Deep Track Capital, LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Deep Track Capital, LP reported 62 stock positions worth $4.8 billion. Its top holding was Guardant Health (GH) at 6.4% of the portfolio, followed by Immunovant (IMVT, 5.9%) and Tarsus Pharmaceuticals (TARS, 5.2%). Compared with Q4 2025, it opened 14 new positions, sold out of 5, added to 25 and reduced 14. The biggest buy was a new position in Alumis (ALMS) and the biggest sale an exit from Dynavax Technologies (DVAX).
- Most Recent 13F
- Q2 2026
- Location
- GREENWICH, CT
- CIK
- 0001856083
- Portfolio Value
- $4.8B (Q1 2026)
- SEC Filing
- 0001856083-26-000003 ↗ filed May 15, 2026
Holdings Value
Holdings 62 stocks · $4.8B
| GH Guardant Health Inc. | 6.36% | 3,338,241 | $308.4M | Add +19.2% |
| IMVT Immunovant Inc. | 5.91% | 11,526,971 | $286.3M | No change |
| TARS Tarsus Pharmaceuticals Inc. | 5.21% | 3,600,000 | $252.5M | Add +19.8% |
| PCVX Vaxcyte Inc. | 5.16% | 4,300,000 | $249.9M | Add +7.5% |
| GPCR Structure Therapeutics Inc. | 4.26% | 4,279,848 | $206.3M | Add +4.1% |
| AXSM Axsome Therapeutics Inc. | 3.84% | 1,100,000 | $185.9M | Reduce -4.3% |
| APLS Apellis Pharmaceuticals Inc. | 3.76% | 4,532,374 | $182.3M | Reduce -41.5% |
| OCUL Ocular Therapeutix Inc. | 3.44% | 19,686,282 | $166.7M | Add +143.9% |
| VERA Vera Therapeutics Inc. | 3.41% | 4,106,067 | $165.2M | Add +45.5% |
| ALMS Alumis Inc. | 3.08% | 6,772,595 | $149.2M | New |
| IONS Ionis Pharmaceuticals Inc. | 3.02% | 1,950,000 | $146.4M | Add +14.7% |
| NUVL Nuvalent Inc. Class A | 2.91% | 1,376,324 | $141.0M | New |
| ALKS Alkermes PLC | 2.62% | 3,590,323 | $127.0M | Add +79.5% |
| CNTA Centessa Pharmaceuticals Ltd. | 2.59% | 3,158,041 | $125.4M | Add +57.9% |
| MLTX Moonlake Immunotherapeutics | 2.46% | 6,408,863 | $119.5M | Add +39.0% |
| MAZE Maze Therapeutics Inc. | 2.14% | 3,477,562 | $103.8M | Reduce -18.1% |
| ORKA Oruka Therapeutics Inc. | 2.06% | 2,034,203 | $99.8M | Reduce -5.9% |
| NRIX Nurix Therapeutics Inc. | 2.03% | 6,345,244 | $98.4M | Reduce -9.8% |
| GMAB Genmab A/S -SP ADR | 2.03% | 3,663,250 | $98.3M | New |
| CYTK Cytokinetics Inc. | 1.87% | 1,374,320 | $90.6M | Reduce -58.8% |
| GRAL Grail Inc. | 1.84% | 1,722,797 | $89.0M | Add +68.4% |
| LBRX LB Pharmaceuticals Inc. | 1.71% | 3,352,804 | $82.7M | No change |
| MBX MBX Biosciences Inc. | 1.70% | 2,757,569 | $82.3M | Reduce -15.2% |
| BCAX Bicara Therapeutics Inc. | 1.67% | 4,062,500 | $80.8M | Add +55.4% |
| CMPS Compass Pathways PLC | 1.39% | 12,161,496 | $67.3M | Add +65.8% |
| BMRN Biomarin Pharmaceutical Inc. | 1.34% | 1,150,000 | $65.0M | Reduce -50.0% |
| BBIO Bridgebio Pharma Inc. | 1.29% | 841,445 | $62.5M | Add +3.9% |
| IMCR Immunocore Holdings PLC-ADR | 1.20% | 1,931,884 | $58.2M | Reduce -3.6% |
| TNGX Tango Therapeutics Inc. | 1.19% | 2,750,000 | $57.5M | Add +12.0% |
| DFTX Definium Therapeutics Inc. | 1.17% | 3,000,000 | $56.7M | Add +78.9% |
| TERN Terns Pharmaceuticals Inc. | 1.17% | 1,073,877 | $56.6M | Add +39.6% |
| GERN Geron Corp. | 0.98% | 31,720,278 | $47.3M | Reduce -2.4% |
| ANIP Ani Pharmaceuticals Inc. | 0.95% | 600,000 | $46.1M | Add +25.6% |
