Velan Capital Investment Management LP

CIK

1848809

Location

ALPHARETTA, GA

Portfolio Value

Small $159,367,748

Diversification

Diversified

Filing Date

Global Rank

#4,705 / 8,586 ▲ 364

Top Industry

Biotechnology 90.8%

3Y Alpha vs SPY

+1.4%

Period ended 3 months ago

Filed May 15, 2026 · 32d

18 quarters · since Dec 2021

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+84.5%

SPY

+78.1%

Annualised alpha

+1.4%

Max drawdown

−54.1%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

47 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

20.4%

−0.1 pts

Top 5

50.4%

−0.8 pts

Top 10

73.2%

+2.2 pts

HHI

797

Diversified−7

Portfolio Trend

18 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$159,367,748	47

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

12 positions

Ticker	Company	Δ Shares	Shares	Value
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

7 positions

Ticker	Company	Δ Shares	Shares	Value
KZIA	Kazia Therapeutics Ltd	−164,685	135,315	$1,006,743
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

10 positions

Ticker	Company	Shares	Value
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
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

5 positions

Ticker	Company	Shares	Value
LNTH	Lantheus Holdings, Inc.	74,687	$4,970,419
TERN	Terns Pharmaceuticals, Inc.	70,000	$2,828,000
TRVI	Trevi Therapeutics, Inc.	205,000	$2,566,600
XLO	Xilio Therapeutics, Inc.	170,000	$1,523,200
PYXS	Pyxis Oncology, Inc.	40,000	$46,000
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

