Kalehua Capital Management LLC
Kalehua Capital Management LLC reported 26 US-listed holdings worth $313.5 million in its 13F for the quarter ended 30 June 2026, filed 19 August 2026. Its largest: Veradermics Inc (11.4%), X4 Pharmaceuticals Inc. (11.1%) and Ea Series Trust (8.4%). Against the quarter before, it opened 8 positions, added to 5, trimmed 3 and sold out of 7.
The 14 largest of its 26 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +43.8% over the 2 quarters to 30 June 2026, against +9.5% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 8
- Karyopharm Therapeutics Inc. KPTI$13.4 million
- Inflarx NV IFRX$13.0 million
- Cyclerion Therapeutics Inc. CYCN$11.2 million
- Nuvectis Pharma Inc. NVCT$3.7 million
- Milestone Pharmaceuticals Inc. (mist) MIST$3.4 million
- Adlai Nortye Ltd ANL$2.6 million
- Atyr Pharma Inc. ATYR$2.1 million
- Tscan Therapeutics Inc. TCRX$891,648
Added to 5
- Veradermics Inc MANE+42,816 shares · +17%
- Korro Bio Inc. KRRO+295,664 shares · +270%
- Aclaris Therapeutics Inc. ACRS+494,809 shares · +16%
- Inhibikase Therapeutics Inc. IKT+1.1 million shares · +18%
- Gossamer Bio Inc. GOSS+4.6 million shares · +26%
Trimmed 3
- Uniqure NV QURE-343,997 shares · -68%
- Ea Series Trust BOXX-110,512 shares · -33%
- Instil Bio Inc. TIL-123,679 shares · -38%
Sold out of 7
- Relay Therapeutics Inc. RLAY$17.9 million last quarter
- Oruka Therapeutics Inc. ORKA$11.6 million last quarter
- Pepgen Inc. PEPG$3.1 million last quarter
- Tenaya Therapeutics Inc. TNYA$2.8 million last quarter
- Kalaris Therapeutics Inc KLRS$1.6 million last quarter
- Diamedica Therapeutics Inc. DMAC$846,088 last quarter
- Loop Industries Inc. LOOP$361,441 last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Veradermics Inc MANE | 291.4K | $35.8 million | 11.43% | +42.8K |
| X4 Pharmaceuticals Inc. XFOR | 7.4M | $34.8 million | 11.09% | no change |
| Ea Series Trust BOXX | 226.2K | $26.5 million | 8.45% | -110.5K |
| Compass Pathways PLC CMPS | 1.6M | $23.2 million | 7.40% | no change |
| Surrozen Inc. SRZN | 770.4K | $20.0 million | 6.38% | no change |
| Aclaris Therapeutics Inc. ACRS | 3.7M | $19.4 million | 6.18% | +494.8K |
| Sionna Therapeutics Inc SION | 394.1K | $17.3 million | 5.53% | no change |
| Inhibikase Therapeutics Inc. IKT | 7.6M | $15.5 million | 4.95% | +1.1M |
| Pharvaris N V PHVS | 397.5K | $13.7 million | 4.39% | no change |
| Karyopharm Therapeutics Inc. KPTI | 1.4M | $13.4 million | 4.27% | new |
| Septerna Inc. SEPN | 389.1K | $13.0 million | 4.16% | no change |
| Inflarx NV IFRX | 5.8M | $13.0 million | 4.14% | new |
| Cyclerion Therapeutics Inc. CYCN | 3.3M | $11.2 million | 3.57% | new |
| Uniqure NV QURE | 158.8K | $7.3 million | 2.33% | -344.0K |
| Athira Pharma Inc. LONA | 787.4K | $7.2 million | 2.31% | no change |
| Galecto Inc. DMRA | 278.0K | $7.2 million | 2.31% | no change |
| Moonlake Immunotherapeutics MLTX | 351.5K | $6.8 million | 2.18% | no change |
| Korro Bio Inc. KRRO | 405.0K | $5.3 million | 1.70% | +295.7K |
| Tyra Biosciences Inc. TYRA | 148.9K | $4.8 million | 1.52% | no change |
| Nuvectis Pharma Inc. NVCT | 200.0K | $3.7 million | 1.17% | new |
| Gossamer Bio Inc. GOSS | 22.3M | $3.7 million | 1.17% | +4.6M |
| Milestone Pharmaceuticals Inc. (mist) MIST | 2.5M | $3.4 million | 1.09% | new |
| Adlai Nortye Ltd ANL | 226.4K | $2.6 million | 0.83% | new |
| Atyr Pharma Inc. ATYR | 3.6M | $2.1 million | 0.68% | new |
| Instil Bio Inc. TIL | 199.2K | $1.5 million | 0.49% | -123.7K |
| Tscan Therapeutics Inc. TCRX | 909.8K | $891,648 | 0.28% | new |