# EDGAR Filing Document

**Accession Number:** 0000320351
**File Stem:** 0001752724-23-014731
**Filing Date:** 2023-1
**Character Count:** 40590
**Document Hash:** 45e0f8060fd4ca6f3dcafa45cc9d00d9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-014731.hdr.sgml**: 20230126

**ACCESSION NUMBER**: 0001752724-23-014731

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230126

**DATE AS OF CHANGE**: 20230126

**PERIOD START**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY SELECT PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000320351
- **IRS NUMBER:** 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:** 23556588

**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

### Pharmaceuticals Portfolio (Series ID: S000007481)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000020455 | Pharmaceuticals Portfolio | FPHAX           |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity**<sup>®</sup> **Select Portfolios**<sup>®</sup>

**Pharmaceuticals Portfolio**

**November 30, 2022**

PHR-NPRT3-0123

1.810707.118 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 98.5%** | &nbsp;&nbsp;**Common Stocks - 98.5%** | &nbsp;&nbsp;**Common Stocks - 98.5%** |
|  | Shares | Value ($)<br>|
| Biotechnology - 20.0%  |  |  |
| Biotechnology - 20.0% |  |  |
| 2seventy bio, Inc. (a)(b) | 183600 | 2877012 |
| ADC Therapeutics SA (a)(b) | 419700 | 1536102 |
| Alnylam Pharmaceuticals, Inc. (a) | 34671 | 7648076 |
| Arcus Biosciences, Inc. (a) | 115100 | 4048067 |
| Argenx SE (a) | 15200 | 6151963 |
| Argenx SE ADR (a) | 11000 | 4377670 |
| Ascendis Pharma A/S sponsored ADR (a) | 40500 | 4983930 |
| Avidity Biosciences, Inc. (a) | 233300 | 2715612 |
| Biogen, Inc. (a) | 65300 | 19927601 |
| BioInvent International AB (a) | 1318105 | 4526263 |
| Blueprint Medicines Corp. (a) | 128100 | 6121899 |
| Cullinan Oncology, Inc. (a) | 88100 | 1095083 |
| Cytokinetics, Inc. (a) | 67100 | 2851750 |
| Galapagos NV sponsored ADR (a) | 36900 | 1467513 |
| Generation Bio Co. (a)(b) | 347558 | 1852484 |
| Gilead Sciences, Inc.  | 386100 | 33911163 |
| Intellia Therapeutics, Inc. (a) | 15400 | 792484 |
| iTeos Therapeutics, Inc. (a) | 116000 | 2337400 |
| Kalvista Pharmaceuticals, Inc. (a) | 374800 | 2020172 |
| Leap Therapeutics, Inc. warrants 1/31/26 (a) | 606000 | 30452 |
| Legend Biotech Corp. ADR (a) | 293400 | 15113034 |
| Moderna, Inc. (a) | 15100 | 2656241 |
| Oxurion NV (a)(b) | 3128819 | 51212 |
| PepGen, Inc.  | 243600 | 3644256 |
| PTC Therapeutics, Inc. (a) | 132000 | 5476680 |
| Relay Therapeutics, Inc. (a)(b) | 168000 | 3121440 |
| Sarepta Therapeutics, Inc. (a) | 107700 | 13226637 |
| SpringWorks Therapeutics, Inc. (a)(b) | 44300 | 1071174 |
| Synlogic, Inc. (a) | 520500 | 311363 |
| uniQure B.V. (a) | 150300 | 3976938 |
| Xencor, Inc. (a) | 123168 | 3660553 |
| XOMA Corp. (a)(b) | 53300 | 1128361 |
|  |  | 164710585 |
| Food & Staples Retailing - 0.0%  |  |  |
| Drug Retail - 0.0% |  |  |
| MedAvail Holdings, Inc. (a) | 3333 | 1397 |
| Health Care Providers & Services - 3.1%  |  |  |
| Health Care Services - 3.1% |  |  |
| Cigna Corp.  | 51900 | 17069391 |
| Guardant Health, Inc. (a) | 156500 | 8191210 |
|  |  | 25260601 |
| Pharmaceuticals - 75.4%  |  |  |
| Pharmaceuticals - 75.4% |  |  |
| Arvinas Holding Co. LLC (a) | 55600 | 2281824 |
| AstraZeneca PLC sponsored ADR  | 1484900 | 100928653 |
| Axsome Therapeutics, Inc. (a)(b) | 43400 | 3137386 |
| Bristol-Myers Squibb Co.  | 755880 | 60682046 |
| Edgewise Therapeutics, Inc. (a)(b) | 541684 | 4848072 |
| Eli Lilly & Co.  | 321661 | 119361963 |
| Euroapi SASU (a) | 163500 | 2918685 |
| GSK PLC sponsored ADR  | 515160 | 17819384 |
| Harmony Biosciences Holdings, Inc. (a)(b) | 73077 | 4367812 |
| Intra-Cellular Therapies, Inc. (a) | 91200 | 4944864 |
| Jazz Pharmaceuticals PLC (a) | 31600 | 4958356 |
| Johnson & Johnson  | 125350 | 22312300 |
| Merck & Co., Inc.  | 357636 | 39382876 |
| Merck KGaA  | 128200 | 23488173 |
| Novartis AG sponsored ADR  | 216396 | 19380426 |
| Pharvaris BV (a) | 64039 | 131920 |
| Pliant Therapeutics, Inc. (a) | 69631 | 1279818 |
| Roche Holding AG (participation certificate)  | 132336 | 43224100 |
| Royalty Pharma PLC  | 888500 | 39067345 |
| Sanofi SA sponsored ADR  | 1720022 | 78002998 |
| UCB SA  | 261800 | 21131591 |
| Zoetis, Inc. Class A  | 41700 | 6427638 |
| Zogenix, Inc. rights (a)(c) | 800 | 544 |
|  |  | 620078774 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $563,709,314) |  | <br> **810051357** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.6%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.6%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.6%** |
|  | Shares | Value ($)<br>|
| Biotechnology - 0.3%  |  |  |
| Biotechnology - 0.3% |  |  |
| Castle Creek Biosciences, Inc.: |  |  |
|  Series D1 (c)(d) | 6308  | 1285192  |
|  Series D2 (c)(d) | 85  | 17318  |
| ValenzaBio, Inc. Series A (a)(c)(d) | 224708 | 1332518 |
|  |  | 2635028 |
| Diversified Financial Services - 0.3%  |  |  |
| Other Diversified Financial Services - 0.3% |  |  |
| Paragon Biosciences Emalex Capital, Inc.: |  |  |
|  Series C (a)(c)(d) | 158879  | 1720660  |
|  Series D1 (c)(d) | 14400  | 155952  |
|  Series D2 (c)(d) | 22477  | 243426  |
|  |  | 2120038 |
| Pharmaceuticals - 0.0%  |  |  |
| Pharmaceuticals - 0.0% |  |  |
| Castle Creek Pharmaceutical Holdings, Inc. Series C (a)(c)(d) | 200 | 44304 |
| Software - 0.0%  |  |  |
| Systems Software - 0.0% |  |  |
| Evozyne LLC Series A (a)(c)(d) | 5900 | 91981 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $5,635,754) |  | <br> **4891351** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 1.9%** | &nbsp;&nbsp;**Money Market Funds - 1.9%** | &nbsp;&nbsp;**Money Market Funds - 1.9%** |
|  | Shares | Value ($)<br>|
| Fidelity Cash Central Fund 3.86% (e) | 3332860 | 3333527 |
| Fidelity Securities Lending Cash Central Fund 3.86% (e)(f) | 12536329 | 12537583 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $15,871,110) |  | **15871110** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 101.0%**<br> (Cost $585,216,178)<br>| <br>**830813818** |
| **NET OTHER ASSETS (LIABILITIES) - (1.0)%**  | **(8140117)** |
| **NET ASSETS - 100.0%** | **822673701** |

