DEERFIELD MANAGEMENT COMPANY, L.P.
Filing Date
Global Rank
#516
/ 8,623
▲ 36
· as of Mar 2026
Top Industry
Biotechnology
70.9%
3Y Alpha vs SPY
+6.7%
Period ended 4 months ago
Filed May 15, 2026 · 3mo
25 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Cloned portfolio
+97.1%
SPY
+67.9%
Annualised alpha
+6.5%
Max drawdown
−37.2%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.
Portfolio Concentration
69 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
24.6%
−1.1 pts
Top 5
41.4%
−0.7 pts
Top 10
54.4%
−2.2 pts
HHI
769
Diversified−55
Portfolio Trend
25 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 100.0% | $7,174,432,882 |
| Industrials | 0.0% | $492,795 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
15 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| LRMR | Larimar Therapeutics, Inc. | +5,000,000 | 35,606,974 | $160,231,383 | |
| LEGN | Legend Biotech Corp | +1,755,638 | 7,687,638 | $139,069,371 | |
| TNGX | Tango Therapeutics, Inc. | +1,239,867 | 4,146,813 | $86,751,327 | |
| INSP | Inspire Medical Systems, Inc. | +1,197,366 | 2,703,238 | $139,433,016 | |
| XENE | Xenon Pharmaceuticals Inc. | +1,073,676 | 1,615,696 | $93,952,722 | |
| FHTX | Foghorn Therapeutics Inc. | +745,156 | 4,394,367 | $21,005,074 | |
| BCRX | Biocryst Pharmaceuticals Inc | +697,000 | 15,038,000 | $143,161,760 | |
| BBNX | Beta Bionics, Inc. | +385,692 | 1,324,000 | $13,266,480 | |
| MNPR | Monopar Therapeutics | +153,187 | 323,745 | $17,737,988 | |
| IRON | Disc Medicine, Inc. | +145,837 | 657,000 | $42,008,580 | |
| NAMS | NewAmsterdam Pharma Co N.V. | +100,000 | 4,264,789 | $136,515,895 | |
| BLTE | Belite Bio, Inc | +70,200 | 304,013 | $48,471,832 | |
| PRAX | Praxis Precision Medicines, Inc. | +60,000 | 963,351 | $310,382,058 | |
| UTHR | UNITED THERAPEUTICS Corp | +31,007 | 457,000 | $270,991,860 | |
| PHGE | BiomX Inc. | +2 | 131,272 | $492,795 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
9 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| CPRX | Catalyst Pharmaceuticals, Inc. | −967,561 | 3,943,600 | $97,643,536 | |
| IDYA | IDEAYA Biosciences, Inc. | −623,035 | 1,530,008 | $50,979,866 | |
| RVMD | Revolution Medicines, Inc. | −597,613 | 2,297,000 | $223,383,250 | |
| NBIX | Neurocrine Biosciences Inc | −574,345 | 610,000 | $80,361,400 | |
| CNC | Centene Corp | −530,907 | 5,917,091 | $193,725,559 | |
| VERA | Vera Therapeutics, Inc. | −337,595 | 3,722,100 | $149,740,083 | |
| ARWR | Arrowhead Pharmaceuticals, Inc. | −259,649 | 1,573,297 | $98,645,721 | |
| EMBC | Embecta Corp. | −217,070 | 2,534,961 | $22,409,055 | |
| NVST | Envista Holdings Corp | −70,398 | 2,210,100 | $56,070,237 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
10 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| INDV | Indivior Pharmaceuticals, Inc. | 3,097,790 | $94,420,639 | |
| SNDX | Syndax Pharmaceuticals Inc | 3,779,900 | $88,298,464 | |
| DNTH | Dianthus Therapeutics, Inc. /DE/ | 1,019,813 | $85,582,706 | |
| PFE | Pfizer Inc | 3,040,000 | $85,363,200 | |
| GMAB | Genmab A/S | 2,462,000 | $66,055,460 | |
| BMRN | Biomarin Pharmaceutical Inc | 851,556 | $48,104,398 | |
| TYRA | Tyra Biosciences, Inc. | 549,000 | $21,026,700 | |
| DRUG | Bright Minds Biosciences Inc. | 283,000 | $20,650,510 | |
| SGP | SpyGlass Pharma, Inc. | 550,000 | $14,250,500 | |
