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VMI

VHCP Management II Portfolio holdings

AUM $379M
1-Year Est. Return 421.62%
This Fund
S&P 500
This Quarter Est. Return
-12.15%
1 Year Est. Return
+421.62%
3 Year Est. Return
+2,333.62%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$233M
AUM Growth
-$142M
Cap. Flow
-$92M
Cap. Flow %
-39.47%
Top 10 Hldgs %
91.29%
Holding
24
New
3
Increased
2
Reduced
1
Closed
5

Top Buys

Rank Stock Value
1
KA
Kineta, Inc. Common Stock
KA
+$2.43M
2
ORTX
Orchard Therapeutics plc American Depositary Shares
ORTX
+$2.21M
3
PTGX icon
Protagonist Therapeutics
PTGX
+$1.98M
4
MRNS
Marinus Pharmaceuticals, Inc
MRNS
+$1.75M
5
RARX
Ra Pharmaceuticals, Inc. Common Stock
RARX
+$1.38M

Top Sells

Rank Stock Value
1
ECYT
Endocyte, Inc. Common Stock
ECYT
+$74.8M
2
BHVN
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
+$10M
3
ARGX icon
argenx
ARGX
+$9.19M
4
MNTA
Momenta Pharmaceuticals, Inc.
MNTA
+$6.91M
5
APLS
Apellis Pharmaceuticals
APLS
+$528K

Sector Composition

Rank Sector Weight
1 Healthcare 97.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BHVN
1
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
$42.1M 18.07%
1,138,075
-277,316
-20% -$10M
ASND icon
2
Ascendis Pharma A/S
ASND
$16.6B
$31.6M 13.56%
504,210
– –
OBSV
3
DELISTED
ObsEva SA Ordinary Shares
OBSV
$28.5M 12.24%
2,252,460
– –
BCRX icon
4
BioCryst Pharmaceuticals
BCRX
$2.38B
$26.2M 11.26%
3,249,164
– –
TCDA
5
DELISTED
Tricida, Inc. Common Stock
TCDA
$22.7M 9.74%
962,696
– –
KNSA icon
6
Kiniksa Pharmaceuticals
KNSA
$4.85B
$18M 7.71%
639,230
– –
KALV
7
DELISTED
KalVista Pharmaceuticals
KALV
$15M 6.44%
759,181
– –
ZGNX
8
DELISTED
Zogenix, Inc.
ZGNX
$13.2M 5.67%
362,010
– –
RARX
9
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
$11.5M 4.94%
632,480
+87,868
+16% +$1.38M
DBVT
10
DBV Technologies
DBVT
$820M
$3.89M 1.67%
46,315
– –
BLPH
11
DELISTED
Bellerophon Therapeutics, Inc.
BLPH
$3.33M 1.43%
276,625
– –
KDMN
12
DELISTED
Kadmon Holdings, Inc.
KDMN
$2.94M 1.26%
1,411,428
– –
SPRO icon
13
Spero Therapeutics
SPRO
$67.2M
$2.92M 1.25%
474,015
– –
CNST
14
DELISTED
Constellation Pharmaceuticals, Inc.
CNST
$2.91M 1.25%
726,677
– –
ORTX
15
DELISTED
Orchard Therapeutics plc American Depositary Shares
ORTX
$2.34M 1%
+14,856
New +$2.21M
MRNS
16
DELISTED
Marinus Pharmaceuticals, Inc
MRNS
$2.13M 0.92%
185,969
+86,660
+87% +$1.75M
PTGX icon
17
Protagonist Therapeutics
PTGX
$8.71B
$1.68M 0.72%
+250,024
New +$1.98M
KA
18
DELISTED
Kineta, Inc. Common Stock
KA
$1.63M 0.7%
+3,581
New +$2.43M
MTVA
19
MetaVia Inc
MTVA
$7.8M
$416K 0.18%
8
– –
APLS
20
DELISTED
Apellis Pharmaceuticals
APLS
– –
-29,710
Closed -$528K
ARGX icon
21
argenx
ARGX
$57.8B
– –
-121,581
Closed -$9.19M
CCXI
22
DELISTED
ChemoCentryx, Inc.
CCXI
– –
-23,064
Closed -$292K
MNTA
23
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
– –
-262,822
Closed -$6.91M
ECYT
24
DELISTED
Endocyte, Inc. Common Stock
ECYT
– –
-4,211,302
Closed -$74.8M

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VHCP Management II's Q4 2018 Portfolio in Review

As of Q4 2018, VHCP Management II held 24 positions worth $233M, down 38% from $374M the previous quarter. Its ten largest holdings account for 91% of the portfolio.

VHCP Management II withdrew a net $92M in Q4 2018, closing 5 positions and reducing 1 holding. Its most notable exit was Endocyte, Inc. Common Stock, an estimated $74.8M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 98% of assets, down from 98% a quarter earlier.

Against the trend, VHCP Management II opened a new position in Kineta, Inc. Common Stock worth $1.63M.

  • VHCP Management II's largest Q4 2018 buy was Kineta, Inc. Common Stock: 3,581 shares worth $1.63M.
  • VHCP Management II added most to Marinus Pharmaceuticals, Inc in Q4 2018, an estimated $1.75M increase.
  • VHCP Management II's biggest Q4 2018 reduction was Biohaven Pharmaceutical Holding Company Ltd., cutting an estimated $10M.
  • VHCP Management II fully exited Endocyte, Inc. Common Stock in Q4 2018, selling an estimated $74.8M.
  • VHCP Management II's ten largest holdings make up 91% of its $233M portfolio in Q4 2018.
  • VHCP Management II opened 3 new positions and closed 5 in Q4 2018.
  • VHCP Management II's portfolio value fell 38% quarter-over-quarter to $233M.

Based on VHCP Management II's 13F filing for Q4 2018, filed 13 Feb 2019.