SEC 13F Intelligence

Managers / Q4 2019 · view latest →

Ghost Tree Capital, LLC

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

Reported Value
$529M
Q4 2019
Positions
53
Filings on Record
32
2019–present window
Filed
Feb 14, 2020
original filing

Summary

Ghost Tree Capital, LLC reported $529M in U.S.-listed holdings across 53 positions for Q4 2019.

Its largest position, Spdr S P 500 Etf Tr, represents 11.7% of the portfolio.

Compared with Q3 2019, the fund opened 24 new positions and exited 14.

Portfolio Metrics

Turnover
+35.6%
vs prior filed quarter
Top-10 Concentration
+47.7%
share of reported value
Largest Position
+11.7%
Spdr S P 500 Etf Tr
New / Exited
24 / 14
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: 58.2%ETP: 21.6%Other: 19.7%ADR: 0.6%
  • Common Stock · 58.2% · $307M
  • ETP · 21.6% · $114M
  • Other · 19.7% · $104M
  • ADR · 0.6% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CNSTCONSTELLATION PHARMCETICLS INEW+575.5K575.5K+$27M$27M
SAGE THERAPEUTICS INCNEW+150.0K150.0K+$23M$23M
IMVTIMMUNOVANT INCNEW+800.0K800.0K+$13M$13M
AUPHAURINIA PHARMACEUTICALS INCNEW+600.0K600.0K+$12M$12M
IOVANCE BIOTHERAPEUTICS INCNEW+350.0K350.0K+$11M$11M
DBV TECHNOLOGIES S ANEW+750.0K750.0K+$8M$8M
CHRSCOHERUS BIOSCIENCES INCNEW+430.0K430.0K+$8M$8M
APELLIS PHARMACEUTICALS INCNEW+250.0K250.0K+$8M$8M

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

Holdings — Q4 2019

44 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPDR S&P 500 ETF TRTR UNIT11.73%$62M200.0K
2SPDR SERIES TRUSTS&P BIOTECH8.64%$46M500.0K
3ASCENDIS PHARMA A SSPONSORED ADR5.26%$28M200.0K
4CNSTCONSTELLATION PHARMCETICLS Ihistory →COM5.13%$27M575.5K
5AXSMAXSOME THERAPEUTICS INChistory →COM3.91%$21M200.0K
6MRTXEURMIRATI THERAPEUTICS INChistory →COM3.66%$19M150.0K
7IOVAIOVANCE BIOTHERAPEUTICS INChistory →COM3.40%$18M650.0K
8RCKTROCKET PHARMACEUTICALS INChistory →COM3.01%$16M700.0K
9RETAEURREATA PHARMACEUTICALS INChistory →CL A2.90%$15M75.0K
10AERIEURAERIE PHARMACEUTICALS INChistory →COM2.63%$14M575.0K
11ADVMCHFADVERUM BIOTECHNOLOGIES INChistory →COM2.56%$14M1.18M
12IMVTIMMUNOVANT INChistory →COM2.40%$13M800.0K
13AM6AMICUS THERAPEUTICS INChistory →COM2.30%$12M1.25M
14AUPHAURINIA PHARMACEUTICALS INChistory →COM2.30%$12M600.0K
152655787DBLUEPRINT MEDICINES CORPhistory →COM2.27%$12M150.0K
16IMMUIMMUNOMEDICS INChistory →COM2.00%$11M500.0K
17BCRXBIOCRYST PHARMACEUTICALShistory →COM1.96%$10M3.00M
18ARVNARVINAS INChistory →COM1.75%$9M225.0K
19SRPTSAREPTA THERAPEUTICS INChistory →COM1.59%$8M65.0K
20DBV TECHNOLOGIES S ASPONSORED ADR1.52%$8M750.0K
21MNTAMOMENTA PHARMACEUTICALS INChistory →COM1.49%$8M400.0K
22CHRSCOHERUS BIOSCIENCES INChistory →COM1.46%$8M430.0K
234XC1KALVISTA PHARMACEUTICALS INChistory →COM1.40%$7M415.0K
24MYOVANT SCIENCES LTDCOM1.32%$7M450.0K
25OPHTEURIVERIC BIO INChistory →COM1.22%$6M750.0K
26ARQLUSDARQULE INChistory →COM1.13%$6M300.0K
27FATEFATE THERAPEUTICS INChistory →COM1.02%$5M275.0K
28APLSUSDAPELLIS PHARMACEUTICALS INChistory →COM1.01%$5M175.0K
29VRAYQVIEWRAY INCCOM0.96%$5M1.20M
30FXFINVESCO CURNCYSHS SWISS FRANSWISS FRANC0.94%$5M52.0K
31IM8NINSMED INCCOM PAR $.010.90%$5M200.0K
32MERSANA THERAPEUTICS INCCOM0.87%$5M800.0K
33KINIKSA PHARMACEUTICALS LTDCOM CL A0.73%$4M350.0K
34MISTMILESTONE PHARMACEUTICALS INCOM0.71%$4M235.0K
35ORTXUSDORCHARD THERAPEUTICS PLCADS0.58%$3M224.4K
36PHASEURPHASEBIO PHARMACEUTICALS INCCOM0.52%$3M450.0K
37SELECTA BIOSCIENCES INCCOM0.52%$3M1.15M
38GBTUSDGLOBAL BLOOD THERAPEUTICS INCOM0.50%$3M33.4K
39BIOHAVEN PHARMACTL HLDG CO LCOM0.41%$2M40.0K
40CHMACHIASMA INCCOM0.40%$2M425.0K
41KDMNKADMON HLDGS INCCOM0.40%$2M462.5K
42PTGXPROTAGONIST THERAPEUTICS INCCOM0.37%$2M275.0K
43FXBINVESCO CURNCYSHS BRIT PND SBRIT POUN STRL0.28%$1M11.6K
44KPTIEURKARYOPHARM THERAPEUTICS INCCOM0.18%$968,00050.5K

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 ↗.