BlackRock
Sustainable
Balanced
Portfolio
2
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
September
30,
2022
Security
Par
(000)
Par
(000)
Value
Asset-Backed
Securities
ACE
Securities
Corp.
Home
Equity
Loan
Trust,
Series
2007-HE4,
Class
A2A,
(LIBOR
USD
1
Month
+
0.26%),
3.34%,
05/25/37
(a)
...
USD
45
$
8,983
Argent
Mortgage
Loan
Trust,
Series
2005-W1,
Class
A2,
(LIBOR
USD
1
Month
+
0.48%),
3.56%,
05/25/35
(a)
................
55
47,870
BCMSC
Trust
(a)
Series
2000-A,
Class
A3,
7.83%,
06/15/30
49
7,386
Series
2000-A,
Class
A4,
8.29%,
06/15/30
35
5,629
Bear
Stearns
Asset-Backed
Securities
I
Trust
(a)
Series
2004-HE7,
Class
M2,
(LIBOR
USD
1
Month
+
1.73%),
4.81%,
08/25/34
...
1
612
Series
2007-HE2,
Class
22A,
(LIBOR
USD
1
Month
+
0.14%),
3.22%,
03/25/37
..
12
11,397
Series
2007-HE2,
Class
23A,
(LIBOR
USD
1
Month
+
0.14%),
3.22%,
03/25/37
..
22
20,693
Series
2007-HE3,
Class
1A3,
(LIBOR
USD
1
Month
+
0.25%),
3.33%,
04/25/37
..
40
52,358
Carrington
Mortgage
Loan
Trust,
Series
2006-
NC4,
Class
A3,
(LIBOR
USD
1
Month
+
0.16%),
3.24%,
10/25/36
(a)
..........
34
33,022
Citigroup
Mortgage
Loan
Trust
(a)
Series
2007-AHL2,
Class
A3B,
(LIBOR
USD
1
Month
+
0.20%),
3.28%,
05/25/37
..
142
104,205
Series
2007-AHL2,
Class
A3C,
(LIBOR
USD
1
Month
+
0.27%),
3.35%,
05/25/37
..
65
47,278
Conseco
Finance
Corp.
Series
1998-8,
Class
A1,
6.28%,
09/01/30
3
2,944
Series
2001-D,
Class
B1,
(LIBOR
USD
1
Month
+
2.50%),
5.32%,
11/15/32
(a)
..
20
21,246
Conseco
Finance
Securitizations
Corp.,
Series
2000-5,
Class
A6,
7.96%,
05/01/31
.....
37
12,266
Countrywide
Asset-Backed
Certificates,
Series
2006-SPS1,
Class
A,
(LIBOR
USD
1
Month
+
0.22%),
3.30%,
12/25/25
(a)
.........
—
(b)
681
Credit
Suisse
First
Boston
Mortgage
Securities
Corp.,
Series
2001-MH29,
Class
B1,
8.10%,
09/25/31
(a)
.....................
17
16,179
CWHEQ
Home
Equity
Loan
Trust
Series
2006-S3,
Class
A4,
6.02%,
01/25/29
(c)
...................
2
3,173
Series
2006-S5,
Class
A5,
6.16%,
06/25/35
2
2,859
CWHEQ
Revolving
Home
Equity
Loan
Resuritization
Trust
(a)(d)
Series
2006-RES,
Class
4Q1B,
(LIBOR
USD
1
Month
+
0.30%),
3.12%,
12/15/33
7
7,164
Series
2006-RES,
Class
5B1A,
(LIBOR
USD
1
Month
+
0.19%),
3.01%,
05/15/35
..
18
17,466
CWHEQ
Revolving
Home
Equity
Loan
Trust
(a)
Series
2005-B,
Class
2A,
(LIBOR
USD
1
Month
+
0.18%),
3.00%,
05/15/35
...
4
3,952
Series
2006-H,
Class
1A,
(LIBOR
USD
1
Month
+
0.15%),
2.97%,
11/15/36
...
8
7,382
First
Franklin
Mortgage
Loan
Trust,
Series
2006-FFH1,
Class
M2,
(LIBOR
USD
1
Month
+
0.60%),
3.68%,
01/25/36
(a)
....
41
37,039
GSAMP
Trust
(a)
Series
2007-H1,
Class
A1B,
(LIBOR
USD
1
Month
+
0.20%),
3.28%,
01/25/47
...
22
11,727
Series
2007-HS1,
Class
M6,
(LIBOR
USD
1
Month
+
3.38%),
6.46%,
02/25/47
...
25
23,443
Home
Equity
Asset
Trust,
Series
2007-1,
Class
2A3,
(LIBOR
USD
1
Month
+
0.30%),
3.38%,
05/25/37
(a)
................
31
22,702
Security
Par
(000)
Par
(000)
Value
Asset-Backed
Securities
(continued)
IXIS
Real
Estate
Capital
Trust,
Series
2007-
HE1,
Class
A4,
(LIBOR
USD
1
Month
+
0.23%),
3.31%,
05/25/37
(a)
..........
USD
627
$
161,424
Lehman
ABS
Manufactured
Housing
Contract
Trust
Series
2001-B,
Class
M1,
6.63%,
04/15/40
(a)
56
56,174
Series
2002-A,
Class
C,
0.00%,
06/15/33
4
3,783
Long
Beach
Mortgage
Loan
Trust
(a)
Series
2006-5,
Class
2A3,
(LIBOR
USD
1
Month
+
0.30%),
3.38%,
06/25/36
...
21
10,668
Series
2006-7,
Class
2A3,
(LIBOR
USD
1
Month
+
0.32%),
3.40%,
08/25/36
...
14
5,719
Merrill
Lynch
First
Franklin
Mortgage
Loan
Trust,
Series
2007-2,
Class
A2C,
(LIBOR
USD
1
Month
+
0.24%),
3.56%,
05/25/37
(a)
18
14,046
Morgan
Stanley
ABS
Capital
I,
Inc.
Trust,
Series
2005-HE1,
Class
A2MZ,
(LIBOR
USD
1
Month
+
0.60%),
3.68%,
12/25/34
(a)
78
66,618
Oakwood
Mortgage
Investors,
Inc.,
Series
2001-D,
Class
A4,
6.93%,
09/15/31
(a)
...
9
5,279
Option
One
Mortgage
Loan
Trust
Series
2007-CP1,
Class
2A3,
(LIBOR
USD
1
Month
+
0.21%),
3.29%,
03/25/37
(a)
.
40
30,759
Series
2007-FXD1,
Class
2A1,
5.87%,
01/25/37
(c)
...................
32
26,941
Series
2007-FXD2,
Class
1A1,
5.82%,
03/25/37
(c)
...................
37
30,883
Origen
Manufactured
Housing
Contract
Trust,
Series
2007-B,
Class
A1,
(LIBOR
USD
1
Month
+
1.20%),
4.02%,
10/15/37
(a)(d)
...
12
11,958
Ownit
Mortgage
Loan
Trust,
Series
2006-2,
Class
A2C,
6.50%,
01/25/37
(c)
........
27
22,407
SG
Mortgage
Securities
Trust,
Series
2006-
FRE2,
Class
A2C,
(LIBOR
USD
1
Month
+
0.32%),
3.40%,
07/25/36
(a)
..........
16
3,573
Total
Asset-Backed
Securities
—
0.3%
(Cost:
$1,181,106)
..............................
979,888
Shares
Shares
Common
Stocks
Aerospace
&
Defense
—
0.4%
BAE
Systems
plc
...................
1,424
12,512
Curtiss-Wright
Corp.
.................
119
16,560
HEICO
Corp.,
Class
A
................
3,328
381,455
L3Harris
Technologies,
Inc.
............
55
11,431
Saab
AB,
Class
B
..................
10,595
330,107
Textron,
Inc.
......................
11,212
653,211
Thales
SA
........................
1,607
177,082
1,582,358
Air
Freight
&
Logistics
—
0.2%
Deutsche
Post
AG
(Registered)
.........
7,830
235,994
DSV
A/S
.........................
702
82,238
Expeditors
International
of
Washington,
Inc.
.
701
61,905
FedEx
Corp.
......................
254
37,711
United
Parcel
Service,
Inc.,
Class
B
......
1,741
281,241
699,089
Airlines
—
0.0%
(e)
Deutsche
Lufthansa
AG
(Registered)
.....
14,747
84,768
Qantas
Airways
Ltd.
.................
12,537
40,233
125,001
BlackRock
Sustainable
Balanced
Portfolio
3
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Shares
Shares
Value
Auto
Components
—
0.1%
Fuyao
Glass
Industry
Group
Co.
Ltd.,
Class
H
(d)
(f)
............................
18,800
$
75,383
Hankook
Tire
&
Technology
Co.
Ltd.
......
1,543
37,662
HL
Mando
Co.
Ltd.
..................
1,832
56,047
Hu
Lane
Associate,
Inc.
..............
19,000
98,831
Hyundai
Mobis
Co.
Ltd.
...............
273
36,037
303,960
Automobiles
—
1.4%
Bayerische
Motoren
Werke
AG
.........
9,635
653,037
BYD
Co.
Ltd.,
Class
A
................
100
3,523
BYD
Co.
Ltd.,
Class
H
...............
9,000
221,720
Ford
Otomotiv
Sanayi
A/S
.............
6,287
110,752
General
Motors
Co.
.................
9,056
290,607
Honda
Motor
Co.
Ltd.
................
29,200
633,809
Mercedes-Benz
Group
AG
.............
20,040
1,013,363
Renault
SA
(e)
......................
1,195
32,332
Tesla,
Inc.
(e)
.......................
9,760
2,588,840
Tofas
Turk
Otomobil
Fabrikasi
A/S
.......
4,221
20,823
Volkswagen
AG
....................
265
43,187
XPeng,
Inc.,
ADR
(e)
.................
636
7,600
5,619,593
Banks
—
2.9%
Australia
&
New
Zealand
Banking
Group
Ltd.
32,439
474,868
Banco
Bilbao
Vizcaya
Argentaria
SA
......
121,175
543,572
Banco
Bradesco
SA
(e)
................
3,121
9,465
Bancolombia
SA
...................
4,068
27,444
Bank
of
America
Corp.
...............
74,376
2,246,155
Bank
of
Nova
Scotia
(The)
(g)
...........
28,540
1,357,424
Bank
of
Queensland
Ltd.
..............
2,559
10,660
Bank
Polska
Kasa
Opieki
SA
...........
4,536
55,089
China
Merchants
Bank
Co.
Ltd.,
Class
H
...
56,500
261,474
Citigroup,
Inc.
.....................
17,749
739,601
Credicorp
Ltd.
.....................
621
76,259
Erste
Group
Bank
AG
................
1,428
31,305
Grupo
Financiero
Banorte
SAB
de
CV,
Class
O
38,360
245,803
JPMorgan
Chase
&
Co.
..............
23,163
2,420,534
KeyCorp
.........................
15,722
251,866
National
Australia
Bank
Ltd.
............
13,982
258,886
Royal
Bank
of
Canada
...............
2,578
232,111
Societe
Generale
SA
................
756
14,951
Swedbank
AB,
Class
A
...............
1,407
18,468
UniCredit
SpA
.....................
35,932
363,779
US
Bancorp
......................
20,623
831,519
Wells
Fargo
&
Co.
..................
4,258
171,257
Westpac
Banking
Corp.
..............
83,716
1,107,563
11,750,053
Beverages
—
1.8%
Ambev
SA
.......................
119,554
344,632
Anheuser-Busch
InBev
SA/NV
..........
8,641
391,408
Arca
Continental
SAB
de
CV
...........
4,068
29,291
Brown-Forman
Corp.,
Class
B
..........
9,766
650,123
China
Resources
Beer
Holdings
Co.
Ltd.
...
6,000
41,620
Coca-Cola
Co.
(The)
................
31,031
1,738,357
Coca-Cola
Europacific
Partners
plc
.......
6,326
269,614
Coca-Cola
Femsa
SAB
de
CV
..........
19,697
114,781
Davide
Campari-Milano
NV
............
20,641
182,622
Fomento
Economico
Mexicano
SAB
de
CV
.
4,429
27,780
Heineken
NV
.....................
1,758
153,528
PepsiCo,
Inc.
.....................
14,754
2,408,738
Pernod
Ricard
SA
..................
3,281
601,913
Suntory
Beverage
&
Food
Ltd.
..........
2,600
92,532
Tsingtao
Brewery
Co.
Ltd.,
Class
H
.......
2,000
18,856
7,065,795
Security
Shares
Shares
Value
Biotechnology
—
0.9%
Amgen,
Inc.
......................
2,724
$
613,990
BeiGene
Ltd.
(e)
....................
900
9,280
BeiGene
Ltd.,
ADR
(e)
................
657
88,577
Biogen,
Inc.
(e)
.....................
1,012
270,204
BioMarin
Pharmaceutical,
Inc.
(e)
.........
2,159
183,018
Celltrion,
Inc.
......................
411
49,882
CSL
Ltd.
.........................
1,405
255,523
Exelixis,
Inc.
(e)
.....................
2,182
34,214
Genmab
A/S
(e)
.....................
621
199,778
Gilead
Sciences,
Inc.
................
6,977
430,411
Incyte
Corp.
(e)
.....................
2,468
164,467
Innovent
Biologics,
Inc.
(d)(e)(f)
............
30,000
92,199
Legend
Biotech
Corp.,
ADR
(e)
...........
2,341
95,513
Moderna,
Inc.
(e)
....................
557
65,865
PharmaEngine,
Inc.
.................
4,000
14,796
Regeneron
Pharmaceuticals,
Inc.
(e)
.......
618
425,722
Shanghai
Junshi
Biosciences
Co.
Ltd.,
Class
H
(d)(e)(f)(g)
.......................
12,600
39,842
United
Therapeutics
Corp.
(e)
............
397
83,124
Vertex
Pharmaceuticals,
Inc.
(e)
..........
1,437
416,069
3,532,474
Building
Products
—
0.2%
Belimo
Holding
AG
(Registered)
.........
264
97,098
Fortune
Brands
Home
&
Security,
Inc.
.....
305
16,376
Geberit
AG
(Registered)
..............
22
9,434
Lixil
Corp.
........................
2,200
32,280
Owens
Corning
....................
7,512
590,518
ROCKWOOL
A/S,
Class
B
............
34
5,363
751,069
Capital
Markets
—
0.8%
B3
SA
-
Brasil
Bolsa
Balcao
............
3,736
9,108
Bank
of
New
York
Mellon
Corp.
(The)
.....
37,781
1,455,324
Deutsche
Bank
AG
(Registered)
.........
59,157
437,997
Deutsche
Boerse
AG
................
625
102,454
Macquarie
Group
Ltd.
................
7,891
769,848
S&P
Global,
Inc.
...................
26
7,939
UBS
Group
AG
(Registered)
...........
41,010
594,972
3,377,642
Chemicals
—
0.8%
Allied
Supreme
Corp.
................
2,000
20,814
Croda
International
plc
...............
1,521
108,636
DuPont
de
Nemours,
Inc.
.............
166
8,366
Givaudan
SA
(Registered)
.............
373
1,126,834
Israel
Corp.
Ltd.
....................
21
8,060
LG
Chem
Ltd.
.....................
964
355,943
Linde
plc
(g)
.......................
159
42,865
Methanex
Corp.
....................
