NPORT-EX 2 BRScienceandTechnologyTrust.HTM EX-BST

Schedule of Investments  (unaudited)

September 30, 2019

   

BlackRock Science and Technology Trust (BST)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks — 93.8%

 

Communications Equipment — 0.6%  

Viavi Solutions, Inc.(a)

     320,608     $ 4,490,115  
   

 

 

  
Diversified Consumer Services — 1.5%  

Arco Platform Ltd., Class A(a)

     202,229       10,250,988  
   

 

 

  
Diversified Financial Services — 0.4%  

TransferWise, (Acquired 06/03/19, cost $2,471,478)(b)(c)

     27,945       2,549,981  
   

 

 

  
Diversified Telecommunication Services — 0.7%  

Bandwidth, Inc., Class A(a)

     78,413       5,105,470  
   

 

 

  
Electronic Equipment, Instruments & Components — 2.6%  

II-VI, Inc.(a)

     202,183       7,118,863  

Keysight Technologies, Inc.(a)

     53,110       5,164,948  

Sunny Optical Technology Group Co. Ltd.

     416,700       6,116,682  
   

 

 

  
    18,400,493  
Entertainment — 4.2%  

Activision Blizzard, Inc.

     105,302       5,572,582  

NetEase, Inc. — ADR

     15,434       4,108,222  

Netflix, Inc.(a)

     31,059       8,312,010  

Roku, Inc.(a)

     72,495       7,377,091  

UbiSoft Entertainment SA(a)

     64,350       4,639,030  
   

 

 

  
    30,008,935  
Health Care Technology — 0.8%  

Ping An Healthcare and Technology Co.
Ltd.(a)(d)(e)

     149,778       876,410  

Teladoc Health, Inc.(a)

     67,993       4,604,486  
   

 

 

  
    5,480,896  
Hotels, Restaurants & Leisure — 0.5%  

Luckin Coffee, Inc., ADR(a)(d)

     169,294       3,216,586  
   

 

 

  
Interactive Media & Services — 10.7%  

Alphabet, Inc., Class A(a)

     20,147       24,602,308  

Facebook, Inc., Class A(a)

     52,106       9,279,037  

IAC/InterActiveCorp.(a)

     29,384       6,404,830  

Kakao Corp.

     26,107       2,955,712  

Pinterest, Inc., Class A(a)

     123,147       3,257,238  

Tencent Holdings Ltd.

     505,900       21,160,729  

Yandex NV, Class A, Class A(a)

     217,393       7,610,929  
   

 

 

  
    75,270,783  
Internet & Direct Marketing Retail — 9.7%  

Alibaba Group Holding Ltd. — ADR(a)

     133,683       22,355,808  

Amazon.com, Inc.(a)

     14,642       25,417,194  

Delivery Hero SE(a)(e)

     111,629       4,955,810  

Ensogo Ltd.(a)(b)

     173,282       1  

Jasper Infotech Private Ltd., Series I,
(Acquired 08/08/15, cost $1,998,435)(b)(c)

     1,054       267,547  
Security   Shares     Value  
Internet & Direct Marketing Retail (continued)  

Meituan Dianping, Class B(a)

     704,596     $ 7,196,304  

MercadoLibre, Inc.(a)

     14,876       8,200,098  
   

 

 

  
    68,392,762  
IT Services — 22.7%  

Adyen NV(a)(e)

     6,458       4,246,938  

Endava PLC, ADR(a)

     78,413       2,967,932  

GMO Payment Gateway, Inc.

     89,900       6,034,383  

InterXion Holding NV(a)

     84,360       6,871,966  

Klarna Holdings AB, (Acquired 08/07/19, $3,966,981), 0.00%(b)(c)

     17,130       3,883,987  

Mastercard, Inc., Class A

     82,916       22,517,498  

MongoDB, Inc.(a)

     33,711       4,061,501  

Network International Holdings PLC(a)(e)

     496,897       3,268,662  

Okta, Inc.(a)

     87,940       8,658,572  

Pagseguro Digital Ltd., Class A(a)

     165,999       7,687,414  

PayPal Holdings, Inc.(a)

     111,790       11,580,326  

Shopify, Inc., Class A(a)

     27,940       8,707,780  

Square, Inc., Class A(a)

     179,728       11,134,150  

StoneCo Ltd., Class A(a)

     195,851       6,811,698  

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

     106,667       4,000,013  

Twilio, Inc., Class A(a)

     147,350       16,202,606  

Visa, Inc., Class A

     115,980       19,949,720  

Wirecard AG

     35,897       5,744,937  

Wix.com Ltd.(a)

     50,230       5,863,850  
   

 

 

  
    160,193,933  
Professional Services — 0.6%  

HeadHunter Group PLC, ADR

     207,567       4,003,967  
   

 

 

  
Road & Rail — 0.4%  

Uber Technologies, Inc., (Acquired 12/04/14,
cost $3,000,048)(a)(c)

     90,044       2,743,641  
   

 

 

  
Semiconductors & Semiconductor Equipment — 11.0%  

Advanced Micro Devices, Inc.(a)

     280,253       8,124,534  

ASML Holding NV

     40,511       10,047,273  

Cree, Inc.(a)

     121,078       5,932,822  

Inphi Corp.(a)

     89,760       5,479,848  

Lam Research Corp.

     39,946       9,231,920  

Marvell Technology Group Ltd.

     390,593       9,753,107  

Micron Technology, Inc.(a)

     119,800       5,133,430  

Monolithic Power Systems, Inc.

     33,350       5,190,261  

Silicon Laboratories, Inc.(a)

     38,366       4,272,054  

Skyworks Solutions, Inc.

     11,240       890,770  

SOITEC(a)

     83,939       8,290,997  

STMicroelectronics NV

     268,363       5,193,301  
   

 

 

  
    77,540,317  
Software — 24.5%  

Adobe, Inc.(a)

     55,288       15,273,310  

Altair Engineering, Inc., Class A(a)

     128,852       4,460,856  
 

 

 

     1  

Schedule of Investments  (unaudited) (continued)

September 30, 2019

   

BlackRock Science and Technology Trust (BST)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Software (continued)  

Altium Ltd.

