NPORT-EX 2 NPORT_9ETD_69109420_0423.htm BlackRock Future Health ETF

Schedule of Investments  (unaudited)

April 30, 2023

   

BlackRock Future Health ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

    
Biotechnology — 34.7%            

4D Molecular Therapeutics Inc.(a)

     265     $   4,773  

Abcam PLC, SP ADR(a)

     3,650       59,458  

Alkermes PLC(a)

     2,934       83,766  

Allakos Inc.(a)

     370       1,573  

Alnylam Pharmaceuticals Inc.(a)

     446       88,843  

Apellis Pharmaceuticals Inc.(a)

     435       36,292  

Arcus Biosciences Inc.(a)

     215       3,838  

Arcutis Biotherapeutics Inc.(a)(b)

     900       12,456  

Argenx SE, ADR(a)

     54       20,946  

Arrowhead Pharmaceuticals Inc.(a)

     230       8,144  

Aura Biosciences Inc.(a)

     320       2,893  

Bavarian Nordic A/S(a)

     210       5,775  

BeiGene Ltd., ADR(a)(b)

     220       56,091  

Biogen Inc.(a)

     200       60,846  

Biohaven Ltd., NVS(a)

     225       2,943  

BioMarin Pharmaceutical Inc.(a)

     1,000       96,040  

Biomea Fusion Inc.(a)

     446       13,144  

Blueprint Medicines Corp.(a)

     907       46,302  

Bridgebio Pharma Inc.(a)(b)

     180       2,614  

Cerevel Therapeutics Holdings Inc.(a)

     732       21,257  

CRISPR Therapeutics AG(a)(b)

     240       11,746  

CureVac NV(a)

     700       5,159  

Decibel Therapeutics Inc.(a)

     353       1,137  

Design Therapeutics Inc.(a)

     183       1,180  

Exact Sciences Corp.(a)

     644       41,261  

Exelixis Inc.(a)

     1,434       26,242  

FibroGen Inc.(a)

     179       3,064  

Frequency Therapeutics Inc.(a)

     630       251  

Galapagos NV, ADR(a)

     442       17,238  

Galecto Inc.(a)

     610       1,074  

Genmab A/S(a)

     84       34,521  

Genmab A/S, ADR(a)(b)

     272       11,155  

Gilead Sciences Inc.

     1,298       106,709  

Halozyme Therapeutics Inc.(a)

     615       19,760  

Horizon Therapeutics PLC(a)

     200       22,232  

Immunocore Holdings PLC(a)(b)

     930       53,986  

ImmunoGen Inc.(a)

     693       3,735  

Incyte Corp.(a)

     989       73,591  

Ionis Pharmaceuticals Inc.(a)(b)

     1,146       40,534  

Iovance Biotherapeutics Inc.(a)

     460       2,594  

IVERIC bio Inc.(a)

     235       7,729  

Karuna Therapeutics Inc.(a)

     59       11,708  

Keros Therapeutics Inc.(a)

     343       15,214  

Kinnate Biopharma Inc.(a)

     553       1,399  

Krystal Biotech Inc.(a)

     74       6,216  

Legend Biotech Corp., ADR(a)

     567       38,959  

MacroGenics Inc.(a)

     520       3,583  

Merus NV(a)

     995       19,084  

Mirati Therapeutics Inc.(a)

     500       22,155  

Monte Rosa Therapeutics Inc.(a)

     344       1,562  

MoonLake Immunotherapeutics, NVS(a)

     315       6,710  

Morphic Holding Inc.(a)

     315       14,887  

MorphoSys AG(a)

     145       3,046  

Neurocrine Biosciences Inc.(a)

     542       54,764  

Nuvalent Inc., Class A(a)

     413       14,616  

PMV Pharmaceuticals Inc.(a)

     723       3,333  

Prime Medicine Inc., NVS(a)(b)

     1,056       14,541  

Prometheus Biosciences Inc.(a)

     223       43,251  
Security   Shares     Value  
Biotechnology (continued)            

Protagonist Therapeutics Inc.(a)

     1,170     $   26,442  

Prothena Corp. PLC(a)

     320       16,838  

PTC Therapeutics Inc.(a)(b)

     550       30,327  

Regeneron Pharmaceuticals Inc.(a)

     120       96,215  

Relay Therapeutics Inc.(a)

     95       1,080  

REVOLUTION Medicines Inc.(a)

     931       21,869  

Rhythm Pharmaceuticals Inc.(a)(b)

     1,725       34,793  

Rocket Pharmaceuticals Inc.(a)

     684       12,257  

Sage Therapeutics Inc.(a)(b)

     805       39,324  

Sarepta Therapeutics Inc.(a)

     311       38,181  

Seagen Inc.(a)

     274       54,800  

Sigilon Therapeutics Inc.(a)

     722       498  

Swedish Orphan Biovitrum AB(a)

     650       15,818  

Tenaya Therapeutics Inc.(a)

     354       1,882  

TScan Therapeutics Inc.(a)(b)

