NPORT-EX 2 NPORT_LCXF_68567458_0322.htm BlackRock Health Sciences Trust

Schedule of Investments  (unaudited) 

March 31, 2022

   

BlackRock Health Sciences Trust (BME)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

    
Biotechnology — 18.2%            

AbbVie, Inc.

     119,589     $ 19,386,573  

Acumen Pharmaceuticals, Inc.(a)

    91,591       358,121  

Acumen Pharmaceuticals, Inc., (Acquired 06/17/21, Cost: $231,999)(b)

    61,060       238,745  

Agios Pharmaceuticals, Inc.(a)

    10,515       306,092  

Alnylam Pharmaceuticals, Inc.(a)

    15,583       2,544,548  

Ambrx Biopharma, Inc., ADR(a)

    43,409       178,845  

Amgen, Inc.(c)

    62,902       15,210,962  

Arcus Biosciences, Inc.(a)

    8,600       271,416  

Arcutis Biotherapeutics, Inc.(a)

    42,854       825,368  

Argenx SE, ADR(a)

    5,340       1,683,755  

Biogen, Inc.(a)

    37,060       7,804,836  

BioMarin Pharmaceutical, Inc.(a)

    32,659       2,518,009  

Blueprint Medicines Corp.(a)

    8,268       528,160  

Cerevel Therapeutics Holdings, Inc.(a)

    16,785       587,643  

Connect Biopharma Holdings Ltd.(a)

    33,960       102,559  

Decibel Therapeutics, Inc.(a)

    46,884       142,527  

Design Therapeutics, Inc.(a)

    13,967       225,567  

Enanta Pharmaceuticals, Inc.(a)

    3,150       224,217  

Everest Medicines Ltd.(a)(d)

    30,500       99,380  

Exact Sciences Corp.(a)

    14,850       1,038,312  

Genmab A/S(a)

    3,493       1,261,508  

Genmab A/S, ADR(a)

    16,911       611,840  

Gilead Sciences, Inc.

     84,084       4,998,794  

Horizon Therapeutics PLC(a)

    19,895       2,093,153  

Imago Biosciences, Inc.(a)

    47,824       921,568  

Immuneering Corp., Class A(a)

    14,456       93,530  

Immunocore Holdings PLC, ADR(a)

    9,668       289,073  

Incyte Corp.(a)

    26,247       2,084,537  

Kronos Bio, Inc.(a)

    16,099       116,396  

Krystal Biotech, Inc.(a)

    5,553       369,497  

Mirati Therapeutics, Inc.(a)

    8,661       712,107  

Moderna, Inc.(a)

    27,750       4,780,215  

Monte Rosa Therapeutics, Inc.(a)

    28,575       400,621  

Neurocrine Biosciences, Inc.(a)

    22,637       2,122,219  

PMV Pharmaceuticals, Inc.(a)

    17,490       364,142  

Point Biopharma Global, Inc.(a)

    27,000       215,190  

Prothena Corp. PLC(a)

    21,064       770,310  

PTC Therapeutics, Inc.(a)

    4,745       177,036  

Regeneron Pharmaceuticals, Inc.(a)

    11,420       7,975,956  

Revolution Medicines, Inc.(a)

    10,535       268,748  

Sarepta Therapeutics, Inc.(a)

    20,473       1,599,351  

Seagen, Inc.(a)

    67,648       9,744,694  

Sierra Oncology, Inc.(a)

    10,571       338,800  

Sigilon Therapeutics, Inc.(a)

    19,555       28,746  

Talaris Therapeutics, Inc.(a)

    23,939       235,560  

Tenaya Therapeutics, Inc.(a)(e)

    25,502       300,413  

TScan Therapeutics, Inc.(a)

    29,940       83,832  

Vertex Pharmaceuticals, Inc.(a)

    40,578       10,589,641  
   

 

 

  
      107,823,112  
Diversified Financial Services(a) — 0.3%            

Health Assurance Acquisition Corp., Class A

     90,235       888,815  

Health Sciences Acquisitions Corp. 2

     13,696       135,727  

Helix Acquisition Corp., Class A

     11,715       130,037  

MedTech Acquisition Corp., Class A

     42,753       418,979  
   

 

 

  
      1,573,558  
Health Care Equipment & Supplies — 19.9%            

Abbott Laboratories(c)

    173,407       20,524,452  
Security   Shares      Value  
Health Care Equipment & Supplies (continued)  

ABIOMED, Inc.(a)

    14,359      $ 4,756,275  

Alcon, Inc.

     49,720        3,944,288  

Align Technology, Inc.(a)

    5,355        2,334,780  

Baxter International, Inc

     64,807        5,025,135  

Boston Scientific Corp.(a)

    280,032        12,402,617  

Cooper Cos., Inc.

