Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ABVX	ABIVAX SA	17,000	$2.265M	1.1%	—	—	SPONSORED ADS	00370M103
VIR	VIR BIOTECHNOLOGY INC	220,000	$2.242M	1.0%	—	—	COM	92764N102
BIOA	BIOAGE LABS INC	69,000	$1.691M	0.8%	—	—	COM	09077V100
NVO	NOVO NORDISK A/S	24,000	$1.151M	0.5%	—	—	ADR	670100205
ADAG	ADAGENE INC	240,000	$1.008M	0.5%	—	—	ADS	005329107
DFTX	DEFINIUM THERAPEUTICS INC	20,000	$941K	0.4%	—	—	COM SHS	24477V105
SLN	SILENCE THERAPEUTICS PLC	71,218	$782K	0.4%	—	—	ADS	82686Q101
FDMT	4D MOLECULAR THERAPEUTICS INC	48,505	$645K	0.3%	—	—	COM	35104E100
URGN	UROGEN PHARMA LTD	16,487	$607K	0.3%	—	—	COM	M96088105
CAMP	CAMP4 THERAPEUTICS CORP	120,000	$524K	0.2%	—	—	COM	13463J101
SVRA	SAVARA INC	80,000	$493K	0.2%	—	—	COM	805111101
ALT	ALTIMMUNE INC	152,681	$464K	0.2%	—	—	COM NEW	02155H200
CAPR	CAPRICOR THERAPEUTICS INC	14,352	$346K	0.2%	—	—	COM NEW	14070B309
IVVD	INVIVYD INC	342,275	$299K	0.1%	—	—	COM	00534A102
NTLA	INTELLIA THERAPEUTICS INC (NTLA) C @ 13.0 10/16/2026 ⚠	500	$260K	0.1%	—	—	COM	45826J105

Increased Positions (11)

