Fairmount Funds Management LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Fairmount Funds Management LLC reported 17 stock positions worth $771.9 million. Its top holding was Apogee Therapeutics (APGE) at 11.5% of the portfolio, followed by Axsome Therapeutics (AXSM, 11.0%) and Enliven Therapeutics (ELVN, 9.6%). Compared with Q1 2025, it opened 3 new positions, sold out of 1 and added to 5. The biggest buy was a new position in Jade Biosciences (JBIO) and the biggest sale an exit from Bicara Therapeutics (BCAX).
- Most Recent 13F
- Q2 2026
- Location
- WEST CONSHOHOCKEN, PA
- CIK
- 0001802528
- Portfolio Value
- $771.9M (Q2 2025)
- SEC Filing
- 0001104659-25-078521 ↗ filed Aug 14, 2025
Holdings Value
Holdings 17 stocks · $771.9M
| APGE Apogee Therapeutics Inc. | 11.53% | 2,048,647 | $89.0M | No change |
| AXSM Axsome Therapeutics Inc. | 11.02% | 815,176 | $85.1M | No change |
| ELVN Enliven Therapeutics Inc. | 9.65% | 3,711,444 | $74.5M | Add +15.9% |
| SRRK Scholar Rock Holding Corp. | 8.37% | 1,824,031 | $64.6M | Add +32.8% |
| SYRE Spyre Therapeutics Inc. | 7.79% | 4,018,101 | $60.2M | No change |
| NUVL Nuvalent Inc. Class A | 7.19% | 727,563 | $55.5M | No change |
| DNTH Dianthus Therapeutics Inc. | 6.53% | 2,707,191 | $50.4M | Add +0.2% |
| KNSA Kiniksa Pharmaceuticals Inte | 6.36% | 1,772,839 | $49.1M | Add +60.8% |
| VRDN Viridian Therapeutics Inc. | 6.27% | 3,459,913 | $48.4M | Add +0.4% |
| COGT Cogent Biosciences Inc. | 5.79% | 6,225,641 | $44.7M | No change |
| ORKA Oruka Therapeutics Inc. | 4.90% | 3,371,922 | $37.8M | No change |
| JBIO Jade Biosciences Inc. | 4.17% | 3,220,368 | $32.2M | New |
| CBIO Crescent Biopharma Inc. | 2.90% | 1,387,866 | $22.4M | New |
| ATXS Astria Therapeutics Inc. | 2.47% | 3,554,129 | $19.1M | No change |
| ZBIO Zenas Biopharma Inc. | 2.38% | 1,892,806 | $18.3M | No change |
| IKT Inhibikase Therapeutics Inc. | 1.55% | 6,125,000 | $11.9M | No change |
| CTMX Cytomx Therapeutics Inc. | 1.15% | 3,896,582 | $8.8M | New |
Portfolio Sells Q1 2025 → Q2 2025
| BCAX Bicara Therapeutics Inc. | Sold out | 0.00% | −1.59 |
Portfolio Buys Q1 2025 → Q2 2025
| JBIO Jade Biosciences Inc. | New | 4.17% | +4.17 |
| CBIO Crescent Biopharma Inc. | New | 2.90% | +2.90 |
| KNSA Kiniksa Pharmaceuticals Inte | Add +60.8% | 6.36% | +2.56 |
| SRRK Scholar Rock Holding Corp. | Add +32.8% | 8.37% | +1.52 |
| CTMX Cytomx Therapeutics Inc. | New | 1.15% | +1.15 |
| ELVN Enliven Therapeutics Inc. | Add +15.9% | 9.65% | −0.13 |
| VRDN Viridian Therapeutics Inc. | Add +0.4% | 6.27% | −0.94 |
| DNTH Dianthus Therapeutics Inc. | Add +0.2% | 6.53% | −1.07 |
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 |