Sio Capital Management, LLC Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CI	THE CIGNA GROUP	172,203	$47,395	7.5%	$279.23	0.0%	COM	125523100
ZBH	ZIMMER BIOMET HOLDINGS INC	385,642	$34,677	5.5%	$94.58	0.0%	COM	98956P102
RYTM	RHYTHM PHARMACEUTICALS INC	265,700	$28,441	4.5%	—	—	PUT	76243J105
OGN	ORGANON & CO	3,421,765	$24,534	3.9%	$7.89	0.0%	COMMON STOCK	68622V106
ICLR	ICON PLC	127,202	$23,179	3.6%	$178.08	0.0%	SHS	G4705A100
WAY	WAYSTAR HLDG CORP	613,725	$20,099	3.2%	$35.62	0.0%	COM	946784105
LIVN	LIVANOVA PLC	322,382	$19,836	3.1%	$57.14	0.0%	SHS	G5509L101
BHVN	BIOHAVEN LTD	1,244,764	$14,053	2.2%	$12.39	0.0%	COM	G1110E107
GPCR	STRUCTURE THERAPEUTICS INC	201,500	$14,014	2.2%	$69.55	—	SPONSORED ADS	86366E106
BTSG	BRIGHTSPRING HEALTH SVCS INC	308,010	$11,535	1.8%	$33.54	0.0%	COM	10950A106
CRL	CHARLES RIV LABS INTL INC	54,985	$10,968	1.7%	$181.39	0.0%	COM	159864107
TARA	PROTARA THERAPEUTICS INC	1,715,394	$9,143	1.4%	$5.56	0.0%	COM STK	74365U107
CCRN	CROSS CTRY HEALTHCARE INC	1,068,821	$8,657	1.4%	$10.93	0.0%	COM	227483104
ABVX	ABIVAX SA	43,124	$5,815	0.9%	$134.85	—	SPONSORED ADS	00370M103
COR	CENCORA INC	15,900	$5,370	0.8%	$340.62	0.0%	COM	03073E105
MCK	MCKESSON CORP	6,400	$5,250	0.8%	$815.57	0.0%	COM	58155Q103
FULC	FULCRUM THERAPEUTICS INC	382,000	$4,320	0.7%	$10.18	0.0%	COM	359616109
ORKA	ORUKA THERAPEUTICS INC	118,126	$3,580	0.6%	$27.86	0.0%	COM	687604108
KYMR	KYMERA THERAPEUTICS INC	32,235	$2,508	0.4%	$67.53	0.0%	COM	501575104
ELTX	ELICIO THERAPEUTICS INC	296,900	$2,363	0.4%	—	—	PUT	28657F103
HYPR	HYPERFINE INC	2,000,000	$1,959	0.3%	$1.21	0.0%	COM CL A	44916K106
OTLK	OUTLOOK THERAPEUTICS INC	1,125,400	$1,778	0.3%	—	—	PUT	69012T305
IBIO	IBIO INC	740,000	$1,428	0.2%	$1.36	0.0%	COM NEW	451033708
XLO	XILIO THERAPEUTICS INC	2,134,537	$1,367	0.2%	$0.75	0.0%	COM	98422T100
ADGM	ADAGIO MED HLDGS INC	1,288,461	$1,340	0.2%	$1.19	0.0%	COM	00534B100
SENS	SENSEONICS HLDGS INC	115,784	$639	0.1%	$6.96	0.0%	COM	81727U303
ENTA	ENANTA PHARMACEUTICALS INC	40,000	$631	0.1%	$12.70	0.0%	COM	29251M106

Increased Positions (8)

SNY SANOFI SA 7.4%

Value ($000) $47,088 (+77.3%) Shares 971,686 (+72.7%) Est. Cost $47.94 Unrealized —

KVUE KENVUE INC 4.0%

Value ($000) $25,279 (+84.5%) Shares 1,465,442 (+73.6%) Est. Cost $18.45 Unrealized -11.9%

TYRA TYRA BIOSCIENCES INC 2.2%

Value ($000) $13,829 (+92.0%) Shares 526,002 (+2.1%) Est. Cost $12.45 Unrealized +47.5%