     4,645        1,939,706  

DexCom, Inc.(a)

    9,460        4,839,736  

Edwards Lifesciences Corp.(a)

    72,145        8,492,909  

IDEXX Laboratories, Inc.(a)

    5,510        3,014,301  

Insulet Corp.(a)

    3,650        972,323  

Intuitive Surgical, Inc.(a)

    33,459        10,093,911  

Masimo Corp.(a)

    15,427        2,245,246  

Medtronic PLC

     85,741        9,512,964  

Nevro Corp.(a)

    40,253        2,911,499  

Novocure Ltd.(a)

    10,555        874,482  

ResMed, Inc.

     18,667        4,526,934  

Stryker Corp.

     38,911        10,402,856  

Tandem Diabetes Care, Inc.(a)

    10,265        1,193,717  

Teleflex, Inc.

     12,205        4,330,700  

Zimmer Biomet Holdings, Inc.

     29,812        3,812,955  

ZimVie, Inc.

     4,980        113,743  
    

 

 

  
       118,265,529  
Health Care Providers & Services — 23.6%  

Agiliti, Inc.(a)

    75,106        1,584,737  

Agilon Health, Inc.(a)

    21,477        544,442  

Amedisys, Inc.(a)

    19,757        3,403,934  

AmerisourceBergen Corp.

     50,520        7,815,949  

Anthem, Inc.(c)

    35,417        17,397,539  

CareMax, Inc., (Acquired 07/22/21, Cost: $257,350)(b)

    25,735        192,240  

CareMax, Inc.(a)

    21,007        156,922  

Centene Corp.(a)

    67,852        5,712,460  

Cigna Corp.

     68,869        16,501,701  

Encompass Health Corp.

     40,167        2,856,275  

Guardant Health, Inc.(a)

    11,675        773,352  

HCA Healthcare, Inc

     33,930        8,503,537  

Henry Schein, Inc.(a)

    42,335        3,691,189  

LHC Group, Inc.(a)

    20,224        3,409,766  

McKesson Corp.

     13,300        4,071,529  

Quest Diagnostics, Inc.

     55,835        7,641,578  

UnitedHealth Group, Inc.(c)

    110,124        56,159,936  
    

 

 

  
       140,417,086  
Health Care Technology(a) — 0.4%             

Omnicell, Inc.

     6,425        831,973  

Teladoc Health, Inc.

     21,980        1,585,418  
    

 

 

  
       2,417,391  
Life Sciences Tools & Services — 10.7%             

10X Genomics, Inc., Class A(a)

    8,445        642,411  

Agilent Technologies, Inc.

     21,380        2,829,216  

Avantor, Inc.(a)

    122,559        4,144,945  

Danaher Corp.

     61,730        18,107,261  

Icon PLC(a)

    12,815        3,116,864  

Illumina, Inc.(a)

    10,337        3,611,748  

IQVIA Holdings, Inc.(a)

    21,568        4,986,737  

IsoPlexis Corp.(a)(e)

    30,336        104,053  

Nautilus Biotechnology, Inc.(a)

    16,560        71,870  

QIAGEN NV(a)

    23,635        1,158,115  

Rapid Micro Biosystems, Inc., Class A(a)

    20,561        139,609  
 

 

 

1

  

Schedule of Investments  (unaudited) (continued)

March 31, 2022

   

BlackRock Health Sciences Trust (BME)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Life Sciences Tools & Services (continued)  

Thermo Fisher Scientific, Inc.(c)(f)

    39,878     $ 23,553,941  

West Pharmaceutical Services, Inc.

     2,635       1,082,221  
   

 

 

  
      63,548,991  
Pharmaceuticals — 22.1%            

AstraZeneca PLC

     69,935       9,274,283  

AstraZeneca PLC, ADR

     23,520       1,560,317  

Bristol-Myers Squibb Co.

     101,098       7,383,187  

Daiichi Sankyo Co. Ltd.

     104,800       2,288,516  

Eli Lilly & Co.

     83,998       24,054,507  

Hansoh Pharmaceutical Group Co. Ltd.(d)

    882,438       1,467,269  

Johnson & Johnson(f)

    147,424       26,127,956  

Merck & Co., Inc.(c)

    177,147       14,534,911  

Pfizer, Inc.(c)

    434,086       22,472,632  

Roche Holding AG

     5,417       2,143,299  

Sanofi

     65,400       6,686,469  

Sanofi, ADR

     54,625       2,804,447  

Zoetis, Inc.

