Vault-13

KALVISTA PHARMACEUTICALS INC KALV

COM · Common Stock · CUSIP 483497103

184 institutional holders +22 vs Q4 2025
69,257,32269.3m shares reported held*
$1.4bnreported value*
34 new 64 added 45 reduced 16 sold out net bought ≈ $39.3m (+2.0m 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 ($106.4k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $20.13. Options: 7 managers hold calls ($39.1m notional), 5 hold puts ($21.2m).

Trends to Q1 2026

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: 162Q1 26: 184184Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q1 2026184

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q2 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 25Q4 25: 86 bought or addedQ4 25: 67 cut or sold outQ1 26: 98 bought or addedQ1 26: 61 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20246161
Q3 20246544
Q4 20246948
Q1 20256757
Q2 20258350
Q3 20258060
Q4 20258667
Q1 20269861

Calls vs puts

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

CallsPuts
$0$10m$20m$30m$40mQ2 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 0.04Q1 26 calls: $39.1mQ1 26 puts: $21.2mQ1 26P/C 0.54
Numbers
QuarterCallsPutsP/C
Q2 2025$12.4m$1.0m0.08
Q3 2025$14.1m$10.6m0.75
Q4 2025$6.4m$235.8k0.04
Q1 2026$39.1m$21.2m0.54

Biggest buyers

Driehaus Capital Management LLC New +564,039+564.0k
Spruce Street Capital LP Added +509,713+509.7k
SILVERARC CAPITAL MANAGEMENT, LLC Added +449,289+449.3k
ARMISTICE CAPITAL, LLC Added +436,000+436.0k
Catalio Capital Management, LP New +426,551+426.6k
Jefferies Financial Group Inc. New +286,046+286.0k
Squadron Capital Management LLC Added +285,100+285.1k
Ishara Investments LP New +276,750+276.8k
Freestone Grove Partners LP Added +249,887+249.9k
CITIGROUP INC Added +233,490+233.5k

Biggest sellers

MILLENNIUM MANAGEMENT LLC Reduced -984,520-984.5k
SCHRODER INVESTMENT MANAGEMENT GROUP Reduced -665,012-665.0k
Woodline Partners LP Reduced -411,172-411.2k
Skandinaviska Enskilda Banken AB (publ) Sold out -351,305-351.3k
ORBIMED ADVISORS LLC Reduced -288,000-288.0k
MORGAN STANLEY Reduced -261,129-261.1k
Venrock Adviser, LLC Reduced -254,500-254.5k
RENAISSANCE TECHNOLOGIES LLC Sold out -165,151-165.2k
BARCLAYS PLC Reduced -163,512-163.5k
Point72 Asset Management, L.P. Reduced -146,826-146.8k

Biggest calls

Caption Management, LLC New $28.8m1.4m shares
Squadron Capital Management LLC New $6.3m315.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.8m89.9k shares
CITADEL ADVISORS LLC Added $1.4m71.7k shares
JANE STREET GROUP, LLC New $491.2k24.4k shares
SIMPLEX TRADING, LLC New $199.3k9.9k shares
Walleye Capital LLC New $44.3k2.2k shares

