BlackRock Funds IV NPORTP BlackRock Global Long/Short Credit Fund (Apr 2024 report)

Schedule

Investments

(unaudited)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Par

(000)

(

000)

Value

Asset-Backed

Securities

Cayman

Islands

—

0.4%

(a)(b)

Apidos

CLO

XXIV,

Series

2016-24A,

Class

A1AL,

(3-mo.

CME

Term

SOFR

0.95%

Floor

1.21%),

6.54%,

10/20/30

............

USD

231

231,729

Benefit

Street

Partners

CLO

XII

Ltd.,

Series

2017-12A,

Class

A1R,

(3-mo.

CME

Term

SOFR

0.95%

Floor

1.21%),

6.54%,

10/15/30

.......

139

138,763

BlueMountain

CLO

Ltd.,

Series

2015-

3A,

Class

A1R,

(3-mo.

CME

Term

SOFR

1.00%

Floor

1.26%),

6.59%,

04/20/31

............

196

196,381

Carlyle

Global

Market

Strategies

CLO

Ltd.

Series

2014-2RA,

Class

A1,

(3-mo.

CME

Term

SOFR

1.05%

Floor

1.31%),

6.62%,

05/15/31

...

203

203,394

Series

2014-3RA,

Class

A1A,

(3-mo.

CME

Term

SOFR

0.00%

Floor

1.31%),

6.64%,

07/27/31

...

177

177,191

CIFC

Funding

Ltd.,

Series

2015-3A,

Class

AR,

(3-mo.

CME

Term

SOFR

0.87%

Floor

1.13%),

6.46%,

04/19/29

.................

107

107,166

Dryden

Senior

Loan

Fund,

Series

2015-41A,

Class

AR,

(3-mo.

CME

Term

SOFR

0.97%

Floor

1.23%),

6.56%,

04/15/31

.......

202

202,001

Flatiron

CLO

Ltd.,

Series

2018-1A,

Class

(3-mo.

CME

Term

SOFR

0.95%

Floor

1.21%),

6.53%,

04/17/31

.................

157

157,389

Galaxy

CLO

Ltd.,

Series

2015-20A,

Class

AR,

(3-mo.

CME

Term

SOFR

1.00%

Floor

1.26%),

6.59%,

04/20/31

.................

165

164,924

Galaxy

XXVIII

CLO

Ltd.,

Series

2018-

28A,

Class

A2,

(3-mo.

CME

Term

SOFR

1.07%

Floor

1.56%),

6.89%,

07/15/31

............

183

183,983

Generate

CLO

Ltd.,

Series

4A,

Class

A1R,

(3-mo.

CME

Term

SOFR

1.09%

Floor

1.35%),

6.68%,

04/20/32

.................

216

216,508

Madison

Park

Funding

XVII

Ltd.,

Series

2015-17A,

Class

AR2,

(3-mo.

CME

Term

SOFR

1.00%

Floor

1.26%),

6.59%,

07/21/30

.......

205

205,417

OCP

CLO

Ltd.,

Series

2017-14A,

Class

A1A,

(3-mo.

CME

Term

SOFR

1.15%

Floor

1.41%),

6.73%,

11/20/30

..................

178

177,593

Octagon

Investment

Partners

Ltd.,

Series

2017-1A,

Class

A1R,

(3-mo.

CME

Term

SOFR

0.95%

Floor

1.21%),

6.54%,

07/15/29

.......

167

166,947

Octagon

Investment

Partners

Ltd.,

Series

2017-1A,

Class

A1,

(3-mo.

CME

Term

SOFR

0.26%

Floor

1.45%),

6.78%,

01/20/31

.......

147

146,653

Palmer

Square

Loan

Funding

Ltd.

Series

2021-2A,

Class

A1,

(3-mo.

CME

Term

SOFR

1.06%

Floor

1.06%),

6.38%,

05/20/29

...

81,539

Security

Par

(000)

Par

(000)

Value

Cayman

Islands

(continued)

Series

2021-4A,

Class

A1,

(3-mo.

CME

Term

SOFR

1.06%

Floor

1.06%),

6.39%,

10/15/29

...

USD

116

115,179

Pikes

Peak

CLO

Series

2018-1A,

Class

(3-mo.

CME

Term

SOFR

1.18%

Floor

1.44%),

6.76%,

07/24/31

.................

229

229,210

Regatta

Funding

Ltd.,

Series

2018-

1A,

Class

(3-mo.

CME

Term

SOFR

0.00%

Floor

1.33%),

6.65%,

07/17/31

............

195

195,371

Shackleton

CLO

Ltd.,

Series

2017-10A,

Class

AR2,

(3-mo.

CME

Term

SOFR

0.89%

Floor

1.15%),

6.48%,

04/20/29

.................

107

106,626

Stratus

CLO

Ltd.,

Series

2021-2A,

Class

(3-mo.

CME

Term

SOFR

0.90%

Floor

1.16%),

6.49%,

12/28/29

.................

131

131,201

TCI-Flatiron

CLO

Ltd.,

Series

2016-1A,

Class

AR3,

(3-mo.

CME

Term

SOFR

1.10%

Floor

1.10%),

6.42%,

01/17/32

.................

147

146,709

3,681,874

Ireland

—

7.0%

(b)(c)

Aqueduct

European

CLO

DAC,

Series

2022-7X,

Class

(3-mo.

EURIBOR

2.05%

Floor

2.05%),

5.99%,

03/15/36

.................

EUR

2,002

2,145,015

Arini

European

CLO

DAC

Series

1X,

Class

(3-mo.

EURIBOR

1.90%

Floor

1.90%),

5.83%,

07/15/36

....

1,000

1,073,639

Series

1X,

Class

(3-mo.

EURIBOR

6.04%

Floor

6.04%),

9.97%,

07/15/36

....

480

522,510

Arini

European

CLO

DAC,

Series

2X,

Class

(3-mo.

EURIBOR

1.55%

Floor

1.55%),

5.42%,

04/15/38

1,500

1,600,800

Aurium

CLO

DAC,

Series

4X,

Class

AR,

(3-mo.

EURIBOR

0.73%

Floor

0.73%),

4.65%,

01/16/31

897

951,934

Aurium

CLO

VIII

DAC,

Series

8X,

Class

(3-mo.

EURIBOR

0.85%

Floor

0.85%),

4.78%,

06/23/34

.....

1,500

1,580,271

Avoca

CLO

XIV

DAC

Series

14X,

Class

ER,

(3-mo.

EURIBOR

4.70%

Floor

4.70%),

8.61%,

01/12/31

....

1,970

2,097,358

Series

14X,

Class

FR,

(3-mo.

EURIBOR

6.35%

Floor

6.35%),

10.26%,

01/12/31

....

2,200

2,293,709

Series

14X,

Class

SUB,

0.00%,

01/12/31

...............

1,500

772,546

Avoca

CLO

DAC

Series

15X,

Class

ER,

(3-mo.

EURIBOR

4.13%

Floor

4.13%),

8.04%,

04/15/31

....

1,765

1,837,731

Series

15X,

Class

FR,

(3-mo.

EURIBOR

5.84%

Floor

5.84%),

9.75%,

04/15/31

....

3,425

3,465,231

Capital

Four

CLO

DAC,

Series

5X,

Class

(3-mo.

EURIBOR

1.84%

Floor

1.84%),

5.72%,

04/25/36

2,968

3,200,221

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Ireland

(continued)

CIFC

European

Funding

CLO

DAC,

Series

4X,

Class

(3-mo.

EURIBOR

0.95%

Floor

0.95%),

4.85%,

08/18/35

............

EUR

2,800

2,961,299

Contego

CLO

DAC,

Series

6X,

Class

AR,

(3-mo.

EURIBOR

0.79%

Floor

0.79%),

4.70%,

04/15/34

4,400

4,636,374

Contego

CLO

VII

DAC,

Series

7X,

Class

(3-mo.

EURIBOR

3.95%

Floor

3.95%),

7.84%,

05/14/32

200

213,525

CVC

Cordatus

Loan

Fund

XXII

DAC,

Series

22X,

Class

(3-mo.

EURIBOR

3.15%

Floor

3.15%),

7.09%,

12/15/34

............

400

418,289

CVC

Cordatus

Loan

Fund

XXX

DAC,

Series

30X,

Class

(3-mo.

EURIBOR

1.48%

Floor

1.48%),

5.35%,

05/15/37

............

2,000

2,139,891

Fidelity

Grand

Harbour

CLO

DAC,

Series

2023-1X,

Class

(3-mo.

EURIBOR

1.90%

Floor

1.90%),

5.80%,

08/15/36

............

4,800

5,182,463

Henley

CLO

DAC,

Series

1X,

Class

AR,

(3-mo.

EURIBOR

0.95%

Floor

0.95%),

4.83%,

07/25/34

1,500

1,588,007

Invesco

Euro

CLO

III

DAC,

Series

3X,

Class

(3-mo.

EURIBOR

8.07%

Floor

8.07%),

11.98%,

07/15/32

659

684,920

Invesco

Euro

CLO

DAC,

Series

9X,

Class

(3-mo.

EURIBOR

1.65%

Floor

1.65%),

5.55%,

04/20/36

3,000

3,206,155

Margay

CLO

DAC

Series

1X,

Class

(3-mo.

EURIBOR

1.95%

Floor

1.95%),

5.86%,

07/15/36

....

2,928

3,158,811

Series

1X,

Class

(3-mo.

EURIBOR

6.40%

Floor

6.40%),

10.31%,

07/15/36

....

285

311,690

Neuberger

Berman

Loan

Advisers

Euro

CLO,

Series

2021-1X,

Class

(3-mo.

EURIBOR

5.52%

Floor

5.52%),

9.41%,

04/17/34

.......

438

464,300

OCP

Euro

CLO

DAC,

Series

2017-2X,

Class

(3-mo.

EURIBOR

6.40%

Floor

6.40%),

10.31%,

01/15/32

1,000

1,067,650

Palmer

Square

European

CLO

DAC,

Series

2023-1X,

Class

(3-mo.

EURIBOR

1.90%

Floor

1.90%),

5.81%,

07/15/36

............

4,700

5,046,255

Rockfield

Park

CLO

DAC,

Series

1X,

Class

(3-mo.

EURIBOR

3.00%

Floor

3.00%),

6.92%,

07/16/34

870

916,111

RRE

Loan

Management

DAC,

Series

18X,

Class

A1,

(3-mo.

EURIBOR

1.47%

Floor

1.47%),

5.38%,

04/15/39

............

2,000

2,145,542

Tikehau

CLO

VII

DAC,

Series

7X,

Class

(3-mo.

EURIBOR

2.00%

Floor

2.00%),

5.90%,

10/20/35

4,500

4,823,375

60,505,622

Security

Par

(000)

Par

(000)

Value

United

Kingdom

—

0.4%

Greene

King

Finance

plc,

Series

B1, (Sterling

Overnight

Index

Average

1.92%),

7.15%,

12/15/34

(b)

................

GBP

1,518

1,602,932

Unique

Pub

Finance

Co.

plc

(The),

Series

N, 6.46%,

03/30/32

(c)(d)

...

1,575

2,059,828

3,662,760

United

States

—

0.1%

(a)(b)

Carlyle

Global

Market

Strategies

CLO

Ltd.,

Series

2013-1A,

Class

A1RR,

(3-mo.

CME

Term

SOFR

0.95%

Floor

1.21%),

6.52%,

08/14/30

USD

125

124,526

Flatiron

CLO

Ltd.,

Series

2017-1A,

Class

AR,

(3-mo.

CME

Term

SOFR

0.98%

Floor

1.24%),

6.55%,

05/15/30

.................

245

244,773

GoldenTree

Loan

Opportunities

Ltd.,

Series

2015-10A,

Class

AR,

(3-mo.

CME

Term

SOFR

1.12%

Floor

1.38%),

6.71%,

07/20/31

.......

170

170,434

Greenwood

Park

CLO

Ltd.,

Series

2018-1A,

Class

A1,

(3-mo.

CME

Term

SOFR

1.03%

Floor

1.29%),

6.62%,

04/15/31

.......

167

166,993

706,726

Total

Asset-Backed

Securities

—

7.9%

(Cost:

$70,608,202)

..............................

68,556,982

Common

Stocks

France

—

0.0%

Casino

Guichard

Perrachon

(e)

...

1,622,317

49,689

Germany

—

0.0%

ADLER

Group

(a)(c)(e)

..........

9,839

1,838

ADLER

Group

.............

58,283

10,885

12,723

Luxembourg

—

0.0%

(e)(f)

New

TOPCO

(g)

................

59,462

Travelport

Finance

SARL

........

201,664

201,665

United

Kingdom

—

0.0%

(e)

Genius

Sports

Ltd.

.............

42,682

215,117

NEW

Look

Retailers

(f)

...........

5,436,112

215,185

United

States

—

0.9%

Aiven,

Inc.,

Series

(e)(f)

..........

6,597

426,166

Altice

USA,

Inc.

Class

(e)

........

28,023

54,084

Amkor

Technology,

Inc.

..........

5,000

161,750

Astra

Space,

Inc.

Class

(e)

.......

3,047

2,072

Avaya,

Inc.

(e)

.................

2,625

11,156

Boyd

Gaming

Corp.

............

877

46,928

Caesars

Entertainment,

Inc.

(e)

.....

5,931

212,448

California

Resources

Corp.

.......

590

31,187

Centuri

Holdings,

Inc.

(e)

..........

1,365

33,784

Cheniere

Energy,

Inc.

...........

912

143,932

Chesapeake

Energy

Corp.

.......

794

71,365

Citigroup,

Inc.

................

3,486

213,796

Comerica,

Inc.

................

923

46,307

Crown

PropTech

Acquisitions

(e)(f)

....

11,148

2,341

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Value

United

States

(continued)

Crown

PropTech

Acquisitions

(e)(f)

....

4,038

—

Crown

PropTech

Acquisitions

Class

(e)

6,461

69,391

Customers

Bancorp,

Inc.

(e)

........

276

12,605

DiamondRock

Hospitality

Co.

(h)

....

15,329

136,428

Fanatics

Holdings,

Inc.

Class

(Acquired

12/15/21,

cost

$1,041,005)

(e)(f)(i)

............

15,345

1,082,283

First

Citizens

BancShares,

Inc.

Class

64,097

Forestar

Group,

Inc.

(e)

...........

3,273

101,430

Freewire

Technologies,

Inc.

(e)(f)

.....

50,912

Golden

Entertainment,

Inc.

.......

1,570

50,319

Green

Plains,

Inc.

(e)

............

10,121

209,201

HawkEye

360,

Inc.

(e)(f)

...........

34,579

324,697

International

Bancshares

Corp.

....

430

23,930

Landsea

Homes

Corp.

(e)

.........

5,918

68,353

Latch,

Inc.

(e)

.................

31,344

15,675

Lions

Gate

Entertainment

Corp.

Class

(e)

.....................

90,865

916,828

Lions

Gate

Entertainment

Corp.

Class

(e)

.....................

40,000

377,200

Loar

Holdings,

Inc.

(e)

............

2,878

Marathon

Petroleum

Corp.

.......

1,262

229,331

New

Look

Builders,

Inc.

(e)(f)

.......

11,518,792

115

New

York

Community

Bancorp,

Inc.

17,300

45,845

Palladyne

Corp.

(e)

............

2,874

3,880

Palladyne

Corp.

(e)

............

35,000

47,251

Palladyne

Corp.

(e)

............

879

1,186

Paramount

Global

Class

.......

27,500

313,225

Park

Hotels

Resorts,

Inc.

.......

8,214

132,492

Playstudios,

Inc.

(e)

.............

50,453

108,978

Screaming

Eagle

Acquisition

Corp.

Class

(e)

.................

30,000

322,200

Service

Properties

Trust

.........

21,310

130,630

Smith

Douglas

Homes

Corp.

(e)

.....

1,690

49,128

Sonder

Holdings,

Inc.

Class

(e)

....

2,393

9,570

Sunstone

Hotel

Investors,

Inc.

.....

9,225

94,095

Texas

Capital

Bancshares,

Inc.

(e)

...

917

52,636

Transocean

Ltd.

(e)

.............

47,745

249,229

Tribune

Resources

LLC

(e)

........

86,655

132,842

United

States

Steel

Corp.

........

5,365

195,823

Valero

Energy

Corp.

............

720

115,106

7,197,105

Zambia

—

0.0%

First

Quantum

Minerals

Ltd.

.......

324

4,114

Total

Common

Stocks

—

0.9%

(Cost:

$20,376,381)

..............................

7,680,481

Par

(000)

(

000)

Corporate

Bonds

Australia

—

0.1%

Mineral

Resources

Ltd.,

9.25%

10/01/28

(a)

................

USD

79,674

Oceana

Australian

Fixed

Income

Trust

(f)

12.00%,

08/31/25

...........

AUD

178

115,378

12.50%,

07/31/26

...........

267

173,395

12.50%,

07/31/27

...........

445

289,366

657,813

Austria

—

0.4%

ams-OSRAM

(c)

0.00%,

03/05/25

(j)(k)

..........

EUR

1,200

1,205,743

2.13%,

11/03/27

(k)

...........

1,300

1,028,034

Security

Par

(000)

Par

(000)

Value

Austria

(continued)

10.50%,

03/30/29

...........

EUR

1,385

1,478,072

3,711,849

Canada

—

0.1%

(a)

Brookfield

Residential

Properties,

Inc.,

5.00%

06/15/29

............

USD

100

88,545

Dye

Durham

Ltd.,

8.63%

04/15/29

88,860

Garda

World

Security

Corp.

9.50%,

11/01/27

............

49,770

7.75%,

02/15/28

............

27,296

Mattamy

Group

Corp.

5.25%,

12/15/27

............

20,106

4.63%,

03/01/30

............

217

194,324

468,901

Chile

—

0.0%

Kenbourne

Invest

(a)

6.88%,

11/26/24

............

9,222

4.70%,

01/22/28

............

200

79,500

88,722

China

—

0.3%

(c)(e)(l)

European

TopSoho

SARL,

Series

SMCP,

4.00%

09/21/21

(k)

......

EUR

7,100

2,273,136

Fantasia

Holdings

Group

Co.

Ltd.,

11.75%

04/17/22

...........

USD

200

3,000

2,276,136

Cyprus

—

0.1%

Bank

Cyprus

PCL

(1-Year

EUR

Swap

Annual

2.79%),

2.50%,

06/24/27

(b)(c)

EUR

1,110

1,124,699

Czech

Republic

—

0.2%

Allwyn

Entertainment

Financing

plc

7.25%,

04/30/30

(c)

...........

1,544

1,713,667

Denmark

—

0.1%

SGL

Group

ApS,

(3-mo.

EURIBOR

0.00%

Floor

4.75%),

8.65%

04/22/30

(b)

................

538

569,847

Finland

—

0.1%

Ahlstrom

Holding

Oy,

4.88%

02/04/28

(a)

................

USD

640

585,792

France

—

2.3%

Altice

France

(c)

2.50%,

01/15/25

............

EUR

195

185,317

5.88%,

02/01/27

............

2,602

2,006,277

11.50%,

02/01/27

...........

419

361,750

Atos

(c)

0.00%,

11/06/24

(j)(k)

..........

2,000

384,189

1.75%,

05/07/25

............

100

20,651

BNP

Paribas

SA,

Series

TMO,

(BFRTMO

0.00%

Floor

0.25%),

2.82%

(b)(m)

.................

1,163

1,178,694

Clariane

(5-Year

U.K.

Government

Bonds

Note

Generic

Bid

Yield

9.08%),

4.13%

(b)(c)(m)

.............

GBP

3,200

2,778,999

Eutelsat

SA,

1.50%

10/13/28

(c)

....

EUR

1,500

1,173,514

Goldstory

SAS

(c)

6.75%,

02/01/30

............

759

824,180

(3-mo.

EURIBOR

0.00%

Floor

4.00%),

7.91%,

02/01/30

(b)

...

529

567,191

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Par

(000)

Par

(000)

Value

France

(continued)

Financiere

Atalian

SASU,

8.50%

(8.50%

Cash

5.00%

PIK),

06/30/28

(c)(n)

...............

EUR

2,752

1,913,717

Nova

Alexandre

III

SAS,

(3-mo.

EURIBOR

0.00%

Floor

5.25%),

9.11%

07/15/29

(b)(c)

..........

469

494,260

Picard

Bondco

SA,

5.38%

07/01/27

(c)

700

713,423

Picard

Groupe

SAS,

3.88%

07/01/26

(c)

1,573

1,633,354

RCI

Banque

SA,

(5-Year

EUR

Swap

Annual

2.85%),

2.63%

02/18/30

(b)

(c)

......................

3,400

3,542,848

Sabena

Technics

SAS,

(Acquired

10/28/22,

cost

$292,597),

(3-mo.

EURIBOR

5.00%),

8.90%

09/30/29

(b)(f)(i)

...............

297

317,437

Worldline

SA,

0.00%

07/30/26

(c)(j)(k)

2,174

2,103,548

20,199,349

Germany

—

3.3%

ADLER

Group

SA,

21.00%

(21.00%

Cash

21.00%

PIK),

07/31/25

(c)(n)

1,700

1,651,714

Agps

Bondco

plc

(c)(e)(l)

6.00%,

08/05/25

............

1,900

780,657

5.50%,

11/13/26

............

700

274,537

5.00%,

04/27/27

............

1,900

744,159

5.00%,

01/14/29

............

2,300

887,078

Aroundtown

Finance

SARL

(b)(m)

7.88%

...................

USD

1,500

983,895

(5-Year

EURIBOR

ICE

Swap

Rate

4.51%),

7.13%

(c)

.........

EUR

1,200

858,029

Aroundtown

(c)

(5-Year

GBP

Swap

4.38%),

4.75%

(b)(m)

...............

GBP

2,097

1,789,932

2.00%,

11/02/26

............

EUR

1,000

969,124

0.38%,

04/15/27

............

1,500

1,348,674

1.45%,

07/09/28

............

2,300

2,036,490

Commerzbank

(b)(c)

(5-Year

EUR

Swap

Annual

6.36%),

6.13%

(m)

..........

4,400

4,613,506

(5-Year

U.K.

Government

Bonds

Note

Generic

Bid

Yield

5.25%),

8.63%,

02/28/33

..........

GBP

600

787,315

DEMIRE

Deutsche

Mittelstand

Real

Estate

AG,

1.88%

10/15/24

(c)

...

EUR

2,400

1,911,739

Deutsche

Bank

(b)(c)

(USISOA05

0.00%

Floor

4.36%),

4.79%

(m)

..........

USD

1,200

1,104,000

(5-Year

EURIBOR

ICE

Swap

Rate

3.30%),

4.00%,

06/24/32

...

EUR

2,000

2,050,808

Envalior,

13.63%

03/31/31

(f)

......

458

458,522

Troplast

GmbH,

9.38%

07/15/28

(c)

776

861,273

Mahle

GmbH,

6.50%

05/02/31

(c)

...

505

539,610

Techem

Verwaltungsgesellschaft

674

mbH,

6.00%

07/30/26

(c)

.......

636

677,562

Tele

Columbus

AG,

10.00%

03/19/29

(b)

(c)

......................

307

199,356

TUI

Cruises

GmbH,

6.50%

05/15/26

(c)

454

489,354

Volkswagen

International

Finance

NV,

(9-Year

EUR

Swap

Annual

3.96%),

3.88%

(b)(c)(m)

..........

2,300

2,264,332

Wintershall

Dea

Finance

BV,

Series

NC8,

(5-Year

EUR

Swap

Annual

3.32%),

3.00%

(b)(c)(m)

..........

700

650,859

28,932,525

Security

Par

(000)

Par

(000)

Value

Greece

—

0.2%

National

Bank

Greece

SA,

(5-Year

EURIBOR

ICE

Swap

Rate

3.15%),

5.88%

06/28/35

(b)(c)

..........

EUR

1,450

1,551,309

Hong

Kong

—

0.8%

FWD

Group

Holdings

Ltd.,

8.40%

04/05/29

(a)

................

USD

7,119

7,245,807

Ireland

—

1.2%

Bank

Ireland

Group

plc,

(5-Year

EUR

Swap

Annual

7.92%),

7.50%

(b)(c)(m)

EUR

2,808

3,041,648

Icon

Investments

Six

DAC

5.81%,

05/08/27

............

USD

3,000

3,000,000

5.85%,

05/08/29

............

4,000

4,000,000

10,041,648

Israel

—

0.1%

Teva

Pharmaceutical

Finance

Netherlands

BV,

7.38%

09/15/29

EUR

888

1,045,995

Italy

—

2.5%

Azzurra

Aeroporti

SpA,

2.63%

05/30/27

(c)

................

992

996,384

Davide

Campari-Milano

NV,

2.38%

01/17/29

(c)(k)

...............

1,200

1,316,965

Engineering

Ingegneria

Informatica

SpA

11.13%

05/15/28

(c)

.......

2,271

2,491,472

Fiber

Bidco

SpA

(c)

11.00%,

10/25/27

...........

680

781,938

(3-mo.

EURIBOR

0.00%

Floor

4.00%),

7.91%,

01/15/30

(b)

...

600

643,134

IMA

Industria

Macchine

Automatiche

SpA

(3-mo.

EURIBOR

0.00%

Floor

3.75%),

7.65%

04/15/29

(b)(c)

1,132

1,220,634

Infrastrutture

Wireless

Italiane

SpA

1.63%

10/21/28

(c)

...........

2,604

2,544,748

Intesa

Sanpaolo

SpA

5.02%,

06/26/24

(a)

...........

USD

1,150

1,146,798

5.15%,

06/10/30

(c)

...........

GBP

699

798,687

8.51%,

09/20/32

(c)

...........

364

489,451

Nexi

SpA

0.00%

02/24/28

(c)(j)(k)

....

EUR

3,600

3,245,789

Rekeep

SpA,

7.25%

02/01/26

(c)

....

1,059

1,023,364

Rossini

SARL,

6.75%

10/30/25

(c)

...

2,661

2,835,190

Telecom

Italia

Capital

6.38%,

11/15/33

............

USD

264

233,243

6.00%,

09/30/34

............

646

543,949

7.20%,

07/18/36

............

579

524,485

7.72%,

06/04/38

............

638

593,182

Telecom

Italia

SpA,

5.25%

03/17/55

(c)

EUR

400

366,344

21,795,757

Japan

—

1.1%

Rakuten

Group,

Inc.,

9.75%

04/15/29

(a)

USD

400

396,133

SoftBank

Group

Corp.

(c)

2.13%,

07/06/24

............

EUR

5,062

5,353,547

3.13%,

09/19/25

............

1,250

1,302,371

3.38%,

07/06/29

............

230

222,751

4.00%,

09/19/29

............

240

237,825

3.88%,

07/06/32

............

1,963

1,838,287

9,350,914

Jersey,

Channel

Islands

—

0.2%

Aston

Martin

Capital

Holdings

Ltd.

10.00%,

03/31/29

(a)

..........

USD

200

195,879

10.38%,

03/31/29

(c)

..........

GBP

1,456

1,814,796

2,010,675

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Luxembourg

—

1.2%

Altice

Financing

2.25%,

01/15/25

(c)

...........

EUR

1,280

1,319,913

9.63%,

07/15/27

(a)

...........

USD

1,175

1,104,762

Codere

New

Holdco

7.50%,

11/30/27

(c)

...........

EUR

1,514

22,618

7.50%,

11/30/27

(a)

...........

197

2,103

Cullinan

Holdco

Scsp,

4.63%

10/15/26

(c)

................

1,181

1,024,758

Ephios

Subco

SARL,

7.88%

01/31/31

(c)

................

1,141

1,246,778

Garfunkelux

Holdco

SA,

6.75%

11/01/25

(c)

.................

2,877

2,149,234

INEOS

Finance

plc,

6.38%

04/15/29

(c)

709

760,428

Kleopatra

Holdings

SCA,

6.50%

09/01/26

(c)

................

1,388

692,940

Vivion

Investments

SARL

(c)

3.00%,

08/08/24

............

1,600

1,646,476

7.90%,

(7.90%

Cash

7.90%

PIK),

02/28/29

(n)

..............

898

806,944

10,776,954

Netherlands

—

0.8%

ABN

AMRO

Bank

NV,

(5-Year

EUR

Swap

Annual

4.24%),

6.88%

(b)(c)(m)

700

756,378

ING

Groep

NV,

(5-Year

Treasury

Yield

Curve

Rate

Note

Constant

Maturity

2.86%),

3.88%

(b)(m)

....

USD

1,857

1,520,679

Titan

Holdings

BV,

5.13%

07/15/29

(c)

EUR

1,100

1,038,886

Vendor

Financing

BV,

2.88%

01/15/29

(c)

................

3,960

3,639,908

6,955,851

Norway

—

0.3%

Var

Energi

ASA,

(5-Year

EURIBOR

ICE

Swap

Rate

4.77%),

7.86%

11/15/83

(b)(c)

...............

2,525

2,883,308

Portugal

—

1.7%

Banco

Espirito

Santo

(c)(e)(l)

2.63%,

05/08/17

............

6,100

1,822,777

4.75%,

01/15/18

............

19,300

5,767,149

4.00%,

01/21/25

............

22,800

6,813,005

14,402,931

Romania

—

0.4%

RCS

RDS

(c)

2.50%,

02/05/25

............

500

522,256

3.25%,

02/05/28

............

2,800

2,752,155

3,274,411

Slovenia

—

0.3%

(c)

Summer

BidCo

BV,

10.00%

02/15/29

591

634,291

United

Group

BV,

(3-mo.

EURIBOR

0.00%

Floor

4.25%),

8.13%

02/15/31

(b)

................

1,549

1,653,093

2,287,384

South

Korea

—

0.2%

Hynix,

Inc.,

6.25%

01/17/26

(a)

...

USD

2,000

2,007,500

Spain

—

1.2%

Cellnex

Telecom

(c)

2.13%,

08/11/30

(k)

...........

EUR

3,700

3,938,614

1.75%,

10/23/30

............

700

646,570

0.75%,

11/20/31

(k)

...........

2,700

2,355,285

Cirsa

Finance

International

SARL

(c)

7.88%,

07/31/28

............

482

542,653

Security

Par

(000)

Par

(000)

Value

Spain

(continued)

(3-mo.

EURIBOR

4.50%),

8.36%,

07/31/28

(b)

..............

EUR

940

1,020,483

6.50%,

03/15/29

............

403

437,941

Kaixo

Bondco

Telecom

SA,

5.13%

09/30/29

(c)

................

560

572,051

Natural

Foods,

(6-mo.

EURIBOR

0.00%

Floor

6.75%),

10.36%

10/13/29

(b)(f)

................

698

737,879

10,251,476

Sweden

—

0.9%

Heimstaden

Bostad

(c)

(5-Year

EUR

Swap

Annual

3.67%),

3.25%

(b)(m)

.........

531

408,012

1.13%,

01/21/26

............

332

321,494

(5-Year

EUR

Swap

Annual

3.15%),

2.63%

(b)(m)

.........

124

77,161

Heimstaden

Bostad

Treasury

(c)

0.63%,

07/24/25

............

332

328,206

1.38%,

03/03/27

............

332

304,300

1.00%,

04/13/28

............

996

853,003

Intrum

(c)

3.00%,

09/15/27

............

3,595

2,337,439

9.25%,

03/15/28

............

438

313,180

Stena

International

(a)

7.25%,

01/15/31

............

USD

2,675

2,677,159

7.63%,

02/15/31

............

425

429,564

8,049,518

Switzerland

—

0.5%

Credit

Suisse

AG,

0.25%

09/01/28

(c)

EUR

900

827,772

Julius

Baer

Group

Ltd.,

(5-Year

EUR

Swap

Annual

3.85%),

6.63%

(b)(c)(m)

698

712,316

UBS

Group

(b)

(5-Year

USD

Swap

Semi

4.87%),

7.00%

(c)(m)

...............

USD

2,250

2,240,172

(1-Year

EURIBOR

ICE

Swap

Rate

0.77%),

0.65%,

01/14/28

(c)

EUR

500

487,986

(5-Year

Treasury

Yield

Curve

Rate

Note

Constant

Maturity

4.75%),

9.25%

(a)(m)

.........

USD

225

240,126

4,508,372

United

Arab

Emirates

—

0.1%

(a)

Shelf

Drilling

Holdings

Ltd.,

9.63%

04/15/29

.................

465

440,588

Shelf

Drilling

North

Sea

Holdings

Ltd.,

10.25%

10/31/25

...........

268

270,680

711,268

United

Kingdom

—

8.0%

Bond

Co.

Ltd.,

6.27%

07/31/25

(c)

GBP

278

347,393

Ardonagh

Finco

Ltd.,

6.88%

02/15/31

(c)

EUR

1,970

2,028,801

Barclays

plc

(b)(m)

(5-Year

Treasury

Yield

Curve

Rate

Note

Constant

Maturity

5.67%),

8.00%

...........

USD

2,258

2,256,056

(USISSO05

5.78%),

9.63%

...

825

862,231

Bellis

Acquisition

Co.

plc

(c)

3.25%,

02/16/26

............

GBP

1,876

2,303,340

4.50%,

02/16/26

............

454

564,459

British

Airways

Pass-Through

Trust,

Series

2013-1,

Class

8.63%

12/15/32

(f)

.................

USD

19,948

20,771,964

Hutchison

Group

Telecom

Finance

SA,

2.63%

10/17/34

(c)

........

GBP

1,296

1,150,699

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Par

(000)

Par

(000)

Value

United

Kingdom

(continued)

Connect

Finco

SARL,

6.75%

10/01/26

(a)

................

USD

2,000

1,936,976

CPUK

Finance

Ltd.

(c)

3.59%,

08/28/25

............

GBP

341

413,488

4.88%,

08/28/25

............

3,092

3,780,541

EnQuest

plc,

11.63%

11/01/27

(a)

...

USD

1,712

1,745,987

Flutter

Treasury

DAC,

5.00%

04/29/29

(c)

................

EUR

348

376,195

Galaxy

Bidco

Ltd.,

6.50%

07/31/26

(c)

GBP

2,257

2,773,836

Global

Switch

Finance

BV,

1.38%

10/07/30

(c)

................

EUR

1,785

1,728,599

INEOS

Quattro

Finance

plc,

8.50%

03/15/29

(c)

................

2,157

2,404,194

Intu

Jersey

Ltd.,

2.88%

11/01/22

(c)(e)(k)

(l)

.......................

GBP

4,134

787,777

Lloyds

Banking

Group

plc

(b)(m)

(5-Year

U.K.

Government

Bonds

Note

Generic

Bid

Yield

4.61%),

5.13%

.................

587

722,483

(5-Year

EURIBOR

ICE

Swap

Rate

5.29%),

4.95%

(c)

.........

EUR

2,645

2,782,774

Metrocentre

Finance

plc,

8.75%

(8.75%

Cash

8.75%

PIK),

12/05/24

(n)

................

GBP

616

385,547

Motion

Finco

SARL,

7.38%

06/15/30

(c)

EUR

1,890

2,095,167

Nationwide

Building

Society,

(5-Year

U.K.

Government

Bonds

Note

Generic

Bid

Yield

5.39%),

5.88%

(b)

(c)(m)

.....................

GBP

1,132

1,400,346

NatWest

Group

plc,

(5-Year

Treasury

Yield

Curve

Rate

Note

Constant

Maturity

5.63%),

6.00%

(b)

(m)

......................

USD

1,433

1,392,750

Pinewood

Finco

plc,

6.00%

03/27/30

(c)

GBP

2,004

2,433,222

Premier

Foods

Finance

plc,

3.50%

10/15/26

(c)

................

