Schedule of Investments (unaudited) September 30, 2023 | BlackRock Health Sciences Trust (BME) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
| |||||||
Biotechnology — 25.1% | ||||||||
AbbVie, Inc. | 118,806 | $ | 17,709,222 | |||||
Abcam PLC, ADR(a) | 73,298 | 1,658,734 | ||||||
Affinivax, Inc., (Acquired 08/18/22, Cost: $0)(b)(c) | 6,331 | 83,822 | ||||||
Alkermes PLC(a) | 34,121 | 955,729 | ||||||
Alnylam Pharmaceuticals, Inc.(a) | 16,485 | 2,919,494 | ||||||
Amgen, Inc.(d) | 77,296 | 20,774,073 | ||||||
Argenx SE, ADR(a) | 15,933 | 7,833,141 | ||||||
BeiGene Ltd., ADR(a) | 6,675 | 1,200,632 | ||||||
Biogen, Inc.(a) | 40,606 | 10,436,148 | ||||||
BioMarin Pharmaceutical, Inc.(a) | 45,161 | 3,995,845 | ||||||
Biomea Fusion, Inc.(a)(e) | 9,387 | 129,165 | ||||||
Blueprint Medicines Corp.(a)(e) | 27,582 | 1,385,168 | ||||||
Cerevel Therapeutics Holdings, Inc.(a) | 21,559 | 470,633 | ||||||
CureVac NV(a) | 21,425 | 146,333 | ||||||
Exact Sciences Corp.(a) | 19,351 | 1,320,125 | ||||||
Frequency Therapeutics, Inc.(a) | 28,060 | 10,273 | ||||||
Genesis Therapeutics, Series B, (Acquired 08/10/23, Cost: $292,001)(b)(c) | 57,170 | 292,139 | ||||||
Genmab A/S(a) | 2,927 | 1,036,306 | ||||||
Genmab A/S, ADR(a) | 19,943 | 703,390 | ||||||
Gilead Sciences, Inc. | 191,020 | 14,315,039 | ||||||
Horizon Therapeutics PLC(a) | 7,942 | 918,810 | ||||||
Immuneering Corp., Class A(a)(e) | 14,456 | 111,022 | ||||||
Immunocore Holdings PLC, ADR(a) | 12,497 | 648,594 | ||||||
ImmunoGen, Inc.(a) | 18,545 | 294,309 | ||||||
Incyte Corp.(a) | 27,851 | 1,608,952 | ||||||
Ionis Pharmaceuticals, Inc.(a) | 28,640 | 1,299,110 | ||||||
Kartos Therapeutics, Series C, (Acquired 08/22/23, Cost: $485,124)(b)(c) | 85,817 | 484,866 | ||||||
Karuna Therapeutics, Inc.(a) | 2,627 | 444,199 | ||||||
Legend Biotech Corp., ADR(a) | 32,098 | 2,156,023 | ||||||
Merus NV(a) | 23,470 | 553,423 | ||||||
Mirati Therapeutics, Inc.(a) | 15,747 | 685,939 | ||||||
Moderna, Inc.(a) | 35,676 | 3,684,974 | ||||||
Monte Rosa Therapeutics, Inc.(a) | 28,575 | 136,874 | ||||||
MoonLake Immunotherapeutics, Class A(a)(e) | 18,137 | 1,033,809 | ||||||
Morphic Holding, Inc.(a) | 7,827 | 179,317 | ||||||
Neurocrine Biosciences, Inc.(a) | 9,808 | 1,103,400 | ||||||
Nuvalent, Inc., Class A(a)(e) | 13,886 | 638,339 | ||||||
PMV Pharmaceuticals, Inc.(a) | 17,490 | 107,389 | ||||||
Prime Medicine, Inc.(a) | 22,929 | 218,743 | ||||||
Protagonist Therapeutics, Inc.(a) | 27,836 | 464,305 | ||||||
Prothena Corp. PLC(a) | 6,689 | 322,744 | ||||||
PTC Therapeutics, Inc.(a) | 19,817 | 444,099 | ||||||
Regeneron Pharmaceuticals, Inc.(a) | 9,307 | 7,659,289 | ||||||
REVOLUTION Medicines, Inc.(a) | 27,479 | 760,619 | ||||||
Rhythm Pharmaceuticals, Inc.(a) | 52,156 | 1,195,676 | ||||||
Rocket Pharmaceuticals, Inc.(a)(e) | 18,343 | 375,848 | ||||||
Sarepta Therapeutics, Inc.(a) | 36,858 | 4,467,927 | ||||||
Seagen, Inc.(a) | 23,547 | 4,995,496 | ||||||
Tenaya Therapeutics, Inc.(a) | 25,502 | 65,030 | ||||||
Ultragenyx Pharmaceutical, Inc.(a) | 6,890 | 245,629 | ||||||
Vaxcyte, Inc.(a) | 12,030 | 613,289 | ||||||
Vertex Pharmaceuticals, Inc.(a) | 50,484 | 17,555,306 | ||||||
Viking Therapeutics, Inc.(a) | 17,352 | 192,087 | ||||||
|
| |||||||
143,040,847 | ||||||||
Health Care Equipment & Supplies — 22.0% | ||||||||
Abbott Laboratories(d) | 111,877 | 10,835,287 |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
Alcon, Inc. | 96,464 | $ | 7,433,516 | |||||
Align Technology, Inc.(a) | 8,875 | 2,709,715 | ||||||
Baxter International, Inc. | 114,339 | 4,315,154 | ||||||
Becton Dickinson & Co. | 39,171 | 10,126,879 | ||||||
Boston Scientific Corp.(a) | 448,724 | 23,692,627 | ||||||
Cooper Cos., Inc. | 13,642 | 4,338,292 | ||||||
Dexcom, Inc.(a) | 28,933 | 2,699,449 | ||||||
Edwards Lifesciences Corp.(a) | 31,779 | 2,201,649 | ||||||
Envista Holdings Corp.(a) | 22,246 | 620,219 | ||||||
GE HealthCare Technologies, Inc.(a) | 42,353 | 2,881,698 | ||||||
Glaukos Corp.(a) | 5,329 | 401,007 | ||||||
Hologic, Inc.(a) | 11,604 | 805,318 | ||||||
IDEXX Laboratories, Inc.(a) | 7,516 | 3,286,521 | ||||||
Inspire Medical Systems, Inc.(a) | 5,782 | 1,147,380 | ||||||
Intuitive Surgical, Inc.(a) | 63,275 | 18,494,650 | ||||||
Masimo Corp.(a) | 15,144 | 1,327,826 | ||||||
Medtronic PLC | 108,446 | 8,497,829 | ||||||
Novocure Ltd.(a) | 29,303 | 473,243 | ||||||
