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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
KIDS icon
76
OrthoPediatrics
KIDS
$509M
$2.56M 0.03%
144,220
-49,889
-26% -$874K
CI icon
77
Cigna
CI
$77B
$2.53M 0.03%
+9,203
New +$2.58M
TRUP icon
78
Trupanion
TRUP
$1.08B
$2.48M 0.03%
66,438
+9,393
+16% +$369K
RMD icon
79
ResMed
RMD
$29.5B
$2.43M 0.03%
+10,104
New +$2.58M
BSX icon
80
Boston Scientific
BSX
$67.6B
$2.38M 0.03%
24,941
-6,371
-20% -$625K
DVA icon
81
DaVita
DVA
$15.2B
$2.38M 0.03%
20,909
+2,342
+13% +$285K
DOCS icon
82
Doximity
DOCS
$3.77B
$2.3M 0.03%
+51,942
New +$2.92M
DXCM icon
83
DexCom
DXCM
$28.3B
$2.19M 0.03%
32,943
+10,656
+48% +$689K
IRTC icon
84
iRhythm Holdings
IRTC
$3.69B
$2.15M 0.03%
12,099
-5,163
-30% -$915K
NAMSW icon
85
NewAmsterdam Pharma Warrant
NAMSW
$87.4M
$2.13M 0.03%
92,787
– –
CNMD icon
86
CONMED
CNMD
$1.31B
$2.13M 0.03%
52,555
-707,641
-93% -$30.8M
MASI
87
DELISTED
Masimo
MASI
$2.1M 0.03%
+16,147
New +$2.31M
LMAT icon
88
LeMaitre Vascular
LMAT
$2.26B
$2.09M 0.03%
25,815
-4,144
-14% -$357K
TXG icon
89
10x Genomics
TXG
$5.83B
$2.06M 0.03%
126,574
-134,614
-52% -$2.03M
ATRC icon
90
AtriCure
ATRC
$1.89B
$2.06M 0.03%
52,076
-35,493
-41% -$1.3M
AVNS icon
91
Avanos Medical
AVNS
$1.17B
$1.88M 0.02%
167,061
+44,162
+36% +$505K
CRVL icon
92
CorVel
CRVL
$3.08B
$1.87M 0.02%
27,629
-2,587
-9% -$187K
CAH icon
93
Cardinal Health
CAH
$53.7B
$1.85M 0.02%
+8,985
New +$1.69M
GDRX icon
94
GoodRx Holdings
GDRX
$1.03B
$1.79M 0.02%
+660,133
New +$2.17M
SGRY icon
95
Surgery Partners
SGRY
$1.98B
$1.74M 0.02%
+112,623
New +$2.07M
ALGN icon
96
Align Technology
ALGN
$12B
$1.72M 0.02%
11,000
-21,789
-66% -$3.12M
ADUS icon
97
Addus HomeCare
ADUS
$2.16B
$1.7M 0.02%
+15,871
New +$1.82M
MMSI icon
98
Merit Medical Systems
MMSI
$4.54B
$1.66M 0.02%
18,798
-23,048
-55% -$1.96M
NHC icon
99
National Healthcare
NHC
$3.53B
$1.66M 0.02%
12,085
-2,499
-17% -$323K
ALEC icon
100
Alector
ALEC
$168M
$1.65M 0.02%
1,055,192
– –
2 3
4
5 6

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GRQ
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PCM
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VA
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QC
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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.