Schedule of Investments (unaudited) July 31, 2021 | BlackRock Advantage Emerging Markets Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Australia — 0.1% | ||||||||
MMG Ltd.(a) | 220,000 | $ | 112,187 | |||||
|
| |||||||
Brazil — 2.4% | ||||||||
Ambev SA | 94,436 | 301,717 | ||||||
B3 SA - Brasil Bolsa Balcao | 53,849 | 157,672 | ||||||
Banco Bradesco SA, ADR | 40,660 | 189,882 | ||||||
Banco do Brasil SA | 153,822 | 934,170 | ||||||
BRF SA(a) | 5,807 | 28,565 | ||||||
Cia de Saneamento de Minas Gerais-COPASA | 183,142 | 487,371 | ||||||
Cia Siderurgica Nacional SA | 13,925 | 124,993 | ||||||
Cielo SA | 53,500 | 34,720 | ||||||
CPFL Energia SA | 120,470 | 585,667 | ||||||
Energisa SA | 18,510 | 151,932 | ||||||
Fleury SA | 29,249 | 131,187 | ||||||
Klabin SA(a) | 75,349 | 353,869 | ||||||
Porto Seguro SA | 8,530 | 84,608 | ||||||
Telefonica Brasil SA | 7,143 | 56,519 | ||||||
Ultrapar Participacoes SA | 135,664 | 460,527 | ||||||
Ultrapar Participacoes SA, ADR | 16,343 | 55,893 | ||||||
|
| |||||||
4,139,292 | ||||||||
Chile — 1.8% | ||||||||
Banco de Chile | 1,443,629 | 132,210 | ||||||
Banco de Chile, ADR | 8,206 | 149,677 | ||||||
Banco Santander Chile | 14,147,439 | 698,158 | ||||||
Banco Santander Chile, ADR | 30,904 | 603,864 | ||||||
CAP SA | 7,171 | 124,260 | ||||||
Empresas CMPC SA | 24,197 | 52,291 | ||||||
Enel Americas SA | 2,024,012 | 281,298 | ||||||
Enel Americas SA, ADR | 85,333 | 583,678 | ||||||
Enel Chile SA | 5,001,510 | 259,604 | ||||||
Falabella SA | 79,185 | 307,814 | ||||||
|
| |||||||
3,192,854 | ||||||||
China — 30.3% | ||||||||
3SBio, Inc.(a)(b) | 363,000 | 302,458 | ||||||
AAC Technologies Holdings, Inc. | 96,000 | 576,202 | ||||||
Airtac International Group | 10,000 | 323,155 | ||||||
Alibaba Group Holding Ltd.(a) | 300,820 | 7,346,852 | ||||||
Angang Steel Co. Ltd., Class H | 1,024,000 | 700,078 | ||||||
Anta Sports Products Ltd. | 20,000 | 435,427 | ||||||
BAIC Motor Corp. Ltd., Class H(b) | 562,000 | 200,634 | ||||||
Baidu, Inc., ADR(a) | 11,292 | 1,852,001 | ||||||
Baidu, Inc., Class A(a) | 16,400 | 336,036 | ||||||
Beijing Enterprises Holdings Ltd. | 140,000 | 435,474 | ||||||
Beijing New Building Materials PLC, Class A | 12,700 | 63,947 | ||||||
BYD Co. Ltd., Class H | 3,000 | 92,725 | ||||||
China Construction Bank Corp., Class H | 464,000 | 323,196 | ||||||
China Feihe Ltd.(b) | 83,000 | 159,568 | ||||||
China Life Insurance Co. Ltd., Class H | 199,000 | 331,682 | ||||||
China Mengniu Dairy Co. Ltd. | 46,000 | 249,753 | ||||||
China Molybdenum Co. Ltd., Class H | 108,000 | 79,050 | ||||||
China Petroleum & Chemical Corp., Class A | 361,900 | 223,282 | ||||||
China Petroleum & Chemical Corp., Class H | 386,000 | 176,506 | ||||||
China Resources Gas Group Ltd. | 28,000 | 172,587 | ||||||
China Resources Land Ltd. | 50,000 | 167,093 | ||||||
China Resources Pharmaceutical Group Ltd.(b) | 532,500 | 285,215 | ||||||
China Yongda Automobiles Services Holdings Ltd. | 129,500 | 241,806 | ||||||
