NPORT-EX 2 NPORT_9ETE_69442029_1023.htm BlackRock World ex US Carbon Transition Readiness ETF

Schedule of Investments  (unaudited) 

October 31, 2023

   

BlackRock World ex U.S. Carbon Transition Readiness ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

    
Australia — 6.0%            

Aristocrat Leisure Ltd.

     86,139     $ 2,117,304  

Australia & New Zealand Banking Group Ltd.

     15,159       239,042  

BlueScope Steel Ltd.

     15,295       183,348  

Brambles Ltd.

     55,671       464,616  

Cochlear Ltd.

     6,909       1,058,971  

Commonwealth Bank of Australia

     8,147       501,170  

CSL Ltd.

     15,362       2,270,382  

Fortescue Metals Group Ltd.

     134,056       1,907,056  

GPT Group (The)

     289,314       667,687  

IDP Education Ltd.

     4,020       55,542  

IGO Ltd.

     120,528       729,841  

Insurance Australia Group Ltd.

     23,011       83,013  

Lottery Corp. Ltd. (The)

     189,271       546,344  

Macquarie Group Ltd.

     53,566       5,506,043  

Medibank Pvt Ltd.

     235,701       514,365  

Mineral Resources Ltd.

     9,357       344,873  

Mirvac Group

     122,743       142,413  

National Australia Bank Ltd.

     119,410       2,139,140  

Pilbara Minerals Ltd.(a)

    133,399       313,354  

Qantas Airways Ltd.(b)

    333,520       1,044,886  

QBE Insurance Group Ltd.

     42,048       416,952  

REA Group Ltd.

     6,807       624,914  

Rio Tinto Ltd.

     7,171       535,660  

Santos Ltd.

     16,330       79,682  

Stockland

     439,405       991,711  

Suncorp Group Ltd.

     50,653       431,140  

Transurban Group

     63,197       475,778  

Vicinity Ltd.

     369,775       400,515  

Wesfarmers Ltd.

     39,153       1,259,701  

Westpac Banking Corp.

     72,989       958,475  

Woodside Energy Group Ltd.

     39,827       867,424  
   

 

 

  
      27,871,342  
Austria — 0.3%            

Erste Group Bank AG

     5,527       197,918  

Verbund AG

     11,481       997,546  
   

 

 

  
      1,195,464  
Belgium — 1.2%            

Ageas SA/NV

     4,236       162,717  

Anheuser-Busch InBev SA/NV

     35,816       2,037,861  

KBC Group NV

     1,838       101,154  

Umicore SA

     125,407       2,983,788  

Warehouses De Pauw CVA

     5,237       129,576  
   

 

 

  
      5,415,096  
Canada — 10.2%            

Algonquin Power & Utilities Corp.

     73,830       371,612  

Alimentation Couche-Tard Inc.

     3,475       189,167  

ARC Resources Ltd.

     45,063       724,973  

Bank of Nova Scotia (The)

     117,866       4,772,436  

BCE Inc.

     40,385       1,499,203  

Brookfield Asset Management Ltd.

     8,094       232,008  

Brookfield Corp., Class A

     56,706       1,652,008  

Canadian Pacific Kansas City Ltd.

     13,234       939,621  

CCL Industries Inc., Class B, NVS

     5,520       215,824  

CGI Inc.(b)

    18,575       1,793,273  

Empire Co. Ltd., Class A, NVS

     33,004       904,382  

Enbridge Inc.

     133,046       4,263,612  

First Quantum Minerals Ltd.

     14,979       173,580  

Fortis Inc.

     13,244       525,844  

Franco-Nevada Corp.

     38,309       4,660,341  

Gildan Activewear Inc.

     4,511       128,133  
Security   Shares     Value  
Canada (continued)            

iA Financial Corp. Inc.

     1,064     $ 61,910  

IGM Financial Inc.

     3,253       73,235  

Loblaw Companies Ltd.