| CRMD Cormedix Inc. | 0.88% | 6,274,076 | $42.6M | Add +19.0% |
| ATAI Ataibeckley Inc. | 0.88% | 12,000,000 | $42.5M | Add +156.6% |
| CLDX Celldex Therapeutics Inc. | 0.84% | 1,283,979 | $40.7M | Reduce -32.5% |
| COGT Cogent Biosciences Inc. | 0.79% | 1,000,000 | $38.5M | Add +120.7% |
| CRVS Corvus Pharmaceuticals Inc. | 0.75% | 2,491,539 | $36.5M | New |
| DYN Dyne Therapeutics Inc. | 0.75% | 2,000,000 | $36.3M | Reduce -24.5% |
| SLNO Soleno Therapeutics Inc. | 0.75% | 1,078,710 | $36.1M | Add +7.9% |
| ACRS Aclaris Therapeutics Inc. | 0.72% | 9,345,000 | $35.0M | New |
| MANE Veradermics Inc. | 0.65% | 500,000 | $31.6M | New |
| VSTM Verastem Inc. | 0.63% | 5,740,850 | $30.4M | No change |
| ENGN Engene Holdings Inc. | 0.62% | 4,377,572 | $29.8M | No change |
| VRDN Viridian Therapeutics Inc. | 0.56% | 1,393,944 | $27.3M | Reduce -44.8% |
| XFOR X4 Pharmaceuticals Inc. | 0.54% | 6,339,535 | $26.2M | Add +26.4% |
| SLDB Solid Biosciences Inc. | 0.53% | 3,565,062 | $25.7M | New |
| ENTA Enanta Pharmaceuticals Inc. | 0.51% | 1,956,867 | $24.7M | No change |
| APGE Apogee Therapeutics Inc. | 0.49% | 285,000 | $24.0M | New |
| KURA Kura Oncology Inc. | 0.44% | 2,643,542 | $21.5M | New |
| IPSC Century Therapeutics Inc. | 0.44% | 9,487,745 | $21.4M | New |
| BEAM Beam Therapeutics Inc. | 0.40% | 820,765 | $19.6M | New |
| CNTX Context Therapeutics Inc. | 0.40% | 7,419,355 | $19.4M | No change |
| PSNL Personalis Inc. | 0.39% | 3,000,000 | $19.1M | New |
| JANX Janux Therapeutics Inc. | 0.34% | 1,187,290 | $16.5M | Add +1225.3% |
| PMN Promis Neurosciences Inc. | 0.22% | 835,655 | $10.6M | New |
| CBIO Crescent Biopharma Inc. | 0.17% | 453,686 | $8.3M | No change |
| IVA Inventiva SA - ADR | 0.14% | 1,222,453 | $6.8M | Add +149.5% |
| LRMR Larimar Therapeutics Inc. | 0.14% | 1,500,000 | $6.8M | New |
| HELP Cybin Inc. | 0.13% | 1,313,137 | $6.3M | Reduce -29.2% |
| BLLN Billiontoone Inc. Class A | 0.08% | 50,000 | $3.9M | No change |
| ALGS Aligos Therapeutics Inc. | 0.07% | 444,110 | $3.3M | No change |
Options reported separately and not counted above: XBI puts ($1.3B).
Portfolio Sells Q4 2025 → Q1 2026
| DVAX Dynavax Technologies Corp. | Sold out | 0.00% | −5.52 |
| CYTK Cytokinetics Inc. | Reduce -58.8% | 1.87% | −2.97 |
| MAZE Maze Therapeutics Inc. | Reduce -18.1% | 2.14% | −1.87 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -50.0% | 1.34% | −1.78 |
| VRDN Viridian Therapeutics Inc. | Reduce -44.8% | 0.56% | −1.23 |
| NRIX Nurix Therapeutics Inc. | Reduce -9.8% | 2.03% | −1.02 |
| AXSM Axsome Therapeutics Inc. | Reduce -4.3% | 3.84% | −0.95 |
| APLS Apellis Pharmaceuticals Inc. | Reduce -41.5% | 3.76% | −0.68 |
| MBX MBX Biosciences Inc. | Reduce -15.2% | 1.70% | −0.64 |
| DYN Dyne Therapeutics Inc. | Reduce -24.5% | 0.75% | −0.43 |
| IMCR Immunocore Holdings PLC-ADR | Reduce -3.6% | 1.20% | −0.38 |
| XENE Xenon Pharmaceuticals Inc. | Sold out | 0.00% | −0.37 |
| CLDX Celldex Therapeutics Inc. | Reduce -32.5% | 0.84% | −0.34 |
| HELP Cybin Inc. | Reduce -29.2% | 0.13% | −0.22 |
| MNPR Monopar Therapeutics Inc. | Sold out | 0.00% | −0.14 |
| RAPT Rapt Therapeutics Inc. | Sold out | 0.00% | −0.09 |
| GERN Geron Corp. | Reduce -2.4% | 0.98% | −0.00 |
| ANL Adlai Nortye Group Ltd. | Sold out | 0.00% | −0.00 |
| ORKA Oruka Therapeutics Inc. | Reduce -5.9% | 2.06% | +0.56 |
Portfolio Buys Q4 2025 → Q1 2026
| ALMS Alumis Inc. | New | 3.08% | +3.08 |
| NUVL Nuvalent Inc. Class A | New | 2.91% | +2.91 |
| GMAB Genmab A/S -SP ADR | New | 2.03% | +2.03 |
| CNTA Centessa Pharmaceuticals Ltd. | Add +57.9% | 2.59% | +1.45 |
| ALKS Alkermes PLC | Add +79.5% | 2.62% | +1.34 |
| OCUL Ocular Therapeutix Inc. | Add +143.9% | 3.44% | +1.21 |
| MLTX Moonlake Immunotherapeutics | Add +39.0% | 2.46% | +1.08 |
| PCVX Vaxcyte Inc. | Add +7.5% | 5.16% | +0.95 |
| CRVS Corvus Pharmaceuticals Inc. | New | 0.75% | +0.75 |
| ACRS Aclaris Therapeutics Inc. | New | 0.72% | +0.72 |
| TNGX Tango Therapeutics Inc. | Add +12.0% | 1.19% | +0.69 |
| BCAX Bicara Therapeutics Inc. | Add +55.4% | 1.67% | +0.66 |
| DFTX Definium Therapeutics Inc. | Add +78.9% | 1.17% | +0.66 |
| MANE Veradermics Inc. | New | 0.65% | +0.65 |
| SLDB Solid Biosciences Inc. | New | 0.53% | +0.53 |
| APGE Apogee Therapeutics Inc. | New | 0.49% | +0.49 |
| TERN Terns Pharmaceuticals Inc. | Add +39.6% | 1.17% | +0.46 |
| KURA Kura Oncology Inc. | New | 0.44% | +0.44 |
| IPSC Century Therapeutics Inc. | New | 0.44% | +0.44 |
| ATAI Ataibeckley Inc. | Add +156.6% | 0.88% | +0.44 |
| COGT Cogent Biosciences Inc. | Add +120.7% | 0.79% | +0.43 |
| BEAM Beam Therapeutics Inc. | New | 0.40% | +0.40 |
| PSNL Personalis Inc. | New | 0.39% | +0.39 |
| JANX Janux Therapeutics Inc. | Add +1225.3% | 0.34% | +0.31 |
| CMPS Compass Pathways PLC | Add +65.8% | 1.39% | +0.23 |
| PMN Promis Neurosciences Inc. | New | 0.22% | +0.22 |
| VERA Vera Therapeutics Inc. | Add +45.5% | 3.41% | +0.15 |
| LRMR Larimar Therapeutics Inc. | New | 0.14% | +0.14 |
| ANIP Ani Pharmaceuticals Inc. | Add +25.6% | 0.95% | +0.09 |
| IVA Inventiva SA - ADR | Add +149.5% | 0.14% | +0.09 |
| XFOR X4 Pharmaceuticals Inc. | Add +26.4% | 0.54% | +0.08 |
| IONS Ionis Pharmaceuticals Inc. | Add +14.7% | 3.02% | −0.05 |
| BBIO Bridgebio Pharma Inc. | Add +3.9% | 1.29% | −0.12 |
| GRAL Grail Inc. | Add +68.4% | 1.84% | −0.16 |
| GH Guardant Health Inc. | Add +19.2% | 6.36% | −0.16 |
| SLNO Soleno Therapeutics Inc. | Add +7.9% | 0.75% | −0.31 |
| TARS Tarsus Pharmaceuticals Inc. | Add +19.8% | 5.21% | −0.40 |
| CRMD Cormedix Inc. | Add +19.0% | 0.88% | −0.52 |
| GPCR Structure Therapeutics Inc. | Add +4.1% | 4.26% | −2.27 |
Options Activity Q4 2025 → Q1 2026
| BHVN Biohaven Ltd. | call | Sold out | 500,000 | $5.6Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 66 | $6.8B | GH, IMVT, GPCR, PCVX, ALNY |
| Q1 2026 | 62 | $4.8B | GH, IMVT, TARS, PCVX, GPCR |
| Q4 2025 | 53 | $4.4B | IMVT, GH, GPCR, TARS, DVAX |
| Q3 2025 | 56 | $3.6B | GH, IONS, CYTK, AKRO, APLS |
| Q2 2025 | 65 | $3.1B | GH, IONS, PTGX, DVAX, INSM |
| Q1 2025 | 69 | $3.1B | ITCI, GH, DVAX, IMVT, PTGX |
| Q4 2024 | 61 | $2.7B | DVAX, GH, ITCI, IMVT, APLS |
| Q3 2024 | 69 | $3.1B | ARGX, DVAX, GH, APLS, IMVT |
| Q2 2024 | 67 | $3.3B | AMGN, ARGX, AXSM, DYN, SWTX |
| Q1 2024 | 65 | $3.5B | SWTX, AMGN, APGE, INSM, DYN |