KLAC KLA CORPORATION 25.2%

Value $53.85M (+83.9%) Shares 178,471 (+797.6%) Est. Cost — Unrealized —

CMPX COMPASS THERAPEUTICS INC 1.7%

Value $3.668M (-52.7%) Shares 1,675,000 (+14.3%) Est. Cost — Unrealized —

NKTR NEKTAR THERAPEUTICS 2.6%

Value $5.655M (+153.5%) Shares 81,000 (+161.3%) Est. Cost — Unrealized —

CORT CORCEPT THERAPEUTICS INC 2.3%

Value $4.974M (+161.4%) Shares 57,200 (+21.2%) Est. Cost — Unrealized —

SLDB SOLID BIOSCIENCES INC 3.1%

Value $6.655M (+47.7%) Shares 666,196 (+6.4%) Est. Cost — Unrealized —

HALO HALOZYME THERAPEUTICS INC 1.2%

Value $2.603M (+298.7%) Shares 33,251 (+229.2%) Est. Cost — Unrealized —

BIIB BIOGEN INC 0.9%

Value $1.945M (+112.1%) Shares 9,000 (+80.0%) Est. Cost — Unrealized —

ZBIO ZENAS BIOPHARMA INC 1.1%

Value $2.376M (+73.6%) Shares 93,601 (+33.7%) Est. Cost — Unrealized —

VERA VERA THERAPEUTICS INC 1.2%

Value $2.478M (+40.0%) Shares 57,758 (+31.3%) Est. Cost — Unrealized —

— QUIDELORTHO CORP 0.7%

Value $1.565M (+15.4%) Shares 89,377 (+8.3%) Est. Cost — Unrealized —

GRCE GRACE THERAPEUTICS INC 0.1%

Value $272K (+17.7%) Shares 120,000 (+140.0%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KLAC	KLA CORPORATION	178,471 (+797.6%)	$53.85M (+83.9%)	25.2%	—	—	COM NEW	482480100
CMPX	COMPASS THERAPEUTICS INC	1,675,000 (+14.3%)	$3.668M (-52.7%)	1.7%	—	—	COM	20454B104
NKTR	NEKTAR THERAPEUTICS	81,000 (+161.3%)	$5.655M (+153.5%)	2.6%	—	—	COM	640268306
CORT	CORCEPT THERAPEUTICS INC	57,200 (+21.2%)	$4.974M (+161.4%)	2.3%	—	—	COM	218352102
SLDB	SOLID BIOSCIENCES INC	666,196 (+6.4%)	$6.655M (+47.7%)	3.1%	—	—	COM NEW	83422E204
HALO	HALOZYME THERAPEUTICS INC	33,251 (+229.2%)	$2.603M (+298.7%)	1.2%	—	—	COM	40637H109
BIIB	BIOGEN INC	9,000 (+80.0%)	$1.945M (+112.1%)	0.9%	—	—	COM	09062X103
ZBIO	ZENAS BIOPHARMA INC	93,601 (+33.7%)	$2.376M (+73.6%)	1.1%	—	—	COM	98937L105
VERA	VERA THERAPEUTICS INC	57,758 (+31.3%)	$2.478M (+40.0%)	1.2%	—	—	CL A	92337R101
—	QUIDELORTHO CORP	89,377 (+8.3%)	$1.565M (+15.4%)	0.7%	—	—	COM	74838J101
GRCE	GRACE THERAPEUTICS INC	120,000 (+140.0%)	$272K (+17.7%)	0.1%	—	—	COM	00439U104

Exited Positions (15)

NVCR NOVOCURE LTD 1.0%

Value $2.205M Shares 202,330 Est. Cost — Unrealized —

ENGN ENGENE HOLDINGS INC 0.8%

Value $1.702M Shares 250,000 Est. Cost — Unrealized —

RARE ULTRAGENYX PHARMACEUTICAL INC 0.6%

Value $1.299M Shares 62,000 Est. Cost — Unrealized —

KALV KALVISTA PHARMACEUTICALS INC 0.5%

Value $1.147M Shares 57,000 Est. Cost — Unrealized —

VSTM VERASTEM INC 0.4%

Value $795K Shares 150,000 Est. Cost — Unrealized —

APGE APOGEE THERAPEUTICS INC 0.4%

Value $758K Shares 9,000 Est. Cost — Unrealized —

APLS APELLIS PHARMACEUTICALS INC 0.3%

Value $563K Shares 14,000 Est. Cost — Unrealized —

IDYA IDEAYA BIOSCIENCES INC 0.3%

Value $562K Shares 16,860 Est. Cost — Unrealized —

RCUS ARCUS BIOSCIENCES INC 0.3%

Value $559K Shares 25,889 Est. Cost — Unrealized —

RGNX REGENXBIO INC 0.3%

Value $555K Shares 66,270 Est. Cost — Unrealized —

RCKT ROCKET PHARMACEUTICALS INC 0.2%

Value $455K Shares 127,025 Est. Cost — Unrealized —

VRDN VIRIDIAN THERAPEUTICS INC 0.2%

Value $393K Shares 20,100 Est. Cost — Unrealized —

— OUTSET MEDICAL INC 0.2%

Value $380K Shares 98,882 Est. Cost — Unrealized —

PHR PHREESIA INC 0.1%

Value $120K Shares 14,300 Est. Cost — Unrealized —

ZNTL ZENTALIS PHARMACEUTICALS INC 0.0%

Value $40,957 Shares 17,503 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NVCR	NOVOCURE LTD	202,330	$2.205M	1.0%	—	—	—	G6674U108
ENGN	ENGENE HOLDINGS INC	250,000	$1.702M	0.8%	—	—	—	29286M105
RARE	ULTRAGENYX PHARMACEUTICAL INC	62,000	$1.299M	0.6%	—	—	—	90400D108
KALV	KALVISTA PHARMACEUTICALS INC	57,000	$1.147M	0.5%	—	—	—	483497103
VSTM	VERASTEM INC	150,000	$795K	0.4%	—	—	—	92337C203
APGE	APOGEE THERAPEUTICS INC	9,000	$758K	0.4%	—	—	—	03770N101
APLS	APELLIS PHARMACEUTICALS INC	14,000	$563K	0.3%	—	—	—	03753U106
IDYA	IDEAYA BIOSCIENCES INC	16,860	$562K	0.3%	—	—	—	45166A102
RCUS	ARCUS BIOSCIENCES INC	25,889	$559K	0.3%	—	—	—	03969F109
RGNX	REGENXBIO INC	66,270	$555K	0.3%	—	—	—	75901B107
RCKT	ROCKET PHARMACEUTICALS INC	127,025	$455K	0.2%	—	—	—	77313F106
VRDN	VIRIDIAN THERAPEUTICS INC	20,100	$393K	0.2%	—	—	—	92790C104
—	OUTSET MEDICAL INC	98,882	$380K	0.2%	—	—	—	690145107
PHR	PHREESIA INC	14,300	$120K	0.1%	—	—	—	71944F106
ZNTL	ZENTALIS PHARMACEUTICALS INC	17,503	$40,957	0.0%	—	—	—	98943L107

