# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001752724-23-071881
**Filing Date:** 2023-3
**Character Count:** 663016
**Document Hash:** 8cc34713c6135c702bdc69cda08efd9b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-071881.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-071881

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK FUNDS
- **CENTRAL INDEX KEY:** 0000844779
- **IRS NUMBER:** 510318674
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05742
- **FILM NUMBER:** 23774022

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COMPASS CAPITAL FUNDS\
- **DATE OF NAME CHANGE:** 19961114

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PNC FUND
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NCP FUNDS
- **DATE OF NAME CHANGE:** 19890511

## Series and Classes Contracts Data

### BlackRock Global Equity Market Neutral Fund (Series ID: S000039460)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000121567 | Institutional Shares |  |
| C000121568 | Investor A Shares    |  |
| C000121569 | Investor C Shares    |  |
| C000166017 | Class K              |  |

## Nport-Ex

---

| | |
|:---|:---|
| Schedule of Investments (unaudited)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund**<br> **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares* | *Value* |
|  **Common Stocks** |  |  |
|  **Netherlands — 0.0%** |  |  |
|  Climate Transition Capital Acquisition I BV<sup>(a)</sup>  | 40590 | $433949 |
|  **United States — 0.0%** |  |  |
|  Palantir Technologies, Inc., Class A<sup>(a)</sup>  | 4 | 31 |
|  **Total Common Stocks — 0.0%<br>(Cost: $481,381)** |  | 433980 |
|  **Preferred Securities** |  |  |
|  **Preferred Stocks — 0.5%<sup>(b)</sup>**  |  |  |
|  **United States — 0.5%** |  |  |
|  AliphCom, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 6, (Acquired 12/15/15, Cost: $—)<sup>(c)</sup>  | 8264 |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Series 8, | 823530 | 8 |
|  Illumio, Inc., Series C, (Acquired 03/10/15, Cost: $1,500,001)<sup>(c)</sup>  | 466730 | 3159762 |
|  |  | 3159770 |
|  **Total Preferred Securities — 0.5%<br>(Cost: $3,250,010)** |  | 3159770 |
|  **Warrants** |  |  |
|  **Netherlands — 0.0%** |  |  |
|  Climate Transition Capital Acquisition I BV, (Issued 06/29/21, Exercisable 06/29/22, 1 Share for 1 Warrant, Expires 06/29/26, Strike Price EUR 11.50)<sup>(a)</sup>  | 13530 | 736 |
|  **Total Warrants — 0.0%<br>(Cost: $—)** |  | 736 |
|  **Total Long-Term Investments — 0.5%<br>(Cost: $3,731,391)** |  | 3594486 |
|  **Short-Term Securities** |  |  |
|  **Money Market Funds — 1.9%** |  |  |
|  BlackRock Liquidity Funds, T-Fund, Institutional Class, 4.07%<sup>(d)(e)</sup>  | 12636000 | 12636000 |
|  | *Par*<br> *(000)* |  |
| **U.S. Treasury Obligations — 94.4%** |  |  |
|  U.S. Treasury Bills<sup>(f)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 02/02/23 | $34000 | 33996230 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.79%, 02/07/23 | 15000 | 14989625 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.99%, 02/07/23 | 4000 | 3997233 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.17%, 02/07/23 | 43530 | 43499892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.19%, 02/07/23 | 13575 | 13565611 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 02/07/23 | 20000 | 19986167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.04%, 02/14/23 | 4000 | 3993807 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.09%, 02/14/23 | 25000 | 24961293 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.07%, 02/21/23 | 66000 | 65837979 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Par*<br> *(000)* | *Par*<br> *(000)* | *Value* |
|  **U.S. Treasury Obligations (continued)** |  |  |  |
|  U.S. Treasury Bills<sup>(f)</sup> (continued) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.56%, 02/21/23 | $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41000 | $40899351 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.17%, 02/23/23 |  | 2165 | 2159109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 02/23/23 |  | 22000 | 21940139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 02/28/23 |  | 18000 | 17939992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.14%, 03/02/23 |  | 12000 | 11957297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/07/23<sup>(g)</sup>  |  | 18390 | 18311688 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.53%, 03/07/23 - 04/11/23<sup>(g)</sup>  |  | 55000 | 54680133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.62%, 03/21/23 - 11/30/23 |  | 92135 | 91495648 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 04/13/23 |  | 31000 | 30723423 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 04/18/23 |  | 4040 | 4001460 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 05/04/23<sup>(g)</sup>  |  | 54000 | 53370892 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2.18%, 05/18/23 |  | 2080 | 2052348 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/23/23 |  | 8000 | 7886842 |
|  U.S. Treasury Floating Rate Notes<sup>(h)</sup>  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 mo.Treasury money market yield + 0.03%), 4.66%, 07/31/23 |  | 7190 | 7190983 |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 mo.Treasury money market yield - 0.02%), 4.61%, 01/31/24 |  | 3395 | 3394797 |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 mo.Treasury money market yield - 0.08%), 4.55%, 04/30/24 |  | 4885 | 4878691 |
| &nbsp;&nbsp;&nbsp;&nbsp; (3 mo.Treasury money market yield + 0.14%), 4.78%, 10/31/24 |  | 25800 | 25808257 |
|  U.S. Treasury Notes |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1.38%, 02/15/23 |  | 4515 | 4509504 |
| &nbsp;&nbsp;&nbsp;&nbsp; 0.13%, 02/28/23 - 04/30/23 |  | 14245 | 14178771 |
|  |  |  | 642207162 |
| **Total Short-Term Securities — 96.3%<br> (Cost: $654,913,532)** |  |  | 654843162 |
| **Options Purchased — 0.2%<br> (Cost: $1,042,639)** |  |  | 1037750 |
| **Total Investments Before Options Written — 97.0%<br> (Cost: $659,687,562)** | **Total Investments Before Options Written — 97.0%<br> (Cost: $659,687,562)** | **Total Investments Before Options Written — 97.0%<br> (Cost: $659,687,562)** | 659475398 |
| **Options Written — (0.0)%<br> (Premiums Received: $(163457))** |  |  | (129500) |
| **Total Investments, Net of Options Written — 97.0%<br> (Cost: $659,524,105)** | **Total Investments, Net of Options Written — 97.0%<br> (Cost: $659,524,105)** | **Total Investments, Net of Options Written — 97.0%<br> (Cost: $659,524,105)** | 659345898 |
|  **Other Assets Less Liabilities — 3.0%** |  |  | 20621369 |
|  **Net Assets — 100.0%** |  |  | $679967267 |

---

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

<sup>(c)</sup> Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $3,159,762, representing 0.5% of its net assets as of period end, and an original cost of $1,500,001. 

<sup>(d)</sup> Affiliate of the Fund.

<sup>(e)</sup> Annualized 7-day yield as of period end.

<sup>(f)</sup> Rates are discount rates or a range of discount rates as of period end.

<sup>(g)</sup> When-issued security.

<sup>(h)</sup> 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.

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

**Affiliates** 

Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at<br>04/30/22* | *Purchases<br>at Cost* | *Net*<br> *Realized*<br> *Gain (Loss)* | *Value at<br>01/31/23* | *Shares<br>Held at<br>01/31/23* | *Income* | *Capital Gain<br>Distributions<br>from<br>Underlying<br>Funds* |
|  BlackRock Liquidity Funds, T-Fund, Institutional Class | $36355831 | $– $(23719831)<sup>(a)</sup> | $– $– $| 12636000 | 12636000 | $395555 | $— |

---

<sup>(a)</sup> Represents net amount purchased (sold). 

**Derivative Financial Instruments Outstanding as of Period End** 

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of<br>Contracts* | *Expiration<br>Date* | *Notional*<br> *Amount (000)* | *Value/<br>Unrealized<br>Appreciation<br>(Depreciation)* |
|  Long Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P 500 E-Mini Index | 32 | 03/17/23 | $6544 | $91664 |

---

**Exchange-Traded Options Purchased** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of<br>Contracts* | *Expiration<br>Date* | *Exercise Price* | *Notional<br>Amount (000)* | *Value* |
|  Call |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P 500 Index | 350 | 02/03/23 | USD 4,100.00 | USD 144,777 | $1037750 |

---

**Exchange-Traded Options Written** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of<br>Contracts* | *Expiration<br>Date* | *Exercise Price* | *Notional*<br> *Amount (000)* | *Notional*<br> *Amount (000)* | *Value* |
|  Call |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; S&P 500 Index | 350 | 02/03/23 | USD 4,200.00 | USD | 144777 | $(129500) |

---

**OTC Total Return Swaps** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Entity* | *Payment<br>Frequency* | *Counterparty<sup>(a)</sup>* | *Termination*<br> *Date* | *Net Notional* | *Accrued<br>Unrealized<br>Appreciation<br>(Depreciation)* | *Net Value of<br>Reference<br>Entity* | *Gross<br>Notional<br>Amount<br>Net Asset<br>Percentage* |
|  Equity Securities Long/Short | At Termination | Bank of America N.A.<sup>(b)</sup> | 02/15/23 – 03/15/24 | $(7568585) | $6736182 <sup>(c)</sup> | $739418 | 42.7% |
|  | At Termination | Bank of America N.A.<sup>(d)</sup> | 02/15/23 – 03/15/24 | (8155049) | 6151889 <sup>(e)</sup> | 1546231 | 97.6 |
|  | At Termination | BNP Paribas SA<sup>(f)</sup> | 01/08/24 – 12/16/25 | (15274493) | 13868192 <sup>(g)</sup> | 1123018 | 153.8 |
|  | At Termination | Goldman Sachs & Co.<sup>(h)</sup> | 02/27/23 – 02/28/23 | (10451201) | 10930962 <sup>(i)</sup> | 730406 | 61.8 |
|  | At Termination | Goldman Sachs & Co.<sup>(j)</sup> | 02/27/23 – 08/19/26 | (16186303) | 16061263 <sup>(k)</sup> | 2231365 | 167.0 |
|  | At Termination | UBS AG<sup>(l)</sup> | 07/05/23 – 10/03/23 | (8742061) | 6183728 <sup>(m)</sup> | 2535290 | 114.1 |
|  |  |  |  |  | $59932216 | $8905728 |  |

---

<sup>(a)</sup> The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specified benchmark. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. 

---

| | |
|:---|:---|
| (<sup>c)</sup> | Amount includes $(1571821) of net dividends and financing fees.  |

---

<sup>(e)</sup> Amount includes $(3549391) of net dividends and financing fees. 

<sup>(g)</sup> Amount includes $(2529319) of net dividends and financing fees. 

<sup>(i)</sup> Amount includes $(250645) of net dividends and financing fees. 

<sup>(k)</sup> Amount includes $(2356405) of net dividends and financing fees. 

<sup>(m)</sup> Amount includes $(5093623) of net dividends and financing fees. 

The following are the specified benchmarks (plus or minus a range) used in determining the variable rate of interest:

S C H E D U L E O F I N V E S T M E N T S 2

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

**OTC Total Return Swaps (continued)** 

---

| |
|:---|
| (b)<br>(d)<br>(f) |
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3.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with Bank of America N.A. as of period end, termination dates on February 15, 2023 and March 15, 2024:

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Reference Entity — Long** |  |  |  |
| **Common Stocks** |  |  |  |
|  **Australia** |  |  |  |
|  Abacus Property Group | 25378 | $50288 | 6.8% |
|  Accent Group Ltd. | 34532 | 53700 | 7.3 |
|  AP Eagers Ltd. | 964 | 7840 | 1.1 |
|  Arena REIT | 5865 | 15559 | 2.1 |
|  Australian Ethical Investment Ltd. | 56549 | 176886 | 23.9 |
|  Charter Hall Retail REIT | 110339 | 313341 | 42.4 |
|  Charter Hall Social Infrastructure REIT | 89779 | 221540 | 30.0 |
|  Clinuvel Pharmaceuticals Ltd. | 7831 | 140379 | 19.0 |
|  Coronado Global Resources, Inc., CDI | 62095 | 89969 | 12.2 |
|  Credit Corp. Group Ltd. | 16998 | 262488 | 35.5 |
|  Growthpoint Properties Australia Ltd. | 120216 | 277676 | 37.6 |
|  Imdex Ltd. | 122844 | 218131 | 29.5 |
|  Johns Lyng Group Ltd. | 2263 | 9432 | 1.3 |
|  Jumbo Interactive Ltd. | 24304 | 269204 | 36.4 |
|  Lovisa Holdings Ltd. | 12498 | 234758 | 31.7 |
|  Monadelphous Group Ltd. | 6478 | 63848 | 8.6 |
|  Nanosonics Ltd. | 73607 | 254032 | 34.4 |
|  Netwealth Group Ltd. | 18858 | 179854 | 24.3 |
|  Nick Scali Ltd. | 32791 | 278903 | 37.7 |
|  Nine Entertainment Co. Holdings Ltd. | 6490 | 9390 | 1.3 |
|  Objective Corp. Ltd. | 8957 | 88316 | 11.9 |
|  oOh!media Ltd. | 71376 | 72676 | 9.8 |
|  Perenti Global Ltd. | 314543 | 279476 | 37.8 |
|  Pinnacle Investment Management Group Ltd. | 39000 | 290555 | 39.3 |
|  PWR Holdings Ltd. | 5134 | 44836 | 6.1 |
|  SolGold PLC | 50038 | 9996 | 1.3 |
|  Technology One Ltd. | 16368 | 169235 | 22.9 |
|  Viva Energy Group Ltd. | 150716 | 311594 | 42.1 |
|  Waypoint REIT Ltd. | 84367 | 166587 | 22.5 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4560489 |  |
| **Austria** |  |  |  |
|  AT&S Austria Technologie & Systemtechnik AG | 3062 | 105062 | 14.2 |
|  IMMOFINANZ AG | 1015 | 13675 | 1.8 |
|  Palfinger AG | 2064 | 62507 | 8.5 |
|  Porr AG | 976 | 14027 | 1.9 |
|  Schoeller-Bleckmann Oilfield Equipment AG | 1027 | 75334 | 10.2 |
|  Strabag SE | 526 | 22227 | 3.0 |
|  UNIQA Insurance Group AG | 7272 | 61153 | 8.3 |
|  Vienna Insurance Group AG Wiener Versicherung Gruppe | 15757 | 428817 | 58.0 |
|  |  | 782802 |  |
| **Belgium** |  |  |  |
|  Barco NV | 4145 | 104925 | 14.2 |
|  Econocom Group SA | 5297 | 16412 | 2.2 |
|  Euronav NV | 11661 | 183625 | 24.8 |
|  Exmar NV | 6370 | 53532 | 7.3 |
|  Ion Beam Applications | 1813 | 32679 | 4.4 |
|  Melexis NV | 7559 | 805218 | 108.9 |
|  Montea NV | 652 | 52326 | 7.1 |
|  |  | 1248717 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Bermuda** |  |  |  |
|  Argo Group International Holdings Ltd. | 10845 | $301057 | 40.7% |
|  Hafnia Ltd. | 8758 | 46053 | 6.2 |
|  Helen of Troy Ltd. | 1762 | 199300 | 27 |
|  |  | 546410 |  |
| **Canada** |  |  |  |
|  Aecon Group, Inc. | 41619 | 350644 | 47.4 |
|  Altius Minerals Corp. | 25716 | 432159 | 58.4 |
|  Boardwalk Real Estate Investment Trust | 3319 | 140238 | 19 |
|  BSR Real Estate Investment Trust | 4642 | 68469 | 9.3 |
|  Canaccord Genuity Group, Inc. | 11573 | 100113 | 13.5 |
|  Canada Goose Holdings, Inc. | 23012 | 556556 | 75.3 |
|  Cargojet, Inc. | 231 | 21420 | 2.9 |
|  Centerra Gold, Inc. | 35779 | 229644 | 31.1 |
|  Dundee Precious Metals, Inc. | 3161 | 20645 | 2.8 |
|  ECN Capital Corp. | 21769 | 47774 | 6.5 |
|  Eldorado Gold Corp. | 61954 | 593209 | 80.2 |
|  Enghouse Systems Ltd. | 1872 | 55616 | 7.5 |
|  EQB, Inc. | 6203 | 307411 | 41.6 |
|  Evertz Technologies Ltd. | 7733 | 72532 | 9.8 |
|  Fortuna Silver Mines, Inc. | 57189 | 220925 | 29.9 |
|  Hudbay Minerals, Inc. | 73080 | 424568 | 57.4 |
|  IAMGOLD Corp. | 10036 | 28210 | 3.8 |
|  IMAX Corp. | 4067 | 69139 | 9.4 |
|  Interfor Corp. | 3606 | 72117 | 9.8 |
|  Kelt Exploration Ltd. | 21495 | 73828 | 10 |
|  Knight Therapeutics, Inc. | 4409 | 16966 | 2.3 |
|  Laurentian Bank of Canada | 6413 | 172405 | 23.3 |
|  Lundin Gold, Inc. | 5784 | 66945 | 9.1 |
|  Novagold Resources, Inc. | 56842 | 358854 | 48.5 |
|  Pason Systems Inc. | 10221 | 121219 | 16.4 |
|  PrairieSky Royalty Ltd. | 13710 | 235550 | 31.9 |
|  Precision Drilling Corp. | 4898 | 390426 | 52.8 |
|  Richelieu Hardware Ltd. | 11298 | 335998 | 45.4 |
|  Russel Metals, Inc. | 7088 | 172652 | 23.3 |
|  Sandstorm Gold Ltd. | 7575 | 43951 | 5.9 |
|  Savaria Corp. | 1945 | 21766 | 2.9 |
|  Secure Energy Services, Inc. | 36267 | 220783 | 29.9 |
|  Silvercorp Metals, Inc. | 21332 | 74230 | 10 |
|  Slate Grocery REIT, Class U | 13753 | 164864 | 22.3 |
|  Sleep Country Canada Holdings, Inc. | 11279 | 219468 | 29.7 |
|  Taseko Mines Ltd. | 53882 | 95976 | 13 |
|  Topaz Energy Corp. | 20659 | 321247 | 43.4 |
|  Torex Gold Resources, Inc. | 13364 | 183704 | 24.8 |
|  TransAlta Renewables, Inc. | 12643 | 116306 | 15.7 |
|  Westshore Terminals Investment Corp. | 2795 | 51487 | 7 |
|  |  | 7270014 |  |
| **Denmark** |  |  |  |
|  Dfds A/S | 4563 | 172004 | 23.3 |
|  H Lundbeck A/S, A Shares | 2159 | 7434 | 1 |
|  Sydbank A/S | 3577 | 163105 | 22 |
|  |  | 342543 |  |
| **Finland** |  |  |  |
|  Cargotec OYJ, Class B | 3802 | 193570 | 26.2 |
|  Citycon OYJ | 25431 | 191648 | 25.9 |
|  |  | 385218 |  |
| **France** |  |  |  |
|  Believe SA | 2838 | 34388 | 4.6 |
|  Beneteau SA | 551 | 9032 | 1.2 |

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S C H E D U L E O F I N V E S T M E N T S 4

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| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

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| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **France (continued)** |  |  |  |
|  Carmila SA | 712 | $10747 | 1.4% |
|  Cie des Alpes | 2759 | 43634 | 5.9 |
|  Cie Plastic Omnium SA | 23224 | 406453 | 55.0 |
|  Coface SA | 5124 | 71648 | 9.7 |
|  Esker SA | 526 | 87825 | 11.9 |
|  Eutelsat Communications SA | 9193 | 70302 | 9.5 |
|  Kaufman & Broad SA | 2393 | 75193 | 10.2 |
|  Korian SA | 12143 | 127149 | 17.2 |
|  Nexity SA | 5401 | 163158 | 22.1 |
|  SES-imagotag SA | 393 | 49284 | 6.7 |
|  SMCP SA | 20420 | 162069 | 21.9 |
|  Television Francaise 1 | 108797 | 870149 | 117.7 |
|  Vicat SA | 10268 | 286719 | 38.8 |
|  Vilmorin & Cie SA | 561 | 28208 | 3.8 |
|  Wavestone | 325 | 17060 | 2.3 |
|  |  | 2513018 |  |
| **Germany** |  |  |  |
|  Adesso SE | 908 | 143634 | 19.4 |
|  Atoss Software AG | 2540 | 449399 | 60.8 |
|  AURELIUS Equity Opportunities SE & Co. KGaA | 2212 | 37897 | 5.1 |
|  Bank of Georgia Group PLC | 4869 | 160273 | 21.7 |
|  Bilfinger SE | 20966 | 721862 | 97.6 |
|  Datagroup SE | 179 | 13914 | 1.9 |
|  Deutsche Pfandbriefbank AG | 63989 | 583668 | 78.9 |
|  Deutz AG | 72743 | 397628 | 53.8 |
|  Duerr AG | 4084 | 155820 | 21.1 |
|  Eckert & Ziegler Strahlen- und Medizintechnik AG | 178 | 10358 | 1.4 |
|  Elmos Semiconductor SE | 1927 | 130915 | 17.7 |
|  ElringKlinger AG | 12569 | 109400 | 14.8 |
|  flatexDEGIRO AG | 7719 | 65683 | 8.9 |
|  GFT Technologies SE | 2669 | 111440 | 15.1 |
|  Heidelberger Druckmaschinen AG | 92748 | 190659 | 25.8 |
|  Hypoport SE | 226 | 30789 | 4.1 |
|  Nagarro SE | 333 | 45619 | 6.2 |
|  Salzgitter AG | 1495 | 61013 | 8.2 |
|  Siltronic AG | 2889 | 240843 | 32.6 |
|  Stabilus SE | 1244 | 85805 | 11.6 |
|  Steico SE | 1047 | 56356 | 7.6 |
|  TAG Immobilien AG | 61509 | 526753 | 71.2 |
|  TBC Bank Group PLC | 11638 | 341480 | 46.2 |
|  Vitesco Technologies Group AG | 4136 | 286684 | 38.8 |
|  |  | 4957892 |  |
| **Hong Kong** |  |  |  |
|  Cowell e Holdings, Inc. | 5000 | 9826 | 1.3 |
|  Health & Happiness H&H International Holdings Ltd. | 126500 | 235983 | 31.9 |
|  Nissin Foods Co. Ltd. | 97000 | 83840 | 11.4 |
|  |  | 329649 |  |
| **Indonesia** |  |  |  |
|  Bumitama Agri Ltd. | 66900 | 30944 | 4.2 |
| **Ireland** |  |  |  |
|  Cimpress PLC | 1742 | 56946 | 7.7 |
|  Greencore Group PLC | 24309 | 23931 | 3.2 |
|  |  | 80877 |  |
| **Israel** |  |  |  |
|  Cellcom Israel Ltd. | 12857 | 66489 | 9.0 |
|  Delek Automotive Systems Ltd. | 2279 | 28145 | 3.8 |
|  Fiverr International Ltd. | 15273 | 566475 | 76.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Israel (continued)** |  |  |  |
|  Isras Investment Co. Ltd. | 222 | $43325 | 5.9% |
|  Kornit Digital Ltd. | 332 | 8370 | 1.1 |
|  Oil Refineries Ltd. | 215373 | 74489 | 10.1 |
|  Playtika Holding Corp. | 13542 | 142056 | 19.2 |
|  Plus500 Ltd. | 18801 | 430894 | 58.3 |
|  Taboola.com Ltd. | 16559 | 65905 | 8.9 |
|  YH Dimri Construction & Development Ltd. | 508 | 32847 | 4.4 |
|  |  | 1458995 |  |
| **Italy** |  |  |  |
|  Banca Popolare di Sondrio SpA | 3366 | 16532 | 2.2 |
|  Biesse SpA | 3671 | 59178 | 8.0 |
|  Brembo SpA | 2676 | 36126 | 4.9 |
|  Brunello Cucinelli SpA | 594 | 49475 | 6.7 |
|  Datalogic SpA | 11059 | 111286 | 15.1 |
|  El.En. SpA | 1217 | 18985 | 2.6 |
|  Iren SpA | 85663 | 155143 | 21.0 |
|  Maire Tecnimont SpA | 54316 | 209338 | 28.3 |
|  MFE-MediaForEurope NV, Class B | 38641 | 26164 | 3.5 |
|  Pharmanutra SpA | 719 | 46105 | 6.2 |
|  Piaggio & C SpA | 34120 | 128895 | 17.4 |
|  Sanlorenzo SpA/Ameglia | 3067 | 134646 | 18.2 |
|  Sesa SpA | 1159 | 157712 | 21.3 |
|  Webuild SpA | 173352 | 305670 | 41.4 |
|  Wiit SpA | 1686 | 38884 | 5.3 |
|  |  | 1494139 |  |
| **Japan** |  |  |  |
|  Aeon Delight Co. Ltd. | 6200 | 147183 | 19.9 |
|  Aichi Corp. | 10900 | 65293 | 8.8 |
|  Anicom Holdings, Inc. | 19000 | 90321 | 12.2 |
|  Arata Corp. | 2200 | 71355 | 9.7 |
|  Avex, Inc. | 16800 | 226897 | 30.7 |
|  Bell System24 Holdings, Inc. | 24100 | 277421 | 37.5 |
|  Belluna Co. Ltd. | 1500 | 8064 | 1.1 |
|  Bunka Shutter Co. Ltd. | 30300 | 271417 | 36.7 |
|  Central Glass Co. Ltd. | 5000 | 110419 | 14.9 |
|  Chudenko Corp. | 4700 | 77502 | 10.5 |
|  Chugoku Marine Paints Ltd. | 4700 | 35796 | 4.8 |
|  CKD Corp. | 600 | 9292 | 1.3 |
|  Comture Corp. | 2600 | 49992 | 6.8 |
|  Create SD Holdings Co. Ltd. | 13300 | 361889 | 48.9 |
|  Cybozu, Inc. | 1200 | 24344 | 3.3 |
|  Daihen Corp. | 5900 | 192521 | 26.0 |
|  Daiken Corp. | 11000 | 185862 | 25.1 |
|  Digital Arts, Inc. | 4300 | 192069 | 26.0 |
|  Digital Garage, Inc. | 6400 | 228751 | 30.9 |
|  Doutor Nichires Holdings Co. Ltd. | 31000 | 446154 | 60.3 |
|  DTS Corp. | 1200 | 29431 | 4.0 |
|  Eiken Chemical Co. Ltd. | 13100 | 160414 | 21.7 |
|  Eizo Corp. | 3100 | 86653 | 11.7 |
|  Elan Corp. | 28000 | 217262 | 29.4 |
|  Elecom Co. Ltd. | 29000 | 304409 | 41.2 |
|  FCC Co. Ltd. | 17400 | 193837 | 26.2 |
|  Fuji Co. Ltd./Ehime | 17600 | 251295 | 34.0 |
|  Fujimi, Inc. | 1200 | 60858 | 8.2 |
|  Fujimori Kogyo Co. Ltd. | 1500 | 38513 | 5.2 |
|  Fukuoka REIT Corp. | 193 | 248199 | 33.6 |
|  FULLCAST Holdings Co. Ltd. | 10400 | 225894 | 30.6 |
|  Fuso Chemical Co. Ltd. | 900 | 25572 | 3.5 |
|  Future Corp. | 15800 | 205745 | 27.8 |
|  Global One Real Estate Investment Corp. | 632 | 521877 | 70.6 |

---

5.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Goldcrest Co. Ltd. | 4600 | $57708 | 7.8% |
|  Gree, Inc. | 3300 | 17957 | 2.4 |
|  G-Tekt Corp. | 18200 | 216343 | 29.3 |
|  H2O Retailing Corp. | 46600 | 454778 | 61.5 |
|  Halows Co. Ltd. | 3700 | 90632 | 12.3 |
|  Heiwa Real Estate Co. Ltd. | 1300 | 37193 | 5.0 |
|  Hiday Hidaka Corp. | 8900 | 141485 | 19.1 |
|  Hitachi Zosen Corp. | 46100 | 305262 | 41.3 |
|  Ichigo Office REIT Investment Corp. | 89 | 58258 | 7.9 |
|  Ichigo, Inc. | 206100 | 472377 | 63.9 |
|  Infocom Corp. | 14400 | 242735 | 32.8 |
|  Infomart Corp. | 108600 | 351327 | 47.5 |
|  JAC Recruitment Co. Ltd. | 32300 | 587031 | 79.4 |
|  JAFCO Group Co. Ltd. | 31500 | 562121 | 76.0 |
|  Japan Petroleum Exploration Co. Ltd. | 5600 | 181533 | 24.6 |
|  JCU Corp. | 26200 | 649669 | 87.9 |
|  JINS Holdings, Inc. | 15700 | 472810 | 63.9 |
|  Kanematsu Electronics Ltd. | 3200 | 152823 | 20.7 |
|  KeePer Technical Laboratory Co. Ltd. | 6400 | 164858 | 22.3 |
|  Keihanshin Building Co. Ltd. | 3300 | 34766 | 4.7 |
|  Kintetsu Department Store Co. Ltd. | 3000 | 59382 | 8.0 |
|  Kissei Pharmaceutical Co. Ltd. | 12000 | 236408 | 32.0 |
|  Konoike Transport Co. Ltd. | 22300 | 264562 | 35.8 |
|  Koshidaka Holdings Co. Ltd. | 15200 | 110060 | 14.9 |
|  Kumiai Chemical Industry Co. Ltd. | 38900 | 263944 | 35.7 |
|  Kyokuto Kaihatsu Kogyo Co. Ltd. | 26700 | 306710 | 41.5 |
|  Life Corp. | 7000 | 152704 | 20.7 |
|  Link And Motivation, Inc. | 3000 | 15235 | 2.1 |
|  M&A Capital Partners Co. Ltd. | 3900 | 132093 | 17.9 |
|  Macnica Holdings, Inc. | 6400 | 170091 | 23.0 |
|  Maeda Kosen Co. Ltd. | 8900 | 230315 | 31.1 |
|  Makino Milling Machine Co. Ltd. | 300 | 10769 | 1.5 |
|  Mandom Corp. | 49900 | 565734 | 76.5 |
|  Maruzen Showa Unyu Co. Ltd. | 1800 | 43617 | 5.9 |
|  Megmilk Snow Brand Co. Ltd. | 5600 | 78378 | 10.6 |
|  Meidensha Corp. | 15900 | 236202 | 31.9 |
|  Meitec Corp. | 24700 | 464649 | 62.8 |
|  METAWATER Co. Ltd. | 21400 | 282463 | 38.2 |
|  Mitsubishi Pencil Co. Ltd. | 11300 | 126760 | 17.1 |
|  Mitsubishi Shokuhin Co. Ltd. | 25300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609839 | 82.5 |
|  Mixi, Inc. | 9900 | 189939 | 25.7 |
|  Mizuho Leasing Co. Ltd. | 100 | 2653 | 0.4 |
|  Mochida Pharmaceutical Co. Ltd. | 1500 | 40289 | 5.4 |
|  Monogatari Corp. | 8100 | 405853 | 54.9 |
|  Mori Trust Sogo REIT, Inc. | 183 | 206513 | 27.9 |
|  Morita Holdings Corp. | 10900 | 102019 | 13.8 |
|  MOS Food Services, Inc. | 20900 | 495723 | 67.0 |
|  Nakanishi, Inc. | 28800 | 611009 | 82.6 |
|  Nichicon Corp. | 7200 | 70731 | 9.6 |
|  Nippon Ceramic Co. Ltd. | 7800 | 145386 | 19.7 |
|  Nippon Light Metal Holdings Co. Ltd. | 3100 | 35532 | 4.8 |
|  Nippon Paper Industries Co. Ltd. | 43400 | 323115 | 43.7 |
|  NIPPON REIT Investment Corp. | 127 | 323405 | 43.7 |
|  Nippon Road Co. Ltd. | 3300 | 157524 | 21.3 |
|  Nippon Seiki Co. Ltd. | 1500 | 9670 | 1.3 |
|  Nishimatsu Construction Co. Ltd. | 800 | 24991 | 3.4 |
|  Nishi-Nippon Financial Holdings, Inc. | 22100 | 183949 | 24.9 |
|  Nissan Shatai Co. Ltd. | 40000 | 277931 | 37.6 |
|  Nisshinbo Holdings, Inc. | 3700 | 27657 | 3.7 |
|  Nissin Electric Co. Ltd. | 7000 | 72577 | 9.8 |
|  Nissui Corp. | 37800 | 157068 | 21.2 |
|  Nittetsu Mining Co. Ltd. | 1500 | 41771 | 5.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Nitto Boseki Co. Ltd. | 4800 | $75694 | 10.2% |
|  Nohmi Bosai Ltd. | 7300 | 96797 | 13.1 |
|  Nomura Co. Ltd. | 25500 | 183475 | 24.8 |
|  Noritsu Koki Co. Ltd. | 500 | 9056 | 1.2 |
|  NSD Co. Ltd. | 18600 | 334165 | 45.2 |
|  NTN Corp. | 48200 | 99922 | 13.5 |
|  Obara Group, Inc. | 4800 | 138886 | 18.8 |
|  Oiles Corp. | 17500 | 208288 | 28.2 |
|  Okamura Corp. | 10700 | 117363 | 15.9 |
|  Oki Electric Industry Co. Ltd. | 52300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295428 | 40.0 |
|  Okinawa Cellular Telephone Co. | 6600 | 159688 | 21.6 |
|  Okinawa Electric Power Co. Inc. | 24700 | 205420 | 27.8 |
|  Okumura Corp. | 900 | 20938 | 2.8 |
|  Osaka Organic Chemical Industry Ltd. | 11900 | 196357 | 26.6 |
|  OSAKA Titanium Technologies Co. Ltd. | 13800 | 391567 | 53.0 |
|  Pacific Metals Co. Ltd. | 1400 | 21615 | 2.9 |
|  PHC Holdings Corp. | 700 | 8305 | 1.1 |
|  Plus Alpha Consulting Co. Ltd. | 3000 | 65024 | 8.8 |
|  Prestige International, Inc. | 51600 | 287845 | 38.9 |
|  Raito Kogyo Co. Ltd. | 8200 | 121694 | 16.5 |
|  Relia, Inc. | 65 | 733 | 0.1 |
|  Riso Kyoiku Co. Ltd. | 106600 | 299573 | 40.5 |
|  Round One Corp. | 43400 | 159911 | 21.6 |
|  Royal Holdings Co. Ltd. | 4800 | 89707 | 12.1 |
|  RS Technologies Co. Ltd. | 1500 | 45584 | 6.2 |
|  Sakata Seed Corp. | 4300 | 137377 | 18.6 |
|  Sangetsu Corp. | 4000 | 70292 | 9.5 |
|  Sanyo Chemical Industries Ltd. | 2900 | 94563 | 12.8 |
|  Sanyo Special Steel Co. Ltd. | 1500 | 28780 | 3.9 |
|  Sato Holdings Corp. | 12800 | 208646 | 28.2 |
|  Septeni Holdings Co. Ltd. | 23400 | 61975 | 8.4 |
|  Shin-Etsu Polymer Co. Ltd. | 4400 | 43814 | 5.9 |
|  Shoei Co. Ltd. | 7400 | 284941 | 38.5 |
|  Starts Corp. Inc. | 3600 | 71588 | 9.7 |
|  Starts Proceed Investment Corp. | 17 | 29787 | 4.0 |
|  Strike Co. Ltd. | 3800 | 123120 | 16.7 |
|  Sumitomo Warehouse Co. Ltd. | 11400 | 175526 | 23.7 |
|  Sun Frontier Fudousan Co. Ltd. | 24000 | 206887 | 28.0 |
|  Systena Corp. | 153500 | 492764 | 66.6 |
|  Taiyo Holdings Co. Ltd. | 19700 | 363419 | 49.1 |
|  Takara Standard Co. Ltd. | 900 | 9822 | 1.3 |
|  Takuma Co. Ltd. | 55600 | 550751 | 74.5 |
|  Tamron Co. Ltd. | 2700 | 65454 | 8.9 |
|  TechMatrix Corp. | 3600 | 49284 | 6.7 |
|  Tocalo Co. Ltd. | 13900 | 133154 | 18.0 |
|  Toei Animation Co. Ltd. | 1200 | 119620 | 16.2 |
|  Tokai Corp./Gifu | 8500 | 127908 | 17.3 |
|  Tokai Rika Co. Ltd. | 17200 | 199651 | 27.0 |
|  Token Corp. | 5300 | 320523 | 43.3 |
|  Tokyo Steel Manufacturing Co. Ltd. | 25600 | 278536 | 37.7 |
|  Tokyu Construction Co. Ltd. | 82200 | 418359 | 56.6 |
|  Tokyu REIT, Inc. | 104 | 156710 | 21.2 |
|  Topcon Corp. | 31400 | 409190 | 55.3 |
|  Toridoll Holdings Corp. | 5300 | 114972 | 15.5 |
|  Tosei Corp. | 10000 | 114168 | 15.4 |
|  Tosho Co. Ltd. | 4000 | 36907 | 5.0 |
|  Towa Pharmaceutical Co. Ltd. | 13800 | 217881 | 29.5 |
|  Tri Chemical Laboratories, Inc. | 11000 | 199751 | 27.0 |
|  Tsubakimoto Chain Co. | 800 | 19151 | 2.6 |
|  UACJ Corp. | 500 | 9388 | 1.3 |
|  United Arrows Ltd. | 25900 | 349756 | 47.3 |
|  UT Group Co. Ltd. | 26100 | 531651 | 71.9 |

---

S C H E D U L E O F I N V E S T M E N T S 6

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Valor Holdings Co. Ltd. | 34200 | $492856 | 66.7% |
|  ValueCommerce Co. Ltd. | 31900 | 437678 | 59.2 |
|  Vector, Inc. | 4200 | 41470 | 5.6 |
|  Vision, Inc./Tokyo Japan | 7100 | 79413 | 10.7 |
|  VT Holdings Co. Ltd. | 34100 | 131280 | 17.8 |
|  Wakita & Co. Ltd. | 24000 | 223865 | 30.3 |
|  WDB Holdings Co. Ltd. | 1800 | 29786 | 4.0 |
|  Yamazen Corp. | 16900 | 138429 | 18.7 |
|  Yellow Hat Ltd. | 1800 | 24678 | 3.3 |
|  Yodogawa Steel Works Ltd. | 3600 | 76708 | 10.4 |
|  Yurtec Corp. | 5000 | 29451 | 4.0 |
|  Zenrin Co. Ltd. | 41500 | 257989 | 34.9 |
|  Zuken, Inc. | 7000 | 170828 | 23.1 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31752919 |  |
| **Luxembourg** |  |  |  |
|  Orion Engineered Carbons SA | 10067 | 211608 | 28.6 |
|  Perimeter Solutions SA | 3205 | 29806 | 4.0 |
|  SES SA, Class A | 2128 | 16514 | 2.3 |
|  |  | 257928 |  |
| **Malta** |  |  |  |
|  Kambi Group PLC | 7375 | 132624 | 17.9 |
| **Netherlands** |  |  |  |
|  Pharming Group NV | 45768 | 63478 | 8.6 |
|  Shop Apotheke Europe NV | 540 | 38936 | 5.3 |
|  TomTom NV | 38185 | 271388 | 36.7 |
|  Van Lanschot Kempen NV | 4946 | 142316 | 19.2 |
|  Wereldhave NV | 13199 | 198274 | 26.8 |
|  |  | 714392 |  |
| **New Zealand** |  |  |  |
|  a2 Milk Co. Ltd. | 35826 | 171822 | 23.2 |
|  Summerset Group Holdings Ltd. | 5072 | 32121 | 4.4 |
|  |  | 203943 |  |
| **Norway** |  |  |  |
|  Austevoll Seafood ASA | 2999 | 29710 | 4.0 |
|  Borregaard ASA, Registered Shares | 3275 | 50491 | 6.8 |
|  DNO ASA | 88993 | 109791 | 14.8 |
|  Elkem ASA | 55316 | 195940 | 26.5 |
|  Protector Forsikring ASA | 9382 | 135172 | 18.3 |
|  Scatec ASA | 34065 | 277840 | 37.6 |
|  TGS ASA | 1344 | 22253 | 3.0 |
|  |  | 821197 |  |
| **Singapore** |  |  |  |
|  AIMS APAC REIT | 53300 | 55754 | 7.5 |
|  BW LPG Ltd. | 17476 | 144636 | 19.6 |
|  Capitaland India Trust | 318000 | 294022 | 39.8 |
|  Far East Hospitality Trust | 372600 | 190482 | 25.8 |
|  First Resources Ltd. | 109400 | 128215 | 17.3 |
|  Frasers Centrepoint Trust | 107200 | 181746 | 24.6 |
|  Hour Glass Ltd. | 6900 | 10948 | 1.5 |
|  IGG, Inc. | 811000 | 305019 | 41.2 |
|  Sasseur Real Estate Investment Trust | 107700 | 66894 | 9.0 |
|  Sheng Siong Group Ltd. | 62800 | 78483 | 10.6 |
|  |  | 1456199 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **South Sandwich Islands** |  |  |  |
|  Balanced Commercial Property Trust Ltd. | 473110 | $463119 | 62.6% |
|  UK Commercial Property REIT Ltd. | 711316 | 508446 | 68.8 |
|  |  | 971565 |  |
| **Spain** |  |  |  |
|  Cia de Distribucion Integral Logista Holdings SA | 3419 | 92632 | 12.5 |
|  Ebro Foods SA | 1722 | 29582 | 4 |
|  Laboratorios Farmaceuticos Rovi SA | 206 | 8694 | 1.2 |
|  Melia Hotels International SA | 1163 | 7744 | 1.1 |
|  Sacyr SA | 80618 | 247999 | 33.5 |
|  Unicaja Banco SA | 156467 | 192322 | 26 |
|  |  | 578973 |  |
| **Sweden** |  |  |  |
|  AddTech AB, B Shares | 33850 | 540562 | 73.1 |
|  AFRY AB | 7456 | 134600 | 18.2 |
|  Arjo AB, B Shares | 15274 | 59271 | 8 |
|  BioGaia AB, B Shares | 32487 | 285554 | 38.6 |
|  Biotage AB | 18214 | 281496 | 38.1 |
|  Bufab AB | 1784 | 46226 | 6.2 |
|  Camurus AB | 299 | 7142 | 1 |
|  Corem Property Group AB | 105857 | 96911 | 13.1 |
|  Fortnox AB | 19673 | 99273 | 13.4 |
|  HMS Networks AB | 5259 | 196057 | 26.5 |
|  Inwido AB | 2848 | 31038 | 4.2 |
|  MIPS AB | 7753 | 296701 | 40.1 |
|  Mycronic AB | 442 | 9448 | 1.3 |
|  Nolato AB, B Shares | 23494 | 141884 | 19.2 |
|  Nordnet AB publ | 488 | 7903 | 1.1 |
|  Nyfosa AB | 12008 | 104708 | 14.2 |
|  Orron Energy AB | 10266 | 19032 | 2.6 |
|  OX2 AB | 10115 | 78084 | 10.6 |
|  Ratos AB, B Shares | 16602 | 66956 | 9.1 |
|  Scandic Hotels Group AB | 35149 | 129577 | 17.5 |
|  Sectra AB, B Shares | 9321 | 132001 | 17.8 |
|  Troax Group AB | 1025 | 21569 | 2.9 |
|  Xvivo Perfusion AB | 685 | 14059 | 1.9 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800052 |  |
| **Switzerland** |  |  |  |
|  Basilea Pharmaceutica AG, Registered Shares | 6521 | 352230 | 47.6 |
|  Burkhalter Holding AG | 229 | 21279 | 2.9 |
|  Ferrexpo PLC | 3398 | 6648 | 0.9 |
|  Gurit Holding AG | 1326 | 147736 | 20 |
|  Implenia AG, Registered Shares | 545 | 22894 | 3.1 |
|  Inficon Holding AG, Registered Shares | 99 | 103653 | 14 |
|  LEM Holding SA, Registered Shares | 12 | 26543 | 3.6 |
|  Medartis Holding AG | 562 | 47153 | 6.4 |
|  Sulzer AG, Registered Shares | 317 | 26994 | 3.6 |
|  Swissquote Group Holding SA, Registered Shares | 1210 | 218534 | 29.6 |
|  Ypsomed Holding AG, Registered Shares | 2372 | 486773 | 65.8 |
|  |  | 1460437 |  |
| **United Kingdom** |  |  |  |
|  AG Barr PLC | 1549 | 10476 | 1.4 |
|  AJ Bell PLC | 22160 | 91959 | 12.4 |
|  Alpha Group International PLC | 320 | 7338 | 1 |
|  Ashmore Group PLC | 12069 | 39752 | 5.4 |
|  ASOS PLC | 7687 | 83167 | 11.3 |
|  Avon Rubber PLC | 566 | 7048 | 1 |
|  boohoo Group PLC | 176044 | 96126 | 13 |

---

7.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United Kingdom (continued)** |  |  |  |
|  Bytes Technology Group PLC | 37826 | $180473 | 24.4% |
|  Capital & Counties Properties PLC | 50889 | 72149 | 9.8 |
|  Ceres Power Holdings PLC | 2720 | 16011 | 2.2 |
|  Chemring Group PLC | 68152 | 236940 | 32.0 |
|  Clarkson PLC | 2461 | 93297 | 12.6 |
|  CLS Holdings PLC | 71820 | 131929 | 17.8 |
|  CVS Group PLC | 2429 | 60400 | 8.2 |
|  DiscoverIE Group PLC | 16405 | 163106 | 22.1 |
|  Domino's Pizza Group PLC | 2859 | 11068 | 1.5 |
|  Dunelm Group PLC | 13099 | 188137 | 25.4 |
|  EnQuest PLC | 131182 | 35468 | 4.8 |
|  FD Technologies PLC | 925 | 15623 | 2.1 |
|  Frontier Developments PLC | 2760 | 16469 | 2.2 |
|  Gamma Communications PLC | 4637 | 67646 | 9.2 |
|  Hammerson PLC | 3001122 | 993062 | 134.3 |
|  Hunting PLC | 42791 | 183851 | 24.9 |
|  Impax Asset Management Group PLC | 24914 | 239538 | 32.4 |
|  IntegraFin Holdings PLC | 5740 | 22135 | 3.0 |
|  JET2 PLC | 16893 | 254655 | 34.4 |
|  Judges Scientific PLC | 2471 | 255286 | 34.5 |
|  Jupiter Fund Management PLC | 15793 | 27259 | 3.7 |
|  Kainos Group PLC | 17151 | 311460 | 42.1 |
|  Learning Technologies Group PLC | 38273 | 66153 | 9.0 |
|  Luxfer Holdings PLC | 2719 | 44999 | 6.1 |
|  Mitchells & Butlers PLC | 30472 | 61916 | 8.4 |
|  Moneysupermarket.com Group PLC | 160578 | 472749 | 63.9 |
|  Morgan Advanced Materials PLC | 43719 | 169676 | 23.0 |
|  National Express Group PLC | 218165 | 359375 | 48.6 |
|  OSB Group PLC | 27446 | 185038 | 25.0 |
|  Polar Capital Holdings PLC | 7150 | 45661 | 6.2 |
|  Quilter PLC | 169044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200653 | 27.1 |
|  Safestore Holdings PLC | 15375 | 191445 | 25.9 |
|  Savills PLC | 710 | 8542 | 1.2 |
|  Shaftesbury PLC | 55175 | 268723 | 36.3 |
|  SIG PLC | 199367 | 86124 | 11.7 |
|  Smart Metering Systems PLC | 19745 | 211781 | 28.6 |
|  SThree PLC | 57776 | 302011 | 40.8 |
|  Telecom Plus PLC | 1124 | 27683 | 3.7 |
|  THG PLC, Class B | 38114 | 27356 | 3.7 |
|  Trainline PLC | 25125 | 87908 | 11.9 |
|  Vesuvius PLC | 17084 | 86144 | 11.7 |
|  Virgin Money UK PLC | 9993 | 23910 | 3.2 |
|  Wickes Group PLC | 14771 | 27698 | 3.7 |
|  Workspace Group PLC | 21534 | 134068 | 18.1 |
|  YouGov PLC | 14637 | 175849 | 23.8 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7177290 |  |
| **United States** |  |  |  |
|  2seventy bio, Inc. | 3044 | 41398 | 5.6 |
|  2U, Inc. | 17174 | 148212 | 20.0 |
|  8x8, Inc. | 111239 | 523936 | 70.9 |
|  A10 Networks, Inc. | 14837 | 229677 | 31.1 |
|  AAON, Inc. | 1189 | 90744 | 12.3 |
|  Aaron's Co., Inc. | 977 | 14313 | 1.9 |
|  Abercrombie & Fitch Co., Class A | 2043 | 59165 | 8.0 |
|  Acushnet Holdings Corp. | 1987 | 93290 | 12.6 |
|  Advanced Energy Industries, Inc. | 9321 | 864430 | 116.9 |
|  AdvanSix, Inc. | 5566 | 240674 | 32.5 |
|  AerSale Corp. | 14278 | 265714 | 35.9 |
|  Agios Pharmaceuticals, Inc. | 121 | 3567 | 0.5 |
|  Air Transport Services Group, Inc. | 2491 | 70520 | 9.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Alarm.com Holdings, Inc. | 906 | $48562 | 6.6% |
|  Alector, Inc. | 11438 | 100883 | 13.6 |
|  Alignment Healthcare, Inc. | 9046 | 111718 | 15.1 |
|  Allegiant Travel Co. | 629 | 54113 | 7.3 |
|  Allegro MicroSystems, Inc. | 501 | 19123 | 2.6 |
|  Allogene Therapeutics, Inc. | 26072 | 201276 | 27.2 |
|  Allscripts Healthcare Solutions, Inc. | 31359 | 561640 | 76 |
|  Altair Engineering, Inc., Class A | 2545 | 135139 | 18.3 |
|  Altice USA, Inc., Class A | 5022 | 24608 | 3.3 |
|  Amalgamated Financial Corp. | 12908 | 296239 | 40.1 |
|  A-Mark Precious Metals, Inc. | 198 | 7623 | 1 |
|  American Assets Trust, Inc. | 1118 | 31818 | 4.3 |
|  American Axle & Manufacturing Holdings, Inc. | 22010 | 195229 | 26.4 |
|  AMERISAFE, Inc. | 227 | 12503 | 1.7 |
|  Amneal Pharmaceuticals, Inc. | 39996 | 87991 | 11.9 |
|  Amphastar Pharmaceuticals, Inc. | 10404 | 314825 | 42.6 |
|  AnaptysBio, Inc. | 5732 | 142669 | 19.3 |
|  Anika Therapeutics, Inc. | 3483 | 108008 | 14.6 |
|  Anterix, Inc. | 373 | 13454 | 1.8 |
|  Apogee Enterprises, Inc. | 2613 | 122393 | 16.6 |
|  Arbor Realty Trust, Inc. | 3948 | 58944 | 8 |
|  ArcBest Corp. | 1920 | 160224 | 21.7 |
|  Archrock, Inc. | 1004 | 9950 | 1.3 |
|  Arcus Biosciences, Inc. | 10638 | 230100 | 31.1 |
|  Artisan Partners Asset Management, Inc., Class A | 7816 | 287785 | 38.9 |
|  Artivion, Inc. | 2235 | 29144 | 3.9 |
|  Arvinas, Inc. | 2426 | 79500 | 10.8 |
|  Associated Banc-Corp. | 1084 | 24292 | 3.3 |
|  Assured Guaranty Ltd. | 7 | 438 | 0.1 |
|  Astec Industries, Inc. | 622 | 27455 | 3.7 |
|  Atlantic Union Bankshares Corp. | 2452 | 94868 | 12.8 |
|  AtriCure, Inc. | 2093 | 90585 | 12.3 |
|  AvidXchange Holdings, Inc. | 19764 | 219776 | 29.7 |
|  Avient Corp. | 2357 | 95506 | 12.9 |
|  Axos Financial, Inc. | 4397 | 211584 | 28.6 |
|  Bandwidth, Inc., Class A | 16402 | 408082 | 55.2 |
|  Bar Harbor Bankshares | 1046 | 32499 | 4.4 |
|  Belden, Inc. | 1414 | 114661 | 15.5 |
|  Berry Corp. | 17081 | 157145 | 21.3 |
|  BGC Partners, Inc., Class A | 5423 | 23590 | 3.2 |
|  Big Lots, Inc. | 5569 | 91109 | 12.3 |
|  Blackbaud, Inc. | 2075 | 129086 | 17.5 |
|  Bluebird Bio, Inc. | 15543 | 98698 | 13.3 |
|  Boise Cascade Co. | 3929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294557 | 39.8 |
|  BOK Financial Corp. | 167 | 16783 | 2.3 |
|  Boot Barn Holdings, Inc. | 2012 | 167982 | 22.7 |
|  Brandywine Realty Trust | 7557 | 49574 | 6.7 |
|  Bread Financial Holdings, Inc. | 6283 | 257791 | 34.9 |
|  Bridgebio Pharma, Inc. | 1257 | 11665 | 1.6 |
|  BrightView Holdings, Inc. | 2167 | 17228 | 2.3 |
|  Brink's Co. | 1571 | 103058 | 13.9 |
|  Brookdale Senior Living, Inc. | 97181 | 279881 | 37.9 |
|  Buckle, Inc. | 1795 | 78980 | 10.7 |
|  Byline Bancorp, Inc. | 1314 | 32587 | 4.4 |
|  C4 Therapeutics, Inc. | 1941 | 15120 | 2 |
|  Cal-Maine Foods, Inc. | 4013 | 229624 | 31.1 |
|  Camden National Corp. | 2340 | 98818 | 13.4 |
|  Cannae Holdings, Inc. | 8380 | 204807 | 27.7 |
|  Cara Therapeutics, Inc. | 5375 | 62780 | 8.5 |
|  Cardiovascular Systems, Inc. | 21938 | 305816 | 41.4 |

---

S C H E D U L E O F I N V E S T M E N T S 8

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  CareDx, Inc. | 13725 | $205051 | 27.7% |
|  Casa Systems, Inc. | 23552 | 80548 | 10.9 |
|  Casella Waste Systems, Inc., Class A | 2049 | 164166 | 22.2 |
|  Catalyst Pharmaceuticals, Inc. | 2166 | 33551 | 4.5 |
|  Cavco Industries, Inc. | 199 | 52954 | 7.2 |
|  CBIZ, Inc. | 532 | 25318 | 3.4 |
|  Central Garden & Pet Co., Class A | 2871 | 113778 | 15.4 |
|  Century Aluminum Co. | 2907 | 32675 | 4.4 |
|  Cerus Corp. | 22717 | 71331 | 9.6 |
|  Chatham Lodging Trust | 27974 | 397511 | 53.8 |
|  Chegg, Inc. | 21414 | 444555 | 60.1 |
|  Chico's FAS, Inc. | 67288 | 354608 | 48 |
|  Children's Place, Inc. | 1508 | 68418 | 9.3 |
|  Chimera Investment Corp. | 60104 | 438158 | 59.3 |
|  Cinemark Holdings, Inc. | 18991 | 226753 | 30.7 |
|  CIRCOR International, Inc. | 942 | 26046 | 3.5 |
|  Clean Energy Fuels Corp. | 43138 | 244161 | 33 |
|  Clearwater Paper Corp. | 7379 | 284903 | 38.5 |
|  Clover Health Investments Corp., Class A | 5570 | 7408 | 1 |
|  CNO Financial Group, Inc. | 4202 | 108244 | 14.6 |
|  Codexis, Inc. | 74037 | 455328 | 61.6 |
|  Coeur Mining, Inc. | 16493 | 64158 | 8.7 |
|  Coherus Biosciences, Inc. | 29572 | 250771 | 33.9 |
|  Comfort Systems USA, Inc. | 2002 | 242322 | 32.8 |
|  CommScope Holding Co., Inc. | 2160 | 18144 | 2.5 |
|  Community Health Systems, Inc. | 30898 | 161288 | 21.8 |
|  ConnectOne Bancorp, Inc. | 16869 | 400976 | 54.2 |
|  Corcept Therapeutics, Inc. | 7594 | 173599 | 23.5 |
|  Core & Main, Inc., Class A | 19167 | 423016 | 57.2 |
|  CorVel Corp. | 582 | 103689 | 14 |
|  CrossFirst Bankshares, Inc. | 6869 | 92731 | 12.5 |
|  Dana, Inc. | 3374 | 61204 | 8.3 |
|  Deciphera Pharmaceuticals, Inc. | 621 | 10563 | 1.4 |
|  Delek U.S. Holdings, Inc. | 3569 | 95506 | 12.9 |
|  Diamond Offshore Drilling, Inc. | 644 | 7380 | 1 |
|  DiamondRock Hospitality Co. | 5826 | 56104 | 7.6 |
|  DigitalOcean Holdings, Inc. | 11431 | 335500 | 45.4 |
|  Dime Community Bancshares, Inc. | 4950 | 147609 | 20 |
|  Diversey Holdings Ltd. | 1451 | 8808 | 1.2 |
|  DMC Global, Inc. | 579 | 13166 | 1.8 |
|  Domo, Inc., Class B | 1659 | 25731 | 3.5 |
|  Dorian LPG Ltd. | 6737 | 133729 | 18.1 |
|  Ducommun, Inc. | 3391 | 195932 | 26.5 |
|  Dynavax Technologies Corp. | 5454 | 62067 | 8.4 |
|  Dyne Therapeutics, Inc. | 8127 | 118654 | 16 |
|  Eagle Bulk Shipping, Inc. | 3936 | 225454 | 30.5 |
|  Eagle Pharmaceuticals, Inc. | 7304 | 247898 | 33.5 |
|  EchoStar Corp., Class A | 29264 | 547529 | 74 |
|  Ecovyst, Inc. | 82556 | 866012 | 117.1 |
|  Editas Medicine, Inc., Class A | 14551 | 143909 | 19.5 |
|  elf Beauty, Inc. | 4197 | 241537 | 32.7 |
|  Emergent BioSolutions, Inc. | 18884 | 249080 | 33.7 |
|  Enerpac Tool Group Corp., Class A | 5037 | 133682 | 18.1 |
|  Enova International, Inc. | 1249 | 57017 | 7.7 |
|  EPR Properties | 5142 | 218432 | 29.5 |
|  ESCO Technologies, Inc. | 700 | 68908 | 9.3 |
|  Essent Group Ltd. | 9307 | 409787 | 55.4 |
|  Ethan Allen Interiors, Inc. | 17530 | 503812 | 68.1 |
|  Eventbrite, Inc., Class A | 65514 | 582419 | 78.8 |
|  Everbridge, Inc. | 4444 | 142030 | 19.2 |
|  Everi Holdings, Inc. | 70348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1221945 | 165.3 |
|  eXp World Holdings, Inc. | 34737 | 541550 | 73.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Exponent, Inc. | 392 | $40196 | 5.4% |
|  Extreme Networks, Inc. | 10135 | 182734 | 24.7 |
|  Ezcorp, Inc., Class A | 11414 | 103982 | 14.1 |
|  Fastly, Inc., Class A | 2066 | 21383 | 2.9 |
|  Fate Therapeutics, Inc. | 27996 | 166856 | 22.6 |
|  Federal Agricultural Mortgage Corp., Class C | 465 | 61831 | 8.4 |
|  Financial Institutions, Inc. | 2 | 49 | 0.0 |
|  First Bancshares, Inc. | 10996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337027 | 45.6 |
|  First Foundation, Inc. | 7949 | 123448 | 16.7 |
|  First Hawaiian, Inc. | 289 | 7930 | 1.1 |
|  First Interstate BancSystem, Inc., Class A | 1351 | 48474 | 6.6 |
|  First of Long Island Corp. | 7904 | 139585 | 18.9 |
|  FirstCash Holdings, Inc. | 427 | 39361 | 5.3 |
|  Flushing Financial Corp. | 19873 | 381363 | 51.6 |
|  Foot Locker, Inc. | 3315 | 144236 | 19.5 |
|  Forrester Research, Inc. | 1650 | 61149 | 8.3 |
|  Forward Air Corp. | 3749 | 404330 | 54.7 |
|  Franklin BSP Realty Trust, Inc. | 2507 | 36351 | 4.9 |
|  Franklin Covey Co. | 10257 | 475925 | 64.4 |
|  Franklin Electric Co., Inc. | 782 | 70615 | 9.5 |
|  Fresh Del Monte Produce, Inc. | 5256 | 150322 | 20.3 |
|  FutureFuel Corp. | 885 | 8204 | 1.1 |
|  GATX Corp. | 1210 | 138484 | 18.7 |
|  Genco Shipping & Trading Ltd. | 11949 | 216755 | 29.3 |
|  Genesco, Inc. | 517 | 24966 | 3.4 |
|  Gibraltar Industries, Inc. | 2550 | 136603 | 18.5 |
|  G-III Apparel Group Ltd. | 2313 | 39136 | 5.3 |
|  GMS, Inc. | 4311 | 255728 | 34.6 |
|  Golden Entertainment, Inc. | 8192 | 323584 | 43.8 |
|  GoodRx Holdings, Inc., Class A | 63659 | 355854 | 48.1 |
|  Goosehead Insurance, Inc., Class A | 4402 | 171898 | 23.2 |
|  GoPro, Inc., Class A | 127165 | 782065 | 105.8 |
|  Gray Television, Inc. | 11346 | 147044 | 19.9 |
|  Great Lakes Dredge & Dock Corp. | 3386 | 23296 | 3.2 |
|  Group 1 Automotive, Inc. | 520 | 111202 | 15.0 |
|  Gulfport Energy Corp. | 4844 | 330119 | 44.6 |
|  Hackett Group, Inc. | 15219 | 336340 | 45.5 |
|  Hamilton Lane, Inc., Class A | 215 | 16740 | 2.3 |
|  Hannon Armstrong Sustainable Infrastructure<br>Capital, Inc. | 16669 | 615253 | 83.2 |
|  Harsco Corp. | 19045 | 151217 | 20.5 |
|  Haverty Furniture Cos., Inc. | 7040 | 245837 | 33.2 |
|  Hawaiian Holdings, Inc. | 23222 | 286095 | 38.7 |
|  HBT Financial, Inc. | 2298 | 48189 | 6.5 |
|  HealthStream, Inc. | 1768 | 42750 | 5.8 |
|  Heidrick & Struggles International, Inc. | 7875 | 242235 | 32.8 |
|  Helios Technologies, Inc. | 2162 | 142692 | 19.3 |
|  Helix Energy Solutions Group, Inc. | 44062 | 349412 | 47.3 |
|  Heron Therapeutics, Inc. | 25993 | 70441 | 9.5 |
|  Hibbett, Inc. | 121 | 8030 | 1.1 |
|  Hillenbrand, Inc. | 930 | 43580 | 5.9 |
|  Hilltop Holdings, Inc. | 2833 | 92639 | 12.5 |
|  Hingham Institution For Savings The | 163 | 47651 | 6.4 |
|  Holley, Inc. | 1494 | 4945 | 0.7 |
|  Horizon Bancorp, Inc. | 24623 | 385104 | 52.1 |
|  Hub Group, Inc., Class A | 3770 | 321468 | 43.5 |
|  Hudson Pacific Properties, Inc. | 37005 | 421487 | 57.0 |
|  I3 Verticals, Inc., Class A | 5417 | 156660 | 21.2 |
|  IDT Corp., Class B | 7858 | 230947 | 31.2 |
|  IGM Biosciences, Inc. | 3243 | 73713 | 10.0 |
|  iHeartMedia, Inc., Class A | 10312 | 79918 | 10.8 |
|  Independent Bank Corp. | 10442 | 231499 | 31.3 |

---

9.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Industrial Logistics Properties Trust | 8363 | $36881 | 5.0% |
|  Infinera Corp. | 10943 | 80103 | 10.8 |
|  Innoviva, Inc. | 2838 | 35901 | 4.9 |
|  Inogen, Inc. | 729 | 17008 | 2.3 |
|  Inovio Pharmaceuticals, Inc. | 3229 | 5360 | 0.7 |
|  Insperity, Inc. | 2163 | 239120 | 32.3 |
|  Installed Building Products, Inc. | 5460 | 601091 | 81.3 |
|  Inter Parfums, Inc. | 1178 | 139263 | 18.8 |
|  Intercept Pharmaceuticals, Inc. | 14333 | 261721 | 35.4 |
|  International Seaways, Inc. | 2127 | 82613 | 11.2 |
|  Ironwood Pharmaceuticals, Inc., Class A | 7549 | 86964 | 11.8 |
|  iStar, Inc. | 93593 | 868543 | 117.5 |
|  Jackson Financial, Inc., Class A | 2860 | 125954 | 17 |
|  Jamf Holding Corp. | 14035 | 278875 | 37.7 |
|  Janus International Group, Inc. | 37259 | 409849 | 55.4 |
|  JetBlue Airways Corp. | 81133 | 649064 | 87.8 |
|  Kadant, Inc. | 719 | 146511 | 19.8 |
|  Kaiser Aluminum Corp. | 411 | 35971 | 4.9 |
|  KAR Auction Services, Inc. | 18945 | 275839 | 37.3 |
|  Karyopharm Therapeutics, Inc. | 7872 | 25978 | 3.5 |
|  Kearny Financial Corp. | 15449 | 144912 | 19.6 |
|  Kforce, Inc. | 10488 | 588691 | 79.6 |
|  Knowles Corp. | 2928 | 56305 | 7.6 |
|  Kodiak Sciences, Inc. | 3393 | 27415 | 3.7 |
|  Korn Ferry | 3036 | 163914 | 22.2 |
|  Kratos Defense & Security Solutions, Inc. | 4843 | 55452 | 7.5 |
|  Kura Oncology, Inc. | 1707 | 23591 | 3.2 |
|  Kyndryl Holdings, Inc. | 7280 | 97479 | 13.2 |
|  Ladder Capital Corp., Class A | 9386 | 105123 | 14.2 |
|  Laureate Education, Inc. | 17308 | 190042 | 25.7 |
|  LCI Industries | 1807 | 202782 | 27.4 |
|  LeMaitre Vascular, Inc. | 7700 | 363286 | 49.1 |
|  LendingTree, Inc. | 21715 | 861217 | 116.5 |
|  Liberty Latin America Ltd., Class A | 22319 | 219619 | 29.7 |
|  Liberty Media Corp.-Liberty Braves, Class A | 606 | 21289 | 2.9 |
|  Ligand Pharmaceuticals, Inc. | 4325 | 301452 | 40.8 |
|  Lindblad Expeditions Holdings, Inc. | 2064 | 24562 | 3.3 |
|  Lindsay Corp. | 646 | 101177 | 13.7 |
|  Lions Gate Entertainment Corp., Class A | 1318 | 10504 | 1.4 |
|  Lions Gate Entertainment Corp., Class B | 139 | 1059 | 0.1 |
|  Live Oak Bancshares, Inc. | 2589 | 88621 | 12 |
|  LivePerson, Inc. | 40813 | 525671 | 71.1 |
|  LiveRamp Holdings, Inc. | 16960 | 453850 | 61.4 |
|  LSB Industries, Inc. | 8874 | 112789 | 15.3 |
|  Luther Burbank Corp. | 8706 | 102208 | 13.8 |
|  Magnite, Inc. | 3024 | 36530 | 4.9 |
|  Malibu Boats, Inc., Class A | 544 | 32961 | 4.5 |
|  Manitowoc Co., Inc. | 549 | 7521 | 1 |
|  Marcus Corp. | 23340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353368 | 47.8 |
|  MarineMax, Inc. | 416 | 13000 | 1.8 |
|  Marten Transport Ltd. | 8364 | 184761 | 25 |
|  Matson, Inc. | 1421 | 93957 | 12.7 |
|  Medifast, Inc. | 1882 | 209749 | 28.4 |
|  Mercantile Bank Corp. | 955 | 32785 | 4.4 |
|  Merchants Bancorp | 6304 | 181366 | 24.5 |
|  Mercury General Corp. | 15831 | 565642 | 76.5 |
|  Metropolitan Bank Holding Corp. | 2069 | 122857 | 16.6 |
|  MFA Financial, Inc. | 11916 | 141681 | 19.2 |
|  Midland States Bancorp, Inc. | 15859 | 404087 | 54.6 |
|  MidWestOne Financial Group, Inc. | 7715 | 240322 | 32.5 |
|  MillerKnoll, Inc. | 2768 | 66100 | 8.9 |
|  Mister Car Wash, Inc. | 15583 | 160037 | 21.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Mitek Systems, Inc. | 3106 | $30625 | 4.1% |
|  ModivCare, Inc. | 1015 | 108869 | 14.7 |
|  Momentive Global, Inc. | 12139 | 93592 | 12.7 |
|  Monarch Casino & Resort, Inc. | 7457 | 571355 | 77.3 |
|  Montauk Renewables, Inc. | 7999 | 88869 | 12 |
|  Movado Group, Inc. | 535 | 18918 | 2.6 |
|  Mr. Cooper Group, Inc. | 4218 | 193986 | 26.2 |
|  MRC Global, Inc. | 6174 | 83966 | 11.4 |
|  MSA Safety, Inc. | 695 | 94791 | 12.8 |
|  Mueller Industries, Inc. | 2202 | 144341 | 19.5 |
|  Myers Industries, Inc. | 8542 | 205691 | 27.8 |
|  Nabors Industries Ltd. | 2213 | 392896 | 53.1 |
|  Napco Security Technologies, Inc. | 4338 | 125672 | 17 |
|  National Beverage Corp. | 7421 | 328008 | 44.4 |
|  National Health Investors, Inc. | 441 | 25944 | 3.5 |
|  National Research Corp. | 615 | 28548 | 3.9 |
|  Nektar Therapeutics, Class A | 29072 | 79076 | 10.7 |
|  NeoGenomics, Inc. | 8720 | 103594 | 14 |
|  NETGEAR, Inc. | 11643 | 232511 | 31.4 |
|  Nevro Corp. | 11969 | 439502 | 59.4 |
|  NexPoint Residential Trust, Inc. | 9095 | 459297 | 62.1 |
|  NextGen Healthcare, Inc. | 11606 | 220746 | 29.9 |
|  Novavax, Inc. | 3860 | 42113 | 5.7 |
|  NOW, Inc. | 18151 | 254840 | 34.5 |
|  Nurix Therapeutics, Inc. | 2516 | 30922 | 4.2 |
|  NuVasive, Inc. | 6581 | 300094 | 40.6 |
|  NV5 Global, Inc. | 812 | 108231 | 14.6 |
|  Oceaneering International, Inc. | 788 | 16824 | 2.3 |
|  Office Properties Income Trust | 1359 | 23320 | 3.2 |
|  Old Second Bancorp, Inc. | 2481 | 42152 | 5.7 |
|  Omega Flex, Inc. | 78 | 8291 | 1.1 |
|  Organogenesis Holdings, Inc., Class A | 3191 | 8169 | 1.1 |
|  Orthofix Medical, Inc. | 4534 | 98070 | 13.3 |
|  Oscar Health, Inc., Class A | 10488 | 40274 | 5.4 |
|  Otter Tail Corp. | 7914 | 507683 | 68.7 |
|  Oxford Industries, Inc. | 5614 | 658073 | 89 |
|  Pacira BioSciences, Inc. | 7382 | 289891 | 39.2 |
|  Pactiv Evergreen, Inc. | 1504 | 17311 | 2.3 |
|  PagerDuty, Inc. | 10576 | 315059 | 42.6 |
|  Palomar Holdings, Inc. | 4625 | 236384 | 32 |
|  Par Pacific Holdings, Inc. | 2553 | 68242 | 9.2 |
|  PAR Technology Corp. | 1152 | 39156 | 5.3 |
|  Paramount Group, Inc. | 19182 | 123724 | 16.7 |
|  Paycor HCM, Inc. | 1678 | 42135 | 5.7 |
|  Payoneer Global, Inc. | 13268 | 79077 | 10.7 |
|  Pebblebrook Hotel Trust | 27525 | 451410 | 61 |
|  Pegasystems, Inc. | 468 | 18196 | 2.5 |
|  Peoples Bancorp, Inc. | 5185 | 153839 | 20.8 |
|  PGT Innovations, Inc. | 24042 | 521711 | 70.6 |
|  Photronics, Inc. | 22209 | 402427 | 54.4 |
|  Piedmont Office Realty Trust, Inc., Class A | 800 | 8480 | 1.1 |
|  PJT Partners, Inc., Class A | 553 | 44257 | 6 |
|  Plains GP Holdings LP, Class A | 30888 | 404324 | 54.7 |
|  Playa Hotels & Resorts NV | 94420 | 715704 | 96.8 |
|  Premier Financial Corp. | 13968 | 349479 | 47.3 |
|  Prestige Consumer Healthcare, Inc. | 955 | 62801 | 8.5 |
|  PriceSmart, Inc. | 1445 | 107378 | 14.5 |
|  PROG Holdings, Inc. | 14643 | 326392 | 44.1 |
|  ProPetro Holding Corp. | 1931 | 19213 | 2.6 |
|  PROS Holdings, Inc. | 9673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243760 | 33 |
|  Protagonist Therapeutics, Inc. | 9400 | 124926 | 16.9 |
|  Proto Labs, Inc. | 2774 | 84884 | 11.5 |

---

S C H E D U L E O F I N V E S T M E N T S 10

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Q2 Holdings, Inc. | 13254 | $433671 | 58.7% |
|  Quaker Chemical Corp. | 202 | 39768 | 5.4 |
|  Quanex Building Products Corp. | 6022 | 155910 | 21.1 |
|  Qurate Retail, Inc., Series A | 10460 | 26987 | 3.6 |
|  Rapid7, Inc. | 7956 | 317206 | 42.9 |
|  Rayonier, Inc. | 1229 | 44723 | 6 |
|  RE/MAX Holdings, Inc., Class A | 18469 | 421278 | 57 |
|  REGENXBIO, Inc., Registered Shares | 1210 | 28084 | 3.8 |
|  Repay Holdings Corp., Class A | 3393 | 33048 | 4.5 |
|  Revance Therapeutics, Inc. | 235 | 8150 | 1.1 |
|  Revolve Group, Inc. | 8680 | 247727 | 33.5 |
|  REX American Resources Corp. | 1153 | 37726 | 5.1 |
|  RLJ Lodging Trust | 27351 | 343802 | 46.5 |
|  RMR Group, Inc., Class A | 14673 | 455156 | 61.6 |
|  RPT Realty | 4243 | 44467 | 6 |
|  Rush Enterprises, Inc., Class A | 4174 | 224603 | 30.4 |
|  Rush Enterprises, Inc., Class B | 5268 | 306440 | 41.4 |
|  Sabre Corp. | 4496 | 30618 | 4.1 |
|  Safehold, Inc. | 3041 | 106313 | 14.4 |
|  Sandy Spring Bancorp, Inc. | 8143 | 275233 | 37.2 |
|  Sangamo Therapeutics, Inc. | 22322 | 77904 | 10.5 |
|  Sanmina Corp. | 5782 | 352297 | 47.6 |
|  ScanSource, Inc. | 2617 | 86178 | 11.7 |
|  Schnitzer Steel Industries, Inc., Class A | 216 | 7309 | 1 |
|  Scholastic Corp. | 2883 | 127544 | 17.2 |
|  Semtech Corp. | 41066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1356410 | 183.4 |
|  Seritage Growth Properties | 3659 | 44457 | 6 |
|  Service Properties Trust | 1733 | 15441 | 2.1 |
|  Shoe Carnival, Inc. | 2862 | 78161 | 10.6 |
|  Shutterstock, Inc. | 7105 | 534793 | 72.3 |
|  Shyft Group, Inc. | 11752 | 391224 | 52.9 |
|  Signet Jewelers Ltd. | 2897 | 222519 | 30.1 |
|  Simpson Manufacturing Co., Inc. | 3672 | 393308 | 53.2 |
|  Simulations Plus, Inc. | 2914 | 119882 | 16.2 |
|  Sinclair Broadcast Group, Inc., Class A | 4948 | 102077 | 13.8 |
|  Skyline Champion Corp. | 1807 | 106523 | 14.4 |
|  SL Green Realty Corp. | 16153 | 664696 | 89.9 |
|  Southern Missouri Bancorp, Inc. | 292 | 14139 | 1.9 |
|  SpartanNash Co. | 3806 | 120574 | 16.3 |
|  Sportsman's Warehouse Holdings, Inc. | 2604 | 24556 | 3.3 |
|  SPX Technologies, Inc. | 284 | 21303 | 2.9 |
|  Standard Motor Products, Inc. | 1970 | 79706 | 10.8 |
|  Sterling Infrastructure, Inc. | 5968 | 217176 | 29.4 |
|  Steven Madden Ltd. | 3735 | 133900 | 18.1 |
|  Stitch Fix, Inc., Class A | 7808 | 40680 | 5.5 |
|  StoneX Group, Inc. | 182 | 15994 | 2.2 |
|  Stride, Inc. | 3746 | 160816 | 21.7 |
|  Summit Hotel Properties, Inc. | 4572 | 38953 | 5.3 |
|  SunCoke Energy, Inc. | 6546 | 59634 | 8.1 |
|  Tandem Diabetes Care, Inc. | 4519 | 184104 | 24.9 |
|  Target Hospitality Corp. | 5065 | 77773 | 10.5 |
|  TechTarget, Inc. | 3385 | 167659 | 22.7 |
|  Thermon Group Holdings, Inc. | 818 | 18912 | 2.6 |
|  Thryv Holdings, Inc. | 3504 | 78384 | 10.6 |
|  Titan International, Inc. | 5825 | 97219 | 13.1 |
|  Titan Machinery, Inc. | 8417 | 369843 | 50 |
|  TPG RE Finance Trust, Inc. | 21956 | 191237 | 25.9 |
|  TravelCenters of America, Inc. | 4095 | 186404 | 25.2 |
|  Travere Therapeutics, Inc. | 23434 | 524922 | 71 |
|  Triumph Financial, Inc. | 3461 | 192882 | 26.1 |
|  TrueBlue, Inc. | 16442 | 322756 | 43.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Turning Point Brands, Inc. | 16706 | $387746 | 52.4% |
|  Tutor Perini Corp. | 22611 | 207343 | 28 |
|  U.S. Lime & Minerals, Inc. | 129 | 19582 | 2.6 |
|  U.S. Silica Holdings, Inc. | 40081 | 490591 | 66.3 |
|  Ultragenyx Pharmaceutical, Inc. | 5694 | 258109 | 34.9 |
|  United Fire Group, Inc. | 679 | 21382 | 2.9 |
|  Unitil Corp. | 3914 | 204193 | 27.6 |
|  Univest Financial Corp. | 13445 | 365032 | 49.4 |
|  Upwork, Inc. | 12428 | 161067 | 21.8 |
|  USANA Health Sciences, Inc. | 7833 | 457760 | 61.9 |
|  UWM Holdings Corp. | 15883 | 72744 | 9.8 |
|  Vanda Pharmaceuticals, Inc. | 25046 | 192353 | 26 |
|  Varex Imaging Corp. | 11790 | 253367 | 34.3 |
|  Veeco Instruments, Inc. | 13119 | 260543 | 35.2 |
|  Veracyte, Inc. | 2499 | 62800 | 8.5 |
|  Vericel Corp. | 2023 | 55572 | 7.5 |
|  Verint Systems, Inc. | 3476 | 131984 | 17.8 |
|  Veritex Holdings, Inc. | 265 | 7460 | 1 |
|  Veritiv Corp. | 352 | 44014 | 6 |
|  Viad Corp. | 471 | 13918 | 1.9 |
|  Vicor Corp. | 527 | 36590 | 4.9 |
|  Victory Capital Holdings, Inc., Class A | 1131 | 33523 | 4.5 |
|  ViewRay, Inc. | 7817 | 35880 | 4.9 |
|  Vimeo, Inc. | 3557 | 16149 | 2.2 |
|  Vishay Precision Group, Inc. | 293 | 12652 | 1.7 |
|  Vital Farms, Inc. | 6879 | 120933 | 16.4 |
|  Winmark Corp. | 3612 | 1014250 | 137.2 |
|  World Fuel Services Corp. | 12071 | 341609 | 46.2 |
|  Xencor, Inc. | 17081 | 562306 | 76 |
|  Xerox Holdings Corp. | 12777 | 209287 | 28.3 |
|  XPEL, Inc. | 204 | 15518 | 2.1 |
|  Yelp, Inc., Class A | 20839 | 656637 | 88.8 |
|  Yext, Inc. | 18987 | 131960 | 17.8 |
|  Zeta Global Holdings Corp., Class A | 9168 | 83245 | 11.3 |
|  ZipRecruiter, Inc., Class A | 34615 | 679839 | 91.9 |
|  Zumiez, Inc. | 15836 | 409044 | 55.3 |
|  Zuora, Inc., Class A | 19582 | 155089 | 21 |
|  |  | 77619152 |  |
| **Preferred Stocks** |  |  |  |
| **Germany** |  |  |  |
|  Schaeffler AG | 13105 | 94061 | 12.7 |
| **Rights** |  |  |  |
| **Spain** |  |  |  |
|  Sacyr SA | 3382 | 229 | 0.1 |
|  **Total Reference Entity — Long** |  | 152042668 |  |
|  **Reference Entity — Short** |  |  |  |
| **Common Stocks** |  |  |  |
| **Australia** |  |  |  |
|  Australian Clinical Labs Ltd. | (126103) | (276838) | (37.4) |
|  Bapcor Ltd. | (18777) | (84917) | (11.5) |
|  Bellevue Gold Ltd. | (269781) | (228900) | (31.0) |
|  Blackmores Ltd. | (533) | (33105) | (4.5) |
|  Breville Group Ltd. | (2433) | (39227) | (5.3) |
|  Capricorn Metals Ltd. | (38958) | (125595) | (17.0) |
|  Centuria Industrial REIT | (6104) | (14513) | (2.0) |
|  Chalice Mining Ltd. | (31226) | (143955) | (19.5) |
|  Charter Hall Long Wale REIT | (51225) | (165776) | (22.4) |
|  Corporate Travel Management Ltd. | (7840) | (102745) | (13.9) |

---

11.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Australia (continued)** |  |  |  |
|  De Grey Mining Ltd. | (49720) | $(52688) | (7.1)% |
|  Dicker Data Ltd. | (15439) | (116540) | (15.8) |
|  Eclipx Group Ltd. | (5856) | (8459) | (1.1) |
|  G8 Education Ltd. | (14924) | (13274) | (1.8) |
|  GUD Holdings Ltd. | (12453) | (73978) | (10.0) |
|  Healius Ltd. | (10871) | (24801) | (3.3) |
|  HomeCo Daily Needs REIT | (30118) | (28909) | (3.9) |
|  Ingenia Communities Group | (38901) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(128112) | (17.3) |
|  Inghams Group Ltd. | (196005) | (402956) | (54.5) |
|  Integral Diagnostics Ltd. | (4712) | (10674) | (1.4) |
|  Jervois Global Ltd. | (435872) | (75926) | (10.3) |
|  Leo Lithium Ltd. | (103393) | (45102) | (6.1) |
|  Megaport Ltd. | (13842) | (57572) | (7.8) |
|  Mincor Resources NL | (7103) | (7681) | (1.0) |
|  nib holdings Ltd. | (7295) | (40667) | (5.5) |
|  Omni Bridgeway Ltd. | (37884) | (108760) | (14.7) |
|  Select Harvests Ltd. | (13225) | (37430) | (5.1) |
|  Sigma Healthcare Ltd. | (78283) | (35180) | (4.8) |
|  Super Retail Group Ltd. | (14152) | (127709) | (17.3) |
|  United Malt Group Ltd. | (140843) | (364180) | (49.2) |
|  |  | (2976169) |  |
| **Austria** |  |  |  |
|  CA Immobilien Anlagen AG | (5856) | (182639) | (24.7) |
|  EVN AG | (4219) | (89023) | (12.0) |
|  Semperit AG Holding | (16397) | (402720) | (54.5) |
|  |  | (674382) |  |
| **Bahamas** |  |  |  |
|  OneSpaWorld Holdings Ltd. | (6853) | (72025) | (9.7) |
| **Belgium** |  |  |  |
|  Aedifica SA | (2151) | (188755) | (25.5) |
|  Bekaert SA | (8830) | (372493) | (50.4) |
|  bpost SA | (22370) | (121278) | (16.4) |
|  Cofinimmo SA | (1272) | (115700) | (15.6) |
|  Deme Group NV | (282) | (36489) | (4.9) |
|  Intervest Offices & Warehouses NV | (323) | (7058) | (1.0) |
|  Kinepolis Group NV | (9728) | (411793) | (55.7) |
|  Telenet Group Holding NV | (7259) | (125124) | (16.9) |
|  Tessenderlo Group SA | (1383) | (48908) | (6.6) |
|  VGP NV | (4260) | (425664) | (57.6) |
|  Xior Student Housing NV | (1358) | (45625) | (6.2) |
|  |  | (1898887) |  |
| **Bermuda** |  |  |  |
|  Cool Co. Ltd. | (5671) | (60077) | (8.1) |
|  Enstar Group Ltd. | (122) | (29561) | (4.0) |
|  Flow Traders Ltd. | (4827) | (124160) | (16.8) |
|  |  | (213798) |  |
| **Canada** |  |  |  |
|  Absolute Software Corp. | (5237) | (61008) | (8.2) |
|  Adentra, Inc. | (6318) | (152899) | (20.7) |
|  Ag Growth International, Inc. | (2964) | (110959) | (15.0) |
|  Altus Group Ltd. | (3518) | (150550) | (20.4) |
|  ATS Corp. | (4683) | (189636) | (25.6) |
|  Aurinia Pharmaceuticals, Inc. | (21658) | (196005) | (26.5) |
|  Brookfield Asset Management Ltd., Class A | (1054) | (34411) | (4.7) |
|  Brookfield Reinsurance Ltd. | (4216) | (157353) | (21.3) |
|  Canadian Western Bank | (363) | (7672) | (1.0) |
|  CES Energy Solutions Corp. | (8240) | (17960) | (2.4) |
|  Choice Properties Real Estate Investment Trust | (30841) | (346992) | (46.9) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Canada (continued)** |  |  |  |
|  Chorus Aviation, Inc. | (16054) | $(43436) | (5.9)% |
|  Cogeco, Inc. | (7520) | (335208) | (45.3) |
|  Converge Technology Solutions Corp. | (56702) | (245465) | (33.2) |
|  Crombie Real Estate Investment Trust | (1367) | (16973) | (2.3) |
|  Definity Financial Corp. | (5576) | (150238) | (20.3) |
|  Exchange Income Corp. | (14696) | (612338) | (82.8) |
|  Extendicare, Inc. | (128432) | (647686) | (87.6) |
|  Filo Mining Corp. | (30646) | (547945) | (74.1) |
|  Frontera Energy Corp. | (3341) | (30483) | (4.1) |
|  GDI Integrated Facility Services, Inc. | (4589) | (160342) | (21.7) |
|  Headwater Exploration, Inc. | (46539) | (227352) | (30.7) |
|  Home Capital Group, Inc., Class B | (2761) | (88025) | (11.9) |
|  i-80 Gold Corp. | (3944) | (10582) | (1.4) |
|  Jamieson Wellness, Inc. | (1369) | (38141) | (5.2) |
|  Lassonde Industries, Inc., Class A | (1172) | (102926) | (13.9) |
|  Maple Leaf Foods, Inc. | (23274) | (442373) | (59.8) |
|  Minto Apartment Real Estate Investment Trust | (2469) | (31434) | (4.2) |
|  Neighbourly Pharmacy, Inc. | (3053) | (46281) | (6.3) |
|  Nexus Industrial REIT | (1813) | (14648) | (2.0) |
|  North West Co., Inc. | (16434) | (447611) | (60.5) |
|  NorthWest Healthcare Properties Real Estate Investment Trust | (10229) | (77416) | (10.5) |
|  Orla Mining Ltd. | (3021) | (13033) | (1.8) |
|  Pet Valu Holdings Ltd. | (8818) | (263702) | (35.7) |
|  Premium Brands Holdings Corp., Class A | (4041) | (282571) | (38.2) |
|  Primaris Real Estate Investment Trust | (17570) | (201641) | (27.3) |
|  SilverCrest Metals, Inc. | (2205) | (14418) | (1.9) |
|  Spartan Delta Corp. | (24070) | (271897) | (36.8) |
|  Stella-Jones, Inc. | (22164) | (806569) | (109.1) |
|  StorageVault Canada, Inc. | (71607) | (346047) | (46.8) |
|  Superior Plus Corp. | (35992) | (291063) | (39.4) |
|  Timbercreek Financial Corp. | (16530) | (98766) | (13.4) |
|  Tucows, Inc., Class A | (1664) | (55195) | (7.5) |
|  Uni-Select, Inc. | (2795) | (83353) | (11.3) |
|  Uranium Energy Corp. | (6503) | (26207) | (3.5) |
|  Winpak Ltd. | (13457) | (420332) | (56.8) |
|  Xenon Pharmaceuticals, Inc. | (7406) | (289501) | (39.2) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9206643) |  |
| **Cyprus** |  |  |  |
|  Atalaya Mining PLC | (13815) | (59441) | (8.0) |
| **Denmark** |  |  |  |
|  Alm Brand A/S | (9143) | (16916) | (2.3) |
|  Netcompany Group A/S | (2942) | (117083) | (15.8) |
|  Nilfisk Holding A/S | (870) | (17317) | (2.4) |
|  NTG Nordic Transport Group A/S | (1127) | (46085) | (6.2) |
|  Ringkjoebing Landbobank A/S | (6183) | (899766) | (121.7) |
|  Scandinavian Tobacco Group A/S | (1103) | (19170) | (2.6) |
|  Topdanmark A/S | (3567) | (192538) | (26.0) |
|  Zealand Pharma A/S | (7444) | (232484) | (31.5) |
|  |  | (1541359) |  |
| **Faeroe Islands** |  |  |  |
|  Bakkafrost P/F | (137) | (8501) | (1.2) |
| **Finland** |  |  |  |
|  Aktia Bank OYJ | (20654) | (244300) | (33.0) |
|  Metsa Board OYJ, Class B | (9) | (80) | (0.0) |
|  Sanoma OYJ | (29952) | (318606) | (43.1) |

---

S C H E D U L E O F I N V E S T M E N T S 12

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Finland (continued)** |  |  |  |
|  TietoEVRY OYJ | (6837) | $(208214) | (28.2)% |
|  Tokmanni Group Corp. | (52997) | (683322) | (92.4) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1454522) |  |
| **France** |  |  |  |
|  ABC arbitrage | (5141) | (36217) | (4.9) |
|  Altarea SCA | (304) | (41433) | (5.6) |
|  Antin Infrastructure Partners SA | (19444) | (437991) | (59.2) |
|  CGG SA | (219203) | (184604) | (25.0) |
|  Chargeurs SA | (1191) | (19902) | (2.7) |
|  Etablissements Maurel et Prom SA | (2220) | (8921) | (1.2) |
|  Euroapi SA | (19024) | (305369) | (41.3) |
|  Fnac Darty SA | (7237) | (268589) | (36.3) |
|  Maisons du Monde SA | (12818) | (157634) | (21.3) |
|  Mercialys SA | (6055) | (67246) | (9.1) |
|  Metropole Television SA | (3412) | (54343) | (7.4) |
|  Societe BIC SA | (3661) | (265810) | (35.9) |
|  Trigano SA | (3261) | (454565) | (61.5) |
|  Voltalia SA, Registered Shares | (11021) | (208597) | (28.2) |
|  |  | (2511221) |  |
| **Germany** |  |  |  |
|  About You Holding SE | (35785) | (235245) | (31.8) |
|  Auto1 Group SE | (31447) | (254767) | (34.5) |
|  BayWa AG | (7006) | (319521) | (43.2) |
|  CECONOMY AG | (79061) | (193896) | (26.2) |
|  Cewe Stiftung & Co. KGAA | (816) | (80880) | (10.9) |
|  CompuGroup Medical SE & Co. KgaA | (1468) | (68801) | (9.3) |
|  Energiekontor AG | (953) | (81765) | (11.1) |
|  Hamborner REIT AG | (26993) | (211272) | (28.6) |
|  Hamburger Hafen und Logistik AG | (13601) | (192092) | (26.0) |
|  Indus Holding AG | (7481) | (197791) | (26.7) |
|  Instone Real Estate Group SE | (7254) | (74021) | (10.0) |
|  Jenoptik AG | (3967) | (123287) | (16.7) |
|  JOST Werke AG | (3788) | (219327) | (29.7) |
|  Medios AG | (1521) | (29821) | (4.0) |
|  Norma Group SE | (467) | (10017) | (1.3) |
|  Sirius Real Estate Ltd. | (43108) | (44908) | (6.1) |
|  Software AG | (5303) | (147797) | (20.0) |
|  Suedzucker AG | (8532) | (138416) | (18.7) |
|  Wuestenrot & Wuerttembergische AG | (5177) | (94516) | (12.8) |
|  |  | (2718140) |  |
| **Hong Kong** |  |  |  |
|  SUNeVision Holdings Ltd. | (1000) | (580) | (0.1) |
| **Ireland** |  |  |  |
|  C&C Group PLC | (427106) | (848789) | (114.8) |
|  Cairn Homes PLC | (143229) | (152260) | (20.6) |
|  Keywords Studios PLC | (1344) | (47206) | (6.4) |
|  Origin Enterprises PLC | (2425) | (10994) | (1.5) |
|  |  | (1059249) |  |
| **Israel** |  |  |  |
|  Clal Insurance Enterprises Holdings Ltd. | (9863) | (169352) | (22.9) |
|  Doral Group Renewable Energy Resources Ltd. | (104434) | (259070) | (35.0) |
|  Electra Consumer Products 1970 Ltd. | (1062) | (31344) | (4.2) |
|  Electra Real Estate Ltd. | (775) | (8713) | (1.2) |
|  Gilat Satellite Networks Ltd. | (8726) | (47274) | (6.4) |
|  Infinya Ltd. | (115) | (11968) | (1.6) |
|  Innovid Corp. | (18679) | (42028) | (5.7) |
|  Isracard Ltd. | (20487) | (69062) | (9.3) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Israel (continued)** |  |  |  |
|  JFrog Ltd. | (46348) | $(1191607) | (161.2)% |
|  Naphtha Israel Petroleum Corp. Ltd. | (29630) | (152223) | (20.6) |
|  Perion Network Ltd. | (453) | (15237) | (2.1) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1997878) |  |
| **Italy** |  |  |  |
|  Ariston Holding NV | (4881) | (50517) | (6.8) |
|  Banca Farmafactoring SpA | (4301) | (39776) | (5.4) |
|  Credito Emiliano SpA | (10874) | (92612) | (12.5) |
|  Digital Bros SpA | (7159) | (169360) | (22.9) |
|  doValue SpA | (44370) | (361441) | (48.9) |
|  Enav SpA | (29541) | (136005) | (18.4) |
|  Fila SpA | (2179) | (16951) | (2.3) |
|  Gruppo MutuiOnline SpA | (3732) | (118936) | (16.1) |
|  GVS SpA | (39565) | (209042) | (28.3) |
|  Illimity Bank SpA | (8645) | (70936) | (9.6) |
|  Industrie De Nora SpA | (2726) | (50737) | (6.8) |
|  MFE-MediaForEurope NV, Class A | (788625) | (345612) | (46.7) |
|  Technogym SpA | (29523) | (261867) | (35.4) |
|  Technoprobe SpA | (13243) | (97344) | (13.2) |
|  |  | (2021136) |  |
| **Japan** |  |  |  |
|  77 Bank Ltd. | (1600) | (28575) | (3.9) |
|  ADEKA Corp. | (20700) | (350270) | (47.4) |
|  Aeon Hokkaido Corp. | (41900) | (294072) | (39.8) |
|  Aichi Financial Group, Inc. | (8700) | (155386) | (21.0) |
|  Airtrip Corp. | (16700) | (342621) | (46.3) |
|  Alpha Systems, Inc. | (1200) | (38902) | (5.3) |
|  Appier Group, Inc. | (24000) | (306852) | (41.5) |
|  ARCLANDS Corp. | (35200) | (396597) | (53.6) |
|  Arcs Co. Ltd. | (2300) | (38868) | (5.3) |
|  ARTERIA Networks Corp. | (11800) | (114014) | (15.4) |
|  Asahi Holdings, Inc. | (23800) | (374453) | (50.6) |
|  Atom Corp. | (38200) | (233684) | (31.6) |
|  Awa Bank Ltd. | (8600) | (144733) | (19.6) |
|  Axial Retailing, Inc. | (7100) | (192498) | (26.0) |
|  Belc Co. Ltd. | (2500) | (107718) | (14.6) |
|  BML, Inc. | (8700) | (216337) | (29.3) |
|  Bushiroad, Inc. | (12600) | (66000) | (8.9) |
|  CellSource Co. Ltd. | (5100) | (143910) | (19.5) |
|  Chiyoda Corp. | (102300) | (304148) | (41.1) |
|  Chofu Seisakusho Co. Ltd. | (5100) | (83004) | (11.2) |
|  Colowide Co. Ltd. | (12000) | (169988) | (23.0) |
|  CYBERDYNE, Inc. | (16300) | (38482) | (5.2) |
|  Daiho Corp. | (1900) | (53647) | (7.3) |
|  Daikokutenbussan Co. Ltd. | (8000) | (335056) | (45.3) |
|  Daishi Hokuetsu Financial Group, Inc. | (10900) | (260055) | (35.2) |
|  Daiwabo Holdings Co. Ltd. | (11800) | (178604) | (24.2) |
|  DCM Holdings Co. Ltd. | (13100) | (119217) | (16.1) |
|  Demae-Can Co. Ltd. | (207400) | (687637) | (93.0) |
|  Dexerials Corp. | (2300) | (49165) | (6.6) |
|  Direct Marketing MiX, Inc. | (600) | (7631) | (1.0) |
|  Duskin Co. Ltd. | (3100) | (72452) | (9.8) |
|  Earth Corp. | (2400) | (93701) | (12.7) |
|  EDION Corp. | (22500) | (222230) | (30.1) |
|  EM Systems Co. Ltd. | (26900) | (195310) | (26.4) |
|  ES-Con Japan Ltd. | (47500) | (307048) | (41.5) |
|  Exedy Corp. | (42800) | (575708) | (77.9) |
|  Fuji Seal International, Inc. | (16700) | (217043) | (29.4) |
|  Fuji Soft, Inc. | (3100) | (185031) | (25.0) |

