Caligan Partners Beat the S&P 500 by 51 Points a Year: Its Q2 2026 13F Holdings
Caligan Partners's Caligan Partners LP Q2 2026 13F: top holdings, new buys, sales and returns vs the S&P 500, from the SEC filing of Aug 14.
Caligan Partners LP filed its Q2 2026 13F with the SEC on August 14, 2026, listing 25 positions worth $2.1B. Here is what changed from Q1 2026, the largest holdings, and how a portfolio copying them has done. The full holdings are on Caligan Partners' portfolio page.
Caligan Partners' top 10 holdings
| # | Stock | % of portfolio | Value | vs Q1 2026 |
|---|---|---|---|---|
| 1 | LQDA Liquidia Corporation | 31.2% | $647.3M | +0.0% shares |
| 2 | RVMD Revolution Medicines Inc | 17.7% | $367.4M | +18.7% shares |
| 3 | ABVX Abivax SA | 10.0% | $207.6M | +6.6% shares |
| 4 | PCVX Vaxcyte Inc | 6.1% | $127.2M | +6.2% shares |
| 5 | EXEL Exelixis Inc | 4.1% | $84.5M | +0.0% shares |
| 6 | TNGX Tango Therapeutics Inc | 3.8% | $78.2M | +3.8% shares |
| 7 | AVTX Avalo Therapeutics Inc | 2.8% | $58.5M | +93.5% shares |
| 8 | XENE Xenon Pharmaceuticals Inc | 2.6% | $53.7M | -36.1% shares |
| 9 | ADMA ADMA Biologics, Inc. | 2.3% | $47.9M | +20.4% shares |
| 10 | LBRX LB Pharmaceuticals, Inc. | 2.3% | $46.7M | +0.0% shares |
New positions in Q2 2026
- IMCR Immunocore Hldgs PLC: 2.1% of the portfolio, $43.9M
- VRDN Viridian Therapeutics Inc: 1.9% of the portfolio, $40.3M
- SGMT Sagimet Biosciences Inc: 0.9% of the portfolio, $19.3M
- ARTV Artiva Biotherapeutics Inc: 0.8% of the portfolio, $16.8M
- CLRB Cellectar Biosciences Inc: 0.1% of the portfolio, $1.3M
Biggest additions
- RVMD Revolution Medicines Inc: +18.7% shares, now 17.7%
- ABVX Abivax SA: +6.6% shares, now 10.0%
- PCVX Vaxcyte Inc: +6.2% shares, now 6.1%
- AVTX Avalo Therapeutics Inc: +93.5% shares, now 2.8%
- ADMA ADMA Biologics, Inc.: +20.4% shares, now 2.3%
- IVA Inventiva SACA: +64.1% shares, now 1.5%
- AURA Aura Biosciences Inc: +1769.9% shares, now 1.5%
- SNSE Faeth Therapeutics Inc: +399.6% shares, now 0.8%
What they sold
- MLYS Mineralys Therapeutics Inc: sold out (was 5.3%)
- SYRE Spyre Therapeutics: sold out (was 3.1%)
- MAZE Maze Therapeutics Inc: sold out (was 1.3%)
- XLO Xilio Therapeutics Inc: sold out (was 0.1%)
- XENE Xenon Pharmaceuticals Inc: -36.1% shares
- TYRA Tyra Biosciences Inc: -36.8% shares
- MBX Mbx Biosciences Inc: -76.4% shares
Has Caligan Partners beaten the market?
A portfolio holding Caligan Partners' 20 largest 13F positions, bought once each filing was public and rebuilt every quarter, returned +95.8% a year over 1 year (S&P 500 +20.1%) and +82.3% a year over 3 years (S&P 500 +20.4%). 13Fs show only long US stock positions with up to a 45-day delay, so this measures the stock picks a cloner could have copied, not the fund's own returns.
Questions and answers
What stocks does Caligan Partners own?
As of the Q2 2026 13F, Caligan Partners' largest holdings are Liquidia Corporation (LQDA) at 31.2%, Revolution Medicines Inc (RVMD) at 17.7%, Abivax SA (ABVX) at 10.0%, Vaxcyte Inc (PCVX) at 6.1% and Exelixis Inc (EXEL) at 4.1%.
What did Caligan Partners buy in Q2 2026?
New positions in Immunocore Hldgs PLC (IMCR), Viridian Therapeutics Inc (VRDN), Sagimet Biosciences Inc (SGMT), Artiva Biotherapeutics Inc (ARTV) and Cellectar Biosciences Inc (CLRB), and added to Revolution Medicines Inc (RVMD), Abivax SA (ABVX) and Vaxcyte Inc (PCVX).
When is Caligan Partners' next 13F filing?
13F filings are due 45 days after each quarter ends; Caligan Partners LP's next one is due by November 14, 2026.
Sources: SEC Form 13F-HR filed 2026-08-14. Written from the data on this site on Oct 30, 2026; every figure links to the page it comes from. Not investment advice.