{"slug":"perceptive","name":"Perceptive Advisors","style":"sector_healthcare","grade":"B","book":[{"ticker":"PRAX","issuer":"PRAXIS PRECISION MEDICINES I","shares":2035986.0,"value_usd":655974329.0,"pct_book":12.87,"position_rank":1,"tilt_pp":11.797,"action":"hold","shares_change_pct":2.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":70.0,"tier":"high","components":{"pct_book":{"value":1.0,"points":35.0},"rank_top10":{"value":1,"points":15.0},"tilt":{"value":11.797,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"CELC","issuer":"CELCUITY INC","shares":3127200.0,"value_usd":356938608.0,"pct_book":7.01,"position_rank":2,"tilt_pp":5.928,"action":"hold","shares_change_pct":-1.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":69.6,"tier":"moderate","components":{"pct_book":{"value":0.989,"points":34.61},"rank_top10":{"value":2,"points":15.0},"tilt":{"value":5.928,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"ASNDUSD","issuer":"ASCENDIS PHARMA A/S","shares":1531421.0,"value_usd":350281925.0,"pct_book":6.87,"position_rank":3,"tilt_pp":5.798,"action":"add","shares_change_pct":41.6,"add_streak_q":1,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":74.2,"tier":"high","components":{"pct_book":{"value":0.978,"points":34.22},"rank_top10":{"value":3,"points":15.0},"tilt":{"value":5.798,"points":10.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"ROIV","issuer":"ROIVANT SCIENCES LTD","shares":8285461.0,"value_usd":229507270.0,"pct_book":4.5,"position_rank":4,"tilt_pp":3.427,"action":"hold","shares_change_pct":3.8,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":0.1586,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":68.8,"tier":"moderate","components":{"pct_book":{"value":0.967,"points":33.83},"rank_top10":{"value":4,"points":15.0},"tilt":{"value":3.427,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"260","issuer":"CENTESSA PHARMACEUTICALS PLC","shares":5258903.0,"value_usd":208883627.0,"pct_book":4.1,"position_rank":5,"tilt_pp":3.022,"action":"add","shares_change_pct":80.2,"add_streak_q":1,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":73.4,"tier":"high","components":{"pct_book":{"value":0.956,"points":33.44},"rank_top10":{"value":5,"points":15.0},"tilt":{"value":3.022,"points":10.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"RYTM","issuer":"RHYTHM PHARMACEUTICALS INC","shares":2373795.0,"value_usd":206448951.0,"pct_book":4.05,"position_rank":6,"tilt_pp":2.975,"action":"hold","shares_change_pct":-6.8,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":68.1,"tier":"moderate","components":{"pct_book":{"value":0.944,"points":33.06},"rank_top10":{"value":6,"points":15.0},"tilt":{"value":2.975,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"SYRE","issuer":"SPYRE THERAPEUTICS INC","shares":3783225.0,"value_usd":190825869.0,"pct_book":3.75,"position_rank":7,"tilt_pp":2.668,"action":"add","shares_change_pct":23.3,"add_streak_q":2,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":77.7,"tier":"high","components":{"pct_book":{"value":0.933,"points":32.67},"rank_top10":{"value":7,"points":15.0},"tilt":{"value":2.668,"points":10.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"NUVL","issuer":"NUVALENT INC","shares":1580505.0,"value_usd":161922737.0,"pct_book":3.18,"position_rank":8,"tilt_pp":2.101,"action":"hold","shares_change_pct":-5.1,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":67.3,"tier":"moderate","components":{"pct_book":{"value":0.922,"points":32.28},"rank_top10":{"value":8,"points":15.0},"tilt":{"value":2.101,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"EWTX","issuer":"EDGEWISE THERAPEUTICS INC","shares":4423974.0,"value_usd":139355181.0,"pct_book":2.74,"position_rank":9,"tilt_pp":1.658,"action":"hold","shares_change_pct":-0.8,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":66.9,"tier":"moderate","components":{"pct_book":{"value":0.911,"points":31.89},"rank_top10":{"value":9,"points":15.0},"tilt":{"value":1.658,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"PTGX","issuer":"PROTAGONIST THERAPEUTICS INC","shares":1230879.0,"value_usd":129734647.0,"pct_book":2.55,"position_rank":10,"tilt_pp":1.469,"action":"hold","shares_change_pct":-8.9,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":0.3101,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":66.5,"tier":"moderate","components":{"pct_book":{"value":0.9,"points":31.5},"rank_top10":{"value":10,"points":15.0},"tilt":{"value":1.469,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"APGE","issuer":"APOGEE THERAPEUTICS INC","shares":1540384.0,"value_usd":129654121.0,"pct_book":2.54,"position_rank":11,"tilt_pp":1.467,"action":"trim","shares_change_pct":-33.9,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":51.1,"tier":"moderate","components":{"pct_book":{"value":0.889,"points":31.11},"rank_top10":{"value":11,"points":0.0},"tilt":{"value":1.467,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"TVTX","issuer":"TRAVERE THERAPEUTICS INC","shares":4142551.0,"value_usd":123075190.0,"pct_book":2.42,"position_rank":12,"tilt_pp":1.338,"action":"hold","shares_change_pct":-3.2,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":50.7,"tier":"moderate","components":{"pct_book":{"value":0.878,"points":30.72},"rank_top10":{"value":12,"points":0.0},"tilt":{"value":1.338,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"AMLX","issuer":"AMYLYX PHARMACEUTICALS INC","shares":8284882.0,"value_usd":115159860.0,"pct_book":2.26,"position_rank":13,"tilt_pp":1.183,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":50.3,"tier":"moderate","components":{"pct_book":{"value":0.867,"points":30.33},"rank_top10":{"value":13,"points":0.0},"tilt":{"value":1.183,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"RLAY","issuer":"RELAY THERAPEUTICS INC","shares":9751141.0,"value_usd":97023853.0,"pct_book":1.9,"position_rank":14,"tilt_pp":0.827,"action":"add","shares_change_pct":412.3,"add_streak_q":2,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":59.9,"tier":"moderate","components":{"pct_book":{"value":0.856,"points":29.94},"rank_top10":{"value":14,"points":0.0},"tilt":{"value":0.827,"points":10.