| MANE | Veradermics, Inc | 5,000 | $315,750 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
25 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| PHR | Phreesia, Inc. | 1,999,045 | $33,823,841 | |
| MRNA | Moderna, Inc. | 1,000,000 | $29,490,000 | |
| VTR | Ventas, Inc. | 354,000 | $27,392,520 | |
| SYRE | Spyre Therapeutics, Inc. | 710,626 | $23,280,107 | |
| EWTX | Edgewise Therapeutics, Inc. | 765,694 | $19,000,696 | |
| CRMD | CorMedix Inc. | 1,107,944 | $12,885,388 | |
| MDLN | Medline Inc. | 260,000 | $10,920,000 | |
| OMDA | Omada Health, Inc. | 553,107 | $8,728,028 | |
| CALC | CalciMedica, Inc. | 1,300,000 | $8,567,000 | |
| PBH | Prestige Consumer Healthcare Inc. | 69,669 | $4,297,880 | |
| VEEV | Veeva Systems Inc | 17,711 | $3,953,626 | |
| RDNT | RadNet, Inc. | 49,951 | $3,564,003 | |
| LH | Labcorp Holdings Inc. | 13,825 | $3,468,416 | |
| ENOV | Enovis CORP | 127,270 | $3,390,472 | |
| ALHC | Alignment Healthcare, Inc. | 164,345 | $3,245,813 | |
| DGX | Quest Diagnostics Inc | 18,392 | $3,191,563 | |
| TMDX | TransMedics Group, Inc. | 25,492 | $3,101,101 | |
| PODD | Insulet Corp | 10,616 | $3,017,491 | |
| BLFS | Biolife Solutions Inc | 120,211 | $2,906,701 | |
| CHE | Chemed Corp | 6,215 | $2,659,149 | |
| WOOF | Petco Health & Wellness Company, Inc. | 936,309 | $2,631,028 | |
| KIDS | Orthopediatrics Corp | 144,220 | $2,561,347 | |
| CI | Cigna Group | 9,203 | $2,532,941 | |
| TRUP | Trupanion, Inc. | 66,438 | $2,482,788 | |
| RMD | Resmed Inc | 10,104 | $2,433,750 | |
| No positions match the current search. | ||||
69 tracked positions ·
$7,174,925,677 total
· filing declares
82 positions · $8,476,379,716
· as of Mar 31, 2026
Showing 1–50
of 69 positions by value
· page 1 of 2
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| NUVL |
Nuvalent, Inc.
Healthcare
|
Held | 17,248,450 | $1,767,103,702 | 24.63% | |
| COGT |
Cogent Biosciences, Inc.
Healthcare
|
Held | 9,043,903 | $348,099,826 | 4.85% | |
| PRAX |
Praxis Precision Medicines, Inc.
Healthcare
|
Added | 963,351 | $310,382,058 | 4.33% | |
| VTRS |
Viatris Inc
Healthcare
|
Held | 20,206,170 | $272,985,356 | 3.80% | |
| UTHR |
UNITED THERAPEUTICS Corp
Healthcare
|
Added | 457,000 | $270,991,860 | 3.78% | |
| RVMD |
Revolution Medicines, Inc.
Healthcare
|
Reduced | 2,297,000 | $223,383,250 | 3.11% | |
| CELC |
Celcuity Inc.
Healthcare
|
Held | 1,714,000 | $195,635,960 | 2.73% | |
| CNC |
Centene Corp
Healthcare
|
Reduced | 5,917,091 | $193,725,559 | 2.70% | |
| LRMR |
Larimar Therapeutics, Inc.
Healthcare
|
Added | 35,606,974 | $160,231,383 | 2.23% | |
| BKD |
Brookdale Senior Living Inc.
Healthcare
|
Held | 11,637,032 | $159,194,597 | 2.22% | |
| VERA |
Vera Therapeutics, Inc.
Healthcare
|
Reduced | 3,722,100 | $149,740,083 | 2.09% | |
| IONS |
Ionis Pharmaceuticals Inc
Healthcare
|
Held | 1,979,669 | $148,653,345 | 2.07% | |
| BCRX |
Biocryst Pharmaceuticals Inc
Healthcare
|
Added | 15,038,000 | $143,161,760 | 2.00% | |
| INSP |
Inspire Medical Systems, Inc.
Healthcare
|
Added | 2,703,238 | $139,433,016 | 1.94% | |
| LEGN |
Legend Biotech Corp
Healthcare
|
Added | 7,687,638 | $139,069,371 | 1.94% | |
| AHCO |
AdaptHealth Corp.
Healthcare
|
Held | 11,477,730 | $136,584,987 | 1.90% | |
| NAMS |
NewAmsterdam Pharma Co N.V.
Healthcare
|
Added | 4,264,789 | $136,515,895 | 1.90% | |
| ACHC |
Acadia Healthcare Company, Inc.
Healthcare
|
Held | 4,520,000 | $105,722,800 | 1.47% | |
| ARWR |
Arrowhead Pharmaceuticals, Inc.
Healthcare
|
Reduced | 1,573,297 | $98,645,721 | 1.37% | |
| CPRX |
Catalyst Pharmaceuticals, Inc.
Healthcare
|
Reduced | 3,943,600 | $97,643,536 | 1.36% | |
| INDV |
Indivior Pharmaceuticals, Inc.
Healthcare
|
NEW | 3,097,790 | $94,420,639 | 1.32% | |
| XENE |
Xenon Pharmaceuticals Inc.
Healthcare
|
Added | 1,615,696 | $93,952,722 | 1.31% | |
| PHVS |
Pharvaris N.V.
Healthcare
|
Held | 3,126,042 | $88,310,686 | 1.23% | |
| SNDX |
Syndax Pharmaceuticals Inc
Healthcare
|
NEW | 3,779,900 | $88,298,464 | 1.23% | |
| TNGX |
Tango Therapeutics, Inc.
Healthcare
|
Added | 4,146,813 | $86,751,327 | 1.21% | |
| DNTH |
Dianthus Therapeutics, Inc. /DE/
Healthcare
|
NEW | 1,019,813 | $85,582,706 | 1.19% | |
| PFE |
Pfizer Inc
Healthcare
|
NEW | 3,040,000 | $85,363,200 | 1.19% | |
| NBIX |
Neurocrine Biosciences Inc
Healthcare
|
Reduced | 610,000 | $80,361,400 | 1.12% | |
| DAWN |
Day One Biopharmaceuticals, Inc.
Healthcare
|
Held | 3,723,131 | $79,823,928 | 1.11% | |
| SVRA |
Savara Inc
Healthcare
|
Held | 13,569,000 | $74,086,740 | 1.03% | |
| EHAB |
Enhabit, Inc.
Healthcare
|
Held | 4,747,746 | $66,895,741 | 0.93% | |
| GMAB |
Genmab A/S
Healthcare
|
NEW | 2,462,000 | $66,055,460 | 0.92% | |
| BIO |
Bio-Rad Laboratories, Inc.
Healthcare
|
Held | 226,070 | $63,017,012 | 0.88% | |
| LNTH |
Lantheus Holdings, Inc.
Healthcare
|
Held | 827,999 | $62,803,724 | 0.88% | |
| SPRY |
ARS Pharmaceuticals, Inc.
Healthcare
|
Held | 7,503,812 | $60,255,610 | 0.84% | |
| STOK |
Stoke Therapeutics, Inc.
Healthcare
|
Held | 1,823,500 | $59,373,160 | 0.83% | |
| NVST |
Envista Holdings Corp
Healthcare
|
Reduced | 2,210,100 | $56,070,237 | 0.78% | |
| IDYA |
IDEAYA Biosciences, Inc.
Healthcare
|
Reduced | 1,530,008 | $50,979,866 | 0.71% | |
| BLTE |
Belite Bio, Inc
Healthcare
|
Added | 304,013 | $48,471,832 | 0.68% | |
| BMRN |
Biomarin Pharmaceutical Inc
Healthcare
|
NEW | 851,556 | $48,104,398 | 0.67% | |
| KYMR |
Kymera Therapeutics, Inc.
Healthcare
|
Held | 561,170 | $46,739,849 | 0.65% | |
| CERT |
Certara, Inc.
Healthcare
|
Held | 7,808,605 | $44,509,048 | 0.62% | |
| BBOT |
BridgeBio Oncology Therapeutics, Inc.
Healthcare
|
Held | 4,885,446 | $43,724,741 | 0.61% | |
| IRON |
Disc Medicine, Inc.
Healthcare
|
Added | 657,000 | $42,008,580 | 0.59% | |
| SION |
Sionna Therapeutics, Inc.
Healthcare
|
Held | 970,590 | $38,910,953 | 0.54% | |
| CDNA |
CareDx, Inc.
Healthcare
|
Held | 2,191,000 | $38,035,760 | 0.53% | |
| GPCR |
Structure Therapeutics Inc.
Healthcare
|
Held | 767,993 | $37,017,262 | 0.52% | |
| VCYT |
Veracyte, Inc.
Healthcare
|
Held | 726,000 | $23,384,460 | 0.33% | |
| ALNY |
Alnylam Pharmaceuticals, Inc.
Healthcare
|
Held | 67,935 | $22,477,653 | 0.31% | |
| EMBC |
Embecta Corp.
Healthcare
|
Reduced | 2,534,961 | $22,409,055 | 0.31% |
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.