# EDGAR Filing Document

**Accession Number:** 0000320351
**File Stem:** 0001752724-25-176762
**Filing Date:** 2025-7
**Character Count:** 87207
**Document Hash:** 7d3f339d1ab73815587dbb48f306bc6c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-176762.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001752724-25-176762

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250724

**PERIOD START**: 20260228

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03114
- **FILM NUMBER:** 251146344

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

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

## Series and Classes Contracts Data

### Biotechnology Portfolio (Series ID: S000007486)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000020460 | Biotechnology Portfolio | FBIOX           |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® Select Portfolios®**

**Biotechnology Portfolio**

**May 31, 2025**

BIO-NPRT1-0725

1.802156.121 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.1%** | &nbsp;&nbsp;**Common Stocks - 99.1%** | &nbsp;&nbsp;**Common Stocks - 99.1%** |
|  | Shares | Value ($)<br>|
| BELGIUM - 2.1%  |  |  |
| Health Care - 2.1% |  |  |
| Pharmaceuticals - 2.1% |  |  |
| UCB SA  | 432274 | 78483000 |
| CANADA - 0.3%  |  |  |
| Health Care - 0.3% |  |  |
| Biotechnology - 0.3% |  |  |
| Xenon Pharmaceuticals Inc (a) | 435264 | 12557366 |
| CHINA - 0.1%  |  |  |
| Health Care - 0.1% |  |  |
| Biotechnology - 0.1% |  |  |
| BeOne Medicines Ltd ADR (a) | 9198 | 2258844 |
| DENMARK - 4.2%  |  |  |
| Health Care - 4.2% |  |  |
| Biotechnology - 3.9% |  |  |
| Ascendis Pharma A/S ADR (a) | 597809 | 97347218 |
| Zealand Pharma A/S (a) | 666430 | 46324355 |
|  |  | 143671573 |
| Life Sciences Tools & Services - 0.3% |  |  |
| Gubra A/S (a) | 198154 | 11796657 |
| TOTAL DENMARK |  | 155468230 |
| FRANCE - 0.2%  |  |  |
| Health Care - 0.2% |  |  |
| Biotechnology - 0.2% |  |  |
| Sensorion SA (a)(b)(c) | 20084030 | 9167374 |
| GERMANY - 0.5%  |  |  |
| Health Care - 0.5% |  |  |
| Biotechnology - 0.5% |  |  |
| BioNTech SE ADR (a) | 175200 | 16785912 |
| IRELAND - 0.2%  |  |  |
| Health Care - 0.2% |  |  |
| Biotechnology - 0.1% |  |  |
| Prothena Corp PLC (a)(b) | 643917 | 2955579 |
| Pharmaceuticals - 0.1% |  |  |
| GH Research PLC (a)(b) | 405900 | 4882977 |
| TOTAL IRELAND |  | 7838556 |
| NETHERLANDS - 4.2%  |  |  |
| Health Care - 4.2% |  |  |
| Biotechnology - 4.2% |  |  |
| Argenx SE ADR (a) | 165004 | 94590193 |
| Merus NV (a) | 708854 | 39745444 |
| Newamsterdam Pharma Co NV (a)(b) | 651100 | 11791421 |
| uniQure NV (a) | 421282 | 6095951 |
|  |  | 152223009 |
| Pharmaceuticals - 0.0% |  |  |
| Pharvaris NV (a) | 90107 | 1495776 |
| TOTAL NETHERLANDS |  | 153718785 |
| SWITZERLAND - 0.8%  |  |  |
| Health Care - 0.8% |  |  |
| Biotechnology - 0.0% |  |  |
| Idorsia Ltd (a)(b) | 289343 | 577280 |
| Pharmaceuticals - 0.8% |  |  |
| Galderma Group AG  | 218820 | 28635375 |
| TOTAL SWITZERLAND |  | 29212655 |
| UNITED KINGDOM - 0.6%  |  |  |
| Health Care - 0.6% |  |  |
| Biotechnology - 0.1% |  |  |
| Immunocore Holdings PLC ADR (a) | 177105 | 6482043 |
| Zura Bio Ltd Class A (a) | 547357 | 552831 |
|  |  | 7034874 |
| Pharmaceuticals - 0.5% |  |  |
| Verona Pharma PLC ADR (a) | 204992 | 16645350 |
| TOTAL UNITED KINGDOM |  | 23680224 |
| UNITED STATES - 85.9%  |  |  |
| Consumer Staples - 0.0% |  |  |
| Consumer Staples Distribution & Retail - 0.0% |  |  |
| MedAvail Holdings Inc (a)(d)(e) | 55 | 0 |
| Health Care - 85.9% |  |  |
| Biotechnology - 81.2% |  |  |
| 89bio Inc (a) | 306400 | 3014976 |
| AbbVie Inc  | 2890989 | 538041963 |
| Absci Corp (a)(b) | 1685096 | 4465504 |
| Akero Therapeutics Inc (a) | 198400 | 9850560 |
| Alector Inc (a) | 3014253 | 4008956 |
| Allena Pharmaceuticals Inc (a)(e) | 93683 | 1 |
| Allogene Therapeutics Inc (a)(b) | 949215 | 1110582 |
| Alnylam Pharmaceuticals Inc (a) | 688403 | 209660018 |
| Amgen Inc  | 1313039 | 378391579 |
| AnaptysBio Inc (a)(b) | 69900 | 1553877 |
| Annexon Inc (a) | 339687 | 692961 |
| Antares Therapeutics Inc (e) | 5166448 | 929961 |
| Apellis Pharmaceuticals Inc (a) | 33522 | 567527 |
| Apogee Therapeutics Inc (a)(b) | 392132 | 14367716 |
| Arcellx Inc (a)(b) | 571900 | 35492114 |
| Arcturus Therapeutics Holdings Inc (a)(b) | 179630 | 2250764 |
| Arcus Biosciences Inc (a) | 1206389 | 10773054 |
| ArriVent Biopharma Inc (a)(b)(c) | 1936217 | 41144611 |
| Arrowhead Pharmaceuticals Inc (a) | 235015 | 3776691 |
| ARS Pharmaceuticals Inc (a)(b) | 944156 | 13624171 |
| Astria Therapeutics Inc (a) | 529856 | 2522115 |
| Astria Therapeutics Inc warrants (a) | 115136 | 127509 |
| aTyr Pharma Inc (a)(b) | 2524394 | 11284041 |
| Avidity Biosciences Inc (a) | 783307 | 24266851 |
| Axcella Health Inc (a)(e) | 66454 | 0 |
| Beam Therapeutics Inc (a)(b) | 247214 | 3913398 |
| Bicara Therapeutics Inc  | 43100 | 398675 |
| BioCryst Pharmaceuticals Inc (a) | 391081 | 4204121 |
| Biohaven Ltd (a) | 1044444 | 15468216 |
| Biomea Fusion Inc (a)(b) | 392129 | 564666 |
| Blueprint Medicines Corp (a) | 344652 | 34930480 |
| Bridgebio Pharma Inc (a) | 733804 | 25132787 |
| CAMP4 Therapeutics Corp (b) | 271886 | 538334 |
| Candel Therapeutics Inc (a)(b)(c) | 5544979 | 30220136 |
| Cartesian Therapeutics Inc (a)(b) | 675954 | 6462120 |
| Cartesian Therapeutics Inc rights (a)(e) | 5385728 | 1508004 |
| Centessa Pharmaceuticals PLC ADR (a)(b) | 2976494 | 40212434 |
| CG oncology Inc (a) | 230476 | 5904795 |
| Chinook Therapeutics Inc rights (a)(e) | 115821 | 1 |
| Cogent Biosciences Inc (a) | 1073294 | 5838719 |
| Crinetics Pharmaceuticals Inc (a) | 919404 | 28051016 |
| Cyclerion Therapeutics Inc (a)(d) | 4740 | 13888 |
| Cytokinetics Inc (a) | 90552 | 2808923 |
| Day One Biopharmaceuticals Inc (a)(b) | 865766 | 5523587 |
| Denali Therapeutics Inc (a) | 498763 | 6603622 |
| Design Therapeutics Inc (a)(b) | 839131 | 3129959 |
| Dianthus Therapeutics Inc (a) | 153693 | 2672721 |
| Disc Medicine Inc (a) | 883788 | 41255224 |
| Disc Medicine Inc rights (a)(e) | 1555907 | 15 |
| Dyne Therapeutics Inc (a) | 1708444 | 20432990 |
| Entrada Therapeutics Inc (a) | 42269 | 321244 |
| Exact Sciences Corp (a) | 64200 | 3613176 |
| Exelixis Inc (a) | 532154 | 22903908 |
| Foghorn Therapeutics Inc (a) | 74520 | 304042 |
| Geron Corp (a) | 2069812 | 3146114 |
| Geron Corp warrants 12/31/2025 (a) | 2100000 | 399000 |
| Gilead Sciences Inc  | 3033911 | 333972923 |
| GlycoMimetics Inc (d)(e)(f) | 12099897 | 2309386 |