---

**Legend**

(a) Non-income producing

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

(c) Level 3 security

(d) 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 $4,891,351 or 0.6% of net assets.

(e) 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.

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

---

| | | |
|:---|:---|:---|
| 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>|
| Castle Creek Biosciences, Inc. Series D1 | 4/19/22 | 1356409 |
| Castle Creek Biosciences, Inc. Series D2 | 6/28/21 | 14700 |
| Castle Creek Pharmaceutical Holdings, Inc. Series C | 12/09/19 | 82370 |
| Evozyne LLC Series A | 4/09/21 | 132573 |
| Paragon Biosciences Emalex Capital, Inc. Series C | 2/26/21 | 1700005 |
| Paragon Biosciences Emalex Capital, Inc. Series D1 | 10/21/22 | 155952 |
| Paragon Biosciences Emalex Capital, Inc. Series D2 | 5/18/22 | 193747 |
| ValenzaBio, Inc. Series A | 3/25/21 | 1999998 |

---

**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 ($) | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund 3.86% | 10726575 | 241015774 | 248408822 | 93426 | - | - | 3333527 | 0.0% |
| Fidelity Securities Lending Cash Central Fund 3.86% | 7039136 | 299249449 | 293751002 | 43382 | - | - | 12537583 | 0.0% |
| Total | 17765711 | 540265223 | 542159824 | 136808 | - | - | 15871110 |  |

