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VHCP Management Portfolio holdings

AUM $93M
1-Year Est. Return 10.04%
This Fund
S&P 500
This Quarter Est. Return
+25.75%
1 Year Est. Return
-10.04%
3 Year Est. Return
+233.99%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$192M
AUM Growth
+$6.56M
Cap. Flow
-$43.6M
Cap. Flow %
-22.67%
Top 10 Hldgs %
91.02%
Holding
20
New
3
Increased
–
Reduced
8
Closed
4

Top Buys

Rank Stock Value
1
AVDL
Avadel Pharmaceuticals
AVDL
+$5.36M
2
XNCR icon
Xencor
XNCR
+$929K
3
ARAV
Aravive, Inc. Common Stock
ARAV
+$578K

Top Sells

Rank Stock Value
1
IRWD icon
Ironwood Pharmaceuticals
IRWD
+$12.1M
2
VNDA icon
Vanda Pharmaceuticals
VNDA
+$8.92M
3
NBIX icon
Neurocrine Biosciences
NBIX
+$6.69M
4
DYAX
DYAX CORPORATION
DYAX
+$5.33M
5
CHTP
CHELSEA THERAPEUTICS INT'L LTD
CHTP
+$4.58M

Sector Composition

Rank Sector Weight
1 Healthcare 65.52%
2 Miscellaneous 34.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GWPH
1
DELISTED
GW Pharmaceuticals Plc American Depositary Shares
GWPH
$38.3M 19.89%
644,376
-55,000
-8% -$3.27M
ANAC
2
DELISTED
ANACOR PHARMACEUTICALS INC COM
ANAC
$30.9M 16.08%
1,545,999
– –
BCRX icon
3
BioCryst Pharmaceuticals
BCRX
$2.52B
$18.5M 9.59%
1,744,356
-10,000
-0.6% -$107K
DYAX
4
DELISTED
DYAX CORPORATION
DYAX
$18M 9.34%
2,000,859
-586,121
-23% -$5.33M
KERX
5
DELISTED
Keryx Biopharmaceuticals Inc
KERX
$17M 8.86%
1,000,273
– –
HRTX icon
6
Heron Therapeutics
HRTX
$63M
$15.2M 7.92%
1,095,734
-1
-0% -$13
IRWD icon
7
Ironwood Pharmaceuticals
IRWD
$701M
$11.1M 5.76%
1,074,600
-1,074,600
-50% -$12.1M
OCRX
8
DELISTED
Ocera Therapeutics, Inc.
OCRX
$7.42M 3.86%
703,730
– –
AVDL
9
DELISTED
Avadel Pharmaceuticals
AVDL
$6.7M 3.48%
+500,000
New +$5.36M
TXMD icon
10
TherapeuticsMD
TXMD
$25.7M
$5.34M 2.78%
16,930
– –
NBIX icon
11
Neurocrine Biosciences
NBIX
$15.8B
$4.89M 2.54%
303,503
-391,400
-56% -$6.69M
CHTP
12
DELISTED
CHELSEA THERAPEUTICS INT'L LTD
CHTP
$4.35M 2.26%
788,370
-912,800
-54% -$4.58M
ALXA
13
DELISTED
Alexza Pharmaceuticals Inc
ALXA
$1.1M 0.57%
247,812
-127,187
-34% -$652K
XNCR icon
14
Xencor
XNCR
$2.15B
$1.04M 0.54%
+88,400
New +$929K
ARAV
15
DELISTED
Aravive, Inc. Common Stock
ARAV
$571K 0.3%
+3,167
New +$578K
VNDA icon
16
Vanda Pharmaceuticals
VNDA
$329M
– –
-719,075
Closed -$8.92M
ALBO
17
DELISTED
Albireo Pharma Inc
ALBO
– –
-39,883
Closed -$2.73M
TSRO
18
DELISTED
TESARO, Inc.
TSRO
– –
-137,749
Closed -$3.89M
HPTX
19
DELISTED
HYPERION THERAPEUTICS INC COM STK (DE)
HPTX
– –
-109,271
Closed -$2.21M

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KC
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RSCM
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ZC
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TF
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NA
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NCIM
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VHCP Management's Q1 2014 Portfolio in Review

As of Q1 2014, VHCP Management held 20 positions worth $192M, up 3.5% from $186M the previous quarter. Its ten largest holdings account for 91% of the portfolio.

VHCP Management withdrew a net $43.6M in Q1 2014, closing 4 positions and reducing 8 holdings. Its most notable exit was Vanda Pharmaceuticals, an estimated $8.92M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 66% of assets, up from 65% a quarter earlier, followed by Miscellaneous.

Against the trend, VHCP Management opened a new position in Avadel Pharmaceuticals worth $6.7M.

  • VHCP Management's largest Q1 2014 buy was Avadel Pharmaceuticals: 500,000 shares worth $6.7M.
  • VHCP Management's biggest Q1 2014 reduction was Ironwood Pharmaceuticals, cutting an estimated $12.1M.
  • VHCP Management fully exited Vanda Pharmaceuticals in Q1 2014, selling an estimated $8.92M.
  • VHCP Management's ten largest holdings make up 91% of its $192M portfolio in Q1 2014.
  • VHCP Management opened 3 new positions and closed 4 in Q1 2014.
  • VHCP Management's portfolio value rose 3.5% quarter-over-quarter to $192M.

Based on VHCP Management's 13F filing for Q1 2014, filed 14 May 2014.