Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BEAM	BEAM THERAPEUTICS INC	1,446,375	$34.47M	2.0%	$29.18	0.0%	COM	07373V105
VIR	VIR BIOTECHNOLOGY INC	2,744,714	$24.59M	1.4%	$7.20	0.0%	COM	92764N102
DBVT	DBV TECHNOLOGIES S A	1,012,866	$21.16M	1.2%	$20.89	—	SPONSORED ADS	23306J309
TERN	TERNS PHARMACEUTICALS INC	200,000	$10.54M	0.6%	$28.74	+30.3%	CALL	880881107
HLXC	HELIX ACQUISITION CORP III	1,000,000	$10.3M	0.6%	$10.30	—	USD CL A ORD SHS	G4444S107
MLTX	MOONLAKE IMMUNOTHERAPEUTICS	457,137	$8.521M	0.5%	$16.05	0.0%	CLASS A ORD	61559X104
MPLT	MAPLIGHT THERAPEUTICS INC	374,909	$7.622M	0.4%	$17.62	0.0%	COM	56565P103
GLTO	DAMORA THERAPEUTICS INC	279,000	$7.226M	0.4%	$25.80	0.0%	COM NEW	36322Q206
PRME	PRIME MEDICINE INC	1,973,282	$6.867M	0.4%	$3.80	0.0%	COM	74168J101
KRRO	KORRO BIO INC	540,054	$6.113M	0.4%	$10.79	0.0%	COM	500946108
INSM	INSMED INC	35,392	$5.787M	0.3%	$159.03	0.0%	COM PAR $.01	457669307
—	BRIDGEBIO PHARMA INC	45,000	$4.943M	0.3%	$109.84	—	NOTE 2.250% 2/0	10806XAD4
BHAVU	BHAV ACQUISITION CORP	495,000	$4.935M	0.3%	$9.97	—	UNIT 03/18/2031	G1R59W127
ABVX	ABIVAX SA	44,000	$4.899M	0.3%	$13.59	—	CALL	00370M103
—	BRIDGEBIO PHARMA INC	30,000	$4.852M	0.3%	$161.73	—	NOTE 1.750% 3/0	10806XAJ1
LLY	ELI LILLY & CO	5,060	$4.654M	0.3%	$1047.09	0.0%	COM	532457108
DNTH	DIANTHUS THERAPEUTICS INC	55,000	$4.616M	0.3%	$47.58	0.0%	COM	252828108
—	BRIDGEBIO PHARMA INC	20,000	$3.564M	0.2%	$178.20	—	NOTE 2.500% 3/1	10806XAB8
ONC	BEONE MEDICINES LTD	11,701	$3.475M	0.2%	$296.97	—	SPONSORED ADS	07725L102
AVBP	ARRIVENT BIOPHARMA INC	141,814	$3.272M	0.2%	$22.06	0.0%	COM	04272N102
ATAI	ATAIBECKLEY INC	913,242	$3.233M	0.2%	$3.85	0.0%	COM SHS	04650F101
CAPR	CAPRICOR THERAPEUTICS INC	90,593	$2.754M	0.2%	$24.88	0.0%	COM NEW	14070B309
CNTB	CONNECT BIOPHARMA HLDGS LTD	742,400	$1.945M	0.1%	$2.48	0.0%	SHS	G23549101
XBI	SPDR SERIES TRUST	15,000	$1.916M	0.1%	—	—	PUT	78464A870
FOLD	AMICUS THERAPEUTIC	105,000	$1.518M	0.1%	$14.31	0.0%	COM	03152W109
UNH	UNITEDHEALTH GROUP INC	5,501	$1.489M	0.1%	$308.69	0.0%	COM	91324P102
SXT	SENSIENT TECHNOLOGIES CORP	15,000	$1.297M	0.1%	$95.69	0.0%	COM	81725T100
MSLE	SATELLOS BIOSCIENCE INC	222,555	$1.253M	0.1%	$5.63	—	COM	80401L803
NVO	NOVO-NORDISK A S	33,000	$1.213M	0.1%	$36.75	—	ADR	670100205
PMN	PROMIS NEUROSCIENCES INC	95,350	$1.211M	0.1%	$12.16	0.0%	COM SHS	74346M505
LXRX	LEXICON PHARMACEUTICALS INC	750,000	$1.17M	0.1%	$1.35	0.0%	COM NEW	528872302
SDGR	SCHRODINGER INC	101,500	$1.153M	0.1%	$14.81	0.0%	COM	80810D103
KPTI	KARYOPHARM THERAPEUTICS INC	205,200	$1.143M	0.1%	$6.94	+9.9%	CALL	48576U205
DAWN	DAY ONE BIOPHARMACEUTICALS I	49,923	$1.07M	0.1%	$11.02	0.0%	COM	23954D109
—	ARROWHEAD PHARMACEUTICALS IN	10,000	$1.024M	0.1%	$102.40	—	NOTE 1/1	04280AAC4
ANL	ADLAI NORTYE LTD	117,909	$816K	0.0%	$6.92	—	SPONSORED ADS	00704R109
RNA	ATRIUM THERAPEUTICS INC	57,688	$771K	0.0%	$13.36	—	COM	04965N104
ITGR	INTEGER HLDGS CORP	8,750	$770K	0.0%	$84.99	0.0%	COM	45826H109
MIRM	MIRUM PHARMACEUTICALS INC	6,200	$573K	0.0%	$96.57	0.0%	COM	604749101
PRLD	PRELUDE THERAPEUTICS INC	152,825	$523K	0.0%	$2.30	0.0%	COM	74065P101
NVO	NOVO-NORDISK A S	13,000	$478K	0.0%	$36.75	—	CALL	670100205
TRDA	ENTRADA THERAPEUTICS INC	30,500	$385K	0.0%	$12.62	—	COM	29384C108
VSTM	VERASTEM INC	71,100	$377K	0.0%	$6.48	0.0%	COM NEW	92337C203
MLTX	MOONLAKE IMMUNOTHERAPEUTICS	20,000	$373K	0.0%	$16.05	0.0%	CALL	61559X104
LEGN	LEGEND BIOTECH CORP	20,000	$362K	0.0%	$18.09	—	SPONSORED ADS	52490G102
SRZN	SURROZEN INC	12,000	$350K	0.0%	$22.23	0.0%	COM NEW	86889P208
BCYC	BICYCLE THERAPEUTICS PLC	71,298	$331K	0.0%	$4.64	—	SPONSORED ADS	088786108
NBIX	NEUROCRINE BIOSCIENCES INC	2,500	$329K	0.0%	$134.33	0.0%	COM	64125C109
CRBP	CORBUS PHARMACEUTICALS HLDGS	35,000	$329K	0.0%	$11.68	-30.6%	CALL	21833P301
WVE	WAVE LIFE SCIENCES LTD	44,900	$326K	0.0%	$13.75	0.0%	SHS	Y95308105
CORT	CORCEPT THERAPEUTICS INC	8,000	$322K	0.0%	$38.80	0.0%	COM	218352102
UPB	UPSTREAM BIO INC	35,000	$315K	0.0%	$23.68	0.0%	COM	91678A107
RARE	ULTRAGENYX PHARMACEUTICAL IN	13,400	$281K	0.0%	$23.36	0.0%	COM	90400D108
PANW	PALO ALTO NETWORKS INC	1,600	$257K	0.0%	$172.15	0.0%	COM	697435105
NTLA	INTELLIA THERAPEUTICS INC	19,517	$250K	0.0%	$12.40	0.0%	COM	45826J105
CRWD	CROWDSTRIKE HLDGS INC	640	$250K	0.0%	$431.12	0.0%	CL A	22788C105
RBRK	RUBRIK INC.	4,900	$240K	0.0%	$60.64	0.0%	CL A	781154109
RPRX	ROYALTY PHARMA PLC	5,000	$240K	0.0%	$42.28	0.0%	SHS CLASS A	G7709Q104
LGVN	LONGEVERON INC	200,000	$208K	0.0%	$0.56	0.0%	CL A NEW	54303L203
ANAB	ANAPTYSBIO INC	3,698	$205K	0.0%	$49.37	0.0%	COM	032724106
CEPS	CANTOR EQUITY PARTNERS VI IN	20,000	$202K	0.0%	$10.10	—	CL A ORD SHS	G1828R101
NUVB	NUVATION BIO INC	43,500	$187K	0.0%	$6.19	0.0%	COM CL A	67080N101
BNTC	BENITEC BIOPHARMA INC	17,500	$186K	0.0%	$11.78	0.0%	COM NEW	08205P209
LPCN	LIPOCINE INC NEW	23,180	$185K	0.0%	$9.20	0.0%	COM NEW	53630X203
RLYB	RALLYBIO CORP	20,535	$184K	0.0%	$5.22	0.0%	COM	75120L209
QCLS	Q/C TECHNOLOGIES INC	50,000	$173K	0.0%	$4.23	0.0%	COM	62856X300
ERAS	ERASCA INC	10,000	$162K	0.0%	$10.02	0.0%	COM	29479A108
COYA	COYA THERAPEUTICS INC	40,900	$161K	0.0%	$4.79	0.0%	COMMON STOCK	22407B108
PSNL	PERSONALIS INC	25,000	$159K	0.0%	$8.94	0.0%	COM	71535D106
SIBN	SI BONE INC	12,580	$159K	0.0%	$16.92	0.0%	COM	825704109
TOI	THE ONCOLOGY INSTITUTE INC	50,000	$154K	0.0%	$3.09	0.0%	COM	68236X100
STIM	NEURONETICS INC	100,000	$145K	0.0%	$1.72	0.0%	COM	64131A105
ARDX	ARDELYX INC	23,900	$143K	0.0%	$7.08	0.0%	COM	039697107
IFRX	INFLARX NV	158,271	$142K	0.0%	$0.95	0.0%	COM	N44821101
ARCT	ARCTURUS THERAPEUTICS HLDGS	15,000	$116K	0.0%	$7.36	0.0%	COM	03969T109
MGNX	MACROGENICS INC	40,000	$116K	0.0%	$1.76	0.0%	COM	556099109
CCCC	C4 THERAPEUTICS INC	43,000	$113K	0.0%	$2.09	0.0%	COM STK	12529R107
DSGN	DESIGN THERAPEUTICS INC	10,000	$106K	0.0%	$9.99	0.0%	COM	25056L103
ESPR	ESPERION THERAPEUTICS INC NE	21,400	$58,636	0.0%	$3.42	0.0%	COM	29664W105
ANTX	AN2 THERAPEUTICS INC	13,861	$47,405	0.0%	$1.13	0.0%	COM	037326105
AQST	AQUESTIVE THERAPEUTICS INC	10,000	$41,500	0.0%	$4.02	0.0%	COM	03843E104
IMUX	IMMUNIC INC	30,000	$0	0.0%	$0.72	0.0%	COM	4525EP101

Increased Positions (99)

DNLI DENALI THERAPEUTICS INC 2.1%

Value $35.93M (+4076.0%) Shares 1,871,455 (+3490.9%) Est. Cost $19.54 Unrealized +0.4%

CRNX CRINETICS PHARMACEUTICALS IN 2.4%

Value $41.38M (+187.3%) Shares 1,139,331 (+268.3%) Est. Cost $45.90 Unrealized +7.2%

TERN TERNS PHARMACEUTICALS INC 2.8%

Value $48.22M (+120.4%) Shares 914,699 (+68.9%) Est. Cost $28.74 Unrealized +30.3%

ABVX ABIVAX SA 9.1%

Value $155M (-12.6%) Shares 1,394,019 (+5.8%) Est. Cost $13.59 Unrealized —

INSP INSPIRE MED SYS INC 1.2%

Value $20.9M (+1410.7%) Shares 405,197 (+2601.3%) Est. Cost $78.19 Unrealized -1.0%

SRRK SCHOLAR ROCK HLDG CORP 1.2%

Value $20.02M (+553.1%) Shares 407,273 (+485.3%) Est. Cost $44.05 Unrealized +3.2%

SYRE SPYRE THERAPEUTICS INC 1.0%

Value $17.07M (+1429.8%) Shares 338,323 (+893.6%) Est. Cost $32.81 Unrealized +5.2%

