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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
-17.82%
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
$1.18B
AUM Growth
-$282M
(-19%)
Cap. Flow
+$79.9M
Cap. Flow
% of AUM
6.8%
Top 10 Holdings %
Top 10 Hldgs %
76.08%
Holding
41
New
4
Increased
4
Reduced
7
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
MTSR
Metsera Inc
MTSR
|
+$106M |
| 2 |
ORKA
Oruka Therapeutics
ORKA
|
+$10.8M |
| 3 |
Solid Biosciences
SLDB
|
+$10.6M |
| 4 |
Savara
SVRA
|
+$9M |
| 5 |
Surrozen
SRZN
|
+$7.36M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MRUS
Merus
MRUS
|
+$24.9M |
| 2 |
4D Molecular Therapeutics
FDMT
|
+$10.7M |
| 3 |
Oric Pharmaceuticals
ORIC
|
+$10.6M |
| 4 |
Aquestive Therapeutics
AQST
|
+$9.36M |
| 5 |
TERN
Terns Pharmaceuticals
TERN
|
+$5.97M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.34% |
| 2 | Financials | 0.66% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Apogee Therapeutics
APGE
$10.1B
| $317M | 27% |
8,493,321
| – | – |
|
|
MTSR
2
DELISTED
Metsera Inc
MTSR
| $102M | 8.69% |
+3,750,662
| New | +$106M |
|
3
Ocular Therapeutix
OCUL
$1.79B
| $93.5M | 7.96% |
12,762,462
| – | – |
|
4
Enliven Therapeutics
ELVN
$3.92B
| $79.2M | 6.74% |
4,026,331
| – | – |
|
|
KALV
5
DELISTED
KalVista Pharmaceuticals
KALV
| $77.4M | 6.58% |
6,703,985
+454,254
| +7% | +$4.64M |
|
6
Viridian Therapeutics
VRDN
$2.09B
| $52.3M | 4.45% |
3,882,709
| – | – |
|
7
Pharvaris
PHVS
$2.28B
| $48.9M | 4.16% |
3,112,720
-107,410
| -3% | -$1.81M |
|
8
Spyre Therapeutics
SYRE
$8.54B
| $43.3M | 3.69% |
2,685,448
| – | – |
|
|
ORKA
9
Oruka Therapeutics
ORKA
$5.82B
| $42.6M | 3.62% |
4,148,428
+862,808
| +26% | +$10.8M |
|
10
Praxis Precision Medicines
PRAX
$8.58B
| $37.5M | 3.19% |
989,985
| – | – |
|
11
Cogent Biosciences
COGT
$6.65B
| $34M | 2.9% |
5,684,411
| – | – |
|
12
Dianthus Therapeutics
DNTH
$5.84B
| $31.6M | 2.69% |
1,744,373
| – | – |
|
13
Dyne Therapeutics
DYN
$4.7B
| $22.7M | 1.93% |
2,173,913
| – | – |
|
|
CDTX
14
DELISTED
Cidara Therapeutics
CDTX
| $22.6M | 1.93% |
1,051,518
+285,795
| +37% | +$6.35M |
|
15
enGene Therapeutics
ENGN
$120M
| $22.6M | 1.92% |
5,046,414
| – | – |
|
16
Erasca
ERAS
$6.3B
| $22.2M | 1.89% |
16,216,216
| – | – |
|
|
17
Oric Pharmaceuticals
ORIC
$1.15B
| $17.8M | 1.51% |
3,182,527
-1,212,000
| -28% | -$10.6M |
|
|
UPB
18
Upstream Bio Inc
UPB
$343M
| $14M | 1.2% |
2,295,319
| – | – |
|
|
ATXS
19
DELISTED
Astria Therapeutics
ATXS
| $13.1M | 1.12% |
2,457,348
| – | – |
|
20
Cullinan Oncology
CGEM
$1.01B
| $10.4M | 0.89% |
1,379,965
| – | – |
|
|
21
Solid Biosciences
SLDB
$794M
| $9.18M | 0.78% |
+2,481,400
| New | +$10.6M |
|
|
22
Savara
SVRA
$1.12B
| $9.02M | 0.77% |
+3,257,639
| New | +$9M |
|
|
ABVX
23
Abivax
ABVX
$10.9B
| $8.41M | 0.72% |
1,345,780
| – | – |
|
|
PCSC
24
DELISTED
Perceptive Capital Solutions
PCSC
| $7.72M | 0.66% |
750,000
| – | – |
|
|
25
Surrozen
SRZN
$258M
| $7.38M | 0.63% |
+632,931
| New | +$7.36M |
|
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PCA
LP
VR Adviser's Q1 2025 Portfolio in Review
As of Q1 2025, VR Adviser held 41 positions worth $1.18B, down 19% from $1.46B the previous quarter. Its ten largest holdings account for 76% of the portfolio.
VR Adviser deployed $79.9M of net new capital in Q1 2025, opening 4 new positions and adding to 4 existing holdings. Its largest new stake was Metsera Inc: 3,750,662 shares worth $102M.
By sector, the portfolio is most concentrated in Healthcare at 99% of assets, down from 99% a quarter earlier, followed by Financials.
On the sell side, the largest reduction was 4D Molecular Therapeutics, an estimated $10.7M trimmed.
- VR Adviser's largest Q1 2025 buy was Metsera Inc: 3,750,662 shares worth $102M.
- VR Adviser added most to Oruka Therapeutics in Q1 2025, an estimated $10.8M increase.
- VR Adviser's biggest Q1 2025 reduction was 4D Molecular Therapeutics, cutting an estimated $10.7M.
- VR Adviser fully exited Merus in Q1 2025, selling an estimated $24.9M.
- VR Adviser's ten largest holdings make up 76% of its $1.18B portfolio in Q1 2025.
- VR Adviser opened 4 new positions and closed 4 in Q1 2025.
- VR Adviser's portfolio value fell 19% quarter-over-quarter to $1.18B.
Based on VR Adviser's 13F filing for Q1 2025, filed 15 May 2025.