VR Adviser, LLC
- SEC CIK
- 0001615982
- Latest filing
- Aug 14, 2026
Holdings in Q4 2025
Holdings as of Dec 31, 2025, filed Feb 17, 2026. Long positions only; changes compare share counts with Q3 2025.
- Positions
- 27
- −6 vs. Q3 2025
- Portfolio value
- $2.02B
- +$247.8M (+13.9%) vs. Q3 2025
| Security | Class | Shares | Value | % of portfolio | Share change | Action | History |
|---|---|---|---|---|---|---|---|
| APGEApogee Therapeutics, Inc. | COM | 8,493,321 | $641.1M | 31.7% | 00.0% | Unchanged | History |
| ORKAOruka Therapeutics, Inc. | COM | 4,148,428 | $125.7M | 6.2% | 00.0% | Unchanged | History |
| VRDNViridian Therapeutics, Inc. | COM | 3,882,709 | $120.8M | 6.0% | 00.0% | Unchanged | History |
| SYRESpyre Therapeutics, Inc. | COM NEW | 3,685,448 | $120.7M | 6.0% | +1,000,000+37.2% | Added | History |
| KALVKalVista Pharmaceuticals, Inc. | COM | 6,728,985 | $108.7M | 5.4% | 00.0% | Unchanged | History |
| OCULOcular Therapeutix, Inc | COM | 7,315,547 | $88.8M | 4.4% | −5,845,915−44.4% | Reduced | History |
| SVRASavara Inc | COM | 13,740,375 | $82.9M | 4.1% | +1,059,332+8.4% | Added | History |
| COGTCogent Biosciences, Inc. | COM | 2,000,000 | $71.0M | 3.5% | −2,000,000−50.0% | Reduced | History |
| ERASErasca, Inc. | COM | 17,857,083 | $66.4M | 3.3% | 00.0% | Unchanged | History |
| CTMXCytomX Therapeutics, Inc. | COM | 15,561,500 | $66.3M | 3.3% | 00.0% | Unchanged | History |
| MAZEMaze Therapeutics, Inc. | COM | 1,548,569 | $64.2M | 3.2% | +317,800+25.8% | Added | History |
| JBIOJade Biosciences, Inc. | COM NEW | 3,220,364 | $49.7M | 2.5% | 00.0% | Unchanged | History |
| ELVNEnliven Therapeutics, Inc. | COM | 3,226,331 | $49.7M | 2.5% | 00.0% | Unchanged | History |
| ORICOric Pharmaceuticals, Inc. | COM | 5,676,230 | $46.4M | 2.3% | −920,655−14.0% | Reduced | History |
| ENGNenGene Therapeutics Inc. | COM | 4,771,414 | $43.1M | 2.1% | −275,000−5.4% | Reduced | History |
| DYNDyne Therapeutics, Inc. | COM | 2,173,913 | $42.5M | 2.1% | 00.0% | Unchanged | History |
| DNTHDianthus Therapeutics, Inc. | COM | 1,000,000 | $41.2M | 2.0% | +39,197+4.1% | Added | History |
| UPBUpstream Bio, Inc. | COM | 1,169,298 | $31.7M | 1.6% | 00.0% | Unchanged | History |
| HELPCybin Inc. | COM NEW | 3,840,250 | $31.4M | 1.6% | +3,840,250 | New | History |
| ZURAZura Bio Ltd | CLASS A ORD SHS | 5,345,115 | $28.0M | 1.4% | +713,899+15.4% | Added | History |
| VORVor Biopharma Inc. | COM NEW | 1,943,766 | $25.4M | 1.3% | +1,443,800+288.8% | Added | History |
| CBIOCrescent Biopharma, Inc. | COM | 2,133,576 | $25.3M | 1.2% | +745,712+53.7% | Added | History |
| SEPNSepterna, Inc. | COM | 610,808 | $17.0M | 0.8% | 00.0% | Unchanged | History |
| SRZNSurrozen, Inc. | COM NEW | 632,931 | $14.3M | 0.7% | 00.0% | Unchanged | History |
| CGEMCullinan Therapeutics, Inc. | COM | 1,379,965 | $14.3M | 0.7% | 00.0% | Unchanged | History |
| ARTVArtiva Biotherapeutics, Inc. | COM | 1,609,569 | $6.91M | 0.3% | 00.0% | Unchanged | History |
| CASIFCASI Pharmaceuticals, Inc. | ORD SHS | 987,259 | $839.2K | <0.1% | 00.0% | Unchanged | History |
Sold out since Q3 2025 (7)
Positions held at the end of Q3 2025 that are gone from this filing.
| Security | Class | Shares in Q3 2025 | Value in Q3 2025 | % of portfolio in Q3 2025 | History |
|---|---|---|---|---|---|
| MTSRMetsera, Inc. | COM | 3,750,662 | $196.3M | 11.0% | History |
| CDTXCidara Therapeutics, Inc. | COM NEW | 946,788 | $90.7M | 5.1% | History |
| ABVXAbivax S.A. | SPONSORED ADS | 576,729 | $49.0M | 2.8% | History |
| ATXSAstria Therapeutics, Inc. | COM | 2,457,348 | $17.9M | 1.0% | History |
| PHVSPharvaris N.V. | COM | 674,599 | $16.8M | 0.9% | History |
| FRNMFreenome, Inc. | CL A ORD SHS | 750,000 | $7.95M | 0.4% | History |
| TENXTenax Therapeutics, Inc. | COM NEW | 437,708 | $3.33M | 0.2% | History |