     213,893     $ 4,827,060  

Aspen Technology, Inc.(a)

     35,600       4,381,648  

Atlassian Corp. PLC, Class A(a)

     53,354       6,692,726  

Autodesk, Inc.(a)

     57,280       8,460,256  

Avalara, Inc.(a)

     99,895       6,721,934  

Cadence Design Systems, Inc.(a)

     44,495       2,940,230  

Cloudflare, Inc., Class A(a)

     45,084       837,210  

Coupa Software, Inc.(a)

     55,068       7,135,161  

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

     48,112       2,805,411  

Datadog, Inc., Class A(a)

     14,897       505,157  

Elastic NV(a)

     44,805       3,689,244  

Kingdee International Software Group Co. Ltd.

     5,082,000       5,351,745  

Microsoft Corp.

     261,322       36,331,598  

RingCentral, Inc., Class A(a)

     35,077       4,407,776  

salesforce.com, Inc.(a)

     107,052       15,890,799  

ServiceNow, Inc.(a)

     36,100       9,163,985  

Smartsheet, Inc., Class A(a)

     61,397       2,212,134  

SVMK, Inc.(a)

     219,372       3,751,261  

TeamViewer AG(a)

     287,447       7,735,450  

Xero Ltd.(a)

     120,100       5,064,040  

Zendesk, Inc.(a)

     86,906       6,333,709  

Zoom Video Communications, Inc.,
Class A(a)(d)

     44,339       3,378,632  

Zscaler, Inc.(a)

     86,332       4,080,050  
   

 

 

  
      172,431,382  
Technology Hardware, Storage & Peripherals — 2.9%  

Apple, Inc.

     91,186       20,422,928  
   

 

 

  

Total Common Stocks — 93.8%
(Cost — $334,668,667)

 

     660,503,177  
   

 

 

  

Preferred Stocks — 6.1%

 

Diversified Financial Services — 0.3%  

TransferWise (Seed Preferred), (Acquired 06/03/19, cost $849,295), 0.00%(b)(c)

     9,603       876,274  

TransferWise, Series A, (Acquired 06/03/19, cost $1,004,242), 0.00%(b)(c)

     11,355       1,036,144  

TransferWise, Series B, (Acquired 06/03/19, cost $288,408), 0.00%(b)(c)

     3,261       297,566  

TransferWise, Series C, (Acquired 06/03/19, cost $161,315), 0.00%(b)(c)

     1,824       166,440  

TransferWise, Series D, (Acquired 06/03/19, cost $44,579), 0.00%(b)(c)

     504       45,990  
Security   Shares     Value  
Diversified Financial Services (continued)  

TransferWise, Series E, (Acquired 06/03/19, cost $4,688), 0.00%(b)(c)

     53     $ 4,836  
   

 

 

  
      2,427,250  
Internet & Direct Marketing Retail — 0.5%  

Postmates, Inc., (Acquired 01/08/19,
Cost $3,130,001), 0.00%(b)(c)

     392,275       3,593,239  
   

 

 

  
IT Services — 0.9%  

Ant International, Series A-18 (Acquired 05/18/18, $6,492,862), 0.00%(b)(c)

     1,157,373       6,492,863  
   

 

 

  
Semiconductors & Semiconductor Equipment — 0.9%  

Innovium, Inc., Series E (Acquired 08/21/19, $3,000,003)(b)(c)

     353,478       2,990,424  

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

     690,003       3,200,234  
   

 

 

  
      6,190,658  
Software — 1.9%  

C3 AI Inc., Series H (Acquired 08/14/19, $7,129,478), 0.00%(b)(c)

     1,415,000       7,131,600  

GitLab, Inc., Series E (Acquired 09/10/19, $2,915,501)(b)(c)

     156,500       2,915,501  

Unqork, Inc., Series B (Acquired 09/19/19, $3,198,416)(b)(c)

     7,027       3,198,416  
   

 

 

  
      13,245,517  
Transportation — 1.6%  

FlixMobility GmbH, Series F (Acquired 07/26/19, $5,479,356), 0.00%(b)(c)

     275       5,368,536  

Xiaoju Kuaizhi, Inc., Series A-17 (Acquired 07/28/15, cost $3,016,964), 0.00%(b)(c)

     110,003       5,602,453  
   

 

 

  
      10,970,989  
   

 

 

  

Total Preferred Stocks — 6.1%
(Cost — $39,915,343)

 

     42,920,516  
   

 

 

  

Warrants — 0.0%

 

IT Services — 0.0%

 

TRAX Ltd., (Acquired 09/12/19, $0)(e)

     17,065       —  
   

 

 

  

Total Warrants — 0.0%
(Cost — $0)

       —  
   

 

 

  

Total Long-Term Investments — 99.9%
(Cost — $374,584,010)

 

     703,423,693  
   

 

 

  

Short-Term Securities — 0.8%

 

BlackRock Liquidity Funds, T-Fund,
Institutional Class, 1.87%(g)(h)

     1,337,653       1,337,653  
 

 

 

2   

Schedule of Investments  (unaudited) (continued)

September 30, 2019

   

BlackRock Science and Technology Trust (BST)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

SL Liquidity Series, LLC, Money Market
Series, 2.13%(f)(g)(h)

     4,476,974     $ 4,477,869  
   

 

 

  

Total Short-Term Securities — 0.8%
(Cost — $5,815,265)

 

     5,815,522  
   

 

 

  

Options Purchased — 0.0%
(Cost — $7,976)

 

     6,512  
   

 

 

  
          Value  

Total Investments Before Options Written — 100.7%
(Cost — $380,407,251)

   $ 709,245,727  
   

 

 

  

Options Written — (0.5)%
(Premiums Received — $7,050,928)

     (3,814,025 ) 
   

 

 

  

Total Investments, Net of Options Written — 100.2%
(Cost — $373,356,323)

     705,431,702  

Liabilities in Excess of Other Assets — (0.2)%

     (1,114,107 ) 
   

 

 

  

Net Assets— 100.0%

   $ 704,317,595  
   

 

 

  
 
(a)

Non-income producing security.

(b)

Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(c)

Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $56,365,684, representing 8.00% of its net assets as of period end, and an original cost of $55,352,297.

(d)

Security, or a portion of the security, is on loan.

(e)

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.

(f)

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

(g)

Annualized 7-day yield as of period end.

(h)

During the period ended September 30, 2019, investments in issuers considered to be an affiliate/affiliates of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate    Shares
Held at
12/31/18		      Net
Activity		      Shares
Held at
09/30/19		      Value at
09/30/19		      Income     

Net

Realized
Gain (Loss) (a)

      Change in
Unrealized
Appreciation
(Depreciation)		  

BlackRock Liquidity Funds, T-Fund, Institutional Class

      4,738,937        (3,401,284 )       1,337,653      $ 1,337,653      $ 55,591      $ —      $ —  

SL Liquidity Series, LLC, Money Market Series

      1,710,252        2,766,722        4,476,974        4,477,869        347,835 (b)       255        427  
           

 

 

     

 

 

     

 

 

     

 

 

  
   $ 5,815,522      $ 403,426      $ 255      $ 427  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

  (a)

Includes net capital gain distributions, if applicable.

 
  (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.

 

For Trust compliance purposes, the Trust’s industry classifications refer to one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

 

Currency Abbreviations
AUD    Australian Dollar
EUR    Euro
GBP    British Pound
HKD    Hong Kong Dollar
JPY    Japanese Yen
KRW    South Korean Won
SEK    Swedish Krona
USD    United States Dollar
Portfolio Abbreviations
ADR    American Depositary Receipts
OTC    Over-the-Counter

 

 

     3  

Schedule of Investments  (unaudited) (continued)

September 30, 2019

   

BlackRock Science and Technology Trust (BST)

 

Derivative Financial Instruments Outstanding as of Period End

Exchange-Traded Options Purchased

 

Description    Number of
Contracts		        Expiration
Date		        Exercise
Price		        Notional
Amount (000)		        Value  
Call                                                   

Roku, Inc.

      155          10/18/19        USD     138.00        USD     1,577        $ 3,487  

Shopify, Inc., Class A

      25          10/18/19        USD     400.00        USD     779          688  

Twilio, Inc., Class A

      103          10/18/19        USD     135.00        USD     1,133          1,442  

Zoom Video Communications, Inc.

      6          10/18/19        USD     90.00        USD     46          75  

Zscaler, Inc.

      82          10/18/19        USD     65.00        USD     388          820  
                          

 

 

  
     $ 6,512  
    

 

 

  

Exchange-Traded Options Written

 

Description    Number of
Contracts		        Expiration
Date		        Exercise
Price		        Notional
Amount (000)		        Value  
Call  

Activision Blizzard, Inc.

      88          10/04/19        USD     51.00        USD     466        $ (19,404 ) 

Adobe, Inc.

      50          10/04/19        USD     295.00        USD     1,381          (250 ) 

Advanced Micro Devices, Inc.

      154          10/04/19        USD     31.00        USD     446          (1,155 ) 

Alibaba Group Holding Ltd. — ADR

      59          10/04/19        USD     172.50        USD     987          (4,012 ) 

Alphabet, Inc., Class A

      24          10/04/19        USD     1,205.00        USD     2,931          (51,720)  

Atlassian Corp. PLC, Class A

      14          10/04/19        USD     145.00        USD     176          (210 ) 

Cree, Inc.

      124          10/04/19        USD     51.00        USD     608          (1,984 ) 

Luckin Coffee, Inc. — ADR

      148          10/04/19        USD     24.00        USD     281          (4,440 ) 

Marvell Technology Group Ltd.

      53          10/04/19        USD     25.50        USD     132          (636 ) 

Micron Technology, Inc.

      140          10/04/19        USD     46.00        USD     600          (630 ) 

Microsoft Corp.

      158          10/04/19        USD     140.00        USD     2,197          (11,455 ) 

MongoDB, Inc.

      16          10/04/19        USD     157.50        USD     193          (240 ) 

NetEase, Inc. — ADR

      14          10/04/19        USD     265.00        USD     373          (7,210 ) 

Netflix, Inc.

      28          10/04/19        USD     300.00        USD     749          (280 ) 

Okta, Inc.

      79          10/04/19        USD     133.00        USD     778          (395 ) 

ServiceNow, Inc.

      58          10/04/19        USD     270.00        USD     1,472          (1,450 ) 

Shopify, Inc., Class A

      25          10/04/19        USD     405.00        USD     779          (125 ) 

Skyworks Solutions, Inc.

      100          10/04/19        USD     76.00        USD     793          (33,000 ) 

Twilio, Inc., Class A

      137          10/04/19        USD     136.00        USD     1,506          (685 ) 

Visa, Inc., Class A

      78          10/04/19        USD     185.00        USD     1,342          (78 ) 

Yandex NV, Class A

      188          10/04/19        USD     40.00        USD     658          (940 ) 

Zoom Video Communications, Inc., Class A

      12          10/04/19        USD     100.00        USD     91          (120 ) 

Zscaler, Inc.

      164          10/04/19        USD     74.00        USD     775          (8,200 ) 

salesforce.com, Inc.

      71          10/04/19        USD     157.50        USD     1,054          (568 ) 

Activision Blizzard, Inc.

      88          10/11/19        USD     51.50        USD     466          (18,524 ) 

Advanced Micro Devices, Inc.

      185          10/11/19        USD     31.50        USD     536          (3,422 ) 

Alibaba Group Holding Ltd. — ADR

      75          10/11/19        USD     175.00        USD     1,254          (8,137 ) 

Alphabet, Inc., Class A

      1          10/11/19        USD     1,235.00        USD     122          (1,085 ) 

Amazon.com, Inc.

      6          10/11/19        USD     1,835.00        USD     1,042          (1,086 ) 

Atlassian Corp. PLC, Class A

      17          10/11/19        USD     145.00        USD     213          (595 ) 

Autodesk, Inc.

      83          10/11/19        USD     145.00        USD     1,226          (39,010 ) 

Facebook, Inc., Class A

      84          10/11/19        USD     195.00        USD     1,496          (588 ) 

Lam Research Corp.

      39          10/11/19        USD     225.00        USD     901          (35,978 ) 

Marvell Technology Group Ltd.