     6,593       539,231  

Manulife Financial Corp.

     25,510       444,068  

Metro Inc.

     1,771       89,958  

Northland Power Inc.

     63,161       887,693  

Nutrien Ltd.

     10,253       550,671  

Parkland Corp.

     41,752       1,263,625  

Pembina Pipeline Corp.

     5,438       167,365  

Restaurant Brands International Inc.

     47,032       3,159,208  

Royal Bank of Canada

     89,821       7,174,021  

Shopify Inc., Class A(b)

    46,835       2,211,808  

Sun Life Financial Inc.

     71,814       3,280,115  

TELUS Corp.

     82,001       1,322,187  

Toronto-Dominion Bank (The)

     55,895       3,122,139  
   

 

 

  
      47,393,251  
Denmark — 3.2%            

Chr Hansen Holding A/S

     3,356       229,013  

Danske Bank A/S

     91,981       2,157,756  

DSV A/S

     16,068       2,401,216  

Genmab A/S(b)

    133       37,597  

Novo Nordisk A/S

     91,321       8,810,304  

Vestas Wind Systems A/S(b)

    54,671       1,184,981  
   

 

 

  
      14,820,867  
Finland — 0.8%            

Fortum OYJ

     29,256       347,369  

Neste OYJ

     29,416       988,611  

Stora Enso OYJ, Class R

     7,675       92,241  

Wartsila OYJ Abp

     185,591       2,214,749  
   

 

 

  
      3,642,970  
France — 10.5%            

Airbus SE

     3,900       522,897  

Alstom SA

     4,166       56,418  

Amundi SA(c)

    18,861       985,286  

Arkema SA

     2,382       223,200  

AXA SA

     25,612       758,894  

BioMerieux

     10,612       1,018,884  

Bollore SE

     66,417       362,573  

Capgemini SE

     9,600       1,696,597  

Carrefour SA

     71,363       1,251,098  

Cie. de Saint-Gobain

     15,222       828,597  

Danone SA

     3,014       179,304  

Dassault Systemes SE

     18,615       766,815  

Engie SA

     43,527       692,292  

EssilorLuxottica SA

     9,896       1,792,002  

Gecina SA

     1,553       152,490  

Hermes International

     487       908,657  

Ipsen SA

     5,957       704,072  

Klepierre SA

     25,489       618,969  

La Francaise des Jeux SAEM(c)

    3,050       98,384  

Legrand SA

     38,962       3,370,461  

L’Oreal SA

     10,770       4,526,959  

LVMH Moet Hennessy Louis Vuitton SE

     11,022       7,890,984  

Publicis Groupe SA

     3,050       232,237  

Remy Cointreau SA

     644       73,172  

Renault SA

     11,749       412,204  

Sanofi

     40,089       3,640,331  

Sartorius Stedim Biotech

     1,425       266,792  

Schneider Electric SE

     42,111       6,479,085  

SEB SA

     1,771       175,128  

Sodexo SA

     12,191       1,290,156  
 

 

 

    

   1

Schedule of Investments  (unaudited) (continued)

October 31, 2023

   

BlackRock World ex U.S. Carbon Transition Readiness ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
France (continued)            

Teleperformance

     4,293     $ 493,874  

TotalEnergies SE

     79,588       5,321,054  

Vinci SA

     1,857       205,337  

Vivendi SE

     56,259       504,502  

Wendel SE

     1,824       136,631  

Worldline SA/France(b)(c)

    21,606       274,740  
   

 

 

  
        48,911,076  
Germany — 5.6%            

adidas AG

     960       170,695  

Allianz SE, Registered

     17,685       4,142,578  

BASF SE

     19,129       883,896  

Commerzbank AG

     10,800       116,484  

Covestro AG(b)(c)