Omnicell, Inc.(a) | 5,435 | 244,792 | ||||||
Orchestra BioMed Holdings, Inc.(a) | 18,076 | 157,623 | ||||||
Penumbra, Inc.(a) | 19,885 | 4,810,380 | ||||||
STERIS PLC | 9,997 | 2,193,542 | ||||||
Stryker Corp. | 41,712 | 11,398,638 | ||||||
|
| |||||||
125,093,234 | ||||||||
Health Care Providers & Services — 18.8% | ||||||||
Cencora, Inc. | 62,148 | 11,184,776 | ||||||
Centene Corp.(a) | 53,074 | 3,655,737 | ||||||
Cigna Group | 30,521 | 8,731,142 | ||||||
Elevance Health, Inc.(d) | 20,402 | 8,883,439 | ||||||
Guardant Health, Inc.(a) | 15,095 | 447,416 | ||||||
HCA Healthcare, Inc. | 21,723 | 5,343,423 | ||||||
Humana, Inc. | 15,630 | 7,604,308 | ||||||
McKesson Corp. | 25,848 | 11,240,003 | ||||||
Quest Diagnostics, Inc. | 28,824 | 3,512,493 | ||||||
UnitedHealth Group, Inc.(d) | 91,808 | 46,288,675 | ||||||
|
| |||||||
106,891,412 | ||||||||
Life Sciences Tools & Services — 8.9% | ||||||||
10X Genomics, Inc., Class A(a) | 10,133 | 417,986 | ||||||
Agilent Technologies, Inc. | 23,561 | 2,634,591 | ||||||
Avantor, Inc.(a) | 88,349 | 1,862,397 | ||||||
Bio-Techne Corp. | 10,888 | 741,146 | ||||||
Danaher Corp. | 58,051 | 14,402,453 | ||||||
Illumina, Inc.(a) | 8,195 | 1,125,010 | ||||||
IQVIA Holdings, Inc.(a) | 17,083 | 3,361,080 | ||||||
Mettler-Toledo International, Inc.(a) | 890 | 986,182 | ||||||
Nautilus Biotechnology, Inc.(a)(e) | 16,560 | 52,330 | ||||||
QIAGEN NV(a) | 33,183 | 1,343,912 | ||||||
Rapid Micro Biosystems, Inc., Class A(a) | 20,561 | 22,206 | ||||||
Repligen Corp.(a) | 8,125 | 1,291,956 | ||||||
Thermo Fisher Scientific, Inc. | 32,829 | 16,617,055 | ||||||
West Pharmaceutical Services, Inc. | 15,807 | 5,930,944 | ||||||
|
| |||||||
50,789,248 | ||||||||
Pharmaceuticals — 20.9% | ||||||||
Adarx Pharamaceuticals, Series C, (Acquired 08/02/23, Cost: $440,003)(b)(c) | 52,885 | 440,003 | ||||||
AstraZeneca PLC | 24,864 | 3,353,766 | ||||||
Bristol-Myers Squibb Co. | 42,427 | 2,462,463 | ||||||
Catalent, Inc.(a) | 20,853 | 949,437 | ||||||
Daiichi Sankyo Co. Ltd. | 34,800 | 952,730 |
1 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Health Sciences Trust (BME) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Pharmaceuticals (continued) |
| |||||||
Elanco Animal Health, Inc.(a) | 97,264 | $ | 1,093,247 | |||||
Eli Lilly & Co. | 93,857 | 50,413,411 | ||||||
Johnson & Johnson(d) | 70,368 | 10,959,816 | ||||||
Merck & Co., Inc.(d) | 220,252 | 22,674,944 | ||||||
Novo Nordisk A/S, Class B | 65,899 | 6,000,182 | ||||||
Pfizer, Inc.(d) | 285,801 | 9,480,019 | ||||||
Sanofi | 26,788 | 2,876,368 | ||||||
Structure Therapeutics, Inc.(a) | 13,208 | 665,947 | ||||||
Structure Therapeutics, Inc. | 34,983 | 436,938 | ||||||
Zoetis, Inc., Class A | 35,344 | 6,149,149 | ||||||
|
| |||||||
118,908,420 | ||||||||
|
| |||||||
Total Common Stocks — 95.7% |
| 544,723,161 | ||||||
|
| |||||||
Benefical Interest (000) | ||||||||
Other Interests | ||||||||
Health Care Providers & Services — 0.0% | ||||||||
Afferent Pharmaceuticals, Inc.(b)(c) | $ | 190 | 150,226 | |||||
|
| |||||||
Total Other Interests — 0.0% |
| 150,226 | ||||||
|
| |||||||
Shares | ||||||||
Preferred Securities | ||||||||
Preferred Stocks — 0.6%(b)(c) | ||||||||
Biotechnology — 0.1% | ||||||||
Cellarity, Inc., Series B, (Acquired 01/15/21, Cost: $265,002) | 44,167 | 167,834 | ||||||
Goldfinch Bio, Inc., Series B, (Acquired 06/26/20, Cost: $224,200) | 190,000 | 64,600 | ||||||
Laronde, Inc., Series B, (Acquired 07/28/21, Cost: $590,800) | 21,100 | 307,849 | ||||||
Neurogene, Inc., Series B, (Acquired 12/14/20, Cost: $260,568)(a) | 106,790 | 152,710 | ||||||
|
| |||||||
692,993 | ||||||||
Health Care Equipment & Supplies — 0.3% | ||||||||
Exo Imaging, Inc., Series C, (Acquired 06/24/21, Cost: $595,999) | 101,741 | 246,213 | ||||||
Nucleix Ltd., Series AA, (Acquired 03/25/21, Cost: $1,070,001) | 367,395 | 1,149,946 | ||||||
Swift Health Systems, Inc., Series D, (Acquired 08/27/21, Cost: $286,998) | 92,580 | 113,874 | ||||||
|
| |||||||
1,510,033 | ||||||||
Health Care Providers & Services — 0.0% | ||||||||
Quanta Dialysis Technologies Ltd., Series D, (Acquired 06/18/21, Cost: $515,759) | 4,243,029 | 274,377 | ||||||
|
| |||||||
Health Care Technology — 0.1% | ||||||||
Carbon Health Technologies, Inc., Series D2, (Acquired 02/02/23, Cost: $907,000) | 89,892 | 895,324 | ||||||
|
|
Security | Shares | Value | ||||||