813
25,896
Nitto
Denko
Corp.
..................
800
43,317
Novozymes
A/S,
Class
B
..............
8,865
445,485
Sika
AG
(Registered)
................
3,038
610,613
Sumitomo
Chemical
Co.
Ltd.
...........
71,600
246,275
Wacker
Chemie
AG
.................
600
61,684
3,104,788
Commercial
Services
&
Supplies
—
0.0%
ISS
A/S
(e)
........................
626
9,650
Sohgo
Security
Services
Co.
Ltd.
........
300
7,549
Tetra
Tech,
Inc.
....................
1,102
141,640
158,839
Communications
Equipment
—
0.1%
Accton
Technology
Corp.
.............
2,000
17,059
Arcadyan
Technology
Corp.
............
7,000
20,895
BYD
Electronic
International
Co.
Ltd.
......
5,000
11,948
BlackRock
Sustainable
Balanced
Portfolio
4
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Shares
Shares
Value
Communications
Equipment
(continued)
Cisco
Systems,
Inc.
.................
2,763
$
110,520
Juniper
Networks,
Inc.
...............
6,971
182,083
Nokia
OYJ
.......................
22,535
96,744
Telefonaktiebolaget
LM
Ericsson,
Class
B
..
12,155
71,052
510,301
Construction
&
Engineering
—
0.4%
Ackermans
&
van
Haaren
NV
..........
2,236
283,714
AECOM
.........................
5,161
352,858
Bouygues
SA
.....................
5,006
130,950
COMSYS
Holdings
Corp.
.............
2,600
44,117
Daewoo
Engineering
&
Construction
Co.
Ltd.
(e)
7,009
19,951
Eiffage
SA
.......................
1,183
94,868
EXEO
Group,
Inc.
..................
7,200
104,095
HDC
Hyundai
Development
Co-Engineering
&
Construction
....................
575
4,123
JGC
Holdings
Corp.
.................
800
9,925
Kandenko
Co.
Ltd.
..................
800
4,599
Obayashi
Corp.
....................
10,400
66,747
Samsung
Engineering
Co.
Ltd.
(e)
.........
1,768
27,832
Shimizu
Corp.
.....................
13,300
65,024
Toda
Corp.
.......................
1,400
7,202
Vinci
SA
.........................
2,790
225,602
1,441,607
Construction
Materials
—
0.0%
James
Hardie
Industries
plc,
CDI
........
3,193
62,719
Consumer
Finance
—
0.8%
Ally
Financial,
Inc.
(g)
.................
14,168
394,295
American
Express
Co.
...............
12,216
1,648,061
Capital
One
Financial
Corp.
............
5,742
529,240
Lufax
Holding
Ltd.,
ADR
..............
2,005
5,093
Synchrony
Financial
.................
16,479
464,543
3,041,232
Containers
&
Packaging
—
0.0%
Avery
Dennison
Corp.
................
91
14,806
WestRock
Co.
.....................
2,564
79,202
94,008
Diversified
Consumer
Services
—
0.2%
Benesse
Holdings,
Inc.
...............
1,900
28,289
H&R
Block,
Inc.
....................
13,318
566,548
Service
Corp.
International
............
1,070
61,782
YDUQS
Participacoes
SA
.............
4,422
11,886
668,505
Diversified
Financial
Services
—
0.3%
Berkshire
Hathaway,
Inc.,
Class
B
(e)
......
3,637
971,152
FirstRand
Ltd.
.....................
4,449
14,852
Groupe
Bruxelles
Lambert
NV
..........
1,695
118,540
Investor
AB,
Class
B
.................
3,413
49,800
Voya
Financial,
Inc.
.................
3,357
203,098
1,357,442
Diversified
Telecommunication
Services
—
0.5%
AT&T,
Inc.
........................
461
7,072
BCE,
Inc.
(g)
.......................
4,048
169,733
Nippon
Telegraph
&
Telephone
Corp.
.....
62,800
1,693,861
1,870,666
Electric
Utilities
—
0.9%
Acciona
SA
.......................
1,001
175,932
Centrais
Eletricas
Brasileiras
SA
.........
1,288
10,286
Contact
Energy
Ltd.
.................
11,217
46,962
CPFL
Energia
SA
...................
26,929
168,532
Edison
International
.................
24,279
1,373,706
Security
Shares
Shares
Value
Electric
Utilities
(continued)
Electricite
de
France
SA
..............
10,832
$
125,624
Elia
Group
SA/NV
..................
2,392
281,469
Enel
SpA
........................
110,650
453,801
Energisa
SA
......................
2,497
19,432
Hydro
One
Ltd.
(d)(f)
..................
39,580
967,903
NextEra
Energy,
Inc.
................
1,327
104,050
SSE
plc
.........................
3,363
56,788
Terna
-
Rete
Elettrica
Nazionale
.........
2,178
13,265
3,797,750
Electrical
Equipment
—
0.2%
ABB
Ltd.
(Registered)
................
12,670
327,132
Bizlink
Holding,
Inc.
.................
24,000
210,824
Legrand
SA
......................
3,560
230,186
Signify
NV
(d)(f)
.....................
4,288
110,362
878,504
Electronic
Equipment,
Instruments
&
Components
—
0.5%
Azbil
Corp.
.......................
800
20,854
Chroma
ATE,
Inc.
...................
32,000
180,043
Delta
Electronics,
Inc.
................
47,000
373,327
E
Ink
Holdings,
Inc.
.................
18,000
118,835
FLEXium
Interconnect,
Inc.
(e)
...........
41,000
111,957
Genius
Electronic
Optical
Co.
Ltd.
.......
4,000
43,261
Omron
Corp.
......................
14,400
659,769
Shimadzu
Corp.
....................
700
18,365
Simplo
Technology
Co.
Ltd.
............
22,000
182,025
Sinbon
Electronics
Co.
Ltd.
............
2,000
16,612
Spectris
plc
.......................
5,310
160,457
Sunny
Optical
Technology
Group
Co.
Ltd.
..
900
8,553
1,894,058
Energy
Equipment
&
Services
—
0.1%
Schlumberger
NV
..................
12,534
449,970
Worley
Ltd.
.......................
1,787
14,569
464,539
Entertainment
—
0.0%
NetEase,
Inc.
.....................
1,000
15,089
NHN
Corp.
(e)
......................
198
2,944
Studio
Dragon
Corp.
(e)
...............
201
9,235
27,268
Equity
Real
Estate
Investment
Trusts
(REITs)
—
1.1%
American
Tower
Corp.
...............
568
121,950
Brixmor
Property
Group,
Inc.
...........
589
10,879
Crown
Castle,
Inc.
..................
9,238
1,335,353
Digital
Realty
Trust,
Inc.
..............
990
98,188
Equinix,
Inc.
......................
1,437
817,423
Equity
Residential
..................
1,190
79,992
Essex
Property
Trust,
Inc.
.............
77
18,652
GPT
Group
(The)
...................
2,727
6,712
Klepierre
SA
(e)
.....................
2,607
45,323
Lamar
Advertising
Co.,
Class
A
.........
514
42,400
Prologis,
Inc.
......................
6,904
701,446
Segro
plc
........................
50,195
418,820
Simon
Property
Group,
Inc.
(g)
...........
5,272
473,162
Stockland
........................
81,782
171,155
Tritax
Big
Box
REIT
plc
...............
22,643
34,170
Warehouses
De
Pauw
CVA
............
2,480
60,910
4,436,535
Food
&
Staples
Retailing
—
0.4%
BIM
Birlesik
Magazalar
A/S
............
7,506
46,967
Cia
Brasileira
de
Distribuicao
...........
1,792
6,451
Coles
Group
Ltd.
...................
2,682
28,275
Cosmos
Pharmaceutical
Corp.
..........
900
88,991
BlackRock
Sustainable
Balanced
Portfolio
5
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Shares
Shares
Value
Food
&
Staples
Retailing
(continued)
Costco
Wholesale
Corp.
..............
912
$
430,710
George
Weston
Ltd.
.................
294
30,782
Lawson,
Inc.
......................
5,200
170,122
Migros
Ticaret
A/S
(e)
.................
18,199
99,094
Shoprite
Holdings
Ltd.
(g)
..............
3,282
39,183
Tesco
plc
........................
3,397
7,796
Tsuruha
Holdings,
Inc.
...............
14,300
837,262
1,785,633
Food
Products
—
0.8%
Associated
British
Foods
plc
...........
18,052
252,234
BRF
SA
(e)
........................
1,755
4,194
Chocoladefabriken
Lindt
&
Spruengli
AG
...
17
164,293
Kellogg
Co.
.......................
166
11,564
Kuala
Lumpur
Kepong
Bhd.
............
3,200
14,254
Marfrig
Global
Foods
SA
..............
27,242
50,046
Mondelez
International,
Inc.,
Class
A
......
16,437
901,241
Nestle
SA
(Registered)
...............
13,750
1,487,163
Nissin
Foods
Holdings
Co.
Ltd.
.........
2,300
159,873
Nomad
Foods
Ltd.
(e)
.................
12,176
172,899
Sao
Martinho
SA
...................
12,912
60,965
3,278,726
Health
Care
Equipment
&
Supplies
—
1.0%
Align
Technology,
Inc.
(e)
...............
898
185,985
Angelalign
Technology,
Inc.
(d)(f)
..........
400
3,817
Boston
Scientific
Corp.
(e)
..............
43,393
1,680,611
Edwards
Lifesciences
Corp.
(e)
..........
7,707
636,829
IDEXX
Laboratories,
Inc.
(e)
.............
816
265,853
Medtronic
plc
.....................
16,230
1,310,572
4,083,667
Health
Care
Providers
&
Services
—
1.7%
Alfresa
Holdings
Corp.
...............
600
6,993
AmerisourceBergen
Corp.
.............
1,555
210,438
Cigna
Corp.
......................
3,693
1,024,697
CVS
Health
Corp.
..................
16,523
1,575,798
Elevance
Health,
Inc.
................
1,034
469,684
Fleury
SA
........................
25,397
83,380
Humana,
Inc.
.....................
1,172
568,643
Qualicorp
Consultoria
e
Corretora
de
Seguros
SA
..........................
10,931
16,515
Quest
Diagnostics,
Inc.
...............
238
29,200
UnitedHealth
Group,
Inc.
..............
5,900
2,979,736
6,965,084
Hotels,
Restaurants
&
Leisure
—
1.1%
Aristocrat
Leisure
Ltd.
................
56,679
1,195,167
Booking
Holdings,
Inc.
(e)
..............
346
568,551
Boyd
Gaming
Corp.
(g)
................
814
38,787
Chipotle
Mexican
Grill,
Inc.
(e)
...........
90
135,248
Domino's
Pizza,
Inc.
.................
92
28,538
Expedia
Group,
Inc.
(e)
................
1,510
141,472
Flight
Centre
Travel
Group
Ltd.
(e)
........
4,543
41,131
InterContinental
Hotels
Group
plc
........
2,610
125,703
International
Game
Technology
plc
(g)
......
941
14,868
Marriott
International,
Inc.,
Class
A
.......
1,767
247,627
Resorttrust,
Inc.
....................
400
6,407
Travel
+
Leisure
Co.
.................
29,696
1,013,228
Trip.com
Group
Ltd.
(e)
................
550
14,861
Trip.com
Group
Ltd.,
ADR
(e)
............
4,785
130,679
Wyndham
Hotels
&
Resorts,
Inc.
........
134
8,221
Yum
China
Holdings,
Inc.
(g)
............
8,248
390,378
Yum!
Brands,
Inc.
..................
4,116
437,695
4,538,561
Security
Shares
Shares
Value
Household
Durables
—
0.1%
Arcelik
A/S
(g)
......................
7,398
$
26,734
Barratt
Developments
plc
.............
64,397
243,383
Bellway
plc
.......................
1,445
27,219
Mohawk
Industries,
Inc.
(e)
.............
450
41,036
338,372
Household
Products
—
0.7%
Colgate-Palmolive
Co.
...............
23,504
1,651,156
Procter
&
Gamble
Co.
(The)
...........
10,213
1,289,391
2,940,547
Independent
Power
and
Renewable
Electricity
Producers
—
0.1%
Atlantica
Sustainable
Infrastructure
plc
(g)
...
3,586
94,312
Clearway
Energy,
Inc.,
Class
C
.........
1,832
58,349
Drax
Group
plc
....................
19,545
130,038
Encavis
AG
.......................
734
13,119
Innergex
Renewable
Energy,
Inc.
........
865
10,889
306,707
Industrial
Conglomerates
—
0.8%
3M
Co.
..........................
138
15,249
Doosan
Co.
Ltd.
...................
515
28,799
General
Electric
Co.
.................
11,876
735,243
Honeywell
International,
Inc.
...........
4,786
799,118
Siemens
AG
(Registered)
.............
12,531
1,224,816
Smiths
Group
plc
...................
16,668
277,639
3,080,864
Insurance
—
1.9%
Ageas
SA/NV
.....................
286
10,431
AIA
Group
Ltd.
....................
201,200
1,675,172
Aon
plc,
Class
A
...................
68
18,215
AXA
SA
.........................
6,696
146,193
Brighthouse
Financial,
Inc.
(e)
...........
645
28,006
Direct
Line
Insurance
Group
plc
.........
25,231
52,056
Lincoln
National
Corp.
...............
7,986
350,665
Manulife
Financial
Corp.
..............
58,819
923,152
Marsh
&
McLennan
Cos.,
Inc.
..........
8,285
1,236,868
Meritz
Fire
&
Marine
Insurance
Co.
Ltd.
....
174
3,562
MetLife,
Inc.
......................
25,933
1,576,208
Ping
An
Insurance
Group
Co.
of
China
Ltd.,
Class
H
.......................
48,000
239,462
Swiss
Life
Holding
AG
(Registered)
.......
771
340,637
T&D
Holdings,
Inc.
..................
1,200
11,406
Talanx
AG
........................
531
18,803
Tokio
Marine
Holdings,
Inc.
............
11,000
195,504
Travelers
Cos.,
Inc.
(The)
.............
5,601
858,073
7,684,413
Interactive
Media
&
Services
—
2.3%
AfreecaTV
Co.
Ltd.
.................
355
15,516
Alphabet,
Inc.,
Class
A
(e)
..............
30,333
2,901,352
Alphabet,
Inc.,
Class
C
(e)
..............
23,340
2,244,141
Auto
Trader
Group
plc
(d)(f)
.............
43,254
245,297
Baidu,
Inc.,
Class
A
(e)
................
22,500
331,227
Joyy,
Inc.,
ADR
....................
1,094
28,444
Kakao
Corp.
......................
3,103
122,101
Kuaishou
Technology
(d)(e)(f)
.............
14,300
91,722
Meta
Platforms,
Inc.,
Class
A
(e)
..........
12,160
1,649,869
NAVER
Corp.
.....................
1,047
139,477
REA
Group
Ltd.
....................
384
27,950
Scout24
SE
(d)(f)
....................
2,828
141,712
SEEK
Ltd.
.......................
569
6,916
Tencent
Holdings
Ltd.
................
34,700
1,172,038
9,117,762
BlackRock
Sustainable
Balanced
Portfolio
6
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Shares
Shares
Value
Internet
&
Direct
Marketing
Retail
—
1.3%
Alibaba
Group
Holding
Ltd.
(e)
...........
80,500
$
803,337
Amazon.com,
Inc.
