NPORT-EX 2 NPORT_LCXI_4891342000.htm BlackRock Science and Technology Trust

Consolidated Schedule of Investments   (unaudited)

March 31, 2021

  

BlackRock Science and Technology Trust (BST)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

 

Automobiles — 2.5%  

Arrival Group, (Acquired 03/23/21, Cost: $6,054,719)(a)

    835,013     $ 12,762,137  

Tesla, Inc.(b)(c)

    28,792       19,231,041  
   

 

 

 
      31,993,178  
Diversified Consumer Services — 0.8%  

Chegg, Inc.(b)(c)

    120,357       10,309,781  
   

 

 

 
Diversified Financial Services(a) — 0.6%  

Linklogis, Inc., Class B, (Acquired 03/31/21, Cost: $2,624,480)

    1,149,000       2,624,480  

TransferWise, (Acquired 06/03/19, Cost: $2,471,478)(d)

    27,945       5,181,282  
   

 

 

 
      7,805,762  
Electrical Equipment — 0.4%  

Shoals Technologies Group, Inc., Class A(b)(c)

    150,565       5,236,651  
   

 

 

 
Electronic Equipment, Instruments & Components — 0.8%  

Samsung SDI Co. Ltd.

    18,473       10,862,530  
   

 

 

 
Entertainment(b) — 3.1%  

Activision Blizzard, Inc.

    108,823       10,120,539  

NetEase, Inc., ADR

    77,307       7,982,721  

Netflix, Inc.(c)

    12,744       6,648,035  

Roku, Inc.(c)

    45,378       14,782,791  
   

 

 

 
      39,534,086  
Health Care Technology — 0.5%  

Teladoc Health, Inc.(b)(c)

    37,308       6,780,729  
   

 

 

 
Hotels, Restaurants & Leisure — 0.3%  

Airbnb, Inc., Class A(b)(c)

    20,734       3,896,748  
   

 

 

 
Interactive Media & Services — 10.7%  

Alphabet, Inc., Class A(b)(c)

    14,848       30,624,297  

Baidu, Inc., ADR(c)

    31,597       6,873,927  

Facebook, Inc., Class A(b)(c)

    59,113       17,410,552  

Kakao Corp.

    53,083       23,429,776  

Snap, Inc., Class A(b)(c)

    303,479       15,868,917  

Tencent Holdings Ltd.

    296,700       23,678,890  

Yandex NV, Class A(b)(c)

    162,287       10,396,105  

ZoomInfo Technologies, Inc., Class A(b)(c)

    208,111       10,176,628  
   

 

 

 
      138,459,092  
Internet & Direct Marketing Retail — 6.5%  

Amazon.com, Inc.(b)(c)

    10,322       31,937,094  

Delivery Hero SE(c)(e)

    88,059       11,413,959  

Ensogo Ltd.(c)(d)

    173,282       1  

Jasper Infotech Private Ltd., Series I, (Acquired 08/18/15, Cost: $1,998,435)(a)(d)

    1,054       251,031  

JD Health International, Inc., (Acquired 12/01/20, Cost: $7,167,887)(a)

    779,400       10,964,286  

Meituan, Class B(c)(e)

    304,696       11,890,514  

MercadoLibre, Inc.(b)(c)

    12,046       17,733,399  
   

 

 

 
      84,190,284  
IT Services — 18.9%  

Adyen NV(c)(e)

    4,997       11,150,326  

Fiserv, Inc.(b)(c)

    77,912       9,274,645  

GMO Payment Gateway, Inc.

    73,400       9,753,174  

Klarna Holdings AB, (Acquired 08/07/19, Cost: $7,971,978)(a)(d)

    26,430       30,740,655  

Mastercard, Inc., Class A(b)

    77,060       27,437,213  

MongoDB, Inc.(b)(c)

    29,473       7,881,964  
Security   Shares     Value  
IT Services (continued)  

Okta, Inc.(b)(c)

    65,447     $ 14,426,482  

Pagseguro Digital Ltd., Class A(b)(c)

    150,560       6,970,928  

PayPal Holdings, Inc.(b)(c)

    103,291       25,083,187  

Shopify, Inc., Class A(b)(c)

    15,176       16,792,244  

Snowflake, Inc., Class A(b)(c)

    8,644       1,981,896  

Square, Inc., Class A(b)(c)

    116,038       26,346,428  

StoneCo Ltd., Class A(b)(c)

    158,853       9,724,981  

Twilio, Inc., Class A(b)(c)

    73,112       24,913,645  

Visa, Inc., Class A(b)

    101,893       21,573,805  
   

 

 

 
      244,051,573  
Road & Rail(b)(c) — 1.8%  

Lyft, Inc., Class A

    190,755       12,051,901  

Uber Technologies, Inc.

    195,775       10,671,695  
   

 

 

 
      22,723,596  
Semiconductors & Semiconductor Equipment — 15.2%  

Advanced Micro Devices, Inc.(b)(c)

    234,019       18,370,492  

ASML Holding NV

    38,607       23,688,067  

Cree, Inc.(b)(c)

    119,471       12,918,399  

Inphi Corp.(b)(c)

    89,383       15,946,821  

Lam Research Corp.(b)

    40,107       23,873,291  

Marvell Technology Group Ltd.(b)

    343,317       16,815,667  

Monolithic Power Systems, Inc.(b)

    34,560       12,206,938  

Qualcomm, Inc.(b)

    55,873       7,408,201  

Renesas Electronics Corp.(c)

    1,105,700       12,106,101  

Skyworks Solutions, Inc.(b)

    52,394       9,613,251  

SOITEC SA(c)

    73,604       15,024,661  

STMicroelectronics NV

    257,458       9,836,271  

Taiwan Semiconductor Manufacturing Co. Ltd., ADR(b)

    148,761       17,595,451  
   

 

 

 
      195,403,611  
Software — 19.8%  

Adobe, Inc.(b)(c)

    38,188       18,153,430  

Atlassian Corp. PLC, Class A(b)(c)

    46,274       9,752,708  

Autodesk, Inc.(b)(c)

    42,883       11,885,023  

Avalara, Inc.(b)(c)

    78,563       10,482,661  

C3.AI, Inc., Class A, (Acquired 12/08/20, Cost: $5,703,600)(a)

    188,667       12,200,158  

C3.AI, Inc., Class A(b)(c)

    75,452       4,973,041  

Cadence Design Systems, Inc.(b)(c)

    84,545       11,581,820  

Coupa Software, Inc.(b)(c)

    41,142       10,469,816  

Crowdstrike Holdings, Inc., Class A(b)(c)

    52,434       9,569,729  

Databricks, Inc., (Acquired 07/24/20, Cost: $960,476)(a)(d)

    19,999       3,180,841  

Elastic NV(b)(c)

    56,525       6,285,580  

Intuit, Inc.(b)

    27,360       10,480,522  

Kingdee International Software Group Co. Ltd.

    2,911,000       9,128,862  

Microsoft Corp.(b)

    192,615       45,412,839  

Paycom Software, Inc.(b)(c)

    21,310       7,885,979  

RingCentral, Inc., Class A(b)(c)

    37,761       11,248,247  

salesforce.com, Inc.(b)(c)

    49,566       10,501,548  

ServiceNow, Inc.(b)(c)

    29,527       14,766,748  

Unity Software, Inc.(b)(c)

    82,066       8,232,040  

Xero Ltd.(c)

    112,503       10,888,705  

Zoom Video Communications, Inc., Class A(b)(c)

    17,056       5,479,922  

Zscaler, Inc.(b)(c)

    72,711       12,482,297  
   

 

 

 
      255,042,516  
 

 

 

CONSOLIDATED SCHEDULE OF INVESTMENTS

  1


Consolidated Schedule of Investments  (unaudited) (continued)

March 31, 2021

  

BlackRock Science and Technology Trust (BST)

(Percentages shown are based on Net Assets)

 

Security   Shares      Value  
Specialty Retail — 0.6%  

Auto1 Group SE(c)(e)

    84,139      $ 4,770,685  

Cazoo Ltd., (Acquired 10/08/20, Cost: $1,414,228)(a)(d)

    102,926        3,150,040  
    

 

 

 
       7,920,725  
Technology Hardware, Storage & Peripherals — 3.7%  

Apple, Inc.(b)

    390,361        47,682,596  
    

 

 

 

Total Common Stocks — 86.2%
(Cost: $350,388,435)

 

     1,111,893,458  
    

 

 

 

Preferred Securities

    

Preferred Stocks — 12.6%(a)(d)

    
Diversified Consumer Services — 0.5%  

Think & Learn Private Ltd.

    

(Acquired 09/30/20, Cost: $1,524,948)

    997        3,236,386  

Series F, (Acquired 09/30/20, Cost: $3,052,975)

    1,054        3,421,415  
    

 

 

 
       6,657,801  
Diversified Financial Services — 0.4%  

TransferWise

    

Series A, (Acquired 06/03/19, Cost: $1,004,242)

    11,355        2,105,330  

Series B, (Acquired 06/03/19, Cost: $288,407)

    3,261        604,622  

Series C, (Acquired 06/03/19, Cost: $161,315)

    1,824        338,188  

Series D, (Acquired 06/03/19, Cost: $44,579)

    504        93,447  

Series E, (Acquired 06/03/19, Cost: $4,688)

    53        9,827  

TransferWise (Seed Preferred), (Acquired 06/03/19, Cost: $849,295)

    9,603        1,780,492  
    

 

 

 
       4,931,906  
Electrical Equipment — 0.5%  

Credo Technology Group Holding Ltd.

    

Series D, (Acquired 03/20/20, Cost: $5,000,001)

    1,001,382        5,818,029  

Series D+, (Acquired 01/22/20, Cost: $404,498)

    69,679        404,835  
    

 

 

 
       6,222,864  
Food Products — 0.3%  

Farmer’s Business Network, Inc., Series F, (Acquired 07/31/20, Cost: $2,999,887)

    90,750        3,477,540  
    

 

 

 
IT Services — 2.9%  

Ant Group Co., Ltd, Series C, (Acquired 05/18/18, Cost: $6,492,863)

    1,157,373        8,009,021  

Automattic, Inc., Series E, (Acquired 02/03/21, Cost: $7,999,945)

    94,117        7,999,945  

Deep Instinct Ltd., Series D-2, (Acquired 03/19/21, Cost: $2,999,391)

    493,493        2,999,391  

TRAX Ltd.

    

Series D, (Acquired 02/18/21, Cost: $1,999,989)

    38,361        2,030,064  

Series E, (Acquired 09/12/19, Cost: $4,000,013)

    106,667        5,644,818  

Trumid Holdings LLC(f)

    

Class J-A, (Acquired 07/24/20, Cost: $2,499,716)

    5,038        2,544,190  

Class J-B, (Acquired 07/24/20, Cost: $1,499,830)

    5,038        2,544,190  

Xiaoju Kuaizhi, Inc., Series A-17, (Acquired 07/28/15, Cost: $3,016,964)

    110,003        5,992,964  
    

 

 

 
       37,764,583  
Security   Shares      Value  
Road & Rail — 0.2%  

FlixMobility GmbH, Series F, (Acquired 07/26/19, Cost: $5,482,937)

    275      $ 3,089,156  
    

 

 

 
Semiconductors & Semiconductor Equipment — 2.5%  

Innovium, Inc.

    

Series E, (Acquired 08/21/19, Cost: $3,000,003)

    353,478        3,428,737  

Series F, (Acquired 06/10/20, Cost: $2,999,996)

    296,062        3,209,312  

Nuvia, Inc., Series B, (Acquired 09/17/20, Cost: $2,999,998)

    935,352        7,707,300  

Psiquantum Corp., Series C, (Acquired 09/09/19, Cost: $3,200,234)

    690,003        3,249,914  

SambaNova Systems, Inc., Series C, (Acquired 02/20/20, Cost: $9,972,126)

    187,300        14,566,321  
    

 

 

 
       32,161,584  
Software — 3.7%  

Avidxchange, Inc., (Acquired 07/29/20, Cost: $2,022,088)

    41,257        2,229,941  

Databricks, Inc.

    

Series F, (Acquired 10/22/19, Cost: $3,999,999)

    93,135        14,813,122  

Series G, (Acquired 02/01/21, Cost: $4,500,001)

    25,371        4,035,258  

DataRobot, Inc.

    

Series F, (Acquired 10/27/20, Cost: $2,999,996)

    228,276        3,086,291  

Series F, (Acquired 03/01/21, Cost: $583,275)

    38,789        524,427  

GitLab, Inc., Series E, (Acquired 09/10/19, Cost: $2,915,501)

    156,500        6,349,205  

Online Ventures Pty Ltd., Series C, (Acquired 01/21/20, Cost: $6,160,136)

    53,642        7,317,176  

Unqork, Inc.

    

Series B, (Acquired 09/19/19, Cost: $3,198,416)

    7,027        7,695,830  

Series C, (Acquired 09/18/20, Cost: $1,303,260)

    1,190        1,303,264  
    

 

 

 
       47,354,514  
Specialty Retail — 0.7%             

Cazoo Ltd.

    

Series A, (Acquired 10/08/20, Cost: $46,195)

    3,362        102,894  

Series B, (Acquired 10/08/20, Cost: $808,325)

    58,829        1,800,456  

Series C, (Acquired 10/08/20, Cost: $16,392)

    1,193        36,511  

Series D, (Acquired 10/08/20, Cost: $2,887,649)

    210,160        6,431,926  
    

 

 

 
       8,371,787  
Technology Hardware, Storage & Peripherals — 0.9%  

ByteDance Ltd., Series E-1, (Acquired 11/11/20, Cost: $9,999,959)

    91,262        11,998,891  
    

 

 

 

Total Preferred Stocks — 12.6%

       162,030,626  
    

 

 

 

Total Preferred Securities — 12.6%

 

(Cost: $114,940,032)

       162,030,626  
    

 

 

 
Warrants             
IT Services — 0.0%  

TRAX Ltd., (Acquired 09/12/19, Cost: $0)(a)(d)

    17,065        134,984  
    

 

 

 

Total Warrants — 0.0%

 

(Cost: $ — )

       134,984  
    

 

 

 

Total Long-Term Investments — 98.8%
(Cost: $465,328,467)

 

     1,274,059,068  
    

 

 

 
 

 

 

2  


Consolidated Schedule of Investments  (unaudited) (continued)

March 31, 2021

  

BlackRock Science and Technology Trust (BST)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Short-Term Securities

   
Money Market Funds — 1.4%            

BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.01%(g)(h)

    18,792,968     $ 18,792,968  
   

 

 

 

Total Short-Term Securities — 1.4%

   

(Cost: $18,792,968)

      18,792,968  
   

 

 

 

Total Investments Before Options Written — 100.2%

   

(Cost: $484,121,435)

      1,292,852,036  
   

 

 

 

Options Written — (0.6)%

   

(Premiums Received: $(14,215,964))

      (7,841,645
   

 

 

 

Total Investments, Net of Options Written — 99.6%
(Cost: $469,905,471)

 

    1,285,010,391  

Other Assets Less Liabilities — 0.4%

      4,714,550  
   

 

 

 

Net Assets — 100.0%

    $ 1,289,724,941  
   

 

 

 
(a) 

Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $243,220,520, representing 18.86% of its net assets as of period end, and an original cost of $151,307,313.

(b) 

All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written.

(c) 

Non-income producing security.

(d) 

Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(e) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(f) 

All or a portion of the security is held by a wholly-owned subsidiary.

(g) 

Affiliate of the Trust.

(h) 

Annualized 7-day yield as of period end.

 

For Trust compliance purposes, the Trust’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended March 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer    Value at
12/31/20
     Purchases
at Cost
     Proceeds
from
Sales
     Net
Realized
Gain
(Loss)
     Change in
Unrealized
Appreciation
(Depreciation)
     Value at
03/31/21
     Shares
Held at
03/31/21
     Income      Capital Gain
Distributions
from
Underlying
Funds
 

BlackRock Liquidity Funds, T-Fund, Institutional Class

   $ 9,266,737      $ 9,526,231 (a)     $      $      $      $ 18,792,968        18,792,968      $ 896      $  

SL Liquidity Series, LLC, Money Market Series

                                                      2,282 (b)        
           

 

 

    

 

 

    

 

 

       

 

 

    

 

 

 
            $      $      $ 18,792,968         $ 3,178      $  
           

 

 

    

 

 

    

 

 

       

 

 

    

 

 

 

 

  (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.

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

                          

Facebook, Inc., Class A

     9          04/01/21        USD     280.00        USD     265        $ (13,545

Lyft, Inc., Class A

     90          04/01/21        USD     62.00        USD     569          (13,455

MasterCard, Inc., Class A

     30          04/01/21        USD     342.50        USD     1,068          (42,375

Okta, Inc.

     47          04/01/21        USD     277.50        USD     1,036          (1,739

RingCentral, Inc., Class A

     38          04/01/21        USD     415.00        USD     1,132          (1,900

Uber Technologies, Inc.

     156          04/01/21        USD     64.50        USD     850          (156

Activision Blizzard, Inc.

     77          04/09/21        USD     97.00        USD     716          (1,964

Adobe, Inc.

     30          04/09/21        USD     500.00        USD     1,426          (3,690

Airbnb, Inc., Class A

     33          04/09/21        USD     215.00        USD     620          (1,848

Alphabet, Inc., Class A

     10          04/09/21        USD     2,120.00        USD     2,063          (10,100

Apple, Inc.

     116          04/09/21        USD     132.00        USD     1,417          (754

Autodesk, Inc.

     34          04/09/21        USD     297.50        USD     942          (1,258

Cree, Inc.

     113          04/09/21        USD     125.00        USD     1,222          (56,500

Crowdstrike Holdings, Inc., Class A

     40          04/09/21        USD     235.00        USD     730          (300

Intuit, Inc.

     18          04/09/21        USD     400.00        USD     690          (2,340

 

 

CONSOLIDATED SCHEDULE OF INVESTMENTS

  3


Consolidated Schedule of Investments  (unaudited) (continued)    BlackRock Science and Technology Trust (BST)

March 31, 2021

                   

Exchange-Traded Options Written (continued)

Description

  

Number of

Contracts

      

Expiration

Date

       Exercise Price       

Notional

Amount (000)

       Value  

Call (continued)

                          

Lam Research Corp.

     28          04/09/21        USD     592.50        USD     1,667        $ (51,100

Lyft, Inc., Class A

     93          04/09/21        USD     62.00        USD     588          (23,157

Marvell Technology Group Ltd.

     155          04/09/21        USD     52.00        USD     759          (4,573

MasterCard, Inc., Class A

     39          04/09/21        USD     362.50        USD     1,389          (9,965

MercadoLibre, Inc.

     23          04/09/21        USD     1,775.00        USD     3,386          (9,890

Microsoft Corp.

     111          04/09/21        USD     240.00        USD     2,617          (18,870

MongoDB, Inc.

     54          04/09/21        USD     407.50        USD     1,444          (16,740

Netflix, Inc.

     15          04/09/21        USD     575.00        USD     863          (585

Okta, Inc.

     48          04/09/21        USD     280.00        USD     1,058          (5,232

Roku, Inc.

     20          04/09/21        USD     430.00        USD     652          (320

ServiceNow, Inc.

     16          04/09/21        USD     535.00        USD     800          (1,880

Shopify, Inc., Class A

     12          04/09/21        USD     1,270.00        USD     1,328          (1,620

Snap, Inc., Class A

     15          04/09/21        USD     70.00        USD     78          (113

Snap, Inc., Class A

     15          04/09/21        USD     69.50        USD     78          (210

Snap, Inc., Class A

     35          04/09/21        USD     65.00        USD     183          (508

Square, Inc., Class A

     113          04/09/21        USD     250.00        USD     2,566          (12,769

StoneCo. Ltd., Class A

     85          04/09/21        USD     85.00        USD     520          (4,675

Tesla, Inc.

     25          04/09/21        USD     775.00        USD     1,670          (4,538

Twilio, Inc., Class A

     27          04/09/21        USD     425.00        USD     920          (540

Visa, Inc., Class A

     37          04/09/21        USD     217.50        USD     783          (3,608

Yandex NV, Class A

     41          04/09/21        USD     67.50        USD     263          (1,333

Yandex NV, Class A

     52          04/09/21        USD     69.00        USD     333          (650

Zoom Video Communications, Inc., Class A

     61          04/09/21        USD     415.00        USD     1,960          (1,525

Zscaler, Inc.

     65          04/09/21        USD     215.00        USD     1,116          (6,825

Activision Blizzard, Inc.

     130          04/16/21        USD     105.00        USD     1,209          (1,430

Adobe, Inc.

     28          04/16/21        USD     495.00        USD     1,331          (10,710

Advanced Micro Devices, Inc.

     160          04/16/21        USD     95.00        USD     1,256          (1,440

Alphabet, Inc., Class A

     11          04/16/21        USD     2,120.00        USD     2,269          (19,085

Amazon.com, Inc.

     6          04/16/21        USD     3,250.00        USD     1,856          (6,645

Apple, Inc.

     95          04/16/21        USD     136.25        USD     1,160          (998

Avalara, Inc.

     124          04/16/21        USD     180.00        USD     1,655          (2,480

C3.AI, Inc., Class A

     50          04/16/21        USD     165.00        USD     330          (750

C3.AI, Inc., Class A

     49          04/16/21        USD     105.00        USD     323          (1,470

Cadence Design Systems, Inc.

     271          04/16/21        USD     150.00        USD     3,712          (10,162

Chegg, Inc.

     212          04/16/21        USD     125.00        USD     1,816          (1,060

Coupa Software, Inc.

     38          04/16/21        USD     370.00        USD     967          (5,320

Cree, Inc.

     113          04/16/21        USD     125.00        USD     1,222          (7,063

Crowdstrike Holdings, Inc., Class A

     41          04/16/21        USD     230.00        USD     748          (697

Elastic NV

     98          04/16/21        USD     175.00        USD     1,090          (490

Facebook, Inc., Class A

     20          04/16/21        USD     287.50        USD     589          (26,000

Fiserv, Inc.

     91          04/16/21        USD     130.00        USD     1,083          (865

Inphi Corp.

     151          04/16/21        USD     170.00        USD     2,694          (145,715

Intuit, Inc.

     19          04/16/21        USD     400.00        USD     728          (5,795

Intuit, Inc.

     37          04/16/21        USD     385.00        USD     1,417          (27,380

Lyft, Inc., Class A

     94          04/16/21        USD     60.00        USD     594          (41,360

Marvell Technology Group Ltd.

     155          04/16/21        USD     55.00        USD     759          (5,425

MasterCard, Inc., Class A

     38          04/16/21        USD     360.00        USD     1,353          (20,520

Microsoft Corp.

     42          04/16/21        USD     245.00        USD     990          (5,775

MongoDB, Inc.

     12          04/16/21        USD     410.00        USD     321          (240

Netflix, Inc.

     15          04/16/21        USD     530.00        USD     795          (14,250

Pagseguro Digital Ltd., Class A

     145          04/16/21        USD     60.00        USD     671          (1,450

Paycom Software, Inc.

     33          04/16/21        USD     420.00        USD     1,221          (2,723

PayPal Holdings, Inc.

     144          04/16/21        USD     260.00        USD     3,497          (27,936

RingCentral, Inc., Class A

     18          04/16/21        USD     410.00        USD     536          (810

Roku, Inc.

     106          04/16/21        USD     485.00        USD     3,453          (2,650

ServiceNow, Inc.

