Blackrock Mid Cap Dividend Series NPORT-P BlackRock Mid-Cap Value Fund (Jan 2024 report)

Schedule of Investments (unaudited) January 31, 2024 BlackRock Mid-Cap Value Fund (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks
Aerospace & Defense — 3.2%
Huntington Ingalls Industries, Inc.		13,260	$	3,433,279
L3Harris Technologies, Inc.		122,609		25,554,168
MTU Aero Engines AG, Class N		34,870		8,017,665
				37,005,112
Automobile Components — 2.2%
Aptiv PLC(a)		103,830		8,444,494
Goodyear Tire & Rubber Co.(a)		541,330		7,546,140
Lear Corp.		69,629		9,253,694
				25,244,328
Automobiles — 2.2%
General Motors Co.		655,981		25,452,063
Banks — 4.3%
Citigroup, Inc.		200,260		11,248,604
Citizens Financial Group, Inc.		204,650		6,692,055
First Citizens BancShares, Inc., Class A		15,591		23,542,410
Wells Fargo & Co.		165,590		8,309,306
				49,792,375
Beverages — 0.9%
Constellation Brands, Inc., Class A		21,592		5,291,767
Keurig Dr. Pepper, Inc.		178,158		5,601,288
				10,893,055
Biotechnology — 1.0%
SPDR S&P Biotech ETF(b)		136,775		11,958,238
Building Products — 1.1%
Allegion PLC.		98,230		12,169,715
Capital Markets — 2.7%
Carlyle Group, Inc.		227,103		9,088,662
LPL Financial Holdings, Inc.		13,020		3,114,254
Onex Corp.		44,990		3,321,921
Raymond James Financial, Inc.		145,827		16,067,219
				31,592,056
Chemicals — 2.0%
Axalta Coating Systems Ltd.(a)		198,269		6,427,881
FMC Corp.		104,180		5,854,916
International Flavors & Fragrances, Inc.		137,130		11,063,648
				23,346,445
Consumer Staples Distribution & Retail — 2.1%
Dollar General Corp.		80,160		10,586,731
Dollar Tree, Inc.(a)		103,046		13,459,869
				24,046,600
Containers & Packaging — 3.0%
Crown Holdings, Inc.		135,130		11,959,005
Sealed Air Corp.		668,712		23,104,000
				35,063,005
Electric Utilities — 4.4%
American Electric Power Co., Inc.		181,716		14,199,289
Edison International		98,717		6,661,423
Entergy Corp.		116,530		11,625,033
Exelon Corp.		263,780		9,182,182
PG&E Corp.		564,200		9,518,054
				51,185,981
Electrical Equipment — 0.5%
Acuity Brands, Inc.		24,310		5,789,670

Security	Shares		Value
Electronic Equipment, Instruments & Components — 3.0%
Avnet, Inc.		230,770	$	10,453,881
Flex Ltd.(a)		502,952		11,940,080
Zebra Technologies Corp., Class A(a)(b)		50,914		12,196,449
				34,590,410
Entertainment — 0.7%
Warner Bros Discovery, Inc., Series A(a)(b)		792,540		7,941,251
Financial Services — 5.5%
Cannae Holdings, Inc.(a)		753,385		15,256,047
Equitable Holdings, Inc.		437,387		14,298,181
Fidelity National Information Services, Inc.		379,004		23,596,789
NCR Atleos Corp.(a)		146,975		3,290,770
SPDR S&P Software & Services ETF		46,800		6,918,912
				63,360,699
Food Products — 2.3%
Kraft Heinz Co.		706,080		26,216,750
Health Care Equipment & Supplies — 3.1%
Baxter International, Inc.		592,350		22,918,021
Koninklijke Philips NV(a)		629,522		13,317,889
				36,235,910
Health Care Providers & Services — 5.6%
Cardinal Health, Inc.		200,047		21,843,132
Cencora, Inc.		52,579		12,234,082
Fulgent Genetics, Inc.(a)		90,040		2,214,084
Humana, Inc.		24,300		9,186,858
Laboratory Corp. of America Holdings		87,001		19,340,322
				64,818,478
Hotels, Restaurants & Leisure — 0.6%
Las Vegas Sands Corp.		134,283		6,569,124
Household Durables — 1.1%
Newell Brands, Inc.		604,631		5,030,530
Panasonic Holdings Corp.		757,000		7,130,014
				12,160,544
Insurance — 4.7%
American International Group, Inc.		184,929		12,854,415
Assurant, Inc.		31,815		5,343,329
Fidelity National Financial, Inc., Class A		287,689		14,393,080
Prudential PLC.		830,940		8,535,887
Willis Towers Watson PLC		51,516		12,688,391
				53,815,102
IT Services — 2.4%
Cognizant Technology Solutions Corp., Class A		280,972		21,668,561
DXC Technology Co.(a)		254,280		5,543,304
				27,211,865
Leisure Products — 1.8%
Hasbro, Inc.		260,133		12,733,511
Mattel, Inc.(a)		474,570		8,490,057
				21,223,568
Life Sciences Tools & Services(a) — 1.6%
Avantor, Inc.		369,660		8,498,483
Fortrea Holdings, Inc.		307,781		9,528,900
				18,027,383
Machinery — 3.5%
CNH Industrial NV		705,511		8,466,132
Fortive Corp.		67,070		5,243,533

