Caligan Partners LP

Registered adviser

CIK

1727492

Location

NEW YORK, NY

Portfolio Value

Mid $2,125,706,936

Diversification

Moderately concentrated

Filing Date

Global Rank

#1,536 / 8,818 ▲ 216

Top Industry

Biotechnology 68.6%

Period ended 4 months ago

Filed Aug 14, 2026 · 3mo

15 quarters · since Dec 2022

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 289887

Roster of Oct 1, 2026

Regulatory AUM

$1,299,735,339

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

3 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$987,646,114 gross assets

LEI

549300FWK7CGQ83RTY05

Private funds on Schedule D 7.B.(1)

As filed Sep 3, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$242,886,000 gross assets in 5 funds Hedge funds $242,886,000 (5)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Jun 2026 to Oct 2026	$1,299,735,339	Pooled investment vehicles (100%)
Apr 2026 to May 2026	$1,089,668,429	Pooled investment vehicles (100%)
Apr 2025 to Mar 2026	$419,038,698	Pooled investment vehicles (100%)
Apr 2024 to Mar 2025	$347,914,853	Pooled investment vehicles (94%)
May 2023 to Mar 2024	$139,778,522	Pooled investment vehicles (95%)
Apr 2023	$139,778,522	Pooled investment vehicles (95%)

4 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 82.9% of the book (60%+)

Turnover

Low turnover

27.2% over the last four quarters (under 30%)

Horizon

Medium horizon

Value-weighted holding period 8.2 quarters (4 to under 12)

Closest benchmark: the Russell 2000 as of 2026-06-30, active share 99.0%; sector active share 90.9% against the combined 13F book's sector weights.

Over time 15 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

26 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

30.5%

+10.1 pts

Top 5

69.7%

+13.0 pts

Top 10

83.2%

+6.4 pts

HHI

1,516

Moderately concentrated+611

Portfolio Trend

15 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$2,125,706,936	26

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

10 positions

Ticker	Company	Δ Shares	Shares	Value
AURA	Aura Biosciences, Inc.	+4,068,384	4,298,248	$30,517,560
IVA	Inventiva S.A.	+3,188,285	8,163,191	$30,856,861
AVTX	Avalo Therapeutics, Inc.	+1,528,843	3,163,866	$58,468,243
ADMA	Adma Biologics, Inc.	+968,496	5,725,007	$47,918,308
FTH	Faeth Therapeutics, Inc.	+503,465	629,467	$15,736,675
RVMD	Revolution Medicines, Inc.	+308,987	1,961,795	$367,404,967
PCVX	Vaxcyte, Inc.	+127,917	2,188,636	$127,225,410
ABVX	Abivax S.A.	+96,000	1,557,924	$207,608,952
TNGX	Tango Therapeutics, Inc.	+91,305	2,500,103	$78,153,219
IRD	Opus Genetics, Inc.	+2,056	6,077,084	$24,976,815
No positions match the current search.

Trimmed

Positions the filer reduced

3 positions

Ticker	Company	Δ Shares	Shares	Value
MBX	MBX Biosciences, Inc.	−648,590	200,000	$11,040,000
XENE	Xenon Pharmaceuticals Inc.	−503,083	889,944	$53,717,019
TYRA	Tyra Biosciences, Inc.	−469,982	806,986	$25,775,132
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
IMCR	Immunocore Holdings plc	1,381,317	$43,856,814
VRDN	Viridian Therapeutics, Inc.\DE	2,193,981	$40,303,430
SGMT	Sagimet Biosciences Inc.	2,500,000	$19,325,000
ARTV	Artiva Biotherapeutics, Inc.	1,736,111	$16,840,276
CLRB	Cellectar Biosciences, Inc.	469,998	$1,306,594
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
MLYS	Mineralys Therapeutics, Inc.	2,772,654	$75,111,196
SYRE	Spyre Therapeutics, Inc.	878,127	$44,292,725
MAZE	Maze Therapeutics, Inc.	614,962	$18,356,615
XLO	Xilio Therapeutics, Inc.	112,128	$942,996
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

26 tracked positions · $2,125,706,936 total · filing declares 28 positions · $2,125,706,950 · as of Jun 30, 2026