COSCO SHIPPING Holdings Co. Ltd., Class H(a) | 197,200 | 297,478 | ||||||
Country Garden Services Holdings Co. Ltd. | 80,000 | 649,591 | ||||||
CSPC Pharmaceutical Group Ltd. | 422,720 | 570,604 | ||||||
East Money Information Co. Ltd., Class A | 180,500 | 869,374 |
Security | Shares | Value | ||||||
China (continued) | ||||||||
G-bits Network Technology Xiamen Co. Ltd., Class A | 3,100 | $ | 211,781 | |||||
Geely Automobile Holdings Ltd. | 43,000 | 144,239 | ||||||
Great Wall Motor Co. Ltd., Class H | 75,000 | 362,367 | ||||||
Guangzhou Automobile Group Co. Ltd., Class H | 94,000 | 81,477 | ||||||
Haier Smart Home Co. Ltd., Class H | 47,000 | 161,195 | ||||||
Hangzhou Tigermed Consulting Co. Ltd., Class H(b) | 11,800 | 229,161 | ||||||
Huatai Securities Co. Ltd., Class H(b) | 58,800 | 77,911 | ||||||
Hunan Valin Steel Co. Ltd., Class A | 303,200 | 360,228 | ||||||
Industrial Bank Co. Ltd., Class A | 427,100 | 1,169,197 | ||||||
JCET Group Co. Ltd., Class A | 81,100 | 493,644 | ||||||
JD.com, Inc., ADR(a) | 22,298 | 1,580,482 | ||||||
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A | 6,800 | 171,954 | ||||||
Joinn Laboratories China Co. Ltd., Class H(b) | 2,640 | 44,186 | ||||||
KE Holdings, Inc., ADR(a) | 3,292 | 72,391 | ||||||
Lenovo Group Ltd. | 1,352,000 | 1,260,716 | ||||||
Li Ning Co. Ltd. | 138,000 | 1,457,461 | ||||||
Luye Pharma Group Ltd.(a)(b) | 129,500 | 69,648 | ||||||
Meituan, Class B(a)(b) | 20,700 | 572,798 | ||||||
NetEase, Inc., ADR | 13,555 | 1,385,457 | ||||||
New China Life Insurance Co. Ltd., Class H | 50,500 | 138,178 | ||||||
NIO, Inc., ADR(a) | 14,742 | 658,673 | ||||||
PetroChina Co. Ltd., ADR | 6,089 | 254,764 | ||||||
PetroChina Co. Ltd., Class H | 1,742,000 | 727,706 | ||||||
Ping An Bank Co. Ltd., Class A | 42,800 | 117,190 | ||||||
Ping An Insurance Group Co. of China Ltd., Class A | 56,400 | 469,173 | ||||||
Ping An Insurance Group Co. of China Ltd., Class H | 129,000 | 1,128,858 | ||||||
RiseSun Real Estate Development Co. Ltd., Class A | 1 | 1 | ||||||
SAIC Motor Corp. Ltd., Class A | 46,900 | 133,369 | ||||||
Shandong Hualu Hengsheng Chemical Co. Ltd., Class A | 32,000 | 153,612 | ||||||
Shandong Nanshan Aluminum Co. Ltd., Class A | 784,700 | 622,572 | ||||||
Shandong Sun Paper Industry JSC Ltd., Class A | 50,200 | 90,059 | ||||||
Shanghai Haohai Biological Technology Co. Ltd., Class H(b) | 8,700 | 91,205 | ||||||
Shanghai Junshi Biosciences Co. Ltd., Class H(a)(b) | 9,800 | 66,094 | ||||||
Shanghai Pudong Development Bank Co. Ltd., Class A | 118,300 | 165,444 | ||||||
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | 16,100 | 975,488 | ||||||
Sinoma Science & Technology Co. Ltd., Class A | 27,226 | 108,115 | ||||||
Sunac China Holdings Ltd. | 696,000 | 1,805,947 | ||||||
TAL Education Group, ADR(a) | 13,131 | 79,705 | ||||||
TCL Technology Group Corp., Class A | 507,200 | 580,996 | ||||||
Tencent Holdings Ltd. | 142,200 | 8,575,819 | ||||||
Tingyi Cayman Islands Holding Corp. | 234,000 | 421,883 | ||||||