      53          10/11/19        USD     25.50        USD     132          (1,537 ) 

 

 

4   

Schedule of Investments  (unaudited) (continued)

September 30, 2019

   

BlackRock Science and Technology Trust (BST)

 

Exchange-Traded Options Written (continued)

 

Description    Number of
Contracts		        Expiration
Date		        Exercise
Price		        Notional
Amount (000)		        Value  
Call (continued)  

Marvell Technology Group Ltd.

      61          10/11/19        USD     27.00        USD     152        $ (183 ) 

Mastercard, Inc., Class A

      152          10/11/19        USD     292.50        USD     4,128          (1,824 ) 

Micron Technology, Inc.

      140          10/11/19        USD     50.50        USD     600          (350 ) 

Microsoft Corp.

      75          10/11/19        USD     140.00        USD     1,043          (11,213 ) 

Microsoft Corp.

      50          10/11/19        USD     142.00        USD     695          (3,750 ) 

MongoDB, Inc.

      37          10/11/19        USD     175.00        USD     446          (370 ) 

Okta, Inc.

      74          10/11/19        USD     140.00        USD     729          (370 ) 

PayPal Holdings, Inc.

      95          10/11/19        USD     112.00        USD     984          (950 ) 

ServiceNow, Inc.

      30          10/11/19        USD     270.00        USD     762          (3,300 ) 

Shopify, Inc., Class A

      35          10/11/19        USD     400.00        USD     1,091          (525 ) 

Square, Inc., Class A

      274          10/11/19        USD     65.00        USD     1,697          (18,495 ) 

Twilio, Inc., Class A

      137          10/11/19        USD     138.00        USD     1,506          (9,453 ) 

Visa, Inc., Class A

      163          10/11/19        USD     185.00        USD     2,804          (1,630 ) 

Yandex NV, Class A

      210          10/11/19        USD     37.50        USD     735          (2,100 ) 

Zoom Video Communications, Inc., Class A

      12          10/11/19        USD     96.00        USD     91          (1,200 ) 

Microsoft Corp.

      25          10/17/19        USD     143.00        USD     348          (2,246 ) 

AC/InterActiveCorp

      103          10/18/19        USD     260.00        USD     2,245          (2,060 ) 

Adobe, Inc.

      37          10/18/19        USD     300.00        USD     1,022          (1,147 ) 

Advanced Micro Devices, Inc.

      309          10/18/19        USD     34.00        USD     896          (2,626 ) 

Alibaba Group Holding Ltd. — ADR

      60          10/18/19        USD     185.00        USD     1,003          (2,610 ) 

Alphabet, Inc., Class A

      25          10/18/19        USD     1,215.00        USD     3,053          (65,000 ) 

Altair Engineering, Inc., Class A

      220          10/18/19        USD     35.00        USD     762          (22,550 ) 

Altair Engineering, Inc., Class A

      230          10/18/19        USD     36.52        USD     796          (11,543 ) 

Amazon.com, Inc.

      17          10/18/19        USD     1,880.00        USD     2,951          (2,805 ) 

Apple, Inc.

      49          10/18/19        USD     220.00        USD     1,097          (35,525 ) 

Aspen Technology, Inc.

      62          10/18/19        USD     135.00        USD     763          (4,650 ) 

Atlassian Corp. PLC, Class A

      17          10/18/19        USD     140.00        USD     213          (2,550 ) 

Autodesk, Inc.

      60          10/18/19        USD     155.00        USD     886          (7,050 ) 

Avalara, Inc.

      175          10/18/19        USD     85.00        USD     1,178          (2,625 ) 

Cloudflare, Inc.

      79          10/18/19        USD     25.00        USD     147          (790 ) 

Coupa Software, Inc.

      192          10/18/19        USD     140.00        USD     2,488          (38,400 ) 

Cree, Inc.

      100          10/18/19        USD     45.00        USD     490          (44,000 ) 

Crowdstrike Holdings, Inc.

      120          10/18/19        USD     95.00        USD     700          (600 ) 

Facebook, Inc., Class A

      20          10/18/19        USD     190.00        USD     356          (1,120 ) 

II-VI, Inc.

      380          10/18/19        USD     40.00        USD     1,338          (4,750 ) 

Inphi Corp.

      314          10/18/19        USD     65.00        USD     1,917          (24,335 ) 

InterXion Holding NV

      82          10/18/19        USD     80.00        USD     668          (20,705 ) 

Lam Research Corp.

      60          10/18/19        USD     210.00        USD     1,387          (136,050 ) 

Marvell Technology Group Ltd.

      211          10/18/19        USD     26.00        USD     527          (5,697 ) 

Marvell Technology Group Ltd.

      62          10/18/19        USD     27.00        USD     155          (496 ) 

Mastercard, Inc., Class A

      77          10/18/19        USD     280.00        USD     2,091          (14,900 ) 

MercadoLibre, Inc.

      26          10/18/19        USD     570.00        USD     1,433          (23,010 ) 

Microsoft Corp.

      25          10/18/19        USD     145.00        USD     348          (1,212 ) 

Microsoft Corp.

      7          10/18/19        USD     140.00        USD     97          (1,526 ) 

MongoDB, Inc.

      16          10/18/19        USD     160.00        USD     193          (240 ) 

Monolithic Power Systems, Inc.

      116          10/18/19        USD     160.00        USD     1,805          (37,700 ) 

Netflix, Inc.

      45          10/18/19        USD     310.00        USD     1,204          (14,625 ) 

Pagseguro Digital Ltd., Class A

      290          10/18/19        USD     50.00        USD     1,343          (21,025 ) 

PayPal Holdings, Inc.

      153          10/18/19        USD     110.00        USD     1,585          (8,797 ) 

RingCentral, Inc., Class A

      61          10/18/19        USD     140.00        USD     767          (3,050 ) 

Roku, Inc.

      116          10/18/19        USD     140.00        USD     1,180          (2,436 ) 

Roku, Inc.

      39          10/18/19        USD     160.00        USD     397          (273 ) 

 

 

     5  

Schedule of Investments  (unaudited) (continued)

September 30, 2019

   

BlackRock Science and Technology Trust (BST)

 

Exchange-Traded Options Written (continued)

 

Description    Number of
Contracts		        Expiration
Date		        Exercise
Price		        Notional
Amount (000)		        Value  
Call (continued)  

SVMK, Inc.

