Rhenman & Partners Asset Management AB Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SYK	STRYKER CORPORATION	47,800	$15,707	1.9%	$364.67	0.0%	COM	863667101
VEEV	VEEVA SYS INC	85,300	$14,984	1.8%	$203.93	0.0%	CL A COM	922475108
ABT	ABBOTT LABORATORIES	112,000	$11,499	1.4%	$115.41	0.0%	COM	002824100
WAY	WAYSTAR HLDG CORP	342,566	$8,259	1.0%	$27.49	0.0%	COM	946784105
APGE	APOGEE THERAPEUTICS INC	75,000	$6,313	0.8%	$72.23	0.0%	COM	03770N101
CAH	CARDINAL HEALTH INC	27,000	$5,705	0.7%	$215.31	0.0%	COM	14149Y108
NKTR	NEKTAR THERAPEUTICS	59,000	$4,245	0.5%	$48.33	0.0%	COM NEW	640268306
SION	SIONNA THERAPEUTICS INC	87,500	$3,508	0.4%	$39.25	0.0%	COM	829401108
ESPR	ESPERION THERAPEUTICS INC NE	985,000	$2,699	0.3%	$3.42	0.0%	COM	29664W105
NVCR	NOVOCURE LTD	70,000	$763	0.1%	$12.57	0.0%	ORD SHS	G6674U108
CMPX	COMPASS THERAPEUTICS INC	115,113	$609	0.1%	$6.00	0.0%	COM	20454B104

Increased Positions (29)

GILD GILEAD SCIENCES INC 2.9%

Value ($000) $23,379 (+51.0%) Shares 167,750 (+33.0%) Est. Cost $98.48 Unrealized +40.5%

INSM INSMED INC 3.2%

Value ($000) $26,124 (+32.2%) Shares 159,760 (+40.7%) Est. Cost $93.37 Unrealized +70.3%

GH GUARDANT HEALTH INC 1.7%

Value ($000) $13,394 (+63.9%) Shares 145,000 (+81.3%) Est. Cost $85.43 Unrealized +25.8%

ELV ELEVANCE HEALTH INC 1.2%

Value ($000) $9,456 (+79.8%) Shares 32,300 (+115.3%) Est. Cost $387.40 Unrealized -9.3%

VRTX VERTEX PHARMACEUTICALS INC 2.4%

Value ($000) $19,418 (+25.0%) Shares 43,485 (+26.9%) Est. Cost $345.52 Unrealized +35.3%

OSCR OSCAR HEALTH INC 0.9%

Value ($000) $7,570 (+102.6%) Shares 660,000 (+153.8%) Est. Cost $15.74 Unrealized -6.4%

BIIB BIOGEN INC 2.5%

Value ($000) $20,001 (+23.1%) Shares 109,100 (+18.1%) Est. Cost $160.19 Unrealized +14.4%

RPRX ROYALTY PHARMA PLC 1.4%

Value ($000) $11,177 (+40.1%) Shares 233,000 (+12.8%) Est. Cost $32.56 Unrealized +29.9%

IQV IQVIA HLDGS INC 1.1%

Value ($000) $9,039 (+51.3%) Shares 53,000 (+100.0%) Est. Cost $208.61 Unrealized +0.7%

IOVA IOVANCE BIOTHERAPEUTICS INC 0.9%

Value ($000) $7,214 (+65.6%) Shares 2,055,327 (+28.8%) Est. Cost $4.78 Unrealized -44.0%

VKTX VIKING THERAPEUTICS INC 0.6%

Value ($000) $5,206 (+78.3%) Shares 160,000 (+92.8%) Est. Cost $27.02 Unrealized +16.0%

DNLI DENALI THERAPEUTICS INC 0.5%

Value ($000) $3,821 (+131.4%) Shares 199,000 (+99.0%) Est. Cost $19.39 Unrealized +1.2%

MLYS MINERALYS THERAPEUTICS INC 0.9%

Value ($000) $7,127 (+37.7%) Shares 263,071 (+84.5%) Est. Cost $26.09 Unrealized +20.2%

BSX BOSTON SCIENTIFIC CORP 4.8%

Value ($000) $39,219 (-4.6%) Shares 625,000 (+44.9%) Est. Cost $69.71 Unrealized +23.1%

AVR ANTERIS TECHNOLOGIES GLOBAL 1.0%

Value ($000) $7,984 (+29.2%) Shares 1,438,625 (+16.1%) Est. Cost $6.31 Unrealized -11.5%

JAZZ JAZZ PHARMACEUTICALS PLC 1.8%

Value ($000) $14,347 (+14.0%) Shares 75,890 (+2.5%) Est. Cost $133.44 Unrealized +26.7%

ALHC ALIGNMENT HEALTHCARE INC 2.3%

Value ($000) $18,562 (-6.9%) Shares 1,053,450 (+4.4%) Est. Cost $9.75 Unrealized +119.9%

MDGL MADRIGAL PHARMACEUTICALS INC 1.6%

Value ($000) $12,589 (+10.6%) Shares 24,050 (+23.0%) Est. Cost $402.86 Unrealized +22.2%

NTRA NATERA INC 1.3%

Value ($000) $10,319 (+11.2%) Shares 51,600 (+27.4%) Est. Cost $134.17 Unrealized +68.3%

STE STERIS PLC 0.3%

Value ($000) $2,543 (+67.2%) Shares 11,500 (+91.7%) Est. Cost $253.19 Unrealized +0.9%

TMO THERMO FISHER SCIENTIFIC INC 2.5%

Value ($000) $20,320 (+4.2%) Shares 41,340 (+22.9%) Est. Cost $510.10 Unrealized +12.6%

STVN STEVANATO GROUP S P A 0.5%

Value ($000) $3,777 (+27.7%) Shares 274,676 (+86.8%) Est. Cost $20.87 Unrealized -15.8%

OCUL OCULAR THERAPEUTIX INC 0.3%

Value ($000) $2,583 (-19.7%) Shares 305,000 (+15.1%) Est. Cost $11.72 Unrealized -16.1%

BBIO BRIDGEBIO PHARMA INC 0.8%

Value ($000) $6,728 (+7.8%) Shares 90,600 (+11.0%) Est. Cost $66.52 Unrealized +12.0%

ATEC ALPHATEC HLDGS INC 0.1%

Value ($000) $762 (+81.0%) Shares 70,000 (+250.0%) Est. Cost $15.50 Unrealized +2.9%

ADPT ADAPTIVE BIOTECHNOLOGIES COR 1.2%

Value ($000) $9,994 (+1.7%) Shares 720,000 (+19.0%) Est. Cost $13.58 Unrealized +25.1%

IDYA IDEAYA Biosciences Inc 1.1%

Value ($000) $8,513 (-1.5%) Shares 255,500 (+2.2%) Est. Cost $31.93 Unrealized +6.1%

A AGILENT TECHNOLOGIES INC 0.4%

Value ($000) $2,850 (+4.7%) Shares 25,000 (+25.0%) Est. Cost $141.93 Unrealized -5.1%

