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Deep Track Capital Portfolio holdings
AUM
$6.87B
Turnover
41.46%
1-Year Est. Return
205.24%
Deep Track Capital manages private funds that invest in life sciences, from biotechnology to medical devices, mostly through publicly traded stocks bought and sold short. David Kroin, its founder and chief investment officer, controls the firm, which was formed in 2020. The firm looks for gaps in how biotech development companies fare, pointing to the all-or-nothing results of clinical trials and regulatory decisions.
This Fund
S&P 500
This Quarter Est. Return
+35.9%
1 Year Est. Return
+205.24%
3 Year Est. Return
+440.18%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$6.87B
AUM Growth
+$747M
(+12%)
Cap. Flow
+$514M
Cap. Flow % of AUM
Cap. Flow %
7.48%
Top 10 Holdings %
Top 10 Hldgs %
39.61%
Holding
82
New
19
Increased
22
Reduced
15
Closed
15
Avg Time Held
Equity + Options
0.9
years
Top 10 Avg Time Held
Equity + Options
0.7
years
Top 20 Avg Time Held
Equity + Options
0.8
years
Avg Time Held Equity only
0.9
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alnylam Pharmaceuticals
ALNY
|
+$249M |
| 2 |
Veradermics Inc
MANE
|
+$141M |
| 3 |
BioMarin Pharmaceuticals
BMRN
|
+$118M |
| 4 |
Hemab Therapeutics
COAG
|
+$99.4M |
| 5 |
United Therapeutics
UTHR
|
+$69.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apellis Pharmaceuticals
APLS
|
+$182M |
| 2 |
CNTA
Centessa Pharmaceuticals
CNTA
|
+$125M |
| 3 |
Axsome Therapeutics
AXSM
|
+$86.7M |
| 4 |
Immunovant
IMVT
|
+$66.6M |
| 5 |
BridgeBio Pharma
BBIO
|
+$62.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 98.8% |
| 2 | Miscellaneous | 1.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Maze Therapeutics
MAZE
$1.75B
| $111M | 1.62% |
3,732,569
+255,007
| +7% | +$6.68M |
2025 Q1
5 quarters
|
|
27
Celldex Therapeutics
CLDX
$2.36B
| $109M | 1.59% |
2,939,151
+1,655,172
| +129% | +$53.5M |
2024 Q4
6 quarters
|
|
28
LB Pharmaceuticals
LBRX
$1.28B
| $109M | 1.58% |
3,352,804
| – | – |
2025 Q3
3 quarters
|
|
29
MBX Biosciences
MBX
$2.69B
| $95.6M | 1.39% |
1,732,569
-1,025,000
| -37% | -$35.8M |
2024 Q3
7 quarters
|
|
30
GH Research
GHRS
$1.43B
| $89.6M | 1.3% |
+3,333,334
| New | +$69.6M |
2026 Q2
0 quarters
|
|
31
CALL
Genmab
GMAB
$35.1B
| $82.4M | 1.2% |
+3,000,000
| New | +$79.7M |
2026 Q2
0 quarters
|
|
32
Cogent Biosciences
COGT
$5.38B
| $77.4M | 1.13% |
2,000,000
+1,000,000
| +100% | +$35M |
2025 Q4
2 quarters
|
|
33
DELISTED
AtaiBeckley Inc
ATAI
| $76M | 1.11% |
14,417,442
+2,417,442
| +20% | +$10.2M |
2025 Q4
2 quarters
|
|
|
34
United Therapeutics
UTHR
$25.7B
| $67M | 0.97% |
+123,616
| New | +$69.6M |
2026 Q2
0 quarters
|
|
35
Avalo Therapeutics
AVTX
$385M
| $66.7M | 0.97% |
+3,610,000
| New | +$57.1M |
2026 Q2
0 quarters
|
|
36
Viridian Therapeutics
VRDN
$2.79B
| $66M | 0.96% |
