Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ASND	ASCENDIS PHARMA A/S	1,163,721	$310M	4.7%	—	—	ORD SHS	K08588103
KARD	KARDIGAN INC	8,200,662	$196M	2.9%	—	—	COM	485925101
AVLN	AVALYN PHARMACEUTICALS INC	2,675,296	$88.07M	1.3%	—	—	COM SHS	05348Y105
BIIB	BIOGEN INC	276,173	$59.67M	0.9%	—	—	COM	09062X103
UNH	UNITEDHEALTH GROUP INC	116,806	$48.55M	0.7%	—	—	COM	91324P102
XBI	SPDR SERIES TRUST	300,000	$47.48M	0.7%	—	—	PUT	78464A870
CRL	CHARLES RIV LABS INTL INC	140,000	$31.75M	0.5%	—	—	COM	159864107
EYPT	EYEPOINT INC	2,000,000	$28.6M	0.4%	—	—	PUT	30233G209
DHR	DANAHER CORP DEL	130,000	$24.76M	0.4%	—	—	COM	235851102
CAPR	CAPRICOR THERAPEUTICS INC	1,000,000	$24.08M	0.4%	—	—	CALL	14070B309
SLS	SELLAS LIFE SCIENCES GROUP I	1,500,000	$22.14M	0.3%	—	—	PUT	81642T209
ANL	ADLAI NORTYE LTD	1,793,190	$20.62M	0.3%	—	—	SPONSORED ADS	00704R109
NVCT	NUVECTIS PHARMA INC	1,000,000	$18.39M	0.3%	—	—	COM	67080T108
NAMS	NEWAMSTERDAM PHARMA COMPANY	500,000	$16.95M	0.3%	—	—	PUT	N62509109
MIRM	MIRUM PHARMACEUTICALS INC	115,391	$13.51M	0.2%	—	—	COM	604749101
CAPR	CAPRICOR THERAPEUTICS INC	500,000	$12.04M	0.2%	—	—	PUT	14070B309
OSCR	OSCAR HEALTH INC	400,000	$11.41M	0.2%	—	—	CL A	687793109
SPTX	SEAPORT THERAPEUTICS INC	500,000	$10.86M	0.2%	—	—	COMMON STOCK	81221K108
BSX	BOSTON SCIENTIFIC CORP	250,000	$10.67M	0.2%	—	—	COM	101137107
NTRA	NATERA INC	34,689	$9.416M	0.1%	—	—	COM	632307104
ENGN	ENGENE THERAPEUTICS INC	4,822,169	$8.342M	0.1%	—	—	COM	29286X101
RACC	RESEARCH ALLIANCE CORP III	750,000	$8.025M	0.1%	—	—	ORD SHS CL A	G75226103
CGEM	CULLINAN THERAPEUTICS INC	426,478	$7.766M	0.1%	—	—	COM	230031106
QURE	UNIQURE NV	168,000	$7.738M	0.1%	—	—	SHS	N90064101
MOBI	MOBIA MED INC	523,654	$7.017M	0.1%	—	—	COMMON STOCK	60705V103
OTLK	OUTLOOK THERAPEUTICS INC	3,139,216	$4.991M	0.1%	—	—	COM	69012T305
XERS	XERIS BIOPHARMA HOLDINGS INC	467,013	$3.699M	0.1%	—	—	COM	98422E103
BDSX	BIODESIX INC	108,694	$2.451M	0.0%	—	—	COM	09075X207
KPRX	KIORA PHARMACEUTICALS INC	438,471	$1.153M	0.0%	—	—	COM	49721T507

Increased Positions (28)

