Blackrock Mid Cap Dividend Series NPORT-P BlackRock Mid Cap Dividend Fund (Oct 2019 report)

Schedule of Investments  (unaudited) October 31, 2019 BlackRock Mid Cap Dividend Fund (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks — 95.2%
Aerospace & Defense — 2.1%
BAE Systems PLC		961,041	$	7,178,698
Auto Components — 0.8%
Garrett Motion, Inc.(a)		98,986		940,367
Magna International, Inc.		35,503		1,908,996
				2,849,363
Automobiles — 1.2%
General Motors Co.		114,026		4,237,206
Banks — 5.1%
KeyCorp		347,066		6,236,776
Regions Financial Corp.		448,681		7,223,764
SunTrust Banks, Inc.		61,282		4,188,012
				17,648,552
Beverages — 1.0%
Constellation Brands, Inc., Class A		9,602		1,827,549
Molson Coors Brewing Co., Class B		30,972		1,632,844
				3,460,393
Building Products — 0.5%
Johnson Controls International PLC		42,627		1,847,028
Capital Markets — 3.1%
Blackstone Group, Inc., Class A		66,908		3,556,829
Raymond James Financial, Inc.		31,372		2,619,248
State Street Corp.		67,926		4,487,871
				10,663,948
Chemicals — 2.4%
Cabot Corp.		30,252		1,318,685
Corteva, Inc.(b)		95,101		2,508,764
Eastman Chemical Co.		39,170		2,978,487
Huntsman Corp.		69,512		1,538,300
				8,344,236
Commercial Services & Supplies — 0.2%
KAR Auction Services, Inc.		28,374		705,378
Communications Equipment — 0.9%
Motorola Solutions, Inc.		18,779		3,123,323
Construction & Engineering — 0.6%
Quanta Services, Inc.		44,978		1,891,325
Construction Materials — 0.7%
CRH PLC		62,523		2,279,166
Containers & Packaging — 1.7%
International Paper Co.		36,745		1,605,022
Packaging Corp. of America		15,381		1,683,604

Security	Shares		Value
Containers & Packaging (continued)
Westrock Co.		66,067	$	2,468,924
				5,757,550
Diversified Consumer Services — 0.5%
H&R Block, Inc.		65,308		1,632,047
Diversified Financial Services — 3.3%
AXA Equitable Holdings, Inc.		363,003		7,840,865
Jefferies Financial Group, Inc.		190,528		3,557,158
				11,398,023
Electric Utilities — 5.1%
Entergy Corp.		41,015		4,982,502
Evergy, Inc.		29,678		1,896,721
FirstEnergy Corp.		218,690		10,567,101
				17,446,324
Electrical Equipment — 1.5%
Hubbell, Inc.		20,600		2,919,020
nVent Electric PLC		62,259		1,435,693
Rockwell Automation, Inc.		5,082		874,053
				5,228,766
Electronic Equipment, Instruments & Components — 2.1%
Avnet, Inc.		135,360		5,354,842
TE Connectivity Ltd.		19,708		1,763,866
				7,118,708
Energy Equipment & Services — 1.6%
Baker Hughes Co.		258,261		5,526,785
Entertainment — 0.5%
Viacom, Inc., Class B		79,929		1,723,269
Equity Real Estate Investment Trusts (REITs) — 1.8%
Lamar Advertising Co., Class A		48,009		3,841,200
Prologis, Inc.		11,481		1,007,572
Welltower, Inc.		15,927		1,444,420
				6,293,192
Food Products — 2.4%
Bunge Ltd.		39,918		2,155,572
Conagra Brands, Inc.		101,395		2,742,735
Kellogg Co.		24,101		1,531,136
Post Holdings, Inc.(b)		17,210		1,770,909
				8,200,352
Health Care Equipment & Supplies — 4.8%
Alcon, Inc.(b)		31,808		1,881,065
ConvaTec Group PLC(c)		794,772		2,030,422
Koninklijke Philips NV		162,992		7,151,122
Zimmer Biomet Holdings, Inc.		40,363		5,579,378
				16,641,987
Health Care Providers & Services — 4.8%
Cardinal Health, Inc.		39,061		1,931,566
Cigna Corp.(b)		23,743		4,237,176

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Schedule of Investments  (unaudited) (continued) October 31, 2019 BlackRock Mid Cap Dividend Fund (Percentages shown are based on Net Assets)

