MPM BioImpact LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AGIO	Agios Pharmaceuticals Inc	1,303,373	$35,478	4.1%	$35.08	0.0%	Common	00847X104
QURE	Uniqure NV	1,381,628	$33,062	3.8%	$38.59	0.0%	Common	N90064101
ALMS	Alumis Inc	2,401,992	$23,443	2.7%	$6.98	0.0%	Common	022307102
CRVS	Corvus Pharmaceuticals Inc	2,743,671	$21,126	2.4%	$7.89	0.0%	Common	221015100
GLUE	Monte Rosa Therapeutics Inc	1,173,376	$18,399	2.1%	$13.48	0.0%	Common	61225M102
DRUG	Bright Minds Biosciences Inc	230,147	$17,961	2.1%	$66.83	0.0%	Common	10919W405
PTGX	Protagonist Therapeutics Inc	199,471	$17,422	2.0%	$81.85	0.0%	Common	74366E102
ARQT	Arcutis Biotherapeutics Inc	531,200	$15,426	1.8%	$25.60	0.0%	Common	03969K108
VTYX	Ventyx Biosciences Inc	1,639,061	$14,801	1.7%	$7.47	0.0%	Common	92332V107
BLTE	Belite Bio Inc	87,760	$14,038	1.6%	$159.96	—	SPONSORED ADS	07782B104
RAPT	RAPT Therapeutics Inc	397,906	$13,477	1.5%	$31.06	0.0%	Common	75382E208
CLYM	Climb Bio Inc	2,671,480	$10,686	1.2%	$2.40	0.0%	Common	28658R106
ABVX	Abivax SA	56,316	$7,594	0.9%	$134.85	—	SPONSORED ADS	00370M103
MAZE	Maze Therapeutics Inc	81,145	$3,362	0.4%	$34.37	0.0%	Common	578784100
EVMN	Evommune Inc	113,022	$1,935	0.2%	$18.78	0.0%	Common	30054Y107

Increased Positions (6)

LQDA Liquidia Corp 5.5%

Value ($000) $48,316 (+962.4%) Shares 1,400,869 (+600.4%) Est. Cost $27.50 Unrealized +3.5%

RVMD Revolution Medicines, Inc. 4.6%

Value ($000) $40,277 (+173.2%) Shares 505,672 (+60.2%) Est. Cost $42.93 Unrealized +52.7%

URGN Urogen Pharma Ltd 2.5%

Value ($000) $22,047 (+718.6%) Shares 941,378 (+597.3%) Est. Cost $21.16 Unrealized +2.5%

PVLA Palvella Therapeutics Inc 2.5%

Value ($000) $21,535 (+409.5%) Shares 205,745 (+205.2%) Est. Cost $71.96 Unrealized +18.5%

ENGN enGene Holdings, Inc. 1.9%

Value ($000) $16,623 (+359.0%) Shares 1,840,898 (+247.1%) Est. Cost $7.02 Unrealized +14.2%

ORIC Oric Pharmaceuticals Inc 1.7%

Value ($000) $14,714 (-29.1%) Shares 1,798,717 (+4.0%) Est. Cost $8.48 Unrealized +35.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LQDA	Liquidia Corp	1,400,869 (+600.4%)	$48,316 (+962.4%)	5.5%	$27.50	+3.5%	Common	53635D202
RVMD	Revolution Medicines, Inc.	505,672 (+60.2%)	$40,277 (+173.2%)	4.6%	$42.93	+52.7%	Common	76155X100
URGN	Urogen Pharma Ltd	941,378 (+597.3%)	$22,047 (+718.6%)	2.5%	$21.16	+2.5%	Common	M96088105
PVLA	Palvella Therapeutics Inc	205,745 (+205.2%)	$21,535 (+409.5%)	2.5%	$71.96	+18.5%	Common	697947109
ENGN	enGene Holdings, Inc.	1,840,898 (+247.1%)	$16,623 (+359.0%)	1.9%	$7.02	+14.2%	Common	29286M105
ORIC	Oric Pharmaceuticals Inc	1,798,717 (+4.0%)	$14,714 (-29.1%)	1.7%	$8.48	+35.8%	Common	68622P109

Exited Positions (17)

RNA Avidity Biosciences Inc 3.8%

Value ($000) $33,114 Shares 760,022 Est. Cost $39.95 Unrealized +61.7%

ZLAB Zai Lab Ltd 2.9%

Value ($000) $25,250 Shares 745,060 Est. Cost $26.59 Unrealized —

CMPX Compass Therapeutics, Inc. 2.0%

Value ($000) $17,766 Shares 5,075,970 Est. Cost $1.57 Unrealized +193.3%

ALKS Alkermes Plc 1.9%

Value ($000) $16,478 Shares 549,262 Est. Cost $31.51 Unrealized -5.0%

VERA Vera Therapeutics Inc. 1.9%

Value ($000) $16,363 Shares 563,075 Est. Cost $35.17 Unrealized +1.0%

JANX Janux Therapeutics Inc 1.7%

Value ($000) $15,013 Shares 614,282 Est. Cost $39.90 Unrealized -41.1%

SPRY ARS Pharmaceuticals Inc 1.5%

Value ($000) $13,099 Shares 1,303,399 Est. Cost $12.03 Unrealized -19.2%

RARE Ultragenyx Pharmaceutical Inc 1.4%

Value ($000) $11,903 Shares 395,700 Est. Cost $46.13 Unrealized -28.7%

WVE Wave Life Sciences PTE LTD 1.3%

Value ($000) $11,019 Shares 1,505,262 Est. Cost $10.27 Unrealized -1.0%

SLNO Soleno Therapeutics Inc 1.2%

Value ($000) $10,140 Shares 150,000 Est. Cost $74.37 Unrealized -26.3%

SLDB Solid Biosciences Inc 1.2%

Value ($000) $10,085 Shares 1,634,569 Est. Cost $4.28 Unrealized +26.6%

AKBA Akebia Therapeutics Inc 0.9%

Value ($000) $7,887 Shares 2,889,125 Est. Cost $2.75 Unrealized -23.8%

DSGN Design Therapeutics Inc 0.5%

Value ($000) $4,181 Shares 555,187 Est. Cost $5.79 Unrealized +35.3%

RNAC Cartesian Therapeutics Inc 0.4%

Value ($000) $3,884 Shares 380,000 Est. Cost $19.06 Unrealized -57.6%

RAPP Rapport Therapeutics Inc 0.2%

Value ($000) $2,133 Shares 71,807 Est. Cost $17.84 Unrealized +55.1%

— Repare Therapeutics, Inc. 0.2%

Value ($000) $1,443 Shares 819,924 Est. Cost $31.02 Unrealized —

ASMB Assembly Biosciences Inc 0.1%

Value ($000) $1,015 Shares 39,665 Est. Cost $21.94 Unrealized +46.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RNA	Avidity Biosciences Inc	760,022	$33,114	3.8%	$39.95	+61.7%	—	05370A108
ZLAB	Zai Lab Ltd	745,060	$25,250	2.9%	$26.59	—	—	98887Q104
CMPX	Compass Therapeutics, Inc.	5,075,970	$17,766	2.0%	$1.57	+193.3%	—	20454B104
ALKS	Alkermes Plc	549,262	$16,478	1.9%	$31.51	-5.0%	—	G01767105
VERA	Vera Therapeutics Inc.	563,075	$16,363	1.9%	$35.17	+1.0%	—	92337R101
JANX	Janux Therapeutics Inc	614,282	$15,013	1.7%	$39.90	-41.1%	—	47103J105
SPRY	ARS Pharmaceuticals Inc	1,303,399	$13,099	1.5%	$12.03	-19.2%	—	82835W108
RARE	Ultragenyx Pharmaceutical Inc	395,700	$11,903	1.4%	$46.13	-28.7%	—	90400D108
WVE	Wave Life Sciences PTE LTD	1,505,262	$11,019	1.3%	$10.27	-1.0%	—	Y95308105
SLNO	Soleno Therapeutics Inc	150,000	$10,140	1.2%	$74.37	-26.3%	—	834203309
SLDB	Solid Biosciences Inc	1,634,569	$10,085	1.2%	$4.28	+26.6%	—	83422E204
AKBA	Akebia Therapeutics Inc	2,889,125	$7,887	0.9%	$2.75	-23.8%	—	00972D105
DSGN	Design Therapeutics Inc	555,187	$4,181	0.5%	$5.79	+35.3%	—	25056L103
RNAC	Cartesian Therapeutics Inc	380,000	$3,884	0.4%	$19.06	-57.6%	—	816212302
RAPP	Rapport Therapeutics Inc	71,807	$2,133	0.2%	$17.84	+55.1%	—	75383L102
—	Repare Therapeutics, Inc.	819,924	$1,443	0.2%	$31.02	—	—	760273102
ASMB	Assembly Biosciences Inc	39,665	$1,015	0.1%	$21.94	+46.8%	—	045396207

Decreased Positions (16)

EWTX Edgewise Therapeutics Inc 4.7%

Value ($000) $41,075 (+47.2%) Shares 1,655,256 (-3.8%) Est. Cost $17.71 Unrealized +13.4%

SRPT Sarepta Therapeutics Inc 0.2%

Value ($000) $1,506 (-88.8%) Shares 70,000 (-90.0%) Est. Cost $29.24 Unrealized -27.9%

MDGL Madrigal Pharmaceuticals Inc 6.4%

Value ($000) $56,359 (+22.4%) Shares 96,780 (-3.6%) Est. Cost $328.59 Unrealized +55.4%

TRVI Trevi Therapeutics Inc 4.7%

Value ($000) $41,154 (+32.0%) Shares 3,287,087 (-3.5%) Est. Cost $2.95 Unrealized +291.6%

DYN Dyne Therapeutics, Inc. 3.1%

Value ($000) $27,489 (+50.2%) Shares 1,405,388 (-2.8%) Est. Cost $11.01 Unrealized +72.0%

DBVT DBV Technologies S A 2.2%

Value ($000) $19,109 (+81.2%) Shares 996,825 (-5.5%) Est. Cost $9.15 Unrealized —

