Sector breakdown

04
Healthcare 90.1%
Other/Unmapped 9.9%

Full portfolio 86 positions

05
Type Streak 8Q trend
CAI Caris Life Sciences, Inc. - Common Stock $147,122,490 5.44% 8,256,032 $3,913,578 Up ×3
HNGE Hinge Health, Inc. Class A Common Stock $110,400,541 4.08% 1,330,127 $54,290,998 Down ×1
GKOS Glaukos Corporation Common Stock $82,727,718 3.06% 591,927 $528,770 Down ×2
EWTX Edgewise Therapeutics, Inc. - Common Stock $81,136,688 3.00% 1,996,965 $7,187,823 Down ×2
SYRE Spyre Therapeutics, Inc. - Common Stock $78,079,080 2.89% 879,467 $31,027,488 Down ×3
IRTC iRhythm Holdings, Inc. - Common Stock $77,824,465 2.88% 654,262 $5,809,605 Up ×2
NEO NeoGenomics, Inc. - Common Stock $71,756,567 2.65% 4,918,202 $30,075,444 Down ×1
KOD Kodiak Sciences Inc - Common Stock $69,633,909 2.58% 1,787,318 $306,399 Down ×2
XENE Xenon Pharmaceuticals Inc. - Common Shares $68,294,443 2.53% 1,131,452 $-9,536,541 Down ×3
Unknown issuer (CUSIP: 02081GAD4) $66,183,358 2.45% 69,121,000 $2,793,835 Up ×1
GLUE Monte Rosa Therapeutics, Inc. - Common Stock $59,327,800 2.19% 2,451,562 $6,579,658 Down ×1
DNTH Dianthus Therapeutics, Inc. - Common Stock $57,957,904 2.14% 594,562 $-17,516,723 Down ×2
NBIX Neurocrine Biosciences, Inc. - Common Stock $56,656,579 2.10% 336,171 $-29,253,842 Down ×5
ATEC Alphatec Holdings, Inc. - Common Stock $56,496,947 2.09% 6,531,439 $32,857,699 Up ×1
Unknown issuer (CUSIP: 370920100) $55,398,448 2.05% 3,283,844 $10,485,960 Down ×1
MRVI Maravai LifeSciences Holdings, Inc. - Class A common stock $54,306,227 2.01% 8,702,921 $25,326,563 Down ×1
KRYS Krystal Biotech, Inc. - Common Stock $47,936,138 1.77% 128,975 $812,112 Down ×4
HUM Humana Inc. Common Stock $45,481,690 1.68% 114,500 Up ×1
TMO Thermo Fisher Scientific Inc Common Stock $44,819,077 1.66% 89,395 $-851,433 Down ×1
KYMR Kymera Therapeutics, Inc. - Common Stock $43,363,951 1.60% 378,163 $15,248,662 Up ×1
RYTM Rhythm Pharmaceuticals, Inc. - Common Stock $42,316,642 1.57% 381,128 $15,301,325 Up ×1
GLTO Galecto, Inc. - Common Stock $42,146,006 1.56% 1,620,377 $18,969,495 Up ×1
ACAD ACADIA Pharmaceuticals Inc. - Common Stock $41,653,895 1.54% 1,646,399 $-13,354,995 Down ×1
BTSG BrightSpring Health Services, Inc. - Common Stock $41,617,554 1.54% 596,753 $-1,698,153 Down ×2
TMDX TransMedics Group, Inc. - Common Stock $40,497,270 1.50% 609,715 $7,752,511 Up ×2
MBX MBX Biosciences, Inc. - Common Stock $39,240,576 1.45% 710,880 $-5,309,564 Down ×1
CLYM Climb Bio, Inc. - Common Stock $36,477,770 1.35% 2,797,375 $25,999,496 Up ×1
CDNA CareDx, Inc. - Common Stock $34,787,157 1.29% 1,220,602 $-2,938,658 Down ×1
MAZE Maze Therapeutics, Inc. - Common Stock $34,018,794 1.26% 1,140,040 Up ×1
DRUG Bright Minds Biosciences Inc. - common stock $33,964,304 1.26% 483,822 $-5,418,189 Down ×1
ACHC Acadia Healthcare Company, Inc. - Common Stock $33,707,816 1.25% 1,141,477 $18,600,215 Up ×1
NKTR Nektar Therapeutics - Common Stock $33,063,203 1.22% 473,617 $17,039,866 Up ×1
CRVS Corvus Pharmaceuticals, Inc. - Common Stock $31,766,892 1.18% 2,126,298 $6,123,457 Up ×1
NRIX Nurix Therapeutics, Inc. - Common stock $31,217,016 1.15% 1,286,769 $4,080,143 Down ×2
INSP Inspire Medical Systems, Inc. Common Stock $30,226,398 1.12% 677,570 $-4,722,663
AVTX Avalo Therapeutics, Inc. - Common Stock $30,107,283 1.11% 1,629,182 Up ×1
Unknown issuer (CUSIP: 010911105) $29,365,099 1.09% 1,083,983 Up ×1
DHR Danaher Corporation Common Stock $28,691,431 1.06% 150,627 $2,275,032 Up ×2
ISRG Intuitive Surgical, Inc. - Common Stock $27,892,082 1.03% 70,137 $-7,741,062 Down ×3
ORKA Oruka Therapeutics, Inc. - Common Stock $26,472,868 0.98% 278,164
Unknown issuer (CUSIP: 05348Y105) $26,381,923 0.98% 801,395 Up ×1