    8,780       444,814  

Deutsche Bank AG, Registered

     35,935       395,449  

Deutsche Post AG, Registered

     18,821       734,838  

Deutsche Telekom AG, Registered

     120,852       2,622,931  

E.ON SE

     52,191       620,975  

HeidelbergCement AG

     8,640       627,206  

HelloFresh SE(b)

    2,778       60,764  

Henkel AG & Co. KGaA

     1,657       104,723  

Mercedes-Benz Group AG

     19,740       1,161,388  

Merck KGaA

     10,106       1,526,394  

Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered

     5,821       2,336,014  

Puma SE

     5,740       325,275  

Rational AG

     161       91,815  

SAP SE

     33,545       4,499,469  

Siemens AG, Registered

     24,515       3,253,112  

Siemens Healthineers AG(c)

    30,641       1,507,438  

Vonovia SE

     8,093       186,318  

Zalando SE(b)(c)

    14,738       344,729  
   

 

 

  
      26,157,305  
Hong Kong — 1.9%            

AIA Group Ltd.

     462,800       4,018,864  

Budweiser Brewing Co. APAC Ltd.(c)

    563,500       1,070,845  

Hang Lung Properties Ltd.

     227,000       298,382  

Hang Seng Bank Ltd.

     61,800       706,565  

Hong Kong Exchanges & Clearing Ltd.

     24,200       846,580  

MTR Corp. Ltd.

     269,500       1,007,441  

Sands China Ltd.(b)

    50,400       135,679  

Swire Pacific Ltd., Class A

     127,500       814,449  
   

 

 

  
      8,898,805  
Ireland — 0.2%            

Bank of Ireland Group PLC

     44,168       395,821  

Flutter Entertainment PLC, Class DI(b)

    1,409       221,294  

Smurfit Kappa Group PLC

     10,733       349,852  
   

 

 

  
      966,967  
Israel — 0.2%            

Bank Leumi Le-Israel BM

     40,483       260,748  

CyberArk Software Ltd.(b)

    1,839       300,934  

Nice Ltd.(b)

    1,097       168,165  

Wix.com Ltd.(b)

    3,205       256,079  
   

 

 

  
      985,926  
Italy — 2.0%            

Amplifon SpA

     6,760       191,061  

Enel SpA

     545,765       3,464,287  

FinecoBank Banca Fineco SpA

     79,620       939,249  

Intesa Sanpaolo SpA

     747,172       1,946,974  

Telecom Italia SpA/Milano(a)(b)

    511,590       132,278  
Security   Shares     Value  
Italy (continued)            

UniCredit SpA

     100,006     $     2,507,112  
   

 

 

  
      9,180,961  
Japan — 19.8%            

Advantest Corp.

     64,800       1,669,158  

Ajinomoto Co. Inc.

     9,100       332,356  

Asahi Group Holdings Ltd.

     21,900       792,132  

Astellas Pharma Inc.

     15,000       189,748  

Azbil Corp.

     2,100       62,052  

BayCurrent Consulting Inc.

     1,900       47,703  

Chugai Pharmaceutical Co. Ltd.

     20,100       596,097  

CyberAgent Inc.(a)

    178,300       935,977  

Dai Nippon Printing Co. Ltd.

     60,500       1,578,279  

Daifuku Co. Ltd.

     34,500       570,040  

Daiichi Sankyo Co. Ltd.

     33,600       866,349  

Daikin Industries Ltd.

     13,300       1,917,579  

Denso Corp.

     212,500       3,137,846  

ENEOS Holdings Inc.

     533,600       1,977,210  

Fast Retailing Co. Ltd.

     1,600       354,234  

Fuji Electric Co. Ltd.

     28,100       1,069,897  

FUJIFILM Holdings Corp.

     4,900       268,019  

Fujitsu Ltd.

     12,100       1,567,524  

Hankyu Hanshin Holdings Inc.(a)

    46,900       1,475,642  

Hitachi Ltd.

     38,200       2,421,367  

Honda Motor Co. Ltd.

