SEC 13F Intelligence

Managers / Q1 2019 · view latest →

Ghost Tree Capital, LLC

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

Reported Value
$369M
Q1 2019
Positions
39
Filings on Record
32
2019–present window
Filed
May 15, 2019
original filing

Summary

Ghost Tree Capital, LLC reported $369M in U.S.-listed holdings across 39 positions for Q1 2019.

Its largest position, Ascendis Pharma A S, represents 12.3% of the portfolio.

Compared with Q4 2018, the fund opened 11 new positions and exited 9.

Portfolio Metrics

Turnover
+36.0%
vs prior filed quarter
Top-10 Concentration
+51.4%
share of reported value
Largest Position
+12.3%
Ascendis Pharma A S
New / Exited
11 / 9
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: 76.0%Other: 20.2%ETP: 2.3%ADR: 1.5%
  • Common Stock · 76.0% · $281M
  • Other · 20.2% · $74M
  • ETP · 2.3% · $9M
  • ADR · 1.5% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2018 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
2655787DBLUEPRINT MEDICINES CORPNEW+240.0K240.0K+$19M$19M
CYMABAY THERAPEUTICS INCNEW+750.0K750.0K+$10M$10M
PTGXPROTAGONIST THERAPEUTICS INCNEW+700.0K700.0K+$9M$9M
RARXEURRA PHARMACEUTICALS INCNEW+300.0K300.0K+$7M$7M
DBV TECHNOLOGIES S ANEW+850.0K850.0K+$7M$7M
EPZMEUREPIZYME INCNEW+500.0K500.0K+$6M$6M
CHRSCOHERUS BIOSCIENCES INCNEW+450.0K450.0K+$6M$6M
AXSMAXSOME THERAPEUTICS INCNEW+310.0K310.0K+$4M$4M

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

Holdings — Q1 2019

37 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ASCENDIS PHARMA A SSPONSORED ADR12.28%$45M385.0K
2ACADACADIA PHARMACEUTICALS INChistory →COM6.55%$24M900.0K
32655787DBLUEPRINT MEDICINES CORPhistory →COM5.21%$19M240.0K
4AM6AMICUS THERAPEUTICS INChistory →COM4.79%$18M1.30M
5GBTUSDGLOBAL BLOOD THERAPEUTICS INhistory →COM4.30%$16M300.0K
6IMMUIMMUNOMEDICS INChistory →COM4.16%$15M800.0K
7VRTXVERTEX PHARMACEUTICALS INChistory →COM3.99%$15M80.0K
8ALNYALNYLAM PHARMACEUTICALS INChistory →COM3.80%$14M150.0K
9SG7SAGE THERAPEUTICS INChistory →COM3.23%$12M75.0K
104XC1KALVISTA PHARMACEUTICALS INChistory →COM3.10%$11M400.0K
11RTRXEURRETROPHIN INChistory →COM3.07%$11M500.0K
12MRTXEURMIRATI THERAPEUTICS INChistory →COM2.98%$11M150.0K
13IOVAIOVANCE BIOTHERAPEUTICS INChistory →COM2.96%$11M1.15M
14RCKTROCKET PHARMACEUTICALS INChistory →COM2.85%$11M600.0K
15CYMABAY THERAPEUTICS INCCOM2.70%$10M750.0K
16PTGXPROTAGONIST THERAPEUTICS INChistory →COM2.38%$9M700.0K
17FXFINVESCO CURNCYSHS SWISS FRANhistory →SWISS FRANC2.32%$9M91.8K
18ANABANAPTYSBIO INChistory →COM2.28%$8M115.0K
19MNTAMOMENTA PHARMACEUTICALS INChistory →COM1.97%$7M500.0K
20BOLDEURAUDENTES THERAPEUTICS INChistory →COM1.85%$7M175.0K
21RARXEURRA PHARMACEUTICALS INChistory →COM1.82%$7M300.0K
22DBV TECHNOLOGIES S ASPONSORED ADR1.78%$7M850.0K
23EPZMEUREPIZYME INChistory →COM1.68%$6M500.0K
24CHRSCOHERUS BIOSCIENCES INChistory →COM1.66%$6M450.0K
251T7TRICIDA INChistory →COM1.57%$6M150.0K
26KDMNKADMON HLDGS INChistory →COM1.50%$6M2.10M
27VRAYQVIEWRAY INChistory →COM1.50%$6M750.0K
28ORTXUSDORCHARD THERAPEUTICS PLChistory →ADS1.45%$5M300.0K
29AXSMAXSOME THERAPEUTICS INChistory →COM1.20%$4M310.0K
30BCRXBIOCRYST PHARMACEUTICALShistory →COM1.10%$4M500.0K
31CHMACHIASMA INCCOM0.99%$4M700.0K
32ARVNARVINAS INCCOM0.70%$3M175.0K
33OBSEVA SACOM0.69%$3M200.0K
34GENOCEA BIOSCIENCES INCCOM0.32%$1M2.00M
35SOLID BIOSCIENCES INCCOM0.25%$920,000100.0K
36CATALYST BIOSCIENCES INCCOM NEW0.22%$811,000100.0K
37FGENEURFIBROGEN INCCOM0.17%$625,00011.5K

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 ↗.