VIKING GLOBAL INVESTORS LP Quant / Systematic

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	2,666,272	$834,543	2.2%	$285.60	0.0%	CAP STK CL A	02079K305
ICE	INTERCONTINENTAL EXCHANGE IN	4,803,197	$777,926	2.1%	$156.20	0.0%	COM	45866F104
AMZN	AMAZON COM INC	3,126,816	$721,732	1.9%	$228.79	0.0%	COM	023135106
DKS	DICKS SPORTING GOODS INC	2,572,969	$509,371	1.4%	$217.13	0.0%	COM	253393102
TMO	THERMO FISHER SCIENTIFIC INC	793,187	$459,612	1.2%	$565.16	0.0%	COM	883556102
STLA	STELLANTIS N.V	39,062,551	$434,320	1.2%	$11.12	—	SHS	N82405106
CCL	CARNIVAL CORP	14,061,827	$429,448	1.1%	$27.88	0.0%	UNIT 99/99/9999	143658300
UNH	UNITEDHEALTH GROUP INC	1,197,273	$395,232	1.0%	$337.21	0.0%	COM	91324P102
CB	CHUBB LIMITED	1,013,839	$316,439	0.8%	$292.40	0.0%	COM	H1467J104
PGR	PROGRESSIVE CORP	1,331,538	$303,218	0.8%	$212.34	0.0%	COM	743315103
LII	LENNOX INTL INC	621,311	$301,696	0.8%	$499.61	0.0%	COM	526107107
TW	TRADEWEB MKTS INC	2,768,659	$297,742	0.8%	$107.35	0.0%	CL A	892672106
MDLN	MEDLINE INC	6,959,157	$292,285	0.8%	$42.23	0.0%	COM CL A	58507V107
AJG	GALLAGHER ARTHUR J & CO	1,040,977	$269,394	0.7%	$264.22	0.0%	COM	363576109
DLR	DIGITAL RLTY TR INC	1,507,988	$233,301	0.6%	$163.13	0.0%	COM	253868103
LOW	LOWES COS INC	912,040	$219,948	0.6%	$239.83	0.0%	COM	548661107
FIG	FIGMA INC	5,752,388	$214,967	0.6%	$45.19	0.0%	CLASS A COM STK	316841105
ITUB	ITAU UNIBANCO HLDG S A	28,396,545	$203,319	0.5%	$7.16	—	SPON ADR REP PFD	465562106
RIOT	RIOT PLATFORMS INC	12,428,894	$157,474	0.4%	$17.11	0.0%	COM	767292105
IQV	IQVIA HLDGS INC	619,236	$139,582	0.4%	$217.58	0.0%	COM	46266C105
WST	WEST PHARMACEUTICAL SVSC INC	295,028	$81,174	0.2%	$273.43	0.0%	COM	955306105

Increased Positions (17)

V VISA INC 3.7%

Value ($000) $1,397,301 (+41.3%) Shares 3,984,205 (+37.5%) Est. Cost $312.34 Unrealized +9.0%

TSM TAIWAN SEMICONDUCTOR MFG LTD 4.0%

Value ($000) $1,493,588 (+35.6%) Shares 4,914,896 (+24.6%) Est. Cost $214.37 Unrealized —

MSFT MICROSOFT CORP 4.1%

Value ($000) $1,556,116 (+23.7%) Shares 3,217,642 (+32.4%) Est. Cost $506.72 Unrealized -1.2%

ROST ROSS STORES INC 1.5%

Value ($000) $570,590 (+85.0%) Shares 3,167,479 (+56.5%) Est. Cost $150.12 Unrealized +11.0%

CHWY CHEWY INC 1.2%

Value ($000) $447,386 (+101.7%) Shares 13,536,645 (+146.9%) Est. Cost $36.28 Unrealized -4.3%

BA BOEING CO 2.3%

Value ($000) $858,294 (+32.1%) Shares 3,953,087 (+31.3%) Est. Cost $172.51 Unrealized +19.2%

APD AIR PRODS & CHEMS INC 3.1%

Value ($000) $1,181,382 (+18.1%) Shares 4,782,534 (+30.4%) Est. Cost $269.78 Unrealized -6.7%

MAA MID-AMER APT CMNTYS INC 1.4%

Value ($000) $538,977 (+45.8%) Shares 3,880,048 (+46.7%) Est. Cost $139.58 Unrealized -4.7%

CPT CAMDEN PPTY TR 1.4%

Value ($000) $524,476 (+27.7%) Shares 4,764,495 (+23.9%) Est. Cost $100.74 Unrealized +2.4%

DKNG DRAFTKINGS INC NEW 1.7%

Value ($000) $658,872 (+17.4%) Shares 19,119,912 (+27.4%) Est. Cost $41.88 Unrealized -21.5%

MCD MCDONALDS CORP 2.9%

Value ($000) $1,106,141 (+7.9%) Shares 3,619,215 (+7.2%) Est. Cost $300.11 Unrealized +1.7%

DIS DISNEY WALT CO 3.4%

Value ($000) $1,273,485 (+6.4%) Shares 11,193,504 (+7.1%) Est. Cost $109.08 Unrealized +0.4%

SE SEA LTD 1.2%

Value ($000) $468,379 (-13.8%) Shares 3,671,545 (+20.8%) Est. Cost $129.99 Unrealized —

TSLA TESLA INC 2.0%

Value ($000) $764,408 (+6.8%) Shares 1,699,741 (+5.6%) Est. Cost $329.03 Unrealized +34.7%

SHW SHERWIN WILLIAMS CO 2.7%

Value ($000) $1,027,923 (+3.0%) Shares 3,172,308 (+10.1%) Est. Cost $343.61 Unrealized -2.8%

TMUS T-MOBILE US INC 2.0%

Value ($000) $762,256 (-2.4%) Shares 3,754,218 (+15.1%) Est. Cost $223.41 Unrealized -5.4%

RRX REGAL REXNORD CORPORATION 1.2%

Value ($000) $452,383 (+1.0%) Shares 3,223,940 (+3.2%) Est. Cost $138.11 Unrealized +3.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
V	VISA INC	3,984,205 (+37.5%)	$1,397,301 (+41.3%)	3.7%	$312.34	+9.0%	COM CL A	92826C839
TSM	TAIWAN SEMICONDUCTOR MFG LTD	4,914,896 (+24.6%)	$1,493,588 (+35.6%)	4.0%	$214.37	—	SPONSORED ADS	874039100
MSFT	MICROSOFT CORP	3,217,642 (+32.4%)	$1,556,116 (+23.7%)	4.1%	$506.72	-1.2%	COM	594918104
ROST	ROSS STORES INC	3,167,479 (+56.5%)	$570,590 (+85.0%)	1.5%	$150.12	+11.0%	COM	778296103
CHWY	CHEWY INC	13,536,645 (+146.9%)	$447,386 (+101.7%)	1.2%	$36.28	-4.3%	CL A	16679L109
BA	BOEING CO	3,953,087 (+31.3%)	$858,294 (+32.1%)	2.3%	$172.51	+19.2%	COM	097023105
APD	AIR PRODS & CHEMS INC	4,782,534 (+30.4%)	$1,181,382 (+18.1%)	3.1%	$269.78	-6.7%	COM	009158106
MAA	MID-AMER APT CMNTYS INC	3,880,048 (+46.7%)	$538,977 (+45.8%)	1.4%	$139.58	-4.7%	COM	59522J103
CPT	CAMDEN PPTY TR	4,764,495 (+23.9%)	$524,476 (+27.7%)	1.4%	$100.74	+2.4%	SH BEN INT	133131102
DKNG	DRAFTKINGS INC NEW	19,119,912 (+27.4%)	$658,872 (+17.4%)	1.7%	$41.88	-21.5%	COM CL A	26142V105
MCD	MCDONALDS CORP	3,619,215 (+7.2%)	$1,106,141 (+7.9%)	2.9%	$300.11	+1.7%	COM	580135101
DIS	DISNEY WALT CO	11,193,504 (+7.1%)	$1,273,485 (+6.4%)	3.4%	$109.08	+0.4%	COM	254687106
SE	SEA LTD	3,671,545 (+20.8%)	$468,379 (-13.8%)	1.2%	$129.99	—	SPONSORD ADS	81141R100
TSLA	TESLA INC	1,699,741 (+5.6%)	$764,408 (+6.8%)	2.0%	$329.03	+34.7%	COM	88160R101
SHW	SHERWIN WILLIAMS CO	3,172,308 (+10.1%)	$1,027,923 (+3.0%)	2.7%	$343.61	-2.8%	COM	824348106
TMUS	T-MOBILE US INC	3,754,218 (+15.1%)	$762,256 (-2.4%)	2.0%	$223.41	-5.4%	COM	872590104
RRX	REGAL REXNORD CORPORATION	3,223,940 (+3.2%)	$452,383 (+1.0%)	1.2%	$138.11	+3.0%	COM	758750103

Exited Positions (23)

BLK BLACKROCK INC 1.9%

Value ($000) $722,247 Shares 619,492 Est. Cost $1053.44 Unrealized +3.4%

PM PHILIP MORRIS INTL INC 1.9%

Value ($000) $717,918 Shares 4,426,128 Est. Cost $106.64 Unrealized +44.0%

META META PLATFORMS INC 1.8%

Value ($000) $682,241 Shares 929,003 Est. Cost $714.66 Unrealized -6.6%

NKE NIKE INC 1.7%

Value ($000) $627,331 Shares 8,996,579 Est. Cost $70.39 Unrealized -7.8%

NFLX NETFLIX INC 1.6%

Value ($000) $600,434 Shares 500,812 Est. Cost $122.05 Unrealized -11.7%

COR CENCORA INC 1.5%

Value ($000) $555,721 Shares 1,778,135 Est. Cost $267.71 Unrealized +27.2%

DHR DANAHER CORPORATION 1.4%

Value ($000) $545,462 Shares 2,751,245 Est. Cost $196.74 Unrealized +11.6%

PRMB PRIMO BRANDS CORPORATION 1.4%

Value ($000) $509,051 Shares 23,033,970 Est. Cost $31.21 Unrealized -40.8%

KKR KKR & CO INC 0.9%

Value ($000) $352,038 Shares 2,709,024 Est. Cost $141.65 Unrealized -12.3%

CMG CHIPOTLE MEXICAN GRILL INC 0.7%

Value ($000) $260,087 Shares 6,636,563 Est. Cost $53.05 Unrealized -31.8%

EW EDWARDS LIFESCIENCES CORP 0.6%

Value ($000) $238,688 Shares 3,069,151 Est. Cost $78.13 Unrealized +5.0%

DB DEUTSCHE BANK AG 0.6%

Value ($000) $214,593 Shares 6,102,855 Est. Cost $34.09 Unrealized +5.9%

CBRE CBRE GROUP INC 0.5%

Value ($000) $190,648 Shares 1,210,004 Est. Cost $154.70 Unrealized +1.6%

INTU INTUIT 0.5%

Value ($000) $180,381 Shares 264,136 Est. Cost $719.44 Unrealized -8.2%

DECK DECKERS OUTDOOR CORP 0.5%

Value ($000) $175,058 Shares 1,726,926 Est. Cost $109.07 Unrealized -14.1%

FSLR FIRST SOLAR INC 0.4%

Value ($000) $169,366 Shares 767,996 Est. Cost $152.94 Unrealized +64.9%

APP APPLOVIN CORP 0.3%

Value ($000) $116,781 Shares 162,525 Est. Cost $298.02 Unrealized +111.4%

RYAN RYAN SPECIALTY HOLDINGS INC 0.3%

Value ($000) $109,054 Shares 1,934,957 Est. Cost $65.85 Unrealized -16.7%

ITGR INTEGER HLDGS CORP 0.3%

Value ($000) $105,907 Shares 1,024,942 Est. Cost $114.31 Unrealized -30.3%

TEVA TEVA PHARMACEUTICAL INDS LTD 0.1%

Value ($000) $51,149 Shares 2,532,119 Est. Cost $17.03 Unrealized —

STUB STUBHUB HLDGS INC 0.1%

Value ($000) $34,367 Shares 2,040,816 Est. Cost $18.34 Unrealized -14.3%

CART MAPLEBEAR INC 0.1%

Value ($000) $30,616 Shares 832,857 Est. Cost $43.48 Unrealized -5.9%

ESTA ESTABLISHMENT LABS HLDGS INC 0.0%