     42          04/16/21        USD     590.00        USD     2,100          (7,770

Shoals Technologies Group Inc., Class A

     131          04/16/21        USD     45.00        USD     456          (3,930

Shoals Technologies Group Inc., Class A

     132          04/16/21        USD     50.00        USD     459          (3,300

Shopify, Inc., Class A

     9          04/16/21        USD     1,480.00        USD     996          (675

Snap, Inc., Class A

     583          04/16/21        USD     65.00        USD     3,049          (24,486

Snowflake, Inc., Class A

     30          04/16/21        USD     265.00        USD     688          (4,050

Square, Inc., Class A

     114          04/16/21        USD     260.00        USD     2,588          (15,504

 

4


Consolidated Schedule of Investments (unaudited) (continued)

March 31, 2021

  

BlackRock Science and Technology Trust (BST)

 

Exchange-Traded Options Written (continued)

Description

  

Number of

Contracts

      

Expiration

Date

       Exercise Price       

Notional

Amount (000)

       Value  

Call (continued)

                          

Teladoc Health, Inc.

     49          04/16/21        USD     300.00        USD     891        $ (319

Tesla, Inc.

     22          04/16/21        USD     830.00        USD     1,469          (3,927

Twilio, Inc., Class A

     85          04/16/21        USD     450.00        USD     2,896          (2,253

Unity Software, Inc.

     143          04/16/21        USD     144.00        USD     1,434          (115

ZoomInfo Technologies, Inc., Class A

     406          04/16/21        USD     65.00        USD     1,985          (6,090

Zscaler, Inc.

     66          04/16/21        USD     220.00        USD     1,133          (1,980

Advanced Micro Devices, Inc.

     180          04/23/21        USD     85.00        USD     1,413          (16,110

Airbnb, Inc., Class A

     22          04/23/21        USD     210.00        USD     413          (6,743

Alphabet, Inc., Class A

     14          04/23/21        USD     2,085.00        USD     2,888          (55,860

Amazon.com, Inc.

     16          04/23/21        USD     3,250.00        USD     4,951          (31,640

Apple, Inc.

     78          04/23/21        USD     128.00        USD     953          (9,399

Atlassian Corp. PLC, Class A

     73          04/23/21        USD     237.50        USD     1,539          (15,512

Autodesk, Inc.

     46          04/23/21        USD     285.00        USD     1,275          (25,875

Crowdstrike Holdings, Inc., Class A

     39          04/23/21        USD     240.00        USD     712          (1,931

Facebook, Inc., Class A

     110          04/23/21        USD     285.00        USD     3,240          (174,075

Fiserv, Inc.

     91          04/23/21        USD     132.00        USD     1,083          (1,775

Lyft, Inc., Class A

     73          04/23/21        USD     66.00        USD     461          (13,468

MasterCard, Inc., Class A

     40          04/23/21        USD     390.00        USD     1,424          (2,760

Microsoft Corp.

     55          04/23/21        USD     247.50        USD     1,297          (7,673

NetEase, Inc., ADR

     135          04/23/21        USD     111.00        USD     1,394          (17,887

Netflix, Inc.

     14          04/23/21        USD     565.00        USD     791          (12,180

Okta, Inc.

     17          04/23/21        USD     235.00        USD     375          (7,268

Qualcomm, Inc.

     97          04/23/21        USD     135.00        USD     1,286          (28,227

RingCentral, Inc., Class A

     53          04/23/21        USD     350.00        USD     1,579          (5,698

ServiceNow, Inc.

     45          04/23/21        USD     515.00        USD     2,251          (52,200

Snap, Inc., Class A

     41          04/23/21        USD     60.00        USD     214          (8,303

Snap, Inc., Class A

     30          04/23/21        USD     63.50        USD     157          (4,005

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

     34          04/23/21        USD     123.00        USD     402          (9,146

Teladoc Health, Inc.

     46          04/23/21        USD     212.50        USD     836          (7,521

Tesla, Inc.

     13          04/23/21        USD     790.00        USD     868          (9,653

Twilio, Inc., Class A

     27          04/23/21        USD     375.00        USD     920          (16,267

Uber Technologies, Inc.

     117          04/23/21        USD     65.00        USD     638          (2,223

Visa, Inc., Class A

     70          04/23/21        USD     220.00        USD     1,482          (12,495

Zscaler, Inc.

     29          04/23/21        USD     210.00        USD     498          (3,089

Zscaler, Inc.

     108          04/23/21        USD     200.00        USD     1,854          (16,956

Activision Blizzard, Inc.

     95          04/30/21        USD     94.50        USD     884          (19,332

Adobe, Inc.

     26          04/30/21        USD     480.00        USD     1,236          (35,685

Advanced Micro Devices, Inc.

     123          04/30/21        USD     84.50        USD     966          (21,402

Airbnb, Inc., Class A

     17          04/30/21        USD     200.00        USD     320          (11,772

Apple, Inc.

     42          04/30/21        USD     133.00        USD     513          (3,402

Apple, Inc.

     32          04/30/21        USD     126.00        USD     391          (8,960

Autodesk, Inc.

     33          04/30/21        USD     287.50        USD     915          (20,130

Coupa Software, Inc.

     66          04/30/21        USD     300.00        USD     1,680          (19,965

Crowdstrike Holdings, Inc., Class A

     26          04/30/21        USD     210.00        USD     475          (5,759

Intuit, Inc.

     21          04/30/21        USD     390.00        USD     804          (18,375

Lam Research Corp.

     67          04/30/21        USD     580.00        USD     3,988          (261,132

Lyft, Inc., Class A

     219          04/30/21        USD     75.00        USD     1,384          (11,935

Marvell Technology Group Ltd.

     114          04/30/21        USD     60.00        USD     558          (3,021

Marvell Technology Group Ltd.

     184          04/30/21        USD     50.00        USD     901          (35,236

MercadoLibre, Inc.

     21          04/30/21        USD     1,710.00        USD     3,092          (15,750

Microsoft Corp.

     88          04/30/21        USD     237.50        USD     2,075          (56,760

MongoDB, Inc.

     13          04/30/21        USD     300.00        USD     348          (7,410

NetEase, Inc., ADR

     135          04/30/21        USD     109.00        USD     1,394          (27,675

PayPal Holdings, Inc.

