| ASND | ASCENDIS PHARMA A/S | 21.31% | 10,281,496 | $2,742,280,613 | 10,281,496 | New | $266.72 | 13F |
| PBLS | Parabilis Medicines, Inc. | 6.77% | 29,177,964 | $868,627,988 | 244,593 | 0.85% | | Form 4 |
| RYTM | RHYTHM PHARMACEUTICALS INC | 5.75% | 6,666,837 | $740,218,912 | | No Change | $111.03 | 13F |
| PCVX | VAXCYTE INC | 5.18% | 11,474,599 | $667,018,440 | | No Change | $58.13 | 13F |
| SION | SIONNA THERAPEUTICS INC | 3.39% | 9,905,045 | $435,722,930 | | No Change | $43.99 | 13F |
| TYRA | TYRA BIOSCIENCES, INC. | 3.13% | 14,130,492 | $359,338,412 | 1,931,867 | 15.84% | | 13D |
| EWTX | EDGEWISE THERAPEUTICS INC | 2.65% | 8,392,730 | $340,996,620 | -2,035,707 | -19.52% | $40.63 | 13F |
| NAMS | NEWAMSTERDAM PHARMA CO NV | 2.52% | 9,550,191 | $323,655,973 | | No Change | $33.89 | 13F |
| CLYM | Climb Bio, Inc. | 2.35% | 23,249,186 | $299,914,499 | 11,948,247 | 105.73% | | 13D |
| COAG | HEMAB THERAPEUTICS HOLDINGS | 2.23% | 7,808,627 | $286,810,870 | 7,808,627 | New | $36.73 | 13F |
| DBVT | DBV TECHNOLOGIES S.A. | 2.08% | 18,288,220 | $252,560,318 | 18,288,220 | New | | 13G |
| WVE | Wave Life Sciences, Inc. | 1.78% | 34,314,406 | $209,317,877 | 34,314,406 | New | | 13D |
| BCAX | BICARA THERAPEUTICS INC | 1.67% | 7,255,993 | $215,430,432 | | No Change | $29.69 | 13F |
| MLYS | MINERALYS THERAPEUTICS INC | 1.61% | 7,692,750 | $207,550,395 | | No Change | $26.98 | 13F |
| SEPN | Septerna, Inc. | 1.59% | 4,777,415 | $203,040,138 | -2,218,443 | -31.71% | | Form 4 |
| FRNM | Freenome, Inc. | 1.48% | 15,367,270 | $183,638,877 | 15,367,270 | New | | 13D |
| ARTV | Artiva Biotherapeutics, Inc. | 1.44% | 18,489,293 | $183,598,679 | 533,651 | 2.97% | | Form 4 |
| IRON | DISC MEDICINE INC | 1.39% | 2,450,221 | $179,209,164 | | No Change | $73.14 | 13F |
| SGP | SPYGLASS PHARMA INC | 1.39% | 8,021,117 | $178,550,064 | | No Change | $22.26 | 13F |
| JANX | JANUX THERAPEUTICS INC | 1.34% | 11,189,693 | $171,873,684 | | No Change | $15.36 | 13F |
| GHRS | GH Research PLC | 1.29% | 4,897,182 | $148,090,784 | -2,739,631 | -35.87% | | 13G |
| TSHA | TAYSHA GENE THERAPIES INC | 1.25% | 23,555,648 | $160,413,963 | | No Change | $6.81 | 13F |
| BCRX | BIOCRYST PHARMACEUTICALS INC | 1.23% | 15,827,186 | $158,271,860 | | No Change | $10 | 13F |
| WVE | WAVE LIFE SCIENCES LTD | 1.22% | 26,975,505 | $156,727,684 | | No Change | $5.81 | 13F |
| NUVL | NUVALENT INC-A | 1.20% | 1,246,456 | $153,937,316 | -1,287,689 | -50.81% | $123.5 | 13F |
| ABVX | ABIVAX SA-ADR | 1.17% | 1,132,557 | $150,924,546 | 1,132,557 | New | $133.26 | 13F |
| ORKA | ORUKA THERAPEUTICS INC | 1.15% | 1,554,597 | $147,950,996 | 1,554,597 | New | $95.17 | 13F |