CRL CHARLES RIV LABS INTL INC 0.6%

Value ($000) $4,485 (+2.2%) Shares 26,000 (+18.2%) Est. Cost $183.87 Unrealized +7.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GILD	GILEAD SCIENCES INC	167,750 (+33.0%)	$23,379 (+51.0%)	2.9%	$98.48	+40.5%	COM	375558103
INSM	INSMED INC	159,760 (+40.7%)	$26,124 (+32.2%)	3.2%	$93.37	+70.3%	COM PAR $.01	457669307
GH	GUARDANT HEALTH INC	145,000 (+81.3%)	$13,394 (+63.9%)	1.7%	$85.43	+25.8%	COM	40131M109
ELV	ELEVANCE HEALTH INC	32,300 (+115.3%)	$9,456 (+79.8%)	1.2%	$387.40	-9.3%	COM	036752103
VRTX	VERTEX PHARMACEUTICALS INC	43,485 (+26.9%)	$19,418 (+25.0%)	2.4%	$345.52	+35.3%	COM	92532F100
OSCR	OSCAR HEALTH INC	660,000 (+153.8%)	$7,570 (+102.6%)	0.9%	$15.74	-6.4%	CL A	687793109
BIIB	BIOGEN INC	109,100 (+18.1%)	$20,001 (+23.1%)	2.5%	$160.19	+14.4%	COM	09062X103
RPRX	ROYALTY PHARMA PLC	233,000 (+12.8%)	$11,177 (+40.1%)	1.4%	$32.56	+29.9%	SHS CLASS A	G7709Q104
IQV	IQVIA HLDGS INC	53,000 (+100.0%)	$9,039 (+51.3%)	1.1%	$208.61	+0.7%	COM	46266C105
IOVA	IOVANCE BIOTHERAPEUTICS INC	2,055,327 (+28.8%)	$7,214 (+65.6%)	0.9%	$4.78	-44.0%	COM	462260100
VKTX	VIKING THERAPEUTICS INC	160,000 (+92.8%)	$5,206 (+78.3%)	0.6%	$27.02	+16.0%	COM	92686J106
DNLI	DENALI THERAPEUTICS INC	199,000 (+99.0%)	$3,821 (+131.4%)	0.5%	$19.39	+1.2%	COM	24823R105
MLYS	MINERALYS THERAPEUTICS INC	263,071 (+84.5%)	$7,127 (+37.7%)	0.9%	$26.09	+20.2%	COM	603170101
BSX	BOSTON SCIENTIFIC CORP	625,000 (+44.9%)	$39,219 (-4.6%)	4.8%	$69.71	+23.1%	COM	101137107
AVR	ANTERIS TECHNOLOGIES GLOBAL	1,438,625 (+16.1%)	$7,984 (+29.2%)	1.0%	$6.31	-11.5%	COM	03675P102
JAZZ	JAZZ PHARMACEUTICALS PLC	75,890 (+2.5%)	$14,347 (+14.0%)	1.8%	$133.44	+26.7%	SHS USD	G50871105
ALHC	ALIGNMENT HEALTHCARE INC	1,053,450 (+4.4%)	$18,562 (-6.9%)	2.3%	$9.75	+119.9%	COM	01625V104
MDGL	MADRIGAL PHARMACEUTICALS INC	24,050 (+23.0%)	$12,589 (+10.6%)	1.6%	$402.86	+22.2%	COM	558868105
NTRA	NATERA INC	51,600 (+27.4%)	$10,319 (+11.2%)	1.3%	$134.17	+68.3%	COM	632307104
STE	STERIS PLC	11,500 (+91.7%)	$2,543 (+67.2%)	0.3%	$253.19	+0.9%	SHS USD	G8473T100
TMO	THERMO FISHER SCIENTIFIC INC	41,340 (+22.9%)	$20,320 (+4.2%)	2.5%	$510.10	+12.6%	COM	883556102
STVN	STEVANATO GROUP S P A	274,676 (+86.8%)	$3,777 (+27.7%)	0.5%	$20.87	-15.8%	ORD SRS	T9224W109
OCUL	OCULAR THERAPEUTIX INC	305,000 (+15.1%)	$2,583 (-19.7%)	0.3%	$11.72	-16.1%	COM	67576A100
BBIO	BRIDGEBIO PHARMA INC	90,600 (+11.0%)	$6,728 (+7.8%)	0.8%	$66.52	+12.0%	COM	10806X102
ATEC	ALPHATEC HLDGS INC	70,000 (+250.0%)	$762 (+81.0%)	0.1%	$15.50	+2.9%	COM NEW	02081G201
ADPT	ADAPTIVE BIOTECHNOLOGIES COR	720,000 (+19.0%)	$9,994 (+1.7%)	1.2%	$13.58	+25.1%	COM	00650F109
IDYA	IDEAYA Biosciences Inc	255,500 (+2.2%)	$8,513 (-1.5%)	1.1%	$31.93	+6.1%	COM	45166A102
A	AGILENT TECHNOLOGIES INC	25,000 (+25.0%)	$2,850 (+4.7%)	0.4%	$141.93	-5.1%	COM	00846U101
CRL	CHARLES RIV LABS INTL INC	26,000 (+18.2%)	$4,485 (+2.2%)	0.6%	$183.87	+7.4%	COM	159864107

Exited Positions (19)