     590,100       6,047,800  

Ibiden Co. Ltd.(a)

    19,300       822,884  

Inpex Corp.

     81,300       1,179,733  

Japan Real Estate Investment Corp.

     67       248,860  

JFE Holdings Inc.

     5,700       79,417  

Kawasaki Kisen Kaisha Ltd.

     3,600       123,444  

Kirin Holdings Co. Ltd.

     174,300       2,449,493  

Komatsu Ltd.

     33,300       765,114  

Kubota Corp.

     101,400       1,363,753  

Kurita Water Industries Ltd.

     30,800       935,809  

Kyocera Corp.

     49,100       2,420,208  

Kyowa Kirin Co. Ltd.

     6,200       97,243  

Lasertec Corp.

     1,000       165,180  

MatsukiyoCocokara & Co.

     3,000       52,625  

Mazda Motor Corp.

     20,700       200,086  

Mitsubishi Corp.

     5,700       265,709  

Mitsubishi Electric Corp.

     325,600       3,733,495  

Mitsubishi Estate Co. Ltd.

     57,100       730,898  

Mitsubishi Heavy Industries Ltd.

     26,500       1,364,873  

Mitsui & Co. Ltd.

     25,700       934,045  

Mitsui OSK Lines Ltd.

     35,300       911,351  

Mizuho Financial Group Inc.

     68,700       1,166,415  

Murata Manufacturing Co. Ltd.

     142,500       2,440,936  

NGK Insulators Ltd.

     139,700       1,706,890  

Nintendo Co. Ltd.

     58,900       2,433,419  

Nippon Building Fund Inc.

     178       715,192  

Nippon Express Holdings Inc.

     22,700       1,166,675  

Nippon Paint Holdings Co. Ltd.

     48,300       324,726  

Nippon Prologis REIT Inc.

     382       679,721  

Nippon Steel Corp.

     81,600       1,760,018  

Nippon Telegraph & Telephone Corp.

     98,000       115,324  

Nippon Yusen KK

     21,800       533,386  

Nissan Motor Co. Ltd.

     24,800       95,430  

Nitto Denko Corp.

     7,400       478,823  

Nomura Holdings Inc.

     486,500       1,879,547  

Nomura Research Institute Ltd.

     42,600       1,118,247  

NTT Data Corp.

     45,300       558,545  

Olympus Corp.

     33,100       442,062  

Omron Corp.

     42,900       1,536,987  
 

 

 

2  

Schedule of Investments  (unaudited) (continued)

October 31, 2023

   

BlackRock World ex U.S. Carbon Transition Readiness ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Japan (continued)            

Panasonic Holdings Corp.

     349,200     $ 3,063,703  

Renesas Electronics Corp.(b)

    31,300           411,145  

Ricoh Co. Ltd.

     10,700       86,725  

Secom Co. Ltd.

     13,800       958,476  

Sekisui Chemical Co. Ltd.

     171,000       2,342,165  

Seven & i Holdings Co. Ltd.

     3,200       117,244  

Shin-Etsu Chemical Co. Ltd.

     52,200       1,560,956  

SoftBank Corp.

     32,900       371,996  

SoftBank Group Corp.

     13,800       565,166  

Sony Group Corp.

     23,400       1,945,449  

Sumitomo Chemical Co. Ltd.

     46,600       118,446  

Sumitomo Metal Mining Co. Ltd.

     20,700       581,503  

Sumitomo Mitsui Trust Holdings Inc.

     26,500       993,665  

Sysmex Corp.

     6,500       311,368  

TDK Corp.

     25,600       957,829  

Terumo Corp.

     47,000       1,285,835  

Tokyo Electron Ltd.

     4,100       541,764  

Toray Industries Inc.

     309,300       1,496,344  

Toshiba Corp.(a)(b)

    104,800       3,185,987  

TOTO Ltd.

