Defilade Capital Management, L.P. Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ZBH	ZIMMER BIOMET HOLDINGS INC	579,161	$52,368	7.4%	$91.66	0.0%	COM	98956P102
PTCT	PTC THERAPEUTICS INC	376,165	$41,113	5.8%	$73.69	0.0%	COM	69366J200
NBIX	NEUROCRINE BIOSCIENCES INC	209,932	$27,656	3.9%	$134.33	0.0%	COM	64125C109
LNTH	LANTHEUS HLDGS INC	249,401	$18,917	2.7%	$68.45	0.0%	COM	516544103
ITGR	INTEGER HLDGS CORP	213,027	$18,746	2.6%	$84.99	0.0%	COM	45826H109
TNDM	TANDEM DIABETES CARE INC	761,905	$14,606	2.1%	$21.08	0.0%	COM NEW	875372203
ORIC	ORIC PHARMACEUTICALS INC	842,928	$10,680	1.5%	$10.77	0.0%	COM	68622P109
BHVN	BIOHAVEN LTD	315,944	$2,673	0.4%	$11.75	0.0%	COM	G1110E107
MREO	MEREO BIOPHARMA GROUP PLC	7,558,756	$2,494	0.4%	$0.33	—	SPON ADS	589492107

Increased Positions (12)

BDX BECTON DICKINSON & CO 6.2%

Value ($000) $43,900 (+178.6%) Shares 279,210 (+243.8%) Est. Cost $174.15 Unrealized -3.6%

INSM INSMED INC 4.5%

Value ($000) $31,872 (+266.3%) Shares 194,909 (+289.8%) Est. Cost $165.05 Unrealized -3.6%

HSIC SCHEIN HENRY INC 6.5%

Value ($000) $45,992 (+89.9%) Shares 624,037 (+94.8%) Est. Cost $74.11 Unrealized +5.3%

DXCM DEXCOM INC 4.8%

Value ($000) $33,834 (+108.2%) Shares 538,762 (+120.0%) Est. Cost $68.07 Unrealized +4.2%

DNLI DENALI THERAPEUTICS INC 3.7%

Value ($000) $26,111 (+140.8%) Shares 1,359,969 (+107.1%) Est. Cost $18.30 Unrealized +7.2%

ELAN ELANCO ANIMAL HEALTH INC 3.1%

Value ($000) $22,282 (+145.4%) Shares 931,121 (+132.0%) Est. Cost $23.36 Unrealized +5.2%

EVMN EVOMMUNE INC 2.2%

Value ($000) $15,601 (+323.0%) Shares 678,589 (+215.0%) Est. Cost $20.97 Unrealized +4.9%

OLMA OLEMA PHARMACEUTICALS INC 3.1%

Value ($000) $22,433 (-27.3%) Shares 1,504,536 (+21.9%) Est. Cost $19.17 Unrealized +32.8%

GMED GLOBUS MED INC 4.3%

Value ($000) $30,531 (+30.9%) Shares 354,350 (+32.6%) Est. Cost $79.64 Unrealized +14.4%

ELDN ELEDON PHARMACEUTICALS INC 1.5%

Value ($000) $10,978 (+120.9%) Shares 3,564,127 (+8.3%) Est. Cost $2.35 Unrealized -11.4%

ISRG INTUITIVE SURGICAL INC 4.4%

Value ($000) $31,200 (+20.6%) Shares 67,681 (+48.2%) Est. Cost $528.66 Unrealized -1.5%

