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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
+71.88%
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
$449M
AUM Growth
+$103M
(+30%)
Cap. Flow
-$16.7M
Cap. Flow
% of AUM
-3.72%
Top 10 Holdings %
Top 10 Hldgs %
50.85%
Holding
61
New
14
Increased
9
Reduced
13
Closed
18
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Syndax Pharmaceuticals
SNDX
|
+$19.2M |
| 2 |
APLS
Apellis Pharmaceuticals
APLS
|
+$13.7M |
| 3 |
Cogent Biosciences
COGT
|
+$12.1M |
| 4 |
Travere Therapeutics
TVTX
|
+$11.1M |
| 5 |
FPRX
Five Prime Therapeutics, Inc.
FPRX
|
+$6.26M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ADVM
Adverum Biotechnologies
ADVM
|
+$12M |
| 2 |
Immunovant
IMVT
|
+$10.4M |
| 3 |
MRSN
Mersana Therapeutics
MRSN
|
+$10M |
| 4 |
Aurinia Pharmaceuticals
AUPH
|
+$8.1M |
| 5 |
Agios Pharmaceuticals
AGIO
|
+$6.13M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 83.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Moderna
MRNA
$24.5B
| – | – |
-10,000
| Closed | -$1.01M |
|
52
NextCure
NXTC
$24.4M
| – | – |
-33,333
| Closed | -$3.52M |
|
|
RAPT
53
DELISTED
RAPT Therapeutics
RAPT
| – | – |
-14,375
| Closed | -$3.7M |
|
54
Regenxbio
RGNX
$511M
| – | – |
-75,000
| Closed | -$2.06M |
|
55
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.4B
| – | – |
-451,000
| Closed | -$50.3M |
|
56
Q32 Bio
QTTB
$255M
| – | – |
-7,500
| Closed | -$1.45M |
|
|
RETA
57
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
| – | – |
-30,000
| Closed | -$2.92M |
|
|
IMV
58
DELISTED
IMV Inc. Common Shares
IMV
| – | – |
-32,500
| Closed | -$1.44M |
|
|
MYOV
59
DELISTED
Myovant Sciences Ltd.
MYOV
| – | – |
-250,000
| Closed | -$3.51M |
|
|
CCXI
60
DELISTED
ChemoCentryx, Inc.
CCXI
| – | – |
-4,500
| Closed | -$247K |
|
|
BMY.RT
61
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
| – | – |
-125,000
| Closed | -$281K |
|
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Ghost Tree Capital's Q4 2020 Portfolio in Review
As of Q4 2020, Ghost Tree Capital held 61 positions worth $449M, up 30% from $346M the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Ghost Tree Capital withdrew a net $16.7M in Q4 2020, closing 18 positions and reducing 13 holdings. Its most notable exit was Adverum Biotechnologies, an estimated $12M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 83% of assets, up from 77% a quarter earlier.
Against the trend, Ghost Tree Capital opened a new position in Apellis Pharmaceuticals worth $18.6M.
- Ghost Tree Capital's largest Q4 2020 buy was Apellis Pharmaceuticals: 325,000 shares worth $18.6M.
- Ghost Tree Capital added most to Syndax Pharmaceuticals in Q4 2020, an estimated $19.2M increase.
- Ghost Tree Capital's biggest Q4 2020 reduction was Immunovant, cutting an estimated $10.4M.
- Ghost Tree Capital fully exited Adverum Biotechnologies in Q4 2020, selling an estimated $12M.
- Ghost Tree Capital's ten largest holdings make up 51% of its $449M portfolio in Q4 2020.
- Ghost Tree Capital opened 14 new positions and closed 18 in Q4 2020.
- Ghost Tree Capital's portfolio value rose 30% quarter-over-quarter to $449M.
Based on Ghost Tree Capital's 13F filing for Q4 2020, filed 16 Feb 2021.