     16,800       405,075  

Toyota Industries Corp.

     12,000       889,376  

Toyota Motor Corp.

     179,000       3,131,379  

Trend Micro Inc.

     3,200       120,591  

USS Co. Ltd.

     42,300       739,357  

West Japan Railway Co.

     1,200       45,737  

Yamaha Motor Co. Ltd.

     5,200       127,072  

ZOZO Inc.

     4,600       87,468  
   

 

 

  
      92,315,393  
Netherlands — 3.4%            

ABN AMRO Bank NV, CVA(c)

    21,933       295,407  

Aegon NV

     19,968       97,110  

Akzo Nobel NV

     6,017       403,649  

ASML Holding NV

     13,412       8,062,227  

ING Groep NV

     145,955       1,871,220  

Koninklijke Philips NV(b)

    58,079       1,104,806  

NN Group NV

     54,747       1,755,867  

OCI NV

     1,976       46,042  

Prosus NV(b)

    37,559       1,050,360  

Wolters Kluwer NV

     7,677       985,005  
   

 

 

  
      15,671,693  
New Zealand — 0.0%            

Mercury NZ Ltd.

     72,956       250,774  
   

 

 

  
Norway — 1.5%            

Aker BP ASA

     64,557       1,860,636  

Equinor ASA

     104,068       3,488,692  

Norsk Hydro ASA

     139,961       798,157  

Orkla ASA

     118,610       817,519  
   

 

 

  
      6,965,004  
Portugal — 0.4%            

EDP - Energias de Portugal SA

     61,805       259,735  

Galp Energia SGPS SA

     92,601       1,394,086  

Jeronimo Martins SGPS SA

     18,057       416,302  
   

 

 

  
      2,070,123  
Singapore — 0.8%            

City Developments Ltd.

     119,400       551,127  

DBS Group Holdings Ltd.

     99,500       2,390,320  

Keppel Corp. Ltd.

     41,992       190,616  

Keppel REIT

     8,398       4,876  

United Overseas Bank Ltd.

     36,800       725,869  
   

 

 

  
      3,862,808  
Security   Shares     Value  
Spain — 2.9%            

Acciona SA

     1,815     $ 228,824  

Amadeus IT Group SA

     12,243       698,742  

Banco Bilbao Vizcaya Argentaria SA

     24,812       195,202  

Banco Santander SA

     586,652       2,157,667  

Cellnex Telecom SA(c)

    9,543       280,527  

Endesa SA

     53,417       1,005,023  

Grifols SA(a)(b)

    29,042       325,889  

Iberdrola SA

     577,167       6,419,262  

Industria de Diseno Textil SA

     52,847       1,824,171  

Telefonica SA

     98,641       381,014  
   

 

 

  
      13,516,321  
Sweden — 2.5%            

Atlas Copco AB, Class A

     28,336       366,923  

Atlas Copco AB, Class B

     27,297       306,634  

Boliden AB

     54,928       1,407,977  

EQT AB

     49,336       901,359  

Evolution AB(c)

    5,898       525,544  

Fastighets AB Balder, Class B(a)(b)

    24,565       104,372  

H & M Hennes & Mauritz AB, Class B

     49,030       658,702  

Nibe Industrier AB, Class B

     92,045       530,120  

Nordea Bank Abp

     206,275       2,172,533  

Skandinaviska Enskilda Banken AB, Class A

     64,438       719,097  

Swedbank AB, Class A

     23,193       380,906  

Tele2 AB, Class B

     466,628       3,313,823  

Telefonaktiebolaget LM Ericsson, Class B

     73,103       327,481  
   

 

 

  
      11,715,471  
Switzerland — 10.3%            

ABB Ltd., Registered

     181,476       6,097,178  

Barry Callebaut AG, Registered

     53       80,359  

Chocoladefabriken Lindt & Spruengli AG, Participation Certificates, NVS

     92       1,018,551  

Coca-Cola HBC AG, Class DI

     4,471       116,075  

Dufry AG, Registered(b)

    7,170       251,339  

Julius Baer Group Ltd.