| OBX | Obsidian Therapeutics, Inc. | 0.95% | 5,957,103 | $113,125,386 | 5,957,103 | New | | 13G |
| SLDB | SOLID BIOSCIENCES INC | 0.93% | 12,036,126 | $120,240,899 | 2,696,148 | 28.87% | $9.99 | 13F |
| LTGO | Latigo Biotherapeutics, Inc. | 0.85% | 5,295,690 | $98,288,006 | 5,295,690 | New | | 13G |
| ZLAB | ZAI LAB LTD-ADR | 0.85% | 5,743,533 | $109,127,127 | 36,271 | 0.64% | $19 | 13F |
| VOR | Vor Biopharma Inc. | 0.69% | 4,501,882 | $88,912,170 | 2,099,787 | 87.41% | | Form 4 |
| SPRY | ARS PHARMACEUTICALS INC | 0.68% | 10,860,977 | $86,996,426 | | No Change | $8.01 | 13F |
| XNCR | XENCOR INC | 0.66% | 5,274,274 | $84,915,811 | 377,037 | 7.7% | $16.1 | 13F |
| JBIO | JADE BIOSCIENCES INC | 0.63% | 3,671,083 | $81,571,464 | | No Change | $22.22 | 13F |
| NTLA | INTELLIA THERAPEUTICS INC | 0.60% | 4,526,926 | $76,595,588 | 4,526,926 | New | $16.92 | 13F |
| LBRX | LB PHARMACEUTICALS INC | 0.56% | 2,208,604 | $71,680,243 | | No Change | $32.46 | 13F |
| DFTX | DEFINIUM THERAPEUTICS INC | 0.55% | 1,500,000 | $70,560,000 | 1,500,000 | New | $47.04 | 13F |
| ACRS | ACLARIS THERAPEUTICS INC | 0.52% | 12,723,026 | $67,304,808 | 5,918,954 | 86.99% | $5.29 | 13F |
| FDMT | 4D MOLECULAR THERAPEUTICS IN | 0.52% | 5,049,779 | $67,162,061 | | No Change | $13.3 | 13F |
| SANA | SANA BIOTECHNOLOGY INC | 0.51% | 18,750,000 | $65,437,500 | 18,750,000 | New | $3.49 | 13F |
| DMRA | DAMORA THERAPEUTICS INC | 0.49% | 2,399,702 | $62,416,249 | 392 | 0.02% | $26.01 | 13F |
| MNPR | MONOPAR THERAPEUTICS INC | 0.48% | 667,207 | $61,776,696 | | No Change | $92.59 | 13F |
| ABOS | ACUMEN PHARMACEUTICALS INC | 0.44% | 20,992,669 | $56,050,426 | | No Change | $2.67 | 13F |
| GERN | GERON CORP | 0.43% | 42,809,751 | $54,796,481 | -20,961,615 | -32.87% | $1.28 | 13F |
| RZLT | REZOLUTE INC | 0.38% | 9,445,039 | $49,114,203 | 265,039 | 2.89% | $5.2 | 13F |
| EVMN | EVOMMUNE INC | 0.36% | 3,494,638 | $46,443,739 | | No Change | $13.29 | 13F |
| IPSC | CENTURY THERAPEUTICS INC | 0.34% | 17,754,430 | $43,498,354 | | No Change | $2.45 | 13F |
| AKTS | AKTIS ONCOLOGY INC | 0.33% | 1,314,405 | $42,363,273 | -188,679 | -12.55% | $32.23 | 13F |
| BIOA | BIOAGE LABS INC | 0.32% | 1,671,648 | $40,972,092 | 21,000 | 1.27% | $24.51 | 13F |
| SABS | SAB Biotherapeutics, Inc. | 0.31% | 9,609,852 | $36,997,930 | 5,208,352 | 118.33% | | 13D |
| CCCC | C4 THERAPEUTICS INC | 0.29% | 8,000,000 | $37,360,000 | | No Change | $4.67 | 13F |
| MIRM | MIRUM PHARMACEUTICALS INC | 0.29% | 318,554 | $37,293,117 | | No Change | $117.07 | 13F |
| PEPG | PEPGEN INC | 0.28% | 20,064,545 | $36,116,181 | | No Change | $1.8 | 13F |
