Schedule of Investments (unaudited)
September 30, 2024
BlackRock Health Sciences Term Trust (BMEZ)
(Percentages shown are based on Net Assets)

 
Security
 
 
Shares
Value
Common Stocks
Biotechnology — 46.1%
4D Molecular Therapeutics, Inc.(a)
 
109,215
$ 1,180,614
Abbisko Cayman Ltd.(a)
 
10,378,250
5,119,740
AC Immune SA(a)
 
781,685
2,954,769
Alkermes PLC(a)
 
190,629
5,335,706
Allogene Therapeutics, Inc.(a)
 
729,560
2,042,768
Alnylam Pharmaceuticals, Inc.(a)
 
262,673
72,242,955
Amgen, Inc.
 
139,746
45,027,559
Annexon, Inc.(a)
 
247,095
1,462,802
Antengene Corp. Ltd.(a)
 
5,019,274
502,232
Apellis Pharmaceuticals, Inc.(a)
 
53,391
1,539,796
Arcellx, Inc.(a)
 
140,300
11,716,453
Arcturus Therapeutics Holdings, Inc.(a)(b)
 
84,144
1,952,982
Arcus Biosciences, Inc.(a)
 
169,790
2,596,089
Argenx SE, ADR(a)
 
104,599
56,701,026
Arrowhead Pharmaceuticals, Inc.(a)
 
88,016
1,704,870
Ascendis Pharma A/S, ADR(a)
 
48,265
7,206,447
Autolus Therapeutics PLC, ADR(a)
 
795,718
2,888,456
Avidity Biosciences, Inc.(a)
 
124,955
5,739,183
Beam Therapeutics, Inc.(a)(b)
 
290,752
7,123,424
BeiGene Ltd., ADR(a)
 
74,469
16,719,035
Bicycle Therapeutics PLC, ADR(a)
 
91,006
2,059,466
Biogen, Inc.(a)
 
103,078
19,980,640
Biohaven Ltd.(a)
 
151,959
7,593,391
BioMarin Pharmaceutical, Inc.(a)
 
314,771
22,125,254
Biomea Fusion, Inc.(a)
 
151,908
1,534,271
BioNTech SE, ADR(a)
 
61,595
7,315,638
Black Diamond Therapeutics, Inc.(a)
 
866,005
3,767,122
Blueprint Medicines Corp.(a)
 
171,956
15,905,930
Bridgebio Pharma, Inc.(a)
 
176,043
4,482,055
Cabaletta Bio, Inc.(a)
 
526,112
2,483,249
CG oncology, Inc.(a)
 
59,173
2,232,597
Denali Therapeutics, Inc.(a)
 
511,840
14,909,899
Disc Medicine, Inc.(a)
 
48,054
2,361,374
Dyne Therapeutics, Inc.(a)
 
200,089
7,187,197
Everest Medicines Ltd.(a)
 
3,113,667
10,795,628
Exact Sciences Corp.(a)
 
215,339
14,668,893
Exelixis, Inc.(a)
 
622,655
16,157,897
Gilead Sciences, Inc.
 
176,216
14,773,949
Halozyme Therapeutics, Inc.(a)
 
171,850
9,836,694
Immatics NV(a)
 
278,934
3,182,637
Immunocore Holdings PLC, ADR(a)(b)
 
62,199
1,936,255
Immunocore Holdings PLC, Series C, ADR(a)
 
321,900
10,020,747
Incyte Corp.(a)
 
114,060
7,539,366
Insmed, Inc.(a)
 
300,764
21,955,772
Ionis Pharmaceuticals, Inc.(a)
 
173,321
6,943,239
Keros Therapeutics, Inc.(a)
 
81,039
4,705,935
Kyverna Therapeutics, Inc.(a)
 
50,458
246,740
Legend Biotech Corp., ADR(a)
 
72,722
3,543,743
Lexeo Therapeutics, Inc.(a)
 
28,330
256,103
MacroGenics, Inc.(a)
 
202,184
665,185
Merus NV(a)(b)
 
401,993
20,083,570
Monte Rosa Therapeutics, Inc.(a)
 
266,168
1,410,690
MoonLake Immunotherapeutics(a)
 
121,107
6,106,215
Natera, Inc.(a)
 
115,865
14,709,062
Neurocrine Biosciences, Inc.(a)
 
177,015
20,395,668
Neurogene, Inc.(a)(b)
 
326,877
13,715,759
Nurix Therapeutics, Inc.(a)
 
420,409
9,446,590
Nuvalent, Inc., Class A(a)
 
230,634
23,593,858
ORIC Pharmaceuticals, Inc.(a)
 
237,559
2,434,980
Perspective Therapeutics, Inc.(a)(b)
 
151,217
2,018,747
Security
 
 
Shares
Value
Biotechnology (continued)
Prime Medicine, Inc.(a)(b)
 
412,139
$ 1,594,978
Protagonist Therapeutics, Inc.(a)(b)
 
351,520
15,818,400
PTC Therapeutics, Inc.(a)
 
234,545
8,701,620
Regeneron Pharmaceuticals, Inc.(a)
 
8,856
9,309,781
REGENXBIO, Inc.(a)
 
111,333
1,167,883
Renagade Therapeutics, Series A-2(a)(c)
 
3,584,906
8,030,189
REVOLUTION Medicines, Inc.(a)
 
114,785
5,205,500
Rhythm Pharmaceuticals, Inc.(a)
 
630,459
33,029,747
Rocket Pharmaceuticals, Inc.(a)(b)
 
273,849
5,057,991
Roivant Sciences Ltd.(a)
 
899,035
10,374,864
RPHM Onkure Pipe(a)
 
199,004
212,935
Sage Therapeutics, Inc.(a)
 
253,320
1,828,970
Sagimet Biosciences, Inc., Class A(a)
 
408,120
1,130,492
Sarepta Therapeutics, Inc.(a)
 
228,161
28,495,027
Scholar Rock Holding Corp.(a)
 
115,917
928,495
Soleno Therapeutics, Inc.(a)
 
104,484
5,275,397
Stoke Therapeutics, Inc.(a)
 
530,092
6,514,831
Tenaya Therapeutics, Inc.(a)
 
291,391
562,385
TScan Therapeutics, Inc.(a)
 
1,045,767
5,207,920
Twist Bioscience Corp.(a)
 
138,215
6,244,554
Ultragenyx Pharmaceutical, Inc.(a)
 
120,654
6,702,330
United Therapeutics Corp.(a)
 
60,511
21,684,117
Vaxcyte, Inc.(a)
 
127,504
14,569,882
Vertex Pharmaceuticals, Inc.(a)
 
21,862
10,167,579
Vigil Neuroscience, Inc.(a)(b)
 
225,247
765,840
Viking Therapeutics, Inc.(a)
 
42,180
2,670,416
Voyager Therapeutics, Inc.(a)
 
363,321
2,125,428
Xenon Pharmaceuticals, Inc.(a)
 
456,329
17,965,673
Zealand Pharma A/S(a)
 
128,766
15,667,144
 
 
853,849,279
Capital Markets — 0.3%
Helix Acquisition Corp. II, Class A(a)
 
544,465
5,689,659
Health Care Equipment & Supplies — 16.4%
Align Technology, Inc.(a)
 
116,423
29,608,698
Becton Dickinson & Co.
 
42,593
10,269,172
Boston Scientific Corp.(a)
 
495,160
41,494,408
CONMED Corp.
 
106,689
7,673,073
Cooper Cos., Inc.(a)
 
104,912
11,575,990
Dexcom, Inc.(a)
 
63,439
4,252,951
Edwards Lifesciences Corp.(a)
 
178,676
11,790,829
GE HealthCare Technologies, Inc.(a)
 
118,855
11,154,542
Glaukos Corp.(a)
 
44,674
5,820,129
Hologic, Inc.(a)
 
211,412
17,221,622
Inari Medical, Inc.(a)
 
87,520
3,609,325
Inspire Medical Systems, Inc.(a)
 
89,190
18,823,549
Intuitive Surgical, Inc.(a)
 
136,836
67,223,422
Novocure Ltd.(a)
 
231,742
3,622,127
Nucleix Ltd., (Acquired 04/10/24, Cost:
$1,300,000)(a)(c)(d)
 
1,300
1,129,154
Nyxoah SA(a)(b)
 
648,041
6,188,792
Orchestra BioMed Holdings, Inc.(a)
 
233,344
1,199,388
Penumbra, Inc.(a)
 
62,727
12,188,483
STERIS PLC
 
47,732
11,576,919
Stryker Corp.
 
76,914
27,785,952
 
 
304,208,525
Health Care Providers & Services — 6.6%
Adicon Holdings Ltd.(a)
 
6,170,226
7,328,778
Chemed Corp.(b)
 
11,582
6,960,435
Elevance Health, Inc.
 
31,965
16,621,800
Encompass Health Corp.
 
164,829
15,929,075
Guardant Health, Inc.(a)
 
372,491
8,544,943
Schedule of Investments
1
Schedule of Investments (unaudited)(continued)
September 30, 2024
BlackRock Health Sciences Term Trust (BMEZ)
(Percentages shown are based on Net Assets)
Security
 
 
Shares
Value
Health Care Providers & Services (continued)
Molina Healthcare, Inc.(a)
 
77,120
$ 26,572,467
RadNet, Inc.(a)
 
66,127
4,588,552
UnitedHealth Group, Inc.
 
61,882
36,181,168
 
 
122,727,218
Life Sciences Tools & Services — 16.0%
10X Genomics, Inc., Class A(a)
 
231,935
5,237,092
Bio-Techne Corp.
 
451,301
36,072,489
Charles River Laboratories International, Inc.(a)
 
70,801
13,945,673
Danaher Corp.
 
89,673
24,930,887
Gerresheimer AG
 
128,733
11,490,785
ICON PLC(a)
 
34,778
9,992,067
Lonza Group AG, Registered Shares
 
24,791
15,731,952
Mettler-Toledo International, Inc.(a)
 
33,037
49,545,589
QIAGEN NV
 
302,727
13,795,269
Rapid Micro Biosystems, Inc., Class A(a)
 
571,184
508,354
Repligen Corp.(a)
 
218,335
32,492,615
Waters Corp.(a)
 
97,923
35,241,508
West Pharmaceutical Services, Inc.
 
161,486
48,471,638
 
 
297,455,918
Pharmaceuticals — 5.5%
Arvinas, Inc.(a)
 
253,060
6,232,868
Axsome Therapeutics, Inc.(a)
 
39,899
3,585,723
Catalent, Inc.(a)
 
83,755
5,073,040
Edgewise Therapeutics, Inc.(a)
 
136,782
3,650,712
Longboard Pharmaceuticals, Inc.(a)
 
161,636
5,387,328
Neumora Therapeutics, Inc.(a)
 
101,861
1,345,584
Nuvation Bio, Inc., Class A(a)
 
328,466
752,187
Roche Holding AG
 
121,893
39,007,851
Sanofi SA, ADR
 
501,791
28,918,215
Structure Therapeutics, Inc., ADR(a)(b)
 
66,435
2,915,832
Tarsus Pharmaceuticals, Inc.(a)
 
156,604
5,150,705
 
 
102,020,045
Total Common Stocks — 90.9%
(Cost: $1,530,654,231)
1,685,950,644
 
 
 
Par
(000)
 
Corporate Bonds
Health Care Equipment & Supplies — 0.1%
EXO Imaging, Inc., (Acquired: 07/24/24, Cost:
$640,450), 8.00%, 08/14/25(c)(d)
$
641
2,565,002
Security
 
Par
(000)
Value
Health Care Technology — 0.1%
Carbon Health Technologies, Inc.,
(Acquired: 02/27/24, Cost: $1,226,000), 12.00%,
02/28/26(c)(d)
$
1
$     1,331,546
Total Corporate Bonds — 0.2%
(Cost: $1,866,450)
3,896,548
 
 
 
Benefical
Interest (000)
 
Other Interests
Biotechnology(c)(d)(e) — 0.2%
Affinivax, Inc., (Acquired 08/18/22, Cost: $ —)
$
183
2,511,178
Amunix Pharmaceuticals, Inc., (Acquired 02/08/22,
Cost: $ —)
 
5,657
961,702
Total Other Interests — 0.2%
(Cost: $ — )
3,472,880
 
 
 
 
Shares
 
Preferred Securities
Preferred Stocks — 8.1%
Biotechnology(a)(c) — 3.6%
ABCURO, Series B
 
1,092,954
6,623,301
Bright Peak Therapeutics, Inc., Series B, (Acquired
05/14/21, Cost: $8,000,004)(d)
 
3,191,830
3,255,667
Cellarity, Inc., Series B, (Acquired 01/15/21, Cost:
$14,584,998)(d)
 
2,430,833
8,434,991
Genesis Therapeutics, Inc., Series B, (Acquired
08/10/23, Cost: $6,999,996)(d)
 
1,370,506
8,634,188
Goldfinch Bio, Inc., Series B, (Acquired 06/26/20,
Cost: $4,543,847)(d)
 
3,850,718
1,501,780
Kartos Therapeutics, Inc., Series C, (Acquired
08/22/23, Cost: $7,539,875)(d)
 
1,333,783
8,416,171
Laronde, Inc., Series B, (Acquired 07/28/21, Cost:
$13,498,156)(d)
 
482,077
13,498,156
Mirvie, Inc., Series B, (Acquired 10/15/21, Cost:
$6,250,000)(d)
 
2,793,833
5,196,529
NiKang Therapeutics, Inc., Series C, (Acquired
05/20/21, Cost: $7,999,996)(d)
 
1,394,189
4,935,429
OnKure, Inc., Series C, (Acquired 03/24/23, Cost:
$7,022,595)(d)
 
2,541,380
5,616,450
 
 
66,112,662
2
Schedule of Investments (unaudited)(continued)
September 30, 2024
BlackRock Health Sciences Term Trust (BMEZ)
(Percentages shown are based on Net Assets)
Security
 
 
Shares
Value
Health Care Equipment & Supplies(a)(c)(d) — 0.5%
Exo Imaging, Inc., Series C, (Acquired 06/24/21,
Cost: $13,225,003)
 
2,257,597
$ 4,447,466
Nucleix Ltd., Series AA, (Acquired 03/25/21, Cost:
$6,929,998)
 
2,379,480
5,020,703
Swift Health Systems, Inc., Series D, (Acquired
08/27/21, Cost: $6,441,930)
 
2,078,042
21
 
 
9,468,190
Health Care Providers & Services(c)(d) — 1.3%
Everly Well, Inc., Series D, (Acquired 11/25/20, Cost:
$9,999,986)(a)
 
382,775
3,552,152
Numab Therapeutics AG, Series C, (Acquired
05/07/21, Cost: $7,770,441)
 
815,851
11,268,740
Quanta Dialysis Technologies Ltd., Series D,
(Acquired 06/18/21, Cost: $14,071,890)(a)
 
115,766,240
8,976,875
 
 
23,797,767
Health Care Technology — 0.1%
Carbon Health Technologies, Inc., Series D2,
(Acquired 02/02/23, Cost: $17,100,000)(a)(c)(d)
 
1,694,781
1,406,668
Life Sciences Tools & Services — 0.7%
Sartorius AG
 
48,949
13,763,445
Pharmaceuticals(a)(c)(d) — 1.0%
Adarx Pharamaceuticals, Inc., Series C, (Acquired
08/02/23, Cost: $7,160,001)
 
860,577
7,745,193
Insitro, Inc.
 
Series B, (Acquired 05/21/20, Cost: $5,000,000)
 
802,478
8,321,697
Series C, (Acquired 03/10/21, Cost: $3,600,018)
 
196,818
2,041,003
 
 
18,107,893
Semiconductors & Semiconductor Equipment — 0.9%
PsiQuantum Corp., Series D, (Acquired 05/21/21,
Cost: $14,999,996)(a)(c)(d)
 
571,947
16,786,644
 
149,443,269
Total Preferred Securities — 8.1%
(Cost: $206,359,628)
149,443,269
Rights
Biotechnology(c) — 0.0%
Korro Bio, Inc., CVR(b)
 
180,175
135,131
Korro Bio, Inc., CVR
 
231,775
2
 
 
135,133
Health Care Equipment & Supplies — 0.0%
Abiomed, Inc., CVR(c)
 
98,636
159,790
Total Rights — 0.0%
(Cost: $226,731)
294,923
Warrants
Health Care Equipment & Supplies — 0.0%
Nucleix Ltd., (Acquired 04/10/24, Cost: $0), (Issued
04/10/24, Expires 04/10/34, Strike Price USD
3.35)(a)(c)(d)
 
1,552,563
232,884
Security
 
 
Shares
Value
Health Care Providers & Services — 0.0%
CareMax, Inc., (Issued/Exercisable 09/15/20, 1 Share
for 1 Warrant, Expires 08/06/26, Strike Price USD
11.50)(a)
 
63,808
$ 632
Pharmaceuticals — 0.0%
Nuvation Bio, Inc., (Issued/Exercisable 08/17/20,
1 Share for 1 Warrant, Expires 07/07/27, Strike
Price USD 11.50)(a)
 
68,880
6,743
Total Warrants — 0.0%
(Cost: $227,725)
240,259
Total Long-Term Investments — 99.4%
(Cost: $1,739,334,765)
1,843,298,523
Short-Term Securities
Money Market Funds — 3.8%
BlackRock Cash Funds: Institutional, SL Agency
Shares, 5.05%(f)(g)(h)
 
14,234,486
14,247,297
BlackRock Liquidity Funds, T-Fund, Institutional
Shares, 4.83%(f)(g)
 
56,451,696
56,451,696
Total Short-Term Securities — 3.8%
(Cost: $70,693,880)
70,698,993
Total Investments Before Options Written — 103.2%
(Cost: $1,810,028,645)
1,913,997,516
Options Written — (0.8)%
(Premiums Received: $(17,302,339))
(15,794,780
)
Total Investments, Net of Options Written — 102.4%
(Cost: $1,792,726,306)
1,898,202,736
Liabilities in Excess of Other Assets — (2.4)%
(43,820,622
)
Net Assets — 100.0%
$ 1,854,382,114
 
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan.
(c)
Security is valued using significant unobservable inputs and is classified as Level 3 in the
fair value hierarchy.
(d)
Restricted security as to resale, excluding 144A securities. The Trust held restricted
securities with a current value of $137,787,989, representing 7.4% of its net assets as of
period end, and an original cost of $185,905,180.
(e)
Other interests represent beneficial interests in liquidation trusts and other reorganization
or private entities.
(f)
Affiliate of the Trust.
(g)
Annualized 7-day yield as of period end.
(h)
All or a portion of this security was purchased with the cash collateral from loaned
securities.
For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Trust for compliance purposes.
Schedule of Investments
3
Schedule of Investments (unaudited)(continued)
September 30, 2024
BlackRock Health Sciences Term Trust (BMEZ)
 
Affiliates
Investments in issuers considered to be affiliate(s) of the Trust during the period ended September 30, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: 
Affiliated Issuer
Value at
12/31/23
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain (Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
09/30/24
Shares
Held at
09/30/24
Income
Capital Gain
Distributions
from
Underlying
Funds
BlackRock Cash Funds: Institutional, SL Agency
Shares
$ —
$ 14,241,375
(a)
$ —
$ 809
$ 5,113
$ 14,247,297
14,234,486
$ 39,788
(b)
$ —
BlackRock Liquidity Funds, T-Fund, Institutional
Shares
40,473,813
15,977,883
(a)
—
—
—
56,451,696
56,451,696
1,864,386
—
SL Liquidity Series, LLC, Money Market Series(c)
12,308,246
—
(12,309,250
)(a)
424
580
—
—
29,603
(b)
—
 
$ 1,233
$ 5,693
$ 70,698,993
$ 1,933,777
$ —
 
(a)
Represents net amount purchased (sold).
(b)
All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other
payments to and from borrowers of securities.
(c)
As of period end, the entity is no longer held.
Derivative Financial Instruments Outstanding as of Period End
Exchange-Traded Options Written 
Description
Number of
Contracts
Expiration
Date
Exercise Price
Notional
Amount (000)
Value
Call 
 
