ADAR1 Capital Management, LLC

Portfolio Overview

ADAR1 Capital Management, LLC disclosed 310 positions worth $1.7B in its Form 13F-HR for Q1 2026 — $1.7B in common stock plus $34.7M of put/call option positions (reported at underlying notional value, not premium at risk), led by $ABVX (Abivax S.A.) at 9.3% of the equity portfolio, followed by $PTGX and $ROIV. During the quarter the fund opened 78 new positions and exited 40 — including a new stake in $BEAM and a full exit from $RAPT. The portfolio is most concentrated in Healthcare (89.7% of disclosed assets). All figures are sourced directly from ADAR1 Capital Management, LLC’s Form 13F-HR filing with the SEC under CIK 1940272.

• 

  Abivax S.A.

  $ABVX

  —

  Quality

  $155.2M1,394,019 sh
• 

  Protagonist Therapeutics, Inc

  $PTGX

  24.8#2,572

  Quality

  $104.8M994,119 sh
• 

  Roivant Sciences Ltd.

  $ROIV

  —

  Quality

  $91.0M3,285,906 sh
• 

  Immunovant, Inc.

  $IMVT

  —

  Quality

  $66.5M2,679,010 sh
• 

  SPDR S&P 500 ETF TRUST

  $SPY

  —

  Quality

  $49.4M75,940 sh
• 

  Terns Pharmaceuticals, Inc.

  $TERN

  —

  Quality

  $48.2M914,699 sh
• 

  CYTOKINETICS INC

  $CYTK

  28.0

  Quality

  $41.7M632,556 sh
• 

  Crinetics Pharmaceuticals, Inc.

  $CRNX

  26.5

  Quality

  $41.4M1,139,331 sh

• EA SERIES TRUST - ALPHA ARCH 1-3

  —

  Quality

  $39.2M337,125 sh
• 

  Denali Therapeutics Inc.

  $DNLI

  —

  Quality

  $35.9M1,871,455 sh

Company	Quality	Value	Shares
Abivax S.A.$ABVX	—	$155.2M	1,394,019
Protagonist Therapeutics, Inc$PTGX	24.8#2,572	$104.8M	994,119
Roivant Sciences Ltd.$ROIV	—	$91.0M	3,285,906
Immunovant, Inc.$IMVT	—	$66.5M	2,679,010
SPDR S&P 500 ETF TRUST$SPY	—	$49.4M	75,940
Terns Pharmaceuticals, Inc.$TERN	—	$48.2M	914,699
CYTOKINETICS INC$CYTK	28.0	$41.7M	632,556
Crinetics Pharmaceuticals, Inc.$CRNX	26.5	$41.4M	1,139,331
EA SERIES TRUST - ALPHA ARCH 1-3	—	$39.2M	337,125
Denali Therapeutics Inc.$DNLI	—	$35.9M	1,871,455

Showing top 10 of 310 holdings.

Full Holdings — ADAR1 Capital Management, LLC (Q1 2026)

