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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
XBI icon
1
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.1B
$67.5M 9.19%
750,000
+250,000
+50% +$24.2M
XBI icon
2
CALL
State Street SPDR S&P Biotech ETF
XBI
$10.1B
$63M 8.57%
+700,000
New +$67.8M
TSN icon
3
PUT
Tyson Foods
TSN
$20.2B
$36.2M 4.92%
+630,000
New +$38.1M
TARS icon
4
Tarsus Pharmaceuticals
TARS
$2.56B
$33.6M 4.58%
607,689
-422,588
-41% -$19.2M
CRNX icon
5
Crinetics Pharmaceuticals
CRNX
$8.86B
$26.4M 3.59%
516,431
+89,518
+21% +$5.01M
AMGN icon
6
CALL
Amgen
AMGN
$203B
$19.3M 2.62%
74,000
-72,000
-49% -$21.4M
BBIO icon
7
CALL
BridgeBio Pharma
BBIO
$16.5B
$19.2M 2.61%
+700,000
New +$18.1M
SRRK icon
8
Scholar Rock
SRRK
$5.71B
$15.4M 2.1%
+357,185
New +$11.6M
BPMC
9
DELISTED
Blueprint Medicines
BPMC
$14.8M 2.01%
169,374
+84,374
+99% +$7.73M
FBRX icon
10
Forte Biosciences
FBRX
$1.12B
$13.8M 1.88%
+609,225
New +$7.25M
PPC icon
11
PUT
Pilgrim's Pride
PPC
$6.82B
$13.6M 1.85%
+300,000
New +$14.6M
RNAM
12
PUT
DELISTED
Avidity Biosciences
RNAM
$11.6M 1.58%
+400,000
New +$16.7M
INSM icon
13
CALL
Insmed
INSM
$23.2B
$10.4M 1.41%
+150,000
New +$10.8M
SRPT icon
14
CALL
Sarepta Therapeutics
SRPT
$1.66B
$9.85M 1.34%
+81,000
New +$9.93M
NMRA icon
15
CALL
Neumora Therapeutics
NMRA
$276M
$9.54M 1.3%
900,000
+500,000
+125% +$5.99M
VRDN icon
16
Viridian Therapeutics
VRDN
$2.13B
$9.01M 1.23%
469,949
-30,028
-6% -$653K
ELVN icon
17
Enliven Therapeutics
ELVN
$3.78B
$8.88M 1.21%
394,538
-105,028
-21% -$2.72M
TGTX icon
18
TG Therapeutics
TGTX
$8.58B
$8.77M 1.19%
+291,240
New +$8.36M
AXSM icon
19
CALL
Axsome Therapeutics
AXSM
$12.4B
$8.46M 1.15%
+100,000
New +$9.2M
INSM icon
20
Insmed
INSM
$23.2B
$8.27M 1.12%
119,800
-35,035
-23% -$2.52M
CALM icon
21
PUT
Cal-Maine
CALM
$4.28B
$7.72M 1.05%
+75,000
New +$7.08M
GPCR icon
22
Structure Therapeutics
GPCR
$3.49B
$7.7M 1.05%
284,085
+168,885
+147% +$5.99M
DNA icon
23
CALL
Ginkgo Bioworks
DNA
$481M
$7.56M 1.03%
+769,700
New +$6.6M
RARE icon
24
Ultragenyx Pharmaceutical
RARE
$2.65B
$7.53M 1.02%
178,989
-11
-0% -$546
IMVT icon
25
CALL
Immunovant
IMVT
$8.09B
$7.43M 1.01%
300,000
-200,000
-40% -$5.67M
1
2 3 4 5

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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.