951

1,131,967

Rolls-Royce

plc,

0.88%

05/09/24

(c)

EUR

1,600

1,706,154

Santander

Group

Holdings

plc,

(BPSWS5

6.07%),

6.75%

(b)(c)(m)

GBP

1,494

1,866,828

Standard

Chartered

plc

(b)(m)

(3-mo.

LIBOR

USD

0.00%

Floor

1.51%),

7.10%

(a)

.........

USD

2,100

1,993,960

(3-mo.

LIBOR

USD

0.00%

Floor

1.51%),

7.10%

(c)

.........

300

284,851

Stonegate

Pub

Co.

Financing

plc

(c)

8.00%,

07/13/25

............

GBP

1,287

1,540,306

(3-mo.

EURIBOR

5.75%

Floor

5.75%),

9.65%,

07/31/25

(b)

...

EUR

1,000

1,024,512

Thames

Water

Kemble

Finance

plc,

4.63%

05/19/26

(c)

...........

GBP

432

60,618

Thames

Water

Utilities

Finance

plc

(c)

4.00%,

06/19/25

............

1,710

1,926,869

0.88%,

01/31/28

............

EUR

662

559,453

69,540,343

United

States

—

32.7%

AAR

Escrow

Issuer

LLC,

6.75%

03/15/29

(a)

................

USD

1,739

1,748,391

Affinity

Interactive,

6.88%

12/15/27

(a)

125

111,882

Alexander

Funding

Trust

II,

7.47%

07/31/28

(a)

................

10,012

10,446,083

Allegiant

Travel

Co.,

7.25%

08/15/27

(a)

86,988

Allied

Universal

Holdco

LLC

9.75%,

07/15/27

(a)

...........

59,773

4.88%,

06/01/28

(c)

...........

GBP

1,852

2,060,580

Security

Par

(000)

Par

(000)

Value

United

States

(continued)

AMC

Networks,

Inc.

10.25%,

01/15/29

(a)

..........

USD

2,750

2,744,995

4.25%,

02/15/29

............

105

71,077

American

Airlines

Pass-Through

Trust,

Series

2017-2,

Class

4.00%

12/15/25

(f)

.................

3,339

3,339,375

Amkor

Technology,

Inc.,

6.63%

09/15/27

(a)

................

4,000

3,993,876

Ardagh

Packaging

Finance

plc

5.25%,

04/30/25

(a)

...........

400

396,078

2.13%,

08/15/26

(c)

...........

EUR

1,783

1,502,084

4.13%,

08/15/26

(a)

...........

USD

200

166,671

4.75%,

07/15/27

(c)

...........

GBP

393

238,171

Ashton

Woods

USA

LLC

(a)

4.63%,

08/01/29

............

USD

34,368

4.63%,

04/01/30

............

154

137,616

Banff

Merger

Sub,

Inc.,

8.38%

09/01/26

(c)

................

EUR

2,100

2,206,674

Bausch

Lomb

Corp.,

8.38%

10/01/28

(a)

................

USD

4,500

4,647,375

Big

River

Steel

LLC,

6.63%

01/31/29

(a)

121

120,550

Blue

Racer

Midstream

LLC,

7.63%

12/15/25

(a)

................

57,250

Boeing

Co.

(The)

(a)

6.39%,

05/01/31

............

1,100

1,104,941

6.53%,

05/01/34

............

1,725

1,737,421

6.86%,

05/01/54

............

1,930

1,935,230

7.01%,

05/01/64

............

775

775,704

Buckeye

Partners

4.35%,

10/15/24

............

123

121,571

4.13%,

03/01/25

(a)

...........

54,790

Calumet

Specialty

Products

Partners

LP,

9.75%

07/15/28

(a)

.........

256

245,457

Carnival

Corp.,

7.00%

08/15/29

(a)

...

470

481,014

Champions

Financing,

Inc.,

8.75%

02/15/29

(a)

................

21,460

Churchill

Downs,

Inc.,

5.75%

04/01/30

(a)

................

53,287

Civitas

Resources,

Inc.

(a)

5.00%,

10/15/26

............

156

150,893

8.38%,

07/01/28

............

4,041

4,215,507

Cloud

Software

Group,

Inc.

(a)

6.50%,

03/31/29

............

5,000

4,742,267

9.00%,

09/30/29

............

1,710

1,645,456

Clydesdale

Acquisition

Holdings,

Inc.,

8.75%

04/15/30

(a)

...........

86,981

CNX

Resources

Corp.,

7.25%

03/01/32

(a)

................

65,179

CommScope

Technologies

LLC,

6.00%

06/15/25

(a)

................

1,081

853,990

CommScope,

Inc.,

8.25%

03/01/27

(a)

1,117

430,630

Concentrix

Corp.,

6.60%

08/02/28

2,000

1,994,039

Covanta

Holding

Corp.,

4.88%

12/01/29

(a)

................

44,707

Crescent

Energy

Finance

LLC,

7.63%

04/01/32

(a)

................

74,276

CSC

Holdings

LLC

(a)

5.50%,

04/15/27

............

200

163,962

11.25%,

05/15/28

...........

200

176,907

11.75%,

01/31/29

...........

1,702

1,512,099

Dana,

Inc.,

4.25%

09/01/30

......

25,125

DISH

DBS

Corp.,

5.88%

11/15/24

498

469,106

DISH

Network

Corp.,

0.00%

12/15/25

(j)

(k)

......................

185

134,587

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Par

(000)

Par

(000)

Value

United

States

(continued)

Dresdner

Funding

Trust

8.15%

06/30/31

(c)

................

USD

2,023

2,177,781

Edison

International,

(5-Year

Treasury

Yield

Curve

Rate

Note

Constant

Maturity

3.66%),

7.88%

06/15/54

(b)

................

3,650

3,709,188

Endo

Finance

Holdings,

Inc.,

8.50%

04/15/31

(a)

................

59,948

EQM

Midstream

Partners

LP,

7.50%

06/01/27

(a)

................

7,250

7,386,481

EquipmentShare.com,

Inc.,

9.00%

05/15/28

(a)

................

1,589

1,631,235

Fiesta

Purchaser,

Inc.,

7.88%

03/01/31

(a)

................

28,531

First

Horizon

Bank,

5.75%

05/01/30

300

276,884

Forestar

Group,

Inc.,

5.00%

03/01/28

(a)

557

527,578

FREED

Corp.,

12.00%

11/30/28

(f)

2,432

2,359,040

Freewire

Technologies,

Inc.,

6.00%

02/20/28

(f)

.................

758

548,590

Frontier

Communications

Holdings

LLC

(a)

8.75%,

05/15/30

............

11,344

11,549,667

8.63%,

03/15/31

............

5,000

5,049,862

Frontier

Florida

LLC,

Series

6.86%

02/01/28

.................

8,500

8,057,683

Full

House

Resorts,

Inc.,

8.25%

02/15/28

(a)

................

45,813

GoTo

Group,

Inc.

5.50%,

05/01/28

(a)

...........

8,284

6,310,059

GXO

Logistics,

Inc.,

2.65%

07/15/31

207

164,191

Helios

Software

Holdings,

Inc.,

7.88%

05/01/29

(c)

................

EUR

1,391

1,477,795

Howard

Hughes

Corp.

(The),

5.38%

08/01/28

(a)

................

USD

323

303,953

Illuminate

Buyer

LLC,

9.00%

07/01/28

(a)

................

65,596

Iron

Mountain

plc,

3.88%

11/15/25

(c)

.................

GBP

1,443

1,748,969

JPMorgan

Chase

Co.,

Series

KK,

(5-

Year

Treasury

Yield

Curve

Rate

Note

Constant

Maturity

2.85%),

3.65%

(b)(m)

.................

USD

32,746

Kronos

International,

Inc.

(c)

3.75%,

09/15/25

............

EUR

319

333,628

9.50%,

03/15/29

............

1,467

1,667,214

Landsea

Homes

Corp.,

11.00%

07/17/28

(f)

.................

USD

1,819

1,914,497

Lessen,

Inc.,

(3-mo.

CME

Term

SOFR

8.50%),

13.40%

01/05/28

(a)(b)(f)

1,261

1,154,219

Level

Financing,

Inc.,

4.63%

09/15/27

(a)

................

247

142,200

LGI

Homes,

Inc.,

8.75%

12/15/28

(a)

278

289,180

Liberty

Mutual

Group,

Inc.,

(5-Year

EUR

Swap

Annual

3.70%),

3.63%

05/23/59

(b)(c)

...............

EUR

1,250

1,329,483

Lightning

eMotors,

Inc.,

7.50%

05/15/24

(a)(e)(k)(l)

.............

USD

200

6,000

Lions

Gate

Capital

Holdings

LLC,

5.50%

04/15/29

(a)

...........

17,535

13,362,352

Matador

Resources

Co.,

6.50%

04/15/32

(a)

................

25,768

Mauser

Packaging

Solutions

Holding

Co.,

7.88%

04/15/27

(a)

........

380

387,125

Security

Par

(000)

Par

(000)

Value

United

States

(continued)

Midwest

Gaming

Borrower

LLC,

4.88%

05/01/29

(a)

................

USD

122

111,288

Nationstar

Mortgage

Holdings,

Inc.

(a)

6.00%,

01/15/27

............

39,195

5.50%,

08/15/28

............

193

181,492

5.13%,

12/15/30

............

190

170,686

5.75%,

11/15/31

............

80,891

7.13%,

02/01/32

............

88,713

NCR

Atleos

Corp.,

9.50%

04/01/29

(a)

6,750

7,175,206

Neogen

Food

Safety

Corp.,

8.63%

07/20/30

(a)

................

5,334

5,624,084

Nexstar

Media,

Inc.,

5.63%

07/15/27

(a)

5,642

Olympus

Water

Holding

Corp.,

9.75%

11/15/28

(a)

...........

504

534,804

Palomino

Funding

Trust

7.23%

05/17/28

(a)

................

10,850

11,194,734

Paramount

Global

7.88%,

07/30/30

............

2,500

2,580,653

(5-Year

Treasury

Yield

Curve

Rate

Note

Constant

Maturity

4.00%),

6.38%,

03/30/62

(b)

...

5,001

4,625,206

Park

Intermediate

Holdings

LLC,

4.88%

05/15/29

(a)

...........

168

153,726

PennyMac

Financial

Services,

Inc.,

7.88%

12/15/29

(a)

...........

43,888

Permian

Resources

Operating

LLC

(a)

7.75%,

02/15/26

............

28,250

8.00%,

04/15/27

............

208

213,553

5.88%,

07/01/29

............

59,283

7.00%,

01/15/32

............

70,340

Pilgrim's

Pride

Corp.,

6.25%

07/01/33

209

207,822

Pitney

Bowes,

Inc.,

6.88%

03/15/27

(a)

8,800

7,931,273

Playtika

Holding

Corp.,

4.25%

03/15/29

(a)

................

27,538

Rand

Parent

LLC,

8.50%

02/15/30

(a)

8,500

8,405,795

RingCentral,

Inc.,

8.50%

08/15/30

(a)

7,500

7,631,343

Sabre

GLBL,

Inc.

(a)

8.63%,

06/01/27

............

4,739

4,193,426

11.25%,

12/15/27

...........

3,833

3,582,318

Sally

Holdings

LLC,

6.75%

03/01/32

118

114,066

SCIL

LLC,

9.50%

07/15/28

(c)

....

EUR

1,528

1,765,050

Seagate

HDD

Cayman

8.25%,

12/15/29

(a)

...........

USD

7,000

7,440,209

8.50%,

07/15/31

(a)

...........

1,269

1,354,917

9.63%,

12/01/32

............

7,150

8,020,540

Service

Properties

Trust

4.50%,

03/15/25

............

149

145,503

7.50%,

09/15/25

............

5,214

5,252,480

8.63%,

11/15/31

(a)

...........

221

232,103

Sitio

Royalties

Operating

Partnership

LP,

7.88%

11/01/28

(a)

.........

101,806

Sonder

Holdings

Inc.,

(3-mo.

CME

Term

SOFR

1.00%

Floor

9.00%),

13.99%

12/10/26

(b)(f)

....

1,313

1,161,806

Spirit

AeroSystems,

Inc.

(a)

9.38%,

11/30/29

............

5,000

5,407,607

9.75%,

11/15/30

............

9,112

10,080,117

Sprint

Spectrum

Co.

LLC,

4.74%

03/20/25

(a)

................

—

(o)

SRS

Distribution,

Inc.,

6.00%

12/01/29

(a)

................

2,000

2,027,824

Stem,

Inc.,

0.50%

12/01/28

(a)(k)

....

21,458

STL

Holding

Co.

LLC,

8.75%

02/15/29

(a)

................

84,260

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Par

(000)

Par

(000)

Value

United

States

(continued)

SUN

Country

Marine,

Inc.,

Series

2022-

1B,

5.75%

03/15/29

(f)

.........

USD

10,235

10,286,008

Super

Micro

Computer,

Inc.,

0.00%

03/01/29

(a)(j)(k)

...............

750

765,375

Surgery

Center

Holdings,

Inc.,

7.25%

04/15/32

(a)

................

45,937

Talen

Energy

Supply

LLC,

8.63%

06/01/30

(a)

................

3,000

3,174,102

Talos

Production,

Inc.,

9.38%

02/01/31

(a)

................

43,694

Tenneco,

Inc.,

8.00%

11/17/28

(a)

...

203

189,676

Texas

Capital

Bancshares,

Inc.,

(5-Year

Treasury

Yield

Curve

Rate

Note

Constant

Maturity

3.15%),

4.00%

05/06/31

(b)

...........

77,595

Transocean

Titan

Financing

Ltd.,

8.38%

02/01/28

(a)

...........

79,045

Transocean,

Inc.,

8.25%

05/15/29

(a)

124

123,286

Uniti

Group

LP,

10.50%

02/15/28

(a)

8,632

8,955,094

Venture

Global

LNG,

Inc.

(a)

8.13%,

06/01/28

............

58,281

9.50%,

02/01/29

............

6,764

7,270,366

Vistra

Operations

Co.

LLC,

7.75%

10/15/31

(a)

................

4,002

4,104,419

Vital

Energy,

Inc.,

7.88%

04/15/32

(a)

52,765

Warnermedia

Holdings,

Inc.,

6.41%

03/15/26

.................

7,025

7,026,976

Weekley

Homes

LLC,

4.88%

09/15/28

(a)

................

147

134,442

William

Carter

Co.

(The),

5.63%

03/15/27

(a)

................

10,707

Xerox

Holdings

Corp.,

8.88%

11/30/29

(a)

................

1,000

952,681

XHR

(a)

6.38%,

08/15/25

............

104

103,885

4.88%,

06/01/29

............

22,819

Zayo

Group

Holdings,

Inc.,

4.00%

03/01/27

(a)

................

113

89,944

283,347,694

Zambia

—

0.4%

First

Quantum

Minerals

Ltd.,

9.38%

03/01/29

(a)

................

3,544

3,686,894

Total

Corporate

Bonds

—

61.8%

(Cost:

$593,635,908)

.............................

536,055,309

Fixed

Rate

Loan

Interests

Jersey,

Channel

Islands

—

0.0%

New

Look

Corp.

Ltd.,

Term

Loan,

0.00%

11/09/29

(f)

...........

GBP

213

2,667

United

States

—

0.2%

AVSC

Holding

Corp.,

1st

Lien

Term

Loan

B3,

15.00%

10/15/26

.....

USD

373

384,877

Cotiviti

Holdings,

Inc.,

Term

Loan,

05/01/31

(p)

................

2,000

1,981,660

2,366,537

Total

Fixed

Rate

Loan

Interests

—

0.2%

(Cost:

$2,413,776)

..............................

2,369,204

Security

Par

(000)

(

000)

Value

Floating

Rate

Loan

Interests

Colombia

—

0.0%

Ecopetrol

SA,

Term

Loan,

(3-mo.

CME

Term

SOFR

0.00%

Floor

0.00%),

10.00%

09/06/30

(b)(f)

....

USD

150

154,800

Finland

—

0.1%

Mehilainen

Yhtiot

Oy,

Term

Loan,

(3-mo.

EURIBOR

0.00%

Floor

4.00%),

7.88%

08/09/28

(b)

.....

EUR

867

927,353

France

—

0.5%

(b)

Altice

France

SA,

Term

Loan

B14,

9.41%

08/15/28

............

1,995

1,589,359

Tarkett

Participation,

Facility

Term

Loan

(6-mo.

EURIBOR

0.00%

Floor

3.70%),

7.58%

04/21/28

.....

2,831

3,007,396

4,596,755

Germany

—

0.9%

(b)

Tele

Columbus

AG,

Facility

Term

Loan

A3,

(6-mo.

EURIBOR

3.50%),

7.39%

10/15/24

............

5,822

3,653,437

Elevator

Midco

GmbH,

Facility

Term

Loan

B2,

(3-mo.

EURIBOR

0.00%

Floor

4.00%),

7.93%

04/30/30

2,357

2,518,561

Wittur

Holding

GmbH,

Facility

Term

Loan

(3-mo.

EURIBOR

0.00%

Floor

5.50%),

9.41%

09/04/28

1,391

1,301,654

7,473,652

Jersey,

Channel

Islands

—

0.0%

New

Look

Corp.

Ltd.,

Term

Loan,

(6-mo.

SONIA

0.00%

Floor

0.00%),

16.50%

11/10/27

(b)(f)

....

GBP

361

266,384

Luxembourg

—

0.7%

(b)

Altice

Financing

SA,

Term

Loan

(3-mo.

EURIBOR

0.00%

Floor

5.00%),

8.91%, 10/28/27

....

EUR

1,197

1,136,202

(3-mo.

EURIBOR

0.00%

Floor

5.00%),

8.91%, 10/31/27

....

1,937

1,839,023

Concrete

Investment

SCA,

Facility

Term

Loan

A2,

(3-mo.

EURIBOR

0.00%

Floor

0.00%),

5.95%

10/30/24

(f)

...........

EURO

Parfums

Fze,

Term

Loan

(3-mo.

CME

Term

SOFR

0.00%

Floor

0.00%),

12.21%

01/01/30

(f)

USD

218

215,014

Index

Holdco

SARL,

Facility

Term

Loan

(6-mo.

EURIBOR

0.00%

Floor

0.10%),

0.10%

12/29/28

.....

EUR

1,714

256,397

Rainbow

Holdco

Ltd.,

Facility

Term

Loan

B2,

(6-mo.

EURIBOR

0.00%

Floor

3.25%),

7.16%

02/24/29

2,400

2,540,431

5,987,076

Netherlands

—

0.7%

(b)

Boels

Topholding

BV,

Facility

Term

Loan

B2,

(1-mo.

EURIBOR

0.00%

Floor

3.25%),

7.13%

7.14%

02/06/27

............

1,293

1,379,420

Median

BV,

Facility

Term

Loan

B1,

(3-mo.

EURIBOR

0.00%

Floor

4.93%),

8.83%

10/14/27

......

1,900

1,975,467

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Netherlands

(continued)

Ziggo

BV,

Facility

Term

Loan

01/31/29

(p)

................

EUR

2,139

2,233,662

5,588,549

Spain

—

0.7%

(b)

Lorca

Holdco

Ltd.,

Term

Loan

B2,

(6-mo.

EURIBOR

0.00%

Floor

4.20%),

8.10%

09/17/27

......

4,000

4,268,159

PAX

Holdco

SLU,

Term

Loan,

12/31/29

(p)

................

1,706

1,790,678

6,058,837

United

Kingdom

—

1.4%

(b)

CD&R

Firefly

Bidco

Ltd.,

Facility

Term

Loan

B6,

03/21/29

(p)

..........

GBP

2,250

2,808,676

Ineos

Quattro

Holdings

Ltd.,

Term

Loan

(1-mo.

EURIBOR

0.00%

Floor

4.50%),

8.35%

04/02/29

EUR

2,810

2,991,926

Ineos

U.S.

Finance

LLC,

Term

Loan,

(1-mo.

EURIBOR

0.50%

Floor

4.00%),

7.85%

11/08/27

.......

3,931

4,200,617

Lorca

Finco

plc,

Term

Loan,

04/17/31

(p)

1,946

2,076,366

Seashell

Bidco

SL,

Facility

Term

Loan

(1-mo.

EURIBOR

0.00%

Floor

0.00%),

10.36%

10/10/29

(f)

...

77,893

12,155,478

United

States

—

10.8%

Aimbridge

Acquisition

Co.,

Inc.,

1st

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.00%

Floor

4.75%),

10.18%

02/02/26

(b)

..........

USD

174

169,365

Altar

BidCo,

Inc.,

1st

Lien

Term

Loan,

(12-mo.

CME

Term

SOFR

0.50%

Floor

3.10%),

7.95%

02/01/29

(b)

2,992

2,988,107

Altar

BidCo,

Inc.,

2nd

Lien

Term

Loan,

(12-mo.

CME

Term

SOFR

0.50%

Floor

5.60%),

10.40%

02/01/30

(b)

10,286

10,114,327

AMC

Entertainment

Holdings,

Inc.,

Term

Loan

B1,

(1-mo.

CME

Term

SOFR

0.00%

Floor

3.00%),

8.43%

04/22/26

(b)

...........

337

291,515

American

Auto

Auction

Group

LLC,

1st

Lien

Term

Loan

(3-mo.

CME

Term

SOFR

0.75%

Floor

5.00%),

10.46%

12/30/27

(b)

..........

118

117,314

American

Rock

Salt

Co.

LLC,

1st

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.75%

Floor

4.00%),

9.43%

06/09/28

(b)

...........

80,935

Amneal

Pharmaceuticals

LLC,

Term

Loan,

05/04/28

(b)(p)

...........

2,000

2,000,000

Applied

Systems,

Inc.,

1st

Lien

Term

Loan,

(3-mo.

CME

Term

SOFR

0.00%

Floor

3.50%),

8.81%

02/24/31

(b)

...........

851

856,737

Ascensus

Group

Holdings,

Inc.,

1st

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.50%

Floor

3.50%),

8.93%

08/02/28

(b)

...........

2,376

AssuredPartners,

Inc.,

Term

Loan,

(1-mo.

CME

Term

SOFR

0.50%

Floor

3.50%),

8.82%

02/14/31

(b)

264

265,114

Security

Par

(000)

Par

(000)

Value

United

States

(continued)

Avaya,

Inc.,

Term

Loan,

(1-mo.

CME

Term

SOFR

1.00%

Floor

1.50%),

6.82%

08/01/28

(b)

.....

USD

48,753

AVSC

Holding

Corp.,

1st

Lien

Term

Loan

B1,

(1-mo.

CME

Term

SOFR

1.00%

Floor

3.25%),

8.67%

03/03/25

(b)

...........

958

946,886

Boxer

Parent

Co.,

Inc.,

Term

Loan,

8.35%

12/29/28

(b)

...........

EUR

2,394

2,566,450

BrewCo

Borrower

LLC,

Term

Loan

(3-mo.

CME

Term

SOFR

0.75%

Floor

6.25%),

11.58%, 04/14/28

(b)

........

161

133,387

Champions

Holdco,

Inc.,

Term

Loan,

(3-mo.

CME

Term

SOFR

0.00%

Floor

4.75%),

10.07%

02/23/29

(b)

USD

765

767,234

Chemours

Co.

(The),

Term

Loan

B3,

(1-mo.

EURIBOR

0.00%

Floor

4.00%),

7.85%

08/18/28

(b)

.....

EUR

4,000

4,258,128

Cloud

Software

Group,

Inc.,

1st

Lien

Term

Loan,

03/21/31

(b)(p)

.......

USD

1,782

1,777,990

Cloud

Software

Group,

Inc.,

1st

Lien

Term

Loan

(3-mo.

CME

Term

SOFR

0.50%

Floor

4.50%),

9.91%

03/30/29

(b)

...........

715

714,465

Conair

Holdings

LLC,

1st

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.50%

Floor

3.75%),

9.18%

05/17/28

(b)

...........

87,030

ConnectWise

LLC,

Term

Loan,

(3-mo.

CME

Term

SOFR

0.50%

Floor

3.50%),

9.06%

09/29/28

(b)

.....

79,211

CoreLogic,

Inc.,

2nd

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.50%

Floor

6.50%),

11.93%

06/04/29

(b)

750

672,660

CoreWeave

Compute

Acquisition

Co.

LLC,

Delayed

Draw

Term

Loan,

(3-mo.

CME

Term

SOFR

0.00%

Floor

8.75%),

1.00%

14.08%

07/31/28

(b)(f)

.........

1,446

1,444,265

Cotiviti,

Inc.,

Term

Loan,

05/01/31

(b)(p)

1,498

1,499,243

DirecTV

Financing

LLC,

Term

Loan,

(1-mo.

CME

Term

SOFR

0.75%

Floor

5.00%),

10.43%

08/02/27

(b)

141

141,959

DRI

Holding,

Inc.,

1st

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.50%

Floor

5.25%),

10.67%

12/21/28

(b)

237

222,338

Dynasty

Acquisition

Co.,

Inc.,

Term

Loan

B1,

(1-mo.

CME

Term

SOFR

0.00%

Floor

3.50%),

8.82%

08/24/28

(b)

...........

186

187,046

Dynasty

Acquisition

Co.,

Inc.,

Term

Loan

B2,

(1-mo.

CME

Term

SOFR

0.00%

Floor

3.50%),

8.82%

08/24/28

(b)

...........

72,120

ECL

Entertainment

LLC,

Facility

Term

Loan

(1-mo.

CME

Term

SOFR

0.75%

Floor

4.75%),

10.07%

09/03/30

(b)

..........

432

432,858

ECL

Entertainment

LLC,

Term

Loan

08/31/30

(b)(p)

...............

60,143

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Par

(000)

Par

(000)

Value

United

States

(continued)

EIS

Group,

Ltd.,

Term

Loan

(b)(f)

(1-mo.

CME

Term

SOFR

0.75%

Floor

7.00%),

12.32%, 07/10/28

.........

USD

56,946

(1-mo.

CME

Term

SOFR

0.75%

Floor

7.00%),

12.32%, 07/10/28

.........

584

569,458

Ellucian

Holdings,

Inc.,

2nd

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

1.00%

Floor

8.00%),

13.42%

10/09/28

(b)

..........

1,417

1,418,437

Emerald

Technologies

AcquisitionCo.,

Inc.,

Term

Loan

(3-mo.

CME

Term

SOFR

1.00%

Floor

6.25%),

11.74%

12/29/27

(b)(f)

287

258,210

First

Brands

Group

LLC,

1st

Lien

Term

Loan,

(3-mo.

EURIBOR

1.00%

Floor

5.00%),

8.87%

03/30/27

(b)(f)

EUR

2,604

2,772,314

Flexsys

Holdings,

Inc.,

1st

Lien

Term

Loan,

(3-mo.

CME

Term

SOFR

0.75%

Floor

5.25%),

10.82%

11/01/28

(b)

..........

USD

172

167,427

Genesys

Cloud

Services

Holdings

LLC,

Term

Loan

(b)

12/01/27

(p)

................

1,995

2,001,608

(1-mo.

CME

Term

SOFR

0.75%

Floor

3.75%),

9.18%, 12/01/27

3,268

3,284,149

GoTo

Group,

Inc.,

Term

Loan

(b)

(1-mo.

CME

Term

SOFR

0.00%

Floor

4.75%),

10.17%, 04/30/28

.........

3,510

3,330,097

(1-mo.

CME

Term

SOFR

0.00%

Floor

4.75%),

10.17%, 04/30/28

.........

1,800

1,365,945

Green

Plains

Operating

Co.

LLC,

Term

Loan,

(3-mo.

CME

Term

SOFR

0.00%

Floor

0.00%),

13.65%

07/20/26

(b)(f)

.........

426

417,858

Helios

Service

Partners

LLC,

1st

Lien

Term

Loan,

(3-mo.

CME

Term

SOFR

1.00%

Floor

6.50%),

12.06%

03/19/27

(b)(f)

.........

20,407

Helios

Service

Partners

LLC,

2nd

Lien

Term

Loan,

(3-mo.

CME

Term

SOFR

1.00%

Floor

6.25%),

11.81%

03/19/27

(b)(f)

.........

107

106,724

Helios

Service

Partners

LLC,

Delayed

Draw

1st

Lien

Term

Loan,

(3-mo.

CME

Term

SOFR

1.00%

Floor

6.50%),

12.06%

03/19/27

(b)(f)

....

91,496

Helios

Service

Partners

LLC,

Delayed

Draw

2nd

Lien

Term

Loan,

(3-mo.

CME

Term

SOFR

1.00%

Floor

6.25%),

1.00%

11.84%

03/19/27

(b)

(f)

.......................

165

163,655

Hydrofarm

Holdings

Group,

Inc.,

Term

Loan,

(1-mo.

CME

Term

SOFR

1.00%

Floor

5.50%),

10.93%

10/25/28

(b)(f)

.........

166

133,505

J&J

Ventures

Gaming

LLC,

Term

Loan,

(1-mo.

CME

Term

SOFR

0.75%

Floor

4.00%),

9.43%

04/26/28

(b)

320

318,374

Jack

Ohio

Finance

LLC,

Term

Loan,

(1-mo.

CME

Term

SOFR

0.75%

Floor

4.75%),

10.18%

10/04/28

(b)

129

128,834

Security

Par

(000)

Par

(000)

Value

United

States

(continued)

Kronos

Acquisition

Holdings,

Inc.,

Term

Loan,

(3-mo.

CME

Term

SOFR

1.00%

Floor

6.00%),

11.49%

12/22/26

(b)

..........

USD

126

126,360

Level

Financing,

Inc.,

Term

Loan

B1,

(1-mo.

CME

Term

SOFR

2.00%

Floor

6.56%),

11.88%

04/15/29

(b)

53,283

Maverick

Gaming

LLC,

Term

Loan

(3-mo.

CME

Term

SOFR

1.00%

Floor

7.50%),

12.80%, 06/03/28

(b)

........

280

247,488

Medical

Solutions

Holdings,

Inc.,

2nd

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.50%

Floor

7.00%),

12.42%

11/01/29

(b)

..........

461

367,648

Sub

LLC,

2nd

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.00%

Floor

6.25%),

11.57%

02/23/29

(b)

637

628,400

Modena

Buyer

LLC,

Term

Loan,

04/18/31

(b)(p)

...............

1,000

978,130

Montage

Hotels

Resorts

LLC,

Term

Loan,

01/01/38

(b)(f)(p)

..........

322

321,923

Naked

Juice

LLC,

1st

Lien

Term

Loan,

(3-mo.

CME

Term

SOFR

0.50%

Floor

3.25%),

8.66%

01/24/29

(b)

401

387,021

Naked

Juice

LLC,

2nd

Lien

Term

Loan,

(3-mo.

CME

Term

SOFR

0.50%

Floor

6.00%),

11.40%

01/24/30

(b)

969

809,040

Nieslsen

Consumer,

Inc.,

Term

Loan,

(1-mo.

EURIBOR

0.00%

Floor

6.50%),

10.35%

03/06/28

(b)

.....

EUR

1,682

1,792,510

Orion

Group

HoldCo

LLC,

Delayed

Draw

Term

Loan

(3-mo.

CME

Term

SOFR

1.00%

Floor

0.00%),

11.56%, 03/19/27

(b)(f)

.......

USD

239

238,688

Orion

Group

HoldCo

LLC,

Term

Loan

(3-mo.

CME

Term

SOFR

1.00%

Floor

0.00%),

11.56%, 03/19/27

(b)(f)

.......

20,908

Orion

Incremental,

Delayed

Draw

Term

Loan,

12/31/30

(b)(f)(p)

..........

108

106,775

Park

River

Holdings,

Inc.,

1st

Lien

Term

Loan,

(3-mo.

CME

Term

SOFR

0.75%

Floor

3.25%),

8.81%

12/28/27

(b)

...........

89,948

Playtika

Holding

Corp.,

Term

Loan

B1,

(1-mo.

CME

Term

SOFR

0.00%

Floor

2.75%),

8.18%

03/13/28

(b)

479

479,089

Potters

Industries

LLC,

Term

Loan,

12/14/27

(b)(p)

...............

88,495

Project

Montage,

Term

Loan,

01/01/28

(b)

(f)(p)

.....................

143

143,077

Proofpoint,

Inc.,

1st

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.50%

Floor

3.25%),

8.68%

08/31/28

(b)

3,192

3,204,796

Quartz

AcquireCo

LLC,

Term

Loan,

(3-mo.

CME

Term

SOFR

0.00%

Floor

3.50%),

8.81%

06/28/30

(b)

5,882

5,908,235

RealPage,

Inc.,

2nd

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.75%

Floor

6.50%),

11.93%

04/23/29

(b)

1,293

1,268,940

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Par

(000)

Par

(000)

Value

United

States

(continued)

Redstone

HoldCo

LP,

1st

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.75%

Floor

4.75%),

10.18%

04/27/28

(b)

..........

USD

4,248

3,304,865

Redstone

HoldCo

LP,

2nd

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.75%

Floor

7.75%),

13.18%

04/27/29

(b)

..........

3,548

1,933,660

SCIH

Salt

Holdings,

Inc.,

1st

Lien

Term

Loan

B1,

(3-mo.

CME

Term

SOFR

0.75%

Floor

3.50%),

8.83%

03/16/27

(b)

...........

345

345,972

StubHub

Holdco

Sub

LLC,

Term

Loan

(1-mo.

CME

Term

SOFR

0.00%

Floor

4.75%),

10.07%

03/15/30

(b)

..........

1,644

1,642,448

Triton

Water

Holdings,

Inc.,

1st

Lien

Term

Loan,

(3-mo.

CME

Term

SOFR

0.50%

Floor

3.25%),

8.81%

03/31/28

(b)

...........

170

169,395

Truist

Insurance

Holdings

LLC,

Term

Loan

05/06/31

(b)(p)

..........

417

417,784

Vaco

Holdings

LLC,

Term

Loan,

(6-mo.

CME

Term

SOFR

0.75%

Floor

5.00%),

10.43%

01/21/29

(b)

.....

286

284,139

Verscend

Holding

Corp.,

Term

Loan

B1,

(1-mo.

CME

Term

SOFR

0.00%

Floor

4.00%),

11.50%

08/27/25

(b)

5,615

5,616,533

Buyer

LLC,

Term

Loan,

(1-mo.

CME

Term

SOFR

0.00%

Floor

3.25%),

8.57%

04/12/31

(b)

.....

908

909,705

Waystar

Technologies,

Inc.,

1st

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.00%

Floor

4.00%),

9.32%

10/22/29

(b)

...........

7,000

7,034,866

Woof

Holdings,

Inc.,

1st

Lien

Term

Loan,

(3-mo.

CME

Term

SOFR

0.75%

Floor

3.75%),

9.32%

12/21/27

(b)

...........

147

114,359

Xerox

Corp.,

1st

Lien

Term

Loan,

(1-mo.

CME

Term

SOFR

0.50%

Floor

4.00%),

9.32%

11/17/29

(b)

5,283

5,276,521

Zayo

Group

Holdings,

Inc.,

Term

Loan,

(1-mo.

CME

Term

SOFR

0.00%

Floor

3.00%),

8.43%

03/09/27

(b)

79,297

93,993,698

Total

Floating

Rate

Loan

Interests

—

15.8%

(Cost:

$143,266,196)

.............................

137,202,582

Foreign

Agency

Obligations

France

—

0.4%

Electricite

France

(b)(c)(m)

(13-Year

GBP

Swap

Semi

4.23%),

6.00%

...........

GBP

1,000

1,218,311

(BPISDS15

3.32%),

5.88%

...

400

469,192

(5-Year

EUR

Swap

Annual

3.97%),

3.38%

...........

EUR

1,600

1,486,550

3,174,053

Ireland

—

0.4%

AIB

Group

plc,

(5-Year

EUR

Swap

Annual

5.70%),

5.25%

(b)(c)(m)

...

