ADAR1 Capital Management, LLC holds a diversified book of 294 reported positions worth $1.7B as of Q1 2026 (disclosed May 18, 2026, a ~48-day 13F lag). This quarter Helix Acquisition Corp-CL A first appears in 13F filings (one of 5 new listings in the book), a listing rather than a purchase; they opened Beam Therapeutics Inc and trimmed Protagonist Therapeutics Inc. Their largest long position is Abivax Sa-ADR at 9% of the reported non-option book. They also disclosed $12.5M in put options (a bearish bet) and $22.2M in call options (bullish), shown separately below and excluded from the non-option book. Cloning the disclosed picks since 2024 would be +133% (+38.6%/yr). That is a simulation of the disclosed long book, not audited returns.
The reported book (valued from quarter-end) returned +184.9%, a 52.4-point gap that is the cost of the ~48-day 13F disclosure lag a real follower can't avoid.
Growth of $10,000 cloning ADAR1 Capital Management, LLC's disclosed long 13F book, rebalanced on each filing date (so it reflects each quarter's actual reporting lag, ~48 days for the latest filing, with no look-ahead), total-return basis (dividends reinvested), derived from end-of-day prices. “Their reported book” values the same picks from quarter-end, before they were public. S&P 500 is SPY total return over the same window. Excludes shorts, cash, options and non-13F holdings. Not investment advice.
Top-heavy: diversified book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
89% mapped to company sectors
+5 sectors below the cut, 1% together
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices (an exit at the prior quarter-end), no cost basis
Other tracked managers holding the same core names as ADAR1 Capital Management, LLC
| Manager / fund | Shared names | Their $ in those |
|---|---|---|
| Patient Square Capital LP | 8 / 80 | $420.0M |
| First Turn Management, LLC | 13 / 80 | $511.4M |
| TCG Crossover Management, LLC | 12 / 80 | $2.0B |
| Kynam Capital Management, LP | 8 / 80 | $794.6M |
| Artia Global Partners LP | 13 / 80 | $227.4M |
| Affinity Asset Advisors, LLC | 32 / 80 | $779.3M |
| Act Capital Management, LLC | 9 / 80 | $61.0M |
| Superstring Capital Management LP | 11 / 80 | $62.8M |
Ranked by the share of each fund's own book sitting in the names it shares with ADAR1 Capital Management, LLC: only funds sharing at least a tenth of the book qualify. Index giants, bank custody books and market makers are excluded. They hold everything, so their overlap says nothing.
Bars show each position's share of the portfolio. Click a row for its position history.
| # | Security | Value | Shares | % Port | Last move | History |
|---|---|---|---|---|---|---|
| 1 | Abivax Sa SPONSORED ADS | $155.2M | 1.39M | 9.3% | ▲+5.8% Added · +77K sh | |
| 2 | Protagonist Therapeutics Inc COM | $104.8M | 994.1K | 6.3% | ▼−5.2% Reduced · −55K sh | |
| 3 | Roivant Sciences Ltd SHS | $91.0M | 3.29M | 5.5% | ▼−4.2% Reduced · −143K sh | |
| 4 | Immunovant Inc COM | $66.5M | 2.68M | 4.0% | ▲+8.0% Added · +198K sh | |
| 5 | State STR SPDR S&P 500 ETF T TR UNIT | $49.4M | 75.9K | 3.0% | ▲+39% Added · +21K sh | |
| 6 | Terns Pharmaceuticals Inc COM | $48.2M | 914.7K | 2.9% | ▲+69% Added · +373K sh | |
| 7 | Cytokinetics Inc COM NEW | $41.7M | 632.6K | 2.5% | ▲+17% Added · +92K sh | |
| 8 | Crinetics Pharmaceuticals In COM | $41.4M | 1.14M | 2.5% | ▲+268% Added · +830K sh | |
| 9 | Ea Series Trust ALPHA ARCH 1-3 | $39.2M | 337.1K | 2.4% | —Held | |
| 10 | Denali Therapeutics Inc COM | $35.9M | 1.87M | 2.2% | ▲36× Added · +1.8M sh | |
| 11 | Beam Therapeutics Inc COM | $34.5M | 1.45M | 2.1% | ▲New New position | |
