Commodore Capital LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Commodore Capital LP reported 33 stock positions worth $1.4 billion. Its top holding was Merus (MRUS) at 13.1% of the portfolio, followed by Nuvalent Class A (NUVL, 7.4%) and Xenon Pharmaceuticals (XENE, 6.7%). Compared with Q1 2025, it opened 7 new positions, sold out of 5, added to 10 and reduced 8. The biggest buy was a new position in Protagonist Therapeutics (PTGX) and the biggest sale an exit from Vaxcyte (PCVX).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001831942
- Portfolio Value
- $1.4B (Q2 2025)
- SEC Filing
- 0001831942-25-000008 ↗ filed Aug 14, 2025
Holdings Value
Holdings 33 stocks · $1.4B
| MRUS Merus NV | 13.09% | 3,525,000 | $185.4M | Reduce -21.2% |
| NUVL Nuvalent Inc. Class A | 7.41% | 1,375,000 | $104.9M | Reduce -25.9% |
| XENE Xenon Pharmaceuticals Inc. | 6.68% | 3,025,000 | $94.7M | Add +30.1% |
| ELVN Enliven Therapeutics Inc. | 6.64% | 4,692,809 | $94.1M | Add +0.4% |
| AGIO Agios Pharmaceuticals Inc. | 5.46% | 2,325,000 | $77.3M | Add +6.4% |
| CLDX Celldex Therapeutics Inc. | 4.96% | 3,450,000 | $70.2M | Add +7.8% |
| ALKS Alkermes PLC | 4.95% | 2,450,000 | $70.1M | Add +25.6% |
| VRDN Viridian Therapeutics Inc. | 4.81% | 4,875,000 | $68.2M | Add +35.4% |
| PTGX Protagonist Therapeutics Inc. | 4.19% | 1,075,000 | $59.4M | New |
| CDTX Cidara Therapeutics Inc. | 4.04% | 1,175,000 | $57.2M | New |
| SRRK Scholar Rock Holding Corp. | 3.63% | 1,450,000 | $51.4M | Reduce -16.9% |
| SLNO Soleno Therapeutics Inc. | 3.61% | 610,000 | $51.1M | Reduce -47.0% |
| RLAY Relay Therapeutics Inc. | 3.26% | 13,350,000 | $46.2M | New |
| NRIX Nurix Therapeutics Inc. | 3.17% | 3,948,653 | $45.0M | Reduce -0.8% |
| CNTA Centessa Pharmaceuticals Ltd. | 3.06% | 3,298,289 | $43.3M | Add +39.3% |
| PHVS Pharvaris NV | 2.37% | 1,911,433 | $33.6M | No change |
| KYMR Kymera Therapeutics Inc. | 2.31% | 750,000 | $32.7M | New |
| MIND MEDICINE MINDMED INC | 2.29% | 5,000,000 | $32.5M | Add +10.5% |
| SYRE Spyre Therapeutics Inc. | 2.10% | 1,988,084 | $29.8M | No change |
| TYRA Tyra Biosciences Inc. | 2.09% | 3,100,000 | $29.7M | Add +226.3% |
| VERA Vera Therapeutics Inc. | 1.33% | 800,000 | $18.8M | Reduce -68.8% |
| CTMX Cytomx Therapeutics Inc. | 1.23% | 7,692,300 | $17.5M | New |
| COGT Cogent Biosciences Inc. | 1.17% | 2,311,164 | $16.6M | Reduce -74.0% |
| ORKA Oruka Therapeutics Inc. | 1.12% | 1,419,714 | $15.9M | No change |
| DRUG Bright Minds Biosciences Inc. | 0.92% | 500,000 | $13.1M | No change |
| APGE Apogee Therapeutics Inc. | 0.89% | 290,000 | $12.6M | No change |
| IKT Inhibikase Therapeutics Inc. | 0.74% | 5,397,488 | $10.5M | Add +1.0% |
| FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR | 0.56% | 750,000 | $8.0M | No change |
