BlackRock
Advantage
ESG
Emerging
Markets
Equity
Fund
2
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
July
31,
2021
Security
Shares
Shares
Value
Common
Stocks
—
93.6%
Brazil
—
3.3%
Ambev
SA
..................
6,738
$
21,566
Banco
do
Brasil
SA
............
11,297
68,477
Cia
Energetica
de
Minas
Gerais
,
ADR
11,947
26,761
CPFL
Energia
SA
..............
14,384
69,956
Energisa
SA
.................
7,847
64,063
Light
SA
....................
10,062
28,168
Localiza
Rent
a
Car
SA
(a)
........
3,423
40,926
Omega
Geracao
SA
(a)
...........
1,265
8,695
Ultrapar
Participacoes
SA
........
16,389
55,823
Ultrapar
Participacoes
SA,
ADR
....
1,284
4,391
388,826
Chile
—
1.7%
Empresas
CMPC
SA
...........
20,037
43,301
Enel
Americas
SA
.............
110,511
15,359
Enel
Americas
SA,
ADR
.........
14,838
101,492
Sociedad
Quimica
y
Minera
de
Chile
SA,
ADR
.................
866
41,135
201,287
China
—
33.7%
3SBio,
Inc.
(a)(b)
................
26,000
21,664
Agricultural
Bank
of
China
Ltd.,
Class
H
36,000
12,005
Alibaba
Group
Holding
Ltd.
(a)
......
21,692
529,778
Angang
Steel
Co.
Ltd.,
Class
H
....
18,000
12,306
ANTA
Sports
Products
Ltd.
.......
1,000
21,771
Baidu,
Inc.,
ADR,
Class
A
(a)
.......
702
115,135
BeiGene
Ltd.,
ADR
(a)
...........
68
21,528
BYD
Co.
Ltd.,
Class
A
...........
200
8,256
BYD
Co.
Ltd.,
Class
H
..........
1,500
46,363
China
Coal
Energy
Co.
Ltd.,
Class
H
.
47,000
28,262
China
Medical
System
Holdings
Ltd.
.
16,000
32,493
China
Molybdenum
Co.
Ltd.,
Class
H
135,000
98,812
China
Resources
Gas
Group
Ltd.
...
2,000
12,328
China
Vanke
Co.
Ltd.,
Class
H
.....
17,600
45,849
CIFI
Holdings
Group
Co.
Ltd.
......
88,000
53,071
Contemporary
Amperex
Technology
Co.
Ltd.,
Class
A
...............
100
8,571
Country
Garden
Services
Holdings
Co.
Ltd.
.....................
5,000
40,599
CSPC
Pharmaceutical
Group
Ltd.
...
8,000
10,799
East
Money
Information
Co.
Ltd.,
Class
A
......................
5,540
26,683
ENN
Energy
Holdings
Ltd.
........
2,400
50,084
Ganfeng
Lithium
Co.
Ltd.,
Class
A
..
100
3,029
Ganfeng
Lithium
Co.
Ltd.,
Class
H
(b)
.
400
8,609
GCL-Poly
Energy
Holdings
Ltd.
(a)
...
17,000
2,720
Geely
Automobile
Holdings
Ltd.
....
10,000
33,544
Greentown
Service
Group
Co.
Ltd.
..
22,000
23,922
Haitong
Securities
Co.
Ltd.,
Class
H
.
33,600
27,691
Hangzhou
Tigermed
Consulting
Co.
Ltd.,
Class
H
(b)
..............
1,500
29,131
Huatai
Securities
Co.
Ltd.,
Class
A
(a)
.
24,000
53,640
Huatai
Securities
Co.
Ltd.,
Class
H
(b)
.
47,600
63,071
Industrial
Bank
Co.
Ltd.,
Class
A
....
14,400
39,420
JCET
Group
Co.
Ltd.,
Class
A
.....
8,200
49,912
JD.com,
Inc.,
ADR
(a)(c)
...........
1,278
90,585
Jiangsu
Yanghe
Brewery
Joint-Stock
Co.
Ltd.,
Class
A
............
