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Tamarack Capital Management’s Return, AUM, and Holdings

Tamarack Capital Management is a hedge fund that was founded by Mr. Justin John Ferayorni, its current Chief Investment Officer and Portfolio Manager. Before deciding to start his own firm, Mr. Ferayorni built up serious experience in investing, working as a Healthcare Analyst and Portfolio Manager, and later own as a Director of Research at Bricoleur Capital Management, LLC. Prior to joining Bricoleur Capital Management, Mr. Ferayorni worked at Robertson Stephens & Company’s investment banking division. He graduated with honors, earning an A.B. degree in Chemistry from Princeton University, and he also earned his Chartered Financial Analyst designation in 2000.

Tamarack Capital Management’s Return, AUM, and Holdings

The fund employs a long/short investment strategy, with the main focus on the companies in the US healthcare sector. It uses integral bottom-up analyses to track the stocks that are worthy of investment. Tamarack Capital Management stays away from pre-commercial biotech-type companies. Its Tamarack Global Healthcare Fund, LP had some very good years in terms of return. It delivered a great 33.92% in 2013, 18.77% in 2014, 2.23% in 2015. Then in 2016, it lost 9.12%, only to come back more powerful next year with a return of 29.91%. 2018 was also a lucky year for the fund as it has generated a return of 9.51% (since January through October 29th). Thanks to its high quarterly returns generated from their investments in the companies with market caps above $1.0 billion, Tamarack Capital Management was the 20thbest performing hedge fund in our database in the third quarter of 2018. On March 31, 2017, the fund held $240 million in discretionary assets under management, as disclosed in its plain brochure.

Insider Monkey’s flagship strategy identifies the best performing 100 hedge funds at the end of each quarter and invests in their consensus stock picks. This way it is always invested in the best ideas of the best performing hedge funds and is able to generate much higher returns than the market. Since its inception in May 2014, our flagship strategy generated a cumulative return of 96.9%, beating the S&P 500 ETF (SPY) by over 40 percentage points (see the details here).

Tamarack Capital Management’s equity portfolio was valued at $350.23 million at the end of the third quarter of 2018. Among 30 holdings in it, there wasn’t a single company from 30 Most Popular Stocks Among Hedge Funds in Q3 of 2018, which means that its picks distinguish from the most favorite stocks. The biggest position it held was in NuVasive, Inc. (NASDAQ:NUVA), a medical device company, and it included 525,000 shares with a value of $37.42 million, accounting for 10.68% of its portfolio. During the third quarter, Tamarack Capital Management initiated two and dumped three common long positions. More about these portfolio changes you can read on the next page.

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