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Livermore
Livermore
ZHEN

DAFNA Capital Management LLC

SEC CIK
0001389933
Latest filing
Aug 14, 2026

The latest 13F from DAFNA Capital Management LLC covers Q2 2026 (filed Aug 14, 2026): 88 long positions worth $524.4M. The top 10 holdings make up 56.2% of the portfolio, and the largest is Revolution Medicines, Inc. (RVMD) at 20.1%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
14
Est. +$16.8M
Added
18
Est. +$52.5M
Reduced
27
Est. −$70.7M
Sold out
9
Est. −$36.7M

Top 5 holdings

Share of this quarter's portfolio value

  1. RVMDRevolution Medicines, Inc.
    20.1%$105.4MHistory
  2. State Street SPDR S&P Biotech ETF78464A870
    5.9%$31.1M
  3. CMPSCOMPASS Pathways plc
    5.4%$28.5MHistory
  4. STXSStereotaxis, Inc.
    4.5%$23.5MHistory
  5. NKTRNektar Therapeutics
    4.2%$22.2MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. DNLIDenali Therapeutics Inc.
    +$10.8MAddedHistory
  2. NKTRNektar Therapeutics
    +$10.7MAddedHistory
  3. PODDInsulet Corp
    +$7.76MAddedHistory
  4. ASNDAscendis Pharma A/S
    +$6.75MAddedHistory
  5. EWTXEdgewise Therapeutics, Inc.
    +$4.66MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. DNLIDenali Therapeutics Inc.
    +2.23 pp1.4% → 3.6%History
  2. NKTRNektar Therapeutics
    +1.54 pp2.7% → 4.2%History
  3. PODDInsulet Corp
    +1.28 pp0.5% → 1.8%History
  4. ASNDAscendis Pharma A/S
    +1.26 pp1.2% → 2.5%History
  5. EWTXEdgewise Therapeutics, Inc.
    +0.95 pp0.8% → 1.8%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. DAWNDay One Biopharmaceuticals, Inc.
    −$21.0MSold outHistory
  2. State Street SPDR S&P Biotech ETF78464A870
    −$19.3MReduced
  3. BHVNBiohaven Ltd.
    −$10.5MReducedHistory
  4. MBXMBX Biosciences, Inc.
    −$9.03MReducedHistory
  5. Ascendis Pharma A/S04351PAD3
    −$5.92MSold out

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. DAWNDay One Biopharmaceuticals, Inc.
    −4.77 pp4.8% → 0.0%History
  2. State Street SPDR S&P Biotech ETF78464A870
    −3.32 pp9.3% → 5.9%
  3. Ascendis Pharma A/S04351PAD3
    −1.35 pp1.3% → 0.0%
  4. BHVNBiohaven Ltd.
    −1.24 pp1.6% → 0.4%History
  5. KALVKalVista Pharmaceuticals, Inc.
    −1.22 pp1.2% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$524.4M
+$84.8M (+19.3%) vs. prior quarter
Positions
88
+5 vs. prior quarter
Top 10 concentration
56.2%
Top 10 as share of value
Turnover
14.4%
Q2 2026, one quarter
Average holding period
15.6 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $524.4M (Q2 2026)

Q1 2021: $421.5MQ2 2021: $478.2MQ3 2021: $376.9MQ4 2021: $397.7MQ1 2022: $383.8MQ2 2022: $366.9MQ3 2022: $371.8MQ4 2022: $355.1MQ1 2023: $333.5MQ2 2023: $365.7MQ3 2023: $321.5MQ4 2023: $417.3MQ1 2024: $439.3MQ2 2024: $418.6MQ3 2024: $423.3MQ4 2024: $393.4MQ1 2025: $352.7MQ2 2025: $362.3MQ3 2025: $404.8MQ4 2025: $430.5MQ1 2026: $439.6MQ2 2026: $524.4M
Q1 2021Q2 2026
13F filings of DAFNA Capital Management LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202688$524.4MRVMDState Street SPDR S&P Biotech ETFCMPSvs. Q1 2026SEC
Q1 2026May 15, 202683$439.6MRVMDState Street SPDR S&P Biotech ETFSTXSvs. Q4 2025SEC
Q4 2025Feb 17, 202677$430.5MRVMDState Street SPDR S&P Biotech ETFSTXSvs. Q3 2025SEC
Q3 2025Nov 14, 202575$404.8MSTXSState Street SPDR S&P Biotech ETFRVMDvs. Q2 2025SEC
Q2 2025Aug 14, 202576$362.3MState Street SPDR S&P Biotech ETFSTXSRVMDvs. Q1 2025SEC
Q1 2025May 15, 202583$352.7MState Street SPDR S&P Biotech ETFSTXSRVMDvs. Q4 2024SEC
Q4 2024Feb 14, 202582$393.4MState Street SPDR S&P Biotech ETFSTXSRVMDvs. Q3 2024SEC
Q3 2024Nov 14, 202484$423.3MState Street SPDR S&P Biotech ETFSTXSRVMDvs. Q2 2024SEC
Q2 2024Aug 14, 202483$418.6MState Street SPDR S&P Biotech ETFSTXSMRUSvs. Q1 2024SEC
Q1 2024May 15, 202472$439.3MState Street SPDR S&P Biotech ETFSTXSCYTKvs. Q4 2023SEC
Q4 2023Feb 14, 202476$417.3MState Street SPDR S&P Biotech ETFCYTKSTXSvs. Q3 2023SEC
Q3 2023Nov 14, 202375$321.5MState Street SPDR S&P Biotech ETFSTXSCYTKvs. Q2 2023SEC
Q2 2023Aug 14, 202373$365.7MState Street SPDR S&P Biotech ETFISEESTXSvs. Q1 2023SEC
Q1 2023May 15, 202372$333.5MState Street SPDR S&P Biotech ETFSTXSISEEvs. Q4 2022SEC
Q4 2022Feb 14, 202379$355.1MState Street SPDR S&P Biotech ETFSTXSASNDvs. Q3 2022SEC
Q3 2022Nov 14, 202287$371.8MState Street SPDR S&P Biotech ETFSTXSBPMCvs. Q2 2022SEC
Q2 2022Aug 15, 202290$366.9MState Street SPDR S&P Biotech ETFSTXSBHVNvs. Q1 2022SEC
Q1 2022May 16, 202294$383.8MSTXSState Street SPDR S&P Biotech ETFFATEvs. Q4 2021SEC
Q4 2021Feb 14, 202287$397.7MSTXSBPMCFATEvs. Q3 2021SEC
Q3 2021Nov 15, 202180$376.9MSTXSBPMCFATEvs. Q2 2021SEC
Q2 2021Aug 16, 202184$478.2MSTXSFATEDRNAvs. Q1 2021SEC
Q1 2021May 17, 202189$421.5MSTXSFATEBPMC–SEC

13D and 13G filings

Companies where DAFNA Capital Management LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

DAFNA Capital Management LLC does not currently report owning 5% or more of any company.

Latest filings

6 filings on file made by DAFNA Capital Management LLC or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by DAFNA Capital Management LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
RGLSRegulus Therapeutics Inc.Nov 14, 202413G/AOld format–––SEC
RGLSRegulus Therapeutics Inc.Feb 14, 202413GOld format–New–SEC
ECIAEncision IncFeb 14, 202413G/AOld format–––SEC
ECIAEncision IncFeb 14, 202313G/AOld format–––SEC
ECIAEncision IncFeb 14, 202213G/AOld format–––SEC
ECIAEncision IncFeb 16, 202113G/AOld format–––SEC