# EDGAR Filing Document

**Accession Number:** 0001761055
**File Stem:** 0001410368-25-043449
**Filing Date:** 2025-12
**Character Count:** 40415
**Document Hash:** 0da6b9afb3b0149f3fb7cce5ae560d62
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-043449.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001410368-25-043449

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock ETF Trust
- **CENTRAL INDEX KEY:** 0001761055

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23402
- **FILM NUMBER:** 251606864

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 8004417762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

## Series and Classes Contracts Data

### iShares Large Cap Value Active ETF (Series ID: S000080410)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000242802 | iShares Large Cap Value Active ETF |  |

## Nport-Ex

October 31, 2025

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **BlackRock ETF Trust** |
| • iShares Large Cap Value Active ETF \| BLCV \| NYSE Arca |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

October 31, 2025

**iShares Large Cap Value Active ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Aerospace & Defense — 4.4%** | **Aerospace & Defense — 4.4%** | **Aerospace & Defense — 4.4%** |
| Boeing Co. (The)<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5542 | $1114053 |
| L3Harris Technologies Inc. | &nbsp;&nbsp;&nbsp; 4327 | 1250936 |
| RTX Corp. | &nbsp;&nbsp;&nbsp; 3566 | 636531 |
|  |  | 3001520 |
| **Automobile Components — 1.9%** | **Automobile Components — 1.9%** | **Automobile Components — 1.9%** |
| Aptiv PLC<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 16046 | 1301331 |
| **Automobiles — 2.0%** | **Automobiles — 2.0%** | **Automobiles — 2.0%** |
| General Motors Co. | &nbsp;&nbsp;&nbsp; 19305 | 1333782 |
| **Banks — 10.0%** | **Banks — 10.0%** | **Banks — 10.0%** |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp; 18421 | 984602 |
| Citigroup Inc. | &nbsp;&nbsp;&nbsp; 16607 | 1681127 |
| First Citizens BancShares Inc./NC, Class A | &nbsp;&nbsp;&nbsp; 760 | 1386863 |
| Flagstar Bank NA | &nbsp;&nbsp;&nbsp; 46249 | 528164 |
| Wells Fargo & Co. | &nbsp;&nbsp;&nbsp; 25565 | 2223388 |
|  |  | 6804144 |
| **Beverages — 1.9%** | **Beverages — 1.9%** | **Beverages — 1.9%** |
| Keurig Dr Pepper Inc. | &nbsp;&nbsp;&nbsp; 48217 | 1309574 |
| **Broadline Retail — 3.3%** | **Broadline Retail — 3.3%** | **Broadline Retail — 3.3%** |
| Amazon.com Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 9307 | 2272956 |
| **Building Products — 1.7%** | **Building Products — 1.7%** | **Building Products — 1.7%** |
| Fortune Brands Innovations Inc. | &nbsp;&nbsp;&nbsp; 23018 | 1169314 |
| **Capital Markets — 3.9%** | **Capital Markets — 3.9%** | **Capital Markets — 3.9%** |
| Charles Schwab Corp. (The) | &nbsp;&nbsp;&nbsp; 10925 | 1032631 |
| Intercontinental Exchange Inc. | &nbsp;&nbsp;&nbsp; 11121 | 1626891 |
|  |  | 2659522 |
| **Chemicals — 4.0%** | **Chemicals — 4.0%** | **Chemicals — 4.0%** |
| Air Products and Chemicals Inc. | &nbsp;&nbsp;&nbsp; 2682 | 650626 |
| Axalta Coating Systems Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 24720 | 703779 |
| PPG Industries Inc. | &nbsp;&nbsp;&nbsp; 13996 | 1368109 |
|  |  | 2722514 |
| **Communications Equipment — 2.2%** | **Communications Equipment — 2.2%** | **Communications Equipment — 2.2%** |
| Cisco Systems Inc. | &nbsp;&nbsp;&nbsp; 19954 | 1458837 |
| **Consumer Staples Distribution & Retail — 2.2%** | **Consumer Staples Distribution & Retail — 2.2%** | **Consumer Staples Distribution & Retail — 2.2%** |
| Dollar General Corp. | &nbsp;&nbsp;&nbsp; 15357 | 1515122 |
