We are live on ! Find out more
IC

Ikarian Capital Portfolio holdings

AUM $1.23B
1-Year Est. Return 600.17%
This Fund
S&P 500
This Quarter Est. Return
-11.76%
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
$811M
AUM Growth
+$76.2M
Cap. Flow
+$164M
Cap. Flow %
20.18%
Top 10 Hldgs %
56%
Holding
229
New
58
Increased
27
Reduced
37
Closed
69

Top Buys

Rank Stock Value
1
PCVX icon
Vaxcyte
PCVX
+$16M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$14.7M
3
SRPT icon
Sarepta Therapeutics
SRPT
+$14.2M
4
AKRO
Akero Therapeutics
AKRO
+$10.4M
5
PRAX icon
Praxis Precision Medicines
PRAX
+$9.09M

Top Sells

Rank Stock Value
1
SYRE icon
Spyre Therapeutics
SYRE
+$6.57M
2
TARS icon
Tarsus Pharmaceuticals
TARS
+$6.06M
3
AVTX icon
Avalo Therapeutics
AVTX
+$5.84M
4
BPMC
Blueprint Medicines
BPMC
+$5.41M
5
SRRK icon
Scholar Rock
SRRK
+$4.35M

Sector Composition

Rank Sector Weight
1 Healthcare 36.1%
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
$778B
$179M 22.06%
+320,000
New +$188M
LLY icon
2
PUT
Eli Lilly
LLY
$1.07T
$124M 15.27%
+150,000
New +$125M
CORT icon
3
PUT
Corcept Therapeutics
CORT
$10.2B
$32.9M 4.05%
+287,900
New +$17.5M
TARS icon
4
Tarsus Pharmaceuticals
TARS
$2.56B
$24.9M 3.07%
485,021
-122,668
-20% -$6.06M
BBIO icon
5
CALL
BridgeBio Pharma
BBIO
$16.5B
$22.7M 2.79%
655,400
-44,600
-6% -$1.5M
CRNX icon
6
Crinetics Pharmaceuticals
CRNX
$8.86B
$17.6M 2.16%
523,431
+7,000
+1% +$261K
SLNO
7
CALL
DELISTED
Soleno Therapeutics
SLNO
$17.4M 2.14%
+243,000
New +$11.8M
SPY icon
8
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$14M 1.72%
+25,000
New +$14.7M
CORT icon
9
CALL
Corcept Therapeutics
CORT
$10.2B
$11.4M 1.41%
+100,000
New +$6.09M
SRPT icon
10
Sarepta Therapeutics
SRPT
$1.66B
$10.8M 1.33%
169,087
+135,000
+396% +$14.2M
BPMC
11
DELISTED
Blueprint Medicines
BPMC
$10.1M 1.24%
113,904
-55,470
-33% -$5.41M
AKRO
12
DELISTED
Akero Therapeutics
AKRO
$9.92M 1.22%
+245,000
New +$10.4M
RNAM
13
PUT
DELISTED
Avidity Biosciences
RNAM
$8.86M 1.09%
300,000
-100,000
-25% -$3.11M
ALNY icon
14
Alnylam Pharmaceuticals
ALNY
$36.3B
$8.53M 1.05%
+31,594
New +$8.12M
BHVN icon
15
CALL
Biohaven
BHVN
$2.16B
$8.37M 1.03%
+348,200
New +$12.3M
TGTX icon
16
TG Therapeutics
TGTX
$8.58B
$8.28M 1.02%
210,065
-81,175
-28% -$2.73M
VRNA
17
DELISTED
Verona Pharma
VRNA
$8.25M 1.02%
130,000
+50,000
+63% +$2.99M
RARE icon
18
Ultragenyx Pharmaceutical
RARE
$2.65B
$7.86M 0.97%
216,989
+38,000
+21% +$1.58M
SRRK icon
19
Scholar Rock
SRRK
$5.71B
$7.85M 0.97%
244,179
-113,006
-32% -$4.35M
PCVX icon
20
Vaxcyte
PCVX
$7.89B
$7.55M 0.93%
+200,000
New +$16M
TRUP icon
21
CALL
Trupanion
TRUP
$1.05B
$7.45M 0.92%
+200,000
New +$8.32M
ACLX
22
PUT
DELISTED
Arcellx
ACLX
$7.32M 0.9%
+111,600
New +$7.56M
SLNO
23
PUT
DELISTED
Soleno Therapeutics
SLNO
$7.14M 0.88%
100,000
+25,000
+33% +$1.22M
VIR icon
24
Vir Biotechnology
VIR
$1.47B
$6.92M 0.85%
1,068,062
+170,200
+19% +$1.51M
IMVT icon
25
PUT
Immunovant
IMVT
$8.09B
$6.84M 0.84%
+400,000
New +$8.37M
1
2 3 4 5

Similar funds

FLII
First Long Island Investors Jericho, New York $1.23B AUM 14.42% 1-Year Est. Return
NHAS
Novo Holdings A/S Hellerup, Denmark $1.23B AUM 81.32% 1-Year Est. Return
HCA
Harbor Capital Advisors Chicago, Illinois $1.23B AUM 30.56% 1-Year Est. Return
GX
Greylock XIV Menlo Park, California $1.24B AUM
WCM
Windward Capital Management Los Angeles, California $1.23B AUM 23.17% 1-Year Est. Return
MP
Mangrove Partners Greenwich, Connecticut $1.24B AUM 41.74% 1-Year Est. Return
IA
Inspire Advisors Meridian, Idaho $1.23B AUM 18.62% 1-Year Est. Return
IB
Intrust Bank Wichita, Kansas $1.23B AUM 26.34% 1-Year Est. Return

Ikarian Capital's Q1 2025 Portfolio in Review

As of Q1 2025, Ikarian Capital held 229 positions worth $811M, up 10% from $735M the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Ikarian Capital deployed $164M of net new capital in Q1 2025, opening 58 new positions and adding to 27 existing holdings. Its largest new stake was Vaxcyte: 200,000 shares worth $7.55M.

By sector, the portfolio is most concentrated in Healthcare at 36% of assets, down from 48% a quarter earlier.

On the sell side, the largest reduction was Tarsus Pharmaceuticals, an estimated $6.06M trimmed.

  • Ikarian Capital's largest Q1 2025 buy was Vaxcyte: 200,000 shares worth $7.55M.
  • Ikarian Capital added most to Sarepta Therapeutics in Q1 2025, an estimated $14.2M increase.
  • Ikarian Capital's biggest Q1 2025 reduction was Tarsus Pharmaceuticals, cutting an estimated $6.06M.
  • Ikarian Capital fully exited Spyre Therapeutics in Q1 2025, selling an estimated $6.57M.
  • Ikarian Capital's ten largest holdings make up 56% of its $811M portfolio in Q1 2025.
  • Ikarian Capital opened 58 new positions and closed 69 in Q1 2025.
  • Ikarian Capital's portfolio value rose 10% quarter-over-quarter to $811M.

Based on Ikarian Capital's 13F filing for Q1 2025, filed 15 May 2025.