TFX TELEFLEX INCORPORATED 1.7%

Value ($000) $10,602 (+116.3%) Shares 86,876 (+116.9%) Est. Cost $120.84 Unrealized +0.1%

ANIP ANI PHARMACEUTICALS INC 1.1%

Value ($000) $6,889 (+35.0%) Shares 87,272 (+56.6%) Est. Cost $69.07 Unrealized +25.4%

BMRN BIOMARIN PHARMACEUTICAL INC 2.2%

Value ($000) $13,829 (+13.4%) Shares 232,688 (+3.4%) Est. Cost $63.83 Unrealized -14.7%

AVR ANTERIS TECHNOLOGIES GLOBAL 1.5%

Value ($000) $9,354 (+17.3%) Shares 1,874,641 (+5.8%) Est. Cost $5.54 Unrealized -17.2%

PRQR PROQR THERAPEUTICS N V 0.7%

Value ($000) $4,372 (-1.1%) Shares 2,164,181 (+4.3%) Est. Cost $3.13 Unrealized -25.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SNY	SANOFI SA	971,686 (+72.7%)	$47,088 (+77.3%)	7.4%	$47.94	—	SPONSORED ADR	80105N105
KVUE	KENVUE INC	1,465,442 (+73.6%)	$25,279 (+84.5%)	4.0%	$18.45	-11.9%	COM	49177J102
TYRA	TYRA BIOSCIENCES INC	526,002 (+2.1%)	$13,829 (+92.0%)	2.2%	$12.45	+47.5%	COM	90240B106
TFX	TELEFLEX INCORPORATED	86,876 (+116.9%)	$10,602 (+116.3%)	1.7%	$120.84	+0.1%	COM	879369106
ANIP	ANI PHARMACEUTICALS INC	87,272 (+56.6%)	$6,889 (+35.0%)	1.1%	$69.07	+25.4%	COM	00182C103
BMRN	BIOMARIN PHARMACEUTICAL INC	232,688 (+3.4%)	$13,829 (+13.4%)	2.2%	$63.83	-14.7%	COM	09061G101
AVR	ANTERIS TECHNOLOGIES GLOBAL	1,874,641 (+5.8%)	$9,354 (+17.3%)	1.5%	$5.54	-17.2%	COM	03675P102
PRQR	PROQR THERAPEUTICS N V	2,164,181 (+4.3%)	$4,372 (-1.1%)	0.7%	$3.13	-25.2%	SHS EURO	N71542109

Exited Positions (10)

