Velan Capital Investment Management LP
Filing Date
Global Rank
#4,707
/ 8,622
▲ 379
· as of Mar 2026
Top Industry
Biotechnology
90.8%
3Y Alpha vs SPY
-59.7%
Period ended 4 months ago
Filed May 15, 2026 · 2mo
18 quarters · since Dec 2021
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Cloned portfolio
+69.3%
SPY
+67.9%
Annualised alpha
+0.3%
Max drawdown
−54.1%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.
Portfolio Concentration
49 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
20.3%
−0.3 pts
Top 5
50.3%
−1.4 pts
Top 10
73.1%
+1.4 pts
HHI
795
Diversified−25
Portfolio Trend
18 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 100.0% | $159,643,884 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
12 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| IMMX | Immix Biopharma, Inc. | +705,000 | 740,000 | $6,741,400 | |
| ESPR | Esperion Therapeutics, Inc. | +510,000 | 1,720,000 | $4,712,800 | |
| TENX | Tenax Therapeutics, Inc. | +500,000 | 583,333 | $9,327,494 | |
| CTMX | CytomX Therapeutics, Inc. | +460,000 | 540,000 | $2,538,000 | |
| STRO | Sutro Biopharma, Inc. | +200,160 | 512,160 | $12,757,905 | |
| EDSA | Edesa Biotech, Inc. | +140,000 | 827,500 | $4,327,825 | |
| PMVP | PMV Pharmaceuticals, Inc. | +38,000 | 73,000 | $90,520 | |
| DTIL | Precision Biosciences Inc | +20,000 | 40,000 | $220,000 | |
| CRBP | Corbus Pharmaceuticals Holdings, Inc. | +13,000 | 26,000 | $244,140 | |
| ABVX | Abivax S.A. | +10,000 | 77,000 | $8,573,950 | |
| REPL | Replimune Group, Inc. | +5,000 | 20,000 | $153,000 | |
| VRDN | Viridian Therapeutics, Inc.\DE | +4,623 | 91,123 | $1,782,365 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
8 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| KZIA | Kazia Therapeutics Ltd | −164,685 | 135,315 | $1,006,743 | |
| XLO | Xilio Therapeutics, Inc. | −155,715 | 14,285 | $120,136 | |
| MLYS | Mineralys Therapeutics, Inc. | −140,000 | 11,000 | $297,990 | |
| SNDX | Syndax Pharmaceuticals Inc | −120,000 | 10,000 | $233,600 | |
| AVTX | Avalo Therapeutics, Inc. | −78,520 | 185,122 | $2,763,871 | |
| EVMN | Evommune, Inc. | −60,499 | 446,255 | $10,259,402 | |
| NSPR | InspireMD, Inc. | −44,046 | 2,099,652 | $3,422,432 | |
| MPLT | MapLight Therapeutics, Inc. | −29,412 | 492,893 | $10,020,514 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
11 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| AVR | Anteris Technologies Global Corp. | 700,000 | $3,885,000 | |
| XNCR | Xencor Inc | 250,000 | $3,015,000 | |
| LYEL | Lyell Immunopharma, Inc. | 102,000 | $2,046,120 | |
| RCKT | Rocket Pharmaceuticals, Inc. | 294,643 | $1,054,821 | |
| NSRX | Nasus Pharma Ltd | 359,390 | $797,845 | |
| QNRX | Quoin Pharmaceuticals, Ltd. | 84,849 | $560,003 | |
| ARTV | Artiva Biotherapeutics, Inc. | 25,000 | $161,000 | |
| NMRA | Neumora Therapeutics, Inc. | 80,000 | $156,000 | |
| KLRS | Kalaris Therapeutics, Inc. | 18,000 | $103,860 | |
| MGNX | Macrogenics Inc | 30,000 | $86,700 | |
| KPTI | Karyopharm Therapeutics Inc. | 15,000 | $83,550 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
4 positions
49 tracked positions ·
$159,643,884 total
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| PRAX |
Praxis Precision Medicines, Inc.
Healthcare
|
Held | 100,781 | $32,470,630 | 20.34% | |
| TARA |
Protara Therapeutics, Inc.
Healthcare
|
Held | 2,834,652 | $14,768,536 | 9.25% | |
| STRO |
Sutro Biopharma, Inc.
Healthcare
|
Added | 512,160 | $12,757,905 | 7.99% | |
| EVMN |
Evommune, Inc.
Healthcare
|
Reduced | 446,255 | $10,259,402 | 6.43% | |
| MPLT |
MapLight Therapeutics, Inc.
Healthcare
|
Reduced | 492,893 | $10,020,514 | 6.28% | |
| TENX |
Tenax Therapeutics, Inc.
Healthcare
|
Added | 583,333 | $9,327,494 | 5.84% | |
| ABVX |
Abivax S.A.
Healthcare
|
Added | 77,000 | $8,573,950 | 5.37% | |
| HRTX |
Heron Therapeutics, Inc. /De/
Healthcare
|
Held | 8,753,290 | $7,002,632 | 4.39% | |
| IMMX |
Immix Biopharma, Inc.
Healthcare
|
Added | 740,000 | $6,741,400 | 4.22% | |
| ESPR |
Esperion Therapeutics, Inc.
Healthcare
|
Added | 1,720,000 | $4,712,800 | 2.95% | |
| EDSA |
Edesa Biotech, Inc.
Healthcare
|
Added | 827,500 | $4,327,825 | 2.71% | |
| AVR |
Anteris Technologies Global Corp.
Healthcare
|
NEW | 700,000 | $3,885,000 | 2.43% | |
| NSPR |
InspireMD, Inc.
Healthcare
|
Reduced | 2,099,652 | $3,422,432 | 2.14% | |
| XNCR |
Xencor Inc
Healthcare
|
NEW | 250,000 | $3,015,000 | 1.89% | |
| AVTX |
Avalo Therapeutics, Inc.
Healthcare
|
Reduced | 185,122 | $2,763,871 | 1.73% | |
| EPRX |
Eupraxia Pharmaceuticals Inc.
Healthcare
|
Held | 352,000 | $2,548,480 | 1.60% | |
| CTMX |
CytomX Therapeutics, Inc.
Healthcare
|
Added | 540,000 | $2,538,000 | 1.59% | |
| VRCA |
Verrica Pharmaceuticals Inc.
Healthcare
|
Held | 471,559 | $2,494,547 | 1.56% | |
| JSPR |
Jasper Therapeutics, Inc.
Healthcare
|
Held | 2,668,395 | $2,337,513 | 1.46% | |
| RZLT |
Rezolute, Inc.
Healthcare
|
Held | 750,000 | $2,287,500 | 1.43% | |
| LYEL |
Lyell Immunopharma, Inc.
Healthcare
|
NEW | 102,000 | $2,046,120 | 1.28% | |
| PROF |
Profound Medical Corp.
Healthcare
|
Held | 285,710 | $1,851,400 | 1.16% | |
| VRDN |
Viridian Therapeutics, Inc.\DE
Healthcare
|
Added | 91,123 | $1,782,365 | 1.12% | |
| RCKT |
Rocket Pharmaceuticals, Inc.
Healthcare
|
NEW | 294,643 | $1,054,821 | 0.66% | |
| KZIA |
Kazia Therapeutics Ltd
Healthcare
|
Reduced | 135,315 | $1,006,743 | 0.63% | |
| NSRX |
Nasus Pharma Ltd
Healthcare
|
NEW | 359,390 | $797,845 | 0.50% | |
| QNRX |
Quoin Pharmaceuticals, Ltd.
Healthcare
|
NEW | 84,849 | $560,003 | 0.35% | |
| ARWR |
Arrowhead Pharmaceuticals, Inc.
Healthcare
|
Held | 6,500 | $407,550 | 0.26% | |
| PTGX |
Protagonist Therapeutics, Inc
Healthcare
|
Held | 3,700 | $389,980 | 0.24% | |
| OVID |
Ovid Therapeutics Inc.
Healthcare
|
Held | 160,000 | $355,200 | 0.22% | |
| MLYS |
Mineralys Therapeutics, Inc.
Healthcare
|
Reduced | 11,000 | $297,990 | 0.19% | |
| CNTX |
Context Therapeutics Inc.
Healthcare
|
Held | 100,000 | $262,000 | 0.16% | |
| NRIX |
Nurix Therapeutics, Inc.
Healthcare
|
Held | 16,000 | $248,000 | 0.16% | |
| CRBP |
Corbus Pharmaceuticals Holdings, Inc.
Healthcare
|
Added | 26,000 | $244,140 | 0.15% | |
| SNDX |
Syndax Pharmaceuticals Inc
Healthcare
|
Reduced | 10,000 | $233,600 | 0.15% | |
| DTIL |
Precision Biosciences Inc
Healthcare
|
Added | 40,000 | $220,000 | 0.14% | |
| IMNM |
Immunome Inc.
Healthcare
|
Held | 10,000 | $218,700 | 0.14% | |
| DSGN |
Design Therapeutics, Inc.
Healthcare
|
Held | 20,000 | $212,800 | 0.13% | |
| ARTV |
Artiva Biotherapeutics, Inc.
Healthcare
|
NEW | 25,000 | $161,000 | 0.10% | |
| NMRA |
Neumora Therapeutics, Inc.
Healthcare
|
NEW | 80,000 | $156,000 | 0.10% | |
| REPL |
Replimune Group, Inc.
Healthcare
|
Added | 20,000 | $153,000 | 0.10% | |
| LRMR |
Larimar Therapeutics, Inc.
Healthcare
|
Held | 33,000 | $148,500 | 0.09% | |
| XLO |
Xilio Therapeutics, Inc.
Healthcare
|
Reduced | 14,285 | $120,136 | 0.08% | |
| KLRS |
Kalaris Therapeutics, Inc.
Healthcare
|
NEW | 18,000 | $103,860 | 0.07% | |
| PMVP |
PMV Pharmaceuticals, Inc.
Healthcare
|
Added | 73,000 | $90,520 | 0.06% | |
| MGNX |
Macrogenics Inc
Healthcare
|
NEW | 30,000 | $86,700 | 0.05% | |
| KPTI |
Karyopharm Therapeutics Inc.
Healthcare
|
NEW | 15,000 | $83,550 | 0.05% | |
| PRQR |
ProQR Therapeutics N.V.
Healthcare
|
Held | 45,000 | $72,900 | 0.05% | |
| GOSS |
Gossamer Bio, Inc.
Healthcare
|
Held | 70,000 | $23,030 | 0.01% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.