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        <balance>4623</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Royalty Pharma plc</name>
        <lei>N/A</lei>
        <title>ROYALTY PHARMA PLC COMMON STOCK</title>
        <cusip>76028H209</cusip>
        <identifiers>
          <isin value="GB00BMVP7Y09"/>
          <ticker value="RPRX US"/>
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        <balance>16108</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>622413.12</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GeneDx Holdings Corp.</name>
        <lei>N/A</lei>
        <title>GENEDX HOLDINGS CORP COMMON STOCK USD.0001</title>
        <cusip>81663L200</cusip>
        <identifiers>
          <isin value="US81663L2007"/>
          <ticker value="WGS US"/>
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        <balance>3568</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>464054.08</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Shattuck Labs Inc.</name>
        <lei>N/A</lei>
        <title>SHATTUCK LABS INC COMMON STOCK USD.0001</title>
        <cusip>82024L103</cusip>
        <identifiers>
          <isin value="US82024L1035"/>
          <ticker value="STTK US"/>
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        <balance>34305</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>125213.25</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sionna Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>SIONNA THERAPEUTICS INC COMMON STOCK USD.001</title>
        <cusip>829401108</cusip>
        <identifiers>
          <isin value="US8294011080"/>
          <ticker value="SION US"/>
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        <balance>15281</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>628660.34</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Soleno Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>SOLENO THERAPEUTICS INC COMMON STOCK USD.001</title>
        <cusip>834203309</cusip>
        <identifiers>
          <isin value="US8342033094"/>
          <ticker value="SLNO US"/>
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        <balance>3326</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>153993.8</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC COMMON STOCK USD.01</title>
        <cusip>00287Y109</cusip>
        <identifiers>
          <isin value="US00287Y1091"/>
          <ticker value="ABBV US"/>
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        <balance>30271</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6916620.79</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Abivax SA</name>
        <lei>N/A</lei>
        <title>ABIVAX SA ADR EUR.01</title>
        <cusip>00370M103</cusip>
        <identifiers>
          <isin value="US00370M1036"/>
          <ticker value="ABVX US"/>
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        <balance>9011</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1215178.41</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Spyre Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>SPYRE THERAPEUTICS INC COMMON STOCK USD.0001</title>
        <cusip>00773J202</cusip>
        <identifiers>
          <isin value="US00773J2024"/>
          <ticker value="SYRE US"/>
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        <balance>22418</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>734413.68</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Agios Pharmaceuticals Inc.</name>
        <lei>N/A</lei>
        <title>AGIOS PHARMACEUTICALS INC COMMON STOCK USD.001</title>
        <cusip>00847X104</cusip>
        <identifiers>
          <isin value="US00847X1046"/>
          <ticker value="AGIO US"/>
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        <balance>8470</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>230553.4</valUSD>
        <pctVal>0.0936439041</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Arrowhead Pharmaceuticals Inc.</name>
        <lei>549300O3CSB8T7OZ3D66</lei>
        <title>ARROWHEAD PHARMACEUTICALS INC COMMON STOCK USD.001</title>
        <cusip>04280A100</cusip>
        <identifiers>
          <isin value="US04280A1007"/>
          <ticker value="ARWR US"/>
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        <balance>7600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>504564</valUSD>
        <pctVal>0.2049388247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AstraZeneca PLC</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC ADR</title>
        <cusip>046353108</cusip>
        <identifiers>
          <isin value="US0463531089"/>
          <ticker value="AZN US"/>
        </identifiers>
        <balance>76396</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7023084.28</valUSD>
        <pctVal>2.8525670443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AtaiBeckley Inc.</name>
        <lei>N/A</lei>
        <title>ATAIBECKLEY INC COMMON STOCK EUR.16</title>
        <cusip>04650F101</cusip>
        <identifiers>
          <isin value="US04650F1012"/>
          <ticker value="ATAI US"/>
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        <balance>8100</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33129</valUSD>
        <pctVal>0.0134560102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Aura Biosciences Inc.</name>
        <lei>N/A</lei>
        <title>AURA BIOSCIENCES INC COMMON STOCK USD.00001</title>
        <cusip>05153U107</cusip>
        <identifiers>
          <isin value="US05153U1079"/>
          <ticker value="AURA US"/>
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        <balance>10426</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56821.7</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Axsome Therapeutics Inc.</name>
        <lei>549300EXGR0XLRJEIB95</lei>
        <title>AXSOME THERAPEUTICS INC COMMON STOCK USD.0001</title>
        <cusip>05464T104</cusip>
        <identifiers>
          <isin value="US05464T1043"/>
          <ticker value="AXSM US"/>
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        <balance>5742</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1048718.88</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bicara Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>BICARA THERAPEUTICS INC COMMON STOCK USD.0001</title>
        <cusip>055477103</cusip>
        <identifiers>
          <isin value="US0554771032"/>
          <ticker value="BCAX US"/>
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        <balance>21421</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>360515.43</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Beam Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>BEAM THERAPEUTICS INC COMMON STOCK USD.01</title>
        <cusip>07373V105</cusip>
        <identifiers>
          <isin value="US07373V1052"/>
          <ticker value="BEAM US"/>
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        <balance>27477</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>761662.44</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BeOne Medicines Ltd</name>
        <lei>549300JFUK6FRD5MH739</lei>
        <title>BEONE MEDICINES LTD ADR USD.0001</title>
        <cusip>07725L102</cusip>
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          <isin value="US07725L1026"/>
          <ticker value="ONC US"/>
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        <balance>1932</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>586960.92</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Caris Life Sciences Inc.</name>
        <lei>N/A</lei>
        <title>CARIS LIFE SCIENCES INC COMMON STOCK USD.001</title>
        <cusip>142152107</cusip>
        <identifiers>
          <isin value="US1421521071"/>
          <ticker value="CAI US"/>
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        <balance>22632</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>610611.36</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Celcuity Inc.</name>
        <lei>N/A</lei>
        <title>CELCUITY INC COMMON STOCK USD.001</title>
        <cusip>15102K100</cusip>
        <identifiers>
          <isin value="US15102K1007"/>
          <ticker value="CELC US"/>
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        <balance>12901</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1286745.74</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Celldex Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>CELLDEX THERAPEUTICS INC COMMON STOCK USD.001</title>
        <cusip>15117B202</cusip>
        <identifiers>