Value ($000) $14,079 Shares 343,465 Est. Cost $34.87 Unrealized +73.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BLK	BLACKROCK INC	619,492	$722,247	1.9%	$1053.44	+3.4%	—	09290D101
PM	PHILIP MORRIS INTL INC	4,426,128	$717,918	1.9%	$106.64	+44.0%	—	718172109
META	META PLATFORMS INC	929,003	$682,241	1.8%	$714.66	-6.6%	—	30303M102
NKE	NIKE INC	8,996,579	$627,331	1.7%	$70.39	-7.8%	—	654106103
NFLX	NETFLIX INC	500,812	$600,434	1.6%	$122.05	-11.7%	—	64110L106
COR	CENCORA INC	1,778,135	$555,721	1.5%	$267.71	+27.2%	—	03073E105
DHR	DANAHER CORPORATION	2,751,245	$545,462	1.4%	$196.74	+11.6%	—	235851102
PRMB	PRIMO BRANDS CORPORATION	23,033,970	$509,051	1.4%	$31.21	-40.8%	—	741623102
KKR	KKR & CO INC	2,709,024	$352,038	0.9%	$141.65	-12.3%	—	48251W104
CMG	CHIPOTLE MEXICAN GRILL INC	6,636,563	$260,087	0.7%	$53.05	-31.8%	—	169656105
EW	EDWARDS LIFESCIENCES CORP	3,069,151	$238,688	0.6%	$78.13	+5.0%	—	28176E108
DB	DEUTSCHE BANK AG	6,102,855	$214,593	0.6%	$34.09	+5.9%	—	D18190898
CBRE	CBRE GROUP INC	1,210,004	$190,648	0.5%	$154.70	+1.6%	—	12504L109
INTU	INTUIT	264,136	$180,381	0.5%	$719.44	-8.2%	—	461202103
DECK	DECKERS OUTDOOR CORP	1,726,926	$175,058	0.5%	$109.07	-14.1%	—	243537107
FSLR	FIRST SOLAR INC	767,996	$169,366	0.4%	$152.94	+64.9%	—	336433107
APP	APPLOVIN CORP	162,525	$116,781	0.3%	$298.02	+111.4%	—	03831W108
RYAN	RYAN SPECIALTY HOLDINGS INC	1,934,957	$109,054	0.3%	$65.85	-16.7%	—	78351F107
ITGR	INTEGER HLDGS CORP	1,024,942	$105,907	0.3%	$114.31	-30.3%	—	45826H109
TEVA	TEVA PHARMACEUTICAL INDS LTD	2,532,119	$51,149	0.1%	$17.03	—	—	881624209
STUB	STUBHUB HLDGS INC	2,040,816	$34,367	0.1%	$18.34	-14.3%	—	86384P109
CART	MAPLEBEAR INC	832,857	$30,616	0.1%	$43.48	-5.9%	—	565394103
ESTA	ESTABLISHMENT LABS HLDGS INC	343,465	$14,079	0.0%	$34.87	+73.2%	—	G31249108

Decreased Positions (28)

JPM JPMORGAN CHASE & CO. 1.6%

Value ($000) $614,146 (-61.5%) Shares 1,905,982 (-62.3%) Est. Cost $243.15 Unrealized +27.3%

COF CAPITAL ONE FINL CORP 1.9%

Value ($000) $715,524 (-54.4%) Shares 2,952,317 (-60.0%) Est. Cost $193.74 Unrealized +14.7%

BAC BANK AMERICA CORP 0.7%

Value ($000) $247,205 (-58.3%) Shares 4,494,629 (-60.9%) Est. Cost $40.50 Unrealized +30.1%

CVNA CARVANA CO 1.2%

Value ($000) $447,988 (-43.5%) Shares 1,061,533 (-49.5%) Est. Cost $281.54 Unrealized +32.0%

BBIO BRIDGEBIO PHARMA INC 2.9%

Value ($000) $1,100,992 (+32.7%) Shares 14,393,934 (-9.9%) Est. Cost $27.26 Unrealized +140.8%

GM GENERAL MTRS CO 1.5%

Value ($000) $553,472 (-30.3%) Shares 6,806,095 (-47.8%) Est. Cost $48.61 Unrealized +44.8%

AON AON PLC 0.7%

Value ($000) $276,534 (-45.2%) Shares 783,650 (-44.6%) Est. Cost $361.49 Unrealized -3.4%

ROIV ROIVANT SCIENCES LTD 0.4%

Value ($000) $139,817 (-60.8%) Shares 6,443,191 (-72.7%) Est. Cost $8.32 Unrealized +137.2%

SCHW SCHWAB CHARLES CORP 3.7%

Value ($000) $1,386,042 (-12.5%) Shares 13,872,905 (-16.3%) Est. Cost $74.30 Unrealized +27.5%

AMD ADVANCED MICRO DEVICES INC 2.1%

Value ($000) $801,428 (+18.5%) Shares 3,742,191 (-10.5%) Est. Cost $137.38 Unrealized +63.5%

HCA HCA HEALTHCARE INC 1.2%

Value ($000) $466,477 (-20.7%) Shares 999,180 (-27.6%) Est. Cost $319.25 Unrealized +45.3%

UBS UBS GROUP AG 1.1%

Value ($000) $425,958 (-20.4%) Shares 9,128,817 (-30.3%) Est. Cost $37.28 Unrealized +8.4%

BMRN BIOMARIN PHARMACEUTICAL INC 1.0%

Value ($000) $358,775 (-20.4%) Shares 6,036,936 (-27.5%) Est. Cost $81.69 Unrealized -33.4%

MASI MASIMO CORP 0.2%

Value ($000) $66,895 (-57.8%) Shares 514,340 (-52.1%) Est. Cost $157.34 Unrealized -9.0%

CLS CELESTICA INC 1.3%

Value ($000) $502,311 (+18.3%) Shares 1,699,236 (-1.4%) Est. Cost $201.61 Unrealized +49.5%

PNC PNC FINL SVCS GROUP INC 4.0%

Value ($000) $1,521,030 (-4.9%) Shares 7,287,068 (-8.4%) Est. Cost $186.86 Unrealized +3.2%

CSX CSX CORP 1.3%

Value ($000) $500,886 (-11.6%) Shares 13,817,539 (-13.4%) Est. Cost $32.16 Unrealized +11.0%

RAL RALLIANT CORP 0.4%

Value ($000) $161,009 (-27.6%) Shares 3,162,630 (-37.8%) Est. Cost $49.24 Unrealized -4.8%

CSGP COSTAR GROUP INC 0.3%

Value ($000) $96,999 (-37.8%) Shares 1,442,582 (-22.0%) Est. Cost $77.90 Unrealized -9.1%

SAIA SAIA INC 0.9%

Value ($000) $355,444 (-14.2%) Shares 1,088,582 (-21.3%) Est. Cost $291.66 Unrealized +3.6%

FTV FORTIVE CORP 2.8%

Value ($000) $1,061,593 (+5.8%) Shares 19,228,265 (-6.1%) Est. Cost $51.01 Unrealized +1.7%

INBX INHIBRX BIOSCIENCES INC 0.3%

Value ($000) $113,579 (+88.6%) Shares 1,437,705 (-19.6%) Est. Cost $15.62 Unrealized +336.2%

AS AMER SPORTS INC 0.5%

Value ($000) $179,814 (-18.4%) Shares 4,814,290 (-24.1%) Est. Cost $33.02 Unrealized +3.9%

JCI JOHNSON CTLS INTL PLC 1.9%

Value ($000) $708,765 (-5.2%) Shares 5,918,707 (-12.9%) Est. Cost $103.63 Unrealized +10.8%

NAMS NEWAMSTERDAM PHARMA COMPANY 0.4%

Value ($000) $147,461 (-19.9%) Shares 4,203,567 (-35.1%) Est. Cost $11.25 Unrealized +223.6%

BSX BOSTON SCIENTIFIC CORP 0.6%

Value ($000) $239,310 (-7.2%) Shares 2,509,808 (-5.0%) Est. Cost $88.85 Unrealized +10.3%

