ArriVent (AVBP) 13G/A: Suvretta and Averill Disclose Major Stakes

Rhea-AI Filing Summary

ArriVent BioPharma (AVBP) is shown in this Schedule 13G/A as having substantial stakes held by Suvretta Capital Management, LLC and related parties. Suvretta and Aaron Cowen each report shared beneficial ownership of 3,412,788 shares, representing 9.9% of the company’s common stock, while Averill Master Fund, Ltd. reports 2,969,098 shares or 8.7%. All reported shares are held with shared voting and shared dispositive power; none of the reporting persons claim sole voting or sole dispositive power.

The filing states that the securities are directly owned by advisory clients of Suvretta (with Averill identified separately) and includes a certification that the holdings were not acquired to change or influence control. Exhibits listed include a joint filing agreement and control-person identification.

Positive

• Material disclosure of ownership: Suvretta/Aaron Cowen report 3,412,788 shares (9.9%) and Averill reports 2,969,098 shares (8.7%) of AVBP.
• Clear voting/dispositive reporting: All holdings are reported with shared voting and shared dispositive power; sole powers are reported as 0.
• Passive intent certified: Item 10 certification states the securities were not acquired to change or influence control.

Negative

• No sole control reported: Reporting persons indicate 0 shares with sole voting or dispositive power, implying no single filer can unilaterally direct votes or dispositions.
• Ownership held via advisory clients: All reported securities are directly owned by Suvretta advisory clients (other than Averill), and those clients (except Averill) are stated as not exceeding 5%, which can limit direct identification of final beneficial owners.

Insights

Financial Analyst

TL;DR: Two related reporting persons disclose near-double-digit stakes, signaling notable passive positions in AVBP.

The filing documents significant passive holdings: Suvretta and Aaron Cowen each report 3,412,788 shares (9.9%) and Averill reports 2,969,098 shares (8.7%). Holdings are reported as having shared voting and dispositive power with no sole control. Because the filers used Schedule 13G/A and included a certification they did not acquire the securities to influence control, the positions appear disclosed as passive investment stakes rather than activist positions. For investors, these are material ownership concentrations above the 5% disclosure threshold that may affect liquidity and vote outcomes, but the filing provides no indication of plans to change governance or strategy.

Corporate Governance Expert

TL;DR: Material share concentrations are disclosed, but reported shared control and a passive certification limit immediate governance implications.

The report identifies significant ownership blocks held via advisory clients and an affiliated fund, with all reported shares under shared voting/dispositive power and no sole voting or dispositive power. The signature block and Item 10 certification explicitly state the holdings were not acquired to change control, which supports a passive classification. From a governance perspective, these holdings cross the materiality threshold and warrant monitoring for future amendments or Schedule 13D filings, but this filing itself does not allege intent to pursue control or proposals.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

ArriVent BioPharma, Inc.

(Name of Issuer)

Common Stock, $0.0001 Par Value per Share

(Title of Class of Securities)

04272N102

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 04272N102

1

Names of Reporting Persons

Suvretta Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,412,788.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,412,788.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,412,788.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No. 04272N102

1

Names of Reporting Persons

Averill Master Fund, Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,969,098.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,969,098.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,969,098.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.7 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 04272N102

1

Names of Reporting Persons

Aaron Cowen

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,412,788.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,412,788.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,412,788.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.9 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ArriVent BioPharma, Inc.
(b)	Address of issuer's principal executive offices: 18 Campus Boulevard, Suite 100, Newtown Square, Pennsylvania 19073
Item 2.
(a)	Name of person filing: Suvretta Capital Management, LLC Averill Master Fund, Ltd. Aaron Cowen
(b)	Address or principal business office or, if none, residence: Suvretta Capital Management, LLC 540 Madison Avenue, 7th Floor New York, New York 10022 United States of America Averill Master Fund, Ltd. c/o Maples Corporate Services Limited P.O. Box 309 Ugland House Grand Cayman KY1-1104 Cayman Islands Aaron Cowen c/o Suvretta Capital Management, LLC 540 Madison Avenue, 7th Floor New York, New York 10022
(c)	Citizenship: Suvretta Capital Management, LLC - Delaware Averill Master Fund, Ltd. - Cayman Islands Aaron Cowen - United States
(d)	Title of class of securities: Common Stock, $0.0001 Par Value per Share
(e)	CUSIP No.: 04272N102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Suvretta Capital Management, LLC - 3,412,788 Averill Master Fund, Ltd. - 2,969,098 Aaron Cowen - 3,412,788
(b)	Percent of class: Suvretta Capital Management, LLC - 9.9% Averill Master Fund, Ltd. - 8.7% Aaron Cowen - 9.9%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Suvretta Capital Management, LLC - 0 Averill Master Fund, Ltd. - 0 Aaron Cowen - 0
	(ii) Shared power to vote or to direct the vote: Suvretta Capital Management, LLC - 3,412,788 Averill Master Fund, Ltd. - 2,969,098 Aaron Cowen - 3,412,788
	(iii) Sole power to dispose or to direct the disposition of: Suvretta Capital Management, LLC - 0 Averill Master Fund, Ltd. - 0 Aaron Cowen - 0
	(iv) Shared power to dispose or to direct the disposition of: Suvretta Capital Management, LLC - 3,412,788 Averill Master Fund, Ltd. - 2,969,098 Aaron Cowen - 3,412,788
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. All of the securities reported in this Schedule 13G Amendment No. 1 are directly owned by advisory clients of Suvretta Capital Management, LLC. None of those advisory clients, other than Averill Master Fund, Ltd., may be deemed to beneficially own more than 5% of the Common Stock, $0.0001 Par Value per Share.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Please see Exhibit B attached hereto.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Suvretta Capital Management, LLC

Signature:	/s/ Andrew Nathanson
Name/Title:	Andrew Nathanson/General Counsel and Chief Compliance Officer
Date:	08/13/2025

Averill Master Fund, Ltd.

Signature:	/s/ Andrew Nathanson
Name/Title:	Andrew Nathanson/Authorized Signatory
Date:	08/13/2025

Aaron Cowen

Signature:	/s/ Aaron Cowen
Name/Title:	Aaron Cowen
Date:	08/13/2025

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

Exhibit Information

[Exhibit A - Joint Filing Agreement] [Exhibit B - Control Person Identification]

FAQ

How many AVBP shares does Suvretta Capital report owning?

Suvretta Capital Management, LLC reports shared beneficial ownership of 3,412,788 shares of AVBP, equal to 9.9% of the class.

What stake does Averill Master Fund report in AVBP?

Averill Master Fund, Ltd. reports ownership of 2,969,098 shares, representing 8.7% of AVBP common stock.

Do any reporting persons have sole voting or dispositive power over the AVBP shares?

No. The filing shows 0 shares with sole voting power and 0 shares with sole dispositive power for each reporting person; powers are reported as shared.

Are these holdings reported as passive or active?

The filing includes a certification under Item 10 that the securities were not acquired to change or influence control, consistent with a passive Schedule 13G/A disclosure.

Who signed the Schedule 13G/A for the reporting parties?

Signatures include Andrew Nathanson for Suvretta Capital and Averill (as authorized signatory) and Aaron Cowen for himself, each certifying the filing.