| Gossamer Bio Inc (a)(b) | 7574608 | 8407815 |
| Gritstone Bio Inc warrants (a)(e) | 1333333 | 12 |
| Ideaya Biosciences Inc (a) | 637957 | 12688965 |
| Immunome Inc (a) | 138379 | 1212200 |
| Immunovant Inc (a) | 825221 | 12254532 |
| Inhibikase Therapeutics Inc (a)(b) | 144170 | 289782 |
| Insmed Inc (a) | 929219 | 64794441 |
| Intellia Therapeutics Inc (a)(b) | 791921 | 5440497 |
| Ionis Pharmaceuticals Inc (a) | 500777 | 16781037 |
| Jade Biosciences Inc (d) | 218307 | 1582726 |
| Janux Therapeutics Inc (a) | 372299 | 8860716 |
| Keros Therapeutics Inc (a) | 243078 | 3439554 |
| Korro Bio Inc (a)(d) | 32866 | 375330 |
| Krystal Biotech Inc (a)(b)(c) | 1855422 | 233708955 |
| Kymera Therapeutics Inc (a)(b) | 164541 | 4876995 |
| Legend Biotech Corp ADR (a) | 91610 | 2652110 |
| Lexicon Pharmaceuticals Inc (a)(b) | 1542000 | 966217 |
| Madrigal Pharmaceuticals Inc (a)(b) | 57395 | 15798548 |
| MannKind Corp (a) | 3933901 | 16325689 |
| Metsera Inc (g) | 717747 | 19178200 |
| Metsera Inc  | 43800 | 1170336 |
| Moderna Inc (a) | 784822 | 20844872 |
| MoonLake Immunotherapeutics Class A (a)(b) | 510858 | 19928571 |
| Natera Inc (a) | 339132 | 53491290 |
| Nurix Therapeutics Inc (a) | 533546 | 5671594 |
| Nuvalent Inc Class A (a) | 268899 | 20062554 |
| Oruka Therapeutics Inc  | 704983 | 7726614 |
| Perspective Therapeutics Inc (a) | 713700 | 1834209 |
| Protagonist Therapeutics Inc (a)(b) | 498513 | 23664412 |
| PTC Therapeutics Inc (a) | 309811 | 15032030 |
| Regeneron Pharmaceuticals Inc  | 78596 | 38534047 |
| Replimune Group Inc (a) | 202922 | 1822240 |
| Revolution Medicines Inc (a) | 385998 | 15208321 |
| Rezolute Inc/old (a) | 640784 | 2640030 |
| Rhythm Pharmaceuticals Inc (a) | 157703 | 9671925 |
| Roivant Sciences Ltd (a)(b) | 1075619 | 11821053 |
| Sana Biotechnology Inc (a) | 310707 | 674234 |
| Scholar Rock Holding Corp (a) | 1632599 | 47361697 |
| Scholar Rock Holding Corp warrants 12/31/2025 (a)(d) | 17850 | 389861 |
| Soleno Therapeutics Inc (a) | 132100 | 9689535 |
| Solid Biosciences Inc (a)(b) | 3172860 | 10184881 |
| Spyre Therapeutics Inc (a) | 284853 | 4352554 |
| Stoke Therapeutics Inc (a)(b) | 1235246 | 11784247 |
| Summit Therapeutics Inc (a)(b) | 1687478 | 30737412 |
| Taysha Gene Therapies Inc (a)(b) | 3804276 | 10309588 |
| Tectonic Therapeutic Inc (a) | 442889 | 9526542 |
| TG Therapeutics Inc (a)(b) | 921178 | 32342560 |
| Twist Bioscience Corp (a) | 132425 | 3880053 |
| Tyra Biosciences Inc (a) | 27302 | 248448 |
| Ultragenyx Pharmaceutical Inc (a) | 658289 | 22401575 |
| United Therapeutics Corp (a) | 69693 | 22221613 |
| Upstream Bio Inc  | 385657 | 3559614 |
| Vaxcyte Inc (a) | 734380 | 23860006 |
| Vera Therapeutics Inc Class A (a) | 457025 | 8660624 |
| Vertex Pharmaceuticals Inc (a) | 106309 | 46993893 |
| Viking Therapeutics Inc (a)(b) | 522657 | 14007208 |
| Vir Biotechnology Inc (a)(b) | 169100 | 835354 |
| Viridian Therapeutics Inc (a) | 866828 | 12066246 |
| vTv Therapeutics Inc Class A (a)(b)(c) | 178200 | 2831598 |
| Zenas Biopharma Inc  | 186100 | 1771672 |
|  |  | 2974126160 |
| Health Care Equipment & Supplies - 0.0% |  |  |
| Aradigm Corp (a)(d)(e) | 148009 | 2 |
| Aradigm Corp (a)(e) | 11945 | 0 |
| Glaukos Corp (a) | 5700 | 537453 |
| Novocure Ltd (a) | 11113 | 212369 |
|  |  | 749824 |
| Health Care Providers & Services - 0.1% |  |  |
| Scorpion Therapeutics Inc (e) | 5166448 | 1704928 |
| Scorpion Therapeutics Inc (e) | 5166448 | 206658 |
| Scorpion Therapeutics Inc (e) | 5166448 | 52 |
| Scorpion Therapeutics Inc rights 3/5/2040 (a)(e) | 5166448 | 2841546 |
|  |  | 4753184 |
| Health Care Technology - 0.2% |  |  |
| Schrodinger Inc/United States (a)(b) | 333401 | 7208130 |
| Pharmaceuticals - 4.4% |  |  |
| Adimab LLC (a)(d)(e)(h) | 1954526 | 30060610 |
| Adimab LLC (a)(d)(e)(h) | 1954526 | 9401270 |
| Amylyx Pharmaceuticals Inc (a) | 1211075 | 6237036 |
| Axsome Therapeutics Inc (a) | 137103 | 14417751 |
| Corcept Therapeutics Inc (a) | 732146 | 56785244 |
| Edgewise Therapeutics Inc (a) | 225721 | 3223296 |
| Enliven Therapeutics Inc (a) | 318138 | 5653312 |
| Harmony Biosciences Holdings Inc (a) | 64425 | 2222663 |
| LENZ Therapeutics Inc (a)(b) | 80958 | 2363974 |
| Maze Therapeutics Inc (b) | 148600 | 1487486 |
| Nuvation Bio Inc Class A (a)(b) | 5827833 | 12355006 |
| Ocular Therapeutix Inc (a)(b) | 280900 | 2250009 |
| Optinose Inc warrants 11/23/2027 (a)(e) | 91712 | 1793 |
| Rapport Therapeutics Inc (a)(b) | 171063 | 1414691 |
| Structure Therapeutics Inc ADR (a) | 424864 | 9245041 |
| WaVe Life Sciences Ltd (a) | 380016 | 2283896 |
|  |  | 159403078 |
| TOTAL HEALTH CARE |  | 3146240376 |
| TOTAL UNITED STATES |  | 3146240376 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $2,518,328,609) |  | <br> **3635411322** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Convertible Preferred Stocks - 0.8%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.8%** | &nbsp;&nbsp;**Convertible Preferred Stocks - 0.8%** |
|  | Shares | Value ($)<br>|
| UNITED STATES - 0.8%  |  |  |
| Health Care - 0.8% |  |  |
| Biotechnology - 0.8% |  |  |
| Cardurion Pharmaceuticals Inc Series B (d)(e) | 1020908 | 4134677 |
| ElevateBio LLC Series C (a)(d)(e) | 216600 | 426702 |
| National Resilience Inc Series B (a)(d)(e) | 732064 | 15212291 |
| Neurona Therapeutics Inc Series F (d)(e) | 1618100 | 3333286 |
| Saliogen Therapeutics Inc Series B (a)(d)(e) | 94461 | 1 |
| Triveni Bio Inc Series B (d)(e) | 7167431 | 6092316 |
|  |  | 29199273 |
| Health Care Technology - 0.0% |  |  |
| Candid Therapeutics Series B (d)(e) | 1666667 | 1650000 |
| Pharmaceuticals - 0.0% |  |  |
| Afferent Pharmaceuticals Inc Series C (a)(d)(e) | 8274568 | 83 |
| TOTAL HEALTH CARE |  | 30849356 |
| <br> **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $38,741,936) |  | <br> **30849356** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Money Market Funds - 5.9%** | &nbsp;&nbsp;**Money Market Funds - 5.9%** | &nbsp;&nbsp;**Money Market Funds - 5.9%** | &nbsp;&nbsp;**Money Market Funds - 5.9%** |
|  | Yield (%) | Shares | Value ($)<br>|
| Fidelity Cash Central Fund (i) | 4.32 | 712866 | 713008 |
| Fidelity Securities Lending Cash Central Fund (i)(j) | 4.32 | 214776303 | 214797781 |
| <br> **TOTAL MONEY MARKET FUNDS**<br> (Cost $215,494,576) |  |  | **215510789** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 105.8%**<br> (Cost $2,772,565,121)<br>| <br>**3881771467** |
| **NET OTHER ASSETS (LIABILITIES) - (5.8)%**  | **(213705935)** |
| **NET ASSETS - 100.0%** | **3668065532** |

