NPORT-EX 2 NPORT_2769100548520315.htm U.S. Equity Factor Rotation ETF

Schedule of Investments  (unaudited)

October 31, 2020

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

 

Communication Services — 9.4%  

Activision Blizzard Inc.

     3,249     $ 246,047  

Alphabet Inc., Class A(a)

    536       866,235  

Alphabet Inc., Class C, NVS(a)

    543       880,208  

Altice USA Inc., Class A(a)

    776       20,913  

AT&T Inc.

     64,105       1,732,117  

Cable One Inc.

     31       53,688  

CenturyLink Inc.

     12,169       104,897  

Charter Communications Inc., Class A(a)

    426       257,227  

Comcast Corp., Class A

     1,692       71,470  

Discovery Inc., Class A(a)(b)

    1,613       32,647  

Discovery Inc., Class C, NVS(a)

    4,245       77,768  

DISH Network Corp., Class A(a)

    2,208       56,282  

Electronic Arts Inc.(a)

    1,302       156,019  

Facebook Inc., Class A(a)

    2,521       663,300  

Fox Corp., Class A, NVS

     1,973       52,324  

Fox Corp., Class B(a)

    1,210       31,629  

IAC/InterActiveCorp.(a)

    84       10,141  

Interpublic Group of Companies Inc. (The)

     3,095       55,989  

Liberty Broadband Corp., Class A(a)

    75       10,541  

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

    353       50,024  

Liberty Global PLC, Class A(a)

    345       6,548  

Liberty Global PLC, Class C, NVS(a)

    670       12,502  

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

    710       25,652  

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

    890       30,767  

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

    1,429       49,443  

Live Nation Entertainment Inc.(a)

    495       24,156  

Match Group Inc.(a)

    434       50,683  

Netflix Inc.(a)

    1,177       559,946  

News Corp., Class A, NVS

     5,456       71,637  

Omnicom Group Inc.

     985       46,492  

Pinterest Inc., Class A(a)

    1,207       71,153  

Roku Inc.(a)

    449       90,878  

Sirius XM Holdings Inc.(b)

    5,497       31,498  

Snap Inc., Class A, NVS(a)

    1,246       49,080  

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

    2,339       256,284  

Take-Two Interactive Software Inc.(a)

    616       95,431  

Twitter Inc.(a)

    736       30,441  

Verizon Communications Inc.

     2,715       154,728  

ViacomCBS Inc., Class B, NVS

     7,006       200,161  

Walt Disney Co. (The)

     3,163       383,514  

Zillow Group Inc., Class C, NVS(a)

    752       66,642  
   

 

 

  
        7,737,102  
Consumer Discretionary — 12.0%            

Advance Auto Parts Inc.

     195       28,720  

Amazon.com Inc.(a)

    376       1,141,592  

Aptiv PLC

     329       31,745  

Aramark

     868       24,078  

Autoliv Inc.

     397       30,093  

AutoZone Inc.(a)

    54       60,965  

Best Buy Co. Inc.

     2,488       277,536  

Booking Holdings Inc.(a)

    206       334,235  

BorgWarner Inc.

     2,964       103,681  

Burlington Stores Inc.(a)

    162       31,360  

CarMax Inc.(a)

    248       21,437  

Carnival Corp.

     7,172       98,328  

Chipotle Mexican Grill Inc.(a)

    23       27,634  

Darden Restaurants Inc.

     678       62,322  

Dollar General Corp.

     1,109       231,459  
Security   Shares     Value  
Consumer Discretionary (continued)            

Dollar Tree Inc.(a)

    554     $ 50,037  

Domino’s Pizza Inc.

     174       65,828  

DR Horton Inc.

     2,675       178,717  

eBay Inc.

     617       29,388  

Expedia Group Inc.

     786       74,002  

Ford Motor Co.

     55,063       425,637  

Garmin Ltd

     944       98,195  

General Motors Co.

     21,978       758,900  

Genuine Parts Co.

     454       41,055  

Hasbro Inc.

     325       26,884  

Hilton Worldwide Holdings Inc.

     292       25,641  

Home Depot Inc. (The)

     373       99,483  

Las Vegas Sands Corp.

     433       20,810  

Lear Corp.

     1,041       125,763  

Lennar Corp., Class A

     3,247       228,037  

LKQ Corp.(a)

    1,938       61,997  

Lowe’s Companies Inc.

     175       27,667  

Lululemon Athletica Inc.(a)

    779       248,727  

Marriott International Inc./MD, Class A

     210       19,505  

McDonald’s Corp.

     802       170,826  

MercadoLibre Inc.(a)

    27       32,779  

MGM Resorts International

     1,473       30,300  

Mohawk Industries Inc.(a)

    884       91,220  

Newell Brands Inc.

