# EDGAR Filing Document

**Accession Number:** 0000320351
**File Stem:** 0000035402-26-000522
**Filing Date:** 2026-1
**Character Count:** 75053
**Document Hash:** 35181d278786139f68435a6c96f558db
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-26-000522.hdr.sgml**: 20260123

**ACCESSION NUMBER**: 0000035402-26-000522

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260123

**DATE AS OF CHANGE**: 20260123

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY SELECT PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000320351

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03114
- **FILM NUMBER:** 26555476

**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

### Health Care Portfolio (Series ID: S000007466)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000020440 | Health Care Portfolio | FSPHX           |

## Nport-Ex

**Consolidated Quarterly Holdings Report**

**for**

**Fidelity® Select Portfolios®**

**Health Care Portfolio**

**November 30, 2025**

HEA-NPRT3-0126

1.810696.121 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.4%** | &nbsp;&nbsp;**Common Stocks - 98.4%** | &nbsp;&nbsp;**Common Stocks - 98.4%** |
|  | Shares | Value ($)<br>|
| BELGIUM - 2.7%  |  |  |
| Health Care - 2.7% |  |  |
| Pharmaceuticals - 2.7% |  |  |
| UCB SA  | 635000 | 177205751 |
| CANADA - 0.9%  |  |  |
| Health Care - 0.9% |  |  |
| Biotechnology - 0.9% |  |  |
| Xenon Pharmaceuticals Inc (b) | 1286500 | 57532280 |
| DENMARK - 2.4%  |  |  |
| Health Care - 2.4% |  |  |
| Biotechnology - 2.4% |  |  |
| Ascendis Pharma A/S ADR (b) | 740000 | 157124200 |
| Galecto Inc (b)(c)(d) | 160000 | 2844800 |
| TOTAL DENMARK |  | 159969000 |
| FRANCE - 0.5%  |  |  |
| Health Care - 0.5% |  |  |
| Life Sciences Tools & Services - 0.5% |  |  |
| Sartorius Stedim Biotech  | 128000 | 30789191 |
| GERMANY - 0.7%  |  |  |
| Health Care - 0.7% |  |  |
| Biotechnology - 0.7% |  |  |
| BioNTech SE ADR (b)(d) | 430000 | 44354500 |
| JAPAN - 0.1%  |  |  |
| Health Care - 0.1% |  |  |
| Pharmaceuticals - 0.1% |  |  |
| Eisai Co Ltd  | 450000 | 14113657 |
| NETHERLANDS - 4.6%  |  |  |
| Health Care - 4.6% |  |  |
| Biotechnology - 4.3% |  |  |
| Argenx SE ADR (b) | 254000 | 231642920 |
| Newamsterdam Pharma Co NV (b) | 670000 | 27671000 |
| uniQure NV (b) | 900000 | 24759000 |
|  |  | 284072920 |
| Pharmaceuticals - 0.3% |  |  |
| Pharvaris NV (b) | 800000 | 22704000 |
| TOTAL NETHERLANDS |  | 306776920 |
| UNITED KINGDOM - 0.3%  |  |  |
| Health Care - 0.3% |  |  |
| Biotechnology - 0.3% |  |  |
| Immunocore Holdings PLC ADR (b)(d) | 500000 | 19750000 |
| UNITED STATES - 86.2%  |  |  |
| Financials - 0.1% |  |  |
| Financial Services - 0.1% |  |  |
| Saluda Medical Inc (b)(e)(f) | 338170 | 5745508 |
| Saluda Medical Inc depository receipt (e) | 1600000 | 2777836 |
|  |  | 8523344 |
| Health Care - 86.1% |  |  |
| Biotechnology - 28.9% |  |  |
| AbbVie Inc  | 650000 | 148005000 |
| Acumen Pharmaceuticals Inc (b) | 1140000 | 2143200 |
| Alnylam Pharmaceuticals Inc (b) | 405000 | 182748151 |
| Annexon Inc (b) | 1200000 | 5400000 |
| Apogee Therapeutics Inc (b) | 77991 | 5613012 |
| BeOne Medicines Ltd ADR (b)(d) | 90000 | 30654900 |
| Biogen Inc (b) | 118566 | 21589683 |
| Caris Life Sciences Inc (g) | 1729128 | 44144638 |
| Caris Life Sciences Inc (b) | 75400 | 1924962 |
| Celcuity Inc (b) | 47600 | 4814264 |
| Centessa Pharmaceuticals PLC ADR (b) | 1560000 | 45286800 |
| CG oncology Inc (b)(d) | 800000 | 35872000 |
| Cidara Therapeutics Inc (b) | 150000 | 32982000 |
| Cogent Biosciences Inc (b) | 2600000 | 104572000 |
| Cytokinetics Inc (b)(d) | 1020000 | 69492600 |
| CytomX Therapeutics Inc (b) | 3000000 | 12840000 |
| Day One Biopharmaceuticals Inc (b) | 600000 | 5694000 |
| Disc Medicine Inc (b) | 700000 | 65352000 |
| Exact Sciences Corp (b) | 540000 | 54696600 |
| Gilead Sciences Inc  | 740000 | 93121600 |
| Insmed Inc (b) | 269000 | 55890130 |
| Jade Biosciences Inc  | 400000 | 5128000 |
| Janux Therapeutics Inc (b) | 670000 | 22840300 |
| Kiniksa Pharmaceuticals International Plc Class A (b) | 350000 | 14882000 |
| Legend Biotech Corp ADR (b) | 2850000 | 78973500 |
| Mineralys Therapeutics Inc (b) | 750000 | 32340000 |
| Moderna Inc (b) | 1800000 | 46764000 |
| Nuvalent Inc Class A (b) | 738191 | 80721186 |
| Olema Pharmaceuticals Inc (b)(d) | 740000 | 20956800 |
| Oruka Therapeutics Inc (b)(d) | 999710 | 30091271 |
| Oruka Therapeutics Inc (b)(f) | 103500 | 3115350 |
| Praxis Precision Medicines Inc (b) | 228000 | 44792880 |
| Revolution Medicines Inc (b)(d) | 740000 | 57542400 |
| Rezolute Inc (b) | 2800000 | 27216000 |
| Rhythm Pharmaceuticals Inc (b) | 180000 | 19636200 |
| Scholar Rock Holding Corp (b) | 115415 | 5085185 |
| Soleno Therapeutics Inc (b)(d) | 500000 | 25225000 |
| Spyre Therapeutics Inc (b)(d) | 870891 | 26126730 |
| Stoke Therapeutics Inc (b) | 900000 | 27819000 |
| Summit Therapeutics Inc (b)(d) | 1000000 | 17890000 |
| Travere Therapeutics Inc (b) | 280000 | 9914800 |
| Ultragenyx Pharmaceutical Inc (b) | 450000 | 15637500 |
| Upstream Bio Inc (b) | 1280000 | 36608000 |
| Vaxcyte Inc (b) | 950000 | 47129500 |
| Veracyte Inc (b) | 1000000 | 47340000 |
| Viking Therapeutics Inc (b)(d) | 500000 | 18405000 |
| Viridian Therapeutics Inc (b) | 2840000 | 90766400 |
| Zenas Biopharma Inc (b) | 940000 | 36500200 |
| Zenas Biopharma Inc (f) | 160865 | 6246388 |
|  |  | 1918531130 |
| Health Care Equipment & Supplies - 20.7% |  |  |
| Boston Scientific Corp (b) | 4250000 | 431715000 |
| Edwards Lifesciences Corp (b) | 1800000 | 156006000 |
| Insulet Corp (b) | 410000 | 134147900 |
| Intuitive Surgical Inc (b) | 100000 | 57348000 |
| Kestra Medical Technologies Ltd  | 670000 | 18076600 |
| Masimo Corp (b) | 1250000 | 178037500 |
| Medical Microinstruments Inc/Italy warrants 2/16/2031 (b)(e)(f) | 15815 | 191361 |
| Outset Medical Inc (b)(c) | 1520000 | 6931200 |
| Penumbra Inc (b) | 1000000 | 293170000 |
| PROCEPT BioRobotics Corp (b)(d) | 80000 | 2534400 |
| Shoulder Innovations Inc (f)(g) | 448586 | 6926168 |
| Shoulder Innovations Inc  | 96700 | 1493048 |
| Stryker Corp  | 260000 | 96506800 |
|  |  | 1383083977 |
| Health Care Providers & Services - 8.6% |  |  |
| Alignment Healthcare Inc (b) | 85160 | 1635924 |
| Astrana Health Inc (b) | 500000 | 11520000 |
| BrightSpring Health Services Inc (b) | 2280000 | 82444800 |
| Cigna Group/The  | 185000 | 51296800 |
| CVS Health Corp  | 2180000 | 175184800 |
| LifeStance Health Group Inc (b) | 3400000 | 22100000 |
| Molina Healthcare Inc (b) | 100000 | 14826000 |
| Omada Health Inc (g) | 717691 | 13442352 |
| Privia Health Group Inc (b) | 2280000 | 55563600 |
| Surgery Partners Inc (b)(d) | 900000 | 15363000 |
| UnitedHealth Group Inc  | 400000 | 131908000 |
|  |  | 575285276 |
| Health Care Technology - 3.4% |  |  |
| HeartFlow Inc (g) | 636013 | 20511419 |
| Phreesia Inc (b) | 423647 | 8680527 |
| Veeva Systems Inc Class A (b) | 575000 | 138166750 |
| Waystar Holding Corp (b) | 1600000 | 59056000 |
|  |  | 226414696 |
| Life Sciences Tools & Services - 11.6% |  |  |
| 10X Genomics Inc Class A (b) | 1920000 | 36115200 |
| 10X Genomics Inc Class B (b)(h) | 500000 | 9405000 |
| Danaher Corp  | 1840000 | 417275200 |
| IQVIA Holdings Inc (b) | 500000 | 115005000 |
| Repligen Corp (b) | 400700 | 68527714 |
| Thermo Fisher Scientific Inc  | 218000 | 128800940 |
|  |  | 775129054 |
| Pharmaceuticals - 12.9% |  |  |
| Amylyx Pharmaceuticals Inc (b) | 1420000 | 21271600 |
| Axsome Therapeutics Inc (b) | 100000 | 15150000 |
| Contineum Therapeutics Inc Class A (b) | 450000 | 4981500 |
| Crinetics Pharmaceuticals Inc (b) | 1300107 | 59232875 |
| Eli Lilly & Co  | 400000 | 430188000 |
| Enliven Therapeutics Inc (b)(d) | 1280000 | 27648000 |
| Johnson & Johnson  | 500000 | 103460000 |
| Merck & Co Inc  | 700000 | 73381000 |
| Ocular Therapeutix Inc (b) | 398997 | 4847813 |
| Rapport Therapeutics Inc (b) | 285000 | 8467350 |
| Royalty Pharma PLC Class A  | 1750000 | 70035000 |
| Structure Therapeutics Inc ADR (b) | 560000 | 20053600 |
