Schedule of Investments (unaudited) April 30, 2022 | BlackRock Future Climate and Sustainable Economy ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Building Products — 5.3% | ||||||||
Cie. de Saint-Gobain | 1,495 | $ | 87,215 | |||||
Johnson Controls International PLC | 710 | 42,508 | ||||||
Kingspan Group PLC | 437 | 40,679 | ||||||
Trane Technologies PLC | 192 | 26,859 | ||||||
Trex Co. Inc.(a) | 583 | 33,925 | ||||||
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231,186 | ||||||||
Capital Markets — 1.8% | ||||||||
Agronomics Ltd.(a) | 339,553 | 76,428 | ||||||
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Chemicals — 18.2% | ||||||||
Ecolab Inc. | 408 | 69,091 | ||||||
FMC Corp. | 1,280 | 169,651 | ||||||
Koninklijke DSM NV | 679 | 114,146 | ||||||
Nutrien Ltd. | 1,727 | 169,678 | ||||||
Robertet SA | 92 | 85,700 | ||||||
Sika AG, Registered | 128 | 39,098 | ||||||
SK IE Technology Co. Ltd.(a)(b) | 288 | 28,369 | ||||||
Symrise AG | 932 | 110,903 | ||||||
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786,636 | ||||||||
Commercial Services & Supplies — 3.7% | ||||||||
Cleanaway Waste Management Ltd. | 25,309 | 56,731 | ||||||
Republic Services Inc. | 173 | 23,229 | ||||||
Tomra Systems ASA | 999 | 39,286 | ||||||
Waste Management Inc. | 259 | 42,590 | ||||||
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161,836 | ||||||||
Construction & Engineering — 0.9% | ||||||||
Quanta Services Inc. | 339 | 39,317 | ||||||
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Containers & Packaging — 6.9% | ||||||||
Ball Corp. | 1,097 | 89,033 | ||||||
Crown Holdings Inc. | 1,104 | 121,484 | ||||||
SIG Group AG | 4,272 | 89,436 | ||||||
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299,953 | ||||||||
Electric Utilities — 5.3% | ||||||||
Enel SpA | 17,765 | 115,524 | ||||||
NextEra Energy Inc. | 1,626 | 115,478 | ||||||
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231,002 | ||||||||
Electrical Equipment — 6.2% | ||||||||
Ballard Power Systems Inc.(a)(c) | 2,022 | 16,783 | ||||||
ITM Power PLC(a) | 5,124 | 21,110 | ||||||
Prysmian SpA | 1,013 | 32,948 | ||||||
Schneider Electric SE | 666 | 95,550 | ||||||
Sunrun Inc.(a) | 1,075 | 21,478 | ||||||
Vestas Wind Systems A/S | 2,078 | 52,991 | ||||||
Xinjiang Goldwind Science & Technology Co. Ltd., Class H | 19,400 | 27,574 | ||||||
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268,434 | ||||||||
Electronic Equipment, Instruments & Components — 4.8% | ||||||||
Keyence Corp. | 100 | 40,201 | ||||||
Samsung SDI Co. Ltd. | 235 | 111,943 | ||||||
Zebra Technologies Corp., Class A(a) | 150 | 55,449 | ||||||
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207,593 | ||||||||
Food & Staples Retailing — 1.9% | ||||||||
HelloFresh SE(a) | 1,274 | 53,704 | ||||||
Ocado Group PLC(a) | 2,306 | 26,373 | ||||||
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80,077 | ||||||||
Food Products — 11.2% | ||||||||
Bunge Ltd. | 1,130 | 127,826 |
Security | Shares | Value | ||||||
Food Products (continued) | ||||||||
Darling Ingredients Inc.(a) | 566 | $ | 41,539 | |||||
Kerry Group PLC, Class A | 984 | 108,997 | ||||||
Maple Leaf Foods Inc. | 2,230 | 49,108 | ||||||
Salmar ASA | 1,925 | 157,522 | ||||||
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484,992 | ||||||||
Independent Power and Renewable Electricity Producers — 3.5% | ||||||||
EDP Renovaveis SA | 5,244 | 124,110 | ||||||
Scatec ASA(b) | 2,144 | 25,914 | ||||||
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150,024 | ||||||||
Machinery — 12.9% | ||||||||
Ag Growth International Inc. | 2,856 | 86,459 | ||||||
AGCO Corp. | 655 | 83,447 | ||||||
Atlas Copco AB, Class A | 572 | 25,933 | ||||||
Deere & Co. | 416 | 157,061 | ||||||
Evoqua Water Technologies Corp.(a) | 1,661 | 69,247 | ||||||
Ingersoll Rand Inc. | 843 | 37,058 | ||||||
John Bean Technologies Corp. | 478 | 56,352 | ||||||
Marel HF(b) | 7,635 | 40,165 | ||||||
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555,722 | ||||||||
Metals & Mining — 0.9% | ||||||||
Sims Ltd. | 2,615 | 37,810 | ||||||
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Paper & Forest Products — 3.6% | ||||||||
Mondi PLC | 3,149 | 59,157 | ||||||
UPM-Kymmene Oyj | 2,749 | 95,094 | ||||||
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154,251 | ||||||||
Professional Services — 1.3% | ||||||||
Bureau Veritas SA | 1,896 | 54,466 | ||||||
