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Livermore
Livermore
ZHEN

Fairmount Funds Management LLC

SEC CIK
0001802528
Latest filing
Aug 14, 2026

The latest 13F from Fairmount Funds Management LLC covers Q2 2026 (filed Aug 14, 2026): 12 long positions worth $1.51B. The top 10 holdings make up 97.6% of the portfolio, and the largest is Oruka Therapeutics, Inc. (ORKA) at 23.3%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
1
Est. +$18.1M
Added
1
Est. +$21.6M
Reduced
0
Sold out
1
Est. −$202.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. ORKAOruka Therapeutics, Inc.
    23.3%$352.6MHistory
  2. DNTHDianthus Therapeutics, Inc.
    16.3%$247.3MHistory
  3. DMRADamora Therapeutics, Inc.
    15.0%$226.6MHistory
  4. COGTCogent Biosciences, Inc.
    14.1%$213.0MHistory
  5. JBIOJade Biosciences, Inc.
    6.7%$101.2MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. VRDNViridian Therapeutics, Inc.
    +$21.6MAddedHistory
  2. FTHFaeth Therapeutics, Inc.
    +$18.1MNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. FTHFaeth Therapeutics, Inc.
    +1.19 pp0.0% → 1.2%History
  2. VRDNViridian Therapeutics, Inc.
    +0.65 pp5.5% → 6.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SYRESpyre Therapeutics, Inc.
    −$202.7MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. SYRESpyre Therapeutics, Inc.
    −14.64 pp14.6% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$1.51B
+$128.6M (+9.3%) vs. prior quarter
Positions
12
0 vs. prior quarter
Top 10 concentration
97.6%
Top 10 as share of value
Turnover
2.7%
Q2 2026, one quarter
Average holding period
10.7 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $1.51B (Q2 2026)

Q1 2021: $237.2MQ2 2021: $243.2MQ3 2021: $275.0MQ4 2021: $303.3MQ1 2022: $422.9MQ2 2022: $436.9MQ3 2022: $542.1MQ4 2022: $630.4MQ1 2023: $581.5MQ2 2023: $709.3MQ3 2023: $831.2MQ4 2023: $946.5MQ1 2024: $917.4MQ2 2024: $885.1MQ3 2024: $1.23BQ4 2024: $1.01BQ1 2025: $644.6MQ2 2025: $771.9MQ3 2025: $1.11BQ4 2025: $1.31BQ1 2026: $1.38BQ2 2026: $1.51B
Q1 2021Q2 2026
13F filings of Fairmount Funds Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202612$1.51BORKADNTHDMRAvs. Q1 2026SEC
Q1 2026May 15, 202612$1.38BDMRADNTHCOGTvs. Q4 2025SEC
Q4 2025Feb 17, 202613$1.31BCOGTAPGESYREvs. Q3 2025SEC
Q3 2025Nov 14, 202517$1.11BDNTHCOGTAXSMvs. Q2 2025SEC
Q2 2025Aug 14, 202517$771.9MAPGEAXSMELVNvs. Q1 2025SEC
Q1 2025May 15, 202515$644.6MAXSMAPGESYREvs. Q4 2024SEC
Q4 2024Feb 14, 202517$1.01BAXSMNUVLSYREvs. Q3 2024SEC
Q3 2024Nov 14, 202415$1.23BAXSMNUVLAPGEvs. Q2 2024SEC
Q2 2024Aug 14, 202413$885.1MAXSMNUVLSYREvs. Q1 2024SEC
Q1 2024May 15, 202415$917.4MAXSMNUVLAPGEvs. Q4 2023SEC
Q4 2023Feb 14, 202416$946.5MAXSMIMGNNUVLvs. Q3 2023SEC
Q3 2023Nov 14, 202320$831.2MAXSMNUVLIMGNvs. Q2 2023SEC
Q2 2023Aug 14, 202317$709.3MAXSMNUVLIMGNvs. Q1 2023SEC
Q1 2023May 15, 202316$581.5MAXSMNUVLVRNAvs. Q4 2022SEC
Q4 2022Feb 14, 202316$630.4MAXSMNUVLVRNAvs. Q3 2022SEC
Q3 2022Nov 9, 202226$542.1MAXSMCOGTNUVLvs. Q2 2022SEC
Q2 2022Aug 15, 202227$436.9MBHVNAXSMBCRXvs. Q1 2022SEC
Q1 2022May 16, 202222$422.9MINSMGBTARGXvs. Q4 2021SEC
Q4 2021Feb 14, 202220$303.3MZGNXINSMENTAvs. Q3 2021SEC
Q3 2021Nov 15, 202120$275.0MINSMZGNXNUVLvs. Q2 2021SEC
Q2 2021Aug 13, 202119$243.2MINSMZGNXAXSMvs. Q1 2021SEC
Q1 2021May 14, 202121$237.2MINSMZGNXIOVA–SEC

13D and 13G filings

Companies where Fairmount Funds Management LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

9 companies, largest stake first.