AVR ANTERIS TECHNOLOGIES GLOBAL 1.2%

Value $21.03M (+240.2%) Shares 3,789,132 (+205.9%) Est. Cost $5.33 Unrealized +4.8%

RYTM RHYTHM PHARMACEUTICALS INC 1.1%

Value $18.39M (+234.6%) Shares 211,450 (+311.8%) Est. Cost $92.69 Unrealized +10.9%

ELVN ENLIVEN THERAPEUTICS INC 0.8%

Value $12.92M (+2696.1%) Shares 329,540 (+998.5%) Est. Cost $25.09 Unrealized +2.1%

STRO SUTRO BIOPHARMA INC 0.8%

Value $13.06M (+1583.3%) Shares 524,441 (+681.8%) Est. Cost $14.37 Unrealized +5.0%

SNY SANOFI SA 0.9%

Value $15.27M (+396.4%) Shares 316,939 (+399.3%) Est. Cost $48.01 Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 2.9%

Value $49.39M (+32.4%) Shares 75,940 (+38.9%) Est. Cost $647.31 Unrealized —

NKTR NEKTAR THERAPEUTICS 0.7%

Value $11.6M (+281.0%) Shares 161,252 (+123.9%) Est. Cost $39.38 Unrealized +22.7%

IRD OPUS GENETICS INC 0.5%

Value $8.413M (+10363.9%) Shares 1,849,004 (+4522.5%) Est. Cost $2.73 Unrealized +0.6%

CYTK CYTOKINETICS INC 2.5%

Value $41.69M (+21.5%) Shares 632,556 (+17.1%) Est. Cost $54.95 Unrealized +17.3%

OKUR ONKURE THERAPEUTICS INC 0.6%

Value $10.08M (+242.8%) Shares 2,434,941 (+140.1%) Est. Cost $2.84 Unrealized -3.8%

SPRY ARS PHARMACEUTICALS INC 0.6%

Value $10.93M (+153.9%) Shares 1,361,536 (+268.4%) Est. Cost $10.30 Unrealized -0.6%

VKTX VIKING THERAPEUTICS INC 0.4%

Value $7.41M (+695.0%) Shares 227,717 (+759.5%) Est. Cost $31.38 Unrealized -0.1%

LXEO LEXEO THERAPEUTICS INC 0.5%

Value $8.423M (-39.1%) Shares 1,467,350 (+5.3%) Est. Cost $5.37 Unrealized +40.3%

SRPT SAREPTA THERAPEUTICS INC 0.3%

Value $5.702M (+818.0%) Shares 262,058 (+807.8%) Est. Cost $24.26 Unrealized -16.6%

ZLAB ZAI LAB LTD 1.6%

Value $26.81M (+21.9%) Shares 1,425,367 (+14.3%) Est. Cost $22.50 Unrealized —

LONA LEONABIO INC 0.4%

Value $7.479M (+158.7%) Shares 727,481 (+84.8%) Est. Cost $5.06 Unrealized +11.2%

URGN UROGEN PHARMA LTD 0.4%

Value $7.11M (+142.2%) Shares 395,459 (+215.4%) Est. Cost $20.57 Unrealized +1.3%

XENE XENON PHARMACEUTICALS INC 0.8%

Value $13.31M (+45.6%) Shares 228,899 (+12.2%) Est. Cost $36.87 Unrealized +13.9%

VRDN VIRIDIAN THERAPEUTICS INC 0.4%

Value $5.954M (+147.9%) Shares 304,422 (+294.3%) Est. Cost $26.97 Unrealized +14.4%

IMVT IMMUNOVANT INC 3.9%

Value $66.55M (+5.5%) Shares 2,679,010 (+8.0%) Est. Cost $19.82 Unrealized +32.5%

ABOS ACUMEN PHARMACEUTICALS INC 0.3%

Value $5.089M (+170.6%) Shares 2,156,334 (+142.0%) Est. Cost $1.85 Unrealized +23.5%

PLRX PLIANT THERAPEUTICS INC 0.2%

Value $3.257M (+3516.8%) Shares 2,585,126 (+3402.0%) Est. Cost $1.25 Unrealized -0.6%

AMLX AMYLYX PHARMACEUTICALS INC 0.8%

Value $13.91M (+29.3%) Shares 1,000,604 (+12.4%) Est. Cost $4.95 Unrealized +182.6%

OVID OVID THERAPEUTICS INC 0.6%

Value $10.09M (+44.4%) Shares 4,544,113 (+6.0%) Est. Cost $1.54 Unrealized +3.4%

RLMD RELMADA THERAPEUTICS INC 0.2%

Value $3.145M (+2009.8%) Shares 451,918 (+1364.1%) Est. Cost $3.97 Unrealized +1.1%

LQDA LIQUIDIA CORPORATION 0.2%

Value $3.774M (+346.6%) Shares 100,000 (+308.2%) Est. Cost — Unrealized —

CATX PERSPECTIVE THERAPEUTICS INC 0.2%

Value $3.125M (+1093.6%) Shares 749,335 (+687.2%) Est. Cost $3.71 Unrealized +3.4%

TENX TENAX THERAPEUTICS INC 0.2%

Value $3.413M (+339.8%) Shares 213,462 (+235.2%) Est. Cost $11.25 Unrealized +20.0%

PEPG PEPGEN INC 0.2%

Value $2.846M (+1086.4%) Shares 1,607,638 (+4263.6%) Est. Cost $5.74 Unrealized +1.6%

APLS APELLIS PHARMACEUTICALS INC 0.2%

Value $2.917M (+480.5%) Shares 72,500 (+262.5%) Est. Cost $31.34 Unrealized -27.6%

DRUG BRIGHT MINDS BIOSCIENCES INC 0.1%

Value $2.474M (+805.6%) Shares 33,900 (+868.6%) Est. Cost $82.23 Unrealized +2.2%

ACLX ARCELLX INC 0.2%

Value $3.684M (+79.5%) Shares 32,084 (+1.9%) Est. Cost $69.95 Unrealized +1.9%

PRTA PROTHENA CORP PLC 0.9%

Value $15.37M (+10.4%) Shares 1,581,443 (+8.5%) Est. Cost $7.63 Unrealized +19.5%

SPRB SPRUCE BIOSCIENCES INC 0.2%

Value $3.83M (-24.2%) Shares 58,600 (+1.0%) Est. Cost $106.81 Unrealized -30.2%

QURE UNIQURE NV 0.1%

Value $1.635M (+127.7%) Shares 100,000 (+233.3%) Est. Cost $27.00 Unrealized -12.8%

WW WW INTL INC 0.0%

Value $793K (-52.5%) Shares 57,700 (+1.1%) Est. Cost $33.73 Unrealized -28.4%

ZURA ZURA BIO LTD 0.2%

Value $3.751M (+27.4%) Shares 630,403 (+12.2%) Est. Cost $3.47 Unrealized +69.5%

MNPR MONOPAR THERAPEUTICS INC 0.9%

Value $14.48M (-5.2%) Shares 264,278 (+13.0%) Est. Cost $50.66 Unrealized +23.9%

CRBP CORBUS PHARMACEUTICALS HLDGS 0.2%

Value $3.115M (+33.5%) Shares 331,781 (+15.7%) Est. Cost $11.68 Unrealized -30.6%

SLN SILENCE THERAPEUTICS PLC 0.1%

Value $907K (+531.1%) Shares 172,157 (+628.2%) Est. Cost $6.99 Unrealized —

JANX JANUX THERAPEUTICS INC 0.2%

Value $4.15M (+22.5%) Shares 298,546 (+21.6%) Est. Cost $24.57 Unrealized -44.4%

MLYS MINERALYS THERAPEUTICS INC 0.2%

Value $4.19M (-15.2%) Shares 154,686 (+13.5%) Est. Cost $25.11 Unrealized +24.9%

PALI PALISADE BIO INC 0.2%

Value $3.963M (-15.9%) Shares 2,264,845 (+13.0%) Est. Cost $1.91 Unrealized -6.4%

TEVA TEVA PHARMACEUTICAL INDS LTD 0.5%

Value $8.084M (+9.8%) Shares 268,391 (+13.7%) Est. Cost $16.77 Unrealized —

KROS KEROS THERAPEUTICS INC 0.1%

Value $1.074M (+179.9%) Shares 97,318 (+416.2%) Est. Cost $16.86 Unrealized +5.4%

BCRX BIOCRYST PHARMACEUTICALS INC 0.1%

Value $1M (+184.8%) Shares 105,000 (+133.3%) Est. Cost $7.10 Unrealized -1.4%

FWRD FORWARD AIR CORP 0.1%

Value $1.307M (+96.3%) Shares 78,241 (+193.8%) Est. Cost $25.87 Unrealized +6.7%

PHVS PHARVARIS N V 0.2%

Value $2.981M (+25.6%) Shares 105,528 (+23.4%) Est. Cost $22.01 Unrealized +21.5%

GOSS GOSSAMER BIO INC 0.0%

Value $94,454 (-85.7%) Shares 287,531 (+35.3%) Est. Cost $1.14 Unrealized +97.6%

ARWR ARROWHEAD PHARMACEUTICALS IN 0.3%

Value $4.408M (+14.1%) Shares 70,300 (+20.8%) Est. Cost $31.05 Unrealized +111.7%

REPL REPLIMUNE GROUP INC 0.0%

Value $765K (+214.8%) Shares 100,000 (+300.0%) Est. Cost $7.06 Unrealized +10.6%

VRTX VERTEX PHARMACEUTICALS INC 0.4%

Value $6.732M (+8.3%) Shares 15,075 (+9.9%) Est. Cost $428.23 Unrealized +9.2%

VYNE VYNE THERAPEUTICS INC 0.0%

Value $636K (+331.8%) Shares 1,063,899 (+319.2%) Est. Cost $0.53 Unrealized +7.7%

SVRA SAVARA INC 0.5%

Value $7.996M (-5.6%) Shares 1,464,535 (+4.2%) Est. Cost $3.24 Unrealized +75.9%

PCSC PERCEPTIVE CAP SOLUTIONS COR 0.3%

Value $5.48M (-7.9%) Shares 499,581 (+9.4%) Est. Cost $10.38 Unrealized +31.3%

TSHA TAYSHA GENE THERAPIES INC 0.8%

Value $13.32M (-3.0%) Shares 2,979,429 (+19.4%) Est. Cost $2.50 Unrealized +90.6%

IONS IONIS PHARMACEUTICALS INC 0.7%

Value $12.04M (+3.4%) Shares 160,338 (+9.0%) Est. Cost $40.30 Unrealized +103.0%

KPTI KARYOPHARM THERAPEUTICS INC 0.0%

Value $762K (+107.0%) Shares 136,736 (+173.5%) Est. Cost $6.94 Unrealized +9.9%

ESTA ESTABLISHMENT LABS HLDGS INC 0.7%

Value $12.12M (-3.0%) Shares 213,473 (+24.5%) Est. Cost $53.44 Unrealized +31.6%

PFE PFIZER INC 0.1%

Value $2.173M (+20.6%) Shares 77,400 (+6.9%) Est. Cost $24.99 Unrealized +4.8%

SLNO SOLENO THERAPEUTICS INC 0.1%

Value $1.568M (-19.0%) Shares 46,830 (+12.0%) Est. Cost $54.61 Unrealized -23.8%

LUNG PULMONX CORP 0.0%

Value $483K (-38.5%) Shares 374,497 (+5.4%) Est. Cost $3.01 Unrealized -42.3%

XNCR XENCOR INC 0.1%

Value $1.13M (+31.4%) Shares 93,665 (+66.8%) Est. Cost $13.93 Unrealized -9.2%

ISRG INTUITIVE SURGICAL INC 0.0%

Value $844K (+46.0%) Shares 1,830 (+79.4%) Est. Cost $527.33 Unrealized -1.2%

BMRN BIOMARIN PHARMACEUTICAL INC 0.1%

Value $1.028M (+34.1%) Shares 18,200 (+41.1%) Est. Cost $59.14 Unrealized -0.7%

WHWK WHITEHAWK THERAPEUTICS INC 0.0%

Value $443K (+136.1%) Shares 128,503 (+65.6%) Est. Cost $2.50 Unrealized +12.7%

ZNTL ZENTALIS PHARMACEUTICALS INC 0.0%

Value $338K (+213.4%) Shares 144,636 (+80.8%) Est. Cost $1.93 Unrealized +35.7%

GH GUARDANT HEALTH INC 0.1%

Value $924K (+29.2%) Shares 10,000 (+42.9%) Est. Cost $73.82 Unrealized +45.6%

RARE ULTRAGENYX PHARMACEUTICAL IN 0.0%

Value $419K (+82.2%) Shares 20,000 (+100.0%) Est. Cost $23.36 Unrealized 0.0%

ADGM ADAGIO MED HLDGS INC 0.1%

Value $1.386M (+14.9%) Shares 1,205,447 (+4.0%) Est. Cost $1.18 Unrealized -16.8%

AVTR AVANTOR INC 0.0%

Value $627K (-21.8%) Shares 80,000 (+14.3%) Est. Cost $12.42 Unrealized -11.5%

PMVP PMV PHARMACEUTICALS INC 0.0%

Value $286K (+126.9%) Shares 231,008 (+128.7%) Est. Cost $1.37 Unrealized -17.8%

QTTB Q32 BIO INC 0.0%

Value $225K (+238.4%) Shares 35,000 (+75.0%) Est. Cost $3.30 Unrealized +19.3%

SNDX SYNDAX PHARMACEUTICALS INC 0.0%

Value $409K (+62.1%) Shares 17,500 (+45.8%) Est. Cost $18.49 Unrealized +12.3%

BSX BOSTON SCIENTIFIC CORP 0.0%

Value $628K (+31.6%) Shares 10,000 (+100.0%) Est. Cost $91.93 Unrealized -6.6%

QNCX QUINCE THERAPEUTICS INC 0.0%

Value $5,080 (-96.5%) Shares 50,100 (+16.8%) Est. Cost $1.53 Unrealized +1.5%

ASMB ASSEMBLY BIOSCIENCES INC 0.0%

Value $554K (-17.6%) Shares 19,947 (+1.0%) Est. Cost $22.42 Unrealized +27.2%

IBIO IBIO INC 0.1%

Value $893K (+14.1%) Shares 469,878 (+15.9%) Est. Cost $1.48 Unrealized +56.5%

ARE ALEXANDRIA REAL ESTATE EQ IN 0.1%

Value $905K (+13.5%) Shares 19,500 (+19.6%) Est. Cost $56.53 Unrealized -13.4%

VERA VERA THERAPEUTICS INC 0.0%

Value $645K (-13.5%) Shares 16,033 (+8.8%) Est. Cost $36.28 Unrealized +23.9%

RZLT REZOLUTE INC 0.0%

Value $179K (+96.1%) Shares 58,679 (+51.7%) Est. Cost $3.31 Unrealized -7.5%

BCAB BIOATLA INC 0.0%

Value $36,725 (-64.7%) Shares 228,107 (+24.6%) Est. Cost $0.68 Unrealized -60.2%

ANNX ANNEXON INC 0.0%

Value $305K (+26.5%) Shares 55,000 (+14.6%) Est. Cost $4.07 Unrealized +41.3%

REPL REPLIMUNE GROUP INC 0.7%

Value $12.11M (+0.4%) Shares 1,582,987 (+27.5%) Est. Cost $7.06 Unrealized +10.6%

RXST RXSIGHT INC 0.0%

Value $266K (+17.3%) Shares 43,250 (+98.4%) Est. Cost $9.55 Unrealized -5.2%

DYN DYNE THERAPEUTICS INC 0.1%

Value $861K (+3.1%) Shares 47,463 (+11.2%) Est. Cost $14.19 Unrealized +20.7%

NUVL NUVALENT INC 0.0%

Value $711K (+3.3%) Shares 6,942 (+1.5%) Est. Cost $73.61 Unrealized +40.8%

VTGN VISTAGEN THERAPEUTICS INC 0.0%

Value $429K (+4.0%) Shares 751,141 (+20.5%) Est. Cost $3.01 Unrealized -79.8%

EOLS EVOLUS INC 0.0%

Value $230K (-3.7%) Shares 55,859 (+55.8%) Est. Cost $6.10 Unrealized -19.7%

BHVN BIOHAVEN LTD 0.0%

Value $379K (-2.1%) Shares 44,777 (+30.6%) Est. Cost $21.83 Unrealized -46.2%

DHR DANAHER CORP DEL 0.3%

Value $5.865M (+0.1%) Shares 30,932 (+20.8%) Est. Cost $220.43 Unrealized +1.9%

ENTA ENANTA PHARMACEUTICALS INC 0.0%

Value $649K (-0.5%) Shares 51,357 (+24.2%) Est. Cost $12.85 Unrealized +5.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DNLI	DENALI THERAPEUTICS INC	1,871,455 (+3490.9%)	$35.93M (+4076.0%)	2.1%	$19.54	+0.4%	COM	24823R105
CRNX	CRINETICS PHARMACEUTICALS IN	1,139,331 (+268.3%)	$41.38M (+187.3%)	2.4%	$45.90	+7.2%	COM	22663K107
TERN	TERNS PHARMACEUTICALS INC	914,699 (+68.9%)	$48.22M (+120.4%)	2.8%	$28.74	+30.3%	COM	880881107
ABVX	ABIVAX SA	1,394,019 (+5.8%)	$155M (-12.6%)	9.1%	$13.59	—	SPONSORED ADS	00370M103
INSP	INSPIRE MED SYS INC	405,197 (+2601.3%)	$20.9M (+1410.7%)	1.2%	$78.19	-1.0%	COM	457730109
SRRK	SCHOLAR ROCK HLDG CORP	407,273 (+485.3%)	$20.02M (+553.1%)	1.2%	$44.05	+3.2%	COM	80706P103
SYRE	SPYRE THERAPEUTICS INC	338,323 (+893.6%)	$17.07M (+1429.8%)	1.0%	$32.81	+5.2%	COM NEW	00773J202
AVR	ANTERIS TECHNOLOGIES GLOBAL	3,789,132 (+205.9%)	$21.03M (+240.2%)	1.2%	$5.33	+4.8%	COM	03675P102
RYTM	RHYTHM PHARMACEUTICALS INC	211,450 (+311.8%)	$18.39M (+234.6%)	1.1%	$92.69	+10.9%	COM	76243J105
ELVN	ENLIVEN THERAPEUTICS INC	329,540 (+998.5%)	$12.92M (+2696.1%)	0.8%	$25.09	+2.1%	COM	29337E102
STRO	SUTRO BIOPHARMA INC	524,441 (+681.8%)	$13.06M (+1583.3%)	0.8%	$14.37	+5.0%	COM SHS	869367201
SNY	SANOFI SA	316,939 (+399.3%)	$15.27M (+396.4%)	0.9%	$48.01	—	SPONSORED ADR	80105N105
SPY	STATE STR SPDR S&P 500 ETF T	75,940 (+38.9%)	$49.39M (+32.4%)	2.9%	$647.31	—	TR UNIT	78462F103
NKTR	NEKTAR THERAPEUTICS	161,252 (+123.9%)	$11.6M (+281.0%)	0.7%	$39.38	+22.7%	COM NEW	640268306
IRD	OPUS GENETICS INC	1,849,004 (+4522.5%)	$8.413M (+10363.9%)	0.5%	$2.73	+0.6%	COM	67577R102
CYTK	CYTOKINETICS INC	632,556 (+17.1%)	$41.69M (+21.5%)	2.5%	$54.95	+17.3%	COM NEW	23282W605
OKUR	ONKURE THERAPEUTICS INC	2,434,941 (+140.1%)	$10.08M (+242.8%)	0.6%	$2.84	-3.8%	COM CL A	68277Q105
SPRY	ARS PHARMACEUTICALS INC	1,361,536 (+268.4%)	$10.93M (+153.9%)	0.6%	$10.30	-0.6%	COM	82835W108
VKTX	VIKING THERAPEUTICS INC	227,717 (+759.5%)	$7.41M (+695.0%)	0.4%	$31.38	-0.1%	COM	92686J106
LXEO	LEXEO THERAPEUTICS INC	1,467,350 (+5.3%)	$8.423M (-39.1%)	0.5%	$5.37	+40.3%	COM	52886X107
SRPT	SAREPTA THERAPEUTICS INC	262,058 (+807.8%)	$5.702M (+818.0%)	0.3%	$24.26	-16.6%	COM	803607100
ZLAB	ZAI LAB LTD	1,425,367 (+14.3%)	$26.81M (+21.9%)	1.6%	$22.50	—	ADR	98887Q104
LONA	LEONABIO INC	727,481 (+84.8%)	$7.479M (+158.7%)	0.4%	$5.06	+11.2%	COM	04746L203
URGN	UROGEN PHARMA LTD	395,459 (+215.4%)	$7.11M (+142.2%)	0.4%	$20.57	+1.3%	COM	M96088105
XENE	XENON PHARMACEUTICALS INC	228,899 (+12.2%)	$13.31M (+45.6%)	0.8%	$36.87	+13.9%	COM	98420N105
VRDN	VIRIDIAN THERAPEUTICS INC	304,422 (+294.3%)	$5.954M (+147.9%)	0.4%	$26.97	+14.4%	COM	92790C104
IMVT	IMMUNOVANT INC	2,679,010 (+8.0%)	$66.55M (+5.5%)	3.9%	$19.82	+32.5%	COM	45258J102
ABOS	ACUMEN PHARMACEUTICALS INC	2,156,334 (+142.0%)	$5.089M (+170.6%)	0.3%	$1.85	+23.5%	COM	00509G209
PLRX	PLIANT THERAPEUTICS INC	2,585,126 (+3402.0%)	$3.257M (+3516.8%)	0.2%	$1.25	-0.6%	COM	729139105
AMLX	AMYLYX PHARMACEUTICALS INC	1,000,604 (+12.4%)	$13.91M (+29.3%)	0.8%	$4.95	+182.6%	COM	03237H101
OVID	OVID THERAPEUTICS INC	4,544,113 (+6.0%)	$10.09M (+44.4%)	0.6%	$1.54	+3.4%	COM	690469101
RLMD	RELMADA THERAPEUTICS INC	451,918 (+1364.1%)	$3.145M (+2009.8%)	0.2%	$3.97	+1.1%	COM	75955J402
LQDA	LIQUIDIA CORPORATION	100,000 (+308.2%)	$3.774M (+346.6%)	0.2%	—	—	PUT	53635D202
CATX	PERSPECTIVE THERAPEUTICS INC	749,335 (+687.2%)	$3.125M (+1093.6%)	0.2%	$3.71	+3.4%	COM NEW	46489V302
TENX	TENAX THERAPEUTICS INC	213,462 (+235.2%)	$3.413M (+339.8%)	0.2%	$11.25	+20.0%	COM NEW	88032L605
PEPG	PEPGEN INC	1,607,638 (+4263.6%)	$2.846M (+1086.4%)	0.2%	$5.74	+1.6%	COM	713317105
APLS	APELLIS PHARMACEUTICALS INC	72,500 (+262.5%)	$2.917M (+480.5%)	0.2%	$31.34	-27.6%	COM	03753U106
DRUG	BRIGHT MINDS BIOSCIENCES INC	33,900 (+868.6%)	$2.474M (+805.6%)	0.1%	$82.23	+2.2%	COM NEW	10919W405
ACLX	ARCELLX INC	32,084 (+1.9%)	$3.684M (+79.5%)	0.2%	$69.95	+1.9%	COMMON STOCK	03940C100
PRTA	PROTHENA CORP PLC	1,581,443 (+8.5%)	$15.37M (+10.4%)	0.9%	$7.63	+19.5%	SHS	G72800108
SPRB	SPRUCE BIOSCIENCES INC	58,600 (+1.0%)	$3.83M (-24.2%)	0.2%	$106.81	-30.2%	COM NEW	85209E208
QURE	UNIQURE NV	100,000 (+233.3%)	$1.635M (+127.7%)	0.1%	$27.00	-12.8%	CALL	N90064101
WW	WW INTL INC	57,700 (+1.1%)	$793K (-52.5%)	0.0%	$33.73	-28.4%	COM NEW	98262P200
ZURA	ZURA BIO LTD	630,403 (+12.2%)	$3.751M (+27.4%)	0.2%	$3.47	+69.5%	CLASS A ORD SHS	G9TY5A101
MNPR	MONOPAR THERAPEUTICS INC	264,278 (+13.0%)	$14.48M (-5.2%)	0.9%	$50.66	+23.9%	COM NEW	61023L207
CRBP	CORBUS PHARMACEUTICALS HLDGS	331,781 (+15.7%)	$3.115M (+33.5%)	0.2%	$11.68	-30.6%	COM NEW	21833P301
SLN	SILENCE THERAPEUTICS PLC	172,157 (+628.2%)	$907K (+531.1%)	0.1%	$6.99	—	ADS	82686Q101
JANX	JANUX THERAPEUTICS INC	298,546 (+21.6%)	$4.15M (+22.5%)	0.2%	$24.57	-44.4%	COM	47103J105
MLYS	MINERALYS THERAPEUTICS INC	154,686 (+13.5%)	$4.19M (-15.2%)	0.2%	$25.11	+24.9%	COM	603170101
PALI	PALISADE BIO INC	2,264,845 (+13.0%)	$3.963M (-15.9%)	0.2%	$1.91	-6.4%	COM	696389402
TEVA	TEVA PHARMACEUTICAL INDS LTD	268,391 (+13.7%)	$8.084M (+9.8%)	0.5%	$16.77	—	SPONSORED ADS	881624209
KROS	KEROS THERAPEUTICS INC	97,318 (+416.2%)	$1.074M (+179.9%)	0.1%	$16.86	+5.4%	COM	492327101
BCRX	BIOCRYST PHARMACEUTICALS INC	105,000 (+133.3%)	$1M (+184.8%)	0.1%	$7.10	-1.4%	COM	09058V103
FWRD	FORWARD AIR CORP	78,241 (+193.8%)	$1.307M (+96.3%)	0.1%	$25.87	+6.7%	COM	34986A104
PHVS	PHARVARIS N V	105,528 (+23.4%)	$2.981M (+25.6%)	0.2%	$22.01	+21.5%	COM	N69605108
GOSS	GOSSAMER BIO INC	287,531 (+35.3%)	$94,454 (-85.7%)	0.0%	$1.14	+97.6%	COM	38341P102
ARWR	ARROWHEAD PHARMACEUTICALS IN	70,300 (+20.8%)	$4.408M (+14.1%)	0.3%	$31.05	+111.7%	COM	04280A100
REPL	REPLIMUNE GROUP INC	100,000 (+300.0%)	$765K (+214.8%)	0.0%	$7.06	+10.6%	CALL	76029N106
VRTX	VERTEX PHARMACEUTICALS INC	15,075 (+9.9%)	$6.732M (+8.3%)	0.4%	$428.23	+9.2%	COM	92532F100
VYNE	VYNE THERAPEUTICS INC	1,063,899 (+319.2%)	$636K (+331.8%)	0.0%	$0.53	+7.7%	COM	92941V308
SVRA	SAVARA INC	1,464,535 (+4.2%)	$7.996M (-5.6%)	0.5%	$3.24	+75.9%	COM	805111101
PCSC	PERCEPTIVE CAP SOLUTIONS COR	499,581 (+9.4%)	$5.48M (-7.9%)	0.3%	$10.38	+31.3%	CL A ORD SHS	G70077105
TSHA	TAYSHA GENE THERAPIES INC	2,979,429 (+19.4%)	$13.32M (-3.0%)	0.8%	$2.50	+90.6%	COM SHS	877619106
IONS	IONIS PHARMACEUTICALS INC	160,338 (+9.0%)	$12.04M (+3.4%)	0.7%	$40.30	+103.0%	COM	462222100
KPTI	KARYOPHARM THERAPEUTICS INC	136,736 (+173.5%)	$762K (+107.0%)	0.0%	$6.94	+9.9%	COM NEW	48576U205
ESTA	ESTABLISHMENT LABS HLDGS INC	213,473 (+24.5%)	$12.12M (-3.0%)	0.7%	$53.44	+31.6%	COM	G31249108
PFE	PFIZER INC	77,400 (+6.9%)	$2.173M (+20.6%)	0.1%	$24.99	+4.8%	COM	717081103
SLNO	SOLENO THERAPEUTICS INC	46,830 (+12.0%)	$1.568M (-19.0%)	0.1%	$54.61	-23.8%	COM	834203309
LUNG	PULMONX CORP	374,497 (+5.4%)	$483K (-38.5%)	0.0%	$3.01	-42.3%	COM	745848101
XNCR	XENCOR INC	93,665 (+66.8%)	$1.13M (+31.4%)	0.1%	$13.93	-9.2%	COM	98401F105
ISRG	INTUITIVE SURGICAL INC	1,830 (+79.4%)	$844K (+46.0%)	0.0%	$527.33	-1.2%	COM NEW	46120E602
BMRN	BIOMARIN PHARMACEUTICAL INC	18,200 (+41.1%)	$1.028M (+34.1%)	0.1%	$59.14	-0.7%	COM	09061G101
WHWK	WHITEHAWK THERAPEUTICS INC	128,503 (+65.6%)	$443K (+136.1%)	0.0%	$2.50	+12.7%	COM	00032Q104
ZNTL	ZENTALIS PHARMACEUTICALS INC	144,636 (+80.8%)	$338K (+213.4%)	0.0%	$1.93	+35.7%	COM	98943L107
GH	GUARDANT HEALTH INC	10,000 (+42.9%)	$924K (+29.2%)	0.1%	$73.82	+45.6%	COM	40131M109
RARE	ULTRAGENYX PHARMACEUTICAL IN	20,000 (+100.0%)	$419K (+82.2%)	0.0%	$23.36	0.0%	CALL	90400D108
ADGM	ADAGIO MED HLDGS INC	1,205,447 (+4.0%)	$1.386M (+14.9%)	0.1%	$1.18	-16.8%	COM	00534B100
AVTR	AVANTOR INC	80,000 (+14.3%)	$627K (-21.8%)	0.0%	$12.42	-11.5%	COM	05352A100
PMVP	PMV PHARMACEUTICALS INC	231,008 (+128.7%)	$286K (+126.9%)	0.0%	$1.37	-17.8%	COM	69353Y103
QTTB	Q32 BIO INC	35,000 (+75.0%)	$225K (+238.4%)	0.0%	$3.30	+19.3%	COM	746964105
SNDX	SYNDAX PHARMACEUTICALS INC	17,500 (+45.8%)	$409K (+62.1%)	0.0%	$18.49	+12.3%	COM	87164F105
BSX	BOSTON SCIENTIFIC CORP	10,000 (+100.0%)	$628K (+31.6%)	0.0%	$91.93	-6.6%	COM	101137107
QNCX	QUINCE THERAPEUTICS INC	50,100 (+16.8%)	$5,080 (-96.5%)	0.0%	$1.53	+1.5%	COM	22053A107
ASMB	ASSEMBLY BIOSCIENCES INC	19,947 (+1.0%)	$554K (-17.6%)	0.0%	$22.42	+27.2%	COM NEW	045396207
IBIO	IBIO INC	469,878 (+15.9%)	$893K (+14.1%)	0.1%	$1.48	+56.5%	COM NEW	451033708
ARE	ALEXANDRIA REAL ESTATE EQ IN	19,500 (+19.6%)	$905K (+13.5%)	0.1%	$56.53	-13.4%	COM	015271109
VERA	VERA THERAPEUTICS INC	16,033 (+8.8%)	$645K (-13.5%)	0.0%	$36.28	+23.9%	CL A	92337R101
RZLT	REZOLUTE INC	58,679 (+51.7%)	$179K (+96.1%)	0.0%	$3.31	-7.5%	COM NEW	76200L309
BCAB	BIOATLA INC	228,107 (+24.6%)	$36,725 (-64.7%)	0.0%	$0.68	-60.2%	COM	09077B104
ANNX	ANNEXON INC	55,000 (+14.6%)	$305K (+26.5%)	0.0%	$4.07	+41.3%	COM	03589W102
REPL	REPLIMUNE GROUP INC	1,582,987 (+27.5%)	$12.11M (+0.4%)	0.7%	$7.06	+10.6%	COM	76029N106
RXST	RXSIGHT INC	43,250 (+98.4%)	$266K (+17.3%)	0.0%	$9.55	-5.2%	COM	78349D107
DYN	DYNE THERAPEUTICS INC	47,463 (+11.2%)	$861K (+3.1%)	0.1%	$14.19	+20.7%	COM	26818M108
NUVL	NUVALENT INC	6,942 (+1.5%)	$711K (+3.3%)	0.0%	$73.61	+40.8%	COM	670703107
VTGN	VISTAGEN THERAPEUTICS INC	751,141 (+20.5%)	$429K (+4.0%)	0.0%	$3.01	-79.8%	COM	92840H400
EOLS	EVOLUS INC	55,859 (+55.8%)	$230K (-3.7%)	0.0%	$6.10	-19.7%	COM	30052C107
BHVN	BIOHAVEN LTD	44,777 (+30.6%)	$379K (-2.1%)	0.0%	$21.83	-46.2%	COM	G1110E107
DHR	DANAHER CORP DEL	30,932 (+20.8%)	$5.865M (+0.1%)	0.3%	$220.43	+1.9%	COM	235851102
ENTA	ENANTA PHARMACEUTICALS INC	51,357 (+24.2%)	$649K (-0.5%)	0.0%	$12.85	+5.0%	COM	29251M106

Exited Positions (42)

