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        <name>CVS Health Corp</name>
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        <name>CONTRA CHINOOK THERAPE</name>
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        <name>Codexis Inc</name>
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        <name>Corbus Pharmaceuticals Holdings Inc</name>
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        <name>Crinetics Pharmaceuticals Inc</name>
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        <name>Geron Corp</name>
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        <name>Gilead Sciences Inc</name>
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        <name>GRAIL Inc</name>
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      <invstOrSec>
        <name>Guardant Health Inc</name>
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      <invstOrSec>
        <name>Humana Inc</name>
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      <invstOrSec>
        <name>Ideaya Biosciences Inc</name>
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      <invstOrSec>
        <name>Immunovant Inc</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Immunic Inc</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Insmed Inc</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Inspire Medical Systems Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>InspireMD Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Insulet Corp</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Intuitive Surgical Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>IQVIA Holdings Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Krystal Biotech Inc</name>
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        <name>LENZ Therapeutics Inc</name>
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        <name>Eli Lilly &amp; Co</name>
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        <name>Willow Laboratories Inc.</name>
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        <name>McKesson Corp</name>
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        <name>Merck &amp; Co Inc</name>
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        <name>Molina Healthcare Inc</name>
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        <name>NeoGenomics Inc</name>
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        <name>Neurocrine Biosciences Inc</name>
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        <name>Nuvalent Inc</name>
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        <name>Personalis Inc</name>
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        <name>Praxis Precision Medicines Inc</name>
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        <name>Regeneron Pharmaceuticals Inc</name>
        <lei>549300RCBFWIRX3HYQ56</lei>
        <title>Regeneron Pharmaceuticals Inc</title>
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        <name>Structure Therapeutics Inc</name>
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        <name>Summit Therapeutics Inc</name>
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        <name>Tandem Diabetes Care Inc</name>
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        <name>Thermo Fisher Scientific Inc</name>
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      <invstOrSec>
        <name>GLYCOMINE, INC.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>SEISMIC THERAPEUTICS, INC.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>INVETX MILESTONE INTEREST</name>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HIBERCELL INC.</name>
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        <title>HIBERCELL INC.</title>
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          <other otherDesc="Internal Identifier" value="954UQL006"/>
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        <balance>5487525.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="WAR">
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              <counterpartyName>N/A</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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              <otherRefInst>
                <issuerName>HiberCell, Inc.</issuerName>
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      <invstOrSec>
        <name>ATALANTA THERAPEUTICS</name>
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        <title>ATALANTA THERAPEUTICS</title>
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        <balance>1777778.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>ARBOR BIOTECHNOLOGIES</name>
        <lei>N/A</lei>
        <title>ARBOR BIOTECHNOLOGIES</title>
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          <other otherDesc="Internal Identifier" value="954WEB007"/>
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        <balance>827250.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NUVIG THERAPEUTICS, INC</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal Identifier" value="954YPYII3"/>
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        <balance>1644892.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AVICEDA THERAPEUTICS</name>
        <lei>N/A</lei>
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        <balance>86599.00000000</balance>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IMMUNIC INC.</name>
        <lei>549300R5T12FW5MEQB20</lei>
        <title>IMMUNIC INC.</title>
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          <other otherDesc="Internal Identifier" value="955LFTII2"/>
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        <balance>5247245.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
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              <counterpartyName>N/A</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
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                <issuerName>Immunic Inc</issuerName>
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            <unrealizedAppr>0.00000000</unrealizedAppr>
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      <invstOrSec>
        <name>IMMUNIC INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <name>ABCURO INC.</name>
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        <name>CRYSTALYS THERAPEUTICS SER A</name>
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        <name>CURASEN THERAPEUTICS, INC.</name>
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      <invstOrSec>
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        <name>HOTSPOT THERAPEUTICS, INC.</name>
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      <invstOrSec>
        <name>IO LIGHT HOLDINIGS, INC.</name>
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        <fairValLevel>3</fairValLevel>
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        <name>PRIOTHERA LIMITED</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Xenon Pharmaceuticals Inc</name>
        <lei>549300XV44Q9Z1MIPQ03</lei>
        <title>Xenon Pharmaceuticals Inc</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Zoetis Inc</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis Inc</title>
        <cusip>98978V103</cusip>
        <identifiers>
          <isin value="US98978V1035"/>
        </identifiers>
        <balance>101117.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12722540.94000000</valUSD>
        <pctVal>1.090598208103</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>CURASEN THERAPEUTICS CONV PN</name>
        <lei>N/A</lei>
        <title>CURASEN THERAPEUTICS CONV PN</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="990AABSB1"/>
        </identifiers>
        <balance>1029194.96000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1029194.96000000</valUSD>
        <pctVal>0.088224371566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INCENDIA THERAPEUTICS, INC.</name>
        <lei>N/A</lei>
        <title>INCENDIA THERAPEUTICS, INC.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="990AASZC4"/>
        </identifiers>
        <balance>547370.44000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>547370.44000000</valUSD>
        <pctVal>0.046921540582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RECODE THERAPEUTICS, INC.</name>
        <lei>N/A</lei>
        <title>RECODE THERAPEUTICS, INC.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="990AAWHK7"/>
        </identifiers>
        <balance>161370.49000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>161370.49000000</valUSD>
        <pctVal>0.013832957430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERADERMICS, INC.</name>
        <lei>N/A</lei>
        <title>VERADERMICS, INC.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="990ABBLU5"/>
        </identifiers>
        <balance>2515130.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3199999.90000000</valUSD>
        <pctVal>0.274309524593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QLARIS BIO, INC.</name>
        <lei>N/A</lei>
        <title>QLARIS BIO, INC.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="990ABFWW0"/>
        </identifiers>
        <balance>426415.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>426415.00000000</valUSD>
        <pctVal>0.036553031120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HIBERCELL, INC. SERIES C</name>
        <lei>N/A</lei>
        <title>HIBERCELL, INC. SERIES C</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="ACI2JX2G1"/>
        </identifiers>
        <balance>1529261.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1.53000000</valUSD>
        <pctVal>0.000000131154</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>N/A</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>HiberCell, Inc.</issuerName>
                <issueTitle>HiberCell, Inc.</issueTitle>
                <identifiers>
                  <other otherDesc="Internal Identifier" value="902ATSII7"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>0.46360000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2028-09-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2747.32000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RECODE THERAPEUTICS, INC.</name>
        <lei>N/A</lei>
        <title>RECODE THERAPEUTICS, INC.</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="ACI30L2F7"/>
        </identifiers>
        <balance>161371.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="WAR">
            <counterparties>
              <counterpartyName>N/A</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Recode Therapeutics, Inc.</issuerName>
                <issueTitle>Recode Therapeutics, Inc.</issueTitle>
                <identifiers>
                  <other otherDesc="Internal Identifier" value="943HUY907"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>1.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2035-09-23</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>0.00000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Options Clearing Corp.</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>GRAIL INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Bloomberg Identifier" value="BBG01XTDZY85"/>
        </identifiers>
        <balance>-50.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-8750.00000000</valUSD>
        <pctVal>-0.00075006512</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing Corp.</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GRAIL, Inc.</issuerName>
                <issueTitle>GRAIL, Inc.</issueTitle>
                <identifiers>
                  <cusip value="384747101"/>
                  <isin value="US3847471014"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>100.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>14600.00000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICON PLC</name>
        <lei>6354008SRQGEMC4XFI67</lei>
        <title>ICON PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE0005711209"/>
        </identifiers>
        <balance>24686.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4498282.92000000</valUSD>
        <pctVal>0.385600589947</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jazz Pharmaceuticals PLC</name>
        <lei>635400GAUMJCLEZRRV50</lei>
        <title>Jazz Pharmaceuticals PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00B4Q5ZN47"/>
        </identifiers>
        <balance>47492.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8073640.00000000</valUSD>
        <pctVal>0.692086381045</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Medtronic PLC</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>Medtronic PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BTN1Y115"/>
        </identifiers>
        <balance>106833.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10262377.98000000</valUSD>
        <pctVal>0.879708785269</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oculis Holding AG</name>
        <lei>5067005370C2KK324336</lei>
        <title>Oculis Holding AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH1242303498"/>
        </identifiers>
        <balance>579536.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11573333.92000000</valUSD>
        <pctVal>0.992086195238</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>Newamsterdam Pharma Co NV</name>
        <lei>984500B6549TF6E14D36</lei>
        <title>Newamsterdam Pharma Co NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL00150012L7"/>
        </identifiers>
        <balance>334469.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11733172.52000000</valUSD>
        <pctVal>1.005787836410</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 NV</name>
        <lei>724500RPCTZLFYJZ3S98</lei>
        <title>uniQure NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0010696654"/>
        </identifiers>
        <balance>1516197.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36282594.21000000</valUSD>
        <pctVal>3.110206712431</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>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
      <explntrNote note="Conversion of Hibercell, Inc. convertible promissory note is dependent upon unknown future events therefore underlying reference instrument cannot be determined at this time." noteItem="C.9.f.iii"/>

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>abrdn Healthcare Investors</ncom:nameOfApplicant>
      <ncom:signature>Sharon Ferrari</ncom:signature>
      <ncom:signerName>Sharon Ferrari</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>