Name of Fund: | BlackRock Science and Technology Trust (BST) |
Fund Address: | 100 Bellevue Parkway, Wilmington, DE 19809 |
JUNE 30, 2022 |
2022 Semi-Annual Report (Unaudited) |
Not FDIC Insured • May Lose Value • No Bank Guarantee |
Total Cumulative Distributions for the Fiscal Period | % Breakdown of the Total Cumulative Distributions for the Fiscal Period | |||||||||||||||||||||||||||||||||||||||
Trust Name | | Net Income | | | Net Realized Capital Gains Short-Term | | | Net Realized Capital Gains Long-Term | | | Return of Capital | (a) | | Total Per Common Share | | | Net Income | | | Net Realized Capital Gains Short-Term | | | Net Realized Capital Gains Long-Term | | | Return of Capital | | | Total Per Common Share | | ||||||||||
BGR | $ | 0.186381 | $ | — | $ | — | $ | 0.069619 | $ | 0.256000 | 73 | % | — | % | — | % | 27 | % | 100 | % | ||||||||||||||||||||
CII | 0.025717 | 0.343132 | 0.228151 | — | 0.597000 | 4 | 57 | 39 | — | 100 | ||||||||||||||||||||||||||||||
BDJ | 0.082480 | 0.093121 | 0.149199 | — | 0.324800 | 25 | 29 | 46 | — | 100 | ||||||||||||||||||||||||||||||
BOE | 0.126586 | — | 0.251414 | — | 0.378000 | 33 | — | 67 | — | 100 | ||||||||||||||||||||||||||||||
BGY | 0.071189 | — | 0.050024 | 0.081587 | 0.202800 | 35 | — | 25 | 40 | 100 | ||||||||||||||||||||||||||||||
BME | 0.035721 | — | 1.242279 | — | 1.278000 | 3 | — | 97 | — | 100 | ||||||||||||||||||||||||||||||
BMEZ | — | 0.357947 | 0.512053 | — | 0.870000 | — | 41 | 59 | — | 100 | ||||||||||||||||||||||||||||||
BIGZ | — | — | — | 0.570000 | 0.570000 | — | — | — | 100 | 100 | ||||||||||||||||||||||||||||||
BCX | 0.154480 | — | — | 0.105520 | 0.260000 | 59 | — | — | 41 | 100 | ||||||||||||||||||||||||||||||
BST | — | — | 1.500000 | — | 1.500000 | — | — | 100 | — | 100 | ||||||||||||||||||||||||||||||
BSTZ | — | 0.380441 | 0.771559 | — | 1.152000 | — | 33 | 67 | — | 100 | ||||||||||||||||||||||||||||||
BUI | 0.210835 | — | 0.482989 | 0.032176 | 0.726000 | 29 | — | 67 | 4 | 100 |
(a) | Each Trust estimates that it has distributed more than its net income and net realized capital gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment in a Trust is returned to the shareholder. A return of capital does not necessarily reflect a Trust’s investment performance and should not be confused with “yield” or “income.” When distributions exceed total return performance, the difference will reduce a Trust’s net asset value per share. |
Exchange Symbol | Amount Per Common Share | |||
BGR | $ | 0.0490 | ||
CII | 0.0995 | |||
BDJ | 0.0562 | |||
BOE | 0.0630 | |||
BGY | 0.0338 | |||
BME | 0.2130 | |||
BMEZ | 0.1450 | |||
BIGZ | 0.0700 | |||
BCX | 0.0450 | |||
BST | 0.2500 | |||
BSTZ | 0.1920 | |||
BUI | 0.1210 |
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S U P P L E M E N T A L I N F O R M A T I O N | 3 |
Total Returns as of June 30, 2022 | ||||
6-Month | 12-Month | |||
U.S. large cap equities (S&P 500 ® Index) | (19.96)% | (10.62)% | ||
U.S. small cap equities (Russell 2000 ® Index) | (23.43) | (25.20) | ||
International equities (MSCI Europe, Australasia, Far East Index) | (19.57) | (17.77) | ||
Emerging market equities (MSCI Emerging Markets Index) | (17.63) | (25.28) | ||
3-month Treasury bills(ICE BofA 3-Month U.S. Treasury Bill Index) | 0.15 | 0.18 | ||
U.S. Treasury securities (ICE BofA 10-Year U.S. Treasury Index) | (11.34) | (10.94) | ||
U.S. investment grade bonds (Bloomberg U.S. Aggregate Bond Index) | (10.35) | (10.29) | ||
Tax-exempt municipal bonds(Bloomberg Municipal Bond Index) | (8.98) | (8.57) | ||
U.S. high yield bonds (Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index) | (14.19) | (12.82) | ||
Past performance is not an indication of future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index. |
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6 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 | BlackRock Energy and Resources Trust (BGR) |
Symbol on New York Stock Exchange | BGR | |
Initial Offering Date | December 29, 2004 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($10.97) (a) | 5.36% | |
Current Monthly Distribution per Common Share (b) | $0.0490 | |
Current Annualized Distribution per Common Share (b) | $0.5880 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. The current distribution rate may consist of income, net realized gains and/or a return of capital. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. A portion of the distribution may be deemed a return of capital or net realized gain. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ 10.97 | $ 9.48 | 15.72 | % | $ 13.63 | $ 9.48 | ||||||||||||||
Net Asset Value | 12.51 | 10.77 | 16.16 | 15.19 | 10.77 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||
Trust at NAV (a)(b) | 18.75 | % | 28.49 | % | 4.49 | % | 2.04 | % | ||||||||
Trust at Market Price (a)(b) | 18.30 | 17.04 | 3.48 | 1.31 | ||||||||||||
MSCI World Energy Call Overwrite Index (c) | 20.13 | 26.14 | N/A | N/A | ||||||||||||
MSCI World Energy Index (d) | 23.96 | 31.20 | 5.34 | 2.44 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(b) | The Trust’s discount to NAV widened during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | An index that incorporates an option overlay component on the MSCI World Energy Index with a 33% overwrite level. The benchmark commenced on December 31, 2018 and therefore the benchmark does not have 5- and10-year returns. |
(d) | An index that is designed to capture the large- and mid-cap segments across developed markets countries. All securities in the index are classified in the energy sector as per the Global Industry Classification Standard. |
T R U S T SU M M A R Y | 7 |
Trust Summary as of June 30, 2022 (continued) | BlackRock Energy and Resources Trust (BGR) |
Security (a) | Percent of Total Investments | |||
Exxon Mobil Corp. | 13.3 | % | ||
Chevron Corp. | 11.4 | |||
Shell PLC | 10.8 | |||
ConocoPhillips | 6.7 | |||
TotalEnergies SE | 6.5 | |||
TC Energy Corp. | 4.7 | |||
EOG Resources, Inc. | 4.1 | |||
Suncor Energy, Inc. | 3.9 | |||
Williams Cos., Inc. | 3.6 | |||
Pioneer Natural Resources Co. | 3.5 |
Industry (a)(b) | 06/30/22 | |||
Oil, Gas & Consumable Fuels | 95.4 | % | ||
Energy Equipment & Services | 3.7 | |||
Other* | 0.9 |
(a) | Excludes short-term securities and options written. |
(b) | 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 ratings group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industrysub-classifications for reporting ease. |
* | Includes one or more investment categories that individually represents less than 1.0% of the Trust’s total investments. Please refer to the Schedule of Investments for details. |
8 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 | BlackRock Enhanced Capital and Income Fund, Inc. (CII) |
Symbol on New York Stock Exchange | CII | |
Initial Offering Date | April 30, 2004 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($17.58) (a) | 6.79% | |
Current Monthly Distribution per Common Share (b) | $0.0995 | |
Current Annualized Distribution per Common Share (b) | $1.1940 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ 17.58 | $ 22.12 | (20.52) | % | $ 22.12 | $ 16.94 | ||||||||||||||
Net Asset Value | 18.44 | 22.10 | (16.56) | 22.26 | 18.01 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||
Trust at NAV (a)(b) | (13.99) | % | (8.91) | % | 9.55 | % | 10.64 | % | ||||||||
Trust at Market Price (a)(b) | (18.08) | (9.57) | 9.93 | 11.00 | ||||||||||||
MSCI USA Call Overwrite Index (c) | (17.13) | (9.57) | N/A | N/A | ||||||||||||
Russell 1000 ® Index (d) | (20.94) | (13.04) | 11.00 | 12.82 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(b) | The Trust moved from a premium to NAV to a discount during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | An index that incorporates an option overlay component on the MSCI USA Index with a 55% overwrite level. The benchmark commenced on December 31, 2018 and therefore the benchmark does not have 5- and10-year returns. |
(d) | An index that measures the performance of the large-cap segment of the U.S. equity universe. It is a subset of the Russell 3000® Index and includes approximately 1,000 of the largest securities based on a combination of their market capitalization and current index membership. The index represents approximately 93% of the U.S. market. |
T R U S T SU M M A R Y | 9 |
Trust Summary as of June 30, 2022 (continued) | BlackRock Enhanced Capital and Income Fund, Inc. (CII) |
10 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 (continued) | BlackRock Enhanced Capital and Income Fund, Inc. (CII) |
Security (a) | Percent of Total Investments | |||
Microsoft Corp. | 6.7 | % | ||
Alphabet, Inc. | 5.3 | |||
Apple, Inc. | 4.5 | |||
Amazon.com, Inc. | 4.3 | |||
UnitedHealth Group, Inc. | 3.1 | |||
Comcast Corp. | 3.0 | |||
Corteva, Inc. | 2.9 | |||
Visa, Inc. | 2.7 | |||
Berkshire Hathaway, Inc. | 2.6 | |||
Sanofi | 2.6 |
Sector (a)(b) | 06/30/22 | |||
Information Technology | 22.9 | % | ||
Health Care | 15.0 | |||
Financials | 13.0 | |||
Consumer Discretionary | 12.6 | |||
Communication Services | 12.1 | |||
Industrials | 9.2 | |||
Materials | 5.2 | |||
Consumer Staples | 4.5 | |||
Energy | 4.2 | |||
Real Estate | 1.3 |
(a) | Excludes short-term securities and options written. |
(b) | For Trust compliance purposes, the Trust’s sector classifications refer to one or more of the sector 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 sectorsub-classifications for reporting ease. |
T R U S T SU M M A R Y | 11 |
Trust Summary as of June 30, 2022 | BlackRock Enhanced Equity Dividend Trust (BDJ) |
Symbol on New York Stock Exchange | BDJ | |
Initial Offering Date | August 31, 2005 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($8.83) (a) | 7.64% | |
Current Monthly Distribution per Common Share (b) | $0.0562 | |
Current Annualized Distribution per Common Share (b) | $0.6744 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ | 8.83 | $ | 10.08 | (12.40 | )% | $ | 10.43 | $ | 8.76 | ||||||||||
Net Asset Value | 9.09 | 10.23 | (11.14 | ) | 10.55 | 8.90 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||
Trust at NAV (a)(b) | (8.07 | )% | (4.79 | )% | 6.83 | % | 8.71 | % | ||||||||
Trust at Market Price (a)(b) | (9.37 | ) | (4.68 | ) | 7.83 | 9.72 | ||||||||||
MSCI USA Value Call Overwrite Index (c) | (9.68 | ) | (0.31 | ) | N/A | N/A | ||||||||||
Russell 1000 ® Value Index (d) | (12.86 | ) | (6.82 | ) | 7.17 | 10.50 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(b) | The Trust’s discount to NAV widened during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | An index that incorporates an option overlay component on the MSCI USA Value Index with a 55% overwrite level. The benchmark commenced on December 31, 2018 and therefore the benchmark does not have 5- and10-year returns. |
(d) | An index that measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000 companies with lowerprice-to-book |
12 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 (continued) | BlackRock Enhanced Equity Dividend Trust (BDJ) |
Security (a) | Percent of Total Investments | |||
Wells Fargo & Co. | 3.1 | % | ||
Elevance Health, Inc. | 2.9 | |||
Citigroup, Inc. | 2.8 | |||
Humana, Inc. | 2.7 | |||
BP PLC | 2.6 | |||
Cisco Systems, Inc. | 2.5 | |||
Enterprise Products Partners LP | 2.5 | |||
Medtronic PLC | 2.4 | |||
AstraZeneca PLC | 2.4 | |||
Sanofi | 2.2 |
Sector (a)(b) | 06/30/22 | |||
Health Care | 23.4 | % | ||
Financials | 21.2 | |||
Information Technology | 13.2 | |||
Energy | 8.7 | |||
Industrials | 8.2 | |||
Consumer Discretionary | 7.7 | |||
Communication Services | 6.6 | |||
Consumer Staples | 5.5 | |||
Utilities | 3.3 | |||
Materials | 2.2 |
(a) | Excludes short-term securities and options written. |
(b) | For Trust compliance purposes, the Trust’s sector classifications refer to one or more of the sector 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 sectorsub-classifications for reporting ease. |
T R U S T SU M M A R Y | 13 |
Trust Summary as of June 30, 2022 | BlackRock Enhanced Global Dividend Trust (BOE) |
Symbol on New York Stock Exchange | BOE | |
Initial Offering Date | May 31, 2005 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($9.77) (a) | 7.74% | |
Current Monthly Distribution per Common Share (b) | $0.0630 | |
Current Annualized Distribution per Common Share (b) | $0.7560 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ | 9.77 | $ | 12.18 | (19.79 | )% | $ | 12.40 | $ | 9.59 | ||||||||||
Net Asset Value | 11.17 | 13.40 | (16.64 | ) | 13.48 | 10.93 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||
Trust at NAV (a)(b) | (13.71)% | (10.20)% | 4.02% | 6.49% | ||||||||||||
Trust at Market Price (a)(b) | (16.96) | (16.89) | 3.09 | 6.10 | ||||||||||||
MSCI ACWI Call Overwrite Index (c) | (17.69) | (13.08) | N/A | N/A | ||||||||||||
MSCI ACWI (d) | (20.18) | (15.75) | 7.00 | 8.76 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(b) | The Trust’s discount to NAV widened during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | An index that incorporates an option overlay component on the MSCI ACWI Index with a 45% overwrite level. The benchmark commenced on December 31, 2018 and therefore the benchmark does not have 5- and10-year returns. |
(d) | An index that captures large- and mid-cap representation across certain developed and emerging markets. |
14 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 (continued) | BlackRock Enhanced Global Dividend Trust (BOE) |
Security (a) | Percent of Total Investments | |||
Microsoft Corp. | 3.7 | % | ||
Sanofi | 3.6 | |||
AstraZeneca PLC | 3.2 | |||
Novo Nordisk A/S | 3.1 | |||
RELX PLC. | 3.1 | |||
Reckitt Benckiser Group PLC. | 3.1 | |||
UnitedHealth Group, Inc. | 2.8 | |||
AbbVie, Inc. | 2.7 | |||
Taiwan Semiconductor Manufacturing Co. Ltd. | 2.6 | |||
EDP - Energias de Portugal SA | 2.6 |
Country/Geographic Region | 06/30/22 | |||
United States | 44.3 | % | ||
United Kingdom | 18.7 | |||
France | 10.5 | |||
Taiwan | 3.9 | |||
Switzerland | 3.6 | |||
Denmark | 3.1 | |||
Portugal | 2.6 | |||
Canada | 2.5 | |||
Ireland | 2.4 | |||
Netherlands | 1.7 | |||
Sweden | 1.7 | |||
Japan | 1.5 | |||
Mexico | 1.2 | |||
Indonesia | 1.1 | |||
Singapore | 1.1 | |||
India | 0.1 |
(a) | Excludes short-term securities and options written. |
T R U S T SU M M A R Y | 15 |
Trust Summary as of June 30, 2022 | BlackRock Enhanced International Dividend Trust (BGY) |
Symbol on New York Stock Exchange | BGY | |
Initial Offering Date | May 30, 2007 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($5.06) (a) | 8.02% | |
Current Monthly Distribution per Common Share (b) | $0.0338 | |
Current Annualized Distribution per Common Share (b) | $0.4056 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. The current distribution rate may consist of income, net realized gains and/or a return of capital. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. A portion of the distribution may be deemed a return of capital or net realized gain. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ 5.06 | $ 6.28 | (19.43) | % | $ 6.40 | $ 4.88 | ||||||||||||||
Net Asset Value | 5.69 | 6.81 | (16.45) | 6.84 | 5.61 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||
Trust at NAV (a)(b) | (13.36) | % | (10.93) | % | 3.74 | % | 4.79 | % | ||||||||
Trust at Market Price (a)(b) | (16.45) | (17.29) | 2.93 | 4.59 | ||||||||||||
MSCI ACWI ex USA Call Overwrite Index (c) | (16.77) | (16.97) | N/A | N/A | ||||||||||||
MSCI ACWI ex USA Index (d) | (18.42) | (19.42) | 2.50 | 4.83 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(b) | The Trust’s discount to NAV widened during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | An index that incorporates an option overlay component on the MSCI ACWI ex USA Index with a 45% overwrite level. The benchmark commenced on December 31, 2018 and therefore the benchmark does not have 5- and10-year returns. |
(d) | An index that captures large- and mid-cap representation across certain developed markets countries (excluding the U.S.) and certain emerging markets countries. |
16 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 (continued) | BlackRock Enhanced International Dividend Trust (BGY) |
Security (a) | Percent of Total Investments | |||
Sanofi | 5.0 | % | ||
AstraZeneca PLC | 4.9 | |||
Novo Nordisk A/S | 4.8 | |||
Reckitt Benckiser Group PLC | 4.8 | |||
EDP - Energias de Portugal SA | 4.1 | |||
EssilorLuxottica SA | 4.0 | |||
Prudential PLC | 3.9 | |||
RELX PLC | 3.8 | |||
Diageo PLC | 3.8 | |||
TELUS Corp. | 3.4 |
Country/Geographic Region | 06/30/22 | |||
United Kingdom | 28.3 | % | ||
France | 19.2 | |||
United States | 11.9 | |||
Taiwan | 5.2 | |||
Denmark | 4.8 | |||
Singapore | 4.2 | |||
Portugal | 4.0 | |||
Canada | 3.3 | |||
India | 3.1 | |||
Netherlands | 2.9 | |||
Sweden | 2.5 | |||
Spain | 2.5 | |||
Mexico | 2.3 | |||
Switzerland | 2.1 | |||
Japan | 1.9 | |||
Indonesia | 1.8 |
(a) | Excludes short-term securities and options written. |
T R U S T SU M M A R Y | 17 |
Trust Summary as of June 30, 2022 | BlackRock Health Sciences Trust (BME) |
Symbol on New York Stock Exchange | BME | |
Initial Offering Date | March 31, 2005 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($42.40) (a) | 6.03% | |
Current Monthly Distribution per Common Share (b) | $0.2130 | |
Current Annualized Distribution per Common Share (b) | $2.5560 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ | 42.40 | $ | 48.50 | (12.58 | )% | $ | 48.50 | $ | 39.97 | ||||||||||
Net Asset Value | 41.95 | 47.96 | (12.53 | ) | 47.96 | 39.35 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||
Trust at NAV (a)(b) | (9.93 | )% | (7.09 | )% | 9.96 | % | 13.58 | % | ||||||||
Trust at Market Price (a)(b) | (9.97 | ) | (7.58 | ) | 9.35 | 13.22 | ||||||||||
MSCI USA Investable Market Index Health Care Call Overwrite Index (c) | (11.87 | ) | (5.62 | ) | N/A | N/A | ||||||||||
Russell 3000 ® Health Care Index (d) | (11.64 | ) | (5.14 | ) | 11.20 | 14.58 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(b) | The Trust’s premium to NAV narrowed during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | An index that incorporates an option overlay component on the MSCI USA Investable Market Index Health Care Index with a 33% overwrite level. The benchmark commenced on December 31, 2018 and therefore the benchmark does not have 5- and10-year returns. |
(d) | An unmanaged index that features companies involved in medical services or health care in the Russell 3000! Index, which includes the largest 3,000 U.S. companies as determined by total market capitalization. |
18 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 (continued) | BlackRock Health Sciences Trust (BME) |
Security (a) | Percent of Total Investments | |||
UnitedHealth Group, Inc. | 10.1 | % | ||
Johnson & Johnson | 5.6 | |||
Eli Lilly & Co. | 5.3 | |||
Pfizer, Inc. | 4.5 | |||
Thermo Fisher Scientific, Inc. | 4.2 | |||
Abbott Laboratories | 4.1 | |||
AbbVie, Inc. | 3.8 | |||
Merck & Co., Inc. | 3.7 | |||
Elevance Health, Inc. | 3.2 | |||
Amgen, Inc. | 3.0 |
Industry (a)(b) | 06/30/22 | |||
Pharmaceuticals | 28.6 | % | ||
Health Care Providers & Services | 24.4 | |||
Biotechnology | 19.4 | |||
Health Care Equipment & Supplies | 15.9 | |||
Life Sciences Tools & Services | 11.1 | |||
Other* | 0.6 |
(a) | Excludes short-term securities and options written. |
(b) | 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 ratings group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industrysub-classifications for reporting ease. |
* | Includes one or more investment categories that individually represents less than 1.0% of the Trust’s total investments. Please refer to the Schedule of Investments for details. |
T R U S T SU M M A R Y | 19 |
Trust Summary as of June 30, 2022 | BlackRock Health Sciences Trust II (BMEZ) |
Symbol on New York Stock Exchange | BMEZ | |
Initial Offering Date | January 30, 2020 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($16.43) (a) | 10.59% | |
Current Monthly Distribution per Common Share (b) | $0.1450 | |
Current Annualized Distribution per Common Share (b) | $1.7400 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ | 16.43 | $ | 25.36 | (35.21 | )% | $ | 25.59 | $ | 15.20 | ||||||||||
Net Asset Value | 18.91 | 26.47 | (28.56 | ) | 26.63 | 17.79 |
Average Annual Total Returns | ||||||||||||
6-month | 1 Year | Since Inception (a) | ||||||||||
Trust at NAV (b)(c) | (25.17)% | (32.60)% | 3.84% | |||||||||
Trust at Market Price (b)(c) | (32.14) | (38.38) | (2.03) | |||||||||
MSCI Custom ACWI SMID Growth HC Call Overwrite Index (d) | (17.49) | N/A | N/A | |||||||||
MSCI ACWI 25% Call Overwrite Index (e) | (4.37) | 1.05 | 11.29 | |||||||||
MSCI ACWI (f) | (20.18) | (15.75) | 3.97 |
(a) | BMEZ commenced operations on January 30, 2020. |
(b) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(c) | The Trust’s discount to NAV widened during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(d) | An index representing the Health Care sector stocks within the MSCI ACWI SMID Cap Growth Index and incorporating an option overlay component with a 25% overwrite level. The MSCI ACWI SMID Cap Growth Index captures mid- andsmall-cap securities exhibiting overall growth style characteristics across certain Developed and Emerging Markets countries. The index commenced on March 31, 2022 and therefore the6-month index return presented is for the period March 31, 2022 through June 30, 2022. |
(e) | An index that incorporates an option overlay component on the MSCI ACWI Index with a 25% overwrite level. Effective on March 31, 2022, this index was discontinued and the Trust changed its benchmark to the MSCI Custom ACWI SMID Growth HC Call Overwrite index. The investment adviser believes the new benchmark is a more appropriate benchmark for the Trust. Because the index was discontinued on March 31, 2022, the index returns presented are as follows: the 6-month return is for the period from January 1, 2022 through March 31, 2022, the1-year return is for the period from July 1, 2021 through March 31, 2022 and the since inception return is for the period from January 30, 2020 through March 31, 2022. |
(f) | An index that captures large- and mid-cap representation across certain developed and emerging markets. |
20 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 (continued) | BlackRock Health Sciences Trust II (BMEZ) |
T R U S T SU M M A R Y | 21 |
Trust Summary as of June 30, 2022 (continued) | BlackRock Health Sciences Trust II (BMEZ) |
Security (a) | Percent of Total Investments | |||
Vertex Pharmaceuticals, Inc. | 3.2 | % | ||
Alcon, Inc. | 2.5 | |||
ResMed, Inc. | 2.0 | |||
Argenx SE | 1.9 | |||
Daiichi Sankyo Co. Ltd. | 1.8 | |||
Waters Corp. | 1.8 | |||
LHC Group, Inc. | 1.8 | |||
Quest Diagnostics, Inc. | 1.7 | |||
Alkermes PLC | 1.7 | |||
Sarepta Therapeutics, Inc. | 1.7 |
Industry (a)(b) | 06/30/22 | |||
Biotechnology | 36.6 | % | ||
Health Care Equipment & Supplies | 23.4 | |||
Health Care Providers & Services | 14.7 | |||
Life Sciences Tools & Services | 13.4 | |||
Pharmaceuticals | 7.4 | |||
Diversified Financial Services | 2.3 | |||
Other* | 2.2 |
(a) | Excludes short-term securities and options written. |
(b) | 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 ratings group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industrysub-classifications for reporting ease. |
* | Includes one or more investment categories that individually represents less than 1.0% of the Trust’s total investments. Please refer to the Schedule of Investments for details. |
22 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 | BlackRock Innovation and Growth Trust (BIGZ) |
Symbol on New York Stock Exchange | BIGZ | |
Initial Offering Date | March 29, 2021 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($7.94) (a) | 10.58% | |
Current Monthly Distribution per Common Share (b) | $0.0700 | |
Current Annualized Distribution per Common Share (b) | $0.8400 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. The current distribution rate may consist of income, net realized gains and/or a return of capital. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. A portion of the distribution may be deemed a return of capital or net realized gain. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ 7.94 | $ 14.54 | (45.39) | % | $ 14.97 | $ 7.38 | ||||||||||||||
Net Asset Value | 9.48 | 16.72 | (43.30) | 16.72 | 9.12 |
Average Annual Total Returns | ||||||||||||
6-month | 1 Year | Since Inception (a) | ||||||||||
Trust at NAV (b)(c) | (40.12)% | (47.58)% | (40.54)% | |||||||||
Trust at Market Price (b)(c) | (42.33) | (57.26) | (48.37) | |||||||||
MSCI USA SMID Growth Call Overwrite Index (d) | (27.12) | (25.24) | (15.56) | |||||||||
Russell 2500 ™ Growth Index(e) | (29.45) | (31.81) | (20.67) |
(a) | BIGZ commenced operations on March 29, 2021. |
(b) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(c) | The Trust’s discount to NAV widened during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(d) | An index that incorporates an option overlay component on the MSCI USA SMID Growth Index with a 25% overwrite level. |
(e) | An index that measures the performance of the small to mid-cap growth segment of the US equity universe. It includes those Russell 2500 companies with higher growth earning potential as defined by FTSE Russell’s leading style methodology. |
T R U S T SU M M A R Y | 23 |
Trust Summary as of June 30, 2022 (continued) | BlackRock Innovation and Growth Trust (BIGZ) |
24 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 (continued) | BlackRock Innovation and Growth Trust (BIGZ) |
Security (a) | Percent of Total Investments | |||
Monolithic Power Systems, Inc. | 3.1 | % | ||
Bio-Techne Corp. | 2.9 | |||
Entegris, Inc. | 2.8 | |||
Axon Enterprise, Inc. | 2.7 | |||
Paylocity Holding Corp. | 2.6 | |||
Five9, Inc. | 2.6 | |||
Planet Fitness, Inc. | 2.5 | |||
Tradeweb Markets, Inc. | 2.4 | |||
Chart Industries, Inc. | 2.4 | |||
Globant SA | 2.4 |
Industry (a)(b) | 06/30/22 | |||
Software | 25.8 | % | ||
Life Sciences Tools & Services | 10.6 | |||
Semiconductors & Semiconductor Equipment | 10.4 | |||
Aerospace & Defense | 6.4 | |||
IT Services | 6.3 | |||
Hotels, Restaurants & Leisure | 5.8 | |||
Capital Markets | 4.6 | |||
Health Care Technology | 4.0 | |||
Diversified Consumer Services | 3.4 | |||
Machinery | 2.4 | |||
Interactive Media & Services | 2.2 | |||
Internet & Direct Marketing Retail | 1.9 | |||
Auto Components | 1.8 | |||
Entertainment | 1.7 | |||
Leisure Products | 1.7 | |||
Biotechnology | 1.7 | |||
Food Products | 1.6 | |||
Health Care Equipment & Supplies | 1.2 | |||
Equity Real Estate Investment Trusts (REITs) | 1.2 | |||
Wireless Telecommunication Services | 1.1 | |||
Internet Software & Services | 1.0 | |||
Other* | 3.2 |
(a) | Excludes short-term securities and options written. |
(b) | 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 ratings group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industrysub-classifications for reporting ease. |
* | Includes one or more investment categories that individually represents less than 1.0% of the Trust’s total investments. Please refer to the Schedule of Investments for details. |
T R U S T SU M M A R Y | 25 |
Trust Summary as of June 30, 2022 | BlackRock Resources & Commodities Strategy Trust (BCX) |
Symbol on New York Stock Exchange | BCX | |
Initial Offering Date | March 30, 2011 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($8.98) (a) | 6.01% | |
Current Monthly Distribution per Common Share (b) | $0.0450 | |
Current Annualized Distribution per Common Share (b) | $0.5400 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. The current distribution rate may consist of income, net realized gains and/or a return of capital. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. A portion of the distribution may be deemed a return of capital or net realized gain. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ 8.98 | $ 9.35 | (3.96) | % | $ 11.53 | $ 8.75 | ||||||||||||||
Net Asset Value | 9.95 | 10.21 | (2.55) | 12.11 | 9.83 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||
Trust at NAV (a)(b) | (0.05) | % | 5.76 | % | 8.74 | % | 4.09 | % | ||||||||
Trust at Market Price (a)(b) | (1.50) | 0.31 | 9.57 | 3.76 | ||||||||||||
MSCI ACWI Select Liquidity Natural Resources Call Overwrite Index (c) | (2.57) | 0.52 | N/A | N/A | ||||||||||||
S&P Global Natural Resources Net Index (d) | (1.73) | 2.27 | 8.21 | 4.00 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(b) | The Trust’s discount to NAV widened during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | An index that incorporates an option overlay component on the MSCI ACWI Select Liquidity Natural Resources Index with a 33% overwrite level. The benchmark commenced on December 31, 2018 and therefore the benchmark does not have 5- and10-year returns. |
(d) | An index that includes approximately 90 of the largest publicly-traded companies in the natural resources and commodities businesses that meet specific investability requirements across three primary commodity-related sectors: agribusiness, energy, and metals and mining. |
26 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 (continued) | BlackRock Resources & Commodities Strategy Trust (BCX) |
Security (a) | Percent of Total Investments | |||
Exxon Mobil Corp. | 8.5 | % | ||
TotalEnergies SE | 7.0 | |||
Shell PLC | 5.7 | |||
Glencore PLC | 5.5 | |||
Chevron Corp. | 5.0 | |||
Nutrien Ltd. | 4.6 | |||
ConocoPhillips | 4.1 | |||
Suncor Energy, Inc. | 3.6 | |||
Vale SA | 3.4 | |||
FMC Corp. | 3.0 |
Industry (a)(b) | 06/30/22 | |||
Oil, Gas & Consumable Fuels | 45.6 | % | ||
Metals & Mining | 25.2 | |||
Chemicals | 13.8 | |||
Food Products | 7.3 | |||
Machinery | 4.5 | |||
Paper & Forest Products | 2.6 | |||
Other* | 1.0 |
(a) | Excludes short-term securities and options written. |
(b) | 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 ratings group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industrysub-classifications for reporting ease. |
* | Includes one or more investment categories that individually represents less than 1.0% of the Trust’s total investments. Please refer to the Schedule of Investments for details. |
T R U S T SU M M A R Y | 27 |
Trust Summary as of June 30, 2022 | BlackRock Science and Technology Trust (BST) |
Symbol on New York Stock Exchange | BST | |
Initial Offering Date | October 30, 2014 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($32.49) (a) | 9.23% | |
Current Monthly Distribution per Common Share (b) | $0.2500 | |
Current Annualized Distribution per Common Share (b) | $3.0000 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ 32.49 | $ 49.97 | (34.98) | % | $ 50.99 | $ 31.25 | ||||||||||||||
Net Asset Value | 33.61 | 52.40 | (35.86) | 52.59 | 33.58 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | Since Inception (a) | |||||||||||||
Trust at NAV (b)(c)(d) | (33.40 | )% | (33.89 | )% | 15.04 | % | 15.45% | |||||||||
Trust at Market Price (b)(c)(d) | (32.49 | ) | (40.01 | ) | 16.06 | 14.25 | ||||||||||
MSCI ACWI Information Technology Call Overwrite Index (e) | (27.09 | ) | (18.97 | ) | N/A | N/A | ||||||||||
MSCI ACWI Information Technology Index (f) | (29.73 | ) | (20.45 | ) | 16.24 | 15.86 |
(a) | BST commenced operations on October 30, 2014. |
(b) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(c) | The Trust’s discount to NAV narrowed during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(d) | For financial reporting purposes, the market value of certain investments were adjusted as of report date. Accordingly, the NAV per share and total return performance based on NAV presented herein are different than the information previously published on June 30, 2022. |
(e) | An index that incorporates an option overlay component on the MSCI ACWI Information Technology Index with a 33% overwrite level. The benchmark commenced on December 31, 2018 and therefore the benchmark does not have 5- and10-year returns. |
(f) | An index that includes large- and mid-cap securities across certain Developed Markets countries and certain Emerging Markets countries. All securities in the index are classified in the Information Technology sector as per the Global Industry Classification Standard. |
28 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 (continued) | BlackRock Science and Technology Trust (BST) |
T R U S T SU M M A R Y | 29 |
Trust Summary as of June 30, 2022 (continued) | BlackRock Science and Technology Trust (BST) |
Security (a) | Percent of Total Investments | |||
Apple, Inc. | 6.4 | % | ||
Microsoft Corp. | 6.3 | |||
Alphabet, Inc. | 2.9 | |||
Mastercard, Inc. | 2.8 | |||
Marvell Technology, Inc. | 2.4 | |||
Visa, Inc. | 2.3 | |||
Tesla, Inc. | 2.2 | |||
Bolt Financial, Inc. | 2.0 | |||
Klarna Holdings AB | 1.9 | |||
Amazon.com, Inc. | 1.7 |
Industry (a)(b) | 06/30/22 | |||
Software | 31.5 | % | ||
Semiconductors & Semiconductor Equipment | 19.7 | |||
IT Services | 17.6 | |||
Interactive Media & Services | 7.6 | |||
Technology Hardware, Storage & Peripherals | 6.4 | |||
Internet & Direct Marketing Retail | 2.8 | |||
Automobiles | 2.2 | |||
Banks | 1.9 | |||
Electronic Equipment, Instruments & Components | 1.8 | |||
Food & Staples Retailing | 1.5 | |||
Other* | 7.0 |
(a) | Excludes short-term securities and options written. |
(b) | 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 ratings group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industrysub-classifications for reporting ease. |
* | Includes one or more investment categories that individually represents less than 1.0% of the Trust’s total investments. Please refer to the Consolidated Schedule of Investments for details. |
30 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 | BlackRock Science and Technology Trust II (BSTZ) |
Symbol on New York Stock Exchange | BSTZ | |
Initial Offering Date | June 27, 2019 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($19.59) (a) | 11.76% | |
Current Monthly Distribution per Common Share (b) | $0.1920 | |
Current Annualized Distribution per Common Share (b) | $2.3040 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ | 19.59 | $ | 38.94 | (49.69 | )% | $ | 39.04 | $ | 19.34 | ||||||||||
Net Asset Value | 22.96 | 38.82 | (40.86 | ) | 38.84 | 22.96 |
Average Annual Total Returns | ||||||||||||
6-month | 1 Year | Since Inception (a) | ||||||||||
Trust at NAV (b)(c)(d) | (38.15 | )% | (41.00 | )% | 11.88% | |||||||
Trust at Market Price (b)(c)(d) | (47.39 | ) | (48.14 | ) | 6.13 | |||||||
MSCI Custom ACWI SMID Growth IT Call Overwrite Index (e) | (21.98 | ) | N/A | N/A | ||||||||
MSCI ACWI 25% Call Overwrite Index (f) | (4.37 | ) | 1.05 | 12.29 | ||||||||
MSCI ACWI (g) | (20.18 | ) | (15.75 | ) | 6.36 |
(a) | BSTZ commenced operations on June 27, 2019. |
(b) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(c) | The Trust moved from a premium to NAV to a discount during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(d) | For financial reporting purposes, the market value of certain investments were adjusted as of report date. Accordingly, the NAV per share and total return performance based on NAV presented herein are different than the information previously published on June 30, 2022. |
(e) | An index representing the Information Technology (IT) sector stocks within the MSCI ACWI SMID Cap Growth Index and incorporating an option overlay component with a 25% overwrite level. The MSCI ACWI SMID Cap Growth Index captures mid- andsmall-cap securities exhibiting overall growth style characteristics across certain Developed and Emerging Markets. The index commenced on March 31, 2022 and therefore the6-month index return shown is for the period March 31, 2022 through June 30, 2022. |
(f) | An index that incorporates an option overlay component on the MSCI ACWI Index with a 25% overwrite level. Effective on March 31, 2022, this index was discontinued and the Trust changed its benchmark to the MSCI Custom ACWI SMID Growth IT Call Overwrite index. The investment adviser believes the new benchmark is a more appropriate benchmark for the Trust. Because the index was discontinued on March 31, 2022, the index returns presented are as follows: the 6-month return is for the period from January 1, 2022 through March 31, 2022, the1-year return is for the period from July 1, 2021 through March 31, 2022 and the since inception return is for the period from June 27, 2019 through March 31, 2022. |
(g) | An index that captures large- and mid-cap representation across certain developed and emerging markets. |
T R U S T SU M M A R Y | 31 |
Trust Summary as of June 30, 2022 (continued) | BlackRock Science and Technology Trust II (BSTZ) |
32 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 (continued) | BlackRock Science and Technology Trust II (BSTZ) |
Security (a) | Percent of Total Investments | |||
Klarna Holdings AB | 3.6 | % | ||
Databricks, Inc. | 3.2 | |||
Tesla, Inc. | 3.2 | |||
ByteDance Ltd. | 3.0 | |||
Marvell Technology, Inc. | 2.9 | |||
Credo Technology Group Holding Ltd. | 2.9 | |||
SambaNova Systems, Inc. | 2.8 | |||
PsiQuantum Corp. | 2.3 | |||
GrubMarket, Inc. | 2.2 | |||
Synopsys, Inc. | 2.1 |
Industry (a)(b) | 06/30/22 | |||
Software | 25.8 | % | ||
Semiconductors & Semiconductor Equipment | 24.0 | |||
IT Services | 15.2 | |||
Interactive Media & Services | 7.4 | |||
Banks | 3.7 | |||
Electronic Equipment, Instruments & Components | 3.5 | |||
Automobiles | 3.3 | |||
Professional Services | 2.4 | |||
Food & Staples Retailing | 2.2 | |||
Diversified Consumer Services | 2.1 | |||
Entertainment | 1.9 | |||
Internet & Direct Marketing Retail | 1.5 | |||
Technology Hardware, Storage & Peripherals | 1.4 | |||
Media | 1.0 | |||
Food Products | 1.0 | |||
Other* | 3.6 |
(a) | Excludes short-term securities and options written. |
(b) | 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 ratings group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industrysub-classifications for reporting ease. |
* | Includes one or more investment categories that individually represents less than 1.0% of the Trust’s total investments. Please refer to the Consolidated Schedule of Investments for details. |
T R U S T SU M M A R Y | 33 |
Trust Summary as of June 30, 2022 | BlackRock Utilities, Infrastructure & Power Opportunities Tryst (BUI) |
Symbol on New York Stock Exchange | BUI | |
Initial Offering Date | November 25, 2011 | |
Current Distribution Rate on Closing Market Price as of June 30, 2022 ($21.88) (a) | 6.64% | |
Current Monthly Distribution per Common Share (b) | $0.1210 | |
Current Annualized Distribution per Common Share (b) | $1.4520 |
(a) | Current distribution rate on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. The current distribution rate may consist of income, net realized gains and/or a return of capital. Past performance is not an indication of future results. |
(b) | The distribution rate is not constant and is subject to change. A portion of the distribution may be deemed a return of capital or net realized gain. |
06/30/22 | 12/31/21 | Change | High | Low | ||||||||||||||||
Closing Market Price | $ 21.88 | $ 26.62 | (17.81) | % | $ 27.28 | $ 20.46 | ||||||||||||||
Net Asset Value | 21.66 | 25.86 | (16.24) | 25.86 | 21.06 |
Average Annual Total Returns | ||||||||||||||||
6-month | 1 Year | 5 Years | 10 Years | |||||||||||||
Trust at NAV (a)(b) | (13.61 | )% | (7.55 | )% | 7.87 | % | 8.32 | % | ||||||||
Trust at Market Price (a)(b) | (15.22 | ) | (9.81 | ) | 8.26 | 9.09 | ||||||||||
MSCI World Select Energy, Utilities and Industry Call Overwrite Index (c) | (17.05 | ) | (11.51 | ) | N/A | N/A | ||||||||||
MSCI ACWI (d) | (20.18 | ) | (15.75 | ) | 7.00 | 8.76 |
(a) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. |
(b) | The Trust’s premium to NAV narrowed during the period, which accounts for the difference between performance based on market price and performance based on NAV. |
(c) | An index that incorporates an option overlay component on the MSCI World Select Energy, Utilities and Industry Index with a 33% overwrite level. The benchmark commenced on December 31, 2018 and therefore the benchmark does not have 5- and10-year returns. |
(d) | An index that captures large- and mid-cap representation across certain developed and emerging markets. |
34 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Summary as of June 30, 2022 (continued) | BlackRock Utilities, Infrastructure & Power Opportunities Tryst (BUI) |
Security (a) | Percent of Total Investments | |||
NextEra Energy, Inc. | 8.9 | % | ||
Enel SpA | 4.7 | |||
TC Energy Corp. | 4.3 | |||
RWE AG | 4.0 | |||
Waste Management, Inc. | 3.7 | |||
American Electric Power Co., Inc. | 3.4 | |||
Sempra Energy | 3.2 | |||
Dominion Energy, Inc. | 3.1 | |||
Williams Cos., Inc. | 3.1 | |||
Duke Energy Corp. | 2.9 |
Industry (a)(b) | 06/30/22 | |||
Electric Utilities | 30.5 | % | ||
Multi-Utilities | 13.6 | |||
Independent Power and Renewable Electricity Producers | 10.7 | |||
Oil, Gas & Consumable Fuels | 10.4 | |||
Electrical Equipment | 7.9 | |||
Commercial Services & Supplies | 6.2 | |||
Building Products | 5.9 | |||
Chemicals | 4.2 | |||
Machinery | 4.1 | |||
Construction & Engineering | 3.1 | |||
Semiconductors & Semiconductor Equipment | 2.5 | |||
Electronic Equipment, Instruments & Components | 0.9 |
(a) | Excludes short-term securities and options written. |
(b) | 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 ratings group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such industrysub-classifications for reporting ease. |
T R U S T SU M M A R Y | 35 |
Schedule of Investments (unaudited) June 30, 2022 | BlackRock Energy and Resources Trust (BGR) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Energy Equipment & Services — 3.7% | ||||||||
Halliburton Co. (a) | 229,136 | $ | 7,185,705 | |||||
Patterson-UTI Energy, Inc.(a) | 118,800 | 1,872,288 | ||||||
Tenaris SA | 311,650 | 4,002,871 | ||||||
13,060,864 | ||||||||
Food Products — 0.4% | ||||||||
Darling Ingredients, Inc. (a)(b) | 25,424 | 1,520,355 | ||||||
Metals & Mining — 0.5% | ||||||||
Glencore PLC | 346,650 | 1,877,608 | ||||||
Oil, Gas & Consumable Fuels — 94.4% | ||||||||
ARC Resources Ltd. | 304,480 | 3,839,116 | ||||||
Canadian Natural Resources Ltd. | 203,909 | 10,957,416 | ||||||
Cenovus Energy, Inc. | 446,056 | 8,486,569 | ||||||
Cheniere Energy, Inc. (a) | 41,400 | 5,507,442 | ||||||
Chevron Corp. (a)(c) | 277,970 | 40,244,496 | ||||||
ConocoPhillips (a) | 264,442 | 23,749,592 | ||||||
Devon Energy Corp. (a) | 15,717 | 866,164 | ||||||
EOG Resources, Inc. (a) | 129,979 | 14,354,881 | ||||||
Equinor ASA | 141,033 | 4,914,349 | ||||||
Exxon Mobil Corp. (a)(c) | 548,395 | 46,964,548 | ||||||
Gazprom PJSC (d) | 879,200 | 160 | ||||||
Hess Corp. (a) | 94,890 | 10,052,647 | ||||||
Kosmos Energy Ltd. (a)(b) | 227,884 | 1,410,602 | ||||||
Marathon Petroleum Corp. (a) | 71,616 | 5,887,551 | ||||||
Ovintiv, Inc. (a) | 89,800 | 3,968,262 | ||||||
Phillips 66 (a) | 107,248 | 8,793,263 | ||||||
Pioneer Natural Resources Co. (a)(c) | 54,994 | 12,268,061 | ||||||
Repsol SA | 501,366 | 7,391,137 | ||||||
Santos Ltd. | 1,013,286 | 5,137,541 | ||||||
Shell PLC, ADR (a) | 730,622 | 38,204,224 | ||||||
Suncor Energy, Inc. | 394,479 | 13,839,863 | ||||||
TC Energy Corp. | 317,064 | 16,424,664 | ||||||
TotalEnergies SE | 433,148 | 22,799,597 |
Security | Shares | Value | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Tourmaline Oil Corp. | 126,483 | $ | 6,576,684 | |||||
Valero Energy Corp. (a) | 101,374 | 10,774,029 | ||||||
Williams Cos., Inc. (a) | 408,732 | 12,756,526 | ||||||
336,169,384 | ||||||||
Total Long-Term Investments — 99.0% (Cost: $245,104,027) | 352,628,211 | |||||||
Short-Term Securities | ||||||||
Money Market Funds — 0.4% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33%(e)(f) | 1,406,858 | 1,406,858 | ||||||
Total Short-Term Securities — 0.4% (Cost: $1,406,858) | 1,406,858 | |||||||
Total Investments Before Options Written — 99.4% (Cost: $246,510,885) | 354,035,069 | |||||||
Options Written — (0.6)% (Premiums Received: $(5,472,215)) | (2,083,915 | ) | ||||||
Total Investments, Net of Options Written — 98.8% (Cost: $241,038,670) | 351,951,154 | |||||||
Other Assets Less Liabilities — 1.2% | 4,431,384 | |||||||
Net Assets — 100.0% | $ | 356,382,538 | ||||||
(a) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(b) | Non-income producing security. |
(c) | All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives. |
(d) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(e) | Affiliate of the Trust. |
(f) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 2,725,280 | $ | — | $ | (1,318,422 | ) (a) | $ | — | $ | — | $ | 1,406,858 | 1,406,858 | $ | 7,015 | $ | — | ||||||||||||||||||
(a) | Represents net amount purchased (sold). |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call | ||||||||||||||||||||||||
Pioneer Natural Resources Co. | 109 | 07/01/22 | USD | 290.00 | USD | 2,432 | $ | (545 | ) |
36 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Energy and Resources Trust (BGR) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Valero Energy Corp. | 124 | 07/08/22 | USD | 124.00 | USD | 1,318 | $ | (1,736) | ||||||||||||||||
Arc Resources Ltd. | 521 | 07/15/22 | CAD | 18.00 | CAD | 846 | (6,678) | |||||||||||||||||
Arc Resources Ltd. | 102 | 07/15/22 | CAD | 21.50 | CAD | 166 | (317) | |||||||||||||||||
Canadian Natural Resources Limited | 192 | 07/15/22 | CAD | 84.00 | CAD | 1,328 | (970) | |||||||||||||||||
Cenovus Energy Inc. | 562 | 07/15/22 | CAD | 26.50 | CAD | 1,376 | (17,246) | |||||||||||||||||
Cheniere Energy, Inc. | 108 | 07/15/22 | USD | 145.00 | USD | 1,437 | (9,180) | |||||||||||||||||
Darling Ingredients, Inc. | 20 | 07/15/22 | USD | 85.00 | USD | 120 | (300) | |||||||||||||||||
Exxon Mobil Corp. | 879 | 07/15/22 | USD | 100.00 | USD | 7,528 | (9,669) | |||||||||||||||||
HESS Corp. | 190 | 07/15/22 | USD | 130.00 | USD | 2,013 | (8,550) | |||||||||||||||||
Kosmos Energy Ltd. | 311 | 07/15/22 | �� | USD | 9.00 | USD | 193 | (172) | ||||||||||||||||
Marathon Petroleum Corp. | 40 | 07/15/22 | USD | 100.00 | USD | 329 | (460) | |||||||||||||||||
Ovintiv Inc. | 214 | 07/15/22 | USD | 55.00 | USD | 946 | (4,280) | |||||||||||||||||
Patterson-UTI Energy, Inc. | 58 | 07/15/22 | USD | 20.00 | USD | 91 | (870) | |||||||||||||||||
Patterson-UTI Energy, Inc. | 140 | 07/15/22 | USD | 19.00 | USD | 221 | (3,500) | |||||||||||||||||
Phillips 66 | 192 | 07/15/22 | USD | 105.00 | USD | 1,574 | (1,440) | |||||||||||||||||
Shell PLC, ADR | 325 | 07/15/22 | USD | 57.50 | USD | 1,699 | (7,313) | |||||||||||||||||
Shell PLC, ADR | 724 | 07/15/22 | USD | 60.00 | USD | 3,786 | (5,430) | |||||||||||||||||
Tourmaline Oil Corp. | 272 | 07/15/22 | CAD | 68.50 | CAD | 1,820 | (45,326) | |||||||||||||||||
Williams Cos., Inc. | 234 | 07/15/22 | USD | 32.00 | USD | 730 | (12,285) | |||||||||||||||||
ConocoPhillips | 384 | 07/22/22 | USD | 127.00 | USD | 3,449 | (14,592) | |||||||||||||||||
Devon Energy Corp. | 59 | 07/22/22 | USD | 83.00 | USD | 325 | (826) | |||||||||||||||||
EOG Resources, Inc. | 143 | 07/22/22 | USD | 153.20 | USD | 1,579 | (5,005) | |||||||||||||||||
Exxon Mobil Corp. | 4 | 07/22/22 | USD | 105.00 | USD | 34 | (46) | |||||||||||||||||
Exxon Mobil Corp. | 387 | 07/22/22 | USD | 109.00 | USD | 3,314 | (3,096) | |||||||||||||||||
Marathon Petroleum Corp. | 411 | 07/22/22 | USD | 120.00 | USD | 3,379 | (6,576) | |||||||||||||||||
Valero Energy Corp. | 137 | 07/22/22 | USD | 146.00 | USD | 1,456 | (2,466) | |||||||||||||||||
Kosmos Energy Ltd. | 310 | 07/25/22 | USD | 9.10 | USD | 192 | (713) | |||||||||||||||||
Shell PLC, ADR | 802 | 07/25/22 | USD | 59.50 | USD | 4,194 | (22,381) | |||||||||||||||||
Darling Ingredients, Inc. | 76 | 07/27/22 | USD | 79.00 | USD | 454 | (471) | |||||||||||||||||
Chevron Corp. | 193 | 07/29/22 | USD | 165.00 | USD | 2,794 | (18,914) | |||||||||||||||||
ConocoPhillips | 99 | 07/29/22 | USD | 127.00 | USD | 889 | (3,267) | |||||||||||||||||
ConocoPhillips | 100 | 07/29/22 | USD | 95.00 | USD | 898 | (26,500) | |||||||||||||||||
EOG Resources, Inc. | 163 | 07/29/22 | USD | 138.20 | USD | 1,800 | (7,743) | |||||||||||||||||
Exxon Mobil Corp. | 113 | 07/29/22 | USD | 95.00 | USD | 968 | (13,051) | |||||||||||||||||
Halliburton Co. | 346 | 07/29/22 | USD | 34.00 | USD | 1,085 | (36,676) | |||||||||||||||||
Phillips 66 | 145 | 07/29/22 | USD | 94.00 | USD | 1,189 | (14,500) | |||||||||||||||||
Pioneer Natural Resources Co. | 99 | 07/29/22 | USD | 245.00 | USD | 2,208 | (52,470) | |||||||||||||||||
Chevron Corp. | 622 | 08/05/22 | USD | 155.00 | USD | 9,005 | (217,700) | |||||||||||||||||
Conocophillips | 371 | 08/05/22 | USD | 102.00 | USD | 3,332 | (50,456) | |||||||||||||||||
EOG Resources, Inc. | 187 | 08/05/22 | USD | 130.00 | USD | 2,065 | (28,985) | |||||||||||||||||
Exxon Mobil Corp. | 700 | 08/05/22 | USD | 94.00 | USD | 5,995 | (120,750) | |||||||||||||||||
Halliburton Co. | 354 | 08/05/22 | USD | 35.00 | USD | 1,110 | (35,577) | |||||||||||||||||
Hess Corp. | 165 | 08/05/22 | USD | 114.00 | USD | 1,748 | (66,000) | |||||||||||||||||
Marathon Petroleum Corp. | 53 | 08/05/22 | USD | 94.00 | USD | 436 | (7,314) | |||||||||||||||||
Phillips 66 | 102 | 08/05/22 | USD | 90.00 | USD | 836 | (22,440) | |||||||||||||||||
Shell PLC, ADR | 690 | 08/05/22 | USD | 54.50 | USD | 3,608 | (109,954) | |||||||||||||||||
Williams Cos., Inc. | 408 | 08/05/22 | USD | 33.00 | USD | 1,273 | (28,560) | |||||||||||||||||
Chevron Corp. | 241 | 08/12/22 | USD | 155.00 | USD | 3,489 | (97,605) | |||||||||||||||||
Halliburton Co. | 170 | 08/12/22 | USD | 36.44 | USD | 533 | (13,968) | |||||||||||||||||
Williams Cos., Inc. | 408 | 08/12/22 | USD | 33.09 | USD | 1,273 | (31,419) | |||||||||||||||||
Arc Resources Ltd. | 570 | 08/19/22 | CAD | 23.00 | CAD | 925 | (5,092) | |||||||||||||||||
Arc Resources Ltd. | 102 | 08/19/22 | CAD | 21.00 | CAD | 166 | (1,664) | |||||||||||||||||
Canadian Natural Resources Limited | 298 | 08/19/22 | CAD | 82.00 | CAD | 2,061 | (24,309) | |||||||||||||||||
Cenovus Energy Inc. | 1,196 | 08/19/22 | CAD | 31.00 | CAD | 2,929 | (38,095) | |||||||||||||||||
Cheniere Energy, Inc. | 49 | 08/19/22 | USD | 141.35 | USD | 652 | (25,136) | |||||||||||||||||
ConocoPhillips | 20 | 08/19/22 | USD | 105.00 | USD | 180 | (3,190) | |||||||||||||||||
Ovintiv Inc. | 127 | 08/19/22 | USD | 60.00 | USD | 561 | (9,843) | |||||||||||||||||
Patterson-UTI Energy, Inc. | 253 | 08/19/22 | USD | 18.00 | USD | 399 | (20,240) | |||||||||||||||||
Phillips 66 | 21 | 08/19/22 | USD | 110.00 | USD | 172 | (735) | |||||||||||||||||
Shell PLC, ADR | 200 | 08/19/22 | USD | 56.50 | USD | 1,046 | (30,132) | |||||||||||||||||
Suncor Energy Inc. | 336 | 08/19/22 | CAD | 49.00 | CAD | 1,517 | (46,464) | |||||||||||||||||
Suncor Energy Inc. | 579 | 08/19/22 | CAD | 52.00 | CAD | 2,615 | (47,680) |
S C H E D U L E O F IN V E S T M E N T S | 37 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Energy and Resources Trust (BGR) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
TC Energy Corp. | 523 | 08/19/22 | CAD | 72.00 | CAD | 3,487 | $ | (21,128) | ||||||||||||||||
Tourmaline Oil Corp. | 210 | 08/19/22 | CAD | 74.00 | CAD | 1,406 | (40,949) | |||||||||||||||||
Valero Energy Corp. | 124 | 08/19/22 | USD | 125.00 | USD | 1,318 | (30,628) | |||||||||||||||||
Williams Cos., Inc. | 28 | 08/19/22 | USD | 38.00 | USD | 87 | (280) | |||||||||||||||||
Williams Cos., Inc. | 453 | 08/19/22 | USD | 32.00 | USD | 1,414 | (57,757) | |||||||||||||||||
Canadian Natural Resources Limited | 284 | 09/16/22 | CAD | 75.00 | CAD | 1,964 | (77,773) | |||||||||||||||||
Suncor Energy Inc. | 579 | 09/16/22 | CAD | 52.00 | CAD | 2,615 | (69,721) | |||||||||||||||||
TC Energy Corp. | 681 | 09/16/22 | CAD | 68.00 | CAD | 4,541 | (116,657) | |||||||||||||||||
$ | (1,863,761) | |||||||||||||||||||||||
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||
Call | ||||||||||||||||||||||||
Santos Ltd. | Morgan Stanley & Co. International PLC | 40,600 | 07/06/22 | AUD | 8.37 | AUD | 298 | $ | (43) | |||||||||||||||
Total SA | Morgan Stanley & Co. International PLC | 76,000 | 07/12/22 | EUR | 54.27 | EUR | 3,817 | (9,685) | ||||||||||||||||
Statoil ASA | Morgan Stanley & Co. International PLC | 46,200 | 07/13/22 | NOK | 371.42 | NOK | 15,857 | (11,538) | ||||||||||||||||
Total SA | Goldman Sachs International | 28,900 | 07/19/22 | EUR | 55.74 | EUR | 1,452 | (3,440) | ||||||||||||||||
Santos Ltd. | Morgan Stanley & Co. International PLC | 173,800 | 07/26/22 | AUD | 9.11 | AUD | 1,277 | (1,508) | ||||||||||||||||
Tenaris SA | Goldman Sachs International | 49,700 | 07/27/22 | EUR | 16.02 | EUR | 609 | (631) | ||||||||||||||||
Total SA | UBS AG | 16,500 | 07/27/22 | EUR | 57.38 | EUR | 829 | (2,256) | ||||||||||||||||
Tenaris SA | Goldman Sachs International | 68,800 | 08/02/22 | EUR | 15.14 | EUR | 843 | (2,528) | ||||||||||||||||
Repsol SA | Credit Suisse International | 110,500 | 08/09/22 | EUR | 14.41 | EUR | 1,554 | (64,012) | ||||||||||||||||
Repsol SA | Merrill Lynch International | 80,000 | 08/09/22 | EUR | 15.75 | EUR | 1,125 | (14,557) | ||||||||||||||||
Santos Ltd. | JPMorgan International Bank Ltd. | 170,700 | 08/09/22 | AUD | 7.90 | AUD | 1,254 | (20,064) | ||||||||||||||||
Total SA | JPMorgan International Bank Ltd. | 44,500 | 08/09/22 | EUR | 50.96 | EUR | 2,235 | (82,863) | ||||||||||||||||
Statoil ASA | Morgan Stanley & Co. International PLC | 7,500 | 08/11/22 | NOK | 369.60 | NOK | 2,574 | (7,029) | ||||||||||||||||
$ | (220,154) | |||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 3,473,668 | $ | (85,368 | ) | $ | (2,083,915) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 2,083,915 | $ | — | $ | — | $ | — | $ | 2,083,915 | ||||||||||||||
38 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Energy and Resources Trust (BGR) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | (22,929,880 | ) | $ | — | $ | — | $ | — | $ | (22,929,880 | ) | ||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 2,067,367 | $ | — | $ | — | $ | — | $ | 2,067,367 | ||||||||||||||
Options: | ||||
Average value of option contracts written | $ | 4,301,425 |
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 2,083,915 | ||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 2,083,915 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (1,863,761 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 220,154 | ||||
Counterparty | | Derivative Liabilities Subject to an MNA by Counterparty | | | Derivatives Available for Offset | | | Non-Cash Collateral Pledged | (a) | | Cash Collateral Pledged | | | Net Amount of Derivative Liabilities | (b) | |||||
Credit Suisse International | $ | 64,012 | $ | — | $ | — | $ | — | $ | 64,012 | ||||||||||
Goldman Sachs International | 6,599 | — | (6,599 | ) | — | — | ||||||||||||||
JPMorgan International Bank Ltd. | 102,927 | — | — | — | 102,927 | |||||||||||||||
Merrill Lynch International | 14,557 | — | — | — | 14,557 | |||||||||||||||
Morgan Stanley & Co. International PLC | 29,803 | — | (29,803 | ) | — | — | ||||||||||||||
UBS AG | 2,256 | — | (2,256 | ) | — | — | ||||||||||||||
$ | 220,154 | $ | — | $ | (38,658 | ) | $ | — | $ | 181,496 | ||||||||||
(a) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(b) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Statements of Assets and Liabilities. |
S C H E D U L E O F IN V E S T M E N T S | 39 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Energy and Resources Trust (BGR) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Energy Equipment & Services | $ | 9,057,993 | $ | 4,002,871 | $ | — | $ | 13,060,864 | ||||||||
Food Products | 1,520,355 | — | — | 1,520,355 | ||||||||||||
Metals & Mining | — | 1,877,608 | — | 1,877,608 | ||||||||||||
Oil, Gas & Consumable Fuels | 295,926,600 | 40,242,624 | 160 | 336,169,384 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 1,406,858 | — | — | 1,406,858 | ||||||||||||
$ | 307,911,806 | $ | 46,123,103 | $ | 160 | $ | 354,035,069 | |||||||||
Derivative Financial Instruments (a) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (1,584,089) | $ | (499,826) | $ | — | $ | (2,083,915) | ||||||||
(a) | Derivative financial instruments are options written. Options written are shown at value. |
40 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) June 30, 2022 | BlackRock Enhanced Capital and Income Fund, Inc. (CII) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Air Freight & Logistics — 1.3% | ||||||||
CH Robinson Worldwide, Inc. | 103,481 | $ | 10,489,869 | |||||
Automobiles — 1.5% | ||||||||
General Motors Co. (a) | 379,081 | 12,039,613 | ||||||
Banks — 2.9% | ||||||||
First Citizens BancShares, Inc., Class A | 16,390 | 10,715,454 | ||||||
JPMorgan Chase & Co. | 112,011 | 12,613,559 | ||||||
23,329,013 | ||||||||
Beverages — 1.6% | ||||||||
Monster Beverage Corp. (a) | 138,650 | 12,852,855 | ||||||
Capital Markets — 3.0% | ||||||||
Intercontinental Exchange, Inc. | 129,357 | 12,164,732 | ||||||
Morgan Stanley | 160,011 | 12,170,437 | ||||||
24,335,169 | ||||||||
Chemicals — 3.7% | ||||||||
Axalta Coating Systems Ltd. (a) | 319,365 | 7,061,160 | ||||||
Corteva, Inc. | 432,168 | 23,397,576 | ||||||
30,458,736 | ||||||||
Communications Equipment — 0.9% | ||||||||
Ciena Corp. (a) | 163,232 | 7,459,702 | ||||||
Construction & Engineering — 1.3% | ||||||||
Quanta Services, Inc. | 85,268 | 10,687,491 | ||||||
Consumer Finance — 0.8% | ||||||||
Capital One Financial Corp. | 66,550 | 6,933,845 | ||||||
Containers & Packaging — 1.4% | ||||||||
Sealed Air Corp. | 194,320 | 11,216,150 | ||||||
Diversified Financial Services — 2.6% | ||||||||
Berkshire Hathaway, Inc., Class B (a) | 76,398 | 20,858,182 | ||||||
Entertainment — 1.2% | ||||||||
World Wrestling Entertainment, Inc., Class A | 161,754 | 10,108,007 | ||||||
Food Products — 1.7% | ||||||||
Mondelez International, Inc., Class A | 224,520 | 13,940,447 | ||||||
Health Care Providers & Services — 8.7% | ||||||||
Elevance Health, Inc. (b) | 27,125 | 13,089,982 | ||||||
Humana, Inc. | 33,908 | 15,871,318 | ||||||
Laboratory Corp. of America Holdings | 71,215 | 16,689,947 | ||||||
UnitedHealth Group, Inc. | 48,393 | 24,856,097 | ||||||
70,507,344 | ||||||||
Health Care Technology — 0.7% | ||||||||
Veeva Systems, Inc., Class A (a) | 28,996 | 5,742,368 | ||||||
Hotels, Restaurants & Leisure — 0.7% | ||||||||
Las Vegas Sands Corp. (a) | 171,448 | 5,758,938 | ||||||
Insurance — 3.6% | ||||||||
Progressive Corp. | 138,920 | 16,152,228 | ||||||
Reinsurance Group of America, Inc. | 113,740 | 13,340,565 | ||||||
29,492,793 |
Security | Shares | Value | ||||||
Interactive Media & Services (a) — 6.9% | ||||||||
Alphabet, Inc., Class A (b) | 19,639 | $ | 42,798,487 | |||||
Meta Platforms, Inc., Class A | 85,039 | 13,712,539 | ||||||
56,511,026 | ||||||||
Internet & Direct Marketing Retail — 4.3% | ||||||||
Amazon.com, Inc. (a)(b) | 327,480 | 34,781,651 | ||||||
IT Services — 5.8% | ||||||||
Fidelity National Information Services, Inc. | 129,701 | 11,889,691 | ||||||
FleetCor Technologies, Inc. (a) | 64,982 | 13,653,368 | ||||||
Visa, Inc., Class A (b) | 110,910 | 21,837,070 | ||||||
47,380,129 | ||||||||
Life Sciences Tools & Services — 1.7% | ||||||||
Avantor, Inc. (a) | 444,900 | 13,836,390 | ||||||
Machinery — 4.7% | ||||||||
Caterpillar, Inc. | 81,880 | 14,636,869 | ||||||
Fortive Corp. | 229,273 | 12,467,866 | ||||||
Otis Worldwide Corp. | 158,447 | 11,197,449 | ||||||
38,302,184 | ||||||||
Media — 3.9% | ||||||||
Comcast Corp., Class A | 622,022 | 24,408,143 | ||||||
Fox Corp., Class A | 219,468 | 7,058,091 | ||||||
31,466,234 | ||||||||
Multiline Retail — 3.7% | ||||||||
Dollar General Corp. | 69,788 | 17,128,767 | ||||||
Dollar Tree, Inc. (a) | 83,172 | 12,962,356 | ||||||
30,091,123 | ||||||||
Oil, Gas & Consumable Fuels — 4.2% | ||||||||
ConocoPhillips (b) | 204,768 | 18,390,214 | ||||||
EQT Corp. | 451,907 | 15,545,601 | ||||||
33,935,815 | ||||||||
Personal Products — 1.2% | ||||||||
Unilever PLC, ADR | 218,168 | 9,998,639 | ||||||
Pharmaceuticals — 3.9% | ||||||||
Novo Nordisk A/S, ADR | 97,913 | 10,910,446 | ||||||
Sanofi, ADR | 414,482 | 20,736,534 | ||||||
31,646,980 | ||||||||
Real Estate Management & Development — 1.3% | ||||||||
CBRE Group, Inc., Class A (a) | 142,154 | 10,463,956 | ||||||
Road & Rail — 1.8% | ||||||||
Norfolk Southern Corp. | 64,100 | 14,569,289 | ||||||
Semiconductors & Semiconductor Equipment — 4.9% | ||||||||
Analog Devices, Inc. | 95,530 | 13,955,978 | ||||||
Applied Materials, Inc. | 119,880 | 10,906,682 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 179,060 | 14,638,155 | ||||||
39,500,815 | ||||||||
Software — 6.6% | ||||||||
Microsoft Corp. (b) | 210,311 | 54,014,174 | ||||||
Specialty Retail — 2.4% | ||||||||
Bath & Body Works, Inc. | 207,890 | 5,596,399 | ||||||
Ross Stores, Inc. | 195,398 | 13,722,801 | ||||||
19,319,200 |
S C H E D U L E O F IN V E S T M E N T S | 41 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Capital and Income Fund, Inc. (CII) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Technology Hardware, Storage & Peripherals — 4.5% | ||||||||
Apple, Inc. (b) | 269,018 | $ | 36,780,141 | |||||
Total Long-Term Investments — 99.4% (Cost: $619,870,762) | 808,808,268 | |||||||
Short-Term Securities | ||||||||
Money Market Funds — 1.1% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33% (c)(d) | 9,203,965 | 9,203,965 | ||||||
Total Short-Term Securities — 1.1% (Cost: $9,203,965) | 9,203,965 | |||||||
Total Investments Before Options Written — 100.5% (Cost: $629,074,727) | 818,012,233 | |||||||
Options Written — (1.0)% (Premiums Received: $(11,579,401)) | (8,671,931 | ) | ||||||
Total Investments, Net of Options Written — 99.5% (Cost: $617,495,326) | 809,340,302 | |||||||
Other Assets Less Liabilities — 0.5% | 4,260,591 | |||||||
Net Assets — 100.0% | $ | 813,600,893 | ||||||
(a) | Non-income producing security. |
(b) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(c) | Affiliate of the Trust. |
(d) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 10,297,753 | $ | — | $ | (1,093,788 | ) (a) | $ | — | $ | — | $ | 9,203,965 | 9,203,965 | $ | 21,813 | $ | — | ||||||||||||||||||
(a) | Represents net amount purchased (sold). |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call | ||||||||||||||||||||||||
Analog Devices, Inc. | 151 | 07/01/22 | USD | 175.00 | USD | 2,206 | $ | (11,325 | ) | |||||||||||||||
Anthem, Inc. | 72 | 07/01/22 | USD | 505.00 | USD | 3,475 | (14,400 | ) | ||||||||||||||||
Fox Corp., Class A | 220 | 07/01/22 | USD | 35.00 | USD | 708 | (5,500 | ) | ||||||||||||||||
UnitedHealth Group, Inc. | 118 | 07/01/22 | USD | 505.00 | USD | 6,061 | (116,525 | ) | ||||||||||||||||
Analog Devices, Inc. | 102 | 07/08/22 | USD | 165.00 | USD | 1,490 | (10,200 | ) | ||||||||||||||||
Anthem, Inc. | 23 | 07/08/22 | USD | 465.00 | USD | 1,110 | (46,345 | ) | ||||||||||||||||
Anthem, Inc. | 28 | 07/08/22 | USD | 477.50 | USD | 1,351 | (31,080 | ) | ||||||||||||||||
Dollar General Corp. | 177 | 07/08/22 | USD | 240.00 | USD | 4,344 | (130,095 | ) | ||||||||||||||||
Dollar Tree, Inc. | 153 | 07/08/22 | USD | 160.00 | USD | 2,385 | (22,261 | ) | ||||||||||||||||
Humana, Inc. | 107 | 07/08/22 | USD | 440.00 | USD | 5,008 | (309,230 | ) | ||||||||||||||||
Monster Beverage Corp. | 222 | 07/08/22 | USD | 92.00 | USD | 2,058 | (43,290 | ) | ||||||||||||||||
Norfolk Southern Corp. | 216 | 07/08/22 | USD | 255.00 | USD | 4,909 | (46,440 | ) | ||||||||||||||||
UnitedHealth Group, Inc. | 165 | 07/08/22 | USD | 515.00 | USD | 8,475 | (136,125 | ) | ||||||||||||||||
Alphabet Inc., Class A | 77 | 07/15/22 | USD | 2,425.00 | USD | 16,780 | (62,370 | ) | ||||||||||||||||
Amazon.com, Inc. | 240 | 07/15/22 | USD | 125.00 | USD | 2,549 | (4,320 | ) |
42 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Capital and Income Fund, Inc. (CII) |
Description | Number of Contracts | Expiration Date | Exercise Price | Amount Notional (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Amazon.com, Inc. | 180 | 07/15/22 | USD | 117.00 | USD | 1,912 | $ | (13,410 | ) | |||||||||||||||
Analog Devices, Inc. | 27 | 07/15/22 | USD | 152.50 | USD | 394 | (4,928 | ) | ||||||||||||||||
Anthem, Inc. | 24 | 07/15/22 | USD | 480.00 | USD | 1,158 | (30,120 | ) | ||||||||||||||||
Apple, Inc. | 57 | 07/15/22 | USD | 150.00 | USD | 779 | (1,881 | ) | ||||||||||||||||
Apple, Inc. | 110 | 07/15/22 | USD | 155.00 | USD | 1,504 | (1,375 | ) | ||||||||||||||||
Avantor, Inc. | 348 | 07/15/22 | USD | 31.25 | USD | 1,082 | (26,482 | ) | ||||||||||||||||
Axalta Coating Systems Ltd. | 423 | 07/15/22 | USD | 27.00 | USD | 935 | (16,920 | ) | ||||||||||||||||
C.H. Robinson Worldwide, Inc. | 103 | 07/15/22 | USD | 105.00 | USD | 1,044 | (11,845 | ) | ||||||||||||||||
Capital One Financial Corp. | 94 | 07/15/22 | USD | 120.00 | USD | 979 | (2,350 | ) | ||||||||||||||||
Caterpillar, Inc. | 136 | 07/15/22 | USD | 220.00 | USD | 2,431 | (1,156 | ) | ||||||||||||||||
CBRE Group, Inc., Class A | 430 | 07/15/22 | USD | 75.00 | USD | 3,165 | (58,050 | ) | ||||||||||||||||
Ciena Corp. | 230 | 07/15/22 | USD | 55.00 | USD | 1,051 | (1,150 | ) | ||||||||||||||||
Ciena Corp. | 275 | 07/15/22 | USD | 50.00 | USD | 1,257 | (4,813 | ) | ||||||||||||||||
Comcast Corp., Class A | 140 | 07/15/22 | USD | 40.00 | USD | 549 | (7,140 | ) | ||||||||||||||||
Dollar Tree, Inc. | 127 | 07/15/22 | USD | 175.00 | USD | 1,979 | (2,731 | ) | ||||||||||||||||
EQT Corp. | 806 | 07/15/22 | USD | 40.00 | USD | 2,773 | (32,240 | ) | ||||||||||||||||
Facebook, Inc., Class A | 91 | 07/15/22 | USD | 215.00 | USD | 1,467 | (910 | ) | ||||||||||||||||
Fidelity National Information Services, Inc. | 113 | 07/15/22 | USD | 110.00 | USD | 1,036 | (4,520 | ) | ||||||||||||||||
Fidelity National Information Services, Inc. | 307 | 07/15/22 | USD | 105.00 | USD | 2,814 | (9,210 | ) | ||||||||||||||||
First Citizens BancShares, Inc., Class A | 37 | 07/15/22 | USD | 690.00 | USD | 2,419 | (19,332 | ) | ||||||||||||||||
Fortive Corp. | 814 | 07/15/22 | USD | 58.50 | USD | 4,427 | (19,019 | ) | ||||||||||||||||
Fox Corp., Class A | 512 | 07/15/22 | USD | 36.00 | USD | 1,647 | (5,120 | ) | ||||||||||||||||
General Motors Co. | 294 | 07/15/22 | USD | 39.00 | USD | 934 | (1,176 | ) | ||||||||||||||||
Humana, Inc. | 108 | 07/15/22 | USD | 445.00 | USD | 5,055 | (295,380 | ) | ||||||||||||||||
Humana, Inc. | 3 | 07/15/22 | USD | 465.00 | USD | 140 | (4,395 | ) | ||||||||||||||||
Intercontinental Exchange, Inc. | 477 | 07/15/22 | USD | 105.00 | USD | 4,486 | (3,578 | ) | ||||||||||||||||
Laboratory Corp. of America Holdings | 197 | 07/15/22 | USD | 253.00 | USD | 4,617 | (13,932 | ) | ||||||||||||||||
Laboratory Corp. of America Holdings | 54 | 07/15/22 | USD | 250.00 | USD | 1,266 | (5,400 | ) | ||||||||||||||||
Las Vegas Sands Corp. | 406 | 07/15/22 | USD | 36.00 | USD | 1,364 | (32,277 | ) | ||||||||||||||||
Microsoft Corp. | 259 | 07/15/22 | USD | 280.00 | USD | 6,652 | (15,799 | ) | ||||||||||||||||
Monster Beverage Corp. | 108 | 07/15/22 | USD | 92.50 | USD | 1,001 | (26,190 | ) | ||||||||||||||||
Novo Nordisk A/S | 636 | 07/15/22 | USD | 105.00 | USD | 7,087 | (461,100 | ) | ||||||||||||||||
Otis Worldwide Corp. | 435 | 07/15/22 | USD | 73.05 | USD | 3,074 | (36,588 | ) | ||||||||||||||||
Progressive Corp. | 684 | 07/15/22 | USD | 115.00 | USD | 7,953 | (232,560 | ) | ||||||||||||||||
Quanta Services, Inc. | 306 | 07/15/22 | USD | 120.50 | USD | 3,835 | (216,156 | ) | ||||||||||||||||
Reinsurance Group of America, Inc. | 249 | 07/15/22 | USD | 125.00 | USD | 2,921 | (99,600 | ) | ||||||||||||||||
Ross Stores, Inc. | 22 | 07/15/22 | USD | 95.00 | USD | 155 | (110 | ) | ||||||||||||||||
Sanofi, ADR | 740 | 07/15/22 | USD | 55.00 | USD | 3,702 | (9,250 | ) | ||||||||||||||||
Sanofi, ADR | 165 | 07/15/22 | USD | 57.50 | USD | 825 | (12,375 | ) | ||||||||||||||||
Sealed Air Corp. | 241 | 07/15/22 | USD | 65.00 | USD | 1,391 | (4,820 | ) | ||||||||||||||||
Sealed Air Corp. | 232 | 07/15/22 | USD | 61.37 | USD | 1,339 | (8,879 | ) | ||||||||||||||||
Unilever PLC, ADR | 161 | 07/15/22 | USD | 48.00 | USD | 738 | (3,131 | ) | ||||||||||||||||
Unilever PLC, ADR | 57 | 07/15/22 | USD | 47.51 | USD | 261 | (1,601 | ) | ||||||||||||||||
Veeva Systems, Inc., Class A | 122 | 07/15/22 | USD | 190.00 | USD | 2,416 | (147,010 | ) | ||||||||||||||||
Visa, Inc., Class A | 149 | 07/15/22 | USD | 215.00 | USD | 2,934 | (6,482 | ) | ||||||||||||||||
Visa, Inc., Class A | 55 | 07/15/22 | USD | 202.50 | USD | 1,083 | (16,362 | ) | ||||||||||||||||
World Wrestling Entertainment, Inc., Class A | 420 | 07/15/22 | USD | 65.00 | USD | 2,625 | (39,900 | ) | ||||||||||||||||
Alphabet Inc., Class A | 10 | 07/22/22 | USD | 2,520.00 | USD | 2,179 | (7,500 | ) | ||||||||||||||||
Alphabet Inc., Class A | 40 | 07/22/22 | USD | 2,375.00 | USD | 8,717 | (92,800 | ) | ||||||||||||||||
Amazon.com, Inc. | 234 | 07/22/22 | USD | 120.00 | USD | 2,485 | (19,071 | ) | ||||||||||||||||
Analog Devices, Inc. | 102 | 07/22/22 | USD | 160.00 | USD | 1,490 | (8,415 | ) | ||||||||||||||||
Anthem, Inc. | 29 | 07/22/22 | USD | 485.00 | USD | 1,399 | (42,775 | ) | ||||||||||||||||
Apple, Inc. | 396 | 07/22/22 | USD | 155.00 | USD | 5,414 | (10,494 | ) | ||||||||||||||||
Capital One Financial Corp. | 94 | 07/22/22 | USD | 114.00 | USD | 979 | (13,160 | ) | ||||||||||||||||
Comcast Corp., Class A | 343 | 07/22/22 | USD | 44.00 | USD | 1,346 | (1,887 | ) | ||||||||||||||||
ConocoPhillips | 212 | 07/22/22 | USD | 127.00 | USD | 1,904 | (8,056 | ) | ||||||||||||||||
Dollar Tree, Inc. | 153 | 07/22/22 | USD | 165.00 | USD | 2,385 | (29,376 | ) | ||||||||||||||||
Facebook, Inc., Class A | 231 | 07/22/22 | USD | 180.00 | USD | 3,725 | (53,592 | ) | ||||||||||||||||
Humana, Inc. | 2 | 07/22/22 | USD | 475.00 | USD | 94 | (2,170 | ) | ||||||||||||||||
JPMorgan Chase & Co. | 121 | 07/22/22 | USD | 130.00 | USD | 1,363 | (1,089 | ) | ||||||||||||||||
Las Vegas Sands Corp. | 116 | 07/22/22 | USD | 34.00 | USD | 390 | (22,040 | ) | ||||||||||||||||
Microsoft Corp. | 336 | 07/22/22 | USD | 285.00 | USD | 8,629 | (25,200 | ) |
S C H E D U L E O F IN V E S T M E N T S | 43 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Capital and Income Fund, Inc. (CII) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Morgan Stanley | 436 | 07/22/22 | USD | 86.00 | USD | 3,316 | $ | (13,298 | ) | |||||||||||||||
Norfolk Southern Corp. | 110 | 07/22/22 | USD | 245.00 | USD | 2,500 | (16,225 | ) | ||||||||||||||||
UnitedHealth Group, Inc. | 31 | 07/22/22 | USD | 505.00 | USD | 1,592 | (69,130 | ) | ||||||||||||||||
Visa, Inc., Class A | 38 | 07/22/22 | USD | 225.00 | USD | 748 | (931 | ) | ||||||||||||||||
Visa, Inc., Class A | 38 | 07/22/22 | USD | 205.00 | USD | 748 | (12,046 | ) | ||||||||||||||||
EQT Corp. | 805 | 07/26/22 | USD | 39.50 | USD | 2,769 | (119,140 | ) | ||||||||||||||||
World Wrestling Entertainment, Inc., Class A | 368 | 07/28/22 | USD | 66.00 | USD | 2,300 | (52,794 | ) | ||||||||||||||||
Apple, Inc. | 109 | 07/29/22 | USD | 140.00 | USD | 1,490 | (49,867 | ) | ||||||||||||||||
Apple, Inc. | 103 | 07/29/22 | USD | 145.00 | USD | 1,408 | (27,552 | ) | ||||||||||||||||
Applied Materials, Inc. | 197 | 07/29/22 | USD | 108.00 | USD | 1,792 | (10,540 | ) | ||||||||||||||||
Berkshire Hathaway, Inc., Class B | 293 | 07/29/22 | USD | 280.00 | USD | 7,999 | (133,315 | ) | ||||||||||||||||
Ciena Corp. | 293 | 07/29/22 | USD | 53.00 | USD | 1,339 | (6,868 | ) | ||||||||||||||||
Comcast Corp., Class A | 625 | 07/29/22 | USD | 43.00 | USD | 2,453 | (26,250 | ) | ||||||||||||||||
ConocoPhillips | 373 | 07/29/22 | USD | 127.00 | USD | 3,350 | (12,309 | ) | ||||||||||||||||
ConocoPhillips | 186 | 07/29/22 | USD | 95.00 | USD | 1,670 | (49,290 | ) | ||||||||||||||||
Dollar General Corp. | 61 | 07/29/22 | USD | 250.00 | USD | 1,497 | (35,685 | ) | ||||||||||||||||
Fox Corp., Class A | 694 | 07/29/22 | USD | 34.00 | USD | 2,232 | (31,230 | ) | ||||||||||||||||
General Motors Co. | 322 | 07/29/22 | USD | 37.00 | USD | 1,023 | (11,270 | ) | ||||||||||||||||
JPMorgan Chase & Co. | 82 | 07/29/22 | USD | 125.00 | USD | 923 | (3,813 | ) | ||||||||||||||||
Microsoft Corp. | 181 | 07/29/22 | USD | 265.00 | USD | 4,649 | (137,560 | ) | ||||||||||||||||
Mondelez International, Inc., Class A | 204 | 07/29/22 | USD | 63.00 | USD | 1,267 | (27,540 | ) | ||||||||||||||||
Monster Beverage Corp. | 224 | 07/29/22 | USD | 94.00 | USD | 2,076 | (57,680 | ) | ||||||||||||||||
Morgan Stanley | 139 | 07/29/22 | USD | 77.00 | USD | 1,057 | (39,337 | ) | ||||||||||||||||
Ross Stores, Inc. | 187 | 07/29/22 | USD | 86.00 | USD | 1,313 | (19,635 | ) | ||||||||||||||||
Visa, Inc., Class A | 76 | 07/29/22 | USD | 210.00 | USD | 1,496 | (24,624 | ) | ||||||||||||||||
Analog Devices, Inc. | 76 | 08/05/22 | USD | 155.00 | USD | 1,110 | (22,800 | ) | ||||||||||||||||
Apple, Inc. | 318 | 08/05/22 | USD | 150.00 | USD | 4,348 | (61,692 | ) | ||||||||||||||||
Applied Materials, Inc. | 390 | 08/05/22 | USD | 103.00 | USD | 3,548 | (55,380 | ) | ||||||||||||||||
Bath & Body Works, Inc. | 230 | 08/05/22 | USD | 33.00 | USD | 619 | (7,475 | ) | ||||||||||||||||
Bath & Body Works, Inc. | 185 | 08/05/22 | USD | 32.00 | USD | 498 | (8,788 | ) | ||||||||||||||||
Berkshire Hathaway, Inc., Class B | 203 | 08/05/22 | USD | 280.00 | USD | 5,542 | (115,202 | ) | ||||||||||||||||
Capital One Financial Corp. | 244 | 08/05/22 | USD | 115.00 | USD | 2,542 | (50,020 | ) | ||||||||||||||||
Caterpillar, Inc. | 191 | 08/05/22 | USD | 195.00 | USD | 3,414 | (53,002 | ) | ||||||||||||||||
Comcast Corp., Class A | 659 | 08/05/22 | USD | 41.00 | USD | 2,586 | (51,072 | ) | ||||||||||||||||
Conocophillips | 559 | 08/05/22 | USD | 102.00 | USD | 5,020 | (76,024 | ) | ||||||||||||||||
Dollar General Corp. | 44 | 08/05/22 | USD | 260.00 | USD | 1,080 | (14,520 | ) | ||||||||||||||||
Dollar Tree, Inc. | 107 | 08/05/22 | USD | 170.00 | USD | 1,668 | (21,881 | ) | ||||||||||||||||
General Motors Co. | 710 | 08/05/22 | USD | 37.00 | USD | 2,255 | (31,595 | ) | ||||||||||||||||
JPMorgan Chase & Co. | 172 | 08/05/22 | USD | 121.00 | USD | 1,937 | (22,962 | ) | ||||||||||||||||
Las Vegas Sands Corp. | 406 | 08/05/22 | USD | 37.00 | USD | 1,364 | (55,825 | ) | ||||||||||||||||
Microsoft Corp. | 182 | 08/05/22 | USD | 265.00 | USD | 4,674 | (144,235 | ) | ||||||||||||||||
Mondelez International, Inc., Class A | 294 | 08/05/22 | USD | 63.00 | USD | 1,825 | (43,365 | ) | ||||||||||||||||
Norfolk Southern Corp. | 90 | 08/05/22 | USD | 240.00 | USD | 2,046 | (36,450 | ) | ||||||||||||||||
Ross Stores, Inc. | 108 | 08/05/22 | USD | 83.00 | USD | 758 | (4,590 | ) | ||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 15 | 08/05/22 | USD | 93.00 | USD | 123 | (893 | ) | ||||||||||||||||
Visa, Inc., Class A | 39 | 08/05/22 | USD | 210.00 | USD | 768 | (14,723 | ) | ||||||||||||||||
Visa, Inc., Class A | 48 | 08/05/22 | USD | 205.00 | USD | 945 | (26,160 | ) | ||||||||||||||||
Apple, Inc. | 218 | 08/12/22 | USD | 147.68 | USD | 2,980 | (64,576 | ) | ||||||||||||||||
Applied Materials, Inc. | 192 | 08/12/22 | USD | 104.73 | USD | 1,747 | (33,663 | ) | ||||||||||||||||
Comcast Corp., Class A | 303 | 08/12/22 | USD | 40.22 | USD | 1,189 | (36,688 | ) | ||||||||||||||||
Intercontinental Exchange, Inc. | 363 | 08/12/22 | USD | 101.00 | USD | 3,414 | (50,012 | ) | ||||||||||||||||
JPMorgan Chase & Co. | 181 | 08/12/22 | USD | 119.97 | USD | 2,038 | (33,894 | ) | ||||||||||||||||
Otis Worldwide Corp. | 430 | 08/12/22 | USD | 79.00 | USD | 3,039 | (21,349 | ) | ||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 235 | 08/12/22 | USD | 91.14 | USD | 1,921 | (25,383 | ) | ||||||||||||||||
Apple, Inc. | 334 | 08/19/22 | USD | 160.00 | USD | 4,566 | (29,058 | ) | ||||||||||||||||
Apple, Inc. | 103 | 08/19/22 | USD | 150.00 | USD | 1,408 | (25,492 | ) | ||||||||||||||||
Avantor, Inc. | 1,110 | 08/19/22 | USD | 32.50 | USD | 3,452 | (130,425 | ) | ||||||||||||||||
CBRE Group, Inc., Class A | 494 | 08/19/22 | USD | 72.21 | USD | 3,636 | (238,379 | ) | ||||||||||||||||
Ciena Corp. | 263 | 08/19/22 | USD | 50.00 | USD | 1,202 | (26,957 | ) | ||||||||||||||||
Comcast Corp., Class A | 417 | 08/19/22 | USD | 42.50 | USD | 1,636 | (24,603 | ) | ||||||||||||||||
Corteva, Inc. | 322 | 08/19/22 | USD | 60.00 | USD | 1,743 | (25,760 | ) | ||||||||||||||||
EQT Corp. | 197 | 08/19/22 | USD | 46.00 | USD | 678 | (12,805 | ) |
44 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Capital and Income Fund, Inc. (CII) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Facebook, Inc., Class A | 231 | 08/19/22 | USD | 195.00 | USD | 3,725 | $ | (90,667 | ) | |||||||||||||||
Fidelity National Information Services, Inc. | 116 | 08/19/22 | USD | 100.00 | USD | 1,063 | (23,490 | ) | ||||||||||||||||
Fidelity National Information Services, Inc. | 307 | 08/19/22 | USD | 105.00 | USD | 2,814 | (32,235 | ) | ||||||||||||||||
First Citizens BancShares, Inc., Class A | 28 | 08/19/22 | USD | 660.00 | USD | 1,831 | (95,200 | ) | ||||||||||||||||
FleetCor Technologies, Inc. | 422 | 08/19/22 | USD | 230.00 | USD | 8,867 | (202,560 | ) | ||||||||||||||||
Fortive Corp. | 676 | 08/19/22 | USD | 56.00 | USD | 3,676 | (128,868 | ) | ||||||||||||||||
General Motors Co. | 190 | 08/19/22 | USD | 37.00 | USD | 603 | (13,205 | ) | ||||||||||||||||
JPMorgan Chase & Co. | 172 | 08/19/22 | USD | 123.50 | USD | 1,937 | (23,050 | ) | ||||||||||||||||
Laboratory Corp. of America Holdings | 211 | 08/19/22 | USD | 230.00 | USD | 4,945 | (289,070 | ) | ||||||||||||||||
Las Vegas Sands Corp. | 186 | 08/19/22 | USD | 36.00 | USD | 625 | (38,874 | ) | ||||||||||||||||
Microsoft Corp. | 409 | 08/19/22 | USD | 270.00 | USD | 10,504 | (293,457 | ) | ||||||||||||||||
Mondelez International, Inc., Class A | 400 | 08/19/22 | USD | 65.00 | USD | 2,484 | (39,000 | ) | ||||||||||||||||
Morgan Stanley | 465 | 08/19/22 | USD | 80.00 | USD | 3,537 | (107,880 | ) | ||||||||||||||||
Otis Worldwide Corp. | 164 | 08/19/22 | USD | 72.18 | USD | 1,159 | (41,737 | ) | ||||||||||||||||
Progressive Corp. | 218 | 08/19/22 | USD | 115.00 | USD | 2,535 | (124,260 | ) | ||||||||||||||||
Quanta Services, Inc. | 292 | 08/19/22 | USD | 130.00 | USD | 3,660 | (173,740 | ) | ||||||||||||||||
Ross Stores, Inc. | 73 | 08/19/22 | USD | 85.00 | USD | 513 | (5,110 | ) | ||||||||||||||||
Sanofi, ADR | 752 | 08/19/22 | USD | 51.25 | USD | 3,762 | (112,944 | ) | ||||||||||||||||
Sealed Air Corp. | 786 | 08/19/22 | USD | 61.37 | USD | 4,537 | (112,064 | ) | ||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 108 | 08/19/22 | USD | 95.00 | USD | 883 | (7,452 | ) | ||||||||||||||||
Unilever PLC, ADR | 654 | 08/19/22 | USD | 45.00 | USD | 2,997 | (132,435 | ) | ||||||||||||||||
Veeva Systems, Inc., Class A | 66 | 08/19/22 | USD | 195.00 | USD | 1,307 | (97,680 | ) | ||||||||||||||||
World Wrestling Entertainment, Inc., Class A | 263 | 08/19/22 | USD | 65.00 | USD | 1,643 | (69,037 | ) | ||||||||||||||||
Corteva, Inc. | 1,406 | 09/16/22 | USD | 55.00 | USD | 7,612 | (421,800 | ) | ||||||||||||||||
$ | (8,657,326 | ) | ||||||||||||||||||||||
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
Axalta Coating Systems Ltd. | Barclays Bank PLC | 14,300 | 07/22/22 | USD | 24.20 | USD | 316 | $ | (3,538) | |||||||||||||||||||||
Axalta Coating Systems Ltd. | Goldman Sachs International | 71,100 | 08/19/22 | USD | 28.89 | USD | 1,572 | (11,067) | ||||||||||||||||||||||
$ | (14,605) | |||||||||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 4,642,455 | $ | (1,734,985 | ) | $ | (8,671,931 | ) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 8,671,931 | $ | — | $ | — | $ | — | $ | 8,671,931 | ||||||||||||||
S C H E D U L E O F IN V E S T M E N T S | 45 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Capital and Income Fund, Inc. (CII) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 21,229,943 | $ | — | $ | — | $ | — | $ | 21,229,943 | ||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 3,506,035 | $ | — | $ | — | $ | — | $ | 3,506,035 | ||||||||||||||
Options: | ||||
Average value of option contracts written | $ | 11,545,012 |
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 8,671,931 | ||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 8,671,931 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (8,657,326 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 14,605 | ||||
Counterparty | | Derivative Liabilities Subject to an MNA by Counterparty | | | Derivatives Available for Offset | | | Non-Cash Collateral Pledged | | | Cash Collateral Pledged | | | Net Amount of Derivative Liabilities | (a) | |||||
Barclays Bank PLC | $ | 3,538 | $ | — | $ | — | $ | — | $ | 3,538 | ||||||||||
Goldman Sachs International | 11,067 | — | — | — | 11,067 | |||||||||||||||
$ | 14,605 | $ | — | $ | — | $ | — | $ | 14,605 | |||||||||||
(a) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Statements of Assets and Liabilities. |
46 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Capital and Income Fund, Inc. (CII) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | $ | 808,808,268 | $ | — | $ | — | $ | 808,808,268 | ||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 9,203,965 | — | — | 9,203,965 | ||||||||||||
$ | 818,012,233 | $ | — | $ | — | $ | 818,012,233 | |||||||||
Derivative Financial Instruments (a) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (7,230,129 | ) | $ | (1,441,802 | ) | $ | — | $ | (8,671,931 | ) | |||||
(a) | Derivative financial instruments are options written. Options written are shown at value. |
S C H E D U L E O F IN V E S T M E N T S | 47 |
Schedule of Investments (unaudited) June 30, 2022 | BlackRock Enhanced Equity Dividend Trust (BDJ) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Aerospace & Defense — 3.1% | ||||||||
Airbus SE | 119,371 | $ | 11,675,661 | |||||
BAE Systems PLC | 2,527,475 | 25,588,142 | ||||||
Huntington Ingalls Industries, Inc. (a) | 66,700 | 14,528,594 | ||||||
51,792,397 | ||||||||
Auto Components — 0.6% | ||||||||
Lear Corp. (a) | 81,241 | 10,227,429 | ||||||
Automobiles — 2.0% | ||||||||
General Motors Co. (a)(b)(c) | 1,067,062 | 33,889,889 | ||||||
Banks (a) — 10.6% | ||||||||
Bank of America Corp. | 863,441 | 26,878,918 | ||||||
Citigroup, Inc. (b) | 972,863 | 44,741,970 | ||||||
First Citizens BancShares, Inc., Class A | 44,582 | 29,146,820 | ||||||
JPMorgan Chase & Co. | 242,028 | 27,254,773 | ||||||
Wells Fargo & Co. (b) | 1,287,552 | 50,433,412 | ||||||
178,455,893 | ||||||||
Beverages — 1.4% | ||||||||
Constellation Brands, Inc., Class A (a) | 100,759 | 23,482,893 | ||||||
Capital Markets (a) — 1.6% | ||||||||
Charles Schwab Corp. | 235,485 | 14,877,942 | ||||||
Raymond James Financial, Inc. | 145,689 | 13,026,054 | ||||||
27,903,996 | ||||||||
Chemicals (a) — 1.1% | ||||||||
Corteva, Inc. | — | — | ||||||
PPG Industries, Inc. | 156,624 | 17,908,388 | ||||||
17,908,388 | ||||||||
Communications Equipment — 2.4% | ||||||||
Cisco Systems, Inc. (a) | 963,064 | 41,065,049 | ||||||
Consumer Finance — 0.6% | ||||||||
Capital One Financial Corp. (a) | 91,389 | 9,521,820 | ||||||
Containers & Packaging — 1.1% | ||||||||
Sealed Air Corp. (a) | 319,545 | 18,444,137 | ||||||
Diversified Financial Services (a) — 1.1% | ||||||||
Apollo Global Management, Inc. | 264,444 | 12,820,245 | ||||||
Equitable Holdings, Inc. | 236,746 | 6,171,968 | ||||||
18,992,213 | ||||||||
Diversified Telecommunication Services — 2.0% | ||||||||
Verizon Communications, Inc. (a)(b) | 684,013 | 34,713,660 | ||||||
Electric Utilities (a) — 1.1% | ||||||||
American Electric Power Co., Inc. | 130,469 | 12,517,196 | ||||||
Edison International | 105,809 | 6,691,361 | ||||||
19,208,557 | ||||||||
Entertainment — 0.6% | ||||||||
Activision Blizzard, Inc. | 122,674 | 9,551,398 | ||||||
Food & Staples Retailing — 0.5% | ||||||||
Walmart, Inc. (a) | 68,270 | 8,300,267 | ||||||
Food Products — 0.5% | ||||||||
Mondelez International, Inc., Class A (a) | 140,499 | 8,723,583 | ||||||
Health Care Equipment & Supplies — 6.2% | ||||||||
Alcon, Inc. | 122,865 | 8,615,482 | ||||||
DENTSPLY SIRONA, Inc. (a) | 398,412 | 14,235,261 | ||||||
Koninklijke Philips NV | 976,640 | 20,947,488 |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
Medtronic PLC (a) | 438,234 | $ | 39,331,501 | |||||
Zimmer Biomet Holdings, Inc. (a) | 210,185 | 22,082,036 | ||||||
105,211,768 | ||||||||
Health Care Providers & Services (a) — 9.9% | ||||||||
AmerisourceBergen Corp. | 91,906 | 13,002,861 | ||||||
Cigna Corp. | 111,914 | 29,491,577 | ||||||
Elevance Health, Inc. | 97,605 | 47,102,221 | ||||||
Humana, Inc. | 93,828 | 43,918,072 | ||||||
Laboratory Corp. of America Holdings | 145,285 | 34,048,993 | ||||||
167,563,724 | ||||||||
Household Durables — 1.9% | ||||||||
Newell Brands, Inc. (a) | 842,181 | 16,035,126 | ||||||
Panasonic Holdings Corp. | 1,969,100 | 15,898,879 | ||||||
31,934,005 | ||||||||
Industrial Conglomerates — 1.4% | ||||||||
General Electric Co. (a) | 100,304 | 6,386,356 | ||||||
Siemens AG, Registered Shares | 165,312 | 16,993,494 | ||||||
23,379,850 | ||||||||
Insurance — 6.4% | ||||||||
Allstate Corp. (a) | 81,223 | 10,293,391 | ||||||
American International Group, Inc. (a) | 625,824 | 31,998,381 | ||||||
Fidelity National Financial, Inc. (a) | 515,981 | 19,070,658 | ||||||
MetLife, Inc. (a) | 79,586 | 4,997,205 | ||||||
Prudential PLC | 945,693 | 11,763,694 | ||||||
Willis Towers Watson PLC (a) | 153,685 | 30,335,882 | ||||||
108,459,211 | ||||||||
IT Services (a) — 6.3% | ||||||||
Cognizant Technology Solutions Corp., Class A | 451,681 | 30,483,951 | ||||||
Fidelity National Information Services, Inc. | 369,582 | 33,879,582 | ||||||
SS&C Technologies Holdings, Inc. | 460,206 | 26,724,162 | ||||||
Visa, Inc., Class A | 81,548 | 16,055,986 | ||||||
107,143,681 | ||||||||
Machinery — 1.0% | ||||||||
Komatsu Ltd. | 750,200 | 16,704,823 | ||||||
Media (a) — 2.7% | ||||||||
Comcast Corp., Class A | 728,217 | 28,575,235 | ||||||
Fox Corp., Class A | 552,557 | 17,770,233 | ||||||
46,345,468 | ||||||||
Multiline Retail — 1.4% | ||||||||
Dollar General Corp. (a) | 96,316 | 23,639,799 | ||||||
Multi-Utilities (a) — 2.0% | ||||||||
Public Service Enterprise Group, Inc. | 259,296 | 16,408,251 | ||||||
Sempra Energy | 119,531 | 17,961,923 | ||||||
34,370,174 | ||||||||
Oil, Gas & Consumable Fuels — 8.3% | ||||||||
BP PLC, ADR | 8,946,829 | 42,009,789 | ||||||
ConocoPhillips (a)(b) | 234,254 | 21,038,352 | ||||||
Enterprise Products Partners LP (a) | 1,644,702 | 40,081,387 | ||||||
EQT Corp. (a) | 624,923 | 21,497,351 | ||||||
Hess Corp. (a) | 149,016 | 15,786,755 | ||||||
140,413,634 | ||||||||
Personal Products — 2.0% | ||||||||
Unilever PLC, ADR (a) | 723,046 | 33,137,198 | ||||||
Pharmaceuticals — 6.3% | ||||||||
AstraZeneca PLC | 292,855 | 38,633,939 |
48 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Equity Dividend Trust (BDJ) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Pharmaceuticals (continued) | ||||||||
Bayer AG, Registered Shares | 524,286 | $ | 31,308,449 | |||||
Sanofi | 360,681 | 36,373,245 | ||||||
106,315,633 | ||||||||
Professional Services — 1.4% | ||||||||
Leidos Holdings, Inc. (a)(b) | 227,685 | 22,930,156 | ||||||
Road & Rail — 1.0% | ||||||||
Union Pacific Corp. (a) | 83,021 | 17,706,719 | ||||||
Semiconductors & Semiconductor Equipment — 0.5% | ||||||||
Analog Devices, Inc. (a) | 57,723 | 8,432,753 | ||||||
Software — 2.6% | ||||||||
CDK Global, Inc. | 395,139 | 21,641,763 | ||||||
Microsoft Corp. (a) | 85,822 | 22,041,664 | ||||||
43,683,427 | ||||||||
Specialty Retail — 1.3% | ||||||||
Ross Stores, Inc. (a) | 302,775 | 21,263,888 | ||||||
Technology Hardware, Storage & Peripherals — 0.8% | ||||||||
Samsung Electronics Co. Ltd., GDR, Registered Shares (d) | 12,124 | 13,200,300 | ||||||
Textiles, Apparel & Luxury Goods — 0.2% | ||||||||
Ralph Lauren Corp., Class A (a) | 47,393 | 4,248,782 | ||||||
Tobacco — 1.0% | ||||||||
Altria Group, Inc. (a) | 383,570 | 16,021,719 | ||||||
British American Tobacco PLC | 7,422 | 318,138 | ||||||
16,339,857 | ||||||||
Wireless Telecommunication Services — 1.0% | ||||||||
Rogers Communications, Inc., Class B | 346,658 | 16,611,145 | ||||||
Total Long-Term Investments — 95.9% (Cost: $1,464,188,211) | 1,621,217,564 | |||||||
Security | Shares | Value | ||||||
Short-Term Securities | ||||||||
Money Market Funds — 4.9% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33% (e)(f) | 82,052,911 | $ | 82,052,911 | |||||
Total Short-Term Securities — 4.9% (Cost: $82,052,911) | 82,052,911 | |||||||
Total Investments Before Options Written — 100.8% (Cost: $1,546,241,122) | 1,703,270,475 | |||||||
Options Written — (1.0)% (Premiums Received: $(21,753,162)) | (15,848,170 | ) | ||||||
Total Investments, Net of Options Written — 99.8% (Cost: $1,524,487,960) | 1,687,422,305 | |||||||
Other Assets Less Liabilities — 0.2% | 3,229,379 | |||||||
Net Assets — 100.0% | $ | 1,690,651,684 | ||||||
(a) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(b) | All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives. |
(c) | Non-income producing security. |
(d) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(e) | Affiliate of the Trust. |
(f) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 62,262,015 | $ | 19,790,896 | (a) | $ | — | $ | — | $ | — | $ | 82,052,911 | 82,052,911 | $ | 118,850 | $ | — | ||||||||||||||||||
SL Liquidity Series, LLC, Money Market Series (b) | — | 0 | (a) | — | — | — | — | — | 10 | (c) | — | |||||||||||||||||||||||||
$ | — | $ | — | $ | 82,052,911 | $ | 118,860 | $ | — | |||||||||||||||||||||||||||
(a) | Represents net amount purchased (sold). |
(b) | As of period end, the entity is no longer held. |
(c) | 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. |
S C H E D U L E O F IN V E S T M E N T S | 49 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Equity Dividend Trust (BDJ) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call | ||||||||||||||||||||||||
AmerisourceBergen Corp. | 257 | 07/01/22 | USD | 160.00 | USD | 3,636 | $ | (6,425 | ) | |||||||||||||||
Cigna Corp. | 69 | 07/01/22 | USD | 265.00 | USD | 1,818 | (11,213 | ) | ||||||||||||||||
Constellation Brands, Inc., Class A | 216 | 07/01/22 | USD | 250.00 | USD | 5,034 | (1,080 | ) | ||||||||||||||||
Fox Corp., Class A | 1,223 | 07/01/22 | USD | 35.00 | USD | 3,933 | (30,575 | ) | ||||||||||||||||
SS&C Technologies Holdings, Inc. | 738 | 07/01/22 | USD | 64.00 | USD | 4,286 | — | |||||||||||||||||
American International Group, Inc. | 625 | 07/08/22 | USD | 62.00 | USD | 3,196 | (134,375 | ) | ||||||||||||||||
Analog Devices, Inc. | 82 | 07/08/22 | USD | 165.00 | USD | 1,198 | (8,200 | ) | ||||||||||||||||
Anthem, Inc. | 84 | 07/08/22 | USD | 465.00 | USD | 4,054 | (169,260 | ) | ||||||||||||||||
Anthem, Inc. | 111 | 07/08/22 | USD | 477.50 | USD | 5,357 | (123,210 | ) | ||||||||||||||||
Cigna Corp. | 109 | 07/08/22 | USD | 260.00 | USD | 2,872 | (75,210 | ) | ||||||||||||||||
Dollar General Corp. | 119 | 07/08/22 | USD | 240.00 | USD | 2,921 | (87,465 | ) | ||||||||||||||||
Humana, Inc. | 112 | 07/08/22 | USD | 440.00 | USD | 5,242 | (323,680 | ) | ||||||||||||||||
PPG Industries, Inc. | 372 | 07/08/22 | USD | 130.00 | USD | 4,253 | (16,740 | ) | ||||||||||||||||
Ross Stores, Inc. | 114 | 07/08/22 | USD | 89.00 | USD | 801 | (7,980 | ) | ||||||||||||||||
Allstate Corp. | 148 | 07/15/22 | USD | 135.00 | USD | 1,876 | (3,700 | ) | ||||||||||||||||
Allstate Corp. | 149 | 07/15/22 | USD | 125.00 | USD | 1,888 | (55,130 | ) | ||||||||||||||||
American Electric Power Co., Inc. | 177 | 07/15/22 | USD | 100.00 | USD | 1,698 | (5,310 | ) | ||||||||||||||||
American International Group, Inc. | 429 | 07/15/22 | USD | 54.00 | USD | 2,193 | (19,305 | ) | ||||||||||||||||
AmerisourceBergen Corp. | 125 | 07/15/22 | USD | 150.00 | USD | 1,769 | (5,625 | ) | ||||||||||||||||
Analog Devices, Inc. | 154 | 07/15/22 | USD | 152.50 | USD | 2,250 | (28,105 | ) | ||||||||||||||||
Anthem, Inc. | 84 | 07/15/22 | USD | 480.00 | USD | 4,054 | (105,420 | ) | ||||||||||||||||
Apollo Global Management, Inc. | 239 | 07/15/22 | USD | 57.50 | USD | 1,159 | (7,170 | ) | ||||||||||||||||
Capital One Financial Corp. | 98 | 07/15/22 | USD | 120.00 | USD | 1,021 | (2,450 | ) | ||||||||||||||||
Charles Schwab Corp. | 540 | 07/15/22 | USD | 66.00 | USD | 3,412 | (48,600 | ) | ||||||||||||||||
Cigna Corp. | 274 | 07/15/22 | USD | 260.00 | USD | 7,220 | (245,230 | ) | ||||||||||||||||
Cigna Corp. | 166 | 07/15/22 | USD | 270.00 | USD | 4,374 | (67,230 | ) | ||||||||||||||||
Citigroup, Inc. | 861 | 07/15/22 | USD | 50.00 | USD | 3,960 | (24,108 | ) | ||||||||||||||||
Constellation Brands, Inc., Class A | 141 | 07/15/22 | USD | 255.00 | USD | 3,286 | (5,640 | ) | ||||||||||||||||
Dentsply Sirona, Inc. | 1,212 | 07/15/22 | USD | 40.00 | USD | 4,330 | (293,910 | ) | ||||||||||||||||
Edison International | 290 | 07/15/22 | USD | 65.00 | USD | 1,834 | (13,050 | ) | ||||||||||||||||
EQT Corp. | 201 | 07/15/22 | USD | 40.00 | USD | 691 | (8,040 | ) | ||||||||||||||||
Fidelity National Financial, Inc. | 1,418 | 07/15/22 | USD | 40.00 | USD | 5,241 | (17,725 | ) | ||||||||||||||||
Fidelity National Information Services, Inc. | 519 | 07/15/22 | USD | 110.00 | USD | 4,758 | (20,760 | ) | ||||||||||||||||
Fidelity National Information Services, Inc. | 170 | 07/15/22 | USD | 105.00 | USD | 1,558 | (5,100 | ) | ||||||||||||||||
First Citizens BancShares, Inc., Class A | 106 | 07/15/22 | USD | 690.00 | USD | 6,930 | (55,385 | ) | ||||||||||||||||
Fox Corp., Class A | 929 | 07/15/22 | USD | 36.00 | USD | 2,988 | (9,290 | ) | ||||||||||||||||
General Motors Co. | 1,287 | 07/15/22 | USD | 39.00 | USD | 4,088 | (5,148 | ) | ||||||||||||||||
Humana, Inc. | 112 | 07/15/22 | USD | 445.00 | USD | 5,242 | (306,320 | ) | ||||||||||||||||
Humana, Inc. | 145 | 07/15/22 | USD | 465.00 | USD | 6,787 | (212,425 | ) | ||||||||||||||||
Huntington Ingalls Industries, Inc. | 247 | 07/15/22 | USD | 210.00 | USD | 5,380 | (242,060 | ) | ||||||||||||||||
Laboratory Corp. of America Holdings | 342 | 07/15/22 | USD | 253.00 | USD | 8,015 | (24,186 | ) | ||||||||||||||||
Lear Corp. | 241 | 07/15/22 | USD | 142.00 | USD | 3,034 | (17,292 | ) | ||||||||||||||||
Leidos Holdings, Inc. | 362 | 07/15/22 | USD | 100.00 | USD | 3,646 | (95,025 | ) | ||||||||||||||||
Microsoft Corp. | 146 | 07/15/22 | USD | 280.00 | USD | 3,750 | (8,906 | ) | ||||||||||||||||
Newell Brands, Inc. | 1,180 | 07/15/22 | USD | 22.00 | USD | 2,247 | (11,800 | ) | ||||||||||||||||
Newell Brands, Inc. | 949 | 07/15/22 | USD | 23.00 | USD | 1,807 | (9,490 | ) | ||||||||||||||||
PPG Industries, Inc. | 175 | 07/15/22 | USD | 118.00 | USD | 2,001 | (35,875 | ) | ||||||||||||||||
PPG Industries, Inc. | 175 | 07/15/22 | USD | 120.00 | USD | 2,001 | (22,313 | ) | ||||||||||||||||
Public Service Enterprise Group, Inc. | 412 | 07/15/22 | USD | 60.00 | USD | 2,607 | (144,200 | ) | ||||||||||||||||
Ralph Lauren Corp., Class A | 131 | 07/15/22 | USD | 100.00 | USD | 1,174 | (6,878 | ) | ||||||||||||||||
Raymond James Financial, Inc. | 315 | 07/15/22 | USD | 100.00 | USD | 2,816 | (22,837 | ) | ||||||||||||||||
Rogers Communications Inc., Class B | 693 | 07/15/22 | CAD | 66.00 | CAD | 4,274 | (6,999 | ) | ||||||||||||||||
Ross Stores, Inc. | 248 | 07/15/22 | USD | 95.00 | USD | 1,742 | (1,240 | ) | ||||||||||||||||
Sealed Air Corp. | 633 | 07/15/22 | USD | 65.00 | USD | 3,654 | (12,660 | ) | ||||||||||||||||
Sealed Air Corp. | 147 | 07/15/22 | USD | 61.37 | USD | 848 | (5,626 | ) | ||||||||||||||||
Sempra Energy | 270 | 07/15/22 | USD | 165.00 | USD | 4,057 | (9,450 | ) | ||||||||||||||||
Sempra Energy | 270 | 07/15/22 | USD | 155.00 | USD | 4,057 | (22,950 | ) | ||||||||||||||||
SS&C Technologies Holdings, Inc. | 370 | 07/15/22 | USD | 70.00 | USD | 2,149 | (16,650 | ) | ||||||||||||||||
Unilever PLC, ADR | 1,051 | 07/15/22 | USD | 48.00 | USD | 4,817 | (20,438 | ) | ||||||||||||||||
Unilever PLC, ADR | 435 | 07/15/22 | USD | 47.51 | USD | 1,994 | (12,220 | ) |
50 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Equity Dividend Trust (BDJ) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Union Pacific Corp. | 221 | 07/15/22 | USD | 225.00 | USD | 4,713 | $ | (18,233) | ||||||||||||||||
Verizon Communications, Inc. | 819 | 07/15/22 | USD | 52.50 | USD | 4,156 | (13,923) | |||||||||||||||||
Verizon Communications, Inc. | 483 | 07/15/22 | USD | 50.50 | USD | 2,451 | (37,674) | |||||||||||||||||
Visa, Inc., Class A | 76 | 07/15/22 | USD | 215.00 | USD | 1,496 | (3,306) | |||||||||||||||||
Visa, Inc., Class A | 29 | 07/15/22 | USD | 202.50 | USD | 571 | (8,628) | |||||||||||||||||
Willis Towers Watson PLC | 322 | 07/15/22 | USD | 220.00 | USD | 6,356 | (83,720) | |||||||||||||||||
Zimmer Biomet Holdings, Inc. | 596 | 07/15/22 | USD | 115.00 | USD | 6,262 | (16,390) | |||||||||||||||||
American International Group, Inc. | 1,177 | 07/22/22 | USD | 59.00 | USD | 6,018 | (23,540) | |||||||||||||||||
Analog Devices, Inc. | 83 | 07/22/22 | USD | 160.00 | USD | 1,213 | (6,848) | |||||||||||||||||
Anthem, Inc. | 111 | 07/22/22 | USD | 485.00 | USD | 5,357 | (163,725) | |||||||||||||||||
Apollo Global Management, Inc. | 360 | 07/22/22 | USD | 56.00 | USD | 1,745 | (9,900) | |||||||||||||||||
Capital One Financial Corp. | 94 | 07/22/22 | USD | 114.00 | USD | 979 | (13,160) | |||||||||||||||||
Charles Schwab Corp. | 377 | 07/22/22 | USD | 70.00 | USD | 2,382 | (21,112) | |||||||||||||||||
Cisco Systems, Inc. | 696 | 07/22/22 | USD | 47.00 | USD | 2,968 | (4,176) | |||||||||||||||||
Cisco Systems, Inc. | 725 | 07/22/22 | USD | 45.00 | USD | 3,091 | (15,950) | |||||||||||||||||
Citigroup, Inc. | 632 | 07/22/22 | USD | 51.00 | USD | 2,907 | (18,328) | |||||||||||||||||
Comcast Corp., Class A | 328 | 07/22/22 | USD | 44.00 | USD | 1,287 | (1,804) | |||||||||||||||||
ConocoPhillips | 512 | 07/22/22 | USD | 127.00 | USD | 4,598 | (19,456) | |||||||||||||||||
Constellation Brands, Inc., Class A | 244 | 07/22/22 | USD | 240.00 | USD | 5,687 | (82,960) | |||||||||||||||||
Hess Corp. | 305 | 07/22/22 | USD | 136.00 | USD | 3,231 | (9,913) | |||||||||||||||||
Humana, Inc. | 147 | 07/22/22 | USD | 475.00 | USD | 6,881 | (159,495) | |||||||||||||||||
JPMorgan Chase & Co. | 385 | 07/22/22 | USD | 130.00 | USD | 4,335 | (3,465) | |||||||||||||||||
Medtronic PLC | 742 | 07/22/22 | USD | 99.00 | USD | 6,659 | (26,712) | |||||||||||||||||
MetLife, Inc. | 352 | 07/22/22 | USD | 65.00 | USD | 2,210 | (36,080) | |||||||||||||||||
Microsoft Corp. | 18 | 07/22/22 | USD | 285.00 | USD | 462 | (1,350) | |||||||||||||||||
Mondelez International, Inc., Class A | 382 | 07/22/22 | USD | 64.00 | USD | 2,372 | (21,010) | |||||||||||||||||
Verizon Communications, Inc. | 409 | 07/22/22 | USD | 51.00 | USD | 2,076 | (32,106) | |||||||||||||||||
Visa, Inc., Class A | 40 | 07/22/22 | USD | 225.00 | USD | 788 | (980) | |||||||||||||||||
Visa, Inc., Class A | 68 | 07/22/22 | USD | 205.00 | USD | 1,339 | (21,556) | |||||||||||||||||
Wells Fargo & Co. | 1,795 | 07/22/22 | USD | 47.00 | USD | 7,031 | (8,975) | |||||||||||||||||
EQT Corp. | 201 | 07/26/22 | USD | 39.50 | USD | 691 | (29,748) | |||||||||||||||||
American Electric Power Co., Inc. | 282 | 07/28/22 | USD | 93.00 | USD | 2,706 | (117,557) | |||||||||||||||||
Huntington Ingalls Industries, Inc. | 119 | 07/28/22 | USD | 211.00 | USD | 2,592 | (133,075) | |||||||||||||||||
Leidos Holdings, Inc. | 362 | 07/28/22 | USD | 100.00 | USD | 3,646 | (135,805) | |||||||||||||||||
American International Group, Inc. | 1,211 | 07/29/22 | USD | 55.00 | USD | 6,192 | (87,797) | |||||||||||||||||
AmerisourceBergen Corp. | 62 | 07/29/22 | USD | 150.00 | USD | 877 | (8,215) | |||||||||||||||||
AmerisourceBergen Corp. | 61 | 07/29/22 | USD | 155.00 | USD | 863 | (3,813) | |||||||||||||||||
Apollo Global Management, Inc. | 309 | 07/29/22 | USD | 55.00 | USD | 1,498 | (18,540) | |||||||||||||||||
Bank of America Corp. | 1,591 | 07/29/22 | USD | 35.00 | USD | 4,953 | (34,206) | |||||||||||||||||
Cisco Systems, Inc. | 1,537 | 07/29/22 | USD | 45.00 | USD | 6,554 | (52,258) | |||||||||||||||||
Citigroup, Inc. | 1,260 | 07/29/22 | USD | 48.00 | USD | 5,795 | (145,530) | |||||||||||||||||
Cognizant Technology Solutions Corp., Class A | 1,159 | 07/29/22 | USD | 69.08 | USD | 7,822 | (194,720) | |||||||||||||||||
Comcast Corp., Class A | 913 | 07/29/22 | USD | 43.00 | USD | 3,583 | (38,346) | |||||||||||||||||
ConocoPhillips | 276 | 07/29/22 | USD | 127.00 | USD | 2,479 | (9,108) | |||||||||||||||||
ConocoPhillips | 153 | 07/29/22 | USD | 95.00 | USD | 1,374 | (40,545) | |||||||||||||||||
Dollar General Corp. | 209 | 07/29/22 | USD | 250.00 | USD | 5,130 | (122,265) | |||||||||||||||||
Fox Corp., Class A | 887 | 07/29/22 | USD | 34.00 | USD | 2,853 | (39,915) | |||||||||||||||||
General Electric | 137 | 07/29/22 | USD | 69.00 | USD | 872 | (16,920) | |||||||||||||||||
General Motors Co. | 57 | 07/29/22 | USD | 37.00 | USD | 181 | (1,995) | |||||||||||||||||
JPMorgan Chase & Co. | 88 | 07/29/22 | USD | 125.00 | USD | 991 | (4,092) | |||||||||||||||||
Medtronic PLC | 218 | 07/29/22 | USD | 95.00 | USD | 1,957 | (12,426) | |||||||||||||||||
Medtronic PLC | 1,114 | 07/29/22 | USD | 90.00 | USD | 9,998 | (239,510) | |||||||||||||||||
MetLife, Inc. | 155 | 07/29/22 | USD | 63.00 | USD | 973 | (34,100) | |||||||||||||||||
Microsoft Corp. | 137 | 07/29/22 | USD | 265.00 | USD | 3,519 | (104,120) | |||||||||||||||||
Mondelez International, Inc., Class A | 272 | 07/29/22 | USD | 63.00 | USD | 1,689 | (36,720) | |||||||||||||||||
Ross Stores, Inc. | 323 | 07/29/22 | USD | 86.00 | USD | 2,268 | (33,915) | |||||||||||||||||
Union Pacific Corp. | 117 | 07/29/22 | USD | 220.00 | USD | 2,495 | (52,065) | |||||||||||||||||
Verizon Communications, Inc. | 406 | 07/29/22 | USD | 51.00 | USD | 2,060 | (37,149) | |||||||||||||||||
Visa, Inc., Class A | 132 | 07/29/22 | USD | 210.00 | USD | 2,599 | (42,768) | |||||||||||||||||
Wells Fargo & Co. | 145 | 07/29/22 | USD | 43.00 | USD | 568 | (6,960) | |||||||||||||||||
Wells Fargo & Co. | 1,812 | 07/29/22 | USD | 40.00 | USD | 7,098 | (260,022) | |||||||||||||||||
Altria Group, Inc. | 1,409 | 08/05/22 | USD | 46.00 | USD | 5,885 | (46,497) |
S C H E D U L E O F IN V E S T M E N T S | 51 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Equity Dividend Trust (BDJ) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Apollo Global Management, Inc. | 546 | 08/05/22 | USD | 51.00 | USD | 2,647 | $ | (99,645 | ) | |||||||||||||||
Bank of America Corp. | 865 | 08/05/22 | USD | 34.00 | USD | 2,693 | (38,925 | ) | ||||||||||||||||
Capital One Financial Corp. | 310 | 08/05/22 | USD | 115.00 | USD | 3,230 | (63,550 | ) | ||||||||||||||||
Cisco Systems, Inc. | 2,338 | 08/05/22 | USD | 46.00 | USD | 9,969 | (59,619 | ) | ||||||||||||||||
Citigroup, Inc. | 523 | 08/05/22 | USD | 51.00 | USD | 2,405 | (25,365 | ) | ||||||||||||||||
Comcast Corp., Class A | 966 | 08/05/22 | USD | 41.00 | USD | 3,791 | (74,865 | ) | ||||||||||||||||
Conocophillips | 71 | 08/05/22 | USD | 102.00 | USD | 638 | (9,656 | ) | ||||||||||||||||
Dollar General Corp. | 201 | 08/05/22 | USD | 260.00 | USD | 4,933 | (66,330 | ) | ||||||||||||||||
Enterprise Products Partners LP | 2,511 | 08/05/22 | USD | 25.00 | USD | 6,119 | (121,783 | ) | ||||||||||||||||
General Electric | 414 | 08/05/22 | USD | 69.00 | USD | 2,636 | (61,272 | ) | ||||||||||||||||
General Motors Co. | 1,983 | 08/05/22 | USD | 37.00 | USD | 6,298 | (88,243 | ) | ||||||||||||||||
Hess Corp. | 204 | 08/05/22 | USD | 114.00 | USD | 2,161 | (81,600 | ) | ||||||||||||||||
JPMorgan Chase & Co. | 254 | 08/05/22 | USD | 121.00 | USD | 2,860 | (33,909 | ) | ||||||||||||||||
Medtronic PLC | 336 | 08/05/22 | USD | 92.00 | USD | 3,016 | (85,680 | ) | ||||||||||||||||
Microsoft Corp. | 35 | 08/05/22 | USD | 270.00 | USD | 899 | (22,925 | ) | ||||||||||||||||
Ross Stores, Inc. | 511 | 08/05/22 | USD | 83.00 | USD | 3,589 | (21,718 | ) | ||||||||||||||||
SS&C Technologies Holdings, Inc. | 738 | 08/05/22 | USD | 65.25 | USD | 4,286 | (23,469 | ) | ||||||||||||||||
Union Pacific Corp. | 118 | 08/05/22 | USD | 220.00 | USD | 2,517 | (57,820 | ) | ||||||||||||||||
Verizon Communications, Inc. | 964 | 08/05/22 | USD | 52.00 | USD | 4,892 | (64,106 | ) | ||||||||||||||||
Visa, Inc., Class A | 68 | 08/05/22 | USD | 210.00 | USD | 1,339 | (25,670 | ) | ||||||||||||||||
Visa, Inc., Class A | 35 | 08/05/22 | USD | 205.00 | USD | 689 | (19,075 | ) | ||||||||||||||||
Walmart, Inc. | 375 | 08/05/22 | USD | 127.00 | USD | 4,559 | (58,500 | ) | ||||||||||||||||
Wells Fargo & Co. | 1,398 | 08/05/22 | USD | 43.00 | USD | 5,476 | (79,686 | ) | ||||||||||||||||
Bank of America Corp. | 1,252 | 08/12/22 | USD | 34.10 | USD | 3,897 | (66,127 | ) | ||||||||||||||||
Citigroup, Inc. | 1,286 | 08/12/22 | USD | 48.72 | USD | 5,914 | (150,070 | ) | ||||||||||||||||
Comcast Corp., Class A | 788 | 08/12/22 | USD | 40.22 | USD | 3,092 | (95,414 | ) | ||||||||||||||||
Enterprise Products Partners LP | 4,071 | 08/12/22 | USD | 25.30 | USD | 9,921 | (176,087 | ) | ||||||||||||||||
Hess Corp. | 310 | 08/12/22 | USD | 121.00 | USD | 3,284 | (95,325 | ) | ||||||||||||||||
JPMorgan Chase & Co. | 248 | 08/12/22 | USD | 119.97 | USD | 2,793 | (46,440 | ) | ||||||||||||||||
Microsoft Corp. | 87 | 08/12/22 | USD | 265.00 | USD | 2,234 | (76,995 | ) | ||||||||||||||||
Verizon Communications, Inc. | 422 | 08/12/22 | USD | 52.00 | USD | 2,142 | (30,806 | ) | ||||||||||||||||
Allstate Corp. | 149 | 08/19/22 | USD | 123.82 | USD | 1,888 | (100,756 | ) | ||||||||||||||||
Altria Group, Inc. | 700 | 08/19/22 | USD | 46.00 | USD | 2,924 | (34,546 | ) | ||||||||||||||||
American Electric Power Co., Inc. | 360 | 08/19/22 | USD | 106.25 | USD | 3,454 | (11,077 | ) | ||||||||||||||||
Bank of America Corp. | 1,040 | 08/19/22 | USD | 35.00 | USD | 3,238 | (43,680 | ) | ||||||||||||||||
Charles Schwab Corp. | 378 | 08/19/22 | USD | 67.50 | USD | 2,388 | (77,490 | ) | ||||||||||||||||
Citigroup, Inc. | 788 | 08/19/22 | USD | 50.00 | USD | 3,624 | (71,708 | ) | ||||||||||||||||
Cognizant Technology Solutions Corp., Class A | 339 | 08/19/22 | USD | 70.00 | USD | 2,288 | (74,580 | ) | ||||||||||||||||
Cognizant Technology Solutions Corp., Class A | 755 | 08/19/22 | USD | 73.00 | USD | 5,095 | (90,499 | ) | ||||||||||||||||
Comcast Corp., Class A | 1,010 | 08/19/22 | USD | 42.50 | USD | 3,963 | (59,590 | ) | ||||||||||||||||
ConocoPhillips | 276 | 08/19/22 | USD | 105.00 | USD | 2,479 | (43,574 | ) | ||||||||||||||||
Dentsply Sirona, Inc. | 980 | 08/19/22 | USD | 36.50 | USD | 3,502 | (184,094 | ) | ||||||||||||||||
Edison International | 291 | 08/19/22 | USD | 62.50 | USD | 1,840 | (76,387 | ) | ||||||||||||||||
Enterprise Products Partners LP | 2,463 | 08/19/22 | USD | 25.00 | USD | 6,002 | (142,854 | ) | ||||||||||||||||
EQT Corp. | 603 | 08/19/22 | USD | 46.00 | USD | 2,074 | (39,195 | ) | ||||||||||||||||
Equitable Holdings, Inc. | 866 | 08/19/22 | USD | 27.50 | USD | 2,258 | (70,137 | ) | ||||||||||||||||
Fidelity National Financial, Inc. | 1,418 | 08/19/22 | USD | 39.42 | USD | 5,241 | (108,707 | ) | ||||||||||||||||
Fidelity National Information Services, Inc. | 582 | 08/19/22 | USD | 100.00 | USD | 5,335 | (117,855 | ) | ||||||||||||||||
Fidelity National Information Services, Inc. | 170 | 08/19/22 | USD | 105.00 | USD | 1,558 | (17,850 | ) | ||||||||||||||||
First Citizens BancShares, Inc., Class A | 129 | 08/19/22 | USD | 660.00 | USD | 8,434 | (438,600 | ) | ||||||||||||||||
General Motors Co. | 941 | 08/19/22 | USD | 37.00 | USD | 2,989 | (65,399 | ) | ||||||||||||||||
JPMorgan Chase & Co. | 356 | 08/19/22 | USD | 123.50 | USD | 4,009 | (47,707 | ) | ||||||||||||||||
Laboratory Corp. of America Holdings | 199 | 08/19/22 | USD | 230.00 | USD | 4,664 | (272,630 | ) | ||||||||||||||||
Laboratory Corp. of America Holdings | 258 | 08/19/22 | USD | 240.00 | USD | 6,046 | (239,940 | ) | ||||||||||||||||
Leidos Holdings, Inc. | 474 | 08/19/22 | USD | 105.00 | USD | 4,774 | (149,310 | ) | ||||||||||||||||
Microsoft Corp. | 49 | 08/19/22 | USD | 270.00 | USD | 1,258 | (35,157 | ) | ||||||||||||||||
Mondelez International, Inc., Class A | 120 | 08/19/22 | USD | 65.00 | USD | 745 | (11,700 | ) | ||||||||||||||||
Newell Brands, Inc. | 1,132 | 08/19/22 | USD | 19.66 | USD | 2,155 | (107,946 | ) | ||||||||||||||||
PPG Industries, Inc. | 143 | 08/19/22 | USD | 135.00 | USD | 1,635 | (11,798 | ) | ||||||||||||||||
Public Service Enterprise Group, Inc. | 412 | 08/19/22 | USD | 60.00 | USD | 2,607 | (181,280 | ) | ||||||||||||||||
Ralph Lauren Corp., Class A | 129 | 08/19/22 | USD | 100.00 | USD | 1,156 | (36,120 | ) | ||||||||||||||||
Raymond James Financial, Inc. | 486 | 08/19/22 | USD | 95.00 | USD | 4,345 | (121,500 | ) |
52 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Equity Dividend Trust (BDJ) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Rogers Communications Inc., Class B | 700 | 08/19/22 | CAD | 62.00 | CAD | 4,318 | $ | (106,588 | ) | |||||||||||||||
Ross Stores, Inc. | 469 | 08/19/22 | USD | 85.00 | USD | 3,294 | (32,830 | ) | ||||||||||||||||
Sealed Air Corp. | 500 | 08/19/22 | USD | 61.37 | USD | 2,886 | (71,287 | ) | ||||||||||||||||
Sempra Energy | 117 | 08/19/22 | USD | 155.00 | USD | 1,758 | (38,025 | ) | ||||||||||||||||
SS&C Technologies Holdings, Inc. | 358 | 08/19/22 | USD | 60.50 | USD | 2,079 | (65,310 | ) | ||||||||||||||||
Unilever PLC, ADR | 2,490 | 08/19/22 | USD | 45.00 | USD | 11,412 | (504,225 | ) | ||||||||||||||||
Verizon Communications, Inc. | 259 | 08/19/22 | USD | 52.50 | USD | 1,314 | (17,742 | ) | ||||||||||||||||
Willis Towers Watson PLC | 274 | 08/19/22 | USD | 200.00 | USD | 5,408 | (213,720 | ) | ||||||||||||||||
Zimmer Biomet Holdings, Inc. | 560 | 08/19/22 | USD | 110.00 | USD | 5,883 | (184,800 | ) | ||||||||||||||||
Equitable Holdings, Inc. | 80 | 09/16/22 | USD | 30.00 | USD | 209 | (3,400 | ) | ||||||||||||||||
Newell Brands, Inc. | 948 | 09/16/22 | USD | 21.00 | USD | 1,805 | (63,990 | ) | ||||||||||||||||
Public Service Enterprise Group, Inc. | 412 | 09/16/22 | USD | 60.00 | USD | 2,607 | (193,640 | ) | ||||||||||||||||
$ | (12,939,759 | ) | ||||||||||||||||||||||
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
Alcon, Inc. | UBS AG | 33,400 | 07/06/22 | CHF | 73.37 | CHF | 2,236 | $ | (380 | ) | ||||||||||||||||||||
AstraZeneca PLC | Morgan Stanley & Co. International PLC | 107,700 | 07/06/22 | GBP | 106.27 | GBP | 11,672 | (371,060 | ) | |||||||||||||||||||||
Samsung Electronics Co. Ltd., Registered Shares, GDR | Goldman Sachs International | 4,500 | 07/06/22 | USD | 1,345.39 | USD | 4,899 | — | ||||||||||||||||||||||
BAE Systems PLC | Morgan Stanley & Co. International PLC | 32,700 | 07/12/22 | GBP | 7.87 | GBP | 272 | (18,512 | ) | |||||||||||||||||||||
Komatsu Ltd. | Goldman Sachs International | 271,200 | 07/12/22 | JPY | 3,260.07 | JPY | 819,352 | (11,440 | ) | |||||||||||||||||||||
Panasonic Corp. | Bank of America N.A. | 233,000 | 07/12/22 | JPY | 1,182.59 | JPY | 255,253 | (6,790 | ) | |||||||||||||||||||||
BP PLC | UBS AG | 1,527,100 | 07/13/22 | GBP | 4.39 | GBP | 5,890 | (7,308 | ) | |||||||||||||||||||||
Bayer AG, Registered Shares | Goldman Sachs International | 75,000 | 07/19/22 | EUR | 68.74 | EUR | 4,274 | (3,794 | ) | |||||||||||||||||||||
Koninklijke Philips Electronics NV | Goldman Sachs International | 59,100 | 07/19/22 | EUR | 24.26 | EUR | 1,210 | (2,554 | ) | |||||||||||||||||||||
Prudential PLC | Barclays Bank PLC | 235,700 | 07/19/22 | GBP | 10.70 | GBP | 2,409 | (57,222 | ) | |||||||||||||||||||||
BP PLC | Morgan Stanley & Co. International PLC | 1,534,600 | 07/21/22 | GBP | 4.69 | GBP | 5,919 | (3,947 | ) | |||||||||||||||||||||
Alcon, Inc. | UBS AG | 34,500 | 07/26/22 | CHF | 75.24 | CHF | 2,309 | (9,449 | ) | |||||||||||||||||||||
BAE Systems PLC | Morgan Stanley & Co. International PLC | 378,200 | 07/26/22 | GBP | 8.16 | GBP | 3,145 | (133,502 | ) | |||||||||||||||||||||
European Aeronautic Defence and Space Company | Barclays Bank PLC | 4,500 | 07/26/22 | EUR | 98.77 | EUR | 420 | (8,469 | ) | |||||||||||||||||||||
European Aeronautic Defence and Space Company | UBS AG | 25,950 | 07/26/22 | EUR | 112.65 | EUR | 2,422 | (4,357 | ) | |||||||||||||||||||||
Komatsu Ltd. | JPMorgan Chase Bank N.A. | 36,500 | 07/26/22 | JPY | 3,650.40 | JPY | 110,274 | (150 | ) | |||||||||||||||||||||
Panasonic Corp. | Morgan Stanley & Co. International PLC | 159,800 | 07/26/22 | JPY | 1,249.56 | JPY | 175,062 | (4,039 | ) | |||||||||||||||||||||
AstraZeneca PLC | Goldman Sachs International | 51,800 | 07/27/22 | GBP | 103.63 | GBP | 5,614 | (392,358 | ) | |||||||||||||||||||||
AstraZeneca PLC | Goldman Sachs International | 800 | 07/27/22 | GBP | 99.22 | GBP | 87 | (9,640 | ) | |||||||||||||||||||||
Bayer AG, Registered Shares | Credit Suisse International | 58,600 | 07/27/22 | EUR | 67.53 | EUR | 3,339 | (8,283 | ) | |||||||||||||||||||||
EQT Corp. | Barclays Bank PLC | 149,500 | 07/27/22 | USD | 43.95 | USD | 5,143 | (36,572 | ) | |||||||||||||||||||||
Willis Towers Watson PLC | Goldman Sachs International | 24,900 | 07/27/22 | USD | 211.25 | USD | 4,915 | (46,536 | ) | |||||||||||||||||||||
BP PLC | Goldman Sachs International | 384,400 | 07/28/22 | GBP | 4.52 | GBP | 1,483 | (5,644 | ) | |||||||||||||||||||||
Lear Corp. | Citibank N.A. | 28,200 | 07/28/22 | USD | 130.57 | USD | 3,550 | (122,685 | ) | |||||||||||||||||||||
BAE Systems PLC | Goldman Sachs International | 986,500 | 08/02/22 | GBP | 7.93 | GBP | 8,205 | (560,581 | ) | |||||||||||||||||||||
Komatsu Ltd. | Goldman Sachs International | 193,000 | 08/02/22 | JPY | 3,462.86 | JPY | 583,093 | (6,424 | ) | |||||||||||||||||||||
Koninklijke Philips Electronics NV | Goldman Sachs International | 237,600 | 08/02/22 | EUR | 24.59 | EUR | 4,863 | (26,435 | ) | |||||||||||||||||||||
Panasonic Corp. | UBS AG | 237,800 | 08/02/22 | JPY | 1,197.20 | JPY | 260,511 | (11,067 | ) | |||||||||||||||||||||
AstraZeneca PLC | Credit Suisse International | 800 | 08/03/22 | GBP | 99.13 | GBP | 87 | (10,246 | ) | |||||||||||||||||||||
Bayer AG, Registered Shares | Goldman Sachs International | 76,200 | 08/03/22 | EUR | 65.28 | EUR | 4,342 | (26,639 | ) | |||||||||||||||||||||
Newell Brands, Inc. | Goldman Sachs International | 42,200 | 08/05/22 | USD | 21.70 | USD | 803 | (7,872 | ) | |||||||||||||||||||||
European Aeronautic Defence and Space Company | Barclays Bank PLC | 4,500 | 08/09/22 | EUR | 98.77 | EUR | 420 | (12,851 | ) | |||||||||||||||||||||
European Aeronautic Defence and Space Company | JPMorgan Chase Bank N.A. | 21,300 | 08/09/22 | EUR | 101.38 | EUR | 1,988 | (41,970 | ) | |||||||||||||||||||||
European Aeronautic Defence and Space Company | JPMorgan Chase Bank N.A. | 9,400 | 08/09/22 | EUR | 97.55 | EUR | 877 | (30,413 | ) | |||||||||||||||||||||
Koninklijke Philips Electronics NV | Barclays Bank PLC | 140,100 | 08/09/22 | EUR | 20.70 | EUR | 2,867 | (162,069 | ) | |||||||||||||||||||||
Koninklijke Philips Electronics NV | JPMorgan Chase Bank N.A. | 44,700 | 08/09/22 | EUR | 20.63 | EUR | 915 | (54,270 | ) |
S C H E D U L E O F IN V E S T M E N T S | 53 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Equity Dividend Trust (BDJ) |
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||||
Panasonic Corp. | Goldman Sachs International | 348,600 | 08/09/22 | JPY | 1,140.69 | JPY | 381,893 | $ | (73,241 | ) | ||||||||||||||||||||
Prudential PLC | JPMorgan Chase Bank N.A. | 123,000 | 08/09/22 | GBP | 9.70 | GBP | 1,257 | (129,688 | ) | |||||||||||||||||||||
Sanofi | Credit Suisse International | 65,200 | 08/09/22 | EUR | 98.75 | EUR | 6,274 | (140,342 | ) | |||||||||||||||||||||
Sanofi | Goldman Sachs International | 79,100 | 08/09/22 | EUR | 98.21 | EUR | 7,612 | (187,068 | ) | |||||||||||||||||||||
Siemens AG, Registered Shares | JPMorgan Chase Bank N.A. | 82,100 | 08/09/22 | EUR | 105.27 | EUR | 8,053 | (162,544 | ) | |||||||||||||||||||||
$ | (2,908,411 | ) | ||||||||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 9,940,021 | $ | (4,035,029 | ) | $ (15,848,170 | ) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 15,848,170 | $ | — | $ | — | $ | — | $ | 15,848,170 | ||||||||||||||
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 5,531,647 | $ | — | $ | — | $ | — | $ | 5,531,647 | ||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 7,748,497 | $ | — | $ | — | $ | — | $ | 7,748,497 | ||||||||||||||
Options: | ||||
Average value of option contracts written | $ | 22,334,354 |
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 15,848,170 | ||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 15,848,170 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (12,939,759 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 2,908,411 | ||||
54 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Equity Dividend Trust (BDJ) |
Counterparty | Derivative Liabilities Subject to an MNA by Counterparty | Derivatives Available for Offset | Non-Cash Collateral Pledged | (a) | Cash Collateral Pledged | Net Amount of Derivative Liabilities | ||||||||||||||
Bank of America N.A. | $ | 6,790 | $ | — | $ | (6,790 | ) | $ | — | $ | — | |||||||||
Barclays Bank PLC | 277,183 | — | (277,183 | ) | — | — | ||||||||||||||
Citibank N.A. | 122,685 | — | (122,685 | ) | — | — | ||||||||||||||
Credit Suisse International | 158,871 | — | (158,871 | ) | — | — | ||||||||||||||
Goldman Sachs International | 1,360,226 | — | (1,360,226 | ) | — | — | ||||||||||||||
JPMorgan Chase Bank N.A. | 419,035 | — | (419,035 | ) | — | — | ||||||||||||||
Morgan Stanley & Co. International PLC | 531,060 | — | (531,060 | ) | — | — | ||||||||||||||
UBS AG | 32,561 | — | (32,561 | ) | — | — | ||||||||||||||
$ | 2,908,411 | $ | — | $ | (2,908,411 | ) | $ | — | $ | — | ||||||||||
(a) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Aerospace & Defense | $ | 14,528,594 | $ | 37,263,803 | $ | — | $ | 51,792,397 | ||||||||
Auto Components | 10,227,429 | — | — | 10,227,429 | ||||||||||||
Automobiles | 33,889,889 | — | — | 33,889,889 | ||||||||||||
Banks | 178,455,893 | — | — | 178,455,893 | ||||||||||||
Beverages | 23,482,893 | — | — | 23,482,893 | ||||||||||||
Capital Markets | 27,903,996 | — | — | 27,903,996 | ||||||||||||
Chemicals | 17,908,388 | — | — | 17,908,388 | ||||||||||||
Communications Equipment | 41,065,049 | — | — | 41,065,049 | ||||||||||||
Consumer Finance | 9,521,820 | — | — | 9,521,820 | ||||||||||||
Containers & Packaging | 18,444,137 | — | — | 18,444,137 | ||||||||||||
Diversified Financial Services | 18,992,213 | — | — | 18,992,213 | ||||||||||||
Diversified Telecommunication Services | 34,713,660 | — | — | 34,713,660 | ||||||||||||
Electric Utilities | 19,208,557 | — | — | 19,208,557 | ||||||||||||
Entertainment | 9,551,398 | — | — | 9,551,398 | ||||||||||||
Food & Staples Retailing | 8,300,267 | — | — | 8,300,267 | ||||||||||||
Food Products | 8,723,583 | — | — | 8,723,583 | ||||||||||||
Health Care Equipment & Supplies | 75,648,798 | 29,562,970 | — | 105,211,768 | ||||||||||||
Health Care Providers & Services | 167,563,724 | — | — | 167,563,724 | ||||||||||||
Household Durables | 16,035,126 | 15,898,879 | — | 31,934,005 | ||||||||||||
Industrial Conglomerates | 6,386,356 | 16,993,494 | — | 23,379,850 | ||||||||||||
Insurance | 96,695,517 | 11,763,694 | — | 108,459,211 | ||||||||||||
IT Services | 107,143,681 | — | — | 107,143,681 | ||||||||||||
Machinery | — | 16,704,823 | — | 16,704,823 | ||||||||||||
Media | 46,345,468 | — | — | 46,345,468 | ||||||||||||
Multiline Retail | 23,639,799 | — | — | 23,639,799 | ||||||||||||
Multi-Utilities | 34,370,174 | — | — | 34,370,174 | ||||||||||||
Oil, Gas & Consumable Fuels | 98,403,845 | 42,009,789 | — | 140,413,634 | ||||||||||||
Personal Products | 33,137,198 | — | — | 33,137,198 | ||||||||||||
Pharmaceuticals | — | 106,315,633 | — | 106,315,633 | ||||||||||||
Professional Services | 22,930,156 | — | — | 22,930,156 | ||||||||||||
Road & Rail | 17,706,719 | — | — | 17,706,719 | ||||||||||||
Semiconductors & Semiconductor Equipment | 8,432,753 | — | — | 8,432,753 |
S C H E D U L E O F IN V E S T M E N T S | 55 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Equity Dividend Trust (BDJ) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks (continued) | ||||||||||||||||
Software | $ | 43,683,427 | $ | — | $ | — | $ | 43,683,427 | ||||||||
Specialty Retail | 21,263,888 | — | — | 21,263,888 | ||||||||||||
Technology Hardware, Storage & Peripherals | — | 13,200,300 | — | 13,200,300 | ||||||||||||
Textiles, Apparel & Luxury Goods | 4,248,782 | — | — | 4,248,782 | ||||||||||||
Tobacco | 16,021,719 | 318,138 | — | 16,339,857 | ||||||||||||
Wireless Telecommunication Services | 16,611,145 | — | — | 16,611,145 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 82,052,911 | — | — | 82,052,911 | ||||||||||||
$ | 1,413,238,952 | $ | 290,031,523 | $ | — | $ | 1,703,270,475 | |||||||||
Derivative Financial Instruments (a) | ||||||||||||||||
Equity Contracts | $ | — | $ | — | $ | — | $ | — | ||||||||
Liabilities | ||||||||||||||||
Equity Contracts | (10,799,419 | ) | (5,048,751 | ) | — | (15,848,170 | ) | |||||||||
$ | (10,799,419 | ) | $ | (5,048,751 | ) | $ | — | $ | (15,848,170 | ) | ||||||
(a) | Derivative financial instruments are options written. Options written are shown at value. |
56 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) June 30, 2022 | BlackRock Enhanced Global Dividend Trust (BOE) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Canada — 2.5% | ||||||||
TELUS Corp. | 792,734 | $ | 17,656,684 | |||||
Denmark — 3.2% | ||||||||
Novo Nordisk A/S, Class B | 202,994 | 22,512,503 | ||||||
France — 10.6% | ||||||||
EssilorLuxottica SA | 97,410 | 14,768,581 | ||||||
Kering SA | 23,649 | 12,255,546 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 14,424 | 8,840,146 | ||||||
Sanofi | 257,118 | 25,929,328 | ||||||
Schneider Electric SE | 113,557 | 13,530,938 | ||||||
75,324,539 | ||||||||
India — 0.1% | ||||||||
Jasper Infotech Private Ltd., Series I, (Acquired 08/31/18, Cost: $2,637,143) (a)(b) | 566,400 | 718,671 | ||||||
Indonesia — 1.1% | ||||||||
Bank Rakyat Indonesia Persero Tbk PT | 28,868,800 | 8,062,061 | ||||||
Ireland — 2.4% | ||||||||
Medtronic PLC (c) | 190,383 | 17,086,874 | ||||||
Japan — 1.6% | ||||||||
KDDI Corp. | 352,200 | 11,106,402 | ||||||
Mexico — 1.2% | ||||||||
Wal-Mart de Mexico SAB de CV | 2,393,573 | 8,252,140 | ||||||
Netherlands — 1.8% | ||||||||
Koninklijke KPN NV | 3,506,894 | 12,477,980 | ||||||
Portugal — 2.6% | ||||||||
EDP - Energias de Portugal SA | 3,958,327 | 18,447,115 | ||||||
Singapore — 1.1% | ||||||||
DBS Group Holdings Ltd. | 358,668 | 7,674,560 | ||||||
Sweden — 1.7% | ||||||||
Epiroc AB, Class A | 779,483 | 12,085,933 | ||||||
Switzerland — 3.7% | ||||||||
TE Connectivity Ltd. (c) | 98,615 | 11,158,287 | ||||||
Zurich Insurance Group AG | 33,939 | 14,799,892 | ||||||
25,958,179 | ||||||||
Taiwan — 3.9% | ||||||||
MediaTek, Inc. | 426,000 | 9,351,203 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 1,157,000 | 18,542,481 | ||||||
27,893,684 | ||||||||
United Kingdom — 18.9% | ||||||||
AstraZeneca PLC | 175,406 | 23,139,863 | ||||||
BAE Systems PLC | 803,638 | 8,136,026 | ||||||
Diageo PLC | 401,623 | 17,347,182 | ||||||
Ferguson PLC | 125,838 | 14,096,686 | ||||||
Prudential PLC | 1,402,887 | 17,450,836 | ||||||
Reckitt Benckiser Group PLC | 290,368 | 21,839,238 | ||||||
RELX PLC | 828,206 | 22,397,128 | ||||||
Taylor Wimpey PLC | 7,095,555 | 10,107,191 | ||||||
134,514,150 |
Security | Shares | Value | ||||||
United States — 44.4% | ||||||||
AbbVie, Inc. (c)(d) | 125,721 | $ | 19,255,429 | |||||
Assurant, Inc. (c) | 89,581 | 15,484,076 | ||||||
Baker Hughes Co., Class A (c) | 223,619 | 6,455,881 | ||||||
Chevron Corp. | 48,789 | 7,063,671 | ||||||
Citizens Financial Group, Inc. (c) | 399,761 | 14,267,470 | ||||||
Comcast Corp., Class A (c) | 425,427 | 16,693,755 | ||||||
Estee Lauder Cos., Inc., Class A (c)(d) | 67,639 | 17,225,624 | ||||||
Fidelity National Information Services, Inc. (c)(d) | 198,913 | 18,234,355 | ||||||
Hasbro, Inc. (c) | 212,496 | 17,399,172 | ||||||
Intercontinental Exchange, Inc. (c)(d) | 185,314 | 17,426,929 | ||||||
International Flavors & Fragrances, Inc. (c) | 58,211 | 6,934,094 | ||||||
Intuit, Inc. (c) | 30,027 | 11,573,607 | ||||||
M&T Bank Corp. (c) | 107,735 | 17,171,882 | ||||||
Microsoft Corp. (c)(d) | 102,626 | 26,357,436 | ||||||
Otis Worldwide Corp. (c) | 209,445 | 14,801,478 | ||||||
Paychex, Inc. (c) | 68,032 | 7,746,804 | ||||||
Philip Morris International, Inc. (c) | 149,803 | 14,791,548 | ||||||
Synchrony Financial (c) | 431,346 | 11,913,777 | ||||||
Texas Instruments, Inc. (c) | 65,523 | 10,067,609 | ||||||
UnitedHealth Group, Inc. (c) | 39,152 | 20,109,642 | ||||||
Visa, Inc., Class A (c) | 85,368 | 16,808,105 | ||||||
Williams Cos., Inc. (c) | 245,901 | 7,674,570 | ||||||
315,456,914 | ||||||||
Total Long-Term Investments — 100.8% (Cost: $697,252,623) | 715,228,389 | |||||||
Short-Term Securities | ||||||||
Money Market Funds — 0.3% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33% (e)(f) | 2,371,617 | 2,371,617 | ||||||
Total Short-Term Securities — 0.3% (Cost: $2,371,617) | 2,371,617 | |||||||
