Company: BDJ
Filing Date: 2025-09-04
Form Type: N-CSRS
Source: 0001193125-25-196068
Chunk: 29

Company: BlackRock Enhanced Equity Dividend Trust
Filing Date: 2025-09-04
Form: N-CSRS
Chunk 29
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 one or more indices for informational purposes only. The Trust is actively managed and does not seek to track or replicate the performance of any index. The index performance shown is not intended to be indicative of the Trust’s investment strategies, portfolio components or past or future performance. More information about the Trust’s historical performance can be found in the “Closed End Funds” section of blackrock.com . The following discussion relates to the Trust’s relative performance based on NAV: What factors influenced performance? At the sector level, an overweight allocation and stock selection in the internet sub-sector contributed to performance. Selection in software and an out-of-benchmark allocation to semiconductor stocks were the largest detractors.

Trust Summary 25

Trust Summary as of June 30, 2025 (continued) BlackRock Science and Technology Trust (BST) At the individual holding level, an out-of-benchmark position in Apple, Inc. was the largest contributor to relative performance. Late in the period, the stock rose due to stronger-than-expected U.S. consumer adoption, record-high iPhone upgrade intentions, and anticipation of new iPhone hardware designs. An overweight in the defense technology company Anduril Industries, Inc., which benefited from new government contracts and adoption of its innovative, AI-powered, autonomous systems, was an additional contributor of note. An overweight in MNTN, Inc., an advertising software company, further contributed. The shares rose as analysts upgraded the stock based on its innovative AI-driven advertising platform and expanding market presence. An out-of-benchmark position in Tesla, Inc., which came under pressure from slowing sales, was the largest individual detractor. An underweight in Microsoft Corp. detracted, as well. The stock rose sharply on the strength of robust AI and cloud growth, as well as improving operating margins. An underweight in NVIDIA, Inc. was an additional detractor of note, as the shares rallied due to record-high demand for AI chips. The Trust used an options overlay strategy in which calls were written on a portion of the portfolio’s holdings. The Trust’s options overlay strategy contributed to relative performance. The Trust’s practice of maintaining a speciﬁed level of monthly distributions to shareholders did not have a material impact on the Trust’s investment strategy. Describe recent portfolio activity. The investment adviser increased the Trust’s allocations to the services and internet sub-sectors. It reduced the portfolio’s weightings in the semiconductors, content and infrastructure, hardware, and software sub-sectors. The Trust made four additional investments in private technology companies. Describe portfolio