CORMORANT ASSET MANAGEMENT LP
Q3 2025 Form 13-F
BOSTON, MASSACHUSETTS
CIK 0001583977
· CRD 167820
· SEC-registered investment adviser
Consolidated report · includes
1 manager
since Q4 2013
$1.4B Reported Value Total
CORMORANT ASSET MANAGEMENT, LP reports 14 total accounts under management (AUM). There are 14 discretionary accounts valued at $3,858,641,023, and 0 non-discretionary accounts.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Private funds (Form ADV)
7 funds
· $3.8B gross asset value
Hedge Fund: $2.2B · Private Equity Fund: $1.6B
Source: Form ADV filed 2026-05-27
Reported value
$1.4B
Quarter over quarter
+2.3%
Holdings
36
Top-10 concentration
67.3%
Filing Structure
Reports holdings for
- Chen Bihua · File #028-15950 · since Q4 2013
Key People
Form ADV owners & control persons
Bihua Chen
MANAGING MEMBER & CHIEF EXECUTIVE OFFICER
Nebojsa Obradovic
CHIEF COMPLIANCE OFFICER & GENERAL COUNSEL
Caleb Jonathan Tripp
CHIEF FINANCIAL OFFICER & CHIEF OPERATING OFFICER
Filing Navigation
13F Metrics
Loading 13F Metrics
Q3 2025 13F record
Q3 2025 13F filing summary
| Period of report | September 30, 2025 |
|---|---|
| Filed | November 14, 2025 |
| Form | 13F-HR |
| Reported value | $1.4B |
| Positions | 36 |
| Change in reported value | +8.0% |
| New positions | 3 |
| Exited positions | 9 |
| Position turnover | 26.7% |
| Top-10 concentration | 67.3% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 14, 2026
|
50 | $2.0B |
|
Q1 2026 13F
Filed May 15, 2026
|
46 | $2.0B |
|
Q4 2025 13F
Filed Feb 17, 2026
|
32 | $2.2B |
|
Q3 2025 13F
Filed Nov 14, 2025
|
36 | $1.4B |
|
Q2 2025 13F
Filed Aug 14, 2025
|
42 | $1.3B |
|
Q1 2025 13F
Filed May 15, 2025
|
42 | $1.3B |
|
Q4 2024 13F
Filed Feb 14, 2025
|
48 | $1.8B |
|
Q3 2024 13F
Filed Nov 14, 2024
|
45 | $1.9B |
|
Q2 2024 13F
Filed Aug 14, 2024
|
47 | $1.7B |
|
Q1 2024 13F
Filed May 15, 2024
|
56 | $2.3B |
|
Q4 2023 13F
Filed Feb 14, 2024
|
47 | $2.1B |
|
Q3 2023 13F
Filed Nov 14, 2023
|
49 | $1.7B |
|
Q2 2023 13F
Filed Aug 14, 2023
|
61 | $1.8B |
|
Q1 2023 13F
Filed May 15, 2023
|
72 | $1.5B |
|
Q4 2022 13F
Filed Feb 14, 2023
|
72 | $1.5B |
|
Q3 2022 13F
Filed Nov 14, 2022
|
72 | $1.4B |
|
Q2 2022 13F
Filed Aug 15, 2022
|
79 | $1.3B |
|
Q1 2022 13F
Filed May 16, 2022
|
77 | $1.3B |
|
Q4 2021 13F
Filed Feb 14, 2022
|
78 | $1.7B |
|
Q3 2021 13F
Filed Nov 15, 2021
|
88 | $2.5B |
31 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q3 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | BBOT BRIDGEBIO ONCOLOGY THERAPEUT | $207.0M | 14.29% |
| 2 | ABVX ABIVAX SA | $165.6M | 11.42% |
| 3 | EYPT EYEPOINT PHARMACEUTICALS INC | $118.5M | 8.18% |
| 4 | RAPP RAPPORT THERAPEUTICS INC | $94.8M | 6.54% |
| 5 | BBIO BRIDGEBIO PHARMA INC | $72.7M | 5.02% |
| 6 | EWTX EDGEWISE THERAPEUTICS INC | $65.0M | 4.49% |
| 7 | DRUG BRIGHT MINDS BIOSCIENCES INC | $64.3M | 4.43% |
| 8 | ACLX ARCELLX INC | $63.6M | 4.39% |
| 9 | INSM INSMED INC | $61.9M | 4.27% |
| 10 | NAMS NEWAMSTERDAM PHARMA COMPANY | $61.9M | 4.27% |
| 11 | PRAX PRAXIS PRECISION MEDICINES I | $53.0M | 3.66% |
| 12 | CNTA CENTESSA PHARMACEUTICALS PLC | $46.7M | 3.22% |
| 13 | PHVS PHARVARIS N V | $34.0M | 2.35% |
| 14 | CRBP CORBUS PHARMACEUTICALS HLDGS | $30.0M | 2.07% |
| 15 | GHRS GH RESEARCH PLC | $27.4M | 1.89% |
| 16 | CGON CG ONCOLOGY INC | $25.2M | 1.74% |
| 17 | KRRO KORRO BIO INC | $22.3M | 1.54% |
| 18 | MBX MBX BIOSCIENCES INC | $21.4M | 1.48% |
| 19 | MTSR METSERA INC | $20.9M | 1.44% |
| 20 | JANX JANUX THERAPEUTICS INC | $20.8M | 1.43% |
Values as reported on the Q3 2025 Form 13F. Every position is in the holdings table below.