      204          10/18/19        USD     20.00        USD     349        $ (1,020 ) 

ServiceNow, Inc.

      30          10/18/19        USD     280.00        USD     762          (2,100 ) 

Shopify, Inc., Class A

      25          10/18/19        USD     415.00        USD     779          (312 ) 

Shopify, Inc., Class A

      15          10/18/19        USD     375.00        USD     467          (1,050 ) 

Shopify, Inc., Class A

      8          10/18/19        USD     335.00        USD     249          (4,080 ) 

Silicon Laboratories, Inc.

      121          10/18/19        USD     115.00        USD     1,347          (23,293 ) 

Square, Inc., Class A

      105          10/18/19        USD     65.00        USD     650          (11,393 ) 

StoneCo Ltd.

      217          10/18/19        USD     35.00        USD     755          (30,923 ) 

StoneCo Ltd.

      216          10/18/19        USD     39.00        USD     751          (5,940 ) 

Teladoc Health, Inc.

      119          10/18/19        USD     65.00        USD     806          (52,360 ) 

Twilio, Inc., Class A

      103          10/18/19        USD     140.00        USD     1,133          (1,287 ) 

Viavi Solutions, Inc.

      255          10/18/19        USD     15.00        USD     357          (3,060 ) 

Visa, Inc., Class A

      61          10/18/19        USD     180.00        USD     1,049          (4,971 ) 

Wix.com Ltd.

      85          10/18/19        USD     130.00        USD     992          (3,187 ) 

Yandex NV, Class A

      215          10/18/19        USD     38.00        USD     753          (2,687 ) 

Zendesk, Inc.

      91          10/18/19        USD     82.50        USD     663          (2,957 ) 

Zoom Video Communications, Inc.

      6          10/18/19        USD     100.00        USD     46          (30 ) 

Zoom Video Communications, Inc., Class A

      6          10/18/19        USD     105.00        USD     46          (30 ) 

Zscaler, Inc.

      164          10/18/19        USD     75.00        USD     775          (1,640 ) 

salesforce.com, Inc.

      83          10/18/19        USD     155.00        USD     1,232          (9,752 ) 

Adobe, Inc.

      35          10/25/19        USD     290.00        USD     967          (8,872 ) 

Alibaba Group Holding Ltd. — ADR

      66          10/25/19        USD     187.50        USD     1,104          (3,366 ) 

Alphabet, Inc.

      7          10/25/19        USD     1,270.00        USD     855          (5,180 ) 

Alphabet, Inc., Class A

      7          10/25/19        USD     1,250.00        USD     855          (9,380 ) 

Apple, Inc.

      79          10/25/19        USD     227.50        USD     1,769          (31,008 ) 

Crowdstrike Holdings, Inc., Class A

      60          10/25/19        USD     73.50        USD     350          (2,400 ) 

Lam Research Corp.

      40          10/25/19        USD     245.00        USD     924          (16,200 ) 

Luckin Coffee, Inc. — ADR

      296          10/25/19        USD     21.00        USD     562          (11,100 ) 

Marvell Technology Group Ltd.

      332          10/25/19        USD     26.50        USD     829          (8,466 ) 

Marvell Technology Group Ltd.

      62          10/25/19        USD     27.00        USD     155          (992 ) 

Mastercard, Inc., Class A

      61          10/25/19        USD     282.50        USD     1,657          (13,664 ) 

Microsoft Corp.

      104          10/25/19        USD     144.00        USD     1,446          (17,784 ) 

MongoDB, Inc.

      7          10/25/19        USD     150.00        USD     84          (350 ) 

MongoDB, Inc.

      30          10/25/19        USD     147.00        USD     361          (2,100 ) 

NetEase, Inc. — ADR

      40          10/25/19        USD     280.00        USD     1,065          (17,200 ) 

PayPal Holdings, Inc.

      143          10/25/19        USD     109.00        USD     1,481          (20,235 ) 

Pinterest, Inc., Class A

      150          10/25/19        USD     30.50        USD     397          (5,625 ) 

Roku, Inc.

      40          10/25/19        USD     157.50        USD     407          (520 ) 

ServiceNow, Inc.

      29          10/25/19        USD     280.00        USD     736          (9,715 ) 

Twilio, Inc., Class A

      37          10/25/19        USD     139.00        USD     407          (1,628 ) 

Twilio, Inc., Class A

      30          10/25/19        USD     136.00        USD     330          (690 ) 

Twilio, Inc., Class A

      37          10/25/19        USD     124.00        USD     407          (3,922 ) 

Zoom Video Communications, Inc., Class A

      13          10/25/19        USD     86.00        USD     99          (520 ) 

InterXion Holding NV

      213          10/30/19        USD     81.58        USD     1,735          (51,491 ) 

Activision Blizzard, Inc.

      96          11/01/19        USD     57.00        USD     508          (6,192 ) 

Adobe, Inc.

      71          11/01/19        USD     290.00        USD     1,961          (24,673 ) 

Advanced Micro Devices, Inc.

      177          11/01/19        USD     33.50        USD     513          (10,266 ) 

Alibaba Group Holding Ltd. — ADR

      131          11/01/19        USD     190.00        USD     2,191          (8,908 ) 

Alphabet, Inc., Class A

      6          11/01/19        USD     1,240.00        USD     733          (18,870 ) 

Amazon.com, Inc.

      6          11/01/19        USD     1,800.00        USD     1,042          (19,890 ) 

Apple, Inc.

      54          11/01/19        USD     230.00        USD     1,209          (26,190 ) 

Autodesk, Inc.

      57          11/01/19        USD     155.00        USD     842          (13,053 ) 

 

 

6   

Schedule of Investments  (unaudited) (continued)

September 30, 2019

   

BlackRock Science and Technology Trust (BST)

 

Exchange-Traded Options Written (continued)

 

Description    Number of
Contracts		        Expiration
Date		        Exercise
Price		        Notional
Amount (000)		        Value  
Call (continued)  

Facebook, Inc., Class A

      78          11/01/19        USD     185.00        USD     1,389        $ (33,540 ) 

Luckin Coffee, Inc. — ADR

      49          11/01/19        USD     21.00        USD     93          (2,695 ) 

Marvell Technology Group Ltd.

      62          11/01/19        USD     27.00        USD     155          (1,519 ) 

Marvell Technology Group Ltd.

      164          11/01/19        USD     26.50        USD     410          (5,904 ) 

Micron Technology, Inc.

      140          11/01/19        USD     49.00        USD     600          (4,130 ) 

Microsoft Corp.

      470          11/01/19        USD     142.00        USD     6,534          (153,925 ) 

MongoDB, Inc.

      31          11/01/19        USD     150.00        USD     373          (2,790 ) 

Okta, Inc.

      78          11/01/19        USD     110.00        USD     768          (14,040 ) 

Pinterest, Inc., Class A

      141          11/01/19        USD     31.50        USD     373          (8,812 ) 

Roku, Inc.

      167          11/01/19        USD     108.00        USD     1,699          (106,463 ) 

ServiceNow, Inc.

      33          11/01/19        USD     285.00        USD     838          (10,065 ) 

Shopify, Inc., Class A

      7          11/01/19        USD     365.00        USD     218          (3,150 ) 

Square, Inc., Class A

      125          11/01/19        USD     61.50        USD     774          (39,688 ) 

Twilio, Inc., Class A

      169          11/01/19        USD     119.00        USD     1,858          (56,869 ) 

Twilio, Inc., Class A

      38          11/01/19        USD     124.00        USD     418          (6,308 ) 

Visa, Inc., Class A

      103          11/01/19        USD     182.50        USD     1,772          (25,750 ) 

Yandex NV, Class A

      74          11/01/19        USD     37.50        USD     259          (4,810 ) 

Zoom Video Communications, Inc., Class A

      2          11/01/19        USD     85.00        USD     15          (155 ) 

salesforce.com, Inc.

      92          11/01/19        USD     155.00        USD     1,366          (20,286 ) 

Activision Blizzard, Inc.

      96          11/08/19        USD     57.00        USD     508          (10,752 ) 

Marvell Technology Group Ltd.

      307          11/08/19        USD     26.00        USD     767          (18,881 ) 

MongoDB, Inc.

      16          11/08/19        USD     129.00        USD     193          (8,960 ) 

Okta, Inc.

      208          11/08/19        USD     110.00        USD     2,048          (47,320 ) 

Advanced Micro Devices, Inc.

      155          11/15/19        USD     30.00        USD     449          (29,683 ) 

Amazon.com, Inc.

      23          11/15/19        USD     1,860.00        USD     3,993          (53,360 ) 

Avalara, Inc.

      174          11/15/19        USD     90.00        USD     1,171          (11,745 ) 

Bandwidth, Inc., Class A

      156          11/15/19        USD     75.00        USD     1,016          (40,170 ) 

Cadence Design Systems, Inc.

      155          11/15/19        USD     70.00        USD     1,024          (25,188 ) 

Cloudflare, Inc.

      78          11/15/19        USD     22.50        USD     145          (6,630 ) 

Cree, Inc.

      199          11/15/19        USD     50.00        USD     975          (56,914 ) 

Elastic NV

      156          11/15/19        USD     95.00        USD     1,285          (25,740 ) 

II-VI, Inc.

      287          11/15/19        USD     40.00        USD     1,011          (22,960 ) 

Keysight Technologies, Inc.

      98          11/15/19        USD     100.00        USD     953          (30,870 ) 

Keysight Technologies, Inc.

      87          11/15/19        USD     105.00        USD     846          (12,398 ) 

MercadoLibre, Inc.

      26          11/15/19        USD     580.00        USD     1,433          (73,320 ) 

MongoDB, Inc.

      15          11/15/19        USD     145.00        USD     181          (3,412 ) 

Netflix, Inc.

      35          11/15/19        USD     270.00        USD     937          (60,463 ) 

Pagseguro Digital Ltd., Class A

      290          11/15/19        USD     50.00        USD     1,343          (58,000 ) 

Pinterest, Inc., Class A

      140          11/15/19        USD     28.00        USD     370          (25,550 ) 

RingCentral, Inc., Class A

      61          11/15/19        USD     140.00        USD     767          (17,080 ) 

Shopify, Inc., Class A

      24          11/15/19        USD     355.00        USD     748          (20,640 ) 

Smartsheet, Inc., Class A

      107          11/15/19        USD     45.00        USD     386          (3,745 ) 

Square, Inc., Class A

      125          11/15/19        USD     65.00        USD     774          (37,813 ) 

Viavi Solutions, Inc.

      306          11/15/19        USD     15.00        USD     429          (11,934 ) 

Wix.com Ltd.

      90          11/15/19        USD     125.00        USD     1,051          (35,550 ) 

Yandex NV, Class A

      74          11/15/19        USD     38.00        USD     259          (5,735 ) 

Zoom Video Communications, Inc., Class A

      2          11/15/19        USD     85.00        USD     15          (260 ) 

salesforce.com, Inc.

      128          11/15/19        USD     160.00        USD     1,900          (21,824 ) 

Viavi Solutions, Inc.

      305          12/20/19        USD     16.00        USD     427          (9,912 ) 
                          

 

 

  
                           $ (2,705,816 ) 
                          

 

 

  

 

 

     7  

Schedule of Investments  (unaudited) (continued)

September 30, 2019

   

BlackRock Science and Technology Trust (BST)

 

OTC Options Written

 

Description   

Counterparty

    Number of
Contracts		      Expiration
Date		      Exercise
Price		      Notional
Amount (000)		      Value  
Call                                                

Adyen NV

    Credit Suisse International      2,300        10/03/19      EUR     677.32      EUR     1,388      $ (11 ) 

SOITEC

    UBS AG      17,000        10/03/19      EUR     89.00      EUR     1,541        (51,105 ) 

Smartsheet, Inc., Class A

    JPMorgan Chase Bank N.A.      10,700        10/04/19      USD     48.83      USD     386        —  

Ping An Healthcare and Technology Co. Ltd.

