ADAR1 Capital Management, LLC Q3 2025 Filing
Filed November 14, 2025
Portfolio Value
$1.1T
Holdings
203
Report Date
Q3 2025
Filing Type
13F-HR
All Holdings (203 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | ABVXABIVAX SA | 1,350,826 | $114.7B | 10.77% | |
| 2 | KROSKEROS THERAPEUTICS INC | 5,389,264 | $85.3B | 8.01% | |
| 3 | SPYSPDR S&P 500 ETF TR | 100,184 | $66.7B | 6.27% | Put |
| 4 | PTGXPROTAGONIST THERAPEUTICS INC | 989,182 | $65.7B | 6.17% | |
| 5 | ROIVROIVANT SCIENCES LTD | 3,347,501 | $50.6B | 4.76% | |
| 6 | BOXXEA SERIES TRUST | 337,125 | $38.4B | 3.61% | |
| 7 | IMVTIMMUNOVANT INC | 2,241,753 | $36.1B | 3.39% | |
| 8 | ETNBGBP89BIO INC | 2,113,153 | $31.1B | 2.92% | |
| 9 | ZLABZAI LAB LTD | 868,780 | $29.4B | 2.77% | |
| 10 | CYTKCYTOKINETICS INC | 518,921 | $28.5B | 2.68% | |
| 11 | SEPNSEPTERNA INC | 1,176,491 | $22.1B | 2.08% | |
| 12 | QUREUNIQURE NV | 333,316 | $19.5B | 1.83% | Call |
| 13 | PRTAPROTHENA CORP PLC | 1,469,098 | $14.3B | 1.35% | |
| 14 | BBIOBRIDGEBIO PHARMA INC | 273,414 | $14.2B | 1.33% | |
| 15 | I9DNARBUTUS BIOPHARMA CORP | 2,903,226 | $13.2B | 1.24% | |
| 16 | RAPTRAPT THERAPEUTICS INC | 507,771 | $13.1B | 1.23% | |
| 17 | CTMXCYTOMX THERAPEUTICS INC | 4,045,414 | $12.9B | 1.21% | |
| 18 | BILSPDR SERIES TRUST | 135,585 | $12.4B | 1.17% | |
| 19 | AMLXAMYLYX PHARMACEUTICALS INC | 866,202 | $11.8B | 1.11% | |
| 20 | BIOABIOAGE LABS INC | 1,880,073 | $11.1B | 1.04% | |
| 21 | MNPRMONOPAR THERAPEUTICS INC | 129,999 | $10.6B | 1.00% | |
| 22 | YCYAA MISSION ACQUISITION CORP | 983,448 | $10.3B | 0.97% | Call |
| 23 | CRNXCRINETICS PHARMACEUTICALS IN | 248,368 | $10.3B | 0.97% | |
| 24 | LXEOLEXEO THERAPEUTICS INC | 1,531,953 | $10.2B | 0.96% | |
| 25 | CGONCG ONCOLOGY INC | 248,917 | $10.0B | 0.94% | |
| 26 | TSHATAYSHA GENE THERAPIES INC | 2,835,680 | $9.3B | 0.87% | |
| 27 | REGNREGENERON PHARMACEUTICALS | 15,700 | $8.8B | 0.83% | |
| 28 | ISIIONIS PHARMACEUTICALS INC | 133,818 | $8.8B | 0.82% | |
| 29 | JANXJANUX THERAPEUTICS INC | 351,032 | $8.6B | 0.81% | |
| 30 | IKTINHIBIKASE THERAPEUTICS INC | 5,247,603 | $8.5B | 0.80% | |
| 31 | IVVDINVIVYD INC | 7,370,987 | $8.1B | 0.76% | |
| 32 | MTSRMETSERA INC | 152,521 | $8.0B | 0.75% | |
| 33 | EQEQUILLIUM INC | 5,559,988 | $8.0B | 0.75% | |
| 34 | —PERCEPTIVE CAP SOLUTIONS COR | 750,000 | $7.9B | 0.74% | |
| 35 | PCVXVAXCYTE INC | 213,064 | $7.7B | 0.72% | |
| 36 | RZLTREZOLUTE INC | 815,975 | $7.7B | 0.72% | |
| 37 | XENEXENON PHARMACEUTICALS INC | 189,098 | $7.6B | 0.71% | |
| 38 | ASNDASCENDIS PHARMA A/S | 36,345 | $7.2B | 0.68% | |
| 39 | YB4PSAVARA INC | 1,988,288 | $7.1B | 0.67% | |
| 40 | SRPTSAREPTA THERAPEUTICS INC | 349,807 | $6.7B | 0.63% | |
| 41 | RVMDREVOLUTION MEDICINES INC | 139,136 | $6.5B | 0.61% | |
| 42 | BBOTBRIDGEBIO ONCOLOGY THERAPEUT | 501,228 | $5.8B | 0.55% | |
| 43 | VRNAVERONA PHARMA PLC | 51,450 | $5.5B | 0.52% | |
| 44 | OACCOAKTREE ACQUISITION CORP III | 516,482 | $5.5B | 0.51% | |
| 45 | TEVATEVA PHARMACEUTICAL INDS LTD | 267,816 | $5.4B | 0.51% | |
| 46 | RYTMRHYTHM PHARMACEUTICALS INC | 49,571 | $5.0B | 0.47% | |
| 47 | ATAIATAI LIFE SCIENCES NV | 913,242 | $4.8B | 0.45% | |
| 48 | UTHUNITED THERAPEUTICS CORP DEL | 11,200 | $4.7B | 0.44% | |
| 49 | VKTXVIKING THERAPEUTICS INC | 175,919 | $4.6B | 0.43% | |
