Birchview Capital, LP Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LRCX	LAM RESEARCH CORPORATION	40,329	$6,904	4.0%	$155.36	0.0%	COM NEW	512807306
VERA	VERA THERAPEUTICS INC	44,000	$2,228	1.3%	$35.52	0.0%	CL A	92337R101
VSTM	VERASTEM INC	150,000	$1,158	0.7%	$8.91	0.0%	COM NEW	92337C203
TXG	10X GENOMICS INC	59,000	$962	0.6%	$15.11	0.0%	COM	88025U109
ILMN	ILLUMINA INC	6,000	$787	0.5%	$117.40	0.0%	COM	452327109
—	BIOHAVEN LTD	59,365	$670	0.4%	$11.29	—	COM	G11196105
LUNG	PULMONX CORP	250,573	$554	0.3%	$1.88	0.0%	COM	745848101
RAPT	RAPT THERAPEUTICS INC	15,000	$508	0.3%	$31.06	0.0%	COM NEW	75382E208
LQDA	LIQUIDIA TECHNOLOGIES INC	10,000	$345	0.2%	$28.47	0.0%	COM	53635D202
TRIN	TRINITY CAP INC	20,000	$293	0.2%	$14.09	0.0%	COM	896442308
KBDC	KAYNE ANDERSON BDC INC	20,000	$286	0.2%	$14.18	0.0%	COM SHS	48662X105

Increased Positions (18)

CMPX COMPASS THERAPEUTICS INC 5.0%

Value ($000) $8,554 (+180.0%) Shares 1,592,938 (+82.5%) Est. Cost $3.82 Unrealized +20.9%

OLMA OLEMA PHARMACEUTICALS INC 3.9%

Value ($000) $6,725 (+294.8%) Shares 269,000 (+54.6%) Est. Cost $9.40 Unrealized +89.3%

GPCR STRUCTURE THERAPEUTICS INC 3.7%

Value ($000) $6,260 (+186.6%) Shares 90,000 (+15.4%) Est. Cost $30.64 Unrealized —

STOK STOKE THERAPEUTICS INC 4.8%

Value ($000) $8,252 (+67.2%) Shares 260,000 (+23.8%) Est. Cost $12.13 Unrealized +147.9%

PHAT PHATHOM PHARMACEUTICALS INC 1.9%

Value ($000) $3,235 (+223.4%) Shares 195,000 (+129.4%) Est. Cost $11.94 Unrealized +19.6%

SLDB SOLID BIOSCIENCES INC 2.3%

Value ($000) $3,982 (+117.3%) Shares 705,955 (+137.7%) Est. Cost $5.15 Unrealized +5.2%

BCYC BICYCLE THERAPEUTICS PLC 1.9%

Value ($000) $3,276 (+174.8%) Shares 462,700 (+200.5%) Est. Cost $7.30 Unrealized —

NTLA INTELLIA THERAPEUTICS INC 1.7%

Value ($000) $2,835 (+173.6%) Shares 315,400 (+425.7%) Est. Cost $12.71 Unrealized +8.3%

PTGX PROTAGONIST THERAPEUTICS INC 2.8%

Value ($000) $4,804 (+50.7%) Shares 55,000 (+14.6%) Est. Cost $39.90 Unrealized +105.1%

IMNM IMMUNOME INC 1.6%

Value ($000) $2,792 (+127.1%) Shares 130,000 (+23.8%) Est. Cost $10.60 Unrealized +65.5%

NKTR NEKTAR THERAPEUTICS 0.8%

Value ($000) $1,311 (+472.9%) Shares 31,000 (+671.0%) Est. Cost $53.00 Unrealized +5.6%

RARE ULTRAGENYX PHARMACEUTICAL INC 0.8%

Value ($000) $1,426 (+115.5%) Shares 62,000 (+181.8%) Est. Cost $37.12 Unrealized -11.4%