Security	Shares		Value
Health Care Providers & Services (continued)
Humana, Inc.		18,526	$	5,450,349
Laboratory Corp. of America Holdings(b)		12,431		2,048,256
McKesson Corp.		10,538		1,401,554
Quest Diagnostics, Inc.		13,360		1,352,700
				16,421,601
Household Durables — 1.6%
Mohawk Industries, Inc.(b)		9,946		1,426,057
Newell Brands, Inc.		174,717		3,314,382
Whirlpool Corp.		4,322		657,463
				5,397,902
Independent Power and Renewable Electricity Producers — 0.5%
Vistra Energy Corp.		63,791		1,724,271
Insurance — 14.4%
Allstate Corp.		24,476		2,604,736
American International Group, Inc.		144,320		7,643,187
Arthur J Gallagher & Co.		71,396		6,512,743
Assurant, Inc.		45,921		5,789,261
Assured Guaranty Ltd.		72,341		3,394,240
Brighthouse Financial, Inc.(b)		151,064		5,704,177
Everest Re Group Ltd.		5,916		1,520,944
Hartford Financial Services Group, Inc.		75,754		4,324,038
Marsh & McLennan Cos., Inc.		8,223		852,067
MetLife, Inc.		75,025		3,510,420
White Mountains Insurance Group Ltd.(a)		2,938		3,146,598
Willis Towers Watson PLC		24,351		4,551,202
				49,553,613
IT Services — 4.0%
Amdocs Ltd.		38,560		2,514,112
Cognizant Technology Solutions Corp., Class A		93,004		5,667,664
Fidelity National Information Services, Inc.		42,786		5,637,483
				13,819,259
Machinery — 3.8%
AGCO Corp.		23,751		1,821,464
Allison Transmission Holdings, Inc.		44,576		1,943,959
Dover Corp.		8,865		920,985
Pentair PLC		138,315		5,735,923
Stanley Black & Decker, Inc.		12,422		1,879,821
Wabtec Corp.		11,794		818,150
				13,120,302
Media — 1.0%
iHeartMedia, Inc., Class A(a)		129,213		1,852,914

Security	Shares		Value
Media (continued)
Publicis Groupe SA		37,129	$	1,597,978
				3,450,892
Metals & Mining — 1.0%
Newmont Goldcorp Corp.		87,549		3,478,322
Multi-Utilities — 0.5%
Public Service Enterprise Group, Inc.		29,694		1,879,927
Multiline Retail — 3.4%
Dollar General Corp.		26,635		4,270,656
Dollar Tree, Inc.(b)		54,889		6,059,746
Kohl’s Corp.		29,206		1,497,099
				11,827,501
Oil, Gas & Consumable Fuels — 5.7%
Marathon Oil Corp.		500,221		5,767,548
Marathon Petroleum Corp.		122,657		7,843,915
Williams Cos., Inc.		274,061		6,114,301
				19,725,764
Real Estate Management & Development — 0.7%
Howard Hughes Corp.(b)		9,950		1,112,609
Realogy Holdings Corp.		149,569		1,178,604
				2,291,213
Road & Rail — 0.5%
Norfolk Southern Corp.		8,667		1,577,394
Semiconductors & Semiconductor Equipment — 1.1%
NXP Semiconductors NV		31,817		3,616,957
Software — 2.2%
CDK Global, Inc.		74,744		3,777,562
Constellation Software, Inc.		3,748		3,701,701
				7,479,263
Technology Hardware, Storage & Peripherals — 0.5%
HP, Inc.		93,346		1,621,420
Textiles, Apparel & Luxury Goods — 1.4%
Ralph Lauren Corp.		32,284		3,101,201
Tapestry, Inc.		67,443		1,744,076
				4,845,277
Tobacco — 1.5%
Altria Group, Inc.		86,731		3,884,681
Imperial Brands PLC		63,888		1,401,413
				5,286,094
Trading Companies & Distributors — 1.1%
Ferguson PLC		34,461		2,942,739

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Schedule of Investments  (unaudited) (continued) October 31, 2019 BlackRock Mid Cap Dividend Fund (Percentages shown are based on Net Assets)

Security	Shares		Value
Trading Companies & Distributors (continued)
WESCO International, Inc.(b)		18,530	$	929,280
				3,872,019
Wireless Telecommunication Services — 1.6%
Telephone & Data Systems, Inc.		207,026		5,401,308
Total Long-Term Investments — 95.2% (Cost — $305,486,583)				327,585,918

Security	Shares		Value
Short-Term Securities — 5.2%
BlackRock Liquidity Funds,T-Fund, Institutional Class, 1.70%(d)(f)		16,429,586	$	16,429,586
SL Liquidity Series, LLC, Money Market Series, 1.97%(d)(e)(f)		1,328,166		1,328,432
Total Short-Term Securities — 5.2% (Cost — $17,758,018)				17,758,018
Total Investments — 100.4% (Cost — $323,244,601)				345,343,936
Liabilities in Excess of Other Assets — (0.4)%				(1,455,920	)
Net Assets — 100.0%			$	343,888,016

^(a) Security, or a portion of the security, is on loan.

^(b)  Non-income producing security.

^(c)  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.

