Schedule of Investments (unaudited) July 31, 2021 | BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks |
| |||||||
Argentina — 0.7% | ||||||||
MercadoLibre, Inc.(a) | 35 | $ | 54,904 | |||||
|
| |||||||
Australia — 0.1% | ||||||||
BHP Group PLC | 341 | 11,040 | ||||||
|
| |||||||
Brazil — 0.2% | ||||||||
Magazine Luiza SA | 585 | 2,314 | ||||||
Petroleo Brasileiro SA, ADR | 54 | 576 | ||||||
Vale SA, ADR | 502 | 10,552 | ||||||
|
| |||||||
13,442 | ||||||||
Canada — 1.3% | ||||||||
Enbridge, Inc. | 2,727 | 107,497 | ||||||
|
| |||||||
Cayman Islands(a) — 0.4% | ||||||||
Diversey Holdings Ltd. | 1,629 | 27,172 | ||||||
Hedosophia European Growth | 457 | 4,009 | ||||||
Highland Transcend Partners I Corp. | 372 | 3,739 | ||||||
|
| |||||||
34,920 | ||||||||
Chile — 0.0% | ||||||||
Sociedad Quimica y Minera de Chile SA, ADR | 7 | (b) | 332 | |||||
|
| |||||||
China — 3.2% | ||||||||
AAC Technologies Holdings, Inc. | 500 | 3,001 | ||||||
Aier Eye Hospital Group Co. Ltd., Class A | 401 | 3,657 | ||||||
Alibaba Group Holding Ltd.(a) | 600 | 14,654 | ||||||
Alibaba Group Holding Ltd., ADR(a) | 140 | 27,327 | ||||||
Amoy Diagnostics Co. Ltd., Class A | 200 | 2,549 | ||||||
Asymchem Laboratories Tianjin Co. Ltd., Class A | 100 | 6,161 | ||||||
Autobio Diagnostics Co. Ltd., Class A | 130 | 1,243 | ||||||
BYD Co. Ltd., Class A | 400 | 16,513 | ||||||
China Merchants Bank Co. Ltd., Class H | 500 | 3,804 | ||||||
Contemporary Amperex Technology Co. Ltd., Class A | 333 | 28,540 | ||||||
Enn Energy Holdings Ltd. | 100 | 2,087 | ||||||
Foshan Haitian Flavouring & Food Co. Ltd., Class A | 72 | 1,279 | ||||||
Ganfeng Lithium Co. Ltd., Class H(c) | 200 | 4,305 | ||||||
Glodon Co. Ltd., Class A | 200 | 1,955 | ||||||
Guangdong Marubi Biotechnology Co. Ltd., Class A | 100 | 595 | ||||||
Guangzhou Baiyun International Airport Co. Ltd., Class A | 2,300 | 3,120 | ||||||
Hangzhou Robam Appliances Co. Ltd., Class A | 300 | 1,807 | ||||||
Hangzhou Tigermed Consulting Co. Ltd., Class H(c) | 100 | 1,942 | ||||||
Hansoh Pharmaceutical Group Co. Ltd.(c) | 2,000 | 7,167 | ||||||
Huazhu Group Ltd., ADR | 31 | 1,394 | ||||||
Hundsun Technologies, Inc., Class A | 413 | 3,567 | ||||||
Hygeia Healthcare Holdings Co. Ltd.(c) | 200 | 1,996 | ||||||
Industrial & Commercial Bank of China Ltd., Class H | 2,000 | 1,111 | ||||||
JD Health International, Inc.(a)(c) | 1,150 | 12,371 | ||||||
Jiangsu Hengrui Medicine Co. Ltd., Class A | 88 | 743 | ||||||
Jinxin Fertility Group Ltd.(c) | 2,000 | 3,752 | ||||||
Kingdee International Software Group Co. Ltd.(a) | 2,000 | 6,246 | ||||||
Kingsoft Corp. Ltd. | 600 | 2,807 | ||||||
Li Auto, Inc., ADR(a) | 494 | 16,495 | ||||||
NetEase, Inc., ADR | 42 | 4,293 | ||||||
Ping An Insurance Group Co. of China Ltd., Class A | 200 | 1,664 | ||||||
Shanghai International Airport Co. Ltd., Class A | 600 | 3,585 | ||||||
Tencent Holdings Ltd. | 700 | 42,216 | ||||||
Venus MedTech Hangzhou, Inc., Class H(a)(c) | 500 | 3,160 | ||||||
Venustech Group, Inc., Class A | 500 | 2,455 | ||||||
Want Want China Holdings Ltd. | 2,000 | 1,350 | ||||||
WuXi AppTec Co. Ltd., Class A | 96 | 2,236 | ||||||
Wuxi Biologics Cayman, Inc.(a)(c) | 433 | 6,614 | ||||||
Yifeng Pharmacy Chain Co. Ltd., Class A | 234 | 1,768 |
Security | Shares | Value | ||||||
China (continued) | ||||||||
Yihai International Holding Ltd.(a) | 1,000 | $ | 6,032 | |||||
Yonyou Network Technology Co. Ltd., Class A | 708 | 3,931 | ||||||
Yum China Holdings, Inc. | 75 | 4,664 | ||||||
|
| |||||||
266,156 | ||||||||
Denmark — 0.1% | ||||||||
DSV Panalpina A/S | 24 | 5,850 | ||||||
|
| |||||||
Finland — 0.3% | ||||||||
Neste Oyj | 422 | 25,941 | ||||||
|
| |||||||
France — 4.6% | ||||||||
Alstom SA | 1,224 | 50,767 | ||||||
Arkema SA | 287 | 36,531 | ||||||
Cie de Saint-Gobain | 406 | 29,020 | ||||||
Danone SA | 720 | 52,958 | ||||||
EssilorLuxottica SA | 168 | 31,715 | ||||||
Kering SA | 5 | 4,486 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 60 | 48,040 | ||||||
Safran SA | 558 | 73,028 | ||||||
Sanofi | 528 | 54,423 | ||||||
|
| |||||||
380,968 | ||||||||
Germany — 5.4% | ||||||||
Adidas AG | 174 | 63,154 | ||||||
Allianz SE, Registered Shares | 287 | 71,338 | ||||||
Auto1 Group SE(a)(c) | 454 | 22,221 | ||||||
Daimler AG, Registered Shares | 671 | 59,880 | ||||||
Deutsche Telekom AG, Registered Shares | 3,203 | 66,475 | ||||||
Infineon Technologies AG | 352 | 13,451 | ||||||
Puma SE | 196 | 24,043 | ||||||
Siemens AG, Registered Shares | 563 | 87,847 | ||||||
Vantage Towers AG | 1,186 | 41,461 | ||||||
|
| |||||||
449,870 | ||||||||
Hong Kong — 0.7% | ||||||||
AIA Group Ltd. | 4,400 | 52,649 | ||||||
Hang Lung Properties Ltd. | 1,000 | 2,589 | ||||||
Jardine Matheson Holdings Ltd. | 83 | 4,938 | ||||||
SJM Holdings Ltd.(a) | 1,000 | 902 | ||||||
|
| |||||||
61,078 | ||||||||
Indonesia — 0.0% | ||||||||
Bank Central Asia Tbk PT | 1,500 | 3,097 | ||||||
|
| |||||||
Ireland — 0.4% | ||||||||
Aptiv PLC(a) | 201 | 33,537 | ||||||
|
| |||||||
Israel(a) — 0.4% | ||||||||
ION Acquisition Corp. 2 Ltd. | 181 | 1,816 | ||||||
Playtika Holding Corp. | 1,373 | 30,522 | ||||||
SimilarWeb Ltd. | 84 | 2,014 | ||||||
|
| |||||||
34,352 | ||||||||
Italy — 2.2% | ||||||||
Atlantia SpA(a) | 34 | 617 | ||||||
Banca Mediolanum SpA | 67 | 659 | ||||||
Buzzi Unicem SpA | 23 | 608 | ||||||
Enel SpA | 10,568 | 97,390 | ||||||
FinecoBank Banca Fineco SpA(a) | 38 | 680 | ||||||
Intesa Sanpaolo SpA | 27,821 | 76,857 | ||||||
Nexi SpA(a)(c) | 35 | 750 | ||||||
Poste Italiane SpA(c) | 48 | 635 | ||||||
Prysmian SpA | 20 | 717 | ||||||
Snam SpA | 112 | 678 | ||||||
|
| |||||||
179,591 |
S C H E D U L E O F I N V E S T M E N T S | 1 |
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Japan — 1.9% | ||||||||
Daifuku Co. Ltd. | 100 | $ | 8,961 | |||||
Hoya Corp. | 300 | 42,351 | ||||||
Kose Corp. | 100 | 15,801 | ||||||
Oriental Land Co. Ltd. | 100 | 13,700 | ||||||
Recruit Holdings Co. Ltd. | 200 | 10,366 | ||||||
Shin-Etsu Chemical Co. Ltd. | 300 | 48,939 | ||||||
Sony Group Corp. | 100 | 10,446 | ||||||
Z Holdings Corp. | 600 | 3,003 | ||||||
|
| |||||||
153,567 | ||||||||
Netherlands — 3.5% | ||||||||
Adyen NV(a)(c) | 15 | 40,651 | ||||||
Akzo Nobel NV | 327 | 40,393 | ||||||
ASML Holding NV | 99 | 75,674 | ||||||
ING Groep NV | 6,402 | 82,142 | ||||||
NXP Semiconductors NV | 235 | 48,502 | ||||||
|
| |||||||
287,362 | ||||||||
Norway — 0.0% | ||||||||
LINK Mobility Group Holding ASA(a) | 338 | 1,247 | ||||||
|
| |||||||
Poland — 0.1% | ||||||||
InPost SA(a) | 308 | 6,039 | ||||||
|
| |||||||
Portugal — 0.0% | ||||||||
Jeronimo Martins SGPS SA | 123 | 2,506 | ||||||
|
| |||||||
Singapore — 0.1% | ||||||||
DBS Group Holdings Ltd. | 200 | 4,475 | ||||||
United Overseas Bank Ltd. | 200 | 3,867 | ||||||
|
| |||||||
8,342 | ||||||||
South Korea — 1.0% | ||||||||
Amorepacific Corp. | 106 | 20,434 | ||||||
Kakao Corp. | 102 | 13,058 | ||||||
LG Chem Ltd. | 30 | 22,035 | ||||||
NCSoft Corp. | 6 | 4,303 | ||||||
POSCO | 9 | 2,863 | ||||||
Samsung SDI Co. Ltd. | 30 | 19,366 | ||||||
SK Holdings Co. Ltd. | 3 | 700 | ||||||
|
| |||||||
82,759 | ||||||||
Spain — 0.7% | ||||||||
Cellnex Telecom SA(c) | 843 | 54,978 | ||||||
|
| |||||||
Sweden — 1.5% | ||||||||
Atlas Copco AB, A Shares | 81 | 5,486 | ||||||
Hexagon AB, B Shares | 350 | 5,794 | ||||||
Sandvik AB | 1,655 | 43,156 | ||||||
Volvo AB, B Shares | 3,132 | 73,858 | ||||||
|
| |||||||
128,294 | ||||||||
Switzerland — 0.1% | ||||||||
Alcon, Inc. | 71 | 5,169 | ||||||
Sika AG, Registered Shares | 15 | 5,284 | ||||||
|
| |||||||
10,453 | ||||||||
Taiwan — 1.6% | ||||||||
Cathay Financial Holding Co. Ltd. | 1,000 | 1,946 | ||||||
Chunghwa Telecom Co. Ltd. | 1,000 | 4,126 | ||||||
Formosa Chemicals & Fibre Corp. | 1,000 | 2,945 | ||||||
Formosa Plastics Corp. | 1,000 | 3,577 | ||||||
Fubon Financial Holding Co. Ltd. | 1,000 | 2,688 | ||||||
Hon Hai Precision Industry Co. Ltd. | 1,000 | 3,952 | ||||||
Nan Ya Plastics Corp. | 1,000 | 3,121 |
Security | Shares | Value | ||||||
Taiwan (continued) | ||||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 5,000 | $ | 104,497 | |||||
Uni-President Enterprises Corp. | 1,000 | 2,623 | ||||||
|
| |||||||
129,475 | ||||||||
Thailand — 0.0% | ||||||||
Intouch Holdings PCL, Class F | 1,300 | 2,551 | ||||||
Thai Beverage PCL | 1,500 | 718 | ||||||
|
| |||||||
3,269 | ||||||||
United Arab Emirates — 0.0% | ||||||||
NMC Health PLC(a)(d) | 504 | — | ||||||
|
| |||||||
United Kingdom — 3.3% | ||||||||
Alphawave IP Group PLC(a) | 1,250 | 7,409 | ||||||
Anglo American PLC | 231 | 10,236 | ||||||
AstraZeneca PLC | 569 | 65,384 | ||||||
Compass Group PLC(a) | 1,528 | 32,286 | ||||||
Genius Sports Ltd.(a) | 198 | 3,390 | ||||||
Lloyds Banking Group PLC | 74,772 | 47,276 | ||||||
Rio Tinto PLC | 123 | 10,448 | ||||||
THG PLC(a) | 294 | 2,393 | ||||||
Unilever PLC | 1,235 | 71,076 | ||||||
Vodafone Group PLC | 13,396 | 21,540 | ||||||
|
| |||||||
271,438 | ||||||||
United States — 57.8% | ||||||||
Abbott Laboratories | 708 | 85,654 | ||||||
AbbVie, Inc. | 713 | 82,922 | ||||||
Air Products & Chemicals, Inc. | 196 | 57,042 | ||||||
Albemarle Corp. | 126 | 25,961 | ||||||
Alnylam Pharmaceuticals, Inc.(a) | 41 | 7,336 | ||||||