| **Diversified Telecommunication Services — 0.8%** | **Diversified Telecommunication Services — 0.8%** | **Diversified Telecommunication Services — 0.8%** |
| Verizon Communications Inc. | &nbsp;&nbsp;&nbsp; 13845 | 550200 |
| **Electric Utilities — 4.0%** | **Electric Utilities — 4.0%** | **Electric Utilities — 4.0%** |
| Evergy Inc. | &nbsp;&nbsp;&nbsp; 14668 | 1126649 |
| Exelon Corp. | &nbsp;&nbsp;&nbsp; 26072 | 1202440 |
| PG&E Corp. | &nbsp;&nbsp;&nbsp; 23134 | 369219 |
|  |  | 2698308 |
| **Entertainment — 2.5%** | **Entertainment — 2.5%** | **Entertainment — 2.5%** |
| Electronic Arts Inc. | &nbsp;&nbsp;&nbsp; 8472 | 1694908 |
| **Financial Services — 2.3%** | **Financial Services — 2.3%** | **Financial Services — 2.3%** |
| Fidelity National Information Services Inc. | &nbsp;&nbsp;&nbsp; 25003 | 1563188 |
| **Food Products — 3.0%** | **Food Products — 3.0%** | **Food Products — 3.0%** |
| Kraft Heinz Co. (The) | &nbsp;&nbsp;&nbsp; 43500 | 1075755 |
| Lamb Weston Holdings Inc. | &nbsp;&nbsp;&nbsp; 15837 | 977618 |
|  |  | 2053373 |
| **Health Care Equipment & Supplies — 6.8%** | **Health Care Equipment & Supplies — 6.8%** | **Health Care Equipment & Supplies — 6.8%** |
| Baxter International Inc. | &nbsp;&nbsp;&nbsp; 73126 | 1350637 |
| Becton Dickinson & Co. | &nbsp;&nbsp;&nbsp; 9211 | 1646098 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** | **Health Care Equipment & Supplies (continued)** |
| Medtronic PLC | &nbsp;&nbsp;&nbsp; 18175 | $1648472 |
|  |  | 4645207 |
| **Health Care Providers & Services — 5.6%** | **Health Care Providers & Services — 5.6%** | **Health Care Providers & Services — 5.6%** |
| Cardinal Health Inc. | &nbsp;&nbsp;&nbsp; 9255 | 1765576 |
| CVS Health Corp. | &nbsp;&nbsp;&nbsp; 13878 | 1084566 |
| Elevance Health Inc. | &nbsp;&nbsp;&nbsp; 3032 | 961750 |
|  |  | 3811892 |
| **Health Care REITs — 0.6%** | **Health Care REITs — 0.6%** | **Health Care REITs — 0.6%** |
| Healthcare Realty Trust Inc., Class A | &nbsp;&nbsp;&nbsp; 23943 | 424270 |
| **Industrial REITs — 0.9%** | **Industrial REITs — 0.9%** | **Industrial REITs — 0.9%** |
| Rexford Industrial Realty Inc. | &nbsp;&nbsp;&nbsp; 14182 | 586000 |
| **Insurance — 1.8%** | **Insurance — 1.8%** | **Insurance — 1.8%** |
| American International Group Inc. | &nbsp;&nbsp;&nbsp; 6041 | 476997 |
| Fidelity National Financial Inc. | &nbsp;&nbsp;&nbsp; 13724 | 758114 |
|  |  | 1235111 |
| **Interactive Media & Services — 2.8%** | **Interactive Media & Services — 2.8%** | **Interactive Media & Services — 2.8%** |
| Alphabet Inc., Class C, NVS | &nbsp;&nbsp;&nbsp; 5106 | 1438973 |
| Meta Platforms Inc., Class A | &nbsp;&nbsp;&nbsp; 687 | 445416 |
|  |  | 1884389 |
| **IT Services — 1.0%** | **IT Services — 1.0%** | **IT Services — 1.0%** |
| Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp; 8991 | 655264 |
| **Leisure Products — 1.6%** | **Leisure Products — 1.6%** | **Leisure Products — 1.6%** |
| Hasbro Inc. | &nbsp;&nbsp;&nbsp; 14223 | 1085357 |
| **Machinery — 0.8%** | **Machinery — 0.8%** | **Machinery — 0.8%** |
| Fortive Corp. | &nbsp;&nbsp;&nbsp; 10518 | 529476 |
| **Media — 1.3%** | **Media — 1.3%** | **Media — 1.3%** |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp; 32826 | 913712 |
| **Multi-Utilities — 1.0%** | **Multi-Utilities — 1.0%** | **Multi-Utilities — 1.0%** |
| Dominion Energy Inc. | &nbsp;&nbsp;&nbsp; 11140 | 653807 |
| **Oil, Gas & Consumable Fuels — 4.5%** | **Oil, Gas & Consumable Fuels — 4.5%** | **Oil, Gas & Consumable Fuels — 4.5%** |
| BP PLC, ADR | &nbsp;&nbsp;&nbsp; 38915 | 1367084 |
| Enterprise Products Partners LP | &nbsp;&nbsp;&nbsp; 41911 | 1290440 |
| Kosmos Energy Ltd.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 233956 | 367311 |
