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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
+19.63%
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
$6.55B
AUM Growth
+$1.04B
Cap. Flow
+$118M
Cap. Flow %
1.81%
Top 10 Hldgs %
51.69%
Holding
171
New
48
Increased
43
Reduced
20
Closed
19

Top Buys

Rank Stock Value
1
CNC icon
Centene
CNC
+$177M
2
BMY icon
Bristol-Myers Squibb
BMY
+$109M
3
IONS icon
Ionis Pharmaceuticals
IONS
+$96.7M
4
INSP icon
Inspire Medical Systems
INSP
+$91.9M
5
COGT icon
Cogent Biosciences
COGT
+$76M

Top Sells

Rank Stock Value
1
OSCR icon
Oscar Health
OSCR
+$250M
2
INDV icon
Indivior Pharmaceuticals
INDV
+$74.9M
3
BAX icon
Baxter International
BAX
+$47.7M
4
IDYA icon
IDEAYA Biosciences
IDYA
+$42.6M
5
UTHR icon
United Therapeutics
UTHR
+$38.6M

Sector Composition

Rank Sector Weight
1 Healthcare 91.55%
2 Real Estate 0.38%
3 Financials 0.07%
4 Consumer Staples 0.07%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NUVL
1
DELISTED
Nuvalent
NUVL
$1.56B 23.75%
17,991,024
– –
CNC icon
2
Centene
CNC
$32.8B
$323M 4.93%
9,046,000
+5,860,630
+184% +$177M
MRUS
3
DELISTED
Merus
MRUS
$287M 4.38%
3,046,916
-337,712
-10% -$22M
VTRS icon
4
Viatris
VTRS
$20.1B
$239M 3.64%
24,099,083
+75,176
+0.3% +$732K
UTHR icon
5
United Therapeutics
UTHR
$22.7B
$179M 2.73%
425,993
-114,633
-21% -$38.6M
RVMD icon
6
Revolution Medicines
RVMD
$39.6B
$170M 2.6%
3,650,342
+266,270
+8% +$10.4M
INDV icon
7
Indivior Pharmaceuticals
INDV
$4.79B
$168M 2.57%
6,986,811
-3,580,349
-34% -$74.9M
NBIX icon
8
Neurocrine Biosciences
NBIX
$17.2B
$166M 2.54%
1,184,345
+16,543
+1% +$2.24M
COGT icon
9
Cogent Biosciences
COGT
$6.68B
$130M 1.98%
9,053,118
+6,412,903
+243% +$76M
IONS icon
10
Ionis Pharmaceuticals
IONS
$8.99B
$130M 1.98%
+1,979,669
New +$96.7M
NAMS icon
11
NewAmsterdam Pharma
NAMS
$3.7B
$121M 1.85%
4,266,693
-849,260
-17% -$20.4M
VERA icon
12
Vera Therapeutics
VERA
$2.76B
$106M 1.62%
3,641,157
+293,040
+9% +$6.78M
BMY icon
13
Bristol-Myers Squibb
BMY
$124B
$105M 1.61%
+2,337,771
New +$109M
AHCO icon
14
AdaptHealth
AHCO
$1.49B
$103M 1.57%
11,477,730
+1,572,835
+16% +$14.6M
LRMR icon
15
Larimar Therapeutics
LRMR
$384M
$98.9M 1.51%
30,606,974
+9,375,000
+44% +$35.2M
BKD icon
16
Brookdale Senior Living
BKD
$3.58B
$98.6M 1.51%
11,641,642
-3,720,622
-24% -$28.4M
CPRX
17
DELISTED
Catalyst Pharmaceutical
CPRX
$98M 1.5%
4,974,767
+2,095,291
+73% +$43.1M
LEGN icon
18
Legend Biotech
LEGN
$4.31B
$96.6M 1.47%
2,962,338
– –
BCRX icon
19
BioCryst Pharmaceuticals
BCRX
$2.36B
$92.4M 1.41%
12,169,000
+7,477,000
+159% +$62.3M
MRK icon
20
Merck
MRK
$315B
$86.4M 1.32%
1,030,000
+172,276
+20% +$14.2M
PFE icon
21
Pfizer
PFE
$143B
$84.2M 1.29%
3,303,790
-1,002,474
-23% -$24.7M
CERT icon
22
Certara
CERT
$1.08B
$82.4M 1.26%
6,739,537
+2,813,438
+72% +$30.8M
INSP icon
23
Inspire Medical Systems
INSP
$1.46B
$77.7M 1.19%
1,047,694
+907,694
+648% +$91.9M
SPRY icon
24
ARS Pharmaceuticals
SPRY
$695M
$75.4M 1.15%
7,503,812
-2,220,696
-23% -$31.9M
INSM icon
25
Insmed
INSM
$23.5B
$67.8M 1.04%
471,000
-229,700
-33% -$28.1M
1
2 3 4 5

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Deerfield Management's Q3 2025 Portfolio in Review

As of Q3 2025, Deerfield Management held 171 positions worth $6.55B, up 19% from $5.51B the previous quarter. Its ten largest holdings account for 52% of the portfolio.

Deerfield Management's Q3 2025 filing shows 48 new, 43 increased, 20 reduced and 19 closed positions. Its largest new stake was Bristol-Myers Squibb: 2,337,771 shares worth $105M. The largest sale was Oscar Health, an estimated $250M.

By sector, the portfolio is most concentrated in Healthcare at 92% of assets, up from 89% a quarter earlier, followed by Real Estate and Financials.

  • Deerfield Management's largest Q3 2025 buy was Bristol-Myers Squibb: 2,337,771 shares worth $105M.
  • Deerfield Management added most to Centene in Q3 2025, an estimated $177M increase.
  • Deerfield Management's biggest Q3 2025 reduction was Indivior Pharmaceuticals, cutting an estimated $74.9M.
  • Deerfield Management fully exited Oscar Health in Q3 2025, selling an estimated $250M.
  • Deerfield Management's ten largest holdings make up 52% of its $6.55B portfolio in Q3 2025.
  • Deerfield Management opened 48 new positions and closed 19 in Q3 2025.
  • Deerfield Management's portfolio value rose 19% quarter-over-quarter to $6.55B.

Based on Deerfield Management's 13F filing for Q3 2025, filed 14 Nov 2025.