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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
EHC icon
101
Encompass Health
EHC
$11.6B
$1.62M 0.02%
+15,259
New +$1.77M
VREX icon
102
Varex Imaging
VREX
$476M
$1.53M 0.02%
131,745
-153,462
-54% -$1.8M
HQY icon
103
HealthEquity
HQY
$8.45B
$1.49M 0.02%
16,231
+9,171
+130% +$878K
ABT icon
104
Abbott
ABT
$188B
$1.43M 0.02%
+11,449
New +$1.46M
MMS icon
105
Maximus
MMS
$3.32B
$1.43M 0.02%
+16,606
New +$1.42M
SYK icon
106
Stryker
SYK
$133B
$1.25M 0.02%
3,551
+1,563
+79% +$569K
ATEC icon
107
Alphatec Holdings
ATEC
$1.42B
$1.21M 0.02%
57,277
-7,985
-12% -$148K
STAA icon
108
STAAR Surgical
STAA
$1.1B
$1.2M 0.02%
51,894
-45,095
-46% -$1.16M
EW icon
109
Edwards Lifesciences
EW
$48.3B
$1.17M 0.01%
13,702
+7,353
+116% +$603K
UFPT icon
110
UFP Technologies
UFPT
$1.97B
$1.13M 0.01%
5,098
-13,562
-73% -$2.91M
KVUE icon
111
Kenvue
KVUE
$38.1B
$1.13M 0.01%
65,344
-128,509
-66% -$2.1M
MDXG icon
112
MiMedx Group
MDXG
$651M
$1.09M 0.01%
160,419
+55,549
+53% +$389K
ITGR icon
113
Integer Holdings
ITGR
$3.4B
$1.05M 0.01%
13,326
+798
+6% +$63.6K
RVTY icon
114
Revvity
RVTY
$12.4B
$999K 0.01%
10,323
-23,218
-69% -$2.23M
AZTA icon
115
Azenta
AZTA
$1.31B
$859K 0.01%
25,835
-15,169
-37% -$496K
ARVN icon
116
Arvinas
ARVN
$525M
$807K 0.01%
+68,057
New +$743K
ZTS icon
117
Zoetis
ZTS
$32.9B
$717K 0.01%
5,698
-2,856
-33% -$373K
COO icon
118
Cooper Companies
COO
$14.1B
$638K 0.01%
7,786
-35,324
-82% -$2.64M
SDGR icon
119
Schrodinger
SDGR
$1.16B
$608K 0.01%
+33,987
New +$644K
TNDM icon
120
Tandem Diabetes Care
TNDM
$1.23B
$573K 0.01%
26,090
+13,895
+114% +$251K
RXST icon
121
RxSight
RXST
$248M
$545K 0.01%
+52,257
New +$524K
IART icon
122
Integra LifeSciences
IART
$1.58B
$487K 0.01%
39,209
-755,656
-95% -$10M
ABBV icon
123
AbbVie
ABBV
$468B
$460K 0.01%
+2,014
New +$459K
HROW icon
124
Harrow
HROW
$1.37B
$426K 0.01%
+8,693
New +$365K
XERS icon
125
Xeris Biopharma Holdings
XERS
$1.42B
$410K 0.01%
52,230
-68,670
-57% -$540K
3 4
5
6 7

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GRQ
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PCM
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QC
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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.