---

**Legend**

(a) Non-income producing

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

(c) Affiliated company

(d) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $74,982,427 or 2.0% of net assets.

(e) Level 3 security

(f) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(g) Security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted market price of the equivalent equity security. At the end of the period, the total value of unadjusted equity securities subject to contractual sale restrictions is $19,178,200 with varying restriction expiration dates. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.

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

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

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

At period end, the value of non-cash collateral for securities on loan amounted to $6,892,544.

---

| | | |
|:---|:---|:---|
| Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: | Additional information on each restricted holding is as follows: |
| Security | Acquisition Date | Acquisition Cost ($)<br>|
| Adimab LLC | 9/17/14 - 6/05/15 | 7973065 |
| Adimab LLC | 9/17/14 - 6/05/15 | 23547619 |
| Afferent Pharmaceuticals Inc Series C | 7/01/15 | 0 |
| Candid Therapeutics Series B | 8/27/24 | 2000000 |
| Cardurion Pharmaceuticals Inc Series B | 7/10/24 | 4999999 |
| Cyclerion Therapeutics Inc | 4/02/19 | 1404026 |
| ElevateBio LLC Series C | 3/09/21 | 908637 |
| GlycoMimetics Inc | 10/28/24 | 1500000 |
| Jade Biosciences Inc | 10/30/24 | 2054994 |
| Korro Bio Inc | 7/14/23 | 1854573 |
| MedAvail Holdings Inc | 7/02/12 | 416675 |
| National Resilience Inc Series B | 12/01/20 | 9999994 |
| Neurona Therapeutics Inc Series F | 3/28/25 | 3333286 |
| Saliogen Therapeutics Inc Series B | 12/10/21 | 10000019 |
| Scholar Rock Holding Corp warrants 12/31/2025 | 6/17/22 | 0 |
| Triveni Bio Inc Series B | 9/19/24 | 7500000 |

---

---

| | |
|:---|:---|
| Additional information on each lock-up restriction is as follows: | Additional information on each lock-up restriction is as follows: |
| Security | Restriction Expiration Date |
| Metsera Inc | 7/30/2025 |

---

**Affiliated Central Funds**

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  | % ownership,<br> end<br> of period |
| Fidelity Cash Central Fund | 4965969 | 93314710 | 97567671 | 47305 | - | - | 713008 | 712866 | 0.0% |
| Fidelity Securities Lending Cash Central Fund | 197694357 | 389390983 | 372287559 | 420658 | - | - | 214797781 | 214776303 | 0.7% |
| Total | 202660326 | 482705693 | 469855230 | 467963 | - | - | 215510789 |  |  |

