# EDGAR Filing Document

**Accession Number:** 0001761055
**File Stem:** 0001410368-25-043408
**Filing Date:** 2025-12
**Character Count:** 65634
**Document Hash:** a3c2ad4181126201de207b01cc9afe58
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-043408.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001410368-25-043408

**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:** 251606809

**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 U.S. Equity Factor Rotation Active ETF (Series ID: S000064945)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000210296 | iShares U.S. Equity Factor Rotation Active ETF | DYNF            |

## 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 U.S. Equity Factor Rotation Active ETF \| DYNF \| 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 U.S. Equity Factor Rotation 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** |
| **Communication Services — 12.9%** | **Communication Services — 12.9%** | **Communication Services — 12.9%** |
| Alphabet Inc., Class A | &nbsp;&nbsp;&nbsp; 3153765 | $886807180 |
| Alphabet Inc., Class C, NVS | &nbsp;&nbsp;&nbsp; 1966395 | 554169439 |
| AT&T Inc. | &nbsp;&nbsp;&nbsp; 12009837 | 297243466 |
| Comcast Corp., Class A | &nbsp;&nbsp;&nbsp; 9263195 | 257841033 |
| Fox Corp., Class A, NVS | &nbsp;&nbsp;&nbsp; 104229 | 6738405 |
| Meta Platforms Inc., Class A | &nbsp;&nbsp;&nbsp; 1434212 | 929871350 |
| Netflix Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 448780 | 502121991 |
| ROBLOX Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 503421 | 57249036 |
| T-Mobile U.S. Inc. | &nbsp;&nbsp;&nbsp; 836 | 175602 |
| Verizon Communications Inc. | &nbsp;&nbsp;&nbsp; 5525370 | 219578204 |
| Walt Disney Co. (The) | &nbsp;&nbsp;&nbsp; 259143 | 29184684 |
|  |  | 3740980390 |
| **Consumer Discretionary — 9.4%** | **Consumer Discretionary — 9.4%** | **Consumer Discretionary — 9.4%** |
| Amazon.com Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5403680 | 1319686730 |
| Booking Holdings Inc. | &nbsp;&nbsp;&nbsp; 76433 | 388106901 |
| Carvana Co., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 9287 | 2846837 |
| Coupang Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 45 | 1439 |
| General Motors Co. | &nbsp;&nbsp;&nbsp; 517776 | 35773144 |
| Hilton Worldwide Holdings Inc. | &nbsp;&nbsp;&nbsp; 720 | 185011 |
| Home Depot Inc. (The) | &nbsp;&nbsp;&nbsp; 552831 | 209849119 |
| Lennar Corp., Class A | &nbsp;&nbsp;&nbsp; 142848 | 17680297 |
| Macy's Inc. | &nbsp;&nbsp;&nbsp; 90 | 1754 |
| McDonald's Corp. | &nbsp;&nbsp;&nbsp; 152 | 45361 |
| Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;&nbsp; 208844 | 59902725 |
| Tesla Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1535598 | 701092623 |
|  |  | 2735171941 |
| **Consumer Staples — 2.4%** | **Consumer Staples — 2.4%** | **Consumer Staples — 2.4%** |
| Altria Group Inc. | &nbsp;&nbsp;&nbsp; 4 | 226 |
| Coca-Cola Co. (The) | &nbsp;&nbsp;&nbsp; 1140 | 78546 |
| Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp; 265217 | 241732035 |
| Philip Morris International Inc. | &nbsp;&nbsp;&nbsp; 2288 | 330227 |
| Procter & Gamble Co. (The) | &nbsp;&nbsp;&nbsp; 876528 | 131803515 |
| Walmart Inc. | &nbsp;&nbsp;&nbsp; 3277017 | 331568580 |
|  |  | 705513129 |
| **Energy — 1.7%** | **Energy — 1.7%** | **Energy — 1.7%** |
| Chevron Corp. | &nbsp;&nbsp;&nbsp; 444 | 70028 |
| ConocoPhillips | &nbsp;&nbsp;&nbsp; 123871 | 11007177 |
| Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp; 4221094 | 482724310 |
| Valero Energy Corp. | &nbsp;&nbsp;&nbsp; 44 | 7460 |
|  |  | 493808975 |
| **Financials — 16.9%** | **Financials — 16.9%** | **Financials — 16.9%** |
| Allstate Corp. (The) | &nbsp;&nbsp;&nbsp; 192729 | 36911458 |
| American Express Co. | &nbsp;&nbsp;&nbsp; 8 | 2886 |
| American International Group Inc. | &nbsp;&nbsp;&nbsp; 2976127 | 234994988 |
| Bank of America Corp. | &nbsp;&nbsp;&nbsp; 9465505 | 505931242 |
| Berkshire Hathaway Inc., Class B<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1525865 | 728661572 |
| Capital One Financial Corp. | &nbsp;&nbsp;&nbsp; 1420108 | 312409559 |
| Citigroup Inc. | &nbsp;&nbsp;&nbsp; 3348628 | 338981613 |
| Goldman Sachs Group Inc. (The) | &nbsp;&nbsp;&nbsp; 397695 | 313928502 |
| Hartford Insurance Group Inc. (The) | &nbsp;&nbsp;&nbsp; 2887589 | 358580802 |
| Huntington Bancshares Inc./Ohio | &nbsp;&nbsp;&nbsp; 416931 | 6437415 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp; 3750310 | 1166796447 |
| Mastercard Inc., Class A | &nbsp;&nbsp;&nbsp; 620 | 342234 |
| MetLife Inc. | &nbsp;&nbsp;&nbsp; 44 | 3512 |
| Morgan Stanley | &nbsp;&nbsp;&nbsp; 24 | 3936 |
| NU Holdings Ltd./Cayman Islands, Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 315 | 5075 |
| Progressive Corp. (The) | &nbsp;&nbsp;&nbsp; 819690 | 168856140 |
| Robinhood Markets Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 140313 | 20595142 |
| SoFi Technologies Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1031603 | 30617977 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| Travelers Companies Inc. (The) | &nbsp;&nbsp;&nbsp; 1346267 | $361634242 |
| Visa Inc., Class A | &nbsp;&nbsp;&nbsp; 696787 | 237423202 |
| Wells Fargo & Co. | &nbsp;&nbsp;&nbsp; 1049553 | 91279624 |
|  |  | 4914397568 |
| **Health Care — 5.5%** | **Health Care — 5.5%** | **Health Care — 5.5%** |
| AbbVie Inc. | &nbsp;&nbsp;&nbsp; 151442 | 33020414 |
| Boston Scientific Corp.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2159109 | 217465459 |
| Contra Abiomed Inc.<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 53 | 122 |
| Eli Lilly & Co. | &nbsp;&nbsp;&nbsp; 105765 | 91260388 |
| Exelixis Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 151366 | 5853323 |
| Gilead Sciences Inc. | &nbsp;&nbsp;&nbsp; 932684 | 111726216 |
| Intuitive Surgical Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 344001 | 183792854 |
| Johnson & Johnson | &nbsp;&nbsp;&nbsp; 2536975 | 479158468 |
| Medtronic PLC | &nbsp;&nbsp;&nbsp; 493967 | 44802807 |
| Merck & Co. Inc. | &nbsp;&nbsp;&nbsp; 1496 | 128626 |
| Pfizer Inc. | &nbsp;&nbsp;&nbsp; 7889854 | 194484901 |
| Thermo Fisher Scientific Inc. | &nbsp;&nbsp;&nbsp; 311959 | 177002417 |
| UnitedHealth Group Inc. | &nbsp;&nbsp;&nbsp; 199828 | 68253252 |
|  |  | 1606949247 |
| **Industrials — 6.7%** | **Industrials — 6.7%** | **Industrials — 6.7%** |
| Automatic Data Processing Inc. | &nbsp;&nbsp;&nbsp; 187204 | 48729201 |
| Caterpillar Inc. | &nbsp;&nbsp;&nbsp; 436751 | 252118882 |
| Deere & Co. | &nbsp;&nbsp;&nbsp; 456541 | 210753022 |
| Eaton Corp. PLC | &nbsp;&nbsp;&nbsp; 630932 | 240738414 |
| GE Vernova Inc. | &nbsp;&nbsp;&nbsp; 157748 | 92304665 |
| General Electric Co. | &nbsp;&nbsp;&nbsp; 570334 | 176204689 |
| Honeywell International Inc. | &nbsp;&nbsp;&nbsp; 73664 | 14830773 |
| PACCAR Inc. | &nbsp;&nbsp;&nbsp; 44 | 4330 |
| Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp; 517651 | 400056222 |
| RTX Corp. | &nbsp;&nbsp;&nbsp; 1191268 | 212641338 |
| Trane Technologies PLC | &nbsp;&nbsp;&nbsp; 507636 | 227750891 |
| Uber Technologies Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 379187 | 36591546 |
| Union Pacific Corp. | &nbsp;&nbsp;&nbsp; 208356 | 45915412 |
| United Parcel Service Inc., Class B | &nbsp;&nbsp;&nbsp; 8 | 771 |
| Waste Management Inc. | &nbsp;&nbsp;&nbsp; 8 | 1598 |
|  |  | 1958641754 |
| **Information Technology — 38.8%** | **Information Technology — 38.8%** | **Information Technology — 38.8%** |
| Advanced Micro Devices Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 979364 | 250834708 |
| Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp; 1584005 | 220715257 |
| Apple Inc. | &nbsp;&nbsp;&nbsp; 8671307 | 2344461273 |
| Applied Materials Inc. | &nbsp;&nbsp;&nbsp; 1172576 | 273327466 |
| AppLovin Corp., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 196466 | 125213676 |
| Astera Labs Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 48075 | 8974641 |
| Broadcom Inc. | &nbsp;&nbsp;&nbsp; 2367450 | 875080543 |
| Cisco Systems Inc. | &nbsp;&nbsp;&nbsp; 11795133 | 862342174 |
| Corning Inc. | &nbsp;&nbsp;&nbsp; 896796 | 79886588 |
| Crowdstrike Holdings Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 25734 | 13973819 |
| Dell Technologies Inc., Class C | &nbsp;&nbsp;&nbsp; 44 | 7128 |
| Fortinet Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 122551 | 10592083 |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp; 287 | 7008 |
| International Business Machines Corp. | &nbsp;&nbsp;&nbsp; 704 | 216417 |
| Intuit Inc. | &nbsp;&nbsp;&nbsp; 8 | 5340 |
| Micron Technology Inc. | &nbsp;&nbsp;&nbsp; 794589 | 177805180 |
| Microsoft Corp. | &nbsp;&nbsp;&nbsp; 3980960 | 2061380897 |
| Nutanix Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 90 | 6412 |
| Nvidia Corp. | &nbsp;&nbsp;&nbsp; 13109167 | 2654475226 |
| Oracle Corp. | &nbsp;&nbsp;&nbsp; 737400 | 193648614 |
| Palantir Technologies Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1753325 | 351489063 |
