Filed: 5/15/2026ACC: 0001420506-26-001165
📋 What this filing means
IKARIAN CAPITAL, LLC filed this quarterly 13F‑HR report disclosing 139 equity positions with a total reported market value of $1.23B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
139
Positions
$1.23B
Total AUM (reported)
77.77M
Total Shares
Allocation by class
COM$590.23M47.9%
COM NEW$273.15M22.2%
STATE STREET SPD$102.18M8.3%
UNIT SER 1$57.72M4.7%
SPONSORED ADS$51.64M4.2%
RUSSELL 2000 ETF$49.60M4.0%
CL A$21.48M1.7%
Portfolio Concentration
Top 3$324.12M26.3%
4–10$287.85M23.4%
11–25$277.72M22.5%
Rest$341.99M27.8%
Top 3 weight
26.3%
Top 10 weight
49.7%
Voting Authority Distribution
Total shares with voting rights: 77.77M
Sole
Full voting authority
77.77M
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:
TERNS PHARMACEUTICALS INC
SOLEShares2.66M
TypeSH
Market value$140.04M
11.37%
Sole
2.66M
Shared
0.00
None
0.00
SPDR SERIES TRUST
SOLEShares800K
TypeSH
Market value$102.18M
8.30%
Sole
800K
Shared
0.00
None
0.00
CYTOKINETICS INC
SOLEShares1.24M
TypeSH
Market value$81.89M
6.65%
Sole
1.24M
Shared
0.00
None
0.00
INVESCO QQQ TR
SOLEShares100K
TypeSH
Market value$57.72M
4.69%
Sole
100K
Shared
0.00
None
0.00
KODIAK SCIENCES INC
SOLEShares1.37M
TypeSH
Market value$52.06M
4.23%
Sole
1.37M
Shared
0.00
None
0.00
ISHARES TR
SOLEShares200K
TypeSH
Market value$49.60M
4.03%
Sole
200K
Shared
0.00
None
0.00
ABIVAX SA
SOLEShares350.94K
TypeSH
Market value$38.89M
3.16%
Sole
350.94K
Shared
0.00
None
0.00
ALUMIS INC
SOLEShares1.48M
TypeSH
Market value$32.56M
2.64%
Sole
1.48M
Shared
0.00
None
0.00
BRISTOL-MYERS SQUIBB CO
SOLEShares500K
TypeSH
Market value$30.32M
2.46%
Sole
500K
Shared
0.00
None
0.00
CAPRICOR THERAPEUTICS INC
SOLEShares878.01K
TypeSH
Market value$26.69M
2.17%
Sole
878.01K
Shared
0.00
None
0.00
REVOLUTION MEDICINES INC
SOLEShares258.14K
TypeSH
Market value$25.10M
2.04%
Sole
258.14K
Shared
0.00
None
0.00
VAXCYTE INC
SOLEShares428.68K
TypeSH
Market value$24.91M
2.02%
Sole
428.68K
Shared
0.00
None
0.00
PRAXIS PRECISION MEDICINES I
SOLEShares71.58K
TypeSH
Market value$23.06M
1.87%
Sole
71.58K
Shared
0.00
None
0.00
ANI PHARMACEUTICALS INC
SOLEShares297.08K
TypeSH
Market value$22.85M
1.85%
Sole
297.08K
Shared
0.00
None
0.00
HARROW INC
SOLEShares543.05K
TypeSH
Market value$19.15M
1.55%
Sole
543.05K
Shared
0.00
None
0.00
RELMADA THERAPEUTICS INC
SOLEShares2.69M
TypeSH
Market value$18.71M
1.52%
Sole
2.69M
Shared
0.00
None
0.00
CELLDEX THERAPEUTICS INC NEW
SOLEShares575.25K
TypeSH
Market value$18.25M
1.48%
Sole
575.25K
Shared
0.00
None
0.00
TENAX THERAPEUTICS INC
SOLEShares1.13M
TypeSH
Market value$18.10M
1.47%
Sole
1.13M
Shared
0.00
None
0.00
IONIS PHARMACEUTICALS INC
SOLEShares239.14K
TypeSH
Market value$17.96M
1.46%
Sole
239.14K
Shared
0.00
None
0.00
OLEMA PHARMACEUTICALS INC
SOLEShares1.15M
TypeSH
Market value$17.12M
1.39%
Sole
1.15M
Shared
0.00
None
0.00
BRIDGEBIO PHARMA INC
SOLEShares218.62K
TypeSH
Market value$16.23M
1.32%
Sole
218.62K
Shared
0.00
None
0.00
NOVO-NORDISK A S
SOLEShares400K
TypeSH
Market value$14.70M
1.19%
Sole
400K
Shared
0.00
None
0.00
KARYOPHARM THERAPEUTICS INC
SOLEShares2.57M
TypeSH
Market value$14.33M
1.16%
Sole
2.57M
Shared
0.00
None
0.00
PHARVARIS N V
SOLEShares486.86K
TypeSH
Market value$13.75M
1.12%
Sole
486.86K
Shared
0.00
None
0.00
CONNECT BIOPHARMA HLDGS LTD
SOLEShares5.53M
TypeSH
Market value$13.50M
1.10%
Sole
5.53M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
TERNS PHARMACEUTICALS INCSOLE | COM | 2.66M | SH | $140.04M 11.37% | 2.66M | 0.00 | 0.00 |
SPDR SERIES TRUSTSOLE | STATE STREET SPD | 800K | SH | $102.18M 8.30% | 800K | 0.00 | 0.00 |
CYTOKINETICS INCSOLE | COM NEW | 1.24M | SH | $81.89M 6.65% | 1.24M | 0.00 | 0.00 |
INVESCO QQQ TRSOLE | UNIT SER 1 | 100K | SH | $57.72M 4.69% | 100K | 0.00 | 0.00 |
KODIAK SCIENCES INCSOLE | COM | 1.37M | SH | $52.06M 4.23% | 1.37M | 0.00 | 0.00 |
ISHARES TRSOLE | RUSSELL 2000 ETF | 200K | SH | $49.60M 4.03% | 200K | 0.00 | 0.00 |
ABIVAX SASOLE | SPONSORED ADS | 350.94K | SH | $38.89M 3.16% | 350.94K | 0.00 | 0.00 |
ALUMIS INCSOLE | COM | 1.48M | SH | $32.56M 2.64% | 1.48M | 0.00 | 0.00 |
BRISTOL-MYERS SQUIBB COSOLE | COM | 500K | SH | $30.32M 2.46% | 500K | 0.00 | 0.00 |
CAPRICOR THERAPEUTICS INCSOLE | COM NEW | 878.01K | SH | $26.69M 2.17% | 878.01K | 0.00 | 0.00 |
REVOLUTION MEDICINES INCSOLE | COM | 258.14K | SH | $25.10M 2.04% | 258.14K | 0.00 | 0.00 |
VAXCYTE INCSOLE | COM | 428.68K | SH | $24.91M 2.02% | 428.68K | 0.00 | 0.00 |
PRAXIS PRECISION MEDICINES ISOLE | COM NEW | 71.58K | SH | $23.06M 1.87% | 71.58K | 0.00 | 0.00 |
ANI PHARMACEUTICALS INCSOLE | COM | 297.08K | SH | $22.85M 1.85% | 297.08K | 0.00 | 0.00 |
HARROW INCSOLE | COM | 543.05K | SH | $19.15M 1.55% | 543.05K | 0.00 | 0.00 |
RELMADA THERAPEUTICS INCSOLE | COM | 2.69M | SH | $18.71M 1.52% | 2.69M | 0.00 | 0.00 |
CELLDEX THERAPEUTICS INC NEWSOLE | COM NEW | 575.25K | SH | $18.25M 1.48% | 575.25K | 0.00 | 0.00 |
TENAX THERAPEUTICS INCSOLE | COM NEW | 1.13M | SH | $18.10M 1.47% | 1.13M | 0.00 | 0.00 |
IONIS PHARMACEUTICALS INCSOLE | COM | 239.14K | SH | $17.96M 1.46% | 239.14K | 0.00 | 0.00 |
OLEMA PHARMACEUTICALS INCSOLE | COM | 1.15M | SH | $17.12M 1.39% | 1.15M | 0.00 | 0.00 |
BRIDGEBIO PHARMA INCSOLE | COM | 218.62K | SH | $16.23M 1.32% | 218.62K | 0.00 | 0.00 |
NOVO-NORDISK A SSOLE | ADR | 400K | SH | $14.70M 1.19% | 400K | 0.00 | 0.00 |
KARYOPHARM THERAPEUTICS INCSOLE | COM NEW | 2.57M | SH | $14.33M 1.16% | 2.57M | 0.00 | 0.00 |
PHARVARIS N VSOLE | COM | 486.86K | SH | $13.75M 1.12% | 486.86K | 0.00 | 0.00 |
CONNECT BIOPHARMA HLDGS LTDSOLE | SHS | 5.53M | SH | $13.50M 1.10% | 5.53M | 0.00 | 0.00 |
Page 1 of 6
…