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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
+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
VTYX
76
DELISTED
Ventyx Biosciences
VTYX
– –
-35,000
Closed -$1.22M
XENE icon
77
Xenon Pharmaceuticals
XENE
$6.6B
– –
-98,951
Closed -$3.38M
ZNTL icon
78
Zentalis Pharmaceuticals
ZNTL
$364M
– –
-100,000
Closed -$2.01M
WHWK
79
Whitehawk Therapeutics
WHWK
$192M
– –
-250,000
Closed -$1.21M
MOR
80
DELISTED
MorphoSys AG American Depositary Shares
MOR
– –
-400,000
Closed -$2.69M
FUSN
81
DELISTED
Fusion Pharmaceuticals Inc. Common Shares
FUSN
– –
-243,287
Closed -$633K
ALPN
82
DELISTED
Alpine Immune Sciences Inc
ALPN
– –
-664,132
Closed -$7.6M
CBAY
83
CALL
DELISTED
Cymabay Therapeutics
CBAY
– –
-237,900
Closed -$3.55M
KRTX
84
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
– –
-12,500
Closed -$2.11M
IMGN
85
DELISTED
Immunogen Inc
IMGN
– –
-175,000
Closed -$2.78M
RAIN
86
DELISTED
Rain Oncology Inc. Common Stock
RAIN
– –
-325,000
Closed -$280K
MRTX
87
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
– –
-60,000
Closed -$2.61M
1 2 3
4

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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.