Deep Track Capital, LP 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Deep Track Capital, LP disclosed 53 US equity positions worth $4.4bn in its Q4 2025 13F filing. The largest position was IMVT at 6.7% of the reported book, followed by GH and GPCR. Against the Q3 2025 filing, it opened 12 new positions, added to 17 and reduced 15 among the top 50 holdings.
What did Deep Track Capital, LP own in Q4 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | IMVT IMMUNOVANT INC | Healthcare | 6.7% | $293.0m | 11,526,971 | 18% | added |
| 2 | GH GUARDANT HEALTH INC | Healthcare | 6.5% | $286.0m | 2,800,000 | -33% | reduced |
| 3 | GPCR STRUCTURE THERAPEUTICS INC | Healthcare | 6.5% | $286.0m | 4,111,782 | -2% | reduced |
| 4 | TARS TARSUS PHARMACEUTICALS INC | Healthcare | 5.6% | $246.0m | 3,004,034 | 0% | held |
| 5 | DVAX DYNAVAX TECHNOLOGIES CORP | 5.5% | $241.9m | 15,726,349 | 0% | held | |
| 6 | CYTK CYTOKINETICS INC | Healthcare | 4.8% | $212.0m | 3,336,998 | -22% | reduced |
| 7 | AXSM AXSOME THERAPEUTICS INC | Healthcare | 4.8% | $210.0m | 1,150,000 | 28% | added |
| 8 | APLSUSD APELLIS PHARMACEUTICALS INC | 4.4% | $194.7m | 7,750,000 | -3% | reduced | |
| 9 | PCVX VAXCYTE INC | Healthcare | 4.2% | $184.6m | 4,000,000 | 33% | added |
| 10 | MAZE MAZE THERAPEUTICS INC | 4.0% | $175.9m | 4,246,440 | 8% | added | |
| 11 | VERA VERA THERAPEUTICS INC | Healthcare | 3.3% | $142.9m | 2,821,135 | – | new |
| 12 | BMRN BIOMARIN PHARMACEUTICAL INC | Healthcare | 3.1% | $136.7m | 2,300,000 | 9153% | added |
| 13 | IONS IONIS PHARMACEUTICALS INC | Healthcare | 3.1% | $134.5m | 1,700,000 | -55% | reduced |
| 14 | NRIX NURIX THERAPEUTICS INC | Healthcare | 3.0% | $133.5m | 7,036,455 | 16% | added |
| 15 | MBX MBX BIOSCIENCES INC | Healthcare | 2.3% | $102.5m | 3,249,790 | 3% | added |
| 16 | OCUL OCULAR THERAPEUTIX INC | Healthcare | 2.2% | $98.0m | 8,070,414 | -32% | reduced |
| 17 | GRAL GRAIL INC | 2.0% | $87.5m | 1,022,797 | – | new | |
| 18 | VRDN VIRIDIAN THERAPEUTICS INC | Healthcare | 1.8% | $78.6m | 2,524,833 | -53% | reduced |
| 19 | LB PHARMACEUTICALS INC | 1.7% | $74.6m | 3,352,804 | 0% | held | |
| 20 | IMCR IMMUNOCORE HLDGS PLC | Healthcare | 1.6% | $69.6m | 2,003,978 | 11% | added |
| 21 | ORKA ORUKA THERAPEUTICS INC | Healthcare | 1.5% | $65.5m | 2,161,510 | -19% | reduced |
| 22 | BBIO BRIDGEBIO PHARMA INC | Healthcare | 1.4% | $62.0m | 810,142 | -32% | reduced |
| 23 | CRMD CORMEDIX INC | 1.4% | $61.3m | 5,274,076 | 955% | added | |
| 24 | MLTX MOONLAKE IMMUNOTHERAPEUTICS | Healthcare | 1.4% | $60.8m | 4,610,071 | – | new |
| 25 | ALKS ALKERMES PLC | Healthcare | 1.3% | $56.0m | 2,000,000 | – | new |
| 26 | DYN DYNE THERAPEUTICS INC | Healthcare | 1.2% | $51.8m | 2,650,000 | 32% | added |
| 27 | CLDX CELLDEX THERAPEUTICS INC NEW | Healthcare | 1.2% | $51.6m | 1,900,738 | -5% | reduced |
| 28 | CMPS COMPASS PATHWAYS PLC | Healthcare | 1.2% | $50.6m | 7,334,323 | -7% | reduced |
| 29 | CNTA CENTESSA PHARMACEUTICALS PLC | 1.1% | $50.0m | 2,000,000 | – | new | |
| 30 | SLNOEUR SOLENO THERAPEUTICS INC | 1.1% | $46.3m | 1,000,000 | – | new | |
| 31 | VSTM VERASTEM INC | Healthcare | 1.0% | $44.3m | 5,740,850 | – | new |
| 32 | BCAX BICARA THERAPEUTICS INC | 1.0% | $44.0m | 2,614,004 | 8% | added | |
| 33 | GERN GERON CORP | Healthcare | 1.0% | $42.9m | 32,511,271 | -21% | reduced |
| 34 | ENGENE HOLDINGS INC | 0.9% | $39.5m | 4,377,572 | 95% | added | |
| 35 | ANIP ANI PHARMACEUTICALS INC | Healthcare | 0.9% | $37.7m | 477,684 | 6% | added |
| 36 | 430 TERNS PHARMACEUTICALS INC | 0.7% | $31.1m | 769,048 | -90% | reduced | |
| 37 | ENTA ENANTA PHARMACEUTICALS INC | Healthcare | 0.7% | $30.9m | 1,956,867 | – | new |
| 38 | BRD1EUR MIND MEDICINE MINDMED INC | 0.5% | $22.4m | 1,676,540 | 12% | added | |
| 39 | TNGX TANGO THERAPEUTICS INC | Healthcare | 0.5% | $21.7m | 2,454,562 | 69% | added |
| 40 | XFOR X4 PHARMACEUTICALS INC | 0.5% | $20.1m | 5,013,661 | 347% | added | |
| 41 | ATAI BECKLEY NV | 0.4% | $19.1m | 4,677,289 | – | new | |
| 42 | XENE XENON PHARMACEUTICALS INC | Healthcare | 0.4% | $16.4m | 366,435 | -69% | reduced |
| 43 | COGT COGENT BIOSCIENCES INC | Healthcare | 0.4% | $16.1m | 453,102 | – | new |
| 44 | HELP CYBIN INC | 0.3% | $15.2m | 1,854,255 | 85% | added | |
| 45 | CNTX CONTEXT THERAPEUTICS INC | 0.2% | $10.9m | 7,419,355 | 0% | held | |
| 46 | MNPR MONOPAR THERAPEUTICS INC | 0.1% | $6.2m | 95,408 | – | new | |
| 47 | CBIO CRESCENT BIOPHARMA INC. | 0.1% | $5.4m | 453,686 | 0% | held | |
| 48 | ALGS ALIGOS THERAPEUTICS INC | 0.1% | $4.1m | 444,110 | 0% | held | |
| 49 | BLLN BILLIONTOONE INC | 0.1% | $4.1m | 50,000 | – | new | |
| 50 | RAPT RAPT THERAPEUTICS INC | 0.1% | $3.7m | 110,448 | -85% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.