DAFNA Capital Management LLC
Long book
$433.7M
Q1 2026
Positions
82
Top-10 weight
53%
concentration
Last quarter
+32.3%
SPY +14.8%
Turnover
16%
of book per quarter
Strategy in plain words
auto-generated from filingsDAFNA Capital Management LLC is a diversified fundamental manager, specialised in healthcare (99% of the long book), running a $433.7M US long book across 82 positions.
The portfolio is concentrated: the top 10 names carry 53% of the portfolio. Turnover is modest: positions are typically held for years. Current anchor positions: REVOLUTION MEDICINES INC, SS SPDR S&P BIOTECH ETF, STEREOTAXIS INC, DAY ONE BIOPHARMACEUTICALS I, ATRICURE INC.
Over the last 9 quarters its long book ran on average 1.6pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-13.7%
Q2 2024
+8.0%
Q3 2024
-10.3%
Q4 2024
-16.4%
Q1 2025
+3.3%
Q2 2025
+31.8%
Q3 2025
+19.2%
Q4 2025
+0.7%
Q1 2026
+32.3%
Sector allocation
Healthcare 92%
Other 7%
Materials 1%
Long book by quarter
What does DAFNA Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| RVMD REVOLUTION MEDICINES INC | Healthcare | 580.7K | $56.5M | 13.0% | -3.9% |
| STXS STEREOTAXIS INC | Healthcare | 13.7M | $25.2M | 5.8% | Held |
| DAWNGBX DAY ONE BIOPHARMACEUTICALS I | — | 978.5K | $21.0M | 4.8% | -2.1% |
| ATRC ATRICURE INC | Healthcare | 597.4K | $17.0M | 3.9% | Held |
| IDYA IDEAYA BIOSCIENCES INC | Healthcare | 476.7K | $15.9M | 3.7% | -5.9% |
| XENE XENON PHARMACEUTICALS INC | Healthcare | 250.8K | $14.6M | 3.4% | -12.9% |
| CYTK CYTOKINETICS INC | Healthcare | 217.5K | $14.3M | 3.3% | -41.4% |
| NKTR NEKTAR THERAPEUTICS | Healthcare | 165.2K | $11.9M | 2.7% | +120.2% |
| RCUS ARCUS BIOSCIENCES INC | Healthcare | 443.8K | $9.6M | 2.2% | +2.9% |
| NBIX NEUROCRINE BIOSCIENCES INC | Healthcare | 70.6K | $9.3M | 2.1% | Held |
| LRMR LARIMAR THERAPEUTICS INC | Healthcare | 2.0M | $9.1M | 2.1% | +116.1% |
| BCAX BICARA THERAPEUTICS INC | Healthcare | 421.7K | $8.4M | 1.9% | +61.2% |
| AXGN AXOGEN INC | Healthcare | 250.0K | $8.3M | 1.9% | -47.6% |
| BHVN BIOHAVEN LTD | Healthcare | 845.7K | $7.2M | 1.6% | -11.5% |
| TNDM TANDEM DIABETES CARE INC | Healthcare | 355.2K | $6.8M | 1.6% | Held |
| DNLI DENALI THERAPEUTICS INC | Healthcare | 318.5K | $6.1M | 1.4% | Held |
| IPSC CENTURY THERAPEUTICS INC | Healthcare | 2.4M | $5.5M | 1.3% | -12.9% |
| DXCM DEXCOM INC | Healthcare | 86.3K | $5.4M | 1.2% | -2.3% |
| 4XC1 KALVISTA PHARMACEUTICALS INC | — | 267.4K | $5.4M | 1.2% | -25.1% |
| MBX MBX BIOSCIENCES INC | Healthcare | 175.5K | $5.2M | 1.2% | +6.2% |
| INGN INOGEN INC | Healthcare | 845.2K | $5.2M | 1.2% | +2.2% |
| SNDX SYNDAX PHARMACEUTICALS INC | Healthcare | 217.4K | $5.1M | 1.2% | -21.8% |
| ALKS ALKERMES PLC | Healthcare | 139.5K | $4.9M | 1.1% | +7.1% |
| STOK STOKE THERAPEUTICS INC | Healthcare | 130.9K | $4.3M | 1.0% | +20.2% |
| BCRX BIOCRYST PHARMACEUTICALS INC | Healthcare | 430.2K | $4.1M | 0.9% | +2.9% |
| IMVT IMMUNOVANT INC | Healthcare | 150.5K | $3.7M | 0.9% | Held |
| EWTX EDGEWISE THERAPEUTICS INC | Healthcare | 112.2K | $3.5M | 0.8% | -29.7% |
| MPLT MAPLIGHT THERAPEUTICS INC | Healthcare | 171.0K | $3.5M | 0.8% | +18.9% |
| ALLO ALLOGENE THERAPEUTICS INC | Healthcare | 1.4M | $3.3M | 0.8% | -0.7% |
| PRCT PROCEPT BIOROBOTICS CORP | Healthcare | 120.0K | $3.0M | 0.7% | Held |
| ALGN ALIGN TECHNOLOGY INC | Healthcare | 15.0K | $2.6M | 0.6% | -6.3% |
| PRQR PROQR THERAPEUTICS NV | Healthcare | 1.6M | $2.5M | 0.6% | Held |
| HELP CYBIN INC | Healthcare | 498.4K | $2.4M | 0.6% | +9.5% |
| RAPP RAPPORT THERAPEUTICS INC | Healthcare | 75.0K | $2.3M | 0.5% | Held |
| PODD INSULET CORP | Healthcare | 10.9K | $2.3M | 0.5% | +58.2% |
| IMTX IMMATICS NV | Healthcare | 225.9K | $2.2M | 0.5% | -13.5% |
| CLDX CELLDEX THERAPEUTICS INC | Materials | 68.5K | $2.2M | 0.5% | Held |
| LXEO LEXEO THERAPEUTICS INC | Healthcare | 377.1K | $2.2M | 0.5% | +10.6% |
| ALEC ALECTOR INC | Healthcare | 908.4K | $2.0M | 0.5% | Held |
| VKTX VIKING THERAPEUTICS INC | Healthcare | 59.5K | $1.9M | 0.4% | Held |
| KURA KURA ONCOLOGY INC | Healthcare | 235.9K | $1.9M | 0.4% | Held |
| PROF PROFOUND MEDICAL CORP | Healthcare | 263.0K | $1.7M | 0.4% | -7.9% |
| FULC FULCRUM THERAPEUTICS INC | Healthcare | 205.0K | $1.6M | 0.4% | New |
| AQST AQUESTIVE THERAPEUTICS INC | Healthcare | 368.4K | $1.5M | 0.4% | -2.0% |
| MDWD MEDIWOUND LTD | Materials | 94.4K | $1.5M | 0.4% | -16.9% |
| KIDS ORTHOPEDIATRICS CORP | Healthcare | 95.7K | $1.5M | 0.4% | New |
| RARE ULTRAGENYX PHARMACEUTICAL IN | Healthcare | 61.1K | $1.3M | 0.3% | +281.9% |
| ENGN enGene Therapeutics Inc | Healthcare | 187.4K | $1.3M | 0.3% | +14.5% |
| NGNE NEUROGENE INC | Healthcare | 56.6K | $1.1M | 0.3% | +102.5% |
| SPRY ARS PHARMACEUTICALS INC | Healthcare | 139.3K | $1.1M | 0.3% | -26.7% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 83 | $439.6M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 77 | $430.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 75 | $404.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 76 | $362.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 83 | $352.7M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 82 | $393.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 84 | $423.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 83 | $418.6M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 72 | $439.3M | canonical | SEC ↗ |