CIK: 0001583977
Total reported value
$2.0B
Reporting period: 2026-03-31 · Number of holdings: 47
Cormorant Asset Management, LP disclosed 47 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $2.0B and a quarterly turnover rate of 63.7%.
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Cormorant Asset Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.052 — mathematically equivalent to about 19 equally-sized positions, well below its 47 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.19), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 7% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim ABVX
-43.7% -$97.4M
Add ALMS
+8.6% $51.5M
Trim BBOT
0.0% -$63.8M
Trim EYPT
0.0% -$44.5M
Add MLTX
+2.9% $26.1M
Add EWTX
-0.8% $21.2M
Showing top 46 holdings (of 47 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | PRAX | Praxis Precision Medicines I | Stock-Other | 14.33% | +1.38% | -6.79% | |
| 2 | BBOT | Bridgebio Oncology Therapeut | Stock-Other | 8.04% | -2.31% | — | |
| 3 | EYPT | Eyepoint INC | Stock-Other | 5.35% | -1.63% | — | |
| 4 | EWTX | Edgewise Therapeutics INC | Stock-Other | 5.16% | +1.39% | -0.76% | |
| 5 | ERAS | Erasca INC | Stock-Other | 4.71% | +4.71% | NEW | |
| 6 | RAPP | Rapport Therapeutics INC | Stock-Other | 4.65% | +0.40% | -2.31% | |
| 7 | ALMS | Alumis INC | Stock-Other | 4.37% | +2.73% | +8.63% | |
| 8 | ABVX | Abivax Sa-adr | Stock-Other | 4.25% | -4.17% | -43.70% | |
| 9 | MLTX | Moonlake Immunotherapeutics | Stock-Other | 4.19% | +1.54% | +2.87% | |
| 10 | DNTH | Dianthus Therapeutics INC | Stock-Other | 4.00% | +4.00% | NEW | |
| 11 | DRUG | Bright Minds Biosciences INC | Stock-Other | 3.88% | +0.06% | — | |
| 12 | OLMA | Olema Pharmaceuticals INC | Stock-Other | 3.29% | +0.12% | +60.00% | |
| 13 | BBIO | Bridgebio Pharma INC | Stock-Healthcare | 3.17% | -1.07% | -29.17% | |
| 14 | BIOA | Bioage Labs INC | Stock-Other | 2.54% | +1.29% | +41.65% | |
| 15 | 260 | Centessa Pharmaceuticals-adr | Stock-Other | 2.09% | +0.56% | -20.75% | |
| 16 | DMRA | Damora Therapeutics INC | Stock-Other | 1.98% | +1.98% | NEW | |
| 17 | MBX | Mbx Biosciences INC | Stock-Other | 1.68% | +0.05% | — | |
| 18 | INSM | Insmed INC | Stock-Healthcare | 1.56% | -0.65% | -30.91% | |
| 19 | NAMS | NewAmsterdam Pharma Company N.V. | Stock-Other | 1.53% | -0.09% | -5.00% | |
| 20 | TNGX | Tango Therapeutics INC | Stock-Other | 1.50% | +1.50% | NEW | |
| 21 | PHVS | Pharvaris N.V. | Stock-Other | 1.42% | +0.03% | -7.66% | |
| 22 | ORKA | Oruka Therapeutics INC | Stock-Other | 1.31% | +0.56% | — | |
| 23 | AGMB | Agomab Therapeutics NV | Stock-Other | 1.30% | +1.30% | NEW | |
| 24 | MAZE | Maze Therapeutics INC | Stock-Other | 1.12% | +1.12% | NEW | |
| 25 | CRBP | Corbus Pharmaceuticals Holdi | Stock-Other | 1.11% | +0.23% | — | |
| 26 | ASND | Ascendis Pharma A/S | Stock-Other | 1.09% | +0.10% | -5.00% | |
| 27 | ROIV | Roivant Sciences Ltd. | Stock-Healthcare | 1.04% | +1.04% | NEW | |
| 28 | ANL | Adlai Nortye Ltd-adr | Stock-Other | 1.01% | +1.01% | NEW | |
| 29 | 430 | Terns Pharmaceuticals INC | Stock-Other | 0.79% | +0.79% | NEW | |
| 30 | TARS | Tarsus Pharmaceuticals INC | Stock-Other | 0.79% | -0.16% | -10.00% | |
| 31 | BHVN | Biohaven Ltd. | Stock-Other | 0.75% | +0.74% | +17500.00% | |
