2026 Q1 Portfolio Activity
In 2026 Q1, Kalehua Capital Management LLC maintained a portfolio of 26 distinct positions. The most significant new addition was Veradermics Inc, now representing 5.48% of the total fund value. They heavily accumulated shares in Inhibikase Therapeutics Inc, increasing the position by 52.7%. The fund also reduced its exposure to Alpha Architect 1-3 Month Box by 48.7%.
Position History
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Total Positions
26
Quarter
2026 Q1
Top Holding
XFOR (13.0%)
Top 10 Concentration
71.5%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-26 of 26
Kalehua Capital Management LLC Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
XFOR
X4 Pharmaceutic...
|
Healthcare | 12.96% | 14.73% |
#1
1
Prev: #2
|
7.0 |
—
|
no change | no change |
P
S
|
3,722,840 | $15,375,329 |
$4.00
+0.0%
|
2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
BOXX
Alpha Architect...
|
ETF | 11.61% | 26.27% |
#2
1
Prev: #1
|
5.5 |
—
|
-112,365 | -48.7% |
P
S
|
118,422 | $13,771,294 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SRZN
Surrozen Inc
|
Healthcare | 9.46% | 1.87% |
#3
13
Prev: #16
|
5.8 |
—
|
no change | no change |
P
S
|
385,178 | $11,220,235 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RLAY
Relay Therapeut...
|
Healthcare | 7.56% | 7.54% |
#4
Prev: #4
|
4.5 |
—
|
no change | no change |
P
S
|
901,457 | $8,969,497 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SION
Sionna Therapeu...
|
Healthcare | 6.66% | 8.02% |
#5
2
Prev: #3
|
4.2 |
—
|
no change | no change |
P
S
|
197,072 | $7,900,616 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
Veradermics Inc
|
|
Unknown | 5.48% | — |
#6
Prev: #—
|
5.7 |
—
|
102,879 | — |
NEW
|
102,879 | $6,496,809 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
ORKA
Oruka Therapeut...
|
Healthcare | 4.90% | 3.55% |
#7
1
Prev: #8
|
3.0 |
—
|
no change | no change |
P
S
|
118,524 | $5,813,602 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PHVS
Pharvaris NV
|
Healthcare | 4.73% | 5.46% |
#8
2
Prev: #6
|
2.9 |
—
|
no change | no change |
P
S
|
198,772 | $5,615,309 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ACRS
ACLARIS THERAPE...
|
Healthcare | 4.23% | — |
#9
Prev: #—
|
5.2 |
—
|
1,337,556 | — |
NEW
|
1,337,556 | $5,015,835 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SEPN
Septerna Inc
|
Healthcare | 3.94% | 5.36% |
#10
3
Prev: #7
|
2.6 |
—
|
no change | no change |
P
S
|
194,544 | $4,674,892 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CMPS
Compass Pathway...
|
Healthcare | 3.82% | 5.59% |
#11
6
Prev: #5
|
2.5 |
—
|
no change | no change |
P
S
|
819,692 | $4,532,897 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IKT
Inhibikase Ther...
|
Healthcare | 3.79% | 3.55% |
#12
3
Prev: #9
|
4.5 |
—
|
922,608 | 52.7% |
P
S
|
2,672,608 | $4,489,981 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LONA
LeonaBio Inc
|
Healthcare | 3.41% | 2.95% |
#13
2
Prev: #11
|
2.4 |
—
|
no change | no change |
P
S
|
393,701 | $4,047,246 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GLTO
Damora Therapeu...
|
Healthcare | 3.04% | — |
#14
Prev: #—
|
4.7 |
—
|
139,000 | — |
NEW
|
139,000 | $3,600,100 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
QURE
Uniqure NV
|
Healthcare | 2.92% | — |
#15
Prev: #—
|
4.7 |
—
|
211,702 | — |
NEW
|
211,702 | $3,461,328 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MLTX
MoonLake Immuno...
|
Healthcare | 2.76% | 2.29% |
#16
4
Prev: #12
|
2.1 |
—
|
no change | no change |
P
S
|
175,734 | $3,275,682 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TYRA
Tyra Bioscience...
|
Healthcare | 2.40% | 1.94% |
#17
2
Prev: #15
|
2.0 |
—
|
no change | no change |
P
S
|
74,465 | $2,852,009 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GOSS
Gossamer Bio In...
|
Healthcare | 2.07% | — |
#18
Prev: #—
|
4.3 |
—
|
7,471,840 | — |
NEW
|
7,471,840 | $2,454,499 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TNYA
Tenaya Therapeu...
|
Healthcare | 1.17% | 1.41% |
#19
2
Prev: #17
|
1.5 |
—
|
no change | no change |
P
S
|
2,000,000 | $1,384,800 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PEPG
PepGen Inc
|
Healthcare | 1.09% | — |
#20
Prev: #—
|
3.9 |
—
|
729,961 | — |
NEW
|
729,961 | $1,292,031 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TIL
Instil Bio Inc
|
Healthcare | 0.97% | — |
#21
Prev: #—
|
3.9 |
—
|
139,849 | — |
NEW
|
139,849 | $1,152,356 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KLRS
Kalaris Therape...
|
Healthcare | 0.66% | 1.17% |
#22
4
Prev: #18
|
0.8 |
—
|
-4,316 | -3.1% |
P
S
|
135,585 | $782,325 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DMAC
DiaMedica Thera...
|
Healthcare | 0.36% | 0.75% |
#23
4
Prev: #19
|
0.1 |
—
|
-32,871 | -34.5% |
P
S
|
62,488 | $423,044 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
VRCA
Verrica Pharmac...
|
Healthcare | 0.00% | 1.94% |
Sold All 😨
(Was: #14) |
0.0 |
—
|
-235,779 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ORIC
Oric Pharmaceut...
|
Healthcare | 0.00% | 2.16% |
Sold All 😨
(Was: #13) |
0.0 |
—
|
-267,059 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ALLO
Allogene Therap...
|
Healthcare | 0.00% | 3.45% |
Sold All 😨
(Was: #10) |
0.0 |
—
|
-2,546,129 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 |
Showing 1-26 of 26 holdings