---

13.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Fujicco Co. Ltd. | (9000) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(130883) | (17.7)% |
|  Fujio Food Group, Inc. | (21000) | (228673) | (30.9) |
|  Fukushima Galilei Co. Ltd. | (6100) | (207062) | (28.0) |
|  GLOBERIDE, Inc. | (8700) | (178375) | (24.1) |
|  Glory Ltd. | (30600) | (535197) | (72.4) |
|  GMO Financial Gate, Inc. | (3800) | (243292) | (32.9) |
|  GMO Financial Holdings, Inc. | (28100) | (119515) | (16.2) |
|  GMO GlobalSign Holdings KK | (11400) | (379971) | (51.4) |
|  Gunze Ltd. | (600) | (19759) | (2.7) |
|  Hakuto Co. Ltd. | (4700) | (164525) | (22.2) |
|  Hanwa Co. Ltd. | (1900) | (60498) | (8.2) |
|  Heiwa Real Estate REIT, Inc. | (62) | (72106) | (9.7) |
|  Hirata Corp. | (2900) | (143483) | (19.4) |
|  Hokuetsu Corp. | (153900) | (990723) | (134.0) |
|  Hokuhoku Financial Group, Inc. | (6200) | (49104) | (6.6) |
|  Hokuto Corp. | (10300) | (149707) | (20.2) |
|  Hoshino Resorts REIT, Inc. | (14) | (80205) | (10.8) |
|  Hyakugo Bank Ltd. | (165200) | (533535) | (72.2) |
|  Ichibanya Co. Ltd. | (6000) | (218316) | (29.5) |
|  Idec Corp. | (8000) | (190494) | (25.8) |
|  Inabata & Co. Ltd. | (1000) | (19411) | (2.6) |
|  Inageya Co. Ltd. | (24700) | (247004) | (33.4) |
|  IR Japan Holdings Ltd. | (3400) | (47929) | (6.5) |
|  Iriso Electronics Co. Ltd. | (2800) | (93962) | (12.7) |
|  Itochu Advance Logistics Investment Corp. | (375) | (403379) | (54.6) |
|  Itochu Enex Co. Ltd. | (3500) | (30000) | (4.1) |
|  Itochu-Shokuhin Co. Ltd. | (2800) | (108670) | (14.7) |
|  J Trust Co. Ltd. | (25700) | (112878) | (15.3) |
|  Jaccs Co. Ltd. | (3200) | (103232) | (14.0) |
|  Japan Display, Inc. | (27300) | (9270) | (1.3) |
|  Japan Elevator Service Holdings Co. Ltd. | (2900) | (40940) | (5.5) |
|  JDC Corp. | (3700) | (15847) | (2.1) |
|  J-Oil Mills, Inc. | (18300) | (222307) | (30.1) |
|  JTOWER, Inc. | (300) | (14369) | (1.9) |
|  Kameda Seika Co. Ltd. | (12100) | (409240) | (55.3) |
|  Kanamoto Co. Ltd. | (2500) | (43482) | (5.9) |
|  Kanto Denka Kogyo Co. Ltd. | (2700) | (20960) | (2.8) |
|  Kappa Create Co. Ltd. | (31500) | (343987) | (46.5) |
|  Keiyo Bank Ltd. | (32400) | (153897) | (20.8) |
|  Keiyo Co. Ltd. | (62300) | (430410) | (58.2) |
|  KH Neochem Co. Ltd. | (14400) | (306926) | (41.5) |
|  Kisoji Co. Ltd. | (37600) | (622047) | (84.1) |
|  Ki-Star Real Estate Co. Ltd. | (10700) | (407049) | (55.0) |
|  Kiyo Bank Ltd. | (31800) | (404228) | (54.7) |
|  Kohnan Shoji Co. Ltd. | (10600) | (273092) | (36.9) |
|  Komeri Co. Ltd. | (16800) | (344634) | (46.6) |
|  Konishi Co. Ltd. | (15200) | (215470) | (29.1) |
|  Kura Sushi, Inc. | (2100) | (48789) | (6.6) |
|  KYB Corp. | (14900) | (422254) | (57.1) |
|  Leopalace21 Corp. | (8800) | (21841) | (3.0) |
|  LITALICO, Inc. | (10600) | (216397) | (29.3) |
|  Management Solutions Co. Ltd. | (9700) | (263509) | (35.6) |
|  Maruha Nichiro Corp. | (28200) | (535462) | (72.4) |
|  MARUKA FURUSATO Corp. | (2000) | (53801) | (7.3) |
|  Medley, Inc. | (12600) | (446460) | (60.4) |
|  Meiko Electronics Co. Ltd. | (20200) | (452827) | (61.2) |
|  Micronics Japan Co. Ltd. | (8000) | (85814) | (11.6) |
|  Mitani Sekisan Co. Ltd. | (3200) | (104554) | (14.1) |
|  Mitsubishi Estate Logistics REIT Investment Corp. | (42) | (132019) | (17.9) |
|  Mitsubishi Research Institute, Inc. | (4900) | (190650) | (25.8) |
|  Mizuno Corp. | (3500) | (79413) | (10.7) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Modec, Inc. | (5500) | $(59862) | (8.1)% |
|  Mori Trust Hotel REIT, Inc. | (83) | (85982) | (11.6) |
|  Musashi Seimitsu Industry Co. Ltd. | (25300) | (348668) | (47.2) |
|  Nachi-Fujikoshi Corp. | (3200) | (96753) | (13.1) |
|  Nafco Co. Ltd. | (16900) | (212010) | (28.7) |
|  Nagawa Co. Ltd. | (1400) | (86079) | (11.6) |
|  Nanto Bank Ltd. | (400) | (8297) | (1.1) |
|  Nippon Carbon Co. Ltd. | (6200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(211146) | (28.6) |
|  Nippon Kanzai Co. Ltd. | (1600) | (31510) | (4.3) |
|  Nishio Rent All Co. Ltd. | (7500) | (180921) | (24.5) |
|  Nissha Co. Ltd. | (17500) | (260374) | (35.2) |
|  Nojima Corp. | (10000) | (107349) | (14.5) |
|  Noritz Corp. | (3300) | (38150) | (5.2) |
|  NS United Kaiun Kaisha Ltd. | (12500) | (376457) | (50.9) |
|  NTT UD REIT Investment Corp. | (203) | (207036) | (28.0) |
|  Ogaki Kyoritsu Bank Ltd. | (28900) | (433338) | (58.6) |
|  Oisix ra daichi, Inc. | (11700) | (197445) | (26.7) |
|  Okasan Securities Group, Inc. | (49000) | (158486) | (21.4) |
|  One REIT, Inc. | (81) | (153538) | (20.8) |
|  Open Door, Inc. | (9100) | (128575) | (17.4) |
|  Optorun Co. Ltd. | (12400) | (244696) | (33.1) |
|  Organo Corp. | (12200) | (310116) | (41.9) |
|  Osaka Soda Co. Ltd. | (2200) | (71905) | (9.7) |
|  Outsourcing, Inc. | (38500) | (299191) | (40.5) |
|  Pacific Industrial Co. Ltd. | (32100) | (266109) | (36.0) |
|  Raksul, Inc. | (11200) | (121243) | (16.4) |
|  Retail Partners Co. Ltd. | (7900) | (83208) | (11.3) |
|  Riken Keiki Co. Ltd. | (7100) | (253269) | (34.3) |
|  Riken Vitamin Co. Ltd. | (2400) | (35579) | (4.8) |
|  Ringer Hut Co. Ltd. | (700) | (12212) | (1.6) |
|  Riso Kagaku Corp. | (7400) | (123467) | (16.7) |
|  Roland Corp. | (6800) | (203033) | (27.5) |
|  Rorze Corp. | (2200) | (169108) | (22.9) |
|  Ryosan Co. Ltd. | (6000) | (135972) | (18.4) |
|  Ryoyo Electro Corp. | (3000) | (53624) | (7.3) |
|  Saibu Gas Holdings Co. Ltd. | (12500) | (176710) | (23.9) |
|  Sakata INX Corp. | (18300) | (154210) | (20.9) |
|  SAMTY Co. Ltd. | (2800) | (44224) | (6.0) |
|  Samty Residential Investment Corp. | (90) | (75465) | (10.2) |
|  San-Ai Oil Co. Ltd. | (7900) | (82193) | (11.1) |
|  SanBio Co. Ltd. | (24400) | (139757) | (18.9) |
|  San-In Godo Bank Ltd. | (7500) | (46651) | (6.3) |
|  Sanki Engineering Co. Ltd. | (6000) | (72043) | (9.7) |
|  Sanyo Denki Co. Ltd. | (5000) | (242388) | (32.8) |
|  SBS Holdings, Inc. | (9500) | (216931) | (29.3) |
|  Sekisui Jushi Corp. | (600) | (9107) | (1.2) |
|  Senko Group Holdings Co. Ltd. | (14400) | (111382) | (15.1) |
|  Seria Co. Ltd. | (400) | (8790) | (1.2) |
|  Shibuya Corp. | (3900) | (76052) | (10.3) |
|  Shiga Bank Ltd. | (8300) | (172763) | (23.4) |
|  Shima Seiki Manufacturing Ltd. | (4600) | (69685) | (9.4) |
|  Shin Nippon Biomedical Laboratories Ltd. | (12100) | (217829) | (29.5) |
|  Showa Sangyo Co. Ltd. | (6000) | (117055) | (15.8) |
|  Siix Corp. | (6500) | (70247) | (9.5) |
|  Simplex Holdings, Inc. | (25200) | (442690) | (59.9) |
|  SRE Holdings Corp. | (14000) | (445120) | (60.2) |
|  T Hasegawa Co. Ltd. | (2400) | (58754) | (7.9) |
|  Takasago International Corp. | (6900) | (136836) | (18.5) |
|  TKP Corp. | (7000) | (165943) | (22.4) |
|  Toa Corp. | (17300) | (335140) | (45.3) |
|  Toagosei Co. Ltd. | (15500) | (140662) | (19.0) |
|  TOC Co. Ltd. | (9100) | (47692) | (6.4) |

---

S C H E D U L E O F I N V E S T M E N T S 14

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Toei Co. Ltd. | (100) | $(13221) | (1.8)% |
|  Toho Bank Ltd. | (121500) | (225536) | (30.5) |
|  Tokai Tokyo Financial Holdings, Inc. | (16900) | (49258) | (6.7) |
|  Tokushu Tokai Paper Co. Ltd. | (10400) | (233037) | (31.5) |
|  Tokuyama Corp. | (26200) | (383298) | (51.8) |
|  TOMONY Holdings, Inc. | (117200) | (359969) | (48.7) |
|  Tomy Co. Ltd. | (44500) | (439184) | (59.4) |
|  Topre Corp. | (13600) | (132667) | (17.9) |
|  Toyo Gosei Co. Ltd. | (4000) | (285502) | (38.6) |
|  Trancom Co. Ltd. | (1200) | (68757) | (9.3) |
|  TRE Holdings Corp. | (2700) | (30425) | (4.1) |
|  Tsugami Corp. | (4800) | (53138) | (7.2) |
|  TV Asahi Holdings Corp. | (2200) | (22768) | (3.1) |
|  West Holdings Corp. | (14100) | (422796) | (57.2) |
|  WingArc1st, Inc. | (5900) | (89653) | (12.1) |
|  W-Scope Corp. | (1800) | (20183) | (2.7) |
|  YAMABIKO Corp. | (5900) | (51657) | (7.0) |
|  Yokohama Reito Co. Ltd. | (13800) | (116233) | (15.7) |
|  Yokowo Co. Ltd. | (18800) | (325164) | (44.0) |
|  Yonex Co. Ltd. | (6600) | (64546) | (8.7) |
|  Zojirushi Corp. | (22600) | (288969) | (39.1) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(34211468) |  |
| **Jersey** |  |  |  |
|  Centamin PLC | (45125) | (61860) | (8.4) |
| **Luxembourg** |  |  |  |
|  Befesa SA | (6207) | (356041) | (48.2) |
| **Malta** |  |  |  |
|  Kindred Group PLC | (1026) | (10339) | (1.4) |
| **Netherlands** |  |  |  |
|  AMG Advanced Metallurgical Group NV | (1323) | (51680) | (7.0) |
|  Arcadis NV | (2846) | (123575) | (16.7) |
|  Core Laboratories NV | (423) | (10829) | (1.5) |
|  Koninklijke BAM Groep NV | (13104) | (33397) | (4.5) |
|  NSI NV | (5854) | (152740) | (20.7) |
|  TKH Group NV | (1328) | (60271) | (8.1) |
|  |  | (432492) |  |
| **Norway** |  |  |  |
|  Aker Carbon Capture ASA | (42177) | (62515) | (8.5) |
|  Bonheur ASA | (3826) | (102151) | (13.8) |
|  Crayon Group Holding ASA | (39273) | (395555) | (53.5) |
|  Europris ASA | (56827) | (366113) | (49.5) |
|  FREYR Battery SA | (1359) | (11973) | (1.6) |
|  Hexagon Composites ASA | (9085) | (30634) | (4.2) |
|  Hexagon Purus ASA | (54964) | (144632) | (19.6) |
|  Norske Skog ASA | (7130) | (49099) | (6.6) |
|  |  | (1162672) |  |
| **Portugal** |  |  |  |
|  Altri SGPS SA | (40878) | (206394) | (27.9) |
|  Corticeira Amorim SGPS SA | (6254) | (61803) | (8.4) |
|  Greenvolt-Energias Renovaveis SA | (69899) | (585976) | (79.2) |
|  Navigator Co. SA | (3059) | (10710) | (1.5) |
|  |  | (864883) |  |
| **Singapore** |  |  |  |
|  BW Energy Ltd. | (40302) | (113230) | (15.3) |
|  TDCX, Inc. | (27093) | (357086) | (48.3) |
|  Yanlord Land Group Ltd. | (1600) | (1355) | (0.2) |
|  |  | (471671) |  |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Spain** |  |  |  |
|  Construcciones y Auxiliar de Ferrocarriles SA | (1480) | $(47666) | (6.4)% |
|  Gestamp Automocion SA | (7420) | (32762) | (4.4) |
|  Global Dominion Access SA | (16299) | (69890) | (9.5) |
|  Grenergy Renovables SA | (1264) | (45749) | (6.2) |
|  Grupo Catalana Occidente SA | (1433) | (44418) | (6.0) |
|  Linea Directa Aseguradora SA Cia de Seguros y Reaseguros | (13298) | (13859) | (1.9) |
|  Opdenergy Holdings SA | (3316) | (15970) | (2.2) |
|  Soltec Power Holdings SA | (54560) | (332446) | (45.0) |
|  Talgo SA | (10590) | (42999) | (5.8) |
|  Vidrala SA | (231) | (23302) | (3.1) |
|  Viscofan SA | (2277) | (146754) | (19.8) |
|  |  | (815815) |  |
| **Sweden** |  |  |  |
|  AcadeMedia AB | (77109) | (363192) | (49.1) |
|  Beijer Alma AB | (873) | (17280) | (2.3) |
|  Bilia AB, A Shares | (17664) | (204097) | (27.6) |
|  Billerud AB | (12683) | (147341) | (19.9) |
|  Boozt AB | (4395) | (57114) | (7.7) |
|  Cint Group AB | (34493) | (129467) | (17.5) |
|  Clas Ohlson AB, B Shares | (22039) | (146954) | (19.9) |
|  Coor Service Management Holding AB | (13722) | (87675) | (11.9) |
|  Dometic Group AB | (15823) | (99718) | (13.5) |
|  Duni AB | (7137) | (61791) | (8.4) |
|  Dustin Group AB | (12294) | (41436) | (5.6) |
|  Electrolux Professional AB, Class B | (17398) | (81068) | (11.0) |
|  Granges AB | (34851) | (291507) | (39.4) |
|  Hemnet Group AB | (3289) | (45792) | (6.2) |
|  Hexpol AB | (25060) | (270720) | (36.6) |
|  Hufvudstaden AB, A Shares | (38409) | (578445) | (78.2) |
|  Instalco AB | (22845) | (88368) | (12.0) |
|  JM AB | (4048) | (75463) | (10.2) |
|  KNOW IT AB | (5888) | (115081) | (15.6) |
|  Lindab International AB | (4812) | (68250) | (9.2) |
|  MEKO AB | (6035) | (66888) | (9.0) |
|  Munters Group AB | (13874) | (133025) | (18.0) |
|  New Wave Group AB, B Shares | (5676) | (127717) | (17.3) |
|  Resurs Holding AB | (2729) | (7267) | (1.0) |
|  Rvrc Holding AB | (37432) | (127400) | (17.2) |
|  Stillfront Group AB | (23338) | (40732) | (5.5) |
|  Viaplay Group AB, Class B | (3969) | (97996) | (13.3) |
|  Wallenstam AB, B Shares | (33855) | (155417) | (21.0) |
|  Wihlborgs Fastigheter AB | (42517) | (350048) | (47.3) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4077249) |  |
| **Switzerland** |  |  |  |
|  ALSO Holding AG, Registered Shares | (2186) | (445276) | (60.2) |
|  Bucher Industries AG, Registered Shares | (337) | (153560) | (20.8) |
|  Bystronic AG | (301) | (226183) | (30.6) |
|  Daetwyler Holding AG | (1869) | (396389) | (53.6) |
|  dormakaba Holding AG | (1383) | (577785) | (78.1) |
|  Forbo Holding AG, Registered Shares | (162) | (213148) | (28.8) |
|  Interroll Holding AG, Registered Shares | (40) | (124595) | (16.8) |
|  Komax Holding AG, Registered Shares | (474) | (155953) | (21.1) |
|  Metall Zug AG, Registered Shares | (5) | (11251) | (1.5) |
|  Mobimo Holding AG, Registered Shares | (45) | (11571) | (1.6) |
|  OC Oerlikon Corp. AG, Registered Shares | (2178) | (14905) | (2.0) |
|  Peach Property Group AG | (4394) | (95108) | (12.9) |
|  PolyPeptide Group AG | (1571) | (45643) | (6.2) |
|  SFS Group AG | (1279) | (147155) | (19.9) |
|  Siegfried Holding AG, Registered Shares | (35) | (25712) | (3.5) |

---

15.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Switzerland (continued)** |  |  |  |
|  SKAN Group AG | (1436) | $(106818) | (14.4)% |
|  Softwareone Holding AG | (23741) | (383331) | (51.8) |
|  Stadler Rail AG | (185) | (7076) | (1.0) |
|  TX Group AG | (252) | (39509) | (5.3) |
|  Valiant Holding AG, Registered Shares | (2660) | (303939) | (41.1) |
|  Zehnder Group AG | (1506) | (112089) | (15.2) |
|  Zur Rose Group AG | (11225) | (423507) | (57.3) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4020503) |  |
| **United Kingdom** |  |  |  |
|  AO World PLC | (272665) | (211441) | (28.6) |
|  Assura PLC | (644612) | (443051) | (59.9) |
|  Aston Martin Lagonda Global Holdings PLC | (83110) | (169833) | (23.0) |
|  Auction Technology Group PLC | (10322) | (89587) | (12.1) |
|  Balfour Beatty PLC | (78896) | (356386) | (48.2) |
|  Bridgepoint Group PLC, Registered Shares | (5892) | (17486) | (2.4) |
|  Capita PLC | (23784) | (8204) | (1.1) |
|  Close Brothers Group PLC | (30628) | (365892) | (49.5) |
|  Coats Group PLC | (164790) | (148179) | (20.0) |
|  Cranswick PLC | (7971) | (312697) | (42.3) |
|  Deliveroo PLC, Class A | (73719) | (84486) | (11.4) |
|  Dixons Carphone PLC | (78770) | (63279) | (8.6) |
|  Energean PLC | (1528) | (21946) | (3.0) |
|  Essentra PLC | (6492) | (17349) | (2.3) |
|  Firstgroup PLC | (57161) | (76390) | (10.3) |
|  GB Group PLC | (4877) | (21268) | (2.9) |
|  Grainger PLC | (6687) | (21402) | (2.9) |
|  Greatland Gold PLC | (2468683) | (232525) | (31.4) |
|  Halfords Group PLC | (41458) | (104881) | (14.2) |
|  Helios Towers PLC | (14373) | (18960) | (2.6) |
|  Hill & Smith PLC | (666) | (10346) | (1.4) |
|  Home Reit PLC | (319295) | (149781) | (20.3) |
|  IP Group PLC | (118320) | (88981) | (12.0) |
|  John Wood Group PLC | (21405) | (37525) | (5.1) |
|  Just Group PLC | (92937) | (94011) | (12.7) |
|  Kape Technologies PLC | (112196) | (345802) | (46.8) |
|  Keller Group PLC | (15208) | (151681) | (20.5) |
|  Kier Group PLC | (46642) | (39389) | (5.3) |
|  Liontrust Asset Management PLC | (7161) | (102602) | (13.9) |
|  LondonMetric Property PLC | (14325) | (33378) | (4.5) |
|  Marlowe PLC | (8516) | (52705) | (7.1) |
|  Mitie Group PLC | (587752) | (565196) | (76.4) |
|  Molten Ventures PLC | (93492) | (413605) | (55.9) |
|  NCC Group PLC | (29300) | (67838) | (9.2) |
|  Pagegroup PLC | (3741) | (21060) | (2.8) |
|  Petrofac Ltd. | (418541) | (429310) | (58.1) |
|  Renewi PLC | (23432) | (189852) | (25.7) |
|  S4 Capital PLC | (34966) | (94455) | (12.8) |
|  Serica Energy PLC | (22825) | (71425) | (9.7) |
|  Spire Healthcare Group PLC | (4874) | (14602) | (2.0) |
|  Synthomer PLC | (23230) | (44850) | (6.1) |
|  Target Healthcare REIT PLC | (21992) | (21961) | (3.0) |
|  TI Fluid Systems PLC | (102707) | (150680) | (20.4) |
|  Tullow Oil PLC | (601367) | (267800) | (36.2) |
|  Urban Logistics REIT PLC | (73289) | (129658) | (17.5) |
|  Volex PLC | (11611) | (36502) | (4.9) |
|  Wincanton PLC | (48309) | (176291) | (23.8) |
|  Yellow Cake PLC | (50401) | (259676) | (35.1) |
|  |  | (6846204) |  |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States** |  |  |  |
|  23andMe Holding Co., Class A | (69639) | $(174097) | (23.5)% |
|  3D Systems Corp. | (16029) | (174075) | (23.5) |
|  908 Devices, Inc. | (6554) | (61083) | (8.3) |
|  ABM Industries, Inc. | (3543) | (166202) | (22.5) |
|  Accolade, Inc. | (16209) | (189159) | (25.6) |
|  Aclaris Therapeutics, Inc. | (1150) | (19435) | (2.6) |
|  ACM Research, Inc., Class A | (9612) | (120054) | (16.2) |
|  ACV Auctions, Inc., Class A | (47041) | (461002) | (62.3) |
|  AdaptHealth Corp., Class A | (3336) | (71490) | (9.7) |
|  Addus HomeCare Corp. | (880) | (94618) | (12.8) |
|  Adicet Bio, Inc. | (10850) | (99278) | (13.4) |
|  ADTRAN Holdings, Inc. | (3893) | (73461) | (9.9) |
|  AeroVironment, Inc. | (591) | (52581) | (7.1) |
|  Aeva Technologies, Inc. | (62334) | (105344) | (14.2) |
|  Agiliti, Inc. | (27923) | (515179) | (69.7) |
|  Agilysys, Inc. | (2280) | (190517) | (25.8) |
|  Akero Therapeutics, Inc. | (479) | (23711) | (3.2) |
|  Alamo Group, Inc. | (492) | (76983) | (10.4) |
|  Alexander's, Inc. | (1595) | (378462) | (51.2) |
|  Alkami Technology, Inc. | (4660) | (76284) | (10.3) |
|  Allovir, Inc. | (3597) | (20791) | (2.8) |
|  Alpha Metallurgical Resources, Inc. | (64) | (10300) | (1.4) |
|  Altimmune, Inc. | (1445) | (19710) | (2.7) |
|  ALX Oncology Holdings, Inc. | (649) | (6036) | (0.8) |
|  AMC Networks, Inc., Class A | (7966) | (147451) | (19.9) |
|  Amerant Bancorp, Inc. | (8077) | (224864) | (30.4) |
|  Ameresco, Inc., Class A | (2748) | (177164) | (24.0) |
|  American States Water Co. | (4666) | (439397) | (59.4) |
|  American Well Corp., Class A | (18242) | (72421) | (9.8) |
|  America's Car-Mart, Inc. | (4600) | (396244) | (53.6) |
|  Amicus Therapeutics, Inc. | (8358) | (108988) | (14.7) |
|  AMMO, Inc. | (19457) | (48253) | (6.5) |
|  Amplitude, Inc., Class A | (23922) | (343998) | (46.5) |
|  Anavex Life Sciences Corp. | (1064) | (11566) | (1.6) |
|  ANI Pharmaceuticals, Inc. | (439) | (19636) | (2.7) |
|  Apartment Investment and Management Co., Class A | (3251) | (24415) | (3.3) |
|  API Group Corp. | (8138) | (180989) | (24.5) |
|  Apollo Medical Holdings, Inc. | (594) | (21170) | (2.9) |
|  Appfolio, Inc., Class A | (401) | (45044) | (6.1) |
|  Appian Corp., Class A | (4006) | (165708) | (22.4) |
|  Arcellx, Inc. | (4170) | (139320) | (18.8) |
|  Arcosa, Inc. | (969) | (57433) | (7.8) |
|  Arcturus Therapeutics Holdings, Inc. | (13695) | (289375) | (39.1) |
|  Arcutis Biotherapeutics, Inc. | (13869) | (229809) | (31.1) |
|  Ares Commercial Real Estate Corp. | (31146) | (382473) | (51.7) |
|  Argan, Inc. | (7928) | (309113) | (41.8) |
|  Atea Pharmaceuticals, Inc. | (21109) | (97735) | (13.2) |
|  Atlanticus Holdings Corp. | (464) | (15080) | (2.0) |
|  Avanos Medical, Inc. | (904) | (27699) | (3.7) |
|  Avid Technology, Inc. | (5148) | (156036) | (21.1) |
|  Avista Corp. | (10366) | (413603) | (55.9) |
|  Axsome Therapeutics, Inc. | (9676) | (725700) | (98.1) |
|  Babcock & Wilcox Enterprises, Inc. | (74154) | (492383) | (66.6) |
|  Balchem Corp. | (1161) | (151661) | (20.5) |
|  Bank of Hawaii Corp. | (1238) | (94695) | (12.8) |
|  Banner Corp. | (16060) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1041170) | (140.8) |
|  BARK, Inc. | (14017) | (28174) | (3.8) |
|  Barnes Group, Inc. | (15209) | (673150) | (91.0) |
|  Barrett Business Services, Inc. | (1357) | (134859) | (18.2) |
|  Beauty Health Co. | (45493) | (518620) | (70.1) |

---

S C H E D U L E O F I N V E S T M E N T S 16

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  BellRing Brands, Inc. | (488) | $(13840) | (1.9)% |
|  Benson Hill, Inc. | (2874) | (7702) | (1.0) |
|  Berkshire Hills Bancorp, Inc. | (6378) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(198037) | (26.8) |
|  BigCommerce Holdings, Inc., Series 1 | (15459) | (189527) | (25.6) |
|  BioCryst Pharmaceuticals, Inc. | (16297) | (171933) | (23.3) |
|  Bionano Genomics, Inc. | (6262) | (11334) | (1.5) |
|  Bioventus, Inc., Class A | (681) | (1335) | (0.2) |
|  Bioxcel Therapeutics, Inc. | (4070) | (116076) | (15.7) |
|  Bloomin' Brands, Inc. | (22145) | (537016) | (72.6) |
|  Boston Omaha Corp., Class A | (15659) | (414181) | (56.0) |
|  Brady Corp., Class A | (2070) | (110683) | (15.0) |
|  Braze, Inc., Class A | (11555) | (369760) | (50.0) |
|  Brightsphere Investment Group Inc. | (11310) | (265219) | (35.9) |
|  BrightSpire Capital, Inc., Class A | (2234) | (17023) | (2.3) |
|  Brinker International, Inc. | (1053) | (41551) | (5.6) |
|  Broadmark Realty Capital, Inc. | (19481) | (85327) | (11.5) |
|  BRP Group, Inc., Class A | (12089) | (346350) | (46.8) |
|  Burford Capital Ltd. | (5584) | (50186) | (6.8) |
|  Butterfly Network, Inc. | (34563) | (95048) | (12.9) |
|  C3.AI, Inc., Class A | (4452) | (88372) | (12.0) |
|  California Resources Corp. | (8555) | (365555) | (49.4) |
|  California Water Service Group | (5265) | (322060) | (43.6) |
|  Callon Petroleum Co. | (436) | (18552) | (2.5) |
|  Camping World Holdings, Inc., Class A | (1911) | (48559) | (6.6) |
|  Cano Health, Inc. | (25825) | (35639) | (4.8) |
|  Capitol Federal Financial, Inc. | (2213) | (18523) | (2.5) |
|  CareMax, Inc. | (5226) | (24510) | (3.3) |
|  Caribou Biosciences, Inc. | (15482) | (111625) | (15.1) |
|  Cars.com, Inc. | (542) | (9268) | (1.3) |
|  Cass Information Systems, Inc. | (174) | (8449) | (1.1) |
|  Cassava Sciences, Inc. | (6423) | (179844) | (24.3) |
|  Cathay General Bancorp. | (4681) | (205777) | (27.8) |
|  CCC Intelligent Solutions Holdings, Inc. | (22222) | (205553) | (27.8) |
|  Celldex Therapeutics, Inc. | (2419) | (106581) | (14.4) |
|  Centerspace | (3340) | (225851) | (30.5) |
|  Centrus Energy Corp., Class A | (1847) | (75819) | (10.3) |
|  Cerevel Therapeutics Holdings, Inc. | (11614) | (396618) | (53.6) |
|  CEVA, Inc. | (277) | (9174) | (1.2) |
|  Cheesecake Factory, Inc. | (1004) | (39407) | (5.3) |
|  Chuy's Holdings, Inc. | (2561) | (87663) | (11.9) |
|  City Holding Co. | (2390) | (226548) | (30.6) |
|  Claros Mortgage Trust, Inc. | (2347) | (39289) | (5.3) |
|  Clarus Corp. | (2605) | (26180) | (3.5) |
|  Clearwater Analytics Holdings, Inc., Class A | (400) | (7832) | (1.1) |
|  Cogent Biosciences, Inc. | (6778) | (102077) | (13.8) |
|  Cogent Communications Holdings, Inc. | (4653) | (319056) | (43.2) |
|  Columbia Financial, Inc. | (3308) | (65664) | (8.9) |
|  Community Bank System, Inc. | (2075) | (119748) | (16.2) |
|  Community Trust Bancorp, Inc. | (3914) | (168615) | (22.8) |
|  Compass Minerals International, Inc. | (5596) | (261109) | (35.3) |
|  Compass, Inc., Class A | (9997) | (40188) | (5.4) |
|  Conduent, Inc. | (18000) | (85860) | (11.6) |
|  Consensus Cloud Solutions, Inc. | (3279) | (192707) | (26.1) |
|  Coursera, Inc. | (14572) | (232423) | (31.4) |
|  CRA International, Inc. | (61) | (7249) | (1.0) |
|  Credo Technology Group Holding Ltd. | (13727) | (237889) | (32.2) |
|  Crinetics Pharmaceuticals, Inc. | (7933) | (155566) | (21.0) |
|  Cross Country Healthcare, Inc. | (1646) | (45677) | (6.2) |
|  CryoPort, Inc. | (2761) | (63034) | (8.5) |
|  CS Disco, Inc. | (9377) | (77923) | (10.5) |
|  CTI BioPharma Corp. | (38016) | (210228) | (28.4) |
|  Cullinan Oncology, Inc. | (11877) | (138248) | (18.7) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Cushman & Wakefield PLC | (14665) | $(211616) | (28.6)% |
|  Cutera, Inc. | (1955) | (68093) | (9.2) |
|  CVB Financial Corp. | (5330) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(129093) | (17.5) |
|  Cytek Biosciences, Inc. | (8321) | (100268) | (13.6) |
|  DICE Therapeutics, Inc. | (2615) | (83079) | (11.2) |
|  DocGo, Inc. | (1097) | (10970) | (1.5) |
|  Donnelley Financial Solutions, Inc. | (5652) | (257788) | (34.9) |
|  Douglas Elliman, Inc. | (59675) | (278085) | (37.6) |
|  Dril-Quip, Inc. | (3703) | (113719) | (15.4) |
|  Dynex Capital, Inc. | (16568) | (238745) | (32.3) |
|  E2open Parent Holdings, Inc. | (58465) | (403408) | (54.6) |
|  Easterly Government Properties, Inc., Class A | (1751) | (28436) | (3.8) |
|  Eastman Kodak Co. | (9598) | (34649) | (4.7) |
|  Edgewell Personal Care Co. | (31) | (1329) | (0.2) |
|  Edgio, Inc. | (2596) | (4076) | (0.6) |
|  Elme Communities | (3593) | (68986) | (9.3) |
|  Embecta Corp. | (9827) | (259335) | (35.1) |
|  Empire State Realty Trust, Inc., Class A | (35222) | (293751) | (39.7) |
|  Encore Capital Group, Inc. | (4362) | (243051) | (32.9) |
|  Energizer Holdings, Inc. | (16840) | (624764) | (84.5) |
|  Energy Recovery, Inc. | (3069) | (67917) | (9.2) |
|  Energy Vault Holdings, Inc. | (27299) | (115748) | (15.7) |
|  EnerSys | (2105) | (174757) | (23.6) |
|  Enovix Corp. | (16455) | (130653) | (17.7) |
|  EnPro Industries, Inc. | (904) | (109447) | (14.8) |
|  Enterprise Financial Services Corp. | (3684) | (196431) | (26.6) |
|  Esab Corp. | (4520) | (261301) | (35.3) |
|  ESS Tech, Inc. | (6478) | (14316) | (1.9) |
|  Essential Properties Realty Trust, Inc. | (889) | (22652) | (3.1) |
|  European Wax Center, Inc., Class A | (2140) | (40318) | (5.5) |
|  EverCommerce, Inc. | (18597) | (192107) | (26.0) |
|  Evolent Health, Inc., Class A | (656) | (21136) | (2.9) |
|  Evolus, Inc. | (26379) | (274078) | (37.1) |
|  Expro Group Holdings NV | (15840) | (299218) | (40.5) |
|  F45 Training Holdings, Inc. | (9702) | (30076) | (4.1) |
|  Farmland Partners, Inc. | (18943) | (243986) | (33.0) |
|  Federal Signal Corp. | (4783) | (254695) | (34.4) |
|  Figs, Inc., Class A | (19132) | (171231) | (23.2) |
|  First Advantage Corp. | (609) | (8453) | (1.1) |
|  First Bancorp/Southern Pines | (6985) | (278352) | (37.6) |
|  First Merchants Corp. | (14060) | (599518) | (81.1) |
|  Flywire Corp. | (7884) | (212631) | (28.8) |
|  Focus Financial Partners, Inc., Class A | (4379) | (197712) | (26.7) |
|  Four Corners Property Trust, Inc. | (3777) | (108627) | (14.7) |
|  Franchise Group, Inc. | (7917) | (244556) | (33.1) |
|  Freshpet, Inc. | (3299) | (208926) | (28.3) |
|  fuboTV, Inc. | (15542) | (39943) | (5.4) |
|  Funko, Inc., Class A | (34723) | (420148) | (56.8) |
|  Gates Industrial Corp. PLC | (19002) | (251016) | (33.9) |
|  Genworth Financial, Inc., Class A | (77165) | (425951) | (57.6) |
|  German American Bancorp, Inc. | (4035) | (155428) | (21.0) |
|  Geron Corp. | (24930) | (82269) | (11.1) |
|  Getty Realty Corp. | (8679) | (316176) | (42.8) |
|  Glacier Bancorp, Inc. | (661) | (30135) | (4.1) |
|  Gladstone Commercial Corp. | (3098) | (52635) | (7.1) |
|  Gladstone Land Corp. | (3564) | (69641) | (9.4) |
|  Glaukos Corp. | (3415) | (167506) | (22.7) |
|  Global Net Lease, Inc. | (38068) | (569117) | (77.0) |
|  Globalstar, Inc. | (108525) | (153020) | (20.7) |
|  GrafTech International Ltd. | (9977) | (65250) | (8.8) |
|  Graham Holdings Co., Class B | (127) | (82970) | (11.2) |
|  Grand Canyon Education, Inc | (1605) | (187079) | (25.3) |

---

17.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Great Southern Bancorp, Inc. | (641) | $(37460) | (5.1)% |
|  Greenbrier Cos., Inc. | (245) | (7575) | (1.0) |
|  Griffon Corp. | (1121) | (45826) | (6.2) |
|  Hagerty, Inc., Class A | (1883) | (18096) | (2.4) |
|  Harmonic, Inc. | (7557) | (99526) | (13.5) |
|  Hawaiian Electric Industries, Inc. | (7324) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(309585) | (41.9) |
|  Hayward Holdings, Inc. | (15814) | (213331) | (28.9) |
|  Hecla Mining Co. | (28707) | (177122) | (24.0) |
|  Heritage Commerce Corp. | (20502) | (248484) | (33.6) |
|  Heska Corp. | (412) | (36849) | (5.0) |
|  Hillman Solutions Corp. | (30743) | (295133) | (39.9) |
|  Hims & Hers Health, Inc. | (6878) | (56950) | (7.7) |
|  Hippo Holdings, Inc. | (3940) | (66113) | (8.9) |
|  Honest Co., Inc. | (125476) | (414071) | (56.0) |
|  Huron Consulting Group, Inc. | (2173) | (147851) | (20.0) |
|  Hyliion Holdings Corp. | (43590) | (156052) | (21.1) |
|  Hyster-Yale Materials Handling, Inc. | (4500) | (145935) | (19.7) |
|  Ichor Holdings Ltd. | (2491) | (84196) | (11.4) |
|  Ideaya Biosciences, Inc. | (708) | (12057) | (1.6) |
|  ImmunityBio, Inc. | (13812) | (52486) | (7.1) |
|  Immunovant, Inc. | (5709) | (101449) | (13.7) |
|  Independent Bank Corp. | (4250) | (338682) | (45.8) |
|  indie Semiconductor, Inc., Class A | (2504) | (19957) | (2.7) |
|  Indus Realty Trust, Inc. | (6104) | (391266) | (52.9) |
|  Informatica, Inc., Class A | (1558) | (27732) | (3.8) |
|  Inhibrx, Inc. | (4266) | (106650) | (14.4) |
|  Innospec, Inc. | (775) | (87591) | (11.8) |
|  Inotiv, Inc. | (2138) | (15501) | (2.1) |
|  Insight Enterprises, Inc. | (138) | (15555) | (2.1) |
|  Integer Holdings Corp. | (229) | (15070) | (2.0) |
|  International Bancshares Corp. | (1359) | (63696) | (8.6) |
|  InvenTrust Properties Corp. | (10504) | (261234) | (35.3) |
|  Invesco Mortgage Capital, Inc. | (523) | (7683) | (1.0) |
|  Invitae Corp. | (9771) | (23060) | (3.1) |
|  IonQ, Inc. | (10569) | (46926) | (6.3) |
|  iTeos Therapeutics, Inc. | (798) | (16678) | (2.3) |
|  Jack in the Box, Inc. | (7647) | (581019) | (78.6) |
|  John B Sanfilippo & Son, Inc. | (622) | (52565) | (7.1) |
|  John Wiley & Sons, Inc., Class A | (13216) | (605293) | (81.9) |
|  Johnson Outdoors, Inc., Class A | (113) | (7736) | (1.0) |
|  Kennametal, Inc. | (2277) | (64895) | (8.8) |
|  Kennedy-Wilson Holdings, Inc. | (33114) | (592078) | (80.1) |
|  Keros Therapeutics, Inc. | (2396) | (140334) | (19.0) |
|  Kezar Life Sciences, Inc. | (8803) | (63118) | (8.5) |
|  Kinetik Holdings, Inc., Class A | (664) | (20777) | (2.8) |
|  KKR Real Estate Finance Trust, Inc. | (41969) | (668566) | (90.4) |
|  Kosmos Energy Ltd. | (25330) | (200360) | (27.1) |
|  Krystal Biotech, Inc. | (5108) | (424577) | (57.4) |
|  Kura Sushi USA, Inc., Class A | (1494) | (92837) | (12.6) |
|  Lakeland Bancorp, Inc. | (2252) | (43396) | (5.9) |
|  Lakeland Financial Corp. | (573) | (40517) | (5.5) |
|  Latham Group, Inc. | (7664) | (33722) | (4.6) |
|  Lemonade, Inc. | (1992) | (32430) | (4.4) |
|  LendingClub Corp. | (1862) | (18043) | (2.4) |
|  Leonardo DRS, Inc. | (12903) | (172255) | (23.3) |
|  Leslie's, Inc. | (13857) | (214645) | (29.0) |
|  Lexington Realty Trust | (1877) | (21679) | (2.9) |
|  LGI Homes, Inc. | (750) | (85388) | (11.6) |
|  Liberty Energy, Inc., Class A | (4496) | (71172) | (9.6) |
|  Liberty Media Corp.-Liberty Braves, Class C | (8759) | (303762) | (41.1) |
|  Lightwave Logic, Inc. | (55074) | (346415) | (46.9) |
|  Lordstown Motors Corp., Class A | (52111) | (68265) | (9.2) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Lovesac Co. | (5975) | $(153797) | (20.8)% |
|  LTC Properties, Inc. | (436) | (16633) | (2.3) |
|  Luminar Technologies, Inc., Class A | (10900) | (72703) | (9.8) |
|  Mack-Cali Realty Corp. | (13755) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(237961) | (32.2) |
|  Madison Square Garden Entertainment Corp. | (1775) | (92815) | (12.6) |
|  Markforged Holding Corp. | (47375) | (63483) | (8.6) |
|  Materion Corp. | (1960) | (176890) | (23.9) |
|  Mativ Holdings, Inc. | (944) | (26017) | (3.5) |
|  Matterport, Inc. | (29031) | (102189) | (13.8) |
|  Matthews International Corp., Class A | (7511) | (278207) | (37.6) |
|  MaxCyte, Inc. | (15107) | (88225) | (11.9) |
|  Mercury Systems, Inc. | (6625) | (331151) | (44.8) |
|  MeridianLink, Inc. | (1139) | (18087) | (2.4) |
|  Mersana Therapeutics, Inc. | (5939) | (39079) | (5.3) |
|  MGP Ingredients, Inc. | (473) | (46136) | (6.2) |
|  Minerals Technologies, Inc. | (3546) | (246270) | (33.3) |
|  Mirion Technologies, Inc. | (102231) | (812736) | (109.9) |
|  Mirum Pharmaceuticals, Inc. | (9585) | (225056) | (30.4) |
|  Mission Produce, Inc. | (4261) | (53092) | (7.2) |
|  Montrose Environmental Group, Inc. | (10255) | (555411) | (75.1) |
|  Mueller Water Products, Inc., Class A | (1161) | (14687) | (2.0) |
|  N-able, Inc. | (8409) | (86360) | (11.7) |
|  NanoString Technologies, Inc. | (2407) | (25466) | (3.4) |
|  National HealthCare Corp. | (2319) | (138073) | (18.7) |
|  National Presto Industries, Inc. | (1797) | (137668) | (18.6) |
|  Navient Corp. | (2528) | (47956) | (6.5) |
|  Navitas Semiconductor Corp. | (3017) | (14964) | (2.0) |
|  NBT Bancorp, Inc. | (10296) | (404736) | (54.7) |
|  Necessity Retail REIT, Inc. | (39543) | (270079) | (36.5) |
|  NetScout Systems, Inc. | (161) | (5168) | (0.7) |
|  NETSTREIT Corp. | (12968) | (261046) | (35.3) |
|  NewMarket Corp. | (139) | (47887) | (6.5) |
|  NexTier Oilfield Solutions, Inc. | (11491) | (108245) | (14.6) |
|  Nicolet Bankshares, Inc. | (687) | (50075) | (6.8) |
|  nLight, Inc. | (42921) | (532220) | (72.0) |
|  Northern Oil and Gas, Inc. | (1288) | (43174) | (5.8) |
|  Northfield Bancorp, Inc. | (468) | (6997) | (0.9) |
|  Northwest Bancshares, Inc. | (13525) | (191243) | (25.9) |
|  Nuvalent, Inc., Class A | (4345) | (131436) | (17.8) |
|  Nuvation Bio, Inc. | (2316) | (5697) | (0.8) |
|  ODP Corp. | (259) | (13364) | (1.8) |
|  O-I Glass, Inc. | (20175) | (388369) | (52.5) |
|  Olo, Inc., Class A | (41542) | (333167) | (45.1) |
|  ON24, Inc. | (43922) | (407596) | (55.1) |
|  OneSpan, Inc. | (5957) | (82266) | (11.1) |
|  Open Lending Corp., Class A | (6371) | (55874) | (7.6) |
|  Opendoor Technologies, Inc. | (207252) | (453882) | (61.4) |
|  Orion Office REIT, Inc. | (20579) | (198587) | (26.9) |
|  OrthoPediatrics Corp. | (1869) | (88086) | (11.9) |
|  Outset Medical, Inc. | (11942) | (335809) | (45.4) |
|  Pacific Biosciences of California, Inc. | (23650) | (262278) | (35.5) |
|  Pacific Premier Bancorp, Inc. | (4648) | (150316) | (20.3) |
|  Park National Corp. | (211) | (26428) | (3.6) |
|  Patterson Cos., Inc. | (741) | (22371) | (3.0) |
|  Paymentus Holdings, Inc., Class A | (40282) | (350051) | (47.3) |
|  Peapack-Gladstone Financial Corp. | (1802) | (66836) | (9.0) |
|  Pediatrix Medical Group, Inc. | (8057) | (123675) | (16.7) |
|  PennyMac Mortgage Investment Trust | (5883) | (89716) | (12.1) |
|  Physicians Realty Trust | (20508) | (325257) | (44.0) |
|  Piedmont Lithium, Inc. | (7140) | (490090) | (66.3) |
|  Pitney Bowes, Inc. | (16077) | (69292) | (9.4) |
|  Planet Labs PBC | (29850) | (147758) | (20.0) |

---

S C H E D U L E O F I N V E S T M E N T S 18

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Pliant Therapeutics, Inc. | (5322) | $(186483) | (25.2)% |
|  Plymouth Industrial REIT, Inc. | (19520) | (436858) | (59.1) |
|  Portillo's, Inc., Class A | (2155) | (48617) | (6.6) |
|  PowerSchool Holdings, Inc., Class A | (2947) | (66366) | (9.0) |
|  Premier, Inc., Class A | (11009) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(367260) | (49.7) |
|  PROCEPT BioRobotics Corp. | (9264) | (360277) | (48.7) |
|  Progress Software Corp. | (7270) | (385601) | (52.2) |
|  Provention Bio, Inc. | (38863) | (336554) | (45.5) |
|  Pulmonx Corp. | (18665) | (165932) | (22.4) |
|  PureCycle Technologies, Inc. | (2391) | (20037) | (2.7) |
|  Quanterix Corp. | (12516) | (176851) | (23.9) |
|  Quantum-Si, Inc | (4595) | (10201) | (1.4) |
|  Rackspace Technology, Inc. | (26107) | (78321) | (10.6) |
|  Ready Capital Corp. | (63320) | (837724) | (113.3) |
|  Reata Pharmaceuticals, Inc., Class A | (3749) | (162444) | (22.0) |
|  Redfin Corp. | (9991) | (74733) | (10.1) |
|  Relay Therapeutics, Inc. | (1824) | (39143) | (5.3) |
|  Resideo Technologies, Inc. | (4298) | (82651) | (11.2) |
|  REV Group, Inc. | (21557) | (276145) | (37.3) |
|  REVOLUTION Medicines, Inc. | (3312) | (88563) | (12.0) |
|  Reynolds Consumer Products, Inc. | (7096) | (211248) | (28.6) |
|  Rhythm Pharmaceuticals, Inc. | (14457) | (395399) | (53.5) |
|  Rimini Street, Inc. | (6144) | (27648) | (3.7) |
|  RLI Corp. | (1348) | (178543) | (24.1) |
|  Rocket Lab USA, Inc. | (114745) | (570283) | (77.1) |
|  RXO, Inc. | (941) | (17239) | (2.3) |
|  S&T Bancorp, Inc. | (9021) | (328184) | (44.4) |
|  Sabra Health Care REIT, Inc. | (2240) | (30240) | (4.1) |
|  Safety Insurance Group, Inc. | (1118) | (94348) | (12.8) |
|  Sage Therapeutics, Inc. | (1833) | (81275) | (11.0) |
|  Sally Beauty Holdings, Inc. | (9284) | (144645) | (19.6) |
|  Samsara, Inc., Class A | (3438) | (46894) | (6.3) |
|  Saul Centers, Inc. | (880) | (37673) | (5.1) |
|  Schneider National, Inc., Class B | (492) | (13038) | (1.8) |
|  Schrodinger, Inc. | (10268) | (248280) | (33.6) |
|  Seer, Inc., Class A | (4818) | (21922) | (3.0) |
|  Select Energy Services, Inc., Class A | (1854) | (16278) | (2.2) |
|  Sema4 Holdings Corp., Class A | (20730) | (8806) | (1.2) |
|  Senseonics Holdings, Inc. | (20956) | (23680) | (3.2) |
|  Shenandoah Telecommunications Co. | (10341) | (202167) | (27.3) |
|  SI-BONE, Inc. | (25926) | (441520) | (59.7) |
|  Silk Road Medical, Inc. | (1206) | (65558) | (8.9) |
|  SilverBow Resources, Inc. | (5712) | (150054) | (20.3) |
|  Simmons First National Corp., Class A | (572) | (12761) | (1.7) |
|  SITE Centers Corp. | (1465) | (19997) | (2.7) |
|  SJW Group | (4944) | (382715) | (51.8) |
|  Skillz, Inc., Class A | (56574) | (45225) | (6.1) |
|  SmartRent, Inc. | (15141) | (44212) | (6.0) |
|  SomaLogic, Inc. | (23103) | (80398) | (10.9) |
|  Sonos, Inc. | (9723) | (179292) | (24.2) |
|  Spectrum Brands Holdings, Inc. | (2019) | (137050) | (18.5) |
|  Sprout Social, Inc., Class A | (1255) | (80282) | (10.9) |
|  Squarespace, Inc., Class A | (2740) | (64993) | (8.8) |
|  St Joe Co. | (2254) | (106163) | (14.4) |
|  Stem, Inc. | (8765) | (86423) | (11.7) |
|  StepStone Group, Inc., Class A | (7657) | (223508) | (30.2) |
|  Stericycle, Inc. | (1668) | (89755) | (12.1) |
|  Stock Yards Bancorp, Inc. | (545) | (32678) | (4.4) |
|  Strategic Education, Inc. | (5116) | (477579) | (64.6) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Sumo Logic, Inc. | (19365) | $(229088) | (31.0)% |
|  Sun Country Airlines Holdings, Inc. | (16961) | (316662) | (42.8) |
|  Sunstone Hotel Investors, Inc. | (42406) | (466042) | (63.0) |
|  Sweetgreen, Inc., Class A | (66851) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(693245) | (93.8) |
|  Talos Energy, Inc. | (5591) | (110758) | (15.0) |
|  Tarsus Pharmaceuticals, Inc. | (2619) | (41275) | (5.6) |
|  Tejon Ranch Co. | (4246) | (85005) | (11.5) |
|  Telos Corp. | (12733) | (61755) | (8.4) |
|  Tennant Co. | (1156) | (81070) | (11.0) |
|  Terex Corp. | (3095) | (157752) | (21.3) |
|  Texas Capital Bancshares, Inc. | (2131) | (140795) | (19.0) |
|  TFS Financial Corp. | (3401) | (48464) | (6.6) |
|  TimkenSteel Corp. | (7568) | (148863) | (20.1) |
|  Towne Bank | (2372) | (72275) | (9.8) |
|  TPI Composites, Inc. | (3371) | (43992) | (6.0) |
|  Traeger, Inc. | (2810) | (10200) | (1.4) |
|  TransMedics Group, Inc. | (1162) | (73229) | (9.9) |
|  Treace Medical Concepts, Inc. | (4278) | (98779) | (13.4) |
|  Tredegar Corp. | (12208) | (148083) | (20.0) |
|  TreeHouse Foods, Inc. | (6853) | (331891) | (44.9) |
|  TriCo Bancshares | (6433) | (325188) | (44.0) |
|  TriMas Corp. | (518) | (15949) | (2.2) |
|  Tronox Holdings PLC | (11159) | (191377) | (25.9) |
|  Trupanion, Inc. | (1093) | (64509) | (8.7) |
|  TrustCo Bank Corp. | (2263) | (81264) | (11.0) |
|  Trustmark Corp. | (11137) | (324309) | (43.9) |
|  Tupperware Brands Corp. | (1749) | (7748) | (1.0) |
|  Two Harbors Investment Corp. | (9621) | (172601) | (23.3) |
|  UFP Technologies, Inc. | (71) | (8075) | (1.1) |
|  UMB Financial Corp. | (973) | (87755) | (11.9) |
|  UMH Properties, Inc. | (15306) | (274284) | (37.1) |
|  Unisys Corp. | (3921) | (21213) | (2.9) |
|  United Natural Foods, Inc. | (345) | (14359) | (1.9) |
|  Universal Corp. | (3559) | (193503) | (26.2) |
|  Universal Health Realty Income Trust | (7885) | (432177) | (58.5) |
|  Urstadt Biddle Properties, Inc., Class A | (19457) | (365402) | (49.4) |
|  US Physical Therapy, Inc. | (754) | (74759) | (10.1) |
|  VAALCO Energy, Inc. | (2712) | (12611) | (1.7) |
|  Vaxcyte, Inc. | (2169) | (98364) | (13.3) |
|  Vector Group Ltd. | (4011) | (51942) | (7.0) |
|  Velo3D, Inc. | (43192) | (103661) | (14.0) |
|  Viavi Solutions, Inc. | (5799) | (65529) | (8.9) |
|  Victoria's Secret & Co. | (2123) | (89484) | (12.1) |
|  Vishay Intertechnology, Inc. | (1593) | (36464) | (4.9) |
|  Vista Outdoor, Inc. | (18292) | (536870) | (72.6) |
|  Vitesse Energy, Inc. | (13328) | (212715) | (28.8) |
|  Vobile Group Ltd. | (156000) | (89493) | (12.1) |
|  Vuzix Corp. | (22530) | (117381) | (15.9) |
|  W&T Offshore, Inc. | (19639) | (122155) | (16.5) |
|  Warby Parker, Inc., Class A | (440) | (7106) | (1.0) |
|  Werner Enterprises, Inc. | (2195) | (103099) | (13.9) |
|  White Mountains Insurance Group Ltd. | (326) | (498115) | (67.4) |
|  WideOpenWest, Inc. | (8952) | (102858) | (13.9) |
|  WW International, Inc. | (20491) | (101840) | (13.8) |
|  Xenia Hotels & Resorts, Inc. | (14270) | (212623) | (28.8) |
|  Xometry, Inc., Class A | (4377) | (153283) | (20.7) |

---

19.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Xperi, Inc. | (1618) | $(16746) | (2.3)% |
|  Zentalis Pharmaceuticals, Inc. | (7735) | (182546) | (24.7) |
|  |  | (69351001) |  |
| **Preferred Stocks** |  |  |  |
| **Germany** |  |  |  |
|  Jungheinrich AG | (5208) | (207121) | (28.0) |
|  **Total Reference Entity — Short** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(151303250) |  |
|  **Net Value of Reference Entity — Bank of America N.A** | **Net Value of Reference Entity — Bank of America N.A** | $739418 |  |
| <br> The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with Bank of America N.A. as of period end, termination dates on February 15, 2023 and February 15, 2024: | <br> The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with Bank of America N.A. as of period end, termination dates on February 15, 2023 and February 15, 2024: | <br> The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with Bank of America N.A. as of period end, termination dates on February 15, 2023 and February 15, 2024: | <br> The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with Bank of America N.A. as of period end, termination dates on February 15, 2023 and February 15, 2024: |
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Reference Entity — Long** | **Reference Entity — Long** | **Reference Entity — Long** |  |
| **Common Stocks** |  |  |  |
| **Australia** |  |  |  |
|  Allkem Ltd. | 35598 | $330490 | 21.4% |
|  AMP Ltd. | 15313 | 14526 | 0.9 |
|  Aristocrat Leisure Ltd. | 10113 | 244160 | 15.8 |
|  ASX Ltd. | 1355 | 66307 | 4.3 |
|  Aurizon Holdings Ltd. | 130851 | 342013 | 22.1 |
|  Bank of Queensland Ltd. | 45898 | 226959 | 14.7 |
|  Boral Ltd. | 41859 | 102274 | 6.6 |
|  Brambles Ltd. | 7553 | 64227 | 4.2 |
|  Charter Hall Group | 57698 | 568128 | 36.7 |
|  Coles Group Ltd. | 10037 | 126242 | 8.2 |
|  Commonwealth Bank of Australia | 879 | 68616 | 4.4 |
|  CSR Ltd. | 7260 | 27170 | 1.8 |
|  Domain Holdings Australia Ltd. | 65142 | 149035 | 9.6 |
|  Domino's Pizza Enterprises Ltd. | 5917 | 318974 | 20.6 |
|  Downer EDI Ltd. | 47531 | 127195 | 8.2 |
|  Flight Centre Travel Group Ltd. | 1906 | 23024 | 1.5 |
|  GPT Group | 80012 | 259362 | 16.8 |
|  IDP Education Ltd. | 15776 | 351070 | 22.7 |
|  Iluka Resources Ltd. | 7492 | 57648 | 3.7 |
|  Insignia Financial Ltd. | 6517 | 16179 | 1.1 |
|  Magellan Financial Group Ltd. | 6312 | 40125 | 2.6 |
|  Medibank Private Ltd. | 333858 | 695521 | 45.0 |
|  Origin Energy Ltd. | 100338 | 532751 | 34.5 |
|  Orora Ltd. | 90175 | 190804 | 12.3 |
|  OZ Minerals Ltd. | 15159 | 300252 | 19.4 |
|  Pilbara Minerals Ltd. | 34143 | 116152 | 7.5 |
|  Pro Medicus Ltd. | 7008 | 334693 | 21.6 |
|  Qantas Airways Ltd. | 60185 | 271665 | 17.6 |
|  QBE Insurance Group Ltd. | 7323 | 71450 | 4.6 |
|  REA Group Ltd. | 397 | 35600 | 2.3 |
|  Region RE Ltd., Registered Shares | 21853 | 41934 | 2.7 |
|  SEEK Ltd. | 488 | 8452 | 0.6 |
|  Star Entertainment Group Ltd. | 142964 | 197270 | 12.8 |
|  Steadfast Group Ltd. | 65501 | 243348 | 15.7 |
|  Treasury Wine Estates Ltd. | 78748 | 811166 | 52.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Australia (continued)** |  |  |  |
|  Westpac Banking Corp. | 56248 | $946421 | 61.2% |
|  WiseTech Global Ltd. | 11712 | 507827 | 32.8 |
|  Worley Ltd. | 18407 | 202066 | 13.1 |
|  |  | 9031096 |  |
| **Austria** |  |  |  |
|  ANDRITZ AG | 4811 | 287705 | 18.6 |
|  Raiffeisen Bank International AG | 6309 | 113513 | 7.3 |
|  |  | 401218 |  |
| **Belgium** |  |  |  |
|  Ackermans & van Haaren NV | 91 | 15748 | 1 |
|  Ageas SA/NV | 2907 | 141926 | 9.2 |
|  Anheuser-Busch InBev SA | 12405 | 748787 | 48.4 |
|  Etablissements Franz Colruyt NV | 2963 | 78353 | 5.1 |
|  Euronav NV | 34897 | 549279 | 35.5 |
|  KBC Group NV | 13414 | 993538 | 64.3 |
|  Sofina SA | 1079 | 256340 | 16.6 |
|  Solvay SA | 1133 | 132030 | 8.5 |
|  |  | 2916001 |  |
| **Bermuda** |  |  |  |
|  Hiscox Ltd. | 79468 | 1106048 | 71.5 |
| **Canada** |  |  |  |
|  Algonquin Power & Utilities Corp. | 9139 | 66625 | 4.3 |
|  Aritzia, Inc. | 2119 | 76428 | 4.9 |
|  Ballard Power Systems, Inc. | 8437 | 55230 | 3.6 |
|  Baytex Energy Corp. | 7040 | 32593 | 2.1 |
|  Birchcliff Energy Ltd. | 5345 | 34266 | 2.2 |
|  Bombardier, Inc., Class B | 12117 | 585292 | 37.9 |
|  Canada Goose Holdings, Inc. | 1705 | 41244 | 2.7 |
|  Canadian Imperial Bank of Commerce | 20075 | 916430 | 59.3 |
|  Element Fleet Management Corp. | 31531 | 445517 | 28.8 |
|  Enerplus Corp. | 25126 | 445849 | 28.8 |
|  First Majestic Silver Corp. | 25721 | 203170 | 13.1 |
|  First Quantum Minerals Ltd. | 9750 | 226209 | 14.6 |
|  GFL Environmental, Inc. | 2556 | 78877 | 5.1 |
|  Gildan Activewear, Inc. | 27665 | 867449 | 56.1 |
|  Imperial Oil Ltd. | 3608 | 197192 | 12.8 |
|  Ivanhoe Mines Ltd., Class A | 12402 | 116512 | 7.5 |
|  Kinaxis, Inc. | 1096 | 127388 | 8.2 |
|  Lithium Americas Corp. | 11574 | 291057 | 18.8 |
|  Lululemon Athletica, Inc. | 11934 | 3662306 | 236.9 |
|  Lundin Mining Corp. | 4298 | 32529 | 2.1 |
|  Methanex Corp. | 12468 | 590158 | 38.2 |
|  National Bank of Canada. | 3179 | 238804 | 15.4 |
|  NuVista Energy Ltd. | 14348 | 120236 | 7.8 |
|  Pan American Silver Corp. | 10901 | 198677 | 12.8 |
|  Parex Resources, Inc. | 26324 | 448114 | 29 |
|  Royal Bank of Canada | 1713 | 175297 | 11.3 |
|  Stantec, Inc. | 6363 | 331696 | 21.4 |
|  TC Energy Corp. | 48939 | 2108656 | 136.4 |
|  Teck Resources Ltd., Class B | 466 | 20159 | 1.3 |
|  TELUS Corp. | 34769 | 749184 | 48.5 |
|  Toronto-Dominion Bank | 3304 | 228602 | 14.8 |
|  Tourmaline Oil Corp. | 562 | 26192 | 1.7 |
|  TransAlta Corp. | 8049 | 78158 | 5.1 |
|  West Fraser Timber Co. Ltd. | 284 | 24694 | 1.6 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13840790 |  |

---

S C H E D U L E O F I N V E S T M E N T S 20

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **China** |  |  |  |
|  Yangzijiang Shipbuilding Holdings Ltd. | 31000 | $30561 | 2.0% |
| **Denmark** |  |  |  |
|  AP Moller - Maersk A/S, Class A | 20 | 42619 | 2.8 |
|  Carlsberg A/S, Class B | 5620 | 797824 | 51.6 |
|  Coloplast A/S, Class B | 139 | 16782 | 1.1 |
|  D/S Norden A/S | 16932 | 912726 | 59.0 |
|  H Lundbeck A/S | 25361 | 94237 | 6.1 |
|  Jyske Bank AS, Registered Shares | 520 | 37504 | 2.4 |
|  Novozymes A/S | 8337 | 433829 | 28.1 |
|  ROCKWOOL A/S, B Shares | 1093 | 313376 | 20.3 |
|  Royal Unibrew A/S | 4104 | 288191 | 18.6 |
|  SimCorp A/S | 2208 | 154626 | 10.0 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3091714 |  |
| **Finland** |  |  |  |
|  Huhtamaki OYJ | 646 | 24162 | 1.6 |
|  Kone OYJ, Class B | 7660 | 417746 | 27.0 |
|  Metso Outotec OYJ | 18970 | 218020 | 14.1 |
|  Nokian Renkaat OYJ | 37318 | 447016 | 28.9 |
|  Wartsila OYJ Abp | 90351 | 859329 | 55.6 |
|  |  | 1966273 |  |
| **France** |  |  |  |
|  Accor SA | 22645 | 735011 | 47.5 |
|  Aeroports de Paris | 1901 | 294916 | 19.1 |
|  Air Liquide SA | 292 | 46494 | 3.0 |
|  Alstom SA | 14458 | 429911 | 27.8 |
|  Arkema SA | 1245 | 125979 | 8.1 |
|  Bureau Veritas SA | 2008 | 57412 | 3.7 |
|  Carrefour SA | 20708 | 393886 | 25.5 |
|  Cie Generale des Etablissements Michelin SCA | 15152 | 479103 | 31.0 |
|  Covivio | 13549 | 930062 | 60.1 |
|  Danone SA | 15645 | 857960 | 55.5 |
|  Engie SA | 68385 | 971058 | 62.8 |
|  Faurecia SE | 22719 | 451506 | 29.2 |
|  Gaztransport Et Technigaz SA | 6485 | 716957 | 46.4 |
|  Gecina SA | 3614 | 428077 | 27.7 |
|  Hermes International | 498 | 932012 | 60.3 |
|  ICADE | 21026 | 998739 | 64.6 |
|  JCDecaux SE | 3224 | 72955 | 4.7 |
|  Klepierre SA | 27953 | 709457 | 45.9 |
|  Neoen SA | 21698 | 814747 | 52.7 |
|  Pernod Ricard SA | 8310 | 1720419 | 111.3 |
|  Remy Cointreau SA | 189 | 35587 | 2.3 |
|  Renault SA | 9790 | 398056 | 25.7 |
|  Rexel SA | 807 | 17853 | 1.1 |
|  Societe Generale SA | 25655 | 763661 | 49.4 |
|  Ubisoft Entertainment SA | 5000 | 103533 | 6.7 |
|  Valeo | 4240 | 92664 | 6.0 |
|  Wendel SE | 2275 | 240895 | 15.6 |
|  |  | 13818910 |  |
| **Germany** |  |  |  |
|  1&1 AG | 9077 | 126701 | 8.2 |
|  Adidas AG | 3336 | 537150 | 34.7 |
|  BASF SE | 1051 | 60260 | 3.9 |
|  Covestro AG | 10614 | 488716 | 31.6 |
|  Daimler Truck Holding AG | 2331 | 78330 | 5.1 |
|  DWS Group GmbH & Co. KGaA | 12704 | 456951 | 29.5 |
|  E.ON SE | 14245 | 155312 | 10.0 |
|  Encavis AG | 21505 | 416669 | 26.9 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Germany (continued)** |  |  |  |
|  Freenet AG | 41090 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998867 | 64.6% |
|  K&S AG, Registered Shares | 14536 | 347940 | 22.5 |
|  Knorr-Bremse AG | 1222 | 80320 | 5.2 |
|  Mercedes-Benz Group AG | 5861 | 436129 | 28.2 |
|  METRO AG | 43 | 424 | 0.0 |
|  Nemetschek SE | 1543 | 82495 | 5.3 |
|  Puma SE | 1298 | 87997 | 5.7 |
|  Rheinmetall AG | 158 | 36918 | 2.4 |
|  Scout24 SE | 1035 | 60256 | 3.9 |
|  Siemens AG, Registered Shares | 205 | 32022 | 2.1 |
|  Siemens Energy AG | 8035 | 168002 | 10.9 |
|  SUSE SA | 5037 | 97777 | 6.3 |
|  Talanx AG | 18218 | 901258 | 58.3 |
|  thyssenkrupp AG | 26295 | 206570 | 13.4 |
|  VERBIO Vereinigte BioEnergie AG | 2249 | 141777 | 9.2 |
|  Volkswagen AG | 11175 | 1956073 | 126.5 |
|  Wacker Chemie AG | 1183 | 178798 | 11.6 |
|  |  | 8133712 |  |
| **Hong Kong** |  |  |  |
|  ASMPT Ltd. | 35400 | 292391 | 18.9 |
|  Bank of East Asia Ltd. | 155800 | 200143 | 13.0 |
|  Cathay Pacific Airways Ltd. | 528000 | 526211 | 34.0 |
|  Dah Sing Banking Group Ltd. | 191200 | 154605 | 10.0 |
|  Galaxy Entertainment Group Ltd. | 16000 | 111381 | 7.2 |
|  Haitong International Securities Group Ltd. | 174900 | 20129 | 1.3 |
|  Hang Lung Properties Ltd. | 44000 | 82964 | 5.4 |
|  Hongkong Land Holdings Ltd. | 64400 | 314837 | 20.4 |
|  Hutchison Port Holdings Trust, Class U | 648300 | 133389 | 8.6 |
|  Hysan Development Co. Ltd. | 39000 | 131213 | 8.5 |
|  Jardine Matheson Holdings Ltd. | 1000 | 53156 | 3.4 |
|  Kerry Properties Ltd. | 44500 | 112825 | 7.3 |
|  Link REIT | 9800 | 78443 | 5.1 |
|  New World Development Co. Ltd. | 30000 | 89667 | 5.8 |
|  Shangri-La Asia Ltd. | 16000 | 13970 | 0.9 |
|  SITC International Holdings Co. Ltd. | 64000 | 139814 | 9.0 |
|  Swire Pacific Ltd., Class A | 69500 | 636890 | 41.2 |
|  Swire Properties Ltd. | 115000 | 323214 | 20.9 |
|  Wharf Holdings Ltd. | 5000 | 13026 | 0.8 |
|  Yue Yuen Industrial Holdings Ltd. | 38500 | 63158 | 4.1 |
|  |  | 3491426 |  |
| **Ireland** |  |  |  |
|  AIB Group PLC | 30570 | 128412 | 8.3 |
|  Alkermes PLC | 9574 | 274199 | 17.7 |
|  Bank of Ireland Group PLC | 2240 | 23932 | 1.6 |
|  Experian PLC | 10269 | 375532 | 24.3 |
|  Glanbia PLC | 26911 | 328393 | 21.2 |
|  Kingspan Group PLC | 6077 | 390849 | 25.3 |
|  Medtronic PLC | 2521 | 210983 | 13.6 |
|  Ryanair Holdings PLC | 8639 | 139090 | 9.0 |
|  |  | 1871390 |  |
| **Israel** |  |  |  |
|  Airport City Ltd. | 3546 | 56168 | 3.6 |
|  Alony Hetz Properties & Investments Ltd. | 35449 | 380341 | 24.6 |
|  Check Point Software Technologies Ltd. | 1291 | 164215 | 10.6 |
|  Elbit Systems Ltd. | 916 | 153782 | 9.9 |
|  Harel Insurance Investments & Financial Services Ltd. | 9222 | 89211 | 5.8 |
|  Nice Ltd. | 1507 | 311660 | 20.2 |

---

21.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Israel (continued)** |  |  |  |
|  Nova Ltd. | 6207 | $562975 | 36.4% |
|  Phoenix Holdings Ltd. | 9152 | 98426 | 6.4 |
|  Wix.com Ltd. | 5359 | 466126 | 30.1 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282904 |  |
| **Italy** |  |  |  |
|  A2A SpA | 308501 | 464443 | 30.0 |
|  Azimut Holding SpA | 418 | 10436 | 0.7 |
|  Banco BPM SpA | 10550 | 47483 | 3.1 |
|  Buzzi Unicem SpA | 17950 | 404201 | 26.1 |
|  Enel SpA | 15968 | 94022 | 6.1 |
|  FinecoBank Banca Fineco SpA | 1855 | 33301 | 2.2 |
|  Hera SpA | 55968 | 160775 | 10.4 |
|  Infrastrutture Wireless Italiane SpA | 23840 | 261257 | 16.9 |
|  Intesa Sanpaolo SpA | 94375 | 248137 | 16.0 |
|  Italgas SpA | 36911 | 216066 | 14.0 |
|  Iveco Group NV | 8772 | 71848 | 4.6 |
|  Moncler SpA | 11130 | 696600 | 45.0 |
|  PRADA SpA | 30200 | 193115 | 12.5 |
|  Prysmian SpA | 8322 | 339851 | 22.0 |
|  Reply SpA | 3409 | 442513 | 28.6 |
|  Snam SpA | 38763 | 197440 | 12.8 |
|  UniCredit SpA | 56428 | 1102103 | 71.3 |
|  UnipolSai Assicurazioni SpA | 64518 | 171619 | 11.1 |
|  |  | 5155210 |  |
| **Japan** |  |  |  |
|  Acom Co. Ltd. | 159200 | 396860 | 25.7 |
|  Ain Holdings, Inc. | 2900 | 125394 | 8.1 |
|  Alfresa Holdings Corp. | 63100 | 789822 | 51.1 |
|  Amano Corp. | 4000 | 73184 | 4.7 |
|  ANA Holdings, Inc. | 44400 | 982694 | 63.6 |
|  Anritsu Corp. | 28600 | 273971 | 17.7 |
|  Aozora Bank Ltd. | 69700 | 1393595 | 90.1 |
|  Astellas Pharma, Inc. | 9000 | 132481 | 8.6 |
|  AZ-COM MARUWA Holdings, Inc. | 15800 | 199424 | 12.9 |
|  Benesse Holdings, Inc. | 19600 | 299793 | 19.4 |
|  Brother Industries Ltd. | 13300 | 206579 | 13.4 |
|  Canon Marketing Japan, Inc. | 3100 | 73580 | 4.8 |
|  Canon, Inc. | 16700 | 370612 | 24.0 |
|  Coca-Cola Bottlers Japan Holdings, Inc. | 72800 | 766501 | 49.6 |
|  COMSYS Holdings Corp. | 51700 | 986043 | 63.8 |
|  Cosmos Pharmaceutical Corp. | 1400 | 136790 | 8.8 |
|  CyberAgent, Inc. | 245700 | 2297774 | 148.6 |
|  Daicel Corp. | 34700 | 256027 | 16.6 |
|  Dai-ichi Life Holdings, Inc. | 33200 | 778964 | 50.4 |
|  Daiichi Sankyo Co. Ltd. | 1700 | 53392 | 3.5 |
|  Daikin Industries Ltd. | 3100 | 538453 | 34.8 |
|  DeNA Co. Ltd. | 90800 | 1273177 | 82.3 |
|  Denka Co. Ltd. | 2900 | 60159 | 3.9 |
|  DIC Corp. | 3600 | 66931 | 4.3 |
|  DMG Mori Co. Ltd. | 22900 | 349780 | 22.6 |
|  Dowa Holdings Co. Ltd. | 2800 | 97757 | 6.3 |
|  Ebara Corp. | 27200 | 1154901 | 74.7 |
|  EXEO Group, Inc. | 21200 | 385492 | 24.9 |
|  Ezaki Glico Co. Ltd. | 3100 | 86626 | 5.6 |
|  Fast Retailing Co. Ltd. | 1000 | 607359 | 39.3 |
|  Fuji Media Holdings, Inc. | 76000 | 641902 | 41.5 |
|  GMO Payment Gateway, Inc. | 5200 | 481166 | 31.1 |
|  Hamamatsu Photonics KK | 7600 | 406070 | 26.3 |
|  Hitachi Ltd. | 100 | 5244 | 0.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  House Foods Group, Inc. | 4800 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102410 | 6.6% |
|  Hulic Co. Ltd. | 117300 | 964181 | 62.4 |
|  Information Services International-Dentsu Ltd. | 8900 | 294842 | 19.1 |
|  INFRONEER Holdings, Inc. | 52900 | 422271 | 27.3 |
|  Internet Initiative Japan, Inc. | 3600 | 67557 | 4.4 |
|  Itochu Techno-Solutions Corp. | 31000 | 767483 | 49.6 |
|  J Front Retailing Co. Ltd. | 85900 | 800028 | 51.7 |
|  JTEKT Corp. | 2900 | 21499 | 1.4 |
|  Kadokawa Corp. | 13400 | 250731 | 16.2 |
|  Kakaku.com, Inc. | 16900 | 281758 | 18.2 |
|  Kandenko Co. Ltd. | 36300 | 243977 | 15.8 |
|  Kaneka Corp. | 5700 | 149650 | 9.7 |
|  Kao Corp. | 12000 | 485062 | 31.4 |
|  Kawasaki Kisen Kaisha Ltd. | 4100 | 85612 | 5.5 |
|  Kenedix Office Investment Corp. | 20 | 47511 | 3.1 |
|  Kewpie Corp. | 11400 | 198479 | 12.8 |
|  Kinden Corp. | 10800 | 123785 | 8.0 |
|  Kirin Holdings Co. Ltd. | 35000 | 539340 | 34.9 |
|  Koito Manufacturing Co. Ltd. | 18400 | 310374 | 20.1 |
|  Kokuyo Co. Ltd. | 35800 | 510477 | 33.0 |
|  Kose Corp. | 3600 | 397198 | 25.7 |
|  K's Holdings Corp. | 56100 | 495976 | 32.1 |
|  Kubota Corp. | 12400 | 186351 | 12.1 |
|  Kusuri no Aoki Holdings Co. Ltd. | 3800 | 214108 | 13.8 |
|  Kyocera Corp. | 8400 | 435888 | 28.2 |
|  Kyowa Kirin Co. Ltd. | 3500 | 78053 | 5.0 |
|  Lintec Corp. | 28600 | 495267 | 32.0 |
|  Lion Corp. | 133400 | 1476702 | 95.5 |
|  Lixil Corp. | 29000 | 500650 | 32.4 |
|  Mani, Inc. | 15300 | 223794 | 14.5 |
|  Maruichi Steel Tube Ltd. | 12400 | 267000 | 17.3 |
|  McDonald's Holdings Co. Japan Ltd. | 5400 | 213340 | 13.8 |
|  Medipal Holdings Corp. | 10400 | 138850 | 9.0 |
|  Mercari, Inc. | 4100 | 88164 | 5.7 |
|  MISUMI Group, Inc. | 3700 | 93120 | 6.0 |
|  Mitsubishi Chemical Group Corp. | 22900 | 128502 | 8.3 |
|  Mitsubishi Electric Corp. | 39200 | 432013 | 27.9 |
|  Mitsubishi Estate Co. Ltd. | 4700 | 60410 | 3.9 |
|  Mitsubishi Gas Chemical Co., Inc. | 24900 | 363851 | 23.5 |
|  Mitsubishi HC Capital, Inc. | 22800 | 116375 | 7.5 |
|  Mitsubishi Motors Corp. | 113600 | 437690 | 28.3 |
|  Mitsubishi UFJ Financial Group, Inc. | 260300 | 1906666 | 123.3 |
|  Mitsui Chemicals, Inc. | 13200 | 310708 | 20.1 |
|  Mitsui Fudosan Co. Ltd. | 12200 | 228672 | 14.8 |
|  Mitsui Mining & Smelting Co. Ltd. | 6100 | 162511 | 10.5 |
|  Mizuho Financial Group, Inc. | 6700 | 104657 | 6.8 |
|  Nabtesco Corp. | 3000 | 87835 | 5.7 |
|  Nagoya Railroad Co. Ltd. | 6800 | 112437 | 7.3 |
|  NEC Corp. | 34800 | 1257241 | 81.3 |
|  NEC Networks & System Integration Corp. | 50300 | 671727 | 43.4 |
|  Nexon Co. Ltd. | 1300 | 31346 | 2.0 |
|  NGK Spark Plug Co. Ltd. | 30700 | 599912 | 38.8 |
|  Nichirei Corp. | 1400 | 29296 | 1.9 |
|  Nidec Corp. | 2100 | 116380 | 7.5 |
|  Nihon M&A Center Holdings, Inc. | 15300 | 156418 | 10.1 |
|  Nippon Express Holdings, Inc. | 1200 | 69639 | 4.5 |
|  Nippon Shinyaku Co. Ltd. | 1600 | 82346 | 5.3 |
|  Nippon Television Holdings, Inc. | 81600 | 659715 | 42.7 |
|  Nipro Corp. | 9800 | 78668 | 5.1 |
|  Nissan Motor Co. Ltd. | 67400 | 242164 | 15.7 |
|  Nitto Denko Corp. | 3800 | 245622 | 15.9 |

---

S C H E D U L E O F I N V E S T M E N T S 22

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Nomura Real Estate Holdings, Inc. | 46800 | $1031493 | 66.7% |
|  Nomura Real Estate Master Fund, Inc. | 288 | 336806 | 21.8 |
|  Nomura Research Institute Ltd. | 8500 | 204064 | 13.2 |
|  NS Solutions Corp. | 21000 | 540509 | 35.0 |
|  NSK Ltd. | 308500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735115 | 112.2 |
|  OBIC Business Consultants Co. Ltd. | 8800 | 345596 | 22.3 |
|  Olympus Corp. | 3600 | 67679 | 4.4 |
|  Omron Corp. | 12500 | 723257 | 46.8 |
|  Oracle Corp. Japan | 9200 | 630263 | 40.8 |
|  Osaka Gas Co. Ltd. | 2000 | 32274 | 2.1 |
|  Otsuka Corp. | 25100 | 825778 | 53.4 |
|  Otsuka Holdings Co. Ltd. | 8400 | 269475 | 17.4 |
|  PALTAC Corp. | 2800 | 101380 | 6.6 |
|  Panasonic Holdings Corp. | 13200 | 122408 | 7.9 |
|  Penta-Ocean Construction Co. Ltd. | 21000 | 104739 | 6.8 |
|  Pigeon Corp. | 5500 | 87411 | 5.7 |
|  Pola Orbis Holdings, Inc. | 85600 | 1235012 | 79.9 |
|  Resona Holdings, Inc. | 24100 | 133363 | 8.6 |
|  Ricoh Co. Ltd. | 101300 | 786353 | 50.9 |
|  Rohm Co. Ltd. | 2900 | 232381 | 15.0 |
|  Sanrio Co. Ltd. | 19100 | 728517 | 47.1 |
|  Santen Pharmaceutical Co. Ltd. | 64800 | 505165 | 32.7 |
|  Sapporo Holdings Ltd. | 6800 | 166063 | 10.7 |
|  Sawai Group Holdings Co. Ltd. | 13900 | 430063 | 27.8 |
|  Shimizu Corp. | 54500 | 305510 | 19.8 |
|  Shiseido Co. Ltd. | 3100 | 161126 | 10.4 |
|  Skylark Holdings Co. Ltd. | 8900 | 105918 | 6.8 |
|  SoftBank Corp. | 8800 | 100690 | 6.5 |
|  SoftBank Group Corp. | 18900 | 894765 | 57.9 |
|  Sohgo Security Services Co. Ltd. | 37600 | 1035199 | 66.9 |
|  Sompo Holdings, Inc. | 25900 | 1114966 | 72.1 |
|  Sumitomo Electric Industries Ltd. | 15400 | 185049 | 12.0 |
|  Sumitomo Forestry Co. Ltd. | 16400 | 306639 | 19.8 |
|  Sumitomo Mitsui Trust Holdings, Inc. | 17100 | 622930 | 40.3 |
|  Sumitomo Realty & Development Co. Ltd. | 41700 | 1016526 | 65.7 |
|  Sumitomo Rubber Industries Ltd. | 11100 | 98543 | 6.4 |
|  Suntory Beverage & Food Ltd. | 18700 | 631457 | 40.8 |
|  T&D Holdings, Inc. | 40600 | 649854 | 42.0 |
|  Taisei Corp. | 5800 | 200227 | 12.9 |
|  Taisho Pharmaceutical Holdings Co. Ltd. | 10800 | 454309 | 29.4 |
|  Takara Bio, Inc. | 8000 | 105904 | 6.8 |
|  TBS Holdings, Inc. | 27700 | 323381 | 20.9 |
|  Terumo Corp. | 24800 | 721937 | 46.7 |
|  Toda Corp. | 4900 | 26727 | 1.7 |
|  Tokyo Ohka Kogyo Co. Ltd. | 6700 | 330219 | 21.4 |
|  Tokyo Tatemono Co. Ltd. | 42600 | 528134 | 34.2 |
|  Toray Industries, Inc. | 5400 | 33178 | 2.1 |
|  Tosoh Corp. | 2700 | 35325 | 2.3 |
|  Toyo Tire & Rubber Co. Ltd. | 16900 | 202183 | 13.1 |
|  Toyoda Gosei Co. Ltd. | 10000 | 166041 | 10.7 |
|  Toyota Boshoku Corp. | 5400 | 80092 | 5.2 |
|  Trend Micro, Inc. | 1300 | 64368 | 4.2 |
|  TS Tech Co. Ltd. | 16900 | 210518 | 13.6 |
|  Tsumura & Co. | 5700 | 121878 | 7.9 |
|  Tsuruha Holdings, Inc. | 10800 | 795178 | 51.4 |
|  Ube Industries Ltd. | 6500 | 101955 | 6.6 |
|  Ulvac, Inc. | 8100 | 378934 | 24.5 |
|  Welcia Holdings Co. Ltd. | 4800 | 107283 | 6.9 |
|  Yakult Honsha Co. Ltd. | 4400 | 314107 | 20.3 |
|  Yamaguchi Financial Group, Inc. | 31800 | 219940 | 14.2 |
|  Yamato Kogyo Co. Ltd. | 18300 | 693600 | 44.9 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Yamazaki Baking Co. Ltd. | 52900 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618915 | 40.0% |
|  Yaskawa Electric Corp. | 8100 | 316622 | 20.5 |
|  Zenkoku Hosho Co. Ltd. | 4200 | 163581 | 10.6 |
|  ZOZO, Inc. | 19500 | 505503 | 32.7 |
|  |  | 63837161 |  |
| **Luxembourg** |  |  |  |
|  L'Occitane International SA | 45250 | 125898 | 8.1 |
| **Macau** |  |  |  |
|  MGM China Holdings Ltd. | 108400 | 136951 | 8.9 |
|  Wynn Macau Ltd. | 2000 | 2289 | 0.1 |
|  |  | 139240 |  |
| **Netherlands** |  |  |  |
|  ABN AMRO Bank NV | 8523 | 141461 | 9.2 |
|  ASR Nederland NV | 19874 | 940666 | 60.8 |
|  Heineken Holding NV | 967 | 79841 | 5.2 |
|  Koninklijke Philips NV | 7918 | 136708 | 8.8 |
|  Koninklijke Vopak NV | 1506 | 45377 | 2.9 |
|  NN Group NV | 3315 | 144030 | 9.3 |
|  Randstad NV | 19820 | 1270429 | 82.2 |
|  Signify NV | 587 | 21253 | 1.4 |
|  |  | 2779765 |  |
| **New Zealand** |  |  |  |
|  a2 Milk Co. Ltd. | 7039 | 34035 | 2.2 |
| **Norway** |  |  |  |
|  AutoStore Holdings Ltd. | 33767 | 77978 | 5.0 |
|  Gjensidige Forsikring ASA | 10522 | 189117 | 12.2 |
|  Golden Ocean Group Ltd. | 7838 | 74984 | 4.9 |
|  NEL ASA | 154359 | 264546 | 17.1 |
|  Nordic Semiconductor ASA | 7637 | 120428 | 7.8 |
|  TOMRA Systems ASA | 64773 | 1143459 | 74.0 |
|  Var Energi ASA | 61216 | 186211 | 12.0 |
|  |  | 2056723 |  |
| **Poland** |  |  |  |
|  InPost SA | 3895 | 37615 | 2.4 |
| **Puerto Rico** |  |  |  |
|  Popular, Inc. | 5831 | 400240 | 25.9 |
| **Singapore** |  |  |  |
|  City Developments Ltd. | 2900 | 18406 | 1.2 |
|  ComfortDelGro Corp. Ltd. | 155200 | 142186 | 9.2 |
|  Keppel REIT | 654700 | 482526 | 31.2 |
|  Mapletree Logistics Trust | 42500 | 54944 | 3.6 |
|  Mapletree Pan Asia Commercial Trust | 190400 | 264927 | 17.1 |
|  Sembcorp Industries Ltd. | 279300 | 770218 | 49.8 |
|  StarHub Ltd. | 95300 | 82889 | 5.4 |
|  |  | 1816096 |  |
| **Spain** |  |  |  |
|  Acciona SA | 240 | 46824 | 3.0 |
|  Banco de Sabadell SA | 495055 | 647217 | 41.9 |
|  Bankinter SA | 11419 | 82388 | 5.3 |
|  EDP Renovaveis SA | 6224 | 135379 | 8.8 |
|  Fluidra SA | 40537 | 715642 | 46.3 |
|  Inmobiliaria Colonial Socimi SA | 47904 | 349400 | 22.6 |
|  Merlin Properties Socimi SA | 50286 | 491429 | 31.8 |
|  Repsol SA | 61978 | 1018102 | 65.8 |
|  |  | 3486381 |  |

---

23.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Sweden** |  |  |  |
|  Alfa Laval AB | 5301 | $166587 | 10.8% |
|  Atlas Copco AB, A Shares | 47043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558215 | 36.1 |
|  Atlas Copco AB, B Shares | 58239 | 614282 | 39.7 |
|  Avanza Bank Holding AB | 8892 | 205171 | 13.3 |
|  Beijer Ref AB, Class B | 1625 | 25069 | 1.6 |
|  Elekta AB, B Shares | 7490 | 54518 | 3.5 |
|  Epiroc AB, Class A | 2741 | 53331 | 3.4 |
|  Epiroc AB, Class B | 6328 | 105503 | 6.8 |
|  EQT AB | 10873 | 245347 | 15.9 |
|  Getinge AB, B Shares | 11424 | 257355 | 16.6 |
|  Industrivarden AB, A Shares | 5907 | 156478 | 10.1 |
|  Investor AB, A Shares | 3915 | 78138 | 5.1 |
|  L E Lundbergforetagen AB, B Shares | 7186 | 332764 | 21.5 |
|  Saab AB, Class B | 6052 | 247760 | 16 |
|  Sagax AB, Class B | 2099 | 52213 | 3.4 |
|  SKF AB | 7611 | 134702 | 8.7 |
|  Spotify Technology SA | 6120 | 689846 | 44.6 |
|  Sweco AB, B Shares | 8395 | 91067 | 5.9 |
|  Tele2 AB, B Shares | 36630 | 316356 | 20.5 |
|  Thule Group AB | 4565 | 109395 | 7.1 |
|  Volvo AB, A Shares | 712 | 14791 | 1 |
|  Volvo AB, B Shares | 3819 | 75782 | 4.9 |
|  |  | 4584670 |  |
| **Switzerland** |  |  |  |
|  ABB Ltd., Registered Shares | 106074 | 3693035 | 238.8 |
|  Banque Cantonale Vaudoise, Registered Shares | 2927 | 278232 | 18 |
|  Belimo Holding AG, Registered Shares | 978 | 515841 | 33.4 |
|  Chocoladefabriken Lindt & Spruengli AG | 27 | 296533 | 19.2 |
|  Cie Financiere Richemont SA, Registered Shares | 520 | 80162 | 5.2 |
|  Clariant AG, Registered Shares | 24633 | 422417 | 27.3 |
|  Dufry AG, Registered Shares | 6362 | 290616 | 18.8 |
|  Geberit AG, Registered Shares | 289 | 164436 | 10.6 |
|  Georg Fischer AG, Registered Shares | 1737 | 119762 | 7.7 |
|  Idorsia Ltd. | 2972 | 49991 | 3.2 |
|  Logitech International SA, Registered Shares | 1686 | 98195 | 6.4 |
|  Partners Group Holding AG | 705 | 661499 | 42.8 |
|  Roche Holding AG | 1286 | 470729 | 30.4 |
|  SGS SA, Registered Shares | 206 | 502359 | 32.5 |
|  Sika AG, Registered Shares | 2486 | 706389 | 45.7 |
|  Straumann Holding AG, Registered Shares | 365 | 47792 | 3.1 |
|  Swatch Group AG | 794 | 287482 | 18.6 |
|  TE Connectivity Ltd. | 155 | 19708 | 1.3 |
|  Tecan Group AG, Registered Shares | 697 | 292513 | 18.9 |
|  Temenos AG, Registered Shares | 10662 | 761060 | 49.2 |
|  UBS Group AG, Registered Shares | 7259 | 154946 | 10 |
|  VAT Group AG | 1449 | 451079 | 29.2 |
|  |  | 10364776 |  |
| **United Kingdom** |  |  |  |
|  AstraZeneca PLC | 1993 | 261108 | 16.9 |
|  Atlantica Sustainable Infrastructure PLC | 35800 | 981636 | 63.5 |
|  Aviva PLC | 12920 | 72867 | 4.7 |
|  Barclays PLC | 86071 | 197859 | 12.8 |
|  Beazley PLC | 91410 | 752249 | 48.7 |
|  Bellway PLC | 7592 | 198573 | 12.8 |
|  Centrica PLC | 425019 | 529489 | 34.3 |
|  ConvaTec Group PLC | 452765 | 1313230 | 84.9 |
|  Croda International PLC | 3389 | 288867 | 18.7 |
|  Derwent London PLC | 12055 | 384551 | 24.9 |
|  Direct Line Insurance Group PLC | 290418 | 636783 | 41.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United Kingdom (continued)** |  |  |  |
|  Dr. Martens PLC | 137466 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263461 | 17.0% |
|  Drax Group PLC | 39390 | 314587 | 20.4 |
|  easyJet PLC | 116335 | 708665 | 45.8 |
|  Hays PLC | 396478 | 604926 | 39.1 |
|  IMI PLC | 30418 | 544637 | 35.2 |
|  Intermediate Capital Group PLC | 2812 | 48387 | 3.1 |
|  Intertek Group PLC | 1178 | 63314 | 4.1 |
|  ITV PLC | 2111565 | 2114587 | 136.8 |
|  Johnson Matthey PLC | 12501 | 349187 | 22.6 |
|  Liberty Global PLC, Class A | 28682 | 622113 | 40.2 |
|  Liberty Global PLC, Class C | 4951 | 110655 | 7.2 |
|  LivaNova PLC | 7013 | 394131 | 25.5 |
|  London Stock Exchange Group PLC | 1829 | 167436 | 10.8 |
|  Melrose Industries PLC | 53567 | 94448 | 6.1 |
|  Moneysupermarket.com Group PLC | 2 | 6 | 0.0 |
|  NatWest Group PLC | 34899 | 133142 | 8.6 |
|  Nomad Foods Ltd. | 53127 | 945129 | 61.1 |
|  Pennon Group PLC | 5707 | 64786 | 4.2 |
|  Persimmon PLC | 5783 | 101002 | 6.5 |
|  Renishaw PLC | 5868 | 286407 | 18.5 |
|  Rotork PLC | 36675 | 144471 | 9.3 |
|  Schroders PLC | 169038 | 999655 | 64.7 |
|  Segro PLC | 29002 | 298535 | 19.3 |
|  Severn Trent PLC | 2863 | 99395 | 6.4 |
|  Smith & Nephew PLC | 3023 | 41749 | 2.7 |
|  Spirax-Sarco Engineering PLC | 2369 | 338393 | 21.9 |
|  SSE PLC | 33867 | 719612 | 46.5 |
|  Standard Chartered PLC | 1098 | 9223 | 0.6 |
|  TechnipFMC PLC | 15080 | 209461 | 13.6 |
|  Travis Perkins PLC | 25971 | 325800 | 21.1 |
|  Tritax Big Box REIT PLC | 164535 | 317020 | 20.5 |
|  UNITE Group PLC | 25057 | 308680 | 20.0 |
|  United Utilities Group PLC | 5578 | 72988 | 4.7 |
|  |  | 17433200 |  |
| **United States** |  |  |  |
|  A O Smith Corp. | 14475 | 979957 | 63.4 |
|  Acadia Healthcare Co., Inc. | 2307 | 193834 | 12.5 |
|  Acuity Brands, Inc. | 431 | 81252 | 5.3 |
|  Adobe, Inc. | 4279 | 1584685 | 102.5 |
|  AECOM | 4754 | 414882 | 26.8 |
|  Agilent Technologies, Inc. | 5722 | 870202 | 56.3 |
|  Akamai Technologies, Inc. | 8954 | 796458 | 51.5 |
|  Alcoa Corp. | 5599 | 292492 | 18.9 |
|  Allstate Corp. | 9422 | 1210444 | 78.3 |
|  Alnylam Pharmaceuticals, Inc. | 214 | 48450 | 3.1 |
|  Alteryx, Inc., Class A | 360 | 19976 | 1.3 |
|  Amazon.com, Inc. | 10608 | 1094003 | 70.8 |
|  Amedisys, Inc. | 7493 | 724273 | 46.8 |
|  American Financial Group, Inc. | 1591 | 226861 | 14.7 |
|  AMETEK, Inc. | 4755 | 689095 | 44.6 |
|  Amgen, Inc. | 970 | 244828 | 15.8 |
|  Analog Devices, Inc. | 597 | 102368 | 6.6 |
|  ANSYS, Inc. | 5797 | 1544089 | 99.9 |
|  Aon PLC, Class A | 3914 | 1247314 | 80.7 |
|  APA Corp. | 678 | 30056 | 1.9 |
|  Applied Materials, Inc. | 1109 | 123642 | 8.0 |
|  Armstrong World Industries, Inc. | 3445 | 266677 | 17.2 |
|  Arrow Electronics, Inc. | 190 | 22323 | 1.4 |
|  ASGN, Inc. | 6545 | 595268 | 38.5 |
|  AT&T, Inc. | 41418 | 843685 | 54.6 |

