SECTORAL ASSET MANAGEMENT INC Diversified Active

CIK: 0001274413 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 9, 2026

Total Value ($000): $124,752 (100.0% shares, 0.0% debt)

Holdings (74)

New Positions (6)

EVMN EVOMMUNE INC 8.1%

Value ($000) $10,084 Shares 589,005 Est. Cost $18.78 Unrealized 0.0%

COGT COGENT BIOSCIENCES INC 0.9%

Value ($000) $1,161 Shares 32,685 Est. Cost $28.11 Unrealized 0.0%

LENZ LENZ THERAPEUTICS INC 0.5%

Value ($000) $680 Shares 42,500 Est. Cost $29.15 Unrealized 0.0%

INSP INSPIRE MED SYS INC 0.5%

Value ($000) $664 Shares 7,200 Est. Cost $95.68 Unrealized 0.0%

CARL CARLSMED INC 0.5%

Value ($000) $589 Shares 47,700 Est. Cost $13.31 Unrealized 0.0%

NKTR NEKTAR THERAPEUTICS 0.5%

Value ($000) $570 Shares 13,485 Est. Cost $55.96 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EVMN	EVOMMUNE INC	589,005	$10,084	8.1%	$18.78	0.0%	COM SHS	30054Y107
COGT	COGENT BIOSCIENCES INC	32,685	$1,161	0.9%	$28.11	0.0%	COM	19240Q201
LENZ	LENZ THERAPEUTICS INC	42,500	$680	0.5%	$29.15	0.0%	COM	52635N103
INSP	INSPIRE MED SYS INC	7,200	$664	0.5%	$95.68	0.0%	COM	457730109
CARL	CARLSMED INC	47,700	$589	0.5%	$13.31	0.0%	COM	14280C105
NKTR	NEKTAR THERAPEUTICS	13,485	$570	0.5%	$55.96	0.0%	COM NEW	640268306

Increased Positions (19)

SI SHOULDER INNOVATIONS 5.6%

Value ($000) $7,042 (+30.4%) Shares 492,435 (+14.4%) Est. Cost $13.93 Unrealized -2.1%

JNJ JOHNSON & JOHNSON 3.4%

Value ($000) $4,201 (+48.1%) Shares 20,300 (+32.7%) Est. Cost $146.37 Unrealized +34.6%

AMGN AMGEN INC 3.4%

Value ($000) $4,278 (+46.6%) Shares 13,070 (+26.4%) Est. Cost $259.83 Unrealized +21.6%

VERA VERA THERAPEUTICS 1.5%

Value ($000) $1,866 (+112.8%) Shares 36,858 (+22.1%) Est. Cost $27.52 Unrealized +29.1%

MRK MERCK & CO INC 1.8%

Value ($000) $2,253 (+62.6%) Shares 21,400 (+30.5%) Est. Cost $82.71 Unrealized +12.7%

SYK STRYKER CORP 1.8%

Value ($000) $2,302 (+44.6%) Shares 6,550 (+52.3%) Est. Cost $345.89 Unrealized +5.1%

ABT ABBOTT LABS 2.4%

Value ($000) $2,944 (+27.8%) Shares 23,498 (+36.6%) Est. Cost $102.74 Unrealized +23.9%

VRTX VERTEX PHARMA 2.9%

Value ($000) $3,629 (+20.1%) Shares 8,005 (+3.8%) Est. Cost $372.28 Unrealized +15.8%

UTHR UNITED THERAPEUTICS 0.7%

Value ($000) $840 (+161.8%) Shares 1,723 (+125.2%) Est. Cost $365.80 Unrealized +27.3%

DXCM DEXCOM INC 1.5%

Value ($000) $1,905 (+36.8%) Shares 28,700 (+38.6%) Est. Cost $76.23 Unrealized -15.2%

BSX BOSTON SCIENTIFIC 2.1%

Value ($000) $2,634 (+21.9%) Shares 27,626 (+24.9%) Est. Cost $53.10 Unrealized +84.6%

ABBV ABBVIE INC 3.1%

Value ($000) $3,839 (+12.0%) Shares 16,800 (+13.5%) Est. Cost $131.33 Unrealized +73.3%

EW EDWARDS LIFESCIENCE 1.2%

Value ($000) $1,471 (+26.1%) Shares 17,250 (+15.0%) Est. Cost $75.56 Unrealized +8.6%

AXSM AXSOME THERAPEUTICS 0.3%

Value ($000) $318 (+156.5%) Shares 1,740 (+70.6%) Est. Cost $114.20 Unrealized +22.2%

SMMT SUMMIT THERAPEUTICS 1.1%

Value ($000) $1,393 (-9.0%) Shares 79,625 (+7.5%) Est. Cost $15.48 Unrealized +21.5%

HNGE HINGE HEALTH INC 0.5%

Value ($000) $660 (+20.0%) Shares 14,206 (+26.8%) Est. Cost $43.73 Unrealized +10.1%

TEM TEMPUS AI INC 0.2%

Value ($000) $266 (-12.4%) Shares 4,500 (+19.7%) Est. Cost $59.16 Unrealized +32.2%

OMDA OMADA HEALTH INC 0.5%

Value ($000) $576 (-5.3%) Shares 36,500 (+32.7%) Est. Cost $18.04 Unrealized +12.4%

RDNT RADNET INC 0.6%

Value ($000) $785 (+3.0%) Shares 11,000 (+10.0%) Est. Cost $60.79 Unrealized +27.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SI	SHOULDER INNOVATIONS	492,435 (+14.4%)	$7,042 (+30.4%)	5.6%	$13.93	-2.1%	COMMON STOCK	82537J108
JNJ	JOHNSON & JOHNSON	20,300 (+32.7%)	$4,201 (+48.1%)	3.4%	$146.37	+34.6%	COM	478160104
AMGN	AMGEN INC	13,070 (+26.4%)	$4,278 (+46.6%)	3.4%	$259.83	+21.6%	COM	031162100
VERA	VERA THERAPEUTICS	36,858 (+22.1%)	$1,866 (+112.8%)	1.5%	$27.52	+29.1%	CL A	92337R101
MRK	MERCK & CO INC	21,400 (+30.5%)	$2,253 (+62.6%)	1.8%	$82.71	+12.7%	COM	58933Y105
SYK	STRYKER CORP	6,550 (+52.3%)	$2,302 (+44.6%)	1.8%	$345.89	+5.1%	COM	863667101
ABT	ABBOTT LABS	23,498 (+36.6%)	$2,944 (+27.8%)	2.4%	$102.74	+23.9%	COM	002824100
VRTX	VERTEX PHARMA	8,005 (+3.8%)	$3,629 (+20.1%)	2.9%	$372.28	+15.8%	COM	92532F100
UTHR	UNITED THERAPEUTICS	1,723 (+125.2%)	$840 (+161.8%)	0.7%	$365.80	+27.3%	COM	91307C102
DXCM	DEXCOM INC	28,700 (+38.6%)	$1,905 (+36.8%)	1.5%	$76.23	-15.2%	COM	252131107
BSX	BOSTON SCIENTIFIC	27,626 (+24.9%)	$2,634 (+21.9%)	2.1%	$53.10	+84.6%	COM	101137107
ABBV	ABBVIE INC	16,800 (+13.5%)	$3,839 (+12.0%)	3.1%	$131.33	+73.3%	COM	00287Y109
EW	EDWARDS LIFESCIENCE	17,250 (+15.0%)	$1,471 (+26.1%)	1.2%	$75.56	+8.6%	COM	28176E108
AXSM	AXSOME THERAPEUTICS	1,740 (+70.6%)	$318 (+156.5%)	0.3%	$114.20	+22.2%	COM	05464T104
SMMT	SUMMIT THERAPEUTICS	79,625 (+7.5%)	$1,393 (-9.0%)	1.1%	$15.48	+21.5%	COM	86627T108
HNGE	HINGE HEALTH INC	14,206 (+26.8%)	$660 (+20.0%)	0.5%	$43.73	+10.1%	CL A	433313103
TEM	TEMPUS AI INC	4,500 (+19.7%)	$266 (-12.4%)	0.2%	$59.16	+32.2%	CL A	88023B103
OMDA	OMADA HEALTH INC	36,500 (+32.7%)	$576 (-5.3%)	0.5%	$18.04	+12.4%	COM	68170A108
RDNT	RADNET INC	11,000 (+10.0%)	$785 (+3.0%)	0.6%	$60.79	+27.0%	COM	750491102

