Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TRAX	FIRST TRACKS BIOTHERAPEUTICS	1,514,000	$30.46M	4.8%	—	—	ORD SHS	337185102
BMRN	BIOMARIN PHARMACEUTICAL INC	512,000	$29.3M	4.7%	—	—	COM	09061G101
INSM	INSMED INC	230,331	$24.56M	3.9%	—	—	COM PAR $.01	457669307
KLRA	KAILERA THERAPEUTICS INC	984,786	$21.69M	3.4%	—	—	COMMON STOCK	482931102
INCY	INCYTE CORP	155,000	$17.57M	2.8%	—	—	COM	45337C102
AVTX	AVALO THERAPEUTICS INC	891,881	$16.48M	2.6%	—	—	COM NEW	05338F306
MLTX	MOONLAKE IMMUNOTHERAPEUTICS	750,000	$14.6M	2.3%	—	—	CLASS A ORD	61559X104
AURA	AURA BIOSCIENCES INC	1,443,333	$10.25M	1.6%	—	—	COM	05153U107
ALT	ALTIMMUNE INC	2,660,000	$8.086M	1.3%	—	—	COM NEW	02155H200
OKUR	ONKURE THERAPEUTICS INC	1,438,456	$6.559M	1.0%	—	—	COM CL A	68277Q105
FBRX	FORTE BIOSCIENCES INC	273,181	$5.805M	0.9%	—	—	COM NEW	34962G208
RACC	RESEARCH ALLIANCE CORP III	500,000	$5.35M	0.8%	—	—	ORD SHS CL A	G75226103
IMA	IMAGENEBIO INC	282,004	$1.664M	0.3%	—	—	COM	45175G207

Increased Positions (10)

DSGN DESIGN THERAPEUTICS INC 4.6%

Value $28.96M (+219.4%) Shares 2,001,282 (+134.9%) Est. Cost — Unrealized —

FDMT 4D MOLECULAR THERAPEUTICS IN 4.7%

Value $29.63M (+144.3%) Shares 2,227,917 (+71.0%) Est. Cost — Unrealized —

LBRX LB PHARMACEUTICALS INC 7.8%

Value $49.43M (+51.9%) Shares 1,523,022 (+15.4%) Est. Cost — Unrealized —

IMCR IMMUNOCORE HLDGS PLC 5.4%

Value $33.76M (+64.0%) Shares 1,063,234 (+55.8%) Est. Cost — Unrealized —

IRD OPUS GENETICS INC 1.8%

Value $11.28M (+395.7%) Shares 2,743,658 (+448.7%) Est. Cost — Unrealized —

SNSE FAETH THERAPEUTICS INC 2.0%

Value $12.88M (+227.0%) Shares 515,335 (+312.3%) Est. Cost — Unrealized —

SNDX SYNDAX PHARMACEUTICALS INC 3.9%

Value $24.26M (+48.0%) Shares 1,110,000 (+58.2%) Est. Cost — Unrealized —

IKT INHIBIKASE THERAPEUTICS INC 2.9%

Value $18.37M (+35.7%) Shares 9,051,318 (+12.3%) Est. Cost — Unrealized —

IPSC CENTURY THERAPEUTICS INC 1.6%

Value $10.13M (+83.0%) Shares 4,134,969 (+68.8%) Est. Cost — Unrealized —

SLGL SOL-GEL TECHNOLOGIES LTD 1.6%

Value $10.34M (+52.6%) Shares 139,445 (+63.1%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
DSGN	DESIGN THERAPEUTICS INC	2,001,282 (+134.9%)	$28.96M (+219.4%)	4.6%	—	—	COM	25056L103
FDMT	4D MOLECULAR THERAPEUTICS IN	2,227,917 (+71.0%)	$29.63M (+144.3%)	4.7%	—	—	COM	35104E100
LBRX	LB PHARMACEUTICALS INC	1,523,022 (+15.4%)	$49.43M (+51.9%)	7.8%	—	—	COM SHS	50180M108
IMCR	IMMUNOCORE HLDGS PLC	1,063,234 (+55.8%)	$33.76M (+64.0%)	5.4%	—	—	ADS	45258D105
IRD	OPUS GENETICS INC	2,743,658 (+448.7%)	$11.28M (+395.7%)	1.8%	—	—	COM	67577R102
SNSE	FAETH THERAPEUTICS INC	515,335 (+312.3%)	$12.88M (+227.0%)	2.0%	—	—	COM NEW	81728A207
SNDX	SYNDAX PHARMACEUTICALS INC	1,110,000 (+58.2%)	$24.26M (+48.0%)	3.9%	—	—	COM	87164F105
IKT	INHIBIKASE THERAPEUTICS INC	9,051,318 (+12.3%)	$18.37M (+35.7%)	2.9%	—	—	COM NEW	45719W205
IPSC	CENTURY THERAPEUTICS INC	4,134,969 (+68.8%)	$10.13M (+83.0%)	1.6%	—	—	COM	15673T100
SLGL	SOL-GEL TECHNOLOGIES LTD	139,445 (+63.1%)	$10.34M (+52.6%)	1.6%	—	—	SHS NEW	M8694L137