(e)
.................
27,722
3,132,586
Coupang,
Inc.
(e)(g)
...................
11,441
190,722
eBay,
Inc.
........................
15,810
581,966
JD.com,
Inc.,
Class
A
................
7,800
196,780
Meituan
Dianping
(d)(e)(f)
................
12,600
264,807
ZOZO,
Inc.
.......................
300
6,005
5,176,203
IT
Services
—
2.2%
Accenture
plc,
Class
A
...............
8,071
2,076,668
Capgemini
SE
.....................
301
48,190
CGI,
Inc.,
Class
A
(e)
.................
1,111
83,638
Cognizant
Technology
Solutions
Corp.,
Class
A
26,973
1,549,329
DXC
Technology
Co.
(e)
...............
346
8,470
EPAM
Systems,
Inc.
(e)
................
234
84,752
Fujitsu
Ltd.
.......................
300
32,896
Gartner,
Inc.
(e)
.....................
3,881
1,073,834
Genpact
Ltd.
......................
9,599
420,148
Mastercard,
Inc.,
Class
A
..............
2,784
791,603
Nomura
Research
Institute
Ltd.
.........
12,900
315,060
Otsuka
Corp.
.....................
4,400
137,225
Paychex,
Inc.
.....................
1,869
209,720
Visa,
Inc.,
Class
A
(g)
.................
11,439
2,032,138
8,863,671
Leisure
Products
—
0.1%
Sankyo
Co.
Ltd.
....................
700
21,194
Sega
Sammy
Holdings,
Inc.
............
12,300
167,520
188,714
Life
Sciences
Tools
&
Services
—
0.6%
Agilent
Technologies,
Inc.
(g)
............
13,708
1,666,207
Mettler-Toledo
International,
Inc.
(e)
.......
450
487,854
Pharmaron
Beijing
Co.
Ltd.,
Class
H
(d)(f)
....
1,500
7,257
Thermo
Fisher
Scientific,
Inc.
...........
426
216,063
WuXi
AppTec
Co.
Ltd.,
Class
H
(d)(f)
.......
9,800
78,270
Wuxi
Biologics
Cayman,
Inc.
(d)(e)(f)
........
24,000
142,868
2,598,519
Machinery
—
0.3%
Amada
Co.
Ltd.
....................
62,400
424,002
ANDRITZ
AG
.....................
4,888
206,859
DMG
Mori
Co.
Ltd.
..................
1,200
13,705
Ebara
Corp.
......................
1,600
52,136
Hiwin
Technologies
Corp.
.............
2,000
11,074
PACCAR,
Inc.
.....................
1,228
102,771
Rational
AG
......................
89
43,105
Spirax-Sarco
Engineering
plc
...........
381
43,797
Techtronic
Industries
Co.
Ltd.
...........
12,500
119,277
Timken
Co.
(The)
(g)
..................
216
12,753
Toyota
Industries
Corp.
...............
200
9,554
Trelleborg
AB,
Class
B
...............
660
12,382
Valmet
OYJ
......................
7,754
156,757
VAT
Group
AG
(d)(f)
...................
342
69,402
Wartsila
OYJ
Abp
...................
13,113
83,765
Yaskawa
Electric
Corp.
...............
600
17,267
1,378,606
Marine
—
0.1%
AP
Moller
-
Maersk
A/S,
Class
A
.........
58
102,472
AP
Moller
-
Maersk
A/S,
Class
B
.........
178
323,467
Evergreen
Marine
Corp.
Taiwan
Ltd.
......
8,000
36,475
Grindrod
Shipping
Holdings
Ltd.
.........
445
10,649
Kuehne
+
Nagel
International
AG
(Registered)
375
76,362
Security
Shares
Shares
Value
Marine
(continued)
Orient
Overseas
International
Ltd.
.......
1,500
$
26,105
575,530
Media
—
0.7%
Comcast
Corp.,
Class
A
..............
38,915
1,141,377
Fox
Corp.,
Class
A
..................
46,636
1,430,793
Fox
Corp.,
Class
B
(g)
.................
376
10,716
Fuji
Media
Holdings,
Inc.
..............
1,400
10,282
Nippon
Television
Holdings,
Inc.
.........
1,000
8,013
2,601,181
Metals
&
Mining
—
0.6%
Anglo
American
plc
.................
32,782
983,552
Norsk
Hydro
ASA
...................
2,747
14,740
POSCO
Holdings,
Inc.
...............
557
81,248
Reliance
Steel
&
Aluminum
Co.
.........
255
44,475
South32
Ltd.
......................
50,300
119,408
Steel
Dynamics,
Inc.
.................
282
20,008
Wheaton
Precious
Metals
Corp.
.........
37,330
1,208,796
2,472,227
Multiline
Retail
—
0.0%
J
Front
Retailing
Co.
Ltd.
..............
900
7,323
Macy's,
Inc.
......................
1,873
29,350
Shinsegae,
Inc.
....................
196
31,319
67,992
Multi-Utilities
—
0.3%
E.ON
SE
........................
65,858
505,972
Engie
SA
........................
61,658
709,677
1,215,649
Oil,
Gas
&
Consumable
Fuels
—
2.9%
Aker
BP
ASA
......................
4,559
130,864
Ampol
Ltd.
.......................
233
4,310
APA
Corp.
.......................
631
21,574
ARC
Resources
Ltd.
.................
11,082
133,095
Birchcliff
Energy
Ltd.
................
1,827
12,975
BP
plc
..........................
9,519
45,485
Chevron
Corp.
.....................
17,630
2,532,902
ConocoPhillips
....................
1,164
119,124
Crescent
Point
Energy
Corp.
...........
27,593
169,791
Devon
Energy
Corp.
.................
165
9,921
Enbridge,
Inc.
.....................
29,881
1,107,978
Enerplus
Corp.
....................
2,724
38,572
Eni
SpA
.........................
1,080
11,479
EOG
Resources,
Inc.
(g)
...............
3,526
393,960
EQT
Corp.
.......................
1,806
73,594
Equinor
ASA
......................
28,351
934,980
Exxon
Mobil
Corp.
..................
23,273
2,031,966
Gibson
Energy,
Inc.
(g)
................
1,047
16,652
Inpex
Corp.
.......................
26,900
250,899
Magnolia
Oil
&
Gas
Corp.,
Class
A
.......
691
13,689
Marathon
Oil
Corp.
..................
7,549
170,456
Marathon
Petroleum
Corp.
............
9,357
929,431
Murphy
Oil
Corp.
...................
233
8,195
NuVista
Energy
Ltd.
(e)
................
754
5,355
Occidental
Petroleum
Corp.
............
1,447
88,918
Ovintiv,
Inc.
.......................
601
27,662
Parex
Resources,
Inc.
...............
2,113
30,853
PBF
Energy,
Inc.,
Class
A
(e)
............
215
7,559
Phillips
66
........................
312
25,185
Pioneer
Natural
Resources
Co.
.........
242
52,400
Range
Resources
Corp.
..............
2,327
58,780
SK
Innovation
Co.
Ltd.
(e)
..............
997
98,800
TC
Energy
Corp.
(g)
..................
10,120
407,628
Tourmaline
Oil
Corp.
.................
7,146
371,384
BlackRock
Sustainable
Balanced
Portfolio
7
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Shares
Shares
Value
Oil,
Gas
&
Consumable
Fuels
(continued)
Turkiye
Petrol
Rafinerileri
A/S
(e)
.........
5,658
$
88,057
Valero
Energy
Corp.
(g)
................
1,703
181,966
Var
Energi
ASA
....................
6,077
19,745
Vermilion
Energy,
Inc.
................
4,002
85,669
Williams
Cos.,
Inc.
(The)
..............
13,832
396,010
Woodside
Energy
Group
Ltd.
...........
28,105
574,228
11,682,091
Paper
&
Forest
Products
—
0.0%
West
Fraser
Timber
Co.
Ltd.
...........
1,353
97,879
Personal
Products
—
0.4%
Estee
Lauder
Cos.,
Inc.
(The),
Class
A
....
961
207,480
LG
H&H
Co.
Ltd.
...................
38
16,656
L'Oreal
SA
.......................
143
45,723
Natura
&
Co.
Holding
SA
..............
3,188
8,747
Pola
Orbis
Holdings,
Inc.
..............
2,200
24,848
Unilever
plc
.......................
30,374
1,336,952
1,640,406
Pharmaceuticals
—
3.3%
Astellas
Pharma,
Inc.
................
16,300
215,931
Bristol-Myers
Squibb
Co.
..............
28,682
2,039,003
Eisai
Co.
Ltd.
.....................
600
32,195
Eli
Lilly
&
Co.
.....................
4,851
1,568,571
GSK
plc
.........................
3,031
43,776
H
Lundbeck
A/S
....................
2,344
7,513
Johnson
&
Johnson
.................
19,477
3,181,763
Merck
&
Co.,
Inc.
...................
20,129
1,733,510
Novartis
AG
(Registered)
.............
6,337
483,114
Novo
Nordisk
A/S,
Class
B
............
14,150
1,409,592
Ono
Pharmaceutical
Co.
Ltd.
...........
1,300
30,366
Pfizer,
Inc.
.......................
21,310
932,526
Roche
Holding
AG
..................
943
316,677
Santen
Pharmaceutical
Co.
Ltd.
.........
4,200
28,230
Takeda
Pharmaceutical
Co.
Ltd.
.........
51,300
1,332,148
Teva
Pharmaceutical
Industries
Ltd.,
ADR
(e)
.
16,078
129,749
13,484,664
Professional
Services
—
0.9%
Booz
Allen
Hamilton
Holding
Corp.
(g)
......
7,010
647,373
Experian
plc
......................
32,533
952,325
ManpowerGroup,
Inc.
................
483
31,245
Randstad
NV
.....................
230
9,927
Recruit
Holdings
Co.
Ltd.
.............
4,900
141,148
Robert
Half
International,
Inc.
...........
5,060
387,090
SMS
Co.
Ltd.
.....................
200
4,041
Teleperformance
...................
432
109,591
Wolters
Kluwer
NV
..................
11,586
1,128,171
3,410,911
Real
Estate
Management
&
Development
—
0.4%
Alony
Hetz
Properties
&
Investments
Ltd.
...
996
11,906
China
Resources
Land
Ltd.
............
28,000
109,673
City
Developments
Ltd.
...............
15,800
83,268
Country
Garden
Services
Holdings
Co.
Ltd.
.
23,000
33,580
Daiwa
House
Industry
Co.
Ltd.
..........
8,500
172,827
Jones
Lang
LaSalle,
Inc.
(e)
.............
169
25,531
LEG
Immobilien
SE
.................
1,541
91,982
Longfor
Group
Holdings
Ltd.
(d)
..........
2,500
7,166
Mitsubishi
Estate
Co.
Ltd.
.............
24,400
321,499
Mitsui
Fudosan
Co.
Ltd.
..............
38,400
731,519
Sun
Hung
Kai
Properties
Ltd.
...........
6,500
71,736
Tokyo
Tatemono
Co.
Ltd.
..............
500
7,114
Zillow
Group,
Inc.,
Class
A
(e)
...........
162
4,638
Security
Shares
Shares
Value
Real
Estate
Management
&
Development
(continued)
Zillow
Group,
Inc.,
Class
C
(e)
...........
627
$
17,939
1,690,378
Road
&
Rail
—
0.1%
JB
Hunt
Transport
Services,
Inc.
........
651
101,830
Knight-Swift
Transportation
Holdings,
Inc.
..
3,069
150,166
Landstar
System,
Inc.
................
447
64,533
Localiza
Rent
a
Car
SA
...............
2,219
25,056
Movida
Participacoes
SA
..............
1,958
4,497
Old
Dominion
Freight
Line,
Inc.
.........
776
193,046
Sankyu,
Inc.
......................
300
8,712
547,840
Semiconductors
&
Semiconductor
Equipment
—
2.3%
Advanced
Micro
Devices,
Inc.
(e)
.........
6,056
383,708
Advantest
Corp.
....................
3,000
138,542
Analog
Devices,
Inc.
.................
11,854
1,651,736
Applied
Materials,
Inc.
...............
13,276
1,087,703
ASML
Holding
NV
..................
1,233
510,806
Disco
Corp.
.......................
800
176,362
Formosa
Sumco
Technology
Corp.
.......
9,000
38,384
Foxsemicon
Integrated
Technology,
Inc.
....
3,000
17,341
Global
Unichip
Corp.
................
11,000
202,293
Intel
Corp.
.......................
45,600
1,175,112
Kinsus
Interconnect
Technology
Corp.
.....
10,000
28,970
KLA
Corp.
........................
181
54,776
Koh
Young
Technology,
Inc.
............
432
3,784
Lam
Research
Corp.
................
729
266,814
Lattice
Semiconductor
Corp.
(e)
..........
235
11,564
MediaTek,
Inc.
.....................
3,000
51,769
Nova
Ltd.
(e)
.......................
64
5,497
NVIDIA
Corp.
.....................
3,293
399,737
NXP
Semiconductors
NV
(g)
............
2,471
364,497
Parade
Technologies
Ltd.
.............
1,000
18,376
QUALCOMM,
Inc.
..................
5,177
584,897
Realtek
Semiconductor
Corp.
..........
14,000
118,189
RichWave
Technology
Corp.
...........
5,000
15,246
Silergy
Corp.
......................
1,000
13,042
Silicon
Laboratories,
Inc.
(e)
.............
485
59,868
Sino-American
Silicon
Products,
Inc.
......
10,000
40,850
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
92,000
1,219,496
Texas
Instruments,
Inc.
...............
1,516
234,647
Tokyo
Electron
Ltd.
.................
1,700
418,871
United
Microelectronics
Corp.
(e)
.........
1,000
1,119
9,293,996
Software
—
3.3%
Adobe,
Inc.
(e)
......................
6,060
1,667,712
Autodesk,
Inc.
(e)
....................
882
164,758
Cadence
Design
Systems,
Inc.
(e)
........
687
112,276
Check
Point
Software
Technologies
Ltd.
(e)
..
2,467
276,353
DocuSign,
Inc.
(e)
...................
916
48,979
Fair
Isaac
Corp.
(e)
...................
16
6,592
Intuit,
Inc.
........................
789
305,595
Manhattan
Associates,
Inc.
(e)(g)
..........
222
29,533
Microsoft
Corp.
....................
35,566
8,283,321
Nemetschek
SE
....................
919
43,622
Palo
Alto
Networks,
Inc.
(e)
.............
2,634
431,423
RingCentral,
Inc.,
Class
A
(e)
............
4,836
193,247
Salesforce,
Inc.
(e)
...................
4,703
676,480
SAP
SE
.........................
862
70,249
ServiceNow,
Inc.
(e)
..................
1,358
512,794
Workday,
Inc.,
Class
A
(e)
..............
3,970
604,313
13,427,247
BlackRock
Sustainable
Balanced
Portfolio
8
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Shares
Shares
Value
Specialty
Retail
—
1.3%
AutoNation,
Inc.
(e)
...................
125
$
12,734
Best
Buy
Co.,
Inc.
(g)
.................
4,755
301,182
Dogus
Otomotiv
Servis
ve
Ticaret
A/S
.....
1,052
5,505
Fast
Retailing
Co.
Ltd.
...............
100
52,994
Foschini
Group
Ltd.
(The)
(g)
............
