DEERFIELD MANAGEMENT COMPANY, L.P.

Registered adviser

CIK

1009258

Location

NEW YORK, NY

Portfolio Value

Mid $8,031,282,704

Diversification

Diversified

Reports for

Deerfield UGP, LLC

Filing Date

Global Rank

#629 / 8,818 ▼ 25

Top Industry

Biotechnology 73.4%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 157876

Roster of Oct 1, 2026

Regulatory AUM

$19,084,042,235

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

12 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$19,205,945,116 gross assets

LEI

5493009YAY9MTF1EQS20

Private funds on Schedule D 7.B.(1)

As filed Mar 28, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$16,117,395,448 gross assets in 11 funds Hedge funds $16,095,589,956 (10) Private equity funds $21,805,492 (1)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Aug 2026 to Oct 2026	$19,084,042,235	Pooled investment vehicles (100%)
Apr 2026 to Jul 2026	$19,084,042,235	Pooled investment vehicles (100%)
Apr 2025 to Mar 2026	$16,051,603,884	Pooled investment vehicles (100%)
Apr 2024 to Mar 2025	$16,117,395,447	Pooled investment vehicles (100%)
Mar 2024	$15,060,203,700	Pooled investment vehicles (100%)
May 2023 to Feb 2024	$15,060,203,700	Pooled investment vehicles (100%)

5 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

11.5 effective positions (12 or fewer)

Turnover

Medium turnover

51.9% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 13.6 quarters (12+), a floor since 13.3% of the book was already held when coverage starts

Closest benchmark: the Russell 2000 as of 2026-06-30, active share 97.2%; sector active share 90.9% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

72 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

26.5%

+1.9 pts

Top 5

44.0%

+2.7 pts

Top 10

57.1%

+2.8 pts

HHI

869

Diversified+100

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$8,031,282,704	72

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

13 positions

Ticker	Company	Δ Shares	Shares	Value
GMAB	Genmab A/S	+4,403,000	6,865,000	$188,581,550
IDYA	IDEAYA Biosciences, Inc.	+1,184,495	2,714,503	$101,169,526
BMRN	Biomarin Pharmaceutical Inc	+481,280	1,332,836	$76,264,875
TYRA	Tyra Biosciences, Inc.	+468,000	1,017,000	$32,482,980
LEGN	Legend Biotech Corp	+450,000	8,137,638	$235,014,985
GPCR	Structure Therapeutics Inc.	+318,007	1,086,000	$58,285,620
PHVS	Pharvaris N.V.	+250,000	3,376,042	$116,743,532
VERA	Vera Therapeutics, Inc.	+194,300	3,916,400	$168,052,724
DNTH	Dianthus Therapeutics, Inc.	+105,500	1,125,313	$109,695,511
RVMD	Revolution Medicines, Inc.	+95,000	2,392,000	$447,973,760
BCRX	Biocryst Pharmaceuticals Inc	+58,403	15,096,403	$150,964,030
BLTE	Belite Bio, Inc	+53,186	357,199	$55,003,288
TNGX	Tango Therapeutics, Inc.	+43,798	4,190,611	$130,998,499
No positions match the current search.

Trimmed

Positions the filer reduced

11 positions

Ticker	Company	Δ Shares	Shares	Value
COGT	Cogent Biosciences, Inc.	−4,037,799	5,006,104	$193,736,224
INDV	Indivior Pharmaceuticals, Inc.	−1,448,895	1,648,895	$67,654,161
INSP	Inspire Medical Systems, Inc.	−1,406,376	1,296,862	$57,853,013
CNC	Centene Corp	−1,016,091	4,901,000	$314,595,190
VCYT	Veracyte, Inc.	−625,000	101,000	$5,931,730
CERT	Certara, Inc.	−295,677	7,512,928	$49,209,678
SION	Sionna Therapeutics, Inc.	−289,674	680,916	$29,953,494
CELC	Celcuity Inc.	−262,986	1,451,014	$151,805,084
CDNA	CareDx, Inc.	−193,382	1,997,618	$56,932,113
ARWR	Arrowhead Pharmaceuticals, Inc.	−184,242	1,389,055	$113,221,873
LNTH	Lantheus Holdings, Inc.	−75,000	752,999	$83,537,709
No positions match the current search.