SYRE SPYRE THERAPEUTICS INC 5.8%

Value $383M (+101.0%) Shares 4,319,496 (+14.2%) Est. Cost — Unrealized —

RLAY RELAY THERAPEUTICS INC 4.0%

Value $264M (+172.0%) Shares 14,106,187 (+44.7%) Est. Cost — Unrealized —

TNGX TANGO THERAPEUTICS INC 1.6%

Value $106M (+524.4%) Shares 3,377,000 (+317.9%) Est. Cost — Unrealized —

RYTM RHYTHM PHARMACEUTICALS INC 4.3%

Value $287M (+39.1%) Shares 2,586,295 (+9.0%) Est. Cost — Unrealized —

RVMD REVOLUTION MEDICINES INC 1.5%

Value $98.81M (+292.9%) Shares 527,600 (+104.0%) Est. Cost — Unrealized —

MGTX MEIRAGTX HLDGS PLC 2.2%

Value $146M (+63.2%) Shares 10,786,658 (+4.5%) Est. Cost — Unrealized —

NRIX NURIX THERAPEUTICS INC 1.6%

Value $105M (+82.2%) Shares 4,320,422 (+16.4%) Est. Cost — Unrealized —

CORT CORCEPT THERAPEUTICS INC 0.5%

Value $34.64M (+1618.7%) Shares 398,385 (+696.8%) Est. Cost — Unrealized —

BCRX BIOCRYST PHARMACEUTICALS INC 1.5%

Value $103M (+45.7%) Shares 10,308,888 (+38.7%) Est. Cost — Unrealized —

STRO SUTRO BIOPHARMA INC 0.7%

Value $43.32M (+143.1%) Shares 1,304,846 (+82.4%) Est. Cost — Unrealized —

ADPT ADAPTIVE BIOTECHNOLOGIES COR 0.4%

Value $26.11M (+1133.6%) Shares 1,217,325 (+698.2%) Est. Cost — Unrealized —

CELC CELCUITY INC 5.0%

Value $334M (-6.3%) Shares 3,197,200 (+2.2%) Est. Cost — Unrealized —

ZYME ZYMEWORKS INC 1.6%

Value $109M (+24.4%) Shares 4,182,953 (+19.2%) Est. Cost — Unrealized —

AORT ARTIVION INC 0.6%

Value $39.04M (-34.9%) Shares 1,737,290 (+6.1%) Est. Cost — Unrealized —

IRTC IRHYTHM HOLDINGS INC 0.4%

Value $26.62M (+114.7%) Shares 223,766 (+113.1%) Est. Cost — Unrealized —

SION SIONNA THERAPEUTICS INC 0.6%

Value $39.81M (+50.8%) Shares 905,000 (+37.4%) Est. Cost — Unrealized —

EOLS EVOLUS INC 0.3%

Value $17.07M (+222.7%) Shares 2,459,285 (+91.1%) Est. Cost — Unrealized —

RAPP RAPPORT THERAPEUTICS INC 0.5%

Value $32.23M (+52.8%) Shares 773,342 (+14.8%) Est. Cost — Unrealized —

XFOR X4 PHARMACEUTICALS INC 0.6%

Value $37.05M (+33.1%) Shares 7,933,491 (+17.7%) Est. Cost — Unrealized —

CTMX CYTOMX THERAPEUTICS INC. 0.6%

Value $39.15M (-17.5%) Shares 10,439,185 (+3.4%) Est. Cost — Unrealized —

IONS IONIS PHARMACEUTICALS INC 0.7%

Value $44.88M (+18.6%) Shares 566,000 (+12.3%) Est. Cost — Unrealized —

DBVT DBV TECHNOLOGIES S A 0.4%

Value $27.11M (+34.6%) Shares 1,653,350 (+71.4%) Est. Cost — Unrealized —

SRZN SURROZEN INC 0.2%

Value $13.08M (+95.7%) Shares 503,985 (+119.7%) Est. Cost — Unrealized —

CRVS CORVUS PHARMACEUTICALS INC 0.6%

Value $39.85M (+18.8%) Shares 2,667,441 (+16.4%) Est. Cost — Unrealized —

AVTX AVALO THERAPEUTICS INC 0.1%

Value $4.062M (+94.8%) Shares 219,813 (+57.4%) Est. Cost — Unrealized —

OCS OCULIS HOLDING AG 0.2%

