Managers / Q1 2023 · view latest →
Athyrium Capital Management, LP
CIK 0001728001 · 505 FIFTH AVENUE, FLOOR 18, NEW YORK, NY, 10017 · 212-402-6925
Summary
Athyrium Capital Management, LP reported $279M in U.S.-listed holdings across 8 positions for Q1 2023.
The portfolio is heavily concentrated: Amryt Pharma alone accounts for 46.3% of reported value.
Compared with Q4 2022, the fund opened 1 new position and exited 4.
Portfolio Metrics
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
Portfolio Composition
- Other · 53.9% · $150M
- US DOMESTIC · 44.1% · $123M
- Common Stock · 2.0% · $6M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| Biora Inc. | NEW | +1.69M | 1.69M | +$5M | $5M |
| CAREMAX INC | SOLD OUT | −4.47M | 0 | −$16M | $0 |
| BridgeBio Pharma Inc. | SOLD OUT | −20.00M | 0 | −$8M | $0 |
| Biora Inc. | SOLD OUT | −42.36M | 0 | −$6M | $0 |
| RAHSocietal CDMO Inc. | SOLD OUT | −2.20M | 0 | −$3M | $0 |
| Omeros Corp | TRIMMED | −10.00M | 11.01M | −$9M | $11M |
| Omeros Corp | ADDED | +7.00M | 65.14M | +$15M | $47M |
| Amryt Pharma PLC | HELD | +0 | 8.86M | +$64M | $129M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | Amryt Pharma PLC | Sponsored ADS | 46.27% | $129M | 8.86M |
| 2 | Biora Inc. | Note 7.250% 12/0 · COM | 22.49% | $63M | 105.19M |
| 3 | Omeros Corp | NOTE 5.250% 2/1 · NOTE 6.250%11/1 | 20.64% | $58M | 76.14M |
| 4 | RVL PHARMACEUTICALS PLC | SHS | 5.96% | $17M | 14.60M |
| 5 | Paratek Pharmaceuticals Inc. | NOTE 4.750% 5/0 | 2.66% | $7M | 9.00M |
| 6 | PBYIPUMA BIOTECHNOLOGY INChistory → | COM | 1.98% | $6M | 1.79M |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2024 | $9M | 2 | Nov 12, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $34M | 3 | Aug 8, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $73M | 3 | May 16, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $69M | 3 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $114M | 6 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $154M | 7 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $279M | 8 | May 16, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q4 2022 | $238M | 11 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $267M | 11 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $238M | 11 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $281M | 10 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $280M | 6 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $158M | 5 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $240M | 5 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $198M | 4 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $208M | 3 | Feb 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $5M | 1 | Nov 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $9M | 1 | Aug 14, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $98M | 2 | May 15, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $104M | 3 | Feb 12, 2019 | 13F-HR | changes · 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 ↗.