Deep Track Capital, LP 13F: Quarter-over-Quarter Portfolio Changes
Deep Track Capital, LP reported a disclosed portfolio value of approximately $6.8 billion in its latest SEC Form 13F-HR filing for Q2 2026, up 40.1% quarter on quarter. Over the quarter, the fund initiated 18 new positions, bought more shares in 22 holdings, trimmed 15 holdings, and exited 14 positions.
Deep Track Capital, LP's top buy was a new stake in Alnylam Pharmaceuticals INC (ALNY) , equal to 3.7% of the disclosed portfolio. Its top sell was Apellis Pharmaceuticals INC (APLS) . The fund exited the position completely after it had accounted for 3.8% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| ALNYLAM PHARMACEUTICALS INC | ALNY | 3.7% | History → |
| HEMAB THERAPEUTICS HLDGS INC | COAG | 1.9% | Holders → |
| GH RESEARCH PLC | GHRS | 1.3% | Holders → |
| UNITED THERAPEUTICS CORP DEL | UTHR | 1.0% | Holders → |
| AVALO THERAPEUTICS INC | AVTX | 1.0% | Holders → |
| ALTIMMUNE INC | ALT | 0.9% | Holders → |
| GENEDX HOLDINGS CORP | WGS | 0.7% | Holders → |
| HARROW INC | HROW | 0.6% | Holders → |
| IMMIX BIOPHARMA INC | IMMX | 0.4% | Holders → |
| SHATTUCK LABS INC | STTK | 0.4% | Holders → |
| MANNKIND CORP | MNKD | 0.4% | Holders → |
| GENERATE BIOMEDICINES INC | GENB | 0.3% | Holders → |
| NEKTAR THERAPEUTICS | NKTR | 0.3% | Holders → |
| OLEMA PHARMACEUTICALS INC | OLMA | 0.3% | Holders → |
| KAILERA THERAPEUTICS INC | KLRA | 0.2% | Holders → |
| KARDIGAN INC | KARD | 0.2% | Holders → |
| ENLIVEN THERAPEUTICS INC | ELVN | 0.2% | Holders → |
| XENCOR INC | XNCR | 0.1% | Holders → |
Top BuysQ2 2026
Showing the top 10 buys among 22 existing positions where the fund bought more shares in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| VERADERMICS INC | MANE | +3.0% | +300.0% | History → |
| BIOMARIN PHARMACEUTICAL INC | BMRN | +1.4% | +187.6% | Holders → |
| VIRIDIAN THERAPEUTICS INC | VRDN | +0.4% | +157.7% | Holders → |
| CELLDEX THERAPEUTICS INC NEW | CLDX | +0.8% | +128.9% | Holders → |
| COGENT BIOSCIENCES INC | COGT | +0.3% | +100.0% | Holders → |
| GENMAB A/S | GMAB | +0.3% | +54.2% | Holders → |
| TANGO THERAPEUTICS INC | TNGX | +0.7% | +52.7% | Holders → |
| PERSONALIS INC | PSNL | +0.4% | +33.3% | Holders → |
| NUVALENT INC | NUVL | +0.3% | +29.6% | History → |
| NURIX THERAPEUTICS INC | NRIX | +0.7% | +21.9% | Holders → |
Top SellsQ2 2026
Showing the top 10 sells among 15 existing positions where the fund sold shares in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| IMMUNOCORE HLDGS PLC | IMCR | -1.1% | 83.9% | Holders → |
| CYTOKINETICS INC | CYTK | -1.0% | 49.1% | Holders → |
| MBX BIOSCIENCES INC | MBX | -0.3% | 37.2% | Holders → |
| AXSOME THERAPEUTICS INC. | AXSM | -1.3% | 36.4% | Holders → |
| INVENTIVA SA | IVA | -0.1% | 34.6% | Holders → |
