Caligan Partners LP 13F: Quarter-over-Quarter Portfolio Changes
Caligan Partners LP reported a disclosed portfolio value of approximately $2.1 billion in its latest SEC Form 13F-HR filing for Q2 2026, up 46.6% quarter on quarter. Over the quarter, the fund initiated 5 new positions, bought more shares in 10 holdings, trimmed 3 holdings, and exited 4 positions.
Caligan Partners LP's top buy was a new stake in Immunocore Hldgs PLC (IMCR) , equal to 2.1% of the disclosed portfolio. Its top sell was Mineralys Therapeutics INC (MLYS) . The fund exited the position completely after it had accounted for 5.3% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| IMMUNOCORE HLDGS PLC | IMCR | 2.1% | Holders → |
| VIRIDIAN THERAPEUTICS INC | VRDN | 1.9% | Holders → |
| SAGIMET BIOSCIENCES INC | SGMT | 0.9% | Holders → |
| ARTIVA BIOTHERAPEUTICS INC | ARTV | 0.8% | Holders → |
| CELLECTAR BIOSCIENCES INC | CLRB | 0.1% | Holders → |
Top BuysQ2 2026
The fund's top buys among existing positions in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| AURA BIOSCIENCES INC | AURA | +1.4% | +1769.9% | Holders → |
| FAETH THERAPEUTICS INC | SNSE | +0.5% | +399.6% | Holders → |
| AVALO THERAPEUTICS INC | AVTX | +1.1% | +93.5% | History → |
| INVENTIVA SA | IVA | +-0.5% | +64.1% | Holders → |
| ADMA BIOLOGICS INC | ADMA | +-0.7% | +20.4% | History → |
| REVOLUTION MEDICINES INC | RVMD | +6.4% | +18.7% | History → |
| ABIVAX SA | ABVX | +-1.5% | +6.6% | History → |
| VAXCYTE INC | PCVX | +-2.3% | +6.2% | History → |
| TANGO THERAPEUTICS INC | TNGX | +0.2% | +3.8% | History → |
| OPUS GENETICS INC | IRD | +-0.8% | +0.0% | Holders → |
Top SellsQ2 2026
The fund's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| MBX BIOSCIENCES INC | MBX | -1.3% | 76.4% | Holders → |
| TYRA BIOSCIENCES INC | TYRA | -2.2% | 36.8% | Holders → |
| XENON PHARMACEUTICALS INC | XENE | -3.1% | 36.1% | History → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| MINERALYS THERAPEUTICS INC | MLYS | 5.3% |
| SPYRE THERAPEUTICS INC | SYRE | 3.1% |
| MAZE THERAPEUTICS INC | MAZE | 1.3% |
| XILIO THERAPEUTICS INC | XLO | 0.1% |
Net Portfolio Value ChangeQ2 2026
- $1.4BPrior quarter
- $2.1BCurrent quarter
- +$0.7BNet delta
- +46.6%% change
Methodology & FAQ
How Caligan Partners LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Caligan Partners LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did Caligan Partners LP buy in Q2 2026?
In Q2 2026, Caligan Partners LP initiated 5 new positions (IMMUNOCORE HLDGS PLC (IMCR), VIRIDIAN THERAPEUTICS INC (VRDN), SAGIMET BIOSCIENCES INC (SGMT), ARTIVA BIOTHERAPEUTICS INC (ARTV), CELLECTAR BIOSCIENCES INC (CLRB)); bought more shares of AURA BIOSCIENCES INC (AURA), FAETH THERAPEUTICS INC (SNSE), AVALO THERAPEUTICS INC (AVTX), INVENTIVA SA (IVA), ADMA BIOLOGICS INC (ADMA) (the largest 5 of 10 adds).
What stocks did Caligan Partners LP sell in Q2 2026?
In Q2 2026, Caligan Partners LP fully sold 4 positions (MINERALYS THERAPEUTICS INC (MLYS), SPYRE THERAPEUTICS INC (SYRE), MAZE THERAPEUTICS INC (MAZE), XILIO THERAPEUTICS INC (XLO)); reduced holdings in MBX BIOSCIENCES INC (MBX), TYRA BIOSCIENCES INC (TYRA), XENON PHARMACEUTICALS INC (XENE).
Which positions did Caligan Partners LP initiate in Q2 2026?
Caligan Partners LP established 5 new positions in Q2 2026: IMMUNOCORE HLDGS PLC (IMCR, 2.1%), VIRIDIAN THERAPEUTICS INC (VRDN, 1.9%), SAGIMET BIOSCIENCES INC (SGMT, 0.9%), ARTIVA BIOTHERAPEUTICS INC (ARTV, 0.8%), CELLECTAR BIOSCIENCES INC (CLRB, 0.1%).
Which existing positions saw the largest allocation increases for Caligan Partners LP in Q2 2026?
Of 10 existing positions with share-count increases in Q2 2026, the largest were: AURA BIOSCIENCES INC (AURA, +1.4% weight, +1769.9% shares), FAETH THERAPEUTICS INC (SNSE, +0.5% weight, +399.6% shares), AVALO THERAPEUTICS INC (AVTX, +1.1% weight, +93.5% shares), INVENTIVA SA (IVA, +-0.5% weight, +64.1% shares), ADMA BIOLOGICS INC (ADMA, +-0.7% weight, +20.4% shares), REVOLUTION MEDICINES INC (RVMD, +6.4% weight, +18.7% shares), ABIVAX SA (ABVX, +-1.5% weight, +6.6% shares), VAXCYTE INC (PCVX, +-2.3% weight, +6.2% shares), TANGO THERAPEUTICS INC (TNGX, +0.2% weight, +3.8% shares), OPUS GENETICS INC (IRD, +-0.8% weight, +0.0% shares).
Which positions did Caligan Partners LP fully exit in Q2 2026?
Caligan Partners LP fully exited 4 positions in Q2 2026: MINERALYS THERAPEUTICS INC (MLYS, last-reported weight 5.3%), SPYRE THERAPEUTICS INC (SYRE, last-reported weight 3.1%), MAZE THERAPEUTICS INC (MAZE, last-reported weight 1.3%), XILIO THERAPEUTICS INC (XLO, last-reported weight 0.1%).
Which existing positions saw the largest allocation reductions for Caligan Partners LP in Q2 2026?
Of 3 existing positions with share-count reductions in Q2 2026, the largest were: MBX BIOSCIENCES INC (MBX, -1.3% weight, -76.4% shares), TYRA BIOSCIENCES INC (TYRA, -2.2% weight, -36.8% shares), XENON PHARMACEUTICALS INC (XENE, -3.1% weight, -36.1% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.