January 31, 2026
 
2026 Quarterly Report
(Unaudited)
 
BlackRock ETF Trust
• iShares Large Cap Growth Active ETF | BGRO | NASDAQ
 
 
 
Not FDIC Insured • May Lose Value • No Bank Guarantee
Schedule of Investments (unaudited)
January 31, 2026
iShares Large Cap Growth Active ETF
(Percentages shown are based on Net Assets)
 
Security
Shares
Value
Common Stocks
Aerospace & Defense — 8.5%
Boeing Co. (The)(a)
653
$152,619
Howmet Aerospace, Inc.
1,328
276,330
L3Harris Technologies, Inc.
425
145,711
TransDigm Group, Inc.
110
157,030
 
731,690
Air Freight & Logistics — 1.6%
CH Robinson Worldwide, Inc.
702
136,855
Automobiles — 2.1%
Tesla, Inc.(a)
416
179,051
Banks — 1.8%
Citigroup, Inc.
1,139
131,794
JPMorgan Chase & Co.
68
20,800
 
152,594
Broadline Retail — 8.3%
Amazon.com, Inc.(a)
2,991
715,746
Capital Markets — 0.4%
Robinhood Markets, Inc., Class A(a)
352
35,017
Communications Equipment — 2.7%
Arista Networks, Inc.(a)
1,634
231,603
Consumer Finance — 0.9%
Capital One Financial Corp.
358
78,377
Consumer Staples Distribution & Retail — 1.0%
Walmart, Inc.
750
89,355
Electrical Equipment — 0.1%
GE Vernova, Inc.
17
12,348
Health Care Equipment & Supplies — 1.5%
Boston Scientific Corp.(a)
1,383
129,352
Health Care Providers & Services — 2.0%
McKesson Corp.
204
169,567
Interactive Media & Services — 8.7%
Alphabet, Inc., Class A
1,371
463,398
Meta Platforms, Inc., Class A
396
283,734
 
747,132
IT Services — 5.2%
Shopify, Inc., Class A(a)
1,144
150,127
Snowflake, Inc.(a)
1,528
294,446
 
444,573
Life Sciences Tools & Services — 0.7%
Thermo Fisher Scientific, Inc.
111
64,226
Security
Shares
Value
Machinery — 2.2%
Caterpillar, Inc.
292
$191,949
Metals & Mining — 2.5%
Freeport-McMoRan, Inc.
1,491
89,803
Newmont Corp.
1,154
129,652
 
219,455
Oil, Gas & Consumable Fuels — 0.5%
EQT Corp.
764
44,106
Pharmaceuticals — 4.1%
Eli Lilly & Co.
344
356,780
Semiconductors & Semiconductor Equipment — 23.3%
Broadcom, Inc.
1,212
401,536
Intel Corp.(a)
4,718
219,245
Lam Research Corp.
663
154,784
Nvidia Corp.
6,424
1,227,819
 
2,003,384
Software — 14.1%
AppLovin Corp., Class A(a)
347
164,169
Datadog, Inc., Class A(a)
1,286
166,306
Microsoft Corp.
1,560
671,252
Oracle Corp.
76
12,508
Palantir Technologies, Inc., Class A(a)
220
32,250
Palo Alto Networks, Inc.(a)
931
164,759
 
1,211,244
Technology Hardware, Storage & Peripherals — 5.6%
Apple, Inc.
1,853
480,816
Total Long-Term Investments — 97.8%
(Cost: $7,096,270)
8,425,220
Short-Term Securities
Money Market Funds — 2.2%
BlackRock Cash Funds: Treasury, SL Agency Shares,
3.64%(b)(c)
190,000
190,000
Total Short-Term Securities — 2.2%
(Cost: $190,000)
190,000
Total Investments — 100.0%
(Cost: $7,286,270)
8,615,220
Liabilities in Excess of Other Assets — (0.0)%
(3,790
)
Net Assets — 100.0%
$8,611,430
 
(a)
Non-income producing security.
(b)
Affiliate of the Fund.
(c)
Annualized 7-day yield as of period end.
1 
Schedule of Investments (unaudited)(continued)
January 31, 2026
iShares Large Cap Growth Active ETF
 
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: 
Affiliated Issuer
Value at
04/30/25
Purchases
at Cost
Proceeds
from Sales
Net Realized
Gain (Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
01/31/26
Shares
Held at
01/31/26
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock Cash Funds: Institutional, SL Agency
Shares(a)
$229,104
$—
$(229,118
)(b)
$18
$(4
)
$—
—
$126
(c)
$—
BlackRock Cash Funds: Treasury, SL Agency Shares
40,000
150,000
(b)
—
—
—
190,000
190,000
1,126
—
 
 
 
 
$18
$(4)
$190,000
 
$1,252
$—
 
(a)
As of period end, the entity is no longer held.
(b)
Represents net amount purchased (sold).
(c)
All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of 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
• 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 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 
Investments 
Long-Term Investments 
Common Stocks
$8,425,220
$—
$—
$8,425,220
Short-Term Securities 
Money Market Funds
190,000
—
—
190,000
 
$8,615,220
$—
$—
$8,615,220
 
2