Q4 2025 · 13F-HR
DEERFIELD MANAGEMENT COMPANY, L.P.holdings as filed
Filed 2026-02-17 · accession 0001213900-26-017265
$7.83B
Reported value
150
Positions
2025-12-31
Period end
The Brief · DEERFIELD MANAGEMENT COMPANY, L.P. · Q4 2025
AI · grounded in 13F
Deerfield Management Company, L.P. established a new position in Brookdale Sr Living Inc [[stock:BKD 3.5 10/15/29]] valued at $427.5M. The fund closed several positions, including Merus N V with a $286.9M reduction and Bristol-Myers Squibb Co BMY at $105.4M. Additionally, the fund increased its stake in Celcuity Inc CELC by 133.7% and Vera Therapeutics Inc VERA by 11.5%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 670703107 | NUVL | NUVALENT INC | $1.74B | 22.2% | 17,248,450 | Common | SOLE |
| 112463AF1 | BKD 3.5 10/15/29 | BROOKDALE SR LIVING INC | $427.5M | 5.46% | 306,885,000 | Common | SOLE |
| 19240Q201 | COGT | COGENT BIOSCIENCES INC | $321.2M | 4.10% | 9,043,903 | Common | SOLE |
| 74006W207 | PRAX | PRAXIS PRECISION MEDICINES I | $266.3M | 3.40% | 903,351 | Common | SOLE |
| 15135B101 | CNC | CENTENE CORP DEL | $265.3M | 3.39% | 6,447,998 | Common | SOLE |
| 92556V106 | VTRS | VIATRIS INC | $251.6M | 3.21% | 20,206,170 | Common | SOLE |
| 76155X100 | RVMD | REVOLUTION MEDICINES INC | $230.6M | 2.94% | 2,894,613 | Common | SOLE |
| 91307C102 | UTHR | UNITED THERAPEUTICS CORP DEL | $207.6M | 2.65% | 425,993 | Common | SOLE |
| 92337R101 | VERA | VERA THERAPEUTICS INC | $205.6M | 2.63% | 4,059,695 | Common | SOLE |
| 604749AB7 | MIRM 4 05/01/29 | MIRUM PHARMACEUTICALS INC | $180.7M | 2.31% | 70,000,000 | Common | SOLE |
| 15102K100 | CELC | CELCUITY INC | $171.0M | 2.18% | 1,714,000 | Common | SOLE |
| 64125C109 | NBIX | NEUROCRINE BIOSCIENCES INC | $168.0M | 2.15% | 1,184,345 | Common | SOLE |
| 462222100 | IONS | IONIS PHARMACEUTICALS INC | $156.6M | 2.00% | 1,979,669 | Common | SOLE |
| N62509109 | NAMS | NEWAMSTERDAM PHARMA COMPANY | $146.1M | 1.87% | 4,164,789 | Common | SOLE |
| 457730109 | INSP | INSPIRE MED SYS INC | $138.9M | 1.77% | 1,505,872 | Common | SOLE |
| 52490G102 | LEGN | LEGEND BIOTECH CORP | $129.0M | 1.65% | 5,932,000 | Common | SOLE |
| 112463104 | BKD | BROOKDALE SR LIVING INC | $125.6M | 1.60% | 11,637,032 | Common | SOLE |
| G4766E116 | INDV | INDIVIOR PLC | $121.7M | 1.55% | 3,393,063 | Common | SOLE |
| 04280A100 | ARWR | ARROWHEAD PHARMACEUTICALS IN | $121.7M | 1.55% | 1,832,946 | Common | SOLE |
| 517125100 | LRMR | LARIMAR THERAPEUTICS INC | $116.6M | 1.49% | 30,606,974 | Common | SOLE |
| 14888U101 | CPRX | CATALYST PHARMACEUTICALS INC | $114.6M | 1.46% | 4,911,161 | Common | SOLE |
| 00653Q102 | AHCO | ADAPTHEALTH CORP | $114.3M | 1.46% | 11,477,730 | Common | SOLE |