— OUTSET MEDICAL INC 0.2%

Value ($000) $367 (-66.9%) Shares 98,913 (+25.9%) Est. Cost $9.28 Unrealized —

NVCR NOVOCURE LTD 1.2%

Value ($000) $1,967 (+49.1%) Shares 152,100 (+49.0%) Est. Cost $16.18 Unrealized -20.7%

TMCI TREACE MEDICAL CONCEPTS INC 0.3%

Value ($000) $556 (-53.2%) Shares 226,947 (+28.3%) Est. Cost $6.12 Unrealized -29.0%

VTYX VENTYX BIOSCIENCES INC 0.5%

Value ($000) $910 (+196.2%) Shares 100,827 (+2.0%) Est. Cost $8.08 Unrealized -7.5%

PHVS PHARVARIS N V 0.5%

Value ($000) $828 (+123.6%) Shares 29,847 (+101.0%) Est. Cost $23.14 Unrealized +4.1%

AXSM AXSOME THERAPEUTICS INC 0.6%

Value ($000) $1,107 (+51.9%) Shares 6,061 (+1.0%) Est. Cost $94.39 Unrealized +47.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CMPX	COMPASS THERAPEUTICS INC	1,592,938 (+82.5%)	$8,554 (+180.0%)	5.0%	$3.82	+20.9%	COM	20454B104
OLMA	OLEMA PHARMACEUTICALS INC	269,000 (+54.6%)	$6,725 (+294.8%)	3.9%	$9.40	+89.3%	COM	68062P106
GPCR	STRUCTURE THERAPEUTICS INC	90,000 (+15.4%)	$6,260 (+186.6%)	3.7%	$30.64	—	SPONS ADR	86366E106
STOK	STOKE THERAPEUTICS INC	260,000 (+23.8%)	$8,252 (+67.2%)	4.8%	$12.13	+147.9%	COM	86150R107
PHAT	PHATHOM PHARMACEUTICALS INC	195,000 (+129.4%)	$3,235 (+223.4%)	1.9%	$11.94	+19.6%	COM	71722W107
SLDB	SOLID BIOSCIENCES INC	705,955 (+137.7%)	$3,982 (+117.3%)	2.3%	$5.15	+5.2%	COM NEW	83422E204
BCYC	BICYCLE THERAPEUTICS PLC	462,700 (+200.5%)	$3,276 (+174.8%)	1.9%	$7.30	—	SPONSORED ADS	088786108
NTLA	INTELLIA THERAPEUTICS INC	315,400 (+425.7%)	$2,835 (+173.6%)	1.7%	$12.71	+8.3%	COM	45826J105
PTGX	PROTAGONIST THERAPEUTICS INC	55,000 (+14.6%)	$4,804 (+50.7%)	2.8%	$39.90	+105.1%	COM	74366E102
IMNM	IMMUNOME INC	130,000 (+23.8%)	$2,792 (+127.1%)	1.6%	$10.60	+65.5%	COM	45257U108
NKTR	NEKTAR THERAPEUTICS	31,000 (+671.0%)	$1,311 (+472.9%)	0.8%	$53.00	+5.6%	COM	640268306
RARE	ULTRAGENYX PHARMACEUTICAL INC	62,000 (+181.8%)	$1,426 (+115.5%)	0.8%	$37.12	-11.4%	COM	90400D108
—	OUTSET MEDICAL INC	98,913 (+25.9%)	$367 (-66.9%)	0.2%	$9.28	—	COM	690145107
NVCR	NOVOCURE LTD	152,100 (+49.0%)	$1,967 (+49.1%)	1.2%	$16.18	-20.7%	ORD SHS	G6674U108
TMCI	TREACE MEDICAL CONCEPTS INC	226,947 (+28.3%)	$556 (-53.2%)	0.3%	$6.12	-29.0%	COM	89455T109
VTYX	VENTYX BIOSCIENCES INC	100,827 (+2.0%)	$910 (+196.2%)	0.5%	$8.08	-7.5%	COM	92332V107
PHVS	PHARVARIS N V	29,847 (+101.0%)	$828 (+123.6%)	0.5%	$23.14	+4.1%	COM	N69605108
AXSM	AXSOME THERAPEUTICS INC	6,061 (+1.0%)	$1,107 (+51.9%)	0.6%	$94.39	+47.9%	COM	05464T104