     142          04/30/21        USD     262.50        USD     3,448          (57,155

RingCentral, Inc., Class A

     29          04/30/21        USD     370.00        USD     864          (3,190

Roku, Inc.

     11          04/30/21        USD     400.00        USD     358          (3,460

salesforce.com, Inc.

     87          04/30/21        USD     220.00        USD     1,843          (30,015

Shopify, Inc., Class A

     26          04/30/21        USD     1,200.00        USD     2,877          (72,670

Skyworks Solutions, Inc.

     107          04/30/21        USD     187.50        USD     1,963          (73,027

Snap, Inc., Class A

     165          04/30/21        USD     64.00        USD     863          (25,245

Square, Inc., Class A

     205          04/30/21        USD     250.00        USD     4,655          (113,262

StoneCo. Ltd., Class A

     152          04/30/21        USD     73.00        USD     931          (7,980

 

 

CONSOLIDATED SCHEDULE OF INVESTMENTS

  5


Consolidated Schedule of Investments  (unaudited) (continued)

March 31, 2021

  

BlackRock Science and Technology Trust (BST)

 

Exchange-Traded Options Written (continued)

Description

  

Number of

Contracts

      

Expiration

Date

       Exercise Price       

Notional

Amount (000)

       Value  

Call (continued)

                          

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

     277          04/30/21        USD     121.00        USD     3,276        $ (103,875

Teladoc Health, Inc.

     22          04/30/21        USD     225.00        USD     400          (2,607

Tesla, Inc.

     4          04/30/21        USD     810.00        USD     267          (3,710

Twilio, Inc., Class A

     43          04/30/21        USD     405.00        USD     1,465          (17,522

Uber Technologies, Inc.

     156          04/30/21        USD     63.50        USD     850          (7,722

Visa, Inc., Class A

     51          04/30/21        USD     230.00        USD     1,080          (5,687

Yandex NV, Class A

     245          04/30/21        USD     68.50        USD     1,570          (27,562

Zoom Video Communications, Inc., Class A

     32          04/30/21        USD     380.00        USD     1,028          (9,200

Activision Blizzard, Inc.

     78          05/07/21        USD     98.00        USD     725          (16,302

Adobe, Inc.

     23          05/07/21        USD     500.00        USD     1,093          (17,250

Advanced Micro Devices, Inc.

     356          05/07/21        USD     83.00        USD     2,795          (89,000

Amazon.Com, Inc.

     9          05/07/21        USD     3,195.00        USD     2,785          (64,755

Apple, Inc.

     95          05/07/21        USD     126.00        USD     1,160          (31,112

Atlassian Corp. PLC, Class A

     84          05/07/21        USD     230.00        USD     1,770          (53,340

Autodesk, Inc.

     37          05/07/21        USD     277.50        USD     1,025          (42,550

Cree, Inc.

     93          05/07/21        USD     116.00        USD     1,006          (50,220

Crowdstrike Holdings, Inc., Class A

     37          05/07/21        USD     197.50        USD     675          (22,292

Marvell Technology Group Ltd.

     183          05/07/21        USD     50.00        USD     896          (39,802

Microsoft Corp.

     52          05/07/21        USD     245.00        USD     1,226          (18,044

Skyworks Solutions, Inc.

     76          05/07/21        USD     190.00        USD     1,394          (48,830

Snap, Inc., Class A

     137          05/07/21        USD     55.00        USD     716          (53,430

Snap, Inc., Class A

     41          05/07/21        USD     57.50        USD     214          (12,402

StoneCo. Ltd., Class A

     80          05/07/21        USD     70.00        USD     490          (8,800

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

     22          05/07/21        USD     119.00        USD     260          (11,110

Tesla, Inc.

     11          05/07/21        USD     700.00        USD     735          (46,117

Tesla, Inc.

     21          05/07/21        USD     745.00        USD     1,403          (54,915

Twilio, Inc., Class A

     30          05/07/21        USD     370.00        USD     1,022          (41,400

Visa, Inc., Class A

     23          05/07/21        USD     215.00        USD     487          (12,995

Yandex NV, Class A

     230          05/07/21        USD     68.00        USD     1,473          (64,400

Adobe, Inc.

     26          05/21/21        USD     490.00        USD     1,236          (35,490

Alphabet, Inc., Class A

     14          05/21/21        USD     2,050.00        USD     2,888          (134,540

Amazon.com, Inc.

     4          05/21/21        USD     3,260.00        USD     1,238          (26,660

Apple, Inc.

     92          05/21/21        USD     140.00        USD     1,124          (8,832

Apple, Inc.

     210          05/21/21        USD     130.00        USD     2,565          (56,595

Atlassian Corp. PLC, Class A

     4          05/21/21        USD     230.00        USD     84          (3,040

Avalara, Inc.

     150          05/21/21        USD     150.00        USD     2,001          (67,500

Chegg, Inc.

     209          05/21/21        USD     99.00        USD     1,790          (47,889

Coupa Software, Inc.

     39          05/21/21        USD     280.00        USD     993          (34,905

Cree, Inc.

     99          05/21/21        USD     120.00        USD     1,071          (49,500

Elastic NV

     99          05/21/21        USD     135.00        USD     1,101          (16,582

Facebook, Inc., Class A

     37          05/21/21        USD     290.00        USD     1,090          (69,097

Inphi Corp.

     161          05/21/21        USD     170.00        USD     2,872          (197,225

Lam Research Corp.

     38          05/21/21        USD     580.00        USD     2,262          (181,355

Marvell Technology Group Ltd.

     410          05/21/21        USD     52.50        USD     2,008          (70,315

Microsoft Corp.

     37          05/21/21        USD     250.00        USD     872          (13,042

MongoDB, Inc.

     24          05/21/21        USD     380.00        USD     642          (4,080

Monolithic Power Systems, Inc.

     118          05/21/21        USD     370.00        USD     4,168          (193,520

Okta, Inc.