3,592,740
+2,198,796
| +158% | +$35.4M |
2021 Q4
18 quarters
|
|
37
Cytokinetics
CYTK
$8.76B
| $59.6M | 0.87% |
700,000
-674,320
| -49% | -$48.4M |
2024 Q2
8 quarters
|
|
38
Altimmune
ALT
$397M
| $58.5M | 0.85% |
+19,250,000
| New | +$57.5M |
2026 Q2
0 quarters
|
|
39
Personalis
PSNL
$1.69B
| $53.6M | 0.78% |
4,000,000
+1,000,000
| +33% | +$8.14M |
2026 Q1
1 quarter
|
|
40
Aclaris Therapeutics
ACRS
$615M
| $49.4M | 0.72% |
9,345,000
| – | – |
2026 Q1
1 quarter
|
|
41
CorMedix
CRMD
$444M
| $49.3M | 0.72% |
6,274,076
| – | – |
2025 Q3
3 quarters
|
|
42
GeneDx Holdings
WGS
$2.06B
| $48.1M | 0.7% |
+700,000
| New | +$39.8M |
2026 Q2
0 quarters
|
|
43
Harrow
HROW
$1.06B
| $41.2M | 0.6% |
+969,000
| New | +$36M |
2026 Q2
0 quarters
|
|
44
Corvus Pharmaceuticals
CRVS
$844M
| $37.2M | 0.54% |
2,491,939
+400
| +0% | +$5.55K |
2026 Q1
1 quarter
|
|
45
Solid Biosciences
SLDB
$665M
| $35.6M | 0.52% |
3,565,062
| – | – |
2026 Q1
1 quarter
|
|
46
Beam Therapeutics
BEAM
$2.81B
| $34.3M | 0.5% |
1,000,000
+179,235
| +22% | +$5.41M |
2026 Q1
1 quarter
|
|
47
Dyne Therapeutics
DYN
$3.12B
| $33.3M | 0.48% |
1,500,000
-500,000
| -25% | -$9.3M |
2025 Q3
3 quarters
|
|
48
Immix Biopharma
IMMX
$637M
| $28.6M | 0.42% |
+2,775,000
| New | +$25.7M |
2026 Q2
0 quarters
|
|
49
X4 Pharmaceuticals
XFOR
$332M
| $27.5M | 0.4% |
5,878,757
-460,778
| -7% | -$1.89M |
2025 Q3
3 quarters
|
|
50
Shattuck Labs
STTK
$558M
| $25.7M | 0.37% |
+3,706,734
| New | +$23.1M |
2026 Q2
0 quarters
|
|
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Deep Track Capital's Q2 2026 Portfolio in Review
As of Q2 2026, Deep Track Capital held 82 positions worth $6.87B, up 12% from $6.12B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
Deep Track Capital deployed $514M of net new capital in Q2 2026, opening 19 new positions and adding to 22 existing holdings. Its largest new stake was Alnylam Pharmaceuticals: 825,000 shares worth $248M.
By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 79% a quarter earlier, followed by Miscellaneous.
On the sell side, the largest reduction was Axsome Therapeutics, an estimated $86.7M trimmed.
- Deep Track Capital's largest Q2 2026 buy was Alnylam Pharmaceuticals: 825,000 shares worth $248M.
- Deep Track Capital added most to Veradermics Inc in Q2 2026, an estimated $141M increase.
- Deep Track Capital's biggest Q2 2026 reduction was Axsome Therapeutics, cutting an estimated $86.7M.
- Deep Track Capital fully exited Apellis Pharmaceuticals in Q2 2026, selling an estimated $182M.
- Deep Track Capital's ten largest holdings make up 40% of its $6.87B portfolio in Q2 2026.
- Deep Track Capital opened 19 new positions and closed 15 in Q2 2026.
- Deep Track Capital's portfolio value rose 12% quarter-over-quarter to $6.87B.
Based on Deep Track Capital's 13F filing for Q2 2026, filed 14 Aug 2026.