Venrock Adviser, LLC

Fundamental concentrated ★Highest signal healthcare specialist (100%) CIK 1615982
League rank
#106
in Fundamental concentrated · #158 overall
Long book
$2.68B
Q1 2026
Positions
33
Top-10 weight
72%
concentration
Last quarter
+32.6%
SPY +14.8%
Turnover
29%
of book per quarter

Strategy in plain words

auto-generated from filings

Venrock Adviser, LLC is a concentrated fundamental stock-picker, specialised in healthcare (100% of the long book), running a $2.68B US long book across 33 positions.

The portfolio is concentrated: the top 10 names carry 72% of the portfolio. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: APOGEE THERAPEUTICS INC, ERASCA INC, ORUKA THERAPEUTICS INC, SPYRE THERAPEUTICS INC, KALVISTA PHARMACEUTICALS INC.

Over the last 9 quarters its long book ran on average 6.2pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
-27.8%
Q2 2024
+20.5%
Q3 2024
-18.3%
Q4 2024
-27.3%
Q1 2025
+11.9%
Q2 2025
+31.5%
Q3 2025
+48.4%
Q4 2025
+25.3%
Q1 2026
+32.6%

Sector allocation

Healthcare
95%
Other
5%

Long book by quarter

$2.10B
Q1 2024
$1.57B
Q2 2024
$1.91B
Q3 2024
$1.46B
Q4 2024
$1.18B
Q1 2025
$1.33B
Q2 2025
$1.78B
Q3 2025
$2.02B
Q4 2025
$2.68B
Q1 2026

What does Venrock Adviser, own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
APGE APOGEE THERAPEUTICS INCHealthcare8.5M$714.9M26.7%Held
ERAS ERASCA INCHealthcare16.4M$265.1M9.9%-8.3%
ORKA ORUKA THERAPEUTICS INCHealthcare4.1M$203.5M7.6%Held
SYRE SPYRE THERAPEUTICS INCHealthcare3.7M$185.9M6.9%Held
4XC1 KALVISTA PHARMACEUTICALS INC—6.5M$130.3M4.9%-3.8%
DNTH DIANTHUS THERAPEUTICS INCHealthcare1.2M$99.0M3.7%+18.0%
DMRA DAMORA THERAPEUTICS INCHealthcare3.6M$93.3M3.5%New
OCUL OCULAR THERAPEUTIX INCHealthcare10.3M$87.6M3.3%+41.4%
COGT COGENT BIOSCIENCES INCHealthcare2.0M$77.0M2.9%Held
VRDN VIRIDIAN THERAPEUTICS INCHealthcare3.9M$75.9M2.8%Held
SVRA SAVARA INCHealthcare13.7M$75.0M2.8%Held
ELVN ENLIVEN THERAPEUTICS INCHealthcare1.7M$67.7M2.5%-46.5%
ORIC ORIC PHARMACEUTICALS INCHealthcare4.3M$54.7M2.0%-23.9%
VOR VOR BIOPHARMA INCHealthcare3.0M$54.3M2.0%+56.5%
MAZE MAZE THERAPEUTICS INCHealthcare1.6M$47.8M1.8%+3.5%
CTMX CYTOMX THERAPEUTICS INCHealthcare10.0M$46.9M1.8%-35.9%
JBIO JADE BIOSCIENCES INCHealthcare3.2M$45.2M1.7%Held
DYN DYNE THERAPEUTICS INCHealthcare2.2M$39.4M1.5%Held
CBIO CRESCENT BIOPHARMA INCHealthcare2.1M$39.2M1.5%Held
ZURA ZURA BIO LTDHealthcare6.4M$38.3M1.4%+20.4%
RLMD RELMADA THERAPEUTICS INCHealthcare4.8M$33.7M1.3%New
ENGN enGene Therapeutics IncHealthcare4.8M$32.5M1.2%Held
TENX TENAX THERAPEUTICS INCHealthcare1.7M$26.8M1.0%New
IPSC CENTURY THERAPEUTICS INCHealthcare8.7M$19.7M0.7%New
CGEM CULLINAN THERAPEUTICS INCHealthcare1.4M$19.6M0.7%Held
HELP CYBIN INCHealthcare3.9M$18.5M0.7%+0.3%
SRZN SURROZEN INCHealthcare632.9K$18.4M0.7%Held
SEPN SEPTERNA INCHealthcare506.1K$12.2M0.5%-17.1%
KRRO KORRO BIO INCHealthcare1.0M$11.4M0.4%New
ANRO ALTO NEUROSCIENCE INCHealthcare500.0K$11.2M0.4%New
ARTV ARTIVA BIOTHERAPEUTICS INCHealthcare1.6M$10.4M0.4%Held
XFOR X4 PHARMACEUTICALS INCHealthcare330.5K$1.4M0.1%New

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRMay 15, 202633$2.68B canonicalSEC ↗
Q4 202513F-HRFeb 17, 202627$2.02B canonicalSEC ↗
Q3 202513F-HRNov 14, 202533$1.78B canonicalSEC ↗
Q2 202513F-HRAug 14, 202531$1.33B canonicalSEC ↗
Q1 202513F-HRMay 15, 202537$1.18B canonicalSEC ↗
Q4 202413F-HRFeb 14, 202537$1.46B canonicalSEC ↗
Q3 202413F-HRNov 14, 202438$1.91B canonicalSEC ↗
Q2 202413F-HRAug 14, 202435$1.57B canonicalSEC ↗
Q1 202413F-HRMay 15, 202438$2.10B canonicalSEC ↗

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