# EDGAR Filing Document

**Accession Number:** 0001604522
**File Stem:** 0001752724-23-039746
**Filing Date:** 2023-2
**Character Count:** 102288
**Document Hash:** 1904fd0d45175a194d2a0a0717d30712
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-039746.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-039746

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tekla Healthcare Opportunities Fund
- **CENTRAL INDEX KEY:** 0001604522
- **IRS NUMBER:** 465317248
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22955
- **FILM NUMBER:** 23665984

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **STREET 2:** 19TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 617-772-8500

**MAIL ADDRESS:**
- **STREET 1:** 100 FEDERAL STREET
- **STREET 2:** 19TH FLOOR
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tekla Healthcare Growth & Income Fund
- **DATE OF NAME CHANGE:** 20140402

## Nport-Ex

**<u>Tekla Healthcare Opportunities Fund</u>**

**SCHEDULE OF INVESTMENTS**

*December 31, 2022*

*(Unaudited)*

---

| | | |
|:---|:---|:---|
| **SHARES** | **CONVERTIBLE PREFERREDS (Restricted) <sup>(a)(b)</sup> - 1.3% of Net Assets** | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;**Biotechnology – 0.4%** |  |
| 294259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oculis SA, Series B2, 6.00% <sup>(c)</sup> | $3130916 |
| 79934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oculis SA, Series C, 6.00% <sup>(c)</sup> | 850498 |
|  |  | 3981414 |
|  | &nbsp;&nbsp;&nbsp;**Health Care Equipment & Supplies – 0.1%** |  |
| 189858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IO Light Holdings, Inc. Series A2 | 640771 |
|  | &nbsp;&nbsp;&nbsp;**Pharmaceuticals – 0.8%** |  |
| 616645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aristea Therapeutics, Inc. Series B, 8.00% | 3399995 |
| 742138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Endeavor Biomedicines, Inc. Series B, 8.00% | 3499997 |
|  |  | 6899992 |
|  | **TOTAL CONVERTIBLE PREFERREDS**<br> (Cost $10,860,130) | 11522177 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | **NON-CONVERTIBLE NOTES - 17.1% of Net Assets** |  |
|  | &nbsp;&nbsp;&nbsp;**Biotechnology – 2.6%** |  |
| $3245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie, Inc., 3.20% due 05/14/26 | 3066383 |
| 5303000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie, Inc., 4.25% due 11/14/28 | 5123596 |
| 3080000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie, Inc., 4.45% due 05/14/46 | 2663825 |
| 2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amgen, Inc., 3.20% due 11/02/27 | 2040797 |
| 2795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amgen, Inc., 2.00% due 01/15/32 | 2188077 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gilead Sciences, Inc., 2.95% due 03/01/27 | 9316581 |
|  |  | 24399259 |
|  | &nbsp;&nbsp;&nbsp;**Health Care Equipment & Supplies – 2.7%** |  |
| 2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abbott Laboratories, 3.40% due 11/30/23 | 2077638 |
| 10498000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abbott Laboratories, 4.75% due 11/30/36 | 10446581 |
| 2413000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Becton, Dickinson and Co., 3.70% due 06/06/27 | 2285348 |
| 1760000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DH Europe Finance II Sarl, 3.25% due 11/15/39 | 1415068 |
| 3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stryker Corp., 3.65% due 03/07/28 | 3333462 |
| 6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc., 4.25% due 08/15/35 | 4988970 |
|  |  | 24547067 |
|  | &nbsp;&nbsp;&nbsp;**Health Care Providers & Services – 7.0%** |  |
| 2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cigna Corp., 3.50% due 06/15/24 | 2054231 |
| 1504000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cigna Corp., 4.38% due 10/15/28 | 1453338 |
| 5800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cigna Corp., 2.38% due 03/15/31 | 4761928 |
| 8250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cigna Corp., 6.13% due 11/15/41 | 8550748 |
| 789000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Health Corp., 4.30% due 03/25/28 | 764444 |
| 4400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Health Corp., 1.88% due 02/28/31 | 3464586 |
| 2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Health Corp., 4.78% due 03/25/38 | 1919778 |
| 3700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Health Corp., 5.05% due 03/25/48 | 3337738 |

---

The accompanying notes are an integral part of this Schedule of Investments.

**<u>Tekla Healthcare Opportunities Fund</u>**

**SCHEDULE OF INVESTMENTS**

*December 31, 2022*

*(Unaudited, continued)*

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | **Health Care Providers & Services – continued** | **VALUE** |
| $10500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc., 3.50% due 08/15/24 | $10246325 |
| 2975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc., 4.10% due 03/01/28 | 2856272 |
| 5800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc., 2.55% due 03/15/31 | 4876623 |
| 2325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc., 4.65% due 08/15/44 | 2094353 |
| 1132000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tenet Healthcare Corp., 4.63% due 07/15/24 | 1103991 |
| 1460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc., 3.85% due 06/15/28 | 1400632 |
| 4970000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc., 3.88% due 12/15/28 | 4749208 |
| 10940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc., 4.20% due 05/15/32 | 10414932 |
|  |  | 64049127 |
|  | &nbsp;&nbsp;&nbsp;**Healthcare Services – 0.6%** |  |
| 2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Laboratory Corporation of America Holdings, 3.60% due 02/01/25 | 2033918 |
| 4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Syneos Health, Inc., 3.63% due 01/15/29<sup>(d)</sup> | 3298450 |
|  |  | 5332368 |
|  | &nbsp;&nbsp;&nbsp;**Pharmaceuticals – 4.2%** |  |
| 4750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AstraZeneca plc, 6.45% due 09/15/37 <sup>(c)</sup> | 5396204 |
| 7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co., 3.20% due 06/15/26 | 7157722 |
| 2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co., 3.40% due 07/26/29 | 1951569 |
| 1290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IQVIA, Inc., 5.00% due 05/15/27<sup>(d)</sup> | 1229757 |
| 2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson, 2.90% due 01/15/28 | 2053452 |
| 4200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merck & Co., Inc., 2.80% due 05/18/23 | 4168635 |
| 2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merck & Co., Inc., 2.75% due 02/10/25 | 2014036 |
| 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merck & Co., Inc., 3.40% due 03/07/29 | 3735634 |
| 8100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pfizer, Inc., 3.45% due 03/15/29 | 7632480 |
| 3200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pfizer, Inc., 4.00% due 12/15/36 | 2931659 |
|  |  | 38271148 |
|  | **TOTAL NON-CONVERTIBLE NOTES**<br> (Cost $167,709,899) | 156598969 |

---

---

| | | |
|:---|:---|:---|
| **SHARES** | **COMMON STOCKS - 101.5% of Net Assets** |  |
|  | &nbsp;&nbsp;&nbsp;**Biotechnology – 13.8%** |  |
| 238878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie, Inc. <sup>(e)</sup> | 38605073.0 |
| 74201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amgen, Inc. | 19488151.0 |
| 15207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;argenx SE ADR <sup>(b)(e)</sup> | 5760868.0 |
| 22668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biogen, Inc. <sup>(b)(e)</sup> | 6277222.0 |
| 14319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fusion Pharmaceuticals, Inc. <sup>(b)(c)</sup> | 45105.0 |
| 7160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fusion Pharmaceuticals, Inc. (Restricted) <sup>(a)(b)(c)</sup> | 20299.0 |
| 314430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Galera Therapeutics, Inc. <sup>(b)</sup> | 468501.0 |
| 176832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gilead Sciences, Inc. | 15181027.0 |
| 43738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I-Mab ADR <sup>(b)</sup> | 182825.0 |
| 38588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moderna, Inc. <sup>(b)</sup> | 6931176.0 |
| 594616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rallybio Corp. <sup>(b)(f)</sup> | 3906627.0 |
| 11738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. <sup>(b)</sup> | 8468850.0 |
| 27171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sarepta Therapeutics, Inc. <sup>(b)</sup> | 3520818.0 |
| 22256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Therapeutics Corp. <sup>(b)(e)</sup> | 6189171.0 |

---

The accompanying notes are an integral part of this Schedule of Investments.

