Siren, L.L.C. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
OLMA	Olema Pharmaceuticals Inc	3,300,700	$82,518	2.5%	$17.79	0.0%	COM	68062P106
ZYME	Zymeworks Inc	1,680,121	$44,238	1.3%	$21.81	0.0%	COM	98985Y108
DBVT	Dbv Technologies SA	1,857,362	$35,606	1.1%	$19.17	—	SPONSORED ADS	23306J309
ENGN	enGene Holdings Inc	3,336,264	$30,126	0.9%	$8.01	0.0%	COM	29286M105
MLYS	Mineralys Therapeutics Inc	699,999	$25,403	0.8%	$40.10	0.0%	COM	603170101
FULC	Fulcrum Therapeutics Inc	1,950,000	$22,055	0.7%	$10.18	0.0%	COM	359616109
MNPR	Monopar Therapeutics Inc	212,298	$13,863	0.4%	$81.71	0.0%	COM NEW	61023L207
IKT	Inhibikase Therapeutics Inc	5,850,000	$11,993	0.4%	$1.59	0.0%	COM NEW	45719W205
—	Mind Medicine (MindMed) Inc	800,000	$10,712	0.3%	$13.39	—	COM NEW	60255C885
BNTC	Benitec Biopharma Inc	775,000	$10,439	0.3%	$13.83	0.0%	COM NEW	08205P209
IVVD	Invivyd Inc	4,000,000	$9,880	0.3%	$2.08	0.0%	COM	00534A102
MPLT	MapLight Therapeutics Inc	450,000	$7,904	0.2%	$16.75	0.0%	COM	56565P103
PVLA	Palvella Therapeutics Inc	75,000	$7,850	0.2%	$85.31	0.0%	COM	697947109
CMPS	Compass Pathways PLC	1,000,000	$6,900	0.2%	$6.90	—	SPONSORED ADS	20451W101
BLLN	BillionToOne Inc	83,833	$6,861	0.2%	$101.40	0.0%	CL A	090168105
ZURA	Zura Bio Ltd	1,300,000	$6,812	0.2%	$3.95	0.0%	CLASS A ORD SHS	G9TY5A101
SVRA	Savara Inc	1,000,000	$6,030	0.2%	$4.90	0.0%	COM	805111101
XFOR	X4 Pharmaceuticals Inc	1,500,000	$6,000	0.2%	$3.63	0.0%	COM NEW	98420X202
ALMS	Alumis Inc	500,000	$4,880	0.1%	$6.98	0.0%	COM	022307102
META	Meta Platforms Inc	7,169	$4,732	0.1%	$667.32	0.0%	CL A	30303M102
MDLN	Medline Inc	75,000	$3,150	0.1%	$42.23	0.0%	COM CL A	58507V107
RANI	Rani Therapeutics Holdings Inc	2,000,000	$2,700	0.1%	$1.51	0.0%	COM CL A	753018100
ZS	Zscaler Inc	12,000	$2,699	0.1%	$282.25	0.0%	COM	98980G102
AVGO	Broadcom Inc	7,000	$2,423	0.1%	$357.00	0.0%	COM	11135F101
ARM	Arm Holdings PLC	21,500	$2,350	0.1%	$109.31	—	SPONSORED ADS	042068205
VRNS	Varonis Systems Inc	37,500	$1,230	0.0%	$41.98	0.0%	COM	922280102

Increased Positions (30)

SRRK Scholar Rock Holding Corp 14.2%

Value ($000) $476,842 (+38.4%) Shares 10,825,013 (+17.0%) Est. Cost $12.96 Unrealized +189.4%

RVMD Revolution Medicines Inc 3.2%

Value ($000) $106,339 (+118.2%) Shares 1,335,075 (+27.9%) Est. Cost $46.57 Unrealized +40.8%

EWTX Edgewise Therapeutics Inc 3.4%

Value ($000) $112,412 (+77.8%) Shares 4,529,990 (+16.2%) Est. Cost $19.44 Unrealized +3.3%

GPCR Structure Therapeutics Inc 2.2%

Value ($000) $75,023 (+160.9%) Shares 1,078,698 (+5.1%) Est. Cost $30.00 Unrealized —

RCUS Arcus Biosciences Inc 2.1%

Value ($000) $71,659 (+80.9%) Shares 3,007,077 (+3.3%) Est. Cost $13.59 Unrealized +50.1%

RAPT RAPT Therapeutics Inc 1.4%

Value ($000) $46,571 (+211.1%) Shares 1,375,000 (+136.9%) Est. Cost $23.47 Unrealized +32.3%

TNGX Tango Therapeutics Inc 2.2%

Value ($000) $72,345 (+46.4%) Shares 8,165,374 (+38.8%) Est. Cost $7.74 Unrealized +11.4%

CNTA Centessa Pharmaceuticals PLC 3.0%

Value ($000) $100,728 (+28.7%) Shares 4,027,517 (+24.8%) Est. Cost $17.45 Unrealized —

SYRE Spyre Therapeutics Inc 0.8%

Value ($000) $26,817 (+334.1%) Shares 818,598 (+122.1%) Est. Cost $27.57 Unrealized -5.2%

IRON Disc Medicine Inc 2.3%

Value ($000) $78,489 (+30.0%) Shares 988,401 (+8.2%) Est. Cost $57.60 Unrealized +46.7%

ONC BeOne Medicines AG 4.5%

Value ($000) $151,905 (-9.6%) Shares 500,000 (+1.4%) Est. Cost $220.70 Unrealized —

DNLI Denali Therapeutics Inc 0.7%

Value ($000) $23,056 (+93.3%) Shares 1,396,513 (+70.0%) Est. Cost $21.53 Unrealized -21.6%

NBP NovaBridge Biosciences 0.4%

Value ($000) $11,940 (+170.9%) Shares 3,000,000 (+157.3%) Est. Cost $3.90 Unrealized —

WK Workiva Inc 0.2%

Value ($000) $6,824 (+164.3%) Shares 79,123 (+163.7%) Est. Cost $86.60 Unrealized +2.2%

NMRA Neumora Therapeutics Inc 0.3%

Value ($000) $11,257 (+41.9%) Shares 6,288,783 (+44.3%) Est. Cost $8.85 Unrealized -75.2%

LXEO Lexeo Therapeutics Inc 0.2%

Value ($000) $7,156 (+78.6%) Shares 720,622 (+19.4%) Est. Cost $11.47 Unrealized -20.4%

TENX Tenax Therapeutics Inc 0.2%

Value ($000) $5,207 (+94.1%) Shares 427,141 (+21.2%) Est. Cost $6.56 Unrealized +32.6%

SLDB Solid Biosciences Inc 1.3%

Value ($000) $43,374 (-5.2%) Shares 7,690,405 (+3.7%) Est. Cost $5.85 Unrealized -7.3%

KLRS Kalaris Therapeutics Inc 0.1%

Value ($000) $3,678 (+99.9%) Shares 435,798 (+36.9%) Est. Cost $8.34 Unrealized -23.4%

NBIS Nebius Group NV 0.2%

Value ($000) $6,380 (-21.7%) Shares 76,218 (+5.0%) Est. Cost $41.72 Unrealized +148.4%

PDD PDD Holdings Inc 0.2%

Value ($000) $7,189 (+25.3%) Shares 63,401 (+46.1%) Est. Cost $121.94 Unrealized —

CRWV CoreWeave Inc 0.1%

Value ($000) $1,969 (-40.0%) Shares 27,500 (+14.6%) Est. Cost $116.15 Unrealized -12.7%

MNDY monday.com Ltd 0.1%

Value ($000) $2,509 (+85.0%) Shares 17,000 (+142.9%) Est. Cost $193.87 Unrealized -13.1%

NOW ServiceNow Inc 0.2%

Value ($000) $5,458 (-16.8%) Shares 35,630 (+400.0%) Est. Cost $172.94 Unrealized -0.8%

CLBT Cellebrite DI Ltd 0.1%

Value ($000) $2,706 (+62.2%) Shares 150,000 (+66.7%) Est. Cost $17.46 Unrealized +2.9%

GTLB GitLab Inc 0.1%

Value ($000) $3,715 (+28.8%) Shares 99,000 (+54.7%) Est. Cost $44.87 Unrealized -3.5%

IREN IREN Ltd 0.0%

Value ($000) $1,628 (+73.5%) Shares 43,100 (+115.5%) Est. Cost $38.92 Unrealized +32.6%

DDOG Datadog Inc 0.1%

Value ($000) $4,953 (+5.7%) Shares 36,425 (+10.6%) Est. Cost $123.82 Unrealized +27.6%

FIG Figma Inc 0.0%

Value ($000) $934 (+20.1%) Shares 25,000 (+66.7%) Est. Cost $59.27 Unrealized -23.8%

DT Dynatrace Inc 0.1%

Value ($000) $4,994 (+2.8%) Shares 115,229 (+15.0%) Est. Cost $48.39 Unrealized -3.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SRRK	Scholar Rock Holding Corp	10,825,013 (+17.0%)	$476,842 (+38.4%)	14.2%	$12.96	+189.4%	COM	80706P103
RVMD	Revolution Medicines Inc	1,335,075 (+27.9%)	$106,339 (+118.2%)	3.2%	$46.57	+40.8%	COM	76155X100
EWTX	Edgewise Therapeutics Inc	4,529,990 (+16.2%)	$112,412 (+77.8%)	3.4%	$19.44	+3.3%	COM	28036F105
GPCR	Structure Therapeutics Inc	1,078,698 (+5.1%)	$75,023 (+160.9%)	2.2%	$30.00	—	SPONSORED ADS	86366E106
RCUS	Arcus Biosciences Inc	3,007,077 (+3.3%)	$71,659 (+80.9%)	2.1%	$13.59	+50.1%	COM	03969F109
RAPT	RAPT Therapeutics Inc	1,375,000 (+136.9%)	$46,571 (+211.1%)	1.4%	$23.47	+32.3%	COM NEW	75382E208
TNGX	Tango Therapeutics Inc	8,165,374 (+38.8%)	$72,345 (+46.4%)	2.2%	$7.74	+11.4%	COM	87583X109
CNTA	Centessa Pharmaceuticals PLC	4,027,517 (+24.8%)	$100,728 (+28.7%)	3.0%	$17.45	—	SPONSORED ADS	152309100
SYRE	Spyre Therapeutics Inc	818,598 (+122.1%)	$26,817 (+334.1%)	0.8%	$27.57	-5.2%	COM NEW	00773J202
IRON	Disc Medicine Inc	988,401 (+8.2%)	$78,489 (+30.0%)	2.3%	$57.60	+46.7%	COM	254604101
ONC	BeOne Medicines AG	500,000 (+1.4%)	$151,905 (-9.6%)	4.5%	$220.70	—	SPONSORED ADS	07725L102
DNLI	Denali Therapeutics Inc	1,396,513 (+70.0%)	$23,056 (+93.3%)	0.7%	$21.53	-21.6%	COM	24823R105
NBP	NovaBridge Biosciences	3,000,000 (+157.3%)	$11,940 (+170.9%)	0.4%	$3.90	—	SPONSORED ADS	44975P103
WK	Workiva Inc	79,123 (+163.7%)	$6,824 (+164.3%)	0.2%	$86.60	+2.2%	COM CL A	98139A105
NMRA	Neumora Therapeutics Inc	6,288,783 (+44.3%)	$11,257 (+41.9%)	0.3%	$8.85	-75.2%	COM	640979100
LXEO	Lexeo Therapeutics Inc	720,622 (+19.4%)	$7,156 (+78.6%)	0.2%	$11.47	-20.4%	COM	52886X107
TENX	Tenax Therapeutics Inc	427,141 (+21.2%)	$5,207 (+94.1%)	0.2%	$6.56	+32.6%	COM NEW	88032L605
SLDB	Solid Biosciences Inc	7,690,405 (+3.7%)	$43,374 (-5.2%)	1.3%	$5.85	-7.3%	COM NEW	83422E204
KLRS	Kalaris Therapeutics Inc	435,798 (+36.9%)	$3,678 (+99.9%)	0.1%	$8.34	-23.4%	COM	482929106
NBIS	Nebius Group NV	76,218 (+5.0%)	$6,380 (-21.7%)	0.2%	$41.72	+148.4%	SHS CLASS A	N97284108
PDD	PDD Holdings Inc	63,401 (+46.1%)	$7,189 (+25.3%)	0.2%	$121.94	—	SPONSORED ADS	722304102
CRWV	CoreWeave Inc	27,500 (+14.6%)	$1,969 (-40.0%)	0.1%	$116.15	-12.7%	COM CL A	21873S108
MNDY	monday.com Ltd	17,000 (+142.9%)	$2,509 (+85.0%)	0.1%	$193.87	-13.1%	SHS	M7S64H106
NOW	ServiceNow Inc	35,630 (+400.0%)	$5,458 (-16.8%)	0.2%	$172.94	-0.8%	COM	81762P102
CLBT	Cellebrite DI Ltd	150,000 (+66.7%)	$2,706 (+62.2%)	0.1%	$17.46	+2.9%	ORDINARY SHARES	M2197Q107
GTLB	GitLab Inc	99,000 (+54.7%)	$3,715 (+28.8%)	0.1%	$44.87	-3.5%	CLASS A COM	37637K108
IREN	IREN Ltd	43,100 (+115.5%)	$1,628 (+73.5%)	0.0%	$38.92	+32.6%	ORDINARY SHARES	Q4982L109
DDOG	Datadog Inc	36,425 (+10.6%)	$4,953 (+5.7%)	0.1%	$123.82	+27.6%	CL A COM	23804L103
FIG	Figma Inc	25,000 (+66.7%)	$934 (+20.1%)	0.0%	$59.27	-23.8%	CLASS A COM STK	316841105
DT	Dynatrace Inc	115,229 (+15.0%)	$4,994 (+2.8%)	0.1%	$48.39	-3.7%	COM NEW	268150109

Exited Positions (28)

RNA Avidity Biosciences Inc 1.7%

Value ($000) $56,014 Shares 1,285,610 Est. Cost $42.99 Unrealized +50.2%

RZLT Rezolute Inc 1.4%

Value ($000) $45,778 Shares 4,870,000 Est. Cost $6.66 Unrealized +17.7%

SLNO Soleno Therapeutics Inc 0.9%

Value ($000) $31,592 Shares 467,342 Est. Cost $50.20 Unrealized +9.2%

NAMS NewAmsterdam Pharma Company NV 0.6%

Value ($000) $21,777 Shares 765,705 Est. Cost $19.51 Unrealized +86.5%

QURE Uniqure NV 0.5%

Value ($000) $16,063 Shares 275,200 Est. Cost $18.16 Unrealized +112.5%

AVBP Arrivent Biopharma Inc 0.4%

Value ($000) $12,915 Shares 700,000 Est. Cost $20.76 Unrealized +0.2%

RNAC Cartesian Therapeutics Inc 0.2%

Value ($000) $5,757 Shares 563,272 Est. Cost $15.62 Unrealized -48.3%

ELDN Eledon Pharmaceuticals Inc 0.2%

Value ($000) $5,368 Shares 2,072,767 Est. Cost $3.32 Unrealized -28.4%

PRQR ProQR Therapeutics NV 0.1%

Value ($000) $3,306 Shares 1,552,183 Est. Cost $3.18 Unrealized -26.4%

BIOA BIOAGE Labs Inc 0.1%

Value ($000) $2,249 Shares 382,406 Est. Cost $19.40 Unrealized -54.3%

KDP Keurig Dr Pepper Inc 0.1%

Value ($000) $1,966 Shares 77,050 Est. Cost $30.82 Unrealized -11.6%

HUBS HubSpot Inc 0.1%

Value ($000) $1,871 Shares 4,000 Est. Cost $565.03 Unrealized -26.7%

CMG Chipotle Mexican Grill Inc 0.1%

Value ($000) $1,862 Shares 47,500 Est. Cost $45.03 Unrealized -19.7%

SPOT Spotify Technology SA 0.0%

Value ($000) $1,517 Shares 2,173 Est. Cost $699.24 Unrealized -10.6%

NIQ NIQ Global Intelligence PLC 0.0%

Value ($000) $1,492 Shares 95,000 Est. Cost $17.40 Unrealized -15.9%

SAIL SailPoint Inc 0.0%

Value ($000) $1,104 Shares 50,000 Est. Cost $21.79 Unrealized -4.3%

ESTC Elastic NV 0.0%

Value ($000) $1,056 Shares 12,500 Est. Cost $84.19 Unrealized -3.1%

SEMR SEMrush Holdings Inc 0.0%

Value ($000) $885 Shares 125,000 Est. Cost $13.58 Unrealized -31.0%

AS Amer Sports Inc 0.0%

Value ($000) $869 Shares 25,000 Est. Cost $37.71 Unrealized -9.0%

PINS Pinterest Inc 0.0%

Value ($000) $804 Shares 25,000 Est. Cost $36.26 Unrealized -20.6%

CFLT Confluent Inc 0.0%

Value ($000) $743 Shares 37,500 Est. Cost $20.91 Unrealized +17.4%

PCOR Procore Technologies Inc 0.0%

Value ($000) $729 Shares 10,000 Est. Cost $61.37 Unrealized +20.5%

ALAB Astera Labs Inc 0.0%

Value ($000) $685 Shares 3,500 Est. Cost $164.44 Unrealized +1.7%

CHYM Chime Financial Inc 0.0%

Value ($000) $504 Shares 25,000 Est. Cost $28.41 Unrealized -25.2%

CCC CCC Intelligent Solutions Holdings Inc 0.0%

Value ($000) $456 Shares 50,000 Est. Cost $8.94 Unrealized -9.1%

KVUE Kenvue Inc 0.0%

Value ($000) $406 Shares 25,000 Est. Cost $20.06 Unrealized -19.0%

VRT Vertiv Holdings Co 0.0%

Value ($000) $302 Shares 2,000 Est. Cost $97.15 Unrealized +78.7%

IRWD Ironwood Pharmaceuticals Inc 0.0%

Value ($000) $145 Shares 110,532 Est. Cost $5.38 Unrealized -51.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RNA	Avidity Biosciences Inc	1,285,610	$56,014	1.7%	$42.99	+50.2%	—	05370A108
RZLT	Rezolute Inc	4,870,000	$45,778	1.4%	$6.66	+17.7%	—	76200L309
SLNO	Soleno Therapeutics Inc	467,342	$31,592	0.9%	$50.20	+9.2%	—	834203309
NAMS	NewAmsterdam Pharma Company NV	765,705	$21,777	0.6%	$19.51	+86.5%	—	N62509109
QURE	Uniqure NV	275,200	$16,063	0.5%	$18.16	+112.5%	—	N90064101
AVBP	Arrivent Biopharma Inc	700,000	$12,915	0.4%	$20.76	+0.2%	—	04272N102
RNAC	Cartesian Therapeutics Inc	563,272	$5,757	0.2%	$15.62	-48.3%	—	816212302
ELDN	Eledon Pharmaceuticals Inc	2,072,767	$5,368	0.2%	$3.32	-28.4%	—	28617K101
PRQR	ProQR Therapeutics NV	1,552,183	$3,306	0.1%	$3.18	-26.4%	—	N71542109
BIOA	BIOAGE Labs Inc	382,406	$2,249	0.1%	$19.40	-54.3%	—	09077V100
KDP	Keurig Dr Pepper Inc	77,050	$1,966	0.1%	$30.82	-11.6%	—	49271V100
HUBS	HubSpot Inc	4,000	$1,871	0.1%	$565.03	-26.7%	—	443573100
CMG	Chipotle Mexican Grill Inc	47,500	$1,862	0.1%	$45.03	-19.7%	—	169656105
SPOT	Spotify Technology SA	2,173	$1,517	0.0%	$699.24	-10.6%	—	L8681T102
NIQ	NIQ Global Intelligence PLC	95,000	$1,492	0.0%	$17.40	-15.9%	—	G63755105
SAIL	SailPoint Inc	50,000	$1,104	0.0%	$21.79	-4.3%	—	78781J109
ESTC	Elastic NV	12,500	$1,056	0.0%	$84.19	-3.1%	—	N14506104
SEMR	SEMrush Holdings Inc	125,000	$885	0.0%	$13.58	-31.0%	—	81686C104
AS	Amer Sports Inc	25,000	$869	0.0%	$37.71	-9.0%	—	G0260P102
PINS	Pinterest Inc	25,000	$804	0.0%	$36.26	-20.6%	—	72352L106
CFLT	Confluent Inc	37,500	$743	0.0%	$20.91	+17.4%	—	20717M103
PCOR	Procore Technologies Inc	10,000	$729	0.0%	$61.37	+20.5%	—	74275K108
ALAB	Astera Labs Inc	3,500	$685	0.0%	$164.44	+1.7%	—	04626A103
CHYM	Chime Financial Inc	25,000	$504	0.0%	$28.41	-25.2%	—	16935C109
CCC	CCC Intelligent Solutions Holdings Inc	50,000	$456	0.0%	$8.94	-9.1%	—	12510Q100
KVUE	Kenvue Inc	25,000	$406	0.0%	$20.06	-19.0%	—	49177J102
VRT	Vertiv Holdings Co	2,000	$302	0.0%	$97.15	+78.7%	—	92537N108
IRWD	Ironwood Pharmaceuticals Inc	110,532	$145	0.0%	$5.38	-51.7%	—	46333X108

Decreased Positions (23)

KYMR Kymera Therapeutics Inc 7.6%

Value ($000) $255,748 (+31.8%) Shares 3,286,830 (-4.1%) Est. Cost $43.02 Unrealized +57.0%

COGT Cogent Biosciences Inc 1.7%

Value ($000) $57,872 (+133.7%) Shares 1,629,279 (-5.5%) Est. Cost $8.72 Unrealized +222.2%

TSHA Taysha Gene Therapies Inc 1.7%

Value ($000) $55,715 (+54.7%) Shares 10,129,913 (-8.0%) Est. Cost $2.17 Unrealized +124.1%

KRRO Korro Bio Inc 0.1%

Value ($000) $2,785 (-86.1%) Shares 347,718 (-17.0%) Est. Cost $42.09 Unrealized -44.5%

WVE WAVE Life Sciences Ltd 1.2%

Value ($000) $41,650 (+53.9%) Shares 2,450,000 (-33.7%) Est. Cost $5.98 Unrealized +70.0%

SEPN Septerna Inc 1.7%

Value ($000) $55,760 (+34.6%) Shares 2,000,000 (-9.2%) Est. Cost $23.65 Unrealized +1.0%

RAPP Rapport Therapeutics Inc 0.6%

Value ($000) $21,495 (-31.3%) Shares 708,469 (-32.7%) Est. Cost $19.15 Unrealized +44.5%

DYN Dyne Therapeutics Inc 2.0%

Value ($000) $68,518 (+14.5%) Shares 3,502,941 (-25.9%) Est. Cost $19.51 Unrealized -3.0%

ARWR Arrowhead Pharmaceuticals Inc 3.0%

Value ($000) $99,617 (+8.2%) Shares 1,500,476 (-43.8%) Est. Cost $23.82 Unrealized +105.7%

TRVI Trevi Therapeutics Inc 0.9%

Value ($000) $28,632 (+23.3%) Shares 2,286,867 (-9.9%) Est. Cost $4.03 Unrealized +187.1%

SION Sionna Therapeutics Inc 0.4%

Value ($000) $12,342 (+29.1%) Shares 300,000 (-7.7%) Est. Cost $16.34 Unrealized +132.1%

MSFT Microsoft Corp 0.2%

Value ($000) $7,254 (-18.3%) Shares 15,000 (-12.5%) Est. Cost $424.79 Unrealized +17.8%

CRWD CrowdStrike Holdings Inc 0.2%

Value ($000) $7,735 (-14.7%) Shares 16,500 (-10.8%) Est. Cost $287.95 Unrealized +76.8%

GOOGL Alphabet Inc 0.2%

Value ($000) $6,480 (+25.7%) Shares 20,703 (-2.4%) Est. Cost $178.77 Unrealized +59.8%

UPB Upstream Bio Inc 0.5%

Value ($000) $15,976 (+7.7%) Shares 588,450 (-25.4%) Est. Cost $22.33 Unrealized +11.5%

ADBE Adobe Inc 0.1%

Value ($000) $4,218 (-20.6%) Shares 12,051 (-19.9%) Est. Cost $461.82 Unrealized -26.4%

AMZN Amazon.com Inc 0.4%

Value ($000) $11,887 (-7.5%) Shares 51,500 (-12.0%) Est. Cost $196.43 Unrealized +16.5%

FROG Jfrog Ltd 0.2%

Value ($000) $5,847 (+15.3%) Shares 93,616 (-12.6%) Est. Cost $31.23 Unrealized +82.1%

— Generation Bio Inc 0.0%

Value ($000) $1,144 (-37.0%) Shares 201,419 (-32.2%) Est. Cost $6.12 Unrealized —

PANW Palo Alto Networks Inc 0.1%

Value ($000) $2,109 (-23.0%) Shares 11,450 (-14.9%) Est. Cost $180.75 Unrealized +11.6%

TSM Taiwan Semiconductor Manufacturing Co Ltd 0.3%

Value ($000) $8,418 (+6.9%) Shares 27,700 (-1.8%) Est. Cost $173.74 Unrealized —

CRM Salesforce Inc 0.2%

Value ($000) $6,914 (-3.1%) Shares 26,100 (-13.3%) Est. Cost $283.24 Unrealized -12.4%

CRNX Crinetics Pharmaceuticals Inc 2.1%

Value ($000) $70,180 (-0.2%) Shares 1,507,636 (-10.7%) Est. Cost $51.69 Unrealized -13.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KYMR	Kymera Therapeutics Inc	3,286,830 (-4.1%)	$255,748 (+31.8%)	7.6%	$43.02	+57.0%	COM	501575104
COGT	Cogent Biosciences Inc	1,629,279 (-5.5%)	$57,872 (+133.7%)	1.7%	$8.72	+222.2%	COM	19240Q201
TSHA	Taysha Gene Therapies Inc	10,129,913 (-8.0%)	$55,715 (+54.7%)	1.7%	$2.17	+124.1%	COM SHS	877619106
KRRO	Korro Bio Inc	347,718 (-17.0%)	$2,785 (-86.1%)	0.1%	$42.09	-44.5%	COM	500946108
WVE	WAVE Life Sciences Ltd	2,450,000 (-33.7%)	$41,650 (+53.9%)	1.2%	$5.98	+70.0%	SHS	Y95308105
SEPN	Septerna Inc	2,000,000 (-9.2%)	$55,760 (+34.6%)	1.7%	$23.65	+1.0%	COM	81734D104
RAPP	Rapport Therapeutics Inc	708,469 (-32.7%)	$21,495 (-31.3%)	0.6%	$19.15	+44.5%	COM	75383L102
DYN	Dyne Therapeutics Inc	3,502,941 (-25.9%)	$68,518 (+14.5%)	2.0%	$19.51	-3.0%	COM	26818M108
ARWR	Arrowhead Pharmaceuticals Inc	1,500,476 (-43.8%)	$99,617 (+8.2%)	3.0%	$23.82	+105.7%	COM	04280A100
TRVI	Trevi Therapeutics Inc	2,286,867 (-9.9%)	$28,632 (+23.3%)	0.9%	$4.03	+187.1%	COM	89532M101
SION	Sionna Therapeutics Inc	300,000 (-7.7%)	$12,342 (+29.1%)	0.4%	$16.34	+132.1%	COM	829401108
MSFT	Microsoft Corp	15,000 (-12.5%)	$7,254 (-18.3%)	0.2%	$424.79	+17.8%	COM	594918104
CRWD	CrowdStrike Holdings Inc	16,500 (-10.8%)	$7,735 (-14.7%)	0.2%	$287.95	+76.8%	CL A	22788C105
GOOGL	Alphabet Inc	20,703 (-2.4%)	$6,480 (+25.7%)	0.2%	$178.77	+59.8%	CAP STK CL A	02079K305
UPB	Upstream Bio Inc	588,450 (-25.4%)	$15,976 (+7.7%)	0.5%	$22.33	+11.5%	COM	91678A107
ADBE	Adobe Inc	12,051 (-19.9%)	$4,218 (-20.6%)	0.1%	$461.82	-26.4%	COM	00724F101
AMZN	Amazon.com Inc	51,500 (-12.0%)	$11,887 (-7.5%)	0.4%	$196.43	+16.5%	COM	023135106
FROG	Jfrog Ltd	93,616 (-12.6%)	$5,847 (+15.3%)	0.2%	$31.23	+82.1%	ORD SHS	M6191J100
—	Generation Bio Inc	201,419 (-32.2%)	$1,144 (-37.0%)	0.0%	$6.12	—	COM NEW	37148K209
PANW	Palo Alto Networks Inc	11,450 (-14.9%)	$2,109 (-23.0%)	0.1%	$180.75	+11.6%	COM	697435105
TSM	Taiwan Semiconductor Manufacturing Co Ltd	27,700 (-1.8%)	$8,418 (+6.9%)	0.3%	$173.74	—	SPONSORED ADS	874039100
CRM	Salesforce Inc	26,100 (-13.3%)	$6,914 (-3.1%)	0.2%	$283.24	-12.4%	COM	79466L302
CRNX	Crinetics Pharmaceuticals Inc	1,507,636 (-10.7%)	$70,180 (-0.2%)	2.1%	$51.69	-13.9%	COM	22663K107

Unchanged Positions (34)

STOK Stoke Therapeutics Inc 2.1%

Value ($000) $71,331 Shares 2,247,347 Est. Cost $11.96 Unrealized +151.4%

ERAS Erasca Inc 1.0%

Value ($000) $32,577 Shares 8,757,249 Est. Cost $2.82 Unrealized -0.2%

TBLA Taboola.com Ltd 1.4%

Value ($000) $45,959 Shares 9,969,495 Est. Cost $3.30 Unrealized +14.2%

LXRX Lexicon Pharmaceuticals Inc 1.3%

Value ($000) $44,757 Shares 38,918,903 Est. Cost $1.78 Unrealized -22.9%

APLS Apellis Pharmaceuticals Inc 1.9%

Value ($000) $64,769 Shares 2,578,396 Est. Cost $35.43 Unrealized -33.8%

BCAX Bicara Therapeutics Inc 2.6%

Value ($000) $87,802 Shares 5,216,969 Est. Cost $20.25 Unrealized -15.6%

CGEM Cullinan Therapeutics Inc 0.4%

Value ($000) $12,352 Shares 1,193,410 Est. Cost $17.74 Unrealized -49.1%

RELY Remitly Global Inc 0.7%

Value ($000) $22,332 Shares 1,618,271 Est. Cost $18.06 Unrealized -19.5%

ORIC Oric Pharmaceuticals Inc 0.2%

Value ($000) $8,242 Shares 1,007,575 Est. Cost $9.89 Unrealized +16.4%

XENE Xenon Pharmaceuticals Inc 1.1%

Value ($000) $36,428 Shares 812,761 Est. Cost $39.56 Unrealized +6.2%

ASND Ascendis Pharma A/S 1.5%

Value ($000) $50,295 Shares 235,862 Est. Cost $149.31 Unrealized —

RYTM Rhythm Pharmaceuticals Inc 1.6%

Value ($000) $53,517 Shares 499,975 Est. Cost $63.74 Unrealized +66.4%

IONQ IONQ Inc 0.2%

Value ($000) $7,628 Shares 170,000 Est. Cost $7.62 Unrealized +635.2%

VTVT vTv Therapeutics Inc 0.2%

Value ($000) $6,518 Shares 163,000 Est. Cost $17.30 Unrealized +60.3%

SLN Silence Therapeutics PLC 0.5%

Value ($000) $17,702 Shares 2,911,438 Est. Cost $17.66 Unrealized —

GOSS Gossamer Bio Inc 0.5%

Value ($000) $16,148 Shares 5,208,968 Est. Cost $0.96 Unrealized +196.6%

IHS IHS Holding Limited 0.5%

Value ($000) $17,587 Shares 2,357,520 Est. Cost $3.08 Unrealized +123.9%

BDTX Black Diamond Therapeutics Inc 0.1%

Value ($000) $2,543 Shares 1,046,517 Est. Cost $5.44 Unrealized -34.9%

TIL Instil Bio Inc 0.1%

Value ($000) $2,243 Shares 203,933 Est. Cost $23.39 Unrealized -36.7%

SEER Seer Inc 0.2%

Value ($000) $7,320 Shares 4,000,000 Est. Cost $1.75 Unrealized +16.4%

BCYC Bicycle Therapeutics PLC 0.4%

Value ($000) $14,250 Shares 2,012,752 Est. Cost $13.30 Unrealized —

PEPG PepGen Inc 0.1%

Value ($000) $4,557 Shares 700,000 Est. Cost $1.61 Unrealized +222.0%

WHWK Whitehawk Therapeutics Inc 0.2%

Value ($000) $5,038 Shares 2,082,000 Est. Cost $2.61 Unrealized -12.1%

AGEN Agenus Inc 0.1%

Value ($000) $3,342 Shares 1,064,250 Est. Cost $3.19 Unrealized +24.9%

SGMT Sagimet Biosciences Inc 0.1%

Value ($000) $4,291 Shares 724,771 Est. Cost $3.08 Unrealized +133.1%

BEKE Ke Holdings Inc 0.1%

Value ($000) $2,285 Shares 145,000 Est. Cost $19.71 Unrealized —

PRMB Primo Brands Corp 0.0%

Value ($000) $1,226 Shares 75,000 Est. Cost $28.92 Unrealized -36.1%

FHTX Foghorn Therapeutics Inc 0.1%

Value ($000) $3,892 Shares 720,720 Est. Cost $7.24 Unrealized -37.4%

EDU New Oriental Education & Technology Group Inc 0.1%

Value ($000) $3,412 Shares 62,000 Est. Cost $67.56 Unrealized —

CYCN Cyclerion Therapeutics Inc 0.0%

