Ikarian Capital, LLC
CIK: 0001778253Latest portfolio: $1.3B · Q4 2025
Holdings
148
Total Value
$1.3B
New Positions
44
Closed Positions
35
Top Holdings
View All 148 Holdings →| # | Stock | Shares | Value | % Portfolio | Change | Type |
|---|---|---|---|---|---|---|
| 1 | CDTXCIDARA THERAPEUTICS INC | 573,243 | $126.6M | 9.89% | NEW | Put |
| 2 | XBISPDR SERIES TRUST | 850,000 | $103.6M | 8.09% | +100K | Put |
| 3 | AMGNAMGEN INC | 245,000 | $80.2M | 6.26% | NEW | Put |
| 4 | TERNTERNS PHARMACEUTICALS INC | 1,596,378 | $64.5M | 5.04% | +1.4M | |
| 5 | ABVXABIVAX SA | 331,085 | $46.0M | 3.59% | NEW | Call |
| 6 | HROWHARROW INC | 693,047 | $34.0M | 2.65% | +403K | Call |
| 7 | RAPTRAPT THERAPEUTICS INC | 955,271 | $32.4M | 2.53% | +165K | Call |
| 8 | CYTKCYTOKINETICS INC | 463,572 | $29.5M | 2.30% | +130K | Call |
| 9 | JAZZJAZZ PHARMACEUTICALS PLC | 170,000 | $28.9M | 2.26% | +99K | Call |
| 10 | SLNOSOLENO THERAPEUTICS INC | 597,723 | $27.7M | 2.16% | NEW | Call |
| 11 | JAZZJAZZ PHARMACEUTICALS PLC | 160,367 | $27.3M | 2.13% | +83K | |
| 12 | MAZEMAZE THERAPEUTICS INC | 644,680 | $26.7M | 2.09% | -96,145 | |
| 13 | OMEROMEROS CORP | 1,500,000 | $25.8M | 2.01% | NEW | Put |
| 14 | PRAXPRAXIS PRECISION MEDICINES I | 86,581 | $25.5M | 1.99% | NEW | |
| 15 | OLMAOLEMA PHARMACEUTICALS INC | 958,654 | $24.0M | 1.87% | NEW | Call |
| 16 | ISIIONIS PHARMACEUTICALS INC | 296,638 | $23.5M | 1.83% | -131,825 | Call |
| 17 | HTDCORCEPT THERAPEUTICS INC | 586,093 | $20.4M | 1.59% | NEW | Put |
| 18 | KODKODIAK SCIENCES INC | 719,787 | $20.1M | 1.57% | +306K | |
| 19 | RVMDREVOLUTION MEDICINES INC | 233,142 | $18.6M | 1.45% | +138K | Call |
| 20 | PCVXVAXCYTE INC | 378,682 | $17.5M | 1.36% | NEW | |
| 21 | CRNXCRINETICS PHARMACEUTICALS IN | 368,500 | $17.2M | 1.34% | NEW | Put |
| 22 | CAPRCAPRICOR THERAPEUTICS INC | 578,015 | $16.7M | 1.30% | NEW | |
| 23 | FULCFULCRUM THERAPEUTICS INC | 1,375,472 | $15.6M | 1.21% | +86K | |
| 24 | NBIXNEUROCRINE BIOSCIENCES INC | 105,062 | $14.9M | 1.16% | NEW | Call |
| 25 | LLYELI LILLY & CO | 13,815 | $14.8M | 1.16% | NEW |
Quarterly Changes
New Positions
Increased Positions
Sector Breakdown
HealthcareNaN% ($InfinityT)
Unknown0.0% ($1.2662323466912566e+23T)
Financial Services0.0% ($103640204.0T)
Technology0.0% ($2.2M)
Basic Materials0.0% ($106K)
Filing History
| Quarter | Filing Date | Portfolio Value | Holdings |
|---|---|---|---|
| Q4 2025 | Feb 18, 2026 | $1.3B | 174 |
| Q3 2025 | Nov 14, 2025 | $990.4B | 169 |
| Q2 2025 | Aug 14, 2025 | $520.6B | 133 |
| Q1 2025 | May 15, 2025 | $811.5B | 160 |
| Q4 2024 | Feb 14, 2025 | $735.3B | 171 |
| Q3 2024 | Nov 14, 2024 | $717.2B | 145 |
| Q2 2024 | Aug 14, 2024 | $574.1B | 130 |
| Q1 2024 | May 15, 2024 | $959.3B | 138 |
| Q4 2023 | Feb 14, 2024 | $1.1T | 136 |
| Q3 2023 | Nov 14, 2023 | $831.4B | 140 |
| Q2 2023 | Aug 14, 2023 | $627.9B | 122 |
| Q1 2023 | May 15, 2023 | $440.7B | 117 |
| Q4 2022 | Feb 14, 2023 | $414.5B | 86 |
| Q3 2022 | Nov 14, 2022 | $501.8M | 104 |
| Q2 2022 | Aug 12, 2022 | $548.4M | 139 |
| Q1 2022 | May 13, 2022 | $760.5M | 196 |
| Q4 2021 | Feb 14, 2022 | $671.3M | 186 |
| Q3 2021 | Nov 15, 2021 | $1.4B | 209 |
| Q2 2021 | Aug 16, 2021 | $1.2B | 210 |
| Q1 2021 | May 17, 2021 | $3.0B | 291 |
| Q4 2020 | Feb 12, 2021 | $2.3B | 230 |
| Q3 2020 | Nov 16, 2020 | $1.4B | 174 |
| Q2 2020 | Aug 14, 2020 | $1.3B | 164 |
| Q1 2020 | May 15, 2020 | $1.3B | 151 |
| Q4 2019 | Jan 31, 2020 | $617.2M | 114 |
Fund Information
Ikarian Capital, LLC is an institutional investment manager that files 13F reports with the SEC. As of the Q4 2025 filing, the fund reported a portfolio valued at $1.3B across 148 holdings. The largest position is CIDARA THERAPEUTICS INC (CDTX), representing 9.9% of the portfolio. Compared to the previous quarter, the fund opened 60 new positions and closed 51 positions. 13F filings are required quarterly disclosures that provide transparency into the holdings of institutional investment managers with at least $100 million in qualifying assets.