| SVA | SINOVAC BIOTECH LTD | 8.26% | 2,718,735 | $333,996,595 | | No Change | $122.85 | 13F |
| BSX | BOSTON SCIENTIFIC CORP | 7.47% | 2,813,200 | $302,165,812 | | No Change | $107.41 | 13F |
| LLY | ELI LILLY & CO | 6.51% | 337,600 | $263,169,328 | | No Change | $779.53 | 13F |
| EWTX | EDGEWISE THERAPEUTICS INC | 5.03% | 15,518,492 | $203,447,430 | 496,771 | 3.31% | $13.11 | 13F |
| ELVN | ENLIVEN THERAPEUTICS INC | 3.95% | 7,959,538 | $159,668,332 | | No Change | $20.06 | 13F |
| ISRG | INTUITIVE SURGICAL INC | 3.91% | 291,000 | $158,132,310 | | No Change | $543.41 | 13F |
| SPRY | ARS PHARMACEUTICALS INC | 3.58% | 8,288,510 | $144,634,500 | | No Change | $17.45 | 13F |
| SYK | STRYKER CORPORATION | 3.51% | 359,200 | $142,110,296 | | No Change | $395.63 | 13F |
| EW | EDWARDS LIFESCIENCES CORP | 3.30% | 1,708,000 | $133,582,680 | 176,000 | 11.49% | $78.21 | 13F |
| ARGX | ARGENX SE | 2.83% | 208,000 | $114,653,760 | 1,300 | 0.63% | $551.22 | 13F |
| ALNY | ALNYLAM PHARMACEUTICALS INC | 2.76% | 341,900 | $111,490,171 | -4,200 | -1.21% | $326.09 | 13F |
| UNH | UNITEDHEALTH GROUP INC | 2.59% | 336,300 | $104,915,511 | 135,100 | 67.15% | $311.97 | 13F |
| NTRA | NATERA INC | 2.48% | 593,434 | $100,254,740 | 46,434 | 8.49% | $168.94 | 13F |
| VRTX | VERTEX PHARMACEUTICALS INC | 2.31% | 210,287 | $93,619,772 | 50,387 | 31.51% | $445.2 | 13F |
| THC | TENET HEALTHCARE CORP | 2.02% | 465,000 | $81,840,000 | | No Change | $176 | 13F |
| CAI | CARIS LIFE SCIENCES INC | 2.01% | 3,034,858 | $81,091,406 | 3,034,858 | New | $26.72 | 13F |
| IRON | DISC MEDICINE INC | 1.85% | 1,415,020 | $74,939,459 | | No Change | $52.96 | 13F |
| MBX | MBX Biosciences, Inc. | 1.74% | 4,002,887 | $70,090,551 | | No Change | | 13D |
| SION | SIONNA THERAPEUTICS INC | 1.59% | 3,704,959 | $64,281,039 | | No Change | $17.35 | 13F |
| UPB | UPSTREAM BIO INC | 1.55% | 5,693,589 | $62,515,607 | | No Change | $10.98 | 13F |
| NBIX | NEUROCRINE BIOSCIENCES INC | 1.36% | 438,540 | $55,120,093 | -496,100 | -53.08% | $125.69 | 13F |
| ITGR | INTEGER HLDGS CORP | 1.32% | 433,400 | $53,295,198 | -229,100 | -34.58% | $122.97 | 13F |
| AVBP | ArriVent BioPharma, Inc. | 1.31% | 3,027,328 | $52,645,234 | | No Change | | 13D |
| RNA | AVIDITY BIOSCIENCES INC | 1.27% | 1,812,886 | $51,485,962 | | No Change | $28.4 | 13F |
| CGON | CG ONCOLOGY INC | 1.21% | 1,877,850 | $48,824,100 | -594,144 | -24.04% | $26 | 13F |
| SIBN | SI-BONE INC | 1.20% | 2,578,979 | $48,536,385 | -863,874 | -25.09% | $18.82 | 13F |
| CMPX | Compass Therapeutics, Inc. | 1.17% | 15,219,994 | $47,181,981 | | No Change | | 13D |
| AXSM | AXSOME THERAPEUTICS INC | 1.10% | 427,900 | $44,668,481 | 41,200 | 10.65% | $104.39 | 13F |
| CYTK | CYTOKINETICS INC | 0.88% | 1,077,000 | $35,584,080 | -432,205 | -28.64% | $33.04 | 13F |
| CRNX | CRINETICS PHARMACEUTICALS IN | 0.82% | 1,149,000 | $33,045,240 | 150,000 | 15.02% | $28.76 | 13F |
