Velan Capital Investment Management LP

Registered adviser

CIK

1848809

Location

ALPHARETTA, GA

Portfolio Value

Small $164,235,578

Diversification

Diversified

Filing Date

Global Rank

#7,121 / 8,818 ▼ 330

Top Industry

Biotechnology 94.2%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

19 quarters · since Dec 2021

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 310520

Roster of Oct 1, 2026

Regulatory AUM

$917,526,516

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

7 funds · Mixed

Focus by fund count, roster of Oct 1, 2026

$917,526,515 gross assets

LEI

2549009SHB59XHUX6731

Private funds on Schedule D 7.B.(1)

As filed Oct 25, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$861,076,218 gross assets in 6 funds Private equity funds $573,775,370 (3) Hedge funds $195,593,324 (2) Venture capital funds $91,707,524 (1)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$917,526,516	Pooled investment vehicles (100%)
Apr 2025 to Mar 2026	$1,019,893,053	Pooled investment vehicles (100%)
Apr 2024 to Mar 2025	$861,076,218	Pooled investment vehicles (100%)
May 2023 to Mar 2024	$635,920,291	Pooled investment vehicles (100%)
Apr 2023	$635,920,291	Pooled investment vehicles (100%)
Apr 2022 to Mar 2023	$429,890,001	Pooled investment vehicles (100%)

1 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 75.2% of the book (60%+)

Turnover

Medium turnover

67.3% over the last four quarters (30% to under 100%)

Horizon

Medium horizon

Value-weighted holding period 7.0 quarters (4 to under 12)

Closest benchmark: the Russell 2000 as of 2026-06-30, active share 98.8%; sector active share 90.9% against the combined 13F book's sector weights.

Over time 19 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

50 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

18.1%

−2.2 pts

Top 5

52.6%

+2.3 pts

Top 10

75.4%

+2.3 pts

HHI

791

Diversified−4

Portfolio Trend

19 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$164,235,578	50

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

10 positions

Ticker	Company	Δ Shares	Shares	Value
IMMX	Immix Biopharma, Inc.	+345,000	1,085,000	$11,186,350
NMRA	Neumora Therapeutics, Inc.	+150,000	230,000	$391,000
AVTX	Avalo Therapeutics, Inc.	+139,330	324,452	$5,995,872
MGNX	Macrogenics Inc	+30,000	60,000	$277,200
TARA	Protara Therapeutics, Inc.	+10,000	2,844,652	$10,866,570
KLRS	Kalaris Therapeutics, Inc.	+7,000	25,000	$101,750
EVMN	Evommune, Inc.	+5,000	451,255	$5,997,178
KPTI	Karyopharm Therapeutics Inc.	+5,000	20,000	$195,400
XNCR	Xencor Inc	+5,000	255,000	$4,105,500
LYEL	Lyell Immunopharma, Inc.	+3,000	105,000	$1,475,250
No positions match the current search.

Trimmed

Positions the filer reduced

11 positions

Ticker	Company	Δ Shares	Shares	Value
NSPR	InspireMD, Inc.	−1,951,514	148,138	$103,696
CTMX	CytomX Therapeutics, Inc.	−420,000	120,000	$450,000
RCKT	Rocket Pharmaceuticals, Inc.	−234,643	60,000	$205,200
PROF	Profound Medical Corp.	−115,432	170,278	$1,132,348
VRDN	Viridian Therapeutics, Inc.\DE	−81,123	10,000	$183,700
QNRX	Quoin Pharmaceuticals Ltd.	−52,477	32,372	$156,680
CNTX	Context Therapeutics Inc.	−40,300	59,700	$33,073
TENX	Tenax Therapeutics, Inc.	−33,348	549,985	$8,002,281
OVID	Ovid Therapeutics Inc.	−30,000	130,000	$349,700
PRAX	Praxis Precision Medicines, Inc.	−12,000	88,781	$29,722,990
ABVX	Abivax S.A.	−11,370	65,630	$8,745,853
No positions match the current search.

New Positions

Positions the filer opened this quarter

6 positions

Ticker	Company	Shares	Value
CCCC	C4 Therapeutics, Inc.	570,000	$2,661,900
ADMA	Adma Biologics, Inc.	250,000	$2,092,500
RNTX	Rein Therapeutics, Inc.	1,700,000	$1,768,000
TECX	Tectonic Therapeutic, Inc.	6,000	$206,280
ANTX	AN2 Therapeutics, Inc.	40,000	$193,600
SCYX	Scynexis Inc	40,000	$162,800
No positions match the current search.

Sold Out

Positions the filer fully exited

5 positions

Ticker	Company	Shares	Value
—		1,720,000	$4,712,800
KZIA	Kazia Therapeutics Ltd	135,315	$1,006,743
ARWR	Arrowhead Pharmaceuticals, Inc.	6,500	$407,550
DSGN	Design Therapeutics, Inc.	20,000	$212,800
PMVP	PMV Pharmaceuticals, Inc.	73,000	$90,520
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

50 tracked positions · $164,235,578 total · filing declares 53 positions · $164,207,527 · as of Jun 30, 2026

All sectors Healthcare

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
PRAX	Praxis Precision Medicines, Inc. Healthcare	Reduced	88,781	-12,000	$29,722,990	−8.5%	14	$42.25	18.10%
MPLT	MapLight Therapeutics, Inc. Healthcare	Held	492,893	0	$17,665,285	+76.3%	3	$16.75	10.76%
STRO	Sutro Biopharma, Inc. Healthcare	Held	512,160	0	$17,003,712	+33.3%	7	$13.66	10.35%
IMMX	Immix Biopharma, Inc. Healthcare	Added	1,085,000	+345,000	$11,186,350	+65.9%	5	$7.79	6.81%
TARA	Protara Therapeutics, Inc. Healthcare	Added	2,844,652	+10,000	$10,866,570	−26.4%	9	$3.79	6.62%
TENX	Tenax Therapeutics, Inc. CALL + SHARES Healthcare	Added	618,685	+35,352	$9,001,866	−3.5%	8	$12.11	5.48%
ABVX	Abivax S.A. Healthcare	Reduced	65,630	-11,370	$8,745,853	+2.0%	4	$70.33	5.33%
AVR	Anteris Technologies Global Corp. Healthcare	Held	700,000	0	$6,895,000	+77.5%	2	$5.74	4.20%
EDSA	Edesa Biotech, Inc. Healthcare	Held	827,500	0	$6,727,575	+55.4%	6	$2.30	4.10%
EVMN	Evommune, Inc. Healthcare	Added	451,255	+5,000	$5,997,178	−41.5%	3	$18.83	3.65%
AVTX	Avalo Therapeutics, Inc. Healthcare	Added	324,452	+139,330	$5,995,872	+116.9%	7	$11.82	3.65%
XNCR	Xencor Inc Healthcare	Added	255,000	+5,000	$4,105,500	+36.2%	2	$12.41	2.50%
RZLT	Rezolute, Inc. Healthcare	Held	750,000	0	$3,900,000	+70.5%	10	$3.03	2.37%
HRTX	Heron Therapeutics, Inc. Healthcare	Held	8,753,290	0	$3,763,914	−46.3%	15	$2.22	2.29%
VRCA	Verrica Pharmaceuticals Inc. Healthcare	Held	471,559	0	$2,885,941	+15.7%	3	$5.54	1.76%
CCCC	C4 Therapeutics, Inc. Healthcare	NEW	570,000	NEW	$2,661,900	NEW	1	$3.42	1.62%
EPRX	Eupraxia Pharmaceuticals Inc. Healthcare	Held	352,000	0	$2,326,720	−8.7%	4	$5.44	1.42%
ADMA	Adma Biologics, Inc. Healthcare	NEW	250,000	NEW	$2,092,500	NEW	1	$9.12	1.27%
RNTX	Rein Therapeutics, Inc. Healthcare	NEW	1,700,000	NEW	$1,768,000	NEW	1	$1.21	1.08%
LYEL	Lyell Immunopharma, Inc. Healthcare	Added	105,000	+3,000	$1,475,250	−27.9%	2	$23.22	0.90%
