Vault-13

KALVISTA PHARMACEUTICALS INC KALV

COM · Common Stock · CUSIP 483497103

162 institutional holders +17 vs Q3 2025
66,964,09167.0m shares reported held*
$1.1bnreported value*
31 new 55 added 48 reduced 19 sold out net bought ≈ $101.6m (+6.3m 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 ($57.6k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $16.15. Options: 5 managers hold calls ($6.4m notional), 2 hold puts ($235.8k).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 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: 145Q4 25: 162162Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025162

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 79 bought or addedQ1 24: 45 cut or sold outQ2 24: 61 bought or addedQ2 24: 61 cut or sold outQ2 24Q3 24: 65 bought or addedQ3 24: 44 cut or sold outQ4 24: 69 bought or addedQ4 24: 48 cut or sold outQ4 24Q1 25: 67 bought or addedQ1 25: 57 cut or sold outQ2 25: 83 bought or addedQ2 25: 50 cut or sold outQ2 25Q3 25: 80 bought or addedQ3 25: 60 cut or sold outQ4 25: 86 bought or addedQ4 25: 67 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20247945
Q2 20246161
Q3 20246544
Q4 20246948
Q1 20256757
Q2 20258350
Q3 20258060
Q4 20258667

Calls vs puts

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

CallsPuts
$0$5m$10m$15m$20mQ1 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 0.75Q4 25 calls: $6.4mQ4 25 puts: $235.8kQ4 25P/C 0.04
Numbers
QuarterCallsPutsP/C
Q1 2025$15.8m$69.2k0.00
Q2 2025$12.4m$1.0m0.08
Q3 2025$14.1m$10.6m0.75
Q4 2025$6.4m$235.8k0.04

Biggest buyers

Point72 Asset Management, L.P. New +2,283,766+2.3m
Kynam Capital Management, LP Added +1,204,783+1.2m
Vestal Point Capital, LP Added +1,140,000+1.1m
SILVERARC CAPITAL MANAGEMENT, LLC Added +1,063,740+1.1m
MILLENNIUM MANAGEMENT LLC Added +800,443+800.4k
ARMISTICE CAPITAL, LLC New +800,000+800.0k
GREAT POINT PARTNERS LLC New +685,632+685.6k
BlackRock, Inc. Added +628,031+628.0k
ORBIMED ADVISORS LLC New +382,400+382.4k
STATE STREET CORP Added +336,195+336.2k

Biggest sellers

GOLDMAN SACHS GROUP INC Reduced -964,877-964.9k
Sio Capital Management, LLC Sold out -683,819-683.8k
TANG CAPITAL MANAGEMENT LLC Reduced -468,268-468.3k
MARSHALL WACE, LLP Sold out -370,773-370.8k
Capital World Investors Reduced -369,004-369.0k
Qube Research & Technologies Ltd Sold out -325,435-325.4k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -321,444-321.4k
Jefferies Financial Group Inc. Sold out -286,875-286.9k
CITIGROUP INC Reduced -269,885-269.9k
SummitTX Capital, L.P. Sold out -143,561-143.6k

Biggest calls

SILVERARC CAPITAL MANAGEMENT, LLC New $4.7m290.6k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $867.3k53.7k shares
CITADEL ADVISORS LLC New $452.2k28.0k shares
MILLENNIUM MANAGEMENT LLC Added $379.5k23.5k shares
GROUP ONE TRADING LLC Reduced $4.8k300 shares

Biggest puts

JANE STREET GROUP, LLC New $234.2k14.5k shares
GROUP ONE TRADING LLC Reduced $1.6k100 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), Vestal Point Capital, LP (1.5%, 2025-11-14)

