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Asset Manager ← All Institutions

DEERFIELD MANAGEMENT COMPANY, L.P.

Q3 2025 · Filed 2025-11-14
Market Value
$5.7B
+22.1%
Holdings
156
+3
New Purchases
45
Added To
42
Closed
19
Reduced
18
Top 10 Concentration
57.9%
Turnover
41.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
IONS 2.28% 0.00% +2.28% $130M
CNC 5.69% 3.72% +1.97% $323M
COGT 2.29% 0.41% +1.88% $130M
BMY 1.86% 0.00% +1.86% $105M
MRUS 5.05% 3.83% +1.23% $287M
BBOT 1.00% 0.00% +1.00% $57M
INSP 1.37% 0.39% +0.98% $78M
BCRX 1.63% 0.90% +0.72% $92M
CRMD 0.68% 0.00% +0.68% $39M
CELC 0.64% 0.00% +0.64% $36M
ARWR 0.60% 0.00% +0.60% $34M
CDNA 0.56% 0.00% +0.56% $32M
ACHC 0.52% 0.00% +0.52% $29M
CERT 1.45% 0.99% +0.46% $82M
LRMR 1.74% 1.32% +0.42% $99M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
OSCR 0.00% 5.37% -5.37% $0
SPRY 1.33% 3.65% -2.32% $75M
NUVL 27.41% 29.52% -2.11% $1.6B
BAX 0.02% 1.25% -1.23% $973K
PFE 1.48% 2.24% -0.76% $84M
IDYA 1.03% 1.77% -0.74% $59M
MRNA 0.00% 0.59% -0.59% $0
BKD 1.74% 2.30% -0.56% $99M
LEGN 1.70% 2.26% -0.56% $97M
ALNY 0.55% 1.02% -0.47% $31M
LQDA 0.00% 0.43% -0.43% $0
VTRS 4.20% 4.61% -0.41% $239M
MREO 0.00% 0.39% -0.39% $0
EWTX 0.22% 0.58% -0.36% $12M
INSM 1.19% 1.52% -0.32% $68M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 1 $86M 1.5%
Large Cap 38 $1.6B 28.0%
Mid Cap 55 $2.9B 50.4%
Small Cap 44 $940M 16.6%
Micro Cap 18 $201M 3.5%

Portfolio Analytics

Avg Market Cap
$14.3B
Median Market Cap
$3.0B
Avg P/E
40.6
Median P/E
26.9
Avg Dividend Yield
0.00%
Avg Beta
1.03
# Stocks
156
# ETFs / Funds
0

