Caligan Partners LP
NEW YORK, NY
$2.1bn in 25 US stocks at the end of 30 June 2026. The top 10 are 82.9% of the money. It changed about 24.9% of the portfolio this quarter.
Value
$2.1bn
Stocks
25
Top 10 share
82.9%
Turnover
24.9%
What changed this quarter
New
Bought for the first time this quarter.
- Immunocore HldgsIMCR2.1% of the fund
- Viridian TherapeuticsVRDN1.9% of the fund
- Sagimet BiosciencesSGMT0.9% of the fund
- Artiva BiotherapeuticsARTV0.8% of the fund
- Cellectar BiosciencesCLRB<0.1% of the fund
Added
Bought more of a stock they already held.
- Revolution MedicinesRVMD17.7% of the fund+19%
- Abivax SAABVX10.0% of the fund+7%
- VaxcytePCVX6.1% of the fund+6%
- Tango TherapeuticsTNGX3.8% of the fund+4%
- Avalo TherapeuticsAVTX2.8% of the fund+94%
- Adma BiologicsADMA2.3% of the fund+20%
- InventivaIVA1.5% of the fund+64%
- Aura BiosciencesAURA1.5% of the fund+1770%
- Faeth TherapeuticsFTH0.8% of the fund+400%
Cut
Sold some of their stake.
- Xenon PharmaceuticalsXENE2.6% of the fund-36%
- Tyra BiosciencesTYRA1.2% of the fund-37%
- MBX BiosciencesMBX0.5% of the fund-76%
Sold out
Sold their entire stake.
Holdings
- Abivax SAABVX
- Share
- 10.0%
- Value
- $208m
- Shares
- 1,557,924
+7%
- Immunocore HldgsIMCR
- Share
- 2.1%
- Value
- $44m
- Shares
- 1,381,317
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| LiquidiaLQDA | 31.2% | $647m | 8,118,892 | Held |
| Revolution MedicinesRVMD | 17.7% | $367m | 1,961,795 | +19% |
| Abivax SAABVX | 10.0% | $208m | 1,557,924 | +7% |
| VaxcytePCVX | 6.1% | $127m | 2,188,636 | +6% |
| ExelixisEXEL | 4.1% | $85m | 1,553,262 | Held |
| Tango TherapeuticsTNGX | 3.8% | $78m | 2,500,103 | +4% |
| Avalo TherapeuticsAVTX | 2.8% | $58m | 3,163,866 | +94% |
| Xenon PharmaceuticalsXENE | 2.6% | $54m | 889,944 | -36% |
| Adma BiologicsADMA | 2.3% | $48m | 5,725,007 | +20% |
| LB PharmaceuticalsLBRX | 2.3% | $47m | 1,438,070 | Held |
| Immunocore HldgsIMCR | 2.1% | $44m | 1,381,317 | New |
| Viridian TherapeuticsVRDN | 1.9% | $40m | 2,193,981 | New |
| Vor BiopharmaVOR | 1.7% | $35m | 1,925,066 | Held |
| SAB BiotherapeuticsSABS | 1.5% | $31m | 7,967,207 | Held |
| InventivaIVA | 1.5% | $31m | 8,163,191 | +64% |
| Aura BiosciencesAURA | 1.5% | $31m | 4,298,248 | +1770% |
| Tyra BiosciencesTYRA | 1.2% | $26m | 806,986 | -37% |
| Opus GeneticsIRD | 1.2% | $25m | 6,077,084 | Held |
| Anika TherapeuticsANIK | 1.0% | $21m | 1,435,130 | Held |
| Sagimet BiosciencesSGMT | 0.9% | $19m | 2,500,000 | New |
| Artiva BiotherapeuticsARTV | 0.8% | $17m | 1,736,111 | New |
| Faeth TherapeuticsFTH | 0.8% | $16m | 629,467 | +400% |
| MBX BiosciencesMBX | 0.5% | $11m | 200,000 | -76% |
| Verrica PharmaceuticalsVRCA | 0.3% | $6m | 923,910 | Held |
| Cellectar BiosciencesCLRB | <0.1% | $1m | 469,998 | New |
Options (3)
- Revolution MedicinesRVMD
- Type
- Call
- Value
- $47m
- Contracts
- 251,800
- Agios PharmaceuticalsAGIO
- Type
- Call
- Value
- $3m
- Contracts
- 90,000
- Adma BiologicsADMA
- Type
- Call
- Value
- $3m
- Contracts
- 300,000
| Company | Type | Value | Contracts |
|---|---|---|---|
| Revolution MedicinesRVMD | Call | $47m | 251,800 |
| Agios PharmaceuticalsAGIO | Call | $3m | 90,000 |
| Adma BiologicsADMA | Call | $3m | 300,000 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 302.4% since 30 June 2025.
Where the money is
Health care87.9%
Other12.1%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.