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TCM

Tamarack Capital Management Portfolio holdings

AUM $840M
1-Year Est. Return 19.47%
This Fund
S&P 500
This Quarter Est. Return
+7.12%
1 Year Est. Return
+19.47%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$401M
AUM Growth
-$21.7M
Cap. Flow
-$37.2M
Cap. Flow %
-9.28%
Top 10 Hldgs %
66.6%
Holding
31
New
2
Increased
13
Reduced
9
Closed
7

Top Buys

Rank Stock Value
1
ELGX
Endologix Inc
ELGX
+$22.2M
2
CTRX
CATAMARAN CORP COM STK (CDA)
CTRX
+$10.8M
3
VOLC
VOLCANO CORPORATION COM STK
VOLC
+$10.1M
4
CFN
CAREFUSION CORPORATION
CFN
+$9.71M
5
CNMD icon
CONMED
CNMD
+$6.05M

Top Sells

Rank Stock Value
1
VAR
Varian Medical Systems, Inc.
VAR
+$12.8M
2
DXCM icon
DexCom
DXCM
+$11M
3
ALKS icon
Alkermes
ALKS
+$10.2M
4
WELL icon
Welltower
WELL
+$8.84M
5
AUXL
AUXILIUM PHARAMCEUTICALS INC
AUXL
+$8.63M

Sector Composition

Rank Sector Weight
1 Healthcare 44.37%
2 Technology 3.26%
3 Real Estate 2.81%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$65.5M 16.34%
350,000
-150,000
-30% -$27.5M
VOLC
2
DELISTED
VOLCANO CORPORATION COM STK
VOLC
$32.4M 8.09%
1,645,000
+470,000
+40% +$10.1M
CFN
3
DELISTED
CAREFUSION CORPORATION
CFN
$28.2M 7.03%
700,000
+240,000
+52% +$9.71M
AUXL
4
DELISTED
AUXILIUM PHARAMCEUTICALS INC
AUXL
$25.1M 6.28%
925,000
-325,000
-26% -$8.63M
IWM icon
5
PUT
iShares Russell 2000 ETF
IWM
$80.9B
$23.3M 5.81%
200,000
-100,000
-33% -$11.5M
ALKS icon
6
Alkermes
ALKS
$8.82B
$20.9M 5.23%
475,000
-215,000
-31% -$10.2M
INSY
7
DELISTED
Insys Therapeutics, Inc.
INSY
$19.8M 4.94%
954,282
+249,282
+35% +$4.94M
ELGX
8
DELISTED
Endologix Inc
ELGX
$18.3M 4.58%
+142,500
New +$22.2M
JNJ icon
9
CALL
Johnson & Johnson
JNJ
$635B
$17.2M 4.29%
+175,000
New +$16.2M
ITGR icon
10
Integer Holdings
ITGR
$3.35B
$16.1M 4.01%
383,950
-54,850
-13% -$2.19M
SPNC
11
DELISTED
Spectranetics Corp
SPNC
$15.9M 3.97%
525,000
-245,300
-32% -$6.72M
NXTM
12
DELISTED
NxStage Medical Inc.
NXTM
$15.3M 3.82%
1,200,000
+318,000
+36% +$4.15M
CTRX
13
DELISTED
CATAMARAN CORP COM STK (CDA)
CTRX
$14.5M 3.63%
325,000
+225,000
+225% +$10.8M
VCRA
14
DELISTED
VOCERA COMMUNICATIONS, INC.
VCRA
$13.1M 3.26%
800,000
+50,000
+7% +$844K
COV
15
DELISTED
COVIDIEN PLC COM SHS NEW (IRELAND)
COV
$12.9M 3.22%
175,000
-15,000
-8% -$1.05M
BMR
16
DELISTED
BIOMED REALTY TRUST INC
BMR
$11.3M 2.81%
550,000
+100,000
+22% +$1.97M
MDXG icon
17
MiMedx Group
MDXG
$626M
$11M 2.75%
1,800,000
+600,000
+50% +$4.41M
CNMD icon
18
CONMED
CNMD
$1.29B
$8.34M 2.08%
192,000
+135,663
+241% +$6.05M
SRGA
19
DELISTED
Surgalign Holdings, Inc. Common Stock
SRGA
$8.16M 2.04%
66,667
+9,118
+16% +$988K
ATRC icon
20
AtriCure
ATRC
$1.77B
$7.94M 1.98%
422,292
-419,308
-50% -$8.59M
LMNX
21
DELISTED
Luminex Corp
LMNX
$5.43M 1.36%
300,000
+100,800
+51% +$1.89M
STRM
22
DELISTED
Streamline Health Solutions
STRM
$4.4M 1.1%
58,333
+5,374
+10% +$500K
OXFD
23
DELISTED
Oxford Immunotec Global PLC Ordinary Shares
OXFD
$3.36M 0.84%
167,625
-107,375
-39% -$2.32M
WINT
24
DELISTED
Windtree Therapeutics Inc
WINT
$2.15M 0.54%
71,429
+53,854
+306% +$1.81M
DXCM icon
25
DexCom
DXCM
$27.6B
– –
-1,240,000
Closed -$11M
1
2

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Tamarack Capital Management's Q1 2014 Portfolio in Review

As of Q1 2014, Tamarack Capital Management held 31 positions worth $401M, down 5.1% from $422M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Tamarack Capital Management withdrew a net $37.2M in Q1 2014, closing 7 positions and reducing 9 holdings. Its most notable exit was Varian Medical Systems, Inc., an estimated $12.8M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 44% of assets, up from 43% a quarter earlier, followed by Technology and Real Estate.

Against the trend, Tamarack Capital Management opened a new position in Endologix Inc worth $18.3M.

  • Tamarack Capital Management's largest Q1 2014 buy was Endologix Inc: 142,500 shares worth $18.3M.
  • Tamarack Capital Management added most to CATAMARAN CORP COM STK (CDA) in Q1 2014, an estimated $10.8M increase.
  • Tamarack Capital Management's biggest Q1 2014 reduction was Alkermes, cutting an estimated $10.2M.
  • Tamarack Capital Management fully exited Varian Medical Systems, Inc. in Q1 2014, selling an estimated $12.8M.
  • Tamarack Capital Management's ten largest holdings make up 67% of its $401M portfolio in Q1 2014.
  • Tamarack Capital Management opened 2 new positions and closed 7 in Q1 2014.
  • Tamarack Capital Management's portfolio value fell 5.1% quarter-over-quarter to $401M.

Based on Tamarack Capital Management's 13F filing for Q1 2014, filed 12 May 2014.