Vault-13

KALVISTA PHARMACEUTICALS INC KALV

COM · Common Stock · CUSIP 483497103

145 institutional holders +4 vs Q2 2025
58,638,84458.6m shares reported held*
$714.3mreported value*
30 new 50 added 37 reduced 23 sold out net bought ≈ $51.0m (+4.2m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($28.6k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $12.18. Options: 7 managers hold calls ($14.1m notional), 4 hold puts ($10.6m).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 94Q4 22: 91Q1 23: 90Q2 23: 96Q3 23: 102Q4 23: 94Q1 24: 130Q2 24: 120Q3 24: 123Q4 24: 131Q1 25: 129Q2 25: 141Q3 25: 145145Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 202294
Q4 202291
Q1 202390
Q2 202396
Q3 2023102
Q4 202394
Q1 2024130
Q2 2024120
Q3 2024123
Q4 2024131
Q1 2025129
Q2 2025141
Q3 2025145

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q4 23: 54 bought or addedQ4 23: 44 cut or sold outQ1 24: 79 bought or addedQ1 24: 45 cut or sold outQ1 24Q2 24: 61 bought or addedQ2 24: 61 cut or sold outQ3 24: 65 bought or addedQ3 24: 44 cut or sold outQ3 24Q4 24: 69 bought or addedQ4 24: 48 cut or sold outQ1 25: 67 bought or addedQ1 25: 57 cut or sold outQ1 25Q2 25: 83 bought or addedQ2 25: 50 cut or sold outQ3 25: 80 bought or addedQ3 25: 60 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20235444
Q1 20247945
Q2 20246161
Q3 20246544
Q4 20246948
Q1 20256757
Q2 20258350
Q3 20258060

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$5m$10m$15m$20mQ4 24 calls: $115.2kQ4 24 puts: $1.8mQ4 24P/C 15.64Q1 25 calls: $15.8mQ1 25 puts: $69.2kQ1 25P/C 0.00Q2 25 calls: $12.4mQ2 25 puts: $1.0mQ2 25P/C 0.08Q3 25 calls: $14.1mQ3 25 puts: $10.6mQ3 25P/C 0.75
Numbers
QuarterCallsPutsP/C
Q4 2024$115.2k$1.8m15.64
Q1 2025$15.8m$69.2k0.00
Q2 2025$12.4m$1.0m0.08
Q3 2025$14.1m$10.6m0.75

Biggest buyers

MILLENNIUM MANAGEMENT LLC Added +1,755,594+1.8m
GOLDMAN SACHS GROUP INC Added +1,665,783+1.7m
Parkman Healthcare Partners LLC Added +1,055,940+1.1m
Freestone Grove Partners LP New +704,448+704.4k
Sio Capital Management, LLC New +683,819+683.8k
Kynam Capital Management, LP New +606,171+606.2k
SCHRODER INVESTMENT MANAGEMENT GROUP Added +603,499+603.5k
Bank of New York Mellon Corp Added +488,839+488.8k
BARCLAYS PLC Added +408,981+409.0k
MORGAN STANLEY Added +325,227+325.2k

Biggest sellers

Vestal Point Capital, LP Reduced -3,925,000-3.9m
AMERIPRISE FINANCIAL INC Reduced -909,676-909.7k
SILVERARC CAPITAL MANAGEMENT, LLC Reduced -468,793-468.8k
STEMPOINT CAPITAL LP Reduced -330,020-330.0k
GREAT POINT PARTNERS LLC Sold out -323,170-323.2k
First Turn Management, LLC Sold out -214,138-214.1k
Ikarian Capital, LLC Sold out -198,528-198.5k
MONTANOVA CAPITAL, LLC Reduced -186,288-186.3k
DAFNA Capital Management LLC Reduced -159,026-159.0k
Rosalind Advisors, Inc. Sold out -157,725-157.7k

Biggest calls

Caption Management, LLC New $7.1m581.6k shares
Ikarian Capital, LLC Unchanged $4.9m400.0k shares
BOOTHBAY FUND MANAGEMENT, LLC Unchanged $1.7m142.9k shares
MILLENNIUM MANAGEMENT LLC New $243.6k20.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $144.9k11.9k shares
SIMPLEX TRADING, LLC Reduced $24.0k2.0k shares
GROUP ONE TRADING LLC Reduced $11.0k900 shares

Biggest puts

Caption Management, LLC New $10.5m864.6k shares
HAP Trading, LLC First filing $76.5k90.0k shares
SIMPLEX TRADING, LLC Reduced $7.0k600 shares
GROUP ONE TRADING LLC New $4.9k400 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Capital World Investors 13G · institution filed 2025-05-13 6.4% 3.2m 2025-05-13
SILVERARC CAPITAL MANAGEMENT, LLC 13G · institution new · filed 2026-05-13 5.6% new 2.9m 2026-05-13

