Tamarack Capital Management’s Return, AUM, and Holdings

The second biggest position the fund disclosed on September 30, 2018, was in Novocure Ltd (NASDAQ:NVCR), and after the fund had lowered it by 43%, it counted 635,000 shares, worth $33.42 million, accounting for 9.54% of its equity portfolio. This is a commercial-stage oncology company that works on inventing new treatments for solid tumors. Over the past 12 months, the company’s stock gained 86.14%, and at the moment of writing, it is trading at  $39.09. In its latest financial report for the full year 2018, preliminary net revenues were of $248 million, up by 40% from 2017. Whereas Q4 2018 net revenues stood at $69.6 million, compared to $53.7 million in Q4 of 2017. Smart money investors from Insider Monkey’s database were more bullish on Novoucre in the previous months with the number of those with long positions in the company being 20 at the end of Q3 2018, compared to 17 in Q2 2018. The company has a market cap of $3.57 billion.

Tamarack Capital Management initiated the biggest new position during the third quarter of 2018 in Glaukos Corp (NYSE:GKOS) by obtaining 75,000 shares outstanding, which were worth $4.87 million. This is a glaucoma treatment company, that offers a progressive iStent surgery for those who suffer from cataract and glaucoma problems. Over the past six months, the company’s stock gained 32.36%, and at the moment of writing this article it is trading at $56.65. The second largest new position during the third quarter, the fund disclosed in a software company, Model N Inc (NYSE:MODN). Tamarack Capital Management obtained 100,000 Model N’s shares that were valued $1.59 million.  At the end of Q3 2018, there were 14 hedge funds bullish on the stock, down from 17 in Q2 2018.

The biggest position the fund decided to drop during the third quarter of 2018 was in DENTSPLY SIRONA Inc (NASDAQ:XRAY), and it counted 275,000 shares, with a value of $12.04 million. Tamarack Capital Management also said goodbye to its position in Luminex Corporation (NASDAQ:LMNX), which included 79,089 shares, worth around $2.34 million, and it also sold out its stake in Sientra Inc (NASDAQ:SIEN) that was big $2.44 million, on the account of 125,000 shares.

Disclosure: None

This article was originally published at Insider Monkey.