MRK MERCK & CO INC 2.3%

Value ($000) $14,881 Shares 177,300 Est. Cost $89.95 Unrealized +3.7%

HSIC HENRY SCHEIN INC 2.3%

Value ($000) $14,549 Shares 219,207 Est. Cost $69.22 Unrealized +1.7%

GSK GSK PLC 1.8%

Value ($000) $11,605 Shares 268,873 Est. Cost $43.16 Unrealized —

KALV KALVISTA PHARMACEUTICALS INC 1.3%

Value ($000) $8,329 Shares 683,819 Est. Cost $13.82 Unrealized -4.2%

NVCR NOVOCURE LTD 0.8%

Value ($000) $5,347 Shares 413,829 Est. Cost $13.36 Unrealized -3.9%

SLP SIMULATIONS PLUS INC 0.8%

Value ($000) $4,827 Shares 320,307 Est. Cost $14.54 Unrealized +20.6%

SEPN SEPTERNA INC 0.6%

Value ($000) $3,559 Shares 189,199 Est. Cost $15.63 Unrealized +52.8%

ERAS ERASCA INC 0.5%

Value ($000) $2,986 Shares 1,369,748 Est. Cost $2.02 Unrealized +39.4%

— SENSEONICS HOLDINGS INC 0.2%

Value ($000) $1,009 Shares 2,315,749 Est. Cost $0.48 Unrealized —

APRE APREA THERAPEUTICS INC 0.0%

Value ($000) $166 Shares 112,223 Est. Cost $7.27 Unrealized -83.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MRK	MERCK & CO INC	177,300	$14,881	2.3%	$89.95	+3.7%	—	58933Y105
HSIC	HENRY SCHEIN INC	219,207	$14,549	2.3%	$69.22	+1.7%	—	806407102
GSK	GSK PLC	268,873	$11,605	1.8%	$43.16	—	—	37733W204
KALV	KALVISTA PHARMACEUTICALS INC	683,819	$8,329	1.3%	$13.82	-4.2%	—	483497103
NVCR	NOVOCURE LTD	413,829	$5,347	0.8%	$13.36	-3.9%	—	G6674U108
SLP	SIMULATIONS PLUS INC	320,307	$4,827	0.8%	$14.54	+20.6%	—	829214105
SEPN	SEPTERNA INC	189,199	$3,559	0.6%	$15.63	+52.8%	—	81734D104
ERAS	ERASCA INC	1,369,748	$2,986	0.5%	$2.02	+39.4%	—	29479A108
—	SENSEONICS HOLDINGS INC	2,315,749	$1,009	0.2%	$0.48	—	—	81727U105
APRE	APREA THERAPEUTICS INC	112,223	$166	0.0%	$7.27	-83.1%	—	03836J201

Decreased Positions (16)

ALKS ALKERMES PLC 0.4%

Value ($000) $2,668 (-86.8%) Shares 95,353 (-85.9%) Est. Cost $28.20 Unrealized +6.2%

IRON DISC MEDICINE INC 0.7%

Value ($000) $4,573 (-75.7%) Shares 57,586 (-79.8%) Est. Cost $43.62 Unrealized +93.7%

CELC CELCUITY INC 7.5%

Value ($000) $47,583 (+22.5%) Shares 477,067 (-39.3%) Est. Cost $40.03 Unrealized +105.4%

MMS MAXIMUS INC 6.8%

Value ($000) $43,186 (-15.2%) Shares 500,304 (-10.3%) Est. Cost $80.51 Unrealized +6.2%

DRUG BRIGHT MINDS BIOSCIENCES INC 1.0%

Value ($000) $6,390 (-44.8%) Shares 81,883 (-57.1%) Est. Cost $35.35 Unrealized +89.1%

DNTH DIANTHUS THERAPEUTICS INC 3.1%

Value ($000) $19,554 (-14.0%) Shares 474,503 (-17.9%) Est. Cost $23.44 Unrealized +65.4%

CNC CENTENE CORP DEL 1.8%

Value ($000) $11,290 (-18.4%) Shares 274,350 (-29.2%) Est. Cost $49.47 Unrealized -24.3%

HAE HAEMONETICS CORP MASS 1.2%

Value ($000) $7,424 (-23.1%) Shares 92,631 (-53.2%) Est. Cost $61.90 Unrealized +8.5%

AQST AQUESTIVE THERAPEUTICS INC 1.0%

Value ($000) $6,415 (-23.4%) Shares 993,095 (-33.7%) Est. Cost $3.44 Unrealized +80.9%

CRNX CRINETICS PHARMACEUTICALS IN 0.9%

Value ($000) $5,811 (-20.2%) Shares 124,841 (-28.6%) Est. Cost $31.97 Unrealized +39.2%

NMTC NEUROONE MED TECHNOLOGIES CO 0.1%

Value ($000) $864 (-58.8%) Shares 1,140,040 (-51.7%) Est. Cost $0.62 Unrealized +23.3%

SI SHOULDER INNOVATIONS INC 0.5%

Value ($000) $3,260 (-25.8%) Shares 227,971 (-34.9%) Est. Cost $13.97 Unrealized -2.4%

SVRA SAVARA INC 0.6%

Value ($000) $3,702 (+42.7%) Shares 613,888 (-15.5%) Est. Cost $2.76 Unrealized +77.2%

VTYX VENTYX BIOSCIENCES INC 0.6%

Value ($000) $3,501 (+35.8%) Shares 387,751 (-53.2%) Est. Cost $2.68 Unrealized +179.0%

