DAFNA Capital Management LLC

Registered adviser

CIK

1389933

Location

LOS ANGELES, CA

Portfolio Value

Small $524,362,832

Diversification

Diversified

Reports for

Fischel Nathan

Filing Date

Global Rank

#3,726 / 8,818 ▲ 130

Top Industry

Biotechnology 71.2%

Period ended 4 months ago

Filed Aug 14, 2026 · 2mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 129053

Roster of Oct 1, 2026

Regulatory AUM

$645,210,327

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

6 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$1,281,528,967 gross assets

LEI

254900W3EEPXDZYS3V12

Private funds on Schedule D 7.B.(1)

As filed Mar 27, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$1,291,616,875 gross assets in 6 funds Hedge funds $1,291,616,875 (6)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Oct 2026	$645,210,327	Pooled investment vehicles (100%)
Apr 2025 to Mar 2026	$537,691,399	Pooled investment vehicles (100%)
Apr 2024 to Mar 2025	$647,896,107	Pooled investment vehicles (100%)
May 2023 to Mar 2024	$542,728,476	Pooled investment vehicles (100%)
Apr 2023	$542,728,476	Pooled investment vehicles (100%)
Apr 2022 to Mar 2023	$589,457,792	Pooled investment vehicles (100%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 56.2%, 16.4 effective positions, active share 97.2% against the Russell 2000 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

38.9% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 17.2 quarters (12+), a floor since 20.3% of the book was already held when coverage starts

Closest benchmark: the Russell 2000 as of 2026-06-30, active share 97.2%; sector active share 83.4% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

88 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

20.1%

+7.1 pts

Top 5

40.2%

+3.2 pts

Top 10

56.2%

+3.1 pts

HHI

609

Diversified+170

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Healthcare	92.5%	$485,164,773	86
Unclassified	7.5%	$39,198,059	2

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

18 positions

Ticker	Company	Δ Shares	Shares	Value
ALLO	Allogene Therapeutics, Inc.	+629,882	2,000,000	$4,160,000
DNLI	Denali Therapeutics Inc.	+420,514	739,014	$19,007,440
AQST	Aquestive Therapeutics, Inc.	+277,500	645,915	$2,687,006
CTMX	CytomX Therapeutics, Inc.	+208,407	438,407	$1,644,026
ANNX	Annexon, Inc.	+180,000	297,812	$1,700,506
NKTR	Nektar Therapeutics	+153,202	318,380	$22,226,107
SNDX	Syndax Pharmaceuticals Inc	+117,900	335,255	$7,328,674
EWTX	Edgewise Therapeutics, Inc.	+114,583	226,819	$9,215,655
KIDS	Orthopediatrics Corp	+93,471	189,130	$3,618,056
PODD	Insulet Corp	+51,000	61,870	$9,419,707
NGNE	Neurogene Inc.	+32,397	89,032	$2,800,056
MAZE	Maze Therapeutics, Inc.	+30,000	65,000	$1,939,600
ASND	Ascendis Pharma A/S	+25,292	48,469	$12,927,651
SPRY	ARS Pharmaceuticals, Inc.	+25,000	164,285	$1,315,922
IDYA	IDEAYA Biosciences, Inc.	+20,500	497,240	$18,532,134
HELP	Helus Pharma Inc.	+15,700	514,061	$3,397,943
MLYS	Mineralys Therapeutics, Inc.	+6,000	44,490	$1,200,340
ADCT	ADC Therapeutics SA	+5,000	77,081	$82,476
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
SCYX	Scynexis Inc	−951,088	135,868	$552,982
BHVN	Biohaven Ltd.	−708,142	137,593	$2,047,383
CMPS	COMPASS Pathways plc	−406,930	2,011,952	$28,469,120
MBX	MBX Biosciences, Inc.	−163,656	11,809	$651,856
BCAX	Bicara Therapeutics Inc.	−136,778	284,955	$8,460,313
VRCA	Verrica Pharmaceuticals Inc.	−129,962	23,750	$145,350
XBI	State Street(R) SPDR(R) S&P(R) Biotech ETF	−122,000	196,505	$31,096,916
KURA	Kura Oncology, Inc.	−115,300	120,568	$1,322,630
ENGN	enGene Therapeutics Inc.	−112,703	74,650	$129,144
IMTX	Immatics N.V.	−108,900	116,960	$1,184,804
CGEN	Compugen Ltd	−89,551	168,232	$360,016
CYTK	Cytokinetics Inc	−45,499	171,998	$14,652,509
AXGN	Axogen, Inc.	−41,000	208,960	$9,651,862
ALKS	Alkermes plc.	−38,216	101,266	$5,306,338
PRQR	ProQR Therapeutics N.V.	−37,200	1,530,361	$2,846,471
IPSC	Century Therapeutics, Inc.	−33,895	2,400,458	$5,881,122
BCRX	Biocryst Pharmaceuticals Inc	−30,000	400,248	$4,002,480
FATE	Fate Therapeutics Inc	−25,000	525,000	$1,417,500
IBIO	iBio, Inc.	−23,585	170,053	$297,592
LRMR	Larimar Therapeutics, Inc.	−21,000	2,008,164	$6,124,900
—		−19,500	42,595	$8,101,143
RVMD	Revolution Medicines, Inc.	−18,048	562,630	$105,369,346
RARE	Ultragenyx Pharmaceutical Inc.	−14,000	47,100	$1,572,669
NBIX	Neurocrine Biosciences Inc	−12,846	57,769	$9,736,387
PROF	Profound Medical Corp.	−2,645	260,360	$1,731,394
No positions match the current search.