TongFu Microelectronics Co. Ltd., Class A | 13,000 | 46,885 | ||||||
Topsports International Holdings Ltd.(b) | 53,000 | 73,964 | ||||||
Vipshop Holdings Ltd., ADR(a) | 12,125 | 201,639 | ||||||
West China Cement Ltd | 1,328,000 | 198,480 | ||||||
WuXi AppTec Co. Ltd., Class H(b) | 68,080 | 1,509,013 | ||||||
Wuxi Biologics Cayman, Inc.(a)(b) | 105,500 | 1,611,433 | ||||||
Xiabuxiabu Catering Management China Holdings Co. Ltd.(b) | 118,500 | 105,560 | ||||||
Xiaomi Corp., Class B(a)(b) | 154,800 | 507,013 | ||||||
XPeng, Inc., ADR(a) | 6,487 | 262,918 | ||||||
Xtep International Holdings Ltd. | 62,500 | 86,917 | ||||||
Yum China Holdings, Inc. | 8,320 | 517,421 | ||||||
Yunnan Aluminium Co. Ltd., Class A(a) | 23,700 | 52,364 | ||||||
Zhejiang Weixing New Building Materials Co. Ltd., Class A | 165,405 | 488,946 | ||||||
Zhongsheng Group Holdings Ltd. | 7,500 | 69,122 | ||||||
Zhuzhou Kibing Group Co. Ltd., Class A | 42,500 | 137,035 |
1
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock Advantage Emerging Markets Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
China (continued) | ||||||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class A | 467,745 | $ | 552,698 | |||||
Zoomlion Heavy Industry Science and Technology Co. Ltd., Class H | 669,800 | 576,876 | ||||||
ZTE Corp., Class A(a) | 90,000 | 541,794 | ||||||
ZTE Corp., Class H | 51,000 | 182,212 | ||||||
|
| |||||||
52,455,208 | ||||||||
Colombia — 0.1% | ||||||||
Bancolombia SA, ADR | 8,295 | 235,993 | ||||||
|
| |||||||
Hong Kong — 0.7% | ||||||||
China Gas Holdings Ltd. | 55,800 | 171,796 | ||||||
Sino Biopharmaceutical Ltd. | 1,170,000 | 993,911 | ||||||
|
| |||||||
1,165,707 | ||||||||
Hungary — 0.3% | ||||||||
MOL Hungarian Oil & Gas PLC(a) | 59,794 | 476,368 | ||||||
|
| |||||||
India — 10.1% | ||||||||
Amara Raja Batteries Ltd. | 19,085 | 184,795 | ||||||
Asian Paints Ltd. | 44,401 | 1,766,642 | ||||||
Axis Bank Ltd.(a) | 23,542 | 224,795 | ||||||
Bharat Forge Ltd. | 31,470 | 327,138 | ||||||
Cadila Healthcare Ltd. | 11,607 | 91,492 | ||||||
Colgate-Palmolive India Ltd. | 12,973 | 297,405 | ||||||
Dabur India Ltd. | 94,589 | 764,197 | ||||||
HDFC Bank Ltd. | 51,354 | 988,266 | ||||||
HDFC Bank Ltd., ADR | 10,300 | 726,871 | ||||||
HDFC Life Insurance Co. Ltd.(b) | 62,776 | 560,749 | ||||||
Hindalco Industries Ltd. | 15,716 | 94,160 | ||||||
Housing Development Finance Corp. Ltd. | 95,447 | 3,142,079 | ||||||
ICICI Bank Ltd. | 8,602 | 79,124 | ||||||
ICICI Prudential Life Insurance Co. | 6,088 | 51,832 | ||||||
IndusInd Bank Ltd. | 19,251 | 254,488 | ||||||
Infosys Ltd. | 66,946 | 1,459,014 | ||||||
Infosys Ltd., ADR | 34,653 | 766,524 | ||||||
ITC Ltd. | 70,908 | 195,513 | ||||||
Kalpataru Power Transmission Ltd. | 14,373 | 91,235 | ||||||
Kotak Mahindra Bank Ltd. | 33,779 | 753,106 | ||||||
Marico Ltd. | 67,431 | 496,093 | ||||||
National Aluminium Co. Ltd. | 290,844 | 366,470 | ||||||
Rallis India Ltd. | 41,026 | 179,052 | ||||||
Tata Consultancy Services Ltd. | 66,762 | 2,846,309 | ||||||
