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Livermore
Livermore
ZHEN

Deep Track Capital, LP

SEC CIK
0001856083
Latest filing
Aug 14, 2026

Holdings in Q4 2025

Holdings as of Dec 31, 2025, filed Feb 13, 2026. Long positions only; changes compare share counts with Q3 2025.

Institution overview
Positions
53
−3 vs. Q3 2025
Portfolio value
$4.38B
+$800.5M (+22.3%) vs. Q3 2025
Filed
Feb 13, 2026
SEC
Holdings of Deep Track Capital, LP in Q4 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
IMVTImmunovant, Inc.COM11,526,971$293.0M6.7%+1,798,126+18.5%AddedHistory
GHGuardant Health, Inc.COM2,800,000$286.0M6.5%−1,354,086−32.6%ReducedHistory
GPCRStructure Therapeutics Inc.SPONSORED ADS4,111,782$286.0M6.5%−104,029−2.5%ReducedHistory
TARSTarsus Pharmaceuticals, Inc.COM3,004,034$246.0M5.6%+4,034+0.1%AddedHistory
DVAXDynavax Technologies CorpCOM NEW15,726,349$241.9M5.5%00.0%UnchangedHistory
CYTKCytokinetics IncCOM NEW3,336,998$212.0M4.8%−963,002−22.4%ReducedHistory
AXSMAxsome Therapeutics, Inc.COM1,150,000$210.0M4.8%+250,000+27.8%AddedHistory
APLSApellis Pharmaceuticals, Inc.COM7,750,000$194.7M4.4%−250,382−3.1%ReducedHistory
PCVXVaxcyte, Inc.COM4,000,000$184.6M4.2%+1,000,000+33.3%AddedHistory
MAZEMaze Therapeutics, Inc.COM4,246,440$175.9M4.0%+297,530+7.5%AddedHistory
VERAVera Therapeutics, Inc.CL A2,821,135$142.9M3.3%+2,821,135NewHistory
BMRNBiomarin Pharmaceutical IncCOM2,300,000$136.7M3.1%+2,275,144+9,153.3%AddedHistory
IONSIonis Pharmaceuticals IncCOM1,700,000$134.5M3.1%−2,108,144−55.4%ReducedHistory
NRIXNurix Therapeutics, Inc.COM7,036,455$133.5M3.0%+979,431+16.2%AddedHistory
MBXMBX Biosciences, Inc.COM3,249,790$102.5M2.3%+99,790+3.2%AddedHistory
OCULOcular Therapeutix, IncCOM8,070,414$98.0M2.2%−3,861,723−32.4%ReducedHistory
GRALGRAIL, Inc.COM1,022,797$87.5M2.0%+1,022,797NewHistory
VRDNViridian Therapeutics, Inc.COM2,524,833$78.6M1.8%−2,855,616−53.1%ReducedHistory
LBRXLB Pharmaceuticals IncCOM SHS3,352,804$74.6M1.7%00.0%UnchangedHistory
IMCRImmunocore Holdings plcADS2,003,978$69.6M1.6%+203,978+11.3%AddedHistory
ORKAOruka Therapeutics, Inc.COM2,161,510$65.5M1.5%−493,271−18.6%ReducedHistory
BBIOBridgeBio Pharma, Inc.COM810,142$62.0M1.4%−389,858−32.5%ReducedHistory
CRMDCorMedix Inc.COM5,274,076$61.3M1.4%+4,774,076+954.8%AddedHistory
MLTXMoonLake ImmunotherapeuticsCLASS A ORD4,610,071$60.8M1.4%+4,610,071NewHistory
ALKSAlkermes plc.SHS2,000,000$56.0M1.3%+2,000,000NewHistory
DYNDyne Therapeutics, Inc.COM2,650,000$51.8M1.2%+650,000+32.5%AddedHistory
CLDXCelldex Therapeutics, Inc.COM NEW1,900,738$51.6M1.2%−99,262−5.0%ReducedHistory
CMPSCOMPASS Pathways plcSPONSORED ADS7,334,323$50.6M1.2%−525,325−6.7%ReducedHistory
CNTACentessa Pharmaceuticals plcSPONSORED ADS2,000,000$50.0M1.1%+2,000,000NewHistory
SLNOSoleno Therapeutics IncCOM1,000,000$46.3M1.1%+1,000,000NewHistory
VSTMVerastem, Inc.COM NEW5,740,850$44.3M1.0%+5,740,850NewHistory
BCAXBicara Therapeutics Inc.COM2,614,004$44.0M1.0%+187,347+7.7%AddedHistory
GERNGeron CorpCOM32,511,271$42.9M1.0%−8,585,251−20.9%ReducedHistory
ENGNenGene Therapeutics Inc.COM4,377,572$39.5M0.9%+2,138,219+95.5%AddedHistory
ANIPAni Pharmaceuticals IncCOM477,684$37.7M0.9%+27,684+6.2%AddedHistory
TERNTerns Pharmaceuticals, Inc.COM769,048$31.1M0.7%−6,725,952−89.7%ReducedHistory
ENTAEnanta Pharmaceuticals IncCOM1,956,867$30.9M0.7%+1,956,867NewHistory
DFTXDefinium Therapeutics, Inc.Stock1,676,540$22.4M0.5%+176,540+11.8%AddedHistory
TNGXTango Therapeutics, Inc.COM2,454,562$21.7M0.5%+1,000,000+68.7%AddedHistory
XFORX4 Pharmaceuticals, IncCOM NEW5,013,661$20.1M0.5%+3,891,177+346.7%AddedHistory
ATAIAtai Beckley N.V.SHS4,677,289$19.1M0.4%+4,677,289NewHistory
XENEXenon Pharmaceuticals Inc.COM366,435$16.4M0.4%−833,565−69.5%ReducedHistory
COGTCogent Biosciences, Inc.COM453,102$16.1M0.4%+453,102NewHistory
HELPCybin Inc.COM NEW1,854,255$15.2M0.3%+854,255+85.4%AddedHistory
CNTXContext Therapeutics Inc.COM7,419,355$10.9M0.2%00.0%UnchangedHistory
MNPRMonopar TherapeuticsCOM NEW95,408$6.23M0.1%+95,408NewHistory
CBIOCrescent Biopharma, Inc.COM453,686$5.38M0.1%00.0%UnchangedHistory
ALGSAligos Therapeutics, Inc.COM NEW444,110$4.14M0.1%00.0%UnchangedHistory
BLLNBillionToOne, Inc.CL A50,000$4.09M0.1%+50,000NewHistory
RAPTRAPT Therapeutics, Inc.COM NEW110,448$3.74M0.1%−640,974−85.3%ReducedHistory
IVAInventiva S.A.ADS490,000$2.28M0.1%+490,000NewHistory
JANXJanux Therapeutics, Inc.COM89,589$1.24M<0.1%+89,589NewHistory
ANLAdlai Nortye Group Ltd.ADS34,852$49.5K<0.1%+34,852NewHistory

Options (2)

Puts and calls in the same filing. Amounts are the market value of the underlying shares, which is what 13F reports.

Option positions of Deep Track Capital, LP in Q4 2025
SecurityClassPutsCalls
State Street SPDR S&P Biotech ETF78464A870ETF$1.22B–
BHVNBiohaven Ltd.COM–$5.64M

Sold out since Q3 2025 (18)

Positions held at the end of Q3 2025 that are gone from this filing.

Positions of Deep Track Capital, LP sold out since Q3 2025
SecurityClassShares in Q3 2025Value in Q3 2025% of portfolio in Q3 2025History
AKROAkero Therapeutics, Inc.COM4,000,978$190.0M5.3%History
ETNB89bio, Inc.COM9,356,171$137.5M3.8%History
PTGXProtagonist Therapeutics, IncCOM1,715,691$114.0M3.2%History
EXASExact Sciences CorpCOM1,000,000$54.7M1.5%History
OLMAOlema Pharmaceuticals, Inc.COM3,470,172$34.0M0.9%History
CDTXCidara Therapeutics, Inc.COM NEW300,000$28.7M0.8%History
QUREuniQure N.V.SHS483,092$28.2M0.8%History
JBIOJade Biosciences, Inc.COM NEW2,279,892$19.7M0.5%History
GHRSGH Research PLCORDINARY SHARES1,250,000$17.9M0.5%History
GMABGenmab A/SSPONSORED ADS481,267$14.8M0.4%History
IMAImageneBio, Inc.COM878,516$7.16M0.2%History
XNCRXencor IncCOM549,439$6.44M0.2%History
PEPGPepGen Inc.COM1,200,000$5.54M0.2%History
AUTLAutolus Therapeutics plcSPON ADS2,568,613$4.19M0.1%History
ACADAcadia Pharmaceuticals IncCOM105,085$2.24M0.1%History
AVTXAvalo Therapeutics, Inc.COM NEW144,600$1.84M0.1%History
ZURAZura Bio LtdCLASS A ORD SHS259,014$1.12M<0.1%History
CLYMClimb Bio, Inc.COM509,789$1.02M<0.1%History