     2,022       119,827  

Kuehne + Nagel International AG, Registered

     1,546       416,900  

Lonza Group AG, Registered

     3,131       1,096,489  

Nestle SA, Registered

     89,951       9,700,201  

Novartis AG, Registered

     77,502       7,255,703  

Partners Group Holding AG

     1,752       1,855,129  

Roche Holding AG, Bearer

     4,354       1,186,513  

Roche Holding AG, NVS

     18,216       4,694,437  

Sandoz Group AG(b)

    15,498       402,933  

Schindler Holding AG, Participation Certificates, NVS

     2,194       443,896  

SGS SA

     4,538       370,621  

Siemens Energy AG(a)(b)

    6,878       61,152  

SIG Group AG

     3,968       87,481  

Sika AG, Registered

     9,380       2,244,722  

Sonova Holding AG, Registered

     8,554       2,027,411  

STMicroelectronics NV

     68,845       2,624,378  

Swiss Life Holding AG, Registered

     2,559       1,643,596  

Swiss Re AG

     19,092       2,086,045  

Swisscom AG, Registered

     129       77,295  

Temenos AG, Registered

     2,116       152,448  

Zurich Insurance Group AG

     3,479       1,652,499  
   

 

 

  
      47,763,178  
United Kingdom — 12.9%            

3i Group PLC

     70,360       1,658,918  

Anglo American PLC

     79,469       2,024,836  

Antofagasta PLC

     11,576       189,285  

AstraZeneca PLC

     53,255       6,667,718  

Auto Trader Group PLC(c)

    54,418       411,631  
 

 

 

    

   3

Schedule of Investments  (unaudited) (continued)

October 31, 2023

   

BlackRock World ex U.S. Carbon Transition Readiness ETF

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
United Kingdom (continued)            

Aviva PLC

     116,610     $ 564,808  

BAE Systems PLC

     58,497       786,572  

Barclays PLC

     692,630       1,111,703  

Berkeley Group Holdings PLC

     26,923       1,323,443  

BP PLC

     468,199       2,858,829  

BT Group PLC

     531,660       730,196  

CNH Industrial NV

     69,424       769,355  

Coca-Cola Europacific Partners PLC

     26,030       1,523,015  

Compass Group PLC

     9,224       232,550  

Croda International PLC

     780       41,571  

Diageo PLC

     120,325       4,550,207  

Entain PLC

     7,266       82,486  

GSK PLC

     206,787       3,686,342  

HSBC Holdings PLC

     787,018       5,682,597  

Intertek Group PLC

     2,576       119,974  

J Sainsbury PLC

     586,301       1,834,429  

JD Sports Fashion PLC

     364,924       567,396  

Johnson Matthey PLC

     24,949       453,553  

Land Securities Group PLC

     11,394       78,980  

Lloyds Banking Group PLC

     2,440,599       1,187,836  

London Stock Exchange Group PLC

     3,964       399,948  

Mondi PLC

     3,685       59,607  

NatWest Group PLC, NVS

     224,404       488,262  

Ocado Group PLC(b)

    11,431       64,872  

Pearson PLC

     11,938       138,191  

Prudential PLC

     109,437       1,144,315  

Reckitt Benckiser Group PLC

     28,355       1,897,146  

RELX PLC

     112,690       3,936,001  

Rio Tinto PLC

     23,663       1,509,710  

Segro PLC

     68,253       593,265  

Shell PLC

     97,104       3,129,354  

Standard Chartered PLC

     100,012       766,825  

Tesco PLC

     378,946       1,243,533  

Unilever PLC

     116,436       5,514,481  
   

 

 

  
      60,023,740  
   

 

 

  

Total Common Stocks — 96.6%
(Cost: $503,734,715)