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Semiconductors & Semiconductor Equipment — 4.9% | ||||||||
Analog Devices Inc. | 221 | 34,118 | ||||||
Canadian Solar Inc.(a) | 1,174 | 32,309 | ||||||
First Solar Inc.(a)(c) | 418 | 30,527 | ||||||
Infineon Technologies AG | 3,022 | 85,774 | ||||||
ON Semiconductor Corp.(a) | 577 | 30,067 | ||||||
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212,795 | ||||||||
Software — 2.6% | ||||||||
ANSYS Inc.(a) | 105 | 28,948 | ||||||
Autodesk Inc.(a) | 267 | 50,538 | ||||||
Dassault Systemes SE | 701 | 31,001 | ||||||
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110,487 | ||||||||
Specialty Retail — 0.8% | ||||||||
TJX Companies Inc. (The) | 573 | 35,114 | ||||||
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Total Common Stocks — 96.7% | 4,178,123 | |||||||
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Warrants | ||||||||
Capital Markets — 0.3% | ||||||||
Agronomics Ltd., (Expires 12/08/23)(a) | 329,052 | 11,436 | ||||||
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Total Warrants — 0.3% | 11,436 | |||||||
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Short-Term Investments | ||||||||
Money Market Funds — 3.0% | ||||||||
BlackRock Cash Funds: Institutional, | 47,961 | 47,961 |
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Schedule of Investments (unaudited) (continued) April 30, 2022 | BlackRock Future Climate and Sustainable Economy ETF (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Money Market Funds (continued) | ||||||||
BlackRock Cash Funds: Treasury, SL Agency Shares, 0.34%(d)(e) | 80,000 | $ | 80,000 | |||||
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127,961 | ||||||||
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Total Short-Term Investments — 3.0% | 127,961 | |||||||
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Total Investments in Securities — 100.0% | 4,317,520 | |||||||
Other Assets, Less Liabilities — 0.0% | 858 | |||||||
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Net Assets — 100.0% | $ | 4,318,378 | ||||||
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(a) | Non-income producing security. |
(b) | 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. |
(c) | All or a portion of this security is on loan. |
(d) | Affiliate of the Fund. |
(e) | Annualized 7-day yield as of period end. |
(f) | All or a portion of this security was purchased with the cash collateral from loaned securities. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | | Value at 08/03/21 | (a) | | Purchases at Cost | | Proceeds from Sales | | Net Realized Gain (Loss) | | Change in Unrealized Appreciation (Depreciation) | | Value at 04/30/22 | | Shares Held at 04/30/22 | Income | | Capital Gain Distributions from Underlying Funds | ||||||||||||||||||
BlackRock Cash Funds: Institutional, | $ | — | $ | 47,989 | (b) | $ | — | $ | (29 | ) | $ | 1 | $ | 47,961 | 47,961 | $ | 73 | (c) | $ | — | ||||||||||||||||
BlackRock Cash Funds: Treasury, | — | 80,000 | (b) | — | — | — | 80,000 | 80,000 | 50 | — | ||||||||||||||||||||||||||
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$ | (29 | ) | $ | 1 | $ | 127,961 | $ | 123 | $ | — | ||||||||||||||||||||||||||
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(a) | Commencement of operations. |
(b) | Represents net amount purchased (sold). |
(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. |
Fair Value Measurements
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
• | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that each Fund has the ability to access; |
• | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and |
• | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities.
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Schedule of Investments (unaudited) (continued) April 30, 2022 | BlackRock Future Climate and Sustainable Economy ETF |
Fair Value Measurements (continued)
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments | ||||||||||||||||
Assets | ||||||||||||||||
Common Stocks | $ | 2,257,393 | $ | 1,920,730 | $ | — | $ | 4,178,123 | ||||||||
Warrants | — | 11,436 | — | 11,436 | ||||||||||||
Money Market Funds | 127,961 | — | — | 127,961 | ||||||||||||
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$ | 2,385,354 | $ | 1,932,166 | $ | — | $ | 4,317,520 | |||||||||
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3 |