Biggest puts

Caption Management, LLC New $20.1m1.0m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP New $477.1k23.7k shares
SIMPLEX TRADING, LLC New $310.0k15.4k shares
JANE STREET GROUP, LLC Reduced $259.7k12.9k shares
Walleye Capital LLC New $28.2k1.4k 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, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Venrock Adviser, LLC 4.86% of their portfolio NEW YORK, NY 6,474,4856.5m $130.3m $130.3m 4.86% Reduced -254.5k -254,500
2 Frazier Life Sciences Management, L.P. 2.57% of their portfolio PALO ALTO, CA 4,961,1085.0m $99.9m $99.9m 2.57% Reduced -78.8k -78,759
3 MONTANOVA CAPITAL, LLC 2.60% of their portfolio New York, NY 4,768,7124.8m $96.0m $96.0m 2.60% Unchanged
4 TANG CAPITAL MANAGEMENT LLC 4.68% of their portfolio SAN DIEGO, CA 4,573,5304.6m $92.1m $92.1m 4.68% Unchanged
5 BlackRock, Inc. 0.00% of their portfolio New York, NY 3,795,8973.8m $76.4m $76.4m 0.00% Added +41.7k +41,749
6 SILVERARC CAPITAL MANAGEMENT, LLC 6.82% of their portfolio BOSTON, MA 2,876,4072.9m $57.9m $57.9m 6.82% Added +449.3k +449,289
7 Capital World Investors 0.01% of their portfolio LOS ANGELES, CA 2,808,5832.8m $56.5m $56.5m 0.01% Unchanged
8 Point72 Asset Management, L.P. 0.07% of their portfolio STAMFORD, CT 2,136,9402.1m $43.0m $43.0m 0.07% Reduced -146.8k -146,826
9 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,955,8442.0m $39.4m $39.4m 0.00% Added +44.2k +44,153
10 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 1,912,1461.9m $38.5m $38.5m 0.03% Reduced -984.5k -984,520
11 Vestal Point Capital, LP 1.04% of their portfolio NEW YORK, NY 1,850,0001.9m $37.2m $37.2m 1.04% Reduced -40.0k -40,000
12 Parkman Healthcare Partners LLC 3.83% of their portfolio STAMFORD, CT 1,835,5061.8m $36.9m $36.9m 3.83% Added +67.0k +66,998
13 VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 1,830,4671.8m $36.8m $36.8m 0.00% First filing
14 Kynam Capital Management, LP 2.33% of their portfolio PRINCETON, NJ 1,820,9541.8m $36.7m $36.7m 2.33% Added +10.0k +10,000
15 Woodline Partners LP 0.11% of their portfolio San Francisco, CA 1,509,9201.5m $30.4m $30.4m 0.11% Reduced -411.2k -411,172
16 Octagon Capital Advisors LP 3.23% of their portfolio NEW YORK, NY 1,450,0001.4m $29.2m $29.2m 3.23% Added +176.7k +176,667
17 EMERALD ADVISERS, LLC 0.81% of their portfolio LEOLA, PA 1,264,0231.3m $25.4m $25.4m 0.81% Reduced -76.5k -76,472
18 ARMISTICE CAPITAL, LLC 0.82% of their portfolio NEW YORK, NY 1,236,0001.2m $24.9m $24.9m 0.82% Added +436.0k +436,000
19 Elmind Capital, LP 5.84% of their portfolio NEW YORK, NY 1,021,3001.0m $20.6m $20.6m 5.84% Added +220.0k +220,000
20 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 996,235996.2k $20.1m $20.1m 0.00% Added +52.2k +52,158
21 Squadron Capital Management LLC 7.93% of their portfolio OAK BROOK, IL 985,100985.1k $19.8m $19.8m 7.93% Added +285.1k +285,100
22 Spruce Street Capital LP 4.34% of their portfolio NEW YORK, NY 897,681897.7k $18.1m $18.1m 4.34% Added +509.7k +509,713
23 Freestone Grove Partners LP 0.13% of their portfolio San Francisco, CA 882,906882.9k $17.8m $17.8m 0.13% Added +249.9k +249,887
24 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 824,293824.3k $16.6m $16.6m 0.00% Reduced -11.0k -11,011
25 EMERALD MUTUAL FUND ADVISERS TRUST 0.79% of their portfolio LEOLA, PA 805,762805.8k $16.2m $16.2m 0.79% Reduced -49.7k -49,699
26 GREAT POINT PARTNERS LLC 3.33% of their portfolio Greenwich, CT 675,000675.0k $13.6m $13.6m 3.33% Reduced -10.6k -10,632
27 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 584,347584.3k $11.8m $11.8m 0.00% Reduced -110.8k -110,828
28 Driehaus Capital Management LLC 0.08% of their portfolio Chicago, IL 564,039564.0k $11.4m $11.4m 0.08% New
29 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 555,628555.6k $11.2m $11.2m 0.00% Added +165.8k +165,815
30 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 537,061537.1k $10.8m $10.8m 0.00% Reduced -163.5k -163,512
