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Deep Track Capital, LP

Q4 2025 · Filed 2026-02-13
Market Value
$4.3B
+20.4%
Holdings
63
-8
New Purchases
13
Added To
16
Closed
16
Reduced
15
Top 10 Concentration
54.7%
Turnover
46.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GPCR 6.71% 3.34% +3.38% $286M
VERA 3.35% 0.00% +3.35% $143M
BMRN 3.21% 0.04% +3.17% $137M
IMVT 6.88% 4.43% +2.45% $293M
GRAL 2.06% 0.00% +2.06% $88M
AXSM 4.93% 3.09% +1.84% $210M
NRIX 3.13% 1.58% +1.55% $133M
MLTX 1.43% 0.00% +1.43% $61M
ALKS 1.31% 0.00% +1.31% $56M
PCVX 4.33% 3.05% +1.28% $185M
CRMD 1.44% 0.16% +1.28% $61M
DVAX 5.68% 4.41% +1.26% $242M
MAZE 4.13% 2.89% +1.24% $176M
CNTA 1.17% 0.00% +1.17% $50M
0LOV.L 1.04% 0.00% +1.04% $44M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
AKRO 0.00% 5.37% -5.37% $0
ETNB 0.00% 3.89% -3.89% $0
IONS 3.16% 7.04% -3.89% $134M
PTGX 0.00% 3.22% -3.22% $0
CYTK 4.98% 6.68% -1.70% $212M
OCUL 2.30% 3.94% -1.64% $98M
EXAS 0.00% 1.55% -1.55% $0
VRDN 1.84% 3.28% -1.44% $79M
XENE 0.39% 1.36% -0.98% $16M
OLMA 0.00% 0.96% -0.96% $0
TERN 0.73% 1.59% -0.86% $31M
CDTX 0.00% 0.81% -0.81% $0
QURE 0.00% 0.80% -0.80% $0
GH 6.71% 7.34% -0.62% $286M
GERN 1.01% 1.59% -0.58% $43M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 7 $829M 19.5%
Mid Cap 23 $2.0B 47.2%
Small Cap 28 $1.4B 32.5%
Micro Cap 5 $33M 0.8%

Portfolio Analytics

Avg Market Cap
$3.7B
Median Market Cap
$1.8B
Avg P/E
39.1
Median P/E
29.0
Avg Dividend Yield
—%
Avg Beta
0.93
# Stocks
63
# ETFs / Funds
0

Top Holdings (63 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 IMVT 6.88% 11,526,971 $293M $25.42 $136M +1,798,126 +18.5%
2 GH 6.71% 2,800,000 $286M $102.14 $26M -1,354,086 -32.6%
3 GPCR 6.71% 4,111,782 $286M $69.55 $168M -104,029 -2.5%
4 TARS 5.77% 3,004,034 $246M $81.88 $68M +4,034 +0.1%
5 DVAX 5.68% 15,726,349 $242M $15.38 $86M
6 CYTK 4.98% 3,336,998 $212M $63.54 -$24M -963,002 -22.4%
7 AXSM 4.93% 1,150,000 $210M $182.64 $101M +250,000 +27.8%
8 APLS 4.57% 7,750,000 $195M $25.12 $14M -250,382 -3.1%
9 PCVX 4.33% 4,000,000 $185M $46.14 $76M +1,000,000 +33.3%
10 MAZE 4.13% 4,246,440 $176M $41.43 $74M +297,530 +7.5%
11 VERA 3.35% 2,821,135 $143M $50.64 +2,821,135 NEW
12 BMRN 3.21% 2,300,000 $137M $59.43 $135M +2,275,144 +9153.3%
13 IONS 3.16% 1,700,000 $134M $79.11 -$115M -2,108,144 -55.4%
14 NRIX 3.13% 7,036,455 $133M $18.97 $78M +979,431 +16.2%
15 MBX 2.41% 3,249,790 $102M $31.54 $47M +99,790 +3.2%
16 OCUL 2.30% 8,070,414 $98M $12.14 -$42M -3,861,723 -32.4%
17 GRAL 2.06% 1,022,797 $88M $85.59 +1,022,797 NEW
18 VRDN 1.84% 2,524,833 $79M $31.12 -$38M -2,855,616 -53.1%
19 LBRX 1.75% 3,352,804 $75M $22.26 $22M
20 IMCR 1.63% 2,003,978 $70M $34.71 $4M +203,978 +11.3%
21 ORKA 1.54% 2,161,510 $66M $30.31 $14M -493,271 -18.6%
22 BBIO 1.45% 810,142 $62M $76.49 -$360K -389,858 -32.5%
23 CRMD 1.44% 5,274,076 $61M $11.63 $56M +4,774,076 +954.8%
24 MLTX 1.43% 4,610,071 $61M $13.18 +4,610,071 NEW
25 ALKS 1.31% 2,000,000 $56M $27.98 +2,000,000 NEW
26 DYN 1.22% 2,650,000 $52M $19.56 $27M +650,000 +32.5%
27 CLDX 1.21% 1,900,738 $52M $27.16 -$116K -99,262 -5.0%
28 CMPS 1.19% 7,334,323 $51M $6.90 $6M -525,325 -6.7%
29 CNTA 1.17% 2,000,000 $50M $25.01 +2,000,000 NEW
30 0LOV.L 1.04% 5,740,850 $44M $7.72 +5,740,850 NEW
31 BCAX 1.03% 2,614,004 $44M $16.83 $6M +187,347 +7.7%
32 GERN 1.01% 32,511,271 $43M $1.32 -$13M -8,585,251 -20.9%
33 ANIP 0.89% 477,684 $38M $78.94 -$4M +27,684 +6.2%
34 TERN 0.73% 769,048 $31M $40.40 -$25M -6,725,952 -89.7%
35 ENTA 0.72% 1,956,867 $31M $15.77 +1,956,867 NEW
36 TNGX 0.51% 2,454,562 $22M $8.86 $10M +1,000,000 +68.8%
37 XFOR 0.47% 5,013,661 $20M $4.00 $16M +3,891,177 +346.7%
38 ATAI 0.45% 4,677,289 $19M $4.09 +4,677,289 NEW
39 XENE 0.39% 366,435 $16M $44.82 -$32M -833,565 -69.5%
40 COGT 0.38% 453,102 $16M $35.52 +453,102 NEW
41 CYBN 0.36% 1,854,255 $15M $8.18 $9M +854,255 +85.4%
42 CNTX 0.26% 7,419,355 $11M $1.47 $4M
43 BLLN 0.10% 50,000 $4M $81.84 +50,000 NEW
44 RAPT 0.09% 110,448 $4M $33.87 -$16M -640,974 -85.3%
45 IVA 0.05% 490,000 $2M $4.65 +490,000 NEW
46 JANX 0.03% 89,589 $1M $13.80 +89,589 NEW
47 ANL —% 34,852 $49K $1.42 +34,852 NEW
48 AKRO —% -$190M -4,000,978 -100.0% SOLD
49 PEPG —% -$6M -1,200,000 -100.0% SOLD
50 ACAD —% -$2M -105,085 -100.0% SOLD
51 JBIO —% -$20M -2,279,892 -100.0% SOLD
52 GMAB —% -$15M -481,267 -100.0% SOLD
53 QURE —% -$28M -483,092 -100.0% SOLD
54 XNCR —% -$6M -549,439 -100.0% SOLD
55 IMA —% -$7M -878,516 -100.0% SOLD
56 GHRS —% -$18M -1,250,000 -100.0% SOLD
57 ETNB —% -$138M -9,356,171 -100.0% SOLD
58 PTGX —% -$114M -1,715,691 -100.0% SOLD
59 EXAS —% -$55M -1,000,000 -100.0% SOLD
60 CLYM —% -$1M -509,789 -100.0% SOLD
61 OLMA —% -$34M -3,470,172 -100.0% SOLD
62 AUTL —% -$4M -2,568,613 -100.0% SOLD
63 CDTX —% -$29M -300,000 -100.0% SOLD

Options Breakdown

0 Calls $0 Call Value 1 Puts $1.2B Put Value

Top Puts

SymbolSharesValueStatus
XBI 10,000,000 $1.2B NEW

New Positions

SymbolValue% Port
VERA $143M 3.35%
GRAL $88M 2.06%
MLTX $61M 1.43%
ALKS $56M 1.31%
CNTA $50M 1.17%
0LOV.L $44M 1.04%
ENTA $31M 0.72%
ATAI $19M 0.45%
COGT $16M 0.38%
BLLN $4M 0.10%
IVA $2M 0.05%
JANX $1M 0.03%
ANL $49K —%

Sold Out Positions

SymbolValue% Port
GHRS —%
IMA —%
ACAD —%
GMAB —%
AUTL —%
JBIO —%
CLYM —%
XNCR —%
PTGX —%
PEPG —%
OLMA —%
QURE —%
AKRO —%
EXAS —%
ETNB —%
View SEC EDGAR Filings for Deep Track Capital, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms