DAFNA Capital Management LLC

2. Key Holdings

The portfolio is dominated by high-growth, clinical-stage, and specialized medical technology companies.

• STEREOTAXIS INC (STXS) - 12.68%: This is the firm's largest conviction bet, representing a massive overweight position. With a value of $42.55 million, DAFNA has accumulated 13.68 million shares. This indicates a strong belief in the company’s robotic navigation technology for cardiac procedures.
• SPDR S&P Biotech ETF (XBI) - 11.99%: The second-largest holding is a passive ETF position valued at $40.23 million. This serves as a liquidity buffer and a broad bet on the biotech sector rather than single-stock risk.
• Revolution Medicines Inc (RVMD) - 9.14%: A top-tier oncology holding worth $30.69 million. This position likely represents a core long-term holding in the oncology space.
• Cytokinetics Inc (CYTK) - 6.47%: Despite a reduction of $8.55 million during the quarter, this remains a top-four holding ($21.71 million), suggesting the firm is taking profits or managing risk while maintaining significant exposure.
• Atricure Inc (ATRC) - 6.22%: Represents the portfolio's tilt toward medical devices, specifically cardiac surgical ablation.