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DAFNA Capital Management LLC

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13F filer, CIK 1389933, LOS ANGELES, CA

DAFNA Capital Management LLC reported $430,518,714 across 77 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 54.85% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001389933-26-000002

Period
2025-12-31
Reported value
$431M
Holdings
77
Top 10 weight
54.85%
New
12
Sold out
10

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BHVNadded+720,000$8.13M
PRCTnew+120,000$3.78M
HELPnew+455,018$3.72M
MBXadded+80,265$2.53M
MPLTnew+143,764$2.53M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MERUS N Vexited-220,451-$20.8M
AXGNreduced-265,456-$8.69M
XBIreduced-65,000-$7.93M
IBBreduced-34,405-$5.81M
SNDXreduced-222,847-$4.68M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001389933-26-000002, largest first. % of portfolio is the value over $430,518,714, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 517,994 shares; 2024Q4: 631,176 shares; 2025Q1: 656,176 shares; 2025Q2: 677,176 shares; 2025Q3: 657,176 shares; 2025Q4: 604,514 shares 604,514$48.1M11.18%-52,662Timeline
XBISPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 401,505 shares; 2024Q4: 397,505 shares; 2025Q1: 404,505 shares; 2025Q2: 415,505 shares; 2025Q3: 401,505 shares; 2025Q4: 336,505 shares 336,505$41M9.53%-65,000Timeline
STXSSTEREOTAXIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,680,554 shares; 2024Q4: 13,680,554 shares; 2025Q1: 13,680,554 shares; 2025Q2: 13,680,554 shares; 2025Q3: 13,680,554 shares; 2025Q4: 13,680,554 shares 13,680,554$31.5M7.31%0Timeline
ATRCATRICURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 641,673 shares; 2024Q4: 641,673 shares; 2025Q1: 592,273 shares; 2025Q2: 592,273 shares; 2025Q3: 592,273 shares; 2025Q4: 597,431 shares 597,431$23.6M5.49%+5,158Timeline
CYTKCYTOKINETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 398,100 shares; 2024Q4: 398,100 shares; 2025Q1: 398,100 shares; 2025Q2: 398,100 shares; 2025Q3: 394,940 shares; 2025Q4: 370,997 shares 370,997$23.6M5.48%-23,943Timeline
IDYAIDEAYA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 471,410 shares; 2024Q4: 498,827 shares; 2025Q1: 589,330 shares; 2025Q2: 619,090 shares; 2025Q3: 539,923 shares; 2025Q4: 506,740 shares 506,740$17.5M4.07%-33,183Timeline
AXGNAXOGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 935,894 shares; 2024Q4: 846,882 shares; 2025Q1: 680,782 shares; 2025Q2: 741,782 shares; 2025Q3: 742,282 shares; 2025Q4: 476,826 shares 476,826$15.6M3.63%-265,456Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 273,739 shares; 2024Q4: 273,739 shares; 2025Q1: 273,739 shares; 2025Q2: 287,939 shares; 2025Q3: 287,939 shares; 2025Q4: 287,939 shares 287,939$12.9M3%0Timeline
IBBISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 102,500 shares; 2024Q4: 102,500 shares; 2025Q1: 102,500 shares; 2025Q2: 102,500 shares; 2025Q3: 102,500 shares; 2025Q4: 68,095 shares 68,095$11.5M2.67%-34,405Timeline
BHVNBIOHAVEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 187,130 shares; 2024Q4: 220,235 shares; 2025Q1: 220,235 shares; 2025Q2: 235,235 shares; 2025Q3: 235,235 shares; 2025Q4: 955,235 shares 955,235$10.8M2.51%+720,000Timeline
RCUSARCUS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 256,717 shares; 2024Q4: 254,217 shares; 2025Q1: 625,126 shares; 2025Q2: 627,626 shares; 2025Q3: 627,626 shares; 2025Q4: 431,329 shares 431,329$10.3M2.39%-196,297Timeline
