Defilade Capital Management, L.P.
Filing Date
Global Rank
#2,135
/ 8,603
▲ 22
· as of Mar 2026
Top Industry
Biotechnology
32.4%
3Y Alpha vs SPY
-12.5%
Period ended 3 months ago
Filed May 14, 2026 · 56d
2 quarters · since Dec 2025
Clone Performance
Feb 2026–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+5.7%
SPY
+10.0%
Annualised alpha
-12.1%
Max drawdown
−12.9%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
31 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
7.4%
−0.1 pts
Top 5
30.5%
−3.5 pts
Top 10
52.6%
−2.8 pts
HHI
413
Diversified−20
Portfolio Trend
2 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 100.0% | $712,175,977 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
12 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| OCUL | Ocular Therapeutix, Inc | +805,982 | 1,487,645 | $12,600,353 | |
| DNLI | Denali Therapeutics Inc. | +703,256 | 1,359,969 | $26,111,404 | |
| ELAN | Elanco Animal Health Inc | +529,838 | 931,121 | $22,281,725 | |
| EVMN | Evommune, Inc. | +463,171 | 678,589 | $15,600,761 | |
| HSIC | Henry Schein Inc | +303,615 | 624,037 | $45,991,526 | |
| DXCM | Dexcom Inc | +293,881 | 538,762 | $33,834,253 | |
| ELDN | Eledon Pharmaceuticals, Inc. | +273,677 | 3,564,127 | $10,977,511 | |
| OLMA | Olema Pharmaceuticals, Inc. | +269,902 | 1,504,536 | $22,432,631 | |
| BDX | Becton Dickinson & Co | +198,003 | 279,210 | $43,900,188 | |
| INSM | INSMED Inc | +144,909 | 194,909 | $31,871,519 | |
| GMED | Globus Medical Inc | +87,138 | 354,350 | $30,530,796 | |
| ISRG | Intuitive Surgical Inc | +22,019 | 67,681 | $31,200,264 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
10 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| PFE | Pfizer Inc | −739,375 | 1,464,129 | $41,112,742 | |
| PACS | PACS Group, Inc. | −541,305 | 604,180 | $19,406,261 | |
| COGT | Cogent Biosciences, Inc. | −216,029 | 352,590 | $13,571,189 | |
| NUVL | Nuvalent, Inc. | −139,093 | 129,950 | $13,313,377 | |
| ICUI | Icu Medical Inc/De | −86,454 | 254,291 | $32,841,682 | |
| BIIB | Biogen Inc. | −65,703 | 96,289 | $17,652,662 | |
| ALGN | Align Technology Inc | −60,728 | 67,332 | $11,542,724 | |
| RVMD | Revolution Medicines, Inc. | −47,482 | 315,972 | $30,728,277 | |
| ASND | Ascendis Pharma A/S | −33,799 | 51,895 | $11,869,943 | |
| LLY | ELI LILLY & Co | −11,254 | 20,696 | $19,035,559 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
9 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| ZBH | Zimmer Biomet Holdings, Inc. | 579,161 | $52,367,737 | |
| NBIX | Neurocrine Biosciences Inc | 209,932 | $27,656,441 | |
| PTCT | Ptc Therapeutics, Inc. | 376,165 | $25,628,121 | |
| LNTH | Lantheus Holdings, Inc. | 249,401 | $18,917,065 | |
| ITGR | Integer Holdings Corp | 213,027 | $18,746,376 | |
| TNDM | Tandem Diabetes Care Inc | 761,905 | $14,605,718 | |
| ORIC | Oric Pharmaceuticals, Inc. | 842,928 | $10,679,897 | |
| BHVN | Biohaven Ltd. | 315,944 | $2,672,886 | |
| MREO | Mereo BioPharma Group plc | 7,558,756 | $2,494,389 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
11 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| ABBV | AbbVie Inc. | 227,669 | $52,020,089 | |
| NVS | Novartis AG | 362,816 | $50,021,441 | |
| STE | STERIS plc | 135,307 | $34,303,030 | |
| XNCR | Xencor Inc | 1,414,755 | $21,659,899 | |
| ATRC | AtriCure, Inc. | 397,636 | $15,730,480 | |
| LIVN | LivaNova PLC | 241,413 | $14,854,141 | |
| ATEC | Alphatec Holdings, Inc. | 626,754 | $13,186,904 | |
| GKOS | GLAUKOS Corp | 91,703 | $10,354,185 | |
| RXST | RxSight, Inc. | 913,090 | $9,514,397 | |
| TFX | Teleflex Inc | 42,850 | $5,229,414 | |
| CNMD | CONMED Corp | 104,129 | $4,227,637 | |
| No positions match the current search. | ||||
31 positions ·
$712,175,977 total
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| ZBH |
Zimmer Biomet Holdings, Inc.