APG API GROUP CORP 1.2%

Value ($000) $441,425 (+4.4%) Shares 11,537,518 (-6.2%) Est. Cost $9.28 Unrealized +298.6%

TRVI TREVI THERAPEUTICS INC 0.1%

Value ($000) $40,047 (-14.7%) Shares 3,198,644 (-37.6%) Est. Cost $6.23 Unrealized +85.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
JPM	JPMORGAN CHASE & CO.	1,905,982 (-62.3%)	$614,146 (-61.5%)	1.6%	$243.15	+27.3%	COM	46625H100
COF	CAPITAL ONE FINL CORP	2,952,317 (-60.0%)	$715,524 (-54.4%)	1.9%	$193.74	+14.7%	COM	14040H105
BAC	BANK AMERICA CORP	4,494,629 (-60.9%)	$247,205 (-58.3%)	0.7%	$40.50	+30.1%	COM	060505104
CVNA	CARVANA CO	1,061,533 (-49.5%)	$447,988 (-43.5%)	1.2%	$281.54	+32.0%	CL A	146869102
BBIO	BRIDGEBIO PHARMA INC	14,393,934 (-9.9%)	$1,100,992 (+32.7%)	2.9%	$27.26	+140.8%	COM	10806X102
GM	GENERAL MTRS CO	6,806,095 (-47.8%)	$553,472 (-30.3%)	1.5%	$48.61	+44.8%	COM	37045V100
AON	AON PLC	783,650 (-44.6%)	$276,534 (-45.2%)	0.7%	$361.49	-3.4%	SHS CL A	G0403H108
ROIV	ROIVANT SCIENCES LTD	6,443,191 (-72.7%)	$139,817 (-60.8%)	0.4%	$8.32	+137.2%	SHS	G76279101
SCHW	SCHWAB CHARLES CORP	13,872,905 (-16.3%)	$1,386,042 (-12.5%)	3.7%	$74.30	+27.5%	COM	808513105
AMD	ADVANCED MICRO DEVICES INC	3,742,191 (-10.5%)	$801,428 (+18.5%)	2.1%	$137.38	+63.5%	COM	007903107
HCA	HCA HEALTHCARE INC	999,180 (-27.6%)	$466,477 (-20.7%)	1.2%	$319.25	+45.3%	COM	40412C101
UBS	UBS GROUP AG	9,128,817 (-30.3%)	$425,958 (-20.4%)	1.1%	$37.28	+8.4%	SHS	H42097107
BMRN	BIOMARIN PHARMACEUTICAL INC	6,036,936 (-27.5%)	$358,775 (-20.4%)	1.0%	$81.69	-33.4%	COM	09061G101
MASI	MASIMO CORP	514,340 (-52.1%)	$66,895 (-57.8%)	0.2%	$157.34	-9.0%	COM	574795100
CLS	CELESTICA INC	1,699,236 (-1.4%)	$502,311 (+18.3%)	1.3%	$201.61	+49.5%	COM	15101Q207
PNC	PNC FINL SVCS GROUP INC	7,287,068 (-8.4%)	$1,521,030 (-4.9%)	4.0%	$186.86	+3.2%	COM	693475105
CSX	CSX CORP	13,817,539 (-13.4%)	$500,886 (-11.6%)	1.3%	$32.16	+11.0%	COM	126408103
RAL	RALLIANT CORP	3,162,630 (-37.8%)	$161,009 (-27.6%)	0.4%	$49.24	-4.8%	COM	750940108
CSGP	COSTAR GROUP INC	1,442,582 (-22.0%)	$96,999 (-37.8%)	0.3%	$77.90	-9.1%	COM	22160N109
SAIA	SAIA INC	1,088,582 (-21.3%)	$355,444 (-14.2%)	0.9%	$291.66	+3.6%	COM	78709Y105
FTV	FORTIVE CORP	19,228,265 (-6.1%)	$1,061,593 (+5.8%)	2.8%	$51.01	+1.7%	COM	34959J108
INBX	INHIBRX BIOSCIENCES INC	1,437,705 (-19.6%)	$113,579 (+88.6%)	0.3%	$15.62	+336.2%	COM	45720N103
AS	AMER SPORTS INC	4,814,290 (-24.1%)	$179,814 (-18.4%)	0.5%	$33.02	+3.9%	COM SHS	G0260P102
JCI	JOHNSON CTLS INTL PLC	5,918,707 (-12.9%)	$708,765 (-5.2%)	1.9%	$103.63	+10.8%	SHS	G51502105
NAMS	NEWAMSTERDAM PHARMA COMPANY	4,203,567 (-35.1%)	$147,461 (-19.9%)	0.4%	$11.25	+223.6%	ORDINARY SHARES	N62509109
BSX	BOSTON SCIENTIFIC CORP	2,509,808 (-5.0%)	$239,310 (-7.2%)	0.6%	$88.85	+10.3%	COM	101137107
APG	API GROUP CORP	11,537,518 (-6.2%)	$441,425 (+4.4%)	1.2%	$9.28	+298.6%	COM STK	00187Y100
TRVI	TREVI THERAPEUTICS INC	3,198,644 (-37.6%)	$40,047 (-14.7%)	0.1%	$6.23	+85.5%	COM	89532M101

Unchanged Positions (10)

TIC TIC SOLUTIONS INC 0.9%

Value ($000) $347,380 Shares 34,360,000 Est. Cost $12.06 Unrealized -7.7%

ADPT ADAPTIVE BIOTECHNOLOGIES COR 1.3%

Value ($000) $487,098 Shares 29,993,708 Est. Cost $44.30 Unrealized -63.2%

SION SIONNA THERAPEUTICS INC 0.3%

Value ($000) $131,450 Shares 3,195,181 Est. Cost $16.09 Unrealized +135.6%

ORKA ORUKA THERAPEUTICS INC 0.2%

Value ($000) $80,827 Shares 2,666,690 Est. Cost $14.82 Unrealized +88.0%

ORIC ORIC PHARMACEUTICALS INC 0.1%

Value ($000) $53,765 Shares 6,572,691 Est. Cost $10.68 Unrealized +7.8%

DNA GINKGO BIOWORKS HOLDINGS INC 0.1%

Value ($000) $29,726 Shares 3,577,128 Est. Cost $10.02 Unrealized +7.4%

PHVS PHARVARIS N V 0.3%

Value ($000) $101,379 Shares 3,653,310 Est. Cost $24.52 Unrealized -1.8%

PEPG PEPGEN INC 0.1%

Value ($000) $22,671 Shares 3,482,434 Est. Cost $5.67 Unrealized -8.5%

LAB STANDARD BIOTOOLS INC 0.2%

Value ($000) $75,073 Shares 58,651,170 Est. Cost $2.41 Unrealized -44.4%

— RALLYBIO CORP 0.0%

Value ($000) $2,878 Shares 4,194,777 Est. Cost $17.58 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TIC	TIC SOLUTIONS INC	34,360,000	$347,380	0.9%	$12.06	-7.7%	COM	00510N102
ADPT	ADAPTIVE BIOTECHNOLOGIES COR	29,993,708	$487,098	1.3%	$44.30	-63.2%	COM	00650F109
SION	SIONNA THERAPEUTICS INC	3,195,181	$131,450	0.3%	$16.09	+135.6%	COM	829401108
ORKA	ORUKA THERAPEUTICS INC	2,666,690	$80,827	0.2%	$14.82	+88.0%	COM	687604108
ORIC	ORIC PHARMACEUTICALS INC	6,572,691	$53,765	0.1%	$10.68	+7.8%	COM	68622P109
DNA	GINKGO BIOWORKS HOLDINGS INC	3,577,128	$29,726	0.1%	$10.02	+7.4%	CL A NEW	37611X209
PHVS	PHARVARIS N V	3,653,310	$101,379	0.3%	$24.52	-1.8%	COM	N69605108
PEPG	PEPGEN INC	3,482,434	$22,671	0.1%	$5.67	-8.5%	COM	713317105
LAB	STANDARD BIOTOOLS INC	58,651,170	$75,073	0.2%	$2.41	-44.4%	COM	34385P108
—	RALLYBIO CORP	4,194,777	$2,878	0.0%	$17.58	—	COM	75120L100