# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0000035402-26-002570
**Filing Date:** 2026-4
**Character Count:** 38137
**Document Hash:** 7155deac55b60e06336a79bf6fa8a074
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-26-002570.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0000035402-26-002570

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY COVINGTON TRUST
- **CENTRAL INDEX KEY:** 0000945908

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07319
- **FILM NUMBER:** 26895364

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Fidelity Disruptive Medicine ETF (Series ID: S000079688)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000240928 | Fidelity Disruptive Medicine ETF | FMED            |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® Disruptive Medicine ETF**

**February 28, 2026**

DRM-NPRT3-0426

1.9907233.102 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.3%** | &nbsp;&nbsp;**Common Stocks - 99.3%** | &nbsp;&nbsp;**Common Stocks - 99.3%** |
|  | Shares | Value ($)<br>|
| BELGIUM - 4.1%  |  |  |
| Health Care - 4.1% |  |  |
| Pharmaceuticals - 4.1% |  |  |
| UCB SA  | 8299 | 2474079 |
| CANADA - 1.1%  |  |  |
| Health Care - 1.1% |  |  |
| Biotechnology - 1.1% |  |  |
| Xenon Pharmaceuticals Inc (a) | 15658 | 676895 |
| CHINA - 0.8%  |  |  |
| Health Care - 0.8% |  |  |
| Biotechnology - 0.8% |  |  |
| Zai Lab Ltd ADR (a) | 24439 | 469718 |
| DENMARK - 1.5%  |  |  |
| Health Care - 1.5% |  |  |
| Biotechnology - 1.5% |  |  |
| Ascendis Pharma A/S ADR (a) | 3865 | 902478 |
| FRANCE - 2.0%  |  |  |
| Health Care - 2.0% |  |  |
| Life Sciences Tools & Services - 2.0% |  |  |
| Sartorius Stedim Biotech  | 5513 | 1192743 |
| GERMANY - 0.3%  |  |  |
| Health Care - 0.3% |  |  |
| Biotechnology - 0.3% |  |  |
| BioNTech SE ADR (a) | 2296 | 253088 |
| NETHERLANDS - 4.5%  |  |  |
| Health Care - 4.5% |  |  |
| Biotechnology - 4.5% |  |  |
| Argenx SE ADR (a) | 3053 | 2341407 |
| Newamsterdam Pharma Co NV (a)(b) | 10794 | 382755 |
| TOTAL NETHERLANDS |  | 2724162 |
| SWITZERLAND - 1.4%  |  |  |
| Health Care - 1.4% |  |  |
| Life Sciences Tools & Services - 1.4% |  |  |
| Lonza Group AG  | 1242 | 866177 |
| UNITED STATES - 83.6%  |  |  |
| Health Care - 83.6% |  |  |
| Biotechnology - 33.3% |  |  |
| Alnylam Pharmaceuticals Inc (a) | 6060 | 2017495 |
| Caris Life Sciences Inc (a)(b) | 40000 | 805600 |
| Centessa Pharmaceuticals PLC ADR (a) | 22800 | 612408 |
| Cogent Biosciences Inc (a) | 60000 | 2331001 |
| Cytokinetics Inc (a)(b) | 13223 | 822735 |
| CytomX Therapeutics Inc (a)(b) | 112069 | 601811 |
| Disc Medicine Inc (a) | 11078 | 738016 |
| Insmed Inc (a) | 8000 | 1194640 |
| Janux Therapeutics Inc (a) | 18809 | 255990 |
| Kiniksa Pharmaceuticals International Plc Class A (a) | 12000 | 533880 |
| Kymera Therapeutics Inc (a)(b) | 10000 | 913500 |
| Legend Biotech Corp ADR (a) | 55400 | 1052600 |
| Mirum Pharmaceuticals Inc (a) | 3500 | 323015 |
| Moderna Inc (a)(b) | 29259 | 1567405 |
| Natera Inc (a) | 4179 | 869399 |
| Nuvalent Inc Class A (a) | 6000 | 611700 |
| Olema Pharmaceuticals Inc (a) | 18000 | 435600 |
| Roivant Sciences Ltd (a) | 18000 | 520920 |
| Soleno Therapeutics Inc (a) | 6105 | 238522 |
| Stoke Therapeutics Inc (a) | 25079 | 913126 |
| Upstream Bio Inc (a) | 16000 | 122880 |
| Vaxcyte Inc (a) | 22513 | 1389953 |
| Veracyte Inc (a)(b) | 20000 | 731800 |
