| ONC | BeOne Medicines Ltd. | 70.16% | 115,912,814 | $41,013,430,978 | 107,111,247 | 1216.96% | | 13D |
| INCY | Incyte Corporation | 6.06% | 30,762,330 | $3,487,217,729 | 17,918 | 0.06% | $113.36 | 13F |
| RVMD | Revolution Medicines, Inc. | 3.73% | 11,443,357 | $2,143,111,899 | 1,888,000 | 19.76% | $187.28 | 13F |
| MDGL | Madrigal Pharmaceuticals, Inc. | 2.00% | 2,143,131 | $1,150,754,190 | 1,430 | 0.07% | $536.95 | 13F |
| ACAD | ACADIA Pharmaceuticals Inc. | 1.89% | 42,912,904 | $1,085,696,471 | 16,214 | 0.04% | $25.3 | 13F |
| KYMR | Kymera Therapeutics, Inc. | 1.73% | 8,657,242 | $992,725,940 | | No Change | $114.67 | 13F |
| INSM | Insmed Incorporated | 1.63% | 8,796,111 | $937,841,355 | 1,375,000 | 18.53% | $106.62 | 13F |
| KOD | Kodiak Sciences Inc. | 1.35% | 19,919,186 | $776,051,487 | | No Change | $38.96 | 13F |
| RYTM | Rhythm Pharmaceuticals, Inc. | 1.08% | 5,604,483 | $622,265,747 | | No Change | $111.03 | 13F |
| PRAX | Praxis Precision Medicines, Inc. | 1.02% | 1,753,198 | $586,953,158 | | No Change | $334.79 | 13F |
| ALKS | Alkermes plc | 0.91% | 10,012,267 | $524,592,729 | | No Change | $52.39 | 13F |
| SMMT | Summit Therapeutics Inc. | 0.83% | 32,786,348 | $477,697,090 | -3,604,715 | -9.91% | $14.57 | 13F |
| CELC | Celcuity Inc. | 0.78% | 4,372,852 | $448,217,330 | -3,542,940 | -44.76% | | Form 4 |
| GRAL | GRAIL, Inc. | 0.48% | 4,028,614 | $275,033,478 | | No Change | $68.27 | 13F |
| ABCL | AbCellera Biologics Inc. | 0.45% | 33,012,138 | $259,145,283 | 2,736,200 | 9.04% | $7.85 | 13F |
| IMVT | Immunovant, Inc. | 0.36% | 5,435,220 | $209,419,027 | -22,661 | -0.42% | $38.53 | 13F |
| IDYA | IDEAYA Biosciences, Inc. | 0.32% | 5,010,030 | $186,723,818 | 1,063,515 | 26.95% | $37.27 | 13F |
| KNSA | Kiniksa Pharmaceuticals International, plc | 0.32% | 2,834,643 | $181,275,420 | 8,397 | 0.3% | $63.95 | 13F |
| ROIV | Roivant Sciences Ltd. | 0.29% | 4,716,831 | $166,928,649 | -150,892 | -3.1% | $35.39 | 13F |
| ARWR | Arrowhead Pharmaceuticals, Inc. | 0.28% | 1,992,783 | $162,431,742 | | No Change | $81.51 | 13F |
| IONS | Ionis Pharmaceuticals, Inc. | 0.28% | 2,047,727 | $162,364,274 | | No Change | $79.29 | 13F |
| EWTX | Edgewise Therapeutics, Inc. | 0.26% | 3,701,719 | $150,400,843 | -2,874,221 | -43.71% | $40.63 | 13F |
| REPL | Replimune Group, Inc. | 0.23% | 11,075,336 | $133,568,552 | 30,000 | 0.27% | | 13D |
| NRIX | Nurix Therapeutics, Inc. | 0.20% | 4,658,556 | $113,016,569 | | No Change | $24.26 | 13F |
| STOK | Stoke Therapeutics, Inc. | 0.19% | 3,336,697 | $109,176,726 | | No Change | $32.72 | 13F |
| GLUE | Monte Rosa Therapeutics, Inc. | 0.18% | 4,345,736 | $105,166,811 | | No Change | $24.2 | 13F |
| DNLI | Denali Therapeutics Inc. | 0.17% | 3,734,336 | $96,047,122 | 2,641 | 0.07% | $25.72 | 13F |
| IMTX | Immatics N.V. | 0.17% | 9,508,565 | $96,321,763 | -1,408,128 | -12.9% | $10.13 | 13F |
| CRNX | Crinetics Pharmaceuticals, Inc. | 0.15% | 2,351,465 | $87,991,820 | | No Change | $37.42 | 13F |