EWTX EDGEWISE THERAPEUTICS INC 0.9%

Value ($000) $5,893 (+18.3%) Shares 237,481 (-22.7%) Est. Cost $14.42 Unrealized +39.2%

IDYA IDEAYA BIOSCIENCES INC 0.4%

Value ($000) $2,618 (-22.6%) Shares 75,730 (-39.0%) Est. Cost $37.74 Unrealized -15.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ALKS	ALKERMES PLC	95,353 (-85.9%)	$2,668 (-86.8%)	0.4%	$28.20	+6.2%	SHS	G01767105
IRON	DISC MEDICINE INC	57,586 (-79.8%)	$4,573 (-75.7%)	0.7%	$43.62	+93.7%	COM	254604101
CELC	CELCUITY INC	477,067 (-39.3%)	$47,583 (+22.5%)	7.5%	$40.03	+105.4%	COM	15102K100
MMS	MAXIMUS INC	500,304 (-10.3%)	$43,186 (-15.2%)	6.8%	$80.51	+6.2%	COM	577933104
DRUG	BRIGHT MINDS BIOSCIENCES INC	81,883 (-57.1%)	$6,390 (-44.8%)	1.0%	$35.35	+89.1%	COM NEW	10919W405
DNTH	DIANTHUS THERAPEUTICS INC	474,503 (-17.9%)	$19,554 (-14.0%)	3.1%	$23.44	+65.4%	COM	252828108
CNC	CENTENE CORP DEL	274,350 (-29.2%)	$11,290 (-18.4%)	1.8%	$49.47	-24.3%	COM	15135B101
HAE	HAEMONETICS CORP MASS	92,631 (-53.2%)	$7,424 (-23.1%)	1.2%	$61.90	+8.5%	COM	405024100
AQST	AQUESTIVE THERAPEUTICS INC	993,095 (-33.7%)	$6,415 (-23.4%)	1.0%	$3.44	+80.9%	COM	03843E104
CRNX	CRINETICS PHARMACEUTICALS IN	124,841 (-28.6%)	$5,811 (-20.2%)	0.9%	$31.97	+39.2%	COM	22663K107
NMTC	NEUROONE MED TECHNOLOGIES CO	1,140,040 (-51.7%)	$864 (-58.8%)	0.1%	$0.62	+23.3%	COM NEW	64130M209
SI	SHOULDER INNOVATIONS INC	227,971 (-34.9%)	$3,260 (-25.8%)	0.5%	$13.97	-2.4%	COMMON STOCK	82537J108
SVRA	SAVARA INC	613,888 (-15.5%)	$3,702 (+42.7%)	0.6%	$2.76	+77.2%	COM	805111101
VTYX	VENTYX BIOSCIENCES INC	387,751 (-53.2%)	$3,501 (+35.8%)	0.6%	$2.68	+179.0%	COM	92332V107
EWTX	EDGEWISE THERAPEUTICS INC	237,481 (-22.7%)	$5,893 (+18.3%)	0.9%	$14.42	+39.2%	COM	28036F105
IDYA	IDEAYA BIOSCIENCES INC	75,730 (-39.0%)	$2,618 (-22.6%)	0.4%	$37.74	-15.5%	COM	45166A102

Unchanged Positions (17)

