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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
+34.92%
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
$1.07B
AUM Growth
+$237M
Cap. Flow
+$422M
Cap. Flow %
39.55%
Top 10 Hldgs %
35.09%
Holding
191
New
51
Increased
37
Reduced
12
Closed
55

Top Buys

Rank Stock Value
1
ARGX icon
argenx
ARGX
+$32.6M
2
XHB icon
State Street SPDR S&P Homebuilders ETF
XHB
+$16.3M
3
AMLX icon
Amylyx Pharmaceuticals
AMLX
+$13.4M
4
SRPT icon
Sarepta Therapeutics
SRPT
+$12.7M
5
ALPN
Alpine Immune Sciences Inc
ALPN
+$6.77M

Top Sells

Rank Stock Value
1
AKRO
Akero Therapeutics
AKRO
+$10.1M
2
RCKT icon
Rocket Pharmaceuticals
RCKT
+$9.16M
3
SLRN
ACELYRIN
SLRN
+$7.92M
4
PCVX icon
Vaxcyte
PCVX
+$7.26M
5
GPCR icon
Structure Therapeutics
GPCR
+$7.07M

Sector Composition

Rank Sector Weight
1 Healthcare 31.68%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KRYS icon
1
PUT
Krystal Biotech
KRYS
$9.88B
$51.1M 4.79%
412,000
+411,155
+48,657% +$45.6M
CYTK icon
2
CALL
Cytokinetics
CYTK
$11B
$50.4M 4.72%
603,500
+601,465
+29,556% +$21.8M
XBI icon
3
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.1B
$49.1M 4.6%
550,000
+545,000
+10,900% +$40.5M
LLY icon
4
PUT
Eli Lilly
LLY
$1.07T
$40.8M 3.82%
+70,000
New +$40.9M
CRSP icon
5
PUT
CRISPR Therapeutics
CRSP
$4.58B
$40.7M 3.81%
649,400
+647,361
+31,749% +$35.8M
ALNY icon
6
CALL
Alnylam Pharmaceuticals
ALNY
$36.3B
$32.5M 3.04%
+169,700
New +$28.9M
ARGX icon
7
CALL
argenx
ARGX
$57.4B
$29.7M 2.78%
+78,100
New +$36.4M
ARGX icon
8
PUT
argenx
ARGX
$57.4B
$29.7M 2.78%
+78,100
New +$36.4M
ARGX icon
9
argenx
ARGX
$57.4B
$26.5M 2.48%
+70,000
New +$32.6M
CRNX icon
10
Crinetics Pharmaceuticals
CRNX
$8.86B
$24.2M 2.27%
680,370
-112,550
-14% -$3.45M
SLNO
11
DELISTED
Soleno Therapeutics
SLNO
$23.8M 2.22%
590,243
+53,523
+10% +$1.52M
PRTA icon
12
CALL
Prothena Corp
PRTA
$458M
$21.8M 2.04%
+600,000
New +$23.1M
ABBV icon
13
CALL
AbbVie
ABBV
$458B
$20.5M 1.92%
132,500
+131,175
+9,900% +$19.1M
XHB icon
14
State Street SPDR S&P Homebuilders ETF
XHB
$1.74B
$19.1M 1.79%
+200,000
New +$16.3M
AMLX icon
15
CALL
Amylyx Pharmaceuticals
AMLX
$2.05B
$19.1M 1.79%
1,298,400
+1,296,335
+62,777% +$19.9M
BBIO icon
16
BridgeBio Pharma
BBIO
$16.5B
$19.1M 1.79%
473,126
– –
NUVL
17
DELISTED
Nuvalent
NUVL
$19M 1.78%
258,142
-19,892
-7% -$1.23M
ALNY icon
18
PUT
Alnylam Pharmaceuticals
ALNY
$36.3B
$18.9M 1.77%
+98,600
New +$16.8M
KRTX
19
CALL
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
$18.5M 1.74%
+58,600
New +$11.4M
SRPT icon
20
CALL
Sarepta Therapeutics
SRPT
$1.66B
$17.6M 1.65%
182,600
+180,477
+8,501% +$17.3M
LNTH icon
21
CALL
Lantheus
LNTH
$6.82B
$16.7M 1.57%
+270,000
New +$18.3M
PRTA icon
22
PUT
Prothena Corp
PRTA
$458M
$15.2M 1.42%
+418,400
New +$16.1M
SLRN
23
DELISTED
ACELYRIN
SLRN
$14.9M 1.39%
1,991,005
-927,421
-32% -$7.92M
IMGN
24
CALL
DELISTED
Immunogen Inc
IMGN
$13.5M 1.27%
456,800
+453,232
+12,703% +$9.03M
AMLX icon
25
Amylyx Pharmaceuticals
AMLX
$2.05B
$12.9M 1.21%
+877,500
New +$13.4M
1
2 3 4 5

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Ikarian Capital's Q4 2023 Portfolio in Review

As of Q4 2023, Ikarian Capital held 191 positions worth $1.07B, up 28% from $831M the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Ikarian Capital deployed $422M of net new capital in Q4 2023, opening 51 new positions and adding to 37 existing holdings. Its largest new stake was argenx: 70,000 shares worth $26.5M.

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

On the sell side, the largest reduction was Rocket Pharmaceuticals, an estimated $9.16M trimmed.

  • Ikarian Capital's largest Q4 2023 buy was argenx: 70,000 shares worth $26.5M.
  • Ikarian Capital added most to Disc Medicine in Q4 2023, an estimated $2.67M increase.
  • Ikarian Capital's biggest Q4 2023 reduction was Rocket Pharmaceuticals, cutting an estimated $9.16M.
  • Ikarian Capital fully exited Akero Therapeutics in Q4 2023, selling an estimated $10.1M.
  • Ikarian Capital's ten largest holdings make up 35% of its $1.07B portfolio in Q4 2023.
  • Ikarian Capital opened 51 new positions and closed 55 in Q4 2023.
  • Ikarian Capital's portfolio value rose 28% quarter-over-quarter to $1.07B.

Based on Ikarian Capital's 13F filing for Q4 2023, filed 14 Feb 2024.