**<u>Tekla Healthcare Opportunities Fund</u>**

**SCHEDULE OF INVESTMENTS**

*December 31, 2022*

*(Unaudited, continued)*

---

| | | |
|:---|:---|:---|
| **SHARES** | &nbsp;&nbsp;&nbsp;**Biotechnology – continued** | **VALUE** |
| 40299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc. <sup>(b)(e)</sup> | $11637545 |
|  |  | 126683258 |
|  | &nbsp;&nbsp;&nbsp;**Health Care Equipment & Supplies – 15.2%** |  |
| 394798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abbott Laboratories <sup>(e)</sup> | 43344872 |
| 119329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DexCom, Inc. <sup>(b)(e)</sup> | 13512816 |
| 93958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edwards Lifesciences Corp. <sup>(b)</sup> | 7010206 |
| 74536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Guardant Health, Inc. <sup>(b)</sup> | 2027379 |
| 30357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IDEXX Laboratories, Inc. <sup>(b)(e)</sup> | 12384442 |
| 130862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lantheus Holdings, Inc. <sup>(b)(e)</sup> | 6668728 |
| 211627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic plc <sup>(e)</sup> | 16447650 |
| 16669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;STERIS plc | 3078598 |
| 81734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stryker Corp. <sup>(e)</sup> | 19983146 |
| 115213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | 14689657 |
|  |  | 139147494 |
|  | &nbsp;&nbsp;&nbsp;**Health Care Providers & Services – 23.5%** |  |
| 20815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1Life Healthcare, Inc. <sup>(b)</sup> | 347819 |
| 105220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acadia Healthcare Co., Inc. <sup>(b)(e)</sup> | 8661710 |
| 33471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Addus HomeCare Corp. <sup>(b)</sup> | 3330030 |
| 19912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alerislife, Inc. <sup>(b)</sup> | 10952 |
| 20417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AmerisourceBergen Corp. | 3383301 |
| 30749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles River Laboratories International, Inc. <sup>(b)(e)</sup> | 6700207 |
| 100443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cigna Corp. <sup>(e)</sup> | 33280784 |
| 79635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Community Health Systems, Inc. <sup>(b)</sup> | 344023 |
| 93621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Health Corp. | 8724541 |
| 8200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. | 4206354 |
| 58163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HCA Healthcare, Inc. <sup>(e)</sup> | 13956793 |
| 50653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HealthEquity, Inc. <sup>(b)</sup> | 3122251 |
| 45140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Humana, Inc. <sup>(e)</sup> | 23120257 |
| 36738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Molina Healthcare, Inc. <sup>(b)(e)</sup> | 12131622 |
| 64975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Option Care Health, Inc. <sup>(b)</sup> | 1955098 |
| 132254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R1 RCM, Inc. <sup>(b)</sup> | 1448181 |
| 171893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. <sup>(e)</sup> | 91134231 |
|  |  | 215858154 |
|  | &nbsp;&nbsp;&nbsp;**Health Care Technology – 0.6%** |  |
| 338217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allscripts Healthcare Solutions, Inc. <sup>(b)</sup> | 5966148 |
|  | &nbsp;&nbsp;&nbsp;**Healthcare Services – 0.5%** |  |
| 19824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Laboratory Corporation of America Holdings <sup>(e)</sup> | 4668156 |
|  | &nbsp;&nbsp;&nbsp;**Life Sciences Tools & Services – 6.1%** |  |
| 43191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | 6463533 |
| 317100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avantor, Inc. <sup>(b)</sup> | 6687639 |
| 2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICON plc <sup>(b)</sup> | 543900 |
| 57841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Illumina, Inc. <sup>(b)(e)</sup> | 11695450 |

---

The accompanying notes are an integral part of this Schedule of Investments.

**<u>Tekla Healthcare Opportunities Fund</u>**

**SCHEDULE OF INVESTMENTS**

*December 31, 2022*

*(Unaudited, continued)*

---

| | | |
|:---|:---|:---|
| **SHARES** | &nbsp;&nbsp;&nbsp;**Life Sciences Tools & Services – continued** | **VALUE** |
| 55562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thermo Fisher Scientific, Inc. | $30597438 |
|  |  | 55987960 |
|  | &nbsp;&nbsp;&nbsp;**Medical Devices and Diagnostics – 7.1%** |  |
| 24937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Align Technology, Inc. <sup>(b)(e)</sup> | 5259213 |
| 423270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boston Scientific Corp. <sup>(b)(e)</sup> | 19584703 |
| 64611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danaher Corp. | 17149052 |
| 56048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc. <sup>(b)(e)</sup> | 14872337 |
| 40610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ResMed, Inc. | 8452159 |
|  |  | 65317464 |
|  | &nbsp;&nbsp;&nbsp;**Pharmaceuticals – 32.2%** |  |
| 410575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assertio Holdings, Inc. <sup>(b)</sup> | 1765473 |
| 16300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AstraZeneca plc ADR <sup>(e)</sup> | 1105140 |
| 326754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Co. <sup>(e)</sup> | 23509950 |
| 89791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Catalent, Inc. <sup>(b)</sup> | 4041493 |
| 158691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly & Co. <sup>(e)</sup> | 58055515 |
| 38052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Horizon Therapeutics plc <sup>(b)</sup> | 4330318 |
| 31733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IQVIA Holdings, Inc. <sup>(b)(e)</sup> | 6501774 |
| 49859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jazz Pharmaceuticals plc <sup>(b)(e)</sup> | 7943037 |
| 423717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson <sup>(e)</sup> | 74849608 |
| 35038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McKesson Corp. <sup>(e)</sup> | 13143455 |
| 330944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merck & Co., Inc. | 36718237 |
| 28292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perrigo Co. plc | 964474 |
| 944647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pfizer, Inc. | 48403712 |
| 77704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Teva Pharmaceutical Industries Ltd. ADR <sup>(b)</sup> | 708661 |
| 89682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zoetis, Inc. | 13142897 |
|  |  | 295183744 |
|  | &nbsp;&nbsp;&nbsp;**Real Estate Investment Trusts – 2.5%** |  |
| 293879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diversified Healthcare Trust REIT | 190081 |
| 31668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Global Medical REIT, Inc. | 300213 |
| 25119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Healthcare Realty Trust, Inc. | 484043 |
| 66791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Healthpeak Properties, Inc. | 1674450 |
| 135390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LTC Properties, Inc. | 4810407 |
| 266557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medical Properties Trust, Inc. | 2969445 |
| 5596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Health Investors, Inc. | 292223 |
| 235358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. | 6578256 |
| 419879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sabra Health Care REIT, Inc. | 5219096 |
| 3075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Universal Health Realty Income Trust | 146770 |
|  |  | 22664984 |
|  | **TOTAL COMMON STOCKS**<br> (Cost $777,398,575) | 931477362 |

---

The accompanying notes are an integral part of this Schedule of Investments.