     108          05/21/21        USD     260.00        USD     2,381          (32,562

Pagseguro Digital Ltd., Class A

     156          05/21/21        USD     57.50        USD     722          (8,580

Paycom Software, Inc.

     41          05/21/21        USD     430.00        USD     1,517          (32,185

PayPal Holdings, Inc.

     77          05/21/21        USD     250.00        USD     1,870          (86,625

Qualcomm, Inc.

     98          05/21/21        USD     140.00        USD     1,299          (38,465

Roku, Inc.

     21          05/21/21        USD     350.00        USD     684          (45,727

salesforce.com, Inc.

     80          05/21/21        USD     220.00        USD     1,695          (43,800

Shoals Technologies Group Inc., Class A

     263          05/21/21        USD     40.00        USD     915          (71,010

Shopify, Inc., Class A

     11          05/21/21        USD     1,225.00        USD     1,217          (43,560

Shopify, Inc., Class A

     25          05/21/21        USD     1,150.00        USD     2,766          (164,125

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

     175          05/21/21        USD     130.00        USD     2,070          (40,687

Teladoc Health, Inc.

     13          05/21/21        USD     195.00        USD     236          (12,935

Tesla, Inc.

     4          05/21/21        USD     830.00        USD     267          (6,090

Twilio, Inc., Class A

     43          05/21/21        USD     400.00        USD     1,465          (45,472

Uber Technologies, Inc.,

     156          05/21/21        USD     60.00        USD     850          (29,796

 

 

6  


Schedule of Investments  (unaudited) (continued)

March 31, 2021

  

BlackRock Science and Technology Trust (BST)

 

Exchange-Traded Options Written (continued)

Description

  

Number of

Contracts

      

Expiration

Date

       Exercise Price       

Notional

Amount (000)

    Value  

Call (continued)

                       

Unity Software, Inc.

     140          05/21/21        USD     130.00        USD     1,404     $ (24,500)  

Visa, Inc., Class A

     22          05/21/21        USD     220.00        USD     466       (9,460)  

ZoomInfo Technologies, Inc., Class A

     346          05/21/21        USD     55.00        USD     1,692       (77,850)  
                       

 

 

 
                        $ (5,352,434)  
                       

 

 

 

OTC Options Written

Description

   Counterparty   

Number of

Contracts

    

Expiration

Date

     Exercise Price     

Notional

Amount (000)

     Value  

Call

                     

Kakao Corp.

   Morgan Stanley & Co. International PLC      2,000        04/07/21        USD       497,175.00        USD       999,064      $ (17,587)  

Kingdee International Software Group Co. Ltd.

   Morgan Stanley & Co. International PLC      799,000        04/07/21        HKD       33.11        HKD       19,479        (34)  

SOITEC SA.

   UBS AG      1,500        04/07/21        EUR       177.88        EUR       261        (3,617)  

Adyen NV

   UBS AG      1,800        04/13/21        EUR       2,059.20        EUR       3,425        (18,098)  

SOITEC SA.

   Barclays Bank PLC      7,800        04/13/21        EUR       178.09        EUR       1,358        (28,948)  

GMO Payment Gateway, Inc.

   JPMorgan Chase Bank N.A.      14,000        04/14/21        JPY       14,516.48        JPY       205,979        (71,483)  

Xero Ltd.

   UBS AG      18,300        04/14/21        AUD       121.24        AUD       2,332        (106,820)  

STMicroelectronics NV

   UBS AG      27,400        04/15/21        EUR       33.66        EUR       893        (18,197)  

ASML Holding NV

   Goldman Sachs International      12,700        04/20/21        EUR       456.15        EUR       6,645        (1,029,504)  

Delivery Hero SE.

   Morgan Stanley & Co. International PLC      25,400        04/20/21        EUR       112.38        EUR       2,807        (123,699)  

Meituan, Class B

   Morgan Stanley & Co. International PLC      88,000        04/20/21        HKD       334.13        HKD       26,697        (69,907)  

SOITEC SA.

   Morgan Stanley & Co. International PLC      8,400        04/20/21        EUR       170.47        EUR       1,462        (77,653)  

GMO Payment Gateway, Inc.

   Goldman Sachs International      11,700        04/27/21        JPY       14,223.03        JPY       172,140        (96,093)  

STMicroelectronics NV

   UBS AG      24,100        04/27/21        EUR       30.73        EUR       785        (68,321)  

Tencent Holdings Ltd.

   Goldman Sachs International      123,900        04/27/21        HKD       715.53        HKD       76,871        (25,548)  

Renesas Electronics Corp.

   Goldman Sachs International      214,200        04/28/21        JPY       1,224.74        JPY       259,676        (75,011)  

Meituan, Class B

   Morgan Stanley & Co. International PLC      95,000        04/29/21        HKD       355.59        HKD       28,821        (66,312)  

SOITEC SA.

   UBS AG      7,500        05/04/21        EUR       169.82        EUR       1,305        (86,078)  

Xero Ltd.

   UBS AG      21,000        05/04/21        AUD       122.82        AUD       2,676        (132,113)  

Kakao Corp.

   Morgan Stanley & Co. International PLC      8,000        05/06/21        USD       512,940.00        USD       3,996,255        (108,320)  

Kingdee International Software Group Co. Ltd.

   Citibank N.A.      416,000        05/06/21        HKD       28.71        HKD       10,142        (41,663)  

Samsung SDI Co. Ltd.

   Citibank N.A.      6,400        05/06/21        USD       667,185.16        USD       4,259,161        (189,956)  

Delivery Hero SE.

   Goldman Sachs International      5,500        05/14/21        EUR       113.47        EUR       608        (34,249)  
                     

 

 

 
                      $ (2,489,211)  
                     

 

 

 

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. 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 for identical assets or liabilities that the Trust has the ability to access;

 

   

Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and

 

   

Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global 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

 

 

CONSOLIDATED SCHEDULE OF INVESTMENTS

  7


Schedule of Investments  (unaudited) (continued)

March 31, 2021

  

BlackRock Science and Technology Trust (BST)

 

Fair Value Hierarchy as of Period End (continued)

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 investments categorized in the fair value hierarchy. The breakdown of the Trust’s investments into major categories is disclosed in the Consolidated Schedule of Investments above.