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Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Mid-Cap Value Fund (Percentages shown are based on Net Assets)

Security	Shares		Value
Machinery (continued)
Komatsu Ltd.		425,700	$	12,111,144
Westinghouse Air Brake Technologies Corp.		112,420		14,791,099
				40,611,908
Media — 1.2%
Fox Corp., Class A		320,611		10,355,735
Interpublic Group of Cos., Inc.		91,400		3,015,286
				13,371,021
Metals & Mining — 1.0%
Alcoa Corp.		190,946		5,680,643
Barrick Gold Corp.		391,415		6,106,074
				11,786,717
Multi-Utilities — 1.8%
Public Service Enterprise Group, Inc.		174,325		10,109,107
Sempra		153,316		10,971,293
				21,080,400
Oil, Gas & Consumable Fuels — 5.5%
BP PLC, ADR		218,879		7,682,653
Enterprise Products Partners LP		541,050		14,478,498
Kosmos Energy Ltd.(a)		2,794,110		16,932,306
Suncor Energy, Inc.		557,834		18,475,462
Woodside Energy Group Ltd., ADR		293,760		6,133,709
				63,702,628
Pharmaceuticals — 1.3%
Bayer AG, Registered Shares, Class N		284,429		8,850,467
Catalent, Inc.(a)		112,375		5,803,045
				14,653,512
Professional Services — 5.9%
Dun & Bradstreet Holdings, Inc.		1,259,815		14,601,256
Leidos Holdings, Inc.		265,131		29,289,022
SS&C Technologies Holdings, Inc.		387,506		23,645,616
				67,535,894
Residential REITs — 0.8%
Mid-America Apartment Communities, Inc.		69,690		8,807,422
Software — 0.4%
NCR Voyix Corp.(a)		293,920		4,320,624
Specialized REITs — 1.6%
American Tower Corp.		31,420		6,147,323
Crown Castle, Inc.		115,680		12,522,360
				18,669,683
Specialty Retail — 1.1%
Advance Auto Parts, Inc.		97,650		6,527,902
Ross Stores, Inc.		43,709		6,131,499
				12,659,401
Technology Hardware, Storage & Peripherals — 2.4%
HP, Inc.		253,280		7,271,669
Western Digital Corp.(a)		355,330		20,342,642
				27,614,311
Textiles, Apparel & Luxury Goods — 3.9%
Gildan Activewear, Inc., Class A		273,325		9,022,458

Security	Shares		Value
Textiles, Apparel & Luxury Goods (continued)
Ralph Lauren Corp., Class A		69,530	$	9,989,375
Swatch Group AG		31,399		7,371,193
Tapestry, Inc.		237,352		9,206,884
Under Armour, Inc., Class A(a)		843,450		6,427,089
VF Corp.		177,160		2,916,054
				44,933,053
Tobacco — 1.5%
British American Tobacco PLC, ADR		583,308		17,265,917
Trading Companies & Distributors — 0.2%
MSC Industrial Direct Co., Inc., Class A		26,290		2,594,297
Wireless Telecommunication Services — 1.1%
Telephone and Data Systems, Inc.		307,330		5,903,809
Vodafone Group PLC		7,572,629		6,437,799
				12,341,608
Total Common Stocks — 95.2% (Cost: $1,011,361,136)				1,097,658,123
Preferred Securities
Preferred Stocks — 0.7%
Household Products — 0.7%
Henkel AG & Co. KGaA, Preference Shares		107,340		8,228,526
				8,228,526
Total Preferred Securities — 0.7% (Cost: $8,323,013)				8,228,526
Total Long-Term Investments — 95.9% (Cost: $1,019,684,149)				1,105,886,649
Short-Term Securities
Money Market Funds — 6.3%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 5.21%(c)(d)		59,361,763		59,361,763
SL Liquidity Series, LLC, Money Market Series, 5.50%(c)(d)(e)		13,283,561		13,288,875
Total Short-Term Securities — 6.3% (Cost: $72,647,249)				72,650,638
Total Investments — 102.2% (Cost: $1,092,331,398)				1,178,537,287
Liabilities in Excess of Other Assets — (2.2)%				(25,523,049	)
Net Assets — 100.0%			$	1,153,014,238

^(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.