Thermax Ltd. | 4,666 | 89,076 | ||||||
TVS Motor Co. Ltd. | 34,204 | 266,903 | ||||||
UPL Ltd. | 41,816 | 455,566 | ||||||
|
| |||||||
17,518,894 | ||||||||
Malaysia — 1.7% | ||||||||
CIMB Group Holdings Bhd | 565,800 | 596,242 | ||||||
Malayan Banking Bhd | 490,400 | 930,830 | ||||||
Public Bank Bhd | 1,019,100 | 961,142 | ||||||
RHB Bank Bhd | 264,900 | 320,768 | ||||||
Sime Darby Bhd | 425,900 | 216,993 | ||||||
|
| |||||||
3,025,975 | ||||||||
Mexico — 1.8% | ||||||||
Alfa SAB de CV, Class A | 148,479 | 113,077 | ||||||
Arca Continental SAB de CV | 99,785 | 603,836 | ||||||
Cemex SAB de CV(a) | 297,537 | 242,738 | ||||||
Cemex SAB de CV, ADR(a) | 46,145 | 375,159 | ||||||
Coca-Cola Femsa SAB de CV | 60,696 | 344,090 |
Security | Shares | Value | ||||||
Mexico (continued) | ||||||||
Coca-Cola Femsa SAB de CV, ADR | 9,950 | $ | 562,871 | |||||
Fomento Economico Mexicano SAB de CV | 38,462 | 335,577 | ||||||
Grupo Bimbo SAB de CV, Series A | 201,024 | 463,321 | ||||||
|
| |||||||
3,040,669 | ||||||||
Peru — 0.1% | ||||||||
Hochschild Mining PLC | 60,787 | 130,230 | ||||||
|
| |||||||
Poland — 0.2% | ||||||||
Bank Polska Kasa Opieki SA | 14,752 | 360,293 | ||||||
|
| |||||||
Romania — 0.3% | ||||||||
NEPI Rockcastle PLC | 70,022 | 473,624 | ||||||
|
| |||||||
Russia — 2.8% | ||||||||
Alrosa AO(a) | 445,450 | 788,979 | ||||||
LUKOIL PJSC | 14,407 | 1,237,064 | ||||||
LUKOIL PJSC, ADR | 13,708 | 1,174,581 | ||||||
MMC Norilsk Nickel PJSC | 1,279 | 442,067 | ||||||
Novatek PJSC, GDR, Registered Shares | 1,843 | 410,117 | ||||||
PhosAgro PJSC, GDR, Registered Shares | 4,169 | 79,336 | ||||||
Severstal PAO | 3,839 | 93,903 | ||||||
Sistema PJSFC | 1,178,368 | 475,185 | ||||||
Tatneft PJSC | 27,200 | 181,602 | ||||||
|
| |||||||
4,882,834 | ||||||||
Saudi Arabia — 1.9% | ||||||||
Al Rajhi Bank | 46,140 | 1,365,063 | ||||||
Saudi Arabian Mining Co.(a) | 8,904 | 165,438 | ||||||
Saudi Basic Industries Corp. | 37,882 | 1,218,490 | ||||||
Saudi National Bank | 36,041 | 528,545 | ||||||
|
| |||||||
3,277,536 | ||||||||
South Africa — 5.4% | ||||||||
Absa Group Ltd.(a) | 55,843 | 519,525 | ||||||
Anglo American Platinum Ltd. | 949 | 124,196 | ||||||
AngloGold Ashanti Ltd. | 8,332 | 166,838 | ||||||
AngloGold Ashanti Ltd., ADR | 16,060 | 322,003 | ||||||
AVI Ltd. | 73,961 | 366,290 | ||||||
Barloworld Ltd. | 45,874 | 338,405 | ||||||
FirstRand Ltd. | 190,851 | 708,108 | ||||||
Foschini Group Ltd. | 10,232 | 108,006 | ||||||
Gold Fields Ltd. | 26,240 | 259,140 | ||||||
Growthpoint Properties Ltd. | 121,766 | 122,587 | ||||||
Investec Ltd. | 39,348 | 146,806 | ||||||
Mr Price Group Ltd. | 18,561 | 276,174 | ||||||
Naspers Ltd., N Shares | 14,217 | 2,743,600 | ||||||
Nedbank Group Ltd.(a) | 12,381 | 143,145 | ||||||
Netcare Ltd.(a) | 321,294 | 334,205 | ||||||
Old Mutual Ltd. | 444,130 | 391,650 | ||||||
Sanlam Ltd. | 90,107 | 355,969 | ||||||
Shoprite Holdings Ltd. | 12,455 | 136,356 | ||||||
Standard Bank Group Ltd. | 171,285 | 1,443,605 | ||||||
