DEERFIELD MANAGEMENT COMPANY, L.P.

New York, NY · CIK 1009258 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2012 · limited partnership

Assets managed$19.1bn
Staff189 · 89 in investment roles
Main clients (by assets)Private funds 100%
Private funds12 (11 hedge) · $19.2bn gross assets
Form ADV · 2026-07-31SEC adviser record

Legal entityDEERFIELD MANAGEMENT COMPANY, L.P. (US)

Kindhedge funds, private equity, futures
Others nearbyNew York, NY, Parsippany, NJ

As an employer

Offices in1 country
Private fundshedge 11, private equity 1

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
New York, NY (main office)United States	United States	about 86
Parsippany, NJUnited States	United States	3

US visa salary filings

Filings FY2024–20266
Median salary offered$160,000
Middle half$140,000 – $191,250
Job titles5

Job title	Filings	Median
AnalystNew York, NY	2	$140,000
Data EngineerNew York, NY	1	$210,000
Senior Director, Business IntelligenceNew York, NY	1	$195,000
Director, Business IntelligenceNew York, NY	1	$180,000
Market Research AssociateNew York, NY	1	$80,000

Source: US Department of Labor, Labor Condition Application disclosure data (certified, full-time, yearly equivalent). These are the salaries the employer committed to pay the visa roles it filed for, at least the prevailing wage for the job and place; they are not the pay of all its staff. Filed by: Deerfield Management Company, L.P..

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$9.6bn reported value +13.1% vs Q1 2026

82positions

53.2%in top 10

13 new 14 added 12 reduced 13 sold out vs Q1 2026

This report includes the holdings of 1 other manager that shares the investment decisions:

Deerfield UGP, LLC – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NUVALENT INC COM COM		17,248,450	$2.1bn22.22%	22.22%	Unchanged
2	BROOKDALE SR LIVING INC NOTE 3.500%10/1 · principal BKD 3.5 10.15.29 · principal	BKD 3.5 10.15.29	306,885,000	$585.7m6.11%	6.11%	Unchanged
3	REVOLUTION MEDICINES INC COM RVMD	RVMD	2,392,000	$448.0m4.67%	4.67%	Added +95.0k	+95,000 4.1%
4	PRAXIS PRECISION MEDICINES I COM NEW PRAX	PRAX	963,351	$322.5m3.36%	3.36%	Unchanged
5	VIATRIS INC COM VTRS	VTRS	20,206,170	$320.9m3.35%	3.35%	Unchanged
6	CENTENE CORP DEL COM CNC	CNC	4,901,000	$314.6m3.28%	3.28%	Reduced -1.0m	-1,016,091 -17.2%
7	REVOLUTION MEDICINES INC NOTE 0.500% 5/0 · principal RVMD 0.5 05.01.33 · principal	RVMD 0.5 05.01.33	200,000,000	$251.7m2.63%	2.63%	New
8	UNITED THERAPEUTICS CORP DEL COM UTHR	UTHR	457,000	$247.6m2.58%	2.58%	Unchanged
9	ARROWHEAD PHARMACEUTICALS IN NOTE 1/1 · principal ARWR 0 01.15.32 · principal	ARWR 0 01.15.32	200,000,000	$240.5m2.51%	2.51%	Unchanged
10	LEGEND BIOTECH CORP SPONSORED ADS LEGN	LEGN	8,137,638	$235.0m2.45%	2.45%	Added +450.0k	+450,000 5.8%
11	COGENT BIOSCIENCES INC COM COGT	COGT	5,006,104	$193.7m2.02%	2.02%	Reduced -4.0m	-4,037,799 -44.6%
12	GENMAB A/S SPONSORED ADS GMAB	GMAB	6,865,000	$188.6m1.97%	1.97%	Added +4.4m	+4,403,000 178.8%
13	BROOKDALE SR LIVING INC COM BKD	BKD	11,637,032	$187.2m1.95%	1.95%	Unchanged
14	VERA THERAPEUTICS INC CL A VERA	VERA	3,916,400	$168.1m1.75%	1.75%	Added +194.3k	+194,300 5.2%
15	IONIS PHARMACEUTICALS INC COM IONS	IONS	1,979,669	$157.0m1.64%	1.64%	Unchanged
16	CELCUITY INC COM CELC	CELC	1,451,014	$151.8m1.58%	1.58%	Reduced -263.0k	-262,986 -15.3%
17	BIOCRYST PHARMACEUTICALS INC COM BCRX	BCRX	15,096,403	$151.0m1.57%	1.57%	Added +58.4k	+58,403 0.4%
18	NEWAMSTERDAM PHARMA COMPANY ORDINARY SHARES NAMS	NAMS	4,264,789	$144.5m1.51%	1.51%	Unchanged
19	ACADIA HEALTHCARE COMPANY IN COM ACHC	ACHC	4,520,000	$133.5m1.39%	1.39%	Unchanged
20	TANGO THERAPEUTICS INC COM TNGX	TNGX	4,190,611	$131.0m1.37%	1.37%	Added +43.8k	+43,798 1.1%
21	ADAPTHEALTH CORP COMMON STOCK AHCO	AHCO	11,477,730	$119.6m1.25%	1.25%	Unchanged
22	PHARVARIS N V COM PHVS	PHVS	3,376,042	$116.7m1.22%	1.22%	Added +250.0k	+250,000 8.0%
23	CELCUITY INC NOTE 0.250% 8/0 · principal CELC 0.25 08.01.32 · principal	CELC 0.25 08.01.32	100,000,000	$113.8m1.19%	1.19%	New
24	ARROWHEAD PHARMACEUTICALS IN COM ARWR	ARWR	1,389,055	$113.2m1.18%	1.18%	Reduced -184.2k	-184,242 -11.7%
25	DIANTHUS THERAPEUTICS INC COM DNTH	DNTH	1,125,313	$109.7m1.14%	1.14%	Added +105.5k	+105,500 10.3%
26	LARIMAR THERAPEUTICS INC COM LRMR	LRMR	35,606,974	$108.6m1.13%	1.13%	Unchanged
27	MINERALYS THERAPEUTICS INC COM MLYS	MLYS	3,958,000	$106.8m1.11%	1.11%	New
28	ALIGNMENT HEALTHCARE INC NOTE 4.250%11/1 · principal ALHC 4.25 11.15.29 · principal	ALHC 4.25 11.15.29	61,000,000	$103.8m1.08%	1.08%	Unchanged
29	IDEAYA BIOSCIENCES INC COM IDYA	IDYA	2,714,503	$101.2m1.06%	1.06%	Added +1.2m	+1,184,495 77.4%
30	XENON PHARMACEUTICALS INC COM XENE	XENE	1,615,696	$97.5m1.02%	1.02%	Unchanged
31	IONIS PHARMACEUTICALS INC NOTE 1.750% 6/1 · principal IONS 1.75 06.15.28 · principal	IONS 1.75 06.15.28	60,000,000	$93.1m0.97%	0.97%	Unchanged
32	SAVARA INC COM SVRA	SVRA	13,569,000	$83.6m0.87%	0.87%	Unchanged
33	LANTHEUS HLDGS INC COM LNTH	LNTH	752,999	$83.5m0.87%	0.87%	Reduced -75.0k	-75,000 -9.1%
34	SYNDAX PHARMACEUTICALS INC COM SNDX	SNDX	3,779,900	$82.6m0.86%	0.86%	Unchanged
35	ZENAS BIOPHARMA INC NOTE 2.500% 4/0 · principal ZBIO 2.5 04.01.32 · principal	ZBIO 2.5 04.01.32	67,200,000	$80.3m0.84%	0.84%	Added +2.2m	+2,200,000 3.4%
36	BIOMARIN PHARMACEUTICAL INC COM BMRN	BMRN	1,332,836	$76.3m0.80%	0.80%	Added +481.3k	+481,280 56.5%
37	PFIZER INC COM PFE	PFE	3,040,000	$73.2m0.76%	0.76%	Unchanged
38	INDIVIOR PHARMACEUTICALS INC COM INDV	INDV	1,648,895	$67.7m0.71%	0.71%	Reduced -1.4m	-1,448,895 -46.8%
39	BIO RAD LABS INC CL A BIO	BIO	226,070	$66.4m0.69%	0.69%	Unchanged
40	ARS PHARMACEUTICALS INC COM SPRY	SPRY	7,503,812	$60.1m0.63%	0.63%	Unchanged
41	STOKE THERAPEUTICS INC COM STOK	STOK	1,823,500	$59.7m0.62%	0.62%	Unchanged
42	STRUCTURE THERAPEUTICS INC SPONSORED ADS GPCR	GPCR	1,086,000	$58.3m0.61%	0.61%	Added +318.0k	+318,007 41.4%
43	ENVISTA HOLDINGS CORPORATION COM NVST	NVST	2,210,100	$58.2m0.61%	0.61%	Unchanged
44	INSPIRE MED SYS INC COM INSP	INSP	1,296,862	$57.9m0.60%	0.60%	Reduced -1.4m	-1,406,376 -52.0%
45	CAREDX INC COM CDNA	CDNA	1,997,618	$56.9m0.59%	0.59%	Reduced -193.4k	-193,382 -8.8%
46	BOSTON SCIENTIFIC CORP COM BSX	BSX	1,315,000	$56.1m0.59%	0.59%	New
47	BELITE BIO INC SPONSORED ADS BLTE	BLTE	357,199	$55.0m0.57%	0.57%	Added +53.2k	+53,186 17.5%
48	PARABILIS MEDICINES INC COM PBLS	PBLS	1,880,704	$51.5m0.54%	0.54%	New
49	CERTARA INC COM CERT	CERT	7,512,928	$49.2m0.51%	0.51%	Reduced -295.7k	-295,677 -3.8%
50	DISC MEDICINE INC COM IRON	IRON	657,000	$48.1m0.50%	0.50%	Unchanged
51	LIVANOVA PLC NOTE 2.500% 3/1 · principal LIVN 2.5 03.15.29 · principal	LIVN 2.5 03.15.29	34,280,000	$46.5m0.48%	0.48%	Unchanged
52	BRIDGEBIO ONCOLOGY THERAPEUT COM NEW BBOT	BBOT	4,885,446	$37.2m0.39%	0.39%	Unchanged
53	TYRA BIOSCIENCES INC COM TYRA	TYRA	1,017,000	$32.5m0.34%	0.34%	Added +468.0k	+468,000 85.2%
54	MONOPAR THERAPEUTICS INC COM NEW MNPR	MNPR	323,745	$30.0m0.31%	0.31%	Unchanged
55	SIONNA THERAPEUTICS INC COM SION	SION	680,916	$30.0m0.31%	0.31%	Reduced -289.7k	-289,674 -29.9%
56	IMMUNOCORE HLDGS PLC NOTE 2.500% 2/0 · principal IMCR 2.5 02.01.30 · principal	IMCR 2.5 02.01.30	30,000,000	$27.1m0.28%	0.28%	Unchanged
57	AVALYN PHARMACEUTICALS INC COM SHS AVLN	AVLN	731,000	$24.1m0.25%	0.25%	New
58	FOGHORN THERAPEUTICS INC COM FHTX	FHTX	4,394,367	$21.4m0.22%	0.22%	Unchanged
59	BETA BIONICS INC COM BBNX	BBNX	1,324,000	$20.7m0.22%	0.22%	Unchanged
60	ALNYLAM PHARMACEUTICALS INC COM ALNY	ALNY	67,935	$20.5m0.21%	0.21%	Unchanged
61	BRIGHT MINDS BIOSCIENCES INC COM NEW DRUG	DRUG	283,000	$19.9m0.21%	0.21%	Unchanged
62	ODYSSEY THERAPEUTICS INC COMMON STOCK ODTX	ODTX	1,046,139	$19.6m0.20%	0.20%	New
63	THE ONCOLOGY INSTITUTE INC COM STLN	STLN	3,360,052	$18.2m0.19%	0.19%	Unchanged
64	KYVERNA THERAPEUTICS INC COM KYTX	KYTX	2,000,000	$17.8m0.19%	0.19%	Unchanged
65	ALAMAR BIOSCIENCES INC COMMON STOCK ALMR	ALMR	600,000	$16.3m0.17%	0.17%	New
66	CHEMED CORP NEW COM CHE	CHE	30,000	$14.0m0.15%	0.15%	New
67	SPYGLASS PHARMA INC COM SHS SGP	SGP	550,000	$12.2m0.13%	0.13%	Unchanged
68	NEOGENOMICS INC NOTE 0.250% 1/1 · principal NEO 0.25 01.15.28 · principal	NEO 0.25 01.15.28	13,040,000	$12.2m0.13%	0.13%	Reduced -59.6m	-59,649,000 -82.1%
69	ADAGENE INC ADS ADAG	ADAG	2,666,666	$11.2m0.12%	0.12%	New
70	HEMAB THERAPEUTICS HLDGS INC COM SHS COAG	COAG	275,000	$10.1m0.11%	0.11%	New
71	MOBIA MED INC COMMON STOCK MOBI	MOBI	670,752	$9.0m0.09%	0.09%	New
72	EMBECTA CORP COMMON STOCK EMBC	EMBC	2,534,961	$8.3m0.09%	0.09%	Unchanged
73	VERACYTE INC COM VCYT	VCYT	101,000	$5.9m0.06%	0.06%	Reduced -625.0k	-625,000 -86.1%
74	ANNEXON INC COM ANNX	ANNX	583,913	$3.3m0.03%	0.03%	Unchanged
75	ALECTOR INC COM ALEC	ALEC	1,055,192	$2.1m0.02%	0.02%	Unchanged
76	NEWAMSTERDAM PHARMA COMPANY *W EXP 11/22/202 NAMSW	NAMSW	92,787	$2.0m0.02%	0.02%	Unchanged
77	EDWARDS LIFESCIENCES CORP COM EW	EW	13,702	$1.2m0.01%	0.01%	Unchanged
78	MIRUM PHARMACEUTICALS INC COM MIRM	MIRM	6,027	$705.6k0.01%	0.01%	New
79	HUMANA INC COM HUM	HUM	917	$364.3k0.00%	0.00%	Unchanged
80	THE ONCOLOGY INSTITUTE INC *W EXP 11/15/202 STLNW	STLNW	1,250,000	$51.0k0.00%	0.00%	Unchanged
81	PMV PHARMACEUTICALS INC COM PMVP	PMVP	8,790	$11.8k0.00%	0.00%	Unchanged
82	SURROZEN INC W EXP 08/01/203 W EXP 08/01/203		166,666	$2.8k0.00%	0.00%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
MIRUM PHARMACEUTICALS INC MIRM 4 05.01.29	MIRM 4 05.01.29	70,000,000	$209.4m70.0m shares
CATALYST PHARMACEUTICALS INC CPRX	CPRX	3,943,600	$97.6m3.9m shares
NEUROCRINE BIOSCIENCES INC NBIX	NBIX	610,000	$80.4m610.0k shares
DAY ONE BIOPHARMACEUTICALS I		3,723,131	$79.8m3.7m shares
ENHABIT INC EHAB	EHAB	4,747,746	$66.9m4.7m shares
KYMERA THERAPEUTICS INC KYMR	KYMR	561,170	$46.7m561.2k shares
COMPASS THERAPEUTICS INC CMPX	CMPX	3,606,000	$19.1m3.6m shares
TAYSHA GENE THERAPIES INC TSHA	TSHA	2,722,165	$12.2m2.7m shares
CULLINAN THERAPEUTICS INC CGEM	CGEM	386,169	$5.5m386.2k shares
BIOMX INC		131,272	$492.8k131.3k shares
VERADERMICS INC MANE	MANE	5,000	$315.8k5.0k shares
QUANTUM SI INC		333,333	$36.2k333.3k shares
MYRIAD GENETICS INC MYGN	MYGN	505	$2.3k505 shares