Value $11.22M (-14.6%) Shares 808,827 (+63.8%) Est. Cost — Unrealized —

TENX TENAX THERAPEUTICS INC 0.4%

Value $24.73M (+6.8%) Shares 1,700,000 (+17.4%) Est. Cost — Unrealized —

SABS SAB BIOTHERAPEUTICS INC 0.4%

Value $25.85M (+4.9%) Shares 6,627,501 (+3.0%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SYRE	SPYRE THERAPEUTICS INC	4,319,496 (+14.2%)	$383M (+101.0%)	5.8%	—	—	COM NEW	00773J202
RLAY	RELAY THERAPEUTICS INC	14,106,187 (+44.7%)	$264M (+172.0%)	4.0%	—	—	COM	75943R102
TNGX	TANGO THERAPEUTICS INC	3,377,000 (+317.9%)	$106M (+524.4%)	1.6%	—	—	COM	87583X109
RYTM	RHYTHM PHARMACEUTICALS INC	2,586,295 (+9.0%)	$287M (+39.1%)	4.3%	—	—	COM	76243J105
RVMD	REVOLUTION MEDICINES INC	527,600 (+104.0%)	$98.81M (+292.9%)	1.5%	—	—	COM	76155X100
MGTX	MEIRAGTX HLDGS PLC	10,786,658 (+4.5%)	$146M (+63.2%)	2.2%	—	—	COM	G59665102
NRIX	NURIX THERAPEUTICS INC	4,320,422 (+16.4%)	$105M (+82.2%)	1.6%	—	—	COM	67080M103
CORT	CORCEPT THERAPEUTICS INC	398,385 (+696.8%)	$34.64M (+1618.7%)	0.5%	—	—	COM	218352102
BCRX	BIOCRYST PHARMACEUTICALS INC	10,308,888 (+38.7%)	$103M (+45.7%)	1.5%	—	—	COM	09058V103
STRO	SUTRO BIOPHARMA INC	1,304,846 (+82.4%)	$43.32M (+143.1%)	0.7%	—	—	COM SHS	869367201
ADPT	ADAPTIVE BIOTECHNOLOGIES COR	1,217,325 (+698.2%)	$26.11M (+1133.6%)	0.4%	—	—	COM	00650F109
CELC	CELCUITY INC	3,197,200 (+2.2%)	$334M (-6.3%)	5.0%	—	—	COM	15102K100
ZYME	ZYMEWORKS INC	4,182,953 (+19.2%)	$109M (+24.4%)	1.6%	—	—	COM	98985Y108
AORT	ARTIVION INC	1,737,290 (+6.1%)	$39.04M (-34.9%)	0.6%	—	—	COM	228903100
IRTC	IRHYTHM HOLDINGS INC	223,766 (+113.1%)	$26.62M (+114.7%)	0.4%	—	—	COM	450056106
SION	SIONNA THERAPEUTICS INC	905,000 (+37.4%)	$39.81M (+50.8%)	0.6%	—	—	COM	829401108
EOLS	EVOLUS INC	2,459,285 (+91.1%)	$17.07M (+222.7%)	0.3%	—	—	COM	30052C107
RAPP	RAPPORT THERAPEUTICS INC	773,342 (+14.8%)	$32.23M (+52.8%)	0.5%	—	—	COM	75383L102
XFOR	X4 PHARMACEUTICALS INC	7,933,491 (+17.7%)	$37.05M (+33.1%)	0.6%	—	—	COM NEW	98420X202
CTMX	CYTOMX THERAPEUTICS INC.	10,439,185 (+3.4%)	$39.15M (-17.5%)	0.6%	—	—	COM	23284F105
IONS	IONIS PHARMACEUTICALS INC	566,000 (+12.3%)	$44.88M (+18.6%)	0.7%	—	—	COM	462222100
DBVT	DBV TECHNOLOGIES S A	1,653,350 (+71.4%)	$27.11M (+34.6%)	0.4%	—	—	SPONSORED ADS	23306J309
SRZN	SURROZEN INC	503,985 (+119.7%)	$13.08M (+95.7%)	0.2%	—	—	COM NEW	86889P208
CRVS	CORVUS PHARMACEUTICALS INC	2,667,441 (+16.4%)	$39.85M (+18.8%)	0.6%	—	—	COM	221015100
AVTX	AVALO THERAPEUTICS INC	219,813 (+57.4%)	$4.062M (+94.8%)	0.1%	—	—	COM NEW	05338F306
OCS	OCULIS HOLDING AG	808,827 (+63.8%)	$11.22M (-14.6%)	0.2%	—	—	ORDINARY SHARES	H5870P102
TENX	TENAX THERAPEUTICS INC	1,700,000 (+17.4%)	$24.73M (+6.8%)	0.4%	—	—	COM NEW	88032L605
SABS	SAB BIOTHERAPEUTICS INC	6,627,501 (+3.0%)	$25.85M (+4.9%)	0.4%	—	—	COM NEW	78397T202

