Foresite Capital Management IV, LLC

The portfolio experienced significant growth during the quarter, with the total value increasing by 36.6% (rising from $123.80M). This appreciation is likely driven by a combination of positive market performance in existing holdings and substantial capital inflows, evidenced by the aggressive purchasing activity in the top position. The management strategy favors focused exposure over broad risk mitigation, allocating the vast majority of capital to a select few opportunities.

2. Key Holdings

The portfolio is dominated by a single "bet" on Pharvaris N.V., which constitutes a massive 70.52% of the total portfolio value ($119.23M). This position was increased by 8.3% during the quarter, with an additional $41.60M deployed, bringing the total share count to 4.78M. This indicates an extremely high conviction in the company's prospects.