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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
+57.13%
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
$594M
AUM Growth
-$54.5M
Cap. Flow
-$79.3M
Cap. Flow %
-13.36%
Top 10 Hldgs %
70.57%
Holding
38
New
7
Increased
4
Reduced
6
Closed
10

Top Buys

Rank Stock Value
1
AXSM icon
Axsome Therapeutics
AXSM
+$40.1M
2
NVAX icon
Novavax
NVAX
+$33.2M
3
MRUS
Merus
MRUS
+$21.6M
4
CELC icon
Celcuity
CELC
+$21.6M
5
KALV
KalVista Pharmaceuticals
KALV
+$15.6M

Top Sells

Rank Stock Value
1
TCDA
Tricida, Inc. Common Stock
TCDA
+$94.8M
2
RLMD icon
Relmada Therapeutics
RLMD
+$56.2M
3
GOSS icon
Gossamer Bio
GOSS
+$20.9M
4
TIL icon
Instil Bio
TIL
+$19.9M
5
AKUS
Akouos Inc
AKUS
+$18.9M

Sector Composition

Rank Sector Weight
1 Healthcare 98.81%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VRDN icon
1
Viridian Therapeutics
VRDN
$2.09B
$78.9M 13.29%
2,699,865
+569,557
+27% +$13.1M
ACRS icon
2
Aclaris Therapeutics
ACRS
$726M
$71.9M 12.11%
4,563,962
– –
AXSM icon
3
Axsome Therapeutics
AXSM
$11.2B
$51.7M 8.72%
+670,718
New +$40.1M
COGT icon
4
Cogent Biosciences
COGT
$6.65B
$46.7M 7.86%
4,038,117
– –
TERN
5
DELISTED
Terns Pharmaceuticals
TERN
$37.7M 6.36%
3,707,891
– –
GHRS icon
6
GH Research
GHRS
$1.93B
$34.2M 5.76%
3,517,125
+183,971
+6% +$1.99M
CELC icon
7
Celcuity
CELC
$4.21B
$29.5M 4.97%
+2,105,386
New +$21.6M
DICE
8
DELISTED
DICE Therapeutics, Inc. Common Stock
DICE
$25.6M 4.3%
819,000
+54,021
+7% +$1.76M
JBIO
9
Jade Biosciences
JBIO
$1.2B
$21.9M 3.69%
21,368
-2,458
-10% -$1.78M
PLRX icon
10
Pliant Therapeutics
PLRX
$64.4M
$20.9M 3.52%
1,080,000
– –
KALV
11
DELISTED
KalVista Pharmaceuticals
KALV
$19.7M 3.32%
+2,916,667
New +$15.6M
NVAX icon
12
Novavax
NVAX
$1.2B
$19.3M 3.26%
+1,879,894
New +$33.2M
MRUS
13
DELISTED
Merus
MRUS
$19M 3.2%
+1,226,214
New +$21.6M
CABA icon
14
Cabaletta Bio
CABA
$437M
$17.5M 2.95%
+1,895,285
New +$6.9M
ANNX icon
15
Annexon
ANNX
$834M
$16.6M 2.8%
3,220,050
– –
VECT
16
DELISTED
VectivBio Holding AG Ordinary Shares
VECT
$16.2M 2.72%
+1,866,000
New +$15M
PRVB
17
DELISTED
Provention Bio, Inc. Common Stock
PRVB
$11.8M 1.99%
1,118,653
– –
SVRA icon
18
Savara
SVRA
$1.12B
$9.84M 1.66%
6,351,531
+1,796,493
+39% +$2.46M
MIST icon
19
Milestone Pharmaceuticals
MIST
$138M
$8.75M 1.47%
2,208,812
-216,925
-9% -$1.14M
LIAN
20
DELISTED
LianBio American Depositary Shares
LIAN
$7.86M 1.32%
4,793,047
-585,294
-11% -$912K
MRNS
21
DELISTED
Marinus Pharmaceuticals, Inc
MRNS
$7.05M 1.19%
1,770,705
-1,386,098
-44% -$6.81M
TRVI icon
22
Trevi Therapeutics
TRVI
$2.59B
$5.89M 0.99%
3,050,022
– –
FULC icon
23
Fulcrum Therapeutics
FULC
$273M
$3.26M 0.55%
447,326
-752,674
-63% -$4.91M
LYRA
24
DELISTED
LYRA THERAPEUTICS INC
LYRA
$2.9M 0.49%
18,483
– –
INZY
25
DELISTED
Inozyme Pharma
INZY
$2.85M 0.48%
2,709,987
– –
1
2

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WGI
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TCAM
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SFI
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HC
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VR Adviser's Q4 2022 Portfolio in Review

As of Q4 2022, VR Adviser held 38 positions worth $594M, down 8.4% from $648M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

VR Adviser withdrew a net $79.3M in Q4 2022, closing 10 positions and reducing 6 holdings. Its most notable exit was Tricida, Inc. Common Stock, an estimated $94.8M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 97% a quarter earlier.

Against the trend, VR Adviser opened a new position in Axsome Therapeutics worth $51.7M.

  • VR Adviser's largest Q4 2022 buy was Axsome Therapeutics: 670,718 shares worth $51.7M.
  • VR Adviser added most to Viridian Therapeutics in Q4 2022, an estimated $13.1M increase.
  • VR Adviser's biggest Q4 2022 reduction was Marinus Pharmaceuticals, Inc, cutting an estimated $6.81M.
  • VR Adviser fully exited Tricida, Inc. Common Stock in Q4 2022, selling an estimated $94.8M.
  • VR Adviser's ten largest holdings make up 71% of its $594M portfolio in Q4 2022.
  • VR Adviser opened 7 new positions and closed 10 in Q4 2022.
  • VR Adviser's portfolio value fell 8.4% quarter-over-quarter to $594M.

Based on VR Adviser's 13F filing for Q4 2022, filed 14 Feb 2023.