NPORT-EX 2 NPORT_LCXI_91081990_0322.htm BlackRock Science and Technology Trust

Consolidated Schedule of Investments (unaudited)

March 31, 2022

  

 

BlackRock Science and Technology Trust (BST)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

   

Automobiles(a) — 2.8%

   

Arrival SA

    1,090,443     $ 4,067,352  

Tesla, Inc.(b)

    33,525             36,126,540  
   

 

 

 
   

 

 

 

40,193,892

 

 

Capital Markets(b) — 0.7%            

Coinbase Global, Inc., Class A(a)

    18,583       3,528,169  

S&P Global, Inc.

    17,435       7,151,488  
   

 

 

 
   

 

 

 

10,679,657

 

 

Diversified Consumer Services — 0.3%            

Think & Learn Private Ltd., (Acquired 09/30/20, Cost: $1,524,948)(c)(d)

    997       4,687,314  
   

 

 

 
Electronic Equipment, Instruments & Components — 1.5%  

CDW Corp.(b)

    54,202       9,696,196  

Samsung SDI Co. Ltd.

    23,749       11,558,392  
   

 

 

 
   

 

 

 

21,254,588

 

 

Entertainment — 0.4%            

Roku, Inc.(a)(b)

    46,767       5,858,502  
   

 

 

 
Hotels, Restaurants & Leisure(a)(b) — 1.2%  

Airbnb, Inc., Class A

    37,782       6,489,436  

Booking Holdings, Inc.

    4,490       10,544,541  
   

 

 

 
   

 

 

 

17,033,977

 

 

Interactive Media & Services — 6.7%            

Alphabet, Inc., Class A(a)(b)

    15,340       42,665,909  

Kakao Corp.

    259,131       22,523,282  

Snap, Inc., Class A(a)(b)

    261,882       9,425,133  

Z Holdings Corp.

    2,013,100       8,702,816  

ZoomInfo Technologies, Inc., CLass A(a)(b)

    237,092       14,163,876  
   

 

 

 
   

 

 

 

97,481,016

 

 

Internet & Direct Marketing Retail — 3.3%            

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

    9,808       31,973,589  

Cazoo Group Ltd.(a)(e)

    1,298,058       3,582,640  

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

    168,640       236,096  

MercadoLibre, Inc.(a)(b)

    10,235       12,174,328  
   

 

 

 
   

 

 

 

47,966,653

 

 

Internet Software & Services — 0.7%            

Voltron Data Inc., Series A, (Acquired 01/18/22, Cost: $10,000,000)(c)(d)

    6,201,935       9,923,096  
   

 

 

 
IT Services — 18.2%            

Accenture PLC, Class A(b)

    52,691       17,768,986  

Adyen NV(a)(f)

    4,805       9,517,232  

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

    94,117       6,925,129  

Block, Inc.(a)(b)

    111,131       15,069,364  

GMO Payment Gateway Inc.

    88,800       9,046,597  

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

    26,430       39,446,151  

Mastercard, Inc., Class A(b)

    82,846       29,607,503  

MongoDB, Inc.(a)(b)

    32,327       14,339,934  

Okta, Inc.(a)(b)

    74,260       11,210,290  

PayPal Holdings, Inc.(a)(b)

    114,273       13,215,672  

Salt Pay Co., Ltd., Series C, (Acquired 12/17/21, Cost: $24,999,987)(c)(d)

    12,871       23,389,052  

Shopify, Inc., Class A(a)(b)

    9,282       6,274,261  

Snowflake, Inc., Class A(a)(b)

    13,836       3,170,243  
Security   Shares     Value  
IT Services (continued)            

Thoughtworks Holding Inc.(a)(b)

    469,678     $ 9,773,999  

TRAX Ltd., (Acquired 09/12/19, Cost: $4,000,013)(c)(d)

    106,667       5,077,349  

TRAX Ltd., Series D, (Acquired 02/18/21, Cost: $1,999,989)(c)(d)

    38,361       1,825,984  

Twilio, Inc., Class A(a)(b)

    79,278       13,065,807  

Visa, Inc., Class A(b)

    113,783       25,233,656  

Wise PLC, Class A(a)

    1,418,170       9,169,299  
   

 

 

 
   

 

 

 

    263,126,508

 

 

Professional Services — 0.4%            

Planet Labs Inc., (Acquired 01/06/22, Cost: $10,000,000)(d)

    1,000,000       5,080,000  
   

 

 

 
Road & Rail — 1.1%            

Ant Group Co., Ltd, Series C, (Acquired 05/18/18, Cost: $6,492,862)(c)(d)

    1,703,548       6,337,198  

Lyft, Inc., Class A(a)(b)

    229,117       8,798,093  
   

 

 

 
   

 

 

 

15,135,291

 

 

Semiconductors & Semiconductor Equipment — 17.9%  

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

    124,266       13,587,244  

Alphawave IP Group PLC(a)

    1,539,553       3,578,718  

Analog Devices, Inc.(b)

    46,593       7,696,232  

ASML Holding NV

    35,031       23,408,466  

Credo Technology Group Holding Ltd., (Acquired 01/27/22, Cost: $5,404,499)(d)

    1,071,061       15,782,111  

Globalfoundries Inc.(a)(b)

    169,368       10,571,950  

Lam Research Corp.(b)

    40,619       21,837,181  

Marvell Technology Inc.(b)

    611,368       43,841,199  

Micron Technology, Inc.(b)

    92,793       7,227,647  

Monolithic Power Systems, Inc.(b)

    29,170       14,167,286  

NVIDIA Corp.(b)

    67,912       18,530,468  

Qualcomm, Inc.(b)

    42,749       6,532,902  

Renesas Electronics Corp.(a)

    1,000,900       11,597,395  

Soitec SA(a)

    71,545       13,420,721  

STMicroelectronics NV

    265,143       11,524,167  

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

    138,104       14,398,723  

Wolfspeed, Inc.(a)(b)

    187,495       21,348,181  
   

 

 

 
   

 

 

 

259,050,591

 

 

Software — 21.1%            

Adobe, Inc.(a)(b)

    31,718       14,451,355  

ANSYS, Inc.(a)(b)

    35,199       11,180,962  

AppLovin Corp., Class A(a)(b)

    200,487       11,040,819  

Atlassian Corp. PLC, Class A(a)(b)

    41,325       12,142,525  

Avalara, Inc.(a)(b)

    80,082       7,968,960  

AvidXchange Holdings, Inc.(a)

    248,268       1,998,558  

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

    165,028       1,324,416  

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

    100,929       16,598,783  

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

    51,352       11,661,012  

CS Disco, Inc.(a)(b)

    215,329       7,314,726  

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

    19,999       3,542,223  

DataRobot, Inc., (Acquired 03/01/21, Cost: $583,275)(c)(d)

    38,789       1,054,673  

Elastic NV(a)(b)

    67,504       6,004,481  

Gitlab, Inc., Class A(a)(b)

    156,500       8,521,425  

Grammarly, Inc., (Acquired 11/17/21, Cost: $18,749,975)(c)(d)

    715,323       18,884,527  
 

 

 

1  


Consolidated Schedule of Investments (unaudited) (continued)

March 31, 2022

  

 

BlackRock Science and Technology Trust (BST)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Software (continued)

   

Intuit, Inc.(b)

    31,439     $ 15,117,129  

Microsoft Corp.(b)

    237,600       73,254,456  

Patreon, Inc., (Acquired 08/19/21, Cost: $3,352,226)(c)(d)

    59,524       2,839,890  

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

    65,222       13,847,935  

ServiceNow, Inc.(a)(b)

    31,148       17,346,010  

SiteMinder Ltd.(a)

    2,145,680       7,301,016  

Snorkel AI, Inc., (Acquired 06/30/21, Cost: $997,636)(c)(d)

    66,422       907,989  

Snyk Ltd., (Acquired 09/02/21, Cost: $5,192,307)(c)(d) .

    361,972       4,560,847  

Unity Software, Inc.(a)(b)

    117,216       11,628,999  

Xero Ltd.(a)

    130,197       9,867,326  

Zscaler, Inc.(a)(b)

    60,440       14,582,963  
   

 

 

 
   

 

 

 

304,944,005

 

 

Technology Hardware, Storage & Peripherals — 5.6%        

Apple, Inc.(b)

    462,554       80,766,554  
   

 

 

 

Total Common Stocks — 81.9%
(Cost: $584,602,858)

      1,183,181,644  
   

 

 

 
    

Par

(000)

        

Convertible Notes

   
Software — 0.6%            

Warhol, Inc.(Acquired: 12/14/21, Cost: $8,000,000), 0.00%(c)(d)

  $ 80       8,040,000  
   

 

 

 

Total Convertible Notes — 0.6%
(Cost: $8,000,000)

      8,040,000  
   

 

 

 
     Shares         

Preferred Securities

   
Preferred Stocks — 17.9%(c)(d)            
Chemicals — 0.6%            

Solugen, Inc., (Acquired 09/02/21, Cost: $9,999,977) .

    269,284       8,320,876  
   

 

 

 
Diversified Consumer Services — 0.3%            

Think & Learn Private Ltd., Series F, (Acquired 09/30/20, Cost: $3,052,975)

    1,054       4,955,295  
   

 

 

 
Diversified Financial Services — 0.7%            

Trumid Holdings LLC, Class L, (Acquired 09/15/21, Cost: $9,999,695)(g)

    11,420       9,703,346  
   

 

 

 
Entertainment — 0.4%            

Discord, Inc., Series I, (Acquired 09/13/21, Cost: $7,000,088)

    12,713       5,361,199  
   

 

 

 
Food & Staples Retailing — 1.1%            

Grubmarket, Inc., Series E, (Acquired 10/18/21, Cost: $6,999,994)

    709,724       16,089,443  
   

 

 

 
Food Products — 0.8%            

Farmer’s Business Network, Inc. (Acquired 09/15/21, Cost: $6,999,963)

    112,616       6,339,155  

Series F, (Acquired 07/31/20, Cost: $2,999,886)

    90,750       5,108,317  
   

 

 

 
   

 

 

 

11,447,472

 

 

Security   Shares     Value  
Interactive Media & Services — 1.0%            

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

    91,262     $ 14,702,999  
   

 

 

 
IT Services — 1.5%            

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

    493,493       2,852,389  

Trumid Holdings LLC(g)

   

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

    5,038       4,280,688  

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

    5,038       4,280,688  

Voltron Data, Inc., (Acquired 07/14/21, Cost: $5,000,000)

    9,090,909       10,909,091  
   

 

 

 
   

 

 

 

22,322,856

 

 

Road & Rail — 0.3%            

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

    275       4,133,115  
   

 

 

 
Semiconductors & Semiconductor Equipment — 3.4%  

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

    690,003       14,179,562  

PsiQuantum Corp., Series C, (Acquired 05/21/21, Cost: $5,000,025)

    190,650       4,913,050  

Rivos, Series A, (Acquired 12/03/21, Cost: $12,003,705)

    1,500,000       11,805,000  

SambaNova Systems, Inc., Series C, (Acquired 02/20/20, Cost: $9,972,125)

    187,300       18,879,840  
   

 

 

 
   

 

 

 

49,777,452

 

 

Software — 7.8%            

Bolt Financial Inc., Series E, (Acquired 01/18/22, Cost: $29,999,955)

    598,682       29,999,955  

Databricks, Inc.

