1y return+104.8%S&P 500 +20.9%
3y return+110.6%S&P 500 +68.5%
5y return+30.2%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2016: $477 against $334 in the S&P 500.2
DAFNA Capital Management LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| RVMDRevolution Medicines Inc | $105.4M | 20.1% | −3.1% |
| XBISpdr S&p Biotech Etf | $31.1M | 5.9% | −38.3% |
| CMPSCompass Pathways PLC | $28.5M | 5.4% | −16.8% |
| STXSStereotaxis Inc | $23.5M | 4.5% | |
| NKTRNektar Therapeutics | $22.2M | 4.2% | +92.7% |
| DNLIDenali Therapeutics Inc | $19.0M | 3.6% | +132.0% |
| IDYAIdeaya Biosciences Inc | $18.5M | 3.5% | +4.3% |
| ATRCAtricure Inc | $16.7M | 3.2% | |
| XENEXenon Pharmaceuticals Inc | $15.1M | 2.9% | |
| CYTKCytokinetics Inc | $14.7M | 2.8% | −20.9% |
| RCUSArcus Biosciences Inc | $13.6M | 2.6% | |
| Ascendis Pharma A/sCUSIP K08588103 | $12.9M | 2.5% | New |
| NBIXNeurocrine Biosciences Inc | $9.7M | 1.9% | −18.2% |
| AXGNAxogen Inc | $9.7M | 1.8% | −16.4% |
| PODDInsulet Corp | $9.4M | 1.8% | +469.2% |
| EWTXEdgewise Therapeutics Inc | $9.2M | 1.8% | +102.1% |
| BCAXBicara Therapeutics Inc | $8.5M | 1.6% | −32.4% |
| IBBIshares Nasdaq Biotech Indx | $8.1M | 1.5% | −31.4% |
| SNDXSyndax Pharmaceuticals Inc | $7.3M | 1.4% | +54.2% |
| MPLTMaplight Therapeutics Inc | $6.1M | 1.2% | |
| LRMRLarimar Therapeutics Inc | $6.1M | 1.2% | −1.0% |
| IPSCCentury Therapeutics Inc | $5.9M | 1.1% | −1.4% |
| DXCMDexcom Inc | $5.8M | 1.1% | |
| IMVTImmunovant Inc | $5.8M | 1.1% | |
| INGNInogen Inc | $5.5M | 1.0% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| AXGNAxogen Inc | December 31, 2021 | +393.0% | $9.7M |
| XENEXenon Pharmaceuticals Inc | June 30, 2020 | +381.3% | $15.1M |
| RVMDRevolution Medicines Inc | December 31, 2020 | +373.0% | $105.4M |
| EWTXEdgewise Therapeutics Inc | March 31, 2022 | +318.9% | $9.2M |
| IDYAIdeaya Biosciences Inc | September 30, 2020 | +196.7% | $18.5M |
| NKTRNektar Therapeutics | June 30, 2025 | +170.2% | $22.2M |
| STOKStoke Therapeutics Inc | March 31, 2024 | +142.4% | $4.3M |
| CYTKCytokinetics Inc | September 30, 2021 | +138.4% | $14.7M |
| Alkermes PLCCUSIP G01767105 | June 30, 2024 | +117.4% | $5.3M |
| MPLTMaplight Therapeutics Inc | December 31, 2025 | +104.0% | $6.1M |
Sold off last quarter
- Day One Biopharmaceuticals ICUSIP 23954D109 was $21.0M
- Kalvista Pharmaceuticals IncCUSIP 483497103 was $5.4M
- Ascendis Pharma A/sCUSIP 04351P101 was $5.3M
- FULCFulcrum Therapeutics Inc was $1.6M
- Engene Holdings IncCUSIP 29286M105 was $1.3M
- Scynexis IncCUSIP 811292200 was $997K
- ORICOric Pharmaceuticals Inc was $945K
- ZBIOZenas Biopharma Inc was $831K
- Newamsterdam Pharma CoCUSIP N62509109 was $640K
- KPTIKaryopharm Therapeutics Inc was $255K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +30.6% | +14.8% |
| March 31, 2026 | +3.2% | −4.6% |
| December 31, 2025 | +18.8% | +2.4% |
| September 30, 2025 | +27.9% | +7.8% |
| June 30, 2025 | +6.0% | +10.5% |
| March 31, 2025 | −13.3% | −4.6% |
| December 31, 2024 | −10.0% | +2.1% |
| September 30, 2024 | +4.8% | +5.4% |
| June 30, 2024 | −11.4% | +4.0% |
| March 31, 2024 | +13.8% | +10.0% |
| December 31, 2023 | +36.3% | +11.2% |
| September 30, 2023 | −13.7% | −3.6% |
| June 30, 2023 | +10.0% | +8.3% |
| March 31, 2023 | −5.7% | +7.0% |
| December 31, 2022 | +0.1% | +7.1% |
| September 30, 2022 | +11.2% | −5.3% |
| June 30, 2022 | −19.1% | −16.5% |
| March 31, 2022 | −22.0% | −4.9% |
| December 31, 2021 | +5.4% | +10.7% |
| September 30, 2021 | −19.5% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: DAFNA Capital Management LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1389933&type=13F-HR&dateb=&owner=include&count=40CIK 1389933
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1389933/000138993326000006/Filed August 14, 2026 · accession 0001389933-26-000006