|  |  | 3024835 |
| **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** |
| Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp; 14035 | 646592 |
| **Professional Services — 4.9%** | **Professional Services — 4.9%** | **Professional Services — 4.9%** |
| Maximus Inc. | &nbsp;&nbsp;&nbsp; 16334 | 1357682 |
| SS&C Technologies Holdings Inc. | &nbsp;&nbsp;&nbsp; 23511 | 1996554 |
|  |  | 3354236 |
| **Semiconductors & Semiconductor Equipment — 0.6%** | **Semiconductors & Semiconductor Equipment — 0.6%** | **Semiconductors & Semiconductor Equipment — 0.6%** |
| Nvidia Corp. | &nbsp;&nbsp;&nbsp; 1945 | 393843 |
| **Software — 4.1%** | **Software — 4.1%** | **Software — 4.1%** |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp; 3380 | 1750198 |
| Workday Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4288 | 1028777 |
|  |  | 2778975 |
| **Specialized REITs — 1.3%** | **Specialized REITs — 1.3%** | **Specialized REITs — 1.3%** |
| Crown Castle Inc. | &nbsp;&nbsp;&nbsp; 9965 | 899042 |
| **Technology Hardware, Storage & Peripherals — 4.5%** | **Technology Hardware, Storage & Peripherals — 4.5%** | **Technology Hardware, Storage & Peripherals — 4.5%** |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp; 58620 | 1431500 |
| Western Digital Corp. | &nbsp;&nbsp;&nbsp; 10870 | 1632783 |
|  |  | 3064283 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Large Cap Value Active ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Tobacco — 0.9%** | **Tobacco — 0.9%** | **Tobacco — 0.9%** |
| British American Tobacco PLC, ADR, NVS | &nbsp;&nbsp;&nbsp; 11603 | $593958 |
| **Trading Companies & Distributors — 2.9%** | **Trading Companies & Distributors — 2.9%** | **Trading Companies & Distributors — 2.9%** |
| WESCO International Inc. | &nbsp;&nbsp;&nbsp; 7495 | 1945177 |
| **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** | **Wireless Telecommunication Services — 0.0%** |
| Rogers Communications Inc., Class B, NVS | &nbsp;&nbsp;&nbsp; 704 | 27555 |
| **Total Long-Term Investments — 99.0%** <br>**(Cost: $62,505,677)** | **Total Long-Term Investments — 99.0%** <br>**(Cost: $62,505,677)** | 67261574 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.1%** | **Money Market Funds — 1.1%** | **Money Market Funds — 1.1%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.05%<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 710000 | 710000 |
| **Total Short-Term Securities — 1.1%** <br>**(Cost: $710,000)** | **Total Short-Term Securities — 1.1%** <br>**(Cost: $710,000)** | 710000 |
| **Total Investments — 100.1%** <br>**(Cost: $63,215,677)** | **Total Investments — 100.1%** <br>**(Cost: $63,215,677)** | 67971574 |
| **Liabilities in Excess of Other Assets — (0.1)%** | **Liabilities in Excess of Other Assets — (0.1)%** | (56032)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $67915542 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> Affiliate of the Fund. <br> <sup>(c)</sup> Annualized 7-day yield as of period end.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/25*<br>| *Shares* <br>*Held at* <br>*10/31/25*<br>| *Income* | &nbsp;&nbsp; *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares<sup>(a)</sup><br>| $— | $0 <br><sup>(b)</sup><br>| $— | $— | $— | $— |  | $11 <br><sup>(c)</sup><br>| $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 1210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; (500000 )<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 710000 | 710000 | &nbsp;&nbsp; 9065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  | $— | $— | $710000 |  | $9076 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> As of period end, the entity is no longer held.

<sup>(b)</sup> Represents net amount purchased (sold).

<sup>(c)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of collateral investment fees, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End** 

Various inputs are used in determining the fair value of financial instruments at the measurement date. 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 that the Fund has the ability to access for identical assets or liabilities;

• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Large Cap Value Active ETF**

**Fair Value Hierarchy as of Period End (continued)**

or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; $67261574 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $67261574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 710000 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 710000 |
|  | &nbsp;&nbsp; $67971574 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $67971574 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| ADR | American Depositary Receipt |
| NVS | Non-Voting Shares |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** BlackRock ETF Trust

- **b. Investment Company Act file number:** 811-23402

- **c. CIK number of Registrant:** 0001761055

- **d. LEI of Registrant:** 5493007WBHAKV9JVS642

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 BELLEVUE PARKWAY

  - **City:** WILMINGTON

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

**Item A.2. Information about the Series.**

- **a. Name of Series:** iShares Large Cap Value Active ETF

- **b. EDGAR series identifier (if any):** S000080410

- **c. LEI of Series:** 529900S9V60MJQ95RK79

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $67587032.59

**Total Liabilities:** $31522.61

**Net Assets:** $67555509.98

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000242802 | 3.53%                | 0.30%                | 0.20%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $47469.90                | $1756690.68                                |
| Month 2  | $636841.09               | $-523013.61                                |
| Month 3  | $205746.02               | $-162053.10                                |

