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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
-2.22%
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
$415M
AUM Growth
-$201M
Cap. Flow
-$160M
Cap. Flow %
-38.55%
Top 10 Hldgs %
36.85%
Holding
112
New
24
Increased
13
Reduced
25
Closed
42

Top Buys

Rank Stock Value
1
SHPG
Shire pic
SHPG
+$17.7M
2
MRK icon
Merck
MRK
+$13.8M
3
SGEN
Seagen Inc. Common Stock
SGEN
+$9.02M
4
ICPT
Intercept Pharmaceuticals, Inc.
ICPT
+$8.34M
5
MNK
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
+$7.95M

Top Sells

Rank Stock Value
1
EW icon
Edwards Lifesciences
EW
+$10.2M
2
CLVS
Clovis Oncology, Inc.
CLVS
+$9.85M
3
CYNO
Cynosure, Inc. Class A
CYNO
+$7.64M
4
PACB icon
Pacific Biosciences
PACB
+$6.72M
5
ENTA icon
Enanta Pharmaceuticals
ENTA
+$6.65M

Sector Composition

Rank Sector Weight
1 Healthcare 73.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CYH icon
76
CALL
Community Health Systems
CYH
$465M
– –
-250,000
Closed -$2.88M
DVAX
77
CALL
DELISTED
Dynavax Technologies
DVAX
– –
-200,000
Closed -$2.1M
ENTA icon
78
Enanta Pharmaceuticals
ENTA
$400M
– –
-250,000
Closed -$6.65M
EW icon
79
Edwards Lifesciences
EW
$49.4B
– –
-255,000
Closed -$10.2M
EXAS
80
DELISTED
Exact Sciences
EXAS
– –
-150,000
Closed -$2.79M
IBB icon
81
PUT
iShares Biotechnology ETF
IBB
$9.23B
– –
-300,000
Closed -$28.9M
IONS icon
82
CALL
Ionis Pharmaceuticals
IONS
$8.99B
– –
-150,000
Closed -$5.5M
IONS icon
83
Ionis Pharmaceuticals
IONS
$8.99B
– –
-25,000
Closed -$916K
IWM icon
84
PUT
iShares Russell 2000 ETF
IWM
$82.2B
– –
-225,000
Closed -$27.9M
MRK icon
85
CALL
Merck
MRK
$315B
– –
-157,200
Closed -$9.36M
NVAX icon
86
CALL
Novavax
NVAX
$1.35B
– –
-20,000
Closed -$832K
NVAX icon
87
PUT
Novavax
NVAX
$1.35B
– –
-10,000
Closed -$416K
PACB icon
88
Pacific Biosciences
PACB
$447M
– –
-750,000
Closed -$6.72M
PBYI icon
89
Puma Biotechnology
PBYI
$434M
– –
-150,000
Closed -$6.49M
RCKT icon
90
Rocket Pharmaceuticals
RCKT
$376M
– –
-42,500
Closed -$1.21M
SRPT icon
91
Sarepta Therapeutics
SRPT
$1.82B
– –
-150,000
Closed -$6.02M
SRPT icon
92
PUT
Sarepta Therapeutics
SRPT
$1.82B
– –
-400,000
Closed -$24.6M
SYRE icon
93
Spyre Therapeutics
SYRE
$8.7B
– –
-2,000
Closed -$321K
TMO icon
94
Thermo Fisher Scientific
TMO
$198B
– –
-20,000
Closed -$3.18M
TNDM icon
95
Tandem Diabetes Care
TNDM
$1.17B
– –
-15,000
Closed -$1.15M
TVTX icon
96
Travere Therapeutics
TVTX
$5.27B
– –
-250,000
Closed -$5.59M
TXMD icon
97
TherapeuticsMD
TXMD
$23.8M
– –
-5,000
Closed -$1.7M
ISEE
98
PUT
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
– –
-43,600
Closed -$2.01M
SIOX
99
DELISTED
Sio Gene Therapies Inc. Common Stock
SIOX
– –
-50,000
Closed -$5.6M
AERI
100
CALL
DELISTED
Aerie Pharmaceuticals
AERI
– –
-300,000
Closed -$11.3M
1 2 3
4
5

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Ghost Tree Capital's Q4 2016 Portfolio in Review

As of Q4 2016, Ghost Tree Capital held 112 positions worth $415M, down 33% from $617M the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Ghost Tree Capital withdrew a net $160M in Q4 2016, closing 42 positions and reducing 25 holdings. Its most notable exit was Edwards Lifesciences, an estimated $10.2M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 73% of assets, up from 51% a quarter earlier.

Against the trend, Ghost Tree Capital opened a new position in Shire pic worth $17M.

  • Ghost Tree Capital's largest Q4 2016 buy was Shire pic: 100,000 shares worth $17M.
  • Ghost Tree Capital added most to AveXis, Inc. Common Stock in Q4 2016, an estimated $7.93M increase.
  • Ghost Tree Capital's biggest Q4 2016 reduction was Clovis Oncology, Inc., cutting an estimated $9.85M.
  • Ghost Tree Capital fully exited Edwards Lifesciences in Q4 2016, selling an estimated $10.2M.
  • Ghost Tree Capital's ten largest holdings make up 37% of its $415M portfolio in Q4 2016.
  • Ghost Tree Capital opened 24 new positions and closed 42 in Q4 2016.
  • Ghost Tree Capital's portfolio value fell 33% quarter-over-quarter to $415M.

Based on Ghost Tree Capital's 13F filing for Q4 2016, filed 14 Feb 2017.