NBIXNEUROCRINE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 69,615 shares; 2024Q4: 71,615 shares; 2025Q1: 71,615 shares; 2025Q2: 70,615 shares; 2025Q3: 70,615 shares; 2025Q4: 70,615 shares 70,615$10M2.33%0Timeline
DAWNDAY ONE BIOPHARMACEUTICALS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 750,363 shares; 2024Q4: 731,363 shares; 2025Q1: 731,363 shares; 2025Q2: 879,163 shares; 2025Q3: 999,163 shares; 2025Q4: 999,163 shares 999,163$9.31M2.16%0Timeline
TNDMTANDEM DIABETES CARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 204,208 shares; 2024Q4: 223,208 shares; 2025Q1: 294,208 shares; 2025Q2: 294,208 shares; 2025Q3: 355,208 shares; 2025Q4: 355,208 shares 355,208$7.81M1.81%0Timeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 89,572 shares; 2024Q4: 103,355 shares; 2025Q1: 80,398 shares; 2025Q2: 72,677 shares; 2025Q3: 33,177 shares; 2025Q4: 28,177 shares 28,177$6.01M1.4%-5,000Timeline
DXCMDEXCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 65,552 shares; 2024Q4: 65,552 shares; 2025Q1: 65,552 shares; 2025Q2: 65,552 shares; 2025Q3: 65,552 shares; 2025Q4: 88,279 shares 88,279$5.86M1.36%+22,727Timeline
SNDXSYNDAX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 526,702 shares; 2024Q4: 542,002 shares; 2025Q1: 544,502 shares; 2025Q2: 543,602 shares; 2025Q3: 500,702 shares; 2025Q4: 277,855 shares 277,855$5.84M1.36%-222,847Timeline
KALVKALVISTA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 723,678 shares; 2024Q4: 811,678 shares; 2025Q1: 752,359 shares; 2025Q2: 581,757 shares; 2025Q3: 422,731 shares; 2025Q4: 356,802 shares 356,802$5.76M1.34%-65,929Timeline
CMPSCOMPASS PATHWAYS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 243,210 shares; 2024Q4: 243,210 shares; 2025Q1: 711,046 shares; 2025Q2: 811,046 shares; 2025Q3: 811,046 shares; 2025Q4: 811,046 shares 811,046$5.6M1.3%0Timeline
INGNINOGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 208,790 shares; 2024Q4: 208,790 shares; 2025Q1: 458,065 shares; 2025Q2: 605,625 shares; 2025Q3: 605,625 shares; 2025Q4: 827,071 shares 827,071$5.56M1.29%+221,446Timeline
DNLIDENALI THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 127,900 shares; 2025Q2: 168,500 shares; 2025Q3: 168,500 shares; 2025Q4: 318,500 shares 318,500$5.26M1.22%+150,000Timeline
MBXMBX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 85,000 shares; 2025Q4: 165,265 shares 165,265$5.21M1.21%+80,265Timeline
BCAXBICARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 105,500 shares; 2025Q1: 212,001 shares; 2025Q2: 317,001 shares; 2025Q3: 317,001 shares; 2025Q4: 261,583 shares 261,583$4.4M1.02%-55,418Timeline
LKFTLAKEFRONT BIOTHERAPEUTICS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 130,175 shares; 2024Q4: 130,175 shares; 2025Q1: 130,175 shares; 2025Q2: 130,175 shares; 2025Q3: 130,175 shares; 2025Q4: 130,175 shares 130,175$4.26M0.99%0Timeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 254,165 shares; 2024Q4: 299,775 shares; 2025Q1: 314,775 shares; 2025Q2: 324,775 shares; 2025Q3: 319,775 shares; 2025Q4: 304,775 shares 304,775$3.99M0.93%-15,000
EWTXEDGEWISE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 227,906 shares; 2024Q4: 187,140 shares; 2025Q1: 183,140 shares; 2025Q2: 238,140 shares; 2025Q3: 213,736 shares; 2025Q4: 159,736 shares 159,736$3.96M0.92%-54,000Timeline
IMVTIMMUNOVANT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,996 shares; 2024Q4: 107,996 shares; 2025Q1: 169,996 shares; 2025Q2: 191,493 shares; 2025Q3: 191,493 shares; 2025Q4: 150,524 shares 150,524$3.83M0.89%-40,969Timeline