Pharmaceuticals — 0.1% | ||||||||
Insitro, Inc., Series C, (Acquired 03/10/21, Cost: | 30,616 | $ | 372,903 | |||||
|
| |||||||
3,745,630 | ||||||||
|
| |||||||
Total Preferred Securities — 0.6% |
| 3,745,630 | ||||||
|
| |||||||
Rights |
| |||||||
Health Care Equipment & Supplies — 0.0% | ||||||||
Abiomed, Inc., CVR(a)(b) | 14,359 | 40,062 | ||||||
|
| |||||||
Total Rights — 0.0% |
| 40,062 | ||||||
|
| |||||||
Warrants |
| |||||||
Health Care Providers & Services — 0.0% | ||||||||
CareMax, Inc., (Issued/Exercisable 09/15/20, 1 Share for 1 Warrant, Expires 08/06/26, Strike Price | 4,201 | 840 | ||||||
|
| |||||||
Pharmaceuticals — 0.0% | ||||||||
Nuvation Bio, Inc., (Issued/Exercisable 08/17/20, 1 Share for 1 Warrant, Expires 07/07/27, Strike Price | 4,050 | 405 | ||||||
|
| |||||||
Total Warrants — 0.0% |
| 1,245 | ||||||
|
| |||||||
Total Long-Term Investments — 96.3% |
| 548,660,324 | ||||||
|
| |||||||
Short-Term Securities |
| |||||||
Money Market Funds — 4.3% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 5.23%(f)(g) | 23,332,546 | 23,332,546 | ||||||
SL Liquidity Series, LLC, Money Market Series, | 1,120,174 | 1,120,510 | ||||||
|
| |||||||
Total Short-Term Securities — 4.3% |
| 24,453,056 | ||||||
|
| |||||||
Total Investments Before Options Written — 100.6% |
| 573,113,380 | ||||||
|
| |||||||
Options Written — (0.5)% |
| (3,006,156 | ) | |||||
|
| |||||||
Total Investments, Net of Options Written — 100.1% |
| 570,107,224 | ||||||
Liabilities in Excess of Other Assets — (0.1)% |
| (754,641 | ) | |||||
|
| |||||||
Net Assets — 100.0% |
| $ | 569,352,583 | |||||
|
|
(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 $5,196,686, representing 0.9% of its net assets as of period end, and an original cost of $6,493,455. |
(d) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(e) | All or a portion of this security is on loan. |
(f) | Affiliate of the Trust. |
(g) | Annualized 7-day yield as of period end. |
(h) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
S C H E D U L E O F I N V E S T M E N T S | 2 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Health Sciences Trust (BME) |
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.
Affiliates
Investments in issuers considered to be affiliate(s) of the Trust during the period ended September 30, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 12/31/22 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 09/30/23 | Shares Held at 09/30/23 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 23,195,315 | $ | 137,231 | (a) | $ | — | $ | — | $ | — | $ | 23,332,546 | 23,332,546 | $ | 835,664 | $ | — | ||||||||||||||||||
SL Liquidity Series, LLC, Money Market Series | 675,980 | 443,881 | (a) | — | 868 | (219 | ) | 1,120,510 | 1,120,174 | 24,744 | (b) | — | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | 868 | $ | (219 | ) | $ | 24,453,056 | $ | 860,408 | $ | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
(b) | All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
Derivative Financial Instruments Outstanding as of Period End
Exchange-Traded Options Written
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call | ||||||||||||||||||||||||
Cencora, Inc. | 55 | 10/02/23 | USD | 191.50 | USD | 990 | $ | (2 | ) | |||||||||||||||
Avantor, Inc. | 130 | 10/03/23 | USD | 22.50 | USD | 274 | (172 | ) | ||||||||||||||||
Abbott Laboratories | 170 | 10/06/23 | USD | 107.00 | USD | 1,646 | (8,840 | ) | ||||||||||||||||
AbbVie, Inc. | 120 | 10/06/23 | USD | 149.00 | USD | 1,789 | (20,880 | ) | ||||||||||||||||
Align Technology, Inc. | 8 | 10/06/23 | USD | 380.00 | USD | 244 | (2,080 | ) | ||||||||||||||||
Baxter International, Inc. | 97 | 10/06/23 | USD | 43.00 | USD | 366 | (485 | ) | ||||||||||||||||
Biogen, Inc. | 66 | 10/06/23 | USD | 280.00 | USD | 1,696 | (23,760 | ) | ||||||||||||||||
Bristol-Myers Squibb Co. | 74 | 10/06/23 | USD | 64.00 | USD | 429 | (296 | ) | ||||||||||||||||
Centene Corp. | 56 | 10/06/23 | USD | 67.00 | USD | 386 | (12,460 | ) | ||||||||||||||||
Cigna Group | 14 | 10/06/23 | USD | 290.00 | USD | 400 | (2,555 | ) | ||||||||||||||||
GE HealthCare Technologies, Inc. | 160 | 10/06/23 | USD | 72.00 | USD | 1,089 | (1,200 | ) | ||||||||||||||||
Humana, Inc. | 11 | 10/06/23 | USD | 470.00 | USD | 535 | (20,350 | ) | ||||||||||||||||
Illumina, Inc. | 20 | 10/06/23 | USD | 170.00 | USD | 275 | (8,600 | ) | ||||||||||||||||