^(d)  Annualized7-day yield as of period end.

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

^(f)  During the period ended October 31, 2019, investments in issuers considered to be an affiliate/affiliates of the Fund for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliate	Shares Held at 01/31/19		Net Activity		Shares Held at 10/31/19		Value at 10/31/19		Income			Net Realized Gain (Loss)(a)			Change in Unrealized Appreciation (Depreciation)
BlackRock Liquidity Funds,T-Fund, Institutional Class		11,667,000		4,762,586		16,429,586	$	16,429,586	$	195,987		$	—		$	—
SL Liquidity Series, LLC, Money Market Series		272,133		1,056,033		1,328,166		1,328,432		6,357	(b)		(109	)		(27	)
							$	17,758,018	$	202,344		$	(109	)	$	(27	)

^(a)  Includes net capital gain distributions, if applicable.

^(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.

For Fund compliance purposes, the Fund’s industry classifications refer to one or more of the industrysub-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 industrysub-classifications for reporting ease.

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Schedule of Investments  (unaudited) (continued) October 31, 2019 BlackRock Mid Cap Dividend Fund

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

• Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access

• Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

• Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee”) own assumptions used in determining the fair value of investments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for investments is based on the pricing transparency of the investments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments, refer to the Fund’s most recent financial statements as contained in its annual report.

The following tables summarize the Fund’s investments categorized in the disclosure hierarchy:

	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Common Stocks:
Aerospace & Defense	$	—	$	7,178,698	$	—	$	7,178,698
Auto Components		2,849,363		—		—		2,849,363
Automobiles		4,237,206		—		—		4,237,206
Banks		17,648,552		—		—		17,648,552
Beverages		3,460,393		—		—		3,460,393
Building Products		1,847,028		—		—		1,847,028
Capital Markets		10,663,948		—		—		10,663,948
Chemicals		8,344,236		—		—		8,344,236
Commercial Services & Supplies		705,378		—		—		705,378
Communications Equipment		3,123,323		—		—		3,123,323
Construction & Engineering		1,891,325		—		—		1,891,325
Construction Materials		—		2,279,166		—		2,279,166
Containers & Packaging		5,757,550		—		—		5,757,550
Diversified Consumer Services		1,632,047		—		—		1,632,047
Diversified Financial Services		11,398,023		—		—		11,398,023
Electric Utilities		17,446,324		—		—		17,446,324
Electrical Equipment		5,228,766		—		—		5,228,766
Electronic Equipment, Instruments & Components		7,118,708		—		—		7,118,708
Energy Equipment & Services		5,526,785		—		—		5,526,785
Entertainment		1,723,269		—		—		1,723,269
Equity Real Estate Investment Trusts (REITs)		6,293,192		—		—		6,293,192

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Schedule of Investments  (unaudited) (continued) October 31, 2019 BlackRock Mid Cap Dividend Fund

Fair Value Hierarchy as of Period End (continued)

	Level 1		Level 2		Level 3		Total
Common Stocks (continued):
Food Products	$	8,200,352	$	—	$	—	$	8,200,352
Health Care Equipment & Supplies		5,579,378		11,062,609		—		16,641,987
Health Care Providers & Services		16,421,601		—		—		16,421,601
Household Durables		5,397,902		—		—		5,397,902
Independent Power and Renewable Electricity Producers		1,724,271		—		—		1,724,271
Insurance		49,553,613		—		—		49,553,613
IT Services		13,819,259		—		—		13,819,259
Machinery		13,120,302		—		—		13,120,302
Media		1,852,914		1,597,978		—		3,450,892
Metals & Mining		3,478,322		—		—		3,478,322
Multi-Utilities		1,879,927		—		—		1,879,927
Multiline Retail		11,827,501		—		—		11,827,501
Oil, Gas & Consumable Fuels		19,725,764		—		—		19,725,764
Real Estate Management & Development		2,291,213		—		—		2,291,213
Road & Rail		1,577,394		—		—		1,577,394
Semiconductors & Semiconductor Equipment		3,616,957		—		—		3,616,957
Software		7,479,263		—		—		7,479,263
Technology Hardware, Storage & Peripherals		1,621,420		—		—		1,621,420
Textiles, Apparel & Luxury Goods		4,845,277		—		—		4,845,277
Tobacco		3,884,681		1,401,413		—		5,286,094
Trading Companies & Distributors		929,280		2,942,739		—		3,872,019
Wireless Telecommunication Services		5,401,308		—		—		5,401,308
Short-Term Securities		16,429,586		—		—		16,429,586
Subtotal	$	317,552,901	$	26,462,603	$	—	$	344,015,504
Investments Valued at Net Asset Value (“NAV”)(a)								1,328,432
Total Investments							$	345,343,936

^(a)  Certain investments of the Fund’s were fair valued using NAV per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

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