Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
INCY	Incyte Corporation	30,762,330	$3.487B	17.5%	—	—	COM	45337C102
ONC	BeOne Medicines Ltd.	8,801,567	$2.508B	12.6%	—	—	SPONSORED ADS	07725L102
RVMD	Revolution Medicines, Inc.	11,443,357	$2.143B	10.7%	—	—	COM	76155X100
MDGL	Madrigal Pharmaceuticals, Inc.	2,143,131	$1.151B	5.8%	—	—	COM	558868105
ACAD	ACADIA Pharmaceuticals Inc.	42,912,904	$1.086B	5.4%	—	—	COM	004225108
KYMR	Kymera Therapeutics, Inc.	8,657,242	$993M	5.0%	—	—	COM	501575104
INSM	Insmed Incorporated	8,796,111	$938M	4.7%	—	—	COM PAR $.01	457669307
CELC	Celcuity Inc.	7,915,792	$828M	4.2%	—	—	COM	15102K100
KOD	Kodiak Sciences Inc.	19,919,186	$776M	3.9%	—	—	COM	50015M109
RYTM	Rhythm Pharmaceuticals, Inc.	5,604,483	$622M	3.1%	—	—	COM	76243J105
PRAX	Praxis Precision Medicines, Inc.	1,753,198	$587M	2.9%	—	—	COM	74006W207
ALKS	Alkermes plc	10,012,267	$525M	2.6%	—	—	SHS	G01767105
SMMT	Summit Therapeutics Inc.	32,786,348	$478M	2.4%	—	—	COM	86627T108
GRAL	GRAIL, Inc.	4,028,614	$275M	1.4%	—	—	COM	384747101
ABCL	AbCellera Biologics Inc.	33,012,138	$259M	1.3%	—	—	COM	00288U106
IMVT	Immunovant, Inc.	5,435,220	$209M	1.0%	—	—	COM	45258J102
IDYA	IDEAYA Biosciences, Inc.	5,010,030	$187M	0.9%	—	—	COM	45166A102
KNSA	Kiniksa Pharmaceuticals International, plc	2,834,643	$181M	0.9%	—	—	ORD SHS CL A	G52694109
ROIV	Roivant Sciences Ltd.	4,716,831	$167M	0.8%	—	—	SHS	G76279101
ARWR	Arrowhead Pharmaceuticals, Inc.	1,992,783	$162M	0.8%	—	—	COM	04280A100
IONS	Ionis Pharmaceuticals, Inc.	2,047,727	$162M	0.8%	—	—	COM	462222100
EWTX	Edgewise Therapeutics, Inc.	3,701,719	$150M	0.8%	—	—	COM	28036F105
REPL	Replimune Group, Inc.	11,045,336	$122M	0.6%	—	—	COM	76029N106
NRIX	Nurix Therapeutics, Inc.	4,658,556	$113M	0.6%	—	—	COM	67080M103
STOK	Stoke Therapeutics, Inc.	3,336,697	$109M	0.5%	—	—	COM	86150R107
GLUE	Monte Rosa Therapeutics, Inc.	4,345,736	$105M	0.5%	—	—	COM	61225M102
IMTX	Immatics N.V.	9,508,565	$96.32M	0.5%	—	—	SHS	N44445109
DNLI	Denali Therapeutics Inc.	3,734,336	$96.05M	0.5%	—	—	COM	24823R105
CRNX	Crinetics Pharmaceuticals, Inc.	2,351,465	$87.99M	0.4%	—	—	COM	22663K107
DNTH	Dianthus Therapeutics, Inc.	852,164	$83.07M	0.4%	—	—	COM	252828108
GPCR	Structure Therapeutics Inc.	1,432,529	$76.88M	0.4%	—	—	SPONSORED ADS	86366E106
—	Celcuity Inc.	30,750,000	$69.16M	0.3%	—	—	Note 2.75% 8/1/2031	15102KAA8
RAPP	Rapport Therapeutics, Inc.	1,547,090	$64.47M	0.3%	—	—	COM	75383L102
ALMS	Alumis Inc.	2,012,500	$56.63M	0.3%	—	—	COM	022307102
PRLD	Prelude Therapeutics Inc.	10,123,824	$53.96M	0.3%	—	—	COM	74065P101
RLAY	Relay Therapeutics, Inc.	2,826,783	$52.89M	0.3%	—	—	COM	75943R102
MIRM	Mirum Pharmaceuticals, Inc.	445,975	$52.21M	0.3%	—	—	COM	604749101
BCYC	Bicycle Therapeutics plc	10,885,357	$46.15M	0.2%	—	—	SPONSORED ADS	088786108
ELVN	Enliven Therapeutics, Inc.	905,191	$45.94M	0.2%	—	—	COM	29337E102
CLDX	Celldex Therapeutics, Inc.	1,182,611	$44M	0.2%	—	—	COM	15117B202
VRDN	Viridian Therapeutics, Inc.	2,383,025	$43.78M	0.2%	—	—	COM	92790C104
