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Funds (13F)

Commodore Capital LP

Backtest from 19 Feb 2021 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+5.6%
S&P 500 +13.8%
Last 12 months
+51.7%
S&P 500 +12.1%
Sharpe ratio
0.24
S&P 500 0.68
Biggest drop
−56.0%
S&P 500 −23.9%
$5.0k$10.0k$20.0k 202120222023202420252026 $20.9k$13.7k
Commodore Capital LPS&P 500 $10,000 in Commodore Capital LP from 19 Feb 2021 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Commodore Capital LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Commodore Capital LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+5.6%+13.8%
Total return+37%+109%
Last 12 months+51.7%+12.1%
Last 3 months−15.7%—
Last month−7.1%—
This year so far+34.9%—
Volatility a year36.9%15.6%
Sharpe ratio0.240.68
Biggest drop−56.0%−23.9%
Beta to the S&P 5001.001.00
Alpha a year (t-statistic)−1.8% (−0.13)—
Share of weeks up47%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
RLAY13.9%——
ELVN10.3%——
ALKS9.8%——
COGT7.3%——
AMLX6.3%——
DFTX5.8%——
SYRE4.7%——
ANRO4.5%——
TNGX4.4%——
EYPT4.1%——
TYRA3.7%——
CLDX3.1%——
PHVS3.1%——
LBRX3.0%——
ASMB2.4%——
EDIT1.8%——
KYMR1.8%——
CATX1.3%——
IPSC1.3%——
ZURA1.2%——
AVTX1.2%——
IFRX1.0%——
ANTX0.9%——
SABS0.7%——
IKT0.7%——
RLMD0.6%——
PEPG0.5%——
RACC0.3%——
LONA0.3%——
VTGN0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest19 Feb 2021 to 2 Nov 2026+5.6%+13.8%0.240.68−56.0%1.00−1.8% (−0.13)
Last three years3 Nov 2023 to 2 Nov 2026+28.2%+21.8%0.721.16−56.0%1.18+8.8% (0.43)
Last year7 Nov 2025 to 2 Nov 2026+62.3%+14.2%1.450.84−26.3%0.94+40.4% (1.23)
DateCompanyAction
21 Aug 2026VTGNBought
21 Aug 2026TNGXBought
21 Aug 2026RACCBought
21 Aug 2026IFRXBought
21 Aug 2026EDITBought
22 May 2026ZURABought
22 May 2026RLMDBought
22 May 2026OCULBought
22 May 2026KPTIBought
22 May 2026IPSCBought
22 May 2026EYPTBought
22 May 2026ERASBought
22 May 2026DFTXBought
22 May 2026CRVSBought
22 May 2026CATXBought
22 May 2026ANTXBought
20 Feb 2026REPLBought
20 Feb 2026PALIBought
20 Feb 2026LONABought
20 Feb 2026CTNMBought
20 Feb 2026ANROBought
21 Nov 2025SABSBought
21 Nov 2025PEPGBought
21 Nov 2025LBRXBought
21 Nov 2025ENTABought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026XENESold
21 Aug 2026PALISold
21 Aug 2026OCULSold
21 Aug 2026NRIXSold
21 Aug 2026KPTISold
21 Aug 2026ERASSold
21 Aug 2026CRVSSold
22 May 2026REPLSold
22 May 2026PTGXSold
22 May 2026ORKASold
22 May 2026DRUGSold
22 May 2026CTNMSold
22 May 2026CTMXSold
20 Feb 2026VTGNSold
20 Feb 2026VRDNSold
20 Feb 2026TNGXSold
20 Feb 2026ENTASold
20 Feb 2026CBIOSold
20 Feb 2026AGIOSold
21 Nov 2025VERASold
21 Nov 2025SRRKSold
21 Nov 2025NGNESold
15 Aug 2025SLDBSold
15 Aug 2025PCVXSold
15 Aug 2025ORICSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest