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Ikarian Capital Portfolio holdings

AUM $1.23B
1-Year Est. Return 600.17%
This Fund
S&P 500
This Quarter Est. Return
+6.82%
1 Year Est. Return
+600.17%
3 Year Est. Return
+5,763.15%
5 Year Est. Return
+15,527.6%
10 Year Est. Return
–
AUM
$671M
AUM Growth
-$749M
Cap. Flow
-$596M
Cap. Flow %
-88.74%
Top 10 Hldgs %
41.79%
Holding
248
New
39
Increased
16
Reduced
53
Closed
62

Top Buys

Rank Stock Value
1
KZR
Kezar Life Sciences
KZR
+$11.5M
2
ZNTL icon
Zentalis Pharmaceuticals
ZNTL
+$7.64M
3
CLDX icon
Celldex Therapeutics
CLDX
+$6.48M
4
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$5.45M
5
GBT
Global Blood Therapeutics, Inc.
GBT
+$5.08M

Top Sells

Rank Stock Value
1
APLS
Apellis Pharmaceuticals
APLS
+$13.7M
2
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$7.89M
3
CMPS
Compass Pathways
CMPS
+$6.85M
4
XENE icon
Xenon Pharmaceuticals
XENE
+$5.93M
5
BCAB icon
BioAtla
BCAB
+$5.78M

Sector Composition

Rank Sector Weight
1 Healthcare 50.73%
2 Consumer Staples 0.3%
3 Technology 0.3%
4 Financials 0.11%
5 Real Estate 0.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QNCX icon
226
Quince Therapeutics
QNCX
$22.9M
– –
-101
Closed -$1.85M
RFL icon
227
CALL
Rafael Holdings
RFL
$101M
– –
-588,526
Closed -$17.8M
RLAY icon
228
CALL
Relay Therapeutics
RLAY
$4.1B
– –
-80,000
Closed -$2.52M
RLAY icon
229
PUT
Relay Therapeutics
RLAY
$4.1B
– –
-80,000
Closed -$2.52M
SPY icon
230
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$790B
– –
-300,000
Closed -$129M
SRPT icon
231
Sarepta Therapeutics
SRPT
$1.57B
– –
-6,496
Closed -$555K
STRO icon
232
Sutro Biopharma
STRO
$401M
– –
-13,458
Closed -$2.54M
STTK icon
233
Shattuck Labs
STTK
$675M
– –
-36,240
Closed -$739K
UNH icon
234
CALL
UnitedHealth
UNH
$376B
– –
-100,000
Closed -$39.1M
XENE icon
235
CALL
Xenon Pharmaceuticals
XENE
$6.06B
– –
-546,700
Closed -$8.35M
XENE icon
236
PUT
Xenon Pharmaceuticals
XENE
$6.06B
– –
-230,000
Closed -$3.52M
ZNTL icon
237
CALL
Zentalis Pharmaceuticals
ZNTL
$337M
– –
-200,000
Closed -$13.3M
ITCI
238
DELISTED
Intra-Cellular Therapies Inc.
ITCI
– –
-211,670
Closed -$7.89M
VINC
239
DELISTED
Vincerx Pharma, Inc. Common Stock
VINC
– –
-9,953
Closed -$3.22M
CERE
240
DELISTED
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
– –
-53,370
Closed -$1.57M
MRTX
241
CALL
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
– –
-70,000
Closed -$12.4M
ISEE
242
CALL
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
– –
-200,000
Closed -$3.25M
TCDA
243
DELISTED
Tricida, Inc. Common Stock
TCDA
– –
-670,771
Closed -$3.11M
CCXI
244
CALL
DELISTED
ChemoCentryx, Inc.
CCXI
– –
-600,000
Closed -$10.3M
CCXI
245
PUT
DELISTED
ChemoCentryx, Inc.
CCXI
– –
-600,000
Closed -$10.3M
KLDO
246
DELISTED
Kaleido Biosciences, Inc. Common Stock
KLDO
– –
-100,000
Closed -$546K
DRNA
247
CALL
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
– –
-493,600
Closed -$9.95M
TRIL
248
CALL
DELISTED
Trillium Therapeutics Inc.
TRIL
– –
-198,400
Closed -$3.48M
6 7 8 9
10

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WCM
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Ikarian Capital's Q4 2021 Portfolio in Review

As of Q4 2021, Ikarian Capital held 248 positions worth $671M, down 53% from $1.42B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Ikarian Capital withdrew a net $596M in Q4 2021, closing 62 positions and reducing 53 holdings. Its most notable exit was Apellis Pharmaceuticals, an estimated $13.7M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 51% of assets, up from 30% a quarter earlier, followed by Consumer Staples and Technology.

Against the trend, Ikarian Capital opened a new position in Kezar Life Sciences worth $17.1M.

  • Ikarian Capital's largest Q4 2021 buy was Kezar Life Sciences: 102,092 shares worth $17.1M.
  • Ikarian Capital added most to Zentalis Pharmaceuticals in Q4 2021, an estimated $7.64M increase.
  • Ikarian Capital's biggest Q4 2021 reduction was Xenon Pharmaceuticals, cutting an estimated $5.93M.
  • Ikarian Capital fully exited Apellis Pharmaceuticals in Q4 2021, selling an estimated $13.7M.
  • Ikarian Capital's ten largest holdings make up 42% of its $671M portfolio in Q4 2021.
  • Ikarian Capital opened 39 new positions and closed 62 in Q4 2021.
  • Ikarian Capital's portfolio value fell 53% quarter-over-quarter to $671M.

Based on Ikarian Capital's 13F filing for Q4 2021, filed 14 Feb 2022.