BlackRock Funds III NPORT-P BlackRock Diversified Fixed Income Fund (Jan 2024 report)

Schedule of Investments (unaudited) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Asset-Backed Securities
Affirm Asset Securitization Trust(a)
Series 2022-A, Class 1A, 4.30%, 05/17/27	USD		250	$	247,686
Series 2022-Z1, Class A, 4.55%, 06/15/27			752		744,160
Series 2023-A, Class 1A, 6.61%, 01/18/28			937		941,830
Series 2023-A, Class 1D, 9.09%, 01/18/28			1,000		1,010,205
Series 2023-B, Class A, 6.82%, 09/15/28			250		255,420
Series 2023-B, Class B, 7.44%, 09/15/28			230		234,644
Series 2023-X1, Class A, 7.11%, 11/15/28			1,174		1,177,670
Series 2023-X1, Class C, 8.25%, 11/15/28			235		239,734
Series 2023-X1, Class D, 9.55%, 11/15/28			300		306,700
Ajax Mortgage Loan Trust, Series 2023, 4.25%, 10/25/62(a)(b)			135		130,468
AMSR Trust, Series 2020-SFR4, Class G2, 4.87%, 11/17/37(a)			150		143,347
Arbor Realty Commercial Real Estate Notes Ltd.(a)(c)
Series 2021-FL1, Class A, (1-mo. Term SOFR + 1.08%), 6.45%, 12/15/35			156		154,306
Series 2021-FL4, Class A, (1-mo. Term SOFR + 1.46%), 6.83%, 11/15/36			520		516,100
ARES Loan Funding IV Ltd., Series 2023-ALF4A, Class D, (3-mo. CME Term SOFR + 4.68%), 10.03%, 10/15/36(a)(c)			250		251,556
Argent Mortgage Loan Trust, Series 2005-W1, Class A2, (1-mo. Term SOFR + 0.59%), 5.93%, 05/25/35(c)			173		130,269
Asset-Backed Securities Corp. Home Equity Loan Trust, Series 2004-HE9, Class M1, (1-mo. Term SOFR + 1.09%), 6.43%, 12/25/34(c)			173		155,950
BA Credit Card Trust, Series 2023-A2, Class A2, 4.98%, 11/15/28			126		127,653
Barclays Mortgage Trust, Series 2021-NPL1, Class A, 2.00%, 11/25/51(a)(b)			122		116,100
Bear Stearns Asset-Backed Securities I Trust, Series 2006-HE7, Class 1A2, (1-mo. Term SOFR + 0.45%), 5.81%, 09/25/36(c)			85		84,223
Bear Stearns Asset-Backed Securities Trust, Series 2005-2, Class M5, (1-mo. Term SOFR + 5.36%), 6.87%, 06/25/35(c)			210		210,643
Bear Stearns Structured Products Trust, Series 2007- EMX1, Class M1, (1-mo. Term SOFR + 2.11%), 7.47%, 03/25/37(a)(c)			127		124,643
Benefit Street Partners CLO IV Ltd., Series 2014-IVA, Class ARRR, (3-mo. CME Term SOFR + 1.44%), 6.86%, 01/20/32(a)(c)			500		500,743
Betony CLO 2 Ltd., Series 2018-1A, Class A1, (3-mo. CME Term SOFR + 1.34%), 6.73%, 04/30/31(a)(c)			215		215,143
Blue Bridge Funding LLC, Series 2013-1, Class A, 7.37%, 11/15/30(a)			337		338,310
BlueMountain Fuji U.S. CLO II Ltd., Series 2017-2A, Class A1AR, (3-mo. CME Term SOFR + 1.26%), 6.68%, 10/20/30(a)(c)			212		211,683
Carlyle Global Market Strategies CLO Ltd., Series 2012-3RR, Class A1A2, (3-mo. CME Term SOFR + 1.44%), 6.76%, 01/14/32(a)(c)			249		248,777
CFMT LLC, Series 2023-HB11, Class M2, 4.00%, 02/25/37(a)(c)			100		87,727
CIFC Funding Ltd.(a)(c)
Series 2014-3A, Class A1R2, (3-mo. CME Term SOFR + 1.46%), 6.87%, 10/22/31			246		246,432
Series 2017-1A, Class AR, (3-mo. CME Term SOFR + 1.27%), 6.68%, 04/23/29			131		131,481
Series 2018-3A, Class B, (3-mo. CME Term SOFR + 1.86%), 7.16%, 07/18/31			400		401,400

Security		Par (000)		Value
Asset-Backed Securities (continued)
CIFC Funding Ltd.(a)(c) (continued)
Series 2021-4A, Class A, (3-mo. CME Term SOFR + 1.31%), 6.71%, 07/15/33	USD		250	$	250,223
CIT Mortgage Loan Trust(a)(c)
Series 2007-1, Class 1M2, (1-mo. Term SOFR + 1.86%), 7.20%, 10/25/37			150		136,689
Series 2007-1, Class 2M2, (1-mo. Term SOFR + 1.86%), 7.20%, 10/25/37			676		606,771
Clover CLO LLC, Series 2020-1R, Class AR, (3-mo. CME Term SOFR + 1.42%), 6.82%, 04/15/34(a)(c)			250		249,862
College Avenue Student Loans LLC, Series 2023-B, Class A1A, 6.50%, 06/25/54(a)			98		103,037
Conn’s Receivables Funding LLC, Series 2024-A, Class A, 7.05%, 01/16/29(a)			1,330		1,329,978
Conseco Finance Corp., Series 1998-4, Class M1, 6.83%, 04/01/30(c)			129		121,969
Credit-Based Asset Servicing and Securitization LLC, Series 2006-MH1, Class B2, 6.75%, 10/25/36(a)(b)			372		280,233
CWABS Asset-Backed Certificates Trust(c)
Series 2006-11, Class 1AF4, 6.30%, 12/25/35			288		269,301
Series 2006-13, Class 1AF4, 3.98%, 01/25/37			118		114,185
Series 2006-17, Class 2A2, (1-mo. Term SOFR + 0.41%), 5.77%, 03/25/47			77		75,188
CWHEQ Revolving Home Equity Loan Trust, Series 2006-I, Class 1A, (1-mo. Term SOFR + 0.25%), 5.62%, 01/15/37(c)			1		1,088
Diameter Capital CLO 1 Ltd., Series 2021-1A, Class A1A, (3-mo. CME Term SOFR + 1.50%), 6.90%, 07/15/36(a)(c)			250		250,694
Drive Auto Receivables Trust, Series 2021-3, Class C, 1.47%, 01/15/27			475		465,938
Dryden Senior Loan Fund, Series 2017-50A, Class B, (3-mo. CME Term SOFR + 1.91%), 7.31%, 07/15/30(a)(c)			400		400,520
DT Auto Owner Trust, Series 2023-1A, Class C, 5.55%, 10/16/28(a)			1,000		998,803
Elmwood CLO III Ltd., Series 2019-3A, Class ER, (3-mo. CME Term SOFR + 6.76%), 12.18%, 10/20/34(a)(c)			250		249,241
Elmwood CLO Ltd., Series 2022, Class B, (3-mo. CME Term SOFR + 2.20%), 7.60%, 04/17/36(a)(c)			250		251,147
Equity One Mortgage Pass-Through Trust, Series 2003-3, Class M2, 5.46%, 12/25/33(c)			289		227,061
Exeter Automobile Receivables Trust
Series 2021-2A, Class D, 1.40%, 04/15/27			500		474,012
Series 2022-2A, Class B, 3.65%, 10/15/26			352		350,849
Series 2022-2A, Class C, 3.85%, 07/17/28			500		491,853
Series 2022-4A, Class D, 5.98%, 12/15/28			500		499,997
Series 2022-5A, Class D, 7.40%, 02/15/29			100		102,988
Series 2023-1A, Class D, 6.69%, 06/15/29			100		101,931
Series 2023-2A, Class D, 6.32%, 08/15/29			545		553,366
Series 2023-3, Class D, 6.68%, 04/16/29			400		405,642
Series 2023-4, Class D, 6.95%, 12/17/29			350		361,146
Series 2023-5, Class C, 6.85%, 01/16/29			560		574,526
First Franklin Mortgage Loan Trust, Series 2006-FF13, Class A1, (1-mo. Term SOFR + 0.35%), 5.69%, 10/25/36(c)			30		19,777
FirstKey Homes Trust(a)
Series 2022-SFR1, Class E2, 5.00%, 05/19/39			590		564,413
Series 2022-SFR3, Class E2, 3.50%, 07/17/38			633		578,884
Galaxy XXIII CLO Ltd., Series 2017-23A, Class AR, (3-mo. CME Term SOFR + 1.13%), 6.53%, 04/24/29(a)(c)			101		100,931

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Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Asset-Backed Securities (continued)
Galaxy XXVI CLO Ltd., Series 2018-26A, Class A, (3-mo. CME Term SOFR + 1.46%), 6.83%, 11/22/31(a)(c)	USD		250	$	250,302
Galaxy XXVII CLO Ltd., Series 2018-28A, Class A1, (3-mo. CME Term SOFR + 1.36%), 6.76%, 07/15/31(a)(c)			222		222,134
Generate CLO Ltd., Series 2A, Class AR, (3-mo. CME Term SOFR + 1.41%), 6.82%, 01/22/31(a)(c)			215		215,658
GITSIT Mortgage Loan Trust, Series 2023-NPL1, 8.35%, 05/25/53(a)(b)			46		45,834
Golub Capital Partners CLO Ltd.(a)(c)
Series 2021-55A, Class A, (3-mo. CME Term SOFR + 1.46%), 6.88%, 07/20/34			250		250,286
Series 2023-66A, Class A, (3-mo. CME Term SOFR + 1.95%), 7.33%, 04/25/36			250		251,553
Golub Capital Partners LP, Series 2020-48A, Class A1, (3-mo. CME Term SOFR + 1.57%), 6.97%, 04/17/33(a)(c)			250		250,447
Gracie Point International Funding(a)(c)
Series 2023-1A, Class A, (3-mo. SOFR + 1.95%), 7.30%, 09/01/26			147		147,548
Series 2023-2, Class A, (3-mo. SOFR + 2.25%), 7.60%, 03/01/27			258		259,504
HIG RCP LLC, Series 2023-FL1, Class A, (1-mo. Term SOFR + 2.27%), 7.61%, 09/19/38(a)(c)			300		300,657
Invesco CLO Ltd., Series 2021-3A, Class B, (3-mo. CME Term SOFR + 1.91%), 7.32%, 10/22/34(a)(c)			250		250,799
Invesco Euro CLO, Series 6A, Class D, (3-mo. EURIBOR + 3.05%), 6.99%, 07/15/34(a)(c)	EUR		250		255,100
Lehman Brothers Small Balance Commercial Mortgage Trust, Series 2007-2A, Class M1, (1-mo. Term SOFR + 0.51%), 5.87%, 06/25/37(a)(c)	USD		82		81,216
Lendmark Funding Trust(a)
Series 2022-1A, Class A, 5.12%, 07/20/32			100		99,324
Series 2023-1A, Class D, 8.69%, 05/20/33			131		135,336
Long Beach Mortgage Loan Trust, Series 2006-2, Class 1A, (1-mo. Term SOFR + 0.47%), 5.83%, 03/25/46(c)			126		98,551
Madison Park Funding XLV Ltd., Series 2020-45A, Class AR, (3-mo. CME Term SOFR + 1.38%), 6.78%, 07/15/34(a)(c)			500		500,751
Madison Park Funding XLVI Ltd., Series 2020-46A, Class B1R, (3-mo. CME Term SOFR + 1.91%), 7.31%, 10/15/34(a)(c)			250		250,575
Madison Park Funding XXXIV Ltd.(a)(c)
Series 2019-34A, Class CR, (3-mo. CME Term SOFR + 2.41%), 7.74%, 04/25/32			400		400,134
Series 2019-36A, Class B1R, (3-mo. CME Term SOFR + 1.90%), 7.21%, 04/15/35			390		391,910
Madison Park Funding XXXVIII Ltd., Series 2021-38A, Class A, (3-mo. CME Term SOFR + 1.38%), 6.78%, 07/17/34(a)(c)			250		249,965
Mastr Asset Backed Securities Trust, Series 2007- NCW, Class A1, (1-mo. Term SOFR + 0.41%), 5.77%, 05/25/37(a)(c)			188		159,597
Morgan Stanley Mortgage Loan Trust, Series 2007- 3XS, Class 2A4S, 6.46%, 01/25/47(b)			313		112,172
Navient Private Education Refi Loan Trust(a)
Series 2019-CA, Class A2, 3.13%, 02/15/68			27		26,463
Series 2020-CA, Class A2B, (1-mo. Term SOFR + 1.71%), 7.08%, 11/15/68(c)			353		356,066
Nelnet Student Loan Trust(a)
Series 2021-A, Class B1, 2.85%, 04/20/62			100		83,937

Security		Par (000)		Value
Asset-Backed Securities (continued)
Nelnet Student Loan Trust(a) (continued)
Series 2023-PL1, Class A1A, (30-day Avg SOFR + 2.25%), 7.59%, 11/25/53(c)	USD		98	$	97,795
Neuberger Berman CLO XV, Series 2013-15A, Class A1R2, (3-mo. CME Term SOFR + 1.18%), 6.58%, 10/15/29(a)(c)			469		469,332
Neuberger Berman Loan Advisers CLO Ltd.(a)(c)
Series 2018-27A, Class B, (3-mo. CME Term SOFR + 1.66%), 7.06%, 01/15/30			250		250,723
Series 2021-40A, Class A, (3-mo. CME Term SOFR + 1.32%), 6.72%, 04/16/33			250		250,405
OCP CLO Ltd., Series 2014-5A, Class A1R, (3-mo. CME Term SOFR + 1.34%), 6.72%, 04/26/31(a)(c)			695		696,063
Octagon Investment Partners Ltd., Series 2018-1A, Class A1A, (3-mo. CME Term SOFR + 1.32%), 6.74%, 01/20/31(a)(c)			221		221,503
Octagon Investment Partners XV Ltd., Series 2013-1A, Class A1RR, (3-mo. CME Term SOFR + 1.23%), 6.63%, 07/19/30(a)(c)			207		206,808
OHA Credit Partners XVI, Series 2021-16A, Class A, (3-mo. CME Term SOFR + 1.41%), 6.81%, 10/18/34(a)(c)			250		250,324
OnDeck Asset Securitization Trust IV LLC, Series 2023-1, Class A, 7.00%, 08/19/30(a)			160		161,628
OneMain Financial Issuance Trust(a)
Series 2020-2A, Class A, 1.75%, 09/14/35			100		92,644
Series 2020-2A, Class B, 2.21%, 09/14/35			240		215,546
Origen Manufactured Housing Contract Trust, Series 2007-B, Class A1, (1-mo. LIBOR US + 1.20%), 6.68%, 10/15/37(a)(c)			92		89,253
OZLM VII Ltd., Series 2014-7RA, Class A1R, (3-mo. CME Term SOFR + 1.27%), 6.67%, 07/17/29(a)(c)			35		34,691
Palmer Square CLO Ltd., Series 2023-4A, Class C, (3-mo. CME Term SOFR + 2.60%), 8.01%, 10/20/33(a)(c)			250		250,548
Palmer Square Loan Funding Ltd.(a)(c)
Series 2022-1A, Class A1, (3-mo. CME Term SOFR + 1.05%), 6.44%, 04/15/30			275		274,663
Series 2023-2, Class C, (3-mo. CME Term SOFR + 4.35%), 9.70%, 01/25/32			250		246,218
PFS Financing Corp., Series 2022-D, Class D, 4.90%, 08/15/27(a)			241		237,189
Pikes Peak CLO, Series 2020-6A, Class AR, (3-mo. CME Term SOFR + 1.43%), 6.80%, 05/18/34(a)(c)			250		249,730
PRET LLC, Series 2023-RN2, Class A1, 8.11%, 11/25/53(a)(b)			146		148,456
Progress Residential Trust(a)
Series 2023-SFR1, Class E1, 6.15%, 03/17/40			690		677,119
Series 2023-SFR2, Class E1, 4.75%, 10/17/28			125		115,395
PRPM LLC(a)
Series 2022-1, Class A1, 3.72%, 02/25/27(b)			135		130,952
Series 2023-1, Class A1, 6.88%, 02/25/28(c)			137		138,731
Race Point VIII CLO Ltd., Series 2013-8A, Class AR2, (3-mo. CME Term SOFR + 1.30%), 6.67%, 02/20/30(a)(c)			370		369,377
Redwood Funding Trust, Series 2023-1, Class A, 7.50%, 07/25/59(a)(b)(d)			97		95,392
Regatta XVIII Funding Ltd., Series 2021-1A, Class A1, (3-mo. CME Term SOFR + 1.36%), 6.76%, 01/15/34(a)(c)			500		501,164
Regional Management Issuance Trust(a)
Series 2020-1, Class A, 2.34%, 10/15/30			65		63,538
Series 2021-1, Class A, 1.68%, 03/17/31			100		96,455

SCHEDULE OF INVESTMENTS 2

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Asset-Backed Securities (continued)
Regional Management Issuance Trust(a) (continued)
Series 2021-2, Class B, 2.35%, 08/15/33	USD		300	$	255,891
Series 2022-1, Class A, 3.07%, 03/15/32			200		191,484
Santander Drive Auto Receivables Trust
Series 2022-3, Class B, 4.13%, 08/16/27			300		296,604
Series 2022-4, Class B, 4.42%, 11/15/27			300		295,907
Series 2022-5, Class B, 4.43%, 03/15/27			195		193,310
Series 2022-5, Class C, 4.74%, 10/16/28			750		743,627
Series 2022-6, Class B, 4.72%, 06/15/27			135		134,217
Series 2022-7, Class B, 5.95%, 01/17/28			700		703,891
Series 2024-1, Class C, 5.45%, 03/15/30			240		241,824
SMB Private Education Loan Trust(a)
Series 2016-B, Class A2A, 2.43%, 02/17/32			12		11,704
Series 2017-A, Class A2B, (1-mo. Term SOFR + 1.01%), 6.38%, 09/15/34(c)			149		148,112
Series 2018-B, Class A2B, (1-mo. Term SOFR + 0.83%), 6.20%, 01/15/37(c)			207		205,497
Series 2021-A, Class B, 2.31%, 01/15/53			267		249,890
Sound Point CLO XV Ltd., Series 2017-1A, Class ARR, (3-mo. CME Term SOFR + 1.16%), 6.57%, 01/23/29(a)(c)			8		7,578
Soundview Home Loan Trust(c)
Series 2005-OPT3, Class M4, (1-mo. Term SOFR + 1.13%), 6.47%, 11/25/35			25		17,569
Series 2007-NS1, Class M1, (1-mo. Term SOFR + 0.46%), 5.80%, 01/25/37			19		17,309
Symphony CLO Ltd., Series 2023-38A, Class B1, (3-mo. CME Term SOFR + 2.25%), 7.57%, 04/24/36(a)(c)			250		249,996
TCI-Symphony CLO Ltd., Series 2017-1A, Class AR, (3-mo. CME Term SOFR + 1.19%), 6.59%, 07/15/30(a)(c)			212		212,161
TICP CLO VI Ltd., Series 2016-6A, Class AR2, (3-mo. CME Term SOFR + 1.38%), 6.78%, 01/15/34(a)(c)			250		250,828
TICP CLO X Ltd., Series 2018-10A, Class A, (3-mo. CME Term SOFR + 1.26%), 6.68%, 04/20/31(a)(c)			181		180,572
TICP CLO XI Ltd., Series 2018-11A, Class A, (3-mo. CME Term SOFR + 1.44%), 6.86%, 10/20/31(a)(c)			222		221,963
Voya CLO Ltd.(a)(c)
Series 2017-3A, Class DR, (3-mo. CME Term SOFR + 7.21%), 12.63%, 04/20/34			250		249,469
Series 2018-4A, Class A1AR, (3-mo. CME Term SOFR + 1.30%), 6.70%, 01/15/32			250		249,670
Series 2019-1A, Class AR, (3-mo. CME Term SOFR + 1.32%), 6.72%, 04/15/31			254		253,781
WaMu Asset-Backed Certificates WaMu Trust(c)
Series 2007-HE1, Class 2A3, (1-mo. Term SOFR + 0.26%), 5.62%, 01/25/37			274		125,152
Series 2007-HE2, Class 2A2, (1-mo. Term SOFR + 0.30%), 5.66%, 04/25/37			404		148,332
Series 2007-HE2, Class 2A3, (1-mo. Term SOFR + 0.36%), 5.72%, 04/25/37			596		218,999
Series 2007-HE2, Class 2A4, (1-mo. Term SOFR + 0.47%), 5.83%, 04/25/37			275		100,965
Washington Mutual Asset-Backed Certificates WMABS Trust(c)
Series 2006-HE1, Class 2A4, (1-mo. Term SOFR + 0.67%), 6.03%, 04/25/36			46		45,317
Series 2007-HE2, Class 2A1, (1-mo. Term SOFR + 0.21%), 5.57%, 02/25/37			505		137,737
Westlake Automobile Receivables Trust(a)
Series 2021-2A, Class D, 1.23%, 12/15/26			185		177,019

Security		Par (000)		Value
Asset-Backed Securities (continued)
Westlake Automobile Receivables Trust(a) (continued)
Series 2022-1A, Class D, 3.49%, 03/15/27	USD		1,000	$	970,287
Series 2022-2A, Class D, 5.48%, 09/15/27			1,000		992,596
Series 2022-3A, Class A3, 5.49%, 07/15/26			35		34,968
Series 2023-1A, Class C, 5.74%, 08/15/28			515		513,972
Series 2023-2A, Class B, 6.14%, 03/15/28			100		100,883
Series 2023-2A, Class C, 6.29%, 03/15/28			300		301,743
Series 2023-2A, Class D, 7.01%, 11/15/28			900		915,371
Series 2023-3, Class C, 6.02%, 09/15/28			305		307,181
Series 2023-3, Class D, 6.47%, 03/15/29			180		181,090
Series 2023-4, Class C, 6.64%, 11/15/28			550		560,468
Whitebox CLO I Ltd., Series 2019-1A, Class ANAR, (3-mo. CME Term SOFR + 1.39%), 6.79%, 07/24/32(a)(c)			250		250,374
Whitebox CLO II Ltd., Series 2020-2A, Class BR, (3-mo. CME Term SOFR + 2.01%), 7.41%, 10/24/34(a)(c)			400		401,756
Whitebox CLO III Ltd., Series 2021-3A, Class C, (3-mo. CME Term SOFR + 2.46%), 7.78%, 10/15/34(a)(c)			250		249,770
Total Asset-Backed Securities — 6.7% (Cost: $45,121,771)					45,841,541
Corporate Bonds
Aerospace & Defense — 0.9%
BAE Systems PLC, 1.90%, 02/15/31(a)			200		163,992
Boeing Co.
2.60%, 10/30/25			50		47,848
5.71%, 05/01/40			150		151,100
5.81%, 05/01/50			100		100,144
3.95%, 08/01/59			138		101,925
5.93%, 05/01/60			371		370,422
Embraer Netherlands Finance BV, 7.00%, 07/28/30(a)			200		209,450
General Dynamics Corp., 2.25%, 06/01/31			230		197,449
Huntington Ingalls Industries, Inc.
3.48%, 12/01/27			79		74,834
2.04%, 08/16/28			217		191,389
4.20%, 05/01/30			105		100,337
L3Harris Technologies, Inc.
4.40%, 06/15/28			65		64,159
2.90%, 12/15/29			49		44,313
1.80%, 01/15/31			193		158,497
5.40%, 07/31/33			137		141,115
5.60%, 07/31/53			102		106,523
Lockheed Martin Corp.
5.10%, 11/15/27			220		225,803
4.45%, 05/15/28			97		97,147
1.85%, 06/15/30			43		36,864
3.90%, 06/15/32			260		248,529
4.50%, 05/15/36			137		133,855
4.07%, 12/15/42			80		71,348
5.70%, 11/15/54			70		76,723
4.30%, 06/15/62			450		394,034
5.90%, 11/15/63			245		276,529
5.20%, 02/15/64			75		76,038
Northrop Grumman Corp.
4.70%, 03/15/33			131		130,363
5.15%, 05/01/40			80		79,949
4.95%, 03/15/53			130		126,337
Precision Castparts Corp., 3.25%, 06/15/25			35		34,346

3

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Aerospace & Defense (continued)
RTX Corp.
6.70%, 08/01/28	USD		412	$	441,722
4.13%, 11/16/28			252		245,634
5.15%, 02/27/33			133		134,780
6.10%, 03/15/34(e)			138		149,776
4.50%, 06/01/42			20		18,302
3.75%, 11/01/46			49		39,164
2.82%, 09/01/51			279		181,604
Spirit AeroSystems, Inc., 9.75%, 11/15/30(a)			55		57,726
Textron, Inc., 3.90%, 09/17/29			326		310,894
TransDigm, Inc.
5.50%, 11/15/27			99		96,318
6.75%, 08/15/28(a)			128		130,094
					6,037,376
Air Freight & Logistics — 0.0%
FedEx Corp.
3.40%, 02/15/28			20		19,108
2.40%, 05/15/31			80		68,139
5.25%, 05/15/50			80		78,104
United Parcel Service, Inc., 5.30%, 04/01/50			25		26,095
					191,446
Automobile Components — 0.1%
Banque Federative du Credit Mutuel SA(f)
4.75%, 11/10/31	EUR		200		229,127
3.75%, 02/03/34			100		108,517
Lear Corp., 3.80%, 09/15/27	USD		35		33,794
					371,438
Automobiles — 0.2%
Aston Martin Capital Holdings Ltd., 10.50%, 11/30/25(a)			200		202,005
AutoZone, Inc.
5.05%, 07/15/26			125		125,579
6.25%, 11/01/28			300		318,557
Carvana Co., (12.00% PIK), 12.00%, 12/01/28(a)(g)			115		102,161
General Motors Financial Co., Inc.
3.80%, 04/07/25			150		147,489
5.40%, 04/06/26			320		322,037
Genuine Parts Co., 1.75%, 02/01/25			150		144,945
Honda Motor Co. Ltd., 2.53%, 03/10/27(e)			50		47,137
Jaguar Land Rover Automotive PLC, 4.50%, 10/01/27(a)			5		4,733
LCM Investments Holdings II LLC, 8.25%, 08/01/31(a)			20		20,527
Toyota Motor Credit Corp.
4.80%, 01/10/25			100		99,794
3.65%, 08/18/25			95		93,556
					1,628,520
Banks — 6.3%
Banco de Sabadell SA, (1-year EUR Swap + 1.60%), 4.00%, 01/15/30(c)(f)	EUR		200		218,527
Banco Santander SA
5.15%, 08/18/25	USD		200		199,100
1.85%, 03/25/26			200		186,522
5.59%, 08/08/28			600		610,658
6.92%, 08/08/33			200		211,251
6.94%, 11/07/33			400		443,337
Bank of America Corp.
3.88%, 08/01/25			150		148,080
(1-day SOFR + 0.96%), 1.73%, 07/22/27(c)			110		101,390
(1-day SOFR + 1.11%), 3.84%, 04/25/25(c)			100		99,549
(1-day SOFR + 1.15%), 1.32%, 06/19/26(c)			400		378,499

Security		Par (000)		Value
Banks (continued)
Bank of America Corp. (continued)
(1-day SOFR + 1.21%), 2.57%, 10/20/32(c)	USD		107	$	89,203
(1-day SOFR + 1.33%), 3.38%, 04/02/26(c)			310		303,019
(1-day SOFR + 1.33%), 2.97%, 02/04/33(c)			95		81,045
(1-day SOFR + 1.34%), 5.93%, 09/15/27(c)			250		255,368
(1-day SOFR + 1.57%), 5.82%, 09/15/29(c)			604		624,483
(1-day SOFR + 1.58%), 3.31%, 04/22/42(c)			160		126,278
(1-day SOFR + 1.63%), 5.20%, 04/25/29(c)			318		320,601
(1-day SOFR + 1.65%), 5.47%, 01/23/35(c)			395		402,248
(1-day SOFR + 1.75%), 4.83%, 07/22/26(c)			190		188,995
(1-day SOFR + 1.84%), 5.87%, 09/15/34(c)(e)			1,166		1,220,974
(1-day SOFR + 1.91%), 5.29%, 04/25/34(c)			258		259,585
(1-day SOFR + 1.93%), 2.68%, 06/19/41(c)			110		79,391
(1-day SOFR + 1.99%), 6.20%, 11/10/28(c)			100		104,550
(1-day SOFR + 2.04%), 4.95%, 07/22/28(c)			300		300,580
(1-day SOFR + 2.15%), 2.59%, 04/29/31(c)			200		173,191
(3-mo. CME Term SOFR + 1.30%), 3.42%, 12/20/28(c)			189		178,539
(3-mo. CME Term SOFR + 3.41%), 4.08%, 03/20/51(c)			40		33,390
Series L, 4.18%, 11/25/27			160		156,154
Series N, (1-day SOFR + 1.65%), 3.48%, 03/13/52(c)			50		38,033
Bank of Montreal
5.92%, 09/25/25			170		172,917
5.72%, 09/25/28			40		41,514
Bank of New York Mellon Corp., (1-day SOFR + 1.03%), 4.95%, 04/26/27(c)			160		160,277
Bank of Nova Scotia, 1.35%, 06/24/26			300		277,151
Barclays PLC, (1-day SOFR + 2.21%), 5.83%, 05/09/27(c)			250		252,125
BPCE SA, 3.88%, 01/25/36(f)	EUR		100		109,460
Citigroup, Inc.
6.00%, 10/31/33	USD		160		169,868
8.13%, 07/15/39			20		25,933
(1-day SOFR + 0.69%), 2.01%, 01/25/26(c)			100		96,520
(1-day SOFR + 0.77%), 1.46%, 06/09/27(c)(e)			325		298,674
(1-day SOFR + 1.28%), 3.07%, 02/24/28(c)			541		511,492
(1-day SOFR + 1.35%), 3.06%, 01/25/33(c)			97		83,088
(1-day SOFR + 1.37%), 4.14%, 05/24/25(c)			195		194,028
(1-day SOFR + 1.53%), 3.29%, 03/17/26(c)			200		195,478
(1-day SOFR + 1.89%), 4.66%, 05/24/28(c)(e)			21,987
(1-day SOFR + 2.09%), 4.91%, 05/24/33(c)			120		117,565
(1-day SOFR + 2.34%), 6.27%, 11/17/33(c)			636		682,563
(1-day SOFR + 2.66%), 6.17%, 05/25/34(c)			20		20,745
(1-day SOFR + 2.84%), 3.11%, 04/08/26(c)			610		594,696
(1-day SOFR + 3.91%), 4.41%, 03/31/31(c)			240		230,938
(3-mo. CME Term SOFR + 1.41%), 3.52%, 10/27/28(c)			34		32,254
(3-mo. CME Term SOFR + 1.65%), 3.67%, 07/24/28(c)			157		150,207
(3-mo. CME Term SOFR + 1.82%), 3.89%, 01/10/28(c)			193		187,423
(3-mo. CME Term SOFR + 2.10%), 4.28%, 04/24/48(c)			100		87,213
Credit Agricole SA, 3.75%, 01/22/34(f)	EUR		200		218,524
Credit Suisse AG/New York
4.75%, 08/09/24	USD		300		298,378
7.95%, 01/09/25			250		255,808
3.70%, 02/21/25			534		525,191
5.00%, 07/09/27			310		310,168

SCHEDULE OF INVESTMENTS 4

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Banks (continued)
Credit Suisse AG/New York (continued)
7.50%, 02/15/28	USD		500	$	546,588
Deutsche Bank AG/New York
5.37%, 09/09/27			450		456,864
(1-day SOFR + 2.51%), 6.82%, 11/20/29(c)			150		157,626
Fifth Third Bancorp(c)
(1-day SOFR + 1.84%), 5.63%, 01/29/32			60		60,564
(1-day SOFR + 2.34%), 6.34%, 07/27/29			30		31,233
Freedom Mortgage Corp.(a)
12.00%, 10/01/28			10		10,977
12.25%, 10/01/30			20		22,296
Goldman Sachs Group, Inc.
3.50%, 01/23/25			200		196,775
0.88%, 05/09/29(f)	EUR		100		94,015
2.60%, 02/07/30	USD		452		397,565
3.80%, 03/15/30			327		307,757
5.15%, 05/22/45			160		157,389
(1-day SOFR + 0.79%), 1.09%, 12/09/26(c)			350		324,876
(1-day SOFR + 0.91%), 1.95%, 10/21/27(c)			220		202,330
(1-day SOFR + 1.09%), 1.99%, 01/27/32(c)			33		26,857
(1-day SOFR + 1.25%), 2.38%, 07/21/32(c)			126		103,893
(1-day SOFR + 1.26%), 2.65%, 10/21/32(c)			164		137,193
(1-day SOFR + 1.28%), 2.62%, 04/22/32(c)			166		140,068
(1-day SOFR + 1.41%), 3.10%, 02/24/33(c)			335		288,420
(1-day SOFR + 1.63%), 3.44%, 02/24/43(c)			190		149,909
(1-day SOFR + 1.73%), 4.48%, 08/23/28(c)			452		445,310
(1-day SOFR + 1.77%), 6.48%, 10/24/29(c)			709		752,790
(3-mo. CME Term SOFR + 1.42%), 3.81%, 04/23/29(c)			102		97,127
(3-mo. CME Term SOFR + 1.56%), 4.22%, 05/01/29(c)			572		553,480
HSBC Holdings PLC
6.50%, 09/15/37			300		314,305
(1-day SOFR + 1.43%), 3.00%, 03/10/26(c)			300		291,680
(1-day SOFR + 1.51%), 4.18%, 12/09/25(c)			200		197,429
(1-day SOFR + 1.57%), 5.89%, 08/14/27(c)			200		202,846
(1-day SOFR + 2.98%), 6.55%, 06/20/34(c)			600		625,243
(3-mo. EURIBOR + 1.94%), 4.86%, 05/23/33(c)(f)	EUR		100		115,063
ING Groep NV(c)
(1-day SOFR + 1.56%), 6.08%, 09/11/27	USD		725		739,867
(1-day SOFR + 2.09%), 6.11%, 09/11/34			200		209,954
(3-mo. EURIBOR + 1.90%), 4.75%, 05/23/34(f)	EUR		100		115,369
Inter-American Development Bank, 4.50%, 05/15/26	USD		190		191,054
JPMorgan Chase & Co.
4.95%, 06/01/45			160		154,255
(1-day SOFR + 0.80%), 1.05%, 11/19/26(c)			330		306,832
(1-day SOFR + 0.92%), 2.60%, 02/24/26(c)			205		199,205
(1-day SOFR + 1.07%), 1.95%, 02/04/32(c)			53		43,263
(1-day SOFR + 1.18%), 2.55%, 11/08/32(c)			49		41,090
(1-day SOFR + 1.19%), 5.04%, 01/23/28(c)			95		95,406
(1-day SOFR + 1.26%), 2.96%, 01/25/33(c)			60		51,631
(1-day SOFR + 1.31%), 5.01%, 01/23/30(c)			90		90,451
(1-day SOFR + 1.33%), 6.07%, 10/22/27(c)			280		288,422
(1-day SOFR + 1.45%), 5.30%, 07/24/29(c)			475		482,771
(1-day SOFR + 1.62%), 5.34%, 01/23/35(c)			184		186,992
(1-day SOFR + 1.80%), 4.59%, 04/26/33(c)			85		82,098
(1-day SOFR + 1.81%), 6.25%, 10/23/34(c)			542		587,381
(1-day SOFR + 1.85%), 5.35%, 06/01/34(c)			213		216,555
(1-day SOFR + 1.89%), 2.18%, 06/01/28(c)			95		87,190
(1-day SOFR + 2.04%), 2.52%, 04/22/31(c)			52		45,215
(1-day SOFR + 2.08%), 4.91%, 07/25/33(c)			520		513,312

Security		Par (000)		Value
Banks (continued)
JPMorgan Chase & Co. (continued)
(3-mo. CME Term SOFR + 1.11%), 1.76%, 11/19/31(c)	USD		52	$	42,381
(3-mo. CME Term SOFR + 1.25%), 2.58%, 04/22/32(c)			50		42,362
(3-mo. CME Term SOFR + 1.51%), 2.74%, 10/15/30(c)			61		54,303
(3-mo. CME Term SOFR + 1.59%), 2.01%, 03/13/26(c)			550		529,554
(3-mo. CME Term SOFR + 1.64%), 3.96%, 11/15/48(c)			20		16,625
(3-mo. CME Term SOFR + 3.79%), 4.49%, 03/24/31(c)			200		195,260
(3-mo. EURIBOR + 1.28%), 4.46%, 11/13/31(c)(f)	EUR		160		181,965
Lloyds Banking Group PLC, (1-year CMT + 0.85%), 1.63%, 05/11/27(c)	USD		200		184,086
Mitsubishi UFJ Financial Group, Inc.(c)
(1-year CMT + 0.83%), 2.34%, 01/19/28			200		185,604
(1-year CMT + 1.38%), 5.42%, 02/22/29			250		254,685
(1-year CMT + 1.50%), 5.54%, 04/17/26			440		441,223
Mizuho Financial Group, Inc.(c)
(1-year CMT + 0.90%), 2.65%, 05/22/26(e)			200		193,207
(1-year CMT + 1.65%), 5.78%, 07/06/29			200		205,358
(1-year CMT + 1.90%), 5.75%, 07/06/34			400		413,987
(1-year CMT + 2.05%), 5.41%, 09/13/28			250		253,512
Morgan Stanley
4.38%, 01/22/47			100		89,278
(1-day SOFR + 1.02%), 1.93%, 04/28/32(c)			651		525,199
(1-day SOFR + 1.03%), 1.79%, 02/13/32(c)			34		27,295
(1-day SOFR + 1.14%), 2.70%, 01/22/31(c)			183		160,792
(1-day SOFR + 1.18%), 2.24%, 07/21/32(c)			331		271,386
(1-day SOFR + 1.20%), 2.51%, 10/20/32(c)(e)			109		90,783
(1-day SOFR + 1.29%), 2.94%, 01/21/33(c)			32		27,309
(1-day SOFR + 1.30%), 5.05%, 01/28/27(c)			200		200,581
(1-day SOFR + 1.59%), 5.16%, 04/20/29(c)			32		32,210
(1-day SOFR + 1.67%), 4.68%, 07/17/26(c)			295		293,009
(1-day SOFR + 1.73%), 5.12%, 02/01/29(c)			45		45,164
(1-day SOFR + 1.73%), 5.47%, 01/18/35(c)(e)			80		81,640
(1-day SOFR + 1.83%), 6.41%, 11/01/29(c)			1,575		1,669,149
(1-day SOFR + 1.87%), 5.25%, 04/21/34(c)			77		77,042
(1-day SOFR + 1.88%), 5.42%, 07/21/34(c)			187		189,422
(1-day SOFR + 2.05%), 6.63%, 11/01/34(c)(e)			616		681,876
(1-day SOFR + 2.56%), 6.34%, 10/18/33(c)			105		113,296
(1-day SOFR + 3.12%), 3.62%, 04/01/31(c)			279		257,422
(3-mo. CME Term SOFR + 1.40%), 3.77%, 01/24/29(c)			20		19,125
(5-year CMT + 2.43%), 5.95%, 01/19/38(c)			245		250,158
PNC Financial Services Group, Inc., (1-day SOFR + 1.32%), 5.81%, 06/12/26(c)			405		407,257
Popular, Inc., 7.25%, 03/13/28			176		182,512
Royal Bank of Canada
1.20%, 04/27/26			20		18,510
3.63%, 05/04/27			200		193,771
4.95%, 02/01/29			125		125,957
5.00%, 02/01/33			25		25,004
Santander Holdings USA, Inc.(c)
(1-day SOFR + 2.33%), 5.81%, 09/09/26			50		50,338
(1-day SOFR + 2.36%), 6.50%, 03/09/29			30		31,048
(1-day SOFR + 2.50%), 6.17%, 01/09/30			408		410,336
(1-day SOFR + 3.28%), 7.66%, 11/09/31			55		59,769
Santander U.K. Group Holdings PLC, (1-day SOFR + 2.75%), 6.83%, 11/21/26(c)			200		204,283

5

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Banks (continued)
State Street Corp., (1-day SOFR + 2.60%), 2.90%, 03/30/26(c)	USD		20	$	19,462
Sumitomo Mitsui Financial Group, Inc.
1.47%, 07/08/25			200		190,130
3.78%, 03/09/26			250		244,346
5.71%, 01/13/30			200		207,778
Toronto-Dominion Bank, 5.10%, 01/09/26			130		131,105
Truist Financial Corp.(c)
(1-day SOFR + 1.62%), 5.44%, 01/24/30			75		75,639
(1-day SOFR + 1.92%), 5.71%, 01/24/35			210		213,540
(1-day SOFR + 2.05%), 6.05%, 06/08/27			200		203,735
U.S. Bancorp(c)
(1-day SOFR + 1.56%), 5.38%, 01/23/30			55		55,652
(1-day SOFR + 1.86%), 5.68%, 01/23/35			105		107,436
(1-day SOFR + 2.02%), 5.78%, 06/12/29			115		117,817
UBS AG, 5.65%, 09/11/28			200		206,725
UBS Group AG(c)
(1-day SOFR Index + 0.98%), 1.31%, 02/02/27(a)			250		229,924
(1-year CMT + 2.00%), 6.30%, 09/22/34(a)			541		573,043
(1-year EURIBOR ICE Swap + 4.95%), 7.75%, 03/01/29(f)	EUR		100		124,144
UniCredit SpA, (5-year USD ICE Swap + 4.91%), 7.30%, 04/02/34(a)(c)	USD		100		103,431
Wells Fargo & Co.
0.63%, 03/25/30(f)	EUR		101		91,477
4.40%, 06/14/46	USD		75		63,942
(1-day SOFR + 1.32%), 3.91%, 04/25/26(c)			200		196,612
(1-day SOFR + 1.50%), 5.20%, 01/23/30(c)			164		165,275
(1-day SOFR + 1.51%), 3.53%, 03/24/28(c)			250		239,600
(1-day SOFR + 1.56%), 4.54%, 08/15/26(c)			300		296,980
(1-day SOFR + 1.74%), 5.57%, 07/25/29(c)			533		544,735
(1-day SOFR + 1.78%), 5.50%, 01/23/35(c)(e)			267		272,307
(1-day SOFR + 1.79%), 6.30%, 10/23/29(c)			288		303,537
(1-day SOFR + 1.98%), 4.81%, 07/25/28(c)			100		99,395
(1-day SOFR + 1.99%), 5.56%, 07/25/34(c)			113		115,367
(1-day SOFR + 2.00%), 2.19%, 04/30/26(c)(e)			440		423,298
(1-day SOFR + 2.02%), 5.39%, 04/24/34(c)			118		119,061
(1-day SOFR + 2.06%), 6.49%, 10/23/34(c)			686		748,389
(1-day SOFR + 2.10%), 4.90%, 07/25/33(c)			260		254,088
(3-mo. CME Term SOFR + 4.03%), 4.48%, 04/04/31(c)			400		388,180
(3-mo. CME Term SOFR + 4.50%), 5.01%, 04/04/51(c)			50		47,760
Wells Fargo Bank NA, 5.45%, 08/07/26			264		268,235
Westpac Banking Corp., (5-year USD ICE Swap + 2.24%), 4.32%, 11/23/31(c)			40		38,761
					43,457,445
Beverages — 0.3%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.
4.70%, 02/01/36			15		14,818
4.90%, 02/01/46			180		174,939
Anheuser-Busch InBev Worldwide, Inc., 5.80%, 01/23/59			20		21,963
Coca-Cola Co.
2.25%, 01/05/32			120		103,488
3.00%, 03/05/51			20		14,641
2.75%, 06/01/60			100		66,330
Coca-Cola Femsa SAB de CV, 2.75%, 01/22/30			300		269,295
Constellation Brands, Inc., 4.75%, 05/09/32			105		103,686

Security		Par (000)		Value
Beverages (continued)
Diageo Capital PLC
1.38%, 09/29/25	USD		300	$	284,380
5.50%, 01/24/33			600		632,138
JDE Peet’s NV, 4.50%, 01/23/34(f)	EUR		100		112,825
Keurig Dr. Pepper, Inc.
3.40%, 11/15/25	USD		35		34,082
4.50%, 11/15/45			20		17,763
PepsiCo, Inc.
2.63%, 07/29/29			95		87,189
3.88%, 03/19/60			375		312,572
					2,250,109
Biotechnology — 0.5%
Amgen, Inc.
1.90%, 02/21/25			300		290,166
5.51%, 03/02/26			160		160,027
5.25%, 03/02/30			601		615,316
4.20%, 03/01/33			160		151,625
4.66%, 06/15/51			20		17,913
5.65%, 03/02/53			90		92,728
4.40%, 02/22/62			50		41,633
5.75%, 03/02/63			559		576,024
Biogen, Inc., 3.25%, 02/15/51			60		42,306
Gilead Sciences, Inc.
1.65%, 10/01/30(e)			112		93,554
2.60%, 10/01/40			314		228,515
4.80%, 04/01/44			110		105,125
4.50%, 02/01/45			49		44,958
Regeneron Pharmaceuticals, Inc.
1.75%, 09/15/30			1,170		966,499
2.80%, 09/15/50			50		32,394
Royalty Pharma PLC, 2.20%, 09/02/30			95		79,724
					3,538,507
Broadline Retail — 0.0%
Amazon.com, Inc.
3.60%, 04/13/32			160		150,981
3.10%, 05/12/51			40		29,270
eBay, Inc., 2.70%, 03/11/30			80		71,310
					251,561
Building Materials — 0.0%
Eco Material Technologies, Inc., 7.88%, 01/31/27(a)			60		59,963
Building Products — 0.2%
Carrier Global Corp.
2.70%, 02/15/31			20		17,458
6.20%, 03/15/54(a)			40		45,260
Home Depot, Inc.
2.50%, 04/15/27			300		283,107
4.50%, 09/15/32			80		80,015
5.88%, 12/16/36			20		22,180
4.95%, 09/15/52(e)			40		39,486
Lowe’s Cos., Inc.
3.38%, 09/15/25			60		58,640
3.35%, 04/01/27			300		289,587
4.50%, 04/15/30(e)			50		49,661
1.70%, 10/15/30			56		46,437
2.63%, 04/01/31			41		35,661
5.00%, 04/15/33			160		162,147
2.80%, 09/15/41			236		172,901
5.80%, 09/15/62			40		41,926
					1,344,466

SCHEDULE OF INVESTMENTS 6

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Capital Markets — 0.4%
Ameriprise Financial, Inc.
5.70%, 12/15/28	USD		350	$	366,530
5.15%, 05/15/33			120		122,820
Ares Capital Corp.
4.25%, 03/01/25			20		19,636
2.15%, 07/15/26			200		182,571
7.00%, 01/15/27			185		189,833
Barings BDC, Inc., 3.30%, 11/23/26			50		46,304
Blackstone Private Credit Fund, 3.25%, 03/15/27			100		91,921
Brookfield Capital Finance LLC, 6.09%, 06/14/33			15		15,770
Charles Schwab Corp.
0.90%, 03/11/26			20		18,425
5.88%, 08/24/26			300		307,161
2.45%, 03/03/27			5		4,668
(1-day SOFR + 1.88%), 6.20%, 11/17/29(c)			20		20,918
(1-day SOFR + 2.01%), 6.14%, 08/24/34(c)			160		169,097
Compass Group Diversified Holdings LLC, 5.25%, 04/15/29(a)			25		23,806
FS KKR Capital Corp.
2.63%, 01/15/27			110		99,994
3.25%, 07/15/27			100		91,788
3.13%, 10/12/28			220		193,651
7.88%, 01/15/29			10		10,611
Jefferies Financial Group, Inc.
4.85%, 01/15/27			20		20,017
5.88%, 07/21/28			30		31,009
Main Street Capital Corp.
3.00%, 07/14/26			100		92,226
6.95%, 03/01/29			150		152,469
Nasdaq, Inc.
5.65%, 06/28/25			25		25,235
5.35%, 06/28/28			20		20,511
5.55%, 02/15/34			162		167,984
6.10%, 06/28/63			118		127,247
Nomura Holdings, Inc., 5.10%, 07/03/25			200		199,210
					2,811,412
Chemicals — 0.1%
Celanese U.S. Holdings LLC, 6.70%, 11/15/33			10		10,749
Chemours Co., 5.75%, 11/15/28(a)			100		94,319
CVR Partners LP/CVR Nitrogen Finance Corp., 6.13%, 06/15/28(a)(e)			104		98,020
DuPont de Nemours, Inc., 5.42%, 11/15/48			20		20,029
Eastman Chemical Co., 5.75%, 03/08/33			27		27,808
Ecolab, Inc., 2.13%, 02/01/32			190		159,136
EIDP, Inc., 4.50%, 05/15/26			35		34,900
LYB International Finance III LLC
4.20%, 05/01/50			30		23,892
3.80%, 10/01/60(e)			50		35,408
Newmark Group, Inc., 7.50%, 01/12/29(a)			46		46,965
Nufarm Australia Ltd./Nufarm Americas, Inc., 5.00%, 01/27/30(a)(e)			5		4,575
Sherwin-Williams Co.
3.45%, 06/01/27			150		144,668
2.95%, 08/15/29			35		32,010
					732,479
Commercial Services & Supplies — 0.2%
APX Group, Inc., 5.75%, 07/15/29(a)			100		94,970
Fortress Transportation and Infrastructure Investors LLC, 7.88%, 12/01/30(a)			55		58,013
Interface, Inc., 5.50%, 12/01/28(a)(e)			74		69,252

Security		Par (000)		Value
Commercial Services & Supplies (continued)
Prime Security Services Borrower LLC/Prime Finance, Inc., 6.25%, 01/15/28(a)(e)	USD		167	$	165,495
Quanta Services, Inc.
2.90%, 10/01/30			800		701,718
2.35%, 01/15/32			220		179,514
3.05%, 10/01/41(e)			50		35,688
Steelcase, Inc., 5.13%, 01/18/29			12		11,496
					1,316,146
Communications Equipment — 0.2%
Motorola Solutions, Inc.
4.60%, 02/23/28			65		64,695
2.30%, 11/15/30			400		337,257
2.75%, 05/24/31			200		170,416
5.60%, 06/01/32(e)			641		658,959
5.50%, 09/01/44			195		192,812
					1,424,139
Construction & Engineering — 0.0%
Brand Industrial Services, Inc., 10.38%, 08/01/30(a)(e)			40		42,250
Construction Materials — 0.1%
Boise Cascade Co., 4.88%, 07/01/30(a)			76,492
Eagle Materials, Inc., 2.50%, 07/01/31			295		249,364
Owens Corning, 3.88%, 06/01/30			28		26,216
Smyrna Ready Mix Concrete LLC, 8.88%, 11/15/31(a)			100		105,056
					387,128
Consumer Finance — 0.7%
Ally Financial, Inc.(c)
(1-day SOFR + 2.82%), 6.85%, 01/03/30			265		273,576
(1-day SOFR + 3.26%), 6.99%, 06/13/29			20		20,715
American Express Co.(c)
(1-day SOFR + 1.76%), 4.42%, 08/03/33			50		48,051
(1-day SOFR + 1.84%), 5.04%, 05/01/34			220		220,108
(1-day SOFR + 1.93%), 5.63%, 07/28/34			150		154,065
Bread Financial Holdings, Inc., 9.75%, 03/15/29(a)			85		84,897
Capital One Financial Corp.(c)
(1-day SOFR + 2.26%), 6.05%, 02/01/35			190		193,079
(1-day SOFR + 2.64%), 6.31%, 06/08/29			90		92,781
Credit Acceptance Corp., 9.25%, 12/15/28(a)			85		89,251
Ford Motor Credit Co. LLC
6.80%, 11/07/28			410		428,294
7.20%, 06/10/30			200		212,669
7.12%, 11/07/33			200		214,334
Global Payments, Inc.
2.90%, 05/15/30			119		104,803
5.40%, 08/15/32			75		75,702
goeasy Ltd., 9.25%, 12/01/28(a)			64		67,982
GTCR W-2 Merger Sub LLC, 7.50%, 01/15/31(a)			75		77,911
Mastercard, Inc.
4.88%, 03/09/28(e)			580		596,247
3.85%, 03/26/50			430		367,672
2.95%, 03/15/51(e)			460		332,678
Moody’s Corp., 2.00%, 08/19/31			34		28,036
OneMain Finance Corp.
7.13%, 03/15/26			96		97,309
9.00%, 01/15/29			92		96,900
S&P Global, Inc.
2.45%, 03/01/27			200		188,257
5.25%, 09/15/33(a)			55		56,872
2.30%, 08/15/60			230		132,155
3.90%, 03/01/62			380		308,436
Sabre GLBL, Inc., 11.25%, 12/15/27(a)			101		101,126

7

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Consumer Finance (continued)
Visa, Inc.
1.10%, 02/15/31	USD		80	$	64,336
4.30%, 12/14/45			20		18,399
3.65%, 09/15/47			35		29,129
					4,775,770
Consumer Staples Distribution & Retail — 0.1%
Dollar General Corp., 5.20%, 07/05/28			20		20,344
FirstCash, Inc., 5.63%, 01/01/30(a)			105		100,077
General Mills, Inc.
5.50%, 10/17/28(e)			300		310,314
2.88%, 04/15/30			65		58,540
4.95%, 03/29/33(e)			200		200,198
Kraft Heinz Foods Co., 5.20%, 07/15/45			65		63,009
Walmart, Inc., 4.50%, 09/09/52			110		104,792
					857,274
Containers & Packaging — 0.1%
Amcor Finance USA, Inc., 5.63%, 05/26/33			26		26,942
Berry Global, Inc., 5.50%, 04/15/28(a)			35		35,356
Mauser Packaging Solutions Holding Co.(a)
7.88%, 08/15/26			25		25,261
9.25%, 04/15/27			25		24,132
Packaging Corp. of America, 5.70%, 12/01/33			200		209,990
WRKCo, Inc., 3.00%, 06/15/33			80		68,608
					390,289
Diversified Consumer Services — 0.1%
California Institute of Technology
4.70%, 11/01/2111			35		32,014
3.65%, 09/01/2119			50		36,275
Emory University, Series 2020, 2.14%, 09/01/30			35		30,506
Massachusetts Institute of Technology, 3.96%, 07/01/38			50		46,428
President and Fellows of Harvard College, 2.52%, 10/15/50			150		100,633
University of Notre Dame du Lac, Series 2017, 3.39%, 02/15/48			150		120,552
University of Southern California, 4.98%, 10/01/53			10		10,252
					376,660
Diversified REITs — 0.7%
American Tower Corp.
1.50%, 01/31/28			20		17,550
5.80%, 11/15/28			140		145,164
3.80%, 08/15/29			508		479,311
1.88%, 10/15/30			115		94,270
2.30%, 09/15/31			66		54,598
2.95%, 01/15/51			100		65,655
Crown Castle, Inc.
1.05%, 07/15/26			65		58,970
4.30%, 02/15/29			25		24,000
5.60%, 06/01/29			140		142,648
3.10%, 11/15/29			20		17,928
3.30%, 07/01/30			240		214,443
2.25%, 01/15/31			130		107,423
2.50%, 07/15/31			146		121,669
5.80%, 03/01/34			110		113,360
2.90%, 04/01/41			100		71,523
Equinix, Inc.
1.25%, 07/15/25			100		94,596
1.55%, 03/15/28			100		88,175
3.20%, 11/18/29			66		60,346

Security		Par (000)		Value
Diversified REITs (continued)
Equinix, Inc. (continued)
2.15%, 07/15/30	USD		42	$	35,475
GLP Capital LP/GLP Financing II, Inc.
5.75%, 06/01/28			158		159,074
5.30%, 01/15/29			163		160,588
4.00%, 01/15/30			49		44,649
4.00%, 01/15/31			228		202,850
3.25%, 01/15/32			289		243,052
Prologis LP
4.63%, 01/15/33			40		39,393
5.25%, 06/15/53			40		40,371
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC(a)
10.50%, 02/15/28			50		50,898
6.50%, 02/15/29(e)			96		67,718
VICI Properties LP, 4.75%, 02/15/28			469		459,225
VICI Properties LP/VICI Note Co., Inc.(a)
4.50%, 09/01/26			223		216,858
4.25%, 12/01/26			427		411,095
5.75%, 02/01/27			26		25,937
3.75%, 02/15/27			28		26,489
4.63%, 12/01/29			277		262,131
4.13%, 08/15/30			314		285,759
					4,703,191
Diversified Telecommunication Services — 0.8%
AT&T, Inc.
1.70%, 03/25/26			730		684,015
1.65%, 02/01/28(e)			260		231,813
5.40%, 02/15/34			326		334,411
3.10%, 02/01/43			200		149,263
4.35%, 06/15/45			45		38,947
4.75%, 05/15/46			48		43,449
5.45%, 03/01/47			59		58,819
3.65%, 06/01/51			135		100,676
3.50%, 09/15/53			182		129,981
3.55%, 09/15/55			63		44,886
3.80%, 12/01/57			159		117,069
3.65%, 09/15/59			380		268,201
3.85%, 06/01/60			182		134,102
3.50%, 02/01/61			50		34,576
British Telecommunications PLC, 9.63%, 12/15/30			20		24,723
Consolidated Communications, Inc., 6.50%, 10/01/28(a)			12		10,320
Deutsche Telekom International Finance BV, 9.25%, 06/01/32			20		25,807
Frontier Communications Holdings LLC(a)
6.75%, 05/01/29			30		26,587
8.75%, 05/15/30			126		129,073
8.63%, 03/15/31			11		11,162
Telefonica Emisiones SA, 4.06%, 01/24/36(f)	EUR		100		110,951
Verizon Communications, Inc.
1.45%, 03/20/26	USD		210		195,860
2.10%, 03/22/28			200		180,845
3.15%, 03/22/30			162		147,576
1.75%, 01/20/31			233		190,404
2.36%, 03/15/32			59		48,998
5.05%, 05/09/33(e)			647		653,621
4.40%, 11/01/34			249		237,614
5.85%, 09/15/35			25		26,723
4.27%, 01/15/36			360		337,729
2.65%, 11/20/40			144		102,833

SCHEDULE OF INVESTMENTS 8

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Diversified Telecommunication Services (continued)
Verizon Communications, Inc. (continued)
2.85%, 09/03/41	USD		100	$	73,161
4.75%, 11/01/41			100		96,165
4.86%, 08/21/46(e)			45		42,768
3.55%, 03/22/51			280		210,941
					5,254,069
Electric Utilities — 2.2%
AEP Texas, Inc.
4.70%, 05/15/32			105		102,431
5.40%, 06/01/33			104		106,262
3.80%, 10/01/47			74		55,108
3.45%, 05/15/51			142		100,150
5.25%, 05/15/52(e)			150		144,606
Series G, 4.15%, 05/01/49			36		28,621
Series H, 3.45%, 01/15/50			40		28,534
AEP Transmission Co. LLC
3.15%, 09/15/49			110		76,762
Series M, 3.65%, 04/01/50			5		3,881
Series N, 2.75%, 08/15/51			105		67,733
Alabama Power Co.
5.85%, 11/15/33			80		85,566
4.15%, 08/15/44			162		138,702
3.75%, 03/01/45			44		35,685
3.13%, 07/15/51			56		39,425
Ameren Corp., 5.70%, 12/01/26			110		112,436
Ameren Illinois Co.
4.95%, 06/01/33(e)			60		60,599
2.90%, 06/15/51			46		30,862
5.90%, 12/01/52			20		22,030
American Transmission Systems, Inc., 2.65%, 01/15/32(a)			32		26,901
Appalachian Power Co., Series BB, 4.50%, 08/01/32			30		28,666
Arizona Public Service Co.
2.20%, 12/15/31			45		36,732
5.55%, 08/01/33			20		20,666
Baltimore Gas and Electric Co.
3.50%, 08/15/46			38		28,708
3.75%, 08/15/47			37		29,370
2.90%, 06/15/50			254		169,353
5.40%, 06/01/53			150		152,423
Berkshire Hathaway Energy Co.
1.65%, 05/15/31			75		60,477
6.13%, 04/01/36			95		103,051
5.15%, 11/15/43			45		44,597
4.60%, 05/01/53			110		97,168
CenterPoint Energy Houston Electric LLC
5.20%, 10/01/28			10		10,255
4.50%, 04/01/44			50		45,635
Sereis AJ, 4.85%, 10/01/52			40		38,151
Series AF, 3.35%, 04/01/51			81		60,282
Commonwealth Edison Co.
5.30%, 02/01/53			45		45,353
Series 131, 2.75%, 09/01/51			225		144,112
Consolidated Edison Co. of New York, Inc.
4.50%, 12/01/45			34		30,358
6.15%, 11/15/52			170		191,328
Constellation Energy Generation LLC
5.80%, 03/01/33			15		15,649
6.50%, 10/01/53			25		27,942
Consumers Energy Co.
4.60%, 05/30/29			40		40,082

Security		Par (000)		Value
Electric Utilities (continued)
Consumers Energy Co. (continued)
4.63%, 05/15/33	USD		175	$	173,157
3.25%, 08/15/46			89		67,721
4.35%, 04/15/49			56		49,957
3.10%, 08/15/50			37		26,686
2.50%, 05/01/60			30		17,663
Dominion Energy South Carolina, Inc., 6.25%, 10/15/53			39		44,381
Dominion Energy, Inc., Series A, 4.35%, 08/15/32			50		47,694
DTE Electric Co.
5.20%, 04/01/33			80		82,412
2.95%, 03/01/50			39		27,024
Series A, 4.05%, 05/15/48			65		54,511
Series B, 3.65%, 03/01/52			20		15,526
Duke Energy Carolinas LLC
4.95%, 01/15/33			20		20,153
3.88%, 03/15/46			46		36,925
3.70%, 12/01/47			51		39,596
3.20%, 08/15/49			52		37,159
3.45%, 04/15/51			149		110,484
3.55%, 03/15/52			92		68,909
5.35%, 01/15/53			35		35,195
5.40%, 01/15/54			231		233,734
Duke Energy Corp.
4.85%, 01/05/29			135		135,421
6.10%, 09/15/53			110		118,375
Duke Energy Florida LLC
2.50%, 12/01/29			128		113,867
1.75%, 06/15/30			32		26,725
4.20%, 07/15/48			47		39,610
3.00%, 12/15/51			120		80,035
5.95%, 11/15/52			207		224,419
Duke Energy Indiana LLC, 5.40%, 04/01/53			10		9,984
Duke Energy Ohio, Inc., 5.65%, 04/01/53			26		26,892
Duke Energy Progress LLC
3.45%, 03/15/29			71		67,539
3.40%, 04/01/32(e)			195		175,953
2.50%, 08/15/50			97		59,911
2.90%, 08/15/51			80		52,597
4.00%, 04/01/52			10		8,042
5.35%, 03/15/53			219		219,004
Edison International
4.70%, 08/15/25			101		100,108
5.75%, 06/15/27			91		92,988
4.13%, 03/15/28			20		19,400
5.25%, 11/15/28			53		53,506
6.95%, 11/15/29			222		241,120
Electricite de France SA, 4.25%, 01/25/32(f)	EUR		100		112,104
EnBW International Finance BV, 3.85%, 05/23/30(f)			18		20,008
Entergy Arkansas LLC, 3.35%, 06/15/52	USD		41		29,243
Entergy Corp., 2.80%, 06/15/30			20		17,567
Entergy Louisiana LLC, 4.20%, 09/01/48			20		16,678
Entergy Texas, Inc., 5.80%, 09/01/53			100		106,452
Evergy Kansas Central, Inc.
5.90%, 11/15/33			20		21,377
5.70%, 03/15/53			40		41,681
Eversource Energy
4.75%, 05/15/26			150		149,059
5.45%, 03/01/28			86		87,557
5.13%, 05/15/33			50		49,234
Series O, 4.25%, 04/01/29			28		26,966

9

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Electric Utilities (continued)
Exelon Corp.
3.35%, 03/15/32	USD		110	$	97,656
5.60%, 03/15/53			40		40,332
FirstEnergy Transmission LLC, 4.55%, 04/01/49(a)			126		107,800
Florida Power & Light Co.
5.05%, 04/01/28			30		30,721
5.10%, 04/01/33			110		112,970
4.05%, 10/01/44			60		52,196
3.70%, 12/01/47			34		27,034
3.95%, 03/01/48			51		42,659
3.99%, 03/01/49			32		26,791
3.15%, 10/01/49			38		27,423
5.30%, 04/01/53			190		194,162
Georgia Power Co.
4.95%, 05/17/33			111		111,036
5.13%, 05/15/52			90		88,746
Series 10-C, 4.75%, 09/01/40			50		46,965
Idaho Power Co., 5.80%, 04/01/54			25		26,298
Indiana Michigan Power Co., 5.63%, 04/01/53			20		20,656
Kentucky Utilities Co., 3.30%, 06/01/50			25		17,947
MidAmerican Energy Co.
5.85%, 09/15/54			81		88,529
5.30%, 02/01/55			30		30,428
National Grid PLC, 5.42%, 01/11/34			40		40,061
National Rural Utilities Cooperative Finance Corp.
5.60%, 11/13/26			40		41,014
5.05%, 09/15/28			70		71,451
Nevada Power Co.
6.00%, 03/15/54			15		16,127
Series CC, 3.70%, 05/01/29			35		33,485
NextEra Energy Capital Holdings, Inc.
6.05%, 03/01/25			130		131,096
4.95%, 01/29/26			135		135,006
5.05%, 02/28/33			50		49,866
5.55%, 03/15/54			65		65,058
Northern States Power Co.
2.90%, 03/01/50			96		65,802
2.60%, 06/01/51			162		103,697
3.20%, 04/01/52			108		77,735
4.50%, 06/01/52			86		77,646
5.10%, 05/15/53			120		118,947
NSTAR Electric Co., 4.95%, 09/15/52			50		47,806
Oglethorpe Power Corp.
5.05%, 10/01/48			10		9,018
6.20%, 12/01/53(a)			75		79,672
Ohio Power Co.
5.00%, 06/01/33			177		177,396
Series P, 2.60%, 04/01/30			422		369,887
Series R, 2.90%, 10/01/51			249		163,971
Oncor Electric Delivery Co. LLC
2.75%, 05/15/30			20		17,906
5.65%, 11/15/33			50		52,972
5.30%, 06/01/42			135		142,878
Pacific Gas and Electric Co.
3.50%, 06/15/25			35		34,108
3.15%, 01/01/26			60		57,682
2.95%, 03/01/26			65		61,966
3.30%, 03/15/27			150		141,704
6.10%, 01/15/29			50		51,802
4.50%, 07/01/40			60		51,663
4.25%, 03/15/46			91		71,350
4.00%, 12/01/46			93		69,914
4.95%, 07/01/50			164		142,922

Security		Par (000)		Value
Electric Utilities (continued)
Pacific Gas and Electric Co. (continued)
3.50%, 08/01/50	USD		122	$	85,182
5.25%, 03/01/52			68		60,878
6.75%, 01/15/53			60		65,972
6.70%, 04/01/53			138		151,891
PacifiCorp, 5.30%, 02/15/31			60		60,868
PacifiCorp.
5.35%, 12/01/53			20		18,917
5.50%, 05/15/54			30		28,980
PECO Energy Co.
3.70%, 09/15/47			162		128,870
2.85%, 09/15/51			100		66,316
4.60%, 05/15/52			54		49,693
4.38%, 08/15/52			254		223,658
PPL Electric Utilities Corp.
4.85%, 02/15/34			105		105,319
5.25%, 05/15/53			40		40,302
Public Service Co. of Colorado
5.25%, 04/01/53			20		19,654
Series 39, 4.50%, 06/01/52			60		51,732
Public Service Co. of New Hampshire, 5.15%, 01/15/53			111		110,569
Public Service Electric and Gas Co.
4.65%, 03/15/33			80		79,400
3.95%, 05/01/42(e)			60		51,670
2.05%, 08/01/50			88		52,301
5.45%, 08/01/53			100		104,827
Puget Sound Energy, Inc., 5.45%, 06/01/53			10		10,188
San Diego Gas & Electric Co.
5.35%, 04/01/53			291		291,106
Series VVV, 1.70%, 10/01/30			100		82,675
Sempra, 4.00%, 02/01/48			80		64,615
Sierra Pacific Power Co., 5.90%, 03/15/54(a)			30		31,445
Southern California Edison Co.
5.30%, 03/01/28			60		61,572
2.85%, 08/01/29			99		90,279
2.25%, 06/01/30			230		197,938
5.95%, 11/01/32			230		245,165
5.20%, 06/01/34			100		100,756
5.63%, 02/01/36			54		55,476
5.50%, 03/15/40			35		35,206
3.45%, 02/01/52			80		57,691
5.70%, 03/01/53			50		51,411
5.88%, 12/01/53			20		20,981
Series A, 4.20%, 03/01/29			230		225,176
Series G, 2.50%, 06/01/31			40		34,093
Southern Co.
3.25%, 07/01/26			250		241,254
4.85%, 06/15/28			95		95,578
5.70%, 03/15/34(e)			40		41,828
Series B, (5-year CMT + 3.73%), 4.00%, 01/15/51(c)			60		57,663
Southwestern Electric Power Co.
5.30%, 04/01/33			10		10,038
Series M, 4.10%, 09/15/28			20		19,399
Talen Energy Supply LLC, 8.63%, 06/01/30(a)			60		63,679
Tucson Electric Power Co., 5.50%, 04/15/53			10		10,109
Union Electric Co., 5.45%, 03/15/53(e)			52		52,646
Virginia Electric and Power Co.
6.35%, 11/30/37			50		55,095
4.45%, 02/15/44			33		29,230
5.45%, 04/01/53			100		101,755
5.70%, 08/15/53			140		146,301