New Positions

Positions the filer opened this quarter

14 positions

Ticker	Company	Shares	Value
KYMR	Kymera Therapeutics, Inc.	27,000	$3,096,090
ANL	Adlai Nortye Group Ltd.	239,553	$2,754,859
NGEN	Nervgen Pharma Corp.	1,050,000	$2,163,000
RNA	Atrium Therapeutics, Inc.	128,000	$1,721,600
EPRX	Eupraxia Pharmaceuticals Inc.	225,600	$1,491,216
DSGN	Design Therapeutics, Inc.	102,600	$1,484,622
CRBP	Corbus Pharmaceuticals Holdings, Inc.	107,773	$1,010,910
SPTX	Seaport Therapeutics, Inc.	32,400	$703,728
ARTV	Artiva Biotherapeutics, Inc.	67,101	$650,879
EDIT	Editas Medicine, Inc.	170,470	$552,322
QTTB	Q32 Bio Inc.	32,896	$419,095
NVCT	Nuvectis Pharma, Inc.	20,000	$367,800
TNYA	Tenaya Therapeutics, Inc.	300,000	$221,700
KARD	Kardigan, Inc.	5,000	$119,250
No positions match the current search.

Sold Out

Positions the filer fully exited

8 positions

Ticker	Company	Shares	Value
—		978,463	$20,978,247
—		267,402	$5,382,802
FULC	Fulcrum Therapeutics, Inc.	205,000	$1,572,350
ORIC	Oric Pharmaceuticals, Inc.	98,724	$1,250,833
ZBIO	Zenas BioPharma, Inc.	42,500	$830,875
NAMS	NewAmsterdam Pharma Co N.V.	20,000	$640,200
KPTI	Karyopharm Therapeutics Inc.	45,800	$255,106
NMRA	Neumora Therapeutics, Inc.	70,000	$136,500
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

88 tracked positions · $524,362,832 total · filing declares 88 positions · $524,358,409 · as of Jun 30, 2026