| 09058V103 | BCRX | BIOCRYST PHARMACEUTICALS INC | $111.9M | 1.43% | 14,341,000 | Common | SOLE |
| 462222AF7 | IONS 1.75 06/15/28 | IONIS PHARMACEUTICALS INC | $95.3M | 1.22% | 60,000,000 | Common | SOLE |
| 01625VAB0 | ALHC 4.25 11/15/29 | ALIGNMENT HEALTHCARE INC | $92.6M | 1.18% | 61,000,000 | Common | SOLE |
| 82835W108 | SPRY | ARS PHARMACEUTICALS INC | $87.4M | 1.12% | 7,503,812 | Common | SOLE |
| N69605108 | PHVS | PHARVARIS N V | $86.7M | 1.11% | 3,126,042 | Common | SOLE |
| 805111101 | SVRA | SAVARA INC | $81.8M | 1.04% | 13,569,000 | Common | SOLE |
| 45166A102 | IDYA | IDEAYA BIOSCIENCES INC | $74.4M | 0.95% | 2,153,043 | Common | SOLE |
| 15687V109 | CERT | CERTARA INC | $68.8M | 0.88% | 7,808,605 | Common | SOLE |
| 090572207 | BIO | BIO RAD LABS INC | $68.5M | 0.87% | 226,070 | Common | SOLE |
| 64049MAB6 | NEO 0.25 01/15/28 | NEOGENOMICS INC | $64.7M | 0.83% | 72,689,000 | Common | SOLE |
| 00404A109 | ACHC | ACADIA HEALTHCARE COMPANY IN | $64.1M | 0.82% | 4,520,000 | Common | SOLE |
| 107924102 | BBOT | BRIDGEBIO ONCOLOGY THERAPEUT | $61.2M | 0.78% | 4,885,446 | Common | SOLE |
| 86150R107 | STOK | STOKE THERAPEUTICS INC | $57.9M | 0.74% | 1,823,500 | Common | SOLE |
| 516544103 | LNTH | LANTHEUS HLDGS INC | $55.1M | 0.70% | 827,999 | Common | SOLE |
| 86366E106 | GPCR | STRUCTURE THERAPEUTICS INC | $53.4M | 0.68% | 767,993 | Common | SOLE |
| 29415F104 | NVST | ENVISTA HOLDINGS CORPORATION | $49.5M | 0.63% | 2,280,498 | Common | SOLE |
| 29332G102 | EHABUSD | ENHABIT INC | $43.8M | 0.56% | 4,747,746 | Common | SOLE |
| 501575104 | KYMR | KYMERA THERAPEUTICS INC | $43.7M | 0.56% | 561,170 | Common | SOLE |
| 14167L103 | CDNA | CAREDX INC | $41.3M | 0.53% | 2,191,000 | Common | SOLE |
| 254604101 | IRON | DISC MEDICINE INC | $40.6M | 0.52% | 511,163 | Common | SOLE |
| 829401108 | SION | SIONNA THERAPEUTICS INC | $39.9M | 0.51% | 970,590 | Common | SOLE |
| 53802LAB8 | LIVN 2.5 03/15/29 | LIVANOVA PLC | $39.7M | 0.51% | 34,280,000 | Common | SOLE |
| 07782B104 | BLTE | BELITE BIO INC | $37.4M | 0.48% | 233,813 | Common | SOLE |
| 23954D109 | DAWNGBX | DAY ONE BIOPHARMACEUTICALS I | $34.7M | 0.44% | 3,723,131 | Common | SOLE |
| 71944F106 | PHR | PHREESIA INC | $33.8M | 0.43% | 1,999,045 | Common | SOLE |
| 29082K105 | EMBC | EMBECTA CORP | $32.7M | 0.42% | 2,752,031 | Common | SOLE |
| 92337F107 | VCYT | VERACYTE INC | $30.6M | 0.39% | 726,000 | Common | SOLE |
| 60770K107 | MRNA | MODERNA INC | $29.5M | 0.38% | 1,000,000 | PUT | SOLE |
| 516544AB9 | LNTH 2.625 12/15/27 | LANTHEUS HLDGS INC | $28.9M | 0.37% | 25,255,000 | Common | SOLE |
| 08659B102 | BBNX | BETA BIONICS INC | $28.6M | 0.37% | 938,308 | Common | SOLE |
| 92276F100 | VTR | VENTAS INC | $27.4M | 0.35% | 354,000 | Common | SOLE |