Exited Positions (12)

AXGN AXOGEN INC 1.2%

Value ($000) $2,124 Shares 119,078 Est. Cost $7.40 Unrealized +232.3%

— KINIKSA PHARMACEUTICALS LTD 0.7%

Value ($000) $1,165 Shares 30,000 Est. Cost $13.10 Unrealized —

SRRK SCHOLAR ROCK HOLDING CORP 0.6%

Value ($000) $968 Shares 26,000 Est. Cost $35.31 Unrealized +6.2%

AVTX AVALO THERAPEUTICS INC 0.2%

Value ($000) $394 Shares 31,000 Est. Cost $8.60 Unrealized +96.3%

GH GUARDANT HEALTH INC 0.2%

Value ($000) $375 Shares 6,000 Est. Cost $54.40 Unrealized +64.5%

ZBIO ZENAS BIOPHARMA INC 0.2%

Value ($000) $366 Shares 16,500 Est. Cost $15.60 Unrealized +110.8%

KIDS ORTHOPEDIATRICS CORP 0.2%

Value ($000) $296 Shares 16,000 Est. Cost $23.99 Unrealized -27.0%

TELA TELA BIO INC 0.1%

Value ($000) $231 Shares 155,000 Est. Cost $2.74 Unrealized -53.9%

XLV HEALTHCARE SELECT SECTOR SPDR FUND 0.1%

Value ($000) $208 Shares 1,498 Est. Cost $139.17 Unrealized —

— KARYOPHARM THERAPEUTICS INC 0.1%

Value ($000) $183 Shares 27,985 Est. Cost $7.53 Unrealized —

— APPLIED THERAPEUTICS INC 0.1%

Value ($000) $136 Shares 225,000 Est. Cost $0.31 Unrealized —

IFRX INFLARX NV 0.0%

Value ($000) $67 Shares 50,000 Est. Cost $3.70 Unrealized -66.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AXGN	AXOGEN INC	119,078	$2,124	1.2%	$7.40	+232.3%	—	05463X106
—	KINIKSA PHARMACEUTICALS LTD	30,000	$1,165	0.7%	$13.10	—	—	G5269C101
SRRK	SCHOLAR ROCK HOLDING CORP	26,000	$968	0.6%	$35.31	+6.2%	—	80706P103
AVTX	AVALO THERAPEUTICS INC	31,000	$394	0.2%	$8.60	+96.3%	—	05338F306
GH	GUARDANT HEALTH INC	6,000	$375	0.2%	$54.40	+64.5%	—	40131M109
ZBIO	ZENAS BIOPHARMA INC	16,500	$366	0.2%	$15.60	+110.8%	—	98937L105
KIDS	ORTHOPEDIATRICS CORP	16,000	$296	0.2%	$23.99	-27.0%	—	68752L100
TELA	TELA BIO INC	155,000	$231	0.1%	$2.74	-53.9%	—	872381108
XLV	HEALTHCARE SELECT SECTOR SPDR FUND	1,498	$208	0.1%	$139.17	—	—	81369Y209
—	KARYOPHARM THERAPEUTICS INC	27,985	$183	0.1%	$7.53	—	—	48576U106
—	APPLIED THERAPEUTICS INC	225,000	$136	0.1%	$0.31	—	—	03828A101
IFRX	INFLARX NV	50,000	$67	0.0%	$3.70	-66.5%	—	N44821101

Decreased Positions (13)

QURE UNIQURE NV 0.4%

Value ($000) $737 (-84.0%) Shares 30,789 (-60.9%) Est. Cost $12.44 Unrealized +210.1%

BMY BRISTOL-MYERS SQUIBB CO 9.6%

Value ($000) $16,335 (+14.3%) Shares 302,842 (-4.4%) Est. Cost $44.70 Unrealized +6.3%

PRTA PROTHENA CORP PLC 2.5%

Value ($000) $4,212 (-21.4%) Shares 441,019 (-19.7%) Est. Cost $20.83 Unrealized -51.1%

DCGO DOCGO INC 0.0%

Value ($000) $44 (-95.8%) Shares 49,908 (-93.5%) Est. Cost $4.44 Unrealized -76.0%

PHR PHREESIA INC 1.1%

Value ($000) $1,873 (-30.6%) Shares 110,700 (-3.5%) Est. Cost $21.44 Unrealized -3.8%

INBX INHIBRX BIOSCIENCES INC 0.2%

Value ($000) $292 (-72.6%) Shares 3,698 (-88.3%) Est. Cost $14.64 Unrealized +365.3%

CSTL CASTLE BIOSCIENCES INC 1.8%

Value ($000) $3,135 (+24.5%) Shares 80,600 (-27.1%) Est. Cost $23.48 Unrealized +37.3%

ELUT ELUTIA INC 0.1%

Value ($000) $182 (-71.2%) Shares 263,018 (-63.0%) Est. Cost $5.84 Unrealized -87.0%

VYGR VOYAGER THERAPEUTICS INC 0.2%

Value ($000) $294 (-53.3%) Shares 74,918 (-44.5%) Est. Cost $4.67 Unrealized —

HROW HARROW HEALTH INC 1.0%

Value ($000) $1,666 (-13.6%) Shares 34,000 (-15.0%) Est. Cost $6.05 Unrealized +594.4%

NBIX NEUROCRINE BIOSCIENCES INC 2.3%

Value ($000) $3,856 (-4.2%) Shares 27,190 (-5.2%) Est. Cost $73.35 Unrealized +97.5%

KALV KALVISTA PHARMACEUTICALS INC 0.5%

Value ($000) $921 (+12.8%) Shares 57,000 (-14.9%) Est. Cost $15.61 Unrealized -15.2%

ATEC ALPHATEC HOLDINGS INC 0.2%

Value ($000) $380 (-20.8%) Shares 18,058 (-45.3%) Est. Cost $8.72 Unrealized +112.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QURE	UNIQURE NV	30,789 (-60.9%)	$737 (-84.0%)	0.4%	$12.44	+210.1%	SHS	N90064101
BMY	BRISTOL-MYERS SQUIBB CO	302,842 (-4.4%)	$16,335 (+14.3%)	9.6%	$44.70	+6.3%	COM	110122108
PRTA	PROTHENA CORP PLC	441,019 (-19.7%)	$4,212 (-21.4%)	2.5%	$20.83	-51.1%	SHS	G72800108
DCGO	DOCGO INC	49,908 (-93.5%)	$44 (-95.8%)	0.0%	$4.44	-76.0%	COM	256086109
PHR	PHREESIA INC	110,700 (-3.5%)	$1,873 (-30.6%)	1.1%	$21.44	-3.8%	COM	71944F106
INBX	INHIBRX BIOSCIENCES INC	3,698 (-88.3%)	$292 (-72.6%)	0.2%	$14.64	+365.3%	COM	45720N103
CSTL	CASTLE BIOSCIENCES INC	80,600 (-27.1%)	$3,135 (+24.5%)	1.8%	$23.48	+37.3%	COM	14843C105
ELUT	ELUTIA INC	263,018 (-63.0%)	$182 (-71.2%)	0.1%	$5.84	-87.0%	COM	05479K106
VYGR	VOYAGER THERAPEUTICS INC	74,918 (-44.5%)	$294 (-53.3%)	0.2%	$4.67	—	COM	92915B106
HROW	HARROW HEALTH INC	34,000 (-15.0%)	$1,666 (-13.6%)	1.0%	$6.05	+594.4%	COM	415858109
NBIX	NEUROCRINE BIOSCIENCES INC	27,190 (-5.2%)	$3,856 (-4.2%)	2.3%	$73.35	+97.5%	COM	64125C109
KALV	KALVISTA PHARMACEUTICALS INC	57,000 (-14.9%)	$921 (+12.8%)	0.5%	$15.61	-15.2%	COM	483497103
ATEC	ALPHATEC HOLDINGS INC	18,058 (-45.3%)	$380 (-20.8%)	0.2%	$8.72	+112.2%	COM	02081G201

Unchanged Positions (26)

CORT CORCEPT THERAPEUTICS INC 1.4%

Value ($000) $2,339 Shares 67,200 Est. Cost $14.57 Unrealized +439.2%

KLAC KLA CORPORATION 15.6%

Value ($000) $26,590 Shares 21,883 Est. Cost $798.69 Unrealized +46.7%

FOLD AMICUS THERAPEUTICS INC 2.1%

Value ($000) $3,603 Shares 253,000 Est. Cost $7.94 Unrealized +23.7%

ACAD ACADIA PHARMACEUTICALS INC 2.7%

Value ($000) $4,567 Shares 171,000 Est. Cost $27.98 Unrealized -14.6%

TVTX TRAVERE THERAPEUTICS INC 1.0%

Value ($000) $1,643 Shares 43,000 Est. Cost $13.34 Unrealized +143.7%

APGE APOGEE THERAPEUTICS INC 0.7%

Value ($000) $1,208 Shares 16,000 Est. Cost $38.35 Unrealized +64.2%

PACB PACIFIC BIOSCIENCES OF CALIFORNIA INC 0.5%

Value ($000) $935 Shares 500,000 Est. Cost $1.19 Unrealized +60.9%

CYTK CYTOKINETICS INC 1.1%

Value ($000) $1,906 Shares 30,000 Est. Cost $36.48 Unrealized +70.5%

— BIODESIX INC 1.1%

Value ($000) $1,950 Shares 286,804 Est. Cost $4.49 Unrealized —

BBIO BRIDGEBIO PHARMA INC 0.4%

Value ($000) $665 Shares 8,688 Est. Cost $41.64 Unrealized +57.7%

FCX FREEPORT-MCMORAN CL-B 0.5%

Value ($000) $917 Shares 18,046 Est. Cost $37.70 Unrealized +14.9%

UTHR UNITED THERAPEUTICS CORP 0.9%

Value ($000) $1,462 Shares 3,000 Est. Cost $93.09 Unrealized +400.3%

MASI MASIMO CORP 0.6%

Value ($000) $1,077 Shares 8,280 Est. Cost $81.54 Unrealized +75.6%

FHTX FOGHORN THERAPEUTICS INC 0.9%

Value ($000) $1,521 Shares 281,730 Est. Cost $16.56 Unrealized -72.6%

OVV OVINTIV INC 2.5%

Value ($000) $4,213 Shares 107,500 Est. Cost $35.12 Unrealized +10.4%

ALKS ALKERMES PLC 0.8%

Value ($000) $1,399 Shares 50,000 Est. Cost $21.00 Unrealized +42.6%

XENE XENON PHARMACEUTICALS INC 0.6%

Value ($000) $941 Shares 21,000 Est. Cost $34.29 Unrealized +22.5%

CGEM CULLINAN THERAPEUTICS INC 0.1%

Value ($000) $207 Shares 20,000 Est. Cost $40.60 Unrealized -77.8%

GOSS GOSSAMER BIO INC 0.3%

Value ($000) $428 Shares 138,176 Est. Cost $5.35 Unrealized -46.7%

— QUIDELORTHO CORP 1.2%

Value ($000) $2,072 Shares 72,548 Est. Cost $65.09 Unrealized —

HALO HALOZYME THERAPEUTICS INC 0.4%

Value ($000) $680 Shares 10,100 Est. Cost $51.35 Unrealized +31.0%

ALMS ALUMIS INC 0.1%

Value ($000) $98 Shares 10,000 Est. Cost $12.13 Unrealized -42.4%

APLS APELLIS PHARMACEUTICALS INC 0.2%

