| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | MAK Capital One LLC | 30,005,343 | 3,987,727 | 48,308,602.23 | 5.8274 | 11.2741 | 12/31/2025 |
| 2 | Armistice Capital LLC | 17,500,000 | 1,900,000 | 28,175,000 | 0.6436 | 6.5754 | 12/31/2025 |
| 3 | Syncona Investment Management Ltd. | 16,640,720 | 0 | 26,791,559.2 | 35.2514 | 6.2525 | 12/31/2025 |
| 4 | Qatar Investment Authority (Investment Management) | 15,000,000 | 0 | 24,150,000 | 0.1319 | 5.6361 | 03/01/2025 |
| 5 | Tetragon Partners UK LLP | 9,500,000 | 0 | 15,295,000 | 2.1037 | 3.5695 | 12/31/2025 |
| 6 | Schroder Investment Management Ltd. | 9,489,345 | 1,056,092 | 15,277,845.45 | 0.0057 | 3.5655 | 12/31/2025 |
| 7 | AXA Investment Managers UK Ltd. | 3,361,156 | 0 | 5,411,461.16 | 0.0175 | 1.2629 | 12/31/2025 |
| 8 | Laurion Capital Management LP | 3,316,626 | 0 | 5,339,767.86 | 0.367 | 1.2462 | 12/31/2025 |
| 9 | Renaissance Technologies LLC | 3,105,404 | -1,775,968 | 4,999,700.44 | 0.0071 | 1.1668 | 12/31/2025 |
| 10 | Bank of America, NA (Private Banking) | 1,944,354 | -73,004 | 3,130,409.94 | 0.0009 | 0.7306 | 12/31/2025 |
| 11 | Acadian Asset Management LLC | 1,804,117 | -49,305 | 2,904,628.37 | 0.0038 | 0.6779 | 12/31/2025 |
| 12 | BlackRock Fund Advisors | 1,347,481 | 368,562 | 2,169,444.41 | 0 | 0.5063 | 12/31/2025 |
| 13 | Morgan Stanley & Co. LLC | 1,346,049 | 209,028 | 2,167,138.89 | 0.0007 | 0.5058 | 12/31/2025 |
| 14 | Atle Fund Management AB | 1,169,634 | 0 | 1,883,110.74 | 0.4212 | 0.4395 | 12/31/2025 |
| 15 | Citadel Securities LLC | 1,159,791 | -4,884,452 | 1,867,263.51 | 0.0036 | 0.4358 | 12/31/2025 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | International Biotechnology Trust Plc (Top 10 Holdings) | 7,384,662 | -149,461 | 11,889,305.82 | 2.6391 | 2.7747 | 02/28/2026 |
| 2 | AXA Framlington Health Fund | 3,361,156 | 0 | 5,411,461.16 | 0.9688 | 1.2629 | 02/27/2026 |
| 3 | Wellington Mgmt. Funds IE Plc - Global Health Care Eq. | 1,790,131 | 0 | 2,882,110.91 | 0.1453 | 0.6726 | 06/30/2025 |
| 4 | Schroders Capital Global Innovation Trust plc | 1,664,076 | -8,592 | 2,679,162.36 | 1.4709 | 0.6253 | 12/31/2025 |
| 5 | iShares Biotechnology ETF | 1,294,201 | 291,374 | 2,083,663.61 | 0.026 | 0.4863 | 04/30/2026 |
| 6 | Regnan UK Umbrella Fund - Global Equity Impact Solutions | 526,058 | 0 | 846,953.38 | 1.5233 | 0.1977 | 05/31/2025 |
| 7 | BlackRock Health Sciences Trust II | 361,229 | -102,764 | 581,578.69 | 0.0579 | 0.1357 | 12/31/2025 |
| 8 | HealthInvest Sustainable Healthcare | 306,423 | 0 | 493,341.03 | 0.1755 | 0.1151 | 12/31/2024 |
| 9 | Sentinel Fund (The) - Sentinel Income Portfolio | 287,149 | 81,948 | 462,309.89 | 0.5811 | 0.1079 | 04/30/2026 |
| 10 | BlackRock Health Sciences Opportunities Portfolio | 274,300 | -481,456 | 441,623 | 0.0074 | 0.1031 | 03/31/2026 |
| 11 | Erste Stock Biotec | 195,000 | 0 | 313,950 | 0.1134 | 0.0733 | 01/30/2026 |
| 12 | Ashburton Investments SICAV - Global Equity Growth Fund | 192,643 | 0 | 310,155.23 | 0.5678 | 0.0724 | 02/27/2026 |
| 13 | HealthInvest Small & Mid Cap Healthcare | 173,221 | 0 | 278,885.81 | 0.2812 | 0.0651 | 12/31/2024 |
| 14 | iShares IV Plc - NASDAQ US Biotechnology UCITS ETF | 146,846 | 8,265 | 236,422.06 | 0.0267 | 0.0552 | 04/30/2026 |
| 15 | Fidelity Nasdaq Composite Index Fund | 110,578 | 0 | 178,030.58 | 0.0007 | 0.0415 | 03/31/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | MAK Capital One LLC | 30,005,343 | 3,987,727 | 48,308,602.23 | 5.8274 | 11.2741 | 12/31/2025 |
| 2 | Armistice Capital LLC | 17,500,000 | 1,900,000 | 28,175,000 | 0.6436 | 6.5754 | 12/31/2025 |
| 3 | Schroder Investment Management Ltd. | 9,489,345 | 1,056,092 | 15,277,845.45 | 0.0057 | 3.5655 | 12/31/2025 |
| 4 | UBS Securities LLC | 755,508 | 635,653 | 1,216,367.88 | 0.0004 | 0.2839 | 03/31/2026 |
| 5 | BlackRock Fund Advisors | 1,347,481 | 368,562 | 2,169,444.41 | 0 | 0.5063 | 12/31/2025 |
| 6 | Susquehanna Financial Group LLLP | 598,987 | 363,159 | 964,369.07 | 0.0013 | 0.2251 | 12/31/2025 |
| 7 | Point72 Asset Management LP | 305,359 | 305,359 | 491,627.99 | 0.0007 | 0.1147 | 12/31/2025 |
| 8 | Cetera Investment Advisers LLC | 1,099,750 | 298,500 | 1,770,597.5 | 0.0018 | 0.4132 | 12/31/2025 |
| 9 | Morgan Stanley & Co. LLC | 1,346,049 | 209,028 | 2,167,138.89 | 0.0007 | 0.5058 | 12/31/2025 |
| 10 | UBS Switzerland AG (Investment Management) | 132,700 | 132,700 | 213,647 | 0.0004 | 0.0499 | 03/31/2026 |
| # | Holder Name | Position | Position Change | $ Market Value | % Port | % O/S | Rpt Date |
|---|---|---|---|---|---|---|---|
| 1 | Citadel Securities LLC | 1,159,791 | -4,884,452 | 1,867,263.51 | 0.0036 | 0.4358 | 12/31/2025 |
| 2 | Deep Track Capital LP | 0 | -2,568,613 | 0 | 0 | 0 | |
| 3 | Renaissance Technologies LLC | 3,105,404 | -1,775,968 | 4,999,700.44 | 0.0071 | 1.1668 | 12/31/2025 |
| 4 | Affinity Asset Advisors LLC | 0 | -1,750,000 | 0 | 0 | 0 | |
| 5 | J.O. Hambro Capital Management Ltd. | 0 | -481,081 | 0 | 0 | 0 | |
| 6 | Goldman Sachs & Co. LLC (Private Banking) | 27,749 | -466,004 | 44,675.89 | 0 | 0.0104 | 12/31/2025 |
| 7 | Millennium Management LLC | 0 | -391,833 | 0 | 0 | 0 | |
| 8 | Marshall Wace LLP | 270,277 | -371,675 | 435,145.97 | 0.0004 | 0.1016 | 12/31/2025 |
| 9 | Quadrature Capital Ltd. | 42,341 | -314,922 | 68,169.01 | 0.0006 | 0.0159 | 12/31/2025 |
| 10 | HRT Financial LP | 0 | -210,172 | 0 | 0 | 0 |
Data provided by FactSet Research Systems Inc.