NPORT-EX 2 NPORT_9ETI_48861098_0423.htm BlackRock Future U.S. Themes ETF

Schedule of Investments  (unaudited)     

April 30, 2023

   

BlackRock Future U.S. Themes ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

    
Air Freight & Logistics — 0.1%            

CH Robinson Worldwide Inc.(a)

     21     $ 2,118  

United Parcel Service Inc., Class B

     25       4,495  
   

 

 

  
      6,613  
Beverages — 1.0%            

Coca-Cola Co. (The)

     434       27,841  

PepsiCo Inc.

     77       14,699  
   

 

 

  
      42,540  
Building Products — 1.2%            

Builders FirstSource Inc.(b)

     97       9,192  

Johnson Controls International PLC

     739       44,222  
   

 

 

  
          53,414  
Capital Markets — 1.0%            

Affiliated Managers Group Inc.

     207       29,887  

Ameriprise Financial Inc.

     42       12,815  

Raymond James Financial Inc.

     35       3,168  
   

 

 

  
      45,870  
Chemicals — 1.0%            

Chemours Co. (The)

     822       23,896  

Olin Corp.

     356       19,722  
   

 

 

  
      43,618  
Commercial Services & Supplies — 1.9%            

Clean Harbors Inc.(b)

     168       24,387  

Copart Inc.(b)

     190       15,020  

Waste Connections Inc.

     288       40,075  

Waste Management Inc.

     25       4,151  
   

 

 

  
      83,633  
Communications Equipment — 0.3%            

Calix Inc.(b)

     340       15,538  
   

 

 

  
Construction & Engineering — 2.0%            

AECOM

     698       57,969  

EMCOR Group Inc.(a)

     145       24,795  

Quanta Services Inc.

     17       2,884  

Valmont Industries Inc.

     18       5,230  
   

 

 

  
      90,878  
Distributors — 1.5%            

Genuine Parts Co.

     269       45,276  

LKQ Corp.

     362       20,898  
   

 

 

  
      66,174  
Financial Services — 9.3%            

Berkshire Hathaway Inc., Class B(b)

     570       187,273  
Essent Group Ltd   110     4,672  

Mastercard Inc., Class A

     203       77,146  

Shift4 Payments Inc., Class A(a)(b)

     359       24,329  

Visa Inc., Class A

     509       118,460  
   

 

 

  
      411,880  
Electrical Equipment — 1.4%            

Acuity Brands Inc.

     7       1,102  

AMETEK Inc.

     195       26,896  

Hubbell Inc.

     129       34,742  
   

 

 

  
      62,740  
Electronic Equipment, Instruments & Components — 3.3%  

Amphenol Corp., Class A

     1,050       79,244  

Arrow Electronics Inc.(b)

     166       18,995  

CDW Corp./DE

     5       848  

Jabil Inc.

     515       40,247  
Security   Shares      Value  
Electronic Equipment, Instruments & Components (continued)         

Keysight Technologies Inc.(b)

     65      $ 9,402  
    

 

 

  
       148,736  
Energy Equipment & Services — 0.1%             

ChampionX Corp.

     244        6,608  
    

 

 

  
Consumer Staples Distribution & Retail — 7.1%         

BJ’s Wholesale Club Holdings Inc.(b)

     1,193        91,109  

Costco Wholesale Corp.

     59        29,690  

Dollar General Corp.

     161        35,655  

Dollar Tree Inc.(b)

     183        28,129  

Kroger Co. (The)

     1,858        90,355  

Target Corp.

     72        11,358  

Walmart Inc.

     189        28,533  
    

 

 

  
           314,829  
Food Products — 2.1%             

Archer-Daniels-Midland Co.

     110        8,589  

Darling Ingredients Inc.(b)

     321        19,122  

General Mills Inc.

     343        30,400  

Hershey Co. (The)

     69        18,841  

JM Smucker Co. (The)

     7        1,081  

Kellogg Co.

     192        13,396  
    

 

 

  
       91,429  
Health Care Providers & Services — 3.5%             

Humana Inc.

     73        38,726  

McKesson Corp.

     27        9,834  

Molina Healthcare Inc.(b)

     9        2,681  

UnitedHealth Group Inc.

     211        103,831  
    

 

 

  
       155,072  
Hotels, Restaurants & Leisure — 2.0%             

McDonald’s Corp.

     307        90,795  
    

 

 

  
Household Durables — 0.5%             

DR Horton Inc.

     48        5,271  

PulteGroup Inc.

     257        17,258  
    

 

 

  
       22,529  
Household Products — 0.5%             

Procter & Gamble Co. (The)

     148        23,144  
    

 

 

  
Insurance — 2.7%             

Allstate Corp. (The)

     50        5,788  

American Financial Group Inc./OH

     42        5,155  

Arch Capital Group Ltd.(b)

     449        33,706  

Chubb Ltd.

