Q2 2026 13F · SEC CIK 1583977

Cormorant Asset Management, LP

Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $2.0B
Reported positions: 50
Top holdings a year, 3 yrs: +15.0%
Assets under management: $3.8B

Cormorant Asset Management, LP is a hedge fund that reported 50 positions worth $2.0B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Praxis Precision Medicines I (PRAX, 11.0%), Bridgebio Oncology Therapeut (BBOT, 7.0%), Parabilis Medicines, Inc. (PBLS, 6.5%). A portfolio copying its top holdings returned 15.0% a year over the last 3 years, against 20.4% for the S&P 500.

Cormorant Asset Management, LP holdings all 50 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Cormorant Asset Management, LP 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
PRAXPraxis Precision Medicines I	11.0%	14.4%	640,000	-27.7%	$214.3M
BBOTBridgebio Oncology Therapeut	7.0%	8.1%	17,878,594	+0.0%	$136.2M
PBLSParabilis Medicines, Inc.	6.5%	New	4,615,612	—	$126.3M
RAPPRapport Therapeutics Inc	5.7%	4.7%	2,657,521	-10.1%	$110.7M
ERASErasca, Inc.	5.6%	4.7%	6,000,000	+3.4%	$109.9M
EWTXEdgewise Therapeutics Inc	5.2%	5.2%	2,510,000	-23.0%	$102.0M
EYPTEyepoint Pharmaceuticals Inc	5.1%	5.4%	7,000,000	-15.3%	$100.1M
ALMSAlumis Ord	4.7%	4.4%	3,285,596	-16.8%	$92.5M
ABVXAbivax SA	4.6%	4.3%	675,000	-11.2%	$90.0M
DNTHDianthus Therapeutics Inc	3.7%	4.0%	750,000	-21.1%	$73.1M
10919W405Bright Minds Biosciences Inc	3.2%	3.9%	900,000	-15.0%	$63.2M
MLTXMoonlake Immunotherapeutics	3.2%	4.2%	3,205,433	-28.5%	$62.4M
BIOABioage Labs Inc	3.0%	2.5%	2,390,605	-17.3%	$58.6M
ORKAOruka Therapeutics Inc	2.6%	1.3%	533,340	+0.0%	$50.8M
ANLAdlai Nortye Ltd	2.3%	1.0%	3,978,229	+37.3%	$45.7M
BBIOBridgebio Pharma Inc	2.1%	3.2%	550,000	-35.3%	$41.0M
TNGXTango Therapeutics Inc	2.1%	1.5%	1,300,000	-8.8%	$40.6M
BHVNBiohaven Ltd	2.0%	0.8%	2,610,000	+48.3%	$38.8M
AGMBAgomab Therapeutics NV	1.6%	1.3%	2,465,348	+0.0%	$32.0M
MBXMbx Biosciences Inc	1.6%	1.7%	550,000	-50.9%	$30.4M
CLYMClimb Bio Inc	1.4%	New	2,106,000	—	$27.5M
OLMAOlema Pharmaceuticals Inc	1.4%	2.9%	2,150,000	-44.9%	$26.9M
GLTODamora Therapeutics Inc	1.3%	2.0%	1,000,000	-34.4%	$26.0M
PHVSPharvaris N V	1.3%	1.4%	750,000	-25.0%	$25.9M
CRBPCorbus Pharmaceuticals Hldgs	1.1%	1.1%	2,344,971	+0.0%	$22.0M
SYRESpyre Therapeutics	1.0%	New	225,000	—	$20.0M
24477V105Definium Therapeutics Inc	1.0%	New	400,000	—	$18.8M
NAMSNewamsterdam Pharma Company Ordinary	0.9%	1.5%	500,000	-47.4%	$16.9M
ROIVRoivant Sciences Ltd	0.9%	1.0%	475,000	-36.7%	$16.8M
CABACabaletta Bio Inc	0.8%	0.7%	5,000,000	-9.1%	$15.6M
HLXCHelix Acquisition Corp III	0.7%	0.7%	1,297,500	+0.0%	$13.8M
ASNDAscendis Pharma A/s	0.7%	New	50,000	—	$13.3M
KLRAKailera Therapeutics Inc	0.6%	New	550,000	—	$12.1M
INSMInsmed Inc	0.4%	1.6%	75,000	-60.5%	$8.0M
FTHFaeth Therapeutics Inc	0.4%	0.5%	1,028,242	+235.8%	$7.7M
ELVNEnliven Therapeutics Inc	0.4%	New	150,000	—	$7.6M
TARSTarsus Pharmaceuticals Inc	0.3%	0.8%	100,000	-55.6%	$6.3M
IBIOIbio Inc	0.3%	New	3,570,000	—	$6.2M
CRNXCrinetics Pharmaceuticals in	0.2%	0.5%	125,000	-50.0%	$4.7M
ARQTArcutis Biotherapeutics Inc	0.2%	0.5%	175,000	-61.1%	$4.6M
ARWRArrowhead Pharmaceuticals in	0.2%	0.3%	50,000	-50.0%	$4.1M
GPCRStructure Therapeutics F Unspo	0.2%	0.4%	75,000	-57.1%	$4.0M
RACCResearch Alliance Corp III	0.2%	New	370,000	—	$4.0M
COGTCogent Biosciences Inc	0.2%	0.4%	100,000	-50.0%	$3.9M
ALTAltimmune Inc	0.2%	New	1,250,000	—	$3.8M
AMLXAmylyx Pharmaceuticals Inc	0.2%	0.2%	200,000	-42.9%	$3.6M
ODTXOdyssey Therapeutics, Inc.	0.2%	New	175,000	—	$3.3M
PCVXVaxcyte Inc	0.1%	0.3%	50,000	-50.0%	$2.9M
BOLDBoundless Bio Inc	0.1%	New	1,000,000	—	$2.5M
22053A305Quince Therapeutics Inc	0.0%	New	5,498	—	$100K