Telkom SA SOC Ltd.(a) | 27,064 | 78,285 | ||||||
Truworths International Ltd. | 23,656 | 99,783 | ||||||
Vodacom Group Ltd. | 14,716 | 131,217 | ||||||
|
| |||||||
9,315,893 | ||||||||
South Korea — 14.7% | ||||||||
CJ CheilJedang Corp. | 330 | 134,162 | ||||||
CJ Logistics Corp.(a) | 1,776 | 271,793 | ||||||
Doosan Bobcat, Inc.(a) | 12,404 | 498,253 | ||||||
Doosan Co. Ltd. | 1,974 | 166,332 | ||||||
Hyundai Construction Equipment Co. | 7,076 | 348,702 |
SCHEDULE OF INVESTMENTS | 2 |
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock Advantage Emerging Markets Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
South Korea (continued) | ||||||||
Hyundai Elevator Co. Ltd. | 29 | $ | 1,363 | |||||
Hyundai Glovis Co. Ltd. | 3,259 | 552,337 | ||||||
Hyundai Mobis Co. Ltd. | 4,561 | 1,059,680 | ||||||
Kia Corp. | 4,821 | 352,081 | ||||||
KT Corp. | 11,032 | 324,083 | ||||||
KT Corp., ADR | 54,724 | 787,478 | ||||||
LG Chem Ltd. | 1,882 | 1,382,336 | ||||||
LG Display Co. Ltd.(a) | 4,578 | 87,962 | ||||||
LG Hausys Ltd. | 308 | 26,767 | ||||||
LG Household & Health Care Ltd. | 183 | 232,121 | ||||||
LG Innotek Co. Ltd. | 1,668 | 329,702 | ||||||
LS Electric Co. Ltd. | 2,718 | 153,656 | ||||||
Medy-Tox, Inc. | 314 | 55,250 | ||||||
NAVER Corp. | 4,022 | 1,515,897 | ||||||
POSCO | 5,911 | 1,880,033 | ||||||
Posco International Corp. | 11,722 | 263,977 | ||||||
Samsung C&T Corp. | 786 | 96,824 | ||||||
Samsung Electronics Co. Ltd. | 142,118 | 9,711,831 | ||||||
Samsung Electronics Co. Ltd., Registered Shares, GDR | 235 | 402,717 | ||||||
Seah Besteel Corp. | 4,261 | 116,384 | ||||||
Shinhan Financial Group Co. Ltd. | 18,225 | 617,703 | ||||||
SK Hynix, Inc. | 5,080 | 497,313 | ||||||
SK Innovation Co. Ltd.(a) | 5,492 | 1,211,649 | ||||||
SK Telecom Co. Ltd. | 792 | 207,452 | ||||||
S-Oil Corp.(a) | 24,907 | 2,126,673 | ||||||
|
| |||||||
25,412,511 | ||||||||
Taiwan — 12.9% | ||||||||
AU Optronics Corp. | 176,000 | 130,458 | ||||||
Bizlink Holding, Inc. | 47,000 | 433,928 | ||||||
China Steel Corp. | 348,000 | 453,851 | ||||||
Eclat Textile Co. Ltd. | 8,000 | 174,664 | ||||||
Evergreen Marine Corp. Taiwan Ltd. | 131,000 | 623,040 | ||||||
Faraday Technology Corp. | 61,000 | 246,945 | ||||||
Formosa Plastics Corp. | 31,000 | 110,889 | ||||||
Gourmet Master Co. Ltd. | 10,000 | 52,617 | ||||||
Kinsus Interconnect Technology Corp. | 17,000 | 112,576 | ||||||
Lotus Pharmaceutical Co. Ltd. | 14,000 | 73,429 | ||||||
Makalot Industrial Co. Ltd. | 21,926 | 186,626 | ||||||
MediaTek, Inc. | 54,000 | 1,765,684 | ||||||
Micro-Star International Co. Ltd. | 67,000 | 355,953 | ||||||
Nan Ya Plastics Corp. | 192,000 | 599,205 | ||||||
Nanya Technology Corp. | 344,000 | 894,978 | ||||||
Novatek Microelectronics Corp. | 28,000 | 515,069 | ||||||
Parade Technologies Ltd. | 4,000 | 245,625 | ||||||
Primax Electronics Ltd. | 365,000 | 804,879 | ||||||
Realtek Semiconductor Corp. | 52,000 | 1,097,917 | ||||||