 

      Level 1        Level 2        Level 3        Total  

Assets

                 

Investments

                 

Long-Term Investments

                 

Common Stocks

                 

Automobiles

   $ 19,231,041        $ 12,762,137        $        $ 31,993,178  

Diversified Consumer Services

     10,309,781                            10,309,781  

Diversified Financial Services

              2,624,480          5,181,282          7,805,762  

Electrical Equipment

     5,236,651                            5,236,651  

Electronic Equipment, Instruments & Components

              10,862,530                   10,862,530  

Entertainment

     39,534,086                            39,534,086  

Health Care Technology

     6,780,729                            6,780,729  

Hotels, Restaurants & Leisure

     3,896,748                            3,896,748  

Interactive Media & Services

     91,350,426          47,108,666                   138,459,092  

Internet & Direct Marketing Retail

     49,670,493          34,268,759          251,032          84,190,284  

IT Services

     192,407,418          20,903,500          30,740,655          244,051,573  

Road & Rail

     22,723,596                            22,723,596  

Semiconductors & Semiconductor Equipment

     134,748,511          60,655,100                   195,403,611  

Software

     219,643,950          32,217,725          3,180,841          255,042,516  

Specialty Retail

     4,770,685                   3,150,040          7,920,725  

Technology Hardware, Storage & Peripherals

     47,682,596                            47,682,596  

Preferred Securities

                 

Preferred Stocks

                       162,030,626          162,030,626  

Warrants

                       134,984          134,984  

Short-Term Securities

                 

Money Market Funds

     18,792,968                            18,792,968  
  

 

 

      

 

 

      

 

 

      

 

 

 
   $ 866,779,679        $ 221,402,897        $ 204,669,460        $ 1,292,852,036  
  

 

 

      

 

 

      

 

 

      

 

 

 

Derivative Financial Instruments(a)

                 

Liabilities

                 

Equity Contracts

   $ (5,304,430)        $ (2,537,215)        $        $ (7,841,645)  
  

 

 

      

 

 

      

 

 

      

 

 

 

 

  (a) 

Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

 

A reconciliation of Level 3 financial instruments is presented when the Trust had a significant amount of Level 3 investments 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

   

Preferred

Stocks

    Warrants     Total  

Assets

       

Opening balance, as of December 31, 2020

  $ 37,043,595     $  124,970,280     $  189,763     $  162,203,638  

Transfers into Level 3

                       

Transfers out of Level 3

                       

Other(a)

    (15,104,799     15,104,799              

Accrued discounts/premiums

                       

Net realized gain (loss)

          57,119             57,119  

Net change in unrealized appreciation (depreciation)(b)

    20,565,054       9,870,546       (54,779     30,380,821  

Purchases

          18,082,601             18,082,601  

Sales

          (6,054,719           (6,054,719
 

 

 

   

 

 

   

 

 

   

 

 

 

Closing balance, as of March 31, 2021

  $ 42,503,850     $ 162,030,626     $ 134,984     $ 204,669,460  
 

 

 

   

 

 

   

 

 

   

 

 

 

Net change in unrealized appreciation (depreciation) on investments still held at March 31, 2021(b)

  $ 20,565,056     $ 24,195,731     $  (54,779)     $ 44,706,008  
 

 

 

   

 

 

   

 

 

   

 

 

 

 

(a)  

Certain Level 3 investments were re-classified between Common Stocks and Preferred Stocks.

 

(b)   

Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at March 31, 2021 is generally due to investments no longer held or categorized as Level 3 at period end.

 

 

8  


Schedule of Investments  (unaudited) (continued)

March 31, 2021

  

BlackRock Science and Technology Trust (BST)

 

The following table summarizes the valuation approaches used and unobservable inputs utilized by the BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) to determine the value of certain of the Trust’s Level 3 financial instruments as of period end.

 

     Value      Valuation
Approach
     Unobservable Inputs   

Range of
Unobservable
Inputs

Utilized(a)

     Weighted
Average of
Unobservable
Inputs
 

Assets

             

Common Stocks(b)

  $ 42,503,850        Market      Revenue Multiple      6.25x - 42.00x        23.32x  
        Recent Transactions              

Preferred Stocks(c)(d)

    162,030,626        Income      Discount Rate      17% - 27%        23%  
        Exit Multiple      8.75x         
       Market      Revenue Multiple      2.65x - 42.00x        15.99x  
        EBITDA Multiple      19.75x         
        Volatility      41% - 58%        53%  
        Time to Exit      2.5 - 5.0        3.0  
        Recent Transactions              

Warrants

   

 

134,984

 

 

 

    

 

Market

 

 

 

   Recent Transactions

 

    

 

 

 

 

    

 

 

 

 

 

 

 

             
    $204,669,460                            
 

 

 

             

 

(a) 

A significant change in unobservable input would have resulted in a correlated (inverse) significant change to value.

(b) 

For the period end March 31, 2021, the valuation technique for investments classified as Common Stocks amounting to $3,150,040 changed to Transaction Price approach. The investments were previously valued utilizing Current Value Method. The change was due to consideration of the information that was available at the time the investments were valued.

(c) 

For the period end March 31, 2021, the valuation technique for investments classified as Preferred Stocks amounting to $23,456,969 changed to Current Value Method. The investments were previously valued utilizing Transaction Price Approach. The change was due to consideration of the information that was available at the time the investments were valued.

(d) 

For the period end March 31, 2021, the valuation technique for investments classified as Preferred Stocks amounting to $14,087,474 changed to Transaction Price approach. The investments were previously valued utilizing Current Value Method. The change was due to consideration of the information that was available at the time the investments were valued.

Currency Abbreviation

 

AUD   Australian Dollar
EUR   Euro
HKD   Hong Kong Dollar
JPY   Japanese Yen
USD   United States Dollar

Portfolio Abbreviation

 

ADR   American Depositary Receipt

 

 

CONSOLIDATED SCHEDULE OF INVESTMENTS

  9