     1,378       3,142  

Twist Bioscience Corp.(a)(b)

     447       5,579  

Ultragenyx Pharmaceutical Inc.(a)

     222       9,695  

United Therapeutics Corp.(a)

     161       37,051  

Vaxcyte Inc.(a)

     122       5,225  

Vertex Pharmaceuticals Inc.(a)

     481       163,891  

Viking Therapeutics Inc.(a)

     650       13,851  

Viridian Therapeutics Inc.(a)

     231       6,475  
   

 

 

  
      2,023,153  
Financial Services — 0.6%            

DA32 Life Science Tech Acquisition Corp., Class A(a)

     3,181       32,414  
   

 

 

  
Electronic Equipment, Instruments & Components — 0.1%  

908 Devices Inc.(a)

     648       4,381  
   

 

 

  
Health Care Equipment & Supplies — 35.2%            

Abiomed Inc., CVR(c)

     246       694  

Alcon Inc.

     2,110       152,933  

Align Technology Inc.(a)

     162       52,699  

Bausch + Lomb Corp.(a)(b)

     1,238       21,616  

Baxter International Inc

     1,015       48,395  

Becton Dickinson and Co.

     225       59,470  

Boston Scientific Corp.(a)

     3,048       158,862  

CONMED Corp.

     270       33,904  

ConvaTec Group PLC(d)

     11,764       32,522  

Cooper Companies Inc. (The)

     312       119,012  

Dexcom Inc.(a)

     1,131       137,236  

Glaukos Corp.(a)

     298       14,158  

Heska Corp.(a)

     140       16,402  

Hologic Inc.(a)(b)

     1,038       89,278  

Inspire Medical Systems Inc.(a)(b)

     135       36,130  

Insulet Corp.(a)

     317       100,819  

Intuitive Surgical Inc.(a)

     373       112,355  

iRhythm Technologies Inc.(a)

     275       36,135  

Masimo Corp.(a)

     570       107,810  

Novocure Ltd.(a)(b)

     577       38,024  

Nyxoah SA(a)(b)

     1,368       11,053  

Omnicell Inc.(a)

     339       20,601  

Penumbra Inc.(a)

     306       86,941  

Pulmonx Corp.(a)

     879       10,328  

ResMed Inc.

     569       137,106  

Shockwave Medical Inc.(a)(b)

     139       40,332  

SI-BONE Inc.(a)

     448       9,901  

STAAR Surgical Co.(a)

     188       13,248  

STERIS PLC

     465       87,676  

Straumann Holding AG

     300       45,135  

Stryker Corp.

     455       136,341  
 

 

 

    

   1

Schedule of Investments  (unaudited) (continued)

April 30, 2023

   

BlackRock Future Health ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Health Care Equipment & Supplies (continued)            

Tandem Diabetes Care Inc.(a)

     1,023     $ 40,490  

Zimmer Biomet Holdings Inc.

     340       47,070  
   

 

 

  
      2,054,676  
Health Care Providers & Services — 3.6%            

Amedisys Inc.(a)

     228       18,308  

AmerisourceBergen Corp.

     804       134,147  

Encompass Health Corp.

     310       19,887  

Guardant Health Inc.(a)

     561       12,656  

R1 RCM Inc.(a)(b)

     1,644       25,630  
   

 

 

  
      210,628  
Health Care Technology — 0.1%            

Sophia Genetics SA(a)(b)

     619       2,996  
   

 

 

  
Life Sciences Tools & Services — 15.4%            

10X Genomics Inc., Class A(a)

     537       28,155  

Avantor Inc.(a)

     1,805       35,161  

Bio-Rad Laboratories Inc., Class A(a)

     55       24,793  

Bio-Techne Corp.

     747       59,670  

Bruker Corp.

     523       41,385  

Gerresheimer AG

     660       71,919  

IQVIA Holdings Inc.(a)

     380       71,527  

Mettler-Toledo International Inc.(a)

     93       138,710  

Pacific Biosciences of California Inc.(a)(b)

     1,170       12,402  

QIAGEN NV(a)

     1,720       76,729  

Repligen Corp.(a)

     380       57,619  

Thermo Fisher Scientific Inc.

     78       43,282  

Waters Corp.(a)

     266       79,896  

West Pharmaceutical Services Inc.

     377       136,188  

Wuxi Biologics Cayman Inc.(a)(d)

     3,000       17,889  
   

 

 

  
      895,325  
Personal Care Products — 0.2%            

Haleon PLC, ADR, NVS(b)

     1,213       10,759  
   

 

 

  
Pharmaceuticals — 5.3%            

Arvinas Inc.(a)

     641       16,801  

Catalent Inc.(a)

     928       46,511  

Merck & Co. Inc.

