Q2 2026 13F · SEC CIK 2106181
Kalehua Capital Management LLC
Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $139.5M
- Reported positions
- 23
- Holdings vs S&P 500, 3 yrs
- —
- Average holding period
- 3 qtrs
Kalehua Capital Management LLC is a hedge fund that reported 23 positions worth $139.5M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Veradermics Inc (MANE, 12.8%), X4 Pharmaceuticals Inc (XFOR, 12.5%), Compass Pathways PLC (CMPS, 8.3%).
Kalehua Capital Management LLC holdings all 23 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| MANEVeradermics Inc | 12.8% | +41.6% | $17.9M |
| XFORX4 Pharmaceuticals Inc | 12.5% | +0.0% | $17.4M |
| CMPSCompass Pathways PLC | 8.3% | +0.0% | $11.6M |
| SRZNSurrozen Inc | 7.2% | +0.0% | $10.0M |
| ACRSAclaris Therapeutics Inc | 6.9% | +37.0% | $9.7M |
| 829401108Sionna Therapeutics Inc | 6.2% | +0.0% | $8.7M |
| IKTInhibikase Therapeutics Inc | 5.6% | +43.0% | $7.8M |
| PHVSPharvaris N V | 4.9% | +0.0% | $6.9M |
| KPTIKaryopharm Therapeutics Inc | 4.8% | — | $6.7M |
| SEPNSepterna Inc | 4.7% | +0.0% | $6.5M |
| N44821101Inflarx NV | 4.7% | — | $6.5M |
| CYCNCyclerion Therapeutics Inc | 4.0% | — | $5.6M |
| QUREUniqure NV | 2.6% | -62.5% | $3.7M |
| LONALeonabio Inc | 2.6% | +0.0% | $3.6M |
| GLTODamora Therapeutics Inc | 2.6% | +0.0% | $3.6M |
| MLTXMoonlake Immunotherapeutics | 2.5% | +0.0% | $3.4M |
| TYRATyra Biosciences Inc | 1.7% | +0.0% | $2.4M |
| NVCTNuvectis Pharma Inc | 1.3% | — | $1.8M |
| GOSSGossamer Bio Inc | 1.3% | +49.2% | $1.8M |
| MISTMilestone Pharmaceuticals in | 1.2% | — | $1.7M |
| 002120202Atyr Pharma Inc | 0.8% | — | $1.1M |
| TILInstil Bio Inc | 0.5% | -28.8% | $766K |
| TCRXTscan Therapeutics Inc | 0.3% | — | $446K |
What Kalehua Capital Management LLC bought and sold in Q2 2026, against Q1 2026.
New positions
- KPTI Karyopharm Therapeutics Inc4.8% of 13F
- Inflarx NV4.7% of 13F
- CYCN Cyclerion Therapeutics Inc4.0% of 13F
- NVCT Nuvectis Pharma Inc1.3% of 13F
- MIST Milestone Pharmaceuticals in1.2% of 13F
- Atyr Pharma Inc0.8% of 13F
- TCRX Tscan Therapeutics Inc0.3% of 13F
Added to
- GOSS Gossamer Bio Inc+49.2% shares
- IKT Inhibikase Therapeutics Inc+43.0% shares
- MANE Veradermics Inc+41.6% shares
- ACRS Aclaris Therapeutics Inc+37.0% shares
Reduced
- QURE Uniqure NV-62.5% shares
- TIL Instil Bio Inc-28.8% shares
Sold out
- BOXX Ea Series Trustwas 11.6%
- RLAY Relay Therapeutics Incwas 7.6%
- ORKA Oruka Therapeutics Incwas 4.9%
- TNYA Tenaya Therapeutics Incwas 1.2%
- PEPG Pepgen Incwas 1.1%
- Kalaris Therapeutics Inc Comwas 0.7%
- DMAC Diamedica Therapeutics Incwas 0.4%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- —
- 3 years
- —
- 5 years
- —
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $139.5M | 23 |
| Q1 2026 | $118.6M | 23 |
| Q4 2025 | $101.1M | 19 |
Questions about Kalehua Capital Management LLC's portfolio
What stocks does Kalehua Capital Management LLC own?
Kalehua Capital Management LLC's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 23 positions worth $139.5M. The largest are Veradermics Inc (MANE) at 12.8%, X4 Pharmaceuticals Inc (XFOR) at 12.5%, Compass Pathways PLC (CMPS) at 8.3%, Surrozen Inc (SRZN) at 7.2% and Aclaris Therapeutics Inc (ACRS) at 6.9%.
What did Kalehua Capital Management LLC buy last quarter?
In Q2 2026, Kalehua Capital Management LLC added a new position in Karyopharm Therapeutics Inc (KPTI), a new position in Inflarx NV, a new position in Cyclerion Therapeutics Inc (CYCN), a new position in Nuvectis Pharma Inc (NVCT), a new position in Milestone Pharmaceuticals in (MIST), Gossamer Bio Inc (GOSS) (+49.2% shares), Inhibikase Therapeutics Inc (IKT) (+43.0% shares) and Veradermics Inc (MANE) (+41.6% shares), compared with its Q1 2026 filing.
What did Kalehua Capital Management LLC sell last quarter?
In Q2 2026, Kalehua Capital Management LLC sold all of Ea Series Trust (BOXX), sold all of Relay Therapeutics Inc (RLAY), sold all of Oruka Therapeutics Inc (ORKA), sold all of Tenaya Therapeutics Inc (TNYA), sold all of Pepgen Inc (PEPG), Uniqure NV (QURE) (-62.5% shares) and Instil Bio Inc (TIL) (-28.8% shares), compared with its Q1 2026 filing.
When is Kalehua Capital Management LLC's next 13F filing due?
13F filings are due 45 days after each quarter ends. Kalehua Capital Management LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.