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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
+29.98%
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
$234M
AUM Growth
-$122M
Cap. Flow
-$150M
Cap. Flow %
-64.03%
Top 10 Hldgs %
57.93%
Holding
53
New
9
Increased
6
Reduced
20
Closed
18

Top Buys

1
QQQ icon
Invesco QQQ Trust
QQQ
+$13.8M
2
SGEN
Seagen Inc. Common Stock
SGEN
+$11M
3
IOVA icon
Iovance Biotherapeutics
IOVA
+$10.1M
4
ASND icon
Ascendis Pharma A/S
ASND
+$4.06M
5
AKRO
Akero Therapeutics
AKRO
+$3.64M

Top Sells

1
RLMD icon
Relmada Therapeutics
RLMD
+$15.7M
2
VRDN icon
Viridian Therapeutics
VRDN
+$8.52M
3
PCVX icon
Vaxcyte
PCVX
+$7.85M
4
RETA
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
+$7.74M
5
AMLX icon
Amylyx Pharmaceuticals
AMLX
+$7.1M

Sector Composition

1 Healthcare 94.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TCDA
51
CALL
DELISTED
Tricida, Inc. Common Stock
TCDA
– –
-500,000
Closed -$5.24M
TCDA
52
DELISTED
Tricida, Inc. Common Stock
TCDA
– –
-200,000
Closed -$2.1M
HZNP
53
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
– –
-75,000
Closed -$4.64M
1 2
3

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Ghost Tree Capital's Q4 2022 Portfolio in Review

As of Q4 2022, Ghost Tree Capital held 53 positions worth $234M, down 34% from $356M the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Ghost Tree Capital withdrew a net $150M in Q4 2022, closing 18 positions and reducing 20 holdings. Its most notable exit was Relmada Therapeutics, an estimated $15.7M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 94% of assets, up from 69% a quarter earlier.

Against the trend, Ghost Tree Capital opened a new position in Invesco QQQ Trust worth $13.3M.

  • Ghost Tree Capital's largest Q4 2022 buy was Invesco QQQ Trust: 50,000 shares worth $13.3M.
  • Ghost Tree Capital added most to Ascendis Pharma A/S in Q4 2022, an estimated $4.06M increase.
  • Ghost Tree Capital's biggest Q4 2022 reduction was Viridian Therapeutics, cutting an estimated $8.52M.
  • Ghost Tree Capital fully exited Relmada Therapeutics in Q4 2022, selling an estimated $15.7M.
  • Ghost Tree Capital's ten largest holdings make up 58% of its $234M portfolio in Q4 2022.
  • Ghost Tree Capital opened 9 new positions and closed 18 in Q4 2022.
  • Ghost Tree Capital's portfolio value fell 34% quarter-over-quarter to $234M.

Based on Ghost Tree Capital's 13F filing for Q4 2022, filed 14 Feb 2023.