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"INBX","issuer":"INHIBRX BIOSCIENCES INC","shares":1442707.0,"value_usd":96993192.0,"pct_book":1.9,"position_rank":15,"tilt_pp":0.826,"action":"hold","shares_change_pct":-0.7,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":49.9,"tier":"moderate","components":{"pct_book":{"value":0.856,"points":29.94},"rank_top10":{"value":15,"points":0.0},"tilt":{"value":0.826,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"MGTX","issuer":"MEIRAGTX HLDGS PLC","shares":10326103.0,"value_usd":89312864.0,"pct_book":1.75,"position_rank":16,"tilt_pp":0.676,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":49.2,"tier":"moderate","components":{"pct_book":{"value":0.833,"points":29.17},"rank_top10":{"value":16,"points":0.0},"tilt":{"value":0.676,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"ZYME","issuer":"ZYMEWORKS INC","shares":3510078.0,"value_usd":87892353.0,"pct_book":1.73,"position_rank":17,"tilt_pp":0.648,"action":"hold","shares_change_pct":7.6,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":48.8,"tier":"moderate","components":{"pct_book":{"value":0.822,"points":28.78},"rank_top10":{"value":17,"points":0.0},"tilt":{"value":0.648,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"SLDB","issuer":"SOLID BIOSCIENCES INC","shares":11906646.0,"value_usd":85727851.0,"pct_book":1.68,"position_rank":18,"tilt_pp":0.605,"action":"hold","shares_change_pct":0.6,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":48.4,"tier":"moderate","components":{"pct_book":{"value":0.811,"points":28.39},"rank_top10":{"value":18,"points":0.0},"tilt":{"value":0.605,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"DYN","issuer":"DYNE THERAPEUTICS INC","shares":4668839.0,"value_usd":84646051.0,"pct_book":1.66,"position_rank":19,"tilt_pp":0.584,"action":"add","shares_change_pct":34.2,"add_streak_q":2,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":58.0,"tier":"moderate","components":{"pct_book":{"value":0.8,"points":28.0},"rank_top10":{"value":19,"points":0.0},"tilt":{"value":0.584,"points":10.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"BCRX","issuer":"BIOCRYST PHARMACEUTICALS INC","shares":7434033.0,"value_usd":70771994.0,"pct_book":1.39,"position_rank":20,"tilt_pp":0.312,"action":"add","shares_change_pct":135.1,"add_streak_q":2,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":57.6,"tier":"moderate","components":{"pct_book":{"value":0.789,"points":27.61},"rank_top10":{"value":20,"points":0.0},"tilt":{"value":0.312,"points":10.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"ORKA","issuer":"ORUKA THERAPEUTICS INC","shares":1395501.0,"value_usd":68449324.0,"pct_book":1.34,"position_rank":21,"tilt_pp":0.266,"action":"hold","shares_change_pct":-5.5,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":47.2,"tier":"moderate","components":{"pct_book":{"value":0.778,"points":27.22},"rank_top10":{"value":21,"points":0.0},"tilt":{"value":0.266,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"AORT","issuer":"ARTIVION INC","shares":1637290.0,"value_usd":59957560.0,"pct_book":1.18,"position_rank":22,"tilt_pp":0.099,"action":"hold","shares_change_pct":-4.9,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":0.1102,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":46.8,"tier":"moderate","components":{"pct_book":{"value":0.767,"points":26.83},"rank_top10":{"value":22,"points":0.0},"tilt":{"value":0.099,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"NRIX","issuer":"NURIX THERAPEUTICS INC","shares":3710877.0,"value_usd":57518594.0,"pct_book":1.13,"position_rank":23,"tilt_pp":0.052,"action":"hold","shares_change_pct":4.4,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":46.4,"tier":"moderate","components":{"pct_book":{"value":0.756,"points":26.44},"rank_top10":{"value":23,"points":0.0},"tilt":{"value":0.052,"points":10.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"MRNA","issuer":"MODERNA INC","shares":1000000.0,"value_usd":50800000.0,"pct_book":1.0,"position_rank":24,"tilt_pp":-0.08,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":"Healthcare","themes":[{"key":"us_sector_health","name":"Health Care (Equal-Weight)","name_zh":"\u533b\u7597\u4fdd\u5065\uff08\u7b49\u6743\uff09"}],"since_excess":0.2091,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":31.1,"tier":"low","components":{"pct_book":{"value":0.744,"points":26.06},"rank_top10":{"value":24,"points":0.0},"tilt":{"value":-0.08,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"NAUT","issuer":"NAUTILUS BIOTECHNOLOGY INC","shares":12594211.0,"value_usd":48865538.0,"pct_book":0.96,"position_rank":25,"tilt_pp":-0.118,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":35.7,"tier":"low","components":{"pct_book":{"value":0.733,"points":25.67},"rank_top10":{"value":25,"points":0.0},"tilt":{"value":-0.118,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"CTMX","issuer":"CYTOMX THERAPEUTICS INC.","shares":10098824.0,"value_usd":47464473.0,"pct_book":0.93,"position_rank":26,"tilt_pp":-0.146,"action":"hold","shares_change_pct":4.3,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":35.3,"tier":"low","components":{"pct_book":{"value":0.722,"points":25.28},"rank_top10":{"value":26,"points":0.0},"tilt":{"value":-0.146,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"ANRO","issuer":"ALTO NEUROSCIENCE INC","shares":2009893.0,"value_usd":45182395.0,"pct_book":0.89,"position_rank":27,"tilt_pp":-0.191,"action":"add","shares_change_pct":12.6,"add_streak_q":3,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":49.9,"tier":"moderate","components":{"pct_book":{"value":0.711,"points":24.89},"rank_top10":{"value":27,"points":0.0},"tilt":{"value":-0.191,"points":0.0},"add_streak":{"value":3,"points":15.