Blackrock Mid Cap Dividend Series NPORT-P BlackRock Mid-Cap Value Fund (Jul 2022 report)

Schedule of Investments (unaudited)  July 31, 2022 BlackRock Mid-Cap Value Fund (formerly known as BlackRock Mid Cap Dividend Fund) (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Aerospace & Defense — 4.5%
Airbus SE		143,217	$	15,441,898
BAE Systems PLC		1,337,064		12,566,714
Boeing Co.(a)		16,343		2,603,603
Huntington Ingalls Industries, Inc.		52,810		11,451,321
				42,063,536
Air Freight & Logistics — 0.7%
FedEx Corp.		28,463		6,634,441
Airlines(a) — 0.4%
Delta Air Lines, Inc.		57,693		1,834,637
United Airlines Holdings, Inc.		53,365		1,961,164
				3,795,801
Auto Components — 1.8%
Lear Corp.		78,706		11,895,625
Magna International, Inc.		73,026		4,663,440
				16,559,065
Automobiles — 1.9%
Ford Motor Co.		389,559		5,722,622
General Motors Co.(a)		320,437		11,619,045
				17,341,667
Banks — 4.4%
Comerica, Inc.		58,461		4,546,512
First Citizens BancShares, Inc., Class A		33,519		25,363,157
M&T Bank Corp.		64,368		11,422,101
				41,331,770
Beverages — 1.7%
Constellation Brands, Inc., Class A		53,317		13,132,510
Monster Beverage Corp.(a)		26,783		2,668,123
				15,800,633
Biotechnology(a) — 1.7%
Biogen, Inc.		25,509		5,485,966
SPDR S&P Biotech ETF		132,117		10,718,652
				16,204,618
Capital Markets — 2.1%
Invesco Ltd.		266,201		4,722,406
Raymond James Financial, Inc.		106,630		10,499,856
T Rowe Price Group, Inc.		37,254		4,599,751
				19,822,013
Chemicals — 2.6%
Axalta Coating Systems Ltd.(a)		755,987		19,065,992
Corteva, Inc.		95,339		5,486,760
				24,552,752
Communications Equipment — 1.0%
Nokia OYJ, ADR		958,932		4,967,268
Telefonaktiebolaget LM Ericsson, ADR		580,148		4,374,316
				9,341,584
Consumer Finance — 1.1%
Capital One Financial Corp.		96,538		10,602,769
Containers & Packaging — 1.7%
Sealed Air Corp.		257,474		15,736,811
Diversified Financial Services — 5.3%
Acropolis Infrastructure Acquisition Corp.(a)		50,766		7,615
Acropolis Infrastructure Acquisition Corp., Class A(a)		152,300		1,480,356
Apollo Global Management, Inc.		317,811		18,147,008
Cannae Holdings, Inc.(a)		633,046		13,363,601

Security	Shares		Value
Diversified Financial Services (continued)
Equitable Holdings, Inc.		402,107	$	11,431,902
GX Acquisition Corp. II, Class A(b)		117,322		1,150,929
Jackson Financial, Inc., Class A		122,267		3,363,565
				48,944,976
Electric Utilities — 1.8%
American Electric Power Co., Inc.		50,568		4,983,982
Edison International		100,230		6,792,587
PG&E Corp.(a)		219,462		2,383,357
Pinnacle West Capital Corp.		40,756		2,994,344
				17,154,270
Electrical Equipment — 0.6%
Siemens Energy AG(a)		328,383		5,456,900
Electronic Equipment, Instruments & Components — 0.4%
Zebra Technologies Corp., Class A(a)		10,283		3,678,126
Entertainment — 0.9%
Warner Bros Discovery, Inc.(a)		511,970		7,679,550
World Wrestling Entertainment, Inc., Class A		12,820		888,554
				8,568,104
Equity Real Estate Investment Trusts (REITs) — 0.6%
SL Green Realty Corp.		113,457		5,633,140
Food Products — 1.1%
Danone SA		94,363		5,203,096
JDE Peet’s NV		161,313		4,678,464
				9,881,560
Health Care Equipment & Supplies — 3.8%
Alcon, Inc.		57,985		4,563,656
CVRx, Inc.(a)		45,948		405,721
Dentsply Sirona, Inc.		197,019		7,124,207
Koninklijke Philips NV		291,875		6,040,718
Koninklijke Philips NV, NY Shares(b)		49,739		1,031,587
Zimmer Biomet Holdings, Inc.(b)		144,495		15,950,803
				35,116,692
Health Care Providers & Services — 4.3%
AmerisourceBergen Corp.		37,830		5,520,532
Cardinal Health, Inc.		83,521		4,974,511
Cigna Corp.		57,324		15,784,736
Laboratory Corp. of America Holdings		52,685		13,813,480
				40,093,259
Hotels, Restaurants & Leisure — 0.3%
Las Vegas Sands Corp.(a)		67,937		2,560,545
Household Durables — 2.9%
Newell Brands, Inc.		555,414		11,224,917
Panasonic Holdings Corp.		1,416,300		11,693,164
Toll Brothers, Inc.		73,104		3,595,255
				26,513,336
Household Products — 0.8%
Reckitt Benckiser Group PLC		93,603		7,592,582
Insurance — 6.6%
Allstate Corp.		75,071		8,781,055
American International Group, Inc.		163,049		8,441,047
Assurant, Inc.		33,449		5,879,665
Fidelity National Financial, Inc.		279,971		11,187,641
Prudential PLC		752,150		9,277,308