RNAM AVIDITY BIOSCIENCES INC 2.3%

Value $39.42M Shares 546,534 Est. Cost $62.22 Unrealized +16.7%

RAPT RAPT THERAPEUTICS INC 1.0%

Value $17.26M Shares 509,679 Est. Cost $7.63 Unrealized +562.1%

— CIDARA THERAPEUTICS INC 0.8%

Value $13.18M Shares 59,677 Est. Cost $151.14 Unrealized —

AAM AA MISSION ACQUISITION CORP 0.4%

Value $6.171M Shares 578,359 Est. Cost $10.00 Unrealized +6.6%

AAM AA MISSION ACQUISITION CORP 0.3%

Value $4.322M Shares 405,089 Est. Cost $10.00 Unrealized +6.6%

— ATAI BECKLEY NV 0.2%

Value $3.735M Shares 913,242 Est. Cost $5.29 Unrealized —

— AVADEL PHARMACEUTICALS PLC 0.2%

Value $3.244M Shares 150,532 Est. Cost $21.55 Unrealized —

IWM ISHARES TR 0.2%

Value $2.971M Shares 12,070 Est. Cost $246.16 Unrealized —

BBOT BRIDGEBIO ONCOLOGY THERAPEUT 0.2%

Value $2.833M Shares 226,248 Est. Cost $11.58 Unrealized —

— DYNAVAX TECHNOLOGIES CORP 0.2%

Value $2.615M Shares 170,000 Est. Cost $12.97 Unrealized —

— ASTRIA THERAPEUTICS INC 0.1%

Value $2.272M Shares 173,557 Est. Cost $5.87 Unrealized —

GRCE GRACE THERAPEUTICS INC 0.1%

Value $2.221M Shares 641,988 Est. Cost $3.03 Unrealized +23.0%

OLMA OLEMA PHARMACEUTICALS INC 0.1%

Value $2.035M Shares 81,399 Est. Cost $12.55 Unrealized +102.8%

AQST AQUESTIVE THERAPEUTICS INC 0.1%

Value $1.641M Shares 254,000 Est. Cost $4.02 Unrealized 0.0%

GOSS GOSSAMER BIO INC 0.1%

Value $1.436M Shares 463,200 Est. Cost $1.14 Unrealized +97.6%

OMER OMEROS CORP 0.1%

Value $1.288M Shares 75,000 Est. Cost $8.61 Unrealized +41.6%

INFQ CHURCHILL CAP CORP X 0.1%

Value $1.012M Shares 64,887 Est. Cost $15.60 Unrealized -13.1%

URGN UROGEN PHARMA LTD 0.1%

Value $937K Shares 40,000 Est. Cost $20.57 Unrealized +1.3%

UTHR UNITED THERAPEUTICS CORP DEL 0.1%

Value $926K Shares 1,900 Est. Cost $336.31 Unrealized +42.9%

PLYM PLYMOUTH INDL REIT INC 0.1%

Value $899K Shares 41,065 Est. Cost $21.88 Unrealized —

QNRX QUOIN PHARMACEUTICALS LTD 0.0%

Value $840K Shares 58,230 Est. Cost $14.43 Unrealized —

AZN ASTRAZENECA PLC 0.0%

Value $827K Shares 9,000 Est. Cost $91.93 Unrealized —

VTYX VENTYX BIOSCIENCES INC 0.0%

Value $737K Shares 81,600 Est. Cost $2.15 Unrealized +528.2%

FULC FULCRUM THERAPEUTICS INC 0.0%

Value $735K Shares 65,000 Est. Cost $9.23 Unrealized +12.4%

NGNE NEUROGENE INC 0.0%

Value $631K Shares 30,633 Est. Cost $17.37 Unrealized +4.5%

NVCR NOVOCURE LTD 0.0%

Value $440K Shares 34,000 Est. Cost $13.36 Unrealized -5.9%

OMER OMEROS CORP 0.0%

Value $429K Shares 25,000 Est. Cost $8.61 Unrealized +41.6%

CTMX CYTOMX THERAPEUTICS INC 0.0%

Value $426K Shares 100,000 Est. Cost $1.83 Unrealized +185.2%

AUPH AURINIA PHARMACEUTICALS INC 0.0%

Value $351K Shares 22,000 Est. Cost $14.18 Unrealized +4.3%

— DAYFORCE INC 0.0%

Value $346K Shares 5,000 Est. Cost $62.23 Unrealized +11.3%

IDXX IDEXX LABS INC 0.0%

Value $271K Shares 400 Est. Cost $681.02 Unrealized -1.6%

SPRO SPERO THERAPEUTICS INC 0.0%

Value $265K Shares 113,839 Est. Cost $1.19 Unrealized +98.6%

DYN DYNE THERAPEUTICS INC 0.0%

Value $196K Shares 10,000 Est. Cost $14.19 Unrealized +20.7%

OTLK OUTLOOK THERAPEUTICS INC 0.0%

Value $158K Shares 100,000 Est. Cost — Unrealized —

ZONE CLEANCORE SOLUTIONS INC 0.0%

Value $136K Shares 521,980 Est. Cost $0.84 Unrealized -60.4%

INO INOVIO PHARMACEUTICALS INC 0.0%

Value $131K Shares 75,500 Est. Cost $2.20 Unrealized -25.9%

— GENERATION BIO CO 0.0%

Value $126K Shares 22,144 Est. Cost $6.12 Unrealized —

GOSS GOSSAMER BIO INC 0.0%

Value $109K Shares 35,100 Est. Cost $1.14 Unrealized +97.6%

SABS SAB BIOTHERAPEUTICS INC 0.0%

Value $98,527 Shares 26,344 Est. Cost $2.70 Unrealized +48.0%

VTGN VISTAGEN THERAPEUTICS INC 0.0%

Value $79,428 Shares 120,000 Est. Cost $3.01 Unrealized -79.8%

IVF INVO FERTILITY INC. 0.0%

Value $20,111 Shares 26,722 Est. Cost $3.49 Unrealized -67.1%

IOBT IO BIOTECH INC 0.0%

Value $15,201 Shares 24,964 Est. Cost $0.74 Unrealized -45.2%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RNAM	AVIDITY BIOSCIENCES INC	546,534	$39.42M	2.3%	$62.22	+16.7%	—	05370A108
RAPT	RAPT THERAPEUTICS INC	509,679	$17.26M	1.0%	$7.63	+562.1%	—	75382E208
—	CIDARA THERAPEUTICS INC	59,677	$13.18M	0.8%	$151.14	—	—	171757206
AAM	AA MISSION ACQUISITION CORP	578,359	$6.171M	0.4%	$10.00	+6.6%	—	G1000R101
AAM	AA MISSION ACQUISITION CORP	405,089	$4.322M	0.3%	$10.00	+6.6%	CALL	G1000R101
—	ATAI BECKLEY NV	913,242	$3.735M	0.2%	$5.29	—	—	N0731H103
—	AVADEL PHARMACEUTICALS PLC	150,532	$3.244M	0.2%	$21.55	—	—	G29687103
IWM	ISHARES TR	12,070	$2.971M	0.2%	$246.16	—	—	464287655
BBOT	BRIDGEBIO ONCOLOGY THERAPEUT	226,248	$2.833M	0.2%	$11.58	—	—	107924102
—	DYNAVAX TECHNOLOGIES CORP	170,000	$2.615M	0.2%	$12.97	—	—	268158201
—	ASTRIA THERAPEUTICS INC	173,557	$2.272M	0.1%	$5.87	—	—	04635X102
GRCE	GRACE THERAPEUTICS INC	641,988	$2.221M	0.1%	$3.03	+23.0%	—	00439U104
OLMA	OLEMA PHARMACEUTICALS INC	81,399	$2.035M	0.1%	$12.55	+102.8%	—	68062P106
AQST	AQUESTIVE THERAPEUTICS INC	254,000	$1.641M	0.1%	$4.02	0.0%	PUT	03843E104
GOSS	GOSSAMER BIO INC	463,200	$1.436M	0.1%	$1.14	+97.6%	PUT	38341P102
OMER	OMEROS CORP	75,000	$1.288M	0.1%	$8.61	+41.6%	PUT	682143102
INFQ	CHURCHILL CAP CORP X	64,887	$1.012M	0.1%	$15.60	-13.1%	—	G2130T108
URGN	UROGEN PHARMA LTD	40,000	$937K	0.1%	$20.57	+1.3%	CALL	M96088105
UTHR	UNITED THERAPEUTICS CORP DEL	1,900	$926K	0.1%	$336.31	+42.9%	—	91307C102
PLYM	PLYMOUTH INDL REIT INC	41,065	$899K	0.1%	$21.88	—	—	729640102
QNRX	QUOIN PHARMACEUTICALS LTD	58,230	$840K	0.0%	$14.43	—	—	74907L409
AZN	ASTRAZENECA PLC	9,000	$827K	0.0%	$91.93	—	—	046353108
VTYX	VENTYX BIOSCIENCES INC	81,600	$737K	0.0%	$2.15	+528.2%	—	92332V107
FULC	FULCRUM THERAPEUTICS INC	65,000	$735K	0.0%	$9.23	+12.4%	CALL	359616109
NGNE	NEUROGENE INC	30,633	$631K	0.0%	$17.37	+4.5%	—	64135M105
NVCR	NOVOCURE LTD	34,000	$440K	0.0%	$13.36	-5.9%	—	G6674U108
OMER	OMEROS CORP	25,000	$429K	0.0%	$8.61	+41.6%	—	682143102
CTMX	CYTOMX THERAPEUTICS INC	100,000	$426K	0.0%	$1.83	+185.2%	CALL	23284F105
AUPH	AURINIA PHARMACEUTICALS INC	22,000	$351K	0.0%	$14.18	+4.3%	—	05156V102
—	DAYFORCE INC	5,000	$346K	0.0%	$62.23	+11.3%	—	15677J108
IDXX	IDEXX LABS INC	400	$271K	0.0%	$681.02	-1.6%	—	45168D104
SPRO	SPERO THERAPEUTICS INC	113,839	$265K	0.0%	$1.19	+98.6%	—	84833T103
DYN	DYNE THERAPEUTICS INC	10,000	$196K	0.0%	$14.19	+20.7%	CALL	26818M108
OTLK	OUTLOOK THERAPEUTICS INC	100,000	$158K	0.0%	—	—	PUT	69012T305
ZONE	CLEANCORE SOLUTIONS INC	521,980	$136K	0.0%	$0.84	-60.4%	—	184492106
INO	INOVIO PHARMACEUTICALS INC	75,500	$131K	0.0%	$2.20	-25.9%	CALL	45773H409
—	GENERATION BIO CO	22,144	$126K	0.0%	$6.12	—	—	37148K209
GOSS	GOSSAMER BIO INC	35,100	$109K	0.0%	$1.14	+97.6%	CALL	38341P102
SABS	SAB BIOTHERAPEUTICS INC	26,344	$98,527	0.0%	$2.70	+48.0%	—	78397T202
VTGN	VISTAGEN THERAPEUTICS INC	120,000	$79,428	0.0%	$3.01	-79.8%	PUT	92840H400
IVF	INVO FERTILITY INC.	26,722	$20,111	0.0%	$3.49	-67.1%	—	44984F807
IOBT	IO BIOTECH INC	24,964	$15,201	0.0%	$0.74	-45.2%	—	449778109

Decreased Positions (54)

ROIV ROIVANT SCIENCES LTD 5.4%

Value $91.02M (+22.3%) Shares 3,285,906 (-4.2%) Est. Cost $11.61 Unrealized +108.3%

FULC FULCRUM THERAPEUTICS INC 0.1%

Value $1.001M (-92.9%) Shares 130,560 (-89.6%) Est. Cost $9.23 Unrealized +12.4%

PTGX PROTAGONIST THERAPEUTICS INC 6.2%

Value $105M (+14.3%) Shares 994,119 (-5.2%) Est. Cost $31.93 Unrealized +160.9%

ABUS ARBUTUS BIOPHARMA CORP 0.8%

Value $14.1M (-45.9%) Shares 3,133,175 (-42.1%) Est. Cost $3.59 Unrealized +19.6%

BBIO BRIDGEBIO PHARMA INC 0.4%

Value $7.002M (-57.1%) Shares 94,292 (-55.8%) Est. Cost $30.21 Unrealized +146.5%

TFX TELEFLEX INCORPORATED 0.1%

Value $2.534M (-74.2%) Shares 21,186 (-73.7%) Est. Cost $121.00 Unrealized -10.2%

CBIO CRESCENT BIOPHARMA INC. 0.1%

Value $924K (-87.2%) Shares 50,273 (-91.7%) Est. Cost $12.74 Unrealized -13.2%

SEPN SEPTERNA INC 1.5%

Value $26.19M (-18.9%) Shares 1,089,818 (-5.9%) Est. Cost $11.55 Unrealized +129.5%

MAZE MAZE THERAPEUTICS INC 0.1%

Value $1.495M (-79.9%) Shares 50,095 (-72.1%) Est. Cost $31.83 Unrealized +38.3%

IKT INHIBIKASE THERAPEUTICS INC 0.7%

Value $11.1M (-32.9%) Shares 6,606,572 (-18.1%) Est. Cost $2.17 Unrealized -20.0%

IVVD INVIVYD INC 0.3%

Value $4.969M (-48.4%) Shares 3,822,427 (-2.0%) Est. Cost $0.89 Unrealized +123.0%

QURE UNIQURE NV 0.1%

Value $1.246M (-77.9%) Shares 76,206 (-67.6%) Est. Cost $27.00 Unrealized -12.8%

CLDX CELLDEX THERAPEUTICS INC NEW 0.8%

Value $13.57M (-22.7%) Shares 427,816 (-33.9%) Est. Cost $25.54 Unrealized -0.5%

CRVS CORVUS PHARMACEUTICALS INC 0.1%

Value $1.286M (-64.2%) Shares 87,901 (-81.1%) Est. Cost $7.89 Unrealized +106.6%

BIIB BIOGEN INC 0.1%

Value $2.017M (-52.8%) Shares 11,000 (-54.7%) Est. Cost $151.97 Unrealized +20.6%

BLTE BELITE BIO INC 0.3%

Value $4.286M (-32.7%) Shares 26,880 (-32.5%) Est. Cost $159.96 Unrealized —

CGON CG ONCOLOGY INC 0.7%

Value $12.57M (+17.3%) Shares 185,699 (-28.1%) Est. Cost $29.61 Unrealized +77.1%

ENGN ENGENE HOLDINGS INC 0.1%

Value $910K (-66.8%) Shares 133,686 (-56.0%) Est. Cost $8.01 Unrealized +20.6%

HELP CYBIN INC 0.0%

Value $150K (-92.3%) Shares 31,278 (-86.9%) Est. Cost $6.53 Unrealized +8.8%

CTMX CYTOMX THERAPEUTICS INC. 0.9%

Value $16.03M (-10.0%) Shares 3,410,190 (-18.5%) Est. Cost $1.83 Unrealized +185.2%

RGNX REGENXBIO INC 0.0%

Value $372K (-82.2%) Shares 44,416 (-69.3%) Est. Cost $9.76 Unrealized +18.9%

CLYM CLIMB BIO INC 0.2%

Value $4.094M (-28.6%) Shares 597,662 (-58.3%) Est. Cost $2.51 Unrealized +99.4%

RVMD REVOLUTION MEDICINES INC 0.8%

Value $13.02M (+12.7%) Shares 133,893 (-7.7%) Est. Cost $48.72 Unrealized +111.4%

ACRS ACLARIS THERAPEUTICS INC 0.0%

Value $497K (-73.1%) Shares 132,426 (-78.4%) Est. Cost $2.05 Unrealized +62.5%

EQ EQUILLIUM INC 0.4%

Value $7.453M (-14.3%) Shares 3,726,659 (-33.5%) Est. Cost $1.06 Unrealized +35.7%

TARA PROTARA THERAPEUTICS INC 0.3%

Value $4.9M (-19.1%) Shares 940,512 (-17.3%) Est. Cost $5.49 Unrealized +12.7%

JAZZ JAZZ PHARMACEUTICALS PLC 0.0%

Value $567K (-58.3%) Shares 3,000 (-62.5%) Est. Cost $139.35 Unrealized +21.3%

ACET ADICET BIO INC 0.0%

Value $367K (-66.2%) Shares 53,827 (-58.2%) Est. Cost $11.05 Unrealized -29.8%

MRK MERCK & CO INC 0.0%

Value $378K (-62.8%) Shares 3,140 (-67.4%) Est. Cost $79.64 Unrealized +43.5%

IVA INVENTIVA SA 0.7%

Value $12.07M (-4.2%) Shares 2,174,398 (-19.8%) Est. Cost $4.65 Unrealized —

ALEC ALECTOR INC 0.1%

Value $2.257M (+30.6%) Shares 1,050,000 (-5.2%) Est. Cost $1.77 Unrealized +7.5%

NRIX NURIX THERAPEUTICS INC 0.1%

Value $869K (-36.4%) Shares 56,070 (-22.2%) Est. Cost $15.51 Unrealized +11.8%

PCVX VAXCYTE INC 0.9%

Value $15.06M (+3.4%) Shares 259,137 (-17.9%) Est. Cost $38.70 Unrealized +36.3%

LRMR LARIMAR THERAPEUTICS INC 0.0%

Value $237K (-66.5%) Shares 52,745 (-71.6%) Est. Cost $2.31 Unrealized +49.5%

AGIO AGIOS PHARMACEUTICALS INC 0.3%

Value $4.759M (-7.0%) Shares 140,672 (-25.2%) Est. Cost $34.61 Unrealized -19.0%

KYTX KYVERNA THERAPEUTICS INC 0.0%

Value $194K (-64.1%) Shares 22,428 (-60.9%) Est. Cost $7.42 Unrealized +11.8%

ASND ASCENDIS PHARMA A/S 0.3%

Value $5.721M (+6.0%) Shares 25,014 (-1.2%) Est. Cost $196.64 Unrealized —

QNCX QUINCE THERAPEUTICS INC 0.0%

Value $5,070 (-98.1%) Shares 50,000 (-37.5%) Est. Cost $1.53 Unrealized +1.5%

ELDN ELEDON PHARMACEUTICALS INC 0.2%

Value $3.001M (+9.1%) Shares 974,421 (-46.5%) Est. Cost $2.38 Unrealized -12.3%

TECX TECTONIC THERAPEUTIC INC 0.0%

Value $402K (-35.8%) Shares 13,001 (-56.7%) Est. Cost $17.33 Unrealized +21.7%

TNGX TANGO THERAPEUTICS INC 0.1%

Value $1.046M (-15.7%) Shares 50,000 (-64.3%) Est. Cost $8.62 Unrealized +38.2%

OGN ORGANON & CO 0.0%

Value $59,900 (-76.1%) Shares 10,000 (-71.4%) Est. Cost $10.15 Unrealized -19.0%

IMMX IMMIX BIOPHARMA INC 0.0%

Value $91,100 (-65.2%) Shares 10,000 (-80.0%) Est. Cost $4.12 Unrealized +50.4%

GERN GERON CORP 0.0%

Value $298K (-32.8%) Shares 200,000 (-40.5%) Est. Cost $3.18 Unrealized -52.5%

ALKS ALKERMES PLC 0.1%

Value $1.641M (-7.9%) Shares 46,400 (-27.2%) Est. Cost $29.51 Unrealized +9.6%

KZR KEZAR LIFE SCIENCES INC 0.0%

Value $608K (-17.7%) Shares 81,933 (-30.2%) Est. Cost $6.03 Unrealized +4.5%

RCKT ROCKET PHARMACEUTICALS INC 0.1%

Value $1.548M (-7.3%) Shares 432,500 (-9.1%) Est. Cost $8.03 Unrealized -55.0%

KNSA KINIKSA PHARMACEUTICALS INTL 0.1%

Value $1.296M (+9.4%) Shares 26,913 (-6.3%) Est. Cost $25.79 Unrealized +67.4%

GILD GILEAD SCIENCES INC 0.1%

Value $885K (+8.2%) Shares 6,351 (-4.7%) Est. Cost $120.88 Unrealized +14.5%

CLOV CLOVER HEALTH INVESTMENTS CO 0.0%

Value $70,400 (-38.0%) Shares 40,000 (-17.2%) Est. Cost $3.50 Unrealized -33.9%

JBIO JADE BIOSCIENCES INC 0.0%

Value $281K (-13.3%) Shares 20,000 (-4.8%) Est. Cost $11.73 Unrealized +26.0%

NMRA NEUMORA THERAPEUTICS INC. 0.0%

Value $64,545 (-28.7%) Shares 33,100 (-34.6%) Est. Cost $2.19 Unrealized +12.4%

INO INOVIO PHARMACEUTICALS INC 0.2%

Value $2.558M (-1.0%) Shares 1,470,108 (-1.0%) Est. Cost $2.20 Unrealized -25.9%

BMY BRISTOL-MYERS SQUIBB CO 0.1%

Value $1.061M (-1.6%) Shares 17,500 (-12.5%) Est. Cost $47.53 Unrealized +20.8%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ROIV	ROIVANT SCIENCES LTD	3,285,906 (-4.2%)	$91.02M (+22.3%)	5.4%	$11.61	+108.3%	SHS	G76279101
FULC	FULCRUM THERAPEUTICS INC	130,560 (-89.6%)	$1.001M (-92.9%)	0.1%	$9.23	+12.4%	COM	359616109
PTGX	PROTAGONIST THERAPEUTICS INC	994,119 (-5.2%)	$105M (+14.3%)	6.2%	$31.93	+160.9%	COM	74366E102
ABUS	ARBUTUS BIOPHARMA CORP	3,133,175 (-42.1%)	$14.1M (-45.9%)	0.8%	$3.59	+19.6%	COM	03879J100
BBIO	BRIDGEBIO PHARMA INC	94,292 (-55.8%)	$7.002M (-57.1%)	0.4%	$30.21	+146.5%	COM	10806X102
TFX	TELEFLEX INCORPORATED	21,186 (-73.7%)	$2.534M (-74.2%)	0.1%	$121.00	-10.2%	COM	879369106
CBIO	CRESCENT BIOPHARMA INC.	50,273 (-91.7%)	$924K (-87.2%)	0.1%	$12.74	-13.2%	COM	G2545C104
SEPN	SEPTERNA INC	1,089,818 (-5.9%)	$26.19M (-18.9%)	1.5%	$11.55	+129.5%	COM	81734D104
MAZE	MAZE THERAPEUTICS INC	50,095 (-72.1%)	$1.495M (-79.9%)	0.1%	$31.83	+38.3%	COM	578784100
IKT	INHIBIKASE THERAPEUTICS INC	6,606,572 (-18.1%)	$11.1M (-32.9%)	0.7%	$2.17	-20.0%	COM NEW	45719W205
IVVD	INVIVYD INC	3,822,427 (-2.0%)	$4.969M (-48.4%)	0.3%	$0.89	+123.0%	COM	00534A102
QURE	UNIQURE NV	76,206 (-67.6%)	$1.246M (-77.9%)	0.1%	$27.00	-12.8%	SHS	N90064101
CLDX	CELLDEX THERAPEUTICS INC NEW	427,816 (-33.9%)	$13.57M (-22.7%)	0.8%	$25.54	-0.5%	COM NEW	15117B202
CRVS	CORVUS PHARMACEUTICALS INC	87,901 (-81.1%)	$1.286M (-64.2%)	0.1%	$7.89	+106.6%	COM	221015100
BIIB	BIOGEN INC	11,000 (-54.7%)	$2.017M (-52.8%)	0.1%	$151.97	+20.6%	COM	09062X103
BLTE	BELITE BIO INC	26,880 (-32.5%)	$4.286M (-32.7%)	0.3%	$159.96	—	SPONSORED ADS	07782B104
CGON	CG ONCOLOGY INC	185,699 (-28.1%)	$12.57M (+17.3%)	0.7%	$29.61	+77.1%	COM	156944100
ENGN	ENGENE HOLDINGS INC	133,686 (-56.0%)	$910K (-66.8%)	0.1%	$8.01	+20.6%	COM	29286M105
HELP	CYBIN INC	31,278 (-86.9%)	$150K (-92.3%)	0.0%	$6.53	+8.8%	COM NEW	23256X407
CTMX	CYTOMX THERAPEUTICS INC.	3,410,190 (-18.5%)	$16.03M (-10.0%)	0.9%	$1.83	+185.2%	COM	23284F105
RGNX	REGENXBIO INC	44,416 (-69.3%)	$372K (-82.2%)	0.0%	$9.76	+18.9%	COM	75901B107
CLYM	CLIMB BIO INC	597,662 (-58.3%)	$4.094M (-28.6%)	0.2%	$2.51	+99.4%	COM	28658R106
RVMD	REVOLUTION MEDICINES INC	133,893 (-7.7%)	$13.02M (+12.7%)	0.8%	$48.72	+111.4%	COM	76155X100
ACRS	ACLARIS THERAPEUTICS INC	132,426 (-78.4%)	$497K (-73.1%)	0.0%	$2.05	+62.5%	COM	00461U105
EQ	EQUILLIUM INC	3,726,659 (-33.5%)	$7.453M (-14.3%)	0.4%	$1.06	+35.7%	COM	29446K106
TARA	PROTARA THERAPEUTICS INC	940,512 (-17.3%)	$4.9M (-19.1%)	0.3%	$5.49	+12.7%	COM STK	74365U107
JAZZ	JAZZ PHARMACEUTICALS PLC	3,000 (-62.5%)	$567K (-58.3%)	0.0%	$139.35	+21.3%	SHS USD	G50871105
ACET	ADICET BIO INC	53,827 (-58.2%)	$367K (-66.2%)	0.0%	$11.05	-29.8%	COM NEW	007002207
MRK	MERCK & CO INC	3,140 (-67.4%)	$378K (-62.8%)	0.0%	$79.64	+43.5%	COM	58933Y105
IVA	INVENTIVA SA	2,174,398 (-19.8%)	$12.07M (-4.2%)	0.7%	$4.65	—	ADS	46124U107
ALEC	ALECTOR INC	1,050,000 (-5.2%)	$2.257M (+30.6%)	0.1%	$1.77	+7.5%	COM	014442107
NRIX	NURIX THERAPEUTICS INC	56,070 (-22.2%)	$869K (-36.4%)	0.1%	$15.51	+11.8%	COM	67080M103
PCVX	VAXCYTE INC	259,137 (-17.9%)	$15.06M (+3.4%)	0.9%	$38.70	+36.3%	COM	92243G108
LRMR	LARIMAR THERAPEUTICS INC	52,745 (-71.6%)	$237K (-66.5%)	0.0%	$2.31	+49.5%	COM	517125100
AGIO	AGIOS PHARMACEUTICALS INC	140,672 (-25.2%)	$4.759M (-7.0%)	0.3%	$34.61	-19.0%	COM	00847X104
KYTX	KYVERNA THERAPEUTICS INC	22,428 (-60.9%)	$194K (-64.1%)	0.0%	$7.42	+11.8%	COM	501976104
ASND	ASCENDIS PHARMA A/S	25,014 (-1.2%)	$5.721M (+6.0%)	0.3%	$196.64	—	SPONSORED ADR	04351P101
QNCX	QUINCE THERAPEUTICS INC	50,000 (-37.5%)	$5,070 (-98.1%)	0.0%	$1.53	+1.5%	PUT	22053A107
ELDN	ELEDON PHARMACEUTICALS INC	974,421 (-46.5%)	$3.001M (+9.1%)	0.2%	$2.38	-12.3%	COM	28617K101
TECX	TECTONIC THERAPEUTIC INC	13,001 (-56.7%)	$402K (-35.8%)	0.0%	$17.33	+21.7%	COM	878972108
TNGX	TANGO THERAPEUTICS INC	50,000 (-64.3%)	$1.046M (-15.7%)	0.1%	$8.62	+38.2%	COM	87583X109
OGN	ORGANON & CO	10,000 (-71.4%)	$59,900 (-76.1%)	0.0%	$10.15	-19.0%	COMMON STOCK	68622V106
IMMX	IMMIX BIOPHARMA INC	10,000 (-80.0%)	$91,100 (-65.2%)	0.0%	$4.12	+50.4%	COM	45258H106
GERN	GERON CORP	200,000 (-40.5%)	$298K (-32.8%)	0.0%	$3.18	-52.5%	COM	374163103
ALKS	ALKERMES PLC	46,400 (-27.2%)	$1.641M (-7.9%)	0.1%	$29.51	+9.6%	SHS	G01767105
KZR	KEZAR LIFE SCIENCES INC	81,933 (-30.2%)	$608K (-17.7%)	0.0%	$6.03	+4.5%	COM NEW	49372L209
RCKT	ROCKET PHARMACEUTICALS INC	432,500 (-9.1%)	$1.548M (-7.3%)	0.1%	$8.03	-55.0%	COM	77313F106
KNSA	KINIKSA PHARMACEUTICALS INTL	26,913 (-6.3%)	$1.296M (+9.4%)	0.1%	$25.79	+67.4%	ORD SHS CL A	G52694109
GILD	GILEAD SCIENCES INC	6,351 (-4.7%)	$885K (+8.2%)	0.1%	$120.88	+14.5%	COM	375558103
CLOV	CLOVER HEALTH INVESTMENTS CO	40,000 (-17.2%)	$70,400 (-38.0%)	0.0%	$3.50	-33.9%	COM CL A	18914F103
JBIO	JADE BIOSCIENCES INC	20,000 (-4.8%)	$281K (-13.3%)	0.0%	$11.73	+26.0%	COM NEW	008064206
NMRA	NEUMORA THERAPEUTICS INC.	33,100 (-34.6%)	$64,545 (-28.7%)	0.0%	$2.19	+12.4%	COM	640979100
INO	INOVIO PHARMACEUTICALS INC	1,470,108 (-1.0%)	$2.558M (-1.0%)	0.2%	$2.20	-25.9%	COM SHS	45773H409
BMY	BRISTOL-MYERS SQUIBB CO	17,500 (-12.5%)	$1.061M (-1.6%)	0.1%	$47.53	+20.8%	COM	110122108