31 UBS Group AG 0.00% of their portfolio ZURICH, V8 515,650515.6k $10.4m $10.4m 0.00% Added +143.7k +143,657
32 SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio London, X0 506,743506.7k $9.3m $9.3m 0.01% Reduced -665.0k -665,012
33 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 439,099439.1k $8.8m $8.8m 0.00% Reduced -261.1k -261,129
34 Catalio Capital Management, LP 1.79% of their portfolio NEW YORK, NY 426,551426.6k $8.6m $8.6m 1.79% New
35 Hennion & Walsh Asset Management, Inc. 0.25% of their portfolio Parsippany, NJ 375,995376.0k $7.6m $7.6m 0.25% Added +34.2k +34,176
36 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 363,694363.7k $7.3m $7.3m 0.00% Added +11.7k +11,721
37 VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio MALVERN, PA 362,900362.9k $7.3m $7.3m 0.00% First filing
38 SEB Asset Management AB 0.03% of their portfolio STOCKHOLM, V7 351,305351.3k $7.1m $7.1m 0.03% First filing
39 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 323,451323.5k $6.5m $6.5m 0.00% Reduced -918 -918
40 Schonfeld Strategic Advisors LLC 0.05% of their portfolio NEW YORK, NY 315,537315.5k $6.4m $6.4m 0.05% Added +9.7k +9,657
41 HRT FINANCIAL LP 0.02% of their portfolio NEW YORK, NY 286,916286.9k $5.8m $5.8m 0.02% Reduced -136 -136
42 Jefferies Financial Group Inc. 0.07% of their portfolio NEW YORK, NY 286,046286.0k $5.8m $5.8m 0.07% New
43 Ishara Investments LP 5.63% of their portfolio LOS ANGELES, CA 276,750276.8k $5.6m $5.6m 5.63% New
44 VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio MALVERN, PA 276,391276.4k $5.6m $5.6m 0.00% First filing
45 DAFNA Capital Management LLC 1.22% of their portfolio LOS ANGELES, CA 267,402267.4k $5.4m $5.4m 1.22% Reduced -89.4k -89,400
46 Atom Investors LP 0.35% of their portfolio AUSTIN, TX 245,993246.0k $5.0m $5.0m 0.35% Reduced -30.1k -30,120
47 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 244,261244.3k $4.9m $4.9m 0.00% Added +233.5k +233,490
48 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 229,984230.0k $4.6m $4.6m 0.00% Added +195.1k +195,055
49 F/m Investments LLC 0.30% of their portfolio WASHINGTON, DC 226,991227.0k $4.6m $4.6m 0.30% Reduced -9.7k -9,699
50 Blue Owl Capital Holdings LP 1.19% of their portfolio New York, NY 215,000215.0k $4.3m $4.3m 1.19% Reduced -145.0k -145,000
51 FMR LLC 0.00% of their portfolio BOSTON, MA 187,848187.8k $3.8m $3.8m 0.00% Added +76.0k +76,041
52 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 180,314180.3k $3.6m $3.6m 0.01% New
53 ExodusPoint Capital Management, LP 0.04% of their portfolio NEW YORK, NY 177,274177.3k $3.6m $3.6m 0.04% Added +157.2k +157,213
54 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 162,908162.9k $3.3m $3.3m 0.00% New
55 NAN FUNG TRINITY (HK) LTD 0.34% of their portfolio CENTRAL, HONG KONG, K3 154,522154.5k $3.1m $3.1m 0.34% Unchanged
56 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 153,459153.5k $3.1m $3.1m 0.00% New
57 Squarepoint Ops LLC 0.01% of their portfolio NEW YORK, NY 143,966144.0k $2.9m $2.9m 0.01% New
58 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 140,651140.7k $2.8m $2.8m 0.00% Added +11.1k +11,134
59 Trexquant Investment LP 0.02% of their portfolio STAMFORD, CT 139,458139.5k $2.8m $2.8m 0.02% New
60 NEXTBio Capital Management LP 1.23% of their portfolio AUSTIN, TX 131,796131.8k $2.7m $2.7m 1.23% Unchanged
61 Seven Fleet Capital Management LP 0.81% of their portfolio MOUNTAIN VIEW, CA 128,487128.5k $2.6m $2.6m 0.81% Added +80.1k +80,075
62 Brevan Howard Capital Management LP 0.02% of their portfolio ST. HELIER, Y9 125,049125.0k $2.4m $2.4m 0.02% Added +65.9k +65,902
63 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 107,262107.3k $2.2m $2.2m 0.00% Reduced -15.1k -15,117
64 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 106,864106.9k $2.2m $2.2m 0.00% Reduced -265 -265