Total Investments Before Options Written — 101.1% (Cost: $699,624,240) | 717,600,006 | |||||||
Options Written — (0.9)% (Premiums Received: $(7,763,333)) | (6,470,808 | ) | ||||||
Total Investments, Net of Options Written —100.2% (Cost: $691,860,907) | 711,129,198 | |||||||
Liabilities in Excess of Other Assets — (0.2)% | (1,290,172 | ) | ||||||
Net Assets — 100.0% | $ | 709,839,026 | ||||||
(a) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(b) | Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $718,671, representing 0.1% of its net assets as of period end, and an original cost of $2,637,143. |
(c) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(d) | All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives. |
(e) | Affiliate of the Trust. |
(f) | Annualized 7-day yield as of period end. |
S C H E D U L E O F IN V E S T M E N T S | 57 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Global Dividend Trust (BOE) |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 11,262,594 | $ | — | $ | (8,890,977 | ) (a) | $ | — | $ | — | $ | 2,371,617 | 2,371,617 | $ | 10,303 | $ | — | ||||||||||||||||||
(a) | Represents net amount purchased (sold). |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||
UnitedHealth Group, Inc. | 45 | 07/01/22 | USD | 505.00 | USD | 2,311 | $ | (44,437 | ) | |||||||||||||||||||
AbbVie, Inc. | 268 | 07/08/22 | USD | 150.00 | USD | 4,105 | (123,280 | ) | ||||||||||||||||||||
Intuit, Inc. | 14 | 07/08/22 | USD | 405.00 | USD | 540 | (3,675 | ) | ||||||||||||||||||||
AbbVie, Inc. | 126 | 07/15/22 | USD | 145.00 | USD | 1,930 | (114,660 | ) | ||||||||||||||||||||
Assurant, Inc. | 145 | 07/15/22 | USD | 190.00 | USD | 2,506 | (69,600 | ) | ||||||||||||||||||||
Baker Hughes Co., Class A | 506 | 07/15/22 | USD | 38.00 | USD | 1,461 | (5,060 | ) | ||||||||||||||||||||
Citizens Financial Group, Inc. | 663 | 07/15/22 | USD | 42.50 | USD | 2,366 | (9,945 | ) | ||||||||||||||||||||
Estee Lauder Cos., Inc., Class A | 168 | 07/15/22 | USD | 260.00 | USD | 4,278 | (91,560 | ) | ||||||||||||||||||||
Fidelity National Information Services, Inc. | 68 | 07/15/22 | USD | 110.00 | USD | 623 | (2,721 | ) | ||||||||||||||||||||
Fidelity National Information Services, Inc. | 307 | 07/15/22 | USD | 105.00 | USD | 2,814 | (9,210 | ) | ||||||||||||||||||||
Hasbro, Inc. | 312 | 07/15/22 | USD | 92.50 | USD | 2,555 | (7,800 | ) | ||||||||||||||||||||
Hasbro, Inc. | 165 | 07/15/22 | USD | 85.00 | USD | 1,351 | (14,025 | ) | ||||||||||||||||||||
Intercontinental Exchange, Inc. | 196 | 07/15/22 | USD | 105.00 | USD | 1,843 | (1,470 | ) | ||||||||||||||||||||
International Flavors & Fragrances, Inc. | 130 | 07/15/22 | USD | 120.00 | USD | 1,549 | (34,125 | ) | ||||||||||||||||||||
Intuit, Inc. | 61 | 07/15/22 | USD | 420.00 | USD | 2,351 | (14,640 | ) | ||||||||||||||||||||
M&T Bank Corp. | 86 | 07/15/22 | USD | 180.00 | USD | 1,371 | (2,150 | ) | ||||||||||||||||||||
M&T Bank Corp. | 117 | 07/15/22 | USD | 175.00 | USD | 1,865 | (4,973 | ) | ||||||||||||||||||||
Microsoft Corp. | 223 | 07/15/22 | USD | 280.00 | USD | 5,727 | (13,603 | ) | ||||||||||||||||||||
Otis Worldwide Corp. | 711 | 07/15/22 | USD | 73.05 | USD | 5,025 | (59,802 | ) | ||||||||||||||||||||
Paychex, Inc. | 374 | 07/15/22 | USD | 120.00 | USD | 4,259 | (24,310 | ) | ||||||||||||||||||||
Philip Morris International, Inc. | 359 | 07/15/22 | USD | 104.00 | USD | 3,545 | (11,668 | ) | ||||||||||||||||||||
Synchrony Financial | 652 | 07/15/22 | USD | 38.00 | USD | 1,801 | (3,260 | ) | ||||||||||||||||||||
TE Connectivity Ltd. | 241 | 07/15/22 | USD | 130.00 | USD | 2,727 | (77,120 | ) | ||||||||||||||||||||
UnitedHealth Group, Inc. | 32 | 07/15/22 | USD | 480.00 | USD | 1,644 | (120,080 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 2 | 07/15/22 | USD | 215.00 | USD | 39 | (87 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 153 | 07/15/22 | USD | 202.50 | USD | 3,012 | (45,517 | ) | ||||||||||||||||||||
Williams Cos., Inc. | 234 | 07/15/22 | USD | 32.00 | USD | 730 | (12,285 | ) | ||||||||||||||||||||
AbbVie, Inc. | 268 | 07/22/22 | USD | 150.00 | USD | 4,105 | (148,740 | ) | ||||||||||||||||||||
Comcast Corp., Class A | 171 | 07/22/22 | USD | 44.00 | USD | 671 | (941 | ) | ||||||||||||||||||||
Intuit, Inc. | 60 | 07/22/22 | USD | 390.00 | USD | 2,313 | (84,300 | ) | ||||||||||||||||||||
Microsoft Corp. | 114 | 07/22/22 | USD | 285.00 | USD | 2,928 | (8,550 | ) | ||||||||||||||||||||
UnitedHealth Group, Inc. | 99 | 07/22/22 | USD | 505.00 | USD | 5,085 | (220,770 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 33 | 07/22/22 | USD | 225.00 | USD | 650 | (809 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 41 | 07/22/22 | USD | 205.00 | USD | 807 | (12,997 | ) | ||||||||||||||||||||
Comcast Corp., Class A | 377 | 07/29/22 | USD | 43.00 | USD | 1,479 | (15,834 | ) | ||||||||||||||||||||
Medtronic PLC | 52 | 07/29/22 | USD | 90.00 | USD | 467 | (11,180 | ) | ||||||||||||||||||||
Microsoft Corp. | 18 | 07/29/22 | USD | 265.00 | USD | 462 | (13,680 | ) | ||||||||||||||||||||
Synchrony Financial | 717 | 07/29/22 | USD | 33.00 | USD | 1,980 | (21,510 | ) | ||||||||||||||||||||
Texas Instruments, Inc. | 147 | 07/29/22 | USD | 165.00 | USD | 2,259 | (26,386 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 82 | 07/29/22 | USD | 210.00 | USD | 1,614 | (26,568 | ) | ||||||||||||||||||||
Comcast Corp., Class A | 444 | 08/05/22 | USD | 41.00 | USD | 1,742 | (34,410 | ) | ||||||||||||||||||||
Medtronic PLC | 614 | 08/05/22 | USD | 92.00 | USD | 5,511 | (156,570 | ) | ||||||||||||||||||||
Microsoft Corp. | 19 | 08/05/22 | USD | 265.00 | USD | 488 | (15,058 | ) | ||||||||||||||||||||
Philip Morris International, Inc. | 315 | 08/05/22 | USD | 101.00 | USD | 3,110 | (77,962 | ) | ||||||||||||||||||||
Synchrony Financial | 572 | 08/05/22 | USD | 32.00 | USD | 1,580 | (28,600 | ) |
58 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Global Dividend Trust (BOE) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||
Texas Instruments, Inc. | 147 | 08/05/22 | USD | 160.00 | USD | 2,259 | $ | (56,227 | ) | |||||||||||||||||||
Visa, Inc., Class A | 41 | 08/05/22 | USD | 210.00 | USD | 807 | (15,478 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 32 | 08/05/22 | USD | 205.00 | USD | 630 | (17,440 | ) | ||||||||||||||||||||
Williams Cos., Inc. | 117 | 08/05/22 | USD | 33.00 | USD | 365 | (8,190 | ) | ||||||||||||||||||||
Baker Hughes Co., Class A | 500 | 08/12/22 | USD | 35.25 | USD | 1,444 | (13,812 | ) | ||||||||||||||||||||
Comcast Corp., Class A | 432 | 08/12/22 | USD | 40.22 | USD | 1,695 | (52,308 | ) | ||||||||||||||||||||
Intercontinental Exchange, Inc. | 637 | 08/12/22 | USD | 101.00 | USD | 5,990 | (87,761 | ) | ||||||||||||||||||||
Williams Cos., Inc. | 117 | 08/12/22 | USD | 33.09 | USD | 365 | (9,010 | ) | ||||||||||||||||||||
AbbVie, Inc. | 29 | 08/19/22 | USD | 160.00 | USD | 444 | (8,744 | ) | ||||||||||||||||||||
Assurant, Inc. | 258 | 08/19/22 | USD | 184.50 | USD | 4,460 | (52,853 | ) | ||||||||||||||||||||
Citizens Financial Group, Inc. | 736 | 08/19/22 | USD | 37.50 | USD | 2,627 | (86,480 | ) | ||||||||||||||||||||
Comcast Corp., Class A | 489 | 08/19/22 | USD | 42.50 | USD | 1,919 | (28,851 | ) | ||||||||||||||||||||
Fidelity National Information Services, Inc. | 14 | 08/19/22 | USD | 100.00 | USD | 128 | (2,835 | ) | ||||||||||||||||||||
Fidelity National Information Services, Inc. | 307 | 08/19/22 | USD | 105.00 | USD | 2,814 | (32,235 | ) | ||||||||||||||||||||
Hasbro, Inc. | 480 | 08/19/22 | USD | 87.50 | USD | 3,930 | (96,000 | ) | ||||||||||||||||||||
International Flavors & Fragrances, Inc. | 130 | 08/19/22 | USD | 120.00 | USD | 1,549 | (70,850 | ) | ||||||||||||||||||||
M&T Bank Corp. | 174 | 08/19/22 | USD | 170.00 | USD | 2,773 | (71,340 | ) | ||||||||||||||||||||
Microsoft Corp. | 87 | 08/19/22 | USD | 270.00 | USD | 2,234 | (62,422 | ) | ||||||||||||||||||||
Otis Worldwide Corp. | 231 | 08/19/22 | USD | 72.18 | USD | 1,632 | (58,788 | ) | ||||||||||||||||||||
TELUS Corp. | 1,387 | 08/19/22 | CAD | 29.00 | CAD | 3,977 | (71,117 | ) | ||||||||||||||||||||
Williams Cos., Inc. | 440 | 08/19/22 | USD | 38.00 | USD | 1,373 | (4,400 | ) | ||||||||||||||||||||
Williams Cos., Inc. | 198 | 08/19/22 | USD | 32.00 | USD | 618 | (25,245 | ) | ||||||||||||||||||||
$ | (2,758,314 | ) | ||||||||||||||||||||||||||
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
AstraZeneca PLC | Morgan Stanley & Co. International PLC | 7,600 | 07/06/22 | GBP | 106.27 | GBP | 821 | $ | (26,184 | ) | ||||||||||||||||||||
BAE Systems PLC | Morgan Stanley & Co. International PLC | 163,500 | 07/06/22 | GBP | 7.78 | GBP | 1,357 | (106,933 | ) | |||||||||||||||||||||
Relx PLC | Credit Suisse International | 56,000 | 07/06/22 | EUR | 27.92 | EUR | 1,446 | (292 | ) | |||||||||||||||||||||
Relx PLC | Morgan Stanley & Co. International PLC | 153,600 | 07/06/22 | EUR | 26.65 | EUR | 3,966 | (13,403 | ) | |||||||||||||||||||||
TELUS Corp. | Royal Bank of Canada | 109,000 | 07/06/22 | CAD | 32.17 | CAD | 3,125 | (371 | ) | |||||||||||||||||||||
Wal-Mart de Mexico SAB de CV | Citibank N.A. | 810,200 | 07/06/22 | MXN | 77.83 | MXN | 56,171 | — | ||||||||||||||||||||||
Reckitt Benckiser Group PLC | Morgan Stanley & Co. International PLC | 27,600 | 07/08/22 | GBP | 64.17 | GBP | 1,703 | (5,343 | ) | |||||||||||||||||||||
Taylor Wimpey PLC | Morgan Stanley & Co. International PLC | 674,500 | 07/08/22 | GBP | 1.30 | GBP | 787 | (164 | ) | |||||||||||||||||||||
BAE Systems PLC | Morgan Stanley & Co. International PLC | 258,300 | 07/12/22 | GBP | 7.87 | GBP | 2,144 | (146,224 | ) | |||||||||||||||||||||
KDDI Corp. | Bank of America N.A. | 112,500 | 07/12/22 | JPY | 4,711.97 | JPY | 482,513 | (3,339 | ) | |||||||||||||||||||||
Prudential PLC | JPMorgan Chase Bank N.A. | 169,800 | 07/12/22 | GBP | 10.60 | GBP | 1,725 | (33,166 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Goldman Sachs International | 343,100 | 07/13/22 | EUR | 4.81 | EUR | 1,527 | (2,692 | ) | |||||||||||||||||||||
EssilorLuxottica SA | UBS AG | 9,300 | 07/13/22 | EUR | 157.64 | EUR | 1,329 | (4,999 | ) | |||||||||||||||||||||
Zurich Insurance Group AG | UBS AG | 7,600 | 07/13/22 | CHF | 448.41 | CHF | 3,156 | (759 | ) | |||||||||||||||||||||
TELUS Corp. | Royal Bank of Canada | 109,000 | 07/14/22 | CAD | 32.17 | CAD | 3,125 | (4,919 | ) | |||||||||||||||||||||
DBS Group Holdings Ltd. | Goldman Sachs International | 70,400 | 07/19/22 | SGD | 31.75 | SGD | 2,089 | (2,096 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Goldman Sachs International | 250,000 | 07/19/22 | EUR | 4.75 | EUR | 1,113 | (5,503 | ) | |||||||||||||||||||||
LVMH Moet Hennessy Louis Vuitton SE | Goldman Sachs International | 5,100 | 07/19/22 | EUR | 628.74 | EUR | 2,967 | (17,977 | ) | |||||||||||||||||||||
Mediatek, Inc. | Morgan Stanley & Co. International PLC | 48,025 | 07/19/22 | USD | 912.26 | USD | 31,264 | (314 | ) | |||||||||||||||||||||
Novo Nisk, Class B | Morgan Stanley & Co. International PLC | 30,650 | 07/19/22 | DKK | 817.63 | DKK | 24,128 | (53,857 | ) | |||||||||||||||||||||
Prudential PLC | Morgan Stanley & Co. International PLC | 78,400 | 07/19/22 | GBP | 10.81 | GBP | 797 | (15,992 | ) | |||||||||||||||||||||
EssilorLuxottica SA | Goldman Sachs International | 36,600 | 07/20/22 | EUR | 154.01 | EUR | 5,230 | (59,256 | ) | |||||||||||||||||||||
Ferguson PLC | Goldman Sachs International | 15,800 | 07/20/22 | GBP | 97.40 | GBP | 1,452 | (18,484 | ) | |||||||||||||||||||||
Koninklijke KPN NV | Goldman Sachs International | 789,000 | 07/20/22 | EUR | 3.44 | EUR | 2,683 | (25,910 | ) | |||||||||||||||||||||
PPR S.A. | Credit Suisse International | 8,300 | 07/20/22 | EUR | 529.31 | EUR | 4,068 | (37,177 | ) | |||||||||||||||||||||
Schneider Electric SE | Barclays Bank PLC | 19,850 | 07/20/22 | EUR | 133.36 | EUR | 2,241 | (989 | ) | |||||||||||||||||||||
Taylor Wimpey PLC | Goldman Sachs International | 704,400 | 07/20/22 | GBP | 1.33 | GBP | 822 | (348 | ) | |||||||||||||||||||||
Wal-Mart de Mexico SAB de CV | Citibank N.A. | 267,000 | 07/20/22 | MXN | 70.40 | MXN | 18,511 | (14,166 | ) | |||||||||||||||||||||
Mediatek, Inc. | JPMorgan Chase Bank N.A. | 96,000 | 07/21/22 | USD | 916.70 | USD | 62,496 | (804 | ) | |||||||||||||||||||||
Reckitt Benckiser Group PLC | Morgan Stanley & Co. International PLC | 74,100 | 07/26/22 | GBP | 61.08 | GBP | 4,572 | (182,259 | ) | |||||||||||||||||||||
TE Connectivity Ltd. | Goldman Sachs International | 20,200 | 07/26/22 | USD | 121.78 | USD | 2,286 | (21,781 | ) | |||||||||||||||||||||
AstraZeneca PLC | Goldman Sachs International | 36,550 | 07/27/22 | GBP | 99.22 | GBP | 3,947 | (440,410 | ) |
S C H E D U L E O F IN V E S T M E N T S | 59 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Global Dividend Trust (BOE) |
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||||
AstraZeneca PLC | Goldman Sachs International | 15,800 | 07/27/22 | GBP | 103.63 | GBP | 1,706 | $ | (119,677 | ) | ||||||||||||||||||||
Diageo PLC | Credit Suisse International | 76,400 | 07/27/22 | GBP | 36.53 | GBP | 2,697 | (87,589 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Morgan Stanley & Co. International PLC | 489,400 | 07/27/22 | EUR | 4.86 | EUR | 2,179 | (7,547 | ) | |||||||||||||||||||||
Novo Nisk, Class B | Morgan Stanley & Co. International PLC | 30,650 | 07/27/22 | DKK | 817.63 | DKK | 24,128 | (74,156 | ) | |||||||||||||||||||||
Prudential PLC | Goldman Sachs International | 90,700 | 07/27/22 | GBP | 11.18 | GBP | 922 | (14,563 | ) | |||||||||||||||||||||
Schneider Electric SE | Goldman Sachs International | 19,850 | 07/27/22 | EUR | 132.69 | EUR | 2,241 | (2,853 | ) | |||||||||||||||||||||
Taylor Wimpey PLC | Goldman Sachs International | 1,140,000 | 07/27/22 | GBP | 1.30 | GBP | 1,330 | (7,347 | ) | |||||||||||||||||||||
Estee Lauder Cos., Inc., Class A | JPMorgan Chase Bank N.A. | 13,600 | 07/28/22 | USD | 255.53 | USD | 3,464 | (147,953 | ) | |||||||||||||||||||||
KDDI Corp. | JPMorgan Chase Bank N.A. | 81,200 | 07/28/22 | JPY | 4,490.04 | JPY | 348,267 | (20,002 | ) | |||||||||||||||||||||
Relx PLC | JPMorgan Chase Bank N.A. | 34,000 | 07/28/22 | EUR | 24.79 | EUR | 878 | (47,496 | ) | |||||||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | JPMorgan Chase Bank N.A. | 136,000 | 07/28/22 | USD | 522.02 | USD | 64,736 | (8,990 | ) | |||||||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | Morgan Stanley & Co. International PLC | 228,000 | 07/28/22 | USD | 524.80 | USD | 108,528 | (13,254 | ) | |||||||||||||||||||||
DBS Group Holdings Ltd. | UBS AG | 91,100 | 08/02/22 | SGD | 31.39 | SGD | 2,704 | (10,710 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Merrill Lynch International | 489,400 | 08/02/22 | EUR | 4.63 | EUR | 2,179 | (32,904 | ) | |||||||||||||||||||||
Ferguson PLC | JPMorgan Chase Bank N.A. | 27,800 | 08/02/22 | GBP | 89.94 | GBP | 2,554 | (176,031 | ) | |||||||||||||||||||||
Mediatek, Inc. | JPMorgan Chase Bank N.A. | 48,000 | 08/02/22 | USD | 967.20 | USD | 31,248 | (264 | ) | |||||||||||||||||||||
AstraZeneca PLC | Credit Suisse International | 36,550 | 08/03/22 | GBP | 99.13 | GBP | 3,947 | (468,129 | ) | |||||||||||||||||||||
Diageo PLC | JPMorgan Chase Bank N.A. | 65,700 | 08/03/22 | GBP | 35.10 | GBP | 2,320 | (111,042 | ) | |||||||||||||||||||||
Epiroc AB, Class A | JPMorgan Chase Bank N.A. | 87,700 | 08/03/22 | SEK | 179.93 | SEK | 13,852 | (8,116 | ) | |||||||||||||||||||||
Relx PLC | JPMorgan Chase Bank N.A. | 78,000 | 08/03/22 | EUR | 24.77 | EUR | 2,014 | (115,137 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Morgan Stanley & Co. International PLC | 104,700 | 08/09/22 | EUR | 4.65 | EUR | 466 | (8,039 | ) | |||||||||||||||||||||
EssilorLuxottica SA | Goldman Sachs International | 7,600 | 08/09/22 | EUR | 141.92 | EUR | 1,086 | (62,075 | ) | |||||||||||||||||||||
Ferguson PLC | Merrill Lynch International | 13,100 | 08/09/22 | GBP | 95.94 | GBP | 1,204 | (39,777 | ) | |||||||||||||||||||||
Novo Nisk, Class B | Morgan Stanley & Co. International PLC | 30,100 | 08/09/22 | DKK | 796.64 | DKK | 23,695 | (135,079 | ) | |||||||||||||||||||||
Prudential PLC | JPMorgan Chase Bank N.A. | 152,200 | 08/09/22 | GBP | 9.70 | GBP | 1,546 | (160,476 | ) | |||||||||||||||||||||
Relx PLC | JPMorgan Chase Bank N.A. | 56,000 | 08/09/22 | EUR | 25.36 | EUR | 1,446 | (62,988 | ) | |||||||||||||||||||||
Sanofi | Credit Suisse International | 57,850 | 08/09/22 | EUR | 98.75 | EUR | 5,573 | (124,522 | ) | |||||||||||||||||||||
Sanofi | Goldman Sachs International | 57,900 | 08/09/22 | EUR | 98.21 | EUR | 5,578 | (136,931 | ) | |||||||||||||||||||||
Taylor Wimpey PLC | Merrill Lynch International | 674,000 | 08/09/22 | GBP | 1.33 | GBP | 786 | (5,619 | ) | |||||||||||||||||||||
Diageo PLC | UBS AG | 38,700 | 08/11/22 | GBP | 36.29 | GBP | 1,366 | (37,531 | ) | |||||||||||||||||||||
Koninklijke KPN NV | UBS AG | 789,100 | 08/11/22 | EUR | 3.47 | EUR | 2,684 | (51,502 | ) | |||||||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | UBS AG | 156,000 | 08/11/22 | USD | 508.65 | USD | 74,256 | (29,178 | ) | |||||||||||||||||||||
Zurich Insurance Group AG | Goldman Sachs International | 7,600 | 08/11/22 | CHF | 425.31 | CHF | 3,156 | (58,280 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Morgan Stanley & Co. International PLC | 104,700 | 08/16/22 | EUR | 4.65 | EUR | 466 | (9,184 | ) | |||||||||||||||||||||
Epiroc AB, Class A | Merrill Lynch International | 87,700 | 08/17/22 | SEK | 167.61 | SEK | 13,852 | (34,672 | ) | |||||||||||||||||||||
Epiroc AB, Class A | Morgan Stanley & Co. International PLC | 87,700 | 09/01/22 | SEK | 170.92 | SEK | 13,852 | (36,770 | ) | |||||||||||||||||||||
$ | (3,712,494 | ) | ||||||||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 3,308,915 | $ | (2,016,390 | ) | $ | (6,470,808 | ) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 6,470,808 | $ | — | $ | — | $ | — | $ | 6,470,808 | ||||||||||||||
60 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Global Dividend Trust (BOE) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 5,691,315 | $ | — | $ | — | $ | — | $ | 5,691,315 | ||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 2,914,829 | $ | — | $ | — | $ | — | $ | 2,914,829 | ||||||||||||||
Options: | ||||
Average value of option contracts written | $ | 8,333,591 |
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 6,470,808 | ||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 6,470,808 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (2,758,314 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 3,712,494 | ||||
Counterparty | Derivative Liabilities Subject to an MNA by Counterparty | Derivatives Available for Offset | Non-Cash Collateral Pledged | (a) | Cash Collateral Pledged | Net Amount of Derivative Liabilities | (b) | |||||||||||||
Bank of America N.A. | $ | 3,339 | $ | — | $ | — | $ | — | $ | 3,339 | ||||||||||
Barclays Bank PLC | 989 | — | — | — | 989 | |||||||||||||||
Citibank N.A. | 14,166 | — | — | — | 14,166 | |||||||||||||||
Credit Suisse International | 717,709 | — | (717,709 | ) | — | — | ||||||||||||||
Goldman Sachs International | 996,183 | — | (996,183 | ) | — | — | ||||||||||||||
JPMorgan Chase Bank N.A. | 892,465 | — | (892,465 | ) | — | — | ||||||||||||||
Merrill Lynch International | 112,972 | — | — | — | 112,972 | |||||||||||||||
Morgan Stanley & Co. International PLC | 834,702 | — | (834,702 | ) | — | — | ||||||||||||||
Royal Bank of Canada | 5,290 | — | — | — | 5,290 | |||||||||||||||
UBS AG | 134,679 | — | — | (26,000 | ) | 108,679 | ||||||||||||||
$ | 3,712,494 | $ | — | $ | (3,441,059 | ) | $ | (26,000 | ) | $ | 245,435 | |||||||||
(a) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(b) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Statements of Assets and Liabilities. |
S C H E D U L E O F IN V E S T M E N T S | 61 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced Global Dividend Trust (BOE) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Canada | $ | 17,656,684 | $ | — | $ | — | $ | 17,656,684 | ||||||||
Denmark | — | 22,512,503 | — | 22,512,503 | ||||||||||||
France | — | 75,324,539 | — | 75,324,539 | ||||||||||||
India | — | — | 718,671 | 718,671 | ||||||||||||
Indonesia | — | 8,062,061 | — | 8,062,061 | ||||||||||||
Ireland | 17,086,874 | — | — | 17,086,874 | ||||||||||||
Japan | — | 11,106,402 | — | 11,106,402 | ||||||||||||
Mexico | 8,252,140 | — | — | 8,252,140 | ||||||||||||
Netherlands | — | 12,477,980 | �� | — | 12,477,980 | |||||||||||
Portugal | — | 18,447,115 | — | 18,447,115 | ||||||||||||
Singapore | — | 7,674,560 | — | 7,674,560 | ||||||||||||
Sweden | — | 12,085,933 | — | 12,085,933 | ||||||||||||
Switzerland | 11,158,287 | 14,799,892 | — | 25,958,179 | ||||||||||||
Taiwan | — | 27,893,684 | — | 27,893,684 | ||||||||||||
United Kingdom | — | 134,514,150 | — | 134,514,150 | ||||||||||||
United States | 315,456,914 | — | — | 315,456,914 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 2,371,617 | — | — | 2,371,617 | ||||||||||||
$ | 371,982,516 | $ | 344,898,819 | $ | 718,671 | $ | 717,600,006 | |||||||||
Derivative Financial Instruments (a) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (2,423,980 | ) | $ | (4,046,828 | ) | $ | — | $ | (6,470,808 | ) | |||||
(a) | Derivative financial instruments are options written. Options written are shown at value. |
62 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) June 30, 2022 | BlackRock Enhanced International Dividend Trust (BGY) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Canada — 3.3% | ||||||||
TELUS Corp. | 882,602 | $ | 19,658,328 | |||||
Denmark — 4.8% | ||||||||
Novo Nordisk A/S, Class B | 254,077 | 28,177,725 | ||||||
France — 19.2% | ||||||||
Air Liquide SA | 80,457 | 10,829,735 | ||||||
EssilorLuxottica SA | 153,852 | 23,325,898 | ||||||
Kering SA | 34,745 | 18,005,790 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 26,362 | 16,156,679 | ||||||
Sanofi | 290,085 | 29,253,919 | ||||||
Schneider Electric SE | 130,926 | 15,600,550 | ||||||
113,172,571 | ||||||||
India — 3.1% | ||||||||
HDFC Bank Ltd. | 994,804 | 17,040,109 | ||||||
Jasper Infotech Private Ltd., Series I, (Acquired 01/25/22, Cost: $3,948,600) (a)(b)(c) | 848,000 | 1,075,939 | ||||||
18,116,048 | ||||||||
Indonesia — 1.8% | ||||||||
Bank Rakyat Indonesia Persero Tbk PT | 38,965,000 | 10,881,582 | ||||||
Japan — 1.9% | ||||||||
KDDI Corp. | 360,400 | 11,364,983 | ||||||
Mexico — 2.3% | ||||||||
Wal-Mart de Mexico SAB de CV | 3,955,437 | 13,636,861 | ||||||
Netherlands — 2.9% | ||||||||
Koninklijke KPN NV | 4,779,805 | 17,007,162 | ||||||
Portugal — 4.0% | ||||||||
EDP - Energias de Portugal SA | 5,092,166 | 23,731,180 | ||||||
Singapore — 4.2% | ||||||||
DBS Group Holdings Ltd. | 569,700 | 12,190,095 | ||||||
United Overseas Bank Ltd. | 679,100 | 12,829,639 | ||||||
25,019,734 | ||||||||
Spain — 2.5% | ||||||||
Bankinter SA | 2,348,631 | 14,690,349 | ||||||
Sweden — 2.5% | ||||||||
Epiroc AB, Class A | 970,480 | 15,047,353 | ||||||
Switzerland — 2.1% | ||||||||
Zurich Insurance Group AG | 27,837 | 12,138,972 | ||||||
Taiwan — 5.2% | ||||||||
MediaTek, Inc. | 554,000 | 12,160,954 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 1,146,000 | 18,366,191 | ||||||
30,527,145 |
Security | Shares | Value | ||||||
United Kingdom — 28.2% | ||||||||
AstraZeneca PLC | 217,832 | $ | 28,736,775 | |||||
BAE Systems PLC | 1,000,554 | 10,129,603 | ||||||
Diageo PLC | 510,690 | 22,058,080 | ||||||
Ferguson PLC | 171,255 | 19,184,411 | ||||||
Prudential PLC | 1,834,902 | 22,824,770 | ||||||
Reckitt Benckiser Group PLC | 369,546 | 27,794,396 | ||||||
RELX PLC | 820,936 | 22,200,526 | ||||||
Taylor Wimpey PLC | 9,660,526 | 13,760,837 | ||||||
166,689,398 | ||||||||
United States (d)(e) — 10.4% | ||||||||
Baker Hughes Co., Class A | 366,826 | 10,590,267 | ||||||
Estee Lauder Cos., Inc., Class A | 67,274 | 17,132,669 | ||||||
Otis Worldwide Corp. | 268,552 | 18,978,570 | ||||||
Visa, Inc., Class A | 76,436 | 15,049,484 | ||||||
61,750,990 | ||||||||
Total Long-Term Investments — 98.4% (Cost: $554,589,060) | 581,610,381 | |||||||
Short-Term Securities | ||||||||
Money Market Funds — 1.4% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33% (f)(g) | 8,325,690 | 8,325,690 | ||||||
Total Short-Term Securities — 1.4% (Cost: $8,325,690) | 8,325,690 | |||||||
Total Investments Before Options Written — 99.8% (Cost: $562,914,750) | 589,936,071 | |||||||
Options Written — (1.0)% (Premiums Received: $(6,072,338)) | (5,937,531 | ) | ||||||
Total Investments, Net of Options Written — 98.8% (Cost: $556,842,412) | 583,998,540 | |||||||
Other Assets Less Liabilities — 1.2% | 6,915,204 | |||||||
Net Assets — 100.0% | $ | 590,913,744 | ||||||
(a) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(b) | Non-income producing security. |
(c) | Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $1,075,939, representing 0.2% of its net assets as of period end, and an original cost of $3,948,600. |
(d) | All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives. |
(e) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(f) | Affiliate of the Trust. |
(g) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 5,586,240 | $ | 2,739,450 | (a) | $ | — | $ | — | $ | — | $ | 8,325,690 | 8,325,690 | $ | 13,794 | $ | — | ||||||||||||||||||
(a) | Represents net amount purchased (sold). |
S C H E D U L E O F IN V E S T M E N T S | 63 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced International Dividend Trust (BGY) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||
Baker Hughes Co., Class A | 850 | 07/15/22 | USD | 38.00 | USD | 2,454 | $ | (8,500 | ) | |||||||||||||||||||
Estee Lauder Cos., Inc., Class A | 166 | 07/15/22 | USD | 260.00 | USD | 4,228 | (90,470 | ) | ||||||||||||||||||||
Otis Worldwide Corp. | 155 | 07/15/22 | USD | 73.05 | USD | 1,095 | (13,037 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 3 | 07/15/22 | USD | 215.00 | USD | 59 | (131 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 66 | 07/15/22 | USD | 202.50 | USD | 1,299 | (19,635 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 79 | 07/22/22 | USD | 225.00 | USD | 1,555 | (1,936 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 40 | 07/22/22 | USD | 205.00 | USD | 788 | (12,680 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 82 | 07/29/22 | USD | 210.00 | USD | 1,614 | (26,568 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 41 | 08/05/22 | USD | 210.00 | USD | 807 | (15,477 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 32 | 08/05/22 | USD | 205.00 | USD | 630 | (17,440 | ) | ||||||||||||||||||||
Baker Hughes Co., Class A | 800 | 08/12/22 | USD | 35.25 | USD | 2,310 | (22,098 | ) | ||||||||||||||||||||
Otis Worldwide Corp. | 590 | 08/12/22 | USD | 79.00 | USD | 4,170 | (29,293 | ) | ||||||||||||||||||||
Otis Worldwide Corp. | 463 | 08/19/22 | USD | 72.18 | USD | 3,272 | (117,831 | ) | ||||||||||||||||||||
TELUS Corp. | 1,739 | 08/19/22 | CAD | 29.00 | CAD | 4,986 | (89,166 | ) | ||||||||||||||||||||
$ | (464,262 | ) | ||||||||||||||||||||||||||
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
BAE Systems PLC | Morgan Stanley & Co. International PLC | 236,500 | 07/06/22 | GBP | 7.78 | GBP | 1,963 | $ | (154,676 | ) | ||||||||||||||||||||
Bankinter SA | Credit Suisse International | 540,600 | 07/06/22 | EUR | 5.48 | EUR | 3,218 | (286,802 | ) | |||||||||||||||||||||
Relx PLC | Credit Suisse International | 71,700 | 07/06/22 | EUR | 27.92 | EUR | 1,851 | (374 | ) | |||||||||||||||||||||
TELUS Corp. | Royal Bank of Canada | 111,600 | 07/06/22 | CAD | 32.17 | CAD | 3,200 | (380 | ) | |||||||||||||||||||||
Wal-Mart de Mexico SAB de CV | Citibank N.A. | 1,200,900 | 07/06/22 | MXN | 77.83 | MXN | 83,258 | — | ||||||||||||||||||||||
Reckitt Benckiser Group PLC | Morgan Stanley & Co. International PLC | 51,700 | 07/08/22 | GBP | 64.17 | GBP | 3,190 | (10,009 | ) | |||||||||||||||||||||
Taylor Wimpey PLC | Morgan Stanley & Co. International PLC | 1,115,800 | 07/08/22 | GBP | 1.30 | GBP | 1,302 | (272 | ) | |||||||||||||||||||||
United Overseas Bank Ltd. | UBS AG | 156,600 | 07/08/22 | SGD | 30.21 | SGD | 4,111 | — | ||||||||||||||||||||||
KDDI Corp. | Bank of America N.A. | 139,500 | 07/12/22 | JPY | 4,711.97 | JPY | 598,316 | (4,140 | ) | |||||||||||||||||||||
Prudential PLC | JPMorgan Chase Bank N.A. | 169,200 | 07/12/22 | GBP | 10.61 | GBP | 1,719 | (33,048 | ) | |||||||||||||||||||||
Air Liquide SA | Goldman Sachs International | 22,220 | 07/13/22 | EUR | 153.61 | EUR | 2,847 | (35 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Goldman Sachs International | 391,900 | 07/13/22 | EUR | 4.81 | EUR | 1,745 | (3,075 | ) | |||||||||||||||||||||
EssilorLuxottica SA | UBS AG | 16,800 | 07/13/22 | EUR | 157.64 | EUR | 2,401 | (9,031 | ) | |||||||||||||||||||||
Zurich Insurance Group AG | UBS AG | 6,300 | 07/13/22 | CHF | 448.41 | CHF | 2,616 | (629 | ) | |||||||||||||||||||||
TELUS Corp. | Royal Bank of Canada | 111,600 | 07/14/22 | CAD | 32.17 | CAD | 3,200 | (5,036 | ) | |||||||||||||||||||||
Air Liquide SA | Merrill Lynch International | 22,000 | 07/19/22 | EUR | 151.22 | EUR | 2,819 | (213 | ) | |||||||||||||||||||||
DBS Group Holdings Ltd. | Goldman Sachs International | 113,900 | 07/19/22 | SGD | 31.75 | SGD | 3,381 | (3,392 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Goldman Sachs International | 128,000 | 07/19/22 | EUR | 4.75 | EUR | 570 | (2,817 | ) | |||||||||||||||||||||
LVMH Moet Hennessy Louis Vuitton SE | Goldman Sachs International | 9,300 | 07/19/22 | EUR | 628.74 | EUR | 5,410 | (32,782 | ) | |||||||||||||||||||||
Mediatek, Inc. | Morgan Stanley & Co. International PLC | 225,817 | 07/19/22 | USD | 912.26 | USD | 147,007 | (1,477 | ) | |||||||||||||||||||||
Novo Nisk, Class B | Credit Suisse International | 14,900 | 07/19/22 | DKK | 789.60 | DKK | 11,729 | (48,057 | ) | |||||||||||||||||||||
Prudential PLC | Morgan Stanley & Co. International PLC | 119,800 | 07/19/22 | GBP | 10.81 | GBP | 1,217 | (24,437 | ) | |||||||||||||||||||||
EssilorLuxottica SA | Goldman Sachs International | 47,300 | 07/20/22 | EUR | 154.01 | EUR | 6,759 | (76,580 | ) | |||||||||||||||||||||
Ferguson PLC | Goldman Sachs International | 12,400 | 07/20/22 | GBP | 97.40 | GBP | 1,139 | (14,507 | ) | |||||||||||||||||||||
Koninklijke KPN NV | Goldman Sachs International | 1,075,000 | 07/20/22 | EUR | 3.44 | EUR | 3,656 | (35,301 | ) | |||||||||||||||||||||
PPR S.A. | Credit Suisse International | 11,400 | 07/20/22 | EUR | 529.32 | EUR | 5,587 | (51,062 | ) | |||||||||||||||||||||
PPR S.A. | Goldman Sachs International | 1,900 | 07/20/22 | EUR | 534.11 | EUR | 931 | (7,158 | ) | |||||||||||||||||||||
Schneider Electric SE | Barclays Bank PLC | 22,950 | 07/20/22 | EUR | 133.36 | EUR | 2,591 | (1,144 | ) | |||||||||||||||||||||
Taylor Wimpey PLC | Goldman Sachs International | 984,000 | 07/20/22 | GBP | 1.33 | GBP | 1,148 | (486 | ) | |||||||||||||||||||||
Wal-Mart de Mexico SAB de CV | Citibank N.A. | 579,000 | 07/20/22 | MXN | 70.40 | MXN | 40,142 | (30,719 | ) | |||||||||||||||||||||
BAE Systems PLC | Morgan Stanley & Co. International PLC | 113,800 | 07/26/22 | GBP | 8.16 | GBP | 945 | (40,171 | ) | |||||||||||||||||||||
Reckitt Benckiser Group PLC | Morgan Stanley & Co. International PLC | 77,600 | 07/26/22 | GBP | 61.08 | GBP | 4,788 | (190,867 | ) | |||||||||||||||||||||
AstraZeneca PLC | Goldman Sachs International | 59,900 | 07/27/22 | GBP | 99.22 | GBP | 6,469 | (721,766 | ) | |||||||||||||||||||||
Diageo PLC | JPMorgan Chase Bank N.A. | 69,500 | 07/27/22 | GBP | 35.10 | GBP | 2,454 | (112,426 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Goldman Sachs International | 82,500 | 07/27/22 | EUR | 4.58 | EUR | 367 | (6,412 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Morgan Stanley & Co. International PLC | 422,500 | 07/27/22 | EUR | 4.86 | EUR | 1,881 | (6,516 | ) | |||||||||||||||||||||
Novo Nisk, Class B | Morgan Stanley & Co. International PLC | 13,500 | 07/27/22 | DKK | 817.63 | DKK | 10,627 | (32,662 | ) | |||||||||||||||||||||
Prudential PLC | Goldman Sachs International | 183,100 | 07/27/22 | GBP | 11.18 | GBP | 1,860 | (29,399 | ) |
64 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced International Dividend Trust (BGY) |
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||||
Schneider Electric SE | Goldman Sachs International | 22,950 | 07/27/22 | EUR | 132.69 | EUR | 2,591 | $ | (3,299 | ) | ||||||||||||||||||||
Taylor Wimpey PLC | Goldman Sachs International | 1,132,000 | 07/27/22 | GBP | 1.30 | GBP | 1,320 | (7,295 | ) | |||||||||||||||||||||
United Overseas Bank Ltd. | Goldman Sachs International | 75,000 | 07/27/22 | SGD | 29.07 | SGD | 1,969 | (337 | ) | |||||||||||||||||||||
Bankinter SA | Barclays Bank PLC | 281,500 | 07/28/22 | EUR | 5.65 | EUR | 1,675 | (136,468 | ) | |||||||||||||||||||||
Estee Lauder Cos., Inc., Class A | JPMorgan Chase Bank N.A. | 13,600 | 07/28/22 | USD | 255.54 | USD | 3,464 | (147,953 | ) | |||||||||||||||||||||
KDDI Corp. | JPMorgan Chase Bank N.A. | 58,700 | 07/28/22 | JPY | 4,490.04 | JPY | 251,764 | (14,460 | ) | |||||||||||||||||||||
Relx PLC | JPMorgan Chase Bank N.A. | 100,800 | 07/28/22 | EUR | 24.79 | EUR | 2,603 | (140,811 | ) | |||||||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | JPMorgan Chase Bank N.A. | 160,000 | 07/28/22 | USD | 522.02 | USD | 76,160 | (10,576 | ) | |||||||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | Morgan Stanley & Co. International PLC | 230,000 | 07/28/22 | USD | 524.80 | USD | 109,480 | (13,370 | ) | |||||||||||||||||||||
BAE Systems PLC | Goldman Sachs International | 100,000 | 08/02/22 | GBP | 7.93 | GBP | 830 | (56,825 | ) | |||||||||||||||||||||
DBS Group Holdings Ltd. | UBS AG | 142,500 | 08/02/22 | SGD | 31.39 | SGD | 4,229 | (16,753 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Merrill Lynch International | 587,300 | 08/02/22 | EUR | 4.63 | EUR | 2,615 | (39,486 | ) | |||||||||||||||||||||
Ferguson PLC | JPMorgan Chase Bank N.A. | 42,400 | 08/02/22 | GBP | 89.94 | GBP | 3,896 | (268,480 | ) | |||||||||||||||||||||
Mediatek, Inc. | JPMorgan Chase Bank N.A. | 28,000 | 08/02/22 | USD | 967.20 | USD | 18,228 | (154 | ) | |||||||||||||||||||||
AstraZeneca PLC | Credit Suisse International | 59,900 | 08/03/22 | GBP | 99.13 | GBP | 6,469 | (767,193 | ) | |||||||||||||||||||||
Diageo PLC | JPMorgan Chase Bank N.A. | 69,500 | 08/03/22 | GBP | 35.10 | GBP | 2,454 | (117,464 | ) | |||||||||||||||||||||
Epiroc AB, Class A | JPMorgan Chase Bank N.A. | 109,300 | 08/03/22 | SEK | 179.93 | SEK | 17,264 | (10,115 | ) | |||||||||||||||||||||
Relx PLC | JPMorgan Chase Bank N.A. | 83,000 | 08/03/22 | EUR | 24.77 | EUR | 2,143 | (122,517 | ) | |||||||||||||||||||||
United Overseas Bank Ltd. | Morgan Stanley & Co. International PLC | 74,000 | 08/03/22 | SGD | 27.67 | SGD | 1,943 | (5,886 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Credit Suisse International | 294,300 | 08/09/22 | EUR | 4.42 | EUR | 1,310 | (47,227 | ) | |||||||||||||||||||||
EssilorLuxottica SA | Goldman Sachs International | 10,700 | 08/09/22 | EUR | 141.92 | EUR | 1,529 | (87,395 | ) | |||||||||||||||||||||
EssilorLuxottica SA | JPMorgan Chase Bank N.A. | 9,800 | 08/09/22 | EUR | 144.68 | EUR | 1,400 | (63,632 | ) | |||||||||||||||||||||
Ferguson PLC | Merrill Lynch International | 22,300 | 08/09/22 | GBP | 95.94 | GBP | 2,049 | (67,712 | ) | |||||||||||||||||||||
Novo Nisk, Class B | Morgan Stanley & Co. International PLC | 85,900 | 08/09/22 | DKK | 796.64 | DKK | 67,620 | (385,491 | ) | |||||||||||||||||||||
Prudential PLC | JPMorgan Chase Bank N.A. | 170,100 | 08/09/22 | GBP | 9.70 | GBP | 1,728 | (179,349 | ) | |||||||||||||||||||||
Relx PLC | JPMorgan Chase Bank N.A. | 113,900 | 08/09/22 | EUR | 25.36 | EUR | 2,941 | (128,114 | ) | |||||||||||||||||||||
Sanofi | Credit Suisse International | 65,250 | 08/09/22 | EUR | 98.75 | EUR | 6,286 | (140,450 | ) | |||||||||||||||||||||
Sanofi | Goldman Sachs International | 65,300 | 08/09/22 | EUR | 98.21 | EUR | 6,291 | (154,431 | ) | |||||||||||||||||||||
Taylor Wimpey PLC | Merrill Lynch International | 1,115,000 | 08/09/22 | GBP | 1.33 | GBP | 1,301 | (9,295 | ) | |||||||||||||||||||||
Diageo PLC | UBS AG | 90,900 | 08/11/22 | GBP | 36.29 | GBP | 3,209 | (88,154 | ) | |||||||||||||||||||||
Koninklijke KPN NV | UBS AG | 1,075,900 | 08/11/22 | EUR | 3.47 | EUR | 3,659 | (70,220 | ) | |||||||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | UBS AG | 125,000 | 08/11/22 | USD | 508.65 | USD | 59,500 | (23,380 | ) | |||||||||||||||||||||
Zurich Insurance Group AG | Goldman Sachs International | 6,300 | 08/11/22 | CHF | 425.31 | CHF | 2,616 | (48,311 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Morgan Stanley & Co. International PLC | 385,000 | 08/16/22 | EUR | 4.65 | EUR | 1,714 | (33,770 | ) | |||||||||||||||||||||
Epiroc AB, Class A | Merrill Lynch International | 109,300 | 08/17/22 | SEK | 167.61 | SEK | 17,264 | (43,212 | ) | |||||||||||||||||||||
Epiroc AB, Class A | Morgan Stanley & Co. International PLC | 109,300 | 09/01/22 | SEK | 170.92 | SEK | 17,264 | (45,826 | ) | |||||||||||||||||||||
$ | (5,473,269 | ) | ||||||||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 2,538,578 | $ | (2,403,771 | ) | $ | (5,937,531 | ) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 5,937,531 | $ | — | $ | — | $ | — | $ | 5,937,531 | ||||||||||||||
S C H E D U L E O F IN V E S T M E N T S | 65 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced International Dividend Trust (BGY) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 935,870 | $ | — | $ | — | $ | — | $ | 935,870 | ||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 2,361,202 | $ | — | $ | — | $ | — | $ | 2,361,202 | ||||||||||||||
Options: | ||||
Average value of option contracts written | $ | 6,836,414 |
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 5,937,531 | ||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 5,937,531 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (464,262 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 5,473,269 | ||||
Counterparty | | Derivative Liabilities Subject to an MNA by Counterparty | | | Derivatives Available for Offset | | | Non-Cash Collateral Pledged | (a) | | Cash Collateral Pledged | | | Net Amount of Derivative Liabilities | (b) | |||||
Bank of America N.A. | $ | 4,140 | $ | — | $ | — | $ | — | $ | 4,140 | ||||||||||
Barclays Bank PLC | 137,612 | — | — | (34,000) | 103,612 | |||||||||||||||
Citibank N.A. | 30,719 | — | — | — | 30,719 | |||||||||||||||
Credit Suisse International | 1,341,165 | — | (1,341,165 | ) | — | — | ||||||||||||||
Goldman Sachs International | 1,291,603 | — | (1,291,603 | ) | — | — | ||||||||||||||
JPMorgan Chase Bank N.A. | 1,349,099 | — | (1,349,099 | ) | — | — | ||||||||||||||
Merrill Lynch International | 159,918 | — | — | — | 159,918 | |||||||||||||||
Morgan Stanley & Co. International PLC | 945,430 | — | (624,430 | ) | (321,000 | ) | — | |||||||||||||
Royal Bank of Canada | 5,416 | — | — | — | 5,416 | |||||||||||||||
UBS AG | 208,167 | — | (208,167 | ) | — | — | ||||||||||||||
$ | 5,473,269 | $ | — | $ | (4,814,464 | ) | $ | (355,000 | ) | $ | 303,805 | |||||||||
(a) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(b) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Statements of Assets and Liabilities. |
66 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Enhanced International Dividend Trust (BGY) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Canada | $ | 19,658,328 | $ | — | $ | — | $ | 19,658,328 | ||||||||
Denmark | — | 28,177,725 | — | 28,177,725 | ||||||||||||
France | — | 113,172,571 | — | 113,172,571 | ||||||||||||
India | — | 17,040,109 | 1,075,939 | 18,116,048 | ||||||||||||
Indonesia | — | 10,881,582 | — | 10,881,582 | ||||||||||||
Japan | — | 11,364,983 | — | 11,364,983 | ||||||||||||
Mexico | 13,636,861 | — | — | 13,636,861 | ||||||||||||
Netherlands | — | 17,007,162 | — | 17,007,162 | ||||||||||||
Portugal | — | 23,731,180 | — | 23,731,180 | ||||||||||||
Singapore | — | 25,019,734 | — | 25,019,734 | ||||||||||||
Spain | — | 14,690,349 | — | 14,690,349 | ||||||||||||
Sweden | — | 15,047,353 | — | 15,047,353 | ||||||||||||
Switzerland | — | 12,138,972 | — | 12,138,972 | ||||||||||||
Taiwan | — | 30,527,145 | — | 30,527,145 | ||||||||||||
United Kingdom | — | 166,689,398 | — | 166,689,398 | ||||||||||||
United States | 61,750,990 | — | — | 61,750,990 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 8,325,690 | — | — | 8,325,690 | ||||||||||||
$ | 103,371,869 | $ | 485,488,263 | $ | 1,075,939 | $ | 589,936,071 | |||||||||
Derivative Financial Instruments (a) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (282,003) | $ | (5,655,528) | $ | — | $ | (5,937,531) | ||||||||
(a) | Derivative financial instruments are options written. Options written are shown at value. |
S C H E D U L E O F IN V E S T M E N T S | 67 |
Schedule of Investments (unaudited) June 30, 2022 | BlackRock Health Sciences Trust (BME) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Biotechnology — 18.3% | ||||||||
AbbVie, Inc. | 133,468 | $ | 20,441,959 | |||||
Acumen Pharmaceuticals, Inc. (a) | 152,651 | 717,460 | ||||||
Alkermes PLC (a) | 22,001 | 655,410 | ||||||
Alnylam Pharmaceuticals, Inc. (a) | 15,583 | 2,272,781 | ||||||
Ambrx Biopharma, Inc., ADR (a) | 43,409 | 115,034 | ||||||
Amgen, Inc. (b) | 67,126 | 16,331,756 | ||||||
Arcutis Biotherapeutics, Inc. (a) | 42,854 | 913,219 | ||||||
Argenx SE, ADR (a) | 6,666 | 2,525,614 | ||||||
Biogen, Inc. (a) | 39,237 | 8,001,994 | ||||||
BioMarin Pharmaceutical, Inc. (a) | 34,340 | 2,845,756 | ||||||
Cerevel Therapeutics Holdings, Inc. (a) | 16,785 | 443,795 | ||||||
Decibel Therapeutics, Inc. (a) | 46,884 | 197,382 | ||||||
Design Therapeutics, Inc. (a) | 13,967 | 195,538 | ||||||
Enanta Pharmaceuticals, Inc. (a) | 3,150 | 148,901 | ||||||
Everest Medicines Ltd. (a)(c) | 30,500 | 87,631 | ||||||
Exact Sciences Corp. (a) | 15,501 | 610,584 | ||||||
Genmab A/S (a) | 2,498 | 810,463 | ||||||
Genmab A/S, ADR (a) | 16,911 | 549,438 | ||||||
Gilead Sciences, Inc. | 135,169 | 8,354,796 | ||||||
Horizon Therapeutics PLC (a) | 17,217 | 1,373,228 | ||||||
Imago Biosciences, Inc. (a) | 47,824 | 640,363 | ||||||
Immuneering Corp., Class A (a)(d) | 14,456 | 78,207 | ||||||
Immunocore Holdings PLC, ADR (a) | 9,668 | 360,713 | ||||||
Incyte Corp. (a) | 26,918 | 2,044,960 | ||||||
Ionis Pharmaceuticals, Inc. (a) | 15,110 | 559,372 | ||||||
Krystal Biotech, Inc. (a) | 4,198 | 275,641 | ||||||
Moderna, Inc. (a) | 29,223 | 4,174,506 | ||||||
Monte Rosa Therapeutics, Inc. (a) | 28,575 | 276,320 | ||||||
MoonLake Immunotherapeutics (a)(d) | 11,715 | 61,504 | ||||||
Neurocrine Biosciences, Inc. (a) | 23,254 | 2,266,800 | ||||||
PMV Pharmaceuticals, Inc. (a) | 17,490 | 249,232 | ||||||
Point Biopharma Global, Inc. (a)(d) | 27,000 | 183,870 | ||||||
Prothena Corp. PLC (a) | 17,159 | 465,867 | ||||||
Regeneron Pharmaceuticals, Inc. (a) | 9,757 | 5,767,655 | ||||||
Revolution Medicines, Inc. (a) | 10,535 | 205,327 | ||||||
Sarepta Therapeutics, Inc. (a) | 22,753 | 1,705,565 | ||||||
Seagen, Inc. (a) | 20,872 | 3,693,092 | ||||||
Sierra Oncology, Inc. (a) | 10,571 | 581,299 | ||||||
Sigilon Therapeutics, Inc. (a) | 19,555 | 16,231 | ||||||
Talaris Therapeutics, Inc. (a) | 23,939 | 107,965 | ||||||
Tenaya Therapeutics, Inc. (a) | 25,502 | 143,576 | ||||||
TScan Therapeutics, Inc. (a) | 29,940 | 94,161 | ||||||
Vertex Pharmaceuticals, Inc. (a) | 41,974 | 11,827,853 | ||||||
103,372,818 | ||||||||
Diversified Financial Services (a) — 0.3% | ||||||||
Health Assurance Acquisition Corp., Class A | 90,235 | 891,522 | ||||||
Health Sciences Acquisitions Corp. 2 | 13,696 | 136,412 | ||||||
MedTech Acquisition Corp., Class A | 42,753 | 420,690 | ||||||
1,448,624 | ||||||||
Health Care Equipment & Supplies — 14.8% | ||||||||
Abbott Laboratories (b) | 206,357 | 22,420,688 | ||||||
ABIOMED, Inc. (a) | 14,359 | 3,553,996 | ||||||
Alcon, Inc. | 53,199 | 3,718,078 | ||||||
Bausch & Lomb Corp. (a)(d) | 75,830 | 1,155,649 | ||||||
Baxter International, Inc. | 71,467 | 4,590,325 | ||||||
Boston Scientific Corp. (a) | 260,597 | 9,712,450 | ||||||
Cooper Cos., Inc. | 5,056 | 1,583,135 | ||||||
DexCom, Inc. (a) | 41,320 | 3,079,580 |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
Edwards Lifesciences Corp. (a) | 42,331 | $ | 4,025,255 | |||||
Insulet Corp. (a) | 7,050 | 1,536,477 | ||||||
Intuitive Surgical, Inc. (a) | 20,504 | 4,115,358 | ||||||
Medtronic PLC | 91,659 | 8,226,395 | ||||||
Nevro Corp. (a) | 41,187 | 1,805,226 | ||||||
Novocure Ltd. (a) | 10,555 | 733,573 | ||||||
Omnicell, Inc. (a) | 6,425 | 730,844 | ||||||
ResMed, Inc. | 20,674 | 4,333,891 | ||||||
Stryker Corp. | 30,152 | 5,998,137 | ||||||
Teleflex, Inc. | 4,190 | 1,030,111 | ||||||
Zimmer Biomet Holdings, Inc. | 14,617 | 1,535,662 | ||||||
83,884,830 | ||||||||
Health Care Providers & Services — 23.3% | ||||||||
Agiliti, Inc. (a) | 75,106 | 1,540,424 | ||||||
Agilon Health, Inc. (a) | 21,477 | 468,843 | ||||||
Amedisys, Inc. (a) | 22,677 | 2,383,806 | ||||||
AmerisourceBergen Corp. | 53,668 | 7,592,949 | ||||||
Centene Corp. (a) | 70,991 | 6,006,549 | ||||||
Cigna Corp. | 53,494 | 14,096,739 | ||||||
CVS Health Corp. | 45,115 | 4,180,356 | ||||||
Elevance Health, Inc. (b) | 35,882 | 17,315,936 | ||||||
Encompass Health Corp. | 43,989 | 2,465,583 | ||||||
Guardant Health, Inc. (a) | 11,675 | 470,969 | ||||||
HCA Healthcare, Inc. | 8,085 | 1,358,765 | ||||||
Henry Schein, Inc. (a) | 14,175 | 1,087,789 | ||||||
LHC Group, Inc. (a) | 20,224 | 3,149,686 | ||||||
McKesson Corp. | 23,385 | 7,628,421 | ||||||
Quest Diagnostics, Inc. | 58,849 | 7,825,740 | ||||||
UnitedHealth Group, Inc. (b) | 105,815 | 54,349,758 | ||||||
131,922,313 | ||||||||
Health Care Technology — 0.1% | ||||||||
Teladoc Health, Inc. (a) | 18,461 | 613,090 | ||||||
Life Sciences Tools & Services — 10.6% | ||||||||
10X Genomics, Inc., Class A (a) | 8,445 | 382,136 | ||||||
Agilent Technologies, Inc. | 62,230 | 7,391,057 | ||||||
Avantor, Inc. (a) | 125,192 | 3,893,471 | ||||||
Danaher Corp. | 53,025 | 13,442,898 | ||||||
Icon PLC (a) | 9,290 | 2,013,143 | ||||||
IQVIA Holdings, Inc. (a) | 22,533 | 4,889,436 | ||||||
IsoPlexis Corp. (a) | 30,336 | 65,526 | ||||||
Nautilus Biotechnology, Inc. (a) | 16,560 | 44,546 | ||||||
QIAGEN NV (a) | 25,121 | 1,185,711 | ||||||
Rapid Micro Biosystems, Inc., Class A (a)(d) | 20,561 | 88,412 | ||||||
Thermo Fisher Scientific, Inc. (e) | 41,358 | 22,468,974 | ||||||
Waters Corp. (a) | 10,760 | 3,561,345 | ||||||
West Pharmaceutical Services, Inc. | 2,815 | 851,172 | ||||||
60,277,827 | ||||||||
Pharmaceuticals — 27.2% | ||||||||
AstraZeneca PLC | 75,201 | 9,920,646 | ||||||
AstraZeneca PLC, ADR | 24,607 | 1,625,784 | ||||||
Bristol-Myers Squibb Co. | 108,356 | 8,343,412 | ||||||
Daiichi Sankyo Co. Ltd. | 104,800 | 2,665,324 | ||||||
Eli Lilly & Co. | 87,986 | 28,527,701 | ||||||
Hansoh Pharmaceutical Group Co. Ltd. (c) | 882,438 | 1,786,883 | ||||||
Johnson & Johnson (b)(e) | 171,201 | 30,389,890 | ||||||
Merck & Co., Inc. (b) | 221,709 | 20,213,210 | ||||||
Pfizer, Inc. (b) | 466,186 | 24,442,132 | ||||||
Roche Holding AG | 5,766 | 1,927,573 |
68 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust (BME) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Pharmaceuticals (continued) | ||||||||
Sanofi | 81,522 | $ | 8,221,170 | |||||
Sanofi, ADR | 62,750 | 3,139,382 | ||||||
Zoetis, Inc., Class A | 74,312 | 12,773,490 | ||||||
153,976,597 | ||||||||
Total Common Stocks — 94.6% (Cost: $385,232,243) | 535,496,099 | |||||||
Benefical Interest (000) | ||||||||
Other Interests | ||||||||
Pharmaceuticals — 0.0% | ||||||||
Afferent Pharmaceuticals, Inc. (f)(g) | $ | 190 | 150,226 | |||||
Total Other Interests — 0.0% (Cost: $ — ) | 150,226 | |||||||
Shares | ||||||||
Preferred Securities | ||||||||
Preferred Stocks — 0.9% (f)(h) | ||||||||
Biotechnology — 0.3% | ||||||||
Affinvax, Inc., Series C, (Acquired 01/06/21, Cost: $199,992) | 6,331 | 400,816 | ||||||
Cellarity, Inc., Series B, (Acquired 01/15/21, Cost: $265,002) | 44,167 | 212,002 | ||||||
Goldfinch Biopharma, Inc., Series B, (Acquired 06/26/20, Cost: $224,200) | 190,000 | 254,600 | ||||||
Laronde, Inc., Series B, (Acquired 07/28/21, Cost: $590,800) | 21,100 | 531,720 | ||||||
Neurogene, Inc., Series B, (Acquired 12/14/20, Cost: $260,568) | 106,790 | 260,567 | ||||||
1,659,705 | ||||||||
Health Care Equipment & Supplies — 0.3% | ||||||||
Exo Imaging, Inc., Series C, (Acquired 06/24/21, Cost: $595,999) | 101,741 | 397,807 | ||||||
Nucleix Ltd., Series AA, (Acquired 03/25/21, Cost: $1,070,001) | 367,395 | 988,292 | ||||||
Quanta Dialysis Technologies Ltd., Series D, (Acquired 06/18/21, Cost: $515,759) | 4,243,029 | 340,893 | ||||||
Swift Health Systems, Inc., Series D, (Acquired 08/27/21, Cost: $286,998) | 92,580 | 205,528 | ||||||
1,932,520 | ||||||||
Pharmaceuticals — 0.1% | ||||||||
Insitro, Inc., Series C, (Acquired 03/10/21, Cost: $560,000) | 30,616 | 391,885 | ||||||
Software — 0.2% | ||||||||
Carbon Health Technologies, Inc., (Acquired 07/09/21, Cost: $907,000) | 907 | 892,189 | ||||||
4,876,299 | ||||||||
Total Preferred Securities — 0.9% (Cost: $5,476,319) | 4,876,299 | |||||||
Security | Shares | Value | ||||||
Warrants | ||||||||
Diversified Financial Services — 0.0% | ||||||||
Health Assurance Acquisition Corp. (Expires 11/12/2025) (a) | 12,859 | $ | 1,733 | |||||
Health Care Providers & Services — 0.0% | ||||||||
CareMax, Inc. (Expires 06/08/2026) (a) | 4,201 | 2,731 | ||||||
Pharmaceuticals — 0.0% | ||||||||
Nuvation Bio, Inc. (Expires 7/7/2027) (a) | 4,050 | 1,134 | ||||||
Total Warrants — 0.0% (Cost: $53,161) | 5,598 | |||||||
Total Long-Term Investments — 95.5% (Cost: $390,761,723) | 540,528,222 | |||||||
Short-Term Securities | ||||||||
Money Market Funds — 5.7% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33% (i)(j) | 31,712,586 | 31,712,585 | ||||||
SL Liquidity Series, LLC, Money Market Series, 1.73% (i)(j)(k) | 588,991 | 588,874 | ||||||
Total Short-Term Securities — 5.7% (Cost: $32,301,485) | 32,301,459 | |||||||
Total Investments Before Options Written — 101.2% (Cost: $423,063,208) | 572,829,681 | |||||||
Options Written — (1.1)% (Premiums Received: $(4,879,676)) | (6,201,260 | ) | ||||||
Total Investments, Net of Options Written — 100.1% (Cost: $418,183,532) | 566,628,421 | |||||||
Liabilities in Excess of Other Assets — (0.1)% | (567,492 | ) | ||||||
Net Assets — 100.0% | $ | 566,060,929 | ||||||
(a) | Non-income producing security. |
(b) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(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) | All or a portion of this security is on loan. |
(e) | All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives. |
(f) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(g) | Other interests represent beneficial interests in liquidation trusts and other reorganization or private entities. |
(h) | Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $4,876,299, representing 0.9% of its net assets as of period end, and an original cost of $5,476,319. |
(i) | Affiliate of the Trust. |
(j) | Annualized 7-day yield as of period end. |
(k) | 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 IN V E S T M E N T S | 69 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust (BME) |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 27,581,316 | $ | 4,131,269 | (a) | $ | — | $ | — | $ | — | $ | 31,712,585 | 31,712,586 | $ | 58,372 | $ | — | ||||||||||||||||||
SL Liquidity Series, LLC, Money Market Series | 211,489 | 377,587 | (a) | — | (184 | ) | (18 | ) | 588,874 | 588,991 | 6,274 | (b) | — | |||||||||||||||||||||||
$ | (184 | ) | $ | (18 | ) | $ | 32,301,459 | $ | 64,646 | $ | — | |||||||||||||||||||||||||
(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. |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call | ||||||||||||||||||||||||
AmerisourceBergen Corp. | 44 | 07/01/22 | USD | 160.00 | USD | 623 | $ | (1,100) | ||||||||||||||||
Baxter International, Inc. | 124 | 07/01/22 | USD | 75.00 | USD | 796 | (620) | |||||||||||||||||
Biogen, Inc. | 75 | 07/01/22 | USD | 205.00 | USD | 1,530 | (10,125) | |||||||||||||||||
Boston Scientific Corp. | 86 | 07/01/22 | USD | 41.00 | USD | 321 | (6,450) | |||||||||||||||||
Centene Corp. | 112 | 07/01/22 | USD | 86.00 | USD | 948 | (1,400) | |||||||||||||||||
Cigna Corp. | 111 | 07/01/22 | USD | 265.00 | USD | 2,925 | (18,037) | |||||||||||||||||
McKesson Corp. | 19 | 07/01/22 | USD | 330.00 | USD | 620 | (1,663) | |||||||||||||||||
UnitedHealth Group, Inc. | 65 | 07/01/22 | USD | 505.00 | USD | 3,339 | (64,187) | |||||||||||||||||
Abbott Laboratories | 170 | 07/08/22 | USD | 109.00 | USD | 1,847 | (25,585) | |||||||||||||||||
AbbVie, Inc. | 201 | 07/08/22 | USD | 150.00 | USD | 3,079 | (92,460) | |||||||||||||||||
AmerisourceBergen Corp. | 136 | 07/08/22 | USD | 155.00 | USD | 1,924 | (28,560) | |||||||||||||||||
Amgen, Inc. | 59 | 07/08/22 | USD | 245.00 | USD | 1,435 | (11,889) | |||||||||||||||||
Anthem, Inc. | 50 | 07/08/22 | USD | 465.00 | USD | 2,413 | (100,750) | |||||||||||||||||
Anthem, Inc. | 18 | 07/08/22 | USD | 477.50 | USD | 869 | (19,980) | |||||||||||||||||
Baxter International, Inc. | 18 | 07/08/22 | USD | 67.50 | USD | 116 | (900) | |||||||||||||||||
Biogen, Inc. | 74 | 07/08/22 | USD | 210.00 | USD | 1,509 | (14,060) | |||||||||||||||||
Centene Corp. | 87 | 07/08/22 | USD | 85.00 | USD | 736 | (11,528) | |||||||||||||||||
Cigna Corp. | 70 | 07/08/22 | USD | 260.00 | USD | 1,845 | (48,300) | |||||||||||||||||
Edwards Lifesciences Corp. | 117 | 07/08/22 | USD | 105.00 | USD | 1,113 | (26,325) | |||||||||||||||||
McKesson Corp. | 32 | 07/08/22 | USD | 345.00 | USD | 1,044 | (3,840) | |||||||||||||||||
UnitedHealth Group, Inc. | 2 | 07/08/22 | USD | 515.00 | USD | 103 | (1,650) | |||||||||||||||||
Vertex Pharmaceuticals, Inc. | 55 | 07/08/22 | USD | 285.00 | USD | 1,550 | (17,050) | |||||||||||||||||
10X Genomics, Inc., Class A | 32 | 07/15/22 | USD | 40.00 | USD | 145 | (22,560) | |||||||||||||||||
Abbott Laboratories | 236 | 07/15/22 | USD | 120.00 | USD | 2,564 | (2,006) | |||||||||||||||||
ABIOMED, Inc. | 29 | 07/15/22 | USD | 272.00 | USD | 718 | (4,185) | |||||||||||||||||
Agilent Technologies, Inc. | 30 | 07/15/22 | USD | 130.00 | USD | 356 | (825) | |||||||||||||||||
Agilent Technologies, Inc. | 60 | 07/15/22 | USD | 135.00 | USD | 713 | (4,500) | |||||||||||||||||
Agilent Technologies, Inc. | 20 | 07/15/22 | USD | 120.00 | USD | 238 | (4,900) | |||||||||||||||||
Agilon Health, Inc. | 41 | 07/15/22 | USD | 22.50 | USD | 90 | (3,895) | |||||||||||||||||
Alkermes PLC | 20 | 07/15/22 | USD | 31.00 | USD | 60 | (1,950) | |||||||||||||||||
Alnylam Pharmaceuticals, Inc. | 43 | 07/15/22 | USD | 160.00 | USD | 627 | (45,795) | |||||||||||||||||
Amedisys, Inc. | 40 | 07/15/22 | USD | 135.00 | USD | 420 | (11,200) | |||||||||||||||||
AmerisourceBergen Corp. | 3 | 07/15/22 | USD | 150.00 | USD | 42 | (135) | |||||||||||||||||
Amgen, Inc. | 70 | 07/15/22 | USD | 250.00 | USD | 1,703 | (9,590) | |||||||||||||||||
Anthem, Inc. | 50 | 07/15/22 | USD | 480.00 | USD | 2,413 | (62,750) | |||||||||||||||||
Arcutis Biotherapeutics, Inc. | 54 | 07/15/22 | USD | 25.00 | USD | 115 | (1,755) | |||||||||||||||||
Argenx SE | 8 | 07/15/22 | USD | 350.00 | USD | 303 | (26,680) | |||||||||||||||||
Avantor, Inc. | 245 | 07/15/22 | USD | 31.25 | USD | 762 | (18,644) | |||||||||||||||||
Baxter International, Inc. | 17 | 07/15/22 | USD | 67.50 | USD | 109 | (595) | |||||||||||||||||
Baxter International, Inc. | 79 | 07/15/22 | USD | 68.00 | USD | 507 | (4,740) | |||||||||||||||||
BioMarin Pharmaceutical, Inc. | 61 | 07/15/22 | USD | 90.00 | USD | 506 | (3,965) |
70 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust (BME) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
BioMarin Pharmaceutical, Inc. | 2 | 07/15/22 | USD | 85.00 | USD | 17 | $ | (290) | ||||||||||||||||
Boston Scientific Corp. | 43 | 07/15/22 | USD | 40.00 | USD | 160 | (968) | |||||||||||||||||
Centene Corp. | 70 | 07/15/22 | USD | 87.50 | USD | 592 | (7,350) | |||||||||||||||||
Cerevel Therapeutics Holdings, Inc. | 31 | 07/15/22 | USD | 30.00 | USD | 82 | (5,270) | |||||||||||||||||
Cigna Corp. | 22 | 07/15/22 | USD | 270.00 | USD | 580 | (8,910) | |||||||||||||||||
Cooper Cos., Inc. | 13 | 07/15/22 | USD | 350.00 | USD | 407 | (6,240) | |||||||||||||||||
Danaher Corp. | 79 | 07/15/22 | USD | 270.00 | USD | 2,003 | (11,060) | |||||||||||||||||
Danaher Corp. | 10 | 07/15/22 | USD | 250.00 | USD | 254 | (9,150) | |||||||||||||||||
DexCom, Inc. | 84 | 07/15/22 | USD | 85.00 | USD | 626 | (3,990) | |||||||||||||||||
Eli Lilly & Co. | 125 | 07/15/22 | USD | 320.00 | USD | 4,053 | (140,312) | |||||||||||||||||
Encompass Health Corp. | 167 | 07/15/22 | USD | 60.00 | USD | 936 | (16,700) | |||||||||||||||||
Exact Sciences Corp. | 58 | 07/15/22 | USD | 45.00 | USD | 228 | (3,770) | |||||||||||||||||
Gilead Sciences, Inc. | 38 | 07/15/22 | USD | 63.00 | USD | 235 | (2,223) | |||||||||||||||||
Guardant Health, Inc. | 22 | 07/15/22 | USD | 45.00 | USD | 89 | (2,365) | |||||||||||||||||
Henry Schein, Inc. | 80 | 07/15/22 | USD | 80.00 | USD | 614 | (6,000) | |||||||||||||||||
Horizon Therapeutics PLC | 41 | 07/15/22 | USD | 100.00 | USD | 327 | (9,123) | |||||||||||||||||
Immunocore Holdings PLC | 18 | 07/15/22 | USD | 30.00 | USD | 67 | (15,390) | |||||||||||||||||
Incyte Corp. | 102 | 07/15/22 | USD | 72.50 | USD | 775 | (41,565) | |||||||||||||||||
Insulet Corp. | 13 | 07/15/22 | USD | 220.00 | USD | 283 | (12,350) | |||||||||||||||||
Intuitive Surgical, Inc. | 57 | 07/15/22 | USD | 240.00 | USD | 1,144 | (2,138) | |||||||||||||||||
Intuitive Surgical, Inc. | 20 | 07/15/22 | USD | 215.00 | USD | 401 | (4,500) | |||||||||||||||||
Ionis Pharmaceuticals, Inc. | 14 | 07/15/22 | USD | 45.00 | USD | 52 | (245) | |||||||||||||||||
Ionis Pharmaceuticals, Inc. | 14 | 07/15/22 | USD | 40.00 | USD | 52 | (980) | |||||||||||||||||
IQVIA Holdings, Inc. | 26 | 07/15/22 | USD | 210.00 | USD | 564 | (27,430) | |||||||||||||||||
Johnson & Johnson | 78 | 07/15/22 | USD | 180.00 | USD | 1,385 | (14,118) | |||||||||||||||||
Johnson & Johnson | 78 | 07/15/22 | USD | 182.50 | USD | 1,385 | (7,722) | |||||||||||||||||
Krystal Biotech, Inc. | 10 | 07/15/22 | USD | 60.00 | USD | 66 | (7,100) | |||||||||||||||||
Merck & Co., Inc. | 336 | 07/15/22 | USD | 92.50 | USD | 3,063 | (42,504) | |||||||||||||||||
Moderna, Inc. | 58 | 07/15/22 | USD | 145.00 | USD | 829 | (40,455) | |||||||||||||||||
Neurocrine Biosciences, Inc. | 44 | 07/15/22 | USD | 90.00 | USD | 429 | (36,740) | |||||||||||||||||
Nevro Corp. | 61 | 07/15/22 | USD | 45.00 | USD | 267 | (12,505) | |||||||||||||||||
Novocure Ltd. | 40 | 07/15/22 | USD | 75.00 | USD | 278 | (7,600) | |||||||||||||||||
Pfizer, Inc. | 199 | 07/15/22 | USD | 55.00 | USD | 1,043 | (7,861) | |||||||||||||||||
Qiagen NV | 17 | 07/15/22 | USD | 45.00 | USD | 80 | (4,505) | |||||||||||||||||
Quest Diagnostics, Inc. | 46 | 07/15/22 | USD | 150.00 | USD | 612 | (5,175) | |||||||||||||||||
Regeneron Pharmaceuticals, Inc. | 22 | 07/15/22 | USD | 690.00 | USD | 1,300 | (1,980) | |||||||||||||||||
ResMed, Inc. | 35 | 07/15/22 | USD | 210.00 | USD | 734 | (19,075) | |||||||||||||||||
ResMed, Inc. | 43 | 07/15/22 | USD | 220.00 | USD | 901 | (8,385) | |||||||||||||||||
Revolution Medicines, Inc. | 20 | 07/15/22 | USD | 22.50 | USD | 39 | (550) | |||||||||||||||||
Sanofi, ADR | 134 | 07/15/22 | USD | 55.00 | USD | 670 | (1,675) | |||||||||||||||||
Sarepta Therapeutics, Inc. | 59 | 07/15/22 | USD | 85.00 | USD | 442 | (13,275) | |||||||||||||||||
Seagen, Inc. | 64 | 07/15/22 | USD | 155.00 | USD | 1,132 | (156,800) | |||||||||||||||||
Teladoc Health, Inc. | 30 | 07/15/22 | USD | 40.00 | USD | 100 | (1,170) | |||||||||||||||||
UnitedHealth Group, Inc. | 209 | 07/15/22 | USD | 480.00 | USD | 10,735 | (784,272) | |||||||||||||||||
Vertex Pharmaceuticals, Inc. | 54 | 07/15/22 | USD | 285.00 | USD | 1,522 | (33,210) | |||||||||||||||||
West Pharmaceutical Services, Inc. | 5 | 07/15/22 | USD | 310.00 | USD | 151 | (2,950) | |||||||||||||||||
Zimmer Biomet Holdings, Inc. | 40 | 07/15/22 | USD | 115.00 | USD | 420 | (1,100) | |||||||||||||||||
Zoetis, Inc., Class A | 119 | 07/15/22 | USD | 175.00 | USD | 2,045 | (26,180) | |||||||||||||||||
Zoetis, Inc., Class A | 39 | 07/15/22 | USD | 180.00 | USD | 670 | (6,435) | |||||||||||||||||
Abbott Laboratories | 103 | 07/22/22 | USD | 112.00 | USD | 1,119 | (16,377) | |||||||||||||||||
AbbVie, Inc. | 201 | 07/22/22 | USD | 150.00 | USD | 3,079 | (111,555) | |||||||||||||||||
AmerisourceBergen Corp. | 17 | 07/22/22 | USD | 155.00 | USD | 241 | (808) | |||||||||||||||||
Amgen, Inc. | 60 | 07/22/22 | USD | 250.00 | USD | 1,460 | (16,470) | |||||||||||||||||
Anthem, Inc. | 19 | 07/22/22 | USD | 485.00 | USD | 917 | (28,025) | |||||||||||||||||
AstraZeneca PLC | 93 | 07/22/22 | USD | 65.00 | USD | 614 | (22,785) | |||||||||||||||||
Baxter International, Inc. | 77 | 07/22/22 | USD | 75.00 | USD | 495 | (9,625) | |||||||||||||||||
Boston Scientific Corp. | 273 | 07/22/22 | USD | 43.00 | USD | 1,017 | (17,745) | |||||||||||||||||
Bristol-Myers Squibb Co. | 287 | 07/22/22 | USD | 78.00 | USD | 2,210 | (34,153) | |||||||||||||||||
CVS Health Corp. | 25 | 07/22/22 | USD | 97.00 | USD | 232 | (1,650) | |||||||||||||||||
Gilead Sciences, Inc. | 82 | 07/22/22 | USD | 63.00 | USD | 507 | (7,380) | |||||||||||||||||
Gilead Sciences, Inc. | 100 | 07/22/22 | USD | 61.00 | USD | 618 | (27,600) | |||||||||||||||||
Gilead Sciences, Inc. | 39 | 07/22/22 | USD | 65.00 | USD | 241 | (1,326) |
S C H E D U L E O F IN V E S T M E N T S | 71 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust (BME) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Johnson & Johnson | 338 | 07/22/22 | USD | 180.00 | USD | 6,000 | $ | (92,950) | ||||||||||||||||
McKesson Corp. | 17 | 07/22/22 | USD | 330.00 | USD | 555 | (11,730) | |||||||||||||||||
Medtronic PLC | 93 | 07/22/22 | USD | 99.00 | USD | 835 | (3,348) | |||||||||||||||||
Merck & Co., Inc. | 260 | 07/22/22 | USD | 92.00 | USD | 2,370 | (48,100) | |||||||||||||||||
Moderna, Inc. | 53 | 07/22/22 | USD | 140.00 | USD | 757 | (59,227) | |||||||||||||||||
Pfizer, Inc. | 199 | 07/22/22 | USD | 55.00 | USD | 1,043 | (11,244) | |||||||||||||||||
Pfizer, Inc. | 138 | 07/22/22 | USD | 52.00 | USD | 724 | (24,909) | |||||||||||||||||
Teladoc Health, Inc. | 30 | 07/22/22 | USD | 38.00 | USD | 100 | (3,180) | |||||||||||||||||
UnitedHealth Group, Inc. | 126 | 07/22/22 | USD | 505.00 | USD | 6,472 | (280,980) | |||||||||||||||||
