SEC 13F Intelligence

Managers / Q2 2019 · view latest →

VHCP Management II, LLC

CIK 0001602263 · 7 BRYANT PARK, 23RD FLOOR, NEW YORK, NY, 10018 · 650 475 3734

Reported Value
$317M
Q2 2019
Positions
21
Filings on Record
4
2019–present window
Filed
Aug 13, 2019
original filing

Summary

Vhcp Management II, LLC reported $317M in U.S.-listed holdings across 21 positions for Q2 2019.

Its largest position, ASND, represents 18.3% of the portfolio.

Compared with Q1 2019, the fund opened 1 new position and exited 1.

Portfolio Metrics

Turnover
+15.3%
vs prior filed quarter
Top-10 Concentration
+86.6%
share of reported value
Largest Position
+18.3%
Ascendis Pharma A S
New / Exited
1 / 1
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $342MQ1 ’19Q2 ’19: $317MQ2 ’19Q3 ’19: $262MQ3 ’19Q4 ’19: $379MQ4 ’19filingsflow.com

Portfolio Composition

By security type
Common Stock: 76.0%Other: 24.0%
  • Common Stock · 76.0% · $241M
  • Other · 24.0% · $76M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MISTMilestone Pharmaceuticals IncNEW+148.6K148.6K+$4M$4M
Orchard RX LtdSOLD OUT−12.4K0−$221,000$0
KDMNKadmon Holdings Inc.TRIMMED−570.7K249.5K−$2M$514,000
Proteostasis Therapeutics IncTRIMMED−296.4K130.7K−$410,000$128,000
PTGXProtagonist Therapeutics IncADDED+155.4K426.8K+$2M$5M
AXSMAxsome Therapeutics IncADDED+321.0K892.9K+$15M$23M
Tricida IncTRIMMED−534.0K428.7K−$20M$17M
LJPCLa Jolla PharmaceuticalsADDED+146.7K518.1K+$2M$5M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2019

21 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ASNDAscendis Pharma A/Shistory →COM18.30%$58M504.2K
2Shockwave Medical IncCOM16.22%$51M901.3K
3Biohaven PharmaceuticalsCOM13.29%$42M962.9K
4Obseva SACOM8.03%$25M2.25M
5AXSMAxsome Therapeutics Inchistory →COM7.25%$23M892.9K
6Ra PharmaceuticalsCOM6.42%$20M677.2K
7ZogenixCOM5.45%$17M362.0K
8Tricida IncCOM5.33%$17M428.7K
9BCRXBioCryst Pharmaceuticals Inchistory →COM3.43%$11M2.87M
10CNSTConstellation Pharmaceuticalshistory →COM2.81%$9M726.7K
11Kalvista PharmaceuticalsCOM2.63%$8M376.9K
12Kiniksa Pharmaceuticals LtdCOM2.60%$8M609.1K
13SPROSpero Therapeutics Inchistory →COM1.72%$5M474.0K
14PTGXProtagonist Therapeutics Inchistory →COM1.63%$5M426.8K
15LJPCLa Jolla Pharmaceuticalshistory →COM1.51%$5M518.1K
16MISTMilestone Pharmaceuticals Inchistory →COM1.27%$4M148.6K
17Marinus Pharmaceuticals IncCOM0.97%$3M743.9K
18Bellerophon TherapeuticsCOM0.79%$2M4.15M
19KDMNKadmon Holdings Inc.COM0.16%$514,000249.5K
20Gemphire TherapeuticsCOM0.12%$382,000471.5K
21Proteostasis Therapeutics IncCOM0.04%$128,000130.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q4 2019$379M20Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$262M21Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$317M21Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$342M21May 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.