Intuitive Surgical, Inc. | 48 | 10/06/23 | USD | 325.00 | USD | 1,403 | (960 | ) | ||||||||||||||||
Johnson & Johnson | 37 | 10/06/23 | USD | 170.00 | USD | 576 | (74 | ) | ||||||||||||||||
McKesson Corp. | 41 | 10/06/23 | USD | 435.00 | USD | 1,783 | (19,475 | ) | ||||||||||||||||
Medtronic PLC | 122 | 10/06/23 | USD | 84.00 | USD | 956 | (976 | ) | ||||||||||||||||
Merck & Co., Inc. | 223 | 10/06/23 | USD | 112.00 | USD | 2,296 | (669 | ) | ||||||||||||||||
UnitedHealth Group, Inc. | 143 | 10/06/23 | USD | 505.00 | USD | 7,210 | (70,070 | ) | ||||||||||||||||
Baxter International, Inc. | 97 | 10/13/23 | USD | 42.88 | USD | 366 | (253 | ) | ||||||||||||||||
Danaher Corp. | 90 | 10/13/23 | USD | 265.00 | USD | 2,233 | (4,725 | ) | ||||||||||||||||
Eli Lilly & Co. | 78 | 10/13/23 | USD | 560.00 | USD | 4,190 | (23,400 | ) | ||||||||||||||||
Gilead Sciences, Inc. | 346 | 10/13/23 | USD | 76.00 | USD | 2,593 | (24,739 | ) | ||||||||||||||||
Intuitive Surgical, Inc. | 58 | 10/13/23 | USD | 305.00 | USD | 1,695 | (11,310 | ) | ||||||||||||||||
Johnson & Johnson | 84 | 10/13/23 | USD | 165.00 | USD | 1,308 | (924 | ) | ||||||||||||||||
Moderna, Inc. | 29 | 10/13/23 | USD | 116.00 | USD | 300 | (1,479 | ) | ||||||||||||||||
Thermo Fisher Scientific, Inc. | 73 | 10/13/23 | USD | 560.00 | USD | 3,695 | (35,040 | ) | ||||||||||||||||
Vertex Pharmaceuticals, Inc. | 40 | 10/13/23 | USD | 360.00 | USD | 1,391 | (8,100 | ) | ||||||||||||||||
10X Genomics, Inc., Class A | 9 | 10/20/23 | USD | 50.00 | USD | 37 | (293 | ) | ||||||||||||||||
AbbVie, Inc. | 101 | 10/20/23 | USD | 150.00 | USD | 1,506 | (19,998 | ) | ||||||||||||||||
Alcon, Inc. | 143 | 10/20/23 | USD | 82.50 | USD | 1,102 | (7,865 | ) | ||||||||||||||||
Align Technology, Inc. | 10 | 10/20/23 | USD | 335.00 | USD | 305 | (1,975 | ) | ||||||||||||||||
Alkermes PLC | 59 | 10/20/23 | USD | 29.00 | USD | 165 | (2,803 | ) | ||||||||||||||||
Alkermes PLC | 14 | 10/20/23 | USD | 31.00 | USD | 39 | (1,470 | ) | ||||||||||||||||
Alnylam Pharmaceuticals, Inc. | 39 | 10/20/23 | USD | 210.00 | USD | 691 | (1,853 | ) | ||||||||||||||||
Amgen, Inc. | 127 | 10/20/23 | USD | 270.00 | USD | 3,413 | (61,912 | ) |
3 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Health Sciences Trust (BME) |
Exchange-Traded Options Written (continued)
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Argenx SE, ADR | 29 | 10/20/23 | USD | 540.00 | USD | 1,426 | $ | (11,672 | ) | |||||||||||||||
Avantor, Inc. | 130 | 10/20/23 | USD | 22.50 | USD | 274 | (3,250 | ) | ||||||||||||||||
Baxter International, Inc. | 8 | 10/20/23 | USD | 40.00 | USD | 30 | (180 | ) | ||||||||||||||||
Becton Dickinson & Co. | 100 | 10/20/23 | USD | 275.00 | USD | 2,585 | (4,250 | ) | ||||||||||||||||
BeiGene Ltd., ADR | 19 | 10/20/23 | USD | 220.00 | USD | 342 | (1,188 | ) | ||||||||||||||||
Biogen, Inc. | 65 | 10/20/23 | USD | 270.00 | USD | 1,671 | (13,487 | ) | ||||||||||||||||
BioMarin Pharmaceutical, Inc. | 62 | 10/20/23 | USD | 95.00 | USD | 549 | (4,805 | ) | ||||||||||||||||
Bio-Techne Corp. | 21 | 10/20/23 | USD | 85.00 | USD | 143 | (420 | ) | ||||||||||||||||
Blueprint Medicines Corp. | 44 | 10/20/23 | USD | 60.00 | USD | 221 | (770 | ) | ||||||||||||||||
Boston Scientific Corp. | 952 | 10/20/23 | USD | 52.58 | USD | 5,027 | (116,913 | ) | ||||||||||||||||
Catalent, Inc. | 41 | 10/20/23 | USD | 50.00 | USD | 187 | (1,435 | ) | ||||||||||||||||
Cencora, Inc. | 97 | 10/20/23 | USD | 191.71 | USD | 1,746 | (5,200 | ) | ||||||||||||||||
Centene Corp. | 62 | 10/20/23 | USD | 65.00 | USD | 427 | (30,690 | ) | ||||||||||||||||
Cerevel Therapeutics Holdings, Inc. | 49 | 10/20/23 | USD | 22.50 | USD | 107 | (2,450 | ) | ||||||||||||||||
Cigna Group | 25 | 10/20/23 | USD | 295.00 | USD | 715 | (7,125 | ) | ||||||||||||||||
Cooper Cos., Inc. | 25 | 10/20/23 | USD | 390.00 | USD | 795 | (3,125 | ) | ||||||||||||||||
Dexcom, Inc. | 109 | 10/20/23 | USD | 115.00 | USD | 1,017 | (1,363 | ) | ||||||||||||||||
Edwards Lifesciences Corp. | 50 | 10/20/23 | USD | 82.50 | USD | 346 | (875 | ) | ||||||||||||||||
Elanco Animal Health, Inc. | 185 | 10/20/23 | USD | 13.00 | USD | 208 | (1,388 | ) | ||||||||||||||||
Eli Lilly & Co. | 141 | 10/20/23 | USD | 540.00 | USD | 7,574 | (173,077 | ) | ||||||||||||||||