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"IMVT","issuer":"IMMUNOVANT INC","shares":1597383.0,"value_usd":39678994.0,"pct_book":0.78,"position_rank":28,"tilt_pp":-0.299,"action":"trim","shares_change_pct":-19.9,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":34.5,"tier":"low","components":{"pct_book":{"value":0.7,"points":24.5},"rank_top10":{"value":28,"points":0.0},"tilt":{"value":-0.299,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"ISRG","issuer":"INTUITIVE SURGICAL INC","shares":85419.0,"value_usd":39377305.0,"pct_book":0.77,"position_rank":29,"tilt_pp":-0.304,"action":"hold","shares_change_pct":-2.8,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[{"key":"robotics_automation","name":"Robotics & Automation","name_zh":"\u673a\u5668\u4eba\u4e0e\u81ea\u52a8\u5316"},{"key":"us_sector_health","name":"Health Care (Equal-Weight)","name_zh":"\u533b\u7597\u4fdd\u5065\uff08\u7b49\u6743\uff09"}],"since_excess":-0.1653,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":34.1,"tier":"low","components":{"pct_book":{"value":0.689,"points":24.11},"rank_top10":{"value":29,"points":0.0},"tilt":{"value":-0.304,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"IONS","issuer":"IONIS PHARMACEUTICALS INC","shares":504000.0,"value_usd":37845360.0,"pct_book":0.74,"position_rank":30,"tilt_pp":-0.335,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":28.7,"tier":"low","components":{"pct_book":{"value":0.678,"points":23.72},"rank_top10":{"value":30,"points":0.0},"tilt":{"value":-0.335,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"DAWNGBX","issuer":"DAY ONE BIOPHARMACEUTICALS I","shares":1755799.0,"value_usd":37644331.0,"pct_book":0.74,"position_rank":31,"tilt_pp":-0.338,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":28.7,"tier":"low","components":{"pct_book":{"value":0.678,"points":23.72},"rank_top10":{"value":31,"points":0.0},"tilt":{"value":-0.338,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"ABVX","issuer":"ABIVAX SA","shares":328884.0,"value_usd":36621233.0,"pct_book":0.72,"position_rank":32,"tilt_pp":-0.359,"action":"trim","shares_change_pct":-28.2,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":32.9,"tier":"low","components":{"pct_book":{"value":0.656,"points":22.94},"rank_top10":{"value":32,"points":0.0},"tilt":{"value":-0.359,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"CRVS","issuer":"CORVUS PHARMACEUTICALS INC","shares":2292441.0,"value_usd":33538412.0,"pct_book":0.66,"position_rank":33,"tilt_pp":-0.419,"action":"add","shares_change_pct":231.1,"add_streak_q":1,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":37.6,"tier":"low","components":{"pct_book":{"value":0.644,"points":22.56},"rank_top10":{"value":33,"points":0.0},"tilt":{"value":-0.419,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"RGEN","issuer":"REPLIGEN CORP","shares":280541.0,"value_usd":33053341.0,"pct_book":0.65,"position_rank":34,"tilt_pp":-0.429,"action":"trim","shares_change_pct":-11.1,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":0.4104,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":32.2,"tier":"low","components":{"pct_book":{"value":0.633,"points":22.17},"rank_top10":{"value":34,"points":0.0},"tilt":{"value":-0.429,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"JAZZ","issuer":"JAZZ PHARMACEUTICALS PLC","shares":170000.0,"value_usd":32138500.0,"pct_book":0.63,"position_rank":35,"tilt_pp":-0.447,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[{"key":"fv:healthcaretherapeutics","name":"Therapeutics","name_zh":"Therapeutics"}],"since_excess":0.0603,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":31.8,"tier":"low","components":{"pct_book":{"value":0.622,"points":21.78},"rank_top10":{"value":35,"points":0.0},"tilt":{"value":-0.447,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"DMRA","issuer":"DAMORA THERAPEUTICS INC","shares":1223000.0,"value_usd":31675700.0,"pct_book":0.62,"position_rank":36,"tilt_pp":-0.456,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":26.4,"tier":"low","components":{"pct_book":{"value":0.611,"points":21.39},"rank_top10":{"value":36,"points":0.0},"tilt":{"value":-0.456,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"XFOR","issuer":"X4 PHARMACEUTICALS INC","shares":6737648.0,"value_usd":27826486.0,"pct_book":0.55,"position_rank":37,"tilt_pp":-0.531,"action":"hold","shares_change_pct":6.7,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":31.0,"tier":"low","components":{"pct_book":{"value":0.6,"points":21.0},"rank_top10":{"value":37,"points":0.0},"tilt":{"value":-0.531,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"GH","issuer":"GUARDANT HEALTH INC","shares":300000.0,"value_usd":27711000.0,"pct_book":0.54,"position_rank":38,"tilt_pp":-0.533,"action":"add","shares_change_pct":87.5,"add_streak_q":2,"persistence":"persisted","sector":"Healthcare","themes":[{"key":"fv:healthcareoncology","name":"Oncology","name_zh":"Oncology"},{"key":"fv:healthcarediagnostics","name":"Diagnostics","name_zh":"Diagnostics"},{"key":"fv:healthcaregenomics","name":"Genomics","name_zh":"Genomics"}],"since_excess":0.556,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":40.6,"tier":"low","components":{"pct_book":{"value":0.589,"points":20.61},"rank_top10":{"value":38,"points":0.0},"tilt":{"value":-0.533,"points":0.