**<u>Tekla Healthcare Opportunities Fund</u>**

**SCHEDULE OF INVESTMENTS**

*December 31, 2022*

*(Unaudited, continued)*

 

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | **SHORT-TERM INVESTMENTS - 5.3% of Net Assets** | **VALUE** |
| $48695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repurchase Agreement, Fixed Income Clearing Corp., repurchase value $48,701,926, 1.28%, dated 12/30/22, due 01/03/23 (collateralized by U.S. Treasury Notes 0.375% - 2.875%, due 04/30/25 - 07/31/25, market value $49,668,927) | $48695000 |

---

---

| | | |
|:---|:---|:---|
| **SHARES** |  |  |
| 94900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Institutional Class, 4.09% <sup>(g)</sup> | 94900 |
|  | **TOTAL SHORT-TERM INVESTMENTS**<br> (Cost $48,789,900) | 48789900 |
|  | **TOTAL INVESTMENTS BEFORE MILESTONE INTEREST – 125.2%**<br> (Cost $1,004,758,504) | 1148388408 |
| **INTERESTS** |  |  |
|  | **MILESTONE INTEREST (Restricted)<sup>(a)(b)</sup> – 0.0%** |  |
|  | &nbsp;&nbsp;&nbsp;**Biotechnology – 0.0%** |  |
| 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rainier Therapeutics Milestone Interest | 255581 |
|  | **TOTAL MILESTONE INTEREST**<br> (Cost $277,782) | 255581 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> CONTRACTS<br> (100 SHARES<br> EACH)/<br> NOTIONAL<br> AMOUNT ($)** | **OPTION CONTRACTS WRITTEN - (0.2)% of Net Assets** |  |
|  | ***Call Option Contracts Written - (0.2)%*** |  |
| 579/(6658500) | Abbott Laboratories Feb 23 115 Call | (97272) |
| 660/(7260000) | Abbott Laboratories Jan 23 110 Call | (151800) |
| 82/(1353000) | AbbVie, Inc. Jan 23 165 Call | (12956) |
| 103/(927000) | Acadia Healthcare Co., Inc. Jan 23 90 Call | (44290) |
| 16/(368000) | Align Technology, Inc. Feb 23 230 Call | (17600) |
| 16/(352000) | Align Technology, Inc. Jan 23 220 Call | (9264) |
| 22/(902000) | argenx SE Jan 23 410 Call | (6490) |
| 163/(1141000) | AstraZeneca plc Jan 23 70 Call | (8150) |
| 17/(510000) | Biogen, Inc. Feb 23 300 Call | (12410) |
| 16/(528000) | Biogen, Inc. Jan 23 330 Call | (2800) |
| 221/(1038700) | Boston Scientific Corp. Jan 23 47 Call | (16575) |
| 352/(2640000) | Bristol-Myers Squibb Co. Feb 23 75 Call | (32736) |
| 352/(2904000) | Bristol-Myers Squibb Co. Jan 23 82.5 Call | (352) |
| 15/(360000) | Charles River Laboratories International, Inc. Feb 23 240 Call | (6375) |
| 99/(3366000) | Cigna Corp. Jan 23 340 Call | (37125) |
| 115/(1437500) | DexCom, Inc. Feb 23 125 Call | (39560) |
| 174/(2175000) | DexCom, Inc. Jan 23 125 Call | (17400) |
| 156/(6084000) | Eli Lilly & Co. Feb 23 390 Call | (95940) |

---

The accompanying notes are an integral part of this Schedule of Investments.

**<u>Tekla Healthcare Opportunities Fund</u>**

**SCHEDULE OF INVESTMENTS**

*December 31, 2022*

*(Unaudited, continued)*

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> CONTRACTS<br> (100 SHARES<br> EACH)/<br> NOTIONAL<br> AMOUNT ($)** | ***Call Option Contracts Written - (0.2)% - continued*** | **VALUE** |
| 155/(6045000) | Eli Lilly & Co. Jan 23 390 Call | $(25575) |
| 55/(1430000) | HCA Healthcare, Inc. Feb 23 260 Call | (29205) |
| 63/(1575000) | HCA Healthcare, Inc. Jan 23 250 Call | (13041) |
| 44/(2420000) | Humana, Inc. Feb 23 550 Call | (33880) |
| 33/(1848000) | Humana, Inc. Jan 23 560 Call | (2079) |
| 14/(602000) | IDEXX Laboratories, Inc. Jan 23 430 Call | (7000) |
| 56/(1344000) | Illumina, Inc. Jan 23 240 Call | (4760) |
| 76/(2166000) | Intuitive Surgical, Inc. Feb 23 285 Call | (50388) |
| 91/(2593500) | Intuitive Surgical, Inc. Jan 23 285 Call | (15470) |
| 30/(660000) | IQVIA Holdings, Inc. Feb 23 220 Call | (14850) |
| 48/(816000) | Jazz Pharmaceuticals plc Feb 23 170 Call | (15840) |
| 415/(7677500) | Johnson & Johnson Feb 23 185 Call | (67645) |
| 415/(7470000) | Johnson & Johnson Jan 23 180 Call | (63910) |
| 29/(725000) | Laboratory Corporation of America Holdings Jan 23 250 Call | (3770) |
| 121/(786500) | Lantheus Holdings, Inc. Jan 23 65 Call | (1815) |
| 19/(760000) | McKesson Corp. Jan 23 400 Call | (3306) |
| 290/(2320000) | Medtronic plc Feb 23 80 Call | (55100) |
| 299/(2392000) | Medtronic plc Jan 23 80 Call | (28405) |
| 36/(1260000) | Molina Healthcare, Inc. Feb 23 350 Call | (28800) |
| 78/(2028000) | Stryker Corp. Feb 23 260 Call | (31980) |
| 90/(2160000) | Stryker Corp. Jan 23 240 Call | (72000) |
| 22/(638000) | United Therapeutics Corp. Feb 23 290 Call | (14630) |
| 168/(9408000) | UnitedHealth Group, Inc. Feb 23 560 Call | (119280) |
| 168/(9240000) | UnitedHealth Group, Inc. Jan 23 550 Call | (79632) |
| 30/(930000) | Vertex Pharmaceuticals, Inc. Feb 23 310 Call | (13500) |
|  | **TOTAL OPTION CONTRACTS WRITTEN**<br> (Premiums received $(1966322)) | (1404956) |
|  | **TOTAL INVESTMENTS** - **125.0%**<br> (Cost $1,003,069,964) | 1147239033 |
|  | **OTHER LIABILITIES IN EXCESS OF ASSETS - (25.0)%** | (229408138) |
|  | **NET ASSETS - 100%** | $917830895 |

---

---

| | |
|:---|:---|
| (a) | Security fair valued using significant unobservable inputs. See Investment Valuation and Fair Value Measurements. |
| (b) | Non-income producing security. |
| (c) | Foreign security. |
| (d) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. |
| (e) | A portion of security is pledged as collateral for call options written. |
| (f) | All or a portion of this security is on loan as of December 31, 2022. |
| (g) | This security represents the investment of cash collateral received for securities lending and is a registered investment company advised by State Street Global Advisors. The rate shown is the annualized seven-day yield as of December 31, 2022. |
| ADR | American Depository Receipt |

---

The accompanying notes are an integral part of this Schedule of Investments.

**<u>Tekla Healthcare Opportunities Fund</u>**

**NOTES TO FINANCIAL STATEMENTS**

*December 31, 2022*

*(Unaudited)*

***Investment Valuation***

Shares of publicly traded companies listed on national securities exchanges or trading in the over-the-counter market are typically valued at the last sale price, as of the close of trading, generally 4 p.m., Eastern Time. The Board of Trustees of the Fund (the Trustees) has established and approved fair valuation policies and procedures with respect to securities for which quoted prices may not be available or which do not reflect fair value. Convertible, corporate and government bonds are valued using a third-party pricing service. Convertible bonds are valued using this pricing service only on days when there is no sale reported. Puts and calls generally are valued at the close of regular trading on the securities or commodities exchange on which they are primarily traded. Options on securities generally are valued at their last bid price in the case of exchange traded options or, in the case of OTC-traded options, the average of the last bid price as obtained from two or more dealers unless there is only one dealer, in which case that dealer's price is used. Forward foreign currency contracts are valued on the basis of the value of the underlying currencies at the prevailing currency exchange rate. Restricted securities of companies that are publicly traded are typically valued based on the closing market quote on the valuation date adjusted for the impact of the restriction as determined in good faith by Tekla Capital Management LLC (the Adviser) also using fair valuation policies and procedures approved by the Trustees described below. Non-exchange traded warrants of publicly traded companies are generally valued using the Black-Scholes model, which incorporates both observable and unobservable inputs. Short-term investments with a maturity of 60 days or less are generally valued at amortized cost, which approximates fair value.

Convertible preferred shares, warrants or convertible note interests in private companies, milestone interests and other restricted securities, as well as shares of publicly traded companies for which market quotations are not readily available, such as stocks for which trading has been halted or for which there are no current day sales, or which do not reflect fair value, are typically valued in good faith, based upon the recommendations made by the Adviser pursuant to fair valuation policies and procedures approved by the Trustees.

The Adviser has a Valuation Sub-Committee comprised of senior management which reports to the Valuation Committee of the Board at least quarterly. Each fair value determination is based on a consideration of relevant factors, including both observable and unobservable inputs. Observable and unobservable inputs may include (i) the existence of any contractual restrictions on the disposition of securities; (ii) information obtained from the company, which may include an analysis of the company's financial statements, products, intended markets or technologies; (iii) the price of the same or similar security negotiated at arm's length in an issuer's completed subsequent round of financing; (iv) the price and extent of public trading in similar securities of the issuer or of comparable companies; or (v) a probability and time value adjusted analysis of contractual terms. Where available and appropriate, multiple valuation methodologies are applied to confirm fair value. Significant unobservable inputs identified by the Adviser are often used in the fair value determination. A significant change in any of these inputs may result in a significant change in the fair value measurement. Due to the uncertainty inherent in the valuation process, such estimates of fair value may differ significantly from the values that would have been used had a ready market for the investments existed, and differences could be material. Additionally, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different from the valuations used at the date of this schedule of investments.

***Federal Income Tax Cost***

At December 31, 2022, the cost of securities for Federal income tax purposes was $1,004,576,771. The net unrealized gain on securities held by the Fund was $142,662,262, including gross unrealized gain of $218,910,675 and gross unrealized loss of 76,248,413.

***Securities Lending***

The Fund may lend its securities to approved borrowers to earn additional income. The Fund receives cash collateral from the borrower and the initial collateral received by the fund is required to have a value of at least 102% of the current value of the loaned securities traded on U.S. exchanges, and a value of at least 105% for all other securities. The Fund will invest its cash collateral in State Street Institutional U.S. Government Money Market Fund (SAHXX), which is registered with the Securities and Exchange Commission (SEC) as an investment company. SAHXX invests substantially all of its assets in the State Street U.S. Government Money Market Portfolio. The Fund will receive the benefit of any gains and bear any losses generated by SAHXX with respect to the cash collateral.

**<u>Tekla Healthcare Opportunities Fund</u>**

**NOTES TO FINANCIAL STATEMENTS**

*December 31, 2022*

*(Unaudited, continued)*

The Fund has the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the Fund for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of SAHXX.

Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the Fund could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. The Fund receives compensation for lending its securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the Fund is net of fees retained by the securities lending agent. Net income received from SAHXX is a component of securities lending income as recorded by the Fund.

As of December 31, 2022, the Fund loaned securities valued at $95,922 and received $94,900 of cash collateral.

***Fair Value Measurements***

The Fund uses a three-tier hierarchy to prioritize the assumptions, referred to as inputs, used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels. Level 1 includes quoted prices in active markets for identical investments. Level 2 includes prices determined using other significant observable inputs (including quoted prices for similar investments, interest rates, credit risk, etc.). The independent pricing vendor may value bank loans and debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, and/or other methodologies designed to identify the market value for such securities and such securities are considered Level 2 in the fair value hierarchy. Level 3 includes prices determined using significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). These inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

For the period ended December 31, 2022, there were no transfers between levels.

The following is a summary of the levels used as of December 31, 2022 to value the Fund's investments.

