Defilade Capital Management, L.P.
SEC Form 13F institutional filer · CIK 0002088557
13F-HR · 10 reported holdings · 2026-03-31
Reported long-US-equity value
$0.29B
Top-10 concentration
100.0%
Defilade Capital Management, L.P. — $287M AUM allocation strategy
Defilade Capital Management, L.P. files SEC Form 13F and reports $287M of long US equity value across 10 reported holdings for 2026-03-31.
Its largest sector bet is Health Care 95.9%, followed by Financials 4.1%.
The top 10 holdings account for 100% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Defilade Capital Management, L.P. — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$287M
total across 10 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
100% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$HSIC +304K sh · +$21.8M+$DXCM +294K sh · +$17.6M+$BDX +198K sh · +$28.1M
Biggest trims (shares)
−$PFE −739K sh · −$35.5M−$BIIB −65.7K sh · −$10.9M−$ALGN −60.7K sh · −$8.45M
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Health Care Equipment56.2%—
- Health Care Distributors16.0%—
- Pharmaceuticals13.4%—
- Biotechnology6.2%—
- Asset Management & Custody Banks4.1%—
- Health Care Supplies4.0%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $ZBH | Zimmer Biomet Holdings Inc | 579K | $52.4M | — | 18.3% |
| $HSIC | Henry Schein Inc | 624K | $46M | +304K | 16.0% |
| $BDX | Becton Dickinson and Company | 279K | $43.9M | +198K | 15.3% |
| $DXCM | DexCom Inc | 539K | $33.8M | +294K | 11.8% |
| $ISRG | Intuitive Surgical Inc | 67.7K | $31.2M | +22K | 10.9% |
| $PFE | Pfizer Inc | 1.46M | $19.4M | -739K | 6.8% |
| $LLY | Eli Lilly and Company | 20.7K | $19M | -11.3K | 6.6% |
| $BIIB | Biogen Inc | 96.3K | $17.7M | -65.7K | 6.2% |
| $BNY | The Bank of New York Mellon Corporation | 51.9K | $11.9M | -33.8K | 4.1% |
| $ALGN | Align Technology Inc | 67.3K | $11.5M | -60.7K | 4.0% |
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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