     10        2,016  

Marsh & McLennan Companies Inc.

     55        9,910  

Progressive Corp. (The)

     315        42,966  

RenaissanceRe Holdings Ltd.

     85        18,310  

W R Berkley Corp.

     51        3,005  
    

 

 

  
       120,856  
Interactive Media & Services — 0.8%             

Meta Platforms Inc, Class A(b)

     143        34,366  
    

 

 

  
IT Services — 2.0%             

Accenture PLC, Class A

     129        36,158  

Okta Inc.(b)

     746        51,123  
    

 

 

  
       87,281  
Leisure Products — 0.1%             

Brunswick Corp./DE

     53        4,494  
    

 

 

  
Machinery — 2.5%             

Dover Corp.

     40        5,846  
 

 

 

1

  

Schedule of Investments  (unaudited) (continued)

April 30, 2023

   

BlackRock Future U.S. Themes ETF

(Percentages shown are based on Net Assets)

 

Security   Shares      Value  
Machinery (continued)             

Evoqua Water Technologies Corp.(b)

     1,050      $ 51,923  

Graco Inc.

     221        17,523  

Lincoln Electric Holdings Inc.

     173        29,029  

Toro Co. (The)

     34        3,545  

Xylem Inc./NY

     30        3,115  
    

 

 

  
       110,981  
Marine Transportation — 0.2%             

Matson Inc.

     105        7,143  
Metals & Mining — 1.3%             

Commercial Metals Co.

     71        3,315  

Nucor Corp.

     98        14,522  

Reliance Steel & Aluminum Co.

     13        3,221  

Steel Dynamics Inc.

     280        29,106  

U.S. Steel Corp.

     347        7,939  
    

 

 

  
       58,103  
Broadline Retail — 0.9%             

Dillard’s Inc., Class A(a)

     109        32,524  

Nordstrom Inc.

     376        5,813  
    

 

 

  
       38,337  
Oil, Gas & Consumable Fuels — 4.3%             

Chevron Corp.

     272        45,854  

Chord Energy Corp.

     7        996  

ConocoPhillips

     205        21,093  

Diamondback Energy Inc.

     36        5,119  

Exxon Mobil Corp.

     413        48,874  

Matador Resources Co.

     445        21,818  

Murphy Oil Corp.

     53        1,946  

Ovintiv Inc.

     87        3,139  

PDC Energy Inc.

     564        36,688  

Pioneer Natural Resources Co.

     33        7,179  
    

 

 

  
       192,706  
Paper & Forest Products — 0.2%             

Louisiana-Pacific Corp.

     177        10,574  
    

 

 

  
Professional Services — 4.5%             

Automatic Data Processing Inc.

     60        13,200  

Booz Allen Hamilton Holding Corp.

     541        51,785  

CACI International Inc., Class A(b)

     21        6,580  

FTI Consulting Inc.(b)

     62        11,191  

Genpact Ltd.

     530        23,611  

Paychex Inc.

     135        14,831  

SS&C Technologies Holdings Inc.

     1,382        80,902  
    

 

 

  
       202,100  
Ground Transportation — 3.2%             

JB Hunt Transport Services Inc.

     56        9,816  

Old Dominion Freight Line Inc.

     328        105,088  

Ryder System Inc.

     259        20,503  

Union Pacific Corp.

     26        5,088  
    

 

 

  
       140,495  
Semiconductors & Semiconductor Equipment — 7.4%         

Analog Devices Inc.

     576        103,611  

Broadcom Inc.

     154        96,481  

Cirrus Logic Inc.(b)

     237        20,332  

KLA Corp.

     10        3,865  

ON Semiconductor Corp.(a)(b)

     422        30,367  

Semtech Corp.(b)

     26        507  

Texas Instruments Inc.

     443        74,070  
    

 

 

  
       329,233  
Security   Shares      Value  
Software — 16.2%             

Adobe Inc.(b)

     155      $ 58,522  

Cadence Design Systems Inc.(b)

     346        72,470  

Check Point Software Technologies Ltd.(b)

     984        125,322  

Crowdstrike Holdings Inc., Class A(b)

     215        25,811  

DocuSign Inc.(b)

     1,024        50,627  

Fortinet Inc.(b)

     783        49,368  

Microsoft Corp.

     490        150,557  

Oracle Corp.

     17        1,610  

Palo Alto Networks Inc.(a)(b)

     674        122,978  

Salesforce Inc.(b)

     17        3,372  

Synopsys Inc.(b)

     75        27,849  

Tenable Holdings Inc.(b)

     106        3,921  

Zscaler Inc.(a)(b)

     301        27,120  
    

 

 

  
       719,527  
Specialty Retail — 3.5%             

AutoZone Inc.(b)

     3        7,990  

Home Depot Inc. (The)

     160        48,086  

Lowe’s Companies Inc.

     67        13,925  

Murphy USA Inc.

     26        7,156  

Penske Automotive Group Inc.(a)

     119        16,491  

TJX Companies Inc. (The)

     589        46,425  

Ulta Beauty Inc.(b)

     30        16,543  
    

 

 

  
       156,616  
Technology Hardware, Storage & Peripherals — 4.8%         

Apple Inc.

     1,100        186,648  

Dell Technologies Inc., Class C

     614        26,703  
    

 

 

  
       213,351  
Textiles, Apparel & Luxury Goods — 2.0%             

Capri Holdings Ltd.(b)

     44        1,826  

Carter’s Inc.

     31        2,163  

Crocs Inc.(b)

     315        38,956  

Deckers Outdoor Corp.(b)

     11        5,273  

Nike Inc., Class B

     318        40,297  
    

 

 

  
       88,515  
Tobacco — 0.2%             

Philip Morris International Inc.

     81        8,098  
    

 

 

  
Trading Companies & Distributors — 2.3%             

Fastenal Co.

     170        9,153  

MSC Industrial Direct Co. Inc., Class A

     172        15,606  

United Rentals Inc.

     40        14,444  

WESCO International Inc.

     341        49,104  

WW Grainger Inc.

     19        13,216  
    

 

 

  
       101,523  
    

 

 

  

Total Long-Term Investments — 98.9%
(Cost: $4,274,928)

        4,400,339  
    

 

 

  

Short-Term Securities

     
Money Market Funds — 6.6%             

BlackRock Cash Funds: Institutional,
SL Agency Shares,

     

5.02%(c)(d)(e)

     255,129        255,206  
 

 

 

  2

Schedule of Investments  (unaudited) (continued)

April 30, 2023

   

BlackRock Future U.S. Themes ETF

    (Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Money Market Funds (continued)            

BlackRock Cash Funds: Treasury, SL Agency Shares, 4.75%(c)(d)

     40,000     $ 40,000  
   

 

 

  

Total Short-Term Securities — 6.6%
(Cost: $295,200)

       295,206  
   

 

 

  

Total Investments — 105.5%
(Cost: $4,570,128)

       4,695,545  

Liabilities in Excess of Other Assets — (5.5)%

       (246,688 ) 
   

 

 

  

Net Assets — 100.0%

     $ 4,448,857  
   

 

 

  

 

(a) 

All or a portion of this security is on loan.

(b) 

Non-income producing security.

(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 the cash collateral from loaned securities.

 

 

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period endedApril 30, 2023 for purposes of Section 2(a)(3) of the Investment CompanyAct of 1940, as amended, were as follows:

 

Affiliated Issuer    
 Value at
07/31/22		  
 		    
 Purchases
at Cost		  
 		    
 Proceeds
from Sale		  
 		    
 Net Realized
Gain (Loss)		  
 		    


 Change in
Unrealized
Appreciation
(Depreciation)		  
 
 
 		    
 Value at
04/30/23		  
 		    

 Shares
Held at
04/30/23		  
 
 		     Income      





 Capital

Gain
Distributions
from
Underlying
Funds

  

 
 
 
 
 

BlackRock Cash Funds: Institutional, SL Agency Shares

   $ —     $ 255,253 (a)    $ —     $ (53 )    $ 6     $ 255,206       255,129     $ 194 (b)    $ —  

BlackRock Cash Funds: Treasury, SL Agency Shares

     70,000       —       (30,000 )(a)      —       —       40,000       40,000       1,231       —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  
        $ (53 )    $ 6     $ 295,206       $ 1,425     $ —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  

 

  (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

Futures Contracts

 

Description    Number of
Contracts		      Expiration
Date		      Notional
Amount
(000)		      Value/
Unrealized
Appreciation
(Depreciation)		  

Long Contracts

            

Micro E-Mini S&P 500 Index

      2        06/16/23      $ 42      $ 2,934  
           

 

 

  

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 each Fund 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 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 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

 

 

3

  

Schedule of Investments  (unaudited) (continued)

April 30, 2023

   

BlackRock Future U.S. Themes ETF

 

Fair Value Hierarchy as of Period End (continued)

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  

Assets

            

Investments

            

Long-Term Investments

            

Common Stocks

    $ 4,400,339      $ —      $ —      $ 4,400,339  

Short-Term Securities

            

Money Market Funds

      295,206        —        —        295,206  
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 4,695,545      $ —      $ —      $ 4,695,545  
  

 

 

     

 

 

     

 

 

     

 

 

  
           

Derivative Financial Instruments(a)

            

Assets

            

Equity Contracts

    $ 2,934      $ —      $ —      $ 2,934  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

  (a) 

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

 

 

 

  4