CIK: 0001009258
Total reported value
$8.5B
Reporting period: 2026-03-31 · Number of holdings: 82
DEERFIELD MANAGEMENT COMPANY, L.P. disclosed 82 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $8.5B and a quarterly turnover rate of 30.0%.
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Deerfield Management Company, L.p.'s disclosed holdings carry a Herfindahl concentration index of 0.060 — mathematically equivalent to about 17 equally-sized positions, well below its 82 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.00), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 27% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim NUVL
0.0% $32.1M
Trim NBIX
-48.5% -$87.6M
Trim CNC
-8.2% -$71.6M
Trim VERA
-8.3% -$55.8M
Add XENE
+198.1% $69.7M
Add TNGX
+42.7% $61.0M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NUVL | Nuvalent Inc-a | Stock-Other | 20.85% | -1.31% | — | |
| 2 | BKD 3.5 10-15-29 | Brookdale Senior Living | Stock-Other | 5.96% | +0.50% | — | |
| 3 | COGT | Cogent Biosciences INC | Stock-Other | 4.11% | +0.01% | — | |
| 4 | PRAX | Praxis Precision Medicines I | Stock-Other | 3.66% | +0.26% | +6.64% | |
| 5 | VTRS | Viatris INC | Stock-Healthcare | 3.22% | +0.01% | — | |
| 6 | UTHR | United Therapeutics CORP | Stock-Healthcare | 3.20% | +0.55% | +7.28% | |
| 7 | RVMD | Revolution Medicines INC | Stock-Healthcare | 2.64% | — | -20.65% | |
| 8 | MIRM 4 05-01-29 | Mirum Pharmaceuticals | Stock-Other | 2.47% | +0.16% | — | |
| 9 | ARWR 0 01-15-32 | Arrowhead Research CORP | Stock-Healthcare | 2.44% | +2.44% | NEW | |
| 10 | CELC | Celcuity INC | Stock-Other | 2.31% | +0.13% | — | |
| 11 | CNC | Centene CORP | Stock-Healthcare | 2.29% | -1.10% | -8.23% | |
| 12 | LRMR | Larimar Therapeutics INC | Stock-Other | 1.89% | +0.40% | +16.34% | |
| 13 | BKD | Brookdale Senior Living INC | Stock-Other | 1.88% | +0.28% | — | |
| 14 | VERA | Vera Therapeutics INC | Stock-Other | 1.77% | -0.86% | -8.32% | |
| 15 | IONS | Ionis Pharmaceuticals INC | Stock-Healthcare | 1.75% | — | — | |
| 16 | BCRX | Biocryst Pharmaceuticals INC | Stock-Other | 1.69% | +0.26% | +4.86% | |
| 17 | INSP | Inspire Medical Systems INC | Stock-Healthcare | 1.64% | — | +79.51% | |
| 18 | LEGN | Legend Biotech Corp-adr | Stock-Other | 1.64% | — | +29.60% | |
| 19 | AHCO | Adapthealth CORP | Stock-Other | 1.61% | +0.15% | — | |
| 20 | NAMS | NewAmsterdam Pharma Company N.V. | Stock-Other | 1.61% | — | +2.40% | |
| 21 | ACHC | Acadia Healthcare Co INC | Stock-Other | 1.25% | +0.43% | — | |
| 22 | ARWR | Arrowhead Pharmaceuticals In | Stock-Healthcare | 1.16% | -0.39% | -14.17% | |
| 23 | CPRX | Catalyst Pharmaceuticals INC | Stock-Healthcare | 1.15% | -0.31% | -19.70% | |