---

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

Amount 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 payments 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 as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| 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 ($) |
| Oxurion NV | - | 4984659 | - | - | - | (4933447) | - |
| Total | - | 4984659 | - | - | - | (4933447) | - |

---

**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 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 Pharmaceuticals Portfolio

- **b. EDGAR series identifier (if any):** S000007481

- **c. LEI of Series:** MN21BN6DBQP38HPMPO32

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

- **a. Date of fiscal year-end:** 2023-02-28

- **b. Date as of which information is reported:** 2022-11-30

**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:** $836549110.71

**Total Liabilities:** $13573539.92

**Net Assets:** $822975570.79

**Cash Not Reported:** $298.31

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000020455 | -2.45%               | 6.42%                | 5.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2324398.34              | $-21667137.65                              |
| Month 2  | $-162884.34              | $48294844.64                               |
| Month 3  | $3238998.67              | $39333017.55                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SYNLOGIC INC                             | SYNLOGIC INC                                              | CUSIP: 87166L100<br>LEI: 5493007C6UCNXL4HOI66 | Long             | EC               | CORP              | US        |    520500 | NS      | $311363.10    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AXSOME THERAPEUTICS INC                  | AXSOME THERAPEUTICS INC                                   | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |     43400 | NS      | $3137386.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: —       |
| BLUEPRINT MEDICINES CORP                 | BLUEPRINT MEDICINES CORP                                  | CUSIP: 09627Y109<br>LEI: 5299004CC60O9T5HVM83 | Long             | EC               | CORP              | US        |    128100 | NS      | $6121899.00   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| KALVISTA PHARMACEUTICALS INC             | KALVISTA PHARMACEUTICALS INC                              | CUSIP: 483497103<br>LEI: 529900Q7IDA3WUGRZA51 | Long             | EC               | CORP              | US        |    374800 | NS      | $2020172.00   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ARGENX SE                                | ARGENX SE                                                 | CUSIP: N/A<br>LEI: 7245009C5FZE6G9ODQ71       | Long             | EC               | CORP              | NL        |     15200 | NS      | $6151963.38   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| ADC THERAPEUTICS SA                      | ADC THERAPEUTICS SA                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CH        |    419700 | NS      | $1536102.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| XENCOR INC                               | XENCOR INC                                                | CUSIP: 98401F105<br>LEI: 549300V5IF65437JKG30 | Long             | EC               | CORP              | US        |    123168 | NS      | $3660552.96   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CASTLE CREEK BIOSCIENCES INC             | CASTLE CREEK BIOSCIENCES INC SER D-1 PC PP                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      6308 | NS      | $1285191.92   | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SAREPTA THERAPEUTICS INC                 | SAREPTA THERAPEUTICS INC                                  | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |    107700 | NS      | $13226637.00  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| INTRA-CELLULAR THERAPIES INC             | INTRA-CELLULAR THERAPIES INC                              | CUSIP: 46116X101<br>LEI: 5299002U2KGF193IJA20 | Long             | EC               | CORP              | US        |     91200 | NS      | $4944864.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK KGAA                               | MERCK KGAA                                                | CUSIP: N/A<br>LEI: 529900OAREIS0MOPTW25       | Long             | EC               | CORP              | DE        |    128200 | NS      | $23488173.19  | 2.85%             |  |  |  | No            |                  2 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                  | BRISTOL-MYERS SQUIBB CO                                   | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    755880 | NS      | $60682046.40  | 7.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ITEOS THERAPEUTICS INC                   | ITEOS THERAPEUTICS INC                                    | CUSIP: 46565G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116000 | NS      | $2337400.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| PLIANT THERAPEUTICS INC                  | PLIANT THERAPEUTICS INC                                   | CUSIP: 729139105<br>LEI: 5493002Q5LITR7VHZH02 | Long             | EC               | CORP              | US        |     78525 | NS      | $1443289.50   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| VALENZABIO INC                           | VALENZABIO INC SER A PC PP                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    224708 | NS      | $1332518.44   | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| INTELLIA THERAPEUTICS INC                | INTELLIA THERAPEUTICS INC                                 | CUSIP: 45826J105<br>LEI: 5493002T5BCPE5DZC723 | Long             | EC               | CORP              | US        |     15400 | NS      | $792484.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI                                   | SANOFI SPON ADR                                           | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |   1720022 | NS      | $78002997.70  | 9.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PEPGEN INC                               | PEPGEN INC                                                | CUSIP: 713317105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    243600 | NS      | $3644256.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| CASTLE CREEK PHARMACEUTICAL HOLDINGS INC | CASTLE CREEK PHARMACEUTICAL HOLDINGS INC SER C PC PERP PP | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |       200 | NS      | $44304.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PARAGON BIOSCIENCES EMALEX CAPITAL INC   | PARAGON BIOSCIENCES EMALEX CAPITAL INC SER D-2 PC PP      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     22477 | NS      | $243425.91    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ZOGENIX INC                              | ZOGENIX INC CVR RT 12/31/23                               | CUSIP: N/A<br>LEI: 54930089H3HF4C32SK78       | Long             | EC               | CORP              | US        |       800 | NS      | $544.00       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ROCHE HOLDING AG                         | ROCHE HOLDINGS AG (GENUSSCHEINE)                          | CUSIP: N/A<br>LEI: 549300U41AUUVOAAOB37       | Long             | EC               | CORP              | CH        |    132336 | NS      | $43224099.54  | 5.25%             |  |  |  | No            |                  2 | On Loan: No      |