Exited Positions (14)

ANAB ANAPTYSBIO INC 4.8%

Value ($000) $5,955 Shares 194,485 Est. Cost $22.08 Unrealized +76.6%

BCAX BICARA THERAPEUTICS 3.4%

Value ($000) $4,208 Shares 266,495 Est. Cost $11.74 Unrealized +45.5%

SLDB SOLID BIOSCIENCES 3.1%

Value ($000) $3,906 Shares 633,052 Est. Cost $4.31 Unrealized +25.8%

MBX MBX BIOSCIENCES INC 2.7%

Value ($000) $3,411 Shares 194,898 Est. Cost $10.24 Unrealized +137.0%

XBI SPDR SERIES TRUST 2.7%

Value ($000) $3,407 Shares 34,000 Est. Cost $100.20 Unrealized —

ZBIO ZENAS BIOPHARMA 2.7%

Value ($000) $3,375 Shares 152,025 Est. Cost $9.74 Unrealized +237.7%

PVLA PALVELLA THERAPEUTIC 2.5%

Value ($000) $3,079 Shares 49,115 Est. Cost $23.47 Unrealized +263.4%

TIL INSTIL BIO INC 2.3%

Value ($000) $2,882 Shares 161,380 Est. Cost $22.99 Unrealized -35.6%

— MERUS B V 0.9%

Value ($000) $1,087 Shares 11,545 Est. Cost $52.60 Unrealized —

CI THE CIGNA GROUP 0.4%

Value ($000) $519 Shares 1,800 Est. Cost $317.87 Unrealized -12.2%

BMY BRISTOL MYERS SQUIBB 0.4%

Value ($000) $487 Shares 10,800 Est. Cost $42.07 Unrealized +13.0%

ZLAB ZAI LAB LTD 0.3%

Value ($000) $427 Shares 12,590 Est. Cost $25.20 Unrealized —

PCVX VAXCYTE INC 0.1%

Value ($000) $151 Shares 4,205 Est. Cost $71.76 Unrealized -37.7%

MLTX MOONLAKE IMMUNOTHERA 0.0%

Value ($000) $7 Shares 956 Est. Cost $38.74 Unrealized -69.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ANAB	ANAPTYSBIO INC	194,485	$5,955	4.8%	$22.08	+76.6%	—	032724106
BCAX	BICARA THERAPEUTICS	266,495	$4,208	3.4%	$11.74	+45.5%	—	055477103
SLDB	SOLID BIOSCIENCES	633,052	$3,906	3.1%	$4.31	+25.8%	—	83422E204
MBX	MBX BIOSCIENCES INC	194,898	$3,411	2.7%	$10.24	+137.0%	—	55287L101
XBI	SPDR SERIES TRUST	34,000	$3,407	2.7%	$100.20	—	—	78464A870
ZBIO	ZENAS BIOPHARMA	152,025	$3,375	2.7%	$9.74	+237.7%	—	98937L105
PVLA	PALVELLA THERAPEUTIC	49,115	$3,079	2.5%	$23.47	+263.4%	—	697947109
TIL	INSTIL BIO INC	161,380	$2,882	2.3%	$22.99	-35.6%	—	45783C200
—	MERUS B V	11,545	$1,087	0.9%	$52.60	—	—	N5749R100
CI	THE CIGNA GROUP	1,800	$519	0.4%	$317.87	-12.2%	—	125523100
BMY	BRISTOL MYERS SQUIBB	10,800	$487	0.4%	$42.07	+13.0%	—	110122108
ZLAB	ZAI LAB LTD	12,590	$427	0.3%	$25.20	—	—	98887Q104
PCVX	VAXCYTE INC	4,205	$151	0.1%	$71.76	-37.7%	—	92243G108
MLTX	MOONLAKE IMMUNOTHERA	956	$7	0.0%	$38.74	-69.5%	—	61559X104

Decreased Positions (43)

GPCR STRUCTURE THERAPEUTICS 1.3%

Value ($000) $1,660 (-73.3%) Shares 23,872 (-89.2%) Est. Cost $28.40 Unrealized —