     5,669       100,115  

Nike Inc., Class B

     6,193       743,655  

NVR Inc.(a)

    20       79,062  

O’Reilly Automotive Inc.(a)

    111       48,463  

Peloton Interactive Inc., Class A(a)

    389       42,872  

PulteGroup Inc.

     3,524       143,638  

Ralph Lauren Corp.

     718       47,998  

Ross Stores Inc.

     1,879       160,034  

Royal Caribbean Cruises Ltd

     2,072       116,902  

Starbucks Corp.

     921       80,090  

Target Corp.

     4,879       742,681  

Tesla Inc.(a)

    3,406       1,321,664  

Tiffany & Co.

     400       52,336  

TJX Companies Inc. (The)

     5,517       280,264  

Tractor Supply Co.

     205       27,308  

Ulta Beauty Inc.(a)

    273       56,448  

Vail Resorts Inc.

     121       28,077  

VF Corp.

     1,429       96,029  

Wayfair Inc., Class A(a)(b)

    136       33,732  

Whirlpool Corp.

     778       143,899  

Wynn Resorts Ltd

     263       19,049  

Yum! Brands Inc.

     203       18,946  
   

 

 

  
        9,819,845  
Consumer Staples — 6.1%            

Altria Group Inc.

     8,345       301,088  

Archer-Daniels-Midland Co.

     651       30,102  

Brown-Forman Corp., Class B, NVS

     451       31,439  

Bunge Ltd

     648       36,761  

Campbell Soup Co.

     1,201       56,051  

Church & Dwight Co. Inc.

     735       64,967  

Clorox Co. (The)

     728       150,878  

Coca-Cola Co. (The)

     15,666       752,908  

Colgate-Palmolive Co.

     660       52,067  

Conagra Brands Inc.

     2,310       81,058  

Constellation Brands Inc., Class A

     129       21,315  

Costco Wholesale Corp.

     1,063       380,150  

Estee Lauder Companies Inc. (The), Class A

     1,222       268,424  
 

 

 

  1

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Consumer Staples (continued)            

General Mills Inc.

     2,173     $ 128,468  

Hershey Co. (The)

     1,411       193,956  

Hormel Foods Corp.

     2,921       142,223  

Ingredion Inc.

     777       55,081  

JM Smucker Co. (The)

     1,240       139,128  

Kellogg Co.

     988       62,135  

Keurig Dr Pepper Inc.

     760       20,444  

Kimberly-Clark Corp.

     351       46,539  

Kraft Heinz Co. (The)

     7,196       220,126  

Kroger Co. (The)

     9,910       319,201  

Lamb Weston Holdings Inc.

     1,454       92,256  

McCormick & Co. Inc./MD, NVS

     375       67,691  

Molson Coors Beverage Co., Class B

     2,868       101,126  

Mondelez International Inc., Class A

     1,317       69,959  

Monster Beverage Corp.(a)

    2,387       182,773  

PepsiCo Inc.

     1,092       145,553  

Philip Morris International Inc.

     474       33,663  

Procter & Gamble Co. (The)

     1,153       158,076  

Sysco Corp.

     409       22,622  

Tyson Foods Inc., Class A

     2,959       169,344  

Walmart Inc.

     704       97,680  

Walgreens Boots Alliance Inc.

     8,494       289,136  
   

 

 

  
        4,984,388  
Energy — 1.4%            

Baker Hughes Co.

     12,646       186,781  

Cabot Oil & Gas Corp.

     1,620       28,820  

Cheniere Energy Inc.(a)

    682       32,647  

Chevron Corp.

     288       20,016  

Concho Resources Inc.

     1,946       80,779  

ConocoPhillips

     580       16,600  

Diamondback Energy Inc.

     1,236       32,087  

EOG Resources Inc.

     409       14,004  

Exxon Mobil Corp.

     7,197       234,766  

Halliburton Co.

     1,912       23,059  

Hess Corp.

     452       16,823  

Kinder Morgan Inc./DE

     5,057       60,178  

Marathon Petroleum Corp.

     7,262       214,229  

National Oilwell Varco Inc.

     1,895       15,918  

Occidental Petroleum Corp.

     1,424       13,001  

ONEOK Inc.

     1,073       31,117  

Phillips 66

     811       37,841  

Pioneer Natural Resources Co.

     260       20,686  

Schlumberger Ltd.

     1,284       19,183  

Valero Energy Corp.

     914       35,290  

Williams Companies Inc. (The)

     1,022       19,612  
   

 

 

  
      1,153,437  
Financials — 9.4%            

Aflac Inc.

     3,359       114,038  

AGNC Investment Corp.

     4,978       69,543  

Alleghany Corp.

     82       44,848  

Allstate Corp. (The)

     832       73,840  

Ally Financial Inc.

     4,257       113,577  

American Express Co.

     405       36,952  

American Financial Group Inc./OH

     443       33,198  

American International Group Inc.

     6,523       205,409  

Ameriprise Financial Inc.

     658       105,826  

Annaly Capital Management Inc.

     11,553       81,911  

Aon PLC, Class A

     1,359       250,070  

Apollo Global Management Inc.

     592       21,821  
Security   Shares     Value  
Financials (continued)            

Arch Capital Group Ltd.(a)

    1,848     $ 55,828  

Arthur J Gallagher & Co.

     834       86,494  

Assurant Inc.

     246       30,595  

Athene Holding Ltd., Class A(a)

    1,942       62,299  

Bank of America Corp.

     1,081       25,620  

Bank of New York Mellon Corp. (The)

     1,016       34,910  

Berkshire Hathaway Inc., Class B(a)

    387       78,135  

Blackstone Group Inc. (The), Class A

     660       33,277  

Brown & Brown Inc.

     2,100       91,371  

Capital One Financial Corp.

     3,026       221,140  

Carlyle Group Inc. (The)

     1,154       28,758  

Cboe Global Markets Inc.

     573       46,579  

Charles Schwab Corp. (The)

     6,846       281,439  

Cincinnati Financial Corp.

     639       45,203  

Citigroup Inc.

     11,095       459,555  

Citizens Financial Group Inc.

     3,605       98,236  

CME Group Inc

     492       74,154  

Comerica Inc.

     1,085       49,378  

Discover Financial Services

     622       40,436  

East West Bancorp. Inc.

     1,214       44,287  

Equitable Holdings Inc.

     4,683       100,638  

Erie Indemnity Co., Class A, NVS

     293       68,231  

Everest Re Group Ltd

     495       97,555  

FactSet Research Systems Inc.

     365       111,872  

Fidelity National Financial Inc.

     2,579       80,697  

Fifth Third Bancorp

     3,088       71,703  

First Republic Bank/CA

     253       31,913  

Franklin Resources Inc.

     2,684       50,325  

Globe Life Inc.

     345       27,976  

Goldman Sachs Group Inc. (The)

     1,528       288,853  

Hartford Financial Services Group Inc. (The)

     1,361       52,426  

Huntington Bancshares Inc./OH

     2,919       30,474  

Intercontinental Exchange Inc.

     945       89,208  

Invesco Ltd

     6,170       80,889  

JPMorgan Chase & Co.

     362       35,490  

KeyCorp.

     2,228       28,919  

KKR & Co. Inc.

     904       30,872  

Lincoln National Corp.

     2,099       73,675  

Loews Corp.

     2,169       75,221  

M&T Bank Corp.

     312       32,317  

Markel Corp.(a)

    64       59,699  

MarketAxess Holdings Inc.

     383       206,380  

Marsh & McLennan Companies Inc.

     849       87,838  

MetLife Inc.

     5,052       191,218  

Moody’s Corp.

     521       136,971  

Morgan Stanley

     5,965       287,215  

MSCI Inc.

     404       141,335  

Nasdaq Inc.

     355       42,951  

Northern Trust Corp.

     409       32,012  

People’s United Financial Inc.

     2,083       22,226  

PNC Financial Services Group Inc. (The)

     272       30,431  

Principal Financial Group Inc.

     1,417       55,575  

Progressive Corp. (The)

     3,337       306,670  

Prudential Financial Inc.

     2,792       178,744  

Raymond James Financial Inc.

     487       37,226  

Regions Financial Corp.

     6,506       86,530  

Reinsurance Group of America Inc.

     430       43,439  

RenaissanceRe Holdings Ltd.

     416       67,276  

S&P Global Inc.

     812         262,057  

SEI Investments Co.

     1,358       66,746  
 

 

 

2  

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Financials (continued)            

Signature Bank/New York NY

     227     $ 18,328  

State Street Corp.

     507       29,862  

SVB Financial Group(a)

    319       92,733  

Synchrony Financial

     1,435       35,904  

T Rowe Price Group Inc.

     1,533       194,170  

Tradeweb Markets Inc., Class A

     666       36,284  

Travelers Companies Inc. (The)

     662       79,910  

Truist Financial Corp.

     821       34,581  

U.S. Bancorp

     1,614       62,865  

Voya Financial Inc.

     1,774       85,028  

Wells Fargo & Co.

     1,112       23,852  

Willis Towers Watson PLC

     244       44,525  

WR Berkley Corp.

     1,489       89,519  

Zions Bancorp NA

     758       24,461  
   

 

 

  
        7,692,542  
Health Care — 17.3%            

Abbott Laboratories

     530       55,708  

AbbVie Inc.

