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Cormorant Asset Management Portfolio holdings
AUM
$1.95B
1-Year Est. Return
773.9%
This Fund
S&P 500
This Quarter
Est. Return
+19.76%
1 Year Est. Return
+773.9%
3 Year Est. Return
+3,976.92%
5 Year Est. Return
+17,750.67%
10 Year Est. Return
+592,782.78%
AUM
$1.95B
AUM Growth
-$39.6M
(-2%)
Cap. Flow
-$245M
Cap. Flow
% of AUM
-12.56%
Top 10 Holdings %
Top 10 Hldgs %
59.19%
Holding
59
New
12
Increased
4
Reduced
29
Closed
9
Avg Time Held Equity + Options
6
quarters
Top 10 Avg Time Held Equity + Options
2.5
quarters
Top 20 Avg Time Held Equity + Options
3.9
quarters
Avg Time Held Equity only
6
quarters
Top 10 Avg Time Held Equity only
3.3
quarters
Top 20 Avg Time Held Equity only
4
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PBLS
Parabilis Medicines Inc
PBLS
|
+$128M |
| 2 |
Climb Bio
CLYM
|
+$21.8M |
| 3 |
Faeth Therapeutics
FTH
|
+$16.7M |
| 4 |
Spyre Therapeutics
SYRE
|
+$16.4M |
| 5 |
Adlai Nortye Group ADS
ANL
|
+$13.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Praxis Precision Medicines
PRAX
|
+$77.7M |
| 2 |
CNTA
Centessa Pharmaceuticals
CNTA
|
+$41.7M |
| 3 |
Edgewise Therapeutics
EWTX
|
+$25.9M |
| 4 |
Olema Pharmaceuticals
OLMA
|
+$23.4M |
| 5 |
MoonLake Immunotherapeutics
MLTX
|
+$23.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.09% |
| 2 | Financials | 0.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Praxis Precision Medicines
PRAX
$7.02B
| $214M | 10.98% |
640,000
-245,500
| -28% | -$77.7M |
2023 Q2
12 quarters
|
|
2
BridgeBio Oncology
BBOT
$261M
| $136M | 6.98% |
17,878,594
| – | – |
2024 Q1
9 quarters
|
|
|
PBLS
3
Parabilis Medicines Inc
PBLS
$3.58B
| $126M | 6.47% |
+4,615,612
| New | +$128M |
2026 Q2
0 quarters
|
|
4
Rapport Therapeutics
RAPP
$1.45B
| $111M | 5.67% |
2,657,521
-300,000
| -10% | -$11M |
2024 Q2
8 quarters
|
|
5
Erasca
ERAS
$5.41B
| $110M | 5.63% |
6,000,000
+200,000
| +3% | +$2.86M |
2026 Q1
1 quarter
|
|
|
6
Edgewise Therapeutics
EWTX
$4.18B
| $102M | 5.23% |
2,510,000
-750,000
| -23% | -$25.9M |
2021 Q1
21 quarters
|
|
7
EyePoint Inc
EYPT
$286M
| $100M | 5.13% |
7,000,000
-1,265,000
| -15% | -$16.9M |
2023 Q1
13 quarters
|
|
8
Alumis Inc
ALMS
$914M
| $92.5M | 4.74% |
3,285,596
-663,645
| -17% | -$15.4M |
2024 Q2
8 quarters
|
|
9
Abivax
ABVX
$7.59B
| $90M | 4.61% |
675,000
-85,000
| -11% | -$9.62M |
2023 Q4
10 quarters
|
|
10
Dianthus Therapeutics
DNTH
$4.56B
| $73.1M | 3.75% |
750,000
-200,000
| -21% | -$17.5M |
2026 Q1
1 quarter
|
|
11
Bright Minds Biosciences
DRUG
$533M
| $63.2M | 3.24% |
900,000
-159,331
| -15% | -$12.5M |
2024 Q4
6 quarters
|
|
|
12
MoonLake Immunotherapeutics
MLTX
$909M
| $62.4M | 3.2% |
3,205,433
-1,275,000
| -28% | -$23.1M |
2020 Q4
22 quarters
|
|
13
BioAge Labs
BIOA
$273M
| $58.6M | 3% |
