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GTC
Ghost Tree Capital Portfolio holdings
AUM
$331M
Turnover
44%
1-Year Est. Return
70.11%
This Fund
S&P 500
This Quarter Est. Return
+8.55%
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
$481M
AUM Growth
-$55.4M
(-10%)
Cap. Flow
-$46.4M
Cap. Flow % of AUM
Cap. Flow %
-9.64%
Top 10 Holdings %
Top 10 Hldgs %
37.24%
Holding
92
New
28
Increased
9
Reduced
23
Closed
26
Avg Time Held
Equity + Options
0.4
years
Top 10 Avg Time Held
Equity + Options
0.2
years
Top 20 Avg Time Held
Equity + Options
0.2
years
Avg Time Held Equity only
0.5
years
Top 10 Avg Time Held Equity only
0.2
years
Top 20 Avg Time Held Equity only
0.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
GWPH
GW Pharmaceuticals Plc American Depositary Shares
GWPH
|
+$13.5M |
| 2 |
NEVRO CORP.
NVRO
|
+$13.2M |
| 3 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$11.6M |
| 4 |
ENDP
Endo International plc
ENDP
|
+$8.8M |
| 5 |
Insmed
INSM
|
+$8.11M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CLVS
Clovis Oncology, Inc.
CLVS
|
+$12.2M |
| 2 |
Vertex Pharmaceuticals
VRTX
|
+$9.8M |
| 3 |
Merck
MRK
|
+$9.6M |
| 4 |
ELGX
Endologix Inc
ELGX
|
+$9.41M |
| 5 |
ONCE
Spark Therapeutics, Inc. Common Stock
ONCE
|
+$9.22M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 69.73% |
| 2 | Miscellaneous | 30.27% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
CLVS
1
CALL
DELISTED
Clovis Oncology, Inc.
CLVS
| $28.2M | 5.86% |
+301,000
| New | +$18.4M |
2017 Q2
0 quarters
|
|
2
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.7B
| $27M | 5.61% |
350,000
-550,000
| -61% | -$39M |
2016 Q1
5 quarters
|
|
|
PTLA
3
PUT
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
| $22.5M | 4.67% |
+400,000
| New | +$16M |
2017 Q2
0 quarters
|
|
4
CALL
Bristol-Myers Squibb
BMY
$125B
| $16.7M | 3.48% |
300,000
+150,000
| +100% | +$8.16M |
2016 Q3
3 quarters
|
|
|
AVXS
5
DELISTED
AveXis, Inc. Common Stock
AVXS
| $15.6M | 3.24% |
190,000
+15,000
| +9% | +$1.12M |
2016 Q3
3 quarters
|
|
|
SGEN
6
DELISTED
Seagen Inc. Common Stock
SGEN
| $15.5M | 3.23% |
300,000
+100,000
| +50% | +$6.36M |
2016 Q4
2 quarters
|
|
7
DBV Technologies S.A. American Depositary Shares
DBVT
$652M
| $15.2M | 3.15% |
42,500
-7,500
| -15% | -$2.56M |
2016 Q3
3 quarters
|
|
8
Puma Biotechnology
PBYI
$565M
| $13.1M | 2.73% |
150,000
-75,000
| -33% | -$4.2M |
2017 Q1
1 quarter
|
|
|
9
CALL
Merck
MRK
$352B
| $12.8M | 2.66% |
+209,600
| New | +$12.8M |
2017 Q2
0 quarters
|
|
|
GWPH
10
DELISTED
GW Pharmaceuticals Plc American Depositary Shares
GWPH
| $12.5M | 2.6% |
+125,000
| New | +$13.5M |
2017 Q2
0 quarters
|
|
|
11
DELISTED
NEVRO CORP.
