Filed: 2/18/2026ACC: 0001420506-26-000592
📋 What this filing means
IKARIAN CAPITAL, LLC filed this quarterly 13F‑HR report disclosing 148 equity positions with a total reported market value of $1.28B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
148
Positions
$1.28B
Total AUM (reported)
67.29M
Total Shares
Allocation by class
COM$673.63M52.6%
COM NEW$326.72M25.5%
STATE STREET SPD$103.64M8.1%
SPONSORED ADS$59.61M4.7%
CALL$31.42M2.5%
SHS USD$27.26M2.1%
SHS$18.27M1.4%
Portfolio Concentration
Top 3$310.46M24.2%
4–10$262.84M20.5%
11–25$308.39M24.1%
Rest$399.20M31.2%
Top 3 weight
24.2%
Top 10 weight
44.8%
Voting Authority Distribution
Total shares with voting rights: 67.29M
Sole
Full voting authority
67.29M
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)
Sole148
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings148
Rows:
CIDARA THERAPEUTICS INC
SOLEShares573.24K
TypeSH
Market value$126.62M
9.89%
Sole
573.24K
Shared
0.00
None
0.00
SPDR SERIES TRUST
SOLEShares850K
TypeSH
Market value$103.64M
8.09%
Sole
850K
Shared
0.00
None
0.00
AMGEN INC
SOLEShares245K
TypeSH
Market value$80.19M
6.26%
Sole
245K
Shared
0.00
None
0.00
TERNS PHARMACEUTICALS INC
SOLEShares1.60M
TypeSH
Market value$64.49M
5.04%
Sole
1.60M
Shared
0.00
None
0.00
ABIVAX SA
SOLEShares331.08K
TypeSH
Market value$46.00M
3.59%
Sole
331.08K
Shared
0.00
None
0.00
HARROW INC
SOLEShares693.05K
TypeSH
Market value$33.96M
2.65%
Sole
693.05K
Shared
0.00
None
0.00
RAPT THERAPEUTICS INC
SOLEShares955.27K
TypeSH
Market value$32.36M
2.53%
Sole
955.27K
Shared
0.00
None
0.00
CYTOKINETICS INC
SOLEShares463.57K
TypeSH
Market value$29.46M
2.30%
Sole
463.57K
Shared
0.00
None
0.00
JAZZ PHARMACEUTICALS PLC
SOLEShares170K
TypeSH
Market value$28.90M
2.26%
Sole
170K
Shared
0.00
None
0.00
SOLENO THERAPEUTICS INC
SOLEShares597.72K
TypeSH
Market value$27.67M
2.16%
Sole
597.72K
Shared
0.00
None
0.00
JAZZ PHARMACEUTICALS PLC
SOLEShares160.37K
TypeSH
Market value$27.26M
2.13%
Sole
160.37K
Shared
0.00
None
0.00
MAZE THERAPEUTICS INC
SOLEShares644.68K
TypeSH
Market value$26.71M
2.09%
Sole
644.68K
Shared
0.00
None
0.00
OMEROS CORP
SOLEShares1.50M
TypeSH
Market value$25.76M
2.01%
Sole
1.50M
Shared
0.00
None
0.00
PRAXIS PRECISION MEDICINES I
SOLEShares86.58K
TypeSH
Market value$25.52M
1.99%
Sole
86.58K
Shared
0.00
None
0.00
OLEMA PHARMACEUTICALS INC
SOLEShares958.65K
TypeSH
Market value$23.97M
1.87%
Sole
958.65K
Shared
0.00
None
0.00
IONIS PHARMACEUTICALS INC
SOLEShares296.64K
TypeSH
Market value$23.47M
1.83%
Sole
296.64K
Shared
0.00
None
0.00
CORCEPT THERAPEUTICS INC
SOLEShares586.09K
TypeSH
Market value$20.40M
1.59%
Sole
586.09K
Shared
0.00
None
0.00
KODIAK SCIENCES INC
SOLEShares719.79K
TypeSH
Market value$20.13M
1.57%
Sole
719.79K
Shared
0.00
None
0.00
REVOLUTION MEDICINES INC
SOLEShares233.14K
TypeSH
Market value$18.57M
1.45%
Sole
233.14K
Shared
0.00
None
0.00
VAXCYTE INC
SOLEShares378.68K
TypeSH
Market value$17.47M