Vertex Pharmaceuticals, Inc. | 50 | 07/22/22 | USD | 270.00 | USD | 1,409 | (80,750) | |||||||||||||||||
Waters Corp. | 40 | 07/28/22 | USD | 333.00 | USD | 1,324 | (50,547) | |||||||||||||||||
Abbott Laboratories | 169 | 07/29/22 | USD | 111.00 | USD | 1,836 | (40,306) | |||||||||||||||||
AmerisourceBergen Corp. | 1 | 07/29/22 | USD | 150.00 | USD | 14 | (133) | |||||||||||||||||
AmerisourceBergen Corp. | 2 | 07/29/22 | USD | 155.00 | USD | 28 | (125) | |||||||||||||||||
Amgen, Inc. | 66 | 07/29/22 | USD | 250.00 | USD | 1,606 | (20,031) | |||||||||||||||||
Baxter International, Inc. | 40 | 07/29/22 | USD | 70.00 | USD | 257 | (2,200) | |||||||||||||||||
Boston Scientific Corp. | 265 | 07/29/22 | USD | 37.00 | USD | 988 | (47,037) | |||||||||||||||||
CVS Health Corp. | 108 | 07/29/22 | USD | 92.00 | USD | 1,001 | (32,238) | |||||||||||||||||
Edwards Lifesciences Corp. | 89 | 07/29/22 | USD | 90.00 | USD | 846 | (69,420) | |||||||||||||||||
Eli Lilly & Co. | 209 | 07/29/22 | USD | 325.00 | USD | 6,776 | (245,052) | |||||||||||||||||
Gilead Sciences, Inc. | 254 | 07/29/22 | USD | 60.00 | USD | 1,570 | (89,408) | |||||||||||||||||
Johnson & Johnson | 155 | 07/29/22 | USD | 175.00 | USD | 2,751 | (93,775) | |||||||||||||||||
Medtronic PLC | 22 | 07/29/22 | USD | 95.00 | USD | 197 | (1,254) | |||||||||||||||||
Medtronic PLC | 108 | 07/29/22 | USD | 90.00 | USD | 969 | (23,220) | |||||||||||||||||
Sarepta Therapeutics, Inc. | 17 | 07/29/22 | USD | 80.00 | USD | 127 | (6,630) | |||||||||||||||||
Abbott Laboratories | 100 | 08/05/22 | USD | 111.00 | USD | 1,087 | (27,850) | |||||||||||||||||
Boston Scientific Corp. | 323 | 08/05/22 | USD | 40.00 | USD | 1,204 | (23,417) | |||||||||||||||||
Bristol-Myers Squibb Co. | 124 | 08/05/22 | USD | 79.00 | USD | 955 | (18,166) | |||||||||||||||||
CVS Health Corp. | 38 | 08/05/22 | USD | 97.00 | USD | 352 | (5,529) | |||||||||||||||||
Medtronic PLC | 125 | 08/05/22 | USD | 92.00 | USD | 1,122 | (31,875) | |||||||||||||||||
Pfizer, Inc. | 820 | 08/05/22 | USD | 53.00 | USD | 4,299 | (141,040) | |||||||||||||||||
Teladoc Health, Inc. | 10 | 08/05/22 | USD | 39.00 | USD | 33 | (1,940) | |||||||||||||||||
AbbVie, Inc. | 104 | 08/19/22 | USD | 160.00 | USD | 1,593 | (31,356) | |||||||||||||||||
Agilent Technologies, Inc. | 83 | 08/19/22 | USD | 125.00 | USD | 986 | (29,880) | |||||||||||||||||
Agilon Health, Inc. | 40 | 08/19/22 | USD | 22.50 | USD | 87 | (8,900) | |||||||||||||||||
Alcon, Inc. | 28 | 08/19/22 | USD | 72.50 | USD | 196 | (6,300) | |||||||||||||||||
Alkermes PLC | 24 | 08/19/22 | USD | 30.00 | USD | 71 | (4,380) | |||||||||||||||||
Alnylam Pharmaceuticals, Inc. | 16 | 08/19/22 | USD | 170.00 | USD | 233 | (28,800) | |||||||||||||||||
Amedisys, Inc. | 45 | 08/19/22 | USD | 130.00 | USD | 473 | (8,775) | |||||||||||||||||
Arcutis Biotherapeutics, Inc. | 55 | 08/19/22 | USD | 22.50 | USD | 117 | (13,612) | |||||||||||||||||
Arcutis Biotherapeutics, Inc. | 53 | 08/19/22 | USD | 25.00 | USD | 113 | (5,830) | |||||||||||||||||
Argenx SE | 17 | 08/19/22 | USD | 370.00 | USD | 644 | (56,695) | |||||||||||||||||
Avantor, Inc. | 230 | 08/19/22 | USD | 32.50 | USD | 715 | (27,025) | |||||||||||||||||
Bausch & Lomb Corp. | 144 | 08/19/22 | USD | 17.50 | USD | 219 | (9,000) | |||||||||||||||||
BioMarin Pharmaceutical, Inc. | 67 | 08/19/22 | USD | 77.00 | USD | 555 | (61,537) | |||||||||||||||||
Cerevel Therapeutics Holdings, Inc. | 32 | 08/19/22 | USD | 35.00 | USD | 85 | (8,400) | |||||||||||||||||
Cooper Cos., Inc. | 6 | 08/19/22 | USD | 340.00 | USD | 188 | (3,300) | |||||||||||||||||
Danaher Corp. | 112 | 08/19/22 | USD | 280.00 | USD | 2,839 | (39,200) | |||||||||||||||||
DexCom, Inc. | 73 | 08/19/22 | USD | 75.00 | USD | 544 | (48,180) | |||||||||||||||||
Enanta Pharmaceuticals, Inc. | 11 | 08/19/22 | USD | 45.00 | USD | 52 | (7,865) | |||||||||||||||||
Genmab A/S | 64 | 08/19/22 | USD | 30.00 | USD | 208 | (25,120) | |||||||||||||||||
Guardant Health, Inc. | 22 | 08/19/22 | USD | 45.00 | USD | 89 | (7,920) | |||||||||||||||||
HCA Healthcare, Inc. | 44 | 08/19/22 | USD | 195.00 | USD | 739 | (9,790) | |||||||||||||||||
Horizon Therapeutics PLC | 40 | 08/19/22 | USD | 90.00 | USD | 319 | (9,600) | |||||||||||||||||
Icon PLC | 35 | 08/19/22 | USD | 220.00 | USD | 758 | (44,275) | |||||||||||||||||
IQVIA Holdings, Inc. | 26 | 08/19/22 | USD | 220.00 | USD | 564 | (26,390) | |||||||||||||||||
IQVIA Holdings, Inc. | 33 | 08/19/22 | USD | 230.00 | USD | 716 | (21,120) | |||||||||||||||||
Krystal Biotech, Inc. | 10 | 08/19/22 | USD | 60.00 | USD | 66 | (9,350) | |||||||||||||||||
Merck & Co., Inc. | 246 | 08/19/22 | USD | 95.00 | USD | 2,243 | (47,601) | |||||||||||||||||
Neurocrine Biosciences, Inc. | 44 | 08/19/22 | USD | 95.00 | USD | 429 | (34,320) | |||||||||||||||||
Omnicell, Inc. | 24 | 08/19/22 | USD | 125.00 | USD | 273 | (8,100) | |||||||||||||||||
Pfizer, Inc. | 415 | 08/19/22 | USD | 52.50 | USD | 2,176 | (96,280) |
72 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust (BME) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Qiagen NV | 78 | 08/19/22 | USD | 47.00 | USD | 368 | $ | (21,844) | ||||||||||||||||
Quest Diagnostics, Inc. | 40 | 08/19/22 | USD | 135.00 | USD | 532 | (17,400) | |||||||||||||||||
Quest Diagnostics, Inc. | 91 | 08/19/22 | USD | 145.00 | USD | 1,210 | (11,603) | |||||||||||||||||
Regeneron Pharmaceuticals, Inc. | 15 | 08/19/22 | USD | 615.00 | USD | 887 | (29,925) | |||||||||||||||||
Sanofi, ADR | 104 | 08/19/22 | USD | 51.25 | USD | 520 | (15,620) | |||||||||||||||||
Sarepta Therapeutics, Inc. | 10 | 08/19/22 | USD | 90.00 | USD | 75 | (2,375) | |||||||||||||||||
Seagen, Inc. | 111 | 08/19/22 | USD | 180.00 | USD | 1,964 | (150,405) | |||||||||||||||||
Stryker Corp. | 114 | 08/19/22 | USD | 210.00 | USD | 2,268 | (66,120) | |||||||||||||||||
Thermo Fisher Scientific, Inc. | 148 | 08/19/22 | USD | 550.00 | USD | 8,041 | (342,620) | |||||||||||||||||
Zimmer Biomet Holdings, Inc. | 15 | 08/19/22 | USD | 110.00 | USD | 158 | (4,950) | |||||||||||||||||
Zoetis, Inc., Class A | 116 | 08/19/22 | USD | 165.50 | USD | 1,994 | (140,046) | |||||||||||||||||
ABIOMED, Inc. | 25 | 09/16/22 | USD | 270.00 | USD | 619 | (35,375) | |||||||||||||||||
$ | (5,779,084) | |||||||||||||||||||||||
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
Daiichi Sankyo Co. Ltd. | Goldman Sachs International | 22,600 | 07/06/22 | JPY | 3,500.12 | JPY | 77,676 | $ | (6,388) | |||||||||||||||||||||
Roche Holding AG | Morgan Stanley & Co. International PLC | 1,100 | 07/06/22 | CHF | 330.67 | CHF | 350 | (587) | ||||||||||||||||||||||
Alkermes PLC | Citibank N.A. | 1,900 | 07/07/22 | USD | 31.06 | USD | 57 | (977) | ||||||||||||||||||||||
Alcon, Inc. | Barclays Bank PLC | 6,900 | 07/11/22 | USD | 75.62 | USD | 482 | (821) | ||||||||||||||||||||||
Alcon, Inc. | Citibank N.A. | 6,800 | 07/11/22 | USD | 74.49 | USD | 475 | (1,545) | ||||||||||||||||||||||
AstraZeneca PLC | Merrill Lynch International | 21,900 | 07/19/22 | GBP | 108.29 | GBP | 2,365 | (67,565) | ||||||||||||||||||||||
Daiichi Sankyo Co. Ltd. | Goldman Sachs International | 10,400 | 07/20/22 | JPY | 3,517.50 | JPY | 35,745 | (5,542) | ||||||||||||||||||||||
Alcon, Inc. | Bank of America N.A. | 3,700 | 07/25/22 | USD | 76.85 | USD | 259 | (1,515) | ||||||||||||||||||||||
Alkermes PLC | Citibank N.A. | 2,000 | 07/26/22 | USD | 30.69 | USD | 60 | (1,754) | ||||||||||||||||||||||
Teleflex, Inc. | Barclays Bank PLC | 1,500 | 07/26/22 | USD | 261.64 | USD | 369 | (5,853) | ||||||||||||||||||||||
West Pharmaceutical Services, Inc. | JPMorgan Chase Bank N.A. | 500 | 07/26/22 | USD | 316.62 | USD | 151 | (3,439) | ||||||||||||||||||||||
AstraZeneca PLC | Goldman Sachs International | 3,000 | 07/27/22 | GBP | 99.22 | GBP | 324 | (36,148) | ||||||||||||||||||||||
Agilent Technologies, Inc. | JPMorgan Chase Bank N.A. | 4,300 | 07/28/22 | USD | 118.64 | USD | 511 | (20,434) | ||||||||||||||||||||||
Hansoh Pharmaceutical Group Ltd. | Goldman Sachs International | 110,000 | 07/28/22 | HKD | 13.87 | HKD | 1,742 | (33,311) | ||||||||||||||||||||||
Insulet Corp. | Barclays Bank PLC | 1,300 | 07/28/22 | USD | 216.11 | USD | 283 | (19,220) | ||||||||||||||||||||||
Quest Diagnostics, Inc. | Bank of America N.A. | 4,600 | 07/28/22 | USD | 139.79 | USD | 612 | (8,594) | ||||||||||||||||||||||
Roche Holding AG | JPMorgan Chase Bank N.A. | 1,000 | 07/28/22 | CHF | 309.78 | CHF | 319 | (14,153) | ||||||||||||||||||||||
AstraZeneca PLC | Credit Suisse International | 3,000 | 08/03/22 | GBP | 99.13 | GBP | 324 | (38,424) | ||||||||||||||||||||||
Hansoh Pharmaceutical Group Ltd. | JPMorgan Chase Bank N.A. | 158,000 | 08/03/22 | HKD | 14.42 | HKD | 2,503 | (42,138) | ||||||||||||||||||||||
Ionis Pharmaceuticals, Inc. | Barclays Bank PLC | 2,900 | 08/03/22 | USD | 35.48 | USD | 107 | (10,484) | ||||||||||||||||||||||
Daiichi Sankyo Co. Ltd. | JPMorgan Chase Bank N.A. | 6,800 | 08/09/22 | JPY | 3,226.10 | JPY | 23,372 | (15,561) | ||||||||||||||||||||||
Sanofi | Credit Suisse International | 15,200 | 08/09/22 | EUR | 98.75 | EUR | 1,464 | (32,718) | ||||||||||||||||||||||
Sanofi | Goldman Sachs International | 15,700 | 08/09/22 | EUR | 98.21 | EUR | 1,513 | (37,130) | ||||||||||||||||||||||
Genmab A/S | Goldman Sachs International | 900 | 08/11/22 | DKK | 2,371.95 | DKK | 2,067 | (11,138) | ||||||||||||||||||||||
Hansoh Pharmaceutical Group Ltd. | Goldman Sachs International | 66,000 | 08/11/22 | HKD | 17.40 | HKD | 1,045 | (6,737) | ||||||||||||||||||||||
$ | (422,176) | |||||||||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 955,304 | $ | (2,276,888 | ) | $ | (6,201,260) |
S C H E D U L E O F IN V E S T M E N T S | 73 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust (BME) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 6,201,260 | $ | — | $ | — | $ | — | $ | 6,201,260 | ||||||||||||||
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options purchased (a) | $ | — | $ | — | $ | (274 | ) | $ | — | $ | — | $ | — | $ | (274 | ) | ||||||||||||
Options written | — | — | 6,064,252 | — | — | — | 6,064,252 | |||||||||||||||||||||
$ | — | $ | — | $ | 6,063,978 | $ | — | $ | — | $ | — | $ | 6,063,978 | |||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 2,413,383 | $ | — | $ | — | $ | — | $ | 2,413,383 | ||||||||||||||
(a) | Options purchased are included in net realized gain (loss) from investments — unaffiliated. |
Options: | ||||
Average value of option contracts purchased | $ | 25 | ||
Average value of option contracts written | $ | (6,807,414 | ) |
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 6,201,260 | ||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 6,201,260 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (5,779,084 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 422,176 | ||||
74 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust (BME) |
Counterparty | | Derivative Liabilities Subject to an MNA by Counterparty | | | Derivatives Available for Offset | | | Non-Cash Collateral Pledged | (a) | | Cash Collateral Pledged | | | Net Amount of Derivative Liabilities | (b) | |||||
Bank of America N.A. | $ | 10,109 | $ | — | $ | — | $ | — | $ | 10,109 | ||||||||||
Barclays Bank PLC | 36,378 | — | — | — | 36,378 | |||||||||||||||
Citibank N.A. | 4,276 | — | — | — | 4,276 | |||||||||||||||
Credit Suisse International | 71,142 | — | — | — | 71,142 | |||||||||||||||
Goldman Sachs International | 136,394 | — | (136,394 | ) | — | — | ||||||||||||||
JPMorgan Chase Bank N.A. | 95,725 | — | (95,725 | ) | — | — | ||||||||||||||
Merrill Lynch International | 67,565 | — | — | — | 67,565 | |||||||||||||||
Morgan Stanley & Co. International PLC | 587 | — | — | — | 587 | |||||||||||||||
$ | 422,176 | $ | — | $ | (232,119 | ) | $ | — | $ | 190,057 | ||||||||||
(a) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(b) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Statements of Assets and Liabilities. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Biotechnology | $ | 102,474,724 | $ | 898,094 | $ | — | $ | 103,372,818 | ||||||||
Diversified Financial Services | 1,448,624 | — | — | 1,448,624 | ||||||||||||
Health Care Equipment & Supplies | 83,884,830 | — | — | 83,884,830 | ||||||||||||
Health Care Providers & Services | 131,922,313 | — | — | 131,922,313 | ||||||||||||
Health Care Technology | 613,090 | — | — | 613,090 | ||||||||||||
Life Sciences Tools & Services | 60,277,827 | — | — | 60,277,827 | ||||||||||||
Pharmaceuticals | 129,455,001 | 24,521,596 | — | 153,976,597 | ||||||||||||
Other Interests | — | — | 150,226 | 150,226 | ||||||||||||
Preferred Securities | ||||||||||||||||
Preferred Stocks | — | — | 4,876,299 | 4,876,299 | ||||||||||||
Warrants | 5,598 | — | — | 5,598 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 31,712,585 | — | — | 31,712,585 | ||||||||||||
$ | 541,794,592 | $ | 25,419,690 | $ | 5,026,525 | 572,240,807 | ||||||||||
Investments Valued at NAV (a) | �� | 588,874 | ||||||||||||||
$ | 572,829,681 | |||||||||||||||
Derivative Financial Instruments (b) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (5,466,661 | ) | $ | (734,599 | ) | $ | — | $ | (6,201,260 | ) | |||||
(a) | 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. |
(b) | Derivative financial instruments are options written. Options written are shown at value. |
S C H E D U L E O F IN V E S T M E N T S | 75 |
Schedule of Investments (unaudited) June 30, 2022 | BlackRock Health Sciences Trust II (BMEZ) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Biotechnology — 31.6% | ||||||||
Abbisko Cayman Ltd., (Acquired 10/29/21, Cost: $14,841,983) (a) | 10,378,250 | $ | 4,734,941 | |||||
AbbVie, Inc. | 194,795 | 29,834,802 | ||||||
Acumen Pharmaceuticals, Inc. (b) | 1,426,503 | 6,704,564 | ||||||
Akouos, Inc. (b) | 287,850 | 1,350,016 | ||||||
Alkermes PLC (b) | 1,163,110 | 34,649,047 | ||||||
Alnylam Pharmaceuticals, Inc. (b)(c) | 88,342 | 12,884,681 | ||||||
Ambrx Biopharma, Inc., ADR (b) | 1,265,827 | 3,354,442 | ||||||
Annexon, Inc. (b) | 237,835 | 896,638 | ||||||
Applied Molecular Transport, Inc. (b) | 99,096 | 288,369 | ||||||
Arcutis Biotherapeutics, Inc. (b) | 511,332 | 10,896,485 | ||||||
Argenx SE, ADR (b) | 104,304 | 39,518,700 | ||||||
Arrowhead Pharmaceuticals, Inc. (b) | 81,025 | 2,852,890 | ||||||
Biogen, Inc. (b) | 71,495 | 14,580,690 | ||||||
Biohaven Pharmaceutical Holding Co. Ltd. (b) | 198,310 | 28,895,750 | ||||||
BioMarin Pharmaceutical, Inc. (b) | 365,103 | 30,256,086 | ||||||
Biomea Fusion, Inc. (b)(d) | 521,404 | 6,246,420 | ||||||
Cerevel Therapeutics Holdings, Inc. (b) | 266,656 | 7,050,385 | ||||||
Connect Biopharma Holdings Ltd. (b) | 1,125,262 | 978,978 | ||||||
Day One Biopharmaceuticals, Inc. (b) | 378,535 | 6,775,776 | ||||||
Decibel Therapeutics, Inc. (b) | 793,527 | 3,340,749 | ||||||
Design Therapeutics, Inc. (b) | 841,761 | 11,784,654 | ||||||
Enanta Pharmaceuticals, Inc. (b) | 20,508 | 969,413 | ||||||
Everest Medicines Ltd., (Acquired 05/29/20, Cost: $11,209,200) (a) | 3,113,667 | 8,928,163 | ||||||
Everest Medicines Ltd. (b)(e) | 433,000 | 1,244,077 | ||||||
Exact Sciences Corp. (b) | 239,870 | 9,448,479 | ||||||
Exelixis, Inc. (b) | 599,520 | 12,482,006 | ||||||
Fate Therapeutics, Inc. (b) | 54,634 | 1,353,831 | ||||||
Galapagos NV, ADR (b) | 74,410 | 4,152,078 | ||||||
Genmab A/S (b) | 34,827 | 11,299,439 | ||||||
Genmab A/S, ADR (b) | 114,086 | 3,706,654 | ||||||
Gilead Sciences, Inc | 254,765 | 15,747,025 | ||||||
Gracell Biotechnologies, Inc., ADR (b) | 340,846 | 1,874,653 | ||||||
Halozyme Therapeutics, Inc. (b) | 502,750 | 22,121,000 | ||||||
Horizon Therapeutics PLC (b) | 186,009 | 14,836,078 | ||||||
Imago Biosciences, Inc. (b) | 1,120,866 | 15,008,396 | ||||||
Immuneering Corp., Class A (b)(d) | 817,261 | 4,421,382 | ||||||
Immunocore Holdings PLC, ADR (b) | 59,868 | 2,233,675 | ||||||
Immunocore Ltd. | 321,900 | 12,010,089 | ||||||
ImmunoGen, Inc. (b) | 497,785 | 2,240,032 | ||||||
Insmed, Inc. (b) | 125,556 | 2,475,964 | ||||||
Ionis Pharmaceuticals, Inc. (b) | 468,285 | 17,335,911 | ||||||
Karuna Therapeutics, Inc. (b) | 32,205 | 4,074,255 | ||||||
Keros Therapeutics, Inc. (b) | 200,607 | 5,542,771 | ||||||
Kinnate Biopharma, Inc. (b) | 295,538 | 3,726,734 | ||||||
Kronos Bio, Inc. (b) | 284,272 | 1,034,750 | ||||||
Krystal Biotech, Inc. (b) | 86,357 | 5,670,201 | ||||||
Legend Biotech Corp., ADR (b) | 49,415 | 2,717,825 | ||||||
LianBio, ADR (b) | 615,188 | 1,328,806 | ||||||
Monte Rosa Therapeutics, Inc. (b)(d) | 764,573 | 7,393,421 | ||||||
MoonLake Immunotherapeutics (b)(d) | 216,150 | 1,134,788 | ||||||
Neurocrine Biosciences, Inc. (b) | 293,280 | 28,588,934 | ||||||
Omega Therapeutics, Inc. (b)(d) | 408,287 | 1,551,491 | ||||||
PMV Pharmaceuticals, Inc. (b) | 305,830 | 4,358,077 | ||||||
Point Biopharma Global, Inc. (b)(d) | 394,898 | 2,689,255 | ||||||
Prothena Corp. PLC (b) | 218,511 | 5,932,574 | ||||||
RAPT Therapeutics, Inc. (b) | 178,545 | 3,258,446 | ||||||
Revolution Medicines, Inc. (b) | 280,503 | 5,467,003 |
Security | Shares | Value | ||||||
Biotechnology (continued) | ||||||||
Sage Therapeutics, Inc. (b) | 62,405 | $ | 2,015,681 | |||||
Sarepta Therapeutics, Inc. (b)(c) | 459,519 | 34,445,544 | ||||||
Seagen, Inc. (b)(c)(f) | 79,130 | 14,001,262 | ||||||
Sierra Oncology, Inc. (b) | 200,737 | 11,038,528 | ||||||
Sigilon Therapeutics, Inc. (b) | 564,538 | 468,567 | ||||||
Talaris Therapeutics, Inc. (b) | 748,614 | 3,376,249 | ||||||
Tenaya Therapeutics, Inc. (b) | 165,729 | 933,054 | ||||||
TScan Therapeutics, Inc. (b) | 855,317 | 2,689,972 | ||||||
Twist Bioscience Corp. (b) | 204,550 | 7,151,068 | ||||||
Ultragenyx Pharmaceutical, Inc. (b) | 56,345 | 3,361,543 | ||||||
United Therapeutics Corp. (b)(c)(f) | 55,704 | 13,126,091 | ||||||
Vertex Pharmaceuticals, Inc. (b)(f) | 235,570 | 66,381,270 | ||||||
Zentalis Pharmaceuticals, Inc. (b) | 191,741 | 5,387,922 | ||||||
670,609,490 | ||||||||
Diversified Financial Services (b) — 2.3% | ||||||||
DA32 Life Science Tech Acquisition Corp., Class A (g) | 1,496,819 | 14,504,176 | ||||||
Eucrates Biomedical Acquisition Corp. (g) | 897,657 | 8,886,804 | ||||||
Health Assurance Acquisition Corp., Class A | 1,361,273 | 13,449,377 | ||||||
Health Sciences Acquisitions Corp. 2 | 233,344 | 2,324,106 | ||||||
MedTech Acquisition Corp., Class A | 917,284 | 9,026,075 | ||||||
48,190,538 | ||||||||
Electronic Equipment, Instruments & Components — 0.3% | ||||||||
908 Devices, Inc. (b) | 274,084 | 5,643,390 | ||||||
Health Care Equipment & Supplies — 21.3% | ||||||||
ABIOMED, Inc. (b)(c) | 98,636 | 24,413,396 | ||||||
Alcon, Inc. | 736,189 | 51,452,249 | ||||||
Align Technology, Inc. (b) | 36,710 | 8,688,156 | ||||||
Bausch & Lomb Corp. (b)(d) | 505,947 | 7,710,632 | ||||||
Baxter International, Inc. | 225,890 | 14,508,915 | ||||||
ConvaTec Group PLC (e) | 4,411,215 | 12,091,049 | ||||||
Cooper Cos., Inc. | 73,600 | 23,045,632 | ||||||
DexCom, Inc. (b) | 346,628 | 25,834,185 | ||||||
Edwards Lifesciences Corp. (b) | 173,153 | 16,465,119 | ||||||
Globus Medical, Inc., Class A (b) | 104,070 | 5,842,490 | ||||||
Hologic, Inc. (b)(c) | 269,455 | 18,673,231 | ||||||
Insulet Corp. (b) | 109,670 | 23,901,480 | ||||||
Intuitive Surgical, Inc. (b)(f) | 71,013 | 14,253,019 | ||||||
Nevro Corp. (b)(c) | 511,890 | 22,436,139 | ||||||
Novocure Ltd. (b) | 127,530 | 8,863,335 | ||||||
Nyxoah SA (b)(d) | 648,041 | 6,156,389 | ||||||
Omnicell, Inc. (b) | 140,725 | 16,007,469 | ||||||
Penumbra, Inc. (b) | 111,508 | 13,884,976 | ||||||
Pulmonx Corp. (b) | 183,221 | 2,697,013 | ||||||
ResMed, Inc. (c) | 196,756 | 41,245,960 | ||||||
SI-BONE, Inc. (b) | 204,910 | 2,704,812 | ||||||
Silk Road Medical, Inc. (b) | 204,932 | 7,457,475 | ||||||
Sonova Holding AG, Registered Shares | 47,915 | 15,312,740 | ||||||
STERIS PLC | 98,550 | 20,316,082 | ||||||
Tandem Diabetes Care, Inc. (b)(c) | 238,345 | 14,107,641 | ||||||
Teleflex, Inc. | 59,702 | 14,677,737 | ||||||
Zimmer Biomet Holdings, Inc. | 187,613 | 19,710,622 | ||||||
452,457,943 | ||||||||
Health Care Providers & Services — 12.2% | ||||||||
Addus HomeCare Corp. (b) | 42,050 | 3,501,924 | ||||||
Agilon Health, Inc. (b) | 282,683 | 6,170,970 | ||||||
Amedisys, Inc. (b) | 164,226 | 17,263,437 | ||||||
AmerisourceBergen Corp. | 193,455 | 27,370,013 | ||||||
Amplifon SpA | 291,905 | 8,974,490 |
76 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust II (BMEZ) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Health Care Providers & Services (continued) | ||||||||
Cano Health, Inc. (b) | 887,562 | $ | 3,887,522 | |||||
CareMax, Inc., (Acquired 07/22/21, Cost: $14,077,000) (a) | 1,407,700 | 5,109,951 | ||||||
Chemed Corp. | 10,662 | 5,004,636 | ||||||
CVS Health Corp. | 160,650 | 14,885,829 | ||||||
Elevance Health, Inc. | 45,345 | 21,882,590 | ||||||
Encompass Health Corp. (c) | 370,028 | 20,740,069 | ||||||
Guardant Health, Inc. (b) | 233,615 | 9,424,029 | ||||||
Henry Schein, Inc. (b) | 67,505 | 5,180,334 | ||||||
Kindstar Globalgene Technology, Inc. (b)(e) | 4,092,500 | 1,130,635 | ||||||
LHC Group, Inc. (b)(c) | 233,659 | 36,390,053 | ||||||
Quest Diagnostics, Inc. | 260,825 | 34,684,509 | ||||||
R1 RCM, Inc. (b) | 690,615 | 14,475,290 | ||||||
UnitedHealth Group, Inc. (c) | 45,900 | 23,575,617 | ||||||
259,651,898 | ||||||||
Health Care Technology (b) — 0.3% | ||||||||
Sophia Genetics SA | 291,485 | 1,055,176 | ||||||
Teladoc Health, Inc. | 184,446 | 6,125,451 | ||||||
7,180,627 | ||||||||
Life Sciences Tools & Services — 13.1% | ||||||||
10X Genomics, Inc., Class A (b) | 90,120 | 4,077,930 | ||||||
Agilent Technologies, Inc. | 218,710 | 25,976,187 | ||||||
Avantor, Inc. (b)(c) | 998,624 | 31,057,206 | ||||||
Bruker Corp. | 208,102 | 13,060,482 | ||||||
Cytek Biosciences, Inc. (b) | 840,842 | 9,022,235 | ||||||
Danaher Corp. | 62,605 | 15,871,620 | ||||||
Gerresheimer AG | 243,305 | 15,894,465 | ||||||
IQVIA Holdings, Inc. (b) | 100,512 | 21,810,099 | ||||||
IsoPlexis Corp. (b) | 1,601,113 | 3,458,404 | ||||||
Lonza Group AG, Registered Shares | 19,017 | 10,157,689 | ||||||
Mettler-Toledo International, Inc. (b)(c) | 9,350 | 10,741,000 | ||||||
QIAGEN NV (b) | 645,525 | 30,468,780 | ||||||
Rapid Micro Biosystems, Inc., Class A (b)(d) | 549,778 | 2,364,045 | ||||||
Sotera Health Co. (b) | 1,179,907 | 23,114,378 | ||||||
Waters Corp. (b) | 109,980 | 36,401,180 | ||||||
West Pharmaceutical Services, Inc. | 39,055 | 11,809,060 | ||||||
Wuxi Biologics Cayman, Inc. (b)(e) | 1,233,303 | 11,427,069 | ||||||
276,711,829 | ||||||||
Pharmaceuticals — 6.6% | ||||||||
Antengene Corp. Ltd., (Acquired 11/18/20, Cost: $7,091,948) (a) | 5,019,274 | 4,509,594 | ||||||
AstraZeneca PLC, ADR | 193,960 | 12,814,937 | ||||||
Daiichi Sankyo Co. Ltd. | 1,462,400 | 37,192,463 | ||||||
H Lundbeck A/S | 1,603,360 | 7,786,887 | ||||||
H Lundbeck A/S (b) | 400,840 | 1,923,566 | ||||||
Nuvation Bio, Inc. (b) | 200,496 | 649,607 | ||||||
Pfizer, Inc. | 234,765 | 12,308,729 |
Security | Shares | Value | ||||||
Pharmaceuticals (continued) | ||||||||
UCB SA | 344,377 | $ | 29,182,249 | |||||
Zoetis, Inc., Class A | 191,775 | 32,964,205 | ||||||
139,332,237 | ||||||||
Total Common Stocks — 87.7% (Cost: $2,043,027,812) | 1,859,777,952 | |||||||
Benefical Interest (000) | ||||||||
Other Interests | ||||||||
Biotechnology — 0.2% | ||||||||
Vividion Therapeutics, Inc. (h) | $ | 3,810 | 3,961,905 | |||||
Total Other Interests — 0.2% (Cost: $ — ) | 3,961,905 | |||||||
Shares | ||||||||
Preferred Securities | ||||||||
Preferred Stocks — 9.4% (h) | ||||||||
Biotechnology — 3.8% | ||||||||
Affinvax, Inc., Series C, (Acquired 01/06/21, Cost: $5,786,041) (a) | 183,164 | 11,596,113 | ||||||
Amunix Pharmaceuticals, Inc., Series B | 5,657,068 | 3,677,094 | ||||||
Bright Peak Therapeutics AG, Series B, (Acquired 05/14/21, Cost: $8,000,003) (a) | 2,048,132 | 4,342,040 | ||||||
Cellarity, Inc., Series B, (Acquired 01/15/21, Cost: $14,584,998) (a) | 2,430,833 | 11,667,998 | ||||||
Goldfinch Biopharma, Inc., Series B, (Acquired 06/26/20, Cost: $4,543,847) (a) | 3,850,718 | 5,159,962 | ||||||
Laronde, Inc., Series B, (Acquired 07/28/21, Cost: $13,498,156) (a) | 482,077 | 12,148,340 | ||||||
Mirvie, Inc., Series B, (Acquired 10/15/21, Cost: $6,250,000) (a) | 2,793,833 | 6,202,309 | ||||||
Neurogene, Inc., Series B, (Acquired 12/14/20, Cost: $9,549,916) (a) | 3,913,900 | 9,549,916 | ||||||
NiKang Therapeutics, Inc., Series C, (Acquired 05/20/21, Cost: $7,999,996) (a) | 1,394,189 | 5,716,175 | ||||||
Numab Therapeutics AG, (Acquired 05/07/21, Cost: $7,770,441) (a) | 815,851 | 6,597,570 | ||||||
OnKure, Inc., Series B, (Acquired 03/03/21, Cost: $4,500,001) (a) | 1,628,488 | 4,462,057 | ||||||
81,119,574 | ||||||||
Health Care Equipment & Supplies (a) — 1.4% | ||||||||
Exo Imaging, Inc., Series C, (Acquired 06/24/21, Cost: $13,225,003) | 2,257,597 | 8,827,205 | ||||||
Nucleix Ltd., Series AA, (Acquired 03/25/21, Cost: $6,929,998) | 2,379,480 | 6,400,801 |
S C H E D U L E O F IN V E S T M E N T S | 77 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust II (BMEZ) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Health Care Equipment & Supplies (continued) | ||||||||
Quanta Dialysis Technologies Ltd., Series D, (Acquired 06/18/21, Cost: $14,071,890) | 115,766,240 | $ | 9,300,870 | |||||
Swift Health Systems, Inc., Series D, (Acquired 08/27/21, Cost: $6,441,930) | 2,078,042 | 4,613,253 | ||||||
29,142,129 | ||||||||
Health Care Providers & Services (a) — 2.1% | ||||||||
Adicon Holdings Ltd., (Acquired 12/22/20, Cost: $17,840,000) | 10,696,226 | 21,285,490 | ||||||
Everly Well, Inc., Series D, (Acquired 11/25/20, Cost: $9,999,986) | 382,775 | 22,687,074 | ||||||
43,972,564 | ||||||||
Pharmaceuticals (a) — 0.6% | ||||||||
Insitro, Inc. Series B, (Acquired 05/21/20, Cost: $4,999,999) | 802,478 | 10,271,719 | ||||||
Series C, (Acquired 03/10/21, Cost: $3,600,018) | 196,818 | 2,519,270 | ||||||
12,790,989 | ||||||||
Semiconductors & Semiconductor Equipment — 0.7% | ||||||||
PsiQuantum Corp., Series C, (Acquired 05/21/21, Cost: $14,999,997) (a) | 571,947 | 14,618,965 | ||||||
Software — 0.8% | ||||||||
Carbon Health Technologies, Inc., (Acquired 07/09/21, Cost: $17,100,000) (a) | 17,100 | 16,820,757 | ||||||
198,464,978 | ||||||||
Total Preferred Securities — 9.4% (Cost: $191,692,220) | 198,464,978 | |||||||
Warrants | ||||||||
Diversified Financial Services (b) — 0.0% | ||||||||
Eucrates Biomedical Acquisition Corp. (Expires 12/14/2025) | 297,180 | 8,915 | ||||||
Health Assurance Acquisition Corp. (Expires 11/12/2025) | 202,809 | 27,339 | ||||||
36,254 | ||||||||
Health Care Providers & Services — 0.0% | ||||||||
CareMax, Inc. (Expires 06/08/2026) (b) | 63,808 | 41,475 | ||||||
Pharmaceuticals — 0.0% | ||||||||
Nuvation Bio, Inc. (Expires 7/7/2027) (b) | 68,880 | 19,287 | ||||||
Total Warrants — 0.0% (Cost: $1,262,989) | 97,016 | |||||||
Total Long-Term Investments — 97.3% (Cost: $2,235,983,021) | 2,062,301,851 | |||||||
Security | Shares | Value | ||||||
Short-Term Securities | ||||||||
Money Market Funds — 4.2% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33% (g)(i) | 81,844,430 | $ | 81,844,430 | |||||
SL Liquidity Series, LLC, Money Market Series, 1.73% (g)(i)(j) | 6,856,866 | 6,855,495 | ||||||
Total Short-Term Securities — 4.2% (Cost: $88,700,438) | 88,699,925 | |||||||
Total Investments Before Options Written — 101.5% (Cost: $2,324,683,459) | 2,151,001,776 | |||||||
Options Written — (0.9)% (Premiums Received: $(16,177,632)) | (19,713,887 | ) | ||||||
Total Investments, Net of Options Written — 100.6% (Cost: $2,308,505,827) | 2,131,287,889 | |||||||
Liabilities in Excess of Other Assets — (0.6)% | (11,740,476 | ) | ||||||
Net Assets — 100.0% | $ | 2,119,547,413 | ||||||
(a) | Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $218,070,533, representing 10.3% of its net assets as of period end, and an original cost of $238,912,351. |
(b) | Non-income producing security. |
(c) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(d) | All or a portion of this 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 has been pledged as collateral in connection with outstanding OTC derivatives. |
(g) | Affiliate of the Trust. |
(h) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(i) | Annualized 7-day yield as of period end. |
(j) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
78 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust II (BMEZ) |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 61,616,484 | $ | 20,227,946 | (a) | $ | — | $ | — | $ | — | $ | 81,844,430 | 81,844,430 | $ | 167,503 | $ | — | ||||||||||||||||||
DA32 Life Science Tech Acquisition Corp., Class A | 14,683,795 | — | — | — | (179,619 | ) | 14,504,176 | 1,496,819 | — | — | ||||||||||||||||||||||||||
Eucrates Biomedical Acquisition Corp. | 8,761,132 | — | — | — | 125,672 | 8,886,804 | 897,657 | — | — | |||||||||||||||||||||||||||
SL Liquidity Series, LLC, Money Market Series | 4,939,518 | 1,917,516 | (a) | — | (1,164 | ) | (375 | ) | 6,855,495 | 6,856,866 | 102,720 | (b) | — | |||||||||||||||||||||||
$ | (1,164 | ) | $ | (54,322 | ) | $ | 112,090,905 | $ | 270,223 | $ | — | |||||||||||||||||||||||||
(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. |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call | ||||||||||||||||||||||||
Biogen, Inc. | 53 | 07/01/22 | USD | 205.00 | USD | 1,081 | $ | (7,155 | ) | |||||||||||||||
Tandem Diabetes Care, Inc. | 131 | 07/01/22 | USD | 80.00 | USD | 775 | (52,400 | ) | ||||||||||||||||
AbbVie, Inc. | 41 | 07/08/22 | USD | 150.00 | USD | 628 | (18,860 | ) | ||||||||||||||||
AmerisourceBergen Corp. | 34 | 07/08/22 | USD | 155.00 | USD | 481 | (7,140 | ) | ||||||||||||||||
Anthem, Inc. | 124 | 07/08/22 | USD | 465.00 | USD | 5,984 | (249,860 | ) | ||||||||||||||||
AstraZeneca PLC | 310 | 07/08/22 | USD | 68.00 | USD | 2,048 | (9,145 | ) | ||||||||||||||||
Baxter International, Inc. | 180 | 07/08/22 | USD | 67.50 | USD | 1,156 | (9,000 | ) | ||||||||||||||||
Biogen, Inc. | 54 | 07/08/22 | USD | 210.00 | USD | 1,101 | (10,260 | ) | ||||||||||||||||
Edwards Lifesciences Corp. | 570 | 07/08/22 | USD | 105.00 | USD | 5,420 | (128,250 | ) | ||||||||||||||||
Exact Sciences Corp. | 265 | 07/08/22 | USD | 57.00 | USD | 1,044 | (82,150 | ) | ||||||||||||||||
UnitedHealth Group, Inc. | 146 | 07/08/22 | USD | 505.00 | USD | 7,499 | (213,890 | ) | ||||||||||||||||
Vertex Pharmaceuticals, Inc. | 222 | 07/08/22 | USD | 285.00 | USD | 6,256 | (68,820 | ) | ||||||||||||||||
10X Genomics, Inc., Class A | 288 | 07/15/22 | USD | 40.00 | USD | 1,303 | (203,040 | ) | ||||||||||||||||
908 Devices, Inc. | 225 | 07/15/22 | USD | 17.50 | USD | 463 | (91,687 | ) | ||||||||||||||||
AbbVie, Inc. | 271 | 07/15/22 | USD | 160.00 | USD | 4,151 | (18,564 | ) | ||||||||||||||||
ABIOMED, Inc. | 148 | 07/15/22 | USD | 272.00 | USD | 3,663 | (21,360 | ) | ||||||||||||||||
Addus HomeCare Corp. | 134 | 07/15/22 | USD | 85.00 | USD | 1,116 | (35,510 | ) | ||||||||||||||||
Agilent Technologies, Inc. | 283 | 07/15/22 | USD | 130.00 | USD | 3,361 | (7,783 | ) | ||||||||||||||||
Agilent Technologies, Inc. | 132 | 07/15/22 | USD | 120.00 | USD | 1,568 | (32,340 | ) | ||||||||||||||||
Agilon Health, Inc. | 684 | 07/15/22 | USD | 22.50 | USD | 1,493 | (64,980 | ) | ||||||||||||||||
Alkermes PLC | 885 | 07/15/22 | USD | 31.00 | USD | 2,636 | (86,287 | ) | ||||||||||||||||
Alnylam Pharmaceuticals, Inc. | 183 | 07/15/22 | USD | 160.00 | USD | 2,669 | (194,895 | ) | ||||||||||||||||
Amedisys, Inc. | 263 | 07/15/22 | USD | 135.00 | USD | 2,765 | (73,640 | ) | ||||||||||||||||
AmerisourceBergen Corp. | 162 | 07/15/22 | USD | 150.00 | USD | 2,292 | (7,290 | ) | ||||||||||||||||
Anthem, Inc. | 123 | 07/15/22 | USD | 480.00 | USD | 5,936 | (154,365 | ) | ||||||||||||||||
Arcutis Biotherapeutics, Inc. | 548 | 07/15/22 | USD | 25.00 | USD | 1,168 | (17,810 | ) | ||||||||||||||||
Argenx SE | 182 | 07/15/22 | USD | 350.00 | USD | 6,896 | (606,970 | ) | ||||||||||||||||
Arrowhead Pharmaceuticals, Inc. | 259 | 07/15/22 | USD | 40.00 | USD | 912 | (17,483 | ) | ||||||||||||||||
Avantor, Inc. | 1,410 | 07/15/22 | USD | 31.25 | USD | 4,385 | (107,297 | ) | ||||||||||||||||
Baxter International, Inc. | 181 | 07/15/22 | USD | 67.50 | USD | 1,163 | (6,335 | ) | ||||||||||||||||
Baxter International, Inc. | 181 | 07/15/22 | USD | 68.00 | USD | 1,163 | (10,860 | ) | ||||||||||||||||
Biogen, Inc. | 121 | 07/15/22 | USD | 220.00 | USD | 2,468 | (16,033 | ) | ||||||||||||||||
BioMarin Pharmaceutical, Inc. | 299 | 07/15/22 | USD | 90.00 | USD | 2,478 | (19,435 | ) | ||||||||||||||||
BioMarin Pharmaceutical, Inc. | 285 | 07/15/22 | USD | 85.00 | USD | 2,362 | (41,325 | ) | ||||||||||||||||
Bruker Corp. | 333 | 07/15/22 | USD | 65.00 | USD | 2,090 | (92,407 | ) | ||||||||||||||||
Cerevel Therapeutics Holdings, Inc. | 455 | 07/15/22 | USD | 30.00 | USD | 1,203 | (77,350 | ) | ||||||||||||||||
Cooper Cos., Inc. | 192 | 07/15/22 | USD | 350.00 | USD | 6,012 | (92,160 | ) | ||||||||||||||||
Danaher Corp. | 200 | 07/15/22 | USD | 250.00 | USD | 5,070 | (183,000 | ) | ||||||||||||||||
Day One Biopharmaceuticals, Inc. | 600 | 07/15/22 | USD | 20.00 | USD | 1,074 | (63,000 | ) |
S C H E D U L E O F IN V E S T M E N T S | 79 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust II (BMEZ) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
DexCom, Inc. | 580 | 07/15/22 | USD | 85.00 | USD | 4,323 | $ | (27,550 | ) | |||||||||||||||
Encompass Health Corp. | 1,184 | 07/15/22 | USD | 60.00 | USD | 6,636 | (118,400 | ) | ||||||||||||||||
Exact Sciences Corp. | 502 | 07/15/22 | USD | 45.00 | USD | 1,977 | (32,630 | ) | ||||||||||||||||
Fate Therapeutics, Inc. | 87 | 07/15/22 | USD | 30.00 | USD | 216 | (4,350 | ) | ||||||||||||||||
Galapagos NV | 238 | 07/15/22 | USD | 55.00 | USD | 1,328 | (55,335 | ) | ||||||||||||||||
Gilead Sciences, Inc. | 408 | 07/15/22 | USD | 63.00 | USD | 2,522 | (23,868 | ) | ||||||||||||||||
Globus Medical, Inc., Class A | 166 | 07/15/22 | USD | 60.00 | USD | 932 | (14,110 | ) | ||||||||||||||||
Guardant Health, Inc. | 499 | 07/15/22 | USD | 45.00 | USD | 2,013 | (53,643 | ) | ||||||||||||||||
Halozyme Therapeutics, Inc. | 804 | 07/15/22 | USD | 46.00 | USD | 3,538 | (82,410 | ) | ||||||||||||||||
Henry Schein, Inc. | 216 | 07/15/22 | USD | 80.00 | USD | 1,658 | (16,200 | ) | ||||||||||||||||
Hologic, Inc. | 862 | 07/15/22 | USD | 70.00 | USD | 5,974 | (109,905 | ) | ||||||||||||||||
Horizon Therapeutics PLC | 234 | 07/15/22 | USD | 100.00 | USD | 1,866 | (52,065 | ) | ||||||||||||||||
Horizon Therapeutics PLC | 239 | 07/15/22 | USD | 90.00 | USD | 1,906 | (13,743 | ) | ||||||||||||||||
Immunocore Holdings PLC | 96 | 07/15/22 | USD | 30.00 | USD | 358 | (82,080 | ) | ||||||||||||||||
Insmed, Inc. | 401 | 07/15/22 | USD | 20.00 | USD | 791 | (102,255 | ) | ||||||||||||||||
Insulet Corp. | 175 | 07/15/22 | USD | 220.00 | USD | 3,814 | (166,250 | ) | ||||||||||||||||
Intuitive Surgical, Inc. | 228 | 07/15/22 | USD | 240.00 | USD | 4,576 | (8,550 | ) | ||||||||||||||||
Ionis Pharmaceuticals, Inc. | 375 | 07/15/22 | USD | 45.00 | USD | 1,388 | (6,563 | ) | ||||||||||||||||
Ionis Pharmaceuticals, Inc. | 375 | 07/15/22 | USD | 40.00 | USD | 1,388 | (26,250 | ) | ||||||||||||||||
IQVIA Holdings, Inc. | 90 | 07/15/22 | USD | 210.00 | USD | 1,953 | (94,950 | ) | ||||||||||||||||
Karuna Therapeutics, Inc. | 51 | 07/15/22 | USD | 130.00 | USD | 645 | (73,440 | ) | ||||||||||||||||
Krystal Biotech, Inc. | 138 | 07/15/22 | USD | 60.00 | USD | 906 | (97,980 | ) | ||||||||||||||||
Mettler-Toledo International, Inc. | 29 | 07/15/22 | USD | 1,250.00 | USD | 3,331 | (11,020 | ) | ||||||||||||||||
Neurocrine Biosciences, Inc. | 469 | 07/15/22 | USD | 90.00 | USD | 4,572 | (391,615 | ) | ||||||||||||||||
Nevro Corp. | 409 | 07/15/22 | USD | 45.00 | USD | 1,793 | (83,845 | ) | ||||||||||||||||
Novocure Ltd. | 408 | 07/15/22 | USD | 75.00 | USD | 2,836 | (77,520 | ) | ||||||||||||||||
Penumbra, Inc. | 106 | 07/15/22 | USD | 170.00 | USD | 1,320 | (50,880 | ) | ||||||||||||||||
Pfizer, Inc. | 126 | 07/15/22 | USD | 55.00 | USD | 661 | (4,977 | ) | ||||||||||||||||
Pulmonx Corp. | 346 | 07/15/22 | USD | 22.50 | USD | 509 | (110,720 | ) | ||||||||||||||||
Qiagen NV | 799 | 07/15/22 | USD | 45.00 | USD | 3,771 | (211,735 | ) | ||||||||||||||||
Quest Diagnostics, Inc. | 172 | 07/15/22 | USD | 150.00 | USD | 2,287 | (19,350 | ) | ||||||||||||||||
R1 RCM, Inc. | 1,209 | 07/15/22 | USD | 25.25 | USD | 2,534 | (3,194 | ) | ||||||||||||||||
ResMed, Inc. | 294 | 07/15/22 | USD | 210.00 | USD | 6,163 | (160,230 | ) | ||||||||||||||||
ResMed, Inc. | 335 | 07/15/22 | USD | 220.00 | USD | 7,023 | (65,325 | ) | ||||||||||||||||
Revolution Medicines, Inc. | 450 | 07/15/22 | USD | 22.50 | USD | 877 | (12,375 | ) | ||||||||||||||||
Sarepta Therapeutics, Inc. | 340 | 07/15/22 | USD | 85.00 | USD | 2,549 | (76,500 | ) | ||||||||||||||||
Seagen, Inc. | 401 | 07/15/22 | USD | 155.00 | USD | 7,095 | (982,450 | ) | ||||||||||||||||
Silk Road Medical, Inc. | 293 | 07/15/22 | USD | 40.00 | USD | 1,066 | (28,568 | ) | ||||||||||||||||
STERIS PLC | 188 | 07/15/22 | USD | 240.00 | USD | 3,876 | (90,240 | ) | ||||||||||||||||
STERIS PLC | 127 | 07/15/22 | USD | 220.00 | USD | 2,618 | (15,240 | ) | ||||||||||||||||
Tandem Diabetes Care, Inc. | 300 | 07/15/22 | USD | 70.00 | USD | 1,776 | (11,250 | ) | ||||||||||||||||
Teladoc Health, Inc. | 200 | 07/15/22 | USD | 40.00 | USD | 664 | (7,800 | ) | ||||||||||||||||
Teleflex, Inc. | 99 | 07/15/22 | USD | 310.00 | USD | 2,434 | (47,520 | ) | ||||||||||||||||
United Therapeutics Corp. | 94 | 07/15/22 | USD | 200.00 | USD | 2,215 | (336,050 | ) | ||||||||||||||||
Vertex Pharmaceuticals, Inc. | 171 | 07/15/22 | USD | 285.00 | USD | 4,819 | (105,165 | ) | ||||||||||||||||
Waters Corp. | 59 | 07/15/22 | USD | 340.00 | USD | 1,953 | (32,450 | ) | ||||||||||||||||
Waters Corp. | 98 | 07/15/22 | USD | 350.00 | USD | 3,244 | (20,825 | ) | ||||||||||||||||
West Pharmaceutical Services, Inc. | 62 | 07/15/22 | USD | 310.00 | USD | 1,875 | (36,580 | ) | ||||||||||||||||
Zentalis Pharmaceuticals, Inc. | 353 | 07/15/22 | USD | 25.00 | USD | 992 | (139,435 | ) | ||||||||||||||||
Zimmer Biomet Holdings, Inc. | 250 | 07/15/22 | USD | 115.00 | USD | 2,627 | (6,875 | ) | ||||||||||||||||
Zoetis, Inc., Class A | 613 | 07/15/22 | USD | 180.00 | USD | 10,537 | (101,145 | ) | ||||||||||||||||
AbbVie, Inc. | 41 | 07/22/22 | USD | 150.00 | USD | 628 | (22,755 | ) | ||||||||||||||||
AmerisourceBergen Corp. | 261 | 07/22/22 | USD | 155.00 | USD | 3,693 | (12,398 | ) | ||||||||||||||||
AstraZeneca PLC | 310 | 07/22/22 | USD | 65.00 | USD | 2,048 | (75,950 | ) | ||||||||||||||||
CVS Health Corp. | 256 | 07/22/22 | USD | 97.00 | USD | 2,372 | (16,896 | ) | ||||||||||||||||
Gilead Sciences, Inc. | 407 | 07/22/22 | USD | 65.00 | USD | 2,516 | (13,838 | ) | ||||||||||||||||
Pfizer, Inc. | 126 | 07/22/22 | USD | 55.00 | USD | 661 | (7,119 | ) | ||||||||||||||||
Tandem Diabetes Care, Inc. | 165 | 07/22/22 | USD | 60.00 | USD | 977 | (54,862 | ) | ||||||||||||||||
Teladoc Health, Inc. | 200 | 07/22/22 | USD | 38.00 | USD | 664 | (21,200 | ) | ||||||||||||||||
Vertex Pharmaceuticals, Inc. | 360 | 07/22/22 | USD | 270.00 | USD | 10,144 | (581,400 | ) | ||||||||||||||||
Waters Corp. | 96 | 07/28/22 | USD | 333.00 | USD | 3,177 | (121,313 | ) | ||||||||||||||||
Align Technology, Inc. | 117 | 07/29/22 | USD | 270.00 | USD | 2,769 | (81,900 | ) |
80 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust II (BMEZ) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
AmerisourceBergen Corp. | 81 | 07/29/22 | USD | 150.00 | USD | 1,146 | $ | (10,733 | ) | |||||||||||||||
AmerisourceBergen Corp. | 81 | 07/29/22 | USD | 155.00 | USD | 1,146 | (5,063 | ) | ||||||||||||||||
Baxter International, Inc. | 90 | 07/29/22 | USD | 70.00 | USD | 578 | (4,950 | ) | ||||||||||||||||
Edwards Lifesciences Corp. | 98 | 07/29/22 | USD | 90.00 | USD | 932 | (76,440 | ) | ||||||||||||||||
Sarepta Therapeutics, Inc. | 233 | 07/29/22 | USD | 80.00 | USD | 1,747 | (90,870 | ) | ||||||||||||||||
CVS Health Corp. | 258 | 08/05/22 | USD | 97.00 | USD | 2,391 | (37,539 | ) | ||||||||||||||||
Pfizer, Inc. | 249 | 08/05/22 | USD | 53.00 | USD | 1,306 | (42,828 | ) | ||||||||||||||||
Teladoc Health, Inc. | 190 | 08/05/22 | USD | 39.00 | USD | 631 | (36,860 | ) | ||||||||||||||||
908 Devices, Inc. | 89 | 08/19/22 | USD | 20.00 | USD | 183 | (25,143 | ) | ||||||||||||||||
908 Devices, Inc. | 491 | 08/19/22 | USD | 22.50 | USD | 1,011 | (81,015 | ) | ||||||||||||||||
AbbVie, Inc. | 271 | 08/19/22 | USD | 160.00 | USD | 4,151 | (81,706 | ) | ||||||||||||||||
Agilon Health, Inc. | 220 | 08/19/22 | USD | 22.50 | USD | 480 | (48,950 | ) | ||||||||||||||||
Alcon, Inc. | 711 | 08/19/22 | USD | 72.50 | USD | 4,969 | (159,975 | ) | ||||||||||||||||
Alkermes PLC | 1,066 | 08/19/22 | USD | 30.00 | USD | 3,176 | (194,545 | ) | ||||||||||||||||
Alnylam Pharmaceuticals, Inc. | 99 | 08/19/22 | USD | 170.00 | USD | 1,444 | (178,200 | ) | ||||||||||||||||
Amedisys, Inc. | 262 | 08/19/22 | USD | 130.00 | USD | 2,754 | (51,090 | ) | ||||||||||||||||
Arcutis Biotherapeutics, Inc. | 545 | 08/19/22 | USD | 22.50 | USD | 1,161 | (134,887 | ) | ||||||||||||||||
Arcutis Biotherapeutics, Inc. | 543 | 08/19/22 | USD | 25.00 | USD | 1,157 | (59,730 | ) | ||||||||||||||||
Argenx SE | 151 | 08/19/22 | USD | 370.00 | USD | 5,721 | (503,585 | ) | ||||||||||||||||
Avantor, Inc. | 1,785 | 08/19/22 | USD | 32.50 | USD | 5,551 | (209,737 | ) | ||||||||||||||||
Bausch & Lomb Corp. | 810 | 08/19/22 | USD | 17.50 | USD | 1,234 | (50,625 | ) | ||||||||||||||||
BioMarin Pharmaceutical, Inc. | 583 | 08/19/22 | USD | 77.00 | USD | 4,831 | (535,465 | ) | ||||||||||||||||
Bruker Corp. | 333 | 08/19/22 | USD | 62.50 | USD | 2,090 | (166,500 | ) | ||||||||||||||||
Cerevel Therapeutics Holdings, Inc. | 398 | 08/19/22 | USD | 35.00 | USD | 1,052 | (104,475 | ) | ||||||||||||||||
Chemed Corp. | 34 | 08/19/22 | USD | 460.00 | USD | 1,596 | (88,400 | ) | ||||||||||||||||
Cooper Cos., Inc. | 44 | 08/19/22 | USD | 340.00 | USD | 1,378 | (24,200 | ) | ||||||||||||||||
Day One Biopharmaceuticals, Inc. | 611 | 08/19/22 | USD | 25.00 | USD | 1,094 | (126,782 | ) | ||||||||||||||||
DexCom, Inc. | 529 | 08/19/22 | USD | 75.00 | USD | 3,943 | (349,140 | ) | ||||||||||||||||
Enanta Pharmaceuticals, Inc. | 65 | 08/19/22 | USD | 45.00 | USD | 307 | (46,475 | ) | ||||||||||||||||
Exelixis, Inc. | 1,918 | 08/19/22 | USD | 19.00 | USD | 3,993 | (594,580 | ) | ||||||||||||||||
Fate Therapeutics, Inc. | 87 | 08/19/22 | USD | 30.00 | USD | 216 | (14,355 | ) | ||||||||||||||||
Genmab A/S | 365 | 08/19/22 | USD | 30.00 | USD | 1,186 | (143,262 | ) | ||||||||||||||||
Globus Medical, Inc., Class A | 166 | 08/19/22 | USD | 60.00 | USD | 932 | (35,690 | ) | ||||||||||||||||
Guardant Health, Inc. | 248 | 08/19/22 | USD | 45.00 | USD | 1,000 | (89,280 | ) | ||||||||||||||||
Halozyme Therapeutics, Inc. | 402 | 08/19/22 | USD | 45.00 | USD | 1,769 | (101,505 | ) | ||||||||||||||||
Horizon Therapeutics PLC | 430 | 08/19/22 | USD | 100.00 | USD | 3,430 | (53,750 | ) | ||||||||||||||||
IQVIA Holdings, Inc. | 90 | 08/19/22 | USD | 220.00 | USD | 1,953 | (91,350 | ) | ||||||||||||||||
IQVIA Holdings, Inc. | 141 | 08/19/22 | USD | 230.00 | USD | 3,060 | (90,240 | ) | ||||||||||||||||
Karuna Therapeutics, Inc. | 51 | 08/19/22 | USD | 130.00 | USD | 645 | (160,905 | ) | ||||||||||||||||
Krystal Biotech, Inc. | 138 | 08/19/22 | USD | 60.00 | USD | 906 | (129,030 | ) | ||||||||||||||||
Legend Biotech Corp. | 158 | 08/19/22 | USD | 60.00 | USD | 869 | (81,370 | ) | ||||||||||||||||
Neurocrine Biosciences, Inc. | 469 | 08/19/22 | USD | 95.00 | USD | 4,572 | (365,820 | ) | ||||||||||||||||
Omnicell, Inc. | 450 | 08/19/22 | USD | 125.00 | USD | 5,119 | (151,875 | ) | ||||||||||||||||
Penumbra, Inc. | 250 | 08/19/22 | USD | 125.00 | USD | 3,113 | (266,250 | ) | ||||||||||||||||
Pfizer, Inc. | 250 | 08/19/22 | USD | 52.50 | USD | 1,311 | (58,000 | ) | ||||||||||||||||
Pulmonx Corp. | 240 | 08/19/22 | USD | 22.50 | USD | 353 | (63,600 | ) | ||||||||||||||||
Qiagen NV | 1,266 | 08/19/22 | USD | 47.00 | USD | 5,976 | (354,542 | ) | ||||||||||||||||
Quest Diagnostics, Inc. | 345 | 08/19/22 | USD | 135.00 | USD | 4,588 | (150,075 | ) | ||||||||||||||||
Quest Diagnostics, Inc. | 144 | 08/19/22 | USD | 145.00 | USD | 1,915 | (18,360 | ) | ||||||||||||||||
R1 RCM, Inc. | 1,000 | 08/19/22 | USD | 22.50 | USD | 2,096 | (92,500 | ) | ||||||||||||||||
Rapt Therapeutics, Inc. | 571 | 08/19/22 | USD | 17.50 | USD | 1,042 | (155,597 | ) | ||||||||||||||||
Sarepta Therapeutics, Inc. | 897 | 08/19/22 | USD | 90.00 | USD | 6,724 | (213,037 | ) | ||||||||||||||||
Seagen, Inc. | 170 | 08/19/22 | USD | 180.00 | USD | 3,008 | (230,350 | ) | ||||||||||||||||
SI-BONE, Inc. | 655 | 08/19/22 | USD | 15.00 | USD | 865 | (99,887 | ) | ||||||||||||||||
Sotera Health Co. | 1,258 | 08/19/22 | USD | 22.50 | USD | 2,464 | (40,885 | ) | ||||||||||||||||
Tandem Diabetes Care, Inc. | 165 | 08/19/22 | USD | 65.00 | USD | 977 | (61,050 | ) | ||||||||||||||||
Twist Bioscience Corp. | 327 | 08/19/22 | USD | 35.00 | USD | 1,143 | (168,405 | ) | ||||||||||||||||
Twist Bioscience Corp. | 327 | 08/19/22 | USD | 45.00 | USD | 1,143 | (74,392 | ) | ||||||||||||||||
United Therapeutics Corp. | 84 | 08/19/22 | USD | 220.00 | USD | 1,979 | (204,960 | ) | ||||||||||||||||
Waters Corp. | 98 | 08/19/22 | USD | 350.00 | USD | 3,244 | (86,240 | ) | ||||||||||||||||
Zentalis Pharmaceuticals, Inc. | 354 | 08/19/22 | USD | 25.00 | USD | 995 | (177,000 | ) | ||||||||||||||||
Zimmer Biomet Holdings, Inc. | 351 | 08/19/22 | USD | 110.00 | USD | 3,688 | (115,830 | ) |
S C H E D U L E O F IN V E S T M E N T S | 81 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust II (BMEZ) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
ABIOMED, Inc. | 167 | 09/16/22 | USD | 270.00 | USD | 4,133 | $ | (236,305 | ) | |||||||||||||||
Halozyme Therapeutics, Inc. | 402 | 09/16/22 | USD | 45.00 | USD | 1,769 | (154,770 | ) | ||||||||||||||||
$ | (17,364,128) | |||||||||||||||||||||||
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
Daiichi Sankyo Co. Ltd. | Goldman Sachs International | 344,000 | 07/06/22 | JPY | 3,500.12 | JPY | 1,182,328 | $ | (97,236 | ) | ||||||||||||||||||||
Alkermes PLC | Citibank N.A. | 88,600 | 07/07/22 | USD | 31.06 | USD | 2,639 | (45,550 | ) | |||||||||||||||||||||
Sonova Holding AG | UBS AG | 14,500 | 07/08/22 | CHF | 338.98 | CHF | 4,408 | (4,119 | ) | |||||||||||||||||||||
Alcon, Inc. | Barclays Bank PLC | 39,100 | 07/11/22 | USD | 75.62 | USD | 2,733 | (4,651 | ) | |||||||||||||||||||||
Alcon, Inc. | Citibank N.A. | 54,100 | 07/11/22 | USD | 74.49 | USD | 3,781 | (12,296 | ) | |||||||||||||||||||||
Convatec Group PLC | Barclays Bank PLC | 411,500 | 07/12/22 | GBP | 2.33 | GBP | 923 | (10,984 | ) | |||||||||||||||||||||
Gerresheimer AG | Goldman Sachs International | 26,300 | 07/13/22 | EUR | 72.12 | EUR | 1,631 | (17,065 | ) | |||||||||||||||||||||
Convatec Group PLC | Goldman Sachs International | 500,000 | 07/19/22 | GBP | 2.23 | GBP | 1,122 | (45,125 | ) | |||||||||||||||||||||
Amplifon SpA | Goldman Sachs International | 61,000 | 07/20/22 | EUR | 32.83 | EUR | 1,784 | (9,888 | ) | |||||||||||||||||||||
Daiichi Sankyo Co. Ltd. | Goldman Sachs International | 62,000 | 07/20/22 | JPY | 3,517.50 | JPY | 213,094 | (33,041 | ) | |||||||||||||||||||||
Gerresheimer AG | Morgan Stanley & Co. International PLC | 35,000 | 07/20/22 | EUR | 72.46 | EUR | 2,170 | (36,316 | ) | |||||||||||||||||||||
Sonova Holding AG | Barclays Bank PLC | 10,200 | 07/20/22 | CHF | 352.87 | CHF | 3,101 | (7,954 | ) | |||||||||||||||||||||
Alcon, Inc. | Bank of America N.A. | 71,300 | 07/25/22 | USD | 76.85 | USD | 4,983 | (29,196 | ) | |||||||||||||||||||||
Alkermes PLC | Citibank N.A. | 88,400 | 07/26/22 | USD | 30.69 | USD | 2,633 | (77,509 | ) | |||||||||||||||||||||
Genmab A/S | Goldman Sachs International | 1,900 | 07/26/22 | DKK | 2,231.01 | DKK | 4,364 | (36,659 | ) | |||||||||||||||||||||
Teleflex, Inc. | Barclays Bank PLC | 9,200 | 07/26/22 | USD | 261.64 | USD | 2,262 | (35,900 | ) | |||||||||||||||||||||
UCB SA | Goldman Sachs International | 55,000 | 07/26/22 | EUR | 85.75 | EUR | 4,435 | (24,436 | ) | |||||||||||||||||||||
West Pharmaceutical Services, Inc. | JPMorgan Chase Bank N.A. | 6,200 | 07/26/22 | USD | 316.62 | USD | 1,875 | (42,640 | ) | |||||||||||||||||||||
908 Devices, Inc. | Citibank N.A. | 7,200 | 07/28/22 | USD | 21.51 | USD | 148 | (9,716 | ) | |||||||||||||||||||||
Agilent Technologies, Inc. | JPMorgan Chase Bank N.A. | 28,400 | 07/28/22 | USD | 118.64 | USD | 3,373 | (134,961 | ) | |||||||||||||||||||||
Gerresheimer AG | JPMorgan Chase Bank N.A. | 16,500 | 07/28/22 | EUR | 0.00 | EUR | 1,023 | (44,158 | ) | |||||||||||||||||||||
H Lundbeck, Class B | JPMorgan Chase Bank N.A. | 192,400 | 07/28/22 | DKK | 33.55 | DKK | 6,632 | (81,984 | ) | |||||||||||||||||||||
Insulet Corp. | Barclays Bank PLC | 17,500 | 07/28/22 | USD | 216.11 | USD | 3,814 | (258,728 | ) | |||||||||||||||||||||
Quest Diagnostics, Inc. | Bank of America N.A. | 17,300 | 07/28/22 | USD | 139.79 | USD | 2,301 | (32,322 | ) | |||||||||||||||||||||
Wuxi Biologics Cayman, Inc. | Goldman Sachs International | 394,000 | 07/28/22 | HKD | 70.29 | HKD | 28,289 | (319,937 | ) | |||||||||||||||||||||
H Lundbeck, Class B | JPMorgan Chase Bank N.A. | 192,400 | 08/03/22 | DKK | 33.55 | DKK | 6,632 | (70,496 | ) | |||||||||||||||||||||
Ionis Pharmaceuticals, Inc. | Barclays Bank PLC | 74,800 | 08/03/22 | USD | 35.48 | USD | 2,769 | (270,407 | ) | |||||||||||||||||||||
Amplifon SpA | Goldman Sachs International | 32,400 | 08/09/22 | EUR | 28.08 | EUR | 948 | (78,980 | ) | |||||||||||||||||||||
Convatec Group PLC | Morgan Stanley & Co. International PLC | 500,000 | 08/09/22 | GBP | 2.24 | GBP | 1,122 | (55,391 | ) | |||||||||||||||||||||
Daiichi Sankyo Co. Ltd. | JPMorgan Chase Bank N.A. | 62,000 | 08/09/22 | JPY | 3,226.10 | JPY | 213,094 | (141,880 | ) | |||||||||||||||||||||
UCB SA | Morgan Stanley & Co. International PLC | 55,200 | 08/09/22 | EUR | 85.43 | EUR | 4,451 | (52,968 | ) | |||||||||||||||||||||
Genmab A/S | Goldman Sachs International | 9,200 | 08/11/22 | DKK | 2,371.95 | DKK | 21,132 | (113,854 | ) | |||||||||||||||||||||
Lonza Group AG | Goldman Sachs International | 6,100 | 08/11/22 | CHF | 522.31 | CHF | 3,105 | (113,412 | ) | |||||||||||||||||||||
$ | (2,349,759 | ) | ||||||||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 3,825,451 | $ | (7,361,706 | ) | $ | (19,713,887) | |||||||||
82 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust II (BMEZ) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 19,713,887 | $ | — | $ | — | $ | — | $ | 19,713,887 | ||||||||||||||
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options purchased (a) | $ | — | $ | — | $ | (3,612 | ) | $ | — | $ | — | $ | — | $ | (3,612 | ) | ||||||||||||
Options written | — | — | 40,270,755 | — | — | — | 40,270,755 | |||||||||||||||||||||
$ | — | $ | — | $ | 40,267,143 | $ | — | $ | — | $ | — | $ | 40,267,143 | |||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | (1,866,111 | ) | $ | — | $ | — | $ | — | $ | (1,866,111 | ) | ||||||||||||
(a) | Options purchased are included in net realized gain (loss) from investments — unaffiliated. |
Options: | ||||
Average value of option contracts purchased | $ | — | (a) | |
Average value of option contracts written | $ | 24,328,627 |
(a) | Derivative not held at any quarter-end. The risk exposure table serves as an indicator of activity during the period. |
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 19,713,887 | ||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 19,713,887 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (17,364,128 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 2,349,759 | ||||
S C H E D U L E O F IN V E S T M E N T S | 83 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust II (BMEZ) |
Counterparty | | Derivative Liabilities Subject to an MNA by Counterparty | | | Derivatives Available for Offset | | | Non-Cash Collateral Pledged | (a) | | Cash Collateral Pledged | | | Net Amount of Derivative Liabilities | (b) | |||||
Bank of America N.A. | $ | 61,518 | $ | — | $ | — | $ | — | $ | 61,518 | ||||||||||
Barclays Bank PLC | 588,624 | — | (588,624 | ) | — | — | ||||||||||||||
Citibank N.A. | 145,071 | — | (125,071 | ) | (20,000 | ) | — | |||||||||||||
Goldman Sachs International | 889,633 | — | (889,633 | ) | — | — | ||||||||||||||
JPMorgan Chase Bank N.A. | 516,119 | — | (516,119 | ) | — | — | ||||||||||||||
Morgan Stanley & Co. International PLC | 144,675 | — | (128,675 | ) | (16,000 | ) | — | |||||||||||||
UBS AG | 4,119 | — | (4,119 | ) | — | — | ||||||||||||||
$ | 2,349,759 | $ | — | $ | (2,252,241 | ) | $ | (36,000 | ) | $ | 61,518 | |||||||||
(a) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(b) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Statements of Assets and Liabilities. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Biotechnology | $ | 632,392,781 | $ | 38,216,709 | $ | — | $ | 670,609,490 | ||||||||
Diversified Financial Services | 48,190,538 | — | — | 48,190,538 | ||||||||||||
Electronic Equipment, Instruments & Components | 5,643,390 | — | — | 5,643,390 | ||||||||||||
Health Care Equipment & Supplies | 425,054,154 | 27,403,789 | — | 452,457,943 | ||||||||||||
Health Care Providers & Services | 244,436,822 | 15,215,076 | — | 259,651,898 | ||||||||||||
Health Care Technology | 7,180,627 | — | — | 7,180,627 | ||||||||||||
Life Sciences Tools & Services | 239,232,606 | 37,479,223 | — | 276,711,829 | ||||||||||||
Pharmaceuticals | 68,447,931 | 70,884,306 | — | 139,332,237 | ||||||||||||
Other Interests | — | — | 3,961,905 | 3,961,905 | ||||||||||||
Preferred Securities | ||||||||||||||||
Preferred Stocks | — | — | 198,464,978 | 198,464,978 | ||||||||||||
Warrants | ||||||||||||||||
Diversified Financial Services | 27,339 | 8,915 | — | 36,254 | ||||||||||||
Health Care Providers & Services | 41,475 | — | — | 41,475 | ||||||||||||
Pharmaceuticals | 19,287 | — | — | 19,287 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 81,844,430 | — | — | 81,844,430 | ||||||||||||
$ | 1,752,511,380 | $ | 189,208,018 | $ | 202,426,883 | 2,144,146,281 | ||||||||||
Investments Valued at NAV (a) | 6,855,495 | |||||||||||||||
$ | 2,151,001,776 | |||||||||||||||
Derivative Financial Instruments (b) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (16,128,457 | ) | $ | (3,585,430 | ) | $ | — | $ | (19,713,887 | ) | |||||
(a) | 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. |
(b) | Derivative financial instruments are options written. Options written are shown at value. |
84 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Health Sciences Trust II (BMEZ) |
Other Interests | Preferred Stocks | Total | ||||||||||
Assets | ||||||||||||
Opening balance, as of December 31, 2021 | $ | 4,000,000 | $ | 232,701,012 | $ | 236,701,012 | ||||||
Transfers into Level 3 | — | — | — | |||||||||
Transfers out of Level 3 | — | — | — | |||||||||
Accrued discounts/premiums | — | — | — | |||||||||
Net realized gain (loss) | — | 18,407,243 | 18,407,243 | |||||||||
Net change in unrealized appreciation (depreciation) (a)(b) | (38,095 | ) | (28,000,651 | ) | (28,038,746 | ) | ||||||
Purchases | — | 3,764,616 | 3,764,616 | |||||||||
Sales | — | (28,407,242 | ) | (28,407,242 | ) | |||||||
Closing balance, as of June 30, 2022 | $ | 3,961,905 | $ | 198,464,978 | $ | 202,426,883 | ||||||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 (b) | $ | (38,095 | ) | $ | (11,412,430 | ) | $ | (11,450,525 | ) | |||
(a) | Included in the related net change in unrealized appreciation (depreciation) in the Statements of Operations. |
(b) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 is generally due to investments no longer held or categorized as Level 3 at period end. |
Value | Valuation Approach | Unobservable Inputs | Range of Unobservable Inputs Utilized (a) | Weighted Average of Unobservable Inputs Based on Fair Value | ||||||||||||||
Assets | ||||||||||||||||||
Preferred Stocks | $ | 198,464,978 | Market | Revenue Multiple | 1.75x - 8.75x | 5.56x | ||||||||||||
EBITDA Multiple | 10.25x | — | ||||||||||||||||
Volatility | 50% - 90% | 67% | ||||||||||||||||
Time to Exit | 1.0 - 4.0 years | 2.4 years | ||||||||||||||||
Market Adjustment Multiple | 0.45x - 2.05x | 0.99x | ||||||||||||||||
Income | Discount Rate | 3% | — | |||||||||||||||
Other Interests | 3,961,905 | Income | Discount Rate | 3% | — | |||||||||||||
$ | 202,426,883 | |||||||||||||||||
(a) | A significant change in unobservable input would have resulted in a correlated (inverse) significant change to value. |
S C H E D U L E O F IN V E S T M E N T S | 85 |
Schedule of Investments (unaudited) June 30, 2022 | BlackRock Innovation and Growth Trust (BIGZ) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Aerospace & Defense — 4.7% | ||||||||
Axon Enterprise, Inc. (a)(b) | 651,666 | $ | 60,715,721 | |||||
HEICO Corp. | 336,633 | 44,139,319 | ||||||
104,855,040 | ||||||||
Auto Components — 1.8% | ||||||||
Fox Factory Holding Corp. (b) | 493,110 | 39,715,079 | ||||||
Biotechnology — 1.7% | ||||||||
Halozyme Therapeutics, Inc. (b) | 862,474 | 37,948,856 | ||||||
Building Products — 0.5% | ||||||||
AZEK Co., Inc. (b) | 725,567 | 12,145,992 | ||||||
Capital Markets — 2.5% | ||||||||
Tradeweb Markets, Inc., Class A | 804,964 | 54,938,793 | ||||||
Diversified Consumer Services — 3.4% | ||||||||
Duolingo, Inc. (b) | 483,017 | 42,288,138 | ||||||
Ideal Image, Class A, (Acquired 05/05/21, Cost: $50,000,000) (c)(d) | 6,224 | 33,064,138 | ||||||
75,352,276 | ||||||||
Electronic Equipment, Instruments & Components — 0.6% | ||||||||
908 Devices, Inc. (b) | 664,622 | 13,684,567 | ||||||
Entertainment — 1.2% | ||||||||
Kahoot! ASA (b) | 14,075,911 | 26,152,890 | ||||||
Equity Real Estate Investment Trusts (REITs) — 1.2% | ||||||||
Innovative Industrial Properties, Inc. | 104,585 | 11,490,754 | ||||||
Rexford Industrial Realty, Inc. | 259,006 | 14,916,156 | ||||||
26,406,910 | ||||||||
Food Products — 0.5% | ||||||||
Freshpet, Inc. (b) | 215,820 | 11,198,900 | ||||||
Health Care Equipment & Supplies (b) — 1.2% | ||||||||
Figs, Inc., Class A | 2,000,216 | 18,221,968 | ||||||
Inmode Ltd. | 407,065 | 9,122,326 | ||||||
27,344,294 | ||||||||
Health Care Technology (b) — 4.0% | ||||||||
Certara, Inc. | 1,484,355 | 31,854,258 | ||||||
Doximity, Inc., Class A | 1,007,602 | 35,084,702 | ||||||
Phreesia, Inc. (a)(e) | 909,979 | 22,758,575 | ||||||
89,697,535 | ||||||||
Hotels, Restaurants & Leisure — 5.1% | ||||||||
Evolution AB (f) | 532,304 | 48,695,692 | ||||||
Penn National Gaming, Inc. (a)(b) | 369,706 | 11,246,456 | ||||||
Planet Fitness, Inc., Class A (b)(e) | 813,885 | 55,352,319 | ||||||
115,294,467 | ||||||||
Interactive Media & Services — 2.2% | ||||||||
Match Group, Inc. (b) | 711,953 | 49,616,005 | ||||||
Internet & Direct Marketing Retail (b) — 1.9% | ||||||||
Etsy, Inc. | 284,635 | 20,838,128 | ||||||
Fiverr International Ltd. | 620,702 | 21,345,942 | ||||||
42,184,070 | ||||||||
IT Services — 5.3% | ||||||||
DigitalOcean Holdings, Inc. (b) | 860,272 | 35,580,850 |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
Globant SA (b) | 305,438 | $ | 53,146,212 | |||||
Salt Payments, Inc., Series C, (Acquired 11/16/21, Cost: $49,999,974) (c)(d) | 25,742 | 30,433,994 | ||||||
119,161,056 | ||||||||
Life Sciences Tools & Services — 10.6% | ||||||||
10X Genomics, Inc., Class A (b)(e) | 443,515 | 20,069,054 | ||||||
Azenta, Inc. | 611,504 | 44,089,438 | ||||||
Bio-Techne Corp. (a)(e) | 185,128 | 64,172,770 | ||||||
Charles River Laboratories International, Inc. (b) | 102,495 | 21,930,855 | ||||||
Olink Holding AB, ADR (b) | 807,928 | 12,280,506 | ||||||
Repligen Corp. (b) | 307,574 | 49,950,017 | ||||||
West Pharmaceutical Services, Inc. | 80,337 | 24,291,499 | ||||||
236,784,139 | ||||||||
Machinery — 2.4% | ||||||||
Chart Industries, Inc. (b) | 326,858 | 54,709,492 | ||||||
Road & Rail — 0.9% | ||||||||
Saia, Inc. (b) | 111,834 | 21,024,792 | ||||||
Semiconductors & Semiconductor Equipment — 8.4% | ||||||||
Ambarella, Inc. (b) | 593,772 | 38,868,315 | ||||||
Entegris, Inc. (e) | 683,028 | 62,927,370 | ||||||
Lattice Semiconductor Corp. (b) | 353,895 | 17,163,907 | ||||||
Monolithic Power Systems, Inc. (a) | 178,789 | 68,662,128 | ||||||
187,621,720 | ||||||||
Software — 17.9% | ||||||||
Avalara, Inc. (b)(e) | 373,554 | 26,372,913 | ||||||
Bill.Com Holdings, Inc. (b) | 452,261 | 49,721,574 | ||||||
Confluent, Inc., Class A (b) | 2,169,474 | 50,418,576 | ||||||
Five9, Inc. (b) | 633,658 | 57,751,590 | ||||||
Gitlab, Inc., Class A (b) | 917,444 | 48,752,974 | ||||||
Grammarly, Inc., (Acquired 11/17/21, Cost: $26,250,012) (c)(d) | 1,001,454 | 21,371,028 | ||||||
HubSpot, Inc. (b) | 97,991 | 29,460,994 | ||||||
Patreon, Inc., (Acquired 08/19/21, Cost: $11,732,736) (c)(d) | 208,333 | 8,039,571 | ||||||
Paylocity Holding Corp. (a)(b) | 335,189 | 58,463,666 | ||||||
SiteMinder Ltd. (b) | 11,692,607 | 28,487,912 | ||||||
Snorkel AI, Inc., (Acquired 06/30/21, Cost: $2,999,997) (c)(d) | 199,738 | 1,909,495 | ||||||
Snyk Ltd., (Acquired 09/02/21, Cost: $25,961,537) (c)(d) | 1,809,860 | 18,587,262 | ||||||
399,337,555 | ||||||||
Total Common Stocks — 78.0% (Cost: $2,492,595,509) | 1,745,174,428 | |||||||
Par (000) | ||||||||
Convertible Notes | ||||||||
Specialty Retail — 0.6% | ||||||||
Super73, Inc.(Acquired: 12/21/21, Cost: $12,000,000), 0.00% (c)(d) | $ | 12,000 | 12,240,000 | |||||
Total Convertible Notes — 0.6% (Cost: $12,000,000) | 12,240,000 | |||||||
86 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Innovation and Growth Trust (BIGZ) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Preferred Securities | ||||||||
Preferred Stocks — 21.8% (c)(d) | ||||||||
Aerospace & Defense — 1.7% | ||||||||
Relativity Space, Inc., Series E, (Acquired 05/27/21, Cost: $50,000,009) | 2,189,612 | $ | 37,814,599 | |||||
Banks — 0.7% | ||||||||
Varo Money Inc., Series E, (Acquired 08/27/21, Cost: $40,000,001) | 4,316,904 | 16,102,052 | ||||||
Capital Markets — 2.1% | ||||||||
The Production Board LLC, Series A3, (Acquired 06/04/21, Cost: $50,000,001) | 16,666,667 | 47,666,668 | ||||||
Entertainment — 0.6% | ||||||||
Discord, Inc., Series I, (Acquired 09/13/21, Cost: $17,999,912) | 32,690 | 12,975,315 | ||||||
Food Products — 1.1% | ||||||||
Motif Food Works, Inc., (Acquired 06/08/21, Cost: $39,999,986) | 1,972,240 | 24,810,779 | ||||||
Hotels, Restaurants & Leisure — 0.7% | ||||||||
Dapper Labs, Inc., Series 7, (Acquired 07/20/21, Cost: $29,999,945) | 191,067 | 11,152,581 | ||||||
Underdog Sports, Inc., Series B, (Acquired 01/11/22, Cost: $4,109,441) | 79,740 | 4,596,213 | ||||||
15,748,794 | ||||||||
Internet Software & Services — 1.0% | ||||||||
Via Transportation, Inc., Series G, (Acquired 11/05/21, Cost: $24,999,974) | 549,357 | 21,622,692 | ||||||
IT Services — 1.0% | ||||||||
Open Space Labs Inc., Series D, (Acquired 01/31/22, Cost: $15,000,003) | 1,687,916 | 13,553,966 | ||||||
Wagestream Holdings Ltd., Series C, (Acquired 02/11/22, Cost: $10,024,684) | 762,746 | 7,752,899 | ||||||
21,306,865 | ||||||||
Leisure Products — 1.7% | ||||||||
Under Canvas, Inc., Class A, (Acquired 08/19/21, Cost: $49,999,982) | 2,172,486 | 39,083,023 | ||||||
Semiconductors & Semiconductor Equipment — 2.1% | ||||||||
PsiQuantum Corp., Series C, (Acquired 05/21/21, Cost: $39,999,990) | 1,525,192 | 38,983,907 | ||||||
Rivos, Inc., Series A, (Acquired 12/03/21, Cost: $7,996,292) | 2,997,684 | 7,194,442 | ||||||
46,178,349 | ||||||||
Software — 8.0% | ||||||||
Anchor Labs, Inc., Series D, (Acquired 11/24/21, Cost: $9,999,995) | 428,785 | 5,985,839 | ||||||
AnyRoad, Inc., Series B, (Acquired 12/07/21, Cost: $14,999,995) | 2,745,894 | 12,383,982 | ||||||
Bolt Financial, Inc., Series E, (Acquired 01/18/22, Cost: $44,999,983) | 898,024 | 30,434,033 | ||||||
Deepgram, Inc., Series B, (Acquired 10/22/21, Cost: $11,999,997) | 2,165,400 | 11,000,232 | ||||||
Dragos, Inc., Series D, (Acquired 09/28/21, Cost: $39,999,959) | 900,760 | 34,877,427 |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Genesys Cloud Services, Inc., (Acquired 11/24/21, Cost: $30,000,101) | 4,651,163 | $ | 23,023,257 | |||||
Grammarly, Inc., Series 3, (Acquired 11/17/21, Cost: $8,750,004) | 333,818 | 7,123,676 | ||||||
Patreon, Inc., Series D, (Acquired 07/14/21, Cost: $23,333,352) | 416,667 | 16,079,179 | ||||||
SkySafe, Inc., Series B, (Acquired 12/02/21, Cost: $4,999,999) | 909,438 | 4,756,361 | ||||||
Snorkel AI, Inc., Series C, (Acquired 06/30/21, Cost: $10,999,994) | 732,373 | 7,001,486 | ||||||
Snyk Ltd., Series B, (Acquired 09/02/21, Cost: $24,038,470) | 1,675,797 | 17,210,435 | ||||||
Validere Technologies, Inc., Series B, (Acquired 10/21/21, Cost: $10,000,000) | 4,684,060 | 9,602,323 | ||||||
179,478,230 | ||||||||
Wireless Telecommunication Services — 1.1% | ||||||||
Loft Orbital Solutions, Inc., Series B, (Acquired 10/14/21, Cost: $24,999,992) | 1,365,305 | 24,138,592 | ||||||
486,925,958 | ||||||||
Total Preferred Securities — 21.8% (Cost: $639,252,061) | 486,925,958 | |||||||
Total Long-Term Investments — 100.4% (Cost: $3,143,847,570) | 2,244,340,386 | |||||||
Short-Term Securities | ||||||||
Money Market Funds — 0.4% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33%(g)(h) | 9,128,990 | 9,128,990 | ||||||
Total Short-Term Securities — 0.4% (Cost: $9,128,990) | 9,128,990 | |||||||
Total Investments Before Options Written — 100.8% (Cost: $3,152,976,560) | 2,253,469,376 | |||||||
Options Written — (0.5)% (Premiums Received: $(11,526,685)) | (9,846,179 | ) | ||||||
Total Investments, Net of Options Written — 100.3% (Cost: $3,141,449,875) | 2,243,623,197 | |||||||
Liabilities in Excess of Other Assets — (0.3)% | (7,544,276 | ) | ||||||
Net Assets — 100.0% | $ | 2,236,078,921 | ||||||
(a) | All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives. |
(b) | Non-income producing security. |
(c) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(d) | Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $612,571,446, representing 27.4% of its net assets as of period end, and an original cost of $818,196,317. |
(e) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(f) | 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. |
(g) | Affiliate of the Trust. |
(h) | Annualized 7-day yield as of period end. |
S C H E D U L E O F IN V E S T M E N T S | 87 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Innovation and Growth Trust (BIGZ) |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
908 Devices, Inc. (a) | $ | 59,749,533 | $ | — | $ | (23,460,919 | ) | $ | (58,510,510 | ) | $ | 44,486,096 | $ | N/A | N/A | $ | — | $ | — | |||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | 1,836,203 | 7,292,787 | (b) | — | — | — | 9,128,990 | 9,128,990 | 32,878 | — | ||||||||||||||||||||||||||
SL Liquidity Series, LLC, Money Market Series (c) | 5,204,477 | — | (5,203,286 | ) (b) | (1,495 | ) | 304 | — | — | 3,961 | (d) | — | ||||||||||||||||||||||||
$ | (58,512,005 | ) | $ | 44,486,400 | $ | 9,128,990 | $ | 36,839 | $ | — | ||||||||||||||||||||||||||
(a) | As of period end, the entity is no longer an affiliate. |
(b) | Represents net amount purchased (sold). |
(c) | As of period end, the entity is no longer held. |
(d) | 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. |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call | ||||||||||||||||||||||||
Ambarella, Inc. | 157 | 07/01/22 | USD | 87.00 | USD | 1,028 | $ | (11,775) | ||||||||||||||||
Match Group, Inc. | 143 | 07/01/22 | USD | 86.00 | USD | 997 | (4,290) | |||||||||||||||||
Penn National Gaming, Inc. | 368 | 07/08/22 | USD | 36.00 | USD | 1,119 | (6,624) | |||||||||||||||||
Lattice Semiconductor Corp. | 196 | 07/12/22 | USD | 51.50 | USD | 951 | (12,116) | |||||||||||||||||
10X Genomics, Inc., Class A | 749 | 07/15/22 | USD | 40.00 | USD | 3,389 | (528,045) | |||||||||||||||||
908 Devices, Inc. | 275 | 07/15/22 | USD | 17.50 | USD | 566 | (112,062) | |||||||||||||||||
Ambarella Inc. | 108 | 07/15/22 | USD | 76.00 | USD | 707 | (6,210) | |||||||||||||||||
Ambarella, Inc. | 212 | 07/15/22 | USD | 85.00 | USD | 1,388 | (6,890) | |||||||||||||||||
Avalara, Inc. | 401 | 07/15/22 | USD | 90.00 | USD | 2,831 | (58,145) | |||||||||||||||||
Axon Enterprise, Inc. | 478 | 07/15/22 | USD | 110.00 | USD | 4,454 | (11,950) | |||||||||||||||||
AZEK Co., Inc. | 1,058 | 07/15/22 | USD | 20.94 | USD | 1,771 | (5,358) | |||||||||||||||||
Bio-Techne Corp. | 54 | 07/15/22 | USD | 400.00 | USD | 1,872 | (25,920) | |||||||||||||||||
Brooks Automation, Inc. | 297 | 07/15/22 | USD | 80.00 | USD | 2,141 | (61,627) | |||||||||||||||||
Charles River Laboratories International, Inc. | 76 | 07/15/22 | USD | 260.00 | USD | 1,626 | (7,220) | |||||||||||||||||
Chart Industries, Inc. | 173 | 07/15/22 | USD | 195.00 | USD | 2,896 | (40,222) | |||||||||||||||||
Confluent, Inc., Class A | 329 | 07/15/22 | USD | 30.00 | USD | 765 | (5,758) | |||||||||||||||||
Confluent, Inc., Class A | 485 | 07/15/22 | USD | 25.00 | USD | 1,127 | (46,075) | |||||||||||||||||
DigitalOcean Holdings, Inc. | 100 | 07/15/22 | USD | 60.00 | USD | 414 | (750) | |||||||||||||||||
DigitalOcean Holdings, Inc. | 784 | 07/15/22 | USD | 40.96 | USD | 3,243 | (241,937) | |||||||||||||||||
Doximity, Inc., Class A | 600 | 07/15/22 | USD | 42.50 | USD | 2,089 | (16,500) | |||||||||||||||||
Duolingo, Inc., Class A | 325 | 07/15/22 | USD | 95.00 | USD | 2,845 | (102,375) | |||||||||||||||||
Etsy, Inc. | 120 | 07/15/22 | USD | 95.00 | USD | 879 | (2,880) | |||||||||||||||||
Five9, Inc. | 165 | 07/15/22 | USD | 105.00 | USD | 1,504 | (9,075) | |||||||||||||||||
Five9, Inc. | 385 | 07/15/22 | USD | 100.00 | USD | 3,509 | (54,862) | |||||||||||||||||
Fiverr International Ltd. | 330 | 07/15/22 | USD | 70.00 | USD | 1,135 | (3,300) | |||||||||||||||||
Fiverr International Ltd. | 601 | 07/15/22 | USD | 45.00 | USD | 2,067 | (10,518) | |||||||||||||||||
Fox Factory Holding Corp. | 439 | 07/15/22 | USD | 85.00 | USD | 3,536 | (65,850) | |||||||||||||||||
Freshpet, Inc. | 403 | 07/15/22 | USD | 70.00 | USD | 2,091 | (88,660) | |||||||||||||||||
Gitlab, Inc., Class A | 532 | 07/15/22 | USD | 70.00 | USD | 2,827 | (10,640) | |||||||||||||||||
Gitlab, Inc., Class A | 173 | 07/15/22 | USD | 50.00 | USD | 919 | (91,690) | |||||||||||||||||
Globant SA | 144 | 07/15/22 | USD | 250.00 | USD | 2,506 | (11,520) | |||||||||||||||||
Globant SA | 120 | 07/15/22 | USD | 195.00 | USD | 2,088 | (27,900) | |||||||||||||||||
Halozyme Therapeutics, Inc. | 696 | 07/15/22 | USD | 46.00 | USD | 3,062 | (71,340) | |||||||||||||||||
HEICO Corp. | 188 | 07/15/22 | USD | 139.68 | USD | 2,465 | (7,181) | |||||||||||||||||
HubSpot, Inc. | 73 | 07/15/22 | USD | 390.00 | USD | 2,195 | (17,338) | |||||||||||||||||
Inmode Ltd. | 610 | 07/15/22 | USD | 25.00 | USD | 1,367 | (30,500) | |||||||||||||||||
Lattice Semiconductor Corp. | 18 | 07/15/22 | USD | 55.52 | USD | 87 | (621) |
88 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Innovation and Growth Trust (BIGZ) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Lattice Semiconductor Corp. | 316 | 07/15/22 | USD | 50.00 | USD | 1,533 | $ | (51,350) | ||||||||||||||||
Monolithic Power Systems, Inc. | 112 | 07/15/22 | USD | 460.00 | USD | 4,301 | (29,960) | |||||||||||||||||
Olink Holding AB, ADR | 497 | 07/15/22 | USD | 17.50 | USD | 755 | (67,095) | |||||||||||||||||
Olink Holding AB, ADR | 494 | 07/15/22 | USD | 12.50 | USD | 751 | (143,260) | |||||||||||||||||
Paylocity Holding Corp. | 117 | 07/15/22 | USD | 175.00 | USD | 2,041 | (83,070) | |||||||||||||||||
Paylocity Holding Corp. | 124 | 07/15/22 | USD | 191.00 | USD | 2,163 | (32,998) | |||||||||||||||||
Phreesia, Inc. | 750 | 07/15/22 | USD | 35.00 | USD | 1,876 | (22,500) | |||||||||||||||||
Phreesia, Inc. | 469 | 07/15/22 | USD | 20.00 | USD | 1,173 | (243,880) | |||||||||||||||||
Planet Fitness, Inc., Class A | 557 | 07/15/22 | USD | 78.33 | USD | 3,788 | (13,306) | |||||||||||||||||
Repligen Corp. | 270 | 07/15/22 | USD | 170.00 | USD | 4,385 | (122,850) | |||||||||||||||||
Rexford Industrial Realty, Inc. | 73 | 07/15/22 | USD | 65.00 | USD | 420 | (6,570) | |||||||||||||||||
Saia, Inc. | 71 | 07/15/22 | USD | 210.00 | USD | 1,335 | (14,023) | |||||||||||||||||
Tradeweb Markets, Inc., Class A | 631 | 07/15/22 | USD | 70.00 | USD | 4,307 | (69,410) | |||||||||||||||||
Ambarella, Inc. | 290 | 07/22/22 | USD | 95.00 | USD | 1,898 | (14,500) | |||||||||||||||||
Bill.Com Holdings, Inc. | 240 | 07/22/22 | USD | 150.00 | USD | 2,639 | (24,000) | |||||||||||||||||
Match Group, Inc. | 338 | 07/22/22 | USD | 84.00 | USD | 2,356 | (14,872) | |||||||||||||||||
Penn National Gaming, Inc. | 564 | 07/22/22 | USD | 38.00 | USD | 1,716 | (10,152) | |||||||||||||||||
Ambarella, Inc. | 123 | 07/29/22 | USD | 78.00 | USD | 805 | (14,145) | |||||||||||||||||
Bill.Com Holdings, Inc. | 186 | 07/29/22 | USD | 135.00 | USD | 2,045 | (60,450) | |||||||||||||||||
Etsy, Inc. | 200 | 07/29/22 | USD | 91.00 | USD | 1,464 | (38,400) | |||||||||||||||||
Match Group, Inc. | 290 | 07/29/22 | USD | 78.00 | USD | 2,021 | (50,025) | |||||||||||||||||
Bill.Com Holdings, Inc. | 252 | 08/05/22 | USD | 130.00 | USD | 2,770 | (123,480) | |||||||||||||||||
Etsy, Inc. | 106 | 08/05/22 | USD | 95.00 | USD | 776 | (18,497) | |||||||||||||||||
Axon Enterprise, Inc. | 220 | 08/12/22 | USD | 99.00 | USD | 2,050 | (108,287) | |||||||||||||||||
Bio-Techne Corp. | 133 | 08/15/22 | USD | 390.00 | USD | 4,610 | (74,359) | |||||||||||||||||
908 Devices, Inc. | 58 | 08/19/22 | USD | 20.00 | USD | 119 | (16,385) | |||||||||||||||||
908 Devices, Inc. | 317 | 08/19/22 | USD | 22.50 | USD | 653 | (52,305) | |||||||||||||||||
Avalara, Inc. | 159 | 08/19/22 | USD | 85.00 | USD | 1,123 | (32,993) | |||||||||||||||||
Brooks Automation, Inc. | 347 | 08/19/22 | USD | 75.00 | USD | 2,502 | (144,005) | |||||||||||||||||
Certara, Inc. | 1,000 | 08/19/22 | USD | 20.00 | USD | 2,146 | (275,000) | |||||||||||||||||
Certara, Inc. | 613 | 08/19/22 | USD | 22.50 | USD | 1,315 | (306,500) | |||||||||||||||||
Charles River Laboratories International, Inc. | 77 | 08/19/22 | USD | 220.00 | USD | 1,648 | (89,705) | |||||||||||||||||
Chart Industries, Inc. | 144 | 08/19/22 | USD | 185.00 | USD | 2,410 | (99,360) | |||||||||||||||||
Confluent, Inc., Class A | 1,415 | 08/19/22 | USD | 22.42 | USD | 3,288 | (560,641) | |||||||||||||||||
DigitalOcean Holdings, Inc. | 486 | 08/19/22 | USD | 55.00 | USD | 2,010 | (76,545) | |||||||||||||||||
Doximity, Inc., Class A | 609 | 08/19/22 | USD | 47.50 | USD | 2,121 | (70,035) | |||||||||||||||||
Duolingo, Inc., Class A | 245 | 08/19/22 | USD | 110.00 | USD | 2,145 | (115,150) | |||||||||||||||||
Entegris, Inc. | 1,024 | 08/19/22 | USD | 100.00 | USD | 9,434 | (414,720) | |||||||||||||||||
Figs, Inc., Class A | 1,500 | 08/19/22 | USD | 10.00 | USD | 1,367 | (127,500) | |||||||||||||||||
Fox Factory Holding Corp. | 300 | 08/19/22 | USD | 80.00 | USD | 2,416 | (202,500) | |||||||||||||||||
Freshpet, Inc. | 12 | 08/19/22 | USD | 60.00 | USD | 62 | (3,420) | |||||||||||||||||
Gitlab, Inc., Class A | 440 | 08/19/22 | USD | 51.00 | USD | 2,338 | (344,773) | |||||||||||||||||
Gitlab, Inc., Class A | 304 | 08/19/22 | USD | 50.83 | USD | 1,615 | (240,743) | |||||||||||||||||
Globant SA | 194 | 08/19/22 | USD | 220.00 | USD | 3,376 | (61,110) | |||||||||||||||||
Halozyme Therapeutics, Inc. | 298 | 08/19/22 | USD | 45.00 | USD | 1,311 | (75,245) | |||||||||||||||||
HEICO Corp. | 128 | 08/19/22 | USD | 140.00 | USD | 1,678 | (34,880) | |||||||||||||||||
HEICO Corp. | 188 | 08/19/22 | USD | 135.00 | USD | 2,465 | (86,480) | |||||||||||||||||
HubSpot, Inc. | 73 | 08/19/22 | USD | 350.00 | USD | 2,195 | (129,575) | |||||||||||||||||
Innovative Industrial Properties, Inc. | 156 | 08/19/22 | USD | 125.00 | USD | 1,714 | (43,290) | |||||||||||||||||
Match Group, Inc. | 280 | 08/19/22 | USD | 90.00 | USD | 1,951 | (27,860) | |||||||||||||||||
Monolithic Power Systems, Inc. | 78 | 08/19/22 | USD | 450.00 | USD | 2,996 | (78,780) | |||||||||||||||||
Olink Holding AB, ADR | 220 | 08/19/22 | USD | 10.00 | USD | 334 | (112,200) | |||||||||||||||||
Paylocity Holding Corp. | 261 | 08/19/22 | USD | 175.00 | USD | 4,552 | (378,450) | |||||||||||||||||
Phreesia, Inc. | 390 | 08/19/22 | USD | 20.00 | USD | 975 | (235,950) | |||||||||||||||||
Repligen Corp. | 150 | 08/19/22 | USD | 165.00 | USD | 2,436 | (206,250) | |||||||||||||||||
Saia, Inc. | 96 | 08/19/22 | USD | 210.00 | USD | 1,805 | (78,240) | |||||||||||||||||
Tradeweb Markets, Inc., Class A | 576 | 08/19/22 | USD | 70.00 | USD | 3,931 | (161,280) | |||||||||||||||||
Figs, Inc., Class A | 1,500 | 09/16/22 | USD | 9.96 | USD | 1,367 | (169,485) | |||||||||||||||||
Halozyme Therapeutics, Inc. | 298 | 09/16/22 | USD | 45.00 | USD | 1,311 | (114,730) | |||||||||||||||||
$ | (8,433,248) | |||||||||||||||||||||||
S C H E D U L E O F IN V E S T M E N T S | 89 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Innovation and Growth Trust (BIGZ) |
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
Kahoot! ASA | UBS AG | 598,000 | 07/06/22 | NOK | 25.29 | NOK | 10,944 | $ | (51) | |||||||||||||||||||||
AZEK Co., Inc. | Barclays Bank PLC | 68,000 | 07/08/22 | USD | 23.81 | USD | 1,138 | (5) | ||||||||||||||||||||||
Siteminder Ltd. | UBS AG | 100,000 | 07/19/22 | AUD | 4.93 | AUD | 353 | (138) | ||||||||||||||||||||||
Kahoot! ASA | Goldman Sachs International | 518,400 | 07/20/22 | NOK | 26.44 | NOK | 9,487 | (2,741) | ||||||||||||||||||||||
Axon Enterprise, Inc. | Goldman Sachs International | 28,000 | 07/25/22 | USD | 110.68 | USD | 2,609 | (32,159) | ||||||||||||||||||||||
Monolithic Power Systems, Inc. | Barclays Bank PLC | 7,800 | 07/26/22 | USD | 433.62 | USD | 2,996 | (52,803) | ||||||||||||||||||||||
West Pharmaceutical Services, Inc. | JPMorgan Chase Bank N.A. | 12,000 | 07/26/22 | USD | 316.62 | USD | 3,628 | (82,529) | ||||||||||||||||||||||
Brooks Automation, Inc. | Barclays Bank PLC | 27,300 | 07/27/22 | USD | 81.20 | USD | 1,968 | (88,715) | ||||||||||||||||||||||
Siteminder Ltd. | Morgan Stanley & Co. International PLC | 59,800 | 07/27/22 | AUD | 4.91 | AUD | 211 | (296) | ||||||||||||||||||||||
908 Devices, Inc. | Citibank N.A. | 34,600 | 07/28/22 | USD | 21.51 | USD | 712 | (46,689) | ||||||||||||||||||||||
Bio-Techne Corp. | JPMorgan Chase Bank N.A. | 9,000 | 07/28/22 | USD | 350.65 | USD | 3,120 | (129,582) | ||||||||||||||||||||||
Chart Industries, Inc. | Barclays Bank PLC | 17,300 | 07/28/22 | USD | 182.14 | USD | 2,896 | (75,623) | ||||||||||||||||||||||
Confluent, Inc., Class A | JPMorgan Chase Bank N.A. | 102,500 | 07/28/22 | USD | 26.12 | USD | 2,382 | (152,336) | ||||||||||||||||||||||
Duolingo, Inc., Class A | Citibank N.A. | 18,900 | 07/28/22 | USD | 102.37 | USD | 1,655 | (69,438) | ||||||||||||||||||||||
Planet Fitness, Inc., Class A | JPMorgan Chase Bank N.A. | 66,300 | 07/28/22 | USD | 69.42 | USD | 4,509 | (187,827) | ||||||||||||||||||||||
Evolution AB | Morgan Stanley & Co. International PLC | 79,800 | 08/02/22 | SEK | 966.29 | SEK | 74,679 | (342,100) | ||||||||||||||||||||||
Kahoot! ASA | Goldman Sachs International | 550,000 | 08/02/22 | NOK | 27.98 | NOK | 10,065 | (4,860) | ||||||||||||||||||||||
Five9, Inc. | JPMorgan Chase Bank N.A. | 40,000 | 08/05/22 | USD | 116.76 | USD | 3,646 | (54,566) | ||||||||||||||||||||||
Kahoot! ASA | Barclays Bank PLC | 445,000 | 08/09/22 | NOK | 20.35 | NOK | 8,144 | (52,515) | ||||||||||||||||||||||
Rexford Industrial Realty, Inc. | JPMorgan Chase Bank N.A. | 31,500 | 08/12/22 | USD | 61.99 | USD | 1,814 | (37,958) | ||||||||||||||||||||||
$ | (1,412,931) | |||||||||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 4,418,721 | $ | (2,738,215 | ) | $ | (9,846,179) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 9,846,179 | $ | — | $ | — | $ | — | $ | 9,846,179 | ||||||||||||||
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options purchased (a) | $ | — | $ | — | $ | (4,444) | $ | — | $ | — | $ | — | $ | (4,444) | ||||||||||||||
Options written | — | — | 44,408,727 | — | — | — | 44,408,727 | |||||||||||||||||||||
$ | — | $ | — | $ | 44,404,283 | $ | — | $ | — | $ | — | $ | 44,404,283 | |||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | (4,733,943 | ) | $ | — | $ | — | $ | — | $ | (4,733,943 | ) | ||||||||||||
(a) | Options purchased are included in net realized gain (loss) from investments — unaffiliated. |
90 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Innovation and Growth Trust (BIGZ) |
Options: | ||||
Average value of option contracts written | $(10,712,177) |
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 9,846,179 | ||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 9,846,179 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (8,433,248 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 1,412,931 | ||||
Counterparty | | Derivative Liabilities Subject to an MNA by Counterparty | | | Derivatives Available for Offset | | | Non-Cash Collateral Pledged | (a) | | Cash Collateral Pledged | | | Net Amount of Derivative Liabilities | (b) | |||||
Barclays Bank PLC | $ | 269,661 | $ | — | $ | (269,661 | ) | $ | — | $ | — | |||||||||
Citibank N.A. | 116,127 | — | (116,127 | ) | — | — | ||||||||||||||
Goldman Sachs International | 39,760 | — | — | — | 39,760 | |||||||||||||||
JPMorgan Chase Bank N.A. | 644,798 | — | (644,798 | ) | — | — | ||||||||||||||
Morgan Stanley & Co. International PLC | 342,396 | — | (268,691 | ) | — | 73,705 | ||||||||||||||
UBS AG | 189 | — | — | — | 189 | |||||||||||||||
$ | 1,412,931 | $ | — | $ | (1,299,277 | ) | $ | — | $ | 113,654 | ||||||||||
(a) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(b) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Statements of Assets and Liabilities. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Aerospace & Defense | $ | 104,855,040 | $ | — | $ | — | $ | 104,855,040 | ||||||||
Auto Components | 39,715,079 | — | — | 39,715,079 | ||||||||||||
Biotechnology | 37,948,856 | — | — | 37,948,856 | ||||||||||||
Building Products | 12,145,992 | — | — | 12,145,992 | ||||||||||||
Capital Markets | 54,938,793 | — | — | 54,938,793 | ||||||||||||
Diversified Consumer Services | 42,288,138 | — | 33,064,138 | 75,352,276 | ||||||||||||
Electronic Equipment, Instruments & Components | 13,684,567 | — | — | 13,684,567 | ||||||||||||
Entertainment | — | 26,152,890 | — | 26,152,890 | ||||||||||||
Equity Real Estate Investment Trusts (REITs) | 26,406,910 | — | — | 26,406,910 | ||||||||||||
Food Products | 11,198,900 | — | — | 11,198,900 | ||||||||||||
Health Care Equipment & Supplies | 27,344,294 | — | — | 27,344,294 | ||||||||||||
Health Care Technology | 89,697,535 | — | — | 89,697,535 | ||||||||||||
Hotels, Restaurants & Leisure | 66,598,775 | 48,695,692 | — | 115,294,467 |
S C H E D U L E O F IN V E S T M E N T S | 91 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Innovation and Growth Trust (BIGZ) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks (continued) | ||||||||||||||||
Interactive Media & Services | $ | 49,616,005 | $ | — | $ | — | $ | 49,616,005 | ||||||||
Internet & Direct Marketing Retail | 42,184,070 | — | — | 42,184,070 | ||||||||||||
IT Services | 88,727,062 | — | 30,433,994 | 119,161,056 | ||||||||||||
Life Sciences Tools & Services | 236,784,139 | — | — | 236,784,139 | ||||||||||||
Machinery | 54,709,492 | — | — | 54,709,492 | ||||||||||||
Road & Rail | 21,024,792 | — | — | 21,024,792 | ||||||||||||
Semiconductors & Semiconductor Equipment | 187,621,720 | — | — | 187,621,720 | ||||||||||||
Software | 320,942,287 | 28,487,912 | 49,907,356 | 399,337,555 | ||||||||||||
Convertible Notes | — | — | 12,240,000 | 12,240,000 | ||||||||||||
Preferred Securities | ||||||||||||||||
Preferred Stocks | — | — | 486,925,958 | 486,925,958 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 9,128,990 | — | — | 9,128,990 | ||||||||||||
$ | 1,537,561,436 | $ | 103,336,494 | $ | 612,571,446 | $ | 2,253,469,376 | |||||||||
Derivative Financial Instruments (a) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (6,621,443) | $ | (3,224,736) | $ | — | $ | (9,846,179) | ||||||||
(a) | Derivative financial instruments are options written. Options written are shown at value. |
Asset-Backed Securities | Common Stocks | Corporate Bonds | Total | |||||||||||||
Assets | ||||||||||||||||
Opening balance, as of December 31, 2021 | $ | 167,039,627 | $ | 12,000,000 | $ | 544,568,505 | $ | 723,608,132 | ||||||||
Transfers into Level 3 | — | — | — | — | ||||||||||||
Transfers out of Level 3 | — | — | — | — | ||||||||||||
Accrued discounts/premiums | — | — | — | — | ||||||||||||
Net realized gain (loss) | ||||||||||||||||
Net change in unrealized appreciation (depreciation) (a)(b) | (53,634,139 | ) | 240,000 | (131,776,657 | ) | (185,170,796 | ) | |||||||||
Purchases | — | — | 74,134,110 | 74,134,110 | ||||||||||||
Sales | — | — | — | — | ||||||||||||
Closing balance, as of June 30, 2022 | $ | 113,405,488 | $ | 12,240,000 | $ | 486,925,958 | $ | 612,571,446 | ||||||||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 (b) | $ | (53,634,139 | ) | $ | 240,000 | $ | (131,776,657 | ) | $ | (185,170,796 | ) | |||||
(a) | Included in the related net change in unrealized appreciation (depreciation) in the Statements of Operations. |
(b) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 is generally due to investments no longer held or categorized as Level 3 at period end. |
Value | | Valuation Approach | | | Unobservable Inputs (a) | | | Range of Unobservable Inputs Utilized | (a) | | Weighted Average of Unobservable Inputs Based on Fair Value | | ||||||||
Assets | ||||||||||||||||||||
Common Stocks | $ | 113,405,488 | Market | Revenue Multiple | 10.00x - 25.00x | 15.33x | ||||||||||||||
EBITDA Multiple | 18.00x | — | ||||||||||||||||||
Convertible Notes | 12,240,000 | Income | Discount Rate | 23% | — | |||||||||||||||
Market | Revenue Multiple | 2.20x | — | |||||||||||||||||
Volatility | 63% | — | ||||||||||||||||||
Preferred Stocks | 486,925,958 | Market | Revenue Multiple | 1.30x - 25.00x | 11.33x | |||||||||||||||
Time to Exit | 2.0 - 5.0 years | 3.2 years | ||||||||||||||||||
Volatility | 45% - 90% | 66% |
92 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Innovation and Growth Trust (BIGZ) |
Value | | Valuation Approach | | Unobservable Inputs (a) | | Range of Unobservable Inputs Utilized | (a) | | Weighted Average of Unobservable Inputs Based on Fair Value | | ||||||||
Market Adjustment Multiple | 0.90x - 1.00x | 0.95x | ||||||||||||||||
$ | 612,571,446 | |||||||||||||||||
(a) | A significant change in unobservable input would have resulted in a correlated (inverse) significant change to value. |
S C H E D U L E O F IN V E S T M E N T S | 93 |
Schedule of Investments (unaudited) June 30, 2022 | BlackRock Resources & Commodities Strategy Trust (BCX) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Chemicals — 13.5% | ||||||||
Albemarle Corp. (a) | 39,976 | $ | 8,354,185 | |||||
CF Industries Holdings, Inc. | 152,792 | 13,098,858 | ||||||
FMC Corp. (a) | 238,833 | 25,557,519 | ||||||
Koninklijke DSM NV | 92,957 | 13,316,140 | ||||||
Nutrien Ltd. | 491,648 | 39,179,429 | ||||||
Sociedad Quimica y Minera de Chile SA, ADR (a) | 225,379 | 18,825,908 | ||||||
118,332,039 | ||||||||
Containers & Packaging — 0.5% | ||||||||
Packaging Corp. of America (a) | 33,028 | 4,541,350 | ||||||
Electrical Equipment — 0.5% | ||||||||
Vestas Wind Systems A/S | 224,068 | 4,764,133 | ||||||
Food Products — 7.2% | ||||||||
Bunge Ltd. (a)(b) | 255,485 | 23,169,935 | ||||||
Darling Ingredients, Inc. (a)(c) | 156,591 | 9,364,142 | ||||||
Hofseth International A/S, (Acquired 05/26/21, Cost: $10,198,056) (c)(d)(e) | 18,993,283 | 10,682,841 | ||||||
Kerry Group PLC, Class A | 129,883 | 12,420,968 | ||||||
Nestle SA, Registered Shares | 62,375 | 7,289,933 | ||||||
62,927,819 | ||||||||
Machinery (a) — 4.4% | ||||||||
AGCO Corp. | 168,181 | 16,599,466 | ||||||
Deere & Co. | 73,217 | 21,926,295 | ||||||
38,525,761 | ||||||||
Metals & Mining — 24.6% | ||||||||
Alcoa Corp. (a) | 174,140 | 7,937,301 | ||||||
Anglo American PLC | 162,903 | 5,823,549 | ||||||
ArcelorMittal SA, Registered Shares (a) | 612,749 | 13,848,128 | ||||||
First Quantum Minerals Ltd. | 695,612 | 13,196,741 | ||||||
Franco-Nevada Corp. (a) | 64,719 | 8,515,726 | ||||||
Freeport-McMoRan, Inc. (a) | 96,413 | 2,821,044 | ||||||
Glencore PLC | 8,764,363 | 47,471,611 | ||||||
Newcrest Mining Ltd. | 757,397 | 10,790,046 | ||||||
Newmont Corp. (a) | 378,867 | 22,606,994 | ||||||
Norsk Hydro ASA | 1,955,124 | 11,048,916 | ||||||
Polyus PJSC, Registered Shares, GDR (d)(f) | 209,464 | 2,095 | ||||||
Stelco Holdings, Inc. | 459,581 | 11,489,525 | ||||||
Teck Resources Ltd., Class B (a) | 419,788 | 12,832,919 | ||||||
Vale SA, ADR (a) | 2,009,197 | 29,394,552 | ||||||
Wheaton Precious Metals Corp. (a) | 511,930 | 18,444,838 | ||||||
216,223,985 | ||||||||
Oil, Gas & Consumable Fuels — 44.5% | ||||||||
Cenovus Energy, Inc. | 243,150 | 4,626,121 | ||||||
Chevron Corp. (a)(b) | 299,104 | 43,304,277 | ||||||
ConocoPhillips (a) | 395,703 | 35,538,087 | ||||||
EOG Resources, Inc. (a) | 149,421 | 16,502,055 | ||||||
Equinor ASA | 314,700 | 10,965,843 |
Security | Shares | Value | ||||||
Oil, Gas & Consumable Fuels (continued) | ||||||||
Exxon Mobil Corp. (a)(b) | 850,199 | $ | 72,811,042 | |||||
Gazprom PJSC, ADR (d) | 2,715,000 | 1,005 | ||||||
Hess Corp. (a) | 101,335 | 10,735,430 | ||||||
Marathon Petroleum Corp. (a) | 108,259 | 8,899,972 | ||||||
Phillips 66 (a) | 162,182 | 13,297,302 | ||||||
Pioneer Natural Resources Co. (a) | 55,534 | 12,388,525 | ||||||
Repsol SA | 309,150 | 4,557,489 | ||||||
Shell PLC, ADR (a) | 929,232 | 48,589,541 | ||||||
Suncor Energy, Inc. | 887,996 | 31,154,366 | ||||||
TC Energy Corp. | 348,250 | 18,040,173 | ||||||
TotalEnergies SE | 1,140,334 | 60,023,723 | ||||||
391,434,951 | ||||||||
Paper & Forest Products — 2.5% | ||||||||
Precious Woods Holding AG, Registered Shares (c) | 20,000 | 268,161 | ||||||
UPM-Kymmene OYJ | 708,034 | 21,710,658 | ||||||
21,978,819 | ||||||||
Total Long-Term Investments — 97.7% (Cost: $749,620,553) | 858,728,857 | |||||||
Short-Term Securities | ||||||||
Money Market Funds — 2.9% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33%(g)(h) | 25,116,689 | 25,116,689 | ||||||
Total Short-Term Securities — 2.9% (Cost: $25,116,689) | 25,116,689 | |||||||
Total Investments Before Options Written — 100.6% (Cost: $774,737,242) | 883,845,546 | |||||||
Options Written — (0.4)% (Premiums Received: $(10,340,170)) | (3,865,208 | ) | ||||||
Total Investments, Net of Options Written — 100.2% (Cost: $764,397,072) | 879,980,338 | |||||||
Liabilities in Excess of Other Assets — (0.2)% | (1,362,524 | ) | ||||||
Net Assets — 100.0% | $ | 878,617,814 | ||||||
(a) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(b) | All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives. |
(c) | Non-income producing security. |
(d) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(e) | Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $10,682,841, representing 1.2% of its net assets as of period end, and an original cost of $10,198,056. |
(f) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. |
(g) | Affiliate of the Trust. |
(h) | Annualized 7-day yield as of period end. |
94 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Resources & Commodities Strategy Trust (BCX) |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 16,654,313 | $ | 8,462,376 | (a) | $ | — | $ | — | $ | — | $ | 25,116,689 | 25,116,689 | $ | 39,871 | $ | — | ||||||||||||||||||
(a) | Represents net amount purchased (sold). |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call | ||||||||||||||||||||||||
Pioneer Natural Resources Co. | 104 | 07/01/22 | USD | 290.00 | USD | 2,320 | $ | (520) | ||||||||||||||||
AGCO Corp. | 410 | 07/15/22 | USD | 120.00 | USD | 4,047 | (20,500) | |||||||||||||||||
Albemarle Corp. | 150 | 07/15/22 | USD | 240.00 | USD | 3,135 | (15,375) | |||||||||||||||||
ArcelorMittal SA | 560 | 07/15/22 | USD | 31.00 | USD | 1,266 | (6,160) | |||||||||||||||||
Bunge Ltd. | 412 | 07/15/22 | USD | 120.00 | USD | 3,736 | (2,060) | |||||||||||||||||
Bunge Ltd. | 533 | 07/15/22 | USD | 110.00 | USD | 4,834 | (15,990) | |||||||||||||||||
Cenovus Energy Inc. | 641 | 07/15/22 | CAD | 26.50 | CAD | 1,570 | (19,670) | |||||||||||||||||
Darling Ingredients, Inc. | 220 | 07/15/22 | USD | 85.00 | USD | 1,316 | (3,300) | |||||||||||||||||
Exxon Mobil Corp. | 470 | 07/15/22 | USD | 100.00 | USD | 4,025 | (5,170) | |||||||||||||||||
FMC Corp. | 451 | 07/15/22 | USD | 125.00 | USD | 4,826 | (33,825) | |||||||||||||||||
HESS Corp. | 220 | 07/15/22 | USD | 130.00 | USD | 2,331 | (9,900) | |||||||||||||||||
Marathon Petroleum Corp. | 270 | 07/15/22 | USD | 100.00 | USD | 2,220 | (3,105) | |||||||||||||||||
Newmont Corp. | 380 | 07/15/22 | USD | 70.00 | USD | 2,267 | (2,090) | |||||||||||||||||
Packaging Corp. of America | 122 | 07/15/22 | USD | 145.00 | USD | 1,678 | (11,285) | |||||||||||||||||
Phillips 66 | 95 | 07/15/22 | USD | 105.00 | USD | 779 | (713) | |||||||||||||||||
Shell PLC, ADR | 597 | 07/15/22 | USD | 57.50 | USD | 3,122 | (13,432) | |||||||||||||||||
Shell PLC, ADR | 496 | 07/15/22 | USD | 60.00 | USD | 2,594 | (3,720) | |||||||||||||||||
Sociedad Quimica y Minera de Chile SA, ADR | 486 | 07/15/22 | USD | 100.00 | USD | 4,060 | (18,225) | |||||||||||||||||
Stelco Holdings Inc. | 668 | 07/15/22 | CAD | 52.00 | CAD | 2,150 | (20,239) | |||||||||||||||||
Stelco Holdings Inc. | 200 | 07/15/22 | CAD | 41.00 | CAD | 644 | (1,942) | |||||||||||||||||
Vale SA, ADR | 1,208 | 07/15/22 | USD | 16.00 | USD | 1,767 | (22,348) | |||||||||||||||||
Alcoa Corp. | 160 | 07/22/22 | USD | 64.00 | USD | 729 | (1,680) | |||||||||||||||||
ArcelorMittal SA | 560 | 07/22/22 | USD | 31.00 | USD | 1,266 | (4,480) | |||||||||||||||||
ConocoPhillips | 294 | 07/22/22 | USD | 127.00 | USD | 2,640 | (11,172) | |||||||||||||||||
Deere & Co. | 37 | 07/22/22 | USD | 370.00 | USD | 1,108 | (2,720) | |||||||||||||||||
EOG Resources, Inc. | 144 | 07/22/22 | USD | 153.20 | USD | 1,590 | (5,040) | |||||||||||||||||
Exxon Mobil Corp. | 492 | 07/22/22 | USD | 105.00 | USD | 4,213 | (5,658) | |||||||||||||||||
Exxon Mobil Corp. | 413 | 07/22/22 | USD | 109.00 | USD | 3,537 | (3,304) | |||||||||||||||||
Marathon Petroleum Corp. | 239 | 07/22/22 | USD | 120.00 | USD | 1,965 | (3,824) | |||||||||||||||||
Teck Resources Ltd., Class B | 695 | 07/22/22 | USD | 41.00 | USD | 2,125 | (18,070) | |||||||||||||||||
Vale SA, ADR | 2,400 | 07/22/22 | USD | 16.00 | USD | 3,511 | (54,000) | |||||||||||||||||
Shell PLC, ADR | 808 | 07/25/22 | USD | 59.50 | USD | 4,225 | (22,548) | |||||||||||||||||
Darling Ingredients, Inc. | 360 | 07/27/22 | USD | 79.00 | USD | 2,153 | (2,231) | |||||||||||||||||
ArcelorMittal SA | 571 | 07/29/22 | USD | 30.00 | USD | 1,290 | (7,709) | |||||||||||||||||
Chevron Corp. | 250 | 07/29/22 | USD | 165.00 | USD | 3,620 | (24,500) | |||||||||||||||||
ConocoPhillips | 312 | 07/29/22 | USD | 127.00 | USD | 2,802 | (10,296) | |||||||||||||||||
ConocoPhillips | 206 | 07/29/22 | USD | 95.00 | USD | 1,850 | (54,590) | |||||||||||||||||
Deere & Co. | 113 | 07/29/22 | USD | 355.00 | USD | 3,384 | (10,566) | |||||||||||||||||
EOG Resources, Inc. | 241 | 07/29/22 | USD | 138.20 | USD | 2,662 | (11,448) | |||||||||||||||||
Freeport-McMoRan, Inc. | 178 | 07/29/22 | USD | 33.00 | USD | 521 | (12,282) | |||||||||||||||||
Newmont Corp. | 500 | 07/29/22 | USD | 70.00 | USD | 2,984 | (13,500) | |||||||||||||||||
Phillips 66 | 205 | 07/29/22 | USD | 94.00 | USD | 1,681 | (20,500) | |||||||||||||||||
Pioneer Natural Resources Co. | 101 | 07/29/22 | USD | 245.00 | USD | 2,253 | (53,530) | |||||||||||||||||
Vale SA, ADR | 1,460 | 07/29/22 | USD | 15.50 | USD | 2,136 | (59,860) | |||||||||||||||||
Wheaton Precious Metals Corp. | 840 | 07/29/22 | USD | 41.00 | USD | 3,027 | (23,100) |
S C H E D U L E O F IN V E S T M E N T S | 95 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Resources & Commodities Strategy Trust (BCX) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
Franco-Nevada Corp. | 120 | 08/01/22 | USD | 147.00 | USD | 1,579 | $ | (12,348) | ||||||||||||||||
Alcoa Corp. | 289 | 08/05/22 | USD | 58.00 | USD | 1,317 | (22,686) | |||||||||||||||||
ArcelorMittal SA | 576 | 08/05/22 | USD | 25.00 | USD | 1,302 | (37,152) | |||||||||||||||||
Chevron Corp. | 397 | 08/05/22 | USD | 155.00 | USD | 5,748 | (138,950) | |||||||||||||||||
Conocophillips | 403 | 08/05/22 | USD | 102.00 | USD | 3,619 | (54,808) | |||||||||||||||||
Deere & Co. | 67 | 08/05/22 | USD | 315.00 | USD | 2,006 | (54,940) | |||||||||||||||||
EOG Resources, Inc. | 167 | 08/05/22 | USD | 130.00 | USD | 1,844 | (25,885) | |||||||||||||||||
Exxon Mobil Corp. | 1,770 | 08/05/22 | USD | 94.00 | USD | 15,158 | (305,325) | |||||||||||||||||
Hess Corp. | 155 | 08/05/22 | USD | 114.00 | USD | 1,642 | (62,000) | |||||||||||||||||
Marathon Petroleum Corp. | 157 | 08/05/22 | USD | 94.00 | USD | 1,291 | (21,666) | |||||||||||||||||
Newmont Corp. | 521 | 08/05/22 | USD | 66.00 | USD | 3,109 | (41,940) | |||||||||||||||||
Phillips 66 | 211 | 08/05/22 | USD | 90.00 | USD | 1,730 | (46,420) | |||||||||||||||||
Shell PLC, ADR | 1,000 | 08/05/22 | USD | 54.50 | USD | 5,229 | (159,354) | |||||||||||||||||
Teck Resources Ltd., Class B | 528 | 08/05/22 | USD | 37.00 | USD | 1,614 | (30,096) | |||||||||||||||||
Vale SA, ADR | 1,209 | 08/05/22 | USD | 17.00 | USD | 1,769 | (23,575) | |||||||||||||||||
Wheaton Precious Metals Corp. | 638 | 08/05/22 | USD | 40.00 | USD | 2,299 | (35,090) | |||||||||||||||||
Chevron Corp. | 459 | 08/12/22 | USD | 155.00 | USD | 6,645 | (185,895) | |||||||||||||||||
Shell PLC, ADR | 367 | 08/12/22 | USD | 55.78 | USD | 1,919 | (51,753) | |||||||||||||||||
Teck Resources Ltd., Class B | 330 | 08/12/22 | USD | 37.01 | USD | 1,009 | (22,442) | |||||||||||||||||
Vale SA, ADR | 1,157 | 08/12/22 | USD | 16.11 | USD | 1,693 | (50,460) | |||||||||||||||||
Wheaton Precious Metals Corp. | 416 | 08/12/22 | USD | 38.00 | USD | 1,499 | (52,000) | |||||||||||||||||
AGCO Corp. | 212 | 08/19/22 | USD | 105.00 | USD | 2,092 | (87,980) | |||||||||||||||||
Alcoa Corp. | 195 | 08/19/22 | USD | 60.00 | USD | 889 | (18,427) | |||||||||||||||||
Cenovus Energy Inc. | 584 | 08/19/22 | CAD | 31.00 | CAD | 1,430 | (18,602) | |||||||||||||||||
ConocoPhillips | 249 | 08/19/22 | USD | 105.00 | USD | 2,236 | (39,714) | |||||||||||||||||
Deere & Co. | 53 | 08/19/22 | USD | 350.00 | USD | 1,587 | (19,345) | |||||||||||||||||
FMC Corp. | 432 | 08/19/22 | USD | 110.00 | USD | 4,623 | (183,600) | |||||||||||||||||
Franco-Nevada Corp. | 120 | 08/19/22 | USD | 150.00 | USD | 1,579 | (18,600) | |||||||||||||||||
Freeport-McMoRan, Inc. | 178 | 08/19/22 | USD | 34.00 | USD | 521 | (15,842) | |||||||||||||||||
Phillips 66 | 145 | 08/19/22 | USD | 110.00 | USD | 1,189 | (5,075) | |||||||||||||||||
Shell PLC, ADR | 170 | 08/19/22 | USD | 56.50 | USD | 889 | (25,613) | |||||||||||||||||
Sociedad Quimica y Minera de Chile SA, ADR | 350 | 08/19/22 | USD | 106.17 | USD | 2,924 | (35,690) | |||||||||||||||||
Stelco Holdings Inc. | 832 | 08/19/22 | CAD | 38.00 | CAD | 2,677 | (59,789) | |||||||||||||||||
Suncor Energy Inc. | 1,114 | 08/19/22 | CAD | 49.00 | CAD | 5,031 | (154,049) | |||||||||||||||||
Suncor Energy Inc. | 1,001 | 08/19/22 | CAD | 52.00 | CAD | 4,521 | (82,432) | |||||||||||||||||
TC Energy Corp. | 664 | 08/19/22 | CAD | 72.00 | CAD | 4,428 | (26,824) | |||||||||||||||||
Suncor Energy Inc. | 1,001 | 09/16/22 | CAD | 52.00 | CAD | 4,521 | (120,537) | |||||||||||||||||
Suncor Energy Inc. | 265 | 09/16/22 | CAD | 56.00 | CAD | 1,197 | (18,117) | |||||||||||||||||
TC Energy Corp. | 624 | 09/16/22 | CAD | 70.00 | CAD | 4,161 | (69,323) | |||||||||||||||||
$ | (3,100,521) | |||||||||||||||||||||||
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
Anglo American PLC | Morgan Stanley & Co. International PLC | 26,900 | 07/06/22 | GBP | 34.76 | GBP | 790 | $ | (52) | |||||||||||||||||||||
Norsk Hydro ASA | Merrill Lynch International | 370,000 | 07/06/22 | NOK | 74.76 | NOK | 20,409 | (14) | ||||||||||||||||||||||
Koninklijke Dsm N.V. | Goldman Sachs International | 26,800 | 07/12/22 | EUR | 145.67 | EUR | 3,674 | (27,705) | ||||||||||||||||||||||
Total SA | Morgan Stanley & Co. International PLC | 162,000 | 07/12/22 | EUR | 54.27 | EUR | 8,160 | (20,643) | ||||||||||||||||||||||
Kerry Group PLC | Goldman Sachs International | 49,200 | 07/13/22 | EUR | 100.65 | EUR | 4,494 | (4,560) | ||||||||||||||||||||||
Anglo American PLC | Morgan Stanley & Co. International PLC | 33,384 | 07/19/22 | GBP | 40.65 | GBP | 980 | (36) | ||||||||||||||||||||||
UPM Kymmene OYJ | Morgan Stanley & Co. International PLC | 90,000 | 07/19/22 | EUR | 34.05 | EUR | 2,611 | (3,139) | ||||||||||||||||||||||
Nestle SA | Morgan Stanley & Co. International PLC | 13,000 | 07/20/22 | CHF | 125.32 | CHF | 1,449 | (813) | ||||||||||||||||||||||
Koninklijke Dsm N.V. | Credit Suisse International | 7,600 | 07/27/22 | EUR | 160.28 | EUR | 1,042 | (2,588) | ||||||||||||||||||||||
Total SA | UBS AG | 108,500 | 07/27/22 | EUR | 57.38 | EUR | 5,465 | (14,837) | ||||||||||||||||||||||
UPM Kymmene OYJ | Goldman Sachs International | 172,000 | 07/27/22 | EUR | 34.28 | EUR | 4,990 | (9,895) | ||||||||||||||||||||||
Newcrest Mining Ltd. | Morgan Stanley & Co. International PLC | 78,000 | 07/28/22 | AUD | 24.54 | AUD | 1,629 | (2,218) | ||||||||||||||||||||||
Statoil ASA | Morgan Stanley & Co. International PLC | 58,200 | 07/28/22 | NOK | 350.73 | NOK | 19,936 | (75,758) | ||||||||||||||||||||||
Nestle SA | Morgan Stanley & Co. International PLC | 10,100 | 08/09/22 | CHF | 111.46 | CHF | 1,126 | (29,990) | ||||||||||||||||||||||
Repsol SA | Credit Suisse International | 145,600 | 08/09/22 | EUR | 14.41 | EUR | 2,046 | (84,345) |
96 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Resources & Commodities Strategy Trust (BCX) |
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||||
Statoil ASA | Morgan Stanley & Co. International PLC | 58,200 | 08/09/22 | NOK | 350.68 | NOK | 19,936 | $ | (91,475 | ) | ||||||||||||||||||||
Total SA | JPMorgan International Bank Ltd. | 156,400 | 08/09/22 | EUR | 50.96 | EUR | 7,878 | (291,232 | ) | |||||||||||||||||||||
Newcrest Mining Ltd. | UBS AG | 202,300 | 08/11/22 | AUD | 22.28 | AUD | 4,226 | (72,687 | ) | |||||||||||||||||||||
Norsk Hydro ASA | Morgan Stanley & Co. International PLC | 353,400 | 08/11/22 | NOK | 65.28 | NOK | 19,494 | (32,700 | ) | |||||||||||||||||||||
$ | (764,687 | ) | ||||||||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 6,709,495 | $ | (234,533 | ) | $ | (3,865,208) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 3,865,208 | $ | — | $ | — | $ | — | $ | 3,865,208 | ||||||||||||||
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options purchased (a) | $ | — | $ | — | $ | (1,311 | ) | $ | — | $ | — | $ | — | $ | (1,311 | ) | ||||||||||||
Options written | — | — | (40,509,948 | ) | — | — | — | (40,509,948 | ) | |||||||||||||||||||
$ | — | $ | — | $ | (40,511,259 | ) | $ | — | $ | — | $ | — | $ | (40,511,259 | ) | |||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options purchased (b) | $ | — | $ | — | $ | 1,311 | $ | — | $ | — | $ | — | $ | 1,311 | ||||||||||||||
Options written | — | — | 7,850,011 | — | — | — | 7,850,011 | |||||||||||||||||||||
$ | — | $ | — | $ | 7,851,322 | $ | — | $ | — | $ | — | $ | 7,851,322 | |||||||||||||||
(a) | Options purchased are included in net realized gain (loss) from investments — unaffiliated. |
(b) | Options purchased are included in net change in unrealized appreciation (depreciation) on investments — unaffiliated. |
Options: | ||||
Average value of option contracts written | $ | 9,375,481 |
S C H E D U L E O F IN V E S T M E N T S | 97 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Resources & Commodities Strategy Trust (BCX) |
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 3,865,208 | ||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 3,865,208 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (3,100,521 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 764,687 | ||||
Counterparty | | Derivative Liabilities Subject to an MNA by Counterparty | | | Derivatives Available for Offset | | | Non-Cash Collateral Pledged | (a) | | Cash Collateral Pledged | | | Net Amount of Derivative Liabilities | (b) | |||||
Credit Suisse International | $ | 86,933 | $ | — | $ | — | $ | — | $ | 86,933 | ||||||||||
Goldman Sachs International | 42,160 | — | (42,160 | ) | — | — | ||||||||||||||
JPMorgan International Bank Ltd. | 291,232 | — | (291,232 | ) | — | — | ||||||||||||||
Merrill Lynch International | 14 | — | — | — | 14 | |||||||||||||||
Morgan Stanley & Co. International PLC | 256,824 | — | (256,824 | ) | — | — | ||||||||||||||
UBS AG | 87,524 | — | (87,524 | ) | — | — | ||||||||||||||
$ | 764,687 | $ | — | $ | (677,740 | ) | $ | — | $ | 86,947 | ||||||||||
(a) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(b) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Statements of Assets and Liabilities. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Chemicals | $ | 105,015,899 | $ | 13,316,140 | $ | — | $ | 118,332,039 | ||||||||
Containers & Packaging | 4,541,350 | — | — | 4,541,350 | ||||||||||||
Electrical Equipment | — | 4,764,133 | — | 4,764,133 | ||||||||||||
Food Products | 32,534,077 | 19,710,901 | 10,682,841 | 62,927,819 | ||||||||||||
Machinery | 38,525,761 | — | — | 38,525,761 | ||||||||||||
Metals & Mining | 141,087,768 | 75,134,122 | 2,095 | 216,223,985 | ||||||||||||
Oil, Gas & Consumable Fuels | 315,886,891 | 75,547,055 | 1,005 | 391,434,951 | ||||||||||||
Paper & Forest Products | — | 21,978,819 | — | 21,978,819 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 25,116,689 | — | — | 25,116,689 | ||||||||||||
$ | 662,708,435 | $ | 210,451,170 | $ | 10,685,941 | $ | 883,845,546 | |||||||||
Derivative Financial Instruments (a) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (2,718,082 | ) | $ | (1,147,126 | ) | $ | — | $ | (3,865,208 | ) | |||||
(a) | Derivative financial instruments are options written. Options written are shown at value. |
98 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Resources & Commodities Strategy Trust (BCX) |
Common Stocks | ||||
Assets | ||||
Opening balance, as of December 31, 2021 | $ | 9,834,654 | ||
Transfers into Level 3 (a) | 28,028,121 | |||
Transfers out of Level 3 (b) | — | |||
Accrued discounts/premiums | — | |||
Net realized gain (loss) | (45,466 | ) | ||
Net change in unrealized appreciation (depreciation) (c)(d) | (40,936,039 | ) | ||
Purchases | 14,219,305 | |||
Sales | (414,634 | ) | ||
Closing balance, as of June 30, 2022 | $ | 10,685,941 | ||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 (d) | $ | (40,936,039 | ) | |
(a) | As of December 31, 2021, the Trust used observable inputs in determining the value of certain investments. As of June 30, 2022, the Trust used significant unobservable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 2 to Level 3 in the disclosure hierarchy. |
(b) | As of December 31, 2021, the Trust used significant unobservable inputs in determining the value of certain investments. As of June 30, 2022, the Trust used observable inputs in determining the value of the same investments. As a result, investments at beginning of period value were transferred from Level 3 to Level 2 in the disclosure hierarchy. |
(c) | Included in the related net change in unrealized appreciation (depreciation) in the Statements of Operations. |
(d) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 is generally due to investments no longer held or categorized as Level 3 at period end. |
Value | | Valuation Approach | | | Unobservable Inputs | | | Range of Unobservable Inputs Utilized | (a) | |||||||
Assets | ||||||||||||||||
Common Stocks | $ | 10,682,841 | Market | EBITDA Multiple | 22.00x | |||||||||||
$ | 10,682,841 | |||||||||||||||
(a) | A significant change in unobservable input would have resulted in a correlated (inverse) significant change to value. |
S C H E D U L E O F IN V E S T M E N T S | 99 |
Consolidated Schedule of Investments (unaudited) June 30, 2022 | BlackRock Science and Technology Trust (BST) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Automobiles — 2.1% | ||||||||
Tesla, Inc. (a)(b) | 34,250 | $ | 23,064,635 | |||||
Banks — 1.8% | ||||||||
Klarna Holdings AB, (Acquired 08/07/19, Cost: $7,971,978) (c)(d) | 26,430 | 19,274,271 | ||||||
Capital Markets — 0.7% | ||||||||
S&P Global, Inc. (a) | 23,134 | 7,797,546 | ||||||
Diversified Consumer Services — 0.4% | ||||||||
Think & Learn Private Ltd., (Acquired 09/30/20, Cost: $1,524,948) (c)(d) | 997 | 3,827,869 | ||||||
Electronic Equipment, Instruments & Components — 1.7% | ||||||||
CDW Corp. (a) | 54,202 | 8,540,067 | ||||||
Samsung SDI Co. Ltd. | 23,749 | 9,793,727 | ||||||
18,333,794 | ||||||||
Entertainment — 0.3% | ||||||||
Roku, Inc. (a)(b) | 45,568 | 3,742,956 | ||||||
Hotels, Restaurants & Leisure (a)(b) — 0.9% | ||||||||
Airbnb, Inc., Class A | 32,494 | 2,894,562 | ||||||
Booking Holdings, Inc. | 3,769 | 6,591,943 | ||||||
9,486,505 | ||||||||
Interactive Media & Services — 5.9% | ||||||||
Alphabet, Inc., Class A (a)(b) | 13,882 | 30,252,489 | ||||||
Kakao Corp. | 216,792 | 11,746,895 | ||||||
Snap, Inc., Class A (a)(b) | 242,590 | 3,185,207 | ||||||
Tencent Holdings Ltd. | 164,500 | 7,446,114 | ||||||
Z Holdings Corp. | 1,485,700 | 4,320,525 | ||||||
ZoomInfo Technologies, Inc., CLass A (a)(b) | 196,066 | 6,517,234 | ||||||
63,468,464 | ||||||||
Internet & Direct Marketing Retail — 2.7% | ||||||||
Amazon.com, Inc. (a)(b) | 167,970 | 17,840,092 | ||||||
Cazoo Group Ltd. (b) | 438,236 | 315,530 | ||||||
Jasper Infotech Private Ltd., Series I, (Acquired 08/18/15, Cost: $1,998,435) (c)(d) | 168,640 | 213,970 | ||||||
Meituan, Class B (b)(e) | 203,300 | 5,073,206 | ||||||
MercadoLibre, Inc. (a)(b) | 8,263 | 5,262,457 | ||||||
28,705,255 | ||||||||
IT Services — 15.1% | ||||||||
Accenture PLC, Class A (a) | 50,752 | 14,091,293 | ||||||
Adyen NV (b)(e) | 4,805 | 6,934,249 | ||||||
Automatic Data Processing, Inc. (a) | 24,107 | 5,063,434 | ||||||
Automattic, Inc., Series E, (Acquired 02/03/21, Cost: $7,999,945) (c)(d) | 94,117 | 5,078,553 | ||||||
AvidXchange Holdings, Inc. (a)(b) | 124,651 | 765,357 | ||||||
Block, Inc. (a)(b) | 73,706 | 4,529,971 | ||||||
GMO Payment Gateway, Inc. | 64,700 | 4,608,644 | ||||||
Mastercard, Inc., Class A (a) | 90,717 | 28,619,399 | ||||||
MongoDB, Inc. (a)(b) | 31,339 | 8,132,471 | ||||||
Okta, Inc. (a)(b) | 72,383 | 6,543,423 | ||||||
PayPal Holdings, Inc. (a)(b) | 90,553 | 6,324,222 | ||||||
Salt Payments, Inc., Series C, (Acquired 12/17/21, Cost: $24,999,987) (c)(d) | 12,871 | 15,216,997 | ||||||
Snowflake, Inc., Class A (a)(b) | 13,175 | 1,832,116 | ||||||
Thoughtworks Holding, Inc. (a)(b) | 448,130 | 6,323,114 | ||||||
TRAX Ltd., (Acquired 09/12/19, Cost: $4,000,013) (c)(d) | 106,667 | 4,342,414 |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
TRAX Ltd., Series D, (Acquired 02/18/21, Cost: $1,999,990) (c)(d) | 38,361 | $ | 1,561,676 | |||||
Twilio, Inc., Class A (a)(b) | 67,897 | 5,690,448 | ||||||
Visa, Inc., Class A (a) | 122,365 | 24,092,445 | ||||||
Voltron Data, Inc., Series A, (Acquired 01/18/22, Cost: $10,000,000) (c)(d) | 6,201,935 | 9,116,844 | ||||||
Wise PLC, Class A (b) | 1,002,310 | 3,640,000 | ||||||
162,507,070 | ||||||||
Professional Services — 0.4% | ||||||||
Planet Labs, Inc., (Acquired 01/06/22, Cost: $10,000,000) (d) | 1,000,000 | 4,330,000 | ||||||
Road & Rail — 0.5% | ||||||||
Ant Group Co., Ltd, Series C, (Acquired 05/18/18, Cost: $6,492,863) (c)(d) | 1,703,548 | 5,570,602 | ||||||
Semiconductors & Semiconductor Equipment — 14.8% | ||||||||
Advanced Micro Devices, Inc. (a)(b) | 110,640 | 8,460,641 | ||||||
Alphawave IP Group PLC (b) | 1,844,013 | 3,016,900 | ||||||
Analog Devices, Inc. (a) | 39,090 | 5,710,659 | ||||||
ASML Holding NV | 33,209 | 15,689,191 | ||||||
Broadcom, Inc. (a) | 10,711 | 5,203,511 | ||||||
Credo Technology Group Holding Ltd., (Acquired 01/27/22, Cost: $5,404,499) (d) | 1,071,061 | 12,419,642 | ||||||
Globalfoundries, Inc. (a)(b) | 128,800 | 5,195,792 | ||||||
Lam Research Corp. (a) | 29,879 | 12,732,936 | ||||||
Marvell Technology, Inc. (a) | 565,155 | 24,601,197 | ||||||
Monolithic Power Systems, Inc. (a) | 22,095 | 8,485,364 | ||||||
NVIDIA Corp. (a) | 54,473 | 8,257,562 | ||||||
Qualcomm, Inc. (a) | 35,732 | 4,564,406 | ||||||
Renesas Electronics Corp. (b) | 810,800 | 7,337,217 | ||||||
Soitec SA (b) | 75,893 | 10,901,270 | ||||||
STMicroelectronics NV | 171,818 | 5,433,754 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR (a) | 113,378 | 9,268,651 | ||||||
Wolfspeed, Inc. (a)(b) | 199,937 | 12,686,003 | ||||||
159,964,696 | ||||||||
Software — 21.2% | ||||||||
Adobe, Inc. (a)(b) | 18,274 | 6,689,381 | ||||||
ANSYS, Inc. (a)(b) | 35,186 | 8,419,658 | ||||||
AppLovin Corp., Class A (a)(b) | 164,804 | 5,675,850 | ||||||
Atlassian Corp. PLC, Class A (a)(b) | 37,822 | 7,087,843 | ||||||
AvidXchange, Inc., (Acquired 07/29/20, Cost: $2,022,088) (d) | 165,028 | 1,013,272 | ||||||
Cadence Design Systems, Inc. (a)(b) | 107,937 | 16,193,788 | ||||||
Constellation Software, Inc | 3,049 | 4,526,292 | ||||||
Crowdstrike Holdings, Inc., Class A (a)(b) | 43,297 | 7,298,142 | ||||||
CS Disco, Inc. (a)(b) | 215,329 | 3,884,535 | ||||||
Databricks, Inc., (Acquired 07/24/20, Cost: $960,476) (c)(d) | 19,999 | 3,668,616 | ||||||
DataRobot, Inc., (Acquired 03/01/21, Cost: $583,275) (c)(d) | 38,789 | 434,437 | ||||||
Elastic NV (a)(b) | 47,198 | 3,193,889 | ||||||
Gitlab, Inc., Class A (a)(b) | 144,364 | 7,671,503 | ||||||
Grammarly, Inc., (Acquired 11/17/21, Cost: $18,749,975) (c)(d) | 715,323 | 15,264,993 | ||||||
Intuit, Inc. (a) | 33,520 | 12,919,949 | ||||||
Microsoft Corp. (a) | 254,052 | 65,248,175 | ||||||
Oracle Corp. (a) | 104,180 | 7,279,057 | ||||||
Patreon, Inc., (Acquired 08/19/21, Cost: $3,352,226) (c)(d) | 59,524 | 2,297,031 |
100 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust (BST) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
Salesforce, Inc. (a)(b) | 54,803 | $ | 9,044,687 | |||||
ServiceNow, Inc. (a)(b) | 29,283 | 13,924,652 | ||||||
SiteMinder Ltd. (b) | 2,145,680 | 5,227,743 | ||||||
Snorkel AI, Inc., (Acquired 06/30/21, Cost: $997,636) (c)(d) | 66,422 | 634,994 | ||||||
Snyk Ltd., (Acquired 09/02/21, Cost: $5,192,307) (c)(d) | 361,972 | 3,717,452 | ||||||
Unity Software, Inc. (a)(b) | 114,284 | 4,207,937 | ||||||
Xero Ltd. (b) | 130,197 | 6,944,789 | ||||||
Zscaler, Inc. (a)(b) | 43,943 | 6,569,918 | ||||||
229,038,583 | ||||||||
Technology Hardware, Storage & Peripherals — 6.1% | ||||||||
Apple, Inc. (a) | 483,817 | 66,147,460 | ||||||
Total Common Stocks — 74.6% (Cost: $540,790,983) | 805,259,706 | |||||||
Par (000) | ||||||||
Convertible Notes | ||||||||
Software — 0.9% | ||||||||
Warhol, Inc.(Acquired: 12/14/21, Cost: $8,000,000), 0.00% (c)(d) | $ | 80 | 9,640,000 | |||||
Total Convertible Notes — 0.9% (Cost: $8,000,000) | 9,640,000 | |||||||
Shares | ||||||||
Preferred Securities | ||||||||
Preferred Stocks — 20.4% (c)(d) | ||||||||
Chemicals — 0.6% | ||||||||
Solugen, Inc., (Acquired 09/02/21, Cost: $9,999,977) | 269,284 | 6,923,291 | ||||||
Diversified Consumer Services — 0.4% | ||||||||
Think & Learn Private Ltd., Series F, (Acquired 09/30/20, Cost: $3,052,975) | 1,054 | 4,046,714 | ||||||
Diversified Financial Services — 0.8% | ||||||||
Trumid Holdings LLC, Class L, (Acquired 09/15/21, Cost: $9,999,695), 07/16/22 (f) | 11,420 | 8,511,783 | ||||||
Entertainment — 0.5% | ||||||||
Discord, Inc., Series I, (Acquired 09/13/21, Cost: $7,000,088) | 12,713 | 5,046,044 | ||||||
Food & Staples Retailing — 1.5% | ||||||||
Grubmarket, Inc., Series E, (Acquired 10/18/21, Cost: $6,999,994) | 709,724 | 15,670,706 | ||||||
Food Products — 0.9% | ||||||||
Farmer’s Business Network, Inc. (Acquired 09/15/21, Cost: $6,999,963) | 112,616 | 5,399,937 | ||||||
Series F, (Acquired 07/31/20, Cost: $2,999,886) | 90,750 | 4,161,795 | ||||||
9,561,732 | ||||||||
Interactive Media & Services — 1.4% | ||||||||
ByteDance Ltd., Series E-1, (Acquired 11/11/20, Cost: $9,999,959) | 91,262 | 15,105,319 | ||||||
Security | Shares | Value | ||||||
IT Services — 1.8% | ||||||||
Deep Instinct Ltd., Series D-2, (Acquired 03/19/21, Cost: $2,999,391) | 493,493 | $ | 2,418,115 | |||||
Trumid Holdings LLC (f) | ||||||||
Class J-A, (Acquired 07/24/20, Cost: $2,499,716) | 5,038 | 3,755,023 | ||||||
Class J-B, (Acquired 07/24/20, Cost: $1,499,830) | 5,038 | 3,755,023 | ||||||
Voltron Data, Inc., (Acquired 07/14/21, Cost: $5,000,000) | 9,090,909 | 9,909,091 | ||||||
19,837,252 | ||||||||
Road & Rail — 0.4% | ||||||||
FlixMobility GmbH, Series F, (Acquired 07/26/19, Cost: $5,482,937) | 275 | 3,845,269 | ||||||
Semiconductors & Semiconductor Equipment — 4.1% | ||||||||
PsiQuantum Corp. | ||||||||
Series C, (Acquired 09/09/19, Cost: $3,200,234) | 690,003 | 14,200,262 | ||||||
Series C, (Acquired 05/21/21, Cost: $5,000,025) | 190,650 | 4,873,014 | ||||||
Rivos, Inc., Series A, (Acquired 12/03/21, Cost: $12,003,705) | 4,500,000 | 10,800,000 | ||||||
SambaNova Systems, Inc., Series C, (Acquired 02/20/20, Cost: $9,972,125) | 187,300 | 14,231,054 | ||||||
44,104,330 | ||||||||
Software — 8.0% | ||||||||
Bolt Financial, Inc., Series E, (Acquired 01/18/22, Cost: $29,999,955) | 598,682 | 20,289,333 | ||||||
Databricks, Inc. | ||||||||
Series F, (Acquired 10/22/19, Cost: $3,999,999) | 93,135 | 17,084,684 | ||||||
Series G, (Acquired 02/01/21, Cost: $4,500,001) | 25,371 | 4,654,056 | ||||||
DataRobot, Inc., Series F, (Acquired 10/27/20, Cost: $2,999,996) | 228,276 | 2,565,822 | ||||||
Grammarly, Inc., Series 3, (Acquired 11/17/21, Cost: $6,249,992) | 238,441 | 5,088,331 | ||||||
MNTN Digital, Inc., (Acquired 11/05/21, Cost: $24,999,980) | 1,088,598 | 15,773,785 | ||||||
Patreon, Inc., Series D, (Acquired 07/14/21, Cost: $6,666,632) | 119,047 | 4,594,024 | ||||||
Prosimo, Inc., Series B, (Acquired 11/04/21, Cost: $4,999,998) | 2,515,811 | 4,327,195 | ||||||
Snorkel AI, Inc., Series C, (Acquired 06/30/21, Cost: $4,999,985) | 332,896 | 3,182,486 | ||||||
Snyk Ltd., Series B, (Acquired 09/02/21, Cost: $4,807,688) | 335,159 | 3,442,083 | ||||||
Unqork, Inc. | ||||||||
Series B, (Acquired 09/19/19, Cost: $3,198,416) | 281,080 | 4,938,576 | ||||||
Series C, (Acquired 09/18/20, Cost: $1,303,260) | 47,600 | 836,332 | ||||||
86,776,707 | ||||||||
219,429,147 | ||||||||
Total Preferred Securities — 20.4% (Cost: $203,436,402) | 219,429,147 | |||||||
C O N S O L I D A T E D SC H E D U L E O F IN V E S T M E N T S | 101 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust (BST) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Warrants | ||||||||
IT Services — 0.0% | ||||||||
TRAX Ltd., (Expires 09/15/2023), (Acquired 09/12/19, Cost: $0) (c)(d) | 17,065 | $ | 42,321 | |||||
Total Warrants — 0.0% (Cost: $ — ) | 42,321 | |||||||
Total Long-Term Investments — 95.9% (Cost: $752,227,385) | 1,034,371,174 | |||||||
Short-Term Securities | ||||||||
Money Market Funds — 4.5% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33%(g)(h) | 49,223,180 | 49,223,180 | ||||||
Total Short-Term Securities — 4.5% (Cost: $49,223,180) | 49,223,180 | |||||||
Total Investments Before Options Written — 100.4% (Cost: $801,450,565) | 1,083,594,354 | |||||||
Options Written — (0.4)% (Premiums Received: $(10,312,473)) | (4,802,220 | ) | ||||||
Total Investments, Net of Options Written — 100.0% (Cost: $791,138,092) | 1,078,792,134 | |||||||
Other Assets Less Liabilities — 0.0% | 107,061 | |||||||
Net Assets — 100.0% | $ | 1,078,899,195 | ||||||
(a) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(b) | Non-income producing security. |
(c) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(d) | Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $337,095,101, representing 31.2% of its net assets as of period end, and an original cost of $325,687,043. |
(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 is held by a wholly-owned subsidiary. See Note 1 of the Notes to Consolidated Financial Statements for details on the wholly-owned subsidiary. |
(g) | Affiliate of the Trust. |
(h) | Annualized 7-day yield as of period end. |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 42,574,872 | $ | 6,648,308 | (a) | $ | — | $ | — | $ | — | $ | 49,223,180 | 49,223,180 | $ | 70,631 | $ | — | ||||||||||||||||||
SL Liquidity Series, LLC, Money Market Series (b) | 840,396 | — | (840,061 | ) (a) | (335 | ) | — | — | — | 18,028 | (c) | — | ||||||||||||||||||||||||
$ | (335 | ) | $ | — | $ | 49,223,180 | $ | 88,659 | $ | — | ||||||||||||||||||||||||||
(a) | Represents net amount purchased (sold). |
(b) | As of period end, the entity is no longer held. |
(c) | 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. |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||
Adobe, Inc. | 56 | 07/01/22 | USD | 435.00 | USD | 2,050 | $ | (392 | ) | |||||||||||||||||||
Analog Devices, Inc. | 55 | 07/01/22 | USD | 175.00 | USD | 803 | (4,125 | ) | ||||||||||||||||||||
Atlassian Corp. PLC, Class A | 40 | 07/01/22 | USD | 200.00 | USD | 750 | (800 | ) |
102 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust (BST) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||
Booking Holdings, Inc. | 11 | 07/01/22 | USD | 2,250.00 | USD | 1,924 | $ | (2,915 | ) | |||||||||||||||||||
Crowdstrike Holdings, Inc., Class A | 59 | 07/01/22 | USD | 175.00 | USD | 995 | (3,688 | ) | ||||||||||||||||||||
Lam Research Corp. | 70 | 07/01/22 | USD | 525.00 | USD | 2,983 | (70 | ) | ||||||||||||||||||||
S&P Global, Inc. | 90 | 07/01/22 | USD | 350.00 | USD | 3,034 | (4,950 | ) | ||||||||||||||||||||
ServiceNow, Inc. | 59 | 07/01/22 | USD | 485.00 | USD | 2,806 | (11,210 | ) | ||||||||||||||||||||
Unity Software, Inc. | 149 | 07/01/22 | USD | 44.00 | USD | 549 | (447 | ) | ||||||||||||||||||||
Accenture PLC, Class A | 103 | 07/08/22 | USD | 315.00 | USD | 2,860 | (6,695 | ) | ||||||||||||||||||||
Analog Devices, Inc. | 75 | 07/08/22 | USD | 165.00 | USD | 1,096 | (7,500 | ) | ||||||||||||||||||||
Atlassian Corp. PLC, Class A | 34 | 07/08/22 | USD | 210.00 | USD | 637 | (2,890 | ) | ||||||||||||||||||||
Crowdstrike Holdings, Inc., Class A | 86 | 07/08/22 | USD | 195.00 | USD | 1,450 | (2,924 | ) | ||||||||||||||||||||
Intuit, Inc. | 101 | 07/08/22 | USD | 405.00 | USD | 3,893 | (26,512 | ) | ||||||||||||||||||||
MercadoLibre, Inc. | 16 | 07/08/22 | USD | 890.00 | USD | 1,019 | (3,680 | ) | ||||||||||||||||||||
MongoDB, Inc. | 7 | 07/08/22 | USD | 290.00 | USD | 182 | (1,523 | ) | ||||||||||||||||||||
MongoDB, Inc. | 19 | 07/08/22 | USD | 315.00 | USD | 493 | (998 | ) | ||||||||||||||||||||
Oracle Corp. | 71 | 07/08/22 | USD | 70.00 | USD | 496 | (7,987 | ) | ||||||||||||||||||||
Tesla, Inc. | 45 | 07/08/22 | USD | 810.00 | USD | 3,030 | (5,018 | ) | ||||||||||||||||||||
Twilio, Inc., Class A | 139 | 07/08/22 | USD | 125.00 | USD | 1,165 | (7,714 | ) | ||||||||||||||||||||
Accenture PLC, Class A | 108 | 07/15/22 | USD | 290.00 | USD | 2,999 | (24,570 | ) | ||||||||||||||||||||
Adobe, Inc. | 28 | 07/15/22 | USD | 425.00 | USD | 1,025 | (1,148 | ) | ||||||||||||||||||||
Alphabet Inc., Class A | 18 | 07/15/22 | USD | 2,425.00 | USD | 3,923 | (14,580 | ) | ||||||||||||||||||||
Amazon.com, Inc. | 200 | 07/15/22 | USD | 125.00 | USD | 2,124 | (3,600 | ) | ||||||||||||||||||||
Amazon.com, Inc. | 401 | 07/15/22 | USD | 117.00 | USD | 4,259 | (29,874 | ) | ||||||||||||||||||||
ANSYS, Inc. | 83 | 07/15/22 | USD | 260.00 | USD | 1,986 | (24,070 | ) | ||||||||||||||||||||
ANSYS, Inc. | 79 | 07/15/22 | USD | 250.00 | USD | 1,890 | (35,945 | ) | ||||||||||||||||||||
Apple, Inc. | 23 | 07/15/22 | USD | 150.00 | USD | 314 | (759 | ) | ||||||||||||||||||||
Apple, Inc. | 157 | 07/15/22 | USD | 155.00 | USD | 2,147 | (1,963 | ) | ||||||||||||||||||||
AppLovin Corp., Class A | 553 | 07/15/22 | USD | 45.00 | USD | 1,905 | (11,060 | ) | ||||||||||||||||||||
Atlassian Corp. PLC, Class A | 17 | 07/15/22 | USD | 210.00 | USD | 319 | (4,718 | ) | ||||||||||||||||||||
Atlassian Corp. PLC, Class A | 33 | 07/15/22 | USD | 200.00 | USD | 618 | (16,665 | ) | ||||||||||||||||||||
Automatic Data Processing, Inc. | 96 | 07/15/22 | USD | 212.50 | USD | 2,016 | (35,520 | ) | ||||||||||||||||||||
AvidXchange Holdings, Inc. | 134 | 07/15/22 | USD | 10.00 | USD | 82 | (12,060 | ) | ||||||||||||||||||||
Broadcom, Inc. | 48 | 07/15/22 | USD | 530.00 | USD | 2,332 | (6,720 | ) | ||||||||||||||||||||
Cadence Design Systems, Inc. | 42 | 07/15/22 | USD | 160.00 | USD | 630 | (5,985 | ) | ||||||||||||||||||||
Cadence Design Systems, Inc. | 221 | 07/15/22 | USD | 155.00 | USD | 3,316 | (64,090 | ) | ||||||||||||||||||||
CDW Corp. | 121 | 07/15/22 | USD | 160.00 | USD | 1,906 | (38,417 | ) | ||||||||||||||||||||
Crowdstrike Holdings, Inc., Class A | 55 | 07/15/22 | USD | 190.00 | USD | 927 | (11,605 | ) | ||||||||||||||||||||
CS Disco, Inc. | 92 | 07/15/22 | USD | 30.00 | USD | 166 | (3,220 | ) | ||||||||||||||||||||
CS Disco, Inc. | 250 | 07/15/22 | USD | 22.50 | USD | 451 | (45,000 | ) | ||||||||||||||||||||