| WaVe Life Sciences Ltd (b) | 2950000 | 22892000 |
|  |  | 861608738 |
| TOTAL HEALTH CARE |  | 5740052871 |
| TOTAL UNITED STATES |  | 5748576215 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $3,751,850,656) |  | <br> **6559067514** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Corporate Bonds - 0.1%** | &nbsp;&nbsp;**Convertible Corporate Bonds - 0.1%** | &nbsp;&nbsp;**Convertible Corporate Bonds - 0.1%** |
|  | Principal<br> Amount (a)<br>| Value ($)<br>|
| UNITED STATES - 0.1%  |  |  |
| Health Care - 0.1% |  |  |
| Health Care Equipment & Supplies - 0.1% |  |  |
| Kardium Inc/Us 10% 12/31/2026 (e)(f) | 3900142 | 4584617 |
| Health Care Technology - 0.0% |  |  |
| Wugen Inc 0% 12/31/2199 (e)(f)(i) | 2299153 | 2436183 |
| Pharmaceuticals - 0.0% |  |  |
| Galvanize Therapeutics 10% 2/28/2027 (e)(f) | 1748893 | 2234559 |
| TOTAL HEALTH CARE |  | 9255359 |
| <br> **TOTAL CONVERTIBLE CORPORATE BONDS**<br> (Cost $8,913,289) |  | <br> **9255359** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 1.4%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 1.4%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 1.4%** |
|  | Shares | Value ($)<br>|
| CHINA - 0.0%  |  |  |
| Health Care - 0.0% |  |  |
| Health Care Providers & Services - 0.0% |  |  |
| dMed Biopharmaceutical Co Ltd Series C (b)(e)(f) | 330316 | 2635922 |
| DENMARK - 0.0%  |  |  |
| Health Care - 0.0% |  |  |
| Biotechnology - 0.0% |  |  |
| Galecto Inc Series C (c) | 100 | 1777999 |
| ISRAEL - 0.1%  |  |  |
| Health Care - 0.1% |  |  |
| Health Care Equipment & Supplies - 0.1% |  |  |
| InSightec Ltd Series G (b)(e)(f) | 11853768 | 8297638 |
| UNITED STATES - 1.3%  |  |  |
| Health Care - 1.2% |  |  |
| Biotechnology - 0.6% |  |  |
| Asimov Inc Series B (b)(e)(f) | 101438 | 2802732 |
| Cleerly Inc Series C (b)(e)(f) | 1285367 | 16092795 |
| Element Biosciences Inc Series C (b)(e)(f) | 572265 | 4320601 |
| Element Biosciences Inc Series D (b)(e)(f) | 413355 | 1922100 |
| Element Biosciences Inc Series D1 (b)(e)(f) | 413355 | 1922101 |
| ElevateBio LLC Series C (b)(e)(f) | 254900 | 486859 |
| Endeavor BioMedicines Inc Series C (b)(e)(f) | 1366212 | 8907702 |
|  |  | 36454890 |
| Health Care Equipment & Supplies - 0.3% |  |  |
| Kardium Inc/Us Series D-7 (e) | 15888877 | 9056660 |
| Kardium Inc/Us Series D-7 (e)(f) | 3477566 | 1982213 |
| Kardium Inc/Us Series D-7 (e) | 723517 | 419639 |
| Medical Microinstruments Inc/Italy Series C (b)(e)(f) | 316310 | 10694441 |
|  |  | 22152953 |
| Health Care Providers & Services - 0.0% |  |  |
| Thriveworks Topco LLC Class B (b)(e)(f)(j) | 473270 | 1391414 |
| Health Care Technology - 0.2% |  |  |
| Aledade Inc Series B1 (b)(e)(f) | 201220 | 6742882 |
| Aledade Inc Series E1 (b)(e)(f) | 56664 | 1898811 |
| Candid Therapeutics Series B (b)(e)(f) | 3162302 | 3320417 |
| Wugen Inc Series B (b)(e)(f) | 454342 | 722404 |
|  |  | 12684514 |
| Pharmaceuticals - 0.1% |  |  |
| Galvanize Therapeutics Series B (b)(e)(f) | 3696429 | 2661429 |
| Galvanize Therapeutics Series C-1 (e)(f) | 5823768 | 2562458 |
|  |  | 5223887 |
| TOTAL HEALTH CARE |  | 77907658 |
| Materials - 0.1% |  |  |
| Chemicals - 0.1% |  |  |
| Manus Bio Inc Series One-6 (e)(f) | 1079396 | 3896620 |
| TOTAL UNITED STATES |  | 81804278 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $140,130,545) |  | <br> **94515837** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 3.0%** | &nbsp;&nbsp;**Money Market Funds - 3.0%** | &nbsp;&nbsp;**Money Market Funds - 3.0%** | &nbsp;&nbsp;**Money Market Funds - 3.0%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (k) | 4.02 | 3684279 | 3685016 |
| Fidelity Securities Lending Cash Central Fund (k)(l) | 4.02 | 195573075 | 195592632 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $199,275,898) |  |  | **199277648** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 102.9%**<br> (Cost $4,100,170,388)<br>| <br>**6862116358** |
| **NET OTHER ASSETS (LIABILITIES) - (2.9)%**  | **(190965216)** |
| **NET ASSETS - 100.0%** | **6671151142** |

