UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549



FORM N-PX



ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT

INVESTMENT COMPANY



Investment Company Act file number 811-07332



Name of Fund: BlackRock Funds III

BlackRock Bond Index Fund

BlackRock S&P 500 Stock Fund

LifePath[R] Retirement Portfolio

LifePath 2020 Portfolio[R]

LifePath[R] 2025 Portfolio

LifePath 2030 Portfolio[R]

LifePath[R] 2035 Portfolio

LifePath 2040 Portfolio[R]



LifePath[R] 2045 Portfolio

LifePath[R] 2050 Portfolio

LifePath[R] 2055 Portfolio

BlackRock Cash Funds: Institutional

BlackRock Cash Funds: Prime

BlackRock Cash Funds: Government

BlackRock Cash Funds: Treasury



Fund Address: 400 Howard Street, San Francisco, CA 94105



Name and address of agent for service: Anne Ackerley, Chief Executive Officer,

BlackRock Funds III, 55 East 52(nd)

Street, New York City, NY 10055.



Registrant's telephone number, including area code: (800) 537-4942



Date of fiscal year end: 12/31



Date of reporting period: 07/01/2009 -- 06/30/2010



Item 1 -- Proxy Voting Record -- Attached hereto.



Pursuant to the requirements of the Investment Company Act of 1940, the

registrant has duly caused this report to be

signed on its behalf by the undersigned, thereunto duly authorized.



BlackRock Funds III



By: /s/ Anne Ackerley

Anne Ackerley

Chief Executive Officer of

BlackRock Funds III



Date: August 23, 2010




******************************* FORM N-Px REPORT *******************************

ICA File Number: 811-07332
Reporting Period: 07/01/2009 - 06/30/2010
BlackRock Funds III









========================== BLACKROCK BOND INDEX FUND ===========================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT




======================= BLACKROCK CASH FUNDS: GOVERNMENT =======================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT




===================== BLACKROCK CASH FUNDS: INSTITUTIONAL ======================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT




========================= BLACKROCK CASH FUNDS: PRIME ==========================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT




======================== BLACKROCK CASH FUNDS: TREASURY ========================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT




========================= BLACKROCK S&P 500 STOCK FUND =========================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT




=========================== LIFEPATH 2010 PORTFOLIO ============================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT




=========================== LIFEPATH 2020 PORTFOLIO ============================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT




=========================== LIFEPATH 2025 PORTFOLIO ============================

There is no proxy voting activity for the fund, as the fund did not hold any
votable positions during the reporting period.



=========================== LIFEPATH 2030 PORTFOLIO ============================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT




=========================== LIFEPATH 2035 PORTFOLIO ============================

There is no proxy voting activity for the fund, as the fund did not hold any
votable positions during the reporting period.



=========================== LIFEPATH 2040 PORTFOLIO ============================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT




=========================== LIFEPATH 2045 PORTFOLIO ============================

There is no proxy voting activity for the fund, as the fund did not hold any
votable positions during the reporting period.



=========================== LIFEPATH 2050 PORTFOLIO ============================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT




=========================== LIFEPATH 2055 PORTFOLIO ============================

There is no proxy voting activity for the fund, as the fund did not hold any
votable positions during the reporting period.



======================== LIFEPATH RETIREMENT PORTFOLIO =========================


MASTER INVESTMENT PORTFOLIO

Ticker:                      Security ID:  N/A
Meeting Date: NOV 20, 2009   Meeting Type: Special
Record Date:  SEP 30, 2009

#     Proposal                                Mgt Rec   Vote Cast    Sponsor
01.1  TRUSTEE - DR. MATINA S. HORNER          For       For          Management
01.2  TRUSTEE - CYNTHIA A MONTGOMERY          For       For          Management
01.3  TRUSTEE - DAVID O. BEIM                 For       For          Management
01.4  TRUSTEE - RICHARD S. DAVIS              For       For          Management
01.5  TRUSTEE - RONALD W. FORBES              For       For          Management
01.6  TRUSTEE - HENRY GABBAY                  For       For          Management
01.7  TRUSTEE - RODNEY D. JOHNSON             For       For          Management
01.8  TRUSTEE - HERBERT I. LONDON             For       For          Management
01.9  TRUSTEE - JOSEPH P. PLATT               For       For          Management
01.10 TRUSTEE - ROBERT C. ROBB, JR.           For       For          Management
01.11 TRUSTEE - TOBY ROSENBLATT               For       For          Management
01.12 TRUSTEE - KENNETH L. URISH              For       For          Management
01.13 TRUSTEE - FREDERICK W. WINTER           For       For          Management
02    APPROVAL OF INVESTMENT ADVISORY         For       For          Management
      AGREEMENT

========== END NPX REPORT