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DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)

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NEW YORK NY Investment Advisor Hedge Fund Activist Investor
13F Summary

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85

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Deerfield Management Company, L.p. (series C) is based out of New York. Deerfield Management Company, L.p. (series C) is a hedge fund with 12 clients and discretionary assets under management (AUM) of $16,117,395,447 (Form ADV from 2024-03-28). Their last reported 13F filing for Q2 2024 included $6,010,510,629 in managed 13F securities and a top 10 holdings concentration of 51.52%. Deerfield Management Company, L.p. (series C)'s largest holding is Nuvalent Inc with shares held of 19,991,024. Whalewisdom has at least 103 13F filings, 10 13D filings, and 59 Form 4 filings
Business Description
Deerfield Management Company, L.P. provides discretionary investment management services in the healthcare sector to domestic and offshore private pooled investment vehicles and their related alternative investment vehicles. The firm has been managing funds since January 13, 1994, and is wholly owned by its Managing Partner, Mr. James E. Flynn. The firm has established an advisory board that the Managing Partner consults with on a periodic basis regarding the firm's management of the funds. The advisory board consists of representatives of institutional investors selected by the Managing Partner. The firm has accepted two investors in a Private Design Fund vintage that were introduced by a solicitor with whom the firm no longer has an ongoing arrangement. The firm recently entered into a consulting agreement with an individual to provide professional services and strategic advice relating to business development opportunities in the Middle East. This individual assists the firm in developing its business by making introductions through a variety of methods, including potential non-U.S. investors.
Investment Strategy
The Firm employs three partially overlapping investment strategies: Public Securities Strategy, Private Design Strategy, and the third strategy which is not mentioned in the provided context. The Public Securities Strategy focuses on investing in debt and equity securities of publicly traded companies in the healthcare sector. This strategy aims for capital appreciation through a diversified portfolio of stocks, debt, and derivative securities, including both long and short positions. The Firm utilizes fundamental analysis, quantitative techniques, and algorithmic strategies to make investment decisions. The Private Design Strategy is not fully described in the provided context. However, it is mentioned that the Firm reviews the portfolio of this strategy on a daily basis to determine whether positions should be added, removed, or adjusted based on the strategy's objectives, the Firm's research, and the composition of the Fund's portfolio. The Firm adjusts its trading activities daily based on this review.
Owners
  • FLYNN MANAGEMENT LLC - GENERAL PARTNER
  • FLYNN MANAGEMENT LLC - GENERAL PARTNER
  • FLYNN, JAMES, EDWARD - PRESIDENT
  • FLYNN, JAMES, EDWARD - PRESIDENT
  • CLARK, DAVID, JUSTUS - GENERAL COUNSEL
  • CLARK, DAVID, JUSTUS - GENERAL COUNSEL
  • ISLER, JONATHAN, DAVID - CHIEF FINANCIAL OFFICER, FUNDS
  • ISLER, JONATHAN, DAVID - CHIEF FINANCIAL OFFICER, FUNDS
  • CAZ�, ALEXIS - CHIEF OPERATING OFFICER
  • CAZ�, ALEXIS - CHIEF OPERATING OFFICER
  • SENDROWSKI, BRYAN, SCOTT - CHIEF FINANCIAL OFFICER
  • SENDROWSKI, BRYAN, SCOTT - CHIEF FINANCIAL OFFICER
  • SNETIKER, ROBERT, TODD - CHIEF COMPLIANCE OFFICER
  • SNETIKER, ROBERT, TODD - CHIEF COMPLIANCE OFFICER
  • Click on the Ownership/Private Fund Data tab for more details.
Other Contact Information
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2024-06-30

Top Buys (13F)

Name % Change
INSM-NOTE INSMED INC NOTE 1.75 (PRN) 2.14%
WAY Waystar Holding Corp 1.77%
GILD Gilead Sciences Inc 1.7%
DEBT-MIRU MIRUM PHARMACEUTICAL (PRN) 1.56%
DEBT-INTE INTEGRA LIFESCIENCES (PRN) 1.02%

2024-06-30

Top Sells (13F)

2024-06-30

13F Holdings Summary

Name $ Change
NUVL Nuvalent Inc 25.23%
INSM-NOTE INSMED INC NOTE 1.75(PRN) 4.3%
VTRS Viatris Inc 3.78%
CNC Centene Corp 2.92%
DEBT-INTE INTEGRA LIFESCIENCES(PRN) 2.74%

2024-06-30

13F Activity

Market Value $6.01b, Prior: $5.75b
Inflows (Outflows) as % of Total MV +8.7898%
New Purchases 225 stocks
Added To 128 stocks
Sold out of 159 stocks
Reduced holdings in 42 stocks
Top 10 Holdings % 51.52%
Turnover %[1] 64.86%
Turnover Alt %[2] 9.87%
Time Held Top 20 5.8 quarters
Time Held Top 10 2.8 quarters
Time Held All 1.86 quarters

[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.

[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-06-30

13F Sector Allocation Over Time

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2024-06-30

Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-06-30

Portfolio Performance