| 12 | Zai Lab Ltd ADR | $26.8M | 1.43M | 1.6% | ▲+14% Added · +179K sh | |
| 13 | Septerna Inc COM | $26.2M | 1.09M | 1.6% | ▼−5.8% Reduced · −68K sh | |
| 14 | Vir Biotechnology Inc COM | $24.6M | 2.74M | 1.5% | ▲New New position | |
| 15 | DBV Technologies S A SPONSORED ADS | $21.2M | 1.01M | 1.3% | ▲New New position | |
| 16 | Anteris Technologies Global COM | $21.0M | 3.79M | 1.3% | ▲+206% Added · +2.6M sh | |
| 17 | Inspire Med Sys Inc COM | $20.9M | 405.2K | 1.3% | ▲27× Added · +390K sh | |
| 18 | Scholar Rock Hldg Corp COM | $20.0M | 407.3K | 1.2% | ▲+485% Added · +338K sh | |
| 19 | Rhythm Pharmaceuticals Inc COM | $18.4M | 211.4K | 1.1% | ▲+312% Added · +160K sh | |
| 20 | Spyre Therapeutics Inc COM NEW | $17.1M | 338.3K | 1.0% | ▲+894% Added · +304K sh | |
| 21 | Cytomx Therapeutics Inc. COM | $16.0M | 3.41M | 1.0% | ▼−18% Reduced · −773K sh | |
| 22 | Prothena Corp PLC SHS | $15.4M | 1.58M | 0.9% | ▲+8.5% Added · +124K sh | |
| 23 | Sanofi Sa SPONSORED ADR | $15.3M | 316.9K | 0.9% | ▲+399% Added · +253K sh | |
| 24 | Vaxcyte Inc COM | $15.1M | 259.1K | 0.9% | ▼−18% Reduced · −57K sh | |
| 25 | Monopar Therapeutics Inc COM NEW | $14.5M | 264.3K | 0.9% | ▲+13% Added · +30K sh | |
| 26 | Arbutus Biopharma Corp COM | $14.1M | 3.13M | 0.8% | ▼−42% Reduced · −2.3M sh | |
| 27 | Amylyx Pharmaceuticals Inc COM | $13.9M | 1.00M | 0.8% | ▲+12% Added · +110K sh | |
| 28 | Celldex Therapeutics Inc New COM NEW | $13.6M | 427.8K | 0.8% | ▼−34% Reduced · −219K sh | |
| 29 | Taysha Gene Therapies Inc COM SHS | $13.3M | 2.98M | 0.8% | ▲+19% Added · +484K sh | |
| 30 | Xenon Pharmaceuticals Inc COM | $13.3M | 228.9K | 0.8% | ▲+12% Added · +25K sh | |
| 31 | Sutro Biopharma Inc COM SHS | $13.1M | 524.4K | 0.8% | ▲+682% Added · +457K sh | |
| 32 | Revolution Medicines Inc COM | $13.0M | 133.9K | 0.8% | ▼−7.7% Reduced · −11K sh | |
| 33 | Enliven Therapeutics Inc COM | $12.9M | 329.5K | 0.8% | ▲11× Added · +300K sh | |
| 34 | CG Oncology Inc COM | $12.6M | 185.7K | 0.8% | ▼−28% Reduced · −72K sh | |
| 35 | SPDR Series Trust STATE STREET SPD | $12.4M | 135.6K | 0.7% | —Held | |
| 36 | Establishment Labs Hldgs Inc COM | $12.1M | 213.5K | 0.7% | ▲+25% Added · +42K sh | |
| 37 | Replimune Group Inc COM | $12.1M | 1.58M | 0.7% | ▲+28% Added · +342K sh | |
| 38 | Inventiva Sa ADS | $12.1M | 2.17M | 0.7% | ▼−20% Reduced · −535K sh | |
| 39 | Ionis Pharmaceuticals Inc COM | $12.0M | 160.3K | 0.7% | ▲+9.0% Added · +13K sh | |
| 40 | Nektar Therapeutics COM NEW | $11.6M | 161.3K | 0.7% | ▲+124% Added · +89K sh | |
| 41 | Inhibikase Therapeutics Inc COM NEW | $11.1M | 6.61M | 0.7% | ▼−18% Reduced · −1.5M sh | |
| 42 | Ars Pharmaceuticals Inc COM | $10.9M | 1.36M | 0.7% | ▲+268% Added · +992K sh | |
| 43 | Helix Acquisition Corp III USD CL A ORD SHS | $10.3M | 1.00M | 0.6% | →Listed Newly reportable | |
| 44 | Ovid Therapeutics Inc COM | $10.1M | 4.54M | 0.6% | ▲+6.0% Added · +259K sh | |
| 45 | Onkure Therapeutics Inc COM CL A | $10.1M | 2.43M | 0.6% | ▲+140% Added · +1.4M sh | |
| 46 | Regeneron Pharmaceuticals COM | $9.4M | 12.2K | 0.6% | ▲+0.8% Added · +103 sh | |
| 47 | Moonlake Immunotherapeutics CLASS A ORD | $8.5M | 457.1K | 0.5% | ▲New New position | |
| 48 | Lexeo Therapeutics Inc COM | $8.4M | 1.47M | 0.5% | ▲+5.3% Added · +74K sh | |
| 49 | Opus Genetics Inc COM | $8.4M | 1.85M | 0.5% | ▲46× Added · +1.8M sh | |
| 50 | Teva Pharmaceutical Inds Ltd SPONSORED ADS | $8.1M | 268.4K | 0.5% | ▲+14% Added · +32K sh |
This fund page is the Follow view. The Build view lets your agent pull holdings, quarter changes, overlap, and source filings through API or MCP.
