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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
+23.2%
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
$426M
AUM Growth
-$44.5M
(-9.4%)
Cap. Flow
-$69.2M
Cap. Flow % of AUM
Cap. Flow %
-16.23%
Top 10 Holdings %
Top 10 Hldgs %
50.35%
Holding
88
New
25
Increased
8
Reduced
14
Closed
39
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
0.3
years
Avg Time Held Equity only
0.3
years
Top 10 Avg Time Held Equity only
0.1
years
Top 20 Avg Time Held Equity only
0.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Esperion Therapeutics
ESPR
|
+$12.4M |
| 2 |
PTLA
Portola Pharmaceuticals, Inc.
PTLA
|
+$11.4M |
| 3 |
Blueprint Medicines
BPMC
|
+$10.6M |
| 4 |
Viatris
VTRS
|
+$9.6M |
| 5 |
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
|
+$9.31M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ZGNX
Zogenix, Inc.
ZGNX
|
+$16.1M |
| 2 |
Neurocrine Biosciences
NBIX
|
+$13.8M |
| 3 |
NEVRO CORP.
NVRO
|
+$10.5M |
| 4 |
Entellus Medical, Inc. Common Stock
ENTL
|
+$10.4M |
| 5 |
Insmed
INSM
|
+$10.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 67.49% |
| 2 | Miscellaneous | 32.51% |
| 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
$10.2B
| $72.1M | 16.92% |
850,000
+500,000
| +143% | +$41.9M |
2016 Q1
7 quarters
|
|
|
IMMU
2
DELISTED
Immunomedics Inc
IMMU
| $24.9M | 5.83% |
1,538,000
-408,946
| -21% | -$4.83M |
2016 Q2
6 quarters
|
|
|
IMMU
3
CALL
DELISTED
Immunomedics Inc
IMMU
| $21M | 4.93% |
+1,300,000
| New | +$15.3M |
2017 Q4
0 quarters
|
|
4
argenx
ARGX
$61.7B
| $15.8M | 3.7% |
250,000
-2,534
| -1% | -$83K |
2017 Q2
2 quarters
|
|
|
CELG
5
CALL
DELISTED
Celgene Corp
CELG
| $15.7M | 3.67% |
+150,000
| New | +$16.9M |
2017 Q4
0 quarters
|
|
|
6
DELISTED
Esperion Therapeutics
ESPR
| $15.1M | 3.55% |
+230,000
| New | +$12.4M |
2017 Q4
0 quarters
|
|
|
ALXN
7
DELISTED
Alexion Pharmaceuticals
ALXN
| $13.8M | 3.23% |
115,000
+15,000
| +15% | +$1.83M |
2017 Q2
2 quarters
|
|
|
GBT
8
DELISTED
Global Blood Therapeutics, Inc.
GBT
| $12.8M | 3% |
325,000
+75,000
| +30% | +$2.8M |
2017 Q3
1 quarter
|
|
|
AGN
9
CALL
DELISTED
Allergan plc
AGN
| $12.3M | 2.88% |
+75,000
| New | +$13.5M |
2017 Q4
0 quarters
|
|
|
10
DELISTED
Blueprint Medicines
BPMC
| $11.3M | 2.65% |
+150,000
| New | +$10.6M |
2017 Q4
0 quarters
|
|
|
PTLA
11
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
| $11M | 2.57% |
+225,000
| New | +$11.4M |
2017 Q4
0 quarters
|
|
|
MRTX
12
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $11M | 2.57% |
+600,000
| New | +$9.31M |
2017 Q4
0 quarters
|
|
|
13
Viatris
VTRS
$23.7B
| $10.6M | 2.48% |
+250,000
| New | +$9.6M |
2017 Q4
0 quarters
|
|
14
Ascendis Pharma A/S
ASND
$17.5B
| $10M | 2.35% |
250,000
+50,000
| +25% | +$1.82M |
2017 Q3
1 quarter
|
|
|
AVXS
15
DELISTED
AveXis, Inc. Common Stock
AVXS
| $9.41M | 2.21% |
85,000
-19,539
| -19% | -$1.96M |
2016 Q3
5 quarters
|
|
16
CALL
Bristol-Myers Squibb
BMY
$127B
| $9.19M | 2.16% |
150,000
| – | – |
2016 Q3
5 quarters
|
|
|
XLRN
17
DELISTED
Acceleron Pharma
XLRN
| $8.49M | 1.99% |
200,000
-150,000
| -43% | -$5.63M |
2016 Q4
4 quarters
|
|
|
VRAY
18
DELISTED
ViewRay, Inc.
VRAY
| $8.33M | 1.95% |
900,000
+200,000
| +29% | +$1.6M |
2017 Q2
2 quarters
|
|
19
DBV Technologies S.A. American Depositary Shares
DBVT
$718M
| $8M | 1.87% |
32,500
-9,589
| -23% | -$2.77M |
2016 Q3
5 quarters
|
|
|
AGN
20
DELISTED
Allergan plc
AGN
| $7.48M | 1.76% |
+45,750
| New | +$8.21M |
2017 Q4
0 quarters
|
|
|
ZGNX
21
DELISTED
Zogenix, Inc.
ZGNX
| $7.21M | 1.69% |
180,000
-420,000
| -70% | -$16.1M |
2016 Q3
5 quarters
|
|
22
PUT
DELISTED
Sage Therapeutics
SAGE
| $7.2M | 1.69% |
43,700
-106,300
| -71% | -$10.3M |
2017 Q3
1 quarter
|
|
|
JUNO
23
DELISTED
Juno Therapeutics, Inc.
JUNO
| $6.86M | 1.61% |
150,000
+50,000
| +50% | +$2.49M |
2017 Q2
2 quarters
|
|
|
CLVS
24
DELISTED
Clovis Oncology, Inc.
CLVS
| $6.8M | 1.59% |
+100,000
| New | +$6.99M |
2017 Q4
0 quarters
|
|
|
LJPC
25
DELISTED
La Jolla Pharmaceutical Company
LJPC
| $6.44M | 1.51% |
+200,000
| New | +$6.54M |
2017 Q4
0 quarters
|
|
Similar funds
AFS
E
Ghost Tree Capital's Q4 2017 Portfolio in Review
As of Q4 2017, Ghost Tree Capital held 88 positions worth $426M, down 9.4% from $471M the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Ghost Tree Capital withdrew a net $69.2M in Q4 2017, closing 39 positions and reducing 14 holdings. Its most notable exit was Neurocrine Biosciences, an estimated $13.8M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 67% of assets, down from 71% a quarter earlier, followed by Miscellaneous.
Against the trend, Ghost Tree Capital opened a new position in Esperion Therapeutics worth $15.1M.
- Ghost Tree Capital's largest Q4 2017 buy was Esperion Therapeutics: 230,000 shares worth $15.1M.
- Ghost Tree Capital added most to Global Blood Therapeutics, Inc. in Q4 2017, an estimated $2.8M increase.
- Ghost Tree Capital's biggest Q4 2017 reduction was Zogenix, Inc., cutting an estimated $16.1M.
- Ghost Tree Capital fully exited Neurocrine Biosciences in Q4 2017, selling an estimated $13.8M.
- Ghost Tree Capital's ten largest holdings make up 50% of its $426M portfolio in Q4 2017.
- Ghost Tree Capital opened 25 new positions and closed 39 in Q4 2017.
- Ghost Tree Capital's portfolio value fell 9.4% quarter-over-quarter to $426M.
Based on Ghost Tree Capital's 13F filing for Q4 2017, filed 14 Feb 2018.