Deep Track Capital Portfolio
13F Holdings & Position Changes — Last filed Feb 13, 2026
13F Holdings & Position Changes — Last filed Feb 13, 2026
Deep Track Capital is a $3B biotech-focused hedge fund managed by David Bhatt, MD. As of their latest 13F filing (Q4 2025), the fund holds 51 positions worth $4.3B. This quarter they initiated 51 new positions. Their largest holding is IMVT ($293.0M).
Deep initiated 51 new positions this quarter. 129 upcoming catalysts across holdings. 1 insider buy detected in portfolio companies.
Showing first tracked quarter (Dec 31, 2025) — historical comparison will be available after the next 13F filing cycle.
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Deep Track Capital holds 51 biotech stocks in their 13F portfolio. Their top positions include IMVT, GH, GPCR, TARS, DVAX. The full holdings table is available on BiotechEdge with position sizes, quarter-over-quarter changes, and AI analysis.
Deep Track Capital's tracked biotech portfolio is worth $4.3B across 51 positions, with total assets under management of approximately $3B. Portfolio values are based on 13F filings with the SEC.
Deep Track Capital initiated 51 new positions this quarter, including IMVT, GH, GPCR, TARS, DVAX and 46 more. They also increased 0 existing positions.
Deep Track Capital did not fully exit any positions this quarter.
Pure-play biotech hedge fund with a concentrated portfolio focused on clinical-stage companies with upcoming binary catalysts. Combines deep scientific analysis with event-driven positioning.
| 3 |
| GPCR |
| New |
| 4,111,782 |
| $286.0M |
| 4 | TARS | New | 3,004,034 | $246.0M |
| 5 | DVAX | New | 15,726,349 | $241.9M |
| 6 | CYTK | New | 3,336,998 | $212.0M |
| 7 | AXSM | New | 1,150,000 | $210.0M |
| 8 | APLS | New | 7,750,000 | $194.7M |
| 9 | PCVX | New | 4,000,000 | $184.6M |
| 10 | MAZE | New | 4,246,440 | $175.9M |
| 11 | VERA | New | 2,821,135 | $142.9M |
| 12 | BMRN | New | 2,300,000 | $136.7M |
| 13 | IONS | New | 1,700,000 | $134.5M |
| 14 | NRIX | New | 7,036,455 | $133.5M |
| 15 | MBX | New | 3,249,790 | $102.5M |
| 16 | OCUL | New | 8,070,414 | $98.0M |
| 17 | GRAL | New | 1,022,797 | $87.5M |
| 18 | LBRX | New | 3,352,804 | $74.6M |
| 19 | IMCR | New | 2,003,978 | $69.6M |
| 20 | ORKA | New | 2,161,510 | $65.5M |
| 21 | BBIO | New | 810,142 | $62.0M |
| 22 | CRMD | New | 5,274,076 | $61.3M |
| 23 | MLTX | New | 4,610,071 | $60.8M |
| 24 | ALKS | New | 2,000,000 | $56.0M |
| 25 | DYN | New | 2,650,000 | $51.8M |
| 26 | CLDX | New | 1,900,738 | $51.6M |
| 27 | CMPS | New | 7,334,323 | $50.6M |
| 28 | CNTA | New | 2,000,000 | $50.0M |
| 29 | SLNO | New | 1,000,000 | $46.3M |
| 30 | VSTM | New | 5,740,850 | $44.3M |
| 31 | BCAX | New | 2,614,004 | $44.0M |
| 32 | GERN | New | 32,511,271 | $42.9M |
| 33 | ENGNW | New | 4,377,572 | $39.5M |
| 34 | ANIP | New | 477,684 | $37.7M |
| 35 | TERN | New | 769,048 | $31.1M |
| 36 | ENTA | New | 1,956,867 | $30.9M |
| 37 | MNMD | New | 1,676,540 | $22.4M |
| 38 | TNGX | New | 2,454,562 | $21.7M |
| 39 | XFOR | New | 5,013,661 | $20.1M |
| 40 | ATAI | New | 4,677,289 | $19.1M |
| 41 | XENE | New | 366,435 | $16.4M |
| 42 | COGT | New | 453,102 | $16.1M |
| 43 | HELP | New | 1,854,255 | $15.2M |
| 44 | CNTX | New | 7,419,355 | $10.9M |
| 45 | MNPR | New | 95,408 | $6.2M |
| 46 | CBIO | New | 453,686 | $5.4M |
| 47 | ALGS | New | 444,110 | $4.1M |
| 48 | BLLN | New | 50,000 | $4.1M |
| 49 | IVEVF | New | 490,000 | $2.3M |
| 50 | JANX | New | 89,589 | $1.2M |
| 51 | ANL | New | 34,852 | $49K |