curl -H "Authorization: Bearer YOUR_API_KEY" \ "https://arkolith.com/api/v1/funds/1940272/holdings"
Use Arkolith to show ADAR1 Capital Management, LLC's latest holdings, largest changes, and filing provenance.
Put / call positions from the 13F — totals include every disclosed option leg
| Type | Underlying | Notional value | Underlying shares |
|---|---|---|---|
| CALL · bullish | TERNS PHARMACEUTICALS INC430 | $10.5M | 200K |
| PUT · bearish | ISHARES RUSSELL 2000 ETFIWM | $6.8M | 28K |
| CALL · bullish | ABIVAX SA-ADRABVX | $4.9M | 44K |
| PUT · bearish | LIQUIDIA CORPLQDA | $3.8M | 100K |
| PUT · bearish | SS SPDR S&P BIOTECH ETFXBI | $1.9M | 15K |
| CALL · bullish | UNIQURE NVQURE | $1.6M | 100K |
| CALL · bullish | KARYOPHARM THERAPEUTICS INCKPTI | $1.1M | 205K |
| CALL · bullish | KEEN VISION ACQUISITION CORPKVAC | $900K | 75K |
| CALL · bullish | REPLIMUNE GROUP INCREPL | $765K | 100K |
| CALL · bullish | FRACTYL HEALTH INCGUTS | $654K | 1.4M |
| CALL · bullish | NOVO-NORDISK A/S-SPONS ADRNVO | $478K | 13K |
| CALL · bullish | ULTRAGENYX PHARMACEUTICAL INRARE | $419K | 20K |
| CALL · bullish | MOONLAKE IMMUNOTHERAPEUTICSMLTX | $373K | 20K |
| CALL · bullish | CORBUS PHARMACEUTICALS HOLDICRBP | $329K | 35K |
| CALL · bullish | SOLIDION TECHNOLOGY INCSTI | $85K | 14K |
| PUT · bearish | QUINCE THERAPEUTICS INC | $5K | 50K |
13F filers disclose option positions at the market value of the underlying the contracts reference, not the premium paid. A put is a bearish bet (it gains if the stock falls); a call is bullish. “Underlying shares” is the share count the contracts control, not a share holding. These legs are excluded from the non-option book, weighting, concentration and sector figures above.
As-of date vs the date the SEC received each filing
Reported 13F total per quarter. Raw filing totals can include option notional.
| Quarter | As of | Filed | Lag | Positions | Value | Form |
|---|---|---|---|---|---|---|
| Q1 2026 | Mar 31, 2026 | May 18, 2026 | 48d | 311 | $1.7B | 13F-HR |
| Q4 2025 | Dec 31, 2025 | Feb 18, 2026 | 49d | 270 | $1.4B | 13F-HR/A |
| Q3 2025 | Sep 30, 2025 | Nov 14, 2025 | 45d | 220 | $1.1B | 13F-HR |
| Q2 2025 | Jun 30, 2025 | Aug 14, 2025 | 45d | 210 | $652.1M | 13F-HR |
| Q1 2025 | Mar 31, 2025 | May 15, 2025 | 45d | 202 | $538.7M | 13F-HR |
| Q4 2024 | Dec 31, 2024 | Feb 13, 2025 | 44d | 214 | $500.4M | 13F-HR |
| Q3 2024 | Sep 30, 2024 | Nov 14, 2024 | 45d | 278 | $614.9M | 13F-HR |
| Q2 2024 | Jun 30, 2024 | Aug 13, 2024 | 44d | 266 | $529.7M | 13F-HR |
| Q1 2024 | Mar 31, 2024 | May 15, 2024 | 45d | 261 | $440.8M | 13F-HR |
| Q4 2023 | Dec 31, 2023 | Feb 14, 2024 | 45d | 170 | $279.8M | 13F-HR |
Holdings from SEC EDGAR 13F-HR filings, updated quarterly, filed up to 45 days after quarter-end. Public domain. Book totals and portfolio weights cover reported non-option positions, which can include notes and warrants. Disclosed put/call options are listed separately and excluded from those totals. The performance line is a simulation of the disclosed long book, not an audited return.