Managers / Q1 2026
ADAMS STREET PARTNERS LLC
CIK 0001193586 · ONE NORTH WACKER DRIVE, STE 2700, CHICAGO, IL, 60606-2807 · 312-553-8486
Summary
Adams Street Partners LLC reported $260M in U.S.-listed holdings across 3 positions for Q1 2026.
The portfolio is heavily concentrated: BLLN alone accounts for 51.9% of reported value.
Compared with Q4 2025, the fund opened 0 new positions and exited 2.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 100.0% · $260M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| PAYPaymentus Holdings, Inc. | SOLD OUT | −223.5K | 0 | −$7M | $0 |
| CAICaris Life Sciences, Inc. | SOLD OUT | −4.9K | 0 | −$132,040 | $0 |
| CRVSCorvus Pharmaceuticals, Inc. | HELD | +0 | 3.28M | +$23M | $48M |
| RMNIRimini Street, Inc. | HELD | +0 | 23.57M | −$14M | $77M |
| BLLNBillionToOne, Inc. | HELD | +0 | 1.71M | −$5M | $135M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BLLNBillionToOne, Inc.history → | Class A | 51.90% | $135M | 1.71M |
| 2 | RMNIRimini Street, Inc.history → | Common | 29.69% | $77M | 23.57M |
| 3 | CRVSCorvus Pharmaceuticals, Inc.history → | Common | 18.41% | $48M | 3.28M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $260M | 3 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $264M | 5 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $153M | 5 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $142M | 6 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $113M | 7 | May 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $113M | 6 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $182M | 6 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $243M | 9 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $252M | 12 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $325M | 14 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $286M | 14 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $382M | 18 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $321M | 13 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $300M | 16 | Feb 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $365M | 13 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $384M | 15 | Aug 17, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $540M | 17 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $655M | 26 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $779M | 26 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $481M | 18 | Aug 13, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $624M | 23 | May 10, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $481M | 15 | Feb 11, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $379M | 14 | Nov 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $484M | 11 | Aug 13, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $401M | 15 | May 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $490M | 17 | Feb 14, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $500M | 14 | Nov 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $539M | 14 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $517M | 17 | May 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $477M | 14 | Feb 12, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.