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Bridger Management Portfolio holdings

AUM $128M
1-Year Est. Return 9.54%
This Fund
S&P 500
This Quarter Est. Return
-8.26%
1 Year Est. Return
+9.54%
3 Year Est. Return
+98.31%
5 Year Est. Return
+125.76%
10 Year Est. Return
+911.97%
AUM
$1.47B
AUM Growth
-$1.7B
Cap. Flow
-$1.51B
Cap. Flow %
-102.85%
Top 10 Hldgs %
50.92%
Holding
53
New
9
Increased
13
Reduced
10
Closed
16

Top Buys

Rank Stock Value
1
TEVA icon
Teva Pharmaceuticals
TEVA
+$123M
2
AET
Aetna Inc
AET
+$83M
3
CNC icon
Centene
CNC
+$53.8M
4
WMGI
Wright Medical Group Inc
WMGI
+$52M
5
MGM icon
MGM Resorts International
MGM
+$34.4M

Top Sells

Rank Stock Value
1
CAH icon
Cardinal Health
CAH
+$65.3M
2
AGN
Allergan plc
AGN
+$62.9M
3
OPLN
Openlane
OPLN
+$55.2M
4
CI icon
Cigna
CI
+$54.5M
5
ZTS icon
Zoetis
ZTS
+$54.3M

Sector Composition

Rank Sector Weight
1 Healthcare 48.08%
2 Financials 9.75%
3 Communication Services 7.48%
4 Consumer Discretionary 6.93%
5 Consumer Staples 5.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LBRDA icon
26
Liberty Broadband Class A
LBRDA
$4.91B
$22.4M 1.53%
435,892
+90,212
+26% +$4.88M
GRUB
27
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
$20.7M 1.41%
+425,450
New +$24.8M
CRDF icon
28
Cardiff Oncology
CRDF
$66.7M
$18.7M 1.28%
45,703
+1,945
+4% +$1.02M
DYAX
29
DELISTED
DYAX CORPORATION
DYAX
$14.3M 0.98%
749,396
+226,239
+43% +$5.4M
LXRX icon
30
Lexicon Pharmaceuticals
LXRX
$1.04B
$13.9M 0.95%
1,292,368
+1,032,910
+398% +$11.3M
CMRX
31
DELISTED
Chimerix, Inc.
CMRX
$11.8M 0.8%
+307,782
New +$15.2M
SPNE
32
DELISTED
SeaSpine Holdings Corporation Common Stock
SPNE
$10M 0.68%
+618,684
New +$10.1M
ELGX
33
DELISTED
Endologix Inc
ELGX
$8.28M 0.56%
+67,542
New +$9.17M
MCRB icon
34
Seres Therapeutics
MCRB
$46.8M
$5.97M 0.41%
+10,072
New +$8.22M
MPC icon
35
Marathon Petroleum
MPC
$92.3B
$5.14M 0.35%
110,890
-1,031,834
-90% -$53.1M
BYD icon
36
Boyd Gaming
BYD
$6.36B
$4.56M 0.31%
+279,554
New +$4.63M
ALPN
37
DELISTED
Alpine Immune Sciences Inc
ALPN
$381K 0.03%
8,290
– –
AMLP icon
38
CALL
Alerian MLP ETF
AMLP
$13B
– –
-200,000
Closed -$15.6M
CAH icon
39
Cardinal Health
CAH
$54B
– –
-780,380
Closed -$65.3M
CCJ icon
40
Cameco
CCJ
$37.5B
– –
-813,586
Closed -$11.6M
CI icon
41
Cigna
CI
$74.6B
– –
-336,429
Closed -$54.5M
HUM icon
42
Humana
HUM
$43.9B
– –
-168,809
Closed -$32.3M
OPLN
43
Openlane
OPLN
$4.21B
– –
-3,898,564
Closed -$55.2M
LLY icon
44
Eli Lilly
LLY
$1.02T
– –
-349,591
Closed -$29.2M
REGN icon
45
Regeneron Pharmaceuticals
REGN
$78.4B
– –
-54,132
Closed -$27.6M
SPY icon
46
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$790B
– –
-7,000,000
Closed -$1.44B
ZTS icon
47
Zoetis
ZTS
$32.4B
– –
-1,125,778
Closed -$54.3M
BKI
48
DELISTED
Black Knight, Inc. Common Stock
BKI
– –
-215,700
Closed -$6.66M
MNK
49
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
– –
-399,932
Closed -$47.1M
AGN
50
DELISTED
Allergan plc
AGN
– –
-207,322
Closed -$62.9M
1
2
3

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Bridger Management's Q3 2015 Portfolio in Review

As of Q3 2015, Bridger Management held 53 positions worth $1.47B, down 54% from $3.16B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Bridger Management withdrew a net $1.51B in Q3 2015, closing 16 positions and reducing 10 holdings. Its most notable exit was Cardinal Health, an estimated $65.3M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 48% of assets, up from 29% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Bridger Management opened a new position in Teva Pharmaceuticals worth $108M.

  • Bridger Management's largest Q3 2015 buy was Teva Pharmaceuticals: 1,904,346 shares worth $108M.
  • Bridger Management added most to Centene in Q3 2015, an estimated $53.8M increase.
  • Bridger Management's biggest Q3 2015 reduction was Marathon Petroleum, cutting an estimated $53.1M.
  • Bridger Management fully exited Cardinal Health in Q3 2015, selling an estimated $65.3M.
  • Bridger Management's ten largest holdings make up 51% of its $1.47B portfolio in Q3 2015.
  • Bridger Management opened 9 new positions and closed 16 in Q3 2015.
  • Bridger Management's portfolio value fell 54% quarter-over-quarter to $1.47B.

Based on Bridger Management's 13F filing for Q3 2015, filed 16 Nov 2015.