       449,594,535  
   

 

 

  
Security   Shares     Value  

Preferred Stocks

    
Germany — 0.7%            

Bayerische Motoren Werke AG, Preference Shares, NVS

     11,914     $ 1,013,043  

Dr Ing hc F Porsche AG, Preference Shares, NVS(c)

    1,462       128,137  

Henkel AG & Co. KGaA, Preference Shares, NVS

     1,535       110,728  

Sartorius AG, Preference Shares, NVS

     552       138,353  

Volkswagen AG, Preference Shares, NVS

     16,483       1,748,033  
   

 

 

  
      3,138,294  
   

 

 

  

Total Preferred Stocks — 0.7%
(Cost: $4,781,878)

       3,138,294  
   

 

 

  

Total Long-Term Investments — 97.3%
(Cost: $508,516,593)

       452,732,829  
   

 

 

  

Short-Term Securities

    
Money Market Funds — 2.5%            

BlackRock Cash Funds: Institutional, SL Agency Shares, 5.54%(d)(e)(f)

    2,043,705       2,044,523  

BlackRock Cash Funds: Treasury, SL Agency Shares, 5.33%(d)(e)

    9,840,000       9,840,000  
   

 

 

  

Total Short-Term Securities — 2.5%
(Cost: $11,884,408)

       11,884,523  
   

 

 

  

Total Investments — 99.8%
(Cost: $520,401,001)

       464,617,352  

Other Assets Less Liabilities — 0.2%

       831,551  
   

 

 

  

Net Assets — 100.0%

     $  465,448,903  
   

 

 

  

 

(a) 

All or a portion of this security is on loan.

(b) 

Non-income producing security.

(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) 

Affiliate of the Fund.

(e) 

Annualized 7-day yield as of period end.

(f) 

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, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer    
 Value at
07/31/23 		 
 		    
 Purchases
at Cost 		 
 		    
 Proceeds
from Sale 		 
 		    
 Net Realized
Gain (Loss) 		 
 		    


 Change in
Unrealized
Appreciation
(Depreciation) 		 
 
 
 		    
 Value at
10/31/23 		 
 		    

 Shares
Held at
10/31/23 		 
 
 		     Income      





 Capital

Gain
Distributions
from
Underlying
Funds

 

 
 
 
 
 

BlackRock Cash Funds: Institutional, SL Agency Shares

   $ 198,782     $ 1,845,580 (a)    $ —     $ 46     $ 115     $ 2,044,523       2,043,705     $ 1,095 (b)    $ —  

BlackRock Cash Funds: Treasury, SL Agency Shares

     9,720,000       120,000 (a)       —       —       —       9,840,000       9,840,000       108,105       —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  
        $ 46     $ 115     $ 11,884,523       $ 109,200     $ —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  

 

  (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.

 

 

 

4  

Schedule of Investments  (unaudited) (continued)

October 31, 2023

   

BlackRock World ex U.S. Carbon Transition Readiness ETF

 

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

            

MSCI EAFE Index

      126        12/15/23      $     12,437      $ (641,761 ) 
           

 

 

  

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.

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

    $ 51,177,346      $ 398,417,189      $ —      $ 449,594,535  

Preferred Stocks

      —        3,138,294        —        3,138,294  

Short-Term Securities

            

Money Market Funds

      11,884,523        —        —        11,884,523  
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 63,061,869      $ 401,555,483      $ —      $ 464,617,352  
  

 

 

     

 

 

     

 

 

     

 

 

  
           

Derivative Financial Instruments(a)

           

Liabilities

            

Equity Contracts

    $ (641,761 )     $ —      $ —      $ (641,761 ) 
  

 

 

     

 

 

     

 

 

     

 

 

  

 

  (a) 

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

 

Portfolio Abbreviation

NVS

   

Non-Voting Shares

            

REIT

   

Real Estate Investment Trust

            

 

 

    

   5