All sectors Healthcare

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
LQDA	Liquidia Corp Healthcare	Held	8,118,892	0	$647,319,259	+111.3%	15	before history	30.45%
RVMD	Revolution Medicines, Inc. CALL + SHARES Healthcare	Added	2,213,595	+331,887	$414,562,071	+126.5%	6	$70.85	19.50%
ABVX	Abivax S.A. Healthcare	Added	1,557,924	+96,000	$207,608,952	+27.5%	7	$15.01	9.77%
PCVX	Vaxcyte, Inc. Healthcare	Added	2,188,636	+127,917	$127,225,410	+6.2%	3	$46.84	5.99%
EXEL	Exelixis, Inc. Healthcare	Held	1,553,262	0	$84,512,985	+26.9%	14	$19.81	3.98%
TNGX	Tango Therapeutics, Inc. Healthcare	Added	2,500,103	+91,305	$78,153,219	+55.1%	3	$9.20	3.68%
AVTX	Avalo Therapeutics, Inc. Healthcare	Added	3,163,866	+1,528,843	$58,468,243	+139.5%	4	$13.88	2.75%
XENE	Xenon Pharmaceuticals Inc. Healthcare	Reduced	889,944	-503,083	$53,717,019	−33.7%	4	$42.30	2.53%
ADMA	Adma Biologics, Inc. CALL + SHARES Healthcare	Added	6,025,007	+968,496	$50,429,308	+10.7%	4	$15.35	2.37%
LBRX	Lb Pharmaceuticals Inc Healthcare	Held	1,438,070	0	$46,672,561	+31.6%	2	$23.07	2.20%
IMCR	Immunocore Holdings plc Healthcare	NEW	1,381,317	NEW	$43,856,814	NEW	1	$29.58	2.06%
VRDN	Viridian Therapeutics, Inc.\DE Healthcare	NEW	2,193,981	NEW	$40,303,430	NEW	1	$16.11	1.90%
VOR	Vor Biopharma Inc. Healthcare	Held	1,925,066	0	$35,440,465	+3.2%	3	$16.27	1.67%
SABS	SAB Biotherapeutics, Inc. Healthcare	Held	7,967,207	0	$31,072,107	+1.8%	2	$3.99	1.46%
IVA	Inventiva S.A. Healthcare	Added	8,163,191	+3,188,285	$30,856,861	+11.8%	3	$5.24	1.45%
AURA	Aura Biosciences, Inc. Healthcare	Added	4,298,248	+4,068,384	$30,517,560	+1884.5%	2	$7.08	1.44%
TYRA	Tyra Biosciences, Inc. Healthcare	Reduced	806,986	-469,982	$25,775,132	−47.3%	6	$18.00	1.21%
IRD	Opus Genetics, Inc. Healthcare	Added	6,077,084	+2,056	$24,976,815	−9.6%	2	$3.46	1.17%
ANIK	Anika Therapeutics, Inc. Healthcare	Held	1,435,130	0	$20,995,951	+0.9%	15	before history	0.99%
SGMT	Sagimet Biosciences Inc. Healthcare	NEW	2,500,000	NEW	$19,325,000	NEW	1	$6.80	0.91%
ARTV	Artiva Biotherapeutics, Inc. Healthcare	NEW	1,736,111	NEW	$16,840,276	NEW	1	$9.11	0.79%
FTH	Faeth Therapeutics, Inc. Healthcare	Added	629,467	+503,465	$15,736,675	+296.2%	2	$22.50	0.74%
MBX	MBX Biosciences, Inc. Healthcare	Reduced	200,000	-648,590	$11,040,000	−56.4%	2	$34.01	0.52%
VRCA	Verrica Pharmaceuticals Inc. Healthcare	Held	923,910	0	$5,654,329	+15.7%	7	$10.08	0.27%
AGIO	Agios Pharmaceuticals, Inc. CALL Healthcare	Held	90,000	0	$3,339,900	+9.7%	—	—	0.16%
CLRB	Cellectar Biosciences, Inc. Healthcare	NEW	469,998	NEW	$1,306,594	NEW	1	$2.80	0.06%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.