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"DRUG","issuer":"BRIGHT MINDS BIOSCIENCES INC","shares":377544.0,"value_usd":27549386.0,"pct_book":0.54,"position_rank":39,"tilt_pp":-0.537,"action":"trim","shares_change_pct":-16.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":30.6,"tier":"low","components":{"pct_book":{"value":0.589,"points":20.61},"rank_top10":{"value":39,"points":0.0},"tilt":{"value":-0.537,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"IVVD","issuer":"INVIVYD INC","shares":20859303.0,"value_usd":27117094.0,"pct_book":0.53,"position_rank":40,"tilt_pp":-0.545,"action":"hold","shares_change_pct":-4.2,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":29.8,"tier":"low","components":{"pct_book":{"value":0.567,"points":19.83},"rank_top10":{"value":40,"points":0.0},"tilt":{"value":-0.545,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"SION","issuer":"SIONNA THERAPEUTICS INC","shares":658439.0,"value_usd":26396820.0,"pct_book":0.52,"position_rank":41,"tilt_pp":-0.559,"action":"trim","shares_change_pct":-44.2,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":29.4,"tier":"low","components":{"pct_book":{"value":0.556,"points":19.44},"rank_top10":{"value":41,"points":0.0},"tilt":{"value":-0.559,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"AXSM","issuer":"AXSOME THERAPEUTICS INC.","shares":149950.0,"value_usd":25344549.0,"pct_book":0.5,"position_rank":42,"tilt_pp":-0.58,"action":"hold","shares_change_pct":0.7,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":29.1,"tier":"low","components":{"pct_book":{"value":0.544,"points":19.06},"rank_top10":{"value":42,"points":0.0},"tilt":{"value":-0.58,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"RVMD","issuer":"REVOLUTION MEDICINES INC","shares":258600.0,"value_usd":25148850.0,"pct_book":0.49,"position_rank":43,"tilt_pp":-0.584,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":33.7,"tier":"low","components":{"pct_book":{"value":0.533,"points":18.67},"rank_top10":{"value":43,"points":0.0},"tilt":{"value":-0.584,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"SABS","issuer":"SAB BIOTHERAPEUTICS INC","shares":6431743.0,"value_usd":24633576.0,"pct_book":0.48,"position_rank":44,"tilt_pp":-0.594,"action":"add","shares_change_pct":700.8,"add_streak_q":2,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":38.3,"tier":"low","components":{"pct_book":{"value":0.522,"points":18.28},"rank_top10":{"value":44,"points":0.0},"tilt":{"value":-0.594,"points":0.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"BLTE","issuer":"BELITE BIO INC","shares":151979.0,"value_usd":24231532.0,"pct_book":0.48,"position_rank":45,"tilt_pp":-0.602,"action":"trim","shares_change_pct":-63.3,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":28.3,"tier":"low","components":{"pct_book":{"value":0.522,"points":18.28},"rank_top10":{"value":45,"points":0.0},"tilt":{"value":-0.602,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"TENX","issuer":"TENAX THERAPEUTICS INC","shares":1447782.0,"value_usd":23150034.0,"pct_book":0.45,"position_rank":46,"tilt_pp":-0.623,"action":"add","shares_change_pct":229.7,"add_streak_q":2,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":37.5,"tier":"low","components":{"pct_book":{"value":0.5,"points":17.5},"rank_top10":{"value":46,"points":0.0},"tilt":{"value":-0.623,"points":0.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"AXGN","issuer":"AXOGEN INC","shares":697312.0,"value_usd":23101947.0,"pct_book":0.45,"position_rank":47,"tilt_pp":-0.624,"action":"trim","shares_change_pct":-11.1,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":27.5,"tier":"low","components":{"pct_book":{"value":0.5,"points":17.5},"rank_top10":{"value":47,"points":0.0},"tilt":{"value":-0.624,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"VRDN","issuer":"VIRIDIAN THERAPEUTICS INC","shares":1170829.0,"value_usd":22901415.0,"pct_book":0.45,"position_rank":48,"tilt_pp":-0.628,"action":"trim","shares_change_pct":-61.5,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":27.5,"tier":"low","components":{"pct_book":{"value":0.5,"points":17.5},"rank_top10":{"value":48,"points":0.0},"tilt":{"value":-0.628,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"OBIO","issuer":"ORCHESTRA BIOMED HLDGS INC","shares":5037906.0,"value_usd":21411101.0,"pct_book":0.42,"position_rank":49,"tilt_pp":-0.657,"action":"hold","shares_change_pct":-1.7,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":26.3,"tier":"low","components":{"pct_book":{"value":0.467,"points":16.33},"rank_top10":{"value":49,"points":0.0},"tilt":{"value":-0.657,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"RAPP","issuer":"RAPPORT THERAPEUTICS INC","shares":673923.0,"value_usd":21087051.0,"pct_book":0.41,"position_rank":50,"tilt_pp":-0.663,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":25.9,"tier":"low","components":{"pct_book":{"value":0.456,"points":15.94},"rank_top10":{"value":50,"points":0.0},"tilt":{"value":-0.663,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"DBVT","issuer":"DBV