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Scholar Rock
SRRK

41 hedge funds and large institutions have $308M invested in Scholar Rock in 2018 Q4 according to their latest regulatory filings, with 9 funds opening new positions, 16 increasing their positions, 10 reducing their positions, and 5 closing their positions.

New
Increased
Maintained
Reduced
Closed

80% more first-time investments, than exits

New positions opened: 9 | Existing positions closed: 5

60% more repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 10

11% more funds holding

Funds holding: 37 → 41 (+4)

1.14% more ownership

Funds ownership: 51.92% → 53.06% (+1.1%)

8% less capital invested

Capital invested by funds: $334M → $308M (-$26.2M)

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

Holders
41
Holders Change
+4
Holders Change %
+10.81%
% of All Funds
0.91%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.02%
New
9
Increased
16
Reduced
10
Closed
5
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
BB
BB Biotech
Switzerland
+$24.7M
2
Vanguard Group
Vanguard Group
Pennsylvania
+$3.6M
3
JP Morgan Chase
JP Morgan Chase
New York
+$2.13M
4
State Street
State Street
Massachusetts
+$1.04M
5
Millennium Management
Millennium Management
New York
+$882K

Top Sellers

Rank Fund Capital Flow
1
EC
EcoR1 Capital
California
-$20.2M
2
SFM
Sphera Funds Management
Israel
-$2.74M
3
AG
Artal Group
Luxembourg
-$2.26M
4
Victory Capital Management
Victory Capital Management
Texas
-$591K
5
LCM
Laurion Capital Management
New York
-$386K
Name Holding Trade Value Shares
Change 		Change in
Stake
Fidelity Investments
1
Fidelity Investments
Massachusetts
$87M -$25K -1,104 -0%
AG
2
Artal Group
Luxembourg
$52.7M -$2.26M -100,000 -4%
RG
3
Redmile Group
California
$40.5M -$265K -11,700 -0.7%
EC
4
EcoR1 Capital
California
$33.9M -$20.2M -893,150 -38%
BB
5
BB Biotech
Switzerland
$29.4M +$24.7M +1,090,021 +574%
T. Rowe Price Associates
6
T. Rowe Price Associates
Maryland
$19.1M +$34.2K +1,512 +0.2%
Vanguard Group
7
Vanguard Group
Pennsylvania
$8.97M +$3.6M +158,997 +69%
BlackRock
8
BlackRock
New York
$8.49M +$32.7K +1,447 +0.4%
Norges Bank
9
Norges Bank
Norway
$5.86M – – –
CAM
10
Cormorant Asset Management
Massachusetts
$4.83M – – –
SFM
11
Sphera Funds Management
Israel
$4.03M -$2.74M -121,345 -41%
State Street
12
State Street
Massachusetts
$2.27M +$1.04M +45,800 +87%
JP Morgan Chase
13
JP Morgan Chase
New York
$2.19M +$2.13M +94,069 +6,528%
Geode Capital Management
14
Geode Capital Management
Massachusetts
$1.84M +$639K +28,276 +55%
Northern Trust
15
Northern Trust
Illinois
$1.6M +$85.7K +3,791 +6%
Victory Capital Management
16
Victory Capital Management
Texas
$1.46M -$591K -26,130 -29%
Millennium Management
17
Millennium Management
New York
$896K +$882K +39,012 New
TD Asset Management
18
TD Asset Management
Ontario, Canada
$431K -$27.1K -1,200 -6%
Bank of New York Mellon
19
Bank of New York Mellon
New York
$413K +$98.7K +4,365 +32%
Charles Schwab
20
Charles Schwab
California
$309K – – –
Morgan Stanley
21
Morgan Stanley
New York
$271K +$43.6K +1,929 +20%
California State Teachers Retirement System (CalSTRS)
22
California State Teachers Retirement System (CalSTRS)
California
$224K +$7.73K +342 +4%
Deutsche Bank
23
Deutsche Bank
Germany
$185K -$135K -5,975 -42%
New York State Common Retirement Fund
24
New York State Common Retirement Fund
New York
$147K +$145K +6,400 New
Wells Fargo
25
Wells Fargo
California
$135K +$113K +4,993 +567%
1
2

SRRK Hedge Fund Activity: Q4 2018 in Review

41 of the 4,489 institutional investors tracked by Wall St. Rank reported a position in Scholar Rock (SRRK) for Q4 2018, worth a combined $308M — down 7.8% from $334M a quarter earlier.

Buyers outnumbered sellers: 9 funds opened new SRRK positions and 5 closed out — a net gain of 4 holders — while 16 added to existing stakes and 10 trimmed.

The largest buyer was BB Biotech, adding an estimated $24.7M. The largest seller was EcoR1 Capital, cutting an estimated $20.2M.

  • 41 institutional investors held Scholar Rock (SRRK) as of Q4 2018, up from 37 in Q3 2018.
  • Funds reported $308M of Scholar Rock stock for Q4 2018, down 7.8% quarter-over-quarter.
  • 9 funds opened new Scholar Rock positions in Q4 2018 and 5 closed out, a net change of +4 holders.
  • The largest Scholar Rock buyer in Q4 2018 was BB Biotech, an estimated $24.7M added.
  • The largest Scholar Rock seller in Q4 2018 was EcoR1 Capital, an estimated $20.2M sold.

Based on aggregated 13F filings for Q4 2018.