VERA VERA THERAPEUTICS INC 2.6%

Value ($000) $21,269 Shares 420,000 Est. Cost $31.68 Unrealized +42.0%

PEN PENUMBRA INC 1.2%

Value ($000) $9,794 Shares 31,500 Est. Cost $273.48 Unrealized +24.2%

APLS APELLIS PHARMACEUTICALS INC 1.2%

Value ($000) $9,406 Shares 374,450 Est. Cost $23.76 Unrealized -4.5%

ACLX ARCELLX INC 1.1%

Value ($000) $8,704 Shares 133,500 Est. Cost $74.24 Unrealized -4.0%

BRKR BRUKER CORP 0.9%

Value ($000) $6,940 Shares 147,315 Est. Cost $44.54 Unrealized +1.9%

RYTM RHYTHM PHARMACEUTICALS INC 0.5%

Value ($000) $3,746 Shares 35,000 Est. Cost $92.84 Unrealized +10.8%

RDNT RADNET INC 0.4%

Value ($000) $3,353 Shares 47,000 Est. Cost $55.72 Unrealized +28.4%

INSP INSPIRE MED SYS INC 0.4%

Value ($000) $3,302 Shares 35,800 Est. Cost $132.24 Unrealized -41.4%

JANX JANUX THERAPEUTICS INC 0.4%

Value ($000) $3,110 Shares 225,377 Est. Cost $26.17 Unrealized -47.8%

PRVA PRIVIA HEALTH GROUP INC 0.4%

Value ($000) $2,964 Shares 125,000 Est. Cost $23.85 Unrealized -4.3%

CYTK CYTOKINETICS INC 0.3%

Value ($000) $2,820 Shares 44,375 Est. Cost $43.53 Unrealized +48.0%

XNCR XENCOR INC 0.3%

Value ($000) $2,538 Shares 165,750 Est. Cost $29.77 Unrealized -57.5%

CNTA CENTESSA PHARMACEUTICALS PLC 0.3%

Value ($000) $2,501 Shares 100,000 Est. Cost $25.01 Unrealized —

TGTX TG THERAPEUTICS INC 0.3%

Value ($000) $2,184 Shares 73,250 Est. Cost $21.16 Unrealized +40.2%

BNTX BIONTECH SE 0.2%

Value ($000) $1,987 Shares 20,870 Est. Cost $118.61 Unrealized —

WST WEST PHARMACEUTICAL SVSC INC 0.2%

Value ($000) $1,926 Shares 7,000 Est. Cost $273.43 Unrealized -7.9%

CNC CENTENE CORP DEL 0.2%

Value ($000) $1,902 Shares 46,231 Est. Cost $52.30 Unrealized -17.1%

QURE UNIQURE NV 0.2%

Value ($000) $1,899 Shares 79,375 Est. Cost $38.59 Unrealized -39.0%

IRTC IRHYTHM TECHNOLOGIES INC 0.2%

Value ($000) $1,242 Shares 7,000 Est. Cost $158.94 Unrealized -0.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VERA	VERA THERAPEUTICS INC	420,000	$21,269	2.6%	$31.68	+42.0%	—	92337R101
PEN	PENUMBRA INC	31,500	$9,794	1.2%	$273.48	+24.2%	—	70975L107
APLS	APELLIS PHARMACEUTICALS INC	374,450	$9,406	1.2%	$23.76	-4.5%	—	03753U106
ACLX	ARCELLX INC	133,500	$8,704	1.1%	$74.24	-4.0%	—	03940C100
BRKR	BRUKER CORP	147,315	$6,940	0.9%	$44.54	+1.9%	—	116794108
RYTM	RHYTHM PHARMACEUTICALS INC	35,000	$3,746	0.5%	$92.84	+10.8%	—	76243J105
RDNT	RADNET INC	47,000	$3,353	0.4%	$55.72	+28.4%	—	750491102
INSP	INSPIRE MED SYS INC	35,800	$3,302	0.4%	$132.24	-41.4%	—	457730109
JANX	JANUX THERAPEUTICS INC	225,377	$3,110	0.4%	$26.17	-47.8%	—	47103J105
PRVA	PRIVIA HEALTH GROUP INC	125,000	$2,964	0.4%	$23.85	-4.3%	—	74276R102
CYTK	CYTOKINETICS INC	44,375	$2,820	0.3%	$43.53	+48.0%	—	23282W605
XNCR	XENCOR INC	165,750	$2,538	0.3%	$29.77	-57.5%	—	98401F105
CNTA	CENTESSA PHARMACEUTICALS PLC	100,000	$2,501	0.3%	$25.01	—	—	152309100
TGTX	TG THERAPEUTICS INC	73,250	$2,184	0.3%	$21.16	+40.2%	—	88322Q108
BNTX	BIONTECH SE	20,870	$1,987	0.2%	$118.61	—	—	09075V102
WST	WEST PHARMACEUTICAL SVSC INC	7,000	$1,926	0.2%	$273.43	-7.9%	—	955306105
CNC	CENTENE CORP DEL	46,231	$1,902	0.2%	$52.30	-17.1%	—	15135B101
QURE	UNIQURE NV	79,375	$1,899	0.2%	$38.59	-39.0%	—	N90064101
IRTC	IRHYTHM TECHNOLOGIES INC	7,000	$1,242	0.2%	$158.94	-0.2%	—	450056106

Decreased Positions (42)

COO COOPER COS INC 0.4%

Value ($000) $3,575 (-86.7%) Shares 50,000 (-84.7%) Est. Cost $83.47 Unrealized -1.6%

MDT MEDTRONIC PLC 1.0%

Value ($000) $7,799 (-72.6%) Shares 90,000 (-69.6%) Est. Cost $85.29 Unrealized +16.7%

DHR DANAHER CORPORATION 0.4%

Value ($000) $3,423 (-84.9%) Shares 18,052 (-81.8%) Est. Cost $212.32 Unrealized +5.8%

GKOS GLAUKOS CORP 1.1%

Value ($000) $9,043 (-61.9%) Shares 84,000 (-60.0%) Est. Cost $129.46 Unrealized -10.3%

PODD INSULET CORP 0.4%

Value ($000) $2,938 (-83.1%) Shares 14,000 (-77.0%) Est. Cost $231.73 Unrealized +14.1%

LLY LILLY ELI & CO 3.8%

Value ($000) $31,010 (-31.7%) Shares 33,715 (-20.1%) Est. Cost $528.85 Unrealized +98.0%

ALGN ALIGN TECHNOLOGY INC 0.2%

Value ($000) $1,286 (-91.7%) Shares 7,500 (-92.4%) Est. Cost $204.86 Unrealized -14.7%

DOCS DOXIMITY INC 0.5%

Value ($000) $4,283 (-74.1%) Shares 183,808 (-50.7%) Est. Cost $58.91 Unrealized -40.6%

REGN REGENERON PHARMACEUTICALS 4.6%

Value ($000) $37,164 (-21.6%) Shares 48,100 (-21.7%) Est. Cost $694.88 Unrealized +10.7%

ISRG INTUITIVE SURGICAL INC 2.1%

Value ($000) $16,986 (-37.5%) Shares 36,846 (-23.2%) Est. Cost $338.40 Unrealized +54.0%

AXSM AXSOME THERAPEUTICS INC 1.3%

Value ($000) $10,783 (-48.6%) Shares 63,800 (-44.4%) Est. Cost $93.19 Unrealized +93.4%

EHC ENCOMPASS HEALTH CORP 0.7%

Value ($000) $5,442 (-64.9%) Shares 56,263 (-61.5%) Est. Cost $106.05 Unrealized -3.0%

ABBV ABBVIE INC 1.9%

Value ($000) $15,567 (-38.4%) Shares 71,575 (-35.3%) Est. Cost $145.15 Unrealized +53.3%

CI THE CIGNA GROUP 0.3%

Value ($000) $2,134 (-79.9%) Shares 8,000 (-79.3%) Est. Cost $297.62 Unrealized -5.7%

NUVL NUVALENT INC 1.0%

Value ($000) $8,319 (-49.4%) Shares 81,200 (-50.3%) Est. Cost $79.77 Unrealized +29.9%

PRCT PROCEPT BIOROBOTICS CORP 1.5%

Value ($000) $11,880 (-38.2%) Shares 475,000 (-22.3%) Est. Cost $39.63 Unrealized -25.4%

KURA KURA ONCOLOGY IN 0.3%

Value ($000) $2,207 (-75.6%) Shares 271,500 (-68.9%) Est. Cost $10.76 Unrealized -20.0%

ALNY ALNYLAM PHARMACEUTICALS INC 1.4%

Value ($000) $11,403 (-37.2%) Shares 34,465 (-24.5%) Est. Cost $290.57 Unrealized +21.6%

AMGN AMGEN INC 0.7%

Value ($000) $5,348 (-54.6%) Shares 15,200 (-57.8%) Est. Cost $315.95 Unrealized +10.7%

MCK MCKESSON CORP 1.8%

Value ($000) $14,581 (-30.6%) Shares 16,850 (-34.2%) Est. Cost $389.11 Unrealized +125.0%

