Urogen Pharma Ltd (NASDAQ:URGN) is the largest healthcare position in Wildcat’s equity portfolio as of the end of 2017. The fund trimmed the stake by 5% and disclosed a $4.74 million holding containing 127,313 shares in its latest 13F filing. Wildcat added Urogen Pharma Ltd (NASDAQ:URGN) to its equity portfolio during the second quarter of last year, while the company went public at the beginning of May. Since the IPO, Urogen Pharma Ltd (NASDAQ:URGN)’s stock has surged by 242%. Urogen is an Israel-based clinical stage biopharmaceutical company that develops therapies for urological pathologies. In August, the US Food and Drug Administration designated the company’s MitoGel for Fast Track review for the patients with low-grade upper urinary tract urothelial carcinoma. Earlier this month, Urogen Pharma Ltd (NASDAQ:URGN) has appointed Stephen Mullenix as Chief Operating Officer, while in January it launched a 1.1 million-share stock offering. Urogen also caught the attention of Mitchell Blutt’s Consonance Capital, which initiated a stake containing 916,450 shares during the fourth quarter.
Sabine Royalty Trust (NYSE:SBR) is Wildcat Capital’s only energy investment, excluding a small ‘Call’ position underlying shares of United States Natural Gas Fund, LP (NYSEARCA:UNG). The fund also initiated a stake in Sabine Royalty Trust (NYSE:SBR) during the second quarter of 2017, while the stock has appreciated by 12% since the end of June. During the fourth quarter, Wildcat increased the stake in Sabine Royalty Trust by 28% to 239,317 shares worth $10.62 million. Sabine Royalty Trust (NYSE:SBR) has interests in gross production of oil, gas, and other minerals free of the costs of production. The Trust is paying a monthly dividend which amounts to $0.19 per share for February, down from $0.23 last month.
LPL Financial Holdings Inc (NASDAQ:LPLA) represents the second-largest position in Wildcat’s equity portfolio and it is also one of the oldest investments; the fund added LPL Financial Holdings to its equity portfolio during the fourth quarter of 2014. At the end of December, Wildcat owned 208,401 shares of LPL Financial Holdings Inc (NASDAQ:LPLA) worth $11.91 million. LPL Financial Holdings Inc (NASDAQ:LPLA)’s stock advanced by 62% during 2017. For the fourth quarter, LPL Financial Holdings Inc (NASDAQ:LPLA) posted EPS of $0.69, beating the consensus estimate by $0.13, while its net revenue of $1.12 billion increased by 10.9% on the year and was $20 million above expectations. Among the top shareholders of LPL Financial Holdings Inc (NASDAQ:LPLA) are John H. Scully’s SPO Advisory Corp and First Pacific Advisors, led by Robert Rodriguez and Steven Romick, which own 6.96 million shares and 4.22 million shares, respectively.
CoStar Group Inc (NASDAQ:CSGP) is Wildcat’s largest position as of the end of 2017. During the fourth quarter, the fund cut its stake in the company by 13% to 153,007 shares worth $45.44 million; the stake amasses over 48% of Wildcat’s equity portfolio. CoStar Group Inc (NASDAQ:CSGP)’s stock gained 57.50% during 2017. Wildcat Capital Management has held shares of CoStar Group Inc (NASDAQ:CSGP) since the fourth quarter of 2014. The company provides information, analytics and online marketplaces to commercial real estate, covering the US, the UK, Canada, Spain, Germany and France, owning five brands, CoStar, LoopNet, Apartments.com, BizBuySell and LandsofAmerica. Other investors bullish on CoStar Group Inc (NASDAQ:CSGP) include Bares Capital Management, Balyasny Asset Management, and Renaissance Technologies.
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