| SCTX | Scribe Therapeutics Inc. | 0.28% | 1,802,178 | $34,187,317 | 1,802,178 | New | | 13G |
| IKT | Inhibikase Therapeutics, Inc. | 0.27% | 14,653,994 | $32,385,327 | 14,653,994 | New | | 13G |
| PRLD | PRELUDE THERAPEUTICS INC | 0.27% | 6,475,882 | $34,516,451 | 6,475,882 | New | $5.33 | 13F |
| NKTX | NKARTA INC | 0.24% | 10,805,129 | $30,578,515 | | No Change | $2.83 | 13F |
| AVR | ANTERIS TECHNOLOGIES GLOBAL | 0.23% | 3,000,000 | $29,550,000 | | No Change | $9.85 | 13F |
| QTTB | Q32 BIO INC | 0.23% | 2,332,457 | $29,715,502 | 2,332,457 | New | $12.74 | 13F |
| ASMB | ASSEMBLY BIOSCIENCES INC | 0.22% | 1,020,410 | $28,040,867 | | No Change | $27.48 | 13F |
| EDIT | EDITAS MEDICINE INC | 0.22% | 8,889,000 | $28,800,360 | 8,889,000 | New | $3.24 | 13F |
| OVID | OVID THERAPEUTICS INC | 0.22% | 10,500,968 | $28,247,604 | -213,032 | -1.99% | $2.69 | 13F |
| ALXO | ALX ONCOLOGY HOLDINGS INC | 0.21% | 13,011,849 | $26,934,527 | | No Change | $2.07 | 13F |
| AGEN | Agenus Inc. | 0.21% | 4,344,772 | $26,590,005 | 4,344,772 | New | | 13G |
| BNTC | BENITEC BIOPHARMA INC | 0.19% | 1,850,000 | $24,753,000 | | No Change | $13.38 | 13F |
| LENZ | LENZ THERAPEUTICS INC | 0.18% | 4,178,823 | $23,735,715 | | No Change | $5.68 | 13F |
| LXEO | LEXEO THERAPEUTICS INC | 0.18% | 5,000,000 | $23,275,000 | | No Change | $4.66 | 13F |
| ACRV | ACRIVON THERAPEUTICS INC | 0.17% | 12,229,396 | $21,768,325 | 3,888,888 | 46.63% | $1.78 | 13F |
| CAPR | Capricor Therapeutics, Inc. | 0.17% | 3,014,183 | $21,099,281 | 1,506,339 | 99.90% | | 13G |
| ALT | ALTIMMUNE INC | 0.15% | 6,500,000 | $19,760,000 | 6,500,000 | New | $3.04 | 13F |
| KPTI | KARYOPHARM THERAPEUTICS INC | 0.15% | 1,917,354 | $18,732,549 | | No Change | $9.77 | 13F |
| AURA | AURA BIOSCIENCES INC | 0.14% | 2,500,000 | $17,750,000 | 2,500,000 | New | $7.1 | 13F |
| AVTX | AVALO THERAPEUTICS INC | 0.14% | 1,000,000 | $18,480,000 | 337,032 | 50.84% | $18.48 | 13F |
| DRUG | BRIGHT MINDS BIOSCIENCES INC | 0.14% | 265,000 | $18,603,000 | | No Change | $70.2 | 13F |
| OKUR | ONKURE THERAPEUTICS INC-A | 0.14% | 3,998,333 | $18,232,398 | | No Change | $4.56 | 13F |
| FTH | FAETH THERAPEUTICS INC | 0.14% | 722,020 | $18,050,500 | 722,020 | New | $25 | 13F |
| PALI | PALISADE BIO INC | 0.12% | 7,124,116 | $14,889,402 | | No Change | $2.09 | 13F |
| SPTX | SEAPORT THERAPEUTICS INC | 0.12% | 700,000 | $15,204,000 | 700,000 | New | $21.72 | 13F |
| HLXC | HELIX ACQUISITION CORP-CL A | 0.10% | 1,250,000 | $13,300,000 | | No Change | $10.64 | 13F |
| EQ | EQUILLIUM INC | 0.08% | 3,096,336 | $9,908,275 | | No Change | $3.2 | 13F |
