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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
+71.88%
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
$449M
AUM Growth
+$103M
(+30%)
Cap. Flow
-$16.7M
Cap. Flow
% of AUM
-3.72%
Top 10 Holdings %
Top 10 Hldgs %
50.85%
Holding
61
New
14
Increased
9
Reduced
13
Closed
18
Top Buys
| 1 |
Syndax Pharmaceuticals
SNDX
|
+$19.2M |
| 2 |
APLS
Apellis Pharmaceuticals
APLS
|
+$13.7M |
| 3 |
Cogent Biosciences
COGT
|
+$12.1M |
| 4 |
Travere Therapeutics
TVTX
|
+$11.1M |
| 5 |
FPRX
Five Prime Therapeutics, Inc.
FPRX
|
+$6.26M |
Top Sells
| 1 |
ADVM
Adverum Biotechnologies
ADVM
|
+$12M |
| 2 |
Immunovant
IMVT
|
+$10.4M |
| 3 |
MRSN
Mersana Therapeutics
MRSN
|
+$10M |
| 4 |
Aurinia Pharmaceuticals
AUPH
|
+$8.1M |
| 5 |
Agios Pharmaceuticals
AGIO
|
+$6.13M |
Sector Composition
| 1 | Healthcare | 83.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
Invesco QQQ Trust
QQQ
$466B
| $31.4M | 6.99% |
+100,000
| New | +$29.4M |
|
|
2
Syndax Pharmaceuticals
SNDX
$2.02B
| $30M | 6.69% |
1,350,000
+925,000
| +218% | +$19.2M |
|
|
TRIL
3
DELISTED
Trillium Therapeutics Inc.
TRIL
| $28.7M | 6.39% |
1,950,000
| – | – |
|
4
Rocket Pharmaceuticals
RCKT
$376M
| $27.4M | 6.11% |
500,000
+100,000
| +25% | +$3.65M |
|
5
Iovance Biotherapeutics
IOVA
$2.23B
| $23.2M | 5.17% |
500,000
-75,000
| -13% | -$2.98M |
|
|
APLS
6
DELISTED
Apellis Pharmaceuticals
APLS
| $18.6M | 4.14% |
+325,000
| New | +$13.7M |
|
|
CNST
7
DELISTED
Constellation Pharmaceuticals, Inc.
CNST
| $18M | 4.01% |
625,000
-100,000
| -14% | -$2.52M |
|
8
Ascendis Pharma A/S
ASND
$17.1B
| $17.5M | 3.9% |
105,000
-25,000
| -19% | -$4.13M |
|
9
Arvinas
ARVN
$517M
| $17.4M | 3.88% |
205,000
+5,000
| +3% | +$172K |
|
|
MRSN
10
DELISTED
Mersana Therapeutics
MRSN
| $16M | 3.56% |
24,000
-18,000
| -43% | -$10M |
|
11
Fate Therapeutics
FATE
$324M
| $15M | 3.34% |
165,000
-35,000
| -18% | -$2.17M |
|
|
12
Immunovant
IMVT
$8.27B
| $13.9M | 3.09% |
300,000
-225,000
| -43% | -$10.4M |
|
|
FOLD
13
DELISTED
Amicus Therapeutics
FOLD
| $13.9M | 3.09% |
600,000
| – | – |
|
14
TG Therapeutics
TGTX
$8.4B
| $13M | 2.9% |
250,000
+50,000
| +25% | +$1.69M |
|
|
15
Travere Therapeutics
TVTX
$5.27B
| $12.9M | 2.88% |
+475,000
| New | +$11.1M |
|
|
16
Cogent Biosciences
COGT
$6.68B
| $12.4M | 2.75% |
+1,100,000
| New | +$12.1M |
|
|
MRTX
17
CALL
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $11M | 2.45% |
+50,000
| New | +$10.8M |
|
|
MRTX
18
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $11M | 2.45% |
50,000
-10,000
| -17% | -$2.16M |
|
19
Xenon Pharmaceuticals
XENE
$6.6B
| $10.8M | 2.4% |
700,000
+375,000
| +115% | +$4.39M |
|
20
Kura Oncology
KURA
$964M
| $10.6M | 2.37% |
325,000
+100,000
| +44% | +$3.51M |
|
|
ISEE
21
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
| $9.5M | 2.12% |
1,375,000
+375,000
| +38% | +$2.4M |
|
|
SURF
22
DELISTED
Surface Oncology, Inc. Common Stock
SURF
| $9.24M | 2.06% |
1,000,000
| – | – |
|
|
FPRX
23
DELISTED
Five Prime Therapeutics, Inc.
FPRX
| $8.51M | 1.9% |
+500,000
| New | +$6.26M |
|
24
Sarepta Therapeutics
SRPT
$1.82B
| $6.82M | 1.52% |
40,000
-25,000
| -38% | -$3.7M |
|
25
BioCryst Pharmaceuticals
BCRX
$2.36B
| $6.71M | 1.49% |
900,000
-1,050,000
| -54% | -$5.41M |
|
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Ghost Tree Capital's Q4 2020 Portfolio in Review
As of Q4 2020, Ghost Tree Capital held 61 positions worth $449M, up 30% from $346M the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Ghost Tree Capital withdrew a net $16.7M in Q4 2020, closing 18 positions and reducing 13 holdings. Its most notable exit was Adverum Biotechnologies, an estimated $12M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 83% of assets, up from 77% a quarter earlier.
Against the trend, Ghost Tree Capital opened a new position in Apellis Pharmaceuticals worth $18.6M.
- Ghost Tree Capital's largest Q4 2020 buy was Apellis Pharmaceuticals: 325,000 shares worth $18.6M.
- Ghost Tree Capital added most to Syndax Pharmaceuticals in Q4 2020, an estimated $19.2M increase.
- Ghost Tree Capital's biggest Q4 2020 reduction was Immunovant, cutting an estimated $10.4M.
- Ghost Tree Capital fully exited Adverum Biotechnologies in Q4 2020, selling an estimated $12M.
- Ghost Tree Capital's ten largest holdings make up 51% of its $449M portfolio in Q4 2020.
- Ghost Tree Capital opened 14 new positions and closed 18 in Q4 2020.
- Ghost Tree Capital's portfolio value rose 30% quarter-over-quarter to $449M.
Based on Ghost Tree Capital's 13F filing for Q4 2020, filed 16 Feb 2021.