| Viking Therapeutics Inc (a) | 13375 | 452610 |
| Zenas Biopharma Inc (a) | 10000 | 263500 |
|  |  | 20320106 |
| Health Care Equipment & Supplies - 21.1% |  |  |
| Align Technology Inc (a) | 2979 | 566308 |
| Boston Scientific Corp (a) | 32000 | 2459200 |
| Dexcom Inc (a) | 10449 | 767270 |
| Edwards Lifesciences Corp (a) | 17421 | 1506394 |
| Insulet Corp (a) | 6372 | 1571399 |
| Intuitive Surgical Inc (a) | 3800 | 1913338 |
| iRhythm Technologies Inc (a) | 3155 | 421981 |
| Kestra Medical Technologies Ltd (a)(b) | 18400 | 428352 |
| Outset Medical Inc (a) | 34000 | 118660 |
| Penumbra Inc (a) | 3000 | 1033170 |
| PROCEPT BioRobotics Corp (a)(b) | 10651 | 241671 |
| ResMed Inc  | 2800 | 717528 |
| Stryker Corp  | 2925 | 1133321 |
|  |  | 12878592 |
| Health Care Providers & Services - 7.5% |  |  |
| Alignment Healthcare Inc (a) | 30094 | 578407 |
| Guardant Health Inc (a) | 6000 | 563399 |
| LifeStance Health Group Inc (a)(b) | 206792 | 1497174 |
| Privia Health Group Inc (a) | 45000 | 1068750 |
| UnitedHealth Group Inc  | 2973 | 871892 |
|  |  | 4579622 |
| Health Care Technology - 6.2% |  |  |
| Doximity Inc Class A (a) | 16000 | 392480 |
| Veeva Systems Inc Class A (a) | 10000 | 1820100 |
| Waystar Holding Corp (a)(b) | 60000 | 1539000 |
|  |  | 3751580 |
| Life Sciences Tools & Services - 9.3% |  |  |
| 10X Genomics Inc Class A (a) | 45000 | 1037250 |
| Bio-Techne Corp  | 8359 | 493181 |
| Danaher Corp  | 12280 | 2586659 |
| Repligen Corp (a) | 3970 | 511058 |
| Thermo Fisher Scientific Inc  | 2036 | 1060980 |
|  |  | 5689128 |
| Pharmaceuticals - 6.2% |  |  |
| Amylyx Pharmaceuticals Inc (a) | 23554 | 357314 |
| Crinetics Pharmaceuticals Inc (a)(b) | 19000 | 780900 |
| Eli Lilly & Co  | 1030 | 1083550 |
| Enliven Therapeutics Inc (a) | 17123 | 508382 |
| Structure Therapeutics Inc ADR (a) | 7402 | 466178 |
| WaVe Life Sciences Ltd (a) | 40000 | 557200 |
|  |  | 3753524 |
| TOTAL UNITED STATES |  | 50972552 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $49,010,378) |  | <br> **60531892** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 12.0%** | &nbsp;&nbsp;**Money Market Funds - 12.0%** | &nbsp;&nbsp;**Money Market Funds - 12.0%** | &nbsp;&nbsp;**Money Market Funds - 12.0%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (c) | 3.70 | 418522 | 418605 |
| Fidelity Securities Lending Cash Central Fund (c)(d) | 3.69 | 6877634 | 6878322 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $7,296,927) |  |  | **7296927** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 111.3%**<br> (Cost $56,307,305)<br>| <br>**67828819** |
| **NET OTHER ASSETS (LIABILITIES) - (11.3)%**  | **(6891931)** |
| **NET ASSETS - 100.0%** | **60936888** |

---

**Legend**

(a) Non-income producing.

(b) Security or a portion of the security is on loan at period end.

(c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

(d) Investment made with cash collateral received from securities on loan.

**Affiliated Central Funds**

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 316059 | 5303649 | 5200949 | 10438 | (154) | - | 418605 | 418522 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 2691268 | 27596111 | 23408911 | 4339 | (146) | - | 6878322 | 6877634 | 0.0% |
| Total | 3007327 | 32899760 | 28609860 | 14777 | (300) | - | 7296927 |  |  |

---

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.

Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium income received for lending certain types of securities.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Fidelity Covington Trust

- **b. Investment Company Act file number:** 811-07319

- **c. CIK number of Registrant:** 0000945908

- **d. LEI of Registrant:** 549300JFYFTF85QAQR28

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

**Item A.2. Information about the Series.**

- **a. Name of Series:** Fidelity Disruptive Medicine ETF

- **b. EDGAR series identifier (if any):** S000079688

- **c. LEI of Series:** 5493000DCMODNM1AVU48

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2026-02-28

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $68614585.82

**Total Liabilities:** $7677803.62

**Net Assets:** $60936782.20

**Cash Not Reported:** $731.71

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000240928 | -5.48%               | -1.28%               | -1.96%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1953928.03              | $-5489202.60                               |
| Month 2  | $-1038350.93             | $255858.39                                 |
| Month 3  | $779688.26               | $-1977317.27                               |

### Schedule of Portfolio Investments

| Name                                      | Title                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ALIGN TECHNOLOGY INC                      | ALIGN TECHNOLOGY INC                          | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |      2979 | NS      | $566307.90    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ALNYLAM PHARMACEUTICALS INC               | ALNYLAM PHARMACEUTICALS INC                   | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      6060 | NS      | $2017495.20   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ASCENDIS PHARMA A/S                       | ASCENDIS PHARMA AS SPON ADR                   | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |      3865 | NS      | $902477.50    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| BIO TECHNE CORP                           | BIO TECHNE CORP                               | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |      8359 | NS      | $493181.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON SCIENTIFIC CORP                    | BOSTON SCIENTIFIC CORP                        | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     32000 | NS      | $2459200.00   | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SOLENO THERAPEUTICS INC                   | SOLENO THERAPEUTICS INC                       | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |      6105 | NS      | $238522.35    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| CYTOKINETICS INC                          | CYTOKINETICS INC                              | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |     13223 | NS      | $822735.06    | 1.35%             |  |  |  | No            |                  1 | On Loan: —       |
| CYTOMX THERAPEUTICS INC                   | CYTOMX THERAPEUTICS INC                       | CUSIP: 23284F105<br>LEI: 5493004VW2FW0QLL3345 | Long             | EC               | CORP              | US        |    112069 | NS      | $601810.53    | 0.99%             |  |  |  | No            |                  1 | On Loan: —       |
| DANAHER CORP                              | DANAHER CORP                                  | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     12280 | NS      | $2586659.20   | 4.24%             |  |  |  | No            |                  1 | On Loan: No      |
| DEXCOM INC                                | DEXCOM INC                                    | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     10449 | NS      | $767270.07    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| EDWARDS LIFESCIENCES CORP                 | EDWARDS LIFESCIENCES CORP                     | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |     17421 | NS      | $1506393.87   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust              | Fidelity Cash Central Fund                    | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |    418522 | NS      | $418605.78    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust              | Fidelity Securities Lending Cash Central Fund | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   7651703 | NS      | $7652468.32   | 12.56%            |  |  |  | No            |                  1 | On Loan: No      |
| INSMED INC                                | INSMED INC                                    | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |      8000 | NS      | $1194640.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| INSULET CORP                              | INSULET CORP                                  | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |      6372 | NS      | $1571398.92   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUITIVE SURGICAL INC                    | INTUITIVE SURGICAL INC                        | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      3800 | NS      | $1913338.00   | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY and CO                          | ELI LILLY and CO                              | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      1030 | NS      | $1083549.70   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| LONZA GROUP AG                            | LONZA GROUP AG                                | CUSIP: N/A<br>LEI: 549300EFW4H2TCZ71055       | Long             | EC               | CORP              | CH        |      1242 | NS      | $866177.28    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| NATERA INC                                | NATERA INC                                    | CUSIP: 632307104<br>LEI: 529900CQ3OZ0A0VYVU59 | Long             | EC               | CORP              | US        |      4179 | NS      | $869399.16    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| PENUMBRA INC                              | PENUMBRA INC                                  | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |      3000 | NS      | $1033170.