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VR Adviser Portfolio holdings
AUM
$2.68B
1-Year Est. Return
422.73%
This Fund
S&P 500
This Quarter
Est. Return
+19.93%
1 Year Est. Return
+422.73%
3 Year Est. Return
+1,447.09%
5 Year Est. Return
+3,249.52%
10 Year Est. Return
–
AUM
$1.33B
AUM Growth
+$159M
(+14%)
Cap. Flow
+$99.4M
Cap. Flow
% of AUM
7.45%
Top 10 Holdings %
Top 10 Hldgs %
74.55%
Holding
40
New
3
Increased
5
Reduced
6
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
JBIO
Jade Biosciences
JBIO
|
+$110M |
| 2 |
CBIO
Crescent Biopharma
CBIO
|
+$28.7M |
| 3 |
Oric Pharmaceuticals
ORIC
|
+$22.9M |
| 4 |
CytomX Therapeutics
CTMX
|
+$22.5M |
| 5 |
Savara
SVRA
|
+$15.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Praxis Precision Medicines
PRAX
|
+$37.5M |
| 2 |
Pharvaris
PHVS
|
+$17.2M |
| 3 |
Dianthus Therapeutics
DNTH
|
+$14M |
| 4 |
CDTX
Cidara Therapeutics
CDTX
|
+$9.91M |
| 5 |
Solid Biosciences
SLDB
|
+$9.18M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.4% |
| 2 | Financials | 0.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SEPN
26
Septerna Inc
SEPN
$1.55B
| $5.71M | 0.43% |
+540,453
| New | +$4.45M |
|
27
Surrozen
SRZN
$258M
| $5.66M | 0.42% |
632,931
| – | – |
|
28
Zura Bio
ZURA
$516M
| $4.86M | 0.36% |
4,631,216
-391,950
| -8% | -$469K |
|
|
ARTV
29
Artiva Biotherapeutics
ARTV
$491M
| $2.43M | 0.18% |
1,609,569
| – | – |
|
|
CASI
30
DELISTED
CASI Pharmaceuticals
CASI
| $1.16M | 0.09% |
987,259
| – | – |
|
31
Tenax Therapeutics
TENX
$363M
| $568K | 0.04% |
98,564
-109,769
| -53% | -$634K |
|
|
APLT
32
DELISTED
Applied Therapeutics
APLT
| – | – |
-5,567,709
| Closed | -$2.72M |
|
33
4D Molecular Therapeutics
FDMT
$532M
| – | – |
-677,600
| Closed | -$2.19M |
|
34
Century Therapeutics
IPSC
$364M
| – | – |
-2,498,069
| Closed | -$1.19M |
|
|
MRSN
35
DELISTED
Mersana Therapeutics
MRSN
| – | – |
-142,973
| Closed | -$1.23M |
|
|
36
Praxis Precision Medicines
PRAX
$8.58B
| – | – |
-989,985
| Closed | -$37.5M |
|
|
37
Solid Biosciences
SLDB
$794M
| – | – |
-2,481,400
| Closed | -$9.18M |
|
38
Instil Bio
TIL
$48.3M
| – | – |
-33,177
| Closed | -$576K |
|
39
Tenaya Therapeutics
TNYA
$161M
| – | – |
-1,555,556
| Closed | -$887K |
|
40
Trevi Therapeutics
TRVI
$2.59B
| – | – |
-615,506
| Closed | -$3.87M |
|
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VR Adviser's Q2 2025 Portfolio in Review
As of Q2 2025, VR Adviser held 40 positions worth $1.33B, up 14% from $1.18B the previous quarter. Its ten largest holdings account for 75% of the portfolio.
VR Adviser deployed $99.4M of net new capital in Q2 2025, opening 3 new positions and adding to 5 existing holdings. Its largest new stake was Jade Biosciences: 3,220,364 shares worth $32.2M.
By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 99% a quarter earlier, followed by Financials.
On the sell side, the largest reduction was Pharvaris, an estimated $17.2M trimmed.
- VR Adviser's largest Q2 2025 buy was Jade Biosciences: 3,220,364 shares worth $32.2M.
- VR Adviser added most to Crescent Biopharma in Q2 2025, an estimated $28.7M increase.
- VR Adviser's biggest Q2 2025 reduction was Pharvaris, cutting an estimated $17.2M.
- VR Adviser fully exited Praxis Precision Medicines in Q2 2025, selling an estimated $37.5M.
- VR Adviser's ten largest holdings make up 75% of its $1.33B portfolio in Q2 2025.
- VR Adviser opened 3 new positions and closed 9 in Q2 2025.
- VR Adviser's portfolio value rose 14% quarter-over-quarter to $1.33B.
Based on VR Adviser's 13F filing for Q2 2025, filed 14 Aug 2025.