DSGN	Design Therapeutics, Inc.	2,678,430	$38.76M	0.2%	—	—	COM	25056L103
TRDA	Entrada Therapeutics, Inc.	5,072,730	$37.34M	0.2%	—	—	COM	29384C108
SNSE	Faeth Therapeutics, Inc.	1,286,411	$32.16M	0.2%	—	—	COM	81728A207
AKTS	Aktis Oncology, Inc.	996,351	$32.11M	0.2%	—	—	COM	01021M104
NGNE	Neurogene Inc.	991,691	$31.19M	0.2%	—	—	COM	64135M105
JBIO	Jade Biosciences, Inc.	1,230,426	$27.34M	0.1%	—	—	COM	008064206
TSHA	Taysha Gene Therapies, Inc.	4,004,756	$27.27M	0.1%	—	—	COM SHS	877619106
RCUS	Arcus Biosciences, Inc.	844,816	$26.05M	0.1%	—	—	COM	03969F109
IRON	Disc Medicine, Inc.	349,657	$25.57M	0.1%	—	—	COM	254604101
ABSI	Absci Corporation	2,134,803	$24.74M	0.1%	—	—	COM	00091E109
GENB	Generate Biomedicines, Inc.	1,423,602	$24.02M	0.1%	—	—	COM SHS	370920100
DBVT	DBV Technologies S.A.	1,461,425	$23.97M	0.1%	—	—	SPONSORED ADS	23306J309
XENE	Xenon Pharmaceuticals Inc.	370,208	$22.35M	0.1%	—	—	COM	98420N105
TECX	Tectonic Therapeutic, Inc.	607,788	$20.89M	0.1%	—	—	COM	878972108
CERS	Cerus Corporation	6,395,431	$18.67M	0.1%	—	—	COM	157085101
CTMX	CytomX Therapeutics, Inc.	4,975,826	$18.66M	0.1%	—	—	COM	23284F105
DYN	Dyne Therapeutics, Inc.	813,449	$18.07M	0.1%	—	—	COM	26818M108
CYTK	Cytokinetics, Incorporated	211,267	$18M	0.1%	—	—	COM	23282W605
XNCR	Xencor, Inc.	1,102,106	$17.74M	0.1%	—	—	COM	98401F105
SION	Sionna Therapeutics, Inc.	400,000	$17.6M	0.1%	—	—	COM	829401108
NTLA	Intellia Therapeutics, Inc.	930,232	$15.74M	0.1%	—	—	COM	45826J105
PBLS	Parabilis Medicines, Inc.	500,000	$13.69M	0.1%	—	—	COM	698955101
MPLT	MapLight Therapeutics, Inc.	364,705	$13.07M	0.1%	—	—	COM	56565P103
AVLN	Avalyn Pharma Inc.	350,000	$11.52M	0.1%	—	—	COM SHS	05348Y105
EVMN	Evommune, Inc.	847,390	$11.26M	0.1%	—	—	COM SHS	30054Y107
BNTX	BioNTech SE	119,743	$11.14M	0.1%	—	—	SPONSORED ADS	09075V102
TNGX	Tango Therapeutics, Inc.	333,333	$10.42M	0.1%	—	—	COM	87583X109
AVTX	Avalo Therapeutics, Inc.	550,000	$10.16M	0.1%	—	—	COM	05338F306
SERA	Sera Prognostics, Inc.	5,498,170	$10.01M	0.1%	—	—	CLASS A COM	81749D107
VSTM	Verastem, Inc.	2,499,338	$9.547M	0.0%	—	—	COM	92337C203
SGMT	Sagimet Biosciences Inc.	952,996	$7.367M	0.0%	—	—	COM SER A	786700104
EIKN	Eikon Therapeutics, Inc.	555,555	$7.25M	0.0%	—	—	COM	282564103
LBRX	LB Pharmaceuticals Inc.	200,000	$6.491M	0.0%	—	—	COM SHS	50180M108
VTVT	vTv Therapeutics, Inc.	148,314	$5.584M	0.0%	—	—	CL A	918385204
WVE	Wave Life Sciences Ltd.	822,638	$4.78M	0.0%	—	—	SHS	Y95308105
TARA	Protara Therapeutics, Inc.	971,614	$3.712M	0.0%	—	—	COM STK	74365U107
TCRX	TScan Therapeutics, Inc.	2,784,792	$2.729M	0.0%	—	—	COM	89854M101
IMNM	Immunome, Inc.	55,306	$1.172M	0.0%	—	—	COM	45257U108
SKYE	Skye Bioscience, Inc.	1,575,243	$1.092M	0.0%	—	—	COM	83086J200
SANA	Sana Biotechnology, Inc.	310,483	$1.084M	0.0%	—	—	COM	799566104
ALGS	Aligos Therapeutics, Inc.	83,055	$479K	0.0%	—	—	COM	01626L204
TYRA	Tyra Biosciences, Inc.	10,607	$339K	0.0%	—	—	COM	90240B106
SRZNW	Surrozen, Inc. Warrants @ $172.50 8/11/2026 (15 FOR 1)	833,333	$13,750	0.0%	—	—	W EXP 8/11/2026	86889P117