Ikarian Capital
Ikarian Capital reported 126 stocks worth $611M in its 13F filing for Q2 2026, filed Aug 14, 2026. Its largest holdings are ABVX (7.1%), KOD (6.8%) and ALMS (4.0%). Compared with Q1 2026, the fund opened new positions in RCUS, COGT and CCCC, added to ABVX, PRAX and ANIP, trimmed KOD, ALMS and PCVX and sold out of CYTK, RVMD and ORKA.
Holdings
| # | Stock | Value | Weight | Shares | Change | Shares, 8 qtrs | Held |
|---|---|---|---|---|---|---|---|
| 1 |  ABVX Abivax SA | $43.4M | 7.1% | 329K | +271K (+470%) | 4 of 8 | |
| 2 |  KOD Kodiak Sciences Inc | $41.3M | 6.8% | 1.1M | −206K (−16%) | 8 of 8 | |
| 3 |  ALMS Alumis Inc | $24.5M | 4.0% | 871K | −343K (−28%) | 2 of 8 | |
| 4 |  PRAX Praxis Precision Medicines I | $24.4M | 4.0% | 73K | +1,261 (+2%) | 6 of 8 | |
| 5 |  PCVX Vaxcyte Inc | $22.6M | 3.7% | 389K | −40K (−9%) | 6 of 8 | |
| 6 |  ANIP Ani Pharmaceuticals Inc | $22.5M | 3.7% | 272K | +125K (+85%) | 2 of 8 | |
| 7 |  CLDX Celldex Therapeutics Inc | $17.8M | 2.9% | 479K | +17K (+4%) | 2 of 8 | |
| 8 |  RCUS Arcus Biosciences Inc | $15.6M | 2.5% | 505K | New position | 5 of 8 | |
| 9 |  RLMD Relmada Therapeutics Inc | $14.9M | 2.4% | 2.1M | −540K (−20%) | 8 of 8 | |
| 10 |  CAPR Capricor Therapeutics Inc | $14.5M | 2.4% | 604K | +76K (+14%) | 5 of 8 |
Positions at Jun 30, 2026, as reported. Change is against the fund's Q1 2026 filing; weight is the share of the fund's reported stocks.
Sold out
held in Q1 2026, gone in Q2 2026| Stock | Value last quarter | Shares sold |
|---|---|---|
TERNS PHARMACEUTICALS INC | $76.8M | 1.5M |
 CYTK Cytokinetics Inc | $18.7M | 284K |
 RVMD Revolution Medicines Inc | $15.9M | 163K |
 ORKA Oruka Therapeutics Inc | $11.9M | 242K |
SOLENO THERAPEUTICS INC | $11.5M | 344K |
🔒 Free account: see all 28.
Options
valued at the underlying shares| Stock | Type | Value | Shares | Change |
|---|---|---|---|---|
 XBI Spdr Series Trust | Put | $47.5M | 300K | −500,000 |
ABVX Abivax SA | Call | $45.5M | 341K | +47,800 |
ABVX Abivax SA | Put | $33.3M | 250K | +250,000 |
 IONS Ionis Pharmaceuticals Inc | Call | $31.7M | 400K | +287,900 |
 MRNA Moderna Inc | Put | $28M | 400K | +400,000 |
🔒 Free account: see all 20.
Reported value
last 8 quartersThe value of the US stocks the fund reported, at quarter end prices. It moves with the market as well as with buying and selling.
Filings for Q2 2026
straight from the SEC| Filed | Form | Quarter | |
|---|---|---|---|
| Aug 14, 2026 | 13F-HR | Q2 2026 | SEC filing ↗ |
Other superinvestors
All hedge fund holdings →Ikarian Capital 13F FAQ
What does Ikarian Capital own?
Ikarian Capital reported 126 stocks worth $611M in its 13F filing for Q2 2026, filed Aug 14, 2026. Its largest holdings are ABVX (7.1%), KOD (6.8%) and ALMS (4.0%). The table above lists every position in the filing (the top 10 without an account).
What did Ikarian Capital buy and sell in Q2 2026?
Compared with Q1 2026: 27 new positions, 18 added to, 29 trimmed and 28 sold out. New positions include RCUS, COGT and CCCC. It sold all of CYTK, RVMD and ORKA.
When will Ikarian Capital file its next 13F?
Holdings as of Sep 30, 2026 are due by Nov 16, 2026. The filing appears on this page within minutes of reaching the SEC.
How much is Ikarian Capital's portfolio worth?
The Q2 2026 filing reports $611M in US stocks ($928M including options). That leaves out cash, bonds, short positions and most foreign holdings, so the fund's total assets are usually larger.
For informational and educational purposes only. Not investment advice, and not a recommendation to buy or sell any security. Holdings come from the fund's SEC Form 13F filings as reported and show positions at the end of the quarter, up to 45 days before the filing. The fund may have changed its positions since. A 13F leaves out short positions, cash, bonds and most foreign holdings. See all hedge fund holdings.