### Schedule of Portfolio Investments

| Name                                           | Title                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Air Products and Chemicals Inc                 | Air Products and Chemicals Inc                   | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |      2668 | NS      | $647230.12    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                   | Alphabet Inc                                     | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      5079 | NS      | $1431363.78   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                 | Amazon.com Inc                                   | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      9258 | NS      | $2260988.76   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group Inc               | American International Group Inc                 | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      6041 | NS      | $476997.36    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                            | Elevance Health Inc                              | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      3032 | NS      | $961750.40    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BP PLC                                         | BP PLC                                           | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |     38709 | NS      | $1359847.17   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                           | Bank of America Corp                             | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     18324 | NS      | $979417.80    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Baxter International Inc                       | Baxter International Inc                         | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |     72739 | NS      | $1343489.33   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co                          | Becton Dickinson & Co                            | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |      9162 | NS      | $1637341.02   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                                  | Boeing Co/The                                    | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      5513 | NS      | $1108223.26   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                        | Bristol-Myers Squibb Co                          | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     13961 | NS      | $643183.27    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| British American Tobacco PLC                   | British American Tobacco PLC                     | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |     11542 | NS      | $590834.98    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                                | CVS Health Corp                                  | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     12295 | NS      | $960854.25    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc                            | Cardinal Health Inc                              | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |      9206 | NS      | $1756228.62   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                              | Cisco Systems Inc                                | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     19848 | NS      | $1451087.28   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                                  | Citigroup Inc                                    | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     16607 | NS      | $1681126.61   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp            | Cognizant Technology Solutions Corp              | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |      8943 | NS      | $651765.84    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                                   | Comcast Corp                                     | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     32652 | NS      | $908868.42    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                               | Crown Castle Inc                                 | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |      9912 | NS      | $894260.64    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp                            | Dollar General Corp                              | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |     15276 | NS      | $1507130.16   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                            | Dominion Energy Inc                              | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     11081 | NS      | $650343.89    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc                            | Electronic Arts Inc                              | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      8427 | NS      | $1685905.62   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners LP                | Enterprise Products Partners LP                  | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     41689 | NS      | $1283604.31   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                                     | Evergy Inc                                       | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     14590 | NS      | $1120657.90   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                                    | Exelon Corp                                      | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     25934 | NS      | $1196076.08   | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                             | Meta Platforms Inc                               | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |       683 | NS      | $442823.05    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information Services Inc     | Fidelity National Information Services Inc       | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     24871 | NS      | $1554934.92   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial Inc                | Fidelity National Financial Inc                  | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |     13651 | NS      | $754081.24    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| First Citizens BancShares Inc/NC               | First Citizens BancShares Inc/NC                 | CUSIP: 31946M103<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EC               | CORP              | US        |       756 | NS      | $1379563.92   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corp                                   | Fortive Corp                                     | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |     10462 | NS      | $526657.08    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortune Brands Innovations Inc                 | Fortune Brands Innovations Inc                   | CUSIP: 34964C106<br>LEI: 54930032LHW54PQUJD44 | Long             | EC               | CORP              | US        |     22896 | NS      | $1163116.80   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co                              | General Motors Co                                | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |     19203 | NS      | $1326735.27   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Hasbro Inc                                     | Hasbro Inc                                       | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |     14148 | NS      | $1079633.88   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                    | Healthcare Realty Trust Inc                      | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               |  | US        |     23816 | NS      | $422019.52    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co                  | Hewlett Packard Enterprise Co                    | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |     58310 | NS      | $1423930.20   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                  | Intercontinental Exchange Inc                    | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     11062 | NS      | $1618259.98   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                           | Keurig Dr Pepper Inc                             | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |     47962 | NS      | $1302647.92   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Kosmos Energy Ltd                              | Kosmos Energy Ltd                                | CUSIP: 500688106<br>LEI: 213800YDFJ3OT9B5P157 | Long             | EC               | CORP              | US        |    232718 | NS      | $365367.26    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The                             | Kraft Heinz Co/The                               | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     43270 | NS      | $1070067.10   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc                      | L3Harris Technologies Inc                        | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      4304 | NS      | $1244286.40   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc                       | Lamb Weston Holdings Inc                         | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     15753 | NS      | $972432.69    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                                    | Maximus Inc                                      | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     16248 | NS      | $1350533.76   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                 | Microsoft Corp                                   | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      3362 | NS      | $1740877.22   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Flagstar Bank NA                               | Flagstar Bank NA                                 | CUSIP: 649445400<br>LEI: SS1TRMSN6BRNMOREEV51 | Long             | EC               | CORP              | US        |     46004 | NS      | $525365.68    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                    | NVIDIA Corp                                      | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      1935 | NS      | $391818.15    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                                      | PG&E Corp                                        | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |     23012 | NS      | $367271.52    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| PPG Industries Inc                             | PPG Industries Inc                               | CUSIP: 693506107<br>LEI: 549300BKPEP01R3V6C59 | Long             | EC               | CORP              | US        |     13922 | NS      | $1360875.50   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                                       | RTX Corp                                         | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      3547 | NS      | $633139.50    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                  | Rexford Industrial Realty Inc                    | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               |  | US        |     14107 | NS      | $582901.24    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Communications Inc                      | Rogers Communications Inc                        | CUSIP: 775109200<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | EC               | CORP              | CA        |       700 | NS      | $27398.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc                 | SS&C Technologies Holdings Inc                   | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |     23387 | NS      | $1986024.04   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The                        | Charles Schwab Corp/The                          | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     10867 | NS      | $1027148.84   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                     | Verizon Communications Inc                       | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     13772 | NS      | $547299.28    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                               | Wells Fargo & Co                                 | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     25430 | NS      | $2211647.10   | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| WESCO International Inc                        | WESCO International Inc                          | CUSIP: 95082P105<br>LEI: 529900TXOGREY3WNJ434 | Long             | EC               | CORP              | US        |      7455 | NS      | $1934796.15   | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp                           | Western Digital Corp                             | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |     10812 | NS      | $1624070.52   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | BlackRock Cash Funds: Treasury, SL Agency Shares | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |    710000 | NS      | $710000.00    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                    | Workday Inc                                      | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      4265 | NS      | $1023258.80   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Axalta Coating Systems Ltd                     | Axalta Coating Systems Ltd                       | CUSIP: 000000000<br>LEI: 529900AGLPA40GV6H619 | Long             | EC               | CORP              | BM        |     24589 | NS      | $700048.83    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                                      | Aptiv PLC                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JE        |     15962 | NS      | $1294518.20   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                  | Medtronic PLC                                    | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     18079 | NS      | $1639765.30   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** BlackRock ETF Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer