# EDGAR Filing Document

**Accession Number:** 0001785971
**File Stem:** 0001410368-25-032157
**Filing Date:** 2025-11
**Character Count:** 159055
**Document Hash:** 9b01d590548162d31a883fdbb5d2d13e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-032157.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001410368-25-032157

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Health Sciences Term Trust
- **CENTRAL INDEX KEY:** 0001785971

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23466
- **FILM NUMBER:** 251525885

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800 882 0052

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BlackRock Health Sciences Trust II
- **DATE OF NAME CHANGE:** 20190820

## Nport-Ex

September 30, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**BlackRock Health Sciences Term Trust (BMEZ)**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

September 30, 2025

**BlackRock Health Sciences Term Trust (BMEZ)** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Biotechnology**<sup>(a)</sup> **— 34.1%** | **Biotechnology**<sup>(a)</sup> **— 34.1%** |  |
| 4D Molecular Therapeutics, Inc. | 63685 | &nbsp;&nbsp; $553423 |
| Abbisko Cayman Ltd. | 4562250 | &nbsp;&nbsp; 10547128 |
| Abcuro, Inc., Series C<sup>(b)</sup> | 241900 | &nbsp;&nbsp; 1451400 |
| Akeso, Inc.<sup>(c)</sup> | 548000 | &nbsp;&nbsp; 9956111 |
| Alkermes PLC<sup>(d)</sup> | 162816 | &nbsp;&nbsp; 4884480 |
| Allogene Therapeutics, Inc. | 425415 | &nbsp;&nbsp; 527515 |
| Alnylam Pharmaceuticals, Inc.<sup>(e)</sup> | 118016 | &nbsp;&nbsp; 53815296 |
| Annexon, Inc. | 144084 | &nbsp;&nbsp; 439456 |
| Arcellx, Inc. | 26392 | &nbsp;&nbsp; 2166783 |
| Arcus Biosciences, Inc. | 99007 | &nbsp;&nbsp; 1346495 |
| Ascendis Pharma A/S, ADR | 20428 | &nbsp;&nbsp; 4061291 |
| Autolus Therapeutics PLC, ADR | 463993 | &nbsp;&nbsp; 756309 |
| Avidity Biosciences, Inc. | 36258 | &nbsp;&nbsp; 1579761 |
| Beam Therapeutics, Inc.<sup>(d)</sup> | 95917 | &nbsp;&nbsp; 2327906 |
| Bicycle Therapeutics PLC, ADR | 53067 | &nbsp;&nbsp; 410739 |
| Biogen, Inc. | 37120 | &nbsp;&nbsp; 5199770 |
| Biohaven Ltd. | 88609 | &nbsp;&nbsp; 1330021 |
| BioMarin Pharmaceutical, Inc. | 84744 | &nbsp;&nbsp; 4589735 |
| BioNTech SE, ADR | 18918 | &nbsp;&nbsp; 1865693 |
| Black Diamond Therapeutics, Inc.<sup>(d)</sup> | 504978 | &nbsp;&nbsp; 1913867 |
| BridgeBio Oncology Therapeutics, Inc.<sup>(d)</sup> | 544465 | &nbsp;&nbsp; 6304905 |
| Bridgebio Pharma, Inc. | 102653 | &nbsp;&nbsp; 5331797 |
| CG oncology, Inc. | 25078 | &nbsp;&nbsp; 1010142 |
| Denali Therapeutics, Inc. | 169834 | &nbsp;&nbsp; 2465990 |
| Disc Medicine, Inc. | 28021 | &nbsp;&nbsp; 1851628 |
| Dyne Therapeutics, Inc. | 116674 | &nbsp;&nbsp; 1475926 |
| Exact Sciences Corp. | 263762 | &nbsp;&nbsp; 14430419 |
| Exelixis, Inc. | 227940 | &nbsp;&nbsp; 9413922 |
| Genmab A/S | 50248 | &nbsp;&nbsp; 15503932 |
| Halozyme Therapeutics, Inc. | 58978 | &nbsp;&nbsp; 4325446 |
| Immatics NV<sup>(d)</sup> | 162650 | &nbsp;&nbsp; 1385778 |
| Immunocore Ltd., Series C, ADR | 321900 | &nbsp;&nbsp; 11694627 |
| Incyte Corp. | 87390 | &nbsp;&nbsp; 7411546 |
| Insmed, Inc.<sup>(f)</sup> | 180581 | &nbsp;&nbsp; 26005470 |
| Ionis Pharmaceuticals, Inc. | 59102 | &nbsp;&nbsp; 3866453 |
| Kiniksa Pharmaceuticals International PLC | 84235 | &nbsp;&nbsp; 3270845 |
| Kymera Therapeutics, Inc. | 15237 | &nbsp;&nbsp; 862414 |
| Legend Biotech Corp., ADR | 42405 | &nbsp;&nbsp; 1382827 |
| Merus NV | 21187 | &nbsp;&nbsp; 1994756 |
| Moderna, Inc. | 45375 | &nbsp;&nbsp; 1172036 |
| Monte Rosa Therapeutics, Inc. | 155206 | &nbsp;&nbsp; 1150076 |
| Natera, Inc. | 67562 | &nbsp;&nbsp; 10875455 |
| Neurocrine Biosciences, Inc. | 91508 | &nbsp;&nbsp; 12845893 |
| Neurogene, Inc. | 82832 | &nbsp;&nbsp; 1435479 |
| Nuvalent, Inc., Class A | 134486 | &nbsp;&nbsp; 11630349 |
| Olema Pharmaceuticals, Inc. | 57725 | &nbsp;&nbsp; 565128 |
| OnKure Therapeutics, Inc., Class A | 463586 | &nbsp;&nbsp; 1274861 |
| ORIC Pharmaceuticals, Inc. | 138524 | &nbsp;&nbsp; 1662288 |
| Protagonist Therapeutics, Inc. | 132647 | &nbsp;&nbsp; 8811740 |
| PTC Therapeutics, Inc. | 81756 | &nbsp;&nbsp; 5017366 |
| REGENXBIO, Inc. | 64920 | &nbsp;&nbsp; 626478 |
| ReNAgade Therapeutics, Inc., Series A-2<sup>(b)</sup> | 3584906 | &nbsp;&nbsp; 8890567 |
| Revolution Medicines, Inc. | 24290 | &nbsp;&nbsp; 1134343 |
| Rhythm Pharmaceuticals, Inc. | 185663 | &nbsp;&nbsp; 18750106 |
| Roivant Sciences Ltd. | 245238 | &nbsp;&nbsp; 3710451 |
| Sagimet Biosciences, Inc., Series A | 237980 | &nbsp;&nbsp; 1632543 |
| Scholar Rock Holding Corp. | 42838 | &nbsp;&nbsp; 1595287 |
| Stoke Therapeutics, Inc.<sup>(d)</sup> | 309103 | &nbsp;&nbsp; 7263920 |
| Summit Therapeutics, Inc.<sup>(d)</sup> | 47320 | &nbsp;&nbsp; 977631 |
| TScan Therapeutics, Inc. | 609800 | &nbsp;&nbsp; 1109836 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| Twist Bioscience Corp. | 80595 | &nbsp;&nbsp; $2267943 |
| Ultragenyx Pharmaceutical, Inc. | 26815 | &nbsp;&nbsp; 806595 |
| United Therapeutics Corp. | 3060 | &nbsp;&nbsp; 1282783 |
| Upstream Bio, Inc. | 55965 | &nbsp;&nbsp; 1052702 |
| Vaxcyte, Inc. | 32817 | &nbsp;&nbsp; 1182068 |
| Viking Therapeutics, Inc. | 24596 | &nbsp;&nbsp; 646383 |
| Vir Biotechnology, Inc. | 44171 | &nbsp;&nbsp; 252216 |
| Voyager Therapeutics, Inc. | 211857 | &nbsp;&nbsp; 989372 |
| Zealand Pharma A/S | 29510 | &nbsp;&nbsp; 2176216 |
|  |  | &nbsp;&nbsp; 342500113 |
| **Health Care Equipment & Supplies — 18.0%** | **Health Care Equipment & Supplies — 18.0%** |  |
| Abbott Laboratories<sup>(f)</sup> | 184653 | &nbsp;&nbsp; 24732423 |
| Becton Dickinson & Co. | 24837 | &nbsp;&nbsp; 4648741 |
| Boston Scientific Corp.<sup>(a)(e)(f)</sup> | 68525 | &nbsp;&nbsp; 6690096 |
| Dexcom, Inc.<sup>(a)(e)(f)</sup> | 308482 | &nbsp;&nbsp; 20757754 |
| Edwards Lifesciences Corp.<sup>(a)</sup> | 216810 | &nbsp;&nbsp; 16861314 |
| &nbsp;&nbsp;&nbsp; EXO Imaging, Inc., (Acquired 06/24/21, Cost: <br> $13,225,003)<sup>(a)(b)(g)</sup><br>| 22576 | &nbsp;&nbsp; 8127 |
| Glaukos Corp.<sup>(a)</sup> | 26050 | &nbsp;&nbsp; 2124377 |
| IDEXX Laboratories, Inc.<sup>(a)</sup> | 36740 | &nbsp;&nbsp; 23472819 |
| Inspire Medical Systems, Inc.<sup>(a)</sup> | 39579 | &nbsp;&nbsp; 2936762 |
| Insulet Corp.<sup>(a)</sup> | 58827 | &nbsp;&nbsp; 18161660 |
| Intuitive Surgical, Inc.<sup>(a)</sup> | 3135 | &nbsp;&nbsp; 1402066 |
| Lantheus Holdings, Inc.<sup>(a)</sup> | 41510 | &nbsp;&nbsp; 2129048 |
| Medtronic PLC | 165394 | &nbsp;&nbsp; 15752124 |
| Novocure Ltd.<sup>(a)</sup> | 155581 | &nbsp;&nbsp; 2010106 |
| &nbsp;&nbsp;&nbsp; Nucleix Ltd., (Acquired 04/10/24, Cost: <br> $1,300,000)<sup>(a)(b)(g)</sup><br>| 1300 | &nbsp;&nbsp; 965510 |
| Nyxoah SA<sup>(a)(d)</sup> | 254299 | &nbsp;&nbsp; 1169775 |
| Orchestra BioMed Holdings, Inc.<sup>(a)(d)</sup> | 136066 | &nbsp;&nbsp; 337444 |
| Penumbra, Inc.<sup>(a)</sup> | 36577 | &nbsp;&nbsp; 9265686 |
| Sonova Holding AG, Registered Shares | 57600 | &nbsp;&nbsp; 15800033 |
| Stryker Corp. | 29432 | &nbsp;&nbsp; 10880127 |
|  |  | &nbsp;&nbsp; 180105992 |
| **Health Care Providers & Services — 8.0%** | **Health Care Providers & Services — 8.0%** |  |
| Cencora, Inc. | 31471 | &nbsp;&nbsp; 9835632 |
| Chemed Corp. | 6754 | &nbsp;&nbsp; 3024036 |
| Encompass Health Corp. | 60613 | &nbsp;&nbsp; 7699063 |
| Guardant Health, Inc.<sup>(a)</sup> | 215976 | &nbsp;&nbsp; 13494181 |
| Labcorp Holdings, Inc. | 36336 | &nbsp;&nbsp; 10430612 |
| McKesson Corp. | 13076 | &nbsp;&nbsp; 10101733 |
| Quest Diagnostics, Inc. | 41442 | &nbsp;&nbsp; 7898016 |
| RadNet, Inc.<sup>(a)</sup> | 38559 | &nbsp;&nbsp; 2938581 |
| Tenet Healthcare Corp.<sup>(a)</sup> | 70897 | &nbsp;&nbsp; 14394927 |
|  |  | &nbsp;&nbsp; 79816781 |
| **Health Care Technology — 4.2%** | **Health Care Technology — 4.2%** |  |
| &nbsp;&nbsp;&nbsp; Carbon Health Technologies, Inc., (Acquired <br> 05/28/25, Cost: $18,326,000)<sup>(a)(b)(g)</sup><br>| 2759320 | &nbsp;&nbsp; 27593 |
| HeartFlow, Inc.<sup>(a)</sup> | 4301 | &nbsp;&nbsp; 144772 |
| M3, Inc. | 462800 | &nbsp;&nbsp; 7491947 |
| Veeva Systems, Inc., Class A<sup>(a)(e)(f)</sup> | 116456 | &nbsp;&nbsp; 34693407 |
|  |  | &nbsp;&nbsp; 42357719 |
| **Life Sciences Tools & Services — 12.6%** | **Life Sciences Tools & Services — 12.6%** |  |
| Agilent Technologies, Inc. | 40785 | &nbsp;&nbsp; 5234755 |
| Bio-Techne Corp. | 119215 | &nbsp;&nbsp; 6631930 |
| Bruker Corp. | 196940 | &nbsp;&nbsp; 6398581 |
| Charles River Laboratories International, Inc.<sup>(a)</sup> | 32635 | &nbsp;&nbsp; 5106072 |
| Gerresheimer AG | 29709 | &nbsp;&nbsp; 1237625 |
| Lonza Group AG, Registered Shares | 14800 | &nbsp;&nbsp; 9895847 |
| Mettler-Toledo International, Inc.<sup>(a)</sup> | 5824 | &nbsp;&nbsp; 7149601 |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Health Sciences Term Trust (BMEZ)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Life Sciences Tools & Services (continued)** | **Life Sciences Tools & Services (continued)** |  |
| QIAGEN NV | 169456 | &nbsp;&nbsp; $7571294 |
| Rapid Micro Biosystems, Inc., Class A<sup>(a)</sup> | 333064 | &nbsp;&nbsp; 1112434 |
| Repligen Corp.<sup>(a)</sup> | 119498 | &nbsp;&nbsp; 15973298 |
| Tempus AI, Inc., Class A<sup>(a)</sup> | 49915 | &nbsp;&nbsp; 4028640 |
| Waters Corp.<sup>(a)(e)</sup> | 25346 | &nbsp;&nbsp; 7598984 |
| West Pharmaceutical Services, Inc.<sup>(e)</sup> | 94164 | &nbsp;&nbsp; 24702042 |
| Wuxi Biologics Cayman, Inc.<sup>(a)(c)</sup> | 4546000 | &nbsp;&nbsp; 24005216 |
|  |  | &nbsp;&nbsp; 126646319 |
| **Pharmaceuticals — 8.8%** | **Pharmaceuticals — 8.8%** |  |
| Arvinas, Inc.<sup>(a)</sup> | 147562 | &nbsp;&nbsp; 1257228 |
| AstraZeneca PLC, ADR | 62740 | &nbsp;&nbsp; 4813413 |
| Axsome Therapeutics, Inc.<sup>(a)</sup> | 42781 | &nbsp;&nbsp; 5195753 |
| Daiichi Sankyo Co. Ltd. | 121700 | &nbsp;&nbsp; 2738274 |
| Edgewise Therapeutics, Inc.<sup>(a)</sup> | 109871 | &nbsp;&nbsp; 1782108 |
| Eisai Co. Ltd. | 79400 | &nbsp;&nbsp; 2682354 |
| Elanco Animal Health, Inc.<sup>(a)</sup> | 270205 | &nbsp;&nbsp; 5441929 |
| Galderma Group AG | 112660 | &nbsp;&nbsp; 19918314 |
| Harmony Biosciences Holdings, Inc.<sup>(a)</sup> | 41120 | &nbsp;&nbsp; 1133267 |
| Johnson & Johnson<sup>(f)</sup> | 86520 | &nbsp;&nbsp; 16042538 |
| LB Pharmaceuticals, Inc.<sup>(a)</sup> | 210898 | &nbsp;&nbsp; 3330079 |
| MBX Biosciences, Inc.<sup>(a)</sup> | 164091 | &nbsp;&nbsp; 2871593 |
| Nuvation Bio, Inc., Class A<sup>(a)(d)</sup> | 191533 | &nbsp;&nbsp; 708672 |
| Roche Holding AG | 10284 | &nbsp;&nbsp; 3424402 |
| Teva Pharmaceutical Industries Ltd., ADR<sup>(a)</sup> | 446565 | &nbsp;&nbsp; 9020613 |
| UCB SA | 25950 | &nbsp;&nbsp; 7243551 |
| WaVe Life Sciences Ltd.<sup>(a)</sup> | 151116 | &nbsp;&nbsp; 1106169 |
|  |  | &nbsp;&nbsp; 88710257 |
| **Total Common Stocks — 85.7%** <br>**(Cost: $728,494,181)** | **Total Common Stocks — 85.7%** <br>**(Cost: $728,494,181)** | &nbsp;&nbsp; 860137181 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | *Benefical* <br>*Interest (000)*<br>|  |
| **Other Interests** | **Other Interests** | **Other Interests** |
| **Biotechnology**<sup>(b)(g)(h)</sup> **— 0.2%** | **Biotechnology**<sup>(b)(g)(h)</sup> **— 0.2%** |  |
| Affinivax, Inc., (Acquired 08/18/22, Cost: $—) | $183 | &nbsp;&nbsp; 1813324 |
| &nbsp;&nbsp;&nbsp; Amunix Pharmaceuticals, Inc., (Acquired 02/08/22, <br> Cost: $—)<br>| 5657 | &nbsp;&nbsp; 282853 |
| **Total Other Interests — 0.2%** <br>**(Cost: $—)** | **Total Other Interests — 0.2%** <br>**(Cost: $—)** | &nbsp;&nbsp; 2096177 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Preferred Securities** | **Preferred Securities** | **Preferred Securities** |
| **Preferred Stocks — 13.1%** | **Preferred Stocks — 13.1%** | **Preferred Stocks — 13.1%** |
| **Biotechnology**<sup>(a)(b)</sup> **— 6.6%** | **Biotechnology**<sup>(a)(b)</sup> **— 6.6%** |  |
| Abcuro, Inc., Series B | 1092954 | &nbsp;&nbsp; 6448429 |
| &nbsp;&nbsp;&nbsp; Adarx Pharamaceuticals, Inc., Series C, (Acquired <br> 08/02/23, Cost: $7,160,001)<sup>(g)</sup><br>| 860577 | &nbsp;&nbsp; 10232261 |
| &nbsp;&nbsp;&nbsp; Bright Peak Therapeutics, Inc., Series B, (Acquired <br> 05/14/21, Cost: $8,000,004)<sup>(g)</sup><br>| 3191830 | &nbsp;&nbsp; 3287585 |
| &nbsp;&nbsp;&nbsp; Cellarity, Inc., Series B, (Acquired 01/15/21, Cost: <br> $14,584,998)<sup>(g)</sup><br>| 2430833 | &nbsp;&nbsp; 4983208 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Biotechnology (continued)** | **Biotechnology (continued)** |  |
| &nbsp;&nbsp;&nbsp; Genesis Therapeutics, Inc., Series B, (Acquired <br> 08/10/23, Cost: $6,999,996)<sup>(g)</sup><br>| 1370506 | &nbsp;&nbsp; $7592603 |
| &nbsp;&nbsp;&nbsp; Goldfinch Bio, Inc., Series B, (Acquired 06/26/20, <br> Cost: $4,543,847)<sup>(g)</sup><br>| 3850718 | &nbsp;&nbsp; 1540287 |
| Kartos Therapeutics, Inc.<sup>(g)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Series C, (Acquired 08/22/23, Cost: $7,539,875) | 1333783 | &nbsp;&nbsp; 7575887 |
| &nbsp;&nbsp;&nbsp; Series D, (Acquired 02/19/25, Cost: $2,074,436) | 366962 | &nbsp;&nbsp; 2084344 |
| &nbsp;&nbsp;&nbsp; Laronde, Inc., Series B, (Acquired 07/28/21, Cost: <br> $13,498,156)<sup>(g)</sup><br>| 482077 | &nbsp;&nbsp; 11714471 |
| Mirvie, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series B, (Acquired 10/15/21, Cost: $6,250,000)<sup>(g)</sup> | 2793833 | &nbsp;&nbsp; 4078996 |
| &nbsp;&nbsp;&nbsp; Series C | 724806 | &nbsp;&nbsp; 1623565 |
| &nbsp;&nbsp;&nbsp; NiKang Therapeutics, Inc., Series C, (Acquired <br> 05/20/21, Cost: $7,999,996)<sup>(g)</sup><br>| 1394189 | &nbsp;&nbsp; 4977255 |
|  |  | &nbsp;&nbsp; 66138891 |
| **Health Care Equipment & Supplies**<sup>(a)(b)(g)</sup> **— 1.1%** | **Health Care Equipment & Supplies**<sup>(a)(b)(g)</sup> **— 1.1%** |  |
| &nbsp;&nbsp;&nbsp; EXO Imaging, Inc., Series D, (Acquired 07/24/24, <br> Cost: $640,450)<br>| 1053928 | &nbsp;&nbsp; 779907 |
| &nbsp;&nbsp;&nbsp; Nucleix Ltd., Series AA, (Acquired 03/25/21, Cost: <br> $6,929,998)<br>| 2379480 | &nbsp;&nbsp; 1451483 |
| &nbsp;&nbsp;&nbsp; Quanta Dialysis Technologies Ltd., Series D, <br> (Acquired 06/18/21, Cost: $14,071,890)<br>| 115766240 | &nbsp;&nbsp; 8251779 |
| &nbsp;&nbsp;&nbsp; Swift Health Systems, Inc., Series D, (Acquired <br> 08/27/21, Cost: $6,441,930)<br>| 2078 | &nbsp;&nbsp; 4634 |
|  |  | &nbsp;&nbsp; 10487803 |
| **Health Care Providers & Services**<sup>(a)(b)(g)</sup> **— 1.5%** | **Health Care Providers & Services**<sup>(a)(b)(g)</sup> **— 1.5%** |  |
| &nbsp;&nbsp;&nbsp; Everly Well, Inc., Series D, (Acquired 11/25/20, Cost: <br> $9,999,986)<br>| 382775 | &nbsp;&nbsp; 5642104 |
| &nbsp;&nbsp;&nbsp; Numab Therapeutics AG, Series C, (Acquired <br> 05/07/21, Cost: $9,204,219)<br>| 1139305 | &nbsp;&nbsp; 8916362 |
|  |  | &nbsp;&nbsp; 14558466 |
| **Life Sciences Tools & Services — 0.7%** | **Life Sciences Tools & Services — 0.7%** |  |
| Sartorius AG | 31307 | &nbsp;&nbsp; 7318843 |
| **Pharmaceuticals**<sup>(a)(b)(g)</sup> **— 0.9%** | **Pharmaceuticals**<sup>(a)(b)(g)</sup> **— 0.9%** |  |
| Insitro, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series B, (Acquired 05/21/20, Cost: $5,000,000) | 802478 | &nbsp;&nbsp; 7350699 |
| &nbsp;&nbsp;&nbsp; Series C, (Acquired 03/10/21, Cost: $3,600,018) | 196818 | &nbsp;&nbsp; 1802853 |
|  |  | &nbsp;&nbsp; 9153552 |
| **Semiconductors & Semiconductor Equipment — 2.3%** | **Semiconductors & Semiconductor Equipment — 2.3%** |  |
| &nbsp;&nbsp;&nbsp; PsiQuantum Corp., Series D, (Acquired 05/21/21, <br> Cost: $14,999,996)<sup>(a)(b)(g)</sup><br>| 571947 | &nbsp;&nbsp; 23478424 |
|  |  | &nbsp;&nbsp; 131135979 |
| **Total Preferred Securities — 13.1%** <br>**(Cost: $165,481,913)** | **Total Preferred Securities — 13.1%** <br>**(Cost: $165,481,913)** | &nbsp;&nbsp; 131135979 |
| **Rights** | **Rights** | **Rights** |
| **Biotechnology**<sup>(b)</sup> **— 0.0%** | **Biotechnology**<sup>(b)</sup> **— 0.0%** |  |
| Blueprint Medicines Corp., CVR | 36582 | &nbsp;&nbsp; 35485 |
| Korro Bio, Inc., CVR | 231775 | &nbsp;&nbsp; 2 |
| Mirati Therapeutics, Inc. CVR<sup>(d)</sup> | 180175 | &nbsp;&nbsp; 140536 |
| Vigil Neuroscience, Inc., CVR | 131344 | &nbsp;&nbsp; 6567 |
|  |  | &nbsp;&nbsp; 182590 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Health Sciences Term Trust (BMEZ)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Health Care Equipment & Supplies — 0.0%** | **Health Care Equipment & Supplies — 0.0%** |  |
| Abiomed, Inc., CVR<sup>(b)</sup> | 98636 | &nbsp;&nbsp; $221931 |
| **Total Rights — 0.0%** <br>**(Cost: $250,126)** | **Total Rights — 0.0%** <br>**(Cost: $250,126)** | &nbsp;&nbsp; 404521 |
| **Warrants** | **Warrants** | **Warrants** |
| **Pharmaceuticals — 0.0%** | **Pharmaceuticals — 0.0%** |  |
| &nbsp;&nbsp;&nbsp; Nuvation Bio, Inc., (Issued/Exercisable 08/17/20, <br> 1 Share for 1 Warrant, Expires 07/07/27, Strike <br> Price USD 11.50)<sup>(a)</sup><br>| 68880 | &nbsp;&nbsp; 13921 |
| **Total Warrants — 0.0%** <br>**(Cost: $137,002)** | **Total Warrants — 0.0%** <br>**(Cost: $137,002)** | &nbsp;&nbsp; 13921 |
| **Total Long-Term Investments — 99.0%** <br>**(Cost: $894,363,222)** | **Total Long-Term Investments — 99.0%** <br>**(Cost: $894,363,222)** | &nbsp;&nbsp; 993787779 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 2.9%** | **Money Market Funds — 2.9%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 4.26%<sup>(i)(j)(k)</sup><br>| 4999419 | &nbsp;&nbsp; 5001919 |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, Institutional <br> Shares, 4.01%<sup>(i)(j)</sup><br>| 23854564 | &nbsp;&nbsp; 23854564 |
| **Total Short-Term Securities — 2.9%** <br>**(Cost: $28,856,760)** | **Total Short-Term Securities — 2.9%** <br>**(Cost: $28,856,760)** | &nbsp;&nbsp; 28856483 |
| **Total Investments Before Options Written — 101.9%** <br>**(Cost: $923,219,982)** | **Total Investments Before Options Written — 101.9%** <br>**(Cost: $923,219,982)** | &nbsp;&nbsp; 1022644262 |
| **Options Written — (1.2)%** <br>**(Premiums Received: $(9709102))** | **Options Written — (1.2)%** <br>**(Premiums Received: $(9709102))** | &nbsp;&nbsp; (11742869)<br>|
| **Total Investments, Net of Options Written — 100.7%** <br>**(Cost: $913,510,880)** | **Total Investments, Net of Options Written — 100.7%** <br>**(Cost: $913,510,880)** | &nbsp;&nbsp; 1010901393 |
| **Liabilities in Excess of Other Assets — (0.7)%** | **Liabilities in Excess of Other Assets — (0.7)%** | &nbsp;&nbsp; (7315178)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $1003586215 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(c)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(d)</sup> All or a portion of this security is on loan.

<sup>(e)</sup> All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. 

<sup>(f)</sup> All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives. 

<sup>(g)</sup> Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $118,842,549, representing 11.8% of its net assets as of period end, and an original cost of $182,390,799. 

<sup>(h)</sup> Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. 

<sup>(i)</sup> Affiliate of the Trust.

<sup>(j)</sup> Annualized 7-day yield as of period end.

<sup>(k)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Trust for compliance purposes.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Trust during the period ended September 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*12/31/24*<br>| *Purchases* <br>*at Cost*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*09/30/25*<br>| *Shares* <br>*Held at* <br>*09/30/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $10228113 | $—<br> $(5227858 )<sup>(a)</sup><br>| &nbsp;&nbsp; $1162 | $502 | $5001919 | 4999419 | $48534 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, Institutional <br> Shares<br>| 51121570 | —<br> (27267006 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 23854564 | 23854564 | 1946635 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $1162 | $502 | $28856483 |  | $1995169 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of collateral investment fees, and other payments to and from borrowers of securities. 

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Health Sciences Term Trust (BMEZ)** 

**Derivative Financial Instruments Outstanding as of Period End**

**Exchange-Traded Options Written** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| &nbsp;&nbsp; *Expiration* <br>*Date*<br>| *Exercise Price* | *Exercise Price* | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* |
| Call  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | &nbsp;&nbsp; 168 | &nbsp;&nbsp;&nbsp;&nbsp; 10/03/25 | USD | 180.00 | USD | 3115 | &nbsp;&nbsp;&nbsp;&nbsp; $(95760)<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Industries Ltd., ADR | &nbsp;&nbsp; 848 | &nbsp;&nbsp;&nbsp;&nbsp; 10/03/25 | USD | 19.50 | USD | 1713 | &nbsp;&nbsp;&nbsp;&nbsp; (76744)<br>|
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | &nbsp;&nbsp; 331 | &nbsp;&nbsp;&nbsp;&nbsp; 10/10/25 | USD | 136.00 | USD | 4433 | &nbsp;&nbsp;&nbsp;&nbsp; (37569)<br>|
| &nbsp;&nbsp;&nbsp; Dexcom, Inc. | &nbsp;&nbsp; 338 | &nbsp;&nbsp;&nbsp;&nbsp; 10/10/25 | USD | 85.00 | USD | 2274 | &nbsp;&nbsp;&nbsp;&nbsp; (18590)<br>|
| &nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. | &nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 130.00 | USD | 988 | &nbsp;&nbsp;&nbsp;&nbsp; (21753)<br>|
| &nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. | &nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 135.00 | USD | 988 | &nbsp;&nbsp;&nbsp;&nbsp; (8085)<br>|
| &nbsp;&nbsp;&nbsp; Alkermes PLC | &nbsp;&nbsp; 618 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 29.00 | USD | 1854 | &nbsp;&nbsp;&nbsp;&nbsp; (106605)<br>|
| &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc. | &nbsp;&nbsp; 225 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 470.00 | USD | 10260 | &nbsp;&nbsp;&nbsp;&nbsp; (187875)<br>|
| &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc. | &nbsp;&nbsp; 223 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 490.00 | USD | 10169 | &nbsp;&nbsp;&nbsp;&nbsp; (71917)<br>|
| &nbsp;&nbsp;&nbsp; Arcellx, Inc. | &nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 75.00 | USD | 829 | &nbsp;&nbsp;&nbsp;&nbsp; (82315)<br>|
| &nbsp;&nbsp;&nbsp; Arvinas, Inc. | &nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 7.50 | USD | 204 | &nbsp;&nbsp;&nbsp;&nbsp; (27600)<br>|
| &nbsp;&nbsp;&nbsp; Axsome Therapeutics, Inc. | &nbsp;&nbsp; 81 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 110.00 | USD | 984 | &nbsp;&nbsp;&nbsp;&nbsp; (98010)<br>|
| &nbsp;&nbsp;&nbsp; Beam Therapeutics, Inc. | &nbsp;&nbsp; 182 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 19.96 | USD | 442 | &nbsp;&nbsp;&nbsp;&nbsp; (82493)<br>|
| &nbsp;&nbsp;&nbsp; Becton Dickinson & Co. | &nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 195.00 | USD | 1759 | &nbsp;&nbsp;&nbsp;&nbsp; (11985)<br>|
| &nbsp;&nbsp;&nbsp; Biogen, Inc. | &nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 150.00 | USD | 1317 | &nbsp;&nbsp;&nbsp;&nbsp; (11750)<br>|
| &nbsp;&nbsp;&nbsp; Biohaven Ltd. | &nbsp;&nbsp; 168 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 22.50 | USD | 252 | &nbsp;&nbsp;&nbsp;&nbsp; (10080)<br>|
| &nbsp;&nbsp;&nbsp; Biohaven Ltd. | &nbsp;&nbsp; 168 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 20.00 | USD | 252 | &nbsp;&nbsp;&nbsp;&nbsp; (15120)<br>|
| &nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc. | &nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 62.50 | USD | 872 | &nbsp;&nbsp;&nbsp;&nbsp; (2013)<br>|
| &nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc. | &nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 57.50 | USD | 872 | &nbsp;&nbsp;&nbsp;&nbsp; (11673)<br>|
| &nbsp;&nbsp;&nbsp; BioNTech SE, ADR | &nbsp;&nbsp; 71 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 105.00 | USD | 700 | &nbsp;&nbsp;&nbsp;&nbsp; (8165)<br>|
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp. | &nbsp;&nbsp; 99 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 105.00 | USD | 967 | &nbsp;&nbsp;&nbsp;&nbsp; (1980)<br>|
| &nbsp;&nbsp;&nbsp; Bruker Corp. | &nbsp;&nbsp; 400 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 40.00 | USD | 1300 | &nbsp;&nbsp;&nbsp;&nbsp; (6000)<br>|
| &nbsp;&nbsp;&nbsp; Bruker Corp. | &nbsp;&nbsp; 348 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 35.00 | USD | 1131 | &nbsp;&nbsp;&nbsp;&nbsp; (27840)<br>|
| &nbsp;&nbsp;&nbsp; Denali Therapeutics, Inc. | &nbsp;&nbsp; 645 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 14.19 | USD | 937 | &nbsp;&nbsp;&nbsp;&nbsp; (53563)<br>|
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp. | &nbsp;&nbsp; 350 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 77.50 | USD | 2722 | &nbsp;&nbsp;&nbsp;&nbsp; (63000)<br>|
| &nbsp;&nbsp;&nbsp; Encompass Health Corp. | &nbsp;&nbsp; 230 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 130.00 | USD | 2921 | &nbsp;&nbsp;&nbsp;&nbsp; (34500)<br>|
| &nbsp;&nbsp;&nbsp; Exact Sciences Corp. | &nbsp;&nbsp; 478 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 52.50 | USD | 2615 | &nbsp;&nbsp;&nbsp;&nbsp; (172080)<br>|
| &nbsp;&nbsp;&nbsp; Exelixis, Inc. | &nbsp;&nbsp; 867 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 41.00 | USD | 3581 | &nbsp;&nbsp;&nbsp;&nbsp; (110542)<br>|
| &nbsp;&nbsp;&nbsp; Glaukos Corp. | &nbsp;&nbsp; 98 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 90.00 | USD | 799 | &nbsp;&nbsp;&nbsp;&nbsp; (6370)<br>|
| &nbsp;&nbsp;&nbsp; Guardant Health, Inc. | &nbsp;&nbsp; 225 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 60.00 | USD | 1406 | &nbsp;&nbsp;&nbsp;&nbsp; (99000)<br>|
| &nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc. | &nbsp;&nbsp; 224 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 80.00 | USD | 1643 | &nbsp;&nbsp;&nbsp;&nbsp; (15120)<br>|
| &nbsp;&nbsp;&nbsp; Incyte Corp. | &nbsp;&nbsp; 126 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 90.00 | USD | 1069 | &nbsp;&nbsp;&nbsp;&nbsp; (9135)<br>|
| &nbsp;&nbsp;&nbsp; Insmed, Inc. | &nbsp;&nbsp; 79 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 125.00 | USD | 1138 | &nbsp;&nbsp;&nbsp;&nbsp; (164715)<br>|
| &nbsp;&nbsp;&nbsp; Insmed, Inc. | &nbsp;&nbsp; 607 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 150.00 | USD | 8741 | &nbsp;&nbsp;&nbsp;&nbsp; (174512)<br>|
| &nbsp;&nbsp;&nbsp; Inspire Medical Systems, Inc. | &nbsp;&nbsp; 150 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 90.00 | USD | 1113 | &nbsp;&nbsp;&nbsp;&nbsp; (8250)<br>|
| &nbsp;&nbsp;&nbsp; Insulet Corp. | &nbsp;&nbsp; 223 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 350.00 | USD | 6885 | &nbsp;&nbsp;&nbsp;&nbsp; (78050)<br>|
| &nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc. | &nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 465.00 | USD | 492 | &nbsp;&nbsp;&nbsp;&nbsp; (6270)<br>|
| &nbsp;&nbsp;&nbsp; Ionis Pharmaceuticals, Inc. | &nbsp;&nbsp; 224 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 65.01 | USD | 1465 | &nbsp;&nbsp;&nbsp;&nbsp; (87372)<br>|
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | &nbsp;&nbsp; 160 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 180.00 | USD | 2967 | &nbsp;&nbsp;&nbsp;&nbsp; (112800)<br>|
| &nbsp;&nbsp;&nbsp; Kymera Therapeutics, Inc. | &nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 55.00 | USD | 323 | &nbsp;&nbsp;&nbsp;&nbsp; (24795)<br>|
| &nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | &nbsp;&nbsp; 73 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 290.00 | USD | 2096 | &nbsp;&nbsp;&nbsp;&nbsp; (28470)<br>|
| &nbsp;&nbsp;&nbsp; Medtronic PLC | &nbsp;&nbsp; 103 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 95.00 | USD | 981 | &nbsp;&nbsp;&nbsp;&nbsp; (18643)<br>|
| &nbsp;&nbsp;&nbsp; Mettler-Toledo International, Inc. | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 1310.00 | USD | 4419 | &nbsp;&nbsp;&nbsp;&nbsp; (17190)<br>|
| &nbsp;&nbsp;&nbsp; Moderna, Inc. | &nbsp;&nbsp; 172 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 26.00 | USD | 444 | &nbsp;&nbsp;&nbsp;&nbsp; (28380)<br>|
| &nbsp;&nbsp;&nbsp; Natera, Inc. | &nbsp;&nbsp; 128 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 170.00 | USD | 2060 | &nbsp;&nbsp;&nbsp;&nbsp; (32640)<br>|
| &nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc. | &nbsp;&nbsp; 176 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 135.00 | USD | 2471 | &nbsp;&nbsp;&nbsp;&nbsp; (128480)<br>|
| &nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc. | &nbsp;&nbsp; 171 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 150.00 | USD | 2400 | &nbsp;&nbsp;&nbsp;&nbsp; (12825)<br>|
| &nbsp;&nbsp;&nbsp; Novocure Ltd. | &nbsp;&nbsp; 591 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 15.00 | USD | 764 | &nbsp;&nbsp;&nbsp;&nbsp; (10343)<br>|
| &nbsp;&nbsp;&nbsp; Protagonist Therapeutics, Inc. | &nbsp;&nbsp; 164 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 60.00 | USD | 1089 | &nbsp;&nbsp;&nbsp;&nbsp; (123000)<br>|
| &nbsp;&nbsp;&nbsp; PTC Therapeutics, Inc. | &nbsp;&nbsp; 519 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 65.00 | USD | 3185 | &nbsp;&nbsp;&nbsp;&nbsp; (63577)<br>|
| &nbsp;&nbsp;&nbsp; QIAGEN NV | &nbsp;&nbsp; 322 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 50.00 | USD | 1439 | &nbsp;&nbsp;&nbsp;&nbsp; (6440)<br>|
| &nbsp;&nbsp;&nbsp; Repligen Corp. | &nbsp;&nbsp; 324 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 135.00 | USD | 4331 | &nbsp;&nbsp;&nbsp;&nbsp; (147420)<br>|
| &nbsp;&nbsp;&nbsp; Revolution Medicines, Inc. | &nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 40.00 | USD | 215 | &nbsp;&nbsp;&nbsp;&nbsp; (32660)<br>|
| &nbsp;&nbsp;&nbsp; Revolution Medicines, Inc. | &nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 49.00 | USD | 215 | &nbsp;&nbsp;&nbsp;&nbsp; (5405)<br>|
| &nbsp;&nbsp;&nbsp; Rhythm Pharmaceuticals, Inc. | &nbsp;&nbsp; 277 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 95.00 | USD | 2797 | &nbsp;&nbsp;&nbsp;&nbsp; (238220)<br>|
| &nbsp;&nbsp;&nbsp; Rhythm Pharmaceuticals, Inc. | &nbsp;&nbsp; 428 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 105.00 | USD | 4322 | &nbsp;&nbsp;&nbsp;&nbsp; (113420)<br>|
| &nbsp;&nbsp;&nbsp; Scholar Rock Holding Corp. | &nbsp;&nbsp; 162 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 40.00 | USD | 603 | &nbsp;&nbsp;&nbsp;&nbsp; (21060)<br>|
| &nbsp;&nbsp;&nbsp; Stoke Therapeutics, Inc. | &nbsp;&nbsp; 1174 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 25.00 | USD | 2759 | &nbsp;&nbsp;&nbsp;&nbsp; (117400)<br>|
| &nbsp;&nbsp;&nbsp; Stryker Corp. | &nbsp;&nbsp; 111 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 390.00 | USD | 4103 | &nbsp;&nbsp;&nbsp;&nbsp; (13875)<br>|
| &nbsp;&nbsp;&nbsp; Summit Therapeutics, Inc. | &nbsp;&nbsp; 108 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 21.00 | USD | 223 | &nbsp;&nbsp;&nbsp;&nbsp; (12960)<br>|

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Health Sciences Term Trust (BMEZ)** 

**Exchange-Traded Options Written (continued)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of*<br> *Contracts*<br>| &nbsp;&nbsp; *Expiration*<br> *Date*<br>| *Exercise Price* | *Exercise Price* | &nbsp;&nbsp;&nbsp; *Notional*<br> *Amount (000)* | &nbsp;&nbsp;&nbsp; *Notional*<br> *Amount (000)* | *Value* |
| Call (continued) |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. | &nbsp;&nbsp; 269 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 200.00 | USD | 5462 | &nbsp;&nbsp;&nbsp;&nbsp; $(224615)<br>|
| &nbsp;&nbsp;&nbsp; Twist Bioscience Corp. | &nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 32.50 | USD | 431 | &nbsp;&nbsp;&nbsp;&nbsp; (29070)<br>|
| &nbsp;&nbsp;&nbsp; Ultragenyx Pharmaceutical, Inc. | &nbsp;&nbsp; 101 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 32.50 | USD | 304 | &nbsp;&nbsp;&nbsp;&nbsp; (4798)<br>|
| &nbsp;&nbsp;&nbsp; United Therapeutics Corp. | &nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 410.00 | USD | 461 | &nbsp;&nbsp;&nbsp;&nbsp; (16610)<br>|
| &nbsp;&nbsp;&nbsp; Veeva Systems, Inc., Class A | &nbsp;&nbsp; 442 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 280.00 | USD | 13168 | &nbsp;&nbsp;&nbsp;&nbsp; (928200)<br>|
| &nbsp;&nbsp;&nbsp; Waters Corp. | &nbsp;&nbsp; 108 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 310.00 | USD | 3238 | &nbsp;&nbsp;&nbsp;&nbsp; (43470)<br>|
| &nbsp;&nbsp;&nbsp; WaVe Life Sciences Ltd. | &nbsp;&nbsp; 447 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 8.50 | USD | 327 | &nbsp;&nbsp;&nbsp;&nbsp; (8573)<br>|
| &nbsp;&nbsp;&nbsp; WaVe Life Sciences Ltd. | &nbsp;&nbsp; 127 | &nbsp;&nbsp;&nbsp;&nbsp; 10/17/25 | USD | 7.50 | USD | 93 | &nbsp;&nbsp;&nbsp;&nbsp; (8890)<br>|
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | &nbsp;&nbsp; 257 | &nbsp;&nbsp;&nbsp;&nbsp; 10/24/25 | USD | 138.00 | USD | 3442 | &nbsp;&nbsp;&nbsp;&nbsp; (53199)<br>|
| &nbsp;&nbsp;&nbsp; Biogen, Inc. | &nbsp;&nbsp; 47 | &nbsp;&nbsp;&nbsp;&nbsp; 10/24/25 | USD | 149.00 | USD | 658 | &nbsp;&nbsp;&nbsp;&nbsp; (9165)<br>|
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp. | &nbsp;&nbsp; 161 | &nbsp;&nbsp;&nbsp;&nbsp; 10/24/25 | USD | 106.00 | USD | 1572 | &nbsp;&nbsp;&nbsp;&nbsp; (11673)<br>|
| &nbsp;&nbsp;&nbsp; Medtronic PLC | &nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 10/24/25 | USD | 96.00 | USD | 352 | &nbsp;&nbsp;&nbsp;&nbsp; (6142)<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Industries Ltd., ADR | &nbsp;&nbsp; 848 | &nbsp;&nbsp;&nbsp;&nbsp; 10/24/25 | USD | 20.50 | USD | 1713 | &nbsp;&nbsp;&nbsp;&nbsp; (65296)<br>|
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | &nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp; 10/31/25 | USD | 134.00 | USD | 1514 | &nbsp;&nbsp;&nbsp;&nbsp; (44353)<br>|
| &nbsp;&nbsp;&nbsp; Exact Sciences Corp. | &nbsp;&nbsp; 524 | &nbsp;&nbsp;&nbsp;&nbsp; 10/31/25 | USD | 54.00 | USD | 2867 | &nbsp;&nbsp;&nbsp;&nbsp; (180780)<br>|
| &nbsp;&nbsp;&nbsp; McKesson Corp. | &nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp; 10/31/25 | USD | 710.00 | USD | 3785 | &nbsp;&nbsp;&nbsp;&nbsp; (336875)<br>|
| &nbsp;&nbsp;&nbsp; Tempus AI, Inc., Class A | &nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp; 10/31/25 | USD | 90.00 | USD | 759 | &nbsp;&nbsp;&nbsp;&nbsp; (32900)<br>|
| &nbsp;&nbsp;&nbsp; Viking Therapeutics, Inc. | &nbsp;&nbsp; 94 | &nbsp;&nbsp;&nbsp;&nbsp; 10/31/25 | USD | 30.00 | USD | 247 | &nbsp;&nbsp;&nbsp;&nbsp; (12690)<br>|
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc. | &nbsp;&nbsp; 124 | &nbsp;&nbsp;&nbsp;&nbsp; 11/04/25 | USD | 162.00 | USD | 1940 | &nbsp;&nbsp;&nbsp;&nbsp; (78879)<br>|
| &nbsp;&nbsp;&nbsp; Twist Bioscience Corp. | &nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp; 11/06/25 | USD | 29.47 | USD | 431 | &nbsp;&nbsp;&nbsp;&nbsp; (34039)<br>|
| &nbsp;&nbsp;&nbsp; Axsome Therapeutics, Inc. | &nbsp;&nbsp; 81 | &nbsp;&nbsp;&nbsp;&nbsp; 11/07/25 | USD | 120.00 | USD | 984 | &nbsp;&nbsp;&nbsp;&nbsp; (60570)<br>|
| &nbsp;&nbsp;&nbsp; Bridgebio Pharma, Inc. | &nbsp;&nbsp; 390 | &nbsp;&nbsp;&nbsp;&nbsp; 11/07/25 | USD | 55.00 | USD | 2026 | &nbsp;&nbsp;&nbsp;&nbsp; (133053)<br>|
| &nbsp;&nbsp;&nbsp; Dexcom, Inc. | &nbsp;&nbsp; 834 | &nbsp;&nbsp;&nbsp;&nbsp; 11/07/25 | USD | 77.00 | USD | 5612 | &nbsp;&nbsp;&nbsp;&nbsp; (133440)<br>|
| &nbsp;&nbsp;&nbsp; Disc Medicine, Inc. | &nbsp;&nbsp; 106 | &nbsp;&nbsp;&nbsp;&nbsp; 11/07/25 | USD | 65.00 | USD | 700 | &nbsp;&nbsp;&nbsp;&nbsp; (56732)<br>|
| &nbsp;&nbsp;&nbsp; Incyte Corp. | &nbsp;&nbsp; 205 | &nbsp;&nbsp;&nbsp;&nbsp; 11/07/25 | USD | 86.25 | USD | 1739 | &nbsp;&nbsp;&nbsp;&nbsp; (72204)<br>|
| &nbsp;&nbsp;&nbsp; Medtronic PLC | &nbsp;&nbsp; 488 | &nbsp;&nbsp;&nbsp;&nbsp; 11/07/25 | USD | 95.00 | USD | 4648 | &nbsp;&nbsp;&nbsp;&nbsp; (137616)<br>|
| &nbsp;&nbsp;&nbsp; Protagonist Therapeutics, Inc. | &nbsp;&nbsp; 340 | &nbsp;&nbsp;&nbsp;&nbsp; 11/07/25 | USD | 65.86 | USD | 2259 | &nbsp;&nbsp;&nbsp;&nbsp; (192645)<br>|
| &nbsp;&nbsp;&nbsp; QIAGEN NV | &nbsp;&nbsp; 321 | &nbsp;&nbsp;&nbsp;&nbsp; 11/07/25 | USD | 46.93 | USD | 1434 | &nbsp;&nbsp;&nbsp;&nbsp; (41157)<br>|
| &nbsp;&nbsp;&nbsp; Repligen Corp. | &nbsp;&nbsp; 130 | &nbsp;&nbsp;&nbsp;&nbsp; 11/07/25 | USD | 130.00 | USD | 1738 | &nbsp;&nbsp;&nbsp;&nbsp; (137252)<br>|
| &nbsp;&nbsp;&nbsp; Tempus AI, Inc., Class A | &nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp; 11/07/25 | USD | 91.00 | USD | 767 | &nbsp;&nbsp;&nbsp;&nbsp; (46550)<br>|
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories, Inc. | &nbsp;&nbsp; 139 | &nbsp;&nbsp;&nbsp;&nbsp; 11/10/25 | USD | 643.00 | USD | 8881 | &nbsp;&nbsp;&nbsp;&nbsp; (421673)<br>|
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp. | &nbsp;&nbsp; 473 | &nbsp;&nbsp;&nbsp;&nbsp; 11/21/25 | USD | 80.00 | USD | 3679 | &nbsp;&nbsp;&nbsp;&nbsp; (143082)<br>|
| &nbsp;&nbsp;&nbsp; Guardant Health, Inc. | &nbsp;&nbsp; 595 | &nbsp;&nbsp;&nbsp;&nbsp; 11/21/25 | USD | 60.00 | USD | 3718 | &nbsp;&nbsp;&nbsp;&nbsp; (425425)<br>|
| &nbsp;&nbsp;&nbsp; Labcorp Holdings, Inc. | &nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp; 11/21/25 | USD | 280.00 | USD | 1866 | &nbsp;&nbsp;&nbsp;&nbsp; (98150)<br>|
|  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(7644170)<br>|

---

**OTC Options Written** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Counterparty* | &nbsp;&nbsp; *Number of* <br>*Contracts*<br>| &nbsp;&nbsp; *Expiration* <br>*Date*<br>| *Exercise Price* | *Exercise Price* | *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* |
| Call  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Cencora, Inc. | Barclays Bank PLC | 12000 | 10/01/25 | USD | 303.98 | &nbsp;&nbsp; USD | 3750 | &nbsp;&nbsp; $(103551)<br>|
| &nbsp;&nbsp;&nbsp; Akeso, Inc. | JPMorgan Chase Bank N.A. | 73000 | 10/03/25 | HKD | 177.12 | &nbsp;&nbsp; HKD | 10321 | &nbsp;&nbsp; (1)<br>|
| &nbsp;&nbsp;&nbsp; M3, Inc. | Bank of America N.A. | 175800 | 10/03/25 | JPY | 2392.52 | &nbsp;&nbsp; JPY | 420867 | &nbsp;&nbsp; (48163)<br>|
| &nbsp;&nbsp;&nbsp; Roche Holding AG | Barclays Bank PLC | 4000 | 10/03/25 | CHF | 247.27 | &nbsp;&nbsp; CHF | 1060 | &nbsp;&nbsp; (63627)<br>|
| &nbsp;&nbsp;&nbsp; Abbisko Cayman Ltd. | Citibank N.A. | 250000 | 10/08/25 | HKD | 15.43 | &nbsp;&nbsp; HKD | 4498 | &nbsp;&nbsp; (98724)<br>|
| &nbsp;&nbsp;&nbsp; Akeso, Inc. | UBS AG | 74000 | 10/08/25 | HKD | 196.08 | &nbsp;&nbsp; HKD | 10462 | &nbsp;&nbsp; (9)<br>|
| &nbsp;&nbsp;&nbsp; Sartorius AG, Preference Shares | Bank of America N.A. | 11900 | 10/09/25 | EUR | 202.50 | &nbsp;&nbsp; EUR | 2370 | &nbsp;&nbsp; (63990)<br>|
| &nbsp;&nbsp;&nbsp; Zealand Pharma A/S | Bank of America N.A. | 11300 | 10/09/25 | DKK | 354.79 | &nbsp;&nbsp; DKK | 5298 | &nbsp;&nbsp; (189202)<br>|
| &nbsp;&nbsp;&nbsp; Abbisko Cayman Ltd. | JPMorgan Chase Bank N.A. | 250000 | 10/14/25 | HKD | 19.48 | &nbsp;&nbsp; HKD | 4498 | &nbsp;&nbsp; (16151)<br>|
| &nbsp;&nbsp;&nbsp; Akeso, Inc. | BNP Paribas SA | 61000 | 10/14/25 | HKD | 170.85 | &nbsp;&nbsp; HKD | 8624 | &nbsp;&nbsp; (4541)<br>|
| &nbsp;&nbsp;&nbsp; Genmab A/S | Goldman Sachs International | 19000 | 10/14/25 | DKK | 1832.25 | &nbsp;&nbsp; DKK | 37274 | &nbsp;&nbsp; (341605)<br>|
| &nbsp;&nbsp;&nbsp; Abbisko Cayman Ltd. | Bank of America N.A. | 642000 | 10/16/25 | HKD | 18.93 | &nbsp;&nbsp; HKD | 11550 | &nbsp;&nbsp; (62784)<br>|
| &nbsp;&nbsp;&nbsp; Eisai Co. Ltd. | BNP Paribas SA | 30100 | 10/16/25 | JPY | 4948.46 | &nbsp;&nbsp; JPY | 150379 | &nbsp;&nbsp; (26360)<br>|
| &nbsp;&nbsp;&nbsp; Galderma Group AG | Goldman Sachs International | 27200 | 10/16/25 | CHF | 141.68 | &nbsp;&nbsp; CHF | 3828 | &nbsp;&nbsp; (60439)<br>|
| &nbsp;&nbsp;&nbsp; Wuxi Biologics Cayman, Inc. | JPMorgan Chase Bank N.A. | 500000 | 10/16/25 | HKD | 38.41 | &nbsp;&nbsp; HKD | 20546 | &nbsp;&nbsp; (201982)<br>|
| &nbsp;&nbsp;&nbsp; Abbisko Cayman Ltd. | JPMorgan Chase Bank N.A. | 250000 | 10/21/25 | HKD | 18.98 | &nbsp;&nbsp; HKD | 4498 | &nbsp;&nbsp; (28391)<br>|
| &nbsp;&nbsp;&nbsp; UCB SA | Bank of America N.A. | 9800 | 10/21/25 | EUR | 215.37 | &nbsp;&nbsp; EUR | 2330 | &nbsp;&nbsp; (246339)<br>|
| &nbsp;&nbsp;&nbsp; Galderma Group AG | UBS AG | 15600 | 10/22/25 | CHF | 148.09 | &nbsp;&nbsp; CHF | 2196 | &nbsp;&nbsp; (25659)<br>|
| &nbsp;&nbsp;&nbsp; Wuxi Biologics Cayman, Inc. | Citibank N.A. | 500000 | 10/22/25 | HKD | 42.11 | &nbsp;&nbsp; HKD | 20546 | &nbsp;&nbsp; (102320)<br>|

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Health Sciences Term Trust (BMEZ)** 

**OTC Options Written (continued)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Counterparty* | &nbsp;&nbsp; *Number of*<br> *Contracts*<br>| &nbsp;&nbsp; *Expiration*<br> *Date*<br>| *Exercise Price* | *Exercise Price* | *Notional*<br> *Amount (000)* | *Notional*<br> *Amount (000)* | *Value* |
| Call (continued) |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Abbisko Cayman Ltd. | Citibank N.A. | 643000 | 10/28/25 | HKD | 19.67 | &nbsp;&nbsp; HKD | 11568 | &nbsp;&nbsp; $(66061)<br>|
| &nbsp;&nbsp;&nbsp; Abbisko Cayman Ltd. | Citibank N.A. | 14000 | 11/04/25 | HKD | 20.13 | &nbsp;&nbsp; HKD | 252 | &nbsp;&nbsp; (1440)<br>|
| &nbsp;&nbsp;&nbsp; Wuxi Biologics Cayman, Inc. | Citibank N.A. | 727000 | 11/05/25 | HKD | 41.60 | &nbsp;&nbsp; HKD | 29874 | &nbsp;&nbsp; (226643)<br>|
| &nbsp;&nbsp;&nbsp; Beam Therapeutics, Inc. | Morgan Stanley & Co. International PLC | 18200 | 11/06/25 | USD | 26.29 | &nbsp;&nbsp; USD | 442 | &nbsp;&nbsp; (27687)<br>|
| &nbsp;&nbsp;&nbsp; Penumbra, Inc. | Morgan Stanley & Co. International PLC | 13800 | 11/06/25 | USD | 261.88 | &nbsp;&nbsp; USD | 3496 | &nbsp;&nbsp; (147830)<br>|
| &nbsp;&nbsp;&nbsp; Ascendis Pharma A/S, ADR | Barclays Bank PLC | 10700 | 11/07/25 | USD | 204.97 | &nbsp;&nbsp; USD | 2127 | &nbsp;&nbsp; (96061)<br>|
| &nbsp;&nbsp;&nbsp; Bio-Techne Corp. | BNP Paribas SA | 45300 | 11/07/25 | USD | 55.83 | &nbsp;&nbsp; USD | 2520 | &nbsp;&nbsp; (146172)<br>|
| &nbsp;&nbsp;&nbsp; Daiichi Sankyo Co. Ltd. | JPMorgan Chase Bank N.A. | 46200 | 11/07/25 | JPY | 3577.58 | &nbsp;&nbsp; JPY | 153728 | &nbsp;&nbsp; (14882)<br>|
| &nbsp;&nbsp;&nbsp; Lonza Group AG, Registered Shares | Barclays Bank PLC | 5700 | 11/07/25 | CHF | 542.68 | &nbsp;&nbsp; CHF | 3034 | &nbsp;&nbsp; (66369)<br>|
| &nbsp;&nbsp;&nbsp; Merus NV | Morgan Stanley & Co. International PLC | 8000 | 11/07/25 | USD | 69.28 | &nbsp;&nbsp; USD | 753 | &nbsp;&nbsp; (201577)<br>|
| &nbsp;&nbsp;&nbsp; Natera, Inc. | Morgan Stanley & Co. International PLC | 12800 | 11/07/25 | USD | 179.01 | &nbsp;&nbsp; USD | 2060 | &nbsp;&nbsp; (56380)<br>|
| &nbsp;&nbsp;&nbsp; Nuvalent, Inc., Class A | Morgan Stanley & Co. International PLC | 51100 | 11/07/25 | USD | 80.43 | &nbsp;&nbsp; USD | 4419 | &nbsp;&nbsp; (601458)<br>|
| &nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. | Barclays Bank PLC | 29400 | 11/07/25 | USD | 190.24 | &nbsp;&nbsp; USD | 5603 | &nbsp;&nbsp; (179702)<br>|
| &nbsp;&nbsp;&nbsp; West Pharmaceutical Services, Inc. | Barclays Bank PLC | 35700 | 11/07/25 | USD | 260.59 | &nbsp;&nbsp; USD | 9365 | &nbsp;&nbsp; (582599)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; $(4098699)<br>|

---

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Trust has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Trust's financial instruments categorized in the fair value hierarchy. The breakdown of the Trust's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Biotechnology | &nbsp;&nbsp; $293974759 | &nbsp;&nbsp;&nbsp;&nbsp; $38183387 | &nbsp;&nbsp;&nbsp;&nbsp; $10341967 | &nbsp;&nbsp;&nbsp;&nbsp; $342500113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Equipment & Supplies | &nbsp;&nbsp; 163332322 | &nbsp;&nbsp;&nbsp;&nbsp; 15800033 | &nbsp;&nbsp;&nbsp;&nbsp; 973637 | &nbsp;&nbsp;&nbsp;&nbsp; 180105992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp; 79816781 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 79816781 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Technology | &nbsp;&nbsp; 34838179 | &nbsp;&nbsp;&nbsp;&nbsp; 7491947 | &nbsp;&nbsp;&nbsp;&nbsp; 27593 | &nbsp;&nbsp;&nbsp;&nbsp; 42357719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Life Sciences Tools & Services | &nbsp;&nbsp; 91507631 | &nbsp;&nbsp;&nbsp;&nbsp; 35138688 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 126646319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pharmaceuticals | &nbsp;&nbsp; 52703362 | &nbsp;&nbsp;&nbsp;&nbsp; 36006895 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 88710257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Interests | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2096177 | &nbsp;&nbsp;&nbsp;&nbsp; 2096177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7318843 | &nbsp;&nbsp;&nbsp;&nbsp; 123817136 | &nbsp;&nbsp;&nbsp;&nbsp; 131135979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rights | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 404521 | &nbsp;&nbsp;&nbsp;&nbsp; 404521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants | &nbsp;&nbsp; 13921 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 28856483 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 28856483 |
|  | &nbsp;&nbsp; $745043438 | &nbsp;&nbsp;&nbsp;&nbsp; $139939793 | &nbsp;&nbsp;&nbsp;&nbsp; $137661031 | &nbsp;&nbsp;&nbsp;&nbsp; $1022644262 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Health Sciences Term Trust (BMEZ)** 

**Fair Value Hierarchy as of Period End (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Derivative Financial Instruments<sup>(a)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; $(6183965)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(5558904)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(11742869)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are options written. Options written are shown at value.

A reconciliation of Level 3 financial instruments is presented when the Trust had a significant amount of Level 3 investments and derivative financial instruments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Common* <br>*Stocks*<br>| *Corporate* <br>*Bonds*<br>| *Other* <br>*Interests*<br>| *Preferred* <br>*Stocks* <br>| *Rights* | *Warrants* | *Total*  |
| **Assets** |  |  |  |  |  |  |  |
| Opening balance, as of December 31, 2024 | &nbsp;&nbsp; $9980354 | $2185644 | $3207232 | $118719968 | $346386 | $217359 | $134656943 |
| Transfers into Level 3 | &nbsp;&nbsp; — |  |  |  |  |  |  |
| Transfers out of Level 3 | &nbsp;&nbsp; — |  |  |  |  |  |  |
| Accrued discounts/premiums | &nbsp;&nbsp; — |  |  |  |  |  |  |
| Net realized gain (loss) | &nbsp;&nbsp; — |  |  |  |  |  |  |
| Net change in unrealized appreciation (depreciation)<sup>(a)</sup> | &nbsp;&nbsp; (31648921)<br>| (319194)<br>| (1111055)<br>| 29652065 | 34741 | (217359)<br>| (3609723)<br>|
| Purchases | &nbsp;&nbsp; 33011764 |  |  | 5770106 | 23394 |  | 38805264 |
| Sales | &nbsp;&nbsp; — | (1866450)<br>|  | (30325003)<br>|  |  | (32191453)<br>|
| Closing balance, as of September 30, 2025 | &nbsp;&nbsp; $11343197 | $— | $2096177 | $123817136 | $404521 |  | $137661031 |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) on investments still held at <br> September 30, 2025<sup>(a)</sup><br>| &nbsp;&nbsp; $(31648921)<br>| $— | $(1111055)<br>| $1055612 | $34741 |  | $(31669623)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at September 30, 2025 is generally due to investments no longer held or categorized as Level 3 at period end. 

The following table summarizes the valuation approaches used and unobservable inputs utilized by the Valuation Committee to determine the value of certain of the Trust's Level 3 financial instruments as of period end.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | *Value* | &nbsp;&nbsp;&nbsp; *Valuation* <br>*Approach*<br>| &nbsp;&nbsp;&nbsp; *Unobservable* <br>*Inputs*<br>| &nbsp;&nbsp;&nbsp; *Range of* <br>*Unobservable* <br>*Inputs* <br>*Utilized*<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; *Weighted* <br>*Average of* <br>*Unobservable* <br>*Inputs Based* <br>*on Fair Value* <br>|
| **Assets** |  |  |  |  |  |
| Preferred Stocks | &nbsp;&nbsp; $123817136 | Market | Revenue Multiple | 0.94x - 3.11x | 1.43x |
|  |  |  | Volatility | 60%-90% | 79% |
|  |  |  | Time to Exit | 1.0 -3.0 years | 2.7 years |
|  |  |  | Market Adjustment Multiple | 0.60x -1.15x | 1.08x |
| Common Stocks | &nbsp;&nbsp; 11343197 | Market | Revenue Multiple | 3.11x - 8.86x | 3.46x |
|  |  |  | Volatility | 60% -90% | 77% |
|  |  |  | Time to Exit | 1.0 - 4.0 years | 2.9 years |
|  |  |  | Market Adjustment Multiple | 0.55x - 1.60x | 1.01x |
| Other Interests | &nbsp;&nbsp; 2096177 | Income | Discount Rate | 5% -5% | 5% |
| Rights | &nbsp;&nbsp; 404521 | Income | Discount Rate | 4% -5% | 4% |
|  | &nbsp;&nbsp; $137661031 |  |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> A significant change in unobservable input could result in a correlated or inverse change in value.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Currency Abbreviation**  | **Currency Abbreviation**  |
| CHF | Swiss Franc |
| DKK | Danish Krone |
| EUR | Euro |

---

---

| | |
|:---|:---|
| **Currency Abbreviation (continued)** | **Currency Abbreviation (continued)** |
| HKD | Hong Kong Dollar |
| JPY | Japanese Yen |
| USD | United States Dollar |

---

------

Schedule of Investments (unaudited)(continued)

September 30, 2025

**BlackRock Health Sciences Term Trust (BMEZ)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| ADR | American Depositary Receipt |
| CVR | Contingent Value Right |

---

Schedule of Investments

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock Health Sciences Term Trust

- **b. Investment Company Act file number:** 811-23466

- **c. CIK number of Registrant:** 0001785971

- **d. LEI of Registrant:** 549300FGMK4EGHSK8N86

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

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** BlackRock Health Sciences Term Trust

- **c. LEI of Series:** 549300FGMK4EGHSK8N86

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1039973857.98

**Total Liabilities:** $36408662.75

**Net Assets:** $1003565195.23

**Cash Not Reported:** $318124.86

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.20%                | 5.41%                | 2.64%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $12273139.66             | $-8971475.29                               |
| Month 2  | $-390190.86              | $61389065.64                               |
| Month 3  | $148719.89               | $26137803.70                               |

**Designated Index Information**

- **Index Name:** MSCI Custom ACWI SMID Growth/Health Care Call Overwrite Index

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Ionis Pharmaceuticals Inc                    | Ionis Pharmaceuticals Inc                               | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |     59102 | NS      | $3866452.84   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                       | OCT25 9926 HK C @ 196.08                                | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DE               |  | US        |    -74000 | NC      | $-8.56        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Olema Pharmaceuticals Inc                    | Olema Pharmaceuticals Inc                               | CUSIP: 68062P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57725 | NS      | $565127.75    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TScan Therapeutics Inc                       | TScan Therapeutics Inc                                  | CUSIP: 89854M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    609800 | NS      | $1109836.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | WATERS CORP                                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -108 | NC      | $-43470.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Charles River Laboratories International Inc | Charles River Laboratories International Inc            | CUSIP: 159864107<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | EC               | CORP              | US        |     32635 | NS      | $5106072.10   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO LLC                      | TWST US FLEX                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |      -153 | NC      | $-34038.83    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Galderma Group AG                            | Galderma Group AG                                       | CUSIP: 000000000<br>LEI: 89450001OK6O8ELQ4584 | Long             | EC               | CORP              | CH        |    112660 | NS      | $19918314.04  | 1.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | WAVE LIFE SCIENCES LTD                                  | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | SG        |      -127 | NC      | $-8890.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| GENESIS THERAPEUTICS INC                     | GENESIS THERAPEUTICS INC                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1370506 | NS      | $7592603.24   | 0.76%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Options Clearing Corp.                       | BRUKER CORP                                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -400 | NC      | $-6000.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | ABBOTT LABORATORIES                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -257 | NC      | $-53199.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc                 | Protagonist Therapeutics Inc                            | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    132647 | NS      | $8811740.21   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals Inc                   | Rhythm Pharmaceuticals Inc                              | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |    185663 | NS      | $18750106.37  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc                  | Alnylam Pharmaceuticals Inc                             | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |    118016 | NS      | $53815296.00  | 5.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BioNTech SE                                  | BioNTech SE                                             | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |     18918 | NS      | $1865693.16   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                            | OCT25 COR US C @ 303.982                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DE               |  | US        |    -12000 | NC      | $-103550.64   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | PTC THERAPEUTICS INC                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -519 | NC      | $-63577.50    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | MEDTRONIC PLC                                           | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | IE        |      -488 | NC      | $-137616.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| BridgeBio Oncology Therapeutics Inc          | BridgeBio Oncology Therapeutics Inc                     | CUSIP: 107924102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    544465 | NS      | $6304904.70   | 0.63%             |  |  |  | No            |                  1 | On Loan: —       |
| Johnson & Johnson                            | Johnson & Johnson                                       | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     86520 | NS      | $16042538.40  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                            | NOV25 ASND US C @ 204.97                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DE               |  | US        |    -10700 | NC      | $-96061.39    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | MEDTRONIC PLC                                           | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | IE        |      -103 | NC      | $-18643.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Exact Sciences Corp                          | Exact Sciences Corp                                     | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |    263762 | NS      | $14430419.02  | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | REVOLUTION MEDICINES INC                                | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -46 | NC      | $-32660.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CITIBANK NA                                  | OCT25 2256 HK C @ 15.433                                | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | US        |   -250000 | NC      | $-98723.97    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL           | NOV25 BEAM US C @ 26.291                                | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DE               |  | US        |    -18200 | NC      | $-27687.11    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Repligen Corp                                | Repligen Corp                                           | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |    119498 | NS      | $15973297.66  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | AXSOME THERAPEUTICS INC                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -81 | NC      | $-98010.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA MIRATI THERAPEU                       | CONTRA MIRATI THERAPEU                                  | CUSIP: 604CVR027<br>LEI: 529900GYRW59IDQV6N54 | Long             |  | CORP              | US        |    180175 | NS      | $140536.50    | 0.01%             |  |  |  | No            |                  3 | On Loan: —       |
| BNP PARIBAS SA                               | OCT25 4523 JP C @ 4948.4599                             | CUSIP: 000000000<br>LEI: QHSFEYI7HUOXXZ413E03 | N/A              | DE               |  | US        |    -30100 | NC      | $-26359.64    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LARONDE INC                                  | LARONDE INC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    482077 | NS      | $11714471.10  | 1.17%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CONTRA FREQUENCY THERA                       | CONTRA FREQUENCY THERA                                  | CUSIP: 358CVR025<br>LEI: N/A                  | Long             |  | CORP              | US        |    231775 | NS      | $2.32         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Options Clearing Corp.                       | EXELIXIS INC                                            | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -867 | NC      | $-110542.50   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CITIBANK NA                                  | NOV25 2269 HK C @ 41.6                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | US        |   -727000 | NC      | $-226642.91   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MBX Biosciences Inc                          | MBX Biosciences Inc                                     | CUSIP: 55287L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    164091 | NS      | $2871592.50   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | INSPIRE MEDICAL SYSTEMS INC                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -150 | NC      | $-8250.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | BOSTON SCIENTIFIC CORP                                  | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -161 | NC      | $-11672.50    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| EXO IMAGING INC                              | EXO IMAGING INC                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22576 | NS      | $8127.35      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Merus NV                                     | Merus NV                                                | CUSIP: 000000000<br>LEI: 549300W8GPUWU8QNU293 | Long             | EC               | CORP              | NL        |     21187 | NS      | $1994756.05   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | VIKING THERAPEUTICS INC                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -94 | NC      | $-12690.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | BIONTECH SE                                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | DE        |       -71 | NC      | $-8165.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA BLUEPRINT MEDIC                       | CONTRA BLUEPRINT MEDIC                                  | CUSIP: 096CVR048<br>LEI: 5299004CC60O9T5HVM83 | Long             |  | CORP              | US        |     36582 | NS      | $35484.54     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Akeso Inc                                    | Akeso Inc                                               | CUSIP: 000000000<br>LEI: 254900ECWYGR3QW5GF30 | Long             | EC               | CORP              | KY        |    548000 | NS      | $9956111.07   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | TEVA PHARMACEUTICAL INDUSTRIES                          | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | IL        |      -848 | NC      | $-76744.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| JP MORGAN CHASE BANK                         | OCT25 2256 HK C @ 18.9756                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |   -250000 | NC      | $-28390.70    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SUSQUEHANNA FINANCIAL GROUP LLLP             | BBIO.FLEX                                               | CUSIP: 000000000<br>LEI: 549300E8QX0ZMRDC2M81 | N/A              | DE               |  | US        |      -390 | NC      | $-133053.18   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Sonova Holding AG                            | Sonova Holding AG                                       | CUSIP: 000000000<br>LEI: 5299004A0QNX7FBNHS61 | Long             | EC               | CORP              | CH        |     57600 | NS      | $15800032.81  | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                            | NOV25 LONN SW C @ 542.679                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DE               |  | US        |     -5700 | NC      | $-66368.82    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | DEXCOM INC                                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -834 | NC      | $-133440.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Dyne Therapeutics Inc                        | Dyne Therapeutics Inc                                   | CUSIP: 26818M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116674 | NS      | $1475926.10   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                               | OCT25 9926 HK C @ 170.8528                              | CUSIP: 000000000<br>LEI: QHSFEYI7HUOXXZ413E03 | N/A              | DE               |  | US        |    -61000 | NC      | $-4541.17     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                           | OCT25 2413 JP C @ 2392.52                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |   -175800 | NC      | $-48162.72    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Nyxoah SA                                    | Nyxoah SA                                               | CUSIP: 000000000<br>LEI: 5493002O1ESKZ18OXR80 | Long             | EC               | CORP              | BE        |    254299 | NS      | $1169775.40   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Upstream Bio Inc                             | Upstream Bio Inc                                        | CUSIP: 91678A107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55965 | NS      | $1052701.65   | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Agilent Technologies Inc                     | Agilent Technologies Inc                                | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |     40785 | NS      | $5234754.75   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | KYMERA THERAPEUTICS INC                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -57 | NC      | $-24795.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CELLARITY INC                                | CELLARITY INC                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2430833 | NS      | $4983207.65   | 0.50%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BioMarin Pharmaceutical Inc                  | BioMarin Pharmaceutical Inc                             | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |     84744 | NS      | $4589735.04   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| NUCLEIX LTD                                  | NUCLEIX LTD                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2379480 | NS      | $1451482.80   | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BRIGHT PEAK THERAPEUTICS INC                 | BRIGHT PEAK THERAPEUTICS INC                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3191830 | NS      | $3287584.90   | 0.33%             |  |  |  | Yes           |                  3 | On Loan: No      |
| SWIFT HEALTH SYSTEMS INC                     | SWIFT HEALTH SYSTEMS INC                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2078 | NS      | $4634.03      | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KARTOS THERAPEUTICS INC                      | KARTOS THERAPEUTICS INC                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    366962 | NS      | $2084344.16   | 0.21%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Options Clearing Corp.                       | EDWARDS LIFESCIENCES CORP                               | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -473 | NC      | $-143082.50   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | ALNYLAM PHARMACEUTICALS INC                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -223 | NC      | $-71917.50    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Beam Therapeutics Inc                        | Beam Therapeutics Inc                                   | CUSIP: 07373V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     95917 | NS      | $2327905.59   | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| MORGAN STANLEY & CO. INTERNATIONAL           | NOV25 NUVL US C @ 80.433                                | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DE               |  | US        |    -51100 | NC      | $-601457.73   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| NUCLEIX LTD                                  | NUCLEIX LTD                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1300 | NS      | $965510.00    | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| HeartFlow Inc                                | HeartFlow Inc                                           | CUSIP: 42238D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4301 | NS      | $144771.66    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MIRVIE SERIES C                              | MIRVIE SERIES C                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    724806 | NS      | $1623565.44   | 0.16%             |  |  |  | No            |                  3 | On Loan: No      |
| Options Clearing Corp.                       | GUARDANT HEALTH INC                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -595 | NC      | $-425425.00   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | INCYTE CORP                                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -126 | NC      | $-9135.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL           | NOV25 PEN US C @ 261.875                                | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DE               |  | US        |    -13800 | NC      | $-147829.88   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Bruker Corp                                  | Bruker Corp                                             | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |    196940 | NS      | $6398580.60   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Novocure Ltd                                 | Novocure Ltd                                            | CUSIP: 000000000<br>LEI: 213800YPP55UMHWA4826 | Long             | EC               | CORP              | JE        |    155581 | NS      | $2010106.52   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                | Medtronic PLC                                           | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    165394 | NS      | $15752124.56  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP PARIBAS SA                               | NOV25 TECH US C @ 55.825                                | CUSIP: 000000000<br>LEI: QHSFEYI7HUOXXZ413E03 | N/A              | DE               |  | US        |    -45300 | NC      | $-146171.78   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | RHYTHM PHARMACEUTICALS INC                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -277 | NC      | $-238220.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Monte Rosa Therapeutics Inc                  | Monte Rosa Therapeutics Inc                             | CUSIP: 61225M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    155206 | NS      | $1150076.46   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Zealand Pharma A/S                           | Zealand Pharma A/S                                      | CUSIP: 000000000<br>LEI: 549300ITBB1ULBL4CZ12 | Long             | EC               | CORP              | DK        |     29510 | NS      | $2176215.92   | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Genmab A/S                                   | Genmab A/S                                              | CUSIP: 000000000<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |     50248 | NS      | $15503932.20  | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | INSULET CORP                                            | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -223 | NC      | $-78050.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                             | Roche Holding AG                                        | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     10284 | NS      | $3424401.98   | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Ascendis Pharma A/S                          | Ascendis Pharma A/S                                     | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |     20428 | NS      | $4061290.68   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL           | NOV25 MRUS US C @ 69.278                                | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DE               |  | US        |     -8000 | NC      | $-201576.96   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Halozyme Therapeutics Inc                    | Halozyme Therapeutics Inc                               | CUSIP: 40637H109<br>LEI: 529900242I3SV9AGM753 | Long             | EC               | CORP              | US        |     58978 | NS      | $4325446.52   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp                       | Boston Scientific Corp                                  | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     68525 | NS      | $6690095.75   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                                   | Biogen Inc                                              | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |     37120 | NS      | $5199769.60   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Gerresheimer AG                              | Gerresheimer AG                                         | CUSIP: 000000000<br>LEI: 5299006GD4UWSYZOKC28 | Long             | EC               | CORP              | DE        |     29709 | NS      | $1237625.06   | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | MODERNA INC                                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -172 | NC      | $-28380.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc                  | Inspire Medical Systems Inc                             | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |     39579 | NS      | $2936761.80   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA NA                           | OCT25 SRT3 GY C @ 202.498                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |    -11900 | NC      | $-63990.48    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CONTRA ABIOMED INC                           | CONTRA ABIOMED INC                                      | CUSIP: 003CVR016<br>LEI: N/A                  | Long             |  | CORP              | US        |     98636 | NS      | $221931.00    | 0.02%             |  |  |  | No            |                  3 | On Loan: No      |
| Options Clearing Corp.                       | EDWARDS LIFESCIENCES CORP                               | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -350 | NC      | $-63000.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Daiichi Sankyo Co Ltd                        | Daiichi Sankyo Co Ltd                                   | CUSIP: 000000000<br>LEI: 353800XGIU2IHQGC9504 | Long             | EC               | CORP              | JP        |    121700 | NS      | $2738273.61   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| United Therapeutics Corp                     | United Therapeutics Corp                                | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      3060 | NS      | $1282782.60   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Funds III                          | BlackRock Cash Funds: Institutional, SL Agency Shares   | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |   5705727 | NS      | $5708580.27   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | REPLIGEN CORP                                           | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -324 | NC      | $-147420.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | INSMED INC                                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -607 | NC      | $-174512.50   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Sartorius AG                                 | Sartorius AG                                            | CUSIP: 000000000<br>LEI: 529900EQV2DY4FOAMU38 | Long             | EP               | CORP              | DE        |     31307 | NS      | $7318842.93   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Nuvation Bio Inc                             | Nuvation Bio Inc                                        | CUSIP: 67080N119<br>LEI: N/A                  | N/A              | DE               |  | US        |     68880 | NS      | $13920.65     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | ARCELLX INC                                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -101 | NC      | $-82315.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ABCURO SERIES C EQUITY                       | ABCURO SERIES C EQUITY                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    241900 | NS      | $1451400.00   | 0.14%             |  |  |  | No            |                  3 | On Loan: No      |
| Insulet Corp                                 | Insulet Corp                                            | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |     58827 | NS      | $18161659.71  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Therapeutics Inc                      | Viking Therapeutics Inc                                 | CUSIP: 92686J106<br>LEI: 529900IVC72YPFA25M37 | Long             | EC               | CORP              | US        |     24596 | NS      | $646382.88    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co                        | Becton Dickinson & Co                                   | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     24837 | NS      | $4648741.29   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | PROTAGONIST THERAPEUTICS INC                            | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -164 | NC      | $-123000.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc                                 | Penumbra Inc                                            | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |     36577 | NS      | $9265685.64   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines Inc                     | Revolution Medicines Inc                                | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |     24290 | NS      | $1134343.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                            | Veeva Systems Inc                                       | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |    116456 | NS      | $34693406.96  | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | BIOMARIN PHARMACEUTICAL INC                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -161 | NC      | $-11672.50    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO LLC                      | AXSM.FLEX                                               | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |       -81 | NC      | $-60570.18    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EVERLY WELL INC                              | EVERLY WELL INC                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    382775 | NS      | $5642103.50   | 0.56%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Options Clearing Corp.                       | ALNYLAM PHARMACEUTICALS INC                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -225 | NC      | $-187875.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Moderna Inc                                  | Moderna Inc                                             | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |     45375 | NS      | $1172036.25   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Biohaven Ltd                                 | Biohaven Ltd                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | VG        |     88609 | NS      | $1330021.09   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corp                                 | Stryker Corp                                            | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |     29432 | NS      | $10880127.44  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                            | OCT25 ROG SW C @ 247.266                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DE               |  | US        |     -4000 | NC      | $-63627.46    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ORIC Pharmaceuticals Inc                     | ORIC Pharmaceuticals Inc                                | CUSIP: 68622P109<br>LEI: 54930033FJRNEYBW0L25 | Long             | EC               | CORP              | US        |    138524 | NS      | $1662288.00   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | MEDTRONIC PLC                                           | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | IE        |       -37 | NC      | $-6142.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| M3 Inc                                       | M3 Inc                                                  | CUSIP: 000000000<br>LEI: 3538001UOKRWIODYM055 | Long             | EC               | CORP              | JP        |    462800 | NS      | $7491947.34   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | NEUROCRINE BIOSCIENCES INC                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -171 | NC      | $-12825.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | TEMPUS AI INC                                           | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -95 | NC      | $-46550.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS BANK PLC                            | NOV25 DGX US C @ 190.241                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DE               |  | US        |    -29400 | NC      | $-179702.50   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                              | AstraZeneca PLC                                         | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     62740 | NS      | $4813412.80   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                  | OCT25 GMAB DC C @ 1832.25                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |    -19000 | NC      | $-341605.15   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                    | BlackRock Liquidity Funds: T-Fund, Institutional Shares | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |  23854564 | NS      | $23854564.23  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Twist Bioscience Corp                        | Twist Bioscience Corp                                   | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |     80595 | NS      | $2267943.30   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Disc Medicine Inc                            | Disc Medicine Inc                                       | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28021 | NS      | $1851627.68   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Wuxi Biologics Cayman Inc                    | Wuxi Biologics Cayman Inc                               | CUSIP: 000000000<br>LEI: 5493001TD2TH6VDTJU11 | Long             | EC               | CORP              | KY        |   4546000 | NS      | $24005216.11  | 2.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Denali Therapeutics Inc                      | Denali Therapeutics Inc                                 | CUSIP: 24823R105<br>LEI: 549300ZTQ2HO18L3Q830 | Long             | EC               | CORP              | US        |    169834 | NS      | $2465989.68   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Orchestra BioMed Holdings Inc                | Orchestra BioMed Holdings Inc                           | CUSIP: 68572M106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    136066 | NS      | $337443.68    | 0.03%             |  |  |  | No            |                  1 | On Loan: —       |
| SUSQUEHANNA FINANCIAL GROUP LLLP             | PTGX.FLEX                                               | CUSIP: 000000000<br>LEI: 549300E8QX0ZMRDC2M81 | N/A              | DE               |  | US        |      -340 | NC      | $-192644.68   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Eisai Co Ltd                                 | Eisai Co Ltd                                            | CUSIP: 000000000<br>LEI: 353800HDEE0ZYEX4QV91 | Long             | EC               | CORP              | JP        |     79400 | NS      | $2682354.45   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| AMUNIX INC                                   | AMUNIX INC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   5657068 | NS      | $282853.40    | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| BANK OF AMERICA NA                           | OCT25 UCB BB C @ 215.373                                | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |     -9800 | NC      | $-246339.26   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                         | OCT25 9926 HK C @ 177.123                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |    -73000 | NC      | $-0.66        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sagimet Biosciences Inc                      | Sagimet Biosciences Inc                                 | CUSIP: 786700104<br>LEI: 2549002OT2F8BV0VPD02 | Long             | EC               | CORP              | US        |    237980 | NS      | $1632542.80   | 0.16%             |  |  |  | No            |                  1 | On Loan: —       |
| BANK OF AMERICA NA                           | OCT25 ZEAL DC C @ 354.795                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |    -11300 | NC      | $-189201.67   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                            | NOV25 WST US C @ 260.59                                 | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DE               |  | US        |    -35700 | NC      | $-582599.01   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| AFFINIVAX INC                                | AFFINIVAX INC                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    183164 | NS      | $1813323.60   | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Guardant Health Inc                          | Guardant Health Inc                                     | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |    215976 | NS      | $13494180.48  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | ARVINAS INC                                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -240 | NC      | $-27600.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Tempus AI Inc                                | Tempus AI Inc                                           | CUSIP: 88023B103<br>LEI: 2549009LA0KWRAGQBX50 | Long             | EC               | CORP              | US        |     49915 | NS      | $4028639.65   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Axsome Therapeutics Inc                      | Axsome Therapeutics Inc                                 | CUSIP: 05464T104<br>LEI: 549300EXGR0XLRJEIB95 | Long             | EC               | CORP              | US        |     42781 | NS      | $5195752.45   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| WaVe Life Sciences Ltd                       | WaVe Life Sciences Ltd                                  | CUSIP: 000000000<br>LEI: 54930070006GPKFYZ813 | Long             | EC               | CORP              | SG        |    151116 | NS      | $1106169.12   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | TEMPUS AI INC                                           | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -94 | NC      | $-32900.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| OnKure Therapeutics Inc                      | OnKure Therapeutics Inc                                 | CUSIP: 68277Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    463586 | NS      | $1274861.50   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                  | OCT25 GALD SW C @ 141.678                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |    -27200 | NC      | $-60439.32    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Incyte Corp                                  | Incyte Corp                                             | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |     87390 | NS      | $7411545.90   | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | ABBOTT LABORATORIES                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -331 | NC      | $-37568.50    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Nuvation Bio Inc                             | Nuvation Bio Inc                                        | CUSIP: 67080N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    191533 | NS      | $708672.10    | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| Options Clearing Corp.                       | VEEVA SYSTEMS INC                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -442 | NC      | $-928200.00   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | TEVA PHARMACEUTICAL INDUSTRIES                          | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | IL        |      -848 | NC      | $-65296.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| NOMURA SECURITIES INTERNATIONAL INC          | IRON US FLEX                                            | CUSIP: 000000000<br>LEI: OXTKY6Q8X53C9ILVV871 | N/A              | DE               |  | US        |      -106 | NC      | $-56732.47    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Immatics NV                                  | Immatics NV                                             | CUSIP: 000000000<br>LEI: 984500DC691EZ96AF394 | Long             | EC               | CORP              | NL        |    162650 | NS      | $1385778.00   | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| MIRVIE INC                                   | MIRVIE INC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2793833 | NS      | $4078996.18   | 0.41%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Intuitive Surgical Inc                       | Intuitive Surgical Inc                                  | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      3135 | NS      | $1402066.05   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | SUMMIT THERAPEUTICS INC                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -108 | NC      | $-12960.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | SCHOLAR ROCK HOLDING CORP                               | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -162 | NC      | $-21060.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| JANE STREET EXECUTION SERVICES, LLC          | CRL.FLEX                                                | CUSIP: 000000000<br>LEI: 549300HXJLXCPDWAH070 | N/A              | DE               |  | US        |      -124 | NC      | $-78879.25    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK NA                                  | OCT25 2269 HK C @ 42.112                                | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | US        |   -500000 | NC      | $-102320.11   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | TWIST BIOSCIENCE CORP                                   | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -153 | NC      | $-29070.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SUSQUEHANNA FINANCIAL GROUP LLLP             | DNLI US FLEX                                            | CUSIP: 000000000<br>LEI: 549300E8QX0ZMRDC2M81 | N/A              | DE               |  | US        |      -645 | NC      | $-53562.74    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | ULTRAGENYX PHARMACEUTICAL INC                           | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -101 | NC      | $-4797.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO LLC                      | QGEN US FLEX                                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DE               |  | US        |      -321 | NC      | $-41157.34    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Avidity Biosciences Inc                      | Avidity Biosciences Inc                                 | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36258 | NS      | $1579761.06   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | UNITED THERAPEUTICS CORP                                | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -11 | NC      | $-16610.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | EXACT SCIENCES CORP                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -524 | NC      | $-180780.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings Inc                         | Labcorp Holdings Inc                                    | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     36336 | NS      | $10430612.16  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | BIOHAVEN LTD                                            | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | VG        |      -168 | NC      | $-15120.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CARBON HEALTH TECHNOLOGIES INC               | CARBON HEALTH TECHNOLOGIES INC                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2759320 | NS      | $27593.20     | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| GOLDFINCH BIO INC                            | GOLDFINCH BIO INC                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3850718 | NS      | $1540287.20   | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Options Clearing Corp.                       | BIOHAVEN LTD                                            | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | VG        |      -168 | NC      | $-10080.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Autolus Therapeutics PLC                     | Autolus Therapeutics PLC                                | CUSIP: 05280R100<br>LEI: 549300C0KZP8EYROLL02 | Long             | EC               | CORP              | GB        |    463993 | NS      | $756308.59    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Dialysis Technologies Ltd             | Quanta Dialysis Technologies Ltd                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        | 115766240 | NS      | $8251779.60   | 0.82%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Options Clearing Corp.                       | BRUKER CORP                                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -348 | NC      | $-27840.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                          | Abbott Laboratories                                     | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |    184653 | NS      | $24732422.82  | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                                  | Vaxcyte Inc                                             | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |     32817 | NS      | $1182068.34   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| JANE STREET EXECUTION SERVICES, LLC          | RGEN.FLEX                                               | CUSIP: 000000000<br>LEI: 549300HXJLXCPDWAH070 | N/A              | DE               |  | US        |      -130 | NC      | $-137252.05   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | BIOGEN INC                                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -94 | NC      | $-11750.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                               | Lonza Group AG                                          | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |     14800 | NS      | $9895847.51   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| ABCURO SERIES B                              | ABCURO SERIES B                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |   1092954 | NS      | $6448428.60   | 0.64%             |  |  |  | No            |                  3 | On Loan: No      |
| Bridgebio Pharma Inc                         | Bridgebio Pharma Inc                                    | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |    102653 | NS      | $5331796.82   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Bicycle Therapeutics PLC                     | Bicycle Therapeutics PLC                                | CUSIP: 088786108<br>LEI: 213800XKUI6R7GKC3E43 | Long             | EC               | CORP              | GB        |     53067 | NS      | $410738.58    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuvalent Inc                                 | Nuvalent Inc                                            | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    134486 | NS      | $11630349.28  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurogene Inc                                | Neurogene Inc                                           | CUSIP: 64135M105<br>LEI: 529900A7VIY892SZVW73 | Long             | EC               | CORP              | US        |     82832 | NS      | $1435478.56   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Kymera Therapeutics Inc                      | Kymera Therapeutics Inc                                 | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15237 | NS      | $862414.20    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoke Therapeutics Inc                       | Stoke Therapeutics Inc                                  | CUSIP: 86150R107<br>LEI: 549300RD25SS2DIJHJ67 | Long             | EC               | CORP              | US        |    309103 | NS      | $7263920.50   | 0.72%             |  |  |  | No            |                  1 | On Loan: —       |
