLC | 3,375,009 | $20.5B | 3.14% | |
| 9 | CYTKCYTOKINETICS INC | 582,147 | $19.2B | 2.95% | |
| 10 | CGONCG ONCOLOGY INC | 523,216 | $13.6B | 2.09% | |
| 11 | BILSPDR SERIES TRUST | 135,585 | $12.4B | 1.91% | |
| 12 | BBIOBRIDGEBIO PHARMA INC | 259,659 | $11.2B | 1.72% | |
| 13 | IKTINHIBIKASE THERAPEUTICS INC | 5,122,105 | $10.0B | 1.53% | |
| 14 | SEPNSEPTERNA INC | 847,227 | $9.0B | 1.37% | |
| 15 | I9DNARBUTUS BIOPHARMA CORP | 2,825,773 | $8.7B | 1.34% | |
| 16 | ETNBGBP89BIO INC | 875,983 | $8.6B | 1.32% | |
| 17 | IMVTIMMUNOVANT INC | 535,066 | $8.6B | 1.31% | |
| 18 | YB4PSAVARA INC | 3,600,670 | $8.2B | 1.26% | |
| 19 | XENEXENON PHARMACEUTICALS INC | 259,503 | $8.1B | 1.25% | |
| 20 | BIOABIOAGE LABS INC | 1,937,123 | $8.0B | 1.23% | |
| 21 | —PERCEPTIVE CAP SOLUTIONS COR | 750,000 | $8.0B | 1.22% | |
| 22 | AMLXAMYLYX PHARMACEUTICALS INC | 1,205,101 | $7.7B | 1.18% | |
| 23 | JANXJANUX THERAPEUTICS INC | 326,988 | $7.6B | 1.16% | Call |
| 24 | CTMXCYTOMX THERAPEUTICS INC | 3,081,414 | $7.0B | 1.07% | |
| 25 | TSHATAYSHA GENE THERAPIES INC | 3,009,870 | $7.0B | 1.07% | |
| 26 | SG7SAGE THERAPEUTICS INC | 721,599 | $6.6B | 1.01% | |
| 27 | RAPTRAPT THERAPEUTICS INC | 783,217 | $6.3B | 0.96% | |
| 28 | YCYAA MISSION ACQUISITION CORP | 578,359 | $6.0B | 0.92% | |
| 29 | ISIIONIS PHARMACEUTICALS INC | 148,461 | $5.9B | 0.90% | |
| 30 | TEVATEVA PHARMACEUTICAL INDS LTD | 345,878 | $5.8B | 0.89% | |
| 31 | OACCOAKTREE ACQUISITION CORP III | 516,482 | $5.5B | 0.84% | |
| 32 | VERVVERVE THERAPEUTICS INC | 469,018 | $5.3B | 0.81% | |
| 33 | RVMDREVOLUTION MEDICINES INC | 134,136 | $4.9B | 0.76% | |
| 34 | HLXCHELIX ACQUISITION CORP II | 442,615 | $4.7B | 0.72% | |
| 35 | SRPTSAREPTA THERAPEUTICS INC | 265,313 | $4.5B | 0.70% | Call |
| 36 | SHYISHARES TR | 53,337 | $4.4B | 0.68% | |
| 37 | RZLTREZOLUTE INC | 989,297 | $4.4B | 0.68% | |
| 38 | BBIO 2.25 02/01/29BRIDGEBIO PHARMA INC | 4,500,000 | $4.2B | 0.64% | |
| 39 | MLYSMINERALYS THERAPEUTICS INC | 302,125 | $4.1B | 0.63% | |
| 40 | CNTACENTESSA PHARMACEUTICALS PLC | 296,766 | $3.9B | 0.60% | |
| 41 | MNPRMONOPAR THERAPEUTICS INC | 100,974 | $3.6B | 0.55% | |
| 42 | ARDXARDELYX INC | 915,130 | $3.6B | 0.55% | |
| 43 | THRDTHIRD HARMONIC BIO INC | 622,873 | $3.4B | 0.52% | |
| 44 | PCVXVAXCYTE INC | 98,032 | $3.2B | 0.49% | |
| 45 | RYTMRHYTHM PHARMACEUTICALS INC | 45,390 | $2.9B | 0.44% | |
| 46 | VRNAVERONA PHARMA PLC | 28,450 | $2.7B | 0.41% | |
| 47 | BBIO 2.5 03/15/27BRIDGEBIO PHARMA INC | 2,000,000 | $2.5B | 0.38% | |
| 48 | ALECALECTOR INC | 1,723,526 | $2.4B | 0.37% | |
| 49 | VRDNVIRIDIAN THERAPEUTICS INC | 170,598 | $2.4B | 0.37% | |
| 50 | SMMTSUMMIT THERAPEUTICS INC | 112,000 | $2.4B | 0.37% | Call |
| 51 | ASPCRA SPAC III ACQUISITION CORP | 215,000 | $2.2B | 0.34% | |
| 52 | CRMDCORMEDIX INC | 175,000 | $2.2B | 0.33% | |
| 53 | NAMSNEWAMSTERDAM PHARMA COMPANY | 112,359 | $2.0B | 0.31% | |
| 54 | DCTHDELCATH SYS INC | 149,385 | $2.0B | 0.31% | |
