New York City-based Iguana Healthcare Management was founded by Stuart Weisbrod in 2010. The fund invests in pharmaceuticals, biotechnology, medical devices, diagnostics, healthcare services and healthcare IT companies, and has an estimated $113 million of assets under management. Dr. Weisbrod was the founder of the Merlin BioMed Group and served as its chief investment officer from January 1998 until it closed in December 2007. The funds managed by Dr. Weisbrod at Merlin BioMed returned a compounded annualized return of over 20%. He began his buy-side career at Harpel Advisors in 1994 as a Partner, responsible for the firm’s healthcare and cyclical investment activities.
In the latest round of 13F filings, Iguana has released its first 13F. The fund has revealed a total of 22 positions, and the value of its equity portfolio amounted to more than $175 million. Healthcare stocks represent 80% of the portfolio.
From Iguana’s equity portfolio, we have picked the top five holdings in term of value. The first one is Amgen Inc. (NASDAQ:AMGN), in which the fund owns 100,000 shares, with a reported value of more than $11 million. The company is engaged in discovering, developing, manufacturing and delivering human therapeutics.
The next is Merck & Co. Inc. (NYSE:MRK), in which the fund disclosed holding 175,000 shares, worth nearly $9 million. Merck & Co. Inc. (NYSE:MRK) is a global healthcare company working to help the world be well. The company, through its prescription medicines, vaccines, biologic therapies, and consumer care and animal health products, is working with customers and operate in more than 140 countries.
The third largest holding is Biogen Idec Inc (NASDAQ:BIIB), in which Iguana holds 30,000 shares. The value of the position is close to $9 million. Biogen Idec discovers, develops, manufactures and markets therapies for the treatment of neurodegenerative diseases, hemophilia and autoimmune disorders.
On the fourth spot is Zimmer Holdings Inc. (NYSE:ZMH). Iguana reported ownership of 80,000 shares of the company, with a valued at more than $8 million. The company designs, develops, manufactures and markets orthopaedic reconstructive, spinal and trauma devices, dental implants, and related surgical products.
Coming fifth is Gilead Sciences Inc. (NASDAQ:GILD), a biopharmaceutical company that discovers, develops and commercializes innovative therapeutics in areas of unmet medical need. The fund holds 85,000 shares, worth over $6 million.