NPORT-EX 2 U.S.EquityFactorRotationETF.htm BlackRock U.S. Equity Factor Rotation ETF

Schedule of Investments  (unaudited) 

October 31, 2019

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

 

Aerospace & Defense — 1.2%  

Arconic Inc.

     1,545     $ 42,441  

Boeing Co. (The)

     22       7,478  

General Dynamics Corp.

     52       9,194  

HEICO Corp.

     64       7,894  

HEICO Corp., Class A

     120       11,432  

Huntington Ingalls Industries Inc.

     290       65,441  

L3Harris Technologies Inc.

     620       127,912  

Lockheed Martin Corp.

     381       143,515  

Northrop Grumman Corp.

     78       27,494  

Raytheon Co.

     358       75,971  

Spirit AeroSystems Holdings Inc., Class A

     295       24,137  

Textron Inc.

     167       7,697  

TransDigm Group Inc.

     59       31,051  

United Technologies Corp.

     754       108,259  
   

 

 

  
      689,916  
Air Freight & Logistics — 0.7%            

CH Robinson Worldwide Inc.

     1,296       98,030  

Expeditors International of Washington Inc.

     1,784       130,125  

FedEx Corp.

     861       131,440  

United Parcel Service Inc., Class B

     171       19,694  

XPO Logistics Inc.(a)

     136       10,390  
   

 

 

  
        389,679  
Airlines — 0.5%            

American Airlines Group Inc.

     1,201       36,102  

Delta Air Lines Inc.

     1,760       96,941  

Southwest Airlines Co.

     1,252       70,275  

United Airlines Holdings Inc.(a)

     761       69,129  
   

 

 

  
      272,447  
Auto Components — 0.2%            

Aptiv PLC

     121       10,835  

Autoliv Inc.

     142       11,053  

BorgWarner Inc.

     1,020       42,514  

Lear Corp.

     592       69,720  
   

 

 

  
      134,122  
Automobiles — 0.9%            

Ford Motor Co.

     22,239       191,033  

General Motors Co.

     8,786       326,488  

Harley-Davidson Inc.

     256       9,961  

Tesla Inc.(a)(b)

     36       11,337  
   

 

 

  
      538,819  
Banks — 2.0%            

Bank of America Corp.

     12,828       401,131  

BB&T Corp.

     400       21,220  

CIT Group Inc.

     290       12,438  

Citigroup Inc.

     4,729       339,826  

Citizens Financial Group Inc.

     1,085       38,149  

Comerica Inc.

     140       9,159  

East West Bancorp. Inc.

     1,152       49,444  

Fifth Third Bancorp.

     314       9,131  

First Republic Bank/CA

     86       9,147  

Huntington Bancshares Inc./OH

     636       8,987  

JPMorgan Chase & Co.

     140       17,489  

KeyCorp.

     481       8,644  

M&T Bank Corp.

     336       52,594  

People’s United Financial Inc.

     632       10,219  

PNC Financial Services Group Inc. (The)

     85       12,469  

Regions Financial Corp.

     1,548       24,923  
Security   Shares     Value  
Banks (continued)        

Signature Bank/New York NY

     69     $ 8,164  

SunTrust Banks Inc.

     157       10,729  

SVB Financial Group(a)

     37       8,195  

U.S. Bancorp

     1,894       107,996  

Wells Fargo & Co.

     414       21,375  

Zions Bancorp. N.A.

     213       10,324  
   

 

 

  
      1,191,753  
Beverages — 2.3%            

Brown-Forman Corp., Class B, NVS

     1,142       74,824  

Coca-Cola Co. (The)

     5,617       305,733  

Constellation Brands Inc., Class A

     36       6,852  

Molson Coors Brewing Co., Class B

     1,414       74,546  

Monster Beverage Corp.(a)

     1,160       65,111  

PepsiCo Inc.

     5,884       807,108  
   

 

 

  
      1,334,174  
Biotechnology — 2.1%            

AbbVie Inc.

     103       8,194  

Alexion Pharmaceuticals Inc.(a)

     68       7,167  

Alkermes PLC(a)

     404       7,890  

Alnylam Pharmaceuticals Inc.(a)

     129       11,189  

Amgen Inc.

     1,611       343,546  

Biogen Inc.(a)

     843       251,813  

BioMarin Pharmaceutical Inc.(a)

     113       8,273  

Celgene Corp.(a)

     2,612       282,174  

Exact Sciences Corp.(a)

     81       7,047  

Gilead Sciences Inc.

     3,263       207,886  

Incyte Corp.(a)

     106       8,895  

Ionis Pharmaceuticals Inc.(a)

     116       6,464  

Regeneron Pharmaceuticals Inc.(a)

     230       70,444  

Sarepta Therapeutics Inc.(a)

     70       5,814  

Seattle Genetics Inc.(a)

     134       14,392  

Vertex Pharmaceuticals Inc.(a)

     126       24,630  
   

 

 

  
        1,265,818  
Building Products — 0.5%            

Allegion PLC

     560       64,982  

AO Smith Corp.

     887       44,066  

Fortune Brands Home & Security Inc.

     156       9,368  

Johnson Controls International PLC

     2,356       102,086  

Lennox International Inc.

     56       13,852  

Masco Corp.

     181       8,371  

Owens Corning

     865       53,007  
   

 

 

  
      295,732  
Capital Markets — 2.9%            

Affiliated Managers Group Inc.

     113       9,026  

Ameriprise Financial Inc.

     1,094       165,074  

Bank of New York Mellon Corp. (The)

     385       17,999  

Cboe Global Markets Inc.

     106       12,206  

Charles Schwab Corp. (The)

     358       14,574  

CME Group Inc.

     522       107,402  

E*TRADE Financial Corp.

     283       11,827  

Eaton Vance Corp., NVS

     1,144       52,166  

FactSet Research Systems Inc.

     437       110,788  

Franklin Resources Inc.

     2,587       71,272  

Goldman Sachs Group Inc. (The)

     744       158,755  

Intercontinental Exchange Inc.

     407       38,388  

Invesco Ltd.

     1,463       24,608  

KKR & Co. Inc., Class A, NVS

     345       9,946  

MarketAxess Holdings Inc.

     439       161,811  

Moody’s Corp.

     212       46,786  
 

 

1

Schedule of Investments  (unaudited) (continued)

October 31, 2019

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Capital Markets (continued)  

Morgan Stanley

     2,514     $ 115,770  

MSCI Inc.

     163       38,233  

Nasdaq Inc.

     178       17,759  

Northern Trust Corp.

     206       20,534  

Raymond James Financial Inc.

     209       17,449  

S&P Global Inc.

     73       18,833  

SEI Investments Co.

     1,554       93,116  

State Street Corp.

     264       17,443  

T Rowe Price Group Inc.

     2,355       272,709  

TD Ameritrade Holding Corp.

     2,140       82,133  
   

 

 

  
        1,706,607  
Chemicals — 1.6%            

Air Products & Chemicals Inc.

     1,111       236,932  

Albemarle Corp.

     135       8,200  

Axalta Coating Systems Ltd.(a)

     296       8,729  

Celanese Corp.

     493       59,727  

CF Industries Holdings Inc.

     194       8,798  

Corteva Inc.(a)

     85       2,242  

Dow Inc.(a)

     170       8,583  

DuPont de Nemours Inc.

     107       7,052  

Eastman Chemical Co.

     483       36,727  

Ecolab Inc.

     916       175,936  

FMC Corp.

     102       9,333  

International Flavors & Fragrances Inc.

     250       30,503  

Linde PLC

     42       8,331  

LyondellBasell Industries NV, Class A

     2,184       195,905  

Mosaic Co. (The)

     1,443       28,687  

PPG Industries Inc.

     695       86,958  

Sherwin-Williams Co. (The)

     17       9,729  

Westlake Chemical Corp.

     230       14,534  
   

 

 

  
      936,906  
Commercial Services & Supplies — 1.5%  

Cintas Corp.

     34       9,135  

Copart Inc.(a)

     1,329       109,828  

Republic Services Inc.

     3,313       289,921  

Rollins Inc.

     1,073       40,892  

Waste Connections Inc.

     1,367       126,311  

Waste Management Inc.

     2,938       329,673  
   

 

 

  
      905,760  
Communications Equipment — 1.2%  

Arista Networks Inc.(a)

     33       8,071  

Cisco Systems Inc.

     6,385       303,351  

F5 Networks Inc.(a)

     505       72,760  

Juniper Networks Inc.

     2,241       55,622  

Motorola Solutions Inc.

     1,540       256,133  
   

 

 

  
      695,937  
Construction & Engineering — 0.2%  

Fluor Corp.

     917       14,773  

Jacobs Engineering Group Inc.

     834       78,046  
   

 

 

  
      92,819  
Construction Materials — 0.0%  

Martin Marietta Materials Inc.

     40       10,476  

Vulcan Materials Co.

     69       9,858  
   

 

 

  
      20,334  
Consumer Finance — 0.4%  

Ally Financial Inc.

     1,439       44,077  

American Express Co.

     146       17,123  

Capital One Financial Corp.

     1,310       122,157  
Security   Shares     Value  
Consumer Finance (continued)  

Discover Financial Services

     184     $ 14,768  

Synchrony Financial

     378       13,370  
   

 

 

  
      211,495  
Containers & Packaging — 0.4%  

Amcor PLC(a)

     887       8,444  

Avery Dennison Corp.

     332       42,450  

Ball Corp.

     669       46,810  

Crown Holdings Inc.(a)

     200       14,568  

International Paper Co.

     1,044       45,602  

Packaging Corp. of America

     381       41,704  

Sealed Air Corp.

     340       14,202  

Westrock Co.

     1,165       43,536  
   

 

 

  
      257,316  
Distributors — 0.1%            

Genuine Parts Co.

     419       42,981  

LKQ Corp.(a)

     309       10,503  
   

 

 

  
      53,484  
Diversified Consumer Services — 0.0%  

H&R Block Inc.

     364       9,096  
   

 

 

  
Diversified Financial Services — 0.3%  

AXA Equitable Holdings Inc.

     1,300       28,080  

Berkshire Hathaway Inc., Class B(a)

     593       126,060  

Jefferies Financial Group Inc.

     1,012       18,894  

Voya Financial Inc.

     623       33,617  
   

 

 

  
      206,651  
Diversified Telecommunication Services — 3.1%  

AT&T Inc.

     37,384       1,438,910  

CenturyLink Inc.

     5,451       70,536  

Verizon Communications Inc.

     4,881       295,154  

Zayo Group Holdings Inc.(a)

     1,287       43,938  
   

 

 

  
        1,848,538  
Electric Utilities — 3.5%            

Alliant Energy Corp.

     527       28,110  

American Electric Power Co. Inc.

     1,522       143,662  

Duke Energy Corp.