PRCTPROCEPT BIOROBOTICS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,000 shares; 2025Q3: not reported; 2025Q4: 120,000 shares 120,000$3.78M0.88%newTimeline
HELPCYBIN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 455,018 shares 455,018$3.72M0.86%newTimeline
ALKSALKERMES PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 120,700 shares; 2024Q4: 120,700 shares; 2025Q1: 94,200 shares; 2025Q2: 103,748 shares; 2025Q3: 134,748 shares; 2025Q4: 130,248 shares 130,248$3.64M0.85%-4,500Timeline
LRMRLARIMAR THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 494,274 shares; 2024Q4: 371,434 shares; 2025Q1: 371,434 shares; 2025Q2: 371,434 shares; 2025Q3: 1,027,764 shares; 2025Q4: 939,164 shares 939,164$3.58M0.83%-88,600Timeline
STOKSTOKE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 207,427 shares; 2024Q4: 171,097 shares; 2025Q1: 443,998 shares; 2025Q2: 501,972 shares; 2025Q3: 169,791 shares; 2025Q4: 108,875 shares 108,875$3.46M0.8%-60,916Timeline
LXEOLEXEO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,583 shares; 2024Q4: 393,083 shares; 2025Q1: 378,083 shares; 2025Q2: 378,083 shares; 2025Q3: 358,083 shares; 2025Q4: 340,859 shares 340,859$3.38M0.79%-17,224Timeline
BCRXBIOCRYST PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 667,000 shares; 2024Q4: 667,000 shares; 2025Q1: 558,255 shares; 2025Q2: 218,255 shares; 2025Q3: 218,255 shares; 2025Q4: 418,255 shares 418,255$3.26M0.76%+200,000Timeline
NKTRNEKTAR THERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,000 shares; 2025Q3: 54,998 shares; 2025Q4: 74,998 shares 74,998$3.17M0.74%+20,000Timeline
PRQRPROQR THRAPEUTICS N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 905,582 shares; 2024Q4: 1,567,561 shares; 2025Q1: 1,567,561 shares; 2025Q2: 1,567,561 shares; 2025Q3: 1,567,561 shares; 2025Q4: 1,567,561 shares 1,567,561$3.17M0.74%0Timeline
IPSCCENTURY THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,704,232 shares; 2024Q4: 1,704,232 shares; 2025Q1: 1,704,232 shares; 2025Q2: 1,704,232 shares; 2025Q3: 1,704,232 shares; 2025Q4: 2,793,586 shares 2,793,586$2.78M0.65%+1,089,354Timeline
IMTXIMMATICS N.VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 145,000 shares; 2024Q4: 245,000 shares; 2025Q1: 245,000 shares; 2025Q2: 245,000 shares; 2025Q3: 235,000 shares; 2025Q4: 261,138 shares 261,138$2.74M0.64%+26,138Timeline
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,000 shares; 2024Q4: 35,500 shares; 2025Q1: 59,000 shares; 2025Q2: 59,000 shares; 2025Q3: 59,000 shares; 2025Q4: 37,000 shares 37,000$2.57M0.6%-22,000Timeline
MPLTMAPLIGHT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 143,764 shares 143,764$2.53M0.59%newTimeline
ALGNALIGN TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 5,500 shares; 2025Q1: 11,000 shares; 2025Q2: 11,000 shares; 2025Q3: 11,000 shares; 2025Q4: 16,000 shares 16,000$2.5M0.58%+5,000Timeline
KURAKURA ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 408,368 shares; 2024Q4: 448,368 shares; 2025Q1: 463,368 shares; 2025Q2: 463,368 shares; 2025Q3: 463,368 shares; 2025Q4: 235,868 shares 235,868$2.45M0.57%-227,500Timeline
AQSTAQUESTIVE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 589,561 shares; 2024Q4: 127,000 shares; 2025Q1: 142,000 shares; 2025Q2: 142,000 shares; 2025Q3: 512,589 shares; 2025Q4: 375,915 shares 375,915$2.43M0.56%-136,674Timeline