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Venrock Adviser, LLC 5.37% of their portfolio NEW YORK, NY 6,728,9856.7m $108.7m $108.7m 5.37% Unchanged
2 Frazier Life Sciences Management, L.P. 2.19% of their portfolio PALO ALTO, CA 5,039,8675.0m $81.4m $81.4m 2.19% Unchanged
3 MONTANOVA CAPITAL, LLC 1.92% of their portfolio New York, NY 4,768,7124.8m $77.0m $77.0m 1.92% Unchanged
4 TANG CAPITAL MANAGEMENT LLC 3.65% of their portfolio SAN DIEGO, CA 4,573,5304.6m $73.9m $73.9m 3.65% Reduced -468.3k -468,268
5 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,754,1483.8m $60.6m $60.6m 0.00% Added +628.0k +628,031
6 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 2,896,6662.9m $46.8m $46.8m 0.03% Added +800.4k +800,443
7 Capital World Investors 0.01% of their portfolio LOS ANGELES, CA 2,808,5832.8m $45.4m $45.4m 0.01% Reduced -369.0k -369,004
8 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 2,509,0202.5m $40.5m $40.5m 0.00% Added +7.9k +7,901
9 SILVERARC CAPITAL MANAGEMENT, LLC 5.67% of their portfolio BOSTON, MA 2,427,1182.4m $39.2m $39.2m 5.67% Added +1.1m +1,063,740
10 Point72 Asset Management, L.P. 0.06% of their portfolio STAMFORD, CT 2,283,7662.3m $36.9m $36.9m 0.06% New
11 Woodline Partners LP 0.12% of their portfolio San Francisco, CA 1,921,0921.9m $31.0m $31.0m 0.12% Added +428 +428
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,911,6911.9m $30.9m $30.9m 0.00% Added +336.2k +336,195
13 Vestal Point Capital, LP 1.12% of their portfolio NEW YORK, NY 1,890,0001.9m $30.5m $30.5m 1.12% Added +1.1m +1,140,000
14 Kynam Capital Management, LP 1.90% of their portfolio PRINCETON, NJ 1,810,9541.8m $29.2m $29.2m 1.90% Added +1.2m +1,204,783
15 Parkman Healthcare Partners LLC 2.72% of their portfolio STAMFORD, CT 1,768,5081.8m $28.6m $28.6m 2.72% Added +33.5k +33,505
16 EMERALD ADVISERS, LLC 0.67% of their portfolio LEOLA, PA 1,340,4951.3m $21.6m $21.6m 0.67% Reduced -10.8k -10,759
17 Octagon Capital Advisors LP 2.57% of their portfolio NEW YORK, NY 1,273,3331.3m $20.6m $20.6m 2.57% Unchanged
18 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 1,171,7551.2m $18.9m $18.9m 0.01% Added +13.3k +13,298
19 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 944,077944.1k $15.3m $15.3m 0.00% Added +15.4k +15,406
20 EMERALD MUTUAL FUND ADVISERS TRUST 0.67% of their portfolio LEOLA, PA 855,461855.5k $13.8m $13.8m 0.67% Reduced -62.5k -62,514
21 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 835,304835.3k $13.5m $13.5m 0.00% Reduced -964.9k -964,877
22 Elmind Capital, LP 3.82% of their portfolio NEW YORK, NY 801,300801.3k $12.9m $12.9m 3.82% First filing
23 ARMISTICE CAPITAL, LLC 0.32% of their portfolio NEW YORK, NY 800,000800.0k $12.9m $12.9m 0.32% New
24 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 700,573700.6k $11.3m $11.3m 0.00% Added +122.7k +122,669
25 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 700,228700.2k $11.3m $11.3m 0.00% Added +135.4k +135,372
26 Squadron Capital Management LLC 5.04% of their portfolio OAK BROOK, IL 700,000700.0k $11.3m $11.3m 5.04% First filing
27 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 695,175695.2k $11.2m $11.2m 0.00% Added +98.7k +98,701
28 GREAT POINT PARTNERS LLC 3.59% of their portfolio Greenwich, CT 685,632685.6k $11.1m $11.1m 3.59% New
29 Freestone Grove Partners LP 0.07% of their portfolio San Francisco, CA 633,019633.0k $10.2m $10.2m 0.07% Reduced -71.4k -71,429
30 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 389,813389.8k $6.3m $6.3m 0.00% Added +25.4k +25,404
31 Spruce Street Capital LP 2.07% of their portfolio NEW YORK, NY 387,968388.0k $6.3m $6.3m 2.07% First filing
32 ORBIMED ADVISORS LLC 0.13% of their portfolio New York, NY 382,400382.4k $6.2m $6.2m 0.13% New