TECHNOLOGIES S A","shares":964391.0,"value_usd":20146128.0,"pct_book":0.4,"position_rank":51,"tilt_pp":-0.682,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":20.6,"tier":"low","components":{"pct_book":{"value":0.444,"points":15.56},"rank_top10":{"value":51,"points":0.0},"tilt":{"value":-0.682,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"LONA","issuer":"LEONABIO INC","shares":1859322.0,"value_usd":19113830.0,"pct_book":0.38,"position_rank":52,"tilt_pp":-0.702,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":25.2,"tier":"low","components":{"pct_book":{"value":0.433,"points":15.17},"rank_top10":{"value":52,"points":0.0},"tilt":{"value":-0.702,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"AVR","issuer":"ANTERIS TECHNOLOGIES GLOBAL","shares":3425476.0,"value_usd":19011392.0,"pct_book":0.37,"position_rank":53,"tilt_pp":-0.704,"action":"add","shares_change_pct":104.4,"add_streak_q":1,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":29.8,"tier":"low","components":{"pct_book":{"value":0.422,"points":14.78},"rank_top10":{"value":53,"points":0.0},"tilt":{"value":-0.704,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"STRO","issuer":"SUTRO BIOPHARMA INC","shares":715307.0,"value_usd":17818297.0,"pct_book":0.35,"position_rank":54,"tilt_pp":-0.728,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":19.4,"tier":"low","components":{"pct_book":{"value":0.411,"points":14.39},"rank_top10":{"value":54,"points":0.0},"tilt":{"value":-0.728,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"TNGX","issuer":"TANGO THERAPEUTICS INC","shares":808153.0,"value_usd":16906561.0,"pct_book":0.33,"position_rank":55,"tilt_pp":-0.745,"action":"add","shares_change_pct":57.5,"add_streak_q":2,"persistence":"persisted","sector":"Healthcare","themes":[{"key":"fv:healthcareoncology","name":"Oncology","name_zh":"Oncology"}],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":34.0,"tier":"low","components":{"pct_book":{"value":0.4,"points":14.0},"rank_top10":{"value":55,"points":0.0},"tilt":{"value":-0.745,"points":0.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"CTNM","issuer":"CONTINEUM THERAPEUTICS INC","shares":1255592.0,"value_usd":16398032.0,"pct_book":0.32,"position_rank":56,"tilt_pp":-0.755,"action":"trim","shares_change_pct":-14.3,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":23.6,"tier":"low","components":{"pct_book":{"value":0.389,"points":13.61},"rank_top10":{"value":56,"points":0.0},"tilt":{"value":-0.755,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"PALI","issuer":"PALISADE BIO INC","shares":8928149.0,"value_usd":15624261.0,"pct_book":0.31,"position_rank":57,"tilt_pp":-0.771,"action":"trim","shares_change_pct":-25.9,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":23.2,"tier":"low","components":{"pct_book":{"value":0.378,"points":13.22},"rank_top10":{"value":57,"points":0.0},"tilt":{"value":-0.771,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"IRTC","issuer":"IRHYTHM HOLDINGS INC","shares":105026.0,"value_usd":12395169.0,"pct_book":0.24,"position_rank":58,"tilt_pp":-0.834,"action":"hold","shares_change_pct":-2.8,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[{"key":"fv:wearablesmedical","name":"Medical","name_zh":"Medical"},{"key":"fv:healthcaretelemedicine","name":"Telemedicine","name_zh":"Telemedicine"}],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":22.8,"tier":"low","components":{"pct_book":{"value":0.367,"points":12.83},"rank_top10":{"value":58,"points":0.0},"tilt":{"value":-0.834,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"EVMN","issuer":"EVOMMUNE INC","shares":448350.0,"value_usd":10307567.0,"pct_book":0.2,"position_rank":59,"tilt_pp":-0.875,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":17.4,"tier":"low","components":{"pct_book":{"value":0.356,"points":12.44},"rank_top10":{"value":59,"points":0.0},"tilt":{"value":-0.875,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"PHAT","issuer":"PHATHOM PHARMACEUTICALS INC","shares":925000.0,"value_usd":10276750.0,"pct_book":0.2,"position_rank":60,"tilt_pp":-0.876,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":17.4,"tier":"low","components":{"pct_book":{"value":0.356,"points":12.44},"rank_top10":{"value":60,"points":0.0},"tilt":{"value":-0.876,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"NMRA","issuer":"NEUMORA THERAPEUTICS INC.","shares":5104097.0,"value_usd":9952989.0,"pct_book":0.2,"position_rank":61,"tilt_pp":-0.882,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":17.4,"tier":"low","components":{"pct_book":{"value":0.356,"points":12.44},"rank_top10":{"value":61,"points":0.0},"tilt":{"value":-0.882,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"OMDA","issuer":"OMADA HEALTH INC","shares":786330.0,"value_usd":9884168.0,"pct_book":0.19,"position_rank":62,"tilt_pp":-0.883,"action":"trim","shares_change_pct":-67.2,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":21.3,"tier":"low","components":{"pct_book":{"value":0.322,"points":11.28},"rank_top10":{"value":62,"points":0.0},"tilt":{"value":-0.883,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"NBIX","issuer":"NEUROCRINE BIOSCIENCES INC","shares":65050.0,"value_usd":8569687.0,"pct_book":0.17,"position_rank":63,"tilt_pp":-0.909,"action":"trim","shares_change_pct":-80.4,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":0.0881,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":20.9,"tier":"low","components":{"pct_book":{"value":0.311,"points":10.89},"rank_top10":{"value":63,"points":0.0},"tilt":{"value":-0.909,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"BBNX","issuer":"BETA BIONICS INC","shares":842944.0,"value_usd":8446299.0,"pct_book":0.17,"position_rank":64,"tilt_pp":-0.912,"action":"add","shares_change_pct":39.8,"add_streak_q":2,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":30.9,"tier":"low","components":{"pct_book":{"value":0.311,"points":10.89},"rank_top10":{"value":64,"points":0.0},"tilt":{"value":-0.912,"points":0.