SCHEDULE OF INVESTMENTS 10

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Electric Utilities (continued)
Virginia Electric and Power Co. (continued)
Series B, 3.75%, 05/15/27	USD		100	$	97,485
Series B, 4.20%, 05/15/45			125		105,467
WEC Energy Group, Inc., 5.60%, 09/12/26			50		51,085
Wisconsin Power and Light Co., 3.95%, 09/01/32			60		56,533
Xcel Energy, Inc., 4.60%, 06/01/32			55		53,358
					14,882,193
Electrical Equipment — 0.0%
Eaton Corp., 4.00%, 11/02/32			20		19,219
Electronic Equipment, Instruments & Components — 0.4%
Amphenol Corp., 2.20%, 09/15/31			20		16,662
Arrow Electronics, Inc., 3.88%, 01/12/28			20		19,045
Avnet, Inc., 6.25%, 03/15/28			20		20,714
CDW LLC/CDW Finance Corp.
3.25%, 02/15/29			320		289,300
3.57%, 12/01/31			370		324,594
Flex Ltd.
3.75%, 02/01/26			150		145,789
4.88%, 06/15/29			340		333,557
Honeywell International, Inc.
4.25%, 01/15/29			65		64,658
4.50%, 01/15/34			370		365,814
Jabil, Inc., 4.25%, 05/15/27			100		97,871
Keysight Technologies, Inc., 4.60%, 04/06/27			100		99,447
Vontier Corp., 2.95%, 04/01/31			560		465,956
Xerox Holdings Corp., 5.50%, 08/15/28(a)			201		183,122
					2,426,529
Energy Equipment & Services — 0.0%
Helix Energy Solutions Group, Inc., 9.75%, 03/01/29(a)			64		67,153
Kodiak Gas Services LLC, 7.25%, 02/15/29(a)			45		45,538
Patterson-UTI Energy, Inc., 5.15%, 11/15/29			35		33,866
					146,557
Environmental, Maintenance & Security Service — 0.1%
Republic Services, Inc.
1.75%, 02/15/32			33		26,495
2.38%, 03/15/33(e)			51		42,038
5.00%, 04/01/34(e)			27		27,274
Waste Connections, Inc.(e)
2.60%, 02/01/30			150		134,644
3.20%, 06/01/32			85		75,632
Waste Management, Inc., 4.88%, 02/15/34			98		98,660
					404,743
Financial Services — 0.2%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
2.45%, 10/29/26			240		222,382
5.10%, 01/19/29			210		208,766
Air Lease Corp., 3.63%, 12/01/27			50		47,468
Burford Capital Global Finance LLC(a)
6.88%, 04/15/30			15		14,533
9.25%, 07/01/31			5		5,213
Coinbase Global, Inc.(a)
3.38%, 10/01/28			100		81,960
3.63%, 10/01/31			38		28,500
GE Capital International Funding Co. Unlimited Co., 4.42%, 11/15/35			200		193,360
GGAM Finance Ltd., 8.00%, 02/15/27(a)			50		51,511
Intercontinental Exchange, Inc.
3.75%, 09/21/28			20		19,334
5.20%, 06/15/62			80		80,270

Security		Par (000)		Value
Financial Services (continued)
LD Holdings Group LLC, 6.13%, 04/01/28(a)	USD		124	$	101,144
Nationstar Mortgage Holdings, Inc.(a)
5.00%, 02/01/26(e)			54,873
5.50%, 08/15/28			245		232,662
7.13%, 02/01/32			50		49,592
PennyMac Financial Services, Inc., 7.88%, 12/15/29(a)			20		20,599
United Wholesale Mortgage LLC(a)
5.50%, 11/15/25			129		127,405
5.50%, 04/15/29			151		142,596
					1,632,168
Food Products — 0.1%
Archer-Daniels-Midland Co., 4.50%, 08/15/33			20		19,490
Hershey Co.
2.30%, 08/15/26			35		33,268
4.50%, 05/04/33(e)			65		65,276
J M Smucker Co., 3.38%, 12/15/27			20		19,153
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc., 5.75%, 04/01/33			160		158,409
MHP Lux SA, 6.25%, 09/19/29(a)			14		9,870
Nestle Finance International Ltd., 3.25%, 01/23/37(f)	EUR		50		53,962
					359,428
Gas Utilities — 0.2%
AmeriGas Partners LP/AmeriGas Finance Corp.
5.50%, 05/20/25	USD		103		101,170
9.38%, 06/01/28(a)			40		41,124
Atmos Energy Corp.
4.13%, 10/15/44			30		26,448
4.13%, 03/15/49			70		59,464
6.20%, 11/15/53			10		11,444
CenterPoint Energy Resources Corp., 5.25%, 03/01/28(e)			85		87,031
National Grid North America, Inc., 4.67%, 09/12/33(f)	EUR		100		114,402
NiSource, Inc.
3.49%, 05/15/27	USD		111		106,936
5.25%, 03/30/28(e)			208		212,165
5.40%, 06/30/33			186		190,678
5.00%, 06/15/52			45		41,962
ONE Gas, Inc., 5.10%, 04/01/29			60		61,245
Piedmont Natural Gas Co., Inc.
3.50%, 06/01/29			96		89,795
5.40%, 06/15/33			100		102,314
Southern California Gas Co.
6.35%, 11/15/52			15		16,943
5.75%, 06/01/53			100		104,002
Southern Co. Gas Capital Corp.
5.88%, 03/15/41			20		20,508
Series 20-A, 1.75%, 01/15/31			60		48,634
Southwest Gas Corp., 4.05%, 03/15/32			25		23,395
Spire Missouri, Inc., 4.80%, 02/15/33			27		26,848
					1,486,508
Ground Transportation — 0.4%
Burlington Northern Santa Fe LLC
4.90%, 04/01/44			75		73,236
4.15%, 04/01/45			32		28,137
2.88%, 06/15/52			45		30,777
4.45%, 01/15/53			50		45,769
5.20%, 04/15/54			429		437,241
Canadian National Railway Co., 4.40%, 08/05/52			300		273,725
CSX Corp.
3.80%, 11/01/46			81		66,929
4.75%, 11/15/48			25		23,647

11

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Ground Transportation (continued)
CSX Corp. (continued)
3.95%, 05/01/50	USD		79	$	65,162
4.50%, 11/15/52			57		51,918
4.65%, 03/01/68			43		38,768
GN Bondco LLC, 9.50%, 10/15/31(a)			159		156,814
Norfolk Southern Corp.
2.90%, 08/25/51			248		165,662
5.35%, 08/01/54			189		192,729
Ryder System, Inc.
5.65%, 03/01/28			15		15,445
6.30%, 12/01/28			57		60,417
6.60%, 12/01/33			430		469,280
Union Pacific Corp.
2.40%, 02/05/30			255		226,418
2.80%, 02/14/32			20		17,582
3.84%, 03/20/60			300		239,384
3.80%, 04/06/71			44		33,943
XPO, Inc., 7.13%, 02/01/32(a)			30		30,581
					2,743,564
Health Care Equipment & Supplies — 0.1%
Abbott Laboratories, 4.90%, 11/30/46			180		180,050
Agilent Technologies, Inc., 2.30%, 03/12/31			135		115,590
Bausch & Lomb Escrow Corp., 8.38%, 10/01/28(a)			126		130,734
Baxter International, Inc., 3.95%, 04/01/30			20		18,896
Becton Dickinson & Co., 3.79%, 05/20/50			20		16,095
Sartorius Finance BV, 4.88%, 09/14/35(f)	EUR		100		115,871
Thermo Fisher Scientific, Inc.
1.22%, 10/18/24	USD		35		34,010
5.09%, 08/10/33			293		302,862
Zimmer Biomet Holdings, Inc., 5.35%, 12/01/28			80		82,368
					996,476
Health Care Providers & Services — 0.8%
Adventist Health System, 5.43%, 03/01/32			50		50,949
Allina Health System, Series 2019, 3.89%, 04/15/49			50		40,887
Baylor Scott & White Holdings, 4.19%, 11/15/45			50		43,766
Cencora, Inc., 2.70%, 03/15/31			350		305,055
CommonSpirit Health
3.91%, 10/01/50			50		39,442
6.46%, 11/01/52			35		40,336
DaVita, Inc., 4.63%, 06/01/30(a)			40		35,391
Dignity Health, 4.50%, 11/01/42			50		43,128
Elevance Health, Inc.
3.65%, 12/01/27			35		33,732
4.10%, 03/01/28			95		93,279
4.55%, 03/01/48			50		44,962
3.13%, 05/15/50			38		26,834
3.60%, 03/15/51			35		27,056
4.85%, 08/15/54			30		26,267
Fortrea Holdings, Inc., 7.50%, 07/01/30(a)			29		29,473
Hackensack Meridian Health, Inc., Series 2020, 2.68%, 09/01/41			50		35,822
HCA, Inc.
5.38%, 02/01/25			26		25,976
5.25%, 04/15/25			309		308,661
5.88%, 02/15/26			75		75,709
5.25%, 06/15/26			188		188,538
5.38%, 09/01/26			92		92,493
3.50%, 09/01/30			444		402,868
3.63%, 03/15/32			120		106,969
5.13%, 06/15/39			80		76,606
4.63%, 03/15/52			75		63,620

Security		Par (000)		Value
Health Care Providers & Services (continued)
HCA, Inc. (continued) 5.90%, 06/01/53	USD		505	$	513,888
Heartland Dental LLC/Heartland Dental Finance Corp., 10.50%, 04/30/28(a)			20		20,851
Humana, Inc.
1.35%, 02/03/27			35		31,632
5.75%, 03/01/28			55		56,842
IQVIA, Inc., 6.25%, 02/01/29(a)			45		46,832
Kaiser Foundation Hospitals
4.88%, 04/01/42			50		48,766
4.15%, 05/01/47			50		43,691
McKesson Corp., 0.90%, 12/03/25			610		568,338
Memorial Sloan-Kettering Cancer Center, Series 2020, 2.96%, 01/01/50			50		34,630
Mount Nittany Medical Center Obligated Group, Series 2022, 3.80%, 11/15/52			50		39,536
Mount Sinai Hospital, Series 2019, 3.74%, 07/01/49(e)			100		75,999
Nationwide Children’s Hospital, Inc., 4.56%, 11/01/52			35		32,409
Northwell Healthcare, Inc., 3.81%, 11/01/49			85		65,234
Novant Health, Inc., 2.64%, 11/01/36			50		38,265
Providence St Joseph Health Obligated Group, Series A, 3.93%, 10/01/48			50		37,754
Star Parent, Inc., 9.00%, 10/01/30(a)			55,258
Sutter Health, 5.55%, 08/15/53			100		105,337
UnitedHealth Group, Inc.
2.00%, 05/15/30			100		85,915
5.35%, 02/15/33(e)			240		251,101
4.25%, 03/15/43			160		145,226
2.90%, 05/15/50			73		50,732
3.25%, 05/15/51			136		99,776
5.88%, 02/15/53			70		77,690
5.05%, 04/15/53			150		149,064
3.88%, 08/15/59			103		82,568
3.13%, 05/15/60			101		69,898
6.05%, 02/15/63			360		410,923
5.20%, 04/15/63			350		350,793
					5,796,767
Health Care REITs — 0.0%
Healthcare Realty Holdings LP, 3.50%, 08/01/26			20		19,111
Healthpeak OP LLC, 4.00%, 06/01/25			20		19,670
Ventas Realty LP, 4.13%, 01/15/26			20		19,582
Welltower OP LLC, 3.85%, 06/15/32			40		36,670
					95,033
Hotel & Resort REITs — 0.0%
Host Hotels & Resorts LP, Series F, 4.50%, 02/01/26			20		19,691
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 5.88%, 10/01/28(a)			104		101,140
					120,831
Hotels, Restaurants & Leisure — 0.5%
Burger King (Restaurant Brands International, Inc.)/New Red Finance, Inc., 4.38%, 01/15/28(a)			103		97,966
Carnival Corp.(a)
7.63%, 03/01/26			191		194,014
6.00%, 05/01/29(e)			55		53,272
10.50%, 06/01/30(e)			100		109,799
Choice Hotels International, Inc., 3.70%, 12/01/29			13		11,564
Darden Restaurants, Inc., 6.30%, 10/10/33			110		117,112
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, Inc., 6.63%, 01/15/32(a)			35		35,074

SCHEDULE OF INVESTMENTS 12

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Hotels, Restaurants & Leisure (continued)
Hyatt Hotels Corp.
1.80%, 10/01/24	USD		200	$	194,904
5.75%, 01/30/27			200		204,568
Marriott International, Inc.
5.45%, 09/15/26			100		101,488
5.55%, 10/15/28			250		257,544
Series HH, 2.85%, 04/15/31			280		243,122
McDonald’s Corp.
3.50%, 03/01/27			500		486,831
3.80%, 04/01/28			50		48,775
3.88%, 02/20/31(f)	EUR		100		111,944
3.63%, 09/01/49	USD		300		234,987
5.15%, 09/09/52			50		49,949
5.45%, 08/14/53			370		385,271
NCL Corp. Ltd., 5.88%, 03/15/26(a)			209		203,790
Raising Cane’s Restaurants LLC, 9.38%, 05/01/29(a)			30		32,145
Royal Caribbean Cruises Ltd.(a)
5.50%, 08/31/26			100		98,986
5.50%, 04/01/28			25		24,682
					3,297,787
Household Durables — 0.1%
Lennar Corp., 4.75%, 11/29/27			10		9,975
MDC Holdings, Inc., 3.97%, 08/06/61			130		95,728
NVR, Inc., 3.00%, 05/15/30			560		501,536
Whirlpool Corp., 4.75%, 02/26/29			130		128,947
					736,186
Household Products — 0.0%
Kimberly-Clark Corp., 2.88%, 02/07/50			15		10,551
Insurance — 0.7%
Aflac, Inc., 4.75%, 01/15/49			10		9,450
American International Group, Inc., 5.13%, 03/27/33			70		70,845
Aon Corp., 2.80%, 05/15/30			40		35,515
Aon Corp./Aon Global Holdings PLC
5.00%, 09/12/32			29		29,022
5.35%, 02/28/33			26		26,574
3.90%, 02/28/52			50		39,412
Arch Capital Group Ltd., 3.64%, 06/30/50			50		38,355
Arthur J Gallagher & Co.
6.50%, 02/15/34			172		188,681
3.50%, 05/20/51			80		58,037
3.05%, 03/09/52			45		29,319
6.75%, 02/15/54			125		144,489
Assured Guaranty U.S. Holdings, Inc., 6.13%, 09/15/28			270		283,128
Athene Holding Ltd., 3.95%, 05/25/51			5		3,770
Berkshire Hathaway Finance Corp.
1.85%, 03/12/30			80		69,706
3.85%, 03/15/52			190		157,187
Brighthouse Financial, Inc., 3.85%, 12/22/51			30		20,241
Brown & Brown, Inc., 4.95%, 03/17/52			230		205,082
Corebridge Financial, Inc.
3.90%, 04/05/32			20		18,016
4.35%, 04/05/42			75		64,194
Enstar Group Ltd., 3.10%, 09/01/31			370		308,622
Fairfax Financial Holdings Ltd., 5.63%, 08/16/32			105		105,131
Hartford Financial Services Group, Inc., 6.10%, 10/01/41			38		40,714
Lincoln National Corp., 3.40%, 01/15/31			20		17,923
Manulife Financial Corp., 2.48%, 05/19/27			20		18,661
Marsh & McLennan Cos., Inc. 4.38%, 03/15/29			200		198,315

Security		Par (000)		Value
Insurance (continued)
Marsh & McLennan Cos., Inc. (continued)
2.38%, 12/15/31	USD		100	$	84,687
4.20%, 03/01/48			150		129,557
4.90%, 03/15/49			200		191,383
5.45%, 03/15/53			732		759,857
MetLife, Inc., 4.05%, 03/01/45			35		30,224
Principal Financial Group, Inc.
5.38%, 03/15/33			45		46,255
5.50%, 03/15/53			110		110,803
Progressive Corp.
4.95%, 06/15/33			50		51,114
3.70%, 03/15/52			30		24,008
Prudential Financial, Inc., (3-mo. LIBOR US + 3.03%), 5.38%, 05/15/45(c)			20		19,708
RenaissanceRe Holdings Ltd., 5.75%, 06/05/33			760		770,954
Travelers Cos., Inc.
4.60%, 08/01/43			40		38,272
5.45%, 05/25/53			20		21,288
Unum Group
4.50%, 12/15/49			50		40,808
4.13%, 06/15/51			140		106,051
					4,605,358
Interactive Media & Services — 0.2%
Alphabet, Inc.
1.90%, 08/15/40			100		68,394
2.25%, 08/15/60			35		20,928
Cogent Communications Group, Inc., 7.00%, 06/15/27(a)			160		160,510
Meta Platforms, Inc.
4.45%, 08/15/52			20		18,002
5.60%, 05/15/53			170		181,424
4.65%, 08/15/62			362		331,868
5.75%, 05/15/63			333		361,150
					1,142,276
Internet Software & Services — 0.1%
Booking Holdings, Inc.
3.55%, 03/15/28			20		19,317
4.63%, 04/13/30			100		100,274
EquipmentShare.com, Inc., 9.00%, 05/15/28(a)			15		15,221
Expedia Group, Inc., 4.63%, 08/01/27			120		119,179
VeriSign, Inc., 2.70%, 06/15/31			310		263,792
					517,783
IT Services — 0.5%
Booz Allen Hamilton, Inc., 5.95%, 08/04/33			25		26,218
Broadridge Financial Solutions, Inc., 2.90%, 12/01/29			20		18,011
Fidelity National Information Services, Inc., 1.15%, 03/01/26			35		32,554
Fiserv, Inc.
5.45%, 03/02/28			80		82,074
5.60%, 03/02/33			185		191,770
5.63%, 08/21/33			770		801,967
4.40%, 07/01/49			60		52,252
International Business Machines Corp.
2.20%, 02/09/27			815		760,748
5.88%, 11/29/32			40		43,141
4.25%, 05/15/49			110		95,638
4.90%, 07/27/52			550		526,001
5.10%, 02/06/53			430		421,045
Leidos, Inc., 3.63%, 05/15/25			35		34,273
					3,085,692

13

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Leisure Products — 0.0%
Hasbro, Inc., 3.50%, 09/15/27	USD		20	$	18,916
Machinery — 0.2%
Caterpillar Financial Services Corp., 5.40%, 03/10/25			65		65,496
CNH Industrial Capital LLC
5.45%, 10/14/25			26		26,179
4.55%, 04/10/28			20		19,832
IDEX Corp.
3.00%, 05/01/30			430		384,918
2.63%, 06/15/31			645		551,748
Ingersoll Rand, Inc.
5.40%, 08/14/28			35		35,900
5.70%, 08/14/33			50		52,219
John Deere Capital Corp.
4.75%, 01/20/28			60		60,878
4.90%, 03/03/28			95		96,704
2.00%, 06/17/31			20		16,883
Otis Worldwide Corp.
5.25%, 08/16/28			60		61,358
2.57%, 02/15/30			160		141,643
Stanley Black & Decker, Inc., 2.30%, 03/15/30			65		55,526
					1,569,284
Media — 0.8%
Advantage Sales & Marketing, Inc., 6.50%, 11/15/28(a)			10		9,404
CCO Holdings LLC/CCO Holdings Capital Corp.(a)
5.38%, 06/01/29			15		13,947
6.38%, 09/01/29			272		264,836
4.75%, 03/01/30			60		53,316
7.38%, 03/01/31(e)			230		232,444
4.75%, 02/01/32			25		21,444
Charter Communications Operating LLC/Charter Communications Operating Capital
6.48%, 10/23/45			230		221,192
3.90%, 06/01/52			224		147,191
3.85%, 04/01/61			613		371,471
5.50%, 04/01/63			300		243,493
Comcast Corp.
5.25%, 11/07/25			150		151,716
4.15%, 10/15/28			300		295,513
2.65%, 02/01/30			37		33,276
3.40%, 04/01/30			35		32,621
4.25%, 10/15/30			34		33,275
4.65%, 02/15/33(e)			310		309,392
4.80%, 05/15/33(e)			46		46,132
3.75%, 04/01/40			142		121,622
4.60%, 08/15/45			103		95,229
2.45%, 08/15/52			114		69,014
2.94%, 11/01/56			233		150,577
2.99%, 11/01/63			593		374,588
Directv Financing LLC, 8.88%, 02/01/30(a)			50		51,003
Directv Financing LLC/Directv Financing Co-Obligor, Inc., 5.88%, 08/15/27(a)			180		171,124
DISH Network Corp., 11.75%, 11/15/27(a)			25		26,093
FactSet Research Systems, Inc.
2.90%, 03/01/27			320		302,061
3.45%, 03/01/32			625		557,469
Fox Corp., 3.05%, 04/07/25			300		292,707
Interpublic Group of Cos., Inc., 3.38%, 03/01/41			5		3,780
Nexstar Media, Inc., 4.75%, 11/01/28(a)			40		36,638
Omnicom Group, Inc., 2.60%, 08/01/31			31		26,463
Paramount Global 4.20%, 05/19/32(e)			90		80,086

Security		Par (000)		Value
Media (continued)
Paramount Global (continued)
5.85%, 09/01/43	USD		63	$	55,988
4.90%, 08/15/44			15		11,868
4.60%, 01/15/45			22		16,781
Sirius XM Radio, Inc., 5.50%, 07/01/29(a)			50		47,500
TEGNA, Inc., 4.63%, 03/15/28			219		204,261
Time Warner Cable LLC, 4.50%, 09/15/42			135		106,724
Univision Communications, Inc.(a)
6.63%, 06/01/27			25		24,730
8.00%, 08/15/28			105		106,845
7.38%, 06/30/30			20		19,608
Warnermedia Holdings, Inc., 5.14%, 03/15/52			190		163,318
					5,596,740
Metals & Mining — 0.5%
BHP Billiton Finance USA Ltd.
4.75%, 02/28/28			235		237,029
5.25%, 09/08/30			250		257,906
4.90%, 02/28/33			75		75,972
5.50%, 09/08/53			150		159,081
FMG Resources August 2006 Pty. Ltd.(a)
4.50%, 09/15/27			15		14,421
5.88%, 04/15/30			54,938
FMG Resources August Pty. Ltd., 6.13%, 04/15/32(a)			178		176,084
Freeport-McMoRan, Inc., 5.45%, 03/15/43			130		125,047
Glencore Funding LLC(a)
2.50%, 09/01/30			35		30,251
6.38%, 10/06/30			226		242,142
Kinross Gold Corp., 4.50%, 07/15/27			20		19,564
Mineral Resources Ltd.(a)
8.13%, 05/01/27			40		40,400
9.25%, 10/01/28			160		169,000
Newmont Corp., 2.25%, 10/01/30			99		84,809
Nucor Corp., 3.13%, 04/01/32			70		62,542
Rain Carbon, Inc., 12.25%, 09/01/29(a)(e)			120		118,795
Reliance Steel & Aluminum Co.
1.30%, 08/15/25			200		188,253
2.15%, 08/15/30			790		668,287
Rio Tinto Finance USA Ltd., 2.75%, 11/02/51			20		13,245
Rio Tinto Finance USA PLC, 5.13%, 03/09/53			340		342,281
Southern Copper Corp., 5.25%, 11/08/42			100		94,350
SunCoke Energy, Inc., 4.88%, 06/30/29(a)			60		54,187
Taseko Mines Ltd., 7.00%, 02/15/26(a)			43,930
Vedanta Resources Finance II PLC, 8.95%, 12/09/28(a)			30		25,950
Vedanta Resources Ltd., 6.13%, 12/09/28(a)			9		7,493
					3,215,957
Office REITs — 0.0%
Alexandria Real Estate Equities, Inc., 4.70%, 07/01/30			40		39,032
Boston Properties LP, 2.45%, 10/01/33			50		38,037
					77,069
Oil, Gas & Consumable Fuels — 3.2%
Antero Resources Corp.(a)
7.63%, 02/01/29(e)			153		157,537
5.38%, 03/01/30			152		144,941
Apache Corp.
5.10%, 09/01/40			108		92,636
4.75%, 04/15/43			79		62,162
BP Capital Markets America, Inc., 3.06%, 06/17/41			80		61,327
BP Capital Markets PLC, 2.82%, 04/07/32(f)	EUR		100		103,893
Cameron LNG LLC, 3.30%, 01/15/35(a)	USD		404		343,210

SCHEDULE OF INVESTMENTS 14

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
Canadian Natural Resources Ltd.
2.95%, 07/15/30	USD		20	$	17,625
6.50%, 02/15/37			10		10,664
Cheniere Corpus Christi Holdings LLC
5.88%, 03/31/25			25		25,069
5.13%, 06/30/27			610		612,982
3.70%, 11/15/29			344		323,919
2.74%, 12/31/39			125		99,790
Cheniere Energy Partners LP
4.50%, 10/01/29			424		404,488
4.00%, 03/01/31			58		52,620
3.25%, 01/31/32			466		395,587
Chevron USA, Inc.
3.90%, 11/15/24			65		64,456
2.34%, 08/12/50			40		24,908
Civitas Resources, Inc.(a)
5.00%, 10/15/26			5		4,870
8.38%, 07/01/28			122		128,309
8.75%, 07/01/31			63		66,976
ConocoPhillips, 5.90%, 05/15/38			100		107,559
ConocoPhillips Co., 3.80%, 03/15/52			5		3,955
Continental Resources, Inc., 4.90%, 06/01/44			5		4,092
CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, 06/15/31(a)			60		55,977
Crescent Energy Finance LLC, 7.25%, 05/01/26(a)			25		24,906
CVR Energy, Inc., 8.50%, 01/15/29(a)			133		133,166
Devon Energy Corp., 5.60%, 07/15/41			47		45,311
Diamond Foreign Asset Co./Diamond Finance LLC, 8.50%, 10/01/30(a)			5		5,139
Diamondback Energy, Inc.
3.25%, 12/01/26			1,127		1,090,803
3.50%, 12/01/29			1,229		1,141,764
3.13%, 03/24/31			866		768,635
6.25%, 03/15/33			30		31,974
6.25%, 03/15/53			10		10,624
Ecopetrol SA
8.88%, 01/13/33			7		7,384
8.38%, 01/19/36			40		40,408
Enbridge, Inc.
4.25%, 12/01/26			65		64,198
6.00%, 11/15/28			70		73,480
5.50%, 12/01/46			20		19,928
Energy Transfer LP
6.05%, 12/01/26			200		205,430
7.38%, 02/01/31(a)			424		445,683
6.63%, 10/15/36			171		184,091
7.50%, 07/01/38			75		87,286
6.05%, 06/01/41			20		20,273
6.50%, 02/01/42			93		98,699
5.15%, 03/15/45			29		26,616
5.30%, 04/15/47			40		36,787
5.40%, 10/01/47			98		91,117
6.25%, 04/15/49(e)			262		271,853
Eni SpA, 3.88%, 01/15/34(f)	EUR		101		110,547
Enterprise Products Operating LLC, 4.15%, 10/16/28	USD		95		93,419
EQT Corp.
3.13%, 05/15/26(a)			172		163,471
3.90%, 10/01/27			259		247,581
5.00%, 01/15/29			143		141,187
7.00%, 02/01/30			184		197,291
3.63%, 05/15/31(a)			56		49,895
Equinor ASA, 3.70%, 04/06/50(e)			55		44,611

Security		Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
Exxon Mobil Corp., 3.45%, 04/15/51	USD		125	$	96,361
Global Partners LP/GLP Finance Corp.
6.88%, 01/15/29			69		67,793
8.25%, 01/15/32(a)			95		97,445
Gran Tierra Energy, Inc., 9.50%, 10/15/29(a)			15		13,219
Hess Corp., 5.60%, 02/15/41			78		82,111
Hilcorp Energy I LP/Hilcorp Finance Co., 8.38%, 11/01/33(a)			55		59,111
Kinder Morgan Energy Partners LP
5.80%, 03/15/35			27		27,559
7.50%, 11/15/40			65		74,067
4.70%, 11/01/42			48		41,689
Kinder Morgan, Inc.
5.00%, 02/01/29			190		190,492
7.80%, 08/01/31			20		22,733
Magellan Midstream Partners LP, 4.85%, 02/01/49			50		43,964
Marathon Petroleum Corp.
4.50%, 04/01/48			30		25,367
5.00%, 09/15/54			140		123,568
MPLX LP
4.00%, 03/15/28			200		193,679
4.50%, 04/15/38			145		130,493
5.20%, 12/01/47			50		45,374
4.70%, 04/15/48			450		387,612
4.95%, 03/14/52			168		149,271
5.65%, 03/01/53			300		296,006
4.90%, 04/15/58			40		34,163
New Fortress Energy, Inc.(a)
6.75%, 09/15/25			35		34,582
6.50%, 09/30/26			104		100,758
NGL Energy Operating LLC/NGL Energy Finance Corp.(a)(h)
8.13%, 02/15/29			101		101,508
8.38%, 02/15/32			202		203,488
NGPL PipeCo LLC(a)
4.88%, 08/15/27			155		152,282
3.25%, 07/15/31			383		332,116
Noble Finance II LLC, 8.00%, 04/15/30(a)			20		20,769
Northwest Pipeline LLC, 4.00%, 04/01/27			458		448,402
Oleoducto Central SA, 4.00%, 07/14/27(a)			12		11,074
ONEOK, Inc.
5.85%, 01/15/26			190		192,714
5.55%, 11/01/26			200		203,372
4.55%, 07/15/28			40		39,551
5.65%, 11/01/28			300		309,663
3.40%, 09/01/29			100		92,480
6.10%, 11/15/32			100		105,247
6.05%, 09/01/33			200		210,000
5.20%, 07/15/48			31		28,610
4.45%, 09/01/49			35		28,756
7.15%, 01/15/51			130		148,054
6.63%, 09/01/53			73		80,391
Ovintiv, Inc.
5.65%, 05/15/25			269		270,298
7.10%, 07/15/53			50		55,633
PBF Holding Co. LLC/PBF Finance Corp.
6.00%, 02/15/28(e)			15		14,661
7.88%, 09/15/30(a)			51		52,827
Petroleos Mexicanos
3.63%, 11/24/25(f)	EUR		100		102,667
6.50%, 03/13/27	USD		74		69,264
5.95%, 01/28/31			10		7,820

15

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Oil, Gas & Consumable Fuels (continued)
Petroleos Mexicanos (continued)
Series 13-2, 7.19%, 09/12/24	MXN		4	$	20,149
Plains All American Pipeline LP/PAA Finance Corp.
3.60%, 11/01/24	USD		35		34,461
3.55%, 12/15/29			225		207,057
4.90%, 02/15/45			45		39,362
Sabine Pass Liquefaction LLC
5.63%, 03/01/25			467		467,842
5.88%, 06/30/26			730		742,638
5.00%, 03/15/27			190		190,493
4.20%, 03/15/28			65		63,641
5.90%, 09/15/37			194		203,397
Shell International Finance BV
4.00%, 05/10/46			75		64,476
3.00%, 11/26/51			140		97,454
Talos Production, Inc.(a)(h)
9.00%, 02/01/29			30		30,400
9.38%, 02/01/31			35		35,789
Targa Resources Corp.
5.20%, 07/01/27			222		222,966
6.15%, 03/01/29			104		108,690
6.50%, 03/30/34			135		145,560
4.95%, 04/15/52			60		52,326
6.25%, 07/01/52			80		82,690
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
5.00%, 01/15/28			20		19,693
5.50%, 03/01/30			250		248,807
4.88%, 02/01/31			309		296,331
4.00%, 01/15/32			75		67,599
Texas Eastern Transmission LP, 3.50%, 01/15/28(a)			661		626,679
TotalEnergies Capital International SA, 2.43%, 01/10/25			35		34,200
TransCanada PipeLines Ltd., 4.75%, 05/15/38			40		37,382
Transcontinental Gas Pipe Line Co. LLC
7.85%, 02/01/26			145		152,072
4.00%, 03/15/28			159		154,661
4.60%, 03/15/48			65		58,469
3.95%, 05/15/50			127		102,408
Transocean, Inc.(a)
11.50%, 01/30/27			88		91,960
8.75%, 02/15/30			123		127,986
Valaris Ltd., 8.38%, 04/30/30(a)			30		30,758
Venture Global LNG, Inc.(a)
8.13%, 06/01/28			25		25,267
9.50%, 02/01/29			112		118,948
8.38%, 06/01/31			20		20,197
9.88%, 02/01/32			119		125,144
Viper Energy Partners LP, 5.38%, 11/01/27(a)			1,305		1,284,133
Viper Energy, Inc., 7.38%, 11/01/31(a)			255		263,508
Williams Cos., Inc.
5.30%, 08/15/28			85		86,608
5.15%, 03/15/34(e)			190		190,484
5.80%, 11/15/43			75		76,714
YPF SA, 9.50%, 01/17/31(a)			49		48,966
					22,060,538
Passenger Airlines(a) — 0.1%
American Airlines, Inc., 8.50%, 05/15/29			80		84,801

Security		Par (000)		Value
Passenger Airlines (continued)
Azul Secured Finance LLP, 11.93%, 08/28/28	USD		200	$	202,625
United Airlines, Inc.
4.38%, 04/15/26			121		116,721
4.63%, 04/15/29			181		167,431
					571,578
Personal Care Products — 0.0%
Colgate-Palmolive Co., 3.70%, 08/01/47			60		51,217
Pharmaceuticals — 0.8%
AbbVie, Inc.
3.80%, 03/15/25			600		592,253
4.55%, 03/15/35			246		240,949
4.50%, 05/14/35			205		200,068
4.05%, 11/21/39			150		135,702
4.25%, 11/21/49			150		131,743
Astrazeneca Finance LLC, 1.75%, 05/28/28			150		134,521
AstraZeneca PLC, 6.45%, 09/15/37			20		23,296
Bausch Health Cos., Inc.(a)
11.00%, 09/30/28			40		27,212
14.00%, 10/15/30			50		27,952
Bayer U.S. Finance LLC, 6.38%, 11/21/30(a)			245		250,088
Bristol-Myers Squibb Co.
3.40%, 07/26/29			200		189,502
3.25%, 08/01/42			80		62,255
4.25%, 10/26/49			20		17,093
2.55%, 11/13/50			80		49,908
3.90%, 03/15/62			370		283,860
Cigna Group, 4.38%, 10/15/28			225		221,865
CVS Health Corp.
4.78%, 03/25/38			29		27,205
2.70%, 08/21/40			72		50,711
5.13%, 07/20/45			180		168,784
5.05%, 03/25/48			29		26,588
4.25%, 04/01/50			100		82,241
Eli Lilly & Co.
4.88%, 02/27/53			45		45,272
4.95%, 02/27/63			70		70,979
Jazz Securities DAC, 4.38%, 01/15/29(a)			75		69,179
Johnson & Johnson
2.63%, 01/15/25			65		63,651
2.45%, 09/01/60			45		27,437
Merck & Co., Inc.
1.70%, 06/10/27			500		459,359
1.90%, 12/10/28			220		197,601
4.15%, 05/18/43			80		72,256
5.00%, 05/17/53			60		60,105
2.90%, 12/10/61			50		32,396
5.15%, 05/17/63			270		274,580
Novartis Capital Corp., 2.75%, 08/14/50			25		17,393
Pfizer Investment Enterprises Pte. Ltd.
4.75%, 05/19/33			245		244,696
5.30%, 05/19/53			159		161,664
5.34%, 05/19/63			10		9,992
Pfizer, Inc.
4.13%, 12/15/46			50		44,097
4.20%, 09/15/48			175		154,546
4.00%, 03/15/49			184		157,409
Takeda Pharmaceutical Co. Ltd., 2.05%, 03/31/30			200		171,469

SCHEDULE OF INVESTMENTS 16

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Pharmaceuticals (continued)
Viatris, Inc., 2.30%, 06/22/27	USD		20	$	18,217
Zoetis, Inc.
3.90%, 08/20/28			300		293,254
5.60%, 11/16/32			65		68,761
					5,658,109
Professional Services — 0.0%
Concentrix Corp., 6.60%, 08/02/28			20		20,562
Verisk Analytics, Inc.
4.13%, 03/15/29			200		195,013
5.50%, 06/15/45(e)			40		38,756
3.63%, 05/15/50			35		26,103
					280,434
Real Estate Management & Development — 0.0%
Anywhere Real Estate Group LLC/Anywhere Co.- Issuer Corp., 7.00%, 04/15/30(a)			111		100,316
CBRE Services, Inc., 2.50%, 04/01/31			50		41,856
Howard Hughes Corp., 4.13%, 02/01/29(a)			100		90,185
					232,357
Residential REITs — 0.1%
Invitation Homes Operating Partnership LP, 5.50%, 08/15/33			40		40,288
NNN REIT, Inc., 3.50%, 04/15/51			174		127,786
Realty Income Corp.
3.00%, 01/15/27			20		19,051
4.75%, 02/15/29			300		299,261
3.25%, 01/15/31			96		86,526
1.80%, 03/15/33			40		30,842
5.13%, 02/15/34			350		347,512
					951,266
Retail REITs — 0.1%
Brixmor Operating Partnership LP, 4.05%, 07/01/30			20		18,704
Kimco Realty OP LLC, 2.80%, 10/01/26			20		18,899
Regency Centers LP, 3.60%, 02/01/27			20		19,257
Simon Property Group LP
1.38%, 01/15/27			120		109,857
3.25%, 09/13/49			90		65,203
5.85%, 03/08/53			100		106,333
					338,253
Semiconductors & Semiconductor Equipment — 0.5%
Analog Devices, Inc.
2.10%, 10/01/31			20		16,922
2.80%, 10/01/41			60		44,190
2.95%, 10/01/51			35		24,377
Broadcom, Inc.
3.15%, 11/15/25			75		72,749
4.00%, 04/15/29(a)			215		206,954
4.15%, 04/15/32(a)			75		70,736
2.60%, 02/15/33(a)			359		294,899
3.42%, 04/15/33(a)			600		526,905
3.47%, 04/15/34(a)			31		26,926
3.14%, 11/15/35(a)			340		279,486
3.19%, 11/15/36(a)			468		380,174
4.93%, 05/15/37(a)			45		43,400
3.50%, 02/15/41(a)			50		39,969
3.75%, 02/15/51(a)			215		168,917
Intel Corp., 5.20%, 02/10/33			120		123,529
KLA Corp.
5.00%, 03/15/49			75		73,708
3.30%, 03/01/50			99		73,941
5.25%, 07/15/62			30		30,479

Security		Par (000)		Value
Semiconductors & Semiconductor Equipment (continued)
Marvell Technology, Inc., 5.75%, 02/15/29	USD		50	$	51,824
Micron Technology, Inc.
5.33%, 02/06/29			130		132,098
6.75%, 11/01/29			25		26,991
5.30%, 01/15/31			125		126,301
NCR Atleos Corp., 9.50%, 04/01/29(a)			95		101,897
NVIDIA Corp., 3.50%, 04/01/40			75		64,728
NXP BV/NXP Funding LLC/NXP USA, Inc.
2.50%, 05/11/31			110		92,189
5.00%, 01/15/33			100		98,015
Texas Instruments, Inc.
1.75%, 05/04/30			260		221,659
2.70%, 09/15/51			46		30,512
					3,444,475
Software — 0.6%
Autodesk, Inc., 2.40%, 12/15/31			31		26,242
Cloud Software Group, Inc., 6.50%, 03/31/29(a)			40		37,349
Electronic Arts, Inc., 2.95%, 02/15/51			25		17,204
Intuit, Inc.
5.20%, 09/15/33			500		518,637
5.50%, 09/15/53			100		106,683
Microsoft Corp.
2.92%, 03/17/52			100		71,779
2.68%, 06/01/60			260		171,286
MicroStrategy, Inc., 6.13%, 06/15/28(a)			69		65,829
MSCI, Inc.(a)
3.88%, 02/15/31			142		128,179
3.63%, 11/01/31			134		117,660
Oracle Corp.
2.50%, 04/01/25			500		485,035
5.80%, 11/10/25			85		86,279
4.50%, 05/06/28			35		34,861
6.15%, 11/09/29			65		69,367
4.65%, 05/06/30			185		183,072
2.88%, 03/25/31			150		131,990
4.90%, 02/06/33			70		69,278
3.80%, 11/15/37			39		33,290
3.60%, 04/01/40			202		161,544
3.65%, 03/25/41			707		562,612
4.50%, 07/08/44			76		66,208
4.13%, 05/15/45			205		168,400
4.00%, 07/15/46			233		187,989
3.60%, 04/01/50			80		58,871
3.95%, 03/25/51			47		36,515
5.55%, 02/06/53			182		180,864
4.38%, 05/15/55			79		65,075
3.85%, 04/01/60			65		47,190
4.10%, 03/25/61			430		327,786
Roper Technologies, Inc., 1.00%, 09/15/25			50		46,926
VMware, Inc., 4.65%, 05/15/27			80		79,293
					4,343,293
Specialized REITs — 0.1%
Extra Space Storage LP
5.50%, 07/01/30			25		25,566
5.90%, 01/15/31			26		27,031
Iron Mountain, Inc., 7.00%, 02/15/29(a)			158		162,020
Public Storage, 2.30%, 05/01/31			340		291,411
Public Storage Operating Co. 1.85%, 05/01/28			300		270,038

17

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Specialized REITs (continued)
Public Storage Operating Co. (continued)
2.25%, 11/09/31	USD		145	$	121,970
5.35%, 08/01/53			100		102,532
					1,000,568
Specialty Retail — 0.1%
Academy Ltd., 6.00%, 11/15/27(a)			98		96,823
Bath & Body Works, Inc., 6.88%, 11/01/35			104		103,704
eG Global Finance PLC, 12.00%, 11/30/28(a)			100		105,698
Foot Locker, Inc., 4.00%, 10/01/29(a)(e)			168		141,913
Gap, Inc., 3.63%, 10/01/29(a)			125		107,057
					555,195
Technology Hardware, Storage & Peripherals — 0.2%
Apple, Inc.
2.38%, 02/08/41			105		76,529
3.85%, 05/04/43			120		106,159
3.95%, 08/08/52			55		47,178
4.85%, 05/10/53			40		40,397
4.10%, 08/08/62			230		200,132
Dell International LLC/EMC Corp.
6.02%, 06/15/26			52		53,127
4.90%, 10/01/26			204		204,048
6.10%, 07/15/27			65		67,575
5.75%, 02/01/33			20		21,003
Hewlett Packard Enterprise Co.
6.10%, 04/01/26			40		39,976
5.25%, 07/01/28			75		76,219
Western Digital Corp., 4.75%, 02/15/26			170		165,365
					1,097,708
Textiles, Apparel & Luxury Goods — 0.1%
NIKE, Inc., 2.85%, 03/27/30			160		146,539
Tapestry, Inc.
4.13%, 07/15/27			150		142,632
7.35%, 11/27/28			60		62,846
7.70%, 11/27/30			80		84,792
3.05%, 03/15/32			485		387,899
7.85%, 11/27/33			110		117,561
					942,269
Thrifts & Mortgage Finance — 0.0%
Freedom Mortgage Holdings LLC, 9.25%, 02/01/29(a)(h)			10		10,126
Tobacco — 1.0%
Altria Group, Inc.
4.80%, 02/14/29(e)			672		673,306
2.45%, 02/04/32			400		327,048
6.88%, 11/01/33			270		297,363
3.40%, 02/04/41			760		562,463
4.50%, 05/02/43			174		148,291
5.95%, 02/14/49			20		20,054
3.70%, 02/04/51			290		202,051
4.00%, 02/04/61			50		36,516
BAT Capital Corp.
3.22%, 09/06/26			160		153,194
3.73%, 09/25/40			80		58,990
7.08%, 08/02/43			290		307,671
7.08%, 08/02/53			539		571,977
BAT International Finance PLC, 1.67%, 03/25/26			200		186,372
Philip Morris International, Inc.
5.13%, 11/17/27			86		87,408
4.88%, 02/15/28			670		675,551
5.63%, 11/17/29			215		224,384
1.75%, 11/01/30			50		41,299

Security		Par (000)			Value
Tobacco (continued)
Philip Morris International, Inc. (continued)
5.75%, 11/17/32	USD		345		$	361,092
5.38%, 02/15/33			670			683,799
5.63%, 09/07/33			90			93,298
4.25%, 11/10/44			950			818,849
Reynolds American, Inc., 5.85%, 08/15/45			59			54,621
						6,585,597
Utilities(f) — 0.1%
Coentreprise de Transport d’Electricite SA, 3.75%, 01/17/36	EUR		100			108,962
EDP Servicios Financieros Espana SA, 3.50%, 07/16/30			200			217,253
						326,215
Water Utilities — 0.0%
American Water Capital Corp.
2.30%, 06/01/31	USD		35			29,693
4.45%, 06/01/32			90			88,464
4.20%, 09/01/48			20			17,472
Essential Utilities, Inc., 5.38%, 01/15/34			120			120,744
						256,373
Wireless Telecommunication Services — 0.4%
Hughes Satellite Systems Corp., 5.25%, 08/01/26			75			63,494
Rogers Communications, Inc., 3.20%, 03/15/27			65			62,130
Sprint LLC
7.13%, 06/15/24			244			245,049
7.63%, 02/15/25			170			172,924
7.63%, 03/01/26			446			465,442
T-Mobile U.S., Inc.
3.50%, 04/15/25			100			98,039
4.80%, 07/15/28			100			100,281
3.88%, 04/15/30			344			325,321
2.55%, 02/15/31			40			34,295
2.88%, 02/15/31			101			88,366
2.70%, 03/15/32			34			28,898
5.05%, 07/15/33			208			208,240
5.65%, 01/15/53			70			72,244
3.60%, 11/15/60			230			165,889
5.80%, 09/15/62			400			421,651
T-Mobile USA, Inc.
5.15%, 04/15/34			86			86,644
5.50%, 01/15/55			75			75,887
VF Ukraine PAT via VFU Funding PLC, 6.20%, 02/11/25(a)			14			11,148
						2,725,942
Total Corporate Bonds — 27.5% (Cost: $179,801,488)						188,616,766
Foreign Agency Obligations
Brazil — 0.1%
Brazil Letras do Tesouro Nacional, 0.00%, 04/01/24(i)	BRL		—	(j)		67,519
Brazilian Government International Bond, 6.13%, 03/15/34(e)	USD		680			673,336
						740,855
Canada — 0.0%
Canada Government International Bond, 2.88%, 04/28/25			35			34,275
Province of Alberta Canada, 1.30%, 07/22/30			10			8,324
Province of Ontario Canada
3.10%, 05/19/27			15			14,483
2.13%, 01/21/32(e)			35			29,991

SCHEDULE OF INVESTMENTS 18

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Canada (continued)
Province of Quebec Canada
0.60%, 07/23/25	USD		25	$	23,578
2.50%, 04/20/26			10		9,609
1.90%, 04/21/31			10		8,550
4.50%, 09/08/33(e)			15		15,140
Series PD, 7.50%, 09/15/29			10		11,632
					155,582
Chile — 0.1%
Chile Government International Bond
3.50%, 01/25/50			200		147,400
4.00%, 01/31/52(e)			200		159,400
					306,800
Colombia — 0.1%
Colombian TES
Series B, 7.50%, 08/26/26	COP		620,900		154,319
Series B, 5.75%, 11/03/27			208,700		48,404
Series B, 6.00%, 04/28/28			419,900		97,084
Series B, 7.75%, 09/18/30			239,800		57,560
Series B, 13.25%, 02/09/33			108,100		33,729
					391,096
Czech Republic — 0.0%
Czech Republic Government Bond
Series 105, 2.75%, 07/23/29	CZK		1,580		65,684
Series 149, 5.50%, 12/12/28			1,250		58,802
Series 150, 5.00%, 09/30/30			670		31,381
Series 49, 4.20%, 12/04/36(f)			220		9,842
					165,709
Guatemala — 0.0%
Guatemala Government Bond, 4.88%, 02/13/28(f)	USD		200		193,250
Hungary — 0.0%
Hungary Government International Bond, 5.38%, 09/12/33(f)	EUR		5		5,614
Indonesia — 0.2%
Indonesia Government International Bond
2.85%, 02/14/30	USD		470		420,702
4.65%, 09/20/32			450		442,175
Indonesia Treasury Bond
Series FR56, 8.38%, 09/15/26	IDR		543,000		36,097
Series FR59, 7.00%, 05/15/27			1,475,000		95,295
Series FR86, 5.50%, 04/15/26			326,000		20,318
					1,014,587
Mexico — 0.4%
Mexican Bonos
Series M, 7.50%, 06/03/27	MXN		12		64,193
Series M, 8.50%, 03/01/29			76		431,544
Series M, 8.50%, 05/31/29			135		765,619
Series M, 8.50%, 11/18/38			13		67,964
Mexico Government International Bond
2.66%, 05/24/31	USD		930		781,200
4.49%, 05/25/32	EUR		100		109,556
3.50%, 02/12/34	USD		405		338,782
6.34%, 05/04/53			400		397,600
					2,956,458
Panama — 0.1%
Panama Government International Bond 3.88%, 03/17/28			580		529,540

Security		Par (000)		Value
Panama (continued)
Panama Government International Bond (continued)
3.16%, 01/23/30	USD		200	$	167,100
3.30%, 01/19/33			200		153,500
					850,140
Peru — 0.1%
Peruvian Government International Bond, 3.55%, 03/10/51			380		277,020
Philippines — 0.1%
Philippines Government International Bond, 3.00%, 02/01/28			710		666,590
Poland — 0.0%
Republic of Poland Government Bond, Series 1059, 2.75%, 10/25/29	PLN		548		122,450
Romania — 0.0%
Romanian Government International Bond
5.25%, 11/25/27(a)	USD		2		1,976
2.13%, 03/07/28(f)	EUR		18		17,726
2.88%, 03/11/29(f)			32,954
2.50%, 02/08/30(f)			32,841
2.12%, 07/16/31(f)			3		2,611
6.38%, 01/30/34(a)	USD		116		118,332
					146,440
Saudi Arabia — 0.0%
Saudi Government International Bond, 4.75%, 01/16/30(a)			200		198,935
South Africa — 0.0%
Republic of South Africa Government Bond, Series R213, 7.00%, 02/28/31	ZAR		2,456		110,123
Supranational — 0.1%
European Union(f)
2.50%, 10/04/52	EUR		170		158,482
Series NGEU, 3.00%, 03/04/53			640		658,945
					817,427
Uruguay — 0.1%
Uruguay Government International Bond
4.38%, 10/27/27	USD		500		499,500
5.10%, 06/18/50			30		29,187
					528,687
Total Foreign Agency Obligations — 1.4% (Cost: $9,441,911)					9,647,763
Municipal Bonds
California — 0.2%
Bay Area Toll Authority, RB, BAB
Series F-2, 6.26%, 04/01/49			100		115,991
Series S-1, 7.04%, 04/01/50			40		49,485
Los Angeles Department of Water & Power, RB, BAB, 6.60%, 07/01/50			100		120,240
Los Angeles Unified School District, GO, BAB
Series KR, 5.75%, 07/01/34			100		106,289
Series RY, 6.76%, 07/01/34			120		135,609
Regents of the University of California Medical Center Pooled Revenue, RB, Series N, 3.26%, 05/15/60			50		34,293
State of California, GO, BAB
7.55%, 04/01/39			150		188,017
7.35%, 11/01/39			100		122,915

19

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
California (continued)
State of California, Refunding GO, 4.60%, 04/01/38	USD		370	$	358,277
University of California, RB, Series AD, 4.86%, 05/15/2112			170		159,408
					1,390,524
Connecticut — 0.0%
State of Connecticut, GO, Series A, 5.85%, 03/15/32			50		53,510
District of Columbia — 0.0%
District of Columbia Water & Sewer Authority, Refunding RB, Series D, Subordinate Lien, 3.21%, 10/01/48			75		57,573
Illinois — 0.1%
Chicago Transit Authority Sales & Transfer Tax Receipts Revenue, RB, Series B, 6.90%, 12/01/40			49		55,722
State of Illinois, GO, 5.10%, 06/01/33			415		411,624
					467,346
Louisiana — 0.0%
Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Class A, 4.15%, 02/01/33			230		224,674
Massachusetts — 0.0%
Commonwealth of Massachusetts, GO, Series H, 2.90%, 09/01/49			50		35,861
Commonwealth of Massachusetts, Refunding GO, Series D, 2.66%, 09/01/39			49		39,687
Massachusetts School Building Authority, Refunding RB, Series C, 2.95%, 05/15/43(e)			50		37,268
Massachusetts Water Resources Authority, Refunding RB, Series C, Sustainability Bonds, 2.82%, 08/01/41			90		71,125
					183,941
Michigan — 0.0%
University of Michigan, RB, Series B, 2.56%, 04/01/50			100		66,797
New Jersey — 0.0%
New Jersey Turnpike Authority, RB, BAB, Series F, 7.41%, 01/01/40			130		161,400
New York — 0.1%
City of New York, GO, Series B-1, Sustainability Bonds, 5.83%, 10/01/53(e)			15		16,926
City of New York, GO, BAB, Series F-1, 6.27%, 12/01/37			75		83,201
Metropolitan Transportation Authority, RB, BAB, 6.67%, 11/15/39			130		146,691
Metropolitan Transportation Authority, Refunding RB, Series C-2, Sustainability Bonds, 5.18%, 11/15/49			50		48,287
New York City Municipal Water Finance Authority, RB, BAB, 5.95%, 06/15/42			50		55,555
New York City Municipal Water Finance Authority, Refunding RB, 5.88%, 06/15/44			60		66,709
New York City Municipal Water Finance Authority, Refunding RB, BAB, 6.01%, 06/15/42			60		67,107
New York State Urban Development Corp., RB, BAB, 5.77%, 03/15/39			50		51,593

Security		Par (000)		Value
New York (continued)
Port Authority of New York & New Jersey, RB
Series 165, 5.65%, 11/01/40	USD		30	$	32,204
Series 168, 4.93%, 10/01/51			110		109,053
					677,326
Pennsylvania — 0.0%
Commonwealth Financing Authority, RB, Series A, 3.86%, 06/01/38			50		46,149
Pennsylvania State University, Refunding RB, Series D, 2.79%, 09/01/43			50		38,105
					84,254
Texas — 0.1%
Board of Regents of the University of Texas System, RB, BAB, Series C, 4.79%, 08/15/46			50		49,436
City of San Antonio Texas Electric & Gas Systems Revenue, RB, BAB, Junior Lien, 5.81%, 02/01/41			50		53,302
Dallas Fort Worth International Airport, Refunding RB, 2.84%, 11/01/46			50		37,267
State of Texas, GO, BAB, 5.52%, 04/01/39			115		123,620
					263,625
Total Municipal Bonds — 0.5% (Cost: $3,462,846)					3,630,970
Non-Agency Mortgage-Backed Securities
Collateralized Mortgage Obligations — 7.1%
A&D Mortgage Trust, Series 2023, 7.05%, 11/25/68(a)(b)			142		145,059
Ajax Mortgage Loan Trust(a)(b)
Series 2021-C, Class A, 2.12%, 01/25/61			49		47,486
Series 2023, 3.50%, 05/25/63			235		222,754
Alternative Loan Trust
Series 2005-31, Class 1A1, (1-mo. Term SOFR + 0.39%), 6.03%, 08/25/35(c)			467		425,045
Series 2006-OA17, Class 1A1D, (1-mo. Term SOFR + 0.40%), 5.76%, 12/20/46(c)			340		292,468
Series 2006-OA2, Class A5, (1-mo. Term SOFR + 0.57%), 5.93%, 05/20/46(c)			214		179,103
Series 2006-OC10, Class 2A3, (1-mo. Term SOFR + 0.57%), 5.93%, 11/25/36(c)			358		288,908
Series 2006-OC7, Class 2A3, (1-mo. Term SOFR + 0.61%), 5.97%, 07/25/46(c)			404		339,047
Series 2007-19, Class 1A34, 6.00%, 08/25/37			289		146,850
American Home Mortgage Investment Trust,
Series 2007-1, Class GA1C, (1-mo. Term SOFR + 0.30%), 5.66%, 05/25/47(c)			361		193,088
Angel Oak Mortgage Trust(a)(b)
Series 2023-7, 4.80%, 11/25/67			177		173,156
Series 2024-1, 5.21%, 08/25/68			50		49,231
CFK Trust, Series 2020-MF2, 2.79%, 03/15/39(a)			330		280,503
Chase Mortgage Finance Trust, Series 2007-A1, Class 3A1, 4.73%, 02/25/37(c)			131		124,713
CHL Mortgage Pass-Through Trust
Series 2007-11, Class A1, 6.00%, 08/25/37			535		231,581
Series 2007-3, Class A17, 6.00%, 04/25/37			159		76,906
Series 2007-4, Class 1A47, 6.00%, 05/25/37			276		122,812
Series 2007-8, 5.88%, 01/25/38			141		62,228
Series 2007-8, 6.00%, 01/25/38			90		40,552

SCHEDULE OF INVESTMENTS 20

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Collateralized Mortgage Obligations (continued)
Connecticut Avenue Securities Trust(a)(c)
Series 2020-R01, Class 1M2, (30-day Avg SOFR + 2.16%), 7.50%, 01/25/40	USD		410	$	415,915
Series 2020-SBT1, Class 1M2, (30-day Avg SOFR + 3.76%), 9.10%, 02/25/40			975		1,027,254
Series 2020-SBT1, Class 2M2, (30-day Avg SOFR + 3.76%), 9.10%, 02/25/40			1,250		1,316,594
Series 2021-R01, Class 1B1, (30-day Avg SOFR + 3.10%), 8.44%, 10/25/41			750		768,518
Series 2021-R01, Class 1M2, (30-day Avg SOFR + 1.55%), 6.89%, 10/25/41			100		100,563
Series 2022-R01, Class 1B1, (30-day Avg SOFR + 3.15%), 8.49%, 12/25/41			865		886,070
Series 2022-R01, Class 1M1, (30-day Avg SOFR + 1.00%), 6.34%, 12/25/41			345		345,369
Series 2022-R01, Class 1M2, (30-day Avg SOFR + 1.90%), 7.24%, 12/25/41			350		353,164
Series 2022-R02, Class 2M1, (30-day Avg SOFR + 1.20%), 6.54%, 01/25/42			772		773,058
Series 2022-R02, Class 2M2, (30-day Avg SOFR + 3.00%), 8.34%, 01/25/42			1,500		1,537,500
Series 2022-R03, Class 1B1, (30-day Avg SOFR + 6.25%), 11.59%, 03/25/42			400		445,217
Series 2022-R04, Class 1M1, (30-day Avg SOFR + 2.00%), 7.34%, 03/25/42			374		379,463
Series 2022-R05, Class 2M2, (30-day Avg SOFR + 3.00%), 8.34%, 04/25/42			1,500		1,544,070
Series 2022-R06, Class 1M1, (30-day Avg SOFR + 2.75%), 8.09%, 05/25/42			1,510		1,555,578
Series 2022-R08, Class 1M1, (30-day Avg SOFR + 2.55%), 7.89%, 07/25/42			471		484,694
Series 2023-R01, Class 1M1, (30-day Avg SOFR + 2.40%), 7.74%, 12/25/42			535		548,874
Series 2023-R02, Class 1M2, (30-day Avg SOFR + 3.35%), 8.69%, 01/25/43			80		84,785
Series 2023-R08, Class 1M1, (30-day Avg SOFR + 1.50%), 6.84%, 10/25/43			1,486		1,492,388
Credit Suisse Mortgage Trust, Series 2022-NQM4, Class A2, 4.82%, 06/25/67(a)(b)			141		139,432
CSMC, Series 2019-NQM1, Class A3, 4.06%, 10/25/59(a)(b)			73		71,255
CSMC Trust(a)(c)
Series 2020-NQM6, 8.85%, 12/25/67			206		208,407
Series 2021-RRL2, 3.53%, 02/25/60			71		71,147
Deephaven Residential Mortgage Trust,
Series 2022-2, Class M1, 4.33%, 03/25/67(a)(c)			100		85,337
Fannie Mae Connecticut Avenue Securities(c)
Series 2015-C04, Class 1M2, (30-day Avg SOFR + 5.81%), 11.15%, 04/25/28			233		248,308
Series 2017-C07, Class 1EB2, (30-day Avg SOFR + 1.11%), 6.45%, 05/25/30			138		138,253
Series 2021-R02, Class 2B1, (30-day Avg SOFR + 3.30%), 8.64%, 11/25/41(a)			500		514,665
Series 2021-R02, Class 2M1, (30-day Avg SOFR + 0.90%), 6.24%, 11/25/41(a)			296		296,345
Series 2021-R02, Class 2M2, (30-day Avg SOFR + 2.00%), 7.34%, 11/25/41(a)			2,150		2,166,104
Fannie Mae Mortgage-Backed Securities, Series 2023- R03, Class 2M1, (30-day Avg SOFR + 2.50%), 7.84%, 04/25/43(a)(c)			250		255,438

Security		Par (000)		Value
Collateralized Mortgage Obligations (continued)
Freddie Mac, Series 2016-DNA4, Class M3, (30-day Avg SOFR + 3.91%), 9.25%, 03/25/29(c)	USD		126	$	131,818
Freddie Mac STACR REMIC Trust(a)(c)
Series 2020-DNA5, Class M2, (30-day Avg SOFR + 2.80%), 8.14%, 10/25/50			499		506,191
Series 2021-DNA1, Class B1, (30-day Avg SOFR + 2.65%), 7.99%, 01/25/51			200		208,126
Series 2021-DNA3, Class M1, (30-day Avg SOFR + 0.75%), 6.09%, 10/25/33			131		131,029
Series 2021-DNA5, Class B1, (30-day Avg SOFR + 3.05%), 8.39%, 01/25/34			465		489,975
Series 2021-DNA6, Class B1, (30-day Avg SOFR + 3.40%), 8.74%, 10/25/41			1,350		1,387,940
Series 2021-DNA7, Class B1, (30-day Avg SOFR + 3.65%), 8.99%, 11/25/41			1,294		1,339,249
Series 2021-HQA1, Class M2, (30-day Avg SOFR + 2.25%), 7.59%, 08/25/33			657		668,172
Series 2021-HQA3, Class B1, (30-day Avg SOFR + 3.35%), 8.69%, 09/25/41			1,610		1,649,022
Series 2021-HQA3, Class M1, (30-day Avg SOFR + 1.85%), 7.19%, 11/25/43			724		730,646
Series 2021-HQA3, Class M2, (30-day Avg SOFR + 2.10%), 7.44%, 09/25/41			700		703,042
Series 2021-HQA4, Class M1, (30-day Avg SOFR + 0.95%), 6.29%, 12/25/41			1,418		1,408,553
Series 2021-HQA4, Class M2, (30-day Avg SOFR + 2.35%), 7.69%, 12/25/41			750		752,580
Series 2022-DNA1, Class M2, (30-day Avg SOFR + 2.50%), 7.84%, 01/25/42			980		989,097
Series 2022-DNA4, Class M1A, (30-day Avg SOFR + 2.20%), 7.54%, 05/25/42			333		338,794
Series 2022-HQA1, Class M1A, (30-day Avg SOFR + 2.10%), 7.44%, 03/25/42			345		348,373
Series 2022-HQA1, Class M2, (30-day Avg SOFR + 5.25%), 10.59%, 03/25/42			1,250		1,345,739
Series 2023-DNA1, Class M1A, (30-day Avg SOFR + 2.10%), 7.44%, 03/25/43			861		876,809
Series 2023-HQA1, Class M1A, (30-day Avg SOFR + 2.00%), 7.34%, 05/25/43			1,298		1,312,968
Freddie Mac Structured Agency Credit Risk Debt Notes(c)
Series 2017-DNA1, Class M2, (30-day Avg SOFR + 3.36%), 8.70%, 07/25/29			341		352,843
Series 2017-HQA1, Class M2, (30-day Avg SOFR + 3.66%), 9.00%, 08/25/29			114		118,747
Series 2018-DNA1, Class M2, (30-day Avg SOFR + 1.91%), 7.25%, 07/25/30			796		804,093
Series 2020-HQA5, Class B1, (30-day Avg SOFR + 4.00%), 9.34%, 11/25/50(a)			750		829,096
Series 2020-HQA5, Class M2, (30-day Avg SOFR + 2.60%), 7.94%, 11/25/50(a)			2,003		2,045,675
Series 2021-DNA2, Class B1, (30-day Avg SOFR + 3.40%), 8.74%, 08/25/33(a)			205		222,988
Series 2023-DNA2, Class M1A, (30-day Avg SOFR + 2.10%), 7.44%, 04/25/43(a)			1,074		1,098,425
GCAT Trust, 4.25%, 05/25/67(a)(c)			157		146,310
GS Mortgage-Backed Securities Trust, Series 2022- NQM1, Class A4, 4.00%, 05/25/62(a)(c)			78		71,800
GSMPS Mortgage Loan Trust, Series 2005-RP2, Class 1AF, (1-mo. Term SOFR + 0.46%), 5.82%, 03/25/35(a)(c)			155		139,969

21

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Collateralized Mortgage Obligations (continued)
Homeward Opportunities Fund I Trust, Series 2020-2, 5.45%, 05/25/65(a)(c)	USD		570	$	550,683
Homeward Opportunities Fund Trust, Series 2022-1, Class A1, 5.08%, 07/25/67(a)(b)			90		89,707
JP Morgan Alternative Loan Trust, Series 2006-A1, 4.80%, 03/25/36(c)			840		644,905
KSL Commercial Mortgage Trust, Series 2023-HT, (1-mo. Term SOFR + 2.29%), 7.62%, 12/15/36(a)(c)			100		100,376
MASTR Reperforming Loan Trust, Series 2005-1, Class 1A3, 7.00%, 08/25/34(a)			366		260,766
MFA Trust, Series 2022-NQM1, Class M1, 4.26%, 12/25/66(a)(c)			100		86,542
Mill City Mortgage Loan Trust, Series 2023-NQM1, Class A1, 6.05%, 10/25/67(a)(b)			139		139,996
Morgan Stanley Resecuritization Trust, Series 2015- R2, Class 1B, (12-mo. MTA + 0.71%), 4.34%, 12/27/46(a)(c)			349		293,474
MSWF Commercial Mortgage Trust(c)
Series 2023-2, 1.14%, 12/15/56			1,114		73,460
Series 2023-2, 6.01%, 12/15/56			40		43,568
PRET LLC, Series 2024-NAPL, 7.14%, 01/25/54(a)(b)			187		186,677
PRKCM Trust(a)
Series 2022-AFC1, Class A1A, 4.10%, 04/25/57(c)			95		91,367
Series 2023-AFC1, Class A1, 6.60%, 02/25/58(b)			125		125,644
RALI Trust, Series 2007-QH3, Class A1, (1-mo. Term SOFR + 0.43%), 5.79%, 04/25/37(c)			157		137,681
RCO Mortgage LLC, Series 2024-1, 7.02%, 01/25/29(a)			116		115,840
Reperforming Loan REMIC Trust(a)(c)
Series 2005-R1, (1-mo. Term SOFR + 0.47%), 5.81%, 03/25/35			202		182,866
Series 2005-R1, Class 1AF1, (1-mo. Term SOFR + 0.47%), 5.83%, 03/25/35			33		30,093
Series 2005-R2, Class 1AF1, (1-mo. Term SOFR + 0.45%), 5.81%, 06/25/35			18		16,787
Residential Asset Securitization Trust
Series 2006-A14CB, 6.25%, 12/25/36			347		243,014
Series 2007-A9, Class A1, (1-mo. Term SOFR + 0.66%), 6.02%, 09/25/37(c)			1,088		318,570
Series 2007-A9, Class A2, (1-mo. Term SOFR + 6.34%), 0.98%, 09/25/37(c)			1,088		128,853
RFMSI Trust, Series 2007-SA4, Class 3A1, 5.42%, 10/25/37(c)			262		159,900
Sequoia Mortgage Trust(a)(c)
Series 2017-CH1, Class B3, 4.52%, 08/25/47			143		127,945
Series 2017-CH2, Class B3, 4.51%, 12/25/47			149		138,879
TVC Mortgage Trust, Series 2023-RTL1, 8.25%, 11/25/27(a)(b)			175		176,074
Verus Securitization Trust(a)(c)
Series 2023-3, 4.08%, 02/25/67			100		77,337
Series 2023-INV1, Class M1, 7.59%, 02/25/68			120		121,797
Wachovia Mortgage Loan Trust, Series 2006-AMN1,
Class A2, (1-mo. Term SOFR + 0.41%), 1.82%, 08/25/36(c)			1,048		359,032
WaMu Mortgage Pass-Through Certificates
Series 2007-HY4 Trust, Series 2007-HY4, Class 1A1, 3.33%, 04/25/37(c)			391		336,128