All 310 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$ABVX	Abivax S.A.	$155.2M	9.3%	-47%	—
2	$PTGX	Protagonist Therapeutics, Inc	$104.8M	6.3%	-53%	24.8
3	$ROIV	Roivant Sciences Ltd.	$91.0M	5.5%	-52%	—
4	$IMVT	Immunovant, Inc.	$66.5M	4.0%	-46%	—
5	$SPY	SPDR S&P 500 ETF TRUST	$49.4M	3.0%	-31%	—
6	$TERN	Terns Pharmaceuticals, Inc.	$48.2M	2.9%	-16%	—
7	$CYTK	CYTOKINETICS INC	$41.7M	2.5%	-41%	28
8	$CRNX	Crinetics Pharmaceuticals, Inc.	$41.4M	2.5%	+84%	26.5
9	—	EA SERIES TRUST - ALPHA ARCH 1-3	$39.2M	2.4%	-50%	—
10	$DNLI	Denali Therapeutics Inc.	$35.9M	2.2%	+1695%	—
11	$BEAM	Beam Therapeutics Inc.	$34.5M	2.1%	NEW	12.1
12	$ZLAB	Zai Lab Ltd	$26.8M	1.6%	-43%	—
13	$SEPN	Septerna, Inc.	$26.2M	1.6%	-53%	44.6
14	$VIR	Vir Biotechnology, Inc.	$24.6M	1.5%	NEW	5.6
15	$DBVT	DBV Technologies S.A.	$21.2M	1.3%	NEW	6.1
16	$AVR	Anteris Technologies Global Corp.	$21.0M	1.3%	+53%	—
17	$INSP	Inspire Medical Systems, Inc.	$20.9M	1.3%	+1251%	46
18	$SRRK	Scholar Rock Holding Corp	$20.0M	1.2%	+193%	—
19	$RYTM	RHYTHM PHARMACEUTICALS, INC.	$18.4M	1.1%	+106%	30.3
20	$SYRE	Spyre Therapeutics, Inc.	$17.1M	1.0%	+397%	—
21	$CTMX	CytomX Therapeutics, Inc.	$16.0M	1.0%	-59%	19.1
22	—	PROTHENA CORP PLC - SHS	$15.4M	0.9%	-46%	—
23	$SNY	Sanofi	$15.3M	0.9%	+150%	—
24	$PCVX	Vaxcyte, Inc.	$15.1M	0.9%	-59%	—
25	$MNPR	Monopar Therapeutics	$14.5M	0.9%	-44%	—
26	$ABUS	Arbutus Biopharma Corp	$14.1M	0.8%	-71%	—
27	$AMLX	Amylyx Pharmaceuticals, Inc.	$13.9M	0.8%	-44%	—
28	$CLDX	Celldex Therapeutics, Inc.	$13.6M	0.8%	-67%	13.2
29	$TSHA	Taysha Gene Therapies, Inc.	$13.3M	0.8%	-40%	4.1
30	$XENE	Xenon Pharmaceuticals Inc.	$13.3M	0.8%	-44%	12.9
31	$STRO	SUTRO BIOPHARMA, INC.	$13.1M	0.8%	+291%	30.1
32	$RVMD	Revolution Medicines, Inc.	$13.0M	0.8%	-54%	—
33	$ELVN	Enliven Therapeutics, Inc.	$12.9M	0.8%	+449%	—
34	$CGON	CG Oncology, Inc.	$12.6M	0.8%	-64%	28
35	—	SPDR SERIES TRUST - STATE STREET SPD	$12.4M	0.8%	-50%	—
36	$ESTA	ESTABLISHMENT LABS HOLDINGS INC.	$12.1M	0.7%	-38%	26.7
37	$REPL	Replimune Group, Inc.	$12.1M	0.7%	-36%	—
38	$IVA	Inventiva S.A.	$12.1M	0.7%	-60%	—
39	$IONS	IONIS PHARMACEUTICALS INC	$12.0M	0.7%	-46%	37.1
40	$NKTR	NEKTAR THERAPEUTICS	$11.6M	0.7%	+12%	10.2
41	$IKT	Inhibikase Therapeutics, Inc.	$11.1M	0.7%	-59%	—
42	$SPRY	ARS Pharmaceuticals, Inc.	$10.9M	0.7%	+84%	29.7
43	$TERNCALL	Terns Pharmaceuticals, Inc.	$10.5M	—	NEW	—
44	—	HELIX ACQUISITION CORP III - USD CL A ORD SHS	$10.3M	0.6%	NEW	—