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"IRD","issuer":"OPUS GENETICS INC","shares":1835842.0,"value_usd":8353081.0,"pct_book":0.16,"position_rank":65,"tilt_pp":-0.913,"action":"trim","shares_change_pct":-57.6,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":20.1,"tier":"low","components":{"pct_book":{"value":0.289,"points":10.11},"rank_top10":{"value":65,"points":0.0},"tilt":{"value":-0.913,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"BLLN","issuer":"BILLIONTOONE INC","shares":91812.0,"value_usd":7247639.0,"pct_book":0.14,"position_rank":66,"tilt_pp":-0.935,"action":"add","shares_change_pct":26.1,"add_streak_q":2,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":29.7,"tier":"low","components":{"pct_book":{"value":0.278,"points":9.72},"rank_top10":{"value":66,"points":0.0},"tilt":{"value":-0.935,"points":0.0},"add_streak":{"value":2,"points":10.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"TWST","issuer":"TWIST BIOSCIENCE CORP","shares":150000.0,"value_usd":7128000.0,"pct_book":0.14,"position_rank":67,"tilt_pp":-0.937,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":"Healthcare","themes":[{"key":"fv:healthcaregenomics","name":"Genomics","name_zh":"Genomics"}],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":14.7,"tier":"low","components":{"pct_book":{"value":0.278,"points":9.72},"rank_top10":{"value":67,"points":0.0},"tilt":{"value":-0.937,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"SRZN","issuer":"SURROZEN INC","shares":229393.0,"value_usd":6682218.0,"pct_book":0.13,"position_rank":68,"tilt_pp":-0.946,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":13.9,"tier":"low","components":{"pct_book":{"value":0.256,"points":8.94},"rank_top10":{"value":68,"points":0.0},"tilt":{"value":-0.946,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"AGMB","issuer":"AGOMAB THERAPEUTICS NV","shares":600000.0,"value_usd":6294000.0,"pct_book":0.12,"position_rank":69,"tilt_pp":-0.954,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":13.6,"tier":"low","components":{"pct_book":{"value":0.244,"points":8.56},"rank_top10":{"value":69,"points":0.0},"tilt":{"value":-0.954,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"EOLS","issuer":"EVOLUS INC","shares":1286862.0,"value_usd":5289003.0,"pct_book":0.1,"position_rank":70,"tilt_pp":-0.974,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":23.2,"tier":"low","components":{"pct_book":{"value":0.233,"points":8.17},"rank_top10":{"value":70,"points":0.0},"tilt":{"value":-0.974,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"COGT","issuer":"COGENT BIOSCIENCES INC","shares":121082.0,"value_usd":4660446.0,"pct_book":0.09,"position_rank":71,"tilt_pp":-0.986,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":17.8,"tier":"low","components":{"pct_book":{"value":0.222,"points":7.78},"rank_top10":{"value":71,"points":0.0},"tilt":{"value":-0.986,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"ADGM","issuer":"ADAGIO MED HLDGS INC","shares":3780830.0,"value_usd":4347955.0,"pct_book":0.09,"position_rank":72,"tilt_pp":-0.992,"action":"trim","shares_change_pct":-61.7,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":17.8,"tier":"low","components":{"pct_book":{"value":0.222,"points":7.78},"rank_top10":{"value":72,"points":0.0},"tilt":{"value":-0.992,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"OCUL","issuer":"OCULAR THERAPEUTIX INC","shares":500000.0,"value_usd":4235000.0,"pct_book":0.08,"position_rank":73,"tilt_pp":-0.994,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":22.0,"tier":"low","components":{"pct_book":{"value":0.2,"points":7.0},"rank_top10":{"value":73,"points":0.0},"tilt":{"value":-0.994,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"ADMA","issuer":"ADMA BIOLOGICS INC","shares":467233.0,"value_usd":4209769.0,"pct_book":0.08,"position_rank":74,"tilt_pp":-0.995,"action":"trim","shares_change_pct":-47.1,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":0.0541,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":17.0,"tier":"low","components":{"pct_book":{"value":0.2,"points":7.0},"rank_top10":{"value":74,"points":0.0},"tilt":{"value":-0.995,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"IKT","issuer":"INHIBIKASE THERAPEUTICS INC","shares":2315000.0,"value_usd":3889200.0,"pct_book":0.08,"position_rank":75,"tilt_pp":-1.001,"action":"trim","shares_change_pct":-57.3,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":17.0,"tier":"low","components":{"pct_book":{"value":0.2,"points":7.0},"rank_top10":{"value":75,"points":0.0},"tilt":{"value":-1.001,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"CBIO","issuer":"CRESCENT BIOPHARMA INC.","shares":206942.0,"value_usd":3801525.0,"pct_book":0.07,"position_rank":76,"tilt_pp":-1.003,"action":"trim","shares_change_pct":-54.4,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":15.8,"tier":"low","components":{"pct_book":{"value":0.167,"points":5.83},"rank_top10":{"value":76,"points":0.0},"tilt":{"value":-1.003,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"APLSUSD","issuer":"APELLIS PHARMACEUTICALS INC","shares":80956.0,"value_usd":3256860.0,"pct_book":0.06,"position_rank":77,"tilt_pp":-1.013,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"persisted","sector":"Technology","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":20.4,"tier":"low","components":{"pct_book":{"value":0.156,"points":5.44},"rank_top10":{"value":77,"points":0.0},"tilt":{"value":-1.013,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"OM","issuer":"OUTSET MED INC","shares":833333.0,"value_usd":3199998.0,"pct_book":0.06,"position_rank":78,"tilt_pp":-1.015,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":15.4,"tier":"low","components":{"pct_book":{"value":0.156,"points":5.44},"rank_top10":{"value":78,"points":0.0},"tilt":{"value":-1.015,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"EDSA","issuer":"EDESA BIOTECH INC","shares":563239.0,"value_usd":2945740.0,"pct_book":0.06,"position_rank":79,"tilt_pp":-1.019,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":10.4,"tier":"low","components":{"pct_book":{"value":0.156,"points":5.44},"rank_top10":{"value":79,"points":0.0},"tilt":{"value":-1.019,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"ADPT","issuer":"ADAPTIVE BIOTECHNOLOGIES COR","shares":152500.0,"value_usd":2116700.0,"pct_book":0.04,"position_rank":80,"tilt_pp":-1.036,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":19.3,"tier":"low","components":{"pct_book":{"value":0.122,"points":4.28},"rank_top10":{"value":80,"points":0.0},"tilt":{"value":-1.036,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"AVTX","issuer":"AVALO THERAPEUTICS INC","shares":139667.0,"value_usd":2085228.0,"pct_book":0.04,"position_rank":81,"tilt_pp":-1.036,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":14.3,"tier":"low","components":{"pct_book":{"value":0.122,"points":4.28},"rank_top10":{"value":81,"points":0.0},"tilt":{"value":-1.036,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"CNTB","issuer":"CONNECT BIOPHARMA HLDGS LTD","shares":792696.0,"value_usd":2076864.0,"pct_book":0.04,"position_rank":82,"tilt_pp":-1.037,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":14.3,"tier":"low","components":{"pct_book":{"value":0.122,"points":4.28},"rank_top10":{"value":82,"points":0.0},"tilt":{"value":-1.037,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"CORT","issuer":"CORCEPT THERAPEUTICS INC","shares":50000.0,"value_usd":2015500.0,"pct_book":0.04,"position_rank":83,"tilt_pp":-1.038,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":"Healthcare","themes":[],"since_excess":0.6205,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":9.3,"tier":"low","components":{"pct_book":{"value":0.122,"points":4.28},"rank_top10":{"value":83,"points":0.0},"tilt":{"value":-1.038,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"MDLN","issuer":"MEDLINE INC","shares":28000.0,"value_usd":1246000.0,"pct_book":0.02,"position_rank":84,"tilt_pp":-1.053,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":"Healthcare","themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":12.7,"tier":"low","components":{"pct_book":{"value":0.078,"points":2.72},"rank_top10":{"value":84,"points":0.0},"tilt":{"value":-1.053,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"PTN","issuer":"PALATIN TECHNOLOGIES INC","shares":61945.0,"value_usd":1079082.0,"pct_book":0.02,"position_rank":85,"tilt_pp":-1.056,"action":"trim","shares_change_pct":-11.5,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":12.7,"tier":"low","components":{"pct_book":{"value":0.078,"points":2.72},"rank_top10":{"value":85,"points":0.0},"tilt":{"value":-1.056,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"CPIX","issuer":"CUMBERLAND PHARMACEUTICALS I","shares":196978.0,"value_usd":640179.0,"pct_book":0.01,"position_rank":86,"tilt_pp":-1.065,"action":"trim","shares_change_pct":-42.2,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":11.9,"tier":"low","components":{"pct_book":{"value":0.056,"points":1.94},"rank_top10":{"value":86,"points":0.0},"tilt":{"value":-1.065,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"RVMDW","issuer":"REVOLUTION MEDICINES INC","shares":250000.0,"value_usd":447500.0,"pct_book":0.01,"position_rank":87,"tilt_pp":-1.069,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":11.9,"tier":"low","components":{"pct_book":{"value":0.056,"points":1.94},"rank_top10":{"value":87,"points":0.0},"tilt":{"value":-1.069,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"XGN","issuer":"EXAGEN INC","shares":114893.0,"value_usd":344679.0,"pct_book":0.01,"position_rank":88,"tilt_pp":-1.071,"action":"new","shares_change_pct":null,"add_streak_q":1,"persistence":"pending","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":6.9,"tier":"low","components":{"pct_book":{"value":0.056,"points":1.94},"rank_top10":{"value":88,"points":0.0},"tilt":{"value":-1.071,"points":0.0},"add_streak":{"value":1,"points":5.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"pending","points":0.0}}}},{"ticker":"ENSC","issuer":"ENSYSCE BIOSCIENCES INC","shares":86666.0,"value_usd":46670.0,"pct_book":0.0,"position_rank":89,"tilt_pp":-1.076,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":10.8,"tier":"low","components":{"pct_book":{"value":0.022,"points":0.78},"rank_top10":{"value":89,"points":0.0},"tilt":{"value":-1.076,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}},{"ticker":"SRZNW","issuer":"SURROZEN INC","shares":166666.0,"value_usd":2667.0,"pct_book":0.0,"position_rank":90,"tilt_pp":-1.077,"action":"hold","shares_change_pct":0.0,"add_streak_q":0,"persistence":"persisted","sector":null,"themes":[],"since_excess":null,"period_end":"2026-03-31","filing_date":"2026-05-15","conviction":{"score":10.8,"tier":"low","components":{"pct_book":{"value":0.022,"points":0.78},"rank_top10":{"value":90,"points":0.0},"tilt":{"value":-1.077,"points":0.0},"add_streak":{"value":0,"points":0.0},"new_at_size":{"value":false,"points":0.0},"persisted":{"value":"persisted","points":10.0}}}}],"book_meta":{"n_positions":93,"n_resolved":90,"resolution_pct":96.8,"book_value_usd":5095034390.0,"filing_date":"2026-05-15","period_end":"2026-03-31"},"sector_series":[{"period_end":"2023-03-31","filing_date":"2023-05-15","weights":{"Unclassified":61.14,"Healthcare":37.81,"Technology":1.05},"top_theme_weights":{"Healthcare":0.38,"Industrials":0.33}},{"period_end":"2023-06-30","filing_date":"2023-08-14","weights":{"Unclassified":52.94,"Healthcare":44.76,"Technology":2.3},"top_theme_weights":{"US Sectors (EW)":1.19,"Healthcare":0.21}},{"period_end":"2023-09-30","filing_date":"2023-11-14","weights":{"Unclassified":51.79,"Healthcare":48.04,"Technology":0.16},"top_theme_weights":{"US Sectors (EW)":1.53,"Healthcare":0.01}},{"period_end":"2023-12-31","filing_date":"2024-02-14","weights":{"Unclassified":55.11,"Healthcare":44.8,"Technology":0.09},"top_theme_weights":{"US Sectors (EW)":1.8,"Healthcare":0.82,"Industrials":0.41}},{"period_end":"2024-03-31","filing_date":"2024-05-15","weights":{"Healthcare":57.15,"Unclassified":42.79,"Technology":0.06},"top_theme_weights":{"US Sectors (EW)":2.16,"Healthcare":1.75,"Industrials":0.71}},{"period_end":"2024-06-30","filing_date":"2024-08-14","weights":{"Healthcare":55.24,"Unclassified":44.69,"Technology":0.07},"top_theme_weights":{"Healthcare":0.94,"US Sectors (EW)":0.92,"Industrials":0.65,"Artificial Intelligence":0.23}},{"period_end":"2024-09-30","filing_date":"2024-11-14","weights":{"Healthcare":65.55,"Unclassified":34.2,"Basic Materials":0.18,"Technology":0.07},"top_theme_weights":{"Healthcare":2.31,"US Sectors (EW)":1.17,"Industrials":0.6}},{"period_end":"2024-12-31","filing_date":"2025-02-14","weights":{"Healthcare":69.82,"Unclassified":30.16,"Technology":0.02},"top_theme_weights":{"US Sectors (EW)":1.97,"Healthcare":1.1,"Industrials":0.91}},{"period_end":"2025-03-31","filing_date":"2025-05-15","weights":{"Healthcare":69.14,"Unclassified":30.84,"Technology":0.01},"top_theme_weights":{"US Sectors (EW)":1.12,"Healthcare":0.86,"Industrials":0.71}},{"period_end":"2025-06-30","filing_date":"2025-08-14","weights":{"Healthcare":79.55,"Unclassified":19.36,"Financial":1.09},"top_theme_weights":{"US Sectors (EW)":2.38,"Industrials":0.91,"Healthcare":0.37}},{"period_end":"2025-09-30","filing_date":"2025-11-14","weights":{"Healthcare":78.46,"Unclassified":19.82,"Financial":0.97,"Basic Materials":0.75},"top_theme_weights":{"US Sectors (EW)":0.89,"Industrials":0.68,"Artificial Intelligence":0.2,"Healthcare":0.08}},{"period_end":"2025-12-31","filing_date":"2026-02-17","weights":{"Healthcare":84.03,"Unclassified":13.24,"Basic Materials":2.18,"Financial":0.55},"top_theme_weights":{"US Sectors (EW)":2.49,"Healthcare":0.97,"Industrials":0.89}},{"period_end":"2026-03-31","filing_date":"2026-05-15","weights":{"Healthcare":94.37,"Unclassified":5.57,"Technology":0.06},"top_theme_weights":{"US Sectors (EW)":1.0,"Industrials":0.77}}],"sector_rotation":{"into":[{"sector":"Healthcare","delta_pp":10.34},{"sector":"Technology","delta_pp":0.06}],"out_of":[{"sector":"Basic Materials","delta_pp":-2.18},{"sector":"Financial","delta_pp":-0.55}],"deltas":{"Healthcare":10.34,"Technology":0.06,"Financial":-0.55,"Basic Materials":-2.18,"Unclassified":-7.67},"period_end":"2026-03-31","prev_period_end":"2025-12-31","method_note":{"en":"Current sector/theme map applied to history \u2014 historical quarters are classified with today's sector and theme membership (survivorship-lite; past classification changes are not reconstructed).","zh":"\u4ee5\u5f53\u524d\u884c\u4e1a/\u4e3b\u9898\u6620\u5c04\u56de\u6eaf\u5386\u53f2\u2014\u2014\u5386\u53f2\u5b63\u5ea6\u6309\u4eca\u65e5\u7684\u884c\u4e1a\u4e0e\u4e3b\u9898\u6210\u5458\u5206\u7c7b\uff08\u8f7b\u5ea6\u5e78\u5b58\u8005\u53e3\u5f84\uff1b\u4e0d\u91cd\u5efa\u8fc7\u53bb\u7684\u5206\u7c7b\u53d8\u66f4\uff09\u3002"}},"theme_read":{"leans":[{"theme_key":"us_sector_health","label":"Health Care (Equal-Weight)","label_zh":"\u533b\u7597\u4fdd\u5065\uff08\u7b49\u6743\uff09","category":"US Sectors (EW)","source":"basket","tickers":["MRNA"],"added_pp":1.0,"held_pp":1.77,"n_names":2},{"theme_key":"fv:healthcareoncology","label":"Oncology","label_zh":"Oncology","category":"Healthcare & Biotech","source":"finviz","tickers":["GH","TNGX"],"added_pp":0.87,"held_pp":0.87,"n_names":2},{"theme_key":"fv:healthcaregenomics","label":"Genomics","label_zh":"Genomics","category":"Healthcare & Biotech","source":"finviz","tickers":["GH","TWST"],"added_pp":0.68,"held_pp":0.68,"n_names":2},{"theme_key":"fv:healthcarediagnostics","label":"Diagnostics","label_zh":"Diagnostics","category":"Healthcare & Biotech","source":"finviz","tickers":["GH"],"added_pp":0.54,"held_pp":0.54,"n_names":1}],"core":{"theme_key":"us_sector_health","label":"Health Care (Equal-Weight)","label_zh":"\u533b\u7597\u4fdd\u5065\uff08\u7b49\u6743\uff09","category":"US Sectors (EW)","source":"basket","tickers":["MRNA"],"added_pp":1.0,"held_pp":1.77,"n_names":2},"narrative_en":"Core lean: Health Care (Equal-Weight) \u2014 added MRNA (+1.0pp of book this quarter)","narrative_zh":"\u6838\u5fc3\u503e\u5411\uff1a\u533b\u7597\u4fdd\u5065\uff08\u7b49\u6743\uff09 \u2014 \u672c\u5b63\u5ea6\u52a0\u4ed3 MRNA\uff08\u5360\u7ec4\u5408 +1.0pp\uff09"}}