Decreased Positions (17)

LRCX LAM RESEARCH CORPORATION 7.1%

Value $15.17M (+97.2%) Shares 35,000 (-2.8%) Est. Cost — Unrealized —

GPCR STRUCTURE THERAPEUTICS INC 0.6%

Value $1.288M (-73.3%) Shares 24,000 (-76.0%) Est. Cost — Unrealized —

OCUL OCULAR THERAPEUTIX INC 0.1%

Value $203K (-92.5%) Shares 20,655 (-93.5%) Est. Cost — Unrealized —

CMPS COMPASS PATHWAYS LTD 0.2%

Value $425K (-79.5%) Shares 30,000 (-92.0%) Est. Cost — Unrealized —

PHAT PHATHOM PHARMACEUTICALS INC 0.3%

Value $597K (-72.5%) Shares 55,000 (-71.8%) Est. Cost — Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 8.0%

Value $17.13M (-7.8%) Shares 297,243 (-2.9%) Est. Cost — Unrealized —

STOK STOKE THERAPEUTICS INC 2.7%

Value $5.828M (-14.8%) Shares 178,110 (-15.2%) Est. Cost — Unrealized —

LPCN LIPOCINE INC 0.0%

Value $42,783 (-95.2%) Shares 16,712 (-85.1%) Est. Cost — Unrealized —

BCYC BICYCLE THERAPEUTICS PLC 0.6%

Value $1.33M (-38.2%) Shares 313,616 (-32.4%) Est. Cost — Unrealized —

NTLA INTELLIA THERAPEUTICS INC ⚠ 3.0%

Value $6.521M (+14.2%) Shares 385,400 (-13.5%) Est. Cost — Unrealized —

OLMA OLEMA PHARMACEUTICALS INC 1.2%

Value $2.489M (-23.8%) Shares 199,000 (-9.1%) Est. Cost — Unrealized —

QURE UNIQURE NV 1.1%

Value $2.335M (+41.8%) Shares 50,697 (-49.7%) Est. Cost — Unrealized —

PACB PACIFIC BIOSCIENCES OF CALIFORNIA INC 1.1%

Value $2.268M (+14.5%) Shares 1,350,000 (-10.0%) Est. Cost — Unrealized —

CADL CANDEL THERAPEUTICS INC 0.2%

Value $492K (+67.3%) Shares 47,756 (-20.4%) Est. Cost — Unrealized —

LUNG PULMONX CORP 0.1%

Value $261K (-19.2%) Shares 200,543 (-19.9%) Est. Cost — Unrealized —

— KARYOPHARM THERAPEUTICS INC 0.2%

Value $420K (-10.3%) Shares 42,952 (-48.8%) Est. Cost — Unrealized —

DCGO DOCGO INC 0.0%

Value $20,160 (-19.0%) Shares 39,062 (-1.3%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LRCX	LAM RESEARCH CORPORATION	35,000 (-2.8%)	$15.17M (+97.2%)	7.1%	—	—	COM NEW	512807306
GPCR	STRUCTURE THERAPEUTICS INC	24,000 (-76.0%)	$1.288M (-73.3%)	0.6%	—	—	SPONS ADR	86366E106
OCUL	OCULAR THERAPEUTIX INC	20,655 (-93.5%)	$203K (-92.5%)	0.1%	—	—	COM	67576A100
CMPS	COMPASS PATHWAYS LTD	30,000 (-92.0%)	$425K (-79.5%)	0.2%	—	—	SPONSORED ADS	20451W101
PHAT	PHATHOM PHARMACEUTICALS INC	55,000 (-71.8%)	$597K (-72.5%)	0.3%	—	—	COM	71722W107
BMY	BRISTOL-MYERS SQUIBB CO	297,243 (-2.9%)	$17.13M (-7.8%)	8.0%	—	—	COM	110122108
STOK	STOKE THERAPEUTICS INC	178,110 (-15.2%)	$5.828M (-14.8%)	2.7%	—	—	COM	86150R107
LPCN	LIPOCINE INC	16,712 (-85.1%)	$42,783 (-95.2%)	0.0%	—	—	COM NEW	53630X203
BCYC	BICYCLE THERAPEUTICS PLC	313,616 (-32.4%)	$1.33M (-38.2%)	0.6%	—	—	SPONSORED ADS	088786108
NTLA	INTELLIA THERAPEUTICS INC ⚠	385,400 (-13.5%)	$6.521M (+14.2%)	3.0%	—	—	COM	45826J105
OLMA	OLEMA PHARMACEUTICALS INC	199,000 (-9.1%)	$2.489M (-23.8%)	1.2%	—	—	COM	68062P106
QURE	UNIQURE NV	50,697 (-49.7%)	$2.335M (+41.8%)	1.1%	—	—	SHS	N90064101
PACB	PACIFIC BIOSCIENCES OF CALIFORNIA INC	1,350,000 (-10.0%)	$2.268M (+14.5%)	1.1%	—	—	COM	69404D108
CADL	CANDEL THERAPEUTICS INC	47,756 (-20.4%)	$492K (+67.3%)	0.2%	—	—	COM	137404109
LUNG	PULMONX CORP	200,543 (-19.9%)	$261K (-19.2%)	0.1%	—	—	COM	745848101
—	KARYOPHARM THERAPEUTICS INC	42,952 (-48.8%)	$420K (-10.3%)	0.2%	—	—	COM	48576U106
DCGO	DOCGO INC	39,062 (-1.3%)	$20,160 (-19.0%)	0.0%	—	—	COM	256086109

