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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
+7.52%
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
$1.33B
AUM Growth
+$713M
Cap. Flow
+$1.03B
Cap. Flow %
77.19%
Top 10 Hldgs %
46.07%
Holding
196
New
82
Increased
39
Reduced
17
Closed
45

Top Buys

Rank Stock Value
1
ZGNX
Zogenix, Inc.
ZGNX
+$20M
2
XLRN
Acceleron Pharma
XLRN
+$18.6M
3
TARA icon
Protara Therapeutics
TARA
+$12.9M
4
BTAI icon
BioXcel Therapeutics
BTAI
+$12M
5
VSTM icon
Verastem
VSTM
+$11M

Top Sells

Rank Stock Value
1
APTO
Aptose Biosciences, Inc.
APTO
+$5.72M
2
AUPH icon
Aurinia Pharmaceuticals
AUPH
+$4.63M
3
TGTX icon
TG Therapeutics
TGTX
+$3.51M
4
KALA icon
KALA BIO
KALA
+$3.39M
5
ARQL
Arqule Inc
ARQL
+$2.97M

Sector Composition

Rank Sector Weight
1 Healthcare 19.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$781B
$245M 18.41%
+950,000
New +$290M
TLT icon
2
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$42.8B
$66M 4.96%
+400,000
New +$59.6M
SPY icon
3
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$781B
$64.4M 4.85%
+250,000
New +$76.3M
REGN icon
4
PUT
Regeneron Pharmaceuticals
REGN
$69.9B
$63.5M 4.77%
+130,000
New +$53.6M
BIIB icon
5
CALL
Biogen
BIIB
$29.5B
$45.4M 3.41%
+143,400
New +$43.5M
QQQ icon
6
PUT
Invesco QQQ Trust
QQQ
$449B
$29.6M 2.22%
+550,000
New +$116M
XLRN
7
PUT
DELISTED
Acceleron Pharma
XLRN
$28.5M 2.14%
+316,900
New +$24.6M
ALNY icon
8
CALL
Alnylam Pharmaceuticals
ALNY
$37.2B
$26.9M 2.02%
+246,900
New +$28.5M
AXSM icon
9
CALL
Axsome Therapeutics
AXSM
$12.3B
$22.1M 1.66%
+375,000
New +$30.6M
XLRN
10
DELISTED
Acceleron Pharma
XLRN
$21.5M 1.62%
+239,249
New +$18.6M
MYOK
11
PUT
DELISTED
MyoKardia, Inc. Common Stock
MYOK
$19.7M 1.48%
419,600
+360,600
+611% +$23.1M
XBI icon
12
CALL
State Street SPDR S&P Biotech ETF
XBI
$10.2B
$19.4M 1.46%
+250,000
New +$22.1M
XBI icon
13
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.2B
$19.4M 1.46%
250,000
-100,000
-29% -$8.85M
XLRN
14
CALL
DELISTED
Acceleron Pharma
XLRN
$18.9M 1.42%
+210,200
New +$16.3M
GILD icon
15
CALL
Gilead Sciences
GILD
$162B
$18.7M 1.41%
250,000
-250,000
-50% -$17.3M
ZGNX
16
PUT
DELISTED
Zogenix, Inc.
ZGNX
$18.5M 1.39%
749,400
+601,200
+406% +$21.9M
RETA
17
PUT
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$18M 1.36%
+125,000
New +$24.1M
ALXN
18
CALL
DELISTED
Alexion Pharmaceuticals
ALXN
$18M 1.35%
+200,000
New +$19.6M
IWM icon
19
PUT
iShares Russell 2000 ETF
IWM
$80.3B
$17.2M 1.29%
+150,000
New +$22.4M
ARGX icon
20
PUT
argenx
ARGX
$55.6B
$16.6M 1.25%
+125,800
New +$18.4M
BTAI icon
21
BioXcel Therapeutics
BTAI
$26.8M
$15.5M 1.17%
43,357
+33,459
+338% +$12M
LGND icon
22
CALL
Ligand Pharmaceuticals
LGND
$5.96B
$14.5M 1.09%
+320,600
New +$18.2M
VSTM icon
23
Verastem
VSTM
$534M
$13.9M 1.04%
+437,702
New +$11M
ZGNX
24
DELISTED
Zogenix, Inc.
ZGNX
$13.6M 1.02%
+549,459
New +$20M
IMVT icon
25
Immunovant
IMVT
$8.23B
$13.1M 0.99%
842,463
+338,346
+67% +$5.09M
1
2 3 4 5

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Ikarian Capital's Q1 2020 Portfolio in Review

As of Q1 2020, Ikarian Capital held 196 positions worth $1.33B, up 115% from $617M the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Ikarian Capital deployed $1.03B of net new capital in Q1 2020, opening 82 new positions and adding to 39 existing holdings. Its largest new stake was Zogenix, Inc.: 549,459 shares worth $13.6M.

By sector, the portfolio is most concentrated in Healthcare at 20% of assets, up from 16% a quarter earlier.

On the sell side, the largest reduction was Aurinia Pharmaceuticals, an estimated $4.63M trimmed.

  • Ikarian Capital's largest Q1 2020 buy was Zogenix, Inc.: 549,459 shares worth $13.6M.
  • Ikarian Capital added most to Protara Therapeutics in Q1 2020, an estimated $12.9M increase.
  • Ikarian Capital's biggest Q1 2020 reduction was Aurinia Pharmaceuticals, cutting an estimated $4.63M.
  • Ikarian Capital fully exited Aptose Biosciences, Inc. in Q1 2020, selling an estimated $5.72M.
  • Ikarian Capital's ten largest holdings make up 46% of its $1.33B portfolio in Q1 2020.
  • Ikarian Capital opened 82 new positions and closed 45 in Q1 2020.
  • Ikarian Capital's portfolio value rose 115% quarter-over-quarter to $1.33B.

Based on Ikarian Capital's 13F filing for Q1 2020, filed 15 May 2020.