---

**Legend**

(a) Amount is stated in United States dollars unless otherwise noted.

(b) Non-income producing.

(c) Affiliated company.

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

(e) Level 3 security.

(f) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $114,741,673 or 1.7% of net assets.

(g) Security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted market price of the equivalent equity security. At the end of the period, the total value of unadjusted equity securities subject to contractual sale restrictions is $85,024,577 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.

(h) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $9,405,000 or 0.1% of net assets.

(i) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(j) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.

(k) 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.

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

At period end, the value of non-cash collateral for securities on loan amounted to $24,335,421.

---

| | | |
|:---|:---|:---|
| Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: |
| Security | Acquisition Date | Acquisition Cost ($)<br>|
| Aledade Inc Series B1 | 5/7/2021 | 7704855 |
| Aledade Inc Series E1 | 5/20/2022 | 2822683 |
| Asimov Inc Series B | 10/29/2021 | 9401345 |
| Candid Therapeutics Series B | 8/27/2024 | 3794762 |
| Cleerly Inc Series C | 7/8/2022 | 15142394 |
| dMed Biopharmaceutical Co Ltd Series C | 12/1/2020 | 4691527 |
| Element Biosciences Inc Series C | 6/21/2021 | 11763881 |
| Element Biosciences Inc Series D | 6/28/2024 | 3242067 |
| Element Biosciences Inc Series D1 | 6/28/2024 | 3242067 |
| ElevateBio LLC Series C | 3/9/2021 | 1069306 |
| Endeavor BioMedicines Inc Series C | 4/22/2024 | 8913987 |
| Galvanize Therapeutics 10% 2/28/2027 | 7/7/2025 | 2234559 |
| Galvanize Therapeutics Series B | 3/29/2022 | 6399572 |
| Galvanize Therapeutics Series C-1 | 7/7/2025 | 2562458 |
| InSightec Ltd Series G | 6/17/2024 | 10523775 |
| Kardium Inc/Us 10% 12/31/2026 | 5/31/2024 - 10/1/2025 | 4379577 |
| Kardium Inc/Us Series D-7 | 8/6/2024 | 1688115 |
| Manus Bio Inc Series One-6 | 3/30/2021 | 11322073 |
| Medical Microinstruments Inc/Italy Series C | 2/16/2024 | 10543783 |
| Medical Microinstruments Inc/Italy warrants 2/16/2031 | 2/16/2024 | 0 |
| Oruka Therapeutics Inc | 9/17/2025 | 1552500 |
| Saluda Medical Inc | 4/6/2023 - 10/30/2025 | 12842140 |
| Shoulder Innovations Inc | 7/18/2025 | 6398000 |
| Thriveworks Topco LLC Class B | 7/23/2021 - 2/25/2022 | 13584368 |
| Wugen Inc 0% 12/31/2199 | 6/14/2024 | 2299153 |
| Wugen Inc Series B | 7/9/2021 | 3523377 |
| Zenas Biopharma Inc | 10/8/2025 | 3056435 |

---

---

| | |
|:---|:---|
| Additional information on each lock-up restriction is as follows: | Additional information on each lock-up restriction is as follows: |
| Security | Restriction Expiration Date |
| Caris Life Sciences Inc | 12/15/2025 |
| HeartFlow Inc | 2/4/2026 |
| Omada Health Inc | 12/3/2025 |
| Shoulder Innovations Inc | 1/27/2026 |

---

**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 | 13904113 | 891904695 | 902123048 | 870903 | (744) | - | 3685016 | 3684279 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 56507844 | 691364326 | 552279996 | 768928 | 458 | - | 195592632 | 195573075 | 0.7% |
| Total | 70411957 | 1583269021 | 1454403044 | 1639831 | (286) | - | 199277648 |  |  |

---

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.

**Other Affiliated Issuers**

An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are presented in the table below. Certain corporate actions, such as mergers, are excluded from the amounts in this table if applicable. A dash in the Value end of period ($) and Shares end of period columns means either the issuer is no longer held at period end, or the issuer is held at period end but is no longer an affiliate.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 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  |
| Galecto Inc | - | 3366374 | - | - | - | (521574) | 2844800 | 160000 |
| Outset Medical Inc | - | 2532278 | - | - | - | (11595878) | 6931200 | 1520000 |
| Total | - | 5898652 | - | - | - | (12117452) | 9776000 |  |

---

**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.

Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Convertible Corporate Bonds are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

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 consolidated 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 Select Portfolios

- **b. Investment Company Act file number:** 811-03114

- **c. CIK number of Registrant:** 0000320351

- **d. LEI of Registrant:** Z57125JG1LHEQKDYS630

- **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:** Select Health Care Portfolio

