Defilade Capital Management, L.P.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Defilade Capital Management, L.P. reported 39 stock positions worth $746.9 million. Its top holding was Eli Lilly (LLY) at 6.3% of the portfolio, followed by Pfizer (PFE, 5.7%) and Veeva Systems Class A (VEEV, 5.6%). Compared with Q1 2026, it opened 19 new positions, sold out of 11, added to 9 and reduced 10. The biggest buy was a new position in Veeva Systems Class A (VEEV) and the biggest sale an exit from Henry Schein (HSIC).
- Most Recent 13F
- Q2 2026
- Location
- EMERYVILLE, CA
- CIK
- 0002088557
- Portfolio Value
- $746.9M (Q2 2026)
- SEC Filing
- 0002088557-26-000008 ↗ filed Aug 14, 2026
Holdings Value
Holdings 39 stocks · $746.9M
| LLY Eli Lilly & Co. | 6.28% | 39,086 | $46.9M | Add +88.9% |
| PFE Pfizer Inc. | 5.71% | 1,771,743 | $42.7M | Add +21.0% |
| VEEV Veeva Systems Inc. Class A | 5.62% | 236,709 | $42.0M | New |
| BMRN Biomarin Pharmaceutical Inc. | 5.22% | 682,005 | $39.0M | New |
| PTCT PTC Therapeutics Inc. | 4.74% | 433,699 | $35.4M | Add +15.3% |
| BAX Baxter International Inc. | 4.17% | 1,459,380 | $31.1M | New |
| INSM Insmed Inc. | 4.02% | 281,838 | $30.0M | Add +44.6% |
| ZBH Zimmer Biomet Holdings Inc. | 3.66% | 317,426 | $27.3M | Reduce -45.2% |
| PODD Insulet Corp. | 3.61% | 176,932 | $26.9M | New |
| TMO Thermo Fisher Scientific Inc. | 3.49% | 51,934 | $26.0M | New |
| ABT Abbott Laboratories | 3.47% | 285,778 | $25.9M | New |
| ASND Ascendis Pharma A/S | 3.39% | 94,843 | $25.3M | Add +82.8% |
| SOLV Solventum Corp. | 3.27% | 316,454 | $24.4M | New |
| MDT Medtronic PLC | 3.18% | 303,301 | $23.7M | New |
| ELAN Elanco Animal Health Inc. | 2.85% | 864,080 | $21.3M | Reduce -7.2% |
| AGIO Agios Pharmaceuticals Inc. | 2.72% | 546,848 | $20.3M | New |
| NVST Envista Holdings Corp. | 2.56% | 726,108 | $19.1M | New |
| RVMD Revolution Medicines Inc. | 2.08% | 82,827 | $15.5M | Reduce -73.8% |
| ICUI Icu Medical Inc. | 2.07% | 105,700 | $15.5M | Reduce -58.4% |
| COGT Cogent Biosciences Inc. | 2.04% | 393,441 | $15.2M | Add +11.6% |
| LNTH Lantheus Holdings Inc. | 1.97% | 132,662 | $14.7M | Reduce -46.8% |
| OCUL Ocular Therapeutix Inc. | 1.96% | 1,490,286 | $14.6M | Add +0.2% |
| ELDN Eledon Pharmaceuticals Inc. | 1.86% | 3,525,338 | $13.9M | Reduce -1.1% |
| TYRA Tyra Biosciences Inc. | 1.61% | 376,870 | $12.0M | New |
| OLMA Olema Pharmaceuticals Inc. | 1.55% | 924,758 | $11.6M | Reduce -38.5% |
| ORIC Oric Pharmaceuticals Inc. | 1.52% | 1,047,690 | $11.3M | Add +24.3% |
| LRMR Larimar Therapeutics Inc. | 1.50% | 3,670,135 | $11.2M | New |
| GMED Globus Medical Inc. Class A | 1.48% | 139,637 | $11.0M | Reduce -60.6% |
| ENOV Enovis Corp. | 1.47% | 531,945 | $11.0M | New |
| EVMN Evommune Inc. | 1.41% | 793,145 | $10.5M | Add +16.9% |
| TFX Teleflex Inc. | 1.36% | 80,118 | $10.2M | New |
| DNLI Denali Therapeutics Inc. | 1.35% | 391,866 | $10.1M | Reduce -71.2% |
| GKOS Glaukos Corp. | 1.24% | 66,519 | $9.3M | New |
| STAA Staar Surgical Co. | 1.24% | 322,126 | $9.2M | New |
| PACS Pacs Group Inc. | 1.23% | 215,675 | $9.2M | Reduce -64.3% |
