| ASND | ASCENDIS PHARMA A/S - ADR | 25.10% | 10,281,496 | $2,044,064,220 | | No Change | $198.81 | 13F |
| RYTM | RHYTHM PHARMACEUTICALS INC | 7.05% | 5,681,359 | $573,760,445 | 120,000 | 2.16% | $100.99 | 13F |
| PCVX | VAXCYTE INC | 5.29% | 11,965,991 | $431,014,996 | | No Change | $36.02 | 13F |
| RNA | AVIDITY BIOSCIENCES INC | 4.62% | 8,641,031 | $376,489,721 | 1,375,000 | 18.92% | $43.57 | 13F |
| CDTX | CIDARA THERAPEUTICS, INC. | 4.39% | 3,372,923 | $357,496,109 | 7,400 | 0.22% | | 13D |
| NAMS | NEWAMSTERDAM PHARMA CO NV | 3.54% | 10,138,938 | $288,351,397 | | No Change | $28.44 | 13F |
| MLYS | MINERALYS THERAPEUTICS INC | 3.41% | 7,323,750 | $277,716,600 | 1,176,470 | 19.14% | $37.92 | 13F |
| SION | Sionna Therapeutics, Inc. | 3.38% | 6,897,623 | $272,456,109 | -3,547,699 | -33.96% | | Form 4 |
| JANX | JANUX THERAPEUTICS INC | 3.36% | 11,189,693 | $273,476,097 | | No Change | $24.44 | 13F |
| ACLX | ARCELLX INC | 3.06% | 3,036,527 | $249,298,867 | | No Change | $82.1 | 13F |
| TYRA | TYRA BIOSCIENCES INC | 2.10% | 12,198,625 | $170,658,764 | | No Change | $13.99 | 13F |
| EWTX | EDGEWISE THERAPEUTICS INC | 2.08% | 10,428,437 | $169,149,248 | 525,804 | 5.31% | $16.22 | 13F |
| SEPN | SEPTERNA INC | 1.62% | 6,995,858 | $131,592,089 | | No Change | $18.81 | 13F |
| FULC | Fulcrum Therapeutics, Inc. | 1.53% | 8,852,079 | $123,752,064 | -1,377,020 | -13.46% | | Form 4 |
| WVE | Wave Life Sciences Ltd. | 1.51% | 18,231,824 | $121,970,903 | 29,815 | 0.16% | | Form 4 |
| DNTH | DIANTHUS THERAPEUTICS INC | 1.39% | 2,866,733 | $112,805,944 | | No Change | $39.35 | 13F |
| BCAX | BICARA THERAPEUTICS INC | 1.35% | 6,955,993 | $109,835,129 | | No Change | $15.79 | 13F |
| GHRS | GH RESEARCH PLC | 1.35% | 7,676,697 | $109,776,767 | | No Change | $14.3 | 13F |
| SPRY | ARS PHARMACEUTICALS INC | 1.34% | 10,860,977 | $109,152,819 | | No Change | $10.05 | 13F |
| NUVL | NUVALENT INC-A | 1.32% | 1,246,456 | $107,793,515 | 1,246,456 | New | $86.48 | 13F |
| IRON | DISC MEDICINE INC | 1.28% | 1,577,106 | $104,215,164 | | No Change | $66.08 | 13F |
| BCRX | BioCryst Pharmaceuticals, Inc. | 1.25% | 15,302,186 | $103,442,777 | 15,302,186 | New | | 13G |
| PEPG | PEPGEN INC | 1.14% | 20,064,545 | $92,698,198 | 9,375,000 | 87.7% | $4.62 | 13F |
| LENZ | LENZ THERAPEUTICS, INC. | 1.13% | 4,265,106 | $91,571,826 | 86,283 | 2.06% | | 13D |
| GERN | GERON CORP | 1.02% | 60,379,366 | $82,719,731 | | No Change | $1.37 | 13F |
| TSHA | TAYSHA GENE THERAPIES INC | 0.95% | 23,555,648 | $77,026,969 | | No Change | $3.27 | 13F |
| BLTE | BELITE BIO INC - ADR | 0.80% | 875,000 | $64,750,000 | 875,000 | New | $74 | 13F |
| CLYM | CLIMB BIO INC | 0.78% | 31,419,267 | $63,152,727 | | No Change | $2.01 | 13F |
| LXEO | Lexeo Therapeutics, Inc. | 0.57% | 5,000,000 | $46,100,000 | 5,000,000 | New | | 13G |
| EVMN | Evommune, Inc. | 0.53% | 2,674,425 | $42,790,800 | 2,674,425 | New | | Form 4 |
| SRRK | SCHOLAR ROCK HOLDING CORP | 0.53% | 1,166,788 | $43,451,185 | 30,335 | 2.67% | $37.24 | 13F |
| GPCR | STRUCTURE THERAPEUTICS INC | 0.52% | 1,517,418 | $42,487,704 | | No Change | $28 | 13F |
| MNPR | MONOPAR THERAPEUTICS INC | 0.51% | 511,207 | $41,750,276 | | No Change | $81.67 | 13F |
| FDMT | 4D MOLECULAR THERAPEUTICS IN | 0.49% | 4,563,211 | $39,654,304 | | No Change | $8.69 | 13F |
| VOR | Vor Biopharma Inc. | 0.48% | 1,401,226 | $39,388,463 | 1,401,226 | New | | Form 4 |
| SLDB | SOLID BIOSCIENCES INC | 0.44% | 5,811,423 | $35,856,480 | 100 | 0.00172% | $6.17 | 13F |
| MTSR | METSERA INC | 0.43% | 675,525 | $35,350,223 | | No Change | $52.33 | 13F |
| JBIO | JADE BIOSCIENCES, INC. | 0.36% | 3,214,969 | $29,191,919 | 2,152,643 | 202.63% | | 13G |
| ARTV | ARTIVA BIOTHERAPEUTICS INC | 0.35% | 9,853,302 | $28,278,977 | | No Change | $2.87 | 13F |
| LBRX | LB PHARMACEUTICALS INC | 0.34% | 1,776,958 | $28,058,167 | 1,776,958 | New | $15.79 | 13F |
| TVTX | TRAVERE THERAPEUTICS INC | 0.34% | 1,150,000 | $27,485,000 | | No Change | $23.9 | 13F |
| ASMB | ASSEMBLY BIOSCIENCES INC | 0.32% | 1,020,410 | $26,122,496 | 1,020,410 | New | $25.6 | 13F |
| ABOS | ACUMEN PHARMACEUTICALS INC | 0.31% | 14,932,063 | $25,533,828 | | No Change | $1.71 | 13F |
| CTNM | CONTINEUM THERAPEUTICS INC-A | 0.31% | 2,122,000 | $24,933,500 | 2,122,000 | New | $11.75 | 13F |
| BNTC | Benitec Biopharma Inc. | 0.29% | 1,850,000 | $23,661,500 | 1,850,000 | New | | 13G |
| VOR | VOR BIOPHARMA INC. | 0.29% | 2,345,277 | $23,593,487 | 362,976 | 18.31% | | 13D |
| CCCC | C4 Therapeutics, Inc. | 0.28% | 9,441,256 | $22,375,777 | 9,441,256 | New | | 13G |
| NKTX | NKARTA INC | 0.27% | 10,805,129 | $22,366,617 | | No Change | $2.07 | 13F |
| RANI | RANI THERAPEUTICS HOLDINGS, INC. | 0.26% | 9,882,477 | $20,654,377 | 9,882,477 | New | | 13G |
| LRMR | LARIMAR THERAPEUTICS INC | 0.24% | 6,045,351 | $19,526,484 | | No Change | $3.23 | 13F |
| IVVD | INVIVYD INC | 0.23% | 17,119,096 | $18,831,006 | 17,119,096 | New | $1.1 | 13F |
| PALI | PALISADE BIO, INC. | 0.21% | 9,935,761 | $16,890,794 | 9,935,761 | New | | 13G |
| TNGX | TANGO THERAPEUTICS INC | 0.21% | 2,000,000 | $16,800,000 | | No Change | $8.4 | 13F |
| PRME | PRIME MEDICINE INC | 0.20% | 3,000,000 | $16,620,000 | 3,000,000 | New | $5.54 | 13F |
| ACRV | ACRIVON THERAPEUTICS INC | 0.19% | 8,340,508 | $15,096,319 | | No Change | $1.81 | 13F |
