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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
+14.93%
1 Year Est. Return
-10.04%
3 Year Est. Return
+233.99%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$187M
AUM Growth
-$5.27M
Cap. Flow
-$20.5M
Cap. Flow %
-10.98%
Top 10 Hldgs %
87.69%
Holding
21
New
5
Increased
–
Reduced
2
Closed
4

Top Buys

Rank Stock Value
1
LRMR icon
Larimar Therapeutics
LRMR
+$10.7M
2
RDUS
Radius Health, Inc.
RDUS
+$4.85M
3
NBSE
NeuBase Therapeutics, Inc. Common Stock
NBSE
+$4.49M
4
ZSPH
ZS PHARMA INC COMS TK (DE)
ZSPH
+$2.83M
5
LPCN icon
Lipocine
LPCN
+$1,000K

Top Sells

Rank Stock Value
1
GWPH
GW Pharmaceuticals Plc American Depositary Shares
GWPH
+$23.1M
2
IRWD icon
Ironwood Pharmaceuticals
IRWD
+$11.1M
3
CHTP
CHELSEA THERAPEUTICS INT'L LTD
CHTP
+$4.35M
4
KERX
Keryx Biopharmaceuticals Inc
KERX
+$4.25M
5
XNCR icon
Xencor
XNCR
+$1.04M

Sector Composition

Rank Sector Weight
1 Healthcare 66.29%
2 Miscellaneous 33.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GWPH
1
DELISTED
GW Pharmaceuticals Plc American Depositary Shares
GWPH
$33.5M 17.88%
311,853
-332,523
-52% -$23.1M
ANAC
2
DELISTED
ANACOR PHARMACEUTICALS INC COM
ANAC
$27.4M 14.65%
1,545,999
– –
BCRX icon
3
BioCryst Pharmaceuticals
BCRX
$2.52B
$22.2M 11.89%
1,744,356
– –
DYAX
4
DELISTED
DYAX CORPORATION
DYAX
$19.2M 10.27%
2,000,859
– –
HRTX icon
5
Heron Therapeutics
HRTX
$63M
$13.5M 7.21%
1,095,734
– –
KERX
6
DELISTED
Keryx Biopharmaceuticals Inc
KERX
$10.8M 5.76%
700,273
-300,000
-30% -$4.25M
LRMR icon
7
Larimar Therapeutics
LRMR
$421M
$10.7M 5.72%
+45,123
New +$10.7M
AVDL
8
DELISTED
Avadel Pharmaceuticals
AVDL
$7.5M 4.01%
500,000
– –
RDUS
9
DELISTED
Radius Health, Inc.
RDUS
$6.83M 3.65%
+525,000
New +$4.85M
OCRX
10
DELISTED
Ocera Therapeutics, Inc.
OCRX
$5.38M 2.87%
703,730
– –
NBSE
11
DELISTED
NeuBase Therapeutics, Inc. Common Stock
NBSE
$4.54M 2.42%
+1,193
New +$4.49M
NBIX icon
12
Neurocrine Biosciences
NBIX
$15.8B
$4.5M 2.41%
303,503
– –
TXMD icon
13
TherapeuticsMD
TXMD
$25.7M
$3.74M 2%
16,930
– –
ZSPH
14
DELISTED
ZS PHARMA INC COMS TK (DE)
ZSPH
$2.88M 1.54%
+100,000
New +$2.83M
ALXA
15
DELISTED
Alexza Pharmaceuticals Inc
ALXA
$1.13M 0.61%
247,812
– –
LPCN icon
16
Lipocine
LPCN
$18.4M
$867K 0.46%
+8,359
New +$1,000K
IRWD icon
17
Ironwood Pharmaceuticals
IRWD
$701M
– –
-1,074,600
Closed -$11.1M
XNCR icon
18
Xencor
XNCR
$2.15B
– –
-88,400
Closed -$1.04M
ARAV
19
DELISTED
Aravive, Inc. Common Stock
ARAV
– –
-3,167
Closed -$571K
CHTP
20
DELISTED
CHELSEA THERAPEUTICS INT'L LTD
CHTP
– –
-788,370
Closed -$4.35M

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KC
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RSCM
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ZC
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TF
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SAM
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NA
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NCIM
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VHCP Management's Q2 2014 Portfolio in Review

As of Q2 2014, VHCP Management held 21 positions worth $187M, down 2.7% from $192M the previous quarter. Its ten largest holdings account for 88% of the portfolio.

VHCP Management withdrew a net $20.5M in Q2 2014, closing 4 positions and reducing 2 holdings. Its most notable exit was Ironwood Pharmaceuticals, an estimated $11.1M position sold in full.

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

Against the trend, VHCP Management opened a new position in Larimar Therapeutics worth $10.7M.

  • VHCP Management's largest Q2 2014 buy was Larimar Therapeutics: 45,123 shares worth $10.7M.
  • VHCP Management's biggest Q2 2014 reduction was GW Pharmaceuticals Plc American Depositary Shares, cutting an estimated $23.1M.
  • VHCP Management fully exited Ironwood Pharmaceuticals in Q2 2014, selling an estimated $11.1M.
  • VHCP Management's ten largest holdings make up 88% of its $187M portfolio in Q2 2014.
  • VHCP Management opened 5 new positions and closed 4 in Q2 2014.
  • VHCP Management's portfolio value fell 2.7% quarter-over-quarter to $187M.

Based on VHCP Management's 13F filing for Q2 2014, filed 13 Aug 2014.