Ghost Tree Capital 13F annual report
Ghost Tree Capital is an investment fund managing more than $287 billion ran by Matthew Diaz. There are currently 59 companies in Mr. Diaz’s portfolio. The largest investments include Biohaven Ltd and Moonlake Immunotherapeutics, together worth $30.2 billion.
$287 billion Assets Under Management (AUM)
As of 7th August 2024, Ghost Tree Capital’s top holding is 490,000 shares of Biohaven Ltd currently worth over $17 billion and making up 5.9% of the portfolio value.
Relative to the number of outstanding shares of Biohaven Ltd, Ghost Tree Capital owns more than approximately 0.1% of the company.
In addition, the fund holds 300,000 shares of Moonlake Immunotherapeutics worth $13.2 billion.
The third-largest holding is Soleno Therapeutics Inc worth $12.2 billion and the next is Axsome Therapeutics Inc worth $12.1 billion, with 150,000 shares owned.
Currently, Ghost Tree Capital's portfolio is worth at least $287 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Ghost Tree Capital
The Ghost Tree Capital office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Matthew Diaz serves as the CHIEF COMPLIANCE OFFICER at Ghost Tree Capital.
Recent trades
In the most recent 13F filing, Ghost Tree Capital revealed that it had opened a new position in
Ascendis Pharma A/S and bought 86,721 shares worth $11.8 billion.
This means they effectively own approximately 0.1% of the company.
Ascendis Pharma A/S makes up
6.3%
of the fund's Health Care sector allocation and has grown its share price by 51.5% in the past year.
The investment fund also strengthened its position in Biohaven Ltd by buying
205,000 additional shares.
This makes their stake in Biohaven Ltd total 490,000 shares worth $17 billion.
Biohaven Ltd soared 91.6% in the past year.
On the other hand, there are companies that Ghost Tree Capital is getting rid of from its portfolio.
Ghost Tree Capital closed its position in Perspective Therapeutics Inc on 14th August 2024.
It sold the previously owned 6,000,000 shares for $7.14 billion.
Matthew Diaz also disclosed a decreased stake in Axsome Therapeutics Inc by 0.3%.
This leaves the value of the investment at $12.1 billion and 150,000 shares.
One of the smaller hedge funds
The two most similar investment funds to Ghost Tree Capital are Main Street Ltd and Sio Capital Management. They manage $288 billion and $287 billion respectively.
Matthew Diaz investment strategy
Ghost Tree Capital’s portfolio is diversified across 2 sectors.
Currently, their heaviest sector is Health Care — making up 65.3% of
the total portfolio value.
The fund focuses on investments in the United States as
61.0% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are small-cap stocks.
Stocks with a size of more than $100 million in market cap make up
8% of the total holdings value.
On the other hand, large-cap stocks make up only 3.4% of the portfolio.
The average market cap of the portfolio companies is close to $2.63 billion.
The complete list of Ghost Tree Capital trades based on 13F SEC filings
These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Biohaven Ltd |
71.93%
490,000
|
$17,007,900,000 | 5.92% |
| Moonlake Immunotherapeutics |
No change
300,000
|
$13,191,000,000 | 4.59% |
| Soleno Therapeutics Inc |
50.00%
300,000
|
$12,240,000,000 | 4.26% |
| Axsome Therapeutics Inc |
28.57%
150,000
|
$12,075,000,000 | 4.20% |
| Ascendis Pharma A/S |
Opened
86,721
|
$11,827,010,000 | 4.12% |
| Vaxcyte, Inc. |
57.89%
150,000
|
$11,326,500,000 | 3.94% |
| Crinetics Pharmaceuticals In |
20.00%
240,000
|
$10,749,600,000 | 3.74% |
| Roivant Sciences Ltd |
23.08%
1,000,000
|
$10,570,000,000 | 3.68% |
| Perspective Therapeutics Inc |
Opened
925,000
|
$9,222,250,000 | 3.21% |
| TG Therapeutics Inc |
39.39%
500,000
|
$8,895,000,000 | 3.10% |
| Sarepta Therapeutics Inc |
56.00%
55,000
|
$8,690,000,000 | 3.02% |
| Cg Oncology Inc |
246.67%
260,000
|
$8,208,200,000 | 2.86% |
| Corbus Pharmaceuticals Hldgs |
207.34%
175,000
|
$7,918,750,000 | 2.76% |
| Viridian Therapeutics Inc |
5.97%
587,708
|
$7,646,081,000 | 2.66% |
| Syndax Pharmaceuticals Inc |
133.33%
350,000
|
$7,185,500,000 | 2.50% |
| Perspective Therapeutics Inc |
Closed