     6,173       525,322  

ABIOMED Inc.(a)

    116       29,218  

Agilent Technologies Inc.

     291       29,708  

Alexion Pharmaceuticals Inc.(a)

    741       85,319  

Align Technology Inc.(a)

    226       96,294  

Alnylam Pharmaceuticals Inc.(a)

    471       57,919  

AmerisourceBergen Corp.

     1,073       103,083  

Amgen Inc.

     2,642       573,155  

Anthem Inc.

     1,006       274,437  

Avantor Inc.(a)

    2,385       55,499  

Baxter International Inc.

     2,196       170,344  

Becton Dickinson and Co.

     167       38,599  

Biogen Inc.(a)

    1,412       355,923  

BioMarin Pharmaceutical Inc.(a)

    766       57,013  

Bio-Rad Laboratories Inc., Class A(a)

    126       73,889  

Boston Scientific Corp.(a)

    570       19,534  

Bristol-Myers Squibb Co.

     10,416       608,815  

Cardinal Health Inc.

     2,369       108,476  

Catalent Inc.(a)

    808       70,918  

Centene Corp.(a)

    3,347       197,808  

Cerner Corp.

     405       28,386  

Cigna Corp.

     2,377       396,888  

Cooper Companies Inc. (The)

     155       49,453  

CVS Health Corp.

     6,391       358,471  

Danaher Corp.

     2,314       531,156  

DaVita Inc.(a)

    888       76,590  

DENTSPLY SIRONA Inc.

     677       31,948  

DexCom Inc.(a)

    458       146,368  

Edwards Lifesciences Corp.(a)

    1,210       86,745  

Elanco Animal Health Inc.(a)

    1,164       36,096  

Eli Lilly & Co.

     3,823       498,749  

Exact Sciences Corp.(a)

    270       33,434  

Gilead Sciences Inc.

     10,394       604,411  

HCA Healthcare Inc.

     196       24,292  

Henry Schein Inc.(a)

    638       40,564  

Hologic Inc.(a)

    423       29,111  

Humana Inc.

     527       210,421  

IDEXX Laboratories Inc.(a)

    63       26,764  

Illumina Inc.(a)

    255       74,638  

Incyte Corp.(a)

    809       70,092  

Insulet Corp.(a)

    377       83,788  

Intuitive Surgical Inc.(a)

    185       123,410  

Ionis Pharmaceuticals Inc.(a)

    385       18,076  
Security   Shares     Value  
Health Care (continued)            

IQVIA Holdings Inc.(a)

    148     $ 22,791  

Jazz Pharmaceuticals PLC(a)

    452       65,133  

Johnson & Johnson

     10,189       1,397,014  

Laboratory Corp. of America Holdings(a)

    134       26,769  

Masimo Corp.(a)

    305       68,265  

McKesson Corp.

     1,263       186,280  

Medtronic PLC

     1,202       120,885  

Merck & Co. Inc.

     5,586       420,123  

Mettler-Toledo International Inc.(a)

    63       62,868  

Moderna Inc.(a)

    1,605       108,289  

Molina Healthcare Inc.(a)

    271       50,533  

Mylan NV(a)

    4,988       72,526  

Neurocrine Biosciences Inc.(a)

    345       34,041  

PerkinElmer Inc.

     262       33,942  

Perrigo Co. PLC

     873       38,298  

Pfizer Inc.

     24,644       874,369  

Quest Diagnostics Inc.

     256       31,268  

Regeneron Pharmaceuticals Inc.(a)

    709       385,384  

ResMed Inc.

     497       95,394  

Sarepta Therapeutics Inc.(a)(b)

    304       41,317  

Seagen Inc.(a)

    579       96,577  

STERIS PLC

     148       26,224  

Stryker Corp.

     368       74,340  

Teladoc Health Inc.(a)(b)

    436       85,657  

Teleflex Inc.

     60       19,094  

Thermo Fisher Scientific Inc.

     1,009       477,378  

UnitedHealth Group Inc.

     3,694       1,127,187  

Universal Health Services Inc., Class B

     650       71,207  

Varian Medical Systems Inc.(a)

    320       55,296  

Veeva Systems Inc., Class A(a)

    659       177,963  

Vertex Pharmaceuticals Inc.(a)

    1,326       276,285  

Waters Corp.(a)

    115       25,624  

West Pharmaceutical Services Inc.

     379       103,115  

Zimmer Biomet Holdings Inc.

     212       28,005  

Zoetis Inc.

     1,372       217,531  
   

 

 

  
        14,163,804  
Industrials — 8.4%            

3M Co.

     135       21,595  

A O Smith Corp.