What Cormorant Asset Management, LP bought and sold in Q2 2026, against Q1 2026.

Share counts compared with the Q1 2026 13F; a split also changes share counts.

How the holdings did against the S&P 500.

1 year: +34.3% /yr; S&P 500 +20.1%
3 years: +15.0% /yr; S&P 500 +20.4%
5 years: +6.1% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$2.0B	50
Q1 2026	$2.0B	46
Q4 2025	$1.8B	32
Q3 2025	$1.4B	36
Q2 2025	$1.3B	42
Q1 2025	$1.3B	42
Q4 2024	$1.8B	48
Q3 2024	$1.9B	45
Q2 2024	$1.7B	47
Q1 2024	$2.3B	56
Q4 2023	$2.1B	47
Q3 2023	$1.7B	49

Questions about Cormorant Asset Management, LP's portfolio

What stocks does Cormorant Asset Management, LP own?

Cormorant Asset Management, LP's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 50 positions worth $2.0B. The largest are Praxis Precision Medicines I (PRAX) at 11.0%, Bridgebio Oncology Therapeut (BBOT) at 7.0%, Parabilis Medicines, Inc. (PBLS) at 6.5%, Rapport Therapeutics Inc (RAPP) at 5.7% and Erasca, Inc. (ERAS) at 5.6%.

What did Cormorant Asset Management, LP buy last quarter?

In Q2 2026, Cormorant Asset Management, LP added a new position in Parabilis Medicines, Inc. (PBLS), a new position in Climb Bio Inc (CLYM), a new position in Spyre Therapeutics (SYRE), a new position in Definium Therapeutics Inc, a new position in Ascendis Pharma A/s (ASND), Faeth Therapeutics Inc (FTH) (+235.8% shares), Biohaven Ltd (BHVN) (+48.3% shares) and Adlai Nortye Ltd (ANL) (+37.3% shares), compared with its Q1 2026 filing.

What did Cormorant Asset Management, LP sell last quarter?

In Q2 2026, Cormorant Asset Management, LP sold all of Centessa Pharmaceuticals PLC (CNTA), sold all of Maze Therapeutics Inc (MAZE), sold all of Ascendis Pharma A/s, sold all of Terns Pharmaceuticals Inc (TERN), sold all of Zura Bio Ltd (ZURA), Arcutis Biotherapeutics Inc (ARQT) (-61.1% shares), Insmed Inc (INSM) (-60.5% shares) and Structure Therapeutics F Unspo (GPCR) (-57.1% shares), compared with its Q1 2026 filing.

How has Cormorant Asset Management, LP's portfolio performed?

A portfolio copying Cormorant Asset Management, LP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +15.0% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +34.3% against +20.1%. Over 5 years: +6.1% a year against +11.6%.

When is Cormorant Asset Management, LP's next 13F filing due?

13F filings are due 45 days after each quarter ends. Cormorant Asset Management, LP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Cormorant Asset Management, LP manage?

Cormorant Asset Management, LP reported $3.8B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $2.0B.