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Deerfield Management Portfolio holdings

AUM $9.59B
1-Year Est. Return 113.36%
This Fund
S&P 500
This Quarter Est. Return
+9.69%
1 Year Est. Return
+113.36%
3 Year Est. Return
+277.48%
5 Year Est. Return
+350.78%
10 Year Est. Return
+2,290.11%
AUM
$5.51B
AUM Growth
+$445M
Cap. Flow
-$317M
Cap. Flow %
-5.76%
Top 10 Hldgs %
54.24%
Holding
167
New
43
Increased
28
Reduced
13
Closed
43

Top Buys

Rank Stock Value
1
UTHR icon
United Therapeutics
UTHR
+$79.3M
2
MRK icon
Merck
MRK
+$68.2M
3
VERA icon
Vera Therapeutics
VERA
+$51.7M
4
LEGN icon
Legend Biotech
LEGN
+$39.5M
5
CNC icon
Centene
CNC
+$30.1M

Top Sells

Rank Stock Value
1
ALHC icon
Alignment Healthcare
ALHC
+$68M
2
DVAX
Dynavax Technologies
DVAX
+$67.3M
3
NBIX icon
Neurocrine Biosciences
NBIX
+$36.8M
4
CMRX
Chimerix, Inc.
CMRX
+$32.1M
5
INMD icon
InMode
INMD
+$28M

Sector Composition

Rank Sector Weight
1 Healthcare 89.05%
2 Miscellaneous 10.54%
3 Real Estate 0.41%
4 Financials 0%
5 Industrials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NUVL
1
DELISTED
Nuvalent
NUVL
$1.37B 24.91%
17,991,024
– –
OSCR icon
2
Oscar Health
OSCR
$9.95B
$250M 4.53%
11,649,591
-191,227
-2% -$2.84M
VTRS icon
3
Viatris
VTRS
$19.5B
$215M 3.89%
24,023,907
+32,313
+0.1% +$273K
MRUS
4
DELISTED
Merus
MRUS
$178M 3.23%
3,384,628
+210,700
+7% +$9.91M
CNC icon
5
Centene
CNC
$33.6B
$173M 3.14%
3,185,370
+513,449
+19% +$30.1M
SPRY icon
6
ARS Pharmaceuticals
SPRY
$564M
$170M 3.08%
9,724,508
-790,149
-8% -$11.4M
INDV icon
7
Indivior Pharmaceuticals
INDV
$4.11B
$156M 2.83%
10,567,160
– –
UTHR icon
8
United Therapeutics
UTHR
$21B
$155M 2.82%
540,626
+265,400
+96% +$79.3M
NBIX icon
9
Neurocrine Biosciences
NBIX
$16.1B
$147M 2.66%
1,167,802
-321,198
-22% -$36.8M
RVMD icon
10
Revolution Medicines
RVMD
$45.2B
$125M 2.26%
3,384,072
+66,740
+2% +$2.56M
BKD icon
11
Brookdale Senior Living
BKD
$2.85B
$107M 1.94%
15,362,264
-250,000
-2% -$1.63M
LEGN icon
12
Legend Biotech
LEGN
$4.23B
$105M 1.91%
2,962,338
+1,218,783
+70% +$39.5M
PFE icon
13
Pfizer
PFE
$164B
$104M 1.89%
4,306,264
+958,968
+29% +$22.4M
AHCO icon
14
AdaptHealth
AHCO
$856M
$93.4M 1.7%
9,904,895
+193,485
+2% +$1.71M
NAMS icon
15
NewAmsterdam Pharma
NAMS
$3.09B
$92.6M 1.68%
5,115,953
+1,011,996
+25% +$18.5M
IDYA icon
16
IDEAYA Biosciences
IDYA
$3.86B
$82.3M 1.49%
3,915,311
+647,760
+20% +$12.4M
VERA icon
17
Vera Therapeutics
VERA
$2.52B
$78.9M 1.43%
3,348,117
+2,298,117
+219% +$51.7M
INSM icon
18
Insmed
INSM
$27.7B
$70.5M 1.28%
700,700
+242,700
+53% +$18.6M
MRK icon
19
Merck
MRK
$376B
$67.9M 1.23%
+857,724
New +$68.2M
CPRX
20
DELISTED
Catalyst Pharmaceutical
CPRX
$62.5M 1.13%
2,879,476
-542,673
-16% -$12.8M
LRMR icon
21
Larimar Therapeutics
LRMR
$398M
$61.4M 1.11%
21,231,974
– –
BAX icon
22
Baxter International
BAX
$13.2B
$58.2M 1.06%
1,923,100
– –
BIO icon
23
Bio-Rad Laboratories Class A
BIO
$10.4B
$54.6M 0.99%
226,070
– –
IRON icon
24
Disc Medicine
IRON
$3.05B
$48.7M 0.88%
919,403
+137,070
+18% +$6.44M
ALNY icon
25
Alnylam Pharmaceuticals
ALNY
$35.4B
$47.3M 0.86%
145,000
– –
1
2 3 4 5

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OAM
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BTI
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WAM
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MSE
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VF
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GGHC
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A
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Edgewood Management
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Deerfield Management's Q2 2025 Portfolio in Review

As of Q2 2025, Deerfield Management held 167 positions worth $5.51B, up 8.8% from $5.06B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Deerfield Management withdrew a net $317M in Q2 2025, closing 43 positions and reducing 13 holdings. Its most notable exit was Dynavax Technologies, an estimated $67.3M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 89% of assets, up from 87% a quarter earlier, followed by Miscellaneous and Real Estate.

Against the trend, Deerfield Management opened a new position in Merck worth $67.9M.

  • Deerfield Management's largest Q2 2025 buy was Merck: 857,724 shares worth $67.9M.
  • Deerfield Management added most to United Therapeutics in Q2 2025, an estimated $79.3M increase.
  • Deerfield Management's biggest Q2 2025 reduction was Alignment Healthcare, cutting an estimated $68M.
  • Deerfield Management fully exited Dynavax Technologies in Q2 2025, selling an estimated $67.3M.
  • Deerfield Management's ten largest holdings make up 54% of its $5.51B portfolio in Q2 2025.
  • Deerfield Management opened 43 new positions and closed 43 in Q2 2025.
  • Deerfield Management's portfolio value rose 8.8% quarter-over-quarter to $5.51B.

Based on Deerfield Management's 13F filing for Q2 2025, filed 14 Aug 2025.