 
Amgen, Inc.
143
10/04/24
USD
335.00
USD
4,608
$ (6,578
)
Danaher Corp.
101
10/04/24
USD
275.00
USD
2,808
(46,965
)
Intuitive Surgical, Inc.
88
10/04/24
USD
500.00
USD
4,323
(16,060
)
Sarepta Therapeutics, Inc.
174
10/04/24
USD
145.00
USD
2,173
(26,100
)
UnitedHealth Group, Inc.
63
10/04/24
USD
590.00
USD
3,683
(24,098
)
GE HealthCare Technologies, Inc.
182
10/11/24
USD
87.00
USD
1,708
(129,220
)
Intuitive Surgical, Inc.
166
10/11/24
USD
485.00
USD
8,155
(188,410
)
Vertex Pharmaceuticals, Inc.
52
10/11/24
USD
485.00
USD
2,418
(4,030
)
10X Genomics, Inc., Class A
742
10/18/24
USD
25.00
USD
1,675
(44,520
)
Align Technology, Inc.
106
10/18/24
USD
260.00
USD
2,696
(75,790
)
Alnylam Pharmaceuticals, Inc.
443
10/18/24
USD
272.00
USD
12,184
(500,404
)
Amgen, Inc.
304
10/18/24
USD
335.00
USD
9,795
(60,800
)
Arcturus Therapeutics Holdings, Inc.
129
10/18/24
USD
25.74
USD
299
(8,170
)
Arcturus Therapeutics Holdings, Inc.
140
10/18/24
USD
22.50
USD
325
(30,100
)
Argenx SE, ADR
160
10/18/24
USD
540.00
USD
8,673
(248,000
)
Arvinas, Inc.
400
10/18/24
USD
30.00
USD
985
(15,000
)
Avidity Biosciences, Inc.
382
10/18/24
USD
50.00
USD
1,755
(68,760
)
Becton Dickinson & Co.
63
10/18/24
USD
240.00
USD
1,519
(33,075
)
BeiGene Ltd., ADR
227
10/18/24
USD
190.00
USD
5,096
(804,715
)
Bicycle Therapeutics PLC, ADR
145
10/18/24
USD
25.00
USD
328
(15,225
)
Biogen, Inc.
109
10/18/24
USD
210.00
USD
2,113
(8,993
)
Biohaven Ltd.
136
10/18/24
USD
45.00
USD
680
(82,960
)
Biohaven Ltd.
329
10/18/24
USD
50.00
USD
1,644
(102,812
)
BioMarin Pharmaceutical, Inc.
760
10/18/24
USD
90.00
USD
5,342
(19,000
)
BioNTech SE, ADR
188
10/18/24
USD
125.00
USD
2,233
(36,190
)
Bio-Techne Corp.
524
10/18/24
USD
75.00
USD
4,188
(361,560
)
Blueprint Medicines Corp.
530
10/18/24
USD
100.00
USD
4,903
(62,275
)
Bridgebio Pharma, Inc.
563
10/18/24
USD
30.00
USD
1,433
(11,260
)
Charles River Laboratories International, Inc.
45
10/18/24
USD
209.02
USD
886
(10,604
)
CONMED Corp.
157
10/18/24
USD
70.00
USD
1,129
(69,865
)
Cooper Cos., Inc.
323
10/18/24
USD
105.00
USD
3,564
(197,030
)
Danaher Corp.
83
10/18/24
USD
280.00
USD
2,308
(38,180
)
Dexcom, Inc.
29
10/18/24
USD
80.01
USD
194
(564
)
Dyne Therapeutics, Inc.
612
10/18/24
USD
40.00
USD
2,198
(44,370
)
Edwards Lifesciences Corp.
286
10/18/24
USD
70.00
USD
1,887
(13,585
)
Elevance Health, Inc.
74
10/18/24
USD
550.00
USD
3,848
(24,420
)
Exact Sciences Corp.
179
10/18/24
USD
75.00
USD
1,219
(10,293
)
4
Schedule of Investments (unaudited)(continued)
September 30, 2024
BlackRock Health Sciences Term Trust (BMEZ)
 
Exchange-Traded Options Written (continued)
Description
Number of
Contracts
Expiration
Date
Exercise Price
Notional
Amount (000)
Value
Call (continued)
 