UNH UNITED HEALTH GROUP INC 1.5%

Value ($000) $12,312 (-32.1%) Shares 45,500 (-17.1%) Est. Cost $371.28 Unrealized -16.9%

IONS IONIS PHARMACEUTICALS INC 0.9%

Value ($000) $6,976 (-44.4%) Shares 92,900 (-41.4%) Est. Cost $41.90 Unrealized +95.2%

NRIX NURIX THERAPEUTICS INC 0.6%

Value ($000) $4,859 (-52.3%) Shares 313,500 (-41.7%) Est. Cost $14.60 Unrealized +18.8%

BTSG BRIGHTSPRING HEALTH SVCS INC 0.3%

Value ($000) $2,131 (-71.3%) Shares 50,000 (-74.7%) Est. Cost $30.42 Unrealized +29.6%

THC TENET HEALTHCARE CORP 1.3%

Value ($000) $10,190 (-33.0%) Shares 54,000 (-29.4%) Est. Cost $101.78 Unrealized +102.6%

COR CENCORA INC 2.0%

Value ($000) $16,453 (-23.1%) Shares 52,375 (-17.4%) Est. Cost $221.18 Unrealized +59.7%

XENE XENON PHARMACEUTICALS INC 0.2%

Value ($000) $1,628 (-73.9%) Shares 28,000 (-79.9%) Est. Cost $39.25 Unrealized +7.0%

NBIX NEUROCRINE BIOSCIENCES INC 1.6%

Value ($000) $13,285 (-25.4%) Shares 100,841 (-19.6%) Est. Cost $115.00 Unrealized +16.8%

STOK STOKE THERAPEUTICS INC 0.3%

Value ($000) $2,702 (-60.6%) Shares 83,000 (-61.6%) Est. Cost $17.13 Unrealized +85.8%

GPCR STRUCTURE THERAPEUTICS INC 0.8%

Value ($000) $6,174 (-39.9%) Shares 128,100 (-13.2%) Est. Cost $21.22 Unrealized —

EW EDWARDS LIFESCIENCES CORP 1.6%

Value ($000) $13,053 (-20.9%) Shares 163,000 (-15.8%) Est. Cost $77.91 Unrealized +5.2%

DNTH DIANTHUS THERAPEUTICS INC 0.8%

Value ($000) $6,850 (+68.5%) Shares 81,627 (-17.2%) Est. Cost $26.81 Unrealized +77.5%

IMCR IMMUNOCORE HLDGS PLC 0.3%

Value ($000) $2,585 (-51.4%) Shares 85,724 (-44.1%) Est. Cost $34.99 Unrealized —

VCEL VERICEL CORP 0.3%

Value ($000) $2,252 (-46.6%) Shares 70,000 (-40.2%) Est. Cost $38.73 Unrealized -4.1%

KRYS KRYSTAL BIOTECH INC 0.5%

Value ($000) $4,307 (-30.1%) Shares 16,675 (-33.3%) Est. Cost $181.98 Unrealized +49.7%

LIVN LIVANOVA PLC 1.2%

Value ($000) $9,852 (-15.7%) Shares 155,000 (-18.4%) Est. Cost $52.71 Unrealized +23.6%

PNTG PENNANT GROUP INC 1.0%

Value ($000) $8,394 (-16.6%) Shares 275,399 (-22.9%) Est. Cost $26.60 Unrealized +12.6%

SNDX SYNDAX PHARMACEUTICALS INC 1.1%

Value ($000) $8,859 (-13.4%) Shares 379,250 (-22.1%) Est. Cost $16.47 Unrealized +26.0%

BMRN BIOMARIN PHARMACEUTICAL INC 1.4%

Value ($000) $11,693 (-8.5%) Shares 207,000 (-3.7%) Est. Cost $78.13 Unrealized -24.9%

MLTX MOONLAKE IMMUNOTHERAPEUTICS 0.6%

Value ($000) $4,464 (-6.9%) Shares 239,500 (-34.2%) Est. Cost $33.61 Unrealized -52.2%

RLAY RELAY THERAPEUTICS INC 0.4%

Value ($000) $3,582 (-8.0%) Shares 360,000 (-21.7%) Est. Cost $10.56 Unrealized -21.4%

MIRM MIRUM PHARMACEUTICALS INC 1.1%

Value ($000) $8,555 (+1.9%) Shares 92,605 (-12.8%) Est. Cost $48.12 Unrealized +100.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
COO	COOPER COS INC	50,000 (-84.7%)	$3,575 (-86.7%)	0.4%	$83.47	-1.6%	COM	216648501
MDT	MEDTRONIC PLC	90,000 (-69.6%)	$7,799 (-72.6%)	1.0%	$85.29	+16.7%	SHS	G5960L103
DHR	DANAHER CORPORATION	18,052 (-81.8%)	$3,423 (-84.9%)	0.4%	$212.32	+5.8%	COM	235851102
GKOS	GLAUKOS CORP	84,000 (-60.0%)	$9,043 (-61.9%)	1.1%	$129.46	-10.3%	COM	377322102
PODD	INSULET CORP	14,000 (-77.0%)	$2,938 (-83.1%)	0.4%	$231.73	+14.1%	COM	45784P101
LLY	LILLY ELI & CO	33,715 (-20.1%)	$31,010 (-31.7%)	3.8%	$528.85	+98.0%	COM	532457108
ALGN	ALIGN TECHNOLOGY INC	7,500 (-92.4%)	$1,286 (-91.7%)	0.2%	$204.86	-14.7%	COM	016255101
DOCS	DOXIMITY INC	183,808 (-50.7%)	$4,283 (-74.1%)	0.5%	$58.91	-40.6%	CL A	26622P107
REGN	REGENERON PHARMACEUTICALS	48,100 (-21.7%)	$37,164 (-21.6%)	4.6%	$694.88	+10.7%	COM	75886F107
ISRG	INTUITIVE SURGICAL INC	36,846 (-23.2%)	$16,986 (-37.5%)	2.1%	$338.40	+54.0%	COM NEW	46120E602
AXSM	AXSOME THERAPEUTICS INC	63,800 (-44.4%)	$10,783 (-48.6%)	1.3%	$93.19	+93.4%	COM	05464T104
EHC	ENCOMPASS HEALTH CORP	56,263 (-61.5%)	$5,442 (-64.9%)	0.7%	$106.05	-3.0%	COM	29261A100
ABBV	ABBVIE INC	71,575 (-35.3%)	$15,567 (-38.4%)	1.9%	$145.15	+53.3%	COM	00287Y109
CI	THE CIGNA GROUP	8,000 (-79.3%)	$2,134 (-79.9%)	0.3%	$297.62	-5.7%	COM	125523100
NUVL	NUVALENT INC	81,200 (-50.3%)	$8,319 (-49.4%)	1.0%	$79.77	+29.9%	COM	670703107
PRCT	PROCEPT BIOROBOTICS CORP	475,000 (-22.3%)	$11,880 (-38.2%)	1.5%	$39.63	-25.4%	COM	74276L105
KURA	KURA ONCOLOGY IN	271,500 (-68.9%)	$2,207 (-75.6%)	0.3%	$10.76	-20.0%	COM	50127T109
ALNY	ALNYLAM PHARMACEUTICALS INC	34,465 (-24.5%)	$11,403 (-37.2%)	1.4%	$290.57	+21.6%	COM	02043Q107
AMGN	AMGEN INC	15,200 (-57.8%)	$5,348 (-54.6%)	0.7%	$315.95	+10.7%	COM	031162100
MCK	MCKESSON CORP	16,850 (-34.2%)	$14,581 (-30.6%)	1.8%	$389.11	+125.0%	COM	58155Q103
UNH	UNITED HEALTH GROUP INC	45,500 (-17.1%)	$12,312 (-32.1%)	1.5%	$371.28	-16.9%	COM	91324P102
IONS	IONIS PHARMACEUTICALS INC	92,900 (-41.4%)	$6,976 (-44.4%)	0.9%	$41.90	+95.2%	COM	462222100
NRIX	NURIX THERAPEUTICS INC	313,500 (-41.7%)	$4,859 (-52.3%)	0.6%	$14.60	+18.8%	COM	67080M103
BTSG	BRIGHTSPRING HEALTH SVCS INC	50,000 (-74.7%)	$2,131 (-71.3%)	0.3%	$30.42	+29.6%	COM	10950A106
THC	TENET HEALTHCARE CORP	54,000 (-29.4%)	$10,190 (-33.0%)	1.3%	$101.78	+102.6%	COM NEW	88033G407
