DEERFIELD MANAGEMENT COMPANY, L.P. 13F: Quarter-over-Quarter Portfolio Changes
DEERFIELD MANAGEMENT COMPANY, L.P. reported a disclosed portfolio value of approximately $9.6 billion in its latest SEC Form 13F-HR filing for Q2 2026, up 13.1% quarter on quarter. Over the quarter, the fund initiated 13 new positions, bought more shares in 13 holdings, trimmed 11 holdings, and exited 21 positions.
DEERFIELD MANAGEMENT COMPANY, L.P.'s top buy was a new stake in Brookdale Sr Living INC (UNKNOWN) , equal to 15.2% of the disclosed portfolio. Its top sell was Brookdale Sr Living INC (BKD 3.5 10/15/29) . The fund exited the position completely after it had accounted for 6.0% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| BROOKDALE SR LIVING INC | UNKNOWN | 15.2% | History → |
| MINERALYS THERAPEUTICS INC | MLYS | 1.1% | Holders → |
| IONIS PHARMACEUTICALS INC | SYN_462222AF7 | 1.0% | Holders → |
| BOSTON SCIENTIFIC CORP | BSX | 0.6% | Holders → |
| PARABILIS MEDICINES INC | PBLS | 0.5% | Holders → |
| AVALYN PHARMACEUTICALS INC | AVLN | 0.3% | Holders → |
| ODYSSEY THERAPEUTICS INC | ODTX | 0.2% | Holders → |
| ALAMAR BIOSCIENCES INC | ALMR | 0.2% | Holders → |
| CHEMED CORP NEW | CHE | 0.1% | Holders → |
| ADAGENE INC | ADAG | 0.1% | Holders → |
| HEMAB THERAPEUTICS HLDGS INC | COAG | 0.1% | Holders → |
| MOBIA MED INC | MOBI | 0.1% | Holders → |
| MIRUM PHARMACEUTICALS INC | MIRM | 0.0% | Holders → |
Top BuysQ2 2026
Showing the top 10 buys among 13 existing positions where the fund bought more shares in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| GENMAB A/S | GMAB | +1.2% | +178.8% | History → |
| TYRA BIOSCIENCES INC | TYRA | +0.1% | +85.2% | Holders → |
| IDEAYA BIOSCIENCES INC | IDYA | +0.5% | +77.4% | Holders → |
| BIOMARIN PHARMACEUTICAL INC | BMRN | +0.2% | +56.5% | Holders → |
| STRUCTURE THERAPEUTICS INC | GPCR | +0.2% | +41.4% | Holders → |
| BELITE BIO INC | BLTE | +0.0% | +17.5% | Holders → |
| DIANTHUS THERAPEUTICS INC | DNTH | +0.1% | +10.3% | Holders → |
| PHARVARIS N V | PHVS | +0.2% | +8.0% | Holders → |
| LEGEND BIOTECH CORP | LEGN | +0.8% | +5.9% | History → |
| VERA THERAPEUTICS INC | VERA | +-0.0% | +5.2% | Holders → |
Top SellsQ2 2026
Showing the top 10 sells among 11 existing positions where the fund sold shares in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| VERACYTE INC | VCYT | -0.2% | 86.1% | Holders → |
| INSPIRE MED SYS INC | INSP | -1.0% | 52.0% | Holders → |
| INDIVIOR PLC | INDV | -0.4% | 46.8% | Holders → |
| COGENT BIOSCIENCES INC | COGT | -2.1% | 44.6% | History → |
| SIONNA THERAPEUTICS INC | SION | -0.1% | 29.8% | Holders → |
| CENTENE CORP DEL | CNC | 1.0% | 17.2% | History → |
| CELCUITY INC | CELC | -0.7% | 15.3% | Holders → |
| ARROWHEAD PHARMACEUTICALS IN | ARWR | 0.0% | 11.7% | Holders → |
| LANTHEUS HLDGS INC | LNTH | 0.1% | 9.1% | Holders → |
| CAREDX INC | CDNA | 0.1% | 8.8% | Holders → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| BROOKDALE SR LIVING INC | BKD 3.5 10/15/29 | 6.0% |
| MIRUM PHARMACEUTICALS INC | MIRM 4 05/01/29 | 2.5% |
| ARROWHEAD PHARMACEUTICALS IN | ARWR 0 01/15/32 | 2.4% |
| CATALYST PHARMACEUTICALS INC | CPRX | 1.2% |
| IONIS PHARMACEUTICALS INC | IONS 1.75 06/15/28 | 1.1% |
| ALIGNMENT HEALTHCARE INC | ALHC 4.25 11/15/29 | 1.0% |
| NEUROCRINE BIOSCIENCES INC | NBIX | 0.9% |
| DAY ONE BIOPHARMACEUTICALS I | DAWNGBX | 0.9% |
| ZENAS BIOPHARMA INC | ZBIO 2.5 04/01/32 | 0.8% |
| ENHABIT INC | EHAB | 0.8% |
| NEOGENOMICS INC | NEO 0.25 01/15/28 | 0.8% |
| KYMERA THERAPEUTICS INC | KYMR | 0.6% |
| LIVANOVA PLC | LIVN 2.5 03/15/29 | 0.5% |
| IMMUNOCORE HLDGS PLC | IMCR 2.5 02/01/30 | 0.3% |
| COMPASS THERAPEUTICS INC | CMPX | 0.2% |
| TAYSHA GENE THERAPIES INC | TSHA | 0.1% |
| CULLINAN THERAPEUTICS INC | CGEM | 0.1% |
| BIOMX INC | PHGE | 0.0% |
| VERADERMICS INC | MANE | 0.0% |
| QUANTUM SI INC | QSIAW | 0.0% |
| MYRIAD GENETICS INC | MYGN | 0.0% |
Net Portfolio Value ChangeQ2 2026
- $8.5BPrior quarter
- $9.6BCurrent quarter
- +$1.1BNet delta
- +13.1%% change
Methodology & FAQ
How DEERFIELD MANAGEMENT COMPANY, L.P. Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for DEERFIELD MANAGEMENT COMPANY, L.P.: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did DEERFIELD MANAGEMENT COMPANY, L.P. buy in Q2 2026?