Alphabet, Inc., Class C(a) | 77 | 208,240 | ||||||
Altair Engineering, Inc., Class A(a) | 53 | 3,697 | ||||||
AltC Acquisition Corp., Class A, Class A(a) | 322 | 3,172 | ||||||
Amazon.com, Inc.(a) | 43 | 143,086 | ||||||
American Tower Corp. | 299 | 84,557 | ||||||
Anthem, Inc. | 127 | 48,769 | ||||||
Apellis Pharmaceuticals, Inc.(a) | 58 | 3,711 | ||||||
Apple, Inc. | 1,448 | 211,205 | ||||||
Applied Materials, Inc. | 263 | 36,802 | ||||||
Aramark | 33 | 1,159 | ||||||
Atlassian Corp. PLC, Class A(a) | 31 | 10,079 | ||||||
Autodesk, Inc.(a) | 136 | 43,674 | ||||||
Bank of America Corp. | 2,883 | 110,592 | ||||||
Blend Labs, Inc., Class A(a) | 425 | 7,675 | ||||||
Boston Scientific Corp.(a) | 2,131 | 97,174 | ||||||
Bright Horizons Family Solutions, Inc.(a) | 14 | 2,093 | ||||||
Bristol-Myers Squibb Co. | 859 | 58,300 | ||||||
California Resources Corp.(a) | 112 | 3,148 | ||||||
Capital One Financial Corp. | 619 | 100,092 | ||||||
Charles Schwab Corp. | 1,102 | 74,881 | ||||||
Charter Communications, Inc., Class A(a) | 57 | 42,411 | ||||||
Coinbase Global, Inc., Class A(a) | 58 | 13,722 | ||||||
Comcast Corp., Class A | 1,475 | 86,774 | ||||||
ConocoPhillips | 1,278 | 71,645 | ||||||
Costco Wholesale Corp. | 151 | 64,888 | ||||||
Crowdstrike Holdings, Inc., Class A(a) | 89 | 22,571 | ||||||
D.R. Horton, Inc. | 610 | 58,212 | ||||||
Danimer Scientific, Inc.(a) | 66 | 1,101 | ||||||
Datadog, Inc., Class A(a) | 35 | 3,874 | ||||||
Dell Technologies, Inc., Class C(a) | 357 | 34,493 | ||||||
Devon Energy Corp. | 40 | 1,034 | ||||||
Diamondback Energy, Inc. | 14 | 1,080 | ||||||
Dynatrace, Inc.(a) | 46 | 2,938 |
2 |
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
United States (continued) | ||||||||
Edwards Lifesciences Corp.(a) | 195 | $ | 21,893 | |||||
EPAM Systems, Inc.(a) | 7 | 3,919 | ||||||
EQT Corp.(a) | 2,491 | 45,809 | ||||||
Estee Lauder Cos., Inc., Class A | 15 | 5,007 | ||||||
Facebook, Inc., Class A(a) | 149 | 53,089 | ||||||
Fifth Wall Acquisition Corp. I, Class A(a) | 453 | 5,617 | ||||||
Fortinet, Inc.(a) | 52 | 14,156 | ||||||
Fortive Corp. | 1,054 | 76,584 | ||||||
Freeport-McMoRan, Inc. | 1,777 | 67,704 | ||||||
Global Payments, Inc. | 305 | 58,990 | ||||||
Green Plains, Inc. | 130 | 4,597 | ||||||
Hilton Worldwide Holdings, Inc.(a) | 96 | 12,619 | ||||||
Home Depot, Inc. | 214 | 70,233 | ||||||
Illumina, Inc.(a) | 5 | 2,479 | ||||||
Insulet Corp.(a) | 7 | 1,958 | ||||||
International Flavors & Fragrances, Inc. | 301 | 45,343 | ||||||
Intuitive Surgical, Inc.(a) | 26 | 25,778 | ||||||
Johnson & Johnson | 800 | 137,760 | ||||||
JPMorgan Chase & Co. | 280 | 42,498 | ||||||
Khosla Ventures Acquisition Co.(a) | 340 | 3,356 | ||||||
L3Harris Technologies, Inc. | 101 | 22,901 | ||||||
Las Vegas Sands Corp.(a) | 93 | 3,938 | ||||||
Liberty Media Acquisition Corp.(a) | 734 | 7,700 | ||||||
Liberty Media Corp. - Liberty SiriusXM, Class A(a) | 438 | 20,450 | ||||||
Liberty Media Corp. - Liberty SiriusXM, Class C(a) | 620 | 28,644 | ||||||
Lions Gate Entertainment Corp., Class A(a) | 47 | 706 | ||||||
Live Nation Entertainment, Inc.(a) | 81 | 6,390 | ||||||
Lowe’s Cos., Inc. | 185 | 35,648 | ||||||
ManpowerGroup, Inc. | 35 | 4,150 | ||||||
Marqeta, Inc., Class A(a) | 190 | 5,098 | ||||||
Marsh & McLennan Cos., Inc. | 366 | 53,882 | ||||||
Mastercard, Inc., Class A | 263 | 101,502 | ||||||
McDonald’s Corp. | 275 | 66,745 | ||||||
Medallia, Inc.(a) | 488 | 16,529 | ||||||
Micron Technology, Inc.(a) | 508 | 39,411 | ||||||
Microsoft Corp. | 939 | 267,530 | ||||||
MongoDB, Inc.(a) | 21 | 7,537 | ||||||
Morgan Stanley | 641 | 61,523 | ||||||
Nevro Corp.(a) | 11 | 1,705 | ||||||
NextEra Energy, Inc. | 1,129 | 87,949 | ||||||
NVIDIA Corp. | 253 | 49,332 | ||||||
Okta, Inc.(a) | 40 | 9,912 | ||||||
O’Reilly Automotive, Inc.(a) | 10 | 6,038 | ||||||
Palo Alto Networks, Inc.(a) | 32 | 12,770 | ||||||
Parker-Hannifin Corp. | 110 | 34,323 | ||||||
PayPal Holdings, Inc.(a) | 207 | 57,035 | ||||||
Peloton Interactive, Inc., Class A(a) | 313 | 36,950 | ||||||
PPG Industries, Inc. | 297 | 48,565 | ||||||
Proofpoint, Inc.(a) | 23 | 4,017 | ||||||
PTC, Inc.(a) | 328 | 44,428 | ||||||
PubMatic, Inc., Class A(a) | 81 | 2,406 | ||||||
Regeneron Pharmaceuticals, Inc.(a) | 11 | 6,321 | ||||||
Reinvent Technology Partners Z(a) | 285 | 2,779 | ||||||
RingCentral, Inc., Class A(a) | 15 | 4,009 | ||||||
Robert Half International, Inc. | 46 | 4,518 | ||||||
salesforce.com, Inc.(a) | 315 | 76,208 | ||||||
Seagen, Inc.(a) | 26 | 3,988 | ||||||
Sempra Energy | 529 | 69,114 | ||||||
Sensata Technologies Holding PLC(a) | 37 | 2,169 | ||||||