Sitronix Technology Corp. | 6,000 | 82,868 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 490,000 | 10,240,753 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd., ADR | 6,552 | 764,225 | ||||||
Uni-President Enterprises Corp. | 480,000 | 1,258,864 | ||||||
Visual Photonics Epitaxy Co. Ltd. | 214,000 | 1,050,130 | ||||||
|
| |||||||
22,275,173 |
Security | Shares | Value | ||||||
Thailand — 0.8% | ||||||||
Siam Cement PCL, NVDR | 107,800 | $ | 1,359,161 | |||||
|
| |||||||
Turkey — 0.2% | ||||||||
Arcelik AS | 85,527 | 335,062 | ||||||
Turkcell Iletisim Hizmetleri A/S | 27,428 | 50,171 | ||||||
|
| |||||||
385,233 | ||||||||
United Arab Emirates — 0.5% | ||||||||
Abu Dhabi Commercial Bank PJSC | 49,787 | 95,151 | ||||||
Aldar Properties PJSC | 221,657 | 239,238 | ||||||
Dubai Islamic Bank PJSC | 33,388 | 43,897 | ||||||
Emaar Properties PJSC | 47,249 | 51,073 | ||||||
Emirates Telecommunications Group Co. PJSC | 32,999 | 204,832 | ||||||
First Abu Dhabi Bank PJSC | 50,573 | 228,278 | ||||||
|
| |||||||
862,469 | ||||||||
|
| |||||||
Total Common Stocks — 89.1% | 154,098,104 | |||||||
|
| |||||||
Preferred Securities | ||||||||
Preferred Stocks — 1.8% | ||||||||
Brazil — 1.8% | ||||||||
Banco Bradesco SA, Preference Shares | 440,896 | 2,052,845 | ||||||
Gerdau SA, Preference Shares | 22,527 | 133,218 | ||||||
Petroleo Brasileiro SA, Preference Shares | 175,136 | 904,893 | ||||||
|
| |||||||
3,090,956 | ||||||||
|
| |||||||
Chile — 0.0% | ||||||||
Sociedad Quimica y Minera de Chile SA, Preference Shares Class B | 2,270 | 108,432 | ||||||
|
| |||||||
Total Preferred Securities — 1.8% | 3,199,388 | |||||||
|
| |||||||
Total Long-Term Investments — 90.9% | 157,297,492 | |||||||
|
| |||||||
Short-Term Securities | ||||||||
Money Market Funds — 6.0% | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.01%(c)(d) | 10,425,017 | 10,425,017 | ||||||
|
| |||||||
Total Short-Term Securities — 6.0% | 10,425,017 | |||||||
|
| |||||||
Total Investments — 96.9% | 167,722,509 | |||||||
Other Assets Less Liabilities — 3.1% | 5,291,655 | |||||||
|
| |||||||
Net Assets — 100.0% | $ | 173,014,164 | ||||||
|
|
(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) | Affiliate of the Fund. |
(d) | Annualized 7-day yield as of period end. |
3
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock Advantage Emerging Markets Fund |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| ||||||||||||||||||||||||||||||||||||
Affiliated Issuer | | Value at 04/30/21 | | | Purchases at Cost | | | Proceeds from Sales | | | Net Realized | | | Change in 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 | $ | 13,397,402 | $ | — | $ | (2,972,385 | )(a) | $ | — | $ | — | $ | 10,425,017 | 10,425,017 | $ | 110 | $ | — | ||||||||||||||||||
SL Liquidity Series, LLC, Money Market Series(b) | — | — | — | — | — | — | — | 1,513 | (c) | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | — | $ | — | $ | 10,425,017 | $ | 1,623 | $ | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