RAPPRAPPORT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 75,000 shares; 2025Q4: 75,000 shares 75,000$2.28M0.53%0Timeline
PROFPROFOUND MED CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 285,710 shares 285,710$2.25M0.52%newTimeline
SPRYARS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 148,294 shares; 2024Q4: 88,790 shares; 2025Q1: 95,290 shares; 2025Q2: not reported; 2025Q3: 140,500 shares; 2025Q4: 190,065 shares 190,065$2.21M0.51%+49,565Timeline
MDWDMEDIWOUND LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 64,479 shares; 2024Q4: 64,479 shares; 2025Q1: 64,479 shares; 2025Q2: 64,479 shares; 2025Q3: 113,612 shares; 2025Q4: 113,612 shares 113,612$2.1M0.49%0Timeline
VKTXVIKING THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 125,616 shares; 2024Q4: 64,516 shares; 2025Q1: 64,516 shares; 2025Q2: 64,516 shares; 2025Q3: 64,516 shares; 2025Q4: 59,516 shares 59,516$2.09M0.49%-5,000Timeline
PODDINSULET CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,900 shares; 2024Q4: 12,400 shares; 2025Q1: 11,900 shares; 2025Q2: 9,900 shares; 2025Q3: 6,870 shares; 2025Q4: 6,870 shares 6,870$1.95M0.45%0Timeline
ALLOALLOGENE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,050,118 shares; 2024Q4: 1,240,118 shares; 2025Q1: 1,380,118 shares; 2025Q2: 1,380,118 shares; 2025Q3: 1,380,118 shares; 2025Q4: 1,380,118 shares 1,380,118$1.89M0.44%0Timeline
CLDXCELLDEX THERAPEUTICS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 24,518 shares; 2025Q4: 68,518 shares 68,518$1.86M0.43%+44,000Timeline
TELATELA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,441,029 shares; 2025Q1: 1,441,029 shares; 2025Q2: 1,441,029 shares; 2025Q3: 1,441,029 shares; 2025Q4: 1,441,029 shares 1,441,029$1.7M0.39%0Timeline
ENGNENGENE HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 163,645 shares 163,645$1.48M0.34%newTimeline
VRCAVERRICA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 173,451 shares 173,451$1.44M0.33%newTimeline
ALECALECTOR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 912,928 shares; 2024Q4: 912,928 shares; 2025Q1: 912,928 shares; 2025Q2: 912,928 shares; 2025Q3: 798,351 shares; 2025Q4: 908,351 shares 908,351$1.42M0.33%+110,000Timeline
MLYSMINERALYS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 146,500 shares; 2024Q4: 146,500 shares; 2025Q1: 309,200 shares; 2025Q2: 371,523 shares; 2025Q3: 83,490 shares; 2025Q4: 38,490 shares 38,490$1.4M0.32%-45,000Timeline
ANNXANNEXON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 272,812 shares 272,812$1.37M0.32%newTimeline
ORICORIC PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 242,000 shares; 2025Q2: 135,271 shares; 2025Q3: 104,671 shares; 2025Q4: 141,045 shares 141,045$1.15M0.27%+36,374Timeline
ARAYACCURAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,222,358 shares; 2024Q4: 1,222,358 shares; 2025Q1: 1,222,358 shares; 2025Q2: 1,222,358 shares; 2025Q3: 1,222,358 shares; 2025Q4: 1,395,508 shares 1,395,508$1.15M0.27%+173,150Timeline
ERASERASCA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 340,000 shares; 2025Q2: 350,000 shares; 2025Q3: 350,000 shares; 2025Q4: 254,436 shares 254,436$947K0.22%-95,564Timeline
PYPDPOLYPID LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 308,497 shares; 2024Q4: 291,273 shares; 2025Q1: 291,273 shares; 2025Q2: 207,900 shares; 2025Q3: 207,900 shares; 2025Q4: 207,900 shares 207,900$902K0.21%0Timeline
INSPINSPIRE MED SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 17,200 shares; 2025Q4: 8,600 shares 8,600$793K0.18%-8,600Timeline
