KVP Capital Advisors, LP
SAN FRANCISCO, CA
$136m in 35 US stocks at the end of 30 June 2026. The top 10 are 57.4% of the money. It changed about 27.1% of the portfolio this quarter.
Value
$136m
Stocks
35
Top 10 share
57.4%
Turnover
27.1%
What changed this quarter
New
Bought for the first time this quarter.
- Tandem Diabetes CareTNDM3.3% of the fund
- ArriVent BioPharmaAVBP2.6% of the fund
- Design TherapeuticsDSGN2.0% of the fund
- Mineralys TherapeuticsMLYS1.7% of the fund
- Artiva BiotherapeuticsARTV1.4% of the fund
- EvolusEOLS0.8% of the fund
Added
Bought more of a stock they already held.
- ErascaERAS6.1% of the fund+34%
- Compass TherapeuticsCMPX1.2% of the fund+54%
Cut
Sold some of their stake.
- Axsome TherapeuticsAXSM2.2% of the fund-67%
- Travere TherapeuticsTVTX1.6% of the fund-57%
Sold out
Sold their entire stake.
- Terns Pharmaceuticals-100%
- Revolution MedicinesRVMD-100%
- Soleno Therapeutics-100%
Holdings
- Bright Minds BiosciencesDRUG
- Share
- 1.6%
- Value
- $2m
- Shares
- 31,813
Held
- Vyne Therapeutics
- Share
- 0.2%
- Value
- $325,709
- Shares
- 500,551
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Praxis Precision MedicinesPRAX | 10.5% | $14m | 42,900 | Held |
| Whitehawk TherapeuticsWHWK | 7.3% | $10m | 2,165,997 | Held |
| ErascaERAS | 6.1% | $8m | 455,000 | +34% |
| Trevi TherapeuticsTRVI | 5.7% | $8m | 414,000 | Held |
| Sutro BiopharmaSTRO | 5.5% | $8m | 226,575 | Held |
| Tango TherapeuticsTNGX | 5.3% | $7m | 230,264 | Held |
| MBX BiosciencesMBX | 4.9% | $7m | 121,524 | Held |
| Protagonist TherapeuticsPTGX | 4.8% | $6m | 53,000 | Held |
| Edgewise TherapeuticsEWTX | 4.0% | $5m | 133,000 | Held |
| Tandem Diabetes CareTNDM | 3.3% | $5m | 301,000 | New |
| Disc MedicineIRON | 3.1% | $4m | 58,250 | Held |
| SavaraSVRA | 2.7% | $4m | 605,280 | Held |
| ArriVent BioPharmaAVBP | 2.6% | $4m | 102,000 | New |
| InsmedINSM | 2.2% | $3m | 28,497 | Held |
| Achieve Life SciencesACHV | 2.2% | $3m | 462,355 | Held |
| IDEAYA BiosciencesIDYA | 2.2% | $3m | 79,700 | Held |
| Ocular TherapeutixOCUL | 2.2% | $3m | 300,000 | Held |
| Axsome TherapeuticsAXSM | 2.2% | $3m | 12,000 | -67% |
| Design TherapeuticsDSGN | 2.0% | $3m | 185,000 | New |
| United TherapeuticsUTHR | 1.9% | $3m | 4,750 | Held |
| Scholar Rock HoldingSRRK | 1.8% | $2m | 45,000 | Held |
| Immix BiopharmaIMMX | 1.7% | $2m | 230,423 | Held |
| Viridian TherapeuticsVRDN | 1.7% | $2m | 125,000 | Held |
| Mineralys TherapeuticsMLYS | 1.7% | $2m | 84,168 | New |
| Bright Minds BiosciencesDRUG | 1.6% | $2m | 31,813 | Held |
| Travere TherapeuticsTVTX | 1.6% | $2m | 39,000 | -57% |
| Zura BioZURA | 1.6% | $2m | 373,128 | Held |
| Artiva BiotherapeuticsARTV | 1.4% | $2m | 200,000 | New |
| Nektar TherapeuticsNKTR | 1.4% | $2m | 26,900 | Held |
| Compass TherapeuticsCMPX | 1.2% | $2m | 771,000 | +54% |
| Cabaletta BioCABA | 1.2% | $2m | 505,431 | Held |
| Vera TherapeuticsVERA | 1.0% | $1m | 32,700 | Held |
| EvolusEOLS | 0.8% | $1m | 150,000 | New |
| CelcuityCELC | 0.3% | $418,480 | 4,000 | Held |
| Vyne Therapeutics | 0.2% | $325,709 | 500,551 | Held |
Over time and by industry
Value over time
Dec '25
Jun '26
Value is up 40.7% since 31 December 2025.
Where the money is
Health care99.8%
Other0.2%
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.