Deerfield Management Portfolio holdings
Deerfield Management is an investment firm dedicated to healthcare, backing therapeutics, medical device, diagnostics and digital health companies at every stage, from startups to mature public businesses. Arnold Snider, a former Tiger Management managing director and Kidder Peabody pharmaceutical analyst, founded the firm in 1994 and retired in 2005. James Flynn joined in 2000 and later became chief executive. Its first healthcare innovations fund, raised in 2015, aimed at scientific advances that could lead to new treatments for genetic diseases, cancer and orphan diseases. In 2020 Deerfield took over Melinta Therapeutics, swapping secured debt for all of its equity after Melinta filed for bankruptcy. Its in-house research arm, Deerfield Discovery and Development, moves early-stage therapies from scientific discovery into the clinic.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Adeptus Health Inc
ADPT
|
+$38.6M |
| 2 |
Syros Pharmaceuticals, Inc. Common Stock
SYRS
|
+$38M |
| 3 |
DBV Technologies S.A. American Depositary Shares
DBVT
|
+$30M |
| 4 |
Humana
HUM
|
+$28.3M |
| 5 |
GWPH
GW Pharmaceuticals Plc American Depositary Shares
GWPH
|
+$26.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
GSK
GSK
|
+$67.9M |
| 2 |
Sage Therapeutics
SAGE
|
+$35.7M |
| 3 |
McKesson
MCK
|
+$27.5M |
| 4 |
HTWR
HEARTWARE INTERNATIONAL INC COM STK (DE)
HTWR
|
+$27.4M |
| 5 |
AET
Aetna Inc
AET
|
+$25.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 75.51% |
| 2 | Miscellaneous | 20.53% |
| 3 | Financials | 3.21% |
| 4 | Industrials | 0.75% |
| 5 | Technology | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
HZNP
1
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $226M | 8.89% |
13,740,261
| – | – |
2013 Q4
10 quarters
|
|
|
NXTM
2
DELISTED
NxStage Medical Inc.
NXTM
| $97.7M | 3.84% |
4,505,468
-1,000,560
| -18% | -$17.9M |
2013 Q2
12 quarters
|
|
|
GWPH
3
DELISTED
GW Pharmaceuticals Plc American Depositary Shares
GWPH
| $90.8M | 3.57% |
991,800
+317,427
| +47% | +$26.7M |
2015 Q1
5 quarters
|
|
|
PTLA
4
DELISTED
Portola Pharmaceuticals, Inc.
PTLA
| $86.7M | 3.41% |
3,673,727
+583,942
| +19% | +$14.4M |
2013 Q2
12 quarters
|
|
|
AVXS
5
DELISTED
AveXis, Inc. Common Stock
AVXS
| $85M | 3.34% |
2,236,701
| – | – |
2016 Q1
1 quarter
|
|
|
6
DELISTED
Adeptus Health Inc
ADPT
| $82.7M | 3.25% |
1,600,861
+644,328
| +67% | +$38.6M |
2014 Q3
7 quarters
|
|
|
XNPT
7
DELISTED
XENOPORT, INC.
XNPT
| $81.5M | 3.2% |
11,572,125
| – | – |
2015 Q3
3 quarters
|
|
8
Vanda Pharmaceuticals
VNDA
$241M
| $67.1M | 2.64% |
5,996,691
| – | – |
2013 Q3
11 quarters
|
|
9
Viatris
VTRS
$23.9B
| $57.9M | 2.28% |
1,339,334
-493,201
| -27% | -$21.8M |
2015 Q1
5 quarters
|
|
|
10
DBV Technologies S.A. American Depositary Shares
DBVT
$693M
| $56.9M | 2.23% |
174,323
+92,542
| +113% | +$30M |
2014 Q4
6 quarters
|
|
11
Xencor
XNCR
$2.78B
| $55.6M | 2.19% |
2,930,486
-537,026
| -15% | -$7.36M |
2015 Q1
5 quarters
|
|
12
DELISTED
Walgreens Boots Alliance
WBA
| $50.9M | 2% |
611,457
+100,000
| +20% | +$8.07M |
2015 Q1
5 quarters
|
|
|
AAC
13
DELISTED
AAC Holdings
AAC
| $49.1M | 1.93% |
2,149,702
-145,234
| -6% | -$2.96M |
2015 Q1
5 quarters
|
|
|
AET
14
DELISTED
Aetna Inc
AET
| $44.7M | 1.76% |
366,000
-225,465
| -38% | -$25.9M |
2015 Q1
5 quarters
|
|
|
AERI
15
DELISTED
Aerie Pharmaceuticals
AERI
| $44.4M | 1.74% |
2,520,585
-111,897
| -4% | -$1.81M |
2013 Q4
10 quarters
|
|
|
AVDL
16
DELISTED
Avadel Pharmaceuticals
AVDL
| $43.7M | 1.72% |
4,072,809
| – | – |
2013 Q2
12 quarters
|
|
17
Editas Medicine
EDIT
$335M
| $41.7M | 1.64% |
1,709,400
| – | – |
2016 Q1
1 quarter
|
|
18
DaVita
DVA
$11B
| $40.6M | 1.6% |
525,000
-297,000
| -36% | -$22.4M |
2013 Q4
10 quarters
|
|
|
19
DELISTED
Syros Pharmaceuticals, Inc. Common Stock
SYRS
| $38M | 1.49% |
+209,522
| New | +$38M |
2016 Q2
0 quarters
|
|
20
eHealth
EHTH
$13.4M
| $37M | 1.46% |
2,640,609
-623,979
| -19% | -$7.57M |
2014 Q1
9 quarters
|
|
|
ZLTQ
21
DELISTED
ZELTIQ Aesthetics, Inc.
ZLTQ
| $35.4M | 1.39% |
1,297,000
+192,583
| +17% | +$5.42M |
2016 Q1
1 quarter
|
|
|
UAM
22
DELISTED
Universal American Corp
UAM
| $32.8M | 1.29% |
4,323,000
-962,500
| -18% | -$7.46M |
2013 Q2
12 quarters
|
|
|
RLYP
23
DELISTED
RELYPSA INC COM
RLYP
| $30.9M | 1.21% |
1,670,383
-203,088
| -11% | -$3.57M |
2015 Q2
4 quarters
|
|
24
DELISTED
Array Biopharma Inc
ARRY
| $29.8M | 1.17% |
8,361,069
-1,168,292
| -12% | -$3.81M |
2013 Q2
12 quarters
|
|
|
TVTY
25
DELISTED
Tivity Health, Inc. Common Stock
TVTY
| $29.4M | 1.15% |
2,541,686
+66,299
| +3% | +$776K |
2015 Q2
4 quarters
|
|
Similar funds
Deerfield Management's Q2 2016 Portfolio in Review
As of Q2 2016, Deerfield Management held 126 positions worth $2.54B, up 8.3% from $2.35B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
Deerfield Management withdrew a net $299M in Q2 2016, closing 19 positions and reducing 23 holdings. Its most notable exit was GSK, an estimated $67.9M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 76% of assets, up from 75% a quarter earlier, followed by Miscellaneous and Financials.
Against the trend, Deerfield Management opened a new position in Syros Pharmaceuticals, Inc. Common Stock worth $38M.
- Deerfield Management's largest Q2 2016 buy was Syros Pharmaceuticals, Inc. Common Stock: 209,522 shares worth $38M.
- Deerfield Management added most to Adeptus Health Inc in Q2 2016, an estimated $38.6M increase.
- Deerfield Management's biggest Q2 2016 reduction was Aetna Inc, cutting an estimated $25.9M.
- Deerfield Management fully exited GSK in Q2 2016, selling an estimated $67.9M.
- Deerfield Management's ten largest holdings make up 38% of its $2.54B portfolio in Q2 2016.
- Deerfield Management opened 21 new positions and closed 19 in Q2 2016.
- Deerfield Management's portfolio value rose 8.3% quarter-over-quarter to $2.54B.
Based on Deerfield Management's 13F filing for Q2 2016, filed 15 Aug 2016.