3,030

3,231,695

Security

Par

(000)

Par

(000)

Value

Italy

—

0.2%

Banca

Monte

dei

Paschi

Siena

SpA

(3-mo.

EURIBOR

3.21%),

6.75%

03/02/26

(b)(c)

...............

EUR

1,725

1,861,638

Total

Foreign

Agency

Obligations

—

1.0%

(Cost:

$8,157,949)

..............................

8,267,386

Investment

Companies

Invesco

Senior

Loan

ETF

........

300,000

6,315,000

SPDR

S&P

Regional

Banking

ETF

2,003

94,181

Total

Investment

Companies

—

0.7%

(Cost:

$6,426,848)

..............................

6,409,181

Par

(000)

(

000)

Non-Agency

Mortgage-Backed

Securities

Commercial

Mortgage-Backed

Securities

—

1.8%

United

States

—

1.8%

(a)(b)

CSMC

Trust,

Series

2022-LION,

Class

(1-mo.

CME

Term

SOFR

3.59%

Floor

3.44%),

8.76%,

02/15/25

(f)

.................

USD

4,000

3,866,657

Med

Trust

Series

2021-MDLN,

Class

(1-mo.

CME

Term

SOFR

4.00%

Floor

4.11%),

9.44%,

11/15/38

...

2,986

2,978,207

Series

2021-MDLN,

Class

(1-mo.

CME

Term

SOFR

5.25%

Floor

5.36%),

10.69%,

11/15/38

8,555

8,533,555

15,378,419

Total

Non-Agency

Mortgage-Backed

Securities

—

1.8%

(Cost:

$15,523,464)

..............................

15,378,419

Preferred

Securities

Capital

Trusts

—

0.2%

Spain

—

0.2%

Banco

Bilbao

Vizcaya

Argentaria

(5-Year

EUR

Swap

Annual

6.46%),

6.00%

(b)(c)(m)

..........

EUR

2,000

2,115,724

United

States

—

0.0%

Citigroup,

Inc.,

Series

(5-Year

Treasury

Yield

Curve

Rate

Note

Constant

Maturity

3.00%),

4.15%

(b)

(m)

......................

USD

32,130

Total

Capital

Trusts

—

0.2%

(Cost:

$2,061,023)

..............................

2,147,854

Preferred

Stocks

—

0.5%

United

States

—

0.5%

(f)

Cap

Hill

Brands

(Preference)

(e)

.....

506,652

106,397

Dream

Finders

Homes,

Inc.

(Preference),

9.00%

(m)

........

2,261

2,159,255

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Value

United

States

(continued)

HNG

Hospitality

offshore

LP,

(Acquired

02/16/24,

cost

$723,000)

(e)(i)

.....

723,000

Lessen

Holdings,

Inc.,

Series

(e)

...

16,373

95,946

New

York

Community

Bancorp,

Inc.,

Series

(Acquired

03/07/24,

cost

$114,000),

13.00%

(e)(i)

.........

145,589

Versa

Networks,

Inc.,

Series

(Acquired

10/14/22,

cost

$567,638),

12.00%

(

)

.................

194,516

787,790

Volato

Group,

Inc.,

Class

(Acquired

12/03/23,

cost

$22)

(e)(i)

........

4,491

10,104

4,028,081

Total

Preferred

Stocks

—

0.5%

(Cost:

$4,779,432)

..............................

4,028,081

Total

Preferred

Securities

—

0.7%

(Cost:

$6,840,455)

..............................

6,175,935

Warrants

Brazil

—

0.0%

Lavoro

Ltd.

(Issued/Exercisable

12/27/22,

for

Warrant,

Expires

12/27/27,

Strike

Price

USD

11.50)

(e)

..................

5,012

2,180

Germany

—

0.0%

Tonies

(Issued/Exercisable

04/30/21,

for

Warrant,

Expires

04/30/26,

Strike

Price

EUR

11.50)

(e)

..................

109,736

11,711

Luxembourg

—

0.0%

HomeToGo

(Issued/Exercisable

02/17/21,

for

Warrant,

Expires

12/31/25,

Strike

Price

EUR

11.50)

(e)

..................

71,516

United

States

—

0.0%

(e)

Aurora

Innovation,

Inc.

(Issued/

Exercisable

05/04/21,

for

Warrant,

Expires

03/11/26,

Strike

Price

USD

11.50)

............

1,667

368

Cano

Health,

Inc.

(Issued/Exercisable

07/06/20,

for

Warrant,

Expires

06/03/26,

Strike

Price

USD

11.50)

(f)

..................

7,450

Carnelian

Point

Holdings

(Issued/

Exercisable

07/14/22,

for

Warrant,

Expires

04/26/27,

Strike

Price

USD

10.00)

(f)

...........

580

—

Crown

PropTech

Acquisitions

(Issued/

Exercisable

02/05/21,

for

Warrant,

Expires

02/01/26,

Strike

Price

USD

11.50)

(f)

...........

16,190

669

Crown

PropTech

Acquisitions

(Issued/

Exercisable

01/25/21,

for

Warrant,

Expires

12/31/27,

Strike

Price

USD

11.50)

(f)

...........

9,692

—

CXApp,

Inc.,

Class

(Issued/

Exercisable

02/02/21,

for

Warrant,

Expires

12/15/25,

Strike

Price

USD

11.50)

............

8,012

2,207

Security

Value

United

States

(continued)

EVgo,

Inc.

(Issued/Exercisable

11/10/20,

for

Warrant,

Expires

09/15/25,

Strike

Price

USD

11.50)

...................

7,796

1,091

HawkEye

360,

Inc.

(Issued/Exercisable

07/07/23,

for

Warrant,

Expires

07/07/33,

Strike

Price

USD

0.01)

(f)

...................

10,681

52,123

HawkEye

360,

Inc.

(Issued/Exercisable

07/07/23,

for

Warrant,

Expires

07/07/33,

Strike

Price

USD

0.01)

(f)

...................

4,328

21,121

HawkEye

360,

Inc.

(Issued/Exercisable

07/07/23,

for

Warrant,

Expires

07/07/33,

Strike

Price

USD

11.17)

(f)

..................

1,695

4,305

Latch,

Inc.

(Issued/Exercisable

12/29/20,

for

Warrant,

Expires

06/04/26,

Strike

Price

USD

11.50)

...................

6,894

Lightning

eMotors,

Inc.

(Issued/

Exercisable

05/06/21,

for

Warrant,

Expires

12/15/25,

Strike

Price

USD

11.50)

............

17,391

New

York

Community

Bancorp,

Inc.,

(Acquired

03/07/24,

cost

$0)

(Issued/Exercisable

03/11/24,

for

Warrant,

Expires

03/11/31,

Strike

Price

USD

2.50)

(f)(i)

78,935

Offerpad

Solutions,

Inc.

(Issued/

Exercisable

10/13/20,

for

Warrant,

Expires

09/01/26,

Strike

Price

USD

11.50)

............

13,726

Palladyne

Corp.

(Issued/Exercisable

12/21/20,

for

Warrant,

Expires

09/24/26,

Strike

Price

USD

11.50)

...................

20,304

1,379

Palladyne

Corp.

(Issued/Exercisable

01/15/21,

for

Warrant,

Expires

06/15/27,

Strike

Price

USD

11.50)

...................

5,599

380

Pear

Therapeutics,

Inc.

(Issued/

Exercisable

03/23/21,

for

Warrant,

Expires

12/03/26,

Strike

Price

USD

11.50)

(f)

...........

4,828

—

Pivotal

Investment

Corp.

III,

Class

(Issued/Exercisable

01/19/21,

for

Warrant,

Expires

12/31/27,

Strike

Price

USD

11.50)

(f)

2,377

—

Sonder

Holdings,

Inc.

(Issued/

Exercisable

01/19/22,

for

Warrant,

Expires

11/19/26,

Strike

Price

USD

12.50)

(f)

...........

18,705

—

Versa

Networks,

Inc.,

Series

(Acquired

10/14/22,

cost

$0)

(Issued/Exercisable

10/14/22,

for

Warrant,

Expires

10/07/32,

Strike

Price

USD

0.01)

(f)(i)

23,975

83,673

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Value

United

States

(continued)

Volato

Group,

Inc.,

(Acquired

12/03/23,

cost

$11,228)

(Issued/Exercisable

12/04/23,

for

Warrant,

Expires

12/03/28,

Strike

Price

USD

11.50)

(f)(i)

..................

11,228

1,434

247,813

Total

Warrants

—

0.0%

(Cost:

$168,317)

................................

261,780

Total

Long-Term

Investments

—

90.8%

(Cost:

$867,417,496)

.............................

788,357,259

Par

(000)

(

000)

Short-Term

Securities

Borrowed

Bond

Agreements

—

3.6%

(q)

Barclays

Bank

plc,

4.25%, 06/13/24

(Purchased

04/24/24

repurchased

USD

486,652,

collateralized

Bondco

LLC,

9.50%,

due

10/15/31,

par

and

fair

value

USD

500,000

and

$480,160,

respectively)

........

USD

486

486,250

Barclays

Bank

plc,

5.15%, 06/13/24

(Purchased

04/24/24

repurchased

USD

1,112,524,

collateralized

CommScope,

Inc.,

6.00%,

due

03/01/26,

par

and

fair

value

USD

1,213,000

and

$1,084,119,

respectively)

......

1,111

1,111,411

Barclays

Bank

plc,

0.85%, Open

(Purchased

04/15/24

repurchased

USD

1,926,296,

collateralized

INEOS

Quattro

Finance

plc,

3.75%,

due

07/15/26,

par

and

fair

value

EUR

1,850,000

and

$1,908,228,

respectively)

(r)

..............

EUR

1,804

1,925,614

Barclays

Bank

plc,

2.15%, Open

(Purchased

03/26/24

repurchased

USD

831,658,

collateralized

Intrum

AB,

4.88%,

due

08/15/25,

par

and

fair

value

EUR

1,010,000

and

$883,855,

respectively)

(r)

..............

778

829,972

Barclays

Bank

plc,

2.50%, Open

(Purchased

04/05/24

repurchased

USD

1,407,425,

collateralized

Motion

Bondco

DAC,

4.50%,

due

11/15/27,

par

and

fair

value

EUR

1,350,000

and

$1,358,714,

respectively)

(r)

.....

1,317

1,405,278

Barclays

Bank

plc,

3.55%, Open

(Purchased

04/15/24

repurchased

USD

1,570,740,

collateralized

Akelius

Residential

Property

Financing

BV,

0.75%,

due

02/22/30,

par

and

fair

value

EUR

1,850,000

and

$1,550,848,

respectively)

(r)

..............

1,470

1,568,420

Security

Par

(000)

Par

(000)

Value

Borrowed

Bond

Agreements

(continued)

Barclays

Bank

plc,

5.00%, Open

(Purchased

02/08/24

repurchased

USD

3,095,609,

collateralized

AthenaHealth

Group,

Inc.,

6.50%,

due

02/15/30,

par

and

fair

value

USD

3,300,000

and

$2,970,815,

respectively)

(r)

USD

3,061

3,060,750

Barclays

Bank

plc,

5.15%, Open

(Purchased

02/08/24

repurchased

USD

128,829,

collateralized

Park

River

Holdings,

Inc.,

5.63%,

due

02/01/29,

par

and

fair

value

USD

156,000

and

$128,424,

respectively)

(r)

..............

127

127,335

Barclays

Bank

plc,

5.15%, Open

(Purchased

02/08/24

repurchased

USD

193,444,

collateralized

PHH

Mortgage

Corp.,

7.88%,

due

03/15/26,

par

and

fair

value

USD

201,000

and

$192,290,

respectively)

(r)

.......

191

191,201

Barclays

Capital,

Inc.,

3.75%, 06/13/24

(Purchased

04/24/24

repurchased

USD

232,459,

collateralized

Great

Lakes

Dredge

Dock

Corp.,

5.25%,

due

06/01/29,

par

and

fair

value

USD

261,000

and

$219,045,

respectively)

232

232,290

BNP

Paribas

SA,

0.40%, Open

(Purchased

04/17/24

repurchased

USD

1,083,715,

collateralized

Webuild

SpA,

7.00%,

due

09/27/28,

par

and

fair

value

EUR

920,000

and

$1,054,263,

respectively)

(r)

.....

EUR

1,015

1,083,570

BNP

Paribas

SA,

0.80%, Open

(Purchased

04/09/24

repurchased

USD

1,030,932,

collateralized

Webuild

SpA,

3.63%,

due

01/28/27,

par

and

fair

value

EUR

990,000

and

$1,022,888,

respectively)

(r)

.....

966

1,030,474

BNP

Paribas

SA,

1.50%, Open

(Purchased

03/27/24

repurchased

USD

821,306,

collateralized

Intrum

AB,

4.88%,

due

08/15/25,

par

and

fair

value

EUR

1,010,000

and

$883,855,

respectively)

(r)

..............

769

820,314

BNP

Paribas

SA,

3.00%, Open

(Purchased

04/15/24

repurchased

USD

1,347,488,

collateralized

Group

plc,

3.63%,

due

05/18/28,

par

and

fair

value

GBP

1,100,000

and

$1,296,825,

respectively)

(r)

.....

GBP

1,077

1,345,833

BNP

Paribas

SA,

3.50%, Open

(Purchased

04/09/24

repurchased

USD

2,452,840,

collateralized

Banco

Sabadell

SA,

5.13%,

due

06/27/34,

par

and

fair

value

EUR

2,300,000

and

$2,367,581,

respectively)

(r)

.....

EUR

2,294

2,448,080

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Par

(000)

Par

(000)

Value

Borrowed

Bond

Agreements

(continued)

BNP

Paribas

SA,

5.10%, Open

(Purchased

04/29/24

repurchased

USD

1,048,086,

collateralized

Frontier

Communications

Holdings

LLC,

6.75%,

due

05/01/29,

par

and

fair

value

USD

1,150,000

and

$1,011,331,

respectively)

(r)

.....

USD

1,048

1,047,938

BNP

Paribas

SA,

5.16%, Open

(Purchased

04/29/24

repurchased

USD

170,926,

collateralized

CrownRock

LP,

5.00%,

due

05/01/29,

par

and

fair

value

USD

169,000

and

$166,501,

respectively)

(r)

.......

171

170,901

BofA

Securities,

Inc.,

5.10%, 05/16/24

(Purchased

04/18/24

repurchased

USD

104,682,

collateralized

PHH

Mortgage

Corp.,

7.88%,

due

03/15/26,

par

and

fair

value

USD

108,000

and

$103,320,

respectively)

........

104

104,490

Goldman

Sachs

International,

3.60%, Open

(Purchased

04/15/24

repurchased

USD

1,112,634,

collateralized

Verisure

Midholding

AB,

5.25%,

due

02/15/29,

par

and

fair

value

EUR

1,080,000

and

$1,109,355,

respectively)

(r)

..............

EUR

1,041

1,110,968

J.P.

Morgan

Securities

plc,

3.55%, Open

(Purchased

04/15/24

repurchased

USD

1,552,234,

collateralized

Vonovia

SE,

0.25%,

due

09/01/28,

par

and

fair

value

EUR

1,700,000

and

$1,530,783,

respectively)

(r)

.....

1,452

1,549,941

J.P.

Morgan

Securities

plc,

3.60%, Open

(Purchased

04/15/24

repurchased

USD

1,120,583,

collateralized

Paprec

Holding

SA,

3.50%,

due

07/01/28,

par

and

fair

value

EUR

1,090,000

and

$1,115,876,

respectively)

(r)

1,048

1,118,905

J.P.

Morgan

Securities

plc,

3.60%, Open

(Purchased

04/15/24

repurchased

USD

730,478,

collateralized

Vonovia

SE,

0.25%,

due

09/01/28,

par

and

fair

value

EUR

800,000

and

$720,369,

respectively)

(r)

.......

683

729,384

J.P.

Morgan

Securities

plc,

3.65%, Open

(Purchased

04/15/24

repurchased

USD

1,710,638,

collateralized

Erste

Group

Bank

AG,

0.88%,

due

11/15/32,

par

and

fair

value

EUR

1,800,000

and

$1,694,355,

respectively)

(r)

..............

1,600

1,708,041

Security

Par

(000)

Par

(000)

Value

Borrowed

Bond

Agreements

(continued)

J.P.

Morgan

Securities

plc,

3.70%, Open

(Purchased

04/15/24

repurchased

USD

1,710,674,

collateralized

Erste

Group

Bank

AG,

0.88%,

due

11/15/32,

par

and

fair

value

EUR

1,800,000

and

$1,694,355,

respectively)

(r)

..............

EUR

1,600

1,708,041

Nomura

Securities

International,

Inc.,

3.35%, Open

(Purchased

04/12/24

repurchased

USD

642,831,

collateralized

Bondco

LLC,

9.50%,

due

10/15/31,

par

and

fair

value

USD

650,000

and

$624,209,

respectively)

(r)

..............

USD

642

641,875

Nomura

Securities

International,

Inc.,

4.75%, Open

(Purchased

04/12/24

repurchased

USD

325,573,

collateralized

PBF

Holding

Co.

LLC,

6.00%,

due

02/15/28,

par

and

fair

value

USD

329,000

and

$320,871,

respectively)

(r)

..............

325

324,888

RBC

Capital

Markets

LLC,

4.40%, Open

(Purchased

04/22/24

repurchased

USD

488,036,

collateralized

Bondco

LLC,

9.50%,

due

10/15/31,

par

and

fair

value

USD

500,000

and

$480,161,

respectively)

(r)

..............

488

487,500

RBC

Capital

Markets

LLC,

5.15%, Open

(Purchased

03/28/24

repurchased

USD

1,734,144,

collateralized

Community

Health

Systems,

Inc.,

6.00%,

due

01/15/29,

par

and

fair

value

USD

1,950,000

and

$1,701,259,

respectively)

(r)

.....

