Fairmount Funds Management LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Fairmount Funds Management LLC reported 13 stock positions worth $885.1 million. Its top holding was Axsome Therapeutics (AXSM) at 21.5% of the portfolio, followed by Nuvalent Class A (NUVL, 16.5%) and Spyre Therapeutics (SYRE, 10.7%). Compared with Q1 2024, it opened 1 new position, sold out of 3, added to 2 and reduced 1. The biggest buy was Spyre Therapeutics (SYRE, shares +962%) and the biggest sale an exit from Merus (MRUS).

Most Recent 13F
Q2 2026
Location
WEST CONSHOHOCKEN, PA
CIK
0001802528
Portfolio Value
$885.1M (Q2 2024)
SEC Filing
0001104659-24-089572 ↗ filed Aug 14, 2024

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $917.4M Q1 2024 Q2 2024: $885.1M $885.1M Q2 2024 Q3 2024: $1.2B Q3 2024 Q4 2024: $1.0B Q4 2024 Q1 2025: $644.6M Q1 2025 Q2 2025: $771.9M Q2 2025 Q3 2025: $1.1B Q3 2025 Q4 2025: $1.3B Q4 2025 Q1 2026: $1.4B Q1 2026 Q2 2026: $1.5B Q2 2026

Holdings 13 stocks · $885.1M
AXSM Axsome Therapeutics Inc. 21.46% 2,360,077 $190.0M No change
NUVL Nuvalent Inc. Class A 16.50% 1,924,626 $146.0M No change
SYRE Spyre Therapeutics Inc. 10.67% 4,018,101 $94.5M Add +961.8%
APGE Apogee Therapeutics Inc. 9.11% 2,048,647 $80.6M No change
ELVN Enliven Therapeutics Inc. 8.46% 3,202,798 $74.8M No change
DNTH Dianthus Therapeutics Inc. 8.08% 2,762,837 $71.5M No change
KNSA Kiniksa Pharmaceuticals Inte 6.76% 3,204,841 $59.8M No change
COGT Cogent Biosciences Inc. 5.93% 6,225,641 $52.5M Add +31.7%
ATXS Astria Therapeutics Inc. 3.65% 3,554,129 $32.3M No change
PTGX Protagonist Therapeutics Inc. 3.65% 931,890 $32.3M No change
VRDN Viridian Therapeutics Inc. 2.71% 1,845,813 $24.0M No change
BCYC Bicycle Therapeutics PLC-ADR 2.44% 1,069,199 $21.6M New
TERN Terns Pharmaceuticals Inc. 0.58% 748,996 $5.1M Reduce -63.3%

Portfolio Sells Q1 2024 → Q2 2024
MRUS Merus NV Sold out 0.00% −3.52
TYRA Tyra Biosciences Inc. Sold out 0.00% −2.49
GERN Geron Corp. Sold out 0.00% −2.40
TERN Terns Pharmaceuticals Inc. Reduce -63.3% 0.58% −0.88

Portfolio Buys Q1 2024 → Q2 2024
SYRE Spyre Therapeutics Inc. Add +961.8% 10.67% +9.11
COGT Cogent Biosciences Inc. Add +31.7% 5.93% +2.47
BCYC Bicycle Therapeutics PLC-ADR New 2.44% +2.44

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 12$1.5BORKA, DNTH, DMRA, COGT, JBIO
Q1 2026 12$1.4BDMRA, DNTH, COGT, SYRE, ORKA
Q4 2025 13$1.3BCOGT, APGE, SYRE, VRDN, ORKA
Q3 2025 17$1.1BDNTH, COGT, AXSM, APGE, ELVN
Q2 2025 17$771.9MAPGE, AXSM, ELVN, SRRK, SYRE
Q1 2025 15$644.6MAXSM, APGE, SYRE, ELVN, NUVL
Q4 2024 17$1.0BAXSM, NUVL, SYRE, APGE, SRRK
Q3 2024 15$1.2BAXSM, NUVL, APGE, SYRE, ELVN
Q2 2024 13$885.1MAXSM, NUVL, SYRE, APGE, ELVN
Q1 2024 15$917.4MAXSM, NUVL, APGE, DNTH, KNSA