Top Holdings (156 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NUVL 27.41% 17,991,024 $1.6B $86.48 $183M
2 CNC 5.69% 9,046,000 $323M $35.68 $150M +5,860,630 +184.0%
3 MRUS 5.05% 3,046,916 $287M $94.15 $109M -337,712 -10.0%
4 VTRS 4.20% 24,099,083 $239M $9.90 $24M +75,176 +0.3%
5 UTHR 3.15% 425,993 $179M $419.21 $23M -114,633 -21.2%
6 RVMD 3.00% 3,650,342 $170M $46.70 $46M +266,270 +7.9%
7 NBIX 2.93% 1,184,345 $166M $140.38 $19M +16,543 +1.4%
8 COGT 2.29% 9,053,118 $130M $14.36 $111M +6,412,903 +242.9%
9 IONS 2.28% 1,979,669 $130M $65.42 +1,979,669 NEW
10 VERA 1.86% 3,641,157 $106M $29.06 $27M +293,040 +8.8%
11 BMY 1.86% 2,337,771 $105M $45.10 +2,337,771 NEW
12 AHCO 1.81% 11,477,730 $103M $8.95 $9M +1,572,835 +15.9%
13 LRMR 1.74% 30,606,974 $99M $3.23 $38M +9,375,000 +44.2%
14 BKD 1.74% 11,641,642 $99M $8.47 -$8M -3,720,622 -24.2%
15 CPRX 1.73% 4,974,767 $98M $19.70 $36M +2,095,291 +72.8%
16 LEGN 1.70% 2,962,338 $97M $32.61 -$9M
17 BCRX 1.63% 12,169,000 $92M $7.59 $50M +7,477,000 +159.4%
18 MRK 1.52% 1,030,000 $86M $83.93 $19M +172,276 +20.1%
19 PFE 1.48% 3,303,790 $84M $25.48 -$20M -1,002,474 -23.3%
20 CERT 1.45% 6,739,537 $82M $12.22 $36M +2,813,438 +71.7%
21 INSP 1.37% 1,047,694 $78M $74.20 $60M +907,694 +648.4%
22 SPRY 1.33% 7,503,812 $75M $10.05 -$94M -2,220,696 -22.8%
23 INSM 1.19% 471,000 $68M $144.01 -$3M -229,700 -32.8%
24 BIO 1.12% 226,070 $63M $280.39 $9M
25 PHVS 1.07% 2,442,464 $61M $24.95 $25M +425,000 +21.1%
26 IRON 1.07% 919,403 $61M $66.08 $12M
27 IDYA 1.03% 2,153,043 $59M $27.21 -$24M -1,762,268 -45.0%
28 BBOT 1.00% 4,885,446 $57M $11.58 +4,885,446 NEW
29 NVST 0.82% 2,294,036 $47M $20.37 $3M +78,191 +3.5%
30 CRMD 0.68% 3,323,833 $39M $11.63 +3,323,833 NEW
31 EHAB 0.67% 4,747,746 $38M $8.01 -$8M -32,118 -0.7%
32 EMBC 0.65% 2,620,421 $37M $14.11 $10M -129,291 -4.7%
33 CELC 0.64% 733,530 $36M $49.40 +733,530 NEW
34 CNMD 0.63% 760,196 $36M $47.03 -$718K +59,925 +8.6%
35 ZBIO 0.61% 1,562,942 $35M $22.20 $20M
36 NEO 0.60% 4,447,331 $34M $7.72 $19M +2,299,331 +107.0%
37 ARWR 0.60% 993,000 $34M $34.49 +993,000 NEW
38 DAWN 0.58% 4,705,413 $33M $7.05 $9M +982,282 +26.4%
39 KYMR 0.57% 572,258 $32M $56.60 $4M -80,742 -12.4%
40 CDNA 0.56% 2,191,000 $32M $14.54 +2,191,000 NEW
41 ALNY 0.55% 67,935 $31M $456.00 -$16M -77,065 -53.1%
42 ACHC 0.52% 1,189,000 $29M $24.76 +1,189,000 NEW
43 SION 0.50% 970,590 $29M $29.41 $12M
44 SVRA 0.50% 7,964,000 $28M $3.57 $10M
45 PHR 0.46% 1,116,752 $26M $23.52 -$3M +102,175 +10.1%
46 VCYT 0.44% 726,000 $25M $34.33 $8M +101,000 +16.2%
47 VTR 0.44% 354,000 $25M $69.99 $2M
48 BBNX 0.41% 1,168,415 $23M $19.87 $6M
49 XENE 0.38% 542,020 $22M $40.15 $5M
50 TSHA 0.31% 5,386,000 $18M $3.27 $5M
51 CGEM 0.31% 2,927,013 $17M $5.93 -$12M -928,539 -24.1%
52 FHTX 0.28% 3,255,514 $16M $4.89 $619K
53 EWTX 0.22% 765,694 $12M $16.22 -$15M -1,301,626 -63.0%