1,726

1,725,750

RBC

Europe

Ltd.,

3.65%, Open

(Purchased

04/15/24

repurchased

USD

1,112,658,

collateralized

Verisure

Midholding

AB,

5.25%,

due

02/15/29,

par

and

fair

value

EUR

1,080,000

and

$1,109,354,

respectively)

(r)

.....

EUR

1,041

1,110,968

Total

Borrowed

Bond

Agreements

—

3.6%

(Cost:

$31,252,429)

..............................

31,206,382

Commercial

Paper

—

0.6%

L3Harris

Technologies,

Inc.,

6.22%

08/29/24

(a)(s)

...............

USD

5,000

4,905,460

Total

Commercial

Paper

—

0.6%

(Cost:

$4,902,167)

..............................

4,905,460

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(Percentages

shown

are

based

Net

Assets)

Security

Value

Money

Market

Funds

—

7.5%

BlackRock

Liquidity

Funds,

T-Fund,

Institutional

Class,

5.18%

(t)(u)

....

64,671,834

Total

Money

Market

Funds

—

7.5%

(Cost:

$64,671,834)

..............................

64,671,834

Total

Short-Term

Securities

—

11.7%

(Cost:

$100,826,430)

.............................

100,783,676

Total

Options

Purchased

—

0.0%

(Cost:

$1,421,720

)

..............................

678,283

Total

Investments

Before

Options

Written,

Borrowed

Bonds

and

Investments

Sold

Short

—

102.5%

(Cost:

$969,665,646)

.............................

889,819,218

Total

Options

Written

—

(0.0)%

(Premiums

Received

—

$(554,248))

..................

(435,888)

Par

(000)

(

000)

Borrowed

Bonds

Corporate

Bonds

—

(3.5)%

Austria

—

(0.4)%

Erste

Group

Bank

AG,

(5-Year

EURIBOR

ICE

Swap

Rate

1.10%),

0.88%

11/15/32

(b)

...........

EUR

(3,600)

(3,388,710)

France

—

(0.1)%

Paprec

Holding

SA,

3.50%

07/01/28

(1,090)

(1,115,876)

Germany

—

(0.3)%

Vonovia

SE,

0.25%

09/01/28

......

(2,500)

(2,251,152)

Italy

—

(0.2)%

Webuild

SpA:

3.63%

01/28/27

............

(990)

(1,022,888)

7.00%

09/27/28

............

(920)

(1,054,263)

(2,077,151)

Spain

—

(0.3)%

Banco

Sabadell

SA,

(5-Year

EURIBOR

ICE

Swap

Rate

2.40%),

5.13%

06/27/34

(b)

...........

(2,300)

(2,367,581)

Sweden

—

(0.6)%

Akelius

Residential

Property

Financing

BV,

0.75%

02/22/30

.........

(1,850)

(1,550,848)

Intrum

AB,

4.88%

08/15/25

.......

(2,020)

(1,767,710)

Security

Par

(000)

Par

(000)

Value

Sweden

(continued)

Verisure

Midholding

AB,

5.25%

02/15/29

............

EUR

(2,160)

(2,218,709)

(5,537,267)

United

Kingdom

—

(0.5)%

INEOS

Quattro

Finance

plc,

3.75%

07/15/26

............

(1,850)

(1,908,228)

Motion

Bondco

DAC,

4.50%

11/15/27

(1,350)

(1,358,714)

Group

plc,

3.63%

05/18/28

...

GBP

(1,100)

(1,296,825)

(4,563,767)

United

States

—

(1.1)%

AthenaHealth

Group,

Inc.,

6.50%

02/15/30

(a)

...........

USD

(3,300)

(2,970,815)

CommScope,

Inc.,

6.00%

03/01/26

(a)

(1,213)

(1,084,119)

Community

Health

Systems,

Inc.,

6.00%

01/15/29

(a)

...........

(1,950)

(1,701,259)

CrownRock

LP,

5.00%

05/01/29

(a)

(169)

(166,501)

Frontier

Communications

Holdings

LLC,

6.75%

05/01/29

(a)

.......

(1,150)

(1,011,331)

Bondco

LLC,

9.50%

10/15/31

(a)

(1,650)

(1,584,530)

Great

Lakes

Dredge

Dock

Corp.,

5.25%

06/01/29

(a)

...........

(261)

(219,045)

Park

River

Holdings,

Inc.,

5.63%

02/01/29

(a)

...........

(156)

(128,424)

PBF

Holding

Co.

LLC,

6.00%

02/15/28

(329)

(320,871)

PHH

Mortgage

Corp.,

7.88%

03/15/26

(a)

...........

(309)

(295,610)

(9,482,505)

Total

Borrowed

Bonds

—

(3.5)%

(Proceeds:

$(30,630,195))

.........................

(30,784,009)

Investments

Sold

Short

Corporate

Bonds

United

States

—

(0.1)%

CommScope,

Inc.,

8.25%

03/01/27

(a)

(1,117)

(430,629)

Total

Corporate

Bonds

—

(0.1)%

(Proceeds:

$(982,978))

...........................

(430,629)

Total

Investments

Sold

Short

—

(0.1)%

(Proceeds:

$(982,978)

)

...........................

(430,629)

Total

Investments

Net

Options

Written,

Borrowed

Bonds

and

Investments

Sold

Short

—

98.9%

(Cost:

$937,498,225)

.............................

858,168,692

Other

Assets

Less

Liabilities

—

1.1%

...................

9,553,297

Net

Assets

—

100.0%

..............................

867,721,989

(a)

Security

exempt

from

registration

pursuant

Rule

144A

under

the

Securities

Act

1933,

amended.

These

securities

may

resold

transactions

exempt

from

registration

qualified

institutional

investors.

(b)

Variable

rate

security.

Interest

rate

resets

periodically.

The

rate

shown

the

effective

interest

rate

period

end.

Security

description

also

includes

the

reference

rate

and

spread

published

and

available.

(c)

This

security

may

resold

qualified

foreign

investors

and

foreign

institutional

buyers

under

Regulation

the

Securities

Act

1933.

(d)

Step

coupon

security.

Coupon

rate

will

either

increase

(step-up

bond)

decrease

(step-down

bond)

regular

intervals

until

maturity.

Interest

rate

shown

reflects

the

rate

currently

effect.

(e)

Non-income

producing

security.

(f)

Security

valued

using

significant

unobservable

inputs

and

classified

Level

the

fair

value

hierarchy.

(g)

security

contractually

bound

one

other

securities

form

single

saleable

unit

which

cannot

sold

separately.

(h)

All

portion

the

security

has

been

pledged

and/or

segregated

collateral

connection

with

outstanding

exchange-traded

options

written.

(i)

Restricted

security

resale,

excluding

144A

securities.

The

Fund

held

restricted

securities

with

current

value

$3,230,245,

representing

0.37%

its

net

assets

period

end,

and

original

cost

$2,749,490.

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

Affiliates

Investments

issuers

considered

affiliate(s)

the

Fund

during

the period

ended

April

30,

2024

for

purposes

Section

2(a)(3)

the

Investment

Company

Act

1940,

amended,

were

follows:

(j)

Zero-coupon

bond.

(k)

Convertible

security.

(l)

Issuer

filed

for

bankruptcy

and/or

default.

(m)

Perpetual

security

with

stated

maturity

date.

(n)

Payment-in-kind

security

which

may

pay

interest/dividends

additional

par/shares

and/or

cash.

Rates

shown

are

the

current

rate

and

possible

payment

rates.

(o)

Rounds

less

than

1,000.

(p)

Represents

unsettled

loan

commitment

period

end.

Certain

details

associated

with

this

purchase

are

not

known

prior

the

settlement

date,

including

coupon

rate.

(q)

Certain

agreements

have

stated

maturity

and

can

terminated

either

party

any

time.

(r)

The

amount

repurchased

assumes

the

maturity

will

the

day

after

the

period

end.

(s)

Rates

are

discount

rates

range

discount

rates

period

end.

(t)

Affiliate

the

Fund.

(u)

Annualized

7-day

yield

period

end.

Affiliated

Issuer

Value

07/31/23

Purchases

Cost

Proceeds

from

Sales

Net

Realized

Gain

(Loss)

Change

Unrealized

Appreciation

(Depreciation)

Value

04/30/24

Held

04/30/24

Income

Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Liquidity

Funds,

T-Fund,

Institutional

Class

56,350,784

8,321,050

(a)

—

64,671,834

2,538,009

—

iShares

0-5

Year

High

Yield

Corporate

Bond

ETF

(b)

...

—

2,018,530

(2,059,904)

41,374

—

41,374

—

64,671,834

2,538,009

—

(a)

Represents

net

amount

purchased

(sold).

(b)

period

end,

the

entity

longer

held.

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

Derivative

Financial

Instruments

Outstanding

Period

End

Futures

Contracts

Description

Number

Contracts

Expiration

Date

Notional

Amount

(000)

Value/

Unrealized

Appreciation

(Depreciation)

Long

Contracts

U.S.

Treasury

10-Year

Note

...................................................

06/18/24

3,976

(

98,919

)

U.S.

Treasury

10-Year

Ultra

Note

...............................................

06/18/24

221

(

7,268

)

(

106,187

)

Short

Contracts

Euro-Bobl

...............................................................

06/06/24

870

8,285

U.S.

Treasury

10-Year

Note

...................................................

06/18/24

1,397

34,713

U.S.

Treasury

Ultra

Bond

.....................................................

06/18/24

1,795

7,632

EURO

STOXX

Index

.....................................................

06/21/24

1,716

16,044

EURO

STOXX

Banks

Price

Index

...............................................

06/21/24

400

(

40,819

)

Russell

2000

E-Mini

Index

....................................................

06/21/24

6,552

344,884

S&P

500

E-Mini

Index

.......................................................

06/21/24

253

6,216

376,955

270,768

Forward

Foreign

Currency

Exchange

Contracts

Currency

Purchased

Currency

Sold

Counterparty

Settlement

Date

Unrealized

Appreciation

(Depreciation)

USD

577,561

EUR

525,608

Deutsche

Bank

05/16/24

16,317

GBP

1,977,209

USD

2,449,787

JPMorgan

Chase

Bank

06/20/24

21,483

USD

548,238

AUD

834,000

Morgan

Stanley

Co.

International

plc

06/20/24

7,165

USD

1,316,153

EUR

1,217,211

Barclays

Bank

plc

06/20/24

14,443

USD

306,581,921

EUR

280,325,000

BNP

Paribas

06/20/24

6,796,723

USD

102,165

EUR

94,000

Deutsche

Bank

06/20/24

1,640

USD

1,293,603

EUR

1,194,000

JPMorgan

Chase

Bank

06/20/24

16,715

USD

878,241

EUR

809,005

Morgan

Stanley

Co.

International

plc

06/20/24

13,075

USD

1,317,823

EUR

1,206,123

Toronto

Dominion

Bank

06/20/24

27,970

USD

1,290,255

EUR

1,179,877

UBS

06/20/24

28,471

USD

50,592,167

GBP

39,716,000

Barclays

Bank

plc

06/20/24

952,022

USD

105,732

GBP

83,000

HSBC

Bank

plc

06/20/24

1,992

USD

1,698,924

GBP

1,343,870

JPMorgan

Chase

Bank

06/20/24

19,249

USD

1,960,708

GBP

1,540,372

Morgan

Stanley

Co.

International

plc

06/20/24

35,432

USD

133,484

JPY

19,821,000

Morgan

Stanley

Co.

International

plc

06/20/24

6,845

7,959,542

EUR

525,608

USD

576,464

BNP

Paribas

05/16/24

(

15,219

)

EUR

416,175

USD

445,559

Bank

America

06/04/24

(

810

)

EUR

416,535

USD

445,947

Standard

Chartered

Bank

06/04/24

(

813

)

EUR

2,996,429

USD

3,250,255

BNP

Paribas

06/20/24

(

45,813

)

EUR

10,399,950

USD

11,328,275

Deutsche

Bank

06/20/24

(

206,359

)

GBP

2,973,121

USD

3,768,012

JPMorgan

Chase

Bank

06/20/24

(

51,974

)

USD

912,770

EUR

855,879

Bank

America

06/20/24

(

2,524

)

USD

2,557,819

GBP

2,056,127

Barclays

Bank

plc

06/20/24

(

12,088

)

USD

283,930

GBP

227,854

Morgan

Stanley

Co.

International

plc

06/20/24

(

860

)

(

336,460

)

7,623,082

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

Exchange-Traded

Options

Purchased

Description

Number

Contracts

Expiration

Date

Exercise

Price

Notional

Amount

(000)

Value

Call

Paramount

Global

...........................

500

05/17/24

USD

14.00

USD

570

9,249

Paramount

Global

...........................

500

05/17/24

USD

16.00

USD

570

3,250

Sabre

Corp.

...............................

1,000

05/17/24

USD

3.50

USD

287

9,500

SPDR

S&P

Oil

Gas

Exploration

Production

ETF

....

250

05/17/24

USD

175.00

USD

3,786

1,625

CBOE

Volatility

Index

.........................

500

05/22/24

USD

20.00

USD

783

22,500

CBOE

Volatility

Index

.........................

1,250

05/22/24

USD

25.00

USD

1,956

30,000

Lions

Gate

Entertainment

Corp.

..................

500

06/21/24

USD

12.50

USD

472

5,000

Paramount

Global

...........................

500

06/21/24

USD

15.00

USD

570

18,249

Sabre

Corp.

...............................

1,000

07/19/24

USD

3.50

USD

287

23,000

Sabre

Corp.

...............................

1,500

07/19/24

USD

4.50

USD

431

12,000

134,373

Put

U.S.

Treasury

10-Year

Note

.....................

150

05/03/24

USD

106.50

USD

150

14,063

ams-OSRAM

............................

650

05/17/24

CHF

1.00

CHF

6,717

EURO

STOXX

Index

.......................

159

05/17/24

EUR

4,850.00

EUR

7,825

54,469

iShares

iBoxx

High

Yield

Corporate

Bond

ETF

.......

1,350

05/17/24

USD

75.00

USD

10,299

17,550

iShares

J.P.

Morgan

USD

Emerging

Markets

Bond

ETF

1,000

05/17/24

USD

83.00

USD

8,715

7,500

iShares

Russell

2000

ETF

......................

250

05/17/24

USD

180.00

USD

4,898

7,250

iShares

Russell

2000

ETF

......................

500

05/17/24

USD

165.00

USD

9,795

2,500

S&P

500

Index

.............................

05/17/24

USD

4,800.00

USD

11,582

20,010

SPDR

S&P

500

ETF

Trust

......................

05/17/24

USD

504.00

USD

2,209

29,546

iShares

iBoxx

High

Yield

Corporate

Bond

ETF

.......

220

06/21/24

USD

76.00

USD

1,678

15,620

iShares

iBoxx

High

Yield

Corporate

Bond

ETF

.......

500

07/19/24

USD

73.00

USD

3,815

13,000

188,225

322,598

OTC

Credit

Default

Swaptions

Purchased

Paid

the

Fund

Received

the

Fund

Description

Rate/Reference

Frequency

Counterparty

Expiration

Date

Exercise

Price

Notional

Amount

(000)

(a)

Value

Put

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

Markit

CDX

North

American

High

Yield

Index

Series

42.V1

Quarterly

Bank

America

05/15/24

USD

104.00

USD

7,500

6,094

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

Markit

CDX

North

American

High

Yield

Index

Series

42.V1

Quarterly

Goldman

Sachs

International

05/15/24

USD

104.00

USD

5,000

4,063

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

Markit

CDX

North

American

High

Yield

Index

Series

41.V2

Quarterly

Goldman

Sachs

International

05/15/24

USD

104.50

USD

10,000

7,095

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

Markit

CDX

North

American

High

Yield

Index

Series

42.V1

Quarterly

Morgan

Chase

Bank

05/15/24

USD

105.00

USD

10,000

21,145

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

Markit

CDX

North

American

High

Yield

Index

Series

42.V1

Quarterly

Morgan

Chase

Bank

05/15/24

USD

105.00

USD

5,000

10,572

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

iTraxx

Europe

Crossover

Index

Series

41.V1

Quarterly

Morgan

Chase

Bank

05/15/24

EUR

350.00

EUR

10,000

12,197

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

iTraxx

Europe

Crossover

Index

Series

41.V1

Quarterly

Morgan

Stanley

Co.

International

plc

06/19/24

EUR

350.00

EUR

15,720

89,119

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

iTraxx

Europe

Crossover

Index

Series

41.V1

Quarterly

Morgan

Stanley

Co.

International

plc

05/15/24

EUR

350.00

EUR

15,000

18,295

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

OTC

Credit

Default

Swaptions

Purchased

(continued)

Paid

the

Fund

Received

the

Fund

Description

Rate/Reference

Frequency

Counterparty

Expiration

Date

Exercise

Price

Notional

Amount

(000)

(a)

Value

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

iTraxx

Europe

Crossover

Index

Series

41.V1

Quarterly

Morgan

Stanley

Co.

International

plc

07/17/24

EUR

350.00

EUR

19,840

176,617

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

iTraxx

Europe

Crossover

Index

Series

41.V1

Quarterly

Morgan

Stanley

Co.

International

plc

05/15/24

EUR

400.00

EUR

10,000

3,496

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

iTraxx

Europe

Crossover

Index

Series

41.V1

Quarterly

Morgan

Stanley

Co.

International

plc

05/15/24

EUR

400.00

EUR

10,000

3,496

Bought

Protection

5-Year

Credit

Default

Swap

......

.00

iTraxx

Europe

Crossover

Index

Series

41.V1

Quarterly

Morgan

Stanley

Co.

International

plc

05/15/24

EUR

400.00

EUR

10,000

3,496

355,685

(a)

The

maximum

potential

amount

the

Fund

may

pay

should

negative

credit

event

take

place

defined

under

the

terms

the

agreement.

Exchange-Traded

Options

Written

Description

Number

Contracts

Expiration

Date

Exercise

Price

Notional

Amount

(000)

Value

Call

Paramount

Global

............................

