Kalehua Capital Management LLC reported 22 positions worth $133.94M for the quarter ended Jun 30, 2026, up 27.8% on the prior quarter. It opened 6 new positions, added to 4, trimmed 2 and exited 6. Its largest holding is Veradermics, Inc at 13.4% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| KPTI Karyopharm Therapeutics Inc. | +685.6K | – | $6.70M | 5% |
| IFRX InflaRx N.V. | +2.90M | – | $6.49M | 4.85% |
| MANE Veradermics, Inc | +42.8K | +41.6% | $5.26M | 13.37% |
| ACRS Aclaris Therapeutics, Inc. | +494.8K | +37.0% | $2.62M | 7.24% |
| IKT Inhibikase Therapeutics, Inc. | +1.15M | +43.0% | $2.33M | 5.79% |
| NVCT Nuvectis Pharma, Inc. | +100.0K | – | $1.84M | 1.37% |
| MIST Milestone Pharmaceuticals Inc. | +1.27M | – | $1.70M | 1.27% |
| ATYR aTYR PHARMA INC | +44.7K | – | $1.07M | 0.797% |
| GOSS Gossamer Bio, Inc. | +46.0K | +49.2% | $605.32K | 1.37% |
| TCRX TScan Therapeutics, Inc. | +454.9K | – | $445.82K | 0.333% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| RLAY Relay Therapeutics, Inc. | -901.5K | -100.0% | $8.97M | Exited |
| QURE uniQure N.V. | -132.3K | -62.5% | $6.09M | 2.73% |
| ORKA Oruka Therapeutics, Inc. | -118.5K | -100.0% | $5.81M | Exited |
| TNYA Tenaya Therapeutics, Inc. | -2.00M | -100.0% | $1.38M | Exited |
| PEPG PepGen Inc. | -730.0K | -100.0% | $1.29M | Exited |
| KLRS Kalaris Therapeutics, Inc. | -135.6K | -100.0% | $782.33K | Exited |
| DMAC DiaMedica Therapeutics Inc. | -62.5K | -100.0% | $423.04K | Exited |
| TIL Instil Bio, Inc. | -40.2K | -28.8% | $309.51K | 0.572% |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| KPTI Karyopharm Therapeutics Inc. | +685.6K | $6.70M | 5% |
| IFRX InflaRx N.V. | +2.90M | $6.49M | 4.85% |
| NVCT Nuvectis Pharma, Inc. | +100.0K | $1.84M | 1.37% |
| MIST Milestone Pharmaceuticals Inc. | +1.27M | $1.70M | 1.27% |
| ATYR aTYR PHARMA INC | +44.7K | $1.07M | 0.797% |
| TCRX TScan Therapeutics, Inc. | +454.9K | $445.82K | 0.333% |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| RLAY Relay Therapeutics, Inc. | -901.5K | $8.97M | 8.56% |
| ORKA Oruka Therapeutics, Inc. | -118.5K | $5.81M | 5.55% |
| TNYA Tenaya Therapeutics, Inc. | -2.00M | $1.38M | 1.32% |
| PEPG PepGen Inc. | -730.0K | $1.29M | 1.23% |
| KLRS Kalaris Therapeutics, Inc. | -135.6K | $782.33K | 0.746% |
| DMAC DiaMedica Therapeutics Inc. | -62.5K | $423.04K | 0.404% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | MANE Veradermics, Inc | Healthcare | 145.7K | $17.91M | 13.37% | +42.8K | +41.6% | Added | 0.35% |
| 2 | XFOR X4 Pharmaceuticals, Inc | Healthcare | 3.72M | $17.39M | 12.98% | 0 | 0.0% | Unchanged | 2.95% |
| 3 | CMPS COMPASS Pathways plc | Healthcare | 819.7K | $11.60M | 8.66% | 0 | 0.0% | Unchanged | 0.6% |
| 4 | SRZN Surrozen, Inc. | Healthcare | 385.2K | $10.00M | 7.46% | 0 | 0.0% | Unchanged | 3.3% |
| 5 | ACRS Aclaris Therapeutics, Inc. | Healthcare | 1.83M | $9.69M | 7.24% | +494.8K | +37.0% | Added | 1.28% |
| 6 | SION Sionna Therapeutics, Inc. | Healthcare | 197.1K | $8.67M | 6.47% | 0 | 0.0% | Unchanged | 0.44% |
| 7 | IKT Inhibikase Therapeutics, Inc. | Healthcare | 3.82M | $7.76M | 5.79% | +1.15M | +43.0% | Added | 2.19% |
| 8 | PHVS Pharvaris N.V. | Healthcare | 198.8K | $6.87M | 5.13% | 0 | 0.0% | Unchanged | 0.34% |
| 9 | KPTI Karyopharm Therapeutics Inc. | Healthcare | 685.6K | $6.70M | 5% | +685.6K | – | New | 2.37% |
| 10 | SEPN Septerna, Inc. | Healthcare | 194.5K | $6.52M | 4.86% | 0 | 0.0% | Unchanged | 0.43% |
| 11 | IFRX InflaRx N.V. | Healthcare | 2.90M | $6.49M | 4.85% | +2.90M | – | New | 4.31% |
| 12 | QURE uniQure N.V. | Healthcare | 79.4K | $3.66M | 2.73% | -132.3K | -62.5% | Reduced | 0.11% |
| 13 | LONA LeonaBio, Inc. | Healthcare | 393.7K | $3.62M | 2.7% | 0 | 0.0% | Unchanged | 1.66% |
| 14 | DMRA Damora Therapeutics, Inc. | Healthcare | 139.0K | $3.62M | 2.7% | 0 | 0.0% | Unchanged | 0.23% |
| 15 | MLTX MoonLake Immunotherapeutics | Healthcare | 175.7K | $3.42M | 2.55% | 0 | 0.0% | Unchanged | 0.24% |
Tip. Select a row to see that position’s full history at Kalehua Capital Management.
As of its Q2 2026 13F filing, Kalehua Capital Management LLC’s five largest positions were Veradermics, Inc (MANE) at 13.4%, X4 Pharmaceuticals, Inc (XFOR) at 13.0%, COMPASS Pathways plc (CMPS) at 8.7%, Surrozen, Inc. (SRZN) at 7.5%, Aclaris Therapeutics, Inc. (ACRS) at 7.2% of the reported portfolio.
Kalehua Capital Management LLC reported a 13F portfolio worth $133.94M across 22 positions for Q2 2026. That is up 27.8% from the previous quarter.
Its largest purchases by value were Karyopharm Therapeutics Inc. ($6.70M), InflaRx N.V. ($6.49M), Veradermics, Inc ($5.26M). It opened 6 new positions.
Its largest sales by value were Relay Therapeutics, Inc. ($8.97M), uniQure N.V. ($6.09M), Oruka Therapeutics, Inc. ($5.81M). It exited 6 positions entirely.
From the Form 13F-HR reports Kalehua Capital Management LLC files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.