Latest DAFNA Capital Management LLC Stock Portfolio

DAFNA Capital Management LLC Performance:

2025 Q4: 16.2%YTD: 34.86%2024: -3.1%

Performance for 2025 Q4 is 16.2%, and YTD is 34.86%, and 2024 is -3.1%.

About DAFNA Capital Management LLC and 13F Hedge Fund Stock Holdings

DAFNA Capital Management LLC is a hedge fund based in Los Angeles, CA. On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, DAFNA Capital Management LLC reported an equity portfolio of $430.5 Millions as of 31 Dec, 2025.

The top stock holdings of DAFNA Capital Management LLC are RVMD, BIL, STXS. The fund has invested 11.2% of it's portfolio in REVOLUTION MEDICINES INC and 9.5% of portfolio in SPDR S&P BIOTECH ETF.

The fund managers got completely rid off MERUS BV (MRUS), SOLENO THERAPEUTICS INC (SLNO) and COMPASS THERAPEUTICS INC (CMPX) stocks. They significantly reduced their stock positions in BRAINSWAY LTD (BWAY), ORCHESTRA BIOMED HOLDINGS INC and INSPIRE MEDICAL SYSTEMS INC (INSP). DAFNA Capital Management LLC opened new stock positions in PROCEPT BIOROBOTICS CORP (PRCT), CYBIN INC (CYBN) and MAPLIGHT THERAPEUTICS INC. The fund showed a lot of confidence in some stocks as they added substantially to BIOHAVEN LTD, CELLDEX THERAPEUTICS INC NEW (CLDX) and BIOCRYST PHARMACEUTICALS INC (BCRX).

DAFNA Capital Management LLC Annual Return Estimates Vs S&P 500

Our best estimate is that DAFNA Capital Management LLC made a return of 16.2% in the last quarter. In trailing 12 months, it's portfolio return was 34.86%.

Performance
S&P 500

New Buys

Ticker	$ Bought
procept biorobotics corp	3,775,200
cybin inc	3,722,050
maplight therapeutics inc	2,525,220
profound medical corp	2,248,540
engene holdings inc	1,477,710
verrica pharmaceuticals inc	1,441,380
annexon inc	1,369,520
adicet bio inc	789,897

New stocks bought by DAFNA Capital Management LLC

Additions

Ticker	% Inc.
biohaven ltd	306
celldex therapeutics inc new	179
mbx biosciences inc	94.43
biocryst pharmaceuticals inc	91.64
denali therapeutics inc	89.02
century therapeutics inc	63.92
align technology inc	45.45
inogen inc	36.56

Additions to existing portfolio by DAFNA Capital Management LLC

Reductions

Ticker	% Reduced
brainsway ltd	-77.24
orchestra biomed holdings inc	-65.12
mineralys therapeutics inc	-53.9
inspire medical systems inc	-50.00
kura oncology inc	-49.1
syndax pharmaceuticals inc	-44.51
structure therapeutics inc	-37.29
adc therapeutics sa	-36.86

DAFNA Capital Management LLC reduced stake in above stock

Sold off

Ticker	$ Sold
compass therapeutics inc	-3,313,310
black diamond therapeutics i	-1,163,800
merus bv	-20,755,500
aprea therapeutics inc	-202,332
keros therapeutics inc	-1,276,930
korro bio inc	-2,911,900
soleno therapeutics inc	-3,582,800
sutro biopharma inc	-379,559

DAFNA Capital Management LLC got rid off the above stocks

Sector Distribution

DAFNA Capital Management LLC has about 72.4% of it's holdings in Healthcare sector.

Sector	%
Healthcare	72.4
Others	27

Market Cap. Distribution

DAFNA Capital Management LLC has about 16.2% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	27
SMALL-CAP	25.1
MID-CAP	19.8
LARGE-CAP	16.2
MICRO-CAP	11.5

Stocks belong to which Index?

About 54.8% of the stocks held by DAFNA Capital Management LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
RUSSELL 2000	52.4
Others	45.2
S&P 500	2.4

Top 5 Winners (%)		%
	structure therapeutics inc	120.7 %
TNDM	tandem diabetes care inc	81.0 %
ATXS	astria therapeutics inc	77.9 %
AXGN	axogen inc	68.5 %
RVMD	revolution medicines inc	67.7 %

Top 5 Winners ($)		$
RVMD	revolution medicines inc	20.8 M
AXGN	axogen inc	9.1 M
BIL	spdr s&p biotech etf	8.0 M
RCUS	arcus biosciences inc	5.4 M
IDYA	ideaya biosciences inc	3.9 M

Top 5 Losers (%)		%
ARAY	accuray inc	-49.0 %
ALEC	alector inc	-45.7 %
ORIC	oric pharmaceuticals inc	-28.9 %
STXS	stereotaxis inc	-26.1 %
NKTR	nektar therapeutics	-23.1 %

Top 5 Losers ($)		$
STXS	stereotaxis inc	-11.1 M
	biohaven ltd	-2.2 M
ALEC	alector inc	-1.2 M
ARAY	accuray inc	-1.1 M
INGN	inogen inc	-1.0 M

DAFNA Capital Management LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of DAFNA Capital Management LLC

DAFNA Capital Management LLC has 76 stocks in it's portfolio. About 54.9% of the portfolio is in top 10 stocks. STXS proved to be the most loss making stock for the portfolio. RVMD was the most profitable stock for DAFNA Capital Management LLC last quarter.

Last Reported on: 17 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ACET	adicet bio inc	0.18	93,812	789,897	new

ADCT	adc therapeutics sa	0.06	77,081	272,096	reduced	-36.86

ALEC	alector inc	0.33	908,351	1,417,030	added	13.78

ALGN	align technology inc	0.58	16,000	2,498,400	added	45.45

ALKS	alkermes plc	0.85	130,248	3,644,340	reduced	-3.34

ALLO	allogene therapeutics inc	0.44	1,380,120	1,890,760	unchanged	0.00

ANNX	annexon inc	0.32	272,812	1,369,520	new

APRE	aprea therapeutics inc	0.00	0.00	0.00	sold off	-100

AQST	aquestive therapeutics inc	0.56	375,915	2,428,410	reduced	-26.66

ARAY	accuray inc	0.27	1,395,510	1,150,740	added	14.17

ASND	ascendis pharma a/s	1.40	28,177	6,008,460	reduced	-15.07

ASND	ascendis pharma a/s	1.27	4,000,000	5,460,000	unchanged	0.00

ATRC	atricure inc	5.49	597,431	23,634,400	added	0.87

ATXS	astria therapeutics inc	0.93	304,775	3,989,500	reduced	-4.69

AUTL	autolus therapeutics plc	0.08	179,316	356,839	unchanged	0.00

AXGN	axogen inc	3.62	476,826	15,606,500	reduced	-35.76

BCRX	biocryst pharmaceuticals inc	0.76	418,255	3,262,390	added	91.64

BCYC	bicycle therapeutics plc	0.11	64,492	456,603	unchanged	0.00

BDTX	black diamond therapeutics i	0.00	0.00	0.00	sold off	-100

BIL	spdr s&p biotech etf	9.53	336,505	41,030,100	reduced	-16.19