# EDGAR Filing Document

**Accession Number:** 0001974915
**File Stem:** 0001974915-26-000002
**Filing Date:** 2026-2
**Character Count:** 11471
**Document Hash:** 33772bc4af9a077a678cf07b73745b0c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001974915-26-000002.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001974915-26-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Vestal Point Capital, LP
- **CENTRAL INDEX KEY:** 0001974915

**ORGANIZATION NAME:**
- **EIN:** 922296021
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-23784
- **FILM NUMBER:** 26640699

**BUSINESS ADDRESS:**
- **STREET 1:** 632 BROADWAY
- **STREET 2:** SUITE 602
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10012
- **BUSINESS PHONE:** 6469894000

**MAIL ADDRESS:**
- **STREET 1:** 632 BROADWAY
- **STREET 2:** SUITE 602
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10012

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Vestal Point Capital LP<br>**Address:** 632 BROADWAY<br>SUITE 602<br>NEW YORK, NY 10012

**Form 13F File Number:** 028-23784

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Ilko Menkov<br>**Title:** Partner COO and CCO<br>**Phone:** 6469894002

**Signature, Place, and Date of Signing:**

Ilko Menkov  New York, NY  02-17-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 76

**Form 13F Information Table Value Total:** $2941274351

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Abbott Laboratories | COM | 002824100 |  | 75174000 | 600000 | SH |  | SOLE |  | 600000 | 0 | 0 |
| Abivax SA | SPONSORED ADS | 00370M103 |  | 256224500 | 1900000 | SH |  | SOLE |  | 1900000 | 0 | 0 |
| Agios Pharmaceuticals Inc | COM | 00847X104 |  | 8846500 | 325000 | SH |  | SOLE |  | 325000 | 0 | 0 |
| Alcon AG | ORD SHS | H01301128 |  | 87085050 | 1105000 | SH |  | SOLE |  | 1105000 | 0 | 0 |
| Alector Inc | COM | 014442107 |  | 1177800 | 755000 | SH |  | SOLE |  | 755000 | 0 | 0 |
| Alto Neuroscience Inc | COM SHS | 02157Q109 |  | 44233000 | 2485000 | SH |  | SOLE |  | 2485000 | 0 | 0 |
| Apogee Therapeutics Inc | COM | 03770N101 |  | 41514000 | 550000 | SH |  | SOLE |  | 550000 | 0 | 0 |
| Arcellx Inc | COMMON STOCK | 03940C100 |  | 190710000 | 2925000 | SH |  | SOLE |  | 2925000 | 0 | 0 |
| Arrowhead Pharmaceuticals Inc | COM | 04280A100 |  | 59751000 | 900000 | SH |  | SOLE |  | 900000 | 0 | 0 |
| Ascendis Pharma A/S | SPONSORED ADR | 04351P101 |  | 37317000 | 175000 | SH |  | SOLE |  | 175000 | 0 | 0 |
| Axsome Therapeutics Inc | COM | 05464T104 |  | 38354400 | 210000 | SH |  | SOLE |  | 210000 | 0 | 0 |
| Beta Bionics Inc | COM | 08659B102 |  | 18282000 | 600000 | SH |  | SOLE |  | 600000 | 0 | 0 |
| Bicara Therapeutics Inc | COM | 055477103 |  | 60167250 | 3575000 | SH |  | SOLE |  | 3575000 | 0 | 0 |
| BioCryst Pharmaceuticals Inc | COM | 09058V103 |  | 17550000 | 2250000 | SH |  | SOLE |  | 2250000 | 0 | 0 |
| BioMarin Pharmaceutical Inc | COM | 09061G101 |  | 178290000 | 3000000 | SH |  | SOLE |  | 3000000 | 0 | 0 |
| Black Diamond Therapeutics Inc | COM | 09203E105 |  | 2114100 | 870000 | SH |  | SOLE |  | 870000 | 0 | 0 |