     56,189       10,596,684  
   

 

 

  
      131,394,477  

Total Common Stocks — 95.2%
(Cost: $376,306,216)

       565,440,144  
   

 

 

  
     Benefical
Interest (000)		         
Other Interests(g)            
Pharmaceuticals — 0.0%            

Afferent Pharmaceuticals, Inc.(h)

  $ 190       157,833  
   

 

 

  

Total Other Interests — 0.0%
(Cost: $ — )

       157,833  
   

 

 

  
     Shares         
Preferred Securities            
Preferred Stocks — 0.9%(b)(h)            
Biotechnology — 0.3%            

Affinvax, Inc., Series C, (Acquired 01/06/21, Cost: $199,992)

     6,331       219,939  

Cellarity, Inc., Series B, (Acquired 01/15/21, Cost: $265,002)

     44,167       212,002  

Goldfinch Bio, Inc., Series B, (Acquired 06/26/20, Cost: $224,200)

     190,000       275,500  

Laronde, Inc., Series B, (Acquired 07/28/21, Cost: $590,800)

     21,100       590,800  

Neurogene, Inc., Series B, (Acquired 12/14/20, Cost: $260,568)

     106,790       260,567  
   

 

 

  
      1,558,808  
Health Care Equipment & Supplies — 0.4%  

Exo Imaging, Inc., Series C, (Acquired 06/24/21, Cost: $595,999)

     101,741       511,757  

Nucleix Ltd., Series AA, (Acquired 03/25/21, Cost: $1,070,001)

     367,395       1,146,272  

Quanta Dialysis Technologies Ltd., Series D, (Acquired 06/18/21, Cost: $515,759)

     4,243,029       468,204  

Swift Health Systems, Inc., Series D, (Acquired 08/27/21, Cost: $286,998)

     92,580       245,337  
   

 

 

  
      2,371,570  
Security   Shares     Value  
Pharmaceuticals — 0.1%            

Insitro, Inc., Series C, (Acquired 03/10/21, Cost: $560,000)

     30,616     $ 420,052  
   

 

 

  
Software — 0.1%            

Carbon Health Technologies, Inc., (Acquired 07/09/21, Cost: $907,000)

     907       906,737  
   

 

 

  
      5,257,167  
   

 

 

  

Total Preferred Securities — 0.9%
(Cost: $5,476,319)

       5,257,167  
   

 

 

  
Warrants            
Health Care Providers & Services(a) — 0.0%  

CareMax, Inc. (Expires 07/16/2025)

     4,201       6,301  

Health Assurance Acquisition Corp. (Expires 11/12/2025)

     22,558       11,505  
   

 

 

  
      17,806  
Pharmaceuticals — 0.0%            

Nuvation Bio, Inc. (Expires 07/07/2027)(a)

    4,050       3,079  
   

 

 

  

Total Warrants — 0.0%
(Cost: $82,675)

       20,885  
   

 

 

  

Total Long-Term Investments — 96.1%
(Cost: $381,865,210)

       570,876,029  
   

 

 

  
Short-Term Securities            
Money Market Funds — 4.9%            

BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.21%(i)(j)

    28,660,206       28,660,206  

SL Liquidity Series, LLC, Money Market Series, 0.43%(i)(j)(k)

    125,078       125,040  
   

 

 

  

Total Short-Term Securities — 4.9%
(Cost: $28,785,243)

       28,785,246  
   

 

 

  

Total Investments Before Options Written — 101.0%
(Cost: $410,650,453)

 

     599,661,275  
   

 

 

  

Options Written — (1.3)%
(Premiums Received: $(5,600,449))

       (7,413,569 ) 
   

 

 

  

Total Investments, Net of Options Written — 99.7%
(Cost: $405,050,004)

 

     592,247,706  
   

 

 

  

Other Assets Less Liabilities — 0.3%

       1,662,646  
   

 

 

  

Net Assets — 100.0%

     $ 593,910,352  
   

 

 

  

 

(a) 

Non-income producing security.

(b) 

Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $5,688,152, representing 1.0% of its net assets as of period end, and an original cost of $5,965,668.

(c) 

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

(d) 

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.

(e) 

All or a portion of this security is on loan.

(f) 

All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives.

(g) 

Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities.

(h) 

Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(i) 

Affiliate of the Trust.

 

 

 

S C H E D U L E  O F  I N V E S T M  E N T S

  

2

Schedule of Investments  (unaudited) (continued)

March 31, 2022

    BlackRock Health Sciences Trust (BME)

 

(j) 

Annualized 7-day yield as of period end.

(k) 

All or a portion of this security was purchased with the cash collateral from loaned securities.

For Trust compliance purposes, the Trust’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended March 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer    Value at
12/31/21		      Purchases
at Cost		      Proceeds
from Sales		      Net
Realized
Gain (Loss)		      Change in
Unrealized
Appreciation
(Depreciation)		      Value at
03/31/22		      Shares
Held at
03/31/22		      Income      Capital Gain
Distributions
from
Underlying
Funds		  

BlackRock Liquidity Funds, T-Fund, Institutional Class

    $ 27,581,316      $ 1,078,890 (a)     $ —      $ —      $ —      $ 28,660,206        28,660,206      $ 3,278      $ —  

SL Liquidity Series, LLC, Money Market Series

      211,489        —        (86,261 )(a)       (199 )       11        125,040        125,078        3,047 (b)       —  
           

 

 

     

 

 

     

 

 

        

 

 

     

 

 

  
            $ (199 )     $ 11      $ 28,785,246         $ 6,325      $ —  
           

 

 

     

 

 

     

 

 

        

 

 

     

 

 

  

 

  (a) 

Represents net amount purchased (sold).

 
  (b) 

All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

 

Derivative Financial Instruments Outstanding as of Period End

Exchange-Traded Options Written

 

Description    Number of
Contracts		        Expiration
Date		        Exercise Price       

Notional

Amount (000)

        Value  
Call                                                   

Baxter International, Inc.

      159          04/01/22        USD     83.00        USD     1,233        $ (1,590 ) 

Boston Scientific Corp.

      100          04/01/22        USD     45.00        USD     443          (800 ) 

Cigna Corp.

      70          04/01/22        USD     240.00        USD     1,677          (9,450 ) 

Illumina, Inc.

      28          04/01/22        USD     350.00        USD     978          (8,400 ) 

Intuitive Surgical, Inc.

      16          04/01/22        USD     305.00        USD     483          (2,320 ) 

UnitedHealth Group, Inc.

      209          04/01/22        USD     485.00        USD     10,658          (554,372 ) 

Vertex Pharmaceuticals, Inc.

      55          04/01/22        USD     240.00        USD     1,435          (127,325 ) 

Amgen, Inc.

      70          04/08/22        USD     235.00        USD     1,693          (58,275 ) 

Anthem, Inc.

      14          04/08/22        USD     455.00        USD     688          (52,150 ) 

Boston Scientific Corp.

      332          04/08/22        USD     45.00        USD     1,470          (11,952 ) 

Centene Corp.

      112          04/08/22        USD     86.00        USD     943          (8,400 ) 

Cigna Corp.

      111          04/08/22        USD     240.00        USD     2,660          (37,185 ) 

Danaher Corp.

      76          04/08/22        USD     270.00        USD     2,229          (185,060 ) 

Edwards Lifesciences Corp.

      136          04/08/22        USD     113.00        USD     1,601          (72,760 ) 

Medtronic PLC

      108          04/08/22        USD     107.00        USD     1,198          (45,630 ) 

Pfizer, Inc.

      415          04/08/22        USD     49.00        USD     2,148          (123,670 ) 

Quest Diagnostics, Inc.

      73          04/08/22        USD     139.00        USD     999          (5,750 ) 

Tandem Diabetes Care, Inc.

      12          04/08/22        USD     125.00        USD     140          (1,260 ) 

UnitedHealth Group, Inc.

      126          04/08/22        USD     495.00        USD     6,426          (235,305 ) 

10X Genomics, Inc., Class A

      8          04/14/22        USD     80.00        USD     61          (2,100 ) 

Abbott Laboratories

      368          04/14/22        USD     125.00        USD     4,356          (6,808 ) 

ABIOMED, Inc.

      31          04/14/22        USD     330.00        USD     1,027          (29,605 ) 

Alcon, Inc.

      51          04/14/22        USD     82.50        USD     405          (2,805 ) 

Align Technology, Inc.

      20          04/14/22        USD     460.00        USD     872          (14,200 ) 

Alnylam Pharmaceuticals, Inc.

      33          04/14/22        USD     170.00        USD     539          (11,303 ) 

AmerisourceBergen Corp.

      32          04/14/22        USD     145.00        USD     495          (32,480 ) 

Amgen, Inc.

      61          04/14/22        USD     242.50        USD     1,475          (17,385 ) 

Anthem, Inc.

      73          04/14/22        USD     480.00        USD     3,586          (123,370 ) 

Argenx SE

      15          04/14/22        USD     320.00        USD     473          (12,000 ) 

AstraZeneca PLC

      89          04/14/22        USD     65.00        USD     590          (17,577 ) 

 

 

3

  

    

Schedule of Investments  (unaudited) (continued)

March 31, 2022

   

BlackRock Health Sciences Trust (BME)

 

Exchange-Traded Options Written (continued)    

 

Description    Number of
Contracts		        Expiration
Date		        Exercise Price       

Notional

Amount (000)

        Value  
Call (continued)                                                   

Avantor, Inc.

      268          04/14/22        USD     37.80        USD     906        $ (641 ) 

Biogen, Inc.

      140          04/14/22        USD     230.00        USD     2,948          (19,950 ) 

BioMarin Pharmaceutical, Inc.

      123          04/14/22        USD     95.00        USD     948          (12,300 ) 

Blueprint Medicines Corp.

      23          04/14/22        USD     80.00        USD     147          (2,530 ) 

Boston Scientific Corp.

      273          04/14/22        USD     43.00        USD     1,209          (50,368 ) 

Cerevel Therapeutics Holdings, Inc.

      32          04/14/22        USD     30.00        USD     112          (18,880 ) 

Cigna Corp.

      80          04/14/22        USD     230.00        USD     1,917          (94,000 ) 

Cooper Cos., Inc.

      4          04/14/22        USD     410.00        USD     167          (5,480 ) 

Danaher Corp.

      71          04/14/22        USD     290.00        USD     2,083          (51,120 ) 

DexCom, Inc.

      17          04/14/22        USD     453.00        USD     870          (104,087 ) 

Edwards Lifesciences Corp.

      250          04/14/22        USD     125.00        USD     2,943          (10,000 ) 

Enanta Pharmaceuticals, Inc.

      5          04/14/22        USD     75.00        USD     36          (1,500 ) 

Gilead Sciences, Inc.

      254          04/14/22        USD     65.00        USD     1,510          (1,905 ) 

Guardant Health, Inc.

      22          04/14/22        USD     85.00        USD     146          (440 ) 

HCA Healthcare, Inc.

      94          04/14/22        USD     280.00        USD     2,356          (1,880 ) 

Incyte Corp.

      45          04/14/22        USD     75.00        USD     357          (23,400 ) 

Insulet Corp.

      2          04/14/22        USD     270.00        USD     53          (1,780 ) 

Intuitive Surgical, Inc.

      57          04/14/22        USD     320.00        USD     1,720          (8,265 ) 

IQVIA Holdings, Inc.

      37          04/14/22        USD     250.00        USD     855          (2,405 ) 

LHC Group, Inc.

      38          04/14/22        USD     140.00        USD     641          (108,680 ) 

Merck & Co., Inc.

      137          04/14/22        USD     80.00        USD     1,124          (35,003 ) 

Novocure Ltd.

      40          04/14/22        USD     70.00        USD     331          (55,000 ) 

Pfizer, Inc.

      130          04/14/22        USD     50.00        USD     673          (29,900 ) 

Prothena Corp. PLC

      40          04/14/22        USD     40.00        USD     146          (2,900 ) 

Qiagen NV

      72          04/14/22        USD     55.00        USD     353          (3,420 ) 

Regeneron Pharmaceuticals, Inc.

      21          04/14/22        USD     650.00        USD     1,467          (108,255 ) 

ResMed, Inc.

      35          04/14/22        USD     250.00        USD     849          (7,175 ) 

Revolution Medicines, Inc.

      15          04/14/22        USD     21.50        USD     38          (7,516 ) 

Sanofi, ADR

      55          04/14/22        USD     55.00        USD     282          (550 ) 

Sarepta Therapeutics, Inc.

      50          04/14/22        USD     90.00        USD     391          (1,875 ) 

Seagen, Inc.

      115          04/14/22        USD     135.00        USD     1,657          (126,500 ) 

Sierra Oncology, Inc.

      20          04/14/22        USD     40.00        USD     64          (1,400 ) 

Stryker Corp.

      82          04/14/22        USD     270.00        USD     2,192          (30,340 ) 

Teladoc Health, Inc.

      12          04/14/22        USD     95.00        USD     87          (300 ) 

Teleflex, Inc.

      38          04/14/22        USD     330.00        USD     1,348          (100,700 ) 

Thermo Fisher Scientific, Inc.

      151          04/14/22        USD     590.00        USD     8,919          (157,040 ) 

Vertex Pharmaceuticals, Inc.

      50          04/14/22        USD     250.00        USD     1,305          (76,000 ) 

West Pharmaceutical Services, Inc.

      5          04/14/22        USD     400.00        USD     205          (8,425 ) 

Zimmer Biomet Holdings, Inc.

      40          04/14/22        USD     130.00        USD     512          (11,700 ) 

Zoetis, Inc.

      107          04/14/22        USD     210.00        USD     2,018          (1,605 ) 

AmerisourceBergen Corp.

      136          04/22/22        USD     150.00        USD     2,104          (89,760 ) 

Amgen, Inc.

      54          04/22/22        USD     235.00        USD     1,306          (50,625 ) 

Anthem, Inc.

      47          04/22/22        USD     480.00        USD     2,309          (102,225 ) 

Baxter International, Inc.

      177          04/22/22        USD     88.00        USD     1,372          (30,090 ) 

Boston Scientific Corp.

      273          04/22/22        USD     44.00        USD     1,209          (36,582 ) 

Centene Corp.

      75          04/22/22        USD     86.00        USD     631          (12,188 ) 

Eli Lilly & Co.

      110          04/22/22        USD     265.00        USD     3,150          (256,850 ) 

Illumina, Inc.

      22          04/22/22        USD     345.00        USD     769          (36,520 ) 

Johnson & Johnson

      266          04/22/22        USD     175.00        USD     4,714          (117,705 ) 

McKesson Corp.

      31          04/22/22        USD     285.00        USD     949          (71,765 ) 

Medtronic PLC

      87          04/22/22        USD     110.00        USD     965          (22,707 ) 

Moderna, Inc.

      52          04/22/22        USD     205.00        USD     896          (12,818 ) 

Teladoc Health, Inc.

      9          04/22/22        USD     74.00        USD     65          (3,263 ) 

Vertex Pharmaceuticals, Inc.

      49          04/22/22        USD     250.00        USD     1,279          (81,830 ) 

Abbott Laboratories

      98          04/29/22        USD     120.00        USD     1,160          (22,638 ) 

Abbott Laboratories

      89          04/29/22        USD     122.00        USD     1,053          (13,350 ) 

AbbVie, Inc.

      376          04/29/22        USD     160.00        USD     6,095          (174,840 ) 

Bristol-Myers Squibb Co.

      117          04/29/22        USD     72.00        USD     854          (25,857 ) 

Centene Corp.

      70          04/29/22        USD     91.00        USD     589          (7,525 ) 

Exact Sciences Corp.

      56          04/29/22        USD     70.00        USD     392          (30,800 ) 

Gilead Sciences, Inc.

      65          04/29/22        USD     60.00        USD     386          (9,165 ) 

Intuitive Surgical, Inc.

      54          04/29/22        USD     295.00        USD     1,629          (84,240 ) 

 

 

S C H E D U L E  O F  I N V E S T M  E N T S

  

4

Schedule of Investments  (unaudited) (continued)

March 31, 2022

    BlackRock Health Sciences Trust (BME)

 

Exchange-Traded Options Written (continued)

 

Description    Number of
Contracts		        Expiration
Date		        Exercise Price       

Notional

Amount (000)

        Value  
Call (continued)                                                   

Medtronic PLC

      22          04/29/22        USD     110.00        USD     244        $ (6,721 ) 

Merck & Co., Inc.

      200          04/29/22        USD     80.00        USD     1,641          (63,000 ) 

Moderna, Inc.

      53          04/29/22        USD     205.00        USD     913          (18,815 ) 

Pfizer, Inc.

      511          04/29/22        USD     56.00        USD     2,645          (16,096 ) 

Sarepta Therapeutics, Inc.

      10          04/29/22        USD     86.00        USD     78          (2,100 ) 

Tandem Diabetes Care, Inc.

      13          04/29/22        USD     115.00        USD     151          (9,555 ) 

Teladoc Health, Inc.

      62          04/29/22        USD     60.00        USD     447          (87,885 ) 

UnitedHealth Group, Inc.

      17          04/29/22        USD     495.00        USD     867          (41,140 ) 

Abbott Laboratories

      103          05/06/22        USD     124.00        USD     1,219          (13,442 ) 

AmerisourceBergen Corp.

      17          05/06/22        USD     160.00        USD     263          (4,718 ) 

Bristol-Myers Squibb Co.

      267          05/06/22        USD     73.00        USD     1,950          (47,392 ) 

Johnson & Johnson

      294          05/06/22        USD     180.00        USD     5,211          (67,326 ) 

Pfizer, Inc.

      283          05/06/22        USD     53.00        USD     1,465          (39,620 ) 

10X Genomics, Inc., Class A

      16          05/20/22        USD     90.00        USD     122          (8,880 ) 

AbbVie, Inc.

      78          05/20/22        USD     150.00        USD     1,264          (100,620 ) 

ABIOMED, Inc.

      29          05/20/22        USD     330.00        USD     961          (65,685 ) 

Agilent Technologies, Inc.

      81          05/20/22        USD     140.00        USD     1,072          (19,642 ) 

Agilon Health, Inc.

      81          05/20/22        USD     25.00        USD     205          (21,465 ) 

Alcon, Inc.

      68          05/20/22        USD     82.50        USD     539          (13,090 ) 

Alnylam Pharmaceuticals, Inc.

      26          05/20/22        USD     180.00        USD     425          (13,780 ) 

Amedisys, Inc.

      75          05/20/22        USD     170.00        USD     1,292          (94,125 ) 

AmerisourceBergen Corp.

      6          05/20/22        USD     155.00        USD     93          (3,570 ) 

Amgen, Inc.

      54          05/20/22        USD     245.00        USD     1,306          (32,535 ) 

Arcutis Biotherapeutics, Inc.

      54          05/20/22        USD     20.00        USD     104          (9,045 ) 

Argenx SE

      5          05/20/22        USD     340.00        USD     158          (5,250 ) 

Avantor, Inc.

      197          05/20/22        USD     37.50        USD     666          (7,880 ) 

BioMarin Pharmaceutical, Inc.

      1          05/20/22        USD     85.00        USD     8          (233 ) 

Blueprint Medicines Corp.

      8          05/20/22        USD     70.00        USD     51          (3,320 ) 

Boston Scientific Corp.

      86          05/20/22        USD     45.00        USD     381          (12,427 ) 

Cerevel Therapeutics Holdings, Inc.

      31          05/20/22        USD     35.00        USD     109          (12,865 ) 

Cooper Cos., Inc.

      13          05/20/22        USD     440.00        USD     543          (7,540 ) 

Danaher Corp.

      51          05/20/22        USD     300.00        USD     1,496          (38,760 ) 

DexCom, Inc.

      18          05/20/22        USD     510.00        USD     921          (67,500 ) 

Eli Lilly & Co.

      209          05/20/22        USD     270.00        USD     5,985          (463,457 ) 

Enanta Pharmaceuticals, Inc.

      6          05/20/22        USD     75.00        USD     43          (4,290 ) 

Encompass Health Corp.

      80          05/20/22        USD     71.26        USD     569          (25,326 ) 

Guardant Health, Inc.

      22          05/20/22        USD     60.00        USD     146          (24,310 ) 

Henry Schein, Inc.

      160          05/20/22        USD     90.00        USD     1,395          (38,400 ) 

Horizon Therapeutics PLC

      75          05/20/22        USD     105.00        USD     789          (46,875 ) 

Icon PLC

      50          05/20/22        USD     260.00        USD     1,216          (31,750 ) 

Incyte Corp.

      54          05/20/22        USD     80.00        USD     429          (22,140 ) 

Insulet Corp.

      11          05/20/22        USD     270.00        USD     293          (17,160 ) 

IQVIA Holdings, Inc.

      44          05/20/22        USD     240.00        USD     1,017          (27,280 ) 

Krystal Biotech, Inc.

      21          05/20/22        USD     80.00        USD     140          (3,308 ) 

LHC Group, Inc.

      38          05/20/22        USD     155.00        USD     641          (53,010 ) 

McKesson Corp.

      19          05/20/22        USD     300.00        USD     582          (29,925 ) 

Medtronic PLC

      108          05/20/22        USD     110.00        USD     1,198          (42,390 ) 

Merck & Co., Inc.

      336          05/20/22        USD     82.50        USD     2,757          (76,944 ) 

Mirati Therapeutics, Inc.

      16          05/20/22        USD     105.00        USD     132          (2,080 ) 

Neurocrine Biosciences, Inc.

      86          05/20/22        USD     95.00        USD     806          (46,440 ) 

Nevro Corp.

      60          05/20/22        USD     75.00        USD     434          (29,100 ) 

Pfizer, Inc.

      310          05/20/22        USD     57.50        USD     1,605          (15,500 ) 

Prothena Corp. PLC

      40          05/20/22        USD     40.00        USD     146          (9,600 ) 

Qiagen NV

      17          05/20/22        USD     55.00        USD     83          (1,445 ) 

Quest Diagnostics, Inc.

      63          05/20/22        USD     145.00        USD     862          (10,395 ) 

Quest Diagnostics, Inc.

      29          05/20/22        USD     150.00        USD     397          (2,103 ) 

Regeneron Pharmaceuticals, Inc.

      22          05/20/22        USD     690.00        USD     1,537          (73,040 ) 

ResMed, Inc.

      35          05/20/22        USD     270.00        USD     849          (9,100 ) 

Revolution Medicines, Inc.

      25          05/20/22        USD     20.00        USD     64          (17,000 ) 

Sanofi, ADR

      97          05/20/22        USD     51.00        USD     498          (11,753 ) 

Sarepta Therapeutics, Inc.

      17          05/20/22        USD     85.00        USD     133          (6,970 ) 

Seagen, Inc.

      142          05/20/22        USD     145.00        USD     2,046          (139,160 ) 

 

 

5

  

    

Schedule of Investments  (unaudited) (continued)

March 31, 2022

   

BlackRock Health Sciences Trust (BME)

 

Exchange-Traded Options Written (continued)

 

Description    Number of
Contracts		        Expiration
Date		        Exercise Price        Notional
Amount (000)		        Value  
Call (continued)                                                   

Sierra Oncology, Inc.

      20          05/20/22        USD     40.00        USD     64        $ (3,300 ) 

Tandem Diabetes Care, Inc.

      14          05/20/22        USD     125.00        USD     163          (7,070 ) 

Teleflex, Inc.

      23          05/20/22        USD     370.00        USD     816          (23,690 ) 

UnitedHealth Group, Inc.

      66          05/20/22        USD     510.00        USD     3,366          (130,350 ) 

West Pharmaceutical Services, Inc.

      5          05/20/22        USD     420.00        USD     205          (8,225 ) 

Zimmer Biomet Holdings, Inc.

      66          05/20/22        USD     125.00        USD     844          (48,180 ) 

PTC Therapeutics, Inc.

      18          06/17/22        USD     40.00        USD     67          (4,410 ) 

Quest Diagnostics, Inc.

      29          06/17/22        USD     150.25        USD     397          (4,129 ) 

Sanofi, ADR

      55          06/17/22        USD     55.00        USD     282          (3,300 ) 

Zimmer Biomet Holdings, Inc.

      7          06/17/22        USD     130.00        USD     90          (4,095 ) 
                          

 

 

  
                           $ (6,862,867 ) 
                          

 

 

  

OTC Options Written

 

Description    Counterparty    Number of
Contracts		      Expiration
Date		      Exercise Price     

Notional

Amount (000)

      Value  
Call                                                    

Genmab A/S

    Barclays Bank PLC      5,000        04/01/22        USD       33.75        USD       181      $ (12,223 ) 

Sanofi

    UBS AG      8,000        04/01/22        EUR       94.03        EUR       740        (768 ) 

Daiichi Sankyo Co. Ltd.

    JPMorgan Chase Bank N.A.      10,400        04/06/22        JPY       2,522.92        JPY       27,872        (12,323 ) 

Sanofi

    UBS AG      6,800        04/06/22        EUR       95.71        EUR       629        (882 ) 

Encompass Health Corp.

    JPMorgan Chase Bank N.A.      7,200        04/08/22        USD       66.70        USD       512        (34,216 ) 

Hansoh Pharmaceutical Group Ltd.

    JPMorgan Chase Bank N.A.      114,000        04/12/22        HKD       17.95        HKD       1,496        (10 ) 

Astrazeneca PLC

    Goldman Sachs International      21,900        04/19/22        GBP       95.01        GBP       2,219        (182,929 ) 

Sanofi

    Goldman Sachs International      7,100        04/19/22        EUR       93.81        EUR       657        (9,793 ) 

Stryker Corp.

    Goldman Sachs International      13,000        04/26/22        USD       256.48        USD       3,476        (183,960 ) 

Daiichi Sankyo Co. Ltd.

    BNP Paribas S.A.      6,800        04/27/22        JPY       2,535.23        JPY       18,224        (9,769 ) 

Zoetis, Inc.

    Citibank N.A.      10,600        04/28/22        USD       194.11        USD       1,999        (27,519 ) 

Alcon, Inc.

    BNP Paribas S.A.      6,900        05/02/22        USD       77.16        USD       547        (28,639 ) 

AstraZeneca PLC

    Credit Suisse International      4,600        05/04/22        GBP       101.19        GBP       466        (18,555 ) 

Hansoh Pharmaceutical Group Ltd.

    JPMorgan Chase Bank N.A.      158,000        05/04/22        HKD       16.74        HKD       2,073        (1,952 ) 

Roche Holding AG

    Royal Bank of Canada      1,000        05/04/22        CHF       374.03        CHF       366        (5,128 ) 

Hansoh Pharmaceutical Group Ltd.

    JPMorgan Chase Bank N.A.      64,000        05/11/22        HKD       17.84        HKD       840        (509 ) 

Daiichi Sankyo Co. Ltd.

    JPMorgan Chase Bank N.A.      22,600        05/13/22        JPY       2,895.92        JPY       60,568        (4,783 ) 

Roche Holding AG

    Goldman Sachs International      1,100        05/13/22        CHF       383.93        CHF       403        (3,536 ) 

Genmab A/S

    Morgan Stanley & Co. International PLC      1,400        05/16/22        DKK       2,528.40        DKK       3,451        (13,208 ) 
                     

 

 

  
                      $ (550,702 ) 
                     

 

 

  

Fair Value Hierarchy as of Period End

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

 

  •  

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

 

  •  

Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and

 

  •  

Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments

 

 

S C H E D U L E  O F  I N V E S T M  E N T S

  

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Schedule of Investments  (unaudited) (continued)

March 31, 2022

   BlackRock Health Sciences Trust (BME)

 

Fair Value Hierarchy as of Period End (continued)

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.

Certain investments of the Trust were fair valued using net asset value (“NAV”) per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

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

                  

Investments

                  

Long-Term Investments

                  

Common Stocks

                  

Biotechnology

    $ 106,223,479        $ 1,599,633        $ —        $ 107,823,112  

Diversified Financial Services

      1,573,558          —          —          1,573,558  

Health Care Equipment & Supplies

      118,265,529          —          —          118,265,529  

Health Care Providers & Services

      140,224,846          192,240          —          140,417,086  

Health Care Technology

      2,417,391          —          —          2,417,391  

Life Sciences Tools & Services

      63,548,991          —          —          63,548,991  

Pharmaceuticals

      109,534,641          21,859,836          —          131,394,477  

Other Interests

      —          —          157,833          157,833  

Preferred Securities

                  

Preferred Stocks

      —          —          5,257,167          5,257,167  

Warrants

      20,885          —          —          20,885  

Short-Term Securities

                  

Money Market Funds

      28,660,206          —          —          28,660,206  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 570,469,526        $ 23,651,709        $ 5,415,000          599,536,235  
  

 

 

       

 

 

       

 

 

       

 

 

  

Investments Valued at NAV(a)

                    125,040  
                 

 

 

  
                  $ 599,661,275  
                 

 

 

  

Derivative Financial Instruments(b)

                 

Liabilities

                  

Equity Contracts

    $ (6,691,965 )       $ (721,604 )       $ —        $ (7,413,569 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a)

Certain investments of the Trust were fair valued using NAV per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

 
  (b)

Derivative financial instruments are options written. Options written are shown at value.

 

 

Currency Abbreviation
CHF   Swiss Franc
DKK   Danish Krone
EUR   Euro
GBP   British Pound
HKD   Hong Kong Dollar
JPY   Japanese Yen
USD   United States Dollar
Portfolio Abbreviation
ADR   American Depositary Receipt

 

 

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