45	$OVID	Ovid Therapeutics Inc.	$10.1M	0.6%	-47%	13.1
46	$OKUR	OnKure Therapeutics, Inc.	$10.1M	0.6%	+20%	—
47	$REGN	REGENERON PHARMACEUTICALS, INC.	$9.4M	0.6%	-50%	75.1
48	$MLTX	MoonLake Immunotherapeutics	$8.5M	0.5%	NEW	—
49	$LXEO	Lexeo Therapeutics, Inc.	$8.4M	0.5%	-47%	—
50	$IRD	Opus Genetics, Inc.	$8.4M	0.5%	+2211%	—
51	$TEVA	TEVA PHARMACEUTICAL INDUSTRIES LTD	$8.1M	0.5%	-43%	—
52	$SVRA	Savara Inc	$8.0M	0.5%	-48%	—
53	$MPLT	MapLight Therapeutics, Inc.	$7.6M	0.5%	NEW	—
54	$LONA	LeonaBio, Inc.	$7.5M	0.5%	-8%	—
55	$EQ	Equillium, Inc.	$7.5M	0.5%	-67%	27.2
56	$VKTX	Viking Therapeutics, Inc.	$7.4M	0.5%	+330%	—
57	$DMRA	Damora Therapeutics, Inc.	$7.2M	0.4%	NEW	—
58	$URGN	UroGen Pharma Ltd.	$7.1M	0.4%	+58%	—
59	$BBIO	BridgeBio Pharma, Inc.	$7.0M	0.4%	-78%	31.7
60	$PRME	Prime Medicine, Inc.	$6.9M	0.4%	NEW	11.2
61	—	ISHARES TR - RUSSELL 2000 ETF	$6.8M	—	-50%	—
62	$VRTX	VERTEX PHARMACEUTICALS INC / MA	$6.7M	0.4%	-45%	76.6
63	$KRRO	Korro Bio, Inc.	$6.1M	0.4%	NEW	5.8
64	$VRDN	Viridian Therapeutics, Inc.\DE	$6.0M	0.4%	+97%	30.5
65	$DHR	DANAHER CORP /DE/	$5.9M	0.3%	-40%	63.9
66	$INSM	INSMED Inc	$5.8M	0.3%	NEW	29.4
67	$ASND	Ascendis Pharma A/S	$5.7M	0.3%	-51%	41.5
68	$BHF	Brighthouse Financial, Inc.	$5.7M	0.3%	-50%	54.9
69	$SRPT	Sarepta Therapeutics, Inc.	$5.7M	0.3%	+354%	41.6
70	$OACC	Oaktree Acquisition Corp. III Life Sciences	$5.5M	0.3%	-50%	—
71	$PCSC	Perceptive Capital Solutions Corp	$5.5M	0.3%	-79%	—
72	$KRYS	Krystal Biotech, Inc.	$5.2M	0.3%	-50%	75.9
73	$ABOS	Acumen Pharmaceuticals, Inc.	$5.1M	0.3%	+21%	—
74	$IVVD	Invivyd, Inc.	$5.0M	0.3%	-51%	25.7
75	$BBIO	BridgeBio Pharma, Inc.	$4.9M	0.3%	NEW	31.7
76	—	BHAV ACQUISITION CORP - UNIT 03/18/2031	$4.9M	0.3%	NEW	—
77	$TARA	Protara Therapeutics, Inc.	$4.9M	0.3%	-59%	—
78	$ABVXCALL	Abivax S.A.	$4.9M	—	NEW	—
79	—	BRIDGEBIO PHARMA INC - NOTE 1.750% 3/0	$4.9M	0.3%	NEW	—
80	$AGIO	AGIOS PHARMACEUTICALS, INC.	$4.8M	0.3%	-63%	26.3
81	$LLY	ELI LILLY & Co	$4.7M	0.3%	NEW	89.3
82	$DNTH	Dianthus Therapeutics, Inc. /DE/	$4.6M	0.3%	NEW	26.8
83	$ARWR	ARROWHEAD PHARMACEUTICALS, INC.	$4.4M	0.3%	-40%	74.4
84	$BLTE	BELITE BIO, INC	$4.3M	0.3%	-66%	—
85	$EVMN	Evommune, Inc.	$4.2M	0.3%	-50%	—
86	$MLYS	Mineralys Therapeutics, Inc.	$4.2M	0.3%	-43%	—
87	$JANX	Janux Therapeutics, Inc.	$4.1M	0.3%	-39%	24.8
88	$CLYM	Climb Bio, Inc.	$4.1M	0.3%	-79%	—
89	$PALI	PALISADE BIO, INC.	$4.0M	0.2%	-44%	—
90	$AEXA	American Exceptionalism Acquisition Corp. A	$3.9M	0.2%	-50%	—
91	$SPRB	SPRUCE BIOSCIENCES, INC.	$3.8M	0.2%	-49%	—
92	$NAMS	NewAmsterdam Pharma Co N.V.	$3.8M	0.2%	-50%	—
93	$LQDAPUT	Liquidia Corp	$3.8M	—	+104%	37.4
94	$ZURA	Zura Bio Ltd	$3.8M	0.2%	-44%	—
95	$ACLX	Arcellx, Inc.	$3.7M	0.2%	-49%	6.7
96	$CTNM	Contineum Therapeutics, Inc.	$3.6M	0.2%	-50%	—
97	$BBIO	BridgeBio Pharma, Inc.	$3.6M	0.2%	NEW	31.7
98	$GLUE	Monte Rosa Therapeutics, Inc.	$3.5M	0.2%	-50%	18.1
99	$ONC	BeOne Medicines Ltd.	$3.5M	0.2%	NEW	—
100	$TENX	TENAX THERAPEUTICS, INC.	$3.4M	0.2%	+68%	—
101	$AVBP	ArriVent BioPharma, Inc.	$3.3M	0.2%	NEW	—
102	$PLRX	PLIANT THERAPEUTICS, INC.	$3.3M	0.2%	+1651%	—
103	$ATAI	Atai Beckley N.V.	$3.2M	0.2%	-50%	—
104	$RLMD	RELMADA THERAPEUTICS, INC.	$3.1M	0.2%	+632%	—
105	$CATX	Perspective Therapeutics, Inc.	$3.1M	0.2%	+294%	—
106	$CRBP	Corbus Pharmaceuticals Holdings, Inc.	$3.1M	0.2%	-42%	—
107	$ELDN	Eledon Pharmaceuticals, Inc.	$3.0M	0.2%	-73%	—
108	$PHVS	Pharvaris N.V.	$3.0M	0.2%	-38%	—
109	$APLS	Apellis Pharmaceuticals, Inc.	$2.9M	0.2%	+81%	63.9
110	$EWTX	Edgewise Therapeutics, Inc.	$2.9M	0.2%	-50%	—
111	$PEPG	PepGen Inc.	$2.8M	0.2%	+2082%	—
112	$CAPR	CAPRICOR THERAPEUTICS, INC.	$2.8M	0.2%	NEW	—
113	$MASI	MASIMO CORP	$2.7M	0.2%	-50%	47.1
114	$INO	INOVIO PHARMACEUTICALS, INC.	$2.6M	0.1%	-51%	—
115	$TFX	TELEFLEX INC	$2.5M	0.1%	-87%	30.5
116	$DRUG	BRIGHT MINDS BIOSCIENCES INC.	$2.5M	0.1%	+384%	—
117	$BIOA	BioAge Labs, Inc.	$2.4M	0.1%	-50%	28.6
118	$ALEC	Alector, Inc.	$2.3M	0.1%	-53%	8.9
119	$PFE	PFIZER INC	$2.2M	0.1%	-47%	69
120	$DCTH	DELCATH SYSTEMS, INC.	$2.1M	0.1%	-50%	54.9
121	$BIIB	BIOGEN INC.	$2.0M	0.1%	-77%	65.6
122	$CNTB	Connect Biopharma Holdings Ltd	$1.9M	0.1%	NEW	—
123	—	SPDR SERIES TRUST - STATE STREET SPD	$1.9M	—	NEW	—
124	$SMMT	Summit Therapeutics Inc.	$1.7M	0.1%	-50%	—
125	$GMED	GLOBUS MEDICAL INC	$1.7M	0.1%	-50%	77.6
126	$ALKS	Alkermes plc.	$1.6M	0.1%	-64%	—
127	$QURECALL	uniQure N.V.	$1.6M	—	+67%	—
128	$SLNO	SOLENO THERAPEUTICS INC	$1.6M	0.1%	-44%	46.3
129	$CCII	Cohen Circle Acquisition Corp. II	$1.6M	0.1%	-50%	—
130	$RCKT	ROCKET PHARMACEUTICALS, INC.	$1.5M	0.1%	-55%	—
131	$SUPN	SUPERNUS PHARMACEUTICALS, INC.	$1.5M	0.1%	-50%	45.3
132	$CNTA	Centessa Pharmaceuticals plc	$1.5M	0.1%	-50%	—
133	$FOLD	AMICUS THERAPEUTICS, INC.	$1.5M	0.1%	NEW	44.2
134	$MAZE	Maze Therapeutics, Inc.	$1.5M	0.1%	-86%	19.7
135	$UNH	UNITEDHEALTH GROUP INC	$1.5M	0.1%	NEW	66.8