---

| | | | | |
|:---|:---|:---|:---|:---|
| Assets at Value | Level 1 | Level 2 | Level 3 | Total |
| Convertible Preferreds |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Biotechnology | $- | $- | $3981414 | $3981414 |
| &nbsp;&nbsp;&nbsp;Health Care Equipment & Supplies |  |  | 640771 | 640771 |
| &nbsp;&nbsp;&nbsp;Pharmaceuticals |  |  | 6899992 | 6899992 |
| Non-convertible Notes |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Biotechnology |  | 24399259 |  | 24399259 |
| &nbsp;&nbsp;&nbsp;Health Care Equipment & Supplies |  | 24547067 |  | 24547067 |
| &nbsp;&nbsp;&nbsp;Health Care Providers & Services |  | 64049127 |  | 64049127 |
| &nbsp;&nbsp;&nbsp;Healthcare Services |  | 5332368 |  | 5332368 |
| &nbsp;&nbsp;&nbsp;Pharmaceuticals |  | 38271148 |  | 38271148 |
| Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Biotechnology | 126662959 | 20299 |  | 126683258 |
| &nbsp;&nbsp;&nbsp;Health Care Equipment & Supplies | 139147494 |  |  | 139147494 |
| &nbsp;&nbsp;&nbsp;Health Care Providers & Services | 215858154 |  |  | 215858154 |
| &nbsp;&nbsp;&nbsp;Health Care Technology | 5966148 |  |  | 5966148 |
| &nbsp;&nbsp;&nbsp;Healthcare Services | 4668156 |  |  | 4668156 |
| &nbsp;&nbsp;&nbsp;Life Sciences Tools & Services | 55987960 |  |  | 55987960 |
| &nbsp;&nbsp;&nbsp;Medical Devices and Diagnostics | 65317464 |  |  | 65317464 |
| &nbsp;&nbsp;&nbsp;Pharmaceuticals | 295183744 |  |  | 295183744 |
| &nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | 22664984 |  |  | 22664984 |
| Short-term Investments | 94900 | 48695000 |  | 48789900 |
| Milestone Interest |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Biotechnology | - | - | 255581 | 255581 |
| Total | $931551963 | $205314268 | $11777758 | $1148643989 |
| Other Financial Instruments |  |  |  |  |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Call Options Contracts Written | $(1404956) | $- | $- | $(1404956) |
| Total | $(1404956) | $- | $- | $(1404956) |

---

**<u>Tekla Healthcare Opportunities Fund</u>**

**NOTES TO FINANCIAL STATEMENTS**

*December 31, 2022*

*(Unaudited, continued)*

The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Investments in Securities | Balance as of<br> September 30,<br> 2022 | Net realized <br>gain (loss) and <br>change in unrealized<br> appreciation<br> (depreciation) | Cost of<br> purchases <br>and<br> conversions | Proceeds <br>from <br>sales and <br>conversions | Net <br>transfers <br>into <br>(out of) <br>Level 3 | Balance as <br>of December<br> 31, 2022 |
| Convertible Preferreds |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biotechnology | $3981414 | $- | $- | $- | $- | $3981414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Health Care Equipment & Supplies | 640771 |  |  |  |  | 640771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pharmaceuticals | 6899992 |  |  |  |  | 6899992 |
| Milestone Interest |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Biotechnology | 268893 | (13312) | - | - | - | 255581 |
| Total | $11791070 | $(13312) | $- | $- | $- | $11777758 |
| Net change in unrealized appreciation (depreciation) from investments still held as of December 31, 2022 | Net change in unrealized appreciation (depreciation) from investments still held as of December 31, 2022 | Net change in unrealized appreciation (depreciation) from investments still held as of December 31, 2022 | Net change in unrealized appreciation (depreciation) from investments still held as of December 31, 2022 | Net change in unrealized appreciation (depreciation) from investments still held as of December 31, 2022 | Net change in unrealized appreciation (depreciation) from investments still held as of December 31, 2022 | $(13312) |

---

The following is a quantitative disclosure about significant unobservable inputs used in the determination of the fair value of Level 3 assets.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | <br> Fair Value at<br> December 31,<br> 2022 | <br>Valuation Technique | <br>Unobservable Input | <br> Range<br> (Weighted Average) |
| Convertible Preferreds | $11522177 | Transaction price | (a) | N/A |
| Milestone Interest | 255581 | Probability adjusted <br> value | Probability of events<br> Timing of events | 39.00%-99.00% (65.36%)<br> 1.75-12.75 (4.40) years |
|  | $11777758 |  |  |  |

---

(a) The valuation technique used as a basis to approximate fair value of these investments is based on a transaction price or subsequent financing rounds.

***Private Companies and Other Restricted Securities***

The Fund may invest in private companies and other restricted securities if these securities would currently comprise 10% or less of Managed Assets. The value of these securities represented 1% of the Fund's Managed Assets at December 31, 2022.

At December 31, 2022, the Fund had commitments of $833,000 relating to additional investments in one private company.

The following table details the acquisition date, cost, carrying value per unit, and value of the Fund's private companies and other restricted securities at December 31, 2022. The Fund on its own does not have the right to demand that such securities be registered.

**<u>Tekla Healthcare Opportunities Fund</u>**

**NOTES TO FINANCIAL STATEMENTS**

*December 31, 2022*

*(Unaudited, continued)*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Security (#)** | **Acquisition<br> Date** | **Cost** | **Carrying Value<br> per Unit** | **Value** |
| Aristea Therapeutics, Inc. Series B Cvt. Pfd | 07/27/21 | $3399996 | $5.51 | $3399995 |
| Endeavor Biomedicines, Inc. Series B Cvt. Pfd | 01/21/22 | 3504343 | 4.72 | 3499997 |
| Fusion Pharmaceuticals, Inc. Common | 09/20/22 | 0 | 2.84 | 20299 |
| IO Light Holdings, Inc. Series A2 Cvt. Pfd | 04/30/20, 05/17/21, 09/15/21 | 628047 | 3.38 | 640771 |
| Oculis SA |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Series B2 Cvt. Pfd | 01/16/19, 12/23/19 | 2477246 | 10.64 | 3130916 |
| &nbsp;&nbsp;&nbsp;Series C Cvt. Pfd | 04/07/21 | 850498 | 10.64 | 850498 |
| Rainier Therapeutics Milestone Interest | 09/28/21 | 277782 | 255581.00 | 255581 |
|  |  | $11137912 |  | $11798057 |

---

(#) See Schedule of Investments and corresponding footnotes for more information on each issuer. <br> † Interest received as part of a corporate action for a previously owned security.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Tekla Healthcare Opportunities Fund