Security		Par (000)		Value
Collateralized Mortgage Obligations (continued)
WaMu Mortgage Pass-Through Certificates Series 2007-OA5 Trust, Series 2007-OA5, Class 1A, (12-mo. MTA + 0.75%), 5.76%, 06/25/47(c)	USD		92	$	73,502
Washington Mutual Mortgage Pass-Through Certificates Trust
Series 2005-9, Class 5A1, 5.50%, 11/25/35			173		132,253
Series 2006-6, Class 3CB1, 7.00%, 08/25/36			357		140,670
Series 2007-5, Class A6, 6.00%, 06/25/37			166		146,031
Series 2007-OA3, Class 5A, (12-mo. MTA + 1.25%), 6.26%, 04/25/47(c)			95		78,481
Washington Mutual Mortgage Pass-Through
Certificates WMALT Series 2005-AR1 Trust, Series 2005-AR1, Class A1A, (1-mo. Term SOFR + 0.63%), 5.99%, 12/25/35(c)			178		146,953
Washington Mutual Mortgage Pass-Through
Certificates WMALT Series 2006-8 Trust,
Series 2006-8, 4.15%, 10/25/36(b)			86		29,346
Washington Mutual Mortgage Pass-Through
Certificates WMALT Series 2007-OA2 Trust,
Series 2007-OA2, Class 2A, (12-mo. MTA + 0.70%), 5.71%, 01/25/47(c)			211		165,823
					49,114,344
Commercial Mortgage-Backed Securities — 2.6%
280 Park Avenue 2017-280P Mortgage Trust, Series 2017-280P, Class B, (1-mo. Term SOFR + 1.38%), 6.74%, 09/15/34(a)(c)			283		270,831
3650R 2021-PF1 Commercial Mortgage Trust, Series 2022-PF2, Class A5, 5.29%, 11/15/55(c)			300		304,469
ACREC LLC, Series 2023-FL2, Class A, (1-mo. Term SOFR + 2.23%), 7.59%, 02/19/38(a)(c)			150		149,913
Banc of America Alternative Loan Trust, Series 2003-8, Class 1CB1, 5.50%, 10/25/33			65		63,451
Banc of America Funding Trust, Series 2007-3, (1-mo. Term SOFR + 0.29%), 5.63%, 04/25/37(c)			228		185,646
Bank
Series 2019-BN19, Class A3, 3.18%, 08/15/61			250		222,148
Series 2019-BN20, Class A3, 3.01%, 09/15/62			250		218,706
Series 2022-BNK41, Class A4, 3.79%, 04/15/65(c)			150		139,177
Series BN37, Class A4, 2.37%, 11/15/64			350		293,231
BBCMS Mortgage Trust
Series 2023-C19, Class A5, 5.45%, 04/15/56			40		41,771
Series 2023-C22, Class A5, 6.80%, 11/15/56(c)			530		608,667
Bear Stearns Asset Backed Securities I Trust, Series IM1, (1-mo. Term SOFR + 0.67%), 6.01%, 04/25/36(c)			197		178,113
Beast Mortgage Trust(a)(c)
Series 2021-SSCP, Class A, (1-mo. Term SOFR + 0.86%), 6.23%, 04/15/36			263		259,959
Series 2021-SSCP, Class G, (1-mo. Term SOFR + 3.91%), 9.28%, 04/15/36			30		28,218
Series 2021-SSCP, Class H, (1-mo. Term SOFR + 5.02%), 10.38%, 04/15/36			30		28,159
BHP Trust, Series 2019-BXHP, Class C, (1-mo. Term SOFR + 1.57%), 6.93%, 08/15/36(a)(c)			21		20,823
BMO Mortgage Trust, Series 2023, 0.95%, 06/15/56(c)			349		17,649
BX Commercial Mortgage Trust(a)(c) Series 2019-XL, Class A, (1-mo. Term SOFR + 1.03%), 6.40%, 10/15/36			118		117,449

SCHEDULE OF INVESTMENTS 22

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Commercial Mortgage-Backed Securities (continued)
BX Commercial Mortgage Trust(a)(c) (continued)
Series 2020-VKNG, Class A, (1-mo. Term SOFR + 1.04%), 6.41%, 10/15/37	USD		179	$	178,230
Series 2020-VKNG, Class D, (1-mo. Term SOFR + 1.81%), 7.18%, 10/15/37			332		329,175
Series 2021-VIV5, Class A, 2.84%, 03/09/44			140		119,469
Series 2022-CSMO, Class B, (1-mo. Term SOFR + 3.14%), 8.50%, 06/15/27			488		489,268
Series 2022-LP2, Class A, (1-mo. Term SOFR + 1.01%), 6.37%, 02/15/39			122		120,485
Series 2023-VLT3, (1-mo. Term SOFR + 1.94%), 7.27%, 11/15/28			200		200,336
Series 2023-XL3, Class A, (1-mo. Term SOFR + 1.76%), 7.09%, 12/09/40			100		100,625
Series 2023-XL3, Class D, (1-mo. Term SOFR + 3.59%), 8.92%, 12/09/40			333		335,919
Series 2024-XL4, (1-mo. Term SOFR + 1.44%), 6.44%, 02/15/39			100		99,750
Series 2024-XL4, (1-mo. Term SOFR + 3.14%), 8.14%, 02/15/39			170		169,575
Series 2024-XL4, (1-mo. Term SOFR + 4.19%), 9.19%, 02/15/39			110		109,725
BX Trust(a)
Series 2019-OC11, Class A, 3.20%, 12/09/41			87		78,368
Series 2021-ARIA, Class A, (1-mo. Term SOFR + 1.01%), 6.38%, 10/15/36(c)			242		238,673
Series 2021-ARIA, Class C, (1-mo. Term SOFR + 1.76%), 7.12%, 10/15/36(c)			410		402,056
Series 2021-ARIA, Class E, (1-mo. Term SOFR + 2.36%), 7.72%, 10/15/36(c)			270		263,081
Series 2021-MFM1, Class A, (1-mo. Term SOFR + 0.81%), 6.18%, 01/15/34(c)			165		163,408
Series 2022-IND, Class A, (1-mo. Term SOFR + 1.49%), 6.85%, 04/15/37(c)			108		108,022
Series 2022-LBA6, Class A, (1-mo. Term SOFR + 1.00%), 6.36%, 01/15/39(c)			150		148,781
Series 2023, (1-mo. Term SOFR + 4.39%), 9.72%, 05/15/38(c)			262		263,310
Series 2023, Class A, (1-mo. Term SOFR + 2.69%), 8.05%, 05/15/38(c)			140		141,225
CAMB Commercial Mortgage Trust, Series 2019-LIFE, Class A, (1-mo. Term SOFR + 1.12%), 6.73%, 12/15/37(a)(c)			100		100,000
CENT Trust, Series 2023, Class A, (1-mo. Term SOFR + 2.62%), 7.95%, 09/15/38(a)(c)			34		34,255
CFCRE Commercial Mortgage Trust, Series 2016-C4, Class AM, 3.69%, 05/10/58			560		530,231
Citigroup Commercial Mortgage Trust, Series 2015- GC27, Class AS, 3.57%, 02/10/48			75		73,025
Cold Storage Trust(a)(c)
Series 2020-ICE5, Class A, (1-mo. Term SOFR + 1.01%), 6.37%, 11/15/37			149		148,948
Series 2020-ICE5, Class C, (1-mo. Term SOFR + 1.76%), 7.12%, 11/15/37			138		136,974
Series 2020-ICE5, Class F, (1-mo. Term SOFR + 3.61%), 8.96%, 11/15/37			167		165,976
Commercial Mortgage Trust, Series 2015-CR25, Class A4, 3.76%, 08/10/48			460		446,764
Credit Suisse Mortgage Capital Certificates Trust(a)(c) Series 2019-ICE4, Class A, (1-mo. Term SOFR + 1.03%), 6.39%, 05/15/36			150		149,534

Security		Par (000)		Value
Commercial Mortgage-Backed Securities (continued)
Credit Suisse Mortgage Capital Certificates Trust(a)(c) (continued) Series 2019-ICE4, Class B, (1-mo. Term SOFR + 1.28%), 6.64%, 05/15/36	USD		100	$	99,627
CSMC(a)
Series 2020-NET, Class B, 2.82%, 08/15/37			570		528,020
Series 2021-BHAR, Class A, (1-mo. Term SOFR + 1.26%), 6.63%, 11/15/38(c)			300		297,188
Extended Stay America Trust(a)(c)
Series 2021-ESH, Class A, (1-mo. Term SOFR + 1.19%), 6.56%, 07/15/38			137		136,938
Series 2021-ESH, Class F, (1-mo. Term SOFR + 3.81%), 9.18%, 07/15/38			534		531,399
GS Mortgage Securities Corp II(a)(c)
Series 2023, Class C, 5.69%, 09/10/38			530		518,160
Series 2023, Class E, 7.68%, 09/10/38			100		98,253
GS Mortgage Securities Corp Trust, Series 2023, Class B, (1-mo. Term SOFR + 2.79%), 8.12%, 03/15/28(a)(c)			510		510,159
GS Mortgage Securities Trust
Series 2015-GC32, Class C, 4.40%, 07/10/48(c)			56		52,243
Series 2017-GS8, Class A4, 3.47%, 11/10/50			300		280,971
Series 2019-GSA1, Class AS, 3.34%, 11/10/52			190		167,178
Hono Lulu Mortgage Trust, Series 2021-LULU, Class A, (1-mo. Term SOFR + 1.26%), 6.63%, 10/15/36(a)(c)			100		96,327
IMPAC Secured Assets Corp., Series 2006-2, Class 1A2B, (1-mo. Term SOFR + 0.45%), 5.81%, 08/25/36(c)			101		98,319
JP Morgan Chase Commercial Mortgage Securities Trust
Series 2016-JP2, Class A4, 2.82%, 08/15/49			133		124,470
Series 2022, Class B, (1-mo. Term SOFR + 3.37%), 8.71%, 12/15/36(a)(c)			371		371,292
JPMCC Commercial Mortgage Securities Trust, Series 2019-COR5, Class A3, 3.12%, 06/13/52			40		35,408
KSL Commercial Mortgage Trust, Series 2023-HT, Class D, (1-mo. Term SOFR + 4.29%), 9.62%, 12/15/36(a)(c)			558		561,488
MED Trust(a)(c)
Series 2021, Class A, (1-mo. Term SOFR + 1.06%), 6.43%, 11/15/38			481		475,886
Series 2021, Class F, (1-mo. Term SOFR + 4.11%), 9.48%, 11/15/38			481		472,281
MHC Commercial Mortgage Trust, Series 2021-MHC, Class A, (1-mo. Term SOFR + 0.92%), 6.28%, 04/15/38(a)(c)			126		125,084
MHP Trust, Series 2021-STOR, Class G, (1-mo. Term SOFR + 2.86%), 8.23%, 07/15/38(a)(c)			250		240,000
Morgan Stanley Capital I Trust, Series 2016-UB11, Class A4, 2.78%, 08/15/49			305		285,064
MTN Commercial Mortgage Trust, Series 2022-LPFL, Class A, (1-mo. Term SOFR + 1.40%), 6.77%, 03/15/39(a)(c)			100		97,875
One New York Plaza Trust, Series 2020-1NYP, Class A, (1-mo. Term SOFR + 1.06%), 6.43%, 01/15/36(a)(c)			10		9,831
Open Trust, Series 2023, Class A, (1-mo. Term SOFR + 3.09%), 8.42%, 10/15/28(a)(c)			194		195,008
SREIT Trust, Series 2021-MFP, Class A, (1-mo. Term SOFR + 0.85%), 6.21%, 11/15/38(a)(c)			144		142,094

23

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)		Value
Commercial Mortgage-Backed Securities (continued)
Taubman Centers Commercial Mortgage Trust, Series 2022-DPM, Class A, (1-mo. Term SOFR + 2.19%), 7.55%, 05/15/37(a)(c)	USD		174	$	173,563
UBS Commercial Mortgage Trust, Series 2017-C4, Class AS, 3.84%, 10/15/50(c)			580		537,745
Velocity Commercial Capital Loan Trust(a)(c)
Series 2020-1, 2.61%, 02/25/50			592		529,969
Series 2023-2, 7.03%, 05/25/53			148		149,736
Series 2024-1, 6.55%, 01/25/54			140		142,375
Wells Fargo Commercial Mortgage Trust
Series 2015-C26, Class AS, 3.58%, 02/15/48			130		125,499
Series 2017-C40, Class A4, 3.58%, 10/15/50			200		189,910
WFRBS Commercial Mortgage Trust, Series 2014- C25, Class A5, 3.63%, 11/15/47			300		294,114
					17,687,042
Total Non-Agency Mortgage-Backed Securities — 9.7% (Cost: $65,986,837)					66,801,386
U.S. Government Sponsored Agency Securities
Collateralized Mortgage Obligations — 0.0%
Fannie Mae REMICS, 3.00%, 02/25/52			78		12,056
Fannie Mae Strip, 3.00%, 10/15/52			365		60,451
Freddie Mac Multifamily Structured Pass Through Certificates, 5.03%, 10/25/31			33		33,574
Ginnie Mae, Series 2023-119, 2.25%, 04/16/65			40		32,386
					138,467
Commercial Mortgage-Backed Securities — 0.0%
Fannie Mae Interest Strip, 3.00%, 03/25/50			185		31,646
Fannie Mae REMICS, Series 2021-31, Class IB, 4.00%, 06/25/51			57		11,087
Fannie Mae-Aces, Series 2021-M4, Class A2, 1.46%, 02/25/31(c)			150		123,208
					165,941
Mortgage-Backed Securities — 33.0%
Freddie Mac Mortgage-Backed Securities
2.50%, 10/01/31			190		179,602
3.50%, 04/01/48			67		62,570
Ginnie Mae Mortgage-Backed Securities(k)
4.00%, 11/20/40 - 02/20/54			3,159		3,002,562
3.50%, 09/20/46 - 02/20/54			4,697		4,347,213
4.50%, 02/20/49 - 02/20/54			2,694		2,628,204
3.00%, 06/20/50 - 02/20/54			6,140		5,487,396
2.00%, 02/20/51 - 02/20/54			8,821		7,346,760
2.50%, 10/20/51 - 02/20/54			8,302		7,177,035
5.50%, 02/20/53 - 02/20/54			1,860		1,871,565
5.00%, 02/20/54			2,470		2,453,579
6.00%, 02/20/54			1,544		1,567,549
6.50%, 02/20/54			1,173		1,198,914
Uniform Mortgage-Backed Securities
3.00%, 07/01/31 - 02/13/54(k)			17,039		15,143,274
3.50%, 05/01/33 - 03/13/54(k)			17,481		16,015,663
2.50%, 01/01/35 - 02/13/54(k)			29,241		25,025,623
2.00%, 05/01/36 - 02/13/54(k)			47,346		39,237,369
1.50%, 09/01/36 - 02/13/54(k)			4,141		3,395,017
4.00%, 02/15/39 - 02/13/54(k)			12,419		11,795,744
4.50%, 02/15/39 - 03/13/54(k)			15,946		15,456,219

Security		Par (000)		Value
Mortgage-Backed Securities(continued)
Uniform Mortgage-Backed Securities(continued)
5.50%, 09/01/48 - 02/13/54(k)	USD		13,602	$	13,656,162
5.00%, 06/01/52 - 02/13/54(k)			22,968		22,674,459
6.00%, 10/01/52 - 02/13/54(k)			6,138		6,222,407
6.50%, 08/01/53 - 02/13/54(k)			5,392		5,526,123
7.00%, 12/01/53 - 03/13/54(k)			13,808		14,239,663
7.50%, 12/01/53 - 01/01/54			128		133,620
					225,844,292
Total U.S. Government Sponsored Agency Securities — 33.0% (Cost: $224,034,971)					226,148,700
U.S. Treasury Obligations
U.S. Treasury Bonds
4.50%, 08/15/39			2,100		2,190,809
1.13%, 05/15/40 - 08/15/40			5,152		3,253,810
4.38%, 05/15/40 - 08/15/43			5,220		5,273,978
1.88%, 02/15/41 - 11/15/51			2,514		1,662,354
4.75%, 02/15/41 - 11/15/53			3,873		4,134,824
3.13%, 11/15/41 - 05/15/48			6,583		5,462,287
2.38%, 02/15/42 - 05/15/51			1,717		1,221,349
4.00%, 11/15/42 - 11/15/52(e)			5,257		5,048,110
3.88%, 02/15/43			1,015		955,488
2.88%, 05/15/43 - 05/15/52			2,369		1,849,397
3.63%, 08/15/43 - 05/15/53			2,214		1,994,932
3.75%, 11/15/43			4,711		4,342,769
3.00%, 02/15/47 - 08/15/52(e)			8,714		6,964,563
3.38%, 11/15/48			100		85,109
2.25%, 08/15/49			875		594,521
1.38%, 08/15/50			907		488,009
1.63%, 11/15/50			779		448,564
4.13%, 08/15/53			6,534		6,424,760
U.S. Treasury Inflation Indexed Notes, 1.38%, 07/15/33			567		552,817
U.S. Treasury Inflation-Indexed Bonds, 1.50%, 02/15/53			330		296,071
U.S. Treasury Notes
1.50%, 02/15/25			1,400		1,354,227
3.88%, 03/31/25 - 08/15/33			26,952		26,834,571
2.63%, 04/15/25 - 05/31/27			9,819		9,438,780
0.38%, 04/30/25 - 09/30/27			1,687		1,547,568
2.88%, 06/15/25 - 05/15/32			17,398		16,661,290
0.25%, 06/30/25 - 07/31/25			4,036		3,798,002
3.50%, 09/15/25 - 04/30/30			2,738		2,701,063
5.00%, 09/30/25 - 10/31/25			18,040		18,245,021
4.00%, 12/15/25 - 10/31/29			6,969		6,979,164
4.25%, 12/31/25 - 01/31/26			843		843,364
0.50%, 02/28/26 - 08/31/27			3,595		3,244,796
3.75%, 04/15/26 - 12/31/30			1,188		1,176,775
4.13%, 06/15/26 - 11/15/32			5,255		5,315,134
0.88%, 06/30/26			1,421		1,317,533
4.50%, 07/15/26 - 11/15/33			2,612		2,699,698
0.63%, 07/31/26 - 08/15/30			1,490		1,302,877
4.63%, 10/15/26 - 09/30/28			23,524		23,885,007
1.63%, 11/30/26 - 05/15/31			3,308		2,974,444
3.63%, 03/31/28 - 03/31/30			2,009		1,986,990
4.88%, 10/31/28 - 10/31/30(e)			15,940		16,731,446
1.38%, 12/31/28			3,605		3,204,225
4.38%, 11/30/30			3		3,080

SCHEDULE OF INVESTMENTS 24

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund (Percentages shown are based on Net Assets)

Security		Par (000)			Value
U.S. Treasury Obligations (continued)
U.S. Treasury Notes (continued)
1.25%, 08/15/31	USD		3,115		$	2,578,149
2.75%, 08/15/32			616			562,750
3.38%, 05/15/33			412			393,782
Total U.S. Treasury Obligations — 30.5% (Cost: $203,095,040)						209,024,257
Total Long-Term Investments — 109.3% (Cost: $730,944,864)						749,711,383
		Shares
Short-Term Securities
Money Market Funds — 11.2%
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.51%(l)(m)(n)	14,056,754					14,065,188
BlackRock Liquidity Funds, T-Fund, Institutional Class, 5.21%(l)(m)	62,769,116					62,769,116
Total Short-Term Securities — 11.2% (Cost: $76,832,733)						76,834,304
Options Purchased — 0.0% (Cost: $304,472)						172,053
Total Investments Before TBA Sale Commitments and Options Written — 120.5% (Cost: $808,082,069)						826,717,740
		Par (000)
TBA Sale Commitments(k)
Mortgage-Backed Securities — (5.4)%
Ginnie Mae Mortgage-Backed Securities
2.00%, 02/20/54	USD		(725	)		(603,702	)
3.00%, 02/20/54			(33	)		(29,476	)
4.50%, 02/20/54			(1,891	)		(1,841,027	)
5.50%, 02/20/54			(485	)		(488,102	)
Uniform Mortgage-Backed Securities
1.50%, 02/15/39 - 02/13/54			(21	)		(17,185	)
2.00%, 02/15/39 - 02/13/54			(2,571	)		(2,074,677	)
2.50%, 02/15/39 - 02/13/54			(46	)		(41,319	)

Security		Par (000)			Value
Mortgage-Backed Securities (continued)
Uniform Mortgage-Backed Securities (continued)
3.00%, 02/15/39 - 02/13/54	USD		(40	)	$	(36,866	)
3.50%, 02/15/39 - 02/13/54			(3,912	)		(3,560,827	)
4.00%, 02/15/39 - 03/13/54			(3,464	)		(3,260,633	)
4.50%, 02/13/54			(3,309	)		(3,199,130	)
5.00%, 02/13/54			(4,259	)		(4,203,210	)
5.50%, 02/13/54			(2,041	)		(2,046,809	)
6.00%, 02/13/54			(442	)		(448,052	)
6.50%, 02/13/54 - 03/13/54			(8,883	)		(9,092,796	)
7.00%, 02/13/54			(6,120	)		(6,311,657	)
Total TBA Sale Commitments — (5.4)%  (Proceeds: $(37,130,623))					(37,255,468)
Options Written — (0.1)%  (Premiums Received: $(912,695))					(804,639)
Total Investments, Net of TBA Sale Commitments and  Options Written — 115.0%  (Cost: $770,038,751)					788,657,633
Liabilities in Excess of Other Assets — (15.0)%					(102,775,885)
Net Assets — 100.0%					$ 685,881,748

^(a) 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.

^(b) 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.

^(c) 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.

^(d) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

^(e) All or a portion of this security is on loan.

^(f) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

^(g) Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates.

^(h) When-issued security.

⁽ⁱ⁾ Zero-coupon bond.

^(j) Rounds to less than 1,000.

^(k) Represents or includes a TBA transaction. (l) Affiliate of the Fund.

^(m) Annualized 7-day yield as of period end.

⁽ⁿ⁾ All or a portion of this security was purchased with the cash collateral from loaned securities.

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 investment adviser. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease.

25

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 10/31/23		Purchases at Cost			Proceeds from Sale			Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value at 01/31/24		Shares Held at 01/31/24		Income			Capital Gain Distributions from Underlying Funds
BlackRock Cash Funds: Institutional, SL Agency Shares	$	3,160,500	$	10,903,741	(a)	$	—		$	(231	)	$	1,178	$	14,065,188		14,056,754	$	8,444	(b)	$	—
BlackRock Liquidity Funds, T-Fund, Institutional Class		64,574,018		—			(1,804,902	)(a)		—			—		62,769,116		62,769,116		963,005			—
									$	(231	)	$	1,178	$	76,834,304			$	971,449		$	—

^(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.

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
Euro Bund		116		03/07/24	$	17,030	$	17,699
10-Year Australian Treasury Bonds		4		03/15/24		305		7,161
10-Year Canadian Bond		54		03/19/24		4,887		(38,983	)
10-Year U.S. Treasury Note		210		03/19/24		23,595		173,024
U.S. Long Bond		39		03/19/24		4,782		29,586
Ultra U.S. Treasury Bond		53		03/19/24		6,854		240,337
Long Gilt		9		03/26/24		1,140		11,270
5-Year U.S. Treasury Note		154		03/28/24		16,701		153,068
3-Month SONIA Index		1		03/18/25		304		(809	)
								592,353
Short Contracts
30-Year Euro Buxl Bond		7		03/07/24		1,041		(40,359	)
Euro BOBL		7		03/07/24		897		(3,156	)
Euro Bund		13		03/07/24		1,909		(9,521	)
Euro OAT		29		03/07/24		4,086		(108,462	)
10-Year Australian Treasury Bonds		74		03/15/24		5,638		(69,240	)
10-Year Canadian Bond		15		03/19/24		1,357		(38,829	)
10-Year U.S. Treasury Note		59		03/19/24		6,629		(39,684	)
10-Year U.S. Ultra Long Treasury Note		93		03/19/24		10,885		(303,653	)
U.S. Long Bond		18		03/19/24		2,207		(121,935	)
2-Year U.S. Treasury Note		69		03/28/24		14,191		(52,373	)
5-Year U.S. Treasury Note		185		03/28/24		20,062		(96,367	)
3-Month SOFR		3		06/18/24		712		368
								(883,211	)
							$	(290,858	)

Forward Foreign Currency Exchange Contracts

Currency Purchased			Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	12,937			BRL	64,082	BNP Paribas SA		02/02/24	$	2
USD	13,978			BRL	69,241	BNP Paribas SA		02/02/24		3
USD	14,000			BRL	68,820	BNP Paribas SA		02/02/24		109
USD	13,000			BRL	63,823	Citibank N.A.		02/02/24		118
USD	13,000			BRL	63,823	Citibank N.A.		02/02/24		118

SCHEDULE OF INVESTMENTS 26

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	19,883		BRL	98,490	Citibank N.A.		02/02/24	$	4
USD	12,890		BRL	63,849	Morgan Stanley & Co. International PLC		02/02/24		2
USD	32,595		BRL	161,461	Morgan Stanley & Co. International PLC		02/02/24		6
USD	32,595		BRL	161,461	Morgan Stanley & Co. International PLC		02/02/24		6
USD	73,000		BRL	358,539	Morgan Stanley & Co. International PLC		02/02/24		632
COP	514,043,000		USD	131,067	Morgan Stanley & Co. International PLC		02/05/24		866
USD	102,452		EUR	94,661	Citibank N.A.		02/06/24		136
AUD	31,458		EUR	19,000	Goldman Sachs International		02/22/24		101
AUD	31,000		USD	20,270	Barclays Bank PLC		02/22/24		81
CLP	6,525,960		USD	7,000	Barclays Bank PLC		02/22/24		7
COP	50,455,000		GBP	10,000	Morgan Stanley & Co. International PLC		02/22/24		234
COP	50,455,000		GBP	10,000	Morgan Stanley & Co. International PLC		02/22/24		234
COP	78,930,000		USD	20,000	Citibank N.A.		02/22/24		195
COP	139,930,000		USD	35,000	Citibank N.A.		02/22/24		802
GBP	27,000		USD	34,180	BNP Paribas SA		02/22/24		42
HUF	7,379,220		EUR	19,000	UBS AG		02/22/24		184
INR	1,663,840		USD	20,000	Barclays Bank PLC		02/22/24		14
INR	1,663,840		USD	20,000	Barclays Bank PLC		02/22/24		14
JPY	988,208		CAD	9,000	Barclays Bank PLC		02/22/24		39
JPY	4,980,044		EUR	31,000	Barclays Bank PLC		02/22/24		413
JPY	2,948,262		USD	20,000	BNP Paribas SA		02/22/24		94
MXN	243,348		USD	14,000	Barclays Bank PLC		02/22/24		92
MXN	121,061		USD	7,000	Morgan Stanley & Co. International PLC		02/22/24		10
MXN	348,733		USD	20,000	Morgan Stanley & Co. International PLC		02/22/24		194
USD	20,462		AUD	31,000	Barclays Bank PLC		02/22/24		111
USD	20,470		AUD	31,000	Barclays Bank PLC		02/22/24		119
USD	1,000		CLP	911,220	Morgan Stanley & Co. International PLC		02/22/24		22
USD	20,000		CNH	143,302	Barclays Bank PLC		02/22/24		43
USD	20,000		CNH	143,302	Barclays Bank PLC		02/22/24		43
USD	13,000		CZK	293,302	Barclays Bank PLC		02/22/24		242
USD	13,000		CZK	293,302	Barclays Bank PLC		02/22/24		242
USD	10,963		EUR	10,000	Barclays Bank PLC		02/22/24		147
USD	18,637		EUR	17,000	Barclays Bank PLC		02/22/24		250
USD	21,926		EUR	20,000	Barclays Bank PLC		02/22/24		294
USD	19,523		EUR	18,000	BNP Paribas SA		02/22/24		54
USD	66,326		EUR	61,000	UBS AG		02/22/24		348
USD	13,960		GBP	11,000	BNP Paribas SA		02/22/24		17
USD	20,339		GBP	16,000	BNP Paribas SA		02/22/24		59
USD	14,000		HUF	4,875,294	UBS AG		02/22/24		301
USD	20,000		MXN	339,396	Goldman Sachs International		02/22/24		346
USD	20,437		MXN	349,716	UBS AG		02/22/24		186
USD	314,250		MXN	5,377,448	UBS AG		02/22/24		2,854
USD	121,747		PLN	483,942	Barclays Bank PLC		02/22/24		914
USD	19,000		TWD	585,789	Citibank N.A.		02/22/24		232
USD	29,000		TWD	894,099	Citibank N.A.		02/22/24		354
USD	20,286		ZAR	378,537	BNP Paribas SA		02/22/24		101
ZAR	246,326		EUR	12,000	Morgan Stanley & Co. International PLC		02/22/24		156
ZAR	246,329		EUR	12,000	Morgan Stanley & Co. International PLC		02/22/24		156
ZAR	469,291		USD	25,000	Barclays Bank PLC		02/22/24		24
USD	13,000		BRL	64,015	Morgan Stanley & Co. International PLC		03/04/24		111
USD	65,885		CZK	1,490,404	BNP Paribas SA		03/04/24		1,072
USD	2,302		EUR	2,120	Morgan Stanley & Co. International PLC		03/14/24		8
USD	3,450		EUR	3,171	Morgan Stanley & Co. International PLC		03/14/24		17
BRL	120,000		USD	23,867	Barclays Bank PLC		03/20/24		249
CAD	200,000		USD	148,816	BNP Paribas SA		03/20/24		36
CAD	70,000		USD	52,091	Morgan Stanley & Co. International PLC		03/20/24		8
CAD	110,000		USD	81,413	Morgan Stanley & Co. International PLC		03/20/24		456
CHF	40,000		USD	45,968	Barclays Bank PLC		03/20/24		621
CHF	70,000		USD	80,986	Barclays Bank PLC		03/20/24		543
CHF	420,000		USD	482,864	Barclays Bank PLC		03/20/24		6,315
COP	210,000,000		USD	52,624	Barclays Bank PLC		03/20/24		847
COP	710,000,000		USD	179,921	Barclays Bank PLC		03/20/24		860

27

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
COP	240,000,000			USD	59,865	BNP Paribas SA		03/20/24	$	1,244
COP	38,568,724			USD	9,673	Citibank N.A.		03/20/24		148
COP	1,270,000,000			USD	310,692	Citibank N.A.		03/20/24		12,677
COP	74,608,221			USD	18,920	Goldman Sachs International		03/20/24		77
COP	150,000,000			USD	37,348	Goldman Sachs International		03/20/24		845
COP	170,000,000			USD	42,361	Goldman Sachs International		03/20/24		925
COP	230,000,000			USD	57,026	Goldman Sachs International		03/20/24		1,537
COP	290,000,000			USD	72,266	Goldman Sachs International		03/20/24		1,574
COP	380,000,000			USD	95,392	Goldman Sachs International		03/20/24		1,364
COP	180,000,000			USD	44,532	Morgan Stanley & Co. International PLC		03/20/24		1,299
GBP	160,000			USD	202,773	Goldman Sachs International		03/20/24		70
GBP	70,000			USD	88,466	Morgan Stanley & Co. International PLC		03/20/24		278
GBP	130,000			USD	163,228	Morgan Stanley & Co. International PLC		03/20/24		1,582
GBP	20,000			USD	25,332	UBS AG		03/20/24		23
GBP	80,000			USD	100,719	UBS AG		03/20/24		703
HUF	45,000,000			USD	125,850	Barclays Bank PLC		03/20/24		270
HUF	19,000,000			USD	53,106	Morgan Stanley & Co. International PLC		03/20/24		145
HUF	125,000,000			USD	349,922	Morgan Stanley & Co. International PLC		03/20/24		411
INR	3,900,000			USD	46,814	Bank of America N.A.		03/20/24		39
INR	7,700,000			USD	92,470	Bank of America N.A.		03/20/24		34
INR	10,600,000			USD	127,246	Goldman Sachs International		03/20/24		97
INR	71,800,000			USD	858,272	Goldman Sachs International		03/20/24		4,300
KRW	245,000,000			USD	183,615	Bank of America N.A.		03/20/24		449
KRW	260,000,000			USD	194,733	Bank of America N.A.		03/20/24		600
KRW	165,000,000			USD	123,957	Barclays Bank PLC		03/20/24		5
MXN	1,300,000			USD	73,872	Bank of America N.A.		03/20/24		1,071
MXN	5,600,000			USD	316,488	Citibank N.A.		03/20/24		6,343
MXN	700,000			USD	40,262	Goldman Sachs International		03/20/24		92
MXN	1,000,000			USD	57,054	Morgan Stanley & Co. International PLC		03/20/24		594
PLN	150,000			USD	37,287	Barclays Bank PLC		03/20/24		153
PLN	200,000			USD	49,630	Barclays Bank PLC		03/20/24		290
PLN	2,600,000			USD	644,008	Morgan Stanley & Co. International PLC		03/20/24		4,948
PLN	400,000			USD	99,593	UBS AG		03/20/24		246
PLN	1,000,000			USD	248,021	UBS AG		03/20/24		1,578
SEK	82,026			USD	7,878	Bank of America N.A.		03/20/24		19
SEK	1,200,000			USD	115,243	Citibank N.A.		03/20/24		285
SEK	800,000			USD	76,975	Goldman Sachs International		03/20/24		43
SEK	1,717,974			USD	165,055	Goldman Sachs International		03/20/24		340
SEK	1,000,000			USD	96,246	Morgan Stanley & Co. International PLC		03/20/24		27
SEK	8,800,000			USD	844,999	Morgan Stanley & Co. International PLC		03/20/24		2,206
SGD	90,000			USD	67,144	Barclays Bank PLC		03/20/24		85
THB	2,400,000			USD	67,372	Barclays Bank PLC		03/20/24		525
THB	2,700,000			USD	76,019	Barclays Bank PLC		03/20/24		365
THB	4,100,000			USD	115,816	Barclays Bank PLC		03/20/24		174
THB	1,200,000			USD	33,670	Goldman Sachs International		03/20/24		278
THB	3,000,000			USD	84,633	Goldman Sachs International		03/20/24		237
THB	3,000,000			USD	84,641	UBS AG		03/20/24		230
THB	4,800,000			USD	135,547	UBS AG		03/20/24		246
TWD	1,200,000			USD	38,536	Morgan Stanley & Co. International PLC		03/20/24		41
USD	191,694			AUD	290,000	Bank of America N.A.		03/20/24		1,149
USD	274,160			AUD	400,000	Bank of America N.A.		03/20/24		11,339
USD	20,294			AUD	30,000	Barclays Bank PLC		03/20/24		582
USD	60,406			AUD	90,000	Barclays Bank PLC		03/20/24		1,271
USD	94,399			AUD	140,000	Barclays Bank PLC		03/20/24		2,412
USD	138,522			AUD	210,000	Barclays Bank PLC		03/20/24		540
USD	211,440			AUD	320,000	BNP Paribas SA		03/20/24		1,183
USD	68,172			AUD	100,000	Citibank N.A.		03/20/24		2,467
USD	164,487			AUD	250,000	Goldman Sachs International		03/20/24		224
USD	183,842			AUD	270,000	Goldman Sachs International		03/20/24		6,438
USD	85,690			AUD	130,000	Morgan Stanley & Co. International PLC		03/20/24		274
USD	85,759			AUD	130,000	Morgan Stanley & Co. International PLC		03/20/24		342
USD	283,350			AUD	430,000	Morgan Stanley & Co. International PLC		03/20/24		818