IMTX IMMATICS NV 0.5%

Value ($000) $662 (-86.1%) Shares 63,015 (-88.8%) Est. Cost $5.45 Unrealized +85.2%

ORIC ORIC PHARMACEUTICALS 0.1%

Value ($000) $184 (-95.3%) Shares 22,480 (-93.2%) Est. Cost $7.96 Unrealized +44.6%

RCUS ARCUS BIOSCIENCES 1.1%

Value ($000) $1,357 (-72.9%) Shares 56,945 (-84.5%) Est. Cost $10.15 Unrealized +101.1%

KURA KURA ONCOLOGY 0.5%

Value ($000) $562 (-84.0%) Shares 54,110 (-86.3%) Est. Cost $6.31 Unrealized +66.3%

VTYX VENTYX BIOSCIENCES 0.7%

Value ($000) $875 (-74.6%) Shares 96,945 (-91.2%) Est. Cost $1.78 Unrealized +320.0%

TECX TECTONIC THERAPEUTICS 0.7%

Value ($000) $881 (-70.9%) Shares 42,255 (-78.1%) Est. Cost $20.45 Unrealized -9.1%

ONC BEONE MEDICINES LTD 0.6%

Value ($000) $810 (-67.0%) Shares 2,665 (-63.0%) Est. Cost $255.42 Unrealized —

PFE PFIZER INC 0.5%

Value ($000) $676 (-65.6%) Shares 27,150 (-64.8%) Est. Cost $30.42 Unrealized -17.7%

BMRN BIOMARIN PHARMACEUTICAL INC 0.5%

Value ($000) $647 (-52.3%) Shares 10,880 (-56.5%) Est. Cost $83.56 Unrealized -34.8%

LLY ELI LILLY & CO 6.3%

Value ($000) $7,819 (+9.3%) Shares 7,276 (-22.4%) Est. Cost $314.26 Unrealized +204.1%

REGN REGENERON PHARMCTCLS 2.3%

Value ($000) $2,867 (+28.5%) Shares 3,715 (-6.4%) Est. Cost $700.98 Unrealized -3.2%

SPRY ARS PHARMACEUTICALS 0.3%

Value ($000) $347 (-57.8%) Shares 29,803 (-63.6%) Est. Cost $8.11 Unrealized +20.0%

ARGX ARGENX SE SPN ADR 2.0%

Value ($000) $2,434 (-15.2%) Shares 2,894 (-25.6%) Est. Cost $422.98 Unrealized —

ALHC ALIGNMENT HEALTHCARE 0.5%

Value ($000) $622 (-34.6%) Shares 31,500 (-42.2%) Est. Cost $14.83 Unrealized +21.2%

FOLD AMICUS THERAPEUTICS 0.5%

Value ($000) $617 (-34.3%) Shares 43,300 (-63.6%) Est. Cost $11.58 Unrealized -15.2%

ALNY ALNYLAM PHARMACEUTICALS INC 1.0%

Value ($000) $1,189 (-20.3%) Shares 2,990 (-8.6%) Est. Cost $173.07 Unrealized +155.7%

PRVA PRIVIA HEALTH GROUP 0.5%

Value ($000) $616 (-32.2%) Shares 26,000 (-28.8%) Est. Cost $21.52 Unrealized +13.1%

ROIV ROIVANT SCIENCES LTD 0.8%

Value ($000) $984 (+30.1%) Shares 45,347 (-9.3%) Est. Cost $9.10 Unrealized +116.8%

CYTK CYTOKINETICS INC 0.3%

Value ($000) $374 (-33.4%) Shares 5,893 (-42.4%) Est. Cost $70.61 Unrealized -11.9%

ISRG INTUITIVE SURGIC INC 2.2%

Value ($000) $2,747 (+6.8%) Shares 4,850 (-15.7%) Est. Cost $453.75 Unrealized +17.3%

BBIO BRIDGEBIO PHARMA 0.7%

Value ($000) $854 (+20.5%) Shares 11,170 (-18.2%) Est. Cost $30.69 Unrealized +113.9%

MLYS MINERALYS THERAPEUTICS 0.9%

Value ($000) $1,148 (-10.7%) Shares 31,625 (-6.7%) Est. Cost $15.41 Unrealized +160.2%