    JPMorgan Chase Bank N.A.      137,700        10/08/19      HKD     40.50      HKD     6,315        (95,547 ) 

Kingdee International Software Group

    Morgan Stanley & Co. International PLC      578,000        10/09/19      HKD     8.47      HKD     4,769        (17,655 ) 

Wirecard AG

    Goldman Sachs International      5,650        10/10/19      EUR     152.50      EUR     830        (11,778 ) 

STMicroelectronics NV

    Goldman Sachs International      22,600        10/16/19      EUR     17.09      EUR     401        (23,880 ) 

Endava American Depository Shares

    Credit Suisse International      8,700        10/17/19      USD     40.43      USD     329        (3,065 ) 

Kingdee International Software Group

    JPMorgan Chase Bank N.A.      624,000        10/17/19      HKD     8.01      HKD     5,148        (44,098 ) 

Bandwidth, Inc., Class A

    Citibank N.A.      11,800        10/18/19      USD     81.05      USD     768        (294 ) 

Meituan Dianping

    Goldman Sachs International      112,700        10/22/19      HKD     75.96      HKD     9,022        (76,378 ) 

Network International Holdings PLC

    UBS AG      105,100        10/23/19      GBP     5.72      GBP     562        (6,942 ) 

Tencent Holdings Ltd.

    Goldman Sachs International      79,600        10/23/19      HKD     358.21      HKD     26,095        (7,729 ) 

UbiSoft Entertainment SA

    Goldman Sachs International      11,800        10/23/19      EUR     73.73      EUR     780        (4,078 ) 

Aspen Technology, Inc.

    Morgan Stanley & Co. International PLC      6,200        10/24/19      USD     134.56      USD     763        (3,401 ) 

Teladoc Health, Inc.

    Barclays Bank PLC      11,800        10/28/19      USD     77.20      USD     799        (11,659 ) 

Delivery Hero AG

    Morgan Stanley & Co. International PLC      12,500        10/29/19      EUR     46.78      EUR     509        (3,448 ) 

Endava American Depository Shares

    Credit Suisse International      10,000        10/29/19      USD     39.11      USD     379        (10,459 ) 

Kingdee International Software Group

    Goldman Sachs International      577,000        10/29/19      HKD     9.02      HKD     4,760        (19,097 ) 

Viavi Solutions, Inc.

    Citibank N.A.      25,600        10/29/19      USD     14.96      USD     359        (6,586 ) 

Xero Ltd.

    Goldman Sachs International      21,000        10/29/19      AUD     66.73      AUD     1,312        (10,048 ) 

Arco Platform Ltd., Class A

    JPMorgan Chase Bank N.A.      10,600        10/30/19      USD     52.50      USD     537        (23,204 ) 

GMO Payment Gateway, Inc.

    Goldman Sachs International      15,700        10/30/19      JPY     7,554.60      JPY     113,946        (38,622 ) 

Tencent Holdings Ltd.

    Goldman Sachs International      97,500        10/30/19      HKD     343.17      HKD     31,963        (44,020 ) 

ASML Holding NV

    Morgan Stanley & Co. International PLC      8,500        11/01/19      EUR     223.56      EUR     1,932        (88,955 ) 

SVMK, Inc.

    JPMorgan Chase Bank N.A.      18,800        11/01/19      USD     19.08      USD     321        (6,645 ) 

Wirecard AG

    UBS AG      6,900        11/01/19      EUR     154.45      EUR     1,013        (28,005 ) 

Adyen NV

    Citibank N.A.      500        11/05/19      EUR     653.86      EUR     302        (2,969 ) 

Altium Ltd.

    UBS AG      37,400        11/05/19      AUD     35.62      AUD     1,251        (20,274 ) 

Delivery Hero AG

    Morgan Stanley & Co. International PLC      26,600        11/05/19      EUR     43.80      EUR     1,083        (25,563 ) 

GMO Payment Gateway, Inc.

    Goldman Sachs International      15,700        11/05/19      JPY     7,554.60      JPY     113,946        (43,267 ) 

Meituan Dianping, Class B

    Societe Generale      134,000        11/05/19      HKD     77.66      HKD     10,727        (74,503 ) 

UbiSoft Entertainment SA

    UBS AG      10,800        11/05/19      EUR     70.66      EUR     714        (18,859 ) 

Arco Platform Ltd., Class A

    JPMorgan Chase Bank N.A.      10,600        11/06/19      USD     53.00      USD     537        (24,694 ) 

Endava PLC

    Credit Suisse International      4,300        11/06/19      USD     40.61      USD     163        (3,353 ) 

STMicroelectronics NV

    Morgan Stanley & Co. International PLC      63,500        11/06/19      EUR     19.00      EUR     1,127        (30,494 ) 

Sunny Optical Technology Group Co., Ltd.

    JPMorgan Chase Bank N.A.      41,700        11/06/19      HKD     125.08      HKD     4,798        (15,219 ) 

StoneCo Ltd., Class A

    JPMorgan Chase Bank N.A.      25,200        11/07/19      USD     37.87      USD     876        (29,541 ) 

Xero Ltd.

    UBS AG      21,000        11/07/19      AUD     67.85      AUD     1,312        (9,897 ) 

SVMK, Inc.

    JPMorgan Chase Bank N.A.      18,700        11/08/19      USD     19.27      USD     320        (7,459 ) 

SVMK, Inc.

    JPMorgan Chase Bank N.A.      18,800        11/11/19      USD     19.45      USD     321        (7,512 ) 

 

 

8   

Schedule of Investments  (unaudited) (continued)

September 30, 2019

   

BlackRock Science and Technology Trust (BST)

 

OTC Options Written (continued)

 

Description    Counterparty    Number of
Contracts		     

Expiration

Date

     

Exercise

Price

     

Notional

Amount (000)

      Value  
Call (continued)                                                    

Adyen NV

    Citibank N.A.      500        11/12/19        EUR       653.86        EUR       302      $ (3,841 ) 

Altium Ltd.

    Societe Generale      37,400        11/12/19        AUD       35.59        AUD       1,251        (23,931 ) 

Sunny Optical Technology Group Co., Ltd.