| 24 | INDV | Indivior Pharmaceuticals INC | Stock-Other | 1.11% | +1.11% | NEW | |
| 25 | XENE | Xenon Pharmaceuticals INC | Stock-Other | 1.11% | +0.80% | +198.09% | |
| 26 | IONS 1.75 06-15-28 | Ionis Pharmaceuticals In | Stock-Healthcare | 1.07% | — | — | |
| 27 | PHVS | Pharvaris N.V. | Stock-Other | 1.04% | — | — | |
| 28 | SNDX | Syndax Pharmaceuticals INC | Stock-Other | 1.04% | +1.04% | NEW | |
| 29 | TNGX | Tango Therapeutics INC | Stock-Other | 1.02% | +0.69% | +42.65% | |
| 30 | ALHC 4.25 11-15-29 | Alignment Healthcare | Stock-Other | 1.01% | — | — | |
| 31 | DNTH | Dianthus Therapeutics INC | Stock-Other | 1.01% | +1.01% | NEW | |
| 32 | PFE | Pfizer INC | Stock-Healthcare | 1.01% | +1.01% | NEW | |
| 33 | NBIX | Neurocrine Biosciences INC | Stock-Healthcare | 0.95% | -1.20% | -48.49% | |
| 34 | DAWNGBX | Day One Biopharmaceuticals I | Stock-Other | 0.94% | +0.50% | — | |
| 35 | SVRA | Savara INC | Stock-Other | 0.87% | — | — | |
| 36 | ZBIO 2.5 04-01-32 | Zenas Biopharma INC | Stock-Other | 0.79% | +0.79% | NEW | |
| 37 | EHABUSD | Enhabit INC | Stock-Other | 0.79% | +0.23% | — | |
| 38 | NEO 0.25 01-15-28 | Neogenomics INC | Stock-Healthcare | 0.79% | — | — | |
| 39 | GMAB | Genmab A/s -sp Adr | Stock-Other | 0.78% | +0.78% | NEW | |
| 40 | BIO | Bio-rad Laboratories-a | Stock-Healthcare | 0.74% | — | — | |
| 41 | LNTH | Lantheus Holdings INC | Stock-Healthcare | 0.74% | — | — | |
| 42 | SPRY | Ars Pharmaceuticals INC | Stock-Other | 0.71% | -0.41% | — | |
| 43 | STOK | Stoke Therapeutics INC | Stock-Other | 0.70% | — | — | |
| 44 | NVST | Envista Holdings CORP | Stock-Healthcare | 0.66% | — | -3.09% | |
| 45 | IDYA | Ideaya Biosciences INC | Stock-Other | 0.60% | -0.35% | -28.94% | |
| 46 | BLTE | Belite Bio INC - Adr | Stock-Other | 0.57% | +0.09% | +30.02% | |
| 47 | BMRN | Biomarin Pharmaceutical INC | Stock-Healthcare | 0.57% | +0.57% | NEW | |
| 48 | KYMR | Kymera Therapeutics INC | Stock-Other | 0.55% | — | — | |
| 49 | CERT | Certara INC | Stock-Other | 0.53% | -0.35% | — | |
| 50 | BBOT | Bridgebio Oncology Therapeut | Stock-Other | 0.52% | -0.26% | — |
Performance for Q3 2026
+14.3%
Performance Last 4 Quarters
+22.6%
Based on 72% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 82 | $8.5B | 30 | |
| 2025-12-31 | 150 | $7.8B | 48 | |
| 2025-09-30 | 152 | $6.6B | 68 | |
| 2025-06-30 | 124 | $5.5B | 0 | |
| 2025-03-31 | 123 | $5.1B | 100 | |
| 2024-12-31 | 106 | $5.3B | 0 | |
| 2024-09-30 | 443 | $6.7B | 0 | |
| 2024-06-30 | 433 | $6.0B | 0 | |
| 2024-03-31 | 367 | $5.7B | 0 | |
| 2023-12-31 | 222 | $5.4B | 0 | |
| 2023-09-30 | 88 | $4.5B | 0 | |
| 2023-06-30 | 101 | $4.7B | 0 | |
| 2023-03-31 | 106 | $4.5B | 0 | |
| 2022-12-31 | 104 | $4.8B | 0 | |
| 2022-09-30 | 132 | $5.0B | 0 | |
| 2022-06-30 | 127 | $4.8B | 0 | |
| 2022-03-31 | 122 | $4.5B | 0 | |
| 2021-12-31 | 127 | $4.8B | 0 | |
| 2021-09-30 | 133 | $5.1B | 0 | |
| 2021-06-30 | 143 | $5.6B | 67 | |
| 2021-03-31 | 133 | $4.8B | 68 | |
| 2020-12-31 | 129 | $5.1B | 72 | |
| 2020-09-30 | 105 | $4.1B | 70 | |
| 2020-06-30 | 93 | $3.4B | 60 | |
| 2020-03-31 | 90 | $3.2B | 61 | |
| 2019-12-31 | 76 | $3.1B | 54 | |
| 2019-09-30 | 95 | $2.5B | 37 | |
| 2019-06-30 | 97 | $2.8B | 52 | |
| 2019-03-31 | 93 | $2.6B | 39 | |
| 2018-12-31 | 99 | $2.5B | 47 | |
| 2018-09-30 | 103 | $2.8B | 56 | |
| 2018-06-30 | 114 | $2.8B | 45 | |
| 2018-03-31 | 118 | $2.9B | 50 | |
| 2017-12-31 | 98 | $2.5B | 47 | 1G5785G2N594653G4617B |
| 2017-09-30 | 91 | $2.2B | 54 | |
| 2017-06-30 | 85 | $1.9B | 59 | |
| 2017-03-31 | 106 | $2.6B | 48 | 105366U2G4617B367072V |
| 2016-12-31 | 102 | $2.4B | 47 | 1G4617B267072V305366U |
| 2016-09-30 | 90 | $2.2B | 50 | |
| 2016-06-30 | 106 | $2.5B | 48 | |
| 2016-03-31 | 105 | $2.3B | 54 | 1G4617B2N59465367072V |
| 2015-12-31 | 109 | $2.5B | 45 | |
| 2015-09-30 | 134 | $2.6B | 52 | |
| 2015-06-30 | 120 | $3.0B | 100 | |
| 2015-03-31 | 123 | $3.1B | 0 | |
| 2014-12-31 | 111 | $2.8B | 70 | 105334D2018490305211J |
| 2014-09-30 | 131 | $2.7B | 54 | |
| 2014-06-30 | 127 | $2.5B | 65 | |
| 2014-03-31 | 124 | $2.4B | 73 | |
| 2013-12-31 | 106 | $1.9B | 64 | |
| 2013-09-30 | 113 | $2.2B | 54 | |
| 2013-06-30 | 114 | $2.1B | 0 |
Deerfield Management Company, L.p.'s most significant position changes for 2026-03-31: New buy: Arrowhead Research CORP (ARWR 0 01-15-32); Sold out: Indivior Pharmaceuticals, Inc. (INDV); New buy: Indivior Pharmaceuticals INC (INDV); New buy: Syndax Pharmaceuticals INC (SNDX); New buy: Dianthus Therapeutics INC (DNTH).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | XENE | Xenon Pharmaceuticals INC | +0.8% | +198.09% | Add |
| 2 | TNGX | Tango Therapeutics INC | +0.7% | +42.65% | Add |
| 3 | UTHR | United Therapeutics CORP | +0.6% | +7.28% | Add |
| 4 | BKD 3.5 10-15-29 | Brookdale Senior Living | +0.5% | — | Unchanged |
| 5 | DAWNGBX | Day One Biopharmaceuticals I | +0.5% | — | Unchanged |
| 6 | ACHC | Acadia Healthcare Co INC | +0.4% | — | Unchanged |
| 7 | LRMR | Larimar Therapeutics INC | +0.4% | +16.34% | Add |
| 8 | BKD | Brookdale Senior Living INC | +0.3% | — | Unchanged |
| 9 | PRAX | Praxis Precision Medicines I | +0.3% | +6.64% | Add |
| 10 | BCRX | Biocryst Pharmaceuticals INC | +0.3% | +4.86% | Add |
| 11 | EHABUSD | Enhabit INC | +0.2% | — | Unchanged |
| 12 | MIRM 4 05-01-29 | Mirum Pharmaceuticals | +0.2% | — | Unchanged |
| 13 | AHCO | Adapthealth CORP | +0.2% | — | Unchanged |
| 14 | CELC | Celcuity INC | +0.1% | — | Unchanged |
| 15 | BLTE | Belite Bio INC - Adr | +0.1% | +30.02% | Add |
| 16 | COGT | Cogent Biosciences INC | 0% | — | Unchanged |
| 17 | VTRS | Viatris INC | 0% | — | Unchanged |
| 18 | EMBC | Embecta CORP | -0.2% | -7.89% | Trim |
| 19 | BBNX | Beta Bionics INC | -0.2% | +41.11% | Add |
| 20 | GPCR | Structure Therapeutics INC | -0.2% | — | Unchanged |
| 21 | BBOT | Bridgebio Oncology Therapeut | -0.3% | — | Unchanged |
| 22 | CPRX | Catalyst Pharmaceuticals INC | -0.3% | -19.70% | Trim |
| 23 | CERT | Certara INC | -0.4% | — | Unchanged |
| 24 | IDYA | Ideaya Biosciences INC | -0.4% | -28.94% | Trim |
| 25 | ARWR | Arrowhead Pharmaceuticals In | -0.4% | -14.17% | Trim |
| 26 | SPRY | Ars Pharmaceuticals INC | -0.4% | — | Unchanged |
| 27 | VERA | Vera Therapeutics INC | -0.9% | -8.32% | Trim |
| 28 | CNC | Centene CORP | -1.1% | -8.23% | Trim |
| 29 | NBIX | Neurocrine Biosciences INC | -1.2% | -48.49% | Trim |
| 30 | NUVL | Nuvalent Inc-a | -1.3% | — | Unchanged |
| 31 | ARWR 0 01-15-32 | Arrowhead Research CORP | — | NEW | New buy |
| 32 | INDV | Indivior Pharmaceuticals, Inc. | — | EXIT | Sold out |
| 33 | INDV | Indivior Pharmaceuticals INC | — | NEW | New buy |
| 34 | SNDX | Syndax Pharmaceuticals INC | — | NEW | New buy |
| 35 | DNTH | Dianthus Therapeutics INC | — | NEW | New buy |
| 36 | PFE | Pfizer INC | — | NEW | New buy |
| 37 | ZBIO 2.5 04-01-32 | Zenas Biopharma INC | — | NEW | New buy |
| 38 | GMAB | Genmab A/s -sp Adr | — | NEW | New buy |
| 39 | BMRN | Biomarin Pharmaceutical INC | — | NEW | New buy |
| 40 | PHR | Phreesia INC | — | EXIT | Sold out |
| 41 | MRNA | Moderna INC | — | EXIT | Sold out |
| 42 | LNTH 2.625 12-15-27 | Lantheus Holdings INC | — | EXIT | Sold out |
| 43 | VTR | Ventas INC | — | EXIT | Sold out |
| 44 | SYRE | Spyre Therapeutics INC | — | EXIT | Sold out |
| 45 | TYRA | Tyra Biosciences INC | — | NEW | New buy |
| 46 | DRUG | Bright Minds Biosciences INC | — | NEW | New buy |
| 47 | EWTX | Edgewise Therapeutics INC | — | EXIT | Sold out |
| 48 | SGP | Spyglass Pharma INC | — | NEW | New buy |
| 49 | CRMD | Cormedix INC | — | EXIT | Sold out |
| 50 | MDLN | Medline Inc-cl A | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-12-30 | Amendment | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-08-14 | Amendment | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-17 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-14 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-14 | 13F-HR | View on EDGAR |
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