6,000,000
|
$7,140,000,000 | |
| Immunovant Inc |
108.00%
260,000
|
$6,864,000,000 | 2.39% |
| Aerovate Therapeutics Inc |
Closed
225,000
|
$6,653,250,000 | |
| Tarsus Pharmaceuticals, Inc. |
21.67%
235,000
|
$6,387,300,000 | 2.22% |
| Phathom Pharmaceuticals Inc |
23.71%
600,000
|
$6,180,000,000 | 2.15% |
| Rezolute Inc |
Opened
1,421,501
|
$6,112,454,000 | 2.13% |
| Olema Pharmaceuticals, Inc. |
175.00%
550,000
|
$5,951,000,000 | 2.07% |
| Spyre Therapeutics Inc |
150.24%
250,237
|
$5,883,072,000 | 2.05% |
| Alnylam Pharmaceuticals Inc |
62.50%
22,500
|
$5,467,500,000 | 1.90% |
| Apellis Pharmaceuticals Inc |
3.85%
135,000
|
$5,178,600,000 | 1.80% |
| Viking Therapeutics Inc |
30.13%
95,000
|
$5,035,950,000 | 1.75% |
| Rhythm Pharmaceuticals Inc. |
6.09%
117,388
|
$4,819,951,000 | 1.68% |
| Insmed Inc |
56.67%
65,000
|
$4,355,000,000 | 1.52% |
| Blueprint Medicines Corp |
45.03%
40,000
|
$4,311,200,000 | 1.50% |
| Savara Inc |
34.32%
1,050,876
|
$4,235,030,000 | 1.47% |
| Tenaya Therapeutics Inc |
74.19%
1,350,000
|
$4,185,000,000 | 1.46% |
| Replimune Group Inc |
30.77%
450,000
|
$4,050,000,000 | 1.41% |
| Engene Holdings Inc |
110.17%
420,331
|
$3,963,721,000 | 1.38% |
| Acadia Pharmaceuticals Inc |
No change
225,000
|
$3,656,250,000 | 1.27% |
| BridgeBio Pharma Inc |
20.00%
140,000
|
$3,546,200,000 | 1.23% |
| Korro Bio Inc |
Opened
100,000
|
$3,387,000,000 | 1.18% |
| Nuvation Bio Inc |
Opened
1,150,000
|
$3,358,000,000 | 1.17% |
| Structure Therapeutics Inc |
Closed
75,000
|
$3,214,500,000 | |
| Helix Acquisition Corp Ii |
No change
300,000
|
$3,066,000,000 | 1.07% |
| Cogent Biosciences, Inc. |
Closed
450,000
|
$3,024,000,000 | |
| Aquestive Therapeutics Inc |
Closed
702,941
|
$2,994,529,000 | |
| Taysha Gene Therapies, Inc. |
31.58%
1,250,000
|
$2,800,000,000 | 0.97% |
| Deciphera Pharmaceuticals In |
Closed
176,513
|
$2,776,549,000 | |
| Cabaletta Bio Inc |
1.09%
370,899
|
$2,774,325,000 | 0.97% |
| Geron Corp. |
Closed
800,000
|
$2,640,000,000 | |
| Marinus Pharmaceuticals Inc |
Closed
285,000
|
$2,576,400,000 | |
| Neurogene Inc |
180.00%
70,000
|
$2,547,300,000 | 0.89% |
| Altimmune Inc |
Closed
250,000
|
$2,545,000,000 | |
| KalVista Pharmaceuticals Inc |
Closed
200,000
|
$2,372,000,000 | |
| Natera Inc |
Closed
25,000
|
$2,286,500,000 | |
| Protagonist Therapeutics Inc |
Closed
75,000
|
$2,169,750,000 | |
| Janux Therapeutics Inc |
Opened
50,000
|
$2,094,500,000 | 0.73% |
| Arvinas Inc |
87.50%
75,000
|
$1,996,500,000 | 0.69% |
| Regenxbio Inc |
41.67%
170,000
|
$1,989,000,000 | 0.69% |
| EyePoint Pharmaceuticals Inc |
Closed
90,000
|
$1,860,300,000 | |
| Cytokinetics Inc |
66.00%
33,200
|
$1,798,776,000 | 0.63% |
| Madrigal Pharmaceuticals Inc |
Closed
6,500
|
$1,735,760,000 | |
| Elevation Oncology Inc |
140.00%
600,000
|
$1,620,000,000 | 0.56% |
| Astria Therapeutics Inc |
Closed
115,000
|
$1,618,625,000 | |
| Larimar Therapeutics, Inc. |
Closed
210,603
|
$1,598,477,000 | |
| Krystal Biotech Inc |
39.29%
8,500
|
$1,560,940,000 | 0.54% |
| Annexon Inc |
Opened
310,000
|
$1,519,000,000 | 0.53% |
| Proqr Thrapeutics N V |
Opened
900,000
|
$1,494,000,000 | 0.52% |
| Atyr Pharma Inc |
33.33%
800,000
|
$1,248,000,000 | 0.43% |
| Wave Life Sciences Ltd. |
Opened
200,000
|
$998,000,000 | 0.35% |
| Ultragenyx Pharmaceutical In |
Closed
20,000
|
$933,800,000 | |
| Arrowhead Pharmaceuticals In |
No change
35,000
|
$909,650,000 | 0.32% |
| Uniqure Nv |
Closed
165,000
|
$858,000,000 | |
| Sagimet Biosciences Inc |
No change
225,000
|
$769,500,000 | 0.27% |
| Intra-Cellular Therapies Inc |
Opened
10,000
|
$684,900,000 | 0.24% |
| Macrogenics Inc |
Opened
150,000
|
$637,500,000 | 0.22% |
| Pmv Pharmaceuticals Inc |
44.44%
375,000
|
$607,500,000 | 0.21% |
| PTC Therapeutics Inc |
Opened
19,000
|
$581,020,000 | 0.20% |
| Revance Therapeutics Inc |
50.00%
225,000
|
$578,250,000 | 0.20% |
| Intellia Therapeutics Inc |
No change
25,000
|
$559,500,000 | 0.19% |
| An2 Therapeutics Inc |
No change
219,331
|
$471,562,000 | 0.16% |
| CytomX Therapeutics Inc |
50.00%
300,000
|
$366,000,000 | 0.13% |
| No transactions found | |||
| Showing first 500 out of 77 holdings | |||
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