All sectors Healthcare

Showing 1–50 of 88 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
RVMD	Revolution Medicines, Inc. Healthcare	Reduced	562,630	-18,048	$105,369,346	+86.6%	23	$33.32	20.09%
XBI	State Street(R) SPDR(R) S&P(R) Biotech ETF	Reduced	196,505	-122,000	$31,096,916	−23.6%	18	unpriced	5.93%
CMPS	COMPASS Pathways plc Healthcare	Reduced	2,011,952	-406,930	$28,469,120	+112.8%	12	$6.28	5.43%
STXS	Stereotaxis, Inc. Healthcare	Held	13,680,554	0	$23,530,552	−6.5%	26+	before history	4.49%
NKTR	Nektar Therapeutics Healthcare	Added	318,380	+153,202	$22,226,107	+87.0%	5	unpriced	4.24%
DNLI	Denali Therapeutics Inc. Healthcare	Added	739,014	+420,514	$19,007,440	+210.8%	6	$19.21	3.62%
IDYA	IDEAYA Biosciences, Inc. Healthcare	Added	497,240	+20,500	$18,532,134	+16.7%	24	$19.65	3.53%
ATRC	AtriCure, Inc. Healthcare	Held	597,431	0	$16,716,119	−1.9%	26+	before history	3.19%
XENE	Xenon Pharmaceuticals Inc. Healthcare	Held	250,772	0	$15,136,597	+3.8%	26+	before history	2.89%
CYTK	Cytokinetics Inc Healthcare	Reduced	171,998	-45,499	$14,652,509	+2.2%	20	$34.56	2.79%
RCUS	Arcus Biosciences, Inc. Healthcare	Reduced	441,829	-2,000	$13,621,588	+42.1%	26+	before history	2.60%
ASND	Ascendis Pharma A/S Healthcare	Added	48,469	+25,292	$12,927,651	+143.9%	19	$173.87	2.47%
NBIX	Neurocrine Biosciences Inc Healthcare	Reduced	57,769	-12,846	$9,736,387	+4.7%	26+	before history	1.86%
AXGN	Axogen, Inc. Healthcare	Reduced	208,960	-41,000	$9,651,862	+16.6%	19	$9.09	1.84%
PODD	Insulet Corp Healthcare	Added	61,870	+51,000	$9,419,707	+313.0%	10	$174.29	1.80%
EWTX	Edgewise Therapeutics, Inc. Healthcare	Added	226,819	+114,583	$9,215,655	+160.7%	18	$22.97	1.76%
BCAX	Bicara Therapeutics Inc. Healthcare	Reduced	284,955	-136,778	$8,460,313	+0.9%	7	$16.05	1.61%
		Reduced	42,595	-19,500	$8,101,143	−22.7%	26+	before history	1.54%
SNDX	Syndax Pharmaceuticals Inc Healthcare	Added	335,255	+117,900	$7,328,674	+44.3%	25	$18.86	1.40%
MPLT	MapLight Therapeutics, Inc. Healthcare	Held	171,006	0	$6,128,855	+76.3%	3	$16.93	1.17%
LRMR	Larimar Therapeutics, Inc. Healthcare	Reduced	2,008,164	-21,000	$6,124,900	−32.9%	25	$4.22	1.17%
IPSC	Century Therapeutics, Inc. Healthcare	Reduced	2,400,458	-33,895	$5,881,122	+6.9%	21	unpriced	1.12%
DXCM	Dexcom Inc Healthcare	Held	86,279	0	$5,810,890	+7.2%	26+	before history	1.11%
IMVT	Immunovant, Inc. Healthcare	Reduced	149,524	-1,000	$5,761,159	+54.1%	12	$24.59	1.10%
INGN	Inogen Inc Healthcare	Held	845,179	0	$5,451,404	+4.4%	26+	before history	1.04%
TNDM	Tandem Diabetes Care Inc Healthcare	Held	355,208	0	$5,360,088	−21.3%	13	$26.87	1.02%
ALKS	Alkermes plc. Healthcare	Reduced	101,266	-38,216	$5,306,338	+7.6%	9	$26.09	1.01%
STOK	Stoke Therapeutics, Inc. Healthcare	Held	130,875	0	$4,282,230	+0.5%	10	$12.99	0.82%
ALLO	Allogene Therapeutics, Inc. Healthcare	Added	2,000,000	+629,882	$4,160,000	+24.4%	9	$2.53	0.79%
BCRX	Biocryst Pharmaceuticals Inc Healthcare	Reduced	400,248	-30,000	$4,002,480	−2.3%	15	$8.65	0.76%
LKFT	Lakefront Biotherapeutics NV Healthcare	Held	130,175	0	$3,902,646	−0.1%	26+	before history	0.74%
KIDS	Orthopediatrics Corp Healthcare	Added	189,130	+93,471	$3,618,056	+138.3%	2	$17.43	0.69%
HELP	Helus Pharma Inc. Healthcare	Added	514,061	+15,700	$3,397,943	+42.0%	3	$6.40	0.65%
RAPP	Rapport Therapeutics, Inc. Healthcare	Held	75,000	0	$3,125,250	+33.2%	4	$17.84	0.60%
KYMR	Kymera Therapeutics, Inc. Healthcare	NEW	27,000	NEW	$3,096,090	NEW	1	$85.92	0.59%
PRQR	ProQR Therapeutics N.V. Healthcare	Reduced	1,530,361	-37,200	$2,846,471	+12.1%	14	$3.11	0.54%
NGNE	Neurogene Inc. Healthcare	Added	89,032	+32,397	$2,800,056	+145.2%	9	$27.85	0.53%
ANL	Adlai Nortye Group Ltd. Healthcare	NEW	239,553	NEW	$2,754,859	NEW	1	$12.17	0.53%
PRCT	PROCEPT BioRobotics Corp Healthcare	Held	120,000	0	$2,709,600	−9.7%	3	$33.16	0.52%
AQST	Aquestive Therapeutics, Inc. Healthcare	Added	645,915	+277,500	$2,687,006	+75.7%	10	$4.12	0.51%
CLDX	Celldex Therapeutics, Inc. Healthcare	Held	68,518	0	$2,549,554	+17.3%	4	$25.21	0.49%
GPCR	Structure Therapeutics Inc. Healthcare	Held	46,500	0	$2,495,655	+11.3%	9	$40.36	0.48%
ALGN	Align Technology Inc Healthcare	Reduced	14,000	-1,000	$2,361,240	−8.2%	7	$189.05	0.45%
VKTX	Viking Therapeutics, Inc. Healthcare	Held	59,516	0	$2,321,719	+19.9%	26+	before history	0.44%
NGEN	Nervgen Pharma Corp. Healthcare	NEW	1,050,000	NEW	$2,163,000	NEW	1	$3.10	0.41%
BHVN	Biohaven Ltd. Healthcare	Reduced	137,593	-708,142	$2,047,383	−71.4%	16	unpriced	0.39%
MAZE	Maze Therapeutics, Inc. Healthcare	Added	65,000	+30,000	$1,939,600	+85.7%	2	$35.86	0.37%
ALEC	Alector, Inc. Healthcare	Held	908,351	0	$1,825,785	−6.5%	20	$10.71	0.35%
LXEO	Lexeo Therapeutics, Inc. Healthcare	Held	377,059	0	$1,755,209	−18.9%	8	$10.13	0.33%
PROF	Profound Medical Corp. Healthcare	Reduced	260,360	-2,645	$1,731,394	+1.6%	3	$6.43	0.33%

Showing the top 50 of 88 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.