---

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

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

**Other Affiliated Issuers**

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

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Affiliate  | Value,<br> beginning<br> of period ($) | Purchases ($) | Sales<br> Proceeds ($) | Dividend<br> Income ($) | Realized<br> Gain (loss) ($) | Change in<br> Unrealized<br> appreciation<br> (depreciation) ($) | Value,<br> end<br> of period ($) | <br>Shares,<br> end<br> of period  |
| ArriVent Biopharma Inc | 46452675 | - | 695521 | - | (80273) | (4532270) | 41144611 | 1936217 |
| Candel Therapeutics Inc | 49766187 | - | - | - | - | (19546051) | 30220136 | 5544979 |
| Krystal Biotech Inc | 336581669 | - | 3761681 | - | 2089180 | (101200213) | 233708955 | 1855422 |
| Sensorion SA | 12663941 | - | 41282 | - | (351552) | (3103733) | 9167374 | 20084030 |
| vTv Therapeutics Inc Class A | 3474900 | - | - | - | - | (643302) | 2831598 | 178200 |
| Total | 448939372 | - | 4498484 | - | 1657355 | (129025569) | 317072674 |  |

---

**Investment Valuation**

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

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

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

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

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

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

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

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

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

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

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

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Fidelity Select Portfolios

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

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

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

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

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

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

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

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

- **a. Name of Series:** Select Biotechnology Portfolio

- **b. EDGAR series identifier (if any):** S000007486

- **c. LEI of Series:** FQDPG178WXRZSXLIRG32

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

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

- **b. Date as of which information is reported:** 2025-05-31

**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:** $3880398721.03

**Total Liabilities:** $211399997.93

**Net Assets:** $3668998723.10

**Delayed Delivery Securities:** $1500000.03

**Cash Not Reported:** $16019.99

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000020460 | -5.04%               | -0.87%               | -4.89%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $20417607.59             | $-236669724.22                             |
| Month 2  | $21204752.57             | $-64747148.71                              |
| Month 3  | $56115870.10             | $-246863293.83                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHINOOK THERAPEUTICS INC           | CHINOOK THERAPEUTICS INC CVR RT                                  | CUSIP: N/A<br>LEI: 549300X0O3003W5QYQ48       | Long             | EC               | CORP              | US        |    115821 | NS      | $1.16         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| UPSTREAM BIO INC                   | UPSTREAM BIO INC                                                 | CUSIP: 91678A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    385657 | NS      | $3559614.11   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEAYA BIOSCIENCES INC             | IDEAYA BIOSCIENCES                                               | CUSIP: 45166A102<br>LEI: 549300ULW08F62IJML11 | Long             | EC               | CORP              | US        |    637957 | NS      | $12688964.73  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NEURONA THERAPEUTICS INC           | NEURONA THERAPEUTICS INC SER F PC PERP PP                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   1618100 | NS      | $3333286.00   | 0.09%             |  |  |  | Yes           |                  3 | On Loan: No      |
| EXELIXIS INC                       | EXELIXIS INC                                                     | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    514854 | NS      | $22159316.16  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| TWIST BIOSCIENCE CORP              | TWIST BIOSCIENCE CORP                                            | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |    132425 | NS      | $3880052.50   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| DIANTHUS THERAPEUTICS INC          | DIANTHUS THERAPEUTICS INC                                        | CUSIP: 252828108<br>LEI: 549300Z3N6ODPCOFC890 | Long             | EC               | CORP              | US        |    153693 | NS      | $2672721.27   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOCRYST PHARMACEUTICALS INC       | BIOCRYST PHARMACEUTICALS INC                                     | CUSIP: 09058V103<br>LEI: 549300Z0INP1Z5NP6J59 | Long             | EC               | CORP              | US        |    391081 | NS      | $4204120.75   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED THERAPEUTICS CORP DEL       | UNITED THERAPEUTICS CORP DEL                                     | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |     69693 | NS      | $22221613.05  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| METSERA INC                        | METSERA INC 180-DAY LOCK-UP LINE 07/30/2025                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    717747 | NS      | $19178199.84  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| AMGEN INC                          | AMGEN INC                                                        | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |   1313039 | NS      | $378391579.02 | 10.31%            |  |  |  | No            |                  1 | On Loan: No      |
| AXSOME THERAPEUTICS INC            | AXSOME THERAPEUTICS INC                                          | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |    137103 | NS      | $14417751.48  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ABBVIE INC                         | ABBVIE INC                                                       | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |   2553889 | NS      | $475304281.79 | 12.95%            |  |  |  | No            |                  1 | On Loan: No      |
| ENTRADA THERAPEUTICS INC           | ENTRADA THERAPEUTICS INC                                         | CUSIP: 29384C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42269 | NS      | $321244.40    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BLUEPRINT MEDICINES CORP           | BLUEPRINT MEDICINES CORP                                         | CUSIP: 09627Y109<br>LEI: 5299004CC60O9T5HVM83 | Long             | EC               | CORP              | US        |    344652 | NS      | $34930480.20  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MANNKIND CORP                      | MANNKIND CORP                                                    | CUSIP: 56400P706<br>LEI: 213800GFBCNY1ZFST722 | Long             | EC               | CORP              | US        |   3933901 | NS      | $16325689.15  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| TRIVENI BIO INC                    | TRIVENI BIO INC SERIES B PC PP                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   7167431 | NS      | $6092316.35   | 0.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GUBRA A/S                          | GUBRA A/S                                                        | CUSIP: N/A<br>LEI: 254900T17RRFZONO6W53       | Long             | EC               | CORP              | DK        |    198154 | NS      | $11796656.84  | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| AFFERENT PHARMA                    | AFFERENT PHARMACEUTICALS INC SER C PC PP                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   8274568 | NS      | $82.75        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| LENZ THERAPEUTICS INC              | LENZ THERAPEUTICS INC                                            | CUSIP: 52635N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80958 | NS      | $2363973.60   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| CENTESSA PHARMACEUTICALS PLC       | CENTESSA PHARMACEUTICALS LTD ADR                                 | CUSIP: 152309100<br>LEI: 213800GIDAARDSKOI827 | Long             | EC               | CORP              | GB        |   2976494 | NS      | $40212433.94  | 1.10%             |  |  |  | No            |                  1 | On Loan: —       |
| FOGHORN THERAPEUTICS INC           | FOGHORN THERAPEUTICS INC                                         | CUSIP: 344174107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     74520 | NS      | $304041.60    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TG THERAPEUTICS INC                | TG THERAPEUTICS INC                                              | CUSIP: 88322Q108<br>LEI: 529900X21UKABN9NJ529 | Long             | EC               | CORP              | US        |    921178 | NS      | $32342559.58  | 0.88%             |  |  |  | No            |                  1 | On Loan: —       |