Exited Positions (5)

PCVX VAXCYTE INC 6.1%

Value $38.5M Shares 662,470 Est. Cost — Unrealized —

DFTX DEFINIUM THERAPEUTICS INC 5.2%

Value $32.85M Shares 1,738,110 Est. Cost — Unrealized —

RCUS ARCUS BIOSCIENCES INC 3.6%

Value $22.64M Shares 1,047,935 Est. Cost — Unrealized —

XENE XENON PHARMACEUTICALS INC 1.8%

Value $11.63M Shares 200,000 Est. Cost — Unrealized —

IMVT IMMUNOVANT INC 1.6%

Value $10.29M Shares 414,054 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PCVX	VAXCYTE INC	662,470	$38.5M	6.1%	—	—	—	92243G108
DFTX	DEFINIUM THERAPEUTICS INC	1,738,110	$32.85M	5.2%	—	—	—	24477V105
RCUS	ARCUS BIOSCIENCES INC	1,047,935	$22.64M	3.6%	—	—	—	03969F109
XENE	XENON PHARMACEUTICALS INC	200,000	$11.63M	1.8%	—	—	PUT	98420N105
IMVT	IMMUNOVANT INC	414,054	$10.29M	1.6%	—	—	—	45258J102

Decreased Positions (6)

NRIX NURIX THERAPEUTICS INC 6.1%

Value $38.17M (+41.3%) Shares 1,573,220 (-9.8%) Est. Cost — Unrealized —

NGNE NEUROGENE INC 3.6%

Value $22.48M (+42.5%) Shares 714,885 (-8.7%) Est. Cost — Unrealized —

CYTK CYTOKINETICS INC 3.9%

Value $24.54M (+24.1%) Shares 288,089 (-4.0%) Est. Cost — Unrealized —

MIRM MIRUM PHARMACEUTICALS INC 4.2%

Value $26.14M (-15.1%) Shares 223,312 (-33.0%) Est. Cost — Unrealized —

VTVT VTV THERAPEUTICS INC 0.5%

Value $3.207M (-42.1%) Shares 85,192 (-39.0%) Est. Cost — Unrealized —

RVMD REVOLUTION MEDICINES INC 3.4%

Value $21.68M (-9.0%) Shares 115,750 (-52.8%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NRIX	NURIX THERAPEUTICS INC	1,573,220 (-9.8%)	$38.17M (+41.3%)	6.1%	—	—	COM	67080M103
NGNE	NEUROGENE INC	714,885 (-8.7%)	$22.48M (+42.5%)	3.6%	—	—	COM	64135M105
CYTK	CYTOKINETICS INC	288,089 (-4.0%)	$24.54M (+24.1%)	3.9%	—	—	COM NEW	23282W605
MIRM	MIRUM PHARMACEUTICALS INC	223,312 (-33.0%)	$26.14M (-15.1%)	4.2%	—	—	COM	604749101
VTVT	VTV THERAPEUTICS INC	85,192 (-39.0%)	$3.207M (-42.1%)	0.5%	—	—	CL A NEW	918385204
RVMD	REVOLUTION MEDICINES INC	115,750 (-52.8%)	$21.68M (-9.0%)	3.4%	—	—	COM	76155X100

Unchanged Positions (6)

IVA INVENTIVA SA 1.6%

Value $10.05M Shares 2,657,997 Est. Cost — Unrealized —

XFOR X4 PHARMACEUTICALS INC 1.9%

Value $12.01M Shares 2,571,478 Est. Cost — Unrealized —

XENE XENON PHARMACEUTICALS INC 4.2%

Value $26.56M Shares 440,000 Est. Cost — Unrealized —

NERV MINERVA NEUROSCIENCES INC 1.3%

Value $7.875M Shares 1,419,000 Est. Cost — Unrealized —

PMN PROMIS NEUROSCIENCES INC 1.2%

Value $7.331M Shares 557,103 Est. Cost — Unrealized —

CAMP CAMP4 THERAPEUTICS CORP 1.3%

Value $8.447M Shares 1,932,937 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IVA	INVENTIVA SA	2,657,997	$10.05M	1.6%	—	—	ADS	46124U107
XFOR	X4 PHARMACEUTICALS INC	2,571,478	$12.01M	1.9%	—	—	COM NEW	98420X202
XENE	XENON PHARMACEUTICALS INC	440,000	$26.56M	4.2%	—	—	COM	98420N105
NERV	MINERVA NEUROSCIENCES INC	1,419,000	$7.875M	1.3%	—	—	COM NEW	603380205
PMN	PROMIS NEUROSCIENCES INC	557,103	$7.331M	1.2%	—	—	COM SHS	74346M505
CAMP	CAMP4 THERAPEUTICS CORP	1,932,937	$8.447M	1.3%	—	—	COM	13463J101