Vhcp Management Iii 13F annual report
Vhcp Management Iii is an investment fund managing more than $504 million ran by David Stepp. There are currently 18 companies in Mr. Stepp’s portfolio. The largest investments include Axsome Therapeutics and Constellation Pharmaceuticals, together worth $279 million.
$504 million Assets Under Management (AUM)
As of 7th October 2020, Vhcp Management Iii’s top holding is 1,547,994 shares of Axsome Therapeutics currently worth over $160 million and making up 31.8% of the portfolio value.
Relative to the number of outstanding shares of Axsome Therapeutics, Vhcp Management Iii owns more than approximately 0.1% of the company.
In addition, the fund holds 2,516,242 shares of Constellation Pharmaceuticals worth $119 million, whose value fell 31.7% in the past six months.
The third-largest holding is Milestone Pharmaceuticals worth $33.1 million and the next is Relmada Therapeutics worth $30 million, with 767,938 shares owned.
Currently, Vhcp Management Iii's portfolio is worth at least $504 million. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Vhcp Management Iii
The Vhcp Management Iii office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, David Stepp serves as the Authorized Signatory at Vhcp Management Iii.
Recent trades
In the most recent 13F filing, Vhcp Management Iii revealed that it had opened a new position in
Relmada Therapeutics and bought 767,938 shares worth $30 million.
This means they effectively own approximately 0.1% of the company.
Relmada Therapeutics makes up
6.5%
of the fund's Health Care sector allocation and has grown its share price by 230.4% in the past year.
The investment fund also strengthened its position in Constellation Pharmaceuticals by buying
2,449,575 additional shares.
This makes their stake in Constellation Pharmaceuticals total 2,516,242 shares worth $119 million.
Constellation Pharmaceuticals soared 148.6% in the past year.
On the other hand, there are companies that Vhcp Management Iii is getting rid of from its portfolio.
Vhcp Management Iii closed its position in Ra Pharmaceuticals on 13th February 2020.
It sold the previously owned 670,350 shares for $15.9 million.
David Stepp also disclosed a decreased stake in Axsome Therapeutics by approximately 0.1%.
This leaves the value of the investment at $160 million and 1,547,994 shares.
One of the average hedge funds
The two most similar investment funds to Vhcp Management Iii are Rr Partners L.P. and Ubs Ag, New York Branch. They manage $504 million and $503 million respectively.
David Stepp investment strategy
Vhcp Management Iii’s portfolio is diversified across 2 sectors.
Currently, their heaviest sector is Health Care — making up 91.4% of
the total portfolio value.
The fund focuses on investments in the United States as
72.2% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are small-cap stocks.
Stocks with a size of more than $100 million in market cap make up
6% of the total holdings value.
On the other hand, large-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $787 million.
The complete list of Vhcp Management Iii trades based on 13F SEC filings
These positions were updated on February 13th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Axsome Therapeutics, Inc. |
3.93%
1,547,994
|
$160,001,000 | 31.77% |
| Constellation Pharmaceuticals, Inc. |
3,674.34%
2,516,242
|
$118,540,000 | 23.54% |
| Milestone Pharmaceuticals, Inc. |
No change
2,066,529
|
$33,085,000 | 6.57% |
| Relmada Therapeutics, Inc. |
Opened
767,938
|
$29,950,000 | 5.95% |
| 89bio, Inc. |
Opened
958,765
|
$25,206,000 | 5.00% |
| 10x Genomics Inc. |
No change
300,000
|
$22,875,000 | 4.54% |
| Forty Seven Inc |
Opened
516,381
|
$20,330,000 | 4.04% |
| Intra-Cellular Therapies, Inc. |
Opened
575,000
|
$19,728,000 | 3.92% |
| Ra Pharmaceuticals |
Closed
670,350
|
$15,854,000 | |
| IVERIC bio, Inc. |
Opened
1,699,797
|
$14,584,000 | 2.90% |
| KalVista Pharmaceuticals, Inc. |
2.82%
619,905
|
$11,041,000 | 2.19% |
| La Jolla Pharmaceuticals |
Closed
1,251,898
|
$11,017,000 | |
| Adverum Biotechnologies, Inc. |
Opened
946,234
|
$10,901,000 | 2.16% |
| Marinus Pharmaceuticals, Inc. |
99.36%
5,016,164
|
$10,835,000 | 2.15% |
| Mersana Therapeutics, Inc. |
Opened
1,561,389
|
$8,947,000 | 1.78% |
| BioCryst Pharmaceuticals, Inc. |
Closed
2,708,207
|
$7,759,000 | |
| Myovant Sciences Ltd. |
Opened
455,255
|
$7,066,000 | 1.40% |
| NextCure, Inc. |
Opened
119,693
|
$6,742,000 | 1.34% |
| ObsEva SA |
30.14%
810,264
|
$3,095,000 | 0.61% |
| Tricida, Inc. |
Closed
80,348
|
$2,480,000 | |
| Kiniksa Pharmaceuticals Ltd. |
Closed
277,137
|
$2,358,000 | |
| Radius Health, Inc. |
Closed
23,131
|
$596,000 | |
| Protagonist Therapeutics, Inc. |
92.45%
80,929
|
$571,000 | 0.11% |
| Proteostasis Therapeutics, Inc. |
Closed
221,267
|
$187,000 | |
| Bellerophon Therapeutics, Inc. |
84.12%
383,955
|
$134,000 | 0.03% |
| Prevail Therapeutics, Inc. |
Closed
4,408
|
$54,000 | |
| No transactions found | |||
| Showing first 500 out of 26 holdings | |||
Hedge funds similar to Vhcp Management Iii
- Mount Lucas Management L.P.
- Heartwood Wealth Advisors
- Ordinal Manageco, L.P.
- United Asset Strategies
- Astor Investment Management
- Thomas White International Ltd
- Rr Partners L.P.
- Ubs Ag, New York Branch
- Intrust Bank Na
- Putnam Investment Management
- Arden Trust Co
- Pm Capital Ltd
- Stairway Partners
- Pura Vida Investments