   

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

    93,135       16,496,071  

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

    25,371       4,493,712  

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

    228,276       6,209,107  

Grammarly, Inc., Series 3, (Acquired 11/17/21, Cost: $6,249,992)

    238,441       6,294,842  

MNTN Digital, Inc., (Acquired 11/05/21, Cost: $24,999,980)

    1,088,598       21,336,521  

Patreon, Inc., Series D, (Acquired 07/14/21, Cost: $6,666,632)

    119,047       5,679,732  

Prosimo, Inc., Series B, (Acquired 11/04/21, Cost: $4,999,998)

    2,515,811       4,905,832  

Snorkel AI, Inc., Series C, (Acquired 06/30/21, Cost: $4,999,985)

    332,896       4,550,688  

Snyk Ltd., Series B, (Acquired 09/02/21, Cost: $4,807,688)

    335,159       4,223,003  

Unqork, Inc.

   

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

    281,080       6,737,488  

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

    47,600       1,140,972  
   

 

 

 
   

 

 

 

112,067,923

 

 

   

 

 

 
   

 

 

 

258,881,976

 

 

   

 

 

 

Total Preferred Securities — 17.9%
(Cost: $203,436,402)

      258,881,976  
   

 

 

 
 

 

 

O N S O L I D A T E D  C H E D U L E  O F   N V E S T M E N T S  

2


Consolidated Schedule of Investments (unaudited) (continued)

March 31, 2022

  

 

BlackRock Science and Technology Trust (BST)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Warrants

 

IT Services — 0.0%  

TRAX Ltd. (Expires 09/15/2023), (Acquired 09/12/19, Cost: $0)(c)(d)

    17,065     $ 94,199  
   

 

 

 

Total Warrants — 0.0%
(Cost: $ — )

      94,199  
   

 

 

 

Total Long-Term Investments — 100.4%
(Cost: $796,039,260)

      1,450,197,819  
   

 

 

 

Short-Term Securities

 

Money Market Funds — 0.8%  

BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.21%(h)(i)

    10,449,533       10,449,533  

SL Liquidity Series, LLC, Money Market Series, 0.43%(h)(i)(j)

    976,538       976,245  
   

 

 

 

Total Short-Term Securities — 0.8%
(Cost: $11,425,582)

 

    11,425,778  
   

 

 

 

Total Investments Before Options Written — 101.2%
(Cost: $807,464,842)

 

    1,461,623,597  
   

 

 

 

Options Written — (1.2)%
(Premiums Received: $(11,756,963))

      (16,674,962
   

 

 

 

Total Investments, Net of Options Written — 100.0%
(Cost: $795,707,879)

 

    1,444,948,635  

Liabilities in Excess of Other Assets — 0.0%

 

    (41,998
   

 

 

 

Net Assets — 100.0%

    $ 1,444,906,637  
   

 

 

 
(a)

Non-income producing security.

(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)

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 $418,840,220, representing 29.0% of its net assets as of period end, and an original cost of $325,687,041.

(e)

All or a portion of this security is on loan.

(f)

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.

(g)

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

(h)

Affiliate of the Trust.

(i)

Annualized 7-day yield as of period end.

(j)

All or a portion of this security was purchased with the cash collateral from loaned securities.

 

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, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer    Value at
12/31/21
     Purchases
at Cost
     Proceeds
from Sales
     Net
Realized
Gain (Loss)
     Change in
Unrealized
Appreciation
(Depreciation)
     Value at
03/31/22
     Shares
Held at
03/31/22
     Income      Capital Gain
Distributions
from
Underlying
Funds
 

BlackRock Liquidity Funds, T-Fund, Institutional Class

   $ 42,574,872      $      $ (32,125,339 )(a)     $      $      $ 10,449,533        10,449,533      $ 1,796      $  

SL Liquidity Series, LLC, Money Market Series

     840,396        136,447 (a)              (794      196        976,245        976,538        11,783 (b)        
           

 

 

    

 

 

    

 

 

       

 

 

    

 

 

 
            $ (794    $ 196      $ 11,425,778         $ 13,579      $  
           

 

 

    

 

 

    

 

 

       

 

 

    

 

 

 

 

  (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                                                   

Accenture PLC, Class A

     89          04/01/22        USD     335.00        USD     3,001        $     (32,485

Adobe, Inc.

     18          04/01/22        USD     470.00        USD     820          (666

Apple, Inc.

     23          04/01/22        USD     180.00        USD     402          (127

 

 

3

 


Consolidated Schedule of Investments (unaudited) (continued)

March 31, 2022

  

 

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)                                                   

Block, Inc.

