DM
Deerfield Management Company, L.p. Institutional Portfolio & 13F Holdings (Q2 2026)
Deerfield Management Company, L.p.CIK: 0001009258
Diversified strategySector-focusedMomentum follower
Total reported value
$9.6B
Reporting period: 2026-06-30 · Number of holdings: 82
DEERFIELD MANAGEMENT COMPANY, L.P. disclosed 82 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $9.6B and a quarterly turnover rate of 37.6%.
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Personality snowflake
- Concentration
- 26.59
- Portfolio Stability
- 37.57
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 78.77
Deerfield Management Company, L.p.'s disclosed holdings carry a Herfindahl concentration index of 0.066 — mathematically equivalent to about 15 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 2.12), 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 26% 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy 76155XAA8
Sold out MIRM 4 05-01-29
Trim COGT
-44.6% -$154.4M
Add RVMD
+4.1% $224.6M
Add NUVL
0.0% $363.1M
Add GMAB
+178.8% $122.5M
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NUVL | Nuvalent Inc-a | Stock-Other | 22.22% | +1.37% | — | |
| 2 | BKD 3.5 10-15-29Bond | Brookdale Senior Living | Bond | 6.11% | +0.15% | — | |
| 3 | RVMD | Revolution Medicines Inc | Stock-Healthcare | 4.67% | +2.03% | +4.14% | |
| 4 | PRAX | Praxis Precision Medicines I | Stock-Other | 3.36% | -0.30% | — | |
| 5 | VTRS | Viatris Inc | Stock-Healthcare | 3.35% | +0.13% | — | |
| 6 | CNC | Centene CORP | Stock-Healthcare | 3.28% | +0.99% | -17.17% | |
| 7 | ✓ | Stock-Other | 2.63% | +2.63% | NEW | ||
| 8 | UTHR | United Therapeutics CORP | Stock-Healthcare | 2.58% | -0.62% | — | |
| 9 | ARWR 0 01-15-32Bond | Arrowhead Research CORP | Bond | 2.51% | +0.07% | — | |
| 10 | LEGN | Legend Biotech Corp-adr | Stock-Other | 2.45% | +0.81% | +5.85% | |
| 11 | COGT | Cogent Biosciences Inc | Stock-Other | 2.02% | -2.09% | -44.65% | |
| 12 | GMAB | Genmab A/s -sp Adr | Stock-Other | 1.97% | +1.19% | +178.84% | |
| 13 | BKD | Brookdale Senior Living Inc | Stock-Other | 1.95% | +0.07% | — | |
| 14 | VERA | Vera Therapeutics Inc | Stock-Other | 1.75% | -0.02% | +5.22% | |
| 15 | IONS | Ionis Pharmaceuticals Inc | Stock-Healthcare | 1.64% | -0.11% | — | |
| 16 | CELC | Celcuity Inc | Stock-Other | 1.58% | -0.73% | -15.34% | |
| 17 | BCRX | Biocryst Pharmaceuticals Inc | Stock-Other | 1.57% | -0.12% | +0.39% | |
| 18 | NAMS | NewAmsterdam Pharma Company N.V. | Stock-Other | 1.51% | -0.10% | — | |
| 19 | ACHC | Acadia Healthcare Co Inc | Stock-Other | 1.39% | +0.14% | — | |
| 20 | TNGX | Tango Therapeutics Inc | Stock-Other | 1.37% | +0.35% | +1.06% | |
| 21 | AHCO | Adapthealth CORP | Stock-Other | 1.25% | -0.36% | — | |
| 22 | PHVS | Pharvaris N.V. | Stock-Other | 1.22% | +0.18% | +8.00% | |
| 23 | ✓ | Stock-Other | 1.19% | +1.19% | NEW | ||
| 24 | ARWR | Arrowhead Pharmaceuticals In | Stock-Healthcare | 1.18% | +0.02% | -11.71% | |
| 25 | DNTH | Dianthus Therapeutics Inc | Stock-Other | 1.14% | +0.13% | +10.35% | |
| 26 | LRMR | Larimar Therapeutics Inc | Stock-Other | 1.13% | -0.76% | — | |
| 27 | MLYS | Mineralys Therapeutics Inc | Stock-Other | 1.11% | +1.11% | NEW | |
| 28 | ALHC 4.25 11-15-29Bond | Alignment Healthcare | Bond | 1.08% | +0.07% | — | |
| 29 | IDYA | Ideaya Biosciences Inc | Stock-Other | 1.06% | +0.46% | +77.42% | |