In Q2 2026, DEERFIELD MANAGEMENT COMPANY, L.P. initiated 13 new positions (BROOKDALE SR LIVING INC (UNKNOWN), MINERALYS THERAPEUTICS INC (MLYS), IONIS PHARMACEUTICALS INC (SYN_462222AF7), BOSTON SCIENTIFIC CORP (BSX), PARABILIS MEDICINES INC (PBLS), AVALYN PHARMACEUTICALS INC (AVLN), ODYSSEY THERAPEUTICS INC (ODTX), ALAMAR BIOSCIENCES INC (ALMR), CHEMED CORP NEW (CHE), ADAGENE INC (ADAG), HEMAB THERAPEUTICS HLDGS INC (COAG), MOBIA MED INC (MOBI), MIRUM PHARMACEUTICALS INC (MIRM)); bought more shares of GENMAB A/S (GMAB), TYRA BIOSCIENCES INC (TYRA), IDEAYA BIOSCIENCES INC (IDYA), BIOMARIN PHARMACEUTICAL INC (BMRN), STRUCTURE THERAPEUTICS INC (GPCR) (the largest 5 of 13 adds).
What stocks did DEERFIELD MANAGEMENT COMPANY, L.P. sell in Q2 2026?
In Q2 2026, DEERFIELD MANAGEMENT COMPANY, L.P. fully sold 21 positions (BROOKDALE SR LIVING INC (BKD 3.5 10/15/29), MIRUM PHARMACEUTICALS INC (MIRM 4 05/01/29), ARROWHEAD PHARMACEUTICALS IN (ARWR 0 01/15/32), CATALYST PHARMACEUTICALS INC (CPRX), IONIS PHARMACEUTICALS INC (IONS 1.75 06/15/28), ALIGNMENT HEALTHCARE INC (ALHC 4.25 11/15/29), NEUROCRINE BIOSCIENCES INC (NBIX), DAY ONE BIOPHARMACEUTICALS I (DAWNGBX), ZENAS BIOPHARMA INC (ZBIO 2.5 04/01/32), ENHABIT INC (EHAB), NEOGENOMICS INC (NEO 0.25 01/15/28), KYMERA THERAPEUTICS INC (KYMR), LIVANOVA PLC (LIVN 2.5 03/15/29), IMMUNOCORE HLDGS PLC (IMCR 2.5 02/01/30), COMPASS THERAPEUTICS INC (CMPX), TAYSHA GENE THERAPIES INC (TSHA), CULLINAN THERAPEUTICS INC (CGEM), BIOMX INC (PHGE), VERADERMICS INC (MANE), QUANTUM SI INC (QSIAW), MYRIAD GENETICS INC (MYGN)); reduced holdings in VERACYTE INC (VCYT), INSPIRE MED SYS INC (INSP), INDIVIOR PLC (INDV), COGENT BIOSCIENCES INC (COGT), SIONNA THERAPEUTICS INC (SION) (the largest 5 of 11 reductions).
Which positions did DEERFIELD MANAGEMENT COMPANY, L.P. initiate in Q2 2026?
