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Ghost Tree Capital Portfolio holdings

AUM $331M
1-Year Est. Return 70.11%
This Fund
S&P 500
This Quarter Est. Return
+20.25%
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
$537M
AUM Growth
+$121M
Cap. Flow
+$76M
Cap. Flow %
14.17%
Top 10 Hldgs %
39.95%
Holding
98
New
28
Increased
18
Reduced
12
Closed
34

Top Buys

1
NBIX icon
Neurocrine Biosciences
NBIX
+$12.9M
2
XLRN
Acceleron Pharma
XLRN
+$9.49M
3
ENTA icon
Enanta Pharmaceuticals
ENTA
+$9.34M
4
KDNY
Chinook Therapeutics, Inc. Common Stock
KDNY
+$9.04M
5
ACAD icon
Acadia Pharmaceuticals
ACAD
+$8.82M

Top Sells

1
ABT icon
Abbott
ABT
+$15.4M
2
ALXN
Alexion Pharmaceuticals
ALXN
+$14.1M
3
CELG
Celgene Corp
CELG
+$12.7M
4
SHPG
Shire pic
SHPG
+$12.2M
5
AERI
Aerie Pharmaceuticals
AERI
+$7.8M

Sector Composition

1 Healthcare 59.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PBYI icon
26
Puma Biotechnology
PBYI
$434M
$8.37M 1.56%
+225,000
New +$8.21M
GNMK
27
DELISTED
GenMark Diagnostics, Inc
GNMK
$8.33M 1.55%
+650,000
New +$7.82M
BMY icon
28
CALL
Bristol-Myers Squibb
BMY
$124B
$8.16M 1.52%
150,000
– –
NSTG
29
DELISTED
NanoString Technologies, Inc.
NSTG
$7.95M 1.48%
400,000
+150,000
+60% +$2.85M
PTLA
30
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
$7.84M 1.46%
+200,000
New +$6.37M
TSRO
31
CALL
DELISTED
TESARO, Inc.
TSRO
$7.69M 1.43%
+50,000
New +$8.14M
AGIO icon
32
Agios Pharmaceuticals
AGIO
$2.36B
$7.3M 1.36%
125,000
-15,000
-11% -$719K
ACAD icon
33
PUT
Acadia Pharmaceuticals
ACAD
$4.38B
$7.12M 1.33%
+207,200
New +$7.31M
SAGE
34
DELISTED
Sage Therapeutics
SAGE
$7.11M 1.32%
100,000
-100,000
-50% -$5.86M
NVDQ
35
DELISTED
Novadaq Technologies Inc.
NVDQ
$7.01M 1.31%
+900,000
New +$6.38M
RARX
36
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
$6.39M 1.19%
300,000
+225,000
+300% +$4.3M
ACOR
37
DELISTED
Acorda Therapeutics
ACOR
$6.3M 1.17%
2,500
+2,333
+1,397% +$6.72M
KTWO
38
DELISTED
K2M Group Holdings, Inc
KTWO
$5.84M 1.09%
+285,000
New +$5.85M
WMGI
39
DELISTED
Wright Medical Group Inc
WMGI
$5.76M 1.07%
185,000
+10,000
+6% +$271K
PRTA icon
40
Prothena Corp
PRTA
$453M
$5.58M 1.04%
+100,000
New +$5.25M
NXTM
41
DELISTED
NxStage Medical Inc.
NXTM
$5.37M 1%
+200,000
New +$5.52M
SHPG
42
DELISTED
Shire pic
SHPG
$5.23M 0.97%
30,000
-70,000
-70% -$12.2M
ENTL
43
DELISTED
Entellus Medical, Inc. Common Stock
ENTL
$5.17M 0.96%
375,000
+175,000
+88% +$2.81M
INCY icon
44
Incyte
INCY
$23.4B
$4.68M 0.87%
35,000
+22,000
+169% +$2.8M
SPNC
45
DELISTED
Spectranetics Corp
SPNC
$4.51M 0.84%
155,000
-180,000
-54% -$4.8M
BPMC
46
DELISTED
Blueprint Medicines
BPMC
$4M 0.75%
+100,000
New +$3.58M
ZGNX
47
DELISTED
Zogenix, Inc.
ZGNX
$3.96M 0.74%
365,000
+140,000
+62% +$1.42M
COLL icon
48
Collegium Pharmaceutical
COLL
$1.17B
$3.77M 0.7%
+375,000
New +$5.57M
NGNE icon
49
Neurogene
NGNE
$744M
$3.75M 0.7%
11,250
– –
RIGL icon
50
Rigel Pharmaceuticals
RIGL
$750M
$3.64M 0.68%
110,000
+40,000
+57% +$1.02M
1
2
3 4

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Ghost Tree Capital's Q1 2017 Portfolio in Review

As of Q1 2017, Ghost Tree Capital held 98 positions worth $537M, up 29% from $415M the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Ghost Tree Capital deployed $76M of net new capital in Q1 2017, opening 28 new positions and adding to 18 existing holdings. Its largest new stake was Neurocrine Biosciences: 300,000 shares worth $13M.

By sector, the portfolio is most concentrated in Healthcare at 60% of assets, down from 73% a quarter earlier.

On the sell side, the largest reduction was Shire pic, an estimated $12.2M trimmed.

  • Ghost Tree Capital's largest Q1 2017 buy was Neurocrine Biosciences: 300,000 shares worth $13M.
  • Ghost Tree Capital added most to Acceleron Pharma in Q1 2017, an estimated $9.49M increase.
  • Ghost Tree Capital's biggest Q1 2017 reduction was Shire pic, cutting an estimated $12.2M.
  • Ghost Tree Capital fully exited Abbott in Q1 2017, selling an estimated $15.4M.
  • Ghost Tree Capital's ten largest holdings make up 40% of its $537M portfolio in Q1 2017.
  • Ghost Tree Capital opened 28 new positions and closed 34 in Q1 2017.
  • Ghost Tree Capital's portfolio value rose 29% quarter-over-quarter to $537M.

Based on Ghost Tree Capital's 13F filing for Q1 2017, filed 15 May 2017.