          <isin value="US15117B2025"/>
          <ticker value="CLDX US"/>
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        <balance>11227</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>304925.32</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Centene Corporation</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>CENTENE CORP COMMON STOCK USD.001</title>
        <cusip>15135B101</cusip>
        <identifiers>
          <isin value="US15135B1017"/>
          <ticker value="CNC US"/>
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        <balance>13214</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>543756.1</valUSD>
        <pctVal>0.2208574850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Disc Medicine Inc.</name>
        <lei>N/A</lei>
        <title>DISC MEDICINE INC COMMON STOCK USD.0001</title>
        <cusip>254604101</cusip>
        <identifiers>
          <isin value="US2546041011"/>
          <ticker value="IRON US"/>
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        <balance>9263</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>735574.83</valUSD>
        <pctVal>0.2987685232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Edwards Lifesciences Corporation</name>
        <lei>YA13X31F3V31L8TMPR58</lei>
        <title>EDWARDS LIFESCIENCES CORP COMMON STOCK USD1.0</title>
        <cusip>28176E108</cusip>
        <identifiers>
          <isin value="US28176E1082"/>
          <ticker value="EW US"/>
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        <balance>12478</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1063749.5</valUSD>
        <pctVal>0.4320632711</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Elanco Animal Health Incorporated</name>
        <lei>N/A</lei>
        <title>ELANCO ANIMAL HEALTH INC COMMON STOCK</title>
        <cusip>28414H103</cusip>
        <identifiers>
          <isin value="US28414H1032"/>
          <ticker value="ELAN US"/>
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        <balance>9000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>203670</valUSD>
        <pctVal>0.0827246701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Climb Bio Inc.</name>
        <lei>N/A</lei>
        <title>CLIMB BIO INC COMMON STOCK</title>
        <cusip>28658R106</cusip>
        <identifiers>
          <isin value="US28658R1068"/>
          <ticker value="CLYM US"/>
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        <balance>34800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>139200</valUSD>
        <pctVal>0.0565388819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Insmed Incorporated</name>
        <lei>N/A</lei>
        <title>INSMED INC COMMON STOCK USD.01</title>
        <cusip>457669307</cusip>
        <identifiers>
          <isin value="US4576693075"/>
          <ticker value="INSM US"/>
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        <balance>27085</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4713873.4</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Inspire Medical Systems Inc.</name>
        <lei>N/A</lei>
        <title>INSPIRE MEDICAL SYSTEMS INC COMMON STOCK USD.001</title>
        <cusip>457730109</cusip>
        <identifiers>
          <isin value="US4577301090"/>
          <ticker value="INSP US"/>
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        <balance>3200</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>295136</valUSD>
        <pctVal>0.1198754270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Intuitive Surgical Inc.</name>
        <lei>54930052SRG011710797</lei>
        <title>INTUITIVE SURGICAL INC COMMON STOCK USD.001</title>
        <cusip>46120E602</cusip>
        <identifiers>
          <isin value="US46120E6023"/>
          <ticker value="ISRG US"/>
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        <balance>19519</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11054780.84</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Monopar Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>MONOPAR THERAPEUTICS INC COMMON STOCK USD.001</title>
        <cusip>61023L207</cusip>
        <identifiers>
          <isin value="US61023L2079"/>
          <ticker value="MNPR US"/>
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        <balance>364</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23769.2</valUSD>
        <pctVal>0.0096543390</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Replimune Group Inc.</name>
        <lei>N/A</lei>
        <title>REPLIMUNE GROUP INC COMMON STOCK USD.001</title>
        <cusip>76029N106</cusip>
        <identifiers>
          <isin value="US76029N1063"/>
          <ticker value="REPL US"/>
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        <balance>41148</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>399958.56</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ROWE T PRICE GOV RES FD 20340919 00000.0000000000</name>
        <lei>N/A</lei>
        <title>ROWE T PRICE GOV RES FD 20340919 00000.0000000000</title>
        <cusip>76105Y109</cusip>
        <identifiers>
          <isin value="US76105Y1091"/>
          <ticker value="76105Y109010"/>
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        <balance>367787.28</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>367787.28</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Revolution Medicines Inc.</name>
        <lei>N/A</lei>
        <title>REVOLUTION MEDICINES INC COMMON STOCK</title>
        <cusip>76155X100</cusip>
        <identifiers>
          <isin value="US76155X1000"/>
          <ticker value="RVMD US"/>
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        <balance>30724</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2447166.6</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MediWound Ltd</name>
        <lei>N/A</lei>
        <title>MEDIWOUND LTD COMMON STOCK ILS.01</title>
        <cusip>M68830112</cusip>
        <identifiers>
          <isin value="IL0011316309"/>
          <ticker value="MDWD US"/>
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        <balance>3687</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>68062.02</valUSD>
        <pctVal>0.0276447594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alignment Healthcare Inc.</name>
        <lei>N/A</lei>
        <title>ALIGNMENT HEALTHCARE INC COMMON STOCK USD.001</title>
        <cusip>01625V104</cusip>
        <identifiers>
          <isin value="US01625V1044"/>
          <ticker value="ALHC US"/>
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        <balance>34030</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>672092.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Allogene Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>ALLOGENE THERAPEUTICS INC COMMON STOCK USD.001</title>
        <cusip>019770106</cusip>
        <identifiers>
          <isin value="US0197701065"/>
          <ticker value="ALLO US"/>
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        <balance>81376</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>111485.12</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alnylam Pharmaceuticals Inc.</name>
        <lei>N/A</lei>
        <title>ALNYLAM PHARMACEUTICALS INC COMMON STOCK USD.01</title>
        <cusip>02043Q107</cusip>
        <identifiers>
          <isin value="US02043Q1076"/>
          <ticker value="ALNY US"/>
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        <balance>14420</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5734113</valUSD>
        <pctVal>2.3290254139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cencora Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>CENCORA INC COMMON STOCK USD.01</title>
        <cusip>03073E105</cusip>
        <identifiers>
          <isin value="US03073E1055"/>
          <ticker value="COR US"/>
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        <balance>4589</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1549934.75</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Annexon Inc.</name>
        <lei>N/A</lei>
        <title>ANNEXON INC COMMON STOCK</title>
        <cusip>03589W102</cusip>
        <identifiers>
          <isin value="US03589W1027"/>
          <ticker value="ANNX US"/>
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        <balance>22109</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>110987.18</valUSD>
        <pctVal>0.0450796772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Elevance Health Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ELEVANCE HEALTH INC COMMON STOCK USD.01</title>