AVAH Aveanna Healthcare Holdings Inc. - Common Stock $26,267,958 0.97% 3,065,106 $12,077,379 Up ×1
BIOA BioAge Labs, Inc. - Common Stock $25,321,992 0.94% 1,033,129 $4,323,725 Down ×1
BSX Boston Scientific Corporation Common Stock $25,077,360 0.93% 587,567 $3,336,556 Up ×1
VERA Vera Therapeutics, Inc. - Class A Common Stock $24,232,307 0.90% 564,724 $3,158,867 Up ×1
RGEN Repligen Corporation - Common Stock $24,163,524 0.89% 177,100 $18,567,074 Up ×1
ZURA Zura Bio Limited - Class A Ordinary shares $23,483,741 0.87% 3,980,295 $-250,744 Down ×1
GH Guardant Health, Inc. - Common Stock $22,181,936 0.82% 147,850 $-23,976,461 Down ×1
EOLS Evolus, Inc. - Common Stock $21,897,150 0.81% 3,155,209 $9,134,741 Up ×1
NTRA Natera, Inc. - Common Stock $21,580,275 0.80% 79,500 $-4,218,435 Down ×1
KIDS OrthoPediatrics Corp. - Common Stock $21,050,078 0.78% 1,100,370 $3,587,206
ELV Elevance Health, Inc. Common Stock $20,867,951 0.77% 53,960 $2,694,031 Down ×1
TECX Tectonic Therapeutic, Inc. - Common Stock $20,518,438 0.76% 596,900 $-5,666,999 Down ×2
DYN Dyne Therapeutics, Inc. - Common Stock $20,468,692 0.76% 921,598 $-10,025,932 Down ×1
Unknown issuer (CUSIP: 64049MAB6) $16,885,250 0.62% 18,011,000 $-74,963,365 Down ×1
IMCR Immunocore Holdings plc - American Depositary Shares $16,552,132 0.61% 521,327 Up ×1
Unknown issuer (CUSIP: 759916AD1) $16,445,954 0.61% 16,000,000 $-82,231,046 Down ×1
ARGX argenx SE - American Depositary Shares $16,428,023 0.61% 17,707 $-45,598,682 Down ×1
CLDX Celldex Therapeutics, Inc. - Common Stock $16,247,598 0.60% 436,646 $-26,767,323 Down ×2
OVID Ovid Therapeutics Inc. - Common Stock $15,923,358 0.59% 5,919,464 Up ×1
MNKD MannKind Corporation - Common Stock $14,732,908 0.54% 3,458,429 Up ×1
QURE uniQure N.V. - Ordinary Shares $13,894,091 0.51% 301,652 Up ×1
XFOR X4 Pharmaceuticals, Inc. - Common Stock $13,649,261 0.50% 2,922,754 $131,961 Down ×2
ORIC Oric Pharmaceuticals, Inc. - Common Stock $13,153,468 0.49% 1,214,540 $-1,138,799 Up ×1
KNSA Kiniksa Pharmaceuticals International, plc - Class A Ordinary Shares $11,755,417 0.43% 183,822 $-1,366,517 Down ×6
OCS Oculis Holding AG - Ordinary shares $11,570,118 0.43% 834,183 Up ×1
ACRS Aclaris Therapeutics, Inc. - Common Stock $11,333,021 0.42% 2,142,348 $4,961,336 Up ×1
Unknown issuer (CUSIP: 81221K108) $10,860,000 0.40% 500,000 Up ×1
VOR Vor Biopharma Inc. - Common Stock $10,550,845 0.39% 573,104 $2,223,597 Up ×1
SRZN Surrozen, Inc. - Common Stock $10,140,040 0.38% 390,753 $-1,398,353 Down ×2
Unknown issuer (CUSIP: 4525EP200) $9,913,804 0.37% 645,010 Up ×1
HLXC Helix Acquisition Corp. III - Class A Ordinary Shares $9,540,000 0.35% 900,000 $270,000
IONS Ionis Pharmaceuticals, Inc. - Common Stock $9,258,059 0.34% 116,762 $-568,369 Down ×1
DGX Quest Diagnostics Incorporated Common Stock $9,156,240 0.34% 43,200 Up ×1
ANL Adlai Nortye Ltd. - American Depositary Shares $9,144,961 0.34% 795,214 Up ×1
TENX Tenax Therapeutics, Inc. - Common Stock $8,503,195 0.31% 584,412 Up ×1
Unknown issuer (CUSIP: 485925101) $7,155,000 0.26% 300,000 Up ×1
Unknown issuer (CUSIP: G0375M101) $7,112,000 0.26% 700,000 Up ×1
Unknown issuer (CUSIP: 423494103) $5,876,800 0.22% 160,000 Up ×1
GHRS GH Research PLC - Ordinary Shares $5,570,611 0.21% 207,240 Up ×1
WAT Waters Corporation Common Stock $5,265,562 0.19% 14,040 Up ×1
Unknown issuer (CUSIP: G75226103) $4,280,000 0.16% 400,000 Up ×1
Unknown issuer (CUSIP: G50765109) $2,840,000 0.11% 250,000 Up ×1
LUNG Pulmonx Corporation - Common Stock $978,303 0.04% 752,541 $7,525
VYNE VYNE Therapeutics Inc. - Common Stock $596,091 0.02% 916,077 $48,735
CYCN Cyclerion Therapeutics, Inc. - Common Stock $531,857 0.02% 156,890 Up ×1