     1,187       61,356  

Allegion PLC

     679       66,881  

AMERCO

     194       67,349  

AMETEK Inc.

     269       26,416  

Boeing Co. (The)

     159       22,958  

Carrier Global Corp.

     13,760       459,446  

Caterpillar Inc.

     193       30,311  

CH Robinson Worldwide Inc.

     1,735       153,426  

Cintas Corp.

     92       28,939  

Copart Inc.(a)

    1,509       166,533  

CoStar Group Inc.(a)

    128       105,422  

CSX Corp.

     349       27,550  

Cummins Inc.

     2,175       478,261  

Deere & Co.

     154       34,790  

Delta Air Lines Inc.

     1,067       32,693  

Dover Corp.

     263       29,117  

Eaton Corp. PLC

     3,035       315,003  

Emerson Electric Co.

     405       26,240  

Equifax Inc.

     195       26,637  

Expeditors International of Washington Inc.

     1,186       104,807  

Fastenal Co.

     3,636       157,184  

FedEx Corp.

     2,266       587,959  
 

 

 

  3

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Industrials (continued)            

Fortive Corp.

     389     $ 23,962  

Fortune Brands Home & Security Inc.

     397       32,105  

General Dynamics Corp.

     167       21,932  

General Electric Co.

     3,356       24,902  

HD Supply Holdings Inc.(a)

    1,283       51,140  

HEICO Corp.

     90       9,454  

HEICO Corp., Class A

     191       17,858  

Honeywell International Inc.

     364       60,042  

Howmet Aerospace Inc.

     3,864       66,654  

Huntington Ingalls Industries Inc.

     422       62,237  

IDEX Corp.

     154       26,240  

IHS Markit Ltd

     974       78,767  

Illinois Tool Works Inc.

     1,953       382,554  

Ingersoll Rand Inc.(a)

    761       26,589  

Jacobs Engineering Group Inc.

     305       28,975  

JB Hunt Transport Services Inc.

     221       26,905  

Johnson Controls International PLC

     5,957         251,445  

Kansas City Southern

     156       27,478  

Knight-Swift Transportation Holdings Inc.

     2,194       83,350  

L3Harris Technologies Inc.

     358       57,677  

Lennox International Inc.

     116       31,513  

Lockheed Martin Corp.

     224       78,429  

Masco Corp.

     479       25,674  

Nielsen Holdings PLC

     3,574       48,285  

Nordson Corp.

     132       25,533  

Norfolk Southern Corp.

     138       28,859  

Northrop Grumman Corp.

     91       26,374  

Old Dominion Freight Line Inc.

     433       82,430  

Otis Worldwide Corp.

     514       31,498  

Owens Corning

     1,913       125,244  

PACCAR Inc.

     3,054       260,751  

Parker-Hannifin Corp.

     140       29,170  

Pentair PLC

     726       36,126  

Raytheon Technologies Corp.

     407       22,108  

Republic Services Inc.

     1,698       149,713  

Robert Half International Inc.

     1,185       60,068  

Rockwell Automation Inc.

     299       70,899  

Rollins Inc.

     842       48,710  

Roper Technologies Inc.

     59       21,909  

Sensata Technologies Holding PLC(a)

    599       26,182  

Snap-on Inc.

     321       50,567  

Southwest Airlines Co.

     2,379       94,042  

Stanley Black & Decker Inc.

     188       31,246  

Sunrun Inc.(a)

    364       18,935  

Teledyne Technologies Inc.(a)

    145       44,827  

Textron Inc.

     2,500       89,500  

Trane Technologies PLC

     288       38,232  

TransDigm Group Inc.

     60       28,645  

TransUnion

     275       21,906  

Uber Technologies Inc.(a)

    621       20,748  

Union Pacific Corp.

     155       27,464  

United Parcel Service Inc., Class B

     211       33,150  

United Rentals Inc.(a)

    1,273       226,963  

Verisk Analytics Inc.

     310       55,171  

Waste Connections Inc.

     1,315       130,606  

Waste Management Inc.

     1,373       148,160  

Westinghouse Air Brake Technologies Corp.

     1,548       91,796  

WW Grainger Inc.

     320       112,006  

XPO Logistics Inc.(a)

    338       30,420  
Security   Shares     Value  
Industrials (continued)            

Xylem Inc./NY

     375     $ 32,677  
   

 

 

  
      6,947,675  
Information Technology — 25.2%            

Accenture PLC, Class A

     1,545       335,126  

Adobe Inc.(a)

    2,256       1,008,658  

Advanced Micro Devices Inc.(a)

    4,213       317,197  

Akamai Technologies Inc.(a)

    1,006       95,691  

Amphenol Corp., Class A

     739       83,389  

Analog Devices Inc.

     203       24,062  

ANSYS Inc.(a)

    326       99,225  

Apple Inc.

     18,238       1,985,389  

Applied Materials Inc.

     5,733       339,566  

Arista Networks Inc.(a)

    171       35,722  

Arrow Electronics Inc.(a)

    1,137       88,561  

Autodesk Inc.(a)

    573       134,964  

Automatic Data Processing Inc.

     1,189       187,814  

Avalara Inc.(a)

    451       67,222  

Black Knight Inc.(a)

    1,613       141,863  

Booz Allen Hamilton Holding Corp.

     587       46,079  

Broadcom Inc.

     136       47,550  

Broadridge Financial Solutions Inc.

     617       84,899  

Cadence Design Systems Inc.(a)

    1,259       137,697  

CDK Global Inc.

     711       30,644  

CDW Corp./DE

     199       24,397  

Cisco Systems Inc.

     7,128       255,895  

Citrix Systems Inc.

     1,505       170,471  

Cognex Corp.

     361       23,790  

Cognizant Technology Solutions Corp., Class A

     2,420       172,836  

Corning Inc.

     6,526       208,636  

Coupa Software Inc.(a)

    296       79,239  

Crowdstrike Holdings Inc., Class A(a)

    624       77,276  

Datadog Inc., Class A(a)

    658       59,713  

Dell Technologies Inc., Class C(a)

    1,709       102,984  

DocuSign Inc.(a)

    931       188,295  

Dropbox Inc., Class A(a)

    1,023       18,680  

Dynatrace Inc.(a)

    1,125       39,724  

EPAM Systems Inc.(a)

    249       76,929  

F5 Networks Inc.(a)

    402       53,442  

Fair Isaac Corp.(a)

    163       63,806  

Fidelity National Information Services Inc.

     827       103,036  

Fiserv Inc.(a)

    861       82,200  

FleetCor Technologies Inc.(a)

    177       39,101  

FLIR Systems Inc.

     742       25,740  

Fortinet Inc.(a)

    528       58,275  

Gartner Inc.(a)

    177       21,258  

Global Payments Inc.

     592       93,382  

GoDaddy Inc., Class A(a)

    287       20,302  

Guidewire Software Inc.(a)

    242       23,259  

Hewlett Packard Enterprise Co.

     19,660       169,862  

HP Inc.

     14,930       268,143  

Intel Corp.

     48,638         2,153,691  

International Business Machines Corp.

     6,793       758,506  

Intuit Inc.

     550       173,074  

IPG Photonics Corp.(a)

    155       28,824  

Jack Henry & Associates Inc.

     865       128,236  

Juniper Networks Inc.

     4,145       81,739  

Keysight Technologies Inc.(a)

    806       84,525  

KLA Corp.

     313       61,717  

Lam Research Corp.

     1,471       503,200  

Leidos Holdings Inc.

     555       46,065  
 

 

 

4  

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock U.S. Equity Factor Rotation ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Information Technology (continued)            

Marvell Technology Group Ltd

     825     $ 30,946  

Mastercard Inc., Class A

     1,862       537,448  

Maxim Integrated Products Inc.

     825       57,461  

Microchip Technology Inc.

     225       23,643  

Micron Technology Inc.(a)

    17,806       896,354  

Microsoft Corp.

     8,379       1,696,496  

MongoDB Inc.(a)

    216       49,350  

Motorola Solutions Inc.

     642       101,474  

NetApp Inc.

     1,419       62,280  

NortonLifeLock Inc.

     6,109       125,662  

NVIDIA Corp.

     2,012       1,008,736  

NXP Semiconductors NV

     949       128,229  

Okta Inc.(a)

    488       102,397  

ON Semiconductor Corp.(a)

    4,446       111,550  

Oracle Corp.

     4,605       258,387  

Palo Alto Networks Inc.(a)

    154       34,063  

Paychex Inc.

     2,020       166,145  

Paycom Software Inc.(a)

    262       95,392  

PayPal Holdings Inc.(a)

    149       27,733  

PTC Inc.(a)

    313       26,254  

Qorvo Inc.(a)

    1,360       173,210  

QUALCOMM Inc.

     271       33,431  

RingCentral Inc., Class A(a)

    343       88,611  

salesforce.com Inc.(a)

    117       27,176  

Seagate Technology PLC

     2,704       129,305  

ServiceNow Inc.(a)

    641       318,942  

Skyworks Solutions Inc.

     1,244       175,765  

Slack Technologies Inc., Class A(a)(b)

    1,525       39,009  

Snowflake Inc., Class A(a)

    115       28,752  

Splunk Inc.(a)

    403       79,810  

Square Inc., Class A(a)

    274       42,437  

SS&C Technologies Holdings Inc.