Unchanged Positions (30)

— BIODESIX INC 3.0%

Value $6.467M Shares 286,804 Est. Cost — Unrealized —

NBIX NEUROCRINE BIOSCIENCES INC 2.1%

Value $4.582M Shares 27,190 Est. Cost — Unrealized —

ALKS ALKERMES PLC 1.2%

Value $2.62M Shares 50,000 Est. Cost — Unrealized —

TVTX TRAVERE THERAPEUTICS INC 0.8%

Value $1.647M Shares 29,000 Est. Cost — Unrealized —

OVV OVINTIV INC 2.6%

Value $5.66M Shares 107,500 Est. Cost — Unrealized —

PTGX PROTAGONIST THERAPEUTICS INC 2.0%

Value $4.293M Shares 35,018 Est. Cost — Unrealized —

CYTK CYTOKINETICS INC 1.2%

Value $2.556M Shares 30,000 Est. Cost — Unrealized —

ACAD ACADIA PHARMACEUTICALS INC 2.0%

Value $4.326M Shares 171,000 Est. Cost — Unrealized —

AXSM AXSOME THERAPEUTICS INC 0.7%

Value $1.469M Shares 6,000 Est. Cost — Unrealized —

CLDX CELLDEX THERAPEUTICS INC 1.2%

Value $2.601M Shares 69,900 Est. Cost — Unrealized —

EQT EQT CORPORATION 0.9%

Value $1.841M Shares 34,619 Est. Cost — Unrealized —

UTHR UNITED THERAPEUTICS CORP 1.1%

Value $2.441M Shares 4,506 Est. Cost — Unrealized —

PHVS PHARVARIS N V 0.5%

Value $1.032M Shares 29,847 Est. Cost — Unrealized —

HROW HARROW HEALTH INC 0.5%

Value $1.019M Shares 24,000 Est. Cost — Unrealized —

CGEM CULLINAN THERAPEUTICS INC 0.2%

Value $364K Shares 20,000 Est. Cost — Unrealized —

FCX FREEPORT-MCMORAN CL-B 0.5%

Value $1.134M Shares 18,035 Est. Cost — Unrealized —

TRIN TRINITY CAP INC 0.2%

Value $358K Shares 20,000 Est. Cost — Unrealized —

XENE XENON PHARMACEUTICALS INC 0.6%

Value $1.269M Shares 21,032 Est. Cost — Unrealized —

QNRX QUOIN PHARMACEUTICALS LTD 0.0%

Value $96,800 Shares 20,000 Est. Cost — Unrealized —

IMNM IMMUNOME INC 0.5%

Value $1.06M Shares 50,000 Est. Cost — Unrealized —

PRTA PROTHENA CORP PLC 2.1%

Value $4.396M Shares 449,019 Est. Cost — Unrealized —

FHTX FOGHORN THERAPEUTICS INC 0.6%

Value $1.376M Shares 281,937 Est. Cost — Unrealized —

VYGR VOYAGER THERAPEUTICS INC 0.1%

Value $263K Shares 75,147 Est. Cost — Unrealized —

RLMD RELMADA THERAPEUTICS INC 1.3%

Value $2.824M Shares 408,100 Est. Cost — Unrealized —

KYNB KYNTRA BIO INC 0.1%

Value $170K Shares 22,566 Est. Cost — Unrealized —

ELUT ELUTIA INC 0.1%

Value $162K Shares 165,094 Est. Cost — Unrealized —