MDGL MADRIGAL PHARMA 0.2%

Value ($000) $205 (-38.8%) Shares 352 (-51.8%) Est. Cost $277.62 Unrealized +84.0%

TARS TARSUS PHARMACEUTICAL 1.0%

Value ($000) $1,207 (+10.3%) Shares 14,740 (-19.9%) Est. Cost $36.42 Unrealized +105.0%

RAPP RAPPORT THERAPEUTICS 0.9%

Value ($000) $1,181 (-8.5%) Shares 38,925 (-10.5%) Est. Cost $10.61 Unrealized +160.8%

BNTX BIONTECH SE 1.3%

Value ($000) $1,639 (-5.9%) Shares 17,218 (-2.5%) Est. Cost $101.40 Unrealized —

TRVI TREVI THERAPEUTIC INC 0.8%

Value ($000) $1,055 (+8.8%) Shares 84,255 (-20.5%) Est. Cost $5.34 Unrealized +116.6%

ILMN ILLUMINA INC 0.3%

Value ($000) $324 (+25.2%) Shares 2,472 (-9.4%) Est. Cost $239.16 Unrealized -50.9%

SNDX SYNDAX PHARMACEUTICALS 1.0%

Value ($000) $1,286 (+5.2%) Shares 61,200 (-23.0%) Est. Cost $11.43 Unrealized +52.6%

PTCT PTC THERAPEUTICS 0.5%

Value ($000) $586 (+11.9%) Shares 7,715 (-9.6%) Est. Cost $38.27 Unrealized +89.9%

IONS IONIS PHARMACEUTICAL 0.5%

Value ($000) $662 (+9.9%) Shares 8,365 (-9.1%) Est. Cost $44.24 Unrealized +70.2%

JAZZ JAZZ PHARMA PLC 0.3%

Value ($000) $348 (+17.8%) Shares 2,049 (-8.7%) Est. Cost $140.82 Unrealized +8.9%

BIIB BIOGEN INC 0.3%

Value ($000) $379 (+14.0%) Shares 2,155 (-9.3%) Est. Cost $285.00 Unrealized -42.7%

AVBP ARRIVENT BIOPHARMA 0.6%

Value ($000) $770 (+6.3%) Shares 38,255 (-2.5%) Est. Cost $21.61 Unrealized -3.7%

AZN ASTRAZENECA 1.1%

Value ($000) $1,400 (-2.7%) Shares 15,232 (-18.8%) Est. Cost $67.11 Unrealized —

NBIX NEUROCRINE BIOSCIENCES 0.3%

Value ($000) $379 (-8.7%) Shares 2,675 (-9.6%) Est. Cost $124.27 Unrealized +16.6%

GILD GILEAD SCIENCES INC 1.8%

Value ($000) $2,195 (+1.2%) Shares 17,885 (-8.5%) Est. Cost $62.51 Unrealized +93.4%

ASND ASCENDIS PHARMA 0.6%

Value ($000) $694 (-3.1%) Shares 3,254 (-9.6%) Est. Cost $146.99 Unrealized —

INCY INCYTE CORPORATION 0.2%

Value ($000) $272 (+5.7%) Shares 2,750 (-9.2%) Est. Cost $70.35 Unrealized +37.5%

INSM INSMED INC 1.6%

Value ($000) $1,946 (+0.7%) Shares 11,182 (-16.7%) Est. Cost $55.11 Unrealized +231.1%

MRNA MODERNA INC 0.1%

Value ($000) $148 (+2.0%) Shares 5,005 (-10.6%) Est. Cost $109.67 Unrealized -75.2%

