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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
(+0.59%)
Cap. Flow
-$42.9M
Cap. Flow
% of AUM
-14.03%
Top 10 Holdings %
Top 10 Hldgs %
55.29%
Holding
87
New
18
Increased
13
Reduced
20
Closed
35
Top Buys
| 1 |
Biohaven
BHVN
|
+$8.55M |
| 2 |
argenx
ARGX
|
+$5.82M |
| 3 |
Sarepta Therapeutics
SRPT
|
+$5.76M |
| 4 |
Structure Therapeutics
GPCR
|
+$5.44M |
| 5 |
Roivant Sciences
ROIV
|
+$5.22M |
Top Sells
| 1 |
MoonLake Immunotherapeutics
MLTX
|
+$12.9M |
| 2 |
TG Therapeutics
TGTX
|
+$8.72M |
| 3 |
ALPN
Alpine Immune Sciences Inc
ALPN
|
+$7.6M |
| 4 |
Madrigal Pharmaceuticals
MDGL
|
+$7.44M |
| 5 |
Ascendis Pharma A/S
ASND
|
+$6.48M |
Sector Composition
| 1 | Healthcare | 56.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
CALL
iShares Russell 2000 ETF
IWM
$82.2B
| $50.2M | 16.41% |
+250,000
| New | +$44.8M |
|
2
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.4B
| $26.8M | 8.76% |
+300,000
| New | +$22.3M |
|
|
3
CALL
State Street SPDR S&P Biotech ETF
XBI
$10.4B
| $22.3M | 7.3% |
250,000
-50,000
| -17% | -$3.71M |
|
|
4
CALL
MoonLake Immunotherapeutics
MLTX
$1.59B
| $15.1M | 4.94% |
+250,000
| New | +$12.9M |
|
5
Axsome Therapeutics
AXSM
$12.2B
| $13.1M | 4.29% |
165,000
+55,000
| +50% | +$3.68M |
|
|
6
Biohaven
BHVN
$2.13B
| $11.8M | 3.85% |
+275,000
| New | +$8.55M |
|
|
7
Sarepta Therapeutics
SRPT
$1.82B
| $9.64M | 3.15% |
100,000
+60,000
| +150% | +$5.76M |
|
|
AMAM
8
DELISTED
Ambrx Biopharma Inc
AMAM
| $6.76M | 2.21% |
475,000
-50,000
| -10% | -$568K |
|
|
9
Roivant Sciences
ROIV
$24.4B
| $6.74M | 2.2% |
600,000
+536,000
| +838% | +$5.22M |
|
10
CALL
Cytokinetics
CYTK
$10.9B
| $6.68M | 2.18% |
+80,000
| New | +$2.9M |
|
11
Viridian Therapeutics
VRDN
$1.99B
| $6.53M | 2.14% |
300,000
+25,000
| +9% | +$395K |
|
12
Krystal Biotech
KRYS
$10.1B
| $6.2M | 2.03% |
50,000
-30,000
| -38% | -$3.33M |
|
|
13
Structure Therapeutics
GPCR
$3.27B
| $6.11M | 2% |
150,000
+95,000
| +173% | +$5.44M |
|
14
Tarsus Pharmaceuticals
TARS
$2.52B
| $6.08M | 1.99% |
300,000
-100,000
| -25% | -$1.67M |
|
|
APLS
15
CALL
DELISTED
Apellis Pharmaceuticals
APLS
| $5.99M | 1.96% |
100,000
-85,000
| -46% | -$4.31M |
|
|
16
argenx
ARGX
$53.7B
| $5.71M | 1.87% |
15,000
+12,500
| +500% | +$5.82M |
|
17
Alnylam Pharmaceuticals
ALNY
$37.8B
| $5.26M | 1.72% |
+27,500
| New | +$4.68M |
|
18
BridgeBio Pharma
BBIO
$15.7B
| $5.05M | 1.65% |
125,000
+50,000
| +67% | +$1.5M |
|
|
19
MoonLake Immunotherapeutics
MLTX
$1.59B
| $4.83M | 1.58% |
80,000
-250,000
| -76% | -$12.9M |
|
|
JBIO
20
Jade Biosciences
JBIO
$1.25B
| $4.75M | 1.55% |
6,000
+252
| +4% | +$128K |
|
|
SLNO
21
DELISTED
Soleno Therapeutics
SLNO
| $4.52M | 1.48% |
+112,385
| New | +$3.2M |
|
22
Vaxcyte
PCVX
$8.09B
| $4.4M | 1.44% |
70,000
-70,000
| -50% | -$3.64M |
|
|
23
TG Therapeutics
TGTX
$8.41B
| $4.27M | 1.4% |
250,000
-750,000
| -75% | -$8.72M |
|
24
EyePoint Inc
EYPT
$1.09B
| $3.81M | 1.25% |
165,000
-160,000
| -49% | -$1.79M |
|
25
Taysha Gene Therapies
TSHA
$1.72B
| $3.72M | 1.22% |
2,100,000
+775,000
| +58% | +$1.55M |
|
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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.