| Qualcomm Inc. | &nbsp;&nbsp;&nbsp; 2772 | 501455 |
| Salesforce Inc. | &nbsp;&nbsp;&nbsp; 1853860 | 482763683 |
| Seagate Technology Holdings PLC | &nbsp;&nbsp;&nbsp; 107690 | 27555717 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares U.S. Equity Factor Rotation Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Information Technology (continued)** | **Information Technology (continued)** | **Information Technology (continued)** |
| ServiceNow Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 188303 | $173103182 |
| Snowflake Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 20 | 5498 |
| Strategy Inc., Class A<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 93416 | 25176546 |
| Western Digital Corp. | &nbsp;&nbsp;&nbsp; 302206 | 45394363 |
|  |  | 11258943957 |
| **Materials — 0.5%** | **Materials — 0.5%** | **Materials — 0.5%** |
| CRH PLC | &nbsp;&nbsp;&nbsp; 287482 | 34239106 |
| Newmont Corp. | &nbsp;&nbsp;&nbsp; 1266748 | 102568586 |
| Solstice Advanced Materials Inc.<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 18416 | 830009 |
|  |  | 137637701 |
| **Real Estate — 2.2%** | **Real Estate — 2.2%** | **Real Estate — 2.2%** |
| Millrose Properties Inc. | &nbsp;&nbsp;&nbsp; 4 | 129 |
| Prologis Inc. | &nbsp;&nbsp;&nbsp; 1597020 | 198174212 |
| Realty Income Corp. | &nbsp;&nbsp;&nbsp; 4481740 | 259851285 |
| VICI Properties Inc., Class A | &nbsp;&nbsp;&nbsp; 131615 | 3947134 |
| Welltower Inc. | &nbsp;&nbsp;&nbsp; 898230 | 162615559 |
|  |  | 624588319 |
| **Utilities — 2.4%** | **Utilities — 2.4%** | **Utilities — 2.4%** |
| Duke Energy Corp. | &nbsp;&nbsp;&nbsp; 3822220 | 475101946 |
| Exelon Corp. | &nbsp;&nbsp;&nbsp; 1569004 | 72362465 |
| NextEra Energy Inc. | &nbsp;&nbsp;&nbsp; 1893915 | 154164681 |
| NRG Energy Inc. | &nbsp;&nbsp;&nbsp; 6977 | 1199067 |
| Southern Co. (The) | &nbsp;&nbsp;&nbsp; 1052 | 98930 |
| Vistra Corp. | &nbsp;&nbsp;&nbsp; 349 | 65717 |
|  |  | 702992806 |
| **Total Long-Term Investments — 99.4%** <br>**(Cost: $23,795,684,516)** | **Total Long-Term Investments — 99.4%** <br>**(Cost: $23,795,684,516)** | 28879625787 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.2%** | **Money Market Funds — 0.2%** | **Money Market Funds — 0.2%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 4.27%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;&nbsp; 27361549 | $27375230 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.05%<sup>(d)(e)</sup><br>| &nbsp;&nbsp;&nbsp; 35510000 | 35510000 |
| **Total Short-Term Securities — 0.2%** <br>**(Cost: $62,885,172)** | **Total Short-Term Securities — 0.2%** <br>**(Cost: $62,885,172)** | 62885230 |
| **Total Investments — 99.6%** <br>**(Cost: $23,858,569,688)** | **Total Investments — 99.6%** <br>**(Cost: $23,858,569,688)** | 28942511017 |
| **Other Assets Less Liabilities — 0.4%** | **Other Assets Less Liabilities — 0.4%** | 107927193 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $29050438210 |

