SEC 13F Intelligence

Managers / Q1 2024 · view latest →

Ikarian Capital, LLC

CIK 0001778253 · 100 CRESCENT COURT, SUITE 1620, DALLAS, TX, 75201 · 214-364-2883

Reported Value
$912M
Q1 2024
Positions
137
Filings on Record
29
2019–present window
Filed
May 17, 2024
amendment (RESTATEMENT)

Summary

Ikarian Capital, LLC reported $912M in U.S.-listed holdings across 137 positions for Q1 2024.

Its largest position, CRNX, represents 3.3% of the portfolio.

Compared with Q4 2023, the fund opened 26 new positions and exited 27.

Portfolio Metrics

Turnover
+38.1%
vs prior filed quarter
Top-10 Concentration
+19.1%
share of reported value
Largest Position
+3.3%
Crinetics Pharmaceuticals In
New / Exited
26 / 27
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’19: $617MQ4 ’19Q1 ’20: $1.3BQ2 ’20: $1.3BQ3 ’20: $1.4BQ4 ’20: $2.3BQ4 ’20Q1 ’21: $3.0BQ2 ’21: $1.2BQ3 ’21: $1.4BQ4 ’21: $671MQ4 ’21Q1 ’22: $760MQ2 ’22: $548MQ3 ’22: $502MQ4 ’22: $415MQ4 ’22Q1 ’23: $441MQ2 ’23: $628MQ3 ’23: $831MQ4 ’23: $1.1BQ4 ’23Q1 ’24: $912MQ2 ’24: $574MQ3 ’24: $717MQ4 ’24: $735MQ4 ’24Q1 ’25: $811MQ2 ’25: $521MQ3 ’25: $990MQ4 ’25: $1.3BQ4 ’25Q1 ’26: $1.2Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 82.0%ETP: 7.3%Other: 6.0%ADR: 3.7%REIT: 1.0%
  • Common Stock · 82.0% · $747M
  • ETP · 7.3% · $66M
  • Other · 6.0% · $55M
  • ADR · 3.7% · $34M
  • REIT · 1.0% · $9M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AZNNASTRAZENECA PLCNEW+309.2K309.2K+$21M$21M
FDMT4D MOLECULAR THERAPEUTICS INNEW+515.2K515.2K+$16M$16M
VKTXVIKING THERAPEUTICS INCNEW+200.0K200.0K+$16M$16M
MDGLMADRIGAL PHARMACEUTICALS INCNEW+51.4K51.4K+$14M$14M
MGNXMACROGENICS INCNEW+841.7K841.7K+$12M$12M
BIOHAVEN LTDNEW+223.7K223.7K+$12M$12M
SRRKSCHOLAR ROCK HLDG CORPNEW+654.0K654.0K+$12M$12M
AEROVATE THERAPEUTICS INCNEW+368.0K368.0K+$11M$11M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2024

22 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CRNXCRINETICS PHARMACEUTICALS INhistory →COM3.30%$30M643.8K
2TARSTARSUS PHARMACEUTICALS INChistory →COM2.83%$26M710.3K
3SLNOEURSOLENO THERAPEUTICS INChistory →COM2.65%$24M565.4K
4CRBPCORBUS PHARMACEUTICALS HLDGShistory →COM NEW2.41%$22M559.3K
5SRPTSAREPTA THERAPEUTICS INChistory →COM2.16%$20M152.3K
6AEROVATE THERAPEUTICS INCCOM1.19%$11M368.0K
7ACELYRIN INCCOM1.16%$11M1.56M
8NVLSEURALPINE IMMUNE SCIENCES INChistory →COM1.14%$10M261.4K
9PRAXPRAXIS PRECISION MEDICINES Ihistory →COM NEW1.13%$10M168.4K
10CYTKCYTOKINETICS INChistory →COM NEW1.12%$10M145.1K
11ANNXANNEXON INChistory →COM1.10%$10M1.41M
12IMVTIMMUNOVANT INCCOM0.98%$9M276.9K
13BBIOBRIDGEBIO PHARMA INCCOM0.96%$9M282.0K
14CN2CATALYST PHARMACEUTICALS INCCOM0.91%$8M518.4K
15RCKTROCKET PHARMACEUTICALS INCCOM0.88%$8M297.1K
16ALNYALNYLAM PHARMACEUTICALS INCCOM0.84%$8M51.5K
17NUVLNUVALENT INCCOM0.84%$8M101.6K
18PYXSPYXIS ONCOLOGY INCCOMMON STOCK0.78%$7M1.66M
19LYRA THERAPEUTICS INCCOM0.72%$7M1.06M
20ABEOABEONA THERAPEUTICS INCCOM NEW0.71%$6M888.6K
21VRNAVERONA PHARMA PLCSPONSORED ADS0.66%$6M375.3K
22ARQTARCUTIS BIOTHERAPEUTICS INCCOM0.64%$6M589.6K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.2B161May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.3B174Feb 18, 202613F-HRchanges · EDGAR ↗
Q3 2025$990M169Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$521M133Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$811M160May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$735M171Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$717M145Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$574M130Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$912M137May 17, 2024RESTATEMENTchanges · EDGAR ↗
Q4 2023$1.1B136Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$831M140Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$628M122Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$441M117May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$415M86Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$502M104Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$548M139Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$760M196May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$671M186Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.4B209Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.2B211Aug 18, 2021RESTATEMENTchanges · EDGAR ↗
Q1 2021$3.0B291May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$2.3B230Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.4B174Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.3B164Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.3B151May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$617M114Jan 31, 202013F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.