Yes it does! High cortisol makes some people gain fat as thei hunger skyrockets when stressed. For others though high cortisol does the opposite where they lose appetite due to stress and lose muscle meaning their body fat percentage ends up higher as muscle atrophies“In a progesterone deficiency, we produce too much cortisol, and excessive cortisol causes osteoporosis, aging of the skin, damage to brain cells, and the accumulation of fat, especially on the back and abdomen.” Ray Peat