500

05/17/24

USD

18.00

USD

570

(

3,750

)

SPDR

S&P

Oil

Gas

Exploration

Production

ETF

.....

250

05/17/24

USD

190.00

USD

3,786

(

31,500

)

CBOE

Volatility

Index

..........................

500

05/22/24

USD

35.00

USD

783

(

5,500

)

CBOE

Volatility

Index

..........................

1,250

05/22/24

USD

45.00

USD

1,956

(

8,125

)

Paramount

Global

............................

500

06/21/24

USD

19.00

USD

570

(

4,500

)

(

53,375

)

Put

U.S.

Treasury

10-Year

Note

......................

150

05/03/24

USD

104.00

USD

150

(

150

)

EURO

STOXX

Index

........................

159

05/17/24

EUR

4,500.00

EUR

7,825

(

7,296

)

iShares

Russell

2000

ETF

.......................

250

05/17/24

USD

160.00

USD

4,898

(

876

)

(

8,322

)

(

61,697

)

OTC

Credit

Default

Swaptions

Written

Paid

the

Fund

Received

the

Fund

Description

Rate/Reference

Frequency

Counterparty

Expiration

Date

Credit

Rating

(a)

Exercise

Price

Notional

Amount

(000)

(b)

Value

Call

Sold

Protection

5-Year

Credit

Default

Swap

.........

.00

iTraxx

Europe

Crossover

Index

Series

41.V1

Quarterly

Morgan

Stanley

Co.

International

plc

07/17/24

BB-

EUR

312.50

EUR

19,840

(

114,289

)

Sold

Protection

5-Year

Credit

Default

Swap

.........

.00

iTraxx

Europe

Crossover

Index

Series

41.V1

Quarterly

Morgan

Stanley

Co.

International

plc

06/19/24

BB-

EUR

325.00

EUR

15,720

(

123,306

)

(

237,595

)

Put

Sold

Protection

5-Year

Credit

Default

Swap

.........

Markit

CDX

North

American

High

Yield

Index

Series

42.V1

.00

Quarterly

Bank

America

05/15/24

B+

USD

100.00

USD

7,500

(

2,051

)

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

OTC

Credit

Default

Swaptions

Written

(continued)

Paid

the

Fund

Received

the

Fund

Description

Rate/Reference

Frequency

Counterparty

Expiration

Date

Credit

Rating

(a)

Exercise

Price

Notional

Amount

(000)

(b)

Value

Sold

Protection

5-Year

Credit

Default

Swap

.........

Markit

CDX

North

American

High

Yield

Index

Series

42.V1

.00

Quarterly

Goldman

Sachs

International

05/15/24

B+

USD

100.00

USD

5,000

(

1,367

)

Sold

Protection

5-Year

Credit

Default

Swap

.........

iTraxx

Europe

Crossover

Index

Series

41.V1

.00

Quarterly

Morgan

Stanley

Co.

International

plc

06/19/24

BB-

EUR

400.00

EUR

15,720

(

36,636

)

Sold

Protection

5-Year

Credit

Default

Swap

.........

iTraxx

Europe

Crossover

Index

Series

41.V1

.00

Quarterly

Morgan

Stanley

Co.

International

plc

07/17/24

BB-

EUR

400.00

EUR

19,840

(

89,540

)

Sold

Protection

5-Year

Credit

Default

Swap

.........

iTraxx

Europe

Crossover

Index

Series

41.V1

.00

Quarterly

Morgan

Chase

Bank

05/15/24

BB-

EUR

450.00

EUR

10,000

(

2,644

)

Sold

Protection

5-Year

Credit

Default

Swap

.........

iTraxx

Europe

Crossover

Index

Series

41.V1

.00

Quarterly

Morgan

Stanley

Co.

International

plc

05/15/24

BB-

EUR

500.00

EUR

10,000

(

2,179

)

Sold

Protection

5-Year

Credit

Default

Swap

.........

iTraxx

Europe

Crossover

Index

Series

41.V1

.00

Quarterly

Morgan

Stanley

Co.

International

plc

05/15/24

BB-

EUR

500.00

EUR

10,000

(

2,179

)

(

136,596

)

(

374,191

)

(a)

Using

the

rating

the

issuer

the

underlying

securities

the

index,

applicable,

provided

S&P

Global

Ratings.

(b)

The

maximum

potential

amount

the

Fund

may

pay

should

negative

credit

event

take

place

defined

under

the

terms

the

agreement.

Centrally

Cleared

Credit

Default

Swaps

—

Buy

Protection

Reference

Obligation/Index

Financing

Rate

Paid

the

Fund

Payment

Frequency

Termination

Date

Notional

Amount

(000)

Value

Upfront

Premium

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

iTraxx

Europe

Crossover

Index

Series

41.V1

.00

Quarterly

06/20/29

EUR

318

(

28,044

)

(

31,854

)

3,810

iTraxx

Europe

Crossover

Index

Series

41.V1

.00

Quarterly

06/20/29

EUR

9,382

(

827,379

)

(

913,447

)

86,068

iTraxx

Europe

Main

Index

Series

41.V1

.....

.00

Quarterly

06/20/29

EUR

1,009

(

23,603

)

(

23,505

)

(

)

iTraxx

Europe

Main

Index

Series

41.V1

.....

.00

Quarterly

06/20/29

EUR

53,306

(

1,246,937

)

(

1,226,477

)

(

20,460

)

iTraxx

Europe

Senior

Financials

Index

Series

41.V1

.........................

.00

Quarterly

06/20/29

EUR

2,667

(

51,753

)

(

49,530

)

(

2,223

)

iTraxx

Europe

Subordinated

Financials

Index

Series

41.V1

.....................

.00

Quarterly

06/20/29

EUR

9,636

66,981

81,858

(

14,877

)

Markit

CDX

North

American

High

Yield

Index

Series

42.V1

.....................

.00

Quarterly

06/20/29

USD

7,347

(

474,549

)

(

480,442

)

5,893

(

2,585,284

)

(

2,643,397

)

58,113

Centrally

Cleared

Interest

Rate

Swap

Paid

the

Fund

Received

the

Fund

Rate

Frequency

Rate

Frequency

Termination

Date

Notional

Amount

(000)

Value

Upfront

Premium

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

0.18%

Quarterly

1-day

EFFR

Quarterly

10/21/25

USD

143

10,092

—

10,092

1-day

SOFR

Quarterly

0.17%

Quarterly

10/21/25

USD

143

(

10,128

)

—

(

10,128

)

(

)

—

(

)

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

OTC

Credit

Default

Swap

—

Buy

Protection

Reference

Obligation/Index

Financing

Rate

Paid

the

Fund

Payment

Frequency

Counterparty

Termination

Date

Notional

Amount

(000)

Value

Upfront

Premium

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

Barclays

Bank

plc

06/20/24

USD

1,000

252

8,941

(

8,689

)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

Barclays

Bank

plc

06/20/24

USD

370

3,402

(

3,309

)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

BNP

Paribas

06/20/24

USD

750

189

6,293

(

6,104

)

Staples,

Inc.

.............

.00

Quarterly

Barclays

Bank

plc

06/20/24

USD

500

(

3,774

)

4,028

(

7,802

)

Staples,

Inc.

.............

.00

Quarterly

Goldman

Sachs

International

06/20/24

USD

525

(

3,963

)

3,575

(

7,538

)

Xerox

Corp.

.............

.00

Quarterly

BNP

Paribas

06/20/24

USD

1,500

(

2,624

)

3,926

(

6,550

)

American

Airlines

Group,

Inc.

.00

Quarterly

Morgan

Chase

Bank

12/20/24

USD

1,000

(

32,116

)

(

7,451

)

(

24,665

)

American

Airlines

Group,

Inc.

.00

Quarterly

Morgan

Chase

Bank

12/20/24

USD

500

(

16,058

)

(

3,725

)

(

12,333

)

Avis

Budget

Car

Rental

LLC

.00

Quarterly

Morgan

Chase

Bank

12/20/24

USD

270

(

8,902

)

2,896

(

11,798

)

Southwest

Airlines

Co.

......

.00

Quarterly

Citibank

12/20/24

USD

10,000

(

57,209

)

(

26,472

)

(

30,737

)

Ally

Financial,

Inc.

.........

.00

Quarterly

Citibank

06/20/25

USD

1,320

(

72,945

)

(

32,369

)

(

40,576

)

Ally

Financial,

Inc.

.........

.00

Quarterly

Citibank

06/20/25

USD

880

(

48,630

)

(

21,583

)

(

27,047

)

Avis

Budget

Car

Rental

LLC

.00

Quarterly

Morgan

Chase

Bank

06/20/25

USD

270

(

13,790

)

7,638

(

21,428

)

Macy's

Retail

Holdings

LLC

...

.00

Quarterly

Goldman

Sachs

International

06/20/25

USD

2,300

(

14,136

)

127,098

(

141,234

)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

Goldman

Sachs

International

06/20/25

USD

1,000

6,876

119,086

(

112,210

)

Simon

Property

Group

....

.00

Quarterly

Goldman

Sachs

International

06/20/25

USD

1,200

(

12,078

)

22,406

(

34,484

)

Simon

Property

Group

....

.00

Quarterly

Goldman

Sachs

International

06/20/25

USD

1,000

(

10,065

)

24,530

(

34,595

)

Boparan

Finance

plc

.......

.00

Quarterly

Goldman

Sachs

International

12/20/25

EUR

1,709

54,580

56,853

(

2,273

)

Grifols

...............

.00

Quarterly

Morgan

Chase

Bank

12/20/25

EUR

670

11,390

(

10,853

)

22,243

Grifols

...............

.00

Quarterly

Morgan

Stanley

Co.

International

plc

12/20/25

EUR

1,068

18,155

(

4,372

)

22,527

Community

Health

Systems,

Inc.

.00

Quarterly

Goldman

Sachs

International

06/20/26

USD

300

19,600

29,962

(

10,362

)

Community

Health

Systems,

Inc.

.00

Quarterly

Goldman

Sachs

International

06/20/26

USD

200

13,067

15,407

(

2,340

)

General

Electric

Co.

........

.00

Quarterly

Morgan

Stanley

Co.

International

plc

06/20/27

USD

899

(

21,553

)

11,896

(

33,449

)

General

Electric

Co.

........

.00

Quarterly

Morgan

Stanley

Co.

International

plc

06/20/27

USD

1,201

(

28,794

)

14,883

(

43,677

)

General

Electric

Co.

........

.00

Quarterly

Morgan

Stanley

Co.

International

plc

06/20/27

USD

899

(

21,553

)

11,896

(

33,449

)

BorgWarner,

Inc.

..........

.00

Quarterly

BNP

Paribas

12/20/27

USD

2,000

(

33,490

)

20,200

(

53,690

)

INEOS

Group

Holdings

...

.00

Quarterly

BNP

Paribas

12/20/27

EUR

449

(

62,155

)

(

35,061

)

(

27,094

)

Intesa

Sanpaolo

SpA

.......

.00

Quarterly

BNP

Paribas

12/20/27

EUR

2,100

3,541

122,626

(

119,085

)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

Bank

America

12/20/27

USD

750

112,039

145,893

(

33,854

)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

Barclays

Bank

plc

12/20/27

USD

510

76,187

96,538

(

20,351

)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

Citibank

12/20/27

USD

300

44,816

59,771

(

14,955

)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

Citibank

12/20/27

USD

450

67,223

92,274

(

25,051

)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

Citibank

12/20/27

USD

1,500

224,078

406,170

(

182,092

)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

Goldman

Sachs

International

12/20/27

USD

500

74,693

94,698

(

20,005

)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

Morgan

Chase

Bank

12/20/27

USD

1,000

149,386

256,572

(

107,186

)

Simon

Property

Group

....

.00

Quarterly

Goldman

Sachs

International

12/20/27

USD

5,250

(

93,631

)

59,551

(

153,182

)

Simon

Property

Group

....

.00

Quarterly

Morgan

Chase

Bank

12/20/27

USD

3,650

(

65,096

)

41,481

(

106,577

)

UniCredit

SpA

............

.00

Quarterly

Goldman

Sachs

International

12/20/27

EUR

2,100

2,448

120,965

(

118,517

)

UniCredit

SpA

............

.00

Quarterly

Morgan

Chase

Bank

12/20/27

EUR

1,939

2,260

101,890

(

99,630

)

Xerox

Corp.

.............

.00

Quarterly

Citibank

12/20/27

USD

490

24,069

41,632

(

17,563

)

Xerox

Corp.

.............

.00

Quarterly

Morgan

Chase

Bank

12/20/27

USD

830

40,770

70,771

(

30,001

)

Altice

France

..........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

EUR

1,131

389,656

159,106

230,550

Altice

France

..........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

EUR

2,230

768,287

417,861

350,426

Altice

France

..........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

EUR

1,690

582,244

237,743

344,501

Credit

Suisse

Group

Finance

Guernsey

Ltd.

..........

.00

Quarterly

BNP

Paribas

06/20/28

EUR

133

(

2,854

)

4,976

(

7,830

)

Credit

Suisse

Group

Finance

Guernsey

Ltd.

..........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

EUR

112

(

2,403

)

4,946

(

7,349

)

Credit

Suisse

Group

Finance

Guernsey

Ltd.

..........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

EUR

1,000

(

21,459

)

29,614

(

51,073

)

Credit

Suisse

Group

Finance

Guernsey

Ltd.

..........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

EUR

(

815

)

1,747

(

2,562

)

Credit

Suisse

Group

Finance

Guernsey

Ltd.

..........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

EUR

117

(

2,511

)

5,808

(

8,319

)

Deutsche

Bank

.........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

EUR

600

(

3,007

)

41,567

(

44,574

)

Deutsche

Bank

.........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

EUR

131

(

657

)

6,211

(

6,868

)

Deutsche

Bank

.........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

EUR

117

(

586

)

5,255

(

5,841

)

Deutsche

Bank

.........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

EUR

352

(

1,764

)

15,809

(

17,573

)

Paramount

Global

.........

.00

Quarterly

Morgan

Chase

Bank

06/20/28

USD

4,150

65,469

152,402

(

86,933

)

Pitney

Bowes,

Inc.

.........

.00

Quarterly

Citibank

06/20/28

USD

750

133,276

224,204

(

90,928

)

Boeing

Co.

(The)

..........

.00

Quarterly

Deutsche

Bank

12/20/28

USD

200

1,053

(

909

)

1,962

Global

Finance

plc

......

.00

Quarterly

Deutsche

Bank

12/20/28

EUR

1,711

75,342

64,482

10,860

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

OTC

Credit

Default

Swaps

—

Buy

Protection

(continued)

Reference

Obligation/Index

Financing

Rate

Paid

the

Fund

Payment

Frequency

Counterparty

Termination

Date

Notional

Amount

(000)

Value

Upfront

Premium

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

Gap,

Inc.

(The)

...........

.00

Quarterly

Morgan

Stanley

Co.

International

plc

12/20/28

USD

1,000

32,107

144,426

(

112,319

)

International

Consolidated

Airlines

Group

.......

.00

Quarterly

Morgan

Chase

Bank

12/20/28

EUR

3,000

(

499,636

)

(

177,727

)

(

321,909

)

J.P.

Morgan

Structured

Products

.................

.00

Quarterly

Bank

America

12/20/28

EUR

1,070

34,314

60,477

(

26,163

)

Paramount

Global

.........

.00

Quarterly

Morgan

Chase

Bank

12/20/28

USD

125

3,471

8,583

(

5,112

)

Paramount

Global

.........

.00

Quarterly

Morgan

Chase

Bank

12/20/28

USD

125

3,471

8,363

(

4,892

)

Xerox

Corp.

.............

.00

Quarterly

Morgan

Chase

Bank

12/20/28

USD

170

15,004

19,140

(

4,136

)

Xerox

Corp.

.............

.00

Quarterly

Morgan

Stanley

Co.

International

plc

12/20/28

USD

330

29,125

37,153

(

8,028

)

ELO

SACA

..............

.00

Quarterly

Bank

America

06/20/29

EUR

1,975

140,000

148,593

(

8,593

)

Grifols

...............

.00

Quarterly

Barclays

Bank

plc

06/20/29

EUR

3,132

343,374

333,687

9,687

Ladbrokes

Group

Finance

plc

.00

Quarterly

Bank

America

06/20/29

EUR

426

12,313

12,468

(

155

)

Ladbrokes

Group

Finance

plc

.00

Quarterly

Goldman

Sachs

International

06/20/29

EUR

1,705

49,253

57,940

(

8,687

)

Novafives

SAS

...........

.00

Quarterly

Goldman

Sachs

International

06/20/29

EUR

948

(

126,876

)

(

90,446

)

(

36,430

)

Novafives

SAS

...........

.00

Quarterly

Morgan

Chase

Bank

06/20/29

EUR

1,026

(

137,316

)

(

75,943

)

(

61,373

)

Picard

Bondco

.........

.00

Quarterly

Deutsche

Bank

06/20/29

EUR

1,069

(

82,007

)

(

97,303

)

15,296

Republic

Panama

........

.00

Quarterly

Bank

America

06/20/29

USD

4,000

150,583

155,273

(

4,690

)

Southwest

Airlines

Co.

......

.00

Quarterly

Citibank

06/20/29

USD

10,070

24,717

(

74,971

)

99,688

Southwest

Airlines

Co.

......

.00

Quarterly

Citibank

06/20/29

USD

4,500

11,045

(

12,100

)

23,145

Stena

...............

.00

Quarterly

Morgan

Stanley

Co.

International

plc

06/20/29

EUR

2,617

(

360,704

)

(

336,660

)

(

24,044

)

Telecom

Italia

SpA

.........

.00

Quarterly

Goldman

Sachs

International

06/20/29

EUR

1,987

155,515

151,326

4,189

Verisure

Midholding

......

.00

Quarterly

Deutsche

Bank

06/20/29

EUR

1,000

(

66,308

)

(

60,966

)

(

5,342

)

Volvo

Car

............

.00

Quarterly

Barclays

Bank

plc

06/20/29

EUR

2,140

(

371,749

)

(

352,871

)

(

18,878

)

Volvo

Car

............

.00

Quarterly

Goldman

Sachs

International

06/20/29

EUR

2,000

(

347,429

)

(

337,117

)

(

10,312

)

–

1,314,688

2,956,009

(

1,641,321

)

–

OTC

Credit

Default

Swap

—

Sell

Protection

Reference

Obligation/Index

Financing

Rate

Received

the

Fund

Payment

Frequency

Counterparty

Termination

Date

Credit

Rating

(a)

Notional

Amount

(000)

(b)

Value

Upfront

Premium

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

Verizon

Communications,

Inc.

.............

.00

Quarterly

Deutsche

Bank

06/20/24

BBB+

USD

15,000

33,235

5,455

27,780

Verizon

Communications,

Inc.

.............

.00

Quarterly

Deutsche

Bank

06/20/24

BBB+

USD

10,000

22,157

3,668

18,489

ADLER

Real

Estate

.00

Quarterly

Morgan

Chase

Bank

12/20/24

EUR

420

(

12,061

)

(

22,312

)

10,251

Altice

France

......

.00

Quarterly

Morgan

Chase

Bank

06/20/25

CCC+

EUR

2,230

(

260,791

)

(

106,185

)

(

154,606

)

Sprint

Communications

LLC

.00

Quarterly

Barclays

Bank

plc

06/20/25

USD

3,000

175,387

102,872

72,515

Sprint

Communications

LLC

.00

Quarterly

Barclays

Bank

plc

06/20/25

USD

2,000

116,925

74,722

42,203

Sprint

Communications

LLC

.00

Quarterly

Barclays

Bank

plc

06/20/25

USD

2,200

128,617

93,771

34,846

Sprint

Communications

LLC

.00

Quarterly

Barclays

Bank

plc

06/20/25

USD

1,300

76,001

53,880

22,121

Sprint

Communications

LLC

.00

Quarterly

Barclays

Bank

plc

06/20/25

USD

667

38,975

28,542

10,433

Altice

France

......

.00

Quarterly

Morgan

Chase

Bank

12/20/25

CCC+

EUR

1,544

(

270,148

)

2,540

(

272,688

)

Altice

France

......

.00

Quarterly

Morgan

Chase

Bank

12/20/25

CCC+

EUR

2,047

(

358,098

)

(

28,598

)

(

329,500

)

CCO

Holdings

LLC

....

.00

Quarterly

BNP

Paribas

12/20/25

BB-

USD

909

59,102

55,450

3,652

CCO

Holdings

LLC

....

.00

Quarterly

BNP

Paribas

12/20/25

BB-

USD

545

35,461

33,286

2,175

CCO

Holdings

LLC

....

.00

Quarterly

Morgan

Chase

Bank

12/20/25

BB-

USD

2,000

130,024

116,640

13,384

CCO

Holdings

LLC

....

.00

Quarterly

Morgan

Chase

Bank

12/20/25

BB-

USD

545

35,461

33,568

1,893

ADLER

Real

Estate

.00

Quarterly

Barclays

Bank

plc

12/20/27

EUR

182

(

11,518

)

(

29,369

)

17,851

ADLER

Real

Estate

.00

Quarterly

Barclays

Bank

plc

12/20/27

EUR

125

(

7,902

)

(

20,152

)

12,250

ADLER

Real

Estate

.00

Quarterly

Citibank

12/20/27

EUR

248

(

15,727

)

(

41,282

)

25,555

ADLER

Real

Estate

.00

Quarterly

Morgan

Stanley

Co.

International

plc

12/20/27

EUR

377

(

23,863

)

(

61,896

)

38,033

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

OTC

Credit

Default

Swaps

—

Sell

Protection

(continued)

Reference

Obligation/Index

Financing

Rate

Received

the

Fund

Payment

Frequency

Counterparty

Termination

Date

Credit

Rating

(a)

Notional

Amount

(000)

(b)

Value

Upfront

Premium

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

CMA

CGM

........

.00

Quarterly

Bank

America

12/20/27

EUR

800

103,576

(

18,682

)

122,258

CMA

CGM

........

.00

Quarterly

BNP

Paribas

12/20/27

EUR

942

121,961

(

24,261

)

146,222

Amkor

Technology,

Inc.

.00

Quarterly

Citibank

06/20/28

USD

2,000

328,393

253,098

75,295

Amkor

Technology,

Inc.

.00

Quarterly

Morgan

Chase

Bank

06/20/28

USD

2,000

328,393

244,069

84,324

Amkor

Technology,

Inc.

.00

Quarterly

Morgan

Chase

Bank

06/20/28

USD

2,000

328,393

249,253

79,140

AT&T,

Inc.

...........

.00

Quarterly

Bank

America

12/20/28

BBB

USD

5,000

76,953

51,336

25,617

Boparan

Finance

plc

...

.00

Quarterly

Goldman

Sachs

International

12/20/28

EUR

2,137

(

168,274

)

(

158,810

)

(

9,464

)

Bristol-Myers

Squibb

Co.

.00

Quarterly

Morgan

Chase

Bank

12/20/28

USD

5,000

148,583

131,775

16,808

CCO

Holdings

LLC

....

.00

Quarterly

Bank

America

12/20/28

BB-

USD

3,000

249,005

227,320

21,685

CCO

Holdings

LLC

....

.00

Quarterly

Bank

America

12/20/28

BB-

USD

2,000

166,004

159,001

7,003

CCO

Holdings

LLC

....

.00

Quarterly

Bank

America

12/20/28

BB-

USD

2,000

166,004

151,281

14,723

Teva

Pharmaceutical

Finance

Netherlands

III

.............

.00

Quarterly

Goldman

Sachs

International

12/20/28

BB-

USD

2,000

(

19,793

)

(

60,582

)

40,789

Teva

Pharmaceutical

Finance

Netherlands

III

.............

.00

Quarterly

Goldman

Sachs

Bank

USA

12/20/28

BB-

USD

2,000

(

22,878

)

(

53,421

)

30,543

CCO

Holdings

LLC

....

.00

Quarterly

Bank

America

06/20/29

BB-

USD

2,000

154,840

170,980

(

16,140

)

CMA

CGM

........

.00

Quarterly

Goldman

Sachs

International

06/20/29

EUR

177

24,546

20,783

3,763

EQM

Midstream

Partners

..............

.00

Quarterly

Morgan

Chase

Bank

06/20/29

BB-

USD

2,000

392,480

376,192

16,288

Oracle

Corp.

.........

.00

Quarterly

Bank

America

06/20/29

BBB

USD

5,000

138,522

126,594

11,928

Royal

Caribbean

Cruises

Ltd.

.............

.00

Quarterly

Bank

America

06/20/29

BB+

USD

2,000

331,699

319,734

11,965

Sunrise

HoldCo

.00

Quarterly

Bank

America

06/20/29

EUR

624

71,676

63,144

8,532

Sunrise

HoldCo

.00

Quarterly

Deutsche

Bank

06/20/29

EUR

364

41,772

35,890

5,882

Sunrise

HoldCo

.00

Quarterly

Goldman

Sachs

International

06/20/29

EUR

988

113,448

121,147

(

7,699

)

Uber

Technologies,

Inc.

.00

Quarterly

Barclays

Bank

plc

06/20/29

USD

2,000

385,878

365,398

20,480

Virgin

Media

Finance

plc

.00

Quarterly

Bank

America

06/20/29

B-

EUR

2,380

135,077

84,465

50,612

Vistra

Operations

Co.

LLC

.00

Quarterly

Barclays

Bank

plc

06/20/29

USD

2,000

324,871

313,223

11,648

Vistra

Operations

Co.

LLC

.00

Quarterly

BNP

Paribas

06/20/29

USD

1,000

162,436

162,729

(

293

)

Vistra

Operations

Co.

LLC

.00

Quarterly

Goldman

Sachs

International

06/20/29

USD

1,000

162,436

154,573

7,863

Vistra

Operations

Co.

LLC

.00

Quarterly

Goldman

Sachs

International

06/20/29

USD

1,000

162,436

161,273

1,163

Ziggo

Bond

Co.

....

.00

Quarterly

Bank

America

06/20/29

B-

EUR

499

28,529

41,010

(

12,481

)

Ziggo

Bond

Co.

....

.00

Quarterly

Goldman

Sachs

International

06/20/29

B-

EUR

711

40,658

33,706

6,952

4,368,861

3,996,818

372,043

(a)

Using

the

rating

the

issuer

the

underlying

securities

the

index,

applicable,

provided

S&P

Global

Ratings.

(b)

The

maximum

potential

amount

the

Fund

may

pay

should

negative

credit

event

take

place

defined

under

the

terms

the

agreement.

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

(a)

The

Fund

receives

the

total

return

portfolio

long

positions

underlying the

total

return

swap.

The

Fund

pays

the

total

return

portfolio

short

positions

underlying

the

total

return

swap.

addition,

the

Fund

pays

receives

variable

rate

interest,

based

specified

benchmark.

The

benchmark

and

spread

are

determined

based

upon

the

country

and/or

currency

the

individual

underlying

positions.

The

following

are

the

specified

benchmarks

(plus

minus

range)

used

determining

the

variable

rate

interest:

OTC

Total

Return

Swaps

Reference

Entity

Payment

Frequency

Counterparty

(a)

Termination

Date

Net

Notional

Accrued

Unrealized

Appreciation

(Depreciation)

Net

Value

Reference

Entity

Gross

Notional

Amount

Net

Asset

Percentage

Equity

Securities

Long/Short

...

Monthly

JPMorgan

Chase

Bank

(b)

05/10/24

(

3,160,119

)

55,516

(c)

(

3,110,669

)

Monthly

Merrill

Lynch

International

Co.

(d)

02/15/28

(

315,350

)

(

5,967

)

(e)

(

321,345

)

Monthly

Merrill

Lynch

International

Co.

(f)

02/15/28

565,116

(

66,160

)

(g)

502,083

(

16,611

)

(

2,929,931

)

(b)

(d)

(f)

Range:

15-182

basis

points

15-20

basis

points

20-100

basis

points

Benchmarks:

USD

Overnight

Bank

Funding

Rate

(OBFR01)

USD

Overnight

Bank

Funding

Rate

(OBFR01)

EUR

Euro

Short

Term

Rate

(ESTR)

GBP

Sterling

Overnight

Index

Average

(SONIA)

USD

Overnight

Bank

Funding

Rate

(OBFR01)

(b)

JPMChase

(c)

Amount

includes

$6,066

net

dividends

and

financing

fees.

(d)

Merill

(e)

Amount

includes

$28

net

dividends

and

financing

fees.

(f)

Merill

Lynch

(g)

Amount

includes

$(3,127)

net

dividends

and

financing

fees.

The

following

table

represents

the

individual

long

and

short

positions

and

values

equity

securities

underlying

the

total

return

swap

with

JPMorgan

Chase

Bank

NA,

period

end,

termination

date

May

10,

2024:

Value

Basket

Value

Reference

Entity

—

Long

Common

Stocks

United

States

BankUnited,

Inc.

..........

1,627

43,490

(

)

Customers

Bancorp,

Inc.

....

996

45,487

(

)

Eagle

Bancorp,

Inc.

........

1,722

31,840

(

)

New

York

Community

Bancorp,

Inc.

.................

12,350

32,728

(

)

153,545

Reference

Entity

—

Short

Investment

Companies

United

States

iShares

iBoxx

High

Yield

Corporate

Bond

ETF

.....

(

10,534

)

(

803,639

)

iShares

iBoxx

Investment

Grade

Corporate

Bond

ETF

(

7,392

)

(

776,086

)

Value

Basket

Value

United

States

(continued)

Vanguard

Intermediate-Term

Corporate

Bond

ETF

.....

(

16,935

)

(

1,327,027

)

(

2,906,752

)

Common

Stocks

United

States

Atlantic

Union

Bankshares

Corp.

(

796

)

(

25,289

)

Brookline

Bancorp,

Inc.

.....

(

2,825

)

(

23,447

)

Community

Bank

System,

Inc.

(

552

)

(

23,857

)

CVB

Financial

Corp.

.......

(

1,903

)

(

31,095

)

Dime

Community

Bancshares,

Inc.

.................

(

108

)

(

1,966

)

First

Bancorp

............

(

848

)

(

25,788

)

Glacier

Bancorp,

Inc.

.......

(

646

)

(

23,372

)

Independent

Bank

Group,

Inc.

(

904

)

(

33,665

)

OceanFirst

Financial

Corp.

...

(

1,781

)

(

26,288

)

Provident

Financial

Services,

Inc.

.................

(

2,608

)

(

38,285

)

Sandy

Spring

Bancorp,

Inc.

(

1,837

)

(

37,567

)

SouthState

Corp.

.........

(

346

)

(

26,192

)

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

Fair

Value

Hierarchy

Period

End

Various

inputs

are

used

determining

the

fair

value

financial

instruments.

These

inputs

valuation

techniques

are

categorized

into

fair

value

hierarchy

consisting

three

broad

levels

for

financial

reporting

purposes

follows:

Level

—

Unadjusted

price

quotations

active

markets/exchanges

for

identical

assets

liabilities

that

the

Fund

has

the

ability

access;

Level

—

Other

observable

inputs

(including,

but

not

limited

to,

quoted

prices

for

similar

assets

liabilities

markets

that

are

active,

quoted

prices

for

identical

similar

assets

liabilities

markets

that

are

not

active,

inputs

other

than

quoted

prices

that

are

observable

for

the

assets

liabilities

(such

interest

rates,

yield

curves,

volatilities,

prepayment

speeds,

loss

severities,

credit

risks

and

default

rates)

other

market-corroborated

inputs);

and

Level

—

Unobservable

inputs

based

the

best

information

available

the

circumstances,

the

extent

observable

inputs

are

not

available

(including

the

Valuation

Committee's

assumptions

used

determining

the

fair

value

financial

instruments).

The

hierarchy

gives

the

highest

priority

unadjusted

quoted

prices

active

markets

for

identical

assets

liabilities

(Level

measurements)

and

the

lowest

priority

unobservable

inputs

(Level

measurements).

Accordingly,

the

degree

judgment

exercised

determining

fair

value

greatest

for

instruments

categorized

Level

The

inputs

used

measure

fair

value

may

fall

into

different

levels

the

fair

value

hierarchy.

such

cases,

for

disclosure

purposes,

the

fair

value

hierarchy

classification

determined

based

the

lowest

level

input

that

significant

the

fair

value

measurement

its

entirety.

Investments

classified

within

Level

have

significant

unobservable

inputs

used

the

Valuation

Committee

determining

the

price

for

Fair

Valued

Investments.

Level

investments

include

equity

debt

issued

privately

held

companies

funds.

There

may

not

secondary

market,

and/

there

are

limited

number

investors.

The

categorization

value

determined

for

financial

instruments

based

the

pricing

transparency

the

financial

instruments

and

not

necessarily

indication

the

risks

associated

with

investing

those

securities.

For

information

about

the

Fund’s

policy

regarding

valuation

financial

instruments,

refer

its

most

recent

financial

statements.

Value

Basket

Value

United

States

(continued)

Valley

National

Bancorp

.....

(

5,799

)

(

40,651

)

(

357,462

)

Net

Value

Reference

Entity

—

JPMorgan

Chase

Bank

............................

(

3,110,669

)

The

following

table

represents

the

individual

long

and

short

positions

and

values

equity

securities

underlying

the

total

return

swap

with

Merrill

Lynch

International

Co.,

period

end,

termination

date

February

15,

2028:

Value

Basket

Value

Reference

Entity

—

Long

Investment

Companies

United

States

SPDR

S&P

Oil

Gas

Exploration

Production

ETF

.......

3,500

530,005

293

Reference

Entity

—

Short

Common

Stocks

United

States

Air

Transport

Services

Group,

Inc.

.................

(

15,000

)

(

192,300

)

(

106

)

Brandywine

Realty

Trust

....

(

5,000

)

(

22,700

)

(

)

Frontier

Communications

Parent,

Inc.

.................

(

27,500

)

(

636,350

)

(

352

)

(

851,350

)

Net

Value

Reference

Entity

—

Merrill

Lynch

International

Co.

.....................

(

321,345

)

The

following

table

represents

the

individual

long

and

short

positions

and

values

equity

securities

underlying

the

total

return

swap

with

Merrill

Lynch

International

Co.,

period

end,

termination

date

February

15,

2028:

Value

Basket

Value

Reference

Entity

—

Long

Common

Stocks

Belgium

Liberty

Global

Ltd.

Class

...

60,802

966,448

534

Germany

ADLER

Group

.........

6,390

1,193

United

Kingdom

EnQuest

plc

.............

2,969,582

621,161

343

Synthomer

plc

...........

282,917

915,595

506

1,536,756

United

States

Altice

USA,

Inc.

Class

....

59,932

115,669

Total

Reference

Entity

—

Long

............

2,620,066

Reference

Entity

—

Short

Investment

Companies

United

States

iShares

iBoxx

High

Yield

Corporate

Bond

ETF

.....

(

8,080

)

(

616,423

)

(

341

)

iShares

Preferred

Income

Securities

ETF

.........

(

48,500

)

(

1,501,560

)

(

830

)

(

2,117,983

)

Net

Value

Reference

Entity

—

Merrill

Lynch

International

Co.

.....................

502,083

The

following

reference

rates,

and

their

values

period

end,

are

used

for

security

descriptions:

Reference

Index

Reference

Rate

1-day

EFFR

.........................................

Effective

Federal

Funds

Rate

.33

1-day

SOFR

.........................................

Secured

Overnight

Financing

Rate

.33

Schedule

Investments

(unaudited)

(continued)

April

30,

2024

BlackRock

Global

Long/Short

Credit

Fund

The

following

table

summarizes

the

Fund’s

financial

instruments

categorized

the

fair

value

hierarchy.

The

breakdown

the

Fund's

financial

instruments

into

major

BlackRock Funds IV NPORT-PBlackRock Global Long/Short Credit Fund (Apr 2024 report)