| BIOGEN INC                               | BIOGEN INC                                                | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |     65300 | NS      | $19927601.00  | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK and CO INC                         | MERCK and CO INC NEW                                      | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    357636 | NS      | $39382876.32  | 4.79%             |  |  |  | No            |                  1 | On Loan: No      |
| ARVINAS INC                              | ARVINAS INC                                               | CUSIP: 04335A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55600 | NS      | $2281824.00   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA CORP                               | CIGNA CORP                                                | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |     51900 | NS      | $17069391.00  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| LEAP THERAPEUTICS INC                    | LEAP THERAPEUTICS INC WT                                  | CUSIP: N/A<br>LEI: 549300T31SMMJ2DDLI13       | Long             | EC               | CORP              | US        |    606000 | NS      | $30451.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PARAGON BIOSCIENCES EMALEX CAPITAL INC   | PARAGON BIOSCIENCES EMALEX CAPITAL INC SER C PC PP        | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    158879 | NS      | $1720659.57   | 0.21%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ARGENX SE                                | ARGENX SE SPONSORED ADR                                   | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |     11000 | NS      | $4377670.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYALTY PHARMA PLC                       | ROYALTY PHARMA PLC                                        | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | GB        |    888500 | NS      | $39067345.00  | 4.75%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERATION BIO CO                        | GENERATION BIO                                            | CUSIP: 37148K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    347558 | NS      | $1852484.14   | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| EDGEWISE THERAPEUTICS INC                | EDGEWISE THERAPEUTICS INC                                 | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    547484 | NS      | $4899981.80   | 0.60%             |  |  |  | No            |                  1 | On Loan: —       |
| SPRINGWORKS THERAPEUTICS INC             | SPRINGWORKS THERAPEUTICS INC                              | CUSIP: 85205L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44300 | NS      | $1071174.00   | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| MEDAVAIL HOLDINGS INC                    | MYOS CORP PIPE                                            | CUSIP: N/A<br>LEI: 549300ZNQGSJ2V3ZB668       | Long             | EC               | CORP              | US        |      3333 | NS      | $1396.86      | 0.00%             |  |  |  | Yes           |                  1 | On Loan: No      |
| GUARDANT HEALTH INC                      | GUARDANT HEALTH INC                                       | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |    156500 | NS      | $8191210.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIQURE N.V.                             | UNIQURE N.V.                                              | CUSIP: N/A<br>LEI: 724500RPCTZLFYJZ3S98       | Long             | EC               | CORP              | NL        |    150300 | NS      | $3976938.00   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| NOVARTIS AG                              | NOVARTIS AG SPON ADR                                      | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |    216396 | NS      | $19380425.76  | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| AVIDITY BIOSCIENCES INC                  | AVIDITY BIOSCIENCES                                       | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    233300 | NS      | $2715612.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| RELAY THERAPEUTICS INC                   | RELAY THERAPEUTICS INC                                    | CUSIP: 75943R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    168000 | NS      | $3121440.00   | 0.38%             |  |  |  | No            |                  1 | On Loan: —       |
| MODERNA INC                              | MODERNA INC                                               | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |     15100 | NS      | $2656241.00   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOINVENT INTERNATIONAL AB               | BIOINVENT AB                                              | CUSIP: N/A<br>LEI: 549300E7QRHEF2IJUY10       | Long             | EC               | CORP              | SE        |   1321723 | NS      | $4538686.84   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| ASTRAZENECA PLC                          | ASTRAZENECA PLC SPONS ADR                                 | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |   1484900 | NS      | $100928653.00 | 12.26%            |  |  |  | No            |                  1 | On Loan: No      |
| LILLY (ELI) and CO                       | LILLY (ELI) and CO                                        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    321661 | NS      | $119361963.88 | 14.50%            |  |  |  | No            |                  1 | On Loan: No      |