1.36%
Sole
378.68K
Shared
0.00
None
0.00
CRINETICS PHARMACEUTICALS IN
SOLEShares368.50K
TypeSH
Market value$17.15M
1.34%
Sole
368.50K
Shared
0.00
None
0.00
CAPRICOR THERAPEUTICS INC
SOLEShares578.01K
TypeSH
Market value$16.68M
1.30%
Sole
578.01K
Shared
0.00
None
0.00
FULCRUM THERAPEUTICS INC
SOLEShares1.38M
TypeSH
Market value$15.56M
1.21%
Sole
1.38M
Shared
0.00
None
0.00
NEUROCRINE BIOSCIENCES INC
SOLEShares105.06K
TypeSH
Market value$14.90M
1.16%
Sole
105.06K
Shared
0.00
None
0.00
ELI LILLY & CO
SOLEShares13.81K
TypeSH
Market value$14.85M
1.16%
Sole
13.81K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
CIDARA THERAPEUTICS INCSOLE | COM NEW | 573.24K | SH | $126.62M 9.89% | 573.24K | 0.00 | 0.00 |
SPDR SERIES TRUSTSOLE | STATE STREET SPD | 850K | SH | $103.64M 8.09% | 850K | 0.00 | 0.00 |
AMGEN INCSOLE | COM | 245K | SH | $80.19M 6.26% | 245K | 0.00 | 0.00 |
TERNS PHARMACEUTICALS INCSOLE | COM | 1.60M | SH | $64.49M 5.04% | 1.60M | 0.00 | 0.00 |
ABIVAX SASOLE | SPONSORED ADS | 331.08K | SH | $46.00M 3.59% | 331.08K | 0.00 | 0.00 |
HARROW INCSOLE | COM | 693.05K | SH | $33.96M 2.65% | 693.05K | 0.00 | 0.00 |
RAPT THERAPEUTICS INCSOLE | COM NEW | 955.27K | SH | $32.36M 2.53% | 955.27K | 0.00 | 0.00 |
CYTOKINETICS INCSOLE | COM NEW | 463.57K | SH | $29.46M 2.30% | 463.57K | 0.00 | 0.00 |
JAZZ PHARMACEUTICALS PLCSOLE | CALL | 170K | SH | $28.90M 2.26% | 170K | 0.00 | 0.00 |
SOLENO THERAPEUTICS INCSOLE | COM | 597.72K | SH | $27.67M 2.16% | 597.72K | 0.00 | 0.00 |
JAZZ PHARMACEUTICALS PLCSOLE | SHS USD | 160.37K | SH | $27.26M 2.13% | 160.37K | 0.00 | 0.00 |
MAZE THERAPEUTICS INCSOLE | COM | 644.68K | SH | $26.71M 2.09% | 644.68K | 0.00 | 0.00 |
OMEROS CORPSOLE | COM | 1.50M | SH | $25.76M 2.01% | 1.50M | 0.00 | 0.00 |
PRAXIS PRECISION MEDICINES ISOLE | COM NEW | 86.58K | SH | $25.52M 1.99% | 86.58K | 0.00 | 0.00 |
OLEMA PHARMACEUTICALS INCSOLE | COM | 958.65K | SH | $23.97M 1.87% | 958.65K | 0.00 | 0.00 |
IONIS PHARMACEUTICALS INCSOLE | COM | 296.64K | SH | $23.47M 1.83% | 296.64K | 0.00 | 0.00 |
CORCEPT THERAPEUTICS INCSOLE | COM | 586.09K | SH | $20.40M 1.59% | 586.09K | 0.00 | 0.00 |
KODIAK SCIENCES INCSOLE | COM | 719.79K | SH | $20.13M 1.57% | 719.79K | 0.00 | 0.00 |
REVOLUTION MEDICINES INCSOLE | COM | 233.14K | SH | $18.57M 1.45% | 233.14K | 0.00 | 0.00 |
VAXCYTE INCSOLE | COM | 378.68K | SH | $17.47M 1.36% | 378.68K | 0.00 | 0.00 |
CRINETICS PHARMACEUTICALS INSOLE | COM | 368.50K | SH | $17.15M 1.34% | 368.50K | 0.00 | 0.00 |
CAPRICOR THERAPEUTICS INCSOLE | COM NEW | 578.01K | SH | $16.68M 1.30% | 578.01K | 0.00 | 0.00 |
FULCRUM THERAPEUTICS INCSOLE | COM | 1.38M | SH | $15.56M 1.21% | 1.38M | 0.00 | 0.00 |
NEUROCRINE BIOSCIENCES INCSOLE | COM | 105.06K | SH | $14.90M 1.16% | 105.06K | 0.00 | 0.00 |
ELI LILLY & COSOLE | COM | 13.81K | SH | $14.85M 1.16% | 13.81K | 0.00 | 0.00 |
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