2,038
13,246
Home
Depot,
Inc.
(The)
..............
9,766
2,694,830
Lowe's
Cos.,
Inc.
...................
9,206
1,728,979
Penske
Automotive
Group,
Inc.
.........
376
37,010
Shinsegae
International,
Inc.
...........
180
3,365
Ulta
Beauty,
Inc.
(e)
..................
927
371,903
5,221,748
Technology
Hardware,
Storage
&
Peripherals
—
3.2%
Advantech
Co.
Ltd.
.................
1,000
9,211
Apple,
Inc.
.......................
77,101
10,655,358
Dell
Technologies,
Inc.,
Class
C
.........
601
20,536
FUJIFILM
Holdings
Corp.
.............
1,400
63,945
Hewlett
Packard
Enterprise
Co.
.........
66,175
792,776
HP,
Inc.
.........................
21,776
542,658
Ricoh
Co.
Ltd.
.....................
4,500
32,950
Samsung
Electronics
Co.
Ltd.
..........
14,454
530,740
Wiwynn
Corp.
.....................
2,000
50,541
12,698,715
Textiles,
Apparel
&
Luxury
Goods
—
0.9%
ANTA
Sports
Products
Ltd.
............
21,400
224,631
Burberry
Group
plc
..................
2,641
52,755
Fulgent
Sun
International
Holding
Co.
Ltd.
..
6,000
29,921
Hermes
International
................
679
798,586
Kering
SA
........................
2,639
1,170,525
Li
Ning
Co.
Ltd.
....................
8,500
64,497
Lululemon
Athletica,
Inc.
(e)
.............
1,999
558,840
Makalot
Industrial
Co.
Ltd.
.............
30,000
172,486
Mavi
Giyim
Sanayi
ve
Ticaret
A/S,
Class
B
(d)(f)
1,800
6,964
Moncler
SpA
......................
4,177
170,524
NIKE,
Inc.,
Class
B
.................
1,340
111,381
Swatch
Group
AG
(The)
..............
1,209
271,540
3,632,650
Thrifts
&
Mortgage
Finance
—
0.0%
Essent
Group
Ltd.
..................
970
33,824
Radian
Group,
Inc.
..................
652
12,577
46,401
Trading
Companies
&
Distributors
—
0.6%
IMCD
NV
........................
1,166
138,243
ITOCHU
Corp.
....................
21,900
528,620
Marubeni
Corp.
....................
6,100
53,225
Mitsubishi
Corp.
....................
11,000
300,852
Mitsui
&
Co.
Ltd.
...................
50,900
1,083,141
Sumitomo
Corp.
...................
8,400
103,777
Travis
Perkins
plc
..................
611
5,245
United
Rentals,
Inc.
(e)
................
597
161,262
2,374,365
Transportation
Infrastructure
—
0.0%
Grupo
Aeroportuario
del
Centro
Norte
SAB
de
CV
..........................
891
5,605
Grupo
Aeroportuario
del
Pacifico
SAB
de
CV,
Class
B
.......................
3,415
43,240
Kamigumi
Co.
Ltd.
..................
5,000
92,314
141,159
Water
Utilities
—
0.1%
United
Utilities
Group
plc
..............
29,314
289,451
Security
Shares
Shares
Value
Wireless
Telecommunication
Services
—
0.3%
Freenet
AG
.......................
7,809
$
147,992
KDDI
Corp.
.......................
6,500
190,036
MTN
Group
Ltd.
....................
26,195
172,834
SK
Telecom
Co.
Ltd.
.................
6,355
224,355
Tele2
AB,
Class
B
..................
41,554
358,593
1,093,810
Total
Common
Stocks
—
51.7%
(Cost:
$242,013,195)
.............................
208,648,134
Par
(000)
Par
(000)
Corporate
Bonds
Air
Freight
&
Logistics
—
0.1%
United
Parcel
Service,
Inc.
4.45%,
04/01/30
.................
USD
390
378,835
6.20%,
01/15/38
.................
15
16,221
395,056
Airlines
—
0.0%
American
Airlines
Pass-Through
Trust
Series
2015-2,
Class
B,
4.40%,
09/22/23
69
66,804
Series
2016-1,
Class
B,
5.25%,
01/15/24
41
39,002
Series
2017-1,
Class
B,
4.95%,
02/15/25
14
13,124
Series
2019-1,
Class
B,
3.85%,
02/15/28
57
46,211
United
Airlines
Pass-Through
Trust,
Series
2019-2,
Class
B,
3.50%,
05/01/28
.....
34
28,252
193,393
Automobiles
—
0.1%
Honda
Motor
Co.
Ltd.,
2.53%,
03/10/27
...
280
253,214
Banks
—
3.8%
Banco
Santander
SA
2.75%,
05/28/25
.................
200
182,870
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
2.00%),
4.18%,
03/24/28
(a)
..............
400
360,449
Bank
of
America
Corp.
(LIBOR
USD
3
Month
+
0.79%),
3.00%,
12/20/23
(a)
...................
31
30,835
7.25%,
10/15/25
.................
75
78,007
(LIBOR
USD
3
Month
+
0.87%),
2.46%,
10/22/25
(a)
...................
537
502,784
(LIBOR
USD
3
Month
+
0.81%),
3.37%,
01/23/26
(a)
...................
68
64,429
(SOFR
+
1.15%),
1.32%,
06/19/26
(a)
...
186
165,093
(SOFR
+
1.01%),
1.20%,
10/24/26
(a)
...
131
114,305
(SOFR
+
0.96%),
1.73%,
07/22/27
(a)
...
390
334,592
(LIBOR
USD
3
Month
+
1.58%),
3.82%,
01/20/28
(a)
...................
78
71,794
(SOFR
+
1.05%),
2.55%,
02/04/28
(a)
...
379
329,753
(LIBOR
USD
3
Month
+
1.51%),
3.71%,
04/24/28
(a)
...................
89
80,985
(SOFR
+
1.58%),
4.38%,
04/27/28
(a)
...
240
224,889
(LIBOR
USD
3
Month
+
1.37%),
3.59%,
07/21/28
(a)
...................
39
35,224
(SOFR
+
1.06%),
2.09%,
06/14/29
(a)
...
335
272,233
(LIBOR
USD
3
Month
+
1.31%),
4.27%,
07/23/29
(a)
...................
145
132,210
(LIBOR
USD
3
Month
+
1.21%),
3.97%,
02/07/30
(a)
...................
107
95,245
(LIBOR
USD
3
Month
+
1.19%),
2.88%,
10/22/30
(a)
...................
58
47,545
Bank
of
Montreal,
1.25%,
09/15/26
......
450
384,744
BlackRock
Sustainable
Balanced
Portfolio
9
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Par
(000)
Par
(000)
Value
Banks
(continued)
Bank
of
Nova
Scotia
(The)
1.05%,
03/02/26
.................
USD
490
$
427,045
1.30%,
09/15/26
.................
500
428,856
2.95%,
03/11/27
.................
500
452,637
Barclays
plc
(a)
(SOFR
+
2.71%),
2.85%,
05/07/26
.....
370
335,871
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.05%),
2.28%,
11/24/27
...............
230
192,630
Citigroup,
Inc.
4.40%,
06/10/25
.................
94
91,361
(SOFR
+
0.69%),
2.01%,
01/25/26
(a)
...
538
494,388
(SOFR
+
1.28%),
3.07%,
02/24/28
(a)
...
460
409,975
(LIBOR
USD
3
Month
+
1.39%),
3.67%,
07/24/28
(a)
...................
266
239,474
(LIBOR
USD
3
Month
+
1.19%),
4.08%,
04/23/29
(a)
...................
16
14,482
HSBC
Holdings
plc
(a)
(SOFR
+
1.43%),
3.00%,
03/10/26
.....
370
342,105
(SOFR
+
1.29%),
1.59%,
05/24/27
.....
490
409,515
(SOFR
+
1.10%),
2.25%,
11/22/27
.....
570
478,908
(LIBOR
USD
3
Month
+
1.53%),
4.58%,
06/19/29
....................
301
268,306
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
3.25%),
4.70%
(h)
.....................
200
142,033
(SOFR
+
1.19%),
2.80%,
05/24/32
.....
490
360,033
ING
Groep
NV,
(SOFR
+
1.83%),
4.02%,
03/28/28
(a)
....................
470
426,748
JPMorgan
Chase
&
Co.
(3
Month
CME
Term
SOFR
+
1.59%),
2.01%,
03/13/26
(a)
..............
278
254,591
(SOFR
+
1.85%),
2.08%,
04/22/26
(a)
...
25
22,777
2.95%,
10/01/26
.................
80
73,322
(LIBOR
USD
3
Month
+
1.34%),
3.78%,
02/01/28
(a)
...................
127
116,438
(SOFR
+
1.17%),
2.95%,
02/24/28
(a)
...
266
235,203
(SOFR
+
1.89%),
2.18%,
06/01/28
(a)
...
6
5,103
(SOFR
+
1.99%),
4.85%,
07/25/28
(a)
...
130
124,823
(LIBOR
USD
3
Month
+
1.33%),
4.45%,
12/05/29
(a)
...................
13
11,898
Lloyds
Banking
Group
plc
(a)
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.00%),
2.44%,
02/05/26
...............
730
670,697
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.80%),
3.75%,
03/18/28
...............
360
323,597
(LIBOR
USD
3
Month
+
1.21%),
3.57%,
11/07/28
....................
240
210,479
Mitsubishi
UFJ
Financial
Group,
Inc.
1.41%,
07/17/25
.................
200
179,288
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.75%),
1.54%,
07/20/27
(a)
..............
490
417,432
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.83%),
2.34%,
01/19/28
(a)
..............
380
328,288
Mizuho
Financial
Group,
Inc.
(a)
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.90%),
2.65%,
05/22/26
...............
460
422,945
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.75%),
1.55%,
07/09/27
...............
500
425,223
Security
Par
(000)
Par
(000)
Value
Banks
(continued)
NatWest
Group
plc
(a)
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
0.90%),
1.64%,
06/14/27
...............
USD
640
$
537,314
(US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
2.27%),
5.52%,
09/30/28
...............
650
616,898
Royal
Bank
of
Canada,
0.88%,
01/20/26
...
390
338,673
Santander
UK
Group
Holdings
plc,
(SOFR
+
0.79%),
1.09%,
03/15/25
(a)
..........
237
218,817
Sumitomo
Mitsui
Financial
Group,
Inc.,
3.78%,
03/09/26
.....................
116
110,105
Toronto-Dominion
Bank
(The)
Series
FXD,
1.95%,
01/12/27
........
470
408,909
3.20%,
03/10/32
.................
400
327,796
Washington
Mutual
Escrow
Bonds
(e)(i)(j)
0.00%,
11/06/09
.................
100
1,000
0.00%,
09/29/17
.................
400
—
15,403,969
Beverages
—
1.0%
Anheuser-Busch
InBev
Worldwide,
Inc.,
4.00%,
04/13/28
.....................
343
325,835
Coca-Cola
Co.
(The),
2.25%,
01/05/32
....
290
235,646
Coca-Cola
Femsa
SAB
de
CV,
1.85%,
09/01/32
490
356,108
Diageo
Capital
plc
1.38%,
09/29/25
.................
470
426,145
2.00%,
04/29/30
.................
780
625,018
Keurig
Dr
Pepper,
Inc.
2.25%,
03/15/31
.................
400
311,202
4.05%,
04/15/32
.................
470
412,200
PepsiCo,
Inc.
3.60%,
02/18/28
.................
240
226,740
3.90%,
07/18/32
.................
1,230
1,136,996
4,055,890
Biotechnology
—
0.6%
AbbVie,
Inc.,
2.95%,
11/21/26
.........
180
164,908
Amgen,
Inc.
2.20%,
02/21/27
.................
200
177,584
3.00%,
02/22/29
.................
270
236,116
4.20%,
02/22/52
.................
15
11,759
4.88%,
03/01/53
.................
30
26,391
Regeneron
Pharmaceuticals,
Inc.,
1.75%,
09/15/30
.....................
2,440
1,846,733
2,463,491
Building
Products
—
0.4%
Carlisle
Cos.,
Inc.,
2.20%,
03/01/32
......
730
543,225
Carrier
Global
Corp.,
2.24%,
02/15/25
....
10
9,344
Johnson
Controls
International
plc
3.90%,
02/14/26
.................
870
834,417
2.00%,
09/16/31
.................
100
75,485
Owens
Corning,
3.40%,
08/15/26
.......
110
101,317
1,563,788
Capital
Markets
—
2.3%
Ares
Capital
Corp.
2.15%,
07/15/26
.................
400
335,229
2.88%,
06/15/27
.................
290
242,264
Blackstone
Private
Credit
Fund,
4.00%,
01/15/29
.....................
129
103,335
Deutsche
Bank
AG
1.69%,
03/19/26
.................
300
261,088
(SOFR
+
1.32%),
2.55%,
01/07/28
(a)
...
150
121,776
FactSet
Research
Systems,
Inc.
2.90%,
03/01/27
.................
790
714,889
3.45%,
03/01/32
.................
60
48,894
BlackRock
Sustainable
Balanced
Portfolio
10
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Par
(000)
Par
(000)
Value
Capital
Markets
(continued)
FS
KKR
Capital
Corp.
2.63%,
01/15/27
.................
USD
230
$
185,715
3.25%,
07/15/27
.................
290
238,858
Goldman
Sachs
Group,
Inc.
(The)
(SOFR
+
0.51%),
0.66%,
09/10/24
(a)
...
21
19,990
3.75%,
02/25/26
.................
37
35,046
3.50%,
11/16/26
.................
27
24,953
(SOFR
+
0.80%),
1.43%,
03/09/27
(a)
...
565
485,736
(SOFR
+
0.82%),
1.54%,
09/10/27
(a)
...
1,640
1,385,542
(SOFR
+
1.11%),
2.64%,
02/24/28
(a)
....
886
768,728
(LIBOR
USD
3
Month
+
1.51%),
3.69%,
06/05/28
(a)
...................
206
186,270
(SOFR
+
1.28%),
2.62%,
04/22/32
(a)
...
66
51,159
Moody's
Corp.,
3.25%,
01/15/28
........
69
62,378
Morgan
Stanley
(SOFR
+
1.15%),
2.72%,
07/22/25
(a)
...
57
54,070
(SOFR
+
1.67%),
4.68%,
07/17/26
(a)
...
325
316,460
3.13%,
07/27/26
.................
4
3,683
3.63%,
01/20/27
.................
281
261,393
(SOFR
+
0.88%),
1.59%,
05/04/27
(a)
...
96
82,952
(SOFR
+
0.86%),
1.51%,
07/20/27
(a)
...
81
68,987
(SOFR
+
1.00%),
2.48%,
01/21/28
(a)
...
280
244,720
(LIBOR
USD
3
Month
+
1.34%),
3.59%,
07/22/28
(a)
...................
35
31,486
(LIBOR
USD
3
Month
+
1.14%),
3.77%,
01/24/29
(a)
...................
407
366,032
(LIBOR
USD
3
Month
+
1.63%),
4.43%,
01/23/30
(a)
...................
357
328,176
(SOFR
+
1.14%),
2.70%,
01/22/31
(a)
...
355
287,823
(SOFR
+
1.03%),
1.79%,
02/13/32
(a)
...
130
95,007
(SOFR
+
1.02%),
1.93%,
04/28/32
(a)
...
