Returns–Not enough quarters yet
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| MANEVeradermics Inc | $35.8M | 11.4% | +17.2% |
| XFORX4 Pharmaceuticals Inc | $34.8M | 11.1% | |
| BOXXEa Series Trust | $26.5M | 8.4% | −32.8% |
| CMPSCompass Pathways Plc | $23.2M | 7.4% | |
| SRZNSurrozen Inc | $20.0M | 6.4% | |
| ACRSAclaris Therapeutics Inc | $19.4M | 6.2% | +15.6% |
| SIONSionna Therapeutics Inc | $17.3M | 5.5% | |
| IKTInhibikase Therapeutics Inc | $15.5M | 4.9% | +17.7% |
| Pharvaris NVCUSIP N69605108 | $13.7M | 4.4% | |
| KPTIKaryopharm Therapeutics Inc | $13.4M | 4.3% | New |
| SEPNSepterna Inc | $13.0M | 4.2% | |
| Inflarx NvCUSIP N44821101 | $13.0M | 4.1% | New |
| Cyclerion Therapeutics IncCUSIP 23255M204 | $11.2M | 3.6% | New |
| Uniqure NvCUSIP N90064101 | $7.3M | 2.3% | −68.4% |
| LONALeonaBio Inc | $7.2M | 2.3% | |
| Damora Therapeutics IncCUSIP 36322Q206 | $7.2M | 2.3% | |
| MLTXMoonLake Immunotherapeutics | $6.8M | 2.2% | |
| KRROKorro Bio Inc | $5.3M | 1.7% | +270.3% |
| TYRATyra Biosciences Inc | $4.8M | 1.5% | |
| NVCTNuvectis Pharma Inc | $3.7M | 1.2% | New |
| Gossamer Bio IncCUSIP 38341P102 | $3.7M | 1.2% | +25.9% |
| MISTMilestone Pharmaceuticals Inc | $3.4M | 1.1% | New |
| ANLAdlai Nortye | $2.6M | 0.8% | New |
| ATYRAtyr Pharma Inc | $2.1M | 0.7% | New |
| TILInstil Bio Inc | $1.5M | 0.5% | −38.3% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| Uniqure NvCUSIP N90064101 | March 31, 2026 | +181.7% | $7.3M |
| CMPSCompass Pathways Plc | December 31, 2025 | +105.1% | $23.2M |
| MANEVeradermics Inc | March 31, 2026 | +94.7% | $35.8M |
| MLTXMoonLake Immunotherapeutics | December 31, 2025 | +47.7% | $6.8M |
| ACRSAclaris Therapeutics Inc | March 31, 2026 | +41.1% | $19.4M |
| Pharvaris NVCUSIP N69605108 | December 31, 2025 | +24.6% | $13.7M |
| TYRATyra Biosciences Inc | December 31, 2025 | +21.5% | $4.8M |
| LONALeonaBio Inc | December 31, 2025 | +21.4% | $7.2M |
| SEPNSepterna Inc | December 31, 2025 | +20.1% | $13.0M |
| XFORX4 Pharmaceuticals Inc | December 31, 2025 | +16.8% | $34.8M |
Sold off last quarter
- RLAYRelay Therapeutics Inc was $17.9M
- ORKAOruka Therapeutics Inc was $11.6M
- PEPGPepGen Inc was $3.1M
- TNYATenaya Therapeutics Inc was $2.8M
- KLRSKalaris Therapeutics Inc was $1.6M
- DMACDiaMedica Therapeutics Inc was $846K
- LOOPLongeveron Inc was $361K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +31.8% | +14.8% |
| March 31, 2026 | +9.1% | −4.6% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Kalehua Capital Management LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2106181&type=13F-HR&dateb=&owner=include&count=40CIK 2106181
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/2106181/000210618126000007/Filed August 14, 2026 · accession 0002106181-26-000007