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VR Adviser Portfolio holdings
AUM
$3.3B
1-Year Est. Return
525.74%
This Fund
S&P 500
This Quarter
Est. Return
+43.57%
1 Year Est. Return
+525.74%
3 Year Est. Return
+1,698.15%
5 Year Est. Return
+4,881.86%
10 Year Est. Return
–
AUM
$3.3B
AUM Growth
+$619M
(+23%)
Cap. Flow
-$260M
Cap. Flow
% of AUM
-7.9%
Top 10 Holdings %
Top 10 Hldgs %
80.39%
Holding
37
New
4
Increased
5
Reduced
5
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Erasca
ERAS
|
+$21.6M |
| 2 |
PBLS
Parabilis Medicines Inc
PBLS
|
+$17.3M |
| 3 |
Relmada Therapeutics
RLMD
|
+$14M |
| 4 |
Achieve Life Sciences
ACHV
|
+$13.1M |
| 5 |
X4 Pharmaceuticals
XFOR
|
+$6.58M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
KALV
KalVista Pharmaceuticals
KALV
|
+$130M |
| 2 |
Spyre Therapeutics
SYRE
|
+$51.1M |
| 3 |
Enliven Therapeutics
ELVN
|
+$50.9M |
| 4 |
enGene Therapeutics
ENGN
|
+$32.5M |
| 5 |
Tenax Therapeutics
TENX
|
+$26.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.9% |
| 2 | Financials | 0.1% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Achieve Life Sciences
ACHV
$874M
| $18M | 0.54% |
+2,751,032
| New | +$13.1M |
|
|
PBLS
27
Parabilis Medicines Inc
PBLS
$4.99B
| $17.1M | 0.52% |
+625,000
| New | +$17.3M |
|
28
Surrozen
SRZN
$268M
| $16.4M | 0.5% |
632,931
| – | – |
|
29
Korro Bio
KRRO
$180M
| $13.3M | 0.4% |
1,009,500
| – | – |
|
30
Alto Neuroscience
ANRO
$1.4B
| $13.2M | 0.4% |
500,000
| – | – |
|
|
31
X4 Pharmaceuticals
XFOR
$401M
| $9.03M | 0.27% |
1,934,253
+1,603,728
| +485% | +$6.58M |
|
|
RACC
32
Research Alliance Corp III
RACC
$104M
| $3.21M | 0.1% |
+300,000
| New | +$3.13M |
|
33
InMed Pharmaceuticals
INM
$7.37M
| $50.7K | ﹤0.01% |
+32,685
| New | +$36.1K |
|
|
34
enGene Therapeutics
ENGN
$122M
| – | – |
-4,771,414
| Closed | -$32.5M |
|
|
KALV
35
DELISTED
KalVista Pharmaceuticals
KALV
| – | – |
-6,474,485
| Closed | -$130M |
|
|
36
Tenax Therapeutics
TENX
$72.6M
| – | – |
-1,675,262
| Closed | -$26.8M |
|
|
SEPN
37
Septerna Inc
SEPN
$1.72B
| – | – |
-506,056
| Closed | -$12.2M |
|
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VR Adviser's Q2 2026 Portfolio in Review
As of Q2 2026, VR Adviser held 37 positions worth $3.3B, up 23% from $2.68B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
VR Adviser withdrew a net $260M in Q2 2026, closing 4 positions and reducing 5 holdings. Its most notable exit was KalVista Pharmaceuticals, an estimated $130M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, down from 100% a quarter earlier, followed by Financials.
Against the trend, VR Adviser opened a new position in Parabilis Medicines Inc worth $17.1M.
- VR Adviser's largest Q2 2026 buy was Parabilis Medicines Inc: 625,000 shares worth $17.1M.
- VR Adviser added most to Erasca in Q2 2026, an estimated $21.6M increase.
- VR Adviser's biggest Q2 2026 reduction was Spyre Therapeutics, cutting an estimated $51.1M.
- VR Adviser fully exited KalVista Pharmaceuticals in Q2 2026, selling an estimated $130M.
- VR Adviser's ten largest holdings make up 80% of its $3.3B portfolio in Q2 2026.
- VR Adviser opened 4 new positions and closed 4 in Q2 2026.
- VR Adviser's portfolio value rose 23% quarter-over-quarter to $3.3B.
Based on VR Adviser's 13F filing for Q2 2026, filed 14 Aug 2026.