# EDGAR Filing Document

**Accession Number:** 0001174610
**File Stem:** 0001752724-25-180292
**Filing Date:** 2025-7
**Character Count:** 101131
**Document Hash:** 3b4ae74b3fd19d2fa9e811de6bbb71a6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-180292.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001752724-25-180292

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**PERIOD START**: 20250531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROSHARES TRUST
- **CENTRAL INDEX KEY:** 0001174610

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21114
- **FILM NUMBER:** 251154142

**BUSINESS ADDRESS:**
- **STREET 1:** 7272 WISCONSIN AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** 240-497-6400

**MAIL ADDRESS:**
- **STREET 1:** 7272 WISCONSIN AVENUE
- **STREET 2:** 21ST FLOOR
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** XTRASHARES TRUST
- **DATE OF NAME CHANGE:** 20030409

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PROFUNDS ETF TRUST
- **DATE OF NAME CHANGE:** 20020531

## Series and Classes Contracts Data

### ProShares Ultra Nasdaq Biotechnology (Series ID: S000018718)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000051848 | ProShares Ultra Nasdaq Biotechnology | BIB             |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** ProShares Trust

- **b. Investment Company Act file number:** 811-21114

- **c. CIK number of Registrant:** 0001174610

- **d. LEI of Registrant:** 5493005D9DS7C1P5AM59

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

  - **Street Address 1:** 7272 Wisconsin Avenue

  - **City:** Bethesda

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 20814

  - **Telephone number:** 240-497-6400

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

- **a. Name of Series:** ProShares Ultra Nasdaq Biotechnology

- **b. EDGAR series identifier (if any):** S000018718

- **c. LEI of Series:** SL5GC2XPBUL7EXVSNF27

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

- **a. Date of fiscal year-end:** 2025-05-31

- **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:** $57630143.78

**Total Liabilities:** $13329791.01

**Net Assets:** $44300352.77

**Cash Not Reported:** $950264.43

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000051848 | -12.25%              | -1.28%               | -9.41%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $257810.89               | $-3000351.83                               |
| Month 2  | $-2360404.33             | $2065834.29                                |
| Month 3  | $-661450.70              | $-945731.44                                |

**Designated Index Information**

- **Index Name:** Nasdaq Biotechnology Index

- **Index Identifier:** NBI

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Applied Therapeutics, Inc.                | Applied Therapeutics, Inc.                              | CUSIP: 03828A101<br>LEI: 549300KL3IJPHZM2GR04 | Long             | EC               | CORP              | US        |      4280 | NS      | $1512.12      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MannKind Corp.                            | MannKind Corp.                                          | CUSIP: 56400P706<br>LEI: 213800GFBCNY1ZFST722 | Long             | EC               | CORP              | US        |     11168 | NS      | $46347.20     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurogene, Inc.                           | Neurogene, Inc.                                         | CUSIP: 64135M105<br>LEI: 529900A7VIY892SZVW73 | Long             | EC               | CORP              | US        |       546 | NS      | $9287.46      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Therapeutics, Inc.                 | Apogee Therapeutics, Inc.                               | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1656 | NS      | $60675.84     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Enliven Therapeutics, Inc.                | Enliven Therapeutics, Inc.                              | CUSIP: 29337E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1797 | NS      | $31932.69     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Bicycle Therapeutics plc                  | Bicycle Therapeutics plc                                | CUSIP: 088786108<br>LEI: 213800XKUI6R7GKC3E43 | Long             | EC               | CORP              | GB        |      1620 | NS      | $13316.40     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ionis Pharmaceuticals, Inc.               | Ionis Pharmaceuticals, Inc.                             | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |      5848 | NS      | $195966.48    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp.                 | United Therapeutics Corp.                               | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      1652 | NS      | $526740.20    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Solid Biosciences, Inc.                   | Solid Biosciences, Inc.                                 | CUSIP: 83422E204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2807 | NS      | $9010.47      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| uniQure NV                                | uniQure NV                                              | CUSIP: N/A<br>LEI: 724500RPCTZLFYJZ3S98       | Long             | EC               | CORP              | NL        |      1989 | NS      | $28780.83     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIC Pharmaceuticals, Inc.                | ORIC Pharmaceuticals, Inc.                              | CUSIP: 68622P109<br>LEI: 54930033FJRNEYBW0L25 | Long             | EC               | CORP              | US        |      2613 | NS      | $21348.21     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Tango Therapeutics, Inc.                  | Tango Therapeutics, Inc.                                | CUSIP: 87583X109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3977 | NS      | $8828.94      | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Madrigal Pharmaceuticals, Inc.            | Madrigal Pharmaceuticals, Inc.                          | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |       812 | NS      | $223511.12    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| 4D Molecular Therapeutics, Inc.           | 4D Molecular Therapeutics, Inc.                         | CUSIP: 35104E100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1703 | NS      | $6164.86      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Savara, Inc.                              | Savara, Inc.                                            | CUSIP: 805111101<br>LEI: 5493002JO0WM3YMJXG33 | Long             | EC               | CORP              | US        |      6313 | NS      | $14393.64     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ligand Pharmaceuticals, Inc.              | Ligand Pharmaceuticals, Inc.                            | CUSIP: 53220K504<br>LEI: 5493008K7TB0IKP37H79 | Long             | EC               | CORP              | US        |       708 | NS      | $72350.52     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoke Therapeutics, Inc.                  | Stoke Therapeutics, Inc.                                | CUSIP: 86150R107<br>LEI: 549300RD25SS2DIJHJ67 | Long             | EC               | CORP              | US        |      1948 | NS      | $18583.92     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BioMarin Pharmaceutical, Inc.             | BioMarin Pharmaceutical, Inc.                           | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |      7018 | NS      | $407535.26    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Lexeo Therapeutics, Inc.                  | Lexeo Therapeutics, Inc.                                | CUSIP: 52886X107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1216 | NS      | $3307.52      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Total Return Swap                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1536 | NC      | $-2057016.99  | -4.64%            |  |  |  | No            |                  2 | On Loan: No      |
| Kymera Therapeutics, Inc.                 | Kymera Therapeutics, Inc.                               | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2389 | NS      | $70809.96     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Alumis, Inc.                              | Alumis, Inc.                                            | CUSIP: 022307102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3521 | NS      | $12323.50     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Merus NV                                  | Merus NV                                                | CUSIP: N/A<br>LEI: 549300W8GPUWU8QNU293       | Long             | EC               | CORP              | NL        |      2542 | NS      | $142529.94    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals plc                  | Jazz Pharmaceuticals plc                                | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | IE        |      2234 | NS      | $241428.38    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Repurchase Agreement                      | Repurchase Agreement                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |   1924446 | PA      | $1924446.26   | 4.34%             |  |  |  | No            |                  2 | On Loan: No      |
| 89bio, Inc.                               | 89bio, Inc.                                             | CUSIP: 282559103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5370 | NS      | $52840.80     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Amylyx Pharmaceuticals, Inc.              | Amylyx Pharmaceuticals, Inc.                            | CUSIP: 03237H101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3152 | NS      | $16232.80     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mineralys Therapeutics, Inc.              | Mineralys Therapeutics, Inc.                            | CUSIP: 603170101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1833 | NS      | $28558.14     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings, Inc.                    | Medpace Holdings, Inc.                                  | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |      1121 | NS      | $330582.90    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences, Inc.              | Neurocrine Biosciences, Inc.                            | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      3668 | NS      | $451237.36    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MeiraGTx Holdings plc                     | MeiraGTx Holdings plc                                   | CUSIP: N/A<br>LEI: 54930007YV6NYIOGFZ57       | Long             | EC               | CORP              | KY        |      2875 | NS      | $14720.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Absci Corp.                               | Absci Corp.                                             | CUSIP: 00091E109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4225 | NS      | $11196.25     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Insmed, Inc.                              | Insmed, Inc.                                            | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |      6658 | NS      | $464262.34    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Dyne Therapeutics, Inc.                   | Dyne Therapeutics, Inc.                                 | CUSIP: 26818M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4161 | NS      | $49765.56     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Vera Therapeutics, Inc.                   | Vera Therapeutics, Inc., Class A                        | CUSIP: 92337R101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2345 | NS      | $44437.75     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals, Inc.              | Rhythm Pharmaceuticals, Inc.                            | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |      2326 | NS      | $142653.58    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen, Inc.                              | Biogen, Inc.                                            | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |      5385 | NS      | $698919.15    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Total Return Swap                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      2030 | NC      | $-607612.14   | -1.37%            |  |  |  | No            |                  2 | On Loan: No      |
| Design Therapeutics, Inc.                 | Design Therapeutics, Inc.                               | CUSIP: 25056L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2083 | NS      | $7769.59      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Kura Oncology, Inc.                       | Kura Oncology, Inc.                                     | CUSIP: 50127T109<br>LEI: 5493005QORQTZCZYOP39 | Long             | EC               | CORP              | US        |      2971 | NS      | $16904.99     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tarsus Pharmaceuticals, Inc.              | Tarsus Pharmaceuticals, Inc.                            | CUSIP: 87650L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1412 | NS      | $60645.40     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Nurix Therapeutics, Inc.                  | Nurix Therapeutics, Inc.                                | CUSIP: 67080M103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2792 | NS      | $29678.96     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Pliant Therapeutics, Inc.                 | Pliant Therapeutics, Inc.                               | CUSIP: 729139105<br>LEI: 5493002Q5LITR7VHZH02 | Long             | EC               | CORP              | US        |      2239 | NS      | $3022.65      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma plc                        | Royalty Pharma plc, Class A                             | CUSIP: N/A<br>LEI: 549300FGFN7VOK8BZR03       | Long             | EC               | CORP              | GB        |     15940 | NS      | $524107.20    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Phathom Pharmaceuticals, Inc.             | Phathom Pharmaceuticals, Inc.                           | CUSIP: 71722W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2515 | NS      | $10688.75     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| HUTCHMED China Ltd.                       | HUTCHMED China Ltd.                                     | CUSIP: 44842L103<br>LEI: 2138006X34YDQ6OBYE79 | Long             | EC               | CORP              | KY        |      1141 | NS      | $15848.49     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Entrada Therapeutics, Inc.                | Entrada Therapeutics, Inc.                              | CUSIP: 29384C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1383 | NS      | $10510.80     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpha Teknova, Inc.                       | Alpha Teknova, Inc.                                     | CUSIP: 02080L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1961 | NS      | $11314.97     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Phibro Animal Health Corp.                | Phibro Animal Health Corp., Class A                     | CUSIP: 71742Q106<br>LEI: 549300U24SP4AF2JUX52 | Long             | EC               | CORP              | US        |       748 | NS      | $18266.16     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Editas Medicine, Inc.                     | Editas Medicine, Inc.                                   | CUSIP: 28106W103<br>LEI: 5299000AON4Q9NT2JE42 | Long             | EC               | CORP              | US        |      3037 | NS      | $5223.64      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ironwood Pharmaceuticals, Inc.            | Ironwood Pharmaceuticals, Inc., Class A                 | CUSIP: 46333X108<br>LEI: 549300PC8MR6QHH6P296 | Long             | EC               | CORP              | US        |      5887 | NS      | $3526.90      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Allogene Therapeutics, Inc.               | Allogene Therapeutics, Inc.                             | CUSIP: 019770106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7713 | NS      | $9024.21      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Repurchase Agreement                      | Repurchase Agreement                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |     96222 | PA      | $96222.31     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Edgewise Therapeutics, Inc.               | Edgewise Therapeutics, Inc.                             | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3483 | NS      | $49737.24     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                 | Argenx SE                                               | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      1178 | NS      | $675300.28    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Aura Biosciences, Inc.                    | Aura Biosciences, Inc.                                  | CUSIP: 05153U107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1838 | NS      | $10770.68     | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| SpringWorks Therapeutics, Inc.            | SpringWorks Therapeutics, Inc.                          | CUSIP: 85205L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2757 | NS      | $128779.47    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Genmab A/S                                | Genmab A/S                                              | CUSIP: 372303206<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |      1542 | NS      | $32304.90     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Recursion Pharmaceuticals, Inc.           | Recursion Pharmaceuticals, Inc., Class A                | CUSIP: 75629V104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14533 | NS      | $60747.94     | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Esperion Therapeutics, Inc.               | Esperion Therapeutics, Inc.                             | CUSIP: 29664W105<br>LEI: 549300OFU56UKEWVUS92 | Long             | EC               | CORP              | US        |      7248 | NS      | $6159.35      | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Zai Lab Ltd.                              | Zai Lab Ltd.                                            | CUSIP: 98887Q104<br>LEI: 549300P2UYQ9U5LY1T58 | Long             | EC               | CORP              | KY        |      2301 | NS      | $69352.14     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Olema Pharmaceuticals, Inc.               | Olema Pharmaceuticals, Inc.                             | CUSIP: 68062P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2731 | NS      | $14419.68     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines, Inc.                | Revolution Medicines, Inc.                              | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |      6839 | NS      | $269456.60    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Blueprint Medicines Corp.                 | Blueprint Medicines Corp.                               | CUSIP: 09627Y109<br>LEI: 5299004CC60O9T5HVM83 | Long             | EC               | CORP              | US        |      2351 | NS      | $238273.85    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| MacroGenics, Inc.                         | MacroGenics, Inc.                                       | CUSIP: 556099109<br>LEI: 5493001KJQUA83L8MH79 | Long             | EC               | CORP              | US        |      2309 | NS      | $3140.24      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| 10X Genomics, Inc.                        | 10X Genomics, Inc., Class A                             | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |      3982 | NS      | $37948.46     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Disc Medicine, Inc.                       | Disc Medicine, Inc.                                     | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1272 | NS      | $59376.96     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Theravance Biopharma, Inc.                | Theravance Biopharma, Inc.                              | CUSIP: N/A<br>LEI: 5493007VTSXP4Z6MIW52       | Long             | EC               | CORP              | KY        |      1809 | NS      | $16570.44     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Indivior plc                              | Indivior plc                                            | CUSIP: N/A<br>LEI: 213800V3NCQTY7IED471       | Long             | EC               | CORP              | GB        |      4567 | NS      | $58731.62     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Tempus AI, Inc.                           | Tempus AI, Inc., Class A                                | CUSIP: 88023B103<br>LEI: 2549009LA0KWRAGQBX50 | Long             | EC               | CORP              | US        |      6149 | NS      | $339301.82    | 0.77%             |  |  |  | No            |                  1 | On Loan: —       |
| Repurchase Agreement                      | Repurchase Agreement                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |   1347112 | PA      | $1347112.38   | 3.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortrea Holdings, Inc.                    | Fortrea Holdings, Inc.                                  | CUSIP: 34965K107<br>LEI: 5493000FIVFABOVCDU97 | Long             | EC               | CORP              | US        |      3300 | NS      | $14190.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| WaVe Life Sciences Ltd.                   | WaVe Life Sciences Ltd.                                 | CUSIP: N/A<br>LEI: 54930070006GPKFYZ813       | Long             | EC               | CORP              | SG        |      5611 | NS      | $33722.11     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Q32 Bio, Inc.                             | Q32 Bio, Inc.                                           | CUSIP: 746964105<br>LEI: 549300RWKPJEFTM3K452 | Long             | EC               | CORP              | US        |       448 | NS      | $775.04       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Total Return Swap                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1775 | NC      | $-702505.09   | -1.59%            |  |  |  | No            |                  2 | On Loan: No      |
| Sage Therapeutics, Inc.                   | Sage Therapeutics, Inc.                                 | CUSIP: 78667J108<br>LEI: 5493000JX4BJS9W6CN35 | Long             | EC               | CORP              | US        |      2262 | NS      | $14612.52     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ideaya Biosciences, Inc.                  | Ideaya Biosciences, Inc.                                | CUSIP: 45166A102<br>LEI: 549300ULW08F62IJML11 | Long             | EC               | CORP              | US        |      3220 | NS      | $64045.80     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Roivant Sciences Ltd.                     | Roivant Sciences Ltd.                                   | CUSIP: N/A<br>LEI: 549300DL466NY5J6U724       | Long             | EC               | CORP              | BM        |     26249 | NS      | $288476.51    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Praxis Precision Medicines, Inc.          | Praxis Precision Medicines, Inc.                        | CUSIP: 74006W207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       742 | NS      | $28604.10     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Twist Bioscience Corp.                    | Twist Bioscience Corp.                                  | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |      2194 | NS      | $64284.20     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Cytokinetics, Inc.                        | Cytokinetics, Inc.                                      | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |      4356 | NS      | $135123.12    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| OmniAb, Inc.                              | OmniAb, Inc.                                            | CUSIP: 68218J103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4452 | NS      | $5654.04      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sutro Biopharma, Inc.                     | Sutro Biopharma, Inc.                                   | CUSIP: 869367102<br>LEI: 5493005U6P15VD25P851 | Long             | EC               | CORP              | US        |      3033 | NS      | $2722.72      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcturus Therapeutics Holdings, Inc.      | Arcturus Therapeutics Holdings, Inc.                    | CUSIP: 03969T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       996 | NS      | $12479.88     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina, Inc.                            | Illumina, Inc.                                          | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |      5827 | NS      | $479212.48    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis, Inc.                            | Exelixis, Inc.                                          | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |     10296 | NS      | $443139.84    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Prothena Corp. plc                        | Prothena Corp. plc                                      | CUSIP: N/A<br>LEI: 5299009ZXQ8NIIJ8OL30       | Long             | EC               | CORP              | IE        |      1980 | NS      | $9088.20      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fate Therapeutics, Inc.                   | Fate Therapeutics, Inc.                                 | CUSIP: 31189P102<br>LEI: 549300L14Q4UHOODLA90 | Long             | EC               | CORP              | US        |      4190 | NS      | $5069.90      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Day One Biopharmaceuticals, Inc.          | Day One Biopharmaceuticals, Inc.                        | CUSIP: 23954D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3728 | NS      | $23784.64     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Galapagos NV                              | Galapagos NV                                            | CUSIP: 36315X101<br>LEI: 549300QKJ78IY0IOV655 | Long             | EC               | CORP              | BE        |       538 | NS      | $15472.88     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Replimune Group, Inc.                     | Replimune Group, Inc.                                   | CUSIP: 76029N106<br>LEI: 549300AY704NEIRC4K64 | Long             | EC               | CORP              | US        |      2833 | NS      | $25440.34     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Janux Therapeutics, Inc.                  | Janux Therapeutics, Inc.                                | CUSIP: 47103J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2174 | NS      | $51741.20     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Centessa Pharmaceuticals plc              | Centessa Pharmaceuticals plc                            | CUSIP: 152309100<br>LEI: 213800GIDAARDSKOI827 | Long             | EC               | CORP              | GB        |      3358 | NS      | $45366.58     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Novocure Ltd.                             | Novocure Ltd.                                           | CUSIP: N/A<br>LEI: 213800YPP55UMHWA4826       | Long             | EC               | CORP              | JE        |      4043 | NS      | $77261.73     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Castle Biosciences, Inc.                  | Castle Biosciences, Inc.                                | CUSIP: 14843C105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1049 | NS      | $16752.53     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals, Inc.               | Xenon Pharmaceuticals, Inc.                             | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |      2816 | NS      | $81241.60     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Enanta Pharmaceuticals, Inc.              | Enanta Pharmaceuticals, Inc.                            | CUSIP: 29251M106<br>LEI: 529900SSN4DODDQSN594 | Long             | EC               | CORP              | US        |       785 | NS      | $4655.05      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Amicus Therapeutics, Inc.                 | Amicus Therapeutics, Inc.                               | CUSIP: 03152W109<br>LEI: 549300MRD1SMUTNBPQ53 | Long             | EC               | CORP              | US        |     11302 | NS      | $68603.14     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullinan Therapeutics, Inc.               | Cullinan Therapeutics, Inc.                             | CUSIP: 230031106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2152 | NS      | $18604.04     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics, Inc.                    | PTC Therapeutics, Inc.                                  | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |      2901 | NS      | $140756.52    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceutical, Inc.           | Ultragenyx Pharmaceutical, Inc.                         | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |      3403 | NS      | $115804.09    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuvalent, Inc.                            | Nuvalent, Inc., Class A                                 | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2434 | NS      | $181600.74    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Astria Therapeutics, Inc.                 | Astria Therapeutics, Inc.                               | CUSIP: 04635X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2076 | NS      | $9881.76      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Codexis, Inc.                             | Codexis, Inc.                                           | CUSIP: 192005106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3047 | NS      | $7008.10      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ArriVent Biopharma, Inc.                  | ArriVent Biopharma, Inc.                                | CUSIP: 04272N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1240 | NS      | $26350.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Repurchase Agreement                      | Repurchase Agreement                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |    577334 | PA      | $577333.88    | 1.30%             |  |  |  | No            |                  2 | On Loan: No      |
| UroGen Pharma Ltd.                        | UroGen Pharma Ltd.                                      | CUSIP: N/A<br>LEI: 549300C0YCX7CG2G5D50       | Long             | EC               | CORP              | IL        |      1552 | NS      | $6580.48      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Mirum Pharmaceuticals, Inc.               | Mirum Pharmaceuticals, Inc.                             | CUSIP: 604749101<br>LEI: 254900YZKR40F7F27K81 | Long             | EC               | CORP              | US        |      1803 | NS      | $80161.38     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyverna Therapeutics, Inc.                | Kyverna Therapeutics, Inc.                              | CUSIP: 501976104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1588 | NS      | $4049.40      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Lexicon Pharmaceuticals, Inc.             | Lexicon Pharmaceuticals, Inc.                           | CUSIP: 528872302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13331 | NS      | $8353.20      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences, Inc.                  | Pacira BioSciences, Inc.                                | CUSIP: 695127100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1702 | NS      | $43979.68     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacific Biosciences of California, Inc.   | Pacific Biosciences of California, Inc.                 | CUSIP: 69404D108<br>LEI: 529900F1BWRE1M0KZN89 | Long             | EC               | CORP              | US        |     10074 | NS      | $9708.31      | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| AstraZeneca plc                           | AstraZeneca plc                                         | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     21421 | NS      | $1560091.43   | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxCyte, Inc.                             | MaxCyte, Inc.                                           | CUSIP: 57777K106<br>LEI: 54930053YHXULRFCU991 | Long             | EC               | CORP              | US        |      3880 | NS      | $9234.40      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Xencor, Inc.                              | Xencor, Inc.                                            | CUSIP: 98401F105<br>LEI: 549300V5IF65437JKG30 | Long             | EC               | CORP              | US        |      2592 | NS      | $20736.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics, Inc.                | Sarepta Therapeutics, Inc.                              | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |      3569 | NS      | $134194.40    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcutis Biotherapeutics, Inc.             | Arcutis Biotherapeutics, Inc.                           | CUSIP: 03969K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4364 | NS      | $56906.56     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Therapeutics, Inc.                 | Summit Therapeutics, Inc.                               | CUSIP: 86627T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27136 | NS      | $494282.24    | 1.12%             |  |  |  | No            |                  1 | On Loan: —       |
| Corvus Pharmaceuticals, Inc.              | Corvus Pharmaceuticals, Inc.                            | CUSIP: 221015100<br>LEI: 549300I3AVJ8F75NCX65 | Long             | EC               | CORP              | US        |      2364 | NS      | $8935.92      | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Atea Pharmaceuticals, Inc.                | Atea Pharmaceuticals, Inc.                              | CUSIP: 04683R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3107 | NS      | $9227.79      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical, Inc.            | Collegium Pharmaceutical, Inc.                          | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |      1158 | NS      | $33744.12     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolus, Inc.                              | Evolus, Inc.                                            | CUSIP: 30052C107<br>LEI: 549300VYQRYBQOT8V419 | Long             | EC               | CORP              | US        |      2329 | NS      | $21403.51     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CG oncology, Inc.                         | CG oncology, Inc.                                       | CUSIP: 156944100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2801 | NS      | $71761.62     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Iovance Biotherapeutics, Inc.             | Iovance Biotherapeutics, Inc.                           | CUSIP: 462260100<br>LEI: 2549002L8WT2ACU5Q878 | Long             | EC               | CORP              | US        |     12061 | NS      | $21106.75     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Biomea Fusion, Inc.                       | Biomea Fusion, Inc.                                     | CUSIP: 09077A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1333 | NS      | $1919.52      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Annexon, Inc.                             | Annexon, Inc.                                           | CUSIP: 03589W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3921 | NS      | $7998.84      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cargo Therapeutics, Inc.                  | Cargo Therapeutics, Inc.                                | CUSIP: 14179K101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1693 | NS      | $7195.25      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Syndax Pharmaceuticals, Inc.              | Syndax Pharmaceuticals, Inc.                            | CUSIP: 87164F105<br>LEI: 529900OF94TRHKZVBS87 | Long             | EC               | CORP              | US        |      3140 | NS      | $33095.60     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals, Inc.             | Alnylam Pharmaceuticals, Inc.                           | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      4762 | NS      | $1450314.72   | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Inhibrx Biosciences, Inc.                 | Inhibrx Biosciences, Inc.                               | CUSIP: 45720N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       533 | NS      | $7179.51      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte, Inc.                             | Vaxcyte, Inc.                                           | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |      4737 | NS      | $153905.13    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Keros Therapeutics, Inc.                  | Keros Therapeutics, Inc.                                | CUSIP: 492327101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1492 | NS      | $21111.80     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                       | Ascendis Pharma A/S                                     | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |      2222 | NS      | $361830.48    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Novavax, Inc.                             | Novavax, Inc.                                           | CUSIP: 670002401<br>LEI: 529900J4GJHPEPQ23205 | Long             | EC               | CORP              | US        |      5917 | NS      | $43430.78     | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Beam Therapeutics, Inc.                   | Beam Therapeutics, Inc.                                 | CUSIP: 07373V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3079 | NS      | $48740.57     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Oruka Therapeutics, Inc.                  | Oruka Therapeutics, Inc.                                | CUSIP: 687604108<br>LEI: 529900TG7O4ESUDMGI54 | Long             | EC               | CORP              | US        |      1377 | NS      | $15091.92     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Taysha Gene Therapies, Inc.               | Taysha Gene Therapies, Inc.                             | CUSIP: 877619106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7541 | NS      | $20436.11     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Agios Pharmaceuticals, Inc.               | Agios Pharmaceuticals, Inc.                             | CUSIP: 00847X104<br>LEI: 529900ONJHY8EOGYT555 | Long             | EC               | CORP              | US        |      2108 | NS      | $67645.72     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Amarin Corp. plc                          | Amarin Corp. plc                                        | CUSIP: 023111404<br>LEI: 5493009JFIGUFEVPK217 | Long             | EC               | CORP              | GB        |       737 | NS      | $8541.83      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Repurchase Agreement                      | Repurchase Agreement                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |   1154668 | PA      | $1154667.76   | 2.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Verona Pharma plc                         | Verona Pharma plc                                       | CUSIP: 925050106<br>LEI: 213800EVI6O6J3TIAL06 | Long             | EC               | CORP              | GB        |      2899 | NS      | $235398.80    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Axsome Therapeutics, Inc.                 | Axsome Therapeutics, Inc.                               | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |      1794 | NS      | $188657.04    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Repurchase Agreement                      | Repurchase Agreement                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |    962223 | PA      | $962223.13    | 2.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Humacyte, Inc.                            | Humacyte, Inc.                                          | CUSIP: 44486Q103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4733 | NS      | $12637.11     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Ardelyx, Inc.                             | Ardelyx, Inc.                                           | CUSIP: 039697107<br>LEI: 549300F542QR4SXHCY32 | Long             | EC               | CORP              | US        |      8768 | NS      | $32178.56     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ADMA Biologics, Inc.                      | ADMA Biologics, Inc.                                    | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8696 | NS      | $172528.64    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Amneal Pharmaceuticals, Inc.              | Amneal Pharmaceuticals, Inc.                            | CUSIP: 03168L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11402 | NS      | $83462.64     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Alvotech SA                               | Alvotech SA                                             | CUSIP: N/A<br>LEI: 222100DCZBOWV5DZ8372       | Long             | EC               | CORP              | LU        |     11090 | NS      | $126869.60    | 0.29%             |  |  |  | No            |                  1 | On Loan: —       |
| Newamsterdam Pharma Co. NV                | Newamsterdam Pharma Co. NV                              | CUSIP: N/A<br>LEI: 984500B6549TF6E14D36       | Long             | EC               | CORP              | NL        |      4040 | NS      | $73164.40     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals, Inc.           | Crinetics Pharmaceuticals, Inc.                         | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |      3423 | NS      | $104435.73    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                  | U.S. Treasury Bills                                     | CUSIP: 912797PS0<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   7000000 | PA      | $6987633.31   | 15.77%            | 2025-06-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Alector, Inc.                             | Alector, Inc.                                           | CUSIP: 014442107<br>LEI: 549300Z8RQOIY1JMHC25 | Long             | EC               | CORP              | US        |      3645 | NS      | $4847.85      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| AnaptysBio, Inc.                          | AnaptysBio, Inc.                                        | CUSIP: 032724106<br>LEI: 529900HH4WQT03IG1A12 | Long             | EC               | CORP              | US        |      1128 | NS      | $25075.44     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Arvinas, Inc.                             | Arvinas, Inc.                                           | CUSIP: 04335A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2530 | NS      | $18216.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Geron Corp.                               | Geron Corp.                                             | CUSIP: 374163103<br>LEI: 549300T282D7Z2YESL90 | Long             | EC               | CORP              | US        |     23429 | NS      | $35612.08     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanda Pharmaceuticals, Inc.               | Vanda Pharmaceuticals, Inc.                             | CUSIP: 921659108<br>LEI: 529900AY8VOOQBKJ0O70 | Long             | EC               | CORP              | US        |      2145 | NS      | $9309.30      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Aquestive Therapeutics, Inc.              | Aquestive Therapeutics, Inc.                            | CUSIP: 03843E104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3354 | NS      | $9089.34      | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Autolus Therapeutics plc                  | Autolus Therapeutics plc                                | CUSIP: 05280R100<br>LEI: 549300C0KZP8EYROLL02 | Long             | EC               | CORP              | GB        |      7372 | NS      | $12901.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ACADIA Pharmaceuticals, Inc.              | ACADIA Pharmaceuticals, Inc.                            | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |      6135 | NS      | $132331.95    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Lyell Immunopharma, Inc.                  | Lyell Immunopharma, Inc.                                | CUSIP: 55083R203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10747 | NS      | $4693.21      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals, Inc.              | Vertex Pharmaceuticals, Inc.                            | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      6148 | NS      | $2717723.40   | 6.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Biosciences, Inc.                  | Cogent Biosciences, Inc.                                | CUSIP: 19240Q201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4188 | NS      | $22782.72     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ARS Pharmaceuticals, Inc.                 | ARS Pharmaceuticals, Inc.                               | CUSIP: 82835W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3575 | NS      | $51587.25     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENXBIO, Inc.                           | REGENXBIO, Inc.                                         | CUSIP: 75901B107<br>LEI: 549300EOES47LATSET33 | Long             | EC               | CORP              | US        |      1823 | NS      | $16133.55     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BioCryst Pharmaceuticals, Inc.            | BioCryst Pharmaceuticals, Inc.                          | CUSIP: 09058V103<br>LEI: 549300Z0INP1Z5NP6J59 | Long             | EC               | CORP              | US        |      7687 | NS      | $82635.25     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| LENZ Therapeutics, Inc.                   | LENZ Therapeutics, Inc.                                 | CUSIP: 52635N103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1012 | NS      | $29550.40     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Tevogen Bio Holdings, Inc.                | Tevogen Bio Holdings, Inc.                              | CUSIP: 88165K101<br>LEI: 549300AC21G4NBK9D322 | Long             | EC               | CORP              | US        |      6439 | NS      | $8306.31      | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Rapport Therapeutics, Inc.                | Rapport Therapeutics, Inc.                              | CUSIP: 75383L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1346 | NS      | $11131.42     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| Climb Bio, Inc.                           | Climb Bio, Inc.                                         | CUSIP: 28658R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2473 | NS      | $2918.14      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Legend Biotech Corp.                      | Legend Biotech Corp.                                    | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | KY        |      3005 | NS      | $86994.75     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Xeris Biopharma Holdings, Inc.            | Xeris Biopharma Holdings, Inc.                          | CUSIP: 98422E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5484 | NS      | $27090.96     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrowhead Pharmaceuticals, Inc.           | Arrowhead Pharmaceuticals, Inc.                         | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |      4639 | NS      | $74548.73     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Avidity Biosciences, Inc.                 | Avidity Biosciences, Inc.                               | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4422 | NS      | $136993.56    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Tourmaline Bio, Inc.                      | Tourmaline Bio, Inc.                                    | CUSIP: 89157D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       943 | NS      | $15729.24     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Zymeworks, Inc.                           | Zymeworks, Inc.                                         | CUSIP: 98985Y108<br>LEI: 894500AHOYAGYLYZJL67 | Long             | EC               | CORP              | US        |      2534 | NS      | $28963.62     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Inozyme Pharma, Inc.                      | Inozyme Pharma, Inc.                                    | CUSIP: 45790W108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2363 | NS      | $9381.11      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Artiva Biotherapeutics, Inc.              | Artiva Biotherapeutics, Inc.                            | CUSIP: 04317A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       894 | NS      | $1725.42      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunovant, Inc.                          | Immunovant, Inc.                                        | CUSIP: 45258J102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6249 | NS      | $92797.65     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphastar Pharmaceuticals, Inc.           | Amphastar Pharmaceuticals, Inc.                         | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |      1769 | NS      | $45480.99     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAIL, Inc.                               | GRAIL, Inc.                                             | CUSIP: 384747101<br>LEI: 2549009XSNESW3VE8024 | Long             | EC               | CORP              | US        |      1236 | NS      | $47474.76     | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| N/A                                       | Total Return Swap                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1919 | NC      | $-1104177.05  | -2.49%            |  |  |  | No            |                  2 | On Loan: No      |
| Silence Therapeutics plc                  | Silence Therapeutics plc                                | CUSIP: 82686Q101<br>LEI: 213800SSURRJBX85SQ91 | Long             | EC               | CORP              | GB        |      1730 | NS      | $10103.20     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Vir Biotechnology, Inc.                   | Vir Biotechnology, Inc.                                 | CUSIP: 92764N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5045 | NS      | $24922.30     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Prime Medicine, Inc.                      | Prime Medicine, Inc.                                    | CUSIP: 74168J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4825 | NS      | $5693.50      | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Third Harmonic Bio, Inc.                  | Third Harmonic Bio, Inc.                                | CUSIP: 88427A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1658 | NS      | $8638.18      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Akero Therapeutics, Inc.                  | Akero Therapeutics, Inc.                                | CUSIP: 00973Y108<br>LEI: 549300SI3KG74LBE2955 | Long             | EC               | CORP              | US        |      2929 | NS      | $145424.85    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris, Inc.                             | Viatris, Inc.                                           | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |     43911 | NS      | $385977.69    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Maravai LifeSciences Holdings, Inc.       | Maravai LifeSciences Holdings, Inc., Class A            | CUSIP: 56600D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5218 | NS      | $11740.50     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Intellia Therapeutics, Inc.               | Intellia Therapeutics, Inc.                             | CUSIP: 45826J105<br>LEI: 5493002T5BCPE5DZC723 | Long             | EC               | CORP              | US        |      3808 | NS      | $26160.96     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals, Inc.            | Supernus Pharmaceuticals, Inc.                          | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |      2053 | NS      | $65080.10     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Mersana Therapeutics, Inc.                | Mersana Therapeutics, Inc.                              | CUSIP: 59045L106<br>LEI: 529900VWD5VDZ7PVOS22 | Long             | EC               | CORP              | US        |      4544 | NS      | $1561.77      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mesoblast Ltd.                            | Mesoblast Ltd.                                          | CUSIP: 590717401<br>LEI: 529900J5ALF3JG921927 | Long             | EC               | CORP              | AU        |      1251 | NS      | $13310.64     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Precigen, Inc.                            | Precigen, Inc.                                          | CUSIP: 74017N105<br>LEI: 549300XCWNQU35K64G19 | Long             | EC               | CORP              | US        |     10773 | NS      | $14220.36     | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| EyePoint Pharmaceuticals, Inc.            | EyePoint Pharmaceuticals, Inc.                          | CUSIP: 30233G209<br>LEI: 549300QE1RU34T50MR69 | Long             | EC               | CORP              | US        |      2511 | NS      | $18179.64     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Aurinia Pharmaceuticals, Inc.             | Aurinia Pharmaceuticals, Inc.                           | CUSIP: 05156V102<br>LEI: 5299008YP2BW4570ML28 | Long             | EC               | CORP              | CA        |      5052 | NS      | $39607.68     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholar Rock Holding Corp.                | Scholar Rock Holding Corp.                              | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |      3483 | NS      | $101041.83    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals, Inc.                 | ANI Pharmaceuticals, Inc.                               | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |       801 | NS      | $47034.72     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Altimmune, Inc.                           | Altimmune, Inc.                                         | CUSIP: 02155H200<br>LEI: 549300EOYCQ8SW3NVE64 | Long             | EC               | CORP              | US        |      2833 | NS      | $15383.19     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Rigel Pharmaceuticals, Inc.               | Rigel Pharmaceuticals, Inc.                             | CUSIP: 766559702<br>LEI: 529900KPTNUS5J8K9K66 | Long             | EC               | CORP              | US        |       648 | NS      | $12441.60     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Harrow, Inc.                              | Harrow, Inc.                                            | CUSIP: 415858109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1310 | NS      | $36824.10     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics, Inc.            | Protagonist Therapeutics, Inc.                          | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2258 | NS      | $107187.26    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ImmunityBio, Inc.                         | ImmunityBio, Inc.                                       | CUSIP: 45256X103<br>LEI: 529900J9XLBR4HFL4B83 | Long             | EC               | CORP              | US        |     26860 | NS      | $71447.60     | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| INVESCO GOVT AND AGCY LEX                 | INVESCO GOVERNMENT & AGENCY PORTFOLIO OPEN-END FUND USD | CUSIP: 825252885<br>LEI: O37NHJVF7S22I1ONOU83 | Long             | STIV             | RF                | US        |   1383244 | NS      | $1383244.50   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Travere Therapeutics, Inc.                | Travere Therapeutics, Inc.                              | CUSIP: 89422G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3264 | NS      | $49025.28     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| TScan Therapeutics, Inc.                  | TScan Therapeutics, Inc.                                | CUSIP: 89854M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1806 | NS      | $2582.58      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma, Inc.                    | Bridgebio Pharma, Inc.                                  | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |      6996 | NS      | $239613.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BeOne Medicines Ltd.                      | BeOne Medicines Ltd.                                    | CUSIP: 07725L102<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | CH        |      1539 | NS      | $377947.62    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Cartesian Therapeutics, Inc.              | Cartesian Therapeutics, Inc.                            | CUSIP: 816212112<br>LEI: 529900NMN0LACZOL7C43 | Long             |  | CORP              | US        |      9785 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Adaptive Biotechnologies Corp.            | Adaptive Biotechnologies Corp.                          | CUSIP: 00650F109<br>LEI: 549300ZTF7OT1FW66Q96 | Long             | EC               | CORP              | US        |      5429 | NS      | $51684.08     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Rocket Pharmaceuticals, Inc.              | Rocket Pharmaceuticals, Inc.                            | CUSIP: 77313F106<br>LEI: 549300R7VV82YUIN4Y93 | Long             | EC               | CORP              | US        |      3922 | NS      | $9844.22      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Larimar Therapeutics, Inc.                | Larimar Therapeutics, Inc.                              | CUSIP: 517125100<br>LEI: 529900NCBZHTTJV6HX73 | Long             | EC               | CORP              | US        |      2347 | NS      | $5280.75      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcellx, Inc.                             | Arcellx, Inc.                                           | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2021 | NS      | $125423.26    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen, Inc.                               | Amgen, Inc.                                             | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      9576 | NS      | $2759611.68   | 6.23%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                  | U.S. Treasury Bills                                     | CUSIP: 912797PT8<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   1500000 | PA      | $1496122.50   | 3.38%             | 2025-06-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Kiniksa Pharmaceuticals International plc | Kiniksa Pharmaceuticals International plc, Class A      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |      1545 | NS      | $42271.20     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                  | U.S. Treasury Bills                                     | CUSIP: 912797NW3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    750000 | PA      | $747888.13    | 1.69%             | 2025-06-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| C4 Therapeutics, Inc.                     | C4 Therapeutics, Inc.                                   | CUSIP: 12529R107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2611 | NS      | $3263.75      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Halozyme Therapeutics, Inc.               | Halozyme Therapeutics, Inc.                             | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |      4530 | NS      | $253997.10    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CorMedix, Inc.                            | CorMedix, Inc.                                          | CUSIP: 21900C308<br>LEI: 5299006YIA3L0MBW8358 | Long             | EC               | CORP              | US        |      2232 | NS      | $27096.48     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGA Technologies, Inc.                   | SIGA Technologies, Inc.                                 | CUSIP: 826917106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2627 | NS      | $15709.46     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Spyre Therapeutics, Inc.                  | Spyre Therapeutics, Inc.                                | CUSIP: 00773J202<br>LEI: 52990017AIJPRH3HQH40 | Long             | EC               | CORP              | US        |      2217 | NS      | $33875.76     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| IGM Biosciences, Inc.                     | IGM Biosciences, Inc.                                   | CUSIP: 449585108<br>LEI: 5493008XCQES2N0VY969 | Long             | EC               | CORP              | US        |      1254 | NS      | $1592.58      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| KalVista Pharmaceuticals, Inc.            | KalVista Pharmaceuticals, Inc.                          | CUSIP: 483497103<br>LEI: 529900Q7IDA3WUGRZA51 | Long             | EC               | CORP              | US        |      1818 | NS      | $21452.40     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Krystal Biotech, Inc.                     | Krystal Biotech, Inc.                                   | CUSIP: 501147102<br>LEI: 549300YONUY68210OE41 | Long             | EC               | CORP              | US        |      1060 | NS      | $133517.60    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Total Return Swap                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      3029 | NC      | $-1475651.21  | -3.33%            |  |  |  | No            |                  2 | On Loan: No      |
| Monte Rosa Therapeutics, Inc.             | Monte Rosa Therapeutics, Inc.                           | CUSIP: 61225M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2260 | NS      | $9446.80      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva, Inc.                            | Innoviva, Inc.                                          | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |      2306 | NS      | $45128.42     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Personalis, Inc.                          | Personalis, Inc.                                        | CUSIP: 71535D106<br>LEI: 549300EZ2NYFK7H0US48 | Long             | EC               | CORP              | US        |      3247 | NS      | $15033.61     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Relay Therapeutics, Inc.                  | Relay Therapeutics, Inc.                                | CUSIP: 75943R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6236 | NS      | $18708.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| United States of America                  | U.S. Treasury Bills                                     | CUSIP: 912797NV5<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   4500000 | PA      | $4490482.50   | 10.14%            | 2025-06-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.           | Regeneron Pharmaceuticals, Inc.                         | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      3955 | NS      | $1939057.40   | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Mind Medicine MindMed, Inc.               | Mind Medicine MindMed, Inc.                             | CUSIP: 60255C885<br>LEI: 549300QY8KN1O6RPFJ13 | Long             | EC               | CORP              | CA        |      2698 | NS      | $19587.48     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cartesian Therapeutics, Inc.              | Cartesian Therapeutics, Inc.                            | CUSIP: 816212302<br>LEI: 529900NMN0LACZOL7C43 | Long             | EC               | CORP              | US        |       935 | NS      | $8938.60      | 0.02%             |  |  |  | No            |                  1 | On Loan: —       |
| Tectonic Therapeutic, Inc.                | Tectonic Therapeutic, Inc.                              | CUSIP: 878972108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       543 | NS      | $11679.93     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CRISPR Therapeutics AG                    | CRISPR Therapeutics AG                                  | CUSIP: N/A<br>LEI: 506700O6IRRIQLT3W370       | Long             | EC               | CORP              | CH        |      3155 | NS      | $114494.95    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Pyxis Oncology, Inc.                      | Pyxis Oncology, Inc.                                    | CUSIP: 747324101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2188 | NS      | $2647.48      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences, Inc.                     | Gilead Sciences, Inc.                                   | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     25806 | NS      | $2840724.48   | 6.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Sana Biotechnology, Inc.                  | Sana Biotechnology, Inc.                                | CUSIP: 799566104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8213 | NS      | $17822.21     | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| iTeos Therapeutics, Inc.                  | iTeos Therapeutics, Inc.                                | CUSIP: 46565G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1344 | NS      | $13466.88     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Guardant Health, Inc.                     | Guardant Health, Inc.                                   | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |      4540 | NS      | $184414.80    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| PepGen, Inc.                              | PepGen, Inc.                                            | CUSIP: 713317105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1203 | NS      | $1756.38      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Omeros Corp.                              | Omeros Corp.                                            | CUSIP: 682143102<br>LEI: 549300CJWLXX2MXVVV71 | Long             | EC               | CORP              | US        |      2132 | NS      | $6587.88      | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| Apellis Pharmaceuticals, Inc.             | Apellis Pharmaceuticals, Inc.                           | CUSIP: 03753U106<br>LEI: 254900HS0ZFRXXSB9D42 | Long             | EC               | CORP              | US        |      4617 | NS      | $78165.81     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Incyte Corp.                              | Incyte Corp.                                            | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |      7119 | NS      | $463162.14    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Structure Therapeutics, Inc.              | Structure Therapeutics, Inc.                            | CUSIP: 86366E106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      2192 | NS      | $47697.92     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| scPharmaceuticals, Inc.                   | scPharmaceuticals, Inc.                                 | CUSIP: 810648105<br>LEI: 549300F55SN4ZR2OA180 | Long             | EC               | CORP              | US        |      1841 | NS      | $6701.24      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Y-mAbs Therapeutics, Inc.                 | Y-mAbs Therapeutics, Inc.                               | CUSIP: 984241109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1648 | NS      | $7580.80      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Grifols SA                                | Grifols SA                                              | CUSIP: 398438408<br>LEI: 959800HSSNXWRKBK4N60 | Long             | EC               | CORP              | ES        |      4488 | NS      | $37295.28     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Denali Therapeutics, Inc.                 | Denali Therapeutics, Inc.                               | CUSIP: 24823R105<br>LEI: 549300ZTQ2HO18L3Q830 | Long             | EC               | CORP              | US        |      5342 | NS      | $70728.08     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AC Immune SA                              | AC Immune SA                                            | CUSIP: N/A<br>LEI: 967600VLQ0ZC2HSOG765       | Long             | EC               | CORP              | CH        |      3638 | NS      | $6220.98      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                 | Sanofi SA                                               | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |     10570 | NS      | $521840.90    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AbCellera Biologics, Inc.                 | AbCellera Biologics, Inc.                               | CUSIP: 00288U106<br>LEI: 9845000861BC95FF9F73 | Long             | EC               | CORP              | CA        |     10962 | NS      | $22143.24     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunocore Holdings plc                   | Immunocore Holdings plc                                 | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |      1458 | NS      | $53362.80     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CureVac NV                                | CureVac NV                                              | CUSIP: N/A<br>LEI: 724500BUT8GAG9LMYN56       | Long             | EC               | CORP              | NL        |      8253 | NS      | $36890.91     | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| OnKure Therapeutics, Inc.                 | OnKure Therapeutics, Inc., Class A                      | CUSIP: 68277Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       465 | NS      | $1176.45      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BioNTech SE                               | BioNTech SE                                             | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |      3660 | NS      | $350664.60    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Zevra Therapeutics, Inc.                  | Zevra Therapeutics, Inc.                                | CUSIP: 488445206<br>LEI: 254900CU6T74V18Y1W18 | Long             | EC               | CORP              | US        |      1963 | NS      | $16783.65     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Foghorn Therapeutics, Inc.                | Foghorn Therapeutics, Inc.                              | CUSIP: 344174107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2046 | NS      | $8347.68      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Arbutus Biopharma Corp.                   | Arbutus Biopharma Corp.                                 | CUSIP: 03879J100<br>LEI: 25490064CESONAUIAS23 | Long             | EC               | CORP              | CA        |      6971 | NS      | $23422.56     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corp.                             | Vericel Corp.                                           | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |      1838 | NS      | $75900.21     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Trevi Therapeutics, Inc.                  | Trevi Therapeutics, Inc.                                | CUSIP: 89532M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3287 | NS      | $21398.37     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Nkarta, Inc.                              | Nkarta, Inc.                                            | CUSIP: 65487U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2596 | NS      | $4517.04      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Voyager Therapeutics, Inc.                | Voyager Therapeutics, Inc.                              | CUSIP: 92915B106<br>LEI: 54930082S4XVR0ZWCC74 | Long             | EC               | CORP              | US        |      2009 | NS      | $5504.66      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings, Inc.        | Harmony Biosciences Holdings, Inc.                      | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2110 | NS      | $72795.00     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Ocular Therapeutix, Inc.                  | Ocular Therapeutix, Inc.                                | CUSIP: 67576A100<br>LEI: 529900ABAWFXOHSIHG03 | Long             | EC               | CORP              | US        |      5783 | NS      | $46321.83     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Avadel Pharmaceuticals plc                | Avadel Pharmaceuticals plc                              | CUSIP: N/A<br>LEI: 549300E27PTSG2RHC762       | Long             | EC               | CORP              | IE        |      3545 | NS      | $32294.95     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Acrivon Therapeutics, Inc.                | Acrivon Therapeutics, Inc.                              | CUSIP: 004890109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1145 | NS      | $1202.25      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Erasca, Inc.                              | Erasca, Inc.                                            | CUSIP: 29479A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10400 | NS      | $14560.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Repurchase Agreement                      | Repurchase Agreement                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |    673556 | PA      | $673556.19    | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Compass Pathways plc                      | Compass Pathways plc                                    | CUSIP: 20451W101<br>LEI: 213800N7CUZIC6QSTZ31 | Long             | EC               | CORP              | GB        |      2284 | NS      | $9501.44      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyra Biosciences, Inc.                    | Tyra Biosciences, Inc.                                  | CUSIP: 90240B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1861 | NS      | $16935.10     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Moderna, Inc.                             | Moderna, Inc.                                           | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |     14193 | NS      | $376966.08    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynavax Technologies Corp.                | Dynavax Technologies Corp.                              | CUSIP: 268158201<br>LEI: 549300T5URIXWDILX594 | Long             | EC               | CORP              | US        |      4564 | NS      | $44681.56     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Repurchase Agreement                      | Repurchase Agreement                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | RA               | CORP              | US        |   1994303 | PA      | $1994302.80   | 4.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Alkermes plc                              | Alkermes plc                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IE        |      5982 | NS      | $183109.02    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                       | Total Return Swap                                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      3863 | NC      | $-5907492.50  | -13.34%           |  |  |  | No            |                  2 | On Loan: No      |
| Veracyte, Inc.                            | Veracyte, Inc.                                          | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |      2867 | NS      | $76290.87     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Anavex Life Sciences Corp.                | Anavex Life Sciences Corp.                              | CUSIP: 032797300<br>LEI: 549300K1I5L8COCQ8W36 | Long             | EC               | CORP              | US        |      3129 | NS      | $23561.37     | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| Terns Pharmaceuticals, Inc.               | Terns Pharmaceuticals, Inc.                             | CUSIP: 880881107<br>LEI: 254900S1ZDQMF4MYP709 | Long             | EC               | CORP              | US        |      3125 | NS      | $9718.75      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Neumora Therapeutics, Inc.                | Neumora Therapeutics, Inc.                              | CUSIP: 640979100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5943 | NS      | $4256.97      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Verve Therapeutics, Inc.                  | Verve Therapeutics, Inc.                                | CUSIP: 92539P101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3266 | NS      | $14533.70     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** ProShares Trust

**Signature:** Maria Clem Sell

**Name of Signer:** Maria Clem Sell

**Title:** Treasurer