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Commodore Capital LP

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13F filer, CIK 1831942, NEW YORK, NY

Commodore Capital LP reported $1,502,245,473 across 33 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 55.82% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001831942-26-000004

Period
2025-12-31
Reported value
$1.5B
Holdings
33
Top 10 weight
55.82%
New
6
Sold out
10

Part of the filer group Commodore Capital LP

  • Commodore Capital Master LP
  • Michael Kramarz
  • Robert Egen Atkinson
How groups are built

Stakes and trades reported after 2025-12-31

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

  • SGMT SAGIMET BIOSCIENCES INC: 13G 5,507,752 shares, 7.6% of the class, 13G filed 2026-10-07, 0001831942-26-000045Timeline
    Accepted , ingested
  • SRZN SURROZEN INC: 13G 885,000 shares, 7.5% of the class, 13G filed 2026-10-01, 0001831942-26-000044Timeline
    Accepted , ingested

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ANROnew+1,823,196$32.5M
PALInew+11,445,000$26.9M
AMLXadded+1,574,522$19M
REPLnew+1,425,000$13.9M
SYREadded+400,161$13.1M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MERUS N Vexited-3,525,000-$332M
COGTreduced-5,053,155-$179M
TERNreduced-4,225,000-$171M
AGIOexited-2,338,287-$93.9M
NUVLreduced-850,000-$85.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001831942-26-000004, largest first. % of portfolio is the value over $1,502,245,473, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
RLAYRELAY THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 13,350,000 shares; 2025Q3: 17,000,000 shares; 2025Q4: 17,000,000 shares 17,000,000$144M9.57%0Timeline
ALKSALKERMES PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,900,000 shares; 2024Q4: 2,300,000 shares; 2025Q1: 1,950,000 shares; 2025Q2: 2,450,000 shares; 2025Q3: 3,096,754 shares; 2025Q4: 3,550,000 shares 3,550,000$99.3M6.61%+453,246Timeline
TYRATYRA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 950,000 shares; 2025Q2: 3,100,000 shares; 2025Q3: 3,375,000 shares; 2025Q4: 3,375,000 shares 3,375,000$88.7M5.91%0Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,700,000 shares; 2024Q4: 2,740,000 shares; 2025Q1: 2,325,000 shares; 2025Q2: 3,025,000 shares; 2025Q3: 2,700,000 shares; 2025Q4: 1,800,000 shares 1,800,000$80.7M5.37%-900,000Timeline
SYRESPYRE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,988,084 shares; 2024Q4: 1,988,084 shares; 2025Q1: 1,988,084 shares; 2025Q2: 1,988,084 shares; 2025Q3: 1,988,084 shares; 2025Q4: 2,388,245 shares 2,388,245$78.2M5.21%+400,161Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,539,930 shares; 2024Q4: 6,881,629 shares; 2025Q1: 8,892,816 shares; 2025Q2: 2,311,164 shares; 2025Q3: 7,250,000 shares; 2025Q4: 2,196,845 shares 2,196,845$78M5.19%-5,053,155Timeline
ELVNENLIVEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,100,000 shares; 2024Q4: 4,205,000 shares; 2025Q1: 4,675,000 shares; 2025Q2: 4,692,809 shares; 2025Q3: 4,692,809 shares; 2025Q4: 4,692,809 shares 4,692,809$72.3M4.81%0Timeline
CLDXCELLDEX THERAPEUTICS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,618,937 shares; 2024Q4: not reported; 2025Q1: 3,200,000 shares; 2025Q2: 3,450,000 shares; 2025Q3: 3,028,335 shares; 2025Q4: 2,565,000 shares 2,565,000$69.7M4.64%-463,335Timeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,075,478 shares; 2025Q4: 5,650,000 shares 5,650,000$68.3M4.54%+1,574,522Timeline
TERNTERNS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 5,700,000 shares; 2025Q4: 1,475,000 shares 1,475,000$59.6M3.97%-4,225,000Timeline
KYMRKYMERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 750,000 shares; 2025Q3: 750,000 shares; 2025Q4: 750,000 shares 750,000$58.4M3.88%0Timeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,260,000 shares; 2024Q4: 1,525,000 shares; 2025Q1: 1,150,000 shares; 2025Q2: 610,000 shares; 2025Q3: 1,350,000 shares; 2025Q4: 1,200,000 shares 1,200,000$55.6M3.7%-150,000Timeline
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 940,000 shares; 2024Q4: 1,621,600 shares; 2025Q1: 1,855,000 shares; 2025Q2: 1,375,000 shares; 2025Q3: 1,400,000 shares; 2025Q4: 550,000 shares 550,000$55.3M3.68%-850,000Timeline
