ADAR1 Capital Management, LLC
Q4 2025 13F-HR/A Holdings
Net value change ($000)
+297,029
(27.9%)
New positions
78
Sold out positions
26
Turnover %
12.5%
Sector allocation + QoQ delta (equities-only)
Snapshot: Change Analysis
Compared to Q3 2025
Methodology:
sector metrics are equities-only;
instrument mix chart is ex-options;
options exposure is shown separately.
Why this matters.
Top Adds (Value $000, Stocks/ETFs)
| ABVX | 62,963 | 54.9% |
| RNAM | 37,083 | 1586.1% |
| IMVT | 26,929 | 74.5% |
| PTGX | 25,923 | 39.5% |
| ROIV | 23,760 | 46.9% |
| TERN | 21,806 | 29074.7% |
| CLDX | 14,735 | 520.5% |
| ABUS | 12,866 | 97.6% |
| IVA | 12,601 | NEW |
| CDTX | 11,121 | 539.6% |
Top Reduces (Value $000, Stocks/ETFs)
| KROS | -84,874 | -99.5% |
| 89bio, Inc. | -31,063 | -100.0% |
| BIOA | -9,262 | -83.8% |
| Metsera, Inc. | -7,981 | -100.0% |
| RZLT | -7,579 | -98.8% |
| ZLAB | -7,454 | -25.3% |
| SRPT | -6,120 | -90.8% |
| VRNA | -5,490 | -100.0% |
| JANX | -5,192 | -60.5% |
| UTHR | -3,769 | -80.3% |
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000):
24,651
(1.8% of total reported value)
How this table is calculated:
SEC
VALUE ($000) is used as reported.
For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received.
Column % is bucket-based:
non-options share is calculated inside non-option total, options share is calculated inside options total.
Details.
Filter:
Instrument:
| Issuer Name | Ticker | Sector | Industry | Class | History | Value ($000) | % | Shares | Shares Δ | Shares Δ% | Value Δ ($000) | Value Δ% | Principal | Option Type |
|---|