400
10,115
Kingdee
International
Software
Group
Co.
Ltd.
(a)
.................
15,000
46,848
KWG
Group
Holdings
Ltd.
........
16,500
18,109
Lenovo
Group
Ltd.
.............
202,000
188,361
Li
Ning
Co.
Ltd.
...............
12,500
132,016
Security
Shares
Shares
Value
China
(continued)
LONGi
Green
Energy
Technology
Co.
Ltd.,
Class
A
...............
560
$
7,476
Meituan
Dianping
,
Class
B
(a)
......
2,000
55,343
MMG
Ltd.
(a)
..................
96,000
48,954
NetEase
,
Inc.,
ADR
............
574
58,669
NIO,
Inc.,
ADR
(a)
..............
1,848
82,569
PICC
Property
&
Casualty
Co.
Ltd.,
Class
H
..................
10,000
8,078
Ping
An
Insurance
Group
Co.
of
China
Ltd.,
Class
A
...............
8,000
66,549
Ping
An
Insurance
Group
Co.
of
China
Ltd.,
Class
H
...............
1,000
8,751
Shandong
Nanshan
Aluminum
Co.
Ltd.,
Class
A
..................
32,247
25,584
Shanghai
Electric
Group
Co.
Ltd.,
Class
H
......................
84,000
20,778
Shenzhen
Inovance
Technology
Co.
Ltd.,
Class
A
...............
600
7,248
Shenzhen
Mindray
Bio-Medical
Electronics
Co.
Ltd.,
Class
A
....
1,460
88,460
Sinopharm
Group
Co.
Ltd.,
Class
H
.
8,000
20,978
Sinotrans
Ltd.,
Class
A
..........
48,900
35,273
Sinotrans
Ltd.,
Class
H
..........
198,000
73,247
Sinotruk
Hong
Kong
Ltd.
.........
1,500
2,571
Sunac
China
Holdings
Ltd.
(a)
......
13,000
33,732
TCL
Technology
Group
Corp.,
Class
A
29,700
34,021
Tencent
Holdings
Ltd.
...........
10,100
609,112
Tianneng
Power
International
Ltd.
...
4,000
7,675
TongFu
Microelectronics
Co.
Ltd.,
Class
A
......................
3,600
12,984
Topsports
International
Holdings
Ltd.
(b)
12,000
16,747
Vipshop
Holdings
Ltd.,
ADR
(a)
......
1,620
26,941
Weichai
Power
Co.
Ltd.,
Class
A
....
600
1,594
Weichai
Power
Co.
Ltd.,
Class
H
...
3,000
6,575
WuXi
AppTec
Co.
Ltd.,
Class
H
(b)
...
2,880
63,836
WuXi
Biologics
Cayman,
Inc.
(a)(b)
....
9,000
137,468
Xiaomi
Corp.,
Class
B
(a)(b)
........
7,600
24,892
Xinjiang
Goldwind
Science
&
Technology
Co.
Ltd.,
Class
A
....
361
810
Xinjiang
Goldwind
Science
&
Technology
Co.
Ltd.,
Class
H
....
17,200
32,320
Xinyi
Solar
Holdings
Ltd.
.........
8,000
16,114
XPeng
,
Inc.,
ADR
(a)
............
1,079
43,732
Yadea
Group
Holdings
Ltd.
(b)
......
14,000
24,093
Zhejiang
Weixing
New
Building
Materials
Co.
Ltd.,
Class
A
.....
11,100
32,812
Zoomlion
Heavy
Industry
Science
and
Technology
Co.
Ltd.,
Class
A
....
49,316
58,273
Zoomlion
Heavy
Industry
Science
and
Technology
Co.
Ltd.,
Class
H
....
33,200
28,594
ZTE
Corp.,
Class
A
............
20,400
122,807
3,962,740
Colombia
—
0.0%
Bancolombia
SA,
ADR
..........
250
7,112
Greece
—
0.6%
National
Bank
of
Greece
SA
(a)
.....
2,208
6,252
OPAP
SA
...................
4,394
63,471
69,723
Hungary
—
0.6%
MOL
Hungarian
Oil
&
Gas
plc
(a)
....
