Kyverna Therapeutics, Inc.: which funds bought and sold

Institutions that bought and sold Kyverna Therapeutics shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 67 institutions that filed 13F reports for both quarters added to or opened positions in Kyverna Therapeutics, and 49 cut or closed them. Together they added a net 2.8M shares, +8.0% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 3.0M shares (−28.1%); index fund managers were net buyers of 4.6M shares (+121.3%). 31 opened a new position and 21 sold out entirely.

Bought, Q2 2026 67 institutions, 31 of them new holders Sold, Q2 2026 49 institutions, 21 of them sold out

Net change, all compared +2.8M shares (+8.0%)

Net change, active managers −3.0M shares (−28.1%), 12 bought, 19 sold

Buyers versus sellers

institutions compared, 141

67 bought 25 49 sold

Active managers and hedge funds 12 bought · 19 sold · −3.0M

Index fund managers 9 bought · 1 sold · +4.6M

Other institutions 46 bought · 29 sold · +1.2M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Blackrock, Inc. Index funds	+2.3M +257.4%	3.1M	$27.9M
State Street Corp Index funds	+844K +610.2%	982K	$8.8M
Aigh Capital Management LLC	+796K +39.8%	2.8M	$24.9M
Geode Capital Management, LLC Index funds	+626K +147.6%	1.0M	$9.4M
Vanguard Portfolio Management LLC Index funds	+282K New position	282K	$2.5M
Wells Fargo & Company	+259K +226.1%	373K	$3.3M
Propel Bio Management, LLC	+239K +37.1%	883K	$7.9M
Northern Trust Corp Index funds	+237K +304.1%	315K	$2.8M
Nuveen, LLC	+234K New position	234K	$2.1M
Bank Of America Corp	+210K +376.3%	265K	$2.4M
Walleye Capital LLC Hedge fund	+207K +543.0%	246K	$2.2M
Y-Intercept (Hong Kong) Ltd	+128K +111.1%	242K	$2.2M
Goldman Sachs Group Inc	+122K +57.5%	335K	$3M
Wellington Management Group LLP Active manager	+117K New position	117K	$1M
Vanguard Capital Management LLC Index funds	+114K +6.4%	1.9M	$16.9M
Charles Schwab Investment Management Inc Index funds	+109K +51.4%	320K	$2.8M
Bank Of New York Mellon Corp	+100K New position	100K	$893,504
Citadel Advisors LLC Hedge fund	+90K +154.0%	148K	$1.3M
FMR LLC Active manager	+89K +1310.2%	96K	$855,813
Susquehanna Portfolio Strategies, LLC	+61K +219.1%	89K	$791,609

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Walleye Capital LLC Hedge fund	+207K +543.0%	246K	$2.2M
Wellington Management Group LLP Active manager	+117K New position	117K	$1M
Citadel Advisors LLC Hedge fund	+90K +154.0%	148K	$1.3M
FMR LLC Active manager	+89K +1310.2%	96K	$855,813
Acadian Asset Management LLC Active manager	+42K New position	42K	$372,000
Alliancebernstein L.P. Active manager	+22K New position	22K	$190,723
Quantbot Technologies LP Hedge fund	+20K +2489.7%	21K	$189,667
Winton Group Ltd Hedge fund	+17K New position	17K	$155,034
American Century Companies Inc Active manager	+16K +30.3%	69K	$617,917
Man Group PLC Hedge fund	+15K +28.2%	69K	$611,582