        <cusip>036752103</cusip>
        <identifiers>
          <isin value="US0367521038"/>
          <ticker value="ELV US"/>
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        <balance>6367</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2231951.85</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Apogee Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>APOGEE THERAPEUTICS INC COMMON STOCK USD.00001</title>
        <cusip>03770N101</cusip>
        <identifiers>
          <isin value="US03770N1019"/>
          <ticker value="APGE US"/>
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        <balance>14786</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1116047.28</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arcellx Inc.</name>
        <lei>N/A</lei>
        <title>ARCELLX INC COMMON STOCK USD.001</title>
        <cusip>03940C100</cusip>
        <identifiers>
          <isin value="US03940C1009"/>
          <ticker value="ACLX US"/>
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        <balance>9119</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>594558.8</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Arcutis Biotherapeutics Inc.</name>
        <lei>N/A</lei>
        <title>ARCUTIS BIOTHERAPEUTICS INC COMMON STOCK USD.0001</title>
        <cusip>03969K108</cusip>
        <identifiers>
          <isin value="US03969K1088"/>
          <ticker value="ARQT US"/>
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        <balance>12700</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>368808</valUSD>
        <pctVal>0.1497987927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>argenx SE</name>
        <lei>N/A</lei>
        <title>ARGENX SE ADR</title>
        <cusip>04016X101</cusip>
        <identifiers>
          <isin value="US04016X1019"/>
          <ticker value="ARGX US"/>
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        <balance>11533</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9698676.35</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ascendis Pharma A/S</name>
        <lei>N/A</lei>
        <title>ASCENDIS PHARMA A/S ADR DKK1.0</title>
        <cusip>04351P101</cusip>
        <identifiers>
          <isin value="US04351P1012"/>
          <ticker value="ASND US"/>
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        <balance>15020</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3202864.8</valUSD>
        <pctVal>1.3009080073</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alkermes Public Limited Company</name>
        <lei>549300YHRMYLL071E243</lei>
        <title>ALKERMES PLC COMMON STOCK USD.01</title>
        <cusip>G01767105</cusip>
        <identifiers>
          <isin value="IE00B56GVS15"/>
          <ticker value="ALKS US"/>
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        <balance>8455</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>236570.9</valUSD>
        <pctVal>0.0960880328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Biohaven Ltd.</name>
        <lei>N/A</lei>
        <title>BIOHAVEN LTD COMMON STOCK</title>
        <cusip>G1110E107</cusip>
        <identifiers>
          <isin value="VGG1110E1079"/>
          <ticker value="BHVN US"/>
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        <balance>22549</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>254578.21</valUSD>
        <pctVal>0.1034020643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kestra Medical Technologies Ltd</name>
        <lei>N/A</lei>
        <title>KESTRA MEDICAL TECHNOLOGIES LT COMMON STOCK USD100.0</title>
        <cusip>G52441105</cusip>
        <identifiers>
          <isin value="BMG524411052"/>
          <ticker value="KMTS US"/>
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        <balance>18799</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Roivant Sciences Ltd.</name>
        <lei>N/A</lei>
        <title>ROIVANT SCIENCES LTD COMMON STOCK USD.0000001</title>
        <cusip>G76279101</cusip>
        <identifiers>
          <isin value="BMG762791017"/>
          <ticker value="ROIV US"/>
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        <balance>72989</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1583861.3</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Beta Bionics Inc.</name>
        <lei>N/A</lei>
        <title>BETA BIONICS INC COMMON STOCK USD.0001</title>
        <cusip>08659B102</cusip>
        <identifiers>
          <isin value="US08659B1026"/>
          <ticker value="BBNX US"/>
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        <balance>8425</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>256709.75</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bicycle Therapeutics plc</name>
        <lei>N/A</lei>
        <title>BICYCLE THERAPEUTICS PLC ADR USD.01</title>
        <cusip>088786108</cusip>
        <identifiers>
          <isin value="US0887861088"/>
          <ticker value="BCYC US"/>
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        <balance>25602</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>181262.16</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BillionToOne Inc.</name>
        <lei>N/A</lei>
        <title>BILLIONTOONE INC COMMON STOCK USD.00001</title>
        <cusip>090168105</cusip>
        <identifiers>
          <isin value="US0901681058"/>
          <ticker value="BLLN US"/>
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        <balance>2903</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>237581.52</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bio-Rad Laboratories Inc.</name>
        <lei>549300ZC1GPV35XYDK53</lei>
        <title>BIO-RAD LABORATORIES INC COMMON STOCK USD.0001</title>
        <cusip>090572207</cusip>
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          <isin value="US0905722072"/>
          <ticker value="BIO US"/>
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        <balance>1144</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>346620.56</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bio-Techne Corporation</name>
        <lei>N/A</lei>
        <title>BIO-TECHNE CORP COMMON STOCK USD.01</title>
        <cusip>09073M104</cusip>
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          <isin value="US09073M1045"/>
          <ticker value="TECH US"/>
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        <balance>8921</balance>
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        <curCd>USD</curCd>
        <valUSD>524644.01</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Boston Scientific Corporation</name>
        <lei>Y6ZDD9FP4P8JSSJMW954</lei>
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        <cusip>101137107</cusip>
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          <isin value="US1011371077"/>
          <ticker value="BSX US"/>
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        <balance>41953</balance>
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        <curCd>USD</curCd>
        <valUSD>4000218.55</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BridgeBio Oncology Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>BRIDGEBIO ONCOLOGY THERAPEUTIC COMMON STOCK USD.0001</title>
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        <identifiers>
          <isin value="US1079241022"/>
          <ticker value="BBOT US"/>
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        <balance>14485</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>181352.2</valUSD>
        <pctVal>0.0736598464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BridgeBio Pharma Inc.</name>
        <lei>N/A</lei>
        <title>BRIDGEBIO PHARMA INC COMMON STOCK</title>
        <cusip>10806X102</cusip>
        <identifiers>
          <isin value="US10806X1028"/>
          <ticker value="BBIO US"/>
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        <balance>19233</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1471132.17</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BrightSpring Health Services Inc.</name>
        <lei>N/A</lei>
        <title>BRIGHTSPRING HEALTH SERVICES I COMMON STOCK USD100.0</title>
        <cusip>10950A106</cusip>
        <identifiers>
          <isin value="US10950A1060"/>
          <ticker value="BTSG US"/>
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        <balance>54101</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2026082.45</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>The Cigna Group</name>
        <lei>N/A</lei>
        <title>CIGNA GROUP/THE COMMON STOCK USD.01</title>
        <cusip>125523100</cusip>
        <identifiers>
          <isin value="US1255231003"/>
          <ticker value="CI US"/>
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        <balance>7243</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1993490.89</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CVS Health Corporation</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP COMMON STOCK USD.01</title>
        <cusip>126650100</cusip>
        <identifiers>
          <isin value="US1266501006"/>
          <ticker value="CVS US"/>
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        <balance>27194</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2158115.84</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cabaletta Bio Inc.</name>
        <lei>N/A</lei>
        <title>CABALETTA BIO INC COMMON STOCK USD.00001</title>
        <cusip>12674W109</cusip>
        <identifiers>
          <isin value="US12674W1099"/>
          <ticker value="CABA US"/>
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        <balance>2887</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6322.53</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cardinal Health Inc.</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>CARDINAL HEALTH INC COMMON STOCK</title>
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          <ticker value="CAH US"/>
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        <balance>7039</balance>
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        <curCd>USD</curCd>
        <valUSD>1446514.5</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Centessa Pharmaceuticals plc</name>
        <lei>N/A</lei>
        <title>CENTESSA PHARMACEUTICALS PLC ADR USD.0001</title>
        <cusip>152309100</cusip>
        <identifiers>
          <isin value="US1523091007"/>
          <ticker value="CNTA US"/>
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        <balance>49526</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1238645.26</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CG Oncology Inc.</name>
        <lei>N/A</lei>
        <title>CG ONCOLOGY INC COMMON STOCK</title>
        <cusip>156944100</cusip>
        <identifiers>
          <isin value="US1569441009"/>
          <ticker value="CGON US"/>
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        <balance>24016</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>997144.32</valUSD>
        <pctVal>0.4050102366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cogent Biosciences Inc.</name>
        <lei>N/A</lei>
        <title>COGENT BIOSCIENCES INC COMMON STOCK USD.001</title>
        <cusip>19240Q201</cusip>
        <identifiers>
          <isin value="US19240Q2012"/>
          <ticker value="COGT US"/>
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        <balance>7384</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>262279.68</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Crinetics Pharmaceuticals Inc.</name>
        <lei>N/A</lei>
        <title>CRINETICS PHARMACEUTICALS INC COMMON STOCK USD.001</title>
        <cusip>22663K107</cusip>
        <identifiers>
          <isin value="US22663K1079"/>
          <ticker value="CRNX US"/>
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        <balance>25383</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1181578.65</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cytokinetics Incorporated</name>
        <lei>549300BE5DY1HW7IHA64</lei>
        <title>CYTOKINETICS INC COMMON STOCK USD.001</title>
        <cusip>23282W605</cusip>
        <identifiers>
          <isin value="US23282W6057"/>
          <ticker value="CYTK US"/>
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        <balance>19157</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1217235.78</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Danaher Corporation</name>
        <lei>S4BKK9OTCEWQ3YHPFM11</lei>
        <title>DANAHER CORP COMMON STOCK USD.01</title>
        <cusip>235851102</cusip>
        <identifiers>
          <isin value="US2358511028"/>
          <ticker value="DHR US"/>
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        <balance>29560</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6766875.2</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Denali Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>DENALI THERAPEUTICS INC COMMON STOCK USD.01</title>
        <cusip>24823R105</cusip>
        <identifiers>
          <isin value="US24823R1059"/>
          <ticker value="DNLI US"/>
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        <balance>26925</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>444531.75</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Dianthus Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>DIANTHUS THERAPEUTICS INC COMMON STOCK USD.001</title>
        <cusip>252828108</cusip>
        <identifiers>
          <isin value="US2528281080"/>
          <ticker value="DNTH US"/>
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        <balance>4502</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>185527.42</valUSD>
        <pctVal>0.0753556960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Encompass Health Corporation</name>
        <lei>549300FVRPM9DRQZRG64</lei>
        <title>ENCOMPASS HEALTH CORP COMMON STOCK USD.01</title>
        <cusip>29261A100</cusip>
        <identifiers>
          <isin value="US29261A1007"/>
          <ticker value="EHC US"/>
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        <balance>3960</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>420314.4</valUSD>
        <pctVal>0.1707191538</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Entrada Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>ENTRADA THERAPEUTICS INC COMMON STOCK USD.0001</title>
        <cusip>29384C108</cusip>
        <identifiers>
          <isin value="US29384C1080"/>
          <ticker value="TRDA US"/>
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        <balance>11625</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>119505</valUSD>
        <pctVal>0.0485393612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Evommune Inc.</name>
        <lei>N/A</lei>
        <title>EVOMMUNE INC COMMON STOCK USD.0001</title>
        <cusip>30054Y107</cusip>
        <identifiers>
          <isin value="US30054Y1073"/>
          <ticker value="EVMN US"/>
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        <balance>5551</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>95033.12</valUSD>
        <pctVal>0.0385996146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Generation Bio Co.</name>
        <lei>N/A</lei>
        <title>GENERATION BIO CO COMMON STOCK USD.0001</title>
        <cusip>37148K209</cusip>
        <identifiers>
          <isin value="US37148K2096"/>
          <ticker value="GBIO US"/>
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        <balance>3769</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21407.92</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gilead Sciences Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILEAD SCIENCES INC COMMON STOCK USD.001</title>
        <cusip>375558103</cusip>
        <identifiers>
          <isin value="US3755581036"/>
          <ticker value="GILD US"/>
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        <balance>44553</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5468435.22</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ginkgo Bioworks Holdings Inc.</name>
        <lei>N/A</lei>
        <title>GINKGO BIOWORKS HOLDINGS INC COMMON STOCK USD.0001</title>
        <cusip>37611X209</cusip>
        <identifiers>
          <isin value="US37611X2099"/>
          <ticker value="DNA US"/>
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        <balance>1971</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16379.01</valUSD>
        <pctVal>0.0066526646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Crescent Biopharma Inc.</name>
        <lei>N/A</lei>
        <title>CRESCENT BIOPHARMA INC COMMON STOCK USD.001</title>
        <cusip>38000Q201</cusip>
        <identifiers>
          <isin value="KYG2545C1042"/>
          <ticker value="CBIO US"/>
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        <balance>5959</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>70673.74</valUSD>
        <pctVal>0.0287055621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Guardant Health Inc.</name>
        <lei>N/A</lei>
        <title>GUARDANT HEALTH INC COMMON STOCK USD.00001</title>