24
17,521
(SOFR
+
1.20%),
2.51%,
10/20/32
(a)
...
56
42,797
(SOFR
+
2.08%),
4.89%,
07/20/33
(a)
...
310
287,234
Morgan
Stanley
Domestic
Holdings,
Inc.,
3.80%,
08/24/27
................
62
57,277
Nasdaq,
Inc.,
1.65%,
01/15/31
.........
470
349,973
Nomura
Holdings,
Inc.,
3.00%,
01/22/32
...
344
260,293
Prospect
Capital
Corp.,
3.36%,
11/15/26
...
190
156,127
S&P
Global,
Inc.
(d)
2.45%,
03/01/27
.................
280
250,979
4.75%,
08/01/28
.................
125
121,998
2.90%,
03/01/32
.................
210
175,201
3.90%,
03/01/62
.................
3
2,268
9,134,307
Chemicals
—
0.1%
Celanese
US
Holdings
LLC
5.90%,
07/05/24
.................
85
83,822
6.17%,
07/15/27
.................
35
33,124
Dow
Chemical
Co.
(The),
2.10%,
11/15/30
.
39
29,875
DuPont
de
Nemours,
Inc.,
4.49%,
11/15/25
.
148
145,374
292,195
Commercial
Services
&
Supplies
—
0.2%
RELX
Capital,
Inc.
3.50%,
03/16/23
.................
115
114,262
4.00%,
03/18/29
.................
108
99,182
3.00%,
05/22/30
.................
593
500,296
Republic
Services,
Inc.
2.90%,
07/01/26
.................
42
38,583
3.95%,
05/15/28
.................
47
43,981
2.30%,
03/01/30
.................
20
16,422
1.75%,
02/15/32
.................
100
74,521
887,247
Security
Par
(000)
Par
(000)
Value
Communications
Equipment
—
0.2%
Motorola
Solutions,
Inc.
4.60%,
05/23/29
.................
USD
162
$
149,179
2.30%,
11/15/30
.................
610
458,352
2.75%,
05/24/31
.................
130
99,215
706,746
Consumer
Finance
—
0.2%
American
Express
Co.,
2.55%,
03/04/27
...
199
177,251
General
Motors
Financial
Co.,
Inc.,
3.70%,
05/09/23
.....................
16
15,884
Synchrony
Financial
4.50%,
07/23/25
.................
2
1,907
3.70%,
08/04/26
.................
22
20,107
Toyota
Motor
Credit
Corp.
3.05%,
03/22/27
.................
270
248,636
1.90%,
04/06/28
.................
290
246,739
710,524
Distributors
—
0.0%
Genuine
Parts
Co.,
1.75%,
02/01/25
.....
150
138,473
Diversified
Financial
Services
—
0.2%
Block
Financial
LLC,
3.88%,
08/15/30
....
420
358,694
National
Rural
Utilities
Cooperative
Finance
Corp.
1.00%,
06/15/26
.................
590
515,731
1.65%,
06/15/31
.................
40
29,975
904,400
Diversified
Telecommunication
Services
—
0.4%
Deutsche
Telekom
International
Finance
BV
3.60%,
01/19/27
(d)
................
380
356,249
9.25%,
06/01/32
.................
210
257,624
Koninklijke
KPN
NV,
8.38%,
10/01/30
....
140
154,398
Lumen
Technologies,
Inc.,
5.38%,
06/15/29
(d)
720
535,078
Verizon
Communications,
Inc.
4.13%,
03/16/27
.................
96
91,682
2.10%,
03/22/28
.................
53
44,743
4.33%,
09/21/28
.................
115
108,206
2.85%,
09/03/41
.................
50
33,338
1,581,318
Electric
Utilities
—
0.5%
Avangrid,
Inc.
3.20%,
04/15/25
.................
620
586,311
3.80%,
06/01/29
.................
140
124,407
Baltimore
Gas
&
Electric
Co.,
2.25%,
06/15/31
18
14,369
Edison
International,
3.13%,
11/15/22
....
1
998
Eversource
Energy
Series
U,
1.40%,
08/15/26
..........
60
51,993
2.90%,
03/01/27
.................
270
245,014
3.38%,
03/01/32
.................
220
185,078
Exelon
Corp.
2.75%,
03/15/27
(d)
................
19
17,023
5.10%,
06/15/45
.................
10
8,908
4.10%,
03/15/52
(d)
................
7
5,400
NSTAR
Electric
Co.
3.25%,
05/15/29
.................
280
251,479
3.95%,
04/01/30
.................
300
278,994
Public
Service
Electric
&
Gas
Co.
3.65%,
09/01/28
.................
80
73,832
2.05%,
08/01/50
.................
31
16,814
Southern
California
Edison
Co.
Series
E,
3.70%,
08/01/25
..........
26
25,000
Series
20C,
1.20%,
02/01/26
........
60
52,801
Series
A,
4.20%,
03/01/29
..........
33
30,515
1,968,936
BlackRock
Sustainable
Balanced
Portfolio
11
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Par
(000)
Par
(000)
Value
Electronic
Equipment,
Instruments
&
Components
—
0.4%
Allegion
US
Holding
Co.,
Inc.,
3.55%,
10/01/27
USD
15
$
13,378
CDW
LLC,
3.57%,
12/01/31
..........
66
51,386
Flex
Ltd.,
3.75%,
02/01/26
...........
290
269,483
Keysight
Technologies,
Inc.
4.60%,
04/06/27
.................
620
603,247
3.00%,
10/30/29
.................
720
609,118
1,546,612
Energy
Equipment
&
Services
—
0.1%
Baker
Hughes
Holdings
LLC,
4.49%,
05/01/30
80
73,804
CGG
SA,
8.75%,
04/01/27
(d)
..........
200
168,000
241,804
Entertainment
—
0.1%
Electronic
Arts,
Inc.
4.80%,
03/01/26
.................
250
248,141
1.85%,
02/15/31
.................
122
94,036
342,177
Equity
Real
Estate
Investment
Trusts
(REITs)
—
1.6%
Alexandria
Real
Estate
Equities,
Inc.,
2.95%,
03/15/34
.....................
24
18,556
American
Tower
Corp.
5.00%,
02/15/24
.................
15
14,992
2.95%,
01/15/25
.................
8
7,569
1.30%,
09/15/25
.................
190
168,500
1.60%,
04/15/26
.................
26
22,663
1.45%,
09/15/26
.................
200
170,498
2.75%,
01/15/27
.................
200
176,859
3.65%,
03/15/27
.................
360
329,286
1.50%,
01/31/28
.................
200
159,907
3.95%,
03/15/29
.................
38
33,893
3.80%,
08/15/29
.................
47
41,229
2.10%,
06/15/30
.................
153
117,196
2.70%,
04/15/31
.................
200
156,942
Crown
Castle,
Inc.
3.70%,
06/15/26
.................
50
46,961
1.05%,
07/15/26
.................
1,278
1,079,525
2.90%,
03/15/27
.................
488
433,164
3.10%,
11/15/29
.................
171
143,708
3.30%,
07/01/30
.................
61
51,077
2.25%,
01/15/31
.................
28
21,381
2.50%,
07/15/31
.................
408
314,400
5.20%,
02/15/49
.................
18
15,495
Duke
Realty
LP
1.75%,
07/01/30
.................
23
17,913
1.75%,
02/01/31
.................
117
89,427
Equinix,
Inc.
1.00%,
09/15/25
.................
151
133,186
1.45%,
05/15/26
.................
160
138,544
Extra
Space
Storage
LP,
2.35%,
03/15/32
..
260
191,616
Iron
Mountain,
Inc.,
5.25%,
07/15/30
(d)
....
200
165,494
Life
Storage
LP,
3.88%,
12/15/27
.......
150
136,489
Prologis
LP,
1.63%,
03/15/31
..........
520
394,315
Realty
Income
Corp.
3.00%,
01/15/27
.................
5
4,547
3.25%,
01/15/31
.................
40
34,133
Uniti
Group
LP,
6.50%,
02/15/29
(d)
.......
490
328,402
VICI
Properties
LP
5.63%,
05/01/24
(d)
................
62
60,931
4.50%,
09/01/26
(d)
................
18
16,438
5.75%,
02/01/27
(d)
................
30
28,268
5.13%,
05/15/32
.................
280
248,192
Welltower,
Inc.
4.00%,
06/01/25
.................
300
287,549
4.25%,
04/01/26
.................
340
325,818
2.70%,
02/15/27
.................
410
366,275
Security
Par
(000)
Par
(000)
Value
Equity
Real
Estate
Investment
Trusts
(REITs)
(continued)
Weyerhaeuser
Co.,
3.38%,
03/09/33
.....
USD
20
$
16,199
6,507,537
Food
Products
—
0.9%
Bunge
Ltd.
Finance
Corp.
1.63%,
08/17/25
.................
380
341,828
3.75%,
09/25/27
.................
360
329,749
2.75%,
05/14/31
.................
480
377,581
Campbell
Soup
Co.,
4.15%,
03/15/28
....
170
159,532
General
Mills,
Inc.
3.20%,
02/10/27
.................
350
325,507
2.25%,
10/14/31
.................
1,100
860,586
Kellogg
Co.
3.40%,
11/15/27
.................
190
174,415
4.30%,
05/15/28
.................
850
805,519
2.10%,
06/01/30
.................
300
237,952
3,612,669
Gas
Utilities
—
0.0%
ONE
Gas,
Inc.,
4.25%,
09/01/32
........
45
41,072
Southwest
Gas
Corp.,
4.05%,
03/15/32
...
160
134,414
175,486
Health
Care
Providers
&
Services
—
0.8%
Cigna
Corp.,
4.38%,
10/15/28
.........
200
188,849
CVS
Health
Corp.,
3.75%,
04/01/30
......
180
160,064
Elevance
Health,
Inc.
3.65%,
12/01/27
.................
260
242,136
4.10%,
03/01/28
.................
53
50,128
HCA,
Inc.,
3.13%,
03/15/27
(d)
..........
160
141,646
Humana,
Inc.
4.50%,
04/01/25
.................
16
15,771
1.35%,
02/03/27
.................
490
412,672
3.70%,
03/23/29
.................
360
322,830
4.88%,
04/01/30
.................
57
54,673
Laboratory
Corp.
of
America
Holdings,
1.55%,
06/01/26
.....................
40
35,045
Quest
Diagnostics,
Inc.,
3.45%,
06/01/26
..
100
94,119
UnitedHealth
Group,
Inc.,
4.20%,
05/15/32
.
1,500
1,393,114
3,111,047
Hotels,
Restaurants
&
Leisure
—
0.1%
McDonald's
Corp.,
3.30%,
07/01/25
......
250
240,403
Starbucks
Corp.,
2.00%,
03/12/27
.......
250
219,166
459,569
Household
Products
—
0.0%
Colgate-Palmolive
Co.,
3.25%,
08/15/32
...
15
13,367
Industrial
Conglomerates
—
0.2%
3M
Co.,
3.05%,
04/15/30
............
410
348,548
Trane
Technologies
Luxembourg
Finance
SA,
3.80%,
03/21/29
................
560
502,997
851,545
Insurance
—
1.0%
Alleghany
Corp.,
3.63%,
05/15/30
.......
920
819,797
Ambac
Assurance
Corp.,
5.10%
(d)(h)
......
5
4,907
Arthur
J
Gallagher
&
Co.,
2.40%,
11/09/31
.
160
122,414
Hanover
Insurance
Group,
Inc.
(The),
4.50%,
04/15/26
.....................
1,030
992,433
Manulife
Financial
Corp.,
4.15%,
03/04/26
..
340
329,638
Marsh
&
McLennan
Cos.,
Inc.
4.38%,
03/15/29
.................
816
775,046
2.25%,
11/15/30
.................
541
429,264
Progressive
Corp.
(The)
2.50%,
03/15/27
.................
180
162,586
3.00%,
03/15/32
.................
75
62,474
Trinity
Acquisition
plc,
4.40%,
03/15/26
....
20
19,199
BlackRock
Sustainable
Balanced
Portfolio
12
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Par
(000)
Par
(000)
Value
Insurance
(continued)
Unum
Group,
4.13%,
06/15/51
.........
USD
270
$
179,914
Willis
North
America,
Inc.,
2.95%,
09/15/29
.
190
156,317
4,053,989
Internet
&
Direct
Marketing
Retail
—
0.0%
Amazon.com,
Inc.,
1.65%,
05/12/28
.....
170
144,399
eBay,
Inc.,
1.40%,
05/10/26
..........
87
76,114
220,513
IT
Services
—
0.7%
Automatic
Data
Processing,
Inc.,
1.70%,
05/15/28
.....................
1,510
1,292,061
Cogent
Communications
Group,
Inc.,
7.00%,
06/15/27
(d)
....................
250
235,114
Fidelity
National
Information
Services,
Inc.
1.15%,
03/01/26
.................
109
94,321
1.65%,
03/01/28
.................
58
47,638
Gartner,
Inc.,
4.50%,
07/01/28
(d)
........
185
165,427
International
Business
Machines
Corp.
2.20%,
02/09/27
.................
280
249,310
5.88%,
11/29/32
.................
22
22,568
4.00%,
06/20/42
.................
2
1,569
Mastercard,
Inc.
3.30%,
03/26/27
.................
100
93,927
2.00%,
11/18/31
.................
390
308,594
PayPal
Holdings,
Inc.
1.65%,
06/01/25
.................
48
44,185
2.65%,
10/01/26
.................
14
12,848
VeriSign,
Inc.,
2.70%,
06/15/31
........
180
139,635
2,707,197
Life
Sciences
Tools
&
Services
—
0.3%
Agilent
Technologies,
Inc.
3.05%,
09/22/26
.................
545
501,481
2.10%,
06/04/30
.................
97
76,056
2.30%,
03/12/31
.................
820
639,671
1,217,208
Machinery
—
0.4%
Cummins,
Inc.
0.75%,
09/01/25
.................
190
170,621
1.50%,
09/01/30
.................
420
323,494
Deere
&
Co.,
3.75%,
04/15/50
.........
17
13,868
IDEX
Corp.,
2.63%,
06/15/31
..........
980
780,617
Otis
Worldwide
Corp.,
2.57%,
02/15/30
...
23
18,812
Wabash
National
Corp.,
4.50%,
10/15/28
(d)
.
200
155,041
1,462,453
Media
—
0.1%
Interpublic
Group
of
Cos.,
Inc.
(The)
4.20%,
04/15/24
.................
15
14,689
4.65%,
10/01/28
.................
170
157,202
2.40%,
03/01/31
.................
32
24,302
Sirius
XM
Radio,
Inc.,
5.50%,
07/01/29
(d)
...
250
224,870
421,063
Metals
&
Mining
—
0.3%
Mineral
Resources
Ltd.,
8.50%,
05/01/30
(d)
.
250
241,600
Reliance
Steel
&
Aluminum
Co.
1.30%,
08/15/25
.................
190
169,513
2.15%,
08/15/30
.................
530
403,114
Steel
Dynamics,
Inc.
2.80%,
12/15/24
.................
35
33,435
2.40%,
06/15/25
.................
330
305,093
1,152,755
Multi-Utilities
—
0.2%
Consolidated
Edison
Co.
of
New
York,
Inc.
3.80%,
05/15/28
.................
100
93,522
Security
Par
(000)
Par
(000)
Value
Multi-Utilities
(continued)
Series
20A,
3.35%,
04/01/30
........
USD
430
$
377,794
2.40%,
06/15/31
.................
290
231,651
702,967
Oil,
Gas
&
Consumable
Fuels
—
0.9%
Cheniere
Corpus
Christi
Holdings
LLC
5.88%,
03/31/25
.................
76
76,304
5.13%,
06/30/27
.................
275
266,259
3.70%,
11/15/29
.................
970
841,199
Enterprise
Products
Operating
LLC
3.13%,
07/31/29
.................
93
80,107
2.80%,
01/31/30
.................
91
75,993
EQT
Corp.,
7.00%,
02/01/30
(c)
.........
430
443,717
Kinder
Morgan
Energy
Partners
LP
7.50%,
11/15/40
.................
16
16,512
5.00%,
08/15/42
.................
20
16,247
Kinder
Morgan,
Inc.,
4.80%,
02/01/33
....
67
60,121
MPLX
LP,
2.65%,
08/15/30
...........
511
400,329
ONEOK,
Inc.
5.85%,
01/15/26
.................
330
330,891
6.35%,
01/15/31
.................
540
529,463
Vermilion
Energy,
Inc.,
6.88%,
05/01/30
(d)
..
365
335,800
3,472,942
Paper
&
Forest
Products
—
0.0%
Georgia-Pacific
LLC
1.75%,
09/30/25
(d)
................
22
20,002
0.95%,
05/15/26
(d)
................
10
8,663
7.75%,
11/15/29
.................
20
22,673
Louisiana-Pacific
Corp.,
3.63%,
03/15/29
(d)
.
200
157,128
208,466
Pharmaceuticals
—
0.8%
Astrazeneca
Finance
LLC
1.20%,
05/28/26
.................
380
332,955
1.75%,
05/28/28
.................
390
327,773
Jazz
Securities
DAC,
4.38%,
01/15/29
(d)
...
200
172,750
Merck
&
Co.,
Inc.
2.15%,
12/10/31
.................
420
338,744
2.45%,
06/24/50
.................
30
18,461
2.75%,
12/10/51
.................
19
12,374
Novartis
Capital
Corp.,
2.20%,
08/14/30
...
855
713,243
Zoetis,
Inc.
4.50%,
11/13/25
.................
370
364,071
3.00%,
09/12/27
.................
110
98,892
2.00%,
05/15/30
.................
1,040
825,982
3,205,245
Professional
Services
—
0.3%
AMN
Healthcare,
Inc.,
4.00%,
04/15/29
(d)
..
285
240,144
ASGN,
Inc.,
4.63%,
05/15/28
(d)
.........
465
400,156
Thomson
Reuters
Corp.,
3.35%,
05/15/26
..
530
496,558
1,136,858
Real
Estate
Management
&
Development
—
0.1%
CBRE
Services,
Inc.
4.88%,
03/01/26
.................
170
167,710
2.50%,
04/01/31
.................
550
418,505
586,215
Road
&
Rail
—
0.1%
Canadian
National
Railway
Co.,
3.85%,
08/05/32
.....................
160
145,866
Penske
Truck
Leasing
Co.
LP
(d)
4.25%,
01/17/23
.................
40
39,922
2.70%,
03/14/23
.................
50
49,471
235,259
BlackRock
Sustainable
Balanced
Portfolio
13
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Par
(000)
Par
(000)
Value
Semiconductors
&
Semiconductor
Equipment
—
0.9%
Applied
Materials,
Inc.
1.75%,
06/01/30
.................
USD
200
$
157,844
4.35%,
04/01/47
.................
37
31,990
Broadcom
Corp.,
3.88%,
01/15/27
......
129
118,664
Broadcom,
Inc.
4.15%,
04/15/32
(d)
................
350
292,722
4.30%,
11/15/32
.................
210
176,323
Entegris
Escrow
Corp.,
5.95%,
06/15/30
(d)
..
250
228,177
Lam
Research
Corp.,
3.75%,
03/15/26
....
56
53,705
NVIDIA
Corp.
3.20%,
09/16/26
.................
752
715,196
1.55%,
06/15/28
.................
190
157,585
2.00%,
06/15/31
.................
590
463,930
3.50%,
04/01/50
.................
50
36,604
NXP
BV
3.88%,
06/18/26
.................
25
23,375
4.30%,
06/18/29
.................
172
154,746
3.40%,
05/01/30
.................
70
58,610
2.50%,
05/11/31
.................
189
141,372
Texas
Instruments,
Inc.
1.90%,
09/15/31
.................
97
76,612
3.65%,
08/16/32
.................
1,020
923,504
3,810,959
Software
—
1.1%
Adobe,
Inc.,
2.30%,
02/01/30
..........
1,010
839,078
Autodesk,
Inc.
3.50%,
06/15/27
.................
81
75,004
2.40%,
12/15/31
.................
54
42,002
Intuit,
Inc.
1.35%,
07/15/27
.................
860
728,587
1.65%,
07/15/30
.................
1,060
825,721
Roper
Technologies,
Inc.,
1.75%,
02/15/31
.
26
19,157
Salesforce,
Inc.,
3.05%,
07/15/61
.......
10
6,240
ServiceNow,
Inc.,
1.40%,
09/01/30
......
850
625,821
VMware,
Inc.
1.80%,
08/15/28
.................
1,154
914,867
4.70%,
05/15/30
.................
72
64,771
2.20%,
08/15/31
.................
193
140,478
4,281,726
Specialty
Retail
—
0.3%
Home
Depot,
Inc.
(The)
2.88%,
04/15/27
.................
110
101,694
1.50%,
09/15/28
.................
300
248,535
1.38%,
03/15/31
.................
31
23,318
1.88%,
09/15/31
.................
400
309,731
4.50%,
12/06/48
.................
17
14,880
Lowe's
Cos.,
Inc.
4.00%,
04/15/25
.................
170
166,557
3.35%,
04/01/27
.................
450
416,763
3.65%,
04/05/29
.................
93
83,810
1,365,288
Technology
Hardware,
Storage
&
Peripherals
—
0.5%
Apple,
Inc.
3.35%,
08/08/32
.................
500
445,310
3.95%,
08/08/52
.................
485
405,007
4.10%,
08/08/62
.................
40
32,791
HP,
Inc.
1.45%,
06/17/26
.................
430
370,693
3.00%,
06/17/27
.................
310
274,762
4.75%,
01/15/28
.................
5
4,692
4.00%,
04/15/29
.................
531
465,366
2.65%,
06/17/31
.................
6
4,403
Security
Par
(000)
Par
(000)
Value
Technology
Hardware,
Storage
&
Peripherals
(continued)
4.20%,
04/15/32
.................
USD
241
$
195,849
2,198,873
Thrifts
&
Mortgage
Finance
—
0.1%
BPCE
SA,
2.70%,
10/01/29
(d)
..........
274
226,857
Wireless
Telecommunication
Services
—
0.2%
Rogers
Communications,
Inc.,
3.80%,
03/15/32
(d)
....................
140
121,079
T-Mobile
USA,
Inc.
2.70%,
03/15/32
.................
820
639,983
5.65%,
01/15/53
.................
90
85,016
5.80%,
09/15/62
.................
75
69,723
915,801
Total
Corporate
Bonds
—
22.6%
(Cost:
$100,923,898)
.............................
91,097,394
Floating
Rate
Loan
Interests
Consumer
Finance
—
0.0%
Credito
Real
SAB
de
CV
SOFOM
ER,
Term
Loan
A,
(LIBOR
USD
3
Month
+
3.75%),
5.25%
,
02/21/23
(a)(j)
...............
7
119
Total
Floating
Rate
Loan
Interests
—
0.0%
(Cost:
$7,000)
.................................
119
Shares
Shares
Investment
Companies
iShares
MSCI
China
A
ETF
............
36,331
1,112,818
iShares
MSCI
India
ETF
(g)
.............
66,538
2,713,420
Total
Investment
Companies
—
1.0%
(Cost:
$4,386,174)
..............................
3,826,238
Par
(000)
Par
(000)
Non-Agency
Mortgage-Backed
Securities
Collateralized
Mortgage
Obligations
—
0.2%
Alternative
Loan
Trust
Series
2005-22T1,
Class
A1,
(LIBOR
USD
1
Month
+
0.35%),
3.43%,
06/25/35
(a)
..
41
35,336
Series
2006-11CB,
Class
3A1,
6.50%,
05/25/36
....................
19
10,638
Series
2006-OC10,
Class
2A3,
(LIBOR
USD
1
Month
+
0.46%),
3.54%,
11/25/36
(a)
.
23
20,286
Series
2007-OA3,
Class
1A1,
(LIBOR
USD
1
Month
+
0.28%),
3.36%,
04/25/47
(a)
.
21
18,794
Series
2007-OA3,
Class
2A2,
(LIBOR
USD
1
Month
+
0.36%),
3.44%,
04/25/47
(a)
.
2
99
Series
2007-OA8,
Class
2A1,
(LIBOR
USD
1
Month
+
0.36%),
3.44%,
06/25/47
(a)
.
13
9,845
Series
2007-OH2,
Class
A2A,
(LIBOR
USD
1
Month
+
0.48%),
3.56%,
08/25/47
(a)
.
6
5,274
American
Home
Mortgage
Assets
Trust,
Series
2006-3,
Class
2A11,
(Federal
Reserve
US
12
Month
Cumulative
Average
1
Year
CMT
+
0.94%),
2.04%,
10/25/46
(a)
..........
45
32,356
APS
Resecuritization
Trust
(a)(d)
Series
2016-1,
Class
1MZ,
3.12%,
07/31/57
137
54,146
Series
2016-3,
Class
3A,
(LIBOR
USD
1
Month
+
2.85%),
5.93%,
09/27/46
...
25
25,344
Banc
of
America
Funding
Trust,
Series
2014-
R2,
Class
1C,
0.00%,
11/26/36
(a)(d)
.....
54
14,110
BlackRock
Sustainable
Balanced
Portfolio
14
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Par
(000)
Par
(000)
Value
Collateralized
Mortgage
Obligations
(continued)
Bear
Stearns
Mortgage
Funding
Trust,
Series
2006-SL1,
Class
A1,
(LIBOR
USD
1
Month
+
0.28%),
3.36%,
08/25/36
(a)
.........
USD
13
$
12,773
Chase
Mortgage
Finance
Trust,
Series
2007-
S6,
Class
1A1,
6.00%,
12/25/37
.......
273
126,593
Citicorp
Mortgage
Securities
Trust,
Series
2008-2,
Class
1A1,
6.50%,
06/25/38
....
23
17,669
Credit
Suisse
Mortgage
Capital
Certificates,
Series
2009-12R,
Class
3A1,
6.50%,
10/27/37
(d)
.....................
109
45,074
CSFB
Mortgage-Backed
Pass-Through
Certificates,
Series
2005-10,
Class
10A1,
(LIBOR
USD
1
Month
+
1.35%),
4.43%,
11/25/35
(a)
.....................
18
3,560
CSMC
Mortgage-Backed
Trust,
Series
2007-5,
Class
1A11,
7.00%,
08/25/37
(a)
........
24
13,383
Deutsche
Alt-A
Securities
Mortgage
Loan
Trust,
Series
2007-OA4,
Class
A2A,
(LIBOR
USD
1
Month
+
0.34%),
3.42%,
08/25/47
(a)
...
83
84,177
Deutsche
Alt-A
Securities,
Inc.,
Series
2007-
RS1,
Class
A2,
(LIBOR
USD
1
Month
+
0.50%),
5.67%,
01/27/37
(a)(d)
.........
—
(b)
101
GreenPoint
Mortgage
Funding
Trust,
Series
2006-AR2,
Class
4A1,
(Federal
Reserve
US
12
Month
Cumulative
Average
1
Year
CMT
+
2.00%),
3.10%,
03/25/36
(a)
..........
6
5,742
GSR
Mortgage
Loan
Trust,
Series
2007-1F,
Class
2A4,
5.50%,
01/25/37
.........
1
1,319
IndyMac
INDX
Mortgage
Loan
Trust,
Series
2007-AR19,
Class
3A1,
3.37%,
09/25/37
(a)
29
19,271
JPMorgan
Alternative
Loan
Trust,
Series
2007-A1,
Class
1A4,
(LIBOR
USD
1
Month
+
0.42%),
3.50%,
03/25/37
(a)
.........
34
32,866
New
Residential
Mortgage
Loan
Trust,
Series
2019-2A,
Class
A1,
4.25%,
12/25/57
(a)(d)
.
37
35,605
Nomura
Asset
Acceptance
Corp.
Alternative
Loan
Trust,
Series
2007-2,
Class
A4,
(LIBOR
USD
1
Month
+
0.42%),
3.50%,
06/25/37
(a)
.....................
4
3,956
Structured
Adjustable
Rate
Mortgage
Loan
Trust,
Series
2006-3,
Class
4A,
3.25%,
04/25/36
(a)
.....................
8
5,125
Structured
Asset
Mortgage
Investments
II
Trust,
Series
2006-AR4,
Class
3A1,
(LIBOR
USD
1
Month
+
0.38%),
3.46%,
06/25/36
(a)
...
11
9,536
Washington
Mutual
Mortgage
Pass-Through
Certificates
WMALT
Trust
Series
2006-4,
Class
1A1,
6.00%,
04/25/36
33
30,102
Series
2006-4,
Class
3A5,
6.85%,
05/25/36
(c)
...................
42
36,407
709,487
Commercial
Mortgage-Backed
Securities
—
0.0%
(a)(d)
280
Park
Avenue
Mortgage
Trust,
Series
2017-280P,
Class
E,
(LIBOR
USD
1
Month
+
2.12%),
4.82%,
09/15/34
............
100
92,465
Bayview
Commercial
Asset
Trust
Series
2005-4A,
Class
A1,
(LIBOR
USD
1
Month
+
0.45%),
3.53%,
01/25/36
...
16
14,476
Series
2005-4A,
Class
M1,
(LIBOR
USD
1
Month
+
0.68%),
3.76%,
01/25/36
...
12
10,766
Series
2006-1A,
Class
A2,
(LIBOR
USD
1
Month
+
0.54%),
3.62%,
04/25/36
...
7
6,102
Series
2006-3A,
Class
A1,
(LIBOR
USD
1
Month
+
0.38%),
3.46%,
10/25/36
...
9
8,188
Security
Par
(000)
Par
(000)
Value
Commercial
Mortgage-Backed
Securities
(continued)
Series
2006-3A,
Class
A2,
(LIBOR
USD
1
Month
+
0.45%),
3.53%,
10/25/36
...
USD
9
$
8,203
Lehman
Brothers
Small
Balance
Commercial
Mortgage
Trust,
Series
2007-1A,
Class
1A,
(LIBOR
USD
1
Month
+
0.25%),
3.33%,
03/25/37
......................
3
3,194
143,394
Interest
Only
Commercial
Mortgage-Backed
Securities
—
0.0%
One
Market
Plaza
Trust,
Series
2017-1MKT,
Class
XCP,
0.00%,
02/10/32
(a)(d)
.......
1,000
29
Principal
Only
Collateralized
Mortgage
Obligations
—
0.0%
Seasoned
Credit
Risk
Transfer
Trust,
Series
2017-3,
Class
B,
0.00%,
07/25/56
(d)(k)
...
