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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
+24.62%
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
$306M
AUM Growth
+$1.8M
Cap. Flow
-$42.9M
Cap. Flow %
-14.03%
Top 10 Hldgs %
55.29%
Holding
87
New
18
Increased
13
Reduced
20
Closed
35

Top Buys

Rank Stock Value
1
BHVN icon
Biohaven
BHVN
+$8.55M
2
ARGX icon
argenx
ARGX
+$5.82M
3
SRPT icon
Sarepta Therapeutics
SRPT
+$5.76M
4
GPCR icon
Structure Therapeutics
GPCR
+$5.44M
5
ROIV icon
Roivant Sciences
ROIV
+$5.22M

Top Sells

Rank Stock Value
1
MLTX icon
MoonLake Immunotherapeutics
MLTX
+$12.9M
2
TGTX icon
TG Therapeutics
TGTX
+$8.72M
3
ALPN
Alpine Immune Sciences Inc
ALPN
+$7.6M
4
MDGL icon
Madrigal Pharmaceuticals
MDGL
+$7.44M
5
ASND icon
Ascendis Pharma A/S
ASND
+$6.48M

Sector Composition

Rank Sector Weight
1 Healthcare 56.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BLUE
51
DELISTED
bluebird bio
BLUE
$642K 0.21%
+23,250
New +$1.42M
VRNA
52
DELISTED
Verona Pharma
VRNA
$596K 0.2%
30,000
-15,000
-33% -$221K
ABOS icon
53
Acumen Pharmaceuticals
ABOS
$163M
– –
-150,000
Closed -$623K
AKRO
54
CALL
DELISTED
Akero Therapeutics
AKRO
– –
-250,000
Closed -$12.6M
AKRO
55
DELISTED
Akero Therapeutics
AKRO
– –
-115,000
Closed -$5.82M
AMLX icon
56
Amylyx Pharmaceuticals
AMLX
$1.97B
– –
-215,000
Closed -$3.3M
BMEA icon
57
Biomea Fusion
BMEA
$92.5M
– –
-65,000
Closed -$894K
ETNB
58
DELISTED
89bio
ETNB
– –
-30,000
Closed -$463K
FOLD
59
DELISTED
Amicus Therapeutics
FOLD
– –
-175,000
Closed -$2.13M
IMVT icon
60
Immunovant
IMVT
$8.27B
– –
-130,000
Closed -$4.99M
IMVT icon
61
PUT
Immunovant
IMVT
$8.27B
– –
-85,000
Closed -$3.26M
LEGN icon
62
Legend Biotech
LEGN
$4.31B
– –
-22,500
Closed -$1.51M
MLTX icon
63
PUT
MoonLake Immunotherapeutics
MLTX
$1.64B
– –
-250,000
Closed -$14.3M
MRSN
64
DELISTED
Mersana Therapeutics
MRSN
– –
-2,450
Closed -$77.8K
RCKT icon
65
CALL
Rocket Pharmaceuticals
RCKT
$376M
– –
-295,000
Closed -$6.04M
RCUS icon
66
Arcus Biosciences
RCUS
$3.44B
– –
-75,000
Closed -$1.35M
REPL icon
67
CALL
Replimune Group
REPL
$859M
– –
-250,000
Closed -$4.28M
RNAM
68
DELISTED
Avidity Biosciences
RNAM
– –
-65,000
Closed -$415K
SLRN
69
DELISTED
ACELYRIN
SLRN
– –
-200,000
Closed -$2.03M
SLRN
70
PUT
DELISTED
ACELYRIN
SLRN
– –
-200,000
Closed -$2.03M
SNDX icon
71
Syndax Pharmaceuticals
SNDX
$2.02B
– –
-200,000
Closed -$2.9M
SNDX icon
72
PUT
Syndax Pharmaceuticals
SNDX
$2.02B
– –
-300,000
Closed -$4.36M
SRPT icon
73
CALL
Sarepta Therapeutics
SRPT
$1.82B
– –
-150,000
Closed -$18.2M
TVTX icon
74
Travere Therapeutics
TVTX
$5.27B
– –
-150,000
Closed -$1.34M
VKTX icon
75
Viking Therapeutics
VKTX
$4.31B
– –
-225,000
Closed -$2.49M
1 2
3
4

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SFA
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E
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OHCM
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MC
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BRA
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Ghost Tree Capital's Q4 2023 Portfolio in Review

As of Q4 2023, Ghost Tree Capital held 87 positions worth $306M, up 0.59% from $304M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Ghost Tree Capital withdrew a net $42.9M in Q4 2023, closing 35 positions and reducing 20 holdings. Its most notable exit was Alpine Immune Sciences Inc, an estimated $7.6M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 56% of assets, down from 68% a quarter earlier.

Against the trend, Ghost Tree Capital opened a new position in Biohaven worth $11.8M.

  • Ghost Tree Capital's largest Q4 2023 buy was Biohaven: 275,000 shares worth $11.8M.
  • Ghost Tree Capital added most to argenx in Q4 2023, an estimated $5.82M increase.
  • Ghost Tree Capital's biggest Q4 2023 reduction was MoonLake Immunotherapeutics, cutting an estimated $12.9M.
  • Ghost Tree Capital fully exited Alpine Immune Sciences Inc in Q4 2023, selling an estimated $7.6M.
  • Ghost Tree Capital's ten largest holdings make up 55% of its $306M portfolio in Q4 2023.
  • Ghost Tree Capital opened 18 new positions and closed 35 in Q4 2023.
  • Ghost Tree Capital's portfolio value rose 0.59% quarter-over-quarter to $306M.

Based on Ghost Tree Capital's 13F filing for Q4 2023, filed 14 Feb 2024.