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Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Mid-Cap Value 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 04/30/23		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 Liquidity Funds, T-Fund, Institutional Class .	$	64,206,031	$	—	$	(4,844,268	)(a)	$	—		$	—	$	59,361,763		59,361,763	$	2,047,352		$	—
SL Liquidity Series, LLC, Money Market Series		14,070,058		—		(782,827	)(a)		(1,320	)		2,964		13,288,875		13,283,561		144,701	(b)		—
								$	(1,320	)	$	2,964	$	72,650,638			$	2,192,053		$	—

^(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 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.

Certain investments of the Fund were fair valued using net asset value (“NAV”) as a practical expedient 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	$	28,987,447	$	8,017,665	$	—	$	37,005,112
Automobile Components		25,244,328		—		—		25,244,328
Automobiles		25,452,063		—		—		25,452,063
Banks		49,792,375		—		—		49,792,375
Beverages		10,893,055		—		—		10,893,055
Biotechnology		11,958,238		—		—		11,958,238
Building Products		12,169,715		—		—		12,169,715
Capital Markets		31,592,056		—		—		31,592,056
Chemicals		23,346,445		—		—		23,346,445
Consumer Staples Distribution & Retail		24,046,600		—		—		24,046,600
Containers & Packaging		35,063,005		—		—		35,063,005
Electric Utilities		51,185,981		—		—		51,185,981

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Schedule of Investments (unaudited) (continued) January 31, 2024 BlackRock Mid-Cap Value Fund

Fair Value Hierarchy as of Period End (continued)

	Level 1		Level 2		Level 3		Total
Common Stocks (continued)
Electrical Equipment	$	5,789,670	$	—	$	—	$	5,789,670
Electronic Equipment, Instruments & Components		34,590,410		—		—		34,590,410
Entertainment		7,941,251		—		—		7,941,251
Financial Services		63,360,699		—		—		63,360,699
Food Products		26,216,750		—		—		26,216,750
Health Care Equipment & Supplies		22,918,021		13,317,889		—		36,235,910
Health Care Providers & Services		64,818,478		—		—		64,818,478
Hotels, Restaurants & Leisure		6,569,124		—		—		6,569,124
Household Durables		5,030,530		7,130,014		—		12,160,544
Insurance		45,279,215		8,535,887		—		53,815,102
IT Services		27,211,865		—		—		27,211,865
Leisure Products		21,223,568		—		—		21,223,568
Life Sciences Tools & Services		18,027,383		—		—		18,027,383
Machinery		28,500,764		12,111,144		—		40,611,908
Media		13,371,021		—		—		13,371,021
Metals & Mining		11,786,717		—		—		11,786,717
Multi-Utilities		21,080,400		—		—		21,080,400
Oil, Gas & Consumable Fuels		63,702,628		—		—		63,702,628
Pharmaceuticals		5,803,045		8,850,467		—		14,653,512
Professional Services		67,535,894		—		—		67,535,894
Residential REITs		8,807,422		—		—		8,807,422
Software		4,320,624		—		—		4,320,624
Specialized REITs		18,669,683		—		—		18,669,683
Specialty Retail		12,659,401		—		—		12,659,401
Technology Hardware, Storage & Peripherals		27,614,311		—		—		27,614,311
Textiles, Apparel & Luxury Goods		37,561,860		7,371,193		—		44,933,053
Tobacco		17,265,917		—		—		17,265,917
Trading Companies & Distributors		2,594,297		—		—		2,594,297
Wireless Telecommunication Services		5,903,809		6,437,799		—		12,341,608
Preferred Securities
Preferred Stocks		—		8,228,526		—		8,228,526
Short-Term Securities
Money Market Funds		59,361,763		—		—		59,361,763
	$	1,085,247,828	$	80,000,584	$	—		1,165,248,412
Investments Valued at NAV(a)								13,288,875
							$	1,178,537,287

^(a)  Certain investments of the Fund were fair valued using NAV as a practical expedient 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

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