Defilade Capital Management, L.P.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed June 12, 2026), Defilade Capital Management, L.P. reported 31 stock positions worth $712.2 million. Its top holding was Zimmer Biomet (ZBH) at 7.4% of the portfolio, followed by Henry Schein (HSIC, 6.5%) and Becton Dickinson and (BDX, 6.2%). Compared with Q4 2025, it opened 9 new positions, sold out of 11, added to 12 and reduced 10. The biggest buy was a new position in Zimmer Biomet (ZBH) and the biggest sale an exit from Abbvie (ABBV).
- Most Recent 13F
- Q2 2026
- Location
- EMERYVILLE, CA
- CIK
- 0002088557
- Portfolio Value
- $712.2M (Q1 2026)
- SEC Filing
- 0002088557-26-000006 ↗ filed Jun 12, 2026
Holdings Value
Holdings 31 stocks · $712.2M
| ZBH Zimmer Biomet Holdings Inc. | 7.35% | 579,161 | $52.4M | New |
| HSIC Henry Schein Inc. filed as SCHEIN HENRY INC | 6.46% | 624,037 | $46.0M | Add +94.8% |
| BDX Becton Dickinson and Co. | 6.16% | 279,210 | $43.9M | Add +243.8% |
| PFE Pfizer Inc. | 5.77% | 1,464,129 | $41.1M | Reduce -33.5% |
| DXCM Dexcom Inc. | 4.75% | 538,762 | $33.8M | Add +120.0% |
| ICUI Icu Medical Inc. | 4.61% | 254,291 | $32.8M | Reduce -25.4% |
| INSM Insmed Inc. | 4.48% | 194,909 | $31.9M | Add +289.8% |
| ISRG Intuitive Surgical Inc. | 4.38% | 67,681 | $31.2M | Add +48.2% |
| RVMD Revolution Medicines Inc. | 4.31% | 315,972 | $30.7M | Reduce -13.1% |
| GMED Globus Medical Inc. Class A | 4.29% | 354,350 | $30.5M | Add +32.6% |
| NBIX Neurocrine Biosciences Inc. | 3.88% | 209,932 | $27.7M | New |
| DNLI Denali Therapeutics Inc. | 3.67% | 1,359,969 | $26.1M | Add +107.1% |
| PTCT PTC Therapeutics Inc. | 3.60% | 376,165 | $25.6M | New |
| OLMA Olema Pharmaceuticals Inc. | 3.15% | 1,504,536 | $22.4M | Add +21.9% |
| ELAN Elanco Animal Health Inc. | 3.13% | 931,121 | $22.3M | Add +132.0% |
| PACS Pacs Group Inc. | 2.72% | 604,180 | $19.4M | Reduce -47.3% |
| LLY Eli Lilly & Co. | 2.67% | 20,696 | $19.0M | Reduce -35.2% |
| LNTH Lantheus Holdings Inc. | 2.66% | 249,401 | $18.9M | New |
| ITGR Integer Holdings Corp. | 2.63% | 213,027 | $18.7M | New |
| BIIB Biogen Inc. | 2.48% | 96,289 | $17.7M | Reduce -40.6% |
| EVMN Evommune Inc. | 2.19% | 678,589 | $15.6M | Add +215.0% |
| TNDM Tandem Diabetes Care Inc. | 2.05% | 761,905 | $14.6M | New |
| COGT Cogent Biosciences Inc. | 1.91% | 352,590 | $13.6M | Reduce -38.0% |
| NUVL Nuvalent Inc. Class A | 1.87% | 129,950 | $13.3M | Reduce -51.7% |
| OCUL Ocular Therapeutix Inc. | 1.77% | 1,487,645 | $12.6M | Add +118.2% |
| ASND Ascendis Pharma A/S | 1.67% | 51,895 | $11.9M | Reduce -39.4% |
| ALGN Align Technology Inc. | 1.62% | 67,332 | $11.5M | Reduce -47.4% |
| ELDN Eledon Pharmaceuticals Inc. | 1.54% | 3,564,127 | $11.0M | Add +8.3% |
| ORIC Oric Pharmaceuticals Inc. | 1.50% | 842,928 | $10.7M | New |
| BHVN Biohaven Ltd. | 0.38% | 315,944 | $2.7M | New |
| MREO Mereo Biopharma Group PL-ADR | 0.35% | 7,558,756 | $2.5M | New |
Portfolio Sells Q4 2025 → Q1 2026
| ABBV Abbvie Inc. | Sold out | 0.00% | −7.05 |
| NVS Novartis AG-Sponsored ADR | Sold out | 0.00% | −6.78 |
| STE Steris PLC | Sold out | 0.00% | −4.65 |
| PACS Pacs Group Inc. | Reduce -47.3% | 2.72% | −3.24 |
| XNCR Xencor Inc. | Sold out | 0.00% | −2.94 |
| ATRC Atricure Inc. | Sold out | 0.00% | −2.13 |
| LIVN Livanova PLC | Sold out | 0.00% | −2.01 |
| LLY Eli Lilly & Co. | Reduce -35.2% | 2.67% | −1.98 |
| ICUI Icu Medical Inc. | Reduce -25.4% | 4.61% | −1.98 |
| NUVL Nuvalent Inc. Class A | Reduce -51.7% | 1.87% | −1.80 |
| ATEC Alphatec Holdings Inc. | Sold out | 0.00% | −1.79 |
| PFE Pfizer Inc. | Reduce -33.5% | 5.77% | −1.66 |
| GKOS Glaukos Corp. | Sold out | 0.00% | −1.40 |
| BIIB Biogen Inc. | Reduce -40.6% | 2.48% | −1.39 |
| RXST Rxsight Inc. | Sold out | 0.00% | −1.29 |
| ALGN Align Technology Inc. | Reduce -47.4% | 1.62% | −1.09 |
| COGT Cogent Biosciences Inc. | Reduce -38.0% | 1.91% | −0.83 |
| ASND Ascendis Pharma A/S | Reduce -39.4% | 1.67% | −0.81 |
| TFX Teleflex Inc. | Sold out | 0.00% | −0.71 |
| CNMD Conmed Corp. | Sold out | 0.00% | −0.57 |
| RVMD Revolution Medicines Inc. | Reduce -13.1% | 4.31% | +0.39 |
Portfolio Buys Q4 2025 → Q1 2026
| ZBH Zimmer Biomet Holdings Inc. | New | 7.35% | +7.35 |
| BDX Becton Dickinson and Co. | Add +243.8% | 6.16% | +4.03 |
| NBIX Neurocrine Biosciences Inc. | New | 3.88% | +3.88 |
| PTCT PTC Therapeutics Inc. | New | 3.60% | +3.60 |
| INSM Insmed Inc. | Add +289.8% | 4.48% | +3.30 |
| HSIC Henry Schein Inc. | Add +94.8% | 6.46% | +3.18 |
| LNTH Lantheus Holdings Inc. | New | 2.66% | +2.66 |
| ITGR Integer Holdings Corp. | New | 2.63% | +2.63 |
| DXCM Dexcom Inc. | Add +120.0% | 4.75% | +2.55 |
| DNLI Denali Therapeutics Inc. | Add +107.1% | 3.67% | +2.20 |
| TNDM Tandem Diabetes Care Inc. | New | 2.05% | +2.05 |
| ELAN Elanco Animal Health Inc. | Add +132.0% | 3.13% | +1.90 |
| EVMN Evommune Inc. | Add +215.0% | 2.19% | +1.69 |
| ORIC Oric Pharmaceuticals Inc. | New | 1.50% | +1.50 |
| GMED Globus Medical Inc. Class A | Add +32.6% | 4.29% | +1.12 |
| ISRG Intuitive Surgical Inc. | Add +48.2% | 4.38% | +0.88 |
| ELDN Eledon Pharmaceuticals Inc. | Add +8.3% | 1.54% | +0.87 |
| OCUL Ocular Therapeutix Inc. | Add +118.2% | 1.77% | +0.65 |
| BHVN Biohaven Ltd. | New | 0.38% | +0.38 |
| MREO Mereo Biopharma Group PL-ADR | New | 0.35% | +0.35 |
| OLMA Olema Pharmaceuticals Inc. | Add +21.9% | 3.15% | −1.03 |