| Schedule of Investments (unaudited) October 31, 2021 |
BlackRock Future Tech ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks |
||||||||
| Automobiles — 3.1% | ||||||||
| Arrival SA(a)(b) |
3,948 | $ | 65,261 | |||||
| Tesla Inc.(a) |
441 | 491,274 | ||||||
|
|
|
|||||||
| 556,535 | ||||||||
| Capital Markets — 0.3% | ||||||||
| Coinbase Global Inc., Class A(a) |
140 | 44,719 | ||||||
|
|
|
|||||||
| Diversified Consumer Services — 1.3% | ||||||||
| Chegg Inc.(a)(b) |
2,130 | 126,607 | ||||||
| Duolingo Inc.(a) |
186 | 32,307 | ||||||
| Udemy Inc., NVS |
2,526 | 69,465 | ||||||
|
|
|
|||||||
| 228,379 | ||||||||
| Electrical Equipment — 0.6% | ||||||||
| Fluence Energy Inc.(a) |
3,242 | 115,318 | ||||||
|
|
|
|||||||
| Electronic Equipment, Instruments & Components — 2.9% | ||||||||
| Cognex Corp. |
1,609 | 140,932 | ||||||
| Maxscend Microelectronics Co. Ltd., Class A |
1,800 | 86,903 | ||||||
| Samsung SDI Co. Ltd. |
457 | 288,334 | ||||||
|
|
|
|||||||
| 516,169 | ||||||||
| Entertainment — 2.4% | ||||||||
| HYBE Co. Ltd.(a) |
312 | 89,631 | ||||||
| Roku Inc.(a) |
619 | 188,733 | ||||||
| Take-Two Interactive Software Inc.(a) |
795 | 143,895 | ||||||
|
|
|
|||||||
| 422,259 | ||||||||
| Health Care Providers & Services — 0.5% | ||||||||
| Agilon Health Inc.(a) |
3,972 | 97,314 | ||||||
|
|
|
|||||||
| Health Care Technology — 0.8% | ||||||||
| Definitive Healthcare Corp.(a)(b) |
1,920 | 77,069 | ||||||
| Doximity Inc., Class A(a)(b) |
971 | 67,465 | ||||||
|
|
|
|||||||
| 144,534 | ||||||||
| Interactive Media & Services — 6.1% | ||||||||
| Acast AB(a)(b) |
14,555 | 39,184 | ||||||
| Bumble Inc., Class A(a) |
1,669 | 87,656 | ||||||
| Eventbrite Inc., Class A(a) |
5,415 | 109,600 | ||||||
| Kakao Corp. |
3,134 | 337,169 | ||||||
| Kanzhun Ltd.(a) |
1,839 | 64,549 | ||||||
| Snap Inc., Class A, NVS(a) |
4,307 | 226,462 | ||||||
| ZoomInfo Technologies Inc., Class A(a) |
3,375 | 226,867 | ||||||
|
|
|
|||||||
| 1,091,487 | ||||||||
| Internet & Direct Marketing Retail — 4.7% | ||||||||
| Cazoo Group Ltd., NVS(a) |
14,148 | 131,576 | ||||||
| Delivery Hero SE(a)(c) |
1,183 | 147,550 | ||||||
| Farfetch Ltd., Class A(a)(b) |
4,241 | 166,289 | ||||||
| MercadoLibre Inc.(a) |
134 | 198,457 | ||||||
| Ozon Holdings PLC, ADR(a) |
4,407 | 198,315 | ||||||
|
|
|
|||||||
| 842,187 | ||||||||
| IT Services — 16.4% | ||||||||
| Adyen NV(a)(c) |
64 | 193,108 | ||||||
| Affirm Holdings Inc.(a) |
1,161 | 188,663 | ||||||
| Cloudflare Inc., Class A(a) |
1,493 | 290,717 | ||||||
| Dlocal Ltd./Uruguay(a)(b) |
2,339 | 113,465 | ||||||
| Endava PLC, ADR(a) |
1,798 | 284,911 | ||||||
| GMO Payment Gateway Inc. |
1,100 | 139,366 | ||||||
| Grid Dynamics Holdings Inc.(a) |
5,279 | 151,771 | ||||||
| Locaweb Servicos de Internet SA(c) |
47,744 | 154,810 | ||||||
| MongoDB Inc.(a) |
552 | 287,752 | ||||||
| Okta Inc.(a) |
853 | 210,845 | ||||||
| Security | Shares | Value | ||||||
| IT Services (continued) | ||||||||
| Pagseguro Digital Ltd., Class A(a)(b) |
3,305 | $ | 119,641 | |||||
| Paymentus Holdings Inc., Class A(a) |
2,450 | 62,720 | ||||||
| Shift4 Payments Inc., Class A(a)(b) |
3,233 | 204,099 | ||||||
| Square Inc., Class A(a) |
1,225 | 311,762 | ||||||
| Twilio Inc., Class A(a) |
753 | 219,394 | ||||||
|
|
|
|||||||
| 2,933,024 | ||||||||
| Machinery — 0.3% | ||||||||
| Berkshire Grey Inc., Class A(a) |
8,819 | 60,851 | ||||||
|
|
|
|||||||
| Professional Services — 2.2% | ||||||||
| CoStar Group Inc.(a) |
1,627 | 140,003 | ||||||
| Legalzoomcom Inc.(a) |
3,754 | 105,262 | ||||||
| TransUnion |
1,367 | 157,602 | ||||||
|
|
|
|||||||
| 402,867 | ||||||||
| Road & Rail — 0.7% | ||||||||
| Lyft Inc., Class A(a) |
2,929 | 134,353 | ||||||
|
|
|
|||||||
| Semiconductors & Semiconductor Equipment — 26.6% | ||||||||
| Alphawave IP Group PLC(a) |
21,609 | 58,969 | ||||||
| Ambarella Inc.(a) |
1,255 | 233,217 | ||||||
| Andes Technology Corp. |
7,000 | 127,335 | ||||||
| ASM International NV |
577 | 261,141 | ||||||
| BE Semiconductor Industries NV |
2,343 | 214,070 | ||||||
| Enphase Energy Inc.(a) |
748 | 173,259 | ||||||
| Entegris Inc. |
1,917 | 269,875 | ||||||
| KLA Corp. |
424 | 158,050 | ||||||
| Lasertec Corp. |
1,400 | 303,682 | ||||||
| Lattice Semiconductor Corp.(a) |
4,131 | 286,857 | ||||||
| MACOM Technology Solutions Holdings Inc., Class H(a)(b) |
2,594 | 181,113 | ||||||
| Marvell Technology Inc. |
5,873 | 402,300 | ||||||
| Monolithic Power Systems Inc. |
531 | 279,019 | ||||||
| Nordic Semiconductor ASA(a) |
5,534 | 164,416 | ||||||
| ON Semiconductor Corp.(a) |
4,681 | 225,016 | ||||||
| Qorvo Inc.(a) |
854 | 143,668 | ||||||
| Silergy Corp. |
2,000 | 330,410 | ||||||
| SkyWater Technology Inc.(a) |
3,078 | 105,391 | ||||||
| SOITEC(a) |
995 | 264,920 | ||||||
| Tower Semiconductor Ltd.(a)(b) |
3,720 | 118,556 | ||||||
| Ultra Clean Holdings Inc.(a) |
4,387 | 217,464 | ||||||
| Wolfspeed Inc.(a) |
2,088 | 250,790 | ||||||
|
|
|
|||||||
| 4,769,518 | ||||||||
| Software — 26.5% | ||||||||
| Alkami Technology Inc.(a) |
1,993 | 59,790 | ||||||
| Altium Ltd. |
6,253 | 174,188 | ||||||
| AppLovin Corp., Class A(a) |
1,928 | 189,426 | ||||||
| Atlassian Corp. PLC, Class A(a) |
701 | 321,149 | ||||||
| Avalara Inc.(a) |
1,108 | 199,041 | ||||||
| AvidXchange Holdings Inc., NVS(a) |
3,241 | 72,048 | ||||||
| Bill.com Holdings Inc.(a) |
485 | 142,740 | ||||||
| Confluent Inc., Class A(a) |
1,610 | 109,400 | ||||||
| Coupa Software Inc.(a) |
589 | 134,115 | ||||||
| Crowdstrike Holdings Inc., Class A(a) |
878 | 247,420 | ||||||
| CS Disco Inc.(a) |
2,971 | 170,387 | ||||||
| Dolby Laboratories Inc., Class A |
1,366 | 120,686 | ||||||
| Elastic NV(a) |
1,127 | 195,546 | ||||||
| EngageSmart Inc.(a) |
1,796 | 60,220 | ||||||
| Freee KK(a) |
2,100 | 150,729 | ||||||
| Glodon Co. Ltd., Class A |
11,871 | 137,625 | ||||||
| Latch Inc.(a) |
9,851 | 87,575 | ||||||
| Lightspeed Commerce Inc.(a) |
4,139 | 403,432 | ||||||
| 1 |
| Schedule of Investments (unaudited) (continued) October 31, 2021 |
BlackRock Future Tech ETF (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Software (continued) | ||||||||
| Ming Yuan Cloud Group Holdings Ltd. |
34,000 | $ | 110,517 | |||||
| Plaid Inc.(a)(b) |
2,700 | 68,877 | ||||||
| Procore Technologies Inc.(a) |
683 | 62,460 | ||||||
| Rakus Co. Ltd. |
7,500 | 237,708 | ||||||
| Siteminder Ltd., NVS(a)(d) |
58,056 | 220,984 | ||||||
| Synopsys Inc.(a) |
745 | 248,219 | ||||||
| Trade Desk Inc. (The), Class A(a) |
1,780 | 133,340 | ||||||
| Unity Software Inc.(a)(b) |
1,562 | 236,346 | ||||||
| Xero Ltd.(a) |
1,738 | 198,172 | ||||||
| Zscaler Inc.(a) |
820 | 261,465 | ||||||
|
|
|
|||||||
| 4,753,605 | ||||||||
| Technology Hardware, Storage & Peripherals — 0.7% | ||||||||
| Pure Storage Inc., Class A(a) |
4,441 | 119,285 | ||||||
|
|
|
|||||||
| Total Common Stocks — 96.1% |
17,232,404 | |||||||
|
|
|
|||||||
| Short-Term Investments |
||||||||
| Money Market Funds — 15.0% | ||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares, 0.05%(e)(f)(g) |
1,590,166 | 1,590,961 | ||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares, 0.00%(e)(f) |
1,100,000 | 1,100,000 | ||||||
|
|
|
|||||||
| 2,690,961 | ||||||||
|
|
|
|||||||
| Total Short-Term Investments — 15.0% |
2,690,961 | |||||||
|
|
|
|||||||
| Total Investments in Securities — 111.1% |
19,923,365 | |||||||
| Other Assets, Less Liabilities — (11.1)% |
(1,989,056 | ) | ||||||
|
|
|
|||||||
| Net Assets — 100.0% |
$ | 17,934,309 | ||||||
|
|
|
|||||||
| (a) | Non-income producing security. |
| (b) | All or a portion of this security is on loan. |
| (c) | 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. |
| (d) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
| (e) | Affiliate of the Fund. |
| (f) | Annualized 7-day yield as of period end. |
| (g) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer |
Value at 07/31/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 10/31/21 |
Shares Held at 10/31/21 |
Income |
Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
| BlackRock Cash Funds: Institutional, SL Agency Shares |
$2,980,120 | $ — | $ | (1,389,159 | )(a) | $ | — | $ | — | $ | 1,590,961 | 1,590,166 | $ | 8,875 | (b) | $ | — | |||||||||||||||||||
| BlackRock Cash Funds: Treasury, SL Agency Shares |
870,000 | 230,000 | (a) | — | — | — | 1,100,000 | 1,100,000 | 10 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| $ | — | $ | — | $ | 2,690,961 | $ | 8,885 | $ | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| (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. 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 each Fund has the ability to access; |
| 2 |
| Schedule of Investments (unaudited) (continued) October 31, 2021 |
BlackRock Future Tech ETF |
Fair Value Measurements (continued)
| • | 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 Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Investments |
||||||||||||||||
| Assets |
||||||||||||||||
| Common Stocks |
$ | 12,985,569 | $ | 4,025,851 | $ | 220,984 | $ | 17,232,404 | ||||||||
| Money Market Funds |
2,690,961 | — | — | 2,690,961 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| $ | 15,676,530 | $ | 4,025,851 | $ | 220,984 | $ | 19,923,365 | |||||||||
|
|
|
|
|
|
|
|
|
|||||||||
The following table includes a rollforward for the period ended October 31, 2021 of investments whose values are classified as Level 3 as of the beginning or end of the period .
| Common Stocks | ||||||||
| Opening balance, as of 10/31/2021(a) |
$ | — | ||||||
| Transfers into Level 3 |
— | |||||||
| Transfers out of Level 3 |
— | |||||||
| Other |
— | |||||||
| Accrued discounts/premiums |
— | |||||||
| Net realized gain (loss) |
— | |||||||
| Net change in unrealized appreciation (depreciation) |
1,557 | |||||||
| Purchases |
219,427 | |||||||
| Sales |
— | |||||||
|
|
|
|||||||
| Closing balance, as of 10/31/2021 |
$ | 220,984 | ||||||
|
|
|
|||||||
| Net change in unrealized appreciation/depreciation on investments still held at end of period |
$ | 1,557 | ||||||
|
|
|
|||||||
| (a) | Commencement of operations. |
The Fund’s investments that are categorized as Level 3 were valued utilizing a single broker quote without adjustment. Such valuations are based on unobservable inputs. A significant change in third party information could result in a significantly lower or higher value of such Level 3 investments.
| Portfolio Abbreviations - Equity | ||
| ADR |
American Depositary Receipt | |
| NVS |
Non-Voting Shares | |
| 3 |