| WAY | WAYSTAR HOLDING CORP | 0.08% | 529,400 | $10,868,582 | | No Change | $20.53 | 13F |
| MGNX | MACROGENICS INC | 0.07% | 1,864,176 | $8,612,493 | | No Change | $4.62 | 13F |
| ACET | ADICET BIO INC | 0.06% | 932,624 | $8,057,871 | -250,000 | -21.14% | $8.64 | 13F |
| INO | Inovio Pharmaceuticals, Inc. | 0.06% | 10,666,523 | $7,253,236 | 10,666,523 | New | | 13G |
| PCSC | PERCEPTIVE CAPITAL SOLUTIONS | 0.06% | 750,000 | $8,160,000 | | No Change | $10.88 | 13F |
| NAMSW | NEWAMSTERDAM PHARMA CO NV-27 | 0.06% | 333,333 | $7,123,326 | | No Change | $21.37 | 13F |
| CRVS | CORVUS PHARMACEUTICALS INC | 0.05% | 450,000 | $6,723,000 | | No Change | $14.94 | 13F |
| RANI | RANI THERAPEUTICS HOLDINGS-A | 0.05% | 8,500,000 | $6,463,400 | | No Change | $0.76 | 13F |
| TCGX | TCGX Acquisition Corp. | 0.05% | 500,000 | $5,880,000 | 500,000 | New | | 13G |
| JATT | JATT II ACQUISITION CORP | 0.04% | 500,000 | $5,680,000 | 500,000 | New | $11.36 | 13F |
| JTTT | JATT III Acquisition Corp | 0.04% | 450,000 | $4,995,000 | 450,000 | New | | 13G |
| AMAN | AMANAT ACQUISITION CORP CL A | 0.03% | 375,000 | $3,810,000 | 375,000 | New | $10.16 | 13F |
| HOWL | WEREWOLF THERAPEUTICS INC | 0.00668% | 2,387,744 | $859,349 | -4,293,563 | -64.26% | $0.36 | 13F |
| PTN | PALATIN TECHNOLOGIES INC | 0.00521% | 62,124 | $670,318 | -7,876 | -11.25% | $10.79 | 13F |
| SYRE | SPYRE THERAPEUTICS INC | | | | -1,621,620 | Exited | | 13F |
| ASND | ASCENDIS PHARMA A/S - ADR | | | | -10,281,496 | Exited | | 13F |
| RNA | ATRIUM THERAPEUTICS INC | | | | -864,102 | Exited | | 13F |
| CTNM | CONTINEUM THERAPEUTICS INC-A | | | | -1,296,012 | Exited | | 13F |
| DSGN | DESIGN THERAPEUTICS INC | | | | -2,972,973 | Exited | | 13F |
| DNTH | DIANTHUS THERAPEUTICS INC | | | | -2,611,733 | Exited | | 13F |
| FULC | FULCRUM THERAPEUTICS INC | | | | -6,053,960 | Exited | | 13F |
| GRAL | GRAIL INC | | | | -428,266 | Exited | | 13F |
| HNGE | HINGE HEALTH INC-A | | | | -364,613 | Exited | | 13F |
| INSP | INSPIRE MEDICAL SYSTEMS INC | | | | -325,663 | Exited | | 13F |
| MPLT | MAPLIGHT THERAPEUTICS INC | | | | -248,294 | Exited | | 13F |
| OLMA | OLEMA PHARMACEUTICALS INC | | | | -2,600,000 | Exited | | 13F |
| PRAX | PRAXIS PRECISION MEDICINES I | | | | -373,787 | Exited | | 13F |
| RLMD | RELMADA THERAPEUTICS INC | | | | -2,947,369 | Exited | | 13F |
| SRPT | SAREPTA THERAPEUTICS INC | | | | -3,902,596 | Exited | | 13F |
| WGS | GENEDX HOLDINGS CORP | | | | -209,887 | Exited | | 13F |
| STRO | SUTRO BIOPHARMA INC | | | | -715,307 | Exited | | 13F |
| TVTX | TRAVERE THERAPEUTICS INC | | | | -746,841 | Exited | | 13F |
