BMEZ - BlackRock Health Sciences Term Trust

What this means for you

Saba has told the regulator it may push for changes at this fund. That usually means asking the fund to buy back shares at close to the full value of its holdings, to change who runs it, or to close down and pay holders out.

Nothing is required of you now. If the fund itself announces a buy-back or a vote, it appears in the box above with the date by which you would need to act.

Large investors can also sell down and walk away. We show every notice they file, the day it is filed.

Email me if this changes

What happened, and when

1. April 22, 2025

   The buy-back ended; the fund paid $14.2086 a share.

   Original document →

2. April 18, 2025

   The buy-back ended; an early count says holders offered 38.3% of all shares.

   Original document →

3. March 21, 2025

   The fund offered to buy back 40% of its shares at 99.5% of value, until April 17, 2025.

   Original document →

4. Jan 21, 2025

   Saba raised its stake to 20% (from 19.4%). It has said it may push for changes.

   Original document →

5. Jan 3, 2025

   The fund offered to buy back 2.5% of its shares at 98% of value, until Jan 21, 2025.

   Original document →

About this fund

• Run by BlackRock Advisors, LLC. Part of the BlackRock-advised Funds fund family. As of Dec 31, 2025, from the fund's yearly report. Original document →
• Size: about $1.08 billion of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund does not borrow. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.3% a year in management fees; 1.4% a year in total, including interest on borrowed money. Fiscal year ended Dec 31, 2025. As of Dec 31, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Dec 31, 2025) the fund paid $1.87 a share. $0.32 came from gains; $1.55 was your own money back, not income. As of Dec 31, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Dec 31, 2025): $17.10. The shares traded at $15.05, about 12% below that. As of Dec 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 8.8% over the last three months we have (April-June 2026), before the share price is taken into account. Over the last 12 months: +24.3%. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Dec 31, 2025): the value of the holdings returned +17.9%. How the share price did: the shares returned +18.4% over the same year, counting payouts and the change in the market price. As of Dec 31, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 2019.

What the fund holds

Mostly shares (95%), the rest cash and short-term holdings and preferred shares. About 79% issued in the U.S.

1. Moderna - 3.6%
2. Johnson & Johnson - 3.4%
3. Merck & - 3%
4. Cash and short-term - 2.9%
5. Biogen - 2.8%
6. PsiQuantum - 2.6%
7. Gilead Sciences - 2.5%
8. Edwards Lifesciences - 2.3%
9. Neurocrine Biosciences - 2%
10. Novartis AG - 2%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →