Defilade Capital Management, L.P.

Registered adviser

CIK

2088557

Location

EMERYVILLE, CA

Portfolio Value

Small $746,949,621

Diversification

Diversified

Filing Date

Global Rank

#2,998 / 8,817 ▼ 117

Top Industry

Biotechnology 38.9%

3Y Alpha vs SPY

-14.2%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

3 quarters · since Dec 2025

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 337997

Roster of Oct 1, 2026

Regulatory AUM

$1,548,605,368

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

1 fund · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$1,548,605,368 gross assets

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$1,548,605,368	Pooled investment vehicles (100%)
Jan 2026 to Mar 2026	$644,056,077	Pooled investment vehicles (100%)
Dec 2025	$0	—

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 46.5%, 29.2 effective positions, active share 97.5% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Turnover unknown

It needs four straight quarters of measured turnover

Horizon

Short horizon

Value-weighted holding period 1.9 quarters (under 4)

Closest benchmark: the S&P 500 as of 2026-06-30, active share 97.5%; sector active share 90.9% against the combined 13F book's sector weights.

Over time 3 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

39 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

6.3%

−1.2 pts

Top 5

27.6%

−3.5 pts

Top 10

46.5%

−7.1 pts

HHI

343

Diversified−82

Portfolio Trend

3 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$746,949,621	39

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

9 positions

Ticker	Company	Δ Shares	Shares	Value
PFE	Pfizer Inc	+307,614	1,771,743	$42,663,571
ORIC	Oric Pharmaceuticals, Inc.	+204,762	1,047,690	$11,346,482
EVMN	Evommune, Inc.	+114,556	793,145	$10,540,897
INSM	INSMED Inc	+86,929	281,838	$30,049,567
PTCT	Ptc Therapeutics, Inc.	+57,534	433,699	$35,376,827
ASND	Ascendis Pharma A/S	+42,948	94,843	$25,296,524
COGT	Cogent Biosciences, Inc.	+40,851	393,441	$15,226,166
LLY	ELI LILLY & Co	+18,390	39,086	$46,880,924
OCUL	Ocular Therapeutix, Inc	+2,641	1,490,286	$14,634,608
No positions match the current search.

Trimmed

Positions the filer reduced

10 positions

Ticker	Company	Δ Shares	Shares	Value
DNLI	Denali Therapeutics Inc.	−968,103	391,866	$10,078,793
OLMA	Olema Pharmaceuticals, Inc.	−579,778	924,758	$11,568,722
PACS	PACS Group, Inc.	−388,505	215,675	$9,196,382
ZBH	Zimmer Biomet Holdings, Inc.	−261,735	317,426	$27,327,204
RVMD	Revolution Medicines, Inc.	−233,145	82,827	$15,511,840
GMED	Globus Medical Inc	−214,713	139,637	$11,032,719
ICUI	Icu Medical Inc	−148,591	105,700	$15,495,620
LNTH	Lantheus Holdings, Inc.	−116,739	132,662	$14,717,522
ELAN	Elanco Animal Health Inc	−67,041	864,080	$21,265,008
ELDN	Eledon Pharmaceuticals, Inc.	−38,789	3,525,338	$13,889,831
No positions match the current search.

New Positions

Positions the filer opened this quarter

19 positions

Ticker	Company	Shares	Value
VEEV	Veeva Systems Inc	236,709	$42,008,746
BMRN	Biomarin Pharmaceutical Inc	682,005	$39,024,326
BAX	Baxter International Inc	1,459,380	$31,113,981
PODD	Insulet Corp	176,932	$26,937,897
TMO	Thermo Fisher Scientific Inc.	51,934	$26,037,630
ABT	Abbott Laboratories	285,778	$25,931,495
SOLV	Solventum Corp	316,454	$24,414,426
MDT	Medtronic plc	303,301	$23,727,237
AGIO	Agios Pharmaceuticals, Inc.	546,848	$20,293,529
NVST	Envista Holdings Corp	726,108	$19,132,945
TYRA	Tyra Biosciences, Inc.	376,870	$12,037,227
LRMR	Larimar Therapeutics, Inc.	3,670,135	$11,193,911
ENOV	Enovis CORP	531,945	$11,011,261
TFX	Teleflex Inc	80,118	$10,155,757
GKOS	GLAUKOS Corp	66,519	$9,296,695
STAA	Staar Surgical Co	322,126	$9,241,794
—		239,440	$8,959,844
LIVN	LivaNova PLC	107,373	$8,829,281
BDTX	Black Diamond Therapeutics, Inc.	1,674,999	$3,098,748
No positions match the current search.

Sold Out

Positions the filer fully exited

11 positions

Ticker	Company	Shares	Value
HSIC	Henry Schein Inc	624,037	$45,991,526
BDX	Becton Dickinson & Co	279,210	$43,900,188
DXCM	Dexcom Inc	538,762	$33,834,253
ISRG	Intuitive Surgical Inc	67,681	$31,200,264
NBIX	Neurocrine Biosciences Inc	209,932	$27,656,441
ITGR	Integer Holdings Corp	213,027	$18,746,376
BIIB	Biogen Inc.	96,289	$17,652,662
TNDM	Tandem Diabetes Care Inc	761,905	$14,605,718
ALGN	Align Technology Inc	67,332	$11,542,724
BHVN	Biohaven Ltd.	315,944	$2,672,886
—		129,950	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

39 tracked positions · $746,949,621 total · filing declares 39 positions · $746,947,371 · as of Jun 30, 2026

All sectors Healthcare

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
LLY	ELI LILLY & Co Healthcare	Added	39,086	+18,390	$46,880,924	+146.3%	3	before history	6.28%
PFE	Pfizer Inc Healthcare	Added	1,771,743	+307,614	$42,663,571	+3.8%	3	before history	5.71%
VEEV	Veeva Systems Inc Healthcare	NEW	236,709	NEW	$42,008,746	NEW	1	$164.89	5.62%
BMRN	Biomarin Pharmaceutical Inc Healthcare	NEW	682,005	NEW	$39,024,326	NEW	1	$54.78	5.22%
PTCT	Ptc Therapeutics, Inc. Healthcare	Added	433,699	+57,534	$35,376,827	+38.0%	2	$71.00	4.74%
BAX	Baxter International Inc Healthcare	NEW	1,459,380	NEW	$31,113,981	NEW	1	$18.64	4.17%
INSM	INSMED Inc Healthcare	Added	281,838	+86,929	$30,049,567	−5.7%	3	before history	4.02%
ZBH	Zimmer Biomet Holdings, Inc. Healthcare	Reduced	317,426	-261,735	$27,327,204	−47.8%	2	$91.76	3.66%
PODD	Insulet Corp Healthcare	NEW	176,932	NEW	$26,937,897	NEW	1	$166.60	3.61%
TMO	Thermo Fisher Scientific Inc. Healthcare	NEW	51,934	NEW	$26,037,630	NEW	1	$480.05	3.49%
ABT	Abbott Laboratories Healthcare	NEW	285,778	NEW	$25,931,495	NEW	1	$91.27	3.47%
ASND	Ascendis Pharma A/S Healthcare	Added	94,843	+42,948	$25,296,524	+113.1%	3	before history	3.39%
SOLV	Solventum Corp Healthcare	NEW	316,454	NEW	$24,414,426	NEW	1	$72.92	3.27%
MDT	Medtronic plc Healthcare	NEW	303,301	NEW	$23,727,237	NEW	1	$80.67	3.18%
ELAN	Elanco Animal Health Inc Healthcare	Reduced	864,080	-67,041	$21,265,008	−4.6%	3	before history	2.85%
AGIO	Agios Pharmaceuticals, Inc. Healthcare	NEW	546,848	NEW	$20,293,529	NEW	1	$30.34	2.72%
NVST	Envista Holdings Corp Healthcare	NEW	726,108	NEW	$19,132,945	NEW	1	$25.23	2.56%
RVMD	Revolution Medicines, Inc. Healthcare	Reduced	82,827	-233,145	$15,511,840	−49.5%	3	before history	2.08%
ICUI	Icu Medical Inc Healthcare	Reduced	105,700	-148,591	$15,495,620	−52.8%	3	before history	2.07%
COGT	Cogent Biosciences, Inc. Healthcare	Added	393,441	+40,851	$15,226,166	+12.2%	3	before history	2.04%
LNTH	Lantheus Holdings, Inc. Healthcare	Reduced	132,662	-116,739	$14,717,522	−22.2%	2	$71.79	1.97%
OCUL	Ocular Therapeutix, Inc Healthcare	Added	1,490,286	+2,641	$14,634,608	+16.1%	3	before history	1.96%
ELDN	Eledon Pharmaceuticals, Inc. Healthcare	Reduced	3,525,338	-38,789	$13,889,831	+26.5%	3	before history	1.86%
TYRA	Tyra Biosciences, Inc. Healthcare	NEW	376,870	NEW	$12,037,227	NEW	1	$33.08	1.61%
OLMA	Olema Pharmaceuticals, Inc. Healthcare	Reduced	924,758	-579,778	$11,568,722	−48.4%	3	before history	1.55%
ORIC	Oric Pharmaceuticals, Inc. Healthcare	Added	1,047,690	+204,762	$11,346,482	+6.2%	2	$10.91	1.52%
LRMR	Larimar Therapeutics, Inc. Healthcare	NEW	3,670,135	NEW	$11,193,911	NEW	1	$3.97	1.50%
GMED	Globus Medical Inc Healthcare	Reduced	139,637	-214,713	$11,032,719	−63.9%	3	before history	1.48%
ENOV	Enovis CORP Healthcare	NEW	531,945	NEW	$11,011,261	NEW	1	$23.58	1.47%
EVMN	Evommune, Inc. Healthcare	Added	793,145	+114,556	$10,540,897	−32.4%	3	before history	1.41%
TFX	Teleflex Inc Healthcare	NEW	80,118	NEW	$10,155,757	NEW	1	$128.01	1.36%
DNLI	Denali Therapeutics Inc. Healthcare	Reduced	391,866	-968,103	$10,078,793	−61.4%	3	before history	1.35%
GKOS	GLAUKOS Corp Healthcare	NEW	66,519	NEW	$9,296,695	NEW	1	$126.51	1.24%
STAA	Staar Surgical Co Healthcare	NEW	322,126	NEW	$9,241,794	NEW	1	$27.80	1.24%
PACS	PACS Group, Inc. Healthcare	Reduced	215,675	-388,505	$9,196,382	−52.6%	3	before history	1.23%
		NEW	239,440	NEW	$8,959,844	NEW	1	$37.17	1.20%
LIVN	LivaNova PLC Healthcare	NEW	107,373	NEW	$8,829,281	NEW	1	$70.72	1.18%
BDTX	Black Diamond Therapeutics, Inc. Healthcare	NEW	1,674,999	NEW	$3,098,748	NEW	1	$2.45	0.41%
MREO	Mereo BioPharma Group plc Healthcare	Held	7,558,756	0	$2,403,684	−3.6%	2	$0.43	0.32%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.