NVRO
| $12.3M | 2.55% |
+165,000
| New | +$13.2M |
2017 Q2
0 quarters
|
|
|
ALXN
12
DELISTED
Alexion Pharmaceuticals
ALXN
| $12.2M | 2.53% |
+100,000
| New | +$11.6M |
2017 Q2
0 quarters
|
|
|
PTLA
13
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
| $11.2M | 2.34% |
200,000
| – | – |
2017 Q1
1 quarter
|
|
|
IMMU
14
DELISTED
Immunomedics Inc
IMMU
| $10.6M | 2.2% |
1,200,000
-300,000
| -20% | -$2.11M |
2016 Q2
4 quarters
|
|
15
Zimmer Biomet
ZBH
$18.3B
| $10.3M | 2.14% |
82,400
-20,600
| -20% | -$2.44M |
2016 Q3
3 quarters
|
|
|
GNMK
16
DELISTED
GenMark Diagnostics, Inc
GNMK
| $9.8M | 2.03% |
825,000
+175,000
| +27% | +$2.24M |
2017 Q1
1 quarter
|
|
|
ENDP
17
DELISTED
Endo International plc
ENDP
| $8.38M | 1.74% |
+750,000
| New | +$8.8M |
2017 Q2
0 quarters
|
|
|
JUNO
18
DELISTED
Juno Therapeutics, Inc.
JUNO
| $8.22M | 1.71% |
+275,000
| New | +$6.79M |
2017 Q2
0 quarters
|
|
|
19
Insmed
INSM
$20.7B
| $8.15M | 1.69% |
+475,000
| New | +$8.11M |
2017 Q2
0 quarters
|
|
|
ACOR
20
DELISTED
Acorda Therapeutics
ACOR
| $7.88M | 1.64% |
3,333
+833
| +33% | +$1.65M |
2016 Q2
4 quarters
|
|
|
NUVA
21
DELISTED
NuVasive, Inc.
NUVA
| $7.69M | 1.6% |
100,000
-20,000
| -17% | -$1.49M |
2014 Q3
11 quarters
|
|
|
SPNC
22
CALL
DELISTED
Spectranetics Corp
SPNC
| $7.68M | 1.6% |
200,000
-125,000
| -38% | -$3.61M |
2017 Q1
1 quarter
|
|
23
Acadia Pharmaceuticals
ACAD
$3.48B
| $7.67M | 1.59% |
275,000
-75,000
| -21% | -$2.24M |
2016 Q3
3 quarters
|
|
24
PUT
Exelixis
EXEL
$16.2B
| $7.39M | 1.54% |
+300,000
| New | +$6.35M |
2017 Q2
0 quarters
|
|
25
Enanta Pharmaceuticals
ENTA
$357M
| $7.2M | 1.5% |
200,000
-100,000
| -33% | -$3.2M |
2017 Q1
1 quarter
|
|
Similar funds
AFS
E
Ghost Tree Capital's Q2 2017 Portfolio in Review
As of Q2 2017, Ghost Tree Capital held 92 positions worth $481M, down 10% from $537M the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Ghost Tree Capital withdrew a net $46.4M in Q2 2017, closing 26 positions and reducing 23 holdings. Its most notable exit was Clovis Oncology, Inc., an estimated $12.2M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 70% of assets, up from 69% a quarter earlier, followed by Miscellaneous.
Against the trend, Ghost Tree Capital opened a new position in GW Pharmaceuticals Plc American Depositary Shares worth $12.5M.
- Ghost Tree Capital's largest Q2 2017 buy was GW Pharmaceuticals Plc American Depositary Shares: 125,000 shares worth $12.5M.
- Ghost Tree Capital added most to Seagen Inc. Common Stock in Q2 2017, an estimated $6.36M increase.
- Ghost Tree Capital's biggest Q2 2017 reduction was Spark Therapeutics, Inc. Common Stock, cutting an estimated $9.22M.
- Ghost Tree Capital fully exited Clovis Oncology, Inc. in Q2 2017, selling an estimated $12.2M.
- Ghost Tree Capital's ten largest holdings make up 37% of its $481M portfolio in Q2 2017.
- Ghost Tree Capital opened 28 new positions and closed 26 in Q2 2017.
- Ghost Tree Capital's portfolio value fell 10% quarter-over-quarter to $481M.
Based on Ghost Tree Capital's 13F filing for Q2 2017, filed 14 Aug 2017.