New Positions

Positions the filer opened this quarter

11 positions

Ticker	Company	Shares	Value
MLYS	Mineralys Therapeutics, Inc.	3,958,000	$106,786,840
BSX	Boston Scientific Corp	1,315,000	$56,124,200
PBLS	Parabilis Medicines, Inc.	1,880,704	$51,474,868
AVLN	Avalyn Pharma Inc.	731,000	$24,064,520
ODTX	Odyssey Therapeutics, Inc.	1,046,139	$19,573,260
ALMR	Alamar Biosciences, Inc.	600,000	$16,254,000
CHE	Chemed Corp	30,000	$13,972,200
ADAG	Adagene Inc.	2,666,666	$11,199,997
COAG	Hemab Therapeutics Holdings, Inc.	275,000	$10,100,750
MOBI	Mobia Medical, Inc.	670,752	$8,988,076
MIRM	Mirum Pharmaceuticals, Inc.	6,027	$705,580
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
—		3,943,600	$97,643,536
NBIX	Neurocrine Biosciences Inc	610,000	$80,361,400
—		3,723,131	$79,823,929
—		4,747,746	$66,895,741
KYMR	Kymera Therapeutics, Inc.	561,170	$46,739,849
CMPX	Compass Therapeutics, Inc.	3,606,000	$19,075,740
TSHA	Taysha Gene Therapies, Inc.	2,722,165	$12,168,077
CGEM	Cullinan Therapeutics, Inc.	386,169	$5,487,461
HLSQ	Tessera Defense & Homeland Security Inc.	131,272	$492,795
MANE	Veradermics, Inc	5,000	$315,750
MYGN	Myriad Genetics Inc	505	$2,272
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

72 tracked positions · $8,031,282,704 total · filing declares 82 positions · $9,586,027,944 · as of Jun 30, 2026

All sectors Healthcare

Showing 1–50 of 72 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
		Held	17,248,450	0	$2,130,183,575	+20.5%	20	unpriced	26.52%
RVMD	Revolution Medicines, Inc. Healthcare	Added	2,392,000	+95,000	$447,973,760	+100.5%	26+	before history	5.58%
PRAX	Praxis Precision Medicines, Inc. Healthcare	Held	963,351	0	$322,520,281	+3.9%	6	$81.93	4.02%
VTRS	Viatris Inc Healthcare	Held	20,206,170	0	$320,873,979	+17.5%	23	$13.07	4.00%
CNC	Centene Corp Healthcare	Reduced	4,901,000	-1,016,091	$314,595,190	+62.4%	26+	before history	3.92%
UTHR	UNITED THERAPEUTICS Corp Healthcare	Held	457,000	0	$247,616,310	−8.6%	6	$333.18	3.08%
LEGN	Legend Biotech Corp Healthcare	Added	8,137,638	+450,000	$235,014,985	+69.0%	7	$29.66	2.93%
COGT	Cogent Biosciences, Inc. Healthcare	Reduced	5,006,104	-4,037,799	$193,736,224	−44.3%	23	unpriced	2.41%
GMAB	Genmab A/S Healthcare	Added	6,865,000	+4,403,000	$188,581,550	+185.5%	2	$27.79	2.35%
BKD	Brookdale Senior Living Inc. Healthcare	Held	11,637,032	0	$187,239,844	+17.6%	26+	before history	2.33%
VERA	Vera Therapeutics, Inc. Healthcare	Added	3,916,400	+194,300	$168,052,724	+12.2%	6	$26.91	2.09%
IONS	Ionis Pharmaceuticals Inc Healthcare	Held	1,979,669	0	$156,967,955	+5.6%	4	$48.82	1.95%
CELC	Celcuity Inc. Healthcare	Reduced	1,451,014	-262,986	$151,805,084	−22.4%	4	$64.15	1.89%
BCRX	Biocryst Pharmaceuticals Inc Healthcare	Added	15,096,403	+58,403	$150,964,030	+5.4%	14	$7.62	1.88%
NAMS	NewAmsterdam Pharma Co N.V. Healthcare	Held	4,264,789	0	$144,533,699	+5.9%	10	$20.75	1.80%
ACHC	Acadia Healthcare Company, Inc. Healthcare	Held	4,520,000	0	$133,475,600	+26.3%	4	$19.81	1.66%
TNGX	Tango Therapeutics, Inc. Healthcare	Added	4,190,611	+43,798	$130,998,499	+51.0%	3	$10.35	1.63%
AHCO	AdaptHealth Corp. Healthcare	Held	11,477,730	0	$119,597,946	−12.4%	26+	before history	1.49%
PHVS	Pharvaris N.V. Healthcare	Added	3,376,042	+250,000	$116,743,532	+32.2%	11	$22.11	1.45%
ARWR	Arrowhead Pharmaceuticals, Inc. Healthcare	Reduced	1,389,055	-184,242	$113,221,873	+14.8%	4	$34.37	1.41%
DNTH	Dianthus Therapeutics, Inc. Healthcare	Added	1,125,313	+105,500	$109,695,511	+28.2%	2	$60.67	1.37%
LRMR	Larimar Therapeutics, Inc. Healthcare	Held	35,606,974	0	$108,601,270	−32.2%	25	$5.17	1.35%
MLYS	Mineralys Therapeutics, Inc. Healthcare	NEW	3,958,000	NEW	$106,786,840	NEW	1	$27.44	1.33%
IDYA	IDEAYA Biosciences, Inc. Healthcare	Added	2,714,503	+1,184,495	$101,169,526	+98.4%	16	$25.15	1.26%
XENE	Xenon Pharmaceuticals Inc. Healthcare	Held	1,615,696	0	$97,523,410	+3.8%	5	$41.56	1.21%
SVRA	Savara Inc Healthcare	Held	13,569,000	0	$83,585,040	+12.8%	8	$4.51	1.04%
LNTH	Lantheus Holdings, Inc. Healthcare	Reduced	752,999	-75,000	$83,537,709	+33.0%	3	$58.19	1.04%
SNDX	Syndax Pharmaceuticals Inc Healthcare	Held	3,779,900	0	$82,628,614	−6.4%	2	$21.73	1.03%
BMRN	Biomarin Pharmaceutical Inc Healthcare	Added	1,332,836	+481,280	$76,264,875	+58.5%	2	$57.03	0.95%
PFE	Pfizer Inc Healthcare	Held	3,040,000	0	$73,203,200	−14.2%	2	$26.62	0.91%
INDV	Indivior Pharmaceuticals, Inc. Healthcare	Reduced	1,648,895	-1,448,895	$67,654,161	−28.3%	2	$33.03	0.84%
BIO	Bio-Rad Laboratories, Inc. Healthcare	Held	226,070	0	$66,376,412	+5.3%	12	$357.63	0.83%
SPRY	ARS Pharmaceuticals, Inc. Healthcare	Held	7,503,812	0	$60,105,534	−0.2%	15	$6.49	0.75%
STOK	Stoke Therapeutics, Inc. Healthcare	Held	1,823,500	0	$59,664,920	+0.5%	3	$30.06	0.74%
GPCR	Structure Therapeutics Inc. Healthcare	Added	1,086,000	+318,007	$58,285,620	+57.5%	14	$39.75	0.73%
NVST	Envista Holdings Corp Healthcare	Held	2,210,100	0	$58,236,135	+3.9%	8	$19.44	0.73%
INSP	Inspire Medical Systems, Inc. Healthcare	Reduced	1,296,862	-1,406,376	$57,853,013	−58.5%	5	$88.73	0.72%
CDNA	CareDx, Inc. Healthcare	Reduced	1,997,618	-193,382	$56,932,113	+49.7%	4	$14.26	0.71%
BSX	Boston Scientific Corp Healthcare	NEW	1,315,000	NEW	$56,124,200	NEW	1	$54.30	0.70%
BLTE	Belite Bio, Inc Healthcare	Added	357,199	+53,186	$55,003,288	+13.5%	3	$133.40	0.68%
PBLS	Parabilis Medicines, Inc. Healthcare	NEW	1,880,704	NEW	$51,474,868	NEW	1	unpriced	0.64%
CERT	Certara, Inc. Healthcare	Reduced	7,512,928	-295,677	$49,209,678	+10.6%	6	$11.38	0.61%
IRON	Disc Medicine, Inc. Healthcare	Held	657,000	0	$48,052,980	+14.4%	13	$50.37	0.60%
BBOT	BridgeBio Oncology Therapeutics, Inc. Healthcare	Held	4,885,446	0	$37,227,098	−14.9%	4	$10.42	0.46%
TYRA	Tyra Biosciences, Inc. Healthcare	Added	1,017,000	+468,000	$32,482,980	+54.5%	2	$32.70	0.40%
MNPR	Monopar Therapeutics Healthcare	Held	323,745	0	$29,975,549	+69.0%	4	$53.36	0.37%
SION	Sionna Therapeutics, Inc. Healthcare	Reduced	680,916	-289,674	$29,953,494	−23.0%	6	$15.59	0.37%
AVLN	Avalyn Pharma Inc. Healthcare	NEW	731,000	NEW	$24,064,520	NEW	1	$28.86	0.30%
FHTX	Foghorn Therapeutics Inc. Healthcare	Held	4,394,367	0	$21,444,510	+2.1%	9	$5.97	0.27%
BBNX	Beta Bionics, Inc. Healthcare	Held	1,324,000	0	$20,747,080	+56.4%	6	$17.11	0.26%

Showing the top 50 of 72 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.