2,390,605
-500,000
| -17% | -$9.03M |
2024 Q3
7 quarters
|
|
14
Oruka Therapeutics
ORKA
$5.32B
| $50.8M | 2.6% |
533,340
| – | – |
2025 Q3
3 quarters
|
|
|
15
Adlai Nortye Group ADS
ANL
$916M
| $45.7M | 2.34% |
3,978,229
+1,080,372
| +37% | +$13.1M |
2026 Q1
1 quarter
|
|
16
BridgeBio Pharma
BBIO
$12.9B
| $41M | 2.1% |
550,000
-300,000
| -35% | -$21M |
2019 Q2
28 quarters
|
|
17
Tango Therapeutics
TNGX
$4.08B
| $40.6M | 2.08% |
1,300,000
-125,000
| -9% | -$3.09M |
2026 Q1
1 quarter
|
|
18
Biohaven
BHVN
$1.78B
| $38.8M | 1.99% |
2,610,000
+850,000
| +48% | +$9.15M |
2022 Q4
14 quarters
|
|
19
AgomAb Therapeutics NV
AGMB
$448M
| $32M | 1.64% |
2,465,348
| – | – |
2026 Q1
1 quarter
|
|
20
MBX Biosciences
MBX
$2.51B
| $30.4M | 1.56% |
550,000
-570,000
| -51% | -$19.9M |
2024 Q3
7 quarters
|
|
|
21
Climb Bio
CLYM
$622M
| $27.5M | 1.41% |
+2,106,000
| New | +$21.8M |
2026 Q2
0 quarters
|
|
|
22
Olema Pharmaceuticals
OLMA
$644M
| $26.9M | 1.38% |
2,150,000
-1,750,000
| -45% | -$23.4M |
2025 Q4
2 quarters
|
|
|
DMRA
23
Damora Therapeutics
DMRA
$1.25B
| $26M | 1.33% |
1,000,000
-525,000
| -34% | -$12.7M |
2026 Q1
1 quarter
|
|
24
Pharvaris
PHVS
$2.17B
| $25.9M | 1.33% |
750,000
-250,000
| -25% | -$7.56M |
2021 Q1
21 quarters
|
|
25
Corbus Pharmaceuticals
CRBP
$102M
| $22M | 1.13% |
2,344,971
| – | – |
2024 Q1
9 quarters
|
|
Similar funds
AHC
FFS
GIP
SLF
BFPW
MSA
MAM
GF
Cormorant Asset Management's Q2 2026 Portfolio in Review
As of Q2 2026, Cormorant Asset Management held 59 positions worth $1.95B, down 2% from $1.99B the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Cormorant Asset Management withdrew a net $245M in Q2 2026, closing 9 positions and reducing 29 holdings. Its most notable exit was Centessa Pharmaceuticals, an estimated $41.7M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 99% a quarter earlier, followed by Financials.
Against the trend, Cormorant Asset Management opened a new position in Parabilis Medicines Inc worth $126M.
- Cormorant Asset Management's largest Q2 2026 buy was Parabilis Medicines Inc: 4,615,612 shares worth $126M.
- Cormorant Asset Management added most to Faeth Therapeutics in Q2 2026, an estimated $16.7M increase.
- Cormorant Asset Management's biggest Q2 2026 reduction was Praxis Precision Medicines, cutting an estimated $77.7M.
- Cormorant Asset Management fully exited Centessa Pharmaceuticals in Q2 2026, selling an estimated $41.7M.
- Cormorant Asset Management's ten largest holdings make up 59% of its $1.95B portfolio in Q2 2026.
- Cormorant Asset Management opened 12 new positions and closed 9 in Q2 2026.
- Cormorant Asset Management's portfolio value fell 2% quarter-over-quarter to $1.95B.
Based on Cormorant Asset Management's 13F filing for Q2 2026, filed 14 Aug 2026.