| 55 | AVRANTERIS TECHNOLOGIES GLOBAL | 531,515 | $2.0B | 0.31% | |
| 56 | 2L9BLUEPRINT MEDICINES CORP | 15,000 | $1.9B | 0.29% | |
| 57 | VKTXVIKING THERAPEUTICS INC | 67,813 | $1.8B | 0.28% | |
| 58 | AKROAKERO THERAPEUTICS INC | 33,143 | $1.8B | 0.27% | |
| 59 | REGNREGENERON PHARMACEUTICALS | 3,361 | $1.8B | 0.27% | |
| 60 | RGNXREGENXBIO INC | 207,818 | $1.7B | 0.26% | |
| 61 | DVAXDYNAVAX TECHNOLOGIES CORP | 170,000 | $1.7B | 0.26% | |
| 62 | MLTXMOONLAKE IMMUNOTHERAPEUTICS | 34,314 | $1.6B | 0.25% | |
| 63 | ORKAORUKA THERAPEUTICS INC | 142,780 | $1.6B | 0.25% | |
| 64 | KNSAKINIKSA PHARMACEUTICALS INTL | 56,540 | $1.6B | 0.24% | |
| 65 | CRNXCRINETICS PHARMACEUTICALS IN | 53,125 | $1.5B | 0.23% | |
| 66 | TECXTECTONIC THERAPEUTIC INC | 73,505 | $1.5B | 0.22% | |
| 67 | SLNOSOLENO THERAPEUTICS INC | 17,330 | $1.5B | 0.22% | |
| 68 | SRRKSCHOLAR ROCK HLDG CORP | 39,677 | $1.4B | 0.22% | |
| 69 | CATBUSDASTRIA THERAPEUTICS INC | 249,646 | $1.3B | 0.21% | |
| 70 | NKTRNEKTAR THERAPEUTICS | 50,796 | $1.3B | 0.20% | Put |
| 71 | ALKSALKERMES PLC | 45,000 | $1.3B | 0.20% | |
| 72 | VIRVIR BIOTECHNOLOGY INC | 250,000 | $1.3B | 0.19% | |
| 73 | AGIOAGIOS PHARMACEUTICALS INC | 35,900 | $1.2B | 0.18% | |
| 74 | TCE2CELLDEX THERAPEUTICS INC NEW | 57,466 | $1.2B | 0.18% | |
| 75 | SWTXSPRINGWORKS THERAPEUTICS INC | 24,082 | $1.1B | 0.17% | |
| 76 | ESTAESTABLISHMENT LABS HLDGS INC | 25,000 | $1.1B | 0.16% | |
| 77 | ABOSACUMEN PHARMACEUTICALS INC | 916,183 | $1.1B | 0.16% | |
| 78 | CDTXCIDARA THERAPEUTICS INC | 21,522 | $1.0B | 0.16% | |
| 79 | ZURAZURA BIO LTD | 997,547 | $1.0B | 0.16% | |
| 80 | BSAABEST SPAC I ACQUISITION CORP | 100,000 | $1.0B | 0.15% | |
| 81 | ARGXARGENX SE | 1,759 | $969.6M | 0.15% | |
| 82 | MRUSMERUS N V | 18,313 | $963.3M | 0.15% | |
| 83 | ALDXALDEYRA THERAPEUTICS INC | 249,920 | $957.2M | 0.15% | |
| 84 | PFEPFIZER INC | 39,400 | $955.1M | 0.15% | |
| 85 | ARVNARVINAS INC | 128,767 | $947.7M | 0.15% | |
| 86 | ACLXARCELLX INC | 13,962 | $919.4M | 0.14% | |
| 87 | NUVLNUVALENT INC | 11,842 | $903.5M | 0.14% | |
| 88 | TENXTENAX THERAPEUTICS INC | 155,557 | $896.0M | 0.14% | |
| 89 | SGRYSURGERY PARTNERS INC | 40,000 | $889.2M | 0.14% | |
| 90 | ARWRARROWHEAD PHARMACEUTICALS IN | 55,200 | $872.2M | 0.13% | |
| 91 | KRROKORRO BIO INC | 68,815 | $859.5M | 0.13% | |
| 92 | KVACKEEN VISION ACQUISITION CORP | 75,000 | $852.8M | 0.13% | |
| 93 | VTGNVISTAGEN THERAPEUTICS INC | 420,765 | $841.5M | 0.13% | |
| 94 | BHVNBIOHAVEN LTD | 57,341 | $809.1M | 0.12% | Call |
| 95 | APGEAPOGEE THERAPEUTICS INC | 18,070 | $784.8M | 0.12% | |
| 96 | WVEWAVE LIFE SCIENCES LTD | 114,814 | $746.3M | 0.11% | |
| 97 | KALAKALA BIO INC | 149,830 | $713.2M | 0.11% | |
| 98 | LRMRLARIMAR THERAPEUTICS INC | 237,605 | $686.7M | 0.11% | |
| 99 | RCKTROCKET PHARMACEUTICALS INC | 275,800 | $675.7M | 0.10% | |
| 100 | KZRKEZAR LIFE SCIENCES INC | 147,404 | $675.1M | 0.10% |
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