Envista Holdings Corp. | 84 | 10/20/23 | USD | 30.00 | USD | 234 | (1,890 | ) | ||||||||||||||||
Exact Sciences Corp. | 36 | 10/20/23 | USD | 92.50 | USD | 246 | (180 | ) | ||||||||||||||||
Exact Sciences Corp. | 37 | 10/20/23 | USD | 85.00 | USD | 252 | (1,480 | ) | ||||||||||||||||
Gilead Sciences, Inc. | 226 | 10/20/23 | USD | 76.00 | USD | 1,694 | (22,939 | ) | ||||||||||||||||
Glaukos Corp. | 9 | 10/20/23 | USD | 77.50 | USD | 68 | (1,575 | ) | ||||||||||||||||
Guardant Health, Inc. | 57 | 10/20/23 | USD | 40.00 | USD | 169 | (1,140 | ) | ||||||||||||||||
HCA Healthcare, Inc. | 32 | 10/20/23 | USD | 275.00 | USD | 787 | (1,280 | ) | ||||||||||||||||
Hologic, Inc. | 21 | 10/20/23 | USD | 75.00 | USD | 146 | (998 | ) | ||||||||||||||||
Humana, Inc. | 14 | 10/20/23 | USD | 485.00 | USD | 681 | (18,340 | ) | ||||||||||||||||
IDEXX Laboratories, Inc. | 28 | 10/20/23 | USD | 530.00 | USD | 1,224 | (7,280 | ) | ||||||||||||||||
Immunocore Holdings PLC, ADR | 29 | 10/20/23 | USD | 65.00 | USD | 151 | (725 | ) | ||||||||||||||||
Incyte Corp. | 66 | 10/20/23 | USD | 65.00 | USD | 381 | (14,190 | ) | ||||||||||||||||
Inspire Medical Systems, Inc. | 21 | 10/20/23 | USD | 240.00 | USD | 417 | (1,365 | ) | ||||||||||||||||
Intuitive Surgical, Inc. | 75 | 10/20/23 | USD | 320.00 | USD | 2,192 | (19,687 | ) | ||||||||||||||||
Ionis Pharmaceuticals, Inc. | 29 | 10/20/23 | USD | 42.50 | USD | 132 | (9,715 | ) | ||||||||||||||||
IQVIA Holdings, Inc. | 76 | 10/20/23 | USD | 220.00 | USD | 1,495 | (2,850 | ) | ||||||||||||||||
Karuna Therapeutics, Inc. | 9 | 10/20/23 | USD | 195.00 | USD | 152 | (855 | ) | ||||||||||||||||
Legend Biotech Corp., ADR | 67 | 10/20/23 | USD | 75.00 | USD | 450 | (7,537 | ) | ||||||||||||||||
Masimo Corp. | 41 | 10/20/23 | USD | 120.00 | USD | 359 | (3,075 | ) | ||||||||||||||||
McKesson Corp. | 33 | 10/20/23 | USD | 420.00 | USD | 1,435 | (62,865 | ) | ||||||||||||||||
Medtronic PLC | 129 | 10/20/23 | USD | 82.50 | USD | 1,011 | (6,321 | ) | ||||||||||||||||
Merck & Co., Inc. | 105 | 10/20/23 | USD | 110.00 | USD | 1,081 | (1,785 | ) | ||||||||||||||||
Merck & Co., Inc. | 194 | 10/20/23 | USD | 109.00 | USD | 1,997 | (5,141 | ) | ||||||||||||||||
Mettler-Toledo International, Inc. | 3 | 10/20/23 | USD | 1,280.00 | USD | 332 | (705 | ) | ||||||||||||||||
Moderna, Inc. | 31 | 10/20/23 | USD | 106.00 | USD | 320 | (10,772 | ) | ||||||||||||||||
MoonLake Immunotherapeutics, Class A | 34 | 10/20/23 | USD | 70.00 | USD | 194 | (3,485 | ) | ||||||||||||||||
Morphic Holding, Inc. | 19 | 10/20/23 | USD | 60.00 | USD | 44 | (570 | ) | ||||||||||||||||
Neurocrine Biosciences, Inc. | 31 | 10/20/23 | USD | 110.00 | USD | 349 | (13,795 | ) | ||||||||||||||||
Nuvalent, Inc., Class A | 26 | 10/20/23 | USD | 60.00 | USD | 120 | (7,085 | ) | ||||||||||||||||
Nuvalent, Inc., Class A | 26 | 10/20/23 | USD | 65.00 | USD | 120 | (4,355 | ) | ||||||||||||||||
Omnicell, Inc. | 16 | 10/20/23 | USD | 60.00 | USD | 72 | (400 | ) | ||||||||||||||||
Penumbra, Inc. | 37 | 10/20/23 | USD | 270.00 | USD | 895 | (4,532 | ) | ||||||||||||||||
Pfizer, Inc. | 406 | 10/20/23 | USD | 37.50 | USD | 1,347 | (1,015 | ) | ||||||||||||||||
Prothena Corp. PLC | 25 | 10/20/23 | USD | 65.00 | USD | 121 | (3,750 | ) | ||||||||||||||||
PTC Therapeutics, Inc. | 75 | 10/20/23 | USD | 42.00 | USD | 168 | (36,000 | ) | ||||||||||||||||
Quest Diagnostics, Inc. | 77 | 10/20/23 | USD | 130.00 | USD | 938 | (1,155 | ) | ||||||||||||||||
Regeneron Pharmaceuticals, Inc. | 10 | 10/20/23 | USD | 845.00 | USD | 823 | (9,600 | ) | ||||||||||||||||
REVOLUTION Medicines, Inc. | 70 | 10/20/23 | USD | 35.00 | USD | 194 | (35,000 | ) | ||||||||||||||||
Rhythm Pharmaceuticals, Inc. | 99 | 10/20/23 | USD | 25.75 | USD | 227 | (4,881 | ) | ||||||||||||||||
Rocket Pharmaceuticals, Inc. | 37 | 10/20/23 | USD | 17.50 | USD | 76 | (12,025 | ) | ||||||||||||||||
Seagen, Inc. | 45 | 10/20/23 | USD | 210.00 | USD | 955 | (19,575 | ) | ||||||||||||||||
STERIS PLC | 19 | 10/20/23 | USD | 230.00 | USD | 417 | (4,323 | ) |
S C H E D U L E O F I N V E S T M E N T S | 4 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Health Sciences Trust (BME) |
Exchange-Traded Options Written (continued)
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Stryker Corp. | 4 | 10/20/23 | USD | 290.00 | USD | 109 | $ | (450 | ) | |||||||||||||||
Stryker Corp. | 106 | 10/20/23 | USD | 300.00 | USD | 2,897 | (6,625 | ) | ||||||||||||||||
Ultragenyx Pharmaceutical, Inc. | 14 | 10/20/23 | USD | 40.00 | USD | 50 | (2,030 | ) | ||||||||||||||||
Vaxcyte, Inc. | 22 | 10/20/23 | USD | 55.00 | USD | 112 | (3,355 | ) | ||||||||||||||||
Vertex Pharmaceuticals, Inc. | 70 | 10/20/23 | USD | 360.00 | USD | 2,434 | (19,950 | ) | ||||||||||||||||
Viking Therapeutics, Inc. | 65 | 10/20/23 | USD | 18.00 | USD | 72 | (4,875 | ) | ||||||||||||||||
West Pharmaceutical Services, Inc. | 12 | 10/20/23 | USD | 390.00 | USD | 450 | (4,890 | ) | ||||||||||||||||
Zoetis, Inc. | 134 | 10/20/23 | USD | 185.00 | USD | 2,331 | (7,370 | ) | ||||||||||||||||
Abbott Laboratories | 255 | 10/27/23 | USD | 104.00 | USD | 2,470 | (14,152 | ) | ||||||||||||||||
Align Technology, Inc. | 7 | 10/27/23 | USD | 365.00 | USD | 214 | (1,698 | ) | ||||||||||||||||
Baxter International, Inc. | 55 | 10/27/23 | USD | 41.00 | USD | 208 | (1,238 | ) | ||||||||||||||||
Boston Scientific Corp. | 767 | 10/27/23 | USD | 56.00 | USD | 4,050 | (24,927 | ) | ||||||||||||||||
Bristol-Myers Squibb Co. | 87 | 10/27/23 | USD | 60.00 | USD | 505 | (4,394 | ) | ||||||||||||||||
Cigna Group | 38 | 10/27/23 | USD | 295.00 | USD | 1,087 | (14,250 | ) | ||||||||||||||||
Danaher Corp. | 63 | 10/27/23 | USD | 265.00 | USD | 1,563 | (13,545 | ) | ||||||||||||||||
Gilead Sciences, Inc. | 141 | 10/27/23 | USD | 77.00 | USD | 1,057 | (15,087 | ) | ||||||||||||||||
Humana, Inc. | 31 | 10/27/23 | USD | 480.00 | USD | 1,508 | (54,715 | ) | ||||||||||||||||
Illumina, Inc. | 11 | 10/27/23 | USD | 170.00 | USD | 151 | (550 | ) | ||||||||||||||||
Johnson & Johnson | 146 | 10/27/23 | USD | 165.00 | USD | 2,274 | (8,030 | ) | ||||||||||||||||
McKesson Corp. | 22 | 10/27/23 | USD | 440.00 | USD | 957 | (16,500 | ) | ||||||||||||||||
Medtronic PLC | 71 | 10/27/23 | USD | 83.00 | USD | 556 | (1,988 | ) | ||||||||||||||||
Merck & Co., Inc. | 300 | 10/27/23 | USD | 109.00 | USD | 3,089 | (19,350 | ) | ||||||||||||||||
Moderna, Inc. | 75 | 10/27/23 | USD | 114.00 | USD | 775 | (14,887 | ) | ||||||||||||||||
Pfizer, Inc. | 340 | 10/27/23 | USD | 35.00 | USD | 1,128 | (9,180 | ) | ||||||||||||||||
Thermo Fisher Scientific, Inc. | 55 | 10/27/23 | USD | 530.00 | USD | 2,784 | (32,450 | ) | ||||||||||||||||
UnitedHealth Group, Inc. | 205 | 10/27/23 | USD | 490.00 | USD | 10,336 | (472,012 | ) | ||||||||||||||||
Alcon, Inc. | 136 | 11/02/23 | USD | 83.00 | USD | 1,048 | (6,754 | ) | ||||||||||||||||
AbbVie, Inc. | 112 | 11/03/23 | USD | 155.00 | USD | 1,669 | (17,808 | ) | ||||||||||||||||
Baxter International, Inc. | 177 | 11/03/23 | USD | 39.00 | USD | 668 | (20,355 | ) | ||||||||||||||||
Biogen, Inc. | 23 | 11/03/23 | USD | 270.00 | USD | 591 | (11,615 | ) | ||||||||||||||||
Cigna Group | 38 | 11/03/23 | USD | 300.00 | USD | 1,087 | (15,770 | ) | ||||||||||||||||
Danaher Corp. | 63 | 11/03/23 | USD | 260.00 | USD | 1,563 | (29,925 | ) | ||||||||||||||||
Eli Lilly & Co. | 141 | 11/03/23 | USD | 555.00 | USD | 7,574 | (184,005 | ) | ||||||||||||||||
Intuitive Surgical, Inc. | 59 | 11/03/23 | USD | 310.00 | USD | 1,725 | (38,350 | ) | ||||||||||||||||
Medtronic PLC | 61 | 11/03/23 | USD | 84.37 | USD | 478 | (1,921 | ) | ||||||||||||||||
Align Technology, Inc. | 8 | 11/10/23 | USD | 340.00 | USD | 244 | (6,840 | ) | ||||||||||||||||
Amgen, Inc. | 166 | 11/10/23 | USD | 280.00 | USD | 4,461 | (66,400 | ) | ||||||||||||||||
Regeneron Pharmaceuticals, Inc. | 25 | 11/10/23 | USD | 860.00 | USD | 2,057 | (41,750 | ) | ||||||||||||||||
10X Genomics, Inc., Class A | 20 | 11/17/23 | USD | 60.00 | USD | 83 | (3,000 | ) | ||||||||||||||||
10X Genomics, Inc., Class A | 9 | 11/17/23 | USD | 55.00 | USD | 37 | (293 | ) | ||||||||||||||||
AbbVie, Inc. | 118 | 11/17/23 | USD | 160.00 | USD | 1,759 | (11,800 | ) | ||||||||||||||||
Agilent Technologies, Inc. | 90 | 11/17/23 | USD | 120.00 | USD | 1,006 | (13,275 | ) | ||||||||||||||||
Alcon, Inc. | 87 | 11/17/23 | USD | 85.00 | USD | 670 | (23,272 | ) | ||||||||||||||||
Alkermes PLC | 19 | 11/17/23 | USD | 33.00 | USD | 53 | (1,425 | ) | ||||||||||||||||
Alkermes PLC | 15 | 11/17/23 | USD | 32.00 | USD | 42 | (750 | ) | ||||||||||||||||
Argenx SE, ADR | 29 | 11/17/23 | USD | 540.00 | USD | 1,426 | (42,775 | ) | ||||||||||||||||
Avantor, Inc. | 75 | 11/17/23 | USD | 23.50 | USD | 158 | (2,928 | ) | ||||||||||||||||