8,937
71,199
India
—
10.0%
Adani
Green
Energy
Ltd.
(a)
........
285
3,368
Asian
Paints
Ltd.
..............
5,430
216,051
BlackRock
Advantage
ESG
Emerging
Markets
Equity
Fund
3
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
July
31,
2021
Security
Shares
Shares
Value
India
(continued)
AstraZeneca
Pharma
India
Ltd.
....
143
$
6,470
Axis
Bank
Ltd.
(a)
...............
4,087
39,025
Azure
Power
Global
Ltd.
(a)
........
429
11,175
Colgate-Palmolive
India
Ltd.
......
455
10,431
Grasim
Industries
Ltd.
...........
1,281
26,768
HDFC
Bank
Ltd.
..............
2,669
51,363
HDFC
Bank
Ltd.,
ADR
..........
1,475
104,091
Housing
Development
Finance
Corp.
Ltd.
.....................
6,064
199,625
Indian
Oil
Corp.
Ltd.
............
18,374
25,490
Infosys
Ltd.
..................
4,946
107,793
Infosys
Ltd.,
ADR
..............
1,635
36,166
Kotak
Mahindra
Bank
Ltd.
(a)
.......
1,312
29,251
Marico
Ltd.
..................
5,375
39,544
Reliance
Industries
Ltd.
.........
455
12,472
Tata
Consultancy
Services
Ltd.
....
3,487
148,664
TVS
Motor
Co.
Ltd.
............
1,699
13,258
UPL
Ltd.
....................
9,210
100,339
1,181,344
Indonesia
—
0.5%
Bank
Central
Asia
Tbk
.
PT
........
28,400
58,628
Malaysia
—
2.7%
CIMB
Group
Holdings
Bhd.
.......
28,800
30,350
Malayan
Banking
Bhd.
..........
53,300
101,169
Petronas
Dagangan
Bhd.
........
10,200
44,468
Public
Bank
Bhd.
..............
77,100
72,715
RHB
Bank
Bhd.
...............
58,900
71,322
320,024
Mexico
—
2.4%
Cemex
SAB
de
CV
(a)
...........
21,525
17,517
Coca-Cola
Femsa
SAB
de
CV
.....
15,703
88,745
Coca-Cola
Femsa
SAB
de
CV,
ADR
.
780
44,125
Fomento
Economico
Mexicano
SAB
de
CV
.....................
5,312
46,301
Fomento
Economico
Mexicano
SAB
de
CV,
ADR
.................
639
55,830
Grupo
Bimbo
SAB
de
CV
........
5,737
13,177
Grupo
Financiero
Banorte
SAB
de
CV,
Class
O
..................
2,557
16,542
282,237
Peru
—
0.1%
Credicorp
Ltd.
(a)
...............
101
10,197
Poland
—
0.3%
(a)
Bank
Polska
Kasa
Opieki
SA
......
679
16,583
mBank
SA
..................
173
14,398
30,981
Qatar
—
0.4%
Masraf
Al
Rayan
QSC
...........
5,545
6,461
Qatar
Islamic
Bank
SAQ
.........
1,752
8,129
Qatar
National
Bank
QPSC
.......
6,851
33,595
48,185
Russia
—
2.2%
LUKOIL
PJSC
................
10
859
LUKOIL
PJSC,
ADR
............
2,587
221,669
Novatek
PJSC,
GDR
...........
150
33,379
255,907
South
Africa
—
4.8%
Barloworld
Ltd.
...............
2,580
19,032
Bidvest
Group
Ltd.
(The)
.........
3,487
47,570
Clicks
Group
Ltd.
..............
1,701
30,776
Security
Shares
Shares
Value
South
Africa
(continued)
FirstRand
Ltd.
................
3,449
$
12,797
Gold
Fields
Ltd.
...............
2,373
23,435
Gold
Fields
Ltd.,
ADR
...........
3,117
30,609
Investec
Ltd.
.................
18,927
70,616
Naspers
Ltd.,
Class
N
...........
748
144,349
Nedbank
Group
Ltd.
(a)
...........
1,375
15,898
Old
Mutual
Ltd.
...............
92,726
81,769
Standard
Bank
Group
Ltd.
........
3,455
29,119
Vodacom
Group
Ltd.
...........
6,260
55,818
561,788
South
Korea
—
14.8%
AMOREPACIFIC
Group
.........
821
41,151
CJ
CheilJedang
Corp.
...........
238
96,759
Coway
Co.
Ltd.
...............
363
27,037
Doosan
Bobcat,
Inc.
(a)
...........
326
13,095
Doosan
Co.
Ltd.
..............
409
34,463
Hyundai
Elevator
Co.
Ltd.
........
106
4,983
KB
Financial
Group,
Inc.
.........
570
25,317
KB
Financial
Group,
Inc.,
ADR
.....
317
14,040
KT
Corp.
...................
695
20,417
KT
Corp.,
ADR
...............
4,564
65,676
LG
Chem
Ltd.
................
98
71,981
LG
Display
Co.
Ltd.
............
341
6,552
LG
Electronics,
Inc.
............
152
20,821
LG
Household
&
Health
Care
Ltd.
...
41
52,005
LG
Innotek
Co.
Ltd.
............
173
34,196
LX
Hausys
Ltd.
...............
366
31,808
NAVER
Corp.
................
586
220,865
POSCO
....................
130
41,347
Samsung
C&T
Corp.
...........
49
6,036
Samsung
Electronics
Co.
Ltd.
.....
10,072
688,284
Samsung
Engineering
Co.
Ltd.
(a)
....
1,314
26,712
Seah
Besteel
Corp.
............
540
14,750
Shinhan
Financial
Group
Co.
Ltd.
...
627
21,251
SK
Hynix,
Inc.
................
432
42,291
SK
Innovation
Co.
Ltd.
(a)
.........
465
102,589
SK
Telecom
Co.
Ltd.
............
57
14,930
1,739,356
Taiwan
—
13.3%
AU
Optronics
Corp.
............
13,000
9,636
Cathay
Financial
Holding
Co.
Ltd.
...
80,000
155,705
CTBC
Financial
Holding
Co.
Ltd.
(a)
..
38,000
31,118
Delta
Electronics,
Inc.
...........
15,000
154,559
E.Sun
Financial
Holding
Co.
Ltd.
(a)
..
18,000
17,072
Eva
Airways
Corp.
.............
53,000
34,629
Evergreen
Marine
Corp.
Taiwan
Ltd.
(a)
2,000
9,512
Hotai
Motor
Co.
Ltd.
............
1,000
21,169
MediaTek
,
Inc.
................
6,000
196,187
Novatek
Microelectronics
Corp.
(a)
...
2,000
36,791
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
..................
36,000
752,382
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.,
ADR
..............
443
51,672
Tung
Ho
Steel
Enterprise
Corp.
....
35,000
58,577
United
Microelectronics
Corp.
.....
16,000
33,458
1,562,467
Thailand
—
1.9%
Home
Product
Center
PCL,
NVDR
..
182,400
73,898
Kasikornbank
PCL,
NVDR
........
15,300
47,913
Siam
Cement
PCL
(The),
NVDR
....
8,300
104,648
226,459
BlackRock
Advantage
ESG
Emerging
Markets
Equity
Fund
4
(Percentages
shown
are
based
on
Net
Assets)
Schedule
of
Investments
(unaudited)
(continued)
July
31,
2021
Security
Shares
Shares
Value
Turkey
—
0.3%
Anadolu
Efes
Biracilik
ve
Malt
Sanayii
A/S
.....................
5,306
$
13,992
Arcelik
A/S
..................
4,817
18,871
32,863
Total
Common
Stocks
—
93.6%
(Cost:
$10,452,455)
..............................
11,011,323
Investment
Companies
—
2.0%
iShares
MSCI
Saudi
Arabia
ETF
(d)
..
5,989
238,003
Total
Investment
Companies
—
2.0%
(Cost:
$171,147)
................................
238,003
Preferred
Stocks
—
1.3%
Brazil
—
1.2%
Banco
Bradesco
SA
(Preference)
...
