SEC 13F Intelligence

Managers / Q3 2024

Ghost Tree Capital, LLC

CIK 0001595851 · 667 MADISON AVENUE, 5TH FLOOR, SUITE 12, NEW YORK, NY, 10065 · 6467790120

Reported Value
$331M
Q3 2024
Positions
54
Filings on Record
32
2019–present window
Filed
Nov 14, 2024
original filing

Summary

Ghost Tree Capital, LLC reported $331M in U.S.-listed holdings across 54 positions for Q3 2024.

Its largest position, Biohaven, represents 5.3% of the portfolio.

Compared with Q2 2024, the fund opened 11 new positions and exited 19.

Portfolio Metrics

Turnover
+34.4%
vs prior filed quarter
Top-10 Concentration
+36.2%
share of reported value
Largest Position
+5.3%
Biohaven
New / Exited
11 / 19
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $285MQ4 ’18Q1 ’19: $369MQ2 ’19: $477MQ3 ’19: $394MQ3 ’19Q4 ’19: $529MQ1 ’20: $377MQ2 ’20: $379MQ2 ’20Q3 ’20: $346MQ4 ’20: $449MQ1 ’21: $425MQ1 ’21Q2 ’21: $364MQ3 ’21: $342MQ4 ’21: $279MQ4 ’21Q1 ’22: $461MQ2 ’22: $192MQ3 ’22: $356MQ3 ’22Q4 ’22: $234MQ1 ’23: $338MQ2 ’23: $303MQ2 ’23Q3 ’23: $304MQ4 ’23: $306MQ1 ’24: $361MQ1 ’24Q2 ’24: $319MQ3 ’24: $331Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 74.9%Other: 12.2%ETP: 9.0%ADR: 4.0%
  • Common Stock · 74.9% · $248M
  • Other · 12.2% · $40M
  • ETP · 9.0% · $30M
  • ADR · 4.0% · $13M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SPDR SER TRNEW+300.0K300.0K+$30M$30M
BIOHAVEN LTDNEW+348.8K348.8K+$17M$17M
NVONOVO-NORDISK A SNEW+110.0K110.0K+$13M$13M
EWTXEDGEWISE THERAPEUTICS INCNEW+195.0K195.0K+$5M$5M
DYNDYNE THERAPEUTICS INCNEW+100.0K100.0K+$4M$4M
CRVSCORVUS PHARMACEUTICALS INCNEW+500.0K500.0K+$3M$3M
ABSIABSCI CORPORATIONNEW+550.0K550.0K+$2M$2M
CAPRCAPRICOR THERAPEUTICS INCNEW+125.0K125.0K+$2M$2M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2024

47 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BIOHAVEN LTDCALL5.26%$17M348.8K
2SRPTSAREPTA THERAPEUTICS INChistory →COM4.53%$15M120.0K
3NVONOVO-NORDISK A Shistory →ADR3.96%$13M110.0K
42655787DBLUEPRINT MEDICINES CORPhistory →COM3.91%$13M140.0K
5AXSMAXSOME THERAPEUTICS INChistory →COM3.66%$12M135.0K
6TARSTARSUS PHARMACEUTICALS INChistory →COM3.48%$12M350.0K
7CATXPERSPECTIVE THERAPEUTICS INChistory →COM NEW3.02%$10M750.0K
8CGONCG ONCOLOGY INChistory →COM2.85%$9M250.0K
9ROIVANT SCIENCES LTDSHS2.79%$9M800.0K
10PCVXVAXCYTE INChistory →COM2.76%$9M80.0K
11VKTXVIKING THERAPEUTICS INChistory →COM2.68%$9M140.0K
12SNDXSYNDAX PHARMACEUTICALS INChistory →COM2.62%$9M450.0K
13JANXJANUX THERAPEUTICS INChistory →COM2.61%$9M190.0K
14ASCENDIS PHARMA A/SSPONSORED ADR2.37%$8M52.5K
15CRNXCRINETICS PHARMACEUTICALS INhistory →COM2.32%$8M150.0K
16SLNOEURSOLENO THERAPEUTICS INChistory →COM2.29%$8M150.0K
17TGTXTG THERAPEUTICS INChistory →COM2.19%$7M310.0K
18RZLTREZOLUTE INChistory →COM NEW2.16%$7M1.47M
19PHATPHATHOM PHARMACEUTICALS INChistory →COM2.05%$7M375.0K
20MLTXMOONLAKE IMMUNOTHERAPEUTICShistory →CLASS A ORD1.96%$6M128.4K
21OLMAOLEMA PHARMACEUTICALS INChistory →COM1.93%$6M535.0K
22IMVTIMMUNOVANT INChistory →COM1.85%$6M215.0K
23IM8NINSMED INChistory →COM PAR $.011.65%$5M75.0K
24EWTXEDGEWISE THERAPEUTICS INChistory →COM1.57%$5M195.0K
25REPLREPLIMUNE GROUP INChistory →COM1.49%$5M450.0K
26BBIOBRIDGEBIO PHARMA INChistory →COM1.35%$4M175.0K
27TSHATAYSHA GENE THERAPIES INChistory →COM SHS1.31%$4M2.15M
28RYTMRHYTHM PHARMACEUTICALS INChistory →COM1.25%$4M78.8K
29ANNXANNEXON INChistory →COM1.16%$4M650.0K
30KRROKORRO BIO INChistory →COM1.11%$4M110.0K
31DYNDYNE THERAPEUTICS INChistory →COM1.09%$4M100.0K
32ARVNARVINAS INChistory →COM1.08%$4M145.0K
33CRBPCORBUS PHARMACEUTICALS HLDGSCOM NEW1.00%$3M160.0K
34HELIX ACQUISITION CORP IICL A ORD SHS0.95%$3M300.0K
35NUVBNUVATION BIO INCCOM CL A0.93%$3M1.35M
36YB4PSAVARA INCCOM0.93%$3M725.0K
37TNYATENAYA THERAPEUTICS INCCOM0.87%$3M1.50M
38RGNXREGENXBIO INCCOM0.84%$3M265.0K
39CRVSCORVUS PHARMACEUTICALS INCCOM0.80%$3M500.0K
40ABSIABSCI CORPORATIONCOM0.63%$2M550.0K
41NGNENEUROGENE INCCOM0.63%$2M50.0K
42CAPRCAPRICOR THERAPEUTICS INCCOM NEW0.57%$2M125.0K
43APLSUSDAPELLIS PHARMACEUTICALS INCCOM0.57%$2M65.0K
44SMMTSUMMIT THERAPEUTICS INCCOM0.56%$2M85.0K
45SYRESPYRE THERAPEUTICS INCCOM NEW0.53%$2M60.0K
46VRDNVIRIDIAN THERAPEUTICS INCCOM0.52%$2M75.0K
47PROQR THRAPEUTICS N VSHS EURO0.49%$2M887.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q3 2024$331M54Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$319M63Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$361M72May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$306M52Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$304M70Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$303M57Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$338M58May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$234M35Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$356M44Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$192M34Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$461M42May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$279M47Feb 16, 202213F-HRchanges · EDGAR ↗
Q3 2021$342M60Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$364M52Aug 11, 202113F-HRchanges · EDGAR ↗
Q1 2021$425M50May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$449M43Feb 18, 2021RESTATEMENTchanges · EDGAR ↗
Q3 2020$346M47Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$379M43Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$377M49May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$529M53Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$394M44Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$477M43Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$369M39May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$285M39Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.