Exited Positions (14)

ASND ASCENDIS PHARMA A/S 5.3%

Value $350M Shares 1,531,421 Est. Cost — Unrealized —

CNTA CENTESSA PHARMACEUTICALS PLC 3.1%

Value $209M Shares 5,258,903 Est. Cost — Unrealized —

ENGN ENGENE HOLDINGS INC 0.6%

Value $39.69M Shares 5,827,506 Est. Cost — Unrealized —

DAWN DAY ONE BIOPHARMACEUTICALS I 0.6%

Value $37.64M Shares 1,755,799 Est. Cost — Unrealized —

DRUG BRIGHT MINDS BIOSCIENCES INC 0.4%

Value $27.55M Shares 377,544 Est. Cost — Unrealized —

BLTE BELITE BIO INC 0.4%

Value $24.23M Shares 151,979 Est. Cost — Unrealized —

EVMN EVOMMUNE INC 0.2%

Value $10.31M Shares 448,350 Est. Cost — Unrealized —

NMRA NEUMORA THERAPEUTICS INC. 0.1%

Value $9.953M Shares 5,104,097 Est. Cost — Unrealized —

NBIX NEUROCRINE BIOSCIENCES INC 0.1%

Value $8.57M Shares 65,050 Est. Cost — Unrealized —

IRD OPUS GENETICS INC 0.1%

Value $8.353M Shares 1,835,842 Est. Cost — Unrealized —

OCUL OCULAR THERAPEUTIX INC 0.1%

Value $4.235M Shares 500,000 Est. Cost — Unrealized —

IKT INHIBIKASE THERAPEUTICS INC 0.1%

Value $3.889M Shares 2,315,000 Est. Cost — Unrealized —

APLS APELLIS PHARMACEUTICALS INC 0.0%

Value $3.257M Shares 80,956 Est. Cost — Unrealized —

PTN PALATIN TECHNOLOGIES INC 0.0%

Value $1.079M Shares 61,945 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ASND	ASCENDIS PHARMA A/S	1,531,421	$350M	5.3%	—	—	—	04351P101
CNTA	CENTESSA PHARMACEUTICALS PLC	5,258,903	$209M	3.1%	—	—	—	152309100
ENGN	ENGENE HOLDINGS INC	5,827,506	$39.69M	0.6%	—	—	—	29286M105
DAWN	DAY ONE BIOPHARMACEUTICALS I	1,755,799	$37.64M	0.6%	—	—	—	23954D109
DRUG	BRIGHT MINDS BIOSCIENCES INC	377,544	$27.55M	0.4%	—	—	—	10919W405
BLTE	BELITE BIO INC	151,979	$24.23M	0.4%	—	—	—	07782B104
EVMN	EVOMMUNE INC	448,350	$10.31M	0.2%	—	—	—	30054Y107
NMRA	NEUMORA THERAPEUTICS INC.	5,104,097	$9.953M	0.1%	—	—	—	640979100
NBIX	NEUROCRINE BIOSCIENCES INC	65,050	$8.57M	0.1%	—	—	—	64125C109
IRD	OPUS GENETICS INC	1,835,842	$8.353M	0.1%	—	—	—	67577R102
OCUL	OCULAR THERAPEUTIX INC	500,000	$4.235M	0.1%	—	—	CALL	67576A100
IKT	INHIBIKASE THERAPEUTICS INC	2,315,000	$3.889M	0.1%	—	—	—	45719W205
APLS	APELLIS PHARMACEUTICALS INC	80,956	$3.257M	0.0%	—	—	—	03753U106
PTN	PALATIN TECHNOLOGIES INC	61,945	$1.079M	0.0%	—	—	—	696077601

Decreased Positions (26)

TVTX TRAVERE THERAPEUTICS INC 3.2%

Value $213M (+73.2%) Shares 3,752,574 (-9.4%) Est. Cost — Unrealized —

ORKA ORUKA THERAPEUTICS INC 1.9%

Value $128M (+87.0%) Shares 1,345,063 (-3.6%) Est. Cost — Unrealized —

ROIV ROIVANT SCIENCES LTD 4.3%

Value $286M (+24.7%) Shares 8,085,461 (-2.4%) Est. Cost — Unrealized —

APGE APOGEE THERAPEUTICS INC 2.6%

Value $174M (+33.9%) Shares 1,308,113 (-15.1%) Est. Cost — Unrealized —

EWTX EDGEWISE THERAPEUTICS INC 2.7%

Value $178M (+27.5%) Shares 4,373,974 (-1.1%) Est. Cost — Unrealized —

NAUT NAUTILUS BIOTECHNOLOGY INC 0.3%

Value $21.76M (-55.5%) Shares 11,634,211 (-7.6%) Est. Cost — Unrealized —

ABVX ABIVAX SA 0.1%

Value $9.861M (-73.1%) Shares 74,000 (-77.5%) Est. Cost — Unrealized —

INBX INHIBRX BIOSCIENCES INC 1.8%

Value $123M (+26.8%) Shares 1,297,763 (-10.0%) Est. Cost — Unrealized —

DYN DYNE THERAPEUTICS INC 0.9%

Value $59.73M (-29.4%) Shares 2,689,235 (-42.4%) Est. Cost — Unrealized —

GH GUARDANT HEALTH INC 0.1%

Value $6.2M (-77.6%) Shares 41,327 (-86.2%) Est. Cost — Unrealized —

ISRG INTUITIVE SURGICAL INC 0.3%

Value $20.63M (-47.6%) Shares 51,884 (-39.3%) Est. Cost — Unrealized —

IMVT IMMUNOVANT INC 0.8%

Value $52.3M (+31.8%) Shares 1,357,383 (-15.0%) Est. Cost — Unrealized —

VRDN VIRIDIAN THERAPEUTICS INC 0.2%

Value $10.69M (-53.3%) Shares 581,980 (-50.3%) Est. Cost — Unrealized —

AXGN AXOGEN INC 0.2%

Value $11.42M (-50.6%) Shares 247,312 (-64.5%) Est. Cost — Unrealized —

IVVD INVIVYD INC 0.2%

Value $16.13M (-40.5%) Shares 18,490,636 (-11.4%) Est. Cost — Unrealized —

PTGX PROTAGONIST THERAPEUTICS INC 1.8%

Value $120M (-7.2%) Shares 981,879 (-20.2%) Est. Cost — Unrealized —

BBNX BETA BIONICS INC 0.2%

Value $13.05M (+54.5%) Shares 832,944 (-1.2%) Est. Cost — Unrealized —

PHAT PHATHOM PHARMACEUTICALS INC 0.1%

Value $5.772M (-43.8%) Shares 532,000 (-42.5%) Est. Cost — Unrealized —

AXSM AXSOME THERAPEUTICS INC. 0.4%

Value $28.99M (+14.4%) Shares 118,450 (-21.0%) Est. Cost — Unrealized —

TWST TWIST BIOSCIENCE CORP 0.1%

Value $3.787M (-46.9%) Shares 36,812 (-75.5%) Est. Cost — Unrealized —

ADMA ADMA BIOLOGICS INC 0.0%

Value $952K (-77.4%) Shares 113,765 (-75.7%) Est. Cost — Unrealized —

BLLN BILLIONTOONE INC 0.2%

Value $10.42M (+43.7%) Shares 86,812 (-5.4%) Est. Cost — Unrealized —

ANRO ALTO NEUROSCIENCE INC 0.6%

Value $42.49M (-6.0%) Shares 1,609,893 (-19.9%) Est. Cost — Unrealized —

PALI PALISADE BIO INC 0.3%

Value $17.61M (+12.7%) Shares 8,425,065 (-5.6%) Est. Cost — Unrealized —

RGEN REPLIGEN CORP 0.5%

Value $33.87M (+2.5%) Shares 248,212 (-11.5%) Est. Cost — Unrealized —

CPIX CUMBERLAND PHARMACEUTICALS I 0.0%

Value $628K (-1.8%) Shares 96,982 (-50.8%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TVTX	TRAVERE THERAPEUTICS INC	3,752,574 (-9.4%)	$213M (+73.2%)	3.2%	—	—	COM	89422G107
ORKA	ORUKA THERAPEUTICS INC	1,345,063 (-3.6%)	$128M (+87.0%)	1.9%	—	—	COM	687604108
ROIV	ROIVANT SCIENCES LTD	8,085,461 (-2.4%)	$286M (+24.7%)	4.3%	—	—	SHS	G76279101
APGE	APOGEE THERAPEUTICS INC	1,308,113 (-15.1%)	$174M (+33.9%)	2.6%	—	—	COM	03770N101
EWTX	EDGEWISE THERAPEUTICS INC	4,373,974 (-1.1%)	$178M (+27.5%)	2.7%	—	—	COM	28036F105
NAUT	NAUTILUS BIOTECHNOLOGY INC	11,634,211 (-7.6%)	$21.76M (-55.5%)	0.3%	—	—	COM	63909J108
ABVX	ABIVAX SA	74,000 (-77.5%)	$9.861M (-73.1%)	0.1%	—	—	SPONSORED ADS	00370M103
INBX	INHIBRX BIOSCIENCES INC	1,297,763 (-10.0%)	$123M (+26.8%)	1.8%	—	—	COM	45720N103
DYN	DYNE THERAPEUTICS INC	2,689,235 (-42.4%)	$59.73M (-29.4%)	0.9%	—	—	COM	26818M108
GH	GUARDANT HEALTH INC	41,327 (-86.2%)	$6.2M (-77.6%)	0.1%	—	—	COM	40131M109
ISRG	INTUITIVE SURGICAL INC	51,884 (-39.3%)	$20.63M (-47.6%)	0.3%	—	—	COM NEW	46120E602
IMVT	IMMUNOVANT INC	1,357,383 (-15.0%)	$52.3M (+31.8%)	0.8%	—	—	COM	45258J102
VRDN	VIRIDIAN THERAPEUTICS INC	581,980 (-50.3%)	$10.69M (-53.3%)	0.2%	—	—	COM	92790C104
AXGN	AXOGEN INC	247,312 (-64.5%)	$11.42M (-50.6%)	0.2%	—	—	COM	05463X106
IVVD	INVIVYD INC	18,490,636 (-11.4%)	$16.13M (-40.5%)	0.2%	—	—	COM	00534A102
PTGX	PROTAGONIST THERAPEUTICS INC	981,879 (-20.2%)	$120M (-7.2%)	1.8%	—	—	COM	74366E102
BBNX	BETA BIONICS INC	832,944 (-1.2%)	$13.05M (+54.5%)	0.2%	—	—	COM	08659B102
PHAT	PHATHOM PHARMACEUTICALS INC	532,000 (-42.5%)	$5.772M (-43.8%)	0.1%	—	—	COM	71722W107
AXSM	AXSOME THERAPEUTICS INC.	118,450 (-21.0%)	$28.99M (+14.4%)	0.4%	—	—	COM	05464T104
TWST	TWIST BIOSCIENCE CORP	36,812 (-75.5%)	$3.787M (-46.9%)	0.1%	—	—	COM	90184D100
ADMA	ADMA BIOLOGICS INC	113,765 (-75.7%)	$952K (-77.4%)	0.0%	—	—	COM	000899104
BLLN	BILLIONTOONE INC	86,812 (-5.4%)	$10.42M (+43.7%)	0.2%	—	—	CL A	090168105
ANRO	ALTO NEUROSCIENCE INC	1,609,893 (-19.9%)	$42.49M (-6.0%)	0.6%	—	—	COM SHS	02157Q109
PALI	PALISADE BIO INC	8,425,065 (-5.6%)	$17.61M (+12.7%)	0.3%	—	—	COM	696389402
RGEN	REPLIGEN CORP	248,212 (-11.5%)	$33.87M (+2.5%)	0.5%	—	—	COM	759916109
CPIX	CUMBERLAND PHARMACEUTICALS I	96,982 (-50.8%)	$628K (-1.8%)	0.0%	—	—	COM	230770109

Unchanged Positions (26)

AMLX AMYLYX PHARMACEUTICALS INC 2.2%

Value $150M Shares 8,334,882 Est. Cost — Unrealized —

NUVL NUVALENT INC 2.9%

Value $195M Shares 1,580,505 Est. Cost — Unrealized —

SLDB SOLID BIOSCIENCES INC 1.8%

Value $119M Shares 11,906,646 Est. Cost — Unrealized —

PRAX PRAXIS PRECISION MEDICINES I 10.2%

Value $682M Shares 2,035,986 Est. Cost — Unrealized —

MRNA MODERNA INC 1.1%

Value $70.03M Shares 1,000,000 Est. Cost — Unrealized —

AVR ANTERIS TECHNOLOGIES GLOBAL 0.5%

Value $33.74M Shares 3,425,476 Est. Cost — Unrealized —

JAZZ JAZZ PHARMACEUTICALS PLC 0.6%

Value $40.96M Shares 170,000 Est. Cost — Unrealized —

OMDA OMADA HEALTH INC 0.3%

Value $17.26M Shares 786,330 Est. Cost — Unrealized —

ADGM ADAGIO MED HLDGS INC 0.1%

Value $6.44M Shares 9,876,586 Est. Cost — Unrealized —

CTNM CONTINEUM THERAPEUTICS INC 0.3%

Value $20.58M Shares 1,255,592 Est. Cost — Unrealized —

IMTX IMMATICS N.V 1.6%

Value $105M Shares 10,383,456 Est. Cost — Unrealized —

LONA LEONABIO INC 0.3%

Value $17.09M Shares 1,859,322 Est. Cost — Unrealized —

RVMDW REVOLUTION MEDICINES INC 0.0%

Value $2.345M Shares 250,000 Est. Cost — Unrealized —

EDSA EDESA BIOTECH INC 0.1%

Value $4.579M Shares 563,239 Est. Cost — Unrealized —

AGMB AGOMAB THERAPEUTICS NV 0.1%

Value $7.788M Shares 600,000 Est. Cost — Unrealized —

— CELCUITY INC 0.2%

Value $14.63M Shares 6,500,000 Est. Cost — Unrealized —

OM OUTSET MED INC 0.1%

Value $3.6M Shares 833,333 Est. Cost — Unrealized —

OBIO ORCHESTRA BIOMED HLDGS INC 0.3%

Value $21.74M Shares 5,037,906 Est. Cost — Unrealized —

CNTB CONNECT BIOPHARMA HLDGS LTD 0.0%

Value $1.887M Shares 792,696 Est. Cost — Unrealized —

XGN EXAGEN INC 0.0%

Value $534K Shares 114,893 Est. Cost — Unrealized —

MDLN MEDLINE INC 0.0%

Value $1.104M Shares 28,000 Est. Cost — Unrealized —

GLTO DAMORA THERAPEUTICS INC 0.5%

Value $31.81M Shares 1,223,000 Est. Cost — Unrealized —

CBIO CRESCENT BIOPHARMA INC. 0.1%

Value $3.725M Shares 206,942 Est. Cost — Unrealized —

