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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
MBX
51
MBX Biosciences
MBX
$3.19B
$1.49M 0.37%
+85,000
New +$1.14M
SPRY icon
52
ARS Pharmaceuticals
SPRY
$551M
$1.41M 0.35%
+140,500
New +$2.02M
ALGN icon
53
Align Technology
ALGN
$12B
$1.38M 0.34%
11,000
– –
KROS icon
54
Keros Therapeutics
KROS
$211M
$1.28M 0.32%
80,716
-49,600
-38% -$733K
INSP icon
55
Inspire Medical Systems
INSP
$1.7B
$1.28M 0.32%
+17,200
New +$1.74M
ORIC icon
56
Oric Pharmaceuticals
ORIC
$1.34B
$1.26M 0.31%
104,671
-30,600
-23% -$322K
BDTX icon
57
Black Diamond Therapeutics
BDTX
$110M
$1.16M 0.29%
307,070
-163,930
-35% -$479K
OBIO icon
58
Orchestra BioMed
OBIO
$249M
$902K 0.22%
+363,636
New +$1M
BWAY
59
Brainsway
BWAY
$628M
$858K 0.21%
113,932
-140,370
-55% -$968K
IPSC icon
60
Century Therapeutics
IPSC
$343M
$849K 0.21%
1,704,232
– –
ERAS icon
61
Erasca
ERAS
$6.34B
$763K 0.19%
350,000
– –
PYPD icon
62
PolyPid
PYPD
$92.2M
$693K 0.17%
207,900
– –
BNTX icon
63
BioNTech
BNTX
$22.9B
$690K 0.17%
7,000
– –
CLDX icon
64
Celldex Therapeutics
CLDX
$3.26B
$634K 0.16%
+24,518
New +$568K
FHTX icon
65
Foghorn Therapeutics
FHTX
$331M
$620K 0.15%
126,859
-173,593
-58% -$920K
URGN icon
66
UroGen Pharma
URGN
$2.22B
$549K 0.14%
27,515
-322,000
-92% -$5.78M
NGNE icon
67
Neurogene
NGNE
$710M
$526K 0.13%
30,375
-20,721
-41% -$416K
BCYC
68
Bicycle Therapeutics
BCYC
$278M
$499K 0.12%
64,492
– –
ADCT icon
69
ADC Therapeutics
ADCT
$144M
$488K 0.12%
122,081
– –
CGEN icon
70
Compugen
CGEN
$218M
$400K 0.1%
272,402
– –
STRO icon
71
Sutro Biopharma
STRO
$400M
$380K 0.09%
43,708
– –
AUTL
72
Autolus Therapeutics
AUTL
$532M
$292K 0.07%
179,316
-246,300
-58% -$481K
PHGE icon
73
BiomX
PHGE
$1.72M
$211K 0.05%
21,112
– –
APRE icon
74
Aprea Therapeutics
APRE
$7.83M
$202K 0.05%
137,174
– –
ACET icon
75
Adicet Bio
ACET
$74.2M
– –
-33,750
Closed -$329K
1 2
3
4

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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.