33 UBS Group AG 0.00% of their portfolio ZURICH, V8 371,993372.0k $6.0m $6.0m 0.00% Reduced -82.2k -82,155
34 Blue Owl Capital Holdings LP 1.79% of their portfolio New York, NY 360,000360.0k $5.8m $5.8m 1.79% Added +235.0k +235,000
35 DAFNA Capital Management LLC 1.34% of their portfolio LOS ANGELES, CA 356,802356.8k $5.8m $5.8m 1.34% Reduced -65.9k -65,929
36 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 351,973352.0k $5.7m $5.7m 0.00% Added +1.2k +1,250
37 Skandinaviska Enskilda Banken AB (publ) 0.02% of their portfolio STOCKHOLM, V7 351,305351.3k $5.7m $5.7m 0.02% Added +150.3k +150,314
38 Hennion & Walsh Asset Management, Inc. 0.19% of their portfolio Parsippany, NJ 341,819341.8k $5.5m $5.5m 0.19% Added +165.2k +165,236
39 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 324,369324.4k $5.2m $5.2m 0.00% Added +2.4k +2,402
40 Schonfeld Strategic Advisors LLC 0.02% of their portfolio NEW YORK, NY 305,880305.9k $4.9m $4.9m 0.02% Reduced -140.5k -140,492
41 HRT FINANCIAL LP 0.02% of their portfolio NEW YORK, NY 287,052287.1k $4.6m $4.6m 0.02% New
42 Atom Investors LP 0.35% of their portfolio AUSTIN, TX 276,113276.1k $4.5m $4.5m 0.35% New
43 F/m Investments LLC 0.15% of their portfolio WASHINGTON, DC 236,690236.7k $3.8m $3.8m 0.15% Added +37.5k +37,486
44 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 165,151165.2k $2.7m $2.7m 0.00% New
45 NAN FUNG TRINITY (HK) LTD 0.20% of their portfolio CENTRAL, HONG KONG, K3 154,522154.5k $2.5m $2.5m 0.20% Unchanged
46 NEXTBio Capital Management LP 1.25% of their portfolio AUSTIN, TX 131,796131.8k $2.1m $2.1m 1.25% First filing
47 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 129,517129.5k $2.1m $2.1m 0.00% Reduced -19.8k -19,789
48 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 122,379122.4k $2.0m $2.0m 0.00% Reduced -3.7k -3,673
49 Caption Management, LLC 0.08% of their portfolio OKLAHOMA CITY, OK 117,907117.9k $1.9m $1.9m 0.08% Reduced -23.5k -23,515
50 FMR LLC 0.00% of their portfolio BOSTON, MA 111,807111.8k $1.8m $1.8m 0.00% Added +19.4k +19,439
51 PANAGORA ASSET MANAGEMENT INC 0.01% of their portfolio BOSTON, MA 109,391109.4k $1.8m $1.8m 0.01% Reduced -87.9k -87,944
52 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 107,129107.1k $1.7m $1.7m 0.00% Added +27.4k +27,371
53 Jump Financial, LLC 0.02% of their portfolio Chicago, IL 90,74290.7k $1.5m $1.5m 0.02% New
54 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 77,86477.9k $1.3m $1.3m 0.00% Added +14.6k +14,621
55 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 71,89571.9k $1.2m $1.2m 0.00% Reduced -321.4k -321,444
56 Rafferty Asset Management, LLC 0.00% of their portfolio New York, NY 65,59365.6k $1.1m $1.1m 0.00% Added +7.8k +7,803
57 Brevan Howard Capital Management LP 0.02% of their portfolio ST. HELIER, Y9 59,14759.1k $955.2k $955.2k 0.02% Added +3.3k +3,269
58 Birchview Capital, LP 0.54% of their portfolio BURLINGTON, VT 57,00057.0k $920.5k $920.5k 0.54% Reduced -10.0k -10,000
59 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 56,24956.2k $908.4k $908.4k 0.00% Added +53 +53
60 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 56,01456.0k $904.6k $904.6k 0.00% Added +18.8k +18,770
61 Swiss National Bank 0.00% of their portfolio ZURICH, V8 54,90054.9k $886.6k $886.6k 0.00% Added +6.4k +6,400
62 AlphaQuest LLC 0.05% of their portfolio New York, NY 52,19052.2k $842.9k $842.9k 0.05% Added +415 +415
63 Seven Fleet Capital Management LP 0.53% of their portfolio MOUNTAIN VIEW, CA 48,41248.4k $781.9k $781.9k 0.53% First filing
64 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 48,03048.0k $776.0k $776.0k 0.00% Added +6.4k +6,410
65 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 47,39147.4k $765.4k $765.4k 0.00% Reduced -5.4k -5,407
