Commodore Capital Portfolio holdings
Commodore Capital runs funds that back drug developers, from early-stage public companies to late-stage private ones. It aims to fill a gap it sees between traditional venture capital and public market funds. Its thesis is that small biopharma companies, not large drugmakers, drive much of the innovation in areas like genetic medicines and cell therapies. Michael Kramarz and Egen Atkinson, both medical doctors with MBAs, are its managing partners. They indirectly own a majority of the firm, which began operating in 2019. The funds are open to institutions, pension plans, endowments and high net worth individuals.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Oruka Therapeutics
ORKA
|
+$46.5M |
| 2 |
Alkermes
ALKS
|
+$40.7M |
| 3 |
Nurix Therapeutics
NRIX
|
+$37.4M |
| 4 |
CNTA
Centessa Pharmaceuticals
CNTA
|
+$16.5M |
| 5 |
Merus
MRUS
|
+$7.83M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nuvalent
NUVL
|
+$45.4M |
| 2 |
Vaxcyte
PCVX
|
+$34.7M |
| 3 |
Rhythm Pharmaceuticals
RYTM
|
+$27.6M |
| 4 |
Cogent Biosciences
COGT
|
+$21.4M |
| 5 |
Immunovant
IMVT
|
+$19.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.53% |
| 2 | Financials | 0.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
DELISTED
Merus
MRUS
| $167M | 10.46% |
3,350,000
+150,000
| +5% | +$7.83M |
2021 Q3
12 quarters
|
|
2
Vera Therapeutics
VERA
$2.23B
| $109M | 6.84% |
2,475,000
| – | – |
2023 Q1
6 quarters
|
|
3
Xenon Pharmaceuticals
XENE
$3.52B
| $106M | 6.64% |
2,700,000
-54,266
| -2% | -$2.19M |
2020 Q4
15 quarters
|
|
|
4
Vaxcyte
PCVX
$9.7B
| $105M | 6.57% |
920,000
-385,000
| -30% | -$34.7M |
2022 Q4
7 quarters
|
|
5
Enliven Therapeutics
ELVN
$3.28B
| $105M | 6.54% |
4,100,000
+126,755
| +3% | +$2.94M |
2022 Q4
7 quarters
|
|
|
6
DELISTED
Nuvalent
NUVL
| $96.2M | 6.01% |
940,000
-547,756
| -37% | -$45.4M |
2022 Q4
7 quarters
|
|
|
7
Cogent Biosciences
COGT
$5.59B
| $81.4M | 5.09% |
7,539,930
-2,198,070
| -23% | -$21.4M |
2020 Q4
15 quarters
|
|
|
8
Alkermes
ALKS
$7.59B
| $81.2M | 5.07% |
2,900,000
+1,525,000
| +111% | +$40.7M |
2024 Q2
1 quarter
|
|
9
DELISTED
Soleno Therapeutics
SLNO
| $63.6M | 3.98% |
1,260,000
-165,000
| -12% | -$7.9M |
2023 Q3
4 quarters
|
|
10
Spyre Therapeutics
SYRE
$9.32B
| $58.5M | 3.65% |
1,988,084
| – | – |
2023 Q2
5 quarters
|
|
11
Viridian Therapeutics
VRDN
$2.75B
| $58M | 3.63% |
2,550,124
+22,092
| +0.9% | +$361K |
2021 Q1
14 quarters
|
|
12
Celldex Therapeutics
CLDX
$2.33B
| $55M | 3.44% |
1,618,937
+193,937
| +14% | +$7.39M |
2022 Q1
10 quarters
|
|
13
Definium Therapeutics
DFTX
$5.12B
| $45.5M | 2.84% |
8,000,000
+854,112
| +12% | +$5.94M |
2024 Q1
2 quarters
|
|
14
Perspective Therapeutics
CATX
$143M
| $44.7M | 2.79% |
3,350,000
-1,307,345
| -28% | -$17.4M |
2024 Q1
2 quarters
|
|
|
15
Nurix Therapeutics
NRIX
$2.98B
| $37.1M | 2.32% |
+1,650,000
| New | +$37.4M |
2024 Q3
0 quarters
|
|
16
Pharvaris
PHVS
$2.3B
| $35.4M | 2.21% |
1,911,433
+101,258
| +6% | +$1.85M |
2023 Q4
3 quarters
|
|
17
Kura Oncology
KURA
$954M
| $35.2M | 2.2% |
1,800,000
+206,650
| +13% | +$4.19M |
2022 Q1
10 quarters
|
|
|
18
Rhythm Pharmaceuticals
RYTM
$6.33B
| $34.1M | 2.13% |
650,000
-575,000
| -47% | -$27.6M |
2023 Q3
4 quarters
|
|
|
19
Oruka Therapeutics
ORKA
$6.35B
| $33.6M | 2.1% |
1,369,714
+1,335,187
| +3,867% | +$46.5M |
2024 Q2
1 quarter
|
|
20
Arvinas
ARVN
$497M
| $29.6M | 1.85% |
1,200,000
-684,361
| -36% | -$17.9M |
2023 Q4
3 quarters
|
|
21
Celcuity
CELC
$3.4B
| $22.7M | 1.42% |
1,522,332
+58,227
| +4% | +$960K |
2021 Q2
13 quarters
|
|
|
CNTA
22
DELISTED
Centessa Pharmaceuticals
CNTA
| $21.6M | 1.35% |
+1,350,000
| New | +$16.5M |
2024 Q3
0 quarters
|
|
23
Nkarta
NKTX
$123M
| $21.1M | 1.32% |
4,662,073
+511,039
| +12% | +$2.9M |
2023 Q4
3 quarters
|
|
24
Oric Pharmaceuticals
ORIC
$964M
| $20.5M | 1.28% |
2,000,000
| – | – |
2024 Q1
2 quarters
|
|
25
C4 Therapeutics
CCCC
$418M
| $19.4M | 1.21% |
3,410,384
| – | – |
2023 Q4
3 quarters
|
|
Similar funds
Commodore Capital's Q3 2024 Portfolio in Review
As of Q3 2024, Commodore Capital held 38 positions worth $1.6B, up 9.2% from $1.47B the previous quarter. Its ten largest holdings account for 61% of the portfolio.
Commodore Capital's Q3 2024 filing shows 3 new, 13 increased, 9 reduced and 2 closed positions. Its largest new stake was Nurix Therapeutics: 1,650,000 shares worth $37.1M. The largest sale was Nuvalent, an estimated $45.4M.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 99% a quarter earlier, followed by Financials.
- Commodore Capital's largest Q3 2024 buy was Nurix Therapeutics: 1,650,000 shares worth $37.1M.
- Commodore Capital added most to Oruka Therapeutics in Q3 2024, an estimated $46.5M increase.
- Commodore Capital's biggest Q3 2024 reduction was Nuvalent, cutting an estimated $45.4M.
- Commodore Capital fully exited Immunovant in Q3 2024, selling an estimated $19.8M.
- Commodore Capital's ten largest holdings make up 61% of its $1.6B portfolio in Q3 2024.
- Commodore Capital opened 3 new positions and closed 2 in Q3 2024.
- Commodore Capital's portfolio value rose 9.2% quarter-over-quarter to $1.6B.
Based on Commodore Capital's 13F filing for Q3 2024, filed 14 Nov 2024.