136	$ADGM	Adagio Medical Holdings, Inc.	$1.4M	0.1%	-48%	—
137	$FWRD	FORWARD AIR CORP	$1.3M	0.1%	+47%	52.4
138	$SXT	SENSIENT TECHNOLOGIES CORP	$1.3M	0.1%	NEW	57.3
139	$KNSA	Kiniksa Pharmaceuticals International, plc	$1.3M	0.1%	-53%	—
140	$CRVS	Corvus Pharmaceuticals, Inc.	$1.3M	0.1%	-91%	—
141	$MSLE	Satellos Bioscience Inc.	$1.3M	0.1%	NEW	—
142	$QURE	uniQure N.V.	$1.2M	0.1%	-84%	—
143	$NVO	NOVO NORDISK A S	$1.2M	0.1%	NEW	—
144	$PMN	ProMIS Neurosciences Inc.	$1.2M	0.1%	NEW	—
145	$LXRX	LEXICON PHARMACEUTICALS, INC.	$1.2M	0.1%	NEW	33.1
146	$SDGR	Schrodinger, Inc.	$1.2M	0.1%	NEW	31
147	$KPTICALL	Karyopharm Therapeutics Inc.	$1.1M	—	NEW	20.4
148	$XNCR	Xencor Inc	$1.1M	0.1%	-17%	13.1
149	$OABI	OmniAb, Inc.	$1.1M	0.1%	-50%	9.7
150	$FDMT	4D Molecular Therapeutics, Inc.	$1.1M	0.1%	-50%	23.2
151	$KROS	Keros Therapeutics, Inc.	$1.1M	0.1%	+158%	57.2
152	$DAWN	Day One Biopharmaceuticals, Inc.	$1.1M	0.1%	NEW	42.6
153	$BMY	BRISTOL MYERS SQUIBB CO	$1.1M	0.1%	-56%	70.1
154	$TNGX	Tango Therapeutics, Inc.	$1.0M	0.1%	-82%	26.9
155	$TNYA	Tenaya Therapeutics, Inc.	$1.0M	0.1%	-50%	—
156	$BSAA	BEST SPAC I Acquisition Corp.	$1.0M	0.1%	-50%	—
157	$MCK	MCKESSON CORP	$1.0M	0.1%	-50%	63.7
158	$BMRN	BIOMARIN PHARMACEUTICAL INC	$1.0M	0.1%	-29%	74.1
159	—	ARROWHEAD PHARMACEUTICALS IN - NOTE 1/1	$1.0M	0.1%	NEW	—
160	$ORKA	Oruka Therapeutics, Inc.	$1.0M	0.1%	-50%	—
161	$EA	ELECTRONIC ARTS INC.	$1.0M	0.1%	-50%	71.1
162	$FULC	Fulcrum Therapeutics, Inc.	$1.0M	0.1%	-95%	—
163	$BCRX	BIOCRYST PHARMACEUTICALS INC	$999,600	0.1%	+17%	37.2
164	$GH	Guardant Health, Inc.	$923,700	0.1%	-29%	36.1
165	$CBIO	CRESCENT BIOPHARMA, INC.	$923,515	0.1%	-96%	28
166	$CNTX	Context Therapeutics Inc.	$919,866	0.1%	-50%	—
167	$ENGN	enGene Therapeutics Inc.	$910,402	0.1%	-78%	—
168	$SLN	Silence Therapeutics plc	$907,267	0.1%	+264%	—
169	$ARE	ALEXANDRIA REAL ESTATE EQUITIES, INC.	$905,190	0.1%	-40%	45.1
170	$KVACCALL	Keen Vision Acquisition Corp.	$900,000	—	-50%	—
171	$IBIO	iBio, Inc.	$892,768	0.1%	-42%	—
172	$BNTX	BioNTech SE	$888,800	0.1%	-50%	—
173	$GILD	GILEAD SCIENCES, INC.	$885,139	0.1%	-52%	77.8
174	$NRIX	Nurix Therapeutics, Inc.	$869,085	0.1%	-61%	13.2
175	$DYN	Dyne Therapeutics, Inc.	$860,504	0.1%	-44%	—
176	$ISRG	INTUITIVE SURGICAL INC	$843,612	0.1%	-10%	81.4
177	$ANL	Adlai Nortye Ltd.	$815,930	0.1%	NEW	—
178	$WW	WW INTERNATIONAL, INC.	$792,798	0.1%	-49%	26.4