65 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 97,72697.7k $2.0m $2.0m 0.00% Added +60.0k +59,965
66 ORBIMED ADVISORS LLC 0.04% of their portfolio New York, NY 94,40094.4k $1.9m $1.9m 0.04% Reduced -288.0k -288,000
67 Walleye Capital LLC 0.01% of their portfolio NEW YORK, NY 79,66679.7k $1.6m $1.6m 0.01% New
68 XTX Topco Ltd 0.03% of their portfolio LONDON, X0 79,11879.1k $1.6m $1.6m 0.03% Added +52.6k +52,610
69 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 75,28275.3k $1.5m $1.5m 0.00% Reduced -2.6k -2,582
70 MARTINGALE ASSET MANAGEMENT L P 0.04% of their portfolio BOSTON, MA 69,94569.9k $1.4m $1.4m 0.04% Added +39.0k +39,006
71 Campbell & CO Investment Adviser LLC 0.07% of their portfolio BALTIMORE, MD 64,24964.2k $1.3m $1.3m 0.07% New
72 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 59,98660.0k $1.2m $1.2m 0.00% Added +15.9k +15,904
73 Rafferty Asset Management, LLC 0.00% of their portfolio New York, NY 57,29657.3k $1.2m $1.2m 0.00% Reduced -8.3k -8,297
74 Birchview Capital, LP 0.65% of their portfolio BURLINGTON, VT 57,00057.0k $1.1m $1.1m 0.65% Unchanged
75 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 56,19256.2k $1.1m $1.1m 0.00% Reduced -57 -57
76 Swiss National Bank 0.00% of their portfolio ZURICH, V8 54,90054.9k $1.1m $1.1m 0.00% Unchanged
77 CenterBook Partners LP 0.06% of their portfolio GREENWICH, CT 53,26453.3k $1.1m $1.1m 0.06% New
78 PANAGORA ASSET MANAGEMENT INC 0.00% of their portfolio BOSTON, MA 50,79250.8k $1.0m $1.0m 0.00% Reduced -58.6k -58,599
79 Virtus Investment Advisers, LLC 0.28% of their portfolio HARTFORD, CT 49,92749.9k $1.0m $1.0m 0.28% Added +9.5k +9,513
80 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 47,46947.5k $955.5k $955.5k 0.00% Added +78 +78
81 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 46,76046.8k $941.3k $941.3k 0.00% Reduced -25.1k -25,135
82 Lisanti Capital Growth, LLC 0.22% of their portfolio NEW YORK, NY 43,77543.8k $881.2k $881.2k 0.22% New
83 Man Group plc 0.00% of their portfolio LONDON, X0 42,57642.6k $857.1k $857.1k 0.00% Added +25.1k +25,130
84 ALPS ADVISORS INC 0.00% of their portfolio Denver, CO 41,14941.1k $828.3k $828.3k 0.00% Reduced -355 -355
85 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 38,85738.9k $782.2k $782.2k 0.00% Added +3.8k +3,766
86 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 37,57237.6k $756.3k $756.3k 0.00% Added +12.9k +12,906
87 Quadrature Capital Ltd 0.01% of their portfolio LONDON, X0 35,12335.1k $707.0k $707.0k 0.01% New
88 Ikarian Capital, LLC 0.10% of their portfolio DALLAS, TX 35,11935.1k $706.9k $706.9k 0.10% Unchanged
89 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 34,74334.7k $699.4k $699.4k 0.00% Added +7.0k +7,021
90 Y-Intercept (Hong Kong) Ltd 0.01% of their portfolio HONG KONG, K3 33,77633.8k $679.9k $679.9k 0.01% New
91 Quarry LP 0.14% of their portfolio NEW YORK, NY 33,75033.8k $679.4k $679.4k 0.14% New
92 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 33,58033.6k $542.3k $542.3k 0.00% Reduced -6.4k -6,440
93 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 32,45332.5k $653.3k $653.3k 0.00% Added +3.3k +3,297
94 EVOKE WEALTH, LLC 0.01% of their portfolio Los Angeles, CA 31,54231.5k $634.9k $634.9k 0.01% Reduced -299 -299
95 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 29,36729.4k $592.0k $592.0k 0.00% Added +6.2k +6,249
96 AXQ CAPITAL, LP 0.07% of their portfolio JERSEY CITY, NJ 26,85026.9k $540.5k $540.5k 0.07% New
97 PROFUND ADVISORS LLC 0.02% of their portfolio BETHESDA, MD 25,66025.7k $516.5k $516.5k 0.02% Added +1.3k +1,268
98 Verition Fund Management LLC 0.00% of their portfolio GREENWICH, CT 25,50025.5k $513.3k $513.3k 0.00% New
99 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 24,29624.3k $489.1k $489.1k 0.00% Added +6.4k +6,428
100 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 23,92723.9k $481.7k $481.7k 0.00% Reduced -32.1k -32,087