| ENANTA PHARMACEUTICALS INC | ENTA | -0.2% | 26.2% | Holders → |
| KURA ONCOLOGY INC | KURA | -0.1% | 25.2% | Holders → |
| DYNE THERAPEUTICS INC | DYN | -0.3% | 25.0% | Holders → |
| IMMUNOVANT INC | IMVT | -0.6% | 19.0% | History → |
| DEFINIUM THERAPEUTICS INC | DFTX | 0.7% | 8.3% | Holders → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| APELLIS PHARMACEUTICALS INC | APLS | 3.8% |
| CENTESSA PHARMACEUTICALS PLC | CNTA | 2.6% |
| BRIDGEBIO PHARMA INC | BBIO | 1.3% |
| TERNS PHARMACEUTICALS INC | TERN | 1.2% |
| GERON CORP | GERN | 1.0% |
| ANI PHARMACEUTICALS INC | ANIP | 1.0% |
| SOLENO THERAPEUTICS INC | SLNO | 0.7% |
| ENGENE THERAPEUTICS INC | SYN_29286M105 | 0.6% |
| APOGEE THERAPEUTICS INC | APGE | 0.5% |
| JANUX THERAPEUTICS INC | JANX | 0.3% |
| CRESCENT BIOPHARMA INC. | CBIO | 0.2% |
| LARIMAR THERAPEUTICS INC | LRMR | 0.1% |
| CYBIN INC | HELP | 0.1% |
| BILLIONTOONE INC CL A | BLLN | 0.1% |
Net Portfolio Value ChangeQ2 2026
- $4.8BPrior quarter
- $6.8BCurrent quarter
- +$1.9BNet delta
- +40.1%% change
Methodology & FAQ
How Deep Track Capital, LP Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Deep Track Capital, LP: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did Deep Track Capital, LP buy in Q2 2026?
In Q2 2026, Deep Track Capital, LP initiated 18 new positions (ALNYLAM PHARMACEUTICALS INC (ALNY), HEMAB THERAPEUTICS HLDGS INC (COAG), GH RESEARCH PLC (GHRS), UNITED THERAPEUTICS CORP DEL (UTHR), AVALO THERAPEUTICS INC (AVTX), ALTIMMUNE INC (ALT), GENEDX HOLDINGS CORP (WGS), HARROW INC (HROW), IMMIX BIOPHARMA INC (IMMX), SHATTUCK LABS INC (STTK), MANNKIND CORP (MNKD), GENERATE BIOMEDICINES INC (GENB), NEKTAR THERAPEUTICS (NKTR), OLEMA PHARMACEUTICALS INC (OLMA), KAILERA THERAPEUTICS INC (KLRA), KARDIGAN INC (KARD), ENLIVEN THERAPEUTICS INC (ELVN), XENCOR INC (XNCR)); bought more shares of VERADERMICS INC (MANE), BIOMARIN PHARMACEUTICAL INC (BMRN), VIRIDIAN THERAPEUTICS INC (VRDN), CELLDEX THERAPEUTICS INC NEW (CLDX), COGENT BIOSCIENCES INC (COGT) (the largest 5 of 22 adds).
What stocks did Deep Track Capital, LP sell in Q2 2026?
In Q2 2026, Deep Track Capital, LP fully sold 14 positions (APELLIS PHARMACEUTICALS INC (APLS), CENTESSA PHARMACEUTICALS PLC (CNTA), BRIDGEBIO PHARMA INC (BBIO), TERNS PHARMACEUTICALS INC (TERN), GERON CORP (GERN), ANI PHARMACEUTICALS INC (ANIP), SOLENO THERAPEUTICS INC (SLNO), ENGENE THERAPEUTICS INC (SYN_29286M105), APOGEE THERAPEUTICS INC (APGE), JANUX THERAPEUTICS INC (JANX), CRESCENT BIOPHARMA INC. (CBIO), LARIMAR THERAPEUTICS INC (LRMR), CYBIN INC (HELP), BILLIONTOONE INC CL A (BLLN)); reduced holdings in IMMUNOCORE HLDGS PLC (IMCR), CYTOKINETICS INC (CYTK), MBX BIOSCIENCES INC (MBX), AXSOME THERAPEUTICS INC. (AXSM), INVENTIVA SA (IVA) (the largest 5 of 15 reductions).
Which positions did Deep Track Capital, LP initiate in Q2 2026?
