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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
APGE icon
1
Apogee Therapeutics
APGE
$10.1B
$337M 18.99%
8,493,321
– –
MTSR
2
DELISTED
Metsera Inc
MTSR
$196M 11.05%
3,750,662
– –
OCUL icon
3
Ocular Therapeutix
OCUL
$1.88B
$154M 8.66%
13,161,462
+399,000
+3% +$4.77M
CDTX
4
DELISTED
Cidara Therapeutics
CDTX
$90.7M 5.1%
946,788
+307,700
+48% +$19.6M
VRDN icon
5
Viridian Therapeutics
VRDN
$2.12B
$83.8M 4.72%
3,882,709
– –
KALV
6
DELISTED
KalVista Pharmaceuticals
KALV
$82M 4.61%
6,728,985
– –
ORKA
7
Oruka Therapeutics
ORKA
$5.58B
$79.8M 4.49%
4,148,428
– –
ORIC icon
8
Oric Pharmaceuticals
ORIC
$1.11B
$79.2M 4.46%
6,596,885
– –
ELVN icon
9
Enliven Therapeutics
ELVN
$3.78B
$66M 3.72%
3,226,331
-800,000
-20% -$16.1M
COGT icon
10
Cogent Biosciences
COGT
$6.76B
$57.4M 3.23%
4,000,000
-755,411
-16% -$8.95M
CTMX icon
11
CytomX Therapeutics
CTMX
$725M
$49.6M 2.79%
15,561,500
+1,591,618
+11% +$3.58M
ABVX
12
Abivax
ABVX
$11.3B
$49M 2.76%
576,729
-769,051
-57% -$47.1M
SVRA icon
13
Savara
SVRA
$1.16B
$45.3M 2.55%
12,681,043
+3,796,780
+43% +$11.2M
SYRE icon
14
Spyre Therapeutics
SYRE
$8.61B
$45M 2.53%
2,685,448
– –
ERAS icon
15
Erasca
ERAS
$6.77B
$38.9M 2.19%
17,857,083
– –
DNTH icon
16
Dianthus Therapeutics
DNTH
$5.62B
$37.8M 2.13%
960,803
-39,197
-4% -$1M
ENGN icon
17
enGene Therapeutics
ENGN
$124M
$34.5M 1.94%
5,046,414
– –
MAZE
18
Maze Therapeutics
MAZE
$1.58B
$31.9M 1.8%
+1,230,769
New +$20.8M
JBIO
19
Jade Biosciences
JBIO
$1.21B
$27.8M 1.56%
3,220,364
– –
DYN icon
20
Dyne Therapeutics
DYN
$3.84B
$27.5M 1.55%
2,173,913
– –
VOR icon
21
Vor Biopharma
VOR
$1.06B
$24.4M 1.37%
+499,966
New +$20.1M
UPB
22
Upstream Bio Inc
UPB
$359M
$22M 1.24%
1,169,298
-1,126,021
-49% -$17.5M
ZURA icon
23
Zura Bio
ZURA
$513M
$20.1M 1.13%
4,631,216
– –
ATXS
24
DELISTED
Astria Therapeutics
ATXS
$17.9M 1.01%
2,457,348
– –
PHVS icon
25
Pharvaris
PHVS
$2.4B
$16.8M 0.95%
674,599
-1,373,021
-67% -$30.5M
1
2

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TCAM
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SFI
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WG
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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.