     402       46,419  

Novo Nordisk A/S, Class B

     175       29,112  

Pliant Therapeutics Inc.(a)

     367       10,368  

Reata Pharmaceuticals Inc., Class A(a)

     103       10,183  

Structure Therapeutics Inc.(a)

     447       11,197  

UCB SA

     969       90,076  
Security   Shares     Value  
Pharmaceuticals (continued)            

Ventyx Biosciences Inc.(a)

     80     $ 3,008  

Zoetis Inc.

     273       47,988  
   

 

 

  
      311,663  
   

 

 

  

Total Common Stocks — 95.2%
(Cost: $5,432,006)

       5,545,995  
   

 

 

  

Preferred Stocks

    
Life Sciences Tools & Services — 0.6%            

Sartorius AG, Preference Shares, NVS

     95       36,925  
   

 

 

  

Total Preferred Stocks — 0.6%
(Cost: $43,183)

       36,925  
   

 

 

  

Total Long-Term Investments — 95.8%
(Cost: $5,475,189)

       5,582,920  
   

 

 

  

Short-Term Securities

    
Money Market Funds — 13.1%            

BlackRock Cash Funds: Institutional, SL Agency Shares, 5.02%(e)(f)(g)

     545,699       545,863  

BlackRock Cash Funds: Treasury, SL Agency Shares, 4.75%(e)(f)

     220,000       220,000  
   

 

 

  

Total Short-Term Securities — 13.1%
(Cost: $765,791)

       765,863  
   

 

 

  

Total Investments — 108.9%
(Cost: $6,240,980)

       6,348,783  

Liabilities in Excess of Other Assets — (8.9)%

       (519,403 ) 
   

 

 

  

Net Assets — 100.0%

     $ 5,829,380  
   

 

 

  

 

(a)

Non-income producing security.

(b)

All or a portion of this security is on loan.

(c)

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

(d)

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.

(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.

 

 

 

2  

Schedule of Investments  (unaudited) (continued)

April 30, 2023

    BlackRock Future Health ETF

 

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

   $ 133,820      $ 411,950 (a)    $ —      $ 47      $ 46      $ 545,863        545,699      $ 2,555 (b)    $ —  

BlackRock Cash Funds: Treasury, SL Agency Shares

     180,000        40,000 (a)      —        —        —        220,000        220,000        4,880       —  
         

 

 

     

 

 

     

 

 

        

 

 

    

 

 

  
          $ 47      $ 46      $ 765,863         $ 7,435     $ —  
         

 

 

     

 

 

     

 

 

        

 

 

    

 

 

  

 

(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.

Forward Foreign Currency Exchange Contracts

 

Currency Purchased      Currency Sold        Counterparty    Settlement Date              Unrealized
Appreciation
(Depreciation)		  
CHF       121,500                               USD           134,687        Bank of America N.A.      06/15/23         $ 1,913  
DKK                220,000          USD           31,901        BNP Paribas SA      06/15/23                                717  
EUR       94,000          USD           101,392        BNP Paribas SA      06/15/23           2,441  
GBP       20,000          USD                        24,410        BNP Paribas SA      06/15/23           748  
                          

 

 

  
                             5,819  
                          

 

 

  
AUD       90,200          USD           60,316        BNP Paribas SA      06/15/23           (519 ) 
JPY       5,745,000          USD           43,714        Bank of America N.A.      06/15/23           (1,266 ) 
JPY       6,839,000          USD           52,022        BNP Paribas SA      06/15/23           (1,491 ) 
USD       32,376          DKK           220,000        Imperial Bank of Canada      06/15/23           (242 ) 
                          

 

 

  
                             (3,518 ) 
                          

 

 

  
                             $2,301  
                          

 

 

  

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 the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

 

 

    

   3

Schedule of Investments  (unaudited) (continued)

April 30, 2023

   

BlackRock Future Health ETF

 

Fair Value Hierarchy as of Period End (continued)

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

   $ 5,199,488      $ 345,813     $ 694      $ 5,545,995  

Preferred Stocks

     —        36,925       —        36,925  

Short-Term Securities

          

Money Market Funds

     765,863        —       —        765,863  
 

 

 

     

 

 

    

 

 

     

 

 

  
  $ 5,965,351      $ 382,738     $ 694      $ 6,348,783  
 

 

 

     

 

 

    

 

 

     

 

 

  

Derivative Financial Instruments

          

Assets

          

Foreign Currency Exchange Contracts

   $ —      $ 5,819     $ —      $ 5,819  

Liabilities

          

Foreign Currency Exchange Contracts

     —        (3,518 )      —        (3,518 ) 
 

 

 

     

 

 

    

 

 

     

 

 

  
  $ —      $ 2,301     $ —        2,301  
 

 

 

     

 

 

    

 

 

     

 

 

  

 

Portfolio Abbreviation               

ADR

   

American Depositary Receipt

            

NVS

   

Non-Voting Shares

            
Currency Abbreviations               

AUD

   

Australian Dollar

      

GBP

   

            

   

British Pound

CHF

   

Swiss Franc

      

JPY

      

Japanese Yen

DKK

   

Danish Krone

      

USD

      

United States Dollar

EUR

   

Euro

            

 

 

4