SEC 13F Intelligence

Managers / Q2 2025 · view latest →

Deep Track Capital, LP

CIK 0001856083 · 200 GREENWICH AVENUE, 3RD FLOOR, GREENWICH, CT, 06830 · 2034090812

Reported Value
$3.1B
Q2 2025
Positions
66
Filings on Record
19
2019–present window
Filed
Aug 14, 2025
original filing

Summary

Deep Track Capital, LP reported $3.1B in U.S.-listed holdings across 66 positions for Q2 2025.

Its largest position, GH, represents 7.1% of the portfolio.

Compared with Q1 2025, the fund opened 7 new positions and exited 11.

Portfolio Metrics

Turnover
+20.9%
vs prior filed quarter
Top-10 Concentration
+52.4%
share of reported value
Largest Position
+7.1%
Guardant Health
New / Exited
7 / 11
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’21: $1.4BQ4 ’21Q1 ’22: $1.6BQ2 ’22: $1.5BQ3 ’22: $2.2BQ3 ’22Q4 ’22: $2.4BQ1 ’23: $2.4BQ2 ’23: $2.2BQ2 ’23Q3 ’23: $2.6BQ4 ’23: $3.0BQ1 ’24: $3.5BQ1 ’24Q2 ’24: $3.4BQ3 ’24: $3.2BQ4 ’24: $2.7BQ4 ’24Q1 ’25: $3.1BQ2 ’25: $3.1BQ3 ’25: $3.6BQ3 ’25Q4 ’25: $5.6BQ1 ’26: $6.1Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 88.2%ADR: 8.6%Other: 3.2%
  • Common Stock · 88.2% · $2.8B
  • ADR · 8.6% · $268M
  • Other · 3.2% · $99M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
AXSMAXSOME THERAPEUTICS INCNEW+801.4K801.4K+$84M$84M
JBIOJADE BIOSCIENCES INCNEW+2.51M2.51M+$25M$25M
MERUS N VNEW+275.0K275.0K+$14M$14M
CDTXCIDARA THERAPEUTICS INCNEW+250.0K250.0K+$12M$12M
CRESCENT BIOPHARMA INC.NEW+453.7K453.7K+$7M$7M
260CENTESSA PHARMACEUTICALS PLCNEW+500.0K500.0K+$7M$7M
RAPTRAPT THERAPEUTICS INCNEW+751.4K751.4K+$6M$6M
IM8NINSMED INCADDED+1.50M1.75M+$157M$176M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2025

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GHGUARDANT HEALTH INChistory →COM7.09%$221M4.25M
2ISIIONIS PHARMACEUTICALS INChistory →COM6.20%$193M4.89M
3PTGXPROTAGONIST THERAPEUTICS INChistory →COM5.75%$179M3.25M
4DVAXDYNAVAX TECHNOLOGIES CORPhistory →COM NEW5.66%$176M17.79M
5IM8NINSMED INChistory →COM PAR $.015.65%$176M1.75M
6AKROAKERO THERAPEUTICS INChistory →COM5.21%$162M3.04M
7IMVTIMMUNOVANT INChistory →COM4.87%$152M9.50M
8OCULOCULAR THERAPEUTIX INChistory →COM4.25%$133M14.29M
9APLSUSDAPELLIS PHARMACEUTICALS INChistory →COM3.89%$121M7.00M
10CYTKCYTOKINETICS INChistory →COM NEW3.87%$121M3.65M
11GPCRSTRUCTURE THERAPEUTICS INChistory →SPONSORED ADS3.41%$106M5.13M
12ETNBGBP89BIO INChistory →COM2.99%$93M9.50M
13AXSMAXSOME THERAPEUTICS INChistory →COM2.68%$84M801.4K
14VRDNVIRIDIAN THERAPEUTICS INChistory →COM2.41%$75M5.38M
15TARSTARSUS PHARMACEUTICALS INChistory →COM2.27%$71M1.75M
16PCVXVAXCYTE INChistory →COM2.24%$70M2.15M
17NRIXNURIX THERAPEUTICS INChistory →COM2.22%$69M6.06M
18GONGERON CORPhistory →COM1.94%$61M43.00M
19IMCRIMMUNOCORE HLDGS PLChistory →ADS1.81%$56M1.80M
20RAREULTRAGENYX PHARMACEUTICAL INhistory →COM1.57%$49M1.35M
21MAZEMAZE THERAPEUTICS INChistory →COM1.55%$48M3.95M
22BSFAANI PHARMACEUTICALS INChistory →COM1.46%$46M700.0K
23XENEXENON PHARMACEUTICALS INChistory →COM1.36%$42M1.35M
24DNTHDIANTHUS THERAPEUTICS INChistory →COM1.33%$42M2.23M
25TCE2CELLDEX THERAPEUTICS INC NEWhistory →COM NEW1.31%$41M2.00M
26BBIOBRIDGEBIO PHARMA INChistory →COM1.25%$39M900.0K
27AUTLAUTOLUS THERAPEUTICS PLChistory →SPON ADS1.23%$38M16.85M
28METSERA INCCOM1.00%$31M1.09M
29430TERNS PHARMACEUTICALS INChistory →COM0.90%$28M7.50M
30TECXTECTONIC THERAPEUTIC INChistory →COM0.89%$28M1.40M
31ABVXABIVAX SAhistory →SPONSORED ADS0.85%$27M3.48M
32JBIOJADE BIOSCIENCES INChistory →COM NEW0.80%$25M2.51M
33MBXMBX BIOSCIENCES INChistory →COM0.80%$25M2.19M
34CMPSCOMPASS PATHWAYS PLChistory →SPONSORED ADS0.79%$25M8.83M
35GH RESEARCH PLCORDINARY SHARES0.78%$24M2.00M
36BCAXBICARA THERAPEUTICS INChistory →COM0.72%$23M2.43M
37ORKAORUKA THERAPEUTICS INChistory →COM0.69%$22M1.92M
38ENGENE HOLDINGS INCCOM0.53%$17M4.56M
39BRD1EURMIND MEDICINE MINDMED INChistory →COM NEW0.52%$16M2.50M
40UPBUPSTREAM BIO INChistory →COM0.51%$16M1.44M
41OLMAOLEMA PHARMACEUTICALS INChistory →COM0.47%$15M3.44M
42MERUS N VCOM0.46%$14M275.0K
43HELPCYBIN INChistory →COM NEW0.41%$13M1.53M
44CDTXCIDARA THERAPEUTICS INChistory →COM NEW0.39%$12M250.0K
45BCYCBICYCLE THERAPEUTICS PLCSPONSORED ADS0.27%$8M1.20M
46CRESCENT BIOPHARMA INC.COM0.23%$7M453.7K
47260CENTESSA PHARMACEUTICALS PLCSPONSORED ADS0.21%$7M500.0K
48NVV1NOVAVAX INCCOM NEW0.20%$6M998.5K
49IVVDINVIVYD INCCOM0.20%$6M8.59M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$6.1B63May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$5.6B55Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$3.6B56Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$3.1B66Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$3.1B69May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$2.7B63Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$3.2B71Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$3.4B68Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$3.5B66May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$3.0B60Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$2.6B63Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$2.2B55Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$2.4B58May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$2.4B60Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$2.2B65Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.5B51Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.6B52May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.4B55Feb 14, 202213F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.