| 45258DAB1 | IMCR 2.5 02/01/30 | IMMUNOCORE HLDGS PLC | $27.1M | 0.35% | 30,000,000 | Common | SOLE |
| 02043Q107 | ALNY | ALNYLAM PHARMACEUTICALS INC | $27.0M | 0.35% | 67,935 | Common | SOLE |
| 87583X109 | TNGX | TANGO THERAPEUTICS INC | $25.8M | 0.33% | 2,906,946 | Common | SOLE |
| 98420N105 | XENE | XENON PHARMACEUTICALS INC | $24.3M | 0.31% | 542,020 | Common | SOLE |
| 00773J202 | SYRE | SPYRE THERAPEUTICS INC | $23.3M | 0.30% | 710,626 | Common | SOLE |
| 344174107 | FHTX | FOGHORN THERAPEUTICS INC | $19.7M | 0.25% | 3,649,211 | Common | SOLE |
| 20454B104 | CMPX | COMPASS THERAPEUTICS INC | $19.4M | 0.25% | 3,606,000 | Common | SOLE |
| 28036F105 | EWTX | EDGEWISE THERAPEUTICS INC | $19.0M | 0.24% | 765,694 | Common | SOLE |
| 501976104 | KYTX | KYVERNA THERAPEUTICS INC | $18.8M | 0.24% | 2,000,000 | Common | SOLE |
| 877619106 | TSHA | TAYSHA GENE THERAPIES INC | $15.0M | 0.19% | 2,722,165 | Common | SOLE |
| 21900C308 | CRMD | CORMEDIX INC | $12.9M | 0.16% | 1,107,944 | Common | SOLE |
| 68236X100 | TOI | THE ONCOLOGY INSTITUTE INC | $12.0M | 0.15% | 3,360,052 | Common | SOLE |
| 61023L207 | MNPR | MONOPAR THERAPEUTICS INC | $11.1M | 0.14% | 170,558 | Common | SOLE |
| 58507V107 | MDLN | MEDLINE INC | $10.9M | 0.14% | 260,000 | Common | SOLE |
| 68170A108 | OMDA | OMADA HEALTH INC | $8.7M | 0.11% | 553,107 | Common | SOLE |
| 38942Q202 | CALC | CALCIMEDICA INC | $8.6M | 0.11% | 1,300,000 | Common | SOLE |
| 74112D101 | PBH | PRESTIGE CONSMR HEALTHCARE I | $4.3M | 0.05% | 69,669 | Common | SOLE |
| 230031106 | CGEM | CULLINAN THERAPEUTICS INC | $4.0M | 0.05% | 386,169 | Common | SOLE |
| 922475108 | VEEV | VEEVA SYS INC | $4.0M | 0.05% | 17,711 | Common | SOLE |
| 750491102 | RDNT | RADNET INC | $3.6M | 0.05% | 49,951 | Common | SOLE |
| 504922105 | LH | LABCORP HOLDINGS INC | $3.5M | 0.04% | 13,825 | Common | SOLE |
| 194014502 | ENOV | ENOVIS CORPORATION | $3.4M | 0.04% | 127,270 | Common | SOLE |
| 01625V104 | ALHC | ALIGNMENT HEALTHCARE INC | $3.2M | 0.04% | 164,345 | Common | SOLE |
| 74834L100 | DGX | QUEST DIAGNOSTICS INC | $3.2M | 0.04% | 18,392 | Common | SOLE |
| 89377M109 | TMDX | TRANSMEDICS GROUP INC | $3.1M | 0.04% | 25,492 | Common | SOLE |
| 45784P101 | PODD | INSULET CORP | $3.0M | 0.04% | 10,616 | Common | SOLE |
| 03589W102 | ANNX | ANNEXON INC | $2.9M | 0.04% | 583,913 | Common | SOLE |
| 09062W204 | BLFS | BIOLIFE SOLUTIONS INC | $2.9M | 0.04% | 120,211 | Common | SOLE |
| 16359R103 | CHE | CHEMED CORP NEW | $2.7M | 0.03% | 6,215 | Common | SOLE |
| 71601V105 | WOOF | PETCO HEALTH & WELLNESS CO I | $2.6M | 0.03% | 936,309 | Common | SOLE |
| 68752L100 | KIDS | ORTHOPEDIATRICS CORP | $2.6M | 0.03% | 144,220 | Common | SOLE |