Companies where Fairmount Funds Management LLC owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
JBIOJade Biosciences, Inc.13D/A19.99%14.1M shares0.00 ppfrom 19.99%May 1, 20253 filingsJun 9, 2026SEC
KRSAKorsana Biosciences, Inc.13D19.99%9.11M sharesNewSep 11, 20261 filingSep 11, 2026SEC
DMRADamora Therapeutics, Inc.13D/A19.99%8.71M shares0.00 ppfrom 19.99%Nov 17, 20252 filingsFeb 11, 2026SEC
ORKAOruka Therapeutics, Inc.13D/A19.50%14.6M shares−0.49 ppfrom 19.99%Sep 6, 20247 filingsJul 1, 2026SEC
CBIOCrescent Biopharma, Inc.13D/A16.52%6.60M shares−2.01 ppfrom 18.53%Jun 23, 20253 filingsJul 20, 2026SEC
VRDNViridian Therapeutics, Inc.13D/A14.04%17.2M shares−1.10 ppfrom 15.14%Jan 5, 20219 filingsMay 13, 2026SEC
SYRESpyre Therapeutics, Inc.13D/A9.99%9.67M shares0.00 ppfrom 9.99%Jun 30, 20238 filingsJun 23, 2026SEC
IKTInhibikase Therapeutics, Inc.13G/A9.90%12.5M shares0.00 ppfrom 9.90%Oct 17, 20243 filingsFeb 17, 2026SEC
COGTCogent Biosciences, Inc.13D/A8.60%15.4M shares−1.30 ppfrom 9.90%Jun 21, 202210 filingsMar 31, 2026SEC

Latest filings

99 filings on file made by Fairmount Funds Management LLC or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Fairmount Funds Management LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
KRSAKorsana Biosciences, Inc.Sep 11, 20265:25 PM ET13D19.99%9.11M sharesNewSep 8, 2026SEC
APGEApogee Therapeutics, Inc.Sep 3, 20265:31 PM ET13D/A0.00%0 shares−9.99 ppfrom 9.99%Below 5%Sep 3, 2026SEC
CBIOCrescent Biopharma, Inc.Jul 20, 20265:30 PM ET13D/A16.52%6.60M shares−2.01 ppfrom 18.53%Jul 16, 2026SEC
ORKAOruka Therapeutics, Inc.Jul 1, 20269:30 PM ET13D/A19.50%14.6M shares−0.49 ppfrom 19.99%Jul 1, 2026SEC
SYRESpyre Therapeutics, Inc.Jun 23, 20269:45 PM ET13D/A9.99%9.67M shares0.00 ppfrom 9.99%Jun 23, 2026SEC
APGEApogee Therapeutics, Inc.Jun 23, 20265:00 PM ET13D/A9.99%6.81M shares0.00 ppfrom 9.99%Jun 18, 2026SEC
JBIOJade Biosciences, Inc.Jun 9, 20265:30 PM ET13D/A19.99%14.1M shares0.00 ppfrom 19.99%Jun 5, 2026SEC
ELVNEnliven Therapeutics, Inc.May 15, 20264:31 PM ET13G/A3.10%1.86M shares−3.20 ppfrom 6.30%Below 5%Mar 31, 2026SEC
VRDNViridian Therapeutics, Inc.May 13, 20264:30 PM ET13D/A14.04%17.2M shares−1.10 ppfrom 15.14%May 11, 2026SEC
ORKAOruka Therapeutics, Inc.May 4, 20266:00 PM ET13D/A19.99%13.7M shares0.00 ppfrom 19.99%Apr 30, 2026SEC
SYRESpyre Therapeutics, Inc.Apr 20, 20266:00 PM ET13D/A9.99%9.02M shares0.00 ppfrom 9.99%Apr 16, 2026SEC
COGTCogent Biosciences, Inc.Mar 31, 20269:30 PM ET13D/A8.60%15.4M shares−1.30 ppfrom 9.90%Mar 31, 2026SEC
APGEApogee Therapeutics, Inc.Mar 27, 20265:30 PM ET13D/A9.99%6.76M shares0.00 ppfrom 9.99%Mar 26, 2026SEC
IKTInhibikase Therapeutics, Inc.Feb 17, 20264:30 PM ET13G/A9.90%12.5M shares0.00 ppfrom 9.90%Dec 31, 2025SEC
DMRADamora Therapeutics, Inc.Feb 11, 20266:11 PM ET13D/A19.99%8.71M shares0.00 ppfrom 19.99%Feb 9, 2026SEC
COGTCogent Biosciences, Inc.Jan 22, 20268:02 PM ET13D/A9.90%16.3M shares0.00 ppfrom 9.90%Jan 22, 2026SEC
APGEApogee Therapeutics, Inc.Jan 22, 20268:00 PM ET13D/A9.99%6.05M shares0.00 ppfrom 9.99%Jan 22, 2026SEC
CBIOCrescent Biopharma, Inc.Dec 8, 20254:30 PM ET13D/A18.53%5.64M shares−1.46 ppfrom 19.99%Dec 4, 2025SEC
DNTHDianthus Therapeutics, Inc.Nov 25, 20259:00 PM ET13D/A4.90%2.14M shares−5.00 ppfrom 9.90%Below 5%Nov 21, 2025SEC
DMRADamora Therapeutics, Inc.Nov 17, 20259:45 PM ET13D19.99%397.0K sharesNewNov 10, 2025SEC