Fell to 5% or below in the last year: TANG CAPITAL MANAGEMENT LLC (0.0%, 2026-08-14), GLAZER CAPITAL, LLC (4.8%, 2026-06-10), Frazier Life Sciences Public Fund, L.P. (2.3%, 2026-05-21), Point72 Asset Management, L.P. (4.2%, 2026-05-15), MILLENNIUM MANAGEMENT LLC (3.7%, 2026-05-01)

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Venrock Adviser, LLC 4.61% of their portfolio NEW YORK, NY 6,728,9856.7m $82.0m $82.0m 4.61% Unchanged
2 TANG CAPITAL MANAGEMENT LLC 2.36% of their portfolio SAN DIEGO, CA 5,041,7985.0m $61.4m $61.4m 2.36% Added +100.0k +100,000
3 Frazier Life Sciences Management, L.P. 1.84% of their portfolio PALO ALTO, CA 5,039,8675.0m $61.4m $61.4m 1.84% Added +152.0k +152,000
4 MONTANOVA CAPITAL, LLC 1.76% of their portfolio New York, NY 4,768,7124.8m $58.1m $58.1m 1.76% Reduced -186.3k -186,288
5 Capital World Investors 0.01% of their portfolio LOS ANGELES, CA 3,177,5873.2m $38.7m $38.7m 0.01% Unchanged
6 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,126,1173.1m $38.1m $38.1m 0.00% Reduced -3.4k -3,377
7 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 2,501,1192.5m $30.5m $30.5m 0.00% Added +88.7k +88,720
8 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 2,096,2232.1m $25.5m $25.5m 0.02% Added +1.8m +1,755,594
9 Woodline Partners LP 0.11% of their portfolio San Francisco, CA 1,920,6641.9m $23.4m $23.4m 0.11% Unchanged
10 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,800,1811.8m $21.9m $21.9m 0.00% Added +1.7m +1,665,783
11 Parkman Healthcare Partners LLC 2.32% of their portfolio STAMFORD, CT 1,735,0031.7m $21.1m $21.1m 2.32% Added +1.1m +1,055,940
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,575,4961.6m $19.2m $19.2m 0.00% Added +226.0k +225,957
13 SILVERARC CAPITAL MANAGEMENT, LLC 2.40% of their portfolio BOSTON, MA 1,363,3781.4m $16.6m $16.6m 2.40% Reduced -468.8k -468,793
14 EMERALD ADVISERS, LLC 0.53% of their portfolio LEOLA, PA 1,351,2541.4m $16.5m $16.5m 0.53% Added +313.2k +313,205
15 Octagon Capital Advisors LP 2.42% of their portfolio NEW YORK, NY 1,273,3331.3m $15.5m $15.5m 2.42% Unchanged
16 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 1,158,4571.2m $14.1m $14.1m 0.01% Added +603.5k +603,499
17 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 928,671928.7k $11.3m $11.3m 0.00% Reduced -12.5k -12,541
18 EMERALD MUTUAL FUND ADVISERS TRUST 0.58% of their portfolio LEOLA, PA 917,975918.0k $11.2m $11.2m 0.58% Added +149.0k +149,003
19 Vestal Point Capital, LP 0.41% of their portfolio NEW YORK, NY 750,000750.0k $9.1m $9.1m 0.41% Reduced -3.9m -3,925,000
20 Freestone Grove Partners LP 0.06% of their portfolio San Francisco, CA 704,448704.4k $8.6m $8.6m 0.06% New
21 Sio Capital Management, LLC 2.11% of their portfolio NEW YORK, NY 683,819683.8k $8.3m $8.3m 2.11% New
22 Kynam Capital Management, LP 0.55% of their portfolio PRINCETON, NJ 606,171606.2k $7.4m $7.4m 0.55% New
23 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 596,474596.5k $7.3m $7.3m 0.00% Added +488.8k +488,839
24 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 577,904577.9k $7.0m $7.0m 0.00% Added +409.0k +408,981
25 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 564,856564.9k $6.9m $6.9m 0.00% Added +325.2k +325,227
26 UBS Group AG 0.00% of their portfolio ZURICH, V8 454,148454.1k $5.5m $5.5m 0.00% Added +181.3k +181,287
27 Schonfeld Strategic Advisors LLC 0.04% of their portfolio NEW YORK, NY 446,372446.4k $5.4m $5.4m 0.04% Added +301.1k +301,090
28 DAFNA Capital Management LLC 1.27% of their portfolio LOS ANGELES, CA 422,731422.7k $5.1m $5.1m 1.27% Reduced -159.0k -159,026
29 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 393,339393.3k $4.8m $4.8m 0.01% Added +99.1k +99,141
30 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 370,773370.8k $4.5m $4.5m 0.00% Added +251.2k +251,151
31 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 364,409364.4k $4.4m $4.4m 0.00% Reduced -2.6k -2,557
