Dafna Capital Management, Llc
- Regulatory AUM
- $645M
- Discretionary
- $645M
- Clients
- 4
- Avg AUM / client
- $161M
- Accounts
- 4
- Employees
- 8
AUM over time
Reported AUM from Form ADV filings, plotted by filing date · as of Mar 30, 2026
Investments (13F portfolio — 83 positions, $439,591,894)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Revolution Medicines Inc | COM | $56,470,936 | 580,678 | 12.8% | 8.75% |
| 2 | Spdr S&P Biotech Etf | ETF | $40,682,644 | 318,505 | 9.25% | 6.31% |
| 3 | Stereotaxis Inc | COM NEW | $25,172,219 | 13,680,554 | 5.73% | 3.9% |
| 4 | Day One Biopharmaceuticals I | COM | $20,978,247 | 978,463 | 4.77% | 3.25% |
| 5 | Atricure Inc | COM | $17,044,706 | 597,431 | 3.88% | 2.64% |
| 6 | Ideaya Biosciences Inc | COM | $15,884,977 | 476,740 | 3.61% | 2.46% |
| 7 | Xenon Pharmaceuticals Inc | COM | $14,582,392 | 250,772 | 3.32% | 2.26% |
| 8 | Cytokinetics Inc | COM NEW | $14,335,227 | 217,497 | 3.26% | 2.22% |
| 9 | Compass Pathways Plc | SPONSORED ADS | $13,376,417 | 2,418,882 | 3.04% | 2.07% |
| 10 | Nektar Therapeutics | COM NEW | $11,884,557 | 165,178 | 2.7% | 1.84% |
| 11 | Ishares Nasdaq Biotech Indx | ETF | $10,484,741 | 62,095 | 2.39% | 1.63% |
| 12 | Arcus Biosciences Inc | COM | $9,586,706 | 443,829 | 2.18% | 1.49% |
| 13 | Neurocrine Biosciences Inc | COM | $9,302,820 | 70,615 | 2.12% | 1.44% |
| 14 | Larimar Therapeutics Inc | COM | $9,131,238 | 2,029,164 | 2.08% | 1.42% |
| 15 | Bicara Therapeutics Inc | COM | $8,388,269 | 421,733 | 1.91% | 1.3% |
| 16 | Axogen Inc | COM | $8,281,175 | 249,960 | 1.88% | 1.28% |
| 17 | Biohaven Ltd | COM | $7,154,918 | 845,735 | 1.63% | 1.11% |
| 18 | Tandem Diabetes Care Inc | COM NEW | $6,809,337 | 355,208 | 1.55% | 1.06% |
| 19 | Denali Therapeutics Inc | COM | $6,115,200 | 318,500 | 1.39% | 0.95% |
| 20 | Ascendis Pharma A/S | NOTE 2.250% 4/0 | $5,916,500 | 4,000,000 | 1.35% | 0.92% |
| 21 | Century Therapeutics Inc | COM | $5,501,638 | 2,434,353 | 1.25% | 0.85% |
| 22 | Dexcom Inc | COM | $5,418,321 | 86,279 | 1.23% | 0.84% |
| 23 | Kalvista Pharmaceuticals Inc | COM | $5,382,802 | 267,402 | 1.22% | 0.83% |
| 24 | Ascendis Pharma A/S | SPONSORED ADR | $5,301,275 | 23,177 | 1.21% | 0.82% |
| 25 | Mbx Biosciences Inc | COM | $5,237,630 | 175,465 | 1.19% | 0.81% |
Top 25 of 83 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 4 | $645M | 100.0% |
Private funds (6)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $1.3B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Dafna Lifescience, L.P. master | Hedge Fund | Delaware | $469M | 3 |
| Dafna Fund, L.P. Series A feeder | Hedge Fund | Delaware | $262M | 77 |
| Dafna International Fund Ltd. Class A feeder | Hedge Fund | Cayman Islands | $203M | 45 |
| Dafna Lifescience Select, L.P. master | Hedge Fund | Delaware | $179M | 3 |
| Dafna Fund, L.P. Series C feeder | Hedge Fund | Delaware | $142M | 21 |
| Dafna International Fund Ltd. Class C feeder | Hedge Fund | Cayman Islands | $36.7M | 11 |
People (3)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Fischel, Nathan | Chief Executive Officer | Apr 1999 (27y) | ≈ 42.19% – 100% via The Fischel Ghodsian Family Trust | |
| Ghodsian, Fariba, Fischel | Chief Investment Officer | Apr 1999 (27y) | ≈ 42.19% – 100% via The Fischel Ghodsian Family Trust | |
| Lin, Xun | Chief Compliance Officer | Nov 2017 (9y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Dafna Holdings, L.P. | Member | Jan 2013 | A | 75% or more |
| The Fischel Ghodsian Family Trust | Limited Partner | Jan 2013 | B | ≈ 56.25% – 100% via Dafna Holdings, L.P. |
| Dlf1 Trust | Limited Partner | Jun 2021 | B | ≈ 18.75% – 50% via Dafna Holdings, L.P. |
| Dcf2 Trust | Limited Partner | Jun 2021 | B | ≈ 18.75% – 50% via Dafna Holdings, L.P. |
| Dsf3 Trust | Limited Partner | Jun 2021 | B | ≈ 18.75% – 50% via Dafna Holdings, L.P. |
| Dafna Holdings Corp. | General Partner | Jan 2013 | B | GP / trustee / elected manager of Dafna Holdings, L.P. (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Fischel, Nathan: 75% – 100% of The Fischel Ghodsian Family Trust × 75% – 100% of Dafna Holdings, L.P. × 75% – 100% direct ≈ 42.19% – 100% of the firm
- Ghodsian, Fariba, Fischel: 75% – 100% of The Fischel Ghodsian Family Trust × 75% – 100% of Dafna Holdings, L.P. × 75% – 100% direct ≈ 42.19% – 100% of the firm
- The Fischel Ghodsian Family Trust: 75% – 100% of Dafna Holdings, L.P. × 75% – 100% direct ≈ 56.25% – 100% of the firm
- Dlf1 Trust: 25% – 50% of Dafna Holdings, L.P. × 75% – 100% direct ≈ 18.75% – 50% of the firm
- Dcf2 Trust: 25% – 50% of Dafna Holdings, L.P. × 75% – 100% direct ≈ 18.75% – 50% of the firm
- Dsf3 Trust: 25% – 50% of Dafna Holdings, L.P. × 75% – 100% direct ≈ 18.75% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (6, $1.3B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Dafna Lifescience, L.P. | Hedge Fund | $469M | $1.0M | 3 |
| Dafna Fund, L.P. Series A | Hedge Fund | $262M | $1.0M | 77 |
| Dafna International Fund Ltd. Class A | Hedge Fund | $203M | $1.0M | 45 |
| Dafna Lifescience Select, L.P. | Hedge Fund | $179M | $1.0M | 3 |
| Dafna Fund, L.P. Series C | Hedge Fund | $142M | $1.0M | 21 |
| Dafna International Fund Ltd. Class C | Hedge Fund | $36.7M | $1.0M | 11 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/30/2026 | 2.28 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports having custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 30, 2026.
View current Form ADV (SEC/IAPD) ↗