- **b. EDGAR series identifier (if any):** S000007466

- **c. LEI of Series:** I3SBCDEPIC5NBQILUV22

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-11-30

**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:** $6861887761.80

**Total Liabilities:** $189339599.27

**Net Assets:** $6672548162.53

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000020440 | 3.12%                | 5.72%                | 8.31%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3113670.69              | $178914500.59                              |
| Month 2  | $99065682.80             | $240568237.81                              |
| Month 3  | $164377149.54            | $351022237.77                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ORUKA THERAPEUTICS INC                    | ORUKA THERAPEUTICS INC                                 | CUSIP: 687604108<br>LEI: 529900TG7O4ESUDMGI54 | Long             | EC               | CORP              | US        |    999710 | NS      | $30091271.00  | 0.45%             |  |  |  | No            |                  1 | On Loan: —       |
| ABBVIE INC                                | ABBVIE INC                                             | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    650000 | NS      | $148005000.00 | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ALNYLAM PHARMACEUTICALS INC               | ALNYLAM PHARMACEUTICALS INC                            | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |    405000 | NS      | $182748150.00 | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| REZOLUTE INC                              | REZOLUTE INC                                           | CUSIP: 76200L309<br>LEI: 549300T05L48T72P2G08 | Long             | EC               | CORP              | US        |   2800000 | NS      | $27216000.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRANA HEALTH INC                        | ASTRANA HEALTH INC                                     | CUSIP: 03763A207<br>LEI: 5493008O4R82Q4STJ936 | Long             | EC               | CORP              | US        |    500000 | NS      | $11520000.00  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ASCENDIS PHARMA A/S                       | ASCENDIS PHARMA AS SPON ADR                            | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |    740000 | NS      | $157124200.00 | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| AXSOME THERAPEUTICS INC                   | AXSOME THERAPEUTICS INC                                | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |    100000 | NS      | $15150000.00  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOGEN INC                                | BIOGEN INC                                             | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |    116266 | NS      | $21170875.94  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON SCIENTIFIC CORP                    | BOSTON SCIENTIFIC CORP                                 | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |   4250000 | NS      | $431715000.00 | 6.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORP                           | CVS HEALTH CORP                                        | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |   2180000 | NS      | $175184800.00 | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| SOLENO THERAPEUTICS INC                   | SOLENO THERAPEUTICS INC                                | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |    500000 | NS      | $25225000.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: —       |
| CIDARA THERAPEUTICS INC                   | CIDARA THERAPEUTICS INC                                | CUSIP: 171757206<br>LEI: 549300IHQ9Z7RI1X2D22 | Long             | EC               | CORP              | US        |    150000 | NS      | $32982000.00  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CYTOKINETICS INC                          | CYTOKINETICS INC                                       | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |   1020000 | NS      | $69492600.00  | 1.04%             |  |  |  | No            |                  1 | On Loan: —       |
| CYTOMX THERAPEUTICS INC                   | CYTOMX THERAPEUTICS INC                                | CUSIP: 23284F105<br>LEI: 5493004VW2FW0QLL3345 | Long             | EC               | CORP              | US        |   3000000 | NS      | $12840000.00  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORP                              | DANAHER CORP                                           | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |   1840000 | NS      | $417275200.00 | 6.25%             |  |  |  | No            |                  1 | On Loan: No      |
| EDWARDS LIFESCIENCES CORP                 | EDWARDS LIFESCIENCES CORP                              | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |   1800000 | NS      | $156006000.00 | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| EISAI CO LTD                              | EISAI CO LTD                                           | CUSIP: N/A<br>LEI: 353800HDEE0ZYEX4QV91       | Long             | EC               | CORP              | JP        |    450000 | NS      | $14113657.01  | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| EXACT SCIENCES CORP                       | EXACT SCIENCES CORP                                    | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |    600000 | NS      | $60774000.00  | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust              | Fidelity Cash Central Fund                             | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  19121117 | NS      | $19124940.96  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust              | Fidelity Securities Lending Cash Central Fund          | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        | 185005580 | NS      | $185024080.35 | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| GILEAD SCIENCES INC                       | GILEAD SCIENCES INC                                    | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |    740000 | NS      | $93121600.00  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| INSMED INC                                | INSMED INC                                             | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |    269000 | NS      | $55890130.00  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| INSULET CORP                              | INSULET CORP                                           | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |    410000 | NS      | $134147900.00 | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUITIVE SURGICAL INC                    | INTUITIVE SURGICAL INC                                 | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |    100000 | NS      | $57348000.00  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON and JOHNSON                       | JOHNSON and JOHNSON                                    | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    500000 | NS      | $103460000.00 | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY and CO                          | ELI LILLY and CO                                       | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    400000 | NS      | $430188000.00 | 6.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MASIMO CORP                               | MASIMO CORP                                            | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |   1250000 | NS      | $178037500.00 | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK and CO INC                          | MERCK and CO INC NEW                                   | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    700000 | NS      | $73381000.00  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MOLINA HEALTHCARE INC                     | MOLINA HEALTHCARE INC                                  | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |    100000 | NS      | $14826000.00  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIQURE N.V.                              | UNIQURE N.V.                                           | CUSIP: N/A<br>LEI: 724500RPCTZLFYJZ3S98       | Long             | EC               | CORP              | NL        |    900000 | NS      | $24759000.00  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| OCULAR THERAPEUTIX INC                    | OCULAR THERAPEUTIX INC                                 | CUSIP: 67576A100<br>LEI: 529900ABAWFXOHSIHG03 | Long             | EC               | CORP              | US        |    398997 | NS      | $4847813.55   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PENUMBRA INC                              | PENUMBRA INC                                           | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |   1000000 | NS      | $293170000.00 | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA HOLDINGS INC                        | IQVIA HOLDINGS INC                                     | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |    500000 | NS      | $115005000.00 | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| REPLIGEN CORP                             | REPLIGEN                                               | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |    400700 | NS      | $68527714.00  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| TRAVERE THERAPEUTICS INC                  | TRAVERE THERAPEUTICS INC                               | CUSIP: 89422G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    280000 | NS      | $9914800.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| WAVE LIFE SCIENCES LTD                    | WAVE LIFE SCIENCES LTD                                 | CUSIP: N/A<br>LEI: 54930070006GPKFYZ813       | Long             | EC               | CORP              | SG        |   2950000 | NS      | $22892000.00  | 0.34%             |  |  |  | No            |                  1 | On Loan: —       |
| VIRIDIAN THERAPEUTICS INC                 | VIRIDIAN THERAPEUTICS INC                              | CUSIP: 92790C104<br>LEI: 549300C775BNYF550E70 | Long             | EC               | CORP              | US        |   2840000 | NS      | $90766400.00  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| SARTORIUS STEDIM BIOTECH                  | SARTORIUS STEDIM BIOTECH                               | CUSIP: N/A<br>LEI: 52990006IVXY7GCSSR39       | Long             | EC               | CORP              | FR        |    128000 | NS      | $30789190.93  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| STRYKER CORP                              | STRYKER CORP                                           | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |    260000 | NS      | $96506800.00  | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| SURGERY PARTNERS INC                      | SURGERY PARTNERS INC                                   | CUSIP: 86881A100<br>LEI: 549300LC82HG33S19I03 | Long             | EC               | CORP              | US        |    900000 | NS      | $15363000.00  | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| THERMO FISHER SCIENTIFIC INC              | THERMO FISHER SCIENTIFIC INC                           | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |    218000 | NS      | $128800940.00 | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ULTRAGENYX PHARMACEUTICAL INC             | ULTRAGENYX PHARMA INC                                  | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |    450000 | NS      | $15637500.00  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC                    | UNITEDHEALTH GROUP INC                                 | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    400000 | NS      | $131908000.00 | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                    | UCB SA                                                 | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |    635000 | NS      | $177205750.50 | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| VEEVA SYS INC                             | VEEVA SYS INC CL A                                     | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |    575000 | NS      | $138166750.00 | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| VERACYTE INC                              | VERACYTE INC                                           | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |   1000000 | NS      | $47340000.00  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| VIKING THERAPEUTICS INC                   | VIKING THERAPEUTICS INC                                | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |    500000 | NS      | $18405000.00  | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| XENON PHARMACEUTICALS INC                 | XENON PHARMACEUTICALS INC                              | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |   1286500 | NS      | $57532280.00  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| BEONE MEDICINES LTD                       | BEONE MEDICINES LTD ADR                                | CUSIP: 07725L102<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | CH        |     90000 | NS      | $30654900.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: —       |
| 10X GENOMICS INC                          | 10X GENOMICS INC                                       | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |   1920000 | NS      | $36115200.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| SPYRE THERAPEUTICS INC                    | SPYRE THERAPEUTICS INC                                 | CUSIP: 00773J202<br>LEI: 52990017AIJPRH3HQH40 | Long             | EC               | CORP              | US        |    870891 | NS      | $26126730.00  | 0.39%             |  |  |  | No            |                  1 | On Loan: —       |
| MODERNA INC                               | MODERNA INC                                            | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |   1690000 | NS      | $43906200.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ARGENX SE                                 | ARGENX SE SPONSORED ADR                                | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |    254000 | NS      | $231642920.00 | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CELCUITY INC                              | CELCUITY INC                                           | CUSIP: 15102K100<br>LEI: 25490070W7UU7W2SEY87 | Long             | EC               | CORP              | US        |     47600 | NS      | $4814264.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| RHYTHM PHARMACEUTICALS INC                | RHYTHM PHARMACEUTICALS INC                             | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |    180000 | NS      | $19636200.00  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| KINIKSA PHARMACEUTICALS INTERNATIONAL PLC | KINIKSA PHARMACEUTICALS INTERNATIONAL PLC              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |    350000 | NS      | $14882000.00  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| COGENT BIOSCIENCES INC                    | COGENT BIOSCIENCES INC                                 | CUSIP: 19240Q201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2600000 | NS      | $104572000.00 | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHOLAR ROCK HOLDING CORP                 | SCHOLAR ROCK HOLDING CORP                              | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |    115415 | NS      | $5085184.90   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CRINETICS PHARMACEUTICALS INC             | CRINETICS PHARMACEUTICALS INC                          | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |   1300107 | NS      | $59232874.92  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA GROUP (THE)                         | CIGNA GROUP (THE)                                      | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |    185000 | NS      | $51296800.00  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| REVOLUTION MEDICINES INC                  | REVOLUTION MEDICINES INC                               | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |    740000 | NS      | $57542400.00  | 0.86%             |  |  |  | No            |                  1 | On Loan: —       |
| STOKE THERAPEUTICS INC                    | STOKE THERAPEUTICS INC                                 | CUSIP: 86150R107<br>LEI: 549300RD25SS2DIJHJ67 | Long             | EC               | CORP              | US        |    900000 | NS      | $27819000.00  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PHREESIA INC                              | PHREESIA INC                                           | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |    426447 | NS      | $8737899.03   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BIONTECH SE                               | BIONTECH SE ADR                                        | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |    430000 | NS      | $44354500.00  | 0.66%             |  |  |  | No            |                  1 | On Loan: —       |
| ENLIVEN THERAPEUTICS INC                  | ENLIVEN THERAPEUTICS INC                               | CUSIP: 29337E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1280000 | NS      | $27648000.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: —       |
