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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
-19.99%
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
$177M
AUM Growth
-$67.5M
Cap. Flow
-$24.6M
Cap. Flow %
-13.91%
Top 10 Hldgs %
45.17%
Holding
74
New
27
Increased
–
Reduced
22
Closed
22

Top Buys

1
CELG
Celgene Corp
CELG
+$9.29M
2
BSX icon
Boston Scientific
BSX
+$7.9M
3
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$7.44M
4
ISEE
IVERIC bio, Inc. Common Stock
ISEE
+$6.11M
5
AGIO icon
Agios Pharmaceuticals
AGIO
+$5.99M

Top Sells

1
AMGN icon
Amgen
AMGN
+$12.2M
2
SGEN
Seagen Inc. Common Stock
SGEN
+$10.1M
3
MNK
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
+$10.1M
4
ZLTQ
ZELTIQ Aesthetics, Inc.
ZLTQ
+$7.85M
5
BLUE
bluebird bio
BLUE
+$7.71M

Sector Composition

1 Healthcare 61.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DBVT
26
DBV Technologies
DBVT
$870M
$2.58M 1.46%
4,500
-3,500
-44% -$982K
ACAD icon
27
Acadia Pharmaceuticals
ACAD
$4.38B
$2.1M 1.19%
75,000
-175,000
-70% -$3.82M
WMGI
28
DELISTED
Wright Medical Group Inc
WMGI
$2.08M 1.17%
125,000
-375,000
-75% -$6.95M
PTLA
29
CALL
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
$2.04M 1.15%
+100,000
New +$3.17M
STJ
30
DELISTED
St Jude Medical
STJ
$2.01M 1.14%
+36,500
New +$1.99M
VRTX icon
31
Vertex Pharmaceuticals
VRTX
$123B
$2.01M 1.14%
+25,253
New +$2.28M
ENTL
32
DELISTED
Entellus Medical, Inc. Common Stock
ENTL
$2M 1.13%
110,000
-40,000
-27% -$647K
MDT icon
33
Medtronic
MDT
$106B
$1.99M 1.13%
+26,578
New +$2M
ACHN
34
DELISTED
Achillion Pharmaceuticals
ACHN
$1.93M 1.09%
250,000
-350,000
-58% -$2.56M
VCYT icon
35
Veracyte
VCYT
$4.72B
$1.84M 1.04%
341,708
-8,292
-2% -$49K
CYNA
36
DELISTED
CYNAPSUS THERAPEUTICS INC COM PAR NO PAR (CANADA)
CYNA
$1.8M 1.02%
151,535
-95
-0.1% -$1.27K
GNMK
37
DELISTED
GenMark Diagnostics, Inc
GNMK
$1.58M 0.89%
300,000
-110,000
-27% -$612K
IHE icon
38
iShares US Pharmaceuticals ETF
IHE
$1.27B
$1.34M 0.76%
+29,400
New +$1.38M
TNDM icon
39
Tandem Diabetes Care
TNDM
$1.17B
$1.31M 0.74%
15,000
-20,000
-57% -$1.75M
IOVA icon
40
Iovance Biotherapeutics
IOVA
$2.23B
$1.27M 0.72%
+250,000
New +$1.37M
ARCT icon
41
Arcturus Therapeutics
ARCT
$172M
$1.14M 0.64%
42,857
-28,572
-40% -$967K
PTLA
42
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
$816K 0.46%
40,000
-190,000
-83% -$6.03M
CHMA
43
DELISTED
Chiasma, Inc. Common Stock
CHMA
$687K 0.39%
+75,000
New +$812K
ENDP
44
DELISTED
Endo International plc
ENDP
$678K 0.38%
+24,100
New +$1.14M
VTAE
45
DELISTED
VITAE PHARMACEUTICALS INC COMMON STOCK
VTAE
$671K 0.38%
101,188
-173,812
-63% -$1.58M
AKTX
46
Akari Therapeutics
AKTX
$19.3M
$653K 0.37%
58
-1
-2% -$10.4K
HRTX icon
47
Heron Therapeutics
HRTX
$89.1M
$475K 0.27%
+25,000
New +$493K
ADAP
48
DELISTED
Adaptimmune Therapeutics
ADAP
$407K 0.23%
50,000
-160,000
-76% -$1.31M
CLVS
49
DELISTED
Clovis Oncology, Inc.
CLVS
$355K 0.2%
+18,500
New +$392K
SBBP
50
DELISTED
Strongbridge Biopharma plc.
SBBP
$332K 0.19%
72,726
– –
1
2
3

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SFA
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Ghost Tree Capital's Q1 2016 Portfolio in Review

As of Q1 2016, Ghost Tree Capital held 74 positions worth $177M, down 28% from $244M the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Ghost Tree Capital withdrew a net $24.6M in Q1 2016, closing 22 positions and reducing 22 holdings. Its most notable exit was Amgen, an estimated $12.2M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 62% of assets, down from 90% a quarter earlier.

Against the trend, Ghost Tree Capital opened a new position in Celgene Corp worth $9.03M.

  • Ghost Tree Capital's largest Q1 2016 buy was Celgene Corp: 90,202 shares worth $9.03M.
  • Ghost Tree Capital's biggest Q1 2016 reduction was NuVasive, Inc., cutting an estimated $7.26M.
  • Ghost Tree Capital fully exited Amgen in Q1 2016, selling an estimated $12.2M.
  • Ghost Tree Capital's ten largest holdings make up 45% of its $177M portfolio in Q1 2016.
  • Ghost Tree Capital opened 27 new positions and closed 22 in Q1 2016.
  • Ghost Tree Capital's portfolio value fell 28% quarter-over-quarter to $177M.

Based on Ghost Tree Capital's 13F filing for Q1 2016, filed 13 May 2016.