# Defilade Capital Management, L.P.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2088557. Source: https://holderbook.com/funds/2088557-defilade-capital-management-l-p/

- Reported value: $746.9M
- Positions: 39
- Weight of the ten largest: 46.5%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $46.9M | 39,086 | 6.3% | 3 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $42.7M | 1,771,743 | 5.7% | 3 |
| VEEVA SYS INC | [VEEV](https://holderbook.com/stocks/VEEV/) | $42.0M | 236,709 | 5.6% | 1 |
| BIOMARIN PHARMACEUTICAL INC | [BMRN](https://holderbook.com/stocks/BMRN/) | $39.0M | 682,005 | 5.2% | 1 |
| PTC THERAPEUTICS INC | [PTCT](https://holderbook.com/stocks/PTCT/) | $35.4M | 433,699 | 4.7% | 2 |
| BAXTER INTL INC | [BAX](https://holderbook.com/stocks/BAX/) | $31.1M | 1,459,380 | 4.2% | 1 |
| INSMED INC | [INSM](https://holderbook.com/stocks/INSM/) | $30.0M | 281,838 | 4.0% | 3 |
| ZIMMER BIOMET HOLDINGS INC | [ZBH](https://holderbook.com/stocks/ZBH/) | $27.3M | 317,426 | 3.7% | 2 |
| INSULET CORP | [PODD](https://holderbook.com/stocks/PODD/) | $26.9M | 176,932 | 3.6% | 1 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $26.0M | 51,934 | 3.5% | 1 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $25.9M | 285,778 | 3.5% | 1 |
| ASCENDIS PHARMA A/S | [ASND](https://holderbook.com/stocks/ASND/) | $25.3M | 94,843 | 3.4% | 1 |
| SOLVENTUM CORP | [SOLV](https://holderbook.com/stocks/SOLV/) | $24.4M | 316,454 | 3.3% | 1 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $23.7M | 303,301 | 3.2% | 1 |
| ELANCO ANIMAL HEALTH INC | [ELAN](https://holderbook.com/stocks/ELAN/) | $21.3M | 864,080 | 2.8% | 3 |
| AGIOS PHARMACEUTICALS INC | [AGIO](https://holderbook.com/stocks/AGIO/) | $20.3M | 546,848 | 2.7% | 1 |
| ENVISTA HOLDINGS CORPORATION | [NVST](https://holderbook.com/stocks/NVST/) | $19.1M | 726,108 | 2.6% | 1 |
| REVOLUTION MEDICINES INC | [RVMD](https://holderbook.com/stocks/RVMD/) | $15.5M | 82,827 | 2.1% | 3 |
| ICU MED INC | [ICUI](https://holderbook.com/stocks/ICUI/) | $15.5M | 105,700 | 2.1% | 3 |
| COGENT BIOSCIENCES INC | [COGT](https://holderbook.com/stocks/COGT/) | $15.2M | 393,441 | 2.0% | 3 |
| LANTHEUS HLDGS INC | [LNTH](https://holderbook.com/stocks/LNTH/) | $14.7M | 132,662 | 2.0% | 2 |
| OCULAR THERAPEUTIX INC | [OCUL](https://holderbook.com/stocks/OCUL/) | $14.6M | 1,490,286 | 2.0% | 3 |
| ELEDON PHARMACEUTICALS INC | [ELDN](https://holderbook.com/stocks/ELDN/) | $13.9M | 3,525,338 | 1.9% | 3 |
| TYRA BIOSCIENCES INC | [TYRA](https://holderbook.com/stocks/TYRA/) | $12.0M | 376,870 | 1.6% | 1 |
| OLEMA PHARMACEUTICALS INC | [OLMA](https://holderbook.com/stocks/OLMA/) | $11.6M | 924,758 | 1.5% | 3 |
| ORIC PHARMACEUTICALS INC | [ORIC](https://holderbook.com/stocks/ORIC/) | $11.3M | 1,047,690 | 1.5% | 2 |
| LARIMAR THERAPEUTICS INC | [LRMR](https://holderbook.com/stocks/LRMR/) | $11.2M | 3,670,135 | 1.5% | 1 |
| GLOBUS MED INC | [GMED](https://holderbook.com/stocks/GMED/) | $11.0M | 139,637 | 1.5% | 3 |
| ENOVIS CORPORATION | [ENOV](https://holderbook.com/stocks/ENOV/) | $11.0M | 531,945 | 1.5% | 1 |
| EVOMMUNE INC | [EVMN](https://holderbook.com/stocks/EVMN/) | $10.5M | 793,145 | 1.4% | 3 |
| TELEFLEX INCORPORATED | [TFX](https://holderbook.com/stocks/TFX/) | $10.2M | 80,118 | 1.4% | 1 |
| DENALI THERAPEUTICS INC | [DNLI](https://holderbook.com/stocks/DNLI/) | $10.1M | 391,866 | 1.3% | 3 |
| GLAUKOS CORP | [GKOS](https://holderbook.com/stocks/GKOS/) | $9.3M | 66,519 | 1.2% | 1 |
| STAAR SURGICAL CO | [STAA](https://holderbook.com/stocks/STAA/) | $9.2M | 322,126 | 1.2% | 1 |
| PACS GROUP INC | [PACS](https://holderbook.com/stocks/PACS/) | $9.2M | 215,675 | 1.2% | 3 |
| CRINETICS PHARMACEUTICALS IN | [CRNX](https://holderbook.com/stocks/CRNX/) | $9.0M | 239,440 | 1.2% | 1 |
| LIVANOVA PLC | [LIVN](https://holderbook.com/stocks/LIVN/) | $8.8M | 107,373 | 1.2% | 1 |
| BLACK DIAMOND THERAPEUTICS I | [BDTX](https://holderbook.com/stocks/BDTX/) | $3.1M | 1,674,999 | 0.4% | 1 |
| MEREO BIOPHARMA GROUP PLC | [MREO](https://holderbook.com/stocks/MREO/) | $2.4M | 7,558,756 | 0.3% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +8.1% | +14.8% | -6.7% | 100% |
| Q1 2026 | -4.7% | -4.6% | -0.0% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $746.9M | 39 |
| Q1 2026 | $712.2M | 31 |
| Q4 2025 | $737.7M | 33 |