     3,029       285,514  

Edison International

     591       37,174  

Entergy Corp.

     513       62,319  

Evergy Inc.

     1,166       74,519  

Eversource Energy

     938       78,548  

Exelon Corp.

     4,324       196,699  

FirstEnergy Corp.

     178       8,601  

NextEra Energy Inc.

     1,248       297,448  

OGE Energy Corp.

     3,907       168,235  

Pinnacle West Capital Corp.

     2,064       194,264  

PPL Corp.

     1,278       42,800  

Southern Co. (The)

     3,568       223,571  

Xcel Energy Inc.

     3,845       244,196  
   

 

 

  
      2,085,660  
Electrical Equipment — 0.6%            

Acuity Brands Inc.

     60       7,487  

AMETEK Inc.

     273       25,021  

Eaton Corp. PLC

     1,503       130,926  

Emerson Electric Co.

     185       12,978  

Rockwell Automation Inc.

     898       154,447  

Sensata Technologies Holding PLC(a)

     149       7,627  
   

 

 

  
      338,486  
 

 

2

Schedule of Investments  (unaudited) (continued)

October 31, 2019

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Electronic Equipment, Instruments & Components — 0.9%  

Amphenol Corp., Class A

     1,706     $ 171,163  

Arrow Electronics Inc.(a)

     523       41,463  

CDW Corp./DE

     172       22,001  

Cognex Corp.

     189       9,732  

Corning Inc.

     3,151       93,364  

Flex Ltd.(a)

     3,702       43,498  

FLIR Systems Inc.

     687       35,422  

IPG Photonics Corp.(a)

     62       8,325  

Keysight Technologies Inc.(a)

     315       31,787  

TE Connectivity Ltd.

     693       62,023  

Trimble Inc.(a)

     189       7,530  

Zebra Technologies Corp., Class A(a)

     42       9,991  
   

 

 

  
        536,299  
Energy Equipment & Services — 0.1%  

Baker Hughes Co.

     1,622       34,711  

Halliburton Co.

     211       4,062  

Helmerich & Payne Inc.

     148       5,550  

National Oilwell Varco Inc.

     362       8,188  

Schlumberger Ltd.

     288       9,414  

TechnipFMC PLC

     323       6,373  
   

 

 

  
      68,298  
Entertainment — 1.6%            

Activision Blizzard Inc.

     1,453       81,411  

Electronic Arts Inc.(a)

     85       8,194  

Liberty Media Corp.-Liberty Formula One, Class C, NVS(a)(b)

     228       9,690  

Live Nation Entertainment Inc.(a)

     235       16,567  

Netflix Inc.(a)

     21       6,036  

Roku Inc.(a)

     62       9,126  

Take-Two Interactive Software Inc.(a)

     76       9,147  

Viacom Inc., Class B, NVS

     2,262       48,769  

Walt Disney Co. (The)

     5,714       742,363  
   

 

 

  
      931,303  
Equity Real Estate Investment Trusts (REITs) — 4.8%  

Alexandria Real Estate Equities Inc.

     51       8,096  

American Tower Corp.

     1,113       242,723  

AvalonBay Communities Inc.

     1,170       254,662  

Boston Properties Inc.

     66       9,055  

Camden Property Trust

     859       98,244  

Crown Castle International Corp.

     1,326       184,036  

Digital Realty Trust Inc.

     149       18,929  

Duke Realty Corp.

     660       23,192  

Equinix Inc.

     53       30,039  

Equity LifeStyle Properties Inc.

     182       12,729  

Equity Residential

     2,030       179,980  

Essex Property Trust Inc.

     270       88,325  

Extra Space Storage Inc.

     431       48,388  

Federal Realty Investment Trust

     84       11,425  

Healthpeak Properties Inc.

     291       10,947  

Host Hotels & Resorts Inc.

     14,654       240,179  

Invitation Homes Inc.

     1,246       38,364  

Iron Mountain Inc.

     240       7,872  

Kimco Realty Corp.

     1,449       31,241  

Liberty Property Trust

     171       10,101  

Macerich Co. (The)

     258       7,095  

Mid-America Apartment Communities Inc.

     436       60,600  

National Retail Properties Inc.

     1,330       78,350  

Prologis Inc.

     1,561       136,993  

Public Storage

     1,415       315,347  

Realty Income Corp.

     1,980       161,944  
Security   Shares     Value  
Equity Real Estate Investment Trusts (REITs) (continued)  

Regency Centers Corp.

     141     $ 9,481  

SBA Communications Corp.

     298       71,714  

Simon Property Group Inc.

     901       135,763  

SL Green Realty Corp.

     123       10,283  

Sun Communities Inc.

     113       18,380  

UDR Inc.

     1,928       96,882  

Ventas Inc.

     653       42,510  

VEREIT Inc.

     1,013       9,968  

Vornado Realty Trust

     151       9,910  

Welltower Inc.

     1,087       98,580  

Weyerhaeuser Co.

     384       11,217  

WP Carey Inc.

     207       19,056  
   

 

 

  
        2,842,600  
Food & Staples Retailing — 1.6%            

Costco Wholesale Corp.

     1,137       337,814  

Kroger Co. (The)

     4,784       117,878  

Sysco Corp.

     1,004       80,189  

Walgreens Boots Alliance Inc.

     5,231       286,554  

Walmart Inc.

     1,173       137,546  
   

 

 

  
      959,981  
Food Products — 2.4%            

Archer-Daniels-Midland Co.