66 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 44,08244.1k $711.9k $711.9k 0.00% Added +6.0k +6,050
67 ALPS ADVISORS INC 0.00% of their portfolio Denver, CO 41,50441.5k $670.3k $670.3k 0.00% New
68 Virtus Investment Advisers, LLC 0.18% of their portfolio HARTFORD, CT 40,41440.4k $652.7k $652.7k 0.18% Added +31.7k +31,721
69 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 40,02040.0k $646.3k $646.3k 0.00% Unchanged
70 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 37,76137.8k $609.8k $609.8k 0.00% New
71 Ikarian Capital, LLC 0.07% of their portfolio DALLAS, TX 35,11935.1k $567.2k $567.2k 0.07% New
72 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 35,09135.1k $566.7k $566.7k 0.00% Added +4.8k +4,836
73 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 34,92934.9k $564.1k $564.1k 0.00% Reduced -520 -520
74 EVOKE WEALTH, LLC 0.01% of their portfolio Los Angeles, CA 31,84131.8k $514.2k $514.2k 0.01% Reduced -212 -212
75 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 31,60831.6k $510.5k $510.5k 0.00% Reduced -5.1k -5,055
76 MARTINGALE ASSET MANAGEMENT L P 0.01% of their portfolio BOSTON, MA 30,93930.9k $499.7k $499.7k 0.01% New
77 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 29,15629.2k $470.9k $470.9k 0.00% Added +15.0k +14,998
78 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 28,41028.4k $458.8k $458.8k 0.00% Added +4.0k +4,024
79 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 27,72227.7k $447.7k $447.7k 0.00% Added +14.1k +14,122
80 XTX Topco Ltd 0.01% of their portfolio LONDON, X0 26,50826.5k $428.1k $428.1k 0.01% New
81 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 24,66624.7k $398.4k $398.4k 0.00% Reduced -19.9k -19,940
82 Rathbones Group PLC 0.00% of their portfolio Liverpool, X0 24,54424.5k $396.4k $396.4k 0.00% Added +6.1k +6,122
83 PROFUND ADVISORS LLC 0.01% of their portfolio BETHESDA, MD 24,39224.4k $393.9k $393.9k 0.01% Added +11.8k +11,779
84 Legal & General Group Plc 0.00% of their portfolio London, X0 23,81823.8k $384.7k $384.7k 0.00% Reduced -136 -136
85 Aquatic Capital Management LLC 0.01% of their portfolio CHICAGO, IL 23,37023.4k $377.4k $377.4k 0.01% New
86 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 23,11823.1k $374.0k $374.0k 0.00% Added +3.1k +3,138
87 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 21,93721.9k $354.3k $354.3k 0.00% Reduced -1.4k -1,424
88 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 21,68821.7k $350.3k $350.3k 0.00% Unchanged
89 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 21,62421.6k $347.4k $347.4k 0.00% Added +1.1k +1,112
90 Boxer Capital Management, LLC 0.07% of their portfolio San Diego, CA 20,40020.4k $329.5k $329.5k 0.07% Unchanged
91 ExodusPoint Capital Management, LP 0.00% of their portfolio NEW YORK, NY 20,06120.1k $324.0k $324.0k 0.00% New
92 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 19,45419.5k $314.2k $314.2k 0.00% Reduced -22.1k -22,064
93 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 17,86817.9k $288.6k $288.6k 0.00% Added +13.3k +13,323
94 Man Group plc 0.00% of their portfolio LONDON, X0 17,44617.4k $281.8k $281.8k 0.00% New
95 IRONWOOD INVESTMENT MANAGEMENT LLC 0.11% of their portfolio BOSTON, MA 16,71116.7k $269.9k $269.9k 0.11% Unchanged
96 Bleakley Financial Group, LLC 0.00% of their portfolio PARSIPPANY, NJ 15,97616.0k $258.0k $258.0k 0.00% New
97 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 15,92315.9k $257.2k $257.2k 0.00% Reduced -50.0k -50,037
98 ALGERT GLOBAL LLC 0.00% of their portfolio SAN FRANCISCO, CA 13,11013.1k $211.7k $211.7k 0.00% New
99 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 12,91912.9k $208.6k $208.6k 0.00% Unchanged
100 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 11,89711.9k $192.1k $192.1k 0.00% Added +1 +1