1

Schedule of Investments (unaudited) (continued) July 31, 2022 BlackRock Mid-Cap Value Fund (formerly known as BlackRock Mid Cap Dividend Fund) (Percentages shown are based on Net Assets)

Security	Shares		Value
Insurance (continued)
RenaissanceRe Holdings Ltd.		48,840	$	6,315,500
Willis Towers Watson PLC		57,106		11,817,516
				61,699,732
IT Services — 4.2%
Cognizant Technology Solutions Corp., Class A		193,286		13,135,717
FleetCor Technologies, Inc.(a)		43,869		9,655,128
SS&C Technologies Holdings, Inc.		270,552		16,008,562
				38,799,407
Machinery — 2.2%
Komatsu Ltd.		704,700		16,291,516
Stanley Black & Decker, Inc.		40,115		3,904,393
				20,195,909
Media — 2.7%
Fox Corp., Class A		224,899		7,446,406
Paramount Global, Class B		378,567		8,953,110
Publicis Groupe SA		155,709		8,286,107
				24,685,623
Metals & Mining — 0.8%
Barrick Gold Corp.		468,693		7,377,228
Multiline Retail — 2.4%
Dollar General Corp.		42,828		10,639,760
Dollar Tree, Inc.(a)		69,401		11,476,149
				22,115,909
Multi-Utilities — 3.2%
Ameren Corp.		20,740		1,931,309
CenterPoint Energy, Inc.		174,190		5,520,081
NiSource, Inc.		150,529		4,576,082
Public Service Enterprise Group, Inc.		136,647		8,973,608
Sempra Energy		54,880		9,099,104
				30,100,184
Oil, Gas & Consumable Fuels — 7.2%
BP PLC, ADR		222,091		6,525,033
Diamondback Energy, Inc.		71,990		9,216,160
Enterprise Products Partners LP		756,878		20,231,349
EQT Corp.		384,201		16,916,370
Hess Corp.		126,829		14,264,458
				67,153,370
Pharmaceuticals — 2.4%
Bayer AG, Registered Shares		329,726		19,232,996
Viatris, Inc.		299,499		2,902,145
				22,135,141
Professional Services — 1.0%
Leidos Holdings, Inc.		90,260		9,657,820
Real Estate Management & Development(a) — 1.8%
CBRE Group, Inc., Class A		119,816		10,258,646
Howard Hughes Corp.		91,927		6,516,705
				16,775,351
Semiconductors & Semiconductor Equipment — 2.3%
MKS Instruments, Inc.		61,123		7,224,738
Skyworks Solutions, Inc.		60,335		6,569,275
Teradyne, Inc.		73,000		7,364,970
				21,158,983

Security	Shares		Value
Software — 0.1%
Latch, Inc.(a)		636,773	$	764,128
Specialty Retail — 1.5%
Bath & Body Works, Inc.		125,842		4,472,425
Ross Stores, Inc.		119,961		9,748,031
				14,220,456
Technology Hardware, Storage & Peripherals — 1.9%
Western Digital Corp.(a)		356,697		17,513,823
Textiles, Apparel & Luxury Goods — 2.1%
Ralph Lauren Corp.		170,608		16,827,067
Under Armour, Inc., Class A(a)		249,139		2,307,027
				19,134,094
Tobacco — 1.1%
Altria Group, Inc.		225,494		9,890,167
Wireless Telecommunication Services — 1.1%
Rogers Communications, Inc., Class B		114,583		5,266,235
Vodafone Group PLC		3,663,044		5,398,071
				10,664,306
Total Common Stocks — 93.0% (Cost: $845,699,183)				865,022,581
Warrants
Diversified Financial Services — 0.0%
GX Acquisition Corp. II (Expires 12/31/28)(a)		38,656		3,866
Total Warrants — 0.0% (Cost: $30,500)				3,866
Total Long-Term Investments — 93.0% (Cost: $845,729,683)				865,026,447
Short-Term Securities
Money Market Funds — 7.2%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.76%(c)(d)		63,396,212		63,396,212
SL Liquidity Series, LLC, Money Market Series, 2.03%(c)(d)(e)		3,592,421		3,591,702
Total Short-Term Securities — 7.2% (Cost: $66,987,914)				66,987,914
Total Investments — 100.2% (Cost: $912,717,597)				932,014,361
Liabilities in Excess of Other Assets — (0.2)%				(1,537,853	)
Net Assets — 100.0%			$	930,476,508

^(a)  Non-income producing security.