| 30 | XENE | Xenon Pharmaceuticals Inc | Stock-Other | 1.02% | -0.09% | — | |
| 31 | IONS 1.75 06-15-28Bond | Ionis Pharmaceuticals In | Bond | 0.97% | -0.10% | — | |
| 32 | SVRA | Savara Inc | Stock-Other | 0.87% | — | — | |
| 33 | LNTH | Lantheus Holdings Inc | Stock-Healthcare | 0.87% | +0.13% | -9.06% | |
| 34 | SNDX | Syndax Pharmaceuticals Inc | Stock-Other | 0.86% | -0.18% | — | |
| 35 | ZBIO 2.5 04-01-32Bond | Zenas Biopharma Inc | Bond | 0.84% | +0.05% | +3.38% | |
| 36 | BMRN | Biomarin Pharmaceutical Inc | Stock-Healthcare | 0.80% | +0.23% | +56.52% | |
| 37 | PFE | Pfizer Inc | Stock-Healthcare | 0.76% | -0.25% | — | |
| 38 | INDV | Indivior Pharmaceuticals Inc | Stock-Other | 0.71% | -0.40% | -46.77% | |
| 39 | BIO | Bio-rad Laboratories-a | Stock-Healthcare | 0.69% | -0.05% | — | |
| 40 | SPRY | Ars Pharmaceuticals Inc | Stock-Other | 0.63% | -0.08% | — | |
| 41 | STOK | Stoke Therapeutics Inc | Stock-Other | 0.62% | -0.08% | — | |
| 42 | GPCR | Structure Therapeutics Inc | Stock-Other | 0.61% | +0.17% | +41.41% | |
| 43 | NVST | Envista Holdings CORP | Stock-Healthcare | 0.61% | -0.05% | — | |
| 44 | INSP | Inspire Medical Systems Inc | Stock-Healthcare | 0.60% | -1.04% | -52.03% | |
| 45 | CDNA | Caredx Inc | Stock-Other | 0.59% | +0.14% | -8.83% | |
| 46 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.59% | +0.59% | NEW | |
| 47 | BLTE | Belite Bio Inc - Adr | Stock-Other | 0.57% | — | +17.49% | |
| 48 | ✓ | Stock-Other | 0.54% | +0.54% | NEW | ||
| 49 | CERT | Certara Inc | Stock-Other | 0.51% | -0.02% | -3.79% | |
| 50 | IRON | Disc Medicine Inc | Stock-Other | 0.50% | — | — |
1–50 of 82
Portfolio Performance
Performance for Q3 2026
+6%
Performance Last 4 Quarters
+54.5%
Based on 61% of reported portfolio value with available pricing
- Stdev
- +22.5%
- Beta
- +0.95
- Alpha
- +6.5%
- Max Drawdown
- -23.7%
- Annualized Perf
- +25.7%
- Batting Avg vs S&P
- +50%
- Sortino
- +2.44
- Stutzer
- +0.34
- Treynor
- +0.27
- Sterling
- +1.15
- Calmar
- +1.09
- Information Ratio
- +0.29
- Tracking Error
- +18.9%
- Stdev Down
- +10.4%
- Winning Months %
- +55.6%
- Losing Months %
- +44.4%
- Best 12 Months
- +68.1%
- Worst 12 Months
- -20.1%
- Efficiency Ratio
- +0.53
- Sharpe
- +1.13
- Stdev Sectors
- 0%
- Skewness
- +0.4
- Kurtosis
- -0.38
- Upside Potential
- +4.19
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 82 | $9.6B | 38 | ||
| 2026 Q1 | 82 | $8.5B | 30 | ||
| 2025 Q4 | 150 | $7.8B | 48 | ||
| 2025 Q3 | 152 | $6.6B | 68 | ||
| 2025 Q2 | 124 | $5.5B | 0 | ||
| 2025 Q1 | 123 | $5.1B | 100 | ||
| 2024 Q4 | 106 | $5.3B | 0 | ||
| 2024 Q3 | 443 | $6.7B | 0 | ||
| 2024 Q2 | 433 | $6.0B | 0 | ||
| 2024 Q1 | 367 | $5.7B | 0 | ||
| 2023 Q4 | 222 | $5.4B | 0 | ||
| 2023 Q3 | 88 | $4.5B | 0 | ||
| 2023 Q2 | 101 | $4.7B | 0 | ||
| 2023 Q1 | 106 | $4.5B | 0 | ||
| 2022 Q4 | 104 | $4.8B | 0 | ||
| 2022 Q3 | 132 | $5.0B | 0 | ||
| 2022 Q2 | 127 | $4.8B | 0 | ||
| 2022 Q1 | 122 | $4.5B | 0 | ||
| 2021 Q4 | 127 | $4.8B | 0 | ||
| 2021 Q3 | 133 | $5.1B | 0 | ||
| 2021 Q2 | 143 | $5.6B | 67 | ||
| 2021 Q1 | 133 | $4.8B | 68 | ||
| 2020 Q4 | 129 | $5.1B | 72 | ||
| 2020 Q3 | 105 | $4.1B | 70 | ||
| 2020 Q2 | 93 | $3.4B | 60 | 1HZNP 2.5 03-15-222N594653NVRO 1.75 06-01-21 | |
| 2020 Q1 | 90 | $3.2B | 61 | ||
| 2019 Q4 | 76 | $3.1B | 54 | ||
| 2019 Q3 | 95 | $2.5B | 37 | 1G461882HZNP 2.5 03-15-223N59465 | |
| 2019 Q2 | 97 | $2.8B | 52 | 1G461882HZNP 2.5 03-15-223N59465 | |
| 2019 Q1 | 93 | $2.6B | 39 | ||
| 2018 Q4 | 99 | $2.5B | 47 | ||
| 2018 Q3 | 103 | $2.8B | 56 | ||
| 2018 Q2 | 114 | $2.8B | 45 | ||
| 2018 Q1 | 118 | $2.9B | 50 | ||
| 2017 Q4 | 98 | $2.5B | 47 | 1G5785G2N594653G4617B | |
| 2017 Q3 | 91 | $2.2B | 54 | ||
| 2017 Q2 | 85 | $1.9B | 59 | ||
| 2017 Q1 | 106 | $2.6B | 48 | 105366U2G4617B367072V | |
| 2016 Q4 | 102 | $2.4B | 47 | 1G4617B267072V305366U | |
| 2016 Q3 | 90 | $2.2B | 50 | ||
| 2016 Q2 | 106 | $2.5B | 48 | ||
| 2016 Q1 | 105 | $2.3B | 54 | 1G4617B2N59465367072V | |
| 2015 Q4 | 109 | $2.5B | 45 | ||
| 2015 Q3 | 134 | $2.6B | 52 | 1G4617B2MDRX 1.25 07-01-20367072V | |
| 2015 Q2 | 120 | $3.0B | 100 | 1G4617B2MDRX 1.25 07-01-203338488 | |
| 2015 Q1 | 123 | $3.1B | 0 | 105211J2G4617B3MDRX 1.25 07-01-20 | |
| 2014 Q4 | 111 | $2.8B | 70 | 105334D2018490305211J | |
| 2014 Q3 | 131 | $2.7B | 54 | 105334D2DNDN 2.875 01-15-163018490 | |
| 2014 Q2 | 127 | $2.5B | 65 | 1DNDN 2.875 01-15-16205334D345884X | |
| 2014 Q1 | 124 | $2.4B | 73 | ||
| 2013 Q4 | 106 | $1.9B | 64 | 1DNDN 2.875 01-15-16274835Y3229678 | |
| 2013 Q3 | 113 | $2.2B | 54 | 12296782DNDN 2.875 01-15-16367072V | |
| 2013 Q2 | 114 | $2.1B | 0 | 12296782DNDN 2.875 01-15-16305334D |
Holding changes this quarter
Deerfield Management Company, L.p.'s most significant position changes for 2026-06-30: New buy: ; Sold out: Mirum Pharmaceuticals (MIRM 4 05-01-29); New buy: ; New buy: Mineralys Therapeutics Inc (MLYS); Sold out: Catalyst Pharmaceuticals Inc (CPRX).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +2.6% | NEW | New buy | |
| 2 | RVMD | Revolution Medicines Inc | +2% | +4.14% | Add |
| 3 | NUVL | Nuvalent Inc-a | +1.4% | — | Unchanged |
| 4 | GMAB | Genmab A/s -sp Adr | +1.2% | +178.84% | Add |
| 5 | ✓ | +1.2% | NEW | New buy | |
| 6 | MLYS | Mineralys Therapeutics Inc | +1.1% | NEW | New buy |
| 7 | CNC | Centene CORP | +1% | -17.17% | Trim |
| 8 | LEGN | Legend Biotech Corp-adr | +0.8% | +5.85% | Add |
| 9 | BSX | Boston Scientific CORP | +0.6% | NEW | New buy |
| 10 | ✓ | +0.5% | NEW | New buy | |
| 11 | IDYA | Ideaya Biosciences Inc | +0.5% | +77.42% | Add |
| 12 | TNGX | Tango Therapeutics Inc | +0.4% | +1.06% | Add |
| 13 | ✓ | +0.3% | NEW | New buy | |
| 14 | BMRN | Biomarin Pharmaceutical Inc | +0.2% | +56.52% | Add |
| 15 | ✓ | +0.2% | NEW | New buy | |
| 16 | PHVS | Pharvaris N.V. | +0.2% | +8.00% | Add |
| 17 | GPCR | Structure Therapeutics Inc | +0.2% | +41.41% | Add |
| 18 | ✓ | +0.2% | NEW | New buy | |
| 19 | BKD 3.5 10-15-29Bond | Brookdale Senior Living | +0.2% | — | Unchanged |
| 20 | CHE | Chemed CORP | +0.2% | NEW | New buy |
| 21 | ACHC | Acadia Healthcare Co Inc | +0.1% | — | Unchanged |
| 22 | CDNA | Caredx Inc | +0.1% | -8.83% | Trim |
| 23 | VTRS | Viatris Inc | +0.1% | — | Unchanged |
| 24 | DNTH | Dianthus Therapeutics Inc | +0.1% | +10.35% | Add |
| 25 | LNTH | Lantheus Holdings Inc | +0.1% | -9.06% | Trim |
| 26 | ADAG | Adagene Inc-adr | +0.1% | NEW | New buy |
| 27 | ✓ | +0.1% | NEW | New buy | |
| 28 | MNPR | Monopar Therapeutics Inc | +0.1% | — | Unchanged |
| 29 | TYRA | Tyra Biosciences Inc | +0.1% | +85.25% | Add |
| 30 | ✓ | +0.1% | NEW | New buy | |
| 31 | ARWR 0 01-15-32Bond | Arrowhead Research CORP | +0.1% | — | Unchanged |
| 32 | BKD | Brookdale Senior Living Inc | +0.1% | — | Unchanged |
| 33 | ALHC 4.25 11-15-29Bond | Alignment Healthcare | +0.1% | — | Unchanged |
| 34 | TOI | Oncology Institute Inc/the | +0.1% | — | Unchanged |
| 35 | BBNX | Beta Bionics Inc | +0.1% | — | Unchanged |
| 36 | ZBIO 2.5 04-01-32Bond | Zenas Biopharma Inc | +0.1% | +3.38% | Add |
| 37 | ARWR | Arrowhead Pharmaceuticals In | 0% | -11.71% | Trim |
| 38 | LIVN 2.5 03-15-29Bond | Livanova PLC | 0% | — | Unchanged |
| 39 | MIRM | Mirum Pharmaceuticals Inc | 0% | NEW | New buy |
| 40 | SVRA | Savara Inc | — | — | Unchanged |
| 41 | BLTE | Belite Bio Inc - Adr | — | +17.49% | Add |
| 42 | IRON | Disc Medicine Inc | — | — | Unchanged |
| 43 | MANE | Veradermics Inc | — | EXIT | Sold out |
| 44 | HUM | Humana Inc | — | — | Unchanged |
| 45 | EW | Edwards Lifesciences CORP | — | — | Unchanged |
| 46 | ✓ | Newamsterdam Pharma Company | — | — | Unchanged |
| 47 | QSIAW | Quantum-si Inc -cw27 | — | EXIT | Sold out |
| 48 | TOIIW | Oncology Institute Inc Cw-22 | — | — | Unchanged |
| 49 | MYGN | Myriad Genetics Inc | — | EXIT | Sold out |
| 50 | PMVP | Pmv Pharmaceuticals Inc | — | — | Unchanged |
1–50 of 95
Filing History
FAQ
What is Deerfield Management Company, L.p. and what type of investor is it?
Deerfield Management Company, L.p. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $9.6B, spread across 82 disclosed positions.
What are Deerfield Management Company, L.p.'s largest equity positions?
Based on the latest 13F filing, Deerfield Management Company, L.p.'s top holdings by market value are:
1. Nuvalent Inc-a (NUVL) — $2.1B (22.2%)
2. Brookdale Senior Living (BKD 3.5 10-15-29) — $585.7M (6.1%)
3. Revolution Medicines Inc (RVMD) — $448.0M (4.7%)
4. Praxis Precision Medicines I (PRAX) — $322.5M (3.4%)
5. Viatris Inc (VTRS) — $320.9M (3.4%)
What changes did Deerfield Management Company, L.p. make in its most recent portfolio filing?
In the latest reported quarter, Deerfield Management Company, L.p. made 52 notable position adjustments: 13 new positions were initiated, 14 existing holdings were added to, 12 positions were partially reduced, and 13 were completely exited. The largest of these moves: New buy: ; Sold out: Mirum Pharmaceuticals (MIRM 4 05-01-29); New buy: ; New buy: Mineralys Therapeutics Inc (MLYS); Sold out: Catalyst Pharmaceuticals Inc (CPRX)
What sectors does Deerfield Management Company, L.p. focus on?
Deerfield Management Company, L.p. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 100.0%
Investment Profile
Deerfield Management Company, L.p. returned an annualized 25.7% over the trailing 36 months — outperforming the S&P 500 by 6.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.95 (roughly in line with the market) and a 50% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 100.0% of the portfolio concentrated in Health Care.
Its turnover score has risen from 0 to 38 over the past 4 quarters — a shift toward more active trading.
It has added to its NUVL position over the past two quarters (+$395.2M, now $2.1B), while trimming SPRY over the same stretch (-$27.3M, still holding $60.1M).
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Developer Access
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REST API
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