Updated:
BlackRock Science & Technology Term Trust
BlackRock launched the Science & Technology Term Trust on October 30, 2019, marketing it as a way to replicate an institutional tech-equity strategy for...
BlackRock Science & Technology Term Trust
BlackRock launched the Science & Technology Term Trust on October 30, 2019, marketing it as a way to replicate an institutional tech-equity strategy for individual investors. Tony Kim and Reid Menge, both managing directors in BlackRock's Fundamental Equity Group, were named lead portfolio managers. They had previously run the $5.6B BlackRock Technology Opportunities Fund and co-managed the $10.2B BlackRock Global Allocation Fund's tech sleeve, giving the term trust a developed playbook from day one. The trust invests primarily in US-listed companies across the technology and technology-related sectors, with a heavy tilt toward enterprise software, semiconductors, and internet platforms. It can also allocate up to 20% of assets in non-US firms, and regularly uses covered-call writing on index ETFs to generate incremental option premium. Confirmed positions over time have included Microsoft, Nvidia, Advanced Micro Devices, Snowflake, and Roblox. The fund's charter limits any single holding to 25% of net assets at purchase. Unlike open-end mutual funds, this closed-end structure means share count is fixed, and the market price can diverge meaningfully from net asset value—a feature that attracted arbitrage-oriented investors during periods of discount. As of its most recent semi-annual report, the trust held approximately $700 million in net assets. It has no additional offices beyond BlackRock's New York headquarters, and is not associated with any separate philanthropic or operating vehicle. In November 2023, shareholders voted to replace the trust's original 2034 termination date with an earlier 2029 target, accelerating the return-of-capital schedule and compressing the management fee timeline. Its finite-life structure is its most salient differentiator. Most closed-end equity funds operate as perpetual vehicles, which can lead to persistent discounts to NAV if investors lose confidence in the strategy. By setting an explicit liquidation date, the trust created a hard catalyst for price-to-NAV convergence, similar to a bond maturity. This made it a tactical tool for allocators who wanted exposure to a concentrated tech book paired with a governance-enforced exit ramp.
General information
Firm type
Asset Manager
Year founded
2019
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Tony Kim
Portfolio Manager
Reid Menge
Portfolio Manager
Sector focus
Frequently asked questions
How is the BlackRock Science & Technology Term Trust different from the BlackRock Technology Opportunities Fund?
The Term Trust is a closed-end fund listed on the NYSE, meaning it has a fixed number of shares that trade on an exchange, while the Technology Opportunities Fund is an open-end mutual fund. The Term Trust also carries a finite-life mandate requiring it to liquidate and return capital by 2029, after a shareholder-approved amendment shortened the original 2034 date (per the firm's official communications, November 2023). The Open-end fund has no such termination mechanism.
Who makes investment decisions at the trust?
Tony Kim and Reid Menge serve as portfolio managers. Both are managing directors in BlackRock's Fundamental Equity Group and have jointly overseen technology equity strategies at the firm for over a decade. They are supported by BlackRock's broader technology sector research team, and their decision-making authority extends to the underlying portfolio of US-listed technology and technology-related companies.
What happens in 2029?
The trust is scheduled to terminate in October 2029, at which point it will liquidate its portfolio and distribute net assets to shareholders. This date was moved forward from the original 2034 termination date by a shareholder vote held in November 2023. Between now and then, the trust may also return capital through periodic distributions, including income from option-writing and realized capital gains.
Does the trust use leverage or derivatives?
The trust does not employ structural portfolio leverage. It regularly writes covered-call options on technology-related ETFs to generate additional income, but this strategy reduces upside capture in strong rallies. The prospectus permits the trust to use other derivatives for hedging, but the primary non-equity exposure comes from the option overlay rather than borrowing.
Is this fund suitable for institutional allocators?
The trust is structured for retail investors but attracts institutional attention when its market price trades at a deep discount to net asset value. Because it is a listed closed-end fund with daily liquidity, large allocators can accumulate shares in the open market. The finite-life feature gives institutions a concrete catalyst for discount convergence, unlike perpetual closed-end equity funds.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: