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DCM

DAFNA Capital Management Portfolio holdings

AUM $440M
1-Year Est. Return 109.12%
This Fund
S&P 500
This Quarter Est. Return
+36.72%
1 Year Est. Return
+109.12%
3 Year Est. Return
+239.59%
5 Year Est. Return
+227.89%
10 Year Est. Return
+3,611.91%
AUM
$405M
AUM Growth
+$42.5M
Cap. Flow
-$59.3M
Cap. Flow %
-14.64%
Top 10 Hldgs %
57.09%
Holding
83
New
7
Increased
10
Reduced
24
Closed
8

Top Buys

Rank Stock Value
1
SLNO
Soleno Therapeutics
SLNO
+$3.93M
2
LRMR icon
Larimar Therapeutics
LRMR
+$2.46M
3
SPRY icon
ARS Pharmaceuticals
SPRY
+$2.02M
4
INSP icon
Inspire Medical Systems
INSP
+$1.74M
5
AQST icon
Aquestive Therapeutics
AQST
+$1.6M

Top Sells

Rank Stock Value
1
BPMC
Blueprint Medicines
BPMC
+$21.6M
2
MRUS
Merus
MRUS
+$11.6M
3
ASND icon
Ascendis Pharma A/S
ASND
+$7.37M
4
MLYS icon
Mineralys Therapeutics
MLYS
+$6.23M
5
URGN icon
UroGen Pharma
URGN
+$5.78M

Sector Composition

Rank Sector Weight
1 Healthcare 85.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SLNO
26
DELISTED
Soleno Therapeutics
SLNO
$3.58M 0.89%
+53,000
New +$3.93M
BHVN icon
27
Biohaven
BHVN
$2.17B
$3.53M 0.87%
235,235
– –
EWTX icon
28
Edgewise Therapeutics
EWTX
$4.78B
$3.47M 0.86%
213,736
-24,404
-10% -$346K
PRQR icon
29
ProQR Therapeutics
PRQR
$268M
$3.34M 0.82%
1,567,561
– –
LRMR icon
30
Larimar Therapeutics
LRMR
$436M
$3.32M 0.82%
1,027,764
+656,330
+177% +$2.46M
CMPX icon
31
Compass Therapeutics
CMPX
$358M
$3.31M 0.82%
946,661
+420,001
+80% +$1.33M
MLYS icon
32
Mineralys Therapeutics
MLYS
$2.38B
$3.17M 0.78%
83,490
-288,033
-78% -$6.23M
NKTR icon
33
Nektar Therapeutics
NKTR
$2.48B
$3.13M 0.77%
54,998
+44,998
+450% +$1.49M
IMVT icon
34
Immunovant
IMVT
$8.2B
$3.09M 0.76%
191,493
– –
KRRO icon
35
Korro Bio
KRRO
$175M
$2.91M 0.72%
60,804
+3,113
+5% +$69.1K
AQST icon
36
Aquestive Therapeutics
AQST
$492M
$2.87M 0.71%
512,589
+370,589
+261% +$1.6M
DNLI icon
37
Denali Therapeutics
DNLI
$3.92B
$2.45M 0.6%
168,500
– –
LXEO icon
38
Lexeo Therapeutics
LXEO
$357M
$2.38M 0.59%
358,083
-20,000
-5% -$96.7K
ALEC icon
39
Alector
ALEC
$203M
$2.36M 0.58%
798,351
-114,577
-13% -$252K
ATXS
40
DELISTED
Astria Therapeutics
ATXS
$2.33M 0.58%
319,775
-5,000
-2% -$33.8K
RAPP
41
Rapport Therapeutics
RAPP
$2.22B
$2.23M 0.55%
+75,000
New +$1.34M
TELA icon
42
TELA Bio
TELA
$38.5M
$2.15M 0.53%
1,441,029
– –
PODD icon
43
Insulet
PODD
$9.65B
$2.12M 0.52%
6,870
-3,030
-31% -$949K
MDWD icon
44
MediWound
MDWD
$184M
$2.05M 0.51%
113,612
+49,133
+76% +$906K
ARAY icon
45
Accuray
ARAY
$33.8M
$2.04M 0.5%
1,222,358
– –
IMTX icon
46
Immatics
IMTX
$1.29B
$2M 0.49%
235,000
-10,000
-4% -$61.6K
ALLO icon
47
Allogene Therapeutics
ALLO
$680M
$1.71M 0.42%
1,380,118
– –
VKTX icon
48
Viking Therapeutics
VKTX
$3.88B
$1.7M 0.42%
64,516
– –
BCRX icon
49
BioCryst Pharmaceuticals
BCRX
$2.36B
$1.66M 0.41%
218,255
– –
GPCR icon
50
Structure Therapeutics
GPCR
$3.74B
$1.65M 0.41%
59,000
– –
1
2
3 4

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HCM
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BOA
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ECA
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SPT
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DAFNA Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, DAFNA Capital Management held 83 positions worth $405M, up 12% from $362M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

DAFNA Capital Management withdrew a net $59.3M in Q3 2025, closing 8 positions and reducing 24 holdings. Its most notable exit was Blueprint Medicines, an estimated $21.6M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 85% of assets, down from 86% a quarter earlier.

Against the trend, DAFNA Capital Management opened a new position in Soleno Therapeutics worth $3.58M.

  • DAFNA Capital Management's largest Q3 2025 buy was Soleno Therapeutics: 53,000 shares worth $3.58M.
  • DAFNA Capital Management added most to Larimar Therapeutics in Q3 2025, an estimated $2.46M increase.
  • DAFNA Capital Management's biggest Q3 2025 reduction was Merus, cutting an estimated $11.6M.
  • DAFNA Capital Management fully exited Blueprint Medicines in Q3 2025, selling an estimated $21.6M.
  • DAFNA Capital Management's ten largest holdings make up 57% of its $405M portfolio in Q3 2025.
  • DAFNA Capital Management opened 7 new positions and closed 8 in Q3 2025.
  • DAFNA Capital Management's portfolio value rose 12% quarter-over-quarter to $405M.

Based on DAFNA Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.