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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
+91.23%
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
$735M
AUM Growth
+$18.1M
Cap. Flow
+$54.1M
Cap. Flow %
7.36%
Top 10 Hldgs %
42.08%
Holding
212
New
67
Increased
34
Reduced
65
Closed
41

Top Buys

Rank Stock Value
1
SRRK icon
Scholar Rock
SRRK
+$11.6M
2
TGTX icon
TG Therapeutics
TGTX
+$8.36M
3
BPMC
Blueprint Medicines
BPMC
+$7.73M
4
FBRX icon
Forte Biosciences
FBRX
+$7.25M
5
VIR icon
Vir Biotechnology
VIR
+$7.08M

Top Sells

Rank Stock Value
1
TARS icon
Tarsus Pharmaceuticals
TARS
+$19.2M
2
ONC
BeOne Medicines Ltd
ONC
+$18M
3
SLNO
Soleno Therapeutics
SLNO
+$11.5M
4
RCUS icon
Arcus Biosciences
RCUS
+$5.97M
5
TECX
Tectonic Therapeutic
TECX
+$5.28M

Sector Composition

Rank Sector Weight
1 Healthcare 47.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APLS
176
PUT
DELISTED
Apellis Pharmaceuticals
APLS
– –
-200,000
Closed -$5.77M
JBIO
177
Jade Biosciences
JBIO
$1.2B
– –
-10,513
Closed -$769K
BDTX icon
178
CALL
Black Diamond Therapeutics
BDTX
$96.8M
– –
-700,000
Closed -$3.04M
BDTX icon
179
PUT
Black Diamond Therapeutics
BDTX
$96.8M
– –
-950,000
Closed -$4.13M
BHVN icon
180
PUT
Biohaven
BHVN
$2.03B
– –
-325,600
Closed -$16.3M
CAPR icon
181
Capricor Therapeutics
CAPR
$223M
– –
-300,000
Closed -$5.26M
CLDX icon
182
CALL
Celldex Therapeutics
CLDX
$2.99B
– –
-305,500
Closed -$10.4M
CRBP icon
183
CALL
Corbus Pharmaceuticals
CRBP
$166M
– –
-107,800
Closed -$2.22M
CRBP icon
184
PUT
Corbus Pharmaceuticals
CRBP
$166M
– –
-233,100
Closed -$4.81M
CRVO icon
185
CervoMed
CRVO
$23.9M
– –
-202,345
Closed -$2.95M
CYTK icon
186
CALL
Cytokinetics
CYTK
$10.5B
– –
-52,300
Closed -$2.76M
FULC icon
187
CALL
Fulcrum Therapeutics
FULC
$239M
– –
-422,800
Closed -$1.51M
FULC icon
188
PUT
Fulcrum Therapeutics
FULC
$239M
– –
-22,800
Closed -$81.4K
IFRX icon
189
InflaRx
IFRX
$250M
– –
-704,987
Closed -$1.08M
IMTX icon
190
Immatics
IMTX
$1.18B
– –
-49,415
Closed -$564K
JANX icon
191
PUT
Janux Therapeutics
JANX
$925M
– –
-365,200
Closed -$16.6M
MDGL icon
192
PUT
Madrigal Pharmaceuticals
MDGL
$10.8B
– –
-23,500
Closed -$4.99M
NAMS icon
193
CALL
NewAmsterdam Pharma
NAMS
$3.25B
– –
-29,100
Closed -$483K
NYXH
194
Nyxoah
NYXH
$140M
– –
-50,699
Closed -$484K
PRQR icon
195
ProQR Therapeutics
PRQR
$243M
– –
-483,583
Closed -$880K
PRTA icon
196
CALL
Prothena Corp
PRTA
$425M
– –
-11,800
Closed -$197K
PRTA icon
197
PUT
Prothena Corp
PRTA
$425M
– –
-11,800
Closed -$197K
PYXS icon
198
CALL
Pyxis Oncology
PYXS
$168M
– –
-358,600
Closed -$1.32M
RAPT
199
DELISTED
RAPT Therapeutics
RAPT
– –
-19,328
Closed -$311K
ROIV icon
200
Roivant Sciences
ROIV
$24.5B
– –
-100,609
Closed -$1.16M
5 6 7
8
9

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GX
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WCM
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Ikarian Capital's Q4 2024 Portfolio in Review

As of Q4 2024, Ikarian Capital held 212 positions worth $735M, up 2.5% from $717M the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Ikarian Capital deployed $54.1M of net new capital in Q4 2024, opening 67 new positions and adding to 34 existing holdings. Its largest new stake was Scholar Rock: 357,185 shares worth $15.4M.

By sector, the portfolio is most concentrated in Healthcare at 48% of assets, up from 45% a quarter earlier.

On the sell side, the largest reduction was Tarsus Pharmaceuticals, an estimated $19.2M trimmed.

  • Ikarian Capital's largest Q4 2024 buy was Scholar Rock: 357,185 shares worth $15.4M.
  • Ikarian Capital added most to Blueprint Medicines in Q4 2024, an estimated $7.73M increase.
  • Ikarian Capital's biggest Q4 2024 reduction was Tarsus Pharmaceuticals, cutting an estimated $19.2M.
  • Ikarian Capital fully exited BeOne Medicines Ltd in Q4 2024, selling an estimated $18M.
  • Ikarian Capital's ten largest holdings make up 42% of its $735M portfolio in Q4 2024.
  • Ikarian Capital opened 67 new positions and closed 41 in Q4 2024.
  • Ikarian Capital's portfolio value rose 2.5% quarter-over-quarter to $735M.

Based on Ikarian Capital's 13F filing for Q4 2024, filed 14 Feb 2025.