| Bristol-Myers Squibb Co | COM | 110122108 |  | 13485000 | 250000 | SH |  | SOLE |  | 250000 | 0 | 0 |
| Celldex Therapeutics Inc | COM NEW | 15117B202 |  | 31641400 | 1165000 | SH |  | SOLE |  | 1165000 | 0 | 0 |
| Crescent Biopharma Inc | COM | G2545C104 |  | 17790000 | 1500000 | SH |  | SOLE |  | 1500000 | 0 | 0 |
| Day One Biopharmaceuticals Inc | COM | 23954D109 |  | 48464000 | 5200000 | SH |  | SOLE |  | 5200000 | 0 | 0 |
| DBV Technologies SA | SPONSORED ADS | 23306J309 |  | 5751000 | 300000 | SH |  | SOLE |  | 300000 | 0 | 0 |
| Definium Therapeutics Inc | COM NEW | 60255C885 |  | 8529430 | 637000 | SH |  | SOLE |  | 637000 | 0 | 0 |
| Denali Therapeutics Inc | COM | 24823R105 |  | 7677150 | 465000 | SH |  | SOLE |  | 465000 | 0 | 0 |
| Dexcom Inc | COM | 252131107 |  | 84621750 | 1275000 | SH |  | SOLE |  | 1275000 | 0 | 0 |
| Disc Medicine Inc | COM | 254604101 |  | 58366350 | 735000 | SH |  | SOLE |  | 735000 | 0 | 0 |
| Dyne Therapeutics Inc | COM | 26818M108 |  | 2347200 | 120000 | SH |  | SOLE |  | 120000 | 0 | 0 |
| Engene Holdings Inc | COM | 29286M105 |  | 9526650 | 1055000 | SH |  | SOLE |  | 1055000 | 0 | 0 |
| Enliven Therapeutics Inc | COM | 29337E102 |  | 58982000 | 3830000 | SH |  | SOLE |  | 3830000 | 0 | 0 |
| Fate Therapeutics Inc | COM | 31189P102 |  | 1694985 | 1725000 | SH |  | SOLE |  | 1725000 | 0 | 0 |
| Fulcrum Therapeutics Inc | COM | 359616109 |  | 10744500 | 950000 | SH |  | SOLE |  | 950000 | 0 | 0 |
| Geron Corp | COM | 374163103 |  | 14942400 | 11320000 | SH |  | SOLE |  | 11320000 | 0 | 0 |
| Gilead Sciences Inc | COM | 375558103 |  | 6137000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| Globus Medical Inc | CL A | 379577208 |  | 111320250 | 1275000 | SH |  | SOLE |  | 1275000 | 0 | 0 |
| Immatics NV | SHS | N44445109 |  | 64312500 | 6125000 | SH |  | SOLE |  | 6125000 | 0 | 0 |
| Immunocore Holdings PLC | ADS | 45258D105 |  | 20305350 | 585000 | SH |  | SOLE |  | 585000 | 0 | 0 |
| Invesco QQQ Trust Series 1 | UNIT SER 1 | 46090E103 |  | 215008500 | 350000 | SH | Put | SOLE |  | 350000 | 0 | 0 |
| Jazz Pharmaceuticals PLC | SHS USD | G50871105 |  | 49300000 | 290000 | SH |  | SOLE |  | 290000 | 0 | 0 |
| KalVista Pharmaceuticals Inc | COM | 483497103 |  | 30523500 | 1890000 | SH |  | SOLE |  | 1890000 | 0 | 0 |
| Lantheus Holdings Inc | COM | 516544103 |  | 23958000 | 360000 | SH |  | SOLE |  | 360000 | 0 | 0 |
| LENZ Therapeutics Inc | COM | 52635N103 |  | 4400000 | 275000 | SH |  | SOLE |  | 275000 | 0 | 0 |
| Lexeo Therapeutics Inc | COM | 52886X107 |  | 44436750 | 4475000 | SH |  | SOLE |  | 4475000 | 0 | 0 |
| MacroGenics Inc | COM | 556099109 |  | 450800 | 280000 | SH |  | SOLE |  | 280000 | 0 | 0 |
| MapLight Therapeutics Inc | COM | 56565P103 |  | 6762525 | 385000 | SH |  | SOLE |  | 385000 | 0 | 0 |
| Merck  Co Inc | COM | 58933Y105 |  | 81576500 | 775000 | SH |  | SOLE |  | 775000 | 0 | 0 |
| Mirum Pharmaceuticals Inc | COM | 604749101 |  | 5213340 | 66000 | SH |  | SOLE |  | 66000 | 0 | 0 |
| Monte Rosa Therapeutics Inc | COM | 61225M102 |  | 12152000 | 775000 | SH |  | SOLE |  | 775000 | 0 | 0 |