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

^(c)  Affiliate of the Fund.

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

^(e)  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.

SCHEDULE    OF   INVESTMENTS 2

Schedule of Investments (unaudited) (continued) July 31, 2022 BlackRock Mid-Cap Value Fund (formerly known as BlackRock Mid Cap Dividend Fund)

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliated Issuer	Value at 04/30/22		Purchases at Cost			Proceeds from Sales		Net Realized Gain (Loss)			Change in Unrealized Appreciation (Depreciation)		Value at 07/31/22		Shares Held at 07/31/22		Income			Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class	$	39,992,852	$	23,403,360	(a)	$	—	$	—		$	—	$	63,396,212		63,396,212	$	124,606		$	—
SL Liquidity Series, LLC, Money Market Series		—		3,591,863	(a)		—		(161	)		—		3,591,702		3,592,421		766	(b)		—
								$	(161	)	$	—	$	66,987,914			$	125,372		$	—

^(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.

Fair Value Hierarchy as of Period End

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

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

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

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

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

Certain investments of the Fund were fair valued using net asset value (“NAV”) per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

	Level 1		Level 2		Level 3		Total
Assets
Investments
Long-Term Investments
Common Stocks
Aerospace & Defense	$	14,054,924	$	28,008,612	$	—	$	42,063,536
Air Freight & Logistics		6,634,441		—		—		6,634,441
Airlines		3,795,801		—		—		3,795,801
Auto Components		16,559,065		—		—		16,559,065
Automobiles		17,341,667		—		—		17,341,667
Banks		41,331,770		—		—		41,331,770
Beverages		15,800,633		—		—		15,800,633
Biotechnology		16,204,618		—		—		16,204,618
Capital Markets		19,822,013		—		—		19,822,013
Chemicals		24,552,752		—		—		24,552,752
Communications Equipment		9,341,584		—		—		9,341,584

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Schedule of Investments (unaudited) (continued) July 31, 2022 BlackRock Mid-Cap Value Fund (formerly known as BlackRock Mid Cap Dividend Fund)

Fair Value Hierarchy as of Period End (continued)

	Level 1		Level 2		Level 3		Total
Common Stocks (continued)
Consumer Finance	$	10,602,769	$	—	$	—	$	10,602,769
Containers & Packaging		15,736,811		—		—		15,736,811
Diversified Financial Services		48,944,976		—		—		48,944,976
Electric Utilities		17,154,270		—		—		17,154,270
Electrical Equipment		—		5,456,900		—		5,456,900
Electronic Equipment, Instruments & Components		3,678,126		—		—		3,678,126
Entertainment		8,568,104		—		—		8,568,104
Equity Real Estate Investment Trusts (REITs)		5,633,140		—		—		5,633,140
Food Products		—		9,881,560		—		9,881,560
Health Care Equipment & Supplies		24,512,318		10,604,374		—		35,116,692
Health Care Providers & Services		40,093,259		—		—		40,093,259
Hotels, Restaurants & Leisure		2,560,545		—		—		2,560,545
Household Durables		14,820,172		11,693,164		—		26,513,336
Household Products		—		7,592,582		—		7,592,582
Insurance		52,422,424		9,277,308		—		61,699,732
IT Services		38,799,407		—		—		38,799,407
Machinery		3,904,393		16,291,516		—		20,195,909
Media		16,399,516		8,286,107		—		24,685,623
Metals & Mining		7,377,228		—		—		7,377,228
Multiline Retail		22,115,909		—		—		22,115,909
Multi-Utilities		30,100,184		—		—		30,100,184
Oil, Gas & Consumable Fuels		67,153,370		—		—		67,153,370
Pharmaceuticals		2,902,145		19,232,996		—		22,135,141
Professional Services		9,657,820		—		—		9,657,820
Real Estate Management & Development		16,775,351		—		—		16,775,351
Semiconductors & Semiconductor Equipment		21,158,983		—		—		21,158,983
Software		764,128		—		—		764,128
Specialty Retail		14,220,456		—		—		14,220,456
Technology Hardware, Storage & Peripherals		17,513,823		—		—		17,513,823
Textiles, Apparel & Luxury Goods		19,134,094		—		—		19,134,094
Tobacco		9,890,167		—		—		9,890,167
Wireless Telecommunication Services		5,266,235		5,398,071		—		10,664,306
Warrants		3,866		—		—		3,866
Short-Term Securities
Money Market Funds		63,396,212		—		—		63,396,212
	$	796,699,469	$	131,723,190	$	—		928,422,659
Investments Valued at NAV(a)								3,591,702
							$	932,014,361

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

Portfolio Abbreviation
ADR	American Depositary Receipt
ETF	Exchange-Traded Fund
S&P	Standard & Poor’s
SPDR	Standard & Poor’s Depository Receipt

SCHEDULE    OF   INVESTMENTS 4