     223       9,375  

Bunge Ltd.

     340       18,360  

Campbell Soup Co.

     1,325       61,361  

Conagra Brands Inc.

     280       7,574  

General Mills Inc.

     805       40,942  

Hershey Co. (The)

     1,721       252,763  

Hormel Foods Corp.

     3,108       127,086  

Ingredion Inc.

     549       43,371  

JM Smucker Co. (The)

     1,030       108,850  

Kellogg Co.

     1,578       100,250  

Kraft Heinz Co. (The)

     3,793       122,628  

Lamb Weston Holdings Inc.

     1,329       103,715  

McCormick & Co. Inc./MD, NVS

     691       111,037  

Mondelez International Inc., Class A

     3,028       158,819  

Tyson Foods Inc., Class A

     2,078       172,038  
   

 

 

  
      1,438,169  
Gas Utilities — 0.4%            

Atmos Energy Corp.

     2,226       250,381  

UGI Corp.

     160       7,627  
   

 

 

  
      258,008  
Health Care Equipment & Supplies — 2.7%  

Abbott Laboratories

     1,877       156,936  

ABIOMED Inc.(a)

     31       6,435  

Align Technology Inc.(a)

     240       60,550  

Baxter International Inc.

     1,843       141,358  

Becton Dickinson and Co.

     324       82,944  

Boston Scientific Corp.(a)

     713       29,732  

Cooper Companies Inc. (The)

     216       62,856  

Danaher Corp.

     1,643       226,438  

Dentsply Sirona Inc.

     159       8,710  

DexCom Inc.(a)

     68       10,488  

Edwards Lifesciences Corp.(a)

     707       168,535  

Hologic Inc.(a)

     171       8,261  

IDEXX Laboratories Inc.(a)

     23       6,555  

Intuitive Surgical Inc.(a)

     253       139,896  

Medtronic PLC

     1,893       206,148  

ResMed Inc.

     418       61,830  

Steris PLC

     120       16,988  
 

 

3

Schedule of Investments  (unaudited) (continued)

October 31, 2019

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Health Care Equipment & Supplies (continued)  

Stryker Corp.

     589     $ 127,383  

Teleflex Inc.

     26       9,033  

Varian Medical Systems Inc.(a)

     302       36,485  

Zimmer Biomet Holdings Inc.

     147       20,320  
   

 

 

  
      1,587,881  
Health Care Providers & Services — 2.0%  

AmerisourceBergen Corp.

     381       32,530  

Anthem Inc.

     752       202,348  

Cardinal Health Inc.

     980       48,461  

Centene Corp.(a)

     874       46,392  

Cigna Corp.(a)

     873       155,796  

CVS Health Corp.

     3,516       233,427  

DaVita Inc.(a)

     400       23,440  

HCA Healthcare Inc.

     60       8,012  

Henry Schein Inc.(a)

     274       17,148  

Humana Inc.

     223       65,607  

Laboratory Corp. of America Holdings(a)

     49       8,074  

McKesson Corp.

     613       81,529  

Quest Diagnostics Inc.

     207       20,959  

UnitedHealth Group Inc.

     479       121,043  

Universal Health Services Inc., Class B

     570       78,352  

WellCare Health Plans Inc.(a)

     77       22,838  
   

 

 

  
      1,165,956  
Health Care Technology — 0.1%  

Cerner Corp.

     269       18,055  

Veeva Systems Inc., Class A(a)

     449       63,682  
   

 

 

  
      81,737  
Hotels, Restaurants & Leisure — 1.8%  

Aramark

     268       11,728  

Carnival Corp.

     1,690       72,484  

Chipotle Mexican Grill Inc.(a)

     33       25,679  

Darden Restaurants Inc.

     851       95,542  

Domino’s Pizza Inc.

     27       7,334  

Hilton Worldwide Holdings Inc.

     87       8,436  

Las Vegas Sands Corp.

     149       9,214  

Marriott International Inc./MD, Class A

     55       6,960  

McDonald’s Corp.

     1,386       272,626  

MGM Resorts International

     282       8,037  

Norwegian Cruise Line Holdings Ltd.(a)

     711       36,090  

Royal Caribbean Cruises Ltd.

     329       35,805  

Starbucks Corp.

     2,707       228,904  

Vail Resorts Inc.

     39       9,063  

Wynn Resorts Ltd.

     56       6,795  

Yum! Brands Inc.

     2,561       260,479  
   

 

 

  
        1,095,176  
Household Durables — 0.8%            

DR Horton Inc.

     893       46,766  

Garmin Ltd.

     728       68,250  

Leggett & Platt Inc.

     214       10,978  

Lennar Corp., Class A

     1,235       73,606  

Mohawk Industries Inc.(a)

     222       31,830  

Newell Brands Inc.

     2,342       44,428  

NVR Inc.(a)

     27       98,188  

PulteGroup Inc.

     1,036       40,653  

Whirlpool Corp.

     293       44,571  
   

 

 

  
      459,270  
Household Products — 1.4%            

Church & Dwight Co. Inc.

     1,276       89,243  

Clorox Co. (The)

     647       95,555  
Security   Shares     Value  
Household Products (continued)  

Colgate-Palmolive Co.

     918     $ 62,975  

Kimberly-Clark Corp.

     763       101,388  

Procter & Gamble Co. (The)

     3,948       491,566  
   

 

 

  
      840,727  
Independent Power and Renewable Electricity Producers — 0.1%  

AES Corp./VA

     2,211       37,698  

NRG Energy Inc.