| Myriad Genetics Inc | COM | 62855J104 |  | 7521450 | 1223000 | SH |  | SOLE |  | 1223000 | 0 | 0 |
| Novocure Ltd | ORD SHS | G6674U108 |  | 6788250 | 525000 | SH |  | SOLE |  | 525000 | 0 | 0 |
| Nurix Therapeutics Inc | COM | 67080M103 |  | 88969300 | 4690000 | SH |  | SOLE |  | 4690000 | 0 | 0 |
| Nuvalent Inc | COM | 670703107 |  | 4627140 | 46000 | SH |  | SOLE |  | 46000 | 0 | 0 |
| Nyxoah SA | SHS | B6S7WD106 |  | 5092200 | 1107000 | SH |  | SOLE |  | 1107000 | 0 | 0 |
| Olema Pharmaceuticals Inc | COM | 68062P106 |  | 41250000 | 1650000 | SH |  | SOLE |  | 1650000 | 0 | 0 |
| OnKure Therapeutics Inc | COM CL A | 68277Q105 |  | 1841500 | 635000 | SH |  | SOLE |  | 635000 | 0 | 0 |
| Passage Bio Inc | COM NEW | 702712209 |  | 3599000 | 305000 | SH |  | SOLE |  | 305000 | 0 | 0 |
| Penumbra Inc | COM | 70975L107 |  | 15545500 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| Rapport Therapeutics Inc | COM | 75383L102 |  | 33677400 | 1110000 | SH |  | SOLE |  | 1110000 | 0 | 0 |
| REGENXBIO Inc | COM | 75901B107 |  | 489600 | 34000 | SH |  | SOLE |  | 34000 | 0 | 0 |
| Repligen Corp | COM | 759916109 |  | 13600380 | 83000 | SH |  | SOLE |  | 83000 | 0 | 0 |
| Revolution Medicines Inc | COM | 76155X100 |  | 23496750 | 295000 | SH |  | SOLE |  | 295000 | 0 | 0 |
| Rezolute Inc | COM NEW | 76200L309 |  | 3978960 | 1686000 | SH |  | SOLE |  | 1686000 | 0 | 0 |
| Savara Inc | COM | 805111101 |  | 9684180 | 1606000 | SH |  | SOLE |  | 1606000 | 0 | 0 |
| Scholar Rock Holding Corp | COM | 80706P103 |  | 30835000 | 700000 | SH |  | SOLE |  | 700000 | 0 | 0 |
| Solid Biosciences Inc | COM NEW | 83422E204 |  | 32796600 | 5815000 | SH |  | SOLE |  | 5815000 | 0 | 0 |
| Structure Therapeutics Inc | SPONSORED ADS | 86366E106 |  | 2434250 | 35000 | SH |  | SOLE |  | 35000 | 0 | 0 |
| Sutro Biopharma Inc | COM SHS | 869367201 |  | 2811510 | 243000 | SH |  | SOLE |  | 243000 | 0 | 0 |
| Taysha Gene Therapies Inc | COM SHS | 877619106 |  | 75625000 | 13750000 | SH |  | SOLE |  | 13750000 | 0 | 0 |
| Tectonic Therapeutic Inc | COM | 878972108 |  | 6842080 | 328000 | SH |  | SOLE |  | 328000 | 0 | 0 |
| Tenax Therapeutics Inc | COM NEW | 88032L605 |  | 651421 | 53439 | SH |  | SOLE |  | 53439 | 0 | 0 |
| Terns Pharmaceuticals Inc | COM | 880881107 |  | 181800000 | 4500000 | SH |  | SOLE |  | 4500000 | 0 | 0 |
| Tyra Biosciences Inc | COM | 90240B106 |  | 63753250 | 2425000 | SH |  | SOLE |  | 2425000 | 0 | 0 |
| Upstream Bio Inc | COM | 91678A107 |  | 19548000 | 720000 | SH |  | SOLE |  | 720000 | 0 | 0 |
| Vera Therapeutics Inc | CL A | 92337R101 |  | 27852000 | 550000 | SH |  | SOLE |  | 550000 | 0 | 0 |
| Voyager Therapeutics Inc | COM | 92915B106 |  | 5796750 | 1475000 | SH |  | SOLE |  | 1475000 | 0 | 0 |
| Xenon Pharmaceuticals Inc | COM | 98420N105 |  | 26892000 | 600000 | SH |  | SOLE |  | 600000 | 0 | 0 |
| Zimmer Biomet Holdings Inc | COM | 98956P102 |  | 13488000 | 150000 | SH |  | SOLE |  | 150000 | 0 | 0 |
| Zymeworks Inc | COM | 98985Y108 |  | 22775450 | 865000 | SH |  | SOLE |  | 865000 | 0 | 0 |

---