(b) | As of period end, the entity is no longer held. |
(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. |
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 Index. | 192 | 09/17/21 | $ | 12,266 | $ | (661,966 | ) | |||||||||
|
|
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
• | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access; |
• | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and |
• | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Australia | $ | — | $ | 112,187 | $ | — | $ | 112,187 | ||||||||
Brazil | 4,139,292 | — | — | 4,139,292 |
SCHEDULE OF INVESTMENTS | 4 |
Schedule of Investments (unaudited) (continued) July 31, 2021 | BlackRock Advantage Emerging Markets Fund |
Fair Value Hierarchy as of Period End (continued)
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Common Stocks (continued) | ||||||||||||||||
Chile | $ | 3,192,854 | $ | — | $ | — | $ | 3,192,854 | ||||||||
China | 7,038,038 | 45,417,170 | — | 52,455,208 | ||||||||||||
Colombia | 235,993 | — | — | 235,993 | ||||||||||||
Hong Kong | — | 1,165,707 | — | 1,165,707 | ||||||||||||
Hungary | — | 476,368 | — | 476,368 | ||||||||||||
India | 1,493,395 | 16,025,499 | — | 17,518,894 | ||||||||||||
Malaysia | 2,212,740 | 813,235 | — | 3,025,975 | ||||||||||||
Mexico | 3,040,669 | — | — | 3,040,669 | ||||||||||||
Peru | — | 130,230 | — | 130,230 | ||||||||||||
Poland | — | 360,293 | — | 360,293 | ||||||||||||
Romania | 473,624 | — | — | 473,624 | ||||||||||||
Russia | 79,336 | 4,803,498 | — | 4,882,834 | ||||||||||||
Saudi Arabia | 528,545 | 2,748,991 | — | 3,277,536 | ||||||||||||
South Africa | 3,785,228 | 5,530,665 | — | 9,315,893 | ||||||||||||
South Korea | 1,019,599 | 24,392,912 | — | 25,412,511 | ||||||||||||
Taiwan | 764,225 | 21,510,948 | — | 22,275,173 | ||||||||||||
Thailand | — | 1,359,161 | — | 1,359,161 | ||||||||||||
Turkey | — | 385,233 | — | 385,233 | ||||||||||||
United Arab Emirates | 528,261 | 334,208 | — | 862,469 | ||||||||||||
Preferred Securities | ||||||||||||||||
Preferred Stocks | 3,199,388 | — | — | 3,199,388 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 10,425,017 | — | — | 10,425,017 | ||||||||||||
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$ | 42,156,204 | $ | 125,566,305 | $ | — | $ | 167,722,509 | |||||||||
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Derivative Financial Instruments(a) | ||||||||||||||||
Liabilities | ||||||||||||||||
Equity Contracts | $ | (661,966 | ) | $ | — | $ | — | $ | (661,966 | ) | ||||||
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(a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
Portfolio Abbreviation | ||
ADR | American Depositary Receipt | |
GDR | Global Depositary Receipt | |
JSC | Joint Stock Company | |
MSCI | Morgan Stanley Capital International | |
NVDR | Non-Voting Depositary Receipt | |
PCL | Public Company Limited | |
PJSC | Public Joint Stock Company | |
SAB | Special Assessment Bonds |
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