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| REPLIGEN CORP                             | REPLIGEN                                      | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |      3970 | NS      | $511058.10    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| RESMED INC                                | RESMED INC                                    | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      2800 | NS      | $717528.00    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| WAVE LIFE SCIENCES LTD                    | WAVE LIFE SCIENCES LTD                        | CUSIP: N/A<br>LEI: 54930070006GPKFYZ813       | Long             | EC               | CORP              | SG        |     40000 | NS      | $557200.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| SARTORIUS STEDIM BIOTECH                  | SARTORIUS STEDIM BIOTECH                      | CUSIP: N/A<br>LEI: 52990006IVXY7GCSSR39       | Long             | EC               | CORP              | FR        |      5513 | NS      | $1192742.84   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| STRYKER CORP                              | STRYKER CORP                                  | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      2925 | NS      | $1133320.50   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC              | THERMO FISHER SCIENTIFIC INC                  | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      2036 | NS      | $1060979.96   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC                    | UNITEDHEALTH GROUP INC                        | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      2973 | NS      | $871891.71    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                    | UCB SA                                        | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |      8299 | NS      | $2474078.62   | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| VEEVA SYS INC                             | VEEVA SYS INC CL A                            | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |     10000 | NS      | $1820100.00   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| VERACYTE INC                              | VERACYTE INC                                  | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |     20000 | NS      | $731800.00    | 1.20%             |  |  |  | No            |                  1 | On Loan: —       |
| VIKING THERAPEUTICS INC                   | VIKING THERAPEUTICS INC                       | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |     13375 | NS      | $452610.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| XENON PHARMACEUTICALS INC                 | XENON PHARMACEUTICALS INC                     | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |     15658 | NS      | $676895.34    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| 10X GENOMICS INC                          | 10X GENOMICS INC                              | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |     45000 | NS      | $1037250.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| MODERNA INC                               | MODERNA INC                                   | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |     29259 | NS      | $1567404.63   | 2.57%             |  |  |  | No            |                  1 | On Loan: —       |
| IRHYTHM TECHNOLOGIES INC                  | IRHYTHM TECHNOLOGIES INC                      | CUSIP: 450056106<br>LEI: 549300FJI72RJGDQS384 | Long             | EC               | CORP              | US        |      3155 | NS      | $421981.25    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ARGENX SE                                 | ARGENX SE SPONSORED ADR                       | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      3053 | NS      | $2341406.76   | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ROIVANT SCIENCES LTD                      | ROIVANT SCIENCES LTD                          | CUSIP: N/A<br>LEI: 549300DL466NY5J6U724       | Long             | EC               | CORP              | BM        |     18000 | NS      | $520920.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| ZAI LAB LTD                               | ZAI LAB LTD UNSPNRD ADR                       | CUSIP: 98887Q104<br>LEI: 549300P2UYQ9U5LY1T58 | Long             | EC               | CORP              | KY        |     24439 | NS      | $469717.58    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| KINIKSA PHARMACEUTICALS INTERNATIONAL PLC | KINIKSA PHARMACEUTICALS INTERNATIONAL PLC     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |     12000 | NS      | $533880.00    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| COGENT BIOSCIENCES INC                    | COGENT BIOSCIENCES INC                        | CUSIP: 19240Q201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60000 | NS      | $2331000.00   | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CRINETICS PHARMACEUTICALS INC             | CRINETICS PHARMACEUTICALS INC                 | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |     19000 | NS      | $780900.00    | 1.28%             |  |  |  | No            |                  1 | On Loan: —       |
| GUARDANT HEALTH INC                       | GUARDANT HEALTH INC                           | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |      6000 | NS      | $563400.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| STOKE THERAPEUTICS INC                    | STOKE THERAPEUTICS INC                        | CUSIP: 86150R107<br>LEI: 549300RD25SS2DIJHJ67 | Long             | EC               | CORP              | US        |     25079 | NS      | $913126.39    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| MIRUM PHARMACEUTICALS INC                 | MIRUM PHARMACEUTICALS INC                     | CUSIP: 604749101<br>LEI: 254900YZKR40F7F27K81 | Long             | EC               | CORP              | US        |      3500 | NS      | $323015.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| BIONTECH SE                               | BIONTECH SE ADR                               | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |      2296 | NS      | $253088.08    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ENLIVEN THERAPEUTICS INC                  | ENLIVEN THERAPEUTICS INC                      | CUSIP: 29337E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17123 | NS      | $508381.87    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGEND BIOTECH CORP                       | LEGEND BIOTECH CORP SPON ADR                  | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | KY        |     55400 | NS      | $1052600.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| VAXCYTE INC                               | VAXCYTE INC                                   | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |     22513 | NS      | $1389952.62   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| DISC MEDICINE INC                         | DISC MEDICINE INC                             | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11078 | NS      | $738016.36    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| KYMERA THERAPEUTICS INC                   | KYMERA THERAPEUTICS INC                       | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $913500.00    | 1.50%             |  |  |  | No            |                  1 | On Loan: —       |
| OUTSET MEDICAL INC                        | OUTSET MEDICAL INC                            | CUSIP: 690145206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34000 | NS      | $118660.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| OLEMA PHARMACEUTICALS INC                 | OLEMA PHARMACEUTICALS INC                     | CUSIP: 68062P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18000 | NS      | $435600.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIGNMENT HEALTHCARE INC                  | ALIGNMENT HEALTHCARE INC                      | CUSIP: 01625V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30094 | NS      | $578406.68    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| CARIS LIFE SCIENCES INC                   | CARIS LIFE SCIENCES INC                       | CUSIP: 142152107<br>LEI: 549300LX5LO78M5VPY43 | Long             | EC               | CORP              | US        |     40000 | NS      | $805600.00    | 1.32%             |  |  |  | No            |                  1 | On Loan: —       |
| PRIVIA HEALTH GROUP INC                   | PRIVIA HEALTH GROUP INC                       | CUSIP: 74276R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45000 | NS      | $1068750.00   | 1.75%             |  |  |  | No            |                  1 | On Loan: —       |
| CENTESSA PHARMACEUTICALS PLC              | CENTESSA PHARMACEUTICALS LTD ADR              | CUSIP: 152309100<br>LEI: 213800GIDAARDSKOI827 | Long             | EC               | CORP              | GB        |     22800 | NS      | $612408.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCEPT BIOROBOTICS CORP                  | PROCEPT BIOROBOTICS CORP                      | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10651 | NS      | $241671.19    | 0.40%             |  |  |  | No            |                  1 | On Loan: —       |
| LIFESTANCE HEALTH GROUP INC               | LIFESTANCE HEALTH GROUP INC                   | CUSIP: 53228F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    206792 | NS      | $1497174.08   | 2.46%             |  |  |  | No            |                  1 | On Loan: —       |
| DOXIMITY INC                              | DOXIMITY INC                                  | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16000 | NS      | $392480.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| JANUX THERAPEUTICS INC                    | JANUX THERAPEUTICS INC                        | CUSIP: 47103J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18809 | NS      | $255990.49    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| NUVALENT INC                              | NUVALENT INC-A                                | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6000 | NS      | $611700.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| AMYLYX PHARMACEUTICALS INC                | AMYLYX PHARMACEUTICALS INC                    | CUSIP: 03237H101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23554 | NS      | $357314.18    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWAMSTERDAM PHARMA COMPANY NV            | NEWAMSTERDAM PHARMA COMPANY NV                | CUSIP: N/A<br>LEI: 984500B6549TF6E14D36       | Long             | EC               | CORP              | NL        |     10794 | NS      | $382755.24    | 0.63%             |  |  |  | No            |                  1 | On Loan: —       |
| STRUCTURE THERAPEUTICS INC                | STRUCTURE THERAPEUTICS INC ADR                | CUSIP: 86366E106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      7402 | NS      | $466177.96    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| WAYSTAR HOLDING CORP                      | WAYSTAR HOLDING CORP                          | CUSIP: 946784105<br>LEI: 529900QJLKXDYU36MH89 | Long             | EC               | CORP              | US        |     60000 | NS      | $1539000.00   | 2.53%             |  |  |  | No            |                  1 | On Loan: —       |
| ZENAS BIOPHARMA INC                       | ZENAS BIOPHARMA INC                           | CUSIP: 98937L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $263500.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| UPSTREAM BIO INC                          | UPSTREAM BIO INC                              | CUSIP: 91678A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16000 | NS      | $122880.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| KESTRA MEDICAL TECHNOLOGIES INC           | KESTRA MEDICAL TECHNOLOGIES INC               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |     18400 | NS      | $428352.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2026-03-30

**Name of Applicant:** Stacie M. Smith

**Signature:** Stacie M. Smith

**Name of Signer:** Stacie M. Smith

**Title:** President and Treasurer