Unchanged Positions (75)

GUTS FRACTYL HEALTH INC 0.0%

Value $654K Shares 1,428,571 Est. Cost — Unrealized —

EVMN EVOMMUNE INC 0.2%

Value $4.232M Shares 184,062 Est. Cost $18.78 Unrealized +17.1%

MASI MASIMO CORP 0.2%

Value $2.668M Shares 15,000 Est. Cost $151.39 Unrealized -4.1%

EWTX EDGEWISE THERAPEUTICS INC 0.2%

Value $2.854M Shares 90,599 Est. Cost $20.18 Unrealized +39.6%

BIOA BIOAGE LABS INC 0.1%

Value $2.371M Shares 135,560 Est. Cost $5.13 Unrealized +274.4%

CNTA CENTESSA PHARMACEUTICALS PLC 0.1%

Value $1.532M Shares 38,566 Est. Cost $14.81 Unrealized —

BHF BRIGHTHOUSE FINL INC 0.3%

Value $5.72M Shares 95,523 Est. Cost $57.72 Unrealized +10.7%

CTNM CONTINEUM THERAPEUTICS INC 0.2%

Value $3.613M Shares 276,661 Est. Cost $11.73 Unrealized +13.8%

CNTX CONTEXT THERAPEUTICS INC 0.1%

Value $920K Shares 351,094 Est. Cost $1.53 Unrealized +33.7%

BOXX EA SERIES TRUST 2.3%

Value $39.2M Shares 337,125 Est. Cost $106.76 Unrealized —

ORKA ORUKA THERAPEUTICS INC 0.1%

Value $1.022M Shares 20,840 Est. Cost $12.33 Unrealized +163.2%

NAMS NEWAMSTERDAM PHARMA COMPANY 0.2%

Value $3.797M Shares 118,623 Est. Cost $18.99 Unrealized +77.7%

KLRS KALARIS THERAPEUTICS INC 0.0%

Value $577K Shares 100,000 Est. Cost $6.39 Unrealized +46.6%

KRYS KRYSTAL BIOTECH INC 0.3%

Value $5.17M Shares 20,014 Est. Cost $154.21 Unrealized +76.6%

PHAT PHATHOM PHARMACEUTICALS INC 0.0%

Value $477K Shares 42,900 Est. Cost $10.16 Unrealized +34.8%

FDMT 4D MOLECULAR THERAPEUTICS IN 0.1%

Value $1.087M Shares 116,712 Est. Cost $9.55 Unrealized -10.2%

AEXA AMERICAN EXCEPTIONALISM ACQU 0.2%

Value $3.872M Shares 357,539 Est. Cost $11.17 Unrealized +2.7%

CGEM CULLINAN THERAPEUTICS INC 0.0%

Value $711K Shares 50,000 Est. Cost $9.02 Unrealized +32.7%

OABI OMNIAB INC 0.1%

Value $1.107M Shares 705,190 Est. Cost $2.12 Unrealized -13.8%

DCTH DELCATH SYS INC 0.1%

Value $2.082M Shares 224,385 Est. Cost $9.75 Unrealized +2.4%

GLUE MONTE ROSA THERAPEUTICS INC 0.2%

Value $3.549M Shares 215,752 Est. Cost $5.30 Unrealized +290.1%

SMMT SUMMIT THERAPEUTICS INC 0.1%

Value $1.742M Shares 91,869 Est. Cost $24.08 Unrealized -32.7%

JSPR JASPER THERAPEUTICS INC 0.0%

Value $123K Shares 140,000 Est. Cost $2.01 Unrealized -26.0%

TRAW TRAWS PHARMA INC 0.0%

Value $282K Shares 154,098 Est. Cost $2.22 Unrealized -15.8%

ACHV ACHIEVE LIFE SCIENCE INC 0.0%

Value $141K Shares 47,800 Est. Cost $3.47 Unrealized +37.8%

KURA KURA ONCOLOGY INC 0.0%

Value $325K Shares 40,000 Est. Cost $7.26 Unrealized +18.6%

REGN REGENERON PHARMACEUTICALS 0.6%

Value $9.391M Shares 12,154 Est. Cost $601.77 Unrealized +27.8%

MIST MILESTONE PHARMACEUTICALS IN 0.0%

Value $119K Shares 100,000 Est. Cost $2.15 Unrealized -12.0%

TXMD THERAPEUTICSMD INC 0.0%

Value $423K Shares 209,210 Est. Cost $2.41 Unrealized -6.1%

ARVN ARVINAS INC 0.0%

Value $610K Shares 57,591 Est. Cost $15.67 Unrealized -19.8%

BABA ALIBABA GROUP HLDG LTD 0.0%

Value $449K Shares 3,578 Est. Cost $178.73 Unrealized —

SGRY SURGERY PARTNERS INC 0.0%

Value $238K Shares 20,000 Est. Cost $23.67 Unrealized -35.5%

BNTX BIONTECH SE 0.1%

Value $889K Shares 10,000 Est. Cost $98.62 Unrealized —

NTRA NATERA INC 0.0%

Value $429K Shares 2,147 Est. Cost $208.59 Unrealized +8.3%

KALA KALA BIO INC 0.0%

Value $24,490 Shares 141,480 Est. Cost $6.86 Unrealized -92.5%

MCK MCKESSON CORP 0.1%

Value $1.038M Shares 1,200 Est. Cost $815.57 Unrealized +7.3%

SUPN SUPERNUS PHARMACEUTICALS 0.1%

Value $1.532M Shares 29,642 Est. Cost $44.57 Unrealized +13.3%

MDGL MADRIGAL PHARMACEUTICALS INC 0.0%

Value $469K Shares 895 Est. Cost $363.50 Unrealized +35.5%

IWM ISHARES TR 0.4%

Value $6.82M Shares 27,500 Est. Cost $246.16 Unrealized —

BCAX BICARA THERAPEUTICS INC 0.0%

Value $273K Shares 13,705 Est. Cost $11.92 Unrealized +36.7%

PRAX PRAXIS PRECISION MEDICINES I 0.0%

Value $483K Shares 1,500 Est. Cost $186.22 Unrealized +67.4%

KALV KALVISTA PHARMACEUTICALS INC 0.0%

Value $201K Shares 10,000 Est. Cost $11.39 Unrealized +36.0%

KIDS ORTHOPEDIATRICS CORP 0.0%

Value $315K Shares 19,845 Est. Cost $17.51 Unrealized +0.5%

RXRX RECURSION PHARMACEUTICALS IN 0.0%

Value $107K Shares 35,000 Est. Cost $5.88 Unrealized -29.0%

BIL SPDR SERIES TRUST 0.7%

Value $12.43M Shares 135,585 Est. Cost $91.43 Unrealized —

TNYA TENAYA THERAPEUTICS INC 0.1%

Value $1.044M Shares 1,507,800 Est. Cost $1.36 Unrealized -46.6%

ELAN ELANCO ANIMAL HEALTH INC 0.0%

Value $479K Shares 20,000 Est. Cost $21.76 Unrealized +12.9%

IDYA IDEAYA BIOSCIENCES INC 0.0%

Value $666K Shares 20,000 Est. Cost $24.19 Unrealized +40.0%

GMED GLOBUS MED INC 0.1%

Value $1.732M Shares 20,100 Est. Cost $75.90 Unrealized +20.0%

KYNB KYNTRA BIO INC 0.0%

Value $70,980 Shares 10,469 Est. Cost $9.77 Unrealized -14.5%

KVAC KEEN VISION ACQUISITION CORP 0.1%

Value $900K Shares 75,000 Est. Cost — Unrealized —

BSAAU BEST SPAC I ACQUISITION CORP 0.1%

Value $1.04M Shares 100,000 Est. Cost $10.04 Unrealized —

OACCU OAKTREE ACQUISITION CORP III 0.3%

Value $5.501M Shares 516,482 Est. Cost $10.14 Unrealized —

CCIIU COHEN CIRCLE ACQUISIT CORP I 0.1%

Value $1.551M Shares 150,000 Est. Cost $10.28 Unrealized —

MREO MEREO BIOPHARMA GROUP PLC 0.0%

Value $49,500 Shares 150,000 Est. Cost $0.42 Unrealized —

BMEA BIOMEA FUSION INC 0.0%

Value $66,433 Shares 43,420 Est. Cost $1.40 Unrealized -6.4%

CORZ CORE SCIENTIFIC INC NEW 0.0%

Value $449K Shares 30,000 Est. Cost $17.44 Unrealized +1.5%

CMPX COMPASS THERAPEUTICS INC 0.0%

Value $735K Shares 139,000 Est. Cost $3.90 Unrealized +54.0%

LITS LITE STRATEGY INC 0.0%

Value $78,059 Shares 67,292 Est. Cost $4.12 Unrealized -69.7%

STI SOLIDION TECHNOLOGY INC 0.0%

Value $85,185 Shares 13,500 Est. Cost — Unrealized —

JD JD.COM INC 0.0%

Value $296K Shares 10,000 Est. Cost $34.98 Unrealized —

KPRX KIORA PHARMACEUTICALS INC 0.0%

Value $324K Shares 167,941 Est. Cost $4.55 Unrealized -52.8%

CMMB CHEMOMAB THERAPEUTICS LTD 0.0%

Value $126K Shares 80,000 Est. Cost $1.65 Unrealized —

NEUP NEUPHORIA THERAPEUTICS INC 0.0%

Value $122K Shares 30,000 Est. Cost $7.10 Unrealized -42.3%

PYPD POLYPID LTD 0.0%

Value $455K Shares 103,950 Est. Cost $3.71 Unrealized +21.5%

PRQR PROQR THRAPEUTICS N V 0.0%

Value $16,200 Shares 10,000 Est. Cost $3.18 Unrealized -48.5%

GTERU GLOBA TERRA ACQUISITION COR 0.0%

Value $518K Shares 50,000 Est. Cost $10.17 Unrealized —

CHRS COHERUS ONCOLOGY INC 0.0%

Value $17,519 Shares 10,366 Est. Cost $0.86 Unrealized +111.0%

PCAPU PROCAP ACQUISITION CORP 0.0%

Value $279K Shares 26,940 Est. Cost $10.59 Unrealized —

VERU VERU INC 0.0%

Value $77,350 Shares 35,000 Est. Cost $2.98 Unrealized -17.3%

VYGR VOYAGER THERAPEUTICS INC 0.0%

Value $135K Shares 35,000 Est. Cost $5.94 Unrealized —

EA ELECTRONIC ARTS INC 0.1%

Value $1.006M Shares 4,936 Est. Cost $165.25 Unrealized +22.6%

ASPCR A SPAC III ACQUISITION CORP 0.0%

Value $42,441 Shares 215,000 Est. Cost $0.14 Unrealized —

USFR WISDOMTREE TR 0.0%

Value $503K Shares 10,000 Est. Cost $50.24 Unrealized —

ATYR ATYR PHARMA INC 0.0%

Value $39,534 Shares 50,685 Est. Cost $4.53 Unrealized -81.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GUTS	FRACTYL HEALTH INC	1,428,571	$654K	0.0%	—	—	CALL	35168W103
EVMN	EVOMMUNE INC	184,062	$4.232M	0.2%	$18.78	+17.1%	COM SHS	30054Y107
MASI	MASIMO CORP	15,000	$2.668M	0.2%	$151.39	-4.1%	COM	574795100
EWTX	EDGEWISE THERAPEUTICS INC	90,599	$2.854M	0.2%	$20.18	+39.6%	COM	28036F105
BIOA	BIOAGE LABS INC	135,560	$2.371M	0.1%	$5.13	+274.4%	COM	09077V100
CNTA	CENTESSA PHARMACEUTICALS PLC	38,566	$1.532M	0.1%	$14.81	—	SPONSORED ADS	152309100
BHF	BRIGHTHOUSE FINL INC	95,523	$5.72M	0.3%	$57.72	+10.7%	COM	10922N103
CTNM	CONTINEUM THERAPEUTICS INC	276,661	$3.613M	0.2%	$11.73	+13.8%	CL A	21217B100
CNTX	CONTEXT THERAPEUTICS INC	351,094	$920K	0.1%	$1.53	+33.7%	COM	21077P108
BOXX	EA SERIES TRUST	337,125	$39.2M	2.3%	$106.76	—	ALPHA ARCH 1-3	02072L565
ORKA	ORUKA THERAPEUTICS INC	20,840	$1.022M	0.1%	$12.33	+163.2%	COM	687604108
NAMS	NEWAMSTERDAM PHARMA COMPANY	118,623	$3.797M	0.2%	$18.99	+77.7%	ORDINARY SHARES	N62509109
KLRS	KALARIS THERAPEUTICS INC	100,000	$577K	0.0%	$6.39	+46.6%	COM	482929106
KRYS	KRYSTAL BIOTECH INC	20,014	$5.17M	0.3%	$154.21	+76.6%	COM	501147102
PHAT	PHATHOM PHARMACEUTICALS INC	42,900	$477K	0.0%	$10.16	+34.8%	COM	71722W107
FDMT	4D MOLECULAR THERAPEUTICS IN	116,712	$1.087M	0.1%	$9.55	-10.2%	COM	35104E100
AEXA	AMERICAN EXCEPTIONALISM ACQU	357,539	$3.872M	0.2%	$11.17	+2.7%	ORD CL A	G0273J101
CGEM	CULLINAN THERAPEUTICS INC	50,000	$711K	0.0%	$9.02	+32.7%	COM	230031106
OABI	OMNIAB INC	705,190	$1.107M	0.1%	$2.12	-13.8%	COM	68218J103
DCTH	DELCATH SYS INC	224,385	$2.082M	0.1%	$9.75	+2.4%	COM NEW	24661P807
GLUE	MONTE ROSA THERAPEUTICS INC	215,752	$3.549M	0.2%	$5.30	+290.1%	COM	61225M102
SMMT	SUMMIT THERAPEUTICS INC	91,869	$1.742M	0.1%	$24.08	-32.7%	COM	86627T108
JSPR	JASPER THERAPEUTICS INC	140,000	$123K	0.0%	$2.01	-26.0%	COM NEW	471871202
TRAW	TRAWS PHARMA INC	154,098	$282K	0.0%	$2.22	-15.8%	COM NEW	68232V884
ACHV	ACHIEVE LIFE SCIENCE INC	47,800	$141K	0.0%	$3.47	+37.8%	COM	004468500
KURA	KURA ONCOLOGY INC	40,000	$325K	0.0%	$7.26	+18.6%	COM	50127T109
REGN	REGENERON PHARMACEUTICALS	12,154	$9.391M	0.6%	$601.77	+27.8%	COM	75886F107
MIST	MILESTONE PHARMACEUTICALS IN	100,000	$119K	0.0%	$2.15	-12.0%	COM	59935V107
TXMD	THERAPEUTICSMD INC	209,210	$423K	0.0%	$2.41	-6.1%	COM NEW	88338N206
ARVN	ARVINAS INC	57,591	$610K	0.0%	$15.67	-19.8%	COM	04335A105
BABA	ALIBABA GROUP HLDG LTD	3,578	$449K	0.0%	$178.73	—	SPONSORED ADS	01609W102
SGRY	SURGERY PARTNERS INC	20,000	$238K	0.0%	$23.67	-35.5%	COM	86881A100
BNTX	BIONTECH SE	10,000	$889K	0.1%	$98.62	—	SPONSORED ADS	09075V102
NTRA	NATERA INC	2,147	$429K	0.0%	$208.59	+8.3%	COM	632307104
KALA	KALA BIO INC	141,480	$24,490	0.0%	$6.86	-92.5%	COM NEW	483119202
MCK	MCKESSON CORP	1,200	$1.038M	0.1%	$815.57	+7.3%	COM	58155Q103
SUPN	SUPERNUS PHARMACEUTICALS	29,642	$1.532M	0.1%	$44.57	+13.3%	COM	868459108
MDGL	MADRIGAL PHARMACEUTICALS INC	895	$469K	0.0%	$363.50	+35.5%	COM	558868105
IWM	ISHARES TR	27,500	$6.82M	0.4%	$246.16	—	PUT	464287655
BCAX	BICARA THERAPEUTICS INC	13,705	$273K	0.0%	$11.92	+36.7%	COM	055477103
PRAX	PRAXIS PRECISION MEDICINES I	1,500	$483K	0.0%	$186.22	+67.4%	COM NEW	74006W207
KALV	KALVISTA PHARMACEUTICALS INC	10,000	$201K	0.0%	$11.39	+36.0%	COM	483497103
KIDS	ORTHOPEDIATRICS CORP	19,845	$315K	0.0%	$17.51	+0.5%	COM	68752L100
RXRX	RECURSION PHARMACEUTICALS IN	35,000	$107K	0.0%	$5.88	-29.0%	CL A	75629V104
BIL	SPDR SERIES TRUST	135,585	$12.43M	0.7%	$91.43	—	STATE STREET SPD	78468R663
TNYA	TENAYA THERAPEUTICS INC	1,507,800	$1.044M	0.1%	$1.36	-46.6%	COM	87990A106
ELAN	ELANCO ANIMAL HEALTH INC	20,000	$479K	0.0%	$21.76	+12.9%	COM	28414H103
IDYA	IDEAYA BIOSCIENCES INC	20,000	$666K	0.0%	$24.19	+40.0%	COM	45166A102
GMED	GLOBUS MED INC	20,100	$1.732M	0.1%	$75.90	+20.0%	CL A	379577208
KYNB	KYNTRA BIO INC	10,469	$70,980	0.0%	$9.77	-14.5%	COM NEW	31572Q881
KVAC	KEEN VISION ACQUISITION CORP	75,000	$900K	0.1%	—	—	CALL	G52443119
BSAAU	BEST SPAC I ACQUISITION CORP	100,000	$1.04M	0.1%	$10.04	—	UNIT 05/27/2030	G1069P137
OACCU	OAKTREE ACQUISITION CORP III	516,482	$5.501M	0.3%	$10.14	—	UNIT 10/04/2029	G6717R120
CCIIU	COHEN CIRCLE ACQUISIT CORP I	150,000	$1.551M	0.1%	$10.28	—	UNIT 07/01/2030	G2254C105
MREO	MEREO BIOPHARMA GROUP PLC	150,000	$49,500	0.0%	$0.42	—	SPON ADS	589492107
BMEA	BIOMEA FUSION INC	43,420	$66,433	0.0%	$1.40	-6.4%	COM	09077A106
CORZ	CORE SCIENTIFIC INC NEW	30,000	$449K	0.0%	$17.44	+1.5%	COM	21874A106
CMPX	COMPASS THERAPEUTICS INC	139,000	$735K	0.0%	$3.90	+54.0%	COM	20454B104
LITS	LITE STRATEGY INC	67,292	$78,059	0.0%	$4.12	-69.7%	COM	55279B301
STI	SOLIDION TECHNOLOGY INC	13,500	$85,185	0.0%	—	—	CALL	834212201
JD	JD.COM INC	10,000	$296K	0.0%	$34.98	—	SPON ADS CL A	47215P106
KPRX	KIORA PHARMACEUTICALS INC	167,941	$324K	0.0%	$4.55	-52.8%	COM	49721T507
CMMB	CHEMOMAB THERAPEUTICS LTD	80,000	$126K	0.0%	$1.65	—	SPONSORED ADS	16385C203
NEUP	NEUPHORIA THERAPEUTICS INC	30,000	$122K	0.0%	$7.10	-42.3%	COM	64136E102
PYPD	POLYPID LTD	103,950	$455K	0.0%	$3.71	+21.5%	COM	M8001Q126
PRQR	PROQR THRAPEUTICS N V	10,000	$16,200	0.0%	$3.18	-48.5%	SHS EURO	N71542109
GTERU	GLOBA TERRA ACQUISITION COR	50,000	$518K	0.0%	$10.17	—	UNIT 99/99/9999	G3933N108
CHRS	COHERUS ONCOLOGY INC	10,366	$17,519	0.0%	$0.86	+111.0%	COM	19249H103
PCAPU	PROCAP ACQUISITION CORP	26,940	$279K	0.0%	$10.59	—	UNIT 05/16/2030	G7257A113
VERU	VERU INC	35,000	$77,350	0.0%	$2.98	-17.3%	COM NEW	92536C202
VYGR	VOYAGER THERAPEUTICS INC	35,000	$135K	0.0%	$5.94	—	COM	92915B106
EA	ELECTRONIC ARTS INC	4,936	$1.006M	0.1%	$165.25	+22.6%	COM	285512109
ASPCR	A SPAC III ACQUISITION CORP	215,000	$42,441	0.0%	$0.14	—	RIGHT 01/02/2026	G0544A145
USFR	WISDOMTREE TR	10,000	$503K	0.0%	$50.24	—	FLOATNG RAT TREA	97717Y527
ATYR	ATYR PHARMA INC	50,685	$39,534	0.0%	$4.53	-81.7%	COM NEW	002120202