| RCUS | ARCUS BIOSCIENCES INC | 0.19% | 1,136,364 | $15,454,550 | | No Change | $13.6 | 13F |
| QURE | UNIQURE NV | 0.14% | 200,000 | $11,674,000 | 200,000 | New | $58.37 | 13F |
| ELDN | ELEDON PHARMACEUTICALS INC | 0.11% | 3,566,338 | $9,236,815 | | No Change | $2.59 | 13F |
| SABS | SAB BIOTHERAPEUTICS INC | 0.11% | 4,401,500 | $8,847,015 | 4,401,500 | New | $2.01 | 13F |
| PCSC | Perceptive Capital Solutions Corp | 0.11% | 750,000 | $9,150,000 | | No Change | | 13D |
| AVTX | AVALO THERAPEUTICS INC | 0.10% | 662,968 | $8,426,323 | -270,005 | -28.94% | $12.71 | 13F |
| CTMX | CYTOMX THERAPEUTICS INC | 0.10% | 2,661,331 | $8,489,646 | | No Change | $3.19 | 13F |
| INSP | INSPIRE MEDICAL SYSTEMS INC | 0.10% | 114,901 | $8,525,654 | 114,901 | New | $74.2 | 13F |
| SRZN | SURROZEN INC | 0.10% | 602,626 | $7,764,836 | | No Change | $12.88 | 13F |
| HOWL | WEREWOLF THERAPEUTICS, INC. | 0.10% | 6,681,307 | $8,084,381 | | No Change | | 13D |
| ACET | ADICET BIO INC | 0.08% | 7,541,000 | $6,109,718 | | No Change | $0.81 | 13F |
| WGS | GENEDX HOLDINGS CORP | 0.08% | 58,044 | $6,253,661 | | No Change | $107.74 | 13F |
| NAMSW | NEWAMSTERDAM PHARMA CO NV-27 | 0.07% | 333,333 | $5,703,328 | | No Change | $17.11 | 13F |
| EVH | EVOLENT HEALTH INC - A | 0.06% | 579,052 | $4,898,780 | 579,052 | New | $8.46 | 13F |
| GKOS | GLAUKOS CORP | 0.05% | 54,180 | $4,418,379 | 54,180 | New | $81.55 | 13F |
| DSGN | DESIGN THERAPEUTICS INC | 0.04% | 475,699 | $3,582,013 | 475,699 | New | $7.53 | 13F |
| EXAS | EXACT SCIENCES CORP | 0.04% | 54,939 | $3,005,713 | 54,939 | New | $54.71 | 13F |
| PGNY | PROGYNY INC | 0.03% | 96,628 | $2,079,435 | 96,628 | New | $21.52 | 13F |
| IFRX | INFLARX NV | 0.03% | 1,973,233 | $2,644,132 | | No Change | $1.34 | 13F |
| ACHC | ACADIA HEALTHCARE CO INC | | | | -89,262 | Exited | | 13F |
| BBNX | BETA BIONICS INC | | | | -500,000 | Exited | | 13F |
| DYN | DYNE THERAPEUTICS INC | | | | -9,714,392 | Exited | | 13F |
| ETNB | 89BIO, INC. | | | | -19,889,683 | Exited | | 13D |
| HNGE | HINGE HEALTH INC-A | | | | -300,000 | Exited | | 13F |
| MBX | MBX BIOSCIENCES INC | | | | -377,841 | Exited | | 13F |
| OMDA | OMADA HEALTH INC | | | | -400,000 | Exited | | 13F |
| RXST | RXSIGHT INC | | | | -3,702,967 | Exited | | 13F |
| TXG | 10X GENOMICS INC-CLASS A | | | | -475,343 | Exited | | 13F |
| TRML | TOURMALINE BIO INC | | | | -2,538,925 | Exited | | 13F |
| VOR | VOR BIOPHARMA INC | | | | -39,646,039 | Exited | | 13F |
| ELVN | ENLIVEN THERAPEUTICS INC | | | | -848,986 | Exited | | 13F |
| TARA | PROTARA THERAPEUTIC INC | | | | -1,039,295 | Exited | | 13F |
