Filed: 11/14/2025ACC: 0001420506-25-003413
📋 What this filing means
IKARIAN CAPITAL, LLC filed this quarterly 13F‑HR report disclosing 139 equity positions with a total reported market value of $990.39M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
139
Positions
$990.39M
Total AUM (reported)
56.62M
Total Shares
Allocation by class
COM$543.88M54.9%
COM NEW$123.01M12.4%
SPONSORED ADS$105.24M10.6%
S&P BIOTECH$75.15M7.6%
CALL$52.54M5.3%
COM PAR $.01$30.78M3.1%
CLASS A ORD$10.74M1.1%
Portfolio Concentration
Top 3$217.09M21.9%
4–10$216.45M21.9%
11–25$233.12M23.5%
Rest$323.73M32.7%
Top 3 weight
21.9%
Top 10 weight
43.8%
Voting Authority Distribution
Total shares with voting rights: 56.62M
Sole
Full voting authority
56.62M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole139
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings139
Rows:
UNITED THERAPEUTICS CORP DEL
SOLEShares212.10K
TypeSH
Market value$88.91M
8.98%
Sole
212.10K
Shared
0.00
None
0.00
SPDR SERIES TRUST
SOLEShares750K
TypeSH
Market value$75.15M
7.59%
Sole
750K
Shared
0.00
None
0.00
GENMAB A/S
SOLEShares175K
TypeSH
Market value$53.02M
5.35%
Sole
175K
Shared
0.00
None
0.00
BRISTOL-MYERS SQUIBB CO
SOLEShares800K
TypeSH
Market value$36.08M
3.64%
Sole
800K
Shared
0.00
None
0.00
ABIVAX SA
SOLEShares396.10K
TypeSH
Market value$33.42M
3.37%
Sole
396.10K
Shared
0.00
None
0.00
UNIQURE NV
SOLEShares535.60K
TypeSH
Market value$31.26M
3.16%
Sole
535.60K
Shared
0.00
None
0.00
INSMED INC
SOLEShares213.75K
TypeSH
Market value$30.78M
3.11%
Sole
213.75K
Shared
0.00
None
0.00
PTC THERAPEUTICS INC
SOLEShares493.55K
TypeSH
Market value$30.29M
3.06%
Sole
493.55K
Shared
0.00
None
0.00
IONIS PHARMACEUTICALS INC
SOLEShares428.46K
TypeSH
Market value$28.03M
2.83%
Sole
428.46K
Shared
0.00
None
0.00
CIDARA THERAPEUTICS INC
SOLEShares277.70K
TypeSH
Market value$26.59M
2.69%
Sole
277.70K
Shared
0.00
None
0.00
SCHOLAR ROCK HLDG CORP
SOLEShares657.80K
TypeSH
Market value$24.50M
2.47%
Sole
657.80K
Shared
0.00
None
0.00
RAPT THERAPEUTICS INC
SOLEShares790K
TypeSH
Market value$20.37M
2.06%
Sole
790K
Shared
0.00
None
0.00
MAZE THERAPEUTICS INC
SOLEShares740.83K
TypeSH
Market value$19.21M
1.94%
Sole
740.83K
Shared
0.00
None
0.00
SOLENO THERAPEUTICS INC
SOLEShares282.05K
TypeSH
Market value$19.07M
1.93%
Sole
282.05K
Shared
0.00
None
0.00
CYTOKINETICS INC
SOLEShares333.57K
TypeSH
Market value$18.33M
1.85%
Sole
333.57K
Shared
0.00
None
0.00
APELLIS PHARMACEUTICALS INC
SOLEShares809.90K
TypeSH
Market value$18.33M
1.85%
Sole
809.90K
Shared
0.00
None
0.00
CRINETICS PHARMACEUTICALS IN
SOLEShares388.60K
TypeSH
Market value$16.19M
1.63%
Sole
388.60K
Shared
0.00
None
0.00
HARROW INC
SOLEShares289.70K
TypeSH
Market value$13.96M
1.41%
Sole
289.70K
Shared
0.00
None
0.00
DIANTHUS THERAPEUTICS INC
SOLEShares346K
TypeSH
Market value$13.62M
1.37%
Sole
346K
Shared
0.00
None
0.00
BIOHAVEN LTD
SOLEShares796.40K
