Deerfield Management Company, L.P.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Deerfield Management Company, L.P. reported 430 stock positions worth $6.0 billion. Its top holding was Nuvalent Class A (NUVL) at 33.9% of the portfolio, followed by Viatris (VTRS, 4.6%) and Centene (CNC, 3.3%). Compared with Q2 2024, it opened 246 new positions, sold out of 234, added to 85 and reduced 72. The biggest buy was a new position in Indivior (INDV) and the biggest sale an exit from Gilead Sciences (GILD).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001009258
- Portfolio Value
- $6.0B (Q3 2024)
- SEC Filing
- 0001213900-24-098387 ↗ filed Nov 14, 2024
Holdings Value
Holdings 430 stocks · $6.0B
| NUVL Nuvalent Inc. Class A | 33.86% | 19,991,024 | $2.0B | No change |
| VTRS Viatris Inc. | 4.61% | 23,993,023 | $278.6M | Add +12.1% |
| CNC Centene Corp. | 3.31% | 2,652,189 | $199.7M | Add +0.1% |
| MRUS Merus NV | 2.82% | 3,408,539 | $170.3M | Add +24.0% |
| OSCR Oscar Health Inc. Class A | 2.76% | 7,851,675 | $166.5M | Add +12.8% |
| SPRY Ars Pharmaceuticals Inc. | 2.66% | 11,077,927 | $160.6M | No change |
| NBIX Neurocrine Biosciences Inc. | 2.51% | 1,316,590 | $151.7M | Add +90.5% |
| LRMR Larimar Therapeutics Inc. | 2.30% | 21,231,974 | $139.1M | No change |
| WAY Waystar Holding Corp. | 2.29% | 4,952,004 | $138.1M | No change |
| RVMD Revolution Medicines Inc. | 2.19% | 2,912,692 | $132.1M | Reduce -5.7% |
| ALHC Alignment Healthcare Inc. | 2.12% | 10,854,985 | $128.3M | Reduce -0.4% |
| CPRX Catalyst Pharmaceuticals Inc. | 2.05% | 6,229,634 | $123.8M | Reduce -31.8% |
| AHCO Adapthealth Corp. | 1.81% | 9,711,410 | $109.1M | Reduce -26.8% |
| BKD Brookdale Senior Living Inc. | 1.76% | 15,612,264 | $106.0M | No change |
| KURA Kura Oncology Inc. | 1.75% | 5,411,571 | $105.7M | No change |
| IDYA Ideaya Biosciences Inc. | 1.36% | 2,594,000 | $82.2M | Add +23.7% |
| ACH Accendra Health Inc. filed as OWENS & MINOR INC NEW | 1.28% | 4,911,979 | $77.1M | Reduce -22.9% |
| BAX Baxter International Inc. | 1.21% | 1,923,100 | $73.0M | Add +21.9% |
| BCRX Biocryst Pharmaceuticals Inc. | 1.02% | 8,135,804 | $61.8M | No change |
| SGRY Surgery Partners Inc. | 0.95% | 1,780,287 | $57.4M | Reduce -62.2% |
| CVS CVS Health Corp. | 0.91% | 874,800 | $55.0M | Reduce -10.3% |
| CGEM Cullinan Therapeutics Inc. | 0.91% | 3,280,000 | $54.9M | Reduce -0.0% |
| BIO Bio-Rad Laboratories-A | 0.84% | 151,575 | $50.7M | Reduce -0.1% |
| IRON Disc Medicine Inc. | 0.83% | 1,023,265 | $50.3M | No change |
| INDV Indivior Ltd. | 0.82% | 5,092,642 | $49.7M | New |
| EWTX Edgewise Therapeutics Inc. | 0.79% | 1,781,006 | $47.5M | Reduce -38.0% |