SCHEDULE OF INVESTMENTS 28

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	488,834		AUD	740,000	Morgan Stanley & Co. International PLC		03/20/24	$	2,615
USD	926,809		AUD	1,410,000	Morgan Stanley & Co. International PLC		03/20/24		364
USD	20,229		AUD	30,000	UBS AG		03/20/24		517
USD	158,362		AUD	240,000	UBS AG		03/20/24		670
USD	34,326		BRL	170,000	Goldman Sachs International		03/20/24		163
USD	48,666		BRL	240,000	Goldman Sachs International		03/20/24		435
USD	22,365		CAD	30,000	Barclays Bank PLC		03/20/24		38
USD	178,740		CAD	240,000	Barclays Bank PLC		03/20/24		118
USD	148,977		CAD	200,000	Citibank N.A.		03/20/24		124
USD	301,211		CAD	400,000	Goldman Sachs International		03/20/24		3,506
USD	15,044		CAD	20,000	Morgan Stanley & Co. International PLC		03/20/24		159
USD	82,354		CAD	110,000	Morgan Stanley & Co. International PLC		03/20/24		486
USD	134,775		CAD	180,000	UBS AG		03/20/24		808
USD	189,548		CHF	160,000	Barclays Bank PLC		03/20/24		3,194
USD	94,647		CHF	80,000	BNP Paribas SA		03/20/24		1,470
USD	117,635		CHF	100,000	Citibank N.A.		03/20/24		1,164
USD	23,595		CHF	20,000	Goldman Sachs International		03/20/24		301
USD	35,383		CHF	30,000	Goldman Sachs International		03/20/24		442
USD	47,197		CHF	40,000	Goldman Sachs International		03/20/24		608
USD	70,154		CHF	60,000	Goldman Sachs International		03/20/24		272
USD	93,905		CHF	80,000	Goldman Sachs International		03/20/24		728
USD	308,686		CHF	260,000	Goldman Sachs International		03/20/24		5,861
USD	81,537		CHF	70,000	Morgan Stanley & Co. International PLC		03/20/24		7
USD	105,506		CHF	90,000	Morgan Stanley & Co. International PLC		03/20/24		681
USD	106,275		CHF	90,000	Morgan Stanley & Co. International PLC		03/20/24		1,451
USD	35,715		CLP	33,000,000	Barclays Bank PLC		03/20/24		350
USD	66,316		CLP	58,000,000	Barclays Bank PLC		03/20/24		4,159
USD	19,335		CLP	18,000,000	Citibank N.A.		03/20/24		45
USD	33,457		CLP	30,000,000	Citibank N.A.		03/20/24		1,307
USD	59,976		CLP	55,000,000	Citibank N.A.		03/20/24		1,034
USD	83,907		CLP	74,000,000	Citibank N.A.		03/20/24		4,603
USD	34,058		CLP	30,000,000	Goldman Sachs International		03/20/24		1,908
USD	85,825		CLP	79,000,000	Goldman Sachs International		03/20/24		1,162
USD	41,716		CLP	36,440,000	Morgan Stanley & Co. International PLC		03/20/24		2,664
USD	49,793		CLP	45,000,000	Morgan Stanley & Co. International PLC		03/20/24		1,567
USD	71,497		CLP	63,000,000	Morgan Stanley & Co. International PLC		03/20/24		3,981
USD	84,124		CLP	77,000,000	Morgan Stanley & Co. International PLC		03/20/24		1,605
USD	132,465		CZK	3,000,000	Bank of America N.A.		03/20/24		2,037
USD	26,365		CZK	600,000	BNP Paribas SA		03/20/24		279
USD	39,559		CZK	900,000	BNP Paribas SA		03/20/24		431
USD	167,064		CZK	3,800,000	BNP Paribas SA		03/20/24		1,856
USD	35,488		CZK	800,000	Goldman Sachs International		03/20/24		708
USD	69,711		CZK	1,600,000	Goldman Sachs International		03/20/24		149
USD	95,944		CZK	2,200,000	Goldman Sachs International		03/20/24		297
USD	1,160,072		CZK	26,300,000	Morgan Stanley & Co. International PLC		03/20/24		16,656
USD	114,053		CZK	2,600,000	UBS AG		03/20/24		1,015
USD	156,542		CZK	3,500,000	UBS AG		03/20/24		4,376
USD	219,004		EUR	200,000	Bank of America N.A.		03/20/24		2,435
USD	253,271		EUR	230,000	Bank of America N.A.		03/20/24		4,217
USD	32,575		EUR	30,000	BNP Paribas SA		03/20/24		90
USD	32,942		EUR	30,000	BNP Paribas SA		03/20/24		457
USD	43,896		EUR	40,000	BNP Paribas SA		03/20/24		583
USD	59,558		EUR	55,000	BNP Paribas SA		03/20/24		2
USD	87,822		EUR	80,000	BNP Paribas SA		03/20/24		1,194
USD	109,758		EUR	100,000	BNP Paribas SA		03/20/24		1,474
USD	659,972		EUR	600,000	BNP Paribas SA		03/20/24		10,263
USD	101,331		EUR	93,000	Citibank N.A.		03/20/24		627
USD	111,640		EUR	100,000	Citibank N.A.		03/20/24		3,355
USD	153,573		EUR	140,000	Citibank N.A.		03/20/24		1,975
USD	325,856		EUR	299,000	Citibank N.A.		03/20/24		2,085
USD	408,021		EUR	370,000	Goldman Sachs International		03/20/24		7,368
USD	10,953		EUR	10,000	Morgan Stanley & Co. International PLC		03/20/24		125

29

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	18,760		EUR	17,000	Morgan Stanley & Co. International PLC		03/20/24	$	352
USD	76,443		EUR	70,000	Morgan Stanley & Co. International PLC		03/20/24		643
USD	97,077		EUR	89,000	Morgan Stanley & Co. International PLC		03/20/24		704
USD	99,477		EUR	90,000	Morgan Stanley & Co. International PLC		03/20/24		2,021
USD	107,627		EUR	98,000	Morgan Stanley & Co. International PLC		03/20/24		1,508
USD	107,776		EUR	99,000	Morgan Stanley & Co. International PLC		03/20/24		574
USD	143,322		EUR	130,000	Morgan Stanley & Co. International PLC		03/20/24		2,552
USD	216,873		EUR	199,000	Morgan Stanley & Co. International PLC		03/20/24		1,387
USD	232,705		EUR	212,000	Morgan Stanley & Co. International PLC		03/20/24		3,142
USD	284,815		EUR	260,000	Morgan Stanley & Co. International PLC		03/20/24		3,275
USD	591,708		EUR	539,000	Morgan Stanley & Co. International PLC		03/20/24		8,053
USD	754,506		EUR	680,000	Morgan Stanley & Co. International PLC		03/20/24		18,169
USD	11,977		EUR	11,000	UBS AG		03/20/24		66
USD	38,100		EUR	35,000	UBS AG		03/20/24		201
USD	54,930		EUR	50,000	UBS AG		03/20/24		788
USD	65,472		EUR	60,000	UBS AG		03/20/24		501
USD	126,386		EUR	115,000	UBS AG		03/20/24		1,859
USD	219,738		EUR	200,000	UBS AG		03/20/24		3,169
USD	1,098,412		EUR	1,001,000	UBS AG		03/20/24		14,482
USD	38,131		GBP	30,000	Barclays Bank PLC		03/20/24		98
USD	76,837		GBP	60,000	Barclays Bank PLC		03/20/24		771
USD	126,887		GBP	100,000	Barclays Bank PLC		03/20/24		110
USD	101,868		GBP	80,000	Citibank N.A.		03/20/24		447
USD	43,092		HUF	15,000,000	Barclays Bank PLC		03/20/24		1,052
USD	48,378		HUF	17,000,000	Barclays Bank PLC		03/20/24		733
USD	209,899		HUF	73,000,000	Barclays Bank PLC		03/20/24		5,305
USD	45,785		HUF	16,000,000	BNP Paribas SA		03/20/24		943
USD	53,695		HUF	19,000,000	BNP Paribas SA		03/20/24		444
USD	88,055		HUF	31,000,000	Goldman Sachs International		03/20/24		1,173
USD	136,192		HUF	48,000,000	Goldman Sachs International		03/20/24		1,664
USD	17,032		HUF	6,000,000	Morgan Stanley & Co. International PLC		03/20/24		216
USD	34,386		HUF	12,000,000	Morgan Stanley & Co. International PLC		03/20/24		754
USD	48,883		HUF	17,000,000	UBS AG		03/20/24		1,238
USD	57,444		HUF	20,000,000	UBS AG		03/20/24		1,391
USD	128,920		IDR	2,000,000,000	Bank of America N.A.		03/20/24		2,222
USD	94,100		IDR	1,450,000,000	Barclays Bank PLC		03/20/24		2,243
USD	42,662		IDR	660,000,000	BNP Paribas SA		03/20/24		852
USD	37,954		IDR	590,000,000	Goldman Sachs International		03/20/24		578
USD	110,032		IDR	1,700,000,000	Morgan Stanley & Co. International PLC		03/20/24		2,339
USD	111,604		IDR	1,760,000,000	Morgan Stanley & Co. International PLC		03/20/24		110
USD	174,875		IDR	2,720,000,000	UBS AG		03/20/24		2,565
USD	236,155		IDR	3,680,000,000	UBS AG		03/20/24		3,030
USD	342,868		IDR	5,370,000,000	UBS AG		03/20/24		2,683
USD	103,298		KRW	135,000,000	Bank of America N.A.		03/20/24		1,874
USD	73,354		KRW	95,000,000	Barclays Bank PLC		03/20/24		1,982
USD	38,074		KRW	50,000,000	Citibank N.A.		03/20/24		510
USD	168,578		KRW	220,000,000	Citibank N.A.		03/20/24		3,296
USD	39,036		KRW	50,000,000	Goldman Sachs International		03/20/24		1,472
USD	100,222		KRW	130,000,000	Goldman Sachs International		03/20/24		2,555
USD	91,103		KRW	120,000,000	Morgan Stanley & Co. International PLC		03/20/24		949
USD	133,264		KRW	175,000,000	UBS AG		03/20/24		1,790
USD	17,586		MXN	300,000	Barclays Bank PLC		03/20/24		291
USD	86,752		MXN	1,500,000	Goldman Sachs International		03/20/24		279
USD	150,797		MXN	2,600,000	Goldman Sachs International		03/20/24		911
USD	40,887		MXN	700,000	Morgan Stanley & Co. International PLC		03/20/24		533
USD	57,777		MXN	1,000,000	Morgan Stanley & Co. International PLC		03/20/24		129
USD	63,844		MXN	1,100,000	Morgan Stanley & Co. International PLC		03/20/24		431
USD	81,262		MXN	1,400,000	Morgan Stanley & Co. International PLC		03/20/24		554
USD	133,893		MXN	2,300,000	Morgan Stanley & Co. International PLC		03/20/24		1,301
USD	57,520		NOK	600,000	Morgan Stanley & Co. International PLC		03/20/24		407
USD	114,757		NOK	1,200,000	Morgan Stanley & Co. International PLC		03/20/24		531
USD	51,226		NZD	82,264	Barclays Bank PLC		03/20/24		939

SCHEDULE OF INVESTMENTS 30

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	56,421		NZD	90,000	Barclays Bank PLC		03/20/24	$	1,405
USD	91,845		NZD	150,000	Barclays Bank PLC		03/20/24		152
USD	24,786		NZD	40,000	Citibank N.A.		03/20/24		335
USD	43,520		NZD	70,000	Goldman Sachs International		03/20/24		730
USD	97,900		NZD	160,000	Goldman Sachs International		03/20/24		94
USD	99,469		NZD	160,000	Goldman Sachs International		03/20/24		1,663
USD	110,061		NZD	180,000	Goldman Sachs International		03/20/24		29
USD	129,334		NZD	207,736	Goldman Sachs International		03/20/24		2,347
USD	147,106		NZD	240,000	Morgan Stanley & Co. International PLC		03/20/24		397
USD	317,904		NZD	520,000	Morgan Stanley & Co. International PLC		03/20/24		35
USD	46,488		PHP	2,600,000	Bank of America N.A.		03/20/24		269
USD	133,115		PHP	7,400,000	Bank of America N.A.		03/20/24		1,569
USD	212,409		PHP	11,900,000	Bank of America N.A.		03/20/24		868
USD	558,599		PHP	31,100,000	Bank of America N.A.		03/20/24		5,749
USD	39,535		PHP	2,200,000	Barclays Bank PLC		03/20/24		427
USD	42,416		PHP	2,383,483	BNP Paribas SA		03/20/24		46
USD	84,109		PHP	4,700,000	BNP Paribas SA		03/20/24		559
USD	2,073		PHP	116,517	Citibank N.A.		03/20/24		1
USD	54,103		PHP	3,000,000	Goldman Sachs International		03/20/24		773
USD	37,999		PLN	150,000	Goldman Sachs International		03/20/24		559
USD	75,433		PLN	300,000	Morgan Stanley & Co. International PLC		03/20/24		553
USD	107,733		SEK	1,100,000	BNP Paribas SA		03/20/24		1,833
USD	117,414		SEK	1,200,000	BNP Paribas SA		03/20/24		1,886
USD	216,215		SEK	2,200,000	BNP Paribas SA		03/20/24		4,414
USD	166,021		SEK	1,700,000	Citibank N.A.		03/20/24		2,356
USD	175,611		SEK	1,800,000	Morgan Stanley & Co. International PLC		03/20/24		2,319
USD	131,295		SEK	1,300,000	UBS AG		03/20/24		6,140
USD	173,433		SGD	230,000	Barclays Bank PLC		03/20/24		1,625
USD	174,038		SGD	230,000	Barclays Bank PLC		03/20/24		2,230
USD	269,048		SGD	360,000	Barclays Bank PLC		03/20/24		130
USD	598,336		SGD	800,000	Barclays Bank PLC		03/20/24		741
USD	74,721		SGD	100,000	Goldman Sachs International		03/20/24		22
USD	75,362		SGD	100,000	Goldman Sachs International		03/20/24		662
USD	98,114		SGD	130,000	Goldman Sachs International		03/20/24		1,004
USD	44,933		SGD	60,000	Morgan Stanley & Co. International PLC		03/20/24		114
USD	45,213		SGD	60,000	Morgan Stanley & Co. International PLC		03/20/24		393
USD	82,856		SGD	110,000	Morgan Stanley & Co. International PLC		03/20/24		687
USD	89,719		SGD	120,000	Morgan Stanley & Co. International PLC		03/20/24		80
USD	89,776		SGD	120,000	Morgan Stanley & Co. International PLC		03/20/24		137
USD	104,728		SGD	140,000	Morgan Stanley & Co. International PLC		03/20/24		149
USD	25,644		THB	900,000	Barclays Bank PLC		03/20/24		183
USD	40,118		THB	1,400,000	Barclays Bank PLC		03/20/24		512
USD	46,003		THB	1,600,000	Goldman Sachs International		03/20/24		739
USD	85,084		THB	2,900,000	Goldman Sachs International		03/20/24		3,042
USD	127,500		THB	4,500,000	UBS AG		03/20/24		194
USD	67,822		TWD	2,100,000	Bank of America N.A.		03/20/24		311
USD	98,857		TWD	3,000,000	Bank of America N.A.		03/20/24		2,413
USD	164,084		TWD	5,100,000	Morgan Stanley & Co. International PLC		03/20/24		130
USD	74,506		ZAR	1,400,000	Goldman Sachs International		03/20/24		23
USD	26,831		ZAR	500,000	Morgan Stanley & Co. International PLC		03/20/24		230
USD	37,376		ZAR	700,000	Morgan Stanley & Co. International PLC		03/20/24		134
ZAR	15,200,000		USD	788,791	Morgan Stanley & Co. International PLC		03/20/24		19,878
JPY	8,000,000		USD	54,580	Bank of America N.A.		03/21/24		188
JPY	7,000,000		USD	47,835	Barclays Bank PLC		03/21/24		87
JPY	24,000,000		USD	163,830	Barclays Bank PLC		03/21/24		473
JPY	27,000,000		USD	184,628	Barclays Bank PLC		03/21/24		213
JPY	15,000,000		USD	102,530	BNP Paribas SA		03/21/24		159
JPY	23,000,000		USD	156,941	BNP Paribas SA		03/21/24		516
JPY	21,000,000		USD	143,305	Citibank N.A.		03/21/24		460
JPY	15,000,000		USD	102,185	Goldman Sachs International		03/21/24		505
JPY	18,000,000		USD	122,831	Goldman Sachs International		03/21/24		396
JPY	25,000,000		USD	170,343	Morgan Stanley & Co. International PLC		03/21/24		806

31

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	56,865		JPY	8,000,000	Morgan Stanley & Co. International PLC		03/21/24	$	2,098
USD	126,581		JPY	18,000,000	Morgan Stanley & Co. International PLC		03/21/24		3,354
USD	222,527		JPY	32,000,000	UBS AG		03/21/24		3,456
USD	65,709		BRL	326,971	Goldman Sachs International		04/02/24		100
USD	154,340		IDR	2,405,536,228	Bank of America N.A.		04/19/24		2,054
USD	109,018		EUR	100,000	UBS AG		04/22/24		579
COP	514,043,000		USD	122,654	BNP Paribas SA		08/15/24		4,802
COP	132,017,250		USD	31,724	BNP Paribas SA		10/23/24		695
COP	396,051,750		USD	95,220	BNP Paribas SA		10/23/24		2,037
USD	66,000		CNH	462,462	Morgan Stanley & Co. International PLC		01/27/25		212
									431,884
BRL	64,082		USD	13,000	BNP Paribas SA		02/02/24		(66	)
BRL	68,820		USD	13,893	BNP Paribas SA		02/02/24		(3	)
BRL	69,241		USD	14,000	BNP Paribas SA		02/02/24		(24	)
BRL	63,824		USD	12,885	Citibank N.A.		02/02/24		(2	)
BRL	63,824		USD	12,885	Citibank N.A.		02/02/24		(2	)
BRL	64,682		USD	13,058	Citibank N.A.		02/02/24		(2	)
BRL	98,490		USD	20,000	Citibank N.A.		02/02/24		(121	)
BRL	63,850		USD	13,000	Morgan Stanley & Co. International PLC		02/02/24		(113	)
BRL	161,461		USD	33,000	Morgan Stanley & Co. International PLC		02/02/24		(411	)
BRL	161,461		USD	33,000	Morgan Stanley & Co. International PLC		02/02/24		(411	)
BRL	358,539		USD	72,381	Morgan Stanley & Co. International PLC		02/02/24		(13	)
USD	13,000		BRL	64,681	Citibank N.A.		02/02/24		(55	)
USD	131,405		COP	514,043,000	Morgan Stanley & Co. International PLC		02/05/24		(527	)
USD	106,739		ZAR	2,022,357	UBS AG		02/05/24		(1,251	)
AUD	41,000		USD	27,066	UBS AG		02/22/24		(150	)
AUD	50,000		USD	33,337	UBS AG		02/22/24		(513	)
CAD	9,000		JPY	983,829	UBS AG		02/22/24		(9	)
CAD	36,268		USD	27,000	Morgan Stanley & Co. International PLC		02/22/24		(16	)
CAD	48,357		USD	36,000	Morgan Stanley & Co. International PLC		02/22/24		(22	)
CLP	11,977,550		USD	13,000	Citibank N.A.		02/22/24		(140	)
CLP	22,830,611		USD	25,000	Goldman Sachs International		02/22/24		(488	)
CLP	11,845,860		USD	13,000	Morgan Stanley & Co. International PLC		02/22/24		(282	)
EUR	49,000		GBP	42,258	BNP Paribas SA		02/22/24		(564	)
EUR	31,000		JPY	4,952,144	UBS AG		02/22/24		(222	)
EUR	12,000		MXN	224,715	UBS AG		02/22/24		(34	)
EUR	12,000		MXN	224,654	UBS AG		02/22/24		(30	)
EUR	24,000		PLN	104,640	Morgan Stanley & Co. International PLC		02/22/24		(169	)
EUR	24,000		PLN	104,640	Morgan Stanley & Co. International PLC		02/22/24		(169	)
EUR	19,000		USD	20,828	UBS AG		02/22/24		(278	)
GBP	12,378		USD	15,734	UBS AG		02/22/24		(45	)
GBP	12,378		USD	15,733	UBS AG		02/22/24		(44	)
HUF	4,582,014		EUR	12,000	Morgan Stanley & Co. International PLC		02/22/24		(104	)
HUF	4,584,055		EUR	12,000	Morgan Stanley & Co. International PLC		02/22/24		(98	)
HUF	4,898,131		USD	14,000	Bank of America N.A.		02/22/24		(237	)
HUF	1,742,669		USD	5,000	Barclays Bank PLC		02/22/24		(103	)
HUF	6,970,674		USD	20,000	Barclays Bank PLC		02/22/24		(413	)
HUF	4,589,179		USD	13,000	Goldman Sachs International		02/22/24		(105	)
IDR	545,055,000		USD	35,000	Citibank N.A.		02/22/24		(451	)
IDR	545,055,000		USD	35,000	Citibank N.A.		02/22/24		(451	)
JPY	3,906,198		USD	27,000	Barclays Bank PLC		02/22/24		(377	)
JPY	3,193,220		USD	22,000	UBS AG		02/22/24		(236	)
JPY	7,112,173		USD	49,000	UBS AG		02/22/24		(526	)
KRW	15,786,120		USD	12,000	Barclays Bank PLC		02/22/24		(141	)
KRW	34,203,260		USD	26,000	Barclays Bank PLC		02/22/24		(306	)
MXN	223,854		USD	13,000	Barclays Bank PLC		02/22/24		(37	)
MXN	223,035		USD	13,000	BNP Paribas SA		02/22/24		(85	)
MXN	344,021		USD	20,000	Citibank N.A.		02/22/24		(79	)
MXN	324,672		USD	19,000	Morgan Stanley & Co. International PLC		02/22/24		(199	)
MXN	1,025,281		USD	60,000	Morgan Stanley & Co. International PLC		02/22/24		(628	)
MYR	120,726		USD	26,000	Barclays Bank PLC		02/22/24		(413	)

SCHEDULE OF INVESTMENTS 32

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
MYR	120,726		USD	26,000	Barclays Bank PLC		02/22/24	$	(413	)
NOK	351,402		EUR	31,000	BNP Paribas SA		02/22/24		(101	)
PLN	202,964		USD	51,000	Morgan Stanley & Co. International PLC		02/22/24		(323	)
PLN	202,964		USD	51,000	Morgan Stanley & Co. International PLC		02/22/24		(323	)
THB	1,334,845		USD	38,000	Barclays Bank PLC		02/22/24		(317	)
THB	1,334,845		USD	38,000	Barclays Bank PLC		02/22/24		(317	)
USD	28,000		CAD	37,661	Barclays Bank PLC		02/22/24		(19	)
USD	35,000		CAD	47,199	Morgan Stanley & Co. International PLC		02/22/24		(116	)
USD	7,000		CLP	6,551,932	BNP Paribas SA		02/22/24		(35	)
USD	20,000		CLP	18,695,000	Morgan Stanley & Co. International PLC		02/22/24		(72	)
USD	1,000		COP	3,962,800	Barclays Bank PLC		02/22/24		(14	)
USD	8,000		COP	31,702,400	Barclays Bank PLC		02/22/24		(111	)
USD	35,000		COP	138,698,000	Barclays Bank PLC		02/22/24		(487	)
USD	14,000		COP	56,210,000	Citibank N.A.		02/22/24		(382	)
USD	20,000		COP	79,010,000	Citibank N.A.		02/22/24		(215	)
USD	34,000		COP	135,221,740	Goldman Sachs International		02/22/24		(598	)
USD	20,000		JPY	2,937,899	Barclays Bank PLC		02/22/24		(24	)
USD	27,000		JPY	3,965,017	BNP Paribas SA		02/22/24		(24	)
USD	20,000		KRW	26,852,000	Citibank N.A.		02/22/24		(172	)
USD	41,000		MXN	710,181	Goldman Sachs International		02/22/24		(125	)
USD	8,000		ZAR	150,114	Barclays Bank PLC		02/22/24		(5	)
USD	13,000		ZAR	250,148	UBS AG		02/22/24		(339	)
USD	130,536		COP	514,043,000	Morgan Stanley & Co. International PLC		02/26/24		(892	)
BRL	99,000		USD	20,000	Citibank N.A.		03/04/24		(68	)
BRL	359,467		USD	73,000	Morgan Stanley & Co. International PLC		03/04/24		(626	)
USD	96,214		CZK	2,217,448	Barclays Bank PLC		03/04/24		(215	)
AUD	250,000		USD	165,682	Bank of America N.A.		03/20/24		(1,419	)
AUD	310,000		USD	212,520	Bank of America N.A.		03/20/24		(8,834	)
AUD	80,000		USD	53,374	Barclays Bank PLC		03/20/24		(810	)
AUD	300,000		USD	197,214	Barclays Bank PLC		03/20/24		(98	)
AUD	90,000		USD	60,647	BNP Paribas SA		03/20/24		(1,512	)
AUD	140,000		USD	92,476	Goldman Sachs International		03/20/24		(488	)
AUD	230,000		USD	154,744	Goldman Sachs International		03/20/24		(3,622	)
AUD	250,000		USD	164,495	Goldman Sachs International		03/20/24		(232	)
AUD	380,000		USD	259,166	Goldman Sachs International		03/20/24		(9,486	)
AUD	60,000		USD	40,242	Morgan Stanley & Co. International PLC		03/20/24		(819	)
AUD	120,000		USD	81,369	Morgan Stanley & Co. International PLC		03/20/24		(2,522	)
AUD	120,000		USD	80,609	Morgan Stanley & Co. International PLC		03/20/24		(1,763	)
AUD	130,000		USD	87,764	Morgan Stanley & Co. International PLC		03/20/24		(2,347	)
BRL	130,000		USD	26,263	Citibank N.A.		03/20/24		(138	)
BRL	230,000		USD	46,515	Citibank N.A.		03/20/24		(294	)
BRL	220,000		USD	44,463	Goldman Sachs International		03/20/24		(252	)
BRL	220,000		USD	44,451	Goldman Sachs International		03/20/24		(239	)
BRL	250,000		USD	51,488	Goldman Sachs International		03/20/24		(1,248	)
BRL	330,000		USD	67,333	Goldman Sachs International		03/20/24		(1,016	)
BRL	330,000		USD	67,128	Goldman Sachs International		03/20/24		(811	)
BRL	350,000		USD	70,343	Goldman Sachs International		03/20/24		(7	)
BRL	360,000		USD	73,819	Goldman Sachs International		03/20/24		(1,473	)
BRL	380,000		USD	77,344	Goldman Sachs International		03/20/24		(979	)
BRL	260,000		USD	52,583	Morgan Stanley & Co. International PLC		03/20/24		(333	)
BRL	5,230,000		USD	1,052,102	Morgan Stanley & Co. International PLC		03/20/24		(1,078	)
BRL	410,000		USD	82,586	UBS AG		03/20/24		(192	)
CAD	300,000		USD	224,520	Bank of America N.A.		03/20/24		(1,242	)
CAD	220,000		USD	163,818	BNP Paribas SA		03/20/24		(81	)
CAD	70,000		USD	52,360	Citibank N.A.		03/20/24		(262	)
CAD	180,000		USD	134,130	Goldman Sachs International		03/20/24		(163	)
CAD	260,000		USD	193,687	Goldman Sachs International		03/20/24		(179	)
CAD	170,000		USD	126,849	Morgan Stanley & Co. International PLC		03/20/24		(324	)
CAD	180,000		USD	135,221	Morgan Stanley & Co. International PLC		03/20/24		(1,254	)
CAD	200,000		USD	151,645	Morgan Stanley & Co. International PLC		03/20/24		(2,793	)
CAD	270,000		USD	202,253	Morgan Stanley & Co. International PLC		03/20/24		(1,302	)
CHF	120,000		USD	139,869	Citibank N.A.		03/20/24		(103	)

33

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
CHF	100,000		USD	118,227	Morgan Stanley & Co. International PLC		03/20/24	$	(1,756	)
CLP	38,000,000		USD	41,508	Bank of America N.A.		03/20/24		(785	)
CLP	90,000,000		USD	101,351	Citibank N.A.		03/20/24		(4,901	)
CLP	37,000,000		USD	40,039	Goldman Sachs International		03/20/24		(387	)
CLP	39,000,000		USD	42,723	Morgan Stanley & Co. International PLC		03/20/24		(928	)
CLP	73,000,000		USD	81,645	Morgan Stanley & Co. International PLC		03/20/24		(3,412	)
CLP	74,000,000		USD	84,212	Morgan Stanley & Co. International PLC		03/20/24		(4,909	)
CLP	99,440,000		USD	113,058	UBS AG		03/20/24		(6,490	)
COP	190,000,000		USD	48,969	Morgan Stanley & Co. International PLC		03/20/24		(591	)
CZK	2,000,000		USD	87,868	Bank of America N.A.		03/20/24		(916	)
CZK	1,700,000		USD	74,397	Barclays Bank PLC		03/20/24		(488	)
CZK	1,800,000		USD	78,690	Barclays Bank PLC		03/20/24		(433	)
CZK	2,300,000		USD	102,082	BNP Paribas SA		03/20/24		(2,087	)
CZK	3,100,000		USD	135,796	BNP Paribas SA		03/20/24		(1,021	)
CZK	1,800,000		USD	79,488	Goldman Sachs International		03/20/24		(1,231	)
CZK	1,500,000		USD	66,988	Morgan Stanley & Co. International PLC		03/20/24		(1,774	)
CZK	2,200,000		USD	98,111	Morgan Stanley & Co. International PLC		03/20/24		(2,464	)
EUR	30,000		USD	33,030	Barclays Bank PLC		03/20/24		(545	)
EUR	160,000		USD	173,508	Barclays Bank PLC		03/20/24		(252	)
EUR	200,000		USD	218,198	Barclays Bank PLC		03/20/24		(1,629	)
EUR	70,000		USD	76,254	BNP Paribas SA		03/20/24		(455	)
EUR	80,000		USD	87,313	BNP Paribas SA		03/20/24		(685	)
EUR	200,000		USD	217,294	BNP Paribas SA		03/20/24		(725	)
EUR	320,000		USD	348,947	BNP Paribas SA		03/20/24		(2,436	)
EUR	90,000		USD	98,074	Goldman Sachs International		03/20/24		(617	)
EUR	200,000		USD	217,159	Goldman Sachs International		03/20/24		(590	)
EUR	60,000		USD	65,681	Morgan Stanley & Co. International PLC		03/20/24		(710	)
EUR	70,000		USD	76,576	Morgan Stanley & Co. International PLC		03/20/24		(777	)
EUR	160,000		USD	175,280	Morgan Stanley & Co. International PLC		03/20/24		(2,025	)
EUR	170,000		USD	184,601	Morgan Stanley & Co. International PLC		03/20/24		(517	)
EUR	250,000		USD	272,582	Morgan Stanley & Co. International PLC		03/20/24		(1,870	)
EUR	370,000		USD	400,664	Morgan Stanley & Co. International PLC		03/20/24		(10	)
GBP	160,000		USD	203,450	Barclays Bank PLC		03/20/24		(607	)
GBP	170,000		USD	215,859	Barclays Bank PLC		03/20/24		(339	)
GBP	40,000		USD	50,745	BNP Paribas SA		03/20/24		(34	)
GBP	60,000		USD	76,503	BNP Paribas SA		03/20/24		(437	)
GBP	120,000		USD	153,095	BNP Paribas SA		03/20/24		(963	)
GBP	120,000		USD	152,869	BNP Paribas SA		03/20/24		(737	)
GBP	160,000		USD	203,861	Citibank N.A.		03/20/24		(1,018	)
GBP	40,000		USD	51,080	Morgan Stanley & Co. International PLC		03/20/24		(369	)
GBP	60,000		USD	76,404	Morgan Stanley & Co. International PLC		03/20/24		(338	)
GBP	60,000		USD	76,331	Morgan Stanley & Co. International PLC		03/20/24		(265	)
GBP	70,000		USD	89,268	Morgan Stanley & Co. International PLC		03/20/24		(524	)
GBP	70,000		USD	88,920	Morgan Stanley & Co. International PLC		03/20/24		(176	)
GBP	110,000		USD	139,622	Morgan Stanley & Co. International PLC		03/20/24		(168	)
GBP	140,000		USD	177,523	Morgan Stanley & Co. International PLC		03/20/24		(35	)
GBP	150,000		USD	190,966	Morgan Stanley & Co. International PLC		03/20/24		(801	)
GBP	160,000		USD	203,957	Morgan Stanley & Co. International PLC		03/20/24		(1,114	)
GBP	220,000		USD	279,748	Morgan Stanley & Co. International PLC		03/20/24		(839	)
HUF	27,000,000		USD	76,231	Goldman Sachs International		03/20/24		(559	)
HUF	27,000,000		USD	75,750	Morgan Stanley & Co. International PLC		03/20/24		(78	)
HUF	53,000,000		USD	148,853	Morgan Stanley & Co. International PLC		03/20/24		(312	)
IDR	520,000,000		USD	33,348	Bank of America N.A.		03/20/24		(406	)
IDR	640,000,000		USD	40,705	Barclays Bank PLC		03/20/24		(161	)
IDR	1,600,000,000		USD	102,361	Barclays Bank PLC		03/20/24		(1,003	)
IDR	1,950,000,000		USD	124,590	Barclays Bank PLC		03/20/24		(1,059	)
IDR	2,250,000,000		USD	144,046	Barclays Bank PLC		03/20/24		(1,510	)
IDR	2,490,000,000		USD	160,380	Barclays Bank PLC		03/20/24		(2,641	)
IDR	610,000,000		USD	39,018	BNP Paribas SA		03/20/24		(375	)
IDR	780,000,000		USD	50,384	BNP Paribas SA		03/20/24		(972	)
IDR	930,000,000		USD	59,980	BNP Paribas SA		03/20/24		(1,066	)
IDR	1,070,000,000		USD	68,237	BNP Paribas SA		03/20/24		(454	)