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Balyasny Asset Management L.P. Hedge fund	−1.0M −91.5%	96K	$855,788
Marshall Wace, LLP Hedge fund	−606K Sold out	0	—
Susquehanna International Group, LLP	−422K −73.0%	156K	$1.4M
Price T Rowe Associates Inc Active manager	−369K −23.7%	1.2M	$10.6M
Millennium Management LLC Hedge fund	−366K −36.4%	640K	$5.7M
D. E. Shaw & Co., Inc. Hedge fund	−252K −35.0%	469K	$4.2M
Bain Capital Life Sciences Investors, LLC	−225K −7.2%	2.9M	$25.7M
Point72 Asset Management, L.P. Hedge fund	−223K Sold out	0	—
Qube Research & Technologies Ltd Hedge fund	−210K −62.9%	124K	$1.1M
Invesco Ltd.	−131K −70.1%	56K	$497,240
Two Sigma Investments, LP Hedge fund	−130K −71.7%	51K	$457,252
BNP Paribas Financial Markets	−101K −24.6%	311K	$2.8M
Jane Street Group, LLC	−87K −83.4%	17K	$154,268
683 Capital Management, LLC Hedge fund	−85K Sold out	0	—
UBS Group AG	−84K −18.7%	366K	$3.3M
Hudson Bay Capital Management LP Hedge fund	−71K Sold out	0	—
Kera Capital Partners, Inc.	−68K −63.0%	40K	$356,400
Squarepoint Ops LLC Hedge fund	−64K −43.6%	83K	$738,345
Manufacturers Life Insurance Company, The	−52K −38.9%	82K	$732,464
Voya Investment Management LLC	−44K Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Balyasny Asset Management L.P. Hedge fund	−1.0M −91.5%	96K	$855,788
Marshall Wace, LLP Hedge fund	−606K Sold out	0	—
Price T Rowe Associates Inc Active manager	−369K −23.7%	1.2M	$10.6M
Millennium Management LLC Hedge fund	−366K −36.4%	640K	$5.7M
D. E. Shaw & Co., Inc. Hedge fund	−252K −35.0%	469K	$4.2M
Point72 Asset Management, L.P. Hedge fund	−223K Sold out	0	—
Qube Research & Technologies Ltd Hedge fund	−210K −62.9%	124K	$1.1M
Two Sigma Investments, LP Hedge fund	−130K −71.7%	51K	$457,252
683 Capital Management, LLC Hedge fund	−85K Sold out	0	—
Hudson Bay Capital Management LP Hedge fund	−71K Sold out	0	—

New positions

largest by value

Institution	Shares	Value June 30, 2026
Vanguard Portfolio Management LLCIndex funds	282K	$2.5M
Nuveen, LLC	234K	$2.1M
Wellington Management Group LLPActive manager	117K	$1M
Bank Of New York Mellon Corp	100K	$893,504
Rhumbline AdvisersIndex funds	50K	$447,168
Susquehanna Fundamental Investments, LLC	45K	$404,158
Acadian Asset Management LLCActive manager	42K	$372,000
Mitsubishi Ufj Asset Management Co., Ltd.	26K	$229,352
Metlife Investment Management, LLC	26K	$228,319
Spark Investment Management LLC	25K	$223,641

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Marshall Wace, LLPHedge fund	606K	$5.2M
Point72 Asset Management, L.P.Hedge fund	223K	$1.9M
683 Capital Management, LLCHedge fund	85K	$733,550
Hudson Bay Capital Management LPHedge fund	71K	$613,239
Voya Investment Management LLC	44K	$380,108
Peapod Lane Capital LLC	40K	$336,470
Quadrature Capital LtdHedge fund	38K	$331,487
Mangrove Partners Im, LLCHedge fund	27K	$233,131
Jefferies Financial Group Inc.	24K	$206,430
ADAR1 Capital Management, LLCHedge fund	22K	$193,554

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 120
Ten largest holders: 64.7%
Index fund managers: 22.1%
Active managers and hedge funds: 20.2%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	12	19	5	10	−3.0M	−28.1%
Index fund managers	9	1	2	0	+4.6M	+121.3%
Other institutions	46	29	24	11	+1.2M	+5.7%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Kyverna Therapeutics.

Only managers that filed a holdings report for both quarters are compared (141 here). 1 other holder is left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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