- **b. Investment Company Act file number:** 811-22955

- **c. CIK number of Registrant:** 0001604522

- **d. LEI of Registrant:** 549300WT8EMZSV1XVW72

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

  - **Street Address 1:** 100 FEDERAL STREET,

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02110

  - **Telephone number:** 617-772-8500

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

- **a. Name of Series:** Tekla Healthcare Opportunities Fund

- **c. LEI of Series:** 549300WT8EMZSV1XVW72

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $1150773100.76

**Total Liabilities:** $232944782.21

**Net Assets:** $917828318.55

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 10.89%               | 5.27%                | -4.77%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $31882.23                | $79038694.83                               |
| Month 2  | $-731748.80              | $40475601.02                               |
| Month 3  | $1585892.44              | $-25158685.35                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Charles River Laboratories International Inc               | Charles River Laboratories International Inc               | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |     30749 | NS      | $6700207.10   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Medical REIT Inc                                    | Global Medical REIT Inc                                    | CUSIP: 37954A204<br>LEI: 549300HFRIPQDYU3GU60 | Long             | EC               |  | US        |     31668 | NS      | $300212.64    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RAINIER THERAPEUTICS, INC.                                 | RAINIER THERAPEUTICS, INC.                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      3729 | NS      | $255580.86    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Omega Healthcare Investors Inc                             | Omega Healthcare Investors Inc                             | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               |  | US        |    235358 | NS      | $6578256.10   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC                                        | Elevance Health Inc                                        | CUSIP: 94973VBJ5<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |  10500000 | PA      | $10246325.25  | 1.12%             | 2024-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                     | INTUITIVE SURGICAL INC                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -76 | NC      | $-50388.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | UNITEDHEALTH GROUP INC                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -168 | NC      | $-119280.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | ABBOTT LABORATORIES                                        | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -579 | NC      | $-97272.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| R1 RCM Inc                                                 | R1 RCM Inc                                                 | CUSIP: 77634L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    132254 | NS      | $1448181.30   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                    | Bristol-Myers Squibb Co                                    | CUSIP: 110122CN6<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7157721.68   | 0.78%             | 2026-06-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Fixed Income Clearing Corp                                 | FIXED INC CLEARING CORP.REPO                               | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |  48695000 | PA      | $48695000.00  | 5.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Rallybio Corp                                              | Rallybio Corp                                              | CUSIP: 75120L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    594616 | NS      | $3906627.12   | 0.43%             |  |  |  | No            |                  1 | On Loan: —       |
| Vertex Pharmaceuticals Inc                                 | Vertex Pharmaceuticals Inc                                 | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |     40299 | NS      | $11637545.22  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | BRISTOL-MYERS SQUIBB CO                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -352 | NC      | $-32736.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                                          | Johnson & Johnson                                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    423717 | NS      | $74849608.05  | 8.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | LABORATORY CORP OF AMERICA HOL                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -29 | NC      | $-3770.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                                     | UnitedHealth Group Inc                                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    171893 | NS      | $91134230.74  | 9.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                                                 | Pfizer Inc                                                 | CUSIP: 717081EC3<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |   3200000 | PA      | $2931659.23   | 0.32%             | 2036-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Merck & Co Inc                                             | Merck & Co Inc                                             | CUSIP: 58933YAX3<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3735634.40   | 0.41%             | 2029-03-07      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                                 | AbbVie Inc                                                 | CUSIP: 00287YAW9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   3080000 | PA      | $2663825.13   | 0.29%             | 2046-05-14      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                     | JOHNSON + JOHNSON                                          | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -415 | NC      | $-67645.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| OCULIS SA SERIES B2 PREFERRED                              | OCULIS SA SERIES B2 PREFERRED                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    294259 | NS      | $3130915.76   | 0.34%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CIGNA CORP                                                 | Cigna Corp                                                 | CUSIP: 125523AH3<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   1504000 | PA      | $1453338.33   | 0.16%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| DH EUROPE FINANCE II                                       | DH Europe Finance II Sarl                                  | CUSIP: 23291KAJ4<br>LEI: 222100KDGL314CKTZ511 | Long             | DBT              | CORP              | LU        |   1760000 | PA      | $1415068.42   | 0.15%             | 2039-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                                                 | AbbVie Inc                                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    238878 | NS      | $38605073.58  | 4.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | STRYKER CORP                                               | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -78 | NC      | $-31980.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | MCKESSON CORP                                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -19 | NC      | $-3306.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                               | Thermo Fisher Scientific Inc                               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     55562 | NS      | $30597437.78  | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | ABBVIE INC                                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -82 | NC      | $-12956.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | MEDTRONIC PLC                                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | IE        |      -299 | NC      | $-28405.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc                                   | Agilent Technologies Inc                                   | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |     43191 | NS      | $6463533.15   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                                                  | Amgen Inc                                                  | CUSIP: 031162CZ1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   2795000 | PA      | $2188077.13   | 0.24%             | 2032-01-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| IO LIGHT HOLDINIGS, INC.                                   | IO LIGHT HOLDINIGS, INC.                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    189858 | NS      | $640770.75    | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Options Clearing Corp.                                     | UNITED THERAPEUTICS CORP                                   | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -22 | NC      | $-14630.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC                                        | Elevance Health Inc                                        | CUSIP: 036752AG8<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   2975000 | PA      | $2856272.42   | 0.31%             | 2028-03-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ARISTEA THERAPEUTICS, INC.                                 | ARISTEA THERAPEUTICS, INC.                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    616645 | NS      | $3399995.54   | 0.37%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Universal Health Realty Income Trust                       | Universal Health Realty Income Trust                       | CUSIP: 91359E105<br>LEI: 549300L4MWZL4IH6H172 | Long             | EC               |  | US        |      3075 | NS      | $146769.75    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                                 | AbbVie Inc                                                 | CUSIP: 00287YBF5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   5303000 | PA      | $5123595.64   | 0.56%             | 2028-11-14      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| IQVIA Inc                                                  | IQVIA Inc                                                  | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   1290000 | PA      | $1229757.00   | 0.13%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                            | AstraZeneca PLC                                            | CUSIP: 046353AD0<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | DBT              | CORP              | GB        |   4750000 | PA      | $5396203.92   | 0.59%             | 2037-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Horizon Therapeutics Plc                                   | Horizon Therapeutics Plc                                   | CUSIP: 000000000<br>LEI: 529900P0GSQ79OOZEV53 | Long             | EC               | CORP              | IE        |     38052 | NS      | $4330317.60   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                              | Medtronic PLC                                              | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    211627 | NS      | $16447650.44  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | HUMANA INC                                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -44 | NC      | $-33880.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                                                 | Zoetis Inc                                                 | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |     89682 | NS      | $13142897.10  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| LABORATORY CORP OF AMER                                    | Laboratory Corp of America Holdings                        | CUSIP: 50540RAQ5<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2033918.31   | 0.22%             | 2025-02-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Boston Scientific Corp                                     | Boston Scientific Corp                                     | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    423270 | NS      | $19584702.90  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc                                 | Zimmer Biomet Holdings Inc                                 | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |    115213 | NS      | $14689657.50  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ResMed Inc                                                 | ResMed Inc                                                 | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |     40610 | NS      | $8452159.30   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                                        | Elevance Health Inc                                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      8200 | NS      | $4206354.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                                                 | Biogen Inc                                                 | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |     22668 | NS      | $6277222.56   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORP                                            | CVS Health Corp                                            | CUSIP: 126650DQ0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   4400000 | PA      | $3464586.31   | 0.38%             | 2031-02-28      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                     | INTUITIVE SURGICAL INC                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -91 | NC      | $-15470.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| FUSION PHARMACEUTICALS, INC.                               | FUSION PHARMACEUTICALS, INC.