179	$RNA	Avidity Biosciences, Inc.	$771,000	0.1%	-95%	22.3
180	$ITGR	Integer Holdings Corp	$770,000	0.1%	NEW	50.2
181	$REPLCALL	Replimune Group, Inc.	$765,000	—	+100%	—
182	$KPTI	Karyopharm Therapeutics Inc.	$761,620	0.1%	+37%	20.4
183	$CMPX	Compass Therapeutics, Inc.	$735,310	0.0%	-50%	—
184	$NUVL	Nuvalent, Inc.	$711,208	0.0%	-49%	—
185	$CGEM	Cullinan Therapeutics, Inc.	$710,500	0.0%	-50%	—
186	$IDYA	IDEAYA Biosciences, Inc.	$666,400	0.0%	-50%	10.5
187	$GUTSCALL	FRACTYL HEALTH, INC.	$654,000	—	-50%	—
188	$ENTA	ENANTA PHARMACEUTICALS INC	$648,639	0.0%	-38%	15.5
189	$VERA	Vera Therapeutics, Inc.	$645,008	0.0%	-46%	—
190	$VYNE	VYNE Therapeutics Inc.	$635,680	0.0%	+110%	—
191	$BSX	BOSTON SCIENTIFIC CORP	$627,500	0.0%	+0%	79.9
192	$AVTR	Avantor, Inc.	$627,200	0.0%	-43%	38.4
193	$ARVN	ARVINAS, INC.	$610,465	0.0%	-50%	13.9
194	$KZR	Kezar Life Sciences, Inc.	$607,943	0.0%	-65%	—
195	$KLRS	Kalaris Therapeutics, Inc.	$577,000	0.0%	-50%	—
196	$MIRM	Mirum Pharmaceuticals, Inc.	$572,756	0.0%	NEW	32.7
197	$JAZZ	Jazz Pharmaceuticals plc	$567,150	0.0%	-81%	—
198	$ASMB	ASSEMBLY BIOSCIENCES, INC.	$553,529	0.0%	-49%	26.6
199	$PRLD	Prelude Therapeutics Inc	$522,662	0.0%	NEW	27
200	$GTERA	Globa Terra Acquisition Corp	$518,000	0.0%	-50%	—
201	$WT	WisdomTree, Inc.	$503,400	0.0%	-50%	62.9
202	$ACRS	Aclaris Therapeutics, Inc.	$496,598	0.0%	-89%	9.2
203	$PRAX	Praxis Precision Medicines, Inc.	$483,285	0.0%	-50%	—
204	$LUNG	Pulmonx Corp	$483,101	0.0%	-47%	23.9
205	$ELAN	Elanco Animal Health Inc	$478,600	0.0%	-50%	52.2
206	$NVOCALL	NOVO NORDISK A S	$477,750	—	NEW	—
207	$PHAT	Phathom Pharmaceuticals, Inc.	$476,619	0.0%	-50%	32.5
208	$MDGL	MADRIGAL PHARMACEUTICALS, INC.	$468,506	0.0%	-50%	25.4
209	$PYPD	PolyPid Ltd.	$455,301	0.0%	-50%	—
210	$BABA	Alibaba Group Holding Ltd	$448,896	0.0%	-50%	—
211	$CORZ	Core Scientific, Inc./tx	$448,800	0.0%	-50%	14
212	$WHWK	Whitehawk Therapeutics, Inc.	$443,335	0.0%	-17%	9.6
213	$NTRA	Natera, Inc.	$429,379	0.0%	-50%	46.4
214	$VTGN	Vistagen Therapeutics, Inc.	$429,277	0.0%	-40%	—
215	$TXMD	TherapeuticsMD, Inc.	$422,604	0.0%	-50%	—
216	$RARECALL	Ultragenyx Pharmaceutical Inc.	$419,000	—	+0%	31
217	$SNDX	Syndax Pharmaceuticals Inc	$408,800	0.0%	-27%	30
218	$TECX	Tectonic Therapeutic, Inc.	$401,861	0.0%	-78%	—
219	$TRDA	Entrada Therapeutics, Inc.	$384,910	0.0%	NEW	8.5
220	$BHVN	Biohaven Ltd.	$378,813	0.0%	-35%	—
221	$MRK	Merck & Co., Inc.	$377,711	0.0%	-84%	70.9
