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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
+33.7%
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
$1.99B
AUM Growth
-$172M
Cap. Flow
+$217M
Cap. Flow %
10.88%
Top 10 Hldgs %
59.05%
Holding
53
New
18
Increased
6
Reduced
17
Closed
6

Top Buys

Rank Stock Value
1
ERAS icon
Erasca
ERAS
+$68.6M
2
DNTH icon
Dianthus Therapeutics
DNTH
+$55M
3
DMRA
Damora Therapeutics
DMRA
+$39.2M
4
AGMB
AgomAb Therapeutics NV
AGMB
+$34.9M
5
MAZE
Maze Therapeutics
MAZE
+$33.1M

Top Sells

Rank Stock Value
1
ABVX
Abivax
ABVX
+$69.8M
2
ENGN icon
enGene Therapeutics
ENGN
+$36.1M
3
BBIO icon
BridgeBio Pharma
BBIO
+$25.4M
4
PRAX icon
Praxis Precision Medicines
PRAX
+$20M
5
GHRS icon
GH Research
GHRS
+$16.5M

Sector Composition

Rank Sector Weight
1 Healthcare 98.96%
2 Financials 0.66%
3 Miscellaneous 0.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ASND icon
26
Ascendis Pharma A/S
ASND
$16.3B
$21.7M 1.09%
95,000
-5,000
-5% -$1.12M
ROIV icon
27
Roivant Sciences
ROIV
$25.1B
$20.8M 1.04%
+750,000
New +$19.3M
ANL
28
Adlai Nortye Group ADS
ANL
$890M
$20.1M 1.01%
+2,897,857
New +$19.4M
TERN
29
DELISTED
Terns Pharmaceuticals
TERN
$15.8M 0.79%
+300,000
New +$12.3M
TARS icon
30
Tarsus Pharmaceuticals
TARS
$3.15B
$15.8M 0.79%
225,000
-25,000
-10% -$1.75M
BHVN icon
31
Biohaven
BHVN
$2.33B
$14.9M 0.75%
1,760,000
+1,750,000
+17,500% +$19.1M
CABA icon
32
Cabaletta Bio
CABA
$529M
$14.8M 0.74%
5,500,000
+1,100,000
+25% +$3.05M
HLXC
33
Helix Acquisition Corp III
HLXC
$241M
$13.2M 0.66%
+1,297,500
New +$13.3M
ARQT icon
34
Arcutis Biotherapeutics
ARQT
$2.99B
$10.6M 0.53%
450,000
-50,000
-10% -$1.28M
FTH
35
Faeth Therapeutics
FTH
$874M
$9.65M 0.48%
+306,222
New +$6.12M
CRNX icon
36
Crinetics Pharmaceuticals
CRNX
$9B
$9.08M 0.46%
250,000
-50,000
-17% -$2.23M
ZURA icon
37
Zura Bio
ZURA
$548M
$8.63M 0.43%
+1,450,000
New +$8.76M
AXSM icon
38
Axsome Therapeutics
AXSM
$10.4B
$8.45M 0.42%
50,000
-25,000
-33% -$4.32M
GPCR icon
39
Structure Therapeutics
GPCR
$3.38B
$8.44M 0.42%
+175,000
New +$12M
COGT icon
40
Cogent Biosciences
COGT
$6.02B
$7.7M 0.39%
200,000
-25,000
-11% -$923K
OLMA icon
41
CALL
Olema Pharmaceuticals
OLMA
$899M
$7.46M 0.37%
+500,000
New +$11.1M
GLUE icon
42
Monte Rosa Therapeutics
GLUE
$1.14B
$6.58M 0.33%
+400,000
New +$7.65M
ARWR icon
43
Arrowhead Research
ARWR
$12B
$6.27M 0.31%
+100,000
New +$6.33M
PCVX icon
44
Vaxcyte
PCVX
$8.9B
$5.81M 0.29%
100,000
-25,000
-20% -$1.36M
AMLX icon
45
Amylyx Pharmaceuticals
AMLX
$3.87B
$4.87M 0.24%
350,000
-50,000
-13% -$703K
RLYB icon
46
Rallybio
RLYB
$89.3M
$3.59M 0.18%
+400,000
New +$2.73M
CNTX icon
47
Context Therapeutics
CNTX
$35.3M
$1.39M 0.07%
+529,550
New +$1.24M
ENGN icon
48
enGene Therapeutics
ENGN
$122M
– –
-4,000,000
Closed -$36.1M
GHRS icon
49
GH Research
GHRS
$1.92B
– –
-1,300,000
Closed -$16.5M
IWM icon
50
PUT
iShares Russell 2000 ETF
IWM
$80.8B
– –
-500,000
Closed -$123M
1
2
3

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Cormorant Asset Management's Q1 2026 Portfolio in Review

As of Q1 2026, Cormorant Asset Management held 53 positions worth $1.99B, down 7.9% from $2.16B the previous quarter. Its ten largest holdings account for 59% of the portfolio.

Cormorant Asset Management deployed $217M of net new capital in Q1 2026, opening 18 new positions and adding to 6 existing holdings. Its largest new stake was Erasca: 5,800,000 shares worth $93.8M.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 82% a quarter earlier, followed by Financials and Miscellaneous.

On the sell side, the largest reduction was Abivax, an estimated $69.8M trimmed.

  • Cormorant Asset Management's largest Q1 2026 buy was Erasca: 5,800,000 shares worth $93.8M.
  • Cormorant Asset Management added most to Olema Pharmaceuticals in Q1 2026, an estimated $25.6M increase.
  • Cormorant Asset Management's biggest Q1 2026 reduction was Abivax, cutting an estimated $69.8M.
  • Cormorant Asset Management fully exited enGene Therapeutics in Q1 2026, selling an estimated $36.1M.
  • Cormorant Asset Management's ten largest holdings make up 59% of its $1.99B portfolio in Q1 2026.
  • Cormorant Asset Management opened 18 new positions and closed 6 in Q1 2026.
  • Cormorant Asset Management's portfolio value fell 7.9% quarter-over-quarter to $1.99B.

Based on Cormorant Asset Management's 13F filing for Q1 2026, filed 15 May 2026.