We are live on ! Find out more
CP

Caligan Partners Portfolio holdings

AUM $1.5B
1-Year Est. Return 518.95%
This Fund
S&P 500
This Quarter Est. Return
+227.57%
1 Year Est. Return
+518.95%
3 Year Est. Return
+1,728.44%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$764M
AUM Growth
+$243M
Cap. Flow
-$43.4M
Cap. Flow %
-5.68%
Top 10 Hldgs %
91%
Holding
22
New
5
Increased
6
Reduced
3
Closed
4

Top Buys

Rank Stock Value
1
ADMA icon
ADMA Biologics
ADMA
+$45.2M
2
RVMD icon
Revolution Medicines
RVMD
+$16.7M
3
MLYS icon
Mineralys Therapeutics
MLYS
+$16.3M
4
XENE icon
Xenon Pharmaceuticals
XENE
+$15.7M
5
AVTX icon
Avalo Therapeutics
AVTX
+$7.17M

Top Sells

Rank Stock Value
1
VRNA
Verona Pharma
VRNA
+$136M
2
MRUS
Merus
MRUS
+$28.7M
3
ABVX
Abivax
ABVX
+$13.6M
4
YMAB
Y-mAbs Therapeutics
YMAB
+$10.6M
5
RZLT icon
Rezolute
RZLT
+$6.88M

Sector Composition

Rank Sector Weight
1 Healthcare 94.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LQDA icon
1
Liquidia Corp
LQDA
$7.72B
$185M 24.18%
8,118,892
– –
ABVX
2
Abivax
ABVX
$10.8B
$123M 16.15%
1,451,924
-222,476
-13% -$13.6M
MLYS icon
3
Mineralys Therapeutics
MLYS
$2.38B
$105M 13.77%
2,772,654
+755,302
+37% +$16.3M
EXEL icon
4
Exelixis
EXEL
$14.2B
$63M 8.25%
1,525,730
– –
RVMD icon
5
Revolution Medicines
RVMD
$39.1B
$49.7M 6.51%
1,064,249
+427,414
+67% +$16.7M
AGIO icon
6
Agios Pharmaceuticals
AGIO
$2.14B
$45.4M 5.95%
1,131,205
+59,947
+6% +$2.25M
AGIO icon
7
PUT
Agios Pharmaceuticals
AGIO
$2.14B
$39.1M 5.13%
+975,000
New +$36.7M
ADMA icon
8
ADMA Biologics
ADMA
$2.04B
$38.7M 5.06%
+2,636,609
New +$45.2M
EOLS icon
9
Evolus
EOLS
$410M
$25.4M 3.33%
4,138,943
+796,973
+24% +$6.21M
MRUS
10
DELISTED
Merus
MRUS
$20.4M 2.68%
216,954
-440,045
-67% -$28.7M
XENE icon
11
Xenon Pharmaceuticals
XENE
$6.28B
$17.8M 2.34%
+444,565
New +$15.7M
ANIK icon
12
Anika Therapeutics
ANIK
$202M
$13.5M 1.77%
1,435,130
– –
AVTX icon
13
Avalo Therapeutics
AVTX
$1.03B
$10.6M 1.39%
+833,333
New +$7.17M
TYRA icon
14
Tyra Biosciences
TYRA
$1.84B
$9.75M 1.28%
696,825
+506,875
+267% +$5.78M
INBX icon
15
Inhibrx
INBX
$1.17B
$7.96M 1.04%
+236,383
New +$5.82M
VRCA icon
16
Verrica Pharmaceuticals
VRCA
$92.8M
$3.98M 0.52%
923,910
-2
-0% -$12
SLS icon
17
CALL
SELLAS Life Sciences
SLS
$1.98B
$3.7M 0.49%
2,300,000
– –
AURA icon
18
Aura Biosciences
AURA
$729M
$1.4M 0.18%
227,174
+27,174
+14% +$178K
BCRX icon
19
BioCryst Pharmaceuticals
BCRX
$2.48B
– –
-638,908
Closed -$5.72M
RZLT icon
20
Rezolute
RZLT
$474M
– –
-1,543,014
Closed -$6.88M
VRNA
21
DELISTED
Verona Pharma
VRNA
– –
-1,436,878
Closed -$136M
YMAB
22
DELISTED
Y-mAbs Therapeutics
YMAB
– –
-2,342,609
Closed -$10.6M

Similar funds

BFO
Boston Family Office Boston, Massachusetts $1.5B AUM 11.68% 1-Year Est. Return
JFGLC
Johnson Financial Group LLC (Colorado) Denver, Colorado $1.5B AUM 16.09% 1-Year Est. Return
AAM
Aureus Asset Management Boston, Massachusetts $1.5B AUM 20.3% 1-Year Est. Return
TP
Theleme Partners London, United Kingdom $1.5B AUM 19.72% 1-Year Est. Return
SCM
SG Capital Management Chicago, Illinois $1.51B AUM 49.98% 1-Year Est. Return
NSGL
No Street GP LP San Francisco, California $1.5B AUM 34.53% 1-Year Est. Return
FMI
F/M Investments Washington, District of Columbia $1.51B AUM 25.86% 1-Year Est. Return
RCW
Rheos Capital Works Tokyo, Japan $1.5B AUM 47.78% 1-Year Est. Return

Caligan Partners's Q3 2025 Portfolio in Review

As of Q3 2025, Caligan Partners held 22 positions worth $764M, up 47% from $520M the previous quarter. Its ten largest holdings account for 91% of the portfolio.

Caligan Partners withdrew a net $43.4M in Q3 2025, closing 4 positions and reducing 3 holdings. Its most notable exit was Verona Pharma, an estimated $136M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 94% of assets, down from 99% a quarter earlier.

Against the trend, Caligan Partners opened a new position in ADMA Biologics worth $38.7M.

  • Caligan Partners's largest Q3 2025 buy was ADMA Biologics: 2,636,609 shares worth $38.7M.
  • Caligan Partners added most to Revolution Medicines in Q3 2025, an estimated $16.7M increase.
  • Caligan Partners's biggest Q3 2025 reduction was Merus, cutting an estimated $28.7M.
  • Caligan Partners fully exited Verona Pharma in Q3 2025, selling an estimated $136M.
  • Caligan Partners's ten largest holdings make up 91% of its $764M portfolio in Q3 2025.
  • Caligan Partners opened 5 new positions and closed 4 in Q3 2025.
  • Caligan Partners's portfolio value rose 47% quarter-over-quarter to $764M.

Based on Caligan Partners's 13F filing for Q3 2025, filed 14 Nov 2025.