| 50 | BBIO 2.25 02/01/29BRIDGEBIO PHARMA INC | 45,000 | $4.4B | 0.42% | |
| 51 | REPLREPLIMUNE GROUP INC | 1,028,894 | $4.3B | 0.40% | Call |
| 52 | NKTRNEKTAR THERAPEUTICS | 72,007 | $4.1B | 0.38% | |
| 53 | XBISPDR SERIES TRUST | 40,000 | $4.0B | 0.38% | Put |
| 54 | FULCFULCRUM THERAPEUTICS INC | 416,612 | $3.8B | 0.36% | Call |
| 55 | ESTAESTABLISHMENT LABS HLDGS INC | 90,688 | $3.7B | 0.35% | |
| 56 | SNYSANOFI SA | 74,212 | $3.5B | 0.33% | |
| 57 | KRYSKRYSTAL BIOTECH INC | 18,523 | $3.3B | 0.31% | |
| 58 | NAMSNEWAMSTERDAM PHARMA COMPANY | 114,359 | $3.3B | 0.31% | |
| 59 | MRUSMERUS N V | 33,313 | $3.1B | 0.29% | |
| 60 | MLYSMINERALYS THERAPEUTICS INC | 78,238 | $3.0B | 0.28% | |
| 61 | KNSAKINIKSA PHARMACEUTICALS INTL | 75,187 | $2.9B | 0.27% | |
| 62 | TCE2CELLDEX THERAPEUTICS INC NEW | 109,442 | $2.8B | 0.27% | |
| 63 | ZURAZURA BIO LTD | 652,154 | $2.8B | 0.27% | |
| 64 | BBIO 2.5 03/15/27BRIDGEBIO PHARMA INC | 20,000 | $2.8B | 0.26% | |
| 65 | VRTXVERTEX PHARMACEUTICALS INC | 7,000 | $2.7B | 0.26% | |
| 66 | ACLXARCELLX INC | 31,484 | $2.6B | 0.24% | |
| 67 | BIIBBIOGEN INC | 18,000 | $2.5B | 0.24% | |
| 68 | DCTHDELCATH SYS INC | 224,385 | $2.4B | 0.23% | |
| 69 | RNAAVIDITY BIOSCIENCES INC | 53,656 | $2.3B | 0.22% | |
| 70 | MDGLMADRIGAL PHARMACEUTICALS INC | 4,895 | $2.2B | 0.21% | |
| 71 | ASPCRA SPAC III ACQUISITION CORP | 215,000 | $2.2B | 0.21% | |
| 72 | 3M4MASIMO CORP | 15,000 | $2.2B | 0.21% | |
| 73 | VRDNVIRIDIAN THERAPEUTICS INC | 101,704 | $2.2B | 0.21% | |
| 74 | SMMTSUMMIT THERAPEUTICS INC | 102,969 | $2.1B | 0.20% | |
| 75 | CDTXCIDARA THERAPEUTICS INC | 21,522 | $2.1B | 0.19% | |
| 76 | RGNXREGENXBIO INC | 205,409 | $2.0B | 0.19% | |
| 77 | KRROKORRO BIO INC | 40,235 | $1.9B | 0.18% | |
| 78 | RCKTROCKET PHARMACEUTICALS INC | 575,800 | $1.9B | 0.18% | |
| 79 | OABIOMNIAB INC | 1,090,628 | $1.7B | 0.16% | |
| 80 | ARWRARROWHEAD PHARMACEUTICALS IN | 49,800 | $1.7B | 0.16% | |
| 81 | SLNOSOLENO THERAPEUTICS INC | 25,230 | $1.7B | 0.16% | |
| 82 | DVAXDYNAVAX TECHNOLOGIES CORP | 170,000 | $1.7B | 0.16% | |
| 83 | ALKSALKERMES PLC | 56,200 | $1.7B | 0.16% | |
| 84 | GLUEMONTE ROSA THERAPEUTICS INC | 215,752 | $1.6B | 0.15% | |
| 85 | MRKMERCK & CO INC | 18,540 | $1.6B | 0.15% | |
| 86 | CCIICOHEN CIRCLE ACQUISIT CORP I | 150,000 | $1.5B | 0.14% | |
| 87 | ABOSACUMEN PHARMACEUTICALS INC | 891,183 | $1.5B | 0.14% | |
| 88 | XNCRXENCOR INC | 128,865 | $1.5B | 0.14% | |
| 89 | URGNUROGEN PHARMA LTD | 75,000 | $1.5B | 0.14% | Call |
| 90 | AGIOAGIOS PHARMACEUTICALS INC | 37,000 | $1.5B | 0.14% | |
| 91 | WWWW INTL INC | 52,450 | $1.4B | 0.13% | |
| 92 | CATBUSDASTRIA THERAPEUTICS INC | 193,934 | $1.4B | 0.13% | |
| 93 | CNTACENTESSA PHARMACEUTICALS PLC | 53,666 | $1.3B | 0.12% | |
| 94 | QNCXQUINCE THERAPEUTICS INC | 775,034 | $1.3B | 0.12% | |
| 95 | MLTXMOONLAKE IMMUNOTHERAPEUTICS | 168,495 | $1.2B | 0.11% | Call |
| 96 | PFEPFIZER INC | 44,400 | $1.1B | 0.11% | |
| 97 | GRCEGRACE THERAPEUTICS INC | 350,450 | $1.0B | 0.10% | |
| 98 | NUVLNUVALENT INC | 11,842 | $1.0B | 0.10% | |
| 99 | BSAABEST SPAC I ACQUISITION CORP | 100,000 | $1.0B | 0.10% | |
| 100 | EAELECTRONIC ARTS INC | 4,936 | $995.6M | 0.09% |
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