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VR Management, LLC
Bryan E. Roberts · Hedge Fund · Value
VR Management, LLC is a New York-based investment management firm and an affiliate of the prominent venture capital firm Venrock. Established around 2013, the firm serves as the parent entity of VR Adviser, LLC, which manages the Venrock Healthcare Capital Partners (VHCP) funds. The institution focuses on long-term investment opportunities within the healthcare and life sciences sectors, particularly targeting small-capitalization public companies and later-stage private entities. By integrating a value-driven investment philosophy with a bottom-up, venture-like research process, the firm identifies high-growth opportunities in biotechnology and biopharmaceuticals. It manages several billion dollars in regulatory assets and maintains a concentrated portfolio of healthcare-focused equity holdings.
Simulated Performance
| Metric | Value |
|---|---|
| Total return | +142.9% |
| YTD return | +42.4% |
| Sharpe ratio | 3.68 |
| Win rate | 62% |
| AUM | $3.6B |
| Inception | Oct 1, 2025 |
| Updated | Sep 11, 2026 |
Institution Status
| Field | Value |
|---|---|
| AUM | $3.6B |
| Turnover | Low (<15%) |
| Avg holding | 18 Months |
| Inception | Oct 1, 2025 |
| Website | https://www.venrock.com |
Current Holdings
Updated on Sep 11, 2026.
| Ticker | Name | Portfolio % | Return |
|---|---|---|---|
| APGE | Apogee Therapeutics, Inc. Common Stock | 32.3% | +77.7% |
| ABVX | Abivax SA American Depositary Shares | 11.4% | +25.0% |
| ORKA | Oruka Therapeutics, Inc. | 10.9% | +94.9% |
| ERAS | Erasca Inc | 9.3% | +47.9% |
| SYRE | Spyre Therapeutics Inc. | 7.6% | +90.3% |
| DNTH | Dianthus Therapeutics Inc. | 3.6% | +64.7% |
| OCUL | Ocular Therapeutix Inc | 3.1% | +8.8% |
| DMRA | Damora Therapeutics, Inc. | 3.0% | +7.5% |
| SVRA | Savara Inc | 2.2% | +16.3% |
| VRDN | Viridian Therapeutics Inc | 2.1% | +0.7% |
| VOR | Vor Biopharma Inc | 1.9% | +40.1% |
| JBIO | Jade Biosciences, Inc. | 1.9% | +24.2% |
| COGT | Cogent Biosciences Inc | 1.6% | +59.9% |
| ORIC | Oric Pharmaceuticals Inc | 1.6% | +30.3% |
| DYN | Dyne Therapeutics Inc | 1.5% | +17.9% |
| HELP | Cybin Inc. Common Stock | 1.3% | +12.1% |
| MAZE | Maze Therapeutics, Inc. Common Stock | 1.2% | -17.8% |
| ANL | Adlai Nortye Ltd. American Depositary Shares | 1.2% | +27.0% |
| CBIO | Crescent Biopharma, Inc. | 1.0% | +16.4% |
| ZURA | Zura Bio Limited Class A Ordinary Shares | 1.0% | -8.9% |
Recent activity
| Date | Action | Ticker | Weight |
|---|---|---|---|
| Aug 31, 2026 | BUY | VOR | 1.8% → 1.9% |
| Aug 31, 2026 | BUY | SVRA | 1.9% → 2.2% |
| Aug 31, 2026 | SELL | JBIO | 2.1% → 1.9% |
| Aug 31, 2026 | BUY | CBIO | 0.9% → 1.0% |
| Aug 31, 2026 | BUY | ZURA | 0.0% → 1.0% |
Investment Style Analysis
VR Management, LLC is widely recognized for employing a Value strategy. As of Sep 11, 2026, the firm oversees approximately $3.6B in assets under management (AUM). The portfolio demonstrates a clear preference for the Biotechnology and Other sectors, reflecting a high-conviction approach to capital allocation.
Recent Market Moves
During the latest rebalancing period ending Aug 31, VR Management, LLC made a significant move by increasing exposure to VOR. This adjustment aligns with the fund's dynamic approach to risk management and capital deployment in current market conditions.
Investment Philosophy
The firm employs a primary-sourced, bottom-up approach to identify long-term investment opportunities within the healthcare and life sciences industries. It focuses on small-cap public companies and late-stage private firms, with a particular emphasis on the biopharmaceutical sector. The strategy integrates a value-driven methodology with the rigorous analytical framework typically associated with venture capital, seeking to capture upside in innovative companies that are often overlooked or undervalued by the broader market. The firm prioritizes unleveraged, long-only positions and leverages its deep domain expertise and its affiliation with Venrock to conduct extensive scientific, clinical, and commercial due diligence.
Disclaimer
The content provided on this page, including the simulated portfolio performance, holdings analysis, and AI-generated insights, is for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an offer to buy or sell any securities. All data is derived from historical SEC 13F filings and other public disclosures, which have a reporting lag. The "Simulated Performance" is a hypothetical reconstruction based on past disclosures and does not represent the actual returns of the institution. Past performance is not indicative of future results. Tritonix.ai is not affiliated with VR Management, LLC.
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Frequently asked questions
How is the simulated portfolio for VR Management, LLC constructed?
This simulation is powered by Tritonix AI using official SEC filings. We focus on the "Best Ideas" by filtering for only the Top 20 largest holdings and rebalancing them to 100%. The simulation tracks performance starting from Oct 1, 2025. Our AI monitors for updates every Monday to capture major shifts. This concentrated approach highlights the manager's true stock-picking skill and mirrors their actual investment returns.
What is VR Management, LLC's largest holding?
As of the latest filing, VR Management, LLC's top position is Apogee Therapeutics, Inc. Common Stock (APGE), representing 32.3% of the portfolio. This reflects a high-conviction bet by the institution.
What is VR Management, LLC's historical performance and risk profile?
Our simulation indicates a total return of +142.9% with a win rate of 62%. Notably, the portfolio maintains a Sharpe Ratio of 3.68, suggesting an exceptional level of risk-adjusted returns compared to the broader market.
What sectors does VR Management, LLC primarily invest in?
VR Management, LLC has a strong preference for the Biotechnology sector, which makes up 98.7% of their disclosed assets. The portfolio also has exposure to Other, indicating a specific thematic focus.
Is VR Management, LLC's portfolio concentrated or diversified?
VR Management, LLC runs a moderately concentrated portfolio with 20 disclosed positions. The top 3 holdings alone account for 54.6% of the total portfolio weight, suggesting a strategy that favors broader market exposure.
How has VR Management, LLC performed in 2026?
Our AI-simulated model portfolio for VR Management, LLC tracks a Year-to-Date (YTD) return of +42.4%. This metric helps investors gauge the institution's effectiveness in the current market environment.
Does Bryan E. Roberts manage VR Management, LLC directly?
Yes, Bryan E. Roberts serves as the key portfolio manager for VR Management, LLC, overseeing the investment strategy and final capital allocation decisions.