BTX - BlackRock Technology & Private Equity Term Trust

What this means for you

One large investor owns more than 5% of this fund but has told the regulator it is not seeking changes. That is common for banks, brokers and index funds that hold shares for their clients.

Nothing is required of you. If an investor changes its mind, it must file a new notice within days, and it will show up here.

Email me if this changes

What happened, and when

In the fund's last buy-back (results filed July 10, 2025), holders offered 45.3% of all shares and the fund bought all of them; nobody was cut back. Results of the last buy-back →

1. May 11, 2026

   Morgan Stanley now owns 5.3%, as a passive investor.

   Original document →

2. July 11, 2025

   Saba sold down below 5% and stopped reporting.

   Original document →

3. July 10, 2025

   The buy-back ended; holders offered 45.3% of all shares and the fund paid $7.4924 a share.

   Original document →

4. July 9, 2025

   The buy-back ended; an early count says holders offered 45.3% of all shares.

   Original document →

5. June 9, 2025

   The fund offered to buy back 50% of its shares at 99.5% of value, until July 8, 2025.

   Original document →

About this fund

• Run by BlackRock Advisors, LLC. Part of the BlackRock-advised Funds fund family. As of Dec 31, 2025, from the fund's yearly report. Original document →
• Size: about $1.23 billion of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 3% on top of its own money, as of June 30, 2026. Borrowed money makes gains and losses bigger. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.3% a year in management fees; 1.5% a year in total, including interest on borrowed money. Fiscal year ended Dec 31, 2025. As of Dec 31, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Dec 31, 2025) the fund paid $0.90 a share, all of it your own money back, not income. Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of Dec 31, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Dec 31, 2025): $7.84. The shares traded at $6.59, about 15.9% below that. As of Dec 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 40.2% over the last three months we have (April-June 2026), before the share price is taken into account. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 2020.

How this has changed

• Payouts per share: $0.90 in the fiscal year ended Dec 31, 2025; $0.83 in the year ended Dec 31, 2024; $0.77 in the year ended Dec 31, 2023.As of Dec 31, 2025, from the fund's annual report. Original document →
• Of that, your own money back rather than income: $0.90 in the year ended Dec 31, 2025; $0.83 in the year ended Dec 31, 2024; $0.77 in the year ended Dec 31, 2023.As of Dec 31, 2025, from the fund's annual report. Original document →
• Costs, including interest on borrowed money: 1.46% a year in the fiscal year ended Dec 31, 2025; 1.51% a year in the year ended Dec 31, 2024; 1.44% a year in the year ended Dec 31, 2023.As of Dec 31, 2025, from the fund's annual report. Original document →
• Size of the holdings: about $911 million at Dec 31, 2025; $1.79 billion at Dec 31, 2024; $2.03 billion at Dec 31, 2023. From the fund's quarterly holdings reports. Original documents: Dec 31, 2025 →, Dec 31, 2024 →, Dec 31, 2023 →.
• Borrowing: none at Dec 31, 2025; 2% at Dec 31, 2024; 4% at Dec 31, 2023. From the fund's quarterly holdings reports. Original documents: Dec 31, 2025 →, Dec 31, 2024 →, Dec 31, 2023 →.
• The fund had about 117 million shares at Dec 31, 2025, down 48% from Dec 31, 2023.As of Dec 31, 2025, from the fund's annual report. Original document →
  In between, the fund bought back shares. Original document →

What these lines mean: a payout that is your own money back, what a fund costs, borrowing.

What a holder made

• The year ended Dec 31, 2025: the shares returned +0.7%, counting payouts; the holdings +6.5%. The holdings figure is what the fund's investments earned, before the share price is taken into account. As of Dec 31, 2025, from the fund's annual report. Original document →
• The year ended Dec 31, 2024: the shares returned +13.2%, counting payouts; the holdings +3.4%. As of Dec 31, 2024, from the fund's annual report. Original document →
• The year ended Dec 31, 2023: the shares returned +19.1%, counting payouts; the holdings +13.3%. As of Dec 31, 2023, from the fund's annual report. Original document →
• The year ended Dec 31, 2022: the shares returned -47.7%, counting payouts; the holdings -41.1%. As of Dec 31, 2022, from the fund's annual report. Original document →
• Those four years together: the shares returned -29%. $10,000 of shares bought at the start (Jan 1, 2022) would have become about $7,100 by Dec 31, 2025, with every payout counted, before tax. As of Dec 31, 2025, from the fund's annual report. Original document →
• The holdings over the last twelve months we have, to June 30, 2026: +54.4%. The quarterly reports carry no share price, so this is the holdings alone. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.

Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.

What the fund holds

Mostly shares (92%), the rest preferred shares and cash and short-term holdings. About 71% issued in the U.S.

1. PsiQuantum - 6%
2. Anthropic Pbc - 5.8%
3. Micron Technology - 4.6%
4. Lumentum Holdings - 4.1%
5. Nvidia - 3.8%
6. Elite Material - 3.5%
7. Cash and short-term - 3.2%
8. Space Exploration Technologies - 3.1%
9. Tower Semiconductor - 3.1%
10. Deepgram - 2.7%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →