ADAR1 Capital Management, LLC Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$1.4T

Holdings

256

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (256 positions)

#StockSharesValue% PortfolioType
201
JBIOJADE BIOSCIENCES INC
21,000$324.0M0.02%
202
SGRYSURGERY PARTNERS INC
20,000$309.0M0.02%
203
JDJD.COM INC
10,000$287.0M0.02%
204
PCAPPROCAP ACQUISITION CORP
26,940$275.0M0.02%
205
DRUGBRIGHT MINDS BIOSCIENCES INC
3,500$273.0M0.02%
206
IDXXIDEXX LABS INC
400$270.0M0.02%
207
SPROSPERO THERAPEUTICS INC
113,839$265.0M0.02%
208
IMMXIMMIX BIOPHARMA INC
50,000$261.0M0.02%
209
CATXPERSPECTIVE THERAPEUTICS INC
95,193$261.0M0.02%
210
JSPRJASPER THERAPEUTICS INC
140,000$256.0M0.02%
211
SNDXSYNDAX PHARMACEUTICALS INC
12,000$252.0M0.02%
212
OGNORGANON & CO
35,000$250.0M0.02%
213
ANNXANNEXON INC
48,000$240.0M0.02%
214
PEPGPEPGEN INC
36,842$239.0M0.02%
215
EOLSEVOLUS INC
35,859$238.0M0.02%
216
SP4PACHIEVE LIFE SCIENCES INC
47,800$237.0M0.02%
217
RAREULTRAGENYX PHARMACEUTICAL IN
10,000$230.0M0.02%Call
218
BCAXBICARA THERAPEUTICS INC
13,705$230.0M0.02%
219
RXSTRXSIGHT INC
21,803$227.0M0.02%
220
MISTMILESTONE PHARMACEUTICALS IN
100,100$202.0M0.01%
221
WHWKWHITEHAWK THERAPEUTICS INC
77,593$187.0M0.01%
222
TRAWTRAWS PHARMA INC
154,431$174.0M0.01%
223
KALVKALVISTA PHARMACEUTICALS INC
10,000$161.0M0.01%
224
OTLKOUTLOOK THERAPEUTICS INC
100,000$158.0M0.01%Put
225
RLMDRELMADA THERAPEUTICS INC
30,866$149.0M0.01%
226
VYNEVYNE THERAPEUTICS INC
253,791$147.0M0.01%
227
SLNSILENCE THERAPEUTICS PLC
23,643$143.0M0.01%
228
RXRXRECURSION PHARMACEUTICALS IN
35,000$143.0M0.01%
229
VYGRVOYAGER THERAPEUTICS INC
35,000$137.0M0.01%
230
ZONECLEANCORE SOLUTIONS INC
521,980$135.0M0.01%
231
CMMBCHEMOMAB THERAPEUTICS LTD
80,000$132.0M0.01%
232
PMVPPMV PHARMACEUTICALS INC
101,008$126.0M0.01%
233
GBIOGENERATION BIO CO
22,144$125.0M0.01%
234
NEUPNEUPHORIA THERAPEUTICS INC
30,000$116.0M0.01%
235
CLOVCLOVER HEALTH INVESTMENTS CO
48,300$113.0M0.01%
236
ZNTLZENTALIS PHARMACEUTICALS INC
80,000$108.0M0.01%
237
BCABBIOATLA INC
183,107$103.0M0.01%
238
SABSSAB BIOTHERAPEUTICS INC
26,344$98.0M0.01%
239
STISOLIDION TECHNOLOGY INC
13,500$95.0M0.01%Call
240
KYNBFIBROGEN INC
10,469$91.0M0.01%
241
RZLTREZOLUTE INC
38,679$91.0M0.01%
242
PLRXPLIANT THERAPEUTICS INC
73,819$90.0M0.01%
243
NMRANEUMORA THERAPEUTICS INC.
50,600$90.0M0.01%
244
LITSLITE STRATEGY INC
67,292$88.0M0.01%
245
IRDOPUS GENETICS INC
40,000$80.0M0.01%
246
KALAKALA BIO INC
141,480$78.0M0.01%
247
VERUVERU INC
35,000$74.0M0.01%
248
QTTBQ32 BIO INC
20,000$66.0M0.00%
249
MREOMEREO BIOPHARMA GROUP PLC
150,000$62.0M0.00%
250
BMEABIOMEA FUSION INC
43,420$53.0M0.00%
251
ASPCRA SPAC III ACQUISITION CORP
215,000$40.0M0.00%
252
ATYRATYR PHARMA INC
50,685$39.0M0.00%
253
IVFINVO FERTILITY INC.
26,722$20.0M0.00%
254
PRQRPROQR THRAPEUTICS N V
10,000$20.0M0.00%
255
IOBTIO BIOTECH INC
24,964$15.0M0.00%
256
CHRSCOHERUS ONCOLOGY INC
10,366$14.0M0.00%
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