Portfolio

Top 10 Holdings as of 12/31/2018

Biogen Inc. 8.7%
Amgen Inc. 8.2%
Gilead Sciences, Inc. 7.5%
Celgene Corporation 6.3%
Illumina, Inc. 6.23%
Vertex Pharmaceuticals Incorporated 5.13%
Regeneron Pharmaceuticals, Inc. 4.2%
Alexion Pharmaceuticals, Inc. 3.5%
Incyte Corporation 3.0%
Mylan N.V. 2.0%

This data is subject to change on a daily basis. Percentage of net assets.

Sub-Sector Allocation as of 12/31/2018

Biotechnology 73.4%
Pharmaceuticals 11.3%
Life Sciences Tools & Services 8.0%
Repurchase Agreement 4.0%
Health Care Equipment & Supplies _x000D_ 2.3%
Exchange Traded Fund 0.5%
Health Care Providers & Services 0.1%
Medical Devices and Diagnostics 0.1%
Drug Discovery Technologies 0.1%
Other Assets in Excess of Liabilities 0.003

This data is subject to change on a daily basis.

Asset Allocation as of 12/31/2018

Common Stocks And Warrants 88.0%
Convertible Preferred And Warrants 4.7%
Short-Term Investment 4.0%
Milestone Interests 2.2%
Exchange Traded Fund 0.5%
Convertible Notes 0.3%
Other Assets In Excess Of Liabilities 0.3%

This data is subject to change on a daily basis. Percentage of net assets.