---

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

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion of this security is on loan.

<sup>(c)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> 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 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>| *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 <br> Agency Shares<br>| $574019 | $26803995 <br><sup>(a)</sup><br>| $— | &nbsp;&nbsp; $(2842)<br>| $58 | $27375230 | 27361549 | $12210 <br><sup>(b)</sup><br>| $— |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| 170520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; (135010000 )<sup>(a)</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; 35510000 | 35510000 | &nbsp;&nbsp; 2011906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  | $(2842) | $58 | $62885230 |  | $2024116 | $— |

---

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

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

<sup>(b)</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).

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares U.S. Equity Factor Rotation Active ETF**

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

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds 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; $28879625665 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $122 | &nbsp;&nbsp; $28879625787 |
| &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; 62885230 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 62885230 |
|  | &nbsp;&nbsp; $28942510895 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $122 | &nbsp;&nbsp; $28942511017 |

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| 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 U.S. Equity Factor Rotation Active ETF

- **b. EDGAR series identifier (if any):** S000064945

- **c. LEI of Series:** 549300GSJ4RMBYLWSX89

**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:** $29089951372.46

**Total Liabilities:** $103715677.39

**Net Assets:** $28986235695.07

**Cash Not Reported:** $3264.43

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000210296 | 2.17%                | 3.65%                | 2.80%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2397373.19             | $453503894.24                              |
| Month 2  | $35881733.14             | $815420713.55                              |
| Month 3  | $95483802.02             | $670917393.30                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AT&T Inc                                       | AT&T Inc                                              | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |  11983419 | NS      | $296589620.25  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                     | AbbVie Inc                                            | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    151106 | NS      | $32947152.24   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTRA ABIOMED INC                             | CONTRA ABIOMED INC                                    | CUSIP: 003CVR016<br>LEI: N/A                  | Long             |  | CORP              | US        |        53 | NS      | $122.43        | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Advanced Micro Devices Inc                     | Advanced Micro Devices Inc                            | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    977201 | NS      | $250280720.12  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp/The                              | Allstate Corp/The                                     | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |    192309 | NS      | $36831019.68   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                   | Alphabet Inc                                          | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   1962069 | NS      | $552950285.58  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                                   | Alphabet Inc                                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   3146835 | NS      | $884858533.65  | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc                               | Altria Group Inc                                      | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |         4 | NS      | $225.52        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                                 | Amazon.com Inc                                        | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   5391794 | NS      | $1316783930.68 | 4.54%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                            | American Express Co                                   | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |         8 | NS      | $2885.84       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group Inc               | American International Group Inc                      | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |   2976127 | NS      | $234994987.92  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                                  | Amphenol Corp                                         | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |   1580519 | NS      | $220229517.46  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                      | Apple Inc                                             | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |   8652239 | NS      | $2339305858.43 | 8.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc                          | Applied Materials Inc                                 | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |   1169993 | NS      | $272725368.30  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                                  | AppLovin Corp                                         | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |    196025 | NS      | $124932613.25  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                                | Astera Labs Inc                                       | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               | CORP              | US        |     47970 | NS      | $8955039.60    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing Inc                  | Automatic Data Processing Inc                         | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |    186784 | NS      | $48619875.20   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                           | Bank of America Corp                                  | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   9444694 | NS      | $504818894.30  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc                         | Berkshire Hathaway Inc                                | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |   1522505 | NS      | $727057037.70  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                           | Booking Holdings Inc                                  | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |     76265 | NS      | $387253841.10  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp                         | Boston Scientific Corp                                | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |   2154363 | NS      | $216987441.36  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                   | Broadcom Inc                                          | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |   2362242 | NS      | $873155510.46  | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp                     | Capital One Financial Corp                            | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |   1416979 | NS      | $311721210.21  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                                     | Carvana Co                                            | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |      9266 | NS      | $2840399.64    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                                | Caterpillar Inc                                       | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |    435785 | NS      | $251561249.10  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                                   | Chevron Corp                                          | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       444 | NS      | $70027.68      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc                              | Cisco Systems Inc                                     | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |  11769198 | NS      | $860446065.78  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                                  | Citigroup Inc                                         | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |   3348628 | NS      | $338981612.44  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                               | Coca-Cola Co/The                                      | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      1140 | NS      | $78546.