     102          04/01/22        USD     140.00        USD     1,383        $ (8,874

Coinbase Global, Inc., Class A

     39          04/01/22        USD     195.00        USD     740          (4,388

MercadoLibre, Inc.

     8          04/01/22        USD     1,260.00        USD     952          (4,640

NVIDIA Corp.

     117          04/01/22        USD     280.00        USD     3,192          (9,828

ServiceNow, Inc.

     27          04/01/22        USD     625.00        USD     1,504          (1,080

Twilio, Inc., Class A

     90          04/01/22        USD     180.00        USD     1,483          (1,170

Zscaler, Inc.

     32          04/01/22        USD     260.00        USD     772          (368

Airbnb, Inc., Class A

     41          04/08/22        USD     170.00        USD     704          (23,780

Alphabet Inc., Class A

     20          04/08/22        USD     2,800.00        USD     5,563          (70,000

Apple, Inc.

     282          04/08/22        USD     170.00        USD     4,924          (160,035

Block, Inc.

     103          04/08/22        USD     120.00        USD     1,397          (174,842

Booking Holdings, Inc.

     6          04/08/22        USD     2,410.00        USD     1,409          (14,580

Crowdstrike Holdings, Inc., Class A

     27          04/08/22        USD     205.00        USD     613          (64,057

Marvell Technology Inc.

     388          04/08/22        USD     77.51        USD     2,782          (10,011

Mastercard, Inc., Class A

     39          04/08/22        USD     370.00        USD     1,394          (6,689

MercadoLibre, Inc.

     12          04/08/22        USD     1,210.00        USD     1,427          (37,080

MongoDB, Inc.

     12          04/08/22        USD     420.00        USD     532          (37,620

Okta, Inc.

     109          04/08/22        USD     195.00        USD     1,645          (2,834

PayPal Holdings, Inc.

     88          04/08/22        USD     115.00        USD     1,018          (29,040

Roku, Inc.

     41          04/08/22        USD     155.00        USD     514          (759

Snap, Inc., Class A

     154          04/08/22        USD     42.00        USD     554          (2,079

Snowflake, Inc., Class A

     25          04/08/22        USD     285.00        USD     573          (500

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

     295          04/08/22        USD     118.00        USD     3,076          (1,475

Tesla, Inc.

     45          04/08/22        USD     890.00        USD     4,849              (851,962

Unity Software, Inc.

     187          04/08/22        USD     115.00        USD     1,855          (6,078

Visa, Inc., Class A

     45          04/08/22        USD     225.00        USD     998          (9,540

Zscaler, Inc.

     31          04/08/22        USD     275.00        USD     748          (1,488

Zscaler, Inc.

     31          04/08/22        USD     260.00        USD     748          (5,255

Accenture PLC, Class A

     26          04/14/22        USD     325.00        USD     877          (39,390

Airbnb, Inc., Class A

     50          04/14/22        USD     165.00        USD     859          (51,250

Alphabet Inc., Class A

     18          04/14/22        USD     2,960.00        USD     5,006          (10,440

Amazon.com, Inc.

     7          04/14/22        USD     3,130.00        USD     2,282          (112,297

Analog Devices, Inc.

     82          04/14/22        USD     175.00        USD     1,354          (8,200

ANSYS, Inc.

     61          04/14/22        USD     340.00        USD     1,938          (16,013

Apple, Inc.

     426          04/14/22        USD     170.00        USD     7,438          (273,705

Applovin Corp., Class A

     191          04/14/22        USD     75.00        USD     1,052          (5,730

Atlassian Corp., PLC Class A

     97          04/14/22        USD     270.00        USD     2,850          (290,515

Avalara, Inc.

     190          04/14/22        USD     115.00        USD     1,891          (9,975

Block, Inc.

     78          04/14/22        USD     115.00        USD     1,058          (172,185

Cadence Design Systems, Inc.

     250          04/14/22        USD     154.00        USD     4,112          (297,720

CDW Corp.

     168          04/14/22        USD     191.00        USD     3,005          (10,833

CS Disco, Inc.

     270          04/14/22        USD     40.00        USD     917          (97,200

Elastic NV

     43          04/14/22        USD     105.00        USD     382          (1,720

Elastic NV

     105          04/14/22        USD     85.00        USD     934          (66,675

Gitlab, Inc., Class A

     586          04/14/22        USD     70.00        USD     3,191          (27,835

Globalfoundries Inc.

     275          04/14/22        USD     65.00        USD     1,717          (58,437

Lam Research Corp.

     64          04/14/22        USD     590.00        USD     3,441          (13,248

Lyft, Inc., Class A

     215          04/14/22        USD     40.00        USD     826          (17,308

Marvell Technology Inc.

     436          04/14/22        USD     85.00        USD     3,127          (3,924

Mastercard, Inc., Class A

     41          04/14/22        USD     355.00        USD     1,465          (38,130

Microsoft Corp.

     170          04/14/22        USD     330.00        USD     5,241          (10,625

MongoDB, Inc.

     16          04/14/22        USD     480.00        USD     710          (9,920

Monolithic Power Systems, Inc.

     101          04/14/22        USD     510.00        USD     4,905          (70,700

NVIDIA Corp.

     56          04/14/22        USD     265.00        USD     1,528          (83,300

Okta, Inc.

     44          04/14/22        USD     200.00        USD     664          (594

Roku, Inc.