| EXAS | EXACT SCIENCES CORP | 0.80% | 607,316 | $32,272,772 | -72,500 | -10.66% | $53.14 | 13F |
| THRD | THIRD HARMONIC BIO INC | 0.78% | 5,779,071 | $31,380,356 | | No Change | $5.43 | 13F |
| ROIV | ROIVANT SCIENCES LTD | 0.77% | 2,779,427 | $31,324,142 | 2,779,427 | New | $11.27 | 13F |
| XENE | XENON PHARMACEUTICALS INC | 0.73% | 947,877 | $29,668,550 | | No Change | $31.3 | 13F |
| NPCE | NEUROPACE INC | 0.72% | 2,614,184 | $29,122,010 | -792,151 | -23.26% | $11.14 | 13F |
| CRVS | CORVUS PHARMACEUTICALS INC | 0.71% | 7,165,006 | $28,660,024 | 221,352 | 3.19% | $4 | 13F |
| TERN | TERNS PHARMACEUTICALS INC | 0.70% | 7,562,971 | $28,209,882 | | No Change | $3.73 | 13F |
| JANX | JANUX THERAPEUTICS INC | 0.69% | 1,210,300 | $27,957,930 | 451,734 | 59.55% | $23.1 | 13F |
| APLS | APELLIS PHARMACEUTICALS INC | 0.63% | 1,482,300 | $25,658,613 | 50,000 | 3.49% | $17.31 | 13F |
| GPCR | STRUCTURE THERAPEUTICS INC | 0.62% | 1,199,300 | $24,873,482 | 547,272 | 83.93% | $20.74 | 13F |
| SCPH | SCPHARMACEUTICALS INC | 0.57% | 6,059,528 | $23,086,802 | | No Change | $3.81 | 13F |
| CTMX | CYTOMX THERAPEUTICS INC | 0.47% | 8,461,500 | $19,207,605 | 8,461,500 | New | $2.27 | 13F |
| TMO | THERMO FISHER SCIENTIFIC INC | 0.47% | 46,500 | $18,853,890 | -82,500 | -63.95% | $405.46 | 13F |
| AGIO | AGIOS PHARMACEUTICALS INC | 0.46% | 557,900 | $18,555,754 | 232,400 | 71.4% | $33.26 | 13F |
| TRVI | TREVI THERAPEUTICS INC | 0.45% | 3,308,400 | $18,096,948 | 2,188,400 | 195.39% | $5.47 | 13F |
| RYTM | RHYTHM PHARMACEUTICALS INC | 0.39% | 248,512 | $15,703,473 | -131,488 | -34.6% | $63.19 | 13F |
| UNH | UNITEDHEALTH GROUP INC (Call) | 0.39% | 50,000 | $15,598,500 | 50,000 | New | $311.97 | 13F |
| ADCT | ADC THERAPEUTICS SA | 0.39% | 5,907,351 | $15,831,701 | -61,100 | -1.02% | $2.68 | 13F |
| FBRX | FORTE BIOSCIENCES INC | 0.38% | 1,196,955 | $15,476,628 | 603,867 | 101.82% | $12.93 | 13F |
| CGEM | CULLINAN THERAPEUTICS INC | 0.36% | 1,923,855 | $14,486,628 | | No Change | $7.53 | 13F |
| KROS | KEROS THERAPEUTICS INC | 0.34% | 1,018,734 | $13,600,099 | | No Change | $13.35 | 13F |
| IKNA | ImageneBio, Inc. | 0.33% | 773,754 | $13,277,619 | -2,765,604 | -78.14% | | 13D |
| IKNA | IKENA ONCOLOGY INC | 0.32% | 12,048,773 | $13,131,450 | | No Change | $1.09 | 13F |
| FOLD | AMICUS THERAPEUTICS INC | 0.32% | 2,285,400 | $13,095,342 | | No Change | $5.73 | 13F |
| RAPT | RAPT THERAPEUTICS INC | 0.32% | 1,641,906 | $13,135,248 | 1,641,906 | New | $8 | 13F |
| VIR | VIR BIOTECHNOLOGY INC | 0.30% | 2,380,715 | $11,998,804 | 132,466 | 5.89% | $5.04 | 13F |
| ABCL | ABCELLERA BIOLOGICS INC | 0.28% | 3,344,568 | $11,471,868 | -836,200 | -20% | $3.43 | 13F |
| AKRO | AKERO THERAPEUTICS INC | 0.28% | 211,300 | $11,274,968 | 31,400 | 17.45% | $53.36 | 13F |
| PMVP | PMV Pharmaceuticals, Inc. | 0.27% | 5,975,291 | $10,755,524 | -500,000 | -7.72% | | Form 4 |
| MLYS | MINERALYS THERAPEUTICS INC | 0.25% | 760,351 | $10,287,549 | 760,351 | New | $13.53 | 13F |
| CCCC | C4 THERAPEUTICS INC | 0.24% | 6,830,300 | $9,767,329 | | No Change | $1.43 | 13F |
| DYN | DYNE THERAPEUTICS INC | 0.24% | 1,031,400 | $9,818,928 | 16,789 | 1.65% | $9.52 | 13F |
| ORIC | ORIC PHARMACEUTICALS INC | 0.23% | 899,281 | $9,127,702 | 199,281 | 28.47% | $10.15 | 13F |
| CPRX | CATALYST PHARMACEUTICALS INC | 0.22% | 416,900 | $9,046,730 | 416,900 | New | $21.7 | 13F |
| PRLD | PRELUDE THERAPEUTICS INC | 0.22% | 10,909,256 | $8,829,952 | | No Change | $0.81 | 13F |
| CRBP | CORBUS PHARMACEUTICALS HLDGS | 0.20% | 1,172,287 | $8,088,780 | | No Change | $6.9 | 13F |
| TARS | TARSUS PHARMACEUTICALS INC | 0.20% | 197,900 | $8,016,929 | -455,843 | -69.73% | $40.51 | 13F |
| ZLAB | ZAI LAB LTD | 0.20% | 231,000 | $8,078,070 | 231,000 | New | $34.97 | 13F |
| WHWK | WHITEHAWK THERAPEUTICS INC | 0.19% | 4,166,000 | $7,790,420 | | No Change | $1.87 | 13F |
| TYRA | TYRA BIOSCIENCES INC | 0.19% | 804,603 | $7,700,051 | -948,228 | -54.1% | $9.57 | 13F |
| ACET | ADICET BIO INC | 0.17% | 11,447,140 | $6,982,755 | | No Change | $0.61 | 13F |
| AZN | ASTRAZENECA PLC (Call) | 0.17% | 100,000 | $6,988,000 | 100,000 | New | $69.88 | 13F |
| ITOS | ITEOS THERAPEUTICS INC | 0.17% | 700,000 | $6,979,000 | 700,000 | New | $9.97 | 13F |
| URGN | UROGEN PHARMA LTD | 0.16% | 478,400 | $6,554,080 | 478,400 | New | $13.7 | 13F |
| ASND | ASCENDIS PHARMA A/S | 0.15% | 34,400 | $5,937,440 | 34,400 | New | $172.6 | 13F |
| ALMS | ALUMIS INC | 0.14% | 1,926,423 | $5,779,269 | 1,926,423 | New | $3 | 13F |
| JBIO | JADE BIOSCIENCES INC | 0.13% | 531,163 | $5,306,318 | 531,163 | New | $9.99 | 13F |
| AVTX | AVALO THERAPEUTICS INC | 0.12% | 967,000 | $4,825,330 | | No Change | $4.99 | 13F |
| NSPR | INSPIREMD INC | 0.12% | 2,133,405 | $4,842,829 | | No Change | $2.27 | 13F |
| RPTX | REPARE THERAPEUTICS INC | 0.11% | 3,322,488 | $4,618,258 | | No Change | $1.39 | 13F |
| STTK | Shattuck Labs, Inc. | 0.11% | 5,255,106 | $4,571,942 | 5,255,106 | New | | Form 4 |
| CGON | CG ONCOLOGY INC (Call) | 0.10% | 150,000 | $3,900,000 | 150,000 | New | $26 | 13F |
| IMTX | IMMATICS N.V | 0.10% | 719,901 | $3,873,067 | -2,367,561 | -76.68% | $5.38 | 13F |
| BIOA | BIOAGE LABS INC | 0.09% | 921,959 | $3,807,691 | | No Change | $4.13 | 13F |
| QTTB | Q32 BIO INC | 0.08% | 2,252,987 | $3,356,951 | | No Change | $1.49 | 13F |
| ENGN | ENGENE HOLDINGS INC | 0.06% | 677,977 | $2,467,836 | -213,639 | -23.96% | $3.64 | 13F |
| AMLX | AMYLYX PHARMACEUTICALS INC | 0.05% | 313,200 | $2,007,612 | -34,800 | -10% | $6.41 | 13F |
| MURA | MURAL ONCOLOGY PUB LTD CO | 0.04% | 588,800 | $1,454,336 | 588,800 | New | $2.47 | 13F |
| CMMB | CHEMOMAB THERAPEUTICS LTD | 0.03% | 940,990 | $1,091,548 | -800,283 | -45.96% | $1.16 | 13F |
| INSM | INSMED INC | 0.03% | 13,459 | $1,354,514 | -15,200 | -53.04% | $100.64 | 13F |
| KRYS | KRYSTAL BIOTECH INC | 0.03% | 9,200 | $1,264,632 | -14,300 | -60.85% | $137.46 | 13F |
| TSBX | TURNSTONE BIOLOGICS CORP | 0.03% | 3,099,265 | $1,112,636 | | No Change | $0.36 | 13F |
| APLS | APELLIS PHARMACEUTICALS INC (Call) | 0.02% | 50,000 | $865,500 | 50,000 | New | $17.31 | 13F |
| KZR | KEZAR LIFE SCIENCES INC | 0.02% | 192,700 | $882,566 | | No Change | $4.58 | 13F |
| TRAW | TRAWS PHARMA INC | 0.02% | 605,531 | $896,186 | | No Change | $1.48 | 13F |
| PASG | Passage BIO, Inc. | 0.02% | 132,473 | $751,122 | -5,922,827 | -97.81% | | 13D |
| ANRO | ALTO NEUROSCIENCE INC | 0.01% | 250,000 | $550,000 | | No Change | $2.2 | 13F |
| DHAI | DIH HLDG US INC | 0.01% | 1,915,000 | $468,984 | | No Change | $0.24 | 13F |
| KRRO | KORRO BIO INC | 0.01% | 32,400 | $404,676 | | No Change | $12.49 | 13F |
| LYEL | LYELL IMMUNOPHARMA INC | 0.01% | 51,727 | $457,267 | 51,727 | New | $8.84 | 13F |
| XERS | XERIS BIOPHARMA HOLDINGS INC | 0.00929% | 80,420 | $375,561 | | No Change | $4.67 | 13F |
| INMB | INMUNE BIO INC (Put) | 0.00286% | 50,000 | $115,500 | 50,000 | New | $2.31 | 13F |
| LSB | LAKESHORE BIOPHARMA CO LTD | 0.00138% | 54,799 | $55,895 | -85,629 | -60.98% | $1.02 | 13F |
| SLRN | ACELYRIN INC | | | | -4,001,711 | Exited | | 13F |
| IVVD | INVIVYD INC | | | | -933,500 | Exited | | 13F |
| AMGN | AMGEN INC | | | | -44,200 | Exited | | 13F |
| BCAX | BICARA THERAPEUTICS INC | | | | -298,301 | Exited | | 13F |
| PHGE | BIOMX INC | | | | -1,787,767 | Exited | | 13F |
| CRDF | CARDIFF ONCOLOGY INC | | | | -573,884 | Exited | | 13F |
| CBLL | CERIBELL INC | | | | -112,500 | Exited | | 13F |
| FATE | FATE THERAPEUTICS INC | | | | -1,680,580 | Exited | | 13F |
| GILD | GILEAD SCIENCES INC | | | | -197,500 | Exited | | 13F |
| TIL | INSTIL BIO INC | | | | -116,785 | Exited | | 13F |
| IONS | IONIS PHARMACEUTICALS INC | | | | -2,540,136 | Exited | | 13F |
| NKTX | NKARTA INC | | | | -821,400 | Exited | | 13F |
| PFE | PFIZER INC | | | | -3,850,200 | Exited | | 13F |
| PFE | PFIZER INC (Call) | | | | -500,000 | Exited | | 13F |
| RAPT | RAPT THERAPEUTICS INC | | | | -13,135,260 | Exited | | 13F |
| XBI | SPDR SER TR (Call) | | | | -100,000 | Exited | | 13F |
| SRRK | SCHOLAR ROCK HLDG CORP | | | | -151,800 | Exited | | 13F |
| SWTX | SPRINGWORKS THERAPEUTICS INC | | | | -950,200 | Exited | | 13F |
| SWTX | SPRINGWORKS THERAPEUTICS INC (Call) | | | | -172,600 | Exited | | 13F |
| GPCR | STRUCTURE THERAPEUTICS INC (Call) | | | | -150,000 | Exited | | 13F |
| NXTC | NEXTCURE INC | | | | -1,141,200 | Exited | | 13F |
| TNGX | TANGO THERAPEUTICS INC | | | | -550,000 | Exited | | 13F |
| VSTM | VERASTEM INC | | | | -2,862,448 | Exited | | 13F |
| VERA | VERA THERAPEUTICS INC | | | | -481,065 | Exited | | 13F |
| XTNT | XTANT MED HLDGS INC | | | | -73,114,592 | Exited | | 13F |
| XFOR | X4 PHARMACEUTICALS INC | | | | -6,776,515 | Exited | | 13F |
| KMTS | KESTRA MED TECHNOLOGIES LTD | | | | -250,000 | Exited | | 13F |
