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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
+29.88%
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
$2.78B
AUM Growth
+$40.3M
Cap. Flow
-$635M
Cap. Flow %
-22.8%
Top 10 Hldgs %
41.28%
Holding
156
New
21
Increased
23
Reduced
32
Closed
45

Top Buys

Rank Stock Value
1
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$77.3M
2
ACHN
Achillion Pharmaceuticals
ACHN
+$35.7M
3
NVRO
NEVRO CORP.
NVRO
+$33M
4
VNDA icon
Vanda Pharmaceuticals
VNDA
+$23.3M
5
AGN
Allergan Inc
AGN
+$22.9M

Top Sells

Rank Stock Value
1
MNK
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
+$46M
2
ABBV icon
AbbVie
ABBV
+$44.3M
3
KITE
Kite Pharma, Inc.
KITE
+$36M
4
DRNA
Dicerna Pharmaceuticals, Inc.
DRNA
+$30.9M
5
WBA
Walgreens Boots Alliance
WBA
+$28.6M

Sector Composition

Rank Sector Weight
1 Healthcare 52.44%
2 Financials 2.69%
3 Technology 0.73%
4 Industrials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AUXL
1
DELISTED
AUXILIUM PHARAMCEUTICALS INC
AUXL
$216M 7.74%
6,267,382
– –
ASPX
2
DELISTED
AUSPEX PHARMACEUTICALS INC COM STK (DE)
ASPX
$155M 5.56%
2,949,103
+436,943
+17% +$12.8M
HZNP
3
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$151M 5.42%
11,699,047
+6,178,481
+112% +$77.3M
AGN
4
DELISTED
Allergan Inc
AGN
$129M 4.63%
606,601
+115,202
+23% +$22.9M
AVDL
5
DELISTED
Avadel Pharmaceuticals
AVDL
$90.1M 3.24%
5,258,475
– –
ADVM
6
DELISTED
Adverum Biotechnologies
ADVM
$87.2M 3.13%
161,467
-43,301
-21% -$16.7M
NXTM
7
DELISTED
NxStage Medical Inc.
NXTM
$86.3M 3.1%
4,811,494
-1,329,600
-22% -$21.4M
BLUE
8
DELISTED
bluebird bio
BLUE
$78M 2.8%
65,692
-31,479
-32% -$21M
INFI
9
DELISTED
Infinity Pharmaceuticals, Inc.
INFI
$65.2M 2.34%
3,857,805
-25,000
-0.6% -$364K
RNA
10
DELISTED
PROSENSA HLDGS N V ORD SHS (NLD)
RNA
$62.2M 2.23%
3,316,434
+717,975
+28% +$10.2M
VNDA icon
11
Vanda Pharmaceuticals
VNDA
$327M
$59.3M 2.13%
4,139,787
+1,971,112
+91% +$23.3M
EHTH icon
12
eHealth
EHTH
$47.3M
$56.4M 2.03%
2,264,588
– –
ARRY
13
DELISTED
Array Biopharma Inc
ARRY
$56M 2.01%
11,834,595
-371,078
-3% -$1.47M
AERI
14
DELISTED
Aerie Pharmaceuticals
AERI
$54.3M 1.95%
1,858,917
-466,000
-20% -$11.8M
UAM
15
DELISTED
Universal American Corp
UAM
$52.1M 1.87%
5,614,798
-379,720
-6% -$3.3M
ELGX
16
DELISTED
Endologix Inc
ELGX
$51.7M 1.86%
337,879
+87,726
+35% +$10.9M
AGN
17
CALL
DELISTED
Allergan Inc
AGN
$42.5M 1.53%
200,000
– –
NVRO
18
DELISTED
NEVRO CORP.
NVRO
$40.5M 1.45%
+1,047,093
New +$33M
HUM icon
19
CALL
Humana
HUM
$48B
$40.2M 1.44%
280,000
– –
PACB icon
20
Pacific Biosciences
PACB
$447M
$40.1M 1.44%
5,120,771
+721,439
+16% +$4.62M
ACHN
21
DELISTED
Achillion Pharmaceuticals
ACHN
$35.8M 1.29%
+2,920,300
New +$35.7M
INSM icon
22
Insmed
INSM
$23.5B
$34.7M 1.25%
2,241,631
+161,471
+8% +$2.29M
DVA icon
23
DaVita
DVA
$15.2B
$32.9M 1.18%
435,000
-207,425
-32% -$15.6M
TPST icon
24
Tempest Therapeutics
TPST
$15.4M
$27.7M 1%
214
-174
-45% -$12.7M
ARNA
25
DELISTED
Arena Pharmaceuticals Inc
ARNA
$24.1M 0.87%
695,374
+110,574
+19% +$4.49M
1
2 3 4 5

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Deerfield Management's Q4 2014 Portfolio in Review

As of Q4 2014, Deerfield Management held 156 positions worth $2.78B, up 1.5% from $2.74B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Deerfield Management withdrew a net $635M in Q4 2014, closing 45 positions and reducing 32 holdings. Its most notable exit was MALLINCKRODT PUBLIC LIMITED COMPANY, an estimated $46M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 52% of assets, up from 47% a quarter earlier, followed by Financials and Technology.

Against the trend, Deerfield Management opened a new position in Achillion Pharmaceuticals worth $35.8M.

  • Deerfield Management's largest Q4 2014 buy was Achillion Pharmaceuticals: 2,920,300 shares worth $35.8M.
  • Deerfield Management added most to Horizon Therapeutics Public Limited Company Ordinary Shares in Q4 2014, an estimated $77.3M increase.
  • Deerfield Management's biggest Q4 2014 reduction was Kite Pharma, Inc., cutting an estimated $36M.
  • Deerfield Management fully exited MALLINCKRODT PUBLIC LIMITED COMPANY in Q4 2014, selling an estimated $46M.
  • Deerfield Management's ten largest holdings make up 41% of its $2.78B portfolio in Q4 2014.
  • Deerfield Management opened 21 new positions and closed 45 in Q4 2014.
  • Deerfield Management's portfolio value rose 1.5% quarter-over-quarter to $2.78B.

Based on Deerfield Management's 13F filing for Q4 2014, filed 17 Feb 2015.