     392       23,214  

Synopsys Inc.(a)

    540       115,484  

TE Connectivity Ltd

     1,242       120,325  

Teradyne Inc.

     889       78,099  

Texas Instruments Inc.

     1,878       271,540  

Trade Desk Inc. (The), Class A(a)

    75       42,484  

Trimble Inc.(a)

    554       26,664  

Twilio Inc., Class A(a)

    119       33,197  

Tyler Technologies Inc.(a)

    423       162,593  

VeriSign Inc.(a)

    251       47,866  

Visa Inc., Class A

     3,261       592,556  

VMware Inc., Class A(a)

    157       20,211  

Western Digital Corp.

     3,759       141,827  

Western Union Co. (The)

     3,831       74,475  

Workday Inc., Class A(a)

    140       29,417  

Xilinx Inc.

     578       68,603  

Zebra Technologies Corp., Class A(a)

    89       25,244  

Zoom Video Communications Inc., Class A(a)

    605       278,851  

Zscaler Inc.(a)

    201       27,286  
   

 

 

  
        20,687,950  
Materials — 3.0%            

Air Products & Chemicals Inc.

     682       188,396  

Albemarle Corp.

     660       61,519  

Amcor PLC

     4,121       42,982  

Avery Dennison Corp.

     452       62,552  

Axalta Coating Systems Ltd.(a)

    1,042       26,165  

Ball Corp.

     466       41,474  

Celanese Corp.

     495       56,187  

CF Industries Holdings Inc.

     798       22,033  
Security   Shares     Value  
Materials (continued)            

Corteva Inc.

     3,344     $ 110,285  

Crown Holdings Inc.(a)

    320       27,456  

Dow Inc.

     2,667       121,322  

DuPont de Nemours Inc.

     469       26,677  

Eastman Chemical Co.

     1,047       84,639  

Ecolab Inc.

     919       168,719  

FMC Corp.

     239       24,555  

Freeport-McMoRan Inc.

     2,476       42,934  

International Flavors & Fragrances Inc.

     161       16,528  

International Paper Co.

     2,406       105,263  

Linde PLC

     139       30,627  

LyondellBasell Industries NV, Class A

     2,423       165,854  

Martin Marietta Materials Inc.

     132       35,158  

Mosaic Co. (The)

     4,644       85,914  

Newmont Corp.

     5,703       358,377  

Nucor Corp.

     2,037       97,287  

Packaging Corp. of America

     445       50,948  

PPG Industries Inc.

     668       86,653  

RPM International Inc.

     319       27,010  

Sealed Air Corp.

     777       30,761  

Sherwin-Williams Co. (The)

     38       26,143  

Steel Dynamics Inc.

     2,311       72,750  

Vulcan Materials Co.

     234       33,893  

Westrock Co.

     2,995       112,462  
   

 

 

  
        2,443,523  
Real Estate — 4.0%            

Alexandria Real Estate Equities Inc.

     148       22,425  

American Tower Corp.

     1,396       320,591  

AvalonBay Communities Inc.

     566       78,748  

Boston Properties Inc.

     262       18,972  

Camden Property Trust

     626       57,742  

CBRE Group Inc., Class A(a)

    4,838       243,835  

Crown Castle International Corp.

     1,542       240,860  

Digital Realty Trust Inc.

     860       124,098  

Duke Realty Corp.

     1,515       57,555  

Equinix Inc.

     318       232,534  

Equity LifeStyle Properties Inc.

     337       19,947  

Equity Residential

     1,247       58,584  

Essex Property Trust Inc.

     199       40,714  

Extra Space Storage Inc.

     525       60,874  

Federal Realty Investment Trust

     273       18,777  

Healthpeak Properties Inc.

     994       26,808  

Host Hotels & Resorts Inc.

     21,163       221,788  

Invitation Homes Inc.

     864       23,553  

Iron Mountain Inc.

     1,767       46,048  

Jones Lang LaSalle Inc.

     1,150       129,789  

Medical Properties Trust Inc.

     2,679       47,740  

Mid-America Apartment Communities Inc.

     384       44,786  

National Retail Properties Inc.

     1,077       34,475  

Omega Healthcare Investors Inc.

     769       22,155  

Prologis Inc.

     1,798       178,362  

Public Storage

     1,460       334,442  

Realty Income Corp.

     405       23,433  

Regency Centers Corp.

     524       18,649  

SBA Communications Corp.

     454       131,828  

Simon Property Group Inc.

     2,138       134,288  

Sun Communities Inc.

     167       22,984  

UDR Inc.

     1,258       39,300  

Ventas Inc.

     688       27,155  

VEREIT Inc.