OCUL OCULAR THERAPEUTIX INC 1.8%

Value ($000) $12,600 (+52.3%) Shares 1,487,645 (+118.2%) Est. Cost $10.89 Unrealized -9.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BDX	BECTON DICKINSON & CO	279,210 (+243.8%)	$43,900 (+178.6%)	6.2%	$174.15	-3.6%	COM	075887109
INSM	INSMED INC	194,909 (+289.8%)	$31,872 (+266.3%)	4.5%	$165.05	-3.6%	COM PAR $.01	457669307
HSIC	SCHEIN HENRY INC	624,037 (+94.8%)	$45,992 (+89.9%)	6.5%	$74.11	+5.3%	COM	806407102
DXCM	DEXCOM INC	538,762 (+120.0%)	$33,834 (+108.2%)	4.8%	$68.07	+4.2%	COM	252131107
DNLI	DENALI THERAPEUTICS INC	1,359,969 (+107.1%)	$26,111 (+140.8%)	3.7%	$18.30	+7.2%	COM	24823R105
ELAN	ELANCO ANIMAL HEALTH INC	931,121 (+132.0%)	$22,282 (+145.4%)	3.1%	$23.36	+5.2%	COM	28414H103
EVMN	EVOMMUNE INC	678,589 (+215.0%)	$15,601 (+323.0%)	2.2%	$20.97	+4.9%	COM SHS	30054Y107
OLMA	OLEMA PHARMACEUTICALS INC	1,504,536 (+21.9%)	$22,433 (-27.3%)	3.1%	$19.17	+32.8%	COM	68062P106
GMED	GLOBUS MED INC	354,350 (+32.6%)	$30,531 (+30.9%)	4.3%	$79.64	+14.4%	CL A	379577208
ELDN	ELEDON PHARMACEUTICALS INC	3,564,127 (+8.3%)	$10,978 (+120.9%)	1.5%	$2.35	-11.4%	COM	28617K101
ISRG	INTUITIVE SURGICAL INC	67,681 (+48.2%)	$31,200 (+20.6%)	4.4%	$528.66	-1.5%	COM NEW	46120E602
OCUL	OCULAR THERAPEUTIX INC	1,487,645 (+118.2%)	$12,600 (+52.3%)	1.8%	$10.89	-9.8%	COM	67576A100

Exited Positions (11)

ABBV ABBVIE INC 7.3%

Value ($000) $52,020 Shares 227,669 Est. Cost $227.54 Unrealized -2.2%

NVS NOVARTIS AG 7.0%

Value ($000) $50,021 Shares 362,816 Est. Cost $137.87 Unrealized —

STE STERIS PLC 4.8%

Value ($000) $34,303 Shares 135,307 Est. Cost $251.13 Unrealized +1.7%

XNCR XENCOR INC 3.0%

Value ($000) $21,660 Shares 1,414,755 Est. Cost $14.94 Unrealized -15.3%

ATRC ATRICURE INC 2.2%

Value ($000) $15,730 Shares 397,636 Est. Cost $36.66 Unrealized +0.7%

LIVN LIVANOVA PLC 2.1%

Value ($000) $14,854 Shares 241,413 Est. Cost $57.14 Unrealized +14.0%

ATEC ALPHATEC HLDGS INC 1.9%

Value ($000) $13,187 Shares 626,754 Est. Cost $18.51 Unrealized -13.8%

GKOS GLAUKOS CORP 1.5%

Value ($000) $10,354 Shares 91,703 Est. Cost $95.54 Unrealized +21.5%

RXST RXSIGHT INC 1.3%

Value ($000) $9,514 Shares 913,090 Est. Cost $10.03 Unrealized -9.8%

TFX TELEFLEX INCORPORATED 0.7%

Value ($000) $5,229 Shares 42,850 Est. Cost $121.00 Unrealized -10.2%

CNMD CONMED CORP 0.6%

Value ($000) $4,228 Shares 104,129 Est. Cost $43.50 Unrealized -3.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ABBV	ABBVIE INC	227,669	$52,020	7.3%	$227.54	-2.2%	—	00287Y109
NVS	NOVARTIS AG	362,816	$50,021	7.0%	$137.87	—	—	66987V109
STE	STERIS PLC	135,307	$34,303	4.8%	$251.13	+1.7%	—	G8473T100
XNCR	XENCOR INC	1,414,755	$21,660	3.0%	$14.94	-15.3%	—	98401F105
ATRC	ATRICURE INC	397,636	$15,730	2.2%	$36.66	+0.7%	—	04963C209
LIVN	LIVANOVA PLC	241,413	$14,854	2.1%	$57.14	+14.0%	—	G5509L101
ATEC	ALPHATEC HLDGS INC	626,754	$13,187	1.9%	$18.51	-13.8%	—	02081G201
GKOS	GLAUKOS CORP	91,703	$10,354	1.5%	$95.54	+21.5%	—	377322102
RXST	RXSIGHT INC	913,090	$9,514	1.3%	$10.03	-9.8%	—	78349D107
TFX	TELEFLEX INCORPORATED	42,850	$5,229	0.7%	$121.00	-10.2%	—	879369106
CNMD	CONMED CORP	104,129	$4,228	0.6%	$43.50	-3.6%	—	207410101