ServiceNow, Inc.(a) | 102 | 59,965 | ||||||
Splunk, Inc.(a) | 47 | 6,673 |
Security | Shares | Value | ||||||
United States (continued) | ||||||||
TE Connectivity Ltd. | 195 | $ | 28,757 | |||||
Thermo Fisher Scientific, Inc. | 119 | 64,261 | ||||||
TJX Cos., Inc. | 701 | 48,236 | ||||||
TransDigm Group, Inc.(a) | 7 | 4,488 | ||||||
Twilio, Inc., Class A(a) | 29 | 10,834 | ||||||
Uber Technologies, Inc.(a) | 22 | 956 | ||||||
Ulta Beauty, Inc.(a) | 12 | 4,030 | ||||||
Union Pacific Corp. | 154 | 33,689 | ||||||
United Parcel Service, Inc., Class B | 436 | 83,433 | ||||||
UnitedHealth Group, Inc. | 292 | 120,368 | ||||||
Vail Resorts, Inc.(a) | 3 | 916 | ||||||
Valero Energy Corp. | 639 | 42,794 | ||||||
Vertiv Holdings Co. | 2,080 | 58,323 | ||||||
VMware, Inc., Class A(a) | 356 | 54,731 | ||||||
Vulcan Materials Co. | 334 | 60,117 | ||||||
Walmart, Inc. | 248 | 35,352 | ||||||
Walt Disney Co.(a) | 528 | 92,939 | ||||||
Wells Fargo & Co. | 148 | 6,799 | ||||||
Wynn Resorts Ltd.(a) | 87 | 8,555 | ||||||
Zimmer Biomet Holdings, Inc. | 33 | 5,393 | ||||||
Zoetis, Inc. | 18 | 3,649 | ||||||
Zscaler, Inc.(a) | 56 | 13,211 | ||||||
|
| |||||||
4,778,442 | ||||||||
|
| |||||||
Total Common Stocks — 91.6% |
| 7,580,746 | ||||||
|
| |||||||
Investment Companies |
| |||||||
United States(e)(f) — 0.2% | ||||||||
iShares China Large-Cap ETF | 152 | 6,162 | ||||||
KraneShares Bosera MSCI China A ETF, Class A | 80 | 3,594 | ||||||
KraneShares CSI China Internet ETF | 60 | 3,028 | ||||||
|
| |||||||
Total Investment Companies — 0.2% |
| 12,784 | ||||||
|
| |||||||
Preferred Securities |
| |||||||
Preferred Stocks — 0.7% | ||||||||
Brazil — 0.0% | ||||||||
Itau Unibanco Holding SA, Preference Shares | 450 | 2,618 | ||||||
|
| |||||||
Germany — 0.3% | ||||||||
Volkswagen AG, Preference Shares | 91 | 22,165 | ||||||
|
| |||||||
United States — 0.4% | ||||||||
Aptiv PLC, Series A, 06/15/23 | 63 | 11,829 | ||||||
Becton Dickinson and Co., Series B, 06/01/23 | 244 | 13,718 | ||||||
Boston Scientific Corp., Series A, 06/01/23 | 40 | 4,914 | ||||||
|
| |||||||
30,461 | ||||||||
|
| |||||||
Total Preferred Securities — 0.7% |
| 55,244 | ||||||
|
| |||||||
Warrants |
| |||||||
Cayman Islands — 0.0% | ||||||||
TPG Pace Beneficial Finance Corp., Class A(a) | 30 | 88 | ||||||
|
| |||||||
United States(a) — 0.0% | ||||||||
Cano Health, Inc. (Expires 06/03/2026) | 121 | 349 | ||||||
EVgo, Inc. | 60 | 165 |
S C H E D U L E O F I N V E S T M E N T S | 3 |
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
United States (continued) | ||||||||
Reinvent Technology Partners Z, Class A | 57 | $ | 94 | |||||
Rotor Acquisition Corp., Class A | 270 | 320 | ||||||
Tortoise Acquisition Corp. II | 70 | 130 | ||||||
|
| |||||||
1,058 | ||||||||
|
| |||||||
Total Warrants — 0.0% | ||||||||
(Cost: $1,548) | 1,146 | |||||||
|
| |||||||
Total Long-Term Investments — 92.5% | 7,649,920 | |||||||
|
| |||||||
Short-Term Securities | ||||||||
Money Market Funds — 6.6% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.01%(e)(f) | 546,558 | 546,558 | ||||||
|
| |||||||
Total Short-Term Securities — 6.6% |
| 546,558 | ||||||
|
| |||||||
Options Purchased — 0.2% |
| 15,137 | ||||||
|
| |||||||
Total Investments Before Options Written — 99.3% |
| 8,211,615 | ||||||
|
| |||||||
Options Written — (0.1)% | ||||||||
(Premiums Received: $(9,528)) | (6,757 | ) | ||||||
|
| |||||||
Total Investments, Net of Options Written — 99.2% |
| 8,204,858 | ||||||
Other Assets Less Liabilities — 0.8% | 66,880 | |||||||
|
| |||||||
Net Assets — 100.0% |
| $ | 8,271,738 | |||||
|
|
(a) | Non-income producing security. |
(b) | Rounds to less than 1,000. |
(c) | 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. |
(d) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(e) | Affiliate of the Fund. |
(f) | Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 04/30/21 | Purchases at Cost | Proceeds from Sales | Net Realized | Change in (Depreciation) | Value at 07/31/21 | Shares Held at 07/31/21 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 471,545 | $ | 75,013 | (a) | $ | — | $ | — | $ | — | $ | 546,558 | 546,558 | $ | 7 | $ | — | ||||||||||||||||||
iShares China Large-Cap ETF | 7,035 | — | — | — | (873 | ) | 6,162 | 152 | 23 | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | — | $ | (873 | ) | $ | 552,720 | $ | 30 | $ | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ (Depreciation) | ||||||||||||
Long Contracts | ||||||||||||||||
SGX Nifty 50 Index | 3 | 08/26/21 | $ | 95 | $ | (96 | ) | |||||||||
S&P/TSE 60 Index | 1 | 09/16/21 | 194 | 1,504 | ||||||||||||
FTSE 100 Index | 2 | 09/17/21 | 194 | (3,561 | ) | |||||||||||
S&P 500 E-Mini Index | 2 | 09/17/21 | 439 | 15,280 | ||||||||||||
|
| |||||||||||||||
13,127 | ||||||||||||||||
|
|
4 |
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock GA Dynamic Equity Fund |
Futures Contracts (continued)
Description | Number of Contracts | Expiration Date | Notional Amount (000) | Value/ (Depreciation) | ||||||||||||
Short Contracts | ||||||||||||||||
FTSE Taiwan Index | 2 | 08/30/21 | $ | 120 | $ | (886 | ) | |||||||||
KOSPI 200 Index | 1 | 09/09/21 | 95 | 1,508 | ||||||||||||
Nikkei 225 Yen-Denominated | 1 | 09/09/21 | 125 | 6,354 | ||||||||||||
|
| |||||||||||||||
6,976 | ||||||||||||||||
|
| |||||||||||||||
$ | 20,103 | |||||||||||||||
|
|
Forward Foreign Currency Exchange Contracts
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||||||||||||||
USD | 331,761 | EUR | 272,000 | Citibank N.A. | 09/10/21 | $ | 8,862 | |||||||||||||||||||||||||
USD | 81,842 | HKD | 635,000 | BNP Paribas S.A. | 09/10/21 | 123 | ||||||||||||||||||||||||||
USD | 83,069 | TWD | 2,306,000 | HSBC Bank USA N.A. | 09/24/21 | 401 | ||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||||
9,386 | ||||||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||||
AUD | 155,000 | USD | 119,822 | Morgan Stanley & Co. International PLC | 09/10/21 | (6,055 | ) | |||||||||||||||||||||||||
CAD | 148,000 | USD | 122,173 | Deutsche Bank AG | 09/10/21 | (3,548 | ) | |||||||||||||||||||||||||
CHF | 70,000 | USD | 78,307 | Morgan Stanley & Co. International PLC | 09/10/21 | (957 | ) | |||||||||||||||||||||||||
GBP | 95,000 | USD | 134,068 | Morgan Stanley & Co. International PLC | 09/10/21 | (2,006 | ) | |||||||||||||||||||||||||
JPY | 32,277,000 | USD | 294,627 | Morgan Stanley & Co. International PLC | 09/10/21 | (326 | ) | |||||||||||||||||||||||||
INR | 4,815,000 | USD | 65,372 | BNP Paribas S.A. | 09/17/21 | (958 | ) | |||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||||
(13,850 | ) | |||||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||||
$ | (4,464 | ) | ||||||||||||||||||||||||||||||
|
|
Exchange-Traded Options Purchased
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||
ConocoPhillips | 2 | 08/20/21 | USD | 65.00 | USD | 11 | $ | 28 | ||||||||||||||||||||
Wells Fargo & Co. | 3 | 08/20/21 | USD | 45.00 | USD | 14 | 497 | |||||||||||||||||||||
Apple, Inc. | 2 | 09/17/21 | USD | 155.00 | USD | 29 | 322 | |||||||||||||||||||||
Comcast Corp., Class A | 3 | 09/17/21 | USD | 60.00 | USD | 18 | 357 | |||||||||||||||||||||
Facebook, Inc., Class A | 1 | 09/17/21 | USD | 375.00 | USD | 36 | 605 | |||||||||||||||||||||
JPMorgan Chase & Co. | 1 | 09/17/21 | USD | 155.00 | USD | 15 | 353 | |||||||||||||||||||||
Mastercard, Inc., Class A | 1 | 09/17/21 | USD | 380.00 | USD | 39 | 1,767 | |||||||||||||||||||||
Wells Fargo & Co. | 3 | 09/17/21 | USD | 45.00 | USD | 14 | 708 | |||||||||||||||||||||
Apple, Inc. | 1 | 10/15/21 | USD | 155.00 | USD | 15 | 286 | |||||||||||||||||||||
Micron Technology, Inc. | 2 | 10/15/21 | USD | 85.00 | USD | 16 | 470 | |||||||||||||||||||||
Microsoft Corp. | 1 | 10/15/21 | USD | 305.00 | USD | 28 | 281 | |||||||||||||||||||||
Global Payments, Inc. | 1 | 11/19/21 | USD | 200.00 | USD | 19 | 1,010 | |||||||||||||||||||||
Diamondback Energy, Inc. | 1 | 12/17/21 | USD | 90.00 | USD | 8 | 540 | |||||||||||||||||||||
Diamondback Energy, Inc. | 2 | 12/17/21 | USD | 115.00 | USD | 15 | 355 | |||||||||||||||||||||
Caesars Entertainment, Inc. | 1 | 01/21/22 | USD | 100.00 | USD | 9 | 690 | |||||||||||||||||||||
Devon Energy Corp. | 3 | 01/21/22 | USD | 28.00 | USD | 8 | 727 | |||||||||||||||||||||
Devon Energy Corp. | 2 | 01/21/22 | USD | 35.00 | USD | 5 | 185 | |||||||||||||||||||||
|
| |||||||||||||||||||||||||||
9,181 | ||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||
Put | ||||||||||||||||||||||||||||
Lowe’s Cos., Inc. | 1 | 10/15/21 | USD | 190.00 | USD | 19 | 792 | |||||||||||||||||||||
|
| |||||||||||||||||||||||||||
$ | 9,973 | |||||||||||||||||||||||||||
|
|
S C H E D U L E O F I N V E S T M E N T S | 5 |
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock GA Dynamic Equity Fund |
OTC Options Purchased
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
D.R. Horton, Inc. | Citibank N.A. | 133 | 08/20/21 | USD | 90.00 | USD | 13 | $ | 848 | |||||||||||||||||||||
Global Payments, Inc. | Citibank N.A. | 140 | 08/20/21 | USD | 200.00 | USD | 27 | 616 | ||||||||||||||||||||||
LVMH Moet Hennessy Louis Vuitton SE | Barclays Bank PLC | 12 | 08/20/21 | EUR | 675.00 | EUR | 8 | 193 | ||||||||||||||||||||||
PayPal Holdings, Inc. | BNP Paribas S.A. | 54 | 08/20/21 | USD | 297.50 | USD | 15 | 63 | ||||||||||||||||||||||
Adidas AG. | Barclays Bank PLC | 20 | 09/17/21 | EUR | 330.00 | EUR | 6 | 77 | ||||||||||||||||||||||
Autodesk, Inc. | Nomura International PLC | 68 | 09/17/21 | USD | 295.00 | USD | 22 | 2,098 | ||||||||||||||||||||||
Sanofi SA | Credit Suisse International | 65 | 10/15/21 | EUR | 90.00 | EUR | 6 | 117 | ||||||||||||||||||||||
Unilever PLC | Credit Suisse International | 205 | 10/15/21 | EUR | 49.77 | EUR | 10 | 348 | ||||||||||||||||||||||
Vodafone Group PLC, ADR | BNP Paribas S.A. | 4,883 | 10/15/21 | GBP | 1.25 | GBP | 5 | 100 | ||||||||||||||||||||||
Vodafone Group PLC, ADR | Goldman Sachs International | 4,081 | 11/19/21 | GBP | 1.25 | GBP | 5 | 170 | ||||||||||||||||||||||
Amazon.com, Inc. | Citibank N.A. | 5 | 06/17/22 | USD | 4,150.00 | USD | 17 | 534 | ||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
$ | 5,164 | |||||||||||||||||||||||||||||
|
|
Exchange-Traded Options Written
Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||
Capital One Financial Corp. | 1 | 08/20/21 | USD | 160.00 | USD | 16 | $ | (507 | ) | |||||||||||||||||||
ConocoPhillips | 2 | 08/20/21 | USD | 75.00 | USD | 11 | (6 | ) | ||||||||||||||||||||
Apple, Inc. | 2 | 09/17/21 | USD | 170.00 | USD | 29 | (63 | ) | ||||||||||||||||||||
Comcast Corp., Class A | 3 | 09/17/21 | USD | 65.00 | USD | 18 | (53 | ) | ||||||||||||||||||||
Facebook, Inc., Class A | 1 | 09/17/21 | USD | 405.00 | USD | 36 | (159 | ) | ||||||||||||||||||||
Wells Fargo & Co. | 3 | 09/17/21 | USD | 52.50 | USD | 14 | (72 | ) | ||||||||||||||||||||
Lowe’s Cos., Inc. | 1 | 10/15/21 | USD | 220.00 | USD | 19 | (154 | ) | ||||||||||||||||||||
Micron Technology, Inc. | 2 | 10/15/21 | USD | 95.00 | USD | 16 | (155 | ) | ||||||||||||||||||||
Global Payments, Inc. | 1 | 11/19/21 | USD | 220.00 | USD | 19 | (465 | ) | ||||||||||||||||||||
Diamondback Energy, Inc. | 1 | 12/17/21 | USD | 130.00 | USD | 8 | (98 | ) | ||||||||||||||||||||
Diamondback Energy, Inc. | 2 | 12/17/21 | USD | 135.00 | USD | 15 | (155 | ) | ||||||||||||||||||||
Caesars Entertainment, Inc. | 1 | 01/21/22 | USD | 130.00 | USD | 9 | (176 | ) | ||||||||||||||||||||
Devon Energy Corp. | 2 | 01/21/22 | USD | 40.00 | USD | 5 | (115 | ) | ||||||||||||||||||||
Devon Energy Corp. | 3 | 01/21/22 | USD | 38.00 | USD | 8 | (217 | ) | ||||||||||||||||||||
|
| |||||||||||||||||||||||||||
(2,395 | ) | |||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||
Put | ||||||||||||||||||||||||||||
Global Payments, Inc. | 1 | 08/20/21 | USD | 170.00 | USD | 19 | (75 | ) | ||||||||||||||||||||
Wells Fargo & Co. | 3 | 08/20/21 | USD | 40.00 | USD | 14 | (38 | ) | ||||||||||||||||||||
Wells Fargo & Co. | 3 | 09/17/21 | USD | 40.00 | USD | 14 | (126 | ) | ||||||||||||||||||||
Apple, Inc. | 1 | 10/15/21 | USD | 130.00 | USD | 15 | (183 | ) | ||||||||||||||||||||
Lowe’s Cos., Inc. | 1 | 10/15/21 | USD | 175.00 | USD | 19 | (332 | ) | ||||||||||||||||||||
Microsoft Corp. | 1 | 10/15/21 | USD | 255.00 | USD | 28 | (284 | ) | ||||||||||||||||||||
Global Payments, Inc. | 1 | 11/19/21 | USD | 175.00 | USD | 19 | (665 | ) | ||||||||||||||||||||
|
| |||||||||||||||||||||||||||
(1,703 | ) | |||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||
$ | (4,098 | ) | ||||||||||||||||||||||||||
|
|
OTC Options Written
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call | ||||||||||||||||||||||||||||||
Hoya Corp. | JPMorgan Chase Bank N.A. | 44 | 08/13/21 | JPY | 16,625.69 | JPY | 678 | $ | (8 | ) | ||||||||||||||||||||
Kose Corp. | Morgan Stanley & Co. International PLC | 9 | 08/13/21 | JPY | 19,925.43 | JPY | 155 | — | ||||||||||||||||||||||
Recruit Holdings Ltd. | Goldman Sachs International | 29 | 08/13/21 | JPY | 6,191.74 | JPY | 163 | (2 | ) | |||||||||||||||||||||
Sony Group Corp. | Goldman Sachs International | 15 | 08/13/21 | JPY | 11,899.94 | JPY | 171 | (7 | ) | |||||||||||||||||||||
D.R. Horton, Inc. | Citibank N.A. | 133 | 08/20/21 | USD | 97.50 | USD | 13 | (242 | ) | |||||||||||||||||||||
LVMH Moet Hennessy Louis Vuitton SE | Barclays Bank PLC | 12 | 08/20/21 | EUR | 715.00 | EUR | 8 | (28 | ) | |||||||||||||||||||||
NXP Semiconductors NV | Nomura Securities International Inc. | 100 | 08/20/21 | USD | 225.00 | USD | 21 | (118 | ) | |||||||||||||||||||||
PayPal Holdings, Inc. | BNP Paribas S.A. | 54 | 08/20/21 | USD | 320.00 | USD | 15 | (17 | ) | |||||||||||||||||||||
Fanuc Corp. | Goldman Sachs International | 6 | 09/10/21 | JPY | 31,178.63 | JPY | 146 | (1 | ) |
6 |
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock GA Dynamic Equity Fund |
OTC Options Written (continued)
Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||||||||||||||||||||||
Call (continued) | ||||||||||||||||||||||||||||||
Hoya Corp. | JPMorgan Chase Bank N.A. | 44 | 09/10/21 | JPY | 17,001.10 | JPY | 678 | $ | (26 | ) | ||||||||||||||||||||
Recruit Holdings Ltd. | JPMorgan Chase Bank N.A. | 29 | 09/10/21 | JPY | 6,437.05 | JPY | 163 | (7 | ) | |||||||||||||||||||||
Shin-Etsu Chemical Co. Ltd. | JPMorgan Chase Bank N.A. | 34 | 09/10/21 | JPY | 20,471.64 | JPY | 604 | (11 | ) | |||||||||||||||||||||
Sony Group Corp. | Goldman Sachs International | 15 | 09/10/21 | JPY | 13,105.73 | JPY | 171 | (3 | ) | |||||||||||||||||||||
Adidas AG | Barclays Bank PLC | 20 | 09/17/21 | EUR | 360.00 | EUR | 6 | (11 | ) | |||||||||||||||||||||
Autodesk, Inc. | Nomura International PLC | 98 | 09/17/21 | USD | 325.00 | USD | 31 | (1,291 | ) | |||||||||||||||||||||
Vodafone Group PLC, ADR | Goldman Sachs International | 4,081 | 11/19/21 | GBP | 1.40 | GBP | 5 | (42 | ) | |||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
(1,814 | ) | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
Put | ||||||||||||||||||||||||||||||
D.R. Horton, Inc. | Citibank N.A. | 133 | 08/20/21 | USD | 82.50 | USD | 13 | (37 | ) | |||||||||||||||||||||
LVMH Moet Hennessy Louis Vuitton SE | Barclays Bank PLC | 12 | 08/20/21 | EUR | 605.00 | EUR | 8 | (18 | ) | |||||||||||||||||||||
PayPal Holdings, Inc. | BNP Paribas S.A. | 54 | 08/20/21 | USD | 260.00 | USD | 15 | (121 | ) | |||||||||||||||||||||
Adidas AG | Barclays Bank PLC | 20 | 09/17/21 | EUR | 295.00 | EUR | 6 | (167 | ) | |||||||||||||||||||||
Autodesk, Inc. | Nomura International PLC | 68 | 09/17/21 | USD | 250.00 | USD | 22 | (55 | ) | |||||||||||||||||||||
Sanofi SA | Credit Suisse International | 65 | 10/15/21 | EUR | 80.00 | EUR | 6 | (61 | ) | |||||||||||||||||||||
Unilever PLC | Credit Suisse International | 205 | 10/15/21 | EUR | 43.49 | EUR | 10 | (114 | ) | |||||||||||||||||||||
Amazon.com, Inc. | Citibank N.A. | 2 | 06/17/22 | USD | 2,800.00 | USD | 7 | (272 | ) | |||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
(845 | ) | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
$ | (2,659 | ) | ||||||||||||||||||||||||||||
|
|
OTC Total Return Swaps
Reference Entity | Payment Frequency | Counterparty(a) | Termination Date | Net Notional | Accrued Unrealized Appreciation (Depreciation) | Net Value of Reference Entity | Gross Notional Amount Net Asset Percentage | |||||||||||||||||
Equity Securities Long/Short | Monthly | Citibank N.A.(b) | 02/24/22 – 02/24/23 | $ | 1,768 | $ | 2,545 | (c) | $ | 4,329 | 0.5 | % | ||||||||||||
Monthly | JPMorgan Chase Bank N.A.(d) | 02/08/23 | (28,585 | ) | (733 | )(e) | (29,316 | ) | 0.3 | |||||||||||||||
|
|
|
| |||||||||||||||||||||
$ | 1,812 | $ | (24,987 | ) | ||||||||||||||||||||
|
|
|
|
(a) | The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund 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. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. |
(c) | Amount includes $(16) of net dividends and financing fees. |
(e) | Amount includes $(2) of net dividends and financing fees. |
The following are the specified benchmarks (plus or minus a range) used in determining the variable rate of interest:
(b) | (d) | |||
Range: | 18-37 basis points | 18 basis points | ||
Benchmarks: | USD - 1M US Dollar LIBOR BBA | USD - 1D Overnight Bank Funding Rate (OBFR01) | ||
USD - 1W US Dollar LIBOR BBA |
S C H E D U L E O F I N V E S T M E N T S | 7 |
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock GA Dynamic Equity Fund |
The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with Citibank N.A. as of period end, termination dates February 24, 2022 and February 24, 2023:
Security | Shares | Value | % of Basket Value | |||||||||
Reference Entity — Long | ||||||||||||
Common Stocks | ||||||||||||
Italy | ||||||||||||
Leonardo SpA, Class A | 3,008 | $ | 23,639 | 546.1 | % | |||||||
|
|
|
| |||||||||
Total Reference Entity — Long | 23,639 | |||||||||||
|
| |||||||||||
Reference Entity — Short | ||||||||||||
Common Stocks | ||||||||||||
United States | ||||||||||||
Appian Corp. | (94 | ) | (10,944 | ) | (252.8 | ) | ||||||
DoorDash, Inc., Class A | (48 | ) | (8,366 | ) | (193.3 | ) | ||||||
|
|
|
| |||||||||
Total Reference Entity — Short | (19,310 | ) | ||||||||||
|
| |||||||||||
Net Value of Reference Entity — Citibank N.A | $ | 4,329 | ||||||||||
|
|
The following table represents the individual short positions and related values of the equity securities underlying the total return swap with JPMorgan Chase Bank N.A. as of period end, termination date February 8, 2023:
Security | Shares | Value | % of Basket Value | |||||||||
Reference Entity — Short | ||||||||||||
Common Stocks | ||||||||||||
United States | ||||||||||||
JM Smucker Co. | (25 | ) | $ | (3,278 | ) | 11.2 | % | |||||
Snowflake Inc., Class A | (35 | ) | (9,300 | ) | 31.7 | |||||||
Walgreens Boots Alliance, Inc. | (355 | ) | (16,738 | ) | 57.1 | |||||||
|
|
|
| |||||||||
Net Value of Reference Entity — JPMorgan Chase Bank N.A. |
| $ | (29,316 | ) | ||||||||
|
|
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of 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); and |
• | 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 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 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 | ||||||||||||||||
Argentina | $ | 54,904 | $ | — | $ | — | $ | 54,904 | ||||||||
Australia | — | 11,040 | — | 11,040 | ||||||||||||
Brazil | 13,442 | — | — | 13,442 | ||||||||||||
Canada | 107,497 | — | — | 107,497 | ||||||||||||
Cayman Islands | 34,920 | — | — | 34,920 | ||||||||||||
Chile | 332 | — | — | 332 | ||||||||||||
China | 56,169 | 209,987 | — | 266,156 | ||||||||||||
Denmark | — | 5,850 | — | 5,850 |
8 |
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock GA Dynamic Equity Fund |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks (continued) | ||||||||||||||||
Finland | $ | — | $ | 25,941 | $ | — | $ | 25,941 | ||||||||
France | — | 380,968 | — | 380,968 | ||||||||||||
Germany | 63,682 | 386,188 | — | 449,870 | ||||||||||||
Hong Kong | — | 61,078 | — | 61,078 | ||||||||||||
Indonesia | — | 3,097 | — | 3,097 | ||||||||||||
Ireland | 33,537 | — | — | 33,537 | ||||||||||||
Israel | 34,352 | — | — | 34,352 | ||||||||||||
Italy | — | 179,591 | — | 179,591 | ||||||||||||
Japan | — | 153,567 | — | 153,567 | ||||||||||||
Netherlands | 48,502 | 238,860 | — | 287,362 | ||||||||||||
Norway | 1,247 | — | — | 1,247 | ||||||||||||
Poland | — | 6,039 | — | 6,039 | ||||||||||||
Portugal | 2,506 | — | — | 2,506 | ||||||||||||
Singapore | — | 8,342 | — | 8,342 | ||||||||||||
South Korea | — | 82,759 | — | 82,759 | ||||||||||||
Spain | — | 54,978 | — | 54,978 | ||||||||||||
Sweden | 5,794 | 122,500 | — | 128,294 | ||||||||||||
Switzerland | 5,169 | 5,284 | — | 10,453 | ||||||||||||
Taiwan | — | 129,475 | — | 129,475 | ||||||||||||
Thailand | 2,551 | 718 | — | 3,269 | ||||||||||||
United Arab Emirates | — | — | — | — | ||||||||||||
United Kingdom | 13,192 | 258,246 | — | 271,438 | ||||||||||||
United States | 4,778,442 | — | — | 4,778,442 | ||||||||||||
Investment Companies | 12,784 | — | — | 12,784 | ||||||||||||
Preferred Securities | ||||||||||||||||
Preferred Stocks | ||||||||||||||||
Brazil | 2,618 | — | — | 2,618 | ||||||||||||
Germany | — | 22,165 | — | 22,165 | ||||||||||||
United States | 30,461 | — | — | 30,461 | ||||||||||||
Warrants | 1,146 | — | — | 1,146 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 546,558 | — | — | 546,558 | ||||||||||||
Options Purchased | ||||||||||||||||
Equity Contracts | 9,973 | 5,164 | — | 15,137 | ||||||||||||
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$ | 5,859,778 | $ | 2,351,837 | $ | — | $ | 8,211,615 | |||||||||
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Derivative Financial Instruments(a) | ||||||||||||||||
Assets | ||||||||||||||||
Equity Contracts | $ | 24,646 | $ | 2,545 | $ | — | $ | 27,191 | ||||||||
Foreign Currency Exchange Contracts. | — | 9,386 | — | 9,386 | ||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | (8,641 | ) | (3,392 | ) | — | (12,033 | ) | |||||||||
Foreign Currency Exchange Contracts | — | (13,850 | ) | — | (13,850 | ) | ||||||||||
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$ | 16,005 | $ | (5,311 | ) | $ | — | $ | 10,694 | ||||||||
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(a) | 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. |
S C H E D U L E O F I N V E S T M E N T S | 9 |
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock GA Dynamic Equity Fund |
Currency Abbreviation | ||
AUD | Australian Dollar | |
CAD | Canadian Dollar | |
CHF | Swiss Franc | |
EUR | Euro | |
GBP | British Pound | |
HKD | Hong Kong Dollar | |
INR | Indian Rupee | |
JPY | Japanese Yen | |
TWD | New Taiwan Dollar | |
USD | United States Dollar | |
Portfolio Abbreviation | ||
ADR | American Depositary Receipt | |
ETF | Exchange-Traded Fund | |
FTSE | Financial Times Stock Exchange | |
MSCI | Morgan Stanley Capital International | |
PCL | Public Company Limited | |
S&P | Standard & Poor’s |
10 |