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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
+25.66%
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
$431M
AUM Growth
+$25.7M
Cap. Flow
-$49.3M
Cap. Flow %
-11.46%
Top 10 Hldgs %
54.85%
Holding
87
New
12
Increased
16
Reduced
29
Closed
10

Top Buys

Rank Stock Value
1
BHVN icon
Biohaven
BHVN
+$8.92M
2
PRCT icon
Procept Biorobotics
PRCT
+$3.98M
3
HELP
Cybin Inc
HELP
+$2.93M
4
DNLI icon
Denali Therapeutics
DNLI
+$2.53M
5
MPLT
MapLight Therapeutics
MPLT
+$2.41M

Top Sells

Rank Stock Value
1
MRUS
Merus
MRUS
+$20.8M
2
XBI icon
State Street SPDR S&P Biotech ETF
XBI
+$7.45M
3
AXGN icon
Axogen
AXGN
+$6.53M
4
IBB icon
iShares Biotechnology ETF
IBB
+$5.59M
5
RCUS icon
Arcus Biosciences
RCUS
+$4M

Sector Composition

Rank Sector Weight
1 Healthcare 86.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EWTX icon
26
Edgewise Therapeutics
EWTX
$4.68B
$3.96M 0.92%
159,736
-54,000
-25% -$1.08M
IMVT icon
27
Immunovant
IMVT
$8.25B
$3.83M 0.89%
150,524
-40,969
-21% -$914K
PRCT icon
28
Procept Biorobotics
PRCT
$1.17B
$3.78M 0.88%
+120,000
New +$3.98M
HELP
29
Cybin Inc
HELP
$720M
$3.72M 0.86%
+455,018
New +$2.93M
ALKS icon
30
Alkermes
ALKS
$8.25B
$3.64M 0.85%
130,248
-4,500
-3% -$135K
LRMR icon
31
Larimar Therapeutics
LRMR
$432M
$3.58M 0.83%
939,164
-88,600
-9% -$345K
STOK icon
32
Stoke Therapeutics
STOK
$2.11B
$3.46M 0.8%
108,875
-60,916
-36% -$1.83M
LXEO icon
33
Lexeo Therapeutics
LXEO
$378M
$3.38M 0.79%
340,859
-17,224
-5% -$157K
BCRX icon
34
BioCryst Pharmaceuticals
BCRX
$2.4B
$3.26M 0.76%
418,255
+200,000
+92% +$1.45M
NKTR icon
35
Nektar Therapeutics
NKTR
$2.58B
$3.17M 0.74%
74,998
+20,000
+36% +$1.12M
PRQR icon
36
ProQR Therapeutics
PRQR
$265M
$3.17M 0.74%
1,567,561
– –
IPSC icon
37
Century Therapeutics
IPSC
$361M
$2.78M 0.65%
2,793,586
+1,089,354
+64% +$665K
IMTX icon
38
Immatics
IMTX
$1.32B
$2.74M 0.64%
261,138
+26,138
+11% +$264K
GPCR icon
39
Structure Therapeutics
GPCR
$3.78B
$2.57M 0.6%
37,000
-22,000
-37% -$898K
MPLT
40
MapLight Therapeutics
MPLT
$552M
$2.53M 0.59%
+143,764
New +$2.41M
ALGN icon
41
Align Technology
ALGN
$12.3B
$2.5M 0.58%
16,000
+5,000
+45% +$717K
KURA icon
42
Kura Oncology
KURA
$850M
$2.45M 0.57%
235,868
-227,500
-49% -$2.39M
AQST icon
43
Aquestive Therapeutics
AQST
$494M
$2.43M 0.56%
375,915
-136,674
-27% -$852K
RAPP
44
Rapport Therapeutics
RAPP
$2.18B
$2.28M 0.53%
75,000
– –
PROF
45
Profound Medical
PROF
$269M
$2.25M 0.52%
+285,710
New +$1.84M
SPRY icon
46
ARS Pharmaceuticals
SPRY
$612M
$2.21M 0.51%
190,065
+49,565
+35% +$482K
MDWD icon
47
MediWound
MDWD
$185M
$2.1M 0.49%
113,612
– –
VKTX icon
48
Viking Therapeutics
VKTX
$4B
$2.09M 0.49%
59,516
-5,000
-8% -$177K
PODD icon
49
Insulet
PODD
$9.79B
$1.95M 0.45%
6,870
– –
ALLO icon
50
Allogene Therapeutics
ALLO
$694M
$1.89M 0.44%
1,380,118
– –
1
2
3 4

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DAFNA Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, DAFNA Capital Management held 87 positions worth $431M, up 6.4% from $405M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

DAFNA Capital Management withdrew a net $49.3M in Q4 2025, closing 10 positions and reducing 29 holdings. Its most notable exit was Merus, an estimated $20.8M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 87% of assets, up from 85% a quarter earlier.

Against the trend, DAFNA Capital Management opened a new position in Procept Biorobotics worth $3.78M.

  • DAFNA Capital Management's largest Q4 2025 buy was Procept Biorobotics: 120,000 shares worth $3.78M.
  • DAFNA Capital Management added most to Biohaven in Q4 2025, an estimated $8.92M increase.
  • DAFNA Capital Management's biggest Q4 2025 reduction was State Street SPDR S&P Biotech ETF, cutting an estimated $7.45M.
  • DAFNA Capital Management fully exited Merus in Q4 2025, selling an estimated $20.8M.
  • DAFNA Capital Management's ten largest holdings make up 55% of its $431M portfolio in Q4 2025.
  • DAFNA Capital Management opened 12 new positions and closed 10 in Q4 2025.
  • DAFNA Capital Management's portfolio value rose 6.4% quarter-over-quarter to $431M.

Based on DAFNA Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.