Becton Dickinson & Co. | 48 | 11/17/23 | USD | 270.00 | USD | 1,241 | (18,000 | ) | ||||||||||||||||
BeiGene Ltd., ADR | 6 | 11/17/23 | USD | 220.00 | USD | 108 | (2,205 | ) | ||||||||||||||||
BioMarin Pharmaceutical, Inc. | 40 | 11/17/23 | USD | 90.00 | USD | 354 | (16,400 | ) | ||||||||||||||||
Biomea Fusion, Inc. | 35 | 11/17/23 | USD | 17.50 | USD | 48 | (4,200 | ) | ||||||||||||||||
Bio-Techne Corp. | 20 | 11/17/23 | USD | 77.00 | USD | 136 | (2,782 | ) | ||||||||||||||||
Blueprint Medicines Corp. | 60 | 11/17/23 | USD | 55.00 | USD | 301 | (9,900 | ) | ||||||||||||||||
Cencora, Inc. | 23 | 11/17/23 | USD | 185.00 | USD | 414 | (8,625 | ) | ||||||||||||||||
Cerevel Therapeutics Holdings, Inc. | 32 | 11/17/23 | USD | 25.00 | USD | 70 | (1,280 | ) | ||||||||||||||||
Cooper Cos., Inc. | 26 | 11/17/23 | USD | 360.00 | USD | 827 | (2,730 | ) | ||||||||||||||||
Edwards Lifesciences Corp. | 95 | 11/17/23 | USD | 77.50 | USD | 658 | (9,500 | ) | ||||||||||||||||
Elevance Health, Inc. | 76 | 11/17/23 | USD | 460.00 | USD | 3,309 | (61,560 | ) | ||||||||||||||||
HCA Healthcare, Inc. | 50 | 11/17/23 | USD | 290.00 | USD | 1,230 | (3,500 | ) | ||||||||||||||||
Hologic, Inc. | 23 | 11/17/23 | USD | 75.00 | USD | 160 | (1,783 | ) | ||||||||||||||||
Immunocore Holdings PLC, ADR | 18 | 11/17/23 | USD | 60.00 | USD | 93 | (3,420 | ) | ||||||||||||||||
Incyte Corp. | 63 | 11/17/23 | USD | 65.00 | USD | 364 | (2,048 | ) |
5 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Health Sciences Trust (BME) |
Exchange-Traded Options Written (continued)
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Ionis Pharmaceuticals, Inc. | 79 | 11/17/23 | USD | 43.62 | USD | 358 | $ | (26,893 | ) | |||||||||||||||
Medtronic PLC | 29 | 11/17/23 | USD | 85.00 | USD | 227 | (1,291 | ) | ||||||||||||||||
MoonLake Immunotherapeutics, Class A | 34 | 11/17/23 | USD | 70.00 | USD | 194 | (12,750 | ) | ||||||||||||||||
Morphic Holding, Inc. | 30 | 11/17/23 | USD | 60.00 | USD | 69 | (4,500 | ) | ||||||||||||||||
Neurocrine Biosciences, Inc. | 6 | 11/17/23 | USD | 120.00 | USD | 68 | (1,215 | ) | ||||||||||||||||
Omnicell, Inc. | 15 | 11/17/23 | USD | 60.00 | USD | 68 | (638 | ) | ||||||||||||||||
Penumbra, Inc. | 30 | 11/17/23 | USD | 308.00 | USD | 726 | (7,817 | ) | ||||||||||||||||
Pfizer, Inc. | 340 | 11/17/23 | USD | 34.00 | USD | 1,128 | (29,240 | ) | ||||||||||||||||
Quest Diagnostics, Inc. | 32 | 11/17/23 | USD | 135.00 | USD | 390 | (960 | ) | ||||||||||||||||
Repligen Corp. | 30 | 11/17/23 | USD | 180.00 | USD | 477 | (10,350 | ) | ||||||||||||||||
REVOLUTION Medicines, Inc. | 34 | 11/17/23 | USD | 30.00 | USD | 94 | (14,790 | ) | ||||||||||||||||
Rhythm Pharmaceuticals, Inc. | 98 | 11/17/23 | USD | 25.60 | USD | 225 | (11,801 | ) | ||||||||||||||||
Rocket Pharmaceuticals, Inc. | 32 | 11/17/23 | USD | 30.00 | USD | 66 | (640 | ) | ||||||||||||||||
Seagen, Inc. | 44 | 11/17/23 | USD | 210.00 | USD | 933 | (37,840 | ) | ||||||||||||||||
STERIS PLC | 18 | 11/17/23 | USD | 240.00 | USD | 395 | (5,940 | ) | ||||||||||||||||
Stryker Corp. | 105 | 11/17/23 | USD | 310.00 | USD | 2,869 | (12,600 | ) | ||||||||||||||||
Ultragenyx Pharmaceutical, Inc. | 12 | 11/17/23 | USD | 45.00 | USD | 43 | (1,500 | ) | ||||||||||||||||
Vaxcyte, Inc. | 23 | 11/17/23 | USD | 55.00 | USD | 117 | (5,577 | ) | ||||||||||||||||
Vertex Pharmaceuticals, Inc. | 77 | 11/17/23 | USD | 370.00 | USD | 2,678 | (39,655 | ) | ||||||||||||||||
West Pharmaceutical Services, Inc. | 48 | 11/17/23 | USD | 410.00 | USD | 1,801 | (25,440 | ) | ||||||||||||||||
Cencora, Inc. | 52 | 12/15/23 | USD | 195.00 | USD | 936 | (9,750 | ) | ||||||||||||||||
|
| |||||||||||||||||||||||
$ | (2,870,571 | ) | ||||||||||||||||||||||
|
|
OTC Options Written
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
Alkermes PLC | Goldman Sachs International | 2,200 | 10/02/23 | USD | 29.71 | USD | 62 | $ | (17 | ) | ||||||||||||||||||||
Daiichi Sankyo Co. Ltd. | Citibank N.A. | 13,200 | 10/03/23 | JPY | 4,550.03 | JPY | 54,005 | (76 | ) | |||||||||||||||||||||
Abcam PLC, ADR | Barclays Bank PLC | 5,900 | 10/05/23 | USD | 22.98 | USD | 134 | (2,550 | ) | |||||||||||||||||||||
Genmab A/S, ADR | Morgan Stanley & Co. International PLC | 7,500 | 10/17/23 | USD | 38.68 | USD | 265 | (2,332 | ) | |||||||||||||||||||||
AstraZeneca PLC | Goldman Sachs International | 6,700 | 10/19/23 | GBP | 109.24 | GBP | 741 | (28,592 | ) | |||||||||||||||||||||