RPRX ROYALTY PHARMA PLC 0.3%

Value ($000) $327 (-0.0%) Shares 8,470 (-8.7%) Est. Cost $35.70 Unrealized +6.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GPCR	STRUCTURE THERAPEUTICS	23,872 (-89.2%)	$1,660 (-73.3%)	1.3%	$28.40	—	SP ADR	86366E106
IMTX	IMMATICS NV	63,015 (-88.8%)	$662 (-86.1%)	0.5%	$5.45	+85.2%	SHS	N44445109
ORIC	ORIC PHARMACEUTICALS	22,480 (-93.2%)	$184 (-95.3%)	0.1%	$7.96	+44.6%	COM	68622P109
RCUS	ARCUS BIOSCIENCES	56,945 (-84.5%)	$1,357 (-72.9%)	1.1%	$10.15	+101.1%	COM	03969F109
KURA	KURA ONCOLOGY	54,110 (-86.3%)	$562 (-84.0%)	0.5%	$6.31	+66.3%	COM	50127T109
VTYX	VENTYX BIOSCIENCES	96,945 (-91.2%)	$875 (-74.6%)	0.7%	$1.78	+320.0%	COM	92332V107
TECX	TECTONIC THERAPEUTICS	42,255 (-78.1%)	$881 (-70.9%)	0.7%	$20.45	-9.1%	COM	878972108
ONC	BEONE MEDICINES LTD	2,665 (-63.0%)	$810 (-67.0%)	0.6%	$255.42	—	SP ADR	07725L102
PFE	PFIZER INC	27,150 (-64.8%)	$676 (-65.6%)	0.5%	$30.42	-17.7%	COM	717081103
BMRN	BIOMARIN PHARMACEUTICAL INC	10,880 (-56.5%)	$647 (-52.3%)	0.5%	$83.56	-34.8%	COM	09061G101
LLY	ELI LILLY & CO	7,276 (-22.4%)	$7,819 (+9.3%)	6.3%	$314.26	+204.1%	COM	532457108
REGN	REGENERON PHARMCTCLS	3,715 (-6.4%)	$2,867 (+28.5%)	2.3%	$700.98	-3.2%	COM	75886F107
SPRY	ARS PHARMACEUTICALS	29,803 (-63.6%)	$347 (-57.8%)	0.3%	$8.11	+20.0%	COM	82835W108
ARGX	ARGENX SE SPN ADR	2,894 (-25.6%)	$2,434 (-15.2%)	2.0%	$422.98	—	SP ADR	04016X101
ALHC	ALIGNMENT HEALTHCARE	31,500 (-42.2%)	$622 (-34.6%)	0.5%	$14.83	+21.2%	COM	01625V104
FOLD	AMICUS THERAPEUTICS	43,300 (-63.6%)	$617 (-34.3%)	0.5%	$11.58	-15.2%	COM	03152W109
ALNY	ALNYLAM PHARMACEUTICALS INC	2,990 (-8.6%)	$1,189 (-20.3%)	1.0%	$173.07	+155.7%	COM	02043Q107
PRVA	PRIVIA HEALTH GROUP	26,000 (-28.8%)	$616 (-32.2%)	0.5%	$21.52	+13.1%	COM	74276R102
ROIV	ROIVANT SCIENCES LTD	45,347 (-9.3%)	$984 (+30.1%)	0.8%	$9.10	+116.8%	SHS	G76279101
CYTK	CYTOKINETICS INC	5,893 (-42.4%)	$374 (-33.4%)	0.3%	$70.61	-11.9%	COM NEW	23282W605
ISRG	INTUITIVE SURGIC INC	4,850 (-15.7%)	$2,747 (+6.8%)	2.2%	$453.75	+17.3%	COM NEW	46120E602
BBIO	BRIDGEBIO PHARMA	11,170 (-18.2%)	$854 (+20.5%)	0.7%	$30.69	+113.9%	COM	10806X102
MLYS	MINERALYS THERAPEUTICS	31,625 (-6.7%)	$1,148 (-10.7%)	0.9%	$15.41	+160.2%	COM	603170101
MDGL	MADRIGAL PHARMA	352 (-51.8%)	$205 (-38.8%)	0.2%	$277.62	+84.0%	COM	558868105
TARS	TARSUS PHARMACEUTICAL	14,740 (-19.9%)	$1,207 (+10.3%)	1.0%	$36.42	+105.0%	COM	87650L103
RAPP	RAPPORT THERAPEUTICS	38,925 (-10.5%)	$1,181 (-8.5%)	0.9%	$10.61	+160.8%	COM	75383L102
BNTX	BIONTECH SE	17,218 (-2.5%)	$1,639 (-5.9%)	1.3%	$101.40	—	SP ADR	09075V102
TRVI	TREVI THERAPEUTIC INC	84,255 (-20.5%)	$1,055 (+8.8%)	0.8%	$5.34	+116.6%	COM	89532M101
ILMN	ILLUMINA INC	2,472 (-9.4%)	$324 (+25.2%)	0.3%	$239.16	-50.9%	COM	452327109
SNDX	SYNDAX PHARMACEUTICALS	61,200 (-23.0%)	$1,286 (+5.2%)	1.0%	$11.43	+52.6%	COM	87164F105
PTCT	PTC THERAPEUTICS	7,715 (-9.6%)	$586 (+11.9%)	0.5%	$38.27	+89.9%	COM	69366J200
IONS	IONIS PHARMACEUTICAL	8,365 (-9.1%)	$662 (+9.9%)	0.5%	$44.24	+70.2%	COM	462222100
JAZZ	JAZZ PHARMA PLC	2,049 (-8.7%)	$348 (+17.8%)	0.3%	$140.82	+8.9%	SHS USD	G50871105
BIIB	BIOGEN INC	2,155 (-9.3%)	$379 (+14.0%)	0.3%	$285.00	-42.7%	COM	09062X103
AVBP	ARRIVENT BIOPHARMA	38,255 (-2.5%)	$770 (+6.3%)	0.6%	$21.61	-3.7%	COM	04272N102
AZN	ASTRAZENECA	15,232 (-18.8%)	$1,400 (-2.7%)	1.1%	$67.11	—	SP ADR	046353108
NBIX	NEUROCRINE BIOSCIENCES	2,675 (-9.6%)	$379 (-8.7%)	0.3%	$124.27	+16.6%	COM	64125C109
GILD	GILEAD SCIENCES INC	17,885 (-8.5%)	$2,195 (+1.2%)	1.8%	$62.51	+93.4%	COM	375558103
ASND	ASCENDIS PHARMA	3,254 (-9.6%)	$694 (-3.1%)	0.6%	$146.99	—	SP ADR	04351P101
INCY	INCYTE CORPORATION	2,750 (-9.2%)	$272 (+5.7%)	0.2%	$70.35	+37.5%	COM	45337C102
INSM	INSMED INC	11,182 (-16.7%)	$1,946 (+0.7%)	1.6%	$55.11	+231.1%	COM PAR $.01	457669307
MRNA	MODERNA INC	5,005 (-10.6%)	$148 (+2.0%)	0.1%	$109.67	-75.2%	COM	60770K107
RPRX	ROYALTY PHARMA PLC	8,470 (-8.7%)	$327 (-0.0%)	0.3%	$35.70	+6.8%	SHS CLASS A	G7709Q104

