Fairmount Funds Management LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Fairmount Funds Management LLC reported 15 stock positions worth $644.6 million. Its top holding was Axsome Therapeutics (AXSM) at 14.7% of the portfolio, followed by Apogee Therapeutics (APGE, 11.9%) and Spyre Therapeutics (SYRE, 10.1%). Compared with Q4 2024, it sold out of 2 and reduced 5. The biggest sale was an exit from Day One Biopharmaceuticals I (DAWN).
- Most Recent 13F
- Q2 2026
- Location
- WEST CONSHOHOCKEN, PA
- CIK
- 0001802528
- Portfolio Value
- $644.6M (Q1 2025)
- SEC Filing
- 0001104659-25-049337 ↗ filed May 15, 2025
Holdings Value
Holdings 15 stocks · $644.6M
| AXSM Axsome Therapeutics Inc. | 14.75% | 815,176 | $95.1M | Reduce -44.5% |
| APGE Apogee Therapeutics Inc. | 11.87% | 2,048,647 | $76.5M | No change |
| SYRE Spyre Therapeutics Inc. | 10.06% | 4,018,101 | $64.8M | No change |
| ELVN Enliven Therapeutics Inc. | 9.78% | 3,202,798 | $63.0M | No change |
| NUVL Nuvalent Inc. Class A | 8.00% | 727,563 | $51.6M | Reduce -44.8% |
| DNTH Dianthus Therapeutics Inc. | 7.60% | 2,700,691 | $49.0M | No change |
| VRDN Viridian Therapeutics Inc. | 7.21% | 3,445,813 | $46.4M | No change |
| SRRK Scholar Rock Holding Corp. | 6.85% | 1,374,031 | $44.2M | Reduce -30.0% |
| COGT Cogent Biosciences Inc. | 5.79% | 6,225,641 | $37.3M | No change |
| ORKA Oruka Therapeutics Inc. | 5.37% | 3,371,922 | $34.6M | No change |
| KNSA Kiniksa Pharmaceuticals Inte | 3.80% | 1,102,248 | $24.5M | Reduce -49.8% |
| ATXS Astria Therapeutics Inc. | 2.94% | 3,554,129 | $19.0M | No change |
| ZBIO Zenas Biopharma Inc. | 2.32% | 1,892,806 | $15.0M | No change |
| IKT Inhibikase Therapeutics Inc. | 2.08% | 6,125,000 | $13.4M | No change |
| BCAX Bicara Therapeutics Inc. | 1.59% | 784,170 | $10.2M | Reduce -38.9% |
Portfolio Sells Q4 2024 → Q1 2025
| DAWN Day One Biopharmaceuticals I | Sold out | 0.00% | −3.91 |
| ANAB Anaptysbio Inc. | Sold out | 0.00% | −2.39 |
| NUVL Nuvalent Inc. Class A | Reduce -44.8% | 8.00% | −2.25 |
| SRRK Scholar Rock Holding Corp. | Reduce -30.0% | 6.85% | −1.58 |
| BCAX Bicara Therapeutics Inc. | Reduce -38.9% | 1.59% | −0.64 |
| KNSA Kiniksa Pharmaceuticals Inte | Reduce -49.8% | 3.80% | −0.52 |
| AXSM Axsome Therapeutics Inc. | Reduce -44.5% | 14.75% | +2.39 |
Portfolio Buys Q4 2024 → Q1 2025
| None this quarter. | |||
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 12 | $1.5B | ORKA, DNTH, DMRA, COGT, JBIO |
| Q1 2026 | 12 | $1.4B | DMRA, DNTH, COGT, SYRE, ORKA |
| Q4 2025 | 13 | $1.3B | COGT, APGE, SYRE, VRDN, ORKA |
| Q3 2025 | 17 | $1.1B | DNTH, COGT, AXSM, APGE, ELVN |
| Q2 2025 | 17 | $771.9M | APGE, AXSM, ELVN, SRRK, SYRE |
| Q1 2025 | 15 | $644.6M | AXSM, APGE, SYRE, ELVN, NUVL |
| Q4 2024 | 17 | $1.0B | AXSM, NUVL, SYRE, APGE, SRRK |
| Q3 2024 | 15 | $1.2B | AXSM, NUVL, APGE, SYRE, ELVN |
| Q2 2024 | 13 | $885.1M | AXSM, NUVL, SYRE, APGE, ELVN |
| Q1 2024 | 15 | $917.4M | AXSM, NUVL, APGE, DNTH, KNSA |