| 125523100 | CI | THE CIGNA GROUP | $2.5M | 0.03% | 9,203 | Common | SOLE |
| 898202106 | TRUP | TRUPANION INC | $2.5M | 0.03% | 66,438 | Common | SOLE |
| 761152107 | RMD | RESMED INC | $2.4M | 0.03% | 10,104 | Common | SOLE |
| 101137107 | BSX | BOSTON SCIENTIFIC CORP | $2.4M | 0.03% | 24,941 | Common | SOLE |
| 23918K108 | DVA | DAVITA INC | $2.4M | 0.03% | 20,909 | Common | SOLE |
| 26622P107 | DOCS | DOXIMITY INC | $2.3M | 0.03% | 51,942 | Common | SOLE |
| 252131107 | DXCM | DEXCOM INC | $2.2M | 0.03% | 32,943 | Common | SOLE |
| 450056106 | IRTC | IRHYTHM TECHNOLOGIES INC | $2.1M | 0.03% | 12,099 | Common | SOLE |
| N62509117 | NAMSW | NEWAMSTERDAM PHARMA COMPANY | $2.1M | 0.03% | 92,787 | Common | SOLE |
| 207410101 | CNMD | CONMED CORP | $2.1M | 0.03% | 52,555 | Common | SOLE |
| 574795100 | MASI | MASIMO CORP | $2.1M | 0.03% | 16,147 | Common | SOLE |
| 525558201 | LMAT | LEMAITRE VASCULAR INC | $2.1M | 0.03% | 25,815 | Common | SOLE |
| 88025U109 | TXG | 10X GENOMICS INC | $2.1M | 0.03% | 126,574 | Common | SOLE |
| 04963C209 | ATRC | ATRICURE INC | $2.1M | 0.03% | 52,076 | Common | SOLE |
| 05350V106 | AVNS | AVANOS MED INC | $1.9M | 0.02% | 167,061 | Common | SOLE |
| 221006109 | CRVL | CORVEL CORP | $1.9M | 0.02% | 27,629 | Common | SOLE |
| 14149Y108 | CAH | CARDINAL HEALTH INC | $1.8M | 0.02% | 8,985 | Common | SOLE |
| 38246G108 | GDRX | GOODRX HLDGS INC | $1.8M | 0.02% | 660,133 | Common | SOLE |
| 86881A100 | SGRY | SURGERY PARTNERS INC | $1.7M | 0.02% | 112,623 | Common | SOLE |
| 016255101 | ALGN | ALIGN TECHNOLOGY INC | $1.7M | 0.02% | 11,000 | Common | SOLE |
| 006739106 | ADUS | ADDUS HOMECARE CORP | $1.7M | 0.02% | 15,871 | Common | SOLE |
| 589889104 | MMSI | MERIT MED SYS INC | $1.7M | 0.02% | 18,798 | Common | SOLE |
| 635906100 | NHC | NATIONAL HEALTHCARE CORP | $1.7M | 0.02% | 12,085 | Common | SOLE |
| 014442107 | ALEC | ALECTOR INC | $1.6M | 0.02% | 1,055,192 | Common | SOLE |
| 29261A100 | EHC | ENCOMPASS HEALTH CORP | $1.6M | 0.02% | 15,259 | Common | SOLE |
| 92214X106 | VREX | VAREX IMAGING CORP | $1.5M | 0.02% | 131,745 | Common | SOLE |
| 42226A107 | HQY | HEALTHEQUITY INC | $1.5M | 0.02% | 16,231 | Common | SOLE |
| 002824100 | ABT | ABBOTT LABS | $1.4M | 0.02% | 11,449 | Common | SOLE |
| 577933104 | MMS | MAXIMUS INC | $1.4M | 0.02% | 16,606 | Common | SOLE |
| 863667101 | SYK | STRYKER CORPORATION | $1.2M | 0.02% | 3,551 | Common | SOLE |
| 02081G201 | ATEC | ALPHATEC HLDGS INC | $1.2M | 0.02% | 57,277 | Common | SOLE |
| 852312305 | STAA | STAAR SURGICAL CO | $1.2M | 0.02% | 51,894 | Common | SOLE |
| 28176E108 | EW | EDWARDS LIFESCIENCES CORP | $1.2M | 0.01% | 13,702 | Common | SOLE |
| 902673102 | UFPT | UFP TECHNOLOGIES INC | $1.1M | 0.01% | 5,098 | Common | SOLE |