47 positions · $159,367,748 total · as of Mar 31, 2026

All sectors Healthcare

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
GOSS	Gossamer Bio, Inc. Healthcare	Held	70,000	0	$23,030	−89.4%	0.01%
PRQR	ProQR Therapeutics N.V. Healthcare	Held	45,000	0	$72,900	−19.8%	0.05%
KPTI	Karyopharm Therapeutics Inc. Healthcare	NEW	15,000	NEW	$83,550	NEW	0.05%
MGNX	Macrogenics Inc Healthcare	NEW	30,000	NEW	$86,700	NEW	0.05%
PMVP	PMV Pharmaceuticals, Inc. Healthcare	Added	73,000	+38,000	$90,520	+106.9%	0.06%
KLRS	Kalaris Therapeutics, Inc. Healthcare	NEW	18,000	NEW	$103,860	NEW	0.07%
LRMR	Larimar Therapeutics, Inc. Healthcare	Held	33,000	0	$148,500	+18.1%	0.09%
REPL	Replimune Group, Inc. Healthcare	Added	20,000	+5,000	$153,000	+4.9%	0.10%
ARTV	Artiva Biotherapeutics, Inc. Healthcare	NEW	25,000	NEW	$161,000	NEW	0.10%
DSGN	Design Therapeutics, Inc. Healthcare	Held	20,000	0	$212,800	+13.4%	0.13%
IMNM	Immunome Inc. Healthcare	Held	10,000	0	$218,700	+1.8%	0.14%
DTIL	Precision Biosciences Inc Healthcare	Added	40,000	+20,000	$220,000	+164.4%	0.14%
SNDX	Syndax Pharmaceuticals Inc Healthcare	Reduced	10,000	-120,000	$233,600	−91.4%	0.15%
CRBP	Corbus Pharmaceuticals Holdings, Inc. Healthcare	Added	26,000	+13,000	$244,140	+130.7%	0.15%
NRIX	Nurix Therapeutics, Inc. Healthcare	Held	16,000	0	$248,000	−18.3%	0.16%
CNTX	Context Therapeutics Inc. Healthcare	Held	100,000	0	$262,000	+78.2%	0.16%
MLYS	Mineralys Therapeutics, Inc. Healthcare	Reduced	11,000	-140,000	$297,990	−94.6%	0.19%
OVID	Ovid Therapeutics Inc. Healthcare	Held	160,000	0	$355,200	+36.2%	0.22%
PTGX	Protagonist Therapeutics, Inc Healthcare	Held	3,700	0	$389,980	+20.7%	0.24%
ARWR	Arrowhead Pharmaceuticals, Inc. Healthcare	Held	6,500	0	$407,550	−5.6%	0.26%
QNRX	Quoin Pharmaceuticals, Ltd. Healthcare	NEW	84,849	NEW	$560,003	NEW	0.35%
NSRX	Nasus Pharma Ltd Healthcare	NEW	359,390	NEW	$797,845	NEW	0.50%
KZIA	Kazia Therapeutics Ltd Healthcare	Reduced	135,315	-164,685	$1,006,743	−51.3%	0.63%
RCKT	Rocket Pharmaceuticals, Inc. Healthcare	NEW	294,643	NEW	$1,054,821	NEW	0.66%
VRDN	Viridian Therapeutics, Inc.DE Healthcare	Added	91,123	+4,623	$1,782,365	−33.8%	1.12%
PROF	Profound Medical Corp. Healthcare	Held	285,710	0	$1,851,400	−17.7%	1.16%
LYEL	Lyell Immunopharma, Inc. Healthcare	NEW	102,000	NEW	$2,046,120	NEW	1.28%
RZLT	Rezolute, Inc. Healthcare	Held	750,000	0	$2,287,500	+29.2%	1.44%
JSPR	Jasper Therapeutics, Inc. Healthcare	Held	2,668,395	0	$2,337,513	−52.1%	1.47%
VRCA	Verrica Pharmaceuticals Inc. Healthcare	Held	471,559	0	$2,494,547	−36.3%	1.57%
CTMX	CytomX Therapeutics, Inc. Healthcare	Added	540,000	+460,000	$2,538,000	+644.7%	1.59%
EPRX	Eupraxia Pharmaceuticals Inc. Healthcare	Held	352,000	0	$2,548,480	−4.1%	1.60%
AVTX	Avalo Therapeutics, Inc. Healthcare	Reduced	185,122	-78,520	$2,763,871	−42.3%	1.73%
XNCR	Xencor Inc Healthcare	NEW	250,000	NEW	$3,015,000	NEW	1.89%
NSPR	InspireMD, Inc. Healthcare	Reduced	2,099,652	-44,046	$3,422,432	−10.3%	2.15%
AVR	Anteris Technologies Global Corp. Healthcare	NEW	700,000	NEW	$3,885,000	NEW	2.44%
EDSA	Edesa Biotech, Inc. Healthcare	Added	827,500	+140,000	$4,327,825	+343.3%	2.72%
ESPR	Esperion Therapeutics, Inc. Healthcare	Added	1,720,000	+510,000	$4,712,800	+5.3%	2.96%
IMMX	Immix Biopharma, Inc. Healthcare	Added	740,000	+705,000	$6,741,400	+3582.8%	4.23%
HRTX	Heron Therapeutics, Inc. /De/ Healthcare	Held	8,753,290	0	$7,002,632	−38.5%	4.39%
ABVX	Abivax S.A. Healthcare	Added	77,000	+10,000	$8,573,950	−5.1%	5.38%
TENX	Tenax Therapeutics, Inc. Healthcare	Added	583,333	+500,000	$9,327,494	+818.2%	5.85%
MPLT	MapLight Therapeutics, Inc. Healthcare	Reduced	492,893	-29,412	$10,020,514	+9.2%	6.29%
EVMN	Evommune, Inc. Healthcare	Reduced	446,255	-60,499	$10,259,402	+18.3%	6.44%
STRO	Sutro Biopharma, Inc. Healthcare	Added	512,160	+200,160	$12,757,905	+253.4%	8.01%
TARA	Protara Therapeutics, Inc. Healthcare	Held	2,834,652	0	$14,768,536	−2.3%	9.27%
PRAX	Praxis Precision Medicines, Inc. Healthcare	Held	100,781	0	$32,470,630	+9.3%	20.37%