Velan Capital Investment Management LP

Q4 2025 13F-HR Holdings

Location
Alpharetta, GA
Holdings as of
12/31/2025
Date filed
2/13/2026
Form type
13F-HR
Num holdings
46
Total value ($000)
$172,379
Net value change ($000)
+65,914 (61.9%)
New positions
8
Sold out positions
12
Turnover %
29.0%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
PRAX 22,665 322.0%
CDTX 13,564 130.7%
MPLT 9,174 NEW
EVMN 8,676 NEW
TARA 5,804 62.4%
ESPR 4,477 NEW
VRCA 3,919 NEW
STRO 3,610 NEW
ABVX 3,568 65.3%
TERN 2,678 1785.3%
Top Reduces (Value $000, Stocks/ETFs)
RZLT -5,280 -74.9%
ZOOZ -4,280 -100.0%
ALMS -3,777 -100.0%
STRO -2,709 -100.0%
QURE -1,868 -100.0%
NSPR -1,350 -26.1%
JSPR -1,323 -21.3%
MLYS -1,179 -17.7%
TELA -1,114 -100.0%
ELDN -899 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 482 (0.3% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type