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                                   | Comcast Corp                                          | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |   9242825 | NS      | $257274033.88  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                                 | ConocoPhillips                                        | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    123598 | NS      | $10982918.28   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                                    | Corning Inc                                           | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |    894822 | NS      | $79710743.76   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                          | Costco Wholesale Corp                                 | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |    264629 | NS      | $241196102.05  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang Inc                                    | Coupang Inc                                           | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |        45 | NS      | $1438.65       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc                       | Crowdstrike Holdings Inc                              | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |     25671 | NS      | $13939609.71   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                                     | Deere & Co                                            | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |    455533 | NS      | $210287698.79  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc                          | Dell Technologies Inc                                 | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |        44 | NS      | $7128.44       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                             | Walt Disney Co/The                                    | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |    258576 | NS      | $29120829.12   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                               | Duke Energy Corp                                      | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |   3813820 | NS      | $474057826.00  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                                    | Exelon Corp                                           | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |   1565560 | NS      | $72203627.20   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelixis Inc                                   | Exelixis Inc                                          | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    151030 | NS      | $5840330.10    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                               | Exxon Mobil Corp                                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |   4211812 | NS      | $481662820.32  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                             | Meta Platforms Inc                                    | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |   1431062 | NS      | $927829047.70  | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                                   | Fortinet Inc                                          | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |    122278 | NS      | $10568487.54   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fox Corp                                       | Fox Corp                                              | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |    103998 | NS      | $6723470.70    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                                 | GE Vernova Inc                                        | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |    157391 | NS      | $92095769.74   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                            | General Electric Co                                   | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |    569074 | NS      | $175815412.30  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| General Motors Co                              | General Motors Co                                     | CUSIP: 37045V100<br>LEI: 54930070NSV60J38I987 | Long             | EC               | CORP              | US        |    516642 | NS      | $35694795.78   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                            | Gilead Sciences Inc                                   | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |    930626 | NS      | $111479688.54  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The                    | Goldman Sachs Group Inc/The                           | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |    396813 | NS      | $313232277.81  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group Inc/The               | Hartford Insurance Group Inc/The                      | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |   2881247 | NS      | $357793252.46  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co                  | Hewlett Packard Enterprise Co                         | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |       287 | NS      | $7008.54       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Worldwide Holdings Inc                  | Hilton Worldwide Holdings Inc                         | CUSIP: 43300A203<br>LEI: 549300HVGPK36ICB0B89 | Long             | EC               | CORP              | US        |       720 | NS      | $185011.20     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                             | Home Depot Inc/The                                    | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |    551613 | NS      | $209386778.67  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc                    | Honeywell International Inc                           | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     73496 | NS      | $14796949.68   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH                   | Huntington Bancshares Inc/OH                          | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |    416007 | NS      | $6423148.08    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corp           | International Business Machines Corp                  | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |       704 | NS      | $216416.64     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                     | Intuit Inc                                            | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |         8 | NS      | $5340.40       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                         | Intuitive Surgical Inc                                | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |    343245 | NS      | $183388938.60  | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                            | JPMorgan Chase & Co                                   | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |   3742057 | NS      | $1164228773.84 | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                              | Johnson & Johnson                                     | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |   2531389 | NS      | $478103440.43  | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp                                    | Lennar Corp                                           | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |    142533 | NS      | $17641309.41   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                                 | Eli Lilly & Co                                        | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    105534 | NS      | $91061067.24   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Macy's Inc                                     | Macy's Inc                                            | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |        90 | NS      | $1754.10       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                                 | Mastercard Inc                                        | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       620 | NS      | $342233.80     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                                | McDonald's Corp                                       | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |       152 | NS      | $45361.36      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                                 | Merck & Co Inc                                        | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |      1496 | NS      | $128626.08     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                                    | MetLife Inc                                           | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |        44 | NS      | $3512.08       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                                 | Microsoft Corp                                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |   4221657 | NS      | $2186016211.17 | 7.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategy Inc                                   | Strategy Inc                                          | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |     93206 | NS      | $25119949.06   | 0.09%             |  |  |  | No            |                  1 | On Loan: —       |
| Micron Technology Inc                          | Micron Technology Inc                                 | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |    792846 | NS      | $177415149.42  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties Inc                        | Millrose Properties Inc                               | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               |  | US        |         4 | NS      | $128.84        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                                 | Morgan Stanley                                        | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |        24 | NS      | $3936.00       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy Inc                                 | NRG Energy Inc                                        | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |      6956 | NS      | $1195458.16    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                                    | Netflix Inc                                           | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |    447793 | NS      | $501017675.98  | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                                   | Newmont Corp                                          | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |   1263955 | NS      | $102342436.35  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                             | NextEra Energy Inc                                    | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |   1889757 | NS      | $153826219.80  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutanix Inc                                    | Nutanix Inc                                           | CUSIP: 67059N108<br>LEI: 549300X7J6E8TKVIXW09 | Long             | EC               | CORP              | US        |        90 | NS      | $6411.60       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                                    | NVIDIA Corp                                           | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |  13080334 | NS      | $2648636831.66 | 9.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                                    | Oracle Corp                                           | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    735783 | NS      | $193223973.63  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                                     | PACCAR Inc                                            | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |        44 | NS      | $4329.60       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc                      | Palantir Technologies Inc                             | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |   1749461 | NS      | $350714446.67  | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp                           | Parker-Hannifin Corp                                  | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |    516517 | NS      | $399179833.11  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                                     | Pfizer Inc                                            | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |   7872508 | NS      | $194057322.20  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc                | Philip Morris International Inc                       | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      2288 | NS      | $330227.04     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The                        | Procter & Gamble Co/The                               | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |    874596 | NS      | $131513000.52  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The                           | Progressive Corp/The                                  | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |    817884 | NS      | $168484104.00  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                   | Prologis Inc                                          | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |   1593513 | NS      | $197739028.17  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                                   | QUALCOMM Inc                                          | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      2772 | NS      | $501454.80     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                                       | RTX Corp                                              | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |   1188643 | NS      | $212172775.50  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                             | Realty Income Corp                                    | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |   4471891 | NS      | $259280240.18  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc                          | Robinhood Markets Inc                                 | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |    139998 | NS      | $20548906.44   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX Corp                                    | ROBLOX Corp                                           | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    502308 | NS      | $57122465.76   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                                 | Salesforce Inc                                        | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |   1849786 | NS      | $481702772.26  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                                 | ServiceNow Inc                                        | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |    187883 | NS      | $172717084.24  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                                  | Snowflake Inc                                         | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |        20 | NS      | $5497.60       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| SoFi Technologies Inc                          | SoFi Technologies Inc                                 | CUSIP: 83406F102<br>LEI: 549300SW81JCMVZDDY09 | Long             | EC               | CORP              | US        |   1029335 | NS      | $30550662.80   | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Solstice Advanced Materials Inc                | Solstice Advanced Materials Inc                       | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |     18374 | NS      | $828116.18     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                                | Southern Co/The                                       | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |      1052 | NS      | $98930.08      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                                | T-Mobile US Inc                                       | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       836 | NS      | $175601.80     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                      | Tesla Inc                                             | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |   1532217 | NS      | $699548993.52  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                   | Thermo Fisher Scientific Inc                          | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |    311266 | NS      | $176609215.74  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Travelers Cos Inc/The                          | Travelers Cos Inc/The                                 | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |   1343306 | NS      | $360838857.72  | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                          | Uber Technologies Inc                                 | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    378347 | NS      | $36510485.50   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                             | Union Pacific Corp                                    | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |    207894 | NS      | $45813600.78   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc                      | United Parcel Service Inc                             | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |         8 | NS      | $771.36        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                         | UnitedHealth Group Inc                                | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    199387 | NS      | $68102623.72   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corp                             | Valero Energy Corp                                    | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |        44 | NS      | $7460.64       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc                     | Verizon Communications Inc                            | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |   5513211 | NS      | $219095005.14  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                            | VICI Properties Inc                                   | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |    131321 | NS      | $3938316.79    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                       | Visa Inc                                              | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |    695254 | NS      | $236900847.96  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                                    | Vistra Corp                                           | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |       349 | NS      | $65716.70      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                    | Walmart Inc                                           | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |   3269814 | NS      | $330839780.52  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management Inc                           | Waste Management Inc                                  | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |         8 | NS      | $1598.16       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                               | Wells Fargo & Co                                      | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |   1047243 | NS      | $91078723.71   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                  | Welltower Inc                                         | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               |  | US        |    896256 | NS      | $162258186.24  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp                           | Western Digital Corp                                  | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |    301534 | NS      | $45293422.14   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Funds III                            | BlackRock Cash Funds: Institutional, SL Agency Shares | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |  48771413 | NS      | $48795799.13   | 0.17%             |  |  |  | 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        |  35510000 | NS      | $35510000.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                                        | CRH PLC                                               | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |    286852 | NS      | $34164073.20   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                                 | Eaton Corp PLC                                        | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |    629546 | NS      | $240209571.76  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                  | Medtronic PLC                                         | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |    492875 | NS      | $44703762.50   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                 | NU Holdings Ltd/Cayman Islands                        | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |       315 | NS      | $5074.65       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PLC                | Seagate Technology Holdings PLC                       | CUSIP: 000000000<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | IE        |    107459 | NS      | $27496608.92   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                         | Trane Technologies PLC                                | CUSIP: 000000000<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |    506523 | NS      | $227251543.95  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Cruises Ltd                    | Royal Caribbean Cruises Ltd                           | CUSIP: 000000000<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | US        |    208382 | NS      | $59770209.06   | 0.21%             |  |  |  | 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