Schedule of Investments (unaudited)
June 30, 2020
BlackRock Advantage Small Cap Growth Fund
(Percentages shown are based on Net
Assets)
1
Schedule of Investments (unaudited) (continued)
June 30, 2020
BlackRock Advantage Small Cap Growth Fund
(Percentages shown are based on Net
Assets)
2
Schedule of Investments (unaudited) (continued)
June 30, 2020
BlackRock Advantage Small Cap Growth Fund
(Percentages shown are based on Net
Assets)
3
Schedule of Investments (unaudited) (continued)
June 30, 2020
BlackRock Advantage Small Cap Growth Fund
(Percentages shown are based on Net
Assets)
4
Schedule of Investments (unaudited) (continued)
June 30, 2020
BlackRock Advantage Small Cap Growth Fund
(Percentages shown are based on Net
Assets)
5
Schedule of Investments (unaudited) (continued)
June 30, 2020
BlackRock Advantage Small Cap Growth Fund
(Percentages shown are based on Net
Assets)
6
Schedule of Investments (unaudited) (continued)
June 30, 2020
BlackRock Advantage Small Cap Growth Fund
(Percentages shown are based on Net
Assets)
7
Schedule of Investments (unaudited) (continued)
June 30, 2020
BlackRock Advantage Small Cap Growth Fund
Affiliates
Investments in issuers
considered to be an affiliate/affiliates of the Fund during the period ended June 30, 2020 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Shares Held at 09/30/19 | Shares Purchased | Shares Sold | Shares Held at 06/30/20 | Value at 06/30/20 | Income | Net Realized Gain (Loss)(a) | Change in Unrealized Appreciation (Depreciation) | |||
BlackRock Liquidity Funds, T-Fund, Institutional Class | 5,370,690 | 15,069,722(b) | — | 20,440,412 | $ 20,440,412 | $ 50,875 | $ 13 | $ — | |||
SL Liquidity Series, LLC, Money Market Series | 42,970,281 | — | (1,088,892)(b) | 41,881,389 | 41,914,894 | 326,413(c) | 900 | 26,542 | |||
$ 62,355,306 | $ 377,288 | $ 913 | $ 26,542 |
(a) | Includes net capital gain distributions, if applicable. |
(b) | Represents net shares purchased (sold). |
(c) | 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. |
For Fund compliance
purposes, the Fund’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the
investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.
Portfolio Abbreviation | |
CVR | Contingent Value Rights |
REIT | Real Estate Investment Trust |
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 | ||||
Russell 2000 E-Mini Index | 300 | 09/18/20 | $ 21,564 | $ 655,729 |
Fair Value Hierarchy as of
Period End
Various inputs are used in
determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting
purposes as follows:
• Level 1 — Unadjusted price
quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access
• Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or
similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds,
loss severities, credit risks and default rates) or other market–corroborated inputs)
• Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global
Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of investments and derivative financial instruments)
The hierarchy gives the
highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree
of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for
disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have
significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds.
There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency
of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding
valuation of investments and derivative financial instruments, refer to the Fund’s most recent financial statements as contained in its semi-annual report.
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Schedule of Investments (unaudited) (continued)
June 30, 2020
BlackRock Advantage Small Cap Growth Fund
Certain investments of the
Fund were fair valued using net asset value per share (“NAV”) as no quoted market value is available and therefore have been excluded from the fair value hierarchy.
The following tables
summarize the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy:
Level 1 | Level 2 | Level 3 | Total | ||||
Assets | |||||||
Investments | |||||||
Long-Term Investments | |||||||
Common Stocks | $ 615,828,296 | $ — | $ — | $ 615,828,296 | |||
Preferred Securities | — | — | 4,348,234 | 4,348,234 | |||
Rights | 39,341 | — | 40,946 | 80,287 | |||
Short-Term Securities | |||||||
Money Market Funds | 20,440,412 | — | — | 20,440,412 | |||
$ 636,308,049 | $ — | $ 4,389,180 | 640,697,229 | ||||
Investments Valued at NAV(a) | 41,914,894 | ||||||
$ 682,612,123 | |||||||
Derivative Financial Instruments(b) | |||||||
Assets | |||||||
Equity Contracts | $ 655,729 | $ — | $ — | $ 655,729 |
The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above. |
(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 futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
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