Value ($000) $352 Shares 14,000 Est. Cost $39.43 Unrealized -40.5%

CADL CANDEL THERAPEUTICS INC 0.2%

Value ($000) $339 Shares 60,000 Est. Cost $5.91 Unrealized -8.9%

EQT EQT CORPORATION 1.1%

Value ($000) $1,856 Shares 34,619 Est. Cost $33.40 Unrealized +68.1%

ZNTL ZENTALIS PHARMACEUTICALS INC 0.0%

Value ($000) $23 Shares 17,000 Est. Cost $13.92 Unrealized -89.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CORT	CORCEPT THERAPEUTICS INC	67,200	$2,339	1.4%	$14.57	+439.2%	COM	218352102
KLAC	KLA CORPORATION	21,883	$26,590	15.6%	$798.69	+46.7%	COM NEW	482480100
FOLD	AMICUS THERAPEUTICS INC	253,000	$3,603	2.1%	$7.94	+23.7%	COM	03152W109
ACAD	ACADIA PHARMACEUTICALS INC	171,000	$4,567	2.7%	$27.98	-14.6%	COM	004225108
TVTX	TRAVERE THERAPEUTICS INC	43,000	$1,643	1.0%	$13.34	+143.7%	COM	89422G107
APGE	APOGEE THERAPEUTICS INC	16,000	$1,208	0.7%	$38.35	+64.2%	COM	03770N101
PACB	PACIFIC BIOSCIENCES OF CALIFORNIA INC	500,000	$935	0.5%	$1.19	+60.9%	COM	69404D108
CYTK	CYTOKINETICS INC	30,000	$1,906	1.1%	$36.48	+70.5%	COM	23282W605
—	BIODESIX INC	286,804	$1,950	1.1%	$4.49	—	COM	09075X108
BBIO	BRIDGEBIO PHARMA INC	8,688	$665	0.4%	$41.64	+57.7%	COM	10806X102
FCX	FREEPORT-MCMORAN CL-B	18,046	$917	0.5%	$37.70	+14.9%	CL-B	35671D857
UTHR	UNITED THERAPEUTICS CORP	3,000	$1,462	0.9%	$93.09	+400.3%	COM	91307C102
MASI	MASIMO CORP	8,280	$1,077	0.6%	$81.54	+75.6%	COM	574795100
FHTX	FOGHORN THERAPEUTICS INC	281,730	$1,521	0.9%	$16.56	-72.6%	COM	344174107
OVV	OVINTIV INC	107,500	$4,213	2.5%	$35.12	+10.4%	COM	69047Q102
ALKS	ALKERMES PLC	50,000	$1,399	0.8%	$21.00	+42.6%	SHS	G01767105
XENE	XENON PHARMACEUTICALS INC	21,000	$941	0.6%	$34.29	+22.5%	COM	98420N105
CGEM	CULLINAN THERAPEUTICS INC	20,000	$207	0.1%	$40.60	-77.8%	COM	230031106
GOSS	GOSSAMER BIO INC	138,176	$428	0.3%	$5.35	-46.7%	COM	38341P102
—	QUIDELORTHO CORP	72,548	$2,072	1.2%	$65.09	—	COM	74838J101
HALO	HALOZYME THERAPEUTICS INC	10,100	$680	0.4%	$51.35	+31.0%	COM	40637H109
ALMS	ALUMIS INC	10,000	$98	0.1%	$12.13	-42.4%	COM	022307102
APLS	APELLIS PHARMACEUTICALS INC	14,000	$352	0.2%	$39.43	-40.5%	COM	03753U106
CADL	CANDEL THERAPEUTICS INC	60,000	$339	0.2%	$5.91	-8.9%	COM	137404109
EQT	EQT CORPORATION	34,619	$1,856	1.1%	$33.40	+68.1%	COM	26884L109
ZNTL	ZENTALIS PHARMACEUTICALS INC	17,000	$23	0.0%	$13.92	-89.5%	COM	98943L107