Novo Nordisk A/S, Class B | Goldman Sachs International | 20,800 | 10/19/23 | DKK | 683.61 | DKK | 13,360 | (13,301 | ) | |||||||||||||||||||||
Sanofi | Goldman Sachs International | 4,700 | 10/19/23 | EUR | 101.19 | EUR | 477 | (9,563 | ) | |||||||||||||||||||||
Elanco Animal Health, Inc. | Goldman Sachs International | 9,200 | 11/01/23 | USD | 12.97 | USD | 103 | (1,482 | ) | |||||||||||||||||||||
Masimo Corp. | UBS AG | 1,600 | 11/02/23 | USD | 110.24 | USD | 140 | (1,795 | ) | |||||||||||||||||||||
Legend Biotech Corp., ADR | UBS AG | 5,400 | 11/06/23 | USD | 69.81 | USD | 363 | (19,302 | ) | |||||||||||||||||||||
Novo Nordisk A/S, Class B | Goldman Sachs International | 1,900 | 11/08/23 | DKK | 666.32 | DKK | 1,220 | (4,674 | ) | |||||||||||||||||||||
AstraZeneca PLC | Barclays Bank PLC | 2,800 | 11/09/23 | GBP | 112.26 | GBP | 310 | (10,184 | ) | |||||||||||||||||||||
QIAGEN NV | Citibank N.A. | 12,600 | 11/13/23 | USD | 42.94 | USD | 510 | (12,710 | ) | |||||||||||||||||||||
Novo Nordisk A/S, Class B | Morgan Stanley & Co. International PLC | 1,900 | 11/14/23 | DKK | 676.10 | DKK | 1,220 | (4,524 | ) | |||||||||||||||||||||
Genmab A/S, ADR | Goldman Sachs International | 1,100 | 11/16/23 | DKK | 2,653.28 | DKK | 2,747 | (9,487 | ) | |||||||||||||||||||||
Sanofi | Morgan Stanley & Co. International PLC | 5,400 | 11/16/23 | EUR | 103.71 | EUR | 548 | (11,544 | ) | |||||||||||||||||||||
Glaukos Corp. | Citibank N.A. | 1,100 | 11/27/23 | USD | 81.52 | USD | 83 | (3,452 | ) | |||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
$ | (135,585 | ) | ||||||||||||||||||||||||||||
|
|
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 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); and |
S C H E D U L E O F I N V E S T M E N T S | 6 |
Schedule of Investments (unaudited) (continued) September 30, 2023 | BlackRock Health Sciences Trust (BME) |
Fair Value Hierarchy as of Period End (continued)
• | 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 Trust’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
Certain investments of the Trust were fair valued using net asset value (“NAV”) as a practical expedient as no quoted market value is available and therefore have been excluded from the fair value hierarchy.
The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy. The breakdown of the Trust’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 | ||||||||||||||||
Biotechnology | $ | 141,143,714 | $ | 1,036,306 | $ | 860,827 | $ | 143,040,847 | ||||||||
Health Care Equipment & Supplies | 125,093,234 | — | — | 125,093,234 | ||||||||||||
Health Care Providers & Services | 106,891,412 | — | — | 106,891,412 | ||||||||||||
Life Sciences Tools & Services | 50,789,248 | — | — | 50,789,248 | ||||||||||||
Pharmaceuticals | 104,848,433 | 13,619,984 | 440,003 | 118,908,420 | ||||||||||||
Other Interests | — | — | 150,226 | 150,226 | ||||||||||||
Preferred Securities | ||||||||||||||||
Preferred Stocks | — | — | 3,745,630 | 3,745,630 | ||||||||||||
Rights | — | — | 40,062 | 40,062 | ||||||||||||
Warrants | 1,245 | — | — | 1,245 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 23,332,546 | — | — | 23,332,546 | ||||||||||||
Liabilities | ||||||||||||||||
Investments | ||||||||||||||||
Unfunded SPAC PIPE Commitments(a) | — | — | (37,335 | ) | (37,335 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 552,099,832 | $ | 14,656,290 | $ | 5,199,413 | 571,955,535 | ||||||||||
|
|
|
|
|
|
|
| |||||||||
Investments Valued at NAV(b) | 1,120,510 | |||||||||||||||
|
| |||||||||||||||
$ | 573,076,045 | |||||||||||||||
|
| |||||||||||||||
Derivative Financial Instruments(c) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (2,682,254 | ) | $ | (323,902 | ) | $ | — | $ | (3,006,156 | ) | |||||
|
|
|
|
|
|
|
|
(a) | Unfunded SPAC PIPE commitments are valued at the unrealized appreciation (depreciation) on the commitment. |
(b) | Certain investments of the Trust were fair valued using NAV as a practical expedient 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. |
Currency Abbreviation | Portfolio Abbreviation | |||||||||
DKK | Danish Krone | ADR | American Depositary Receipt | |||||||
EUR | Euro | CVR | Contingent Value Right | |||||||
GBP | British Pound | |||||||||
JPY | Japanese Yen | |||||||||
USD | United States Dollar |
7 |