| 32 | CABA | Cabaletta Bio INC | Stock-Other | 0.74% | +0.29% | +25.00% | |
| 33 | ✓ | Helix Acquisition CORP Iii | Stock-Other | 0.66% | +0.66% | NEW | |
| 34 | ARQT | Arcutis Biotherapeutics INC | Stock-Other | 0.53% | -0.14% | -10.00% | |
| 35 | FTH | Faeth Therapeutics INC | Stock-Other | 0.48% | +0.48% | NEW | |
| 36 | CRNX | Crinetics Pharmaceuticals In | Stock-Other | 0.46% | -0.19% | -16.67% | |
| 37 | ✓ | Zura Bio LTD | Stock-Other | 0.43% | +0.43% | NEW | |
| 38 | AXSM | Axsome Therapeutics INC | Stock-Healthcare | 0.42% | -0.21% | -33.33% | |
| 39 | GPCR | Structure Therapeutics INC | Stock-Other | 0.42% | +0.42% | NEW | |
| 40 | COGT | Cogent Biosciences INC | Stock-Other | 0.39% | +0.02% | -11.11% | |
| 41 | GLUE | Monte Rosa Therapeutics INC | Stock-Other | 0.33% | +0.33% | NEW | |
| 42 | ARWR | Arrowhead Pharmaceuticals In | Stock-Healthcare | 0.31% | +0.31% | NEW | |
| 43 | PCVX | Vaxcyte INC | Stock-Other | 0.29% | — | -20.00% | |
| 44 | AMLX | Amylyx Pharmaceuticals INC | Stock-Other | 0.24% | — | -12.50% | |
| 45 | RLYB | Rallybio CORP | Stock-Other | 0.18% | +0.18% | NEW | |
| 46 | CNTX | Context Therapeutics INC | Stock-Other | 0.07% | +0.07% | NEW |
Performance for Q3 2026
+11.8%
Performance Last 4 Quarters
+29.2%
Based on 77% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 47 | $2.0B | 64 | |
| 2025-12-31 | 35 | $2.2B | 68 | |
| 2025-09-30 | 36 | $1.4B | 89 | |
| 2025-06-30 | 42 | $1.3B | 0 | |
| 2025-03-31 | 44 | $1.3B | 100 | |
| 2024-12-31 | 48 | $1.8B | 0 | |
| 2024-09-30 | 45 | $1.9B | 0 | |
| 2024-06-30 | 49 | $1.7B | 0 | |
| 2024-03-31 | 57 | $2.3B | 0 | |
| 2023-12-31 | 48 | $2.1B | 0 | |
| 2023-09-30 | 49 | $1.7B | 0 | |
| 2023-06-30 | 64 | $1.8B | 0 | |
| 2023-03-31 | 72 | $1.5B | 0 | |
| 2022-12-31 | 73 | $1.5B | 0 | |
| 2022-09-30 | 73 | $1.4B | 0 | |
| 2022-06-30 | 80 | $1.3B | 0 | |
| 2022-03-31 | 77 | $1.3B | 0 | |
| 2021-12-31 | 78 | $1.7B | 0 | |
| 2021-09-30 | 88 | $2.5B | 0 | |
| 2021-06-30 | 104 | $2.9B | 72 | |
| 2021-03-31 | 120 | $4.5B | 60 | |
| 2020-12-31 | 105 | $4.2B | 67 | |
| 2020-09-30 | 93 | $2.6B | 37 | |
| 2020-06-30 | 81 | $2.6B | 53 | |
| 2020-03-31 | 73 | $2.2B | 65 | |
| 2019-12-31 | 67 | $2.5B | 66 | |
| 2019-09-30 | 75 | $1.6B | 38 | |
| 2019-06-30 | 72 | $1.7B | 57 | |
| 2019-03-31 | 64 | $1.5B | 77 | |
| 2018-12-31 | 70 | $1.2B | 58 | |
| 2018-09-30 | 65 | $1.5B | 39 | |
| 2018-06-30 | 58 | $1.4B | 58 | |
| 2018-03-31 | 52 | $1.3B | 58 | |
| 2017-12-31 | 52 | $955.3M | 100 | |
| 2017-09-30 | 51 | $566.4M | 71 | |
| 2017-06-30 | 71 | $603.3M | 57 | |
| 2017-03-31 | 75 | $688.7M | 36 | |
| 2016-12-31 | 77 | $741.8M | 42 | |
| 2016-09-30 | 84 | $906.8M | 62 | |
| 2016-06-30 | 84 | $705.2M | 50 | |
| 2016-03-31 | 84 | $663.8M | 49 | |
| 2015-12-31 | 82 | $835.9M | 43 | |
| 2015-09-30 | 87 | $626.1M | 40 | |
| 2015-06-30 | 80 | $752.2M | 58 | |
| 2015-03-31 | 71 | $647.1M | 48 | |
| 2014-12-31 | 70 | $648.5M | 79 | |
| 2014-09-30 | 65 | $486.2M | 80 | |
| 2014-06-30 | 54 | $377.4M | 87 | |
| 2014-03-31 | 46 | $434.9M | 90 | |
| 2013-12-31 | 37 | $344.6M | 0 |
Cormorant Asset Management, LP's most significant position changes for 2026-03-31: Sold out: Invesco Qqq Trust Series 1 (QQQ); Sold out: Ishares Russell 2000 ETF (IWM); Sold out: Ss Spdr S&p Biotech ETF (XBI); New buy: Erasca INC (ERAS); New buy: Dianthus Therapeutics INC (DNTH).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ALMS | Alumis INC | +2.7% | +8.63% | Add |