38
6,874
Total
Non-Agency
Mortgage-Backed
Securities
—
0.2%
(Cost:
$1,005,488)
..............................
859,784
Beneficial
Interest
(000)
Other
Interests
(l)
Capital
Markets
—
0.0%
(j)
Lehman
Brothers
Holdings,
Inc.
(e)(i)
.......
490
—
Lehman
Brothers
Holdings,
Inc.
(e)(i)
.......
130
—
Lehman
Brothers
Holdings,
Inc.
.........
499
—
Total
Other
Interests
—
0.0%
(Cost:
$6)
....................................
—
Shares
Shares
Preferred
Securities
Preferred
Stocks
—
0.3%
Airlines
—
0.0%
Azul
SA
(Preference)
................
26,852
73,323
Automobiles
—
0.1%
Volkswagen
AG
(Preference)
...........
2,328
284,463
Banks
—
0.1%
Banco
Bradesco
SA
(Preference)
........
99,872
367,322
Bancolombia
SA
(Preference)
..........
11,335
68,895
Itau
Unibanco
Holding
SA
(Preference)
....
6,859
35,602
471,819
Chemicals
—
0.1%
Sociedad
Quimica
y
Minera
de
Chile
SA
(Preference)
....................
5,904
549,471
Total
Preferred
Securities
—
0.3%
(Cost:
$1,509,779)
..............................
1,379,076
Rights
Road
&
Rail
—
0.0%
Localiza
Rent
a
Car
SA(Expires
10/31/22,
Strike
Price
BRL
50.35)
(e)
...........
6
12
Total
Rights
—
0.0%
(Cost:
$—)
....................................
12
Par
(000)
Par
(000)
U.S.
Government
Sponsored
Agency
Securities
Mortgage-Backed
Securities
—
8.0%
Federal
Home
Loan
Mortgage
Corp.
2.50%, 01/01/29
-
04/01/31
..........
173
161,330
BlackRock
Sustainable
Balanced
Portfolio
15
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Security
Par
(000)
Par
(000)
Value
Mortgage-Backed
Securities
(continued)
3.00%, 09/01/27
-
12/01/46
..........
USD
284
$
260,728
3.50%, 04/01/31
-
01/01/48
..........
439
408,678
4.00%, 08/01/40
-
12/01/45
..........
68
64,633
4.50%, 02/01/39
-
04/01/49
..........
509
496,143
5.00%, 10/01/41
-
11/01/48
..........
97
97,978
5.50%, 06/01/41
.................
46
47,081
6.00%, 01/01/34
.................
33
33,176
Federal
National
Mortgage
Association,
4.00%, 01/01/41
.................
5
4,627
Government
National
Mortgage
Association
2.00%, 08/20/50
-
04/20/52
..........
3,711
3,103,640
2.00%, 10/15/52
(m)
................
663
552,166
2.50%, 07/20/51
-
07/20/52
..........
5,171
4,456,302
2.50%, 10/15/52
(m)
................
925
794,687
3.00%, 02/15/45
-
07/20/52
..........
1,922
1,706,254
3.00%, 10/15/52
(m)
................
3,145
2,779,437
3.50%, 01/15/42
-
10/20/46
..........
1,082
1,001,292
3.50%, 10/15/52
(m)
................
861
783,073
4.00%, 04/20/39
-
12/20/47
..........
220
209,602
4.00%, 10/15/52
(m)
................
494
461,292
4.50%, 12/20/39
-
04/20/50
..........
291
285,229
4.50%, 10/15/52
(m)
................
47
44,986
5.00%, 12/15/38
-
07/20/42
..........
62
62,596
7.50%, 03/15/32
.................
1
1,423
Uniform
Mortgage-Backed
Securities
2.00%, 10/01/31
-
02/01/52
..........
3,957
3,241,865
2.00%, 10/25/37
-
10/25/52
(m)
.........
550
477,455
2.50%, 09/01/27
-
02/01/52
..........
2,085
1,823,464
3.00%, 04/01/29
-
03/01/52
..........
2,176
1,966,792
3.50%, 08/01/30
-
01/01/51
..........
2,810
2,575,756
3.50%, 10/25/37
(m)
................
61
57,645
4.00%, 10/01/33
-
01/01/51
..........
1,396
1,325,636
4.50%, 02/01/25
-
05/01/49
..........
2,378
2,322,813
4.50%, 10/25/52
(m)
................
75
71,443
5.00%, 09/01/35
-
05/01/49
..........
180
180,219
5.50%, 02/01/35
-
04/01/41
..........
292
299,215
6.00%, 12/01/27
-
06/01/41
..........
169
177,823
6.50%, 05/01/40
.................
47
49,470
Total
U.S.
Government
Sponsored
Agency
Securities
—
8.0%
(Cost:
$35,661,760)
..............................
32,385,949
U.S.
Treasury
Obligations
U.S.
Treasury
Bonds
4.25%, 05/15/39
.................
66
68,797
4.50%, 08/15/39
.................
82
88,038
4.38%, 11/15/39
.................
82
86,590
1.13%, 05/15/40
-
08/15/40
..........
694
431,784
1.38%, 11/15/40
.................
347
224,317
2.25%, 05/15/41
-
02/15/52
..........
13,000
9,533,555
2.38%, 02/15/42
.................
4,000
3,065,000
3.13%, 02/15/43
.................
332
285,364
2.88%, 05/15/43
-
11/15/46
..........
597
490,038
3.63%, 08/15/43
.................
332
309,577
3.75%, 11/15/43
.................
332
315,296
2.50%, 02/15/45
.................
593
452,093
3.00%, 02/15/47
.................
1,500
1,254,082
1.63%, 11/15/50
.................
3
1,863
1.88%, 11/15/51
.................
1,000
661,289
U.S.
Treasury
Notes
2.13%, 12/31/22
.................
623
620,886
1.50%, 01/15/23
-
02/15/30
..........
1,868
1,671,611
0.50%, 05/31/27
.................
129
109,433
2.25%, 08/15/27
.................
798
733,537
1.25%, 03/31/28
-
09/30/28
..........
1,047
901,679
Security
Par
(000)
Par
(000)
Value
U.S.
Treasury
Obligations
(continued)
2.88%, 08/15/28
.................
USD
188
$
176,375
3.13%, 11/15/28
.................
386
366,775
1.75%, 01/31/29
-
11/15/29
..........
1,239
1,076,303
2.63%, 02/15/29
.................
63
58,051
1.88%, 02/28/29
-
02/15/32
..........
12,352
10,737,946
2.38%, 05/15/29
.................
7,063
6,391,463
1.63%, 08/15/29
-
05/15/31
..........
952
815,811
1.13%, 02/15/31
.................
235
190,286
1.38%, 11/15/31
.................
43
34,938
Total
U.S.
Treasury
Obligations
—
10.2%
(Cost:
$48,786,795)
..............................
41,152,777
Total
Long-Term
Investments
—
94.3%
(Cost:
$435,475,201)
.............................
380,329,371
Shares
Shares
Short-Term
Securities
Money
Market
Funds
—
9.8%
(n)(o)
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class,
2.79%
...................
31,498,888
31,498,888
SL
Liquidity
Series,
LLC,
Money
Market
Series,
3.29%
(p)
.......................
8,117,731
8,117,731
Total
Short-Term
Securities
—
9.8%
(Cost:
$39,616,619)
..............................
39,616,619
Total
Investments
Before
TBA
Sale
Commitments
and
Investments
Sold
Short
—
104.1%
(Cost:
$475,091,820
)
.............................
419,945,990
Par
(000)
Pa
r
(
000)
TBA
Sale
Commitments
Mortgage-Backed
Securities
—
(0.2)%
Government
National
Mortgage
Association,
3.00%, 10/15/52
(m)
................
(1,000)
(883,633)
Total
TBA
Sale
Commitments
—
(0.2)%
(Proceeds:
$(891,563))
...........................
(883,633)
Investments
Sold
Short
U.S.
Treasury
Obligations
U.S.
Treasury
Notes
3.13%, 11/15/28
.................
(23)
(21,854)
1.63%, 08/15/29
.................
(460)
(396,696)
1.50%, 02/15/30
.................
(1,253)
(1,063,386)
1.13%, 02/15/31
.................
(56)
(45,345)
1.38%, 11/15/31
.................
(40)
(32,500)
Total
U.S.
Treasury
Obligations
—
(0.4)%
(Proceeds:
$(1,861,103))
..........................
(1,559,781)
Total
Investments
Sold
Short
—
(0.4)%
(Proceeds:
$(1,861,103))
..........................
(1,559,781)
Total
Investments
Net
of
TBA
Sale
Commitments
and
Investments
Sold
Short
—
103.5%
(Cost:
$472,339,154
)
.............................
417,502,576
Liabilities
in
Excess
of
Other
Assets
—
(3.5)%
............
(14,262,670)
Net
Assets
—
100.0%
..............................
$
403,239,906
BlackRock
Sustainable
Balanced
Portfolio
16
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
(a)
Variable
rate
security.
Interest
rate
resets
periodically.
The
rate
shown
is
the
effective
interest
rate
as
of
period
end.
Security
description
also
includes
the
reference
rate
and
spread
if
published
and
available.
(b)
Rounds
to
less
than
1,000.
(c)
Step
coupon
security.
Coupon
rate
will
either
increase
(step-up
bond)
or
decrease
(step-down
bond)
at
regular
intervals
until
maturity.
Interest
rate
shown
reflects
the
rate
currently
in
effect.
(d)
Security
exempt
from
registration
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933,
as
amended.
These
securities
may
be
resold
in
transactions
exempt
from
registration
to
qualified
institutional
investors.
(e)
Non-income
producing
security.
(f)
This
security
may
be
resold
to
qualified
foreign
investors
and
foreign
institutional
buyers
under
Regulation
S
of
the
Securities
Act
of
1933.
(g)
All
or
a
portion
of
this
security
is
on
loan.
(h)
Perpetual
security
with
no
stated
maturity
date.
(i)
Issuer
filed
for
bankruptcy
and/or
is
in
default.
(j)
Security
is
valued
using
significant
unobservable
inputs
and
is
classified
as
Level
3
in
the
fair
value
hierarchy.
(k)
Zero-coupon
bond.
(l)
Other
interests
represent
beneficial
interests
in
liquidation
trusts
and
other
reorganization
or
private
entities.
(m)
Represents
or
includes
a
TBA
transaction.
(n)
Affiliate
of
the
Fund.
(o)
Annualized
7-day
yield
as
of
period
end.
(p)
All
or
a
portion
of
this
security
was
purchased
with
the
cash
collateral
from
loaned
securities.
Affiliates
Investments
in
issuers
considered
to
be
affiliate(s)
of
the
Fund
during
the
period
ended
September
30,
2022
for
purposes
of
Section
2(a)(3)
of
the
Investment
Company
Act
of
1940,
as
amended,
were
as
follows:
Affiliated
Issuer
Value
at
12/31/21
Purchases
at
Cost
Proceeds
from
Sale
Net
Realized
Gain
(Loss)
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
09/30/22
Shares
Held
at
09/30/22
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class
...
$
46,127,397
$
—
$
(14,628,509)
(a)
$
—
$
—
$
31,498,888
31,498,888
$
264,058
$
—
SL
Liquidity
Series,
LLC,
Money
Market
Series
...........
8,980,617
—
(858,676)
(a)
(4,210)
—
8,117,731
8,117,731
31,126
(b)
—
BlackRock
Allocation
Target
Shares-
BATS
Series
A
(c)
....
31,424,619
—
(30,479,991)
(1,059,012)
114,384
—
—
—
—
iShares
MSCI
Taiwan
ETF
(c)
....
—
6,042,426
(4,982,533)
(1,059,893)
—
—
—
—
—
$
(2,123,115)
$
114,384
$
39,616,619
$
295,184
$
—
—
—
(a)
Represents
net
amount
purchased
(sold).
(b)
All
or
a
portion
represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
fees
and
collateral
investment
expenses,
and
other
payments
to
and
from
borrowers
of
securities.
(c)
As
of
period
end,
the
entity
is
no
longer
held.
For
Fund
compliance
purposes,
the
Fund's
industry
classifications
refer
to
one
or
more
of
the
industry
sub-classifications
used
by
one
or
more
widely
recognized
market
indexes
or
rating
group
indexes,
and/or
as
defined
by
the
in
vestment
adviser.
These
definitions
may
not
apply
for
purposes
of
this
report,
which
may
combine
such
industry
sub-classifications
for
reporting
ease.
BlackRock
Sustainable
Balanced
Portfolio
17
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
i
Derivative
Financial
Instruments
Outstanding
as
of
Period
End
Futures
Contracts
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
(000)
Value/
Unrealized
Appreciation
(Depreciation)
Long
Contracts
TOPIX
Index
.............................................................
62
12/08/22
$
7,875
$
(296,789)
S&P/TSX
60
Index
.........................................................
3
12/15/22
485
(24,572)
MSCI
EAFE
E-Mini
Index
....................................................
27
12/16/22
2,242
(116,044)
MSCI
Emerging
Markets
E-Mini
Index
............................................
7
12/16/22
305
(40,070)
S&P
500
E-Mini
Index
......................................................
25
12/16/22
4,053
(274,872)
U.S.
Treasury
10
Year
Note
...................................................
24
12/20/22
2,690
(109,407)
U.S.
Treasury
Long
Bond
....................................................
12
12/20/22
1,518
(103,548)
U.S.
Treasury
Ultra
Bond
....................................................
1
12/20/22
137
(8,779)
(974,081)
Short
Contracts
U.S.
Treasury
10
Year
Note
...................................................
118
12/20/22
13,223
311,123
U.S.
Treasury
Ultra
Bond
....................................................
30
12/20/22
4,101
340,801
U.S.
Treasury
2
Year
Note
....................................................
19
12/30/22
3,901
66,426
U.S.
Treasury
5
Year
Note
....................................................
64
12/30/22
6,877
98,402
816,752
$
(157,329)
Forward
Foreign
Currency
Exchange
Contracts
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation
(Depreciation)
USD
115,044
EUR
113,000
BNP
Paribas
SA
12/21/22
$
3,597
USD
115,981
GBP
99,100
Bank
of
America
NA
12/21/22
5,195
USD
1,195,588
JPY
168,903,000
Citibank
NA
12/21/22
17,817
$
26,609
Centrally
Cleared
Credit
Default
Swaps
—
Buy
Protection
Reference
Obligation/Index
Financing
Rate
Paid
by
the
Fund
Payment
Frequency
Termination
Date
Notional
Amount
(000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
CDX.NA.HY.39.V1
...................
5.00
%
Quarterly
12/20/27
USD
4,707
$
185,964
$
223,093
$
(37,129)
OTC
Total
Return
Swaps
Paid
by
the
Fund
Received
by
the
Fund
Rate/Reference
Frequency
Rate/Reference
Frequency
Counterparty
Termination
Date
Notional
Amount
(000)
Value
Upfront
Premium
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
1
day
SOFR
plus
0.09%
Quarterly
MSCI
ACWI
ESG
Universal
Index
Quarterly
BNP
Paribas
SA
04/11/23
USD
21,661
$
(1,823,499)
$
—
$
(1,823,499)
The
following
reference
rates,
and
their
values
as
of
period
end,
are
used
for
security
descriptions:
Reference
Index
Reference
Rate
1
day
SOFR
.........................................