| DNTH | Dianthus Therapeutics, Inc. | 0.14% | 852,164 | $83,068,947 | | No Change | $97.48 | 13F |
| GPCR | Structure Therapeutics Inc. | 0.13% | 1,432,529 | $76,883,831 | | No Change | $53.67 | 13F |
| CELC | Celcuity Inc. (PRN) | 0.12% | 30,750,000 | $69,158,687 | 30,750,000 | New | $2.25 | 13F |
| RAPP | Rapport Therapeutics, Inc. | 0.11% | 1,547,090 | $64,467,240 | | No Change | $41.67 | 13F |
| ALMS | Alumis Inc. | 0.10% | 2,012,500 | $56,631,750 | | No Change | $28.14 | 13F |
| MIRM | Mirum Pharmaceuticals, Inc. | 0.09% | 445,975 | $52,210,293 | | No Change | $117.07 | 13F |
| PRLD | Prelude Therapeutics Inc. | 0.09% | 10,123,824 | $53,959,982 | | No Change | $5.33 | 13F |
| RLAY | Relay Therapeutics, Inc. | 0.09% | 2,826,783 | $52,889,110 | 1,666,666 | 143.66% | $18.71 | 13F |
| BCYC | Bicycle Therapeutics plc | 0.08% | 10,885,357 | $46,153,914 | | No Change | $4.24 | 13F |
| CLDX | Celldex Therapeutics, Inc. | 0.08% | 1,182,611 | $44,004,955 | 517,241 | 77.74% | $37.21 | 13F |
| ELVN | Enliven Therapeutics, Inc. | 0.08% | 905,191 | $45,938,443 | | No Change | $50.75 | 13F |
| VRDN | Viridian Therapeutics, Inc. | 0.08% | 2,383,025 | $43,776,169 | 411,347 | 20.86% | $18.37 | 13F |
| DSGN | Design Therapeutics, Inc. | 0.07% | 2,678,430 | $38,756,882 | 92,452 | 3.58% | $14.47 | 13F |
| AKTS | Aktis Oncology, Inc. | 0.06% | 996,351 | $32,112,393 | | No Change | $32.23 | 13F |
| TRDA | Entrada Therapeutics, Inc. | 0.06% | 5,072,730 | $37,335,293 | | No Change | $7.36 | 13F |
| FTH | Faeth Therapeutics, Inc. | 0.06% | 1,286,411 | $32,160,275 | 1,286,411 | New | $25 | 13F |
| JBIO | Jade Biosciences, Inc. | 0.05% | 1,230,426 | $27,340,066 | -410,711 | -25.03% | $22.22 | 13F |
| RCUS | Arcus Biosciences, Inc. | 0.05% | 844,816 | $26,045,677 | 429,195 | 103.27% | $30.83 | 13F |
| NGNE | Neurogene Inc. | 0.05% | 991,691 | $31,188,682 | | No Change | $31.45 | 13F |
| TSHA | Taysha Gene Therapies, Inc. | 0.05% | 4,004,756 | $27,272,388 | | No Change | $6.81 | 13F |
| IRON | Disc Medicine, Inc. | 0.04% | 349,657 | $25,573,913 | | No Change | $73.14 | 13F |
| GENB | Generate Biomedicines, Inc. | 0.04% | 1,423,602 | $24,016,166 | | No Change | $16.87 | 13F |
| TECX | Tectonic Therapeutic, Inc. | 0.04% | 607,788 | $20,892,713 | | No Change | $34.38 | 13F |
| ABSI | Absci Corporation | 0.04% | 2,134,803 | $24,742,367 | | No Change | $11.59 | 13F |
| DBVT | DBV Technologies S.A. | 0.04% | 1,461,425 | $23,967,370 | | No Change | $16.4 | 13F |
| XENE | Xenon Pharmaceuticals Inc. | 0.04% | 370,208 | $22,345,755 | | No Change | $60.36 | 13F |
| CERS | Cerus Corporation | 0.03% | 6,395,431 | $18,674,659 | -3,612,914 | -36.1% | $2.92 | 13F |
| CYTK | Cytokinetics, Incorporated | 0.03% | 211,267 | $17,997,836 | 211,267 | New | $85.19 | 13F |
| CTMX | CytomX Therapeutics, Inc. | 0.03% | 4,975,826 | $18,659,348 | | No Change | $3.75 | 13F |
| DYN | Dyne Therapeutics, Inc. | 0.03% | 813,449 | $18,066,702 | | No Change | $22.21 | 13F |