32 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 350,723350.7k $4.3m $4.3m 0.00% Reduced -1.4k -1,429
33 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 325,435325.4k $4.0m $4.0m 0.01% Added +228.2k +228,187
34 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 321,967322.0k $3.9m $3.9m 0.00% Added +208.5k +208,471
35 Jefferies Financial Group Inc. 0.03% of their portfolio NEW YORK, NY 286,875286.9k $3.5m $3.5m 0.03% New
36 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 280,656280.7k $3.4m $3.4m 0.00% Reduced -18.5k -18,538
37 Skandinaviska Enskilda Banken AB (publ) 0.01% of their portfolio STOCKHOLM, V7 200,991201.0k $2.4m $2.4m 0.01% Added +160.1k +160,128
38 F/m Investments LLC 0.09% of their portfolio WASHINGTON, DC 199,204199.2k $2.4m $2.4m 0.09% Added +16.9k +16,942
39 PANAGORA ASSET MANAGEMENT INC 0.01% of their portfolio BOSTON, MA 197,335197.3k $2.4m $2.4m 0.01% Reduced -95.3k -95,258
40 Hennion & Walsh Asset Management, Inc. 0.08% of their portfolio Parsippany, NJ 176,583176.6k $2.2m $2.2m 0.08% Added +20.6k +20,622
41 NAN FUNG TRINITY (HK) LTD 0.19% of their portfolio CENTRAL, HONG KONG, K3 154,522154.5k $1.9m $1.9m 0.19% Unchanged
42 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 149,306149.3k $1.8m $1.8m 0.00% Added +48.3k +48,271
43 SummitTX Capital, L.P. 0.07% of their portfolio FORT WORTH, TX 143,561143.6k $1.7m $1.7m 0.07% New
44 Caption Management, LLC 0.10% of their portfolio OKLAHOMA CITY, OK 141,422141.4k $1.7m $1.7m 0.10% New
45 Susquehanna Portfolio Strategies, LLC 0.02% of their portfolio Bala Cynwyd, PA 128,011128.0k $1.6m $1.6m 0.02% Added +35.8k +35,752
46 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 126,052126.1k $1.5m $1.5m 0.00% Reduced -6.8k -6,848
47 Blue Owl Capital Holdings LP 0.47% of their portfolio New York, NY 125,000125.0k $1.5m $1.5m 0.47% New
48 BOOTHBAY FUND MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 107,283107.3k $1.3m $1.3m 0.03% Reduced -41.6k -41,644
49 FMR LLC 0.00% of their portfolio BOSTON, MA 92,36892.4k $1.1m $1.1m 0.00% Reduced -41.2k -41,198
50 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 79,75879.8k $971.5k $971.5k 0.00% Added +11.2k +11,219
51 Birchview Capital, LP 0.62% of their portfolio BURLINGTON, VT 67,00067.0k $816.1k $816.1k 0.62% Unchanged
52 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 65,96066.0k $803.4k $803.4k 0.00% Reduced -7.4k -7,383
53 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 63,24363.2k $770.3k $770.3k 0.00% Added +12.5k +12,482
54 Rafferty Asset Management, LLC 0.00% of their portfolio New York, NY 57,79057.8k $703.9k $703.9k 0.00% Added +10.9k +10,889
55 STEMPOINT CAPITAL LP 0.14% of their portfolio NEW YORK, NY 56,77056.8k $691.5k $691.5k 0.14% Reduced -330.0k -330,020
56 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 56,19656.2k $684.5k $684.5k 0.00% Added +3.1k +3,127
57 Brevan Howard Capital Management LP 0.01% of their portfolio ST. HELIER, Y9 55,87855.9k $680.6k $680.6k 0.01% Added +42.5k +42,545
58 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 52,79852.8k $643.1k $643.1k 0.00% Reduced -1.6k -1,578
59 AlphaQuest LLC 0.04% of their portfolio New York, NY 51,77551.8k $630.6k $630.6k 0.04% Added +51.6k +51,644
60 Swiss National Bank 0.00% of their portfolio ZURICH, V8 48,50048.5k $590.7k $590.7k 0.00% New
61 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 45,44445.4k $553.5k $553.5k 0.00% Reduced -127.8k -127,765
62 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 44,60644.6k $543.3k $543.3k 0.00% Reduced -2.8k -2,807
63 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 41,62041.6k $507.0k $507.0k 0.00% New
64 Artia Global Partners LP 0.09% of their portfolio MIAMI, FL 41,55541.6k $506.1k $506.1k 0.09% New
65 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 41,51841.5k $505.7k $505.7k 0.00% Added +18.3k +18,300
66 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 40,02040.0k $487.4k $487.4k 0.00% Unchanged
67 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 38,03238.0k $463.2k $463.2k 0.00% Added +4.7k +4,652
68 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 37,24437.2k $453.6k $453.6k 0.00% Added +11.9k +11,920
69 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 36,66336.7k $446.6k $446.6k 0.00% Reduced -18.2k -18,247
70 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 35,44935.4k $431.8k $431.8k 0.00% Reduced -909.7k -909,676
71 EVOKE WEALTH, LLC 0.01% of their portfolio Los Angeles, CA 32,05332.1k $390.4k $390.4k 0.01% Reduced -128 -128
72 HAP Trading, LLC 0.10% of their portfolio NEW YORK, NY 31,21931.2k $380.2k $380.2k 0.10% First filing
73 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 30,25530.3k $368.5k $368.5k 0.00% Added +1.8k +1,781
74 Magnetar Financial LLC 0.00% of their portfolio EVANSTON, IL 26,92426.9k $327.9k $327.9k 0.00% New
75 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 24,38624.4k $297.0k $297.0k 0.00% Added +21.9k +21,875
76 Legal & General Group Plc 0.00% of their portfolio London, X0 23,95424.0k $291.8k $291.8k 0.00% Added +19.8k +19,752
77 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 23,36123.4k $285.2k $285.2k 0.00% Added +1.4k +1,446
78 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 21,68821.7k $264.2k $264.2k 0.00% Unchanged
79 CAPSTONE INVESTMENT ADVISORS, LLC 0.00% of their portfolio NEW YORK, NY 21,42121.4k $260.9k $260.9k 0.00% New
80 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 21,37221.4k $260.0k $260.0k 0.00% Reduced -107.2k -107,216
81 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 21,10021.1k $257.0k $257.0k 0.00% Reduced -4.6k -4,620
82 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 20,51220.5k $249.9k $249.9k 0.00% Reduced -2.5k -2,452
83 Boxer Capital Management, LLC 0.08% of their portfolio San Diego, CA 20,40020.4k $248.5k $248.5k 0.08% Reduced -73.0k -73,000
84 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 19,98020.0k $244.0k $244.0k 0.00% Added +2.1k +2,116
85 Rathbones Group PLC 0.00% of their portfolio Liverpool, X0 18,42218.4k $224.4k $224.4k 0.00% Reduced -600 -600
86 AXQ CAPITAL, LP 0.08% of their portfolio JERSEY CITY, NJ 17,21317.2k $209.7k $209.7k 0.08% New
87 DRW Securities, LLC 0.01% of their portfolio CHICAGO, IL 16,77516.8k $196.0k $196.0k 0.01% New
88 IRONWOOD INVESTMENT MANAGEMENT LLC 0.09% of their portfolio BOSTON, MA 16,71116.7k $203.5k $203.5k 0.09% Unchanged
89 SHERBROOKE PARK ADVISERS LLC 0.09% of their portfolio WHITE PLAINS, NY 15,67815.7k $191.0k $191.0k 0.09% New
90 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 14,15814.2k $172.4k $172.4k 0.00% New
91 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 13,60013.6k $165.6k $165.6k 0.00% New
92 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 13,28813.3k $161.8k $161.8k 0.00% Reduced -1.3k -1,338
93 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 12,91912.9k $157.4k $157.4k 0.00% Reduced -4.8k -4,752
94 PROFUND ADVISORS LLC 0.00% of their portfolio BETHESDA, MD 12,61312.6k $153.6k $153.6k 0.00% Added +2.6k +2,593
95 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 11,89611.9k $144.9k $144.9k 0.00% New
96 Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio TRENTON, NJ 11,17211.2k $136.1k $136.1k 0.00% Added +1.4k +1,416
97 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 10,90010.9k $132.9k $132.9k 0.00% New
98 SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.01% of their portfolio BALA CYNWYD, PA 10,68610.7k $130.2k $130.2k 0.01% Reduced -18.2k -18,198
99 Choate Investment Advisors 0.00% of their portfolio BOSTON, MA 10,00010.0k $121.8k $121.8k 0.00% Unchanged
100 ADAR1 Capital Management, LLC 0.01% of their portfolio AUSTIN, TX 10,00010.0k $121.8k $121.8k 0.01% Unchanged