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7160 | NS      | $20298.60     | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| United Therapeutics Corp                                   | United Therapeutics Corp                                   | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |     22256 | NS      | $6189171.04   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS                                     | Zimmer Biomet Holdings Inc                                 | CUSIP: 98956PAG7<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $4988969.82   | 0.54%             | 2035-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Stryker Corp                                               | Stryker Corp                                               | CUSIP: 863667AQ4<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3333462.34   | 0.36%             | 2028-03-07      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Addus HomeCare Corp                                        | Addus HomeCare Corp                                        | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |     33471 | NS      | $3330029.79   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc                                       | Align Technology Inc                                       | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |     24937 | NS      | $5259213.30   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | BIOGEN INC                                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -17 | NC      | $-12410.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | ALIGN TECHNOLOGY INC                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -16 | NC      | $-17600.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| IQVIA Holdings Inc                                         | IQVIA Holdings Inc                                         | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |     31733 | NS      | $6501774.37   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Moderna Inc                                                | Moderna Inc                                                | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |     38588 | NS      | $6931176.56   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                                               | Stryker Corp                                               | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     81734 | NS      | $19983145.66  | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | IQVIA HOLDINGS INC                                         | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -30 | NC      | $-14850.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC                                        | Elevance Health Inc                                        | CUSIP: 036752AP8<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   5800000 | PA      | $4876622.83   | 0.53%             | 2031-03-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Merck & Co Inc                                             | Merck & Co Inc                                             | CUSIP: 58933YAR6<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2014036.23   | 0.22%             | 2025-02-10      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                     | HCA HEALTHCARE INC                                         | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -63 | NC      | $-13041.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | ALIGN TECHNOLOGY INC                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -16 | NC      | $-9264.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Diversified Healthcare Trust                               | Diversified Healthcare Trust                               | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               |  | US        |    293879 | NS      | $190080.94    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | UNITEDHEALTH GROUP INC                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -168 | NC      | $-79632.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                                            | AstraZeneca PLC                                            | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     16300 | NS      | $1105140.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Corp                                                 | Cigna Corp                                                 | CUSIP: 125523100<br>LEI: 45RS2W538ZOGNWLVIX82 | Long             | EC               | CORP              | US        |    100443 | NS      | $33280783.62  | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | ILLUMINA INC                                               | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -56 | NC      | $-4760.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA CORP                                                 | Cigna Corp                                                 | CUSIP: 125523CD0<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   8250000 | PA      | $8550747.89   | 0.93%             | 2041-11-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                            | CVS Health Corp                                            | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     93621 | NS      | $8724540.99   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                                               | Illumina Inc                                               | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |     57841 | NS      | $11695450.20  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC                                        | Elevance Health Inc                                        | CUSIP: 94973VBK2<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   2325000 | PA      | $2094353.21   | 0.23%             | 2044-08-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| LTC Properties Inc                                         | LTC Properties Inc                                         | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               |  | US        |    135390 | NS      | $4810406.70   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | ASTRAZENECA PLC                                            | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | GB        |      -163 | NC      | $-8150.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | HCA HEALTHCARE INC                                         | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -55 | NC      | $-29205.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | LANTHEUS HOLDINGS INC                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -121 | NC      | $-1815.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | BIOGEN INC                                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -16 | NC      | $-2800.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                            | CVS Health Corp                                            | CUSIP: 126650CZ1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   3700000 | PA      | $3337738.07   | 0.36%             | 2048-03-25      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Guardant Health Inc                                        | Guardant Health Inc                                        | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |     74536 | NS      | $2027379.20   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                             | Merck & Co Inc                                             | CUSIP: 58933YAF2<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | DBT              | CORP              | US        |   4200000 | PA      | $4168634.78   | 0.45%             | 2023-05-18      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| SYNEOS HEALTH INC                                          | Syneos Health Inc                                          | CUSIP: 87166BAA0<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | DBT              | CORP              | US        |   4100000 | PA      | $3298450.00   | 0.36%             | 2029-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                     | STRYKER CORP                                               | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -90 | NC      | $-72000.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Co PLC                                             | Perrigo Co PLC                                             | CUSIP: 000000000<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | IE        |     28292 | NS      | $964474.28    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | BRISTOL-MYERS SQUIBB CO                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -352 | NC      | $-352.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                                 | Sabra Health Care REIT Inc                                 | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               |  | US        |    419879 | NS      | $5219095.97   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | DEXCOM INC                                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -174 | NC      | $-17400.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | MOLINA HEALTHCARE INC                                      | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -36 | NC      | $-28800.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | MEDTRONIC PLC                                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | IE        |      -290 | NC      | $-55100.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | JAZZ PHARMACEUTICALS PLC                                   | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | IE        |       -48 | NC      | $-15840.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                                     | Intuitive Surgical Inc                                     | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     56048 | NS      | $14872336.80  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors Inc                              | National Health Investors Inc                              | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               |  | US        |      5596 | NS      | $292223.12    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                                                   | ICON PLC                                                   | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |      2800 | NS      | $543900.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                                                  | Amgen Inc                                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     74201 | NS      | $19488150.64  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | IDEXX LABORATORIES INC                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -14 | NC      | $-7000.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA CORP                                                 | Cigna Corp                                                 | CUSIP: 125523BX7<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2054230.67   | 0.22%             | 2024-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ENDEAVOR BIOMEDICINES, INC.                                | ENDEAVOR BIOMEDICINES, INC.                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    742138 | NS      | $3499997.02   | 0.38%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Options Clearing Corp.                                     | HUMANA INC                                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -33 | NC      | $-2079.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                                                 | Pfizer Inc                                                 | CUSIP: 717081ET6<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |   8100000 | PA      | $7632479.42   | 0.83%             | 2029-03-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                            | CVS Health Corp                                            | CUSIP: 126650CY4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $1919777.62   | 0.21%             | 2038-03-25      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories                                        | Abbott Laboratories                                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    394798 | NS      | $43344872.42  | 4.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                                        | Abbott Laboratories                                        | CUSIP: 002824BE9<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $2077637.65   | 0.23%             | 2023-11-30      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                     | ABBOTT LABORATORIES                                        | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -660 | NC      | $-151800.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | DEXCOM INC                                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -115 | NC      | $-39560.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                                        | Gilead Sciences Inc                                        | CUSIP: 375558BM4<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9316580.90   | 1.02%             | 2027-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                     | JOHNSON + JOHNSON                                          | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -415 | NC      | $-63910.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| OCULIS SA SERIES C                                         | OCULIS SA SERIES C                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     79934 | NS      | $850497.76    | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Dexcom Inc                                                 | Dexcom Inc                                                 | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |    119329 | NS      | $13512815.96  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                                 | AbbVie Inc                                                 | CUSIP: 00287YAY5<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   3245000 | PA      | $3066383.06   | 0.33%             | 2026-05-14      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                                          | Johnson & Johnson                                          | CUSIP: 478160CK8<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2053452.26   | 0.22%             | 2028-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Pfizer Inc                                                 | Pfizer Inc                                                 | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    944647 | NS      | $48403712.28  | 5.