| 2 | MLTX | Moonlake Immunotherapeutics | +1.5% | +2.87% | Add |
| 3 | EWTX | Edgewise Therapeutics INC | +1.4% | -0.76% | Trim |
| 4 | PRAX | Praxis Precision Medicines I | +1.4% | -6.79% | Trim |
| 5 | BIOA | Bioage Labs INC | +1.3% | +41.65% | Add |
| 6 | BHVN | Biohaven Ltd. | +0.7% | +17500.00% | Add |
| 7 | ORKA | Oruka Therapeutics INC | +0.6% | — | Unchanged |
| 8 | 260 | Centessa Pharmaceuticals-adr | +0.6% | -20.75% | Trim |
| 9 | RAPP | Rapport Therapeutics INC | +0.4% | -2.31% | Trim |
| 10 | CABA | Cabaletta Bio INC | +0.3% | +25.00% | Add |
| 11 | CRBP | Corbus Pharmaceuticals Holdi | +0.2% | — | Unchanged |
| 12 | OLMA | Olema Pharmaceuticals INC | +0.1% | +60.00% | Add |
| 13 | ASND | Ascendis Pharma A/S | +0.1% | -5.00% | Trim |
| 14 | DRUG | Bright Minds Biosciences INC | +0.1% | — | Unchanged |
| 15 | MBX | Mbx Biosciences INC | +0.1% | — | Unchanged |
| 16 | PHVS | Pharvaris N.V. | 0% | -7.66% | Trim |
| 17 | COGT | Cogent Biosciences INC | 0% | -11.11% | Trim |
| 18 | NAMS | NewAmsterdam Pharma Company N.V. | -0.1% | -5.00% | Trim |
| 19 | ARQT | Arcutis Biotherapeutics INC | -0.1% | -10.00% | Trim |
| 20 | TARS | Tarsus Pharmaceuticals INC | -0.2% | -10.00% | Trim |
| 21 | CRNX | Crinetics Pharmaceuticals In | -0.2% | -16.67% | Trim |
| 22 | AXSM | Axsome Therapeutics INC | -0.2% | -33.33% | Trim |
| 23 | INSM | Insmed INC | -0.7% | -30.91% | Trim |
| 24 | BBIO | Bridgebio Pharma INC | -1.1% | -29.17% | Trim |
| 25 | EYPT | Eyepoint INC | -1.6% | — | Unchanged |
| 26 | BBOT | Bridgebio Oncology Therapeut | -2.3% | — | Unchanged |
| 27 | ABVX | Abivax Sa-adr | -4.2% | -43.70% | Trim |
| 28 | QQQ | Invesco Qqq Trust Series 1 | — | EXIT | Sold out |
| 29 | IWM | Ishares Russell 2000 ETF | — | EXIT | Sold out |
| 30 | XBI | Ss Spdr S&p Biotech ETF | — | EXIT | Sold out |
| 31 | ERAS | Erasca INC | — | NEW | New buy |
| 32 | DNTH | Dianthus Therapeutics INC | — | NEW | New buy |
| 33 | DMRA | Damora Therapeutics INC | — | NEW | New buy |
| 34 | ✓ | Engene Holdings INC | — | EXIT | Sold out |
| 35 | TNGX | Tango Therapeutics INC | — | NEW | New buy |
| 36 | AGMB | Agomab Therapeutics NV | — | NEW | New buy |
| 37 | MAZE | Maze Therapeutics INC | — | NEW | New buy |
| 38 | ROIV | Roivant Sciences Ltd. | — | NEW | New buy |
| 39 | ANL | Adlai Nortye Ltd-adr | — | NEW | New buy |
| 40 | GHRS | GH Research PLC | — | EXIT | Sold out |
| 41 | 430 | Terns Pharmaceuticals INC | — | NEW | New buy |
| 42 | ✓ | Helix Acquisition CORP Iii | — | NEW | New buy |
| 43 | FTH | Faeth Therapeutics INC | — | NEW | New buy |
| 44 | JANX | Janux Therapeutics INC | — | EXIT | Sold out |
| 45 | ✓ | Zura Bio LTD | — | NEW | New buy |
| 46 | GPCR | Structure Therapeutics INC | — | NEW | New buy |
| 47 | GLUE | Monte Rosa Therapeutics INC | — | NEW | New buy |
| 48 | ARWR | Arrowhead Pharmaceuticals In | — | NEW | New buy |
| 49 | RLYB | Rallybio CORP | — | NEW | New buy |
| 50 | CNTX | Context Therapeutics INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-17 | Amendment | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
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