        <cusip>40131M109</cusip>
        <identifiers>
          <isin value="US40131M1099"/>
          <ticker value="GH US"/>
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        <balance>23103</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2359740.42</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HCA Healthcare Inc.</name>
        <lei>N/A</lei>
        <title>HCA HEALTHCARE INC COMMON STOCK USD.01</title>
        <cusip>40412C101</cusip>
        <identifiers>
          <isin value="US40412C1018"/>
          <ticker value="HCA US"/>
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        <balance>4931</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2302086.66</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Heartflow Inc.</name>
        <lei>N/A</lei>
        <title>HEARTFLOW INC COMMON STOCK USD.001</title>
        <cusip>42238D107</cusip>
        <identifiers>
          <isin value="US42238D1072"/>
          <ticker value="HTFL US"/>
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        <balance>9934</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>289576.1</valUSD>
        <pctVal>0.1176171617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hims and Hers Health Inc.</name>
        <lei>N/A</lei>
        <title>HIMS and HERS HEALTH INC COMMON STOCK USD.0001</title>
        <cusip>433000106</cusip>
        <identifiers>
          <isin value="US4330001060"/>
          <ticker value="HIMS US"/>
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        <balance>2300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>74681</valUSD>
        <pctVal>0.0303331914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IDEAYA Biosciences Inc.</name>
        <lei>N/A</lei>
        <title>IDEAYA BIOSCIENCES INC COMMON STOCK</title>
        <cusip>45166A102</cusip>
        <identifiers>
          <isin value="US45166A1025"/>
          <ticker value="IDYA US"/>
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        <balance>8167</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>282333.19</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IDEXX Laboratories Inc.</name>
        <lei>OGMTXK0LUU1HKV2P0J84</lei>
        <title>IDEXX LABORATORIES INC COMMON STOCK USD.1</title>
        <cusip>45168D104</cusip>
        <identifiers>
          <isin value="US45168D1046"/>
          <ticker value="IDXX US"/>
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        <balance>2828</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1913226.84</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Immuneering Corporation</name>
        <lei>N/A</lei>
        <title>IMMUNEERING CORP COMMON STOCK USD.001</title>
        <cusip>45254E107</cusip>
        <identifiers>
          <isin value="US45254E1073"/>
          <ticker value="IMRX US"/>
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        <balance>17357</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>114209.06</valUSD>
        <pctVal>0.0463883086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Immunome Inc.</name>
        <lei>N/A</lei>
        <title>IMMUNOME INC COMMON STOCK USD.0001</title>
        <cusip>45257U108</cusip>
        <identifiers>
          <isin value="US45257U1088"/>
          <ticker value="IMNM US"/>
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        <balance>50101</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1076169.48</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Immunocore Holdings plc</name>
        <lei>N/A</lei>
        <title>IMMUNOCORE HOLDINGS PLC ADR GBP.0001</title>
        <cusip>45258D105</cusip>
        <identifiers>
          <isin value="US45258D1054"/>
          <ticker value="IMCR US"/>
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        <balance>17786</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>617352.06</valUSD>
        <pctVal>0.2507499655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Immunocore Holdings plc</name>
        <lei>N/A</lei>
        <title>IMMUNOCORE HOLDINGS PLC SR UNSECURED 02/30 2.5</title>
        <cusip>45258DAB1</cusip>
        <identifiers>
          <isin value="US45258DAB10"/>
          <ticker value="IMCR"/>
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        <balance>277000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250338.75</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Immunocore Holdings PLC</name>
              <title>Immunocore Holdings PLC</title>
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                <isin value="US45258D1054"/>
                <ticker value="IMCR"/>
                <other otherDesc="BLOOMBERG" value="EQ0000000089216579"/>
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      <invstOrSec>
        <name>Immunovant Inc.</name>
        <lei>N/A</lei>
        <title>IMMUNOVANT INC COMMON STOCK USD.0001</title>
        <cusip>45258J102</cusip>
        <identifiers>
          <isin value="US45258J1025"/>
          <ticker value="IMVT US"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Incyte Corporation</name>
        <lei>549300Z4WN6JVZ3T4680</lei>
        <title>INCYTE CORP COMMON STOCK USD.001</title>
        <cusip>45337C102</cusip>
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          <isin value="US45337C1027"/>
          <ticker value="INCY US"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1286182.94</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Medline Inc.</name>
        <lei>N/A</lei>
        <title>MEDLINE INC COMMON STOCK USD.0001</title>
        <cusip>58507V107</cusip>
        <identifiers>
          <isin value="US58507V1070"/>
          <ticker value="MDLN US"/>
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        <balance>7732</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>324744</valUSD>
        <pctVal>0.1319013122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Merck and Co. Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK and CO INC COMMON STOCK USD.5</title>
        <cusip>58933Y105</cusip>
        <identifiers>
          <isin value="US58933Y1055"/>
          <ticker value="MRK US"/>
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        <balance>44300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4663018</valUSD>
        <pctVal>1.8939786201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mirum Pharmaceuticals Inc.</name>
        <lei>N/A</lei>
        <title>MIRUM PHARMACEUTICALS INC COMMON STOCK</title>
        <cusip>604749101</cusip>
        <identifiers>
          <isin value="US6047491013"/>
          <ticker value="MIRM US"/>
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        <balance>3100</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>244869</valUSD>
        <pctVal>0.0994584732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Molina Healthcare Inc.</name>
        <lei>549300NQQCEQ46YHZ591</lei>
        <title>MOLINA HEALTHCARE INC COMMON STOCK USD.001</title>
        <cusip>60855R100</cusip>
        <identifiers>
          <isin value="US60855R1005"/>
          <ticker value="MOH US"/>
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        <balance>2454</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>425867.16</valUSD>
        <pctVal>0.1729745191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Monte Rosa Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>MONTE ROSA THERAPEUTICS INC COMMON STOCK USD.0001</title>
        <cusip>61225M102</cusip>
        <identifiers>
          <isin value="US61225M1027"/>
          <ticker value="GLUE US"/>
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        <balance>31809</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>498765.12</valUSD>
        <pctVal>0.2025834929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MoonLake Immunotherapeutics</name>
        <lei>N/A</lei>
        <title>MOONLAKE IMMUNOTHERAPEUTICS COMMON STOCK USD.0001</title>
        <cusip>61559X104</cusip>
        <identifiers>
          <isin value="KY61559X1045"/>
          <ticker value="MLTX US"/>
        </identifiers>
        <balance>18575</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>244818.5</valUSD>
        <pctVal>0.0994379616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chugai Pharmaceutical Co. Ltd.</name>
        <lei>N/A</lei>
        <title>CHUGAI PHARMACEUTICAL CO LTD COMMON STOCK</title>
        <cusip>619640006</cusip>
        <identifiers>
          <isin value="JP3519400000"/>
          <ticker value="4519 JP"/>
        </identifiers>
        <balance>23400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="156.64"/>
