Venrock Adviser, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Venrock Adviser, LLC reported 31 stock positions worth $1.3 billion. Its top holding was Apogee Therapeutics (APGE) at 27.6% of the portfolio, followed by Ocular Therapeutix (OCUL, 8.9%) and Metsera (MTSR, 8.0%). Compared with Q1 2025, it opened 4 new positions, sold out of 10, added to 4 and reduced 6. The biggest buy was Oric Pharmaceuticals (ORIC, shares +107%) and the biggest sale an exit from Praxis Precision Medicines I (PRAX).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001615982
- Portfolio Value
- $1.3B (Q2 2025)
- SEC Filing
- 0001415889-25-021914 ↗ filed Aug 14, 2025
Holdings Value
Holdings 31 stocks · $1.3B
| APGE Apogee Therapeutics Inc. | 27.64% | 8,493,321 | $368.9M | No change |
| OCUL Ocular Therapeutix Inc. | 8.88% | 12,762,462 | $118.4M | No change |
| MTSR Metsera Inc. | 8.00% | 3,750,662 | $106.7M | No change |
| ELVN Enliven Therapeutics Inc. | 6.05% | 4,026,331 | $80.8M | No change |
| KALV Kalvista Pharmaceuticals Inc. | 5.70% | 6,728,985 | $76.1M | Add +0.4% |
| ORIC Oric Pharmaceuticals Inc. | 5.02% | 6,596,885 | $67.0M | Add +107.3% |
| VRDN Viridian Therapeutics Inc. | 4.07% | 3,882,709 | $54.3M | No change |
| ORKA Oruka Therapeutics Inc. | 3.48% | 4,148,428 | $46.5M | No change |
| SYRE Spyre Therapeutics Inc. | 3.01% | 2,685,448 | $40.2M | No change |
| PHVS Pharvaris NV | 2.70% | 2,047,620 | $36.0M | Reduce -34.2% |
| COGT Cogent Biosciences Inc. | 2.56% | 4,755,411 | $34.1M | Reduce -16.3% |
| JBIO Jade Biosciences Inc. | 2.41% | 3,220,364 | $32.2M | New |
| CTMX Cytomx Therapeutics Inc. | 2.38% | 13,969,882 | $31.7M | New |
| CDTX Cidara Therapeutics Inc. | 2.33% | 639,088 | $31.1M | Reduce -39.2% |
| UPB Upstream Bio Inc. | 1.89% | 2,295,319 | $25.2M | No change |
| ERAS Erasca Inc. | 1.70% | 17,857,083 | $22.7M | Add +10.1% |
| CBIO Crescent Biopharma Inc. | 1.68% | 1,387,864 | $22.4M | New |
| DYN Dyne Therapeutics Inc. | 1.55% | 2,173,913 | $20.7M | No change |
| SVRA Savara Inc. | 1.52% | 8,884,263 | $20.3M | Add +172.7% |
| DNTH Dianthus Therapeutics Inc. | 1.40% | 1,000,000 | $18.6M | Reduce -42.7% |
| ENGN Engene Holdings Inc. | 1.38% | 5,046,414 | $18.4M | No change |
| ATXS Astria Therapeutics Inc. | 0.99% | 2,457,348 | $13.2M | No change |
| CGEM Cullinan Therapeutics Inc. | 0.78% | 1,379,965 | $10.4M | No change |
| ABVX Abivax SA-ADR | 0.77% | 1,345,780 | $10.3M | No change |
| FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR | 0.60% | 750,000 | $8.0M | No change |
| SEPN Septerna Inc. | 0.43% | 540,453 | $5.7M | New |
| SRZN Surrozen Inc. | 0.42% | 632,931 | $5.7M | No change |
| ZURA Zura Bio Ltd. | 0.36% | 4,631,216 | $4.9M | Reduce -7.8% |
| ARTV Artiva Biotherapeutics Inc. | 0.18% | 1,609,569 | $2.4M | No change |
| CASIF Casi Pharmaceuticals Inc. | 0.09% | 987,259 | $1.2M | No change |
| TENX Tenax Therapeutics Inc. | 0.04% | 98,564 | $568K | Reduce -52.7% |
Portfolio Sells Q1 2025 → Q2 2025
| PRAX Praxis Precision Medicines I | Sold out | 0.00% | −3.19 |
| PHVS Pharvaris NV | Reduce -34.2% | 2.70% | −1.46 |
| DNTH Dianthus Therapeutics Inc. | Reduce -42.7% | 1.40% | −1.30 |
| SLDB Solid Biosciences Inc. | Sold out | 0.00% | −0.78 |
| COGT Cogent Biosciences Inc. | Reduce -16.3% | 2.56% | −0.34 |
| TRVI Trevi Therapeutics Inc. | Sold out | 0.00% | −0.33 |
| APLT Applied Therapeutics Inc. | Sold out | 0.00% | −0.23 |
| ZURA Zura Bio Ltd. | Reduce -7.8% | 0.36% | −0.19 |
| FDMT 4D Molecular Therapeutics Inc. | Sold out | 0.00% | −0.19 |
| MERSANA THERAPEUTICS INC | Sold out | 0.00% | −0.10 |
| IPSC Century Therapeutics Inc. | Sold out | 0.00% | −0.10 |
| TNYA Tenaya Therapeutics Inc. | Sold out | 0.00% | −0.08 |
| TENX Tenax Therapeutics Inc. | Reduce -52.7% | 0.04% | −0.07 |
| GLYCOMIMETICS INC | Sold out | 0.00% | −0.05 |
| TIL Instil Bio Inc. | Sold out | 0.00% | −0.05 |
| CDTX Cidara Therapeutics Inc. | Reduce -39.2% | 2.33% | +0.41 |
Portfolio Buys Q1 2025 → Q2 2025
| ORIC Oric Pharmaceuticals Inc. | Add +107.3% | 5.02% | +3.51 |
| JBIO Jade Biosciences Inc. | New | 2.41% | +2.41 |
| CTMX Cytomx Therapeutics Inc. | New | 2.38% | +2.38 |
| CBIO Crescent Biopharma Inc. | New | 1.68% | +1.68 |
| SVRA Savara Inc. | Add +172.7% | 1.52% | +0.75 |
| SEPN Septerna Inc. | New | 0.43% | +0.43 |
| ERAS Erasca Inc. | Add +10.1% | 1.70% | −0.19 |
| KALV Kalvista Pharmaceuticals Inc. | Add +0.4% | 5.70% | −0.88 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 33 | $3.3B | APGE, ORKA, ERAS, SYRE, DNTH |
| Q1 2026 | 33 | $2.7B | APGE, ERAS, ORKA, SYRE, KALV |
| Q4 2025 | 27 | $2.0B | APGE, ORKA, VRDN, SYRE, KALV |
| Q3 2025 | 33 | $1.8B | APGE, MTSR, OCUL, CDTX, VRDN |
| Q2 2025 | 31 | $1.3B | APGE, OCUL, MTSR, ELVN, KALV |
| Q1 2025 | 37 | $1.2B | APGE, MTSR, OCUL, ELVN, KALV |
| Q4 2024 | 37 | $1.5B | APGE, OCUL, ELVN, PRAX, VRDN |
| Q3 2024 | 38 | $1.9B | APGE, OCUL, ELVN, VRDN, APLT |
| Q2 2024 | 35 | $1.6B | APGE, ELVN, FDMT, OCUL, DYN |
| Q1 2024 | 38 | $2.1B | APGE, FDMT, OCUL, SYRE, MRUS |