Consolidated Schedule of Investments (unaudited) January 31, 2020 | BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks — 95.1% |
| |||||||
Argentina — 0.0% |
| |||||||
YPF SA, ADR | 20 | $ | 188 | |||||
|
| |||||||
Austria — 0.1% | ||||||||
Erste Group Bank AG(a) | 169 | 6,205 | ||||||
|
| |||||||
Belgium — 0.1% | ||||||||
KBC Group NV | 123 | 9,025 | ||||||
|
| |||||||
Brazil — 0.8% | ||||||||
Azul SA — ADR(a) | 1,077 | 44,696 | ||||||
|
| |||||||
Canada — 0.9% | ||||||||
Enbridge, Inc. | 1,305 | 53,062 | ||||||
|
| |||||||
Chile — 0.0% | ||||||||
Cia Cervecerias Unidas SA, ADR | 105 | 1,871 | ||||||
|
| |||||||
China — 4.9% | ||||||||
Aier Eye Hospital Group Co. Ltd., Class A | 500 | 2,816 | ||||||
Alibaba Group Holding Ltd.(a) | 600 | 15,482 | ||||||
Alibaba Group Holding Ltd. — ADR(a) | 256 | 52,887 | ||||||
Alibaba Health Information Technology Ltd.(a) | 2,000 | 2,786 | ||||||
Asymchem Laboratories Tianjin Co. Ltd., Class A | 200 | 4,283 | ||||||
Autobio Diagnostics Co. Ltd., Class A | 200 | 3,220 | ||||||
Brilliance China Automotive Holdings Ltd. | 2,000 | 1,773 | ||||||
China International Travel Service Corp. Ltd., Class A | 200 | 2,281 | ||||||
China Merchants Bank Co. Ltd., Class H | 500 | 2,411 | ||||||
China Overseas Land & Investment Ltd. | 2,000 | 6,429 | ||||||
Foshan Haitian Flavouring & Food Co. Ltd., Class A | 100 | 1,505 | ||||||
Glodon Co. Ltd., Class A | 500 | 2,735 | ||||||
Great Wall Motor Co. Ltd., Class A | 1,400 | 1,625 | ||||||
Gree Electric Appliances, Inc. of Zhuhai, Class A(a) | 200 | 1,768 | ||||||
Guangzhou Automobile Group Co. Ltd., Class A | 1,000 | 1,526 | ||||||
Guangzhou Automobile Group Co. Ltd., Class H | 2,000 | 2,004 | ||||||
Guangzhou Baiyun International Airport Co. Ltd., Class A | 900 | 1,932 | ||||||
Haidilao International Holding Ltd.(b) | 1,000 | 3,863 | ||||||
Han’s Laser Technology Industry Group Co. Ltd., Class A | 500 | 2,960 | ||||||
Hangzhou Hikvision Digital Technology Co. Ltd., Class A | 1,700 | 8,419 | ||||||
Hangzhou Robam Appliances Co. Ltd., Class A | 400 | 1,826 | ||||||
Hangzhou Tigermed Consulting Co. Ltd., Class A | 300 | 3,090 | ||||||
Hengan International Group Co. Ltd. | 500 | 3,642 |
Security | Shares | Value | ||||||
China (continued) | ||||||||
Huazhu Group Ltd., ADR | 132 | $ | 4,554 | |||||
Hundsun Technologies, Inc., Class A | 200 | 2,424 | ||||||
Industrial & Commercial Bank of China Ltd., Class H | 4,000 | 2,655 | ||||||
Inner Mongolia Yili Industrial Group Co. Ltd., Class A | 500 | 2,129 | ||||||
Inspur Electronic Information Industry Co. Ltd., Class A | 700 | 3,258 | ||||||
Jiangsu Hengrui Medicine Co. Ltd., Class A | 100 | 1,232 | ||||||
Kingdee International Software Group Co. Ltd. | 5,000 | 5,339 | ||||||
Kingsoft Corp. Ltd.(a) | 1,000 | 3,022 | ||||||
Laobaixing Pharmacy Chain JSC, Class A | 200 | 2,066 | ||||||
Lenovo Group Ltd. | 4,000 | 2,610 | ||||||
Li Ning Co. Ltd. | 500 | 1,460 | ||||||
Meituan Dianping, Class B(a) | 200 | 2,532 | ||||||
NetEase, Inc. — ADR | 9 | 2,887 | ||||||
New Oriental Education & Technology Group, Inc. — ADR(a) | 18 | 2,188 | ||||||
Ping An Insurance Group Co. of China Ltd., Class A | 200 | 2,270 | ||||||
Qingdao Haier Co. Ltd., Class A | 700 | 1,811 | ||||||
Shanghai International Airport Co. Ltd., Class A | 200 | 1,932 | ||||||
Shanghai Jahwa United Co. Ltd., Class A | 470 | 1,881 | ||||||
Shenzhen Inovance Technology Co. Ltd. | 700 | 2,867 | ||||||
Shenzhen MindrayBio-Medical Electronics Co. Ltd., Class A | 100 | 2,612 | ||||||
TAL Education Group — ADR(a) | 116 | 5,788 | ||||||
Tencent Holdings Ltd. | 1,400 | 66,766 | ||||||
Trip.com Group Ltd., ADR(a) | 173 | 5,558 | ||||||
Venustech Group, Inc., Class A | 500 | 2,722 | ||||||
Want Want China Holdings Ltd. | 5,000 | 4,127 | ||||||
Wuhan Raycus Fiber Laser Technologies Co. Ltd., Class A | 200 | 2,858 | ||||||
WuXi AppTec Co. Ltd., Class A | 200 | 2,689 | ||||||
Wuxi Biologics Cayman, Inc.(a)(b) | 500 | 6,324 | ||||||
Yifeng Pharmacy Chain Co. Ltd., Class A | 200 | 2,350 | ||||||
Yonyou Network Technology Co. Ltd., Class A | 500 | 2,234 | ||||||
Yum China Holdings, Inc. | 96 | 4,135 | ||||||
|
| |||||||
288,543 | ||||||||
Czech Republic — 0.1% | ||||||||
CEZ AS | 141 | 3,088 | ||||||
|
| |||||||
Finland — 0.3% | ||||||||
Neste OYJ | 386 | 15,360 | ||||||
|
| |||||||
France — 3.7% | ||||||||
BNP Paribas SA | 164 | 8,703 |
1 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2020 | BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
France (continued) | ||||||||
Credit Agricole SA | 550 | $ | 7,431 | |||||
Danone SA | 856 | 68,501 | ||||||
Dassault Aviation SA | 9 | 10,960 | ||||||
EssilorLuxottica SA | 68 | 10,068 | ||||||
Safran SA | 292 | 47,081 | ||||||
Sanofi | 458 | 44,169 | ||||||
Societe Generale SA | 243 | 7,863 | ||||||
Sodexo SA | 122 | 12,774 | ||||||
|
| |||||||
217,550 | ||||||||
Germany — 2.7% | ||||||||
Fresenius SE & Co. KGaA | 389 | 19,862 | ||||||
Infineon Technologies AG | 992 | 21,311 | ||||||
Knorr-Bremse AG | 321 | 35,070 | ||||||
Siemens AG, Registered Shares | 668 | 82,390 | ||||||
|
| |||||||
158,633 | ||||||||
Hong Kong — 1.2% | ||||||||
AIA Group Ltd. | 800 | 7,927 | ||||||
CK Infrastructure Holdings Ltd. | 500 | 3,488 | ||||||
CLP Holdings Ltd. | 500 | 5,200 | ||||||
Hang Lung Properties Ltd. | 2,000 | 4,178 | ||||||
HKT Trust & HKT Ltd.(c) | 2,000 | 2,985 | ||||||
Jardine Matheson Holdings Ltd. | 83 | 4,627 | ||||||
Link REIT | 500 | 5,056 | ||||||
Sun Hung Kai Properties Ltd. | 2,500 | 34,826 | ||||||
|
| |||||||
68,287 | ||||||||
Indonesia — 0.1% | ||||||||
Bank Central Asia Tbk PT | 2,200 | 5,199 | ||||||
|
| |||||||
Italy — 2.6% | ||||||||
Enel SpA | 7,786 | 67,865 | ||||||
Intesa Sanpaolo SpA | 2,349 | 5,834 | ||||||
RAI Way SpA(b) | 2,020 | 13,173 | ||||||
UniCredit SpA | 4,796 | 64,061 | ||||||
|
| |||||||
150,933 | ||||||||
Japan — 5.7% | ||||||||
Ajinomoto Co., Inc. | 1,700 | 27,999 | ||||||
Alfresa Holdings Corp. | 100 | 2,009 | ||||||
Astellas Pharma, Inc. | 1,500 | 26,505 | ||||||
Canon Marketing Japan, Inc. | 100 | 2,383 | ||||||
Denso Corp. | 100 | 4,102 | ||||||
East Japan Railway Co. | 400 | 35,221 | ||||||
Hoya Corp. | 300 | 28,712 | ||||||
Japan Airlines Co. Ltd. | 1,500 | 42,196 | ||||||
Japan Aviation Electronics Industry Ltd. | 100 | 1,773 | ||||||
Kamigumi Co. Ltd. | 100 | 2,137 | ||||||
Kinden Corp. | 400 | 6,816 | ||||||
Mabuchi Motor Co. Ltd. | 100 | 3,644 | ||||||
Maeda Road Construction Co. Ltd. | 100 | 3,380 | ||||||
Medipal Holdings Corp. | 100 | 2,119 | ||||||
Murata Manufacturing Co. Ltd. | 400 | 22,646 | ||||||
Nippo Corp. | 100 | 2,453 |
Security | Shares | Value | ||||||
Japan (continued) | ||||||||
Okumura Corp. | 100 | $ | 2,644 | |||||
Seino Holdings Co Ltd. | 100 | 1,278 | ||||||
Shin-Etsu Chemical Co. Ltd. | 300 | 34,309 | ||||||
Stanley Electric Co. Ltd. | 100 | 2,575 | ||||||
Subaru Corp. | 900 | 22,511 | ||||||
Suzuki Motor Corp. | 700 | 32,029 | ||||||
Toagosei Co. Ltd. | 300 | 3,354 | ||||||
Toda Corp. | 500 | 3,207 | ||||||
Tokyo Steel Manufacturing Co. Ltd. | 400 | 2,997 | ||||||
Toyota Industries Corp. | 200 | 10,817 | ||||||
TV Asahi Holdings Corp. | 100 | 1,907 | ||||||
Yamato Kogyo Co. Ltd. | 100 | 2,423 | ||||||
|
| |||||||
334,146 | ||||||||
Netherlands — 3.2% | ||||||||
ABN AMRO Group NV CVA(b) | 1,525 | 26,544 | ||||||
Adyen NV(a)(b) | 8 | 7,351 | ||||||
ASML Holding NV | 108 | 30,309 | ||||||
ING Groep NV | 4,270 | 46,360 | ||||||
Koninklijke Philips NV | 1,284 | 58,804 | ||||||
NXP Semiconductors NV | 162 | 20,551 | ||||||
|
| |||||||
189,919 | ||||||||
Portugal — 0.1% | ||||||||
Jeronimo Martins SGPS SA | 197 | 3,390 | ||||||
|
| |||||||
Singapore — 0.9% | ||||||||
CapitaLand Ltd. | 14,600 | 38,474 | ||||||
ComfortDelGro Corp. Ltd. | 1,900 | 3,005 | ||||||
DBS Group Holdings Ltd. | 100 | 1,842 | ||||||
Singapore Telecommunications Ltd. | 1,300 | 3,128 | ||||||
United Overseas Bank Ltd. | 400 | 7,461 | ||||||
|
| |||||||
53,910 | ||||||||
South Korea — 0.3% | ||||||||
Kakao Corp. | 22 | 2,900 | ||||||
KT&G Corp. | 16 | 1,271 | ||||||
LG Chem Ltd. | 13 | 3,625 | ||||||
NCSoft Corp. | 9 | 4,768 | ||||||
POSCO | 18 | 3,261 | ||||||
S-Oil Corp. | 18 | 1,133 | ||||||
Woongjin Coway Co. Ltd. | 34 | 2,505 | ||||||
|
| |||||||
19,463 | ||||||||
Spain — 0.5% | ||||||||
Cellnex Telecom SA(b) | 605 | 30,090 | ||||||
|
| |||||||
Switzerland — 2.0% | ||||||||
Nestle SA, Registered Shares | 499 | 55,036 | ||||||
Roche Holding AG | 186 | 62,397 | ||||||
|
| |||||||
117,433 | ||||||||
Taiwan — 2.0% | ||||||||
Cathay Financial Holding Co. Ltd. | 2,000 | 2,677 | ||||||
Chunghwa Telecom Co. Ltd. | 1,000 | 3,573 |
2 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2020 | BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Taiwan (continued) | ||||||||
Far EasTone Telecommunications Co. Ltd. | 1,000 | $ | 2,265 | |||||
Formosa Chemicals & Fibre Corp. | 1,000 | 2,791 | ||||||
Formosa Petrochemical Corp. | 1,000 | 2,957 | ||||||
Formosa Plastics Corp. | 1,000 | 3,071 | ||||||
Fubon Financial Holding Co. Ltd. | 3,000 | 4,449 | ||||||
Hon Hai Precision Industry Co. Ltd. | 2,000 | 5,438 | ||||||
Nan Ya Plastics Corp. | 1,000 | 2,292 | ||||||
Taiwan Mobile Co. Ltd. | 1,000 | 3,542 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 8,000 | 82,513 | ||||||
Uni-President Enterprises Corp. | 2,000 | 4,765 | ||||||
|
| |||||||
120,333 | ||||||||
Thailand — 0.3% | ||||||||
Advanced Info Service PCL, Foreign Registered Shares | 700 | 4,527 | ||||||
Intouch Holdings PCL, Class F | 2,100 | 3,493 | ||||||
PTT Global Chemical PCL, Foreign Registered Shares | 1,800 | 2,830 | ||||||
Siam Cement PCL, Foreign Registered Shares | 200 | 2,286 | ||||||
Thai Beverage PCL | 2,400 | 1,393 | ||||||
Thai Oil PCL, Foreign Registered Shares — NVDR | 900 | 1,501 | ||||||
|
| |||||||
16,030 | ||||||||
United Arab Emirates — 0.1% | ||||||||
NMC Health PLC | 504 | 8,571 | ||||||
|
| |||||||
United Kingdom — 2.6% | ||||||||
Aptiv PLC | 64 | 5,426 | ||||||
AstraZeneca PLC | 214 | 20,935 | ||||||
HSBC Holdings PLC | 4,030 | 29,299 | ||||||
Unilever NV | 355 | 20,715 | ||||||
Unilever PLC | 32 | 1,916 | ||||||
Vodafone Group PLC | 38,921 | 76,469 | ||||||
|
| |||||||
154,760 | ||||||||
United States — 59.9% | ||||||||
Abbott Laboratories | 151 | 13,158 | ||||||
Accenture PLC, Class A | 42 | 8,619 | ||||||
Adobe, Inc.(a) | 60 | 21,068 | ||||||
Agilent Technologies, Inc. | 460 | 37,978 | ||||||
Air Products & Chemicals, Inc. | 280 | 66,839 | ||||||
Alphabet, Inc., Class A(a) | 119 | 170,501 | ||||||
Amazon.com, Inc.(a) | 82 | 164,715 | ||||||
Anthem, Inc. | 295 | 78,258 | ||||||
Apple, Inc. | 528 | 163,421 | ||||||
Applied Materials, Inc. | 342 | 19,833 | ||||||
Autodesk, Inc.(a) | 277 | 54,527 | ||||||
Bank of America Corp. | 2,659 | 87,295 | ||||||
Becton Dickinson & Co. | 214 | 58,889 | ||||||
Bristol-Myers Squibb Co. | 672 | 42,302 | ||||||
Charles Schwab Corp. | 505 | 23,003 |
Security | Shares | Value | ||||||
United States (continued) | ||||||||
Charter Communications, Inc., Class A(a) | 118 | $ | 61,060 | |||||
Cisco Systems, Inc. | 261 | 11,998 | ||||||
Citigroup, Inc. | 548 | 40,777 | ||||||
Citrix Systems, Inc. | 152 | 18,425 | ||||||
Colgate-Palmolive Co. | 766 | 56,515 | ||||||
Comcast Corp., Class A | 2,409 | 104,045 | ||||||
Crowdstrike Holdings, Inc., Class A(a) | 37 | 2,260 | ||||||
D.R. Horton, Inc. | 741 | 43,867 | ||||||
Dropbox, Inc., Class A(a) | 907 | 15,437 | ||||||
DuPont de Nemours, Inc. | 532 | 27,228 | ||||||
Emerson Electric Co. | 925 | 66,258 | ||||||
Facebook, Inc., Class A(a) | 299 | 60,371 | ||||||
Ferguson PLC | 137 | 12,303 | ||||||
FleetCor Technologies, Inc.(a) | 213 | 67,144 | ||||||
Fortinet, Inc.(a) | 28 | 3,230 | ||||||
Gilead Sciences, Inc. | 549 | 34,697 | ||||||
HCA Healthcare, Inc. | 264 | 36,643 | ||||||
Home Depot, Inc. | 214 | 48,813 | ||||||
International Flavors & Fragrances, Inc. | 67 | 8,784 | ||||||
Intuit, Inc. | 37 | 10,374 | ||||||
Johnson & Johnson | 495 | 73,691 | ||||||
JPMorgan Chase & Co. | 622 | 82,328 | ||||||
KraneShares CSI China Internet ETF | 67 | 3,222 | ||||||
Lennar Corp., Class A | 608 | 40,347 | ||||||
Liberty Media Corp. — Liberty SiriusXM, Class A(a) | 615 | 29,871 | ||||||
Lowe’s Cos., Inc. | 290 | 33,710 | ||||||
LyondellBasell Industries NV, Class A | 160 | 12,458 | ||||||
Marathon Petroleum Corp. | 167 | 9,101 | ||||||
Marsh & McLennan Cos., Inc. | 452 | 50,561 | ||||||
Marvell Technology Group Ltd. | 308 | 7,404 | ||||||
Mastercard, Inc., Class A | 171 | 54,026 | ||||||
McDonald’s Corp. | 247 | 52,851 | ||||||
Merck & Co., Inc. | 587 | 50,153 | ||||||
Micron Technology, Inc.(a) | 193 | 10,246 | ||||||
Microsoft Corp. | 1,062 | 180,784 | ||||||
Morgan Stanley | 1,143 | 59,733 | ||||||
Motorola Solutions, Inc. | 52 | 9,204 | ||||||
Newmont Corp. | 313 | 14,104 | ||||||
NextEra Energy, Inc. | 254 | 68,123 | ||||||
NVIDIA Corp. | 115 | 27,189 | ||||||
Okta, Inc.(a) | 17 | 2,177 | ||||||
ONEOK, Inc. | 907 | 67,907 | ||||||
Oracle Corp. | 288 | 15,106 | ||||||
Palo Alto Networks, Inc.(a) | 19 | 4,461 | ||||||
PayPal Holdings, Inc.(a) | 128 | 14,578 | ||||||
Peloton Interactive, Inc., Class A(a) | 343 | 11,099 | ||||||
Pfizer, Inc. | 1,294 | 48,189 | ||||||
PPG Industries, Inc. | 399 | 47,816 | ||||||
Proofpoint, Inc.(a) | 9 | 1,105 | ||||||
Raytheon Co. | 358 | 79,097 | ||||||
Regions Financial Corp. | 1,140 | 17,750 | ||||||
Royal Caribbean Cruises Ltd. | 144 | 16,860 |
3 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2020 | BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
United States (continued) | ||||||||
salesforce.com, Inc.(a) | 318 | $ | 57,975 | |||||
ServiceNow, Inc.(a) | 67 | 22,661 | ||||||
Splunk, Inc.(a) | 28 | 4,347 | ||||||
Starbucks Corp. | 412 | 34,950 | ||||||
Target Corp. | 202 | 22,369 | ||||||
Thermo Fisher Scientific, Inc. | 113 | 35,390 | ||||||
TJX Cos., Inc. | 649 | 38,317 | ||||||
Truist Financial Corp. | 806 | 41,565 | ||||||
Uber Technologies, Inc.(a) | 1,038 | 37,669 | ||||||
Union Pacific Corp. | 281 | 50,417 | ||||||
United Technologies Corp. | 429 | 64,436 | ||||||
UnitedHealth Group, Inc. | 283 | 77,103 | ||||||
Vertex Pharmaceuticals, Inc.(a) | 64 | 14,531 | ||||||
Visa, Inc., Class A | 63 | 12,535 | ||||||
Walmart, Inc. | 420 | 48,086 | ||||||
Williams Cos., Inc. | 829 | 17,152 | ||||||
Xilinx, Inc. | 160 | 13,517 | ||||||
Zscaler, Inc.(a) | 18 | 1,010 | ||||||
|
| |||||||
3,529,916 | ||||||||
|
| |||||||
Total Common Stocks — 95.1% |
| 5,600,601 | ||||||
|
| |||||||
Investment Companies — 0.2% |
| |||||||
Equity Fund — 0.2% | ||||||||
iShares ChinaLarge-Cap ETF(e) | 253 | 10,054 | ||||||
|
| |||||||
Total Investment Companies — 0.2% |
| 10,054 | ||||||
|
|
Security | Shares | Value | ||||||
Preferred Stocks — 0.6% |
| |||||||
Brazil — 0.1% | ||||||||
Itau Unibanco Holding SA, Preference Shares, 0.00% | 650 | $ | 4,981 | |||||
|
| |||||||
Germany — 0.5% | ||||||||
Henkel AG & Co. KGaA, Preference Shares, 0.00% | 308 | 31,325 | ||||||
|
| |||||||
Total Preferred Stocks — 0.6% |
| 36,306 | ||||||
|
| |||||||
Total Long-Term Investments — 95.9% |
| 5,646,961 | ||||||
|
| |||||||
Short-Term Securities — 5.2% |
| |||||||
BlackRock Liquidity Funds,T-Fund, Institutional Class, 1.48%(d)(e) | 305,544 | 305,544 | ||||||
|
| |||||||
Total Short-Term Securities — 5.2% |
| 305,544 | ||||||
|
| |||||||
Options Purchased — 0.1% |
| 4,695 | ||||||
|
| |||||||
Total Investments Before Options Written — 101.2% |
| 5,957,200 | ||||||
|
| |||||||
Options Written — (0.1)% |
| (4,187 | ) | |||||
|
| |||||||
Total Investments, Net of Options Written — 101.1% |
| 5,953,013 | ||||||
Liabilities in Excess of Other Assets — (1.1)% |
| (62,456 | ) | |||||
|
| |||||||
Net Assets — 100.0% |
| $ | 5,890,557 | |||||
|
|
(a) | Non-income producing security. |
(b) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(c) | A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately. |
(d) | Annualized7-day yield as of period end. |
Includes net capital gain distributions, if applicable.
(e) | During the period ended January 31, 2020, investments in issuers considered to be an affiliate/affiliates of the Fund for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, and/or related parties of the fund were as follows: |
4 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2020 | BlackRock GA Dynamic Equity Fund |
Affiliated Persons and/or Related Parties | Shares Held at 10/31/19 | Shares Purchase | Shares Sold | Shares Held at 01/31/20 | Value at 01/31/20 | Income | Net Realized | Change in Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||
BlackRock Liquidity Funds,T-Fund, Institutional Class | 254,910 | 50,634 | (b) | — | 305,544 | $ | 305,544 | $ | 983 | $ | 1 | $ | — | |||||||||||||||||||
iShares ChinaLarge-Cap ETF | — | 253 | — | 253 | 10,054 | 199 | — | (718 | ) | |||||||||||||||||||||||
|
|
|
|
|
|
|
| |||||||||||||||||||||||||
$ | 315,598 | $ | 1,182 | $ | 1 | $ | (718 | ) | ||||||||||||||||||||||||
|
|
|
|
|
|
|
|
(a) | Includes net capital gain distributions, if applicable. |
(b) | Represents net shares purchased(sold). |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ Unrealized Appreciation (Depreciation) | ||||||||||||
Long Contracts | ||||||||||||||||
SGX Nifty 50 Index | 3 | 02/27/20 | $ | 72 | $ | (910 | ) | |||||||||
FTSE 100 Index | 1 | 03/20/20 | 95 | (3,587 | ) | |||||||||||
S&P 500E-Mini Index | 2 | 03/20/20 | 322 | 2,791 | ||||||||||||
|
| |||||||||||||||
(1,706 | ) | |||||||||||||||
|
| |||||||||||||||
Short Contracts | ||||||||||||||||
MSCI Taiwan Index | 3 | 02/26/20 | 132 | 111 | ||||||||||||
HSCEI Index | 1 | 02/27/20 | 66 | 2,277 | ||||||||||||
KOSPI Index | 1 | 03/12/20 | 60 | (2,299 | ) | |||||||||||
|
| |||||||||||||||
89 | ||||||||||||||||
|
| |||||||||||||||
$ | (1,617 | ) | ||||||||||||||
|
|
Forward Foreign Currency Exchange Contracts
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
CHF | 70,000 | USD | 71,535 | JPMorgan Chase Bank N.A. | 02/03/20 | $ | 1,139 | |||||||||||||
GBP | 94,950 | USD | 122,764 | JPMorgan Chase Bank N.A. | 02/03/20 | 2,618 | ||||||||||||||
HKD | 635,000 | USD | 81,757 | BNP Paribas S.A. | 02/03/20 | 3 | ||||||||||||||
JPY | 6,859,000 | USD | 63,129 | JPMorgan Chase Bank N.A. | 02/03/20 | 172 | ||||||||||||||
USD | 103,976 | AUD | 155,000 | Morgan Stanley & Co. International PLC | 02/03/20 | 218 | ||||||||||||||
USD | 111,921 | CAD | 148,000 | JPMorgan Chase Bank N.A. | 02/03/20 | 88 | ||||||||||||||
USD | 63,676 | JPY | 6,859,000 | Bank of America N.A. | 02/03/20 | 375 | ||||||||||||||
INR | 4,815,000 | USD | 66,377 | Barclays Bank PLC | 02/14/20 | 814 | ||||||||||||||
JPY | 18,426,432 | USD | 169,324 | Bank of America N.A. | 03/19/20 | 1,135 | ||||||||||||||
USD | 143,592 | EUR | 128,000 | Bank of America N.A. | 03/27/20 | 1,180 | ||||||||||||||
USD | 120,191 | TWD | 3,605,000 | Deutsche Bank AG | 03/27/20 | 1,211 | ||||||||||||||
CHF | 70,000 | USD | 72,733 | Morgan Stanley & Co. International PLC | 05/07/20 | 410 | ||||||||||||||
GBP | 95,000 | USD | 124,685 | Citibank N.A. | 05/07/20 | 1,073 | ||||||||||||||
|
| |||||||||||||||||||
$ | 10,436 | |||||||||||||||||||
|
|
5 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2020 | BlackRock GA Dynamic Equity Fund |
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
AUD | 155,000 | USD | 106,082 | Bank of America N.A. | 02/03/20 | (2,325 | ) | |||||||||||||
CAD | 148,064 | USD | 113,458 | Citibank N.A. | 02/03/20 | (1,576 | ) | |||||||||||||
USD | 72,263 | CHF | 70,000 | Morgan Stanley & Co. International PLC | 02/03/20 | (412 | ) | |||||||||||||
USD | 124,373 | GBP | 95,000 | Citibank N.A. | 02/03/20 | (1,074 | ) | |||||||||||||
USD | 81,005 | HKD | 635,000 | JPMorgan Chase Bank N.A. | 02/03/20 | (755 | ) | |||||||||||||
AUD | 155,000 | USD | 104,179 | Morgan Stanley & Co. International PLC | 05/07/20 | (236 | ) | |||||||||||||
CAD | 148,000 | USD | 111,924 | JPMorgan Chase Bank N.A. | 05/07/20 | (94 | ) | |||||||||||||
USD | 81,647 | HKD | 635,000 | BNP Paribas S.A. | 05/07/20 | (17 | ) | |||||||||||||
USD | 63,451 | JPY | 6,859,000 | JPMorgan Chase Bank N.A. | 05/07/20 | (167 | ) | |||||||||||||
|
| |||||||||||||||||||
(6,656 | ) | |||||||||||||||||||
|
| |||||||||||||||||||
Net unrealized appreciation | $ | 3,780 | ||||||||||||||||||
|
|
OTC Options Purchased
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||
Call | ||||||||||||||||||||||||||
Agilent Technologies, Inc. | Nomura International Plc | 160 | 02/21/20 | USD | 82.50 | USD | 13 | $ | 428 | |||||||||||||||||
Alibaba Group Holding Ltd. — ADR | Societe Generale | 63 | 02/21/20 | USD | 215.00 | USD | 13 | 257 | ||||||||||||||||||
Facebook, Inc., Class A | UBS AG | 159 | 02/21/20 | USD | 208.00 | USD | 32 | 443 | ||||||||||||||||||
Lowe’s Cos., Inc. | Nomura International Plc | 189 | 02/21/20 | USD | 123.00 | USD | 22 | 31 | ||||||||||||||||||
QUALCOMM, Inc. | Citibank N.A. | 170 | 02/21/20 | USD | 90.00 | USD | 15 | 287 | ||||||||||||||||||
Walt Disney Co. | Citibank N.A. | 118 | 02/21/20 | USD | 140.00 | USD | 16 | 437 | ||||||||||||||||||
Alibaba Group Holding Ltd. — ADR | Citibank N.A. | 44 | 03/20/20 | USD | 215.00 | USD | 9 | 287 | ||||||||||||||||||
Alphabet, Inc., Class C | JPMorgan Chase Bank N.A. | 14 | 03/20/20 | USD | 1,450.00 | USD | 20 | 739 | ||||||||||||||||||
BP PLC — ADR | Credit Suisse International | 503 | 03/20/20 | USD | 40.00 | USD | 18 | 29 | ||||||||||||||||||
Emerson Electric Co. | Citibank N.A. | 379 | 03/20/20 | USD | 78.00 | USD | 27 | 223 | ||||||||||||||||||
Home Depot, Inc. | Nomura International Plc | 104 | 03/20/20 | USD | 225.00 | USD | 24 | 965 | ||||||||||||||||||
McDonald’s Corp. | Nomura International Plc | 51 | 03/20/20 | USD | 211.00 | USD | 11 | 318 | ||||||||||||||||||
Lowe’s Cos., Inc. | Nomura International Plc | 113 | 04/17/20 | USD | 125.00 | USD | 13 | 251 | ||||||||||||||||||
|
| |||||||||||||||||||||||||
$ | 4,695 | |||||||||||||||||||||||||
|
|
OTC Options Written
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||
Call | ||||||||||||||||||||||||||
Agilent Technologies, Inc. | Nomura International Plc | 160 | 02/21/20 | USD | 88.50 | USD | 13 | $ | (95 | ) | ||||||||||||||||
Alibaba Group Holding Ltd. — ADR | Societe Generale | 63 | 02/21/20 | USD | 235.00 | USD | 13 | (43 | ) | |||||||||||||||||
Facebook, Inc., Class A | UBS AG | 159 | 02/21/20 | USD | 223.00 | USD | 32 | (68 | ) | |||||||||||||||||
Lowe’s Cos., Inc. | Nomura International Plc | 189 | 02/21/20 | USD | 130.00 | USD | 22 | (1 | ) | |||||||||||||||||
QUALCOMM, Inc. | Citibank N.A. | 170 | 02/21/20 | USD | 100.00 | USD | 15 | (50 | ) |
6 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2020 | BlackRock GA Dynamic Equity Fund |
OTC Options Written(continued)
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Alibaba Group Holding Ltd. — ADR | Citibank N.A. | 44 | 03/20/20 | USD | 235.00 | USD | 9 | $ | (78 | ) | ||||||||||||||||||||
BP PLC — ADR | Credit Suisse International | 503 | 03/20/20 | USD | 43.00 | USD | 18 | (4 | ) | |||||||||||||||||||||
Bristol-Myers Squibb Co. | Nomura International Plc | 90 | 03/20/20 | USD | 65.00 | USD | 6 | (126 | ) | |||||||||||||||||||||
Emerson Electric Co. | Citibank N.A. | 379 | 03/20/20 | USD | 88.00 | USD | 27 | — | ||||||||||||||||||||||
Home Depot, Inc. | Nomura International Plc | 104 | 03/20/20 | USD | 240.00 | USD | 24 | (312 | ) | |||||||||||||||||||||
McDonald’s Corp. | Nomura International Plc | 102 | 03/20/20 | USD | 216.00 | USD | 22 | (342 | ) | |||||||||||||||||||||
Apple, Inc. | UBS AG | 46 | 04/17/20 | USD | 345.00 | USD | 14 | (195 | ) | |||||||||||||||||||||
Lowe’s Cos., Inc. | Nomura International Plc | 113 | 04/17/20 | USD | 135.00 | USD | 13 | (63 | ) | |||||||||||||||||||||
Comcast Corp., Class A | Citibank N.A. | 496 | 06/19/20 | USD | 40.00 | USD | 21 | (2,207 | ) | |||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
(3,584 | ) | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
Put | ||||||||||||||||||||||||||||||
Agilent Technologies, Inc. | UBS AG | 110 | 02/21/20 | USD | 77.50 | USD | 9 | (98 | ) | |||||||||||||||||||||
Lowe’s Cos., Inc. | Nomura International Plc | 98 | 02/21/20 | USD | 112.00 | USD | 11 | (105 | ) | |||||||||||||||||||||
Walt Disney Co. | Citibank N.A. | 118 | 02/21/20 | USD | 130.00 | USD | 16 | (159 | ) | |||||||||||||||||||||
Emerson Electric Co. | Citibank N.A. | 190 | 03/20/20 | USD | 65.00 | USD | 14 | (157 | ) | |||||||||||||||||||||
Home Depot, Inc. | Nomura International Plc | 52 | 03/20/20 | USD | 205.00 | USD | 12 | (84 | ) | |||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
(603 | ) | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
$ | (4,187 | ) | ||||||||||||||||||||||||||||
|
|
OTC Total Return Swaps(a)
Reference Entity | Counterparty | Termination Date | Net Notional | Unrealized (Depreciation) | Net Value of Reference Entity | Gross Notional Amount Net Asset Percentage | ||||||||||||||||||||
Equity Securities Short | JPMorgan Chase Bank N.A. | 02/08/23 | USD | (21,616 | ) | $ | 1,996 | (b) | $ | (19,637 | ) | (0.3 | )% | |||||||||||||
|
|
|
|
|
|
(a) | In regards to total return swaps with multiple financing rate benchmarks, the Fund receives or pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specified benchmark, plus or minus a spread in a range of18-28 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The following are the specified benchmarks used in determining the variable rate of interest: |
USD — 1D Overnight Bank Funding Rate (OBFR01)
(b) | Amount includes $17 of net dividends and financing fees. |
The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with JPMorgan Chase Bank N.A. as of January 31, 2020 expiration date 02/08/2023:
Shares | Value | % of Basket Value | ||||||||||
Reference Entity — Short |
| |||||||||||
United States | ||||||||||||
3M Co. | (64 | ) | $ | (10,154 | ) | 51.7 | % | |||||
NetFlix, Inc. | (17 | ) | (5,866 | ) | 29.9 | % |
Shares | Value | % of Basket Value | ||||||||||
United States (continued) | ||||||||||||
TUI AG | (353 | ) | (3,617 | ) | 18.4 | |||||||
|
|
|
| |||||||||
Total Reference Entity — Short |
| (19,637 | ) | |||||||||
|
| |||||||||||
Net Value of Reference Entity — |
| $ | (19,637 | ) | ||||||||
|
|
7 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2020 | BlackRock GA Dynamic Equity Fund |
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of investments and derivative financial instruments. 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 for identical assets or liabilities that the Fund has the ability to access |
• | Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) |
• | Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of investments and derivative 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 Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative 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 investments and derivative financial instruments, refer to the Fund’s most recent financial statements as contained in its annual report.
The following tables summarize the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: |
| |||||||||||||||
Investments: |
| |||||||||||||||
Common Stocks: |
| |||||||||||||||
Argentina | $ | 188 | $ | — | $ | — | $ | 188 | ||||||||
Austria | — | 6,205 | — | 6,205 | ||||||||||||
Belgium | — | 9,025 | — | 9,025 | ||||||||||||
Brazil | 44,696 | — | — | 44,696 | ||||||||||||
Canada | 53,062 | — | — | 53,062 | ||||||||||||
Chile | 1,871 | — | — | 1,871 | ||||||||||||
China | 93,479 | 195,064 | — | 288,543 | ||||||||||||
Czech Republic | 3,088 | — | — | 3,088 | ||||||||||||
Finland | 15,360 | — | — | 15,360 | ||||||||||||
France | 10,960 | 206,590 | — | 217,550 | ||||||||||||
Germany | 35,070 | 123,563 | — | 158,633 | ||||||||||||
Hong Kong | — | 68,287 | — | 68,287 | ||||||||||||
Indonesia | — | 5,199 | — | 5,199 | ||||||||||||
Italy | — | 150,933 | — | 150,933 | ||||||||||||
Japan | — | 334,146 | — | 334,146 | ||||||||||||
Netherlands | 20,551 | 169,368 | — | 189,919 | ||||||||||||
Portugal | — | 3,390 | — | 3,390 | ||||||||||||
Singapore | — | 53,910 | — | 53,910 | ||||||||||||
South Korea | 2,505 | 16,958 | — | 19,463 | ||||||||||||
Spain | — | 30,090 | — | 30,090 | ||||||||||||
Switzerland | — | 117,433 | — | 117,433 | ||||||||||||
Taiwan | 3,542 | 116,791 | — | 120,333 |
8 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2020 | BlackRock GA Dynamic Equity Fund |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks (continued): | ||||||||||||||||
Thailand | 4,331 | 11,699 | — | 16,030 | ||||||||||||
United Arab Emirates | — | 8,571 | — | 8,571 | ||||||||||||
United Kingdom | 5,426 | 149,334 | — | 154,760 | ||||||||||||
United States | 3,517,613 | 12,303 | — | 3,529,916 | ||||||||||||
Investment Companies | 10,054 | — | — | 10,054 | ||||||||||||
Options Purchased | ||||||||||||||||
Equity Contracts | 287 | 4,408 | — | 4,695 | ||||||||||||
Preferred Stocks(a) | 4,981 | 31,325 | — | 36,306 | ||||||||||||
Short-Term Securities | 305,544 | — | — | 305,544 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
$4,132,608 | $1,824,592 | $ — | $5,957,200 | |||||||||||||
|
|
|
|
|
|
|
| |||||||||
Derivative Financial Instruments(b) |
| |||||||||||||||
Assets: |
| |||||||||||||||
Equity contracts | $5,179 | $— | $— | $5,179 | ||||||||||||
Forward foreign currency contracts | — | 10,436 | — | 10,436 | ||||||||||||
Liabilities: |
| |||||||||||||||
Equity contracts | (6,796) | (2,191) | — | (8,987) | ||||||||||||
Forward foreign currency contracts | — | (6,656) | — | (6,656) | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
$(1,617) | $1,589 | $— | $(28) | |||||||||||||
|
|
|
|
|
|
|
|
(a) | See above Schedule of Investments for values in each country. |
(b) | Derivative financial instruments are futures contracts, forward foreign currency exchange contracts, and options written. Futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value. |
9 |