     38          04/14/22        USD     160.00        USD     476          (1,387

salesforce.com, Inc.

     80          04/14/22        USD     240.00        USD     1,699          (1,320

ServiceNow, Inc.

     30          04/14/22        USD     600.00        USD     1,671          (13,050

Shopify, Inc., Class A

     14          04/14/22        USD     800.00        USD     946          (7,910

Snap, Inc., Class A

     210          04/14/22        USD     39.00        USD     756          (15,120

Tesla, Inc.

     17          04/14/22        USD     1,100.00        USD     1,832          (63,410

Thoughtworks Holding Inc.

     478          04/14/22        USD     30.00        USD     995          (14,340

 

 

O N S O L I D A T E D  C H E D U L E  O F   N V E S T M E N T S  

4


Consolidated Schedule of Investments (unaudited) (continued)

March 31, 2022

  

 

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)                                                   

Thoughtworks Holding Inc.

     269          04/14/22        USD     25.00        USD     560        $ (8,070

Twilio, Inc., Class A

     67          04/14/22        USD     195.00        USD     1,104          (4,322

Visa, Inc., Class A

     70          04/14/22        USD     210.00        USD     1,552          (91,700

Wolfspeed, Inc.

     93          04/14/22        USD     120.00        USD     1,059          (28,598

Wolfspeed, Inc.

     93          04/14/22        USD     115.00        USD     1,059          (39,990

ZoomInfo Technologies, Inc., Class A

     304          04/14/22        USD     60.00        USD     1,816          (72,200

Advanced Micro Devices, Inc.

     203          04/22/22        USD     126.00        USD     2,220          (17,560

Alphabet Inc., Class A

     13          04/22/22        USD     2,750.00        USD     3,616          (115,050

Amazon.com, Inc.

     15          04/22/22        USD     3,060.00        USD     4,890          (346,237

Analog Devices, Inc.

     75          04/22/22        USD     170.00        USD     1,239          (21,188

Apple, Inc.

     324          04/22/22        USD     170.00        USD     5,657          (264,870

Apple, Inc.

     23          04/22/22        USD     180.00        USD     402          (4,899

Atlassian PLC, Class A

     17          04/22/22        USD     285.00        USD     500          (36,295

Block, Inc.

     104          04/22/22        USD     140.00        USD     1,410          (70,200

Crowdstrike Holdings, Inc., Class A

     74          04/22/22        USD     205.00        USD     1,680          (193,510

Intuit, Inc.

     16          04/22/22        USD     500.00        USD     769          (12,080

Lyft, Inc., Class A

     88          04/22/22        USD     44.00        USD     338          (2,596

Marvell Technology Inc.

     208          04/22/22        USD     70.00        USD     1,492          (84,760

Mastercard, Inc., Class A

     48          04/22/22        USD     370.00        USD     1,715          (22,560

MercadoLibre, Inc.

     8          04/22/22        USD     1,080.00        USD     952          (108,600

Micron Technology, Inc.

     170          04/22/22        USD     80.00        USD     1,324          (39,610

Microsoft Corp.

     102          04/22/22        USD     300.00        USD     3,145          (138,210

PayPal Holdings, Inc.

     196          04/22/22        USD     110.00        USD     2,267          (164,640

Tesla, Inc.

     25          04/22/22        USD     935.00        USD     2,694          (392,562

Tesla, Inc.

     18          04/22/22        USD     1,075.00        USD     1,940          (110,115

Unity Software, Inc.

     53          04/22/22        USD     101.00        USD     526          (27,825

Visa, Inc., Class A

     169          04/22/22        USD     220.00        USD     3,748          (118,722

Zscaler, Inc.

     55          04/22/22        USD     220.00        USD     1,327          (145,475

Accenture PLC, Class A

     82          04/29/22        USD     345.00        USD     2,765          (44,280

Adobe, Inc.

     100          04/29/22        USD     460.00        USD     4,556          (144,500

Airbnb, Inc., Class A

     50          04/29/22        USD     180.00        USD     859          (27,125

Analog Devices, Inc.

     2          04/29/22        USD     160.00        USD     33          (1,830

Block, Inc.

     29          04/29/22        USD     120.00        USD     393          (57,637

Booking Holdings, Inc.

     10          04/29/22        USD     2,300.00        USD     2,348              (114,400

Coinbase Global, Inc., Class A

     20          04/29/22        USD     205.00        USD     380          (15,800

Lam Research Corp.

     68          04/29/22        USD     530.00        USD     3,656          (214,370

Lyft, Inc., Class A

     194          04/29/22        USD     40.00        USD     745          (29,003

Marvell Technology Inc.

     467          04/29/22        USD     73.00        USD     3,349          (133,562

MercadoLibre, Inc.

     10          04/29/22        USD     1,000.00        USD     1,189          (206,900

MongoDB, Inc.

     30          04/29/22        USD     450.00        USD     1,331          (75,600

NVIDIA Corp.

     81          04/29/22        USD     250.00        USD     2,210          (241,987

Okta, Inc.

     44          04/29/22        USD     175.00        USD     664          (8,426

Qualcomm, Inc.

     162          04/29/22        USD     170.00        USD     2,476          (32,562

Roku, Inc.

     41          04/29/22        USD     150.00        USD     514          (9,410

salesforce.com, Inc.