 
Exelixis, Inc.
957
10/18/24
USD
28.83
USD
2,483
$ (19,903
)
Glaukos Corp.
136
10/18/24
USD
130.00
USD
1,772
(70,040
)
Guardant Health, Inc.
548
10/18/24
USD
35.00
USD
1,257
(8,220
)
Hologic, Inc.
647
10/18/24
USD
82.50
USD
5,270
(85,727
)
ICON PLC
55
10/18/24
USD
330.00
USD
1,580
(6,600
)
Incyte Corp.
228
10/18/24
USD
62.85
USD
1,507
(108,778
)
Insmed, Inc.
920
10/18/24
USD
80.00
USD
6,716
(151,800
)
Inspire Medical Systems, Inc.
143
10/18/24
USD
210.00
USD
3,018
(148,720
)
Intuitive Surgical, Inc.
79
10/18/24
USD
510.00
USD
3,881
(65,570
)
Ionis Pharmaceuticals, Inc.
529
10/18/24
USD
47.50
USD
2,119
(18,515
)
Keros Therapeutics, Inc.
248
10/18/24
USD
50.00
USD
1,440
(219,480
)
Legend Biotech Corp., ADR
505
10/18/24
USD
61.10
USD
2,461
(28,941
)
Merus NV
615
10/18/24
USD
52.54
USD
3,073
(76,492
)
Mettler-Toledo International, Inc.
50
10/18/24
USD
1,500.00
USD
7,499
(185,000
)
Molina Healthcare, Inc.
118
10/18/24
USD
350.55
USD
4,066
(83,089
)
Neurocrine Biosciences, Inc.
320
10/18/24
USD
155.00
USD
3,687
(24,000
)
Nurix Therapeutics, Inc.
144
10/18/24
USD
30.00
USD
324
(4,680
)
Nuvalent, Inc., Class A
296
10/18/24
USD
80.00
USD
3,028
(664,520
)
Penumbra, Inc.
95
10/18/24
USD
190.00
USD
1,846
(93,575
)
PTC Therapeutics, Inc.
340
10/18/24
USD
34.50
USD
1,261
(147,121
)
QIAGEN NV
998
10/18/24
USD
46.35
USD
4,548
(95,453
)
RadNet, Inc.
202
10/18/24
USD
70.00
USD
1,402
(41,410
)
Repligen Corp.
393
10/18/24
USD
166.00
USD
5,849
(63,895
)
REVOLUTION Medicines, Inc.
290
10/18/24
USD
45.00
USD
1,315
(72,500
)
REVOLUTION Medicines, Inc.
62
10/18/24
USD
48.00
USD
281
(8,680
)
Rhythm Pharmaceuticals, Inc.
1,012
10/18/24
USD
50.00
USD
5,302
(341,550
)
Rocket Pharmaceuticals, Inc.
403
10/18/24
USD
20.00
USD
744
(30,225
)
Sanofi SA, ADR
458
10/18/24
USD
55.00
USD
2,639
(144,270
)
Soleno Therapeutics, Inc.
153
10/18/24
USD
50.00
USD
772
(36,337
)
STERIS PLC
70
10/18/24
USD
230.00
USD
1,698
(99,400
)
Structure Therapeutics, Inc., ADR
106
10/18/24
USD
45.00
USD
465
(23,055
)
Stryker Corp.
72
10/18/24
USD
338.00
USD
2,601
(177,034
)
Twist Bioscience Corp.
208
10/18/24
USD
50.00
USD
940
(56,160
)
United Therapeutics Corp.
94
10/18/24
USD
340.00
USD
3,368
(199,280
)
UnitedHealth Group, Inc.
63
10/18/24
USD
580.00
USD
3,683
(127,417
)
Vaxcyte, Inc.
390
10/18/24
USD
120.00
USD
4,457
(49,725
)
Vertex Pharmaceuticals, Inc.
14
10/18/24
USD
500.00
USD
651
(1,050
)
Viking Therapeutics, Inc.
134
10/18/24
USD
75.00
USD
848
(13,735
)
Waters Corp.
144
10/18/24
USD
340.00
USD
5,182
(334,080
)
West Pharmaceutical Services, Inc.
119
10/18/24
USD
308.00
USD
3,572
(63,205
)
Xenon Pharmaceuticals, Inc.
519
10/18/24
USD
40.00
USD
2,043
(197,220
)
Biogen, Inc.
93
10/25/24
USD
205.00
USD
1,803
(33,712
)
Boston Scientific Corp.
1,515
10/25/24
USD
84.00
USD
12,696
(333,300
)
Dexcom, Inc.
29
10/25/24
USD
76.00
USD
194
(5,800
)
GE HealthCare Technologies, Inc.
181
10/25/24
USD
87.00
USD
1,699
(142,085
)
Regeneron Pharmaceuticals, Inc.
39
10/25/24
USD
1,190.00
USD
4,100
(11,603
)
Align Technology, Inc.
147
11/01/24
USD
270.00
USD
3,739
(178,605
)
Danaher Corp.
90
11/01/24
USD
275.00
USD
2,502
(103,950
)
Dexcom, Inc.
136
11/01/24
USD
79.00
USD
912
(21,760
)
Gilead Sciences, Inc.
269
11/01/24
USD
87.00
USD
2,255
(24,345
)
UnitedHealth Group, Inc.
63
11/01/24
USD
590.00
USD
3,683
(119,542
)
Align Technology, Inc.
110
11/15/24
USD
260.00
USD
2,798
(201,850
)
Alnylam Pharmaceuticals, Inc.
361
11/15/24
USD
280.00
USD
9,929
(487,350
)
Argenx SE, ADR
160
11/15/24
USD
550.00
USD
8,673
(408,000
)
Arvinas, Inc.
374
11/15/24
USD
30.00
USD
921
(35,530
)
Beam Therapeutics, Inc.
889
11/15/24
USD
29.00
USD
2,178
(84,455
)
Becton Dickinson & Co.
67
11/15/24
USD
240.00
USD
1,615
(62,980
)
Biogen, Inc.
127
11/15/24
USD
205.00
USD
2,462
(72,390
)
BioMarin Pharmaceutical, Inc.
250
11/15/24
USD
75.00
USD
1,757
(35,625
)
Bio-Techne Corp.
857
11/15/24
USD
85.00
USD
6,850
(239,960
)
Charles River Laboratories International, Inc.
171
11/15/24
USD
220.00
USD
3,368
(70,965
)
CONMED Corp.
169
11/15/24
USD
80.00
USD
1,215
(36,335
)
Schedule of Investments
5
Schedule of Investments (unaudited)(continued)
September 30, 2024
BlackRock Health Sciences Term Trust (BMEZ)
 
Exchange-Traded Options Written (continued)
Description
Number of
Contracts
Expiration
Date
Exercise Price
Notional
Amount (000)
Value
Call (continued)
 
 
Edwards Lifesciences Corp.
286
11/15/24
USD
72.50
USD
1,887
$ (49,335
)
Elevance Health, Inc.
28
11/15/24
USD
550.00
USD
1,456
(26,460
)
Encompass Health Corp.
242
11/15/24
USD
100.00
USD
2,339
(50,820
)
Exact Sciences Corp.
466
11/15/24
USD
75.00
USD
3,174
(124,655
)
Exelixis, Inc.
1,035
11/15/24
USD
30.00
USD
2,686
(46,575
)
Gilead Sciences, Inc.
269
11/15/24
USD
87.50
USD
2,255
(48,420
)
Guardant Health, Inc.
592
11/15/24
USD
28.00
USD
1,358
(37,000
)
ICON PLC
51
11/15/24
USD
320.00
USD
1,465
(17,723
)
Incyte Corp.
136
11/15/24
USD
67.50
USD
899
(37,060
)
Inspire Medical Systems, Inc.
142
11/15/24
USD
220.00
USD
2,997
(228,620
)
Merus NV
615
11/15/24
USD
53.04
USD
3,073
(144,139
)
Mettler-Toledo International, Inc.
51
11/15/24
USD
1,460.00
USD
7,648
(494,190
)
Molina Healthcare, Inc.
118
11/15/24
USD
360.00
USD
4,066
(164,020
)
Natera, Inc.
355
11/15/24
USD
130.00
USD
4,507
(339,025
)
Neurocrine Biosciences, Inc.
221
11/15/24
USD
130.00
USD
2,546
(24,863
)
Nuvalent, Inc., Class A
409
11/15/24
USD
110.00
USD
4,184
(123,722
)
Penumbra, Inc.
96
11/15/24
USD
220.00
USD
1,865
(47,520
)
PTC Therapeutics, Inc.
377
11/15/24
USD
37.00
USD
1,399
(143,260
)
Regeneron Pharmaceuticals, Inc.
1
11/15/24
USD
1,100.00
USD
105
(2,920
)
Repligen Corp.
275
11/15/24
USD
150.00
USD
4,093
(327,250
)
Rhythm Pharmaceuticals, Inc.
917
11/15/24
USD
55.00
USD
4,804
(265,930
)
Rocket Pharmaceuticals, Inc.
435
11/15/24
USD
24.29
USD
803
(42,367
)
Sanofi SA, ADR
1,077
11/15/24
USD
60.71
USD
6,207
(120,006
)
Soleno Therapeutics, Inc.
167
11/15/24
USD
55.00
USD
843
(51,352
)
STERIS PLC
76
11/15/24
USD
243.50
USD
1,843
(58,432
)
Structure Therapeutics, Inc., ADR
106
11/15/24
USD
45.00
USD
465
(49,820
)
Stryker Corp.
163
11/15/24
USD
370.00
USD
5,889
(149,145
)
Tarsus Pharmaceuticals, Inc.
479
11/15/24
USD
35.00
USD
1,575
(160,465
)
Twist Bioscience Corp.
225
11/15/24
USD
55.00
USD
1,017
(38,812
)
Ultragenyx Pharmaceutical, Inc.
378
11/15/24
USD
60.00
USD
2,100
(129,465
)
United Therapeutics Corp.
91
11/15/24
USD
360.00
USD
3,261
(152,880
)
Waters Corp.
155
11/15/24
USD
350.00
USD
5,578
(384,400
)
West Pharmaceutical Services, Inc.
375
11/15/24
USD
340.00
USD
11,256
(210,000
)
Xenon Pharmaceuticals, Inc.
438
11/15/24
USD
42.50
USD
1,724
(68,985
)
Encompass Health Corp.
131
12/20/24
USD
100.00
USD
1,266
(35,697
)
 
 
 
$ (14,931,908
)
OTC Options Written 
Description
Counterparty
Number of
Contracts
Expiration
Date
Exercise Price
Notional
Amount (000)
Value
Call 
 
 
 
 
 
Gerresheimer AG
Morgan Stanley & Co. International PLC
20,000
10/08/24
EUR
97.25
EUR
1,604
$ (152
)
Zealand Pharma A/S
Goldman Sachs International
26,900
10/08/24
DKK
917.46
DKK
21,918
(1,604
)
Denali Therapeutics, Inc.
Morgan Stanley & Co. International PLC
78,300
10/18/24
USD
32.40
USD
2,281
(38,326
)
Halozyme Therapeutics, Inc.
Citibank N.A.
26,200
10/18/24
USD
62.73
USD
1,500
(6,320
)
Lonza Group AG, Registered Shares
Citibank N.A.
7,700
10/22/24
CHF
550.80
CHF
4,136
(49,852
)
Sartorius AG, Preference Shares
BNP Paribas SA
15,300
10/23/24
EUR
247.00
EUR
3,865
(314,378
)
Halozyme Therapeutics, Inc.
Citibank N.A.
26,300
11/01/24
USD
63.35
USD
1,505
(13,011
)
Denali Therapeutics, Inc.
Morgan Stanley & Co. International PLC
78,300
11/05/24
USD
33.33
USD
2,281
(82,540
)
Encompass Health Corp.
Citibank N.A.
14,200
11/05/24
USD
92.31
USD
1,372
(93,614
)
Gerresheimer AG
BNP Paribas SA
14,900
11/07/24
EUR
111.51
EUR
1,195
(703
)
Roche Holding AG
Goldman Sachs International
38,400
11/07/24
CHF
274.48
CHF
10,401
(241,145
)
Gerresheimer AG
Bank of America N.A.
15,000
11/12/24
EUR
100.88
EUR
1,203
(4,152
)
Zealand Pharma A/S
Goldman Sachs International
25,300
11/12/24
DKK
992.04
DKK
20,614
(17,075
)
 
 
 
 
 
 
$ (862,872
)
6
Schedule of Investments (unaudited)(continued)
September 30, 2024
BlackRock Health Sciences Term Trust (BMEZ)
 
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows: 
• Level 1 – Unadjusted price quotations in active markets/exchanges that the Trust has the ability to access for identical, unrestricted assets or liabilities;
• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and
• Level 3 – Inputs that are unobservable and significant to the  entire fair value measurement for the asset or liability (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy.  In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy.  The breakdown of the Trust’s financial instruments into major categories is disclosed in the Schedule of Investments above. 
 
Level 1
Level 2
Level 3
Total
Assets
Investments 
Long-Term Investments 
Common Stocks 
Biotechnology
$ 813,521,411
$ 32,297,679
$ 8,030,189
$ 853,849,279
Capital Markets
5,689,659
—
—
5,689,659
Health Care Equipment & Supplies
303,079,371
—
1,129,154
304,208,525
Health Care Providers & Services
115,398,440
7,328,778
—
122,727,218
Life Sciences Tools & Services
270,233,181
27,222,737
—
297,455,918
Pharmaceuticals
63,012,194
39,007,851
—
102,020,045
Corporate Bonds
—
—
3,896,548
3,896,548
Other Interests
—
—
3,472,880
3,472,880
Preferred Securities
Preferred Stocks
—
13,763,445
135,679,824
149,443,269
Rights
—
—
294,923
294,923
Warrants
7,375
—
232,884
240,259
Short-Term Securities 
Money Market Funds
70,698,993
—
—
70,698,993
 
$1,641,640,624
$119,620,490
$152,736,402
$1,913,997,516
Derivative Financial Instruments(a)
Liabilities 
Equity Contracts
$ (13,183,311
)
$ (2,611,469
)
$ —
$ (15,794,780
)
 
(a)
Derivative financial instruments are options written. Options written are shown at value.
A reconciliation of Level 3 financial instruments is presented when the Trust had a significant amount of Level 3 investments and derivative financial instruments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value: 
 
Common
Stocks
Corporate
Bonds
Other
Interests
Preferred
Stocks
Rights
Warrants
Total
Assets
Opening balance, as of December 31, 2023
$ —
$ —
$ 4,664,318
$ 143,543,684
$ 268,290
$ —
$ 148,476,292
Transfers into Level 3
—
—
—
—
3,152
—
3,152
Transfers out of Level 3
—
—
—
—
—
—
—
Accrued discounts/premiums
—
—
—
—
—
—
—
Net realized gain (loss)
—
—
—
—
4,394
—
4,394
Net change in unrealized appreciation (depreciation)(a)
(140,656
)
2,030,098
(1,191,438
)
(7,863,860
)
(102,641
)
232,884
(7,035,613
)
Schedule of Investments
7
Schedule of Investments (unaudited)(continued)
September 30, 2024
BlackRock Health Sciences Term Trust (BMEZ)
 
 
Common
Stocks
Corporate
Bonds
Other
Interests
Preferred
Stocks
Rights
Warrants
Total
Purchases
$ 9,299,999
$ 1,866,450
$ —
$ —
$ 126,122
$ —
$ 11,292,571
Sales
—
—
—
—
(4,394
)
—
(4,394
)
Closing balance, as of September 30, 2024
$ 9,159,343
$ 3,896,548
$ 3,472,880
$ 135,679,824
$ 294,923
$ 232,884
$ 152,736,402
Net change in unrealized appreciation (depreciation) on investments still held at
September 30, 2024(a)
$ (140,656
)
$ 2,030,098
$ (1,191,438
)
$ (7,863,860
)
$ (102,641
)
$ 232,884
$ (7,035,613
)
 
(a)
Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at September 30, 2024 is
generally due to investments no longer held or categorized as Level 3 at period end.
The following table summarizes the valuation approaches used and unobservable inputs utilized by the BlackRock Valuation Committee (the “Valuation Committee”) to determine the value of certain of the Trust’s Level 3 financial instruments as of period end. The table does not include Level 3 financial instruments with values based upon unadjusted third-party pricing information in the amount of $23. A significant change in third party information could result in a significantly lower or higher value of such Level 3 financial instruments. 
 
Value
Valuation
Approach
Unobservable
Inputs
Range of
Unobservable
Inputs
Utilized(a)
Weighted
Average of
Unobservable
Inputs Based
on Fair Value
Assets
 
 
 
 
Preferred Stocks
$135,679,803
Market
Revenue Multiple
1.30x - 4.00x
5.25x
 
 
Volatility
50% -100%
75%
 
 
Time to Exit
0.3- 4.0 years
2.4 years
 
 
Market Adjustment Multiple
0.86x - 1.30x
0.95x
 
Income
Discount Rate
5%
—
 
 
 
 
 
Common Stocks
9,159,343
Market
Volatility
60%-80%
78%
 
 
Time to Exit
1.5 -3.0 years
2.8 years
 
 
Market Adjustment Multiple
0.85x -1.00x
0.98x
 
 
 
 
 
Corporate Bonds
3,896,548
Market
Revenue Multiple
1.30x - 6.70x
4.85x
 
 
Volatility
90% -95%
93%
 
 
Time to Exit
0.5- 1.0 years
0.8 years
 
 
 
 
 
Other Interests
3,472,880
Income
Discount Rate
5% -5%
5%
 
 
 
 
 
Rights
294,921
Income
Discount Rate
4% -5%
5%
 
 
 
 
 
Warrants
232,884
Market
Volatility
60%
—
 
 
Time to Exit
1.5 years
—
 
 
Market Adjustment Multiple
0.85x
—
 
 
 
 
 
 
$152,736,379
 
 
 
 
 
(a)
A significant change in unobservable input would have resulted in a correlated (inverse) significant change to value.
 
Currency Abbreviation 
CHF
Swiss Franc
DKK
Danish Krone
EUR
Euro
USD
United States Dollar
 
Portfolio Abbreviation 
ADR
 American Depositary Receipt
CVR
 Contingent Value Right
PIPE
 Private Investment in Public Equity
8
BlackRock Health Science... (NYSE:BMEZ)
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부터 10월(10) 2024 으로 11월(11) 2024 BlackRock Health Science... 차트를 더 보려면 여기를 클릭.
BlackRock Health Science... (NYSE:BMEZ)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024 BlackRock Health Science... 차트를 더 보려면 여기를 클릭.