DEERFIELD MANAGEMENT COMPANY, L.P.

Q4 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
150
Total value ($000)
$7,830,166
Net value change ($000)
+1,279,426 (19.5%)
New positions
31
Sold out positions
34
Turnover %
14.7%
Sector allocation + QoQ delta (equities-only)

Holdings aggregated across other managers listed in the original SEC filing. View detailed breakdown

Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
PRAX 221,689 497.5%
COGT 191,236 147.1%
NUVL 179,158 11.5%
CELC 134,718 371.8%
VERA 99,771 94.3%
ARWR 87,440 255.3%
INSP 61,148 78.7%
RVMD 60,085 35.2%
STOK 57,878 NEW
LNTH 55,103 NEW
Top Reduces (Value $000, Stocks/ETFs)
Merus N.V. -286,867 -100.0%
BMY -105,433 -100.0%
MRK -86,448 -100.0%
PFE -84,181 -100.0%
INSM -67,829 -100.0%
CNC -57,426 -17.8%
INDV -46,709 -27.7%
ZBIO -34,697 -100.0%
NEO -34,333 -100.0%
CNMD -33,618 -94.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 29,490 (0.4% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type