Healthcare
|
NEW | 579,161 | $52,367,737 | 7.35% | |
| HSIC |
Henry Schein Inc
Healthcare
|
Added | 624,037 | $45,991,526 | 6.46% | |
| BDX |
Becton Dickinson & Co
Healthcare
|
Added | 279,210 | $43,900,188 | 6.16% | |
| PFE |
Pfizer Inc
Healthcare
|
Reduced | 1,464,129 | $41,112,742 | 5.77% | |
| DXCM |
Dexcom Inc
Healthcare
|
Added | 538,762 | $33,834,253 | 4.75% | |
| ICUI |
Icu Medical Inc/De
Healthcare
|
Reduced | 254,291 | $32,841,682 | 4.61% | |
| INSM |
INSMED Inc
Healthcare
|
Added | 194,909 | $31,871,519 | 4.48% | |
| ISRG |
Intuitive Surgical Inc
Healthcare
|
Added | 67,681 | $31,200,264 | 4.38% | |
| RVMD |
Revolution Medicines, Inc.
Healthcare
|
Reduced | 315,972 | $30,728,277 | 4.31% | |
| GMED |
Globus Medical Inc
Healthcare
|
Added | 354,350 | $30,530,796 | 4.29% | |
| NBIX |
Neurocrine Biosciences Inc
Healthcare
|
NEW | 209,932 | $27,656,441 | 3.88% | |
| DNLI |
Denali Therapeutics Inc.
Healthcare
|
Added | 1,359,969 | $26,111,404 | 3.67% | |
| PTCT |
Ptc Therapeutics, Inc.
Healthcare
|
NEW | 376,165 | $25,628,121 | 3.60% | |
| OLMA |
Olema Pharmaceuticals, Inc.
Healthcare
|
Added | 1,504,536 | $22,432,631 | 3.15% | |
| ELAN |
Elanco Animal Health Inc
Healthcare
|
Added | 931,121 | $22,281,725 | 3.13% | |
| PACS |
PACS Group, Inc.
Healthcare
|
Reduced | 604,180 | $19,406,261 | 2.72% | |
| LLY |
ELI LILLY & Co
Healthcare
|
Reduced | 20,696 | $19,035,559 | 2.67% | |
| LNTH |
Lantheus Holdings, Inc.
Healthcare
|
NEW | 249,401 | $18,917,065 | 2.66% | |
| ITGR |
Integer Holdings Corp
Healthcare
|
NEW | 213,027 | $18,746,376 | 2.63% | |
| BIIB |
Biogen Inc.
Healthcare
|
Reduced | 96,289 | $17,652,662 | 2.48% | |
| EVMN |
Evommune, Inc.
Healthcare
|
Added | 678,589 | $15,600,761 | 2.19% | |
| TNDM |
Tandem Diabetes Care Inc
Healthcare
|
NEW | 761,905 | $14,605,718 | 2.05% | |
| COGT |
Cogent Biosciences, Inc.
Healthcare
|
Reduced | 352,590 | $13,571,189 | 1.91% | |
| NUVL |
Nuvalent, Inc.
Healthcare
|
Reduced | 129,950 | $13,313,377 | 1.87% | |
| OCUL |
Ocular Therapeutix, Inc
Healthcare
|
Added | 1,487,645 | $12,600,353 | 1.77% | |
| ASND |
Ascendis Pharma A/S
Healthcare
|
Reduced | 51,895 | $11,869,943 | 1.67% | |
| ALGN |
Align Technology Inc
Healthcare
|
Reduced | 67,332 | $11,542,724 | 1.62% | |
| ELDN |
Eledon Pharmaceuticals, Inc.
Healthcare
|
Added | 3,564,127 | $10,977,511 | 1.54% | |
| ORIC |
Oric Pharmaceuticals, Inc.
Healthcare
|
NEW | 842,928 | $10,679,897 | 1.50% | |
| BHVN |
Biohaven Ltd.
Healthcare
|
NEW | 315,944 | $2,672,886 | 0.38% | |
| MREO |
Mereo BioPharma Group plc
Healthcare
|
NEW | 7,558,756 | $2,494,389 | 0.35% |