| MIND MEDICINE MINDMED INC                 | MIND MEDICINE MINDMED INC                              | CUSIP: 60255C885<br>LEI: 529900UG3DGE202N5D44 | Long             | EC               | CORP              | CA        |     29843 | NS      | $377513.95    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| 10X GENOMICS INC                          | 10X GENOMICS INC CL B 144A                             | CUSIP: N/A<br>LEI: 5493003Z6741WNLG7H43       | Long             | EC               | CORP              | US        |    500000 | NS      | $9405000.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGEND BIOTECH CORP                       | LEGEND BIOTECH CORP SPON ADR                           | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | KY        |   2850000 | NS      | $78973500.00  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| VAXCYTE INC                               | VAXCYTE INC                                            | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |    950000 | NS      | $47129500.00  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYALTY PHARMA PLC                        | ROYALTY PHARMA PLC                                     | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | GB        |   1750000 | NS      | $70035000.00  | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNEXON INC                               | ANNEXON INC                                            | CUSIP: 03589W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1200000 | NS      | $5400000.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DISC MEDICINE INC                         | DISC MEDICINE INC                                      | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    700000 | NS      | $65352000.00  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| OUTSET MEDICAL INC                        | OUTSET MEDICAL INC                                     | CUSIP: 690145206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1520000 | NS      | $6931200.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMMIT THERAPEUTICS INC                   | SUMMIT THERAPEUTICS INC                                | CUSIP: 86627T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1000000 | NS      | $17890000.00  | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| PRAXIS PRECISION MEDICINES INC.           | PRAXIS PRECISION MEDICINES INC                         | CUSIP: 74006W207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    228000 | NS      | $44792880.00  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| GALECTO INC                               | GALECTO INC                                            | CUSIP: 36322Q206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    160000 | NS      | $2844800.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| DMED BIOPHARMACEUTICAL CO LTD             | DMED BIOPHARMACEUTICAL CO LTD SER C PC PP              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | CN        |    330316 | NS      | $2635921.68   | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OLEMA PHARMACEUTICALS INC                 | OLEMA PHARMACEUTICALS INC                              | CUSIP: 68062P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    740000 | NS      | $20956800.00  | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| PHARVARIS BV                              | PHARVARIS BV                                           | CUSIP: N/A<br>LEI: 9845003BE146D3B75D32       | Long             | EC               | CORP              | NL        |    800000 | NS      | $22704000.00  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| IMMUNOCORE HOLDINGS PLC                   | IMMUNOCORE HOLDINGS LTD ADR                            | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |    500000 | NS      | $19750000.00  | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| ALIGNMENT HEALTHCARE INC                  | ALIGNMENT HEALTHCARE INC                               | CUSIP: 01625V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     82560 | NS      | $1585977.60   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVATEBIO, LLC                           | ELEVATEBIO LLC SER C PC PP                             | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    254900 | NS      | $486859.00    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CARIS LIFE SCIENCES INC                   | CARIS LIFE SCIENCES INC                                | CUSIP: 142152107<br>LEI: 549300LX5LO78M5VPY43 | Long             | EC               | CORP              | US        |     75400 | NS      | $1924962.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| PRIVIA HEALTH GROUP INC                   | PRIVIA HEALTH GROUP INC                                | CUSIP: 74276R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2280000 | NS      | $55563600.00  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTESSA PHARMACEUTICALS PLC              | CENTESSA PHARMACEUTICALS LTD ADR                       | CUSIP: 152309100<br>LEI: 213800GIDAARDSKOI827 | Long             | EC               | CORP              | GB        |   1560000 | NS      | $45286800.00  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCEPT BIOROBOTICS CORP                  | PROCEPT BIOROBOTICS CORP                               | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80000 | NS      | $2534400.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| ALEDADE INC                               | ALEDADE INC SER B1 PC PP                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    201220 | NS      | $6742882.20   | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DAY ONE BIOPHARMACEUTICALS INC            | DAY ONE BIOPHARMACEUTICALS INC                         | CUSIP: 23954D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    600000 | NS      | $5694000.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| JADE BIOSCIENCES INC                      | JADE BIOSCIENCES INC                                   | CUSIP: 008064206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    400000 | NS      | $5128000.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LIFESTANCE HEALTH GROUP INC               | LIFESTANCE HEALTH GROUP INC                            | CUSIP: 53228F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3400000 | NS      | $22100000.00  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| JANUX THERAPEUTICS INC                    | JANUX THERAPEUTICS INC                                 | CUSIP: 47103J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    670000 | NS      | $22840300.00  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ACUMEN PHARMACEUTICALS INC                | ACUMEN PHARMACEUTICALS INC                             | CUSIP: 00509G209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1140000 | NS      | $2143200.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEMENT BIOSCIENCES INC                   | ELEMENT BIOSCIENCES INC SER C PC PP                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    572265 | NS      | $4320600.75   | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WUGEN INC                                 | WUGEN INC SER B PC PP                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    454342 | NS      | $722403.78    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NUVALENT INC                              | NUVALENT INC-A                                         | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    738191 | NS      | $80721185.85  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| HEAL THRIVE HOLDINGS LLC                  | HEAL THRIVE HOLDINGS LLC PP                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    473270 | NS      | $1391413.80   | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ASIMOV INC                                | ASIMOV INC SER B PC PP                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    101438 | NS      | $2802731.94   | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BRIGHTSPRING HEALTH SERVICES INC          | BRIGHTSPRING HEALTH SERVICES INC                       | CUSIP: 10950A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2280000 | NS      | $82444800.00  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| AMYLYX PHARMACEUTICALS INC                | AMYLYX PHARMACEUTICALS INC                             | CUSIP: 03237H101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1420000 | NS      | $21271600.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| GALVANIZE THERAPEUTICS                    | GALVANIZE THERAPEUTICS SER B PC PERP PP                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   3696429 | NS      | $2661428.88   | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ALEDADE INC                               | ALEDADE INC SER E1 PC PP                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     56664 | NS      | $1898810.64   | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CLEERLY INC                               | CLEERLY INC SER C PC PP                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   1285367 | NS      | $16092794.84  | 0.24%             |  |  |  | Yes           |                  3 | On Loan: No      |
