SEC 13F Intelligence

Managers / Q2 2021 · view latest →

Ghost Tree Capital, LLC

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

Reported Value
$364M
Q2 2021
Positions
52
Filings on Record
32
2019–present window
Filed
Aug 11, 2021
original filing

Summary

Ghost Tree Capital, LLC reported $364M in U.S.-listed holdings across 52 positions for Q2 2021.

Its largest position, Rapt Therapeutics, represents 5.0% of the portfolio.

Compared with Q1 2021, the fund opened 15 new positions and exited 13.

Portfolio Metrics

Turnover
+29.7%
vs prior filed quarter
Top-10 Concentration
+41.2%
share of reported value
Largest Position
+5.0%
Rapt Therapeutics
New / Exited
15 / 13
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: 67.2%Other: 16.8%ETP: 11.2%ADR: 4.9%
  • Common Stock · 67.2% · $244M
  • Other · 16.8% · $61M
  • ETP · 11.2% · $41M
  • ADR · 4.9% · $18M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SPDR SER TRNEW+300.0K300.0K+$41M$41M
RAPT THERAPEUTICS INCNEW+570.0K570.0K+$18M$18M
ALLOALLOGENE THERAPEUTICS INCNEW+275.0K275.0K+$7M$7M
GALAPAGOS NVNEW+75.0K75.0K+$5M$5M
TARSTARSUS PHARMACEUTICALS INCNEW+170.0K170.0K+$5M$5M
CRNXCRINETICS PHARMACEUTICALS INNEW+243.3K243.3K+$5M$5M
HRMYHARMONY BIOSCIENCES HLDGS INNEW+125.0K125.0K+$4M$4M
PCVXVAXCYTE INCNEW+145.0K145.0K+$3M$3M

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

Holdings — Q2 2021

47 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RAPT THERAPEUTICS INCCOM4.98%$18M570.0K
2ASCENDIS PHARMA A/SSPONSORED ADR4.88%$18M135.0K
3FATEFATE THERAPEUTICS INChistory →COM4.41%$16M185.0K
4XENEXENON PHARMACEUTICALS INChistory →COM4.35%$16M850.0K
5ARVNARVINAS INChistory →COM4.34%$16M205.0K
6SNDXSYNDAX PHARMACEUTICALS INChistory →COM4.13%$15M875.0K
7KURAKURA ONCOLOGY INChistory →COM4.01%$15M700.0K
8COGTCOGENT BIOSCIENCES INChistory →COM3.57%$13M1.60M
9TREURTRILLIUM THERAPEUTICS INChistory →COM NEW3.33%$12M1.25M
10IOVAIOVANCE BIOTHERAPEUTICS INChistory →COM3.22%$12M450.0K
11BIIBBIOGEN INChistory →COM3.09%$11M32.5K
12TCE2CELLDEX THERAPEUTICS INC NEWhistory →COM NEW2.62%$10M285.0K
13MRTXEURMIRATI THERAPEUTICS INChistory →COM2.22%$8M50.0K
14ALLOALLOGENE THERAPEUTICS INChistory →COM1.97%$7M275.0K
15TGTXTG THERAPEUTICS INChistory →COM1.92%$7M180.0K
16ALDXALDEYRA THERAPEUTICS INChistory →COM1.87%$7M600.0K
17VRNAVERONA PHARMA PLChistory →SPONSORED ADS1.80%$7M1.00M
18VRDNVIRIDIAN THERAPEUTICS INChistory →COM1.76%$6M350.0K
19STSAUSDSATSUMA PHARMACEUTICALS INChistory →COM1.75%$6M904.2K
20VTGNUSDVISTAGEN THERAPEUTICS INChistory →COM NEW1.73%$6M2.00M
21MERSANA THERAPEUTICS INCCOM1.68%$6M450.0K
22BCYCBICYCLE THERAPEUTICS PLChistory →SPONSORED ADS1.67%$6M200.0K
23EPIEURESSA PHARMA INChistory →COM NEW1.63%$6M207.5K
24RCKTROCKET PHARMACEUTICALS INChistory →COM1.52%$6M125.0K
25HELIX ACQUISITION CORPCOM CL A1.42%$5M500.0K
26GALAPAGOS NVSPON ADR1.42%$5M75.0K
27TARSTARSUS PHARMACEUTICALS INChistory →COM1.35%$5M170.0K
28CRNXCRINETICS PHARMACEUTICALS INhistory →COM1.26%$5M243.3K
29OPHTEURIVERIC BIO INChistory →COM1.26%$5M725.0K
30ACRSACLARIS THERAPEUTICS INChistory →COM1.21%$4M250.0K
31CATALYST BIOSCIENCES INCCOM NEW1.19%$4M1.00M
32CTIC1USDCTI BIOPHARMA CORPhistory →COM1.10%$4M1.60M
33SIERRA ONCOLOGY INCCOM NEW1.07%$4M200.0K
34HRMYHARMONY BIOSCIENCES HLDGS INCOM0.97%$4M125.0K
35PCVXVAXCYTE INCCOM0.90%$3M145.0K
36VTLUSDIMMUNIC INCCOM0.89%$3M265.0K
37KDMNKADMON HLDGS INCCOM0.85%$3M800.0K
38AM6AMICUS THERAPEUTICS INCCOM0.70%$3M265.0K
39CURIS INCCOM NEW0.55%$2M247.1K
40CEREVEL THERAPEUTICS HLDNG ICOM0.53%$2M75.0K
41CMRXEURCHIMERIX INCCOM0.44%$2M200.0K
42MERUS N VCOM0.43%$2M75.0K
43ELEVATION ONCOLOGY INCCOM0.37%$1M100.0K
44CASIEURCASI PHARMACEUTICALS INCCOM0.28%$1M650.0K
45OTICEUROTONOMY INCCOM0.28%$1M450.0K
46LRMRLARIMAR THERAPEUTICS INCCOM0.27%$982,000100.0K
47MRNAMODERNA INCCOM0.26%$940,0004.0K

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 ↗.