DCF Advisers, LLC

CIK 1802493 · View on SEC EDGAR ↗

Portfolio value QoQ: +50.8% 13F does not disclose cash

Top 10 holdings weight65.92%

Top 25 holdings weight81.22%

Positions above 1%17

Effective number of positions8.9

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 21.02% Est. buys $106,191,867 · sells $98,877,305

Median holding: 3.0 quarters Tracked Q1 2025–Q2 2026 · 56.7% still held

New positions15

Increased27

Decreased21

Closed4

Put-notional exposure: 28.7% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets

Portfolio value $565.8M #3,561 of 9,337 by 13F value · top 38.1%

Positions 93

As of June 30, 2026 Data as of Q2 2026

Performance vs S&P 500

Tracked Q4 2025–Q2 2026 +60.3%

S&P 500 total return (same window) +8.7%

Excess return +51.6%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 97.7% · Options excluded: 24.0%

Sector breakdown

Technology 32.6%

Healthcare 16.4%

Communication Services 5.6%

Retail 4.2%

Financials 2.1%

Industrials 1.1%

Energy 1.0%

Materials 0.7%

Consumer Discretionary 0.3%

Consumer Staples 0.1%

Other/Unmapped 35.9%

Full portfolio 93 positions

				Type		Streak
QQQ Invesco QQQ Trust, Series 1	$142,198,840	25.13%	193,100	Put option	$69,474,160	Up ×2
MU Micron Technology, Inc. - Common Stock	$115,429,000	20.40%	100,000		$64,753,000	Down ×3
GOOG Alphabet Inc. - Class C Capital Stock	$19,079,820	3.37%	54,000		$2,728,800	Down ×1
SPY SPY	$18,669,250	3.30%	25,000	Put option	$4,686,940	Up ×1
AMD Advanced Micro Devices, Inc. - Common Stock	$16,846,390	2.98%	29,000		$10,946,920
MU Micron Technology, Inc. - Common Stock	$14,428,625	2.55%	12,500	Call option
AMZN Amazon.com, Inc. - Common Stock	$14,121,645	2.50%	59,250		$6,207,385	Up ×3
ARGX argenx SE - American Depositary Shares	$13,174,334	2.33%	14,200		$2,476,171	Down ×1
CRVS Corvus Pharmaceuticals, Inc. - Common Stock	$9,524,250	1.68%	637,500		$197,625
HELP Cybin Inc. - Common Stock	$9,485,271	1.68%	1,434,988		$6,163,729	Up ×1
TEVA Teva Pharmaceutical Industries Limited American Depositary Shares	$8,622,460	1.52%	254,500		$-413,540	Down ×2
MRVL Marvell Technology, Inc. - Common Stock	$8,191,975	1.45%	27,500		$5,468,100
IAU iShares Gold Trust Shares	$7,551,000	1.33%	100,000		$-1,265,000
BAC Bank of America Corporation Common Stock	$6,809,110	1.20%	119,500		$983,485
REGN Regeneron Pharmaceuticals, Inc. - Common Stock	$5,767,745	1.02%	9,250		$-1,379,175
ET Energy Transfer LP Common Units	$5,745,560	1.02%	300,500		$-54,090
VRTX Vertex Pharmaceuticals Incorporated - Common Stock	$5,712,395	1.01%	11,500		$2,586,615	Up ×2
GLD SPDR Gold Shares	$5,157,320	0.91%	14,000		$-6,160	Up ×1
C Citigroup, Inc. Common Stock	$5,038,560	0.89%	36,000		$955,800
NAMS NewAmsterdam Pharma Company N.V. - Ordinary Shares	$4,778,490	0.84%	141,000		$-362,316	Down ×1
GDX VanEck Gold Miners ETF	$4,715,625	0.83%	62,500		$-1,020,000
INCY Incyte Corporation - Common Stock	$4,704,440	0.83%	41,500		$798,460
CSCO Cisco Systems, Inc. - Common Stock	$4,698,400	0.83%	40,000		$430,950	Down ×1
BIDU Baidu, Inc. - American Depositary Shares, each representing 8 ordinary share	$4,571,600	0.81%	40,000		$3,380	Down ×1
ORCL Oracle Corporation Common Stock	$4,469,775	0.79%	30,500		$277,140	Up ×1
ZM Zoom Communications, Inc. - Class A Common Stock	$4,391,021	0.78%	50,875		$652,886	Up ×3
INTC Intel Corporation - Common Stock	$3,979,455	0.70%	28,500		$2,434,905	Down ×2
IMRX Immuneering Corporation - Class A Common Stock	$3,942,100	0.70%	790,000		$3,196,595	Up ×1
BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share	$3,791,210	0.67%	39,500		$-1,039,000	Up ×2
MSFT Microsoft Corporation - Common Stock	$3,627,620	0.64%	9,725		$3,072,365	Up ×1
UBER Uber Technologies, Inc. Common Stock	$3,608,000	0.64%	50,000		$-348,150	Down ×1
LRCX Lam Research Corporation - Common Stock	$3,249,975	0.57%	7,500			Up ×1
LLY Eli Lilly and Company Common Stock	$3,238,461	0.57%	2,700		$-4,395,630	Down ×1
EVO Evotec SE - American Depositary Shares each representing 1/2 of one ordinary share	$3,021,267	0.53%	1,079,024		$358,082	Up ×1
IONS Ionis Pharmaceuticals, Inc. - Common Stock	$2,973,375	0.53%	37,500		$-1,231,665	Down ×3
AOD abrdn Total Dynamic Dividend Fund Common Shares of Beneficial Interest	$2,742,460	0.48%	266,000		$292,600
ABBV AbbVie Inc. Common Stock	$2,705,130	0.48%	10,750		$367,112
AVGO Broadcom Inc. - Common Stock	$2,691,469	0.48%	7,125		$1,182,608	Up ×2
ZBH Zimmer Biomet Holdings, Inc. Common Stock	$2,625,745	0.46%	30,500		$-132,065
JQC Nuveen Credit Strategies Income Fund Shares of Beneficial Interest	$2,566,629	0.45%	528,113		$246,873	Up ×3
GDXJ VanEck Junior Gold Miners ETF	$2,456,250	0.43%	25,000		$-544,750
MSFT Microsoft Corporation - Common Stock	$2,312,724	0.41%	6,200	Call option	$1,942,554	Up ×1
LFCR Lifecore Biomedical, Inc. - Common Stock	$2,228,625	0.39%	424,500		$649,485
B Barrick Mining Corporation Common Shares	$2,203,800	0.39%	60,000			Up ×1
SLV iShares Silver Trust	$2,138,800	0.38%	40,000		$-586,800
HZO MarineMax, Inc. (FL) Common Stock	$2,105,650	0.37%	57,500			Up ×1
BNED Barnes & Noble Education, Inc Common Stock	$2,064,650	0.36%	164,383		$325,643	Down ×3
BHVN Biohaven Ltd. Common Shares	$2,001,360	0.35%	134,500	Call option	$863,490
BHVN Biohaven Ltd. Common Shares	$1,934,400	0.34%	130,000		$889,590	Up ×1
AMGN Amgen Inc. - Common Stock	$1,901,130	0.34%	5,250		$-209,970	Down ×2
QURE uniQure N.V. - Ordinary Shares	$1,842,400	0.33%	40,000		$1,041,250	Down ×1
URNM Sprott Uranium Miners ETF	$1,840,650	0.33%	35,000		$-369,600
GPCR Structure Therapeutics Inc. - American Depositary Shares	$1,722,807	0.30%	32,100		$397,307	Up ×1
XNCR Xencor, Inc. - Common Stock	$1,670,150	0.30%	103,736		$419,094
AAPL Apple Inc. - Common Stock	$1,663,820	0.29%	5,750		$204,527
ALLT Allot Ltd. - Ordinary Shares	$1,504,500	0.27%	170,000		$462,210	Up ×5
KWEB Krane Shares Trust	$1,345,850	0.24%	55,000			Up ×1
BA Boeing Company (The) Common Stock	$1,298,820	0.23%	6,000			Up ×1
QCOM QUALCOMM Incorporated - Common Stock	$1,293,530	0.23%	7,000		$-26,465	Down ×1
ZLAB Zai Lab Limited - American Depositary Shares	$1,206,500	0.21%	63,500		$12,065
ARQ Arq, Inc. - Common Stock	$1,177,042	0.21%	461,585		$337,866	Up ×2
LYFT Lyft, Inc. - Class A Common Stock	$1,139,580	0.20%	78,000		$-223,670	Down ×2
META Meta Platforms, Inc. - Class A Common Stock	$1,126,580	0.20%	2,000		$-17,680
SBUX Starbucks Corporation - Common Stock	$1,021,900	0.18%	10,000	Call option	$126,000
IWM iShares Russell 2000 Index Fund	$901,350	0.16%	3,000		$157,350
AZN AstraZeneca PLC - American Depositary Shares	$900,695	0.16%	4,750			Up ×1
STEW SRH Total Return Fund, Inc. Common Stock	$895,000	0.16%	50,000		$40,000
PINS Pinterest, Inc. Class A Common Stock	$841,200	0.15%	40,000		$382,700	Up ×1
GM General Motors Company Common Stock	$770,800	0.14%	10,000		$-160,450	Down ×1
CMPS COMPASS Pathways Plc - American Depository Shares	$767,638	0.14%	54,250		$532,613	Up ×1
PRTA Prothena Corporation plc - Ordinary Shares	$717,088	0.13%	73,247		$5,127
ZBIO Zenas BioPharma, Inc. - Common Stock	$715,310	0.13%	28,184			Up ×1
AMZN Amazon.com, Inc. - Common Stock	$715,020	0.13%	3,000	Put option		Up ×1
GOOGL Alphabet Inc. - Class A Common Stock	$714,740	0.13%	2,000	Put option	$-4,748,900	Down ×1
VRDN Viridian Therapeutics, Inc. - Common Stock	$698,060	0.12%	38,000		$69,206	Up ×1
LNSR LENSAR, Inc. - Common Stock	$675,019	0.12%	118,217		$-29,554
TPB Turning Point Brands, Inc. Common Stock	$636,075	0.11%	7,500		$28,545	Up ×1
SVRA Savara, Inc. - Common Stock	$616,000	0.11%	100,000			Up ×1
ANAB AnaptysBio, Inc. - Common Stock	$615,195	0.11%	9,114		$-426,067	Down ×3
OI O-I Glass, Inc. Common Stock	$577,800	0.10%	60,000		$-52,800
HD Home Depot, Inc. (The) Common Stock	$529,020	0.09%	1,500
SPOT Spotify Technology S.A. Ordinary Shares	$528,000	0.09%	1,150		$-78,138	Down ×1
IFRX InflaRx N.V. - Common Stock	$511,840	0.09%	228,500		$370,078	Up ×1
AMZN Amazon.com, Inc. - Common Stock	$476,680	0.08%	2,000	Call option	$-43,995	Down ×1
SNY Sanofi - American Depositary Shares	$426,600	0.08%	10,000	Call option	$161,610	Up ×1
NOW ServiceNow, Inc. Common Stock	$372,300	0.07%	3,750			Up ×1
TDOC Teladoc Health, Inc. Common Stock	$360,400	0.06%	42,500
IBIT iShares Bitcoin Trust ETF	$316,255	0.06%	9,500	Call option	$28,105	Up ×1
MDT Medtronic plc. Ordinary Shares	$234,690	0.04%	3,000			Up ×1
ZM Zoom Communications, Inc. - Class A Common Stock	$129,465	0.02%	1,500	Call option
ALT Altimmune, Inc. - Common Stock	$112,480	0.02%	37,000	Call option	$-1,480
ARDX Ardelyx, Inc. - Common Stock	$112,200	0.02%	22,000		$-7,600	Up ×1
ALT Altimmune, Inc. - Common Stock	$44,688	0.01%	14,700		$-588
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
AMZN	$14,121,645	2.50%	up ×3
ZM	$4,391,021	0.78%	up ×3
JQC	$2,566,629	0.45%	up ×3
ALLT	$1,504,500	0.27%	up ×5