| NTLA | Intellia Therapeutics, Inc. | 0.03% | 930,232 | $15,739,525 | 930,232 | New | $16.92 | 13F |
| SION | Sionna Therapeutics, Inc. | 0.03% | 400,000 | $17,596,000 | | No Change | $43.99 | 13F |
| XNCR | Xencor, Inc. | 0.03% | 1,102,106 | $17,743,907 | | No Change | $16.1 | 13F |
| AVTX | Avalo Therapeutics, Inc. | 0.02% | 550,000 | $10,164,000 | 550,000 | New | $18.48 | 13F |
| AVLN | Avalyn Pharma Inc. | 0.02% | 350,000 | $11,522,000 | 350,000 | New | $32.92 | 13F |
| BNTX | BioNTech SE | 0.02% | 119,743 | $11,142,086 | | No Change | $93.05 | 13F |
| EVMN | Evommune, Inc. | 0.02% | 847,390 | $11,261,813 | | No Change | $13.29 | 13F |
| MPLT | MapLight Therapeutics, Inc. | 0.02% | 364,705 | $13,071,027 | | No Change | $35.84 | 13F |
| PBLS | Parabilis Medicines, Inc. | 0.02% | 500,000 | $13,685,000 | 500,000 | New | $27.37 | 13F |
| SERA | Sera Prognostics, Inc. | 0.02% | 5,498,170 | $10,006,669 | | No Change | $1.82 | 13F |
| TNGX | Tango Therapeutics, Inc. | 0.02% | 333,333 | $10,419,990 | 333,333 | New | $31.26 | 13F |
| VSTM | Verastem, Inc. | 0.02% | 2,499,338 | $9,547,471 | 1,914,581 | 327.41% | $3.82 | 13F |
| EIKN | Eikon Therapeutics, Inc. | 0.01% | 555,555 | $7,249,993 | | No Change | $13.05 | 13F |
| LBRX | LB Pharmaceuticals Inc. | 0.01% | 200,000 | $6,491,000 | | No Change | $32.46 | 13F |
| SGMT | Sagimet Biosciences Inc. | 0.01% | 952,996 | $7,366,659 | | No Change | $7.73 | 13F |
| VTVT | vTv Therapeutics, Inc. | 0.00971% | 148,314 | $5,584,022 | | No Change | $37.65 | 13F |
| WVE | Wave Life Sciences Ltd. | 0.00831% | 822,638 | $4,779,527 | | No Change | $5.81 | 13F |
| TARA | Protara Therapeutics, Inc. | 0.00645% | 971,614 | $3,711,565 | | No Change | $3.82 | 13F |
| TCRX | TScan Therapeutics, Inc. | 0.00475% | 2,784,792 | $2,729,375 | | No Change | $0.98 | 13F |
| IMNM | Immunome, Inc. | 0.00204% | 55,306 | $1,171,934 | 55,306 | New | $21.19 | 13F |
| SKYE | Skye Bioscience, Inc. | 0.00190% | 1,575,243 | $1,092,116 | | No Change | $0.69 | 13F |
| SANA | Sana Biotechnology, Inc. | 0.00188% | 310,483 | $1,083,586 | | No Change | $3.49 | 13F |
| ALGS | Aligos Therapeutics, Inc. | 0.00083% | 83,055 | $479,227 | | No Change | $5.77 | 13F |
| TYRA | Tyra Biosciences, Inc. | 0.00059% | 10,607 | $338,788 | | No Change | $31.94 | 13F |
| SRZNW | Surrozen, Inc. Warrants @ $172.50 8/11/2026 (15 FOR 1) | 0.00002% | 833,333 | $13,750 | | No Change | $0.02 | 13F |
| ABVX | Abivax S.A. | | | | -875,796 | Exited | | 13F |
| SYRE | Spyre Therapeutics, Inc. | | | | -1,000,000 | Exited | | 13F |
| ARGX | argenx SE | | | | -25,174 | Exited | | 13F |
| CELC | Celcuity Inc. | | | | -30,750,000 | Exited | | 13F |
| CNTA | Centessa Pharmaceuticals plc | | | | -670,751 | Exited | | 13F |
| CMPS | COMPASS Pathways plc | | | | -2,344,720 | Exited | | 13F |
| CTNM | Contineum Therapeutics, Inc. | | | | -1,420,838 | Exited | | 13F |
| IMCR | Immunocore Holdings plc | | | | -734,397 | Exited | | 13F |
| PHVS | Pharvaris N.V. | | | | -375,000 | Exited | | 13F |