Deep Track Capital, LP established 18 new positions in Q2 2026: ALNYLAM PHARMACEUTICALS INC (ALNY, 3.7%), HEMAB THERAPEUTICS HLDGS INC (COAG, 1.9%), GH RESEARCH PLC (GHRS, 1.3%), UNITED THERAPEUTICS CORP DEL (UTHR, 1.0%), AVALO THERAPEUTICS INC (AVTX, 1.0%), ALTIMMUNE INC (ALT, 0.9%), GENEDX HOLDINGS CORP (WGS, 0.7%), HARROW INC (HROW, 0.6%), IMMIX BIOPHARMA INC (IMMX, 0.4%), SHATTUCK LABS INC (STTK, 0.4%), MANNKIND CORP (MNKD, 0.4%), GENERATE BIOMEDICINES INC (GENB, 0.3%), NEKTAR THERAPEUTICS (NKTR, 0.3%), OLEMA PHARMACEUTICALS INC (OLMA, 0.3%), KAILERA THERAPEUTICS INC (KLRA, 0.2%), KARDIGAN INC (KARD, 0.2%), ENLIVEN THERAPEUTICS INC (ELVN, 0.2%), XENCOR INC (XNCR, 0.1%).
Which existing positions saw the largest allocation increases for Deep Track Capital, LP in Q2 2026?
Of 22 existing positions with share-count increases in Q2 2026, the largest were: VERADERMICS INC (MANE, +3.0% weight, +300.0% shares), BIOMARIN PHARMACEUTICAL INC (BMRN, +1.4% weight, +187.6% shares), VIRIDIAN THERAPEUTICS INC (VRDN, +0.4% weight, +157.7% shares), CELLDEX THERAPEUTICS INC NEW (CLDX, +0.8% weight, +128.9% shares), COGENT BIOSCIENCES INC (COGT, +0.3% weight, +100.0% shares), GENMAB A/S (GMAB, +0.3% weight, +54.2% shares), TANGO THERAPEUTICS INC (TNGX, +0.7% weight, +52.7% shares), PERSONALIS INC (PSNL, +0.4% weight, +33.3% shares), NUVALENT INC (NUVL, +0.3% weight, +29.6% shares), NURIX THERAPEUTICS INC (NRIX, +0.7% weight, +21.9% shares).
Which positions did Deep Track Capital, LP fully exit in Q2 2026?
Deep Track Capital, LP fully exited 14 positions in Q2 2026: APELLIS PHARMACEUTICALS INC (APLS, last-reported weight 3.8%), CENTESSA PHARMACEUTICALS PLC (CNTA, last-reported weight 2.6%), BRIDGEBIO PHARMA INC (BBIO, last-reported weight 1.3%), TERNS PHARMACEUTICALS INC (TERN, last-reported weight 1.2%), GERON CORP (GERN, last-reported weight 1.0%), ANI PHARMACEUTICALS INC (ANIP, last-reported weight 1.0%), SOLENO THERAPEUTICS INC (SLNO, last-reported weight 0.7%), ENGENE THERAPEUTICS INC (SYN_29286M105, last-reported weight 0.6%), APOGEE THERAPEUTICS INC (APGE, last-reported weight 0.5%), JANUX THERAPEUTICS INC (JANX, last-reported weight 0.3%), CRESCENT BIOPHARMA INC. (CBIO, last-reported weight 0.2%), LARIMAR THERAPEUTICS INC (LRMR, last-reported weight 0.1%), CYBIN INC (HELP, last-reported weight 0.1%), BILLIONTOONE INC CL A (BLLN, last-reported weight 0.1%).
Which existing positions saw the largest allocation reductions for Deep Track Capital, LP in Q2 2026?
Of 15 existing positions with share-count reductions in Q2 2026, the largest were: IMMUNOCORE HLDGS PLC (IMCR, -1.1% weight, -83.9% shares), CYTOKINETICS INC (CYTK, -1.0% weight, -49.1% shares), MBX BIOSCIENCES INC (MBX, -0.3% weight, -37.2% shares), AXSOME THERAPEUTICS INC. (AXSM, -1.3% weight, -36.4% shares), INVENTIVA SA (IVA, -0.1% weight, -34.6% shares), ENANTA PHARMACEUTICALS INC (ENTA, -0.2% weight, -26.2% shares), KURA ONCOLOGY INC (KURA, -0.1% weight, -25.2% shares), DYNE THERAPEUTICS INC (DYN, -0.3% weight, -25.0% shares), IMMUNOVANT INC (IMVT, -0.6% weight, -19.0% shares), DEFINIUM THERAPEUTICS INC (DFTX, 0.7% weight, -8.3% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.