     237       9,508  

Vistra Energy Corp.

     1,334       36,058  
   

 

 

  
      83,264  
Industrial Conglomerates — 1.3%  

3M Co.

     3,300       544,467  

General Electric Co.

     842       8,403  

Honeywell International Inc.

     1,018       175,839  

Roper Technologies Inc.

     117       39,425  
   

 

 

  
      768,134  
Insurance — 6.3%            

Aflac Inc.

     7,876       418,688  

Alleghany Corp.(a)

     39       30,353  

Allstate Corp. (The)

     1,368       145,583  

American Financial Group Inc./OH

     212       22,057  

American International Group Inc.

     2,992       158,456  

Aon PLC

     1,006       194,319  

Arch Capital Group Ltd.(a)

     4,527       189,048  

Arthur J Gallagher & Co.

     1,573       143,489  

Assurant Inc.

     91       11,473  

Athene Holding Ltd., Class A(a)

     466       20,201  

Brighthouse Financial Inc.(a)

     528       19,937  

Cincinnati Financial Corp.

     742       84,002  

Erie Indemnity Co., Class A, NVS

     392       72,234  

Everest Re Group Ltd.

     644       165,566  

Fidelity National Financial Inc.

     1,088       49,874  

Globe Life Inc.

     764       74,360  

Hartford Financial Services Group Inc. (The)

     2,328       132,882  

Lincoln National Corp.

     657       37,107  

Loews Corp.

     974       47,726  

Markel Corp.(a)

     94       110,074  

Marsh & McLennan Companies Inc.

     4,536       470,020  

MetLife Inc.

     1,971       92,223  

Principal Financial Group Inc.

     179       9,555  

Progressive Corp. (The)

     5,790       403,563  

Prudential Financial Inc.

     898       81,844  

Reinsurance Group of America Inc.

     111       18,034  

RenaissanceRe Holdings Ltd.

     684       128,031  

Travelers Companies Inc. (The)

     913       119,658  

Unum Group

     745       20,517  

Willis Towers Watson PLC

     433       80,928  

WR Berkley Corp.

     2,650       185,235  
   

 

 

  
        3,737,037  
Interactive Media & Services — 2.2%  

Alphabet Inc., Class A(a)

     247       310,924  

Alphabet Inc., Class C, NVS(a)

     266       335,189  

Facebook Inc., Class A(a)

     3,206       614,430  

IAC/InterActiveCorp.(a)

     31       7,045  

Snap Inc., Class A, NVS(a)(b)

     735       11,069  

TripAdvisor Inc.(a)

     196       7,918  

Twitter Inc.(a)

     201       6,024  

Zillow Group Inc., Class C, NVS(a)(b)

     231       7,524  
   

 

 

  
      1,300,123  
 

 

4

Schedule of Investments  (unaudited) (continued)

October 31, 2019

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Internet & Direct Marketing Retail — 0.7%            

Amazon.com Inc.(a)

     4     $ 7,107  

Booking Holdings Inc.(a)

     168       344,193  

eBay Inc.

     506       17,837  

Expedia Group Inc.

     143       19,542  

GrubHub Inc.(a)(b)

     139       4,734  

MercadoLibre Inc.(a)

     13       6,780  

Qurate Retail Inc., Series A(a)(b)

     1,925       18,364  

Wayfair Inc., Class A(a)(b)

     113       9,292  
   

 

 

  
      427,849  
IT Services — 8.9%            

Accenture PLC, Class A

     2,537       470,411  

Akamai Technologies Inc.(a)

     111       9,601  

Alliance Data Systems Corp.(b)

     256       25,600  

Automatic Data Processing Inc.

     1,595       258,757  

Broadridge Financial Solutions Inc.

     835       104,559  

Cognizant Technology Solutions Corp., Class A

     1,251       76,236  

DXC Technology Co.

     1,603       44,355  

EPAM Systems Inc.(a)

     97       17,068  

Fidelity National Information Services Inc.

     1,591       209,630  

Fiserv Inc.(a)

     2,693       285,835  

FleetCor Technologies Inc.(a)(b)

     201       59,138  

Gartner Inc.(a)

     54       8,320  

Global Payments Inc.

     230       38,911  

GoDaddy Inc., Class A(a)

     105       6,828  

International Business Machines Corp.

     5,434       726,689  

Jack Henry & Associates Inc.

     1,265       179,073  

Leidos Holdings Inc.

     97       8,364  

Mastercard Inc., Class A

     3,871       1,071,532  

MongoDB Inc.(a)(b)

     100       12,777  

Okta Inc.(a)(b)

     214       23,341  

Paychex Inc.

     3,162       264,470  

PayPal Holdings Inc.(a)

     1,061       110,450  

Sabre Corp.

     369       8,664  

Square Inc., Class A(a)

     120       7,372  

Twilio Inc., Class A(a)(b)

     185       17,864  

VeriSign Inc.(a)

     495       94,060  

Visa Inc., Class A

     6,108         1,092,477  

Western Union Co. (The)

     1,702       42,652  
   

 

 

  
      5,275,034  
Leisure Products — 0.1%            

Hasbro Inc.

     419       40,773  

Polaris Inc.

     88       8,681  
   

 

 

  
      49,454  
Life Sciences Tools & Services — 0.7%            

Agilent Technologies Inc.