Elastic NV | 128 | 07/15/22 | USD | 67.46 | USD | 866 | (51,008 | ) | ||||||||||||||||||||
Elastic NV | 27 | 07/15/22 | USD | 80.00 | USD | 183 | (1,418 | ) | ||||||||||||||||||||
Gitlab, Inc., Class A | 189 | 07/15/22 | USD | 50.00 | USD | 1,004 | (100,170 | ) | ||||||||||||||||||||
Globalfoundries Inc. | 400 | 07/15/22 | USD | 65.00 | USD | 1,614 | (6,000 | ) | ||||||||||||||||||||
Globalfoundries Inc. | 256 | 07/15/22 | USD | 55.00 | USD | 1,033 | (5,120 | ) | ||||||||||||||||||||
Intuit, Inc. | 28 | 07/15/22 | USD | 420.00 | USD | 1,079 | (6,720 | ) | ||||||||||||||||||||
Lam Research Corp. | 50 | 07/15/22 | USD | 515.00 | USD | 2,131 | (1,675 | ) | ||||||||||||||||||||
Lam Research Corp. | 30 | 07/15/22 | USD | 480.00 | USD | 1,278 | (6,240 | ) | ||||||||||||||||||||
Mastercard, Inc., Class A | 68 | 07/15/22 | USD | 355.00 | USD | 2,145 | (2,924 | ) | ||||||||||||||||||||
MercadoLibre, Inc. | 7 | 07/15/22 | USD | 900.00 | USD | 446 | (350 | ) | ||||||||||||||||||||
Microsoft Corp. | 136 | 07/15/22 | USD | 280.00 | USD | 3,493 | (8,296 | ) | ||||||||||||||||||||
MongoDB, Inc. | 19 | 07/15/22 | USD | 300.00 | USD | 493 | (6,650 | ) | ||||||||||||||||||||
MongoDB, Inc. | 19 | 07/15/22 | USD | 320.00 | USD | 493 | (2,850 | ) | ||||||||||||||||||||
Monolithic Power Systems, Inc. | 21 | 07/15/22 | USD | 460.00 | USD | 806 | (5,618 | ) | ||||||||||||||||||||
NVIDIA Corp. | 65 | 07/15/22 | USD | 185.00 | USD | 985 | (2,275 | ) | ||||||||||||||||||||
Okta, Inc. | 80 | 07/15/22 | USD | 130.00 | USD | 723 | (760 | ) | ||||||||||||||||||||
Oracle Corp. | 115 | 07/15/22 | USD | 72.50 | USD | 804 | (6,728 | ) | ||||||||||||||||||||
PayPal Holdings, Inc. | 232 | 07/15/22 | USD | 95.00 | USD | 1,620 | (1,624 | ) | ||||||||||||||||||||
Roku, Inc. | 38 | 07/15/22 | USD | 110.00 | USD | 312 | (1,520 | ) | ||||||||||||||||||||
salesforce.com, Inc. | 100 | 07/15/22 | USD | 185.00 | USD | 1,650 | (6,600 | ) | ||||||||||||||||||||
ServiceNow, Inc. | 23 | 07/15/22 | USD | 500.00 | USD | 1,094 | (20,700 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 142 | 07/15/22 | USD | 17.00 | USD | 186 | (1,065 | ) | ||||||||||||||||||||
Snowflake, Inc., Class A | 24 | 07/15/22 | USD | 175.00 | USD | 334 | (1,560 | ) | ||||||||||||||||||||
Tesla, Inc. | 17 | 07/15/22 | USD | 905.00 | USD | 1,145 | (1,173 | ) |
C O N S O L I D A T E D SC H E D U L E O F IN V E S T M E N T S | 103 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust (BST) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||
Thoughtworks Holding, Inc. | 439 | 07/15/22 | USD | 17.50 | USD | 619 | $ | (43,900 | ) | |||||||||||||||||||
Twilio, Inc., Class A | 95 | 07/15/22 | USD | 105.00 | USD | 796 | (5,605 | ) | ||||||||||||||||||||
Unity Software, Inc. | 200 | 07/15/22 | USD | 45.00 | USD | 736 | (10,500 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 102 | 07/15/22 | USD | 215.00 | USD | 2,008 | (4,437 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 157 | 07/15/22 | USD | 202.50 | USD | 3,091 | (46,707 | ) | ||||||||||||||||||||
Wolfspeed, Inc. | 240 | 07/15/22 | USD | 85.00 | USD | 1,523 | (18,000 | ) | ||||||||||||||||||||
ZoomInfo Technologies, Inc. | 479 | 07/15/22 | USD | 50.00 | USD | 1,592 | (16,765 | ) | ||||||||||||||||||||
ZoomInfo Technologies, Inc. | 250 | 07/15/22 | USD | 40.00 | USD | 831 | (7,500 | ) | ||||||||||||||||||||
Zscaler, Inc. | 31 | 07/15/22 | USD | 220.00 | USD | 463 | (713 | ) | ||||||||||||||||||||
Zscaler, Inc. | 34 | 07/15/22 | USD | 165.00 | USD | 508 | (10,047 | ) | ||||||||||||||||||||
Adobe, Inc. | 22 | 07/22/22 | USD | 445.00 | USD | 805 | (836 | ) | ||||||||||||||||||||
Advanced Micro Devices, Inc. | 187 | 07/22/22 | USD | 98.00 | USD | 1,430 | (3,366 | ) | ||||||||||||||||||||
Alphabet Inc., Class A | 19 | 07/22/22 | USD | 2,520.00 | USD | 4,141 | (14,250 | ) | ||||||||||||||||||||
Alphabet Inc., Class A | 7 | 07/22/22 | USD | 2,375.00 | USD | 1,525 | (16,240 | ) | ||||||||||||||||||||
Amazon.com, Inc. | 78 | 07/22/22 | USD | 120.00 | USD | 828 | (6,357 | ) | ||||||||||||||||||||
Analog Devices, Inc. | 75 | 07/22/22 | USD | 160.00 | USD | 1,096 | (6,188 | ) | ||||||||||||||||||||
Apple, Inc. | 244 | 07/22/22 | USD | 155.00 | USD | 3,336 | (6,466 | ) | ||||||||||||||||||||
Atlassian Corp. PLC, Class A | 84 | 07/22/22 | USD | 200.00 | USD | 1,574 | (60,060 | ) | ||||||||||||||||||||
Booking Holdings, Inc. | 7 | 07/22/22 | USD | 2,070.00 | USD | 1,224 | (5,005 | ) | ||||||||||||||||||||
Crowdstrike Holdings, Inc., Class A | 23 | 07/22/22 | USD | 180.00 | USD | 388 | (14,260 | ) | ||||||||||||||||||||
Crowdstrike Holdings, Inc., Class A | 22 | 07/22/22 | USD | 195.00 | USD | 371 | (5,698 | ) | ||||||||||||||||||||
Intuit, Inc. | 21 | 07/22/22 | USD | 390.00 | USD | 809 | (29,505 | ) | ||||||||||||||||||||
Lam Research Corp. | 32 | 07/22/22 | USD | 495.00 | USD | 1,364 | (7,072 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 434 | 07/22/22 | USD | 65.00 | USD | 1,889 | (32,550 | ) | ||||||||||||||||||||
Mastercard, Inc., Class A | 146 | 07/22/22 | USD | 380.00 | USD | 4,606 | (2,628 | ) | ||||||||||||||||||||
Mastercard, Inc., Class A | 36 | 07/22/22 | USD | 335.00 | USD | 1,136 | (13,410 | ) | ||||||||||||||||||||
Microsoft Corp. | 313 | 07/22/22 | USD | 285.00 | USD | 8,039 | (23,475 | ) | ||||||||||||||||||||
MongoDB, Inc. | 30 | 07/22/22 | USD | 320.00 | USD | 779 | (9,225 | ) | ||||||||||||||||||||
Okta, Inc. | 44 | 07/22/22 | USD | 115.00 | USD | 398 | (3,234 | ) | ||||||||||||||||||||
Qualcomm, Inc. | 104 | 07/22/22 | USD | 140.00 | USD | 1,328 | (14,924 | ) | ||||||||||||||||||||
S&P Global, Inc. | 14 | 07/22/22 | USD | 335.00 | USD | 472 | (15,680 | ) | ||||||||||||||||||||
ServiceNow, Inc. | 25 | 07/22/22 | USD | 475.00 | USD | 1,189 | (59,625 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 154 | 07/22/22 | USD | 16.00 | USD | 202 | (9,009 | ) | ||||||||||||||||||||
Tesla, Inc. | 22 | 07/22/22 | USD | 850.00 | USD | 1,482 | (10,230 | ) | ||||||||||||||||||||
Twilio, Inc., Class A | 36 | 07/22/22 | USD | 100.00 | USD | 302 | (6,030 | ) | ||||||||||||||||||||
Twilio, Inc., Class A | 35 | 07/22/22 | USD | 105.00 | USD | 293 | (3,675 | ) | ||||||||||||||||||||
Zscaler, Inc. | 39 | 07/22/22 | USD | 155.00 | USD | 583 | (31,102 | ) | ||||||||||||||||||||
Airbnb, Inc., Class A | 50 | 07/29/22 | USD | 135.00 | USD | 445 | (575 | ) | ||||||||||||||||||||
Airbnb, Inc., Class A | 30 | 07/29/22 | USD | 110.00 | USD | 267 | (2,925 | ) | ||||||||||||||||||||
Apple, Inc. | 158 | 07/29/22 | USD | 140.00 | USD | 2,160 | (72,285 | ) | ||||||||||||||||||||
Apple, Inc. | 357 | 07/29/22 | USD | 145.00 | USD | 4,881 | (95,497 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 210 | 07/29/22 | USD | 54.00 | USD | 914 | (5,985 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 320 | 07/29/22 | USD | 56.00 | USD | 1,393 | (4,320 | ) | ||||||||||||||||||||
Mastercard, Inc., Class A | 117 | 07/29/22 | USD | 335.00 | USD | 3,691 | (73,125 | ) | ||||||||||||||||||||
MercadoLibre, Inc. | 16 | 07/29/22 | USD | 820.00 | USD | 1,019 | (11,040 | ) | ||||||||||||||||||||
Microsoft Corp. | 115 | 07/29/22 | USD | 265.00 | USD | 2,954 | (87,400 | ) | ||||||||||||||||||||
MongoDB, Inc. | 18 | 07/29/22 | USD | 315.00 | USD | 467 | (10,350 | ) | ||||||||||||||||||||
NVIDIA Corp. | 89 | 07/29/22 | USD | 175.00 | USD | 1,349 | (22,561 | ) | ||||||||||||||||||||
Okta, Inc. | 80 | 07/29/22 | USD | 100.00 | USD | 723 | (30,600 | ) | ||||||||||||||||||||
Oracle Corp. | 282 | 07/29/22 | USD | 70.00 | USD | 1,970 | (60,771 | ) | ||||||||||||||||||||
Roku, Inc. | 57 | 07/29/22 | USD | 97.00 | USD | 468 | (21,660 | ) | ||||||||||||||||||||
salesforce.com, Inc. | 40 | 07/29/22 | USD | 180.00 | USD | 660 | (11,820 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 141 | 07/29/22 | USD | 16.00 | USD | 185 | (9,447 | ) | ||||||||||||||||||||
Snowflake, Inc., Class A | 35 | 07/29/22 | USD | 160.00 | USD | 487 | (15,925 | ) | ||||||||||||||||||||
Tesla, Inc. | 14 | 07/29/22 | USD | 775.00 | USD | 943 | (28,945 | ) | ||||||||||||||||||||
Unity Software, Inc. | 89 | 07/29/22 | USD | 43.00 | USD | 328 | (14,818 | ) | ||||||||||||||||||||
Zscaler, Inc. | 29 | 07/29/22 | USD | 190.00 | USD | 434 | (4,452 | ) | ||||||||||||||||||||
Zscaler, Inc. | 24 | 07/29/22 | USD | 170.00 | USD | 359 | (11,160 | ) | ||||||||||||||||||||
Accenture PLC, Class A | 17 | 08/05/22 | USD | 285.00 | USD | 472 | (13,175 | ) | ||||||||||||||||||||
Adobe, Inc. | 17 | 08/05/22 | USD | 405.00 | USD | 622 | (9,435 | ) | ||||||||||||||||||||
Advanced Micro Devices, Inc. | 158 | 08/05/22 | USD | 94.00 | USD | 1,208 | (15,721 | ) | ||||||||||||||||||||
Airbnb, Inc., Class A | 66 | 08/05/22 | USD | 115.00 | USD | 588 | (6,765 | ) |
104 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust (BST) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||
Amazon.com, Inc. | 300 | 08/05/22 | USD | 125.00 | USD | 3,186 | $ | (40,500 | ) | |||||||||||||||||||
Analog Devices, Inc. | 12 | 08/05/22 | USD | 155.00 | USD | 175 | (3,600 | ) | ||||||||||||||||||||
Apple, Inc. | 82 | 08/05/22 | USD | 150.00 | USD | 1,121 | (15,908 | ) | ||||||||||||||||||||
Block Inc., Class A | 210 | 08/05/22 | USD | 85.00 | USD | 1,291 | (20,475 | ) | ||||||||||||||||||||
Gitlab, Inc., Class A | 376 | 08/05/22 | USD | 48.00 | USD | 1,998 | (311,987 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 510 | 08/05/22 | USD | 53.00 | USD | 2,220 | (23,970 | ) | ||||||||||||||||||||
Microsoft Corp. | 124 | 08/05/22 | USD | 270.00 | USD | 3,185 | (81,220 | ) | ||||||||||||||||||||
Okta, Inc. | 151 | 08/05/22 | USD | 105.00 | USD | 1,365 | (48,924 | ) | ||||||||||||||||||||
PayPal Holdings, Inc. | 48 | 08/05/22 | USD | 90.00 | USD | 335 | (4,656 | ) | ||||||||||||||||||||
Qualcomm, Inc. | 76 | 08/05/22 | USD | 135.00 | USD | 971 | (37,810 | ) | ||||||||||||||||||||
Roku, Inc. | 55 | 08/05/22 | USD | 115.00 | USD | 452 | (10,945 | ) | ||||||||||||||||||||
salesforce.com, Inc. | 82 | 08/05/22 | USD | 180.00 | USD | 1,353 | (30,340 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 142 | 08/05/22 | USD | 18.00 | USD | 186 | (5,751 | ) | ||||||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 122 | 08/05/22 | USD | 93.00 | USD | 997 | (7,259 | ) | ||||||||||||||||||||
Tesla, Inc. | 17 | 08/05/22 | USD | 790.00 | USD | 1,145 | (36,720 | ) | ||||||||||||||||||||
Visa, Inc., Class A | 169 | 08/05/22 | USD | 205.00 | USD | 3,327 | (92,105 | ) | ||||||||||||||||||||
Adobe, Inc. | 15 | 08/12/22 | USD | 395.00 | USD | 549 | (15,825 | ) | ||||||||||||||||||||
Advanced Micro Devices, Inc. | 152 | 08/12/22 | USD | 90.06 | USD | 1,162 | (28,384 | ) | ||||||||||||||||||||
Apple, Inc. | 315 | 08/12/22 | USD | 147.68 | USD | 4,307 | (93,309 | ) | ||||||||||||||||||||
Block Inc., Class A | 102 | 08/12/22 | USD | 81.33 | USD | 627 | (17,195 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 880 | 08/12/22 | USD | 51.77 | USD | 3,831 | (79,728 | ) | ||||||||||||||||||||
Microsoft Corp. | 96 | 08/12/22 | USD | 265.00 | USD | 2,466 | (84,960 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 618 | 08/12/22 | USD | 17.17 | USD | 811 | (35,076 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 137 | 08/12/22 | USD | 16.54 | USD | 180 | (9,876 | ) | ||||||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 136 | 08/12/22 | USD | 91.14 | USD | 1,112 | (14,690 | ) | ||||||||||||||||||||
Alphabet Inc., Class A | 18 | 08/19/22 | USD | 2,500.00 | USD | 3,923 | (57,420 | ) | ||||||||||||||||||||
Apple, Inc. | 357 | 08/19/22 | USD | 150.00 | USD | 4,881 | (88,357 | ) | ||||||||||||||||||||
AppLovin Corp., Class A | 455 | 08/19/22 | USD | 50.00 | USD | 1,567 | (45,500 | ) | ||||||||||||||||||||
Block Inc., Class A | 49 | 08/19/22 | USD | 110.00 | USD | 301 | (1,103 | ) | ||||||||||||||||||||
Cadence Design Systems, Inc. | 222 | 08/19/22 | USD | 160.00 | USD | 3,331 | (125,430 | ) | ||||||||||||||||||||
CDW Corp. | 121 | 08/19/22 | USD | 160.00 | USD | 1,906 | (81,070 | ) | ||||||||||||||||||||
CS Disco, Inc. | 250 | 08/19/22 | USD | 22.50 | USD | 451 | (28,750 | ) | ||||||||||||||||||||
Elastic NV | 118 | 08/19/22 | USD | 80.00 | USD | 799 | (30,975 | ) | ||||||||||||||||||||
Gitlab, Inc., Class A | 295 | 08/19/22 | USD | 50.83 | USD | 1,568 | (233,616 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 231 | 08/19/22 | USD | 52.50 | USD | 1,006 | (17,440 | ) | ||||||||||||||||||||
Mastercard, Inc., Class A | 41 | 08/19/22 | USD | 345.00 | USD | 1,293 | (25,830 | ) | ||||||||||||||||||||
Microsoft Corp. | 105 | 08/19/22 | USD | 270.00 | USD | 2,697 | (75,337 | ) | ||||||||||||||||||||
MongoDB, Inc. | 60 | 08/19/22 | USD | 290.00 | USD | 1,557 | (103,800 | ) | ||||||||||||||||||||
Monolithic Power Systems, Inc. | 39 | 08/19/22 | USD | 450.00 | USD | 1,498 | (39,390 | ) | ||||||||||||||||||||
NVIDIA Corp. | 104 | 08/19/22 | USD | 215.00 | USD | 1,577 | (5,512 | ) | ||||||||||||||||||||
Okta, Inc. | 43 | 08/19/22 | USD | 120.00 | USD | 389 | (7,568 | ) | ||||||||||||||||||||
PayPal Holdings, Inc. | 127 | 08/19/22 | USD | 90.00 | USD | 887 | (17,145 | ) | ||||||||||||||||||||
Roku, Inc. | 55 | 08/19/22 | USD | 120.00 | USD | 452 | (12,622 | ) | ||||||||||||||||||||
salesforce.com, Inc. | 24 | 08/19/22 | USD | 180.00 | USD | 396 | (11,880 | ) | ||||||||||||||||||||
ServiceNow, Inc. | 25 | 08/19/22 | USD | 500.00 | USD | 1,189 | (66,625 | ) | ||||||||||||||||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 252 | 08/19/22 | USD | 95.00 | USD | 2,060 | (17,388 | ) | ||||||||||||||||||||
Tesla, Inc. | 21 | 08/19/22 | USD | 840.00 | USD | 1,414 | (42,000 | ) | ||||||||||||||||||||
Tesla, Inc. | 18 | 08/19/22 | USD | 790.00 | USD | 1,212 | (55,575 | ) | ||||||||||||||||||||
Unity Software, Inc. | 190 | 08/19/22 | USD | 55.00 | USD | 700 | (22,895 | ) | ||||||||||||||||||||
Wolfspeed, Inc. | 240 | 08/19/22 | USD | 90.00 | USD | 1,523 | (21,600 | ) | ||||||||||||||||||||
Zscaler, Inc. | 40 | 08/19/22 | USD | 190.00 | USD | 598 | (13,500 | ) | ||||||||||||||||||||
Wolfspeed, Inc. | 190 | 09/16/22 | USD | 80.00 | USD | 1,206 | (57,950 | ) | ||||||||||||||||||||
$ | (4,415,173 | ) | ||||||||||||||||||||||||||
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
Soitec SA | Goldman Sachs International | 5,500 | 07/06/22 | EUR | 173.51 | EUR | 745 | $ | (8 | ) | ||||||||||||||||||||
STMicroelectronics NV | Goldman Sachs International | 40,300 | 07/06/22 | EUR | 39.72 | EUR | 1,209 | — |
C O N S O L I D A T E D SC H E D U L E O F IN V E S T M E N T S | 105 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust (BST) |
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||||
Yahoo Japan Corp. | BNP Paribas SA | 509,000 | 07/08/22 | JPY | 499.86 | JPY | 201,768 | $ | — | |||||||||||||||||||||
Wolfspeed, Inc. | Bank of America N.A. | 13,200 | 07/11/22 | USD | 81.32 | USD | 838 | (543 | ) | |||||||||||||||||||||
Wolfspeed, Inc. | Citibank N.A. | 9,000 | 07/11/22 | USD | 101.52 | USD | 571 | — | ||||||||||||||||||||||
Soitec SA | Morgan Stanley & Co. International PLC | 5,300 | 07/12/22 | EUR | 181.71 | EUR | 718 | (27 | ) | |||||||||||||||||||||
Kakao Corp. | JPMorgan Chase Bank N.A. | 59,500 | 07/13/22 | USD | 85,917.68 | USD | 4,159,050 | (298 | ) | |||||||||||||||||||||
Renesas Electronics Corp. | UBS AG | 334,000 | 07/13/22 | JPY | 1,596.86 | JPY | 411,822 | (1,882 | ) | |||||||||||||||||||||
Samsung SDI Co. Ltd. | Goldman Sachs International | 10,600 | 07/13/22 | USD | 593,827.14 | USD | 5,639,200 | (9,235 | ) | |||||||||||||||||||||
Alphawave IP Group PLC | Goldman Sachs International | 67,000 | 07/19/22 | GBP | 1.91 | GBP | 90 | (205 | ) | |||||||||||||||||||||
Siteminder Ltd. | UBS AG | 60,000 | 07/19/22 | AUD | 4.93 | AUD | 211 | (83 | ) | |||||||||||||||||||||
Soitec SA | Morgan Stanley & Co. International PLC | 13,600 | 07/19/22 | EUR | 177.89 | EUR | 1,843 | (812 | ) | |||||||||||||||||||||
Wise PLC, Class A | Goldman Sachs International | 100,000 | 07/19/22 | GBP | 3.77 | GBP | 297 | (2,753 | ) | |||||||||||||||||||||
Xero Ltd. | Morgan Stanley & Co. International PLC | 8,500 | 07/19/22 | AUD | 92.84 | AUD | 654 | (2,712 | ) | |||||||||||||||||||||
GMO Payment Gateway, Inc. | UBS AG | 14,700 | 07/20/22 | JPY | 11,145.60 | JPY | 140,385 | (9,206 | ) | |||||||||||||||||||||
Kakao Corp. | UBS AG | 55,500 | 07/21/22 | USD | 84,721.47 | USD | 3,879,450 | (1,660 | ) | |||||||||||||||||||||
Thoughtworks Holding, Inc. | Barclays Bank PLC | 22,300 | 07/25/22 | USD | 18.99 | USD | 315 | (756 | ) | |||||||||||||||||||||
Alphawave IP Group PLC | Goldman Sachs International | 62,000 | 07/26/22 | GBP | 1.92 | GBP | 83 | (424 | ) | |||||||||||||||||||||
ASML Holding NV | Goldman Sachs International | 8,300 | 07/26/22 | EUR | 555.95 | EUR | 3,784 | (7,926 | ) | |||||||||||||||||||||
Monolithic Power Systems, Inc. | Barclays Bank PLC | 3,900 | 07/26/22 | USD | 433.62 | USD | 1,498 | (26,402 | ) | |||||||||||||||||||||
STMicroelectronics NV | UBS AG | 15,900 | 07/26/22 | EUR | 38.50 | EUR | 477 | (578 | ) | |||||||||||||||||||||
Yahoo Japan Corp. | JPMorgan Chase Bank N.A. | 396,800 | 07/26/22 | JPY | 457.10 | JPY | 157,292 | (1,834 | ) | |||||||||||||||||||||
Adyen NV | Goldman Sachs International | 2,100 | 07/27/22 | EUR | 1,544.77 | EUR | 2,915 | (54,355 | ) | |||||||||||||||||||||
GMO Payment Gateway, Inc. | JPMorgan Chase Bank N.A. | 8,200 | 07/27/22 | JPY | 11,372.61 | JPY | 78,310 | (5,953 | ) | |||||||||||||||||||||
Siteminder Ltd. | Morgan Stanley & Co. International PLC | 33,200 | 07/27/22 | AUD | 4.91 | AUD | 117 | (164 | ) | |||||||||||||||||||||
Soitec SA | UBS AG | 1,900 | 07/27/22 | EUR | 184.80 | EUR | 257 | (186 | ) | |||||||||||||||||||||
Xero Ltd. | BNP Paribas SA | 50,000 | 07/27/22 | AUD | 86.76 | AUD | 3,848 | (63,337 | ) | |||||||||||||||||||||
Alphawave IP Group PLC | UBS AG | 62,000 | 08/02/22 | GBP | 1.75 | GBP | 83 | (1,694 | ) | |||||||||||||||||||||
GMO Payment Gateway, Inc. | JPMorgan Chase Bank N.A. | 8,200 | 08/02/22 | JPY | 11,074.00 | JPY | 78,310 | (11,081 | ) | |||||||||||||||||||||
Renesas Electronics Corp. | JPMorgan Chase Bank N.A. | 87,800 | 08/02/22 | JPY | 1,543.36 | JPY | 108,257 | (652 | ) | |||||||||||||||||||||
STMicroelectronics NV | Goldman Sachs International | 25,500 | 08/03/22 | EUR | 34.17 | EUR | 765 | (10,000 | ) | |||||||||||||||||||||
Thoughtworks Holding, Inc. | Barclays Bank PLC | 22,300 | 08/04/22 | USD | 19.00 | USD | 315 | (1,773 | ) | |||||||||||||||||||||
ASML Holding NV | JPMorgan Chase Bank N.A. | 6,700 | 08/09/22 | EUR | 487.54 | EUR | 3,054 | (86,220 | ) | |||||||||||||||||||||
Soitec SA | Morgan Stanley & Co. International PLC | 4,500 | 08/09/22 | EUR | 162.00 | EUR | 610 | (6,102 | ) | |||||||||||||||||||||
Soitec SA | UBS AG | 3,300 | 08/09/22 | EUR | 151.69 | EUR | 447 | (10,944 | ) | |||||||||||||||||||||
ZoomInfo Technologies, Inc. | JPMorgan Chase Bank N.A. | 18,100 | 08/09/22 | USD | 44.37 | USD | 602 | (9,645 | ) | |||||||||||||||||||||
Thoughtworks Holding, Inc. | Bank of America N.A. | 69,000 | 08/11/22 | USD | 17.74 | USD | 974 | (15,553 | ) | |||||||||||||||||||||
Thoughtworks Holding, Inc. | JPMorgan Chase Bank N.A. | 44,200 | 09/01/22 | USD | 15.60 | USD | 624 | (42,044 | ) | |||||||||||||||||||||
$ | (387,047 | ) | ||||||||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 6,166,169 | $ | (655,916 | ) | $ | (4,802,220 | ) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 4,802,220 | $ | — | $ | — | $ | — | $ | 4,802,220 | ||||||||||||||
106 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust (BST) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options purchased (a) | $ | — | $ | — | $ | (381 | ) | $ | — | $ | — | $ | — | $ | (381 | ) | ||||||||||||
Options written | — | — | 43,628,929 | — | — | — | 43,628,929 | |||||||||||||||||||||
$ | — | $ | — | $ | 43,628,548 | $ | — | $ | — | $ | — | $ | 43,628,548 | |||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | (274,650 | ) | $ | — | $ | — | $ | — | $ | (274,650 | ) | ||||||||||||
(a) | Options purchased are included in net realized gain (loss) from investments — unaffiliated. |
Options: | ||||
Average value of option contracts written | $ | (8,200,814 | ) |
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 4,802,220 | ||||
Total derivative assets and liabilities in the Consolidated Statements of Assets and Liabilities | — | 4,802,220 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (4,415,173 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 387,047 | ||||
Counterparty | | Derivative Liabilities Subject to an MNA by Counterparty | | | Derivatives Available for Offset | | | Non-Cash Collateral Pledged | | | Cash Collateral Pledged | (a) | | Net Amount of Derivative Liabilities | (b) | |||||
Bank of America N.A. | $ | 16,096 | $ | — | $ | — | $ | — | $ | 16,096 | ||||||||||
Barclays Bank PLC | 28,931 | — | — | — | 28,931 | |||||||||||||||
BNP Paribas SA | 63,337 | — | — | — | 63,337 | |||||||||||||||
Goldman Sachs International | 84,906 | — | — | (40,000 | ) | 44,906 | ||||||||||||||
JPMorgan Chase Bank N.A. | 157,727 | — | — | (150,000 | ) | 7,727 | ||||||||||||||
Morgan Stanley & Co. International PLC | 9,817 | — | — | (9,817 | ) | — | ||||||||||||||
UBS AG | 26,233 | — | — | (26,233 | ) | — | ||||||||||||||
$ | 387,047 | $ | — | $ | — | $ | (226,050 | ) | $ | 160,997 | ||||||||||
(a) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(b) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Consolidated Statements of Assets and Liabilities. |
C O N S O L I D A T E D SC H E D U L E O F IN V E S T M E N T S | 107 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust (BST) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Automobiles | $ | 23,064,635 | $ | — | $ | — | $ | 23,064,635 | ||||||||
Banks | — | — | 19,274,271 | 19,274,271 | ||||||||||||
Capital Markets | 7,797,546 | — | — | 7,797,546 | ||||||||||||
Diversified Consumer Services | — | — | 3,827,869 | 3,827,869 | ||||||||||||
Electronic Equipment, Instruments & Components | 8,540,067 | 9,793,727 | — | 18,333,794 | ||||||||||||
Entertainment | 3,742,956 | — | — | 3,742,956 | ||||||||||||
Hotels, Restaurants & Leisure | 9,486,505 | — | — | 9,486,505 | ||||||||||||
Interactive Media & Services | 39,954,930 | 23,513,534 | — | 63,468,464 | ||||||||||||
Internet & Direct Marketing Retail | 23,418,079 | 5,073,206 | 213,970 | 28,705,255 | ||||||||||||
IT Services | 112,007,693 | 15,182,893 | 35,316,484 | 162,507,070 | ||||||||||||
Professional Services | — | 4,330,000 | — | 4,330,000 | ||||||||||||
Road & Rail | — | — | 5,570,602 | 5,570,602 | ||||||||||||
Semiconductors & Semiconductor Equipment | 108,183,622 | 51,781,074 | — | 159,964,696 | ||||||||||||
Software | 189,835,256 | 13,185,804 | 26,017,523 | 229,038,583 | ||||||||||||
Technology Hardware, Storage & Peripherals | 66,147,460 | — | — | 66,147,460 | ||||||||||||
Convertible Notes | — | — | 9,640,000 | 9,640,000 | ||||||||||||
Preferred Securities | ||||||||||||||||
Preferred Stocks | — | — | 219,429,147 | 219,429,147 | ||||||||||||
Warrants | — | — | 42,321 | 42,321 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 49,223,180 | — | — | 49,223,180 | ||||||||||||
$ | 641,401,929 | $ | 122,860,238 | $ | 319,332,187 | $ | 1,083,594,354 | |||||||||
Derivative Financial Instruments (a) | ||||||||||||||||
Equity Contracts | $ | — | $ | — | $ | — | $ | — | ||||||||
Liabilities | ||||||||||||||||
Equity Contracts | (3,540,304 | ) | (1,261,916 | ) | — | (4,802,220 | ) | |||||||||
$ | (3,540,304 | ) | $ | (1,261,916 | ) | $ | — | $ | (4,802,220 | ) | ||||||
(a) | Derivative financial instruments are options written. Options written are shown at value. |
Common Stocks | Convertible Notes | Preferred Stocks | Warrant | Total | ||||||||||||||||
Assets | ||||||||||||||||||||
Opening balance, as of December 31, 2021 | $ | 119,431,663 | $ | 8,000,000 | $ | 240,189,562 | $ | 117,749 | $ | 367,738,974 | ||||||||||
Transfers into Level 3 | — | — | — | — | — | |||||||||||||||
Transfers out of Level 3 | — | — | — | — | — | |||||||||||||||
Accrued discounts/premiums | — | — | — | — | — | |||||||||||||||
Net realized gain (loss) | ||||||||||||||||||||
Net change in unrealized appreciation (depreciation) (a)(b) | (39,210,941 | ) | 1,640,000 | (45,355,871 | ) | (75,428 | ) | (83,002,240 | ) | |||||||||||
Purchases | 11,998,433 | — | 29,999,955 | — | 41,998,388 | |||||||||||||||
Sales | (1,998,436 | ) | — | (5,404,499 | ) | — | (7,402,935 | ) | ||||||||||||
Closing balance, as of June 30, 2022 | $ | 90,220,719 | $ | 9,640,000 | $ | 219,429,147 | $ | 42,321 | $ | 319,332,187 | ||||||||||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 (b) | $ | (40,956,670 | ) | $ | 1,640,000 | $ | (42,384,673 | ) | $ | (75,428 | ) | $ | (81,776,771 | ) | ||||||
(a) | Included in the related net change in unrealized appreciation (depreciation) in the Consolidated Statements of Operations. |
(b) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 is generally due to investments no longer held or categorized as Level 3 at period end. |
108 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust (BST) |
Value | | Valuation Approach | | Unobservable Inputs | | Range of Unobservable Inputs Utilized | (a) | | Weighted Average of Unobservable Inputs Based on Fair Value | | ||||||||
Assets | ||||||||||||||||||
Common Stocks | $ | 90,220,719 | Market | Revenue Multiple | 3.25x - 29.00x | 13.49x | ||||||||||||
Volatility | 39% - 75% | 61% | ||||||||||||||||
Time to Exit | 0.5 - 4.0 years | 2.6 years | ||||||||||||||||
Convertible Notes | 9,640,000 | Income | Discount Rate | 21% | — | |||||||||||||
Market | Volatility | 80% | — | |||||||||||||||
Revenue Multiple | 7.00x | — | ||||||||||||||||
Preferred Stocks | 219,429,147 | Market | Revenue Multiple | 3.35x - 29.00x | 15.00x | |||||||||||||
Volatility | 50% - 75% | 62% | ||||||||||||||||
Time to Exit | 3.0 - 5.0 years | 4.2 years | ||||||||||||||||
Market Adjustment Multiple | 0.90x - 1.00x | 0.93x | ||||||||||||||||
Gross Profit Multiple | 11.89x | — | ||||||||||||||||
Warrants | 42,321 | Market | Volatility | 39% | — | |||||||||||||
Time to Exit | 0.5 year | — | ||||||||||||||||
Revenue Multiple | 7.50x | — | ||||||||||||||||
$ | 319,332,187 | |||||||||||||||||
(a) | A significant change in unobservable input would have resulted in a correlated (inverse) significant change to value. |
C O N S O L I D A T E D SC H E D U L E O F IN V E S T M E N T S | 109 |
Consolidated Schedule of Investments (unaudited) June 30, 2022 | BlackRock Science and Technology Trust II (BSTZ) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Automobiles (a) — 3.2% | ||||||||
Arrival SA (b) | 1,315,613 | $ | 2,078,668 | |||||
Tesla, Inc. (c) | 81,949 | 55,186,096 | ||||||
57,264,764 | ||||||||
Banks — 3.5% | ||||||||
Klarna Holdings AB, (Acquired 08/07/19, Cost: $23,354,997) (d)(e) | 86,839 | 63,327,976 | ||||||
Chemicals — 0.8% | ||||||||
CNGR Advanced Material Co. Ltd., Class A | 355,813 | 6,607,512 | ||||||
Shenzhen Dynanonic Co. Ltd., Class A | 117,919 | 7,207,331 | ||||||
13,814,843 | ||||||||
Diversified Consumer Services — 1.0% | ||||||||
Think & Learn Private Ltd., (Acquired 09/30/20, Cost: $7,113,729) (d)(e) | 4,651 | 17,856,989 | ||||||
Electrical Equipment — 0.4% | ||||||||
Yantai Zhenghai Magnetic Material Co. Ltd., Class A (a) | 3,296,300 | 7,551,689 | ||||||
Electronic Equipment, Instruments & Components — 3.4% | ||||||||
E Ink Holdings, Inc. | 1,648,000 | 10,522,915 | ||||||
Jabil, Inc. | 286,456 | 14,669,412 | ||||||
Samsung SDI Co. Ltd. | 69,838 | 28,800,131 | ||||||
Xiamen Faratronic Co. Ltd., Class A | 230,177 | 7,069,965 | ||||||
61,062,423 | ||||||||
Entertainment (a) — 1.8% | ||||||||
CTS Eventim AG & Co. KGaA | 135,310 | 7,137,500 | ||||||
Roku, Inc. | 91,612 | 7,525,010 | ||||||
Take-Two Interactive Software, Inc. | 150,638 | 18,457,674 | ||||||
33,120,184 | ||||||||
Hotels, Restaurants & Leisure — 0.9% | ||||||||
Trip.com Group Ltd., ADR (a) | 566,559 | 15,552,045 | ||||||
Interactive Media & Services — 3.9% | ||||||||
Eventbrite, Inc., Class A (a) | 590,053 | 6,059,845 | ||||||
Kakao Corp. | 586,837 | 31,797,820 | ||||||
Kanzhun Ltd., ADR (a) | 286,357 | 7,525,462 | ||||||
Snap, Inc., Class A (a) | 815,133 | 10,702,696 | ||||||
ZoomInfo Technologies, Inc., CLass A (a) | 403,742 | 13,420,384 | ||||||
69,506,207 | ||||||||
Internet & Direct Marketing Retail — 1.5% | ||||||||
Cazoo Group Ltd. (a) | 1,261,764 | 908,470 | ||||||
MercadoLibre, Inc. (a) | 17,594 | 11,205,091 | ||||||
Prosus NV | 218,962 | 14,178,574 | ||||||
26,292,135 | ||||||||
IT Services — 12.4% | ||||||||
Adyen NV (a)(f) | 14,422 | 20,812,850 | ||||||
Automattic, Inc., Series E, (Acquired 02/03/21, Cost: $34,000,000) (d)(e) | 400,000 | 21,584,000 | ||||||
AvidXchange Holdings, Inc. (a) | 440,210 | 2,702,889 | ||||||
Block, Inc. (a)(c) | 166,588 | 10,238,499 | ||||||
Cloudflare, Inc., Class A (a) | 182,701 | 7,993,169 | ||||||
Dlocal Ltd. (a) | 314,034 | 8,243,393 | ||||||
Endava PLC, ADR (a) | 348,375 | 30,751,061 | ||||||
GMO Payment Gateway, Inc. | 168,900 | 12,030,912 | ||||||
Grid Dynamics Holdings, Inc. (a) | 912,609 | 15,350,083 | ||||||
Kakaopay Corp. (a)(b) | 117,382 | 5,476,376 | ||||||
Locaweb Servicos de Internet SA (a)(f) | 7,824,775 | 8,402,724 | ||||||
MongoDB, Inc. (a) | 70,836 | 18,381,942 |
Security | Shares | Value | ||||||
IT Services (continued) | ||||||||
Okta, Inc. (a) | 134,592 | $ | 12,167,117 | |||||
Shift4 Payments, Inc., Class A (a) | 288,406 | 9,534,702 | ||||||
Thoughtworks Holding, Inc. (a) | 639,995 | 9,030,329 | ||||||
TRAX Ltd., (Acquired 09/12/19, Cost: $10,999,987) (d)(e) | 293,333 | 11,941,586 | ||||||
TRAX Ltd., Series D, (Acquired 02/18/21, Cost: $9,999,998) (d)(e) | 191,806 | 7,808,422 | ||||||
Twilio, Inc., Class A (a) | 137,627 | 11,534,519 | ||||||
223,984,573 | ||||||||
Media — 0.9% | ||||||||
Informa PLC (a) | 2,592,672 | 16,750,244 | ||||||
Professional Services — 2.4% | ||||||||
Legalzoom.com, Inc. (a) | 543,138 | 5,969,087 | ||||||
TransUnion | 290,023 | 23,198,940 | ||||||
Wolters Kluwer NV | 135,382 | 13,120,944 | ||||||
42,288,971 | ||||||||
Semiconductors & Semiconductor Equipment — 16.5% | ||||||||
Alphawave IP Group PLC (a)(b) | 3,558,396 | 5,821,719 | ||||||
Ambarella, Inc. (a) | 79,596 | 5,210,354 | ||||||
ASM International NV | 48,772 | 12,134,823 | ||||||
BE Semiconductor Industries NV | 197,861 | 9,454,624 | ||||||
CNEX Labs, Inc., (Acquired 12/14/21, Cost: $5,699,998) (d)(e) | 1,161,804 | 2,672,149 | ||||||
Credo Technology Group Holding Ltd., (Acquired 01/27/22, Cost: $21,617,979) (e) | 4,284,241 | 49,678,534 | ||||||
Lasertec Corp. | 199,700 | 23,784,995 | ||||||
Lattice Semiconductor Corp. (a) | 332,782 | 16,139,927 | ||||||
MACOM Technology Solutions Holdings, Inc., Class H (a) | 198,725 | 9,161,223 | ||||||
Marvell Technology, Inc. (c) | 1,174,171 | 51,111,664 | ||||||
Monolithic Power Systems, Inc. | 73,209 | 28,115,184 | ||||||
Nordic Semiconductor ASA (a) | 276,836 | 4,370,681 | ||||||
Silergy Corp. | 217,000 | 17,546,471 | ||||||
Soitec SA (a) | 175,858 | 25,260,241 | ||||||
StarPower Semiconductor Ltd. | 117,200 | 6,775,077 | ||||||
Wolfspeed, Inc. (a)(c) | 484,481 | 30,740,319 | ||||||
297,977,985 | ||||||||
Software — 17.0% | ||||||||
Altair Engineering, Inc., Class A (a) | 13,531 | 710,378 | ||||||
Altium Ltd. | 793,379 | 14,787,757 | ||||||
AppLovin Corp., Class A (a) | 348,719 | 12,009,882 | ||||||
Aspen Technology, Inc. (a) | 59,873 | 10,997,473 | ||||||
Atlassian Corp. PLC, Class A (a) | 80,415 | 15,069,771 | ||||||
Avalara, Inc. (a) | 122,135 | 8,622,731 | ||||||
AvidXchange, Inc., (Acquired 07/29/20, Cost: $7,474,330) (e) | 610,000 | 3,745,400 | ||||||
Confluent, Inc., Class A (a) | 194,486 | 4,519,855 | ||||||
Crowdstrike Holdings, Inc., Class A (a) | 103,985 | 17,527,712 | ||||||
Databricks, Inc., (Acquired 07/24/20, Cost: $5,501,686) (d)(e) | 114,553 | 21,013,602 | ||||||
DataRobot, Inc., (Acquired 03/01/21, Cost: $1,384,813) (d)(e) | 92,093 | 1,031,442 | ||||||
Elastic NV (a) | 163,870 | 11,089,083 | ||||||
Freee KK (a) | 361,800 | 8,883,408 | ||||||
Gitlab, Inc., Class A (a) | 530,473 | 28,189,335 | ||||||
Glodon Co. Ltd., Class A | 244,400 | 1,990,433 | ||||||
Lightspeed Commerce, Inc. (a) | 475,880 | 10,610,438 | ||||||
Palo Alto Networks, Inc. (a) | 31,415 | 15,517,125 | ||||||
Samsara, Inc., Class A (a)(b) | 461,448 | 5,154,374 |
110 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust II (BSTZ) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Software (continued) | ||||||||
SiteMinder Ltd. (a) | 7,182,558 | $ | 17,499,612 | |||||
Snorkel AI, Inc., (Acquired 10/13/20, Cost: $2,017,593) (d)(e) | 500,250 | 4,782,390 | ||||||
Snyk Ltd., (Acquired 11/02/20, Cost: $9,287,400) (d)(e) | 1,267,643 | 13,018,694 | ||||||
Synopsys, Inc. (a) | 120,424 | 36,572,769 | ||||||
Unity Software, Inc. (a) | 237,004 | 8,726,487 | ||||||
Xero Ltd. (a) | 262,237 | 13,987,885 | ||||||
Zscaler, Inc. (a)(c) | 124,012 | 18,541,034 | ||||||
ZWSOFT Co. Ltd. Guangzhou, Class A | 63,942 | 2,000,842 | ||||||
306,599,912 | ||||||||
Technology Hardware, Storage & Peripherals — 1.3% | ||||||||
Pure Storage, Inc., Class A (a) | 931,063 | 23,937,630 | ||||||
Total Common Stocks — 70.9% (Cost: $1,067,928,679) | 1,276,888,570 | |||||||
Preferred Securities | ||||||||
Preferred Stocks — 25.5% (d)(e) | ||||||||
Communications Equipment — 0.7% | ||||||||
Astranis Space Technologies Corp., Series C, (Acquired 03/19/21, Cost: $17,000,010) | 775,515 | 12,183,341 | ||||||
Diversified Consumer Services — 1.0% | ||||||||
Think & Learn Private Ltd., Series F, (Acquired 09/30/20, Cost: $14,251,080) | 4,920 | 18,889,785 | ||||||
Diversified Financial Services — 0.1% | ||||||||
Snorkel Al, Inc., Series B, (Acquired 10/13/20, Cost: $999,996) | 247,943 | 2,370,335 | ||||||
Food & Staples Retailing — 2.2% | ||||||||
GrubMarket, Inc. , Series D, (Acquired 07/23/20, Cost: $8,000,001) | 1,762,969 | 38,926,356 | ||||||
Food Products — 0.9% | ||||||||
Farmer’s Business Network, Inc., Series F, (Acquired 07/31/20, Cost: $11,961,002) | 361,834 | 16,593,707 | ||||||
Interactive Media & Services — 3.2% | ||||||||
ByteDance Ltd., Series E-1, (Acquired 11/11/20, Cost: $35,000,075) | 319,419 | 52,868,947 | ||||||
ResearchGate GmbH, Series D, (Acquired 09/24/20, Cost: $6,999,988) | 424,688 | 5,856,447 | ||||||
58,725,394 | ||||||||
IT Services — 2.2% | ||||||||
Deep Instinct Ltd., Series D-2, (Acquired 03/19/21, Cost: $12,000,008) | 1,974,374 | 9,674,433 | ||||||
Trumid Holdings LLC (g) | ||||||||
Class J-A, (Acquired 07/24/20, Cost: $9,999,857) | 20,154 | 15,021,582 | ||||||
Class J-B, (Acquired 07/24/20, Cost: $5,999,914) | 20,154 | 15,021,582 | ||||||
39,717,597 | ||||||||
Road & Rail — 0.7% | ||||||||
FlixMobility GmbH, Series F, (Acquired 07/26/19, Cost: $16,947,253) | 850 | 11,885,377 | ||||||
Semiconductors & Semiconductor Equipment — 6.6% | ||||||||
Mythic AI, Inc., Series C, (Acquired 01/26/21, Cost: $7,000,000) | 1,018,908 | 5,257,565 | ||||||
PsiQuantum Corp. Series C, (Acquired 09/09/19, Cost: $9,101,310) | 1,962,335 | 40,384,854 |
Security | Shares | Value | ||||||
Semiconductors & Semiconductor Equipment (continued) | ||||||||
PsiQuantum Corp. (continued) | ||||||||
Series C, (Acquired 05/21/21, Cost: $19,999,969) | 762,595 | $ | 19,491,928 | |||||
SambaNova Systems, Inc. | ||||||||
Series C, (Acquired 02/20/20, Cost: $33,904,161) | 636,800 | 48,384,064 | ||||||
Series D, (Acquired 04/09/21, Cost: $6,999,979) | 73,670 | 5,597,447 | ||||||
119,115,858 | ||||||||
Software — 7.9% | ||||||||
Databricks, Inc. | ||||||||
Series F, (Acquired 10/22/19, Cost: $13,200,019) | 307,346 | 56,379,550 | ||||||
Series G, (Acquired 02/01/21, Cost: $18,500,004) | 104,303 | 19,133,342 | ||||||
DataRobot, Inc., Series F, (Acquired 10/27/20, Cost: $11,499,999) | 875,059 | 9,835,663 | ||||||
Rapyd Financial Network Ltd., Series E, (Acquired 03/31/21, Cost: $13,999,978) | 190,705 | 13,376,049 | ||||||
Snyk Ltd. , (Acquired 11/02/20, Cost: $13,212,590) | 2,663,936 | 27,358,623 | ||||||
Unqork, Inc. | ||||||||
Series B, (Acquired 09/19/19, Cost: $6,801,016) | 597,680 | 10,501,238 | ||||||
Series C, (Acquired 09/18/20, Cost: $7,994,787) | 292,000 | 5,130,440 | ||||||
141,714,905 | ||||||||
460,122,655 | ||||||||
Total Preferred Securities — 25.5% (Cost: $301,372,996) | 460,122,655 | |||||||
Warrants | ||||||||
IT Services — 0.0% | ||||||||
TRAX Ltd., (Expires 09/15/2023), (Acquired 09/12/19, Cost: $0) (d)(e) | 46,928 | 116,381 | ||||||
Total Warrants — 0.0% (Cost: $ — ) | 116,381 | |||||||
Total Long-Term Investments — 96.4% (Cost: $1,369,301,675) | 1,737,127,606 | |||||||
Short-Term Securities | ||||||||
Money Market Funds — 5.9% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33%(h)(i) | 102,224,041 | 102,224,041 | ||||||
SL Liquidity Series, LLC, Money Market Series, 1.73% (h)(i)(j) | 4,923,583 | 4,922,598 | ||||||
Total Short-Term Securities — 5.9% (Cost: $107,145,982) | 107,146,639 | |||||||
Total Investments Before Options Written — 102.3% (Cost: $1,476,447,657) | 1,844,274,245 | |||||||
Options Written — (0.7)% (Premiums Received: $(19,442,641)) | (13,353,619 | ) | ||||||
Total Investments, Net of Options Written — 101.6% (Cost: $1,457,005,016) | 1,830,920,626 | |||||||
Liabilities in Excess of Other Assets — (1.6)% | (28,025,355 | ) | ||||||
Net Assets — 100.0% | $ | 1,802,895,271 | ||||||
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan. |
(c) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(d) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
C O N S O L I D A T E D SC H E D U L E O F IN V E S T M E N T S | 111 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust II (BSTZ) |
(e) | Restricted security as to resale, excluding 144A securities. The Trust held restricted securities with a current value of $678,700,220, representing 37.7% of its net assets as of period end, and an original cost of $439,825,506. |
(f) | 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. |
(g) | All or a portion of the security is held by a wholly-owned subsidiary. See Note 1 of the Notes to Consolidated Financial Statements for details on the wholly-owned subsidiary. |
(h) | Affiliate of the Trust. |
(i) | Annualized 7-day yield as of period end. |
(j) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 46,915,934 | $ | 55,308,107 | (a) | $ | — | $ | — | $ | — | $ | 102,224,041 | 102,224,041 | $ | 114,104 | $ | — | ||||||||||||||||||
SL Liquidity Series, LLC, Money Market Series | 1,949,219 | 2,971,804 | (a) | — | 918 | 657 | 4,922,598 | 4,923,583 | 161,102 | (b) | — | |||||||||||||||||||||||||
$ | 918 | $ | 657 | $ | 107,146,639 | $ | 275,206 | $ | — | |||||||||||||||||||||||||||
(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. |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||
Ambarella, Inc. | 139 | 07/01/22 | USD | 87.00 | USD | 910 | $ | (10,425 | ) | |||||||||||||||||||
Atlassian Corp. PLC, Class A | 52 | 07/01/22 | USD | 200.00 | USD | 974 | (1,040 | ) | ||||||||||||||||||||
Crowdstrike Holdings, Inc., Class A | 131 | 07/01/22 | USD | 175.00 | USD | 2,208 | (8,188 | ) | ||||||||||||||||||||
Unity Software, Inc. | 332 | 07/01/22 | USD | 44.00 | USD | 1,222 | (996 | ) | ||||||||||||||||||||
Atlassian Corp. PLC, Class A | 116 | 07/08/22 | USD | 210.00 | USD | 2,174 | (9,860 | ) | ||||||||||||||||||||
Crowdstrike Holdings, Inc., Class A | 187 | 07/08/22 | USD | 195.00 | USD | 3,152 | (6,358 | ) | ||||||||||||||||||||
MercadoLibre, Inc. | 32 | 07/08/22 | USD | 890.00 | USD | 2,038 | (7,360 | ) | ||||||||||||||||||||
MongoDB, Inc. | 19 | 07/08/22 | USD | 290.00 | USD | 493 | (4,133 | ) | ||||||||||||||||||||
MongoDB, Inc. | 39 | 07/08/22 | USD | 315.00 | USD | 1,012 | (2,048 | ) | ||||||||||||||||||||
Tesla, Inc. | 100 | 07/08/22 | USD | 810.00 | USD | 6,734 | (11,150 | ) | ||||||||||||||||||||
Twilio, Inc., Class A | 241 | 07/08/22 | USD | 125.00 | USD | 2,020 | (13,375 | ) | ||||||||||||||||||||
Ambarella, Inc. | 32 | 07/15/22 | USD | 85.00 | USD | 209 | (1,040 | ) | ||||||||||||||||||||
AppLovin Corp., Class A | 1,105 | 07/15/22 | USD | 45.00 | USD | 3,806 | (22,100 | ) | ||||||||||||||||||||
Aspen Technology, Inc. | 200 | 07/15/22 | USD | 190.00 | USD | 3,674 | (66,500 | ) | ||||||||||||||||||||
Atlassian Corp. PLC, Class A | 47 | 07/15/22 | USD | 210.00 | USD | 881 | (13,042 | ) | ||||||||||||||||||||
Atlassian Corp. PLC, Class A | 117 | 07/15/22 | USD | 200.00 | USD | 2,193 | (59,085 | ) | ||||||||||||||||||||
Avalara, Inc. | 73 | 07/15/22 | USD | 90.00 | USD | 515 | (10,585 | ) | ||||||||||||||||||||
AvidXchange Holdings, Inc. | 246 | 07/15/22 | USD | 10.00 | USD | 151 | (22,140 | ) | ||||||||||||||||||||
Cloudflare, Inc., Class A | 272 | 07/15/22 | USD | 70.00 | USD | 1,190 | (1,904 | ) | ||||||||||||||||||||
Confluent, Inc., Class A | 307 | 07/15/22 | USD | 30.00 | USD | 713 | (5,373 | ) | ||||||||||||||||||||
Confluent, Inc., Class A | 333 | 07/15/22 | USD | 25.00 | USD | 774 | (31,635 | ) | ||||||||||||||||||||
Crowdstrike Holdings, Inc., Class A | 117 | 07/15/22 | USD | 190.00 | USD | 1,972 | (24,687 | ) | ||||||||||||||||||||
Dlocal Ltd. | 512 | 07/15/22 | USD | 23.82 | USD | 1,344 | (163,215 | ) | ||||||||||||||||||||
Elastic NV | 302 | 07/15/22 | USD | 67.46 | USD | 2,044 | (120,348 | ) | ||||||||||||||||||||
Elastic NV | 45 | 07/15/22 | USD | 80.00 | USD | 305 | (2,363 | ) | ||||||||||||||||||||
Endava PLC, ADR | 483 | 07/15/22 | USD | 105.00 | USD | 4,263 | (123,165 | ) | ||||||||||||||||||||
Eventbrite, Inc., Class A | 1,112 | 07/15/22 | USD | 12.50 | USD | 1,142 | (11,120 | ) |
112 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust II (BSTZ) |
Exchange-Traded Options Written (continued) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||
Gitlab, Inc., Class A | 198 | 07/15/22 | USD | 70.00 | USD | 1,052 | $ | (3,960 | ) | |||||||||||||||||||
Gitlab, Inc., Class A | 699 | 07/15/22 | USD | 50.00 | USD | 3,714 | (370,470 | ) | ||||||||||||||||||||
Grid Dynamics Holdings, Inc. | 1,711 | 07/15/22 | USD | 20.00 | USD | 2,878 | (34,220 | ) | ||||||||||||||||||||
Jabil, Inc. | 381 | 07/15/22 | USD | 65.00 | USD | 1,951 | (9,525 | ) | ||||||||||||||||||||
Lattice Semiconductor Corp. | 808 | 07/15/22 | USD | 55.52 | USD | 3,919 | (27,867 | ) | ||||||||||||||||||||
Lattice Semiconductor Corp. | 616 | 07/15/22 | USD | 50.00 | USD | 2,988 | (100,100 | ) | ||||||||||||||||||||
Legalzoom.com, Inc. | 971 | 07/15/22 | USD | 12.61 | USD | 1,067 | (15,265 | ) | ||||||||||||||||||||
Lightspeed Commerce, Inc. | 958 | 07/15/22 | CAD | 34.00 | CAD | 2,749 | (33,863 | ) | ||||||||||||||||||||
MACOM Technology Solutions Holdings, Inc., Class H | 433 | 07/15/22 | USD | 56.00 | USD | 1,996 | (2,785 | ) | ||||||||||||||||||||
MercadoLibre, Inc. | 16 | 07/15/22 | USD | 900.00 | USD | 1,019 | (800 | ) | ||||||||||||||||||||
MongoDB, Inc. | 38 | 07/15/22 | USD | 300.00 | USD | 986 | (13,300 | ) | ||||||||||||||||||||
MongoDB, Inc. | 39 | 07/15/22 | USD | 320.00 | USD | 1,012 | (5,850 | ) | ||||||||||||||||||||
Monolithic Power Systems, Inc. | 140 | 07/15/22 | USD | 460.00 | USD | 5,377 | (37,450 | ) | ||||||||||||||||||||
Okta, Inc. | 200 | 07/15/22 | USD | 130.00 | USD | 1,808 | (1,900 | ) | ||||||||||||||||||||
Palo Alto Networks, Inc. | 33 | 07/15/22 | USD | 520.00 | USD | 1,630 | (22,440 | ) | ||||||||||||||||||||
Pure Storage, Inc., Class A | 1,281 | 07/15/22 | USD | 28.93 | USD | 3,293 | (16,370 | ) | ||||||||||||||||||||
Pure Storage, Inc., Class A | 264 | 07/15/22 | USD | 30.00 | USD | 679 | (2,640 | ) | ||||||||||||||||||||
Roku, Inc. | 65 | 07/15/22 | USD | 110.00 | USD | 534 | (2,600 | ) | ||||||||||||||||||||
Samsara, Inc., Class A | 455 | 07/15/22 | USD | 17.50 | USD | 508 | (6,825 | ) | ||||||||||||||||||||
Samsara, Inc., Class A | 980 | 07/15/22 | USD | 15.00 | USD | 1,095 | (7,350 | ) | ||||||||||||||||||||
Shift4 Payments, Inc., Class A | 772 | 07/15/22 | USD | 55.00 | USD | 2,552 | (23,160 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 437 | 07/15/22 | USD | 17.00 | USD | 574 | (3,278 | ) | ||||||||||||||||||||
Synopsys, Inc. | 130 | 07/15/22 | USD | 320.00 | USD | 3,948 | (46,800 | ) | ||||||||||||||||||||
Take-Two Interactive Software, Inc. | 86 | 07/15/22 | USD | 135.00 | USD | 1,054 | (5,805 | ) | ||||||||||||||||||||
Take-Two Interactive Software, Inc. | 181 | 07/15/22 | USD | 130.00 | USD | 2,218 | (26,245 | ) | ||||||||||||||||||||
Tesla, Inc. | 43 | 07/15/22 | USD | 905.00 | USD | 2,896 | (2,967 | ) | ||||||||||||||||||||
Thoughtworks Holding, Inc. | 427 | 07/15/22 | USD | 17.50 | USD | 602 | (42,700 | ) | ||||||||||||||||||||
TransUnion | 432 | 07/15/22 | USD | 80.00 | USD | 3,456 | (92,880 | ) | ||||||||||||||||||||
TransUnion | 341 | 07/15/22 | USD | 93.73 | USD | 2,728 | (611 | ) | ||||||||||||||||||||
Trip.com Group Ltd., ADR | 130 | 07/15/22 | USD | 26.00 | USD | 357 | (29,250 | ) | ||||||||||||||||||||
Trip.com Group Ltd., ADR | 1,068 | 07/15/22 | USD | 25.00 | USD | 2,932 | (320,400 | ) | ||||||||||||||||||||
Twilio, Inc., Class A | 145 | 07/15/22 | USD | 105.00 | USD | 1,215 | (8,555 | ) | ||||||||||||||||||||
Unity Software, Inc. | 300 | 07/15/22 | USD | 45.00 | USD | 1,105 | (15,750 | ) | ||||||||||||||||||||
Wolfspeed, Inc. | 503 | 07/15/22 | USD | 85.00 | USD | 3,192 | (37,725 | ) | ||||||||||||||||||||
ZoomInfo Technologies, Inc. | 1,024 | 07/15/22 | USD | 50.00 | USD | 3,404 | (35,840 | ) | ||||||||||||||||||||
ZoomInfo Technologies, Inc. | 378 | 07/15/22 | USD | 40.00 | USD | 1,256 | (11,340 | ) | ||||||||||||||||||||
Zscaler, Inc. | 69 | 07/15/22 | USD | 220.00 | USD | 1,032 | (1,587 | ) | ||||||||||||||||||||
Zscaler, Inc. | 259 | 07/15/22 | USD | 165.00 | USD | 3,872 | (76,534 | ) | ||||||||||||||||||||
Ambarella, Inc. | 8 | 07/22/22 | USD | 95.00 | USD | 52 | (400 | ) | ||||||||||||||||||||
Atlassian Corp. PLC, Class A | 84 | 07/22/22 | USD | 200.00 | USD | 1,574 | (60,060 | ) | ||||||||||||||||||||
Block Inc., Class A | 130 | 07/22/22 | USD | 79.00 | USD | 799 | (8,125 | ) | ||||||||||||||||||||
Crowdstrike Holdings, Inc., Class A | 50 | 07/22/22 | USD | 180.00 | USD | 843 | (31,000 | ) | ||||||||||||||||||||
Crowdstrike Holdings, Inc., Class A | 51 | 07/22/22 | USD | 195.00 | USD | 860 | (13,209 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 795 | 07/22/22 | USD | 65.00 | USD | 3,461 | (59,625 | ) | ||||||||||||||||||||
MongoDB, Inc. | 40 | 07/22/22 | USD | 320.00 | USD | 1,038 | (12,300 | ) | ||||||||||||||||||||
Okta, Inc. | 48 | 07/22/22 | USD | 115.00 | USD | 434 | (3,528 | ) | ||||||||||||||||||||
Palo Alto Networks, Inc. | 85 | 07/22/22 | USD | 525.00 | USD | 4,198 | (74,800 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 396 | 07/22/22 | USD | 16.00 | USD | 520 | (23,166 | ) | ||||||||||||||||||||
Take-Two Interactive Software, Inc. | 275 | 07/22/22 | USD | 135.00 | USD | 3,370 | (31,625 | ) | ||||||||||||||||||||
Tesla, Inc. | 43 | 07/22/22 | USD | 850.00 | USD | 2,896 | (19,995 | ) | ||||||||||||||||||||
Twilio, Inc., Class A | 82 | 07/22/22 | USD | 100.00 | USD | 687 | (13,735 | ) | ||||||||||||||||||||
Twilio, Inc., Class A | 82 | 07/22/22 | USD | 105.00 | USD | 687 | (8,610 | ) | ||||||||||||||||||||
Zscaler, Inc. | 66 | 07/22/22 | USD | 155.00 | USD | 987 | (52,635 | ) | ||||||||||||||||||||
Ambarella, Inc. | 139 | 07/29/22 | USD | 78.00 | USD | 910 | (15,985 | ) | ||||||||||||||||||||
Cloudflare, Inc., Class A | 320 | 07/29/22 | USD | 55.00 | USD | 1,400 | (34,720 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 339 | 07/29/22 | USD | 54.00 | USD | 1,476 | (9,662 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 480 | 07/29/22 | USD | 56.00 | USD | 2,089 | (6,480 | ) | ||||||||||||||||||||
MercadoLibre, Inc. | 22 | 07/29/22 | USD | 820.00 | USD | 1,401 | (15,180 | ) | ||||||||||||||||||||
MongoDB, Inc. | 39 | 07/29/22 | USD | 315.00 | USD | 1,012 | (22,425 | ) | ||||||||||||||||||||
Okta, Inc. | 200 | 07/29/22 | USD | 100.00 | USD | 1,808 | (76,500 | ) | ||||||||||||||||||||
Roku, Inc. | 90 | 07/29/22 | USD | 97.00 | USD | 739 | (34,200 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 436 | 07/29/22 | USD | 16.00 | USD | 572 | (29,212 | ) |
C O N S O L I D A T E D SC H E D U L E O F IN V E S T M E N T S | 113 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust II (BSTZ) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||
Take-Two Interactive Software, Inc. | 275 | 07/29/22 | USD | 135.00 | USD | 3,370 | $ | (43,312 | ) | |||||||||||||||||||
Tesla, Inc. | 20 | 07/29/22 | USD | 775.00 | USD | 1,347 | (41,350 | ) | ||||||||||||||||||||
Unity Software, Inc. | 223 | 07/29/22 | USD | 43.00 | USD | 821 | (37,129 | ) | ||||||||||||||||||||
Zscaler, Inc. | 65 | 07/29/22 | USD | 190.00 | USD | 972 | (9,978 | ) | ||||||||||||||||||||
Zscaler, Inc. | 41 | 07/29/22 | USD | 170.00 | USD | 613 | (19,065 | ) | ||||||||||||||||||||
Block Inc., Class A | 306 | 08/05/22 | USD | 85.00 | USD | 1,881 | (29,835 | ) | ||||||||||||||||||||
Gitlab, Inc., Class A | 1,394 | 08/05/22 | USD | 48.00 | USD | 7,408 | (1,156,674 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 1,005 | 08/05/22 | USD | 53.00 | USD | 4,375 | (47,235 | ) | ||||||||||||||||||||
Okta, Inc. | 175 | 08/05/22 | USD | 105.00 | USD | 1,582 | (56,700 | ) | ||||||||||||||||||||
Roku, Inc. | 133 | 08/05/22 | USD | 115.00 | USD | 1,092 | (26,467 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 218 | 08/05/22 | USD | 18.00 | USD | 286 | (8,829 | ) | ||||||||||||||||||||
Take-Two Interactive Software, Inc. | 414 | 08/05/22 | USD | 135.00 | USD | 5,073 | (114,885 | ) | ||||||||||||||||||||
Tesla, Inc. | 40 | 08/05/22 | USD | 790.00 | USD | 2,694 | (86,400 | ) | ||||||||||||||||||||
Block Inc., Class A | 173 | 08/12/22 | USD | 81.33 | USD | 1,063 | (29,164 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 1,975 | 08/12/22 | USD | 51.77 | USD | 8,597 | (178,935 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 1,525 | 08/12/22 | USD | 17.17 | USD | 2,002 | (86,554 | ) | ||||||||||||||||||||
Snap, Inc., Class A | 1,063 | 08/12/22 | USD | 16.54 | USD | 1,396 | (76,633 | ) | ||||||||||||||||||||
AppLovin Corp., Class A | 719 | 08/19/22 | USD | 50.00 | USD | 2,476 | (71,900 | ) | ||||||||||||||||||||
Avalara, Inc. | 427 | 08/19/22 | USD | 80.00 | USD | 3,015 | (143,045 | ) | ||||||||||||||||||||
Avalara, Inc. | 18 | 08/19/22 | USD | 85.00 | USD | 127 | (3,735 | ) | ||||||||||||||||||||
Block Inc., Class A | 91 | 08/19/22 | USD | 110.00 | USD | 559 | (2,048 | ) | ||||||||||||||||||||
Cloudflare, Inc., Class A | 320 | 08/19/22 | USD | 60.00 | USD | 1,400 | (50,720 | ) | ||||||||||||||||||||
Confluent, Inc., Class A | 332 | 08/19/22 | USD | 22.42 | USD | 772 | (131,543 | ) | ||||||||||||||||||||
Dlocal Ltd. | 744 | 08/19/22 | USD | 30.00 | USD | 1,953 | (133,920 | ) | ||||||||||||||||||||
Elastic NV | 372 | 08/19/22 | USD | 80.00 | USD | 2,517 | (97,650 | ) | ||||||||||||||||||||
Endava PLC, ADR | 455 | 08/19/22 | USD | 95.00 | USD | 4,016 | (220,675 | ) | ||||||||||||||||||||
Gitlab, Inc., Class A | 230 | 08/19/22 | USD | 51.00 | USD | 1,222 | (180,222 | ) | ||||||||||||||||||||
Gitlab, Inc., Class A | 611 | 08/19/22 | USD | 50.83 | USD | 3,247 | (483,862 | ) | ||||||||||||||||||||
Grid Dynamics Holdings, Inc. | 969 | 08/19/22 | USD | 17.50 | USD | 1,630 | (179,265 | ) | ||||||||||||||||||||
Jabil, Inc. | 764 | 08/19/22 | USD | 60.00 | USD | 3,912 | (26,740 | ) | ||||||||||||||||||||
Kanzhun Ltd. | 572 | 08/19/22 | USD | 30.00 | USD | 1,503 | (111,540 | ) | ||||||||||||||||||||
Kanzhun Ltd. | 572 | 08/19/22 | USD | 35.00 | USD | 1,503 | (51,480 | ) | ||||||||||||||||||||
Legalzoom.com, Inc. | 1,008 | 08/19/22 | USD | 15.00 | USD | 1,108 | (25,200 | ) | ||||||||||||||||||||
Lightspeed Commerce, Inc. | 1,213 | 08/19/22 | CAD | 35.00 | CAD | 3,481 | (160,672 | ) | ||||||||||||||||||||
MACOM Technology Solutions Holdings, Inc., Class H | 425 | 08/19/22 | USD | 55.00 | USD | 1,959 | (40,375 | ) | ||||||||||||||||||||
Marvell Technology, Inc. | 169 | 08/19/22 | USD | 52.50 | USD | 736 | (12,759 | ) | ||||||||||||||||||||
MongoDB, Inc. | 140 | 08/19/22 | USD | 290.00 | USD | 3,633 | (242,200 | ) | ||||||||||||||||||||
Monolithic Power Systems, Inc. | 79 | 08/19/22 | USD | 450.00 | USD | 3,034 | (79,790 | ) | ||||||||||||||||||||
Okta, Inc. | 49 | 08/19/22 | USD | 120.00 | USD | 443 | (8,624 | ) | ||||||||||||||||||||
Pure Storage, Inc., Class A | 2,179 | 08/19/22 | USD | 28.00 | USD | 5,602 | (201,557 | ) | ||||||||||||||||||||
Roku, Inc. | 78 | 08/19/22 | USD | 120.00 | USD | 641 | (17,901 | ) | ||||||||||||||||||||
Samsara, Inc., Class A | 870 | 08/19/22 | USD | 12.50 | USD | 972 | (78,300 | ) | ||||||||||||||||||||
Shift4 Payments, Inc., Class A | 670 | 08/19/22 | USD | 40.00 | USD | 2,215 | (128,975 | ) | ||||||||||||||||||||
Synopsys, Inc. | 175 | 08/19/22 | USD | 310.00 | USD | 5,315 | (273,875 | ) | ||||||||||||||||||||
Take-Two Interactive Software, Inc. | 275 | 08/19/22 | USD | 135.00 | USD | 3,370 | (103,125 | ) | ||||||||||||||||||||
Tesla, Inc. | 44 | 08/19/22 | USD | 840.00 | USD | 2,963 | (88,000 | ) | ||||||||||||||||||||
Tesla, Inc. | 37 | 08/19/22 | USD | 790.00 | USD | 2,492 | (114,237 | ) | ||||||||||||||||||||
TransUnion | 415 | 08/19/22 | USD | 81.93 | USD | 3,320 | (139,624 | ) | ||||||||||||||||||||
Trip.com Group Ltd., ADR | 1,068 | 08/19/22 | USD | 25.08 | USD | 2,932 | (427,430 | ) | ||||||||||||||||||||
Unity Software, Inc. | 330 | 08/19/22 | USD | 55.00 | USD | 1,215 | (39,765 | ) | ||||||||||||||||||||
Wolfspeed, Inc. | 660 | 08/19/22 | USD | 90.00 | USD | 4,188 | (59,400 | ) | ||||||||||||||||||||
Zscaler, Inc. | 120 | 08/19/22 | USD | 190.00 | USD | 1,794 | (40,500 | ) | ||||||||||||||||||||
Endava PLC, ADR | 455 | 09/07/22 | USD | 96.00 | USD | 4,016 | (270,520 | ) | ||||||||||||||||||||
Grid Dynamics Holdings, Inc. | 969 | 09/16/22 | USD | 20.00 | USD | 1,630 | (133,237 | ) | ||||||||||||||||||||
Legalzoom.com, Inc. | 736 | 09/16/22 | USD | 15.00 | USD | 809 | (27,600 | ) | ||||||||||||||||||||
Synopsys, Inc. | 175 | 09/16/22 | USD | 320.00 | USD | 5,315 | (286,125 | ) | ||||||||||||||||||||
Wolfspeed, Inc. | 390 | 09/16/22 | USD | 80.00 | USD | 2,475 | (118,950 | ) | ||||||||||||||||||||
$ | (9,963,650 | ) | ||||||||||||||||||||||||||
114 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust II (BSTZ) |
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||
BE Semiconductor Industries NV | Goldman Sachs International | 61,000 | 07/06/22 | EUR | 56.37 | EUR | 2,798 | $ | (53) | |||||||||||||||||||
Soitec SA | Goldman Sachs International | 11,500 | 07/06/22 | EUR | 173.51 | EUR | 1,558 | (17) | ||||||||||||||||||||
Wolfspeed, Inc. | Bank of America N.A. | 22,400 | 07/11/22 | USD | 81.32 | USD | 1,421 | (921) | ||||||||||||||||||||
Wolfspeed, Inc. | Citibank N.A. | 16,000 | 07/11/22 | USD | 101.52 | USD | 1,015 | (1) | ||||||||||||||||||||
Soitec SA | Morgan Stanley & Co. International PLC | 11,700 | 07/12/22 | EUR | 181.70 | EUR | 1,585 | (59) | ||||||||||||||||||||
Altium Ltd. | JPMorgan Chase Bank N.A. | 135,300 | 07/13/22 | AUD | 30.85 | AUD | 3,641 | (11,553) | ||||||||||||||||||||
Kakao Corp. | JPMorgan Chase Bank N.A. | 196,800 | 07/13/22 | USD | 85,917.68 | USD | 13,756,320 | (986) | ||||||||||||||||||||
Samsung SDI Co. Ltd. | Goldman Sachs International | 27,900 | 07/13/22 | USD | 593,827.14 | USD | 14,842,800 | (24,308) | ||||||||||||||||||||
Alphawave IP Group PLC | Goldman Sachs International | 122,000 | 07/19/22 | GBP | 1.91 | GBP | 164 | (374) | ||||||||||||||||||||
Altium Ltd. | Morgan Stanley & Co. International PLC | 37,600 | 07/19/22 | AUD | 29.88 | AUD | 1,012 | (9,502) | ||||||||||||||||||||
Informa PLC | Goldman Sachs International | 311,200 | 07/19/22 | GBP | 5.59 | GBP | 1,646 | (17,591) | ||||||||||||||||||||
Nordic Semiconductor ASA | Goldman Sachs International | 25,400 | 07/19/22 | NOK | 201.06 | NOK | 3,881 | (1,063) | ||||||||||||||||||||
Siteminder Ltd. | UBS AG | 130,000 | 07/19/22 | AUD | 4.93 | AUD | 456 | (179) | ||||||||||||||||||||
Soitec SA | Morgan Stanley & Co. International PLC | 27,000 | 07/19/22 | EUR | 177.89 | EUR | 3,659 | (1,612) | ||||||||||||||||||||
Xero Ltd. | Morgan Stanley & Co. International PLC | 14,800 | 07/19/22 | AUD | 92.84 | AUD | 1,139 | (4,723) | ||||||||||||||||||||
BE Semiconductor Industries NV | Goldman Sachs International | 25,800 | 07/20/22 | EUR | 59.22 | EUR | 1,183 | (4,160) | ||||||||||||||||||||
GMO Payment Gateway, Inc. | UBS AG | 25,200 | 07/20/22 | JPY | 11,145.60 | JPY | 240,660 | (15,782) | ||||||||||||||||||||
Kakao Corp. | UBS AG | 63,300 | 07/21/22 | USD | 84,721.47 | USD | 4,424,670 | (1,893) | ||||||||||||||||||||
Thoughtworks Holding, Inc. | Barclays Bank PLC | 46,700 | 07/25/22 | USD | 19.00 | USD | 659 | (1,583) | ||||||||||||||||||||
Alphawave IP Group PLC | Goldman Sachs International | 114,000 | 07/26/22 | GBP | 1.92 | GBP | 153 | (780) | ||||||||||||||||||||
Altium Ltd. | Goldman Sachs International | 85,000 | 07/26/22 | AUD | 27.87 | AUD | 2,287 | (66,425) | ||||||||||||||||||||
Informa PLC | Goldman Sachs International | 424,600 | 07/26/22 | GBP | 5.28 | GBP | 2,245 | (92,188) | ||||||||||||||||||||
Monolithic Power Systems, Inc. | Barclays Bank PLC | 7,900 | 07/26/22 | USD | 433.62 | USD | 3,034 | (53,480) | ||||||||||||||||||||
Nordic Semiconductor ASA | Goldman Sachs International | 42,650 | 07/26/22 | NOK | 202.33 | NOK | 6,517 | (2,923) | ||||||||||||||||||||
Wolters Kluwer N.V. | Morgan Stanley & Co. International PLC | 40,600 | 07/26/22 | EUR | 86.87 | EUR | 3,758 | (265,253) | ||||||||||||||||||||
Adyen NV | Goldman Sachs International | 5,700 | 07/27/22 | EUR | 1,544.77 | EUR | 7,912 | (147,534) | ||||||||||||||||||||
GMO Payment Gateway, Inc. | JPMorgan Chase Bank N.A. | 23,600 | 07/27/22 | JPY | 11,372.61 | JPY | 225,380 | (17,133) | ||||||||||||||||||||
Siteminder Ltd. | Morgan Stanley & Co. International PLC | 72,500 | 07/27/22 | AUD | 4.91 | AUD | 254 | (359) | ||||||||||||||||||||
Soitec SA | UBS AG | 3,400 | 07/27/22 | EUR | 184.80 | EUR | 461 | (333) | ||||||||||||||||||||
Xero Ltd. | BNP Paribas S.A. | 90,000 | 07/27/22 | AUD | 86.76 | AUD | 6,926 | (114,006) | ||||||||||||||||||||
CTS Eventim AG & Co. KGaA | Goldman Sachs International | 13,600 | 07/28/22 | EUR | 55.83 | EUR | 680 | (6,150) | ||||||||||||||||||||
E Ink Holdings Ltd., GDR | Goldman Sachs International | 390,000 | 07/28/22 | USD | 215.07 | USD | 73,515 | (50,497) | ||||||||||||||||||||
Freee KK | Goldman Sachs International | 43,200 | 07/28/22 | JPY | 3,417.40 | JPY | 141,696 | (90,722) | ||||||||||||||||||||
Prosus N.V. | Goldman Sachs International | 21,300 | 07/28/22 | EUR | 50.45 | EUR | 1,331 | (266,754) | ||||||||||||||||||||
Alphawave IP Group PLC | UBS AG | 108,000 | 08/02/22 | GBP | 1.75 | GBP | 145 | (2,950) | ||||||||||||||||||||
Altium Ltd. | JPMorgan Chase Bank N.A. | 39,300 | 08/02/22 | AUD | 29.00 | AUD | 1,058 | (24,693) | ||||||||||||||||||||
Asm International NV | Barclays Bank PLC | 20,300 | 08/02/22 | EUR | 260.83 | EUR | 4,844 | (138,045) | ||||||||||||||||||||
Freee KK | JPMorgan Chase Bank N.A. | 110,600 | 08/02/22 | JPY | 3,586.09 | JPY | 362,768 | (198,199) | ||||||||||||||||||||
GMO Payment Gateway, Inc. | JPMorgan Chase Bank N.A. | 23,600 | 08/02/22 | JPY | 11,074.00 | JPY | 225,380 | (31,893) | ||||||||||||||||||||
Prosus N.V. | Credit Suisse International | 21,300 | 08/03/22 | EUR | 50.45 | EUR | 1,331 | (271,399) | ||||||||||||||||||||
Eventbrite, Inc., Class A | Citibank N.A. | 124,800 | 08/04/22 | USD | 12.23 | USD | 1,282 | (26,370) | ||||||||||||||||||||
Thoughtworks Holding, Inc. | Barclays Bank PLC | 46,700 | 08/04/22 | USD | 19.00 | USD | 659 | (3,713) | ||||||||||||||||||||
Altium Ltd. | Morgan Stanley & Co. International PLC | 39,300 | 08/09/22 | AUD | 27.23 | AUD | 1,058 | (48,956) | ||||||||||||||||||||
E Ink Holdings Ltd., GDR | Goldman Sachs International | 270,000 | 08/09/22 | USD | 197.92 | USD | 50,895 | (97,054) | ||||||||||||||||||||
Nordic Semiconductor ASA | Goldman Sachs International | 42,600 | 08/09/22 | NOK | 161.76 | NOK | 6,509 | (42,227) | ||||||||||||||||||||
Prosus N.V. | Goldman Sachs International | 40,200 | 08/09/22 | EUR | 51.86 | EUR | 2,512 | (461,387) | ||||||||||||||||||||
Soitec SA | Morgan Stanley & Co. International PLC | 12,100 | 08/09/22 | EUR | 162.00 | EUR | 1,640 | (16,407) | ||||||||||||||||||||
Soitec SA | UBS AG | 2,200 | 08/09/22 | EUR | 151.68 | EUR | 298 | (7,296) | ||||||||||||||||||||
ZoomInfo Technologies, Inc. | JPMorgan Chase Bank N.A. | 25,700 | 08/09/22 | USD | 44.37 | USD | 854 | (13,694) | ||||||||||||||||||||
Silergy Corp. | Morgan Stanley & Co. International PLC | 86,000 | 08/11/22 | USD | 2,795.43 | USD | 205,970 | (284,961) | ||||||||||||||||||||
Thoughtworks Holding, Inc. | Bank of America N.A. | 77,000 | 08/11/22 | USD | 17.74 | USD | 1,086 | (17,356) | ||||||||||||||||||||
Lasertec Corp. | UBS AG | 79,800 | 08/16/22 | JPY | 18,278.86 | JPY | 1,288,770 | (391,760) | ||||||||||||||||||||
Thoughtworks Holding, Inc. | JPMorgan Chase Bank N.A. | 42,800 | 09/01/22 | USD | 15.60 | USD | 604 | (40,712) | ||||||||||||||||||||
$ | (3,389,969) | |||||||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 9,288,916 | $ | (3,199,894 | ) | $ | (13,353,619) | |||||||||
C O N S O L I D A T E D SC H E D U L E O F IN V E S T M E N T S | 115 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust II (BSTZ) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 13,353,619 | $ | — | $ | — | $ | — | $ | 13,353,619 | ||||||||||||||
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options purchased (a) | $ | — | $ | — | $ | (371 | ) | $ | — | $ | — | $ | — | $ | (371 | ) | ||||||||||||
Options written | — | — | 74,585,111 | — | — | — | 74,585,111 | |||||||||||||||||||||
$ | — | $ | — | $ | 74,584,740 | $ | — | $ | — | $ | — | $ | 74,584,740 | |||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | (937,621 | ) | $ | — | $ | — | $ | — | $ | (937,621 | ) | ||||||||||||
(a) | Options purchased are included in net realized gain (loss) from investments — unaffiliated. |
Options: | ||||
Average value of option contracts written | $ | (17,158,685) | ||
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 13,353,619 | ||||
Total derivative assets and liabilities in the Consolidated Statements of Assets and Liabilities | — | 13,353,619 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (9,963,650 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 3,389,969 | ||||
116 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust II (BSTZ) |
Counterparty | | Derivative Liabilities Subject to an MNA by Counterparty | | | Derivatives Available for Offset | | | Non-Cash Collateral Pledged | | | Cash Collateral Pledged | (a) | | Net Amount of Derivative Liabilities | (b) | |||||
Bank of America N.A. | $ | 18,277 | $ | — | $ | — | $ | (18,277 | ) | $ | — | |||||||||
Barclays Bank PLC | 196,821 | — | — | (196,821 | ) | — | ||||||||||||||
BNP Paribas S.A. | 114,006 | — | — | — | 114,006 | |||||||||||||||
Citibank N.A. | 26,371 | — | — | (26,371 | ) | — | ||||||||||||||
Credit Suisse International | 271,399 | — | — | — | 271,399 | |||||||||||||||
Goldman Sachs International | 1,372,207 | — | — | (1,372,207 | ) | — | ||||||||||||||
JPMorgan Chase Bank N.A. | 338,863 | — | — | (338,863 | ) | — | ||||||||||||||
Morgan Stanley & Co. International PLC | 631,832 | — | — | (470,000 | ) | 161,832 | ||||||||||||||
UBS AG | 420,193 | — | — | (30,000 | ) | 390,193 | ||||||||||||||
$ | 3,389,969 | $ | — | $ | — | $ | (2,452,539 | ) | $ | 937,430 | ||||||||||
(a) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(b) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Consolidated Statements of Assets and Liabilities. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Automobiles | $ | 57,264,764 | $ | — | $ | — | $ | 57,264,764 | ||||||||
Banks | — | — | 63,327,976 | 63,327,976 | ||||||||||||
Chemicals | — | 13,814,843 | — | 13,814,843 | ||||||||||||
Diversified Consumer Services | — | — | 17,856,989 | 17,856,989 | ||||||||||||
Electrical Equipment | — | 7,551,689 | — | 7,551,689 | ||||||||||||
Electronic Equipment, Instruments & Components | 14,669,412 | 46,393,011 | — | 61,062,423 | ||||||||||||
Entertainment | 25,982,684 | 7,137,500 | — | 33,120,184 | ||||||||||||
Hotels, Restaurants & Leisure | 15,552,045 | — | — | 15,552,045 | ||||||||||||
Interactive Media & Services | 37,708,387 | 31,797,820 | — | 69,506,207 | ||||||||||||
Internet & Direct Marketing Retail | 12,113,561 | 14,178,574 | — | 26,292,135 | ||||||||||||
IT Services | 144,330,427 | 38,320,138 | 41,334,008 | 223,984,573 | ||||||||||||
Media | — | 16,750,244 | — | 16,750,244 | ||||||||||||
Professional Services | 29,168,027 | 13,120,944 | — | 42,288,971 | ||||||||||||
Semiconductors & Semiconductor Equipment | 146,300,390 | 149,005,446 | 2,672,149 | 297,977,985 | ||||||||||||
Software | 205,859,289 | 60,894,495 | 39,846,128 | 306,599,912 | ||||||||||||
Technology Hardware, Storage & Peripherals | 23,937,630 | — | — | 23,937,630 | ||||||||||||
Preferred Securities | ||||||||||||||||
Preferred Stocks | — | — | 460,122,655 | 460,122,655 | ||||||||||||
Warrants | — | — | 116,381 | 116,381 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 102,224,041 | — | — | 102,224,041 | ||||||||||||
$ | 815,110,657 | $ | 398,964,704 | $ | 625,276,286 | 1,839,351,647 | ||||||||||
Investments Valued at NAV (a) | 4,922,598 | |||||||||||||||
$ | 1,844,274,245 | |||||||||||||||
C O N S O L I D A T E D SC H E D U L E O F IN V E S T M E N T S | 117 |
Consolidated Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Science and Technology Trust II (BSTZ) |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Derivative Financial Instruments (b) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (6,456,028 | ) | $ | (6,897,591 | ) | $ | — | $ | (13,353,619 | ) | |||||
(a) | 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. |
(b) | Derivative financial instruments are options written. Options written are shown at value. |
Common Stocks | Preferred Stocks | Warrants | Total | |||||||||||||
Assets | ||||||||||||||||
Opening balance, as of December 31, 2021 | $ | 246,829,600 | $ | 565,071,190 | 323,803 | $ | 812,224,593 | |||||||||
Transfers into Level 3 | — | — | — | — | ||||||||||||
Transfers out of Level 3 | — | — | — | — | ||||||||||||
Accrued discounts/premiums | — | — | — | — | ||||||||||||
Net realized gain (loss) | — | — | — | — | ||||||||||||
Net change in unrealized appreciation (depreciation) (a)(b) | (81,792,350 | ) | (83,330,556 | ) | (207,422 | ) | (165,330,328 | ) | ||||||||
Purchases | — | — | — | — | ||||||||||||
Sales | — | (21,617,979 | ) | — | (21,617,979 | ) | ||||||||||
Closing balance, as of June 30, 2022 | $ | 165,037,250 | $ | 460,122,655 | 116,381 | $ | 625,276,286 | |||||||||
Net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 (b) | $ | (81,792,350 | ) | $ | (71,445,770 | ) | (207,422 | ) | $ | (153,445,542) | ||||||
(a) | Included in the related net change in unrealized appreciation (depreciation) in the Consolidated Statements of Operations. |
(b) | Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on investments still held at June 30, 2022 is generally due to investments no longer held or categorized as Level 3 at period end. |
Value | Valuation Approach | | Unobservable Inputs | Range of Unobservable Inputs Utilized | (a) | | Weighted Average of Unobservable Inputs Based on Fair Value | | ||||||||||
Assets | ||||||||||||||||||
Common Stocks | $ | 165,037,250 | Market | Revenue Multiple | 2.75x - 29.00x | 13.99x | ||||||||||||
Volatility | 39% - 70% | 43% | ||||||||||||||||
Time to Exit | 0.5 year - 2.0 years | 0.7 year | ||||||||||||||||
Preferred Stocks | 460,122,655 | Market | Revenue Multiple | 3.35x - 29.00x | 15.80x | |||||||||||||
Volatility | 31% - 63% | 49% | ||||||||||||||||
Time to Exit | 3.0 - 4.0 years | 3.9 years | ||||||||||||||||
Market Adjustment Multiple | 1.00x - 1.00x | 1.00x | ||||||||||||||||
Gross Profit Multiple | 11.89x | — | ||||||||||||||||
Warrants | 116,381 | Market | Volatility | 39% | — | |||||||||||||
Time to Exit | 0.5 year | — | ||||||||||||||||
Revenue Multiple | 7.50x | — | ||||||||||||||||
$ | 625,276,286 | |||||||||||||||||
(a) | A significant change in unobservable input would have resulted in a correlated (inverse) significant change to value. |
118 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) June 30, 2022 | BlackRock Utilities, Infrastructure & Power Opportunities Trust (BUI) (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Building Products — 5.7% | ||||||||
Johnson Controls International PLC (a) | 260,709 | $ | 12,482,747 | |||||
Kingspan Group PLC | 101,015 | 6,074,143 | ||||||
Trane Technologies PLC (a) | 67,050 | 8,707,783 | ||||||
27,264,673 | ||||||||
Chemicals — 4.1% | ||||||||
Air Liquide SA | 41,268 | 5,554,787 | ||||||
LG Chem Ltd. | 10,800 | 4,290,644 | ||||||
Linde PLC (b) | 20,728 | 5,963,451 | ||||||
Sika AG, Registered Shares | 15,490 | 3,575,668 | ||||||
19,384,550 | ||||||||
Commercial Services & Supplies (a) — 6.0% | ||||||||
Waste Connections, Inc. | 93,600 | 11,602,656 | ||||||
Waste Management, Inc. | 112,850 | 17,263,793 | ||||||
28,866,449 | ||||||||
Construction & Engineering — 3.1% | ||||||||
Quanta Services, Inc. (a) | 53,160 | 6,663,075 | ||||||
Vinci SA | 89,200 | 8,006,718 | ||||||
14,669,793 | ||||||||
Electric Utilities — 29.7% | ||||||||
American Electric Power Co., Inc. (a) | 166,900 | 16,012,386 | ||||||
Duke Energy Corp. (a) | 125,368 | 13,440,703 | ||||||
Edison International (a) | 121,050 | 7,655,202 | ||||||
EDP - Energias de Portugal SA | 1,747,750 | 8,145,094 | ||||||
Enel SpA | 3,975,525 | 21,802,654 | ||||||
Exelon Corp. (a) | 161,558 | 7,321,808 | ||||||
FirstEnergy Corp. (a) | 185,750 | 7,130,942 | ||||||
Iberdrola SA | 944,175 | 9,830,187 | ||||||
Neoenergia SA | 1,083,900 | 3,090,082 | ||||||
NextEra Energy, Inc. (a)(c) | 535,030 | 41,443,424 | ||||||
Xcel Energy, Inc. (a) | 88,990 | 6,296,932 | ||||||
142,169,414 | ||||||||
Electrical Equipment — 7.7% | ||||||||
Eaton Corp. PLC (a) | 35,940 | 4,528,080 | ||||||
ITM Power PLC (b)(d) | 598,850 | 1,262,660 | ||||||
Prysmian SpA | 199,700 | 5,486,337 | ||||||
Schneider Electric SE | 68,982 | 8,219,583 | ||||||
Sunrun, Inc. (a)(b) | 89,000 | 2,079,040 | ||||||
Vertiv Holdings Co. | 256,700 | 2,110,074 | ||||||
Vestas Wind Systems A/S | 408,021 | 8,675,341 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class H | 2,274,400 | 4,267,300 | ||||||
36,628,415 | ||||||||
Electronic Equipment, Instruments & Components — 0.9% | ||||||||
Samsung SDI Co. Ltd. | 10,700 | 4,412,518 | ||||||
Independent Power and Renewable Electricity Producers — 10.4% | ||||||||
AES Corp. (a) | 418,140 | 8,785,121 | ||||||
China Longyuan Power Group Corp. Ltd., Class H | 3,129,000 | 6,063,895 | ||||||
EDP Renovaveis SA | 450,792 | 10,648,872 | ||||||
ReNew Energy Global PLC, Class A (b) | 506,500 | 3,277,055 | ||||||
RWE AG | 510,150 | 18,868,428 | ||||||
Sunnova Energy International, Inc. (a)(b) | 116,700 | 2,150,781 | ||||||
49,794,152 |
Security | Shares | Value | ||||||
Machinery — 4.0% | ||||||||
Atlas Copco AB, B Shares | 1,094,800 | $ | 9,173,240 | |||||
Ingersoll Rand, Inc. (a) | 239,100 | 10,061,328 | ||||||
19,234,568 | ||||||||
Multi-Utilities — 13.3% | ||||||||
CMS Energy Corp. (a) | 151,160 | 10,203,301 | ||||||
Dominion Energy, Inc. (a)(c) | 183,548 | 14,648,966 | ||||||
National Grid PLC | 928,474 | 11,931,758 | ||||||
Public Service Enterprise Group, Inc. (a) | 186,042 | 11,772,738 | ||||||
Sempra Energy (a) | 99,000 | 14,876,730 | ||||||
63,433,493 | ||||||||
Oil, Gas & Consumable Fuels — 10.1% | ||||||||
Cheniere Energy, Inc. (a) | 55,200 | 7,343,256 | ||||||
Enterprise Products Partners LP (a) | 266,963 | 6,505,888 | ||||||
TC Energy Corp. | 386,750 | 20,034,563 | ||||||
Williams Cos., Inc. (a) | 468,855 | 14,632,965 | ||||||
48,516,672 | ||||||||
Semiconductors & Semiconductor Equipment — 2.4% | ||||||||
Analog Devices, Inc. (a) | 24,374 | 3,560,798 | ||||||
Canadian Solar, Inc. (b) | 82,140 | 2,557,839 | ||||||
First Solar, Inc. (a)(b) | 32,984 | 2,247,200 | ||||||
Infineon Technologies AG | 137,500 | 3,344,757 | ||||||
11,710,594 | ||||||||
Total Long-Term Investments — 97.4% (Cost: $360,756,459) | 466,085,291 | |||||||
Short-Term Securities | ||||||||
Money Market Funds — 3.1% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.33%(e)(f) | 14,388,466 | 14,388,466 | ||||||
SL Liquidity Series, LLC, Money Market Series, 1.73% (e)(f) | 529,428 | 529,322 | ||||||
Total Short-Term Securities — 3.1% (Cost: $14,917,841) | 14,917,788 | |||||||
Total Investments Before Options Written — 100.5% (Cost: $375,674,300) | 481,003,079 | |||||||
Options Written — (0.7)% (Premiums Received: $(4,345,001)) | (3,245,148 | ) | ||||||
Total Investments, Net of Options Written — 99.8% (Cost: $371,329,299) | 477,757,931 | |||||||
Other Assets Less Liabilities — 0.2% | 885,017 | |||||||
Net Assets — 100.0% | $ | 478,642,948 | ||||||
(a) | All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written. |
(b) | Non-income producing security. |
(c) | All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives. |
(d) | All or a portion of this security is on loan. |
(e) | Affiliate of the Trust. |
(f) | Annualized 7-day yield as of period end. |
S C H E D U L E O F IN V E S T M E N T S | 119 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Utilities, Infrastructure & Power Opportunities Trust (BUI) |
Affiliated Issuer | Value at 12/31/21 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 06/30/22 | Shares Held at 06/30/22 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 7,380,748 | $ | 7,007,718 | (a) | $ | — | $ | — | $ | — | $ | 14,388,466 | 14,388,466 | $ | 20,337 | $ | — | ||||||||||||||||||
SL Liquidity Series, LLC, Money Market Series | — | 529,384 | (a) | — | (9 | ) | (53 | ) | 529,322 | 529,428 | 1,355 | (b) | — | |||||||||||||||||||||||
$ | (9 | ) | $ | (53 | ) | $ | 14,917,788 | $ | 21,692 | $ | — | |||||||||||||||||||||||||
(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. |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||
Analog Devices, Inc. | 24 | 07/01/22 | USD | 175.00 | USD | 351 | $ | (1,800) | ||||||||||||||||||||
First Solar, Inc. | 55 | 07/01/22 | USD | 69.00 | USD | 375 | (2,008) | |||||||||||||||||||||
Waste Management, Inc. | 175 | 07/01/22 | USD | 155.00 | USD | 2,677 | (7,875) | |||||||||||||||||||||
Analog Devices, Inc. | 26 | 07/08/22 | USD | 165.00 | USD | 380 | (2,600) | |||||||||||||||||||||
Eaton Corporation PLC | 80 | 07/08/22 | USD | 145.00 | USD | 1,008 | (800) | |||||||||||||||||||||
Waste Management, Inc. | 219 | 07/08/22 | USD | 160.00 | USD | 3,350 | (6,570) | |||||||||||||||||||||
American Electric Power Co., Inc. | 319 | 07/15/22 | USD | 100.00 | USD | 3,060 | (9,570) | |||||||||||||||||||||
Analog Devices, Inc. | 10 | 07/15/22 | USD | 152.50 | USD | 146 | (1,825) | |||||||||||||||||||||
Cheniere Energy, Inc. | 52 | 07/15/22 | USD | 145.00 | USD | 692 | (4,420) | |||||||||||||||||||||
Dominion Energy, Inc. | 351 | 07/15/22 | USD | 85.00 | USD | 2,801 | (3,510) | |||||||||||||||||||||
Duke Energy Corp. | 241 | 07/15/22 | USD | 110.00 | USD | 2,584 | (15,063) | |||||||||||||||||||||
Eaton Corporation PLC | 45 | 07/15/22 | USD | 145.00 | USD | 567 | (675) | |||||||||||||||||||||
Exelon Corp. | 282 | 07/15/22 | USD | 49.00 | USD | 1,278 | (2,820) | |||||||||||||||||||||
First Solar, Inc. | 60 | 07/15/22 | USD | 72.00 | USD | 409 | (7,170) | |||||||||||||||||||||
FirstEnergy Corp. | 335 | 07/15/22 | USD | 44.00 | USD | 1,286 | (16,750) | |||||||||||||||||||||
Ingersoll Rand, Inc. | 493 | 07/15/22 | USD | 45.71 | USD | 2,075 | (23,504) | |||||||||||||||||||||
Johnson Controls International PLC | 394 | 07/15/22 | USD | 55.00 | USD | 1,886 | (3,940) | |||||||||||||||||||||
NextEra Energy, Inc. | 456 | 07/15/22 | USD | 75.00 | USD | 3,532 | (157,320) | |||||||||||||||||||||
Public Service Enterprise Group, Inc. | 217 | 07/15/22 | USD | 60.00 | USD | 1,373 | (75,950) | |||||||||||||||||||||
Quanta Services, Inc. | 34 | 07/15/22 | USD | 120.50 | USD | 426 | (24,017) | |||||||||||||||||||||
Quanta Services, Inc. | 62 | 07/15/22 | USD | 125.00 | USD | 777 | (26,040) | |||||||||||||||||||||
Sempra Energy | 173 | 07/15/22 | USD | 165.00 | USD | 2,600 | (6,055) | |||||||||||||||||||||
Sempra Energy | 173 | 07/15/22 | USD | 155.00 | USD | 2,600 | (14,705) | |||||||||||||||||||||
Sunnova Energy International, Inc. | 150 | 07/15/22 | USD | 20.00 | USD | 276 | (10,875) | |||||||||||||||||||||
Sunrun, Inc. | 311 | 07/15/22 | USD | 25.00 | USD | 726 | (30,633) | |||||||||||||||||||||
Trane Technologies PLC | 117 | 07/15/22 | USD | 135.00 | USD | 1,519 | (19,305) | |||||||||||||||||||||
Waste Connections, Inc. | 115 | 07/15/22 | USD | 125.00 | USD | 1,426 | (18,975) | |||||||||||||||||||||
Williams Cos., Inc. | 266 | 07/15/22 | USD | 32.00 | USD | 830 | (13,965) | |||||||||||||||||||||
Analog Devices, Inc. | 25 | 07/22/22 | USD | 160.00 | USD | 365 | (2,063) | |||||||||||||||||||||
Waste Management, Inc. | 87 | 07/22/22 | USD | 155.00 | USD | 1,331 | (23,055) | |||||||||||||||||||||
American Electric Power Co., Inc. | 225 | 07/28/22 | USD | 93.00 | USD | 2,159 | (93,795) | |||||||||||||||||||||
Exelon Corp. | 283 | 07/29/22 | USD | 43.50 | USD | 1,283 | (67,509) | |||||||||||||||||||||
Analog Devices, Inc. | 12 | 08/05/22 | USD | 155.00 | USD | 175 | (3,600) | |||||||||||||||||||||
Enterprise Products Partners LP | 253 | 08/05/22 | USD | 25.00 | USD | 617 | (12,271) | |||||||||||||||||||||
Williams Cos., Inc. | 512 | 08/05/22 | USD | 33.00 | USD | 1,598 | (35,840) | |||||||||||||||||||||
NextEra Energy, Inc. | 708 | 08/08/22 | USD | 83.00 | USD | 5,484 | (69,552) | |||||||||||||||||||||
Enterprise Products Partners LP | 428 | 08/12/22 | USD | 25.30 | USD | 1,043 | (18,513) | |||||||||||||||||||||
Williams Cos., Inc. | 512 | 08/12/22 | USD | 33.09 | USD | 1,598 | (39,428) | |||||||||||||||||||||
AES Corp. | 1,463 | 08/19/22 | USD | 20.00 | USD | 3,074 | (237,737) | |||||||||||||||||||||
American Electric Power Co., Inc. | 40 | 08/19/22 | USD | 106.25 | USD | 384 | (1,231) | |||||||||||||||||||||
Cheniere Energy, Inc. | 156 | 08/19/22 | USD | 141.35 | USD | 2,075 | (80,023) |
120 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Utilities, Infrastructure & Power Opportunities Trust (BUI) |
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||
CMS Energy Corp. | 530 | 08/19/22 | USD | 63.75 | USD | 3,578 | $ | (243,370 | ) | |||||||||||||||
Dominion Energy, Inc. | 291 | 08/19/22 | USD | 77.75 | USD | 2,322 | (108,241 | ) | ||||||||||||||||
Duke Energy Corp. | 197 | 08/19/22 | USD | 110.00 | USD | 2,112 | (41,862 | ) | ||||||||||||||||
Edison International | 423 | 08/19/22 | USD | 62.50 | USD | 2,675 | (111,037 | ) | ||||||||||||||||
Enterprise Products Partners LP | 253 | 08/19/22 | USD | 25.00 | USD | 617 | (14,674 | ) | ||||||||||||||||
FirstEnergy Corp. | 315 | 08/19/22 | USD | 38.00 | USD | 1,209 | (48,825 | ) | ||||||||||||||||
Ingersoll Rand, Inc. | 343 | 08/19/22 | USD | 45.00 | USD | 1,443 | (39,445 | ) | ||||||||||||||||
Johnson Controls International PLC | 518 | 08/19/22 | USD | 52.50 | USD | 2,480 | (37,555 | ) | ||||||||||||||||
NextEra Energy, Inc. | 708 | 08/19/22 | USD | 78.76 | USD | 5,484 | (191,728 | ) | ||||||||||||||||
Public Service Enterprise Group, Inc. | 217 | 08/19/22 | USD | 60.00 | USD | 1,373 | (95,480 | ) | ||||||||||||||||
Quanta Services, Inc. | 90 | 08/19/22 | USD | 130.00 | USD | 1,128 | (53,550 | ) | ||||||||||||||||
Sunnova Energy International, Inc. | 258 | 08/19/22 | USD | 21.00 | USD | 475 | (39,297 | ) | ||||||||||||||||
TC Energy Corp. | 678 | 08/19/22 | CAD | 72.00 | CAD | 4,521 | (27,390 | ) | ||||||||||||||||
Trane Technologies PLC | 117 | 08/19/22 | USD | 130.00 | USD | 1,519 | (72,540 | ) | ||||||||||||||||
Waste Connections, Inc. | 212 | 08/19/22 | USD | 124.00 | USD | 2,628 | (92,196 | ) | ||||||||||||||||
Williams Cos., Inc. | 350 | 08/19/22 | USD | 32.00 | USD | 1,092 | (44,625 | ) | ||||||||||||||||
Xcel Energy, Inc. | 153 | 08/19/22 | USD | 70.00 | USD | 1,083 | (42,457 | ) | ||||||||||||||||
Public Service Enterprise Group, Inc. | 217 | 09/16/22 | USD | 60.00 | USD | 1,373 | (101,990 | ) | ||||||||||||||||
TC Energy Corp. | 675 | 09/16/22 | CAD | 68.00 | CAD | 4,501 | (115,629 | ) | ||||||||||||||||
$ | (2,715,248 | ) | ||||||||||||||||||||||
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
LG Chem Ltd. | Goldman Sachs International | 4,400 | 07/06/22 | USD | 539,143.36 | USD | 2,270,400 | $ | (13,401) | |||||||||||||||||||||
Linde PLC | Morgan Stanley & Co. International PLC | 3,500 | 07/06/22 | EUR | 304.85 | EUR | 959 | (40 | ) | |||||||||||||||||||||
Neoenergia SA | Citibank N.A. | 130,400 | 07/06/22 | USD | 18.09 | USD | 1,946 | — | ||||||||||||||||||||||
RWE AG | Goldman Sachs International | 41,000 | 07/06/22 | EUR | 41.98 | EUR | 1,438 | (14 | ) | |||||||||||||||||||||
China Longyuan Power Group Corp., Ltd., Class H | Morgan Stanley & Co. International PLC | 550,000 | 07/08/22 | HKD | 16.79 | HKD | 8,338 | (4,483 | ) | |||||||||||||||||||||
Vinci SA | Goldman Sachs International | 5,000 | 07/08/22 | EUR | 92.16 | EUR | 425 | (250 | ) | |||||||||||||||||||||
Air Liquide SA | Goldman Sachs International | 14,520 | 07/13/22 | EUR | 153.61 | EUR | 1,860 | (23 | ) | |||||||||||||||||||||
Atlas Copco AB, B Shares | UBS AG | 227,553 | 07/13/22 | SEK | 96.51 | SEK | 19,465 | (3,970) | ||||||||||||||||||||||
EDP Renovaveis S/A | UBS AG | 42,200 | 07/13/22 | EUR | 23.54 | EUR | 950 | (10,112 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Goldman Sachs International | 211,700 | 07/13/22 | EUR | 4.81 | EUR | 942 | (1,661 | ) | |||||||||||||||||||||
ITM Power PLC | Goldman Sachs International | 104,600 | 07/13/22 | GBP | 3.19 | GBP | 181 | — | ||||||||||||||||||||||
Samsung SDI Co. Ltd. | Goldman Sachs International | 3,700 | 07/13/22 | USD | 593,827.14 | �� | USD | 1,968,400 | (3,224 | ) | ||||||||||||||||||||
Xcel Energy, Inc. | Barclays Bank PLC | 15,800 | 07/15/22 | USD | 74.43 | USD | 1,118 | (2,450 | ) | |||||||||||||||||||||
China Longyuan Power Group Corp., Ltd., Class H | BNP Paribas SA | 545,000 | 07/19/22 | HKD | 17.52 | HKD | 8,262 | (7,162 | ) | |||||||||||||||||||||
Kingspan Group PLC | Goldman Sachs International | 33,000 | 07/19/22 | EUR | 76.58 | EUR | 1,894 | (1,052) | ||||||||||||||||||||||
Prysmian SpA | Merrill Lynch International | 68,700 | 07/19/22 | EUR | 30.92 | EUR | 1,801 | (773 | ) | |||||||||||||||||||||
Vinci SA | UBS AG | 26,800 | 07/19/22 | EUR | 92.89 | EUR | 2,277 | (5,860 | ) | |||||||||||||||||||||
EDP Renovaveis S/A | Credit Suisse International | 81,000 | 07/20/22 | EUR | 24.26 | EUR | 1,824 | (15,115 | ) | |||||||||||||||||||||
Iberdrola SA | Credit Suisse International | 240,100 | 07/20/22 | EUR | 10.74 | EUR | 2,376 | (9,300 | ) | |||||||||||||||||||||
ITM Power PLC | Goldman Sachs International | 105,000 | 07/20/22 | GBP | 3.07 | GBP | 181 | (4 | ) | |||||||||||||||||||||
Schneider Electric SE | Barclays Bank PLC | 13,300 | 07/20/22 | EUR | 133.36 | EUR | 1,502 | (663 | ) | |||||||||||||||||||||
Neoenergia SA | Citibank N.A. | 124,500 | 07/21/22 | USD | 18.44 | USD | 1,858 | (2 | ) | |||||||||||||||||||||
Linde PLC | JPMorgan International Bank Ltd. | 3,800 | 07/26/22 | EUR | 285.67 | EUR | 1,041 | (14,486) | ||||||||||||||||||||||
Rwe AG | Morgan Stanley & Co. International PLC | 43,300 | 07/26/22 | EUR | 43.01 | EUR | 1,519 | (1,095 | ) | |||||||||||||||||||||
EDP-Energias de Portugal SA | Goldman Sachs International | 400,000 | 07/27/22 | EUR | 4.58 | EUR | 1,781 | (31,087 | ) | |||||||||||||||||||||
Enel SpA | Credit Suisse International | 708,900 | 07/27/22 | EUR | 5.74 | EUR | 3,700 | (3,055 | ) | |||||||||||||||||||||
Infineon Technologies AG | Credit Suisse International | 25,000 | 07/27/22 | EUR | 29.57 | EUR | 577 | (799 | ) | |||||||||||||||||||||
Schneider Electric SE | Goldman Sachs International | 13,300 | 07/27/22 | EUR | 132.69 | EUR | 1,502 | (1,912 | ) | |||||||||||||||||||||
National Grid PLC | Morgan Stanley & Co. International PLC | 129,400 | 07/28/22 | GBP | 10.62 | GBP | 1,361 | (35,010 | ) | |||||||||||||||||||||
Neoenergia SA | Morgan Stanley & Co. International PLC | 124,500 | 07/28/22 | USD | 17.03 | USD | 1,858 | (603 | ) | |||||||||||||||||||||
Sika AG, Registered Shares | Goldman Sachs International | 5,600 | 07/28/22 | CHF | 226.41 | CHF | 1,232 | (38,860 | ) | |||||||||||||||||||||
Xinjiang Goldwind Science And Technology Ltd., Class H | JPMorgan International Bank Ltd. | 400,000 | 07/28/22 | HKD | 13.19 | HKD | 5,872 | (90,457 | ) |
S C H E D U L E O F IN V E S T M E N T S | 121 |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Utilities, Infrastructure & Power Opportunities Trust (BUI) |
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||||
Atlas Copco AB, B Shares | Goldman Sachs International | 156,000 | 08/02/22 | SEK | 103.29 | SEK | 13,344 | $ | (4,195 | ) | ||||||||||||||||||||
Rwe AG | Barclays Bank PLC | 94,300 | 08/03/22 | EUR | 37.58 | EUR | 3,308 | (75,886 | ) | |||||||||||||||||||||
EDP Renovaveis S/A | Goldman Sachs International | 34,500 | 08/09/22 | EUR | 22.63 | EUR | 777 | (34,358 | ) | |||||||||||||||||||||
Enel SpA | Barclays Bank PLC | 381,800 | 08/09/22 | EUR | 5.46 | EUR | 1,993 | (16,474 | ) | |||||||||||||||||||||
Enel SpA | Goldman Sachs International | 300,800 | 08/09/22 | EUR | 5.67 | EUR | 1,570 | (10,534 | ) | |||||||||||||||||||||
Iberdrola SA | Morgan Stanley & Co. International PLC | 90,400 | 08/09/22 | EUR | 10.37 | EUR | 895 | (16,301 | ) | |||||||||||||||||||||
Infineon Technologies AG | Goldman Sachs International | 23,100 | 08/09/22 | EUR | 25.93 | EUR | 533 | (9,441 | ) | |||||||||||||||||||||
National Grid PLC | UBS AG | 195,600 | 08/11/22 | GBP | 10.99 | GBP | 2,058 | (25,129 | ) | |||||||||||||||||||||
Xinjiang Goldwind Science And Technology Ltd., Class H | UBS AG | 396,000 | 08/11/22 | HKD | 14.99 | HKD | 5,813 | (40,659 | ) | |||||||||||||||||||||
$ | (529,900 | ) | ||||||||||||||||||||||||||||
Description | Swap Premiums Paid | Swap Premiums Received | Unrealized Appreciation | Unrealized Depreciation | Value | |||||||||||||||
Options Written | $ | N/A | $ | N/A | $ | 2,098,842 | $ | (998,989) | $ | (3,245,148 | ) |
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Liabilities — Derivative Financial Instruments | ||||||||||||||||||||||||||||
Options written | ||||||||||||||||||||||||||||
Options written at value | $ | — | $ | — | $ | 3,245,148 | $ | — | $ | — | $ | — | $ | 3,245,148 | ||||||||||||||
Commodity Contracts | Credit Contracts | Equity Contracts | Foreign Currency Exchange Contracts | Interest Rate Contracts | Other Contracts | Total | ||||||||||||||||||||||
Net Realized Gain (Loss) from: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 4,135,012 | $ | — | $ | — | $ | — | $ | 4,135,012 | ||||||||||||||
Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||||||||||||||
Options written | $ | — | $ | — | $ | 2,305,388 | $ | — | $ | — | $ | — | $ | 2,305,388 | ||||||||||||||
Options: | ||||
Average value of option contracts written | $ | 5,679,079 |
Assets | Liabilities | |||||||
Derivative Financial Instruments | ||||||||
Options | $ | — | $ | 3,245,148 | ||||
Total derivative assets and liabilities in the Statements of Assets and Liabilities | — | 3,245,148 | ||||||
Derivatives not subject to a Master Netting Agreement or similar agreement (“MNA”) | — | (2,715,248 | ) | |||||
Total derivative assets and liabilities subject to an MNA | $ | — | $ | 529,900 | ||||
122 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Schedule of Investments (unaudited) (continued) June 30, 2022 | BlackRock Utilities, Infrastructure & Power Opportunities Trust (BUI) |
Counterparty | Derivative Liabilities Subject to an MNA by Counterparty | | Derivatives Available for Offset | | | Non-Cash Collateral Pledged | (a) | | Cash Collateral Pledged | (a) | Net Amount of Derivative Liabilities | (b) | ||||||||
Barclays Bank PLC | $ | 95,473 | $ | — | $ | — | $ | — | $ | 95,473 | ||||||||||
BNP Paribas SA | 7,162 | — | — | — | 7,162 | |||||||||||||||
Citibank N.A. | 2 | — | — | — | 2 | |||||||||||||||
Credit Suisse International | 28,269 | — | — | — | 28,269 | |||||||||||||||
Goldman Sachs International | 150,016 | — | — | (150,016 | ) | — | ||||||||||||||
JPMorgan International Bank Ltd. | 104,943 | — | — | — | 104,943 | |||||||||||||||
Merrill Lynch International | 773 | — | — | — | 773 | |||||||||||||||
Morgan Stanley & Co. International PLC | 57,532 | — | (57,532 | ) | — | — | ||||||||||||||
UBS AG | 85,730 | — | (85,730 | ) | — | — | ||||||||||||||
$ | 529,900 | $ | — | $ | (143,262 | ) | $ | (150,016 | ) | $ | 236,622 | |||||||||
(a) | Excess of collateral received/pledged, if any, from the individual counterparty is not shown for financial reporting purposes. |
(b) | Net amount represents the net amount payable due to counterparty in the event of default. Net amount may be offset further by the options written receivable/payable on the Statements of Assets and Liabilities. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Building Products | $ | 21,190,530 | $ | 6,074,143 | $ | — | $ | 27,264,673 | ||||||||
Chemicals | — | 19,384,550 | — | 19,384,550 | ||||||||||||
Commercial Services & Supplies | 28,866,449 | — | — | 28,866,449 | ||||||||||||
Construction & Engineering | 6,663,075 | 8,006,718 | — | 14,669,793 | ||||||||||||
Electric Utilities | 102,391,479 | 39,777,935 | — | 142,169,414 | ||||||||||||
Electrical Equipment | 8,717,194 | 27,911,221 | — | 36,628,415 | ||||||||||||
Electronic Equipment, Instruments & Components | — | 4,412,518 | — | 4,412,518 | ||||||||||||
Independent Power and Renewable Electricity Producers | 14,212,957 | 35,581,195 | — | 49,794,152 | ||||||||||||
Machinery | 10,061,328 | 9,173,240 | — | 19,234,568 | ||||||||||||
Multi-Utilities | 51,501,735 | 11,931,758 | — | 63,433,493 | ||||||||||||
Oil, Gas & Consumable Fuels | 48,516,672 | — | — | 48,516,672 | ||||||||||||
Semiconductors & Semiconductor Equipment | 8,365,837 | 3,344,757 | — | 11,710,594 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 14,388,466 | — | — | 14,388,466 | ||||||||||||
$ | 314,875,722 | $ | 165,598,035 | $ | — | 480,473,757 | ||||||||||
Investments Valued at NAV (a) | 529,322 | |||||||||||||||
$ | 481,003,079 | |||||||||||||||
Derivative Financial Instruments (b) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (1,622,844 | ) | $ | (1,622,304 | ) | $ | — | $ | (3,245,148 | ) | |||||
(a) | 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. |
(b) | Derivative financial instruments are options written. Options written are shown at value. |
S C H E D U L E O F IN V E S T M E N T S | 123 |
BGR | CII | BDJ | BOE | |||||||||||||
ASSETS | ||||||||||||||||
Investments, at value — unaffiliated (a) | $ | 352,628,211 | $ | 808,808,268 | $ | 1,621,217,564 | $ | 715,228,389 | ||||||||
Investments, at value — affiliated (b) | 1,406,858 | 9,203,965 | 82,052,911 | 2,371,617 | ||||||||||||
Cash | 322,157 | 220,859 | 1,380,969 | — | ||||||||||||
Cash pledged: | ||||||||||||||||
Collateral — exchange-traded options written | — | — | — | 4,880,000 | ||||||||||||
Collateral — OTC derivatives | — | 50,000 | — | 26,000 | ||||||||||||
Foreign currency, at value (c) | 138,690 | — | 906 | 108,257 | ||||||||||||
Receivables: | ||||||||||||||||
Investments sold | 4,715,180 | 5,228,567 | 9,328,925 | 299,757 | ||||||||||||
Options written | 209,236 | 1,018,909 | 605,584 | 517,803 | ||||||||||||
Dividends — unaffiliated | 916,182 | 632,320 | 1,963,817 | 2,769,360 | ||||||||||||
Dividends — affiliated | 3,654 | 10,358 | 65,631 | 6,133 | ||||||||||||
Total assets | 360,340,168 | 825,173,246 | 1,716,616,307 | 726,207,316 | ||||||||||||
LIABILITIES | ||||||||||||||||
Bank overdraft | — | — | — | 94,288 | ||||||||||||
Options written, at value (d) | 2,083,915 | 8,671,931 | 15,848,170 | 6,470,808 | ||||||||||||
Payables: | ||||||||||||||||
Investments purchased | 696,021 | 1,482,827 | 7,253,162 | 7,691,695 | ||||||||||||
Accounting services fees | 25,509 | 28,395 | 54,469 | 34,200 | ||||||||||||
Capital shares redeemed | — | — | — | 318,497 | ||||||||||||
Custodian fees | 25,942 | 39,516 | 88,354 | 65,956 | ||||||||||||
Income dividend distributions | 73,762 | 239,043 | 338,008 | 152,363 | ||||||||||||
Investment advisory fees | 314,293 | 586,536 | 1,143,715 | 494,866 | ||||||||||||
Trustees’ and Officer’s fees | 399,001 | 215,794 | 877,565 | 617,126 | ||||||||||||
Options written | 20,721 | 153,727 | 27,738 | 177,247 | ||||||||||||
Other accrued expenses | 38,580 | 38,510 | 93,483 | 73,936 | ||||||||||||
Professional fees | 58,316 | 81,722 | 164,082 | 135,765 | ||||||||||||
Transfer agent fees | 29,991 | 34,352 | 75,877 | 41,543 | ||||||||||||
Other liabilities | 191,579 | — | — | — | ||||||||||||
Total liabilities | 3,957,630 | 11,572,353 | 25,964,623 | 16,368,290 | ||||||||||||
NET ASSETS | $ | 356,382,538 | $ | 813,600,893 | $ | 1,690,651,684 | $ | 709,839,026 | ||||||||
NET ASSETS CONSIST OF | ||||||||||||||||
Paid-in capital(e)(f)(g) | $ | 535,130,504 | $ | 561,558,505 | $ | 1,309,265,007 | $ | 713,456,233 | ||||||||
Accumulated earnings (loss) | (178,747,966 | ) | 252,042,388 | 381,386,677 | (3,617,207 | ) | ||||||||||
NET ASSETS | $ | 356,382,538 | $ | 813,600,893 | $ | 1,690,651,684 | $ | 709,839,026 | ||||||||
Net asset value (e)(f)(g) | $ | 12.51 | $ | 18.44 | $ | 9.09 | $ | 11.17 | ||||||||
(a) Investments, at cost — unaffiliated | $ | 245,104,027 | $ | 619,870,762 | $ | 1,464,188,211 | $ | 697,252,623 | ||||||||
(b) Investments, at cost — affiliated | $ | 1,406,858 | $ | 9,203,965 | $ | 82,052,911 | $ | 2,371,617 | ||||||||
(c) Foreign currency, at cost | $ | 138,405 | $ | — | $ | 1,035 | $ | 109,005 | ||||||||
(d) Premiums received | $ | 5,472,215 | $ | 11,579,401 | $ | 21,753,162 | $ | 7,763,333 | ||||||||
(e) Shares outstanding | 28,497,366 | 44,132,101 | 186,003,434 | 63,536,835 | ||||||||||||
(f) Shares authorized | Unlimited | 200 million | Unlimited | Unlimited | ||||||||||||
(g) Par value | $ | 0.001 | $ | 0.10 | $ | 0.001 | $ | 0.001 |
124 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BGY | BME | BMEZ | BIGZ | |||||||||||||
ASSETS | ||||||||||||||||
Investments, at value — unaffiliated (a)(b) | $ | 581,610,381 | $ | 540,528,222 | $ | 2,038,910,871 | $ | 2,244,340,386 | ||||||||
Investments, at value — affiliated (c) | 8,325,690 | 32,301,459 | 112,090,905 | 9,128,990 | ||||||||||||
Cash pledged: | ||||||||||||||||
Collateral — exchange-traded options written | 5,611,000 | — | — | — | ||||||||||||
Collateral — OTC derivatives | 355,000 | — | 36,000 | — | ||||||||||||
Foreign currency, at value (d) | 234,488 | 16,681 | 86,810 | 1,021 | ||||||||||||
Receivables: | ||||||||||||||||
Investments sold | 719 | 2,662,029 | (e) | 4,806 | — | |||||||||||
Options written | 352,480 | 282,858 | 369,515 | 400,311 | ||||||||||||
Securities lending income — affiliated | — | 2,421 | 22,691 | 5 | ||||||||||||
Capital shares sold | — | 250,269 | — | — | ||||||||||||
Dividends — unaffiliated | 2,902,640 | 538,374 | 751,056 | 432,773 | ||||||||||||
Dividends — affiliated | 9,329 | 27,644 | 84,575 | 24,255 | ||||||||||||
Deferred offering costs | — | 87,474 | — | — | ||||||||||||
Prepaid expenses | — | 10,822 | — | 3,760 | ||||||||||||
Total assets | 599,401,727 | 576,708,253 | 2,152,357,229 | 2,254,331,501 | ||||||||||||
LIABILITIES | ||||||||||||||||
Bank overdraft | 137,718 | 7,610 | 69,804 | 128,337 | ||||||||||||
Collateral on securities loaned | — | 588,915 | 6,858,153 | — | ||||||||||||
Options written, at value (f) | 5,937,531 | 6,201,260 | 19,713,887 | 9,846,179 | ||||||||||||
Payables: | ||||||||||||||||
Investments purchased | 720,487 | 2,684,421 | 388 | — | ||||||||||||
Accounting services fees | 28,395 | 16,825 | 184,476 | 36,283 | ||||||||||||
Capital shares redeemed | — | — | — | 2,588,971 | ||||||||||||
Custodian fees | 78,801 | 38,415 | 161,624 | 171,872 | ||||||||||||
Income dividend distributions | 171,946 | — | 3,109,671 | 2,748,304 | ||||||||||||
Investment advisory fees | 498,245 | 454,860 | 2,163,015 | 2,395,681 | ||||||||||||
Trustees’ and Officer’s fees | 522,587 | 32,057 | 133,204 | 106,769 | ||||||||||||
Options written | 135,771 | 522,448 | 85,920 | 96,406 | ||||||||||||
Other accrued expenses | 83,254 | 25,784 | 245,326 | 27,423 | ||||||||||||
Professional fees | 133,954 | 47,655 | 20,815 | 24,083 | ||||||||||||
Transfer agent fees | 39,294 | 27,074 | 63,533 | 82,272 | ||||||||||||
Total liabilities | 8,487,983 | 10,647,324 | 32,809,816 | 18,252,580 | ||||||||||||
NET ASSETS | $ | 590,913,744 | $ | 566,060,929 | $ | 2,119,547,413 | $ | 2,236,078,921 | ||||||||
NET ASSETS CONSIST OF | ||||||||||||||||
Paid-in capital(g)(h)(i) | $ | 604,107,672 | $ | 409,987,529 | $ | 2,243,866,545 | $ | 4,566,212,446 | ||||||||
Accumulated earnings (loss) | (13,193,928 | ) | 156,073,400 | (124,319,132 | ) | (2,330,133,525 | ) | |||||||||
NET ASSETS | $ | 590,913,744 | $ | 566,060,929 | $ | 2,119,547,413 | $ | 2,236,078,921 | ||||||||
Net asset value (g)(h)(i) | $ | 5.69 | $ | 41.95 | $ | 18.91 | $ | 9.48 | ||||||||
(a) Investments, at cost — unaffiliated | $ | 554,589,060 | $ | 390,761,723 | $ | 2,212,459,262 | $ | 3,143,847,570 | ||||||||
(b) Securities loaned, at value | $ | — | $ | 566,567 | $ | 6,706,992 | $ | — | ||||||||
(c) Investments, at cost — affiliated | $ | 8,325,690 | $ | 32,301,485 | $ | 112,224,197 | $ | 9,128,990 | ||||||||
(d) Foreign currency, at cost | $ | 236,064 | $ | 16,647 | $ | 86,021 | $ | 1,047 | ||||||||
(e) $1,767,466 is expected to be collected after December 31, 2022 | ||||||||||||||||
(f) Premiums received | $ | 6,072,338 | $ | 4,879,676 | $ | 16,177,632 | $ | 11,526,685 | ||||||||
(g) Shares outstanding | 103,847,663 | 13,493,047 | 112,083,890 | 235,796,174 | ||||||||||||
(h) Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited | ||||||||||||
(i) Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | $ | 0.001 |
F I N A N C I A L ST A T E M E N T S | 125 |
BCX | BST (a) | BSTZ (a) | BUI | |||||||||||||
ASSETS | ||||||||||||||||
Investments, at value — unaffiliated (b)(c) | $ | 858,728,857 | $ | 1,034,371,174 | $ | 1,737,127,606 | $ | 466,085,291 | ||||||||
Investments, at value — affiliated (d) | 25,116,689 | 49,223,180 | 107,146,639 | 14,917,788 | ||||||||||||
Cash | — | 41,743 | 18,625 | — | ||||||||||||
Cash pledged as collateral for OTC derivatives | — | 400,000 | 3,600,000 | 603,500 | ||||||||||||
Foreign currency, at value (e) | 33,952 | 12,921,931 | — | 71,670 | ||||||||||||
Receivables: | ||||||||||||||||
Investments sold | 4,890,982 | 1,614,258 | 7,336,979 | 219 | ||||||||||||
Options written | 600,685 | 240,640 | 680,614 | 160,668 | ||||||||||||
Securities lending income — affiliated | — | 241 | 35,132 | 1,355 | ||||||||||||
Dividends — unaffiliated | 2,252,922 | 122,427 | 130,270 | 1,295,447 | ||||||||||||
Dividends — affiliated | 22,187 | 40,714 | 63,387 | 11,748 | ||||||||||||
Due from broker | — | — | 510,000 | — | ||||||||||||
Deferred offering costs | — | 177,517 | — | 100,997 | ||||||||||||
Prepaid expenses | — | 27,433 | — | — | ||||||||||||
Total assets | 891,646,274 | 1,099,181,258 | 1,856,649,252 | 483,248,683 | ||||||||||||
LIABILITIES | ||||||||||||||||
Bank overdraft | 15,424 | — | — | 53,595 | ||||||||||||
Foreign bank overdraft (f) | — | — | 487,417 | — | ||||||||||||
Collateral on securities loaned | — | — | 4,921,030 | 529,383 | ||||||||||||
Options written, at value (g) | 3,865,208 | 4,802,220 | 13,353,619 | 3,245,148 | ||||||||||||
Payables: | ||||||||||||||||
Investments purchased | 7,535,688 | 12,921,016 | 23,723,853 | 115 | ||||||||||||
Accounting services fees | 34,203 | 28,395 | 189,339 | 28,395 | ||||||||||||
Custodian fees | 47,181 | 79,223 | 147,670 | 40,348 | ||||||||||||
Deferred capital gain tax | — | 732,470 | 5,543,618 | — | ||||||||||||
Income dividend distributions | 145,945 | 572,521 | 2,601,116 | — | ||||||||||||
Investment advisory fees | 796,877 | 940,993 | 1,985,948 | 405,584 | ||||||||||||
Offering costs | — | — | — | 3,505 | ||||||||||||
Trustees’ and Officer’s fees | 257,506 | 24,311 | 137,741 | 8,739 | ||||||||||||
Options written | 12,910 | 3,399 | 1,040 | 100,488 | ||||||||||||
Other accrued expenses | 154,284 | 91,870 | 366,411 | 118,836 | ||||||||||||
Professional fees | 114,454 | 39,973 | 230,163 | 48,093 | ||||||||||||
Transfer agent fees | 48,780 | 45,672 | 65,016 | 23,506 | ||||||||||||
Total liabilities | 13,028,460 | 20,282,063 | 53,753,981 | 4,605,735 | ||||||||||||
NET ASSETS | $ | 878,617,814 | $ | 1,078,899,195 | $ | 1,802,895,271 | $ | 478,642,948 | ||||||||
NET ASSETS CONSIST OF | ||||||||||||||||
Paid-in capital(h)(i)(j) | $ | 1,106,191,760 | $ | 795,779,092 | $ | 1,514,886,596 | $ | 392,606,910 | ||||||||
Accumulated earnings (loss) | (227,573,946 | ) | 283,120,103 | 288,008,675 | 86,036,038 | |||||||||||
NET ASSETS | $ | 878,617,814 | $ | 1,078,899,195 | $ | 1,802,895,271 | $ | 478,642,948 | ||||||||
Net asset value (h)(i)(j) | $ | 9.95 | $ | 33.61 | $ | 22.96 | $ | 21.66 | ||||||||
(a) Consolidated Statement of Assets and Liabilities. | ||||||||||||||||
(b) Investments, at cost — unaffiliated | $ | 749,620,553 | $ | 752,227,385 | $ | 1,369,301,675 | $ | 360,756,459 | ||||||||
(c) Securities loaned, at value | $ | — | $ | — | $ | 4,633,190 | $ | 505,064 | ||||||||
(d) Investments, at cost — affiliated | $ | 25,116,689 | $ | 49,223,180 | $ | 107,145,982 | $ | 14,917,841 | ||||||||
(e) Foreign currency, at cost | $ | 33,878 | $ | 12,921,777 | $ | — | $ | 71,669 | ||||||||
(f) Foreign bank overdraft, at cost | $ | — | $ | — | $ | 486,402 | $ | — | ||||||||
(g) Premiums received | $ | 10,340,170 | $ | 10,312,473 | $ | 19,442,641 | $ | 4,345,001 | ||||||||
(h) Shares outstanding | 88,315,994 | 32,098,789 | 78,538,036 | 22,101,468 | ||||||||||||
(i) Shares authorized | Unlimited | Unlimited | Unlimited | Unlimited | ||||||||||||
(j) Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | $ | 0.001 |
126 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BGR | CII | BDJ | BOE | |||||||||||||
INVESTMENT INCOME | ||||||||||||||||
Dividends — unaffiliated | $ | 8,047,580 | $ | 5,321,524 | $ | 23,720,170 | $ | 12,982,094 | ||||||||
Dividends — affiliated | 7,015 | 21,813 | 118,850 | 10,303 | ||||||||||||
Securities lending income — affiliated — net | — | — | 10 | — | ||||||||||||
Foreign withholding tax claims | — | — | — | 336,828 | ||||||||||||
Foreign taxes withheld | (385,582 | ) | (117,739 | ) | (727,379 | ) | (1,009,894 | ) | ||||||||
Total investment income | 7,669,013 | 5,225,598 | 23,111,651 | 12,319,331 | ||||||||||||
EXPENSES | ||||||||||||||||
Investment advisory | 2,221,477 | 3,795,359 | 7,370,926 | 3,917,580 | ||||||||||||
Transfer agent | 34,409 | 40,378 | 80,287 | 46,677 | ||||||||||||
Custodian | 24,585 | 37,069 | 67,583 | 57,349 | ||||||||||||
Accounting services | 21,845 | 24,296 | 46,641 | 29,276 | ||||||||||||
Registration | 4,583 | 7,107 | 17,618 | 10,073 | ||||||||||||
Professional | — | — | — | 84,921 | ||||||||||||
Trustees and Officer | (75,696 | ) | (10,735 | ) | (121,287 | ) | (90,051 | ) | ||||||||
Miscellaneous | 61,543 | 73,159 | 106,203 | 44,035 | ||||||||||||
Total expenses | 2,292,746 | 3,966,633 | 7,567,971 | 4,099,860 | ||||||||||||
Less: | ||||||||||||||||
Fees waived and/or reimbursed by the Manager | (408,317 | ) | (2,837 | ) | (14,166 | ) | (687,002 | ) | ||||||||
Total expenses after fees waived and/or reimbursed | 1,884,429 | 3,963,796 | 7,553,805 | 3,412,858 | ||||||||||||
Net investment income | 5,784,584 | 1,261,802 | 15,557,846 | 8,906,473 | ||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments — unaffiliated | 37,205,569 | 56,991,809 | 137,950,109 | 21,768,232 | ||||||||||||
Foreign currency transactions | (12,610 | ) | — | (125,347 | ) | (70,057 | ) | |||||||||
Options written | (22,929,880 | ) | 21,229,943 | 5,531,647 | 5,691,315 | |||||||||||
Payment by affiliate | — | — | 1,577 | — | ||||||||||||
14,263,079 | 78,221,752 | 143,357,986 | 27,389,490 | |||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments — unaffiliated | 35,394,774 | (218,520,320 | ) | (318,384,740 | ) | (157,774,977 | ) | |||||||||
Foreign currency translations | (17,091 | ) | — | (52,105 | ) | (65,324 | ) | |||||||||
Options written | 2,067,367 | 3,506,035 | 7,748,497 | 2,914,829 | ||||||||||||
37,445,050 | (215,014,285 | ) | (310,688,348 | ) | (154,925,472 | ) | ||||||||||
Net realized and unrealized gain (loss) | 51,708,129 | (136,792,533 | ) | (167,330,362 | ) | (127,535,982 | ) | |||||||||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $ | 57,492,713 | $ | (135,530,731 | ) | $ | (151,772,516 | ) | $ | (118,629,509 | ) | |||||
F I N A N C I A L ST A T E M E N T S | 127 |
BGY | BME | BMEZ | BIGZ | |||||||||||||
INVESTMENT INCOME | ||||||||||||||||
Dividends — unaffiliated | $ | 12,465,576 | $ | 3,773,765 | $ | 3,678,456 | $ | 1,815,168 | ||||||||
Dividends — affiliated | 13,794 | 58,372 | 167,503 | 32,878 | ||||||||||||
Securities lending income — affiliated — net | — | 6,274 | 102,720 | 3,961 | ||||||||||||
Other income — unaffiliated | 588 | — | — | — | ||||||||||||
Foreign withholding tax claims | 521,921 | — | — | — | ||||||||||||
Foreign taxes withheld | (1,366,286 | ) | (76,171 | ) | (236,587 | ) | (41,997 | ) | ||||||||
Total investment income | 11,635,593 | 3,762,240 | 3,712,092 | 1,810,010 | ||||||||||||
EXPENSES | ||||||||||||||||
Investment advisory | 3,239,639 | 2,863,985 | 14,850,320 | 17,996,067 | ||||||||||||
Professional | 107,551 | — | — | — | ||||||||||||
Custodian | 69,590 | 26,037 | 116,045 | 129,755 | ||||||||||||
Transfer agent | 43,859 | 34,221 | 74,904 | 45,522 | ||||||||||||
Accounting services | 24,296 | 14,408 | 131,878 | 168,322 | ||||||||||||
Registration | 16,548 | 5,781 | 33,753 | 55,439 | ||||||||||||
Trustees and Officer | (75,935 | ) | 11,247 | 49,489 | 81,850 | |||||||||||
Miscellaneous | 41,746 | 78,661 | 355,770 | 641,143 | ||||||||||||
Total expenses | 3,467,294 | 3,034,340 | 15,612,159 | 19,118,098 | ||||||||||||
Less: | ||||||||||||||||
Fees waived and/or reimbursed by the Manager | (275,753 | ) | (7,222 | ) | (20,437 | ) | (2,696 | ) | ||||||||
Total expenses after fees waived and/or reimbursed | 3,191,541 | 3,027,118 | 15,591,722 | 19,115,402 | ||||||||||||
Net investment income (loss) | 8,444,052 | 735,122 | (11,879,630 | ) | (17,305,392 | ) | ||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments — unaffiliated | 15,005,251 | (a) | 11,038,395 | (23,637,929 | ) | (1,065,174,072 | ) | |||||||||
Investments — affiliated | — | (184 | ) | (1,164 | ) | (58,512,005 | ) | |||||||||
Foreign currency transactions | (68,840 | ) | 665 | (205,461 | ) | 33,433 | ||||||||||
Options written | 935,870 | 6,064,252 | 40,270,755 | 44,408,727 | ||||||||||||
15,872,281 | 17,103,128 | 16,426,201 | (1,079,243,917 | ) | ||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments — unaffiliated | (121,947,468 | ) (b) | (82,531,395 | ) | (757,500,275 | ) | (532,389,854 | ) | ||||||||
Investments — affiliated | — | (18 | ) | (54,322 | ) | 44,486,400 | ||||||||||
Foreign currency translations | (88,542 | ) | (5,587 | ) | (34,075 | ) | (675 | ) | ||||||||
Options written | 2,361,202 | 2,413,383 | (1,866,111 | ) | (4,733,943 | ) | ||||||||||
(119,674,808 | ) | (80,123,617 | ) | (759,454,783 | ) | (492,638,072 | ) | |||||||||
Net realized and unrealized loss | (103,802,527 | ) | (63,020,489 | ) | (743,028,582 | ) | (1,571,881,989 | ) | ||||||||
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS | $ | (95,358,475 | ) | $ | (62,285,367 | ) | $ | (754,908,212 | ) | $ | (1,589,187,381 | ) | ||||
(a) Net of foreign capital gain tax and capital gain tax refund, if applicable of | $ | 368,770 | $ | — | $ | — | $ | — | ||||||||
(b) Net of reduction in deferred foreign capital gain tax of | $ | 231,371 | $ | — | $ | — | $ | — |
128 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BCX | BST (a) | BSTZ (a) | BUI | |||||||||||||
INVESTMENT INCOME | ||||||||||||||||
Dividends — unaffiliated | $ | 19,041,147 | $ | 1,680,806 | $ | 1,800,819 | $ | 7,413,424 | ||||||||
Dividends — affiliated | 39,871 | 70,631 | 114,104 | 20,337 | ||||||||||||
Interest — unaffiliated | 39,629 | — | — | — | ||||||||||||
Securities lending income — affiliated — net | — | 18,028 | 161,102 | 1,355 | ||||||||||||
Non-cash dividends — unaffiliated | — | — | — | 485,363 | ||||||||||||
Other income — unaffiliated | 58 | — | — | — | ||||||||||||
Foreign withholding tax claims | 16,193 | — | — | — | ||||||||||||
Foreign taxes withheld | (935,301 | ) | (60,250 | ) | (155,435 | ) | (460,515 | ) | ||||||||
Total investment income | 18,201,597 | 1,709,215 | 1,920,590 | 7,459,964 | ||||||||||||
EXPENSES | ||||||||||||||||
Investment advisory | 4,894,235 | 6,699,043 | 14,401,630 | 2,596,569 | ||||||||||||
Transfer agent | 59,599 | 59,654 | 77,291 | 31,809 | ||||||||||||
Professional | 48,654 | — | — | — | ||||||||||||
Custodian | 43,043 | 59,627 | 116,780 | 35,872 | ||||||||||||
Accounting services | 29,275 | 24,296 | 138,789 | 24,296 | ||||||||||||
Registration | 13,785 | 10,884 | 12,210 | 7,593 | ||||||||||||
Offering | — | — | — | 3,295 | ||||||||||||
Trustees and Officer | (19,469 | ) | 38,423 | 49,054 | 14,662 | |||||||||||
Miscellaneous | 56,634 | 265,494 | 489,220 | 80,570 | ||||||||||||
Total expenses | 5,125,756 | 7,157,421 | 15,284,974 | 2,794,666 | ||||||||||||
Less: | ||||||||||||||||
Fees waived and/or reimbursed by the Manager | (4,966 | ) | (8,317 | ) | (12,846 | ) | (2,328 | ) | ||||||||
Total expenses after fees waived and/or reimbursed | 5,120,790 | 7,149,104 | 15,272,128 | 2,792,338 | ||||||||||||
Net investment income (loss) | 13,080,807 | (5,439,889 | ) | (13,351,538 | ) | 4,667,626 | ||||||||||
REALIZED AND UNREALIZED GAIN (LOSS) | ||||||||||||||||
Net realized gain (loss) from: | ||||||||||||||||
Investments — unaffiliated | 152,075,729 | 4,727,011 | 31,113,478 | 9,226,078 | ||||||||||||
Investments — affiliated | — | (335 | ) | 918 | (9 | ) | ||||||||||
Foreign currency transactions | (156,384 | ) | 9,077 | (171,301 | ) | (27,872 | ) | |||||||||
Options written | (40,509,948 | ) | 43,628,929 | 74,585,111 | 4,135,012 | |||||||||||
111,409,397 | 48,364,682 | 105,528,206 | 13,333,209 | |||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||
Investments — unaffiliated | (132,496,060 | ) | (597,366,933 | ) (b) | (1,246,829,382 | ) (b) | (96,629,197 | ) | ||||||||
Investments — affiliated | — | — | 657 | (53 | ) | |||||||||||
Foreign currency translations | (46,071 | ) | 2,281 | (843 | ) | (42,601 | ) | |||||||||
Options written | 7,850,011 | (274,650 | ) | (937,621 | ) | 2,305,388 | ||||||||||
(124,692,120 | ) | ( 597,639,302 | ) | (1,247,767,189 | ) | (94,366,463 | ) | |||||||||
Net realized and unrealized loss | (13,282,723 | ) | (549,274,620 | ) | (1,142,238,983 | ) | (81,033,254 | ) | ||||||||
NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS | $ | (201,916 | ) | $ | (554,714,509 | ) | $ | (1,155,590,521 | ) | $ | (76,365,628 | ) | ||||
(a) Consolidated Statement of Operations. | ||||||||||||||||
(b) Net of reduction in/(increase in) deferred capital gain tax of | $ | — | $ | 708,764 | $ | (73,396 | ) | $ | — |
F I N A N C I A L ST A T E M E N T S | 129 |
BGR | CII | |||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended 12/31/21 | Six Months Ended 06/30/22 (unaudited) | Year Ended 12/31/21 | |||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||
OPERATIONS | ||||||||||||||||
Net investment income | $ | 5,784,584 | $ | 8,259,703 | $ | 1,261,802 | $ | 1,953,464 | ||||||||
Net realized gain (loss) | 14,263,079 | (18,995,472 | ) | 78,221,752 | 70,684,499 | |||||||||||
Net change in unrealized appreciation (depreciation) | 37,445,050 | 99,469,573 | (215,014,285 | ) | 107,574,675 | |||||||||||
Net increase (decrease) in net assets resulting from operations | 57,492,713 | 88,733,804 | (135,530,731 | ) | 180,212,638 | |||||||||||
DISTRIBUTIONS TO SHAREHOLDERS (a) | ||||||||||||||||
From net investment income and net realized gain | (7,392,254 | ) (b) | (8,262,936 | ) | (26,346,881 | ) | (48,643,844 | ) | ||||||||
Return of capital | — | (4,835,876 | ) | — | — | |||||||||||
Decrease in net assets resulting from distributions to shareholders | (7,392,254 | ) | (13,098,812 | ) | (26,346,881 | ) | (48,643,844 | ) | ||||||||
CAPITAL SHARE TRANSACTIONS | ||||||||||||||||
Reinvestment of distributions | — | — | — | 236,509 | ||||||||||||
Redemption of shares resulting from share repurchase program (including transaction costs) | (7,221,391 | ) | — | — | — | |||||||||||
Net increase (decrease) in net assets derived from capital share transactions | (7,221,391 | ) | — | — | 236,509 | |||||||||||
NET ASSETS | ||||||||||||||||
Total increase (decrease) in net assets | 42,879,068 | 75,634,992 | (161,877,612 | ) | 131,805,303 | |||||||||||
Beginning of period | 313,503,470 | 237,868,478 | 975,478,505 | 843,673,202 | ||||||||||||
End of period | $ | 356,382,538 | $ | 313,503,470 | $ | 813,600,893 | $ | 975,478,505 | ||||||||
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(b) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
130 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BDJ | BOE | |||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended 12/31/21 | Six Months Ended 06/30/22 (unaudited) | Year Ended 12/31/21 | |||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||
OPERATIONS | ||||||||||||||||
Net investment income | $ | 15,557,846 | $ | 27,412,185 | $ | 8,906,473 | $ | 12,147,742 | ||||||||
Net realized gain | 143,357,986 | 226,450,882 | 27,389,490 | 64,174,290 | ||||||||||||
Net change in unrealized appreciation (depreciation) | (310,688,348 | ) | 71,456,248 | (154,925,472 | ) | 43,778,131 | ||||||||||
Net increase (decrease) in net assets resulting from operations | (151,772,516 | ) | 325,319,315 | (118,629,509 | ) | 120,100,163 | ||||||||||
DISTRIBUTIONS TO SHAREHOLDERS (a) | ||||||||||||||||
Decrease in net assets resulting from distributions to shareholders | (60,413,916 | ) | (161,603,504 | ) | (24,171,158 | ) | (48,404,308 | ) | ||||||||
CAPITAL SHARE TRANSACTIONS | ||||||||||||||||
Redemption of shares resulting from share repurchase program (including transaction costs) | — | — | (5,080,918 | ) | (205,246 | ) | ||||||||||
NET ASSETS | ||||||||||||||||
Total increase (decrease) in net assets | (212,186,432 | ) | 163,715,811 | (147,881,585 | ) | 71,490,609 | ||||||||||
Beginning of period | 1,902,838,116 | 1,739,122,305 | 857,720,611 | 786,230,002 | ||||||||||||
End of period | $ | 1,690,651,684 | $ | 1,902,838,116 | $ | 709,839,026 | $ | 857,720,611 | ||||||||
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
F I N A N C I A L ST A T E M E N T S | 131 |
BGY | BME | |||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended 12/31/21 | Six Months Ended 06/30/22 (unaudited) | Year Ended 12/31/21 | |||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||
OPERATIONS | ||||||||||||||||
Net investment income | $ | 8,444,052 | $ | 9,366,746 | $ | 735,122 | $ | 41,823 | ||||||||
Net realized gain | 15,872,281 | 45,489,816 | 17,103,128 | 46,771,259 | ||||||||||||
Net change in unrealized appreciation (depreciation) | (119,674,808 | ) | 19,983,472 | (80,123,617 | ) | 12,306,248 | ||||||||||
Net increase (decrease) in net assets resulting from operations | (95,358,475 | ) | 74,840,034 | (62,285,367 | ) | 59,119,330 | ||||||||||
DISTRIBUTIONS TO SHAREHOLDERS (a) | ||||||||||||||||
From net investment income and net realized gain | (21,120,139 | ) (b) | (30,180,220 | ) | (16,909,995 | ) | (30,764,942 | ) | ||||||||
Return of capital | — | (12,098,701 | ) | — | — | |||||||||||
Decrease in net assets resulting from distributions to shareholders | (21,120,139 | ) | (42,278,921 | ) | (16,909,995 | ) | (30,764,942 | ) | ||||||||
CAPITAL SHARE TRANSACTIONS | ||||||||||||||||
Net proceeds from the issuance of shares | — | — | 18,653,247 | 49,710,285 | ||||||||||||
Reinvestment of distributions | — | — | 828,233 | 1,760,978 | ||||||||||||
Redemption of shares resulting from share repurchase program (including transaction costs) | (2,117,512 | ) | — | — | — | |||||||||||
Net increase (decrease) in net assets derived from capital share transactions | (2,117,512 | ) | — | 19,481,480 | 51,471,263 | |||||||||||
Capital contribution from affiliate | — | — | — | 12,661 | ||||||||||||
NET ASSETS | ||||||||||||||||
Total increase (decrease) in net assets | (118,596,126 | ) | 32,561,113 | (59,713,882 | ) | 79,838,312 | ||||||||||
Beginning of period | 709,509,870 | 676,948,757 | 625,774,811 | 545,936,499 | ||||||||||||
End of period | $ | 590,913,744 | $ | 709,509,870 | $ | 566,060,929 | $ | 625,774,811 | ||||||||
(a) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(b) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
132 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BMEZ | BIGZ | |||||||||||||||
| Six Months Ended 06/30/22 (unaudited | ) | | Year Ended 12/31/21 | | | Six Months Ended 06/30/22 (unaudited | ) | | Period from 03/29/21 to 12/31/21 | (a) | |||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||
OPERATIONS | ||||||||||||||||
Net investment loss | $ | (11,879,630 | ) | $ | (36,221,355 | ) | $ | (17,305,392 | ) | $ | (35,735,376 | ) | ||||
Net realized gain (loss) | 16,426,201 | 370,126,396 | (1,079,243,917 | ) | (199,723,871 | ) | ||||||||||
Net change in unrealized appreciation (depreciation) | (759,454,783 | ) | (621,751,428 | ) | (492,638,072 | ) | (405,188,632 | ) | ||||||||
Net decrease in net assets resulting from operations | (754,908,212 | ) | (287,846,387 | ) | (1,589,187,381 | ) | (640,647,879 | ) | ||||||||
DISTRIBUTIONS TO SHAREHOLDERS (b) | ||||||||||||||||
From net investment income and net realized gain | (97,900,689 | ) | (192,905,388 | ) | (135,581,361 | ) (c) | — | |||||||||
Return of capital | — | — | — | (170,149,458 | ) | |||||||||||
Decrease in net assets resulting from distributions to shareholders | (97,900,689 | ) | (192,905,388 | ) | (135,581,361 | ) | (170,149,458 | ) | ||||||||
CAPITAL SHARE TRANSACTIONS | ||||||||||||||||
Net proceeds from the issuance of shares | — | — | — | 4,861,848,440 | ||||||||||||
Reinvestment of distributions | — | — | — | 4,569,561 | ||||||||||||
Redemption of shares resulting from share repurchase program (including transaction costs) | (9,529,955 | ) | — | (20,804,846 | ) | (74,068,155 | ) | |||||||||
Net increase (decrease) in net assets derived from capital share transactions | (9,529,955 | ) | — | (20,804,846 | ) | 4,792,349,846 | ||||||||||
NET ASSETS | ||||||||||||||||
Total increase (decrease) in net assets | (862,338,856 | ) | (480,751,775 | ) | (1,745,573,588 | ) | 3,981,552,509 | |||||||||
Beginning of period | 2,981,886,269 | 3,462,638,044 | 3,981,652,509 | 100,000 | ||||||||||||
End of period | $ | 2,119,547,413 | $ | 2,981,886,269 | $ | 2,236,078,921 | $ | 3,981,652,509 | ||||||||
(a) | Commencement of operations. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
F I N A N C I A L ST A T E M E N T S | 133 |
BCX | BST (a) | |||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended 12/31/21 | Six Months Ended 06/30/22 (unaudited) | Year Ended 12/31/21 | |||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||
OPERATIONS | ||||||||||||||||
Net investment income (loss) | $ | 13,080,807 | $ | 25,955,087 | $ | (5,439,889 | ) | $ | (12,070,576 | ) | ||||||
Net realized gain | 111,409,397 | 56,049,452 | 48,364,682 | 148,321,617 | ||||||||||||
Net change in unrealized appreciation (depreciation) | (124,692,120 | ) | 115,553,664 | (597,639,302 | ) | (287,749 | ) | |||||||||
Net increase (decrease) in net assets resulting from operations | (201,916 | ) | 197,558,203 | (554,714,509 | ) | 135,963,292 | ||||||||||
DISTRIBUTIONS TO SHAREHOLDERS (b) | ||||||||||||||||
From net investment income and net realized gain | (22,962,159 | ) (c) | (33,607,537 | ) | (48,128,911 | ) | (126,451,369 | ) | ||||||||
Return of capital | — | (8,784,140 | ) | — | — | |||||||||||
Decrease in net assets resulting from distributions to shareholders | (22,962,159 | ) | (42,391,677 | ) | (48,128,911 | ) | (126,451,369 | ) | ||||||||
CAPITAL SHARE TRANSACTIONS | ||||||||||||||||
Net proceeds from the issuance of shares | — | — | — | 12,814,651 | ||||||||||||
Proceeds from rights offering (Note 10) | — | — | — | 359,278,213 | ||||||||||||
Reinvestment of distributions | — | — | 576,177 | 2,217,548 | ||||||||||||
Net increase in net assets derived from capital share transactions | — | — | 576,177 | 374,310,412 | ||||||||||||
NET ASSETS | ||||||||||||||||
Total increase (decrease) in net assets | (23,164,075 | ) | 155,166,526 | (602,267,243 | ) | 383,822,335 | ||||||||||
Beginning of period | 901,781,889 | 746,615,363 | 1,681,166,438 | 1,297,344,103 | ||||||||||||
End of period | $ | 878,617,814 | $ | 901,781,889 | $ | 1,078,899,195 | $ | 1,681,166,438 | ||||||||
(a) | Consolidated Statement of Changes in Net Assets. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
134 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BSTZ (a) | BUI | |||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended 12/31/21 | Six Months Ended 06/30/22 (unaudited) | Year Ended 12/31/21 | |||||||||||||||||
INCREASE (DECREASE) IN NET ASSETS | ||||||||||||||||||||
OPERATIONS | ||||||||||||||||||||
Net investment income (loss) | $ | (13,351,538 | ) | $ | (40,100,308 | ) | $ | 4,667,626 | $ | 4,908,839 | ||||||||||
Net realized gain | 105,528,206 | 258,715,033 | 13,333,209 | 10,994,095 | ||||||||||||||||
Net change in unrealized appreciation (depreciation) | (1,247,767,189 | ) | 29,935,008 | (94,366,463 | ) | 53,132,360 | ||||||||||||||
Net increase (decrease) in net assets resulting from operations | (1,155,590,521 | ) | 248,549,733 | (76,365,628 | ) | 69,035,294 | ||||||||||||||
DISTRIBUTIONS TO SHAREHOLDERS (b) | ||||||||||||||||||||
From net investment income and net realized gain | (90,475,840 | ) | (240,726,364 | ) | (15,992,324 | ) (c) | (20,325,579 | ) | ||||||||||||
Return of capital | — | — | — | (9,081,858 | ) | |||||||||||||||
Decrease in net assets resulting from distributions to shareholders | (90,475,840 | ) | (240,726,364 | ) | (15,992,324 | ) | (29,407,437 | ) | ||||||||||||
CAPITAL SHARE TRANSACTIONS | ||||||||||||||||||||
Net proceeds from the issuance of shares | — | — | 10,628,517 | 74,073,395 | ||||||||||||||||
Reinvestment of distributions | — | 17,394,255 | 567,690 | 1,577,468 | ||||||||||||||||
Net increase in net assets derived from capital share transactions | — | 17,394,255 | 11,196,207 | 75,650,863 | ||||||||||||||||
NET ASSETS | ||||||||||||||||||||
Total increase (decrease) in net assets | (1,246,066,361 | ) | 25,217,624 | (81,161,745 | ) | 115,278,720 | ||||||||||||||
Beginning of period | 3,048,961,632 | 3,023,744,008 | 559,804,693 | 444,525,973 | ||||||||||||||||
End of period | $ | 1,802,895,271 | $ | 3,048,961,632 | $ | 478,642,948 | $ | 559,804,693 | ||||||||||||
(a) | Consolidated Statement of Changes in Net Assets. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
F I N A N C I A L ST A T E M E N T S | 135 |
BGR | CII | BDJ | BOE | |||||||||||||
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES | ||||||||||||||||
Net increase (decrease) in net assets resulting from operations | $ | 57,492,713 | $ | (135,530,731 | ) | $ | (151,772,516 | ) | $ | (118,629,509 | ) | |||||
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by operating activities: | ||||||||||||||||
Proceeds from sales of long-term investments | 169,079,153 | 132,706,386 | 533,285,410 | 174,141,594 | ||||||||||||
Purchases of long-term investments | (140,016,386 | ) | (129,182,694 | ) | (468,896,715 | ) | (166,701,962 | ) | ||||||||
Net proceeds from sales (purchases) of short-term securities | 1,318,422 | 1,093,788 | (19,790,896 | ) | 8,890,977 | |||||||||||
Premiums paid on closing options written | (42,444,928 | ) | (27,310,614 | ) | (96,586,121 | ) | (26,652,876 | ) | ||||||||
Premiums received from options written | 21,503,615 | 47,779,932 | 99,668,216 | 31,588,705 | ||||||||||||
Net realized gain on investments and options written | (14,252,911 | ) | (78,221,752 | ) | (143,481,684 | ) | (27,446,728 | ) | ||||||||
Net unrealized (appreciation) depreciation on investments, options written and foreign currency translations | (37,462,141 | ) | 215,014,285 | 310,636,243 | 154,860,148 | |||||||||||
(Increase) Decrease in Assets | ||||||||||||||||
Receivables | ||||||||||||||||
Dividends — affiliated | (3,636 | ) | (10,317 | ) | (65,305 | ) | (6,071 | ) | ||||||||
Dividends — unaffiliated | (317,312 | ) | (157,126 | ) | 248,427 | (1,214,915 | ) | |||||||||
Increase (Decrease) in Liabilities | ||||||||||||||||
Payables | ||||||||||||||||
Accounting services fees | 14,508 | 16,125 | 30,969 | 19,439 | ||||||||||||
Custodian fees | 16,441 | 32,714 | 43,647 | 39,247 | ||||||||||||
Investment advisory fees | 57,214 | (103,997 | ) | (137,924 | ) | (92,551 | ) | |||||||||
Trustees’ and Officer’s fees | (208,193 | ) | (91,886 | ) | (431,962 | ) | (281,689 | ) | ||||||||
Other accrued expenses | 11,926 | 13,852 | 39,018 | 27,194 | ||||||||||||
Professional fees | (10,669 | ) | (23,460 | ) | (32,343 | ) | 8,432 | |||||||||
Transfer agent fees | 18,402 | 20,692 | 42,172 | 23,623 | ||||||||||||