Conviction holdings

08

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

SecurityValue% of portfolioStreak
CAI $147,122,490 5.44% up ×3

Biggest new bets

09

New positions opened this quarter, largest first.

SecurityValueShares% of portfolio
HUM $45,481,690 114,500 1.68%
MAZE $34,018,794 1,140,040 1.26%
AVTX $30,107,283 1,629,182 1.11%
Unknown issuer (CUSIP: 010911105) $29,365,099 1,083,983 1.09%
ORKA $26,472,868 278,164 0.98%
Unknown issuer (CUSIP: 05348Y105) $26,381,923 801,395 0.98%
IMCR $16,552,132 521,327 0.61%
OVID $15,923,358 5,919,464 0.59%
MNKD $14,732,908 3,458,429 0.54%
QURE $13,894,091 301,652 0.51%
OCS $11,570,118 834,183 0.43%
Unknown issuer (CUSIP: 81221K108) $10,860,000 500,000 0.40%
Unknown issuer (CUSIP: 4525EP200) $9,913,804 645,010 0.37%
DGX $9,156,240 43,200 0.34%
ANL $9,144,961 795,214 0.34%

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
HNGE Trimmed -125K +$54.3M
ARGX Trimmed -67K -$45.6M
ATEC Bought more +4.4M +$32.9M
SYRE Trimmed -53K +$31.0M
NEO Trimmed -699K +$30.1M
NBIX Trimmed -316K -$29.3M
CLDX Trimmed -919K -$26.8M
CLYM Bought more +1.3M +$26.0M
MRVI Trimmed -1.5M +$25.3M
GH Trimmed -352K -$24.0M

2 positions hidden — reported move looks larger than the position itself (data completeness check)