| BCAX Bicara Therapeutics Inc. | 0.76% | 1,795,174 | $45.7M | New |
| CNMD Conmed Corp. | 0.73% | 614,890 | $44.2M | Reduce -2.6% |
| LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV | 0.67% | 1,411,000 | $40.6M | No change |
| COGT Cogent Biosciences Inc. | 0.67% | 3,744,263 | $40.4M | No change |
| ALNY Alnylam Pharmaceuticals Inc. | 0.66% | 145,000 | $39.9M | Add +21.0% |
| EHAB Enhabit Inc. | 0.65% | 4,997,746 | $39.5M | No change |
| EMBC Embecta Corp. | 0.64% | 2,730,343 | $38.5M | Add +0.1% |
| PHVS Pharvaris NV | 0.62% | 2,031,700 | $37.6M | Add +45.4% |
| CATX Perspective Therapeutics Inc. | 0.62% | 2,817,763 | $37.6M | No change |
| GPCR Structure Therapeutics Inc. | 0.61% | 844,407 | $37.1M | No change |
| DAWN Day One Biopharmaceuticals I | 0.60% | 2,617,713 | $36.5M | Reduce -10.4% |
| TXG 10X Genomics Inc. Class A | 0.56% | 1,508,943 | $34.1M | Add +152.8% |
| CGON CG Oncology Inc. | 0.53% | 850,695 | $32.1M | Add +96.2% |
| DCGO Docgo Inc. | 0.50% | 9,066,138 | $30.1M | Add +26.0% |
| FHTX Foghorn Therapeutics Inc. | 0.47% | 3,027,886 | $28.2M | Add +20.2% |
| MREO Mereo Biopharma Group PL-ADR | 0.46% | 6,710,429 | $27.6M | No change |
| SVRA Savara Inc. | 0.45% | 6,465,777 | $27.4M | New |
| INMD Inmode Ltd. | 0.44% | 1,578,708 | $26.8M | Add +35.3% |
| PACS Pacs Group Inc. | 0.44% | 663,851 | $26.5M | No change |
| ZBIO Zenas Biopharma Inc. | 0.44% | 1,562,942 | $26.4M | New |
| LNTH Lantheus Holdings Inc. | 0.44% | 240,218 | $26.4M | No change |
| PCVX Vaxcyte Inc. | 0.43% | 225,000 | $25.7M | New |
| PODD Insulet Corp. | 0.42% | 109,600 | $25.5M | Reduce -2.5% |
| BNTX Biontech SE-ADR | 0.34% | 174,500 | $20.7M | Reduce -70.6% |
| DYN Dyne Therapeutics Inc. | 0.26% | 435,653 | $15.6M | New |
| RXRX Recursion Pharmaceuticals-A | 0.25% | 2,315,000 | $15.3M | New |
| NAMS Newamsterdam Pharma Co. NV | 0.25% | 901,750 | $15.0M | Add +3.7% |
| VTYX Ventyx Biosciences Inc. | 0.24% | 6,715,501 | $14.6M | Add +15.2% |
| CON Concentra Group Holdings Par | 0.24% | 650,000 | $14.5M | New |
| ACCD Accolade Inc. | 0.22% | 3,475,000 | $13.4M | No change |
| AUTL Autolus Therapeutics PLC | 0.22% | 3,639,000 | $13.2M | No change |
| FATE Fate Therapeutics Inc. | 0.21% | 3,555,871 | $12.4M | No change |
| PHR Phreesia Inc. | 0.21% | 544,448 | $12.4M | Add +183.1% |
| TNGX Tango Therapeutics Inc. | 0.20% | 1,540,000 | $11.9M | No change |
| NKTX Nkarta Inc. | 0.16% | 2,155,000 | $9.7M | Reduce -43.3% |
| PRLD Prelude Therapeutics Inc. | 0.13% | 3,766,120 | $7.8M | Reduce -8.9% |
| ALEC Alector Inc. | 0.08% | 1,055,192 | $4.9M | Reduce -8.1% |
| KYTX Kyverna Therapeutics Inc. | 0.07% | 918,892 | $4.5M | Reduce -53.7% |
| CALC Calcimedica Inc. | 0.07% | 1,000,000 | $4.4M | No change |
| INSM Insmed Inc. | 0.06% | 52,861 | $3.9M | Add +365.4% |
| PRME Prime Medicine Inc. | 0.06% | 896,960 | $3.5M | No change |
| ANNX Annexon Inc. | 0.06% | 583,913 | $3.5M | No change |
| HLVX Hillevax Inc. | 0.05% | 1,882,654 | $3.3M | Reduce -53.0% |
| AEROVATE THERAPEUTICS INC | 0.05% | 1,411,608 | $3.0M | No change |
| OMIC Singular Genomics Systems Inc. | 0.04% | 166,162 | $2.6M | No change |
| MLAB Mesa Laboratories Inc. | 0.04% | 19,664 | $2.6M | Add +449.1% |
| AIN Albany Intl Corp. Class A | 0.04% | 26,848 | $2.4M | Add +112.2% |
| FTRE Fortrea Holdings Inc. | 0.03% | 105,470 | $2.1M | New |
| NVDA Nvidia Corp. | 0.03% | 16,318 | $2.0M | Add +56.9% |
| CENT Central Garden & Pet Co. | 0.03% | 53,827 | $2.0M | New |
| AFCG Advanced Flower Capital Inc. filed as AFC GAMMA INC | 0.03% | 191,162 | $2.0M | New |
| BIOMX INC | 0.03% | 1,787,610 | $1.8M | Add +192.6% |
| OTTR Otter Tail Corp. | 0.03% | 22,452 | $1.8M | Add +78.1% |
| WSO Watsco Inc. | 0.03% | 3,401 | $1.7M | New |
| DFIN Donnelley Financial Solution | 0.03% | 24,968 | $1.6M | New |
| UAA Under Armour Inc. Class A | 0.03% | 184,457 | $1.6M | New |
| LOW Lowe's Cos Inc. | 0.03% | 5,913 | $1.6M | Reduce -27.1% |
| FBNC First Bancorp | 0.03% | 38,451 | $1.6M | New |
| OXM Oxford Industries Inc. | 0.03% | 18,184 | $1.6M | Add +83.1% |
| PREMIER INC-CLASS A | 0.03% | 78,878 | $1.6M | New |
| IEX Idex Corp. | 0.03% | 7,106 | $1.5M | New |
| BDX Becton Dickinson and Co. | 0.03% | 6,312 | $1.5M | Add +26.3% |
| PRVA Privia Health Group Inc. | 0.02% | 79,941 | $1.5M | New |
| BYRN Byrna Technologies Inc. | 0.02% | 85,037 | $1.4M | New |
| ANDE The Andersons Inc. | 0.02% | 28,632 | $1.4M | Add +36.6% |
| MMS Maximus Inc. | 0.02% | 15,377 | $1.4M | Add +13.4% |
| ODFL Old Dominion Freight Line | 0.02% | 7,199 | $1.4M | New |
| JOE The St Joe Co. | 0.02% | 24,428 | $1.4M | New |
| WEAV Weave Communications Inc. | 0.02% | 108,555 | $1.4M | New |
| EXAS Exact Sciences Corp. | 0.02% | 20,341 | $1.4M | New |
| IDXX Idexx Laboratories Inc. | 0.02% | 2,643 | $1.3M | Add +38.1% |
| USNA Usana Health Sciences Inc. | 0.02% | 34,136 | $1.3M | Add +14.8% |
| LFMD Lifemd Inc. | 0.02% | 241,329 | $1.3M | Add +499.0% |
| STRO Sutro Biopharma Inc. Com SHS | 0.02% | 359,919 | $1.2M | New |
Other holdings (13): bonds, preferreds, convertibles and warrants · $653.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| INTEGRA LIFESCIENCES HLD (IART 0.5 08/15/25) | NOTE 0.500% 8/1 · principal | 174,364,000 | $165.8M | No change |
| ACCOLADE INC (ACCD 0.5 04/01/26) | NOTE 0.500% 4/0 · principal | 132,598,000 | $122.0M | No change |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | 100,000,000 | $117.1M | New |
| ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | 117,500,000 | $105.7M | New |
| MIRUM PHARMACEUTICALS (MIRM 4 05/01/29) | NOTE 4.000% 5/0 · principal | 70,000,000 | $103.0M | No change |
| LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) | NOTE 2.625%12/1 · principal | 25,255,000 | $39.3M | No change |
| NAMSW Newamsterdam Pharma Co. NV-27 | *W EXP 99/99/999 | 92,787 | $650K | No change |
| BFLYW Butterfly Network Inc. -CW25 | *W EXP 02/12/202 | 733,333 | $60K | No change |
| QSIAW Quantum-Si Inc. -CW27 | *W EXP 06/10/202 | 333,333 | $29K | No change |
| STLNW Oncology Institute Inc. CW-22 | *W EXP 99/99/999 | 1,250,000 | $25K | No change |
| NUVB.WS Nuvation Bio Inc. -CW27 | *W EXP 02/10/202 | 166,666 | $16K | No change |
| CMXWQ Caremax-CW | *W EXP 06/08/202 | 672,000 | $7K | No change |
| SRZNW Surrozen Inc.-CW25 | *W EXP 08/01/203 | 166,666 | $2K | No change |
Total filed on the 13F, all lines: $6.7B.
Portfolio Sells Q2 2024 → Q3 2024
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −1.98 |
| SGRY Surgery Partners Inc. | Reduce -62.2% | 0.95% | −1.21 |
| HLVX Hillevax Inc. | Reduce -53.0% | 0.05% | −1.06 |
| IART Integra Lifesciences Holding | Sold out | 0.00% | −0.83 |
| AHCO Adapthealth Corp. | Reduce -26.8% | 1.81% | −0.76 |
| CPRX Catalyst Pharmaceuticals Inc. | Reduce -31.8% | 2.05% | −0.68 |
| BNTX Biontech SE-ADR | Reduce -70.6% | 0.34% | −0.58 |
| ACH Accendra Health Inc. | Reduce -22.9% | 1.28% | −0.39 |
| CSTL Castle Biosciences Inc. | Reduce -98.1% | 0.01% | −0.36 |
| NKTX Nkarta Inc. | Reduce -43.3% | 0.16% | −0.27 |
| APGE Apogee Therapeutics Inc. | Sold out | 0.00% | −0.25 |
| EWTX Edgewise Therapeutics Inc. | Reduce -38.0% | 0.79% | −0.21 |
| KYTX Kyverna Therapeutics Inc. | Reduce -53.7% | 0.07% | −0.21 |
| ITOS Iteos Therapeutics Inc. | Sold out | 0.00% | −0.21 |
| CVS CVS Health Corp. | Reduce -10.3% | 0.91% | −0.20 |
| CGEM Cullinan Therapeutics Inc. | Reduce -0.0% | 0.91% | −0.20 |
| SLDB Solid Biosciences Inc. | Sold out | 0.00% | −0.19 |
| PRLD Prelude Therapeutics Inc. | Reduce -8.9% | 0.13% | −0.18 |
| DAWN Day One Biopharmaceuticals I | Reduce -10.4% | 0.60% | −0.17 |
| EYPT Eyepoint Inc. | Sold out | 0.00% | −0.15 |
| RVMD Revolution Medicines Inc. | Reduce -5.7% | 2.19% | −0.13 |
| CNMD Conmed Corp. | Reduce -2.6% | 0.73% | −0.11 |
| GUTS Fractyl Health Inc. | Sold out | 0.00% | −0.07 |
| CABA Cabaletta Bio Inc. | Sold out | 0.00% | −0.07 |
| DRI Darden Restaurants Inc. | Sold out | 0.00% | −0.04 |
| JBL Jabil Inc. | Sold out | 0.00% | −0.04 |
| INOD Innodata Inc. | Sold out | 0.00% | −0.03 |
| CVGW Calavo Growers Inc. | Sold out | 0.00% | −0.03 |
| HUMA Humacyte Inc. | Sold out | 0.00% | −0.03 |
| KWR Quaker Chemical Corporation | Reduce -62.1% | 0.01% | −0.03 |
| HXL Hexcel Corp. | Sold out | 0.00% | −0.03 |
| ZTS Zoetis Inc. | Reduce -83.3% | 0.01% | −0.03 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.03 |
| MATW Matthews Intl Corp. Class A | Sold out | 0.00% | −0.03 |
| CSV Carriage Services Inc. | Sold out | 0.00% | −0.03 |
| TMDX Transmedics Group Inc. | Sold out | 0.00% | −0.03 |
| MAN Manpowergroup Inc. | Sold out | 0.00% | −0.03 |
| VYX NCR Voyix Corp. | Sold out | 0.00% | −0.03 |
| BCSF Bain Capital Specialty Finan | Sold out | 0.00% | −0.03 |
| ZBRA Zebra Technologies Corp. Class A | Sold out | 0.00% | −0.02 |
| CDMO Avid Bioservices Inc. | Sold out | 0.00% | −0.02 |
| RVTY Revvity Inc. | Sold out | 0.00% | −0.02 |
| EPC Edgewell Personal Care Co. | Sold out | 0.00% | −0.02 |
| XRAY Dentsply Sirona Inc. | Sold out | 0.00% | −0.02 |
| YELP Yelp Inc. | Sold out | 0.00% | −0.02 |
| AROC Archrock Inc. | Sold out | 0.00% | −0.02 |
| KMT Kennametal Inc. | Sold out | 0.00% | −0.02 |
| TTC Toro Co. | Sold out | 0.00% | −0.02 |
| USAP Universal Stainless & Alloy | Reduce -71.1% | 0.01% | −0.02 |
| TFX Teleflex Inc. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q2 2024 → Q3 2024
| INDV Indivior Ltd. | New | 0.82% | +0.82 |
| BCAX Bicara Therapeutics Inc. | New | 0.76% | +0.76 |
| NBIX Neurocrine Biosciences Inc. | Add +90.5% | 2.51% | +0.67 |
| OSCR Oscar Health Inc. Class A | Add +12.8% | 2.76% | +0.63 |
| SVRA Savara Inc. | New | 0.45% | +0.45 |
| ZBIO Zenas Biopharma Inc. | New | 0.44% | +0.44 |
| PCVX Vaxcyte Inc. | New | 0.43% | +0.43 |
| TXG 10X Genomics Inc. Class A | Add +152.8% | 0.56% | +0.34 |
| CGON CG Oncology Inc. | Add +96.2% | 0.53% | +0.27 |
| DYN Dyne Therapeutics Inc. | New | 0.26% | +0.26 |
| RXRX Recursion Pharmaceuticals-A | New | 0.25% | +0.25 |
| CON Concentra Group Holdings Par | New | 0.24% | +0.24 |
| VTRS Viatris Inc. | Add +12.1% | 4.61% | +0.22 |
| BAX Baxter International Inc. | Add +21.9% | 1.21% | +0.19 |
| FHTX Foghorn Therapeutics Inc. | Add +20.2% | 0.47% | +0.19 |
| PHR Phreesia Inc. | Add +183.1% | 0.21% | +0.13 |
| PHVS Pharvaris NV | Add +45.4% | 0.62% | +0.12 |
| ALNY Alnylam Pharmaceuticals Inc. | Add +21.0% | 0.66% | +0.10 |
| DCGO Docgo Inc. | Add +26.0% | 0.50% | +0.07 |
| INSM Insmed Inc. | Add +365.4% | 0.06% | +0.05 |
| MLAB Mesa Laboratories Inc. | Add +449.1% | 0.04% | +0.04 |
| FTRE Fortrea Holdings Inc. | New | 0.03% | +0.03 |
| CENT Central Garden & Pet Co. | New | 0.03% | +0.03 |
| AFCG Advanced Flower Capital Inc. | New | 0.03% | +0.03 |
| INMD Inmode Ltd. | Add +35.3% | 0.44% | +0.03 |
| WSO Watsco Inc. | New | 0.03% | +0.03 |
| DFIN Donnelley Financial Solution | New | 0.03% | +0.03 |
| UAA Under Armour Inc. Class A | New | 0.03% | +0.03 |
| FBNC First Bancorp | New | 0.03% | +0.03 |
| PREMIER INC-CLASS A | New | 0.03% | +0.03 |
| IEX Idex Corp. | New | 0.03% | +0.03 |
| PRVA Privia Health Group Inc. | New | 0.02% | +0.02 |
| BYRN Byrna Technologies Inc. | New | 0.02% | +0.02 |
| ODFL Old Dominion Freight Line | New | 0.02% | +0.02 |
| JOE The St Joe Co. | New | 0.02% | +0.02 |
| WEAV Weave Communications Inc. | New | 0.02% | +0.02 |
| EXAS Exact Sciences Corp. | New | 0.02% | +0.02 |
| STRO Sutro Biopharma Inc. Com SHS | New | 0.02% | +0.02 |
| MMM 3M Co. | New | 0.02% | +0.02 |
| DHIL Diamond Hill Investment Grp | New | 0.02% | +0.02 |
| NVAX Novavax Inc. | New | 0.02% | +0.02 |
| ARCB Arcbest Corp. | New | 0.02% | +0.02 |
| AIN Albany Intl Corp. Class A | Add +112.2% | 0.04% | +0.02 |
| AMPL Amplitude Inc. Class A | New | 0.02% | +0.02 |
| ACHC Acadia Healthcare Co. Inc. | New | 0.02% | +0.02 |
| SAM Boston Beer Company Inc. Class A | New | 0.02% | +0.02 |
| DT Dynatrace Inc. | New | 0.02% | +0.02 |
| HTO H2O America | New | 0.02% | +0.02 |
| TT Trane Technologies PLC | New | 0.02% | +0.02 |
| ED Consolidated Edison Inc. | New | 0.02% | +0.02 |
Notes & Other Activity Q2 2024 → Q3 2024
| INSMED INC (INSM 1.75 01/15/25) | NOTE 1.750% 1/1 · principal | Sold out | 151,408,000 | $258.7Mbefore exit |
| BROOKDALE SENIOR LIVING (BKD 2 10/15/26) | NOTE 2.000%10/1 · principal | Sold out | 161,905,000 | $163.3Mbefore exit |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | NOTE 1.000% 9/1 · principal | New | 100,000,000 | $117.1M |
| ALPHATEC HOLDINGS INC (ATEC 0.75 08/01/26) | NOTE 0.750% 8/0 · principal | New | 117,500,000 | $105.7M |
| NEOGENOMICS INC (NEO 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 6,500,000 | $6.3Mbefore exit |
| TLSIW Medtech Acquisition Corp.-CW | *W EXP 08/10/202 | Sold out | 333,333 | $543Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 69 | $8.0B | NUVL, RVMD, PRAX, VTRS, CNC |
| Q1 2026 | 69 | $7.2B | NUVL, COGT, PRAX, VTRS, UTHR |
| Q4 2025 | 135 | $6.8B | NUVL, COGT, PRAX, CNC, VTRS |
| Q3 2025 | 138 | $6.0B | NUVL, CNC, MRUS, VTRS, UTHR |
| Q2 2025 | 110 | $4.9B | NUVL, OSCR, VTRS, MRUS, CNC |
| Q1 2025 | 109 | $4.4B | NUVL, VTRS, NBIX, CNC, OSCR |
| Q4 2024 | 93 | $4.7B | NUVL, VTRS, CNC, OSCR, RVMD |
| Q3 2024 | 430 | $6.0B | NUVL, VTRS, CNC, MRUS, OSCR |
| Q2 2024 | 418 | $5.2B | NUVL, VTRS, CNC, MRUS, LRMR |
| Q1 2024 | 353 | $5.2B | NUVL, VTRS, CNC, LRMR, AHCO |