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Deerfield Management Portfolio holdings

AUM $8.48B
1-Year Est. Return 99.04%
This Fund
S&P 500
This Quarter Est. Return
+9.69%
1 Year Est. Return
+99.04%
3 Year Est. Return
+273.78%
5 Year Est. Return
+280.99%
10 Year Est. Return
+2,168.14%
AUM
$5.51B
AUM Growth
+$445M
Cap. Flow
-$338M
Cap. Flow %
-6.13%
Top 10 Hldgs %
54.24%
Holding
167
New
43
Increased
28
Reduced
13
Closed
43

Top Buys

Rank Stock Value
1
UTHR icon
United Therapeutics
UTHR
+$79.3M
2
MRK icon
Merck
MRK
+$68.2M
3
VERA icon
Vera Therapeutics
VERA
+$51.7M
4
LEGN icon
Legend Biotech
LEGN
+$39.5M
5
CNC icon
Centene
CNC
+$30.1M

Top Sells

Rank Stock Value
1
ALHC icon
Alignment Healthcare
ALHC
+$68M
2
DVAX
Dynavax Technologies
DVAX
+$67.3M
3
NBIX icon
Neurocrine Biosciences
NBIX
+$36.8M
4
CMRX
Chimerix, Inc.
CMRX
+$32.1M
5
INMD icon
InMode
INMD
+$28M

Sector Composition

Rank Sector Weight
1 Healthcare 89.05%
2 Real Estate 0.41%
3 Financials 0%
4 Industrials 0%
5 Technology 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EHAB
26
DELISTED
Enhabit
EHAB
$46.1M 0.84%
4,779,864
-217,882
-4% -$2.01M
CERT icon
27
Certara
CERT
$1.08B
$45.9M 0.83%
3,926,099
+1,903,483
+94% +$22.5M
NVST icon
28
Envista
NVST
$4.35B
$43.3M 0.79%
2,215,845
+190,902
+9% +$3.32M
BCRX icon
29
BioCryst Pharmaceuticals
BCRX
$2.36B
$42M 0.76%
4,692,000
-497,665
-10% -$4.63M
CNMD icon
30
CONMED
CNMD
$1.3B
$36.5M 0.66%
700,271
+89,271
+15% +$4.9M
PHVS icon
31
Pharvaris
PHVS
$2.44B
$35.5M 0.64%
2,017,464
– –
CGEM icon
32
Cullinan Oncology
CGEM
$1.09B
$29M 0.53%
3,855,552
-5,287
-0.1% -$42.5K
PRAX icon
33
Praxis Precision Medicines
PRAX
$8.77B
$28.9M 0.52%
686,931
+67,000
+11% +$2.55M
PHR icon
34
Phreesia
PHR
$662M
$28.9M 0.52%
1,014,577
+4,733
+0.5% +$120K
KYMR icon
35
Kymera Therapeutics
KYMR
$9.52B
$28.5M 0.52%
653,000
+60,000
+10% +$2.07M
MRNA icon
36
Moderna
MRNA
$24.5B
$27.6M 0.5%
+1,000,000
New +$26.3M
EWTX icon
37
Edgewise Therapeutics
EWTX
$4.28B
$27.1M 0.49%
2,067,320
-11,189
-0.5% -$161K
EMBC icon
38
Embecta
EMBC
$193M
$26.6M 0.48%
2,749,712
+29,177
+1% +$328K
DAWN
39
DELISTED
Day One Biopharmaceuticals
DAWN
$24.2M 0.44%
3,723,131
+762,391
+26% +$5.24M
VTR icon
40
Ventas
VTR
$46.7B
$22.4M 0.41%
+354,000
New +$23.1M
LQDA icon
41
Liquidia Corp
LQDA
$7.11B
$20.1M 0.37%
1,616,778
– –
COGT icon
42
Cogent Biosciences
COGT
$6.68B
$19M 0.34%
2,640,215
+6,353
+0.2% +$35.2K
MREO
43
Mereo BioPharma
MREO
$49.5M
$18.2M 0.33%
6,710,429
– –
INSP icon
44
Inspire Medical Systems
INSP
$1.46B
$18.2M 0.33%
+140,000
New +$20.3M
SVRA icon
45
Savara
SVRA
$1.13B
$18.2M 0.33%
7,964,000
– –
BBNX
46
Beta Bionics
BBNX
$770M
$17M 0.31%
1,168,415
+152,415
+15% +$2.16M
XENE icon
47
Xenon Pharmaceuticals
XENE
$6.6B
$17M 0.31%
+542,020
New +$17.7M
VCYT icon
48
Veracyte
VCYT
$4.72B
$16.9M 0.31%
+625,000
New +$18.1M
SION
49
Sionna Therapeutics
SION
$2.23B
$16.8M 0.31%
970,590
+223,590
+30% +$2.93M
NEO icon
50
NeoGenomics
NEO
$1.9B
$15.7M 0.29%
+2,148,000
New +$17.3M
1
2
3 4 5

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Deerfield Management's Q2 2025 Portfolio in Review

As of Q2 2025, Deerfield Management held 167 positions worth $5.51B, up 8.8% from $5.06B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Deerfield Management withdrew a net $338M in Q2 2025, closing 43 positions and reducing 13 holdings. Its most notable exit was Dynavax Technologies, an estimated $67.3M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 89% of assets, up from 87% a quarter earlier, followed by Real Estate and Financials.

Against the trend, Deerfield Management opened a new position in Merck worth $67.9M.

  • Deerfield Management's largest Q2 2025 buy was Merck: 857,724 shares worth $67.9M.
  • Deerfield Management added most to United Therapeutics in Q2 2025, an estimated $79.3M increase.
  • Deerfield Management's biggest Q2 2025 reduction was Alignment Healthcare, cutting an estimated $68M.
  • Deerfield Management fully exited Dynavax Technologies in Q2 2025, selling an estimated $67.3M.
  • Deerfield Management's ten largest holdings make up 54% of its $5.51B portfolio in Q2 2025.
  • Deerfield Management opened 43 new positions and closed 43 in Q2 2025.
  • Deerfield Management's portfolio value rose 8.8% quarter-over-quarter to $5.51B.

Based on Deerfield Management's 13F filing for Q2 2025, filed 14 Aug 2025.