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| # | Issuer | Value | Shares | % Portfolio |
|---|---|---|---|---|
| 1 | SCHOLAR ROCK HLDG CORP | $339.1M | 6897652 | 32.95% |
| 2 | MINERALYS THERAPEUTICS INC | $159.0M | 5871018 | 15.45% |
| 3 | ALUMIS INC | $139.8M | 6345219 | 13.58% |
| 4 | SEPTERNA INC | $75.7M | 3149128 | 7.35% |
| 5 | KALARIS THERAPEUTICS INC | $74.7M | 12948081 | 7.26% |
| 6 | SPYGLASS PHARMA INC | $54.7M | 2109953 | 5.31% |
| 7 | NEUROGENE INC | $34.6M | 1717127 | 3.36% |
| 8 | INVENTIVA SA | $28.8M | 5194805 | 2.80% |
| 9 | SUTRO BIOPHARMA INC | $26.5M | 1062872 | 2.57% |
| 10 | JADE BIOSCIENCES INC | $13.6M | 968798 | 1.32% |
| 11 | VTV THERAPEUTICS INC | $11.8M | 298496 | 1.15% |
| 12 | AQUESTIVE THERAPEUTICS INC | $10.4M | 2500000 | 1.01% |
| 13 | X4 PHARMACEUTICALS INC | $7.6M | 1832566 | 0.74% |
| 14 | NKARTA INC | $7.4M | 3507666 | 0.72% |
| 15 | ARCELLX INC | $7.0M | 60873 | 0.68% |
| 16 | UPSTREAM BIO INC | $6.6M | 736047 | 0.64% |
| 17 | ABIVAX SA | $6.3M | 56581 | 0.61% |
| 18 | AGOMAB THERAPEUTICS NV | $6.3M | 600000 | 0.61% |
| 19 | RANI THERAPEUTICS HLDGS INC | $6.2M | 8500000 | 0.61% |
| 20 | COHERUS ONCOLOGY INC | $5.8M | 3428571 | 0.56% |
| 21 | PALVELLA THERAPEUTICS INC NE | $4.8M | 38432 | 0.47% |
| 22 | GOSSAMER BIO INC | $2.4M | 7222559 | 0.23% |
Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.