13F Insight
DOSSIER · 13F-HR · Q2 2026

Caligan Partners LP

$2.1B in tracked AUM across 28 positions as of Q2 2026.

CP
CIK 0001727492 · last filed Jun 30, 2026
Total AUM
$2.1B
as of Q2 2026
Holdings
28
—
positions
Whale Score
77
77
strong
Activity
—
no data
changes this Q
AI Analysis · Q2 2026
Comprehensive Analysis of Caligan Partners LP SEC 13F Filing
Portfolio Overview

Caligan Partners LP manages a highly concentrated, high-conviction portfolio totaling approximately $606.23 million as of the report date September 30, 2025. The fund experienced significant growth during the quarter, with total assets under management (AUM) increasing by 16.5%, rising from $520.17 million in the previous quarter. The portfolio consists of only 15 holdings, indicating a strategy that prioritize...

Key Holdings

The portfolio is dominated by a few large positions, with the top three holdings comprising nearly 65% of the total assets.

  • Liquidia Corporation (LQDA) is the largest position, valued at $184.62 million, representing a massive 30.45% portfolio allocation. With 8.12 million shares held, this is clearly the firm's "conviction" bet.
  • ABIVAX SA (ABVX) is the second-largest holding at $123.27 million (20.33%), followed by Agios Pharmaceuticals Inc (AGIO) at $84.54 million (13.95%).
  • The top five positions are rounded out by Exelixis Inc (EXEL) at 10.39% and Revolution Medicines Inc (RVMD) at 8.20%.

The heavy weighting in LQDA and ABVX signals that the fund’s performance is highly correlated with the success of these specific companies. The inclusion of mid-cap and larger-cap names like EXEL alongside smaller developmental biotech companies suggests a blend of stability and high-growth potential within the healthcare universe.

Analysis generated by 13F Insight from SEC Form 13F filing data · Q2 2026. Methodology

Quarter at a glance — Q2 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q2 2026.

#HoldingValueSharesWeight
01
LQDA
LIQUIDIA CORPORATION
$647M8.1M30.5%02
RVMD
REVOLUTION MEDICINES INC
$415M2.2M19.5%03
ABVX
ABIVAX SA
$208M1.6M9.8%04
PCVX
VAXCYTE INC
$127M2.2M6.0%05
EXEL
EXELIXIS INC
$85M1.6M4.0%06
TNGX
TANGO THERAPEUTICS INC
$78M2.5M3.7%07
AVTX
AVALO THERAPEUTICS INC
$58M3.2M2.8%08
XENE
XENON PHARMACEUTICALS INC
$54M890K2.5%09
ADMA
ADMA BIOLOGICS INC
$50M6.0M2.4%10
LBRX
LB PHARMACEUTICALS INC
$47M1.4M2.2%

Filing history

2026Q2Jun 30
$2.1B▲ 41.5%
28 positionsView →2026Q1Mar 31
$1.5B▲ 23.7%
28 positionsView →2025Q4Dec 31
$1.2B▲ 100.4%
24 positionsView →2025Q3Sep 30
$606M▲ 16.5%
15 positionsView →2025Q2Jun 30
$520M▲ 61.6%
17 positionsLocked2025Q1Mar 31
$322M▼ 18.5%
12 positionsLocked2024Q4Dec 31
$395M▲ 25.2%
14 positionsLocked2024Q3Sep 30
$315M▼ 26.3%
12 positionsLocked2024Q2Jun 30
$428M▲ 13.1%
13 positionsLocked2024Q1Mar 31
$378M▲ 27.6%
12 positionsLocked2023Q4Dec 31
$297M▲ 36.2%
11 positionsLocked2023Q3Sep 30
$218M▲ 22.5%
13 positionsLocked
Showing 12 of 15