CNTX CONTEXT THERAPEUTICS INC 0.3%

Value ($000) $1,972 Shares 1,341,636 Est. Cost $1.71 Unrealized -31.8%

OVID OVID THERAPEUTICS INC 0.4%

Value ($000) $2,327 Shares 1,427,495 Est. Cost $0.84 Unrealized +83.2%

PMVP PMV PHARMACEUTICALS INC 0.5%

Value ($000) $3,296 Shares 2,636,548 Est. Cost $1.73 Unrealized -22.5%

AVTX AVALO THERAPEUTICS INC 0.2%

Value ($000) $1,311 Shares 72,173 Est. Cost $11.82 Unrealized +42.8%

TERN TERNS PHARMACEUTICALS INC 0.1%

Value ($000) $408 Shares 10,100 Est. Cost $8.18 Unrealized +182.6%

MODD MODULAR MED INC 0.0%

Value ($000) $286 Shares 785,824 Est. Cost $1.38 Unrealized -64.4%

TELA TELA BIO INC 0.1%

Value ($000) $751 Shares 636,300 Est. Cost $2.80 Unrealized -54.7%

ALGS ALIGOS THERAPEUTICS INC 0.5%

Value ($000) $3,131 Shares 335,937 Est. Cost $14.55 Unrealized -35.2%

VIR VIR BIOTECHNOLOGY INC 0.5%

Value ($000) $2,884 Shares 478,343 Est. Cost $7.89 Unrealized -24.5%

BBOT BRIDGEBIO ONCOLOGY THERAPEUT 0.3%

Value ($000) $1,635 Shares 130,628 Est. Cost $11.58 Unrealized —

RAPP RAPPORT THERAPEUTICS INC 0.9%

Value ($000) $5,621 Shares 185,265 Est. Cost $17.84 Unrealized +55.1%

NXTC NEXTCURE INC 0.0%

Value ($000) $155 Shares 10,940 Est. Cost $5.23 Unrealized +98.0%

FHTX FOGHORN THERAPEUTICS INC 0.1%

Value ($000) $664 Shares 122,889 Est. Cost $4.31 Unrealized +5.1%

HUMAW HUMACYTE INC 0.0%

Value ($000) $5 Shares 49,998 Est. Cost $0.60 Unrealized —

RCKTW ROCKET PHARMACEUTICALS INC 0.0%

Value ($000) $7 Shares 400,000 Est. Cost $0.16 Unrealized —

BOLD BOUNDLESS BIO INC 0.0%

Value ($000) $196 Shares 163,679 Est. Cost $13.58 Unrealized -90.8%

NYXH NYXOAH S A 0.0%

Value ($000) $234 Shares 50,839 Est. Cost $7.82 Unrealized -34.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CNTX	CONTEXT THERAPEUTICS INC	1,341,636	$1,972	0.3%	$1.71	-31.8%	COM	21077P108
OVID	OVID THERAPEUTICS INC	1,427,495	$2,327	0.4%	$0.84	+83.2%	COM	690469101
PMVP	PMV PHARMACEUTICALS INC	2,636,548	$3,296	0.5%	$1.73	-22.5%	COM	69353Y103
AVTX	AVALO THERAPEUTICS INC	72,173	$1,311	0.2%	$11.82	+42.8%	COM NEW	05338F306
TERN	TERNS PHARMACEUTICALS INC	10,100	$408	0.1%	$8.18	+182.6%	COM	880881107
MODD	MODULAR MED INC	785,824	$286	0.0%	$1.38	-64.4%	COM NEW	60785L207
TELA	TELA BIO INC	636,300	$751	0.1%	$2.80	-54.7%	COM	872381108
ALGS	ALIGOS THERAPEUTICS INC	335,937	$3,131	0.5%	$14.55	-35.2%	COM NEW	01626L204
VIR	VIR BIOTECHNOLOGY INC	478,343	$2,884	0.5%	$7.89	-24.5%	COM	92764N102
BBOT	BRIDGEBIO ONCOLOGY THERAPEUT	130,628	$1,635	0.3%	$11.58	—	COM NEW	107924102
RAPP	RAPPORT THERAPEUTICS INC	185,265	$5,621	0.9%	$17.84	+55.1%	COM	75383L102
NXTC	NEXTCURE INC	10,940	$155	0.0%	$5.23	+98.0%	COM NEW	65343E207
FHTX	FOGHORN THERAPEUTICS INC	122,889	$664	0.1%	$4.31	+5.1%	COM	344174107
HUMAW	HUMACYTE INC	49,998	$5	0.0%	$0.60	—	*W EXP 08/27/202	44486Q111
RCKTW	ROCKET PHARMACEUTICALS INC	400,000	$7	0.0%	$0.16	—	*W EXP 09/02/202	77313F114
BOLD	BOUNDLESS BIO INC	163,679	$196	0.0%	$13.58	-90.8%	COM	10170A100
NYXH	NYXOAH S A	50,839	$234	0.0%	$7.82	-34.2%	SHS	B6S7WD106