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC                                   | Jazz Pharmaceuticals PLC                                   | CUSIP: 000000000<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |     49859 | NS      | $7943037.29   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Molina Healthcare Inc                                      | Molina Healthcare Inc                                      | CUSIP: 60855R100<br>LEI: 549300NQQCEQ46YHZ591 | Long             | EC               | CORP              | US        |     36738 | NS      | $12131622.36  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc                                   | Sarepta Therapeutics Inc                                   | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |     27171 | NS      | $3520818.18   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC                                     | UnitedHealth Group Inc                                     | CUSIP: 91324PEJ7<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |  10940000 | PA      | $10414931.64  | 1.13%             | 2032-05-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                     | CHARLES RIVER LABORATORIES INT                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -15 | NC      | $-6375.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp                                  | Edwards Lifesciences Corp                                  | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |     93958 | NS      | $7010206.38   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                                  | Argenx SE                                                  | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |     15207 | NS      | $5760867.81   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                                    | Bristol-Myers Squibb Co                                    | CUSIP: 110122CP1<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | DBT              | CORP              | US        |   2100000 | PA      | $1951568.75   | 0.21%             | 2029-07-26      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| 1Life Healthcare Inc                                       | 1Life Healthcare Inc                                       | CUSIP: 68269G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20815 | NS      | $347818.65    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                                        | Abbott Laboratories                                        | CUSIP: 002824BG4<br>LEI: HQD377W2YR662HK5JX27 | Long             | DBT              | CORP              | US        |  10498000 | PA      | $10446580.90  | 1.14%             | 2036-11-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AlerisLife Inc                                             | AlerisLife Inc                                             | CUSIP: 33832D205<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19912 | NS      | $10951.60     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Allscripts Healthcare Solutions Inc                        | Allscripts Healthcare Solutions Inc                        | CUSIP: 01988P108<br>LEI: Y68YJHVB1GU4TAU3C223 | Long             | EC               | CORP              | US        |    338217 | NS      | $5966147.88   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | ACADIA HEALTHCARE CO INC                                   | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -103 | NC      | $-44290.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| AmerisourceBergen Corp                                     | AmerisourceBergen Corp                                     | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     20417 | NS      | $3383301.07   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Option Care Health Inc                                     | Option Care Health Inc                                     | CUSIP: 68404L201<br>LEI: 549300DI3Q5ACSYJRI17 | Long             | EC               | CORP              | US        |     64975 | NS      | $1955097.75   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp                                      | Tenet Healthcare Corp                                      | CUSIP: 88033GCS7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   1132000 | PA      | $1103991.04   | 0.12%             | 2024-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Fusion Pharmaceuticals Inc                                 | Fusion Pharmaceuticals Inc                                 | CUSIP: 36118A100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     14319 | NS      | $45104.85     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | ELI LILLY + CO                                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -156 | NC      | $-95940.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| I-Mab                                                      | I-Mab                                                      | CUSIP: 44975P103<br>LEI: 549300L1A5T19703RR64 | Long             | EC               | CORP              | KY        |     43738 | NS      | $182824.84    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Assertio Holdings Inc                                      | Assertio Holdings Inc                                      | CUSIP: 04546C205<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    410575 | NS      | $1765472.50   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc                                   | Acadia Healthcare Co Inc                                   | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |    105220 | NS      | $8661710.40   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Laboratory Corp of America Holdings                        | Laboratory Corp of America Holdings                        | CUSIP: 50540R409<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | EC               | CORP              | US        |     19824 | NS      | $4668155.52   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                            | CVS Health Corp                                            | CUSIP: 126650CX6<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |    789000 | PA      | $764444.47    | 0.08%             | 2028-03-25      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                     | CIGNA CORP                                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -99 | NC      | $-37125.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| HealthEquity Inc                                           | HealthEquity Inc                                           | CUSIP: 42226A107<br>LEI: 529900LRJU1RAFQHM467 | Long             | EC               | CORP              | US        |     50653 | NS      | $3122250.92   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                                         | HCA Healthcare Inc                                         | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |     58163 | NS      | $13956793.48  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Avantor Inc                                                | Avantor Inc                                                | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    317100 | NS      | $6687639.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corp                                              | McKesson Corp                                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     35038 | NS      | $13143454.56  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                                                 | Humana Inc                                                 | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     45140 | NS      | $23120256.60  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | VERTEX PHARMACEUTICALS INC                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -30 | NC      | $-13500.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | ARGENX SE                                                  | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | NL        |       -22 | NC      | $-6490.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                                      | Lantheus Holdings Inc                                      | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |    130862 | NS      | $6668727.52   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                                               | Danaher Corp                                               | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     64611 | NS      | $17149051.62  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc                              | Regeneron Pharmaceuticals Inc                              | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     11738 | NS      | $8468849.62   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Institutional US Government Money Market Fund | State Street Institutional US Government Money Market Fund | CUSIP: 857492573<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     94900 | NS      | $94900.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc                               | Medical Properties Trust Inc                               | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               |  | US        |    266557 | NS      | $2969444.98   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Health Systems Inc                               | Community Health Systems Inc                               | CUSIP: 203668108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     79635 | NS      | $344023.20    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                                     | UnitedHealth Group Inc                                     | CUSIP: 91324PDP4<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   4970000 | PA      | $4749207.90   | 0.52%             | 2028-12-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Industries Ltd                         | Teva Pharmaceutical Industries Ltd                         | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             | EC               | CORP              | IL        |     77704 | NS      | $708660.48    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | BOSTON SCIENTIFIC CORP                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -221 | NC      | $-16575.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                                | Healthcare Realty Trust Inc                                | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               |  | US        |     25119 | NS      | $484043.13    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                             | Merck & Co Inc                                             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |    330944 | NS      | $36718236.80  | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                                  | Healthpeak Properties Inc                                  | CUSIP: 42250P103<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | EC               |  | US        |     66791 | NS      | $1674450.37   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| STERIS PLC                                                 | STERIS PLC                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |     16669 | NS      | $3078597.61   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                                             | Eli Lilly & Co                                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    158691 | NS      | $58055515.44  | 6.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Galera Therapeutics Inc                                    | Galera Therapeutics Inc                                    | CUSIP: 36338D108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    314430 | NS      | $468500.70    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA CORP                                                 | Cigna Corp                                                 | CUSIP: 125523CM0<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   5800000 | PA      | $4761927.83   | 0.52%             | 2031-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Becton Dickinson and Co                                    | Becton Dickinson and Co                                    | CUSIP: 075887BW8<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |   2413000 | PA      | $2285348.03   | 0.25%             | 2027-06-06      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Catalent Inc                                               | Catalent Inc                                               | CUSIP: 148806102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     89791 | NS      | $4041492.91   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                                     | IDEXX Laboratories Inc                                     | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |     30357 | NS      | $12384441.72  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                     | ELI LILLY + CO                                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -155 | NC      | $-25575.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                                                  | Amgen Inc                                                  | CUSIP: 031162CQ1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2040796.82   | 0.22%             | 2027-11-02      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Bristol-Myers Squibb Co                                    | Bristol-Myers Squibb Co                                    | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    326754 | NS      | $23509950.30  | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                                     | UnitedHealth Group Inc                                     | CUSIP: 91324PDK5<br>LEI: 549300GHBMY8T5GXDE41 | Long             | DBT              | CORP              | US        |   1460000 | PA      | $1400632.15   | 0.15%             | 2028-06-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc                                        | Gilead Sciences Inc                                        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |    176832 | NS      | $15181027.20  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-24

**Name of Applicant:** Tekla Healthcare Opportunities Fund

**Signature:** Laura Woodward

**Name of Signer:** Laura Woodward

**Title:** CCO