According to the latest 13F filing of Sio Capital, a global equity market healthcare hedge fund, the investment advisory has further increased its exposure in the healthcare industry. Its recent SEC 13F filing reported an equity portfolio worth $195.76 million, with nearly 90% of the portfolio comprising of healthcare stocks. The hedge fund led by Michael Castor had an active second quarter, having initiated 21 new positions and closed its stakes in 20 stocks. The top 10 stock positions of Sio Capital accounted for 56.40% of the overall portfolio value at the end of June.
In this article, we are going to discuss some of the latest stock positions initiated by Sio Capital during the June quarter, and their recent stock market performances.
We track hedge funds and prominent investors because our research has shown that historically their stock picks delivered superior risk-adjusted returns. This is especially true in the small-cap space. The 15 most popular small-cap stocks delivered a monthly alpha of 80 basis points in our back tests that covered the period between 1999 and 2012 (see the details here).
ChemoCentryx Inc (NASDAQ:CCXI)
– Shares held by Sio Capital (as of June 30): 642,828
– Value of Sio Capital’s stake (as of June 30): $2.89 million
Sio Capital initiated a new position in ChemoCentryx Inc (NASDAQ:CCXI), which amassed 1.45% of its equity portfolio at the end of the second quarter. Among the funds that we track at Insider Monkey, Connective Capital Management initiated the largest position in the biopharmaceutical company, owning 191,881 shares valued at $861,000, according to its recent 13F filing. The stock of ChemoCentryx Inc (NASDAQ:CCXI) slid by around 10% at the beginning of September after the company reported initial results from an ongoing phase Ib clinical trial for a drug designed to inhibit advanced pancreatic cancer. The clinical trials reported an overall response rate of 37% among the patients participating in the study, hence triggering a negative stock market response.