DEERFIELD MANAGEMENT COMPANY, L.P. established 13 new positions in Q2 2026: BROOKDALE SR LIVING INC (UNKNOWN, 15.2%), MINERALYS THERAPEUTICS INC (MLYS, 1.1%), IONIS PHARMACEUTICALS INC (SYN_462222AF7, 1.0%), BOSTON SCIENTIFIC CORP (BSX, 0.6%), PARABILIS MEDICINES INC (PBLS, 0.5%), AVALYN PHARMACEUTICALS INC (AVLN, 0.3%), ODYSSEY THERAPEUTICS INC (ODTX, 0.2%), ALAMAR BIOSCIENCES INC (ALMR, 0.2%), CHEMED CORP NEW (CHE, 0.1%), ADAGENE INC (ADAG, 0.1%), HEMAB THERAPEUTICS HLDGS INC (COAG, 0.1%), MOBIA MED INC (MOBI, 0.1%), MIRUM PHARMACEUTICALS INC (MIRM, 0.0%).
Which existing positions saw the largest allocation increases for DEERFIELD MANAGEMENT COMPANY, L.P. in Q2 2026?
Of 13 existing positions with share-count increases in Q2 2026, the largest were: GENMAB A/S (GMAB, +1.2% weight, +178.8% shares), TYRA BIOSCIENCES INC (TYRA, +0.1% weight, +85.2% shares), IDEAYA BIOSCIENCES INC (IDYA, +0.5% weight, +77.4% shares), BIOMARIN PHARMACEUTICAL INC (BMRN, +0.2% weight, +56.5% shares), STRUCTURE THERAPEUTICS INC (GPCR, +0.2% weight, +41.4% shares), BELITE BIO INC (BLTE, +0.0% weight, +17.5% shares), DIANTHUS THERAPEUTICS INC (DNTH, +0.1% weight, +10.3% shares), PHARVARIS N V (PHVS, +0.2% weight, +8.0% shares), LEGEND BIOTECH CORP (LEGN, +0.8% weight, +5.9% shares), VERA THERAPEUTICS INC (VERA, +-0.0% weight, +5.2% shares).
Which positions did DEERFIELD MANAGEMENT COMPANY, L.P. fully exit in Q2 2026?
DEERFIELD MANAGEMENT COMPANY, L.P. fully exited 21 positions in Q2 2026: BROOKDALE SR LIVING INC (BKD 3.5 10/15/29, last-reported weight 6.0%), MIRUM PHARMACEUTICALS INC (MIRM 4 05/01/29, last-reported weight 2.5%), ARROWHEAD PHARMACEUTICALS IN (ARWR 0 01/15/32, last-reported weight 2.4%), CATALYST PHARMACEUTICALS INC (CPRX, last-reported weight 1.2%), IONIS PHARMACEUTICALS INC (IONS 1.75 06/15/28, last-reported weight 1.1%), ALIGNMENT HEALTHCARE INC (ALHC 4.25 11/15/29, last-reported weight 1.0%), NEUROCRINE BIOSCIENCES INC (NBIX, last-reported weight 0.9%), DAY ONE BIOPHARMACEUTICALS I (DAWNGBX, last-reported weight 0.9%), ZENAS BIOPHARMA INC (ZBIO 2.5 04/01/32, last-reported weight 0.8%), ENHABIT INC (EHAB, last-reported weight 0.8%), NEOGENOMICS INC (NEO 0.25 01/15/28, last-reported weight 0.8%), KYMERA THERAPEUTICS INC (KYMR, last-reported weight 0.6%), LIVANOVA PLC (LIVN 2.5 03/15/29, last-reported weight 0.5%), IMMUNOCORE HLDGS PLC (IMCR 2.5 02/01/30, last-reported weight 0.3%), COMPASS THERAPEUTICS INC (CMPX, last-reported weight 0.2%), TAYSHA GENE THERAPIES INC (TSHA, last-reported weight 0.1%), CULLINAN THERAPEUTICS INC (CGEM, last-reported weight 0.1%), BIOMX INC (PHGE, last-reported weight 0.0%), VERADERMICS INC (MANE, last-reported weight 0.0%), QUANTUM SI INC (QSIAW, last-reported weight 0.0%), MYRIAD GENETICS INC (MYGN, last-reported weight 0.0%).
Which existing positions saw the largest allocation reductions for DEERFIELD MANAGEMENT COMPANY, L.P. in Q2 2026?
Of 11 existing positions with share-count reductions in Q2 2026, the largest were: VERACYTE INC (VCYT, -0.2% weight, -86.1% shares), INSPIRE MED SYS INC (INSP, -1.0% weight, -52.0% shares), INDIVIOR PLC (INDV, -0.4% weight, -46.8% shares), COGENT BIOSCIENCES INC (COGT, -2.1% weight, -44.6% shares), SIONNA THERAPEUTICS INC (SION, -0.1% weight, -29.8% shares), CENTENE CORP DEL (CNC, 1.0% weight, -17.2% shares), CELCUITY INC (CELC, -0.7% weight, -15.3% shares), ARROWHEAD PHARMACEUTICALS IN (ARWR, 0.0% weight, -11.7% shares), LANTHEUS HLDGS INC (LNTH, 0.1% weight, -9.1% shares), CAREDX INC (CDNA, 0.1% weight, -8.8% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.