Value ($000) $147 Shares 115,603 Est. Cost $2.94 Unrealized -39.2%

CRBU Caribou Biosciences Inc 0.0%

Value ($000) $168 Shares 105,347 Est. Cost $2.05 Unrealized +2.5%

QCOM Qualcomm Inc 0.1%

Value ($000) $2,395 Shares 14,000 Est. Cost $171.16 Unrealized -0.2%

TSLA Tesla Inc 0.0%

Value ($000) $675 Shares 1,500 Est. Cost $333.26 Unrealized +33.0%

NVDA NVIDIA Corp 0.2%

Value ($000) $6,991 Shares 37,485 Est. Cost $118.94 Unrealized +56.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
STOK	Stoke Therapeutics Inc	2,247,347	$71,331	2.1%	$11.96	+151.4%	COM	86150R107
ERAS	Erasca Inc	8,757,249	$32,577	1.0%	$2.82	-0.2%	COM	29479A108
TBLA	Taboola.com Ltd	9,969,495	$45,959	1.4%	$3.30	+14.2%	ORD SHS	M8744T106
LXRX	Lexicon Pharmaceuticals Inc	38,918,903	$44,757	1.3%	$1.78	-22.9%	COM NEW	528872302
APLS	Apellis Pharmaceuticals Inc	2,578,396	$64,769	1.9%	$35.43	-33.8%	COM	03753U106
BCAX	Bicara Therapeutics Inc	5,216,969	$87,802	2.6%	$20.25	-15.6%	COM	055477103
CGEM	Cullinan Therapeutics Inc	1,193,410	$12,352	0.4%	$17.74	-49.1%	COM	230031106
RELY	Remitly Global Inc	1,618,271	$22,332	0.7%	$18.06	-19.5%	COM	75960P104
ORIC	Oric Pharmaceuticals Inc	1,007,575	$8,242	0.2%	$9.89	+16.4%	COM	68622P109
XENE	Xenon Pharmaceuticals Inc	812,761	$36,428	1.1%	$39.56	+6.2%	COM	98420N105
ASND	Ascendis Pharma A/S	235,862	$50,295	1.5%	$149.31	—	SPONSORED ADR	04351P101
RYTM	Rhythm Pharmaceuticals Inc	499,975	$53,517	1.6%	$63.74	+66.4%	COM	76243J105
IONQ	IONQ Inc	170,000	$7,628	0.2%	$7.62	+635.2%	COM	46222L108
VTVT	vTv Therapeutics Inc	163,000	$6,518	0.2%	$17.30	+60.3%	CL A NEW	918385204
SLN	Silence Therapeutics PLC	2,911,438	$17,702	0.5%	$17.66	—	ADS	82686Q101
GOSS	Gossamer Bio Inc	5,208,968	$16,148	0.5%	$0.96	+196.6%	COM	38341P102
IHS	IHS Holding Limited	2,357,520	$17,587	0.5%	$3.08	+123.9%	ORD SHS	G4701H109
BDTX	Black Diamond Therapeutics Inc	1,046,517	$2,543	0.1%	$5.44	-34.9%	COM	09203E105
TIL	Instil Bio Inc	203,933	$2,243	0.1%	$23.39	-36.7%	COM NEW	45783C200
SEER	Seer Inc	4,000,000	$7,320	0.2%	$1.75	+16.4%	COM CL A	81578P106
BCYC	Bicycle Therapeutics PLC	2,012,752	$14,250	0.4%	$13.30	—	SPONSORED ADS	088786108
PEPG	PepGen Inc	700,000	$4,557	0.1%	$1.61	+222.0%	COM	713317105
WHWK	Whitehawk Therapeutics Inc	2,082,000	$5,038	0.2%	$2.61	-12.1%	COM	00032Q104
AGEN	Agenus Inc	1,064,250	$3,342	0.1%	$3.19	+24.9%	COM NEW	00847G804
SGMT	Sagimet Biosciences Inc	724,771	$4,291	0.1%	$3.08	+133.1%	COM SER A	786700104
BEKE	Ke Holdings Inc	145,000	$2,285	0.1%	$19.71	—	SPONSORED ADS	482497104
PRMB	Primo Brands Corp	75,000	$1,226	0.0%	$28.92	-36.1%	CLASS A COM SHS	741623102
FHTX	Foghorn Therapeutics Inc	720,720	$3,892	0.1%	$7.24	-37.4%	COM	344174107
EDU	New Oriental Education & Technology Group Inc	62,000	$3,412	0.1%	$67.56	—	SPON ADR	647581206
CYCN	Cyclerion Therapeutics Inc	115,603	$147	0.0%	$2.94	-39.2%	COM	23255M204
CRBU	Caribou Biosciences Inc	105,347	$168	0.0%	$2.05	+2.5%	COM	142038108
QCOM	Qualcomm Inc	14,000	$2,395	0.1%	$171.16	-0.2%	COM	747525103
TSLA	Tesla Inc	1,500	$675	0.0%	$333.26	+33.0%	COM	88160R101
NVDA	NVIDIA Corp	37,485	$6,991	0.2%	$118.94	+56.5%	COM	67066G104