     4,681       29,022  
 

 

 

  5

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock U.S. Equity Factor Rotation ETF

 

Security   Shares     Value  
Real Estate (continued)            

VICI Properties Inc.

     1,366     $ 31,350  

Vornado Realty Trust

     633       19,452  

Welltower Inc.

     486       26,132  

Weyerhaeuser Co.

     1,249       34,085  

WP Carey Inc.

     358       22,414  
   

 

 

  
        3,266,294  
Utilities — 3.6%            

AES Corp. (The)

     4,125       80,438  

Alliant Energy Corp.

     659       36,430  

Ameren Corp.

     345       27,986  

American Electric Power Co. Inc.

     801       72,034  

American Water Works Co. Inc.

     240       36,122  

Atmos Energy Corp.

     3,256       298,478  

CenterPoint Energy Inc.

     2,873       60,706  

CMS Energy Corp.

     675       42,748  

Consolidated Edison Inc.

     1,449       113,732  

Dominion Energy Inc.

     756       60,737  

DTE Energy Co.

     187       23,080  

Duke Energy Corp.

     3,336       307,279  

Edison International

     387       21,687  

Entergy Corp.

     231       23,382  

Essential Utilities Inc.

     527       21,712  

Evergy Inc.

     1,278       70,546  

Eversource Energy

     1,102       96,172  

Exelon Corp.

     6,255       249,512  

FirstEnergy Corp.

     535       15,900  

NextEra Energy Inc.

     6,028       441,310  

NiSource Inc.

     814       18,698  

NRG Energy Inc.

     1,174       37,122  

OGE Energy Corp.

     5,657       174,066  

PG&E Corp.(a)

    2,766       26,443  

Pinnacle West Capital Corp.

     317       25,858  

PPL Corp.

     3,532       97,130  

Public Service Enterprise Group Inc.

     481       27,970  
Security   Shares     Value  
Utilities (continued)            

Sempra Energy

     172     $ 21,562  

Southern Co. (The)

     2,110       121,219  

UGI Corp.

     1,354       43,788  

Vistra Corp.

     3,844       66,770  

WEC Energy Group Inc.

     930       93,511  

Xcel Energy Inc.

     1,802       126,194  
   

 

 

  
      2,980,322  
   

 

 

  

Total Common Stocks — 99.8%
(Cost: $74,733,480)

 

     81,876,882  
   

 

 

  

Short-Term Investments

 

Money Market Funds — 0.3%  

BlackRock Cash Funds: Institutional,
SL Agency Shares,
    0.20%(c)(d)(e)

    182,077       182,204  

BlackRock Cash Funds: Treasury,
SL Agency Shares,
    0.04%(c)(d)

    52,000       52,000  
   

 

 

  
      234,204  
   

 

 

  

Total Short-Term Investments — 0.3%
(Cost: $233,952)

 

     234,204  
   

 

 

  

Total Investments In Securities — 100.1%
(Cost: $74,967,432)

       82,111,086  

Other Assets, Less Liabilities — (0.1)%

       (116,191 ) 
   

 

 

  

Net Assets — 100.0%

     $   81,994,895  
   

 

 

  

 

(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.
 

 

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

 

  
     Value at        Purchases        Proceeds        Net Realized       

 Change in
Unrealized
Appreciation		  
 
 		      Value at       
 Shares
Held at		  
 		        



 Capital
Gain
Distributions
from
Underlying
 
 
 
 

Affiliated Issuer

      07/31/20        at Cost        from Sales        Gain (Loss)        (Depreciation)        10/31/20        10/31/20        Income        Funds  

 

  

BlackRock Cash Funds: Institutional, SL Agency Shares

    $ 677,741      $ —      $ (495,313 )(a)     $ (42 )     $ (182 )     $ 182,204        182,077      $ 665 (b)      $ —  

BlackRock Cash Funds: Treasury, SL Agency Shares

      132,000        —        (80,000 )(a)        —        —        52,000        52,000        32        —  
           

 

 

     

 

 

     

 

 

        

 

 

     

 

 

  
            $ (42 )     $ (182 )     $ 234,204         $ 697      $ —  
           

 

 

     

 

 

     

 

 

        

 

 

     

 

 

  

 

  (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.

 

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.

 

 

6  

Schedule of Investments  (unaudited) (continued)

October 31, 2020

   

BlackRock U.S. Equity Factor Rotation ETF

 

Fair Value Measurements (continued)

The following table summarizes the value of the Fund’s investments according to the fair value hierarchy as of October 31, 2020. 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

    $ 81,876,882        $ —        $ —        $ 81,876,882  

Money Market Funds

      234,204          —          —          234,204  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 82,111,086        $ —        $ —        $ 82,111,086  
  

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviations — Equity
NVS    Non-Voting Shares

 

 

  7