Other liabilities | 191,579 | — | — | — | ||||||||||||
Net cash provided by operating activities | 14,987,797 | 26,045,197 | 62,798,636 | 28,573,058 | ||||||||||||
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES | ||||||||||||||||
Cash dividends paid to shareholders | (7,376,474 | ) | (26,107,838 | ) | (62,014,631 | ) | (24,160,847 | ) | ||||||||
Net payments on redemption of capital shares including change in redemptions payable | (7,221,391 | ) | — | — | (4,762,421 | ) | ||||||||||
Increase in bank overdraft | — | — | — | 94,288 | ||||||||||||
Net cash used for financing activities | (14,597,865 | ) | (26,107,838 | ) | (62,014,631 | ) | (28,828,980 | ) | ||||||||
CASH IMPACT FROM FOREIGN EXCHANGE FLUCTUATIONS | ||||||||||||||||
Cash impact from foreign exchange fluctuations | (4 | ) | — | (62 | ) | (746 | ) | |||||||||
CASH AND FOREIGN CURRENCY | ||||||||||||||||
Net increase (decrease) in restricted and unrestricted cash and foreign currency | 389,928 | (62,641 | ) | 783,943 | (256,668 | ) | ||||||||||
Restricted and unrestricted cash and foreign currency at beginning of period | 70,919 | 333,500 | 597,932 | 5,270,925 | ||||||||||||
Restricted and unrestricted cash and foreign currency at end of period | $ | 460,847 | $ | 270,859 | $ | 1,381,875 | $ | 5,014,257 | ||||||||
RECONCILIATION OF RESTRICTED AND UNRESTRICTED CASH AND FOREIGN CURRENCY AT THE END OF PERIOD TO THE STATEMENTS OF ASSETS AND LIABILITIES | ||||||||||||||||
Cash | $ | 322,157 | $ | 220,859 | $ | 1,380,969 | $ | — | ||||||||
Cash pledged | ||||||||||||||||
Collateral — exchange-traded options written | — | — | — | 4,880,000 | ||||||||||||
Collateral — OTC derivatives | — | 50,000 | — | 26,000 | ||||||||||||
Foreign currency at value | 138,690 | — | 906 | 108,257 | ||||||||||||
$ | 460,847 | $ | 270,859 | $ | 1,381,875 | $ | 5,014,257 | |||||||||
136 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BGY | BME | BMEZ | BIGZ | |||||||||||||
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES | ||||||||||||||||
Net decrease in net assets resulting from operations | $ | (95,358,475 | ) | $ | (62,285,367 | ) | $ | (754,908,212 | ) | $ | (1,589,187,381 | ) | ||||
Adjustments to reconcile net decrease in net assets resulting from operations to net cash provided by (used for) operating activities: | ||||||||||||||||
Proceeds from sales of long-term investments | 158,128,543 | 156,379,142 | 956,593,402 | 931,585,106 | ||||||||||||
Purchases of long-term investments | (138,199,793 | ) | (160,524,253 | ) | (849,499,299 | ) | (776,074,628 | ) | ||||||||
Net purchases of short-term securities | (2,739,450 | ) | (4,508,857 | ) | (22,145,462 | ) | (2,089,501 | ) | ||||||||
Premiums paid on closing options written | (24,170,117 | ) | (16,285,452 | ) | (34,219,786 | ) | (8,991,154 | ) | ||||||||
Premiums received from options written | 24,819,327 | 21,689,552 | 69,037,027 | 47,336,334 | ||||||||||||
Net realized (gain) loss on investments and options written | (15,928,917 | ) | (17,071,643 | ) | (16,619,035 | ) | 1,079,277,381 | |||||||||
Net unrealized depreciation on investments, options written and foreign currency translations | 119,817,637 | 80,118,030 | 759,420,708 | 492,637,397 | ||||||||||||
(Increase) Decrease in Assets | ||||||||||||||||
Receivables | ||||||||||||||||
Dividends — affiliated | (9,288 | ) | (27,499 | ) | (84,422 | ) | (24,233 | ) | ||||||||
Dividends — unaffiliated | (1,364,028 | ) | (98,727 | ) | 8,124 | 26,943 | ||||||||||
From the Manager | — | 12,661 | — | — | ||||||||||||
Securities lending income — affiliated | — | (963 | ) | (6,125 | ) | 2,389 | ||||||||||
Prepaid expenses | — | (10,822 | ) | 48,373 | 86,057 | |||||||||||
Deferred offering costs | — | 4,027 | — | — | ||||||||||||
Increase (Decrease) in Liabilities | ||||||||||||||||
Collateral on securities loaned | — | 377,343 | 1,917,516 | (5,206,475 | ) | |||||||||||
Payables | ||||||||||||||||
Accounting services fees | 16,125 | 9,571 | 81,250 | (103,824 | ) | |||||||||||
Custodian fees | 48,745 | 17,570 | 72,282 | 101,210 | ||||||||||||
Deferred capital gain tax | (231,371 | ) | — | — | — | |||||||||||
Federal income tax | — | (12,114 | ) | — | — | |||||||||||
Investment advisory fees | (30,895 | ) | (61,192 | ) | (935,653 | ) | (1,877,558 | ) | ||||||||
Trustees’ and Officer’s fees | (239,525 | ) | 380 | 3,366 | 47,174 | |||||||||||
Other accrued expenses | 31,368 | (8,953 | ) | 45,034 | (19,486 | ) | ||||||||||
Professional fees | 25,762 | (21,761 | ) | (13,882 | ) | 12,602 | ||||||||||
Transfer agent fees | 22,988 | 16,614 | 42,871 | 136 | ||||||||||||
Net cash provided by (used for) operating activities | 24,638,636 | (2,292,713 | ) | 108,838,077 | 167,538,489 | |||||||||||
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES | ||||||||||||||||
Cash dividends paid to shareholders | (21,110,237 | ) | (16,081,762 | ) | (99,411,772 | ) | (137,147,448 | ) | ||||||||
Payments for offering costs | — | (20,427 | ) | — | — | |||||||||||
Net payments on redemption of capital shares including change in redemptions payable | (2,117,512 | ) | — | (9,529,955 | ) | (30,409,647 | ) | |||||||||
Increase (decrease) in bank overdraft | 137,718 | 7,610 | 69,804 | (11,441 | ) | |||||||||||
Proceeds from issuance of capital shares | — | 18,402,978 | — | — | ||||||||||||
Net cash provided by (used for) for financing activities | (23,090,031 | ) | 2,308,399 | (108,871,923 | ) | (167,568,536 | ) | |||||||||
CASH IMPACT FROM FOREIGN EXCHANGE FLUCTUATIONS | ||||||||||||||||
Cash impact from foreign exchange fluctuations | (1,949 | ) | 35 | 773 | (33 | ) | ||||||||||
CASH AND FOREIGN CURRENCY | ||||||||||||||||
Net increase (decrease) in restricted and unrestricted cash and foreign currency | 1,546,656 | 15,721 | (33,073 | ) | (30,080 | ) | ||||||||||
Restricted and unrestricted cash and foreign currency at beginning of period | 4,653,832 | 960 | 155,883 | 31,101 | ||||||||||||
Restricted and unrestricted cash and foreign currency at end of period | $ | 6,200,488 | $ | 16,681 | $ | 122,810 | $ | 1,021 | ||||||||
NON-CASH FINANCING ACTIVITIES | ||||||||||||||||
Reinvestment of distributions | $ | — | $ | 828,233 | $ | — | $ | — | ||||||||
F I N A N C I A L ST A T E M E N T S | 137 |
BGY | BME | BMEZ | BIGZ | |||||||||||||
RECONCILIATION OF RESTRICTED AND UNRESTRICTED CASH AND FOREIGN CURRENCY AT THE END OF PERIOD TO THE STATEMENTS OF ASSETS AND LIABILITIES | ||||||||||||||||
Cash pledged | ||||||||||||||||
Collateral — exchange-traded options written | $ | 5,611,000 | $ | — | $ | — | $ | — | ||||||||
Collateral — OTC derivatives | 355,000 | — | 36,000 | — | ||||||||||||
Foreign currency at value | 234,488 | 16,681 | 86,810 | 1,021 | ||||||||||||
$ | 6,200,488 | $ | 16,681 | $ | 122,810 | $ | 1,021 | |||||||||
138 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BCX | BST (a) | BSTZ (a) | BUI | |||||||||||||
CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES | ||||||||||||||||
Net decrease in net assets resulting from operations | $ | (201,916 | ) | $ | (554,714,509 | ) | $ | (1,155,590,521 | ) | $ | (76,365,628 | ) | ||||
Adjustments to reconcile net decrease in net assets resulting from operations to net cash provided by operating activities: | ||||||||||||||||
Proceeds from sales of long-term investments | 489,272,893 | 279,277,075 | 543,229,159 | 94,452,834 | ||||||||||||
Purchases of long-term investments | (433,429,812 | ) | (242,874,215 | ) | (456,508,918 | ) | (91,943,048 | ) | ||||||||
Net purchases of short-term securities | (8,462,376 | ) | (5,808,246 | ) | (58,279,912 | ) | (7,007,718 | ) | ||||||||
Premiums paid on closing options written | (83,079,702 | ) | (10,759,648 | ) | (23,894,734 | ) | (13,606,700 | ) | ||||||||
Premiums received from options written | 44,485,294 | 49,061,212 | 90,245,972 | 17,626,383 | ||||||||||||
Net realized gain on investments and options written | (109,914,300 | ) | (48,188,694 | ) | (105,700,486 | ) | (13,362,149 | ) | ||||||||
Net unrealized depreciation on investments, options written and foreign currency translations | 124,646,049 | 598,350,347 | 1,247,692,950 | 94,323,862 | ||||||||||||
(Increase) Decrease in Assets | ||||||||||||||||
Receivables | ||||||||||||||||
Dividends — affiliated | (22,122 | ) | (40,427 | ) | (62,939 | ) | (11,716 | ) | ||||||||
Dividends — unaffiliated | (553,580 | ) | 63,063 | 90,093 | (365,257 | ) | ||||||||||
Securities lending income — affiliated | — | 41,692 | (28,699 | ) | (1,355 | ) | ||||||||||
Prepaid expenses | — | (22,220 | ) | — | — | |||||||||||
Deferred offering costs | — | — | — | (85,329 | ) | |||||||||||
Increase (Decrease) in Liabilities | ||||||||||||||||
Collateral on securities loaned | — | (841,775 | ) | 2,971,824 | 529,383 | |||||||||||
Payables | ||||||||||||||||
Accounting services fees | 19,437 | 16,125 | 87,018 | 16,125 | ||||||||||||
Custodian fees | 29,280 | 35,763 | 79,956 | 24,280 | ||||||||||||
Deferred capital gain tax | — | (708,764 | ) | 73,396 | — | |||||||||||
Investment advisory fees | 53,077 | (433,600 | ) | (1,271,985 | ) | (56,327 | ) | |||||||||
Trustees’ and Officer’s fees | (103,066 | ) | 17,058 | 1,401 | 6,669 | |||||||||||
Other accrued expenses | 22,110 | 9,079 | 47,870 | 33,638 | ||||||||||||
Professional fees | (5,467 | ) | (43,381 | ) | 22,058 | (16,625 | ) | |||||||||
Transfer agent fees | 32,512 | 29,100 | 43,704 | 14,644 | ||||||||||||
Net cash provided by operating activities | 22,788,311 | 62,465,035 | 83,247,207 | 4,205,966 | ||||||||||||
CASH PROVIDED BY (USED FOR) FINANCING ACTIVITIES | ||||||||||||||||
Cash dividends paid to shareholders | (22,941,193 | ) | (51,006,359 | ) | (87,874,724 | ) | (15,424,634 | ) | ||||||||
Payments for offering costs | — | (4,000 | ) | — | (23,883 | ) | ||||||||||
Increase (decrease) in bank overdraft | (170,513 | ) | — | 487,417 | 53,595 | |||||||||||
Proceeds from issuance of capital shares | — | — | — | 11,201,367 | ||||||||||||
Net cash used for financing activities | (23,111,706 | ) | (51,010,359 | ) | (87,387,307 | ) | (4,193,555 | ) | ||||||||
CASH IMPACT FROM FOREIGN EXCHANGE FLUCTUATIONS | ||||||||||||||||
Cash impact from foreign exchange fluctuations | (498 | ) | 182 | (1,044 | ) | 1 | ||||||||||
CASH AND FOREIGN CURRENCY | ||||||||||||||||
Net increase (decrease) in restricted and unrestricted cash and foreign currency | (323,893 | ) | 11,454,858 | (4,141,144 | ) | 12,412 | ||||||||||
Restricted and unrestricted cash and foreign currency at beginning of period | 357,845 | 1,908,816 | 8,269,769 | 662,758 | ||||||||||||
Restricted and unrestricted cash and foreign currency at end of period | $ | 33,952 | $ | 13,363,674 | $ | 4,128,625 | $ | 675,170 | ||||||||
NON-CASH FINANCING ACTIVITIES | ||||||||||||||||
Reinvestment of distributions | $ | — | $ | 576,177 | $ | — | $ | 567,690 | ||||||||
F I N A N C I A L ST A T E M E N T S | 139 |
BCX | BST (a) | BSTZ (a) | BUI | |||||||||||||
RECONCILIATION OF RESTRICTED AND UNRESTRICTED CASH AND FOREIGN CURRENCY AT THE END OF PERIOD TO THE STATEMENTS OF ASSETS AND LIABILITIES | ||||||||||||||||
Cash | $ | — | $ | 41,743 | $ | 18,625 | $ | — | ||||||||
Cash pledged | ||||||||||||||||
Collateral — OTC derivatives | — | 400,000 | 3,600,000 | 603,500 | ||||||||||||
Foreign currency at value | 33,952 | 12,921,931 | — | 71,670 | ||||||||||||
Due from Broker | — | — | 510,000 | — | ||||||||||||
$ | 33,952 | $ | 13,363,674 | $ | 4,128,625 | $ | 675,170 | |||||||||
(a) | Consolidated Statement of Cash Flows. |
140 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BGR | ||||||||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended December 31, | |||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||
Net asset value, beginning of period | $ | 10.77 | $ | 8.17 | $ | 12.57 | $ | 11.98 | $ | 15.79 | $ | 16.33 | ||||||||||||
Net investment income (a) | 0.20 | 0.28 | 0.32 | 0.34 | 0.28 | 0.40 | (b) | |||||||||||||||||
Net realized and unrealized gain (loss) | 1.80 | 2.77 | (4.06 | ) | 1.18 | (3.16 | ) | (0.01 | ) | |||||||||||||||
Net increase (decrease) from investment operations | 2.00 | 3.05 | (3.74 | ) | 1.52 | (2.88 | ) | 0.39 | ||||||||||||||||
Distributions (c) | ||||||||||||||||||||||||
From net investment income | (0.26 | ) (d) | (0.28 | ) | (0.32 | ) | (0.34 | ) | (0.27 | ) | (0.40 | ) | ||||||||||||
Return of capital | — | (0.17 | ) | (0.34 | ) | (0.59 | ) | (0.66 | ) | (0.53 | ) | |||||||||||||
Total distributions | (0.26 | ) | (0.45 | ) | (0.66 | ) | (0.93 | ) | (0.93 | ) | (0.93 | ) | ||||||||||||
Net asset value, end of period | $ | 12.51 | $ | 10.77 | $ | 8.17 | $ | 12.57 | $ | 11.98 | $ | 15.79 | ||||||||||||
Market price, end of period | $ | 10.97 | $ | 9.48 | $ | 7.10 | $ | 11.88 | $ | 10.45 | $ | 14.18 | ||||||||||||
Total Return (e) | ||||||||||||||||||||||||
Based on net asset value | 18.75 | % (f) | 38.36 | % (g) | (29.03 | )% | 13.74 | % | (18.84 | )% | 3.49 | % | ||||||||||||
Based on market price | 18.30 | % (f) | 40.14 | % | (34.74 | )% | 23.23 | % | (21.16 | )% | 5.11 | % | ||||||||||||
Ratios to Average Net Assets (h) | ||||||||||||||||||||||||
Total expenses | 1.24 | % (i) | 1.33 | % | 1.37 | % | 1.35 | % | 1.29 | % | 1.31 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed | 1.02 | % (i) | 1.11 | % | 1.15 | % | 1.16 | % | 1.14 | % | 1.18 | % | ||||||||||||
Net investment income | 3.12 | % (i) | 2.88 | % | 3.77 | % | 2.67 | % | 1.87 | % | 2.69 | % (b) | ||||||||||||
Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (000) | $ | 356,383 | $ | 313,503 | $ | 237,868 | $ | 374,896 | $ | 357,391 | $ | 471,062 | ||||||||||||
Portfolio turnover rate | 39 | % | 61 | % | 62 | % | 24 | % | 32 | % | 24 | % | ||||||||||||
(a) | Based on average shares outstanding. |
(b) | Net investment income per share and the ratio of net investment income to average net assets include $0.15 per share and 0.99%, respectively, resulting from a special dividend from BakerHughes, Inc. in July 2017. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
(e) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(f) | Aggregate total return. |
(g) | Includes payment from an affiliate, which had no impact on the Trust’s total return. |
(h) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(i) | Annualized. |
F I N A N C I A L HI G H L I G H T S | 141 |
CII | ||||||||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended December 31, | |||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||
Net asset value, beginning of period | $ | 22.10 | $ | 19.12 | $ | 17.96 | $ | 15.28 | $ | 17.19 | $ | 15.08 | ||||||||||||
Net investment income (a) | 0.03 | 0.04 | 0.13 | 0.18 | 0.17 | 0.15 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (3.09 | ) | 4.04 | 2.08 | 3.50 | (1.09 | ) | 2.95 | ||||||||||||||||
Net increase (decrease) from investment operations | (3.06 | ) | 4.08 | 2.21 | 3.68 | (0.92 | ) | 3.10 | ||||||||||||||||
Distributions (b) | ||||||||||||||||||||||||
From net investment income | (0.60 | ) | (0.04 | ) | (0.13 | ) | (0.19 | ) | (0.17 | ) (c) | (0.15 | ) | ||||||||||||
From net realized gain | — | (1.06 | ) | (0.92 | ) | (0.44 | ) | (0.28 | ) (c) | — | ||||||||||||||
Return of capital | — | — | — | (0.37 | ) | (0.54 | ) | (0.84 | ) | |||||||||||||||
Total distributions | (0.60 | ) | (1.10 | ) | (1.05 | ) | (1.00 | ) | (0.99 | ) | (0.99 | ) | ||||||||||||
Net asset value, end of period | $ | 18.44 | $ | 22.10 | $ | 19.12 | $ | 17.96 | $ | 15.28 | $ | 17.19 | ||||||||||||
Market price, end of period | $ | 17.58 | $ | 22.12 | $ | 17.40 | $ | 17.25 | $ | 14.08 | $ | 16.38 | ||||||||||||
Total Return (d) | ||||||||||||||||||||||||
Based on net asset value | (13.99 | )% (e) | 21.97 | % | 13.94 | % | 25.08 | % | (5.44 | )% | 21.69 | % | ||||||||||||
Based on market price | (18.08 | )% (e) | 34.15 | % | 7.97 | % | 30.38 | % | (8.56 | )% | 27.54 | % | ||||||||||||
Ratios to Average Net Assets (f) | ||||||||||||||||||||||||
Total expenses | 0.89 | % (g) | 0.90 | % | 0.91 | % | 0.91 | % | 0.90 | % | 0.93 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed | 0.89 | % (g) | 0.90 | % | 0.91 | % | 0.91 | % | 0.90 | % | 0.93 | % | ||||||||||||
Net investment income | 0.28 | % (g) | 0.21 | % | 0.78 | % | 1.08 | % | 1.00 | % | 0.94 | % | ||||||||||||
Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (000) | $ | 813,601 | $ | 975,479 | $ | 843,673 | $ | 792,638 | $ | 674,077 | $ | 758,400 | ||||||||||||
Portfolio turnover rate | 14 | % | 27 | % | 46 | % | 32 | % | 27 | % | 32 | % | ||||||||||||
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Amount previously presented incorrectly as solely distributions from net investment income has been revised to reflect the proper classification of distributions between net realized gain and net investment income. |
(d) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(e) | Aggregate total return. |
(f) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(g) | Annualized. |
142 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BDJ | ||||||||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended December 31, | |||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||
Net asset value, beginning of period | $ | 10.23 | $ | 9.35 | $ | 10.03 | $ | 8.74 | $ | 9.96 | $ | 9.22 | ||||||||||||
Net investment income (a) | 0.08 | 0.15 | 0.18 | 0.18 | 0.18 | (b) | 0.16 | |||||||||||||||||
Net realized and unrealized gain (loss) | (0.90 | ) | 1.60 | (0.26 | ) | 1.86 | (0.84 | ) | 1.14 | |||||||||||||||
Net increase (decrease) from investment operations | (0.82 | ) | 1.75 | (0.08 | ) | 2.04 | (0.66 | ) | 1.30 | |||||||||||||||
Distributions (c) | ||||||||||||||||||||||||
From net investment income | (0.32 | ) | (0.28 | ) | (0.15 | ) | (0.08 | ) | (0.18 | ) (d) | (0.17 | ) | ||||||||||||
From net realized gain | — | (0.59 | ) | (0.45 | ) | (0.67 | ) | (0.38 | ) (d) | (0.39 | ) | |||||||||||||
Total distributions | (0.32 | ) | (0.87 | ) | (0.60 | ) | (0.75 | ) | (0.56 | ) | (0.56 | ) | ||||||||||||
Net asset value, end of period | $ | 9.09 | $ | 10.23 | $ | 9.35 | $ | 10.03 | $ | 8.74 | $ | 9.96 | ||||||||||||
Market price, end of period | $ | 8.83 | $ | 10.08 | $ | 8.47 | $ | 9.92 | $ | 7.77 | $ | 9.23 | ||||||||||||
Total Return (e) | ||||||||||||||||||||||||
Based on net asset value | (8.07 | )% (f)(g) | 19.33 | % | 0.77 | % | 24.52 | % | (6.59 | )% | 15.06 | % | ||||||||||||
Based on market price | (9.37 | )% (g) | 29.80 | % | (7.70 | )% | 38.53 | % | (10.39 | )% | 20.63 | % | ||||||||||||
Ratios to Average Net Assets (h) | ||||||||||||||||||||||||
Total expenses | 0.82 | % (i) | 0.85 | % | 0.86 | % | 0.87 | % | 0.85 | % | 0.86 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed | 0.82 | % (i) | 0.85 | % | 0.86 | % | 0.87 | % | 0.85 | % | 0.86 | % | ||||||||||||
Net investment income | 1.69 | % (i) | 1.44 | % | 2.15 | % | 1.99 | % | 1.85 | % (b) | 1.73 | % | ||||||||||||
Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (000) | $ | 1,690,652 | $ | 1,902,838 | $ | 1,739,122 | $ | 1,881,675 | $ | 1,638,237 | $ | 1,868,457 | ||||||||||||
Portfolio turnover rate | 26 | % | 40 | % | 48 | % | 40 | % | 34 | % | 42 | % | ||||||||||||
(a) | Based on average shares outstanding. |
(b) | Net investment income per share and the ratio of net investment income to average net assets includes $0.01 per share and 0.14%, respectively, resulting from a special dividend. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | Amount previously presented incorrectly as solely distributions from net investment income has been revised to reflect the proper classification of distributions between net realized gain and net investment income. |
(e) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(f) | Includes payment from an affiliate, which had no impact on the Trust’s total return. |
(g) | Aggregate total return. |
(h) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(i) | Annualized. |
F I N A N C I A L HI G H L I G H T S | 143 |
BOE | ||||||||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended December 31, | |||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||
Net asset value, beginning of period | $ | 13.40 | $ | 12.28 | $ | 12.32 | $ | 11.07 | $ | 13.22 | $ | 13.38 | ||||||||||||
Net investment income (a) | 0.14 | 0.19 | 0.26 | 0.30 | 0.31 | 0.17 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (1.99 | ) | 1.69 | 0.46 | 1.71 | (1.61 | ) | 1.96 | ||||||||||||||||
Net increase (decrease) from investment operations | (1.85 | ) | 1.88 | 0.72 | 2.01 | (1.30 | ) | 2.13 | ||||||||||||||||
Distributions (b) | ||||||||||||||||||||||||
From net investment income | (0.38 | ) | (0.19 | ) | (0.26 | ) | (0.31 | ) | (0.31 | ) (c) | (0.19 | ) | ||||||||||||
From net realized gain | — | (0.57 | ) | — | — | (0.52 | ) (c) | (2.10 | ) | |||||||||||||||
Return of capital | — | — | (0.50 | ) | (0.45 | ) | (0.02 | ) | — | |||||||||||||||
Total distributions | (0.38 | ) | (0.76 | ) | (0.76 | ) | (0.76 | ) | (0.85 | ) | (2.29 | ) | ||||||||||||
Net asset value, end of period | $ | 11.17 | $ | 13.40 | $ | 12.28 | $ | 12.32 | $ | 11.07 | $ | 13.22 | ||||||||||||
Market price, end of period | $ | 9.77 | $ | 12.18 | $ | 10.91 | $ | 10.99 | $ | 9.37 | $ | 12.51 | ||||||||||||
Total Return (d) | ||||||||||||||||||||||||
Based on net asset value | (13.71 | )% (e) | 16.21 | % | 7.65 | % | 19.54 | % | (9.63 | )% | 17.22 | % (f) | ||||||||||||
Based on market price | (16.96 | )% (e) | 18.89 | % | 7.22 | % | 25.98 | % | (19.16 | )% | 28.28 | % | ||||||||||||
Ratios to Average Net Assets (g) | ||||||||||||||||||||||||
Total expenses | 1.05 | % (h) | 1.07 | % | 1.09 | % | 1.12 | % | 1.08 | % | 1.09 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed | 0.87 | % (h) | 0.90 | % | 0.92 | % | 0.94 | % | 0.94 | % | 1.02 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed and excluding professional fees for foreign withholding taxes | 0.86 | % (h) | 0.90 | % | 0.92 | % | 0.94 | % | 0.94 | % | 1.02 | % | ||||||||||||
Net investment income | 2.27 | % (h) | 1.46 | % | 2.33 | % | 2.62 | % | 2.52 | % | 1.20 | % | ||||||||||||
Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (000) | $ | 709,839 | $ | 857,721 | $ | 786,230 | $ | 807,712 | $ | 754,602 | $ | 911,227 | ||||||||||||
Portfolio turnover rate | 22 | % | 65 | % | 61 | % | 26 | % | 28 | % | 133 | % | ||||||||||||
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Amount previously presented incorrectly as solely distributions from net investment income has been revised to reflect the proper classification of distributions between net realized gain and net investment income. |
(d) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(e) | Aggregate total return. |
(f) | Includes payment from an affiliate, which had no impact on the Trust’s total return. |
(g) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(h) | Annualized. |
144 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BGY | ||||||||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended December 31, | |||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||
Net asset value, beginning of period | $ | 6.81 | $ | 6.49 | $ | 6.47 | $ | 5.79 | $ | 7.06 | $ | 6.28 | ||||||||||||
Net investment income (a) | 0.08 | 0.09 | 0.12 | 0.16 | 0.17 | (b) | 0.09 | |||||||||||||||||
Net realized and unrealized gain (loss) | (1.00 | ) | 0.64 | 0.31 | 0.93 | (1.00 | ) | 1.15 | ||||||||||||||||
Net increase (decrease) from investment operations | (0.92 | ) | 0.73 | 0.43 | 1.09 | (0.83 | ) | 1.24 | ||||||||||||||||
Distributions (c) | ||||||||||||||||||||||||
From net investment income | (0.20 | ) (d) | (0.14 | ) | (0.13 | ) | (0.16 | ) | (0.16 | ) (e) | (0.09 | ) | ||||||||||||
From net realized gain | — | (0.15 | ) | — | (0.19 | ) | (0.28 | ) (e) | — | |||||||||||||||
Return of capital | — | (0.12 | ) | (0.28 | ) | (0.06 | ) | — | (0.37 | ) | ||||||||||||||
Total distributions | (0.20 | ) | (0.41 | ) | (0.41 | ) | (0.41 | ) | (0.44 | ) | (0.46 | ) | ||||||||||||
Net asset value, end of period | $ | 5.69 | $ | 6.81 | $ | 6.49 | $ | 6.47 | $ | 5.79 | $ | 7.06 | ||||||||||||
Market price, end of period | $ | 5.06 | $ | 6.28 | $ | 5.87 | $ | 5.89 | $ | 4.98 | $ | 6.52 | ||||||||||||
Total Return (f) | ||||||||||||||||||||||||
Based on net asset value | (13.36 | )% (g) | 11.92 | % | 8.18 | % | 20.20 | % | (11.48 | )% | 20.88 | % (h) | ||||||||||||
Based on market price | (16.45 | )% (g) | 14.11 | % | 7.49 | % | 27.22 | % | (17.55 | )% | 27.23 | % | ||||||||||||
Ratios to Average Net Assets (i) | ||||||||||||||||||||||||
Total expenses | 1.07 | % (j) | 1.09 | % | 1.10 | % | 1.13 | % | 1.09 | % | 1.12 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed | 0.99 | % (j) | 0.99 | % | 1.00 | % | 1.03 | % | 0.99 | % | 1.02 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed and excluding professional fees for foreign withholding taxes | 0.97 | % (j) | 0.99 | % | 1.00 | % | 1.03 | % | 0.99 | % | 1.02 | % | ||||||||||||
Net investment income | 2.61 | % (j) | 1.34 | % | 1.99 | % | 2.57 | % | 2.59 | % (b) | 1.31 | % | ||||||||||||
Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (000) | $ | 590,914 | $ | 709,510 | $ | 676,949 | $ | 683,247 | $ | 623,234 | $ | 769,678 | ||||||||||||
Portfolio turnover rate | 21 | % | 71 | % | 60 | % | 28 | % | 60 | % | 90 | % | ||||||||||||
(a) | Based on average shares outstanding. |
(b) | Net investment income per share and the ratio of net investment income to average net assets includes $0.10 per share and 29%, respectively, resulting from a non-recurring dividend. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
(e) | Amount previously presented incorrectly as solely distributions from net investment income has been revised to reflect the proper classification of distributions between net realized gain and net investment income. |
(f) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(g) | Aggregate total return. |
(h) | Includes payment from an affiliate, which had no impact on the Trust’s total return. |
(i) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(j) | Annualized. |
F I N A N C I A L HI G H L I G H T S | 145 |
BME | ||||||||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended December 31, | |||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||
Net asset value, beginning of period | $ | 47.96 | $ | 45.66 | $ | 41.19 | $ | 35.87 | $ | 35.69 | $ | 31.30 | ||||||||||||
Net investment income (a) | 0.06 | — | 0.01 | 0.06 | 0.07 | 0.02 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (4.79 | ) | 4.74 | 6.86 | 7.66 | 2.51 | 6.77 | |||||||||||||||||
Net increase (decrease) from investment operations | (4.73 | ) | 4.74 | 6.87 | 7.72 | 2.58 | 6.79 | |||||||||||||||||
Distributions (b) | ||||||||||||||||||||||||
From net investment income | (1.28 | ) | (0.00 | ) (c) | (0.05 | ) | (0.12 | ) | (0.07 | ) (d) | (0.04 | ) | ||||||||||||
From net realized gain | — | (2.44 | ) | (2.35 | ) | (2.28 | ) | (2.33 | ) (d) | (2.11 | ) | |||||||||||||
Return of capital | — | — | — | — | — | (0.25 | ) | |||||||||||||||||
Total distributions | (1.28 | ) | (2.44 | ) | (2.40 | ) | (2.40 | ) | (2.40 | ) | (2.40 | ) | ||||||||||||
Net asset value, end of period | $ | 41.95 | $ | 47.96 | $ | 45.66 | $ | 41.19 | $ | 35.87 | $ | 35.69 | ||||||||||||
Market price, end of period | $ | 42.40 | $ | 48.50 | $ | 47.59 | $ | 42.50 | $ | 36.45 | $ | 36.50 | ||||||||||||
Total Return (e) | ||||||||||||||||||||||||
Based on net asset value | (9.93 | )% (f) | 10.66 | % (g) | 17.50 | % | 22.26 | % | 7.26 | % | 22.17 | % | ||||||||||||
Based on market price | (9.97 | )% (f) | 7.37 | % | 18.69 | % | 24.15 | % | 6.57 | % | 23.17 | % | ||||||||||||
Ratios to Average Net Assets (h) | ||||||||||||||||||||||||
Total expenses | 1.06 | % (i) | 1.08 | % | 1.10 | % | 1.09 | % | 1.11 | % | 1.12 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed | 1.06 | % (i) | 1.08 | % | 1.10 | % | 1.09 | % | 1.11 | % | 1.12 | % | ||||||||||||
Net investment income | 0.26 | % (i) | 0.01 | % | 0.01 | % | 0.16 | % | 0.19 | % | 0.06 | % | ||||||||||||
Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (000) | $ | 566,061 | $ | 625,775 | $ | 545,936 | $ | 446,773 | $ | 352,675 | $ | 331,858 | ||||||||||||
Portfolio turnover rate | 27 | % | 49 | % | 28 | % | 47 | % | 37 | % | 38 | % | ||||||||||||
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | Amount is greater than $(0.005) per share. |
(d) | Amount previously presented incorrectly as solely distributions from net investment income has been revised to reflect the proper classification of distributions between net realized gain and net investment income. |
(e) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(f) | Aggregate total return. |
(g) | Includes payment from an affiliate, which had no impact on the Trust’s total return. |
(h) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(i) | Annualized. |
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BMEZ | ||||||||||||
| Six Months Ended 06/30/22 (unaudited | ) | | Year Ended 12/31/21 | | | Period from 01/30/20 to 12/31/20 | (a) | ||||
Net asset value, beginning of period | $ | 26.47 | $ | 30.73 | $ | 20.00 | ||||||
Net investment loss (b) | (0.11 | ) | (0.32 | ) | (0.22 | ) | ||||||
Net realized and unrealized gain (loss) | (6.58 | ) | (2.23 | ) | 11.85 | |||||||
Net increase (decrease) from investment operations | (6.69 | ) | (2.55 | ) | 11.63 | |||||||
Distributions (c) | ||||||||||||
From net investment income | (0.87 | ) | — | — | ||||||||
From net realized gain | — | (1.71 | ) | (0.90 | ) | |||||||
Total distributions | (0.87 | ) | (1.71 | ) | (0.90 | ) | ||||||
Net asset value, end of period | $ | 18.91 | $ | 26.47 | $ | 30.73 | ||||||
Market price, end of period | $ | 16.43 | $ | 25.36 | $ | 28.65 | ||||||
Total Return (d) | ||||||||||||
Based on net asset value | (25.17 | )% (e) | (8.31 | )% | 59.62 | % (e)(f) | ||||||
Based on market price | (32.14 | )% (e) | (5.76 | )% | 48.82 | % (e) | ||||||
Ratios to Average Net Assets (g) | ||||||||||||
Total expenses | 1.31 | % (h) | 1.30 | % | 1.29 | % (h) | ||||||
Total expenses after fees waived and/or reimbursed | 1.31 | % (h) | 1.30 | % | 1.28 | % (h) | ||||||
Net investment loss | (1.00 | )% (h) | (1.10 | )% | (1.00 | )% (h) | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000) | $ | 2,119,547 | $ | 2,981,886 | $ | 3,462,638 | ||||||
Portfolio turnover rate | 36 | % | 44 | % | 43 | % | ||||||
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(e) | Aggregate total return. |
(f) | Includes payment from an affiliate, which had no impact on the Trust’s total return. |
(g) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(h) | Annualized. |
F I N A N C I A L HI G H L I G H T S | 147 |
BIGZ | ||||||||
| Six Months Ended 06/30/22 (unaudited | ) | | Period from 03/29/21 to 12/31/21 | (a) | |||
Net asset value, beginning of period | $ | 16.72 | $ | 20.00 | ||||
Net investment loss (b) | (0.07 | ) | (0.15 | ) | ||||
Net realized and unrealized loss | (6.60 | ) | (2.43 | ) | ||||
Net decrease from investment operations | (6.67 | ) | (2.58 | ) | ||||
Distributions (c) | ||||||||
From net investment income | (0.57 | ) (d) | — | |||||
Return of capital | — | (0.70 | ) | |||||
Total distributions | (0.57 | ) | (0.70 | ) | ||||
Net asset value, end of period | $ | 9.48 | $ | 16.72 | ||||
Market price, end of period | $ | 7.94 | $ | 14.54 | ||||
Total Return (e)(f) | ||||||||
Based on net asset value | (40.12 | )% | (13.03 | )% | ||||
Based on market price | (42.33 | )% | (24.37 | )% | ||||
Ratios to Average Net Assets (g)(h) | ||||||||
Total expenses | 1.33 | % | 1.29 | % | ||||
Total expenses after fees waived and/or reimbursed | 1.33 | % (g) | 1.28 | % | ||||
Net investment loss | (1.20 | )% | (1.02 | )% | ||||
Supplemental Data | ||||||||
Net assets, end of period (000) | $ | 2,236,079 | $ | 3,981,653 | ||||
Portfolio turnover rate | 26 | % | 55 | % | ||||
(a) | Commencement of operations. |
(b) | Based on average shares outstanding. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
(e) | Aggregate total return. |
(f) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(g) | Annualized. |
(h) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
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BCX | ||||||||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended December 31, | |||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||
Net asset value, beginning of period | $ | 10.21 | $ | 8.45 | $ | 9.04 | $ | 8.44 | $ | 10.64 | $ | 9.86 | ||||||||||||
Net investment income (a) | 0.15 | 0.29 | 0.20 | 0.23 | 0.22 | 0.20 | (b) | |||||||||||||||||
Net realized and unrealized gain (loss) | (0.15 | ) | 1.95 | (0.26 | ) | 0.99 | (1.80 | ) | 1.19 | |||||||||||||||
Net increase (decrease) from investment operations | — | 2.24 | (0.06 | ) | 1.22 | (1.58 | ) | 1.39 | ||||||||||||||||
Distributions (c) | ||||||||||||||||||||||||
From net investment income | (0.26 | ) (d) | (0.38 | ) | (0.23 | ) | (0.23 | ) | (0.19 | ) | (0.24 | ) | ||||||||||||
Return of capital | — | (0.10 | ) | (0.30 | ) | (0.39 | ) | (0.43 | ) | (0.37 | ) | |||||||||||||
Total distributions | (0.26 | ) | (0.48 | ) | (0.53 | ) | (0.62 | ) | (0.62 | ) | (0.61 | ) | ||||||||||||
Net asset value, end of period | $ | 9.95 | $ | 10.21 | $ | 8.45 | $ | 9.04 | $ | 8.44 | $ | 10.64 | ||||||||||||
Market price, end of period | $ | 8.98 | $ | 9.35 | $ | 7.41 | $ | 8.07 | $ | 7.06 | $ | 9.77 | ||||||||||||
Total Return (e) | ||||||||||||||||||||||||
Based on net asset value | (0.05 | )% (f) | 27.20 | % | 1.56 | % | 15.88 | % | (14.90 | )% | 15.60 | % | ||||||||||||
Based on market price | (1.50 | )% (f) | 32.83 | % | (0.23 | )% | 23.67 | % | (22.47 | )% | 26.55 | % | ||||||||||||
Ratios to Average Net Assets (g) | ||||||||||||||||||||||||
Total expenses | 1.05 | % (h) | 1.07 | % | 1.09 | % | 1.11 | % | 1.08 | % | 1.08 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed | 1.05 | % (h) | 1.07 | % | 1.09 | % | 1.11 | % | 1.08 | % | 1.08 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed and excluding professional fees for foreign withholding taxes | 1.05 | % (h) | 1.07 | % | 1.09 | % | 1.11 | % | 1.08 | % | 1.08 | % | ||||||||||||
Net investment income | 2.67 | % (h) | 3.05 | % | 2.62 | % | 2.56 | % | 2.17 | % | 2.06 | % (b) | ||||||||||||
Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (000) | $ | 878,618 | $ | 901,782 | $ | 746,615 | $ | 822,754 | $ | 798,282 | $ | 1,027,472 | ||||||||||||
Portfolio turnover rate | 45 | % | 66 | % | 78 | % | 69 | % | 66 | % | 73 | % | ||||||||||||
(a) | Based on average shares outstanding. |
(b) | Net investment income per share and the ratio of net investment income to average net assets include less than $0.04 per share and 0.39% respectively, resulting from a special dividend from Baker Hughes Inc. in July 2017. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
(e) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(f) | Aggregate total return. |
(g) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(h) | Annualized. |
F I N A N C I A L HI G H L I G H T S | 149 |
BST | ||||||||||||||||||||||||
| Six Months Ended 06/30/22 (unaudited) | (a) | Year Ended December 31, | |||||||||||||||||||||
2021 | (a) | 2020 | (a) | 2019 | 2018 | 2017 | ||||||||||||||||||
Net asset value, beginning of period | $ | 52.40 | $ | 51.94 | $ | 32.45 | $ | 26.21 | $ | 27.73 | $ | 20.10 | ||||||||||||
Net investment loss (b) | (0.17 | ) | (0.43 | ) | (0.28 | ) | (0.17 | ) | (0.13 | ) | (0.05 | ) | ||||||||||||
Net realized and unrealized gain (loss) | (17.12 | ) | 5.84 | 21.82 | 9.92 | 0.37 | 8.96 | |||||||||||||||||
Net increase (decrease) from investment operations | (17.29 | ) | 5.41 | 21.54 | 9.75 | 0.24 | 8.91 | |||||||||||||||||
Distributions (c) | ||||||||||||||||||||||||
From net investment income | (1.50 | ) | — | — | — | — | (d) | (0.05 | ) | |||||||||||||||
From net realized gain | — | (4.27 | ) | (2.05 | ) | (3.51 | ) | (1.76 | ) (d) | (0.22 | ) | |||||||||||||
Return of capital | — | — | — | — | — | (1.01 | ) | |||||||||||||||||
Total distributions | (1.50 | ) | (4.27 | ) | (2.05 | ) | (3.51 | ) | (1.76 | ) | (1.28 | ) | ||||||||||||
Dilutive effect of rights offer (Note 10) | — | (0.68 | ) | — | — | — | — | |||||||||||||||||
Net asset value, end of period | $ | 33.61 | $ | 52.40 | $ | 51.94 | $ | 32.45 | $ | 26.21 | $ | 27.73 | ||||||||||||
Market price, end of period | $ | 32.49 | $ | 49.97 | $ | 53.30 | $ | 33.27 | $ | 27.48 | $ | 26.69 | ||||||||||||
Total Return (e) | ||||||||||||||||||||||||
Based on net asset value | (33.40 | )% (f) | 9.44 | % | 68.76 | % (g) | 37.82 | % | 0.24 | % | 45.73 | % | ||||||||||||
Based on market price | (32.49 | )% (f) | 1.70 | % | 68.92 | % | 34.77 | % | 9.18 | % | 57.15 | % | ||||||||||||
Ratios to Average Net Assets (h) | ||||||||||||||||||||||||
Total expenses | 1.07 | % (i) | 1.05 | % | 1.09 | % | 1.08 | % | 1.09 | % | 1.09 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed | 1.07 | % (i) | 1.00 | % | 0.99 | % | 0.92 | % | 0.89 | % | 0.89 | % | ||||||||||||
Net investment loss | (0.81 | )% (i) | (0.78 | )% | (0.73 | )% | (0.52 | )% | (0.43 | )% | (0.19 | )% | ||||||||||||
Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (000) | $ | 1,078,899 | $ | 1,681,166 | $ | 1,297,344 | $ | 742,672 | $ | 587,908 | $ | 620,300 | ||||||||||||
Portfolio turnover rate | 18 | % | 31 | % | 20 | % | 32 | % | 53 | % | 41 | % | ||||||||||||
(a) | Consolidated Financial Highlights. |
(b) | Based on average shares outstanding. |
(c) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(d) | Amount previously presented incorrectly as solely distributions from net investment income has been revised to reflect the proper classification of distributions between net realized gain and net investment income. |
(e) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(f) | Aggregate total return. |
(g) | For financial reporting purposes, the market value of a certain investment was adjusted as of the report date. Accordingly, the net asset value (.NAV.) per share and total return performance based on NAV presented herein are different than the information previously published as of December 31, 2020. |
(h) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(i) | Annualized. |
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BSTZ | ||||||||||||||||
| Six Months Ended 06/30/22 (unaudited) | (a) | Year Ended December 31, (a) | | Period from 06/27/19 to 12/31/19 | (b) | ||||||||||
2021 | 2020 | |||||||||||||||
Net asset value, beginning of period | $ | 38.82 | $ | 38.72 | $ | 20.95 | $ | 20.00 | ||||||||
Net investment loss (c) | (0.17 | ) | (0.51 | ) | (0.30 | ) | (0.05 | ) | ||||||||
Net realized and unrealized gain (loss) | (14.54 | ) | 3.69 | 19.32 | 1.50 | |||||||||||
Net increase (decrease) from investment operations | (14.71 | ) | 3.18 | 19.02 | 1.45 | |||||||||||
Distributions (d) | ||||||||||||||||
From net investment income | (1.15 | ) | — | — | — | |||||||||||
From net realized gain | — | (3.08 | ) | (1.10 | ) | — | ||||||||||
Return of capital | — | — | (0.15 | ) | (0.50 | ) | ||||||||||
Total distributions | (1.15 | ) | (3.08 | ) | (1.25 | ) | (0.50 | ) | ||||||||
Net asset value, end of period | $ | 22.96 | $ | 38.82 | $ | 38.72 | $ | 20.95 | ||||||||
Market price, end of period | $ | 19.59 | $ | 38.94 | $ | 36.38 | $ | 20.50 | ||||||||
Total Return (e) | ||||||||||||||||
Based on net asset value | (38.15 | )% (f) | 8.41 | % | 94.60 | % (g) | 7.40 | % (f) | ||||||||
Based on market price | (47.39 | )% (f) | 15.75 | % | 86.85 | % | 5.10 | % (f) | ||||||||
Ratios to Average Net Assets (h) | ||||||||||||||||
Total expenses | 1.33 | % (i) | 1.31 | % | 1.33 | % | 1.32 | % (i) | ||||||||
Total expenses after fees waived and/or reimbursed | 1.33 | % (i) | 1.31 | % | 1.33 | % | 1.30 | % (i) | ||||||||
Net investment loss | (1.16 | )% (i) | (1.25 | )% | (1.16 | )% | (0.48 | )% (i) | ||||||||
Supplemental Data | ||||||||||||||||
Net assets, end of period (000) | $ | 1,802,895 | $ | 3,048,962 | $ | 3,023,744 | $ | 1,635,966 | ||||||||
Portfolio turnover rate | 20 | % | 18 | % | 45 | % | 16 | % | ||||||||
(a) | Consolidated Financial Highlights. |
(b) | Commencement of operations. |
(c) | Based on average shares outstanding. |
(d) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(e) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(f) | Aggregate total return. |
(g) | Includes payment from an affiliate, which had no impact on the Trust’s total return. |
(h) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(i) | Annualized. |
F I N A N C I A L HI G H L I G H T S | 151 |
BUI | ||||||||||||||||||||||||
Six Months Ended 06/30/22 (unaudited) | Year Ended December 31, | |||||||||||||||||||||||
2021 | 2020 | 2019 | 2018 | 2017 | ||||||||||||||||||||
Net asset value, beginning of period | $ | 25.86 | $ | 23.80 | $ | 22.02 | $ | 18.77 | $ | 21.12 | $ | 19.42 | ||||||||||||
Net investment income (a) | 0.21 | 0.24 | 0.33 | 0.37 | 0.49 | 0.56 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (3.68 | ) | 3.27 | 2.90 | 4.33 | (1.39 | ) | 2.59 | ||||||||||||||||
Net increase (decrease) from investment operations | (3.47 | ) | 3.51 | 3.23 | 4.70 | (0.90 | ) | 3.15 | ||||||||||||||||
Distributions (b) | ||||||||||||||||||||||||
From net investment income | (0.73 | ) (c) | (0.24 | ) | (0.20 | ) | (0.24 | ) | (0.63 | ) (d) | (0.47 | ) | ||||||||||||
From net realized gain | — | (0.76 | ) | (1.08 | ) | (1.06 | ) | (0.81 | ) (d) | (0.98 | ) | |||||||||||||
Return of capital | — | (0.45 | ) | (0.17 | ) | (0.15 | ) | (0.01 | ) | — | ||||||||||||||
Total distributions | (0.73 | ) | (1.45 | ) | (1.45 | ) | (1.45 | ) | (1.45 | ) | (1.45 | ) | ||||||||||||
Net asset value, end of period | $ | 21.66 | $ | 25.86 | $ | 23.80 | $ | 22.02 | $ | 18.77 | $ | 21.12 | ||||||||||||
Market price, end of period | $ | 21.88 | $ | 26.62 | $ | 25.04 | $ | 22.31 | $ | 19.76 | $ | 21.62 | ||||||||||||
Total Return (e) | ||||||||||||||||||||||||
Based on net asset value | (13.61 | )% (f) | 15.13 | % | 15.87 | % | 25.63 | % | (4.40 | )% | 16.62 | % | ||||||||||||
Based on market price | (15.22 | )% (f) | 12.65 | % | 20.32 | % | 20.91 | % | (1.68 | )% | 25.93 | % | ||||||||||||
Ratios to Average Net Assets (g) | ||||||||||||||||||||||||
Total expenses | 1.08 | % (h) | 1.08 | % | 1.13 | % | 1.12 | % | 1.12 | % | 1.11 | % | ||||||||||||
Total expenses after fees waived and/or reimbursed | 1.08 | % (h) | 1.07 | % | 1.10 | % | 1.10 | % | 1.09 | % | 1.09 | % | ||||||||||||
Net investment income | 1.80 | % (h) | 0.97 | % | 1.58 | % | 1.78 | % | 2.46 | % | 2.70 | % | ||||||||||||
Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (000) | $ | 478,643 | $ | 559,805 | $ | 444,526 | $ | 383,337 | $ | 318,933 | $ | 357,776 | ||||||||||||
Portfolio turnover rate | 17 | % | 20 | % | 39 | % | 39 | % | 28 | % | 31 | % | ||||||||||||
(a) | Based on average shares outstanding. |
(b) | Distributions for annual periods determined in accordance with U.S. federal income tax regulations. |
(c) | A portion of the distributions from net investment income may be deemed a return of capital or net realized gain at fiscal year-end. |
(d) | Amount previously presented incorrectly as solely distributions from net investment income has been revised to reflect the proper classification of distributions between net realized gain and net investment income. |
(e) | Total returns based on market price, which can be significantly greater or less than the net asset value, may result in substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |
(f) | Aggregate total return. |
(g) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |
(h) | Annualized. |
152 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
1. | ORGANIZATION |
Trust Name | Herein Referred To As | Organized | Diversification Classification | |||
BlackRock Energy and Resources Trust | BGR | Delaware | Non-diversified | |||
BlackRock Enhanced Capital and Income Fund, Inc. | CII | Maryland | Diversified | |||
BlackRock Enhanced Equity Dividend Trust | BDJ | Delaware | Diversified | |||
BlackRock Enhanced Global Dividend Trust | BOE | Delaware | Diversified | |||
BlackRock Enhanced International Dividend Trust | BGY | Delaware | Diversified | |||
BlackRock Health Sciences Trust | BME | Delaware | Diversified | |||
BlackRock Health Sciences Trust II | BMEZ | Maryland | Non-diversified | |||
BlackRock Innovation and Growth Trust | BIGZ | Maryland | Non-diversified | |||
BlackRock Resources & Commodities Strategy Trust | BCX | Delaware | Non-diversified | |||
BlackRock Science and Technology Trust | BST | Delaware | Diversified | |||
BlackRock Science and Technology Trust II | BSTZ | Delaware | Non-diversified | |||
BlackRock Utilities, Infrastructure & Power Opportunities Trust | BUI | Delaware | Diversified |
2. | SIGNIFICANT ACCOUNTING POLICIES |
N O T E S T O FI N A N C I A L ST A T E M E N T S | 153 |
3. | INVESTMENT VALUATION AND FAIR VALUE MEASUREMENTS |
• | Equity investments traded on a recognized securities exchange are valued at that day’s official closing price, as applicable, on the exchange where the stock is primarily traded. Equity investments traded on a recognized exchange for which there were no sales on that day may be valued at the last available bid (long positions) or ask (short positions) price. |
• | Fixed-income investments for which market quotations are readily available are generally valued using the last available bid price or current market quotations provided by independent dealers or third-party pricing services. Pricing services generally value fixed-income securities assuming orderly transactions of an institutional round |
154 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
lot size, but a fund may hold or transact in such securities in smaller, odd lot sizes. Odd lots may trade at lower prices than institutional round lots. The pricing services may use matrix pricing or valuation models that utilize certain inputs and assumptions to derive values, including transaction data (e.g., recent representative bids and offers), market data, credit quality information, perceived market movements, news, and other relevant information. Certain fixed-income securities, including asset-backed and mortgage related securities may be valued based on valuation models that consider the estimated cash flows of each tranche of the entity, establish a benchmark yield and develop an estimated tranche specific spread to the benchmark yield based on the unique attributes of the tranche. The amortized cost method of valuation may be used with respect to debt obligations with sixty days or less remaining to maturity unless the Manager determines such method does not represent fair value. |
• | Investments in open-end U.S. mutual funds (including money market funds) are valued at that day’s published NAV. |
• | The Trusts value their investment in SL Liquidity Series, LLC, Money Market Series (the “Money Market Series”) at fair value, which is ordinarily based upon their pro rata ownership in the underlying fund’s net assets. |
• | Exchange-traded options are valued at the mean between the last bid and ask prices at the close of the options market in which the options trade. An exchange-traded option for which there is no mean price is valued at the last bid (long positions) or ask (short positions) price. If no bid or ask price is available, the prior day’s price will be used, unless it is determined that the prior day’s price no longer reflects the fair value of the option. Over-the-counter |
Standard Inputs Generally Considered By Third-Party Pricing Services | ||||
Market approach | (i) recent market transactions, including subsequent rounds of financing, in the underlying investment or comparable issuers; (ii) recapitalizations and other transactions across the capital structure; and (iii) market multiples of comparable issuers. | |||
Income approach | (i) future cash flows discounted to present and adjusted as appropriate for liquidity, credit, and/or market risks; (ii) quoted prices for similar investments or assets in active markets; and (iii) other risk factors, such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, recovery rates, liquidation amounts and/or default rates. | |||
Cost approach. | (i) audited or unaudited financial statements, investor communications and financial or operational metrics issued by the Private Company; (ii) changes in the valuation of relevant indices or publicly traded companies comparable to the Private Company; (iii) relevant news and other public sources; and (iv) known secondary market transactions in the Private Company’s interests and merger or acquisition activity in companies comparable to the Private Company. |
N O T E S T O FI N A N C I A L ST A T E M E N T S | 155 |
• | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each 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 |
• | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Global Valuation Committee’s assumptions used in determining the fair value of financial instruments). |
4. | SECURITIES AND OTHER INVESTMENTS |
156 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Name/Counterparty | | Securities Loaned at Value | | | Cash Collateral Received | (a) | | Non-Cash Collateral Received, at Fair Value | (a) | | Net Amount | (b) | ||||
BME | ||||||||||||||||
Barclays Capital, Inc. | $ | 462,260 | $ | (462,260 | ) | $ | — | $ | — | |||||||
Citigroup Global Markets, Inc. | 42,146 | (41,747 | ) | — | 399 | |||||||||||
Morgan Stanley | 24,602 | (24,600 | ) | — | 2 | |||||||||||
State Street Bank & Trust Co. | 35,839 | (35,839 | ) | — | — | |||||||||||
Toronto-Dominion Bank | 1,720 | (1,300 | ) | — | 420 | |||||||||||
$ | 566,567 | $ | (565,746 | ) | $ | — | $ | 821 | ||||||||
BMEZ | ||||||||||||||||
Barclays Capital, Inc. | $ | 2,061,484 | $ | (2,061,484 | ) | $ | — | $ | — | |||||||
BNP Paribas SA | 391,635 | (391,635 | ) | — | — | |||||||||||
BofA Securities, Inc. | 231,439 | (231,439 | ) | — | — | |||||||||||
Citigroup Global Markets, Inc. | 435,731 | (435,731 | ) | — | — | |||||||||||
Credit Suisse Securities (USA) LLC | 51,300 | (51,300 | ) | — | — | |||||||||||
Goldman Sachs & Co. LLC | 380,864 | (379,964 | ) | — | 900 | |||||||||||
Morgan Stanley | 452,866 | (452,631 | ) | — | 235 | |||||||||||
National Financial Services LLC | 2,488,520 | (2,434,845 | ) | — | 53,675 | |||||||||||
State Street Bank & Trust Co. | 204,981 | (203,070 | ) | — | 1,911 | |||||||||||
Toronto-Dominion Bank | 8,172 | (8,096 | ) | — | 76 | |||||||||||
$ | 6,706,992 | $ | (6,650,195 | ) | $ | — | $ | 56,797 | ||||||||
BSTZ | ||||||||||||||||
Barclays Capital, Inc. | $ | 2,388,957 | $ | (2,388,957 | ) | $ | — | $ | — | |||||||
BNP Paribas SA | 15,800 | (15,800 | ) | — | — | |||||||||||
Goldman Sachs & Co. LLC | 2,190,513 | (2,190,513 | ) | — | — | |||||||||||
Toronto-Dominion Bank | 37,920 | (37,920 | ) | — | — | |||||||||||
$ | 4,633,190 | $ | (4,633,190 | ) | $ | — | $ | — | ||||||||
BUI | ||||||||||||||||
Goldman Sachs & Co. LLC | $ | 505,064 | $ | (505,064 | ) | $ | — | $ | — | |||||||
(a) | Collateral received, if any, in excess of the market value of securities on loan is not presented in this table. The total cash collateral received by each Trust is disclosed in the Trust’s Statements of Assets and Liabilities. |
(b) | The market value of the loaned securities is determined as of June 30, 2022. Additional collateral is delivered to each Trust on the next business day in accordance with the MSLA. The net amount would be subject to the borrower default indemnity in the event of default by the counterparty. |
5. | DERIVATIVE FINANCIAL INSTRUMENTS |
N O T E S T O FI N A N C I A L ST A T E M E N T S | 157 |
6. | INVESTMENT ADVISORY AGREEMENT AND OTHER TRANSACTIONS WITH AFFILIATES |
BGR | BDJ | BOE | BME | |||||||||||||
Investment advisory fees | 1.20 | % | 0.80 | % | 1.00 | % | 1.00 | % |
CII | BGY | BUI | ||||||||||
Investment advisory fees | 0.85 | % | 1.00 | % | 1.00 | % |
BMEZ | BIGZ | BST | BSTZ | |||||||||||||
Investment advisory fees | 1.25 | % | 1.25 | % | 1.00 | % | 1.25 | % |
158 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
BGR | BOE | BGY | ||||||||||
0.220 | % | 0.175 | % | 0.100 | % |
Trust Name | Fees Waived and/or Reimbursed by the Manager | |||
BGR | $ | 407,271 | ||
BOE | 685,576 | |||
BGY | 274,077 |
Trust Name | Fees Waived and/or Reimbursed by the Manager | |||
BGR | $ | 1,046 | ||
CII | 2,837 | |||
BDJ | 14,166 | |||
BOE | 1,426 | |||
BGY | 1,676 | |||
BME | 7,222 | |||
BMEZ | 20,437 | |||
BIGZ | 2,696 | |||
BCX | 4,966 | |||
BST | 8,317 | |||
BSTZ | 12,846 | |||
BUI | 2,328 |
N O T E S T O FI N A N C I A L ST A T E M E N T S | 159 |
Trust Name | Amounts | |||
BDJ | $ | 2 | ||
BME | 1,251 | |||
BMEZ | 20,228 | |||
BIGZ | 948 | |||
BST | 3,821 | |||
BSTZ | 32,033 | |||
BUI | 242 |
Trust Name | Purchases | Sales | Net Realized Gain (Loss) | |||||||||
BOE | $ | — | $ | 5,730,635 | $ | (144,921 | ) | |||||
BGY | — | 8,487,966 | (212,936 | ) |
7. | PURCHASES AND SALES |
Trust Name | Purchases | Sales | ||||||
BGR | $ | 140,712,200 | $ | 173,661,921 | ||||
CII | 130,665,522 | 137,934,953 | ||||||
BDJ | 474,178,478 | 541,438,438 | ||||||
BOE | 174,393,657 | 174,441,351 | ||||||
BGY | 138,905,275 | 155,899,089 | ||||||
BME | 150,726,856 | 156,316,971 | ||||||
BMEZ | 849,432,780 | 955,843,056 | ||||||
BIGZ | 776,070,184 | 925,654,708 | ||||||
BCX | 431,494,155 | 492,778,299 | ||||||
BST | 247,478,248 | 271,004,000 | ||||||
BSTZ | 480,232,400 | 550,566,063 | ||||||
BUI | 91,135,913 | 93,849,056 |
8. | INCOME TAX INFORMATION |
160 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Trust Name | Non-Expiring | |||
BGR | $ | 269,130,117 | ||
BIGZ | 168,343,640 | |||
BCX | 412,547,801 |
Trust Name | Tax Cost | Gross Unrealized Appreciation | Gross Unrealized Depreciation | Net Unrealized Appreciation (Depreciation) | ||||||||||||
BGR | $ | 269,530,343 | $ | 117,528,480 | $ | (29,635,454 | ) | $ | 87,893,026 | |||||||
CII | 630,746,155 | 240,871,534 | (50,697,986 | ) | 190,173,548 | |||||||||||
BDJ | 1,553,586,665 | 256,776,866 | (101,188,064 | ) | 155,588,802 | |||||||||||
BOE | 702,842,038 | 94,072,268 | (78,021,775 | ) | 16,050,493 | |||||||||||
BGY | 569,312,134 | 85,832,056 | (65,073,312 | ) | 20,758,744 | |||||||||||
BME | 423,597,964 | 171,376,299 | (23,466,166 | ) | 147,910,133 | |||||||||||
BMEZ | 2,330,629,822 | 240,044,780 | (423,209,081 | ) | (183,164,301 | ) | ||||||||||
BIGZ | 3,177,679,100 | 20,475,073 | (943,004,291 | ) | (922,529,218 | ) | ||||||||||
BCX | 795,548,527 | 189,661,002 | (94,889,021 | ) | 94,771,981 | |||||||||||
BST | 803,265,374 | 410,166,067 | (124,326,834 | ) | 285,839,233 | |||||||||||
BSTZ | 1,477,880,873 | 569,221,582 | (196,739,188 | ) | 372,482,394 | |||||||||||
BUI | 374,408,600 | 125,956,924 | (18,262,592 | ) | 107,694,332 |
9. | PRINCIPAL RISKS |
N O T E S T O FI N A N C I A L ST A T E M E N T S | 161 |
Sectors | Trust Name | |||
Energy | BGR, BCX | |||
Financials | BDJ | |||
Health Care | BME, BMEZ | |||
Information Technology | BST, BSTZ | |||
Materials | BCX | |||
Utilities | BUI |
162 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
10. | CAPITAL SHARE TRANSACTIONS |
Trust Name | Six Months Ended 06/30/22 | Year Ended 12/31/21 | ||||||
BME | 426,681 | 1,053,578 | ||||||
BST | — | 242,731 | ||||||
BUI | 425,622 | 2,910,832 |
Trust Name | Six Months Ended 06/30/22 | Year Ended 12/31/21 | ||||||
CII | — | 10,701 | ||||||
BME | 19,097 | 37,877 | ||||||
BIGZ | — | 231,136 | ||||||
BST | 15,418 | 40,859 | ||||||
BSTZ | — | 448,074 | ||||||
BUI | 24,183 | 63,066 |
BGR | ||||||||
Shares | Amounts | |||||||
Six Months Ended June 30, 2022 | 611,105 | $ | 7,221,391 | |||||
BOE | ||||||||
Shares | Amounts | |||||||
Six Months Ended June 30, 2022 | 488,481 | $ | 5,080,918 | |||||
Year Ended December 31, 2021 | 18,558 | 205,246 | ||||||
BGY | ||||||||
Shares | Amounts | |||||||
Six Months Ended June 30, 2022 | 390,308 | $ | 2,117,512 |
N O T E S T O FI N A N C I A L ST A T E M E N T S | 163 |
BMEZ | ||||||||
Shares | Amounts | |||||||
Six Months Ended June 30, 2022 | 585,935 | $ | 9,529,955 |
BIGZ | ||||||||
Shares | Amounts | |||||||
Six Months Ended June 30, 2022 | 2,389,535 | $ | 20,804,846 | |||||
Year Ended December 31, 2021 | 5,142,849 | 74,068,155 | ||||||
11. | SUBSEQUENT EVENTS |
Trust Name | Declaration Date | Record Date | Payable/ Paid Date | Dividend Per Common Share | ||||||||||||
BGR | 07/01/22 | 07/15/22 | 07/29/22 | $ | 0.049000 | |||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.049000 | |||||||||||||
CII | 07/01/22 | 07/15/22 | 07/29/22 | 0.099500 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.099500 | |||||||||||||
BDJ | 07/01/22 | 07/15/22 | 07/29/22 | 0.056200 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.056200 | |||||||||||||
BOE | 07/01/22 | 07/15/22 | 07/29/22 | 0.063000 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.063000 | |||||||||||||
BGY | 07/01/22 | 07/15/22 | 07/29/22 | 0.033800 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.033800 | |||||||||||||
BME | 07/01/22 | 07/15/22 | 07/29/22 | 0.213000 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.213000 | |||||||||||||
BMEZ | 07/01/22 | 07/15/22 | 07/29/22 | 0.145000 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.145000 | |||||||||||||
BIGZ | 07/01/22 | 07/15/22 | 07/29/22 | 0.070000 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.070000 | |||||||||||||
BCX | 07/01/22 | 07/15/22 | 07/29/22 | 0.045000 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.045000 | |||||||||||||
BST | 07/01/22 | 07/15/22 | 07/29/22 | 0.250000 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.250000 | |||||||||||||
BSTZ | 07/01/22 | 07/15/22 | 07/29/22 | 0.192000 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.192000 | |||||||||||||
BUI | 07/01/22 | 07/15/22 | 07/29/22 | 0.121000 | ||||||||||||
08/01/22 | 08/15/22 | 08/31/22 | 0.121000 |
164 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
D I S C L O S U R E O F IN V E S T M E N T AD V I S O R Y AG R E E M E N T S A N D SU B - AD V I S O R Y AG R E E M E N T S | 165 |
166 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
D I S C L O S U R E O F IN V E S T M E N T AD V I S O R Y AG R E E M E N T S A N D SU B - AD V I S O R Y AG R E E M E N T S | 167 |
168 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
D I S C L O S U R E O F IN V E S T M E N T AD V I S O R Y AG R E E M E N T S A N D SU B - AD V I S O R Y AG R E E M E N T S | 169 |
170 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
A D D I T I O N A L IN F O R M A T I O N | 171 |
172 | 2 0 2 2 BL A C K RO C K SE M I - AN N U A L RE P O R T T O SH A R E H O L D E R S |
Currency Abbreviation | ||
AUD | Australian Dollar | |
CAD | Canadian Dollar | |
CHF | Swiss Franc | |
DKK | Danish Krone | |
EUR | Euro | |
GBP | British Pound | |
HKD | Hong Kong Dollar | |
JPY | Japanese Yen | |
MXN | Mexican Peso | |
NOK | Norwegian Krone | |
SEK | Swedish Krona | |
SGD | Singapore Dollar | |
USD | United States Dollar | |
Portfolio Abbreviation | ||
ADR | American Depositary Receipt | |
GDR | Global Depositary Receipt | |
LP | Limited Partnership | |
PJSC | Public Joint Stock Company | |
REIT | Real Estate Investment Trust | |
S&P | Standard & Poor’s | |
SAB | Special Assessment Bonds |
G L O S S A R Y O F TE R M S US E D I N TH I S RE P O R T | 173 |
(b) Not Applicable
Item 2 – | Code of Ethics – Not Applicable to this semi-annual report |
Item 3 – | Audit Committee Financial Expert – Not Applicable to this semi-annual report |
Item 4 – | Principal Accountant Fees and Services – Not Applicable to this semi-annual report |
Item 5 – | Audit Committee of Listed Registrants – Not Applicable to this semi-annual report |
Item 6 – | Investments |
(a) The registrant’s Schedule of Investments is included as part of the Report to Stockholders filed under Item 1(a) of this Form.
(b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.
Item 7 – | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies – Not Applicable to this semi-annual report |
Item 8 – | Portfolio Managers of Closed-End Management Investment Companies |
(a) Not Applicable to this semi-annual report
(b) As of the date of this filing, there have been no changes in any of the portfolio managers identified in the most recent annual report on Form N-CSR.
Item 9 – | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers — Not Applicable due to no such purchases during the period covered by this report. |
Item 10 – | Submission of Matters to a Vote of Security Holders – There have been no material changes to these procedures. |
Item 11 – | Controls and Procedures |
(a) The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12 – | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies — Not applicable to this semi-annual report |
Item 13 – | Exhibits attached hereto |
(a)(1) Code of Ethics – Not Applicable to this semi-annual report
2
(a)(2) Section 302 Certifications are attached
(a)(3) Any written solicitation to purchase securities under Rule 23c-1 – Not Applicable
(a)(4) Change in Registrant’s independent public accountant – Not Applicable
(b) Section 906 Certifications are attached
(101) Inline Interactive Data File – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the inline XBRL document.
1 The Fund has received exemptive relief from the Securities and Exchange Commission permitting it to make periodic distributions of long-term capital gains with respect to its outstanding common stock as frequently as twelve times each year, and as frequently as distributions are specified by or in accordance with the terms of its outstanding preferred stock. This relief is conditioned, in part, on an undertaking by the Fund to make the disclosures to the holders of the Fund’s common shares, in addition to the information required by Section 19(a) of the 1940 Act and Rule 19a-1 thereunder. The Fund is likewise obligated to file with the SEC the information contained in any such notice to shareholders and, in that regard, has attached hereto copies of each such notice made during the period.
3
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BlackRock Science and Technology Trust
By: | /s/ John M. Perlowski | |||
John M. Perlowski | ||||
Chief Executive Officer (principal executive officer) of | ||||
BlackRock Science and Technology Trust |
Date: August 19, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ John M. Perlowski | |||
John M. Perlowski | ||||
Chief Executive Officer (principal executive officer) of | ||||
BlackRock Science and Technology Trust |
Date: August 19, 2022
By: | /s/ Trent Walker | |||
Trent Walker | ||||
Chief Financial Officer (principal financial officer) of | ||||
BlackRock Science and Technology Trust |
Date: August 19, 2022
4