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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
+26.31%
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
$471M
AUM Growth
-$10.2M
(-2.1%)
Cap. Flow
-$49.7M
Cap. Flow % of AUM
Cap. Flow %
-10.55%
Top 10 Holdings %
Top 10 Hldgs %
41.74%
Holding
94
New
28
Increased
11
Reduced
21
Closed
31
Avg Time Held
Equity + Options
0.5
years
Top 10 Avg Time Held
Equity + Options
0.2
years
Top 20 Avg Time Held
Equity + Options
0.3
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 |
Thermo Fisher Scientific
TMO
|
+$9.06M |
| 2 |
XLRN
Acceleron Pharma
XLRN
|
+$9.03M |
| 3 |
Vertex Pharmaceuticals
VRTX
|
+$7.53M |
| 4 |
IMMU
Immunomedics Inc
IMMU
|
+$7.44M |
| 5 |
GBT
Global Blood Therapeutics, Inc.
GBT
|
+$7.03M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SGEN
Seagen Inc. Common Stock
SGEN
|
+$15.5M |
| 2 |
PTLA
Portola Pharmaceuticals, Inc.
PTLA
|
+$11.2M |
| 3 |
Acadia Pharmaceuticals
ACAD
|
+$8.95M |
| 4 |
ENDP
Endo International plc
ENDP
|
+$8.38M |
| 5 |
GWPH
GW Pharmaceuticals Plc American Depositary Shares
GWPH
|
+$8.03M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 70.83% |
| 2 | Miscellaneous | 29.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.6B
| $30.3M | 6.43% |
350,000
| – | – |
2016 Q1
6 quarters
|
|
|
IMMU
2
DELISTED
Immunomedics Inc
IMMU
| $27.2M | 5.78% |
1,946,946
+746,946
| +62% | +$7.44M |
2016 Q2
5 quarters
|
|
|
ZGNX
3
PUT
DELISTED
Zogenix, Inc.
ZGNX
| $22.8M | 4.84% |
+650,000
| New | +$8.82M |
2017 Q3
0 quarters
|
|
|
ZGNX
4
DELISTED
Zogenix, Inc.
ZGNX
| $21M | 4.47% |
600,000
+500,000
| +500% | +$6.79M |
2016 Q3
4 quarters
|
|
|
AVXS
5
PUT
DELISTED
AveXis, Inc. Common Stock
AVXS
| $19.3M | 4.11% |
+200,000
| New | +$18M |
2017 Q3
0 quarters
|
|
6
DBV Technologies S.A. American Depositary Shares
DBVT
$694M
| $17.9M | 3.79% |
42,089
-411
| -1% | -$176K |
2016 Q3
4 quarters
|
|
|
7
PUT
DBV Technologies S.A. American Depositary Shares
DBVT
$694M
| $17.1M | 3.64% |
+40,350
| New | +$17.3M |
2017 Q3
0 quarters
|
|
|
ALXN
8
DELISTED
Alexion Pharmaceuticals
ALXN
| $14M | 2.98% |
100,000
| – | – |
2017 Q2
1 quarter
|
|
9
Neurocrine Biosciences
NBIX
$17.1B
| $13.8M | 2.93% |
225,000
+75,000
| +50% | +$3.96M |
2017 Q1
2 quarters
|
|
|
XLRN
10
DELISTED
Acceleron Pharma
XLRN
| $13.1M | 2.77% |
350,000
+260,000
| +289% | +$9.03M |
2016 Q4
3 quarters
|
|
11
DELISTED
NEVRO CORP.
NVRO
| $10.5M | 2.22% |
115,000
-50,000
| -30% | -$4.28M |
2017 Q2
1 quarter
|
|
12
DELISTED
Entellus Medical, Inc. Common Stock
ENTL
| $10.4M | 2.2% |
561,510
+186,510
| +50% | +$3.23M |
2015 Q4
7 quarters
|
|
13
Insmed
INSM
$25.5B
| $10.1M | 2.15% |
324,400
-150,600
| -32% | -$2.87M |
2017 Q2
1 quarter
|
|
|
AVXS
14
DELISTED
AveXis, Inc. Common Stock
AVXS
| $10.1M | 2.15% |
104,539
-85,461
| -45% | -$7.71M |
2016 Q3
4 quarters
|
|
15
CALL
Bristol-Myers Squibb
BMY
$127B
| $9.6M | 2.03% |
150,000
-150,000
| -50% | -$8.76M |
2016 Q3
4 quarters
|
|
|
16
Thermo Fisher Scientific
TMO
$267B
| $9.46M | 2.01% |
+50,000
| New | +$9.06M |
2017 Q3
0 quarters
|
|
|
17
CALL
Insmed
INSM
$25.5B
| $9.36M | 1.99% |
+300,000
| New | +$5.71M |
2017 Q3
0 quarters
|
|
18
PUT
DELISTED
Sage Therapeutics
SAGE
| $9.34M | 1.98% |
+150,000
| New | +$11.8M |
2017 Q3
0 quarters
|
|
|
GNMK
19
DELISTED
GenMark Diagnostics, Inc
GNMK
| $9.15M | 1.94% |
950,000
+125,000
| +15% | +$1.3M |
2017 Q1
2 quarters
|
|
20
Zimmer Biomet
ZBH
$20.5B
| $8.78M | 1.86% |
77,250
-5,150
| -6% | -$594K |
2016 Q3
4 quarters
|
|
21
Boston Scientific
BSX
$63.8B
| $8.02M | 1.7% |
275,000
+100,000
| +57% | +$2.76M |
2016 Q1
6 quarters
|
|
22
Puma Biotechnology
PBYI
$433M
| $7.78M | 1.65% |
65,000
-85,000
| -57% | -$7.91M |
2017 Q1
2 quarters
|
|
|
GBT
23
DELISTED
Global Blood Therapeutics, Inc.
GBT
| $7.76M | 1.65% |
+250,000
| New | +$7.03M |
2017 Q3
0 quarters
|
|
|
24
Vertex Pharmaceuticals
VRTX
$140B
| $7.6M | 1.61% |
+50,000
| New | +$7.53M |
2017 Q3
0 quarters
|
|
25
Ascendis Pharma A/S
ASND
$17.1B
| $7.25M | 1.54% |
+200,000
| New | +$5.74M |
2017 Q3
0 quarters
|
|
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AFS
E
Ghost Tree Capital's Q3 2017 Portfolio in Review
As of Q3 2017, Ghost Tree Capital held 94 positions worth $471M, down 2.1% from $481M the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Ghost Tree Capital withdrew a net $49.7M in Q3 2017, closing 31 positions and reducing 21 holdings. Its most notable exit was Seagen Inc. Common Stock, an estimated $15.5M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 71% of assets, up from 70% a quarter earlier, followed by Miscellaneous.
Against the trend, Ghost Tree Capital opened a new position in Thermo Fisher Scientific worth $9.46M.
- Ghost Tree Capital's largest Q3 2017 buy was Thermo Fisher Scientific: 50,000 shares worth $9.46M.
- Ghost Tree Capital added most to Acceleron Pharma in Q3 2017, an estimated $9.03M increase.
- Ghost Tree Capital's biggest Q3 2017 reduction was GW Pharmaceuticals Plc American Depositary Shares, cutting an estimated $8.03M.
- Ghost Tree Capital fully exited Seagen Inc. Common Stock in Q3 2017, selling an estimated $15.5M.
- Ghost Tree Capital's ten largest holdings make up 42% of its $471M portfolio in Q3 2017.
- Ghost Tree Capital opened 28 new positions and closed 31 in Q3 2017.
- Ghost Tree Capital's portfolio value fell 2.1% quarter-over-quarter to $471M.
Based on Ghost Tree Capital's 13F filing for Q3 2017, filed 14 Nov 2017.