5AM Venture Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), 5AM Venture Management, LLC reported 25 stock positions worth $273.0 million. Its top holding was Skye Bioscience (SKYE) at 13.9% of the portfolio, followed by Entrada Therapeutics (TRDA, 9.0%) and Pharvaris (PHVS, 7.3%). Compared with Q2 2025, it sold out of 4, added to 1 and reduced 4. The biggest buy was CAMP4 Therapeutics (CAMP, shares +100%) and the biggest sale an exit from Moonlake Immunotherapeutics (MLTX).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001799883
- Portfolio Value
- $273.0M (Q3 2025)
- SEC Filing
- 0001799883-25-000002 ↗ filed Nov 14, 2025
Holdings Value
Holdings 25 stocks · $273.0M
| SKYE Skye Bioscience Inc. | 13.94% | 9,681,763 | $38.0M | Reduce -2.3% |
| TRDA Entrada Therapeutics Inc. | 9.04% | 4,256,379 | $24.7M | Reduce -1.2% |
| PHVS Pharvaris NV | 7.29% | 797,600 | $19.9M | No change |
| CAMP CAMP4 Therapeutics Corp. | 6.45% | 5,869,091 | $17.6M | Add +100.5% |
| CNTA Centessa Pharmaceuticals Ltd. | 6.05% | 680,945 | $16.5M | Reduce -18.1% |
| VRDN Viridian Therapeutics Inc. | 5.82% | 736,595 | $15.9M | No change |
| ELVN Enliven Therapeutics Inc. | 5.79% | 772,477 | $15.8M | No change |
| EYPT Eyepoint Inc. | 5.48% | 1,050,000 | $15.0M | No change |
| DNTH Dianthus Therapeutics Inc. | 5.26% | 365,053 | $14.4M | Reduce -62.9% |
| TYRA Tyra Biosciences Inc. | 4.81% | 939,298 | $13.1M | No change |
| CLDX Celldex Therapeutics Inc. | 4.71% | 497,270 | $12.9M | No change |
| ERAS Erasca Inc. | 4.32% | 5,405,404 | $11.8M | No change |
| PRAX Praxis Precision Medicines I | 3.30% | 170,000 | $9.0M | No change |
| GHRS GH Research PLC | 3.00% | 572,665 | $8.2M | No change |
| TECX Tectonic Therapeutic Inc. | 2.94% | 511,660 | $8.0M | No change |
| BHVN Biohaven Ltd. | 2.63% | 478,972 | $7.2M | No change |
| ARTV Artiva Biotherapeutics Inc. | 2.47% | 2,353,304 | $6.8M | No change |
| SRZN Surrozen Inc. | 1.46% | 310,000 | $4.0M | No change |
| TARA Protara Therapeutic Inc. | 1.27% | 800,000 | $3.5M | No change |
| ALEC Alector Inc. | 1.08% | 995,841 | $2.9M | No change |
| SLN Silence Therapeutics PLC-ADR | 0.91% | 476,200 | $2.5M | No change |
| ADVM Adverum Biotechnologies Inc. | 0.90% | 541,666 | $2.5M | No change |
| RLYB Rallybio Corp. | 0.66% | 3,630,724 | $1.8M | No change |
| ZNTL Zentalis Pharmaceuticals Inc. | 0.27% | 490,000 | $740K | No change |
| MRSN Mersana Therapeutics Inc. | 0.15% | 52,200 | $405K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| MLTX Moonlake Immunotherapeutics | Sold out | 0.00% | −5.12 |
| VOR Vor Biopharma Inc. | Sold out | 0.00% | −3.96 |
| TRDA Entrada Therapeutics Inc. | Reduce -1.2% | 9.04% | −2.09 |
| SKYE Skye Bioscience Inc. | Reduce -2.3% | 13.94% | −1.99 |
| VKTX Viking Therapeutics Inc. | Sold out | 0.00% | −1.93 |
| DNTH Dianthus Therapeutics Inc. | Reduce -62.9% | 5.26% | −1.79 |
| SCPH Scpharmaceuticals Inc. | Sold out | 0.00% | −1.76 |
| CNTA Centessa Pharmaceuticals Ltd. | Reduce -18.1% | 6.05% | +1.85 |
Portfolio Buys Q2 2025 → Q3 2025
| CAMP CAMP4 Therapeutics Corp. | Add +100.5% | 6.45% | +4.82 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 16 | $287.9M | MPLT, TYRA, TRDA, PHVS, CAMP |
| Q1 2026 | 20 | $360.2M | ERAS, TRDA, TYRA, CAMP, CNTA |
| Q4 2025 | 21 | $318.1M | TRDA, CAMP, TYRA, VRDN, PHVS |
| Q3 2025 | 25 | $273.0M | SKYE, TRDA, PHVS, CAMP, CNTA |
| Q2 2025 | 29 | $260.1M | SKYE, TRDA, DNTH, ELVN, PHVS |
| Q1 2025 | 31 | $264.4M | TRDA, ELVN, DNTH, SKYE, PHVS |
| Q4 2024 | 31 | $419.1M | TRDA, ELVN, SKYE, TECX, ARTV |
| Q3 2024 | 28 | $484.0M | TRDA, ELVN, SKYE, ARTV, DNTH |
| Q2 2024 | 28 | $447.1M | SKYE, TRDA, ELVN, DNTH, CLDX |
| Q1 2024 | 26 | $446.6M | ELVN, TRDA, DNTH, MRUS, CLDX |