ORKAORUKA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,369,714 shares; 2024Q4: 1,419,714 shares; 2025Q1: 1,419,714 shares; 2025Q2: 1,419,714 shares; 2025Q3: 1,753,054 shares; 2025Q4: 1,753,054 shares 1,753,054$53.1M3.54%0Timeline
PHVSPHARVARIS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,911,433 shares; 2024Q4: 1,911,433 shares; 2025Q1: 1,911,433 shares; 2025Q2: 1,911,433 shares; 2025Q3: 2,418,476 shares; 2025Q4: 1,889,445 shares 1,889,445$52.4M3.49%-529,031Timeline
NRIXNURIX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,650,000 shares; 2024Q4: 3,000,000 shares; 2025Q1: 3,978,907 shares; 2025Q2: 3,948,653 shares; 2025Q3: 3,780,055 shares; 2025Q4: 2,275,000 shares 2,275,000$43.2M2.87%-1,505,055Timeline
PTGXPROTAGONIST THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,075,000 shares; 2025Q3: 1,025,000 shares; 2025Q4: 450,000 shares 450,000$39.3M2.62%-575,000Timeline
ASMBASSEMBLY BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,000,000 shares; 2025Q4: 1,000,000 shares 1,000,000$34M2.26%0Timeline
LBRXLB PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,500,000 shares; 2025Q4: 1,500,000 shares 1,500,000$33.4M2.22%0Timeline
CTMXCYTOMX THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 7,692,300 shares; 2025Q3: 7,692,300 shares; 2025Q4: 7,692,300 shares 7,692,300$32.8M2.18%0Timeline
ANROALTO NEUROSCIENCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,823,196 shares 1,823,196$32.5M2.16%newTimeline
PALIPALISADE BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,445,000 shares 11,445,000$26.9M1.79%newTimeline
MIND MEDICINE MINDMED INCMIND MEDICINE MINDMED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,000,000 shares; 2024Q4: 4,308,425 shares; 2025Q1: 4,525,000 shares; 2025Q2: 5,000,000 shares; 2025Q3: 3,225,000 shares; 2025Q4: 2,000,000 shares 2,000,000$26.8M1.78%-1,225,000
CNTACENTESSA PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,350,000 shares; 2024Q4: 2,218,425 shares; 2025Q1: 2,367,578 shares; 2025Q2: 3,298,289 shares; 2025Q3: 2,850,000 shares; 2025Q4: 1,000,000 shares 1,000,000$25M1.66%-1,850,000Timeline
PEPGPEPGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 2,357,319 shares; 2025Q4: 3,400,000 shares 3,400,000$22.1M1.47%+1,042,681Timeline
SABSSAB BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,401,500 shares; 2025Q4: 4,401,500 shares 4,401,500$16.5M1.1%0Timeline
REPLREPLIMUNE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,425,000 shares 1,425,000$13.9M0.92%newTimeline
IKTINHIBIKASE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,925,000 shares; 2025Q1: 5,344,432 shares; 2025Q2: 5,397,488 shares; 2025Q3: 5,397,488 shares; 2025Q4: 5,397,488 shares 5,397,488$11.1M0.74%0Timeline
CTNMCONTINEUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 816,326 shares 816,326$9.33M0.62%newTimeline
AVTXAVALO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 483,000 shares; 2024Q4: 483,000 shares; 2025Q1: 483,000 shares; 2025Q2: 483,000 shares; 2025Q3: 483,000 shares; 2025Q4: 483,000 shares 483,000$8.77M0.58%0Timeline
RAPTRAPT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 250,000 shares 250,000$8.47M0.56%newTimeline
LONALEONABIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 464,398 shares 464,398$3.52M0.23%newTimeline
DRUGBRIGHT MINDS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 500,000 shares; 2025Q1: 500,000 shares; 2025Q2: 500,000 shares; 2025Q3: 500,000 shares; 2025Q4: 18,851 shares 18,851$1.47M0.1%-481,149Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MERUS N VMERUS N V3,525,000$332Mshares
AGIOAGIOS PHARMACEUTICALS INC2,338,287$93.9Mshares
VRDNVIRIDIAN THERAPEUTICS INC3,200,000$69.1Mshares
CDTXCIDARA THERAPEUTICS INC585,000$56Mshares
TNGXTANGO THERAPEUTICS INC1,500,000$12.6Mshares
APGEAPOGEE THERAPEUTICS INC290,000$11.5Mshares
ENTAENANTA PHARMACEUTICALS INC800,000$9.58Mshares
FRNMPERCEPTIVE CAP SOLUTIONS COR750,000$7.92Mshares
VTGNVISTAGEN THERAPEUTICS INC1,575,000$5.59Mshares
CBIOCRESCENT BIOPHARMA INC.450,829$5.36Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001831942-26-000004 base2026-02-17acceptance time not in the bulk data set