Secured
Overnight
Financing
Rate
2.59
%
BlackRock
Sustainable
Balanced
Portfolio
18
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Glossary
of
Terms
Used
in
this
Report
Currency
Abbreviation
BRL
Brazilian
Real
CAD
Canadian
Dollar
EUR
Euro
GBP
British
Pound
JPY
Japanese
Yen
USD
United
States
Dollar
Portfolio
Abbreviation
ABS
Asset-Backed
Security
ADR
American
Depositary
Receipts
CDI
Crest
Depository
Interests
CMT
Constant
Maturity
Treasury
CSMC
Credit
Suisse
Mortgage
Capital
DAC
Designated
Activity
Company
ETF
Exchange-Traded
Fund
LIBOR
London
Interbank
Offered
Rate
MSCI
Morgan
Stanley
Capital
International
OTC
Over-the-counter
REIT
Real
Estate
Investment
Trust
S&P
Standard
&
Poor's
SOFR
Secured
Overnight
Financing
Rate
TBA
To-be-announced
BlackRock
Sustainable
Balanced
Portfolio
19
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Fair
Value
Hierarchy
as
of
Period
End
Various
inputs
are
used
in
determining
the
fair
value
of
financial
instruments.
These
inputs
to
valuation
techniques
are
categorized
into
a
fair
value
hierarchy
consisting
of
three
broad
levels
for
financial
reporting
purposes
as
follows:
•
Level
1
—
Unadjusted
price
quotations
in
active
markets/exchanges
for
identical
assets
or
liabilities
that
the
Fund
has
the
ability
to
access;
•
Level
2
—
Other
observable
inputs
(including,
but
not
limited
to,
quoted
prices
for
similar
assets
or
liabilities
in
markets
that
are
active,
quoted
prices
for
identical
or
similar
assets
or
liabilities
in
markets
that
are
not
active,
inputs
other
than
quoted
prices
that
are
observable
for
the
assets
or
liabilities
(such
as
interest
rates,
yield
curves,
volatilities,
prepayment
speeds,
loss
severities,
credit
risks
and
default
rates)
or
other
market-corroborated
inputs);
and
•
Level
3
—
Unobservable
inputs
based
on
the
best
information
available
in
the
circumstances,
to
the
extent
observable
inputs
are
not
available
(including
the
Valuation
Committee's
assumptions
used
in
determining
the
fair
value
of
financial
instruments).
The
hierarchy
gives
the
highest
priority
to
unadjusted
quoted
prices
in
active
markets
for
identical
assets
or
liabilities
(Level
1
measurements)
and
the
lowest
priority
to
unobservable
inputs
(Level
3
measurements).
Accordingly,
the
degree
of
judgment
exercised
in
determining
fair
value
is
greatest
for
instruments
categorized
in
Level
3.
The
inputs
used
to
measure
fair
value
may
fall
into
different
levels
of
the
fair
value
hierarchy.
In
such
cases,
for
disclosure
purposes,
the
fair
value
hierarchy
classification
is
determined
based
on
the
lowest
level
input
that
is
significant
to
the
fair
value
measurement
in
its
entirety.
Investments
classified
within
Level
3
have
significant
unobservable
inputs
used
by
the
Valuation
Committee
in
determining
the
price
for
Fair
Valued
Investments.
Level
3
investments
include
equity
or
debt
issued
by
privately
held
companies
or
funds.
There
may
not
be
a
secondary
market,
and/
or
there
are
a
limited
number
of
investors.
The
categorization
of
a
value
determined
for
financial
instruments
is
based
on
the
pricing
transparency
of
the
financial
instruments
and
is
not
necessarily
an
indication
of
the
risks
associated
with
investing
in
those
securities.
For
information
about
the
Fund’s
policy
regarding
valuation
of
financial
instruments,
refer
to
its
most
recent
financial
statements.
Certain
investments
of
the
Fund
were
fair
valued
using
net
asset
value
("NAV")
per
share
as
no
quoted
market
value
is
available
and
therefore
have
been
excluded
from
the
fair
value
hierarchy.
The
following
table
summarizes
the
Fund’s
financial
instruments
categorized
in
the
fair
value
hierarchy.
The
breakdown
of
the
Fund's
financial
instruments
into
major
categories
is
disclosed
in
the
Schedule
of
Investments
above.
Level
1
Level
2
Level
3
Total
Assets
Investments
Long-Term
Investments
Asset-Backed
Securities
...................................
$
—
$
979,888
$
—
$
979,888
Common
Stocks
Aerospace
&
Defense
....................................
1,062,657
519,701
—
1,582,358
Air
Freight
&
Logistics
....................................
380,857
318,232
—
699,089
Airlines
..............................................
—
125,001
—
125,001
Auto
Components
......................................
—
303,960
—
303,960
Automobiles
..........................................
2,887,047
2,732,546
—
5,619,593
Banks
...............................................
8,609,438
3,140,615
—
11,750,053
Beverages
...........................................
5,583,316
1,482,479
—
7,065,795
Biotechnology
.........................................
2,871,174
661,300
—
3,532,474
Building
Products
.......................................
606,894
144,175
—
751,069
Capital
Markets
........................................
1,472,371
1,905,271
—
3,377,642
Chemicals
............................................
77,127
3,027,661
—
3,104,788
Commercial
Services
&
Supplies
.............................
141,640
17,199
—
158,839
Communications
Equipment
................................
292,603
217,698
—
510,301
Construction
&
Engineering
................................
352,858
1,088,749
—
1,441,607
Construction
Materials
....................................
—
62,719
—
62,719
Consumer
Finance
......................................
3,041,232
—
—
3,041,232
Containers
&
Packaging
..................................
94,008
—
—
94,008
Diversified
Consumer
Services
..............................
640,216
28,289
—
668,505
Diversified
Financial
Services
...............................
1,174,250
183,192
—
1,357,442
Diversified
Telecommunication
Services
........................
176,805
1,693,861
—
1,870,666
Electric
Utilities
........................................
2,643,909
1,153,841
—
3,797,750
Electrical
Equipment
.....................................
—
878,504
—
878,504
Electronic
Equipment,
Instruments
&
Components
.................
—
1,894,058
—
1,894,058
Energy
Equipment
&
Services
..............................
449,970
14,569
—
464,539
Entertainment
.........................................
—
27,268
—
27,268
Equity
Real
Estate
Investment
Trusts
(REITs)
....................
3,699,445
737,090
—
4,436,535
Food
&
Staples
Retailing
..................................
514,910
1,270,723
—
1,785,633
BlackRock
Sustainable
Balanced
Portfolio
20
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Level
1
Level
2
Level
3
Total
Food
Products
.........................................
$
1,200,909
$
2,077,817
$
—
$
3,278,726
Health
Care
Equipment
&
Supplies
...........................
4,079,850
3,817
—
4,083,667
Health
Care
Providers
&
Services
............................
6,958,091
6,993
—
6,965,084
Hotels,
Restaurants
&
Leisure
..............................
3,155,292
1,383,269
—
4,538,561
Household
Durables
.....................................
41,036
297,336
—
338,372
Household
Products
.....................................
2,940,547
—
—
2,940,547
Independent
Power
and
Renewable
Electricity
Producers
............
163,550
143,157
—
306,707
Industrial
Conglomerates
..................................
1,549,610
1,531,254
—
3,080,864
Insurance
............................................
4,991,187
2,693,226
—
7,684,413
Interactive
Media
&
Services
...............................
6,823,806
2,293,956
—
9,117,762
Internet
&
Direct
Marketing
Retail
............................
3,905,274
1,270,929
—
5,176,203
IT
Services
...........................................
8,330,300
533,371
—
8,863,671
Leisure
Products
.......................................
—
188,714
—
188,714
Life
Sciences
Tools
&
Services
..............................
2,370,124
228,395
—
2,598,519
Machinery
............................................
115,524
1,263,082
—
1,378,606
Marine
..............................................
10,649
564,881
—
575,530
Media
...............................................
2,582,886
18,295
—
2,601,181
Metals
&
Mining
........................................
1,273,279
1,198,948
—
2,472,227
Multiline
Retail
.........................................
29,350
38,642
—
67,992
Multi-Utilities
..........................................
—
1,215,649
—
1,215,649
Oil,
Gas
&
Consumable
Fuels
...............................
9,523,244
2,158,847
—
11,682,091
Paper
&
Forest
Products
..................................
97,879
—
—
97,879
Personal
Products
......................................
216,227
1,424,179
—
1,640,406
Pharmaceuticals
.......................................
9,592,635
3,892,029
—
13,484,664
Professional
Services
....................................
1,065,708
2,345,203
—
3,410,911
Real
Estate
Management
&
Development
.......................
48,108
1,642,270
—
1,690,378
Road
&
Rail
...........................................
539,128
8,712
—
547,840
Semiconductors
&
Semiconductor
Equipment
....................
6,275,059
3,018,937
—
9,293,996
Software
.............................................
13,313,376
113,871
—
13,427,247
Specialty
Retail
........................................
5,146,638
75,110
—
5,221,748
Technology
Hardware,
Storage
&
Peripherals
....................
12,011,328
687,387
—
12,698,715
Textiles,
Apparel
&
Luxury
Goods
............................
670,221
2,962,429
—
3,632,650
Thrifts
&
Mortgage
Finance
................................
46,401
—
—
46,401
Trading
Companies
&
Distributors
............................
161,262
2,213,103
—
2,374,365
Transportation
Infrastructure
...............................
48,845
92,314
—
141,159
Water
Utilities
.........................................
—
289,451
—
289,451
Wireless
Telecommunication
Services
.........................
—
1,093,810
—
1,093,810
Corporate
Bonds
Air
Freight
&
Logistics
....................................
—
395,056
—
395,056
Airlines
..............................................
—
193,393
—
193,393
Automobiles
..........................................
—
253,214
—
253,214
Banks
...............................................
—
15,402,969
1,000
15,403,969
Beverages
...........................................
—
4,055,890
—
4,055,890
Biotechnology
.........................................
—
2,463,491
—
2,463,491
Building
Products
.......................................
—
1,563,788
—
1,563,788
Capital
Markets
........................................
—
9,134,307
—
9,134,307
Chemicals
............................................
—
292,195
—
292,195
Commercial
Services
&
Supplies
.............................
—
887,247
—
887,247
Communications
Equipment
................................
—
706,746
—
706,746
Consumer
Finance
......................................
—
710,524
—
710,524
Distributors
...........................................
—
138,473
—
138,473
Diversified
Financial
Services
...............................
—
904,400
—
904,400
Diversified
Telecommunication
Services
........................
—
1,581,318
—
1,581,318
Electric
Utilities
........................................
—
1,968,936
—
1,968,936
Electronic
Equipment,
Instruments
&
Components
.................
—
1,546,612
—
1,546,612
Energy
Equipment
&
Services
..............................
—
241,804
—
241,804
Entertainment
.........................................
—
342,177
—
342,177
Equity
Real
Estate
Investment
Trusts
(REITs)
....................
—
6,507,537
—
6,507,537
Food
Products
.........................................
—
3,612,669
—
3,612,669
Gas
Utilities
...........................................
—
175,486
—
175,486
Health
Care
Providers
&
Services
............................
—
3,111,047
—
3,111,047
Hotels,
Restaurants
&
Leisure
..............................
—
459,569
—
459,569
Household
Products
.....................................
—
13,367
—
13,367
Industrial
Conglomerates
..................................
—
851,545
—
851,545
Insurance
............................................
—
4,053,989
—
4,053,989
Internet
&
Direct
Marketing
Retail
............................
—
220,513
—
220,513
BlackRock
Sustainable
Balanced
Portfolio
21
Schedule
of
Investments
(unaudited)
(continued)
September
30,
2022
Level
1
Level
2
Level
3
Total
IT
Services
...........................................
$
—
$
2,707,197
$
—
$
2,707,197
Life
Sciences
Tools
&
Services
..............................
—
1,217,208
—
1,217,208
Machinery
............................................
—
1,462,453
—
1,462,453
Media
...............................................
—
421,063
—
421,063
Metals
&
Mining
........................................
—
1,152,755
—
1,152,755
Multi-Utilities
..........................................
—
702,967
—
702,967
Oil,
Gas
&
Consumable
Fuels
...............................
—
3,472,942
—
3,472,942
Paper
&
Forest
Products
..................................
—
208,466
—
208,466
Pharmaceuticals
.......................................
—
3,205,245
—
3,205,245
Professional
Services
....................................
—
1,136,858
—
1,136,858
Real
Estate
Management
&
Development
.......................
—
586,215
—
586,215
Road
&
Rail
...........................................
—
235,259
—
235,259
Semiconductors
&
Semiconductor
Equipment
....................
—
3,810,959
—
3,810,959
Software
.............................................
—
4,281,726
—
4,281,726
Specialty
Retail
........................................
—
1,365,288
—
1,365,288
Technology
Hardware,
Storage
&
Peripherals
....................
—
2,198,873
—
2,198,873
Thrifts
&
Mortgage
Finance
................................
—
226,857
—
226,857
Wireless
Telecommunication
Services
.........................
—
915,801
—
915,801
Floating
Rate
Loan
Interests
.................................
—
—
119
119
Investment
Companies
....................................
3,826,238
—
—
3,826,238
Non-Agency
Mortgage-Backed
Securities
........................
—
859,784
—
859,784
Other
Interests
..........................................
—
—
—
—
Preferred
Stocks
Airlines
..............................................
73,323
—
—
73,323
Automobiles
..........................................
—
284,463
—
284,463
Banks
...............................................
471,819
—
—
471,819
Chemicals
............................................
—
549,471
—
549,471
Rights
................................................
—
12
—
12
U.S.
Government
Sponsored
Agency
Securities
....................
—
32,385,949
—
32,385,949
U.S.
Treasury
Obligations
...................................
—
41,152,777
—
41,152,777
Short-Term
Securities
Money
Market
Funds
......................................
31,498,888
—
—
31,498,888
Liabilities
Investments
TBA
Sale
Commitments
....................................
—
(883,633)
—
(883,633)
Investments
Sold
Short
....................................
—
(1,559,781)
—
(1,559,781)
$
181,920,318
$
227,463,408
$
1,119
$
409,384,845
Investments
Valued
at
NAV
(a)
.....................................
8,117,731
$
—
$
417,502,576
$
—
Derivative
Financial
Instruments
(b)
Assets
Foreign
currency
exchange
contracts
............................
$
—
$
26,609
$
—
$
26,609
Interest
rate
contracts
.......................................
816,752
—
—
816,752
Liabilities
Credit
contracts
...........................................
—
(37,129)
—
(37,129)
Equity
contracts
...........................................
(455,558)
(2,120,288)
—
(2,575,846)
Interest
rate
contracts
.......................................
(221,734)
—
—
(221,734)
$
139,460
$
(2,130,808)
$
—
$
(1,991,348)
(a)
Certain
investments
of
the
Fund
were
fair
valued
using
NAV
per
share
as
no
quoted
market
value
is
available
and
therefore
have
been
excluded
from
the
fair
value
hierarchy.
(b)
Derivative
financial
instruments
are
swaps,
futures
contracts
and
forward
foreign
currency
exchange
contracts.
Swaps,
futures
contracts
and
forward
foreign
currency
exchange
contracts
are
valued
at
the
unrealized
appreciation
(depreciation)
on
the
instrument.