VR Adviser, LLC
•CIK: 1615982•Filing: Q4 2025
**VR Adviser, LLC** manages $2.0B across a concentrated portfolio of 27 positions. The fund exhibits significant conviction in its top holdings, notably maintaining a substantial position in APGE at $641.1M. Further allocations include ORKA ($125.7M), VRDN ($120.8M), and SYRE ($120.7M), indicating a focused, high-conviction investment mandate. This structure suggests a deep-dive approach targeting specific market opportunities within its selected sectors.
Total AUM
$2.0B
QoQ Performance
+13.9%
Positions
27
Top 10 Concentration
73.7%
Latest Filing
Q4 2025
Top Holdings Allocation
APGE
ORKA
VRDN
SYRE
KALV
APGE31.7%
ORKA6.2%
VRDN6.0%
SYRE6.0%
KALV5.4%
OCUL4.4%
YB4P4.1%
COGT3.5%
📈 Biggest Buys
📉 Biggest Sells
Sector Breakdown
Other100.0%
🚪 Exited Positionssold since Q3 2025
—
METSERA INC
SOLD
$196.3M
—
PHARVARIS N V
SOLD
$16.8M
+2 more exited positions
Changes from Q3 2025
NEW1 new position
↑7 increased
↓4 decreased
Historical Filings
Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023