| TNGX Tango Therapeutics Inc. | 0.54% | 1,500,000 | $7.7M | New |
| CBIO Crescent Biopharma Inc. | 0.52% | 453,686 | $7.3M | New |
| NGNE Neurogene Inc. | 0.45% | 427,866 | $6.4M | Reduce -53.7% |
| VTGN Vistagen Therapeutics Inc. | 0.22% | 1,575,000 | $3.1M | No change |
| AVTX Avalo Therapeutics Inc. | 0.17% | 483,000 | $2.4M | No change |
Portfolio Sells Q1 2025 → Q2 2025
| PCVX Vaxcyte Inc. | Sold out | 0.00% | −4.59 |
| VERA Vera Therapeutics Inc. | Reduce -68.8% | 1.33% | −3.20 |
| COGT Cogent Biosciences Inc. | Reduce -74.0% | 1.17% | −2.75 |
| SLNO Soleno Therapeutics Inc. | Reduce -47.0% | 3.61% | −2.45 |
| NUVL Nuvalent Inc. Class A | Reduce -25.9% | 7.41% | −2.29 |
| SLDB Solid Biosciences Inc. | Sold out | 0.00% | −1.59 |
| CRDF Cardiff Oncology Inc. | Sold out | 0.00% | −1.25 |
| ORIC Oric Pharmaceuticals Inc. | Sold out | 0.00% | −0.82 |
| MRUS Merus NV | Reduce -21.2% | 13.09% | −0.78 |
| CELC Celcuity Inc. | Sold out | 0.00% | −0.52 |
| SRRK Scholar Rock Holding Corp. | Reduce -16.9% | 3.63% | −0.51 |
| NGNE Neurogene Inc. | Reduce -53.7% | 0.45% | −0.35 |
| NRIX Nurix Therapeutics Inc. | Reduce -0.8% | 3.17% | −0.31 |
Portfolio Buys Q1 2025 → Q2 2025
| PTGX Protagonist Therapeutics Inc. | New | 4.19% | +4.19 |
| CDTX Cidara Therapeutics Inc. | New | 4.04% | +4.04 |
| RLAY Relay Therapeutics Inc. | New | 3.26% | +3.26 |
| KYMR Kymera Therapeutics Inc. | New | 2.31% | +2.31 |
| TYRA Tyra Biosciences Inc. | Add +226.3% | 2.09% | +1.44 |
| VRDN Viridian Therapeutics Inc. | Add +35.4% | 4.81% | +1.23 |
| CTMX Cytomx Therapeutics Inc. | New | 1.23% | +1.23 |
| XENE Xenon Pharmaceuticals Inc. | Add +30.1% | 6.68% | +0.94 |
| AGIO Agios Pharmaceuticals Inc. | Add +6.4% | 5.46% | +0.74 |
| CLDX Celldex Therapeutics Inc. | Add +7.8% | 4.96% | +0.68 |
| CNTA Centessa Pharmaceuticals Ltd. | Add +39.3% | 3.06% | +0.55 |
| TNGX Tango Therapeutics Inc. | New | 0.54% | +0.54 |
| CBIO Crescent Biopharma Inc. | New | 0.52% | +0.52 |
| MIND MEDICINE MINDMED INC | Add +10.5% | 2.29% | +0.34 |
| ALKS Alkermes PLC | Add +25.6% | 4.95% | +0.20 |
| IKT Inhibikase Therapeutics Inc. | Add +1.0% | 0.74% | −0.12 |
| ELVN Enliven Therapeutics Inc. | Add +0.4% | 6.64% | −0.13 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 33 | $1.7B | RLAY, ELVN, ALKS, COGT, AMLX |
| Q1 2026 | 36 | $1.7B | RLAY, ALKS, ELVN, COGT, SYRE |
| Q4 2025 | 33 | $1.5B | RLAY, ALKS, TYRA, XENE, SYRE |
| Q3 2025 | 37 | $2.0B | MRUS, NUVL, XENE, COGT, ELVN |
| Q2 2025 | 33 | $1.4B | MRUS, NUVL, XENE, ELVN, AGIO |
| Q1 2025 | 31 | $1.4B | MRUS, NUVL, ELVN, SLNO, XENE |
| Q4 2024 | 31 | $1.4B | MRUS, PCVX, NUVL, XENE, ELVN |
| Q3 2024 | 36 | $1.6B | MRUS, VERA, XENE, PCVX, ELVN |
| Q2 2024 | 35 | $1.5B | MRUS, NUVL, XENE, PCVX, ELVN |
| Q1 2024 | 39 | $1.5B | MRUS, VERA, NUVL, XENE, SYRE |