SEC 13F Intelligence

Managers / Q1 2024 · view latest →

Ghost Tree Capital, LLC

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

Reported Value
$361M
Q1 2024
Positions
72
Filings on Record
32
2019–present window
Filed
May 15, 2024
original filing

Summary

Ghost Tree Capital, LLC reported $361M in U.S.-listed holdings across 72 positions for Q1 2024.

Its largest position, AXSM, represents 4.6% of the portfolio.

Compared with Q4 2023, the fund opened 29 new positions and exited 10.

Portfolio Metrics

Turnover
+36.9%
vs prior filed quarter
Top-10 Concentration
+36.0%
share of reported value
Largest Position
+4.6%
Axsome Therapeutics
New / Exited
29 / 10
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: 79.5%Other: 13.1%ETP: 6.6%ADR: 0.9%
  • Common Stock · 79.5% · $287M
  • Other · 13.1% · $47M
  • ETP · 6.6% · $24M
  • ADR · 0.9% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VKTXVIKING THERAPEUTICS INCNEW+153.0K153.0K+$13M$13M
IMVTIMMUNOVANT INCNEW+275.0K275.0K+$9M$9M
2655787DBLUEPRINT MEDICINES CORPNEW+72.8K72.8K+$7M$7M
RYTMRHYTHM PHARMACEUTICALS INCNEW+125.0K125.0K+$5M$5M
IM8NINSMED INCNEW+150.0K150.0K+$4M$4M
TNYATENAYA THERAPEUTICS INCNEW+775.0K775.0K+$4M$4M
SYRESPYRE THERAPEUTICS INCNEW+100.0K100.0K+$4M$4M
SNDXSYNDAX PHARMACEUTICALS INCNEW+150.0K150.0K+$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 2024

43 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1AXSMAXSOME THERAPEUTICS INChistory →COM4.64%$17M210.0K
2SRPTSAREPTA THERAPEUTICS INChistory →COM4.48%$16M125.0K
3BIOHAVEN LTDCOM4.31%$16M285.0K
4MLTXMOONLAKE IMMUNOTHERAPEUTICShistory →CLASS A ORD4.17%$15M300.0K
5ROIVANT SCIENCES LTDSHS3.79%$14M1.30M
6TGTXTG THERAPEUTICS INChistory →COM3.47%$13M825.0K
7VRDNVIRIDIAN THERAPEUTICS INChistory →COM3.03%$11M625.0K
8TARSTARSUS PHARMACEUTICALS INChistory →COM3.02%$11M300.0K
9CRNXCRINETICS PHARMACEUTICALS INhistory →COM2.59%$9M200.0K
10ALNYALNYLAM PHARMACEUTICALS INChistory →COM2.48%$9M60.0K
11SLNOEURSOLENO THERAPEUTICS INChistory →COM2.37%$9M200.0K
12YB4PSAVARA INChistory →COM2.21%$8M1.60M
13APLSUSDAPELLIS PHARMACEUTICALS INChistory →COM2.12%$8M130.0K
14ISREURPERSPECTIVE THERAPEUTICS INChistory →COM1.98%$7M6.00M
152655787DBLUEPRINT MEDICINES CORPhistory →COM1.91%$7M72.8K
16AEROVATE THERAPEUTICS INCCOM1.84%$7M225.0K
17PCVXVAXCYTE INChistory →COM1.80%$6M95.0K
18CABACABALETTA BIO INChistory →COM1.77%$6M375.0K
19VKTXVIKING THERAPEUTICS INChistory →COM1.66%$6M73.0K
20RYTMRHYTHM PHARMACEUTICALS INChistory →COM1.50%$5M125.0K
21BBIOBRIDGEBIO PHARMA INChistory →COM1.50%$5M175.0K
22REPLREPLIMUNE GROUP INChistory →COM1.47%$5M650.0K
23PHATPHATHOM PHARMACEUTICALS INChistory →COM1.43%$5M485.0K
24ACADACADIA PHARMACEUTICALS INChistory →COM1.15%$4M225.0K
25IM8NINSMED INChistory →COM PAR $.011.13%$4M150.0K
26TNYATENAYA THERAPEUTICS INChistory →COM1.12%$4M775.0K
27IMVTIMMUNOVANT INChistory →COM1.12%$4M125.0K
28SYRESPYRE THERAPEUTICS INChistory →COM NEW1.05%$4M100.0K
29SNDXSYNDAX PHARMACEUTICALS INCCOM0.99%$4M150.0K
30ENGENE HOLDINGS INCCOM0.94%$3M200.0K
31CGONCG ONCOLOGY INCCOM0.91%$3M75.0K
32GPCRSTRUCTURE THERAPEUTICS INCSPONSORED ADS0.89%$3M75.0K
33HELIX ACQUISITION CORP IICL A ORD SHS0.86%$3M300.0K
34COGTCOGENT BIOSCIENCES INCCOM0.84%$3M450.0K
35AQSTAQUESTIVE THERAPEUTICS INCCOM0.83%$3M702.9K
36DCPHEURDECIPHERA PHARMACEUTICALS INCOM0.77%$3M176.5K
37TSHATAYSHA GENE THERAPIES INCCOM SHS0.75%$3M950.0K
38GONGERON CORPCOM0.73%$3M800.0K
39MARINUS PHARMACEUTICALS INCCOM NEW0.71%$3M285.0K
40ALTALTIMMUNE INCCOM NEW0.70%$3M250.0K
41RGNXREGENXBIO INCCOM0.70%$3M120.0K
42KRYSKRYSTAL BIOTECH INCCOM0.69%$2M14.0K
434XC1KALVISTA PHARMACEUTICALS INCCOM0.66%$2M200.0K

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 ↗.