     60          04/29/22        USD     220.00        USD     1,274          (26,550

Shopify, Inc., Class A

     14          04/29/22        USD     680.00        USD     946          (75,320

Snap, Inc., Class A

     313          04/29/22        USD     34.00        USD     1,126          (141,632

Snowflake, Inc., Class A

     26          04/29/22        USD     195.00        USD     596          (102,830

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

     143          04/29/22        USD     110.00        USD     1,491          (25,669

Twilio, Inc., Class A

     140          04/29/22        USD     185.00        USD     2,307          (57,050

Unity Software, Inc.

     92          04/29/22        USD     110.00        USD     913          (28,244

Zscaler, Inc.

     46          04/29/22        USD     250.00        USD     1,110          (45,885

Advanced Micro Devices, Inc.

     143          05/06/22        USD     124.00        USD     1,564          (37,609

Amazon.com, Inc.

     4          05/06/22        USD     3,380.00        USD     1,304          (35,770

Analog Devices, Inc.

     73          05/06/22        USD     175.00        USD     1,206          (17,338

Crowdstrike Holdings, Inc., Class A

     91          05/06/22        USD     225.00        USD     2,066          (142,642

Intuit, Inc.

     101          05/06/22        USD     490.00        USD     4,856          (165,135

Lam Research Corp.

     43          05/06/22        USD     600.00        USD     2,312          (36,120

Lyft, Inc., Class A

     187          05/06/22        USD     43.00        USD     718          (19,542

Mastercard, Inc., Class A

     146          05/06/22        USD     385.00        USD     5,218          (59,495

Microsoft Corp.

     186          05/06/22        USD     320.00        USD     5,735          (113,460

Okta, Inc.

     38          05/06/22        USD     160.00        USD     574          (24,130

 

 

5

 


Consolidated Schedule of Investments (unaudited) (continued)

March 31, 2022

  

 

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)

                                                  

Snap, Inc., Class A

     150          05/06/22        USD     39.00        USD     540        $ (37,875

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

     252          05/06/22        USD     115.00        USD     2,627          (26,082

Tesla, Inc.

     45          05/06/22        USD     1,100.00        USD     4,849          (328,500

Zscaler, Inc.

     31          05/06/22        USD     265.00        USD     748          (20,770

Marvell Technology Inc.

     722          05/13/22        USD     77.00        USD     5,177          (184,471

Shopify, Inc., Class A

     6          05/13/22        USD     775.00        USD     406          (18,390

Advanced Micro Devices, Inc.

     119          05/20/22        USD     125.00        USD     1,301          (39,865

Alphabet Inc., Class A

     6          05/20/22        USD     2,820.00        USD     1,669          (61,710

Amazon.com, Inc.

     10          05/20/22        USD     3,200.00        USD     3,260          (194,125

ANSYS, Inc.

     70          05/20/22        USD     340.00        USD     2,224          (57,050

Apple, Inc.

     78          05/20/22        USD     170.00        USD     1,362          (77,220

Applovin Corp., Class A

     560          05/20/22        USD     55.00        USD     3,084          (344,400

Atlassian Corp., PLC Class A

     40          05/20/22        USD     330.00        USD     1,175          (48,200

Avalara, Inc.

     110          05/20/22        USD     90.00        USD     1,095          (156,200

Cadence Design Systems, Inc.

     130          05/20/22        USD     160.00        USD     2,138          (151,450

CDW Corp.

     35          05/20/22        USD     190.00        USD     626          (12,338

Coinbase Global, Inc., Class A

     10          05/20/22        USD     200.00        USD     190          (14,850

CS Disco, Inc.

     537          05/20/22        USD     35.00        USD     1,824              (204,060

Elastic NV

     105          05/20/22        USD     90.00        USD     934          (71,400

Globalfoundries Inc.

     360          05/20/22        USD     85.00        USD     2,247          (45,000

Lam Research Corp.

     28          05/20/22        USD     565.00        USD     1,505          (59,570

Lyft, Inc., Class A

     175          05/20/22        USD     42.50        USD     672          (26,950

Marvell Technology Inc.

     517          05/20/22        USD     80.00        USD     3,707          (96,679

Mastercard, Inc., Class A

     36          05/20/22        USD     345.00        USD     1,287          (86,490

Micron Technology, Inc.

     180          05/20/22        USD     87.50        USD     1,402          (32,850

Microsoft Corp.

     135          05/20/22        USD     315.00        USD     4,162          (129,262

MongoDB, Inc.

     63          05/20/22        USD     400.00        USD     2,795          (398,790

Monolithic Power Systems, Inc.

     44          05/20/22        USD     500.00        USD     2,137          (125,840

Okta, Inc.

     43          05/20/22        USD     170.00        USD     649          (20,640

PayPal Holdings, Inc.

     144          05/20/22        USD     130.00        USD     1,665          (43,200

Roku, Inc.

     55          05/20/22        USD     135.00        USD     689          (58,850

S&P Global, Inc.

     66          05/20/22        USD     420.00        USD     2,707          (72,270

salesforce.com, Inc.

     104          05/20/22        USD     230.00        USD     2,208          (38,220

ServiceNow, Inc.

     59          05/20/22        USD     580.00        USD     3,286          (165,790

Snap, Inc., Class A

     155          05/20/22        USD     42.00        USD     558          (30,225

Tesla, Inc.

     17          05/20/22        USD     1,025.00        USD     1,832          (205,232

Thoughtworks Holding Inc.