COR	CENCORA INC	52,375 (-17.4%)	$16,453 (-23.1%)	2.0%	$221.18	+59.7%	COM	03073E105
XENE	XENON PHARMACEUTICALS INC	28,000 (-79.9%)	$1,628 (-73.9%)	0.2%	$39.25	+7.0%	COM	98420N105
NBIX	NEUROCRINE BIOSCIENCES INC	100,841 (-19.6%)	$13,285 (-25.4%)	1.6%	$115.00	+16.8%	COM	64125C109
STOK	STOKE THERAPEUTICS INC	83,000 (-61.6%)	$2,702 (-60.6%)	0.3%	$17.13	+85.8%	COM	86150R107
GPCR	STRUCTURE THERAPEUTICS INC	128,100 (-13.2%)	$6,174 (-39.9%)	0.8%	$21.22	—	SPONSORED ADS	86366E106
EW	EDWARDS LIFESCIENCES CORP	163,000 (-15.8%)	$13,053 (-20.9%)	1.6%	$77.91	+5.2%	COM	28176E108
DNTH	DIANTHUS THERAPEUTICS INC	81,627 (-17.2%)	$6,850 (+68.5%)	0.8%	$26.81	+77.5%	COM	252828108
IMCR	IMMUNOCORE HLDGS PLC	85,724 (-44.1%)	$2,585 (-51.4%)	0.3%	$34.99	—	ADS	45258D105
VCEL	VERICEL CORP	70,000 (-40.2%)	$2,252 (-46.6%)	0.3%	$38.73	-4.1%	COM	92346J108
KRYS	KRYSTAL BIOTECH INC	16,675 (-33.3%)	$4,307 (-30.1%)	0.5%	$181.98	+49.7%	COM	501147102
LIVN	LIVANOVA PLC	155,000 (-18.4%)	$9,852 (-15.7%)	1.2%	$52.71	+23.6%	SHS	G5509L101
PNTG	PENNANT GROUP INC	275,399 (-22.9%)	$8,394 (-16.6%)	1.0%	$26.60	+12.6%	COM	70805E109
SNDX	SYNDAX PHARMACEUTICALS INC	379,250 (-22.1%)	$8,859 (-13.4%)	1.1%	$16.47	+26.0%	COM	87164F105
BMRN	BIOMARIN PHARMACEUTICAL INC	207,000 (-3.7%)	$11,693 (-8.5%)	1.4%	$78.13	-24.9%	COM	09061G101
MLTX	MOONLAKE IMMUNOTHERAPEUTICS	239,500 (-34.2%)	$4,464 (-6.9%)	0.6%	$33.61	-52.2%	CLASS A ORD	61559X104
RLAY	RELAY THERAPEUTICS INC	360,000 (-21.7%)	$3,582 (-8.0%)	0.4%	$10.56	-21.4%	COM	75943R102
MIRM	MIRUM PHARMACEUTICALS INC	92,605 (-12.8%)	$8,555 (+1.9%)	1.1%	$48.12	+100.7%	COM	604749101

Unchanged Positions (4)

CVS CVS HEALTH CORP 3.0%

Value ($000) $24,167 Shares 336,500 Est. Cost $60.44 Unrealized +29.0%

ALKS ALKERMES PLC 0.6%

Value ($000) $4,712 Shares 133,250 Est. Cost $28.57 Unrealized +13.2%

ARWR ARROWHEAD PHARMACEUTICALS IN 1.1%

Value ($000) $9,060 Shares 144,500 Est. Cost $49.01 Unrealized +34.1%

ASND ASCENDIS PHARMA A/S 0.4%

Value ($000) $3,431 Shares 15,000 Est. Cost $213.24 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CVS	CVS HEALTH CORP	336,500	$24,167	3.0%	$60.44	+29.0%	COM	126650100
ALKS	ALKERMES PLC	133,250	$4,712	0.6%	$28.57	+13.2%	SHS	G01767105
ARWR	ARROWHEAD PHARMACEUTICALS IN	144,500	$9,060	1.1%	$49.01	+34.1%	COM	04280A100
ASND	ASCENDIS PHARMA A/S	15,000	$3,431	0.4%	$213.24	—	SPONSORED ADR	04351P101