SCHEDULE OF INVESTMENTS 34

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
IDR	1,410,000,000		USD	90,866	BNP Paribas SA		03/20/24	$	(1,543	)
IDR	480,000,000		USD	30,622	Goldman Sachs International		03/20/24		(214	)
IDR	1,850,000,000		USD	118,211	UBS AG		03/20/24		(1,015	)
INR	5,700,000		USD	68,582	Bank of America N.A.		03/20/24		(105	)
INR	14,100,000		USD	169,650	Bank of America N.A.		03/20/24		(259	)
INR	7,100,000		USD	85,298	Goldman Sachs International		03/20/24		(2	)
KRW	85,000,000		USD	65,741	Bank of America N.A.		03/20/24		(1,882	)
KRW	105,000,000		USD	80,295	Bank of America N.A.		03/20/24		(1,411	)
KRW	105,000,000		USD	79,836	Bank of America N.A.		03/20/24		(952	)
KRW	155,000,000		USD	120,280	Citibank N.A.		03/20/24		(3,831	)
KRW	1,595,000,000		USD	1,216,165	Citibank N.A.		03/20/24		(17,868	)
KRW	55,000,000		USD	42,194	Goldman Sachs International		03/20/24		(874	)
KRW	95,000,000		USD	72,775	Goldman Sachs International		03/20/24		(1,403	)
KRW	55,000,000		USD	41,873	Morgan Stanley & Co. International PLC		03/20/24		(553	)
KRW	90,000,000		USD	69,596	Morgan Stanley & Co. International PLC		03/20/24		(1,981	)
KRW	100,000,000		USD	76,125	Morgan Stanley & Co. International PLC		03/20/24		(996	)
MXN	1,400,000		USD	80,949	Barclays Bank PLC		03/20/24		(241	)
MXN	3,100,000		USD	179,801	Barclays Bank PLC		03/20/24		(1,090	)
MXN	1,400,000		USD	80,967	Morgan Stanley & Co. International PLC		03/20/24		(259	)
MXN	2,000,000		USD	115,474	Morgan Stanley & Co. International PLC		03/20/24		(177	)
NOK	1,300,000		USD	125,426	BNP Paribas SA		03/20/24		(1,681	)
NOK	700,000		USD	66,985	Citibank N.A.		03/20/24		(353	)
NOK	400,000		USD	39,634	Goldman Sachs International		03/20/24		(1,559	)
NOK	500,000		USD	48,022	Goldman Sachs International		03/20/24		(427	)
NOK	800,000		USD	78,464	Goldman Sachs International		03/20/24		(2,313	)
NOK	900,000		USD	87,027	Goldman Sachs International		03/20/24		(1,358	)
NOK	900,000		USD	86,677	Goldman Sachs International		03/20/24		(1,008	)
NOK	1,700,000		USD	165,078	Goldman Sachs International		03/20/24		(3,257	)
NOK	2,700,000		USD	259,097	Goldman Sachs International		03/20/24		(2,089	)
NOK	400,000		USD	38,765	Morgan Stanley & Co. International PLC		03/20/24		(690	)
NOK	500,000		USD	48,504	Morgan Stanley & Co. International PLC		03/20/24		(910	)
NOK	700,000		USD	68,047	Morgan Stanley & Co. International PLC		03/20/24		(1,415	)
NOK	800,000		USD	76,383	Morgan Stanley & Co. International PLC		03/20/24		(232	)
NOK	900,000		USD	87,195	Morgan Stanley & Co. International PLC		03/20/24		(1,526	)
NOK	1,300,000		USD	126,882	Morgan Stanley & Co. International PLC		03/20/24		(3,137	)
NOK	1,300,000		USD	126,485	Morgan Stanley & Co. International PLC		03/20/24		(2,740	)
NOK	1,800,000		USD	175,560	Morgan Stanley & Co. International PLC		03/20/24		(4,221	)
NOK	1,900,000		USD	184,580	Morgan Stanley & Co. International PLC		03/20/24		(3,722	)
NOK	2,800,000		USD	272,956	Morgan Stanley & Co. International PLC		03/20/24		(6,429	)
NZD	270,000		USD	170,926	Barclays Bank PLC		03/20/24		(5,879	)
NZD	130,000		USD	81,099	Citibank N.A.		03/20/24		(1,632	)
NZD	170,000		USD	104,163	Goldman Sachs International		03/20/24		(244	)
NZD	80,000		USD	50,059	Morgan Stanley & Co. International PLC		03/20/24		(1,156	)
NZD	90,000		USD	55,908	Morgan Stanley & Co. International PLC		03/20/24		(892	)
NZD	100,000		USD	62,939	Morgan Stanley & Co. International PLC		03/20/24		(1,810	)
NZD	120,000		USD	75,530	Morgan Stanley & Co. International PLC		03/20/24		(2,176	)
NZD	140,000		USD	88,299	Morgan Stanley & Co. International PLC		03/20/24		(2,719	)
NZD	160,000		USD	101,415	Morgan Stanley & Co. International PLC		03/20/24		(3,609	)
NZD	180,000		USD	112,836	Morgan Stanley & Co. International PLC		03/20/24		(2,804	)
NZD	200,000		USD	125,102	Morgan Stanley & Co. International PLC		03/20/24		(2,844	)
NZD	240,000		USD	146,879	Morgan Stanley & Co. International PLC		03/20/24		(170	)
PHP	4,200,000		USD	75,365	Bank of America N.A.		03/20/24		(703	)
PHP	3,300,000		USD	59,642	Barclays Bank PLC		03/20/24		(980	)
PHP	500,000		USD	8,978	BNP Paribas SA		03/20/24		(90	)
PHP	2,400,000		USD	43,034	Morgan Stanley & Co. International PLC		03/20/24		(370	)
PHP	4,500,000		USD	81,198	Morgan Stanley & Co. International PLC		03/20/24		(1,204	)
PLN	50,000		USD	12,807	Barclays Bank PLC		03/20/24		(327	)
PLN	200,000		USD	50,459	Barclays Bank PLC		03/20/24		(539	)
PLN	600,000		USD	152,007	Barclays Bank PLC		03/20/24		(2,248	)
PLN	550,000		USD	137,606	BNP Paribas SA		03/20/24		(327	)
PLN	200,000		USD	50,242	Goldman Sachs International		03/20/24		(322	)
PLN	550,000		USD	138,424	Goldman Sachs International		03/20/24		(1,145	)

35

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
PLN	500,000		USD	126,137	Morgan Stanley & Co. International PLC		03/20/24	$	(1,338	)
SEK	1,900,000		USD	182,949	Barclays Bank PLC		03/20/24		(29	)
SEK	1,500,000		USD	150,469	BNP Paribas SA		03/20/24		(6,059	)
SEK	3,200,000		USD	313,792	BNP Paribas SA		03/20/24		(5,718	)
SEK	600,000		USD	58,328	Goldman Sachs International		03/20/24		(564	)
SEK	400,000		USD	38,546	Morgan Stanley & Co. International PLC		03/20/24		(37	)
SEK	1,400,000		USD	139,028	Morgan Stanley & Co. International PLC		03/20/24		(4,246	)
SGD	20,000		USD	15,251	Barclays Bank PLC		03/20/24		(311	)
SGD	60,000		USD	44,860	Barclays Bank PLC		03/20/24		(41	)
SGD	150,000		USD	113,899	Barclays Bank PLC		03/20/24		(1,850	)
SGD	150,000		USD	113,060	Barclays Bank PLC		03/20/24		(1,011	)
SGD	180,000		USD	134,641	Barclays Bank PLC		03/20/24		(183	)
SGD	190,000		USD	143,229	Barclays Bank PLC		03/20/24		(1,301	)
SGD	280,000		USD	211,180	Barclays Bank PLC		03/20/24		(2,022	)
SGD	2,870,000		USD	2,144,686	Barclays Bank PLC		03/20/24		(815	)
SGD	280,000		USD	211,547	BNP Paribas SA		03/20/24		(2,389	)
SGD	130,000		USD	97,195	Goldman Sachs International		03/20/24		(86	)
SGD	50,000		USD	37,915	Morgan Stanley & Co. International PLC		03/20/24		(566	)
SGD	100,000		USD	75,182	Morgan Stanley & Co. International PLC		03/20/24		(483	)
THB	1,500,000		USD	43,367	Barclays Bank PLC		03/20/24		(932	)
THB	4,500,000		USD	131,589	Barclays Bank PLC		03/20/24		(4,283	)
THB	3,700,000		USD	107,144	Citibank N.A.		03/20/24		(2,470	)
THB	3,700,000		USD	104,896	Goldman Sachs International		03/20/24		(222	)
TWD	10,600,000		USD	344,417	Bank of America N.A.		03/20/24		(3,650	)
TWD	1,200,000		USD	38,990	Barclays Bank PLC		03/20/24		(413	)
TWD	1,300,000		USD	42,392	Barclays Bank PLC		03/20/24		(600	)
TWD	3,100,000		USD	100,191	BNP Paribas SA		03/20/24		(532	)
TWD	3,100,000		USD	100,110	Goldman Sachs International		03/20/24		(452	)
TWD	3,400,000		USD	109,327	Morgan Stanley & Co. International PLC		03/20/24		(24	)
USD	39,745		AUD	60,503	Barclays Bank PLC		03/20/24		(9	)
USD	137,606		AUD	209,497	Goldman Sachs International		03/20/24		(44	)
USD	170,615		AUD	260,000	Goldman Sachs International		03/20/24		(219	)
USD	52,200		BRL	260,000	Citibank N.A.		03/20/24		(50	)
USD	61,985		BRL	310,000	Citibank N.A.		03/20/24		(313	)
USD	78,268		BRL	390,000	Goldman Sachs International		03/20/24		(107	)
USD	22,212		CAD	30,000	Barclays Bank PLC		03/20/24		(116	)
USD	22,288		CAD	30,000	Barclays Bank PLC		03/20/24		(40	)
USD	2,106,801		CAD	2,860,000	Barclays Bank PLC		03/20/24		(21,787	)
USD	170,790		CAD	230,000	BNP Paribas SA		03/20/24		(391	)
USD	294,752		CAD	400,000	Citibank N.A.		03/20/24		(2,953	)
USD	147,389		CAD	200,000	Goldman Sachs International		03/20/24		(1,463	)
USD	170,708		CAD	230,000	Goldman Sachs International		03/20/24		(472	)
USD	191,710		CAD	260,000	Goldman Sachs International		03/20/24		(1,798	)
USD	66,761		CAD	90,000	Morgan Stanley & Co. International PLC		03/20/24		(223	)
USD	197,088		CHF	170,000	Barclays Bank PLC		03/20/24		(913	)
USD	23,272		CHF	20,000	BNP Paribas SA		03/20/24		(22	)
USD	127,904		CHF	110,000	BNP Paribas SA		03/20/24		(214	)
USD	207,336		CHF	180,000	BNP Paribas SA		03/20/24		(2,312	)
USD	81,518		CHF	70,000	Goldman Sachs International		03/20/24		(12	)
USD	256,136		CHF	220,000	Goldman Sachs International		03/20/24		(101	)
USD	81,072		CHF	70,000	Morgan Stanley & Co. International PLC		03/20/24		(458	)
USD	81,313		CHF	70,000	Morgan Stanley & Co. International PLC		03/20/24		(216	)
USD	81,408		CHF	70,000	Morgan Stanley & Co. International PLC		03/20/24		(122	)
USD	104,226		CHF	90,000	Morgan Stanley & Co. International PLC		03/20/24		(598	)
USD	32,922		COP	132,017,250	BNP Paribas SA		03/20/24		(692	)
USD	42,779		COP	170,000,000	BNP Paribas SA		03/20/24		(507	)
USD	98,815		COP	396,051,750	BNP Paribas SA		03/20/24		(2,028	)
USD	19,234		COP	76,674,608	Citibank N.A.		03/20/24		(289	)
USD	32,572		COP	130,000,000	Citibank N.A.		03/20/24		(529	)
USD	37,782		COP	149,926,819	Citibank N.A.		03/20/24		(393	)
USD	40,683		COP	161,805,312	Citibank N.A.		03/20/24		(516	)
USD	100,748		COP	400,000,000	Citibank N.A.		03/20/24		(1,101	)

SCHEDULE OF INVESTMENTS 36

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	133,705		COP	545,980,946	Citibank N.A.		03/20/24	$	(5,313	)
USD	7,733		COP	30,670,841	Goldman Sachs International		03/20/24		(76	)
USD	25,503		COP	104,032,419	Goldman Sachs International		03/20/24		(986	)
USD	40,321		COP	160,000,000	Goldman Sachs International		03/20/24		(418	)
USD	133,884		COP	545,980,945	Goldman Sachs International		03/20/24		(5,134	)
USD	86,529		EUR	80,000	Morgan Stanley & Co. International PLC		03/20/24		(99	)
USD	151,575		EUR	140,000	Morgan Stanley & Co. International PLC		03/20/24		(24	)
USD	1,016,228		EUR	940,000	UBS AG		03/20/24		(1,648	)
USD	87,990		GBP	70,000	Barclays Bank PLC		03/20/24		(754	)
USD	139,283		GBP	110,000	Barclays Bank PLC		03/20/24		(171	)
USD	12,634		GBP	10,000	Goldman Sachs International		03/20/24		(44	)
USD	507,106		GBP	400,000	Morgan Stanley & Co. International PLC		03/20/24		(1	)
USD	1,946,180		GBP	1,550,000	Morgan Stanley & Co. International PLC		03/20/24		(18,860	)
USD	58,778		HUF	21,000,000	Goldman Sachs International		03/20/24		(78	)
USD	41,535		HUF	15,000,000	Morgan Stanley & Co. International PLC		03/20/24		(505	)
USD	44,695		HUF	16,000,000	Morgan Stanley & Co. International PLC		03/20/24		(147	)
USD	84,559		IDR	1,340,000,000	Bank of America N.A.		03/20/24		(329	)
USD	155,328		INR	13,000,000	Bank of America N.A.		03/20/24		(848	)
USD	128,411		INR	10,700,000	Barclays Bank PLC		03/20/24		(133	)
USD	33,472		INR	2,800,000	Citibank N.A.		03/20/24		(166	)
USD	80,085		INR	6,700,000	Citibank N.A.		03/20/24		(406	)
USD	135,138		INR	11,300,000	Citibank N.A.		03/20/24		(615	)
USD	50,203		INR	4,200,000	Goldman Sachs International		03/20/24		(254	)
USD	66,048		INR	5,500,000	Morgan Stanley & Co. International PLC		03/20/24		(27	)
USD	82,534		KRW	110,000,000	Barclays Bank PLC		03/20/24		(107	)
USD	28,658		MXN	500,000	Goldman Sachs International		03/20/24		(166	)
USD	257,238		MXN	4,500,000	Goldman Sachs International		03/20/24		(2,180	)
USD	34,017		MXN	600,000	Morgan Stanley & Co. International PLC		03/20/24		(572	)
USD	504,602		NOK	5,500,000	BNP Paribas SA		03/20/24		(18,935	)
USD	128,552		NOK	1,400,000	Goldman Sachs International		03/20/24		(4,711	)
USD	138,333		NOK	1,500,000	Goldman Sachs International		03/20/24		(4,449	)
USD	155,173		NOK	1,700,000	Goldman Sachs International		03/20/24		(6,648	)
USD	165,548		NOK	1,800,000	Goldman Sachs International		03/20/24		(5,791	)
USD	38,042		NOK	400,000	Morgan Stanley & Co. International PLC		03/20/24		(34	)
USD	46,783		NOK	500,000	Morgan Stanley & Co. International PLC		03/20/24		(811	)
USD	36,644		NZD	60,000	Barclays Bank PLC		03/20/24		(33	)
USD	250,023		NZD	410,000	Citibank N.A.		03/20/24		(605	)
USD	97,770		NZD	160,000	Goldman Sachs International		03/20/24		(35	)
USD	85,179		NZD	140,000	Morgan Stanley & Co. International PLC		03/20/24		(401	)
USD	295		PHP	16,643	Bank of America N.A.		03/20/24		(1	)
USD	40,879		PHP	2,300,000	Bank of America N.A.		03/20/24		(7	)
USD	120,388		PHP	6,800,000	Barclays Bank PLC		03/20/24		(492	)
USD	47,552		PHP	2,683,357	Citibank N.A.		03/20/24		(149	)
USD	122,573		PHP	6,900,000	Goldman Sachs International		03/20/24		(85	)
USD	99,204		PLN	400,000	Barclays Bank PLC		03/20/24		(636	)
USD	49,507		PLN	200,000	Citibank N.A.		03/20/24		(413	)
USD	111,775		PLN	450,000	Goldman Sachs International		03/20/24		(544	)
USD	248,643		PLN	1,000,000	Goldman Sachs International		03/20/24		(955	)
USD	37,217		PLN	150,000	Morgan Stanley & Co. International PLC		03/20/24		(223	)
USD	87,032		PLN	350,000	Morgan Stanley & Co. International PLC		03/20/24		(328	)
USD	173,066		PLN	700,000	Morgan Stanley & Co. International PLC		03/20/24		(1,653	)
USD	76,818		SEK	800,000	BNP Paribas SA		03/20/24		(200	)
USD	115,056		SEK	1,200,000	BNP Paribas SA		03/20/24		(472	)
USD	95,570		SEK	1,000,000	Goldman Sachs International		03/20/24		(703	)
USD	220,874		SEK	2,300,000	Morgan Stanley & Co. International PLC		03/20/24		(554	)
USD	97,098		SGD	130,000	Morgan Stanley & Co. International PLC		03/20/24		(11	)
USD	225,852		THB	8,000,000	Barclays Bank PLC		03/20/24		(470	)
USD	228,466		THB	8,100,000	Barclays Bank PLC		03/20/24		(684	)
USD	59,337		THB	2,100,000	Goldman Sachs International		03/20/24		(72	)
USD	76,470		TWD	2,400,000	Bank of America N.A.		03/20/24		(685	)
USD	118,754		TWD	3,700,000	Bank of America N.A.		03/20/24		(193	)
USD	51,394		TWD	1,600,000	BNP Paribas SA		03/20/24		(42	)

37

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Forward Foreign Currency Exchange Contracts (continued)

Currency Purchased			Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	83,026		TWD	2,600,000	Morgan Stanley & Co. International PLC		03/20/24	$	(559	)
USD	36,529		ZAR	700,000	Goldman Sachs International		03/20/24		(712	)
USD	53,110		ZAR	1,000,000	Goldman Sachs International		03/20/24		(92	)
USD	161,767		ZAR	3,100,000	Goldman Sachs International		03/20/24		(3,159	)
USD	31,896		ZAR	600,000	Morgan Stanley & Co. International PLC		03/20/24		(26	)
USD	42,119		ZAR	800,000	Morgan Stanley & Co. International PLC		03/20/24		(443	)
USD	62,869		ZAR	1,200,000	Morgan Stanley & Co. International PLC		03/20/24		(974	)
USD	84,359		ZAR	1,600,000	Morgan Stanley & Co. International PLC		03/20/24		(764	)
USD	47,784		ZAR	900,000	UBS AG		03/20/24		(97	)
ZAR	800,000		USD	42,630	Morgan Stanley & Co. International PLC		03/20/24		(68	)
JPY	7,000,000		USD	48,482	Barclays Bank PLC		03/21/24		(560	)
JPY	25,000,000		USD	172,266	Barclays Bank PLC		03/21/24		(1,117	)
JPY	13,000,000		USD	93,148	BNP Paribas SA		03/21/24		(4,151	)
JPY	12,000,000		USD	83,677	Goldman Sachs International		03/21/24		(1,525	)
JPY	4,000,000		USD	28,398	Morgan Stanley & Co. International PLC		03/21/24		(1,014	)
JPY	5,000,000		USD	35,282	Morgan Stanley & Co. International PLC		03/21/24		(1,053	)
JPY	6,000,000		USD	42,962	Morgan Stanley & Co. International PLC		03/21/24		(1,886	)
JPY	8,000,000		USD	56,136	Morgan Stanley & Co. International PLC		03/21/24		(1,369	)
JPY	10,000,000		USD	70,037	Morgan Stanley & Co. International PLC		03/21/24		(1,577	)
TRY	157,800		USD	4,049	Barclays Bank PLC		12/04/24		(206	)
TRY	317,178		USD	7,814	Barclays Bank PLC		12/04/24		(90	)
TRY	156,222		USD	4,071	Goldman Sachs International		12/04/24		(267	)
TRY	157,800		USD	4,035	Goldman Sachs International		12/04/24		(192	)
TRY	315,600		USD	8,108	Goldman Sachs International		12/04/24		(422	)
TRY	473,400		USD	12,152	Goldman Sachs International		12/04/24		(624	)
CNY	461,340		USD	66,000	Morgan Stanley & Co. International PLC		01/27/25		(162	)
									(443,732	)
								$	(11,848	)

Exchange-Traded Options Purchased

Description	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call
3-Month SOFR Future		264		03/15/24	USD	94.94	USD	62,618	$	41,250
Put
10-Year U.S. Treasury Note Future		320		02/02/24	USD	110.75	USD	35,955		5,000
2-Year U.S. Treasury Note Future		5		02/23/24	USD	102.50	USD	1,028		1,016
3-Month SOFR Future		98		05/10/24	USD	95.25	USD	23,364		28,175
3-Month SOFR Future		42		12/13/24	USD	95.81	USD	10,098		28,350
										62,541
									$	103,791

OTC Barrier Options Purchased

Description

Type of Option

Counterparty

Number of Contracts

Expiration Date

Exercise Price

Barrier Price/Range

Notional Amount (000)

Value

Call

USD Currency

One Touch

Barclays Bank PLC

—

10/23/24

CNH

7.50

CNH

7.50

USD

10

$

942

Put

EUR Currency

One Touch

Bank of America N.A.

—

02/02/24

PLN

4.28

PLN

4.28

EUR

4

14

EUR Currency

One Touch

Bank of America N.A.

—

02/02/24

PLN

4.28

PLN

4.28

EUR

4

14

EUR Currency

One Touch

Bank of America N.A.

—

03/27/24

USD

1.06

USD

1.05

EUR

6

910

USD Currency

Down-and-out

Bank of America N.A.

—

06/03/24

BRL

4.85

BRL

4.71

USD

67

113

1,051

$

1,993

SCHEDULE OF INVESTMENTS 38

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

OTC Currency Options Purchased

Description

Counterparty

Expiration Date

Exercise Price

Notional Amount (000)

Value

Call

USD Currency

Citibank N.A.

04/05/24

CNH

7.20

USD

67

$

316

USD Currency

Morgan Stanley & Co. International PLC

05/17/24

JPY

146.00

USD

118

1,917

2,233

Put

USD Currency

Goldman Sachs International

02/22/24

KRW

1,280.00

USD

34

17

EUR Currency

Bank of America N.A.

05/24/24

USD

1.07

EUR

223

2,143

2,160

$

4,393

OTC Interest Rate Swaptions Purchased

Paid by the Fund

Received by the Fund

Counterparty

Expiration Date

Exercise Rate

Notional Amount (000)

Value

Description

Rate

Frequency

Rate

Frequency

Call

5-Year Interest Rate Swap, 03/28/29

1-Day SOFR, 5.32%

Annual

4.24%

Annual

Citibank N.A.

03/26/24

4.24%

USD

1,638

$

49,539

Put

10-Year Interest Rate Swap, 03/14/34

2.83%

Annual

6-mo. EURIBOR, 3.84%

Semi-Annual

Barclays Bank PLC

03/12/24

2.83

EUR

4,058

11,192

5-Year Interest Rate Swap, 03/28/29

4.24%

Annual

1-Day SOFR, 5.32%

Annual

Citibank N.A.

03/26/24

4.23

USD

1,638

1,145

12,337

$

61,876

Exchange-Traded Options Written

Description	Number of Contracts		Expiration Date		Exercise Price			Notional Amount (000)			Value
Call
2-Year U.S. Treasury Note Future		2		02/23/24		USD	104.50		USD	411	$	(31	)
2-Year U.S. Treasury Note Future		3		02/23/24		USD	103.25		USD	617		(609	)
3-Month SOFR Future		132		03/15/24		USD	96.50		USD	31,835		(62,700	)
												(63,340	)
Put
10-Year U.S. Treasury Note Future		320		02/02/24		USD	110.00		USD	35,955		(320	)
3-Month SOFR Future		98		05/10/24		USD	95.06		USD	23,364		(11,638	)
3-Month SOFR Future		98		05/10/24		USD	94.88		USD	23,364		(4,288	)
3-Month SOFR Future		42		12/13/24		USD	96.25		USD	10,168		(25,462	)
												(41,708	)
											$	(105,048	)

OTC Currency Options Written

Description	Counterparty		Expiration Date		Exercise Price			Notional Amount (000)			Value
Call
USD Currency		Goldman Sachs International		02/22/24		KRW	1,330.00		KRW	34	$	(330	)
USD Currency		Citibank N.A.		04/05/24		CNH	7.26		CNH	101		(252	)
											$	(582	)

39

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

OTC Interest Rate Swaptions Written

	Paid by the Fund			Received by the Fund			Counterparty		Expiration Date		Exercise Rate		Notional Amount (000)			Value
Description	Rate		Frequency	Rate		Frequency
Call
5-Year Interest Rate Swap, 03/16/29		3.96%	Annual		1-Day SOFR, 5.32%	Annual		Barclays Bank PLC		03/14/24		3.96%		USD	1,638	$	(29,994	)
5-Year Interest Rate Swap, 03/16/29		3.96%	Annual		1-Day SOFR, 5.32%	Annual		Goldman Sachs International		03/14/24		3.96		USD	2,400		(43,948	)
5-Year Interest Rate Swap, 06/14/29		3.75%	Annual		1-Day SOFR, 5.32%	Annual		Citibank N.A.		06/12/24		3.75		USD	6,555		(123,293	)
5-Year Interest Rate Swap, 06/14/29		3.75%	Annual		1-Day SOFR, 5.32%	Annual		Goldman Sachs International		06/12/24		3.75		USD	6,000		(112,854	)
5-Year Interest Rate Swap, 11/16/29		3.90%	Annual		1-Day SOFR, 5.32%	Annual		Barclays Bank PLC		11/14/24		3.90		USD	3,631		(114,304	)
10-Year Interest Rate Swap, 11/19/35		3.95%	Annual		1-Day SOFR, 5.32%	Annual		Bank of America N.A.		11/17/25		3.95		USD	481		(30,556	)
10-Year Interest Rate Swap, 11/19/35		4.00%	Annual		1-Day SOFR, 5.32%	Annual		Bank of America N.A.		11/17/25		4.00		USD	259		(17,130	)
10-Year Interest Rate Swap, 11/22/35		3.97%	Annual		1-Day SOFR, 5.32%	Annual		Citibank N.A.		11/20/25		3.97		USD	293		(18,827	)
10-Year Interest Rate Swap, 11/30/35		3.84%	Annual		1-Day SOFR, 5.32%	Annual		Bank of America N.A.		11/28/25		3.84		USD	234		(13,599	)
10-Year Interest Rate Swap, 11/30/35		3.96%	Annual		1-Day SOFR, 5.32%	Annual		Citibank N.A.		11/28/25		3.96		USD	165		(10,537	)
10-Year Interest Rate Swap, 12/17/35		3.40%	Annual		1-Day SOFR, 5.32%	Annual		Morgan Stanley & Co. International PLC		12/15/25		3.40		USD	97		(3,776	)
																	(518,818	)
Put
10-Year Interest Rate Swap, 03/14/34		6-mo. EURIBOR, 3.84%	Semi-Annual		3.23%	Annual		Barclays Bank PLC		03/12/24		3.23		EUR	4,058		(1,382	)
5-Year Interest Rate Swap, 03/16/29		1-Day SOFR, 5.32%	Annual		3.96%	Annual		Barclays Bank PLC		03/14/24		3.96		USD	1,638		(2,758	)
5-Year Interest Rate Swap, 03/16/29		1-Day SOFR, 5.32%	Annual		3.96%	Annual		Goldman Sachs International		03/14/24		3.96		USD	2,400		(4,041	)
5-Year Interest Rate Swap, 06/14/29		1-Day SOFR, 5.32%	Annual		3.75%	Annual		Citibank N.A.		06/12/24		3.75		USD	6,555		(48,469	)
5-Year Interest Rate Swap, 06/14/29		1-Day SOFR, 5.32%	Annual		3.75%	Annual		Goldman Sachs International		06/12/24		3.75		USD	6,000		(44,365	)
5-Year Interest Rate Swap, 11/16/29		1-Day SOFR, 5.32%	Annual		3.90%	Annual		Barclays Bank PLC		11/14/24		3.90		USD	3,631		(32,195	)
10-Year Interest Rate Swap, 11/19/35		1-Day SOFR, 5.32%	Annual		3.95%	Annual		Bank of America N.A.		11/17/25		3.95		USD	481		(14,095	)
10-Year Interest Rate Swap, 11/19/35		1-Day SOFR, 5.32%	Annual		4.00%	Annual		Bank of America N.A.		11/17/25		4.00		USD	259		(7,261	)
10-Year Interest Rate Swap, 11/22/35		1-Day SOFR, 5.32%	Annual		3.97%	Annual		Citibank N.A.		11/20/25		3.96		USD	293		(8,494	)
10-Year Interest Rate Swap, 11/30/35		1-Day SOFR, 5.32%	Annual		3.84%	Annual		Bank of America N.A.		11/28/25		3.84		USD	234		(7,640	)
10-Year Interest Rate Swap, 11/30/35		1-Day SOFR, 5.32%	Annual		3.96%	Annual		Citibank N.A.		11/28/25		3.96		USD	165		(4,856	)
10-Year Interest Rate Swap, 12/17/35		1-Day SOFR, 5.32%	Annual		3.40%	Annual		Morgan Stanley & Co. International PLC		12/15/25		3.40		USD	97		(4,635	)
																	(180,191	)
																$	(699,009	)

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.41.V2		5.00	%		Quarterly		12/20/28	USD	2,872	$	(26,721	)	$	(30,852	)	$	4,131

SCHEDULE OF INVESTMENTS 40

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Centrally Cleared Credit Default Swaps — Buy Protection (continued)

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.IG.41.V1		1.00	%		Quarterly		12/20/28	USD	31,000	$	(631,750	)	$	(586,638	)	$	(45,112	)
iTraxx.XO.40.V1		5.00			Quarterly		12/20/28	EUR	170		(14,115	)		(11,059	)		(3,056	)
										$	(672,586	)	$	(628,549	)	$	(44,037	)

Centrally Cleared Interest Rate Swaps

Paid by the Fund		Received by the Fund		Effective Date			Termination Date		Notional Amount (000)			Value			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
Rate	Frequency	Rate	Frequency
10.95%	Monthly	28-Day MXIBTIIE, 11.50%	Monthly		N/A			12/03/24		MXN	6,517	$	(100	)	$	—		$	(100	)
10.76%	Monthly	28-Day MXIBTIIE, 11.50%	Monthly		N/A			01/23/25		MXN	3,286		58			1			57
4.68%	Annual	3-mo. PRIBOR, 6.55%	Quarterly		03/20/24	(a)		03/20/25		CZK	4,767		(332	)		1			(333	)
5.14%	Annual	6-mo. WIBOR, 5.85%	Semi-Annual		N/A			12/20/25		PLN	358		7			1			6
2.73%	Annual	6-mo. EURIBOR, 3.84%	Semi-Annual		03/20/24	(a)		03/20/26		EUR	15,950		128			(13,656	)		13,784
3.92%	Annual	1-Day SOFR, 5.32%	Annual		03/20/24	(a)		03/20/26		USD	17,620		9,181			913			8,268
4.07%	Annual	1-Day SONIA, 5.19%	Annual		03/20/24	(a)		03/20/26		GBP	4,563		2,063			(21,810	)		23,873
4.10%	Annual	6-mo. PRIBOR, 6.15%	Semi-Annual		03/20/24	(a)		03/20/26		CZK	2,000		(365	)		—			(365	)
4.49%	Annual	1-Day SONIA, 5.19%	Annual		03/20/24	(a)		03/20/26		GBP	9,182		(85,828	)		6,955			(92,783	)
3-mo. KRW CDC, 3.68%	Quarterly	3.83%	Quarterly		N/A			12/20/26		KRW	272,288		3,310			2			3,308
28-Day MXIBTIIE, 11.50%	Monthly	9.21%	Monthly		N/A			01/18/27		MXN	2,266		13			1			12
6-mo. EURIBOR, 3.84%	Semi-Annual	2.42%	Annual		03/20/24	(a)		03/20/27		EUR	5,410		(21,624	)		(5,145	)		(16,479	)
1-Day CORRA, 5.00%	Semi-Annual	3.38%	Semi-Annual		03/20/24	(a)		03/20/27		CAD	6,420		(33,249	)		(2,600	)		(30,649	)
1-Day CORRA, 5.00%	Semi-Annual	3.45%	Semi-Annual		03/20/24	(a)		03/20/27		CAD	3,230		(11,893	)		(1,713	)		(10,180	)
3.55%	Annual	1-Day SONIA, 5.19%	Annual		03/20/24	(a)		03/20/27		GBP	2,850		26,467			5,485			20,982
3.67%	Annual	1-Day SOFR, 5.32%	Annual		03/20/24	(a)		03/20/27		USD	1,190		1,156			1,219			(63	)
3.73%	Annual	1-Day SOFR, 5.32%	Annual		03/20/24	(a)		03/20/27		USD	2,420		(1,250	)		(334	)		(916	)
3.81%	Annual	1-Day SONIA, 5.19%	Annual		03/20/24	(a)		03/20/27		GBP	940		392			(6,487	)		6,879
3.94%	Quarterly	3-mo. BBSW, 4.35%	Quarterly		03/20/24	(a)		03/20/27		AUD	3,580		(15,427	)		(6,434	)		(8,993	)
4.20%	Quarterly	3-mo. BBSW, 4.35%	Quarterly		03/20/24	(a)		03/20/27		AUD	1,940		(17,851	)		(7,931	)		(9,920	)
6-mo. EURIBOR, 3.84%	Semi-Annual	3.80%	Annual		N/A			07/21/28		EUR	88		5,738			2,273			3,465
28-Day MXIBTIIE, 11.50%	Monthly	9.15%	Monthly		N/A			11/07/28		MXN	1,460		1,280			1			1,279
1-Day SOFR, 5.32%	Annual	3.98%	Annual		N/A			12/05/28		USD	1,300		17,394			12			17,382
1-Day SOFR, 5.32%	Annual	3.89%	Annual		N/A			12/07/28		USD	650		5,980			6			5,974
28-Day MXIBTIIE, 11.50%	Monthly	8.67%	Monthly		N/A			01/18/29		MXN	1,457		(153	)		—			(153	)
8.51%	Monthly	28-Day MXIBTIIE, 11.50%	Monthly		03/20/24	(a)		03/14/29		MXN	5,770		1,175			3			1,172
28-Day MXIBTIIE, 11.50%	Monthly	8.54%	Monthly		03/20/24	(a)		03/14/29		MXN	3,000		(402	)		1			(403	)
28-Day MXIBTIIE, 11.50%	Monthly	8.55%	Monthly		03/20/24	(a)		03/14/29		MXN	9,000		(891	)		5			(896	)
28-Day MXIBTIIE, 11.50%	Monthly	8.58%	Monthly		03/20/24	(a)		03/14/29		MXN	6,000		(176	)		3			(179	)
28-Day MXIBTIIE, 11.50%	Monthly	8.59%	Monthly		03/20/24	(a)		03/14/29		MXN	10,000		(60	)		6			(66	)
8.60%	Semi-Annual	28-Day MXIBTIIE, 11.50%	Semi-Annual		03/20/24	(a)		03/14/29		MXN	7,030		(121	)		4			(125	)
28-Day MXIBTIIE, 11.50%	Monthly	8.66%	Monthly		03/20/24	(a)		03/14/29		MXN	5,000		813			3			810
28-Day MXIBTIIE, 11.50%	Monthly	8.68%	Monthly		03/20/24	(a)		03/14/29		MXN	7,000		1,341			4			1,337
28-Day MXIBTIIE, 11.50%	Monthly	8.75%	Monthly		03/20/24	(a)		03/14/29		MXN	7,000		2,480			3			2,477
28-Day MXIBTIIE, 11.50%	Monthly	8.76%	Monthly		03/20/24	(a)		03/14/29		MXN	23,000		8,685			13			8,672
1.32%	Quarterly	3-mo. TAIBOR, 1.49%	Quarterly		03/20/24	(a)		03/20/29		TWD	6,000		1,121			3			1,118
1.33%	Quarterly	3-mo. TAIBOR, 1.49%	Quarterly		03/20/24	(a)		03/20/29		TWD	9,000		1,503			4			1,499
1.36%	Quarterly	3-mo. TAIBOR, 1.49%	Quarterly		03/20/24	(a)		03/20/29		TWD	6,000		736			3			733
1.38%	Quarterly	3-mo. TAIBOR, 1.49%	Quarterly		03/20/24	(a)		03/20/29		TWD	7,000		570			3			567
1.42%	Quarterly	3-mo. TAIBOR, 1.49%	Quarterly		03/20/24	(a)		03/20/29		TWD	10,000		283			3			280
2.24%	Quarterly	China Fixing Repo Rates 7-Day, 2.35%	Quarterly		03/20/24	(a)		03/20/29		CNY	1,500		(999	)		2			(1,001	)
2.25%	Quarterly	China Fixing Repo Rates 7-Day, 2.35%	Quarterly		03/20/24	(a)		03/20/29		CNY	3,000		(2,272	)		4			(2,276	)
2.26%	Quarterly	China Fixing Repo Rates 7-Day, 2.35%	Quarterly		03/20/24	(a)		03/20/29		CNY	6,500		(5,218	)		10			(5,228	)
2.26%	Quarterly	China Fixing Repo Rates 7-Day, 2.35%	Quarterly		03/20/24	(a)		03/20/29		CNY	4,000		(3,185	)		6			(3,191	)
2.27%	Quarterly	1-Day THOR, 2.49%	Quarterly		03/20/24	(a)		03/20/29		THB	20,000		737			6			731
2.29%	Quarterly	1-Day THOR, 2.49%	Quarterly		03/20/24	(a)		03/20/29		THB	26,000		85			8			77