Decreased Positions (10)

PFE PFIZER INC 2.7%

Value ($000) $19,406 (-64.6%) Shares 1,464,129 (-33.6%) Est. Cost $25.03 Unrealized +4.6%

PACS PACS GROUP INC 3.6%

Value ($000) $25,628 (-41.7%) Shares 604,180 (-47.3%) Est. Cost $21.94 Unrealized +74.3%

ICUI ICU MED INC 4.6%

Value ($000) $32,842 (-32.4%) Shares 254,291 (-25.4%) Est. Cost $133.96 Unrealized +12.7%

LLY ELI LILLY & CO 2.7%

Value ($000) $19,036 (-44.6%) Shares 20,696 (-35.2%) Est. Cost $955.55 Unrealized +9.6%

NUVL NUVALENT INC 1.9%

Value ($000) $13,313 (-50.8%) Shares 129,950 (-51.7%) Est. Cost $98.60 Unrealized +5.1%

BIIB BIOGEN INC 2.5%

Value ($000) $17,653 (-38.1%) Shares 96,289 (-40.6%) Est. Cost $163.37 Unrealized +12.2%

ALGN ALIGN TECHNOLOGY INC 1.6%

Value ($000) $11,543 (-42.3%) Shares 67,332 (-47.4%) Est. Cost $143.30 Unrealized +21.9%

COGT COGENT BIOSCIENCES INC 1.9%

Value ($000) $13,571 (-32.8%) Shares 352,590 (-38.0%) Est. Cost $28.11 Unrealized +32.9%

ASND ASCENDIS PHARMA A/S 1.7%

Value ($000) $11,870 (-35.0%) Shares 51,895 (-39.4%) Est. Cost $213.24 Unrealized —

RVMD REVOLUTION MEDICINES INC 4.3%

Value ($000) $30,728 (+6.1%) Shares 315,972 (-13.1%) Est. Cost $65.57 Unrealized +57.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PFE	PFIZER INC	1,464,129 (-33.6%)	$19,406 (-64.6%)	2.7%	$25.03	+4.6%	COM	717081103
PACS	PACS GROUP INC	604,180 (-47.3%)	$25,628 (-41.7%)	3.6%	$21.94	+74.3%	COM SHS	69380Q107
ICUI	ICU MED INC	254,291 (-25.4%)	$32,842 (-32.4%)	4.6%	$133.96	+12.7%	COM	44930G107
LLY	ELI LILLY & CO	20,696 (-35.2%)	$19,036 (-44.6%)	2.7%	$955.55	+9.6%	COM	532457108
NUVL	NUVALENT INC	129,950 (-51.7%)	$13,313 (-50.8%)	1.9%	$98.60	+5.1%	COM	670703107
BIIB	BIOGEN INC	96,289 (-40.6%)	$17,653 (-38.1%)	2.5%	$163.37	+12.2%	COM	09062X103
ALGN	ALIGN TECHNOLOGY INC	67,332 (-47.4%)	$11,543 (-42.3%)	1.6%	$143.30	+21.9%	COM	016255101
COGT	COGENT BIOSCIENCES INC	352,590 (-38.0%)	$13,571 (-32.8%)	1.9%	$28.11	+32.9%	COM	19240Q201
ASND	ASCENDIS PHARMA A/S	51,895 (-39.4%)	$11,870 (-35.0%)	1.7%	$213.24	—	SPONSORED ADR	04351P101
RVMD	REVOLUTION MEDICINES INC	315,972 (-13.1%)	$30,728 (+6.1%)	4.3%	$65.57	+57.1%	COM	76155X100