Kalehua Capital Management
DALLAS, TXfiles as Kalehua Capital Management LLC
$313m in 26 US stocks at the end of 30 June 2026. The top 10 are 70.1% of the money. It changed about 29.6% of the portfolio this quarter.
Value
$313m
Stocks
26
Top 10 share
70.1%
Turnover
29.6%
What changed this quarter
New
Bought for the first time this quarter.
- Karyopharm TherapeuticsKPTI4.3% of the fund
- InflaRxIFRX4.1% of the fund
- Cyclerion Therapeutics3.6% of the fund
- Nuvectis PharmaNVCT1.2% of the fund
- Milestone PharmaceuticalsMIST1.1% of the fund
- Adlai NortyeANL0.8% of the fund
- aTYR PHARMAATYR0.7% of the fund
- TScan TherapeuticsTCRX0.3% of the fund
Added
Bought more of a stock they already held.
- VeradermicsMANE11.4% of the fund+17%
- Aclaris TherapeuticsACRS6.2% of the fund+16%
- Inhibikase TherapeuticsIKT4.9% of the fund+18%
- Korro BioKRRO1.7% of the fund+270%
- Gossamer BioGOSS1.2% of the fund+26%
Cut
Sold some of their stake.
- EA Series TrustBOXX8.4% of the fund-33%
- uniQureQURE2.3% of the fund-68%
- Instil BioTIL0.5% of the fund-38%
Sold out
Sold their entire stake.
Holdings
- EA Series TrustBOXX
- Share
- 8.4%
- Value
- $26m
- Shares
- 226,188
-33%
- Cyclerion Therapeutics
- Share
- 3.6%
- Value
- $11m
- Shares
- 3,302,700
New
- Damora Therapeutics
- Share
- 2.3%
- Value
- $7m
- Shares
- 278,000
Held
- Adlai NortyeANL
- Share
- 0.8%
- Value
- $3m
- Shares
- 226,415
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| VeradermicsMANE | 11.4% | $36m | 291,390 | +17% |
| X4 PharmaceuticalsXFOR | 11.1% | $35m | 7,445,680 | Held |
| EA Series TrustBOXX | 8.4% | $26m | 226,188 | -33% |
| COMPASS PathwaysCMPS | 7.4% | $23m | 1,639,384 | Held |
| SurrozenSRZN | 6.4% | $20m | 770,356 | Held |
| Aclaris TherapeuticsACRS | 6.2% | $19m | 3,664,730 | +16% |
| Sionna TherapeuticsSION | 5.5% | $17m | 394,144 | Held |
| Inhibikase TherapeuticsIKT | 4.9% | $16m | 7,643,780 | +18% |
| PharvarisPHVS | 4.4% | $14m | 397,544 | Held |
| Karyopharm TherapeuticsKPTI | 4.3% | $13m | 1,371,288 | New |
| SepternaSEPN | 4.2% | $13m | 389,088 | Held |
| InflaRxIFRX | 4.1% | $13m | 5,795,538 | New |
| Cyclerion Therapeutics | 3.6% | $11m | 3,302,700 | New |
| uniQureQURE | 2.3% | $7m | 158,814 | -68% |
| LeonaBioLONA | 2.3% | $7m | 787,402 | Held |
| Damora Therapeutics | 2.3% | $7m | 278,000 | Held |
| MoonLake ImmunotherapeuticsMLTX | 2.2% | $7m | 351,468 | Held |
| Korro BioKRRO | 1.7% | $5m | 405,040 | +270% |
| Tyra BiosciencesTYRA | 1.5% | $5m | 148,930 | Held |
| Nuvectis PharmaNVCT | 1.2% | $4m | 200,000 | New |
| Gossamer BioGOSS | 1.2% | $4m | 22,298,726 | +26% |
| Milestone PharmaceuticalsMIST | 1.1% | $3m | 2,538,474 | New |
| Adlai NortyeANL | 0.8% | $3m | 226,415 | New |
| aTYR PHARMAATYR | 0.7% | $2m | 3,576,334 | New |
| Instil BioTIL | 0.5% | $2m | 199,200 | -38% |
| TScan TherapeuticsTCRX | 0.3% | $891,648 | 909,752 | New |
Over time and by industry
Value over time
Dec '25
Jun '26
Value is up 210.1% since 31 December 2025.
Where the money is
Health care84.8%
Other15.2%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.