Unchanged Positions (6)

QURE UNIQURE N.V. 0.6%

Value ($000) $732 Shares 30,585 Est. Cost $6.51 Unrealized +492.6%

TMO THERMO FISHER SCIENTIFIC 1.8%

Value ($000) $2,260 Shares 3,900 Est. Cost $482.93 Unrealized +17.0%

DHR DANAHER CORP 1.9%

Value ($000) $2,421 Shares 10,575 Est. Cost $219.09 Unrealized +0.2%

CTNM CONTINEUM THERAPEUTICS 7.3%

Value ($000) $9,153 Shares 800,787 Est. Cost $16.10 Unrealized -29.2%

UNH UNITEDHEALTH GRP INC 3.6%

Value ($000) $4,488 Shares 13,595 Est. Cost $389.43 Unrealized -13.4%

BOLD BOUNDLESS BIO INC 0.7%

Value ($000) $814 Shares 678,574 Est. Cost $14.25 Unrealized -91.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QURE	UNIQURE N.V.	30,585	$732	0.6%	$6.51	+492.6%	SHS	N90064101
TMO	THERMO FISHER SCIENTIFIC	3,900	$2,260	1.8%	$482.93	+17.0%	COM	883556102
DHR	DANAHER CORP	10,575	$2,421	1.9%	$219.09	+0.2%	COM	235851102
CTNM	CONTINEUM THERAPEUTICS	800,787	$9,153	7.3%	$16.10	-29.2%	CL A	21217B100
UNH	UNITEDHEALTH GRP INC	13,595	$4,488	3.6%	$389.43	-13.4%	COM	91324P102
BOLD	BOUNDLESS BIO INC	678,574	$814	0.7%	$14.25	-91.3%	COM	10170A100