Exited positions

11

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarterShares beforeValue beforePrice since exit
CNTA June 30, 2026 1,986,768 $78,914,425 No longer tracked
NUVL June 30, 2026 700,429 $71,758,951 No longer tracked
CGON June 30, 2026 984,783 $66,650,113 -5.2%
ALGN March 31, 2026 381,004 $59,493,775 -16.2%
GH Sept. 30, 2025 837,800 $43,599,112 184.6%
APGE June 30, 2026 478,667 $40,289,401 No longer tracked
BPMC June 30, 2025 439,968 $38,941,568 No longer tracked
PEN June 30, 2026 105,352 $34,594,436 0.6%
SLNO June 30, 2026 959,259 $32,115,991 No longer tracked
RAPT March 31, 2026 929,694 $31,488,736 No longer tracked
GMED Dec. 31, 2025 498,000 $28,520,460 -13.4%
ILMN June 30, 2026 229,215 $28,253,041 55.3%
LEGN March 31, 2026 1,298,142 $28,221,607 2.7%
BCAX June 30, 2025 2,162,803 $28,181,323 89.8%
BMRN June 30, 2026 497,020 $28,076,660 -0.1%
ESTA June 30, 2026 463,600 $26,323,208 -25.3%
THC Dec. 31, 2025 121,700 $24,709,968 30.1%
FULC June 30, 2026 3,134,922 $24,044,852 0.8%
TERN March 31, 2026 575,321 $23,242,968 No longer tracked
EXAS Dec. 31, 2025 414,600 $22,682,766 No longer tracked
AKRO Dec. 31, 2025 475,400 $22,571,992 No longer tracked
ATEC Dec. 31, 2025 1,514,604 $22,022,342 -52.3%
CVS June 30, 2026 290,700 $20,878,074 -16.4%
BIIB March 31, 2026 115,700 $20,362,043 19.9%
VKTX Dec. 31, 2025 759,455 $19,958,477 -14.9%
APLS Sept. 30, 2025 1,121,034 $19,405,099 No longer tracked
TARS June 30, 2026 265,715 $18,639,907 16.0%
MDGL Sept. 30, 2025 60,781 $18,394,762 8.9%
RARE Dec. 31, 2025 588,700 $17,708,096 -33.8%
VTYX March 31, 2026 1,920,255 $17,339,903 No longer tracked
ENGN June 30, 2026 2,456,870 $16,731,285 12.1%
ASND June 30, 2025 106,713 $16,632,288 32.0%
SRPT Dec. 31, 2025 832,100 $16,034,567 -18.7%
UNH Sept. 30, 2025 49,400 $15,411,318 7.7%
DAWN Dec. 31, 2025 2,181,598 $15,380,266 No longer tracked
SRPT June 30, 2025 234,500 $14,965,790 2.3%
RNA Dec. 31, 2025 331,907 $14,461,188 -89.1%
EHC Dec. 31, 2025 113,335 $14,395,812 12.9%
ICLR March 31, 2026 73,370 $13,369,481 46.4%
TGTX June 30, 2026 358,800 $11,919,336 -1.2%
CELC Sept. 30, 2025 884,306 $11,805,485 46.0%
REPL Dec. 31, 2025 2,750,092 $11,522,885 34.5%
CNC June 30, 2026 330,000 $10,804,200 -1.9%
CMPX June 30, 2026 1,965,106 $10,395,411 -60.9%
IRWD June 30, 2025 6,622,584 $9,735,198 405.6%
SION Dec. 31, 2025 314,013 $9,235,122 -88.1%
AMLX Dec. 31, 2025 612,841 $8,328,509 130.0%
RVMD June 30, 2026 84,900 $8,256,525 10.3%
RLMD March 31, 2026 1,582,257 $7,642,301 -48.3%
CGEM June 30, 2025 980,773 $7,424,452 106.0%
GRAL June 30, 2026 142,755 $7,377,578 109.8%
XNCR March 31, 2026 459,166 $7,029,831 106.0%
CSTL March 31, 2026 177,183 $6,892,419 44.8%
DNTH June 30, 2025 375,355 $6,808,940 373.5%
RPRX Dec. 31, 2025 182,068 $6,423,359 47.9%
DNLI June 30, 2026 296,324 $5,689,421 -22.2%
HROW June 30, 2026 156,419 $5,515,334 -28.2%
ADPT March 31, 2026 311,991 $5,066,734 104.3%
MTSR June 30, 2025 175,000 $4,763,500 No longer tracked
RVTY June 30, 2026 48,400 $4,240,324 36.2%
CBIO Sept. 30, 2025 261,504 $4,220,675 20.4%
BLLN March 31, 2026 50,000 $4,092,000 34.2%
AARD June 30, 2025 500,000 $3,755,000 -63.1%
AVTE June 30, 2025 1,440,499 $3,615,652 No longer tracked
CELC June 30, 2026 29,198 $3,332,660 -31.1%
PRAX June 30, 2026 9,976 $3,214,167 -11.7%
ORKA March 31, 2026 84,795 $2,570,136 72.3%
KPTI March 31, 2026 303,370 $2,232,803 -85.6%
BBNX June 30, 2025 140,000 $1,713,600 30.2%
HTFL Dec. 31, 2025 50,000 $1,683,000 69.2%
SKYE June 30, 2025 825,732 $1,312,914 -95.0%
TRVI June 30, 2025 72,083 $453,402 154.3%