Cormorant Asset Management, LP

CIK: 0001583977SEC EDGAR →

Portfolio Value

$2.2B

Holdings

35

As of

Q4 2025

New Positions

3

Closed Positions

9

Top 10 Holdings

RankStockSharesValue% of Portfolio
1

PRAXIS PRECISION MEDICINES I

950,000$280.0M
12.95%
2

BRIDGEBIO ONCOLOGY THERAPEUT

17,878,594$223.8M
10.35%
3

ABIVAX SA

1,350,000$182.1M
8.42%
4
NDQPut

INVESCO QQQ TR

250,000$153.6M
7.10%
5

EYEPOINT INC

8,265,000$151.0M
6.98%
6
IWMPut

ISHARES TR

500,000$123.1M
5.69%
7
XBIPut

SPDR SERIES TRUST

1,000,000$121.9M
5.64%
8

RAPPORT THERAPEUTICS INC

3,027,521$91.9M
4.25%
9

BRIDGEBIO PHARMA INC

1,200,000$91.8M
4.24%
10

BRIGHT MINDS BIOSCIENCES INC

1,059,331$82.7M
3.82%

Quarterly Changes

Top Buys

NDQNEW
$153.6M
IWMNEW
$123.1M
XBINEW
$121.9M
OLMANEW
$68.8M
MLTX↑ Increased
$43.1M

Top Sells

PRAX↓ Decreased
$227.0M
ACLXCLOSED
$63.6M
EYPT↓ Decreased
$32.5M
NAMS↓ Decreased
$26.8M
CGONCLOSED
$25.2M

New Positions (6)

$153.6M · 250K shares
$123.1M · 500K shares
$121.9M · 1.0M shares
$68.8M · 2.8M shares
$21.3M · 100K shares
$8.0M · 225K shares

Closed Positions (7)

$63.6M · 775K shares
$25.2M · 625K shares
$22.3M · 465K shares
$20.9M · 400K shares
$13.1M · 300K shares
$7.2M · 3.6M shares
$4.1M · 200K shares

Sector Breakdown

Sector# HoldingsValue%
Healthcare31$1.7B79.4%
Financial Services2$245.0M11.3%
Unknown2$201.4M9.3%