| CRNX Crinetics Pharmaceuticals Inc. | 1.20% | 239,440 | $9.0M | New |
| LIVN Livanova PLC | 1.18% | 107,373 | $8.8M | New |
| BDTX Black Diamond Therapeutics I | 0.41% | 1,674,999 | $3.1M | New |
| MREO Mereo Biopharma Group PL-ADR | 0.32% | 7,558,756 | $2.4M | No change |
Portfolio Sells Q1 2026 → Q2 2026
| HSIC Henry Schein Inc. | Sold out | 0.00% | −6.46 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −6.16 |
| DXCM Dexcom Inc. | Sold out | 0.00% | −4.75 |
| ISRG Intuitive Surgical Inc. | Sold out | 0.00% | −4.38 |
| NBIX Neurocrine Biosciences Inc. | Sold out | 0.00% | −3.88 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -45.2% | 3.66% | −3.69 |
| GMED Globus Medical Inc. Class A | Reduce -60.6% | 1.48% | −2.81 |
| ITGR Integer Holdings Corp. | Sold out | 0.00% | −2.63 |
| ICUI Icu Medical Inc. | Reduce -58.4% | 2.07% | −2.54 |
| BIIB Biogen Inc. | Sold out | 0.00% | −2.48 |
| DNLI Denali Therapeutics Inc. | Reduce -71.2% | 1.35% | −2.32 |
| RVMD Revolution Medicines Inc. | Reduce -73.8% | 2.08% | −2.24 |
| TNDM Tandem Diabetes Care Inc. | Sold out | 0.00% | −2.05 |
| NUVL Nuvalent Inc. Class A | Sold out | 0.00% | −1.87 |
| ALGN Align Technology Inc. | Sold out | 0.00% | −1.62 |
| OLMA Olema Pharmaceuticals Inc. | Reduce -38.5% | 1.55% | −1.60 |
| PACS Pacs Group Inc. | Reduce -64.3% | 1.23% | −1.49 |
| LNTH Lantheus Holdings Inc. | Reduce -46.8% | 1.97% | −0.69 |
| BHVN Biohaven Ltd. | Sold out | 0.00% | −0.38 |
| ELAN Elanco Animal Health Inc. | Reduce -7.2% | 2.85% | −0.28 |
| ELDN Eledon Pharmaceuticals Inc. | Reduce -1.1% | 1.86% | +0.32 |
Portfolio Buys Q1 2026 → Q2 2026
| VEEV Veeva Systems Inc. Class A | New | 5.62% | +5.62 |
| BMRN Biomarin Pharmaceutical Inc. | New | 5.22% | +5.22 |
| BAX Baxter International Inc. | New | 4.17% | +4.17 |
| PODD Insulet Corp. | New | 3.61% | +3.61 |
| LLY Eli Lilly & Co. | Add +88.9% | 6.28% | +3.60 |
| TMO Thermo Fisher Scientific Inc. | New | 3.49% | +3.49 |
| ABT Abbott Laboratories | New | 3.47% | +3.47 |
| SOLV Solventum Corp. | New | 3.27% | +3.27 |
| MDT Medtronic PLC | New | 3.18% | +3.18 |
| AGIO Agios Pharmaceuticals Inc. | New | 2.72% | +2.72 |
| NVST Envista Holdings Corp. | New | 2.56% | +2.56 |
| ASND Ascendis Pharma A/S | Add +82.8% | 3.39% | +1.72 |
| TYRA Tyra Biosciences Inc. | New | 1.61% | +1.61 |
| LRMR Larimar Therapeutics Inc. | New | 1.50% | +1.50 |
| ENOV Enovis Corp. | New | 1.47% | +1.47 |
| TFX Teleflex Inc. | New | 1.36% | +1.36 |
| GKOS Glaukos Corp. | New | 1.24% | +1.24 |
| STAA Staar Surgical Co. | New | 1.24% | +1.24 |
| CRNX Crinetics Pharmaceuticals Inc. | New | 1.20% | +1.20 |
| LIVN Livanova PLC | New | 1.18% | +1.18 |
| PTCT PTC Therapeutics Inc. | Add +15.3% | 4.74% | +1.14 |
| BDTX Black Diamond Therapeutics I | New | 0.41% | +0.41 |
| OCUL Ocular Therapeutix Inc. | Add +0.2% | 1.96% | +0.19 |
| COGT Cogent Biosciences Inc. | Add +11.6% | 2.04% | +0.13 |
| ORIC Oric Pharmaceuticals Inc. | Add +24.3% | 1.52% | +0.02 |
| PFE Pfizer Inc. | Add +21.0% | 5.71% | −0.06 |
| INSM Insmed Inc. | Add +44.6% | 4.02% | −0.45 |
| EVMN Evommune Inc. | Add +16.9% | 1.41% | −0.78 |