222	$VSTM	Verastem, Inc.	$376,830	0.0%	NEW	40.8
223	$MLTXCALL	MoonLake Immunotherapeutics	$372,800	—	NEW	—
224	$RGNX	REGENXBIO Inc.	$372,206	0.0%	-85%	26.9
225	$ACET	Adicet Bio, Inc.	$366,562	0.0%	-79%	—
226	$LEGN	Legend Biotech Corp	$361,800	0.0%	NEW	44.2
227	$SRZN	Surrozen, Inc./DE	$349,560	0.0%	NEW	—
228	$ZNTL	Zentalis Pharmaceuticals, Inc.	$338,448	0.0%	-10%	—
229	$BCYC	BICYCLE THERAPEUTICS PLC	$330,823	0.0%	NEW	—
230	$NBIX	NEUROCRINE BIOSCIENCES INC	$329,350	0.0%	NEW	75.4
231	$CRBPCALL	Corbus Pharmaceuticals Holdings, Inc.	$328,650	—	NEW	—
232	$WVE	Wave Life Sciences Ltd.	$325,525	0.0%	NEW	—
233	$KURA	Kura Oncology, Inc.	$325,200	0.0%	-50%	9.1
234	$KPRX	KIORA PHARMACEUTICALS INC	$324,126	0.0%	-50%	—
235	$CORT	CORCEPT THERAPEUTICS INC	$322,480	0.0%	NEW	55.4
236	$UPB	Upstream Bio, Inc.	$315,000	0.0%	NEW	22.6
237	$KIDS	ORTHOPEDIATRICS CORP	$314,940	0.0%	-50%	33.4
238	$ANNX	Annexon, Inc.	$304,700	0.0%	-43%	—
239	$GERN	GERON CORP	$298,000	0.0%	-70%	—
240	$JD	JD.com, Inc.	$295,700	0.0%	-50%	—
241	$PMVP	PMV Pharmaceuticals, Inc.	$286,450	0.0%	+14%	—
242	$TRAW	Traws Pharma, Inc.	$281,999	0.0%	-50%	—
243	$JBIO	Jade Biosciences, Inc.	$281,000	0.0%	-52%	—
244	$RARE	Ultragenyx Pharmaceutical Inc.	$280,730	0.0%	NEW	31
245	$PCAP	ProCap Acquisition Corp	$278,560	0.0%	-50%	—
246	$BCAX	Bicara Therapeutics Inc.	$272,592	0.0%	-50%	—
247	$RXST	RxSight, Inc.	$266,420	0.0%	-1%	32
248	$PANW	Palo Alto Networks Inc	$256,512	0.0%	NEW	66.5
249	$NTLA	Intellia Therapeutics, Inc.	$250,208	0.0%	NEW	24.5
250	$CRWD	CrowdStrike Holdings, Inc.	$249,862	0.0%	NEW	55
251	$RBRK	Rubrik, Inc.	$239,953	0.0%	NEW	49.5
252	$RPRX	Royalty Pharma plc	$239,850	0.0%	NEW	—
253	$SGRY	Surgery Partners, Inc.	$238,400	0.0%	-50%	48
254	$LRMR	Larimar Therapeutics, Inc.	$237,353	0.0%	-86%	—
255	$EOLS	Evolus, Inc.	$229,580	0.0%	-22%	30
256	$QTTB	Q32 Bio Inc.	$224,700	0.0%	-13%	23.1
257	$LGVN	Longeveron Inc.	$208,000	0.0%	NEW	—
258	$ANAB	ANAPTYSBIO, INC	$205,091	0.0%	NEW	29.4
259	—	CANTOR EQUITY PARTNERS VI IN - CL A ORD SHS	$202,000	0.0%	NEW	—
260	$KALV	KalVista Pharmaceuticals, Inc.	$201,300	0.0%	-50%	25.9
261	$KYTX	Kyverna Therapeutics, Inc.	$193,554	0.0%	-80%	—
262	$NUVB	Nuvation Bio Inc.	$186,615	0.0%	NEW	29.5
263	$BNTC	Benitec Biopharma Inc.	$186,375	0.0%	NEW	—
264	$LPCN	Lipocine Inc.	$185,208	0.0%	NEW	—
265	$RLYB	Rallybio Corp	$184,199	0.0%	NEW	—
