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Cormorant Asset Management Portfolio holdings

AUM $1.99B
1-Year Est. Return 737.95%
This Fund
S&P 500
This Quarter Est. Return
+14.84%
1 Year Est. Return
+737.95%
3 Year Est. Return
+5,256.52%
5 Year Est. Return
+13,483.26%
10 Year Est. Return
+564,575.55%
AUM
$1.34B
AUM Growth
+$12.5M
Cap. Flow
-$84.5M
Cap. Flow %
-6.29%
Top 10 Hldgs %
67.96%
Holding
47
New
3
Increased
4
Reduced
16
Closed
5

Top Buys

Rank Stock Value
1
VRNA
Verona Pharma
VRNA
+$25.9M
2
MRUS
Merus
MRUS
+$17.9M
3
CABA icon
Cabaletta Bio
CABA
+$7.8M
4
EWTX icon
Edgewise Therapeutics
EWTX
+$2.16M
5
YARW
Yarrow Bioscience, Inc. Common Stock
YARW
+$1.78M

Top Sells

Rank Stock Value
1
AXSM icon
Axsome Therapeutics
AXSM
+$15.9M
2
ACLX
Arcellx
ACLX
+$15.6M
3
BBIO icon
BridgeBio Pharma
BBIO
+$14.5M
4
JANX icon
Janux Therapeutics
JANX
+$13.2M
5
NAMS icon
NewAmsterdam Pharma
NAMS
+$11.9M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MTSR
26
DELISTED
Metsera Inc
MTSR
$11.4M 0.85%
400,000
– –
AARD
27
Aardvark Therapeutics
AARD
$165M
$10.8M 0.81%
800,189
– –
AXSM icon
28
Axsome Therapeutics
AXSM
$11B
$10.4M 0.78%
100,000
-150,000
-60% -$15.9M
BIOA
29
BioAge Labs
BIOA
$488M
$8.84M 0.66%
2,140,605
-488,924
-19% -$1.97M
ENGN icon
30
enGene Therapeutics
ENGN
$121M
$8.46M 0.63%
2,323,595
– –
MBX
31
MBX Biosciences
MBX
$3.21B
$7.99M 0.59%
700,000
– –
CABA icon
32
Cabaletta Bio
CABA
$442M
$7.6M 0.57%
+5,000,000
New +$7.8M
ALMS
33
Alumis Inc
ALMS
$3.46B
$6.44M 0.48%
2,147,396
– –
BMEA icon
34
Biomea Fusion
BMEA
$91.1M
$6.43M 0.48%
3,570,872
– –
KRRO icon
35
Korro Bio
KRRO
$166M
$5.81M 0.43%
465,000
+84,697
+22% +$1.22M
PCVX icon
36
Vaxcyte
PCVX
$8.07B
$5.69M 0.42%
175,000
– –
RNAM
37
DELISTED
Avidity Biosciences
RNAM
$5.68M 0.42%
200,000
-200,000
-50% -$5.96M
ELVN icon
38
Enliven Therapeutics
ELVN
$4.26B
$4.01M 0.3%
200,000
-50,000
-20% -$947K
STOK icon
39
Stoke Therapeutics
STOK
$1.99B
$2.88M 0.21%
254,161
– –
KALA icon
40
KALA BIO
KALA
$13.6M
$2.87M 0.21%
12,061
– –
YARW
41
Yarrow Bioscience, Inc. Common Stock
YARW
$25.2M
$2.26M 0.17%
+27,419
New +$1.78M
BHVN icon
42
Biohaven
BHVN
$2.05B
$141K 0.01%
10,000
– –
JANX icon
43
CALL
Janux Therapeutics
JANX
$976M
– –
-150,000
Closed -$4.05M
NAMS icon
44
CALL
NewAmsterdam Pharma
NAMS
$3.21B
– –
-250,000
Closed -$5.12M
PLRX icon
45
Pliant Therapeutics
PLRX
$65M
– –
-3,000,000
Closed -$4.05M
RYTM icon
46
Rhythm Pharmaceuticals
RYTM
$7.59B
– –
-150,000
Closed -$7.95M
OKUR
47
OnKure Therapeutics
OKUR
$168M
– –
-1,837,739
Closed -$7.9M
1
2

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SC
Syon Capital San Francisco, California $1.99B AUM 22.67% 1-Year Est. Return
RMCM
Reynders McVeigh Capital Management Boston, Massachusetts $1.98B AUM 23.37% 1-Year Est. Return
RCM
Rivernorth Capital Management West Palm Beach, Florida $2B AUM 0.66% 1-Year Est. Return
LGM
Logos Global Management San Francisco, California $2B AUM 444.09% 1-Year Est. Return
MYAM
Meiji Yasuda Asset Management Tokyo, Japan $2B AUM 22.52% 1-Year Est. Return
C
Consulta London, United Kingdom $2.01B AUM 16.82% 1-Year Est. Return
TCM
Tang Capital Management San Diego, California $1.97B AUM 125.1% 1-Year Est. Return
BGM
Burkehill Global Management New York $2.02B AUM 85.32% 1-Year Est. Return

Cormorant Asset Management's Q2 2025 Portfolio in Review

As of Q2 2025, Cormorant Asset Management held 47 positions worth $1.34B, up 0.94% from $1.33B the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Cormorant Asset Management withdrew a net $84.5M in Q2 2025, closing 5 positions and reducing 16 holdings. Its most notable exit was Rhythm Pharmaceuticals, an estimated $7.95M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 99% a quarter earlier.

Against the trend, Cormorant Asset Management opened a new position in Verona Pharma worth $33.1M.

  • Cormorant Asset Management's largest Q2 2025 buy was Verona Pharma: 350,000 shares worth $33.1M.
  • Cormorant Asset Management added most to Merus in Q2 2025, an estimated $17.9M increase.
  • Cormorant Asset Management's biggest Q2 2025 reduction was Axsome Therapeutics, cutting an estimated $15.9M.
  • Cormorant Asset Management fully exited Rhythm Pharmaceuticals in Q2 2025, selling an estimated $7.95M.
  • Cormorant Asset Management's ten largest holdings make up 68% of its $1.34B portfolio in Q2 2025.
  • Cormorant Asset Management opened 3 new positions and closed 5 in Q2 2025.
  • Cormorant Asset Management's portfolio value rose 0.94% quarter-over-quarter to $1.34B.

Based on Cormorant Asset Management's 13F filing for Q2 2025, filed 14 Aug 2025.