DEERFIELD MANAGEMENT COMPANY, L.P. Q4 2025 Filing
Filed February 17, 2026
Portfolio Value
$7.8B
Holdings
150
Report Date
Q4 2025
Filing Type
13F-HR
All Holdings (150 positions)
| # | Stock | Shares | Value | % Portfolio | Type |
|---|---|---|---|---|---|
| 1 | NUVLNUVALENT INC | 17,248,450 | $1.7T | 22158.17% | |
| 2 | BKD 3.5 10/15/29BROOKDALE SR LIVING INC | 306,885,000 | $427.5B | 5459.57% | |
| 3 | COGTCOGENT BIOSCIENCES INC | 9,043,903 | $321.2B | 4102.58% | |
| 4 | PRAXPRAXIS PRECISION MEDICINES I | 903,351 | $266.3B | 3400.35% | |
| 5 | CNCCENTENE CORP DEL | 6,447,998 | $265.3B | 3388.63% | |
| 6 | VTRSVIATRIS INC | 20,206,170 | $251.6B | 3212.78% | |
| 7 | RVMDREVOLUTION MEDICINES INC | 2,894,613 | $230.6B | 2944.45% | |
| 8 | UTHUNITED THERAPEUTICS CORP DEL | 425,993 | $207.6B | 2650.84% | |
| 9 | VERAVERA THERAPEUTICS INC | 4,059,695 | $205.6B | 2625.51% | |
| 10 | MIRM 4 05/01/29MIRUM PHARMACEUTICALS INC | 70,000,000 | $180.7B | 2307.83% | |
| 11 | CELCCELCUITY INC | 1,714,000 | $171.0B | 2183.27% | |
| 12 | NBIXNEUROCRINE BIOSCIENCES INC | 1,184,345 | $168.0B | 2145.23% | |
| 13 | ISIIONIS PHARMACEUTICALS INC | 1,979,669 | $156.6B | 2000.10% | |
| 14 | NAMSNEWAMSTERDAM PHARMA COMPANY | 4,164,789 | $146.1B | 1865.86% | |
| 15 | INSPINSPIRE MED SYS INC | 1,505,872 | $138.9B | 1773.73% | |
| 16 | LEGNLEGEND BIOTECH CORP | 5,932,000 | $129.0B | 1646.98% | |
| 17 | B7SBROOKDALE SR LIVING INC | 11,637,032 | $125.6B | 1603.58% | |
| 18 | —INDIVIOR PLC | 3,393,063 | $121.7B | 1554.79% | |
| 19 | ARWRARROWHEAD PHARMACEUTICALS IN | 1,832,946 | $121.7B | 1554.11% | |
| 20 | LRMRLARIMAR THERAPEUTICS INC | 30,606,974 | $116.6B | 1489.27% | |
| 21 | CPRXCATALYST PHARMACEUTICALS INC | 4,911,161 | $114.6B | 1463.90% | |
| 22 | AHCOADAPTHEALTH CORP | 11,477,730 | $114.3B | 1459.97% | |
| 23 | BCRXBIOCRYST PHARMACEUTICALS INC | 14,341,000 | $111.9B | 1428.57% | |
| 24 | IONS 1.75 06/15/28IONIS PHARMACEUTICALS INC | 60,000,000 | $95.3B | 1217.45% | |
| 25 | ALHC 4.25 11/15/29ALIGNMENT HEALTHCARE INC | 61,000,000 | $92.6B | 1182.01% | |
| 26 | SPRYARS PHARMACEUTICALS INC | 7,503,812 | $87.4B | 1116.44% | |
| 27 | PHVSPHARVARIS N V | 3,126,042 | $86.7B | 1107.86% | |
| 28 | YB4PSAVARA INC | 13,569,000 | $81.8B | 1044.95% | |
| 29 | IDYAIDEAYA BIOSCIENCES INC | 2,153,043 | $74.4B | 950.55% | |
| 30 | CERTCERTARA INC | 7,808,605 | $68.8B | 878.56% | |
| 31 | BUWABIO RAD LABS INC | 226,070 | $68.5B | 874.77% | |
| 32 | NEO 0.25 01/15/28NEOGENOMICS INC | 72,689,000 | $64.7B | 826.15% | |
| 33 | ACHCACADIA HEALTHCARE COMPANY IN | 4,520,000 | $64.1B | 819.11% | |
| 34 | BBOTBRIDGEBIO ONCOLOGY THERAPEUT | 4,885,446 | $61.2B | 781.15% | |
| 35 | STOKSTOKE THERAPEUTICS INC | 1,823,500 | $57.9B | 739.15% | |
| 36 | LNTHLANTHEUS HLDGS INC | 827,999 | $55.1B | 703.73% | |
| 37 | GPCRSTRUCTURE THERAPEUTICS INC | 767,993 | $53.4B | 682.14% | |
| 38 | NVSTENVISTA HOLDINGS CORPORATION | 2,280,498 | $49.5B | 632.29% | |
| 39 | EHABENHABIT INC | 4,747,746 | $43.8B | 559.04% | |
| 40 | KYMRKYMERA THERAPEUTICS INC | 561,170 | $43.7B | 557.64% | |
| 41 | CDNACAREDX INC | 2,191,000 | $41.3B | 527.17% | |
| 42 | IRONDISC MEDICINE INC | 511,163 | $40.6B | 518.39% | |
| 43 | SIONSIONNA THERAPEUTICS INC | 970,590 | $39.9B | 509.95% | |
| 44 | LIVN 2.5 03/15/29LIVANOVA PLC | 34,280,000 | $39.7B | 507.33% | |
| 45 | BLTEBELITE BIO INC | 233,813 | $37.4B | 477.64% | |
| 46 | DAWNDAY ONE BIOPHARMACEUTICALS I | 3,723,131 | $34.7B | 443.15% | |
| 47 | PHRPHREESIA INC | 1,999,045 | $33.8B | 431.96% | |
| 48 | EMBCEMBECTA CORP | 2,752,031 | $32.7B | 417.54% | |
| 49 | VCYTVERACYTE INC | 726,000 | $30.6B | 390.34% | |
| 50 | MRNAMODERNA INC | 1,000,000 | $29.5B | 376.62% | Put |
| 51 | LNTH 2.625 12/15/27LANTHEUS HLDGS INC | 25,255,000 | $28.9B | 369.23% | |
| 52 | BBNXBETA BIONICS INC | 938,308 | $28.6B | 365.13% | |
| 53 | VENVENTAS INC | 354,000 | $27.4B | 349.83% | |
| 54 | IMCR 2.5 02/01/30IMMUNOCORE HLDGS PLC | 30,000,000 | $27.1B | 345.85% | |
| 55 | ALNYALNYLAM PHARMACEUTICALS INC | 67,935 | $27.0B | 345.00% | |
| 56 | TNGXTANGO THERAPEUTICS INC | 2,906,946 | $25.8B | 328.92% | |
| 57 | XENEXENON PHARMACEUTICALS INC | 542,020 | $24.3B | 310.25% | |
| 58 | SYRESPYRE THERAPEUTICS INC | 710,626 | $23.3B | 297.31% | |
| 59 | FHTXFOGHORN THERAPEUTICS INC | 3,649,211 | $19.7B | 251.65% | |
| 60 | CMPXCOMPASS THERAPEUTICS INC | 3,606,000 | $19.4B | 247.30% | |
| 61 | EWTXEDGEWISE THERAPEUTICS INC | 765,694 | $19.0B | 242.65% | |
| 62 | KYTXKYVERNA THERAPEUTICS INC | 2,000,000 | $18.8B | 240.10% | |
| 63 | TSHATAYSHA GENE THERAPIES INC | 2,722,165 | $15.0B | 191.20% | |
| 64 | CRMDCORMEDIX INC | 1,107,944 | $12.9B | 164.56% | |
| 65 | TOITHE ONCOLOGY INSTITUTE INC | 3,360,052 | $12.0B | 152.76% | |
| 66 | MNPRMONOPAR THERAPEUTICS INC | 170,558 | $11.1B | 142.23% | |
| 67 | MDLNMEDLINE INC | 260,000 | $10.9B | 139.46% | |
| 68 | OMDAOMADA HEALTH INC | 553,107 | $8.7B | 111.47% | |
| 69 | CALCCALCIMEDICA INC | 1,300,000 | $8.6B | 109.41% | |
| 70 | PBVPRESTIGE CONSMR HEALTHCARE I | 69,669 | $4.3B | 54.88% | |
| 71 | CGEMCULLINAN THERAPEUTICS INC | 386,169 | $4.0B | 51.03% | |
| 72 | VEEVVEEVA SYS INC | 17,711 | $4.0B | 50.48% | |
| 73 | RDNTRADNET INC | 49,951 | $3.6B | 45.52% | |
| 74 | LHLABCORP HOLDINGS INC | 13,825 | $3.5B | 44.29% | |
| 75 | ENOVENOVIS CORPORATION | 127,270 | $3.4B | 43.29% | |
| 76 | ALHCALIGNMENT HEALTHCARE INC | 164,345 | $3.2B | 41.44% | |
| 77 | DGXQUEST DIAGNOSTICS INC | 18,392 | $3.2B | 40.75% | |
| 78 | TMDXTRANSMEDICS GROUP INC | 25,492 | $3.1B | 39.60% | |
| 79 | PODDINSULET CORP | 10,616 | $3.0B | 38.53% | |
| 80 | ANNXANNEXON INC | 583,913 | $2.9B | 37.43% | |
| 81 | BLFSBIOLIFE SOLUTIONS INC | 120,211 | $2.9B | 37.11% | |
| 82 | CHECHEMED CORP NEW | 6,215 | $2.7B | 33.96% | |
| 83 | WOOFPETCO HEALTH & WELLNESS CO I | 936,309 | $2.6B | 33.60% | |
| 84 | KIDSORTHOPEDIATRICS CORP | 144,220 | $2.6B | 32.71% | |
| 85 | CITHE CIGNA GROUP | 9,203 | $2.5B | 32.34% | |
| 86 | TRUPTRUPANION INC | 66,438 | $2.5B | 31.70% | |
| 87 | RMERESMED INC | 10,104 | $2.4B | 31.07% | |
| 88 | BSXBOSTON SCIENTIFIC CORP | 24,941 | $2.4B | 30.37% | |
| 89 | DVADAVITA INC | 20,909 | $2.4B | 30.33% | |
| 90 | DOCSDOXIMITY INC | 51,942 | $2.3B | 29.36% | |
| 91 | DC4DEXCOM INC | 32,943 | $2.2B | 27.92% | |
| 92 | IRTCIRHYTHM TECHNOLOGIES INC | 12,099 | $2.1B | 27.41% | |
| 93 | NAMSNEWAMSTERDAM PHARMA COMPANY | 92,787 | $2.1B | 27.25% | |
| 94 | CNMDCONMED CORP | 52,555 | $2.1B | 27.24% | |
| 95 | 3M4MASIMO CORP | 16,147 | $2.1B | 26.82% | |
| 96 | LMATLEMAITRE VASCULAR INC | 25,815 | $2.1B | 26.73% | |
| 97 | TXG10X GENOMICS INC | 126,574 | $2.1B | 26.36% | |
| 98 | ATRCATRICURE INC | 52,076 | $2.1B | 26.31% | |
| 99 | AVNSAVANOS MED INC | 167,061 | $1.9B | 23.96% | |
| 100 | CRVLCORVEL CORP | 27,629 | $1.9B | 23.87% |
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