     316       23,937  

Illumina Inc.(a)

     329       97,226  

IQVIA Holdings Inc.(a)

     157       22,674  

Mettler-Toledo International Inc.(a)

     112       78,953  

PerkinElmer Inc.

     99       8,510  

Thermo Fisher Scientific Inc.

     528       159,446  

Waters Corp.(a)

     236       49,942  
   

 

 

  
      440,688  
Machinery — 1.5%            

Caterpillar Inc.

     70       9,646  

Cummins Inc.

     1,468       253,201  

Deere & Co.

     212       36,918  

Dover Corp.

     84       8,727  

Flowserve Corp.

     182       8,889  

Fortive Corp.

     88       6,072  
Security   Shares     Value  
Machinery (continued)            

IDEX Corp.

     55     $ 8,554  

Illinois Tool Works Inc.

     1,834       309,176  

Ingersoll-Rand PLC

     301       38,194  

Middleby Corp. (The)(a)(b)

     59       7,136  

PACCAR Inc.

     1,579       120,099  

Parker-Hannifin Corp.

     49       8,991  

Pentair PLC

     284       11,777  

Snap-on Inc.

     58       9,435  

Stanley Black & Decker Inc.

     70       10,593  

WABCO Holdings Inc.(a)

     62       8,346  

Wabtec Corp.

     401       27,817  

Xylem Inc./NY

     106       8,129  
   

 

 

  
      891,700  
Media — 1.3%            

Altice USA Inc., Class A(a)

     402       12,442  

CBS Corp., Class B, NVS

     895       32,256  

Charter Communications Inc., Class A(a)

     203       94,975  

Comcast Corp., Class A

     5,537       248,168  

Discovery Inc., Class A(a)(b)

     996       26,847  

Discovery Inc., Class C, NVS(a)

     1,405       35,462  

DISH Network Corp., Class A(a)

     746       25,647  

Fox Corp., Class A, NVS

     768       24,607  

Fox Corp., Class B(a)

     786       24,555  

Interpublic Group of Companies Inc. (The)

     1,000       21,750  

Liberty Broadband Corp., Class C, NVS(a)

     95       11,217  

Liberty Global PLC, Class A(a)

     109       2,741  

Liberty Global PLC, Class C, NVS(a)

     162       3,867  

Liberty Media Corp.-Liberty SiriusXM, Class A(a)

     344       15,449  

Liberty Media Corp.-Liberty SiriusXM, Class C, NVS(a)

     605       27,340  

News Corp., Class A, NVS

     2,820       38,662  

Omnicom Group Inc.

     1,125       86,839  

Sirius XM Holdings Inc.

     4,940       33,197  
   

 

 

  
      766,021  
Metals & Mining — 0.9%            

Freeport-McMoRan Inc.

     4,041       39,683  

Newmont Goldcorp Corp.

     9,075       360,550  

Nucor Corp.

     1,725       92,891  

Steel Dynamics Inc.

     923       28,022  
   

 

 

  
      521,146  
Mortgage Real Estate Investment — 0.6%            

AGNC Investment Corp.

     8,989       153,263  

Annaly Capital Management Inc.

     23,446       210,545  
   

 

 

  
        363,808  
Multi-Utilities — 1.1%            

Ameren Corp.

     259       20,124  

CenterPoint Energy Inc.

     254       7,384  

CMS Energy Corp.

     871       55,674  

Consolidated Edison Inc.

     2,571       237,098  

Dominion Energy Inc.

     1,173       96,831  

DTE Energy Co.

     270       34,376  

NiSource Inc.

     284       7,963  

Public Service Enterprise Group Inc.

     158       10,003  

Sempra Energy

     143       20,665  

WEC Energy Group Inc.

     1,729       163,218  
   

 

 

  
      653,336  
Multiline Retail — 1.0%            

Dollar General Corp.

     998       160,019  

Dollar Tree Inc.(a)

     674       74,410  

Kohl’s Corp.

     877       44,955  
 

 

5

Schedule of Investments  (unaudited) (continued)

October 31, 2019

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Multiline Retail (continued)  

Macy’s Inc.

     2,180     $ 33,049  

Nordstrom Inc.

     850       30,515  

Target Corp.

     2,357       251,987  
   

 

 

  
      594,935  
Oil, Gas & Consumable Fuels — 3.6%  

Apache Corp.

     291       6,303  

Cabot Oil & Gas Corp.

     2,071       38,603  

Cheniere Energy Inc.(a)(b)

     1,351       83,154  

Chevron Corp.

     4,768       553,756  

Cimarex Energy Co.

     429       18,112  

Concho Resources Inc.

     61       4,119  

ConocoPhillips

     146       8,059  

Continental Resources Inc./OK(a)

     185       5,452  

Devon Energy Corp.

     796       16,143  

Diamondback Energy Inc.

     294       25,213  

EOG Resources Inc.

     101       7,000  

Exxon Mobil Corp.

     8,804       594,886  

Hess Corp.

     117       7,693  

HollyFrontier Corp.

     798       43,842  

Kinder Morgan Inc./DE

     2,887       57,682  

Marathon Oil Corp.

     1,456       16,788  

Marathon Petroleum Corp.

     2,570       164,352  

Noble Energy Inc.

     321       6,182  

Occidental Petroleum Corp.

     479       19,400  

ONEOK Inc.

     879       61,381  

Parsley Energy Inc., Class A

     753       11,905  

Phillips 66

     1,439       168,104  

Pioneer Natural Resources Co.

     55       6,766  

Plains GP Holdings LP, Class A

     125       2,320  

Targa Resources Corp.