NSRX	Nasus Pharma Ltd Healthcare	Held	359,390	0	$1,257,865	+57.7%	2	$5.16	0.77%
PROF	Profound Medical Corp. Healthcare	Reduced	170,278	-115,432	$1,132,348	−38.8%	3	$6.43	0.69%
JSPR	Jasper Therapeutics, Inc. Healthcare	Held	2,668,395	0	$1,123,394	−51.9%	19	before history	0.68%
PTGX	Protagonist Therapeutics, Inc Healthcare	Held	3,700	0	$453,546	+16.3%	5	$47.99	0.28%
CTMX	CytomX Therapeutics, Inc. Healthcare	Reduced	120,000	-420,000	$450,000	−82.3%	7	$4.47	0.27%
NMRA	Neumora Therapeutics, Inc. Healthcare	Added	230,000	+150,000	$391,000	+150.6%	2	$2.14	0.24%
NRIX	Nurix Therapeutics, Inc. Healthcare	Held	16,000	0	$388,160	+56.5%	5	$10.65	0.24%
OVID	Ovid Therapeutics Inc. Healthcare	Reduced	130,000	-30,000	$349,700	−1.5%	7	$0.71	0.21%
DTIL	Precision Biosciences Inc Healthcare	Held	40,000	0	$314,400	+42.9%	4	$4.70	0.19%
MLYS	Mineralys Therapeutics, Inc. Healthcare	Held	11,000	0	$296,780	−0.4%	6	$11.97	0.18%
MGNX	Macrogenics Inc Healthcare	Added	60,000	+30,000	$277,200	+219.7%	2	$2.96	0.17%
CRBP	Corbus Pharmaceuticals Holdings, Inc. Healthcare	Held	26,000	0	$243,880	−0.1%	8	$26.43	0.15%
ARTV	Artiva Biotherapeutics, Inc. Healthcare	Held	25,000	0	$242,500	+50.6%	2	$4.95	0.15%
REPL	Replimune Group, Inc. Healthcare	Held	20,000	0	$221,400	+44.7%	7	$11.01	0.13%
SNDX	Syndax Pharmaceuticals Inc Healthcare	Held	10,000	0	$218,600	−6.4%	4	$13.09	0.13%
IMNM	Immunome Inc. Healthcare	Held	10,000	0	$211,900	−3.1%	4	$9.95	0.13%
TECX	Tectonic Therapeutic, Inc. Healthcare	NEW	6,000	NEW	$206,280	NEW	1	$29.38	0.13%
RCKT	Rocket Pharmaceuticals, Inc. Healthcare	Reduced	60,000	-234,643	$205,200	−80.5%	2	$3.97	0.12%
KPTI	Karyopharm Therapeutics Inc. Healthcare	Added	20,000	+5,000	$195,400	+133.9%	2	$7.89	0.12%
ANTX	AN2 Therapeutics, Inc. Healthcare	NEW	40,000	NEW	$193,600	NEW	1	$4.30	0.12%
VRDN	Viridian Therapeutics, Inc.\DE Healthcare	Reduced	10,000	-81,123	$183,700	−89.7%	5	$14.39	0.11%
SCYX	Scynexis Inc Healthcare	NEW	40,000	NEW	$162,800	NEW	1	unpriced	0.10%
QNRX	Quoin Pharmaceuticals Ltd. Healthcare	Reduced	32,372	-52,477	$156,680	−72.0%	2	$9.06	0.10%
XLO	Xilio Therapeutics, Inc. Healthcare	Held	14,285	0	$136,850	+13.9%	3	unpriced	0.08%
NSPR	InspireMD, Inc. Healthcare	Reduced	148,138	-1,951,514	$103,696	−97.0%	13	$2.07	0.06%
KLRS	Kalaris Therapeutics, Inc. Healthcare	Added	25,000	+7,000	$101,750	−2.0%	2	$7.84	0.06%
LRMR	Larimar Therapeutics, Inc. Healthcare	Held	33,000	0	$100,650	−32.2%	7	$4.91	0.06%
PRQR	ProQR Therapeutics N.V. Healthcare	Held	45,000	0	$83,700	+14.8%	7	$3.07	0.05%
CNTX	Context Therapeutics Inc. Healthcare	Reduced	59,700	-40,300	$33,073	−87.4%	9	$1.62	0.02%
GOSS	Gossamer Bio, Inc. Healthcare	Held	70,000	0	$11,550	−49.8%	7	$0.86	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.