| CRINETICS PHARMACEUTICALS INC      | CRINETICS PHARMACEUTICALS INC                                    | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |    919404 | NS      | $28051016.04  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ABSCI CORP                         | ABSCI CORP                                                       | CUSIP: 00091E109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1685096 | NS      | $4465504.40   | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| ASTRIA THERAPEUTICS INC            | ASTRIA THERAPEUTICS INC                                          | CUSIP: 04635X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    529856 | NS      | $2522114.56   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BICARA THERAPEUTICS INC            | BICARA THERAPEUTICS INC                                          | CUSIP: 055477103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43100 | NS      | $398675.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| GERON CORP                         | GERON CORP WT 07/02/2024                                         | CUSIP: 374163129<br>LEI: 549300T282D7Z2YESL90 | Long             | EC               | CORP              | US        |   2100000 | NS      | $399000.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BIO AB HOLDINGS LLC                | BIO AB2 HOLDINGS LLC ADI                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   1954526 | NS      | $9401270.06   | 0.26%             |  |  |  | Yes           |                  3 | On Loan: No      |
| IMMUNOCORE HOLDINGS PLC            | IMMUNOCORE HOLDINGS LTD ADR                                      | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |    177105 | NS      | $6482043.00   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KORRO BIO INC                      | KORRO BIO INC PIPE                                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     32866 | NS      | $375329.72    | 0.01%             |  |  |  | Yes           |                  1 | On Loan: No      |
| INTELLIA THERAPEUTICS INC          | INTELLIA THERAPEUTICS INC                                        | CUSIP: 45826J105<br>LEI: 5493002T5BCPE5DZC723 | Long             | EC               | CORP              | US        |    791921 | NS      | $5440497.27   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| REGENERON PHARMACEUTICALS INC      | REGENERON PHARMACEUTICALS INC                                    | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |    225696 | NS      | $110654234.88 | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWAMSTERDAM PHARMA COMPANY NV     | NEWAMSTERDAM PHARMA COMPANY NV                                   | CUSIP: N/A<br>LEI: 984500B6549TF6E14D36       | Long             | EC               | CORP              | NL        |    651100 | NS      | $11791421.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| SALIOGEN THERAPEUTICS INC          | SALIOGEN THERAPEUTICS INC SER B PC PP                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |     94461 | NS      | $0.94         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GLYCOMIMETICS INC                  | CRESCENT BIOPHARMA INC PIPE                                      | CUSIP: N/A<br>LEI: 549300TZ84FFU2J2J459       | Long             | EC               | CORP              | US        |  12099897 | NS      | $2309386.34   | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| DISC MEDICINE INC                  | DISC MEDICINE INC                                                | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    883788 | NS      | $41255223.84  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| PROTHENA CORP PLC                  | PROTHENA CORP PLC                                                | CUSIP: N/A<br>LEI: 5299009ZXQ8NIIJ8OL30       | Long             | EC               | CORP              | IE        |    643917 | NS      | $2955579.03   | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| AMYLYX PHARMACEUTICALS INC         | AMYLYX PHARMACEUTICALS INC                                       | CUSIP: 03237H101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1211075 | NS      | $6237036.25   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ARROWHEAD PHARMACEUTICALS INC      | ARROWHEAD PHARMACEUTICALS INC                                    | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |    235015 | NS      | $3776691.05   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| KRYSTAL BIOTECH INC                | KRYSTAL BIOTECH INC                                              | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |   1855422 | NS      | $233708955.12 | 6.37%             |  |  |  | No            |                  1 | On Loan: —       |
| GH RESEARCH PLC                    | GH RESEARCH PLC                                                  | CUSIP: N/A<br>LEI: 875500HKJS7QQG6EWH62       | Long             | EC               | CORP              | IE        |    405900 | NS      | $4882977.00   | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| CARDURION PHARMACEUTICALS INC      | CARDURION PHARMACEUTICALS INC SER B PC PP                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   1020908 | NS      | $4134677.40   | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MOONLAKE IMMUNOTHERAPEUTICS        | MOONLAKE IMMUNOTHERAPEUTICS                                      | CUSIP: 61559X104<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    510858 | NS      | $19928570.58  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ARADIGM CORP                       | ARADIGM CORP PIPE                                                | CUSIP: N/A<br>LEI: 549300I46MRQ1CGCIY65       | Long             | EC               | CORP              | US        |    148009 | NS      | $1.48         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| ORUKA THERAPEUTICS INC             | ORUKA THERAPEUTICS INC                                           | CUSIP: 687604108<br>LEI: 529900TG7O4ESUDMGI54 | Long             | EC               | CORP              | US        |    704983 | NS      | $7726613.68   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHOLAR ROCK HOLDING CORP          | SCHOLAR ROCK HOLDING CORP                                        | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |   1632599 | NS      | $47361696.99  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SANA BIOTECHNOLOGY INC             | SANA BIOTECHNOLOGY INC                                           | CUSIP: 799566104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    310707 | NS      | $674234.19    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NURIX THERAPEUTICS INC             | NURIX THERAPEUTICS INC                                           | CUSIP: 67080M103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    533546 | NS      | $5671593.98   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ARS PHARMACEUTICALS INC            | ARS PHARMACEUTICALS INC                                          | CUSIP: 82835W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    944156 | NS      | $13624171.08  | 0.37%             |  |  |  | No            |                  1 | On Loan: —       |
| KEROS THERAPEUTICS INC             | KEROS THERAPEUTICS                                               | CUSIP: 492327101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    243078 | NS      | $3439553.70   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| GRITSTONE BIO INC                  | GRITSTONE BIO INC WT                                             | CUSIP: N/A<br>LEI: 5493003TER6KY3MUVY84       | Long             | EC               | CORP              | US        |   1333333 | NS      | $13.33        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| APELLIS PHARMACEUTICALS INC        | APELLIS PHARMACEUTICALS INC                                      | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |     33522 | NS      | $567527.46    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BIO AB HOLDINGS LLC                | BIO AB2 HOLDINGS LLC ARC                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   1954526 | NS      | $30060609.88  | 0.82%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SOLID BIOSCIENCES INC              | SOLID BIOSCIENCES INC                                            | CUSIP: 83422E204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3172860 | NS      | $10184880.60  | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| ARGENX SE                          | ARGENX SE SPONSORED ADR                                          | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |    165004 | NS      | $94590193.04  | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CAMP4 THERAPEUTICS CORP            | CAMP4 THERAPEUTICS CORP                                          | CUSIP: 13463J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    271886 | NS      | $538334.28    | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| REPLIMUNE GROUP INC                | REPLIMUNE GROUP INC                                              | CUSIP: 76029N106<br>LEI: 549300AY704NEIRC4K64 | Long             | EC               | CORP              | US        |    202922 | NS      | $1822239.56   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CYCLERION THERAPEUTICS INC         | CYCLERION THERAPEUTICS INC PP PIPE                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      4740 | NS      | $13888.20     | 0.00%             |  |  |  | Yes           |                  1 | On Loan: No      |
| EDGEWISE THERAPEUTICS INC          | EDGEWISE THERAPEUTICS INC                                        | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    225721 | NS      | $3223295.88   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| DESIGN THERAPEUTICS INC            | DESIGN THERAPEUTICS INC                                          | CUSIP: 25056L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    839131 | NS      | $3129958.63   | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| ULTRAGENYX PHARMACEUTICAL INC      | ULTRAGENYX PHARMA INC                                            | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |    647289 | NS      | $22027244.67  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SENSORION SA                       | SENSORION SA                                                     | CUSIP: N/A<br>LEI: 969500P0W8XJ9CGZDP97       | Long             | EC               | CORP              | FR        |  20084030 | NS      | $9167373.56   | 0.25%             |  |  |  | No            |                  1 | On Loan: —       |
| CARTESIAN THERAPEUTICS INC         | CARTESIAN THERAPEUTICS INC                                       | CUSIP: 816212302<br>LEI: 529900NMN0LACZOL7C43 | Long             | EC               | CORP              | US        |    675954 | NS      | $6462120.24   | 0.18%             |  |  |  | No            |                  1 | On Loan: —       |
| VTV THERAPEUTICS INC               | VTV THERAPEUTICS INC CL A                                        | CUSIP: 918385204<br>LEI: 549300WQE5EI9R35SE66 | Long             | EC               | CORP              | US        |    178200 | NS      | $2831598.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| TECTONIC THERAPEUTIC INC           | TECTONIC THERAPEUTIC INC                                         | CUSIP: 878972108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    442889 | NS      | $9526542.39   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDAVAIL HOLDINGS INC              | MEDAVAIL HOLDINGS INC PIPE                                       | CUSIP: N/A<br>LEI: 549300ZNQGSJ2V3ZB668       | Long             | EC               | CORP              | US        |        55 | NS      | $0.01         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| TYRA BIOSCIENCES INC               | TYRA BIOSCIENCES INC                                             | CUSIP: 90240B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27302 | NS      | $248448.20    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PERSPECTIVE THERAPEUTICS INC       | PERSPECTIVE THERAPEUTICS INC                                     | CUSIP: 46489V302<br>LEI: 5493005LRKM6BCABC605 | Long             | EC               | CORP              | US        |    713700 | NS      | $1834209.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SCORPION THERAPEUTICS INC          | SCORPION THERAPEUTICS INC INDEMNITY ESCROW LINE                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   5166448 | NS      | $1704927.84   | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| IMMUNOME INC                       | IMMUNOME INC                                                     | CUSIP: 45257U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    138379 | NS      | $1212200.04   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ARADIGM CORP                       | ARADIGM CORP                                                     | CUSIP: N/A<br>LEI: 549300I46MRQ1CGCIY65       | Long             | EC               | CORP              | US        |     11945 | NS      | $0.12         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NOVOCURE LTD                       | NOVOCURE LTD                                                     | CUSIP: N/A<br>LEI: 213800YPP55UMHWA4826       | Long             | EC               | CORP              | JE        |     11113 | NS      | $212369.43    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIQURE N.V.                       | UNIQURE N.V.                                                     | CUSIP: N/A<br>LEI: 724500RPCTZLFYJZ3S98       | Long             | EC               | CORP              | NL        |    421282 | NS      | $6095950.54   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AVIDITY BIOSCIENCES INC            | AVIDITY BIOSCIENCES                                              | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    747307 | NS      | $23151570.86  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| BIONTECH SE                        | BIONTECH SE ADR                                                  | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |    175200 | NS      | $16785912.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| JANUX THERAPEUTICS INC             | JANUX THERAPEUTICS INC                                           | CUSIP: 47103J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    372299 | NS      | $8860716.20   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLOGENE THERAPEUTICS INC          | ALLOGENE THERAPEUTICS INC                                        | CUSIP: 019770106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    949215 | NS      | $1110581.55   | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| ENLIVEN THERAPEUTICS INC           | ENLIVEN THERAPEUTICS INC                                         | CUSIP: 29337E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    318138 | NS      | $5653312.26   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| SCORPION THERAPEUTICS INC          | SCORPION THERAPEUTICS INC ADJUSTMENT ESCROW LINE                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   5166448 | NS      | $206657.92    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| ANTARES THERAPEUTICS INC           | ANTARES THERAPEUTICS INC                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   5166448 | NS      | $929960.64    | 0.03%             |  |  |  | No            |                  3 | On Loan: No      |
| CARTESIAN THERAPEUTICS INC         | CARTESIAN THERAPEUTICS INC CVR RT                                | CUSIP: 816212112<br>LEI: 529900NMN0LACZOL7C43 | Long             | EC               | CORP              | US        |   5385728 | NS      | $1508003.84   | 0.04%             |  |  |  | No            |                  3 | On Loan: No      |
| REVOLUTION MEDICINES INC           | REVOLUTION MEDICINES INC                                         | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |    385998 | NS      | $15208321.20  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIDGEBIO PHARMA INC               | BRIDGEBIO PHARMA INC                                             | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |    733804 | NS      | $25132787.00  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| GOSSAMER BIO INC                   | GOSSAMER BIO INC                                                 | CUSIP: 38341P102<br>LEI: 549300ZOC0N2W6PSFR58 | Long             | EC               | CORP              | US        |   7574608 | NS      | $8407814.88   | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| NUVATION BIO INC                   | NUVATION BIO INC                                                 | CUSIP: 67080N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   5827833 | NS      | $12355005.96  | 0.34%             |  |  |  | No            |                  1 | On Loan: —       |
| SCHRODINGER INC                    | SCHRODINGER INC                                                  | CUSIP: 80810D103<br>LEI: 984500044BAE4791E559 | Long             | EC               | CORP              | US        |    333401 | NS      | $7208129.62   | 0.20%             |  |  |  | No            |                  1 | On Loan: —       |
| VAXCYTE INC                        | VAXCYTE INC                                                      | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |    734380 | NS      | $23860006.20  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| MODERNA INC                        | MODERNA INC                                                      | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |    784822 | NS      | $20844872.32  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| VIRIDIAN THERAPEUTICS INC          | VIRIDIAN THERAPEUTICS INC                                        | CUSIP: 92790C104<br>LEI: 549300C775BNYF550E70 | Long             | EC               | CORP              | US        |    866828 | NS      | $12066245.76  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| SOLENO THERAPEUTICS INC            | SOLENO THERAPEUTICS INC                                          | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |    132100 | NS      | $9689535.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SPYRE THERAPEUTICS INC             | SPYRE THERAPEUTICS INC                                           | CUSIP: 00773J202<br>LEI: 52990017AIJPRH3HQH40 | Long             | EC               | CORP              | US        |    284853 | NS      | $4352553.84   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| REZOLUTE INC                       | REZOLUTE INC                                                     | CUSIP: 76200L309<br>LEI: 549300T05L48T72P2G08 | Long             | EC               | CORP              | US        |    640784 | NS      | $2640030.08   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CANDEL THERAPEUTICS INC            | CANDEL THERAPEUTICS INC                                          | CUSIP: 137404109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   5544979 | NS      | $30220135.55  | 0.82%             |  |  |  | No            |                  1 | On Loan: —       |
| VERA THERAPEUTICS INC              | VERA THERAPEUTICS INC                                            | CUSIP: 92337R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    457025 | NS      | $8660623.75   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| VERONA PHARMA PLC                  | VERONA PHARMA PLC ADR                                            | CUSIP: 925050106<br>LEI: 213800EVI6O6J3TIAL06 | Long             | EC               | CORP              | GB        |    204992 | NS      | $16645350.40  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| IDORSIA LTD                        | IDORSIA LTD                                                      | CUSIP: N/A<br>LEI: 506700XOVZUB107S5720       | Long             | EC               | CORP              | CH        |    289343 | NS      | $577279.72    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| STRUCTURE THERAPEUTICS INC         | STRUCTURE THERAPEUTICS INC ADR                                   | CUSIP: 86366E106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    424864 | NS      | $9245040.64   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| INHIBIKASE THERAPEUTICS INC        | INHIBIKASE THERAPEUTICS INC                                      | CUSIP: 45719W205<br>LEI: 549300066CFEWOA17F12 | Long             | EC               | CORP              | US        |    144170 | NS      | $289781.70    | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| SUMMIT THERAPEUTICS INC            | SUMMIT THERAPEUTICS INC                                          | CUSIP: 86627T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1727478 | NS      | $31466011.77  | 0.86%             |  |  |  | No            |                  1 | On Loan: —       |
| ANNEXON INC                        | ANNEXON INC                                                      | CUSIP: 03589W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    339687 | NS      | $692961.48    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SCORPION THERAPEUTICS INC          | SCORPION THERAPEUTICS INC SHAREHOLDER REPRESENTATIVE ESCROW LINE | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   5166448 | NS      | $51.66        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| ROIVANT SCIENCES LTD               | ROIVANT SCIENCES LTD                                             | CUSIP: N/A<br>LEI: 549300DL466NY5J6U724       | Long             | EC               | CORP              | BM        |   1075619 | NS      | $11821052.81  | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| PROTAGONIST THERAPEUTICS INC       | PROTAGONIST THERAPEUTICS INC                                     | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    498513 | NS      | $23664412.11  | 0.64%             |  |  |  | No            |                  1 | On Loan: —       |
| CYTOKINETICS INC                   | CYTOKINETICS INC                                                 | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |     90552 | NS      | $2808923.04   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ATYR PHARMA INC                    | ATYR PHARMA INC                                                  | CUSIP: 002120202<br>LEI: 529900ENQUXMC5EBKO36 | Long             | EC               | CORP              | US        |   2524394 | NS      | $11284041.18  | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| NATIONAL RESILIENCE INC            | NATIONAL RESILIENCE INC SER B PC PP                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    732064 | NS      | $15212289.92  | 0.41%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SCHOLAR ROCK HOLDING CORP          | SCHOLAR ROCK HOLDING CORP WT 12/31/2025 PP                       | CUSIP: N/A<br>LEI: 549300Z1FLPGL4OWJ459       | Long             | EC               | CORP              | US        |     17850 | NS      | $389861.32    | 0.01%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ALECTOR INC                        | ALECTOR INC                                                      | CUSIP: 014442107<br>LEI: 549300Z8RQOIY1JMHC25 | Long             | EC               | CORP              | US        |   3014253 | NS      | $4008956.49   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| GALDERMA GROUP AG                  | GALDERMA GROUP AG                                                | CUSIP: N/A<br>LEI: 89450001OK6O8ELQ4584       | Long             | EC               | CORP              | CH        |    218820 | NS      | $28635375.46  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust       | Fidelity Cash Central Fund                                       | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |    712866 | NS      | $713008.33    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AKERO THERAPEUTICS INC             | AKERO THERAPEUTICS INC                                           | CUSIP: 00973Y108<br>LEI: 549300SI3KG74LBE2955 | Long             | EC               | CORP              | US        |    198400 | NS      | $9850560.00   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| WAVE LIFE SCIENCES LTD             | WAVE LIFE SCIENCES LTD                                           | CUSIP: N/A<br>LEI: 54930070006GPKFYZ813       | Long             | EC               | CORP              | SG        |    380016 | NS      | $2283896.16   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ASCENDIS PHARMA A/S                | ASCENDIS PHARMA AS SPON ADR                                      | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |    597809 | NS      | $97347217.56  | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGEND BIOTECH CORP                | LEGEND BIOTECH CORP SPON ADR                                     | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | KY        |     91610 | NS      | $2652109.50   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| GERON CORP                         | GERON CORP                                                       | CUSIP: 374163103<br>LEI: 549300T282D7Z2YESL90 | Long             | EC               | CORP              | US        |   2069812 | NS      | $3146114.24   | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| METSERA INC                        | METSERA INC                                                      | CUSIP: 59267L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43800 | NS      | $1170336.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| 89BIO INC                          | 89BIO INC                                                        | CUSIP: 282559103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    306400 | NS      | $3014976.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| VERTEX PHARMACEUTICALS INC         | VERTEX PHARMACEUTICALS INC                                       | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |    106309 | NS      | $46993893.45  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRIA THERAPEUTICS INC            | ASTRIA THERAPEUTICS INC WT                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    115136 | NS      | $127509.15    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GLAUKOS CORP                       | GLAUKOS CORP                                                     | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |      5700 | NS      | $537453.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOHAVEN LTD                       | BIOHAVEN LTD                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | VG        |   1019644 | NS      | $15100927.64  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AXCELLA HEALTH INC                 | AXCELLA HEALTH INC                                               | CUSIP: 05454B204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     66454 | NS      | $0.66         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NATERA INC                         | NATERA INC                                                       | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    339132 | NS      | $53491290.36  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| OPTINOSE INC                       | OPTINOSE INC WT 11/23/27                                         | CUSIP: 68404V118<br>LEI: 549300CPBME7Z3CYMN16 | Long             | EC               | CORP              | US        |     91712 | NS      | $1792.95      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| VIR BIOTECHNOLOGY INC              | VIR BIOTECHNOLOGY INC                                            | CUSIP: 92764N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    169100 | NS      | $835354.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| PHARVARIS BV                       | PHARVARIS BV                                                     | CUSIP: N/A<br>LEI: 9845003BE146D3B75D32       | Long             | EC               | CORP              | NL        |     90107 | NS      | $1495776.20   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CANDID THERAPEUTICS                | CANDID THERAPEUTICS INC SER B PC PP                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   1666667 | NS      | $1650000.33   | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| MADRIGAL PHARMACEUTICALS INC       | MADRIGAL PHARMACEUTICALS INC                                     | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |     54695 | NS      | $15055345.70  | 0.41%             |  |  |  | No            |                  1 | On Loan: —       |
| EXACT SCIENCES CORP                | EXACT SCIENCES CORP                                              | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |     64200 | NS      | $3613176.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC THERAPEUTICS INC               | PTC THERAPEUTICS INC                                             | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |    309811 | NS      | $15032029.72  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCELLX INC                        | ARCELLX INC                                                      | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    571900 | NS      | $35492114.00  | 0.97%             |  |  |  | No            |                  1 | On Loan: —       |
| STOKE THERAPEUTICS INC             | STOKE THERAPEUTICS INC                                           | CUSIP: 86150R107<br>LEI: 549300RD25SS2DIJHJ67 | Long             | EC               | CORP              | US        |   1235246 | NS      | $11784246.84  | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| DAY ONE BIOPHARMACEUTICALS INC     | DAY ONE BIOPHARMACEUTICALS INC                                   | CUSIP: 23954D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    865766 | NS      | $5523587.08   | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| UCB SA                             | UCB SA                                                           | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |    432274 | NS      | $78482999.51  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BEONE MEDICINES LTD                | BEONE MEDICINES LTD ADR                                          | CUSIP: 07725L102<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | CH        |      9198 | NS      | $2258844.84   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| RHYTHM PHARMACEUTICALS INC         | RHYTHM PHARMACEUTICALS INC                                       | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |    157703 | NS      | $9671924.99   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| DYNE THERAPEUTICS INC              | DYNE THERAPEUTICS INC                                            | CUSIP: 26818M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1677044 | NS      | $20057446.24  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ARRIVENT BIOPHARMA INC             | ARRIVENT BIOPHARMA INC                                           | CUSIP: 04272N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1936217 | NS      | $41144611.25  | 1.12%             |  |  |  | No            |                  1 | On Loan: —       |
| RAPPORT THERAPEUTICS INC           | RAPPORT THERAPEUTICS INC                                         | CUSIP: 75383L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    171063 | NS      | $1414691.01   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| ALNYLAM PHARMACEUTICALS INC        | ALNYLAM PHARMACEUTICALS INC                                      | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |    688403 | NS      | $209660017.68 | 5.71%             |  |  |  | No            |                  1 | On Loan: No      |
| ZENAS BIOPHARMA INC                | ZENAS BIOPHARMA INC                                              | CUSIP: 98937L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    186100 | NS      | $1771672.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| HARMONY BIOSCIENCES HOLDINGS INC   | HARMONY BIOSCIENCES HOLDINGS INC                                 | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64425 | NS      | $2222662.50   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ZEALAND PHARMA A/S                 | ZEALAND PHARMA A/S                                               | CUSIP: N/A<br>LEI: 549300ITBB1ULBL4CZ12       | Long             | EC               | CORP              | DK        |    666430 | NS      | $46324355.63  | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| LEXICON PHARMACEUTICALS INC        | LEXICON PHARMACEUTICALS INC                                      | CUSIP: 528872302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1542000 | NS      | $966217.20    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| CORCEPT THERAPEUTICS INC           | CORCEPT THERAPEUTICS INC                                         | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |    732146 | NS      | $56785243.76  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust       | Fidelity Securities Lending Cash Central Fund                    | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        | 201633582 | NS      | $201653745.02 | 5.50%             |  |  |  | No            |                  1 | On Loan: No      |
| IMMUNOVANT INC                     | IMMUNOVANT INC                                                   | CUSIP: 45258J102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    825221 | NS      | $12254531.85  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| KYMERA THERAPEUTICS INC            | KYMERA THERAPEUTICS INC                                          | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    164541 | NS      | $4876995.24   | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| BEAM THERAPEUTICS INC              | BEAM THERAPEUTICS INC                                            | CUSIP: 07373V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    247214 | NS      | $3913397.62   | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| XENON PHARMACEUTICALS INC          | XENON PHARMACEUTICALS INC                                        | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |    435264 | NS      | $12557366.40  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ANAPTYSBIO INC                     | ANAPTYSBIO INC                                                   | CUSIP: 032724106<br>LEI: 529900HH4WQT03IG1A12 | Long             | EC               | CORP              | US        |     69900 | NS      | $1553877.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| JADE BIOSCIENCES INC               | JADE BIOSCIENCES INC PIPE                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    218307 | NS      | $1582725.75   | 0.04%             |  |  |  | Yes           |                  1 | On Loan: No      |
| COGENT BIOSCIENCES INC             | COGENT BIOSCIENCES INC                                           | CUSIP: 19240Q201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1073294 | NS      | $5838719.36   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CG ONCOLOGY INC                    | CG ONCOLOGY INC                                                  | CUSIP: 156944100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    230476 | NS      | $5904795.12   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DENALI THERAPEUTICS INC            | DENALI THERAPEUTICS INC                                          | CUSIP: 24823R105<br>LEI: 549300ZTQ2HO18L3Q830 | Long             | EC               | CORP              | US        |    498763 | NS      | $6603622.12   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| OCULAR THERAPEUTIX INC             | OCULAR THERAPEUTIX INC                                           | CUSIP: 67576A100<br>LEI: 529900ABAWFXOHSIHG03 | Long             | EC               | CORP              | US        |    280900 | NS      | $2250009.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| INSMED INC                         | INSMED INC                                                       | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |    929219 | NS      | $64794440.87  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| MAZE THERAPEUTICS INC              | MAZE THERAPEUTICS INC                                            | CUSIP: 578784100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    148600 | NS      | $1487486.00   | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| GILEAD SCIENCES INC                | GILEAD SCIENCES INC                                              | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |   3033911 | NS      | $333972922.88 | 9.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DISC MEDICINE INC                  | DISC MEDICINE INC CVR RT                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   1555907 | NS      | $15.56        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| TAYSHA GENE THERAPIES INC          | TAYSHA GENE THERAPIES INC                                        | CUSIP: 877619106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3804276 | NS      | $10309587.96  | 0.28%             |  |  |  | No            |                  1 | On Loan: —       |
| ALLENA PHARMACEUTICALS INC         | ALLENA PHARMACEUTICALS INC                                       | CUSIP: 018119107<br>LEI: 549300749HO5QS40BX97 | Long             | EC               | CORP              | US        |     93683 | NS      | $0.94         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| VIKING THERAPEUTICS INC            | VIKING THERAPEUTICS INC                                          | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |    522657 | NS      | $14007207.60  | 0.38%             |  |  |  | No            |                  1 | On Loan: —       |
| APOGEE THERAPEUTICS INC            | APOGEE THERAPEUTICS INC                                          | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    392132 | NS      | $14367716.48  | 0.39%             |  |  |  | No            |                  1 | On Loan: —       |
| ZURA BIO LTD                       | ZURA BIO LTD A                                                   | CUSIP: N/A<br>LEI: 549300LQXD6M2MIQFN24       | Long             | EC               | CORP              | KY        |    547357 | NS      | $552830.57    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOMEA FUSION INC                  | BIOMEA FUSION INC                                                | CUSIP: 09077A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    392129 | NS      | $564665.76    | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| MERUS NV                           | MERUS B.V.                                                       | CUSIP: N/A<br>LEI: 549300W8GPUWU8QNU293       | Long             | EC               | CORP              | NL        |    708854 | NS      | $39745443.78  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SCORPION THERAPEUTICS INC          | SCORPION THERAPEUTICS INC CVR 03/05/2040                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |   5166448 | NS      | $2841546.40   | 0.08%             |  |  |  | No            |                  3 | On Loan: No      |
| ELEVATEBIO, LLC                    | ELEVATEBIO LLC SER C PC PP                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    216600 | NS      | $426702.00    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| IONIS PHARMACEUTICALS INC          | IONIS PHARMACEUTICALS INC                                        | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |    500777 | NS      | $16781037.27  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NUVALENT INC                       | NUVALENT INC-A                                                   | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    268899 | NS      | $20062554.39  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCUS BIOSCIENCES INC              | ARCUS BIOSCIENCES INC                                            | CUSIP: 03969F109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1206389 | NS      | $10773053.77  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCTURUS THERAPEUTICS HOLDINGS INC | ARCTURUS THERAPEUTICS HOLDINGS INC                               | CUSIP: 03969T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    179630 | NS      | $2250763.90   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |

### Signature

**Date Signed:** 2025-06-30

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

**Signature:** Stacie M. Smith

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

**Title:** President and Treasurer