Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ALNY	ALNYLAM PHARMACEUTICALS INC	480,000	$144M	2.7%	—	—	COM	02043Q107
MBX	MBX BIOSCIENCES INC	2,508,015	$138M	2.6%	—	—	COM	55287L101
JBIO	JADE BIOSCIENCES INC	2,857,405	$63.49M	1.2%	—	—	COM NEW	008064206
ACHV	ACHIEVE LIFE SCIENCE INC	4,951,856	$32.34M	0.6%	—	—	COM	004468500
MPLT	MAPLIGHT THERAPEUTICS INC	685,852	$24.58M	0.5%	—	—	COM	56565P103
KARD	KARDIGAN INC	900,000	$21.46M	0.4%	—	—	COM	485925101
EDIT	EDITAS MEDICINE INC	5,586,625	$18.1M	0.3%	—	—	COM	28106W103

Increased Positions (12)

SYRE SPYRE THERAPEUTICS INC 6.4%

Value $341M (+245.4%) Shares 3,840,778 (+96.2%) Est. Cost — Unrealized —

NUVL NUVALENT INC 13.7%

Value $732M (+34.1%) Shares 5,924,433 (+11.3%) Est. Cost — Unrealized —

EWTX EDGEWISE THERAPEUTICS INC 7.8%

Value $415M (+78.9%) Shares 10,215,455 (+38.7%) Est. Cost — Unrealized —

GMAB GENMAB A/S 6.8%

Value $361M (+68.8%) Shares 13,133,131 (+64.8%) Est. Cost — Unrealized —

TNGX TANGO THERAPEUTICS INC 3.7%

Value $199M (+136.9%) Shares 6,357,523 (+58.6%) Est. Cost — Unrealized —

APGE APOGEE THERAPEUTICS INC 3.9%

Value $209M (+84.4%) Shares 1,576,385 (+16.9%) Est. Cost — Unrealized —

INSM INSMED INC 2.6%

Value $141M (-31.1%) Shares 1,325,977 (+5.7%) Est. Cost — Unrealized —

VRDN VIRIDIAN THERAPEUTICS INC 2.3%

Value $124M (+100.5%) Shares 6,723,788 (+113.5%) Est. Cost — Unrealized —

ASMB ASSEMBLY BIOSCIENCES INC 0.8%

Value $42.7M (+131.3%) Shares 1,553,748 (+133.6%) Est. Cost — Unrealized —

BLTE BELITE BIO INC 3.6%

Value $190M (+6.8%) Shares 1,232,877 (+10.6%) Est. Cost — Unrealized —

OLMA OLEMA PHARMACEUTICALS INC 2.0%

Value $108M (-9.3%) Shares 8,670,576 (+8.1%) Est. Cost — Unrealized —

TARS TARSUS PHARMACEUTICALS INC 3.3%

Value $175M (-2.8%) Shares 2,775,649 (+8.3%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SYRE	SPYRE THERAPEUTICS INC	3,840,778 (+96.2%)	$341M (+245.4%)	6.4%	—	—	COM NEW	00773J202
NUVL	NUVALENT INC	5,924,433 (+11.3%)	$732M (+34.1%)	13.7%	—	—	COM	670703107
EWTX	EDGEWISE THERAPEUTICS INC	10,215,455 (+38.7%)	$415M (+78.9%)	7.8%	—	—	COM	28036F105
GMAB	GENMAB A/S	13,133,131 (+64.8%)	$361M (+68.8%)	6.8%	—	—	SPONSORED ADS	372303206
TNGX	TANGO THERAPEUTICS INC	6,357,523 (+58.6%)	$199M (+136.9%)	3.7%	—	—	COM	87583X109
APGE	APOGEE THERAPEUTICS INC	1,576,385 (+16.9%)	$209M (+84.4%)	3.9%	—	—	COM	03770N101
INSM	INSMED INC	1,325,977 (+5.7%)	$141M (-31.1%)	2.6%	—	—	COM PAR $.01	457669307
VRDN	VIRIDIAN THERAPEUTICS INC	6,723,788 (+113.5%)	$124M (+100.5%)	2.3%	—	—	COM	92790C104
ASMB	ASSEMBLY BIOSCIENCES INC	1,553,748 (+133.6%)	$42.7M (+131.3%)	0.8%	—	—	COM NEW	045396207
BLTE	BELITE BIO INC	1,232,877 (+10.6%)	$190M (+6.8%)	3.6%	—	—	SPONSORED ADS	07782B104
OLMA	OLEMA PHARMACEUTICALS INC	8,670,576 (+8.1%)	$108M (-9.3%)	2.0%	—	—	COM	68062P106
TARS	TARSUS PHARMACEUTICALS INC	2,775,649 (+8.3%)	$175M (-2.8%)	3.3%	—	—	COM	87650L103

Exited Positions (14)