RCKT Rocket Pharmaceuticals, Inc. 0.6%

Value ($000) $5,567 (-56.3%) Shares 1,586,076 (-59.4%) Est. Cost $9.83 Unrealized -65.2%

RLAY Relay Therapeutics Inc. 2.2%

Value ($000) $18,887 (+58.5%) Shares 2,232,451 (-2.2%) Est. Cost $10.70 Unrealized -33.3%

SNDX Syndax Pharmaceuticals Inc 3.2%

Value ($000) $28,105 (+32.8%) Shares 1,337,702 (-2.8%) Est. Cost $13.09 Unrealized +33.3%

TARS Tarsus Pharmaceuticals Inc 3.1%

Value ($000) $26,928 (+32.7%) Shares 328,869 (-3.7%) Est. Cost $45.00 Unrealized +65.9%

STOK Stoke Therapeutics Inc 2.8%

Value ($000) $24,449 (+31.7%) Shares 770,289 (-2.5%) Est. Cost $13.06 Unrealized +130.2%

PTCT PTC Therapeutics Inc 3.7%

Value ($000) $32,664 (+21.4%) Shares 430,013 (-1.9%) Est. Cost $40.98 Unrealized +77.3%

NTRA Natera Inc 2.5%

Value ($000) $21,432 (+34.6%) Shares 93,551 (-5.4%) Est. Cost $76.08 Unrealized +174.2%

HOWL Werewolf Therapeutics, Inc. 0.1%

Value ($000) $884 (-81.4%) Shares 1,393,557 (-42.1%) Est. Cost $13.70 Unrealized -91.1%

XENE Xenon Pharmaceuticals Inc 2.5%

Value ($000) $21,765 (+7.7%) Shares 485,620 (-3.5%) Est. Cost $37.76 Unrealized +11.2%

CNTX Context Therapeutics Inc 1.8%

Value ($000) $15,699 (+10.2%) Shares 10,679,391 (-27.4%) Est. Cost $1.73 Unrealized -32.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWTX	Edgewise Therapeutics Inc	1,655,256 (-3.8%)	$41,075 (+47.2%)	4.7%	$17.71	+13.4%	Common	28036F105
SRPT	Sarepta Therapeutics Inc	70,000 (-90.0%)	$1,506 (-88.8%)	0.2%	$29.24	-27.9%	Common	803607100
MDGL	Madrigal Pharmaceuticals Inc	96,780 (-3.6%)	$56,359 (+22.4%)	6.4%	$328.59	+55.4%	Common	558868105
TRVI	Trevi Therapeutics Inc	3,287,087 (-3.5%)	$41,154 (+32.0%)	4.7%	$2.95	+291.6%	Common	89532M101
DYN	Dyne Therapeutics, Inc.	1,405,388 (-2.8%)	$27,489 (+50.2%)	3.1%	$11.01	+72.0%	Common	26818M108
DBVT	DBV Technologies S A	996,825 (-5.5%)	$19,109 (+81.2%)	2.2%	$9.15	—	SPONSORED ADS	23306J309
RCKT	Rocket Pharmaceuticals, Inc.	1,586,076 (-59.4%)	$5,567 (-56.3%)	0.6%	$9.83	-65.2%	Common	77313F106
RLAY	Relay Therapeutics Inc.	2,232,451 (-2.2%)	$18,887 (+58.5%)	2.2%	$10.70	-33.3%	Common	75943R102
SNDX	Syndax Pharmaceuticals Inc	1,337,702 (-2.8%)	$28,105 (+32.8%)	3.2%	$13.09	+33.3%	Common	87164F105
TARS	Tarsus Pharmaceuticals Inc	328,869 (-3.7%)	$26,928 (+32.7%)	3.1%	$45.00	+65.9%	Common	87650L103
STOK	Stoke Therapeutics Inc	770,289 (-2.5%)	$24,449 (+31.7%)	2.8%	$13.06	+130.2%	Common	86150R107
PTCT	PTC Therapeutics Inc	430,013 (-1.9%)	$32,664 (+21.4%)	3.7%	$40.98	+77.3%	Common	69366J200
NTRA	Natera Inc	93,551 (-5.4%)	$21,432 (+34.6%)	2.5%	$76.08	+174.2%	Common	632307104
HOWL	Werewolf Therapeutics, Inc.	1,393,557 (-42.1%)	$884 (-81.4%)	0.1%	$13.70	-91.1%	Common	95075A107
XENE	Xenon Pharmaceuticals Inc	485,620 (-3.5%)	$21,765 (+7.7%)	2.5%	$37.76	+11.2%	Common	98420N105
CNTX	Context Therapeutics Inc	10,679,391 (-27.4%)	$15,699 (+10.2%)	1.8%	$1.73	-32.5%	Common	21077P108

Unchanged Positions (1)

CGEM Cullinan Therapeutics, Inc. 9.1%

Value ($000) $79,160 Shares 7,648,268 Est. Cost $40.60 Unrealized -77.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CGEM	Cullinan Therapeutics, Inc.	7,648,268	$79,160	9.1%	$40.60	-77.8%	Common	230031106