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Ikarian Capital, LLC
hedge fundUpdated 27 days agoManaged by Ikarian Capital, Llc • Latest filing Q2 2026
Portfolio value
$928.2M
Q2 2026
Filings
14
Quarterly 13F history
Top-10 concentration
65.8%
Weight of largest holdings
Annualized return
225.5%
Implied from 13F holdings
Portfolio value history
13F-disclosed portfolio value over 14 quarters
Show data table
| Period | Portfolio value |
|---|---|
| Q1 2023 | $440.7M |
| Q2 2023 | $627.9M |
| Q3 2023 | $831.4M |
| Q4 2023 | $1.1B |
| Q1 2024 | $959.3M |
| Q2 2024 | $574.1M |
| Q3 2024 | $717.2M |
| Q4 2024 | $735.3M |
| Q1 2025 | $811.5M |
| Q2 2025 | $520.6M |
| Q3 2025 | $990.4M |
| Q4 2025 | $1.3B |
| Q1 2026 | $1.2B |
| Q2 2026 | $928.2M |
Top holdings
156 positions as of Q2 2026
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | S STT-PG SPDR SERIES TRUST | $47.5M | 300.0K | 5.11% | — |
| 2 | A AAVXF ABIVAX SA | $45.5M | 341.1K | 4.90% | — |
| 3 | A AAVXF ABIVAX SA | $43.4M | 328.6K | 4.67% | — |
| 4 | K KOD KODIAK SCIENCES INC | $41.3M | 1.06M | 4.45% | — |
| 5 | A AAVXF ABIVAX SA | $33.3M | 250.0K | 3.59% | — |
| 6 | I IONS IONIS PHARMACEUTICALS INC | $31.7M | 400.0K | 3.42% | — |
| 7 | M MRNA MODERNA INC | $28M | 400.0K | 3.02% | — |
| 8 | A ALMS ALUMIS INC | $24.5M | 870.5K | 2.64% | — |
| 9 | P PRAX PRAXIS PRECISION MEDICINES I | $24.4M | 72.8K | 2.63% | — |
| 10 | I IONS IONIS PHARMACEUTICALS INC | $23.8M | 300.0K | 2.56% | — |
| 11 | P PCVX VAXCYTE INC | $22.6M | 388.7K | 2.43% | — |
| 12 | A ANIP ANI PHARMACEUTICALS INC | $22.5M | 272.1K | 2.43% | — |
| 13 | C CLDX CELLDEX THERAPEUTICS INC NEW | $17.8M | 478.5K | 1.92% | — |
| 14 | R RCUS ARCUS BIOSCIENCES INC | $15.6M | 504.6K | 1.68% | — |
| 15 | R RLMD RELMADA THERAPEUTICS INC | $14.9M | 2.15M | 1.60% | — |
| 16 | C CAPR CAPRICOR THERAPEUTICS INC | $14.5M | 604.2K | 1.57% | — |
| 17 | C COGT COGENT BIOSCIENCES INC | $14.3M | 370.1K | 1.54% | — |
| 18 | ? N/A NEWAMSTERDAM PHARMA COMPANY | $13.6M | 400.0K | 1.46% | — |
| 19 | V VERA VERA THERAPEUTICS INC | $13.3M | 310.0K | 1.43% | — |
| 20 | C CTNM CONTINEUM THERAPEUTICS INC | $13.2M | 807.9K | 1.43% | — |