CSTL CASTLE BIOSCIENCES INC 0.1%

Value $310K Shares 12,984 Est. Cost — Unrealized —

BBIO BRIDGEBIO PHARMA INC 0.3%

Value $651K Shares 8,741 Est. Cost — Unrealized —

KBDC KAYNE ANDERSON BDC INC 0.1%

Value $271K Shares 20,000 Est. Cost — Unrealized —

GOSS GOSSAMER BIO INC 0.0%

Value $2,992 Shares 18,176 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	BIODESIX INC	286,804	$6.467M	3.0%	—	—	COM	09075X108
NBIX	NEUROCRINE BIOSCIENCES INC	27,190	$4.582M	2.1%	—	—	COM	64125C109
ALKS	ALKERMES PLC	50,000	$2.62M	1.2%	—	—	SHS	G01767105
TVTX	TRAVERE THERAPEUTICS INC	29,000	$1.647M	0.8%	—	—	COM	89422G107
OVV	OVINTIV INC	107,500	$5.66M	2.6%	—	—	COM	69047Q102
PTGX	PROTAGONIST THERAPEUTICS INC	35,018	$4.293M	2.0%	—	—	COM	74366E102
CYTK	CYTOKINETICS INC	30,000	$2.556M	1.2%	—	—	COM	23282W605
ACAD	ACADIA PHARMACEUTICALS INC	171,000	$4.326M	2.0%	—	—	COM	004225108
AXSM	AXSOME THERAPEUTICS INC	6,000	$1.469M	0.7%	—	—	COM	05464T104
CLDX	CELLDEX THERAPEUTICS INC	69,900	$2.601M	1.2%	—	—	COM NEW	15117B202
EQT	EQT CORPORATION	34,619	$1.841M	0.9%	—	—	COM	26884L109
UTHR	UNITED THERAPEUTICS CORP	4,506	$2.441M	1.1%	—	—	COM	91307C102
PHVS	PHARVARIS N V	29,847	$1.032M	0.5%	—	—	COM	N69605108
HROW	HARROW HEALTH INC	24,000	$1.019M	0.5%	—	—	COM	415858109
CGEM	CULLINAN THERAPEUTICS INC	20,000	$364K	0.2%	—	—	COM	230031106
FCX	FREEPORT-MCMORAN CL-B	18,035	$1.134M	0.5%	—	—	CL-B	35671D857
TRIN	TRINITY CAP INC	20,000	$358K	0.2%	—	—	COM	896442308
XENE	XENON PHARMACEUTICALS INC	21,032	$1.269M	0.6%	—	—	COM	98420N105
QNRX	QUOIN PHARMACEUTICALS LTD	20,000	$96,800	0.0%	—	—	SPONSORED ADS	74907L409
IMNM	IMMUNOME INC	50,000	$1.06M	0.5%	—	—	COM	45257U108
PRTA	PROTHENA CORP PLC	449,019	$4.396M	2.1%	—	—	SHS	G72800108
FHTX	FOGHORN THERAPEUTICS INC	281,937	$1.376M	0.6%	—	—	COM	344174107
VYGR	VOYAGER THERAPEUTICS INC	75,147	$263K	0.1%	—	—	COM	92915B106
RLMD	RELMADA THERAPEUTICS INC	408,100	$2.824M	1.3%	—	—	COM	75955J402
KYNB	KYNTRA BIO INC	22,566	$170K	0.1%	—	—	COM NEW	31572Q881
ELUT	ELUTIA INC	165,094	$162K	0.1%	—	—	COM	05479K106
CSTL	CASTLE BIOSCIENCES INC	12,984	$310K	0.1%	—	—	COM	14843C105
BBIO	BRIDGEBIO PHARMA INC	8,741	$651K	0.3%	—	—	COM	10806X102
KBDC	KAYNE ANDERSON BDC INC	20,000	$271K	0.1%	—	—	COM SHS	48662X105
GOSS	GOSSAMER BIO INC	18,176	$2,992	0.0%	—	—	COM	38341P102