| GALAPAGOS NV                             | GALAPAGOS GENOMICS NV SPON AR                             | CUSIP: 36315X101<br>LEI: 549300QKJ78IY0IOV655 | Long             | EC               | CORP              | BE        |     36900 | NS      | $1467513.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CASTLE CREEK BIOSCIENCES INC             | CASTLE CREEK BIOSCIENCES INC SER D-2 PC PP                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |        85 | NS      | $17317.90     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CYTOKINETICS INC                         | CYTOKINETICS INC                                          | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |     67100 | NS      | $2851750.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOETIS INC                               | ZOETIS INC CL A                                           | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     41700 | NS      | $6427638.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust             | Fidelity Cash Central Fund                                | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   3332860 | NS      | $3333526.82   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ASCENDIS PHARMA A/S                      | ASCENDIS PHARMA AS SPON ADR                               | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |     40500 | NS      | $4983930.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CULLINAN ONCOLOGY INC                    | CULLINAN ONCOLOGY INC                                     | CUSIP: 230031106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     88100 | NS      | $1095083.00   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGEND BIOTECH CORP                      | LEGEND BIOTECH CORP SPON ADR                              | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | KY        |    293400 | NS      | $15113034.00  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| PHARVARIS BV                             | PHARVARIS BV                                              | CUSIP: N/A<br>LEI: 9845003BE146D3B75D32       | Long             | EC               | CORP              | NL        |     64039 | NS      | $131920.34    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC THERAPEUTICS INC                     | PTC THERAPEUTICS INC                                      | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |    132000 | NS      | $5476680.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| OXURION NV                               | OXURION NV                                                | CUSIP: N/A<br>LEI: 549300VWY8KVDFKLDM59       | Long             | EC               | CORP              | BE        |   3128819 | NS      | $51212.30     | 0.01%             |  |  |  | No            |                  2 | On Loan: —       |
| UCB SA                                   | UCB SA                                                    | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |    261800 | NS      | $21131590.80  | 2.57%             |  |  |  | No            |                  2 | On Loan: No      |
| GSK PLC                                  | GSK PLC SPONS ADR                                         | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |    515160 | NS      | $17819384.40  | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ALNYLAM PHARMACEUTICALS INC              | ALNYLAM PHARMACEUTICALS INC                               | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |     34671 | NS      | $7648075.89   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| HARMONY BIOSCIENCES HOLDINGS INC         | HARMONY BIOSCIENCES HOLDINGS INC                          | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73077 | NS      | $4367812.29   | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| Fidelity Revere Street Trust             | Fidelity Securities Lending Cash Central Fund             | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |  12922991 | NS      | $12924283.10  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| EUROAPI SASU                             | EUROAPI SASU                                              | CUSIP: N/A<br>LEI: 9695002FT7GGI3CKKJ14       | Long             | EC               | CORP              | FR        |    163500 | NS      | $2918684.52   | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| EVOZYNE LLC                              | EVOZYNE LLC SER A PC PP                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |      5900 | NS      | $91981.00     | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GILEAD SCIENCES INC                      | GILEAD SCIENCES INC                                       | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |    386100 | NS      | $33911163.00  | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| PARAGON BIOSCIENCES EMALEX CAPITAL INC   | PARAGON BIOSCIENCES EMALEX CAPITAL INC SER D-1 PC PP      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     14400 | NS      | $155952.00    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| JOHNSON and JOHNSON                      | JOHNSON and JOHNSON                                       | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    125350 | NS      | $22312300.00  | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| JAZZ PHARMACEUTICALS PLC                 | JAZZ PHARMA PLC                                           | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | IE        |     31600 | NS      | $4958356.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| 2SEVENTY BIO INC                         | 2SEVENTY BIO INC-W/I                                      | CUSIP: 901384107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    183600 | NS      | $2877012.00   | 0.35%             |  |  |  | No            |                  1 | On Loan: —       |
| ARCUS BIOSCIENCES INC                    | ARCUS BIOSCIENCES INC                                     | CUSIP: 03969F109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    115100 | NS      | $4048067.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| XOMA CORP                                | XOMA CORPORATION                                          | CUSIP: 98419J206<br>LEI: 549300U6ZVYFCWNBJ613 | Long             | EC               | CORP              | US        |     53300 | NS      | $1128361.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2022-12-30

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

**Signature:** Stacie M. Smith

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

**Title:** President and Treasurer