41

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Centrally Cleared Interest Rate Swaps (continued)

Paid by the Fund		Received by the Fund		Effective Date			Termination Date		Notional Amount (000)			Value			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
Rate	Frequency	Rate	Frequency
2.29%	Quarterly	1-Day THOR, 2.49%	Quarterly		03/20/24	(a)		03/20/29		THB	20,000	$	200		$	6		$	194
2.30%	Quarterly	1-Day THOR, 2.49%	Quarterly		03/20/24	(a)		03/20/29		THB	3,500		(12	)		1			(13	)
2.30%	Quarterly	1-Day THOR, 2.49%	Quarterly		03/20/24	(a)		03/20/29		THB	3,500		(59	)		1			(60	)
2.31%	Quarterly	1-Day THOR, 2.49%	Quarterly		03/20/24	(a)		03/20/29		THB	20,000		(539	)		6			(545	)
2.31%	Quarterly	1-Day THOR, 2.49%	Quarterly		03/20/24	(a)		03/20/29		THB	8,620		(145	)		3			(148	)
6-mo. EURIBOR, 3.84%	Semi-Annual	2.35%	Annual		03/20/24	(a)		03/20/29		EUR	250		(1,372	)		3			(1,375	)
6-mo. EURIBOR, 3.84%	Semi-Annual	2.36%	Annual		03/20/24	(a)		03/20/29		EUR	170		(886	)		2			(888	)
2.43%	Quarterly	China Fixing Repo Rates 7-Day, 2.35%	Quarterly		03/20/24	(a)		03/20/29		CNY	3,000		(5,772	)		4			(5,776	)
2.44%	Quarterly	China Fixing Repo Rates 7-Day, 2.35%	Quarterly		03/20/24	(a)		03/20/29		CNY	3,000		(5,811	)		4			(5,815	)
2.44%	Quarterly	China Fixing Repo Rates 7-Day, 2.35%	Quarterly		03/20/24	(a)		03/20/29		CNY	3,000		(5,908	)		5			(5,913	)
2.45%	Quarterly	China Fixing Repo Rates 7-Day, 2.35%	Quarterly		03/20/24	(a)		03/20/29		CNY	3,000		(6,055	)		5			(6,060	)
6-mo. EURIBOR, 3.84%	Semi-Annual	2.46%	Annual		03/20/24	(a)		03/20/29		EUR	4,925		642			(2,879	)		3,521
6-mo. EURIBOR, 3.84%	Semi-Annual	2.47%	Annual		03/20/24	(a)		03/20/29		EUR	5,010		2,575			(12,544	)		15,119
6-mo. EURIBOR, 3.84%	Semi-Annual	2.48%	Annual		03/20/24	(a)		03/20/29		EUR	6,605		6,197			45,559			(39,362	)
6-mo. EURIBOR, 3.84%	Semi-Annual	2.55%	Annual		03/20/24	(a)		03/20/29		EUR	290		1,315			680			635
3-mo. STIBOR, 4.09%	Quarterly	2.56%	Annual		03/20/24	(a)		03/20/29		SEK	2,000		621			387			234
3-mo. STIBOR, 4.09%	Quarterly	2.57%	Annual		03/20/24	(a)		03/20/29		SEK	7,000		2,547			(335	)		2,882
3-mo. STIBOR, 4.09%	Quarterly	2.60%	Annual		03/20/24	(a)		03/20/29		SEK	12,000		6,076			2,622			3,454
6-mo. EURIBOR, 3.84%	Semi-Annual	2.60%	Annual		03/20/24	(a)		03/20/29		EUR	200		1,400			(259	)		1,659
3-mo. STIBOR, 4.09%	Quarterly	2.62%	Annual		03/20/24	(a)		03/20/29		SEK	16,000		9,455			5,334			4,121
6-mo. EURIBOR, 3.84%	Semi-Annual	2.62%	Annual		03/20/24	(a)		03/20/29		EUR	240		1,915			357			1,558
1-Day SORA, 3.48%	Semi-Annual	2.63%	Semi-Annual		03/20/24	(a)		03/20/29		SGD	330		(1,529	)		3			(1,532	)
1-Day SORA, 3.48%	Semi-Annual	2.67%	Semi-Annual		03/20/24	(a)		03/20/29		SGD	340		(1,010	)		3			(1,013	)
3.01%	Quarterly	3-mo. KRW CDC, 3.68%	Quarterly		03/20/24	(a)		03/20/29		KRW	330,850		1,758			3			1,755
3.08%	Annual	6-mo. EURIBOR, 3.84%	Semi-Annual		03/20/24	(a)		03/20/29		EUR	1,000		(31,104	)		959			(32,063	)
1-Day SORA, 3.48%	Semi-Annual	3.12%	Semi-Annual		03/20/24	(a)		03/20/29		SGD	300		3,700			2			3,698
1-Day SORA, 3.48%	Semi-Annual	3.12%	Semi-Annual		03/20/24	(a)		03/20/29		SGD	610		7,630			5			7,625
3.16%	Quarterly	3-mo. KRW CDC, 3.68%	Quarterly		03/20/24	(a)		03/20/29		KRW	1,415,747		324			12			312
3.18%	Quarterly	3-mo. KRW CDC, 3.68%	Quarterly		03/20/24	(a)		03/20/29		KRW	94,000		(70	)		1			(71	)
3.19%	Quarterly	3-mo. KRW CDC, 3.68%	Quarterly		03/20/24	(a)		03/20/29		KRW	407,620		(320	)		3			(323	)
3.19%	Quarterly	3-mo. KRW CDC, 3.68%	Quarterly		03/20/24	(a)		03/20/29		KRW	348,500		(332	)		3			(335	)
3.19%	Quarterly	3-mo. KRW CDC, 3.68%	Quarterly		03/20/24	(a)		03/20/29		KRW	572,000		(524	)		5			(529	)
3.20%	Quarterly	3-mo. KRW CDC, 3.68%	Quarterly		03/20/24	(a)		03/20/29		KRW	1,032,000		(1,378	)		9			(1,387	)
3.23%	Quarterly	3-mo. KRW CDC, 3.68%	Quarterly		03/20/24	(a)		03/20/29		KRW	762,000		(1,867	)		6			(1,873	)
1-Day SONIA, 5.19%	Annual	3.28%	Annual		03/20/24	(a)		03/20/29		GBP	1,270		(21,587	)		17			(21,604	)
3.28%	Semi-Annual	3-mo. STIBOR, 4.09%	Quarterly		03/20/24	(a)		03/20/29		SEK	3,420		(12,026	)		(2,194	)		(9,832	)
3.36%	Quarterly	3-mo. KRW CDC, 3.68%	Quarterly		03/20/24	(a)		03/20/29		KRW	854,000		(5,839	)		7			(5,846	)
3.37%	Quarterly	3-mo. KRW CDC, 3.68%	Quarterly		03/20/24	(a)		03/20/29		KRW	136,000		(984	)		2			(986	)
6-mo. PRIBOR, 6.15%	Semi-Annual	3.42%	Annual		03/20/24	(a)		03/20/29		CZK	2,110		(159	)		1			(160	)
3.44%	Semi-Annual	1-Day CORRA, 5.00%	Semi-Annual		03/20/24	(a)		03/20/29		CAD	1,000		(3,119	)		(2,101	)		(1,018	)
3.45%	Quarterly	3-mo. HIBOR, 4.71%	Quarterly		03/20/24	(a)		03/20/29		HKD	1,620		1,032			2			1,030
6-mo. PRIBOR, 6.15%	Semi-Annual	3.45%	Annual		03/20/24	(a)		03/20/29		CZK	3,000		(42	)		2			(44	)
6-mo. PRIBOR, 6.15%	Semi-Annual	3.48%	Annual		03/20/24	(a)		03/20/29		CZK	4,320		151			2			149
6-mo. PRIBOR, 6.15%	Semi-Annual	3.49%	Annual		03/20/24	(a)		03/20/29		CZK	6,710		437			3			434
1-Day SOFR, 5.32%	Annual	3.52%	Annual		03/20/24	(a)		03/20/29		USD	14,860		(24,764	)		8,885			(33,649	)
3.53%	Annual	6-mo. NIBOR, 4.84%	Semi-Annual		03/20/24	(a)		03/20/29		NOK	2,530		1,177			485			692
1-Day SONIA, 5.19%	Annual	3.55%	Annual		03/20/24	(a)		03/20/29		GBP	1,937		(3,430	)		21,614			(25,044	)
3.56%	Quarterly	3-mo. HIBOR, 4.71%	Quarterly		03/20/24	(a)		03/20/29		HKD	3,000		27			4			23
3.59%	Annual	1-Day SONIA, 5.19%	Annual		03/20/24	(a)		03/20/29		GBP	200		(123	)		(460	)		337
1-Day SONIA, 5.19%	Annual	3.62%	Annual		03/20/24	(a)		03/20/29		GBP	16,903		35,531			82,061			(46,530	)
3.66%	Semi-Annual	1-Day SONIA, 5.19%	Semi-Annual		03/20/24	(a)		03/20/29		GBP	2,920		(13,604	)		16,160			(29,764	)
1-Day SOFR, 5.32%	Annual	3.68%	Annual		03/20/24	(a)		03/20/29		USD	270		1,488			(34	)		1,522
1-Day SOFR, 5.32%	Annual	3.69%	Annual		03/20/24	(a)		03/20/29		USD	240		1,460			(100	)		1,560
3.74%	Annual	6-mo. NIBOR, 4.84%	Semi-Annual		03/20/24	(a)		03/20/29		NOK	3,000		(1,407	)		(62	)		(1,345	)
3.87%	Quarterly	3-mo. HIBOR, 4.71%	Quarterly		03/20/24	(a)		03/20/29		HKD	580		(993	)		1			(994	)
3.88%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	500		759			4			755
3.89%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	500		700			4			696

SCHEDULE OF INVESTMENTS 42

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Centrally Cleared Interest Rate Swaps (continued)

Paid by the Fund		Received by the Fund		Effective Date			Termination Date		Notional Amount (000)			Value			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
Rate	Frequency	Rate	Frequency
3.90%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	320	$	349		$	2		$	347
6-mo. PRIBOR, 6.15%	Semi-Annual	3.93%	Annual		03/20/24	(a)		03/20/29		CZK	20,000		19,138			10			19,128
3.97%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	1,000		(974	)		7			(981	)
6-mo. PRIBOR, 6.15%	Semi-Annual	3.98%	Annual		03/20/24	(a)		03/20/29		CZK	4,440		4,659			2			4,657
3.99%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	350		(573	)		3			(576	)
1-Day SONIA, 5.19%	Annual	4.01%	Annual		03/20/24	(a)		03/20/29		GBP	1,800		43,575			(1,648	)		45,223
4.03%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	300		(854	)		2			(856	)
4.04%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	700		(2,257	)		5			(2,262	)
6-mo. PRIBOR, 6.15%	Semi-Annual	4.04%	Semi-Annual		03/20/24	(a)		03/20/29		CZK	4,500		5,228			2			5,226
4.06%	Annual	1-Day SONIA, 5.19%	Annual		03/20/24	(a)		03/20/29		GBP	170		(4,587	)		2			(4,589	)
4.06%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	600		(2,150	)		5			(2,155	)
4.06%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	400		(1,469	)		3			(1,472	)
4.08%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	140		(590	)		2			(592	)
4.10%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	138		(674	)		1			(675	)
4.10%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	900		(4,393	)		7			(4,400	)
6-mo. PRIBOR, 6.15%	Semi-Annual	4.10%	Annual		03/20/24	(a)		03/20/29		CZK	6,170		7,961			3			7,958
4.11%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	54		(281	)		—			(281	)
4.11%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	350		(1,832	)		3			(1,835	)
4.12%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	210		(1,143	)		1			(1,144	)
4.12%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	875		(4,684	)		7			(4,691	)
4.12%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	134		(718	)		1			(719	)
4.12%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	875		(4,787	)		7			(4,794	)
4.12%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	134		(734	)		1			(735	)
4.22%	Quarterly	3-mo. HIBOR, 4.71%	Quarterly		03/20/24	(a)		03/20/29		HKD	1,000		(3,693	)		1			(3,694	)
4.22%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	100		(827	)		1			(828	)
4.23%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	100		(863	)		—			(863	)
4.24%	Semi-Annual	6-mo. BBSW, 4.43%	Semi-Annual		03/20/24	(a)		03/20/29		AUD	90		(816	)		—			(816	)
4.25%	Quarterly	3-mo. HIBOR, 4.71%	Quarterly		03/20/24	(a)		03/20/29		HKD	2,000		(7,770	)		3			(7,773	)
6-mo. PRIBOR, 6.15%	Semi-Annual	4.25%	Annual		03/20/24	(a)		03/20/29		CZK	5,730		9,120			3			9,117
1-Day SOFR, 5.32%	Annual	4.26%	Annual		03/20/24	(a)		03/20/29		USD	5,000		158,114			36,034			122,080
4.26%	Annual	6-mo. NIBOR, 4.84%	Semi-Annual		03/20/24	(a)		03/20/29		NOK	11,520		(31,037	)		(785	)		(30,252	)
6-mo. WIBOR, 5.85%	Semi-Annual	4.32%	Annual		03/20/24	(a)		03/20/29		PLN	1,000		(1,722	)		3			(1,725	)
6-mo. WIBOR, 5.85%	Semi-Annual	4.38%	Annual		03/20/24	(a)		03/20/29		PLN	930		(950	)		3			(953	)
6-mo. WIBOR, 5.85%	Semi-Annual	4.38%	Annual		03/20/24	(a)		03/20/29		PLN	13,000		(13,352	)		34			(13,386	)
1-Day SOFR, 5.32%	Annual	4.42%	Annual		03/20/24	(a)		03/20/29		USD	550		21,427			950			20,477
6-mo. WIBOR, 5.85%	Semi-Annual	4.43%	Annual		03/20/24	(a)		03/20/29		PLN	2,000		(1,052	)		5			(1,057	)
6-mo. WIBOR, 5.85%	Semi-Annual	4.49%	Annual		03/20/24	(a)		03/20/29		PLN	950		115			3			112
6-mo. WIBOR, 5.85%	Semi-Annual	4.60%	Annual		03/20/24	(a)		03/20/29		PLN	1,320		1,717			4			1,713
4.61%	Quarterly	3-mo. BBR, 5.71%	Semi-Annual		03/20/24	(a)		03/20/29		NZD	130		(1,200	)		1			(1,201	)
6-mo. WIBOR, 5.85%	Semi-Annual	4.64%	Annual		03/20/24	(a)		03/20/29		PLN	2,000		3,453			6			3,447
5.26%	Semi-Annual	3-mo. BBR, 5.71%	Quarterly		03/20/24	(a)		03/20/29		NZD	210		(5,623	)		2			(5,625	)
6.15%	Semi-Annual	1-Day MIBOR, 6.85%	Semi-Annual		03/20/24	(a)		03/20/29		INR	15,000		171			2			169
7.95%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	4,740		1,213			3			1,210
8.02%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	4,000		461			2			459
8.05%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	5,000		230			3			227
8.09%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	420		(20	)		—			(20	)
8.10%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	3,000		(226	)		1			(227	)
8.10%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	980		(67	)		1			(68	)
8.11%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	600		(49	)		—			(49	)
8.11%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	17,000		(1,682	)		11			(1,693	)
8.12%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	6,570		(721	)		4			(725	)
8.13%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	5,000		(668	)		3			(671	)
8.14%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	8,000		(1,242	)		5			(1,247	)
8.14%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	11,000		(1,589	)		6			(1,595	)
8.17%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	15,000		(3,302	)		9			(3,311	)
8.19%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	9,000		(2,273	)		6			(2,279	)
8.21%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	22,500		(6,901	)		13			(6,914	)
8.22%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	6,000		(1,957	)		4			(1,961	)
8.26%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	7,500		(3,095	)		5			(3,100	)
8.32%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	5,000		(2,670	)		3			(2,673	)
8.43%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	6,000		(4,686	)		4			(4,690	)

43

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Centrally Cleared Interest Rate Swaps (continued)

Paid by the Fund		Received by the Fund		Effective Date			Termination Date		Notional Amount (000)			Value			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
Rate	Frequency	Rate	Frequency
8.46%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	6,000	$	(5,138	)	$	4		$	(5,142	)
8.47%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	7,000		(6,085	)		4			(6,089	)
8.53%	Quarterly	3-mo. JIBAR, 8.39%	Quarterly		03/20/24	(a)		03/20/29		ZAR	3,000		(2,965	)		2			(2,967	)
1-Day SOFR, 5.32%	Annual	3.33%	Annual		06/17/24	(a)		06/17/29		USD	844		(5,017	)		8			(5,025	)
1-Day SOFR, 5.32%	Annual	3.36%	Annual		06/17/24	(a)		06/17/29		USD	633		(2,855	)		6			(2,861	)
1-Day SOFR, 5.32%	Annual	3.41%	Annual		06/17/24	(a)		06/17/29		USD	1,267		(3,130	)		12			(3,142	)
1-Day SOFR, 5.32%	Annual	3.42%	Annual		06/17/24	(a)		06/17/29		USD	475		(823	)		4			(827	)
1-Day SOFR, 5.32%	Annual	3.44%	Annual		06/17/24	(a)		06/17/29		USD	633		(686	)		6			(692	)
1-Day SOFR, 5.32%	Annual	3.47%	Annual		06/17/24	(a)		06/17/29		USD	1,098		167			10			157
3.53%	Annual	1-Day SOFR, 5.32%	Annual		06/17/24	(a)		06/17/29		USD	422		(1,280	)		4			(1,284	)
3.59%	Annual	1-Day SOFR, 5.32%	Annual		06/17/24	(a)		06/17/29		USD	844		(4,886	)		8			(4,894	)
1-Day SOFR, 5.32%	Annual	3.63%	Annual		06/18/24	(a)		06/18/29		USD	1,200		8,766			10			8,756
3.68%	Annual	1-Day SOFR, 5.32%	Annual		06/17/24	(a)		06/17/29		USD	1,054		(10,139	)		10			(10,149	)
6-mo. EURIBOR, 3.84%	Semi-Annual	2.41%	Annual		03/20/24	(a)		03/20/34		EUR	940		(12,111	)		18			(12,129	)
2.54%	Annual	6-mo. EURIBOR, 3.84%	Semi-Annual		03/20/24	(a)		03/20/34		EUR	2,615		(327	)		6,535			(6,862	)
6-mo. EURIBOR, 3.84%	Semi-Annual	2.55%	Annual		03/20/24	(a)		03/20/34		EUR	14,320		14,986			144,683			(129,697	)
2.57%	Annual	6-mo. EURIBOR, 3.84%	Semi-Annual		03/20/24	(a)		03/20/34		EUR	2,670		(6,295	)		11,685			(17,980	)
3.23%	Annual	1-Day SONIA, 5.19%	Annual		03/20/24	(a)		03/20/34		GBP	740		25,188			17			25,171
1-Day SOFR, 5.32%	Annual	3.49%	Annual		03/20/24	(a)		03/20/34		USD	8,200		(45,092	)		28,936			(74,028	)
3.53%	Annual	1-Day SONIA, 5.19%	Annual		03/20/24	(a)		03/20/34		GBP	8,320		19,983			(101,809	)		121,792
2.24%	Annual	6-mo. EURIBOR, 3.84%	Semi-Annual		03/20/24	(a)		03/20/54		EUR	280		8,677			11			8,666
2.37%	Annual	6-mo. EURIBOR, 3.84%	Semi-Annual		03/20/24	(a)		03/20/54		EUR	6,100		12,191			(169,443	)		181,634
3.33%	Annual	1-Day SOFR, 5.32%	Annual		03/20/24	(a)		03/20/54		USD	5,560		141,921			(46,007	)		187,928
												$	96,875		$	24,631		$	72,244

^(a) Forward Swap.

Centrally Cleared Inflation Swaps

Paid by the Fund			Received by the Fund		Termination Date		Notional Amount (000)			Value		Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
Reference	Frequency		Rate	Frequency
Eurostat Eurozone HICP Ex Tobacco Unrevised		At Termination	2.41%	At Termination		11/15/33		EUR	20	$	664	$	38		$	626
UK RPI All Items NSA		At Termination	3.83%	At Termination		11/15/33		GBP	350		14,248		(577	)		14,825
Eurostat Eurozone HICP Ex
Tobacco Unrevised		At Termination	2.17%	At Termination		01/15/34		EUR	810		5,375		442			4,933
UK RPI All Items NSA		At Termination	3.56%	At Termination		01/15/34		GBP	670		81		(425	)		506
Eurostat Eurozone HICP Ex
Tobacco Unrevised		At Termination	2.51%	At Termination		12/15/53		EUR	210		7,518		10			7,508
3.16%		At Termination	UK RPI All Items NSA	At Termination		01/15/54		GBP	108		423		5			418
3.17%		At Termination	UK RPI All Items NSA	At Termination		01/15/54		GBP	107		34		6			28
US CPI for All Urban
Consumers NSA		At Termination	2.50%	At Termination		01/19/54		USD	155		709		7			702
US CPI for All Urban
Consumers NSA		At Termination	2.51%	At Termination		01/22/54		USD	155		1,024		7			1,017
										$	30,076	$	(487	)	$	30,563

OTC Credit Default Swaps — Buy Protection

Reference Obligations/Index	Financing Rate Paid by the Fund			Payment Frequency		Counterparty	Termination Date		Notional Amount (000)			Value			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
American Electric Power Co., Inc		1.00	%		Quarterly	Bank of America N.A.		12/20/28		USD	38	$	(1,119	)	$	(859	)	$	(260	)
American Electric Power Co., Inc		1.00			Quarterly	Bank of America N.A.		12/20/28		USD	48		(1,403	)		(991	)		(412	)
American Electric Power Co., Inc		1.00			Quarterly	Goldman Sachs International		12/20/28		USD	90		(2,640	)		(2,142	)		(498	)
American Express Co		1.00			Quarterly	Citibank N.A.		12/20/28		USD	90		(2,653	)		(1,899	)		(754	)

SCHEDULE OF INVESTMENTS 44

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

OTC Credit Default Swaps — Buy Protection (continued)

Reference Obligations/Index	Financing Rate Paid by the Fund			Payment Frequency		Counterparty		Termination Date		Notional Amount (000)		Value			Upfront Premium Paid (Received)			Unrealized Appreciation (Depreciation)
Dominion Energy Inc.		1.00	%		Quarterly		Bank of America N.A.		12/20/28	USD	38	$	(817	)	$	(609	)	$	(208	)
Dominion Energy Inc.		1.00			Quarterly		Bank of America N.A.		12/20/28	USD	10		(206	)		(149	)		(57	)
Dominion Energy Inc.		1.00			Quarterly		Bank of America N.A.		12/20/28	USD	20		(428	)		(302	)		(126	)
Dominion Energy Inc.		1.00			Quarterly		Citibank N.A.		12/20/28	USD	19		(406	)		(278	)		(128	)
Federal Republic of Brazil		1.00			Quarterly		Goldman Sachs International		12/20/28	USD	117		1,757			3,250			(1,493	)
Republic of Colombia		1.00			Quarterly		Morgan Stanley & Co. International PLC		12/20/28	USD	74		2,174			3,528			(1,354	)
Republic of South Africa		1.00			Quarterly		Citibank N.A.		12/20/28	USD	43		2,331			2,255			76
Republic of South Africa		1.00			Quarterly		Citibank N.A.		12/20/28	USD	39		2,067			2,059			8
Republic of South Africa		1.00			Quarterly		Goldman Sachs International		12/20/28	USD	78		4,163			5,195			(1,032	)
United Mexican States		1.00			Quarterly		Goldman Sachs International		12/20/28	USD	100		(560	)		320			(880	)
												$	2,260		$	9,378		$	(7,118	)

OTC Interest Rate Swaps

Paid by the Fund				Received by the Fund				Counterparty	Effective Date			Termination Date		Notional Amount (000)			Value			Upfront Premium Paid (Received)		Unrealized Appreciation (Depreciation)
Rate	Frequency			Rate		Frequency
1-Day
BZDIOVER,
0.44%		At Termination			10.79%		At Termination	Citibank N.A.		N/A			01/02/25		BRL	1,157	$	1,062		$	—	$	1,062
					1-Day COOIS,
10.30%		At Termination			12.02%		At Termination	Citibank N.A.		N/A			01/29/25		COP	425,961		(168	)		—		(168	)
					1-Day COOIS,
10.18%		At Termination			12.02%		At Termination	Citibank N.A.		N/A			06/20/25		COP	386,441		(610	)		—		(610	)
					1-Day COOIS,
7.76%		At Termination			12.02%		At Termination	Citibank N.A.		11/05/24	(a)		11/05/25		COP	624,054		(1,194	)		—		(1,194	)
1-Day
BZDIOVER,
0.44%		At Termination			10.58%		At Termination	Citibank N.A.		N/A			01/02/26		BRL	2,421		6,786			—		6,786
1-Day
BZDIOVER,
0.44%		At Termination			9.65%		At Termination	Citibank N.A.		N/A			01/02/26		BRL	922		8			—		8
1-Day
BZDIOVER,
0.44%		At Termination			10.29%		At Termination	Bank of America N.A.		N/A			01/04/27		BRL	1,000		2,577			—		2,577
1-Day
BZDIOVER,								Morgan Stanley & Co.
0.44%		At Termination			10.51%		At Termination	International PLC		N/A			01/04/27		BRL	1,000		3,570			—		3,570
1-Day
BZDIOVER,
0.44%		At Termination			10.64%		At Termination	Bank of America N.A.		N/A			01/04/27		BRL	4,000		17,462			—		17,462
1-Day
BZDIOVER,
0.44%		At Termination			10.76%		At Termination	Citibank N.A.		N/A			01/04/27		BRL	14,000		70,970			—		70,970
1-Day
BZDIOVER,
0.44%		At Termination			9.73%		At Termination	Barclays Bank PLC		N/A			01/04/27		BRL	3,000		(613	)		—		(613	)
1-Day
BZDIOVER,
0.44%		At Termination			9.79%		At Termination	BNP Paribas SA		N/A			01/04/27		BRL	606		122			—		122
1-Day
BZDIOVER,								Morgan Stanley & Co.
0.44%		At Termination			9.79%		At Termination	International PLC		N/A			01/04/27		BRL	1,000		244			—		244
1-Day
BZDIOVER,								Morgan Stanley & Co.
0.44%		At Termination			9.83%		At Termination	International PLC		N/A			01/04/27		BRL	1,000		398			—		398

45

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

OTC Interest Rate Swaps (continued)

Paid by the Fund					Received by the Fund			Effective Date			Termination Date		Notional Amount (000)			Value			Upfront Premium Paid (Received)		Unrealized Appreciation
Rate		Frequency			Rate	Frequency	Counterparty
					1-Day CLP
					Interbank Rate,
	4.40%		Semi-Annual		23,432.52%	Semi-Annual	Goldman Sachs International		01/26/26	(a)		01/26/28		CLP	204,490	$	(668	)	$	—	$	(668	)
					1-Day CLP
					Interbank Rate,
	4.44%		Semi-Annual		23,432.52%	Semi-Annual	Goldman Sachs International		01/26/26	(a)		01/26/28		CLP	145,394		(573	)		—		(573	)
																$	99,373		$	—	$	99,373

^(a) Forward Swap

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.

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	$	—	$	45,746,149		$	95,392	$	45,841,541
Corporate Bonds		—		188,616,766			—		188,616,766
Foreign Agency Obligations		—		9,647,763			—		9,647,763
Municipal Bonds		—		3,630,970			—		3,630,970
Non-Agency Mortgage-Backed Securities		—		66,801,386			—		66,801,386
U.S. Government Sponsored Agency Securities		—		226,148,700			—		226,148,700
U.S. Treasury Obligations		—		209,024,257			—		209,024,257
Short-Term Securities
Money Market Funds		76,834,304		—			—		76,834,304
Options Purchased
Foreign Currency Exchange Contracts		—		6,386			—		6,386
Interest Rate Contracts		103,791		61,876			—		165,667
Liabilities
Investments
TBA Sale Commitments		—		(37,255,468	)		—		(37,255,468	)
	$	76,938,095	$	712,428,785		$	95,392	$	789,462,272

SCHEDULE OF INVESTMENTS 46

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Fair Value Hierarchy as of Period End (continued)

	Level 1			Level 2			Level 3		Total
Derivative Financial Instruments(a)
Assets
Credit Contracts	$	—		$	4,215		$	—	$	4,215
Foreign Currency Exchange Contracts		—			431,884			—		431,884
Interest Rate Contracts		632,513			1,057,560			—		1,690,073
Other Contracts		—			30,563			—		30,563
Liabilities
Credit Contracts		—			(55,370	)		—		(55,370	)
Foreign Currency Exchange Contracts		—			(444,314	)		—		(444,314	)
Interest Rate Contracts		(1,028,419	)		(1,584,952	)		—		(2,613,371	)
	$	(395,906	)	$	(560,414	)	$	—	$	(956,320	)

^(a)  Derivative financial instruments are swaps, futures contracts, forward foreign currency exchange contracts and options written. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value.

Currency Abbreviation
AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
CHF	Swiss Franc
CLP	Chilean Peso
CNH	Chinese Yuan
CNY	Chinese Yuan
COP	Colombian Peso
CZK	Czech Koruna
EUR	Euro
GBP	British Pound
HKD	Hong Kong Dollar
HUF	Hungarian Forint
IDR	Indonesian Rupiah
INR	Indian Rupee
JPY	Japanese Yen
KRW	South Korean Won
MXN	Mexican Peso
MYR	Malaysian Ringgit
NOK	Norwegian Krone
NZD	New Zealand Dollar
PHP	Philippine Peso
PLN	Polish Zloty
SEK	Swedish Krona
SGD	Singapore Dollar
THB	Thai Baht
TRY	Turkish Lira
TWD	New Taiwan Dollar
USD	United States Dollar

Currency Abbreviation (continued)
ZAR	South African Rand
Portfolio Abbreviation
BAB	Build America Bond
BBR	Bank Bill Rate
BBSW	Bank Bill Swap Rate
BMO	BMO Capital Markets
BZDIOVER	Overnight Brazil Interbank Deposit (CETIP)
CLO	Collateralized Loan Obligation
CMT	Constant Maturity Treasury
CORRA	Overnight Bank of Canada Repo Rate
CPI	Consumer Price Index
CR	Custodian Receipt
CVR	Contingent Value Right
DAC	Designated Activity Company
EURIBOR	Euro Interbank Offered Rate
GO	General Obligation Bonds
HIBOR	Hong Kong Interbank Offered Rate
JIBAR	Johannesburg Interbank Average Rate
LIBOR	London Interbank Offered Rate
MIBOR	Mumbai InterBank Overnight Rate
MTA	Month Treasury Average
MTN	Medium-Term Note
MXIBTIIE	Mexico Interbank TIIE 28-Day
NIBOR	Norwegian Interbank Offered Rate
PIK	Payment-in-Kind
PRIBOR	Prague Interbank Offer Rate
RB	Revenue Bond
REIT	Real Estate Investment Trust

47

Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Diversified Fixed Income Fund

Portfolio Abbreviation (continued)
REMIC	Real Estate Mortgage Investment Conduit
SAB	Special Assessment Bonds
SAN	State Aid Notes
SOFR	Secured Overnight Financing Rate
SONIA	Sterling Overnight Interbank Average Rate
SORA	Singapore Overnight Rate Average
ST	Special Tax
STACR	Structured Agency Credit Risk
STIBOR	Stockholm Interbank Offered Rate
STRIP	Separate Trading of Registered Interest & Principal
TBA	To-Be-Announced
THOR	Thai Overnight Repurchase Rate
UK RPI	United Kingdom Retail Price Index
WIBOR	Warsaw Interbank Offered Rate

SCHEDULE OF INVESTMENTS 48