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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
+70.27%
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
$1.78B
AUM Growth
+$442M
Cap. Flow
-$38.1M
Cap. Flow %
-2.14%
Top 10 Hldgs %
69.03%
Holding
33
New
2
Increased
6
Reduced
6
Closed
–

Top Buys

Rank Stock Value
1
MAZE
Maze Therapeutics
MAZE
+$20.8M
2
VOR icon
Vor Biopharma
VOR
+$20.1M
3
CDTX
Cidara Therapeutics
CDTX
+$19.6M
4
SVRA icon
Savara
SVRA
+$11.2M
5
OCUL icon
Ocular Therapeutix
OCUL
+$4.77M

Top Sells

Rank Stock Value
1
ABVX
Abivax
ABVX
+$47.1M
2
PHVS icon
Pharvaris
PHVS
+$30.5M
3
UPB
Upstream Bio Inc
UPB
+$17.5M
4
ELVN icon
Enliven Therapeutics
ELVN
+$16.1M
5
COGT icon
Cogent Biosciences
COGT
+$8.95M

Sector Composition

Rank Sector Weight
1 Healthcare 99.55%
2 Financials 0.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CBIO
26
Crescent Biopharma
CBIO
$629M
$16.5M 0.93%
1,387,864
– –
SEPN
27
Septerna Inc
SEPN
$1.51B
$11.5M 0.65%
610,808
+70,355
+13% +$923K
CGEM icon
28
Cullinan Oncology
CGEM
$1.06B
$8.18M 0.46%
1,379,965
– –
SRZN icon
29
Surrozen
SRZN
$246M
$8.16M 0.46%
632,931
– –
PCSC
30
DELISTED
Perceptive Capital Solutions
PCSC
$7.95M 0.45%
750,000
– –
ARTV
31
Artiva Biotherapeutics
ARTV
$492M
$4.62M 0.26%
1,609,569
– –
TENX icon
32
Tenax Therapeutics
TENX
$388M
$3.33M 0.19%
437,708
+339,144
+344% +$2.07M
CASI
33
DELISTED
CASI Pharmaceuticals
CASI
$1.64M 0.09%
987,259
– –
1
2

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TCAM
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SFI
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HC
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GIA
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VR Adviser's Q3 2025 Portfolio in Review

As of Q3 2025, VR Adviser held 33 positions worth $1.78B, up 33% from $1.33B the previous quarter. Its ten largest holdings account for 69% of the portfolio.

VR Adviser's Q3 2025 filing shows 2 new, 6 increased and 6 reduced positions. Its largest new stake was Maze Therapeutics: 1,230,769 shares worth $31.9M. The largest sale was Abivax, an estimated $47.1M.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 99% a quarter earlier, followed by Financials.

  • VR Adviser's largest Q3 2025 buy was Maze Therapeutics: 1,230,769 shares worth $31.9M.
  • VR Adviser added most to Cidara Therapeutics in Q3 2025, an estimated $19.6M increase.
  • VR Adviser's biggest Q3 2025 reduction was Abivax, cutting an estimated $47.1M.
  • VR Adviser's ten largest holdings make up 69% of its $1.78B portfolio in Q3 2025.
  • VR Adviser opened 2 new positions and closed 0 in Q3 2025.
  • VR Adviser's portfolio value rose 33% quarter-over-quarter to $1.78B.

Based on VR Adviser's 13F filing for Q3 2025, filed 14 Nov 2025.