     195       7,582  

Valero Energy Corp.

     1,741       168,842  

Williams Companies Inc. (The)

     287       6,403  
   

 

 

  
        2,110,042  
Personal Products — 0.3%            

Coty Inc., Class A

     2,806       32,802  

Estee Lauder Companies Inc. (The), Class A

     820       152,742  
   

 

 

  
      185,544  
Pharmaceuticals — 4.9%            

Allergan PLC

     1,327       233,698  

Bristol-Myers Squibb Co.

     4,255       244,110  

Elanco Animal Health Inc.(a)(b)

     257       6,944  

Eli Lilly & Co.

     3,477       396,204  

Jazz Pharmaceuticals PLC(a)

     178       22,362  

Johnson & Johnson

     7,154       944,614  

Merck & Co. Inc.

     3,777       327,315  

Mylan NV(a)

     2,300       44,045  

Nektar Therapeutics(a)

     297       5,086  

Perrigo Co. PLC

     478       25,344  

Pfizer Inc.

     14,792       567,569  

Zoetis Inc.

     524       67,030  
   

 

 

  
      2,884,321  
Professional Services — 0.4%            

CoStar Group Inc.(a)

     45       24,728  

Equifax Inc.

     112       15,312  

IHS Markit Ltd.(a)

     135       9,453  

ManpowerGroup Inc.

     396       36,004  

Nielsen Holdings PLC

     374       7,540  

Robert Half International Inc.

     906       51,887  

TransUnion

     111       9,171  

Verisk Analytics Inc.

     555       80,308  
   

 

 

  
      234,403  
Security   Shares     Value  
Real Estate Management & Development — 0.4%  

CBRE Group Inc., Class A(a)

     2,274     $ 121,773  

Jones Lang LaSalle Inc.

     685       100,366  
   

 

 

  
      222,139  
Road & Rail — 0.4%            

AMERCO

     140       56,706  

CSX Corp.

     535       37,594  

JB Hunt Transport Services Inc.

     88       10,345  

Kansas City Southern

     72       10,136  

Knight-Swift Transportation Holdings Inc.

     1,076       39,231  

Norfolk Southern Corp.

     249       45,318  

Old Dominion Freight Line Inc.

     55       10,014  

Uber Technologies Inc.(a)(b)

     179       5,639  

Union Pacific Corp.

     56       9,266  
   

 

 

  
      224,249  
Semiconductors & Semiconductor Equipment — 5.4%  

Advanced Micro Devices Inc.(a)

     1,086       36,848  

Analog Devices Inc.

     397       42,332  

Applied Materials Inc.

     3,890       211,071  

Broadcom Inc.

     489       143,204  

Intel Corp.

     19,177       1,084,076  

KLA Corp.

     566       95,677  

Lam Research Corp.

     936       253,693  

Marvell Technology Group Ltd.

     858       20,927  

Maxim Integrated Products Inc.

     701       41,121  

Microchip Technology Inc.

     278       26,213  

Micron Technology Inc.(a)

     9,089       432,182  

NVIDIA Corp.

     1,150       231,173  

ON Semiconductor Corp.(a)

     2,067       42,167  

Qorvo Inc.(a)

     653       52,801  

QUALCOMM Inc.

     1,044       83,979  

Skyworks Solutions Inc.

     464       42,252  

Texas Instruments Inc.

     2,563       302,408  

Xilinx Inc.

     889       80,668  
   

 

 

  
        3,222,792  
Software — 2.6%            

Adobe Inc.(a)

     28       7,782  

ANSYS Inc.(a)

     41       9,026  

Autodesk Inc.(a)

     52       7,663  

Cadence Design Systems Inc.(a)

     489       31,956  

CDK Global Inc.

     530       26,786  

Citrix Systems Inc.

     538       58,567  

DocuSign Inc.(a)

     240       15,886  

Dropbox Inc., Class A(a)

     402       7,968  

Fortinet Inc.(a)

     196       15,986  

Intuit Inc.

     777       200,077  

Microsoft Corp.

     3,103       444,877  

NortonLifeLock Inc.

     427       9,770  

Oracle Corp.

     6,269       341,598  

Palo Alto Networks Inc.(a)

     204       46,387  

Paycom Software Inc.(a)

     177       37,441  

PTC Inc.(a)

     105       7,025  

salesforce.com Inc.(a)

     616       96,398  

ServiceNow Inc.(a)

     205       50,688  

Splunk Inc.(a)

     145       17,394  

SS&C Technologies Holdings Inc.

     295       15,343  

Synopsys Inc.(a)

     472       64,074  
 

 

6

Schedule of Investments  (unaudited) (continued)

October 31, 2019

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Software (continued)            

VMware Inc., Class A

     148     $ 23,424  

Workday Inc., Class A(a)

     185       30,000  
   

 

 

  
        1,566,116  
Specialty Retail — 2.9%            

Advance Auto Parts Inc.

     161       26,159  

AutoZone Inc.(a)

     136       155,636  

Best Buy Co. Inc.

     1,047       75,206  

Burlington Stores Inc.(a)

     306       58,804  

CarMax Inc.(a)

     93       8,665  

Gap Inc. (The)

     2,004       32,585  

Home Depot Inc. (The)

     798       187,195  

L Brands Inc.

     393       6,697  

Lowe’s Companies Inc.

     72       8,036  

O’Reilly Automotive Inc.(a)

     213       92,763  

Ross Stores Inc.