     746          05/20/22        USD     22.50        USD     1,552          (91,385

Unity Software, Inc.

     107          05/20/22        USD     95.00        USD     1,062          (135,087

Wolfspeed, Inc.

     94          05/20/22        USD     125.00        USD     1,070          (52,640

ZoomInfo Technologies, Inc.

     404          05/20/22        USD     70.00        USD     2,413          (62,620

Marvell Technology Inc.

     320          06/17/22        USD     80.00        USD     2,295          (100,480
                          

 

 

 
                          

 

$

 

  (12,809,019

 

                          

 

 

 

OTC Options Written

 

Description    Counterparty    Number of
Contracts
     Expiration
Date
     Exercise Price     

Notional

Amount (000)

     Value  
Call                                                

Kakao Corp.

   Morgan Stanley & Co. International PLC      41,600        04/01/22      USD     90,467.67      USD     4,430,400      $   (549,634

Renesas Electronics Corp.

   JPMorgan Chase Bank N.A.      380,900        04/01/22      JPY     1,386.47      JPY     545,449        (107,682

Kakao Corp.

   JPMorgan Chase Bank N.A.      55,500        04/06/22      USD     93,169.44      USD     5,910,750        (610,748

Wolfspeed, Inc.

   Citibank N.A.      9,300        04/06/22      USD     105.90      USD     1,059        (82,320

Adyen NV

   Credit Suisse International      1,800        04/07/22      EUR     1,816.42      EUR     3,256        (93,436

Alphawave IP Group PLC.

   Goldman Sachs International      84,200        04/07/22      GBP     1.74      GBP     148        (10,667

Soitec SA

   Goldman Sachs International      1,900        04/07/22      EUR     139.69      EUR     325        (62,825

Samsung SDI Co. Ltd.

   JPMorgan Chase Bank N.A.      8,900        04/20/22      USD     581,319.65      USD     5,304,400        (230,232

Soitec SA

   UBS AG      7,700        04/20/22      EUR     169.02      EUR     1,317        (61,087

Gmo Payment Gateway Inc.

   Goldman Sachs International      8,100        04/21/22      JPY     12,268.72      JPY     101,898        (50,091

Wolfspeed, Inc.

   Barclays Bank PLC      26,000        04/21/22      USD     108.34      USD     2,960        (229,972

Xero Ltd.

   UBS AG      48,800        04/21/22      AUD     105.16      AUD     5,014        (112,619

 

 

O N S O L I D A T E D  C H E D U L E  O F   N V E S T M E N T S  

6


Consolidated Schedule of Investments (unaudited) (continued)

March 31, 2022

  

 

BlackRock Science and Technology Trust (BST)

 

OTC Options Written (continued)

 

             
Description    Counterparty      Number of
Contracts
       Expiration
Date
       Exercise Price       

Notional

Amount (000)

       Value  

Call (continued)

                               

Alphawave IP Group PLC

   UBS AG        60,000          04/26/22          GBP       1.57          GBP       106        $ (20,901

Asml Holding NV

   Goldman Sachs International        10,900          04/27/22          EUR       572.96          EUR       6,649          (536,725

Gmo Payment Gateway Inc.

   UBS AG        8,800          04/27/22          JPY       10,943.86          JPY       110,704          (120,468

Renesas Electronics Corp.

   BNP Paribas S.A.        119,500          04/27/22          JPY       1,372.25          JPY       171,124          (85,422

Soitec SA

   Morgan Stanley & Co. International PLC        4,500          04/27/22          EUR       136.31          EUR       770          (167,990

Stmicroelectronics NV

   Goldman Sachs International        26,200          04/27/22          EUR       36.22          EUR       1,037          (110,859

Yahoo Japan Corp.

   JPMorgan Chase Bank N.A.        246,000          04/27/22          JPY       524.38          JPY       131,954          (54,065

Yahoo Japan Corp.

   JPMorgan Chase Bank N.A.        509,000          05/02/22          JPY       536.42          JPY       273,028          (69,127

Stmicroelectronics NV

   Goldman Sachs International        40,400          05/04/22          EUR       40.51          EUR       1,599          (55,438

Asml Holding NV

   Goldman Sachs International        6,700          05/05/22          EUR       658.80          EUR       4,087          (51,162

Soitec SA

   Morgan Stanley & Co. International PLC        1,700          05/05/22          EUR       182.43          EUR       291          (7,483

Wolfspeed, Inc.

   BNP Paribas S.A.        7,000          05/05/22          USD       105.84          USD       797          (91,530

Gmo Payment Gateway Inc.

   JPMorgan Chase Bank N.A.        16,400          05/06/22          JPY       12,453.00          JPY       206,312          (118,107

Soitec SA

   Morgan Stanley & Co. International PLC        9,000          05/13/22          EUR       185.82          EUR       1,540          (39,939

Stmicroelectronics NV

   Credit Suisse International        32,900          05/13/22          EUR       44.03          EUR       1,303          (17,829

Soitec SA

   Morgan Stanley & Co. International PLC        2,100          05/18/22          EUR       183.39          EUR       359          (12,163

Thoughtworks Holding Inc.

   Bank of America N.A.        26,800          06/03/22          USD       22.36          USD       558          (44,412

ZoomInfo Technologies, Inc.

   JPMorgan Chase Bank N.A.        18,100          06/10/22          USD       65.62          USD       1,081          (61,010
                               

 

 

 
                               

 

$

 

(3,865,943

 

                               

 

 

 

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 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.