    JPMorgan Chase Bank N.A.      41,700        11/12/19        HKD       125.08        HKD       4,798        (17,651 ) 

Endava PLC

    Credit Suisse International      4,400        11/13/19        USD       39.81        USD       167        (5,115 ) 

SOITEC SA

    Goldman Sachs International      12,400        11/14/19        EUR       92.97        EUR       1,124        (48,395 ) 

ASML Holding NV

    Goldman Sachs International      5,700        11/19/19        EUR       230.78        EUR       1,297        (49,399 ) 

Network International Holdings PLC

    Citibank N.A.      60,000        11/22/19        GBP       5.67        GBP       321        (9,564 ) 
                     

 

 

  
                      $ (1,108,209 ) 
                     

 

 

  

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows

 

  •  

Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access

 

  •  

Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

  •  

Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments and derivative 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 BlackRock Global Valuation Methodologies Committee (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 investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments, refer to the Trust’s most recent financial statements as contained in its annual/semi-annual report.

The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy:

 

      Level 1        Level 2        Level 3        Total  

Assets:

                 

Investments:

                 

Common Stocks:

                  

Communications Equipment

   $ 4,490,115        $ —        $ —        $ 4,490,115  

Diversified Consumer Services

     10,250,988          —          —          10,250,988  

Diversified Financial Services

     —          —          2,549,981          2,549,981  

Diversified Telecommunication Services

     5,105,470          —          —          5,105,470  

Electronic Equipment, Instruments & Components

     12,283,811          6,116,682          —          18,400,493  

 

 

     9  

Schedule of Investments  (unaudited) (continued)

September 30, 2019

   

BlackRock Science and Technology Trust (BST)

 

Fair Value Hierarchy as of Period End (continued)

 

      Level 1        Level 2        Level 3        Total  

Entertainment

   $ 25,369,905        $ 4,639,030        $ —        $ 30,008,935  

Health Care Technology

     4,604,486          876,410          —          5,480,896  

Hotels, Restaurants & Leisure

     3,216,586          —          —          3,216,586  

Interactive Media & Services

     51,154,342          24,116,441          —          75,270,783  

Internet & Direct Marketing Retail

     55,973,100          12,152,114          267,548          68,392,762  

IT Services

     133,015,013          19,294,920          7,884,000          160,193,933  

Professional Services

     4,003,967          —          —          4,003,967  

Road & Rail

     2,743,641          —          —          2,743,641  

Semiconductors & Semiconductor Equipment

     54,008,746          23,531,571          —          77,540,317  

Software

     157,188,537          15,242,845          —          172,431,382  

Technology Hardware, Storage & Peripherals

     20,422,928          —          —          20,422,928  

Options Purchased:

                  

Equity contracts

      6,512          —          —          6,512  

Preferred Stocks(a)

      —          —          42,920,516          42,920,516  

Warrants(a)

      —          —          —          —  

Short-Term Securities

     1,337,653          —          —          1,337,653  
  

 

 

       

 

 

       

 

 

       

 

 

  

Subtotal

    $ 545,175,800        $ 105,970,013        $ 53,622,045        $ 704,767,858  
  

 

 

       

 

 

       

 

 

       

 

 

  

Investments Valued at Net Asset Value (“NAV”)(b)

                     4,477,869  
                 

 

 

  

Total Investments

                     709,245,727  
                 

 

 

  

Derivative Financial Instruments(c)

                  

Liabilities:

                 

Equity contracts

   $ (2,640,536 )       $ (1,173,489 )         —        $ (3,814,025 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

See above Schedule of Investments for values in each sector.

 
  (b) 

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

 
  (c) 

Derivative financial instruments are options written. Options written are shown at value.

 

A reconciliation of Level 3 investments is presented when the Trust had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:

 

      Common Stocks        Preferred Stock        Total  

Assets:

             

Opening balance, as of December 31, 2018

    $ 211,760        $ 15,491,176        $ 15,702,936  

Transfers into Level 3

      —          —          —  

Transfers out of Level 3

      —          —          —  

Accrued discounts/premiums

      —          —          —  

Net realized gain (loss)

      —          —          —  

Net change in unrealized appreciation (depreciation)(a)

     51,297          23,871          75,168  

Purchases

      10,438,472          30,405,516          40,843,988  

Sales

      —          (3,000,047 )         (3,000,047 ) 
  

 

 

       

 

 

       

 

 

  

Closing balance, as of September 30, 2019

    $ 10,701,529        $ 42,920,516        $ 53,622,045  
  

 

 

       

 

 

       

 

 

  

Net change in unrealized appreciation (depreciation) on investments still held at September 30, 2019(a)

   $ 51,297        $ 1,073,102        $ 1,124,399  
  

 

 

       

 

 

       

 

 

  

 

  (a) 

Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at September 30, 2019 is generally due to investments no longer held or categorized as Level 3 at period end.

 

 

 

10   

Schedule of Investments  (unaudited) (continued)

September 30, 2019

   

BlackRock Science and Technology Trust (BST)

 

The following table summarizes the valuation approaches used and unobservable inputs utilized by the BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) to determine the value of certain of the Fund’s Level 3 investments as of period end. The table does not include Level 3 investments with values based upon unadjusted third party pricing information in the amount of $1. A significant change in the third party information could result in a significantly lower or higher value of such Level 3 investments.

 

      Value        Valuation
Approach		        Unobservable Inputs        Range of
unobservable
Inputs Utilized (a)		      Weighted
Average of
Unobservable
Inputs		  

Assets:

                     

Common Stocks

    $ 10,701,528          Market          Revenue Multiple          5.54x - 13.75x        12.97x  
               Recent Transactions          —        —  

Preferred Stocks(b)

      42,920,516          Market          Revenue Multiple          3.72x - 13.75x        8.21x  
               Volatility          32 %       —  
               Time to Exit          2.9        —  
               Recent Transactions          —        —  
  

 

 

                    
   $ 53,622,044                    
  

 

 

                    

 

  (a) 

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

 
  (b)

For the period end September 30, 2019, the valuation technique for investments classified as Preferred Stocks amounting to $5,602,453 changed to Transaction Price approach. The investments were previously valued utilizing Current Value approach. The change was due to consideration of the information that was available at the time the investments were valued.

 

 

 

     11