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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
+42.35%
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
$7.83B
AUM Growth
+$1.28B
Cap. Flow
-$1B
Cap. Flow %
-12.77%
Top 10 Hldgs %
52.25%
Holding
183
New
30
Increased
37
Reduced
43
Closed
33

Top Buys

Rank Stock Value
1
LEGN icon
Legend Biotech
LEGN
+$85.1M
2
CELC icon
Celcuity
CELC
+$80.6M
3
ACHC icon
Acadia Healthcare
ACHC
+$63M
4
STOK icon
Stoke Therapeutics
STOK
+$54.8M
5
LNTH icon
Lantheus
LNTH
+$48.2M

Top Sells

Rank Stock Value
1
MRUS
Merus
MRUS
+$287M
2
INDV icon
Indivior Pharmaceuticals
INDV
+$110M
3
BMY icon
Bristol-Myers Squibb
BMY
+$105M
4
CNC icon
Centene
CNC
+$97.3M
5
MRK icon
Merck
MRK
+$86.4M

Sector Composition

Rank Sector Weight
1 Healthcare 86.9%
2 Real Estate 0.35%
3 Financials 0.06%
4 Consumer Discretionary 0.04%
5 Consumer Staples 0.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FHTX icon
51
Foghorn Therapeutics
FHTX
$305M
$19.7M 0.25%
3,649,211
+393,697
+12% +$1.78M
CMPX icon
52
Compass Therapeutics
CMPX
$375M
$19.4M 0.25%
+3,606,000
New +$16.7M
EWTX icon
53
Edgewise Therapeutics
EWTX
$4.48B
$19M 0.24%
765,694
– –
KYTX icon
54
Kyverna Therapeutics
KYTX
$481M
$18.8M 0.24%
+2,000,000
New +$14.8M
TSHA icon
55
Taysha Gene Therapies
TSHA
$1.59B
$15M 0.19%
2,722,165
-2,663,835
-49% -$12.9M
CRMD icon
56
CorMedix
CRMD
$596M
$12.9M 0.16%
1,107,944
-2,215,889
-67% -$24.5M
TOI icon
57
The Oncology Institute
TOI
$519M
$12M 0.15%
3,360,052
– –
MNPR icon
58
Monopar Therapeutics
MNPR
$739M
$11.1M 0.14%
170,558
+10,793
+7% +$882K
MDLN
59
Medline Inc
MDLN
$33.6B
$10.9M 0.14%
+260,000
New +$11M
OMDA
60
Omada Health Inc
OMDA
$1.22B
$8.73M 0.11%
553,107
– –
CALC icon
61
CalciMedica
CALC
$11.1M
$8.57M 0.11%
1,300,000
– –
PBH icon
62
Prestige Consumer Healthcare
PBH
$2.39B
$4.3M 0.05%
69,669
+5,106
+8% +$313K
CGEM icon
63
Cullinan Oncology
CGEM
$1.07B
$4M 0.05%
386,169
-2,540,844
-87% -$22.9M
VEEV icon
64
Veeva Systems
VEEV
$31.6B
$3.95M 0.05%
+17,711
New +$4.7M
RDNT icon
65
RadNet
RDNT
$4.84B
$3.56M 0.05%
49,951
+10,038
+25% +$775K
LH icon
66
Labcorp
LH
$24.7B
$3.47M 0.04%
13,825
+12,768
+1,208% +$3.39M
ENOV icon
67
Enovis
ENOV
$1.63B
$3.39M 0.04%
127,270
+58,057
+84% +$1.72M
ALHC icon
68
Alignment Healthcare
ALHC
$3.86B
$3.25M 0.04%
164,345
+61,403
+60% +$1.1M
DGX icon
69
Quest Diagnostics
DGX
$25.6B
$3.19M 0.04%
+18,392
New +$3.35M
TMDX icon
70
Transmedics
TMDX
$2.57B
$3.1M 0.04%
25,492
+12,740
+100% +$1.6M
PODD icon
71
Insulet
PODD
$11.4B
$3.02M 0.04%
10,616
+6,136
+137% +$1.92M
ANNX icon
72
Annexon
ANNX
$841M
$2.93M 0.04%
583,913
– –
BLFS icon
73
BioLife Solutions
BLFS
$1.46B
$2.91M 0.04%
120,211
+9,016
+8% +$236K
CHE icon
74
Chemed
CHE
$6.76B
$2.66M 0.03%
6,215
+1,551
+33% +$675K
WOOF icon
75
Petco
WOOF
$777M
$2.63M 0.03%
+936,309
New +$3.03M
1 2
3
4 5

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GRQ
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PCM
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VA
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QC
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IC
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NW
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AAF
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Deerfield Management's Q4 2025 Portfolio in Review

As of Q4 2025, Deerfield Management held 183 positions worth $7.83B, up 20% from $6.55B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Deerfield Management withdrew a net $1B in Q4 2025, closing 33 positions and reducing 43 holdings. Its most notable exit was Merus, an estimated $287M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 87% of assets, down from 92% a quarter earlier, followed by Real Estate and Financials.

Against the trend, Deerfield Management opened a new position in Stoke Therapeutics worth $57.9M.

  • Deerfield Management's largest Q4 2025 buy was Stoke Therapeutics: 1,823,500 shares worth $57.9M.
  • Deerfield Management added most to Legend Biotech in Q4 2025, an estimated $85.1M increase.
  • Deerfield Management's biggest Q4 2025 reduction was Indivior Pharmaceuticals, cutting an estimated $110M.
  • Deerfield Management fully exited Merus in Q4 2025, selling an estimated $287M.
  • Deerfield Management's ten largest holdings make up 52% of its $7.83B portfolio in Q4 2025.
  • Deerfield Management opened 30 new positions and closed 33 in Q4 2025.
  • Deerfield Management's portfolio value rose 20% quarter-over-quarter to $7.83B.

Based on Deerfield Management's 13F filing for Q4 2025, filed 17 Feb 2026.