28,677
133,907
Cia
Energetica
de
Minas
Gerais
(Preference)
...............
1,572
3,610
Cia
Paranaense
de
Energia
(Preference)
...............
1,471
1,723
139,240
Security
Shares
Shares
Value
Chile
—
0.1%
Sociedad
Quimica
y
Minera
de
Chile
SA
(Preference)
...............
194
$
9,267
Total
Preferred
Stocks
—
1.3%
(Cost:
$137,956)
................................
148,507
Total
Long-Term
Investments
—
96.9%
(Cost:
$10,761,558)
..............................
11,397,833
Short-Term
Securities
—
2.6%
(d)(e)
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class,
0.01%
......
214,006
214,006
SL
Liquidity
Series,
LLC,
Money
Market
Series,
0.12%
(f)
.............
92,823
92,851
Total
Short-Term
Securities
—
2.6%
(Cost:
$306,857)
................................
306,857
Total
Investments
—
99.5%
(Cost:
$11,068,415)
..............................
11,704,690
Other
Assets
Less
Liabilities
—
0.5%
...................
60,789
Net
Assets
—
100.0%
..............................
$
11,765,479
(a)
Non-income
producing
security.
(b)
Security
exempt
from
registration
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933,
as
amended.
These
securities
may
be
resold
in
transactions
exempt
from
registration
to
qualified
institutional
investors.
(c)
All
or
a
portion
of
this
security
is
on
loan.
(d)
Affiliate
of
the
Fund.
(e)
Annualized
7-day
yield
as
of
period
end.
(f)
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
July
31,
2021
for
purposes
of
Section
2(a)(3)
of
the
Investment
Company
Act
of
1940,
as
amended,
were
as
follows:
Affiliated
Issuer
Value
at
04/30/21
Purchases
at
Cost
Proceeds
from
Sale
Net
Realized
Gain
(Loss)
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
07/31/21
Shares
Held
at
07/31/21
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Liquidity
Funds,
T-Fund,
Institutional
Class
(a)
..
$
379,782
$
—
$
(165,776)
$
—
$
—
$
214,006
214,006
$
6
$
—
SL
Liquidity
Series,
LLC,
Money
Market
Series
(a)
..........
—
92,851
—
—
—
92,851
92,823
116
(b)
—
iShares
MSCI
Saudi
Arabia
ETF
.
237,410
—
(11,685)
3,255
9,023
238,003
5,989
2,298
—
$
3,255
$
9,023
$
544,860
$
2,420
$
—
—
—
(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.
BlackRock
Advantage
ESG
Emerging
Markets
Equity
Fund
5
Schedule
of
Investments
(unaudited)
(continued)
July
31,
2021
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
MSCI
Emerging
Markets
E-Mini
Index
............................................
6
09/17/21
$
383
$
(23,301)
Glossary
of
Terms
Used
in
this
Report
Portfolio
Abbreviations
ADR
American
Depositary
Receipts
ETF
Exchange-Traded
Fund
GDR
Global
Depositary
Receipts
MSCI
Morgan
Stanley
Capital
International
NVDR
Non-Voting
Depository
Receipts
PCL
Public
Company
Limited
PJSC
Public
Joint
Stock
Company
BlackRock
Advantage
ESG
Emerging
Markets
Equity
Fund
6
Schedule
of
Investments
(unaudited)
(continued)
July
31,
2021
Fair
Value
Hierarchy
as
of
Period
End
Various
inputs
are
used
in
determining
the
fair
value
of
financial
instruments.
These
inputs
to
valuation
techniques
are
categorized
into
a
fair
value
hierarchy
consisting
of
three
broad
levels
for
financial
reporting
purposes
as
follows:
•
Level
1
—
Unadjusted
price
quotations
in
active
markets/exchanges
for
identical
assets
or
liabilities
that
the
Fund
has
the
ability
to
access;
•
Level
2
—
Other
observable
inputs
(including,
but
not
limited
to,
quoted
prices
for
similar
assets
or
liabilities
in
markets
that
are
active,
quoted
prices
for
identical
or
similar
assets
or
liabilities
in
markets
that
are
not
active,
inputs
other
than
quoted
prices
that
are
observable
for
the
assets
or
liabilities
(such
as
interest
rates,
yield
curves,
volatilities,
prepayment
speeds,
loss
severities,
credit
risks
and
default
rates)
or
other
market-corroborated
inputs);
and
•
Level
3
—
Unobservable
inputs
based
on
the
best
information
available
in
the
circumstances,
to
the
extent
observable
inputs
are
not
available
(including
the
BlackRock
Global
Valuation
Methodologies
Committee's
(the
"Global
Valuation
Committee's")
assumptions
used
in
determining
the
fair
value
of
financial
instruments).
The
hierarchy
gives
the
highest
priority
to
unadjusted
quoted
prices
in
active
markets
for
identical
assets
or
liabilities
(Level
1
measurements)
and
the
lowest
priority
to
unobservable
inputs
(Level
3
measurements).
Accordingly,
the
degree
of
judgment
exercised
in
determining
fair
value
is
greatest
for
instruments
categorized
in
Level
3.
The
inputs
used
to
measure
fair
value
may
fall
into
different
levels
of
the
fair
value
hierarchy.
In
such
cases,
for
disclosure
purposes,
the
fair
value
hierarchy
classification
is
determined
based
on
the
lowest
level
input
that
is
significant
to
the
fair
value
measurement
in
its
entirety.
Investments
classified
within
Level
3
have
significant
unobservable
inputs
used
by
the
Global
Valuation
Committee
in
determining
the
price
for
Fair
Valued
Investments.
Level
3
investments
include
equity
or
debt
issued
by
privately
held
companies
or
funds.
There
may
not
be
a
secondary
market,
and/or
there
are
a
limited
number
of
investors.
The
categorization
of
a
value
determined
for
financial
instruments
is
based
on
the
pricing
transparency
of
the
financial
instruments
and
is
not
necessarily
an
indication
of
the
risks
associated
with
investing
in
those
securities.
For
information
about
the
Fund’s
policy
regarding
valuation
of
financial
instruments,
refer
to
its
most
recent
financial
statements.
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:
Common
Stocks:
Brazil
...............................................
$
388,826
$
—
$
—
$
388,826
Chile
...............................................
201,287
—
—
201,287
China
...............................................
475,409
3,487,331
—
3,962,740
Colombia
............................................
7,112
—
—
7,112
Greece
..............................................
—
69,723
—
69,723
Hungary
.............................................
—
71,199
—
71,199
India
...............................................
151,432
1,029,912
—
1,181,344
Indonesia
............................................
—
58,628
—
58,628
Malaysia
.............................................
245,206
74,818
—
320,024
Mexico
..............................................
282,237
—
—
282,237
Peru
................................................
10,197
—
—
10,197
Poland
..............................................
—
30,981
—
30,981
Qatar
...............................................
41,724
6,461
—
48,185
Russia
..............................................
—
255,907
—
255,907
South
Africa
...........................................
230,801
330,987
—
561,788
South
Korea
..........................................
131,721
1,607,635
—
1,739,356
Taiwan
..............................................
51,672
1,510,795
—
1,562,467
Thailand
.............................................
—
226,459
—
226,459
Turkey
..............................................
13,992
18,871
—
32,863
Investment
Companies
....................................
238,003
—
—
238,003
Preferred
Stocks
.........................................
148,507
—
—
148,507
Short-Term
Securities
.......................................
214,006
—
—
214,006
$
2,832,132
$
8,779,707
$
—
$
11,611,839
BlackRock
Advantage
ESG
Emerging
Markets
Equity
Fund
7
Schedule
of
Investments
(unaudited)
(continued)
July
31,
2021
Level
1
Level
2
Level
3
Total
Investments
Valued
at
Net
Asset
Value
("NAV")
(a)
........................
92,851
$
—
$
11,704,690
$
—
Derivative
Financial
Instruments
(b)
Liabilities:
Equity
contracts
...........................................
$
(23,301)
$
—
$
—
$
(23,301)
(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.