| NEWAMSTERDAM PHARMA COMPANY NV            | NEWAMSTERDAM PHARMA COMPANY NV                         | CUSIP: N/A<br>LEI: 984500B6549TF6E14D36       | Long             | EC               | CORP              | NL        |    670000 | NS      | $27671000.00  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| STRUCTURE THERAPEUTICS INC                | STRUCTURE THERAPEUTICS INC ADR                         | CUSIP: 86366E106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    560000 | NS      | $20053600.00  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MINERALYS THERAPEUTICS INC                | MINERALYS THERAPEUTICS INC                             | CUSIP: 603170101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    750000 | NS      | $32340000.00  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SALUDA MEDICAL INC                        | SALUDA MEDICAL INC PP                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    338170 | NS      | $5745508.30   | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| APOGEE THERAPEUTICS INC                   | APOGEE THERAPEUTICS INC                                | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     77991 | NS      | $5613012.27   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RAPPORT THERAPEUTICS INC                  | RAPPORT THERAPEUTICS INC                               | CUSIP: 75383L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    285000 | NS      | $8467350.00   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| WAYSTAR HOLDING CORP                      | WAYSTAR HOLDING CORP                                   | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1600000 | NS      | $59056000.00  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CG ONCOLOGY INC                           | CG ONCOLOGY INC                                        | CUSIP: 156944100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    800000 | NS      | $35872000.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: —       |
| MEDICAL MICROINSTRUMENTS INC              | MEDICAL MICROINSTRUMENTS INC SER C PC PP               | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    316310 | NS      | $10694441.10  | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MEDICAL MICROINSTRUMENTS INC              | MEDICAL MICROINSTRUMENTS INC WT 02/16/2031 PP          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     15815 | NS      | $191361.50    | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CONTINEUM THERAPEUTICS INC                | CONTINEUM THERAPEUTICS INC CL A                        | CUSIP: 21217B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    450000 | NS      | $4981500.00   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ORUKA THERAPEUTICS INC                    | ORUKA THERAPEUTICS INC PIPE                            | CUSIP: N/A<br>LEI: 529900TG7O4ESUDMGI54       | Long             | EC               | CORP              | US        |    103500 | NS      | $3115350.00   | 0.05%             |  |  |  | Yes           |                  1 | On Loan: No      |
| ENDEAVOR BIOMEDICINES INC                 | ENDEAVOR BIOMEDICINES INC SERIES C PC PP               | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   1366212 | NS      | $8907702.24   | 0.13%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INSIGHTEC LTD                             | INSIGHTEC LTD SER G PC PP                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | IL        |  11853768 | NS      | $8297637.60   | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| WUGEN INC                                 | WUGEN INC CONV 0% 12/31/2199 P/P                       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   2299153 | PA      | $2436182.52   | 0.04%             | 2199-12-31      | Variable      | 0.00%                 | Yes           |                  3 | On Loan: No      |
| ELEMENT BIOSCIENCES INC                   | ELEMENT BIOSCIENCES INC SER D PC PP                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    413355 | NS      | $1922100.75   | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ELEMENT BIOSCIENCES INC                   | ELEMENT BIOSCIENCES INC SER D1 PC PP                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    413355 | NS      | $1922100.75   | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CANDID THERAPEUTICS                       | CANDID THERAPEUTICS INC SER B PC PP                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   3162302 | NS      | $3320417.10   | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ZENAS BIOPHARMA INC                       | ZENAS BIOPHARMA INC                                    | CUSIP: 98937L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    940000 | NS      | $36500200.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: —       |
| UPSTREAM BIO INC                          | UPSTREAM BIO INC                                       | CUSIP: 91678A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1280000 | NS      | $36608000.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| KESTRA MEDICAL TECHNOLOGIES INC           | KESTRA MEDICAL TECHNOLOGIES INC                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |    670000 | NS      | $18076600.00  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| MANUS BIO INC                             | MANUS BIO INC SER ONE-6 PC PP                          | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   1079396 | NS      | $3896619.56   | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| OMADA HEALTH INC                          | OMADA HEALTH INC (180 DAY LOCK-UP)                     | CUSIP: N/A<br>LEI: 5299008WYNYU33NFKF88       | Long             | EC               | CORP              | US        |    717691 | NS      | $13442352.43  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| CARIS LIFE SCIENCES INC                   | CARIS LIFE SCIENCES INC (180 DAY LOCK-UP)              | CUSIP: N/A<br>LEI: 549300LX5LO78M5VPY43       | Long             | EC               | CORP              | US        |   1729128 | NS      | $44144637.84  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| GALVANIZE THERAPEUTICS                    | GALVANIZE THERAPEUTICS SER C-1 PC PERP PP              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   5823768 | NS      | $2562457.92   | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GALVANIZE THERAPEUTICS                    | GALVANIZE THERAPEUTICS CONV 10% 02/28/2027 P/P         | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   1748893 | PA      | $2234560.11   | 0.03%             | 2027-02-28      | Fixed         | 0.10%                 | Yes           |                  3 | On Loan: No      |
| SHOULDER INNOVATIONS INC                  | SHOULDER INNOVATIONS INC                               | CUSIP: 82537J108<br>LEI: 529900LTH37ALD2K7437 | Long             | EC               | CORP              | US        |     96700 | NS      | $1493048.00   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SHOULDER INNOVATIONS INC                  | SHOULDER INNOVATIONS INC(180 Day Lockup)               | CUSIP: N/A<br>LEI: 529900LTH37ALD2K7437       | Long             | EC               | CORP              | US        |    448586 | NS      | $6926167.84   | 0.10%             |  |  |  | Yes           |                  1 | On Loan: No      |
| KARDIUM INC/US                            | KARDIUM INC US CONV 10% 12/31/2026 PP                  | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   3900142 | PA      | $4584616.83   | 0.07%             | 2026-12-31      | Fixed         | 0.10%                 | Yes           |                  3 | On Loan: No      |
| KARDIUM INC/US                            | KARDIUM INC US SRE D-7 PC PP (2ND CLOSING JUNE 2025)   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   3477566 | NS      | $1982212.62   | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KARDIUM INC/US                            | KARDIUM INC US SRE D-7 PC PP (1ST CLOSING JUNE 2025)   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    723517 | NS      | $419639.86    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| KARDIUM INC/US                            | KARDIUM SRE D-7 PC PP (REDOMICILE CLOSING AUGUST 2025) | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |  15888877 | NS      | $9056659.89   | 0.14%             |  |  |  | No            |                  3 | On Loan: No      |
| HEARTFLOW INC                             | HEARTFLOW INC (180 DAY LOCK-UP)                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    636013 | NS      | $20511419.25  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ZENAS BIOPHARMA INC                       | ZENAS BIOPHARMA INC PIPE                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    160865 | NS      | $6246387.95   | 0.09%             |  |  |  | Yes           |                  1 | On Loan: No      |
| SALUDA MEDICAL INC                        | SALUDA MEDICAL INC CDI                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   1600000 | NS      | $2777836.00   | 0.04%             |  |  |  | No            |                  3 | On Loan: No      |
| GALECTO INC                               | DAMORA THERAPEUTICS SER C PC PIPE                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       100 | NS      | $1778000.00   | 0.03%             |  |  |  | Yes           |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

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

**Signature:** Stacie M. Smith

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

**Title:** President and Treasurer