ACETADICET BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 93,812 shares 93,812$790K0.18%newTimeline
FHTXFOGHORN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 37,664 shares; 2024Q4: 186,717 shares; 2025Q1: 304,752 shares; 2025Q2: 300,452 shares; 2025Q3: 126,859 shares; 2025Q4: 126,859 shares 126,859$685K0.16%0Timeline
BNTXBIONTECH SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,500 shares; 2024Q4: 8,500 shares; 2025Q1: 10,500 shares; 2025Q2: 7,000 shares; 2025Q3: 7,000 shares; 2025Q4: 7,000 shares 7,000$666K0.15%0Timeline
NGNENEUROGENE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,775 shares; 2024Q4: 51,500 shares; 2025Q1: 51,500 shares; 2025Q2: 51,096 shares; 2025Q3: 30,375 shares; 2025Q4: 27,974 shares 27,974$576K0.13%-2,401Timeline
FATEFATE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 550,000 shares 550,000$540K0.13%newTimeline
OBIOORCHESTRA BIOMED HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 363,636 shares; 2025Q4: 126,841 shares 126,841$526K0.12%-236,795Timeline
BCYCBICYCLE THERAPEUTICS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 122,200 shares; 2024Q4: 120,799 shares; 2025Q1: 80,799 shares; 2025Q2: 64,492 shares; 2025Q3: 64,492 shares; 2025Q4: 64,492 shares 64,492$457K0.11%0Timeline
CGENCOMPUGEN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 447,202 shares; 2024Q4: 447,202 shares; 2025Q1: 272,402 shares; 2025Q2: 272,402 shares; 2025Q3: 272,402 shares; 2025Q4: 272,402 shares 272,402$417K0.1%0Timeline
KPTIKARYOPHARM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 51,000 shares 51,000$375K0.09%newTimeline
RAREULTRAGENYX PHARMACEUTICAL INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 16,000 shares 16,000$368K0.09%newTimeline
AUTLAUTOLUS THERAPEUTICS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 486,667 shares; 2024Q4: 586,667 shares; 2025Q1: 586,667 shares; 2025Q2: 425,616 shares; 2025Q3: 179,316 shares; 2025Q4: 179,316 shares 179,316$357K0.08%0Timeline
ADCTADC THERAPEUTICS SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 204,081 shares; 2024Q4: 224,081 shares; 2025Q1: 224,081 shares; 2025Q2: 122,081 shares; 2025Q3: 122,081 shares; 2025Q4: 77,081 shares 77,081$272K0.06%-45,000Timeline
BWAYBRAINSWAY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 251,346 shares; 2024Q4: 193,208 shares; 2025Q1: 156,533 shares; 2025Q2: 127,151 shares; 2025Q3: 56,966 shares; 2025Q4: 12,965 shares 12,965$247K0.06%-44,001Timeline
CATXPERSPECTIVE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 230,322 shares; 2024Q4: 130,169 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 50,000 shares 50,000$138K0.03%newTimeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
ASCENDIS PHARMA A/SASCENDIS PHARMA A/S Convertible bondprincipal4,000,000$5.46M0

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MERUS N VMERUS N V220,451$20.8Mshares
SLNOSOLENO THERAPEUTICS INC53,000$3.58Mshares
CMPXCOMPASS THERAPEUTICS INC946,661$3.31Mshares
KRROKORRO BIO INC60,804$2.91Mshares
KROSKEROS THERAPEUTICS INC80,716$1.28Mshares
BDTXBLACK DIAMOND THERAPEUTICS I307,070$1.16Mshares
URGNUROGEN PHARMA LTD27,515$549Kshares
SUTRO BIOPHARMA INCSUTRO BIOPHARMA INC437,079$380Kshares
BIOMX INCBIOMX INC401,136$211Kshares
APREAPREA THERAPEUTICS INC137,174$202Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001389933-26-000002 base2026-02-17acceptance time not in the bulk data set