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
MU	$14,428,625	12,500	2.55%
LRCX	$3,249,975	7,500	0.57%
B	$2,203,800	60,000	0.39%
HZO	$2,105,650	57,500	0.37%
KWEB	$1,345,850	55,000	0.24%
BA	$1,298,820	6,000	0.23%
AZN	$900,695	4,750	0.16%
ZBIO	$715,310	28,184	0.13%
AMZN	$715,020	3,000	0.13%
SVRA	$616,000	100,000	0.11%
HD	$529,020	1,500	0.09%
NOW	$372,300	3,750	0.07%
TDOC	$360,400	42,500	0.06%
MDT	$234,690	3,000	0.04%
ZM	$129,465	1,500	0.02%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
QQQ	Bought more	+67K	+$69.5M
MU	Trimmed	-50K	+$64.8M
AMD	Price move only	+0	+$10.9M
AMZN	Bought more	+21K	+$6.2M
HELP	Bought more	+743K	+$6.2M
MRVL	Price move only	+0	+$5.5M
SPY	Bought more	+4K	+$4.7M
LLY	Trimmed	-6K	-$4.4M
GOOG	Trimmed	-3K	+$2.7M
VRTX	Bought more	+4K	+$2.6M

3 positions hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
VOO	June 30, 2025	35,000	$17,986,850	25.4%
SMH	June 30, 2026	32,000	$12,268,800	-3.4%
UBER	Sept. 30, 2025	62,500	$5,831,250	-29.1%
ET	Sept. 30, 2025	300,500	$5,448,065	No longer tracked
BABA	Sept. 30, 2025	39,150	$4,440,002	-38.0%
AZN	Sept. 30, 2025	45,800	$3,200,504	2.0%
CRVS	Sept. 30, 2025	760,000	$3,040,000	45.7%
SOXX	March 31, 2026	10,000	$3,011,500	79.4%
HD	March 31, 2026	8,500	$2,924,850	-14.5%
GOLD	June 30, 2026	60,000	$2,447,400	0.1%
HELP	Sept. 30, 2025	202,750	$1,701,073	93.9%
LRCX (filed as LRCXXXXX)	June 30, 2026	7,500	$1,602,450	-20.2%
GOLD	Sept. 30, 2025	60,000	$1,249,200	61.0%
GM	Sept. 30, 2025	25,000	$1,230,250	31.6%
PFE	March 31, 2026	47,000	$1,170,300	-2.4%
BOXX	Dec. 31, 2025	10,000	$1,138,600
TDOC	March 31, 2026	137,500	$962,500	6.2%
BP	Dec. 31, 2025	25,000	$861,500	28.5%
SNPS	June 30, 2026	1,750	$693,840	9.5%
DOCU	March 31, 2026	9,500	$649,800	47.7%
ARQ	Sept. 30, 2025	108,494	$582,613	-71.8%
ALT	Sept. 30, 2025	136,770	$529,300	-29.2%
GPCR	Sept. 30, 2025	24,750	$513,315	-1.5%
ITCI	June 30, 2025	3,500	$461,720	No longer tracked
BIIB	March 31, 2026	2,500	$439,975	22.0%
BUR	Sept. 30, 2025	28,000	$399,280	-70.3%
CTLP	March 31, 2026	33,500	$355,770	No longer tracked
PYPL	March 31, 2026	5,000	$291,900	20.3%
MEOH	March 31, 2026	5,500	$218,460	1.9%
PANW	Sept. 30, 2025	1,050	$214,872	99.8%
XLE	Sept. 30, 2025	2,500	$212,025	42.0%
BUR	March 31, 2026	19,500	$173,940	-21.5%
NN	Dec. 31, 2025	11,450	$163,735	-20.0%
WOLF	June 30, 2025	27,500	$84,150
EQ	June 30, 2025	39,492	$15,493	353.1%