ACLX ARCELLX INC 12.4%

Value $663M Shares 5,774,016 Est. Cost — Unrealized —

CNTA CENTESSA PHARMACEUTICALS PLC 2.7%

Value $142M Shares 3,574,048 Est. Cost — Unrealized —

TERN TERNS PHARMACEUTICALS INC 2.2%

Value $117M Shares 2,216,499 Est. Cost — Unrealized —

CYTK CYTOKINETICS INC 1.8%

Value $97.6M Shares 1,480,857 Est. Cost — Unrealized —

ABVX ABIVAX SA 1.6%

Value $86.01M Shares 772,473 Est. Cost — Unrealized —

MAZE MAZE THERAPEUTICS INC 1.5%

Value $81.92M Shares 2,744,399 Est. Cost — Unrealized —

SRRK SCHOLAR ROCK HLDG CORP 1.1%

Value $60.27M Shares 1,226,080 Est. Cost — Unrealized —

MIRM MIRUM PHARMACEUTICALS INC 1.1%

Value $57.74M Shares 625,000 Est. Cost — Unrealized —

MANE VERADERMICS INC 0.6%

Value $33.15M Shares 525,000 Est. Cost — Unrealized —

URGN UROGEN PHARMA LTD 0.6%

Value $30.64M Shares 1,703,949 Est. Cost — Unrealized —

GPCR STRUCTURE THERAPEUTICS INC 0.5%

Value $26.28M Shares 545,287 Est. Cost — Unrealized —

ORIC ORIC PHARMACEUTICALS INC 0.4%

Value $21.55M Shares 1,701,217 Est. Cost — Unrealized —

BBOT BRIDGEBIO ONCOLOGY THERAPEUT 0.1%

Value $7.771M Shares 868,213 Est. Cost — Unrealized —

KLRS KALARIS THERAPEUTICS INC 0.1%

Value $4.039M Shares 700,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ACLX	ARCELLX INC	5,774,016	$663M	12.4%	—	—	—	03940C100
CNTA	CENTESSA PHARMACEUTICALS PLC	3,574,048	$142M	2.7%	—	—	—	152309100
TERN	TERNS PHARMACEUTICALS INC	2,216,499	$117M	2.2%	—	—	—	880881107
CYTK	CYTOKINETICS INC	1,480,857	$97.6M	1.8%	—	—	—	23282W605
ABVX	ABIVAX SA	772,473	$86.01M	1.6%	—	—	—	00370M103
MAZE	MAZE THERAPEUTICS INC	2,744,399	$81.92M	1.5%	—	—	—	578784100
SRRK	SCHOLAR ROCK HLDG CORP	1,226,080	$60.27M	1.1%	—	—	—	80706P103
MIRM	MIRUM PHARMACEUTICALS INC	625,000	$57.74M	1.1%	—	—	—	604749101
MANE	VERADERMICS INC	525,000	$33.15M	0.6%	—	—	—	922967104
URGN	UROGEN PHARMA LTD	1,703,949	$30.64M	0.6%	—	—	—	M96088105
GPCR	STRUCTURE THERAPEUTICS INC	545,287	$26.28M	0.5%	—	—	—	86366E106
ORIC	ORIC PHARMACEUTICALS INC	1,701,217	$21.55M	0.4%	—	—	—	68622P109
BBOT	BRIDGEBIO ONCOLOGY THERAPEUT	868,213	$7.771M	0.1%	—	—	—	107924102
KLRS	KALARIS THERAPEUTICS INC	700,000	$4.039M	0.1%	—	—	—	482929106

Decreased Positions (7)

RVMD REVOLUTION MEDICINES INC 22.3%

Value $1.191B (+84.1%) Shares 6,361,323 (-4.4%) Est. Cost — Unrealized —

PCVX VAXCYTE INC 2.3%

Value $124M (-55.6%) Shares 2,127,852 (-55.6%) Est. Cost — Unrealized —

ORKA ORUKA THERAPEUTICS INC 3.8%

Value $204M (+79.3%) Shares 2,144,526 (-7.6%) Est. Cost — Unrealized —

TYRA TYRA BIOSCIENCES INC 1.1%

Value $58.41M (-25.8%) Shares 1,828,607 (-11.0%) Est. Cost — Unrealized —

LXEO LEXEO THERAPEUTICS INC 0.4%

Value $19.44M (-45.2%) Shares 4,175,382 (-32.5%) Est. Cost — Unrealized —

ERAS ERASCA INC 3.3%

Value $175M (+4.0%) Shares 9,550,000 (-8.1%) Est. Cost — Unrealized —

EYPT EYEPOINT INC 0.8%

Value $41.33M (+2.0%) Shares 2,890,397 (-8.0%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RVMD	REVOLUTION MEDICINES INC	6,361,323 (-4.4%)	$1.191B (+84.1%)	22.3%	—	—	COM	76155X100
PCVX	VAXCYTE INC	2,127,852 (-55.6%)	$124M (-55.6%)	2.3%	—	—	COM	92243G108
ORKA	ORUKA THERAPEUTICS INC	2,144,526 (-7.6%)	$204M (+79.3%)	3.8%	—	—	COM	687604108
TYRA	TYRA BIOSCIENCES INC	1,828,607 (-11.0%)	$58.41M (-25.8%)	1.1%	—	—	COM	90240B106
LXEO	LEXEO THERAPEUTICS INC	4,175,382 (-32.5%)	$19.44M (-45.2%)	0.4%	—	—	COM	52886X107
ERAS	ERASCA INC	9,550,000 (-8.1%)	$175M (+4.0%)	3.3%	—	—	COM	29479A108
EYPT	EYEPOINT INC	2,890,397 (-8.0%)	$41.33M (+2.0%)	0.8%	—	—	COM NEW	30233G209

Unchanged Positions (2)

IVA INVENTIVA SA 0.3%

Value $15.12M Shares 4,000,000 Est. Cost — Unrealized —

VOR VOR BIOPHARMA INC 0.6%

Value $32.22M Shares 1,750,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IVA	INVENTIVA SA	4,000,000	$15.12M	0.3%	—	—	ADS	46124U107
VOR	VOR BIOPHARMA INC	1,750,000	$32.22M	0.6%	—	—	COM NEW	929033207