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GTC

Ghost Tree Capital Portfolio holdings

AUM $331M
1-Year Est. Return 70.11%
This Fund
S&P 500
This Quarter Est. Return
+6.88%
1 Year Est. Return
+70.11%
3 Year Est. Return
+265.05%
5 Year Est. Return
+3,034.98%
10 Year Est. Return
+22,104.75%
AUM
$142M
AUM Growth
-$26.6M
Cap. Flow
-$33.6M
Cap. Flow %
-23.69%
Top 10 Hldgs %
45.91%
Holding
93
New
28
Increased
12
Reduced
11
Closed
39

Top Buys

1
AGN
Allergan plc
AGN
+$6.21M
2
MDVN
MEDIVATION, INC.
MDVN
+$5.39M
3
COO icon
Cooper Companies
COO
+$5.28M
4
BSX icon
Boston Scientific
BSX
+$5.2M
5
TEVA icon
Teva Pharmaceuticals
TEVA
+$5.11M

Top Sells

1
PRTA icon
Prothena Corp
PRTA
+$4.21M
2
BMY icon
Bristol-Myers Squibb
BMY
+$4.16M
3
CHTP
CHELSEA THERAPEUTICS INT'L LTD
CHTP
+$3.31M
4
ARWR icon
Arrowhead Research
ARWR
+$3.04M
5
AVDL
Avadel Pharmaceuticals
AVDL
+$2.71M

Sector Composition

1 Healthcare 59.79%
2 Technology 0.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
REGN icon
26
Regeneron Pharmaceuticals
REGN
$70.9B
$2.12M 1.49%
+7,500
New +$2.22M
AMAG
27
DELISTED
AMAG Pharmaceuticals
AMAG
$2.07M 1.46%
100,000
-92,057
-48% -$1.7M
FOLD
28
DELISTED
Amicus Therapeutics
FOLD
$2M 1.41%
+600,000
New +$1.41M
SNN icon
29
Smith & Nephew
SNN
$12.9B
$1.79M 1.26%
+50,000
New +$1.64M
EW icon
30
Edwards Lifesciences
EW
$49.4B
$1.72M 1.21%
120,000
-60,000
-33% -$813K
ASRT
31
DELISTED
Assertio
ASRT
$1.67M 1.18%
2,000
+333
+20% +$257K
ASRT
32
PUT
DELISTED
Assertio
ASRT
$1.67M 1.18%
+2,000
New +$1.54M
NPSP
33
CALL
DELISTED
NPS PHARMACEUTICALS INC
NPSP
$1.65M 1.17%
+50,000
New +$1.44M
OREX
34
DELISTED
Orexigen Therapeutics, Inc.
OREX
$1.54M 1.09%
+25,000
New +$1.45M
RCPT
35
DELISTED
RECEPTOS INC COM STK (DE)
RCPT
$1.49M 1.05%
+35,000
New +$1.21M
NPSP
36
DELISTED
NPS PHARMACEUTICALS INC
NPSP
$1.32M 0.93%
+40,000
New +$1.16M
ACHN
37
CALL
DELISTED
Achillion Pharmaceuticals
ACHN
$1.14M 0.8%
+150,000
New +$599K
AVDL
38
DELISTED
Avadel Pharmaceuticals
AVDL
$1.13M 0.79%
75,000
-225,000
-75% -$2.71M
CPRX icon
39
Catalyst Pharmaceutical
CPRX
$1.11M 0.78%
437,296
+237,296
+119% +$507K
TXMD icon
40
TherapeuticsMD
TXMD
$23.8M
$1.1M 0.78%
5,000
+1,000
+25% +$223K
INO icon
41
PUT
Inovio Pharmaceuticals
INO
$92.1M
$1.08M 0.76%
+8,333
New +$983K
CYNO
42
DELISTED
Cynosure, Inc. Class A
CYNO
$1.06M 0.75%
+50,000
New +$1.16M
NSTG
43
DELISTED
NanoString Technologies, Inc.
NSTG
$1.05M 0.74%
70,000
-5,000
-7% -$78.8K
AIRM
44
DELISTED
Air Methods Corp
AIRM
$1.03M 0.73%
+20,000
New +$1.02M
INFI
45
DELISTED
Infinity Pharmaceuticals, Inc.
INFI
$956K 0.67%
+75,000
New +$781K
UNIS
46
DELISTED
Unilife Corporation
UNIS
$888K 0.63%
30,000
-50,000
-63% -$1.57M
HRTX icon
47
Heron Therapeutics
HRTX
$89.1M
$862K 0.61%
+70,000
New +$836K
OCRX
48
DELISTED
Ocera Therapeutics, Inc.
OCRX
$764K 0.54%
100,000
-135,000
-57% -$1.08M
RVNC
49
DELISTED
Revance Therapeutics, Inc.
RVNC
$680K 0.48%
20,000
– –
BIOL
50
DELISTED
Biolase, Inc.
BIOL
$660K 0.47%
24
– –
1
2
3 4

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Ghost Tree Capital's Q2 2014 Portfolio in Review

As of Q2 2014, Ghost Tree Capital held 93 positions worth $142M, down 16% from $168M the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Ghost Tree Capital withdrew a net $33.6M in Q2 2014, closing 39 positions and reducing 11 holdings. Its most notable exit was Prothena Corp, an estimated $4.21M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 60% of assets, up from 45% a quarter earlier, followed by Technology.

Against the trend, Ghost Tree Capital opened a new position in Allergan plc worth $6.69M.

  • Ghost Tree Capital's largest Q2 2014 buy was Allergan plc: 30,000 shares worth $6.69M.
  • Ghost Tree Capital added most to AtriCure in Q2 2014, an estimated $2.33M increase.
  • Ghost Tree Capital's biggest Q2 2014 reduction was Avadel Pharmaceuticals, cutting an estimated $2.71M.
  • Ghost Tree Capital fully exited Prothena Corp in Q2 2014, selling an estimated $4.21M.
  • Ghost Tree Capital's ten largest holdings make up 46% of its $142M portfolio in Q2 2014.
  • Ghost Tree Capital opened 28 new positions and closed 39 in Q2 2014.
  • Ghost Tree Capital's portfolio value fell 16% quarter-over-quarter to $142M.

Based on Ghost Tree Capital's 13F filing for Q2 2014, filed 14 Aug 2014.