COGT COGENT BIOSCIENCES INC 0.1%

Value $4.686M Shares 121,082 Est. Cost — Unrealized —

ENSC ENSYSCE BIOSCIENCES INC 0.0%

Value $25,133 Shares 86,666 Est. Cost — Unrealized —

SRZNW SURROZEN INC 0.0%

Value $2,750 Shares 166,666 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMLX	AMYLYX PHARMACEUTICALS INC	8,334,882	$150M	2.2%	—	—	COM	03237H101
NUVL	NUVALENT INC	1,580,505	$195M	2.9%	—	—	COM	670703107
SLDB	SOLID BIOSCIENCES INC	11,906,646	$119M	1.8%	—	—	COM NEW	83422E204
PRAX	PRAXIS PRECISION MEDICINES I	2,035,986	$682M	10.2%	—	—	COM NEW	74006W207
MRNA	MODERNA INC	1,000,000	$70.03M	1.1%	—	—	PUT	60770K107
AVR	ANTERIS TECHNOLOGIES GLOBAL	3,425,476	$33.74M	0.5%	—	—	COM	03675P102
JAZZ	JAZZ PHARMACEUTICALS PLC	170,000	$40.96M	0.6%	—	—	SHS USD	G50871105
OMDA	OMADA HEALTH INC	786,330	$17.26M	0.3%	—	—	COM	68170A108
ADGM	ADAGIO MED HLDGS INC	9,876,586	$6.44M	0.1%	—	—	COM	00534B100
CTNM	CONTINEUM THERAPEUTICS INC	1,255,592	$20.58M	0.3%	—	—	CL A	21217B100
IMTX	IMMATICS N.V	10,383,456	$105M	1.6%	—	—	SHS	N44445109
LONA	LEONABIO INC	1,859,322	$17.09M	0.3%	—	—	COM	04746L203
RVMDW	REVOLUTION MEDICINES INC	250,000	$2.345M	0.0%	—	—	*W EXP 12/17/202	76155X118
EDSA	EDESA BIOTECH INC	563,239	$4.579M	0.1%	—	—	COM NEW	27966L306
AGMB	AGOMAB THERAPEUTICS NV	600,000	$7.788M	0.1%	—	—	SPONSORED ADS	00860C102
—	CELCUITY INC	6,500,000	$14.63M	0.2%	—	—	NOTE 2.750% 8/0	15102KAA8
OM	OUTSET MED INC	833,333	$3.6M	0.1%	—	—	COM NEW	690145206
OBIO	ORCHESTRA BIOMED HLDGS INC	5,037,906	$21.74M	0.3%	—	—	COM	68572M106
CNTB	CONNECT BIOPHARMA HLDGS LTD	792,696	$1.887M	0.0%	—	—	SHS	G23549101
XGN	EXAGEN INC	114,893	$534K	0.0%	—	—	COM	30068X103
MDLN	MEDLINE INC	28,000	$1.104M	0.0%	—	—	COM CL A	58507V107
GLTO	DAMORA THERAPEUTICS INC	1,223,000	$31.81M	0.5%	—	—	COM NEW	36322Q206
CBIO	CRESCENT BIOPHARMA INC.	206,942	$3.725M	0.1%	—	—	COM	G2545C104
COGT	COGENT BIOSCIENCES INC	121,082	$4.686M	0.1%	—	—	COM	19240Q201
ENSC	ENSYSCE BIOSCIENCES INC	86,666	$25,133	0.0%	—	—	COM NEW	293602504
SRZNW	SURROZEN INC	166,666	$2,750	0.0%	—	—	*W EXP 08/01/203	86889P117