SEC 13F Intelligence

Managers / Q1 2026

DAFNA Capital Management LLC

CIK 0001389933 · 10990 WILSHIRE BOULEVARD, SUITE 1400, LOS ANGELES, CA, 90024 · (310) 954-3200

Reported Value
$440M
Q1 2026
Positions
83
Filings on Record
30
2019–present window
Filed
May 15, 2026
original filing

Summary

Dafna Capital Management LLC reported $440M in U.S.-listed holdings across 83 positions for Q1 2026.

Its largest position, RVMD, represents 12.8% of the portfolio.

Compared with Q4 2025, the fund opened 10 new positions and exited 4.

Portfolio Metrics

Turnover
+13.8%
vs prior filed quarter
Top-10 Concentration
+52.4%
share of reported value
Largest Position
+12.8%
Revolution Medicines
New / Exited
10 / 4
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $201MQ4 ’18Q1 ’19: $232MQ2 ’19: $266MQ3 ’19: $266MQ4 ’19: $291MQ4 ’19Q1 ’20: $240MQ2 ’20: $347MQ3 ’20: $308MQ4 ’20: $336MQ4 ’20Q1 ’21: $421MQ2 ’21: $478MQ3 ’21: $377MQ4 ’21: $398MQ4 ’21Q1 ’22: $384MQ2 ’22: $367MQ3 ’22: $372MQ4 ’22: $355MQ4 ’22Q1 ’23: $334MQ2 ’23: $366MQ3 ’23: $321MQ4 ’23: $417MQ4 ’23Q1 ’24: $439MQ2 ’24: $419MQ3 ’24: $423MQ4 ’24: $393MQ4 ’24Q1 ’25: $353MQ2 ’25: $362MQ3 ’25: $405MQ4 ’25: $431MQ4 ’25Q1 ’26: $440Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 76.1%ETP: 11.6%Other: 6.2%ADR: 4.7%US DOMESTIC: 1.3%
  • Common Stock · 76.1% · $334M
  • ETP · 11.6% · $51M
  • Other · 6.2% · $27M
  • ADR · 4.7% · $21M
  • US DOMESTIC · 1.3% · $6M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
FULCFULCRUM THERAPEUTICS INCNEW+205.0K205.0K+$2M$2M
KIDSORTHOPEDIATRICS CORPNEW+95.7K95.7K+$2M$2M
CTMXCYTOMX THERAPEUTICS INCNEW+230.0K230.0K+$1M$1M
MAZEMAZE THERAPEUTICS INCNEW+35.0K35.0K+$1M$1M
SCYXEURSCYNEXIS INCNEW+1.09M1.09M+$996,630$996,630
ZBIOZENAS BIOPHARMA INCNEW+42.5K42.5K+$830,875$830,875
NEWAMSTERDAM PHARMA CONEW+20.0K20.0K+$640,200$640,200
PLRXPLIANT THERAPEUTICS INCNEW+487.0K487.0K+$613,620$613,620

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1RVMDREVOLUTION MEDICINES INChistory →COM12.85%$56M580.7K
2SPDR S&P BIOTECH ETFETF9.25%$41M318.5K
3RJR1STEREOTAXIS INChistory →COM NEW5.73%$25M13.68M
4DAWNGBXDAY ONE BIOPHARMACEUTICALS Ihistory →COM4.77%$21M978.5K
5ATRCATRICURE INChistory →COM3.88%$17M597.4K
6IDYAIDEAYA BIOSCIENCES INChistory →COM3.61%$16M476.7K
7XENEXENON PHARMACEUTICALS INChistory →COM3.32%$15M250.8K
8CYTKCYTOKINETICS INChistory →COM NEW3.26%$14M217.5K
9CMPSCOMPASS PATHWAYS PLChistory →SPONSORED ADS3.04%$13M2.42M
10NKTRNEKTAR THERAPEUTICShistory →COM NEW2.70%$12M165.2K
11ASCENDIS PHARMA A/SNOTE 2.250% 4/0 · SPONSORED ADR2.55%$11M4.02M
12ISHARES NASDAQ BIOTECH INDXETF2.39%$10M62.1K
13RCUSARCUS BIOSCIENCES INChistory →COM2.18%$10M443.8K
14NBIXNEUROCRINE BIOSCIENCES INChistory →COM2.12%$9M70.6K
15LRMRLARIMAR THERAPEUTICS INChistory →COM2.08%$9M2.03M
16BCAXBICARA THERAPEUTICS INChistory →COM1.91%$8M421.7K
17AXGNAXOGEN INChistory →COM1.88%$8M250.0K
18BIOHAVEN LTDCOM1.63%$7M845.7K
19TNDMTANDEM DIABETES CARE INChistory →COM NEW1.55%$7M355.2K
20DNLIDENALI THERAPEUTICS INChistory →COM1.39%$6M318.5K
21IPSCCENTURY THERAPEUTICS INChistory →COM1.25%$6M2.43M
22DC4DEXCOM INChistory →COM1.23%$5M86.3K
234XC1KALVISTA PHARMACEUTICALS INChistory →COM1.22%$5M267.4K
24MBXMBX BIOSCIENCES INChistory →COM1.19%$5M175.5K
25INGNINOGEN INChistory →COM1.19%$5M845.2K
26SNDXSYNDAX PHARMACEUTICALS INChistory →COM1.16%$5M217.4K
27ALKERMES PLCSHS1.12%$5M139.5K
28STOKSTOKE THERAPEUTICS INCCOM0.97%$4M130.9K
29BCRXBIOCRYST PHARMACEUTICALS INCCOM0.93%$4M430.2K
30GALAPAGOS NVSPON ADR0.89%$4M130.2K
31IMVTIMMUNOVANT INCCOM0.85%$4M150.5K
32EWTXEDGEWISE THERAPEUTICS INCCOM0.80%$4M112.2K
33MPLTMAPLIGHT THERAPEUTICS INCCOM0.79%$3M171.0K
34ALLOALLOGENE THERAPEUTICS INCCOM0.76%$3M1.37M
35PRCTPROCEPT BIOROBOTICS CORPCOM0.68%$3M120.0K
36AFWALIGN TECHNOLOGY INCCOM0.58%$3M15.0K
37PROQR THERAPEUTICS N VSHS EURO0.58%$3M1.57M
38HELPCYBIN INCCOM NEW0.54%$2M498.4K
39RAPPRAPPORT THERAPEUTICS INCCOM0.53%$2M75.0K
40PODDINSULET CORPCOM0.52%$2M10.9K
41GPCRSTRUCTURE THERAPEUTICS INCSPONSORED ADS0.51%$2M46.5K
42IMMATICS NVSHS0.51%$2M225.9K
43TCE2CELLDEX THERAPEUTICS INCCOM NEW0.49%$2M68.5K
44LXEOLEXEO THERAPEUTICS INCCOM0.49%$2M377.1K
45ALECALECTOR INCCOM0.44%$2M908.4K
46VKTXVIKING THERAPEUTICS INCCOM0.44%$2M59.5K
47KURAKURA ONCOLOGY INCCOM0.44%$2M235.9K
48PRNPROFOUND MEDICAL CORPCOM NEW0.39%$2M263.0K
49FULCFULCRUM THERAPEUTICS INCCOM0.36%$2M205.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$440M83May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$431M77Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$405M75Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$362M76Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$353M83May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$393M82Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$423M84Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$419M83Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$439M72May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$417M76Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$321M75Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$366M73Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$334M72May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$355M79Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$372M87Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$367M90Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$384M94May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$398M87Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$377M80Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$478M84Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$421M89May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$336M74Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$308M80Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$347M87Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$240M80May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$291M81Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$266M89Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$266M87Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$232M79May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$201M83Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • Fischel Nathan028-12328

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.