DEERFIELD MANAGEMENT COMPANY, L.P.
Filing Date
Global Rank
#514
/ 8,605
▲ 37
· as of Mar 2026
Top Industry
Biotechnology
70.9%
3Y Alpha vs SPY
+10.5%
Period ended 3 months ago
Filed May 15, 2026 · 55d
25 quarters · since Mar 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+126.7%
SPY
+76.5%
Annualised alpha
+10.5%
Max drawdown
−37.2%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
69 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 positions ·
$7,174,925,677 total
· 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% |