     2,800       307,076  

Tiffany & Co.

     103       12,824  

TJX Companies Inc. (The)

     10,460       603,019  

Tractor Supply Co.

     693       65,849  

Ulta Salon Cosmetics & Fragrance Inc.(a)

     371       86,499  
   

 

 

  
      1,727,013  
Technology Hardware, Storage & Peripherals — 2.5%  

Apple Inc.

     3,611       898,272  

Dell Technologies Inc., Class C(a)

     495       26,181  

Hewlett Packard Enterprise Co.

     10,996       180,444  

HP Inc.

     5,646       98,071  

NetApp Inc.

     698       39,004  

Seagate Technology PLC

     1,328       77,064  

Western Digital Corp.

     2,249       116,161  

Xerox Holdings Corp.(a)

     1,380       46,824  
   

 

 

  
      1,482,021  
Textiles, Apparel & Luxury Goods — 1.5%  

Capri Holdings Ltd.(a)

     1,180       36,663  

Hanesbrands Inc.

     460       6,997  

Lululemon Athletica Inc.(a)

     534       109,080  

NIKE Inc., Class B

     6,186       553,956  

PVH Corp.

     73       6,363  

Ralph Lauren Corp.

     223       21,421  

Tapestry Inc.

     306       7,913  

Under Armour Inc., Class A(a)(b)

     232       4,791  

Under Armour Inc., Class C, NVS(a)

     184       3,404  

VF Corp.

     1,636       134,626  
   

 

 

  
      885,214  
Security   Shares     Value  
Tobacco — 0.6%            

Altria Group Inc.

     6,336     $ 283,790  

Philip Morris International Inc.

     701       57,089  
   

 

 

  
      340,879  
Trading Companies & Distributors — 0.4%  

Fastenal Co.

     3,717       133,589  

HD Supply Holdings Inc.(a)

     147       5,812  

United Rentals Inc.(a)

     705       94,167  

WW Grainger Inc.

     33       10,192  
   

 

 

  
      243,760  
Water Utilities — 0.1%            

American Water Works Co. Inc.

     288       35,502  
   

 

 

  
Wireless Telecommunication Services — 0.3%  

Sprint Corp.(a)

     4,180       25,958  

T-Mobile U.S. Inc.(a)

     2,020       166,973  
   

 

 

  
      192,931  
   

 

 

  

Total Common Stocks — 99.8%
(Cost: $56,462,988)

 

      59,176,409  
   

 

 

  

Short-Term Investments

 

Money Market Funds — 0.6%  

BlackRock Cash Funds: Institutional,
SL Agency Shares,
    2.00%(c)(d)(e)

     265,799       265,931  

BlackRock Cash Funds: Treasury,
SL Agency Shares,
    1.74%(c)(d)

     97,000       97,000  
   

 

 

  
      362,931  
   

 

 

  

Total Short-Term Investments — 0.6%
(Cost: $362,930)

 

     362,931  
   

 

 

  

Total Investments in Securities — 100.4%
(Cost: $56,825,918)

 

     59,539,340  

Other Assets, Less Liabilities — (0.4)%

       (213,019 ) 
   

 

 

  

Net Assets — 100.0%

     $  59,326,321  
   

 

 

  

 

(a) 

Non-income producing security.

(b) 

All or a portion of this security is on loan.

(c) 

Affiliate of the Fund.

(d) 

Annualized 7-day yield as of period-end.

(e) 

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

 

 

7

Schedule of Investments  (unaudited) (continued)

October 31, 2019

    BlackRock U.S. Equity Factor Rotation ETF

 

Affiliates

Investments in issuers considered to be affiliates of the Fund during the three months ended October 31, 2019, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

 

  

Affiliated Issuer

     

 Shares

Held at

  

 

        

 Shares

Held at

  

 

     
 Value at
  
       
 Net Realized
  
      

 Change in

Unrealized

Appreciation

  

 

 

     07/31/19        Net Activity        10/31/19        10/31/19        Income         Gain (Loss) (a)    (Depreciation)

 

 

  

BlackRock Cash Funds: Institutional,
SL Agency Shares

      17,119        248,680        265,799      $ 265,931      $ 164 (b)            $ (10 )      $ —  

BlackRock Cash Funds: Treasury,
SL Agency Shares

      50,000        47,000        97,000        97,000        360         —         —  
           

 

 

     

 

 

      

 

 

      

 

 

  
            $ 362,931      $ 524       $ (10 )      $ —  
           

 

 

     

 

 

      

 

 

      

 

 

  

 

  (a) 

Includes realized capital gain distributions from an affiliated fund, if any.

 
  (b) 

Includes securities lending income earned from the reinvestment of cash collateral from loaned securities (excluding collateral investment fees), net of fees and other payments to and from borrowers of securities, and less fees paid to BTC as securities lending agent.

 

Fair Value Measurements

Various inputs are used in determining the fair value of financial instruments. For description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to a recently published shareholder report. Shareholder reports are available on the Fund’s website at iShares.com and on the U.S. Securities and Exchange Commission website at sec.gov.

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of October 31, 2019. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

 

                                                                                   

 

  
     Level 1        Level 2        Level 3        Total  

 

  

Investments

                  

Assets

                  

Common Stocks

    $ 59,176,409        $ —        $ —        $ 59,176,409  

Money Market Funds

      362,931          —          —          362,931  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 59,539,340        $ —        $ —        $ 59,539,340  
  

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviations — Equity
NVS    Non-Voting Shares

 

8