Fairmount Funds Management LLC

Fairmount Funds Management's $1.38B 13F shows a manager in balanced rebalancing mode: two positions increased, two decreased, three sold out, two new entries, and six unchanged. That symmetric activity profile — neither net accumulation nor net liquidation — reads as a manager actively managing toward target weights within its existing research perimeter. The portfolio edged down slightly from $1.31B, implying modest net selling or performance headwind in a concentrated book. The WhaleScore of 79 reflects a long-term record from this concentrated approach, and this quarter's filing is consistent with a mature mandate that makes regular rebalancing decisions rather than dramatic directional rotations.