TypeSH
Market value$11.95M
1.21%
Sole
796.40K
Shared
0.00
None
0.00
FULCRUM THERAPEUTICS INC
SOLEShares1.29M
TypeSH
Market value$11.86M
1.20%
Sole
1.29M
Shared
0.00
None
0.00
AKERO THERAPEUTICS INC
SOLEShares248.45K
TypeSH
Market value$11.80M
1.19%
Sole
248.45K
Shared
0.00
None
0.00
VAXCYTE INC
SOLEShares318.68K
TypeSH
Market value$11.48M
1.16%
Sole
318.68K
Shared
0.00
None
0.00
ANAPTYSBIO INC
SOLEShares370.61K
TypeSH
Market value$11.35M
1.15%
Sole
370.61K
Shared
0.00
None
0.00
AGIOS PHARMACEUTICALS INC
SOLEShares276.98K
TypeSH
Market value$11.12M
1.12%
Sole
276.98K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
UNITED THERAPEUTICS CORP DELSOLE | COM | 212.10K | SH | $88.91M 8.98% | 212.10K | 0.00 | 0.00 |
SPDR SERIES TRUSTSOLE | S&P BIOTECH | 750K | SH | $75.15M 7.59% | 750K | 0.00 | 0.00 |
GENMAB A/SSOLE | SPONSORED ADS | 175K | SH | $53.02M 5.35% | 175K | 0.00 | 0.00 |
BRISTOL-MYERS SQUIBB COSOLE | COM | 800K | SH | $36.08M 3.64% | 800K | 0.00 | 0.00 |
ABIVAX SASOLE | SPONSORED ADS | 396.10K | SH | $33.42M 3.37% | 396.10K | 0.00 | 0.00 |
UNIQURE NVSOLE | CALL | 535.60K | SH | $31.26M 3.16% | 535.60K | 0.00 | 0.00 |
INSMED INCSOLE | COM PAR $.01 | 213.75K | SH | $30.78M 3.11% | 213.75K | 0.00 | 0.00 |
PTC THERAPEUTICS INCSOLE | COM | 493.55K | SH | $30.29M 3.06% | 493.55K | 0.00 | 0.00 |
IONIS PHARMACEUTICALS INCSOLE | COM | 428.46K | SH | $28.03M 2.83% | 428.46K | 0.00 | 0.00 |
CIDARA THERAPEUTICS INCSOLE | COM NEW | 277.70K | SH | $26.59M 2.69% | 277.70K | 0.00 | 0.00 |
SCHOLAR ROCK HLDG CORPSOLE | COM | 657.80K | SH | $24.50M 2.47% | 657.80K | 0.00 | 0.00 |
RAPT THERAPEUTICS INCSOLE | COM NEW | 790K | SH | $20.37M 2.06% | 790K | 0.00 | 0.00 |
MAZE THERAPEUTICS INCSOLE | COM | 740.83K | SH | $19.21M 1.94% | 740.83K | 0.00 | 0.00 |
SOLENO THERAPEUTICS INCSOLE | COM | 282.05K | SH | $19.07M 1.93% | 282.05K | 0.00 | 0.00 |
CYTOKINETICS INCSOLE | COM NEW | 333.57K | SH | $18.33M 1.85% | 333.57K | 0.00 | 0.00 |
APELLIS PHARMACEUTICALS INCSOLE | COM | 809.90K | SH | $18.33M 1.85% | 809.90K | 0.00 | 0.00 |
CRINETICS PHARMACEUTICALS INSOLE | COM | 388.60K | SH | $16.19M 1.63% | 388.60K | 0.00 | 0.00 |
HARROW INCSOLE | COM | 289.70K | SH | $13.96M 1.41% | 289.70K | 0.00 | 0.00 |
DIANTHUS THERAPEUTICS INCSOLE | COM | 346K | SH | $13.62M 1.37% | 346K | 0.00 | 0.00 |
BIOHAVEN LTDSOLE | CALL | 796.40K | SH | $11.95M 1.21% | 796.40K | 0.00 | 0.00 |
FULCRUM THERAPEUTICS INCSOLE | COM | 1.29M | SH | $11.86M 1.20% | 1.29M | 0.00 | 0.00 |
AKERO THERAPEUTICS INCSOLE | COM | 248.45K | SH | $11.80M 1.19% | 248.45K | 0.00 | 0.00 |
VAXCYTE INCSOLE | COM | 318.68K | SH | $11.48M 1.16% | 318.68K | 0.00 | 0.00 |
ANAPTYSBIO INCSOLE | COM | 370.61K | SH | $11.35M 1.15% | 370.61K | 0.00 | 0.00 |
AGIOS PHARMACEUTICALS INCSOLE | COM | 276.98K | SH | $11.12M 1.12% | 276.98K | 0.00 | 0.00 |
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