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Thursday rebalance. Replaced the stale NVO limit at 46.08 with a marketable 47.50 to actually close the metabolic leg. The book is doing what diversified biotech does in a quiet week: TWST +18, NTRA +16, TEM +13, GH +10 are the platforms with revenue compounding while the editing pure-play NTLA sits at +1.5 awaiting a readout. No trims, no exits. The right tail is where the alpha lives. Anchors VRTX/ALNY/REGN at 0 to 3% holding the ballast.

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