266	$RZLT	Rezolute, Inc.	$178,971	0.0%	-24%	—
267	$QCLS	Q/C TECHNOLOGIES, INC.	$172,500	0.0%	NEW	—
268	$ERAS	Erasca, Inc.	$161,800	0.0%	NEW	—
269	$COYA	Coya Therapeutics, Inc.	$161,146	0.0%	NEW	—
270	$PSNL	Personalis, Inc.	$159,250	0.0%	NEW	15.7
271	$SIBN	SI-BONE, Inc.	$158,885	0.0%	NEW	37.7
272	$TOI	Oncology Institute, Inc.	$153,500	0.0%	NEW	37.8
273	$HELP	CYBIN INC.	$150,134	0.0%	-93%	—
274	$STIM	Neuronetics, Inc.	$145,000	0.0%	NEW	31.3
275	$ARDX	ARDELYX, INC.	$143,161	0.0%	NEW	35.3
276	$IFRX	InflaRx N.V.	$141,558	0.0%	NEW	—
277	$ACHV	ACHIEVE LIFE SCIENCES, INC.	$140,532	0.0%	-50%	—
278	$VYGR	Voyager Therapeutics, Inc.	$135,100	0.0%	-50%	5.5
279	$CMMB	Chemomab Therapeutics Ltd.	$125,600	0.0%	-50%	—
280	$JSPR	Jasper Therapeutics, Inc.	$122,668	0.0%	-50%	—
281	$NEUP	Neuphoria Therapeutics Inc.	$122,100	0.0%	-50%	—
282	$MIST	Milestone Pharmaceuticals Inc.	$119,000	0.0%	-50%	—
283	$ARCT	Arcturus Therapeutics Holdings Inc.	$115,800	0.0%	NEW	12
284	$MGNX	MACROGENICS INC	$115,600	0.0%	NEW	31.7
285	$CCCC	C4 Therapeutics, Inc.	$113,090	0.0%	NEW	6.5
286	$RXRX	RECURSION PHARMACEUTICALS, INC.	$107,450	0.0%	-50%	13.6
287	$DSGN	Design Therapeutics, Inc.	$106,400	0.0%	NEW	—
288	$GOSS	Gossamer Bio, Inc.	$94,454	0.0%	-32%	27.1
289	$IMMX	Immix Biopharma, Inc.	$91,100	0.0%	-90%	—
290	$STICALL	Solidion Technology Inc.	$85,185	—	-50%	—
291	$LITS	Lite Strategy, Inc.	$78,059	0.0%	-50%	—
292	$VERU	VERU INC.	$77,350	0.0%	-50%	—
293	$KYNB	KYNTRA BIO, INC.	$70,980	0.0%	-50%	60.7
294	$CLOV	CLOVER HEALTH INVESTMENTS, CORP. /DE	$70,400	0.0%	-59%	55
295	$BMEA	Biomea Fusion, Inc.	$66,433	0.0%	-50%	—
296	$NMRA	Neumora Therapeutics, Inc.	$64,545	0.0%	-67%	—
297	$OGN	Organon & Co.	$59,900	0.0%	-86%	55.1
298	$ESPR	Esperion Therapeutics, Inc.	$58,636	0.0%	NEW	34.3
299	$MREO	Mereo BioPharma Group plc	$49,500	0.0%	-50%	—
300	$ANTX	AN2 Therapeutics, Inc.	$47,405	0.0%	NEW	—
301	—	A SPAC III ACQUISITION CORP - RIGHT 01/02/2026	$42,441	0.0%	-50%	—
302	$AQST	Aquestive Therapeutics, Inc.	$41,500	0.0%	NEW	11.7
303	$ATYR	aTYR PHARMA INC	$39,534	0.0%	-50%	—
304	$BCAB	BioAtla, Inc.	$36,725	0.0%	-38%	—
305	$KALA	KALA BIO, Inc.	$24,490	0.0%	-50%	—
306	$CHRS	Coherus Oncology, Inc.	$17,519	0.0%	-50%	42.9
307	$PRQR	ProQR Therapeutics N.V.	$16,200	0.0%	-50%	—
308	$QNCX	Quince Therapeutics, Inc.	$5,080	0.0%	-42%	—
309	$QNCXPUT	Quince Therapeutics, Inc.	$5,070	—	-69%	—
310	$IMUX	IMMUNIC, INC.	$0	0.0%	NEW	—