| 49177J102 | KVUE | KENVUE INC | $1.1M | 0.01% | 65,344 | Common | SOLE |
| 602496101 | MDXG | MIMEDX GROUP INC | $1.1M | 0.01% | 160,419 | Common | SOLE |
| 45826H109 | ITGR | INTEGER HLDGS CORP | $1.0M | 0.01% | 13,326 | Common | SOLE |
| 714046109 | RVTY | REVVITY INC | $998,750 | 0.01% | 10,323 | Common | SOLE |
| 114340102 | AZTA | AZENTA INC | $859,272 | 0.01% | 25,835 | Common | SOLE |
| 04335A105 | ARVN | ARVINAS INC | $807,156 | 0.01% | 68,057 | Common | SOLE |
| 98978V103 | ZTS | ZOETIS INC | $716,922 | 0.01% | 5,698 | Common | SOLE |
| 216648501 | COO | COOPER COS INC | $638,141 | 0.01% | 7,786 | Common | SOLE |
| 80810D103 | SDGR | SCHRODINGER INC | $607,688 | 0.01% | 33,987 | Common | SOLE |
| 875372203 | TNDM | TANDEM DIABETES CARE INC | $573,458 | 0.01% | 26,090 | Common | SOLE |
| 78349D107 | RXST | RXSIGHT INC | $544,518 | 0.01% | 52,257 | Common | SOLE |
| 457985208 | IART | INTEGRA LIFESCIENCES HLDGS C | $486,976 | 0.01% | 39,209 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $460,179 | 0.01% | 2,014 | Common | SOLE |
| 415858109 | HROW | HARROW INC | $425,957 | 0.01% | 8,693 | Common | SOLE |
| 98422E103 | XERS | XERIS BIOPHARMA HOLDINGS INC | $410,006 | 0.01% | 52,230 | Common | SOLE |
| 421906108 | HCSG | HEALTHCARE SVCS GROUP INC | $406,472 | 0.01% | 21,259 | Common | SOLE |
| 03209R103 | AMPH | AMPHASTAR PHARMACEUTICALS IN | $397,737 | 0.01% | 14,852 | Common | SOLE |
| 759916109 | RGEN | REPLIGEN CORP | $360,328 | 0.00% | 2,199 | Common | SOLE |
| G8473T100 | STE | STERIS PLC | $342,759 | 0.00% | 1,352 | Common | SOLE |
| 07831C103 | BRBR | BELLRING BRANDS INC | $320,653 | 0.00% | 11,996 | Common | SOLE |
| 46120E602 | ISRG | INTUITIVE SURGICAL INC | $273,552 | 0.00% | 483 | Common | SOLE |
| 63845R107 | EYE | NATIONAL VISION HLDGS INC | $265,533 | 0.00% | 10,284 | Common | SOLE |
| 09090D509 | PHGE | BIOMX INC | $245,471 | 0.00% | 131,270 | Common | SOLE |
| 444859102 | HUM | HUMANA INC | $234,871 | 0.00% | 917 | Common | SOLE |
| 00289Y206 | ABEO | ABEONA THERAPEUTICS INC | $210,800 | 0.00% | 40,000 | Common | SOLE |
| 68236X118 | TOIIW | THE ONCOLOGY INSTITUTE INC | $150,625 | 0.00% | 1,250,000 | Common | SOLE |
| 74765K113 | QSIAW | QUANTUM SI INC | $66,833 | 0.00% | 333,333 | Common | SOLE |
| 67080N119 | NUVB/WS | NUVATION BIO INC | $55,000 | 0.00% | 166,666 | Common | SOLE |
| 124155110 | BFLYW | BUTTERFLY NETWORK INC | $12,907 | 0.00% | 733,333 | Common | SOLE |
| 69353Y103 | PMVP | PMV PHARMACEUTICALS INC | $10,988 | 0.00% | 8,790 | Common | SOLE |
| 86889P117 | SRZNW | SURROZEN INC | $3,333 | 0.00% | 166,666 | Common | SOLE |
| 62855J104 | MYGN | MYRIAD GENETICS INC | $3,106 | 0.00% | 505 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.