Certain investments of the Trust were fair valued using net asset value (“NAV”) per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

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 Consolidated Schedule of Investments above.

 

         
      Level 1        Level 2        Level 3        Total  

Assets

                 

Investments

                 

Long-Term Investments

                 

Common Stocks

                 

Automobiles

   $     40,193,892        $        $        $     40,193,892  

Capital Markets

     10,679,657                            10,679,657  

Diversified Consumer Services

                           4,687,314          4,687,314  

Electronic Equipment, Instruments & Components

     9,696,196              11,558,392                   21,254,588  

 

 

7

 


Consolidated Schedule of Investments (unaudited) (continued)

March 31, 2022

  

 

BlackRock Science and Technology Trust (BST)

 

Fair Value Hierarchy as of Period End (continued)

 

      Level 1        Level 2     Level 3        Total  

Common Stocks (continued)

              

Entertainment

   $ 5,858,502        $     $        $ 5,858,502  

Hotels, Restaurants & Leisure

     17,033,977                         17,033,977  

Interactive Media & Services

     66,254,918          31,226,098                97,481,016  

Internet & Direct Marketing Retail

     47,730,557                236,096          47,966,653  

Internet Software & Services

                    9,923,096          9,923,096  

IT Services

     158,729,715          27,733,128       76,663,665          263,126,508  

Professional Services

              5,080,000                5,080,000  

Road & Rail

     8,798,093                6,337,198          15,135,291  

Semiconductors & Semiconductor Equipment

     179,739,013          79,311,578                259,050,591  

Software

     254,661,098          18,492,758       31,790,149          304,944,005  

Technology Hardware, Storage & Peripherals

     80,766,554                         80,766,554  

Convertible Notes

                    8,040,000          8,040,000  

Preferred Securities

              

Preferred Stocks

                    258,881,976          258,881,976  

Warrants

                    94,199          94,199  

Short-Term Securities

              

Money Market Funds

     10,449,533                         10,449,533  
  

 

 

      

 

 

   

 

 

      

 

 

 
   $ 890,591,705        $ 173,401,954     $ 396,653,693          1,460,647,352  
  

 

 

      

 

 

   

 

 

      

 

 

 

Investments Valued at NAV(a)

                 976,245  
              

 

 

 
               $ 1,461,623,597  
              

 

 

 

Derivative Financial Instruments(b)

              

Liabilities

              

Equity Contracts

   $ (12,490,455      $   (4,184,507)    $        $ (16,674,962
  

 

 

      

 

 

   

 

 

      

 

 

 

 

  (a)

Certain investments of the Trust were fair valued using NAV per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

 
  (b)

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 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
     Convertible
Notes
     Preferred
Stocks
     Warrants      Total  

Assets

              

Opening balance, as of December 31, 2021

   $ 119,431,663      $ 8,000,000      $ 240,189,562      $ 117,749      $ 367,738,974  

Transfers into Level 3.

                                  

Transfers out of Level 3

                                  

Accrued discounts/premiums

                                  

Net realized gain (loss)

                                  

Net change in unrealized appreciation (depreciation)(a)

     205,857        40,000        (5,903,042      (23,550      (5,680,735

Purchases

     9,999,998               29,999,955               39,999,953  

Sales

                   (5,404,499             (5,404,499

Closing balance, as of March 31, 2022

   $ 129,637,518      $ 8,040,000      $ 258,881,976      $ 94,199      $ 396,653,693  

Net change in unrealized appreciation (depreciation) on investments still held at March 31, 2022(a)

   $ 205,857      $ 40,000      $ (2,931,844    $ (23,550    $ (2,709,537

 

  (a)

Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at March 31, 2022 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 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 Based
on Fair Value
 

Assets

              

Common Stocks

   $ 129,637,518        Market        Revenue Multiple        3.50 - 30.00x        19.82x  
           Volatility        38% - 75%        60%  
           Time to Exit        0.5 - 4.0        2.6  

 

 

O N S O L I D A T E D  C H E D U L E  O F   N V E S T M E N T S  

8


Consolidated Schedule of Investments (unaudited) (continued)

March 31, 2022

  

 

BlackRock Science and Technology Trust (BST)

 

      Value      Valuation
Approach
  

Unobservable

Inputs

  

Range of

Unobservable
Inputs
Utilized(a)

    

Weighted
Average of

Unobservable
Inputs Based
on Fair Value

 

Convertible Notes

   $ 8,040,000      Market    Discount      21%         
         Volatility      60%         
         Revenue Multiple      4.25x         

Preferred Stocks

     258,881,976      Market    Revenue Multiple      3.00x - 30.00x        17.40x  
         Volatility      50% - 75%        62%  
         Time to Exit      4.0 - 5.0        4.3  
         Recent Transactions      $ 22.67         

Warrants

     94,199      Market    Volatility      38%         
         Time to Exit

 

    

 

0.5

 

 

 

    

 

 

 

 

  

 

 

             
   $       396,653,693              
  

 

 

             

 

  (a) 

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

 

 

Currency Abbreviation
AUD    Australian Dollar
EUR    Euro
GBP    British Pound
JPY    Japanese Yen
USD    United States Dollar
Portfolio Abbreviation
ADR    American Depositary Receipt
S&P    Standard & Poor’s

 

 

9