54 OMDA 0.22% 553,107 $12M $22.11 $2M
55 TOI 0.21% 3,360,052 $12M $3.49 $5M
56 IART 0.20% 794,865 $11M $14.33 $2M
57 GPCR 0.18% 373,407 $10M $28.00 $3M
58 SYRE 0.18% 613,665 $10M $16.76 $1M
59 DCGO 0.11% 4,622,708 $6M $1.36 -$1M -318,857 -6.5%
60 JBIO 0.08% 531,163 $5M $8.63 -$722K
61 ALGN 0.07% 32,789 $4M $125.22 $4M +30,844 +1585.8%
62 PBH 0.07% 64,563 $4M $62.40 +64,563 NEW
63 CALC 0.07% 1,300,000 $4M $3.08 $2M
64 UFPT 0.07% 18,660 $4M $199.60 $3M +17,143 +1130.1%
65 KIDS 0.06% 194,109 $4M $18.53 $3M +178,623 +1153.5%
66 VREX 0.06% 285,207 $4M $12.40 +285,207 NEW
67 MMSI 0.06% 41,846 $3M $83.23 +41,846 NEW
68 HAE 0.06% 69,089 $3M $48.74 $3M +65,560 +1857.8%
69 HTFL 0.06% 100,000 $3M $33.66 +100,000 NEW
70 KVUE 0.06% 193,853 $3M $16.23 +193,853 NEW
71 ALEC 0.06% 1,055,192 $3M $2.96 $2M
72 ATRC 0.05% 87,569 $3M $35.25 $3M +76,431 +686.2%
73 BSX 0.05% 31,312 $3M $97.63 +31,312 NEW
74 TXG 0.05% 261,188 $3M $11.69 $3M +249,887 +2211.2%
75 RDNT 0.05% 39,913 $3M $76.21 $3M +38,407 +2550.3%
76 IRTC 0.05% 17,262 $3M $171.99 +17,262 NEW
77 0I3I.L 0.05% 43,110 $3M $68.56 $3M +36,782 +581.3%
78 PKI 0.05% 33,541 $3M $87.65 +33,541 NEW
79 BLFS 0.05% 111,195 $3M $25.51 $3M +97,525 +713.4%
80 LMAT 0.05% 29,959 $3M $87.51 $2M +25,790 +618.6%
81 STAA 0.05% 96,989 $3M $26.87 +96,989 NEW
82 TRUP 0.04% 57,045 $2M $43.28 +57,045 NEW
83 DVA 0.04% 18,567 $2M $132.87 $2M +16,466 +783.7%
84 ISRG 0.04% 5,438 $2M $447.23 +5,438 NEW
85 WAT 0.04% 7,885 $2M $299.81 +7,885 NEW
86 CRVL 0.04% 30,216 $2M $77.42 $2M +28,223 +1416.1%
87 ENOV 0.04% 69,213 $2M $30.34 $2M +58,946 +574.1%
88 CHE 0.04% 4,664 $2M $447.74 +4,664 NEW
89 ALHC 0.03% 102,942 $2M $17.45 -$3M -239,616 -70.0%
90 ANNX 0.03% 583,913 $2M $3.05 $380K
91 NHC 0.03% 14,584 $2M $121.51 $1M +11,658 +398.4%
92 RGEN 0.03% 12,909 $2M $133.67 $2M +11,281 +692.9%
93 TFX 0.03% 13,572 $2M $122.36 $1M +11,767 +651.9%
94 GEHC 0.03% 21,924 $2M $75.10 +21,924 NEW
95 PEN 0.03% 6,411 $2M $253.32 +6,411 NEW
96 DXCM 0.03% 22,287 $1M $67.29 +22,287 NEW
97 TMDX 0.03% 12,752 $1M $112.20 +12,752 NEW
98 AVNS 0.03% 122,899 $1M $11.56 +122,899 NEW
99 PODD 0.02% 4,480 $1M $308.73 +4,480 NEW
100 ITGR 0.02% 12,528 $1M $103.33 +12,528 NEW

Options Breakdown

0 Calls $0 Call Value 1 Puts $26M Put Value

Top Puts

SymbolSharesValueStatus
MRNA 1,000,000 $26M NEW

New Positions

SymbolValue% Port
IONS $130M 2.28%
BMY $105M 1.86%
BBOT $57M 1.00%
CRMD $39M 0.68%
CELC $36M 0.64%
ARWR $34M 0.60%
CDNA $32M 0.56%
ACHC $29M 0.52%
PBH $4M 0.07%
VREX $4M 0.06%
MMSI $3M 0.06%
HTFL $3M 0.06%
KVUE $3M 0.06%
BSX $3M 0.05%
IRTC $3M 0.05%

Sold Out Positions

SymbolValue% Port
NVCR —%
PACS —%
CRL —%
OSCR —%
UHS —%
MEDP —%
DCTH —%
MRNA —%
MREO —%
IQV —%
LUNG —%
PCVX —%
NPCE —%
LQDA —%
RXST —%
View SEC EDGAR Filings for DEERFIELD MANAGEMENT COMPANY, L.P. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms