SEC 13F Intelligence

Managers / Q4 2022 · view latest →

DEERFIELD MANAGEMENT COMPANY, L.P.

CIK 0001009258 · 345 PARK AVENUE SOUTH, 12TH FLOOR, NEW YORK, NY, 10010 · 2125511600

Reported Value
$4.8B
Q4 2022
Positions
104
Filings on Record
31
2019–present window
Filed
Feb 14, 2023
original filing

Summary

Deerfield Management Company, L.P. reported $4.8B in U.S.-listed holdings across 104 positions for Q4 2022.

Its largest position, NUVL, represents 12.3% of the portfolio.

Compared with Q3 2022, the fund opened 16 new positions and exited 40.

Portfolio Metrics

Turnover
+22.9%
vs prior filed quarter
Top-10 Concentration
+42.4%
share of reported value
Largest Position
+12.3%
Nuvalent
New / Exited
16 / 40
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $2.5BQ4 ’18Q1 ’19: $2.6BQ2 ’19: $2.8BQ3 ’19: $2.5BQ4 ’19: $3.1BQ4 ’19Q1 ’20: $3.2BQ2 ’20: $3.4BQ3 ’20: $4.1BQ4 ’20: $5.1BQ4 ’20Q1 ’21: $4.8BQ2 ’21: $5.6BQ3 ’21: $5.1BQ4 ’21: $4.8BQ4 ’21Q1 ’22: $4.5BQ2 ’22: $4.8BQ3 ’22: $5.0BQ4 ’22: $4.8BQ4 ’22Q1 ’23: $4.5BQ2 ’23: $4.7BQ3 ’23: $4.5BQ4 ’23: $5.4BQ4 ’23Q1 ’24: $5.7BQ2 ’24: $6.0BQ3 ’24: $6.7BQ4 ’24: $5.3BQ4 ’24Q1 ’25: $5.1BQ2 ’25: $5.5BQ3 ’25: $6.6BQ4 ’25: $7.8BQ4 ’25Q1 ’26: $8.5Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 51.9%US DOMESTIC: 43.2%Other: 4.9%ADR: 0.0%Equity WRT: 0.0%
  • Common Stock · 51.9% · $2.5B
  • US DOMESTIC · 43.2% · $2.1B
  • Other · 4.9% · $236M
  • ADR · 0.0% · $1M
  • Equity WRT · 0.0% · $444,891

Quarter-over-Quarter Changes full breakdown →

vs Q3 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BROOKDALE SR LIVING INCNEW+145.96M145.96M+$112M$112M
AMLXAMYLYX PHARMACEUTICALS INCNEW+2.69M2.69M+$100M$100M
SPRYARS PHARMACEUTICALS INCNEW+11.08M11.08M+$94M$94M
PCVXVAXCYTE INCNEW+700.0K700.0K+$34M$34M
NEWAMSTERDAM PHARMA COMPANYNEW+2.48M2.48M+$27M$27M
ACHOWENS & MINOR INC NEWNEW+1.18M1.18M+$23M$23M
RAIN ONCOLOGY INCNEW+2.80M2.80M+$22M$22M
DNLIDENALI THERAPEUTICS INCNEW+800.0K800.0K+$22M$22M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2022

48 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NUVLNUVALENT INChistory →COM12.32%$595M19.99M
2GLAUKOS CORPNOTE 2.750% 6/16.47%$313M271.75M
3INVITAE CORPNOTE 2.000% 9/03.95%$191M241.87M
4NBIXNEUROCRINE BIOSCIENCES INChistory →COM3.74%$181M1.51M
5SAREPTA THERAPEUTICS INCDBCV 1.500%11/13.42%$165M88.66M
6INTERCEPT PHARMACEUTICALS INNOTE 3.500% 2/1 · NOTE 3.250% 7/03.14%$152M156.15M
7B7SBROOKDALE SR LIVING INCNOTE 2.000%10/1 · COM3.04%$147M158.63M
8AHCOADAPTHEALTH CORPhistory →COMMON STOCK3.03%$147M7.63M
9IONIS PHARMACEUTICALS INCNOTE 4/02.45%$118M127.80M
10TABULA RASA HEALTHCARE INCNOTE 1.750% 2/12.37%$115M144.52M
11VTRSVIATRIS INChistory →COM2.30%$111M10.00M
12CN2CATALYST PHARMACEUTICALS INChistory →COM2.27%$109M5.88M
13NATERA INCNOTE 2.250% 5/02.24%$108M84.91M
14AMLXAMYLYX PHARMACEUTICALS INChistory →COM2.06%$100M2.69M
15INSMED INCNOTE 1.750% 1/11.98%$96M102.70M
16NUVASIVE INCNOTE 1.000% 6/01.97%$95M96.97M
17AMEDAMEDISYS INChistory →COM1.96%$95M1.14M
18SPRYARS PHARMACEUTICALS INChistory →COM1.96%$94M11.08M
19APELLIS PHARMACEUTICALS INCNOTE 3.500% 9/11.64%$79M51.88M
20OAK STR HEALTH INCNOTE 3/11.57%$76M100.00M
21SILKUSDSILK RD MED INChistory →COM1.53%$74M1.40M
22PACIRA BIOSCIENCES INCNOTE 0.750% 8/01.52%$74M81.60M
23OPHTEURIVERIC BIO INChistory →COM1.52%$73M3.42M
24ACCOLADE INCNOTE 0.500% 4/01.52%$73M105.00M
25LRMRLARIMAR THERAPEUTICS INChistory →COM1.45%$70M16.94M
26CAREMAX INCCOM CL A1.20%$58M15.86M
27NANOSTRING TECHNOLOGIES INCNOTE 2.625% 3/01.17%$57M70.20M
28GUARDANT HEALTH INCNOTE 11/11.15%$56M89.04M
29CNCCENTENE CORP DELhistory →COM0.96%$46M565.0K
30HILLEVAX INCCOM0.93%$45M2.69M
31PHRPHREESIA INChistory →COM0.92%$44M1.37M
32LIVONGO HEALTH INCNOTE 0.875% 6/00.91%$44M50.00M
33ALPHATEC HLDGS INCNOTE 0.750% 8/00.90%$44M48.05M
34MIRMMIRUM PHARMACEUTICALS INChistory →COM0.82%$40M2.03M
35EHABUSDENHABIT INChistory →COM0.82%$39M3.00M
361LIFE HEALTHCARE INCNOTE 3.000% 6/10.81%$39M40.60M
37DCPHEURDECIPHERA PHARMACEUTICALS INhistory →COM0.80%$39M2.35M
38MERUS N VCOM0.76%$37M2.38M
39ANABANAPTYSBIO INChistory →COM0.75%$36M1.16M
40EWTXEDGEWISE THERAPEUTICS INChistory →COM0.73%$35M3.93M
41COGTCOGENT BIOSCIENCES INChistory →COM0.71%$34M2.97M
42PCVXVAXCYTE INChistory →COM0.69%$34M700.0K
43IDYAIDEAYA BIOSCIENCES INChistory →COM0.66%$32M1.74M
44IMGNEURIMMUNOGEN INChistory →COM0.65%$32M6.36M
45PTC THERAPEUTICS INCNOTE 1.500% 9/10.65%$31M32.00M
46KURAKURA ONCOLOGY INChistory →COM0.61%$30M2.38M
47BLUBELLUS HEALTH INC NEWhistory →COM NEW0.61%$29M3.58M
48430TERNS PHARMACEUTICALS INChistory →COM0.60%$29M2.85M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$8.5B82May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$7.8B150Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$6.6B152Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$5.5B124Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$5.1B123May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$5.3B106Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$6.7B443Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$6.0B433Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$5.7B367May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$5.4B222Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$4.5B88Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$4.7B101Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$4.5B106May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$4.8B104Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$5.0B132Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$4.8B127Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$4.5B122May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$4.8B127Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$5.1B133Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$5.6B143Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$4.8B133May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$5.1B129Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$4.1B105Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$3.4B93Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$3.2B90May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$3.1B76Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$2.5B95Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$2.8B97Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$2.6B93May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$2.5B99Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • Flynn Management LLC028-11827

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.