Ghost Tree Capital’s Smith & Nephew SNN Stock Holding History

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-30,000	Closed	-$1.1M	–	70
2014 Q4	$1.1M	Sell	30,000 -7,500	-20%	-$276K	0.53%	45
2014 Q3	$1.26M	Sell	37,500 -12,500	-25%	-$421K	0.69%	44
2014 Q2	$1.79M	Buy	+50,000	New	+$1.79M	1.26%	26