Broadfin Capital 13F annual report

Broadfin Capital is an investment fund managing more than $403 million ran by Kevin Kotler. There are currently 35 companies in Mr. Kotler’s portfolio. The largest investments include Biodelivery Sciences Intl In and ViewRay, together worth $50.7 million.

Limited to 30 biggest holdings

$403 million Assets Under Management (AUM)

As of 7th October 2020, Broadfin Capital’s top holding is 4,300,066 shares of Biodelivery Sciences Intl In currently worth over $27.2 million and making up 6.7% of the portfolio value. In addition, the fund holds 5,574,366 shares of ViewRay worth $23.5 million, whose value grew 21.3% in the past six months. The third-largest holding is Amarin Plc worth $22.5 million and the next is Biohaven Pharmactl Hldg Co L worth $22.3 million, with 409,338 shares owned.

Currently, Broadfin Capital's portfolio is worth at least $403 million. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Broadfin Capital

The Broadfin Capital office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Kevin Kotler serves as the Managing Member at Broadfin Capital.

Recent trades

In the most recent 13F filing, Broadfin Capital revealed that it had opened a new position in STAAR Surgical Co and bought 462,118 shares worth $16.3 million. This means they effectively own approximately 0.1% of the company. STAAR Surgical Co makes up 5.2% of the fund's Health Care sector allocation and has grown its share price by 128.8% in the past year.

The investment fund also strengthened its position in ViewRay by buying 2,573,005 additional shares. This makes their stake in ViewRay total 5,574,366 shares worth $23.5 million. ViewRay soared 26.1% in the past year.

On the other hand, there are companies that Broadfin Capital is getting rid of from its portfolio. Broadfin Capital closed its position in Allergan Plc on 14th February 2020. It sold the previously owned 96,504 shares for $16.2 million. Kevin Kotler also disclosed a decreased stake in Amarin Plc by 0.3%. This leaves the value of the investment at $22.5 million and 1,049,244 shares.

One of the average hedge funds

The two most similar investment funds to Broadfin Capital are M&r Capital Management Inc and Riverstone Group. They manage $403 million and $403 million respectively.

Kevin Kotler investment strategy

Broadfin Capital’s portfolio is diversified across 2 sectors. Currently, their heaviest sector is Health Care — making up 78.3% of the total portfolio value. The fund focuses on investments in the United States as 65.7% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are small-cap stocks. Stocks with a size of more than $100 million in market cap make up 9% of the total holdings value. On the other hand, large-cap stocks make up only 2.9% of the portfolio. The average market cap of the portfolio companies is close to $1.71 billion.

The complete list of Broadfin Capital trades based on 13F SEC filings

These positions were updated on February 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Biodelivery Sciences Intl In	No change 4,300,066	$27,176,000	6.75%
ViewRay, Inc.	85.73% 5,574,366	$23,524,000	5.84%
Amarin Corp. Plc	33.13% 1,049,244	$22,496,000	5.59%
Biohaven Pharmactl Hldg Co L	23.14% 409,338	$22,284,000	5.53%
Alkermes Plc	315.06% 1,033,500	$21,083,000	5.24%
Quotient Ltd.	225.09% 1,994,183	$18,965,000	4.71%
Eiger BioPharmaceuticals, Inc.	9.58% 1,236,368	$18,422,000	4.58%
STAAR Surgical Co.	Opened 462,118	$16,253,000	4.04%
Allergan Plc	Closed 96,504	$16,241,000
Intersect ENT, Inc.	19.01% 631,023	$15,712,000	3.90%
Progenics Pharmaceuticals In	93.25% 3,060,923	$15,580,000	3.87%
NanoString Technologies, Inc.	401.44% 555,600	$15,457,000	3.84%
Iovance Biotherapeutics, Inc.	52.85% 533,301	$14,762,000	3.67%
Dermira Inc	54.65% 896,334	$13,588,000	3.37%
Recro Pharma, Inc.	27.00% 721,073	$13,217,000	3.28%
Nevro Corp.	Closed 150,510	$12,939,000
Wright Med Group N V	Closed 618,500	$12,760,000
Lantheus Holdings, Inc.	Opened 617,953	$12,674,000	3.15%
Vapotherm, Inc.	Opened 1,003,099	$12,198,000	3.03%
AbbVie, Inc.	Closed 154,500	$11,699,000
Sientra, Inc.	35.71% 1,286,987	$11,506,000	2.86%
Vericel Corp.	161.63% 620,199	$10,791,000	2.68%
La Jolla Pharmaceutical Co.	1,378.23% 2,688,068	$10,564,000	2.62%
Alexion Pharmaceuticals, Inc.	Opened 83,100	$8,987,000	2.23%
Sol-Gel Technologies Ltd.	7.36% 521,819	$8,949,000	2.22%
Relmada Therapeutics, Inc.	Opened 220,724	$8,608,000	2.14%
Global Blood Therapeutics In	Closed 177,016	$8,589,000
Aurinia Pharmaceuticals, Inc.	Opened 400,000	$8,104,000	2.01%
Avadel Pharmaceuticals Plc	66.83% 1,029,012	$7,769,000	1.93%
Exicure, Inc.	17.13% 2,707,851	$7,744,000	1.92%
Retrophin, Inc.	Closed 610,414	$7,075,000
Zogenix, Inc.	2.25% 134,937	$7,034,000	1.75%
Strongbridge Biopharma Plc	Closed 2,578,003	$6,161,000
Icu Med Inc	No change 30,000	$5,614,000	1.39%
Exagen, Inc.	Closed 311,284	$4,822,000
Luminex Corp.	Opened 207,553	$4,807,000	1.19%
Catalyst Pharmaceuticals, Inc.	Closed 880,303	$4,674,000
Antares Pharma, Inc.	Closed 1,336,700	$4,471,000
SI-BONE, Inc.	Closed 223,291	$3,946,000
STRATA Skin Sciences, Inc.	36.94% 1,839,372	$3,826,000	0.95%
AnaptysBio, Inc.	Opened 221,600	$3,601,000	0.89%
Aclaris Therapeutics, Inc.	16.55% 1,888,039	$3,568,000	0.89%
GW Pharmaceuticals Plc	Closed 30,000	$3,451,000
Mylan N V	Opened 150,000	$3,015,000	0.75%
ADMA Biologics, Inc.	Closed 505,900	$2,251,000
Heron Therapeutics, Inc.	8.66% 89,730	$2,109,000	0.52%
SCYNEXIS, Inc.	Opened 2,000,000	$1,820,000	0.45%
AMAG Pharmaceuticals, Inc.	Closed 100,000	$1,155,000
Palatin Technologies, Inc.	No change 1,047,310	$819,000	0.20%
No transactions found
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