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Ikarian Capital Portfolio holdings

AUM $928M
1-Year Est. Return 596.14%
This Fund
S&P 500
This Quarter Est. Return
+17.58%
1 Year Est. Return
+596.14%
3 Year Est. Return
+5,184.12%
5 Year Est. Return
+18,295.93%
10 Year Est. Return
–
AUM
$2.97B
AUM Growth
+$703M
Cap. Flow
+$127M
Cap. Flow %
4.29%
Top 10 Hldgs %
34.36%
Holding
350
New
119
Increased
64
Reduced
60
Closed
59

Top Buys

Rank Stock Value
1
ODT
Odonate Therapeutics, Inc. Common Stock
ODT
+$25.3M
2
LLY icon
Eli Lilly
LLY
+$24.5M
3
LKFT
Lakefront Biotherapeutics American Depositary Shares
LKFT
+$18.4M
4
XFOR icon
X4 Pharmaceuticals
XFOR
+$15.7M
5
MGNX icon
MacroGenics
MGNX
+$12.2M

Top Sells

Rank Stock Value
1
MORF
Morphic Holding, Inc. Common Stock
MORF
+$21.4M
2
KALV
KalVista Pharmaceuticals
KALV
+$20.2M
3
BMY icon
Bristol-Myers Squibb
BMY
+$17.9M
4
CLDX icon
Celldex Therapeutics
CLDX
+$17.7M
5
PRTA icon
Prothena Corp
PRTA
+$14.1M

Sector Composition

Rank Sector Weight
1 Miscellaneous 77.58%
2 Healthcare 22.27%
3 Industrials 0.08%
4 Consumer Staples 0.05%
5 Financials 0.03%
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
$810B
$218M 7.34%
550,000
+310,000
+129% +$120M
ARKK icon
2
PUT
ARK Innovation ETF
ARKK
$6.43B
$132M 4.44%
+1,100,000
New +$149M
XBI icon
3
PUT
State Street SPDR S&P Biotech ETF
XBI
$11.3B
$129M 4.34%
950,000
+41,900
+5% +$6.27M
BIIB icon
4
CALL
Biogen
BIIB
$31.4B
$110M 3.72%
394,900
-75,500
-16% -$20.4M
IWM icon
5
PUT
iShares Russell 2000 ETF
IWM
$80.1B
$99.4M 3.35%
+450,000
New +$98.3M
MRNA icon
6
PUT
Moderna
MRNA
$56B
$78.6M 2.64%
600,000
-850,000
-59% -$123M
ARKG icon
7
PUT
ARK Genomic Revolution ETF
ARKG
$2.01B
$75.8M 2.55%
854,000
+413,900
+94% +$41.1M
QQQ icon
8
PUT
Invesco QQQ Trust
QQQ
$490B
$63.8M 2.15%
+200,000
New +$64M
HZNP
9
CALL
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$58.2M 1.96%
632,200
-345,000
-35% -$29.1M
ONC
10
PUT
BeOne Medicines Ltd
ONC
$39.8B
$55.9M 1.88%
160,500
+63,200
+65% +$20.9M
TLT icon
11
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$47.1B
$54.2M 1.82%
+400,000
New +$58M
XLI icon
12
CALL
State Street Industrial Select Sector SPDR ETF
XLI
$32.1B
$49.2M 1.66%
+500,000
New +$45.8M
XBI icon
13
CALL
State Street SPDR S&P Biotech ETF
XBI
$11.3B
$47.5M 1.6%
350,000
+280,000
+400% +$41.9M
VRTX icon
14
PUT
Vertex Pharmaceuticals
VRTX
$134B
$43M 1.45%
+200,000
New +$43.9M
SOXX icon
15
PUT
iShares Semiconductor ETF
SOXX
$43.5B
$42.4M 1.43%
+300,000
New +$41M
TLT icon
16
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$47.1B
$40.6M 1.37%
+300,000
New +$43.5M
XLF icon
17
CALL
State Street Financial Select Sector SPDR ETF
XLF
$54.3B
$37.8M 1.27%
+1,109,400
New +$35.6M
IBB icon
18
CALL
iShares Biotechnology ETF
IBB
$10.5B
$37.6M 1.27%
+250,000
New +$39.7M
NVAX icon
19
PUT
Novavax
NVAX
$1.68B
$35.5M 1.19%
195,700
-128,000
-40% -$25.5M
SRPT icon
20
PUT
Sarepta Therapeutics
SRPT
$2.21B
$34M 1.14%
455,900
-415,000
-48% -$38.3M
CVAC
21
PUT
DELISTED
CureVac
CVAC
$32.9M 1.11%
360,000
+98,800
+38% +$9.58M
BEAM icon
22
PUT
Beam Therapeutics
BEAM
$2.77B
$28.8M 0.97%
360,000
+129,000
+56% +$12.3M
GILD icon
23
CALL
Gilead Sciences
GILD
$182B
$28.7M 0.96%
443,600
+143,600
+48% +$9.26M
MRTX
24
PUT
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$27.8M 0.93%
+162,000
New +$32.1M
EXAS
25
PUT
DELISTED
Exact Sciences
EXAS
$27M 0.91%
+205,000
New +$28.1M
1
2 3 4 5

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Ikarian Capital's Q1 2021 Portfolio in Review

As of Q1 2021, Ikarian Capital held 350 positions worth $2.97B, up 31% from $2.27B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Ikarian Capital deployed $127M of net new capital in Q1 2021, opening 119 new positions and adding to 64 existing holdings. Its largest new stake was Odonate Therapeutics, Inc. Common Stock: 1,336,412 shares worth $4.57M.

By sector, the portfolio is most concentrated in Miscellaneous at 78% of assets, up from 76% a quarter earlier, followed by Healthcare and Industrials.

On the sell side, the largest reduction was Morphic Holding, Inc. Common Stock, an estimated $21.4M trimmed.

  • Ikarian Capital's largest Q1 2021 buy was Odonate Therapeutics, Inc. Common Stock: 1,336,412 shares worth $4.57M.
  • Ikarian Capital added most to X4 Pharmaceuticals in Q1 2021, an estimated $15.7M increase.
  • Ikarian Capital's biggest Q1 2021 reduction was Morphic Holding, Inc. Common Stock, cutting an estimated $21.4M.
  • Ikarian Capital fully exited Bristol-Myers Squibb in Q1 2021, selling an estimated $17.9M.
  • Ikarian Capital's ten largest holdings make up 34% of its $2.97B portfolio in Q1 2021.
  • Ikarian Capital opened 119 new positions and closed 59 in Q1 2021.
  • Ikarian Capital's portfolio value rose 31% quarter-over-quarter to $2.97B.

Based on Ikarian Capital's 13F filing for Q1 2021, filed 17 May 2021.