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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
+8.55%
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
$481M
AUM Growth
-$55.4M
Cap. Flow
-$94.9M
Cap. Flow %
-19.73%
Top 10 Hldgs %
37.24%
Holding
92
New
28
Increased
9
Reduced
23
Closed
26

Top Buys

1
GWPH
GW Pharmaceuticals Plc American Depositary Shares
GWPH
+$13.5M
2
NVRO
NEVRO CORP.
NVRO
+$13.2M
3
ALXN
Alexion Pharmaceuticals
ALXN
+$11.6M
4
ENDP
Endo International plc
ENDP
+$8.8M
5
INSM icon
Insmed
INSM
+$8.11M

Top Sells

1
CLVS
Clovis Oncology, Inc.
CLVS
+$12.2M
2
VRTX icon
Vertex Pharmaceuticals
VRTX
+$9.84M
3
MRK icon
Merck
MRK
+$9.57M
4
ELGX
Endologix Inc
ELGX
+$9.41M
5
ONCE
Spark Therapeutics, Inc. Common Stock
ONCE
+$9.22M

Sector Composition

1 Healthcare 58.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NEOS
51
DELISTED
Neos Therapeutics, Inc
NEOS
$3.65M 0.76%
+500,000
New +$3.77M
BPMC
52
DELISTED
Blueprint Medicines
BPMC
$3.55M 0.74%
70,000
-30,000
-30% -$1.27M
RIGL icon
53
Rigel Pharmaceuticals
RIGL
$750M
$3M 0.62%
110,000
– –
ALDR
54
DELISTED
Alder Biopharmaceuticals
ALDR
$2.86M 0.6%
+250,000
New +$4.62M
SNDX icon
55
Syndax Pharmaceuticals
SNDX
$2.02B
$2.79M 0.58%
+200,000
New +$2.29M
XLRN
56
DELISTED
Acceleron Pharma
XLRN
$2.73M 0.57%
90,000
-310,000
-78% -$8.98M
ITCI
57
DELISTED
Intra-Cellular Therapies Inc.
ITCI
$2.48M 0.52%
200,000
+50,000
+33% +$580K
IRIX icon
58
IRIDEX
IRIX
$16.3M
$2.47M 0.51%
250,000
– –
RVNC
59
DELISTED
Revance Therapeutics, Inc.
RVNC
$2.36M 0.49%
+89,295
New +$1.99M
EPZM
60
DELISTED
Epizyme, Inc
EPZM
$2.27M 0.47%
150,000
-450,000
-75% -$6.8M
QTNT
61
DELISTED
Quotient Limited Ordinary Shares
QTNT
$2.21M 0.46%
+7,500
New +$2.12M
ONCE
62
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
$2.09M 0.43%
35,000
-165,000
-83% -$9.22M
RARX
63
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
$1.59M 0.33%
85,000
-215,000
-72% -$4.85M
ZGNX
64
DELISTED
Zogenix, Inc.
ZGNX
$1.45M 0.3%
100,000
-265,000
-73% -$3.33M
BOLD
65
DELISTED
Audentes Therapeutics, Inc
BOLD
$957K 0.2%
+50,000
New +$799K
FOMX
66
DELISTED
Foamix Pharmaceuticals Ltd. Ordinary Shares
FOMX
$580K 0.12%
125,000
– –
ACAD icon
67
PUT
Acadia Pharmaceuticals
ACAD
$4.38B
– –
-207,200
Closed -$7.12M
AGIO icon
68
Agios Pharmaceuticals
AGIO
$2.36B
– –
-125,000
Closed -$7.3M
AKTX
69
Akari Therapeutics
AKTX
$19.3M
– –
-58
Closed -$516K
COLL icon
70
Collegium Pharmaceutical
COLL
$1.17B
– –
-375,000
Closed -$3.77M
FXF icon
71
Invesco CurrencyShares Swiss Franc Trust
FXF
$420M
– –
-19,300
Closed -$1.83M
INCY icon
72
Incyte
INCY
$23.4B
– –
-35,000
Closed -$4.68M
IWM icon
73
PUT
iShares Russell 2000 ETF
IWM
$82.2B
– –
-250,000
Closed -$34.4M
MRK icon
74
Merck
MRK
$315B
– –
-157,200
Closed -$9.57M
PRTA icon
75
Prothena Corp
PRTA
$453M
– –
-100,000
Closed -$5.58M
1 2
3
4

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Ghost Tree Capital's Q2 2017 Portfolio in Review

As of Q2 2017, Ghost Tree Capital held 92 positions worth $481M, down 10% from $537M the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Ghost Tree Capital withdrew a net $94.9M in Q2 2017, closing 26 positions and reducing 23 holdings. Its most notable exit was Clovis Oncology, Inc., an estimated $12.2M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 59% of assets, down from 60% a quarter earlier.

Against the trend, Ghost Tree Capital opened a new position in GW Pharmaceuticals Plc American Depositary Shares worth $12.5M.

  • Ghost Tree Capital's largest Q2 2017 buy was GW Pharmaceuticals Plc American Depositary Shares: 125,000 shares worth $12.5M.
  • Ghost Tree Capital added most to Seagen Inc. Common Stock in Q2 2017, an estimated $6.36M increase.
  • Ghost Tree Capital's biggest Q2 2017 reduction was Spark Therapeutics, Inc. Common Stock, cutting an estimated $9.22M.
  • Ghost Tree Capital fully exited Clovis Oncology, Inc. in Q2 2017, selling an estimated $12.2M.
  • Ghost Tree Capital's ten largest holdings make up 37% of its $481M portfolio in Q2 2017.
  • Ghost Tree Capital opened 28 new positions and closed 26 in Q2 2017.
  • Ghost Tree Capital's portfolio value fell 10% quarter-over-quarter to $481M.

Based on Ghost Tree Capital's 13F filing for Q2 2017, filed 14 Aug 2017.