        <valUSD>1227600.48</valUSD>
        <pctVal>0.4986146447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Natera Inc.</name>
        <lei>N/A</lei>
        <title>NATERA INC COMMON STOCK</title>
        <cusip>632307104</cusip>
        <identifiers>
          <isin value="US6323071042"/>
          <ticker value="NTRA US"/>
        </identifiers>
        <balance>12096</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2771072.64</valUSD>
        <pctVal>1.1255269302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Novo Nordisk A/S</name>
        <lei>549300DAQ1CVT6CXN342</lei>
        <title>NOVO NORDISK A/S ADR</title>
        <cusip>670100205</cusip>
        <identifiers>
          <isin value="US6701002056"/>
          <ticker value="NVO US"/>
        </identifiers>
        <balance>28400</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1444992</valUSD>
        <pctVal>0.5869125863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nuvalent Inc.</name>
        <lei>N/A</lei>
        <title>NUVALENT INC COMMON STOCK USD.0001</title>
        <cusip>670703107</cusip>
        <identifiers>
          <isin value="US6707031075"/>
          <ticker value="NUVL US"/>
        </identifiers>
        <balance>12356</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1242890.04</valUSD>
        <pctVal>0.5048248072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ionis Pharmaceuticals Inc.</name>
        <lei>549300SI4ZGLG0BLUZ92</lei>
        <title>IONIS PHARMACEUTICALS INC COMMON STOCK USD.001</title>
        <cusip>462222100</cusip>
        <identifiers>
          <isin value="US4622221004"/>
          <ticker value="IONS US"/>
        </identifiers>
        <balance>22738</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1798803.18</valUSD>
        <pctVal>0.7306201187</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Iovance Biotherapeutics Inc.</name>
        <lei>N/A</lei>
        <title>IOVANCE BIOTHERAPEUTICS INC COMMON STOCK USD.000041666</title>
        <cusip>462260100</cusip>
        <identifiers>
          <isin value="US4622601007"/>
          <ticker value="IOVA US"/>
        </identifiers>
        <balance>31687</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>86505.51</valUSD>
        <pctVal>0.0351359541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kodiak Sciences Inc.</name>
        <lei>N/A</lei>
        <title>KODIAK SCIENCES INC COMMON STOCK USD.0001</title>
        <cusip>50015M109</cusip>
        <identifiers>
          <isin value="US50015M1099"/>
          <ticker value="KOD US"/>
        </identifiers>
        <balance>17028</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>476102.88</valUSD>
        <pctVal>0.1933787679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Krystal Biotech Inc.</name>
        <lei>N/A</lei>
        <title>KRYSTAL BIOTECH INC COMMON STOCK USD.00001</title>
        <cusip>501147102</cusip>
        <identifiers>
          <isin value="US5011471027"/>
          <ticker value="KRYS US"/>
        </identifiers>
        <balance>7113</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1753639.02</valUSD>
        <pctVal>0.7122757860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kymera Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>KYMERA THERAPEUTICS INC COMMON STOCK USD.0001</title>
        <cusip>501575104</cusip>
        <identifiers>
          <isin value="US5015751044"/>
          <ticker value="KYMR US"/>
        </identifiers>
        <balance>26842</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2088576.02</valUSD>
        <pctVal>0.8483171904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kyverna Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>KYVERNA THERAPEUTICS INC COMMON STOCK USD.00001</title>
        <cusip>501976104</cusip>
        <identifiers>
          <isin value="US5019761049"/>
          <ticker value="KYTX US"/>
        </identifiers>
        <balance>32113</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>301862.2</valUSD>
        <pctVal>0.1226074086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LENZ Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>LENZ THERAPEUTICS INC COMMON STOCK USD.00001</title>
        <cusip>52635N103</cusip>
        <identifiers>
          <isin value="US52635N1037"/>
          <ticker value="LENZ US"/>
        </identifiers>
        <balance>3800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60800</valUSD>
        <pctVal>0.0246951438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eli Lilly and Company</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>ELI LILLY and CO COMMON STOCK</title>
        <cusip>532457108</cusip>
        <identifiers>
          <isin value="US5324571083"/>
          <ticker value="LLY US"/>
        </identifiers>
        <balance>28314</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30428489.52</valUSD>
        <pctVal>12.3591434975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MBX Biosciences Inc.</name>
        <lei>N/A</lei>
        <title>MBX BIOSCIENCES INC COMMON STOCK USD.0001</title>
        <cusip>55287L101</cusip>
        <identifiers>
          <isin value="US55287L1017"/>
          <ticker value="MBX US"/>
        </identifiers>
        <balance>14724</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>464394.96</valUSD>
        <pctVal>0.1886233606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Madrigal Pharmaceuticals Inc.</name>
        <lei>N/A</lei>
        <title>MADRIGAL PHARMACEUTICALS INC COMMON STOCK USD.0001</title>
        <cusip>558868105</cusip>
        <identifiers>
          <isin value="US5588681057"/>
          <ticker value="MDGL US"/>
        </identifiers>
        <balance>1506</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>877004.04</valUSD>
        <pctVal>0.3562128436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U C B SA</name>
        <lei>N/A</lei>
        <title>UCB SA COMMON STOCK</title>
        <cusip>559699905</cusip>
        <identifiers>
          <isin value="BE0003739530"/>
          <ticker value="UCB BB"/>
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        <balance>329</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.850919"/>
        <valUSD>91668.08</valUSD>
        <pctVal>0.0372328358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>McKesson Corporation</name>
        <lei>549300WZWOM80UCFSF54</lei>
        <title>MCKESSON CORP COMMON STOCK USD.01</title>
        <cusip>58155Q103</cusip>
        <identifiers>
          <isin value="US58155Q1031"/>
          <ticker value="MCK US"/>
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        <balance>730</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>598811.7</valUSD>
        <pctVal>0.2432194251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sartorius Aktiengesellschaft</name>
        <lei>N/A</lei>
        <title>SARTORIUS AG PREFERENCE</title>
        <cusip>584332902</cusip>
        <identifiers>
          <isin value="DE0007165631"/>
          <ticker value="SRT3 GR"/>
        </identifiers>
        <balance>2210</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.850919"/>
        <valUSD>636401.07</valUSD>
        <pctVal>0.2584871044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Wave Life Sciences Ltd.</name>
        <lei>54930070006GPKFYZ813</lei>
        <title>WAVE LIFE SCIENCES LTD COMMON STOCK</title>
        <cusip>Y95308105</cusip>
        <identifiers>
          <isin value="SG9999014716"/>
          <ticker value="WVE US"/>
        </identifiers>
        <balance>37722</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>641274</valUSD>
        <pctVal>0.2604663430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Revolution Medicines Inc.</name>
        <lei>N/A</lei>
        <title>REVOLUTION MEDICINES INC WARRANTS CALL EXP 17DEC26</title>
        <cusip>76155X118</cusip>
        <identifiers>
          <isin value="US76155X1182"/>
          <ticker value="RVMDW"/>
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        <balance>4502</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4231.43</valUSD>
        <pctVal>0.0017186805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rhythm Pharmaceuticals Inc.</name>
        <lei>N/A</lei>
        <title>RHYTHM PHARMACEUTICALS INC COMMON STOCK</title>
        <cusip>76243J105</cusip>
        <identifiers>
          <isin value="US76243J1051"/>
          <ticker value="RYTM US"/>
        </identifiers>
        <balance>7230</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>773899.2</valUSD>
        <pctVal>0.3143347375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rocket Pharmaceuticals Inc.</name>
        <lei>549300R7VV82YUIN4Y93</lei>
        <title>ROCKET PHARMACEUTICALS INC COMMON STOCK USD.01</title>
        <cusip>77313F106</cusip>
        <identifiers>
          <isin value="US77313F1066"/>
          <ticker value="RCKT US"/>
        </identifiers>
        <balance>23535</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>82607.85</valUSD>
        <pctVal>0.0335528410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Bank and Trust Company</name>
        <lei>571474TGEMMWANRLN572</lei>
        <title>SCC GOVERMENT MM GVXX 20301231 00001.0000000000</title>
        <cusip>7839989D1</cusip>
        <identifiers>
          <ticker value="7839989D1010"/>
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        <balance>412593.77</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>412593.77</valUSD>
        <pctVal>0.1675832646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sana Biotechnology Inc.</name>
        <lei>N/A</lei>
        <title>SANA BIOTECHNOLOGY INC COMMON STOCK USD.0001</title>
        <cusip>799566104</cusip>
        <identifiers>
          <isin value="US7995661045"/>
          <ticker value="SANA US"/>
        </identifiers>
        <balance>10300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41921</valUSD>
        <pctVal>0.0170270580</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Scholar Rock Holding Corporation</name>
        <lei>N/A</lei>
        <title>SCHOLAR ROCK HOLDING CORP COMMON STOCK USD.001</title>
        <cusip>80706P103</cusip>
        <identifiers>
          <isin value="US80706P1030"/>
          <ticker value="SRRK US"/>
        </identifiers>
        <balance>37255</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1641082.75</valUSD>
        <pctVal>0.6665587914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GeneDx Holdings Corp.</name>
        <lei>N/A</lei>
        <title>GENEDX HOLDINGS CORP GENEDX HOLDINGS CORP</title>
        <cusip>81663L119</cusip>
        <identifiers>
          <isin value="US81663L1199"/>
          <ticker value="WGSWW"/>
        </identifiers>
        <balance>4862</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>230.46</valUSD>
        <pctVal>0.0000936060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IQVIA Holdings Inc.</name>
        <lei>N/A</lei>
        <title>IQVIA HOLDINGS INC COMMON STOCK USD.01</title>
        <cusip>46266C105</cusip>
        <identifiers>
          <isin value="US46266C1053"/>
          <ticker value="IQV US"/>
        </identifiers>
        <balance>3750</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>845287.5</valUSD>
        <pctVal>0.3433305325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Janux Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>JANUX THERAPEUTICS INC COMMON STOCK USD.001</title>
        <cusip>47103J105</cusip>
        <identifiers>
          <isin value="US47103J1051"/>
          <ticker value="JANX US"/>
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        <balance>4213</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>58139.4</valUSD>
        <pctVal>0.0236144876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UroGen Pharma Ltd.</name>
        <lei>N/A</lei>
        <title>UROGEN PHARMA LTD COMMON STOCK USD.01</title>
        <cusip>M96088105</cusip>
        <identifiers>
          <isin value="IL0011407140"/>
          <ticker value="URGN US"/>
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        <balance>10800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>252936</valUSD>
        <pctVal>0.1027350476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Immatics N.V.</name>
        <lei>N/A</lei>
        <title>IMMATICS NV COMMON STOCK</title>
        <cusip>N44445109</cusip>
        <identifiers>
          <isin value="NL0015285941"/>
          <ticker value="IMTX US"/>
        </identifiers>
        <balance>14000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>147000</valUSD>
        <pctVal>0.0597070089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NewAmsterdam Pharma Company N.V.</name>
        <lei>N/A</lei>
        <title>NEWAMSTERDAM PHARMA CO NV COMMON STOCK</title>
        <cusip>N62509109</cusip>
        <identifiers>
          <isin value="NL00150012L7"/>
          <ticker value="NAMS US"/>
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        <balance>2900</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>101732</valUSD>
        <pctVal>0.0413204995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pharvaris N.V.</name>
        <lei>N/A</lei>
        <title>PHARVARIS NV COMMON STOCK EUR.12</title>
        <cusip>N69605108</cusip>
        <identifiers>
          <isin value="NL00150005Y4"/>
          <ticker value="PHVS US"/>
        </identifiers>
        <balance>17875</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>496031.25</valUSD>
        <pctVal>0.2014730765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>uniQure N.V.</name>
        <lei>N/A</lei>
        <title>UNIQURE NV COMMON STOCK EUR.05</title>
        <cusip>N90064101</cusip>
        <identifiers>
          <isin value="NL0010696654"/>
          <ticker value="QURE US"/>
        </identifiers>
        <balance>4127</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>98759.11</valUSD>
        <pctVal>0.0401130004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SomaLogic Inc.</name>
        <lei>N/A</lei>
        <title>SOMALOGIC INC WARRANTS CALL EXP 31AUG26</title>
        <cusip>83444K113</cusip>
        <identifiers>
          <isin value="US83444K1135"/>
          <ticker value="SLGCW"/>
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        <balance>2050</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>92</valUSD>
        <pctVal>0.0000373677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Stryker Corporation</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>STRYKER CORP COMMON STOCK USD.1</title>
        <cusip>863667101</cusip>
        <identifiers>
          <isin value="US8636671013"/>
          <ticker value="SYK US"/>
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        <balance>24775</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8707669.25</valUSD>
        <pctVal>3.5367951380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Structure Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>STRUCTURE THERAPEUTICS INC ADR USD.0001</title>
        <cusip>86366E106</cusip>
        <identifiers>
          <isin value="US86366E1064"/>
          <ticker value="GPCR US"/>
        </identifiers>
        <balance>23229</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1615576.95</valUSD>
        <pctVal>0.6561990973</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Summit Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>SUMMIT THERAPEUTICS INC COMMON STOCK USD.01</title>
        <cusip>86627T108</cusip>
        <identifiers>
          <isin value="US86627T1088"/>
          <ticker value="SMMT US"/>
        </identifiers>
        <balance>106991</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1871272.59</valUSD>
        <pctVal>0.7600550283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tarsus Pharmaceuticals Inc.</name>
        <lei>N/A</lei>
        <title>TARSUS PHARMACEUTICALS INC COMMON STOCK USD.0001</title>
        <cusip>87650L103</cusip>
        <identifiers>
          <isin value="US87650L1035"/>
          <ticker value="TARS US"/>
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        <balance>8928</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>731024.64</valUSD>
        <pctVal>0.2969203719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tenet Healthcare Corporation</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>TENET HEALTHCARE CORP COMMON STOCK USD.05</title>
        <cusip>88033G407</cusip>
        <identifiers>
          <isin value="US88033G4073"/>
          <ticker value="THC US"/>
        </identifiers>
        <balance>12583</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2500493.76</valUSD>
        <pctVal>1.0156258717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Terns Pharmaceuticals Inc.</name>
        <lei>N/A</lei>
        <title>TERNS PHARMACEUTICALS INC COMMON STOCK USD.0001</title>
        <cusip>880881107</cusip>
        <identifiers>
          <isin value="US8808811074"/>
          <ticker value="TERN US"/>
        </identifiers>
        <balance>9994</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>403757.6</valUSD>
        <pctVal>0.1639942763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Teva Pharmaceutical Industries Limited</name>
        <lei>549300BAFGM4RC74ZJ94</lei>
        <title>TEVA PHARMACEUTICAL INDUSTRIES ADR</title>
        <cusip>881624209</cusip>
        <identifiers>
          <isin value="US8816242098"/>
          <ticker value="TEVA US"/>
        </identifiers>
        <balance>16200</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>505602</valUSD>
        <pctVal>0.2053604293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Thermo Fisher Scientific Inc.</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>THERMO FISHER SCIENTIFIC INC COMMON STOCK USD1.0</title>
        <cusip>883556102</cusip>
        <identifiers>
          <isin value="US8835561023"/>
          <ticker value="TMO US"/>
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        <balance>18203</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10547728.35</valUSD>
        <pctVal>4.2841721790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ultragenyx Pharmaceutical Inc.</name>
        <lei>N/A</lei>
        <title>ULTRAGENYX PHARMACEUTICAL INC COMMON STOCK USD.001</title>
        <cusip>90400D108</cusip>
        <identifiers>
          <isin value="US90400D1081"/>
          <ticker value="RARE US"/>
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        <balance>12318</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>283314</valUSD>
        <pctVal>0.1150736838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United Therapeutics Corporation</name>
        <lei>N/A</lei>
        <title>UNITED THERAPEUTICS CORP COMMON STOCK USD.01</title>
        <cusip>91307C102</cusip>
        <identifiers>
          <isin value="US91307C1027"/>
          <ticker value="UTHR US"/>
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        <balance>4953</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2413349.25</valUSD>
        <pctVal>0.9802303749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UnitedHealth Group Incorporated</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP INC COMMON STOCK USD.01</title>
        <cusip>91324P102</cusip>
        <identifiers>
          <isin value="US91324P1021"/>
          <ticker value="UNH US"/>
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        <balance>24695</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8152066.45</valUSD>
        <pctVal>3.3111258773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vaxcyte Inc.</name>
        <lei>N/A</lei>
        <title>VAXCYTE INC COMMON STOCK USD.001</title>
        <cusip>92243G108</cusip>
        <identifiers>
          <isin value="US92243G1085"/>
          <ticker value="PCVX US"/>
        </identifiers>
        <balance>11005</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>507770.7</valUSD>
        <pctVal>0.2062412905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vera Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>VERA THERAPEUTICS INC COMMON STOCK USD.001</title>
        <cusip>92337R101</cusip>
        <identifiers>
          <isin value="US92337R1014"/>
          <ticker value="VERA US"/>
        </identifiers>
        <balance>43375</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2196510</valUSD>
        <pctVal>0.8921567489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vertex Pharmaceuticals Incorporated</name>
        <lei>54930015RAQRRZ5ZGJ91</lei>
        <title>VERTEX PHARMACEUTICALS INC COMMON STOCK USD.01</title>
        <cusip>92532F100</cusip>
        <identifiers>
          <isin value="US92532F1003"/>
          <ticker value="VRTX US"/>
        </identifiers>
        <balance>9444</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4281531.84</valUSD>
        <pctVal>1.7390303375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Viridian Therapeutics Inc.</name>
        <lei>N/A</lei>
        <title>VIRIDIAN THERAPEUTICS INC COMMON STOCK USD.01</title>
        <cusip>92790C104</cusip>
        <identifiers>
          <isin value="US92790C1045"/>
          <ticker value="VRDN US"/>
        </identifiers>
        <balance>16800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>522816</valUSD>
        <pctVal>0.2123522419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Voyager Therapeutics Inc.</name>
        <lei>54930082S4XVR0ZWCC74</lei>
        <title>VOYAGER THERAPEUTICS INC COMMON STOCK USD.001</title>
        <cusip>92915B106</cusip>
        <identifiers>
          <isin value="US92915B1061"/>
          <ticker value="VYGR US"/>
        </identifiers>
        <balance>15964</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>62738.52</valUSD>
        <pctVal>0.0254825127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Waters Corporation</name>
        <lei>5T547R1474YC9HOD8Q74</lei>
        <title>WATERS CORP COMMON STOCK USD.01</title>
        <cusip>941848103</cusip>
        <identifiers>
          <isin value="US9418481035"/>
          <ticker value="WAT US"/>
        </identifiers>
        <balance>1800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>683694</valUSD>
        <pctVal>0.2776960798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Xencor Inc.</name>
        <lei>549300V5IF65437JKG30</lei>
        <title>XENCOR INC COMMON STOCK USD.01</title>
        <cusip>98401F105</cusip>
        <identifiers>
          <isin value="US98401F1057"/>
          <ticker value="XNCR US"/>
        </identifiers>
        <balance>13179</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>201770.49</valUSD>
        <pctVal>0.0819531458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Xenon Pharmaceuticals Inc.</name>
        <lei>N/A</lei>
        <title>XENON PHARMACEUTICALS INC COMMON STOCK</title>
        <cusip>98420N105</cusip>
        <identifiers>
          <isin value="CA98420N1050"/>
          <ticker value="XENE US"/>
        </identifiers>
        <balance>2900</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>129978</valUSD>
        <pctVal>0.0527931810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zai Lab Limited</name>
        <lei>N/A</lei>
        <title>ZAI LAB LTD ADR USD.00006</title>
        <cusip>98887Q104</cusip>
        <identifiers>
          <isin value="US98887Q1040"/>
          <ticker value="ZLAB US"/>
        </identifiers>
        <balance>12926</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>228014.64</valUSD>
        <pctVal>0.0926127356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zoetis Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>ZOETIS INC COMMON STOCK USD.01</title>
        <cusip>98978V103</cusip>
        <identifiers>
          <isin value="US98978V1035"/>
          <ticker value="ZTS US"/>
        </identifiers>
        <balance>3100</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>390042</valUSD>
        <pctVal>0.1584234092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Saluda Medical Inc.</name>
        <lei>N/A</lei>
        <title>SALUDA MEDICAL INC CDI</title>
        <cusip>BRC373908</cusip>
        <identifiers>
          <isin value="AU0000432114"/>
          <ticker value="SLD AU"/>
        </identifiers>
        <balance>79512</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.498464"/>
        <valUSD>75613.83</valUSD>
        <pctVal>0.0307120790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BeOne Medicines Ltd</name>
        <lei>549300JFUK6FRD5MH739</lei>
        <title>BEONE MEDICINES LTD COMMON STOCK USD.0001</title>
        <cusip>BVDKGC900</cusip>
        <identifiers>
          <isin value="CH1391448177"/>
          <ticker value="6160 HK"/>
        </identifiers>
        <balance>140298</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.7827"/>
        <valUSD>3229137.43</valUSD>
        <pctVal>1.3115791648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sensorion</name>
        <lei>N/A</lei>
        <title>SENSORION SA COMMON STOCK EUR.1</title>
        <cusip>BWSW4N905</cusip>
        <identifiers>
          <isin value="FR0012596468"/>
          <ticker value="ALSEN FP"/>
        </identifiers>
        <balance>182870</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.850919"/>
        <valUSD>72100.19</valUSD>
        <pctVal>0.0292849434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deduction of sales loads and redemption fees, if applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-01-29</ncom:dateSigned>
      <ncom:nameOfApplicant>John Hancock Variable Insurance Trust</ncom:nameOfApplicant>
      <ncom:signature>/s/Salvatore Schiavone</ncom:signature>
      <ncom:signerName>Salvatore Schiavone</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