| Dexcom Inc                                   | Dexcom Inc                                              | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |    308482 | NS      | $20757753.78  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ADARX PHARMACEUTICALS INC                    | ADARX PHARMACEUTICALS INC                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    860577 | NS      | $10232260.53  | 1.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Arcellx Inc                                  | Arcellx Inc                                             | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26392 | NS      | $2166783.20   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | GLAUKOS CORP                                            | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -98 | NC      | $-6370.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| JP MORGAN CHASE BANK                         | NOV25 4568 JP C @ 3577.5833                             | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |    -46200 | NC      | $-14881.50    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bio-Techne Corp                              | Bio-Techne Corp                                         | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |    119215 | NS      | $6631930.45   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | BIOGEN INC                                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -47 | NC      | $-9165.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Edgewise Therapeutics Inc                    | Edgewise Therapeutics Inc                               | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    109871 | NS      | $1782107.62   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                                  | Chemed Corp                                             | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |      6754 | NS      | $3024035.96   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | STRYKER CORP                                            | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -111 | NC      | $-13875.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| UCB SA                                       | UCB SA                                                  | CUSIP: 000000000<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |     25950 | NS      | $7243551.28   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Edwards Lifesciences Corp                    | Edwards Lifesciences Corp                               | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |    216810 | NS      | $16861313.70  | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | BECTON DICKINSON + CO                                   | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -94 | NC      | $-11985.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | NOVOCURE LTD                                            | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | JE        |      -591 | NC      | $-10342.50    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| QIAGEN NV                                    | QIAGEN NV                                               | CUSIP: 000000000<br>LEI: 54930036WK3GMCN17Z57 | Long             | EC               | CORP              | NL        |    169456 | NS      | $7571294.08   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunocore Limited                           | Immunocore Limited                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |    321900 | NS      | $11694627.00  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                       | OCT25 GALD SW C @ 148.0885                              | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DE               |  | US        |    -15600 | NC      | $-25659.41    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Legend Biotech Corp                          | Legend Biotech Corp                                     | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | KY        |     42405 | NS      | $1382827.05   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | REVOLUTION MEDICINES INC                                | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -46 | NC      | $-5405.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                                  | Cencora Inc                                             | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |     31471 | NS      | $9835631.63   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Rapid Micro Biosystems Inc                   | Rapid Micro Biosystems Inc                              | CUSIP: 75340L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    333064 | NS      | $1112433.76   | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Options Clearing Corp.                       | LABCORP HOLDINGS INC                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -65 | NC      | $-98150.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceutical Inc                | Ultragenyx Pharmaceutical Inc                           | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |     26815 | NS      | $806595.20    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                                   | Insmed Inc                                              | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |    180581 | NS      | $26005469.81  | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcus Biosciences Inc                        | Arcus Biosciences Inc                                   | CUSIP: 03969F109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     99007 | NS      | $1346495.20   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | INTUITIVE SURGICAL INC                                  | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -11 | NC      | $-6270.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | STOKE THERAPEUTICS INC                                  | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -1174 | NC      | $-117400.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| JP MORGAN CHASE BANK                         | OCT25 2256 HK C @ 19.4826                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |   -250000 | NC      | $-16151.48    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LB Pharmaceuticals Inc                       | LB Pharmaceuticals Inc                                  | CUSIP: 50180M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    210898 | NS      | $3330079.42   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Voyager Therapeutics Inc                     | Voyager Therapeutics Inc                                | CUSIP: 92915B106<br>LEI: 54930082S4XVR0ZWCC74 | Long             | EC               | CORP              | US        |    211857 | NS      | $989372.19    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Vir Biotechnology Inc                        | Vir Biotechnology Inc                                   | CUSIP: 92764N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44171 | NS      | $252216.41    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL           | NOV25 NTRA US C @ 179.01                                | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DE               |  | US        |    -12800 | NC      | $-56380.42    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | ABBOTT LABORATORIES                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -113 | NC      | $-44352.50    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings Inc             | Harmony Biosciences Holdings Inc                        | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41120 | NS      | $1133267.20   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| RadNet Inc                                   | RadNet Inc                                              | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |     38559 | NS      | $2938581.39   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Arvinas Inc                                  | Arvinas Inc                                             | CUSIP: 04335A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    147562 | NS      | $1257228.24   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corp                        | Tenet Healthcare Corp                                   | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |     70897 | NS      | $14394926.88  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                                   | Natera Inc                                              | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     67562 | NS      | $10875455.14  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc                   | Neurocrine Biosciences Inc                              | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     91508 | NS      | $12845893.04  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                                 | Exelixis Inc                                            | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    227940 | NS      | $9413922.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | EXACT SCIENCES CORP                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -478 | NC      | $-172080.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | VIKING THERAPEUTICS INC                                 | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -46 | NC      | $-2530.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | BIOMARIN PHARMACEUTICAL INC                             | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -161 | NC      | $-2012.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | MCKESSON CORP                                           | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -49 | NC      | $-336875.00   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| CITIBANK NA                                  | NOV25 2256 HK C @ 20.1264                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | US        |    -14000 | NC      | $-1439.73     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| McKesson Corp                                | McKesson Corp                                           | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     13076 | NS      | $10101733.04  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | AGILENT TECHNOLOGIES INC                                | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -77 | NC      | $-21752.50    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | INSMED INC                                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -79 | NC      | $-164715.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | NATERA INC                                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -128 | NC      | $-32640.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| NUMAB THERAPEUTICS AG                        | NUMAB THERAPEUTICS AG                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |   1139305 | NS      | $8916362.23   | 0.89%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Options Clearing Corp.                       | BOSTON SCIENTIFIC CORP                                  | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -99 | NC      | $-1980.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | TENET HEALTHCARE CORP                                   | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -269 | NC      | $-224615.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| CG oncology Inc                              | CG oncology Inc                                         | CUSIP: 156944100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25078 | NS      | $1010141.84   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | DEXCOM INC                                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -338 | NC      | $-18590.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                        | Lantheus Holdings Inc                                   | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     41510 | NS      | $2129047.90   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | RHYTHM PHARMACEUTICALS INC                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -428 | NC      | $-113420.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | GUARDANT HEALTH INC                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -225 | NC      | $-99000.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA NA                           | OCT25 2256 HK C @ 18.9315                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |   -642000 | NC      | $-62783.91    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | LABCORP HOLDINGS INC                                    | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -73 | NC      | $-28470.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Kiniksa Pharmaceuticals International Plc    | Kiniksa Pharmaceuticals International Plc               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     84235 | NS      | $3270845.05   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Therapeutics Inc                      | Summit Therapeutics Inc                                 | CUSIP: 86627T108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28660 | NS      | $592115.60    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| EXO IMAGING INC                              | EXO IMAGING INC                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1053928 | NS      | $779906.73    | 0.08%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Options Clearing Corp.                       | HALOZYME THERAPEUTICS INC                               | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -224 | NC      | $-15120.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| REGENXBIO Inc                                | REGENXBIO Inc                                           | CUSIP: 75901B107<br>LEI: 549300EOES47LATSET33 | Long             | EC               | CORP              | US        |     64920 | NS      | $626478.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Glaukos Corp                                 | Glaukos Corp                                            | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |     26050 | NS      | $2124377.50   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| SUSQUEHANNA FINANCIAL GROUP LLLP             | BEAM US FLEX                                            | CUSIP: 000000000<br>LEI: 549300E8QX0ZMRDC2M81 | N/A              | DE               |  | US        |      -182 | NC      | $-82492.77    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| INSITRO INC                                  | INSITRO INC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    802478 | NS      | $7350698.48   | 0.73%             |  |  |  | Yes           |                  3 | On Loan: No      |
| CITIBANK NA                                  | OCT25 2256 HK C @ 19.668                                | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | US        |   -643000 | NC      | $-66061.20    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Mettler-Toledo International Inc             | Mettler-Toledo International Inc                        | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |      5824 | NS      | $7149600.64   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corp                        | Encompass Health Corp                                   | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |     60613 | NS      | $7699063.26   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| JP MORGAN CHASE BANK                         | OCT25 2269 HK C @ 38.409                                | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |   -500000 | NC      | $-201982.15   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Teva Pharmaceutical Industries Ltd           | Teva Pharmaceutical Industries Ltd                      | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             | EC               | CORP              | IL        |    446565 | NS      | $9020613.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | ENCOMPASS HEALTH CORP                                   | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -230 | NC      | $-34500.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | AGILENT TECHNOLOGIES INC                                | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -77 | NC      | $-8085.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Alkermes PLC                                 | Alkermes PLC                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |    162816 | NS      | $4884480.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: —       |
| Elanco Animal Health Inc                     | Elanco Animal Health Inc                                | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Long             | EC               | CORP              | US        |    270205 | NS      | $5441928.70   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| PsiQuantum Corp                              | PsiQuantum Corp                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    571947 | NS      | $23478424.35  | 2.34%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Options Clearing Corp.                       | ALKERMES PLC                                            | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | IE        |      -618 | NC      | $-106605.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc                        | Quest Diagnostics Inc                                   | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |     41442 | NS      | $7898016.36   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholar Rock Holding Corp                    | Scholar Rock Holding Corp                               | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |     42838 | NS      | $1595287.12   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| West Pharmaceutical Services Inc             | West Pharmaceutical Services Inc                        | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |     94164 | NS      | $24702042.12  | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics Inc                         | PTC Therapeutics Inc                                    | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |     81756 | NS      | $5017365.72   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| KARTOS THERAPEUTICS INC                      | KARTOS THERAPEUTICS INC                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1333783 | NS      | $7575887.44   | 0.75%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Waters Corp                                  | Waters Corp                                             | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |     25346 | NS      | $7598984.26   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | DEXCOM INC                                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -418 | NC      | $-20900.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Abbisko Cayman Ltd                           | Abbisko Cayman Ltd                                      | CUSIP: 000000000<br>LEI: 655600UAX2YV03PRXN31 | Long             | EC               | CORP              | KY        |   4562250 | NS      | $10547128.56  | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                       | JOHNSON + JOHNSON                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -168 | NC      | $-95760.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | METTLER-TOLEDO INTERNATIONAL I                          | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -36 | NC      | $-17190.00    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | JOHNSON + JOHNSON                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -160 | NC      | $-112800.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| SUSQUEHANNA FINANCIAL GROUP LLLP             | IONS US FLEX                                            | CUSIP: 000000000<br>LEI: 549300E8QX0ZMRDC2M81 | N/A              | DE               |  | US        |      -224 | NC      | $-87372.10    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| NIKANG THERAPEUTICS INC                      | NIKANG THERAPEUTICS INC                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1394189 | NS      | $4977254.73   | 0.50%             |  |  |  | Yes           |                  3 | On Loan: No      |
| 4D Molecular Therapeutics Inc                | 4D Molecular Therapeutics Inc                           | CUSIP: 35104E100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63685 | NS      | $553422.65    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA VIGIL NEUROSCIE                       | CONTRA VIGIL NEUROSCIE                                  | CUSIP: 926CVR010<br>LEI: N/A                  | Long             |  | CORP              | US        |    131344 | NS      | $6567.20      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Options Clearing Corp.                       | NEUROCRINE BIOSCIENCES INC                              | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -176 | NC      | $-128480.00   | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| JANE STREET EXECUTION SERVICES, LLC          | WVE US FLEX                                             | CUSIP: 000000000<br>LEI: 549300HXJLXCPDWAH070 | N/A              | DE               |  | US        |      -447 | NC      | $-8573.01     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Roivant Sciences Ltd                         | Roivant Sciences Ltd                                    | CUSIP: 000000000<br>LEI: 549300DL466NY5J6U724 | Long             | EC               | CORP              | BM        |    245238 | NS      | $3710450.94   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc                       | IDEXX Laboratories Inc                                  | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |     36740 | NS      | $23472818.60  | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Annexon Inc                                  | Annexon Inc                                             | CUSIP: 03589W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    144084 | NS      | $439456.20    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| JANE STREET EXECUTION SERVICES, LLC          | INCY.FLEX                                               | CUSIP: 000000000<br>LEI: 549300HXJLXCPDWAH070 | N/A              | DE               |  | US        |      -205 | NC      | $-72204.49    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| INSITRO INC                                  | INSITRO INC                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    196818 | NS      | $1802852.88   | 0.18%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Allogene Therapeutics Inc                    | Allogene Therapeutics Inc                               | CUSIP: 019770106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    425415 | NS      | $527514.60    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                       | QIAGEN NV                                               | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | NL        |      -322 | NC      | $-6440.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Black Diamond Therapeutics Inc               | Black Diamond Therapeutics Inc                          | CUSIP: 09203E105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    504978 | NS      | $1913866.62   | 0.19%             |  |  |  | No            |                  1 | On Loan: —       |
| RENAGADE THERAPEUTICS A 2                    | RENAGADE THERAPEUTICS A 2                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3584906 | NS      | $8890566.88   | 0.89%             |  |  |  | No            |                  3 | On Loan: No      |
| SUSQUEHANNA FINANCIAL GROUP LLLP             | IDXX US FLEX                                            | CUSIP: 000000000<br>LEI: 549300E8QX0ZMRDC2M81 | N/A              | DE               |  | US        |      -139 | NC      | $-421673.32   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-29

**Name of Applicant:** BlackRock Health Sciences Term Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer