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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
+39.15%
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
$831M
AUM Growth
+$203M
Cap. Flow
-$333M
Cap. Flow %
-40.1%
Top 10 Hldgs %
41.06%
Holding
181
New
59
Increased
25
Reduced
46
Closed
41

Top Buys

Rank Stock Value
1
RCKT icon
Rocket Pharmaceuticals
RCKT
+$11.9M
2
AKRO
Akero Therapeutics
AKRO
+$9.31M
3
TARS icon
Tarsus Pharmaceuticals
TARS
+$9.18M
4
CPRX
Catalyst Pharmaceutical
CPRX
+$6.77M
5
IMVT icon
Immunovant
IMVT
+$6.73M

Top Sells

Rank Stock Value
1
MRK icon
Merck
MRK
+$11.5M
2
INSM icon
Insmed
INSM
+$7.55M
3
IDYA icon
IDEAYA Biosciences
IDYA
+$6.95M
4
BHVN icon
Biohaven
BHVN
+$6.68M
5
BMEA icon
Biomea Fusion
BMEA
+$6.06M

Sector Composition

Rank Sector Weight
1 Healthcare 31.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BHVN icon
151
CALL
Biohaven
BHVN
$2.03B
– –
-225,000
Closed -$5.38M
BLUE
152
DELISTED
bluebird bio
BLUE
– –
-20,631
Closed -$1.36M
BMEA icon
153
CALL
Biomea Fusion
BMEA
$84.6M
– –
-936,800
Closed -$20.6M
BMEA icon
154
Biomea Fusion
BMEA
$84.6M
– –
-275,875
Closed -$6.06M
BMEA icon
155
PUT
Biomea Fusion
BMEA
$84.6M
– –
-286,700
Closed -$6.29M
CNTB
156
Connect Biopharma Holdings
CNTB
$127M
– –
-219,501
Closed -$244K
ELDN icon
157
Eledon Pharmaceuticals
ELDN
$261M
– –
-221,830
Closed -$304K
KYNB
158
CALL
Kyntra Bio
KYNB
$27.2M
– –
-16,000
Closed -$1.08M
KYNB
159
PUT
Kyntra Bio
KYNB
$27.2M
– –
-15,172
Closed -$1.02M
LEGN icon
160
CALL
Legend Biotech
LEGN
$3.59B
– –
-68,800
Closed -$4.75M
LEGN icon
161
Legend Biotech
LEGN
$3.59B
– –
-25,000
Closed -$1.73M
MDGL icon
162
Madrigal Pharmaceuticals
MDGL
$10.8B
– –
-75
Closed -$17.3K
MRK icon
163
Merck
MRK
$322B
– –
-100,000
Closed -$11.5M
MRSN
164
CALL
DELISTED
Mersana Therapeutics
MRSN
– –
-4,424
Closed -$364K
MRUS
165
DELISTED
Merus
MRUS
– –
-63,125
Closed -$1.66M
PTGX icon
166
CALL
Protagonist Therapeutics
PTGX
$8.79B
– –
-200,000
Closed -$5.52M
PTGX icon
167
Protagonist Therapeutics
PTGX
$8.79B
– –
-35,000
Closed -$967K
PTGX icon
168
PUT
Protagonist Therapeutics
PTGX
$8.79B
– –
-211,400
Closed -$5.84M
QURE icon
169
CALL
uniQure
QURE
$3.03B
– –
-154,400
Closed -$1.77M
TGTX icon
170
CALL
TG Therapeutics
TGTX
$7.96B
– –
-826,100
Closed -$20.5M
TGTX icon
171
PUT
TG Therapeutics
TGTX
$7.96B
– –
-826,100
Closed -$20.5M
XENE icon
172
Xenon Pharmaceuticals
XENE
$6.06B
– –
-135,486
Closed -$5.07M
XFOR icon
173
X4 Pharmaceuticals
XFOR
$375M
– –
-11,638
Closed -$677K
OKUR
174
OnKure Therapeutics
OKUR
$154M
– –
-15,582
Closed -$1.02M
DCPH
175
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
– –
-174,510
Closed -$2.46M
4 5 6
7
8

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Ikarian Capital's Q3 2023 Portfolio in Review

As of Q3 2023, Ikarian Capital held 181 positions worth $831M, up 32% from $628M the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Ikarian Capital withdrew a net $333M in Q3 2023, closing 41 positions and reducing 46 holdings. Its most notable exit was Merck, an estimated $11.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 32% of assets, down from 44% a quarter earlier.

Against the trend, Ikarian Capital opened a new position in Rocket Pharmaceuticals worth $13.4M.

  • Ikarian Capital's largest Q3 2023 buy was Rocket Pharmaceuticals: 654,726 shares worth $13.4M.
  • Ikarian Capital added most to Crinetics Pharmaceuticals in Q3 2023, an estimated $6.55M increase.
  • Ikarian Capital's biggest Q3 2023 reduction was Insmed, cutting an estimated $7.55M.
  • Ikarian Capital fully exited Merck in Q3 2023, selling an estimated $11.5M.
  • Ikarian Capital's ten largest holdings make up 41% of its $831M portfolio in Q3 2023.
  • Ikarian Capital opened 59 new positions and closed 41 in Q3 2023.
  • Ikarian Capital's portfolio value rose 32% quarter-over-quarter to $831M.

Based on Ikarian Capital's 13F filing for Q3 2023, filed 14 Nov 2023.