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Venrock Adviser, LLC

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13F filer, CIK 1615982, NEW YORK, NY

Venrock Adviser, LLC reported $2,024,517,832 across 27 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 73.72% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001615982-26-000005

Period
2025-12-31
Reported value
$2.02B
Holdings
27
Top 10 weight
73.72%
New
1
Sold out
7

Largest buys vs the previous quarter

SecurityShares changeApprox. value
SYREadded+1,000,000$32.8M
HELPnew+3,840,250$31.4M
VORadded+1,443,800$18.9M
MAZEadded+317,800$13.2M
CBIOadded+745,712$8.84M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MTSRexited-3,750,662-$196M
CDTXexited-946,788-$90.7M
COGTreduced-2,000,000-$71M
OCULreduced-5,845,915-$71M
ABVXexited-576,729-$49M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001615982-26-000005, largest first. % of portfolio is the value over $2,024,517,832, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
APGEAPOGEE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,493,321 shares; 2024Q4: 8,493,321 shares; 2025Q1: 8,493,321 shares; 2025Q2: 8,493,321 shares; 2025Q3: 8,493,321 shares; 2025Q4: 8,493,321 shares 8,493,321$641M31.67%0Timeline
ORKAORUKA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,085,620 shares; 2024Q4: 3,285,620 shares; 2025Q1: 4,148,428 shares; 2025Q2: 4,148,428 shares; 2025Q3: 4,148,428 shares; 2025Q4: 4,148,428 shares 4,148,428$126M6.21%0Timeline
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,882,709 shares; 2024Q4: 3,882,709 shares; 2025Q1: 3,882,709 shares; 2025Q2: 3,882,709 shares; 2025Q3: 3,882,709 shares; 2025Q4: 3,882,709 shares 3,882,709$121M5.97%0Timeline
SYRESPYRE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,685,448 shares; 2024Q4: 2,685,448 shares; 2025Q1: 2,685,448 shares; 2025Q2: 2,685,448 shares; 2025Q3: 2,685,448 shares; 2025Q4: 3,685,448 shares 3,685,448$121M5.96%+1,000,000Timeline
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,249,731 shares; 2024Q4: 6,249,731 shares; 2025Q1: 6,703,985 shares; 2025Q2: 6,728,985 shares; 2025Q3: 6,728,985 shares; 2025Q4: 6,728,985 shares 6,728,985$109M5.37%0Timeline
OCULOCULAR THERAPEUTIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,762,462 shares; 2024Q4: 12,762,462 shares; 2025Q1: 12,762,462 shares; 2025Q2: 12,762,462 shares; 2025Q3: 13,161,462 shares; 2025Q4: 7,315,547 shares 7,315,547$88.8M4.39%-5,845,915Timeline
SVRASAVARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,257,639 shares; 2025Q2: 8,884,263 shares; 2025Q3: 12,681,043 shares; 2025Q4: 13,740,375 shares 13,740,375$82.9M4.09%+1,059,332Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,684,167 shares; 2024Q4: 5,684,411 shares; 2025Q1: 5,684,411 shares; 2025Q2: 4,755,411 shares; 2025Q3: 4,000,000 shares; 2025Q4: 2,000,000 shares 2,000,000$71M3.51%-2,000,000Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 16,216,216 shares; 2024Q4: 16,216,216 shares; 2025Q1: 16,216,216 shares; 2025Q2: 17,857,083 shares; 2025Q3: 17,857,083 shares; 2025Q4: 17,857,083 shares 17,857,083$66.4M3.28%0Timeline
CTMXCYTOMX THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 13,969,882 shares; 2025Q3: 15,561,500 shares; 2025Q4: 15,561,500 shares 15,561,500$66.3M3.27%0Timeline
MAZEMAZE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,230,769 shares; 2025Q4: 1,548,569 shares 1,548,569$64.2M3.17%+317,800Timeline
JBIOJADE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,220,364 shares; 2025Q3: 3,220,364 shares; 2025Q4: 3,220,364 shares 3,220,364$49.7M2.45%0Timeline
ELVNENLIVEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,026,331 shares; 2024Q4: 4,026,331 shares; 2025Q1: 4,026,331 shares; 2025Q2: 4,026,331 shares; 2025Q3: 3,226,331 shares; 2025Q4: 3,226,331 shares 3,226,331$49.7M2.45%0Timeline
ORICORIC PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,394,527 shares; 2024Q4: 4,394,527 shares; 2025Q1: 3,182,527 shares; 2025Q2: 6,596,885 shares; 2025Q3: 6,596,885 shares; 2025Q4: 5,676,230 shares 5,676,230$46.4M2.29%-920,655Timeline
ENGNENGENE HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,565,841 shares; 2024Q4: 5,046,414 shares; 2025Q1: 5,046,414 shares; 2025Q2: 5,046,414 shares; 2025Q3: 5,046,414 shares; 2025Q4: 4,771,414 shares 4,771,414$43.1M2.13%-275,000Timeline
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,173,913 shares; 2024Q4: 2,173,913 shares; 2025Q1: 2,173,913 shares; 2025Q2: 2,173,913 shares; 2025Q3: 2,173,913 shares; 2025Q4: 2,173,913 shares 2,173,913$42.5M2.1%0Timeline
DNTHDIANTHUS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,744,373 shares; 2024Q4: 1,744,373 shares; 2025Q1: 1,744,373 shares; 2025Q2: 1,000,000 shares; 2025Q3: 960,803 shares; 2025Q4: 1,000,000 shares 1,000,000$41.2M2.04%+39,197Timeline
UPBUPSTREAM BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,295,319 shares; 2025Q1: 2,295,319 shares; 2025Q2: 2,295,319 shares; 2025Q3: 1,169,298 shares; 2025Q4: 1,169,298 shares 1,169,298$31.7M1.57%0Timeline
HELPCYBIN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,840,250 shares 3,840,250$31.4M1.55%newTimeline
ZURAZURA BIO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,023,166 shares; 2024Q4: 2,023,166 shares; 2025Q1: 5,023,166 shares; 2025Q2: 4,631,216 shares; 2025Q3: 4,631,216 shares; 2025Q4: 5,345,115 shares 5,345,115$28M1.38%+713,899Timeline
VORVOR BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 499,966 shares; 2025Q4: 1,943,766 shares 1,943,766$25.4M1.26%+1,443,800Timeline
CBIOCRESCENT BIOPHARMA INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,387,864 shares; 2025Q3: 1,387,864 shares; 2025Q4: 2,133,576 shares 2,133,576$25.3M1.25%+745,712Timeline
SEPNSEPTERNA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 540,453 shares; 2025Q3: 610,808 shares; 2025Q4: 610,808 shares 610,808$17M0.84%0Timeline
SRZNSURROZEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 632,931 shares; 2025Q2: 632,931 shares; 2025Q3: 632,931 shares; 2025Q4: 632,931 shares 632,931$14.3M0.71%0Timeline
CGEMCULLINAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,379,965 shares; 2024Q4: 1,379,965 shares; 2025Q1: 1,379,965 shares; 2025Q2: 1,379,965 shares; 2025Q3: 1,379,965 shares; 2025Q4: 1,379,965 shares 1,379,965$14.3M0.71%0Timeline
ARTVARTIVA BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,609,569 shares; 2024Q4: 1,609,569 shares; 2025Q1: 1,609,569 shares; 2025Q2: 1,609,569 shares; 2025Q3: 1,609,569 shares; 2025Q4: 1,609,569 shares 1,609,569$6.91M0.34%0Timeline
CASIFCASI PHARMACEUTICALS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 987,259 shares; 2024Q4: 987,259 shares; 2025Q1: 987,259 shares; 2025Q2: 987,259 shares; 2025Q3: 987,259 shares; 2025Q4: 987,259 shares 987,259$839K0.04%0Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MTSRMETSERA INC3,750,662$196Mshares
CDTXCIDARA THERAPEUTICS INC946,788$90.7Mshares
ABVXABIVAX SA576,729$49Mshares
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INC2,457,348$17.9Mshares
PHVSPHARVARIS N V674,599$16.8Mshares
FRNMPERCEPTIVE CAP SOLUTIONS COR750,000$7.95Mshares
TENXTENAX THERAPEUTICS INC437,708$3.33Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001615982-26-000005 base2026-02-17acceptance time not in the bulk data set