We are live on ! Find out more
CAM

Cormorant Asset Management Portfolio holdings

AUM $1.99B
1-Year Est. Return 737.95%
This Fund
S&P 500
This Quarter Est. Return
+163.13%
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
$1.45B
AUM Growth
+$107M
Cap. Flow
-$394M
Cap. Flow %
-27.19%
Top 10 Hldgs %
67.3%
Holding
44
New
2
Increased
4
Reduced
12
Closed
8

Top Buys

Rank Stock Value
1
BBOT
BridgeBio Oncology
BBOT
+$156M
2
ORKA
Oruka Therapeutics
ORKA
+$7.91M
3
MBX
MBX Biosciences
MBX
+$7.02M
4
AMLX icon
Amylyx Pharmaceuticals
AMLX
+$4.71M
5
RAPP
Rapport Therapeutics
RAPP
+$4.49M

Top Sells

Rank Stock Value
1
MLTX icon
MoonLake Immunotherapeutics
MLTX
+$339M
2
MRUS
Merus
MRUS
+$58.9M
3
VRNA
Verona Pharma
VRNA
+$33.1M
4
PRAX icon
Praxis Precision Medicines
PRAX
+$30.3M
5
SPRY icon
ARS Pharmaceuticals
SPRY
+$19.2M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BBOT
1
BridgeBio Oncology
BBOT
$659M
$207M 14.29%
17,878,594
+14,969,594
+515% +$156M
ABVX
2
Abivax
ABVX
$10.4B
$166M 11.42%
1,950,000
-180,000
-8% -$11M
EYPT icon
3
EyePoint Inc
EYPT
$999M
$119M 8.18%
8,325,000
– –
RAPP
4
Rapport Therapeutics
RAPP
$1.96B
$94.8M 6.54%
3,192,521
+251,600
+9% +$4.49M
BBIO icon
5
BridgeBio Pharma
BBIO
$16.4B
$72.7M 5.02%
1,400,000
-200,000
-13% -$9.75M
EWTX icon
6
Edgewise Therapeutics
EWTX
$4.28B
$65M 4.49%
4,010,000
-241,992
-6% -$3.43M
DRUG
7
Bright Minds Biosciences
DRUG
$697M
$64.3M 4.43%
1,059,331
– –
ACLX
8
DELISTED
Arcellx
ACLX
$63.6M 4.39%
775,000
-25,000
-3% -$1.8M
INSM icon
9
Insmed
INSM
$22.4B
$61.9M 4.27%
430,000
-110,000
-20% -$13.5M
NAMS icon
10
NewAmsterdam Pharma
NAMS
$3.26B
$61.9M 4.27%
2,175,000
– –
PRAX icon
11
Praxis Precision Medicines
PRAX
$8.11B
$53M 3.66%
1,000,000
-625,000
-38% -$30.3M
CNTA
12
DELISTED
Centessa Pharmaceuticals
CNTA
$46.7M 3.22%
1,925,000
-161,600
-8% -$2.87M
PHVS icon
13
Pharvaris
PHVS
$2.28B
$34M 2.35%
1,363,200
-91,460
-6% -$2.03M
CRBP icon
14
Corbus Pharmaceuticals
CRBP
$165M
$30M 2.07%
2,375,000
– –
GHRS icon
15
GH Research
GHRS
$1.92B
$27.4M 1.89%
1,916,439
-93,043
-5% -$1.3M
CGON icon
16
CG Oncology
CGON
$6.1B
$25.2M 1.74%
625,000
– –
KRRO icon
17
Korro Bio
KRRO
$145M
$22.3M 1.54%
465,000
– –
MBX
18
MBX Biosciences
MBX
$3.04B
$21.4M 1.48%
1,225,000
+525,000
+75% +$7.02M
MTSR
19
DELISTED
Metsera Inc
MTSR
$20.9M 1.44%
400,000
– –
JANX icon
20
Janux Therapeutics
JANX
$912M
$20.8M 1.43%
850,000
-650,000
-43% -$15.8M
TARS icon
21
Tarsus Pharmaceuticals
TARS
$2.55B
$17.8M 1.23%
300,000
– –
CRNX icon
22
Crinetics Pharmaceuticals
CRNX
$8.88B
$16.7M 1.15%
400,000
– –
ENGN icon
23
enGene Therapeutics
ENGN
$120M
$15.9M 1.1%
2,323,595
– –
ARQT icon
24
Arcutis Biotherapeutics
ARQT
$3.48B
$14.6M 1.01%
775,000
-225,000
-23% -$3.55M
MLTX icon
25
MoonLake Immunotherapeutics
MLTX
$1.56B
$14.3M 0.99%
1,994,173
-6,499,978
-77% -$339M
1
2

Similar funds

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
CCA
Checchi Capital Advisers Beverly Hills, California $1.98B AUM 19.17% 1-Year Est. Return
LBC
Lowe Brockenbrough & Co Richmond, Virginia $2.01B AUM 22.05% 1-Year Est. Return
C
Consulta London, United Kingdom $2.01B AUM 16.82% 1-Year Est. Return

Cormorant Asset Management's Q3 2025 Portfolio in Review

As of Q3 2025, Cormorant Asset Management held 44 positions worth $1.45B, up 8% from $1.34B the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Cormorant Asset Management withdrew a net $394M in Q3 2025, closing 8 positions and reducing 12 holdings. Its most notable exit was Merus, an estimated $58.9M position sold in full.

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

Against the trend, Cormorant Asset Management opened a new position in Oruka Therapeutics worth $10.3M.

  • Cormorant Asset Management's largest Q3 2025 buy was Oruka Therapeutics: 533,340 shares worth $10.3M.
  • Cormorant Asset Management added most to BridgeBio Oncology in Q3 2025, an estimated $156M increase.
  • Cormorant Asset Management's biggest Q3 2025 reduction was MoonLake Immunotherapeutics, cutting an estimated $339M.
  • Cormorant Asset Management fully exited Merus in Q3 2025, selling an estimated $58.9M.
  • Cormorant Asset Management's ten largest holdings make up 67% of its $1.45B portfolio in Q3 2025.
  • Cormorant Asset Management opened 2 new positions and closed 8 in Q3 2025.
  • Cormorant Asset Management's portfolio value rose 8% quarter-over-quarter to $1.45B.

Based on Cormorant Asset Management's 13F filing for Q3 2025, filed 14 Nov 2025.