Deerfield Management Portfolio
13F Holdings & Position Changes — Last filed May 15, 2026
13F Holdings & Position Changes — Last filed May 15, 2026
Multi-strategy healthcare fund with one of the longest track records in the space. Deerfield invests across public equity, private equity, structured credit, and royalties in healthcare. Known for creative financing structures and deep industry relationships across pharma and biotech.
Deerfield Management is a $16B biotech-focused hedge fund managed by James Flynn. As of their latest 13F filing (Q1 2026), the fund holds 65 positions worth $6.7B. This quarter they initiated 5 new positions and exited 605. Their largest holding is NUVL ($1.8B).
Deerfield initiated 5 new positions and increased 18 this quarter. Portfolio grew +54.0% to $6.7B. 1000 upcoming catalysts across holdings.
Portfolio Value (13F)
$6.7B
Holdings
65
Top 10 Concentration
57.6%
QoQ Change
+54.0%
Turnover
2.8%
Portfolio Value Trend
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| # | Ticker | Company | Change | Value | % of Portfolio | SI % Float ? | Trend |
|---|---|---|---|---|---|---|---|
| 1 | NUVL | Nuvalent Inc. | $1.8B | 26.47% | 6.6% | ||
| 2 | COGT | Cogent Biosciences Inc. | $348.1M | 5.21% | 7.9% | ||
| 3 | PRAX | Praxis Precision Medicines, Inc. | Increased | $310.4M | 4.65% | 12.8% | — |
| 4 | VTRS | Viatris Inc. | $273.0M | 4.09% | 3.9% | — | |
| 5 | UTHR | United Therapeutics Corporation | Increased | $271.0M | 4.06% | 6.0% | — |
| 6 | RVMD | Revolution Medicines Inc. | Decreased | $223.4M | 3.35% | 6.1% | — |
| 7 | CELC | Celcuity Inc. | $195.6M | 2.93% | 32.9% | ||
| 8 | LRMR | Larimar Therapeutics, Inc. | Increased | $160.2M | 2.40% | — | |
| 9 | VERA | Vera Therapeutics Inc. | Decreased | $149.7M | 2.24% | 18.8% | — |
| 10 | IONS | Ionis Pharmaceuticals Inc. | $148.7M | 2.23% | 14.3% | — |
Share changes reflect active decisions. Value changes include price moves.
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Deerfield Management held 65 biotech stocks in their 13F portfolio this quarter. Their top positions include NUVL, COGT, PRAX, VTRS, UTHR. The full holdings table is available on BiotechEdge with position sizes, quarter-over-quarter changes, and AI analysis.
Deerfield Management's tracked biotech portfolio is worth $6.7B across 65 positions, with total assets under management of approximately $16B. Portfolio values are based on 13F filings with the SEC.
Deerfield Management initiated 5 new positions this quarter, including SNDX, GNMSF, TYRA, SGP, MANE. They also increased 18 existing positions.
Deerfield Management fully exited 605 positions this quarter, including WRB-PG, ENSG, CPAY, LFMDP, VC and 600 more. They also trimmed 9 existing positions.
Multi-strategy healthcare fund with one of the longest track records in the space. Deerfield invests across public equity, private equity, structured credit, and royalties in healthcare. Known for creative financing structures and deep industry relationships across pharma and biotech.
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