---

S C H E D U L E O F I N V E S T M E N T S 24

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Autodesk, Inc. | 9325 | $2006367 | 129.8% |
|  AutoNation, Inc. | 1938 | 245583 | 15.9 |
|  Avery Dennison Corp. | 4724 | 894915 | 57.9 |
|  Avis Budget Group, Inc. | 2254 | 450890 | 29.2 |
|  Avnet, Inc. | 1048 | 48082 | 3.1 |
|  Bank of New York Mellon Corp. | 376 | 19014 | 1.2 |
|  Beacon Roofing Supply, Inc. | 3310 | 188273 | 12.2 |
|  Becton Dickinson and Co. | 856 | 215900 | 14.0 |
|  Berry Global Group, Inc. | 14696 | 907184 | 58.7 |
|  Best Buy Co., Inc. | 205 | 18188 | 1.2 |
|  Biogen, Inc. | 1500 | 436350 | 28.2 |
|  BioMarin Pharmaceutical, Inc. | 146 | 16746 | 1.1 |
|  Bio-Rad Laboratories, Inc., Class A | 110 | 51421 | 3.3 |
|  Black Hills Corp. | 769 | 55660 | 3.6 |
|  Boeing Co. | 386 | 82218 | 5.3 |
|  Booz Allen Hamilton Holding Corp., Class A | 2625 | 248430 | 16.1 |
|  Boston Beer Co., Inc., Class A | 238 | 92489 | 6.0 |
|  Boston Scientific Corp. | 14154 | 654622 | 42.3 |
|  Box, Inc., Class A | 64866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2075063 | 134.2 |
|  Boyd Gaming Corp. | 15090 | 940258 | 60.8 |
|  Brighthouse Financial, Inc. | 9045 | 508962 | 32.9 |
|  Brown-Forman Corp., Class B | 1166 | 77632 | 5.0 |
|  Bruker Corp. | 1728 | 121167 | 7.8 |
|  Builders FirstSource, Inc. | 10549 | 840755 | 54.4 |
|  CACI International, Inc., Class A | 91 | 28036 | 1.8 |
|  Capital One Financial Corp. | 9366 | 1114554 | 72.1 |
|  Capri Holdings Ltd. | 10233 | 680392 | 44.0 |
|  Carlisle Cos., Inc. | 338 | 84791 | 5.5 |
|  Carnival Corp. | 8122 | 87880 | 5.7 |
|  Catalent, Inc. | 312 | 16708 | 1.1 |
|  CBRE Group, Inc., Class A | 15025 | 1284788 | 83.1 |
|  CH Robinson Worldwide, Inc. | 11734 | 1175395 | 76.0 |
|  Charles River Laboratories International, Inc. | 1249 | 303819 | 19.6 |
|  Chemed Corp. | 450 | 227313 | 14.7 |
|  Chevron Corp. | 5518 | 960242 | 62.1 |
|  Chewy, Inc., Class A | 457 | 20592 | 1.3 |
|  Chipotle Mexican Grill, Inc., Class A | 45 | 74087 | 4.8 |
|  Church & Dwight Co., Inc. | 2769 | 223901 | 14.5 |
|  Ciena Corp. | 392 | 20392 | 1.3 |
|  Cincinnati Financial Corp. | 1464 | 165652 | 10.7 |
|  Cirrus Logic, Inc. | 14469 | 1307853 | 84.6 |
|  Clearway Energy, Inc., Class C | 29950 | 1012010 | 65.4 |
|  CMS Energy Corp. | 3467 | 219080 | 14.2 |
|  Coca-Cola Co. | 3205 | 196531 | 12.7 |
|  Cognex Corp. | 1380 | 75541 | 4.9 |
|  Colgate-Palmolive Co. | 4002 | 298269 | 19.3 |
|  Comerica, Inc. | 1060 | 77709 | 5.0 |
|  Comstock Resources, Inc. | 13247 | 160951 | 10.4 |
|  Costco Wholesale Corp. | 199 | 101717 | 6.6 |
|  Credit Acceptance Corp. | 2016 | 932682 | 60.3 |
|  Crocs, Inc. | 3042 | 370424 | 24.0 |
|  CSX Corp. | 7292 | 225469 | 14.6 |
|  Cummins, Inc. | 1756 | 438192 | 28.3 |
|  Cytokinetics, Inc. | 4551 | 193326 | 12.5 |
|  Danaher Corp. | 3760 | 994069 | 64.3 |
|  Darling Ingredients, Inc. | 9636 | 638770 | 41.3 |
|  DaVita, Inc. | 777 | 64017 | 4.1 |
|  Dell Technologies, Inc., Class C | 1378 | 55974 | 3.6 |
|  DENTSPLY SIRONA, Inc. | 22389 | 824587 | 53.3 |
|  Devon Energy Corp. | 6855 | 433510 | 28.0 |
|  DocuSign, Inc., Class A | 1086 | 65855 | 4.3 |
|  Dolby Laboratories, Inc., Class A | 11665 | 928067 | 60.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Dollar General Corp. | 5242 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1224531 | 79.2% |
|  Dollar Tree, Inc. | 1972 | 296155 | 19.2 |
|  Domino's Pizza, Inc. | 3168 | 1118304 | 72.3 |
|  Donaldson Co., Inc. | 341 | 21261 | 1.4 |
|  DoubleVerify Holdings, Inc. | 3702 | 100657 | 6.5 |
|  Douglas Emmett, Inc. | 1354 | 22679 | 1.5 |
|  Dropbox, Inc., Class A | 10181 | 236505 | 15.3 |
|  DuPont de Nemours, Inc. | 14247 | 1053566 | 68.1 |
|  DXC Technology Co. | 21895 | 629043 | 40.7 |
|  Eastman Chemical Co. | 3515 | 309918 | 20 |
|  Eaton Corp. PLC | 339 | 54989 | 3.6 |
|  eBay, Inc. | 41024 | 2030688 | 131.3 |
|  Ecolab, Inc. | 4779 | 739933 | 47.9 |
|  Electronic Arts, Inc. | 983 | 126492 | 8.2 |
|  Elevance Health, Inc. | 31 | 15500 | 1 |
|  Emerson Electric Co. | 5326 | 480512 | 31.1 |
|  Enovis Corp. | 12955 | 815517 | 52.7 |
|  Entegris, Inc. | 2971 | 239789 | 15.5 |
|  Envista Holdings Corp. | 12551 | 489363 | 31.6 |
|  EOG Resources, Inc. | 1958 | 258945 | 16.7 |
|  EPAM Systems, Inc. | 1413 | 470034 | 30.4 |
|  Equinix, Inc. | 463 | 341754 | 22.1 |
|  Equity Residential | 19674 | 1252250 | 81 |
|  Etsy, Inc. | 769 | 105799 | 6.8 |
|  Everest Re Group Ltd. | 1061 | 371021 | 24 |
|  Evergy, Inc. | 8333 | 522062 | 33.8 |
|  Exelixis, Inc. | 1857 | 32720 | 2.1 |
|  Exxon Mobil Corp. | 5195 | 602672 | 39 |
|  F5, Inc. | 8336 | 1230894 | 79.6 |
|  FactSet Research Systems, Inc. | 647 | 273642 | 17.7 |
|  FedEx Corp. | 1339 | 259579 | 16.8 |
|  Fidelity National Information Services, Inc. | 8421 | 631912 | 40.9 |
|  First Solar, Inc. | 401 | 71218 | 4.6 |
|  Floor & Decor Holdings, Inc., Class A | 1687 | 153129 | 9.9 |
|  Flowserve Corp. | 16524 | 568756 | 36.8 |
|  Ford Motor Co. | 8421 | 113768 | 7.4 |
|  Fortinet, Inc. | 22439 | 1174457 | 76 |
|  Fox Corp., Class A | 8303 | 281804 | 18.2 |
|  Fox Corp., Class B | 19908 | 631084 | 40.8 |
|  FTI Consulting, Inc. | 3253 | 518919 | 33.6 |
|  Garmin Ltd. | 325 | 32136 | 2.1 |
|  Gartner, Inc. | 1167 | 394609 | 25.5 |
|  Gentex Corp. | 29521 | 871165 | 56.3 |
|  Globus Medical, Inc., Class A | 5136 | 387768 | 25.1 |
|  Graco, Inc. | 15747 | 1075835 | 69.6 |
|  Grocery Outlet Holding Corp. | 12694 | 385771 | 24.9 |
|  Guidewire Software, Inc. | 3305 | 242058 | 15.7 |
|  H&R Block, Inc. | 1265 | 49310 | 3.2 |
|  Halozyme Therapeutics, Inc. | 4624 | 239384 | 15.5 |
|  Hanover Insurance Group, Inc. | 2670 | 359329 | 23.2 |
|  HB Fuller Co. | 4093 | 282826 | 18.3 |
|  HealthEquity, Inc. | 539 | 32798 | 2.1 |
|  Helmerich & Payne, Inc. | 803 | 38897 | 2.5 |
|  Hexcel Corp. | 1348 | 95142 | 6.2 |
|  HF Sinclair Corp. | 1625 | 92462 | 6 |
|  Hilton Worldwide Holdings, Inc. | 4033 | 585148 | 37.8 |
|  Home Depot, Inc. | 1662 | 538771 | 34.8 |
|  Howard Hughes Corp. | 1699 | 145248 | 9.4 |
|  HP, Inc. | 26114 | 760962 | 49.2 |
|  HubSpot, Inc. | 1426 | 494836 | 32 |
|  Huntsman Corp. | 20948 | 663842 | 42.9 |
|  ICU Medical, Inc. | 2373 | 458535 | 29.7 |

---

25.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  IDEXX Laboratories, Inc. | 1649 | $792344 | 51.2% |
|  Illinois Tool Works, Inc. | 2307 | 544544 | 35.2 |
|  Illumina, Inc. | 190 | 40698 | 2.6 |
|  Inari Medical, Inc. | 223 | 12722 | 0.8 |
|  Intel Corp. | 11776 | 332790 | 21.5 |
|  International Paper Co. | 12518 | 523503 | 33.9 |
|  Intuit, Inc. | 1742 | 736291 | 47.6 |
|  Intuitive Surgical, Inc. | 1159 | 284755 | 18.4 |
|  Invesco Ltd. | 83275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1541420 | 99.7 |
|  Ionis Pharmaceuticals, Inc. | 1861 | 74198 | 4.8 |
|  IPG Photonics Corp. | 1257 | 140910 | 9.1 |
|  IQVIA Holdings, Inc. | 3872 | 888276 | 57.4 |
|  Iron Mountain, Inc. | 4642 | 253360 | 16.4 |
|  Jabil, Inc. | 2220 | 174559 | 11.3 |
|  Jacobs Solutions, Inc. | 6209 | 767122 | 49.6 |
|  JB Hunt Transport Services, Inc. | 1665 | 314768 | 20.4 |
|  Johnson & Johnson | 1883 | 307720 | 19.9 |
|  Johnson Controls International PLC | 286 | 19897 | 1.3 |
|  Jones Lang LaSalle, Inc. | 7535 | 1392995 | 90.1 |
|  Juniper Networks, Inc. | 16185 | 522775 | 33.8 |
|  KBR, Inc. | 2806 | 143751 | 9.3 |
|  Kellogg Co. | 24981 | 1713197 | 110.8 |
|  KeyCorp. | 54423 | 1044377 | 67.5 |
|  Knight-Swift Transportation Holdings, Inc. | 332 | 19621 | 1.3 |
|  L3Harris Technologies, Inc. | 1467 | 315141 | 20.4 |
|  Lam Research Corp. | 573 | 286557 | 18.5 |
|  Lamar Advertising Co., Class A | 158 | 16833 | 1.1 |
|  Landstar System, Inc. | 2584 | 446593 | 28.9 |
|  Las Vegas Sands Corp. | 875 | 51625 | 3.3 |
|  Lennar Corp., Class A | 2705 | 276992 | 17.9 |
|  Lennox International, Inc. | 485 | 126401 | 8.2 |
|  Liberty Broadband Corp. | 807 | 72452 | 4.7 |
|  Light & Wonder, Inc. | 1412 | 92133 | 6.0 |
|  LKQ Corp. | 3343 | 197103 | 12.7 |
|  Louisiana-Pacific Corp. | 44623 | 3038380 | 196.5 |
|  Lowe's Cos., Inc. | 1464 | 304878 | 19.7 |
|  Lumen Technologies, Inc. | 21981 | 115400 | 7.5 |
|  M&T Bank Corp. | 1549 | 241644 | 15.6 |
|  MACOM Technology Solutions Holdings, Inc. | 2840 | 190337 | 12.3 |
|  Macy's, Inc. | 55433 | 1309882 | 84.7 |
|  Manhattan Associates, Inc. | 6874 | 896095 | 58.0 |
|  Marathon Oil Corp. | 45863 | 1259857 | 81.5 |
|  Marathon Petroleum Corp. | 2599 | 334023 | 21.6 |
|  Marriott Vacations Worldwide Corp. | 1318 | 210933 | 13.6 |
|  Marsh & McLennan Cos., Inc. | 2916 | 510038 | 33.0 |
|  Martin Marietta Materials, Inc. | 1470 | 528671 | 34.2 |
|  Masco Corp. | 28665 | 1524978 | 98.6 |
|  Matador Resources Co. | 8063 | 533448 | 34.5 |
|  Match Group, Inc. | 8044 | 435341 | 28.2 |
|  MaxLinear, Inc. | 64011 | 2637253 | 170.6 |
|  McCormick & Co., Inc. | 35732 | 2684188 | 173.6 |
|  Medical Properties Trust, Inc. | 20661 | 267560 | 17.3 |
|  Meritage Homes Corp. | 3690 | 397376 | 25.7 |
|  Mettler-Toledo International, Inc. | 414 | 634629 | 41.0 |
|  MGIC Investment Corp. | 102149 | 1442344 | 93.3 |
|  MGM Resorts International | 68295 | 2828096 | 182.9 |
|  Micron Technology, Inc. | 8651 | 521655 | 33.7 |
|  Microsoft Corp. | 4158 | 1030394 | 66.6 |
|  Middleby Corp. | 397 | 61714 | 4.0 |
|  Molson Coors Beverage Co., Class B | 5058 | 265950 | 17.2 |
|  Moody's Corp. | 4255 | 1373301 | 88.8 |
|  Mosaic Co. | 1681 | 83277 | 5.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  NetApp, Inc. | 1302 | $86231 | 5.6% |
|  Neurocrine Biosciences, Inc. | 1199 | 133005 | 8.6 |
|  New Relic, Inc. | 289 | 17643 | 1.1 |
|  Nordson Corp. | 2779 | 676131 | 43.7 |
|  Nordstrom, Inc. | 1207 | 23585 | 1.5 |
|  Norfolk Southern Corp. | 617 | 151665 | 9.8 |
|  Northern Trust Corp. | 5578 | 540899 | 35 |
|  Northrop Grumman Corp. | 368 | 164879 | 10.7 |
|  NRG Energy, Inc. | 138 | 4722 | 0.3 |
|  Nucor Corp. | 2545 | 430156 | 27.8 |
|  NVIDIA Corp. | 4929 | 962979 | 62.3 |
|  NVR, Inc. | 15 | 79050 | 5.1 |
|  Occidental Petroleum Corp. | 3439 | 222813 | 14.4 |
|  OneMain Holdings, Inc. | 2408 | 103881 | 6.7 |
|  Oshkosh Corp. | 339 | 34164 | 2.2 |
|  Otis Worldwide Corp. | 3014 | 247841 | 16 |
|  Outfront Media, Inc. | 16561 | 329564 | 21.3 |
|  Ovintiv, Inc. | 26679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313407 | 84.9 |
|  Ovintiv, Inc. | 2692 | 132339 | 8.6 |
|  Owens Corning | 255 | 24646 | 1.6 |
|  PacWest Bancorp | 49476 | 1368506 | 88.5 |
|  Papa John's International, Inc. | 12767 | 1145072 | 74.1 |
|  Paramount Global, Class B | 17368 | 402243 | 26 |
|  Park Hotels & Resorts, Inc. | 19146 | 281638 | 18.2 |
|  Patterson-UTI Energy, Inc. | 62370 | 1047816 | 67.8 |
|  PDC Energy, Inc. | 1595 | 108029 | 7 |
|  Penn Entertainment, Inc. | 10231 | 362689 | 23.5 |
|  Penske Automotive Group, Inc. | 4050 | 517671 | 33.5 |
|  PepsiCo, Inc. | 15194 | 2598478 | 168.1 |
|  Perrigo Co. PLC | 28154 | 1053523 | 68.1 |
|  Petco Health & Wellness Co., Inc., Class A | 12019 | 140502 | 9.1 |
|  Pinnacle Financial Partners, Inc. | 3055 | 240520 | 15.6 |
|  Pinterest, Inc., Class A | 5795 | 152351 | 9.9 |
|  Portland General Electric Co. | 674 | 32069 | 2.1 |
|  Post Holdings, Inc. | 12847 | 1219823 | 78.9 |
|  PPG Industries, Inc. | 4926 | 642055 | 41.5 |
|  Primo Water Corp. | 43471 | 679566 | 43.9 |
|  Prudential Financial, Inc. | 1786 | 187423 | 12.1 |
|  PTC Therapeutics, Inc. | 1216 | 55802 | 3.6 |
|  Public Service Enterprise Group, Inc. | 5461 | 338200 | 21.9 |
|  PulteGroup, Inc. | 3353 | 190752 | 12.3 |
|  Qorvo, Inc. | 6512 | 707594 | 45.8 |
|  Ralph Lauren Corp., Class A | 6561 | 812580 | 52.6 |
|  Red Rock Resorts, Inc., Class A | 10381 | 467249 | 30.2 |
|  Reliance Steel & Aluminum Co. | 2148 | 488563 | 31.6 |
|  Repligen Corp. | 2414 | 447314 | 28.9 |
|  Republic Services, Inc., Class A | 18263 | 2279588 | 147.4 |
|  Robert Half International, Inc. | 5047 | 423746 | 27.4 |
|  ROBLOX Corp., Class A | 10298 | 383189 | 24.8 |
|  Roper Technologies, Inc. | 278 | 118636 | 7.7 |
|  RPM International, Inc. | 7009 | 630179 | 40.8 |
|  S&P Global, Inc. | 1980 | 742381 | 48 |
|  Saia, Inc. | 232 | 63285 | 4.1 |
|  Salesforce, Inc. | 11 | 1848 | 0.1 |
|  Sarepta Therapeutics, Inc. | 120 | 14996 | 1 |
|  SBA Communications Corp., Class A | 2169 | 645343 | 41.7 |
|  Schlumberger Ltd. | 104 | 5926 | 0.4 |
|  Scotts Miracle-Gro Co. | 5273 | 380658 | 24.6 |
|  Seagen, Inc. | 1035 | 144362 | 9.3 |
|  SEI Investments Co. | 4884 | 304908 | 19.7 |
|  Sherwin-Williams Co. | 2000 | 473180 | 30.6 |
|  Silicon Laboratories, Inc. | 4861 | 762740 | 49.3 |

---

S C H E D U L E O F I N V E S T M E N T S 26

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Sims Ltd. | 16936 | $183890 | 11.9% |
|  SiteOne Landscape Supply, Inc. | 1574 | 238477 | 15.4 |
|  Snap, Inc., Class A | 17617 | 203653 | 13.2 |
|  Southwest Airlines Co. | 19750 | 706457 | 45.7 |
|  Steel Dynamics, Inc. | 2424 | 292431 | 18.9 |
|  Stifel Financial Corp. | 9993 | 673628 | 43.6 |
|  Stryker Corp. | 3081 | 781989 | 50.6 |
|  Synchrony Financial | 5375 | 197424 | 12.8 |
|  Syneos Health, Inc. | 26749 | 960824 | 62.1 |
|  Synopsys, Inc. | 788 | 278755 | 18 |
|  T Rowe Price Group, Inc. | 6148 | 716058 | 46.3 |
|  Take-Two Interactive Software, Inc. | 2245 | 254201 | 16.4 |
|  Tapestry, Inc. | 14567 | 663818 | 42.9 |
|  TD SYNNEX Corp. | 12913 | 1319063 | 85.3 |
|  Tempur Sealy International, Inc. | 12321 | 502081 | 32.5 |
|  Tenable Holdings, Inc. | 581 | 23374 | 1.5 |
|  Teradata Corp. | 26179 | 913124 | 59.1 |
|  Teradyne, Inc. | 37734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3837548 | 248.2 |
|  Tetra Tech, Inc. | 3529 | 548830 | 35.5 |
|  Texas Instruments, Inc. | 2923 | 517985 | 33.5 |
|  Textron, Inc. | 17203 | 1253239 | 81.1 |
|  Timken Co. | 810 | 66703 | 4.3 |
|  TJX Cos., Inc. | 4809 | 393665 | 25.5 |
|  Toll Brothers, Inc. | 9529 | 566880 | 36.7 |
|  TopBuild Corp. | 1214 | 242873 | 15.7 |
|  Toro Co. | 5962 | 664882 | 43 |
|  Tractor Supply Co. | 1750 | 398982 | 25.8 |
|  Transocean Ltd. | 59359 | 400080 | 25.9 |
|  Travel & Leisure Co. | 712 | 30167 | 2 |
|  Trex Co., Inc. | 14595 | 769448 | 49.8 |
|  Trimble, Inc. | 31468 | 1827032 | 118.2 |
|  Tyler Technologies, Inc. | 428 | 138146 | 8.9 |
|  U.S. Bancorp. | 6491 | 323252 | 20.9 |
|  U.S. Steel Corp. | 44305 | 1262249 | 81.6 |
|  UGI Corp. | 2996 | 119331 | 7.7 |
|  Umpqua Holdings Corp. | 13116 | 238711 | 15.4 |
|  Union Pacific Corp. | 2177 | 444522 | 28.7 |
|  United Parcel Service, Inc., Class B | 335 | 62052 | 4 |
|  United Therapeutics Corp. | 57 | 15001 | 1 |
|  Vail Resorts, Inc. | 4364 | 1144852 | 74 |
|  Veeva Systems, Inc., Class A | 542 | 92438 | 6 |
|  VeriSign, Inc. | 3339 | 728069 | 47.1 |
|  Verisk Analytics, Inc., Class A | 1976 | 359217 | 23.2 |
|  Verizon Communications, Inc. | 3347 | 139135 | 9 |
|  Vertex Pharmaceuticals, Inc. | 39 | 12601 | 0.8 |
|  VF Corp. | 45866 | 1419094 | 91.8 |
|  Visteon Corp. | 991 | 154933 | 10 |
|  Vistra Corp. | 35260 | 813096 | 52.6 |
|  Vitesse Energy, Inc. | 1266 | 20205 | 1.3 |
|  Vulcan Materials Co. | 402 | 73699 | 4.8 |
|  Walmart, Inc. | 2208 | 317665 | 20.5 |
|  Waste Management, Inc. | 5327 | 824247 | 53.3 |
|  Waters Corp. | 2862 | 940396 | 60.8 |
|  Watsco, Inc. | 2848 | 818430 | 52.9 |
|  Wells Fargo & Co. | 4088 | 191605 | 12.4 |
|  Westrock Co. | 2455 | 96334 | 6.2 |
|  WeWork, Inc., Class A | 51 | 81 | 0 |
|  Weyerhaeuser Co. | 9097 | 313210 | 20.3 |
|  Williams-Sonoma, Inc. | 1285 | 173398 | 11.2 |
|  Xylem, Inc. | 9137 | 950339 | 61.5 |
|  YETI Holdings, Inc. | 1745 | 78106 | 5.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Zions Bancorp NA | 533 | $28334 | 1.8% |
|  Zoetis, Inc. | 11330 | 1875002 | 121.3 |
|  Zurn Elkay Water Solutions Corp. | 973 | 21270 | 1.4 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;173114320 |  |
| **Preferred Stocks** |  |  |  |
| **Germany** |  |  |  |
|  Bayerische Motoren Werke AG | 1538 | 145708 | 9.4 |
|  Fuchs Petrolub SE | 6251 | 249380 | 16.2 |
|  Porsche Automobil Holding SE | 6256 | 374088 | 24.2 |
|  |  | 769176 |  |
| **Warrants** |  |  |  |
| **Australia** |  |  |  |
|  Magellan Financial Group Ltd., (Issued/Exercisable 04/14/22, 1 Share for 1 Warrant, Expires 04/16/27, Strike Price AUD 35.00) | 679 | 127 | 0.0 |
|  **Total Reference Entity — Long** |  | 348116676 |  |
|  **Reference Entity — Short** |  |  |  |
| **Common Stocks** |  |  |  |
| **Australia** |  |  |  |
|  ALS Ltd. | (4372) | (40563) | (2.6) |
|  Champion Iron Ltd. | (97978) | (498559) | (32.3) |
|  Core Lithium Ltd. | (172271) | (143660) | (9.3) |
|  Evolution Mining Ltd. | (8003) | (18186) | (1.2) |
|  Flutter Entertainment PLC | (33328) | (5176938) | (334.8) |
|  Goodman Group. | (32662) | (465877) | (30.1) |
|  Newcrest Mining Ltd. | (5530) | (87778) | (5.7) |
|  Seven Group Holdings Ltd. | (20200) | (325113) | (21.0) |
|  |  | (6756674) |  |
| **Austria** |  |  |  |
|  Voestalpine AG | (3251) | (108020) | (7.0) |
| **Belgium** |  |  |  |
|  D'ieteren Group. | (5498) | (1050752) | (67.9) |
|  Elia Group SA | (3211) | (450883) | (29.2) |
|  Galapagos NV | (4337) | (191949) | (12.4) |
|  Proximus SADP | (104819) | (1074092) | (69.5) |
|  UCB SA | (5976) | (490657) | (31.7) |
|  |  | (3258333) |  |
| **Bermuda** |  |  |  |
|  Arch Capital Group Ltd. | (769) | (49485) | (3.2) |
|  RenaissanceRe Holdings Ltd. | (976) | (190994) | (12.3) |
|  |  | (240479) |  |
| **Brazil** |  |  |  |
|  Yara International ASA | (19832) | (881161) | (57.0) |
| **Canada** |  |  |  |
|  Air Canada | (44975) | (763245) | (49.4) |
|  Alimentation Couche-Tard, Inc. | (10235) | (467385) | (30.2) |
|  AltaGas Ltd. | (3647) | (68195) | (4.4) |
|  Atco Ltd., Class I | (5609) | (178486) | (11.5) |
|  ATS Corp. | (754) | (30533) | (2.0) |
|  BlackBerry Ltd. | (7308) | (31197) | (2.0) |
|  Boyd Group Services, Inc. | (1791) | (273896) | (17.7) |
|  Canadian Apartment Properties REIT | (29031) | (1073485) | (69.4) |
|  Canadian Solar, Inc. | (4390) | (184687) | (12.0) |
|  Canadian Tire Corp. Ltd., Class A | (9693) | (1152480) | (74.5) |
|  Canadian Utilities Ltd., Class A | (7519) | (208976) | (13.5) |

---

27.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Canada (continued)** |  |  |  |
|  CCL Industries, Inc., Class B | (15778) | $(737939) | (47.7)% |
|  Dream Industrial Real Estate Investment Trust | (83178) | (875196) | (56.6) |
|  Fairfax Financial Holdings Ltd. | (385) | (254883) | (16.5) |
|  Finning International, Inc. | (52865) | (1491528) | (96.5) |
|  George Weston Ltd. | (16762) | (2156365) | (139.5) |
|  iA Financial Corp., Inc. | (10329) | (637572) | (41.2) |
|  IGM Financial, Inc. | (4276) | (133465) | (8.6) |
|  Intact Financial Corp. | (10181) | (1477012) | (95.5) |
|  Loblaw Cos. Ltd. | (5397) | (483501) | (31.3) |
|  Metro, Inc. | (17477) | (948622) | (61.4) |
|  Nuvei Corp. | (24208) | (854571) | (55.3) |
|  Onex Corp. | (4301) | (222299) | (14.4) |
|  Parkland Corp. | (51007) | (1198361) | (77.5) |
|  Power Corp. of Canada | (7602) | (206198) | (13.3) |
|  Quebecor, Inc., Class B | (23603) | (559852) | (36.2) |
|  Saputo, Inc. | (36349) | (1002053) | (64.8) |
|  SNC-Lavalin Group, Inc. | (3556) | (76302) | (4.9) |
|  Tamarack Valley Energy Ltd. | (361283) | (1308770) | (84.6) |
|  Thomson Reuters Corp. | (1579) | (187835) | (12.2) |
|  Toromont Industries Ltd. | (14122) | (1128125) | (73.0) |
|  WSP Global, Inc. | (7177) | (915256) | (59.2) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(21288270) |  |
| **China** |  |  |  |
|  Futu Holdings Ltd., ADR | (2122) | (107713) | (7.0) |
| **Denmark** |  |  |  |
|  Ambu A/S, Class B | (16813) | (232243) | (15.0) |
|  AP Moller - Maersk A/S, Class B | (128) | (278437) | (18.0) |
|  Bavarian Nordic A/S | (24177) | (774231) | (50.1) |
|  Danske Bank A/S | (49589) | (1033116) | (66.8) |
|  DSV A/S | (1388) | (229617) | (14.9) |
|  ISS A/S | (14312) | (312913) | (20.2) |
|  Novo Nordisk A/S, Class B | (530) | (73347) | (4.8) |
|  Orsted A/S | (3543) | (315511) | (20.4) |
|  Tryg A/S | (16251) | (372929) | (24.1) |
|  |  | (3622344) |  |
| **Finland** |  |  |  |
|  Elisa OYJ | (3402) | (193822) | (12.5) |
|  Kesko OYJ, B Shares | (35623) | (829784) | (53.7) |
|  Kojamo OYJ | (12463) | (191364) | (12.4) |
|  Nordea Bank Abp | (85729) | (1002205) | (64.8) |
|  UPM-Kymmene OYJ | (6221) | (225488) | (14.6) |
|  |  | (2442663) |  |
| **France** |  |  |  |
|  Air France-KLM | (73388) | (124062) | (8.0) |
|  Airbus SE | (5745) | (720227) | (46.6) |
|  Amundi SA | (7841) | (513350) | (33.2) |
|  AXA SA | (7804) | (243477) | (15.8) |
|  BioMerieux | (7757) | (790794) | (51.1) |
|  Constellium SE, Class A | (3820) | (55505) | (3.6) |
|  Eiffage SA | (2325) | (248335) | (16.1) |
|  Elis SA | (46216) | (811706) | (52.5) |
|  Eramet SA | (5446) | (544290) | (35.2) |
|  Eurazeo SE | (9684) | (679305) | (43.9) |
|  Getlink SE | (960) | (16237) | (1.1) |
|  Ipsen SA | (586) | (61551) | (4.0) |
|  La Francaise des Jeux SAEM | (12030) | (514740) | (33.3) |
|  L'Oreal SA | (451) | (186223) | (12.0) |
|  Orange SA | (39487) | (417881) | (27.0) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **France (continued)** |  |  |  |
|  Publicis Groupe SA | (265) | $(18651) | (1.2)% |
|  Safran SA | (3629) | (521834) | (33.8) |
|  Sanofi | (3092) | (302782) | (19.6) |
|  Sartorius Stedim Biotech | (1114) | (388595) | (25.1) |
|  Sodexo SA | (882) | (87435) | (5.7) |
|  Somfy SA | (5784) | (899072) | (58.1) |
|  Technip Energies NV | (3132) | (60625) | (3.9) |
|  Thales SA | (2352) | (311074) | (20.1) |
|  Unibail-Rodamco-Westfield | (2325) | (150463) | (9.7) |
|  Worldline SA | (16347) | (741596) | (48.0) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9409810) |  |
| **Germany** |  |  |  |
|  AIXTRON SE | (5745) | (171175) | (11.1) |
|  Aurubis AG | (2173) | (229810) | (14.9) |
|  Bayer AG, Registered Shares | (20878) | (1299550) | (84.0) |
|  Bechtle AG | (18632) | (785167) | (50.8) |
|  Brenntag SE | (1036) | (77335) | (5.0) |
|  Continental AG | (4793) | (336542) | (21.8) |
|  CTS Eventim AG & Co. KGaA | (1296) | (90975) | (5.9) |
|  Deutsche Boerse AG | (1483) | (265371) | (17.1) |
|  Deutsche Post AG, Registered Shares | (2900) | (124865) | (8.1) |
|  Deutsche Wohnen SE | (9215) | (217652) | (14.1) |
|  Evotec SE | (9449) | (185796) | (12.0) |
|  GEA Group AG | (7787) | (351349) | (22.7) |
|  Gerresheimer AG | (3937) | (291157) | (18.8) |
|  HelloFresh SE | (4650) | (113048) | (7.3) |
|  HUGO BOSS AG | (1790) | (121559) | (7.8) |
|  KION Group AG | (1525) | (61406) | (4.0) |
|  MTU Aero Engines AG | (287) | (71725) | (4.6) |
|  Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered Shares | (854) | (308471) | (19.9) |
|  Rational AG | (122) | (80250) | (5.2) |
|  Siemens Healthineers AG | (5043) | (270449) | (17.5) |
|  Sixt SE | (8097) | (1006707) | (65.1) |
|  Telefonica Deutschland Holding AG | (83309) | (245376) | (15.9) |
|  Traton SE | (12876) | (222520) | (14.4) |
|  United Internet AG, Registered Shares | (1841) | (42741) | (2.8) |
|  |  | (6970996) |  |
| **Hong Kong** |  |  |  |
|  Guotai Junan International Holdings Ltd. | (17000) | (1696) | (0.1) |
|  Techtronic Industries Co. Ltd. | (3000) | (38675) | (2.5) |
|  |  | (40371) |  |
| **Ireland** |  |  |  |
|  DCC PLC | (9627) | (548334) | (35.5) |
|  ICON PLC, ADR | (2151) | (496257) | (32.1) |
|  Jazz Pharmaceuticals PLC | (3416) | (535151) | (34.6) |
|  Smurfit Kappa Group PLC | (3079) | (129270) | (8.3) |
|  |  | (1709012) |  |
| **Isle of Man** |  |  |  |
|  Entain PLC | (12553) | (231486) | (15.0) |
| **Israel** |  |  |  |
|  Ashtrom Group Ltd. | (4262) | (80700) | (5.2) |
|  CyberArk Software Ltd. | (544) | (76639) | (5.0) |
|  Global-e Online Ltd. | (2131) | (63866) | (4.1) |
|  ICL Group Ltd. | (97870) | (777052) | (50.3) |
|  Mobileye Global, Inc., Class A | (18412) | (710703) | (46.0) |
|  Shapir Engineering and Industry Ltd. | (4381) | (33235) | (2.1) |

---

S C H E D U L E O F I N V E S T M E N T S 28

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Israel (continued)** |  |  |  |
|  Shikun & Binui Ltd. | (35776) | $(104867) | (6.8)% |
|  SolarEdge Technologies, Inc. | (1755) | (560073) | (36.2) |
|  Teva Pharmaceutical Industries Ltd., ADR | (10717) | (112957) | (7.3) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2520092) |  |
| **Italy** |  |  |  |
|  Assicurazioni Generali SpA | (23246) | (453792) | (29.4) |
|  Banca Mediolanum SpA | (4985) | (47507) | (3.1) |
|  DiaSorin SpA | (1636) | (212974) | (13.8) |
|  Eni SpA | (62337) | (959256) | (62.0) |
|  Interpump Group SpA | (6344) | (330839) | (21.4) |
|  Leonardo SpA | (30928) | (318501) | (20.6) |
|  Poste Italiane SpA | (18860) | (201501) | (13.0) |
|  |  | (2524370) |  |
| **Japan** |  |  |  |
|  Activia Properties, Inc. | (50) | (149733) | (9.7) |
|  Advance Residence Investment Corp. | (125) | (305345) | (19.8) |
|  Advantest Corp. | (4600) | (329733) | (21.3) |
|  Ajinomoto Co., Inc. | (2100) | (69234) | (4.5) |
|  Alps Alpine Co. Ltd. | (3000) | (30738) | (2.0) |
|  Amada Co. Ltd. | (5900) | (52998) | (3.4) |
|  Ariake Japan Co. Ltd. | (5000) | (168653) | (10.9) |
|  Asics Corp. | (7400) | (176124) | (11.4) |
|  Azbil Corp. | (600) | (16919) | (1.1) |
|  Bandai Namco Holdings, Inc. | (20000) | (1337475) | (86.5) |
|  Bank of Kyoto Ltd. | (1600) | (74445) | (4.8) |
|  BayCurrent Consulting, Inc. | (4900) | (208297) | (13.5) |
|  Benefit One, Inc. | (12200) | (201361) | (13.0) |
|  BIPROGY, Inc. | (4400) | (114958) | (7.4) |
|  Bridgestone Corp. | (21600) | (806397) | (52.2) |
|  Calbee, Inc. | (5500) | (124213) | (8.0) |
|  Capcom Co. Ltd. | (2400) | (77769) | (5.0) |
|  Casio Computer Co. Ltd. | (7700) | (79596) | (5.2) |
|  Central Japan Railway Co. | (1300) | (158567) | (10.3) |
|  Chiba Bank Ltd. | (77200) | (584126) | (37.8) |
|  Chugin Financial Group, Inc. | (5400) | (39294) | (2.5) |
|  Concordia Financial Group Ltd. | (113600) | (499200) | (32.3) |
|  Credit Saison Co. Ltd. | (15200) | (199142) | (12.9) |
|  Daido Steel Co. Ltd. | (12400) | (468847) | (30.3) |
|  Daito Trust Construction Co. Ltd. | (500) | (49245) | (3.2) |
|  Daiwa Office Investment Corp. | (89) | (419101) | (27.1) |
|  Daiwa Securities Living Investments Corp. | (226) | (189096) | (12.2) |
|  Descente Ltd. | (5800) | (160668) | (10.4) |
|  Eisai Co. Ltd. | (500) | (30935) | (2.0) |
|  Electric Power Development Co. Ltd. | (22600) | (364731) | (23.6) |
|  ENEOS Holdings, Inc. | (24300) | (86999) | (5.6) |
|  FP Corp. | (8800) | (239137) | (15.5) |
|  Fuji Kyuko Co. Ltd. | (3400) | (119444) | (7.7) |
|  Fujitsu General Ltd. | (5700) | (161116) | (10.4) |
|  Fukuoka Financial Group, Inc. | (25100) | (579097) | (37.5) |
|  Furukawa Electric Co. Ltd. | (16800) | (326061) | (21.1) |
|  Fuyo General Lease Co. Ltd. | (1600) | (109964) | (7.1) |
|  GLP J-Reit | (145) | (164076) | (10.6) |
|  Goldwin, Inc. | (2000) | (152364) | (9.9) |
|  GS Yuasa Corp. | (44600) | (780458) | (50.5) |
|  GungHo Online Entertainment, Inc. | (50700) | (844937) | (54.6) |
|  Hakuhodo DY Holdings, Inc. | (45200) | (488492) | (31.6) |
|  Harmonic Drive Systems, Inc. | (11600) | (390699) | (25.3) |
|  Heiwa Corp. | (17300) | (313891) | (20.3) |
|  Hikari Tsushin, Inc. | (4600) | (656596) | (42.5) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Hirogin Holdings, Inc. | (107900) | $(562638) | (36.4)% |
|  Hisamitsu Pharmaceutical Co., Inc. | (8200) | (255347) | (16.5) |
|  Hitachi Construction Machinery Co. Ltd. | (5500) | (129708) | (8.4) |
|  Hoshizaki Corp. | (35200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1265308) | (81.8) |
|  Ibiden Co. Ltd. | (13600) | (530793) | (34.3) |
|  Idemitsu Kosan Co. Ltd. | (42900) | (1072533) | (69.4) |
|  Iida Group Holdings Co. Ltd. | (7100) | (118360) | (7.7) |
|  Industrial & Infrastructure Fund Investment Corp. | (319) | (353528) | (22.9) |
|  Isuzu Motors Ltd. | (27700) | (350276) | (22.7) |
|  Ito En Ltd. | (4800) | (171263) | (11.1) |
|  ITOCHU Corp. | (18200) | (588257) | (38.0) |
|  Itoham Yonekyu Holdings, Inc. | (8100) | (44472) | (2.9) |
|  Iwatani Corp. | (10100) | (435322) | (28.2) |
|  Iyogin Holdings, Inc. | (32500) | (183423) | (11.9) |
|  Japan Airport Terminal Co. Ltd. | (3500) | (182435) | (11.8) |
|  Japan Aviation Electronics Industry Ltd. | (30000) | (515393) | (33.3) |
|  Japan Hotel REIT Investment Corp. | (1949) | (1235054) | (79.9) |
|  Japan Logistics Fund, Inc. | (64) | (145935) | (9.4) |
|  Japan Metropolitan Fund Invest | (909) | (702733) | (45.5) |
|  Japan Post Holdings Co Ltd. | (4000) | (35032) | (2.3) |
|  Japan Post Insurance Co. Ltd. | (25300) | (451351) | (29.2) |
|  Japan Prime Realty Investment Corp. | (29) | (78672) | (5.1) |
|  Japan Real Estate Investment Corp. | (371) | (1590659) | (102.9) |
|  JCR Pharmaceuticals Co. Ltd. | (8600) | (106110) | (6.9) |
|  JMDC, Inc. | (22700) | (750198) | (48.5) |
|  Justsystems Corp. | (5700) | (141957) | (9.2) |
|  Kagome Co. Ltd. | (16800) | (410330) | (26.5) |
|  Kajima Corp. | (12800) | (157200) | (10.2) |
|  Kansai Electric Power Co., Inc. | (37400) | (359679) | (23.3) |
|  Kansai Paint Co. Ltd. | (2900) | (40841) | (2.6) |
|  Katitas Co. Ltd. | (900) | (22068) | (1.4) |
|  Kawasaki Heavy Industries Ltd. | (22100) | (505706) | (32.7) |
|  Keihan Holdings Co. Ltd. | (6800) | (182957) | (11.8) |
|  Keio Corp. | (400) | (14682) | (1.0) |
|  Keisei Electric Railway Co. Ltd. | (2600) | (75839) | (4.9) |
|  Keyence Corp. | (2000) | (920738) | (59.5) |
|  Kikkoman Corp. | (9000) | (476029) | (30.8) |
|  Kintetsu Group Holdings Co. Ltd. | (1100) | (35821) | (2.3) |
|  Kobayashi Pharmaceutical Co. Ltd. | (3100) | (222556) | (14.4) |
|  Kobe Steel Ltd. | (209000) | (1125994) | (72.8) |
|  Kotobuki Spirits Co. Ltd. | (7100) | (466355) | (30.2) |
|  Kurita Water Industries Ltd. | (12300) | (556184) | (36.0) |
|  Kyudenko Corp. | (14600) | (378426) | (24.5) |
|  Kyushu Electric Power Co., Inc. | (59800) | (344247) | (22.3) |
|  Kyushu Financial Group, Inc. | (84400) | (310212) | (20.1) |
|  Kyushu Railway Co. | (22100) | (495408) | (32.0) |
|  LaSalle Logiport REIT | (244) | (295631) | (19.1) |
|  Mabuchi Motor Co. Ltd. | (13100) | (375188) | (24.3) |
|  Makita Corp. | (3100) | (82574) | (5.3) |
|  Marubeni Corp. | (75100) | (921370) | (59.6) |
|  Marui Group Co. Ltd. | (15700) | (267536) | (17.3) |
|  Matsui Securities Co. Ltd. | (4500) | (26947) | (1.7) |
|  Mazda Motor Corp. | (13600) | (108256) | (7.0) |
|  Mebuki Financial Group, Inc. | (44100) | (114872) | (7.4) |
|  Menicon Co. Ltd. | (6600) | (145840) | (9.4) |
|  MINEBEA MITSUMI, Inc. | (13200) | (230112) | (14.9) |
|  Miraca Holdings, Inc. | (900) | (19103) | (1.2) |
|  Mitsubishi Corp. | (500) | (16743) | (1.1) |
|  Mitsui & Co. Ltd. | (25200) | (743469) | (48.1) |
|  Mitsui Fudosan Logistics Park, Inc. | (65) | (226854) | (14.7) |
|  Mitsui High-Tec, Inc. | (46800) | (2467880) | (159.6) |

---

29.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Miura Co. Ltd. | (20100) | $(502968) | (32.5)% |
|  Money Forward, Inc. | (9300) | (344876) | (22.3) |
|  MonotaRO Co. Ltd. | (17700) | (268126) | (17.3) |
|  Mori Hills REIT Investment Corp. | (541) | (614758) | (39.8) |
|  Morinaga & Co. Ltd. | (18700) | (554471) | (35.9) |
|  Nagase & Co. Ltd. | (4500) | (72618) | (4.7) |
|  Nextage Co. Ltd. | (9900) | (222682) | (14.4) |
|  NHK Spring Co. Ltd. | (105200) | (743612) | (48.1) |
|  Nifco, Inc. | (9100) | (236206) | (15.3) |
|  Nihon Kohden Corp. | (25800) | (677792) | (43.8) |
|  Nikon Corp. | (7100) | (70101) | (4.5) |
|  Nippon Accommodations Fund, Inc. | (50) | (224421) | (14.5) |
|  Nippon Building Fund, Inc. | (159) | (694888) | (44.9) |
|  Nippon Electric Glass Co. Ltd. | (38600) | (716817) | (46.4) |
|  Nippon Kayaku Co. Ltd. | (1600) | (14858) | (1.0) |
|  Nippon Paint Holdings Co. Ltd. | (15800) | (144246) | (9.3) |
|  Nippon Sanso Holdings Corp. | (18200) | (296858) | (19.2) |
|  Nippon Shokubai Co. Ltd. | (3600) | (152406) | (9.9) |
|  Nishi-Nippon Railroad Co. Ltd. | (19900) | (367504) | (23.8) |
|  Nisshin Seifun Group, Inc. | (50300) | (630032) | (40.7) |
|  Nitori Holdings Co. Ltd. | (2900) | (383832) | (24.8) |
|  Noevir Holdings Co. Ltd. | (5900) | (259806) | (16.8) |
|  NOF Corp. | (11500) | (489868) | (31.7) |
|  NOK Corp. | (33200) | (315311) | (20.4) |
|  Nomura Holdings, Inc. | (159300) | (635739) | (41.1) |
|  OKUMA Corp. | (4900) | (198612) | (12.8) |
|  Open House Co. Ltd. | (12600) | (476661) | (30.8) |
|  OSG Corp. | (7300) | (114573) | (7.4) |
|  Pan Pacific International Holdings Corp. | (18000) | (332876) | (21.5) |
|  Park24 Co. Ltd. | (45000) | (763233) | (49.4) |
|  PeptiDream, Inc. | (6500) | (101487) | (6.6) |
|  Persol Holdings Co. Ltd. | (5600) | (122783) | (7.9) |
|  Rakus Co. Ltd. | (8700) | (119230) | (7.7) |
|  Relo Group, Inc. | (14800) | (250807) | (16.2) |
|  Renesas Electronics Corp. | (121600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1250790) | (80.9) |
|  Rengo Co. Ltd. | (115900) | (818022) | (52.9) |
|  RENOVA, Inc. | (10200) | (177528) | (11.5) |
|  Resonac Holdings Corp. | (92300) | (1577461) | (102.0) |
|  Rinnai Corp. | (1300) | (102609) | (6.6) |
|  Rohto Pharmaceutical Co. Ltd. | (5600) | (103328) | (6.7) |
|  Sankyu, Inc. | (700) | (27504) | (1.8) |
|  Sanwa Holdings Corp. | (3700) | (39170) | (2.5) |
|  Seiko Epson Corp. | (11100) | (172139) | (11.1) |
|  Sekisui Chemical Co. Ltd. | (8300) | (116269) | (7.5) |
|  Sekisui House Ltd. | (9400) | (177653) | (11.5) |
|  Seven & i Holdings Co. Ltd. | (32400) | (1529698) | (98.9) |
|  SG Holdings Co. Ltd. | (10400) | (160486) | (10.4) |
|  Sharp Corp. | (27800) | (231075) | (14.9) |
|  SHIFT, Inc. | (100) | (18664) | (1.2) |
|  Shikoku Electric Power Co., Inc. | (4200) | (24283) | (1.6) |
|  Shimano, Inc. | (2600) | (463672) | (30.0) |
|  Shinko Electric Industries Co. Ltd. | (9500) | (267292) | (17.3) |
|  Shinsei Bank Ltd. | (21800) | (402086) | (26.0) |
|  Shionogi & Co. Ltd. | (2600) | (123902) | (8.0) |
|  Ship Healthcare Holdings, Inc. | (1500) | (29126) | (1.9) |
|  Shizuoka Financial Group, Inc. | (46600) | (394778) | (25.5) |
|  Shochiku Co. Ltd. | (1100) | (93788) | (6.1) |
|  Sojitz Corp. | (37000) | (733573) | (47.4) |
|  Sony Group Corp. | (54400) | (4860723) | (314.4) |
|  Sotetsu Holdings, Inc. | (21600) | (369270) | (23.9) |
|  Square Enix Holdings Co. Ltd. | (4100) | (193894) | (12.5) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Stanley Electric Co. Ltd. | (18100) | $(389535) | (25.2)% |
|  Sumitomo Chemical Co. Ltd. | (3600) | (13746) | (0.9) |
|  Suzuken Co. Ltd./Aichi Japan | (1200) | (31606) | (2.0) |
|  Suzuki Motor Corp. | (900) | (33458) | (2.2) |
|  Sysmex Corp. | (300) | (19916) | (1.3) |
|  Taiyo Yuden Co. Ltd. | (32200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1093690) | (70.7) |
|  Takara Holdings, Inc. | (31200) | (253535) | (16.4) |
|  Takashimaya Co. Ltd. | (27700) | (387005) | (25.0) |
|  Takeda Pharmaceutical Co. Ltd. | (30300) | (952552) | (61.6) |
|  TechnoPro Holdings, Inc. | (10300) | (320692) | (20.7) |
|  TIS, Inc. | (800) | (23068) | (1.5) |
|  Toho Gas Co. Ltd. | (12800) | (251030) | (16.2) |
|  Tohoku Electric Power Co., Inc. | (18500) | (99502) | (6.4) |
|  Tokai Carbon Co. Ltd. | (116800) | (1007709) | (65.2) |
|  Tokyo Electron Ltd. | (1500) | (524286) | (33.9) |
|  Tokyo Gas Co. Ltd. | (35100) | (734983) | (47.5) |
|  TOPPAN, Inc. | (12700) | (204625) | (13.2) |
|  Toshiba TEC Corp. | (1100) | (31302) | (2.0) |
|  Toyota Industries Corp. | (1400) | (85222) | (5.5) |
|  Toyota Motor Corp. | (195300) | (2868120) | (185.5) |
|  Toyota Tsusho Corp. | (11000) | (465764) | (30.1) |
|  United Urban Investment Corp. | (212) | (241235) | (15.6) |
|  Visional, Inc. | (1300) | (94196) | (6.1) |
|  West Japan Railway Co. | (9600) | (402034) | (26.0) |
|  Yamaha Corp. | (27400) | (1065423) | (68.9) |
|  Yamaha Motor Co. Ltd. | (2300) | (56651) | (3.7) |
|  Yamato Holdings Co. Ltd. | (8600) | (150474) | (9.7) |
|  Yokogawa Electric Corp. | (15700) | (275685) | (17.8) |
|  |  | (76691560) |  |
| **Jersey** |  |  |  |
|  Novocure Ltd. | (7854) | (716128) | (46.3) |
| **Luxembourg** |  |  |  |
|  APERAM SA | (1024) | (40210) | (2.6) |
|  Aroundtown SA | (180882) | (503612) | (32.6) |
|  Eurofins Scientific SE | (6013) | (431311) | (27.9) |
|  Tenaris SA | (56363) | (998795) | (64.6) |
|  |  | (1973928) |  |
| **Netherlands** |  |  |  |
|  Aegon NV | (11741) | (64761) | (4.2) |
|  Akzo Nobel NV | (469) | (34933) | (2.3) |
|  Euronext NV | (1835) | (148694) | (9.6) |
|  Heineken NV | (688) | (68468) | (4.4) |
|  IMCD NV | (1533) | (243029) | (15.7) |
|  Just Eat Takeaway.com NV | (30849) | (791387) | (51.2) |
|  Koninklijke Ahold Delhaize NV | (23608) | (704627) | (45.6) |
|  NXP Semiconductors NV | (206) | (37968) | (2.4) |
|  SBM Offshore NV | (19848) | (312031) | (20.2) |
|  Stellantis NV | (65984) | (1037334) | (67.1) |
|  Universal Music Group NV | (1027) | (26253) | (1.7) |
|  |  | (3469485) |  |
| **Norway** |  |  |  |
|  Adevinta ASA | (19128) | (163981) | (10.6) |
|  Aker ASA, A Shares | (804) | (58135) | (3.8) |
|  DNB Bank ASA | (27066) | (506122) | (32.7) |
|  Leroy Seafood Group ASA | (13408) | (78959) | (5.1) |
|  Mowi ASA | (1791) | (33118) | (2.1) |
|  Norsk Hydro ASA | (44370) | (359745) | (23.3) |
|  Orkla ASA | (102168) | (762757) | (49.3) |

---

S C H E D U L E O F I N V E S T M E N T S 30

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Norway (continued)** |  |  |  |
|  Salmar ASA | (16943) | $(787844) | (51.0)% |
|  Schibsted ASA, Class A | (11135) | (243176) | (15.7) |
|  Storebrand ASA | (16812) | (146358) | (9.5) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3140195) |  |
| **Singapore** |  |  |  |
|  Ascendas Real Estate Investment Trust | (208600) | (459051) | (29.7) |
|  Grab Holdings Ltd., Class A | (201012) | (761835) | (49.3) |
|  Kenon Holdings Ltd. | (5846) | (182183) | (11.8) |
|  Singapore Technologies Engineering Ltd. | (21300) | (59886) | (3.9) |
|  Singapore Telecommunications Ltd. | (50300) | (96098) | (6.2) |
|  United Overseas Bank Ltd. | (15100) | (343232) | (22.2) |
|  UOL Group Ltd. | (78100) | (416708) | (26.9) |
|  |  | (2318993) |  |
| **Spain** |  |  |  |
|  Acerinox SA | (24651) | (266969) | (17.3) |
|  Banco Santander SA | (29012) | (101395) | (6.6) |
|  Corp. ACCIONA Energias Renovables SA | (24899) | (1018222) | (65.9) |
|  Endesa SA | (16086) | (320702) | (20.7) |
|  Ferrovial SA | (993) | (29302) | (1.9) |
|  Grifols SA | (1299) | (17123) | (1.1) |
|  Naturgy Energy Group SA | (7549) | (214106) | (13.8) |
|  Red Electrica Corp. SA | (11997) | (212334) | (13.7) |
|  |  | (2180153) |  |
| **Sweden** |  |  |  |
|  Alleima AB | (8007) | (40040) | (2.6) |
|  Boliden AB | (7407) | (332404) | (21.5) |
|  Embracer Group AB, Class B | (19115) | (89097) | (5.8) |
|  Evolution AB | (2273) | (255465) | (16.5) |
|  Fastighets AB Balder, Class B | (124276) | (640300) | (41.4) |
|  Hexagon AB, B Shares | (42613) | (488494) | (31.6) |
|  Hexatronic Group AB | (15314) | (188492) | (12.2) |
|  Holmen AB | (501) | (20664) | (1.3) |
|  Husqvarna AB, B Shares | (14795) | (125874) | (8.1) |
|  Investment AB Latour, B Shares | (6810) | (143684) | (9.3) |
|  Investor AB, B Shares | (9886) | (191290) | (12.4) |
|  Kinnevik AB | (8260) | (127676) | (8.3) |
|  Lifco AB, B Shares | (4291) | (78827) | (5.1) |
|  Securitas AB, B Shares | (34870) | (319184) | (20.6) |
|  Skandinaviska Enskilda Banken AB, Class A | (64395) | (779554) | (50.4) |
|  Skanska AB, B Shares | (43863) | (774186) | (50.1) |
|  SSAB AB | (5912) | (42257) | (2.7) |
|  Svenska Cellulosa AB SCA, Class B | (36768) | (510573) | (33.0) |
|  Svenska Handelsbanken AB, A Shares | (70992) | (740306) | (47.9) |
|  Swedbank AB | (52917) | (1017933) | (65.8) |
|  Swedish Orphan Biovitrum AB | (15739) | (350989) | (22.7) |
|  Telia Co. AB | (84389) | (217946) | (14.1) |
|  |  | (7475235) |  |
| **Switzerland** |  |  |  |
|  Adecco Group AG, Registered Shares | (20275) | (753028) | (48.7) |
|  Alcon, Inc. | (5982) | (451393) | (29.2) |
|  Bachem Holding AG | (7541) | (666880) | (43.1) |
|  Baloise Holding AG, Registered Shares | (5678) | (933877) | (60.4) |
|  Barry Callebaut AG, Registered Shares | (506) | (1057202) | (68.4) |
|  Chubb Ltd. | (9342) | (2125212) | (137.4) |
|  CRISPR Therapeutics AG | (427) | (21785) | (1.4) |
|  Emmi AG, Registered Shares | (473) | (440669) | (28.5) |
|  EMS-Chemie Holding AG, Registered Shares | (1266) | (943778) | (61.0) |
|  Flughafen Zurich AG, Registered Shares | (80) | (14575) | (0.9) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Switzerland (continued)** |  |  |  |
|  Galenica AG | (4990) | $(390256) | (25.2)% |
|  Holcim AG | (1733) | (103607) | (6.7) |
|  Mediclinic International PLC | (17171) | (105059) | (6.8) |
|  Meyer Burger Technology AG | (1806775) | (1286134) | (83.2) |
|  On Holding AG, Class A | (4606) | (106859) | (6.9) |
|  Schindler Holding AG, Registered Shares | (2878) | (582187) | (37.7) |
|  SIG Group AG | (27368) | (678342) | (43.9) |
|  Sonova Holding AG, Registered Shares | (1441) | (360353) | (23.3) |
|  STMicroelectronics NV | (28952) | (1356895) | (87.8) |
|  Swiss Life Holding AG, Registered Shares | (1224) | (724421) | (46.8) |
|  Swisscom AG, Registered Shares | (6607) | (3903783) | (252.5) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17006295) |  |
| **Thailand** |  |  |  |
|  Fabrinet | (7318) | (963488) | (62.3) |
| **United Kingdom** |  |  |  |
|  3i Group PLC | (144116) | (2811664) | (181.8) |
|  Allfunds Group PLC | (47996) | (381806) | (24.7) |
|  Amcor PLC | (191536) | (2309924) | (149.4) |
|  Associated British Foods PLC | (6109) | (139784) | (9.0) |
|  BAE Systems PLC | (1473) | (15593) | (1.0) |
|  Barratt Developments PLC | (7882) | (44799) | (2.9) |
|  Berkeley Group Holdings PLC | (13919) | (712759) | (46.1) |
|  BP PLC | (57966) | (349349) | (22.6) |
|  Clarivate PLC | (213290) | (2371785) | (153.4) |
|  CNH Industrial NV | (37031) | (655129) | (42.4) |
|  Coca-Cola Europacific Partners PLC | (3814) | (214423) | (13.9) |
|  Dechra Pharmaceuticals PLC | (12032) | (426729) | (27.6) |
|  Farfetch Ltd., Class A | (90672) | (618383) | (40.0) |
|  Ferguson PLC | (4630) | (652344) | (42.2) |
|  Future PLC | (34917) | (650182) | (42.0) |
|  Games Workshop Group PLC | (1403) | (162738) | (10.5) |
|  GSK PLC | (37795) | (663241) | (42.9) |
|  Harbour Energy PLC | (136752) | (528930) | (34.2) |
|  Inchcape PLC | (18948) | (213634) | (13.8) |
|  Informa PLC | (228625) | (1890900) | (122.3) |
|  InterContinental Hotels Group PLC | (402) | (27908) | (1.8) |
|  International Distributions Services PLC | (124280) | (351774) | (22.8) |
|  JD Sports Fashion PLC | (301776) | (608266) | (39.3) |
|  Lloyds Banking Group PLC | (226952) | (147699) | (9.6) |
|  LXI REIT PLC | (274747) | (382430) | (24.7) |
|  Marks & Spencer Group PLC | (44125) | (79315) | (5.1) |
|  Mondi PLC | (8363) | (157708) | (10.2) |
|  National Grid PLC | (11568) | (147063) | (9.5) |
|  Next PLC | (5719) | (468238) | (30.3) |
|  Noble Corp. PLC | (7202) | (293049) | (19.0) |
|  nVent Electric PLC | (62044) | (2466249) | (159.5) |
|  Ocado Group PLC | (17281) | (138289) | (8.9) |
|  Pentair PLC | (4950) | (274131) | (17.7) |
|  Rightmove PLC | (23297) | (169273) | (10.9) |
|  RS GROUP PLC | (22455) | (261058) | (16.9) |
|  Tate & Lyle PLC | (42871) | (399217) | (25.8) |
|  Taylor Wimpey PLC | (300544) | (436066) | (28.2) |
|  Vistry Group PLC | (50528) | (463775) | (30.0) |
|  Vodafone Group PLC | (316969) | (365723) | (23.7) |
|  Watches of Switzerland Group PLC | (18780) | (220461) | (14.3) |
|  Whitbread PLC | (15734) | (592577) | (38.3) |
|  Wise PLC, Class A | (21844) | (146434) | (9.5) |
|  |  | (24410799) |  |

---

31.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States** |  |  |  |
|  Academy Sports & Outdoors, Inc. | (6218) | $(363256) | (23.5)% |
|  Adient PLC | (15621) | (703257) | (45.5) |
|  ADT, Inc. | (258630) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2273358) | (147.0) |
|  Affiliated Managers Group, Inc. | (1340) | (231472) | (15.0) |
|  Affirm Holdings, Inc. | (18948) | (306768) | (19.8) |
|  Aflac, Inc. | (1506) | (110691) | (7.2) |
|  AGCO Corp. | (5410) | (747283) | (48.3) |
|  agilon health, Inc. | (70485) | (1533754) | (99.2) |
|  Agree Realty Corp. | (202) | (15075) | (1.0) |
|  Alaska Air Group, Inc. | (3273) | (168036) | (10.9) |
|  Albemarle Corp. | (230) | (64734) | (4.2) |
|  Albertsons Cos., Inc., Class A | (41164) | (872677) | (56.4) |
|  Alexandria Real Estate Equities, Inc. | (3050) | (490257) | (31.7) |
|  Alight, Inc., Class A | (100827) | (946766) | (61.2) |
|  Allegheny Technologies, Inc. | (1941) | (70633) | (4.6) |
|  Altria Group, Inc. | (24259) | (1092625) | (70.7) |
|  Ameren Corp. | (1010) | (87739) | (5.7) |
|  American Airlines Group, Inc. | (21286) | (343556) | (22.2) |
|  American Electric Power Co., Inc. | (606) | (56940) | (3.7) |
|  American Equity Investment Life Holding Co. | (21110) | (1005891) | (65.1) |
|  American Tower Corp. | (668) | (149225) | (9.6) |
|  Ameriprise Financial, Inc. | (68) | (23808) | (1.5) |
|  Amkor Technology, Inc. | (26954) | (788674) | (51.0) |
|  AMN Healthcare Services, Inc. | (3566) | (341765) | (22.1) |
|  Antero Midstream Corp. | (9168) | (99931) | (6.5) |
|  Apartment Income REIT Corp. | (1612) | (61675) | (4.0) |
|  Apollo Global Management, Inc. | (3257) | (230530) | (14.9) |
|  Apple Hospitality REIT, Inc. | (27837) | (493550) | (31.9) |
|  AptarGroup, Inc. | (4643) | (536917) | (34.7) |
|  Aramark | (8743) | (389326) | (25.2) |
|  Arista Networks, Inc. | (4834) | (609181) | (39.4) |
|  Assurant, Inc. | (2348) | (311321) | (20.1) |
|  Atkore, Inc. | (9365) | (1219791) | (78.9) |
|  Atmos Energy Corp. | (4910) | (577121) | (37.3) |
|  Avangrid, Inc. | (9087) | (383199) | (24.8) |
|  Axalta Coating Systems Ltd. | (2655) | (79915) | (5.2) |
|  Axon Enterprise, Inc. | (3369) | (658437) | (42.6) |
|  Ball Corp. | (4760) | (277222) | (17.9) |
|  Bio-Techne Corp. | (430) | (34254) | (2.2) |
|  BJ's Wholesale Club Holdings, Inc. | (8160) | (591355) | (38.2) |
|  Blackstone Mortgage Trust, Inc., Class A | (55687) | (1327578) | (85.9) |
|  Bloom Energy Corp., Class A | (3436) | (85659) | (5.5) |
|  Blue Owl Capital, Inc., Class A | (24416) | (307153) | (19.9) |
|  Booking Holdings, Inc. | (209) | (508727) | (32.9) |
|  Bunge Ltd. | (2047) | (202858) | (13.1) |
|  Cactus, Inc., Class A | (9997) | (540938) | (35.0) |
|  Caesars Entertainment, Inc. | (10841) | (564382) | (36.5) |
|  Callaway Golf Co. | (16723) | (409546) | (26.5) |
|  Campbell Soup Co. | (1004) | (52138) | (3.4) |
|  CDW Corp. | (1338) | (262288) | (17.0) |
|  Celsius Holdings, Inc. | (979) | (98213) | (6.3) |
|  CenterPoint Energy, Inc. | (35985) | (1083868) | (70.1) |
|  Ceridian HCM Holding, Inc. | (8839) | (638883) | (41.3) |
|  ChampionX Corp. | (23165) | (764908) | (49.5) |
|  Charter Communications, Inc., Class A | (101) | (38815) | (2.5) |
|  Chord Energy Corp. | (905) | (129714) | (8.4) |
|  Citizens Financial Group, Inc. | (14321) | (620386) | (40.1) |
|  Civitas Resources, Inc. | (4916) | (327160) | (21.2) |
|  Clean Harbors, Inc. | (673) | (87692) | (5.7) |
|  Clear Secure, Inc., Class A | (47356) | (1486505) | (96.1) |
|  Cloudflare, Inc., Class A | (797) | (42169) | (2.7) |
|  Coherent Corp. | (19690) | (854546) | (55.3) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Commerce Bancshares, Inc. | (6568) | $(437166) | (28.3)% |
|  Conagra Brands, Inc. | (592) | (22016) | (1.4) |
|  Confluent, Inc., Class A | (29285) | (676483) | (43.7) |
|  Copart, Inc. | (3882) | (258580) | (16.7) |
|  Corning, Inc. | (10563) | (365585) | (23.6) |
|  Coty, Inc., Class A | (171792) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1711048) | (110.7) |
|  Crane Holdings Co. | (313) | (36280) | (2.3) |
|  Crowdstrike Holdings, Inc., Class A | (2152) | (227897) | (14.7) |
|  Crown Castle, Inc. | (1854) | (274596) | (17.8) |
|  CubeSmart | (10933) | (500622) | (32.4) |
|  Cullen/Frost Bankers, Inc. | (6762) | (880953) | (57.0) |
|  Datadog, Inc., Class A | (424) | (31719) | (2.0) |
|  Deere & Co. | (71) | (30022) | (1.9) |
|  Denbury, Inc. | (1839) | (159588) | (10.3) |
|  Diodes, Inc. | (5688) | (507313) | (32.8) |
|  Discover Financial Services | (1510) | (176262) | (11.4) |
|  DoorDash, Inc., Class A | (9189) | (532227) | (34.4) |
|  Dow, Inc. | (22472) | (1333713) | (86.3) |
|  DraftKings, Inc., Class A | (894) | (13401) | (0.9) |
|  DTE Energy Co. | (3172) | (369126) | (23.9) |
|  DTE Midstream LLC | (21227) | (1160268) | (75.0) |
|  Duke Energy Corp. | (12525) | (1283186) | (83.0) |
|  Duolingo, Inc. | (16124) | (1539681) | (99.6) |
|  East West Bancorp, Inc. | (614) | (48211) | (3.1) |
|  EastGroup Properties, Inc. | (786) | (132244) | (8.6) |
|  Elanco Animal Health, Inc. | (19881) | (272966) | (17.7) |
|  Elastic NV | (4017) | (236360) | (15.3) |
|  EMCOR Group, Inc. | (6443) | (955175) | (61.8) |
|  Endeavor Group Holdings, Inc., Class A | (13598) | (305003) | (19.7) |
|  Ensign Group, Inc. | (2345) | (218671) | (14.1) |
|  Equitable Holdings, Inc. | (52543) | (1685054) | (109.0) |
|  Erie Indemnity Co., Class A | (218) | (53268) | (3.4) |
|  Estee Lauder Cos., Inc., Class A | (1989) | (551112) | (35.6) |
|  Euronet Worldwide, Inc. | (1663) | (187387) | (12.1) |
|  Exelon Corp. | (35049) | (1478717) | (95.6) |
|  Expeditors International of Washington, Inc. | (6273) | (678425) | (43.9) |
|  Fastenal Co. | (1378) | (69658) | (4.5) |
|  Federal Realty Investment Trust | (2090) | (233098) | (15.1) |
|  First Citizens BancShares, Inc., Class A | (264) | (205308) | (13.3) |
|  First Republic Bank | (10334) | (1455854) | (94.2) |
|  FirstEnergy Corp. | (7478) | (306224) | (19.8) |
|  Five Below, Inc. | (1420) | (279925) | (18.1) |
|  FleetCor Technologies, Inc. | (861) | (179785) | (11.6) |
|  Fluence Energy, Inc. | (21097) | (509282) | (32.9) |
|  FMC Corp. | (10626) | (1414639) | (91.5) |
|  FNB Corp. | (189152) | (2699199) | (174.6) |
|  Fortune Brands Home & Security, Inc. | (1674) | (107990) | (7.0) |
|  Fox Factory Holding Corp. | (33) | (3897) | (0.2) |
|  Frontier Communications Parent, Inc. | (14267) | (422446) | (27.3) |
|  Gaming and Leisure Properties, Inc. | (3061) | (163947) | (10.6) |
|  GE Healthcare, Inc. | (21840) | (1518317) | (98.2) |
|  Genuine Parts Co. | (1120) | (187958) | (12.2) |
|  Graphic Packaging Holding Co. | (38975) | (938908) | (60.7) |
|  GXO Logistics, Inc. | (5738) | (300270) | (19.4) |
|  Haemonetics Corp. | (2705) | (228843) | (14.8) |
|  Hancock Whitney Corp. | (6314) | (325045) | (21.0) |
|  Harley-Davidson, Inc. | (16428) | (756181) | (48.9) |
|  HashiCorp, Inc., Class A | (53649) | (1726425) | (111.7) |
|  Healthpeak Properties, Inc. | (59712) | (1640886) | (106.1) |
|  Hershey Co. | (697) | (156546) | (10.1) |
|  Hertz Global Holdings, Inc. | (63950) | (1152379) | (74.5) |
|  Hess Corp. | (1872) | (281100) | (18.2) |

---

S C H E D U L E O F I N V E S T M E N T S 32

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Hilton Grand Vacations, Inc. | (4211) | $(199433) | (12.9)% |
|  Home BancShares, Inc. | (41011) | (978933) | (63.3) |
|  Houlihan Lokey, Inc., Class A | (5098) | (505059) | (32.7) |
|  Howmet Aerospace Inc. | (2049) | (83374) | (5.4) |
|  Hubbell, Inc., Class B | (7691) | (1760547) | (113.9) |
|  Humana, Inc. | (674) | (344886) | (22.3) |
|  Huntington Bancshares, Inc. | (68688) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1041997) | (67.4) |
|  Hyatt Hotels Corp., Class A | (4338) | (473363) | (30.6) |
|  IAA, Inc. | (37) | (2091) | (0.1) |
|  IDEX Corp. | (1206) | (289054) | (18.7) |
|  Ingersoll Rand, Inc. | (12827) | (718312) | (46.5) |
|  Ingredion, Inc. | (496) | (50989) | (3.3) |
|  Inspire Medical Systems, Inc. | (1242) | (314301) | (20.3) |
|  Interactive Brokers Group, Inc., Class A | (10860) | (868148) | (56.1) |
|  International Game Technology PLC | (1270) | (33592) | (2.2) |
|  Interpublic Group of Cos., Inc. | (6128) | (223427) | (14.4) |
|  Intra-Cellular Therapies, Inc. | (4340) | (207973) | (13.4) |
|  Invitation Homes, Inc. | (1712) | (55640) | (3.6) |
|  iRhythm Technologies, Inc. | (7709) | (757795) | (49.0) |
|  JPMorgan Chase & Co. | (553) | (77398) | (5.0) |
|  Karuna Therapeutics, Inc. | (554) | (110462) | (7.1) |
|  Keurig Dr Pepper, Inc. | (78429) | (2766975) | (178.9) |
|  Kinsale Capital Group, Inc. | (1165) | (324383) | (21.0) |
|  KLA Corp. | (1039) | (407787) | (26.4) |
|  Kraft Heinz Co. | (19471) | (789160) | (51.0) |
|  Lamb Weston Holdings, Inc. | (281) | (28069) | (1.8) |
|  Lancaster Colony Corp. | (3636) | (697785) | (45.1) |
|  Leggett & Platt, Inc. | (16618) | (607554) | (39.3) |
|  Levi Strauss & Co., Class A | (31586) | (581182) | (37.6) |
|  Liberty Media Corp.-Liberty Formula One, Class C | (2710) | (191868) | (12.4) |
|  Life Storage, Inc. | (221) | (23877) | (1.5) |
|  Lincoln Electric Holdings, Inc. | (4044) | (674822) | (43.6) |
|  Lithia Motors, Inc., Class A | (882) | (232142) | (15.0) |
|  Littelfuse, Inc. | (239) | (61349) | (4.0) |
|  Live Nation Entertainment, Inc. | (7303) | (587818) | (38.0) |
|  Loews Corp. | (9093) | (559038) | (36.2) |
|  Madison Square Garden Sports Corp. | (12389) | (2252816) | (145.7) |
|  Maravai LifeSciences Holdings, Inc., Class A | (1794) | (26300) | (1.7) |
|  Markel Corp. | (175) | (246571) | (15.9) |
|  Marqeta, Inc., Class A | (74) | (491) | (0.0) |
|  Marvell Technology, Inc. | (6615) | (285437) | (18.5) |
|  McDonald's Corp. | (2416) | (646038) | (41.8) |
|  Medpace Holdings, Inc. | (7656) | (1692512) | (109.5) |
|  Merck & Co., Inc. | (1466) | (157463) | (10.2) |
|  Microchip Technology, Inc. | (6011) | (466574) | (30.2) |
|  Mid-America Apartment Communities, Inc. | (3639) | (606694) | (39.2) |
|  MKS Instruments, Inc. | (7731) | (791036) | (51.2) |
|  Molina Healthcare, Inc. | (1545) | (481777) | (31.2) |
|  MongoDB, Inc., Class A | (2581) | (552876) | (35.8) |
|  Monolithic Power Systems, Inc. | (125) | (53320) | (3.4) |
|  MSC Industrial Direct Co., Inc., Class A | (400) | (33080) | (2.1) |
|  Murphy Oil Corp. | (2193) | (95637) | (6.2) |
|  Murphy USA, Inc. | (169) | (45973) | (3.0) |
|  National Retail Properties, Inc. | (4544) | (215158) | (13.9) |
|  nCino, Inc. | (11858) | (339139) | (21.9) |
|  Neogen Corp. | (13612) | (291433) | (18.8) |
|  Netflix, Inc. | (3096) | (1095551) | (70.9) |
|  New Jersey Resources Corp. | (14694) | (733524) | (47.4) |
|  New Residential Investment Corp. | (66044) | (621474) | (40.2) |
|  Newell Brands, Inc. | (41937) | (669315) | (43.3) |
|  NextEra Energy, Inc. | (3199) | (238741) | (15.4) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  NIKE, Inc., Class B | (3376) | $(429866) | (27.8)% |
|  Norwegian Cruise Line Holdings Ltd. | (3215) | (48900) | (3.2) |
|  Novanta, Inc. | (879) | (141932) | (9.2) |
|  Oak Street Health, Inc. | (6140) | (178428) | (11.5) |
|  OGE Energy Corp. | (29355) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1154239) | (74.6) |
|  Old National Bancorp | (60430) | (1057525) | (68.4) |
|  Old Republic International Corp. | (6037) | (159316) | (10.3) |
|  Omnicom Group, Inc. | (227) | (19520) | (1.3) |
|  ON Semiconductor Corp. | (2145) | (157550) | (10.2) |
|  ONEOK, Inc. | (2547) | (174419) | (11.3) |
|  Onto Innovation, Inc. | (3335) | (262298) | (17.0) |
|  Option Care Health, Inc. | (2453) | (70818) | (4.6) |
|  Organon & Co. | (23477) | (707362) | (45.7) |
|  PACCAR, Inc. | (14539) | (1589258) | (102.8) |
|  Paychex, Inc. | (2237) | (259179) | (16.8) |
|  Paylocity Holding Corp. | (203) | (42283) | (2.7) |
|  Peloton Interactive, Inc., Class A | (19472) | (251773) | (16.3) |
|  Performance Food Group Co. | (3314) | (203214) | (13.1) |
|  Permian Resources Corp., Class A | (29643) | (322219) | (20.8) |
|  Philip Morris International, Inc. | (5953) | (620541) | (40.1) |
|  Phillips 66 | (783) | (78511) | (5.1) |
|  Pilgrim's Pride Corp. | (25089) | (609161) | (39.4) |
|  Plug Power, Inc. | (32769) | (557728) | (36.1) |
|  Principal Financial Group, Inc. | (3808) | (352430) | (22.8) |
|  Privia Health Group, Inc. | (25710) | (695198) | (45.0) |
|  Procore Technologies, Inc. | (5945) | (332623) | (21.5) |
|  Progyny, Inc. | (17838) | (613449) | (39.7) |
|  Prometheus Biosciences, Inc. | (777) | (88314) | (5.7) |
|  PTC, Inc. | (3992) | (538441) | (34.8) |
|  Public Storage | (954) | (290340) | (18.8) |
|  QUALCOMM, Inc. | (3273) | (435996) | (28.2) |
|  Qualtrics International, Inc., Class A | (12146) | (191542) | (12.4) |
|  Quanta Services, Inc. | (92) | (14001) | (0.9) |
|  Quest Diagnostics, Inc. | (849) | (126060) | (8.2) |
|  R1 RCM, Inc. | (2531) | (36219) | (2.3) |
|  Rambus, Inc. | (4323) | (174952) | (11.3) |
|  Raymond James Financial, Inc. | (505) | (56949) | (3.7) |
|  RBC Bearings, Inc. | (832) | (202983) | (13.1) |
|  Realty Income Corp. | (12319) | (835598) | (54.0) |
|  Regal Beloit Corp., Registered Shares | (1830) | (254736) | (16.5) |
|  Regency Centers Corp., Registered Shares | (7141) | (475805) | (30.8) |
|  Regions Financial Corp., Registered Shares | (22056) | (519198) | (33.6) |
|  Rexford Industrial Realty, Inc. | (1955) | (124084) | (8.0) |
|  RH | (526) | (164107) | (10.6) |
|  Rivian Automotive, Inc., Class A | (69725) | (1352665) | (87.5) |
|  Robinhood Markets, Inc., Class A | (82497) | (858794) | (55.5) |
|  Roku, Inc. | (1144) | (65780) | (4.3) |
|  Ryan Specialty Holdings, Inc. | (5410) | (230574) | (14.9) |
|  Ryman Hospitality Properties, Inc. | (4234) | (393296) | (25.4) |
|  Science Applications International Corp. | (8344) | (865940) | (56.0) |
|  Sealed Air Corp. | (7368) | (403472) | (26.1) |
|  Selective Insurance Group, Inc. | (7241) | (687895) | (44.5) |
|  SentinelOne, Inc., Class A | (24673) | (372316) | (24.1) |
|  Shift4 Payments, Inc., Class A | (1315) | (84213) | (5.4) |
|  Shoals Technologies Group, Inc., Class A | (2625) | (73211) | (4.7) |
|  Silgan Holdings, Inc. | (17882) | (963661) | (62.3) |
|  Skechers U.S.A., Inc., Class A | (4999) | (240702) | (15.6) |
|  Skyworks Solutions, Inc. | (5959) | (653524) | (42.3) |
|  SLM Corp. | (27429) | (481928) | (31.2) |
|  Smartsheet, Inc., Class A | (4299) | (185760) | (12.0) |
|  South State Corp. | (18874) | (1502370) | (97.2) |
|  Southern Co. | (19671) | (1331333) | (86.1) |

---

33.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Splunk, Inc. | (604) | $(57845) | (3.7)% |
|  SS&C Technologies Holdings, Inc. | (3234) | (195172) | (12.6) |
|  STAG Industrial, Inc. | (2484) | (88430) | (5.7) |
|  Starwood Property Trust, Inc. | (3842) | (80259) | (5.2) |
|  State Street Corp. | (204) | (18631) | (1.2) |
|  SunPower Corp. | (3358) | (58530) | (3.8) |
|  Texas Roadhouse, Inc., Class A | (1374) | (137991) | (8.9) |
|  Toast, Inc., Class A | (47049) | (1049663) | (67.9) |
|  Trade Desk, Inc., Class A | (8914) | (451940) | (29.2) |
|  Tradeweb Markets, Inc., Class A | (5091) | (379483) | (24.5) |
|  TransUnion | (1954) | (140199) | (9.1) |
|  TripAdvisor, Inc. | (24733) | (576279) | (37.3) |
|  Truist Financial Corp. | (11696) | (577665) | (37.4) |
|  Twilio, Inc., Class A | (1596) | (95505) | (6.2) |
|  Uber Technologies, Inc. | (15601) | (482539) | (31.2) |
|  U-Haul Holding Co. | (765) | (47269) | (3.1) |
|  UiPath, Inc., Class A | (52002) | (798751) | (51.7) |
|  Ulta Salon Cosmetics & Fragrance, Inc. | (56) | (28782) | (1.9) |
|  Universal Health Services, Inc., Class B | (1772) | (262628) | (17.0) |
|  Valaris Ltd. | (11349) | (824391) | (53.3) |
|  Valley National Bancorp | (255170) | (3031420) | (196.1) |
|  Valvoline, Inc. | (15154) | (555546) | (35.9) |
|  Vertiv Holdings Co., Class A | (54570) | (775985) | (50.2) |
|  Vir Biotechnology, Inc. | (8173) | (241512) | (15.6) |
|  Vontier Corp. | (49866) | (1148414) | (74.3) |
|  Walt Disney Co. | (26469) | (2871622) | (185.7) |
|  Waste Connections, Inc. | (3521) | (467941) | (30.3) |
|  Welltower, Inc. | (7310) | (548542) | (35.5) |
|  Western Union Co. | (131548) | (1864035) | (120.6) |
|  WillScot Mobile Mini Holdings Corp. | (4393) | (212885) | (13.8) |
|  Wingstop, Inc. | (5496) | (870951) | (56.3) |
|  Wolfspeed, Inc. | (3561) | (274233) | (17.7) |
|  Workiva, Inc., Class A | (386) | (33401) | (2.2) |
|  WW Grainger, Inc. | (272) | (160339) | (10.4) |
|  Xcel Energy, Inc. | (5436) | (373834) | (24.2) |
|  Zebra Technologies Corp., Class A | (746) | (235870) | (15.3) |
|  Zoom Video Communications, Inc., Class A | (1202) | (90150) | (5.8) |
|  ZoomInfo Technologies, Inc., Class A | (4574) | (129124) | (8.3) |
|  Zscaler, Inc. | (1285) | (159546) | (10.3) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;(143403840) |  |
| **Uruguay** |  |  |  |
|  Globant SA | (1009) | (163640) | (10.6) |
| **Preferred Stocks** |  |  |  |
| **Germany** |  |  |  |
|  Henkel AG & Co. KGaA | (3439) | (245202) | (15.8) |
|  Volkswagen AG | (2161) | (299710) | (19.4) |
|  |  | (544912) |  |
|  **Total Reference Entity — Short** |  | (346570445) |  |
|  **Net Value of Reference Entity — Bank of America N.A**. | **Net Value of Reference Entity — Bank of America N.A**. | $1546231 |  |

---

The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with BNP Paribas SA as of period end, termination dates on January 08, 2024 and December 16, 2025:

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Reference Entity — Long** |  |  |  |
| **Common Stocks** |  |  |  |
| **Australia** |  |  |  |
|  AGL Energy Ltd. | 146166 | $792698 | 70.6% |
|  Allkem Ltd. | 93932 | 872059 | 77.7 |
|  AMP Ltd. | 104193 | 98838 | 8.8 |
|  ANZ Group Holdings Ltd. | 7145 | 127155 | 11.3 |
|  Aristocrat Leisure Ltd. | 19307 | 466133 | 41.5 |
|  ASX Ltd. | 2360 | 115487 | 10.3 |
|  Aurizon Holdings Ltd. | 287423 | 751255 | 66.9 |
|  Bank of Queensland Ltd. | 19490 | 96375 | 8.6 |
|  BHP Group Ltd. | 4661 | 163238 | 14.5 |
|  Boral Ltd. | 60126 | 146906 | 13.1 |
|  Challenger Ltd. | 100387 | 514660 | 45.8 |
|  Charter Hall Group | 22531 | 221853 | 19.8 |
|  Coles Group Ltd. | 2129 | 26778 | 2.4 |
|  Commonwealth Bank of Australia | 19606 | 1530485 | 136.3 |
|  Computershare Ltd. | 4675 | 78736 | 7.0 |
|  CSR Ltd. | 84494 | 316218 | 28.2 |
|  Deterra Royalties Ltd. | 32131 | 111479 | 9.9 |
|  Domain Holdings Australia Ltd. | 78226 | 178969 | 15.9 |
|  Downer EDI Ltd. | 315906 | 845382 | 75.3 |
|  Flight Centre Travel Group Ltd. | 67110 | 810680 | 72.2 |
|  GPT Group | 80912 | 262279 | 23.4 |
|  IDP Education Ltd. | 9262 | 206111 | 18.4 |
|  Iluka Resources Ltd. | 51607 | 397099 | 35.4 |
|  Insignia Financial Ltd. | 40401 | 100297 | 8.9 |
|  Medibank Private Ltd. | 282532 | 588594 | 52.4 |
|  Mineral Resources Ltd. | 6048 | 382899 | 34.1 |
|  Mirvac Group | 22578 | 36477 | 3.2 |
|  Origin Energy Ltd. | 37354 | 198334 | 17.7 |
|  Orora Ltd. | 103770 | 219570 | 19.5 |
|  OZ Minerals Ltd. | 26535 | 525575 | 46.8 |
|  Perpetual Ltd. | 17610 | 319037 | 28.4 |
|  Pilbara Minerals Ltd. | 73087 | 248636 | 22.1 |
|  Pro Medicus Ltd. | 8827 | 421566 | 37.5 |
|  Qantas Airways Ltd. | 33217 | 149936 | 13.3 |
|  QBE Insurance Group Ltd. | 2365 | 23075 | 2.1 |
|  REA Group Ltd. | 1209 | 108413 | 9.7 |
|  Region RE Ltd., Registered Shares | 60678 | 116435 | 10.4 |
|  SEEK Ltd. | 14978 | 259403 | 23.1 |
|  Star Entertainment Group Ltd. | 14059 | 19400 | 1.7 |
|  Steadfast Group Ltd. | 81141 | 301454 | 26.8 |
|  Suncorp Group Ltd. | 9379 | 83373 | 7.4 |
|  Treasury Wine Estates Ltd. | 56144 | 578327 | 51.5 |
|  Westpac Banking Corp. | 43591 | 733456 | 65.3 |
|  WiseTech Global Ltd. | 7705 | 334085 | 29.7 |
|  Worley Ltd. | 44868 | 492546 | 43.9 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15371761 |  |

---

S C H E D U L E O F I N V E S T M E N T S 34

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Austria** | **Austria** | **Austria** | **Austria** |
|  ANDRITZ AG | 7028 | $420285 | 37.4% |
|  Raiffeisen Bank International AG | 60647 | 1091171 | 97.2 |
|  |  | 1511456 |  |
| **Belgium** |  |  |  |
|  Ackermans & van Haaren NV | 1442 | 249545 | 22.2 |
|  Ageas SA/NV | 1915 | 93494 | 8.3 |
|  Anheuser-Busch InBev SA | 19380 | 1169810 | 104.2 |
|  Etablissements Franz Colruyt NV | 11323 | 299423 | 26.7 |
|  Euronav NV | 48056 | 756401 | 67.3 |
|  Sofina SA | 1532 | 363961 | 32.4 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932634 |  |
| **Bermuda** |  |  |  |
|  Hiscox Ltd. | 96464 | 1342601 | 119.5 |
| **Canada** |  |  |  |
|  AbCellera Biologics, Inc. | 2972 | 31295 | 2.8 |
|  Alamos Gold, Inc., Class A | 53621 | 591602 | 52.7 |
|  Algonquin Power & Utilities Corp. | 53433 | 389538 | 34.7 |
|  ARC Resources Ltd. | 8493 | 98682 | 8.8 |
|  Aritzia, Inc. | 4556 | 164325 | 14.6 |
|  Ballard Power Systems, Inc. | 219374 | 1436058 | 127.9 |
|  Bank of Nova Scotia | 22499 | 1217995 | 108.5 |
|  Baytex Energy Corp. | 32998 | 152770 | 13.6 |
|  BCE, Inc. | 560 | 26473 | 2.4 |
|  Birchcliff Energy Ltd. | 5821 | 37318 | 3.3 |
|  Bombardier, Inc., Class B | 1601 | 77334 | 6.9 |
|  Boralex Inc., Class A | 7293 | 204065 | 18.2 |
|  Canada Goose Holdings, Inc. | 649 | 15699 | 1.4 |
|  Canadian Imperial Bank of Commerce | 18493 | 844211 | 75.2 |
|  CGI, Inc. | 408 | 34969 | 3.1 |
|  Element Fleet Management Corp. | 53859 | 761001 | 67.8 |
|  Emera, Inc. | 34697 | 1381569 | 123.0 |
|  Enerplus Corp. | 57285 | 1016496 | 90.5 |
|  First Majestic Silver Corp. | 45527 | 359617 | 32.0 |
|  First Quantum Minerals Ltd. | 6050 | 140366 | 12.5 |
|  FirstService Corp. | 1420 | 202933 | 18.1 |
|  Franco-Nevada Corp. | 981 | 143897 | 12.8 |
|  GFL Environmental, Inc. | 14066 | 434069 | 38.7 |
|  Gildan Activewear, Inc. | 16931 | 530879 | 47.3 |
|  Imperial Oil Ltd. | 8168 | 446415 | 39.7 |
|  Ivanhoe Mines Ltd., Class A | 26161 | 245772 | 21.9 |
|  Kinaxis, Inc. | 3691 | 429005 | 38.2 |
|  Lithium Americas Corp. | 28973 | 728598 | 64.9 |
|  Lululemon Athletica, Inc. | 850 | 260848 | 23.2 |
|  Lundin Mining Corp. | 17282 | 130795 | 11.6 |
|  MEG Energy Corp. | 22796 | 376749 | 33.5 |
|  Methanex Corp. | 15783 | 747070 | 66.5 |
|  National Bank of Canada | 5748 | 431786 | 38.4 |
|  Northland Power, Inc. | 946 | 25411 | 2.3 |
|  NuVista Energy Ltd. | 11562 | 96889 | 8.6 |
|  Pan American Silver Corp. | 5023 | 91547 | 8.2 |
|  Parex Resources, Inc. | 18919 | 322059 | 28.7 |
|  RioCan Real Estate Investment Trust | 3938 | 68309 | 6.1 |
|  Stantec, Inc. | 13057 | 680646 | 60.6 |
|  Stelco Holdings, Inc. | 788 | 30660 | 2.7 |
|  Suncor Energy, Inc. | 12201 | 423466 | 37.7 |
|  TC Energy Corp. | 40938 | 1763914 | 157.1 |
|  Teck Resources Ltd., Class B | 5926 | 256361 | 22.8 |
|  TELUS Corp. | 51669 | 1113337 | 99.1 |
|  TMX Group Ltd. | 894 | 88113 | 7.8 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
|  Toronto-Dominion Bank | 408 | $28229 | 2.5% |
|  Tourmaline Oil Corp. | 8173 | 380901 | 33.9 |
|  TransAlta Corp. | 2207 | 21431 | 1.9 |
|  Vermilion Energy, Inc. | 6057 | 92866 | 8.3 |
|  West Fraser Timber Co. Ltd. | 634 | 55126 | 4.9 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19629464 |  |
| **Denmark** |  |  |  |
|  AP Moller - Maersk A/S, Class A | 13 | 27702 | 2.5 |
|  Carlsberg A/S, Class B | 12212 | 1733635 | 154.4 |
|  Coloplast A/S, Class B | 931 | 112404 | 10.0 |
|  D/S Norden A/S | 2799 | 150881 | 13.4 |
|  Genmab A/S | 209 | 81906 | 7.3 |
|  H Lundbeck A/S | 64431 | 239414 | 21.3 |
|  Jyske Bank AS, Registered Shares | 1450 | 104579 | 9.3 |
|  Novozymes A/S | 14916 | 776177 | 69.1 |
|  ROCKWOOL A/S, B Shares | 1189 | 340901 | 30.4 |
|  Royal Unibrew A/S | 1702 | 119518 | 10.6 |
|  SimCorp A/S | 3601 | 252178 | 22.5 |
|  |  | 3939295 |  |
| **Finland** |  |  |  |
|  Kone OYJ, Class B | 2177 | 118725 | 10.6 |
|  Metso Outotec OYJ | 22388 | 257302 | 22.9 |
|  Nokia OYJ | 89906 | 426291 | 37.9 |
|  Wartsila OYJ Abp | 174499 | 1659661 | 147.8 |
|  |  | 2461979 |  |
| **Germany** |  |  |  |
|  1&1 AG | 12812 | 178836 | 15.9 |
|  Adidas AG | 3403 | 547938 | 48.8 |
|  Allianz SE, Registered Shares | 1724 | 412232 | 36.7 |
|  BASF SE | 9865 | 565614 | 50.4 |
|  Bayerische Motoren Werke AG | 10017 | 1020378 | 90.9 |
|  Commerzbank AG | 57877 | 661617 | 58.9 |
|  Covestro AG | 6816 | 313839 | 28.0 |
|  Daimler Truck Holding AG | 709 | 23825 | 2.1 |
|  DWS Group GmbH & Co. KGaA | 2483 | 89311 | 8.0 |
|  E.ON SE | 70807 | 772002 | 68.7 |
|  Encavis AG | 7652 | 148261 | 13.2 |
|  Evonik Industries AG | 11251 | 250093 | 22.3 |
|  Fraport AG Frankfurt Airport Services Worldwide | 23516 | 1338324 | 119.2 |
|  Freenet AG | 35730 | 868570 | 77.3 |
|  Knorr-Bremse AG | 13294 | 873788 | 77.8 |
|  Mercedes-Benz Group AG | 20634 | 1535418 | 136.7 |
|  METRO AG | 11901 | 117266 | 10.4 |
|  Nemetschek SE | 3553 | 189959 | 16.9 |
|  Rheinmetall AG | 1993 | 465680 | 41.5 |
|  SAP SE | 6505 | 771102 | 68.7 |
|  Scout24 SE | 6644 | 386801 | 34.4 |
|  Siemens AG, Registered Shares | 7555 | 1180131 | 105.1 |
|  Siemens Energy AG | 65333 | 1366035 | 121.6 |
|  Solarworld AG | 10 | 3 | 0.0 |
|  SUSE SA | 8891 | 172589 | 15.4 |
|  Talanx AG | 16403 | 811469 | 72.3 |
|  TeamViewer AG | 1712 | 23972 | 2.1 |
|  VERBIO Vereinigte BioEnergie AG | 150 | 9456 | 0.8 |
|  Wacker Chemie AG | 6313 | 954144 | 85.0 |
|  |  | 16048653 |  |
| **Hong Kong** |  |  |  |
|  AIA Group Ltd. | 39400 | 445521 | 39.7 |
|  ASMPT Ltd. | 35800 | 295695 | 26.3 |

---

35.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Hong Kong (continued)** |  |  |  |
|  Bank of East Asia Ltd. | 38200 | $49072 | 4.4% |
|  Cafe de Coral Holdings Ltd. | 10000 | 17507 | 1.6 |
|  Cathay Pacific Airways Ltd. | 724000 | 721547 | 64.2 |
|  Dah Sing Banking Group Ltd. | 114400 | 92504 | 8.2 |
|  Dah Sing Financial Holdings Ltd. | 86800 | 230061 | 20.5 |
|  First Pacific Co. Ltd. | 146000 | 50915 | 4.5 |
|  Galaxy Entertainment Group Ltd. | 8000 | 55502 | 4.9 |
|  Haitong International Securities Group Ltd. | 113300 | 13040 | 1.2 |
|  Hang Lung Group Ltd. | 40000 | 73817 | 6.6 |
|  Hang Lung Properties Ltd. | 115000 | 216838 | 19.3 |
|  Hongkong Land Holdings Ltd. | 121000 | 591542 | 52.7 |
|  Hysan Development Co. Ltd. | 79000 | 265791 | 23.7 |
|  Jardine Matheson Holdings Ltd. | 1100 | 58471 | 5.2 |
|  Kerry Properties Ltd. | 8500 | 21551 | 1.9 |
|  New World Development Co. Ltd. | 135000 | 403502 | 35.9 |
|  Pacific Basin Shipping Ltd. | 388000 | 136921 | 12.2 |
|  Shangri-La Asia Ltd. | 38000 | 33178 | 2.9 |
|  Swire Pacific Ltd., Class A | 97500 | 893479 | 79.6 |
|  Swire Properties Ltd. | 420600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1182120 | 105.3 |
|  United Energy Group Ltd. | 1470000 | 144571 | 12.9 |
|  Wharf Holdings Ltd. | 207000 | 539262 | 48.0 |
|  Yue Yuen Industrial Holdings Ltd. | 391500 | 642246 | 57.2 |
|  |  | 7174653 |  |
| **Ireland** |  |  |  |
|  AIB Group PLC | 48151 | 202263 | 18.0 |
|  Alkermes PLC | 12019 | 344224 | 30.7 |
|  Bank of Ireland Group PLC | 2658 | 28398 | 2.5 |
|  CRH PLC | 8280 | 383333 | 34.1 |
|  Experian PLC | 5619 | 205484 | 18.3 |
|  Glanbia PLC | 24493 | 298886 | 26.6 |
|  James Hardie Industries PLC | 14498 | 325314 | 29.0 |
|  Kingspan Group PLC | 34057 | 2190411 | 195.1 |
|  Medtronic PLC | 26852 | 2247244 | 200.1 |
|  Ryanair Holdings PLC | 15437 | 248540 | 22.1 |
|  Trane Technologies PLC | 355 | 63587 | 5.7 |
|  |  | 6537684 |  |
| **Israel** |  |  |  |
|  Airport City Ltd. | 4261 | 67493 | 6.0 |
|  Alony Hetz Properties & Investments Ltd. | 54835 | 588338 | 52.4 |
|  Check Point Software Technologies Ltd. | 9868 | 1255209 | 111.8 |
|  Elbit Systems Ltd. | 1728 | 290104 | 25.8 |
|  First International Bank Of Israel Ltd. | 582 | 23404 | 2.1 |
|  Gav-Yam Lands Corp. Ltd. | 10950 | 88472 | 7.9 |
|  Harel Insurance Investments & Financial Services Ltd. | 4563 | 44141 | 3.9 |
|  Nice Ltd. | 1584 | 327584 | 29.2 |
|  Nova Ltd. | 4294 | 389466 | 34.7 |
|  Phoenix Holdings Ltd. | 5674 | 61022 | 5.4 |
|  Wix.com Ltd. | 2945 | 256156 | 22.8 |
|  |  | 3391389 |  |
| **Italy** |  |  |  |
|  A2A SpA | 1144219 | 1722602 | 153.4 |
|  Azimut Holding SpA | 5099 | 127300 | 11.3 |
|  Banco BPM SpA | 48534 | 218441 | 19.5 |
|  BPER Banca | 197619 | 542880 | 48.3 |
|  Buzzi Unicem SpA | 5929 | 133510 | 11.9 |
|  Enel SpA | 84668 | 498535 | 44.4 |
|  FinecoBank Banca Fineco SpA | 16978 | 304786 | 27.1 |
|  Hera SpA | 22121 | 63545 | 5.7 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Italy (continued)** |  |  |  |
|  Infrastrutture Wireless Italiane SpA | 20917 | $229225 | 20.4% |
|  Intesa Sanpaolo SpA | 199788 | 525297 | 46.8 |
|  Italgas SpA | 7937 | 46461 | 4.1 |
|  Iveco Group NV | 29832 | 244341 | 21.8 |
|  Mediobanca Banca di Credito Finanziario SpA | 116293 | 1250144 | 111.3 |
|  Moncler SpA | 23429 | 1466366 | 130.6 |
|  Prysmian SpA | 7136 | 291418 | 26.0 |
|  Recordati Industria Chimica e Farmaceutica SpA | 549 | 24051 | 2.1 |
|  Reply SpA | 2284 | 296480 | 26.4 |
|  Snam SpA | 42407 | 216001 | 19.2 |
|  UniCredit SpA | 50584 | 987963 | 88.0 |
|  UnipolSai Assicurazioni SpA | 96374 | 256356 | 22.8 |
|  |  | 9445702 |  |
| **Japan** |  |  |  |
|  Acom Co. Ltd. | 189200 | 471645 | 42.0 |
|  Aeon Co. Ltd. | 17100 | 350579 | 31.2 |
|  AEON Financial Service Co. Ltd. | 33700 | 341600 | 30.4 |
|  Ain Holdings, Inc. | 2300 | 99450 | 8.9 |
|  Aisin Corp. | 9300 | 271332 | 24.2 |
|  Alfresa Holdings Corp. | 45900 | 574530 | 51.2 |
|  Amano Corp. | 5600 | 102458 | 9.1 |
|  ANA Holdings, Inc. | 17500 | 387323 | 34.5 |
|  Anritsu Corp. | 46100 | 441611 | 39.3 |
|  Aozora Bank Ltd. | 58300 | 1165662 | 103.8 |
|  Astellas Pharma, Inc. | 29100 | 428356 | 38.1 |
|  AZ-COM MARUWA Holdings, Inc. | 19100 | 241075 | 21.5 |
|  Benesse Holdings, Inc. | 79900 | 1222117 | 108.8 |
|  Brother Industries Ltd. | 11200 | 173961 | 15.5 |
|  Canon Marketing Japan, Inc. | 600 | 14241 | 1.3 |
|  Canon, Inc. | 19300 | 428312 | 38.1 |
|  Coca-Cola Bottlers Japan Holdings, Inc. | 36800 | 387462 | 34.5 |
|  COMSYS Holdings Corp. | 58400 | 1113828 | 99.2 |
|  CyberAgent, Inc. | 97200 | 909010 | 80.9 |
|  Daicel Corp. | 34000 | 250862 | 22.3 |
|  Dai-ichi Life Holdings, Inc. | 14600 | 342556 | 30.5 |
|  Daiichi Sankyo Co. Ltd. | 11500 | 361180 | 32.2 |
|  Daikin Industries Ltd. | 5600 | 972690 | 86.6 |
|  Daiwa House Industry Co. Ltd. | 67200 | 1613809 | 143.7 |
|  DeNA Co. Ltd. | 30400 | 426262 | 38.0 |
|  Denka Co. Ltd. | 10900 | 226116 | 20.1 |
|  Denso Corp. | 1500 | 81009 | 7.2 |
|  DMG Mori Co. Ltd. | 56000 | 855357 | 76.2 |
|  Dowa Holdings Co. Ltd. | 49600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731692 | 154.2 |
|  Ebara Corp. | 13300 | 564712 | 50.3 |
|  EXEO Group, Inc. | 13900 | 252752 | 22.5 |
|  Ezaki Glico Co. Ltd. | 800 | 22355 | 2.0 |
|  Fast Retailing Co. Ltd. | 1100 | 668095 | 59.5 |
|  Fuji Media Holdings, Inc. | 154800 | 1307452 | 116.4 |
|  Fujitsu Ltd. | 9400 | 1338366 | 119.2 |
|  GMO Payment Gateway, Inc. | 2200 | 203570 | 18.1 |
|  Hamamatsu Photonics KK | 3700 | 197692 | 17.6 |
|  Hitachi Ltd. | 10700 | 561134 | 50.0 |
|  House Foods Group, Inc. | 6100 | 130146 | 11.6 |
|  Hulic Co. Ltd. | 70500 | 579495 | 51.6 |
|  IHI Corp. | 24600 | 747463 | 66.6 |
|  Information Services International-Dentsu Ltd. | 2800 | 92759 | 8.3 |
|  INFRONEER Holdings, Inc. | 64400 | 514069 | 45.8 |
|  Internet Initiative Japan, Inc. | 36400 | 683074 | 60.8 |
|  Isetan Mitsukoshi Holdings Ltd. | 1500 | 16321 | 1.5 |
|  Itochu Techno-Solutions Corp. | 31100 | 769958 | 68.6 |
|  J Front Retailing Co. Ltd. | 218700 | 2036859 | 181.4 |

---

S C H E D U L E O F I N V E S T M E N T S 36

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Japan Post Bank Co. Ltd. | 112300 | $997771 | 88.8% |
|  JTEKT Corp. | 29100 | 215727 | 19.2 |
|  Kadokawa Corp. | 24800 | 464040 | 41.3 |
|  Kakaku.com, Inc. | 22400 | 373455 | 33.3 |
|  Kandenko Co. Ltd. | 66400 | 446284 | 39.7 |
|  Kaneka Corp. | 11700 | 307176 | 27.4 |
|  Kao Corp. | 30100 | 1216697 | 108.3 |
|  Kawasaki Kisen Kaisha Ltd. | 4300 | 89788 | 8.0 |
|  KDDI Corp. | 2500 | 78109 | 7.0 |
|  Kenedix Office Investment Corp. | 53 | 125905 | 11.2 |
|  Kewpie Corp. | 20500 | 356915 | 31.8 |
|  Kinden Corp. | 50100 | 574223 | 51.1 |
|  Kirin Holdings Co. Ltd. | 42400 | 653372 | 58.2 |
|  Koei Tecmo Holdings Co. Ltd. | 5000 | 90931 | 8.1 |
|  Koito Manufacturing Co. Ltd. | 42900 | 723645 | 64.4 |
|  Kokuyo Co. Ltd. | 34100 | 486237 | 43.3 |
|  Kose Corp. | 5400 | 595797 | 53.1 |
|  K's Holdings Corp. | 50700 | 448235 | 39.9 |
|  Kubota Corp. | 63000 | 946782 | 84.3 |
|  Kusuri no Aoki Holdings Co. Ltd. | 3300 | 185935 | 16.6 |
|  Kyocera Corp. | 9500 | 492968 | 43.9 |
|  Kyowa Kirin Co. Ltd. | 8100 | 180638 | 16.1 |
|  Lawson, Inc. | 24700 | 987661 | 87.9 |
|  Lintec Corp. | 20300 | 351535 | 31.3 |
|  Lion Corp. | 77100 | 853476 | 76.0 |
|  Lixil Corp. | 21200 | 365992 | 32.6 |
|  Mani, Inc. | 30700 | 449050 | 40.0 |
|  McDonald's Holdings Co. Japan Ltd. | 500 | 19754 | 1.8 |
|  Medipal Holdings Corp. | 5800 | 77436 | 6.9 |
|  MISUMI Group, Inc. | 5100 | 128354 | 11.4 |
|  Mitsubishi Chemical Group Corp. | 14600 | 81927 | 7.3 |
|  Mitsubishi Electric Corp. | 53500 | 589610 | 52.5 |
|  Mitsubishi Estate Co. Ltd. | 73100 | 939563 | 83.7 |
|  Mitsubishi Gas Chemical Co., Inc. | 45300 | 661947 | 58.9 |
|  Mitsubishi HC Capital, Inc. | 84800 | 432832 | 38.5 |
|  Mitsubishi Motors Corp. | 35900 | 138319 | 12.3 |
|  Mitsubishi UFJ Financial Group, Inc. | 62300 | 456340 | 40.6 |
|  Mitsui Chemicals, Inc. | 3300 | 77677 | 6.9 |
|  Mitsui Fudosan Co. Ltd. | 60000 | 1124619 | 100.1 |
|  Mizuho Financial Group, Inc. | 53000 | 827884 | 73.7 |
|  MS&AD Insurance Group Holdings, Inc. | 11300 | 362433 | 32.3 |
|  Nabtesco Corp. | 2100 | 61485 | 5.5 |
|  Nagoya Railroad Co. Ltd. | 1200 | 19842 | 1.8 |
|  NEC Corp. | 44500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607678 | 143.2 |
|  NEC Networks & System Integration Corp. | 40300 | 538183 | 47.9 |
|  NET One Systems Co. Ltd. | 24200 | 655819 | 58.4 |
|  NGK Insulators Ltd. | 25100 | 347416 | 30.9 |
|  NGK Spark Plug Co. Ltd. | 17400 | 340015 | 30.3 |
|  Nihon M&A Center Holdings, Inc. | 37100 | 379288 | 33.8 |
|  Nippon Express Holdings, Inc. | 2300 | 133475 | 11.9 |
|  Nippon Shinyaku Co. Ltd. | 700 | 36026 | 3.2 |
|  Nippon Telegraph & Telephone Corp. | 79700 | 2389846 | 212.8 |
|  Nippon Television Holdings, Inc. | 52800 | 426874 | 38.0 |
|  Nipro Corp. | 28400 | 227978 | 20.3 |
|  Nissan Motor Co. Ltd. | 120500 | 432949 | 38.6 |
|  Nitto Denko Corp. | 1600 | 103420 | 9.2 |
|  Nomura Real Estate Holdings, Inc. | 18800 | 414360 | 36.9 |
|  Nomura Research Institute Ltd. | 24900 | 597789 | 53.2 |
|  NS Solutions Corp. | 13600 | 350044 | 31.2 |
|  NSK Ltd. | 72400 | 407204 | 36.3 |
|  Obayashi Corp. | 206500 | 1601763 | 142.6 |
|  OBIC Business Consultants Co. Ltd. | 24300 | 954317 | 85.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Olympus Corp. | 6000 | $112798 | 10.0% |
|  Omron Corp. | 1100 | 63647 | 5.7 |
|  Oracle Corp. Japan. | 1800 | 123312 | 11.0 |
|  Oriental Land Co. Ltd. | 1100 | 183282 | 16.3 |
|  Otsuka Corp. | 38300 | 1260052 | 112.2 |
|  Otsuka Holdings Co. Ltd. | 20500 | 657648 | 58.6 |
|  Panasonic Holdings Corp. | 21100 | 195668 | 17.4 |
|  Penta-Ocean Construction Co. Ltd. | 52600 | 262346 | 23.4 |
|  Pigeon Corp. | 2100 | 33375 | 3.0 |
|  Pola Orbis Holdings, Inc. | 91700 | 1323022 | 117.8 |
|  Rakuten Group, Inc. | 300 | 1530 | 0.1 |
|  Resona Holdings, Inc. | 4900 | 27115 | 2.4 |
|  Ricoh Co. Ltd. | 160200 | 1243571 | 110.7 |
|  Rohm Co. Ltd. | 4700 | 376618 | 33.5 |
|  Ryohin Keikaku Co. Ltd. | 1900 | 21067 | 1.9 |
|  Sanrio Co. Ltd. | 3600 | 137312 | 12.2 |
|  Santen Pharmaceutical Co. Ltd. | 69200 | 539466 | 48.0 |
|  Sapporo Holdings Ltd. | 5700 | 139200 | 12.4 |
|  Sawai Group Holdings Co. Ltd. | 17400 | 538352 | 47.9 |
|  SCSK Corp. | 16800 | 273629 | 24.4 |
|  Shimizu Corp. | 70700 | 396323 | 35.3 |
|  Shiseido Co. Ltd. | 2200 | 114347 | 10.2 |
|  SHO-BOND Holdings Co. Ltd. | 400 | 17066 | 1.5 |
|  Skylark Holdings Co. Ltd. | 29000 | 345125 | 30.7 |
|  SoftBank Group Corp. | 68800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3257133 | 290.0 |
|  Sohgo Security Services Co. Ltd. | 23100 | 635986 | 56.6 |
|  Sompo Holdings, Inc. | 19200 | 826539 | 73.6 |
|  Sugi Holdings Co. Ltd. | 900 | 39337 | 3.5 |
|  Sumitomo Bakelite Co. Ltd. | 5700 | 185729 | 16.5 |
|  Sumitomo Corp. | 17800 | 319509 | 28.5 |
|  Sumitomo Electric Industries Ltd. | 30600 | 367695 | 32.7 |
|  Sumitomo Forestry Co. Ltd. | 5300 | 99097 | 8.8 |
|  Sumitomo Heavy Industries Ltd. | 21800 | 484772 | 43.2 |
|  Sumitomo Mitsui Trust Holdings, Inc. | 7800 | 284143 | 25.3 |
|  Sumitomo Pharma Co. Ltd. | 42400 | 298109 | 26.5 |
|  Sumitomo Realty & Development Co. Ltd. | 55600 | 1355368 | 120.7 |
|  Sumitomo Rubber Industries Ltd. | 4800 | 42613 | 3.8 |
|  Suntory Beverage & Food Ltd. | 11700 | 395083 | 35.2 |
|  T&D Holdings, Inc. | 31800 | 508999 | 45.3 |
|  Taisei Corp. | 9000 | 310698 | 27.7 |
|  Taisho Pharmaceutical Holdings Co. Ltd. | 16300 | 685671 | 61.1 |
|  Takara Bio, Inc. | 4900 | 64867 | 5.8 |
|  TBS Holdings, Inc. | 32600 | 380586 | 33.9 |
|  Terumo Corp. | 21800 | 634606 | 56.5 |
|  Toda Corp. | 49900 | 272179 | 24.2 |
|  Tokyo Ohka Kogyo Co. Ltd. | 6400 | 315433 | 28.1 |
|  Tokyo Tatemono Co. Ltd. | 66600 | 825674 | 73.5 |
|  Toray Industries, Inc. | 11200 | 68813 | 6.1 |
|  Toyo Tire & Rubber Co. Ltd. | 12400 | 148347 | 13.2 |
|  Toyoda Gosei Co. Ltd. | 10800 | 179324 | 16.0 |
|  Toyota Boshoku Corp. | 20100 | 298121 | 26.5 |
|  Trend Micro, Inc. | 400 | 19806 | 1.8 |
|  TS Tech Co. Ltd. | 34900 | 434739 | 38.7 |
|  Tsumura & Co. | 3900 | 83390 | 7.4 |
|  Tsuruha Holdings, Inc. | 16400 | 1207492 | 107.5 |
|  Ube Industries Ltd. | 15000 | 235280 | 21.0 |
|  Ulvac, Inc. | 1500 | 70173 | 6.2 |
|  Welcia Holdings Co. Ltd. | 4300 | 96108 | 8.6 |
|  Yakult Honsha Co. Ltd. | 5100 | 364078 | 32.4 |
|  Yamaguchi Financial Group, Inc. | 6700 | 46340 | 4.1 |
|  Yamato Kogyo Co. Ltd. | 7800 | 295633 | 26.3 |
|  Yamazaki Baking Co. Ltd. | 24300 | 284303 | 25.3 |

---

37.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Yaskawa Electric Corp. | 600 | $23453 | 2.1% |
|  Z Holdings Corp. | 282900 | 823159 | 73.3 |
|  Zenkoku Hosho Co. Ltd. | 5700 | 222002 | 19.8 |
|  Zensho Holdings Co. Ltd. | 2000 | 51050 | 4.5 |
|  ZOZO, Inc. | 31700 | 821766 | 73.2 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84424241 |  |
| **Luxembourg** |  |  |  |
|  L'Occitane International SA | 12750 | 35474 | 3.2 |
| **Macau** |  |  |  |
|  MGM China Holdings Ltd. | 104800 | 132403 | 11.8 |
|  Wynn Macau Ltd. | 249600 | 285675 | 25.4 |
|  |  | 418078 |  |
| **Mexico** |  |  |  |
|  Fresnillo PLC | 16995 | 172633 | 15.4 |
| **Netherlands** |  |  |  |
|  ABN AMRO Bank NV | 12086 | 200598 | 17.9 |
|  ASR Nederland NV | 26034 | 1232228 | 109.7 |
|  Heineken Holding NV | 7720 | 637409 | 56.8 |
|  Koninklijke DSM NV | 25114 | 3229710 | 287.6 |
|  Koninklijke Philips NV | 1172 | 20152 | 1.8 |
|  Koninklijke Vopak NV | 3783 | 113984 | 10.1 |
|  NN Group NV | 6413 | 278632 | 24.8 |
|  Randstad NV | 11490 | 736490 | 65.6 |
|  Signify NV | 14767 | 534645 | 47.6 |
|  |  | 6983848 |  |
| **New Zealand** |  |  |  |
|  a2 Milk Co. Ltd. | 78222 | 378222 | 33.7 |
|  Contact Energy Ltd. | 50220 | 252564 | 22.5 |
|  Infratil Ltd. | 93172 | 536395 | 47.7 |
|  |  | 1167181 |  |
| **Norway** |  |  |  |
|  Equinor ASA | 33459 | 1019718 | 90.8 |
|  Gjensidige Forsikring ASA | 18552 | 333443 | 29.7 |
|  Golden Ocean Group Ltd. | 35169 | 336451 | 30.0 |
|  Kongsberg Gruppen ASA | 20783 | 827406 | 73.7 |
|  NEL ASA | 98606 | 168994 | 15.0 |
|  Nordic Semiconductor ASA | 4680 | 74628 | 6.6 |
|  TOMRA Systems ASA | 55726 | 983750 | 87.6 |
|  Var Energi ASA | 122667 | 373138 | 33.2 |
|  |  | 4117528 |  |
| **Poland** |  |  |  |
|  InPost SA | 9115 | 88025 | 7.8 |
| **Puerto Rico** |  |  |  |
|  Popular, Inc. | 11715 | 804117 | 71.6 |
| **Singapore** |  |  |  |
|  City Developments Ltd. | 81300 | 515997 | 45.9 |
|  ComfortDelGro Corp. Ltd. | 260700 | 238840 | 21.3 |
|  Keppel REIT | 506300 | 373153 | 33.2 |
|  Mapletree Pan Asia Commercial Trust | 64300 | 89468 | 8.0 |
|  NetLink NBN Trust | 736400 | 491116 | 43.7 |
|  SATS Ltd. | 166300 | 383771 | 34.2 |
|  Sembcorp Industries Ltd. | 646700 | 1783388 | 158.8 |
|  Singapore Post Ltd. | 691100 | 295238 | 26.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Singapore (continued)** |  |  |  |
|  StarHub Ltd. | 158800 | $138120 | 12.3% |
|  Suntec Real Estate Investment Trust | 37600 | 40200 | 3.6 |
|  |  | 4349291 |  |
| **Spain** |  |  |  |
|  Acciona SA | 2520 | 491652 | 43.8 |
|  Banco Bilbao Vizcaya Argentaria SA | 206870 | 1461283 | 130.1 |
|  Banco de Sabadell SA | 31533 | 41225 | 3.7 |
|  Bankinter SA | 25385 | 183153 | 16.3 |
|  EDP Renovaveis SA | 13512 | 293901 | 26.2 |
|  Industria de Diseno Textil SA | 4402 | 137434 | 12.2 |
|  Inmobiliaria Colonial Socimi SA | 31030 | 226325 | 20.2 |
|  Mapfre SA | 268091 | 539250 | 48.0 |
|  Merlin Properties Socimi SA | 110421 | 1079109 | 96.1 |
|  Repsol SA | 7397 | 121509 | 10.8 |
|  Solaria Energia y Medio Ambiente SA | 14516 | 297849 | 26.5 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4872690 |  |
| **Sweden** |  |  |  |
|  Alfa Laval AB | 6199 | 194807 | 17.3 |
|  Atlas Copco AB, A Shares | 41688 | 494672 | 44.1 |
|  Atlas Copco AB, B Shares | 20810 | 219496 | 19.5 |
|  Autoliv, Inc. | 17662 | 1627023 | 144.9 |
|  Avanza Bank Holding AB | 13283 | 306487 | 27.3 |
|  Beijer Ref AB, Class B | 1254 | 19345 | 1.7 |
|  Elekta AB, B Shares | 52202 | 379967 | 33.8 |
|  Epiroc AB, Class A | 2130 | 41443 | 3.7 |
|  Epiroc AB, Class B | 21929 | 365611 | 32.6 |
|  EQT AB | 3084 | 69590 | 6.2 |
|  Essity AB, Class B | 1128 | 29468 | 2.6 |
|  Getinge AB, B Shares | 6747 | 151994 | 13.5 |
|  H & M Hennes & Mauritz AB, B Shares | 13936 | 171640 | 15.3 |
|  Industrivarden AB, A Shares | 1989 | 52689 | 4.7 |
|  Industrivarden AB, C Shares | 15222 | 401018 | 35.7 |
|  Investor AB, A Shares | 15258 | 304528 | 27.1 |
|  L E Lundbergforetagen AB, B Shares | 1465 | 67840 | 6.0 |
|  Saab AB, Class B | 14064 | 575759 | 51.3 |
|  Sagax AB, Class B | 2340 | 58207 | 5.2 |
|  Spotify Technology SA | 5812 | 655129 | 58.3 |
|  Sweco AB, B Shares | 6158 | 66801 | 6.0 |
|  Thule Group AB | 24383 | 584309 | 52.0 |
|  Volvo AB, A Shares | 739 | 15352 | 1.4 |
|  Volvo AB, B Shares | 1419 | 28068 | 2.5 |
|  |  | 6881243 |  |
| **Switzerland** |  |  |  |
|  ABB Ltd., Registered Shares | 34086 | 1186726 | 105.7 |
|  Accelleron Industries AG | 16636 | 392930 | 35.0 |
|  Banque Cantonale Vaudoise, Registered Shares | 1988 | 188973 | 16.8 |
|  Belimo Holding AG, Registered Shares | 1119 | 590210 | 52.6 |
|  Chocoladefabriken Lindt & Spruengli AG | 69 | 757808 | 67.5 |
|  Chocoladefabriken Lindt & Spruengli AG, Registered Shares | 1 | 112559 | 10.0 |
|  Clariant AG, Registered Shares | 3536 | 60637 | 5.4 |
|  Dufry AG, Registered Shares | 33169 | 1522709 | 135.6 |
|  Geberit AG, Registered Shares | 3698 | 2104097 | 187.4 |
|  Georg Fischer AG, Registered Shares | 952 | 65638 | 5.8 |
|  Givaudan SA, Registered Shares | 323 | 1047240 | 93.3 |
|  Helvetia Holding AG, Registered Shares | 472 | 58826 | 5.2 |
|  Idorsia Ltd. | 7317 | 123077 | 11.0 |
|  Nestle SA, Registered Shares | 1209 | 147509 | 13.1 |
|  Partners Group Holding AG | 315 | 295563 | 26.3 |

---

S C H E D U L E O F I N V E S T M E N T S 38

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Switzerland (continued)** |  |  |  |
|  Roche Holding AG | 524 | $191805 | 17.1% |
|  Sika AG, Registered Shares | 6937 | 1971127 | 175.5 |
|  Straumann Holding AG, Registered Shares | 1527 | 199941 | 17.8 |
|  Swatch Group AG | 1415 | 512327 | 45.6 |
|  Swiss Prime Site AG, Registered Shares | 252 | 22406 | 2.0 |
|  Swiss Re AG | 370 | 38621 | 3.4 |
|  Tecan Group AG, Registered Shares | 573 | 240473 | 21.4 |
|  UBS Group AG, Registered Shares | 21229 | 453141 | 40.4 |
|  VAT Group AG | 436 | 135728 | 12.1 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12420071 |  |
| **United Kingdom** |  |  |  |
|  Airtel Africa PLC | 13308 | 19212 | 1.7 |
|  Ashtead Group PLC | 7727 | 508968 | 45.3 |
|  AstraZeneca PLC | 5368 | 703275 | 62.6 |
|  Atlantica Sustainable Infrastructure PLC | 45921 | 1259154 | 112.1 |
|  Aviva PLC | 99193 | 559433 | 49.8 |
|  Barclays PLC | 211306 | 485748 | 43.3 |
|  Beazley PLC | 344969 | 2838887 | 252.8 |
|  Bellway PLC | 3890 | 101745 | 9.1 |
|  Centrica PLC | 624392 | 777869 | 69.3 |
|  ConvaTec Group PLC | 147731 | 428489 | 38.2 |
|  Croda International PLC | 38 | 3239 | 0.3 |
|  Darktrace PLC | 56694 | 147271 | 13.1 |
|  Derwent London PLC | 2588 | 82557 | 7.4 |
|  Direct Line Insurance Group PLC | 975876 | 2139749 | 190.5 |
|  Dr. Martens PLC | 213242 | 408690 | 36.4 |
|  Drax Group PLC | 4331 | 34589 | 3.1 |
|  easyJet PLC | 27157 | 165429 | 14.7 |
|  Hammerson PLC | 40 | 13 | 0.0 |
|  Hargreaves Lansdown PLC | 34242 | 376978 | 33.6 |
|  Hays PLC | 190441 | 290565 | 25.9 |
|  IMI PLC | 76907 | 1377027 | 122.6 |
|  Intermediate Capital Group PLC | 48755 | 838948 | 74.7 |
|  ITV PLC | 757525 | 758609 | 67.5 |
|  Johnson Matthey PLC | 20277 | 566393 | 50.4 |
|  Kingfisher PLC | 133786 | 461551 | 41.1 |
|  Legal & General Group PLC | 37844 | 119093 | 10.6 |
|  Liberty Global PLC, Class A | 45215 | 980713 | 87.3 |
|  Liberty Global PLC, Class C | 675 | 15086 | 1.3 |
|  LivaNova PLC | 14101 | 792476 | 70.6 |
|  Melrose Industries PLC | 244041 | 430285 | 38.3 |
|  Nomad Foods Ltd. | 25914 | 461010 | 41.0 |
|  Pennon Group PLC | 30046 | 339862 | 30.3 |
|  Persimmon PLC | 6112 | 106748 | 9.5 |
|  Renishaw PLC | 1960 | 95664 | 8.5 |
|  Schroders PLC | 168126 | 994261 | 88.5 |
|  Segro PLC | 235058 | 2419591 | 215.5 |
|  Shell PLC | 1064 | 31237 | 2.8 |
|  Spectris PLC | 47756 | 1893285 | 168.6 |
|  Spirax-Sarco Engineering PLC | 2384 | 340535 | 30.3 |
|  St. James's Place PLC | 10888 | 165103 | 14.7 |
|  Standard Chartered PLC | 13853 | 116360 | 10.4 |
|  TechnipFMC PLC | 24281 | 337263 | 30.0 |
|  Travis Perkins PLC | 50152 | 629145 | 56.0 |
|  Tritax Big Box REIT PLC | 326014 | 628153 | 55.9 |
|  UNITE Group PLC | 11727 | 144466 | 12.9 |
|  United Utilities Group PLC | 3103 | 40603 | 3.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **United Kingdom (continued)** |  |  |  |
|  Weir Group PLC | 434 | $9567 | 0.9% |
|  WPP PLC | 6311 | 73736 | 6.6 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26498630 |  |
| **United States** |  |  |  |
|  3M Co. | 14890 | 1713541 | 152.6 |
|  A O Smith Corp. | 4111 | 278315 | 24.8 |
|  Acadia Healthcare Co., Inc. | 2433 | 204421 | 18.2 |
|  Acuity Brands, Inc. | 1076 | 202848 | 18.1 |
|  Adobe, Inc. | 4363 | 1615793 | 143.9 |
|  Advance Auto Parts, Inc. | 5533 | 842565 | 75.0 |
|  Advanced Drainage Systems, Inc. | 2528 | 254924 | 22.7 |
|  AECOM | 8941 | 780281 | 69.5 |
|  Agilent Technologies, Inc. | 3569 | 542774 | 48.3 |
|  Akamai Technologies, Inc. | 6104 | 542951 | 48.3 |
|  Alcoa Corp. | 5590 | 292022 | 26.0 |
|  Align Technology Inc. | 3166 | 853965 | 76.0 |
|  Allstate Corp. | 10636 | 1366407 | 121.7 |
|  Alnylam Pharmaceuticals, Inc. | 1339 | 303150 | 27.0 |
|  Alphabet, Inc., Class A | 42132 | 4164327 | 370.8 |
|  Alphabet, Inc., Class C | 38158 | 3810839 | 339.3 |
|  Amazon.com, Inc. | 4139 | 426855 | 38.0 |
|  Amedisys, Inc. | 14485 | 1400120 | 124.7 |
|  American Financial Group, Inc. | 888 | 126620 | 11.3 |
|  AMETEK, Inc. | 382 | 55359 | 4.9 |
|  Analog Devices, Inc. | 17494 | 2999696 | 267.1 |
|  ANSYS, Inc. | 4214 | 1122441 | 99.9 |
|  Antero Resources Corp. | 13275 | 382851 | 34.1 |
|  Aon PLC, Class A | 5295 | 1687411 | 150.3 |
|  APA Corp. | 11231 | 497870 | 44.3 |
|  Apple, Inc. | 4211 | 607605 | 54.1 |
|  Applied Materials, Inc. | 2657 | 296229 | 26.4 |
|  Armstrong World Industries, Inc. | 11354 | 878913 | 78.3 |
|  Arrow Electronics, Inc. | 7941 | 932988 | 83.1 |
|  Arthur J Gallagher & Co. | 529 | 103536 | 9.2 |
|  ASGN, Inc. | 9100 | 827645 | 73.7 |
|  Autodesk, Inc. | 3390 | 729392 | 64.9 |
|  AutoNation, Inc. | 6486 | 821906 | 73.2 |
|  AutoZone, Inc. | 807 | 1968152 | 175.3 |
|  Avery Dennison Corp. | 2040 | 386458 | 34.4 |
|  Avis Budget Group, Inc. | 1060 | 212042 | 18.9 |
|  AZEK Co., Inc., Class A | 1050 | 25337 | 2.3 |
|  Bank of New York Mellon Corp. | 10282 | 519961 | 46.3 |
|  Bausch Health Cos., Inc. | 2754 | 21133 | 1.9 |
|  Baxter International, Inc. | 4200 | 191898 | 17.1 |
|  Beacon Roofing Supply, Inc. | 6748 | 383826 | 34.2 |
|  Becton Dickinson and Co. | 4883 | 1231590 | 109.7 |
|  Berry Global Group, Inc. | 14782 | 912493 | 81.3 |
|  Best Buy Co., Inc. | 13086 | 1160990 | 103.4 |
|  BioMarin Pharmaceutical, Inc. | 4198 | 484239 | 43.1 |
|  Bio-Rad Laboratories, Inc., Class A | 265 | 123877 | 11.0 |
|  Black Hills Corp. | 2677 | 193761 | 17.3 |
|  Blueprint Medicines Corp. | 6715 | 313859 | 27.9 |
|  Booz Allen Hamilton Holding Corp., Class A | 4659 | 440928 | 39.3 |
|  Boston Beer Co., Inc., Class A | 2879 | 1118808 | 99.6 |
|  Boston Scientific Corp. | 39133 | 1809901 | 161.2 |
|  Box, Inc., Class A | 7233 | 231384 | 20.6 |
|  Boyd Gaming Corp. | 14026 | 873960 | 77.8 |
|  Bright Horizons Family Solutions, Inc. | 1098 | 84304 | 7.5 |
|  Brighthouse Financial, Inc. | 15944 | 897169 | 79.9 |

---

39.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **United States (continued)** |  |  |  |
|  Brixmor Property Group, Inc. | 7599 | $178804 | 15.9% |
|  Brown-Forman Corp., Class B | 4402 | 293085 | 26.1 |
|  Bruker Corp. | 24084 | 1688770 | 150.4 |
|  Builders FirstSource, Inc. | 10035 | 799790 | 71.2 |
|  Cabot Corp. | 214 | 16121 | 1.4 |
|  CACI International, Inc., Class A | 2196 | 676566 | 60.2 |
|  Camden Property Trust | 825 | 101648 | 9.1 |
|  Capital One Financial Corp. | 13205 | 1571395 | 139.9 |
|  Carlisle Cos., Inc. | 6412 | 1608514 | 143.2 |
|  Carnival Corp. | 68008 | 735847 | 65.5 |
|  Carnival PLC | 30036 | 286971 | 25.6 |
|  Carter's, Inc. | 2934 | 244608 | 21.8 |
|  Catalent, Inc. | 6422 | 343898 | 30.6 |
|  CBRE Group, Inc., Class A | 1409 | 120484 | 10.7 |
|  CF Industries Holdings, Inc. | 841 | 71233 | 6.3 |
|  CH Robinson Worldwide, Inc. | 6805 | 681657 | 60.7 |
|  Charles River Laboratories International, Inc. | 4365 | 1061786 | 94.5 |
|  Chart Industries, Inc. | 1526 | 204453 | 18.2 |
|  Chemed Corp. | 322 | 162655 | 14.5 |
|  Cheniere Energy, Inc. | 16487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2519049 | 224.3 |
|  Chevron Corp. | 2615 | 455062 | 40.5 |
|  Chipotle Mexican Grill, Inc., Class A | 69 | 113600 | 10.1 |
|  Church & Dwight Co., Inc. | 716 | 57896 | 5.2 |
|  Ciena Corp. | 768 | 39951 | 3.6 |
|  Cirrus Logic, Inc. | 18358 | 1659380 | 147.8 |
|  Citigroup, Inc. | 9541 | 498231 | 44.4 |
|  Clearway Energy, Inc., Class C | 20149 | 680835 | 60.6 |
|  CMS Energy Corp. | 4947 | 312601 | 27.8 |
|  Coca-Cola Co. | 14236 | 872952 | 77.7 |
|  Cognex Corp. | 615 | 33665 | 3.0 |
|  Colgate-Palmolive Co. | 24244 | 1806905 | 160.9 |
|  Columbia Sportswear Co. | 2372 | 227475 | 20.3 |
|  Comerica, Inc. | 3624 | 265675 | 23.7 |
|  Commercial Metals Co. | 23068 | 1251900 | 111.5 |
|  Comstock Resources, Inc. | 46649 | 566785 | 50.5 |
|  ConocoPhillips | 4137 | 504176 | 44.9 |
|  Credit Acceptance Corp. | 1280 | 592179 | 52.7 |
|  Crocs, Inc. | 10419 | 1268722 | 113.0 |
|  CSX Corp. | 1739 | 53770 | 4.8 |
|  Cummins, Inc. | 1501 | 374560 | 33.4 |
|  CVS Health Corp. | 24807 | 2188474 | 194.9 |
|  Cytokinetics, Inc. | 4573 | 194261 | 17.3 |
|  Danaher Corp. | 900 | 237942 | 21.2 |
|  Darling Ingredients, Inc. | 4166 | 276164 | 24.6 |
|  Deckers Outdoor Corp. | 6822 | 2916269 | 259.7 |
|  Dell Technologies, Inc., Class C | 9231 | 374963 | 33.4 |
|  DENTSPLY SIRONA, Inc. | 16579 | 610605 | 54.4 |
|  Devon Energy Corp. | 2187 | 138306 | 12.3 |
|  DocuSign, Inc., Class A | 563 | 34140 | 3.0 |
|  Dolby Laboratories, Inc., Class A | 28837 | 2294272 | 204.3 |
|  Dollar General Corp. | 6805 | 1589648 | 141.6 |
|  Dollar Tree, Inc. | 2270 | 340909 | 30.4 |
|  Dominion Energy, Inc. | 9417 | 599298 | 53.4 |
|  Domino's Pizza, Inc. | 5847 | 2063991 | 183.8 |
|  Donaldson Co., Inc. | 4192 | 261371 | 23.3 |
|  DoubleVerify Holdings, Inc. | 777 | 21127 | 1.9 |
|  Douglas Emmett, Inc. | 1501 | 25142 | 2.2 |
|  Dropbox, Inc., Class A | 18787 | 436422 | 38.9 |
|  DuPont de Nemours, Inc. | 14245 | 1053418 | 93.8 |
|  DXC Technology Co. | 9297 | 267103 | 23.8 |
|  Eastman Chemical Co. | 18678 | 1646839 | 146.6 |
|  Eaton Corp. PLC | 2037 | 330422 | 29.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **United States (continued)** |  |  |  |
|  eBay, Inc. | 99816 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4940892 | 440.0% |
|  Ecolab, Inc. | 9556 | 1479555 | 131.7 |
|  Edwards Lifesciences Corp. | 23106 | 1772230 | 157.8 |
|  Electronic Arts, Inc. | 10428 | 1341875 | 119.5 |
|  Elevance Health, Inc. | 169 | 84498 | 7.5 |
|  Eli Lilly & Co. | 528 | 181711 | 16.2 |
|  Enovis Corp. | 13880 | 873746 | 77.8 |
|  Envista Holdings Corp. | 5257 | 204970 | 18.3 |
|  EOG Resources, Inc. | 19626 | 2595539 | 231.1 |
|  EPAM Systems, Inc. | 1091 | 362921 | 32.3 |
|  Equinix, Inc. | 979 | 722629 | 64.3 |
|  Equity Residential | 12347 | 785887 | 70.0 |
|  Essex Property Trust, Inc. | 6442 | 1456343 | 129.7 |
|  Etsy, Inc. | 6056 | 833184 | 74.2 |
|  Everest Re Group Ltd. | 514 | 179741 | 16.0 |
|  Evergy, Inc. | 22168 | 1388825 | 123.7 |
|  Exelixis, Inc. | 34595 | 609564 | 54.3 |
|  Exxon Mobil Corp. | 6474 | 751049 | 66.9 |
|  F5, Inc. | 3496 | 516219 | 46.0 |
|  FactSet Research Systems, Inc. | 4132 | 1747588 | 155.6 |
|  FedEx Corp. | 4707 | 912499 | 81.3 |
|  Fidelity National Information Services, Inc. | 13993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050035 | 93.5 |
|  First Solar, Inc. | 4462 | 792451 | 70.6 |
|  Flowserve Corp. | 19220 | 661552 | 58.9 |
|  Fluor Corp. | 34546 | 1269566 | 113.0 |
|  Ford Motor Co. | 80298 | 1084826 | 96.6 |
|  Fortinet, Inc. | 7988 | 418092 | 37.2 |
|  Fox Corp., Class A | 96537 | 3276466 | 291.8 |
|  Fox Corp., Class B | 49720 | 1576124 | 140.3 |
|  FTI Consulting, Inc. | 4223 | 673653 | 60.0 |
|  Garmin Ltd. | 4358 | 430919 | 38.4 |
|  Gartner, Inc. | 3501 | 1183828 | 105.4 |
|  General Dynamics Corp. | 3845 | 896116 | 79.8 |
|  General Electric Co. | 27162 | 2185998 | 194.7 |
|  Gentex Corp. | 30020 | 885890 | 78.9 |
|  Global Payments, Inc. | 2063 | 232541 | 20.7 |
|  Globus Medical, Inc., Class A | 12585 | 950168 | 84.6 |
|  Goodyear Tire & Rubber Co. | 1303 | 14659 | 1.3 |
|  Graco, Inc. | 17952 | 1226481 | 109.2 |
|  Grocery Outlet Holding Corp. | 39206 | 1191470 | 106.1 |
|  Guidewire Software, Inc. | 4129 | 302408 | 26.9 |
|  Halliburton Co. | 4671 | 192539 | 17.1 |
|  Halozyme Therapeutics, Inc. | 2686 | 139054 | 12.4 |
|  Hanover Insurance Group, Inc. | 1808 | 243321 | 21.7 |
|  HB Fuller Co. | 3094 | 213795 | 19.0 |
|  HealthEquity, Inc. | 708 | 43082 | 3.8 |
|  HEICO Corp. | 1101 | 188216 | 16.8 |
|  Helmerich & Payne, Inc. | 7562 | 366303 | 32.6 |
|  Henry Schein, Inc. | 2782 | 239669 | 21.3 |
|  Hexcel Corp. | 708 | 49971 | 4.5 |
|  Home Depot, Inc. | 9190 | 2979122 | 265.3 |
|  HP, Inc. | 106505 | 3103556 | 276.4 |
|  HubSpot, Inc. | 1120 | 388651 | 34.6 |
|  Huntington Ingalls Industries, Inc. | 164 | 36169 | 3.2 |
|  Huntsman Corp. | 108623 | 3442263 | 306.5 |
|  ICU Medical, Inc. | 2713 | 524233 | 46.7 |
|  IDACORP, Inc. | 209 | 22114 | 2.0 |
|  IDEXX Laboratories, Inc. | 9 | 4325 | 0.4 |
|  Illinois Tool Works, Inc. | 1897 | 447768 | 39.9 |
|  Illumina, Inc. | 75 | 16065 | 1.4 |
|  Inari Medical, Inc. | 1860 | 106113 | 9.4 |
|  Incyte Corp. | 3838 | 326767 | 29.1 |

---

S C H E D U L E O F I N V E S T M E N T S 40

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Intel Corp. | 53426 | $1509819 | 134.4% |
|  International Paper Co. | 23403 | 978713 | 87.2 |
|  Intuit, Inc. | 1698 | 717694 | 63.9 |
|  Intuitive Surgical, Inc. | 1224 | 300725 | 26.8 |
|  Invesco Ltd. | 80400 | 1488204 | 132.5 |
|  Ionis Pharmaceuticals, Inc. | 1711 | 68218 | 6.1 |
|  IQVIA Holdings, Inc. | 1479 | 339297 | 30.2 |
|  Iron Mountain, Inc. | 2846 | 155335 | 13.8 |
|  ITT, Inc. | 532 | 48726 | 4.3 |
|  Jacobs Solutions, Inc. | 2557 | 315917 | 28.1 |
|  JB Hunt Transport Services, Inc. | 2750 | 519888 | 46.3 |
|  Jefferies Financial Group, Inc. | 6584 | 258620 | 23.0 |
|  Johnson & Johnson | 2502 | 408877 | 36.4 |
|  Johnson Controls International PLC | 15689 | 1091484 | 97.2 |
|  Jones Lang LaSalle, Inc. | 11000 | 2033570 | 181.1 |
|  KBR, Inc. | 10478 | 536788 | 47.8 |
|  Kellogg Co. | 36147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2478961 | 220.7 |
|  KeyCorp | 76746 | 1472756 | 131.1 |
|  Keysight Technologies, Inc. | 1924 | 345069 | 30.7 |
|  Kilroy Realty Corp. | 13065 | 536188 | 47.7 |
|  Kimco Realty Corp. | 3278 | 73624 | 6.6 |
|  Kirby Corp. | 1244 | 88050 | 7.8 |
|  Knight-Swift Transportation Holdings, Inc. | 15582 | 920896 | 82.0 |
|  Lam Research Corp. | 1417 | 708642 | 63.1 |
|  Lamar Advertising Co., Class A | 5183 | 552197 | 49.2 |
|  Las Vegas Sands Corp. | 24018 | 1417062 | 126.2 |
|  Lear Corp. | 2409 | 351184 | 31.3 |
|  Leidos Holdings, Inc. | 577 | 57031 | 5.1 |
|  Lennar Corp., Class A | 507 | 51917 | 4.6 |
|  Lennox International, Inc. | 6344 | 1653373 | 147.2 |
|  Liberty Broadband Corp. | 6514 | 584827 | 52.1 |
|  Lincoln National Corp. | 41503 | 1470451 | 130.9 |
|  LKQ Corp. | 3344 | 197162 | 17.6 |
|  Louisiana-Pacific Corp. | 5483 | 373337 | 33.2 |
|  Lowe's Cos., Inc. | 10260 | 2136645 | 190.3 |
|  Lumen Technologies, Inc. | 1821 | 9560 | 0.9 |
|  Lumentum Holdings, Inc. | 15798 | 950724 | 84.7 |
|  Lyft, Inc., Class A | 2460 | 39975 | 3.6 |
|  M&T Bank Corp. | 1195 | 186420 | 16.6 |
|  MACOM Technology Solutions Holdings, Inc. | 9234 | 618863 | 55.1 |
|  Macy's, Inc. | 45826 | 1082868 | 96.4 |
|  Manhattan Associates, Inc. | 14262 | 1859194 | 165.6 |
|  Marathon Oil Corp. | 12573 | 345380 | 30.8 |
|  Marathon Petroleum Corp. | 3008 | 386588 | 34.4 |
|  Marriott International, Inc., Class A | 4518 | 786945 | 70.1 |
|  Marriott Vacations Worldwide Corp. | 737 | 117949 | 10.5 |
|  Marsh & McLennan Cos., Inc. | 19161 | 3351451 | 298.4 |
|  Martin Marietta Materials, Inc. | 991 | 356403 | 31.7 |
|  Masco Corp. | 11895 | 632814 | 56.3 |
|  Masimo Corp. | 527 | 89632 | 8.0 |
|  Matador Resources Co. | 14055 | 929879 | 82.8 |
|  Match Group, Inc. | 7354 | 397998 | 35.4 |
|  MaxLinear, Inc. | 25487 | 1050064 | 93.5 |
|  McCormick & Co., Inc. | 4378 | 328875 | 29.3 |
|  Medical Properties Trust, Inc. | 53792 | 696606 | 62.0 |
|  Meritage Homes Corp. | 2115 | 227764 | 20.3 |
|  Meta Platforms, Inc., Class A | 861 | 128263 | 11.4 |
|  MetLife, Inc. | 6402 | 467474 | 41.6 |
|  Mettler-Toledo International, Inc. | 572 | 876830 | 78.1 |
|  MGIC Investment Corp. | 75376 | 1064309 | 94.8 |
|  MGM Resorts International | 15530 | 643097 | 57.3 |
|  Micron Technology, Inc. | 4687 | 282626 | 25.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Microsoft Corp. | 13579 | $3365012 | 299.6% |
|  Middleby Corp. | 243 | 37774 | 3.4 |
|  Mohawk Industries, Inc. | 25987 | 3119999 | 277.8 |
|  Molson Coors Beverage Co., Class B | 30337 | 1595119 | 142.0 |
|  Mondelez International, Inc., Class A | 3159 | 206725 | 18.4 |
|  Moody's Corp. | 10314 | 3328844 | 296.4 |
|  NetApp, Inc. | 10091 | 668327 | 59.5 |
|  Neurocrine Biosciences, Inc. | 1652 | 183256 | 16.3 |
|  New York Community Bancorp, Inc. | 113931 | 1138171 | 101.3 |
|  Newmont Corp. | 30883 | 1634637 | 145.6 |
|  Nexstar Media Group, Inc., Class A | 81 | 16586 | 1.5 |
|  Nordson Corp. | 1816 | 441833 | 39.3 |
|  Northern Trust Corp. | 9295 | 901336 | 80.3 |
|  Northrop Grumman Corp. | 1671 | 748675 | 66.7 |
|  NRG Energy, Inc. | 44285 | 1515433 | 134.9 |
|  Nucor Corp. | 148 | 25015 | 2.2 |
|  NVIDIA Corp. | 1334 | 260624 | 23.2 |
|  NVR, Inc. | 78 | 411060 | 36.6 |
|  Occidental Petroleum Corp. | 19693 | 1275909 | 113.6 |
|  OneMain Holdings, Inc. | 1046 | 45124 | 4.0 |
|  O'Reilly Automotive, Inc. | 3826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3031531 | 269.9 |
|  Oshkosh Corp. | 682 | 68732 | 6.1 |
|  Otis Worldwide Corp. | 8771 | 721239 | 64.2 |
|  Outfront Media, Inc. | 6771 | 134743 | 12.0 |
|  Ovintiv, Inc. | 12367 | 608827 | 54.2 |
|  Ovintiv, Inc. | 1633 | 80278 | 7.1 |
|  Owens Corning | 9572 | 925134 | 82.4 |
|  PacWest Bancorp | 138527 | 3831657 | 341.2 |
|  Papa John's International, Inc. | 9937 | 891250 | 79.4 |
|  Paramount Global, Class B | 20141 | 466466 | 41.5 |
|  Patterson-UTI Energy, Inc. | 22993 | 386282 | 34.4 |
|  Paycom Software, Inc. | 1127 | 365080 | 32.5 |
|  PDC Energy, Inc. | 4970 | 336618 | 30.0 |
|  Penn Entertainment, Inc. | 8975 | 318164 | 28.3 |
|  Penske Automotive Group, Inc. | 9778 | 1249824 | 111.3 |
|  PerkinElmer, Inc. | 903 | 124190 | 11.1 |
|  Perrigo Co. PLC | 32143 | 1202791 | 107.1 |
|  Petco Health & Wellness Co., Inc., Class A | 8166 | 95461 | 8.5 |
|  Pinnacle Financial Partners, Inc. | 2422 | 190684 | 17.0 |
|  Pinnacle West Capital Corp. | 532 | 39661 | 3.5 |
|  Pinterest, Inc., Class A | 17194 | 452030 | 40.3 |
|  Planet Fitness, Inc., Class A | 1339 | 113346 | 10.1 |
|  Polaris, Inc. | 1051 | 120697 | 10.7 |
|  Portland General Electric Co. | 5883 | 279913 | 24.9 |
|  Post Holdings, Inc. | 5127 | 486809 | 43.3 |
|  PPG Industries, Inc. | 3483 | 453974 | 40.4 |
|  Primo Water Corp. | 23666 | 369962 | 32.9 |
|  Prudential Financial, Inc. | 378 | 39667 | 3.5 |
|  PTC Therapeutics, Inc. | 12548 | 575828 | 51.3 |
|  Public Service Enterprise Group, Inc. | 6553 | 405827 | 36.1 |
|  PulteGroup, Inc. | 27246 | 1550025 | 138.0 |
|  PVH Corp. | 9693 | 871401 | 77.6 |
|  Qorvo, Inc. | 3258 | 354014 | 31.5 |
|  Ralph Lauren Corp., Class A | 37066 | 4590624 | 408.8 |
|  Red Rock Resorts, Inc., Class A | 8229 | 370387 | 33.0 |
|  Reinsurance Group of America, Inc. | 3200 | 485664 | 43.2 |
|  Reliance Steel & Aluminum Co. | 1030 | 234274 | 20.9 |
|  Repligen Corp. | 1144 | 211983 | 18.9 |
|  Republic Services, Inc., Class A | 8264 | 1031512 | 91.9 |
|  ResMed, Inc. | 343 | 78331 | 7.0 |
|  Robert Half International, Inc. | 12545 | 1053278 | 93.8 |
|  ROBLOX Corp., Class A | 19685 | 732479 | 65.2 |

---

41.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Royal Caribbean Cruises Ltd. | 2020 | $131179 | 11.7% |
|  RPM International, Inc. | 13047 | 1173056 | 104.5 |
|  S&P Global, Inc. | 11085 | 4156210 | 370.1 |
|  Saia, Inc. | 143 | 39008 | 3.5 |
|  Salesforce, Inc. | 6792 | 1140852 | 101.6 |
|  Sarepta Therapeutics, Inc. | 6713 | 838924 | 74.7 |
|  SBA Communications Corp., Class A | 1087 | 323415 | 28.8 |
|  Schlumberger Ltd. | 1817 | 103533 | 9.2 |
|  Scotts Miracle-Gro Co. | 12833 | 926414 | 82.5 |
|  Seagen, Inc. | 323 | 45052 | 4.0 |
|  SEI Investments Co. | 2807 | 175241 | 15.6 |
|  ServiceNow, Inc. | 4856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210111 | 196.8 |
|  Sherwin-Williams Co. | 12303 | 2910767 | 259.2 |
|  Silicon Laboratories, Inc. | 4755 | 746107 | 66.4 |
|  Sims Ltd. | 596 | 6471 | 0.6 |
|  Sirius XM Holdings, Inc. | 41264 | 238919 | 21.3 |
|  SiteOne Landscape Supply, Inc. | 2244 | 339988 | 30.3 |
|  Snap, Inc., Class A | 97379 | 1125701 | 100.2 |
|  Snap-on, Inc. | 129 | 32086 | 2.9 |
|  Southwest Airlines Co. | 7891 | 282261 | 25.1 |
|  Spire, Inc. | 1220 | 88108 | 7.8 |
|  Stifel Financial Corp. | 13433 | 905519 | 80.6 |
|  Synchrony Financial | 460 | 16896 | 1.5 |
|  Syneos Health, Inc. | 26492 | 951593 | 84.7 |
|  Synopsys, Inc. | 2090 | 739338 | 65.8 |
|  Synovus Financial Corp. | 11533 | 483809 | 43.1 |
|  T Rowe Price Group, Inc. | 2806 | 326815 | 29.1 |
|  Take-Two Interactive Software, Inc. | 6320 | 715614 | 63.7 |
|  Tapestry, Inc. | 18355 | 836437 | 74.5 |
|  Target Corp. | 1637 | 281793 | 25.1 |
|  TD SYNNEX Corp. | 12328 | 1259305 | 112.1 |
|  Teleflex, Inc. | 1953 | 475399 | 42.3 |
|  Tempur Sealy International, Inc. | 1487 | 60595 | 5.4 |
|  Teradata Corp. | 40929 | 1427604 | 127.1 |
|  Tetra Tech, Inc. | 1028 | 159875 | 14.2 |
|  Texas Instruments, Inc. | 504 | 89314 | 8.0 |
|  Textron, Inc. | 20319 | 1480239 | 131.8 |
|  Thermo Fisher Scientific, Inc. | 81 | 46197 | 4.1 |
|  Timken Co. | 4521 | 372304 | 33.2 |
|  Toll Brothers, Inc. | 27355 | 1627349 | 144.9 |
|  TopBuild Corp. | 2484 | 496949 | 44.3 |
|  Toro Co. | 4415 | 492361 | 43.8 |
|  Tractor Supply Co. | 3200 | 729568 | 65.0 |
|  Transocean Ltd. | 5171 | 34853 | 3.1 |
|  Travel & Leisure Co. | 15960 | 676225 | 60.2 |
|  Trex Co., Inc. | 9519 | 501842 | 44.7 |
|  Trimble, Inc. | 7902 | 458790 | 40.9 |
|  Tyler Technologies, Inc. | 401 | 129431 | 11.5 |
|  U.S. Bancorp | 16499 | 821650 | 73.2 |
|  U.S. Steel Corp. | 57321 | 1633075 | 145.4 |
|  UGI Corp. | 4121 | 164139 | 14.6 |
|  Umpqua Holdings Corp. | 9038 | 164492 | 14.6 |
|  Under Armour, Inc., Class A | 15993 | 198153 | 17.6 |
|  Union Pacific Corp. | 3201 | 653612 | 58.2 |
|  United Parcel Service, Inc., Class B | 10891 | 2017340 | 179.6 |
|  United Therapeutics Corp. | 850 | 223695 | 19.9 |
|  Vail Resorts, Inc. | 6613 | 1734854 | 154.5 |
|  Veeva Systems, Inc., Class A | 7315 | 1247573 | 111.1 |
|  VeriSign, Inc. | 4136 | 901855 | 80.3 |
|  Verisk Analytics, Inc., Class A | 5622 | 1022023 | 91.0 |
|  Verizon Communications, Inc. | 1987 | 82600 | 7.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Vertex Pharmaceuticals, Inc. | 1435 | $463649 | 41.3% |
|  VF Corp. | 32443 | 1003786 | 89.4 |
|  Virtu Financial, Inc., Class A | 8796 | 169851 | 15.1 |
|  Visa, Inc., Class A | 10076 | 2319596 | 206.6 |
|  Visteon Corp. | 4064 | 635366 | 56.6 |
|  Vistra Corp. | 157522 | 3632457 | 323.5 |
|  Vitesse Energy, Inc. | 3006 | 47976 | 4.3 |
|  Vulcan Materials Co. | 3325 | 609572 | 54.3 |
|  Walmart, Inc. | 957 | 137684 | 12.3 |
|  Waste Management, Inc. | 9192 | 1422278 | 126.6 |
|  Waters Corp. | 2328 | 764934 | 68.1 |
|  Watsco, Inc. | 5404 | 1552947 | 138.3 |
|  Wells Fargo & Co. | 53945 | 2528402 | 225.1 |
|  West Pharmaceutical Services, Inc. | 9162 | 2433427 | 216.7 |
|  Western Digital Corp. | 1256 | 55201 | 4.9 |
|  Westrock Co. | 13685 | 536999 | 47.8 |
|  Weyerhaeuser Co. | 25181 | 866982 | 77.2 |
|  Whirlpool Corp. | 9356 | 1455700 | 129.6 |
|  Williams-Sonoma, Inc. | 398 | 53706 | 4.8 |
|  Wintrust Financial Corp. | 841 | 76926 | 6.9 |
|  Wynn Resorts Ltd. | 3117 | 323046 | 28.8 |
|  Xylem, Inc. | 5987 | 622708 | 55.4 |
|  YETI Holdings, Inc. | 2595 | 116152 | 10.3 |
|  Yum! Brands, Inc. | 9860 | 1286829 | 114.6 |
|  Zillow Group, Inc., Class C | 3733 | 165036 | 14.7 |
|  Zions Bancorp NA | 410 | 21796 | 1.9 |
|  Zoetis, Inc. | 2113 | 349680 | 31.1 |
|  Zurn Elkay Water Solutions Corp. | 18934 | 413897 | 36.9 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;308016129 |  |
| **Preferred Stocks** |  |  |  |
|  **Germany** |  |  |  |
|  Bayerische Motoren Werke AG | 1778 | 168445 | 15.0 |
|  Fuchs Petrolub SE | 14515 | 579067 | 51.6 |
|  Porsche Automobil Holding SE | 2612 | 156189 | 13.9 |
|  |  | 903701 |  |
| **Warrants** |  |  |  |
| **Australia** |  |  |  |
|  Magellan Financial Group Ltd.,<br>(Issued/Exercisable 04/14/22, 1 Share for 1 Warrant, Expires 04/16/27, Strike Price AUD 35.00) | 464 | 87 | 0.0 |
|  **Total Reference Entity — Long** | **Total Reference Entity — Long** | 551940238 |  |
|  **Reference Entity — Short** | **Reference Entity — Short** | **Reference Entity — Short** | **Reference Entity — Short** |
| **Common Stocks** | **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia** |  |  |  |
|  ALS Ltd. | (80143) | (743564) | (66.2) |
|  Ampol Ltd. | (15524) | (336652) | (30.0) |
|  APA Group | (15823) | (118418) | (10.5) |
|  Beach Energy Ltd. | (779262) | (837384) | (74.6) |
|  BlueScope Steel Ltd. | (3841) | (52378) | (4.7) |
|  carsales.com Ltd. | (63778) | (1032581) | (91.9) |
|  Cleanaway Waste Management Ltd. | (461551) | (894326) | (79.6) |
|  Cochlear Ltd. | (519) | (78409) | (7.0) |
|  EBOS Group Ltd. | (22374) | (623716) | (55.5) |
|  Evolution Mining Ltd. | (115937) | (263456) | (23.5) |
|  IGO Ltd. | (21313) | (221554) | (19.7) |
|  Incitec Pivot Ltd. | (56741) | (138744) | (12.3) |
|  JB Hi-Fi Ltd. | (193420) | (6650261) | (592.2) |

---

S C H E D U L E O F I N V E S T M E N T S 42

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Australia (continued)** |  |  |  |
|  Lendlease Corp. Ltd. | (47854) | $(292211) | (26.0)% |
|  Lottery Corp. Ltd. | (25318) | (84439) | (7.5) |
|  Lynas Rare Earths Ltd. | (21826) | (146106) | (13.0) |
|  Newcrest Mining Ltd. | (13589) | (215700) | (19.2) |
|  NEXTDC Ltd. | (10992) | (77681) | (6.9) |
|  Northern Star Resources Ltd. | (120359) | (1072461) | (95.5) |
|  Nufarm Ltd. | (4571) | (19234) | (1.7) |
|  Orica Ltd. | (1692) | (17755) | (1.6) |
|  Ramsay Health Care Ltd. | (24640) | (1164331) | (103.7) |
|  Reece Ltd. | (138408) | (1590847) | (141.7) |
|  Scentre Group | (7182) | (15462) | (1.4) |
|  Seven Group Holdings Ltd. | (105995) | (1705961) | (151.9) |
|  Tabcorp Holdings Ltd. | (3365836) | (2503489) | (222.9) |
|  TPG Telecom Ltd. | (51509) | (176150) | (15.7) |
|  Vicinity Ltd. | (255732) | (374146) | (33.3) |
|  Wesfarmers Ltd. | (164828) | (5811291) | (517.5) |
|  Woodside Energy Group Ltd. | (168345) | (4359104) | (388.2) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(31617811) |  |
| **Austria** |  |  |  |
|  OMV AG | (19438) | (973654) | (86.7) |
|  Voestalpine AG | (10326) | (343098) | (30.6) |
|  |  | (1316752) |  |
| **Belgium** |  |  |  |
|  Elia Group SA | (9906) | (1390984) | (123.9) |
|  Galapagos NV | (3057) | (135298) | (12.0) |
|  Proximus SADP | (49735) | (509640) | (45.4) |
|  UCB SA | (5075) | (416681) | (37.1) |
|  |  | (2452603) |  |
| **Bermuda** |  |  |  |
|  Arch Capital Group Ltd. | (8279) | (532754) | (47.4) |
|  RenaissanceRe Holdings Ltd. | (783) | (153225) | (13.7) |
|  Triton International Ltd. | (21703) | (1533100) | (136.5) |
|  |  | (2219079) |  |
| **Brazil** |  |  |  |
|  MercadoLibre, Inc. | (1884) | (2226304) | (198.2) |
|  Yara International ASA | (6087) | (270453) | (24.1) |
|  |  | (2496757) |  |
| **Canada** |  |  |  |
|  Air Canada | (108506) | (1841393) | (164.0) |
|  Alimentation Couche-Tard, Inc. | (18562) | (847640) | (75.5) |
|  Atco Ltd., Class I | (39059) | (1242913) | (110.7) |
|  ATS Corp. | (63) | (2551) | (0.2) |
|  Boyd Group Services, Inc. | (6756) | (1033190) | (92.0) |
|  Brookfield Corp., Class A | (5666) | (210790) | (18.8) |
|  Canadian Apartment Properties REIT | (44536) | (1646816) | (146.6) |
|  Canadian National Railway Co. | (2269) | (270087) | (24.0) |
|  Canadian Solar, Inc. | (1041) | (43795) | (3.9) |
|  Canadian Tire Corp. Ltd., Class A | (18012) | (2141594) | (190.7) |
|  Canadian Utilities Ltd., Class A | (19238) | (534682) | (47.6) |
|  CCL Industries, Inc., Class B | (16001) | (748369) | (66.6) |
|  Dream Industrial Real Estate Investment Trust | (99904) | (1051186) | (93.6) |
|  Fairfax Financial Holdings Ltd. | (533) | (352864) | (31.4) |
|  Finning International, Inc. | (45429) | (1281729) | (114.1) |
|  George Weston Ltd. | (6589) | (847649) | (75.5) |
|  iA Financial Corp., Inc. | (17387) | (1073236) | (95.6) |
|  IGM Financial, Inc. | (819) | (25563) | (2.3) |
|  Intact Financial Corp. | (4305) | (624549) | (55.6) |
|  Loblaw Cos. Ltd. | (20864) | (1869144) | (166.4) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Canada (continued)** |  |  |  |
|  Metro, Inc. | (15349) | $(833118) | (74.2)% |
|  Nuvei Corp. | (28997) | (1023629) | (91.1) |
|  Onex Corp. | (21558) | (1114234) | (99.2) |
|  Parkland Corp. | (77672) | (1824829) | (162.5) |
|  Peyto Exploration & Development Corp. | (1857) | (16929) | (1.5) |
|  Quebecor, Inc., Class B | (24366) | (577950) | (51.5) |
|  Saputo, Inc. | (34803) | (959433) | (85.4) |
|  SNC-Lavalin Group, Inc. | (8088) | (173547) | (15.5) |
|  Tamarack Valley Energy Ltd. | (753813) | (2730735) | (243.2) |
|  Thomson Reuters Corp. | (4782) | (568859) | (50.7) |
|  Toromont Industries Ltd. | (18333) | (1464518) | (130.4) |
|  WSP Global, Inc. | (5064) | (645793) | (57.5) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29623314) |  |
| **China** |  |  |  |
|  Futu Holdings Ltd., ADR | (7019) | (356284) | (31.7) |
| **Denmark** |  |  |  |
|  Ambu A/S, Class B | (6856) | (94704) | (8.4) |
|  AP Moller - Maersk A/S, Class B | (165) | (358923) | (32.0) |
|  Danske Bank A/S | (94005) | (1958459) | (174.4) |
|  DSV A/S | (1742) | (288179) | (25.7) |
|  FLSmidth & Co. A/S | (703) | (30020) | (2.7) |
|  ISS A/S | (6845) | (149657) | (13.3) |
|  Novo Nordisk A/S, Class B | (322) | (44375) | (3.9) |
|  Orsted A/S | (12388) | (1103176) | (98.2) |
|  Tryg A/S | (15245) | (349844) | (31.1) |
|  Vestas Wind Systems A/S | (10772) | (315206) | (28.1) |
|  |  | (4692543) |  |
| **Finland** |  |  |  |
|  Elisa OYJ | (10773) | (613771) | (54.6) |
|  Fortum OYJ | (25923) | (389681) | (34.7) |
|  Kesko OYJ, B Shares | (30324) | (706352) | (62.9) |
|  Kojamo OYJ | (7813) | (119966) | (10.7) |
|  Nordea Bank Abp | (107871) | (1261053) | (112.3) |
|  UPM-Kymmene OYJ | (68960) | (2499539) | (222.6) |
|  |  | (5590362) |  |
| **France** |  |  |  |
|  Constellium SE, Class A | (3846) | (55883) | (5.0) |
|  Unibail-Rodamco-Westfield | (6922) | (447959) | (39.9) |
|  |  | (503842) |  |
| **Germany** |  |  |  |
|  Aurubis AG | (1027) | (108612) | (9.7) |
|  Bayer AG, Registered Shares | (9428) | (586845) | (52.3) |
|  Bechtle AG | (17751) | (748040) | (66.6) |
|  Continental AG | (1215) | (85311) | (7.6) |
|  CTS Eventim AG & Co. KGaA | (2363) | (165875) | (14.8) |
|  Deutsche Boerse AG | (9390) | (1680268) | (149.6) |
|  Deutsche Post AG, Registered Shares | (3565) | (153497) | (13.7) |
|  Deutsche Wohnen SE | (9897) | (233761) | (20.8) |
|  Evotec SE | (9608) | (188923) | (16.8) |
|  Fresenius SE & Co. KGaA | (42865) | (1242264) | (110.6) |
|  GEA Group AG | (13669) | (616744) | (54.9) |
|  Gerresheimer AG | (2427) | (179487) | (16.0) |
|  Hella GmbH & Co. KGaA | (3254) | (273905) | (24.4) |
|  HelloFresh SE | (2817) | (68485) | (6.1) |
|  HOCHTIEF AG | (218) | (13821) | (1.2) |
|  HUGO BOSS AG | (3804) | (258330) | (23.0) |
|  Infineon Technologies AG | (1779) | (64063) | (5.7) |
|  KION Group AG | (3590) | (144556) | (12.9) |

---

43.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Germany (continued)** |  |  |  |
|  MTU Aero Engines AG | (629) | $(157195) | (14.0)% |
|  Muenchener Rueckversicherungs-Gesellschaft |  |  |  |
|  AG in Muenchen, Registered Shares | (511) | (184577) | (16.4) |
|  Rational AG | (320) | (210491) | (18.7) |
|  Siemens Healthineers AG | (8745) | (468983) | (41.8) |
|  Vonovia SE | (26926) | (760603) | (67.7) |
|  Zalando SE | (610) | (28244) | (2.5) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8622880) |  |
| **Hong Kong** |  |  |  |
|  Vitasoy International Holdings Ltd. | (68000) | (144462) | (12.9) |
| **Ireland** |  |  |  |
|  AerCap Holdings NV | (18630) | (1177602) | (104.8) |
|  Allegion PLC | (2112) | (248266) | (22.1) |
|  DCC PLC | (28390) | (1617035) | (144.0) |
|  ICON PLC, ADR | (355) | (81902) | (7.3) |
|  Jazz Pharmaceuticals PLC | (2960) | (463714) | (41.3) |
|  Smurfit Kappa Group PLC | (15620) | (655798) | (58.4) |
|  |  | (4244317) |  |
| **Israel** |  |  |  |
|  Ashtrom Group Ltd. | (40084) | (758982) | (67.6) |
|  Fattal Holdings 1998 Ltd. | (566) | (54750) | (4.9) |
|  Fox Wizel Ltd. | (644) | (58246) | (5.2) |
|  Global-e Online Ltd. | (8936) | (267812) | (23.8) |
|  Maytronics Ltd. | (40210) | (490147) | (43.6) |
|  Mobileye Global, Inc., Class A | (40631) | (1568357) | (139.7) |
|  Monday.com Ltd. | (2212) | (287980) | (25.6) |
|  Shikun & Binui Ltd. | (5539) | (16236) | (1.4) |
|  SolarEdge Technologies, Inc. | (1537) | (490503) | (43.7) |
|  Teva Pharmaceutical Industries Ltd., ADR | (1784) | (18803) | (1.7) |
|  |  | (4011816) |  |
| **Italy** |  |  |  |
|  Assicurazioni Generali SpA | (69294) | (1352709) | (120.5) |
|  DiaSorin SpA | (2219) | (288869) | (25.7) |
|  Eni SpA | (66136) | (1017716) | (90.6) |
|  Ferrari NV | (783) | (194849) | (17.3) |
|  Interpump Group SpA | (9970) | (519934) | (46.3) |
|  Leonardo SpA | (16539) | (170321) | (15.2) |
|  Nexi SpA | (3675) | (32367) | (2.9) |
|  Poste Italiane SpA | (6810) | (72758) | (6.5) |
|  |  | (3649523) |  |
| **Japan** |  |  |  |
|  Activia Properties, Inc. | (95) | (284492) | (25.3) |
|  Advance Residence Investment Corp. | (58) | (141680) | (12.6) |
|  Ajinomoto Co., Inc. | (3300) | (108796) | (9.7) |
|  Alps Alpine Co. Ltd. | (11000) | (112706) | (10.0) |
|  Amada Co. Ltd. | (4300) | (38387) | (3.4) |
|  Asics Corp. | (2300) | (54741) | (4.9) |
|  Bandai Namco Holdings, Inc. | (10800) | (722236) | (64.3) |
|  Bank of Kyoto Ltd. | (500) | (23264) | (2.1) |
|  BayCurrent Consulting, Inc. | (11300) | (480358) | (42.8) |
|  Benefit One, Inc. | (15800) | (260780) | (23.2) |
|  BIPROGY, Inc. | (7000) | (182887) | (16.3) |
|  Calbee, Inc. | (9900) | (223583) | (19.9) |
|  Capcom Co. Ltd. | (3300) | (106933) | (9.5) |
|  Casio Computer Co. Ltd. | (9400) | (97170) | (8.7) |
|  Central Japan Railway Co. | (100) | (12197) | (1.1) |
|  Chiba Bank Ltd. | (41700) | (315519) | (28.1) |
|  Credit Saison Co. Ltd. | (25400) | (332777) | (29.6) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Daido Steel Co. Ltd. | (6600) | $(249547) | (22.2)% |
|  Daifuku Co. Ltd. | (300) | (16519) | (1.5) |
|  Daito Trust Construction Co. Ltd. | (3600) | (355747) | (31.7) |
|  Daiwa House REIT Investment Corp. | (89) | (193640) | (17.2) |
|  Daiwa Office Investment Corp. | (19) | (89471) | (8.0) |
|  Daiwa Securities Living Investments Corp. | (102) | (85344) | (7.6) |
|  Descente Ltd. | (8300) | (229922) | (20.5) |
|  Disco Corp. | (1200) | (360519) | (32.1) |
|  East Japan Railway Co. | (1900) | (105941) | (9.4) |
|  Electric Power Development Co. Ltd. | (26900) | (434126) | (38.7) |
|  ENEOS Holdings, Inc. | (141000) | (504808) | (44.9) |
|  Fancl Corp. | (3000) | (60922) | (5.4) |
|  FP Corp. | (11100) | (301639) | (26.9) |
|  Fuji Electric Co. Ltd. | (8000) | (323824) | (28.8) |
|  Fuji Kyuko Co. Ltd. | (24900) | (874752) | (77.9) |
|  Fujitsu General Ltd. | (9600) | (271353) | (24.2) |
|  Fukuoka Financial Group, Inc. | (18000) | (415289) | (37.0) |
|  Furukawa Electric Co. Ltd. | (15500) | (300830) | (26.8) |
|  Fuyo General Lease Co. Ltd. | (2900) | (199310) | (17.7) |
|  GLP J-Reit | (78) | (88262) | (7.9) |
|  Goldwin, Inc. | (5200) | (396148) | (35.3) |
|  GS Yuasa Corp. | (5400) | (94495) | (8.4) |
|  GungHo Online Entertainment, Inc. | (1000) | (16665) | (1.5) |
|  Hakuhodo DY Holdings, Inc. | (31600) | (341512) | (30.4) |
|  Haseko Corp. | (2200) | (25386) | (2.3) |
|  Heiwa Corp. | (18900) | (342922) | (30.5) |
|  Hikari Tsushin, Inc. | (1500) | (214107) | (19.1) |
|  Hisamitsu Pharmaceutical Co., Inc. | (1900) | (59166) | (5.3) |
|  Hitachi Construction Machinery Co. Ltd. | (4100) | (96692) | (8.6) |
|  Hoshizaki Corp. | (10000) | (359463) | (32.0) |
|  Hoya Corp. | (1700) | (186952) | (16.6) |
|  Ibiden Co. Ltd. | (19200) | (749355) | (66.7) |
|  Idemitsu Kosan Co. Ltd. | (47000) | (1175036) | (104.6) |
|  Iida Group Holdings Co. Ltd. | (30800) | (513450) | (45.7) |
|  Industrial & Infrastructure Fund Investment Corp. | (72) | (79793) | (7.1) |
|  Inpex Corp. | (32800) | (360427) | (32.1) |
|  Isuzu Motors Ltd. | (122700) | (1551583) | (138.2) |
|  Itoham Yonekyu Holdings, Inc. | (3200) | (17569) | (1.6) |
|  Iwatani Corp. | (32100) | (1383548) | (123.2) |
|  Iyogin Holdings, Inc. | (20000) | (112876) | (10.0) |
|  Izumi Co. Ltd. | (12100) | (273965) | (24.4) |
|  Japan Airport Terminal Co. Ltd. | (3000) | (156373) | (13.9) |
|  Japan Aviation Electronics Industry Ltd. | (43200) | (742165) | (66.1) |
|  Japan Hotel REIT Investment Corp. | (822) | (520890) | (46.4) |
|  Japan Logistics Fund, Inc. | (36) | (82089) | (7.3) |
|  Japan Metropolitan Fund Invest | (59) | (45612) | (4.1) |
|  Japan Post Insurance Co. Ltd. | (83900) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1496773) | (133.3) |
|  Japan Real Estate Investment Corp. | (134) | (574524) | (51.2) |
|  JCR Pharmaceuticals Co. Ltd. | (5500) | (67861) | (6.0) |
|  Justsystems Corp. | (24000) | (597714) | (53.2) |
|  Kagome Co. Ltd. | (6200) | (151431) | (13.5) |
|  Kajima Corp. | (12400) | (152288) | (13.6) |
|  Kansai Electric Power Co., Inc. | (7400) | (71166) | (6.3) |
|  Kansai Paint Co. Ltd. | (2600) | (36616) | (3.3) |
|  Katitas Co. Ltd. | (800) | (19616) | (1.7) |
|  Kawasaki Heavy Industries Ltd. | (2300) | (52630) | (4.7) |
|  Keikyu Corp. | (1600) | (16580) | (1.5) |
|  Keyence Corp. | (1600) | (736590) | (65.6) |
|  Kikkoman Corp. | (54900) | (2903776) | (258.6) |
|  Kintetsu Group Holdings Co. Ltd. | (8100) | (263776) | (23.5) |
|  Kobayashi Pharmaceutical Co. Ltd. | (3700) | (265631) | (23.7) |

---

S C H E D U L E O F I N V E S T M E N T S 44

------

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| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Kobe Steel Ltd. | (120600) | $(649736) | (57.9)% |
|  Komatsu Ltd. | (3000) | (73723) | (6.6) |
|  Kotobuki Spirits Co. Ltd. | (7900) | (518902) | (46.2) |
|  Kurita Water Industries Ltd. | (5400) | (244179) | (21.7) |
|  Kyudenko Corp. | (13300) | (344731) | (30.7) |
|  Kyushu Electric Power Co., Inc. | (17800) | (102468) | (9.1) |
|  Kyushu Financial Group, Inc. | (8900) | (32712) | (2.9) |
|  Kyushu Railway Co. | (4400) | (98633) | (8.8) |
|  LaSalle Logiport REIT | (35) | (42406) | (3.8) |
|  Lasertec Corp. | (2300) | (435443) | (38.8) |
|  Makita Corp. | (58400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1555591) | (138.5) |
|  Marubeni Corp. | (80900) | (992528) | (88.4) |
|  Marui Group Co. Ltd. | (6700) | (114172) | (10.2) |
|  MatsukiyoCocokara & Co. | (700) | (34794) | (3.1) |
|  Mazda Motor Corp. | (4900) | (39004) | (3.5) |
|  Mebuki Financial Group, Inc. | (80600) | (209948) | (18.7) |
|  Menicon Co. Ltd. | (1600) | (35355) | (3.1) |
|  Mitsubishi Corp. | (3200) | (107155) | (9.5) |
|  Mitsui & Co. Ltd. | (18600) | (548751) | (48.9) |
|  Mitsui Fudosan Logistics Park, Inc. | (161) | (561900) | (50.0) |
|  Mitsui OSK Lines Ltd. | (4700) | (116648) | (10.4) |
|  Miura Co. Ltd. | (6900) | (172661) | (15.4) |
|  MonotaRO Co. Ltd. | (27100) | (410520) | (36.6) |
|  Mori Hills REIT Investment Corp. | (79) | (89771) | (8.0) |
|  Morinaga & Co. Ltd. | (7000) | (207556) | (18.5) |
|  Murata Manufacturing Co. Ltd. | (1600) | (91425) | (8.1) |
|  Nagase & Co. Ltd. | (13000) | (209786) | (18.7) |
|  Nextage Co. Ltd. | (8200) | (184444) | (16.4) |
|  NHK Spring Co. Ltd. | (42400) | (299707) | (26.7) |
|  Nifco, Inc. | (9100) | (236206) | (21.0) |
|  Nihon Kohden Corp. | (3300) | (86694) | (7.7) |
|  Nikon Corp. | (3900) | (38506) | (3.4) |
|  Nintendo Co. Ltd. | (7100) | (307840) | (27.4) |
|  Nippon Accommodations Fund, Inc. | (5) | (22442) | (2.0) |
|  Nippon Building Fund, Inc. | (126) | (550666) | (49.0) |
|  Nippon Kayaku Co. Ltd. | (97000) | (900757) | (80.2) |
|  Nippon Paint Holdings Co. Ltd. | (23100) | (210891) | (18.8) |
|  Nippon Sanso Holdings Corp. | (21700) | (353946) | (31.5) |
|  Nippon Shokubai Co. Ltd. | (600) | (25401) | (2.3) |
|  Nippon Yusen KK | (34400) | (818336) | (72.9) |
|  Nishi-Nippon Railroad Co. Ltd. | (2300) | (42475) | (3.8) |
|  Nisshin Seifun Group, Inc. | (10900) | (136528) | (12.2) |
|  Nitori Holdings Co. Ltd. | (1800) | (238240) | (21.2) |
|  NOF Corp. | (4600) | (195947) | (17.4) |
|  NOK Corp. | (23200) | (220338) | (19.6) |
|  Nomura Holdings, Inc. | (238800) | (953010) | (84.9) |
|  OKUMA Corp. | (5200) | (210772) | (18.8) |
|  Open House Co. Ltd. | (13500) | (510709) | (45.5) |
|  ORIX Corp. | (4600) | (80882) | (7.2) |
|  OSG Corp. | (13100) | (205603) | (18.3) |
|  Pan Pacific International Holdings Corp. | (35600) | (658355) | (58.6) |
|  Park24 Co. Ltd. | (26300) | (446067) | (39.7) |
|  PeptiDream, Inc. | (10600) | (165502) | (14.7) |
|  Persol Holdings Co. Ltd. | (8000) | (175404) | (15.6) |
|  Rakus Co. Ltd. | (26400) | (361801) | (32.2) |
|  Relo Group, Inc. | (43000) | (728695) | (64.9) |
|  Renesas Electronics Corp. | (43700) | (449503) | (40.0) |
|  Rengo Co. Ltd. | (48400) | (341607) | (30.4) |
|  Resonac Holdings Corp. | (48400) | (827184) | (73.7) |
|  Rinnai Corp. | (900) | (71037) | (6.3) |
|  Rohto Pharmaceutical Co. Ltd. | (14600) | (269391) | (24.0) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Sankyu, Inc. | (2000) | $(78584) | (7.0)% |
|  Sanwa Holdings Corp. | (14100) | (149268) | (13.3) |
|  Seiko Epson Corp. | (25700) | (398556) | (35.5) |
|  Sekisui Chemical Co. Ltd. | (5700) | (79847) | (7.1) |
|  Sekisui House REIT, Inc. | (45) | (24600) | (2.2) |
|  Seven & i Holdings Co. Ltd. | (22300) | (1052848) | (93.8) |
|  SG Holdings Co. Ltd. | (7900) | (121907) | (10.9) |
|  SHIFT, Inc. | (900) | (167972) | (15.0) |
|  Shikoku Electric Power Co., Inc. | (14600) | (84413) | (7.5) |
|  Shin-Etsu Chemical Co. Ltd. | (3900) | (574950) | (51.2) |
|  Shinko Electric Industries Co. Ltd. | (26200) | (737163) | (65.6) |
|  Ship Healthcare Holdings, Inc. | (1300) | (25242) | (2.2) |
|  Shizuoka Financial Group, Inc. | (2600) | (22026) | (2.0) |
|  Shochiku Co. Ltd. | (400) | (34105) | (3.0) |
|  SMS Co. Ltd. | (800) | (21044) | (1.9) |
|  Sojitz Corp. | (4900) | (97149) | (8.6) |
|  Sony Group Corp. | (8700) | (777358) | (69.2) |
|  Sotetsu Holdings, Inc. | (8100) | (138476) | (12.3) |
|  Square Enix Holdings Co. Ltd. | (5400) | (255373) | (22.7) |
|  Stanley Electric Co. Ltd. | (6700) | (144192) | (12.8) |
|  SUMCO Corp. | (31400) | (465246) | (41.4) |
|  Suzuken Co. Ltd./Aichi Japan | (2600) | (68479) | (6.1) |
|  Suzuki Motor Corp. | (1200) | (44991) | (4.0) |
|  Taiheiyo Cement Corp. | (53600) | (923711) | (82.3) |
|  Taiyo Yuden Co. Ltd. | (28800) | (978207) | (87.1) |
|  Takara Holdings, Inc. | (44400) | (360800) | (32.1) |
|  Takashimaya Co. Ltd. | (16500) | (230526) | (20.5) |
|  Takeda Pharmaceutical Co. Ltd. | (25300) | (795365) | (70.8) |
|  Toho Gas Co. Ltd. | (3400) | (66680) | (5.9) |
|  Tokai Carbon Co. Ltd. | (68600) | (591856) | (52.7) |
|  Tokyo Electric Power Co. Holdings, Inc. | (203500) | (762065) | (67.9) |
|  Tokyo Gas Co. Ltd. | (26000) | (544432) | (48.5) |
|  Toshiba TEC Corp. | (1200) | (34147) | (3.0) |
|  Toyo Suisan Kaisha Ltd. | (3500) | (144623) | (12.9) |
|  Toyota Industries Corp. | (3000) | (182618) | (16.3) |
|  Toyota Tsusho Corp. | (15500) | (656303) | (58.4) |
|  United Urban Investment Corp. | (284) | (323164) | (28.8) |
|  Visional, Inc. | (3700) | (268096) | (23.9) |
|  West Japan Railway Co. | (8500) | (355967) | (31.7) |
|  Yamaha Corp. | (8100) | (314961) | (28.0) |
|  Yamato Holdings Co. Ltd. | (51600) | (902842) | (80.4) |
|  Yokogawa Electric Corp. | (17300) | (303781) | (27.0) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(59934799) |  |
| **Jersey** |  |  |  |
|  Novocure Ltd. | (3208) | (292505) | (26.0) |
| **Luxembourg** |  |  |  |
|  APERAM SA | (1831) | (72258) | (6.4) |
|  Aroundtown SA | (139764) | (389131) | (34.7) |
|  Tenaris SA | (59887) | (1061242) | (94.5) |
|  |  | (1522631) |  |
| **Netherlands** |  |  |  |
|  Aegon NV | (11146) | (61479) | (5.5) |
|  Alfen NV | (4355) | (404049) | (36.0) |
|  ASM International NV | (1353) | (457593) | (40.7) |
|  BE Semiconductor Industries NV | (3734) | (267079) | (23.8) |
|  IMCD NV | (2987) | (473534) | (42.2) |
|  ING Groep NV | (13294) | (191526) | (17.0) |
|  Koninklijke Ahold Delhaize NV | (5351) | (159711) | (14.2) |
|  NXP Semiconductors NV | (773) | (142472) | (12.7) |

---

45.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** | **Netherlands (continued)** |
|  SBM Offshore NV | (23381) | $(367574) | (32.7)% |
|  Stellantis NV | (101266) | (1592002) | (141.8) |
|  Universal Music Group NV | (15013) | (383768) | (34.2) |
|  |  | (4500787) |  |
| **New Zealand** | **New Zealand** | **New Zealand** | **New Zealand** |
|  Auckland International Airport Ltd. | (439414) | (2418331) | (215.3) |
|  Fisher & Paykel Healthcare Corp. Ltd. | (155059) | (2544702) | (226.6) |
|  Mainfreight Ltd. | (28722) | (1329395) | (118.4) |
|  Mercury NZ Ltd. | (128114) | (497716) | (44.3) |
|  Meridian Energy Ltd. | (91156) | (315054) | (28.1) |
|  Spark New Zealand Ltd. | (575842) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1941586) | (172.9) |
|  |  | (9046784) |  |
| **Norway** | **Norway** | **Norway** | **Norway** |
|  Adevinta ASA | (13799) | (118297) | (10.5) |
|  Aker ASA, A Shares | (796) | (57557) | (5.1) |
|  DNB Bank ASA | (2500) | (46573) | (4.2) |
|  Leroy Seafood Group ASA | (3726) | (21942) | (2.0) |
|  Mowi ASA | (8099) | (149764) | (13.3) |
|  Norsk Hydro ASA | (50870) | (412446) | (36.7) |
|  Orkla ASA | (42778) | (319368) | (28.4) |
|  Salmar ASA | (16972) | (789192) | (70.3) |
|  Schibsted ASA, Class A | (14433) | (315200) | (28.1) |
|  Storebrand ASA | (52425) | (456389) | (40.7) |
|  Telenor ASA | (1415) | (14813) | (1.3) |
|  |  | (2701541) |  |
| **Portugal** | **Portugal** | **Portugal** | **Portugal** |
|  Banco Comercial Portugues SA | (2045480) | (435787) | (38.8) |
|  Galp Energia SGPS SA | (99886) | (1367244) | (121.8) |
|  |  | (1803031) |  |
| **Singapore** | **Singapore** | **Singapore** | **Singapore** |
|  Ascendas Real Estate Investment Trust | (576500) | (1268663) | (113.0) |
|  Genting Singapore Ltd. | (841000) | (636939) | (56.7) |
|  Grab Holdings Ltd., Class A | (261873) | (992499) | (88.4) |
|  Jardine Cycle & Carriage Ltd. | (2900) | (64292) | (5.7) |
|  Kenon Holdings Ltd. | (1997) | (62234) | (5.5) |
|  Keppel DC REIT | (379300) | (591201) | (52.6) |
|  Sea Ltd., ADR | (11799) | (760445) | (67.7) |
|  Singapore Exchange Ltd. | (18100) | (127488) | (11.4) |
|  Singapore Technologies Engineering Ltd. | (62700) | (176283) | (15.7) |
|  Singapore Telecommunications Ltd. | (24200) | (46347) | (4.1) |
|  UOL Group Ltd. | (86200) | (459926) | (41.0) |
|  Venture Corp. Ltd. | (87100) | (1229970) | (109.5) |
|  |  | (6416287) |  |
| **South Africa** | **South Africa** | **South Africa** | **South Africa** |
|  Investec PLC | (36598) | (233540) | (20.8) |
| **Spain** | **Spain** | **Spain** | **Spain** |
|  Acerinox SA | (5657) | (61265) | (5.5) |
|  Amadeus IT Group SA | (4073) | (255493) | (22.7) |
|  Banco Santander SA | (128643) | (449600) | (40.0) |
|  Cellnex Telecom SA | (913) | (35779) | (3.2) |
|  Corp. ACCIONA Energias Renovables SA | (7844) | (320773) | (28.6) |
|  Ferrovial SA | (6721) | (197574) | (17.6) |
|  Naturgy Energy Group SA | (10931) | (310027) | (27.6) |
|  Red Electrica Corp. SA | (16171) | (286209) | (25.5) |
|  |  | (1916720) |  |
| **Sweden** | **Sweden** | **Sweden** | **Sweden** |
|  Alleima AB | (42701) | (213532) | (19.0) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
|  Assa Abloy AB, Class B | (16359) | $(385357) | (34.3)% |
|  Boliden AB | (25662) | (1151633) | (102.6) |
|  Evolution AB | (6066) | (681764) | (60.7) |
|  Fastighets AB Balder, Class B | (164396) | (847008) | (75.4) |
|  Hexagon AB, B Shares | (44362) | (508544) | (45.3) |
|  Hexatronic Group AB | (6227) | (76645) | (6.8) |
|  Holmen AB | (2254) | (92967) | (8.3) |
|  Husqvarna AB, B Shares | (23632) | (201058) | (17.9) |
|  Investment AB Latour, B Shares | (1886) | (39793) | (3.5) |
|  Kinnevik AB | (22762) | (351835) | (31.3) |
|  Lifco AB, B Shares | (3669) | (66994) | (6.0) |
|  Securitas AB, B Shares | (83018) | (759910) | (67.7) |
|  Skandinaviska Enskilda Banken AB, Class A | (46597) | (564094) | (50.2) |
|  Skanska AB, B Shares | (58007) | (1023829) | (91.2) |
|  Svenska Cellulosa AB SCA, Class B | (23132) | (321219) | (28.6) |
|  Swedbank AB | (35500) | (682893) | (60.8) |
|  Swedish Orphan Biovitrum AB | (6042) | (134740) | (12.0) |
|  Telia Co. AB | (132899) | (343230) | (30.6) |
|  |  | (8447045) |  |
| **Switzerland** | **Switzerland** | **Switzerland** | **Switzerland** |
|  Adecco Group AG, Registered Shares | (11735) | (435846) | (38.8) |
|  Alcon, Inc. | (18597) | (1403302) | (125.0) |
|  Bachem Holding AG | (5459) | (482760) | (43.0) |
|  Baloise Holding AG, Registered Shares | (3664) | (602629) | (53.7) |
|  Barry Callebaut AG, Registered Shares | (740) | (1546106) | (137.7) |
|  Chubb Ltd. | (11604) | (2639794) | (235.1) |
|  Credit Suisse Group AG, Registered Shares | (29479) | (100689) | (9.0) |
|  CRISPR Therapeutics AG | (4798) | (244794) | (21.8) |
|  Emmi AG, Registered Shares | (530) | (493773) | (44.0) |
|  EMS-Chemie Holding AG, Registered Shares | (391) | (291483) | (25.9) |
|  Flughafen Zurich AG, Registered Shares | (670) | (122070) | (10.9) |
|  Galenica AG | (9134) | (714348) | (63.6) |
|  Kuehne & Nagel International AG, Registered Shares | (2640) | (629525) | (56.0) |
|  Novartis AG, Registered Shares | (12202) | (1103171) | (98.2) |
|  On Holding AG, Class A | (43828) | (1016810) | (90.5) |
|  Roche Holding AG | (5587) | (1744096) | (155.3) |
|  Schindler Holding AG, Registered Shares | (988) | (199861) | (17.8) |
|  SIG Group AG | (15078) | (373723) | (33.3) |
|  Sonova Holding AG, Registered Shares | (385) | (96278) | (8.6) |
|  Swiss Life Holding AG, Registered Shares | (1710) | (1012059) | (90.1) |
|  Swisscom AG, Registered Shares | (5028) | (2970822) | (264.5) |
|  Zurich Insurance Group AG | (3420) | (1691287) | (150.6) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19915226) |  |
| **Thailand** | **Thailand** | **Thailand** | **Thailand** |
|  Fabrinet | (3510) | (462127) | (41.1) |
| **United Kingdom** | **United Kingdom** | **United Kingdom** | **United Kingdom** |
|  Admiral Group PLC | (36188) | (983782) | (87.6) |
|  Allfunds Group PLC | (31934) | (254034) | (22.6) |
|  Amcor PLC | (45309) | (546427) | (48.7) |
|  Associated British Foods PLC | (8269) | (189817) | (16.9) |
|  B&M European Value Retail SA | (21353) | (118089) | (10.5) |
|  BAE Systems PLC | (46951) | (497025) | (44.3) |
|  Barratt Developments PLC | (37182) | (210771) | (18.8) |
|  Berkeley Group Holdings PLC | (17900) | (916617) | (81.6) |
|  British American Tobacco PLC | (81295) | (3116346) | (277.5) |
|  British Land Co. PLC | (79371) | (434387) | (38.7) |
|  Bunzl PLC | (19047) | (699238) | (62.3) |
|  Clarivate PLC | (170945) | (1900908) | (169.3) |
|  Coca-Cola Europacific Partners PLC | (20640) | (1160381) | (103.3) |

---

S C H E D U L E O F I N V E S T M E N T S 46

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
|  Compass Group PLC | (23248) | $(555348) | (49.4)% |
|  Dechra Pharmaceuticals PLC | (3275) | (116152) | (10.3) |
|  Farfetch Ltd., Class A | (67359) | (459388) | (40.9) |
|  Ferguson PLC | (292) | (41141) | (3.7) |
|  Ferguson PLC | (2292) | (326243) | (29.0) |
|  Future PLC | (20588) | (383364) | (34.1) |
|  Games Workshop Group PLC | (1759) | (204032) | (18.2) |
|  Greggs PLC, Registered Shares | (36126) | (1206318) | (107.4) |
|  Haleon PLC | (342492) | (1372496) | (122.2) |
|  Imperial Brands PLC | (5798) | (145450) | (12.9) |
|  Inchcape PLC | (13973) | (157542) | (14.0) |
|  Informa PLC | (3342) | (27641) | (2.5) |
|  InterContinental Hotels Group PLC | (7000) | (485965) | (43.3) |
|  International Distributions Services PLC | (60297) | (170670) | (15.2) |
|  Janus Henderson Group PLC | (27206) | (705180) | (62.8) |
|  Linde PLC | (3560) | (1178146) | (104.9) |
|  M&G PLC | (157163) | (392486) | (34.9) |
|  Mondi PLC | (795) | (14992) | (1.3) |
|  National Grid PLC | (47926) | (609278) | (54.3) |
|  Next PLC | (5578) | (456694) | (40.7) |
|  Noble Corp. PLC | (7702) | (313394) | (27.9) |
|  nVent Electric PLC | (58549) | (2327323) | (207.2) |
|  Pentair PLC | (4824) | (267153) | (23.8) |
|  RELX PLC | (16507) | (490405) | (43.7) |
|  Rightmove PLC | (37036) | (269099) | (24.0) |
|  RS GROUP PLC | (21173) | (246154) | (21.9) |
|  Tate & Lyle PLC | (34928) | (325252) | (29.0) |
|  Taylor Wimpey PLC | (153552) | (222792) | (19.8) |
|  Unilever PLC | (4473) | (227671) | (20.3) |
|  Vistry Group PLC | (58666) | (538470) | (47.9) |
|  Vodafone Group PLC | (473738) | (546605) | (48.7) |
|  Watches of Switzerland Group PLC | (40641) | (477091) | (42.5) |
|  Whitbread PLC | (20117) | (757651) | (67.5) |
|  Wise PLC, Class A | (20129) | (134937) | (12.0) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27180345) |  |
| **United States** | **United States** | **United States** | **United States** |
|  10X Genomics, Inc., Class A | (2064) | (96657) | (8.6) |
|  Abbott Laboratories | (3918) | (433135) | (38.6) |
|  Academy Sports & Outdoors, Inc. | (5453) | (318564) | (28.4) |
|  Adient PLC | (5613) | (252697) | (22.5) |
|  ADT, Inc. | (127839) | (1123705) | (100.1) |
|  Advanced Micro Devices, Inc. | (1498) | (112575) | (10.0) |
|  AES Corp. | (18182) | (498369) | (44.4) |
|  Affiliated Managers Group, Inc. | (2369) | (409221) | (36.4) |
|  Affirm Holdings, Inc. | (16945) | (274340) | (24.4) |
|  Aflac, Inc. | (728) | (53508) | (4.8) |
|  AGCO Corp. | (16000) | (2210080) | (196.8) |
|  agilon health, Inc. | (59968) | (1304904) | (116.2) |
|  Agree Realty Corp. | (16269) | (1214155) | (108.1) |
|  Air Lease Corp., Class A | (954) | (42901) | (3.8) |
|  Airbnb, Inc., Class A | (50626) | (5625055) | (500.9) |
|  Alaska Air Group, Inc. | (809) | (41534) | (3.7) |
|  Albertsons Cos., Inc., Class A | (60687) | (1286564) | (114.6) |
|  Alexandria Real Estate Equities, Inc. | (1393) | (223911) | (19.9) |
|  Alight, Inc., Class A | (151837) | (1425749) | (127.0) |
|  Allegheny Technologies, Inc. | (4324) | (157350) | (14.0) |
|  Alliant Energy Corp. | (21417) | (1157161) | (103.0) |
|  Altria Group, Inc. | (3341) | (150479) | (13.4) |
|  Amdocs Ltd. | (16586) | (1524751) | (135.8) |
|  Ameren Corp. | (10669) | (926816) | (82.5) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  American Airlines Group, Inc. | (8959) | $(144598) | (12.9)% |
|  American Electric Power Co., Inc. | (28707) | (2697310) | (240.2) |
|  American Equity Investment Life Holding Co. | (784) | (37358) | (3.3) |
|  Americold Realty Trust | (70833) | (2224865) | (198.1) |
|  Ameriprise Financial, Inc. | (5353) | (1874192) | (166.9) |
|  AmerisourceBergen Corp. | (8575) | (1448832) | (129.0) |
|  Amkor Technology, Inc. | (27007) | (790225) | (70.4) |
|  AMN Healthcare Services, Inc. | (6317) | (605421) | (53.9) |
|  Annaly Capital Management, Inc. | (44203) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1037444) | (92.4) |
|  Antero Midstream Corp. | (2300) | (25070) | (2.2) |
|  Apartment Income REIT Corp. | (5674) | (217087) | (19.3) |
|  Apellis Pharmaceuticals, Inc. | (3607) | (190197) | (16.9) |
|  Apollo Global Management, Inc. | (17250) | (1220955) | (108.7) |
|  Apple Hospitality REIT, Inc. | (5718) | (101380) | (9.0) |
|  AppLovin Corp., Class A | (91973) | (1168057) | (104.0) |
|  AptarGroup, Inc. | (8955) | (1035556) | (92.2) |
|  Aramark | (8203) | (365280) | (32.5) |
|  Archer-Daniels-Midland Co. | (12615) | (1045153) | (93.1) |
|  Arista Networks, Inc. | (438) | (55197) | (4.9) |
|  Asbury Automotive Group, Inc. | (300) | (66000) | (5.9) |
|  Assurant, Inc. | (1737) | (230309) | (20.5) |
|  Atkore, Inc. | (12484) | (1626041) | (144.8) |
|  Atlassian Corp Ltd., Class A | (1256) | (202995) | (18.1) |
|  Atmos Energy Corp. | (8009) | (941378) | (83.8) |
|  Automatic Data Processing, Inc. | (4354) | (983177) | (87.5) |
|  Avangrid, Inc. | (10118) | (426676) | (38.0) |
|  Avantor, Inc. | (6984) | (166918) | (14.9) |
|  Axalta Coating Systems Ltd. | (2028) | (61043) | (5.4) |
|  Axon Enterprise, Inc. | (2360) | (461238) | (41.1) |
|  Bank OZK | (303) | (13838) | (1.2) |
|  Bentley Systems, Inc., Class B | (30094) | (1175171) | (104.6) |
|  Berkshire Hathaway, Inc., Class B | (1796) | (559490) | (49.8) |
|  BJ's Wholesale Club Holdings, Inc. | (515) | (37322) | (3.3) |
|  Blackstone Mortgage Trust, Inc., Class A | (41829) | (997203) | (88.8) |
|  Bloom Energy Corp., Class A | (11011) | (274504) | (24.4) |
|  Blue Owl Capital, Inc., Class A | (64911) | (816580) | (72.7) |
|  Boston Properties, Inc. | (27661) | (2061851) | (183.6) |
|  Broadcom, Inc. | (3849) | (2251703) | (200.5) |
|  Brunswick Corp. | (17186) | (1449295) | (129.1) |
|  Bumble, Inc., Class A | (58607) | (1509130) | (134.4) |
|  Bunge Ltd. | (1692) | (167677) | (14.9) |
|  Burlington Stores, Inc. | (4116) | (945980) | (84.2) |
|  Cactus, Inc., Class A | (7058) | (381908) | (34.0) |
|  Cadence Design Systems, Inc. | (950) | (173689) | (15.5) |
|  Caesars Entertainment, Inc. | (8058) | (419499) | (37.4) |
|  Calix, Inc. | (13174) | (693479) | (61.8) |
|  Callaway Golf Co. | (32066) | (785296) | (69.9) |
|  Campbell Soup Co. | (11217) | (582499) | (51.9) |
|  CarMax, Inc. | (10632) | (749024) | (66.7) |
|  Casey's General Stores, Inc. | (72) | (16986) | (1.5) |
|  Caterpillar, Inc. | (7983) | (2014031) | (179.3) |
|  CDW Corp. | (1266) | (248174) | (22.1) |
|  Celanese Corp., Class A | (5645) | (695464) | (61.9) |
|  Celsius Holdings, Inc. | (4885) | (490063) | (43.6) |
|  CenterPoint Energy, Inc. | (138466) | (4170596) | (371.4) |
|  Ceridian HCM Holding, Inc. | (4812) | (347811) | (31.0) |
|  ChampionX Corp. | (23813) | (786305) | (70.0) |
|  ChargePoint Holdings, Inc. | (49389) | (599582) | (53.4) |
|  Chemours Co. | (15671) | (570268) | (50.8) |
|  Cisco Systems, Inc. | (49676) | (2417731) | (215.3) |
|  Citizens Financial Group, Inc. | (24109) | (1044402) | (93.0) |

---

47.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Civitas Resources, Inc. | (16714) | $(1112317) | (99.0)% |
|  Clean Harbors, Inc. | (189) | (24627) | (2.2) |
|  Clear Secure, Inc., Class A | (5420) | (170134) | (15.2) |
|  Cleveland-Cliffs, Inc. | (36732) | (784228) | (69.8) |
|  Cloudflare, Inc., Class A | (18787) | (994020) | (88.5) |
|  Coherent Corp. | (34078) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1478985) | (131.7) |
|  Commerce Bancshares, Inc. | (2690) | (179046) | (15.9) |
|  Conagra Brands, Inc. | (14533) | (540482) | (48.1) |
|  Concentrix Corp. | (3222) | (456912) | (40.7) |
|  Confluent, Inc., Class A | (24489) | (565696) | (50.4) |
|  Constellation Energy Corp. | (16648) | (1421073) | (126.5) |
|  Copart, Inc. | (9580) | (638124) | (56.8) |
|  Corning, Inc. | (4445) | (153841) | (13.7) |
|  Corteva, Inc. | (43150) | (2781017) | (247.6) |
|  Coty, Inc., Class A | (61880) | (616325) | (54.9) |
|  Crane Holdings Co. | (8705) | (1008997) | (89.8) |
|  CubeSmart | (7455) | (341364) | (30.4) |
|  Cullen/Frost Bankers, Inc. | (4995) | (650749) | (57.9) |
|  Darden Restaurants, Inc. | (755) | (111717) | (9.9) |
|  Datadog, Inc., Class A | (24687) | (1846834) | (164.5) |
|  Deere & Co. | (2221) | (939128) | (83.6) |
|  Delta Air Lines, Inc. | (48869) | (1910778) | (170.1) |
|  Denbury, Inc. | (1194) | (103615) | (9.2) |
|  Diodes, Inc. | (7571) | (675257) | (60.1) |
|  Discover Financial Services | (9019) | (1052788) | (93.7) |
|  DoorDash, Inc., Class A | (1738) | (100665) | (9.0) |
|  Dow, Inc. | (72997) | (4332372) | (385.8) |
|  Doximity, Inc., Class A | (98265) | (3465807) | (308.6) |
|  Dr Horton Inc. | (465) | (45891) | (4.1) |
|  DraftKings, Inc., Class A | (58356) | (874756) | (77.9) |
|  DTE Midstream LLC | (9905) | (541407) | (48.2) |
|  Duke Energy Corp. | (3748) | (383983) | (34.2) |
|  Dun & Bradstreet Holdings, Inc. | (52598) | (770561) | (68.6) |
|  Duolingo, Inc. | (15081) | (1440085) | (128.2) |
|  East West Bancorp, Inc. | (4886) | (383649) | (34.2) |
|  EastGroup Properties, Inc. | (341) | (57373) | (5.1) |
|  Elanco Animal Health, Inc. | (14457) | (198495) | (17.7) |
|  Elastic NV | (6522) | (383754) | (34.2) |
|  EMCOR Group, Inc. | (11521) | (1707988) | (152.1) |
|  Endeavor Group Holdings, Inc., Class A | (21489) | (481998) | (42.9) |
|  Ensign Group, Inc. | (1212) | (113019) | (10.1) |
|  Equitable Holdings, Inc. | (67726) | (2171973) | (193.4) |
|  Erie Indemnity Co., Class A | (61) | (14905) | (1.3) |
|  Essential Utilities Inc. | (17982) | (840299) | (74.8) |
|  Estee Lauder Cos., Inc., Class A | (821) | (227483) | (20.3) |
|  Euronet Worldwide, Inc. | (1087) | (122483) | (10.9) |
|  Evoqua Water Technologies Corp | (7468) | (362273) | (32.3) |
|  Exact Sciences Corp. | (2946) | (198914) | (17.7) |
|  Exelon Corp. | (9534) | (402239) | (35.8) |
|  ExlService Holdings, Inc. | (993) | (169406) | (15.1) |
|  F&G Annuities & Life, Inc. | (1) | (21) | (0.0) |
|  Fastenal Co. | (5509) | (278480) | (24.8) |
|  Federal Realty Investment Trust | (5141) | (573376) | (51.1) |
|  Fidelity National Financial, Inc. | (2725) | (119982) | (10.7) |
|  First Citizens BancShares, Inc., Class A | (1509) | (1173519) | (104.5) |
|  First Republic Bank | (4883) | (687917) | (61.3) |
|  FirstEnergy Corp. | (47443) | (1942791) | (173.0) |
|  Fiserv, Inc. | (1943) | (207279) | (18.5) |
|  Five Below, Inc. | (4582) | (903250) | (80.4) |
|  Five9, Inc. | (877) | (69090) | (6.2) |
|  FMC Corp. | (9054) | (1205359) | (107.3) |
|  FNB Corp. | (220906) | (3152329) | (280.7) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Fox Factory Holding Corp. | (2013) | $(237715) | (21.2)% |
|  Freshworks, Inc., Class A | (86671) | (1402337) | (124.9) |
|  Frontier Communications Parent, Inc. | (13233) | (391829) | (34.9) |
|  Gaming and Leisure Properties, Inc. | (13646) | (730880) | (65.1) |
|  GE Healthcare, Inc. | (11073) | (769795) | (68.5) |
|  Gen Digital, Inc. | (30455) | (700770) | (62.4) |
|  Generac Holdings, Inc. | (1125) | (135675) | (12.1) |
|  Gitlab, Inc., Class A | (40736) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2012766) | (179.2) |
|  GLOBALFOUNDRIES, Inc. | (23088) | (1368657) | (121.9) |
|  GoDaddy, Inc., Class A | (703) | (57737) | (5.1) |
|  Graphic Packaging Holding Co. | (28452) | (685409) | (61.0) |
|  Guardant Health, Inc. | (2956) | (92907) | (8.3) |
|  GXO Logistics, Inc. | (32803) | (1716581) | (152.9) |
|  Haemonetics Corp. | (3795) | (321057) | (28.6) |
|  Hancock Whitney Corp. | (34267) | (1764065) | (157.1) |
|  Harley-Davidson, Inc. | (19505) | (897815) | (79.9) |
|  Hasbro, Inc. | (14406) | (852403) | (75.9) |
|  HashiCorp, Inc., Class A | (23366) | (751918) | (67.0) |
|  Healthcare Realty Trust, Inc., Class A | (115534) | (2487447) | (221.5) |
|  Healthpeak Properties, Inc. | (13835) | (380186) | (33.9) |
|  Hershey Co. | (1820) | (408772) | (36.4) |
|  Hertz Global Holdings, Inc. | (75882) | (1367394) | (121.8) |
|  Hess Corp. | (9253) | (1389430) | (123.7) |
|  Hilton Grand Vacations, Inc. | (17852) | (845471) | (75.3) |
|  Hologic, Inc. | (2903) | (236217) | (21.0) |
|  Home BancShares, Inc. | (54736) | (1306548) | (116.3) |
|  Houlihan Lokey, Inc., Class A | (8354) | (827631) | (73.7) |
|  Howmet Aerospace Inc. | (349) | (14201) | (1.3) |
|  Hubbell, Inc., Class B | (5407) | (1237716) | (110.2) |
|  Huntington Bancshares, Inc. | (69779) | (1058547) | (94.3) |
|  Hyatt Hotels Corp., Class A | (11370) | (1240694) | (110.5) |
|  IAA, Inc. | (22641) | (944809) | (84.1) |
|  IDEX Corp. | (4862) | (1165324) | (103.8) |
|  Independence Realty Trust, Inc. | (62714) | (1180905) | (105.2) |
|  Ingersoll Rand, Inc. | (25457) | (1425592) | (126.9) |
|  Ingredion, Inc. | (7553) | (776448) | (69.1) |
|  Inspire Medical Systems, Inc. | (430) | (108816) | (9.7) |
|  Interactive Brokers Group, Inc., Class A | (9560) | (764226) | (68.1) |
|  Intercontinental Exchange, Inc. | (2375) | (255431) | (22.7) |
|  International Flavors & Fragrances, Inc. | (15022) | (1689374) | (150.4) |
|  International Game Technology PLC | (19939) | (527387) | (47.0) |
|  Interpublic Group of Cos., Inc. | (53425) | (1947876) | (173.5) |
|  Intra-Cellular Therapies, Inc. | (14914) | (714679) | (63.6) |
|  iRhythm Technologies, Inc. | (11860) | (1165838) | (103.8) |
|  Jack Henry & Associates, Inc. | (1403) | (252666) | (22.5) |
|  JPMorgan Chase & Co. | (5219) | (730451) | (65.0) |
|  Karuna Therapeutics, Inc. | (2624) | (523199) | (46.6) |
|  Keurig Dr Pepper, Inc. | (21377) | (754181) | (67.2) |
|  Kinsale Capital Group, Inc. | (4647) | (1293911) | (115.2) |
|  Kite Realty Group Trust | (110966) | (2407962) | (214.4) |
|  Kraft Heinz Co. | (5328) | (215944) | (19.2) |
|  Lancaster Colony Corp. | (2966) | (569205) | (50.7) |
|  Lantheus Holdings, Inc. | (258) | (14835) | (1.3) |
|  Leggett & Platt, Inc. | (29425) | (1075778) | (95.8) |
|  Levi Strauss & Co., Class A | (38092) | (700893) | (62.4) |
|  Liberty Media Corp.-Liberty Formula One, Class C | (962) | (68110) | (6.1) |
|  Lincoln Electric Holdings, Inc. | (1463) | (244131) | (21.7) |
|  Lithia Motors, Inc., Class A | (234) | (61589) | (5.5) |
|  Littelfuse, Inc. | (681) | (174806) | (15.6) |
|  Live Nation Entertainment, Inc. | (2534) | (203962) | (18.2) |
|  Loews Corp. | (10046) | (617628) | (55.0) |

---

S C H E D U L E O F I N V E S T M E N T S 48

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  LyondellBasell Industries NV, Class A | (17946) | $(1735199) | (154.5)% |
|  Madison Square Garden Sports Corp. | (166) | (30185) | (2.7) |
|  Maravai LifeSciences Holdings, Inc., Class A | (43733) | (641126) | (57.1) |
|  Markel Corp. | (299) | (421285) | (37.5) |
|  MarketAxess Holdings, Inc. | (305) | (110974) | (9.9) |
|  Marqeta, Inc., Class A | (62948) | (417345) | (37.2) |
|  MasTec, Inc. | (10862) | (1066974) | (95.0) |
|  Maximus, Inc. | (32118) | (2404032) | (214.1) |
|  McDonald's Corp. | (1419) | (379441) | (33.8) |
|  McKesson Corp. | (4311) | (1632489) | (145.4) |
|  MDU Resources Group, Inc. | (21160) | (654056) | (58.2) |
|  Medpace Holdings, Inc. | (7511) | (1660457) | (147.9) |
|  Merck & Co., Inc. | (8584) | (922007) | (82.1) |
|  Microchip Technology, Inc. | (1421) | (110298) | (9.8) |
|  Mid-America Apartment Communities, Inc. | (7459) | (1243564) | (110.7) |
|  MKS Instruments, Inc. | (11061) | (1131762) | (100.8) |
|  Moderna, Inc. | (1436) | (252822) | (22.5) |
|  Molina Healthcare, Inc. | (230) | (71721) | (6.4) |
|  MongoDB, Inc., Class A | (4585) | (982153) | (87.5) |
|  Morgan Stanley | (46019) | (4479029) | (398.8) |
|  Motorola Solutions, Inc. | (3689) | (948110) | (84.4) |
|  MSCI, Inc., Class A | (206) | (109501) | (9.8) |
|  Murphy Oil Corp. | (554) | (24160) | (2.2) |
|  Murphy USA, Inc. | (3271) | (889810) | (79.2) |
|  Nasdaq, Inc. | (2504) | (150716) | (13.4) |
|  Natera, Inc. | (6101) | (261916) | (23.3) |
|  National Retail Properties, Inc. | (25844) | (1223713) | (109.0) |
|  National Storage Affiliates Trust | (26980) | (1100784) | (98.0) |
|  nCino, Inc. | (35488) | (1014957) | (90.4) |
|  Neogen Corp. | (10093) | (216091) | (19.2) |
|  New Jersey Resources Corp. | (17324) | (864814) | (77.0) |
|  New Residential Investment Corp. | (216043) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2032965) | (181.0) |
|  New York Times Co., Class A | (1341) | (46720) | (4.2) |
|  Newell Brands, Inc. | (56405) | (900224) | (80.2) |
|  News Corp., Class A | (92224) | (1868458) | (166.4) |
|  NextEra Energy, Inc. | (4947) | (369195) | (32.9) |
|  Novanta, Inc. | (16148) | (2607418) | (232.2) |
|  Oak Street Health, Inc. | (36145) | (1050374) | (93.5) |
|  OGE Energy Corp. | (38949) | (1531475) | (136.4) |
|  Okta, Inc. | (15941) | (1173417) | (104.5) |
|  Old Dominion Freight Line, Inc. | (536) | (178617) | (15.9) |
|  Old National Bancorp | (146319) | (2560582) | (228.0) |
|  Old Republic International Corp. | (91840) | (2423658) | (215.8) |
|  Omnicom Group, Inc. | (995) | (85560) | (7.6) |
|  ONEOK, Inc. | (1303) | (89229) | (7.9) |
|  Onto Innovation, Inc. | (6443) | (506742) | (45.1) |
|  Option Care Health, Inc. | (798) | (23038) | (2.1) |
|  Organon & Co. | (27704) | (834722) | (74.3) |
|  PACCAR, Inc. | (5289) | (578141) | (51.5) |
|  Packaging Corp. of America | (781) | (111449) | (9.9) |
|  Palantir Technologies, Inc., Class A | (93040) | (723851) | (64.5) |
|  Parker-Hannifin Corp. | (9918) | (3233268) | (287.9) |
|  Paychex, Inc. | (189) | (21898) | (2.0) |
|  PayPal Holdings, Inc. | (3307) | (269487) | (24.0) |
|  Peloton Interactive, Inc., Class A | (39740) | (513838) | (45.8) |
|  Penumbra, Inc. | (2144) | (536879) | (47.8) |
|  Performance Food Group Co. | (22738) | (1394294) | (124.2) |
|  Permian Resources Corp., Class A | (37200) | (404364) | (36.0) |
|  Pfizer, Inc. | (16127) | (712168) | (63.4) |
|  PG&E Corp. | (17493) | (278139) | (24.8) |
|  Philip Morris International, Inc. | (37174) | (3875018) | (345.1) |
|  Phillips 66 | (10184) | (1021150) | (90.9) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Phillips Edison & Co., Inc. | (5552) | $(186103) | (16.6)% |
|  Pilgrim's Pride Corp. | (27583) | (669715) | (59.6) |
|  Plug Power, Inc. | (4467) | (76028) | (6.8) |
|  Principal Financial Group, Inc. | (9574) | (886074) | (78.9) |
|  Privia Health Group, Inc. | (18281) | (494318) | (44.0) |
|  Procore Technologies, Inc. | (10522) | (588706) | (52.4) |
|  Progressive Corp. | (6523) | (889411) | (79.2) |
|  Progyny, Inc. | (22132) | (761119) | (67.8) |
|  Prometheus Biosciences, Inc. | (2585) | (293811) | (26.2) |
|  PTC, Inc. | (2873) | (387510) | (34.5) |
|  Public Storage | (5243) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1595655) | (142.1) |
|  QUALCOMM, Inc. | (13599) | (1811523) | (161.3) |
|  Qualtrics International, Inc., Class A | (131928) | (2080505) | (185.3) |
|  Quanta Services, Inc. | (3324) | (505880) | (45.0) |
|  QuidelOrtho Corp. | (1394) | (119340) | (10.6) |
|  Radian Group, Inc. | (649) | (14343) | (1.3) |
|  Rambus, Inc. | (13244) | (535985) | (47.7) |
|  Raymond James Financial, Inc. | (13362) | (1506833) | (134.2) |
|  Raytheon Technologies Corp. | (1805) | (180229) | (16.1) |
|  RBC Bearings, Inc. | (8102) | (1976645) | (176.0) |
|  Realty Income Corp. | (24661) | (1672756) | (149.0) |
|  Regency Centers Corp., Registered Shares | (4851) | (323222) | (28.8) |
|  Regions Financial Corp., Registered Shares | (16011) | (376899) | (33.6) |
|  Rexford Industrial Realty, Inc. | (4867) | (308908) | (27.5) |
|  Rivian Automotive, Inc., Class A | (28025) | (543685) | (48.4) |
|  Robinhood Markets, Inc., Class A | (67288) | (700468) | (62.4) |
|  Ross Stores, Inc. | (13579) | (1604902) | (142.9) |
|  Ryan Specialty Holdings, Inc. | (2928) | (124791) | (11.1) |
|  Ryman Hospitality Properties, Inc. | (183) | (16999) | (1.5) |
|  Science Applications International Corp. | (7448) | (772953) | (68.8) |
|  Sealed Air Corp. | (2163) | (118446) | (10.5) |
|  Selective Insurance Group, Inc. | (3863) | (366985) | (32.7) |
|  Sensata Technologies Holding PLC | (7759) | (394545) | (35.1) |
|  SentinelOne, Inc., Class A | (92007) | (1388386) | (123.6) |
|  Shift4 Payments, Inc., Class A | (12691) | (812732) | (72.4) |
|  Shoals Technologies Group, Inc., Class A | (22763) | (634860) | (56.5) |
|  Shockwave Medical, Inc. | (1405) | (264042) | (23.5) |
|  Silgan Holdings, Inc. | (45106) | (2430762) | (216.5) |
|  Skyworks Solutions, Inc. | (4401) | (482658) | (43.0) |
|  SLM Corp. | (34485) | (605901) | (54.0) |
|  Smartsheet, Inc., Class A | (4854) | (209741) | (18.7) |
|  Snowflake, Inc., Class A | (12595) | (1970362) | (175.5) |
|  SoFi Technologies, Inc. | (123208) | (853831) | (76.0) |
|  Sonoco Products Co. | (1331) | (81337) | (7.2) |
|  South State Corp. | (17633) | (1403587) | (125.0) |
|  Southern Co. | (1317) | (89135) | (7.9) |
|  Southwest Gas Holdings, Inc. | (1737) | (116257) | (10.4) |
|  Spirit AeroSystems Holdings, Inc., Class A | (11668) | (421798) | (37.6) |
|  Spirit Realty Capital, Inc. | (1688) | (74069) | (6.6) |
|  SPS Commerce, Inc. | (220) | (29938) | (2.7) |
|  SS&C Technologies Holdings, Inc. | (26646) | (1608086) | (143.2) |
|  STAG Industrial, Inc. | (55206) | (1965334) | (175.0) |
|  Starbucks Corp. | (11301) | (1233391) | (109.8) |
|  Starwood Property Trust, Inc. | (58021) | (1212059) | (107.9) |
|  SunPower Corp. | (6766) | (117931) | (10.5) |
|  Sunrun, Inc. | (3031) | (79655) | (7.1) |
|  Super Micro Computer, Inc. | (5597) | (404831) | (36.1) |
|  Teledyne Technologies, Inc. | (201) | (85276) | (7.6) |
|  Terreno Realty Corp. | (15242) | (982042) | (87.4) |
|  Texas Roadhouse, Inc., Class A | (3153) | (316656) | (28.2) |
|  T-Mobile U.S., Inc. | (2304) | (344010) | (30.6) |
|  Toast, Inc., Class A | (52799) | (1177946) | (104.9) |

---

49.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Trade Desk, Inc., Class A | (17939) | $(909507) | (81.0)% |
|  Tradeweb Markets, Inc., Class A | (7562) | (563671) | (50.2) |
|  TripAdvisor, Inc. | (21182) | (493541) | (43.9) |
|  Truist Financial Corp. | (1091) | (53884) | (4.8) |
|  Tyson Foods, Inc., Class A | (224) | (14728) | (1.3) |
|  Uber Technologies, Inc. | (47749) | (1476877) | (131.5) |
|  U-Haul Holding Co. | (7893) | (487708) | (43.4) |
|  UiPath, Inc., Class A | (99537) | (1528888) | (136.1) |
|  Ulta Salon Cosmetics & Fragrance, Inc. | (249) | (127976) | (11.4) |
|  United Bankshares, Inc. | (88675) | (3564735) | (317.4) |
|  United Rentals, Inc. | (2040) | (899538) | (80.1) |
|  UnitedHealth Group, Inc. | (417) | (208162) | (18.5) |
|  Unity Software, Inc. | (2164) | (76865) | (6.8) |
|  Valaris Ltd. | (10650) | (773616) | (68.9) |
|  Valley National Bancorp | (174875) | (2077515) | (185.0) |
|  Valmont Industries, Inc. | (2415) | (796298) | (70.9) |
|  Valvoline, Inc. | (5016) | (183887) | (16.4) |
|  Vertiv Holdings Co., Class A | (65007) | (924400) | (82.3) |
|  Viatris, Inc. | (8619) | (104807) | (9.3) |
|  Vir Biotechnology, Inc. | (5716) | (168908) | (15.0) |
|  Vontier Corp. | (74485) | (1715390) | (152.7) |
|  Voya Financial, Inc. | (5902) | (411783) | (36.7) |
|  Walt Disney Co. | (2942) | (319178) | (28.4) |
|  Warner Music Group Corp., Class A | (33470) | (1219982) | (108.6) |
|  Wayfair, Inc., Class A | (6003) | (363182) | (32.3) |
|  Webster Financial Corp. | (4807) | (253089) | (22.5) |
|  WEC Energy Group, Inc. | (3986) | (374644) | (33.4) |
|  Welltower, Inc. | (22323) | (1675118) | (149.2) |
|  Western Union Co. | (71175) | (1008550) | (89.8) |
|  WillScot Mobile Mini Holdings Corp. | (7331) | (355260) | (31.6) |
|  Wingstop, Inc. | (4420) | (700437) | (62.4) |
|  Wolfspeed, Inc. | (8150) | (627632) | (55.9) |
|  Workiva, Inc., Class A | (3544) | (306662) | (27.3) |
|  WW Grainger, Inc. | (31) | (18274) | (1.6) |
|  Wyndham Hotels & Resorts, Inc. | (9440) | (731694) | (65.2) |
|  Xcel Energy, Inc. | (5847) | (402098) | (35.8) |
|  Zimmer Biomet Holdings, Inc. | (4187) | (533173) | (47.5) |
|  Zoom Video Communications, Inc., Class A | (5304) | (397800) | (35.4) |
|  Zscaler, Inc. | (8184) | (1016125) | (90.5) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;(303945751) |  |
| **Uruguay** |  |  |  |
|  Globant SA | (4416) | (716187) | (63.8) |
| **Preferred Stocks** |  |  |  |
| **Germany** |  |  |  |
|  Henkel AG & Co. KGaA | (3360) | (239569) | (21.3) |
|  **Total Reference Entity — Short** | **Total Reference Entity — Short** | (550817220) |  |
|  **Net Value of Reference Entity — BNP Paribas SA** | **Net Value of Reference Entity — BNP Paribas SA** | $1123018 |  |

---

The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with Goldman Sachs & Co. as of period end, termination dates on February 27, 2023 and February 28, 2023:

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Reference Entity — Long** |  |  |  |
| **Common Stocks** |  |  |  |
| **Australia** |  |  |  |
|  Abacus Property Group | 68126 | $134997 | 18.5% |
|  Accent Group Ltd. | 39703 | 61741 | 8.5 |
|  AP Eagers Ltd. | 3915 | 31842 | 4.4 |
|  Arena REIT | 36669 | 97274 | 13.3 |
|  Australian Ethical Investment Ltd. | 42877 | 134120 | 18.4 |
|  Charter Hall Retail REIT | 125495 | 356381 | 48.8 |
|  Charter Hall Social Infrastructure REIT | 67042 | 165434 | 22.6 |
|  Clinuvel Pharmaceuticals Ltd. | 7573 | 135754 | 18.6 |
|  Coronado Global Resources, Inc., CDI | 47662 | 69057 | 9.5 |
|  Credit Corp. Group Ltd. | 23757 | 366862 | 50.2 |
|  Growthpoint Properties Australia Ltd. | 91626 | 211638 | 29 |
|  GWA Group Ltd. | 86996 | 133785 | 18.3 |
|  Imdex Ltd. | 143562 | 254919 | 34.9 |
|  IPH Ltd. | 1265 | 7651 | 1 |
|  Johns Lyng Group Ltd. | 42659 | 177798 | 24.3 |
|  Jumbo Interactive Ltd. | 32341 | 358226 | 49 |
|  Lovisa Holdings Ltd. | 20560 | 386192 | 52.9 |
|  Monadelphous Group Ltd. | 41053 | 404626 | 55.4 |
|  Nanosonics Ltd. | 74807 | 258174 | 35.3 |
|  Netwealth Group Ltd. | 27987 | 266920 | 36.5 |
|  Nick Scali Ltd. | 34772 | 295753 | 40.5 |
|  Nine Entertainment Co. Holdings Ltd. | 33574 | 48576 | 6.7 |
|  Objective Corp. Ltd. | 4574 | 45100 | 6.2 |
|  oOh!media Ltd. | 65867 | 67066 | 9.2 |
|  Perenti Global Ltd. | 214944 | 190981 | 26.1 |
|  Pinnacle Investment Management Group Ltd. | 44397 | 330763 | 45.3 |
|  PWR Holdings Ltd. | 6643 | 58014 | 7.9 |
|  SolGold PLC | 129936 | 25956 | 3.6 |
|  Technology One Ltd. | 1142 | 11808 | 1.6 |
|  Viva Energy Group Ltd. | 104093 | 215205 | 29.5 |
|  Waypoint REIT Ltd. | 101028 | 199485 | 27.3 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5502098 |  |
| **Austria** | **Austria** | **Austria** | **Austria** |
|  AT&S Austria Technologie & Systemtechnik AG | 9242 | 317108 | 43.4 |
|  IMMOFINANZ AG | 1211 | 16315 | 2.2 |
|  Kontron AG | 16571 | 336736 | 46.1 |
|  Palfinger AG | 1833 | 55511 | 7.6 |
|  Porr AG | 6646 | 95517 | 13.1 |
|  Schoeller-Bleckmann Oilfield Equipment AG | 944 | 69246 | 9.5 |
|  Strabag SE | 1224 | 51722 | 7.1 |
|  UNIQA Insurance Group AG | 13456 | 113157 | 15.5 |
|  Vienna Insurance Group AG Wiener Versicherung Gruppe | 11890 | 323579 | 44.3 |
|  |  | 1378891 |  |

---

S C H E D U L E O F I N V E S T M E N T S 50

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket*<br> *Value* |
| **Belgium** |  |  |  |
|  Barco NV | 6115 | $154793 | 21.2% |
|  Econocom Group SA | 4224 | 13088 | 1.8 |
|  Euronav NV | 8801 | 138589 | 19 |
|  Exmar NV | 13106 | 110139 | 15.1 |
|  Ion Beam Applications | 980 | 17664 | 2.4 |
|  Melexis NV | 8280 | 882022 | &nbsp;&nbsp;&nbsp;&nbsp;120.7 |
|  Montea NV | 916 | 73513 | 10.1 |
|  Shurgard Self Storage SA | 3907 | 188529 | 25.8 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1578337 |  |
| **Bermuda** |  |  |  |
|  Argo Group International Holdings Ltd. | 8300 | 230408 | 31.5 |
|  Hafnia Ltd. | 79393 | 417482 | 57.2 |
|  Helen of Troy Ltd. | 149 | 16854 | 2.3 |
|  |  | 664744 |  |
| **Canada** |  |  |  |
|  Aecon Group, Inc. | 43589 | 367241 | 50.3 |
|  Altius Minerals Corp. | 21252 | 357142 | 48.9 |
|  Boardwalk Real Estate Investment Trust | 4299 | 181646 | 24.9 |
|  Canaccord Genuity Group, Inc. | 18429 | 159421 | 21.8 |
|  Canada Goose Holdings, Inc. | 28481 | 688827 | 94.3 |
|  Cargojet, Inc. | 1636 | 151704 | 20.8 |
|  Centerra Gold, Inc. | 10542 | 67663 | 9.3 |
|  City Office REIT, Inc. | 878 | 8639 | 1.2 |
|  ECN Capital Corp. | 27832 | 61080 | 8.4 |
|  Eldorado Gold Corp. | 35439 | 339328 | 46.5 |
|  Enghouse Systems Ltd. | 972 | 28878 | 4 |
|  EQB, Inc. | 3492 | 173058 | 23.7 |
|  Evertz Technologies Ltd. | 6500 | 60967 | 8.3 |
|  Fortuna Silver Mines, Inc. | 72594 | 280435 | 38.4 |
|  Hudbay Minerals, Inc. | 93450 | 542910 | 74.3 |
|  IMAX Corp. | 1920 | 32640 | 4.5 |
|  Innergex Renewable Energy Inc. | 81535 | 969436 | 132.7 |
|  Interfor Corp. | 4346 | 86917 | 11.9 |
|  Kelt Exploration Ltd. | 16725 | 57445 | 7.9 |
|  Knight Therapeutics, Inc. | 1933 | 7438 | 1 |
|  Laurentian Bank of Canada | 5464 | 146892 | 20.1 |
|  Lundin Gold, Inc. | 5268 | 60973 | 8.3 |
|  Mercer International Inc. | 909 | 11572 | 1.6 |
|  Morguard Corp. | 1515 | 133584 | 18.3 |
|  Novagold Resources, Inc. | 8192 | 51717 | 7.1 |
|  Pason Systems Inc. | 7047 | 83576 | 11.4 |
|  PrairieSky Royalty Ltd. | 50243 | 863218 | 118.2 |
|  Precision Drilling Corp. | 4994 | 398079 | 54.5 |
|  Richelieu Hardware Ltd. | 12416 | 369247 | 50.6 |
|  Russel Metals, Inc. | 17238 | 419889 | 57.5 |
|  Sandstorm Gold Ltd. | 63188 | 366624 | 50.2 |
|  Savaria Corp. | 8358 | 93533 | 12.8 |
|  Secure Energy Services, Inc. | 15759 | 95936 | 13.1 |
|  Silvercorp Metals, Inc. | 91526 | 318489 | 43.6 |
|  Slate Grocery REIT, Class U | 21468 | 257348 | 35.2 |
|  Sleep Country Canada Holdings, Inc. | 12773 | 248538 | 34 |
|  Taseko Mines Ltd. | 63256 | 112673 | 15.4 |
|  Topaz Energy Corp. | 24707 | 384193 | 52.6 |
|  Torex Gold Resources, Inc. | 17137 | 235568 | 32.2 |
|  TransAlta Renewables, Inc. | 5811 | 53457 | 7.3 |
|  Westshore Terminals Investment Corp. | 1620 | 29842 | 4.1 |
|  |  | 9357763 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket*<br> *Value* |
| **Denmark** |  |  |  |
|  Dfds A/S | 2535 | $95558 | 13.1% |
|  Per Aarsleff Holding AS | 2241 | 93011 | 12.7 |
|  Sydbank A/S | 6999 | 319142 | 43.7 |
|  |  | 507711 |  |
| **Finland** |  |  |  |
|  Cargotec OYJ, Class B | 1366 | 69547 | 9.5 |
|  Citycon OYJ | 52143 | 392949 | 53.8 |
|  |  | 462496 |  |
| **France** |  |  |  |
|  Atos SE | 31168 | 411153 | 56.3 |
|  Believe SA | 3179 | 38520 | 5.3 |
|  Beneteau SA | 443 | 7261 | 1 |
|  Carmila SA | 1722 | 25992 | 3.5 |
|  Cie des Alpes | 3612 | 57124 | 7.8 |
|  Cie Plastic Omnium SA | 8135 | 142374 | 19.5 |
|  Coface SA | 19715 | 275673 | 37.7 |
|  Esker SA | 941 | 157117 | 21.5 |
|  Eutelsat Communications SA | 21073 | 161153 | 22.1 |
|  Guerbet | 1 | 20 | 0 |
|  Interparfums SA | 4586 | 300201 | 41.1 |
|  Kaufman & Broad SA | 2786 | 87542 | 12 |
|  Korian SA | 7322 | 76668 | 10.5 |
|  Manitou BF SA | 3609 | 105935 | 14.5 |
|  Nexity SA | 19805 | 598288 | 81.9 |
|  SES-imagotag SA | 738 | 92549 | 12.7 |
|  SMCP SA | 36524 | 289882 | 39.7 |
|  Television Francaise 1 | 88507 | 707871 | 96.9 |
|  Vicat SA | 18336 | 512007 | 70.1 |
|  Vilmorin & Cie SA | 522 | 26247 | 3.6 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4073577 |  |
| **Germany** |  |  |  |
|  Adesso SE | 987 | 156131 | 21.4 |
|  Atoss Software AG | 2528 | 447276 | 61.2 |
|  AURELIUS Equity Opportunities SE & Co. KGaA | 790 | 13535 | 1.9 |
|  Bank of Georgia Group PLC | 17758 | 584542 | 80 |
|  Bilfinger SE | 7177 | 247105 | 33.8 |
|  CANCOM SE | 5292 | 182440 | 25 |
|  Datagroup SE | 720 | 55966 | 7.7 |
|  Deutsche Pfandbriefbank AG | 48900 | 446035 | 61.1 |
|  Deutz AG | 72065 | 393921 | 53.9 |
|  Duerr AG | 8838 | 337204 | 46.2 |
|  Eckert & Ziegler Strahlen- und Medizintechnik AG | 4295 | 249920 | 34.2 |
|  Elmos Semiconductor SE | 1880 | 127722 | 17.5 |
|  ElringKlinger AG | 13242 | 115258 | 15.8 |
|  flatexDEGIRO AG | 28109 | 239187 | 32.7 |
|  GFT Technologies SE | 3346 | 139707 | 19.1 |
|  Heidelberger Druckmaschinen AG | 89668 | 184327 | 25.2 |
|  Hensoldt AG | 4319 | 125222 | 17.1 |
|  Hypoport SE | 846 | 115256 | 15.8 |
|  MLP SE | 34066 | 188878 | 25.9 |
|  Nagarro SE | 1056 | 144665 | 19.8 |
|  Salzgitter AG | 554 | 22609 | 3.1 |
|  Siltronic AG | 1744 | 145389 | 19.9 |
|  Steico SE | 904 | 48659 | 6.7 |
|  TAG Immobilien AG | 41969 | 359416 | 49.2 |

---

51.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket*<br> *Value* |
| **Germany (continued)** |  |  |  |
|  TBC Bank Group PLC | 15501 | $454828 | 62.3% |
|  Vitesco Technologies Group AG | 6315 | 437720 | 59.9 |
|  |  | 5962918 |  |
| **Hong Kong** |  |  |  |
|  Cowell e Holdings, Inc. | 6000 | 11791 | 1.6 |
|  Health & Happiness H&H International Holdings Ltd. | 172500 | 321794 | 44.0 |
|  Melco Resorts & Entertainment Ltd., ADR | 19699 | 269088 | 36.8 |
|  Nissin Foods Co. Ltd. | 21000 | 18151 | 2.5 |
|  PAX Global Technology Ltd. | 51000 | 48203 | 6.6 |
|  Sa Sa International Holdings Ltd. | 918000 | 239264 | 32.8 |
|  SmarTone Telecommunications Holdings Ltd. | 16000 | 10768 | 1.5 |
|  United Laboratories International Holdings Ltd. | 12000 | 7943 | 1.1 |
|  |  | 927002 |  |
| **Indonesia** |  |  |  |
|  Bumitama Agri Ltd. | 157900 | 73035 | 10.0 |
| **Ireland** |  |  |  |
|  Cimpress PLC | 5010 | 163777 | 22.4 |
|  Dalata Hotel Group PLC | 1869 | 7896 | 1.1 |
|  Greencore Group PLC | 70181 | 69088 | 9.5 |
|  Uniphar PLC | 16241 | 59502 | 8.1 |
|  |  | 300263 |  |
| **Israel** |  |  |  |
|  Cellcom Israel Ltd. | 9245 | 47810 | 6.5 |
|  Delek Automotive Systems Ltd. | 3094 | 38211 | 5.2 |
|  Fiverr International Ltd. | 9941 | 368712 | 50.5 |
|  Isras Investment Co. Ltd. | 306 | 59719 | 8.2 |
|  Kornit Digital Ltd. | 1841 | 46411 | 6.4 |
|  Oil Refineries Ltd. | 66482 | 22993 | 3.1 |
|  Playtika Holding Corp. | 25361 | 266037 | 36.4 |
|  Plus500 Ltd. | 24307 | 557084 | 76.3 |
|  Taboola.com Ltd. | 14151 | 56321 | 7.7 |
|  YH Dimri Construction & Development Ltd. | 769 | 49723 | 6.8 |
|  |  | 1513021 |  |
| **Italy** |  |  |  |
|  Banca Popolare di Sondrio SpA | 16317 | 80141 | 11.0 |
|  Biesse SpA | 7104 | 114519 | 15.7 |
|  Brunello Cucinelli SpA | 16401 | 1366048 | 187.0 |
|  Datalogic SpA | 5819 | 58556 | 8.0 |
|  El.En. SpA | 5014 | 78217 | 10.7 |
|  ERG SpA | 17628 | 532303 | 72.9 |
|  Iren SpA | 171966 | 311446 | 42.6 |
|  Maire Tecnimont SpA | 91287 | 351827 | 48.2 |
|  MFE-MediaForEurope NV, Class B | 137520 | 93115 | 12.7 |
|  OVS SpA | 89123 | 214575 | 29.4 |
|  Pharmanutra SpA | 536 | 34370 | 4.7 |
|  Piaggio & C SpA | 15551 | 58747 | 8.0 |
|  RAI Way SpA | 1443 | 8228 | 1.1 |
|  Salvatore Ferragamo SpA | 445 | 8831 | 1.2 |
|  Sanlorenzo SpA/Ameglia | 2976 | 130651 | 17.9 |
|  Sesa SpA | 6168 | 839318 | 114.9 |
|  Tinexta SpA | 6943 | 188853 | 25.9 |
|  Tod's SpA | 1288 | 50364 | 6.9 |
|  Webuild SpA | 221074 | 389818 | 53.4 |
|  Wiit SpA | 2657 | 61278 | 8.4 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4971205 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket*<br> *Value* |
| **Japan** |  |  |  |
|  Adastria Co. Ltd. | 49400 | $833700 | 114.1% |
|  Aeon Delight Co. Ltd. | 18100 | 429678 | 58.8 |
|  Aichi Corp. | 7900 | 47322 | 6.5 |
|  Anicom Holdings, Inc. | 66200 | 314698 | 43.1 |
|  AOKI Holdings Inc. | 72600 | 382794 | 52.4 |
|  Arata Corp. | 3300 | 107032 | 14.7 |
|  Arcland Service Holdings Co. Ltd. | 24100 | 400527 | 54.8 |
|  Avex, Inc. | 18900 | 255259 | 34.9 |
|  Bell System24 Holdings, Inc. | 23100 | 265910 | 36.4 |
|  Belluna Co. Ltd. | 36600 | 196759 | 26.9 |
|  Bunka Shutter Co. Ltd. | 66100 | 592101 | 81.1 |
|  Central Glass Co. Ltd. | 4000 | 88335 | 12.1 |
|  Chudenko Corp. | 1800 | 29682 | 4.1 |
|  Chugoku Marine Paints Ltd. | 8000 | 60929 | 8.3 |
|  Citizen Watch Co. Ltd. | 2200 | 10467 | 1.4 |
|  CKD Corp. | 600 | 9292 | 1.3 |
|  Comture Corp. | 6200 | 119211 | 16.3 |
|  Create SD Holdings Co. Ltd. | 8800 | 239446 | 32.8 |
|  Cybozu, Inc. | 700 | 14201 | 1.9 |
|  Daihen Corp. | 5500 | 179469 | 24.6 |
|  Daiken Corp. | 20900 | 353138 | 48.3 |
|  Digital Arts, Inc. | 12200 | 544939 | 74.6 |
|  Digital Garage, Inc. | 12200 | 436057 | 59.7 |
|  Doshisha Co. Ltd. | 27100 | 354857 | 48.6 |
|  Doutor Nichires Holdings Co. Ltd. | 42000 | 604467 | 82.8 |
|  Eiken Chemical Co. Ltd. | 20200 | 247356 | 33.9 |
|  Eizo Corp. | 900 | 25157 | 3.4 |
|  Elan Corp. | 4500 | 34917 | 4.8 |
|  Elecom Co. Ltd. | 39600 | 415675 | 56.9 |
|  en-japan, Inc. | 30100 | 573068 | 78.5 |
|  FCC Co. Ltd. | 64400 | 717420 | 98.2 |
|  Fuji Co. Ltd./Ehime | 4400 | 62824 | 8.6 |
|  Fujimi, Inc. | 4200 | 213002 | 29.2 |
|  Fujimori Kogyo Co. Ltd. | 3400 | 87296 | 12.0 |
|  Fukuoka REIT Corp. | 280 | 360082 | 49.3 |
|  FULLCAST Holdings Co. Ltd. | 3100 | 67334 | 9.2 |
|  Funai Soken Holdings, Inc. | 4600 | 99556 | 13.6 |
|  Fuso Chemical Co. Ltd. | 1900 | 53985 | 7.4 |
|  Future Corp. | 19600 | 255228 | 34.9 |
|  Giken Ltd. | 13600 | 309636 | 42.4 |
|  Global One Real Estate Investment Corp. | 470 | 388105 | 53.1 |
|  Goldcrest Co. Ltd. | 27700 | 347504 | 47.6 |
|  Gree, Inc. | 12300 | 66929 | 9.2 |
|  G-Tekt Corp. | 28400 | 337590 | 46.2 |
|  H2O Retailing Corp. | 40900 | 399151 | 54.6 |
|  Halows Co. Ltd. | 4100 | 100430 | 13.7 |
|  Heiwa Real Estate Co. Ltd. | 3300 | 94413 | 12.9 |
|  Hiday Hidaka Corp. | 8000 | 127177 | 17.4 |
|  Hitachi Zosen Corp. | 13900 | 92042 | 12.6 |
|  Ichigo Office REIT Investment Corp. | 151 | 98843 | 13.5 |
|  Ichigo, Inc. | 164300 | 376572 | 51.6 |
|  Infocom Corp. | 12600 | 212393 | 29.1 |
|  Infomart Corp. | 158200 | 511786 | 70.1 |
|  JAC Recruitment Co. Ltd. | 39800 | 723339 | 99.0 |
|  JAFCO Group Co. Ltd. | 22400 | 399731 | 54.7 |
|  Japan Petroleum Exploration Co. Ltd. | 4600 | 149116 | 20.4 |
|  JCU Corp. | 20400 | 505849 | 69.3 |
|  JINS Holdings, Inc. | 11200 | 337291 | 46.2 |
|  Kanematsu Electronics Ltd. | 2700 | 128944 | 17.7 |
|  KeePer Technical Laboratory Co. Ltd. | 4400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113340 | 15.5 |
|  Keihanshin Building Co. Ltd. | 3000 | 31606 | 4.3 |

---

S C H E D U L E O F I N V E S T M E N T S 52

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket*<br> *Value* |
| **Japan (continued)** |  |  |  |
|  Kintetsu Department Store Co. Ltd. | 1100 | $21773 | 3.0% |
|  Kissei Pharmaceutical Co. Ltd. | 7700 | 151695 | 20.8 |
|  Konoike Transport Co. Ltd. | 21900 | 259816 | 35.6 |
|  Koshidaka Holdings Co. Ltd. | 18000 | 130334 | 17.8 |
|  Kumiai Chemical Industry Co. Ltd. | 32200 | 218483 | 29.9 |
|  Kyokuto Kaihatsu Kogyo Co. Ltd. | 16600 | 190688 | 26.1 |
|  Kyoritsu Maintenance Co. Ltd. | 2000 | 91348 | 12.5 |
|  Life Corp. | 29100 | 634810 | 86.9 |
|  Link And Motivation, Inc. | 2100 | 10665 | 1.5 |
|  M&A Capital Partners Co. Ltd. | 3200 | 108384 | 14.8 |
|  Maeda Kosen Co. Ltd. | 6700 | 173384 | 23.7 |
|  Mandom Corp. | 39100 | 443291 | 60.7 |
|  Maruzen Showa Unyu Co. Ltd. | 800 | 19385 | 2.7 |
|  Megmilk Snow Brand Co. Ltd. | 13200 | 184748 | 25.3 |
|  Meidensha Corp. | 15600 | 231745 | 31.7 |
|  Meitec Corp. | 38600 | 726131 | 99.4 |
|  METAWATER Co. Ltd. | 13200 | 174229 | 23.9 |
|  Mitsubishi Pencil Co. Ltd. | 13800 | 154804 | 21.2 |
|  Mitsubishi Shokuhin Co. Ltd. | 20900 | 503780 | 69.0 |
|  Mixi, Inc. | 17900 | 343425 | 47.0 |
|  Mizuho Leasing Co. Ltd. | 5700 | 151225 | 20.7 |
|  Mochida Pharmaceutical Co. Ltd. | 3400 | 91323 | 12.5 |
|  Monogatari Corp. | 6600 | 330695 | 45.3 |
|  Mori Trust Sogo REIT, Inc. | 186 | 209898 | 28.7 |
|  Morita Holdings Corp. | 21100 | 197487 | 27.0 |
|  MOS Food Services, Inc. | 15800 | 374757 | 51.3 |
|  Nakanishi, Inc. | 27600 | 585550 | 80.2 |
|  Nichicon Corp. | 2000 | 19647 | 2.7 |
|  Nichiha Corp. | 3900 | 83707 | 11.5 |
|  Nippon Ceramic Co. Ltd. | 8500 | 158434 | 21.7 |
|  Nippon Light Metal Holdings Co. Ltd. | 2900 | 33239 | 4.5 |
|  Nippon Paper Industries Co. Ltd. | 42300 | 314926 | 43.1 |
|  NIPPON REIT Investment Corp. | 170 | 432904 | 59.3 |
|  Nippon Road Co. Ltd. | 3700 | 176618 | 24.2 |
|  Nippon Seiki Co. Ltd. | 1400 | 9025 | 1.2 |
|  Nippon Soda Co. Ltd. | 2500 | 81714 | 11.2 |
|  Nishimatsu Construction Co. Ltd. | 21000 | 656005 | 89.8 |
|  Nishi-Nippon Financial Holdings, Inc. | 33900 | 282166 | 38.6 |
|  Nissan Shatai Co. Ltd. | 1500 | 10422 | 1.4 |
|  Nisshinbo Holdings, Inc. | 23500 | 175661 | 24.0 |
|  Nissin Electric Co. Ltd. | 5900 | 61172 | 8.4 |
|  Nissui Corp. | 50800 | 211085 | 28.9 |
|  Nittetsu Mining Co. Ltd. | 7100 | 197716 | 27.1 |
|  Nitto Boseki Co. Ltd. | 3100 | 48886 | 6.7 |
|  Nohmi Bosai Ltd. | 6200 | 82211 | 11.3 |
|  Nomura Co. Ltd. | 45400 | 326658 | 44.7 |
|  Noritsu Koki Co. Ltd. | 500 | 9056 | 1.2 |
|  NSD Co. Ltd. | 10800 | 194031 | 26.6 |
|  NTN Corp. | 94300 | 195490 | 26.8 |
|  Obara Group, Inc. | 14300 | 413764 | 56.6 |
|  Oiles Corp. | 25000 | 297554 | 40.7 |
|  Okamura Corp. | 17800 | 195239 | 26.7 |
|  Oki Electric Industry Co. Ltd. | 82600 | 466584 | 63.9 |
|  Okinawa Cellular Telephone Co. | 6000 | 145171 | 19.9 |
|  Okinawa Electric Power Co. Inc. | 27400 | 227875 | 31.2 |
|  Okumura Corp. | 4400 | 102362 | 14.0 |
|  Osaka Organic Chemical Industry Ltd. | 10800 | 178206 | 24.4 |
|  Pacific Metals Co. Ltd. | 1500 | 23158 | 3.2 |
|  PHC Holdings Corp. | 1900 | 22542 | 3.1 |
|  Plus Alpha Consulting Co. Ltd. | 1900 | 41182 | 5.6 |
|  Prestige International, Inc. | 137700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768145 | 105.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket*<br> *Value* |
| **Japan (continued)** |  |  |  |
|  Raito Kogyo Co. Ltd. | 12100 | $179573 | 24.6% |
|  Riso Kyoiku Co. Ltd. | 70800 | 198966 | 27.2 |
|  Round One Corp. | 39400 | 145173 | 19.9 |
|  Royal Holdings Co. Ltd. | 10700 | 199972 | 27.4 |
|  RS Technologies Co. Ltd. | 1900 | 57739 | 7.9 |
|  Sakata Seed Corp. | 4600 | 146961 | 20.1 |
|  Sangetsu Corp. | 1700 | 29874 | 4.1 |
|  Sanyo Chemical Industries Ltd. | 600 | 19565 | 2.7 |
|  Sanyo Special Steel Co. Ltd. | 2200 | 42210 | 5.8 |
|  Sato Holdings Corp. | 13100 | 213536 | 29.2 |
|  Seiren Co. Ltd. | 8900 | 163454 | 22.4 |
|  Septeni Holdings Co. Ltd. | 18800 | 49792 | 6.8 |
|  Shin-Etsu Polymer Co. Ltd. | 1300 | 12945 | 1.8 |
|  Shoei Co. Ltd. | 15500 | 596837 | 81.7 |
|  Starts Corp. Inc. | 5000 | 99428 | 13.6 |
|  Starts Proceed Investment Corp. | 20 | 35044 | 4.8 |
|  Strike Co. Ltd. | 12000 | 388799 | 53.2 |
|  Sumitomo Densetsu Co. Ltd. | 3000 | 54825 | 7.5 |
|  Sumitomo Mitsui Construction Co. Ltd. | 95000 | 307268 | 42.1 |
|  Sumitomo Warehouse Co. Ltd. | 10300 | 158589 | 21.7 |
|  Sun Frontier Fudousan Co. Ltd. | 4600 | 39653 | 5.4 |
|  Systena Corp. | 97300 | 312352 | 42.8 |
|  Taiyo Holdings Co. Ltd. | 8700 | 160495 | 22.0 |
|  Takara Standard Co. Ltd. | 8300 | 90580 | 12.4 |
|  Takuma Co. Ltd. | 84600 | 838013 | 114.7 |
|  Tamron Co. Ltd. | 4800 | 116362 | 15.9 |
|  TechMatrix Corp. | 4300 | 58867 | 8.1 |
|  Tocalo Co. Ltd. | 21400 | 205000 | 28.1 |
|  Toei Animation Co. Ltd. | 1700 | 169462 | 23.2 |
|  Toho Titanium Co. Ltd. | 19400 | 362058 | 49.6 |
|  Tokai Corp./Gifu. | 16300 | 245283 | 33.6 |
|  Tokai Rika Co. Ltd. | 12300 | 142773 | 19.5 |
|  Token Corp. | 6200 | 374952 | 51.3 |
|  Tokyo Steel Manufacturing Co. Ltd. | 50400 | 548369 | 75.1 |
|  Tokyotokeiba Co. Ltd. | 5700 | 169921 | 23.3 |
|  Tokyu Construction Co. Ltd. | 79500 | 404617 | 55.4 |
|  Tokyu REIT, Inc. | 104 | 156710 | 21.5 |
|  Topcon Corp. | 24500 | 319273 | 43.7 |
|  Toridoll Holdings Corp. | 6900 | 149681 | 20.5 |
|  Tosei Corp. | 43900 | 501198 | 68.6 |
|  Tosho Co. Ltd. | 11600 | 107030 | 14.7 |
|  Towa Pharmaceutical Co. Ltd. | 16100 | 254194 | 34.8 |
|  Tri Chemical Laboratories, Inc. | 17800 | 323234 | 44.3 |
|  Trusco Nakayama Corp. | 28000 | 458731 | 62.8 |
|  Tsubakimoto Chain Co. | 400 | 9575 | 1.3 |
|  UACJ Corp. | 6800 | 127679 | 17.5 |
|  United Arrows Ltd. | 36200 | 488849 | 66.9 |
|  UT Group Co. Ltd. | 18300 | 372767 | 51.0 |
|  Valor Holdings Co. Ltd. | 29000 | 417919 | 57.2 |
|  ValueCommerce Co. Ltd. | 29400 | 403377 | 55.2 |
|  Vector, Inc. | 6200 | 61218 | 8.4 |
|  Vision, Inc./Tokyo Japan | 4300 | 48095 | 6.6 |
|  VT Holdings Co. Ltd. | 41300 | 158999 | 21.8 |
|  Wakita & Co. Ltd. | 25300 | 235991 | 32.3 |
|  WDB Holdings Co. Ltd. | 4100 | 67846 | 9.3 |
|  Yamazen Corp. | 600 | 4915 | 0.7 |
|  Yellow Hat Ltd. | 12900 | 176859 | 24.2 |
|  Yurtec Corp. | 43200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254453 | 34.8 |

---

53.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket*<br> *Value* |
| **Japan (continued)** |  |  |  |
|  Zenrin Co. Ltd. | 19800 | $123089 | 16.9% |
|  Zuken, Inc. | 17700 | 431951 | 59.1 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42284305 |  |
| **Luxembourg** |  |  |  |
|  SES SA, Class A | 77041 | 597848 | 81.8 |
| **Malta** |  |  |  |
|  Kambi Group PLC | 14034 | 252372 | 34.6 |
| **Netherlands** |  |  |  |
|  Pharming Group NV | 39469 | 54742 | 7.5 |
|  Shop Apotheke Europe NV | 3741 | 269739 | 36.9 |
|  TomTom NV | 50178 | 356625 | 48.8 |
|  uniQure NV | 15758 | 334858 | 45.9 |
|  Wereldhave NV | 8059 | 121061 | 16.6 |
|  |  | 1137025 |  |
| **New Zealand** |  |  |  |
|  a2 Milk Co. Ltd. | 25218 | 120946 | 16.6 |
| **Norway** |  |  |  |
|  Aker Solutions ASA | 2046 | 8088 | 1.1 |
|  Austevoll Seafood ASA | 3113 | 30839 | 4.2 |
|  Borregaard ASA, Registered Shares | 6548 | 100952 | 13.8 |
|  DNO ASA | 194724 | 240232 | 32.9 |
|  Elkem ASA | 31104 | 110176 | 15.1 |
|  Hoegh Autoliners ASA | 1379 | 8566 | 1.2 |
|  Odfjell Drilling Ltd. | 90932 | 242574 | 33.2 |
|  Protector Forsikring ASA | 12905 | 185930 | 25.5 |
|  Scatec ASA | 86798 | 707940 | 96.9 |
|  Schibsted ASA, B Shares | 1914 | 40012 | 5.5 |
|  |  | 1675309 |  |
| **Portugal** |  |  |  |
|  REN - Redes Energeticas Nacionais SGPS SA | 238539 | 655617 | 89.8 |
| **Singapore** |  |  |  |
|  AIMS APAC REIT | 34500 | 36088 | 4.9 |
|  BW LPG Ltd. | 23394 | 193615 | 26.5 |
|  Capitaland India Trust | 435800 | 402939 | 55.2 |
|  ESR-LOGOS REIT | 24300 | 7054 | 1 |
|  Far East Hospitality Trust | 145000 | 74128 | 10.1 |
|  First Resources Ltd. | 144200 | 169001 | 23.1 |
|  Frasers Centrepoint Trust | 77200 | 130884 | 17.9 |
|  Hour Glass Ltd. | 45000 | 71402 | 9.8 |
|  IGG, Inc. | 1463000 | 550237 | 75.3 |
|  Raffles Medical Group Ltd. | 15000 | 16592 | 2.3 |
|  Sasseur Real Estate Investment Trust | 47700 | 29627 | 4.1 |
|  Sheng Siong Group Ltd. | 138900 | 173588 | 23.8 |
|  |  | 1855155 |  |
| **South Sandwich Islands** |  |  |  |
|  Balanced Commercial Property Trust Ltd. | 136047 | 133174 | 18.2 |
|  UK Commercial Property REIT Ltd. | 888695 | 635236 | 87 |
|  |  | 768410 |  |
| **Spain** |  |  |  |
|  Almirall SA | 8872 | 89395 | 12.2 |
|  Cia de Distribucion Integral Logista Holdings SA | 6154 | 166733 | 22.8 |
|  Ebro Foods SA | 1191 | 20460 | 2.8 |
|  Melia Hotels International SA | 5171 | 34433 | 4.7 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket*<br> *Value* |
| **Spain (continued)** |  |  |  |
|  Prosegur Cia de Seguridad SA | 3209 | $7249 | 1.0% |
|  Sacyr SA | 57970 | 178329 | 24.4 |
|  Unicaja Banco SA | 79303 | 97475 | 13.4 |
|  |  | 594074 |  |
| **Sweden** |  |  |  |
|  AddLife AB, Class B | 952 | 10047 | 1.4 |
|  AddTech AB, B Shares | 32649 | 521383 | 71.4 |
|  AFRY AB | 14480 | 261400 | 35.8 |
|  Arjo AB, B Shares | 52495 | 203707 | 27.9 |
|  BioGaia AB, B Shares | 39180 | 344384 | 47.1 |
|  Biotage AB | 24323 | 375911 | 51.5 |
|  Bufab AB | 1747 | 45267 | 6.2 |
|  Cellavision AB | 238 | 5617 | 0.8 |
|  Corem Property Group AB | 144640 | 132417 | 18.1 |
|  Fortnox AB | 40116 | 202431 | 27.7 |
|  HMS Networks AB | 4634 | 172757 | 23.7 |
|  Intrum AB | 7985 | 103338 | 14.1 |
|  Inwido AB | 7830 | 85333 | 11.7 |
|  MIPS AB | 3843 | 147069 | 20.1 |
|  Mycronic AB | 3805 | 81334 | 11.1 |
|  Nolato AB, B Shares | 19645 | 118640 | 16.2 |
|  Nyfosa AB | 21121 | 184173 | 25.2 |
|  Orron Energy AB | 127412 | 236206 | 32.3 |
|  OX2 AB | 15546 | 120010 | 16.4 |
|  Ratos AB, Class A, B Shares | 13678 | 55163 | 7.6 |
|  Scandic Hotels Group AB | 132552 | 488652 | 66.9 |
|  Sectra AB, B Shares | 14799 | 209579 | 28.7 |
|  Troax Group AB | 8286 | 174358 | 23.9 |
|  Xvivo Perfusion AB | 344 | 7060 | 1 |
|  |  | 4286236 |  |
| **Switzerland** |  |  |  |
|  Aryzta AG | 818701 | 1114766 | 152.6 |
|  Basilea Pharmaceutica AG, Registered Shares | 6738 | 363951 | 49.8 |
|  Burkhalter Holding AG | 770 | 71550 | 9.8 |
|  Ferrexpo PLC | 9486 | 18559 | 2.6 |
|  Gurit Holding AG | 1220 | 135926 | 18.6 |
|  Implenia AG, Registered Shares | 2527 | 106150 | 14.6 |
|  Inficon Holding AG, Registered Shares | 298 | 312007 | 42.7 |
|  LEM Holding SA, Registered Shares | 6 | 13271 | 1.8 |
|  Medartis Holding AG | 550 | 46147 | 6.3 |
|  Sensirion Holding AG | 1926 | 229193 | 31.4 |
|  Sulzer AG, Registered Shares | 2678 | 228042 | 31.2 |
|  Swissquote Group Holding SA, Registered Shares | 663 | 119742 | 16.4 |
|  Ypsomed Holding AG, Registered Shares | 3090 | 634119 | 86.8 |
|  |  | 3393423 |  |
| **United Kingdom** |  |  |  |
|  Abcam PLC | 643 | 8918 | 1.2 |
|  AJ Bell PLC | 41337 | 171539 | 23.5 |
|  Ashmore Group PLC | 103189 | 339879 | 46.5 |
|  ASOS PLC | 7011 | 75854 | 10.4 |
|  boohoo Group PLC | 401676 | 219330 | 30 |
|  Bytes Technology Group PLC | 73839 | 352295 | 48.2 |
|  Capital & Counties Properties PLC | 89713 | 127193 | 17.4 |
|  Ceres Power Holdings PLC | 12624 | 74312 | 10.2 |
|  Chemring Group PLC | 150128 | 521940 | 71.5 |
|  Clarkson PLC | 1349 | 51141 | 7 |

---

S C H E D U L E O F I N V E S T M E N T S 54

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket*<br> *Value* |
| **United Kingdom (continued)** |  |  |  |
|  CLS Holdings PLC | 73774 | $135519 | 18.6% |
|  CVS Group PLC | 18087 | 449755 | 61.6 |
|  DiscoverIE Group PLC | 12743 | 135237 | 18.5 |
|  Dunelm Group PLC | 56024 | 804656 | 110.2 |
|  EnQuest PLC | 163548 | 44218 | 6.1 |
|  FD Technologies PLC | 706 | 11924 | 1.6 |
|  Fevertree Drinks PLC | 17176 | 231584 | 31.7 |
|  Frontier Developments PLC | 4598 | 27436 | 3.8 |
|  Gamma Communications PLC | 3166 | 46187 | 6.3 |
|  Hunting PLC | 53825 | 231258 | 31.7 |
|  Impax Asset Management Group PLC | 21960 | 211136 | 28.9 |
|  IntegraFin Holdings PLC | 30025 | 115787 | 15.9 |
|  JET2 PLC | 46119 | 695224 | 95.2 |
|  Judges Scientific PLC | 1559 | 161065 | 22.0 |
|  Jupiter Fund Management PLC | 18400 | 31758 | 4.3 |
|  Kainos Group PLC | 19792 | 359420 | 49.2 |
|  Learning Technologies Group PLC | 86955 | 150298 | 20.6 |
|  Luxfer Holdings PLC | 1798 | 29757 | 4.1 |
|  Mitchells & Butlers PLC | 29466 | 59872 | 8.2 |
|  Moneysupermarket.com Group PLC | 87618 | 257951 | 35.3 |
|  Morgan Advanced Materials PLC | 44044 | 170937 | 23.4 |
|  National Express Group PLC | 203999 | 336040 | 46.0 |
|  OSB Group PLC | 55572 | 374660 | 51.3 |
|  Paragon Banking Group PLC | 54811 | 406118 | 55.6 |
|  Quilter PLC | 340957 | 404712 | 55.4 |
|  Safestore Holdings PLC | 23669 | 294719 | 40.3 |
|  Savills PLC | 1304 | 15683 | 2.1 |
|  Shaftesbury PLC | 50029 | 243660 | 33.4 |
|  SIG PLC | 159924 | 69085 | 9.5 |
|  Smart Metering Systems PLC | 33722 | 361695 | 49.5 |
|  SThree PLC | 65662 | 343234 | 47.0 |
|  TP ICAP Group PLC | 110728 | 241078 | 33.0 |
|  Trainline PLC | 39736 | 139029 | 19.0 |
|  Vesuvius PLC | 77549 | 391030 | 53.5 |
|  Virgin Money UK PLC | 46926 | 112280 | 15.4 |
|  Wickes Group PLC | 30779 | 57716 | 7.9 |
|  Workspace Group PLC | 52362 | 326000 | 44.6 |
|  YouGov PLC | 10210 | 122663 | 16.8 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10542782 |  |
| **United States** |  |  |  |
|  2seventy bio, Inc. | 3553 | 48321 | 6.6 |
|  2U, Inc. | 24791 | 213946 | 29.3 |
|  8x8, Inc. | 138894 | 654191 | 89.6 |
|  A10 Networks, Inc. | 13489 | 208810 | 28.6 |
|  AAON, Inc. | 380 | 29002 | 4.0 |
|  Abercrombie & Fitch Co., Class A | 11207 | 324555 | 44.4 |
|  Acadia Realty Trust | 5653 | 87791 | 12.0 |
|  Accel Entertainment, Inc., Class A | 14251 | 131394 | 18.0 |
|  ACCO Brands Corp. | 33959 | 215640 | 29.5 |
|  ACI Worldwide, Inc. | 16018 | 447383 | 61.3 |
|  Acushnet Holdings Corp. | 490 | 23005 | 3.1 |
|  Advanced Energy Industries, Inc. | 5929 | 549855 | 75.3 |
|  AdvanSix, Inc. | 2160 | 93398 | 12.8 |
|  AerSale Corp. | 10113 | 188203 | 25.8 |
|  Agios Pharmaceuticals, Inc. | 2714 | 80009 | 11.0 |
|  Air Transport Services Group, Inc. | 4406 | 124734 | 17.1 |
|  Alarm.com Holdings, Inc. | 1027 | 55047 | 7.5 |
|  Alector, Inc. | 41956 | 370052 | 50.7 |
|  Alignment Healthcare, Inc. | 11528 | 142371 | 19.5 |
|  Allegiant Travel Co. | 1619 | 139283 | 19.1 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket*<br> *Value* |
| **United States (continued)** |  |  |  |
|  Allegro MicroSystems, Inc. | 5764 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220012 | 30.1% |
|  Allogene Therapeutics, Inc. | 24327 | 187804 | 25.7 |
|  Altair Engineering, Inc., Class A | 6494 | 344831 | 47.2 |
|  Amalgamated Financial Corp. | 10693 | 245404 | 33.6 |
|  American Assets Trust, Inc. | 11858 | 337479 | 46.2 |
|  American Axle & Manufacturing Holdings, Inc. | 14093 | 125005 | 17.1 |
|  American Eagle Outfitters, Inc. | 14531 | 234530 | 32.1 |
|  American Vanguard Corp. | 2894 | 65375 | 8.9 |
|  American Woodmark Corp. | 9667 | 553822 | 75.8 |
|  Amneal Pharmaceuticals, Inc. | 9382 | 20640 | 2.8 |
|  Amphastar Pharmaceuticals, Inc. | 6314 | 191062 | 26.2 |
|  AnaptysBio, Inc. | 5027 | 125122 | 17.1 |
|  Anika Therapeutics, Inc. | 4543 | 140878 | 19.3 |
|  Apogee Enterprises, Inc. | 5388 | 252374 | 34.6 |
|  Applied Industrial Technologies, Inc. | 96 | 13748 | 1.9 |
|  Arbor Realty Trust, Inc. | 16391 | 244718 | 33.5 |
|  ArcBest Corp. | 1619 | 135106 | 18.5 |
|  Arcus Biosciences, Inc. | 18388 | 397732 | 54.5 |
|  Artisan Partners Asset Management, Inc., Class A | 7847 | 288927 | 39.6 |
|  Artivion, Inc. | 3337 | 43514 | 6 |
|  Arvinas, Inc. | 3866 | 126689 | 17.3 |
|  AssetMark Financial Holdings, Inc. | 17912 | 475384 | 65.1 |
|  Associated Banc-Corp. | 383 | 8583 | 1.2 |
|  Assured Guaranty Ltd. | 16026 | 1003228 | 137.4 |
|  Astec Industries, Inc. | 2005 | 88501 | 12.1 |
|  Atlantic Union Bankshares Corp. | 2387 | 92353 | 12.6 |
|  AtriCure, Inc. | 4620 | 199954 | 27.4 |
|  AvidXchange Holdings, Inc. | 21491 | 238980 | 32.7 |
|  Avient Corp. | 7523 | 304832 | 41.7 |
|  Axcelis Technologies, Inc. | 901 | 99065 | 13.6 |
|  Axonics, Inc. | 244 | 14982 | 2.1 |
|  Axos Financial, Inc. | 8589 | 413303 | 56.6 |
|  Badger Meter, Inc. | 3891 | 450967 | 61.7 |
|  BancFirst Corp. | 87 | 7493 | 1 |
|  Bandwidth, Inc., Class A | 16215 | 403429 | 55.2 |
|  Bar Harbor Bankshares | 1313 | 40795 | 5.6 |
|  Berry Corp. | 21569 | 198435 | 27.2 |
|  BGC Partners, Inc., Class A | 4066 | 17687 | 2.4 |
|  Big Lots, Inc. | 8655 | 141596 | 19.4 |
|  Blackbaud, Inc. | 5135 | 319448 | 43.7 |
|  Bluebird Bio, Inc. | 7342 | 46622 | 6.4 |
|  Boise Cascade Co. | 3586 | 268842 | 36.8 |
|  BOK Financial Corp. | 1754 | 176277 | 24.1 |
|  Boot Barn Holdings, Inc. | 1387 | 115801 | 15.9 |
|  Brandywine Realty Trust | 19035 | 124870 | 17.1 |
|  Bread Financial Holdings, Inc. | 6398 | 262510 | 35.9 |
|  Bridgebio Pharma, Inc. | 7675 | 71224 | 9.8 |
|  BrightView Holdings, Inc. | 3518 | 27968 | 3.8 |
|  Brink's Co. | 2126 | 139466 | 19.1 |
|  Brookdale Senior Living, Inc. | 137676 | 396507 | 54.3 |
|  Buckle, Inc. | 4962 | 218328 | 29.9 |
|  Byline Bancorp, Inc. | 7705 | 191084 | 26.2 |
|  Cal-Maine Foods, Inc. | 2637 | 150889 | 20.7 |
|  Camden National Corp. | 1504 | 63514 | 8.7 |
|  Cannae Holdings, Inc. | 18733 | 457834 | 62.7 |
|  Capital City Bank Group, Inc. | 13504 | 438475 | 60 |
|  Cara Therapeutics, Inc. | 4177 | 48787 | 6.7 |
|  Cardiovascular Systems, Inc. | 20803 | 289994 | 39.7 |
|  CareDx, Inc. | 21082 | 314965 | 43.1 |
|  Carriage Services, Inc., Class A | 2309 | 74858 | 10.2 |

---

55.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Casa Systems, Inc. | 7973 | $27268 | 3.7% |
|  Casella Waste Systems, Inc., Class A | 631 | 50556 | 6.9 |
|  Catalyst Pharmaceuticals, Inc. | 6196 | 95976 | 13.1 |
|  Cavco Industries, Inc. | 1616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430018 | 58.9 |
|  Central Garden & Pet Co., Class A | 612 | 24254 | 3.3 |
|  Century Aluminum Co. | 10356 | 116401 | 15.9 |
|  Cerence, Inc. | 8716 | 213716 | 29.3 |
|  Cerus Corp. | 31120 | 97717 | 13.4 |
|  Chatham Lodging Trust | 32694 | 464582 | 63.6 |
|  Chegg, Inc. | 27586 | 572685 | 78.4 |
|  Chico's FAS, Inc. | 62484 | 329291 | 45.1 |
|  Children's Place, Inc. | 2207 | 100132 | 13.7 |
|  Chimera Investment Corp. | 40301 | 293794 | 40.2 |
|  Cinemark Holdings, Inc. | 27175 | 324469 | 44.4 |
|  CIRCOR International, Inc. | 4526 | 125144 | 17.1 |
|  Clean Energy Fuels Corp. | 15771 | 89264 | 12.2 |
|  Clear Channel Outdoor Holdings, Inc. | 46740 | 89273 | 12.2 |
|  Clearwater Paper Corp. | 5805 | 224131 | 30.7 |
|  Clearway Energy, Inc., Class A | 7758 | 248644 | 34 |
|  Clover Health Investments Corp., Class A | 5386 | 7163 | 1 |
|  CNO Financial Group, Inc. | 14528 | 374241 | 51.2 |
|  Codexis, Inc. | 67912 | 417659 | 57.2 |
|  Coeur Mining, Inc. | 64669 | 251562 | 34.4 |
|  Coherus Biosciences, Inc. | 37779 | 320366 | 43.9 |
|  Comfort Systems USA, Inc. | 1440 | 174298 | 23.9 |
|  CommScope Holding Co., Inc. | 1064 | 8938 | 1.2 |
|  Community Health Systems, Inc. | 59526 | 310726 | 42.5 |
|  CommVault Systems, Inc. | 11048 | 687517 | 94.1 |
|  ConnectOne Bancorp, Inc. | 12990 | 308772 | 42.3 |
|  Corcept Therapeutics, Inc. | 31086 | 710626 | 97.3 |
|  Core & Main, Inc., Class A | 5420 | 119619 | 16.4 |
|  CorVel Corp. | 38 | 6770 | 0.9 |
|  Cracker Barrel Old Country Store, Inc. | 66 | 7198 | 1 |
|  CrossFirst Bankshares, Inc. | 6131 | 82768 | 11.3 |
|  Dana, Inc. | 13160 | 238722 | 32.7 |
|  Dave & Buster's Entertainment, Inc. | 2100 | 91035 | 12.5 |
|  Deciphera Pharmaceuticals, Inc. | 515 | 8760 | 1.2 |
|  Delek U.S. Holdings, Inc. | 13055 | 349352 | 47.8 |
|  DiamondRock Hospitality Co. | 17075 | 164432 | 22.5 |
|  DigitalOcean Holdings, Inc. | 11476 | 336821 | 46.1 |
|  Dime Community Bancshares, Inc. | 3106 | 92621 | 12.7 |
|  Donegal Group, Inc., Class A | 20077 | 304769 | 41.7 |
|  Dorian LPG Ltd. | 5853 | 116182 | 15.9 |
|  Ducommun, Inc. | 3095 | 178829 | 24.5 |
|  DXP Enterprises, Inc. | 8361 | 253338 | 34.7 |
|  Dynavax Technologies Corp. | 1093 | 12438 | 1.7 |
|  Dyne Therapeutics, Inc. | 10229 | 149343 | 20.4 |
|  Eagle Bulk Shipping, Inc. | 3524 | 201855 | 27.6 |
|  Eagle Pharmaceuticals, Inc. | 4264 | 144720 | 19.8 |
|  EchoStar Corp., Class A | 33614 | 628918 | 86.1 |
|  Ecovyst, Inc. | 82152 | 861774 | 118 |
|  Editas Medicine, Inc., Class A | 19153 | 189423 | 25.9 |
|  elf Beauty, Inc. | 8249 | 474730 | 65 |
|  Emergent BioSolutions, Inc. | 18123 | 239042 | 32.7 |
|  Enanta Pharmaceuticals, Inc. | 4563 | 243573 | 33.3 |
|  Enerpac Tool Group Corp., Class A | 5611 | 148916 | 20.4 |
|  Enova International, Inc. | 3496 | 159592 | 21.8 |
|  EPR Properties | 1707 | 72513 | 9.9 |
|  Equity Commonwealth | 707 | 18043 | 2.5 |
|  ESCO Technologies, Inc. | 402 | 39573 | 5.4 |
|  Essent Group Ltd. | 12730 | 560502 | 76.7 |
|  Ethan Allen Interiors, Inc. | 23698 | 681080 | 93.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Eventbrite, Inc., Class A | 26122 | $232225 | 31.8% |
|  Everbridge, Inc. | 8412 | 268848 | 36.8 |
|  Everi Holdings, Inc. | 49184 | 854326 | 117 |
|  EW Scripps Co., Class A | 16721 | 249979 | 34.2 |
|  eXp World Holdings, Inc. | 41690 | 649947 | 89 |
|  Exponent, Inc. | 7132 | 731315 | 100.1 |
|  Extreme Networks, Inc. | 10264 | 185060 | 25.3 |
|  Ezcorp, Inc., Class A | 8301 | 75622 | 10.4 |
|  Fate Therapeutics, Inc. | 46109 | 274810 | 37.6 |
|  Federal Agricultural Mortgage Corp., Class C | 143 | 19015 | 2.6 |
|  FibroGen, Inc. | 16297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384609 | 52.7 |
|  First Bancshares, Inc. | 16946 | 519395 | 71.1 |
|  First Foundation, Inc. | 29218 | 453756 | 62.1 |
|  First of Long Island Corp. | 6639 | 117245 | 16.1 |
|  Flushing Financial Corp. | 16706 | 320588 | 43.9 |
|  Foot Locker, Inc. | 3685 | 160334 | 22 |
|  Forrester Research, Inc. | 11089 | 410958 | 56.3 |
|  Franklin BSP Realty Trust, Inc. | 6522 | 94569 | 12.9 |
|  Franklin Covey Co. | 7948 | 368787 | 50.5 |
|  Fresh Del Monte Produce, Inc. | 2763 | 79022 | 10.8 |
|  FRP Holdings, Inc. | 3217 | 180699 | 24.7 |
|  FutureFuel Corp. | 10725 | 99421 | 13.6 |
|  GATX Corp. | 842 | 96367 | 13.2 |
|  Genco Shipping & Trading Ltd. | 9740 | 176684 | 24.2 |
|  Genesco, Inc. | 544 | 26270 | 3.6 |
|  Gibraltar Industries, Inc. | 1849 | 99051 | 13.6 |
|  G-III Apparel Group Ltd. | 576 | 9746 | 1.3 |
|  GMS, Inc. | 8644 | 512762 | 70.2 |
|  Golden Entertainment, Inc. | 3903 | 154168 | 21.1 |
|  GoodRx Holdings, Inc., Class A | 54117 | 302514 | 41.4 |
|  Goosehead Insurance, Inc., Class A | 3327 | 129919 | 17.8 |
|  GoPro, Inc., Class A | 89723 | 551796 | 75.5 |
|  Gray Television, Inc. | 17516 | 227007 | 31.1 |
|  Group 1 Automotive, Inc. | 2943 | 629361 | 86.2 |
|  Gulfport Energy Corp. | 5745 | 391522 | 53.6 |
|  H&E Equipment Services, Inc. | 11866 | 603861 | 82.7 |
|  Hackett Group, Inc. | 6824 | 150810 | 20.6 |
|  Hain Celestial Group, Inc. | 13455 | 276097 | 37.8 |
|  Hamilton Lane, Inc., Class A | 553 | 43057 | 5.9 |
|  Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 13815 | 509912 | 69.8 |
|  Harmony Biosciences Holdings, Inc. | 3570 | 171967 | 23.5 |
|  Harsco Corp. | 15382 | 122133 | 16.7 |
|  Haverty Furniture Cos., Inc. | 12076 | 421694 | 57.7 |
|  Hawaiian Holdings, Inc. | 33068 | 407398 | 55.8 |
|  HBT Financial, Inc. | 3380 | 70879 | 9.7 |
|  HealthStream, Inc. | 1140 | 27565 | 3.8 |
|  Heartland Financial USA, Inc. | 279 | 13802 | 1.9 |
|  Heidrick & Struggles International, Inc. | 9809 | 301725 | 41.3 |
|  Helios Technologies, Inc. | 1824 | 120384 | 16.5 |
|  Helix Energy Solutions Group, Inc. | 61254 | 485744 | 66.5 |
|  Herbalife Nutrition Ltd. | 14331 | 251796 | 34.5 |
|  Heritage-Crystal Clean, Inc. | 6702 | 249314 | 34.1 |
|  Heron Therapeutics, Inc. | 35996 | 97549 | 13.4 |
|  Hibbett, Inc. | 110 | 7300 | 1 |
|  Hillenbrand, Inc. | 794 | 37207 | 5.1 |
|  Hingham Institution For Savings The | 9 | 2631 | 0.4 |
|  Holley, Inc. | 25099 | 83078 | 11.4 |
|  Horizon Bancorp, Inc. | 16874 | 263909 | 36.1 |
|  Hub Group, Inc., Class A | 2601 | 221787 | 30.4 |
|  Hudson Pacific Properties, Inc. | 33725 | 384128 | 52.6 |
|  I3 Verticals, Inc., Class A | 7072 | 204522 | 28 |

---

S C H E D U L E O F I N V E S T M E N T S 56

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  IDT Corp., Class B | 11284 | $331637 | 45.4% |
|  IGM Biosciences, Inc. | 5050 | 114786 | 15.7 |
|  Independent Bank Corp. | 13127 | 291026 | 39.8 |
|  Industrial Logistics Properties Trust | 28815 | 127074 | 17.4 |
|  Innoviva, Inc. | 34353 | 434565 | 59.5 |
|  Inogen, Inc. | 2738 | 63878 | 8.7 |
|  Insperity, Inc. | 7471 | 825919 | 113.1 |
|  Installed Building Products, Inc. | 2832 | 311775 | 42.7 |
|  Inter Parfums, Inc. | 411 | 48588 | 6.7 |
|  Intercept Pharmaceuticals, Inc. | 25984 | 474468 | 65.0 |
|  International Seaways, Inc. | 13792 | 535681 | 73.3 |
|  Iovance Biotherapeutics, Inc. | 4641 | 36942 | 5.1 |
|  Ironwood Pharmaceuticals, Inc., Class A | 58131 | 669669 | 91.7 |
|  iStar, Inc. | 67064 | 622354 | 85.2 |
|  Jackson Financial, Inc., Class A | 9903 | 436128 | 59.7 |
|  Jamf Holding Corp. | 13664 | 271504 | 37.2 |
|  Janus International Group, Inc. | 39366 | 433026 | 59.3 |
|  JetBlue Airways Corp. | 144542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156336 | 158.3 |
|  Kadant, Inc. | 242 | 49312 | 6.8 |
|  Kaiser Aluminum Corp. | 583 | 51024 | 7.0 |
|  KAR Auction Services, Inc. | 18295 | 266375 | 36.5 |
|  Karyopharm Therapeutics, Inc. | 8918 | 29429 | 4.0 |
|  Kearny Financial Corp. | 15891 | 149058 | 20.4 |
|  Kforce, Inc. | 9154 | 513814 | 70.3 |
|  Knowles Corp. | 19642 | 377716 | 51.7 |
|  Kodiak Sciences, Inc. | 6267 | 50637 | 6.9 |
|  Korn Ferry | 1104 | 59605 | 8.2 |
|  Kratos Defense & Security Solutions, Inc. | 5894 | 67486 | 9.2 |
|  Kura Oncology, Inc. | 825 | 11401 | 1.6 |
|  Kymera Therapeutics, Inc. | 358 | 13382 | 1.8 |
|  Kyndryl Holdings, Inc. | 8486 | 113628 | 15.6 |
|  Ladder Capital Corp., Class A | 6054 | 67805 | 9.3 |
|  Laureate Education, Inc. | 32168 | 353205 | 48.4 |
|  LCI Industries | 6222 | 698233 | 95.6 |
|  LeMaitre Vascular, Inc. | 7423 | 350217 | 47.9 |
|  LendingTree, Inc. | 31049 | 1231403 | 168.6 |
|  Liberty Latin America Ltd., Class A | 11907 | 117165 | 16.0 |
|  Liberty Media Corp.-Liberty Braves, Class A | 1680 | 59018 | 8.1 |
|  Ligand Pharmaceuticals, Inc. | 2990 | 208403 | 28.5 |
|  Lindblad Expeditions Holdings, Inc. | 4764 | 56692 | 7.8 |
|  Lindsay Corp. | 455 | 71262 | 9.8 |
|  Lions Gate Entertainment Corp., Class B | 10255 | 78143 | 10.7 |
|  Live Oak Bancshares, Inc. | 925 | 31663 | 4.3 |
|  LivePerson, Inc. | 35429 | 456325 | 62.5 |
|  LiveRamp Holdings, Inc. | 7934 | 212314 | 29.1 |
|  LSB Industries, Inc. | 26093 | 331642 | 45.4 |
|  Luther Burbank Corp. | 18855 | 221358 | 30.3 |
|  M/I Homes, Inc. | 7669 | 458606 | 62.8 |
|  Magnite, Inc. | 1300 | 15704 | 2.1 |
|  Malibu Boats, Inc., Class A | 18116 | 1097648 | 150.3 |
|  Marcus & Millichap, Inc. | 1845 | 66863 | 9.2 |
|  Marcus Corp. | 32198 | 487478 | 66.7 |
|  MarineMax, Inc. | 19050 | 595312 | 81.5 |
|  Marten Transport Ltd. | 10126 | 223683 | 30.6 |
|  Matson, Inc. | 3542 | 234197 | 32.1 |
|  Medifast, Inc. | 1452 | 161825 | 22.2 |
|  Mercantile Bank Corp. | 1263 | 43359 | 5.9 |
|  Merchants Bancorp | 2632 | 75723 | 10.4 |
|  Mercury General Corp. | 18651 | 666400 | 91.2 |
|  Metropolitan Bank Holding Corp. | 5482 | 325521 | 44.6 |
|  MFA Financial, Inc. | 26381 | 313670 | 42.9 |
|  Midland States Bancorp, Inc. | 38421 | 978967 | 134.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  MidWestOne Financial Group, Inc. | 5212 | $162354 | 22.2% |
|  MillerKnoll, Inc. | 3918 | 93562 | 12.8 |
|  Mister Car Wash, Inc. | 48368 | 496739 | 68 |
|  Mitek Systems, Inc. | 13993 | 137971 | 18.9 |
|  Model N, Inc. | 17460 | 692464 | 94.8 |
|  ModivCare, Inc. | 1883 | 201971 | 27.7 |
|  Moelis & Co., Class A | 8867 | 414532 | 56.8 |
|  Momentive Global, Inc. | 14605 | 112605 | 15.4 |
|  Monarch Casino & Resort, Inc. | 5374 | 411756 | 56.4 |
|  Monro, Inc. | 3094 | 157485 | 21.6 |
|  Montauk Renewables, Inc. | 1885 | 20942 | 2.9 |
|  Movado Group, Inc. | 1050 | 37128 | 5.1 |
|  Mr. Cooper Group, Inc. | 1721 | 79149 | 10.8 |
|  MRC Global, Inc. | 63157 | 858935 | 117.6 |
|  MSA Safety, Inc. | 350 | 47736 | 6.5 |
|  Mueller Industries, Inc. | 6394 | 419127 | 57.4 |
|  Myers Industries, Inc. | 4804 | 115680 | 15.8 |
|  Nabors Industries Ltd. | 3405 | 604524 | 82.8 |
|  Napco Security Technologies, Inc. | 10384 | 300824 | 41.2 |
|  National Beverage Corp. | 8623 | 381137 | 52.2 |
|  National Health Investors, Inc. | 1887 | 111012 | 15.2 |
|  National Research Corp. | 907 | 42103 | 5.8 |
|  Nektar Therapeutics, Class A | 83775 | 227868 | 31.2 |
|  NeoGenomics, Inc. | 7835 | 93080 | 12.7 |
|  NETGEAR, Inc. | 9343 | 186580 | 25.5 |
|  Nevro Corp. | 1402 | 51481 | 7 |
|  NexPoint Residential Trust, Inc. | 26869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1356884 | 185.8 |
|  NextGen Healthcare, Inc. | 13463 | 256066 | 35.1 |
|  Novavax, Inc. | 14970 | 163323 | 22.4 |
|  NOW, Inc. | 12597 | 176862 | 24.2 |
|  Nurix Therapeutics, Inc. | 1163 | 14293 | 2 |
|  NuVasive, Inc. | 415 | 18924 | 2.6 |
|  Oceaneering International, Inc. | 3251 | 69409 | 9.5 |
|  Office Properties Income Trust | 1786 | 30648 | 4.2 |
|  Old Second Bancorp, Inc. | 30701 | 521610 | 71.4 |
|  Omega Flex, Inc. | 236 | 25087 | 3.4 |
|  Omnicell, Inc. | 10406 | 577221 | 79 |
|  OPKO Health, Inc. | 6326 | 8161 | 1.1 |
|  Organogenesis Holdings, Inc., Class A | 7774 | 19901 | 2.7 |
|  Orthofix Medical, Inc. | 5973 | 129196 | 17.7 |
|  Oscar Health, Inc., Class A | 12809 | 49187 | 6.7 |
|  OSI Systems, Inc. | 82 | 7766 | 1.1 |
|  Otter Tail Corp. | 7825 | 501974 | 68.7 |
|  Oxford Industries, Inc. | 2502 | 293284 | 40.2 |
|  Pacira BioSciences, Inc. | 11682 | 458752 | 62.8 |
|  Pactiv Evergreen, Inc. | 3262 | 37546 | 5.1 |
|  PagerDuty, Inc. | 7641 | 227625 | 31.2 |
|  Palomar Holdings, Inc. | 3764 | 192378 | 26.3 |
|  Par Pacific Holdings, Inc. | 12757 | 340995 | 46.7 |
|  PAR Technology Corp. | 2236 | 76002 | 10.4 |
|  Paramount Group, Inc. | 28271 | 182348 | 25 |
|  Parsons Corp. | 234 | 10184 | 1.4 |
|  Patrick Industries, Inc. | 3599 | 255421 | 35 |
|  Paycor HCM, Inc. | 1869 | 46931 | 6.4 |
|  Payoneer Global, Inc. | 1976 | 11777 | 1.6 |
|  Pebblebrook Hotel Trust | 62622 | 1027001 | 140.6 |
|  Pegasystems, Inc. | 382 | 14852 | 2 |
|  Peoples Bancorp, Inc. | 20058 | 595121 | 81.5 |
|  PGT Innovations, Inc. | 25719 | 558102 | 76.4 |
|  Photronics, Inc. | 14539 | 263447 | 36.1 |
|  Phreesia, Inc. | 820 | 30742 | 4.2 |
|  PJT Partners, Inc., Class A | 667 | 53380 | 7.3 |

---

57.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Plains GP Holdings LP, Class A | 26298 | $344241 | 47.1% |
|  Playa Hotels & Resorts NV | 38757 | 293778 | 40.2 |
|  Premier Financial Corp. | 11883 | 297313 | 40.7 |
|  Prestige Consumer Healthcare, Inc. | 7574 | 498066 | 68.2 |
|  PriceSmart, Inc. | 1556 | 115626 | 15.8 |
|  Primoris Services Corp. | 5430 | 144438 | 19.8 |
|  PROG Holdings, Inc. | 1411 | 31451 | 4.3 |
|  ProPetro Holding Corp. | 4140 | 41193 | 5.6 |
|  PROS Holdings, Inc. | 20070 | 505764 | 69.2 |
|  Protagonist Therapeutics, Inc. | 6719 | 89295 | 12.2 |
|  Proto Labs, Inc. | 1607 | 49174 | 6.7 |
|  Q2 Holdings, Inc. | 21351 | 698605 | 95.6 |
|  Quaker Chemical Corp. | 2531 | 498278 | 68.2 |
|  Quanex Building Products Corp. | 3919 | 101463 | 13.9 |
|  QuinStreet, Inc. | 4911 | 75286 | 10.3 |
|  Rapid7, Inc. | 8184 | 326296 | 44.7 |
|  Rayonier, Inc. | 4910 | 178675 | 24.5 |
|  RE/MAX Holdings, Inc., Class A | 7898 | 180153 | 24.7 |
|  REGENXBIO, Inc., Registered Shares | 1931 | 44818 | 6.1 |
|  Repay Holdings Corp., Class A | 4895 | 47677 | 6.5 |
|  Revance Therapeutics, Inc. | 2289 | 79383 | 10.9 |
|  Revolve Group, Inc. | 8821 | 251751 | 34.5 |
|  REX American Resources Corp. | 1800 | 58896 | 8.1 |
|  RLJ Lodging Trust | 82150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1032625 | 141.4 |
|  RMR Group, Inc., Class A | 21744 | 674499 | 92.3 |
|  RPC, Inc. | 4214 | 41803 | 5.7 |
|  RPT Realty | 13772 | 144331 | 19.8 |
|  Rush Enterprises, Inc., Class A | 8387 | 451304 | 61.8 |
|  Rush Enterprises, Inc., Class B | 6678 | 388459 | 53.2 |
|  Sabre Corp. | 35892 | 244425 | 33.5 |
|  Safehold, Inc. | 4692 | 164043 | 22.5 |
|  Sandy Spring Bancorp, Inc. | 5677 | 191883 | 26.3 |
|  Sangamo Therapeutics, Inc. | 34132 | 119121 | 16.3 |
|  Sanmina Corp. | 1096 | 66779 | 9.1 |
|  ScanSource, Inc. | 1245 | 40998 | 5.6 |
|  Schnitzer Steel Industries, Inc., Class A | 271 | 9171 | 1.3 |
|  Scholastic Corp. | 5613 | 248319 | 34.0 |
|  Semtech Corp. | 6367 | 210302 | 28.8 |
|  Seritage Growth Properties | 5097 | 61929 | 8.5 |
|  Service Properties Trust | 2345 | 20894 | 2.9 |
|  Shoe Carnival, Inc. | 1602 | 43751 | 6.0 |
|  Shutterstock, Inc. | 7032 | 529299 | 72.5 |
|  Shyft Group, Inc. | 5934 | 197543 | 27.0 |
|  Signet Jewelers Ltd. | 3478 | 267145 | 36.6 |
|  Simpson Manufacturing Co., Inc. | 2658 | 284698 | 39.0 |
|  Simulations Plus, Inc. | 2712 | 111572 | 15.3 |
|  Sinclair Broadcast Group, Inc., Class A | 14018 | 289191 | 39.6 |
|  Sitio Royalties Corp., Class A | 1 | 14 | 0.0 |
|  Skyline Champion Corp. | 3151 | 185751 | 25.4 |
|  SL Green Realty Corp. | 12390 | 509848 | 69.8 |
|  SmartFinancial, Inc. | 308 | 8307 | 1.1 |
|  SpartanNash Co. | 3599 | 114016 | 15.6 |
|  Sportsman's Warehouse Holdings, Inc. | 6344 | 59824 | 8.2 |
|  SPX Technologies, Inc. | 1348 | 101113 | 13.8 |
|  STAAR Surgical Co. | 5476 | 386332 | 52.9 |
|  Standard Motor Products, Inc. | 1459 | 59031 | 8.1 |
|  Sterling Infrastructure, Inc. | 10907 | 396906 | 54.3 |
|  Steven Madden Ltd. | 8407 | 301391 | 41.3 |
|  Stitch Fix, Inc., Class A | 48776 | 254123 | 34.8 |
|  Stoke Therapeutics, Inc. | 10440 | 103982 | 14.2 |
|  Stride, Inc. | 635 | 27261 | 3.7 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Summit Hotel Properties, Inc. | 7309 | $62273 | 8.5% |
|  Summit Materials, Inc., Class A | 1 | 30 | 0.0 |
|  SunCoke Energy, Inc. | 6343 | 57785 | 7.9 |
|  Sunnova Energy International, Inc. | 8795 | 171327 | 23.5 |
|  Supernus Pharmaceuticals, Inc. | 20640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846446 | 115.9 |
|  Sylvamo Corp. | 807 | 38357 | 5.3 |
|  Tandem Diabetes Care, Inc. | 3205 | 130572 | 17.9 |
|  Target Hospitality Corp. | 5357 | 82257 | 11.3 |
|  TechTarget, Inc. | 4452 | 220508 | 30.2 |
|  Thryv Holdings, Inc. | 3634 | 81293 | 11.1 |
|  Titan International, Inc. | 1531 | 25552 | 3.5 |
|  Titan Machinery, Inc. | 4041 | 177562 | 24.3 |
|  Travere Therapeutics, Inc. | 11453 | 256547 | 35.1 |
|  Tri Pointe Homes, Inc. | 15272 | 337358 | 46.2 |
|  TriNet Group, Inc. | 8309 | 626914 | 85.8 |
|  Triumph Financial, Inc. | 601 | 33494 | 4.6 |
|  TrueBlue, Inc. | 19221 | 377308 | 51.7 |
|  Turning Point Brands, Inc. | 9932 | 230522 | 31.6 |
|  Tutor Perini Corp. | 45180 | 414301 | 56.7 |
|  U.S. Cellular Corp. | 11537 | 282195 | 38.6 |
|  U.S. Silica Holdings, Inc. | 55863 | 683763 | 93.6 |
|  Ultragenyx Pharmaceutical, Inc. | 6701 | 303756 | 41.6 |
|  Under Armour, Inc., Class C | 845 | 9210 | 1.3 |
|  United Fire Group, Inc. | 17349 | 546320 | 74.8 |
|  Unitil Corp. | 2703 | 141015 | 19.3 |
|  Univest Financial Corp. | 12206 | 331393 | 45.4 |
|  Upwork, Inc. | 32043 | 415277 | 56.9 |
|  Urban Outfitters, Inc. | 3547 | 97152 | 13.3 |
|  USANA Health Sciences, Inc. | 8092 | 472896 | 64.7 |
|  UWM Holdings Corp. | 10229 | 46849 | 6.4 |
|  V2X, Inc. | 2333 | 103025 | 14.1 |
|  Vanda Pharmaceuticals, Inc. | 36343 | 279114 | 38.2 |
|  Varex Imaging Corp. | 7375 | 158489 | 21.7 |
|  Varonis Systems, Inc., Class B | 4374 | 113024 | 15.5 |
|  Veeco Instruments, Inc. | 10462 | 207775 | 28.4 |
|  Veracyte, Inc. | 4022 | 101073 | 13.8 |
|  Vericel Corp. | 913 | 25080 | 3.4 |
|  Verint Systems, Inc. | 19210 | 729404 | 99.9 |
|  Veritex Holdings, Inc. | 11424 | 321586 | 44.0 |
|  Veritiv Corp. | 407 | 50891 | 7.0 |
|  Viad Corp. | 1260 | 37233 | 5.1 |
|  Vicor Corp. | 3880 | 269388 | 36.9 |
|  Victory Capital Holdings, Inc., Class A | 10569 | 313265 | 42.9 |
|  ViewRay, Inc. | 6532 | 29982 | 4.1 |
|  Vimeo, Inc. | 26077 | 118390 | 16.2 |
|  Virtus Investment Partners, Inc. | 55 | 11818 | 1.6 |
|  Vishay Precision Group, Inc. | 410 | 17704 | 2.4 |
|  Vital Farms, Inc. | 13820 | 242956 | 33.3 |
|  Winmark Corp. | 3251 | 912881 | 125.0 |
|  Wolverine World Wide, Inc. | 858 | 13840 | 1.9 |
|  World Fuel Services Corp. | 11533 | 326384 | 44.7 |
|  Xencor, Inc. | 5704 | 187776 | 25.7 |
|  Xerox Holdings Corp. | 9984 | 163538 | 22.4 |
|  XPEL, Inc. | 636 | 48381 | 6.6 |
|  Yelp, Inc., Class A | 17282 | 544556 | 74.6 |
|  Yext, Inc. | 55374 | 384849 | 52.7 |
|  Zeta Global Holdings Corp., Class A | 25599 | 232439 | 31.8 |
|  ZipRecruiter, Inc., Class A | 18547 | 364263 | 49.9 |

---

S C H E D U L E O F I N V E S T M E N T S 58

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Zumiez, Inc. | 14395 | $371823 | 50.9% |
|  Zuora, Inc., Class A | 67182 | 532081 | 72.8 |
|  |  | 109349987 |  |
| **Preferred Stocks** |  |  |  |
| **Germany** |  |  |  |
|  Schaeffler AG | 94518 | 678402 | 92.9 |
|  **Total Reference Entity — Long** |  | 215464952 |  |
|  **Reference Entity — Short** | **Reference Entity — Short** |  |  |
| **Common Stocks** |  |  |  |
| **Australia** |  |  |  |
|  Aussie Broadband Ltd. | (5487) | (11704) | (1.6) |
|  Australian Clinical Labs Ltd. | (10194) | (22379) | (3.1) |
|  Bapcor Ltd. | (2317) | (10478) | (1.4) |
|  Bega Cheese Ltd. | (76465) | (210462) | (28.8) |
|  Bellevue Gold Ltd. | (193505) | (164182) | (22.5) |
|  Blackmores Ltd. | (1015) | (63043) | (8.6) |
|  Boss Energy Ltd. | (5146) | (9463) | (1.3) |
|  Breville Group Ltd. | (6948) | (112022) | (15.3) |
|  Capricorn Metals Ltd. | (65524) | (211240) | (28.9) |
|  Centuria Industrial REIT | (58636) | (139418) | (19.1) |
|  Charter Hall Long Wale REIT | (42540) | (137669) | (18.8) |
|  Collins Foods Ltd. | (2731) | (15583) | (2.1) |
|  Corporate Travel Management Ltd. | (10812) | (141693) | (19.4) |
|  Costa Group Holdings Ltd. | (14982) | (31170) | (4.3) |
|  De Grey Mining Ltd. | (113245) | (120005) | (16.4) |
|  Dicker Data Ltd. | (3531) | (26654) | (3.7) |
|  G8 Education Ltd. | (144555) | (128574) | (17.6) |
|  Grange Resources Ltd. | (201028) | (145060) | (19.9) |
|  GUD Holdings Ltd. | (26118) | (155156) | (21.2) |
|  Hansen Technologies Ltd. | (20544) | (77625) | (10.6) |
|  Healius Ltd. | (135970) | (310194) | (42.5) |
|  HomeCo Daily Needs REIT | (194545) | (186737) | (25.6) |
|  Imugene Ltd. | (1689376) | (163457) | (22.4) |
|  Ingenia Communities Group | (49164) | (161911) | (22.2) |
|  Inghams Group Ltd. | (498662) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1025171) | (140.4) |
|  Integral Diagnostics Ltd. | (4946) | (11204) | (1.5) |
|  InvoCare Ltd. | (76358) | (624031) | (85.4) |
|  IRESS Ltd. | (62737) | (442730) | (60.6) |
|  Jervois Global Ltd. | (491844) | (85676) | (11.7) |
|  Karoon Energy Ltd. | (72076) | (119229) | (16.3) |
|  Kelsian Group Ltd. | (51286) | (212702) | (29.1) |
|  Leo Lithium Ltd. | (291767) | (127275) | (17.4) |
|  Link Administration Holdings Ltd. | (100114) | (136451) | (18.7) |
|  Mayne Pharma Group Ltd. | (1638) | (3507) | (0.5) |
|  Megaport Ltd. | (8901) | (37021) | (5.1) |
|  nib holdings Ltd. | (20239) | (112825) | (15.4) |
|  Nickel Industries Ltd. | (86758) | (67834) | (9.3) |
|  OceanaGold Corp. | (150137) | (324974) | (44.5) |
|  Omni Bridgeway Ltd. | (115846) | (332580) | (45.5) |
|  Paladin Energy Ltd. | (297941) | (181692) | (24.9) |
|  PEXA Group Ltd. | (6392) | (59016) | (8.1) |
|  PointsBet Holdings Ltd. | (323085) | (325567) | (44.6) |
|  Sayona Mining Ltd. | (1864871) | (348806) | (47.8) |
|  Select Harvests Ltd. | (19123) | (54123) | (7.4) |
|  Sigma Healthcare Ltd. | (274831) | (123508) | (16.9) |
|  Super Retail Group Ltd. | (33642) | (303588) | (41.6) |
|  Telix Pharmaceuticals Ltd. | (34174) | (173053) | (23.7) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Australia (continued)** |  |  |  |
|  United Malt Group Ltd. | (139838) | $(361582) | (49.5)% |
|  Webjet Ltd. | (5788) | (28209) | (3.9) |
|  West African Resources Ltd. | (72782) | (57675) | (7.9) |
|  |  | (8435908) |  |
| **Austria** |  |  |  |
|  EVN AG | (1277) | (26945) | (3.7) |
|  Semperit AG Holding | (6932) | (170254) | (23.3) |
|  |  | (197199) |  |
| **Bahamas** |  |  |  |
|  OneSpaWorld Holdings Ltd. | (5172) | (54358) | (7.4) |
| **Belgium** |  |  |  |
|  Aedifica SA | (2660) | (233420) | (32.0) |
|  Bekaert SA | (11055) | (466355) | (63.8) |
|  Biocartis Group NV | (30) | (23) | (0.0) |
|  bpost SA | (65006) | (352429) | (48.2) |
|  Cofinimmo SA | (7721) | (702295) | (96.2) |
|  Kinepolis Group NV | (8743) | (370097) | (50.7) |
|  Telenet Group Holding NV | (9565) | (164873) | (22.6) |
|  Tessenderlo Group SA | (2092) | (73981) | (10.1) |
|  VGP NV | (1266) | (126500) | (17.3) |
|  Xior Student Housing NV | (1561) | (52445) | (7.2) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2542418) |  |
| **Bermuda** |  |  |  |
|  Cool Co. Ltd. | (8369) | (88660) | (12.2) |
|  Flow Traders Ltd. | (12527) | (322219) | (44.1) |
|  |  | (410879) |  |
| **Brazil** |  |  |  |
|  ERO Copper Corp. | (15699) | (257805) | (35.3) |
| **Canada** |  |  |  |
|  Absolute Software Corp. | (20055) | (233627) | (32.0) |
|  Adentra, Inc. | (11090) | (268384) | (36.7) |
|  Advantage Energy Ltd. | (7555) | (47128) | (6.4) |
|  Ag Growth International, Inc. | (2315) | (86664) | (11.9) |
|  Algoma Steel Group, Inc. | (11739) | (98461) | (13.5) |
|  Allied Properties Real Estate Investment Trust | (321) | (7160) | (1.0) |
|  Altus Group Ltd. | (3239) | (138611) | (19.0) |
|  ATS Corp. | (4612) | (186761) | (25.6) |
|  Aurinia Pharmaceuticals, Inc. | (23096) | (209019) | (28.6) |
|  Brookfield Asset Management Ltd., Class A | (838) | (27359) | (3.7) |
|  Brookfield Reinsurance Ltd. | (2990) | (111596) | (15.3) |
|  Canadian Western Bank | (655) | (13843) | (1.9) |
|  Choice Properties Real Estate Investment Trust | (54605) | (614360) | (84.1) |
|  Cogeco, Inc. | (4231) | (188599) | (25.8) |
|  Converge Technology Solutions Corp. | (67529) | (292336) | (40.0) |
|  Definity Financial Corp. | (2634) | (70970) | (9.7) |
|  Denison Mines Corp. | (81294) | (116697) | (16.0) |
|  Dye & Durham Ltd. | (20961) | (335237) | (45.9) |
|  Enerflex Ltd. | (32675) | (235752) | (32.3) |
|  Filo Mining Corp. | (24828) | (443920) | (60.8) |
|  Frontera Energy Corp. | (6037) | (55082) | (7.5) |
|  Headwater Exploration, Inc. | (42838) | (209272) | (28.6) |
|  InterRent Real Estate Investment Trust | (3727) | (40364) | (5.5) |
|  Jamieson Wellness, Inc. | (1143) | (31845) | (4.4) |
|  K92 Mining, Inc. | (2009) | (11626) | (1.6) |
|  Lassonde Industries, Inc., Class A | (53) | (4654) | (0.6) |
|  MAG Silver Corp. | (16914) | (232249) | (31.8) |

---

59.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Canada (continued)** | **Canada (continued)** | **Canada (continued)** | **Canada (continued)** |
|  Maple Leaf Foods, Inc. | (40537) | $(770494) | (105.5)% |
|  Minto Apartment Real Estate Investment Trust | (23096) | (294049) | (40.3) |
|  NorthWest Healthcare Properties Real Estate Investment Trust | (11294) | (85476) | (11.7) |
|  Obsidian Energy Ltd. | (990) | (6563) | (0.9) |
|  Orla Mining Ltd. | (19756) | (85227) | (11.7) |
|  Pipestone Energy Corp. | (257854) | (573633) | (78.5) |
|  Pollard Banknote Ltd. | (7921) | (111801) | (15.3) |
|  Premium Brands Holdings Corp., Class A | (6924) | (484167) | (66.3) |
|  Primaris Real Estate Investment Trust | (10445) | (119872) | (16.4) |
|  Seabridge Gold, Inc. | (939) | (12350) | (1.7) |
|  SilverCrest Metals, Inc. | (63206) | (413282) | (56.6) |
|  Skeena Resources Ltd. | (123891) | (738383) | (101.1) |
|  Solaris Resources, Inc. | (1390) | (7261) | (1.0) |
|  Spartan Delta Corp. | (24683) | (278821) | (38.2) |
|  Stella-Jones, Inc. | (11628) | (423154) | (57.9) |
|  StorageVault Canada, Inc. | (106774) | (515995) | (70.6) |
|  Superior Plus Corp. | (29318) | (237091) | (32.5) |
|  Tucows, Inc., Class A | (1405) | (46604) | (6.4) |
|  Uni-Select, Inc. | (5361) | (159877) | (21.9) |
|  Uranium Energy Corp. | (47581) | (191751) | (26.3) |
|  Victoria Gold Corp. | (1318) | (10391) | (1.4) |
|  Winpak Ltd. | (6570) | (205215) | (28.1) |
|  Xenon Pharmaceuticals, Inc. | (9107) | (355993) | (48.7) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10439026) |  |
| **China** |  |  |  |
|  E-Commodities Holdings Ltd. | (118000) | (24889) | (3.4) |
|  Fosun Tourism Group | (160200) | (231096) | (31.7) |
|  |  | (255985) |  |
| **Cyprus** |  |  |  |
|  Atalaya Mining PLC | (7193) | (30949) | (4.2) |
| **Denmark** |  |  |  |
|  Cadeler A/S | (52199) | (217281) | (29.7) |
|  NTG Nordic Transport Group A/S | (3743) | (153058) | (21.0) |
|  |  | (370339) |  |
| **Faeroe Islands** |  |  |  |
|  Bakkafrost P/F | (252) | (15590) | (2.1) |
| **Finland** |  |  |  |
|  Aktia Bank OYJ | (15346) | (181516) | (24.9) |
|  Kemira OYJ | (5955) | (96616) | (13.2) |
|  Metsa Board OYJ, Class B | (34224) | (305502) | (41.8) |
|  Puuilo OYJ | (17825) | (122668) | (16.8) |
|  Sanoma OYJ | (15438) | (164217) | (22.5) |
|  Talenom OYJ | (984) | (9724) | (1.3) |
|  TietoEVRY OYJ | (7845) | (238912) | (32.7) |
|  Tokmanni Group Corp. | (41872) | (539881) | (73.9) |
|  |  | (1659036) |  |
| **France** |  |  |  |
|  ABC arbitrage | (7452) | (52497) | (7.2) |
|  Altarea SCA | (1621) | (220933) | (30.2) |
|  Alten SA | (904) | (138905) | (19.0) |
|  Antin Infrastructure Partners SA | (20293) | (457115) | (62.6) |
|  CGG SA | (596926) | (502708) | (68.8) |
|  Etablissements Maurel et Prom SA | (3787) | (15217) | (2.1) |
|  Euroapi SA | (16456) | (264148) | (36.2) |
|  Fnac Darty SA | (2966) | (110078) | (15.1) |
|  Maisons du Monde SA | (5549) | (68241) | (9.3) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **France (continued)** | **France (continued)** | **France (continued)** | **France (continued)** |
|  Mercialys SA | (19660) | $(218340) | (29.9)% |
|  Metropole Television SA | (1414) | (22521) | (3.1) |
|  Societe BIC SA | (2385) | (173165) | (23.7) |
|  Sopra Steria Group SACA | (2176) | (361919) | (49.5) |
|  Trigano SA | (1905) | (265547) | (36.4) |
|  Voltalia SA, Registered Shares | (1046) | (19764) | (2.7) |
|  |  | (2891098) |  |
| **Germany** |  |  |  |
|  About You Holding SE | (2018) | (13266) | (1.8) |
|  Auto1 Group SE | (892) | (7226) | (1.0) |
|  BayWa AG | (6347) | (289466) | (39.6) |
|  CECONOMY AG | (21772) | (53395) | (7.3) |
|  Cewe Stiftung & Co. KGAA | (2708) | (268409) | (36.8) |
|  CompuGroup Medical SE & Co. KgaA | (1686) | (79018) | (10.8) |
|  Energiekontor AG | (954) | (81851) | (11.2) |
|  Hamborner REIT AG | (15532) | (121568) | (16.7) |
|  Hamburger Hafen und Logistik AG | (2911) | (41113) | (5.6) |
|  Indus Holding AG | (2821) | (74585) | (10.2) |
|  Instone Real Estate Group SE | (6345) | (64746) | (8.9) |
|  Jenoptik AG | (10206) | (317183) | (43.4) |
|  JOST Werke AG | (2262) | (130971) | (17.9) |
|  Medios AG | (7683) | (150633) | (20.6) |
|  PNE AG | (11507) | (206718) | (28.3) |
|  SGL Carbon SE | (18608) | (161257) | (22.1) |
|  Sixt SE | (294) | (22310) | (3.1) |
|  Software AG | (4277) | (119202) | (16.3) |
|  Stroeer SE & Co. KGaA | (7052) | (386668) | (53.0) |
|  Suedzucker AG | (13651) | (221463) | (30.3) |
|  Synlab AG | (8942) | (98233) | (13.5) |
|  Takkt AG | (7529) | (116416) | (15.9) |
|  Vossloh AG | (200) | (8814) | (1.2) |
|  Wuestenrot & Wuerttembergische AG | (4652) | (84931) | (11.6) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3119442) |  |
| **Hong Kong** |  |  |  |
|  Apollo Future Mobility Group Ltd. | (212000) | (5530) | (0.8) |
|  CK Life Sciences International Holdings, Inc. | (486000) | (50381) | (6.9) |
|  EC Healthcare | (63000) | (75606) | (10.3) |
|  Pacific Textiles Holdings Ltd. | (40000) | (14400) | (2.0) |
|  Prosperity REIT | (655000) | (190567) | (26.1) |
|  SUNeVision Holdings Ltd. | (160000) | (92783) | (12.7) |
|  Viva China Holdings Ltd. | (104000) | (18919) | (2.6) |
|  |  | (448186) |  |
| **Ireland** |  |  |  |
|  C&C Group PLC | (425643) | (845882) | (115.8) |
|  Cairn Homes PLC | (80431) | (85503) | (11.7) |
|  COSMO Pharmaceuticals NV | (1022) | (74236) | (10.2) |
|  Keywords Studios PLC | (6776) | (237996) | (32.6) |
|  Prothena Corp. PLC | (897) | (50725) | (6.9) |
|  |  | (1294342) |  |
| **Israel** |  |  |  |
|  Camtek Ltd. | (3382) | (89214) | (12.2) |
|  Innovid Corp. | (7537) | (16958) | (2.3) |
|  Isracard Ltd. | (2889) | (9739) | (1.3) |
|  JFrog Ltd. | (585) | (15040) | (2.1) |
|  Nano Dimension Ltd., ADR | (14727) | (40647) | (5.6) |

---

S C H E D U L E O F I N V E S T M E N T S 60

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Israel (continued)** |  |  |  |
|  Perion Network Ltd. | (4089) | $(137535) | (18.8)% |
|  Taro Pharmaceutical Industries Ltd. | (2004) | (59759) | (8.2) |
|  |  | (368892) |  |
| **Italy** |  |  |  |
|  Antares Vision SpA | (15769) | (146361) | (20.0) |
|  Ariston Holding NV | (2749) | (28451) | (3.9) |
|  Banca Farmafactoring SpA | (1238) | (11449) | (1.6) |
|  Digital Bros SpA | (14669) | (347024) | (47.5) |
|  doValue SpA | (5973) | (48656) | (6.7) |
|  Enav SpA | (6426) | (29585) | (4.0) |
|  Fila SpA | (9028) | (70229) | (9.6) |
|  Gruppo MutuiOnline SpA | (803) | (25591) | (3.5) |
|  GVS SpA | (4019) | (21234) | (2.9) |
|  Illimity Bank SpA | (8037) | (65947) | (9.0) |
|  Industrie De Nora SpA | (6985) | (130005) | (17.8) |
|  Italmobiliare SpA | (263) | (7045) | (1.0) |
|  MFE-MediaForEurope NV, Class A | (493810) | (216411) | (29.6) |
|  Technogym SpA | (30053) | (266568) | (36.5) |
|  Technoprobe SpA | (4634) | (34063) | (4.7) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1448619) |  |
| **Japan** |  |  |  |
|  77 Bank Ltd. | (2200) | (39291) | (5.4) |
|  ADEKA Corp. | (19300) | (326580) | (44.7) |
|  Aeon Hokkaido Corp. | (6600) | (46322) | (6.3) |
|  Aichi Financial Group, Inc. | (1800) | (32149) | (4.4) |
|  Aiful Corp. | (94500) | (285720) | (39.1) |
|  Airtrip Corp. | (20500) | (420583) | (57.6) |
|  Alpha Systems, Inc. | (3600) | (116705) | (16.0) |
|  Appier Group, Inc. | (35500) | (453885) | (62.1) |
|  ARCLANDS Corp. | (70000) | (788686) | (108.0) |
|  Arcs Co. Ltd. | (1700) | (28729) | (3.9) |
|  ARTERIA Networks Corp. | (20300) | (196143) | (26.9) |
|  Asahi Holdings, Inc. | (43400) | (682826) | (93.5) |
|  Atom Corp. | (55400) | (338903) | (46.4) |
|  Awa Bank Ltd. | (27600) | (464492) | (63.6) |
|  Axial Retailing, Inc. | (5300) | (143696) | (19.7) |
|  Belc Co. Ltd. | (3600) | (155113) | (21.2) |
|  Bushiroad, Inc. | (2000) | (10476) | (1.4) |
|  Cawachi Ltd. | (1400) | (24186) | (3.3) |
|  Chofu Seisakusho Co. Ltd. | (3500) | (56963) | (7.8) |
|  COLOPL, Inc. | (29300) | (150038) | (20.5) |
|  Colowide Co. Ltd. | (20100) | (284730) | (39.0) |
|  Daiho Corp. | (2000) | (56471) | (7.7) |
|  Daiki Aluminium Industry Co. Ltd. | (65500) | (726087) | (99.4) |
|  Daikokutenbussan Co. Ltd. | (4200) | (175904) | (24.1) |
|  Daishi Hokuetsu Financial Group, Inc. | (43000) | (1025906) | (140.5) |
|  Daiwabo Holdings Co. Ltd. | (23000) | (348126) | (47.7) |
|  DCM Holdings Co. Ltd. | (18300) | (166540) | (22.8) |
|  Dexerials Corp. | (800) | (17101) | (2.3) |
|  Duskin Co. Ltd. | (2400) | (56092) | (7.7) |
|  Earth Corp. | (1900) | (74180) | (10.2) |
|  EDION Corp. | (23900) | (236057) | (32.3) |
|  eRex Co. Ltd. | (6500) | (120321) | (16.5) |
|  ES-Con Japan Ltd. | (58700) | (379447) | (51.9) |
|  Exedy Corp. | (58200) | (782855) | (107.2) |
|  Fuji Seal International, Inc. | (8600) | (111771) | (15.3) |
|  Fuji Soft, Inc. | (2700) | (161156) | (22.1) |
|  Fujicco Co. Ltd. | (4600) | (66896) | (9.2) |
|  Fujio Food Group, Inc. | (41200) | (448635) | (61.4) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Fujitec Co. Ltd. | (17900) | $(443511) | (60.7)% |
|  Fukushima Galilei Co. Ltd. | (2800) | (95045) | (13.0) |
|  GLOBERIDE, Inc. | (19900) | (408008) | (55.9) |
|  Glory Ltd. | (66400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1161343) | (159.0) |
|  GMO Financial Gate, Inc. | (1200) | (76829) | (10.5) |
|  GMO Financial Holdings, Inc. | (24900) | (105905) | (14.5) |
|  GMO GlobalSign Holdings KK | (3200) | (106659) | (14.6) |
|  Gunze Ltd. | (300) | (9879) | (1.3) |
|  Hakuto Co. Ltd. | (2800) | (98015) | (13.4) |
|  Hanwa Co. Ltd. | (1400) | (44578) | (6.1) |
|  Heiwa Real Estate REIT, Inc. | (94) | (109323) | (15.0) |
|  Hirata Corp. | (6300) | (311704) | (42.7) |
|  HIS Co. Ltd. | (6700) | (109790) | (15.0) |
|  Hogy Medical Co. Ltd. | (2800) | (72721) | (10.0) |
|  Hokuetsu Corp. | (80800) | (520146) | (71.2) |
|  Hokuhoku Financial Group, Inc. | (25800) | (204335) | (28.0) |
|  Hokuto Corp. | (29100) | (422958) | (57.9) |
|  Hoshino Resorts REIT, Inc. | (19) | (108850) | (14.9) |
|  Hyakugo Bank Ltd. | (121700) | (393046) | (53.8) |
|  Ichibanya Co. Ltd. | (2100) | (76411) | (10.5) |
|  Idec Corp. | (1800) | (42861) | (5.9) |
|  Inabata & Co. Ltd. | (2600) | (50468) | (6.9) |
|  Inageya Co. Ltd. | (4800) | (48001) | (6.6) |
|  Insource Co. Ltd. | (7100) | (79879) | (10.9) |
|  IR Japan Holdings Ltd. | (4400) | (62026) | (8.5) |
|  Iriso Electronics Co. Ltd. | (4700) | (157723) | (21.6) |
|  Itochu Advance Logistics Investment Corp. | (135) | (145216) | (19.9) |
|  Itochu Enex Co. Ltd. | (4600) | (39428) | (5.4) |
|  Itochu-Shokuhin Co. Ltd. | (1000) | (38811) | (5.3) |
|  J Trust Co. Ltd. | (9000) | (39529) | (5.4) |
|  Jaccs Co. Ltd. | (4900) | (158075) | (21.6) |
|  Japan Display, Inc. | (380400) | (129172) | (17.7) |
|  Japan Elevator Service Holdings Co. Ltd. | (4600) | (64939) | (8.9) |
|  JDC Corp. | (5000) | (21415) | (2.9) |
|  J-Oil Mills, Inc. | (14400) | (174930) | (23.9) |
|  JTOWER, Inc. | (6600) | (316123) | (43.3) |
|  Juroku Financial Group, Inc. | (2700) | (64975) | (8.9) |
|  Kameda Seika Co. Ltd. | (1800) | (60879) | (8.3) |
|  Kanamoto Co. Ltd. | (6100) | (106097) | (14.5) |
|  Kanto Denka Kogyo Co. Ltd. | (29600) | (229784) | (31.5) |
|  Kappa Create Co. Ltd. | (17400) | (190012) | (26.0) |
|  Katakura Industries Co. Ltd. | (9400) | (127669) | (17.5) |
|  Keiyo Bank Ltd. | (19900) | (94523) | (12.9) |
|  KH Neochem Co. Ltd. | (14800) | (315451) | (43.2) |
|  Kisoji Co. Ltd. | (24100) | (398706) | (54.6) |
|  Ki-Star Real Estate Co. Ltd. | (28400) | (1080391) | (147.9) |
|  Kiyo Bank Ltd. | (55000) | (699136) | (95.7) |
|  Koa Corp. | (17400) | (253622) | (34.7) |
|  Kohnan Shoji Co. Ltd. | (19500) | (502387) | (68.8) |
|  Komeri Co. Ltd. | (18300) | (375405) | (51.4) |
|  Konishi Co. Ltd. | (12600) | (178613) | (24.5) |
|  Kura Sushi, Inc. | (400) | (9293) | (1.3) |
|  KYB Corp. | (17500) | (495936) | (67.9) |
|  KYORIN Holdings, Inc. | (15500) | (205448) | (28.1) |
|  Leopalace21 Corp. | (140700) | (349205) | (47.8) |
|  LITALICO, Inc. | (4700) | (95950) | (13.1) |
|  Management Solutions Co. Ltd. | (8500) | (230910) | (31.6) |
|  Maruha Nichiro Corp. | (17700) | (336088) | (46.0) |
|  MARUKA FURUSATO Corp. | (400) | (10760) | (1.5) |
|  Maruwa Co. Ltd. | (2300) | (294008) | (40.2) |
|  Maxvalu Tokai Co. Ltd. | (800) | (17351) | (2.4) |

---

61.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Meiko Electronics Co. Ltd. | (10200) | $(228655) | (31.3)% |
|  Micronics Japan Co. Ltd. | (11400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(122284) | (16.7) |
|  Mitani Sekisan Co. Ltd. | (4400) | (143761) | (19.7) |
|  Mitsubishi Estate Logistics REIT Investment Corp. | (87) | (273467) | (37.4) |
|  Mitsubishi Research Institute, Inc. | (1900) | (73926) | (10.1) |
|  Mitsuuroko Group Holdings Co. Ltd. | (11900) | (108086) | (14.8) |
|  Mizuno Corp. | (2500) | (56724) | (7.8) |
|  Modec, Inc. | (7800) | (84896) | (11.6) |
|  Mori Trust Hotel REIT, Inc. | (94) | (97378) | (13.3) |
|  Musashi Seimitsu Industry Co. Ltd. | (2600) | (35831) | (4.9) |
|  Nachi-Fujikoshi Corp. | (16600) | (501907) | (68.7) |
|  Nafco Co. Ltd. | (1900) | (23835) | (3.3) |
|  Nagawa Co. Ltd. | (8600) | (528769) | (72.4) |
|  Nanto Bank Ltd. | (11900) | (246848) | (33.8) |
|  Nippon Carbon Co. Ltd. | (24100) | (820744) | (112.4) |
|  Nishio Rent All Co. Ltd. | (3400) | (82018) | (11.2) |
|  Nissha Co. Ltd. | (33600) | (499918) | (68.4) |
|  Nojima Corp. | (13900) | (149215) | (20.4) |
|  Noritz Corp. | (11900) | (137571) | (18.8) |
|  NS United Kaiun Kaisha Ltd. | (17500) | (527040) | (72.2) |
|  NTT UD REIT Investment Corp. | (119) | (121366) | (16.6) |
|  Ogaki Kyoritsu Bank Ltd. | (29600) | (443834) | (60.8) |
|  Oisix ra daichi, Inc. | (31800) | (536646) | (73.5) |
|  Okasan Securities Group, Inc. | (18200) | (58866) | (8.1) |
|  One REIT, Inc. | (264) | (500422) | (68.5) |
|  Open Door, Inc. | (45500) | (642875) | (88.0) |
|  Optorun Co. Ltd. | (4700) | (92747) | (12.7) |
|  Organo Corp. | (14800) | (376206) | (51.5) |
|  Osaka Soda Co. Ltd. | (2800) | (91516) | (12.5) |
|  Outsourcing, Inc. | (75000) | (582840) | (79.8) |
|  Pacific Industrial Co. Ltd. | (26800) | (222172) | (30.4) |
|  PAL GROUP Holdings Co. Ltd. | (5900) | (126532) | (17.3) |
|  Pharma Foods International Co. Ltd. | (44100) | (452431) | (61.9) |
|  Pilot Corp. | (1900) | (67815) | (9.3) |
|  Raksul, Inc. | (32200) | (348574) | (47.7) |
|  Riken Keiki Co. Ltd. | (7600) | (271105) | (37.1) |
|  Riken Vitamin Co. Ltd. | (600) | (8895) | (1.2) |
|  Ringer Hut Co. Ltd. | (500) | (8723) | (1.2) |
|  Roland Corp. | (8000) | (238862) | (32.7) |
|  Rorze Corp. | (7200) | (553445) | (75.8) |
|  Ryosan Co. Ltd. | (7700) | (174498) | (23.9) |
|  Ryoyo Electro Corp. | (800) | (14300) | (2.0) |
|  Saibu Gas Holdings Co. Ltd. | (8000) | (113094) | (15.5) |
|  Sakata INX Corp. | (7500) | (63201) | (8.6) |
|  SAMTY Co. Ltd. | (17700) | (279556) | (38.3) |
|  Samty Residential Investment Corp. | (24) | (20124) | (2.8) |
|  San-Ai Oil Co. Ltd. | (4600) | (47859) | (6.5) |
|  SanBio Co. Ltd. | (4700) | (26920) | (3.7) |
|  San-In Godo Bank Ltd. | (6000) | (37321) | (5.1) |
|  Sanki Engineering Co. Ltd. | (16700) | (200519) | (27.5) |
|  Sansan, Inc. | (20600) | (256928) | (35.2) |
|  Sanyo Denki Co. Ltd. | (7100) | (344191) | (47.1) |
|  SBS Holdings, Inc. | (7800) | (178111) | (24.4) |
|  Sekisui Jushi Corp. | (600) | (9107) | (1.2) |
|  Senko Group Holdings Co. Ltd. | (26700) | (206520) | (28.3) |
|  Shibuya Corp. | (4000) | (78002) | (10.7) |
|  Shiga Bank Ltd. | (11500) | (239370) | (32.8) |
|  Shima Seiki Manufacturing Ltd. | (1800) | (27268) | (3.7) |
|  Shin Nippon Biomedical Laboratories Ltd. | (8800) | (158421) | (21.7) |
|  Showa Sangyo Co. Ltd. | (5100) | (99496) | (13.6) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Simplex Holdings, Inc. | (21700) | $(381205) | (52.2)% |
|  SOSiLA Logistics REIT, Inc. | (195) | (194108) | (26.6) |
|  Sparx Group Co. Ltd. | (600) | (8400) | (1.1) |
|  T Hasegawa Co. Ltd. | (15600) | (381898) | (52.3) |
|  Tenma Corp. | (17300) | (295394) | (40.4) |
|  Toa Corp. | (11600) | (224718) | (30.8) |
|  Toagosei Co. Ltd. | (14700) | (133402) | (18.3) |
|  TOC Co. Ltd. | (2200) | (11530) | (1.6) |
|  Toho Bank Ltd. | (257600) | (478173) | (65.5) |
|  Tokai Tokyo Financial Holdings, Inc. | (89400) | (260575) | (35.7) |
|  Tokushu Tokai Paper Co. Ltd. | (10500) | (235277) | (32.2) |
|  Tokuyama Corp. | (23800) | (348186) | (47.7) |
|  TOMONY Holdings, Inc. | (98400) | (302227) | (41.4) |
|  Tomy Co. Ltd. | (44400) | (438197) | (60.0) |
|  Topre Corp. | (4500) | (43897) | (6.0) |
|  Toyo Tanso Co. Ltd. | (2700) | (86232) | (11.8) |
|  Trancom Co. Ltd. | (3400) | (194811) | (26.7) |
|  TRE Holdings Corp. | (6100) | (68738) | (9.4) |
|  Tsugami Corp. | (6800) | (75278) | (10.3) |
|  WingArc1st, Inc. | (3300) | (50145) | (6.9) |
|  YAMABIKO Corp. | (24500) | (214508) | (29.4) |
|  Yokohama Reito Co. Ltd. | (20700) | (174349) | (23.9) |
|  Yokowo Co. Ltd. | (100) | (1730) | (0.2) |
|  Yonex Co. Ltd. | (13500) | (132025) | (18.1) |
|  Zojirushi Corp. | (12600) | (161107) | (22.1) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41129673) |  |
| **Liechtenstein** |  |  |  |
|  Implantica AG, Class A, SDR | (7960) | (31094) | (4.3) |
| **Luxembourg** |  |  |  |
|  Befesa SA | (9093) | (521585) | (71.4) |
| **Macau** |  |  |  |
|  MECOM Power and Construction Ltd. | (102000) | (24386) | (3.3) |
| **Malta** |  |  |  |
|  Kindred Group PLC | (16970) | (171010) | (23.4) |
| **Netherlands** |  |  |  |
|  AMG Advanced Metallurgical Group NV | (3494) | (136485) | (18.7) |
|  Arcadis NV | (4173) | (181194) | (24.8) |
|  Basic-Fit NV | (615) | (20208) | (2.8) |
|  Koninklijke BAM Groep NV | (49483) | (126113) | (17.3) |
|  NSI NV | (2357) | (61498) | (8.4) |
|  SIF Holding NV | (9) | (109) | (0.0) |
|  TKH Group NV | (3658) | (166019) | (22.7) |
|  |  | (691626) |  |
| **New Zealand** |  |  |  |
|  Pushpay Holdings Ltd. | (1058340) | (887583) | (121.5) |
|  Warehouse Group Ltd. | (4317) | (7255) | (1.0) |
|  |  | (894838) |  |
| **Norway** |  |  |  |
|  Aker Carbon Capture ASA | (44605) | (66114) | (9.1) |
|  Crayon Group Holding ASA | (23833) | (240044) | (32.9) |
|  Europris ASA | (41535) | (267593) | (36.6) |
|  FREYR Battery SA | (845) | (7445) | (1.0) |
|  Hexagon Composites ASA | (34845) | (117493) | (16.1) |
|  Hexagon Purus ASA | (6508) | (17125) | (2.3) |

---

S C H E D U L E O F I N V E S T M E N T S 62

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Norway (continued)** |  |  |  |
|  Kahoot! ASA | (39765) | $(70294) | (9.6)% |
|  Norske Skog ASA | (6845) | (47137) | (6.5) |
|  |  | (833245) |  |
| **Portugal** |  |  |  |
|  Altri SGPS SA | (45734) | (230911) | (31.6) |
|  Corticeira Amorim SGPS SA | (8835) | (87309) | (11.9) |
|  CTT-Correios de Portugal SA | (136432) | (527752) | (72.3) |
|  Navigator Co. SA | (82734) | (289659) | (39.7) |
|  NOS SGPS SA | (94316) | (404455) | (55.4) |
|  Semapa-Sociedade de Investimento e Gestao | (680) | (8974) | (1.2) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1549060) |  |
| **Puerto Rico** |  |  |  |
|  First BanCorp | (22802) | (306687) | (42.0) |
| **Singapore** |  |  |  |
|  AEM Holdings Ltd. | (122500) | (325181) | (44.5) |
|  AustAsia Group Ltd. | (253680) | (184409) | (25.2) |
|  BW Energy Ltd. | (6037) | (16961) | (2.3) |
|  Maxeon Solar Technologies Ltd. | (6714) | (147439) | (20.2) |
|  OUE Commercial Real Estate Investment Trust | (275000) | (73412) | (10.1) |
|  Starhill Global REIT | (394800) | (171736) | (23.5) |
|  TDCX, Inc. | (5937) | (78250) | (10.7) |
|  Yanlord Land Group Ltd. | (414500) | (351046) | (48.1) |
|  |  | (1348434) |  |
| **Spain** |  |  |  |
|  Atresmedia Corp. de Medios de Comunicacion SA | (18686) | (69662) | (9.5) |
|  Construcciones y Auxiliar de Ferrocarriles SA | (1893) | (60967) | (8.4) |
|  Gestamp Automocion SA | (17822) | (78690) | (10.8) |
|  Grenergy Renovables SA | (7013) | (253830) | (34.8) |
|  Grupo Catalana Occidente SA | (811) | (25138) | (3.5) |
|  Opdenergy Holdings SA | (2011) | (9685) | (1.3) |
|  Talgo SA | (12108) | (49163) | (6.7) |
|  Tecnicas Reunidas SA | (746) | (8962) | (1.2) |
|  Vidrala SA | (1758) | (177338) | (24.3) |
|  Viscofan SA | (2441) | (157324) | (21.5) |
|  |  | (890759) |  |
| **Sweden** |  |  |  |
|  AcadeMedia AB | (126912) | (597770) | (81.8) |
|  Bilia AB, A Shares | (5432) | (62764) | (8.6) |
|  Billerud AB | (13410) | (155787) | (21.3) |
|  BioArctic AB, Class B | (13880) | (413953) | (56.7) |
|  Cint Group AB | (18454) | (69266) | (9.5) |
|  Clas Ohlson AB, B Shares | (20297) | (135338) | (18.5) |
|  Coor Service Management Holding AB | (35818) | (228856) | (31.3) |
|  Dometic Group AB | (5695) | (35890) | (4.9) |
|  Duni AB | (5969) | (51679) | (7.1) |
|  Dustin Group AB | (41445) | (139686) | (19.1) |
|  Electrolux Professional AB, Class B | (18557) | (86468) | (11.8) |
|  Granges AB | (18443) | (154264) | (21.1) |
|  Hemnet Group AB | (2779) | (38692) | (5.3) |
|  Hexpol AB | (23595) | (254893) | (34.9) |
|  Hufvudstaden AB, A Shares | (52253) | (786938) | (107.7) |
|  Instalco AB | (28750) | (111209) | (15.2) |
|  JM AB | (3535) | (65900) | (9.0) |
|  KNOW IT AB | (1772) | (34634) | (4.8) |
|  Lindab International AB | (3729) | (52890) | (7.3) |
|  MEKO AB | (5108) | (56614) | (7.8) |
|  Munters Group AB | (13429) | (128759) | (17.6) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Sweden (continued)** |  |  |  |
|  New Wave Group AB, B Shares | (4570) | $(102831) | (14.1)% |
|  PowerCell Sweden AB | (6927) | (92878) | (12.7) |
|  Resurs Holding AB | (38482) | (102467) | (14.0) |
|  Rvrc Holding AB | (20195) | (68734) | (9.4) |
|  SSAB AB, Class B | (61810) | (421214) | (57.7) |
|  Stillfront Group AB | (21211) | (37020) | (5.1) |
|  Surgical Science Sweden AB | (12678) | (179317) | (24.6) |
|  Truecaller AB, Class B | (23867) | (84813) | (11.6) |
|  Viaplay Group AB, Class B | (2201) | (54343) | (7.4) |
|  Wallenstam AB, B Shares | (13191) | (60555) | (8.3) |
|  Wihlborgs Fastigheter AB | (14246) | (117289) | (16.1) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4983711) |  |
| **Switzerland** |  |  |  |
|  ALSO Holding AG, Registered Shares | (1498) | (305134) | (41.8) |
|  Bucher Industries AG, Registered Shares | (485) | (220998) | (30.3) |
|  Bystronic AG | (165) | (123987) | (17.0) |
|  Daetwyler Holding AG | (983) | (208481) | (28.5) |
|  dormakaba Holding AG | (1621) | (677216) | (92.7) |
|  Forbo Holding AG, Registered Shares | (134) | (176308) | (24.1) |
|  Interroll Holding AG, Registered Shares | (101) | (314603) | (43.1) |
|  Komax Holding AG, Registered Shares | (411) | (135225) | (18.5) |
|  Mobilezone Holding AG, Registered Shares | (3687) | (66949) | (9.2) |
|  Mobimo Holding AG, Registered Shares | (1683) | (432770) | (59.2) |
|  Peach Property Group AG | (8566) | (185411) | (25.4) |
|  PolyPeptide Group AG | (1959) | (56916) | (7.8) |
|  SFS Group AG | (2471) | (284300) | (38.9) |
|  Siegfried Holding AG, Registered Shares | (131) | (96236) | (13.2) |
|  SKAN Group AG | (843) | (62707) | (8.6) |
|  Softwareone Holding AG | (14493) | (234009) | (32.0) |
|  St Galler Kantonalbank AG, Registered Shares | (691) | (378657) | (51.8) |
|  Stadler Rail AG | (1056) | (40279) | (5.5) |
|  Trifork Holding AG | (733) | (16668) | (2.3) |
|  TX Group AG | (234) | (36687) | (5.0) |
|  Valiant Holding AG, Registered Shares | (1949) | (222698) | (30.5) |
|  Zehnder Group AG | (389) | (28953) | (4.0) |
|  |  | (4305192) |  |
| **United Kingdom** |  |  |  |
|  Assura PLC | (792488) | (544688) | (74.6) |
|  Aston Martin Lagonda Global Holdings PLC | (29791) | (60877) | (8.3) |
|  Auction Technology Group PLC | (5721) | (49654) | (6.8) |
|  Balfour Beatty PLC | (234024) | (1057124) | (144.7) |
|  Bridgepoint Group PLC, Registered Shares | (29742) | (88267) | (12.1) |
|  Capita PLC | (23082) | (7962) | (1.1) |
|  Close Brothers Group PLC | (17018) | (203302) | (27.8) |
|  Coats Group PLC | (98862) | (88896) | (12.2) |
|  Computacenter PLC | (1959) | (53838) | (7.4) |
|  Cranswick PLC | (7186) | (281902) | (38.6) |
|  Dixons Carphone PLC | (246255) | (197827) | (27.1) |
|  Elementis PLC | (127455) | (197016) | (27.0) |
|  EMIS Group PLC | (17118) | (396332) | (54.3) |
|  Energean PLC | (13345) | (191670) | (26.2) |
|  Essentra PLC | (92481) | (247146) | (33.8) |
|  Finablr PLC | (44203) | (1) | (0.0) |
|  Firstgroup PLC | (96686) | (129212) | (17.7) |
|  GB Group PLC | (5356) | (23357) | (3.2) |
|  Greatland Gold PLC | (2066688) | (194661) | (26.6) |
|  Halfords Group PLC | (99116) | (250744) | (34.3) |
|  Helios Towers PLC | (67731) | (89347) | (12.2) |
|  Hill & Smith PLC | (736) | (11433) | (1.6) |
|  Home Reit PLC | (350343) | (164346) | (22.5) |

---

63.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United Kingdom (continued)** |  |  |  |
|  IP Group PLC | (64754) | $(48697) | (6.7)% |
|  John Wood Group PLC | (25790) | (45212) | (6.2) |
|  Kape Technologies PLC | (5774) | (17796) | (2.4) |
|  Keller Group PLC | (1509) | (15050) | (2.1) |
|  Kier Group PLC | (41290) | (34869) | (4.8) |
|  Liontrust Asset Management PLC | (7332) | (105052) | (14.4) |
|  LondonMetric Property PLC | (22297) | (51953) | (7.1) |
|  Marlowe PLC | (15755) | (97506) | (13.3) |
|  Mitie Group PLC | (489655) | (470863) | (64.5) |
|  Molten Ventures PLC | (61163) | (270583) | (37.0) |
|  Moonpig Group PLC | (5924) | (8788) | (1.2) |
|  Oxford Biomedica PLC | (19218) | (100932) | (13.8) |
|  Oxford Nanopore Technologies PLC | (68762) | (200892) | (27.5) |
|  Petrofac Ltd. | (548849) | (562971) | (77.1) |
|  Pets at Home Group PLC | (5296) | (23039) | (3.2) |
|  Renewi PLC | (28849) | (233742) | (32.0) |
|  S4 Capital PLC | (27576) | (74492) | (10.2) |
|  Serica Energy PLC | (10692) | (33458) | (4.6) |
|  Supermarket Income Reit PLC | (226981) | (269656) | (36.9) |
|  Synthomer PLC | (41656) | (80424) | (11.0) |
|  Target Healthcare REIT PLC | (69073) | (68977) | (9.4) |
|  TI Fluid Systems PLC | (166621) | (244448) | (33.5) |
|  Tullow Oil PLC | (2309599) | (1028508) | (140.8) |
|  Urban Logistics REIT PLC | (18333) | (32434) | (4.4) |
|  Volex PLC | (15179) | (47719) | (6.5) |
|  Warehouse Reit PLC | (29969) | (39090) | (5.4) |
|  Wincanton PLC | (44575) | (162665) | (22.3) |
|  Yellow Cake PLC | (106210) | (547216) | (74.9) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9446634) |  |
| **United States** |  |  |  |
|  23andMe Holding Co., Class A | (10729) | (26823) | (3.7) |
|  3D Systems Corp. | (9243) | (100379) | (13.7) |
|  908 Devices, Inc. | (3072) | (28631) | (3.9) |
|  AAR Corp. | (220) | (11317) | (1.6) |
|  ABM Industries, Inc. | (13280) | (622965) | (85.3) |
|  Accolade, Inc. | (8400) | (98028) | (13.4) |
|  Aclaris Therapeutics, Inc. | (5066) | (85615) | (11.7) |
|  ACM Research, Inc., Class A | (12660) | (158123) | (21.7) |
|  ACV Auctions, Inc., Class A | (12670) | (124166) | (17.0) |
|  AdaptHealth Corp., Class A | (5163) | (110643) | (15.1) |
|  Addus HomeCare Corp. | (2162) | (232458) | (31.8) |
|  Adicet Bio, Inc. | (5006) | (45805) | (6.3) |
|  ADTRAN Holdings, Inc. | (7648) | (144318) | (19.8) |
|  Aehr Test Systems | (11465) | (400816) | (54.9) |
|  Aerovate Therapeutics, Inc. | (3641) | (83197) | (11.4) |
|  AeroVironment, Inc. | (328) | (29182) | (4.0) |
|  Aeva Technologies, Inc. | (21530) | (36386) | (5.0) |
|  Agenus, Inc. | (41152) | (107407) | (14.7) |
|  Agiliti, Inc. | (16726) | (308595) | (42.3) |
|  Agilysys, Inc. | (1403) | (117235) | (16.1) |
|  Akero Therapeutics, Inc. | (11648) | (576576) | (78.9) |
|  Alamo Group, Inc. | (1183) | (185104) | (25.3) |
|  Albany International Corp., Class A | (2990) | (335328) | (45.9) |
|  Alexander's, Inc. | (2010) | (476933) | (65.3) |
|  Alkami Technology, Inc. | (28152) | (460848) | (63.1) |
|  Allbirds, Inc., Class A | (187478) | (515564) | (70.6) |
|  Allovir, Inc. | (1174) | (6786) | (0.9) |
|  Alpha & Omega Semiconductor Ltd. | (4310) | (142058) | (19.5) |
|  Altimmune, Inc. | (4362) | (59498) | (8.1) |
|  Altus Power, Inc., Class A | (1948) | (15623) | (2.1) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  ALX Oncology Holdings, Inc. | (472) | $(4390) | (0.6)% |
|  AMC Networks, Inc., Class A | (9843) | (182194) | (24.9) |
|  Amerant Bancorp, Inc. | (8735) | (243182) | (33.3) |
|  Ameresco, Inc., Class A | (1405) | (90580) | (12.4) |
|  American States Water Co. | (4330) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(407756) | (55.8) |
|  American Well Corp., Class A | (6523) | (25896) | (3.5) |
|  America's Car-Mart, Inc. | (5744) | (494788) | (67.7) |
|  Amicus Therapeutics, Inc. | (6239) | (81357) | (11.1) |
|  AMMO, Inc. | (165992) | (411660) | (56.4) |
|  Amplitude, Inc., Class A | (9745) | (140133) | (19.2) |
|  Amyris, Inc. | (7268) | (11556) | (1.6) |
|  Anavex Life Sciences Corp. | (21460) | (233270) | (31.9) |
|  ANI Pharmaceuticals, Inc. | (177) | (7917) | (1.1) |
|  Apartment Investment and Management Co., Class A | (4206) | (31587) | (4.3) |
|  API Group Corp. | (10487) | (233231) | (31.9) |
|  Appfolio, Inc., Class A | (235) | (26398) | (3.6) |
|  Appian Corp., Class A | (6789) | (280827) | (38.4) |
|  Arcellx, Inc. | (1577) | (52688) | (7.2) |
|  Arcosa, Inc. | (817) | (48424) | (6.6) |
|  Arcturus Therapeutics Holdings, Inc. | (16846) | (355956) | (48.7) |
|  Arcutis Biotherapeutics, Inc. | (13995) | (231897) | (31.8) |
|  Ares Commercial Real Estate Corp. | (30300) | (372084) | (50.9) |
|  Argan, Inc. | (5409) | (210897) | (28.9) |
|  Arko Corp. | (15643) | (131245) | (18.0) |
|  ARMOUR Residential REIT, Inc. | (32951) | (206932) | (28.3) |
|  Array Technologies, Inc. | (1392) | (30944) | (4.2) |
|  Atea Pharmaceuticals, Inc. | (14196) | (65727) | (9.0) |
|  Atlanticus Holdings Corp. | (894) | (29055) | (4.0) |
|  Atlas Air Worldwide Holdings, Inc. | (1515) | (154848) | (21.2) |
|  Avanos Medical, Inc. | (570) | (17465) | (2.4) |
|  AvePoint, Inc. | (32429) | (144958) | (19.8) |
|  Avid Technology, Inc. | (3522) | (106752) | (14.6) |
|  Babcock & Wilcox Enterprises, Inc. | (51619) | (342750) | (46.9) |
|  Balchem Corp. | (7370) | (962743) | (131.8) |
|  Banc of California, Inc. | (4031) | (70220) | (9.6) |
|  Bank of Hawaii Corp. | (1319) | (100890) | (13.8) |
|  BARK, Inc. | (146628) | (294722) | (40.4) |
|  Barnes Group, Inc. | (17920) | (793139) | (108.6) |
|  Barrett Business Services, Inc. | (260) | (25839) | (3.5) |
|  BellRing Brands, Inc. | (29752) | (843767) | (115.5) |
|  Benson Hill, Inc. | (36984) | (99117) | (13.6) |
|  Berkshire Hills Bancorp, Inc. | (2927) | (90883) | (12.4) |
|  BioCryst Pharmaceuticals, Inc. | (20559) | (216897) | (29.7) |
|  Bionano Genomics, Inc. | (216800) | (392408) | (53.7) |
|  Bioxcel Therapeutics, Inc. | (17982) | (512847) | (70.2) |
|  Bloomin' Brands, Inc. | (13453) | (326235) | (44.7) |
|  Boston Omaha Corp., Class A | (8447) | (223423) | (30.6) |
|  Brady Corp., Class A | (1476) | (78922) | (10.8) |
|  Braze, Inc., Class A | (1441) | (46112) | (6.3) |
|  Brightsphere Investment Group Inc. | (18666) | (437718) | (59.9) |
|  BrightSpire Capital, Inc., Class A | (28899) | (220210) | (30.2) |
|  Brinker International, Inc. | (16298) | (643119) | (88.1) |
|  Bristow Group, Inc. | (6349) | (193898) | (26.5) |
|  Broadmark Realty Capital, Inc. | (43027) | (188458) | (25.8) |
|  BRP Group, Inc., Class A | (18847) | (539967) | (73.9) |
|  Burford Capital Ltd. | (9355) | (84078) | (11.5) |
|  Butterfly Network, Inc. | (90814) | (249739) | (34.2) |
|  California Water Service Group | (7913) | (484038) | (66.3) |
|  Callon Petroleum Co. | (7751) | (329805) | (45.2) |
|  Cano Health, Inc. | (75821) | (104633) | (14.3) |

---

S C H E D U L E O F I N V E S T M E N T S 64

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Capitol Federal Financial, Inc. | (14784) | $(123742) | (16.9)% |
|  CareMax, Inc. | (27979) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(131222) | (18.0) |
|  Caribou Biosciences, Inc. | (36186) | (260901) | (35.7) |
|  Carpenter Technology Corp. | (4414) | (213152) | (29.2) |
|  Cars.com, Inc. | (19393) | (331620) | (45.4) |
|  Cassava Sciences, Inc. | (930) | (26040) | (3.6) |
|  Cathay General Bancorp | (3349) | (147222) | (20.2) |
|  CCC Intelligent Solutions Holdings, Inc. | (34309) | (317358) | (43.5) |
|  Celldex Therapeutics, Inc. | (13213) | (582165) | (79.7) |
|  Centerspace | (4705) | (318152) | (43.6) |
|  Centrus Energy Corp., Class A | (15551) | (638369) | (87.4) |
|  Cerevel Therapeutics Holdings, Inc. | (10263) | (350481) | (48.0) |
|  Chesapeake Utilities Corp. | (82) | (10339) | (1.4) |
|  Chuy's Holdings, Inc. | (2302) | (78797) | (10.8) |
|  City Holding Co. | (2093) | (198395) | (27.2) |
|  Claros Mortgage Trust, Inc. | (1686) | (28224) | (3.9) |
|  Clarus Corp. | (14825) | (148991) | (20.4) |
|  Clearfield, Inc. | (1703) | (121696) | (16.7) |
|  Cogent Biosciences, Inc. | (15338) | (230990) | (31.6) |
|  Cogent Communications Holdings, Inc. | (4495) | (308222) | (42.2) |
|  Columbia Financial, Inc. | (11885) | (235917) | (32.3) |
|  Community Bank System, Inc. | (7608) | (439058) | (60.1) |
|  Community Trust Bancorp, Inc. | (2281) | (98265) | (13.5) |
|  Compass Minerals International, Inc. | (1569) | (73210) | (10.0) |
|  Compass, Inc., Class A | (2686) | (10798) | (1.5) |
|  Conduent, Inc. | (31016) | (147946) | (20.3) |
|  Consensus Cloud Solutions, Inc. | (2249) | (132174) | (18.1) |
|  ContextLogic, Inc., Class A | (362283) | (249214) | (34.1) |
|  Corporate Office Properties Trust | (33750) | (947362) | (129.7) |
|  Couchbase, Inc. | (23797) | (351958) | (48.2) |
|  Coursera, Inc. | (26349) | (420267) | (57.5) |
|  CRA International, Inc. | (177) | (21035) | (2.9) |
|  Credo Technology Group Holding Ltd. | (21985) | (381000) | (52.2) |
|  Crinetics Pharmaceuticals, Inc. | (9750) | (191198) | (26.2) |
|  Cross Country Healthcare, Inc. | (10683) | (296453) | (40.6) |
|  CryoPort, Inc. | (2804) | (64015) | (8.8) |
|  CS Disco, Inc. | (26742) | (222226) | (30.4) |
|  CSG Systems International, Inc. | (4321) | (257834) | (35.3) |
|  CTI BioPharma Corp. | (54571) | (301778) | (41.3) |
|  Cullinan Oncology, Inc. | (7603) | (88499) | (12.1) |
|  Cushman & Wakefield PLC | (29577) | (426796) | (58.4) |
|  Cutera, Inc. | (1052) | (36641) | (5.0) |
|  CVB Financial Corp. | (12666) | (306771) | (42.0) |
|  Cytek Biosciences, Inc. | (15279) | (184112) | (25.2) |
|  DICE Therapeutics, Inc. | (3207) | (101886) | (14.0) |
|  Digital Turbine, Inc. | (6653) | (115496) | (15.8) |
|  DocGo, Inc. | (24467) | (244670) | (33.5) |
|  Donnelley Financial Solutions, Inc. | (7321) | (333911) | (45.7) |
|  Douglas Elliman, Inc. | (30555) | (142386) | (19.5) |
|  Dril-Quip, Inc. | (2057) | (63170) | (8.7) |
|  Dynex Capital, Inc. | (31021) | (447013) | (61.2) |
|  E2open Parent Holdings, Inc. | (59468) | (410329) | (56.2) |
|  Easterly Government Properties, Inc., Class A | (2997) | (48671) | (6.7) |
|  Eastman Kodak Co. | (155234) | (560395) | (76.7) |
|  Edgewell Personal Care Co. | (11565) | (495676) | (67.9) |
|  Ellington Financial, Inc. | (19846) | (272486) | (37.3) |
|  Elme Communities | (4493) | (86266) | (11.8) |
|  Embecta Corp. | (13147) | (346949) | (47.5) |
|  Empire State Realty Trust, Inc., Class A | (56222) | (468891) | (64.2) |
|  Encore Capital Group, Inc. | (8948) | (498583) | (68.3) |
|  Energizer Holdings, Inc. | (15599) | (578723) | (79.2) |
|  Energy Fuels, Inc. | (33572) | (247523) | (33.9) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Energy Recovery, Inc. | (2811) | $(62207) | (8.5)% |
|  Energy Vault Holdings, Inc. | (12140) | (51474) | (7.0) |
|  EnerSys | (8440) | (700689) | (95.9) |
|  Enhabit, Inc. | (11764) | (180695) | (24.7) |
|  Enovix Corp. | (46902) | (372402) | (51.0) |
|  EnPro Industries, Inc. | (2072) | (250857) | (34.3) |
|  EQRx, Inc. | (60622) | (148524) | (20.3) |
|  Esab Corp. | (1105) | (63880) | (8.7) |
|  ESS Tech, Inc. | (65167) | (144019) | (19.7) |
|  Essential Properties Realty Trust, Inc. | (1698) | (43265) | (5.9) |
|  EverCommerce, Inc. | (4854) | (50142) | (6.9) |
|  Evolus, Inc. | (20394) | (211894) | (29.0) |
|  Evolv Technologies Holdings, Inc. | (75817) | (232000) | (31.8) |
|  Expro Group Holdings NV | (13817) | (261003) | (35.7) |
|  F45 Training Holdings, Inc. | (134418) | (416696) | (57.1) |
|  Farmland Partners, Inc. | (12685) | (163383) | (22.4) |
|  Federal Signal Corp. | (5853) | (311672) | (42.7) |
|  Figs, Inc., Class A | (1117) | (9997) | (1.4) |
|  First Bancorp/Southern Pines | (1662) | (66231) | (9.1) |
|  First Merchants Corp. | (20003) | (852928) | (116.8) |
|  Focus Financial Partners, Inc., Class A | (1059) | (47814) | (6.5) |
|  Four Corners Property Trust, Inc. | (1716) | (49352) | (6.8) |
|  Franchise Group, Inc. | (7121) | (219968) | (30.1) |
|  Freshpet, Inc. | (2929) | (185494) | (25.4) |
|  Frontier Group Holdings, Inc. | (673) | (8466) | (1.2) |
|  fuboTV, Inc. | (8038) | (20658) | (2.8) |
|  FuelCell Energy, Inc. | (120641) | (441546) | (60.5) |
|  Funko, Inc., Class A | (42556) | (514928) | (70.5) |
|  Gates Industrial Corp. PLC | (19469) | (257185) | (35.2) |
|  Gentherm, Inc. | (1511) | (112464) | (15.4) |
|  Genworth Financial, Inc., Class A | (125037) | (690204) | (94.5) |
|  German American Bancorp, Inc. | (1661) | (63982) | (8.8) |
|  Getty Realty Corp. | (8178) | (297925) | (40.8) |
|  Gevo, Inc. | (89966) | (190728) | (26.1) |
|  Glacier Bancorp, Inc. | (13783) | (628367) | (86.0) |
|  Gladstone Commercial Corp. | (10004) | (169968) | (23.3) |
|  Global Net Lease, Inc. | (64497) | (964230) | (132.0) |
|  GrafTech International Ltd. | (36914) | (241418) | (33.1) |
|  Graham Holdings Co., Class B | (1559) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1018510) | (139.4) |
|  Grand Canyon Education, Inc. | (4264) | (497012) | (68.0) |
|  Granite Construction, Inc. | (231) | (9836) | (1.3) |
|  Great Southern Bancorp, Inc. | (1846) | (107880) | (14.8) |
|  Green Plains, Inc. | (4021) | (139810) | (19.1) |
|  Griffon Corp. | (1473) | (60216) | (8.2) |
|  Hagerty, Inc., Class A | (10656) | (102404) | (14.0) |
|  Harmonic, Inc. | (12882) | (169656) | (23.2) |
|  Hawaiian Electric Industries, Inc. | (23711) | (1002264) | (137.2) |
|  Hayward Holdings, Inc. | (19407) | (261800) | (35.8) |
|  HCI Group, Inc. | (4840) | (243016) | (33.3) |
|  Hecla Mining Co. | (19986) | (123314) | (16.9) |
|  Heritage Commerce Corp. | (16948) | (205410) | (28.1) |
|  Heska Corp. | (414) | (37028) | (5.1) |
|  Hillman Solutions Corp. | (15927) | (152899) | (20.9) |
|  Hippo Holdings, Inc. | (5210) | (87424) | (12.0) |
|  HNI Corp. | (4953) | (157357) | (21.5) |
|  Honest Co., Inc. | (38050) | (125565) | (17.2) |
|  Humacyte, Inc. | (5475) | (14399) | (2.0) |
|  Huron Consulting Group, Inc. | (2007) | (136556) | (18.7) |
|  Hyliion Holdings Corp. | (54078) | (193599) | (26.5) |
|  Hyster-Yale Materials Handling, Inc. | (4496) | (145805) | (20.0) |
|  Ichor Holdings Ltd. | (14782) | (499632) | (68.4) |
|  ImmunityBio, Inc. | (34505) | (131119) | (18.0) |

---

65.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **United States (continued)** |  |  |  |
|  Immunovant, Inc. | (10583) | $(188060) | (25.7)% |
|  Independent Bank Corp. | (8283) | (660072) | (90.4) |
|  indie Semiconductor, Inc., Class A | (33680) | (268430) | (36.8) |
|  Indus Realty Trust, Inc. | (8166) | (523441) | (71.7) |
|  Inhibrx, Inc. | (5955) | (148875) | (20.4) |
|  Innospec, Inc. | (2219) | (250791) | (34.3) |
|  Inotiv, Inc. | (15641) | (113397) | (15.5) |
|  Insight Enterprises, Inc. | (7575) | (853854) | (116.9) |
|  Insteel Industries, Inc. | (4049) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(121430) | (16.6) |
|  Integer Holdings Corp. | (1005) | (66139) | (9.1) |
|  InterDigital, Inc. | (760) | (53162) | (7.3) |
|  Interface, Inc., Class A | (9026) | (102716) | (14.1) |
|  International Bancshares Corp. | (5258) | (246442) | (33.7) |
|  InvenTrust Properties Corp. | (5404) | (134397) | (18.4) |
|  IonQ, Inc. | (45342) | (201318) | (27.6) |
|  iTeos Therapeutics, Inc. | (2641) | (55197) | (7.6) |
|  Itron, Inc. | (870) | (49999) | (6.8) |
|  IVERIC bio, Inc. | (33398) | (771494) | (105.6) |
|  Jack in the Box, Inc. | (4423) | (336060) | (46.0) |
|  JBG SMITH Properties | (3086) | (62152) | (8.5) |
|  Joby Aviation, Inc. | (202437) | (894772) | (122.5) |
|  John B Sanfilippo & Son, Inc. | (2189) | (184992) | (25.3) |
|  John Wiley & Sons, Inc., Class A | (336) | (15389) | (2.1) |
|  Johnson Outdoors, Inc., Class A | (167) | (11433) | (1.6) |
|  KB Home | (1317) | (50639) | (6.9) |
|  Kemper Corp. | (1066) | (62606) | (8.6) |
|  Kennametal, Inc. | (3182) | (90687) | (12.4) |
|  Kennedy-Wilson Holdings, Inc. | (42286) | (756074) | (103.5) |
|  Keros Therapeutics, Inc. | (3069) | (179751) | (24.6) |
|  Kezar Life Sciences, Inc. | (5879) | (42152) | (5.8) |
|  Kimball Electronics, Inc. | (18666) | (476356) | (65.2) |
|  Kinetik Holdings, Inc., Class A | (2739) | (85703) | (11.7) |
|  KKR Real Estate Finance Trust, Inc. | (57255) | (912072) | (124.9) |
|  Kontoor Brands Inc. | (5455) | (260531) | (35.7) |
|  Kosmos Energy Ltd. | (35753) | (282806) | (38.7) |
|  Krispy Kreme, Inc. | (9789) | (119426) | (16.4) |
|  Krystal Biotech, Inc. | (4036) | (335472) | (45.9) |
|  Kura Sushi USA, Inc., Class A | (2417) | (150192) | (20.6) |
|  Lakeland Bancorp, Inc. | (731) | (14086) | (1.9) |
|  Lakeland Financial Corp. | (551) | (38961) | (5.3) |
|  Latham Group, Inc. | (26648) | (117251) | (16.1) |
|  Leonardo DRS, Inc. | (12234) | (163324) | (22.4) |
|  Leslie's, Inc. | (45034) | (697577) | (95.5) |
|  Lexicon Pharmaceuticals, Inc. | (69502) | (155684) | (21.3) |
|  Lexington Realty Trust | (640) | (7392) | (1.0) |
|  LGI Homes, Inc. | (762) | (86754) | (11.9) |
|  Liberty Energy, Inc., Class A | (10157) | (160785) | (22.0) |
|  Liberty Media Corp.-Liberty Braves, Class C | (8304) | (287983) | (39.4) |
|  Lightwave Logic, Inc. | (38276) | (240756) | (33.0) |
|  Lordstown Motors Corp., Class A | (258844) | (339086) | (46.4) |
|  Lovesac Co. | (2521) | (64891) | (8.9) |
|  LTC Properties, Inc. | (5698) | (217379) | (29.8) |
|  Luminar Technologies, Inc., Class A | (81408) | (542991) | (74.3) |
|  Madison Square Garden Entertainment Corp. | (563) | (29439) | (4.0) |
|  Markforged Holding Corp. | (40965) | (54893) | (7.5) |
|  Materion Corp. | (7180) | (647995) | (88.7) |
|  Mativ Holdings, Inc. | (13105) | (361174) | (49.4) |
|  Matterport, Inc. | (115604) | (406926) | (55.7) |
|  Matthews International Corp., Class A | (19406) | (718798) | (98.4) |
|  MaxCyte, Inc. | (3944) | (23033) | (3.2) |
|  Mercury Systems, Inc. | (3729) | (186394) | (25.5) |
|  MeridianLink, Inc. | (1658) | (26329) | (3.6) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **United States (continued)** |  |  |  |
|  Mersana Therapeutics, Inc. | (7004) | $(46086) | (6.3)% |
|  Mesa Laboratories, Inc. | (1920) | (373517) | (51.1) |
|  Methode Electronics, Inc. | (7045) | (336328) | (46.0) |
|  MGP Ingredients, Inc. | (363) | (35407) | (4.8) |
|  Microvast Holdings, Inc. | (9994) | (16290) | (2.2) |
|  MicroVision, Inc. | (39902) | (100154) | (13.7) |
|  Minerals Technologies, Inc. | (3570) | (247937) | (33.9) |
|  Mirum Pharmaceuticals, Inc. | (6810) | (159899) | (21.9) |
|  Mission Produce, Inc. | (14577) | (181629) | (24.9) |
|  Montrose Environmental Group, Inc. | (5296) | (286831) | (39.3) |
|  Mueller Water Products, Inc., Class A | (35903) | (454173) | (62.2) |
|  N-able, Inc. | (22807) | (234228) | (32.1) |
|  NanoString Technologies, Inc. | (8518) | (90120) | (12.3) |
|  National HealthCare Corp. | (4256) | (253402) | (34.7) |
|  National Presto Industries, Inc. | (3527) | (270203) | (37.0) |
|  Navient Corp. | (3845) | (72940) | (10.0) |
|  Navitas Semiconductor Corp. | (15428) | (76523) | (10.5) |
|  NBT Bancorp, Inc. | (7217) | (283700) | (38.8) |
|  Necessity Retail REIT, Inc. | (20601) | (140705) | (19.3) |
|  Nelnet, Inc., Class A | (9285) | (886625) | (121.4) |
|  NetScout Systems, Inc. | (12378) | (397334) | (54.4) |
|  NETSTREIT Corp. | (29957) | (603034) | (82.6) |
|  Newmark Group, Inc., Class A | (18963) | (162513) | (22.3) |
|  NewMarket Corp. | (379) | (130569) | (17.9) |
|  NextDecade Corp. | (32185) | (192788) | (26.4) |
|  Nextdoor Holdings, Inc. | (166159) | (408751) | (56.0) |
|  NexTier Oilfield Solutions, Inc. | (25596) | (241114) | (33.0) |
|  Nicolet Bankshares, Inc. | (192) | (13995) | (1.9) |
|  Nkarta, Inc. | (18650) | (99405) | (13.6) |
|  nLight, Inc. | (23217) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(287891) | (39.4) |
|  Northern Oil and Gas, Inc. | (5422) | (181745) | (24.9) |
|  Northwest Bancshares, Inc. | (36129) | (510864) | (69.9) |
|  Nuvalent, Inc., Class A | (4859) | (146985) | (20.1) |
|  Nuvation Bio, Inc. | (4406) | (10839) | (1.5) |
|  Ocugen, Inc. | (245338) | (311579) | (42.7) |
|  ODP Corp. | (16451) | (848872) | (116.2) |
|  O-I Glass, Inc. | (34317) | (660602) | (90.4) |
|  Olo, Inc., Class A | (56803) | (455560) | (62.4) |
|  OmniAb, Inc. | (73936) | (306095) | (41.9) |
|  One Liberty Properties, Inc. | (6619) | (159584) | (21.9) |
|  OneSpan, Inc. | (12417) | (171479) | (23.5) |
|  Open Lending Corp., Class A | (2238) | (19627) | (2.7) |
|  Opendoor Technologies, Inc. | (93209) | (204128) | (27.9) |
|  OraSure Technologies, Inc. | (2264) | (12633) | (1.7) |
|  Orion Office REIT, Inc. | (26476) | (255493) | (35.0) |
|  OrthoPediatrics Corp. | (1531) | (72156) | (9.9) |
|  Outset Medical, Inc. | (31826) | (894947) | (122.5) |
|  Pacific Biosciences of California, Inc. | (18125) | (201006) | (27.5) |
|  Pacific Premier Bancorp, Inc. | (2962) | (95791) | (13.1) |
|  Patterson Cos., Inc. | (17560) | (530136) | (72.6) |
|  Peapack-Gladstone Financial Corp. | (3677) | (136380) | (18.7) |
|  Pediatrix Medical Group, Inc. | (3345) | (51346) | (7.0) |
|  PennyMac Mortgage Investment Trust | (7646) | (116602) | (16.0) |
|  Perella Weinberg Partners, Class A | (26951) | (276248) | (37.8) |
|  Phathom Pharmaceuticals, Inc. | (14731) | (175741) | (24.1) |
|  Physicians Realty Trust | (44214) | (701234) | (96.0) |
|  Pitney Bowes, Inc. | (72621) | (312997) | (42.9) |
|  Planet Labs PBC | (55389) | (274176) | (37.5) |
|  Plexus Corp. | (3460) | (332125) | (45.5) |
|  Pliant Therapeutics, Inc. | (1921) | (67312) | (9.2) |
|  Plymouth Industrial REIT, Inc. | (25219) | (564401) | (77.3) |
|  Point Biopharma Global, Inc. | (1379) | (11032) | (1.5) |

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S C H E D U L E O F I N V E S T M E N T S 66

------

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| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **United States (continued)** |  |  |  |
|  Portillo's, Inc., Class A | (7252) | $(163605) | (22.4)% |
|  PotlatchDeltic Corp. | (913) | (44691) | (6.1) |
|  PowerSchool Holdings, Inc., Class A | (4034) | (90846) | (12.4) |
|  Premier, Inc., Class A | (8148) | (271817) | (37.2) |
|  PROCEPT BioRobotics Corp. | (4976) | (193517) | (26.5) |
|  Progress Software Corp. | (8747) | (463941) | (63.5) |
|  Proterra, Inc. | (171398) | (874130) | (119.7) |
|  Provention Bio, Inc. | (2057) | (17814) | (2.4) |
|  Pulmonx Corp. | (14557) | (129412) | (17.7) |
|  PureCycle Technologies, Inc. | (32587) | (273079) | (37.4) |
|  Purple Innovation, Inc., Class A | (111983) | (649501) | (88.9) |
|  Quanterix Corp. | (3732) | (52733) | (7.2) |
|  Quantum-Si, Inc. | (46173) | (102504) | (14.0) |
|  Rackspace Technology, Inc. | (208085) | (624255) | (85.5) |
|  Ready Capital Corp. | (59143) | (782462) | (107.1) |
|  Reata Pharmaceuticals, Inc., Class A | (4540) | (196718) | (26.9) |
|  REC Silicon ASA | (77581) | (110546) | (15.1) |
|  Recursion Pharmaceuticals, Inc. | (39151) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(326128) | (44.7) |
|  Relay Therapeutics, Inc. | (360) | (7726) | (1.1) |
|  Rent-A-Center, Inc. | (2682) | (72119) | (9.9) |
|  Replimune Group, Inc. | (267) | (7436) | (1.0) |
|  Resideo Technologies, Inc. | (2836) | (54536) | (7.5) |
|  REV Group, Inc. | (29872) | (382660) | (52.4) |
|  Reynolds Consumer Products, Inc. | (6412) | (190885) | (26.1) |
|  Rimini Street, Inc. | (40297) | (181337) | (24.8) |
|  RLI Corp. | (1808) | (239470) | (32.8) |
|  Rocket Lab USA, Inc. | (106371) | (528664) | (72.4) |
|  Rover Group, Inc., Class A | (47441) | (194034) | (26.6) |
|  RXO, Inc. | (7275) | (133278) | (18.2) |
|  S&T Bancorp, Inc. | (3060) | (111323) | (15.2) |
|  Safety Insurance Group, Inc. | (9507) | (802296) | (109.8) |
|  Sage Therapeutics, Inc. | (607) | (26914) | (3.7) |
|  Sally Beauty Holdings, Inc. | (4037) | (62896) | (8.6) |
|  Samsara, Inc., Class A | (3226) | (44003) | (6.0) |
|  Saul Centers, Inc. | (622) | (26628) | (3.6) |
|  Schrodinger, Inc. | (7202) | (174144) | (23.8) |
|  Seaboard Corp. | (29) | (113695) | (15.6) |
|  Seer, Inc., Class A | (31962) | (145427) | (19.9) |
|  Sema4 Holdings Corp., Class A | (206417) | (87686) | (12.0) |
|  Senseonics Holdings, Inc. | (16340) | (18464) | (2.5) |
|  SES AI Corp. | (27427) | (90509) | (12.4) |
|  Shake Shack, Inc., Class A | (267) | (15187) | (2.1) |
|  Shenandoah Telecommunications Co. | (7091) | (138629) | (19.0) |
|  SI-BONE, Inc. | (16279) | (277231) | (38.0) |
|  Silk Road Medical, Inc. | (3241) | (176181) | (24.1) |
|  SilverBow Resources, Inc. | (1315) | (34545) | (4.7) |
|  Silvergate Capital Corp., Class A | (3287) | (46807) | (6.4) |
|  Simmons First National Corp., Class A | (5918) | (132031) | (18.1) |
|  Simply Good Foods Co. | (2292) | (83200) | (11.4) |
|  SITE Centers Corp. | (14627) | (199659) | (27.3) |
|  SiTime Corp. | (2162) | (249127) | (34.1) |
|  SJW Group. | (5461) | (422736) | (57.9) |
|  Skillsoft Corp. | (5289) | (10155) | (1.4) |
|  Skillz, Inc., Class A | (19683) | (15735) | (2.2) |
|  SmartRent, Inc. | (54026) | (157756) | (21.6) |
|  Snap One Holdings Corp. | (2305) | (22105) | (3.0) |
|  Solid Power, Inc. | (133984) | (448846) | (61.5) |
|  SomaLogic, Inc. | (79406) | (276333) | (37.8) |
|  Sonos, Inc. | (16122) | (297290) | (40.7) |
|  Spectrum Brands Holdings, Inc. | (546) | (37062) | (5.1) |
|  SpringWorks Therapeutics, Inc. | (8004) | (251326) | (34.4) |
|  Sprout Social, Inc., Class A | (1775) | (113547) | (15.5) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **United States (continued)** |  |  |  |
|  Squarespace, Inc., Class A | (1501) | $(35604) | (4.9)% |
|  St Joe Co. | (1566) | (73759) | (10.1) |
|  Stem, Inc. | (34031) | (335546) | (45.9) |
|  Stepan Co. | (72) | (7908) | (1.1) |
|  StepStone Group, Inc., Class A | (10942) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(319397) | (43.7) |
|  Stock Yards Bancorp, Inc. | (2908) | (174364) | (23.9) |
|  Strategic Education, Inc. | (3623) | (338207) | (46.3) |
|  Sumo Logic, Inc. | (16541) | (195680) | (26.8) |
|  Sun Country Airlines Holdings, Inc. | (12065) | (225254) | (30.8) |
|  Sunstone Hotel Investors, Inc. | (21070) | (231559) | (31.7) |
|  Sweetgreen, Inc., Class A | (4471) | (46364) | (6.3) |
|  Talos Energy, Inc. | (7689) | (152319) | (20.9) |
|  TaskUS, Inc., Class A | (11388) | (212386) | (29.1) |
|  Tejon Ranch Co. | (2869) | (57437) | (7.9) |
|  Telephone and Data Systems, Inc. | (1811) | (24213) | (3.3) |
|  Telos Corp. | (14332) | (69510) | (9.5) |
|  Tennant Co. | (4055) | (284377) | (38.9) |
|  Terex Corp. | (2500) | (127425) | (17.4) |
|  Texas Capital Bancshares, Inc. | (3502) | (231377) | (31.7) |
|  TimkenSteel Corp. | (4054) | (79742) | (10.9) |
|  Towne Bank | (5251) | (159998) | (21.9) |
|  TPI Composites, Inc. | (3442) | (44918) | (6.2) |
|  Traeger, Inc. | (152660) | (554156) | (75.9) |
|  TransMedics Group, Inc. | (5815) | (366461) | (50.2) |
|  Treace Medical Concepts, Inc. | (2878) | (66453) | (9.1) |
|  Tredegar Corp. | (69059) | (837686) | (114.7) |
|  TreeHouse Foods, Inc. | (17100) | (828153) | (113.4) |
|  TriCo Bancshares | (3922) | (198257) | (27.1) |
|  TriMas Corp. | (272) | (8375) | (1.1) |
|  Trinseo PLC | (4972) | (137973) | (18.9) |
|  Tronox Holdings PLC | (1113) | (19088) | (2.6) |
|  TrustCo Bank Corp. | (1338) | (48048) | (6.6) |
|  Trustmark Corp. | (13551) | (394605) | (54.0) |
|  Twist Bioscience Corp. | (2587) | (74221) | (10.2) |
|  Two Harbors Investment Corp. | (23775) | (426515) | (58.4) |
|  UMB Financial Corp. | (2881) | (259837) | (35.6) |
|  UMH Properties, Inc. | (19748) | (353884) | (48.5) |
|  UniFirst Corp. | (5490) | (1089436) | (149.2) |
|  Unisys Corp. | (24098) | (130370) | (17.9) |
|  Uniti Group, Inc. | (31752) | (209246) | (28.6) |
|  Universal Corp. | (9909) | (538752) | (73.8) |
|  Universal Health Realty Income Trust | (8749) | (479533) | (65.7) |
|  Urstadt Biddle Properties, Inc., Class A | (15658) | (294057) | (40.3) |
|  US Physical Therapy, Inc. | (179) | (17748) | (2.4) |
|  Vaxcyte, Inc. | (11440) | (518804) | (71.0) |
|  Vector Group Ltd. | (8059) | (104364) | (14.3) |
|  Velo3D, Inc. | (72303) | (173527) | (23.8) |
|  Ventyx Biosciences, Inc. | (15427) | (647934) | (88.7) |
|  Vera Therapeutics, Inc., Class A | (41617) | (352912) | (48.3) |
|  Verra Mobility Corp., Class A | (18021) | (278064) | (38.1) |
|  Veru, Inc. | (45802) | (263820) | (36.1) |
|  Vesync Co. Ltd. | (42000) | (22843) | (3.1) |
|  Victoria's Secret & Co. | (1614) | (68030) | (9.3) |
|  Virgin Galactic Holdings, Inc. | (72041) | (397666) | (54.4) |
|  Viridian Therapeutics, Inc. | (3216) | (117448) | (16.1) |
|  Vista Outdoor, Inc. | (10270) | (301424) | (41.3) |
|  Vital Energy, Inc. | (135) | (7598) | (1.0) |
|  Vobile Group Ltd. | (465000) | (266758) | (36.5) |
|  Vuzix Corp. | (39136) | (203899) | (27.9) |
|  W&T Offshore, Inc. | (8849) | (55041) | (7.5) |
|  WD-40 Co. | (414) | (72260) | (9.9) |
|  Werner Enterprises, Inc. | (1766) | (82949) | (11.4) |

---

67.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **United States (continued)** |  |  |  |
|  WeWork, Inc., Class A | (308070) | $(489831) | (67.1)% |
|  White Mountains Insurance Group Ltd. | (944) | (1442394) | (197.5) |
|  WideOpenWest, Inc. | (5356) | (61540) | (8.4) |
|  Workhorse Group, Inc. | (210134) | (464396) | (63.6) |
|  WW International, Inc. | (30516) | (151665) | (20.8) |
|  Xenia Hotels & Resorts, Inc. | (8762) | (130554) | (17.9) |
|  Xperi, Inc. | (10068) | (104204) | (14.3) |
|  Zentalis Pharmaceuticals, Inc. | (10567) | (249381) | (34.1) |
|  |  | (112965360) |  |
| **Preferred Stocks** |  |  |  |
| **Germany** |  |  |  |
|  Einhell Germany AG | (809) | (136314) | (18.6) |
|  Jungheinrich AG | (6660) | (264867) | (36.3) |
|  **Rights** |  |  |  |
| **Austria** |  |  |  |
|  Immofinanz AG | (34134) | (0) | 0.0 |
|  **Warrants** |  |  |  |
| **Australia** |  |  |  |
|  PointsBet Holdings Ltd., (Issued/Exercisable<br>06/20/22, 1 Share for 1 Warrant, Expires 07/08/24, Strike Price AUD 10.00) | (9593) | (0) | 0.0 |
|  **Total Reference Entity — Short** |  | (214734546) |  |
|  **Net Value of Reference Entity —<br>Goldman Sachs & Co**. | **Net Value of Reference Entity —<br>Goldman Sachs & Co**. | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730406 |  |

---

The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with Goldman Sachs & Co. as of period end, termination dates on February 27, 2023 and August 19, 2026:

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Reference Entity — Long** |  |  |  |
| **Common Stocks** |  |  |  |
| **Australia** |  |  |  |
|  AGL Energy Ltd. | 124805 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676852 | 30.3% |
|  Allkem Ltd. | 21602 | 200552 | 9.0 |
|  Altium Ltd. | 587 | 16252 | 0.7 |
|  ANZ Group Holdings Ltd. | 176 | 3132 | 0.1 |
|  Aristocrat Leisure Ltd. | 16110 | 388947 | 17.4 |
|  ASX Ltd. | 829 | 40567 | 1.8 |
|  Aurizon Holdings Ltd. | 203020 | 530645 | 23.8 |
|  Bank of Queensland Ltd. | 32867 | 162522 | 7.3 |
|  BHP Group Ltd. | 6072 | 212654 | 9.5 |
|  Boral Ltd. | 93623 | 228749 | 10.3 |
|  Challenger Ltd. | 78688 | 403415 | 18.1 |
|  Charter Hall Group | 68477 | 674264 | 30.2 |
|  Coles Group Ltd. | 15483 | 194739 | 8.7 |
|  Computershare Ltd. | 1171 | 19722 | 0.9 |
|  CSR Ltd. | 14157 | 52983 | 2.4 |
|  Deterra Royalties Ltd. | 30672 | 106417 | 4.8 |
|  Domain Holdings Australia Ltd. | 19129 | 43764 | 2.0 |
|  Domino's Pizza Enterprises Ltd. | 3150 | 169810 | 7.6 |
|  Downer EDI Ltd. | 427888 | 1145051 | 51.3 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Australia (continued)** |  |  |  |
|  Flight Centre Travel Group Ltd. | 41203 | $497727 | 22.3% |
|  GPT Group | 32110 | 104086 | 4.7 |
|  IDP Education Ltd. | 18262 | 406392 | 18.2 |
|  Iluka Resources Ltd. | 69583 | 535419 | 24.0 |
|  Insignia Financial Ltd. | 217207 | 539226 | 24.2 |
|  Magellan Financial Group Ltd. | 12642 | 80364 | 3.6 |
|  Medibank Private Ltd. | 386069 | 804291 | 36.0 |
|  Mineral Resources Ltd. | 6307 | 399297 | 17.9 |
|  Origin Energy Ltd. | 189456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005930 | 45.1 |
|  Orora Ltd. | 73054 | 154577 | 6.9 |
|  OZ Minerals Ltd. | 26147 | 517890 | 23.2 |
|  Perpetual Ltd. | 4875 | 88319 | 4.0 |
|  Pilbara Minerals Ltd. | 12248 | 41667 | 1.9 |
|  Pro Medicus Ltd. | 13501 | 644790 | 28.9 |
|  QBE Insurance Group Ltd. | 7926 | 77333 | 3.5 |
|  REA Group Ltd. | 155 | 13899 | 0.6 |
|  Region RE Ltd., Registered Shares | 22335 | 42859 | 1.9 |
|  Rio Tinto PLC | 6011 | 470669 | 21.1 |
|  SEEK Ltd. | 14202 | 245964 | 11.0 |
|  Star Entertainment Group Ltd. | 26534 | 36613 | 1.6 |
|  Steadfast Group Ltd. | 17278 | 64191 | 2.9 |
|  Suncorp Group Ltd. | 7605 | 67603 | 3.0 |
|  Treasury Wine Estates Ltd. | 106861 | 1100752 | 49.3 |
|  Westpac Banking Corp. | 81783 | 1376070 | 61.7 |
|  WiseTech Global Ltd. | 4652 | 201709 | 9.0 |
|  Worley Ltd. | 8056 | 88436 | 4.0 |
|  |  | 14877110 |  |
| **Austria** |  |  |  |
|  ANDRITZ AG | 1414 | 84559 | 3.8 |
|  Raiffeisen Bank International AG | 24849 | 447087 | 20.0 |
|  Verbund AG | 359 | 30567 | 1.4 |
|  |  | 562213 |  |
| **Belgium** |  |  |  |
|  Ackermans & van Haaren NV | 265 | 45860 | 2.0 |
|  Ageas SA/NV | 3499 | 170828 | 7.7 |
|  Anheuser-Busch InBev SA | 27514 | 1660793 | 74.4 |
|  Euronav NV | 74841 | 1177997 | 52.8 |
|  Sofina SA | 1692 | 401972 | 18.0 |
|  |  | 3457450 |  |
| **Bermuda** |  |  |  |
|  Hiscox Ltd. | 20498 | 285294 | 12.8 |
| **Canada** |  |  |  |
|  Algonquin Power & Utilities Corp. | 35673 | 260064 | 11.7 |
|  ARC Resources Ltd. | 14391 | 167213 | 7.5 |
|  Aritzia, Inc. | 2229 | 80395 | 3.6 |
|  Birchcliff Energy Ltd. | 10439 | 66923 | 3.0 |
|  Bombardier, Inc., Class B | 5727 | 276633 | 12.4 |
|  Canada Goose Holdings, Inc. | 2249 | 54403 | 2.4 |
|  CGI, Inc. | 19727 | 1690780 | 75.8 |
|  Crescent Point Energy Corp. | 143731 | 1073756 | 48.1 |
|  Element Fleet Management Corp. | 15630 | 220844 | 9.9 |
|  Emera, Inc. | 3066 | 122082 | 5.5 |
|  Empire Co. Ltd. | 1006 | 28950 | 1.3 |
|  Enerplus Corp. | 52401 | 929832 | 41.7 |
|  First Majestic Silver Corp. | 33458 | 264284 | 11.8 |
|  First Quantum Minerals Ltd. | 56461 | 1309948 | 58.7 |
|  FirstService Corp. | 1873 | 267672 | 12.0 |
|  GFL Environmental, Inc. | 2808 | 86653 | 3.9 |

---

S C H E D U L E O F I N V E S T M E N T S 68

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Canada (continued)** |  |  |  |
|  Gildan Activewear, Inc. | 52655 | $1651022 | 74.0% |
|  Imperial Oil Ltd. | 11751 | 642240 | 28.8 |
|  Ivanhoe Mines Ltd., Class A | 20003 | 187920 | 8.4 |
|  Kinaxis, Inc. | 3957 | 459923 | 20.6 |
|  Lithium Americas Corp. | 11223 | 282230 | 12.6 |
|  Lululemon Athletica, Inc. | 3033 | 930767 | 41.7 |
|  Lundin Mining Corp. | 2815 | 21305 | 1 |
|  MEG Energy Corp. | 20697 | 342059 | 15.3 |
|  Methanex Corp. | 6689 | 316616 | 14.2 |
|  National Bank of Canada | 5640 | 423673 | 19 |
|  Northland Power, Inc. | 1031 | 27694 | 1.2 |
|  NuVista Energy Ltd. | 5762 | 48286 | 2.2 |
|  Pan American Silver Corp. | 44070 | 803200 | 36 |
|  RioCan Real Estate Investment Trust | 10078 | 174815 | 7.8 |
|  Ritchie Bros Auctioneers, Inc. | 3082 | 186372 | 8.3 |
|  Stantec, Inc. | 9546 | 497622 | 22.3 |
|  Stelco Holdings, Inc. | 1306 | 50815 | 2.3 |
|  Suncor Energy, Inc. | 29831 | 1035358 | 46.4 |
|  TC Energy Corp. | 22551 | 971665 | 43.5 |
|  Teck Resources Ltd., Class B | 4242 | 183510 | 8.2 |
|  TELUS Corp. | 48110 | 1036649 | 46.5 |
|  Toronto-Dominion Bank | 14114 | 976540 | 43.8 |
|  Tourmaline Oil Corp. | 4099 | 191033 | 8.6 |
|  TransAlta Corp. | 12527 | 121641 | 5.4 |
|  West Fraser Timber Co. Ltd. | 1797 | 156247 | 7 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18619634 |  |
| **China** |  |  |  |
|  Budweiser Brewing Co. APAC Ltd. | 189400 | 597617 | 26.8 |
| **Denmark** |  |  |  |
|  AP Moller - Maersk A/S, Class A | 70 | 149166 | 6.7 |
|  Carlsberg A/S, Class B | 6993 | 992737 | 44.5 |
|  Coloplast A/S, Class B | 2353 | 284088 | 12.7 |
|  D/S Norden A/S | 4777 | 257506 | 11.5 |
|  Genmab A/S | 342 | 134029 | 6 |
|  H Lundbeck A/S | 11703 | 43486 | 2 |
|  Jyske Bank AS, Registered Shares | 1857 | 133933 | 6 |
|  Novozymes A/S | 14629 | 761243 | 34.1 |
|  ROCKWOOL A/S, B Shares | 998 | 286139 | 12.8 |
|  Royal Unibrew A/S | 3213 | 225623 | 10.1 |
|  SimCorp A/S | 2027 | 141951 | 6.4 |
|  |  | 3409901 |  |
| **Finland** |  |  |  |
|  Kone OYJ, Class B | 4496 | 245194 | 11 |
|  Metso Outotec OYJ | 4335 | 49822 | 2.2 |
|  Neste OYJ | 2607 | 124620 | 5.6 |
|  Nokia OYJ | 61172 | 290048 | 13 |
|  Nokian Renkaat OYJ | 21875 | 262031 | 11.8 |
|  Wartsila OYJ Abp | 58049 | 552104 | 24.7 |
|  |  | 1523819 |  |
| **France** |  |  |  |
|  Accor SA | 35086 | 1138820 | 51 |
|  Aeroports de Paris | 729 | 113095 | 5.1 |
|  Air Liquide SA | 9495 | 1511853 | 67.8 |
|  ALD SA | 84279 | 1059534 | 47.5 |
|  Alstom SA | 14901 | 443084 | 19.9 |
|  Bouygues SA | 1994 | 65690 | 2.9 |
|  Bureau Veritas SA | 869 | 24846 | 1.1 |
|  Carrefour SA | 61456 | 1168953 | 52.4 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **France (continued)** |  |  |  |
|  Cie Generale des Etablissements Michelin SCA | 20876 | $660095 | 29.6% |
|  Covivio | 10043 | 689395 | 30.9 |
|  Danone SA | 15443 | 846883 | 38 |
|  Engie SA | 462267 | 6564129 | 294.2 |
|  Faurecia SE | 13199 | 262310 | 11.8 |
|  Gaztransport Et Technigaz SA | 4423 | 488990 | 21.9 |
|  Gecina SA | 4884 | 578508 | 25.9 |
|  Hermes International | 137 | 256397 | 11.5 |
|  ICADE | 15460 | 734353 | 32.9 |
|  Kering SA | 94 | 58301 | 2.6 |
|  Klepierre SA | 77122 | 1957383 | 87.7 |
|  LVMH Moet Hennessy Louis Vuitton SE | 1887 | 1647305 | 73.8 |
|  Neoen SA | 30860 | 1158775 | 51.9 |
|  Pernod Ricard SA | 3472 | 718808 | 32.2 |
|  Remy Cointreau SA | 6137 | 1155530 | 51.8 |
|  Renault SA | 38906 | 1581896 | 70.9 |
|  Schneider Electric SE | 9334 | 1514120 | 67.9 |
|  Societe Generale SA | 30001 | 893027 | 40 |
|  Ubisoft Entertainment SA | 3554 | 73591 | 3.3 |
|  Valeo | 56710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1239383 | 55.5 |
|  Vinci SA | 858 | 96673 | 4.3 |
|  Wendel SE | 8430 | 892636 | 40 |
|  |  | 29594363 |  |
| **Germany** |  |  |  |
|  1&1 AG | 7591 | 105959 | 4.7 |
|  Adidas AG | 21427 | 3450094 | 154.6 |
|  Allianz SE, Registered Shares | 873 | 208746 | 9.3 |
|  BASF SE | 6655 | 381567 | 17.1 |
|  Bayerische Motoren Werke AG | 9392 | 956713 | 42.9 |
|  Beiersdorf AG | 4969 | 604119 | 27.1 |
|  Commerzbank AG | 10962 | 125311 | 5.6 |
|  Covestro AG | 6003 | 276405 | 12.4 |
|  DWS Group GmbH & Co. KGaA | 18563 | 667693 | 29.9 |
|  E.ON SE | 113507 | 1237557 | 55.5 |
|  Encavis AG | 1318 | 25537 | 1.1 |
|  Evonik Industries AG | 17855 | 396891 | 17.8 |
|  Fraport AG Frankfurt Airport Services Worldwide | 20832 | 1185574 | 53.1 |
|  Freenet AG | 39341 | 956350 | 42.9 |
|  K&S AG, Registered Shares | 9327 | 223255 | 10 |
|  Knorr-Bremse AG | 7204 | 473505 | 21.2 |
|  LANXESS AG | 479 | 23907 | 1.1 |
|  Mercedes-Benz Group AG | 11709 | 871290 | 39 |
|  Nemetschek SE | 2408 | 128742 | 5.8 |
|  ProSiebenSat.1 Media SE | 54594 | 561509 | 25.2 |
|  Rheinmetall AG | 343 | 80145 | 3.6 |
|  SAP SE | 7919 | 938718 | 42.1 |
|  Scout24 SE | 5550 | 323110 | 14.5 |
|  Siemens AG, Registered Shares | 9853 | 1539091 | 69 |
|  Siemens Energy AG | 14224 | 297407 | 13.3 |
|  SMA Solar Technology AG | 261 | 22019 | 1 |
|  SUSE SA | 721 | 13996 | 0.6 |
|  Talanx AG | 12024 | 594836 | 26.7 |
|  TeamViewer AG | 1244 | 17524 | 0.8 |
|  thyssenkrupp AG | 2804 | 22028 | 1 |
|  VERBIO Vereinigte BioEnergie AG | 316 | 19921 | 0.9 |
|  Wacker Chemie AG | 2443 | 369234 | 16.5 |
|  |  | 17098753 |  |
| **Hong Kong** |  |  |  |
|  AIA Group Ltd. | 66400 | 750828 | 33.6 |
|  ASMPT Ltd. | 25100 | 207317 | 9.3 |

---

69.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Hong Kong (continued)** |  |  |  |
|  Bank of East Asia Ltd. | 186800 | $239966 | 10.8% |
|  Cafe de Coral Holdings Ltd. | 60000 | 105039 | 4.7 |
|  Cathay Pacific Airways Ltd. | 778000 | 775364 | 34.7 |
|  Dah Sing Banking Group Ltd. | 204000 | 164955 | 7.4 |
|  First Pacific Co. Ltd. | 310000 | 108107 | 4.8 |
|  Galaxy Entertainment Group Ltd. | 27000 | 187955 | 8.4 |
|  Haitong International Securities Group Ltd. | 53900 | 6203 | 0.3 |
|  Hang Lung Group Ltd. | 7000 | 12918 | 0.6 |
|  Hang Lung Properties Ltd. | 185000 | 348826 | 15.6 |
|  Hongkong Land Holdings Ltd. | 44900 | 219506 | 9.8 |
|  Hysan Development Co. Ltd. | 6000 | 20187 | 0.9 |
|  Link REIT | 61800 | 494669 | 22.2 |
|  New World Development Co. Ltd. | 5000 | 14944 | 0.7 |
|  Shangri-La Asia Ltd. | 18000 | 15716 | 0.7 |
|  SITC International Holdings Co. Ltd. | 72000 | 157291 | 7.1 |
|  Swire Pacific Ltd., Class A | 54000 | 494850 | 22.2 |
|  Swire Properties Ltd. | 266000 | 747608 | 33.5 |
|  United Energy Group Ltd. | 2804000 | 275767 | 12.4 |
|  Wharf Holdings Ltd. | 30000 | 78154 | 3.5 |
|  Yue Yuen Industrial Holdings Ltd. | 160500 | 263296 | 11.8 |
|  |  | 5689466 |  |
| **Ireland** |  |  |  |
|  AIB Group PLC | 14374 | 60379 | 2.7 |
|  Alkermes PLC | 8281 | 237168 | 10.6 |
|  Experian PLC | 5117 | 187126 | 8.4 |
|  Glanbia PLC | 26957 | 328954 | 14.7 |
|  James Hardie Industries PLC | 15479 | 347326 | 15.6 |
|  Kerry Group PLC, Class A | 836 | 78333 | 3.5 |
|  Kingspan Group PLC | 18064 | 1161805 | 52.1 |
|  Medtronic PLC | 27562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2306664 | 103.4 |
|  |  | 4707755 |  |
| **Israel** |  |  |  |
|  Alony Hetz Properties & Investments Ltd. | 24219 | 259851 | 11.6 |
|  Check Point Software Technologies Ltd. | 3407 | 433371 | 19.4 |
|  Elbit Systems Ltd. | 1203 | 201965 | 9 |
|  Gav-Yam Lands Corp. Ltd. | 7600 | 61405 | 2.8 |
|  Harel Insurance Investments & Financial Services Ltd. | 7685 | 74343 | 3.3 |
|  Nice Ltd. | 1886 | 390041 | 17.5 |
|  Nova Ltd. | 4126 | 374228 | 16.8 |
|  Phoenix Holdings Ltd. | 18261 | 196390 | 8.8 |
|  Tower Semiconductor Ltd. | 903 | 37736 | 1.7 |
|  Wix.com Ltd. | 12486 | 1086032 | 48.7 |
|  |  | 3115362 |  |
| **Italy** |  |  |  |
|  A2A SpA | 1064814 | 1603059 | 71.8 |
|  Azimut Holding SpA | 6053 | 151117 | 6.8 |
|  Banca Generali SpA | 412 | 15139 | 0.7 |
|  Buzzi Unicem SpA | 11218 | 252609 | 11.3 |
|  Enel SpA | 325660 | 1917525 | 85.9 |
|  FinecoBank Banca Fineco SpA | 5340 | 95863 | 4.3 |
|  Hera SpA | 59977 | 172291 | 7.7 |
|  Infrastrutture Wireless Italiane SpA | 13507 | 148020 | 6.6 |
|  Intesa Sanpaolo SpA | 465448 | 1223788 | 54.9 |
|  Italgas SpA | 23371 | 136807 | 6.1 |
|  Iveco Group NV | 2846 | 23310 | 1 |
|  Mediobanca Banca di Credito Finanziario SpA | 6662 | 71616 | 3.2 |
|  Moncler SpA | 18231 | 1141035 | 51.1 |
|  PRADA SpA | 176400 | 1127999 | 50.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Italy (continued)** |  |  |  |
|  Prysmian SpA | 6564 | $268059 | 12.0% |
|  Recordati Industria Chimica e Farmaceutica SpA | 3097 | 135675 | 6.1 |
|  Reply SpA | 4107 | 533118 | 23.9 |
|  Saipem SpA | 30394 | 46543 | 2.1 |
|  Snam SpA | 18987 | 96711 | 4.3 |
|  UniCredit SpA | 8180 | 159765 | 7.2 |
|  UnipolSai Assicurazioni SpA | 98560 | 262171 | 11.8 |
|  |  | 9582220 |  |
| **Japan** |  |  |  |
|  Acom Co. Ltd. | 157100 | 391625 | 17.6 |
|  Aeon Co. Ltd. | 8800 | 180415 | 8.1 |
|  AEON Financial Service Co. Ltd. | 12700 | 128734 | 5.8 |
|  Ain Holdings, Inc. | 2400 | 103774 | 4.7 |
|  Aisin Corp. | 9500 | 277167 | 12.4 |
|  Alfresa Holdings Corp. | 48300 | 604571 | 27.1 |
|  Amano Corp. | 3800 | 69525 | 3.1 |
|  ANA Holdings, Inc. | 2200 | 48692 | 2.2 |
|  Anritsu Corp. | 34900 | 334321 | 15.0 |
|  Aozora Bank Ltd. | 38400 | 767777 | 34.4 |
|  Astellas Pharma, Inc. | 13500 | 198722 | 8.9 |
|  AZ-COM MARUWA Holdings, Inc. | 13400 | 169131 | 7.6 |
|  Benesse Holdings, Inc. | 37400 | 572055 | 25.6 |
|  Brother Industries Ltd. | 20900 | 324625 | 14.5 |
|  Canon Marketing Japan, Inc. | 3300 | 78327 | 3.5 |
|  Canon, Inc. | 12900 | 286281 | 12.8 |
|  Coca-Cola Bottlers Japan Holdings, Inc. | 107000 | 1126589 | 50.5 |
|  COMSYS Holdings Corp. | 103100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1966364 | 88.1 |
|  Cosmos Pharmaceutical Corp. | 2900 | 283351 | 12.7 |
|  CyberAgent, Inc. | 57600 | 538672 | 24.1 |
|  Daicel Corp. | 18100 | 133547 | 6.0 |
|  Dai-ichi Life Holdings, Inc. | 5300 | 124353 | 5.6 |
|  Daiichi Sankyo Co. Ltd. | 9400 | 295225 | 13.2 |
|  Daikin Industries Ltd. | 1700 | 295281 | 13.2 |
|  Daiwa House Industry Co. Ltd. | 4900 | 117674 | 5.3 |
|  DeNA Co. Ltd. | 45400 | 636589 | 28.5 |
|  DMG Mori Co. Ltd. | 64700 | 988242 | 44.3 |
|  Dowa Holdings Co. Ltd. | 12500 | 436414 | 19.6 |
|  Ebara Corp. | 26200 | 1112441 | 49.9 |
|  EXEO Group, Inc. | 30800 | 560054 | 25.1 |
|  Ezaki Glico Co. Ltd. | 2500 | 69860 | 3.1 |
|  Fast Retailing Co. Ltd. | 1800 | 1093247 | 49.0 |
|  Fuji Media Holdings, Inc. | 35300 | 298146 | 13.4 |
|  Fujitsu Ltd. | 5900 | 840038 | 37.6 |
|  GMO internet group, Inc. | 10900 | 214511 | 9.6 |
|  GMO Payment Gateway, Inc. | 17800 | 1647068 | 73.8 |
|  Hamamatsu Photonics KK | 3100 | 165634 | 7.4 |
|  Horiba Ltd. | 1300 | 59868 | 2.7 |
|  House Foods Group, Inc. | 4500 | 96009 | 4.3 |
|  Hulic Co. Ltd. | 131700 | 1082546 | 48.5 |
|  Information Services International-Dentsu Ltd. | 5600 | 185518 | 8.3 |
|  INFRONEER Holdings, Inc. | 66200 | 528438 | 23.7 |
|  Internet Initiative Japan, Inc. | 7000 | 131360 | 5.9 |
|  Itochu Techno-Solutions Corp. | 28500 | 705589 | 31.6 |
|  J Front Retailing Co. Ltd. | 73700 | 686404 | 30.8 |
|  Japan Post Bank Co. Ltd. | 59700 | 530427 | 23.8 |
|  JTEKT Corp. | 8900 | 65978 | 3.0 |
|  Kadokawa Corp. | 15900 | 297510 | 13.3 |
|  Kakaku.com, Inc. | 5800 | 96698 | 4.3 |
|  Kandenko Co. Ltd. | 35400 | 237928 | 10.7 |
|  Kaneka Corp. | 13700 | 359685 | 16.1 |
|  Kawasaki Kisen Kaisha Ltd. | 15300 | 319477 | 14.3 |

---

S C H E D U L E O F I N V E S T M E N T S 70

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  KDDI Corp. | 18300 | $571755 | 25.6% |
|  Kenedix Office Investment Corp. | 41 | 97398 | 4.4 |
|  Kinden Corp. | 61600 | 706031 | 31.6 |
|  Kirin Holdings Co. Ltd. | 38300 | 590192 | 26.5 |
|  Koei Tecmo Holdings Co. Ltd. | 3300 | 59680 | 2.7 |
|  Koito Manufacturing Co. Ltd. | 75500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1273547 | 57.1 |
|  Kokuyo Co. Ltd. | 35600 | 507625 | 22.8 |
|  Kose Corp. | 3000 | 330999 | 14.8 |
|  K's Holdings Corp. | 23400 | 206878 | 9.3 |
|  Kubota Corp. | 46600 | 700318 | 31.4 |
|  Kusuri no Aoki Holdings Co. Ltd. | 6700 | 377505 | 16.9 |
|  Kyocera Corp. | 15800 | 819884 | 36.7 |
|  Kyowa Kirin Co. Ltd. | 9600 | 214089 | 9.6 |
|  Lawson, Inc. | 55900 | 2235232 | 100.2 |
|  Lintec Corp. | 13500 | 233780 | 10.5 |
|  Lion Corp. | 57000 | 630974 | 28.3 |
|  Lixil Corp. | 13000 | 224429 | 10.1 |
|  Mani, Inc. | 28000 | 409557 | 18.4 |
|  Maruichi Steel Tube Ltd. | 1700 | 36605 | 1.6 |
|  McDonald's Holdings Co. Japan Ltd. | 9300 | 367419 | 16.5 |
|  Medipal Holdings Corp. | 1800 | 24032 | 1.1 |
|  MISUMI Group, Inc. | 3400 | 85569 | 3.8 |
|  Mitsubishi Chemical Group Corp. | 37300 | 209307 | 9.4 |
|  Mitsubishi Electric Corp. | 41800 | 460667 | 20.6 |
|  Mitsubishi Estate Co. Ltd. | 60200 | 773758 | 34.7 |
|  Mitsubishi Gas Chemical Co., Inc. | 72200 | 1055023 | 47.3 |
|  Mitsubishi HC Capital, Inc. | 56100 | 286343 | 12.8 |
|  Mitsubishi UFJ Financial Group, Inc. | 269900 | 1976985 | 88.6 |
|  Mitsui Chemicals, Inc. | 14800 | 348370 | 15.6 |
|  Mitsui Fudosan Co. Ltd. | 17400 | 326139 | 14.6 |
|  Mizuho Financial Group, Inc. | 15400 | 240555 | 10.8 |
|  MS&AD Insurance Group Holdings, Inc. | 43100 | 1382377 | 62.0 |
|  Nabtesco Corp. | 1500 | 43918 | 2.0 |
|  Nagoya Railroad Co. Ltd. | 14200 | 234795 | 10.5 |
|  NEC Corp. | 7900 | 285408 | 12.8 |
|  NEC Networks & System Integration Corp. | 48200 | 643683 | 28.8 |
|  Nexon Co. Ltd. | 1700 | 40814 | 1.8 |
|  NGK Insulators Ltd. | 40600 | 561956 | 25.2 |
|  NGK Spark Plug Co. Ltd. | 12100 | 236447 | 10.6 |
|  Nidec Corp. | 2500 | 138547 | 6.2 |
|  Nihon M&A Center Holdings, Inc. | 25100 | 256607 | 11.5 |
|  Nippon Express Holdings, Inc. | 1100 | 63466 | 2.8 |
|  Nippon Shinyaku Co. Ltd. | 3100 | 159545 | 7.2 |
|  Nippon Telegraph & Telephone Corp. | 136400 | 4090025 | 183.3 |
|  Nippon Television Holdings, Inc. | 148300 | 1198967 | 53.7 |
|  Nipro Corp. | 23600 | 189447 | 8.5 |
|  Nissan Motor Co. Ltd. | 200000 | 718588 | 32.2 |
|  Nitto Denko Corp. | 2900 | 187449 | 8.4 |
|  Nomura Real Estate Holdings, Inc. | 34200 | 753783 | 33.8 |
|  Nomura Research Institute Ltd. | 47400 | 1137959 | 51.0 |
|  NS Solutions Corp. | 19200 | 494179 | 22.1 |
|  NSK Ltd. | 141000 | 793035 | 35.5 |
|  Obayashi Corp. | 373200 | 2894809 | 129.7 |
|  OBIC Business Consultants Co. Ltd. | 4500 | 176725 | 7.9 |
|  Odakyu Electric Railway Co. Ltd. | 8100 | 106494 | 4.8 |
|  Olympus Corp. | 4200 | 78958 | 3.5 |
|  Omron Corp. | 21600 | 1249788 | 56.0 |
|  Oracle Corp. Japan | 900 | 61656 | 2.8 |
|  Oriental Land Co. Ltd. | 1800 | 299916 | 13.4 |
|  Otsuka Corp. | 35300 | 1161354 | 52.0 |
|  Otsuka Holdings Co. Ltd. | 7300 | 234187 | 10.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  PALTAC Corp. | 1600 | $57931 | 2.6% |
|  Panasonic Holdings Corp. | 37200 | 344969 | 15.5 |
|  Penta-Ocean Construction Co. Ltd. | 35500 | 177059 | 7.9 |
|  Pigeon Corp. | 2500 | 39732 | 1.8 |
|  Pola Orbis Holdings, Inc. | 69800 | 1007055 | 45.1 |
|  Resona Holdings, Inc. | 10000 | 55337 | 2.5 |
|  Ricoh Co. Ltd. | 60000 | 465757 | 20.9 |
|  Rohm Co. Ltd. | 3800 | 304500 | 13.6 |
|  Sanrio Co. Ltd. | 6800 | 259367 | 11.6 |
|  Santen Pharmaceutical Co. Ltd. | 94700 | 738258 | 33.1 |
|  Sapporo Holdings Ltd. | 13900 | 339453 | 15.2 |
|  Sawai Group Holdings Co. Ltd. | 24000 | 742554 | 33.3 |
|  Sega Sammy Holdings, Inc. | 9600 | 152011 | 6.8 |
|  Shimizu Corp. | 107300 | 601491 | 27.0 |
|  Shiseido Co. Ltd. | 400 | 20790 | 0.9 |
|  Skylark Holdings Co. Ltd. | 55600 | 661689 | 29.7 |
|  SoftBank Group Corp. | 18100 | 856891 | 38.4 |
|  Sohgo Security Services Co. Ltd. | 38500 | 1059977 | 47.5 |
|  Sompo Holdings, Inc. | 19900 | 856673 | 38.4 |
|  Sugi Holdings Co. Ltd. | 9500 | 415227 | 18.6 |
|  Sumitomo Bakelite Co. Ltd. | 5500 | 179212 | 8.0 |
|  Sumitomo Corp. | 10100 | 181294 | 8.1 |
|  Sumitomo Electric Industries Ltd. | 21800 | 261952 | 11.7 |
|  Sumitomo Forestry Co. Ltd. | 10200 | 190715 | 8.5 |
|  Sumitomo Heavy Industries Ltd. | 10000 | 222373 | 10.0 |
|  Sumitomo Mitsui Trust Holdings, Inc. | 12200 | 444429 | 19.9 |
|  Sumitomo Pharma Co. Ltd. | 23100 | 162413 | 7.3 |
|  Sumitomo Realty & Development Co. Ltd. | 24700 | 602115 | 27.0 |
|  Sumitomo Rubber Industries Ltd. | 6600 | 58593 | 2.6 |
|  Sundrug Co. Ltd. | 18600 | 526256 | 23.6 |
|  Suntory Beverage & Food Ltd. | 39100 | 1320319 | 59.2 |
|  T&D Holdings, Inc. | 15800 | 252899 | 11.3 |
|  Taisei Corp. | 35700 | 1232434 | 55.2 |
|  Taisho Pharmaceutical Holdings Co. Ltd. | 13500 | 567887 | 25.5 |
|  Takara Bio, Inc. | 19600 | 259466 | 11.6 |
|  TBS Holdings, Inc. | 23800 | 277851 | 12.5 |
|  Terumo Corp. | 11400 | 331858 | 14.9 |
|  Toda Corp. | 34200 | 186543 | 8.4 |
|  Tokyo Ohka Kogyo Co. Ltd. | 11200 | 552008 | 24.7 |
|  Tokyo Tatemono Co. Ltd. | 97400 | 1207517 | 54.1 |
|  Toray Industries, Inc. | 34600 | 212584 | 9.5 |
|  Toyo Tire & Rubber Co. Ltd. | 13500 | 161507 | 7.2 |
|  Toyoda Gosei Co. Ltd. | 12700 | 210872 | 9.5 |
|  Toyota Boshoku Corp. | 6200 | 91958 | 4.1 |
|  Trend Micro, Inc. | 17200 | 851641 | 38.2 |
|  TS Tech Co. Ltd. | 43700 | 544358 | 24.4 |
|  Tsumura & Co. | 3300 | 70561 | 3.2 |
|  Tsuruha Holdings, Inc. | 30500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245640 | 100.6 |
|  Ube Industries Ltd. | 43800 | 687019 | 30.8 |
|  Ulvac, Inc. | 2700 | 126311 | 5.7 |
|  Welcia Holdings Co. Ltd. | 16200 | 362081 | 16.2 |
|  Yakult Honsha Co. Ltd. | 7200 | 513993 | 23.0 |
|  Yamaguchi Financial Group, Inc. | 17600 | 121728 | 5.5 |
|  Yamato Kogyo Co. Ltd. | 2300 | 87174 | 3.9 |
|  Yamazaki Baking Co. Ltd. | 24500 | 286643 | 12.8 |
|  Yaskawa Electric Corp. | 12200 | 476887 | 21.4 |
|  Z Holdings Corp. | 32000 | 93111 | 4.2 |
|  Zensho Holdings Co. Ltd. | 1300 | 33183 | 1.5 |
|  ZOZO, Inc. | 25300 | 655857 | 29.4 |
|  |  | 85125967 |  |

---

71.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Luxembourg** |  |  |  |
|  ArcelorMittal SA | 6455 | $200253 | 9.0% |
| **Macau** |  |  |  |
|  Wynn Macau Ltd. | 158400 | 181294 | 8.1 |
| **Netherlands** |  |  |  |
|  ABN AMRO Bank NV | 29551 | 490474 | 22.0 |
|  ASML Holding NV | 714 | 467753 | 21.0 |
|  ASR Nederland NV | 9674 | 457885 | 20.5 |
|  CTP NV | 1150 | 16609 | 0.7 |
|  Heineken Holding NV | 6450 | 532550 | 23.9 |
|  Koninklijke Philips NV | 46764 | 807402 | 36.2 |
|  Koninklijke Vopak NV | 16836 | 507278 | 22.7 |
|  Randstad NV | 13351 | 855777 | 38.4 |
|  Signify NV | 6313 | 228565 | 10.2 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4364293 |  |
| **New Zealand** |  |  |  |
|  a2 Milk Co. Ltd. | 63698 | 307995 | 13.8 |
|  Infratil Ltd. | 62942 | 362360 | 16.2 |
|  |  | 670355 |  |
| **Norway** |  |  |  |
|  AutoStore Holdings Ltd. | 63587 | 146840 | 6.6 |
|  Equinor ASA | 44364 | 1352066 | 60.6 |
|  Gjensidige Forsikring ASA | 21183 | 380731 | 17.1 |
|  Golden Ocean Group Ltd. | 17096 | 163552 | 7.3 |
|  Kongsberg Gruppen ASA | 17524 | 697660 | 31.3 |
|  NEL ASA | 41977 | 71942 | 3.2 |
|  Nordic Semiconductor ASA | 10533 | 167960 | 7.5 |
|  TOMRA Systems ASA | 24845 | 438597 | 19.7 |
|  Var Energi ASA | 198191 | 602872 | 27.0 |
|  |  | 4022220 |  |
| **Poland** |  |  |  |
|  InPost SA | 20813 | 200994 | 9.0 |
| **Portugal** |  |  |  |
|  EDP - Energias de Portugal SA | 34042 | 168686 | 7.6 |
| **Singapore** |  |  |  |
|  City Developments Ltd. | 27100 | 171999 | 7.7 |
|  ComfortDelGro Corp. Ltd. | 139000 | 127345 | 5.7 |
|  NetLink NBN Trust | 141200 | 94168 | 4.2 |
|  SATS Ltd. | 203700 | 470080 | 21.1 |
|  Sembcorp Industries Ltd. | 271600 | 748984 | 33.6 |
|  Singapore Post Ltd. | 535400 | 228723 | 10.3 |
|  StarHub Ltd. | 83100 | 72278 | 3.2 |
|  Suntec Real Estate Investment Trust | 394300 | 421563 | 18.9 |
|  |  | 2335140 |  |
| **Spain** |  |  |  |
|  Acciona SA | 533 | 103988 | 4.7 |
|  Banco Bilbao Vizcaya Argentaria SA | 133566 | 943480 | 42.3 |
|  Banco de Sabadell SA | 27359 | 35768 | 1.6 |
|  Bankinter SA | 43883 | 316616 | 14.2 |
|  EDP Renovaveis SA | 10764 | 234129 | 10.5 |
|  Fluidra SA | 9400 | 165948 | 7.4 |
|  IBERDROLA S.A | 306 | 3574 | 0.2 |
|  Indra Sistemas SA | 4264 | 52065 | 2.3 |
|  Inmobiliaria Colonial Socimi SA | 11795 | 86030 | 3.9 |
|  Mapfre SA | 21119 | 42480 | 1.9 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Spain (continued)** |  |  |  |
|  Merlin Properties Socimi SA | 86344 | $843812 | 37.8% |
|  Repsol SA | 74917 | 1230649 | 55.1 |
|  Solaria Energia y Medio Ambiente SA | 15046 | 308724 | 13.8 |
|  |  | 4367263 |  |
| **Sweden** |  |  |  |
|  Alfa Laval AB | 11639 | 365763 | 16.4 |
|  Atlas Copco AB, A Shares | 21725 | 257790 | 11.6 |
|  Atlas Copco AB, B Shares | 54371 | 573484 | 25.7 |
|  Avanza Bank Holding AB | 24906 | 574671 | 25.8 |
|  Castellum AB | 2522 | 34438 | 1.5 |
|  Electrolux AB, Class B | 957 | 13555 | 0.6 |
|  Elekta AB, B Shares | 31721 | 230891 | 10.3 |
|  Epiroc AB, Class B | 12981 | 216425 | 9.7 |
|  EQT AB | 15984 | 360675 | 16.2 |
|  Getinge AB, B Shares | 4266 | 96103 | 4.3 |
|  H & M Hennes & Mauritz AB, B Shares | 12466 | 153535 | 6.9 |
|  Industrivarden AB, A Shares | 12708 | 336639 | 15.1 |
|  Industrivarden AB, C Shares | 37944 | 999622 | 44.8 |
|  Investor AB, A Shares | 6955 | 138812 | 6.2 |
|  L E Lundbergforetagen AB, B Shares | 5306 | 245706 | 11.0 |
|  Saab AB, Class B | 15638 | 640196 | 28.7 |
|  SKF AB | 12791 | 226379 | 10.1 |
|  Spotify Technology SA | 10413 | 1173753 | 52.6 |
|  Sweco AB, B Shares | 9890 | 107285 | 4.8 |
|  Tele2 AB, B Shares | 43929 | 379394 | 17.0 |
|  Thule Group AB | 3959 | 94873 | 4.3 |
|  Volvo AB, A Shares | 2293 | 47634 | 2.1 |
|  |  | 7267623 |  |
| **Switzerland** |  |  |  |
|  ABB Ltd., Registered Shares | 37027 | 1289119 | 57.8 |
|  Accelleron Industries AG | 4675 | 110420 | 5.0 |
|  Banque Cantonale Vaudoise, Registered Shares | 5139 | 488498 | 21.9 |
|  Belimo Holding AG, Registered Shares | 882 | 465206 | 20.8 |
|  Chocoladefabriken Lindt & Spruengli AG | 99 | 1087289 | 48.7 |
|  Chocoladefabriken Lindt & Spruengli AG, Registered Shares | 1 | 112559 | 5.0 |
|  Clariant AG, Registered Shares | 28378 | 486638 | 21.8 |
|  Geberit AG, Registered Shares | 2614 | 1487320 | 66.7 |
|  Georg Fischer AG, Registered Shares | 7563 | 521450 | 23.4 |
|  Idorsia Ltd. | 18194 | 306036 | 13.7 |
|  Partners Group Holding AG | 476 | 446629 | 20.0 |
|  Roche Holding AG | 342 | 125186 | 5.6 |
|  SGS SA, Registered Shares | 157 | 382866 | 17.2 |
|  Sika AG, Registered Shares | 4160 | 1182051 | 53.0 |
|  Straumann Holding AG, Registered Shares | 946 | 122913 | 5.5 |
|  Swatch Group AG | 2177 | 788223 | 35.3 |
|  TE Connectivity Ltd. | 760 | 96634 | 4.3 |
|  Tecan Group AG, Registered Shares | 241 | 101141 | 4.5 |
|  Temenos AG, Registered Shares | 9531 | 680329 | 30.5 |
|  VAT Group AG | 1948 | 606420 | 27.2 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10886927 |  |
| **United Kingdom** |  |  |  |
|  Ashtead Group PLC | 2335 | 153804 | 6.9 |
|  AstraZeneca PLC | 3029 | 396837 | 17.8 |
|  Atlantica Sustainable Infrastructure PLC | 44606 | 1223097 | 54.8 |
|  Aviva PLC | 39770 | 224297 | 10.0 |
|  Beazley PLC | 183179 | 1507453 | 67.6 |

---

S C H E D U L E O F I N V E S T M E N T S 72

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United Kingdom (continued)** |  |  |  |
|  Bellway PLC | 6165 | $161249 | 7.2% |
|  Burberry Group PLC | 38128 | 1161414 | 52.0 |
|  Centrica PLC | 929160 | 1157549 | 51.9 |
|  ConvaTec Group PLC | 249832 | 724629 | 32.5 |
|  Croda International PLC | 12764 | 1087962 | 48.8 |
|  Derwent London PLC | 8381 | 267352 | 12.0 |
|  Diageo PLC | 40538 | 1772567 | 79.4 |
|  Diploma PLC | 4850 | 164063 | 7.4 |
|  Direct Line Insurance Group PLC | 594324 | 1303141 | 58.4 |
|  Dr. Martens PLC | 91910 | 176151 | 7.9 |
|  Drax Group PLC | 103660 | 827878 | 37.1 |
|  easyJet PLC | 49898 | 303958 | 13.6 |
|  Hammerson PLC | 45 | 15 | 0.0 |
|  Hargreaves Lansdown PLC | 48668 | 535797 | 24.0 |
|  Hays PLC | 349084 | 532614 | 23.9 |
|  IMI PLC | 103540 | 1853893 | 83.1 |
|  Indivior PLC | 51043 | 1225613 | 54.9 |
|  Intermediate Capital Group PLC | 15875 | 273168 | 12.2 |
|  ITV PLC | 1136065 | 1137691 | 51.0 |
|  Johnson Matthey PLC | 30432 | 850050 | 38.1 |
|  Kingfisher PLC | 24714 | 85261 | 3.8 |
|  Liberty Global PLC, Class A | 18470 | 400614 | 18.0 |
|  Liberty Global PLC, Class C | 22755 | 508574 | 22.8 |
|  LivaNova PLC | 7640 | 429368 | 19.2 |
|  London Stock Exchange Group PLC | 5453 | 497885 | 22.3 |
|  Melrose Industries PLC | 61759 | 108891 | 4.9 |
|  Moneysupermarket.com Group PLC | 3 | 9 | 0.0 |
|  Nomad Foods Ltd. | 29337 | 521905 | 23.4 |
|  Persimmon PLC | 8337 | 145608 | 6.5 |
|  Renishaw PLC | 2775 | 135443 | 6.1 |
|  Rotork PLC | 32324 | 127332 | 5.7 |
|  Schroders PLC | 160319 | 948092 | 42.5 |
|  Segro PLC | 90303 | 929542 | 41.7 |
|  Shell PLC | 5322 | 156242 | 7.0 |
|  Smith & Nephew PLC | 5467 | 75501 | 3.4 |
|  Spectris PLC | 481 | 19069 | 0.9 |
|  Spirax-Sarco Engineering PLC | 7732 | 1104454 | 49.5 |
|  SSE PLC | 114065 | 2434680 | 109.1 |
|  St. James's Place PLC | 13727 | 208153 | 9.3 |
|  TechnipFMC PLC | 51061 | 709237 | 31.8 |
|  Travis Perkins PLC | 86795 | 1088823 | 48.8 |
|  Tritax Big Box REIT PLC | 192406 | 370721 | 16.6 |
|  UNITE Group PLC | 2041 | 25143 | 1.1 |
|  United Utilities Group PLC | 1925 | 25189 | 1.1 |
|  Weir Group PLC | 10668 | 235165 | 10.5 |
|  WPP PLC | 3033 | 35437 | 1.6 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30348580 |  |
| **United States** |  |  |  |
|  3M Co. | 3695 | 425221 | 19.1 |
|  A O Smith Corp. | 16994 | 1150494 | 51.6 |
|  Acadia Healthcare Co., Inc. | 7053 | 592593 | 26.6 |
|  Acuity Brands, Inc. | 339 | 63908 | 2.9 |
|  Adobe, Inc. | 5564 | 2060572 | 92.3 |
|  Advance Auto Parts, Inc. | 13190 | 2008573 | 90.0 |
|  AECOM | 40085 | 3498218 | 156.8 |
|  Agilent Technologies, Inc. | 1173 | 178390 | 8.0 |
|  Akamai Technologies, Inc. | 5805 | 516355 | 23.1 |
|  Alcoa Corp. | 300 | 15672 | 0.7 |
|  Align Technology Inc. | 2856 | 770349 | 34.5 |
|  Allstate Corp. | 14619 | 1878103 | 84.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Ally Financial, Inc. | 20889 | $678684 | 30.4% |
|  Alnylam Pharmaceuticals, Inc. | 2238 | 506683 | 22.7 |
|  Alphabet, Inc., Class A | 20473 | 2023551 | 90.7 |
|  Alphabet, Inc., Class C | 30447 | 3040742 | 136.3 |
|  Amazon.com, Inc. | 7881 | 812768 | 36.4 |
|  Amedisys, Inc. | 5470 | 528730 | 23.7 |
|  American Express Co. | 2245 | 392718 | 17.6 |
|  American Financial Group, Inc. | 4461 | 636094 | 28.5 |
|  American Homes 4 Rent, Class A | 2964 | 101636 | 4.6 |
|  AMETEK, Inc. | 1234 | 178831 | 8.0 |
|  Analog Devices, Inc. | 5113 | 876726 | 39.3 |
|  ANSYS, Inc. | 3139 | 836104 | 37.5 |
|  Aon PLC, Class A | 1949 | 621107 | 27.8 |
|  APA Corp. | 16138 | 715398 | 32.1 |
|  Apple, Inc. | 11499 | 1659191 | 74.4 |
|  Applied Materials, Inc. | 11531 | 1285591 | 57.6 |
|  Armstrong World Industries, Inc. | 23512 | 1820064 | 81.6 |
|  Arrow Electronics, Inc. | 7966 | 935925 | 41.9 |
|  Arthur J Gallagher & Co. | 247 | 48343 | 2.2 |
|  ASGN, Inc. | 15809 | 1437829 | 64.4 |
|  Autodesk, Inc. | 8778 | 1888674 | 84.6 |
|  AutoNation, Inc. | 6716 | 851052 | 38.1 |
|  AutoZone, Inc. | 1334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3253426 | 145.8 |
|  Avery Dennison Corp. | 9240 | 1750426 | 78.4 |
|  Avis Budget Group, Inc. | 1274 | 254851 | 11.4 |
|  AZEK Co., Inc., Class A | 5508 | 132908 | 6.0 |
|  Baker Hughes Co., Class A | 17069 | 541770 | 24.3 |
|  Bank of America Corp. | 35369 | 1254892 | 56.2 |
|  Bank of New York Mellon Corp. | 18532 | 937163 | 42.0 |
|  Bausch Health Cos., Inc. | 16448 | 126214 | 5.7 |
|  Baxter International, Inc. | 22391 | 1023045 | 45.9 |
|  Beacon Roofing Supply, Inc. | 4130 | 234914 | 10.5 |
|  Becton Dickinson and Co. | 1864 | 470138 | 21.1 |
|  Berry Global Group, Inc. | 24421 | 1507508 | 67.6 |
|  BioMarin Pharmaceutical, Inc. | 3182 | 367044 | 16.5 |
|  Bio-Rad Laboratories, Inc., Class A | 1504 | 703060 | 31.5 |
|  Black Hills Corp. | 560 | 40533 | 1.8 |
|  Blueprint Medicines Corp. | 4843 | 226362 | 10.1 |
|  Boeing Co. | 140 | 29820 | 1.3 |
|  Booz Allen Hamilton Holding Corp., Class A | 2246 | 212561 | 9.5 |
|  BorgWarner, Inc. | 1953 | 92338 | 4.1 |
|  Boston Beer Co., Inc., Class A | 1321 | 513354 | 23.0 |
|  Boston Scientific Corp. | 25732 | 1190105 | 53.3 |
|  Box, Inc., Class A | 30590 | 978574 | 43.9 |
|  Boyd Gaming Corp. | 8962 | 558422 | 25.0 |
|  Bright Horizons Family Solutions, Inc. | 1129 | 86685 | 3.9 |
|  Brighthouse Financial, Inc. | 30121 | 1694909 | 76.0 |
|  Brixmor Property Group, Inc. | 7798 | 183487 | 8.2 |
|  Brown-Forman Corp., Class B | 2718 | 180964 | 8.1 |
|  Bruker Corp. | 4405 | 308879 | 13.8 |
|  Builders FirstSource, Inc. | 7359 | 586512 | 26.3 |
|  BWX Technologies, Inc. | 2071 | 126041 | 5.7 |
|  CACI International, Inc., Class A | 4694 | 1446174 | 64.8 |
|  Camden Property Trust | 568 | 69983 | 3.1 |
|  Capital One Financial Corp. | 19283 | 2294677 | 102.8 |
|  Capri Holdings Ltd. | 2926 | 194550 | 8.7 |
|  Carlisle Cos., Inc. | 6989 | 1753261 | 78.6 |
|  Carnival Corp. | 49660 | 537321 | 24.1 |
|  Carnival PLC | 54716 | 522769 | 23.4 |
|  Carter's, Inc. | 33170 | 2765383 | 123.9 |
|  Catalent, Inc. | 4745 | 254095 | 11.4 |

---

73.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  CBRE Group, Inc., Class A | 2081 | $177946 | 8.0% |
|  CH Robinson Worldwide, Inc. | 4521 | 452869 | 20.3 |
|  Charles River Laboratories International, Inc. | 5587 | 1359038 | 60.9 |
|  Chart Industries, Inc. | 8980 | 1203140 | 53.9 |
|  Chemed Corp. | 958 | 483924 | 21.7 |
|  Cheniere Energy, Inc. | 13061 | 1995590 | 89.4 |
|  Chevron Corp. | 3871 | 673631 | 30.2 |
|  Chewy, Inc., Class A | 3395 | 152979 | 6.9 |
|  Chipotle Mexican Grill, Inc., Class A | 21 | 34574 | 1.6 |
|  Cintas Corp. | 90 | 39937 | 1.8 |
|  Cirrus Logic, Inc. | 27299 | 2467557 | 110.6 |
|  Citigroup, Inc. | 31865 | 1663990 | 74.6 |
|  Clearway Energy, Inc., Class C | 35892 | 1212791 | 54.4 |
|  CMS Energy Corp. | 2418 | 152793 | 6.8 |
|  Coca-Cola Co. | 52317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3208078 | 143.8 |
|  Cognex Corp. | 1184 | 64812 | 2.9 |
|  Cognizant Technology Solutions Corp., Class A | 12017 | 802135 | 35.9 |
|  Colgate-Palmolive Co. | 46667 | 3478092 | 155.9 |
|  Columbia Sportswear Co. | 315 | 30208 | 1.4 |
|  Comerica, Inc. | 286 | 20967 | 0.9 |
|  Commercial Metals Co. | 13340 | 723962 | 32.4 |
|  Comstock Resources, Inc. | 13128 | 159505 | 7.1 |
|  Costco Wholesale Corp. | 1189 | 607745 | 27.2 |
|  Credit Acceptance Corp. | 2027 | 937771 | 42.0 |
|  Crimson Wine Group Ltd. | 1 | 6 | 0.0 |
|  Crocs, Inc. | 2365 | 287986 | 12.9 |
|  Crown Holdings, Inc. | 5968 | 526139 | 23.6 |
|  CSX Corp. | 9504 | 293864 | 13.2 |
|  Cummins, Inc. | 1285 | 320659 | 14.4 |
|  CVS Health Corp. | 8870 | 782511 | 35.1 |
|  Cytokinetics, Inc. | 2554 | 108494 | 4.9 |
|  Danaher Corp. | 14259 | 3769794 | 168.9 |
|  Darling Ingredients, Inc. | 1676 | 111102 | 5.0 |
|  DaVita, Inc. | 9141 | 753127 | 33.8 |
|  Deckers Outdoor Corp. | 6227 | 2661918 | 119.3 |
|  Dell Technologies, Inc., Class C | 832 | 33796 | 1.5 |
|  DENTSPLY SIRONA, Inc. | 10768 | 396585 | 17.8 |
|  Devon Energy Corp. | 306 | 19351 | 0.9 |
|  Dick's Sporting Goods, Inc. | 448 | 58580 | 2.6 |
|  DocuSign, Inc., Class A | 2170 | 131589 | 5.9 |
|  Dolby Laboratories, Inc., Class A | 14737 | 1172476 | 52.5 |
|  Dollar General Corp. | 798 | 186413 | 8.4 |
|  Dollar Tree, Inc. | 916 | 137565 | 6.2 |
|  Domino's Pizza, Inc. | 6671 | 2354863 | 105.5 |
|  Donaldson Co., Inc. | 1327 | 82738 | 3.7 |
|  DoubleVerify Holdings, Inc. | 682 | 18544 | 0.8 |
|  Dropbox, Inc., Class A | 4634 | 107648 | 4.8 |
|  DuPont de Nemours, Inc. | 15063 | 1113909 | 49.9 |
|  DXC Technology Co. | 15879 | 456204 | 20.4 |
|  Eagle Materials, Inc. | 1685 | 246145 | 11.0 |
|  Eastman Chemical Co. | 5749 | 506889 | 22.7 |
|  Eaton Corp. PLC | 1533 | 248668 | 11.1 |
|  eBay, Inc. | 40131 | 1986484 | 89.0 |
|  Ecolab, Inc. | 2016 | 312137 | 14.0 |
|  Edwards Lifesciences Corp. | 19991 | 1533310 | 68.7 |
|  Electronic Arts, Inc. | 7836 | 1008336 | 45.2 |
|  Eli Lilly & Co. | 6228 | 2143366 | 96.1 |
|  Emerson Electric Co. | 9879 | 891283 | 39.9 |
|  Enovis Corp. | 5987 | 376882 | 16.9 |
|  Envista Holdings Corp. | 49173 | 1917255 | 85.9 |
|  EOG Resources, Inc. | 16978 | 2245340 | 100.6 |
|  EPAM Systems, Inc. | 2741 | 911794 | 40.9 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Equinix, Inc. | 1170 | $863612 | 38.7% |
|  Equity Residential | 22626 | 1440145 | 64.5 |
|  Essex Property Trust, Inc. | 1445 | 326671 | 14.6 |
|  Etsy, Inc. | 1200 | 165096 | 7.4 |
|  Evergy, Inc. | 2142 | 134196 | 6.0 |
|  Exelixis, Inc. | 12687 | 223545 | 10.0 |
|  Expedia Group, Inc. | 1974 | 225628 | 10.1 |
|  F5, Inc. | 9484 | 1400407 | 62.8 |
|  FactSet Research Systems, Inc. | 3304 | 1397394 | 62.6 |
|  Fair Isaac Corp. | 329 | 219098 | 9.8 |
|  FedEx Corp. | 587 | 113796 | 5.1 |
|  First Solar, Inc. | 832 | 147763 | 6.6 |
|  Flex Ltd. | 36313 | 847909 | 38.0 |
|  Floor & Decor Holdings, Inc., Class A | 1105 | 100301 | 4.5 |
|  Flowserve Corp. | 12537 | 431524 | 19.3 |
|  Fluor Corp. | 11411 | 419354 | 18.8 |
|  Ford Motor Co. | 154078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2081594 | 93.3 |
|  Fortinet, Inc. | 11841 | 619758 | 27.8 |
|  Fox Corp., Class A | 112525 | 3819098 | 171.2 |
|  Fox Corp., Class B | 27184 | 861733 | 38.6 |
|  FTI Consulting, Inc. | 5542 | 884060 | 39.6 |
|  Garmin Ltd. | 14043 | 1388572 | 62.2 |
|  Gartner, Inc. | 1515 | 512282 | 23.0 |
|  General Dynamics Corp. | 7213 | 1681062 | 75.3 |
|  General Electric Co. | 1121 | 90218 | 4.0 |
|  General Motors Co. | 17926 | 704850 | 31.6 |
|  Gentex Corp. | 43427 | 1281531 | 57.4 |
|  Globus Medical, Inc., Class A | 11642 | 878971 | 39.4 |
|  Goodyear Tire & Rubber Co. | 3331 | 37474 | 1.7 |
|  Graco, Inc. | 27557 | 1882694 | 84.4 |
|  Grocery Outlet Holding Corp. | 39426 | 1198156 | 53.7 |
|  Guidewire Software, Inc. | 3931 | 287906 | 12.9 |
|  Halliburton Co. | 24307 | 1001935 | 44.9 |
|  Halozyme Therapeutics, Inc. | 2166 | 112134 | 5.0 |
|  Hanover Insurance Group, Inc. | 3252 | 437654 | 19.6 |
|  HB Fuller Co. | 3503 | 242057 | 10.8 |
|  HCA Healthcare, Inc. | 2494 | 636145 | 28.5 |
|  HEICO Corp. | 3735 | 638498 | 28.6 |
|  HEICO Corp., Class A | 10972 | 1466737 | 65.7 |
|  Helmerich & Payne, Inc. | 2764 | 133888 | 6.0 |
|  Henry Schein, Inc. | 32482 | 2798324 | 125.4 |
|  Hexcel Corp. | 5518 | 389460 | 17.5 |
|  Home Depot, Inc. | 4852 | 1572873 | 70.5 |
|  Hormel Foods Corp. | 11988 | 543176 | 24.3 |
|  HP, Inc. | 49430 | 1440390 | 64.6 |
|  HubSpot, Inc. | 800 | 277608 | 12.4 |
|  Huntsman Corp. | 11789 | 373593 | 16.7 |
|  ICU Medical, Inc. | 1371 | 264918 | 11.9 |
|  IDACORP, Inc. | 2842 | 300712 | 13.5 |
|  IDEXX Laboratories, Inc. | 166 | 79763 | 3.6 |
|  Illinois Tool Works, Inc. | 6065 | 1431583 | 64.2 |
|  Illumina, Inc. | 631 | 135160 | 6.1 |
|  Incyte Corp. | 6482 | 551877 | 24.7 |
|  Integra LifeSciences Holdings Corp. | 4205 | 240946 | 10.8 |
|  International Paper Co. | 47746 | 1996738 | 89.5 |
|  Intuit, Inc. | 699 | 295446 | 13.2 |
|  Invesco Ltd. | 80159 | 1483743 | 66.5 |
|  Ionis Pharmaceuticals, Inc. | 18084 | 721009 | 32.3 |
|  IQVIA Holdings, Inc. | 5423 | 1244090 | 55.8 |
|  Iron Mountain, Inc. | 14605 | 797141 | 35.7 |
|  Jacobs Solutions, Inc. | 12901 | 1593919 | 71.4 |
|  JB Hunt Transport Services, Inc. | 5148 | 973229 | 43.6 |

---

S C H E D U L E O F I N V E S T M E N T S 74

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Jefferies Financial Group, Inc. | 30446 | $1195919 | 53.6% |
|  Johnson & Johnson | 1490 | 243496 | 10.9 |
|  Johnson Controls International PLC | 217 | 15097 | 0.7 |
|  Jones Lang LaSalle, Inc. | 9872 | 1825037 | 81.8 |
|  Juniper Networks, Inc. | 1149 | 37113 | 1.7 |
|  KBR, Inc. | 5202 | 266498 | 11.9 |
|  Kellogg Co. | 29754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040529 | 91.4 |
|  KeyCorp | 37429 | 718263 | 32.2 |
|  Keysight Technologies, Inc. | 918 | 164643 | 7.4 |
|  Kilroy Realty Corp. | 14392 | 590648 | 26.5 |
|  Kimco Realty Corp. | 6354 | 142711 | 6.4 |
|  Kirby Corp. | 620 | 43884 | 2.0 |
|  Knight-Swift Transportation Holdings, Inc. | 6998 | 413582 | 18.5 |
|  Kroger Co. | 1332 | 59447 | 2.7 |
|  L3Harris Technologies, Inc. | 1529 | 328460 | 14.7 |
|  Laboratory Corp. of America Holdings | 1369 | 345152 | 15.5 |
|  Lam Research Corp. | 1458 | 729146 | 32.7 |
|  Lamar Advertising Co., Class A | 4880 | 519915 | 23.3 |
|  Landstar System, Inc. | 9214 | 1592456 | 71.4 |
|  Lear Corp. | 11528 | 1680552 | 75.3 |
|  Leidos Holdings, Inc. | 422 | 41710 | 1.9 |
|  Lennar Corp., Class A | 3775 | 386560 | 17.3 |
|  Lennox International, Inc. | 3745 | 976022 | 43.7 |
|  Liberty Broadband Corp. | 743 | 66707 | 3.0 |
|  Liberty Latin America Ltd., Class A | 2 | 20 | 0.0 |
|  Lincoln National Corp. | 40511 | 1435305 | 64.3 |
|  LKQ Corp. | 5525 | 325754 | 14.6 |
|  Louisiana-Pacific Corp. | 23417 | 1594464 | 71.5 |
|  Lowe's Cos., Inc. | 19784 | 4120018 | 184.6 |
|  LPL Financial Holdings, Inc. | 5383 | 1276417 | 57.2 |
|  Lumen Technologies, Inc. | 52081 | 273425 | 12.3 |
|  Lumentum Holdings, Inc. | 8940 | 538009 | 24.1 |
|  M&T Bank Corp. | 3982 | 621192 | 27.8 |
|  MACOM Technology Solutions Holdings, Inc. | 20334 | 1362785 | 61.1 |
|  Macy's, Inc. | 58093 | 1372738 | 61.5 |
|  Manhattan Associates, Inc. | 11009 | 1435133 | 64.3 |
|  ManpowerGroup, Inc. | 23201 | 2022199 | 90.6 |
|  Marathon Oil Corp. | 11341 | 311537 | 14.0 |
|  Marathon Petroleum Corp. | 14554 | 1870480 | 83.8 |
|  Marriott International, Inc., Class A | 9242 | 1609772 | 72.1 |
|  Marriott Vacations Worldwide Corp. | 1371 | 219415 | 9.8 |
|  Marsh & McLennan Cos., Inc. | 1083 | 189428 | 8.5 |
|  Martin Marietta Materials, Inc. | 3187 | 1146173 | 51.4 |
|  Masco Corp. | 6539 | 347875 | 15.6 |
|  Masimo Corp. | 592 | 100687 | 4.5 |
|  Mastercard, Inc., Class A | 2720 | 1008032 | 45.2 |
|  Matador Resources Co. | 10556 | 698385 | 31.3 |
|  MaxLinear, Inc. | 18782 | 773818 | 34.7 |
|  McCormick & Co., Inc. | 17130 | 1286806 | 57.7 |
|  Medical Properties Trust, Inc. | 39188 | 507485 | 22.7 |
|  Meritage Homes Corp. | 492 | 52983 | 2.4 |
|  Meta Platforms, Inc., Class A | 20052 | 2987146 | 133.9 |
|  Mettler-Toledo International, Inc. | 710 | 1088373 | 48.8 |
|  MGIC Investment Corp. | 68987 | 974096 | 43.7 |
|  MGM Resorts International | 41866 | 1733671 | 77.7 |
|  Microsoft Corp. | 9239 | 2289517 | 102.6 |
|  Mohawk Industries, Inc. | 19142 | 2298189 | 103.0 |
|  Molson Coors Beverage Co., Class B | 24182 | 1271490 | 57.0 |
|  Moody's Corp. | 5762 | 1859685 | 83.3 |
|  MP Materials Corp. | 6423 | 208812 | 9.4 |
|  NetApp, Inc. | 1348 | 89278 | 4.0 |
|  Neurocrine Biosciences, Inc. | 5121 | 568073 | 25.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  New York Community Bancorp, Inc. | 139610 | $1394704 | 62.5% |
|  Newmont Corp. | 12280 | 649980 | 29.1 |
|  Nordson Corp. | 3075 | 748147 | 33.5 |
|  Northern Trust Corp. | 6814 | 660754 | 29.6 |
|  Northrop Grumman Corp. | 1198 | 536752 | 24.1 |
|  NRG Energy, Inc. | 26225 | 897419 | 40.2 |
|  NVIDIA Corp. | 4146 | 810004 | 36.3 |
|  NVR, Inc. | 66 | 347820 | 15.6 |
|  Occidental Petroleum Corp. | 7359 | 476790 | 21.4 |
|  Ollie's Bargain Outlet Holdings, Inc. | 6981 | 382280 | 17.1 |
|  OneMain Holdings, Inc. | 986 | 42536 | 1.9 |
|  Oshkosh Corp. | 449 | 45250 | 2 |
|  Otis Worldwide Corp. | 611 | 50243 | 2.3 |
|  Outfront Media, Inc. | 22194 | 441661 | 19.8 |
|  Ovintiv, Inc. | 8047 | 396154 | 17.8 |
|  Ovintiv, Inc. | 2615 | 128554 | 5.8 |
|  PacWest Bancorp | 84634 | 2340976 | 104.9 |
|  Papa John's International, Inc. | 14540 | 1304093 | 58.4 |
|  Paramount Global, Class B | 7648 | 177128 | 7.9 |
|  Park Hotels & Resorts, Inc. | 179356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2638327 | 118.2 |
|  Patterson-UTI Energy, Inc. | 36303 | 609890 | 27.3 |
|  PBF Energy, Inc., Class A | 16807 | 705726 | 31.6 |
|  PDC Energy, Inc. | 3498 | 236920 | 10.6 |
|  Penske Automotive Group, Inc. | 7804 | 997507 | 44.7 |
|  Perrigo Co. PLC | 5794 | 216811 | 9.7 |
|  Petco Health & Wellness Co., Inc., Class A | 16037 | 187473 | 8.4 |
|  Pinnacle Financial Partners, Inc. | 3793 | 298623 | 13.4 |
|  Pinterest, Inc., Class A | 5761 | 151457 | 6.8 |
|  Polaris, Inc. | 706 | 81077 | 3.6 |
|  Portland General Electric Co. | 7448 | 354376 | 15.9 |
|  Post Holdings, Inc. | 2164 | 205472 | 9.2 |
|  PPG Industries, Inc. | 10872 | 1417056 | 63.5 |
|  Primo Water Corp. | 40963 | 640360 | 28.7 |
|  Prudential Financial, Inc. | 345 | 36204 | 1.6 |
|  PTC Therapeutics, Inc. | 4315 | 198015 | 8.9 |
|  Public Service Enterprise Group, Inc. | 10655 | 659864 | 29.6 |
|  PulteGroup, Inc. | 21589 | 1228198 | 55 |
|  PVH Corp. | 4252 | 382255 | 17.1 |
|  Qorvo, Inc. | 8152 | 885796 | 39.7 |
|  Qualys, Inc. | 243 | 28032 | 1.3 |
|  Ralph Lauren Corp., Class A | 13672 | 1693277 | 75.9 |
|  Range Resources Corp. | 848 | 21217 | 1 |
|  Red Rock Resorts, Inc., Class A | 6235 | 280637 | 12.6 |
|  Reinsurance Group of America, Inc. | 3688 | 559728 | 25.1 |
|  Reliance Steel & Aluminum Co. | 10657 | 2423935 | 108.6 |
|  Repligen Corp. | 1978 | 366523 | 16.4 |
|  Republic Services, Inc., Class A | 8681 | 1083562 | 48.6 |
|  ResMed, Inc. | 2679 | 611803 | 27.4 |
|  RingCentral, Inc., Class A | 1662 | 64868 | 2.9 |
|  Robert Half International, Inc. | 6968 | 585033 | 26.2 |
|  ROBLOX Corp., Class A | 7590 | 282424 | 12.7 |
|  Royal Caribbean Cruises Ltd. | 2942 | 191053 | 8.6 |
|  RPM International, Inc. | 3923 | 352717 | 15.8 |
|  S&P Global, Inc. | 1701 | 637773 | 28.6 |
|  Saia, Inc. | 639 | 174306 | 7.8 |
|  Salesforce, Inc. | 2894 | 486105 | 21.8 |
|  Sarepta Therapeutics, Inc. | 310 | 38741 | 1.7 |
|  SBA Communications Corp., Class A | 1185 | 352573 | 15.8 |
|  Schlumberger Ltd. | 8408 | 479088 | 21.5 |
|  Scotts Miracle-Gro Co. | 3137 | 226460 | 10.2 |
|  Seagen, Inc. | 4435 | 618594 | 27.7 |
|  SEI Investments Co. | 5093 | 317956 | 14.3 |

---

75.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  ServiceNow, Inc. | 626 | $284911 | 12.8% |
|  Sherwin-Williams Co. | 7958 | 1882783 | 84.4 |
|  Silicon Laboratories, Inc. | 13031 | 2044694 | 91.6 |
|  Sims Ltd. | 9142 | 99263 | 4.5 |
|  Sirius XM Holdings, Inc. | 139519 | 807815 | 36.2 |
|  SiteOne Landscape Supply, Inc. | 7861 | 1191020 | 53.4 |
|  SM Energy Co. | 679 | 22319 | 1 |
|  Snap, Inc., Class A | 50326 | 581769 | 26.1 |
|  Southwest Airlines Co. | 66141 | 2365864 | 106 |
|  Stifel Financial Corp. | 26543 | 1789264 | 80.2 |
|  Stryker Corp. | 2734 | 693917 | 31.1 |
|  SVB Financial Group | 7652 | 2314271 | 103.7 |
|  Syneos Health, Inc. | 77860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2796731 | 125.3 |
|  Synopsys, Inc. | 1238 | 437942 | 19.6 |
|  Synovus Financial Corp. | 11504 | 482593 | 21.6 |
|  T Rowe Price Group, Inc. | 833 | 97020 | 4.3 |
|  Take-Two Interactive Software, Inc. | 6075 | 687872 | 30.8 |
|  Tapestry, Inc. | 10533 | 479989 | 21.5 |
|  Target Corp. | 65 | 11189 | 0.5 |
|  TD SYNNEX Corp. | 17515 | 1789157 | 80.2 |
|  Teleflex, Inc. | 6593 | 1604868 | 71.9 |
|  Tempur Sealy International, Inc. | 6962 | 283701 | 12.7 |
|  Tenet Healthcare Corp. | 11609 | 636754 | 28.5 |
|  Teradata Corp. | 27872 | 972175 | 43.6 |
|  Teradyne, Inc. | 39640 | 4031388 | 180.7 |
|  Tetra Tech, Inc. | 4344 | 675579 | 30.3 |
|  Texas Instruments, Inc. | 7193 | 1274672 | 57.1 |
|  Textron, Inc. | 2241 | 163257 | 7.3 |
|  Thermo Fisher Scientific, Inc. | 668 | 380980 | 17.1 |
|  Timken Co. | 1748 | 143948 | 6.5 |
|  Toll Brothers, Inc. | 29333 | 1745020 | 78.2 |
|  TopBuild Corp. | 1950 | 390117 | 17.5 |
|  Toro Co. | 3168 | 353295 | 15.8 |
|  Tractor Supply Co. | 2867 | 653647 | 29.3 |
|  Travel & Leisure Co. | 45082 | 1910124 | 85.6 |
|  Trex Co., Inc. | 25300 | 1333816 | 59.8 |
|  Trimble, Inc. | 22785 | 1322897 | 59.3 |
|  Tyler Technologies, Inc. | 982 | 316960 | 14.2 |
|  U.S. Bancorp | 16672 | 830266 | 37.2 |
|  U.S. Steel Corp. | 3846 | 109573 | 4.9 |
|  UGI Corp. | 24479 | 974999 | 43.7 |
|  Umpqua Holdings Corp. | 27922 | 508180 | 22.8 |
|  Union Pacific Corp. | 2525 | 515580 | 23.1 |
|  United Parcel Service, Inc., Class B | 9204 | 1704857 | 76.4 |
|  United Therapeutics Corp. | 2424 | 637924 | 28.6 |
|  Universal Display Corp. | 5915 | 783915 | 35.1 |
|  Vail Resorts, Inc. | 3289 | 862836 | 38.7 |
|  Veeva Systems, Inc., Class A | 12286 | 2095377 | 93.9 |
|  VeriSign, Inc. | 6570 | 1432588 | 64.2 |
|  Verisk Analytics, Inc., Class A | 14453 | 2627411 | 117.8 |
|  Verizon Communications, Inc. | 9582 | 398324 | 17.9 |
|  Vertex Pharmaceuticals, Inc. | 1218 | 393536 | 17.6 |
|  VF Corp. | 33923 | 1049578 | 47 |
|  Virtu Financial, Inc., Class A | 2306 | 44529 | 2 |
|  Visa, Inc., Class A | 1494 | 343934 | 15.4 |
|  Visteon Corp. | 1156 | 180729 | 8.1 |
|  Vistra Corp. | 98616 | 2274085 | 101.9 |
|  Vitesse Energy, Inc. | 4270 | 68149 | 3.1 |
|  Walgreens Boots Alliance, Inc. | 17643 | 650321 | 29.1 |
|  Walmart, Inc. | 1074 | 154516 | 6.9 |
|  Warner Bros Discovery, Inc. | 13104 | 194201 | 8.7 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Waste Management, Inc. | 3932 | $608398 | 27.3% |
|  Waters Corp. | 2803 | 921010 | 41.3 |
|  Watsco, Inc. | 2284 | 656353 | 29.4 |
|  Wells Fargo & Co. | 43175 | 2023612 | 90.7 |
|  West Pharmaceutical Services, Inc. | 1401 | 372106 | 16.7 |
|  Western Digital Corp. | 14371 | 631605 | 28.3 |
|  Westlake Corp. | 146 | 17922 | 0.8 |
|  Westrock Co. | 19070 | 748307 | 33.5 |
|  Weyerhaeuser Co. | 24554 | 845394 | 37.9 |
|  Whirlpool Corp. | 8742 | 1360168 | 61.0 |
|  Williams Cos., Inc. | 10216 | 329364 | 14.8 |
|  Williams-Sonoma, Inc. | 1578 | 212935 | 9.5 |
|  World Wrestling Entertainment, Inc., Class A | 4476 | 378759 | 17.0 |
|  Wynn Resorts Ltd. | 720 | 74621 | 3.3 |
|  Xylem, Inc. | 8788 | 914040 | 41.0 |
|  YETI Holdings, Inc. | 893 | 39971 | 1.8 |
|  Yum! Brands, Inc. | 14834 | 1935985 | 86.8 |
|  Zillow Group, Inc., Class C | 1263 | 55837 | 2.5 |
|  Zoetis, Inc. | 7317 | 1210890 | 54.3 |
|  Zurn Elkay Water Solutions Corp. | 8410 | 183843 | 8.2 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;331140313 |  |
| **Preferred Stocks** |  |  |  |
| **Germany** |  |  |  |
|  Bayerische Motoren Werke AG | 3194 | 302596 | 13.5 |
|  Fuchs Petrolub SE | 3728 | 148726 | 6.7 |
|  Porsche Automobil Holding SE | 5555 | 332171 | 14.9 |
|  |  | 783493 |  |
| **United States** |  |  |  |
|  AMC Entertainment Holdings, Inc. | 48841 | 118195 | 5.3 |
| **Rights** |  |  |  |
| **Spain** |  |  |  |
|  ACS Actividades de Construccion y Servicios SA,<br>(Expires 02/17/23) | 10017 | 5082 | 0.2 |
| **Warrants** |  |  |  |
| **Australia** |  |  |  |
|  Magellan Financial Group Ltd.,<br>(Issued/Exercisable 04/14/22, 1 Share for 1 Warrant, Expires 04/16/27, Strike Price<br>AUD 35.00) | 1580 | 296 | 0.0 |
|  **Total Reference Entity — Long** |  | 595307931 |  |
|  **Reference Entity — Short** |  |  |  |
| **Common Stocks** |  |  |  |
| **Australia** |  |  |  |
|  ALS Ltd. | (132164) | (1226213) | (55.0) |
|  Ampol Ltd. | (21499) | (466225) | (20.9) |
|  APA Group | (221356) | (1656608) | (74.2) |
|  Atlas Arteria Ltd. | (737129) | (3584972) | (160.7) |
|  Beach Energy Ltd. | (512370) | (550586) | (24.7) |
|  BlueScope Steel Ltd. | (268612) | (3662922) | (164.2) |
|  Champion Iron Ltd. | (28904) | (147077) | (6.6) |
|  Cleanaway Waste Management Ltd. | (827301) | (1603022) | (71.8) |
|  Cochlear Ltd. | (1654) | (249881) | (11.2) |
|  Core Lithium Ltd. | (276379) | (230477) | (10.3) |
|  CSL Ltd. | (4152) | (876697) | (39.3) |
|  Evolution Mining Ltd. | (221303) | (502890) | (22.5) |
|  Glencore PLC | (51266) | (343322) | (15.4) |
|  Goodman Group | (113000) | (1611784) | (72.2) |

---

S C H E D U L E O F I N V E S T M E N T S 76

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Australia (continued)** |  |  |  |
|  IGO Ltd. | (117917) | $(1225779) | (54.9)% |
|  Incitec Pivot Ltd. | (469872) | (1148936) | (51.5) |
|  Lendlease Corp. Ltd. | (3998) | (24413) | (1.1) |
|  Liontown Resources Ltd. | (47830) | (53843) | (2.4) |
|  Lottery Corp. Ltd. | (796465) | (2656333) | (119.0) |
|  Newcrest Mining Ltd. | (2318) | (36794) | (1.7) |
|  Newcrest Mining Ltd. | (119837) | (1904101) | (85.3) |
|  NEXTDC Ltd. | (57399) | (405643) | (18.2) |
|  Northern Star Resources Ltd. | (196255) | (1748734) | (78.4) |
|  Nufarm Ltd. | (144608) | (608485) | (27.3) |
|  Orica Ltd. | (15712) | (164875) | (7.4) |
|  Ramsay Health Care Ltd. | (4179) | (197473) | (8.9) |
|  Reece Ltd. | (37868) | (435251) | (19.5) |
|  Santos Ltd. | (1067127) | (5447546) | (244.1) |
|  Scentre Group | (534269) | (1159260) | (52.0) |
|  Seven Group Holdings Ltd. | (172212) | (2771705) | (124.2) |
|  South32 Ltd. | (1039167) | (3334613) | (149.4) |
|  Telstra Corp. Ltd. | (47943) | (138564) | (6.2) |
|  Transurban Group | (250915) | (2460005) | (110.2) |
|  Wesfarmers Ltd. | (3093) | (109049) | (4.9) |
|  Woodside Energy Group Ltd. | (1) | (26) | (0.0) |
|  Woolworths Group Ltd. | (32869) | (840048) | (37.6) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43584152) |  |
| **Austria** |  |  |  |
|  OMV AG | (13188) | (660590) | (29.6) |
|  Voestalpine AG | (1997) | (66354) | (3.0) |
|  |  | (726944) |  |
| **Belgium** |  |  |  |
|  Elia Group SA | (1277) | (179314) | (8.0) |
|  Galapagos NV | (1942) | (85950) | (3.9) |
|  UCB SA | (4243) | (348370) | (15.6) |
|  |  | (613634) |  |
| **Bermuda** |  |  |  |
|  RenaissanceRe Holdings Ltd. | (1041) | (203713) | (9.1) |
|  Triton International Ltd. | (8484) | (599310) | (26.9) |
|  |  | (803023) |  |
| **Brazil** |  |  |  |
|  MercadoLibre, Inc. | (660) | (779915) | (34.9) |
| **Canada** |  |  |  |
|  Agnico Eagle Mines Ltd. | (10138) | (572522) | (25.6) |
|  Air Canada | (16611) | (281896) | (12.6) |
|  Alimentation Couche-Tard, Inc. | (1364) | (62288) | (2.8) |
|  Atco Ltd., Class I | (10731) | (341476) | (15.3) |
|  Barrick Gold Corp. | (20324) | (397453) | (17.8) |
|  BlackBerry Ltd. | (26990) | (115218) | (5.2) |
|  Boyd Group Services, Inc. | (5621) | (859615) | (38.5) |
|  BRP, Inc. | (7748) | (646545) | (29.0) |
|  CAE, Inc. | (45101) | (1018590) | (45.6) |
|  Cameco Corp. | (22128) | (619162) | (27.7) |
|  Canadian Apartment Properties REIT | (49168) | (1818094) | (81.5) |
|  Canadian Natural Resources Ltd. | (2639) | (161983) | (7.3) |
|  Canadian Pacific Railway Ltd. | (9575) | (755753) | (33.9) |
|  Canadian Solar, Inc. | (23584) | (992179) | (44.5) |
|  Canadian Tire Corp. Ltd., Class A | (9894) | (1176379) | (52.7) |
|  Canadian Utilities Ltd., Class A | (14753) | (410030) | (18.4) |
|  CCL Industries, Inc., Class B | (8572) | (400914) | (18.0) |
|  CI Financial Corp. | (52152) | (622038) | (27.9) |
|  Colliers International Group, Inc. | (2381) | (255413) | (11.4) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Canada (continued)** |  |  |  |
|  Constellation Software, Inc. | (150) | $(265015) | (11.9)% |
|  Descartes Systems Group, Inc. | (548) | (39992) | (1.8) |
|  Dollarama, Inc. | (22972) | (1373779) | (61.6) |
|  Dream Industrial Real Estate Investment Trust | (56922) | (598931) | (26.8) |
|  Fairfax Financial Holdings Ltd. | (149) | (98643) | (4.4) |
|  Finning International, Inc. | (82471) | (2326828) | (104.3) |
|  Fortis, Inc. | (7419) | (304834) | (13.7) |
|  George Weston Ltd. | (4114) | (529250) | (23.7) |
|  Hydro One Ltd. | (3251) | (88889) | (4.0) |
|  iA Financial Corp., Inc. | (985) | (60800) | (2.7) |
|  IGM Financial, Inc. | (6289) | (196296) | (8.8) |
|  Intact Financial Corp. | (3795) | (550561) | (24.7) |
|  Lightspeed Commerce, Inc. | (81377) | (1472131) | (66.0) |
|  Loblaw Cos. Ltd. | (16641) | (1490817) | (66.8) |
|  Magna International, Inc. | (6443) | (418283) | (18.7) |
|  Metro, Inc. | (2748) | (149157) | (6.7) |
|  NexGen Energy Ltd. | (21469) | (103589) | (4.6) |
|  Nutrien Ltd. | (17477) | (1446708) | (64.8) |
|  Onex Corp. | (5609) | (289903) | (13.0) |
|  Open Text Corp. | (54676) | (1833971) | (82.2) |
|  Osisko Gold Royalties Ltd. | (14544) | (194678) | (8.7) |
|  Paramount Resources Ltd., Class A | (1871) | (43254) | (1.9) |
|  Parkland Corp. | (42893) | (1007730) | (45.2) |
|  Pembina Pipeline Corp. | (902) | (32004) | (1.4) |
|  Quebecor, Inc., Class B | (41357) | (980968) | (44.0) |
|  Restaurant Brands International, Inc. | (14701) | (983676) | (44.1) |
|  Rogers Communications, Inc., Class B | (74004) | (3598000) | (161.2) |
|  Saputo, Inc. | (20930) | (576989) | (25.9) |
|  Shaw Communications, Inc., Class B | (131533) | (3914702) | (175.4) |
|  Shopify, Inc., Class A | (3644) | (179578) | (8.0) |
|  SNC-Lavalin Group, Inc. | (16213) | (347887) | (15.6) |
|  SSR Mining, Inc. | (21817) | (368604) | (16.5) |
|  Sun Life Financial, Inc. | (27914) | (1402676) | (62.9) |
|  Thomson Reuters Corp. | (11399) | (1356006) | (60.8) |
|  Toromont Industries Ltd. | (8149) | (650977) | (29.2) |
|  Tricon Residential, Inc. | (46730) | (405645) | (18.2) |
|  WSP Global, Inc. | (5777) | (736719) | (33.0) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41926018) |  |
| **Denmark** |  |  |  |
|  Ambu A/S, Class B | (32955) | (455217) | (20.4) |
| **Finland** |  |  |  |
|  Elisa OYJ | (4600) | (262076) | (11.7) |
|  Fortum OYJ | (38861) | (584168) | (26.2) |
|  Kesko OYJ, B Shares | (9666) | (225155) | (10.1) |
|  Kojamo OYJ | (14954) | (229613) | (10.3) |
|  Stora Enso OYJ, R Shares | (13639) | (194975) | (8.7) |
|  UPM-Kymmene OYJ | (3497) | (126753) | (5.7) |
|  |  | (1622740) |  |
| **France** |  |  |  |
|  Air France-KLM | (208039) | (351690) | (15.8) |
|  Airbus SE | (1662) | (208358) | (9.3) |
|  Amundi SA | (8323) | (544907) | (24.4) |
|  BioMerieux | (8474) | (863889) | (38.7) |
|  BNP Paribas SA | (15388) | (1056877) | (47.4) |
|  Capgemini SE | (10425) | (1978515) | (88.7) |
|  Cie de L'Odet SE | (132) | (204991) | (9.2) |
|  Constellium SE, Class A | (5625) | (81731) | (3.7) |
|  Credit Agricole SA | (36377) | (438024) | (19.6) |
|  Eiffage SA | (11106) | (1186238) | (53.2) |
|  Elis SA | (7997) | (140454) | (6.3) |

---

77.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **France (continued)** |  |  |  |
|  Eramet SA | (1628) | $(162707) | (7.3)% |
|  EssilorLuxottica SA | (3020) | (554108) | (24.8) |
|  Eurazeo SE | (2816) | (197534) | (8.8) |
|  Getlink SE | (9364) | (158381) | (7.1) |
|  Ipsen SA | (6901) | (724847) | (32.5) |
|  La Francaise des Jeux SAEM | (6303) | (269693) | (12.1) |
|  L'Oreal SA | (5607) | (2315195) | (103.8) |
|  Orange SA | (225078) | (2381944) | (106.7) |
|  Safran SA | (1853) | (266453) | (11.9) |
|  Sanofi | (2455) | (240405) | (10.8) |
|  Sartorius Stedim Biotech | (695) | (242436) | (10.9) |
|  Sodexo SA | (2569) | (254672) | (11.4) |
|  Somfy SA | (7311) | (1136431) | (50.9) |
|  Technip Energies NV | (830) | (16091) | (0.7) |
|  Thales SA | (2103) | (278141) | (12.5) |
|  TotalEnergies SE | (27041) | (1671695) | (74.9) |
|  Unibail-Rodamco-Westfield | (9575) | (619649) | (27.8) |
|  Vallourec SA | (25722) | (375463) | (16.8) |
|  Worldline SA | (1449) | (65735) | (2.9) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18987254) |  |
| **Germany** |  |  |  |
|  Aurubis AG | (2996) | (316847) | (14.2) |
|  Bayer AG, Registered Shares | (12946) | (805823) | (36.1) |
|  Bechtle AG | (6020) | (253687) | (11.4) |
|  Brenntag SE | (5466) | (408026) | (18.3) |
|  Continental AG | (5220) | (366523) | (16.4) |
|  CTS Eventim AG & Co. KGaA | (4851) | (340524) | (15.3) |
|  Delivery Hero SE | (8305) | (502094) | (22.5) |
|  Deutsche Bank AG, Registered Shares | (24570) | (327904) | (14.7) |
|  Deutsche Boerse AG | (4246) | (759789) | (34.1) |
|  Deutsche Post AG, Registered Shares | (646) | (27815) | (1.3) |
|  Deutsche Wohnen SE | (2401) | (56710) | (2.5) |
|  Evotec SE | (6985) | (137347) | (6.2) |
|  Fresenius Medical Care AG & Co. KGaA | (16356) | (614244) | (27.5) |
|  Fresenius SE & Co. KGaA | (36273) | (1051223) | (47.1) |
|  Hella GmbH & Co. KGaA | (675) | (56818) | (2.5) |
|  HelloFresh SE | (2342) | (56937) | (2.6) |
|  HOCHTIEF AG | (4075) | (258349) | (11.6) |
|  HUGO BOSS AG | (11228) | (762495) | (34.2) |
|  Infineon Technologies AG | (1044) | (37595) | (1.7) |
|  MTU Aero Engines AG | (57) | (14245) | (0.6) |
|  Muenchener Rueckversicherungs-Gesellschaft<br>AG in Muenchen, Registered Shares | (1176) | (424780) | (19.0) |
|  Nordex SE | (2521) | (38311) | (1.7) |
|  Rational AG | (144) | (94721) | (4.2) |
|  Siemens Healthineers AG | (4882) | (261815) | (11.7) |
|  Sixt SE | (8222) | (1022249) | (45.8) |
|  Symrise AG, Class A | (4279) | (454899) | (20.4) |
|  Telefonica Deutschland Holding AG | (72806) | (214441) | (9.6) |
|  Vantage Towers AG | (31020) | (1134225) | (50.8) |
|  Vonovia SE | (21142) | (597217) | (26.8) |
|  |  | (11397653) |  |
| **Hong Kong** |  |  |  |
|  BOC Hong Kong Holdings Ltd. | (125500) | (438608) | (19.7) |
|  CK Asset Holdings Ltd. | (36500) | (233363) | (10.5) |
|  CK Hutchison Holdings Ltd. | (197500) | (1256880) | (56.3) |
|  CK Infrastructure Holdings Ltd. | (73000) | (406139) | (18.2) |
|  CLP Holdings Ltd. | (214500) | (1593720) | (71.4) |
|  Guotai Junan International Holdings Ltd. | (259000) | (25841) | (1.2) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Hong Kong (continued)** |  |  |  |
|  Hang Seng Bank Ltd. | (18800) | $(313081) | (14.0)% |
|  Henderson Land Development Co. Ltd. | (130000) | (480219) | (21.5) |
|  HKT Trust & HKT Ltd., Class SS | (2503000) | (3279370) | (147.0) |
|  Hong Kong & China Gas Co. Ltd. | (460000) | (461849) | (20.7) |
|  Kerry Logistics Network Ltd. | (80500) | (157198) | (7.1) |
|  Man Wah Holdings Ltd. | (371200) | (429160) | (19.2) |
|  NWS Holdings Ltd. | (166000) | (156441) | (7.0) |
|  PCCW Ltd. | (5795000) | (2847449) | (127.6) |
|  Power Assets Holdings Ltd. | (155500) | (879845) | (39.4) |
|  Sino Land Co. Ltd. | (686373) | (891926) | (40.0) |
|  VTech Holdings Ltd. | (48600) | (321285) | (14.4) |
|  Wharf Real Estate Investment Co. Ltd. | (3000) | (17174) | (0.8) |
|  Xinyi Glass Holdings Ltd. | (1366000) | (2908387) | (130.3) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17097935) |  |
| **Ireland** |  |  |  |
|  AerCap Holdings NV | (39294) | (2483774) | (111.3) |
|  DCC PLC | (17571) | (1000807) | (44.9) |
|  ICON PLC, ADR | (62) | (14304) | (0.6) |
|  Jazz Pharmaceuticals PLC | (1566) | (245329) | (11.0) |
|  Smurfit Kappa Group PLC | (722) | (30313) | (1.4) |
|  |  | (3774527) |  |
| **Israel** |  |  |  |
|  Azrieli Group Ltd. | (16475) | (1061198) | (47.6) |
|  Bank Hapoalim BM | (14402) | (129626) | (5.8) |
|  Bank Leumi Le-Israel BM | (463165) | (4093166) | (183.4) |
|  Fox Wizel Ltd. | (1289) | (116582) | (5.2) |
|  Global-e Online Ltd. | (9308) | (278961) | (12.5) |
|  ICL Group Ltd. | (9654) | (76649) | (3.4) |
|  Israel Corp. Ltd. | (85) | (31299) | (1.4) |
|  Maytronics Ltd. | (13307) | (162208) | (7.3) |
|  Mizrahi Tefahot Bank Ltd. | (5362) | (177110) | (7.9) |
|  Shapir Engineering and Industry Ltd. | (3233) | (24526) | (1.1) |
|  Shufersal Ltd. | (145809) | (818176) | (36.7) |
|  SolarEdge Technologies, Inc. | (522) | (166586) | (7.5) |
|  Strauss Group Ltd. | (41040) | (1050088) | (47.1) |
|  Teva Pharmaceutical Industries Ltd. | (61055) | (641751) | (28.8) |
|  Teva Pharmaceutical Industries Ltd., ADR | (1383) | (14577) | (0.6) |
|  |  | (8842503) |  |
| **Italy** |  |  |  |
|  Assicurazioni Generali SpA | (39081) | (762912) | (34.2) |
|  DiaSorin SpA | (3377) | (439617) | (19.7) |
|  Eni SpA | (1697) | (26114) | (1.2) |
|  Interpump Group SpA | (5430) | (283174) | (12.7) |
|  Leonardo SpA | (15996) | (164729) | (7.4) |
|  Nexi SpA | (12936) | (113932) | (5.1) |
|  Poste Italiane SpA | (26023) | (278030) | (12.4) |
|  |  | (2068508) |  |
| **Japan** |  |  |  |
|  Activia Properties, Inc. | (20) | (59893) | (2.7) |
|  Advance Residence Investment Corp. | (64) | (156337) | (7.0) |
|  Advantest Corp. | (4000) | (286724) | (12.8) |
|  Alps Alpine Co. Ltd. | (29900) | (306355) | (13.7) |
|  Asics Corp. | (10600) | (252286) | (11.3) |
|  Bandai Namco Holdings, Inc. | (5100) | (341056) | (15.3) |
|  Bank of Kyoto Ltd. | (15500) | (721186) | (32.3) |
|  Benefit One, Inc. | (19900) | (328450) | (14.7) |
|  BIPROGY, Inc. | (7200) | (188112) | (8.4) |
|  Calbee, Inc. | (1500) | (33876) | (1.5) |

---

S C H E D U L E O F I N V E S T M E N T S 78

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Capcom Co. Ltd. | (1700) | $(55086) | (2.5)% |
|  Central Japan Railway Co. | (2900) | (353727) | (15.9) |
|  Chiba Bank Ltd. | (25500) | (192943) | (8.6) |
|  Chugai Pharmaceutical Co. Ltd. | (1800) | (46665) | (2.1) |
|  Chugin Financial Group, Inc. | (8100) | (58941) | (2.6) |
|  Cosmo Energy Holdings Co. Ltd. | (500) | (14022) | (0.6) |
|  Credit Saison Co. Ltd. | (12100) | (158528) | (7.1) |
|  Daido Steel Co. Ltd. | (6900) | (260890) | (11.7) |
|  Daifuku Co. Ltd. | (300) | (16519) | (0.7) |
|  Daito Trust Construction Co. Ltd. | (700) | (69173) | (3.1) |
|  Daiwa House REIT Investment Corp. | (183) | (398159) | (17.8) |
|  Daiwa Office Investment Corp. | (13) | (61217) | (2.7) |
|  Daiwa Securities Living Investments Corp. | (301) | (251849) | (11.3) |
|  Descente Ltd. | (10000) | (277014) | (12.4) |
|  Disco Corp. | (1400) | (420606) | (18.8) |
|  Electric Power Development Co. Ltd. | (44400) | (716551) | (32.1) |
|  ENEOS Holdings, Inc. | (34800) | (123838) | (5.5) |
|  Fancl Corp. | (1100) | (22338) | (1.0) |
|  FANUC Corp. | (300) | (53007) | (2.4) |
|  FP Corp. | (13100) | (355988) | (16.0) |
|  Fuji Electric Co. Ltd. | (3500) | (141673) | (6.3) |
|  Fuji Kyuko Co. Ltd. | (2800) | (98366) | (4.4) |
|  Fujitsu General Ltd. | (29100) | (822539) | (36.9) |
|  Furukawa Electric Co. Ltd. | (10100) | (196025) | (8.8) |
|  Fuyo General Lease Co. Ltd. | (3500) | (240547) | (10.8) |
|  GLP J-Reit | (75) | (84867) | (3.8) |
|  Goldwin, Inc. | (8200) | (624694) | (28.0) |
|  GS Yuasa Corp. | (13400) | (234487) | (10.5) |
|  Hakuhodo DY Holdings, Inc. | (15700) | (169675) | (7.6) |
|  Harmonic Drive Systems, Inc. | (2600) | (87570) | (3.9) |
|  Haseko Corp. | (1600) | (18511) | (0.8) |
|  Heiwa Corp. | (14900) | (270346) | (12.1) |
|  Hikari Tsushin, Inc. | (1900) | (271203) | (12.2) |
|  Hirogin Holdings, Inc. | (27800) | (144962) | (6.5) |
|  Hisamitsu Pharmaceutical Co., Inc. | (700) | (21798) | (1.0) |
|  Hitachi Construction Machinery Co. Ltd. | (3700) | (87258) | (3.9) |
|  Honda Motor Co. Ltd. | (1800) | (44526) | (2.0) |
|  Hoshizaki Corp. | (16400) | (589519) | (26.4) |
|  Hoya Corp. | (100) | (10997) | (0.5) |
|  Ibiden Co. Ltd. | (13100) | (511278) | (22.9) |
|  Idemitsu Kosan Co. Ltd. | (16000) | (400012) | (17.9) |
|  Iida Group Holdings Co. Ltd. | (29400) | (490111) | (22.0) |
|  Industrial & Infrastructure Fund Investment Corp. | (192) | (212782) | (9.5) |
|  Inpex Corp. | (103200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1134028) | (50.8) |
|  Ito En Ltd. | (1300) | (46384) | (2.1) |
|  ITOCHU Corp. | (16600) | (536542) | (24.0) |
|  Itoham Yonekyu Holdings, Inc. | (11700) | (64238) | (2.9) |
|  Iwatani Corp. | (18900) | (814612) | (36.5) |
|  Iyogin Holdings, Inc. | (34900) | (196968) | (8.8) |
|  Izumi Co. Ltd. | (18800) | (425665) | (19.1) |
|  Japan Aviation Electronics Industry Ltd. | (6400) | (109950) | (4.9) |
|  Japan Hotel REIT Investment Corp. | (478) | (302902) | (13.6) |
|  Japan Logistics Fund, Inc. | (30) | (68407) | (3.1) |
|  Japan Metropolitan Fund Invest | (296) | (228833) | (10.3) |
|  Japan Post Holdings Co Ltd. | (23800) | (208951) | (9.4) |
|  Japan Post Insurance Co. Ltd. | (51300) | (915190) | (41.0) |
|  Japan Prime Realty Investment Corp. | (28) | (75959) | (3.4) |
|  Japan Real Estate Investment Corp. | (225) | (964685) | (43.2) |
|  JGC Holdings Corp. | (8500) | (111028) | (5.0) |
|  JMDC, Inc. | (15700) | (518860) | (23.3) |
|  Justsystems Corp. | (8600) | (214181) | (9.6) |
|  Kajima Corp. | (60300) | (740561) | (33.2) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  Kansai Electric Power Co., Inc. | (10900) | $(104826) | (4.7)% |
|  Kansai Paint Co. Ltd. | (13300) | (187306) | (8.4) |
|  Katitas Co. Ltd. | (800) | (19616) | (0.9) |
|  Kawasaki Heavy Industries Ltd. | (5400) | (123566) | (5.5) |
|  Keihan Holdings Co. Ltd. | (7800) | (209863) | (9.4) |
|  Keikyu Corp. | (1800) | (18653) | (0.8) |
|  Keisei Electric Railway Co. Ltd. | (8400) | (245019) | (11.0) |
|  Keyence Corp. | (400) | (184148) | (8.3) |
|  Kikkoman Corp. | (11800) | (624127) | (28.0) |
|  Kintetsu Group Holdings Co. Ltd. | (7200) | (234468) | (10.5) |
|  Kobayashi Pharmaceutical Co. Ltd. | (4600) | (330244) | (14.8) |
|  Kobe Steel Ltd. | (59500) | (320558) | (14.4) |
|  Komatsu Ltd. | (7500) | (184308) | (8.3) |
|  Kotobuki Spirits Co. Ltd. | (4200) | (275872) | (12.4) |
|  Kurita Water Industries Ltd. | (1800) | (81393) | (3.6) |
|  Kyudenko Corp. | (11400) | (295483) | (13.2) |
|  Kyushu Electric Power Co., Inc. | (35900) | (206663) | (9.3) |
|  Kyushu Financial Group, Inc. | (30900) | (113573) | (5.1) |
|  Kyushu Railway Co. | (13700) | (307108) | (13.8) |
|  LaSalle Logiport REIT | (132) | (159932) | (7.2) |
|  Lasertec Corp. | (200) | (37865) | (1.7) |
|  Mabuchi Motor Co. Ltd. | (11000) | (315044) | (14.1) |
|  Marubeni Corp. | (72600) | (890699) | (39.9) |
|  Marui Group Co. Ltd. | (13100) | (223231) | (10.0) |
|  Matsui Securities Co. Ltd. | (30200) | (180844) | (8.1) |
|  MatsukiyoCocokara & Co. | (900) | (44896) | (2.0) |
|  Mazda Motor Corp. | (2700) | (21492) | (1.0) |
|  Mebuki Financial Group, Inc. | (104500) | (272203) | (12.2) |
|  Miraca Holdings, Inc. | (1800) | (38205) | (1.7) |
|  Mitsubishi Corp. | (6200) | (207613) | (9.3) |
|  Mitsui & Co. Ltd. | (9200) | (271425) | (12.2) |
|  Mitsui Fudosan Logistics Park, Inc. | (294) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1026079) | (46.0) |
|  Mitsui OSK Lines Ltd. | (7900) | (196068) | (8.8) |
|  Miura Co. Ltd. | (8500) | (212698) | (9.5) |
|  MonotaRO Co. Ltd. | (18700) | (283274) | (12.7) |
|  Mori Hills REIT Investment Corp. | (166) | (188632) | (8.5) |
|  Morinaga & Co. Ltd. | (11200) | (332089) | (14.9) |
|  Nagase & Co. Ltd. | (17200) | (277562) | (12.4) |
|  Nextage Co. Ltd. | (8300) | (186693) | (8.4) |
|  NHK Spring Co. Ltd. | (47300) | (334343) | (15.0) |
|  Nifco, Inc. | (11800) | (306289) | (13.7) |
|  Nihon Kohden Corp. | (13700) | (359913) | (16.1) |
|  Nikon Corp. | (1800) | (17772) | (0.8) |
|  Nippon Building Fund, Inc. | (36) | (157333) | (7.1) |
|  Nippon Kayaku Co. Ltd. | (70600) | (655602) | (29.4) |
|  Nippon Paint Holdings Co. Ltd. | (31100) | (283927) | (12.7) |
|  Nippon Sanso Holdings Corp. | (31900) | (520317) | (23.3) |
|  Nippon Shokubai Co. Ltd. | (1900) | (80437) | (3.6) |
|  Nippon Steel Corp. | (22300) | (464168) | (20.8) |
|  Nippon Yusen KK | (4100) | (97534) | (4.4) |
|  Nisshin Seifun Group, Inc. | (22800) | (285581) | (12.8) |
|  Nitori Holdings Co. Ltd. | (5000) | (661779) | (29.7) |
|  Noevir Holdings Co. Ltd. | (2200) | (96877) | (4.3) |
|  NOF Corp. | (2600) | (110753) | (5.0) |
|  NOK Corp. | (26900) | (255478) | (11.4) |
|  Nomura Holdings, Inc. | (377600) | (1506937) | (67.5) |
|  OKUMA Corp. | (1800) | (72959) | (3.3) |
|  Open House Co. Ltd. | (2100) | (79444) | (3.6) |
|  Orix JREIT, Inc. | (14) | (19262) | (0.9) |
|  OSG Corp. | (17300) | (271522) | (12.2) |
|  Pan Pacific International Holdings Corp. | (7300) | (135000) | (6.0) |
|  Park24 Co. Ltd. | (4900) | (83108) | (3.7) |

---

79.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** |  |  |  |
|  PeptiDream, Inc. | (6100) | $(95242) | (4.3)% |
|  Persol Holdings Co. Ltd. | (38200) | (837554) | (37.5) |
|  Rakus Co. Ltd. | (4900) | (67152) | (3.0) |
|  Relo Group, Inc. | (14900) | (252501) | (11.3) |
|  Renesas Electronics Corp. | (4300) | (44230) | (2.0) |
|  Rengo Co. Ltd. | (43900) | (309846) | (13.9) |
|  RENOVA, Inc. | (300) | (5221) | (0.2) |
|  Resonac Holdings Corp. | (12200) | (208505) | (9.3) |
|  Rohto Pharmaceutical Co. Ltd. | (10400) | (191895) | (8.6) |
|  Sankyu, Inc. | (5900) | (231821) | (10.4) |
|  Sanwa Holdings Corp. | (16900) | (178910) | (8.0) |
|  SCREEN Holdings Co. Ltd. | (900) | (67065) | (3.0) |
|  Seiko Epson Corp. | (20500) | (317914) | (14.2) |
|  Sekisui Chemical Co. Ltd. | (45900) | (642980) | (28.8) |
|  Sekisui House Ltd. | (28500) | (538629) | (24.1) |
|  Seven & i Holdings Co. Ltd. | (33500) | (1581632) | (70.9) |
|  SG Holdings Co. Ltd. | (11100) | (171288) | (7.7) |
|  Sharp Corp. | (15300) | (127175) | (5.7) |
|  SHIFT, Inc. | (100) | (18664) | (0.8) |
|  Shikoku Electric Power Co., Inc. | (13800) | (79788) | (3.6) |
|  Shimano, Inc. | (2500) | (445839) | (20.0) |
|  Shin-Etsu Chemical Co. Ltd. | (21100) | (3110626) | (139.4) |
|  Shinko Electric Industries Co. Ltd. | (22600) | (635874) | (28.5) |
|  Shinsei Bank Ltd. | (16100) | (296953) | (13.3) |
|  Ship Healthcare Holdings, Inc. | (3800) | (73785) | (3.3) |
|  Shizuoka Financial Group, Inc. | (35900) | (304132) | (13.6) |
|  Shochiku Co. Ltd. | (1800) | (153471) | (6.9) |
|  Sojitz Corp. | (33200) | (658233) | (29.5) |
|  Sony Group Corp. | (10400) | (929256) | (41.6) |
|  Sotetsu Holdings, Inc. | (19600) | (335078) | (15.0) |
|  Square Enix Holdings Co. Ltd. | (5700) | (269560) | (12.1) |
|  Stanley Electric Co. Ltd. | (17700) | (380926) | (17.1) |
|  Sumitomo Metal Mining Co. Ltd. | (42800) | (1737818) | (77.9) |
|  Sumitomo Mitsui Financial Group, Inc. | (2800) | (121691) | (5.5) |
|  Suzuken Co. Ltd./Aichi Japan | (2100) | (55310) | (2.5) |
|  Taiheiyo Cement Corp. | (26000) | (448069) | (20.1) |
|  Taiyo Yuden Co. Ltd. | (13800) | (468724) | (21.0) |
|  Takara Holdings, Inc. | (21900) | (177962) | (8.0) |
|  Takashimaya Co. Ltd. | (31000) | (433110) | (19.4) |
|  Takeda Pharmaceutical Co. Ltd. | (61900) | (1945973) | (87.2) |
|  TIS, Inc. | (7600) | (219149) | (9.8) |
|  Toho Gas Co. Ltd. | (7800) | (152971) | (6.9) |
|  Tokai Carbon Co. Ltd. | (158500) | (1367481) | (61.3) |
|  Tokyo Gas Co. Ltd. | (16100) | (337129) | (15.1) |
|  TOPPAN, Inc. | (6000) | (96673) | (4.3) |
|  Toshiba TEC Corp. | (3500) | (99596) | (4.5) |
|  Toyo Suisan Kaisha Ltd. | (5300) | (219000) | (9.8) |
|  Toyota Tsusho Corp. | (3900) | (165134) | (7.4) |
|  United Urban Investment Corp. | (89) | (101273) | (4.5) |
|  Visional, Inc. | (6000) | (434751) | (19.5) |
|  West Japan Railway Co. | (10100) | (422973) | (19.0) |
|  Yamaha Corp. | (10900) | (423836) | (19.0) |
|  Yamaha Motor Co. Ltd. | (14500) | (357145) | (16.0) |
|  Yamato Holdings Co. Ltd. | (13800) | (241458) | (10.8) |
|  Yokogawa Electric Corp. | (14200) | (249346) | (11.2) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(60161016) |  |
| **Jersey** |  |  |  |
|  Novocure Ltd. | (5383) | (490822) | (22.0) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Luxembourg** |  |  |  |
|  APERAM SA | (616) | $(24309) | (1.1)% |
|  Aroundtown SA | (95548) | (266025) | (11.9) |
|  Eurofins Scientific SE | (4409) | (316257) | (14.2) |
|  |  | (606591) |  |
| **Macau** |  |  |  |
|  Sands China Ltd. | (111600) | (418510) | (18.8) |
| **Netherlands** |  |  |  |
|  Aalberts NV | (352) | (16644) | (0.7) |
|  Akzo Nobel NV | (3690) | (274850) | (12.3) |
|  ASM International NV | (646) | (218481) | (9.8) |
|  BE Semiconductor Industries NV | (7132) | (510126) | (22.9) |
|  Euronext NV | (3466) | (280857) | (12.6) |
|  IMCD NV | (971) | (153934) | (6.9) |
|  JDE Peet's NV | (1575) | (47156) | (2.1) |
|  Koninklijke Ahold Delhaize NV | (21483) | (641202) | (28.7) |
|  NXP Semiconductors NV | (2065) | (380600) | (17.1) |
|  OCI NV | (1171) | (39861) | (1.8) |
|  SBM Offshore NV | (30356) | (477228) | (21.4) |
|  Stellantis NV | (214652) | (3374542) | (151.2) |
|  Universal Music Group NV | (11975) | (306109) | (13.7) |
|  |  | (6721590) |  |
| **New Zealand** |  |  |  |
|  Fisher & Paykel Healthcare Corp. Ltd. | (2149) | (35268) | (1.6) |
|  Mainfreight Ltd. | (5542) | (256511) | (11.5) |
|  |  | (291779) |  |
| **Portugal** |  |  |  |
|  Banco Comercial Portugues SA | (3661015) | (779975) | (35.0) |
|  Jeronimo Martins SGPS SA | (1137) | (24685) | (1.1) |
|  |  | (804660) |  |
| **Singapore** |  |  |  |
|  Ascendas Real Estate Investment Trust | (238000) | (523750) | (23.5) |
|  DBS Group Holdings Ltd. | (600) | (16345) | (0.7) |
|  Genting Singapore Ltd. | (701300) | (531136) | (23.8) |
|  Jardine Cycle & Carriage Ltd. | (7500) | (166272) | (7.5) |
|  Sea Ltd., ADR | (35837) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2309695) | (103.5) |
|  Singapore Exchange Ltd. | (66900) | (471211) | (21.1) |
|  Singapore Technologies Engineering Ltd. | (78900) | (221831) | (9.9) |
|  Singapore Telecommunications Ltd. | (12700) | (24322) | (1.1) |
|  UOL Group Ltd. | (61900) | (330271) | (14.8) |
|  Venture Corp. Ltd. | (140500) | (1984050) | (88.9) |
|  |  | (6578883) |  |
| **South Africa** |  |  |  |
|  Investec PLC | (48811) | (311474) | (14.0) |
| **Spain** |  |  |  |
|  Amadeus IT Group SA | (17485) | (1101624) | (49.4) |
|  CaixaBank SA | (19699) | (87098) | (3.9) |
|  Cellnex Telecom SA | (6881) | (268407) | (12.0) |
|  Corp. ACCIONA Energias Renovables SA | (8910) | (364366) | (16.3) |
|  Endesa SA | (15784) | (314681) | (14.1) |
|  Grifols SA | (18062) | (239106) | (10.7) |
|  Red Electrica Corp. SA | (1301) | (23026) | (1.1) |
|  |  | (2398308) |  |
| **Sweden** |  |  |  |
|  Sinch AB | (284989) | (1178136) | (52.8) |
| **Switzerland** |  |  |  |
|  Adecco Group AG, Registered Shares | (25141) | (933754) | (41.8) |

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S C H E D U L E O F I N V E S T M E N T S 80

------

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| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Switzerland (continued)** |  |  |  |
|  Alcon, Inc. | (4107) | $(309908) | (13.9)% |
|  Bachem Holding AG | (1653) | (146181) | (6.6) |
|  Baloise Holding AG, Registered Shares | (1146) | (188486) | (8.5) |
|  Barry Callebaut AG, Registered Shares | (624) | (1303744) | (58.4) |
|  Chubb Ltd. | (3708) | (843533) | (37.8) |
|  Emmi AG, Registered Shares | (827) | (770473) | (34.5) |
|  EMS-Chemie Holding AG, Registered Shares | (372) | (277319) | (12.4) |
|  Flughafen Zurich AG, Registered Shares | (2251) | (410118) | (18.4) |
|  Galenica AG | (21390) | (1672860) | (75.0) |
|  Kuehne & Nagel International AG, Registered Shares | (49) | (11684) | (0.5) |
|  Mediclinic International PLC | (33384) | (204256) | (9.2) |
|  On Holding AG, Class A | (12476) | (289443) | (13.0) |
|  Roche Holding AG | (8057) | (2515157) | (112.7) |
|  Schindler Holding AG, Registered Shares | (3885) | (785893) | (35.2) |
|  SIG Group AG | (15944) | (395187) | (17.7) |
|  Sonova Holding AG, Registered Shares | (171) | (42762) | (1.9) |
|  Swiss Life Holding AG, Registered Shares | (1107) | (655175) | (29.4) |
|  Swisscom AG, Registered Shares | (1307) | (772248) | (34.6) |
|  Zurich Insurance Group AG | (6913) | (3418676) | (153.2) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;(15946857) |  |
| **Thailand** |  |  |  |
|  Fabrinet | (5722) | (753359) | (33.8) |
| **United Kingdom** |  |  |  |
|  Admiral Group PLC | (13537) | (368008) | (16.5) |
|  Amcor PLC | (145119) | (1750135) | (78.4) |
|  Anglo American PLC | (13320) | (574497) | (25.7) |
|  Associated British Foods PLC | (35664) | (818674) | (36.7) |
|  Barratt Developments PLC | (19628) | (111560) | (5.0) |
|  Berkeley Group Holdings PLC | (45265) | (2317914) | (103.9) |
|  BP PLC | (73665) | (444955) | (19.9) |
|  British American Tobacco PLC | (52756) | (2022338) | (90.6) |
|  Bunzl PLC | (2730) | (100222) | (4.5) |
|  Clarivate PLC | (79906) | (888555) | (39.8) |
|  CNH Industrial NV | (6478) | (114605) | (5.1) |
|  Coca-Cola Europacific Partners PLC | (21834) | (1227507) | (55.0) |
|  Compass Group PLC | (8257) | (197243) | (8.8) |
|  Dechra Pharmaceuticals PLC | (5196) | (184282) | (8.3) |
|  DS Smith PLC | (146330) | (640619) | (28.7) |
|  Farfetch Ltd., Class A | (134145) | (914869) | (41.0) |
|  Ferguson PLC | (4617) | (650512) | (29.2) |
|  Future PLC | (26314) | (489987) | (22.0) |
|  Greggs PLC, Registered Shares | (27569) | (920583) | (41.3) |
|  GSK PLC | (4699) | (82538) | (3.7) |
|  Haleon PLC | (18238) | (73087) | (3.3) |
|  Harbour Energy PLC | (115891) | (448244) | (20.1) |
|  Imperial Brands PLC | (32926) | (825989) | (37.0) |
|  Inchcape PLC | (9464) | (106704) | (4.8) |
|  InterContinental Hotels Group PLC | (6778) | (470553) | (21.1) |
|  International Consolidated Airlines Group SA | (10671) | (22305) | (1.0) |
|  International Distributions Services PLC | (69164) | (195768) | (8.8) |
|  Janus Henderson Group PLC | (8048) | (208604) | (9.4) |
|  Linde PLC | (755) | (249860) | (11.2) |
|  LXI REIT PLC | (103160) | (143592) | (6.4) |
|  M&G PLC | (34313) | (85691) | (3.8) |
|  Mondi PLC | (18258) | (344306) | (15.4) |
|  National Grid PLC | (6095) | (77485) | (3.5) |
|  Next PLC | (24125) | (1975214) | (88.5) |
|  nVent Electric PLC | (36858) | (1465106) | (65.7) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United Kingdom (continued)** |  |  |  |
|  Ocado Group PLC | (15677) | $(125453) | (5.6)% |
|  Pentair PLC | (366) | (20269) | (0.9) |
|  Prudential PLC | (104813) | (1741473) | (78.0) |
|  RELX PLC | (6276) | (186453) | (8.4) |
|  Rentokil Initial PLC | (6862) | (41512) | (1.9) |
|  Rightmove PLC | (22566) | (163962) | (7.4) |
|  Smiths Group PLC | (8586) | (183285) | (8.2) |
|  Tate & Lyle PLC | (22798) | (212296) | (9.5) |
|  Taylor Wimpey PLC | (238815) | (346502) | (15.5) |
|  Vistry Group PLC | (44473) | (408198) | (18.3) |
|  Vodafone Group PLC | (524576) | (605262) | (27.1) |
|  Watches of Switzerland Group PLC | (50972) | (598368) | (26.8) |
|  Whitbread PLC | (27456) | (1034054) | (46.3) |
|  Wise PLC, Class A | (14486) | (97109) | (4.4) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;(27276307) |  |
| **United States** |  |  |  |
|  10X Genomics, Inc., Class A | (1787) | (83685) | (3.8) |
|  Abbott Laboratories | (2821) | (311862) | (14.0) |
|  Academy Sports & Outdoors, Inc. | (16830) | (983209) | (44.1) |
|  Adient PLC | (3019) | (135915) | (6.1) |
|  AES Corp. | (27738) | (760299) | (34.1) |
|  Aflac, Inc. | (7979) | (586456) | (26.3) |
|  AGCO Corp. | (11994) | (1656731) | (74.2) |
|  agilon health, Inc. | (44978) | (978721) | (43.9) |
|  Agree Realty Corp. | (11680) | (871678) | (39.1) |
|  Air Lease Corp., Class A | (4559) | (205018) | (9.2) |
|  Air Products & Chemicals, Inc. | (362) | (116025) | (5.2) |
|  Airbnb, Inc., Class A | (6592) | (732437) | (32.8) |
|  Alaska Air Group, Inc. | (1987) | (102013) | (4.6) |
|  Albemarle Corp. | (50) | (14072) | (0.6) |
|  Albertsons Cos., Inc., Class A | (27984) | (593261) | (26.6) |
|  Alight, Inc., Class A | (192751) | (1809932) | (81.1) |
|  Allegheny Technologies, Inc. | (1743) | (63428) | (2.8) |
|  Alliant Energy Corp. | (51019) | (2756557) | (123.5) |
|  Altria Group, Inc. | (423) | (19052) | (0.9) |
|  Amdocs Ltd. | (21856) | (2009222) | (90.0) |
|  Ameren Corp. | (2102) | (182601) | (8.2) |
|  American Equity Investment Life Holding Co. | (1421) | (67711) | (3.0) |
|  American Tower Corp. | (1242) | (277450) | (12.4) |
|  Americold Realty Trust | (96332) | (3025788) | (135.6) |
|  Ameriprise Financial, Inc. | (5723) | (2003737) | (89.8) |
|  AmerisourceBergen Corp. | (6030) | (1018829) | (45.7) |
|  Amkor Technology, Inc. | (53194) | (1556456) | (69.8) |
|  AMN Healthcare Services, Inc. | (3151) | (301992) | (13.5) |
|  Annaly Capital Management, Inc. | (23859) | (559971) | (25.1) |
|  Antero Midstream Corp. | (11303) | (123203) | (5.5) |
|  Apartment Income REIT Corp. | (5525) | (211386) | (9.5) |
|  Apellis Pharmaceuticals, Inc. | (3636) | (191726) | (8.6) |
|  Apollo Global Management, Inc. | (39230) | (2776699) | (124.4) |
|  Apple Hospitality REIT, Inc. | (25096) | (444952) | (19.9) |
|  AppLovin Corp., Class A | (46947) | (596227) | (26.7) |
|  AptarGroup, Inc. | (5685) | (657413) | (29.5) |
|  Aramark | (19808) | (882050) | (39.5) |
|  Archer-Daniels-Midland Co. | (36891) | (3056419) | (137.0) |
|  Asbury Automotive Group, Inc. | (532) | (117040) | (5.2) |
|  Assurant, Inc. | (4855) | (643724) | (28.9) |
|  Atkore, Inc. | (8830) | (1150107) | (51.5) |
|  Atmos Energy Corp. | (4981) | (585467) | (26.2) |
|  Automatic Data Processing, Inc. | (10852) | (2450490) | (109.8) |
|  Avangrid, Inc. | (7445) | (313956) | (14.1) |

---

81.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Axalta Coating Systems Ltd. | (2840) | $(85484) | (3.8)% |
|  Axon Enterprise, Inc. | (5115) | (999676) | (44.8) |
|  Ball Corp. | (5994) | (349091) | (15.6) |
|  Bank OZK | (1098) | (50146) | (2.2) |
|  Bath & Body Works, Inc. | (15716) | (723093) | (32.4) |
|  Bentley Systems, Inc., Class B | (44858) | (1751705) | (78.5) |
|  Bill.com Holdings, Inc. | (217) | (25090) | (1.1) |
|  BJ's Wholesale Club Holdings, Inc. | (299) | (21669) | (1.0) |
|  Blackline, Inc. | (1637) | (117537) | (5.3) |
|  Blackstone Mortgage Trust, Inc., Class A | (72842) | (1736553) | (77.8) |
|  Bloom Energy Corp., Class A | (7562) | (188521) | (8.5) |
|  Blue Owl Capital, Inc., Class A | (30032) | (377803) | (16.9) |
|  Boston Properties, Inc. | (21319) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1589118) | (71.2) |
|  Broadcom, Inc. | (1240) | (725412) | (32.5) |
|  Broadridge Financial Solutions, Inc. | (492) | (73977) | (3.3) |
|  Brunswick Corp. | (14288) | (1204907) | (54.0) |
|  Bumble, Inc., Class A | (35886) | (924064) | (41.4) |
|  Bunge Ltd. | (6009) | (595492) | (26.7) |
|  Burlington Stores, Inc. | (3783) | (869447) | (39.0) |
|  Cactus, Inc., Class A | (11101) | (600675) | (26.9) |
|  Caesars Entertainment, Inc. | (13197) | (687036) | (30.8) |
|  Calix, Inc. | (8765) | (461390) | (20.7) |
|  Callaway Golf Co. | (44798) | (1097103) | (49.2) |
|  Campbell Soup Co. | (6012) | (312203) | (14.0) |
|  CarMax, Inc. | (11154) | (785799) | (35.2) |
|  Celanese Corp., Class A | (6490) | (799568) | (35.8) |
|  Celsius Holdings, Inc. | (2103) | (210973) | (9.5) |
|  CenterPoint Energy, Inc. | (36704) | (1105524) | (49.5) |
|  Ceridian HCM Holding, Inc. | (6308) | (455942) | (20.4) |
|  ChampionX Corp. | (24749) | (817212) | (36.6) |
|  Charles Schwab Corp. | (3721) | (288080) | (12.9) |
|  Chemours Co. | (12089) | (439919) | (19.7) |
|  Choice Hotels International, Inc. | (200) | (24578) | (1.1) |
|  Chord Energy Corp. | (114) | (16340) | (0.7) |
|  Cisco Systems, Inc. | (55810) | (2716273) | (121.7) |
|  Citizens Financial Group, Inc. | (24384) | (1056315) | (47.3) |
|  Civitas Resources, Inc. | (9165) | (609931) | (27.3) |
|  Clear Secure, Inc., Class A | (1243) | (39018) | (1.8) |
|  Cleveland-Cliffs, Inc. | (61253) | (1307752) | (58.6) |
|  Cloudflare, Inc., Class A | (5832) | (308571) | (13.8) |
|  Coherent Corp. | (20258) | (879197) | (39.4) |
|  Comcast Corp., Class A | (37793) | (1487155) | (66.6) |
|  Commerce Bancshares, Inc. | (2110) | (140442) | (6.3) |
|  Conagra Brands, Inc. | (27545) | (1024399) | (45.9) |
|  Concentrix Corp. | (5822) | (825618) | (37.0) |
|  Confluent, Inc., Class A | (48723) | (1125501) | (50.4) |
|  Constellation Energy Corp. | (7623) | (650699) | (29.2) |
|  Copart, Inc. | (10445) | (695741) | (31.2) |
|  Corebridge Financial, Inc. | (333821) | (7263945) | (325.5) |
|  Corning, Inc. | (17309) | (599064) | (26.8) |
|  Corteva, Inc. | (23409) | (1508710) | (67.6) |
|  Costar Group, Inc. | (2894) | (225443) | (10.1) |
|  Coty, Inc., Class A | (42336) | (421667) | (18.9) |
|  Crane Holdings Co. | (10215) | (1184021) | (53.1) |
|  Crowdstrike Holdings, Inc., Class A | (1014) | (107383) | (4.8) |
|  CubeSmart | (2937) | (134485) | (6.0) |
|  Cullen/Frost Bankers, Inc. | (12097) | (1575997) | (70.6) |
|  Datadog, Inc., Class A | (11014) | (823957) | (36.9) |
|  Deere & Co. | (280) | (118395) | (5.3) |
|  Delta Air Lines, Inc. | (19858) | (776448) | (34.8) |
|  Diamondback Energy, Inc. | (2024) | (295747) | (13.3) |
|  Digital Realty Trust, Inc. | (3801) | (435671) | (19.5) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Diodes, Inc. | (1907) | $(170085) | (7.6)% |
|  Discover Financial Services | (3549) | (414275) | (18.6) |
|  DoorDash, Inc., Class A | (2788) | (161481) | (7.2) |
|  Dow, Inc. | (22851) | (1356207) | (60.8) |
|  Dr Horton Inc. | (5225) | (515655) | (23.1) |
|  DTE Energy Co. | (1227) | (142786) | (6.4) |
|  DTE Midstream LLC | (7494) | (409622) | (18.4) |
|  Elanco Animal Health, Inc. | (21311) | (292600) | (13.1) |
|  Elastic NV | (3906) | (229829) | (10.3) |
|  EMCOR Group, Inc. | (9413) | (1395477) | (62.5) |
|  Encompass Health Corp. | (26104) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1630195) | (73.1) |
|  Endeavor Group Holdings, Inc., Class A | (26900) | (603367) | (27.0) |
|  Ensign Group, Inc. | (1750) | (163187) | (7.3) |
|  Equitable Holdings, Inc. | (88031) | (2823154) | (126.5) |
|  Essential Utilities Inc. | (44603) | (2084298) | (93.4) |
|  Estee Lauder Cos., Inc., Class A | (3818) | (1057891) | (47.4) |
|  Euronet Worldwide, Inc. | (2312) | (260516) | (11.7) |
|  Evercore, Inc., Class A | (4607) | (598035) | (26.8) |
|  Exact Sciences Corp. | (9926) | (670203) | (30.0) |
|  Exelon Corp. | (2949) | (124418) | (5.6) |
|  ExlService Holdings, Inc. | (2468) | (421041) | (18.9) |
|  Extra Space Storage, Inc. | (7283) | (1149476) | (51.5) |
|  Fastenal Co. | (2292) | (115861) | (5.2) |
|  Federal Realty Investment Trust | (19577) | (2183423) | (97.9) |
|  Fidelity National Financial, Inc. | (1952) | (85947) | (3.9) |
|  First Citizens BancShares, Inc., Class A | (2423) | (1884319) | (84.4) |
|  First Republic Bank | (7786) | (1096892) | (49.2) |
|  FirstEnergy Corp. | (17736) | (726289) | (32.6) |
|  Fiserv, Inc. | (30715) | (3276676) | (146.8) |
|  Five Below, Inc. | (4700) | (926511) | (41.5) |
|  FMC Corp. | (16957) | (2257485) | (101.2) |
|  FNB Corp. | (109851) | (1567574) | (70.3) |
|  Fortive Corp. | (207) | (14082) | (0.6) |
|  Freshworks, Inc., Class A | (43811) | (708862) | (31.8) |
|  Frontier Communications Parent, Inc. | (40718) | (1205660) | (54.0) |
|  GE Healthcare, Inc. | (4377) | (304289) | (13.6) |
|  Generac Holdings, Inc. | (13018) | (1569971) | (70.4) |
|  Genuine Parts Co. | (351) | (58905) | (2.6) |
|  Gitlab, Inc., Class A | (1591) | (78611) | (3.5) |
|  Globe Life, Inc. | (1655) | (200007) | (9.0) |
|  GoDaddy, Inc., Class A | (8781) | (721184) | (32.3) |
|  Graphic Packaging Holding Co. | (40165) | (967575) | (43.4) |
|  Guardant Health, Inc. | (17821) | (560114) | (25.1) |
|  GXO Logistics, Inc. | (17755) | (929119) | (41.6) |
|  Hancock Whitney Corp. | (19580) | (1007978) | (45.2) |
|  Harley-Davidson, Inc. | (6269) | (288562) | (12.9) |
|  Hartford Financial Services Group, Inc. | (4574) | (354988) | (15.9) |
|  Hasbro, Inc. | (16476) | (974885) | (43.7) |
|  Healthcare Realty Trust, Inc., Class A | (106867) | (2300846) | (103.1) |
|  Healthpeak Properties, Inc. | (15798) | (434129) | (19.5) |
|  Hershey Co. | (726) | (163060) | (7.3) |
|  Hess Corp. | (3657) | (549135) | (24.6) |
|  Highwoods Properties, Inc. | (45247) | (1374151) | (61.6) |
|  Hilton Grand Vacations, Inc. | (11305) | (535405) | (24.0) |
|  Home BancShares, Inc. | (72556) | (1731912) | (77.6) |
|  Houlihan Lokey, Inc., Class A | (7534) | (746393) | (33.5) |
|  Howmet Aerospace Inc. | (63032) | (2564772) | (114.9) |
|  Hubbell, Inc., Class B | (2050) | (469265) | (21.0) |
|  Huntington Bancshares, Inc. | (153052) | (2321799) | (104.1) |
|  Hyatt Hotels Corp., Class A | (301) | (32845) | (1.5) |
|  IAA, Inc. | (7530) | (425445) | (19.1) |
|  IAA, Inc. | (14261) | (595112) | (26.7) |

---

S C H E D U L E O F I N V E S T M E N T S 82

------

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| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  IDEX Corp. | (2719) | $(651690) | (29.2)% |
|  Independence Realty Trust, Inc. | (128827) | (2425812) | (108.7) |
|  Ingersoll Rand, Inc. | (19620) | (1098720) | (49.2) |
|  Ingredion, Inc. | (8537) | (877604) | (39.3) |
|  Inspire Medical Systems, Inc. | (1143) | (289248) | (13.0) |
|  Interactive Brokers Group, Inc., Class A | (8011) | (640399) | (28.7) |
|  International Business Machines Corp. | (11410) | (1537269) | (68.9) |
|  International Flavors & Fragrances, Inc. | (23718) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2667326) | (119.5) |
|  International Game Technology PLC | (17638) | (466525) | (20.9) |
|  Interpublic Group of Cos., Inc. | (23748) | (865852) | (38.8) |
|  Intra-Cellular Therapies, Inc. | (16857) | (807787) | (36.2) |
|  iRhythm Technologies, Inc. | (9976) | (980641) | (44.0) |
|  Iridium Communications, Inc. | (1933) | (115671) | (5.2) |
|  JPMorgan Chase & Co. | (17356) | (2429146) | (108.9) |
|  Karuna Therapeutics, Inc. | (1218) | (242857) | (10.9) |
|  Keurig Dr Pepper, Inc. | (2256) | (79592) | (3.6) |
|  Kimberly-Clark Corp. | (18061) | (2348111) | (105.2) |
|  Kinsale Capital Group, Inc. | (3989) | (1110697) | (49.8) |
|  Kite Realty Group Trust | (36248) | (786582) | (35.3) |
|  Kraft Heinz Co. | (37971) | (1538965) | (69.0) |
|  Lancaster Colony Corp. | (943) | (180971) | (8.1) |
|  Leggett & Platt, Inc. | (65302) | (2387441) | (107.0) |
|  Levi Strauss & Co., Class A | (29925) | (550620) | (24.7) |
|  Liberty Media Corp.-Liberty Formula One, |  |  |  |
|  Class C | (6349) | (449509) | (20.1) |
|  Lincoln Electric Holdings, Inc. | (3347) | (558514) | (25.0) |
|  Lithia Motors, Inc., Class A | (1203) | (316630) | (14.2) |
|  Littelfuse, Inc. | (1259) | (323173) | (14.5) |
|  Live Nation Entertainment, Inc. | (6431) | (517631) | (23.2) |
|  Livent Corp. | (3679) | (95360) | (4.3) |
|  Loews Corp. | (20179) | (1240605) | (55.6) |
|  LyondellBasell Industries NV, Class A | (15317) | (1481001) | (66.4) |
|  Madison Square Garden Sports Corp. | (2632) | (478603) | (21.5) |
|  Maravai LifeSciences Holdings, Inc., Class A | (83038) | (1217337) | (54.6) |
|  Markel Corp. | (209) | (294477) | (13.2) |
|  MarketAxess Holdings, Inc. | (1645) | (598533) | (26.8) |
|  Marqeta, Inc., Class A | (39682) | (263092) | (11.8) |
|  MasTec, Inc. | (7768) | (763051) | (34.2) |
|  Mattel, Inc. | (4863) | (99497) | (4.5) |
|  Maximus, Inc. | (58578) | (4384563) | (196.5) |
|  MDU Resources Group, Inc. | (32404) | (1001608) | (44.9) |
|  Medpace Holdings, Inc. | (6899) | (1525162) | (68.4) |
|  Merck & Co., Inc. | (3267) | (350908) | (15.7) |
|  Microchip Technology, Inc. | (6445) | (500261) | (22.4) |
|  Mid-America Apartment Communities, Inc. | (607) | (101199) | (4.5) |
|  MKS Instruments, Inc. | (9953) | (1018391) | (45.6) |
|  Moderna, Inc. | (3248) | (571843) | (25.6) |
|  Molina Healthcare, Inc. | (1674) | (522003) | (23.4) |
|  MongoDB, Inc., Class A | (1420) | (304178) | (13.6) |
|  Morgan Stanley | (15782) | (1536062) | (68.8) |
|  Motorola Solutions, Inc. | (11510) | (2958185) | (132.6) |
|  MP Materials Corp. | (104245) | (3389005) | (151.9) |
|  Murphy Oil Corp. | (807) | (35193) | (1.6) |
|  Murphy USA, Inc. | (6044) | (1644149) | (73.7) |
|  Natera, Inc. | (14462) | (620854) | (27.8) |
|  National Retail Properties, Inc. | (18966) | (898040) | (40.2) |
|  National Storage Affiliates Trust | (1933) | (78866) | (3.5) |
|  nCino, Inc. | (59048) | (1688773) | (75.7) |
|  NCR Corp. | (14515) | (398001) | (17.8) |
|  Neogen Corp. | (1608) | (34427) | (1.5) |
|  Netflix, Inc. | (1831) | (647918) | (29.0) |
|  New Jersey Resources Corp. | (3747) | (187050) | (8.4) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  New Residential Investment Corp. | (159705) | $(1502824) | (67.4)% |
|  New York Times Co., Class A | (3851) | (134169) | (6.0) |
|  Newell Brands, Inc. | (46555) | (743018) | (33.3) |
|  News Corp., Class A | (104629) | (2119784) | (95.0) |
|  NextEra Energy, Inc. | (5388) | (402106) | (18.0) |
|  Norwegian Cruise Line Holdings Ltd. | (13216) | (201015) | (9.0) |
|  Novanta, Inc. | (17528) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2830246) | (126.8) |
|  Nutanix, Inc., Class A | (533) | (14855) | (0.7) |
|  Oak Street Health, Inc. | (31221) | (907282) | (40.7) |
|  OGE Energy Corp. | (45104) | (1773489) | (79.5) |
|  Okta, Inc. | (27279) | (2008007) | (90.0) |
|  Old Dominion Freight Line, Inc. | (1441) | (480199) | (21.5) |
|  Old National Bancorp | (71647) | (1253822) | (56.2) |
|  Old Republic International Corp. | (43132) | (1138253) | (51.0) |
|  Olin Corp. | (8808) | (568909) | (25.5) |
|  Omnicom Group, Inc. | (32529) | (2797169) | (125.4) |
|  ONEOK, Inc. | (5050) | (345824) | (15.5) |
|  Onto Innovation, Inc. | (15243) | (1198862) | (53.7) |
|  Option Care Health, Inc. | (1873) | (54073) | (2.4) |
|  Organon & Co. | (12267) | (369605) | (16.6) |
|  PACCAR, Inc. | (14476) | (1582372) | (70.9) |
|  Palantir Technologies, Inc., Class A | (33751) | (262583) | (11.8) |
|  Palo Alto Networks, Inc. | (3327) | (527795) | (23.7) |
|  Parker-Hannifin Corp. | (4367) | (1423642) | (63.8) |
|  PayPal Holdings, Inc. | (6181) | (503690) | (22.6) |
|  Peloton Interactive, Inc., Class A | (120576) | (1559048) | (69.9) |
|  Penumbra, Inc. | (1340) | (335549) | (15.0) |
|  Performance Food Group Co. | (13676) | (838612) | (37.6) |
|  Permian Resources Corp., Class A | (37648) | (409234) | (18.3) |
|  PG&E Corp. | (35320) | (561588) | (25.2) |
|  Philip Morris International, Inc. | (37927) | (3953510) | (177.2) |
|  Phillips 66 | (11212) | (1124227) | (50.4) |
|  Phillips Edison & Co., Inc. | (19742) | (661752) | (29.7) |
|  Pilgrim's Pride Corp. | (36485) | (885856) | (39.7) |
|  Plug Power, Inc. | (103859) | (1767680) | (79.2) |
|  Pool Corp. | (855) | (329697) | (14.8) |
|  Principal Financial Group, Inc. | (43881) | (4061187) | (182.0) |
|  Procore Technologies, Inc. | (29561) | (1653938) | (74.1) |
|  Progyny, Inc. | (18192) | (625623) | (28.0) |
|  Prometheus Biosciences, Inc. | (1157) | (131505) | (5.9) |
|  Prosperity Bancshares, Inc. | (38958) | (2955354) | (132.4) |
|  PTC, Inc. | (3001) | (404775) | (18.1) |
|  Public Storage | (9318) | (2835840) | (127.1) |
|  QUALCOMM, Inc. | (5728) | (763027) | (34.2) |
|  Qualtrics International, Inc., Class A | (165899) | (2616227) | (117.3) |
|  Quanta Services, Inc. | (8040) | (1223608) | (54.8) |
|  Quest Diagnostics, Inc. | (1060) | (157389) | (7.1) |
|  QuidelOrtho Corp. | (7431) | (636168) | (28.5) |
|  Rambus, Inc. | (17526) | (709277) | (31.8) |
|  Raymond James Financial, Inc. | (8407) | (948057) | (42.5) |
|  Raytheon Technologies Corp. | (6383) | (637343) | (28.6) |
|  RBC Bearings, Inc. | (6766) | (1650701) | (74.0) |
|  Realty Income Corp. | (32701) | (2218109) | (99.4) |
|  Regency Centers Corp., Registered Shares | (14120) | (940816) | (42.2) |
|  Regions Financial Corp., Registered Shares | (8123) | (191215) | (8.6) |
|  Rexford Industrial Realty, Inc. | (2899) | (184000) | (8.2) |
|  RH | (3213) | (1002424) | (44.9) |
|  Rivian Automotive, Inc., Class A | (922) | (17887) | (0.8) |
|  Robinhood Markets, Inc., Class A | (22852) | (237889) | (10.7) |
|  Roku, Inc. | (1681) | (96657) | (4.3) |
|  Ross Stores, Inc. | (25399) | (3001908) | (134.5) |
|  Ryan Specialty Holdings, Inc. | (13933) | (593824) | (26.6) |

---

83.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Science Applications International Corp. | (5739) | $(595593) | (26.7)% |
|  Sealed Air Corp. | (4645) | (254360) | (11.4) |
|  SeaWorld Entertainment, Inc. | (5676) | (354126) | (15.9) |
|  Selective Insurance Group, Inc. | (2757) | (261915) | (11.7) |
|  Sensata Technologies Holding PLC | (9580) | (487143) | (21.8) |
|  SentinelOne, Inc., Class A | (170362) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2570763) | (115.2) |
|  Shift4 Payments, Inc., Class A | (1411) | (90360) | (4.1) |
|  Shoals Technologies Group, Inc., Class A | (10193) | (284283) | (12.7) |
|  Shockwave Medical, Inc. | (1506) | (283023) | (12.7) |
|  Silgan Holdings, Inc. | (13097) | (705797) | (31.6) |
|  Skechers U.S.A., Inc., Class A | (2955) | (142283) | (6.4) |
|  Skyworks Solutions, Inc. | (602) | (66021) | (3.0) |
|  SLM Corp. | (38958) | (684492) | (30.7) |
|  Smartsheet, Inc., Class A | (5605) | (242192) | (10.9) |
|  Snowflake, Inc., Class A | (8594) | (1344445) | (60.3) |
|  South State Corp. | (21058) | (1676217) | (75.1) |
|  Southern Co. | (6036) | (408516) | (18.3) |
|  Southwest Gas Holdings, Inc. | (6237) | (417442) | (18.7) |
|  Spirit AeroSystems Holdings, Inc., Class A | (31893) | (1152932) | (51.7) |
|  SPS Commerce, Inc. | (283) | (38511) | (1.7) |
|  SS&C Technologies Holdings, Inc. | (28241) | (1704344) | (76.4) |
|  STAG Industrial, Inc. | (40194) | (1430906) | (64.1) |
|  Starwood Property Trust, Inc. | (28316) | (591521) | (26.5) |
|  SunPower Corp. | (7106) | (123858) | (5.6) |
|  Super Micro Computer, Inc. | (8735) | (631803) | (28.3) |
|  Sysco Corp. | (13322) | (1031922) | (46.2) |
|  Teledyne Technologies, Inc. | (6991) | (2966002) | (132.9) |
|  Terreno Realty Corp. | (13979) | (900667) | (40.4) |
|  Tesla, Inc. | (4996) | (865407) | (38.8) |
|  Texas Roadhouse, Inc., Class A | (2203) | (221247) | (9.9) |
|  T-Mobile U.S., Inc. | (3052) | (455694) | (20.4) |
|  Toast, Inc., Class A | (20173) | (450060) | (20.2) |
|  Trade Desk, Inc., Class A | (21915) | (1111090) | (49.8) |
|  Tradeweb Markets, Inc., Class A | (6485) | (483392) | (21.7) |
|  TransUnion | (344) | (24682) | (1.1) |
|  Travelers Cos., Inc. | (2735) | (522713) | (23.4) |
|  TripAdvisor, Inc. | (698) | (16263) | (0.7) |
|  Truist Financial Corp. | (4530) | (223737) | (10.0) |
|  Twilio, Inc., Class A | (4028) | (241036) | (10.8) |
|  Uber Technologies, Inc. | (21083) | (652097) | (29.2) |
|  UFP Industries, Inc. | (2311) | (216194) | (9.7) |
|  U-Haul Holding Co. | (431) | (26631) | (1.2) |
|  UiPath, Inc., Class A | (91120) | (1399603) | (62.7) |
|  Ulta Salon Cosmetics & Fragrance, Inc. | (377) | (193763) | (8.7) |
|  United Bankshares, Inc. | (26311) | (1057702) | (47.4) |
|  United Rentals, Inc. | (2411) | (1063130) | (47.6) |
|  Universal Health Services, Inc., Class B | (1575) | (233431) | (10.5) |
|  Valaris Ltd. | (7379) | (536011) | (24.0) |
|  Valley National Bancorp | (92971) | (1104495) | (49.5) |
|  Valvoline, Inc. | (5931) | (217430) | (9.7) |
|  Vertiv Holdings Co., Class A | (23542) | (334767) | (15.0) |
|  Viatris, Inc. | (38512) | (468306) | (21.0) |
|  Vir Biotechnology, Inc. | (8812) | (260395) | (11.7) |
|  Vontier Corp. | (32317) | (744260) | (33.4) |
|  Walt Disney Co. | (17300) | (1876877) | (84.1) |
|  Waste Connections, Inc. | (452) | (60071) | (2.7) |
|  Webster Financial Corp. | (32024) | (1686064) | (75.6) |
|  WEC Energy Group, Inc. | (2431) | (228490) | (10.2) |
|  Welltower, Inc. | (8034) | (602871) | (27.0) |
|  Western Alliance Bancorp | (4236) | (319267) | (14.3) |
|  Western Union Co. | (26804) | (379813) | (17.0) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Westinghouse Air Brake Technologies Corp. | (2310) | $(239801) | (10.7)% |
|  WillScot Mobile Mini Holdings Corp. | (28318) | (1372290) | (61.5) |
|  Wingstop, Inc. | (4489) | (711372) | (31.9) |
|  Wolfspeed, Inc. | (9558) | (736062) | (33.0) |
|  Workiva, Inc., Class A | (3553) | (307441) | (13.8) |
|  WR Berkley Corp. | (2245) | (157464) | (7.1) |
|  WW Grainger, Inc. | (80) | (47158) | (2.1) |
|  Xcel Energy, Inc. | (8602) | (591560) | (26.5) |
|  Zimmer Biomet Holdings, Inc. | (5323) | (677831) | (30.4) |
|  ZoomInfo Technologies, Inc., Class A | (9213) | (260083) | (11.7) |
|  Zscaler, Inc. | (6994) | (868375) | (38.9) |
|  |  | (313743610) |  |
| **Uruguay** |  |  |  |
|  Globant SA | (5397) | (875286) | (39.2) |
| **Preferred Stocks** |  |  |  |
| **Germany** |  |  |  |
|  Henkel AG & Co. KGaA | (20734) | (1478340) | (66.2) |
|  Volkswagen AG | (2616) | (361015) | (16.2) |
|  **Total Reference Entity — Short** | **Total Reference Entity — Short** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(593076566) |  |
|  **Net Value of Reference Entity — Goldman Sachs & Co.** | **Net Value of Reference Entity — Goldman Sachs & Co.** | $2231365 |  |

---

The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with UBS AG as of period end, termination date on July 5, 2023 and October 03, 2023:

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
|  **Reference Entity — Long** | **Reference Entity — Long** | **Reference Entity — Long** | **Reference Entity — Long** |
| **Common Stocks** |  |  |  |
| **Australia** |  |  |  |
|  AGL Energy Ltd. | 260941 | $1415154 | 55.8% |
|  Allkem Ltd. | 120701 | 1120581 | 44.2 |
|  ANZ Group Holdings Ltd. | 53072 | 944490 | 37.3 |
|  ASX Ltd. | 3594 | 175873 | 6.9 |
|  Aurizon Holdings Ltd. | 242746 | 634480 | 25.0 |
|  Bank of Queensland Ltd. | 70857 | 350377 | 13.8 |
|  BHP Group Ltd. | 4528 | 158580 | 6.3 |
|  Challenger Ltd. | 220455 | 1130220 | 44.6 |
|  Charter Hall Group | 72964 | 718446 | 28.3 |
|  Coles Group Ltd. | 64233 | 807899 | 31.9 |
|  Commonwealth Bank of Australia | 6082 | 474773 | 18.7 |
|  Computershare Ltd. | 6625 | 111577 | 4.4 |
|  Domain Holdings Australia Ltd. | 115927 | 265223 | 10.5 |
|  Downer EDI Ltd. | 676523 | 1810412 | 71.4 |
|  Flight Centre Travel Group Ltd. | 179459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2167841 | 85.5 |
|  IDP Education Ltd. | 34940 | 777535 | 30.7 |
|  Iluka Resources Ltd. | 29367 | 225969 | 8.9 |
|  Magellan Financial Group Ltd. | 10513 | 66830 | 2.6 |
|  Medibank Private Ltd. | 365487 | 761413 | 30.0 |
|  Mineral Resources Ltd. | 33418 | 2115696 | 83.5 |
|  Origin Energy Ltd. | 288396 | 1531259 | 60.4 |
|  Orora Ltd. | 44192 | 93507 | 3.7 |
|  OZ Minerals Ltd. | 57644 | 1141746 | 45.0 |
|  Pilbara Minerals Ltd. | 42766 | 145486 | 5.7 |
|  Pro Medicus Ltd. | 29325 | 1400524 | 55.2 |
|  Qantas Airways Ltd. | 9787 | 44177 | 1.7 |

---

S C H E D U L E O F I N V E S T M E N T S 84

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Australia (continued)** |  |  |  |
|  QBE Insurance Group Ltd. | 1543 | $15055 | 0.6% |
|  REA Group Ltd. | 1706 | 152980 | 6.0 |
|  Region RE Ltd., Registered Shares | 209416 | 401847 | 15.9 |
|  SEEK Ltd. | 19354 | 335191 | 13.2 |
|  Star Entertainment Group Ltd. | 106437 | 146868 | 5.8 |
|  Steadfast Group Ltd. | 46823 | 173956 | 6.9 |
|  Suncorp Group Ltd. | 4992 | 44376 | 1.8 |
|  Treasury Wine Estates Ltd. | 410651 | 4230025 | 166.9 |
|  Westpac Banking Corp. | 144098 | 2424574 | 95.6 |
|  WiseTech Global Ltd. | 11486 | 498028 | 19.6 |
|  Worley Ltd. | 15659 | 171899 | 6.8 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29184867 |  |
| **Austria** |  |  |  |
|  ANDRITZ AG | 3942 | 235737 | 9.3 |
|  Raiffeisen Bank International AG | 96491 | 1736082 | 68.5 |
|  Verbund AG | 255 | 21637 | 0.8 |
|  |  | 1993456 |  |
| **Belgium** |  |  |  |
|  Ackermans & van Haaren NV | 1922 | 332611 | 13.1 |
|  Ageas SA/NV | 2384 | 116007 | 4.6 |
|  Anheuser-Busch InBev SA | 27996 | 1689887 | 66.7 |
|  Etablissements Franz Colruyt NV | 11075 | 292865 | 11.5 |
|  Euronav NV | 5274 | 83013 | 3.3 |
|  Sofina SA | 6519 | 1548733 | 61.1 |
|  |  | 4063116 |  |
| **Bermuda** |  |  |  |
|  Hiscox Ltd. | 75304 | 1048092 | 41.3 |
| **Brazil** |  |  |  |
|  Wheaton Precious Metals Corp. | 780 | 35666 | 1.4 |
| **Canada** |  |  |  |
|  Alamos Gold, Inc., Class A | 39906 | 440284 | 17.4 |
|  Algonquin Power & Utilities Corp. | 206077 | 1502346 | 59.3 |
|  Aritzia, Inc. | 3775 | 136156 | 5.4 |
|  B2Gold Corp. | 118855 | 470757 | 18.6 |
|  Ballard Power Systems, Inc. | 181025 | 1185020 | 46.7 |
|  Bank of Nova Scotia | 1668 | 90298 | 3.6 |
|  Baytex Energy Corp. | 134397 | 622213 | 24.5 |
|  Birchcliff Energy Ltd. | 32469 | 208155 | 8.2 |
|  Bombardier, Inc., Class B | 17704 | 855162 | 33.7 |
|  Canadian Imperial Bank of Commerce | 82778 | 3778840 | 149.1 |
|  CGI, Inc. | 4879 | 418174 | 16.5 |
|  Element Fleet Management Corp. | 95529 | 1349777 | 53.2 |
|  Emera, Inc. | 1312 | 52241 | 2.1 |
|  Enerplus Corp. | 103099 | 1829445 | 72.2 |
|  First Majestic Silver Corp. | 124075 | 980067 | 38.7 |
|  First Quantum Minerals Ltd. | 75112 | 1742668 | 68.7 |
|  FirstService Corp. | 1855 | 265100 | 10.5 |
|  Gildan Activewear, Inc. | 43674 | 1369418 | 54.0 |
|  Imperial Oil Ltd. | 39326 | 2149327 | 84.8 |
|  Ivanhoe Mines Ltd., Class A | 49165 | 461886 | 18.2 |
|  Kinaxis, Inc. | 1266 | 147147 | 5.8 |
|  Kinross Gold Corp. | 59612 | 277328 | 10.9 |
|  Lithium Americas Corp. | 7722 | 194189 | 7.7 |
|  Lululemon Athletica, Inc. | 1405 | 431166 | 17.0 |
|  Lundin Mining Corp. | 27877 | 210981 | 8.3 |
|  MEG Energy Corp. | 35022 | 578809 | 22.8 |
|  Methanex Corp. | 33923 | 1605705 | 63.3 |
|  NuVista Energy Ltd. | 13498 | 113113 | 4.5 |
|  Pan American Silver Corp. | 13835 | 252150 | 9.9 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Canada (continued)** |  |  |  |
|  Parex Resources, Inc. | 11622 | $197842 | 7.8% |
|  RioCan Real Estate Investment Trust | 19610 | 340159 | 13.4 |
|  Royal Bank of Canada | 523 | 53521 | 2.1 |
|  Stantec, Inc. | 67741 | 3531258 | 139.3 |
|  Stelco Holdings, Inc. | 1143 | 44473 | 1.8 |
|  Suncor Energy, Inc. | 5336 | 185199 | 7.3 |
|  Teck Resources Ltd., Class B | 9067 | 392241 | 15.5 |
|  TELUS Corp. | 1678 | 36157 | 1.4 |
|  TFI International, Inc. | 643 | 71614 | 2.8 |
|  TMX Group Ltd. | 257 | 25330 | 1 |
|  Toronto-Dominion Bank | 8956 | 619661 | 24.4 |
|  Tourmaline Oil Corp. | 12625 | 588385 | 23.2 |
|  TransAlta Corp. | 10492 | 101880 | 4 |
|  Vermilion Energy, Inc. | 4049 | 62079 | 2.5 |
|  West Fraser Timber Co. Ltd. | 3216 | 279628 | 11 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30247349 |  |
| **Chile** |  |  |  |
|  Antofagasta PLC | 5214 | 112031 | 4.4 |
| **China** |  |  |  |
|  Budweiser Brewing Co. APAC Ltd. | 100900 | 318372 | 12.6 |
| **Denmark** |  |  |  |
|  AP Moller - Maersk A/S, Class A | 79 | 168345 | 6.6 |
|  Carlsberg A/S, Class B | 1224 | 173761 | 6.8 |
|  Coloplast A/S, Class B | 2767 | 334072 | 13.2 |
|  D/S Norden A/S | 3803 | 205002 | 8.1 |
|  Genmab A/S | 814 | 319004 | 12.6 |
|  H Lundbeck A/S | 76392 | 283859 | 11.2 |
|  Jyske Bank AS, Registered Shares | 12499 | 901470 | 35.6 |
|  Novozymes A/S | 3393 | 176560 | 7 |
|  ROCKWOOL A/S, B Shares | 7175 | 2057160 | 81.1 |
|  Royal Unibrew A/S | 6672 | 468521 | 18.5 |
|  SimCorp A/S | 5032 | 352391 | 13.9 |
|  |  | 5440145 |  |
| **Finland** |  |  |  |
|  Kone OYJ, Class B | 3373 | 183950 | 7.3 |
|  Metso Outotec OYJ | 65181 | 749117 | 29.5 |
|  Nokia OYJ | 19699 | 93403 | 3.7 |
|  Wartsila OYJ Abp | 97370 | 926087 | 36.5 |
|  |  | 1952557 |  |
| **France** |  |  |  |
|  Accor SA | 12408 | 402738 | 15.9 |
|  Aeroports de Paris | 1388 | 215331 | 8.5 |
|  Air Liquide SA | 7405 | 1179070 | 46.5 |
|  ALD SA | 35361 | 444549 | 17.5 |
|  Alstom SA | 32345 | 961784 | 37.9 |
|  Arkema SA | 4709 | 476493 | 18.8 |
|  Bureau Veritas SA | 3329 | 95181 | 3.8 |
|  Carrefour SA | 41405 | 787563 | 31.1 |
|  Cie Generale des Etablissements Michelin SCA | 14222 | 449697 | 17.7 |
|  Covivio | 17967 | 1233333 | 48.6 |
|  Danone SA | 21499 | 1178989 | 46.5 |
|  Edenred | 5858 | 318363 | 12.6 |
|  Engie SA | 47433 | 673542 | 26.6 |
|  Faurecia SE | 8121 | 161393 | 6.4 |
|  Gaztransport Et Technigaz SA | 12552 | 1387701 | 54.7 |
|  Gecina SA | 22709 | 2689873 | 106.1 |
|  Hermes International | 793 | 1484107 | 58.5 |
|  ICADE | 39045 | 1854645 | 73.1 |
|  JCDecaux SE | 4225 | 95607 | 3.8 |

---

85.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **France (continued)** | **France (continued)** | **France (continued)** | **France (continued)** |
|  Kering SA | 115 | $71755 | 2.8% |
|  Klepierre SA | 50098 | 1271505 | 50.1 |
|  LVMH Moet Hennessy Louis Vuitton SE | 2206 | 1925784 | 76.0 |
|  Neoen SA | 36960 | 1387827 | 54.7 |
|  Pernod Ricard SA | 4478 | 927080 | 36.6 |
|  Remy Cointreau SA | 935 | 176050 | 6.9 |
|  Renault SA | 11138 | 452865 | 17.9 |
|  Schneider Electric SE | 3619 | 587058 | 23.2 |
|  Societe Generale SA | 5532 | 164669 | 6.5 |
|  Ubisoft Entertainment SA | 1363 | 28223 | 1.1 |
|  Valeo | 130499 | 2852024 | 112.5 |
|  Wendel SE | 3733 | 395280 | 15.6 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26330079 |  |
| **Germany** |  |  |  |
|  1&1 AG | 47812 | 667384 | 26.3 |
|  Adidas AG | 11144 | 1794365 | 70.8 |
|  BASF SE | 14115 | 809289 | 31.9 |
|  Commerzbank AG | 10022 | 114566 | 4.5 |
|  Covestro AG | 8359 | 384886 | 15.2 |
|  Daimler Truck Holding AG | 1990 | 66871 | 2.6 |
|  DWS Group GmbH & Co. KGaA | 48509 | 1744823 | 68.8 |
|  E.ON SE | 12502 | 136308 | 5.4 |
|  Encavis AG | 18856 | 365344 | 14.4 |
|  Evonik Industries AG | 83206 | 1849548 | 73.0 |
|  Fraport AG Frankfurt Airport Services Worldwide | 31023 | 1765557 | 69.7 |
|  Freenet AG | 40502 | 984573 | 38.8 |
|  Knorr-Bremse AG | 43355 | 2849638 | 112.4 |
|  Mercedes-Benz Group AG | 14385 | 1070417 | 42.2 |
|  METRO AG | 33523 | 330316 | 13.0 |
|  Nemetschek SE | 4507 | 240964 | 9.5 |
|  ProSiebenSat.1 Media SE | 34237 | 352134 | 13.9 |
|  Rheinmetall AG | 880 | 205619 | 8.1 |
|  SAP SE | 17674 | 2095075 | 82.6 |
|  Scout24 SE | 1024 | 59615 | 2.4 |
|  Siemens AG, Registered Shares | 6562 | 1025019 | 40.4 |
|  Siemens Energy AG | 8818 | 184374 | 7.3 |
|  SUSE SA | 9290 | 180334 | 7.1 |
|  Talanx AG | 38912 | 1925006 | 75.9 |
|  thyssenkrupp AG | 245839 | 1931275 | 76.2 |
|  VERBIO Vereinigte BioEnergie AG | 802 | 50558 | 2.0 |
|  Wacker Chemie AG | 1235 | 186657 | 7.4 |
|  |  | 23370515 |  |
| **Hong Kong** |  |  |  |
|  ASMPT Ltd. | 33600 | 277523 | 10.9 |
|  Bank of East Asia Ltd. | 92400 | 118698 | 4.7 |
|  Cafe de Coral Holdings Ltd. | 26000 | 45517 | 1.8 |
|  Cathay Pacific Airways Ltd. | 683000 | 680686 | 26.8 |
|  Dah Sing Financial Holdings Ltd. | 27200 | 72093 | 2.8 |
|  First Pacific Co. Ltd. | 216000 | 75327 | 3.0 |
|  Haitong International Securities Group Ltd. | 105600 | 12153 | 0.5 |
|  Hang Lung Group Ltd. | 49000 | 90425 | 3.6 |
|  Hang Lung Properties Ltd. | 96000 | 181012 | 7.1 |
|  Hongkong Land Holdings Ltd. | 171700 | 839402 | 33.1 |
|  Hysan Development Co. Ltd. | 85000 | 285978 | 11.3 |
|  Kerry Properties Ltd. | 93500 | 237060 | 9.4 |
|  Link REIT | 45300 | 362598 | 14.3 |
|  New World Development Co. Ltd. | 1337000 | 3996163 | 157.6 |
|  Shangri-La Asia Ltd. | 130000 | 113504 | 4.5 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** | **Hong Kong (continued)** |
|  Swire Pacific Ltd., Class A | 63000 | $577325 | 22.8% |
|  Swire Properties Ltd. | 144800 | 406969 | 16.1 |
|  Wharf Holdings Ltd. | 377000 | 982135 | 38.7 |
|  |  | 9354568 |  |
| **Ireland** |  |  |  |
|  Accenture PLC, Class A | 5777 | 1612072 | 63.6 |
|  AIB Group PLC | 65047 | 273235 | 10.8 |
|  Bank of Ireland Group PLC | 5523 | 59007 | 2.3 |
|  Experian PLC | 1034 | 37813 | 1.5 |
|  James Hardie Industries PLC | 37220 | 835162 | 32.9 |
|  Kingspan Group PLC | 22383 | 1439586 | 56.8 |
|  Ryanair Holdings PLC | 7482 | 120462 | 4.8 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4377337 |  |
| **Israel** |  |  |  |
|  Alony Hetz Properties & Investments Ltd. | 64672 | 693881 | 27.4 |
|  Elbit Systems Ltd. | 3633 | 609923 | 24.0 |
|  Gav-Yam Lands Corp. Ltd. | 18706 | 151137 | 6.0 |
|  Nice Ltd. | 1794 | 371014 | 14.6 |
|  |  | 1825955 |  |
| **Italy** |  |  |  |
|  A2A SpA | 1330672 | 2003303 | 79.0 |
|  Azimut Holding SpA | 3010 | 75147 | 3.0 |
|  BPER Banca | 90930 | 249794 | 9.9 |
|  Buzzi Unicem SpA | 17034 | 383575 | 15.1 |
|  Enel SpA | 112560 | 662767 | 26.1 |
|  FinecoBank Banca Fineco SpA | 13234 | 237575 | 9.4 |
|  Hera SpA | 156665 | 450038 | 17.8 |
|  Infrastrutture Wireless Italiane SpA | 35624 | 390395 | 15.4 |
|  Intesa Sanpaolo SpA | 316500 | 832164 | 32.8 |
|  Italgas SpA | 12993 | 76057 | 3.0 |
|  Iveco Group NV | 2786 | 22819 | 0.9 |
|  Mediobanca Banca di Credito Finanziario SpA | 100951 | 1085218 | 42.8 |
|  Moncler SpA | 31734 | 1986156 | 78.3 |
|  Prysmian SpA | 3295 | 134560 | 5.3 |
|  Recordati Industria Chimica e Farmaceutica SpA | 2584 | 113201 | 4.5 |
|  Reply SpA | 1063 | 137985 | 5.4 |
|  Snam SpA | 140814 | 717240 | 28.3 |
|  UniCredit SpA | 8562 | 167226 | 6.6 |
|  UnipolSai Assicurazioni SpA | 198848 | 528939 | 20.9 |
|  |  | 10254159 |  |
| **Japan** |  |  |  |
|  Acom Co. Ltd. | 476800 | 1188585 | 46.9 |
|  Aeon Co. Ltd. | 900 | 18452 | 0.7 |
|  Aeon Mall Co. Ltd. | 1000 | 14085 | 0.6 |
|  AEON REIT Investment Corp. | 14 | 15473 | 0.6 |
|  Ain Holdings, Inc. | 1000 | 43099 | 1.7 |
|  Aisin Corp. | 7900 | 230487 | 9.1 |
|  Alfresa Holdings Corp. | 106000 | 1326801 | 52.3 |
|  Amano Corp. | 5700 | 104287 | 4.1 |
|  ANA Holdings, Inc. | 82000 | 1814885 | 71.6 |
|  Anritsu Corp. | 4700 | 45023 | 1.8 |
|  Aozora Bank Ltd. | 125700 | 2513271 | 99.1 |
|  AZ-COM MARUWA Holdings, Inc. | 24900 | 314282 | 12.4 |
|  Benesse Holdings, Inc. | 112800 | 1725342 | 68.1 |
|  Brother Industries Ltd. | 27600 | 428691 | 16.9 |
|  Canon Marketing Japan, Inc. | 1300 | 30856 | 1.2 |
|  Canon, Inc. | 15000 | 332885 | 13.1 |

---

S C H E D U L E O F I N V E S T M E N T S 86

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
|  Coca-Cola Bottlers Japan Holdings, Inc. | 64100 | $674900 | 26.6% |
|  COMSYS Holdings Corp. | 112100 | 2138015 | 84.3 |
|  Cosmos Pharmaceutical Corp. | 300 | 29312 | 1.2 |
|  CyberAgent, Inc. | 342000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3198367 | 126.2 |
|  Daicel Corp. | 4900 | 36154 | 1.4 |
|  Dai-ichi Life Holdings, Inc. | 700 | 16424 | 0.6 |
|  Daiichi Sankyo Co. Ltd. | 15600 | 489948 | 19.3 |
|  Daikin Industries Ltd. | 3300 | 573192 | 22.6 |
|  Daiwa House Industry Co. Ltd. | 27800 | 667617 | 26.3 |
|  DeNA Co. Ltd. | 65400 | 917024 | 36.2 |
|  DIC Corp. | 2100 | 38833 | 1.5 |
|  DMG Mori Co. Ltd. | 59900 | 914926 | 36.1 |
|  Dowa Holdings Co. Ltd. | 18500 | 645893 | 25.5 |
|  Ebara Corp. | 65100 | 2764119 | 109.0 |
|  EXEO Group, Inc. | 28100 | 510958 | 20.2 |
|  Ezaki Glico Co. Ltd. | 5300 | 148102 | 5.8 |
|  Fast Retailing Co. Ltd. | 4400 | 2672381 | 105.4 |
|  Food & Life Cos. Ltd. | 1900 | 41893 | 1.7 |
|  Fuji Media Holdings, Inc. | 106400 | 898662 | 35.4 |
|  Fujitsu Ltd. | 13900 | 1979073 | 78.1 |
|  GMO internet group, Inc. | 28400 | 558908 | 22.0 |
|  GMO Payment Gateway, Inc. | 17700 | 1637815 | 64.6 |
|  Hamamatsu Photonics KK | 800 | 42744 | 1.7 |
|  Hitachi Ltd. | 2300 | 120618 | 4.8 |
|  Horiba Ltd. | 3500 | 161184 | 6.4 |
|  House Foods Group, Inc. | 28600 | 610193 | 24.1 |
|  Hulic Co. Ltd. | 156700 | 1288041 | 50.8 |
|  IHI Corp. | 200 | 6077 | 0.2 |
|  Information Services International-Dentsu Ltd. | 12600 | 417417 | 16.5 |
|  INFRONEER Holdings, Inc. | 84800 | 676911 | 26.7 |
|  Internet Initiative Japan, Inc. | 2900 | 54421 | 2.1 |
|  Isetan Mitsukoshi Holdings Ltd. | 12900 | 140361 | 5.5 |
|  Itochu Techno-Solutions Corp. | 88800 | 2198466 | 86.7 |
|  J Front Retailing Co. Ltd. | 142200 | 1324377 | 52.2 |
|  Japan Exchange Group, Inc. | 30500 | 466789 | 18.4 |
|  JTEKT Corp. | 34400 | 255017 | 10.1 |
|  Kadokawa Corp. | 37400 | 699803 | 27.6 |
|  Kandenko Co. Ltd. | 19900 | 133751 | 5.3 |
|  Kaneka Corp. | 11200 | 294049 | 11.6 |
|  Kao Corp. | 7900 | 319333 | 12.6 |
|  KDDI Corp. | 20100 | 627993 | 24.8 |
|  Kenedix Office Investment Corp. | 25 | 59389 | 2.3 |
|  Kewpie Corp. | 12600 | 219372 | 8.7 |
|  Kinden Corp. | 69200 | 793139 | 31.3 |
|  Kirin Holdings Co. Ltd. | 85000 | 1309826 | 51.7 |
|  Koito Manufacturing Co. Ltd. | 33900 | 571831 | 22.6 |
|  Kokuyo Co. Ltd. | 57200 | 815623 | 32.2 |
|  Kose Corp. | 7900 | 871630 | 34.4 |
|  K's Holdings Corp. | 84100 | 743521 | 29.3 |
|  Kubota Corp. | 73300 | 1101574 | 43.4 |
|  Kyocera Corp. | 10100 | 524103 | 20.7 |
|  Kyowa Kirin Co. Ltd. | 3600 | 80283 | 3.2 |
|  Lawson, Inc. | 17800 | 711756 | 28.1 |
|  Lintec Corp. | 9400 | 162780 | 6.4 |
|  Lion Corp. | 63500 | 702928 | 27.7 |
|  Lixil Corp. | 38200 | 659476 | 26.0 |
|  Mani, Inc. | 18600 | 272063 | 10.7 |
|  McDonald's Holdings Co. Japan Ltd. | 1100 | 43458 | 1.7 |
|  Medipal Holdings Corp. | 5400 | 72095 | 2.8 |
|  Mercari, Inc. | 7000 | 152459 | 6.0 |
|  MISUMI Group, Inc. | 900 | 22651 | 0.9 |
|  Mitsubishi Chemical Group Corp. | 7400 | 41525 | 1.6 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
|  Mitsubishi Electric Corp. | 364700 | $4019268 | 158.5% |
|  Mitsubishi Estate Co. Ltd. | 123100 | 1582219 | 62.4 |
|  Mitsubishi Gas Chemical Co., Inc. | 138500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023833 | 79.8 |
|  Mitsubishi Motors Corp. | 63200 | 243503 | 9.6 |
|  Mitsubishi UFJ Financial Group, Inc. | 431600 | 3161419 | 124.7 |
|  Mitsui Chemicals, Inc. | 52100 | 1226357 | 48.4 |
|  Mitsui Fudosan Co. Ltd. | 144600 | 2710331 | 106.9 |
|  Mizuho Financial Group, Inc. | 35700 | 557650 | 22.0 |
|  MS&AD Insurance Group Holdings, Inc. | 17200 | 551668 | 21.8 |
|  Nabtesco Corp. | 6400 | 187382 | 7.4 |
|  Nagoya Railroad Co. Ltd. | 28600 | 472897 | 18.7 |
|  NEC Corp. | 46100 | 1665483 | 65.7 |
|  NEC Networks & System Integration Corp. | 114200 | 1525075 | 60.2 |
|  NGK Insulators Ltd. | 65300 | 903836 | 35.7 |
|  NGK Spark Plug Co. Ltd. | 400 | 7816 | 0.3 |
|  Nidec Corp. | 1200 | 66101 | 2.6 |
|  Nihon M&A Center Holdings, Inc. | 77300 | 790269 | 31.2 |
|  Nippon Express Holdings, Inc. | 400 | 23213 | 0.9 |
|  Nippon Shinyaku Co. Ltd. | 6600 | 339676 | 13.4 |
|  Nippon Telegraph & Telephone Corp. | 31100 | 932550 | 36.8 |
|  Nippon Television Holdings, Inc. | 86800 | 701755 | 27.7 |
|  Nipro Corp. | 71200 | 571551 | 22.5 |
|  Nissan Motor Co. Ltd. | 398900 | 1433223 | 56.5 |
|  Nitto Denko Corp. | 4400 | 284405 | 11.2 |
|  Nomura Real Estate Holdings, Inc. | 39400 | 868394 | 34.3 |
|  Nomura Real Estate Master Fund, Inc. | 718 | 839676 | 33.1 |
|  Nomura Research Institute Ltd. | 26000 | 624197 | 24.6 |
|  NS Solutions Corp. | 23200 | 597133 | 23.6 |
|  NSK Ltd. | 401400 | 2257619 | 89.0 |
|  OBIC Business Consultants Co. Ltd. | 36900 | 1449148 | 57.2 |
|  Odakyu Electric Railway Co. Ltd. | 15800 | 207728 | 8.2 |
|  Olympus Corp. | 13200 | 248155 | 9.8 |
|  Omron Corp. | 10200 | 590178 | 23.3 |
|  Oracle Corp. Japan | 16500 | 1130363 | 44.6 |
|  Otsuka Corp. | 79300 | 2608933 | 102.9 |
|  Otsuka Holdings Co. Ltd. | 10900 | 349676 | 13.8 |
|  PALTAC Corp. | 8700 | 315001 | 12.4 |
|  Panasonic Holdings Corp. | 26800 | 248526 | 9.8 |
|  Pigeon Corp. | 4100 | 65161 | 2.6 |
|  Pola Orbis Holdings, Inc. | 195400 | 2819176 | 111.2 |
|  Rakuten Group, Inc. | 58500 | 298259 | 11.8 |
|  Resona Holdings, Inc. | 22500 | 124509 | 4.9 |
|  Ricoh Co. Ltd. | 294800 | 2288419 | 90.3 |
|  Rohm Co. Ltd. | 4900 | 392644 | 15.5 |
|  Ryohin Keikaku Co. Ltd. | 1700 | 18850 | 0.7 |
|  Sanrio Co. Ltd. | 19000 | 724702 | 28.6 |
|  Santen Pharmaceutical Co. Ltd. | 174000 | 1356461 | 53.5 |
|  Sapporo Holdings Ltd. | 3000 | 73263 | 2.9 |
|  Sawai Group Holdings Co. Ltd. | 28000 | 866313 | 34.2 |
|  SCSK Corp. | 16500 | 268742 | 10.6 |
|  Sega Sammy Holdings, Inc. | 28900 | 457617 | 18.1 |
|  Shimizu Corp. | 270100 | 1514098 | 59.7 |
|  Shiseido Co. Ltd. | 42300 | 2198585 | 86.7 |
|  SHO-BOND Holdings Co. Ltd. | 400 | 17066 | 0.7 |
|  Skylark Holdings Co. Ltd. | 5100 | 60694 | 2.4 |
|  SoftBank Corp. | 11500 | 131584 | 5.2 |
|  Sohgo Security Services Co. Ltd. | 115600 | 3182686 | 125.5 |
|  Sompo Holdings, Inc. | 29000 | 1248418 | 49.2 |
|  Sugi Holdings Co. Ltd. | 12800 | 559464 | 22.1 |
|  Sumitomo Bakelite Co. Ltd. | 1900 | 61910 | 2.4 |
|  Sumitomo Corp. | 9700 | 174114 | 6.9 |
|  Sumitomo Electric Industries Ltd. | 29100 | 349670 | 13.8 |

---

87.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
|  Sumitomo Heavy Industries Ltd. | 25900 | $575945 | 22.7% |
|  Sumitomo Mitsui Trust Holdings, Inc. | 30000 | 1092859 | 43.1 |
|  Sumitomo Pharma Co. Ltd. | 28700 | 201786 | 8.0 |
|  Sumitomo Realty & Development Co. Ltd. | 74500 | 1816096 | 71.6 |
|  Sumitomo Rubber Industries Ltd. | 5700 | 50603 | 2.0 |
|  Sundrug Co. Ltd. | 16800 | 475328 | 18.7 |
|  Suntory Beverage & Food Ltd. | 16300 | 550414 | 21.7 |
|  T&D Holdings, Inc. | 32500 | 520203 | 20.5 |
|  Taisei Corp. | 7600 | 262367 | 10.3 |
|  Taisho Pharmaceutical Holdings Co. Ltd. | 28600 | 1203078 | 47.5 |
|  Takara Bio, Inc. | 27000 | 357428 | 14.1 |
|  TBS Holdings, Inc. | 96500 | 1126581 | 44.4 |
|  Terumo Corp. | 19200 | 558919 | 22.0 |
|  Toda Corp. | 63300 | 345269 | 13.6 |
|  Tokyo Ohka Kogyo Co. Ltd. | 5800 | 285862 | 11.3 |
|  Tokyo Tatemono Co. Ltd. | 87300 | 1082302 | 42.7 |
|  Toray Industries, Inc. | 6100 | 37479 | 1.5 |
|  Tosoh Corp. | 1800 | 23550 | 0.9 |
|  Toyoda Gosei Co. Ltd. | 8000 | 132833 | 5.2 |
|  Toyota Boshoku Corp. | 21600 | 320369 | 12.6 |
|  Trend Micro, Inc. | 5300 | 262424 | 10.4 |
|  TS Tech Co. Ltd. | 98200 | 1223248 | 48.2 |
|  Tsumura & Co. | 10800 | 230926 | 9.1 |
|  Tsuruha Holdings, Inc. | 54800 | 4034790 | 159.1 |
|  Ube Industries Ltd. | 19600 | 307433 | 12.1 |
|  Ulvac, Inc. | 15200 | 711086 | 28.0 |
|  Welcia Holdings Co. Ltd. | 9400 | 210096 | 8.3 |
|  Yakult Honsha Co. Ltd. | 20400 | 1456313 | 57.4 |
|  Yamato Kogyo Co. Ltd. | 9000 | 341115 | 13.5 |
|  Yamazaki Baking Co. Ltd. | 134500 | 1573612 | 62.1 |
|  Yaskawa Electric Corp. | 33700 | 1317302 | 52.0 |
|  Zenkoku Hosho Co. Ltd. | 3500 | 136317 | 5.4 |
|  ZOZO, Inc. | 45500 | 1179506 | 46.5 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133040098 |  |
| **Luxembourg** |  |  |  |
|  ArcelorMittal SA | 33750 | 1047024 | 41.3 |
|  L'Occitane International SA | 19250 | 53558 | 2.1 |
|  |  | 1100582 |  |
| **Macau** |  |  |  |
|  MGM China Holdings Ltd. | 393200 | 496765 | 19.6 |
|  Wynn Macau Ltd. | 404000 | 462391 | 18.2 |
|  |  | 959156 |  |
| **Netherlands** |  |  |  |
|  ABN AMRO Bank NV | 15699 | 260565 | 10.3 |
|  ASR Nederland NV | 3560 | 168500 | 6.6 |
|  Heineken Holding NV | 588 | 48549 | 1.9 |
|  Koninklijke KPN NV | 64806 | 221296 | 8.7 |
|  Koninklijke Vopak NV | 3075 | 92651 | 3.7 |
|  NN Group NV | 16570 | 719935 | 28.4 |
|  Randstad NV | 15095 | 967564 | 38.2 |
|  Signify NV | 40342 | 1460598 | 57.6 |
|  |  | 3939658 |  |
| **New Zealand** |  |  |  |
|  a2 Milk Co. Ltd. | 90961 | 439818 | 17.4 |
|  Infratil Ltd. | 75027 | 431934 | 17.0 |
|  |  | 871752 |  |
| **Norway** |  |  |  |
|  Gjensidige Forsikring ASA | 28443 | 511219 | 20.2 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **Norway (continued)** | **Norway (continued)** | **Norway (continued)** | **Norway (continued)** |
|  Golden Ocean Group Ltd. | 51520 | $492875 | 19.4% |
|  Kongsberg Gruppen ASA | 18890 | 752043 | 29.7 |
|  NEL ASA | 358824 | 614965 | 24.2 |
|  Nordic Semiconductor ASA | 1598 | 25482 | 1 |
|  TOMRA Systems ASA | 65788 | 1161378 | 45.8 |
|  Var Energi ASA | 428902 | 1304666 | 51.5 |
|  |  | 4862628 |  |
| **Poland** |  |  |  |
|  InPost SA | 5840 | 56398 | 2.2 |
| **Singapore** |  |  |  |
|  City Developments Ltd. | 164500 | 1044053 | 41.2 |
|  ComfortDelGro Corp. Ltd. | 78300 | 71735 | 2.8 |
|  Keppel REIT | 1561900 | 1151149 | 45.4 |
|  Mapletree Pan Asia Commercial Trust | 238300 | 331576 | 13.1 |
|  Sembcorp Industries Ltd. | 684700 | 1888179 | 74.5 |
|  StarHub Ltd. | 129400 | 112549 | 4.4 |
|  Suntec Real Estate Investment Trust | 582600 | 622882 | 24.6 |
|  |  | 5222123 |  |
| **Spain** |  |  |  |
|  Acciona SA | 316 | 61652 | 2.4 |
|  Banco Bilbao Vizcaya Argentaria SA | 25343 | 179017 | 7.1 |
|  Banco de Sabadell SA | 293621 | 383869 | 15.1 |
|  EDP Renovaveis SA | 42897 | 933056 | 36.8 |
|  Ferrovial SA | 177 | 5229 | 0.2 |
|  Fluidra SA | 65720 | 1160224 | 45.8 |
|  Inmobiliaria Colonial Socimi SA | 29097 | 212226 | 8.4 |
|  Merlin Properties Socimi SA | 137572 | 1344447 | 53 |
|  Repsol SA | 98738 | 1621953 | 64 |
|  Solaria Energia y Medio Ambiente SA | 14425 | 295982 | 11.7 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6197655 |  |
| **Sweden** |  |  |  |
|  Alfa Laval AB | 27637 | 868510 | 34.2 |
|  Atlas Copco AB, A Shares | 32813 | 389361 | 15.4 |
|  Atlas Copco AB, B Shares | 47396 | 499914 | 19.7 |
|  Avanza Bank Holding AB | 8754 | 201986 | 8 |
|  Beijer Ref AB, Class B | 4408 | 68002 | 2.7 |
|  Elekta AB, B Shares | 11126 | 80984 | 3.2 |
|  Epiroc AB, Class A | 10660 | 207409 | 8.2 |
|  Epiroc AB, Class B | 5418 | 90332 | 3.6 |
|  Getinge AB, B Shares | 872 | 19644 | 0.8 |
|  Industrivarden AB, A Shares | 15835 | 419475 | 16.5 |
|  Industrivarden AB, C Shares | 108338 | 2854128 | 112.6 |
|  Investor AB, A Shares | 27912 | 557084 | 22 |
|  L E Lundbergforetagen AB, B Shares | 16093 | 745222 | 29.4 |
|  Nibe Industrier AB, B Shares | 9897 | 106327 | 4.2 |
|  Saab AB, Class B | 20702 | 847508 | 33.4 |
|  Sagax AB, Class B | 1951 | 48531 | 1.9 |
|  SKF AB | 46924 | 830475 | 32.7 |
|  Sweco AB, B Shares | 2672 | 28985 | 1.1 |
|  Thule Group AB | 24984 | 598712 | 23.6 |
|  |  | 9462589 |  |
| **Switzerland** |  |  |  |
|  TE Connectivity Ltd. | 5150 | 654822 | 25.8 |
| **United Kingdom** |  |  |  |
|  Ashtead Group PLC | 7856 | 517465 | 20.4 |
|  AstraZeneca PLC | 3458 | 453041 | 17.9 |
|  Atlantica Sustainable Infrastructure PLC | 1504 | 41240 | 1.6 |
|  Aviva PLC | 244749 | 1380347 | 54.5 |

---

S C H E D U L E O F I N V E S T M E N T S 88

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
|  Barclays PLC | 3099 | $7124 | 0.3% |
|  Bellway PLC | 8566 | 224049 | 8.8 |
|  Burberry Group PLC | 111731 | 3403428 | 134.2 |
|  Centrica PLC | 1018817 | 1269244 | 50.1 |
|  ConvaTec Group PLC | 177453 | 514697 | 20.3 |
|  Darktrace PLC | 44568 | 115772 | 4.6 |
|  Derwent London PLC | 17384 | 554545 | 21.9 |
|  Diageo PLC | 2361 | 103237 | 4.1 |
|  Direct Line Insurance Group PLC | 65408 | 143416 | 5.7 |
|  Dr. Martens PLC | 596963 | 1144113 | 45.1 |
|  Drax Group PLC | 185938 | 1484989 | 58.6 |
|  easyJet PLC | 219843 | 1339192 | 52.8 |
|  Hargreaves Lansdown PLC | 1852 | 20389 | 0.8 |
|  Hays PLC | 389070 | 593623 | 23.4 |
|  IG Group Holdings PLC | 31304 | 307790 | 12.1 |
|  IMI PLC | 41303 | 739534 | 29.2 |
|  Indivior PLC | 95179 | 2285380 | 90.1 |
|  Intermediate Capital Group PLC | 12735 | 219137 | 8.6 |
|  ITV PLC | 1562298 | 1564534 | 61.7 |
|  Kingfisher PLC | 370598 | 1278533 | 50.4 |
|  Liberty Global PLC, Class C | 1878 | 41973 | 1.7 |
|  LivaNova PLC | 273 | 15343 | 0.6 |
|  Melrose Industries PLC | 205836 | 362923 | 14.3 |
|  NatWest Group PLC | 327352 | 1248866 | 49.3 |
|  Pennon Group PLC | 1621 | 18402 | 0.7 |
|  Persimmon PLC | 15091 | 263569 | 10.4 |
|  Reckitt Benckiser Group PLC | 2326 | 165753 | 6.5 |
|  Renishaw PLC | 16420 | 801431 | 31.6 |
|  Rotork PLC | 52539 | 206963 | 8.2 |
|  Schroders PLC | 85162 | 503630 | 19.9 |
|  Segro PLC | 76354 | 785957 | 31.0 |
|  Smith & Nephew PLC | 12932 | 178595 | 7.0 |
|  Spectris PLC | 1041 | 41270 | 1.6 |
|  Spirax-Sarco Engineering PLC | 1120 | 159983 | 6.3 |
|  Standard Chartered PLC | 2319 | 19418 | 0.8 |
|  Travis Perkins PLC | 163382 | 2049589 | 80.8 |
|  Tritax Big Box REIT PLC | 378501 | 729283 | 28.8 |
|  UNITE Group PLC | 41712 | 513855 | 20.3 |
|  United Utilities Group PLC | 7326 | 95861 | 3.8 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27907483 |  |
| **United States** |  |  |  |
|  A O Smith Corp. | 6444 | 436259 | 17.2 |
|  Acadia Healthcare Co., Inc. | 7057 | 592929 | 23.4 |
|  AECOM | 9571 | 835261 | 32.9 |
|  Agilent Technologies, Inc. | 9726 | 1479130 | 58.3 |
|  Alcoa Corp. | 562 | 29359 | 1.2 |
|  Alnylam Pharmaceuticals, Inc. | 39 | 8830 | 0.4 |
|  Alphabet, Inc., Class A | 5951 | 588197 | 23.2 |
|  Amedisys, Inc. | 1897 | 183364 | 7.2 |
|  AMETEK, Inc. | 2 | 290 | 0.0 |
|  Amphenol Corp., Class A | 1653 | 131860 | 5.2 |
|  ANSYS, Inc. | 109 | 29033 | 1.1 |
|  Antero Resources Corp. | 4788 | 138086 | 5.4 |
|  Aon PLC, Class A | 2365 | 753678 | 29.7 |
|  APA Corp. | 19679 | 872370 | 34.4 |
|  Applied Materials, Inc. | 9145 | 1019576 | 40.2 |
|  Armstrong World Industries, Inc. | 1181 | 91421 | 3.6 |
|  Arrow Electronics, Inc. | 1077 | 126537 | 5.0 |
|  Arthur J Gallagher & Co. | 552 | 108037 | 4.3 |
|  ASGN, Inc. | 3621 | 329330 | 13.0 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Ashland, Inc. | 713 | $77909 | 3.1% |
|  AT&T, Inc. | 7263 | 147947 | 5.8 |
|  Autodesk, Inc. | 540 | 116186 | 4.6 |
|  Avis Budget Group, Inc. | 1056 | 211242 | 8.3 |
|  AZEK Co., Inc., Class A | 985 | 23768 | 0.9 |
|  Azenta, Inc. | 920 | 51428 | 2 |
|  Bank of New York Mellon Corp. | 10008 | 506105 | 20 |
|  Baxter International, Inc. | 11544 | 527445 | 20.8 |
|  Beacon Roofing Supply, Inc. | 7338 | 417385 | 16.5 |
|  Best Buy Co., Inc. | 353 | 31318 | 1.2 |
|  Biogen, Inc. | 280 | 81452 | 3.2 |
|  Bio-Rad Laboratories, Inc., Class A | 109 | 50953 | 2 |
|  Black Hills Corp. | 3748 | 271280 | 10.7 |
|  Booz Allen Hamilton Holding Corp., Class A | 3614 | 342029 | 13.5 |
|  Boston Scientific Corp. | 3352 | 155030 | 6.1 |
|  Box, Inc., Class A | 2918 | 93347 | 3.7 |
|  Boyd Gaming Corp. | 1819 | 113342 | 4.5 |
|  Bright Horizons Family Solutions, Inc. | 337 | 25875 | 1 |
|  Bristol-Myers Squibb Co. | 6293 | 457186 | 18 |
|  Brixmor Property Group, Inc. | 1682 | 39577 | 1.6 |
|  Brown-Forman Corp., Class B | 8237 | 548419 | 21.6 |
|  Builders FirstSource, Inc. | 4389 | 349803 | 13.8 |
|  Capri Holdings Ltd. | 739 | 49136 | 1.9 |
|  Carlisle Cos., Inc. | 513 | 128691 | 5.1 |
|  Carnival Corp. | 27513 | 297691 | 11.7 |
|  Carnival PLC | 100818 | 963238 | 38 |
|  CBRE Group, Inc., Class A | 2246 | 192055 | 7.6 |
|  Charles River Laboratories International, Inc. | 2078 | 505473 | 19.9 |
|  Chart Industries, Inc. | 1918 | 256974 | 10.1 |
|  Chemed Corp. | 543 | 274291 | 10.8 |
|  Chevron Corp. | 8087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1407300 | 55.5 |
|  Chipotle Mexican Grill, Inc., Class A | 47 | 77380 | 3.1 |
|  Ciena Corp. | 846 | 44009 | 1.7 |
|  Cigna Corp. | 812 | 257136 | 10.1 |
|  Cincinnati Financial Corp. | 594 | 67211 | 2.7 |
|  Cintas Corp. | 447 | 198352 | 7.8 |
|  CMS Energy Corp. | 7404 | 467859 | 18.5 |
|  CNX Resources Corp. | 4603 | 77008 | 3 |
|  Cognex Corp. | 1986 | 108714 | 4.3 |
|  Columbia Sportswear Co. | 10092 | 967823 | 38.2 |
|  Comerica, Inc. | 2637 | 193318 | 7.6 |
|  Comstock Resources, Inc. | 11831 | 143747 | 5.7 |
|  Costco Wholesale Corp. | 1497 | 765177 | 30.2 |
|  Crocs, Inc. | 6092 | 741823 | 29.3 |
|  CSX Corp. | 1855 | 57357 | 2.3 |
|  Curtiss-Wright Corp. | 379 | 62838 | 2.5 |
|  CVS Health Corp. | 17244 | 1521266 | 60 |
|  Darling Ingredients, Inc. | 1576 | 104473 | 4.1 |
|  Deckers Outdoor Corp. | 382 | 163297 | 6.4 |
|  Dell Technologies, Inc., Class C | 2200 | 89364 | 3.5 |
|  Devon Energy Corp. | 3866 | 244486 | 9.6 |
|  Dick's Sporting Goods, Inc. | 694 | 90747 | 3.6 |
|  DocuSign, Inc., Class A | 1459 | 88474 | 3.5 |
|  Dolby Laboratories, Inc., Class A | 5617 | 446888 | 17.6 |
|  Dollar General Corp. | 880 | 205568 | 8.1 |
|  Dollar Tree, Inc. | 1942 | 291650 | 11.5 |
|  Dominion Energy, Inc. | 4624 | 294271 | 11.6 |
|  Domino's Pizza, Inc. | 2231 | 787543 | 31.1 |
|  Donaldson Co., Inc. | 503 | 31362 | 1.2 |
|  Dover Corp. | 221 | 33554 | 1.3 |
|  DuPont de Nemours, Inc. | 2057 | 152115 | 6 |

---

89.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Dynatrace, Inc. | 1002 | $38507 | 1.5% |
|  Eastman Chemical Co. | 210 | 18516 | 0.7 |
|  Eaton Corp. PLC | 219 | 35524 | 1.4 |
|  Ecolab, Inc. | 2931 | 453807 | 17.9 |
|  Element Solutions, Inc. | 1666 | 34120 | 1.3 |
|  Elevance Health, Inc. | 1708 | 853983 | 33.7 |
|  Emerson Electric Co. | 5653 | 510014 | 20.1 |
|  Enovis Corp. | 3187 | 200622 | 7.9 |
|  Envista Holdings Corp. | 642 | 25032 | 1 |
|  EPAM Systems, Inc. | 204 | 67861 | 2.7 |
|  Everest Re Group Ltd. | 163 | 56999 | 2.3 |
|  Evergy, Inc. | 501 | 31388 | 1.2 |
|  Expedia Group, Inc. | 433 | 49492 | 2 |
|  Exxon Mobil Corp. | 10969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1272514 | 50.2 |
|  FedEx Corp. | 3035 | 588365 | 23.2 |
|  First Solar, Inc. | 839 | 149006 | 5.9 |
|  Floor & Decor Holdings, Inc., Class A | 3005 | 272764 | 10.8 |
|  Flowserve Corp. | 1048 | 36072 | 1.4 |
|  Ford Motor Co. | 28956 | 391196 | 15.4 |
|  FTI Consulting, Inc. | 455 | 72582 | 2.9 |
|  Gartner, Inc. | 504 | 170423 | 6.7 |
|  General Dynamics Corp. | 4167 | 971161 | 38.3 |
|  Gentex Corp. | 10961 | 323459 | 12.8 |
|  Globus Medical, Inc., Class A | 2860 | 215930 | 8.5 |
|  Goldman Sachs Group, Inc. | 174 | 63651 | 2.5 |
|  Graco, Inc. | 2287 | 156248 | 6.2 |
|  Halozyme Therapeutics, Inc. | 3640 | 188443 | 7.4 |
|  Hanover Insurance Group, Inc. | 727 | 97840 | 3.9 |
|  Helmerich & Payne, Inc. | 1976 | 95717 | 3.8 |
|  Henry Schein, Inc. | 3367 | 290067 | 11.4 |
|  Hewlett Packard Enterprise Co. | 11150 | 179849 | 7.1 |
|  Hexcel Corp. | 2677 | 188943 | 7.5 |
|  Home Depot, Inc. | 3689 | 1195863 | 47.2 |
|  HP, Inc. | 2912 | 84856 | 3.3 |
|  HubSpot, Inc. | 537 | 186344 | 7.4 |
|  ICU Medical, Inc. | 332 | 64152 | 2.5 |
|  IDEXX Laboratories, Inc. | 664 | 319052 | 12.6 |
|  Intuit, Inc. | 63 | 26628 | 1.1 |
|  Intuitive Surgical, Inc. | 345 | 84763 | 3.3 |
|  Invesco Ltd. | 41679 | 771478 | 30.4 |
|  Iron Mountain, Inc. | 6373 | 347838 | 13.7 |
|  Jacobs Solutions, Inc. | 1051 | 129851 | 5.1 |
|  JB Hunt Transport Services, Inc. | 1334 | 252193 | 9.9 |
|  Johnson & Johnson | 3218 | 525886 | 20.7 |
|  Johnson Controls International PLC | 8304 | 577709 | 22.8 |
|  Jones Lang LaSalle, Inc. | 520 | 96132 | 3.8 |
|  KBR, Inc. | 7530 | 385762 | 15.2 |
|  KeyCorp | 37553 | 720642 | 28.4 |
|  Keysight Technologies, Inc. | 7153 | 1282891 | 50.6 |
|  Kimco Realty Corp. | 4845 | 108819 | 4.3 |
|  Knight-Swift Transportation Holdings, Inc. | 327 | 19326 | 0.8 |
|  Kroger Co. | 7745 | 345659 | 13.6 |
|  L3Harris Technologies, Inc. | 229 | 49194 | 1.9 |
|  Lam Research Corp. | 93 | 46509 | 1.8 |
|  Lamar Advertising Co., Class A | 877 | 93436 | 3.7 |
|  Las Vegas Sands Corp. | 1136 | 67024 | 2.6 |
|  Leidos Holdings, Inc. | 144 | 14233 | 0.6 |
|  Lennar Corp., Class A | 2533 | 259379 | 10.2 |
|  Lennox International, Inc. | 9335 | 2432888 | 96 |
|  LKQ Corp. | 8166 | 481467 | 19 |
|  Lockheed Martin Corp. | 513 | 237652 | 9.4 |
|  Lowe's Cos., Inc. | 3633 | 756572 | 29.8 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Lyft, Inc., Class A | 4742 | $77057 | 3.0% |
|  MACOM Technology Solutions Holdings, Inc. | 963 | 64540 | 2.5 |
|  Manhattan Associates, Inc. | 816 | 106374 | 4.2 |
|  ManpowerGroup, Inc. | 498 | 43406 | 1.7 |
|  Marathon Oil Corp. | 5846 | 160590 | 6.3 |
|  Martin Marietta Materials, Inc. | 2936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055903 | 41.7 |
|  Masco Corp. | 10707 | 569612 | 22.5 |
|  Masimo Corp. | 295 | 50174 | 2.0 |
|  Mastercard, Inc., Class A | 178 | 65967 | 2.6 |
|  Matador Resources Co. | 6589 | 435928 | 17.2 |
|  MGIC Investment Corp. | 23005 | 324831 | 12.8 |
|  Micron Technology, Inc. | 2954 | 178126 | 7.0 |
|  Microsoft Corp. | 2313 | 573185 | 22.6 |
|  Molson Coors Beverage Co., Class B | 4428 | 232824 | 9.2 |
|  Moody's Corp. | 2378 | 767499 | 30.3 |
|  NetApp, Inc. | 566 | 37486 | 1.5 |
|  Newmont Corp. | 903 | 47796 | 1.9 |
|  Nordson Corp. | 2161 | 525771 | 20.7 |
|  Northrop Grumman Corp. | 439 | 196690 | 7.8 |
|  Nucor Corp. | 1017 | 171893 | 6.8 |
|  NVR, Inc. | 4 | 21080 | 0.8 |
|  Occidental Petroleum Corp. | 267 | 17299 | 0.7 |
|  Ollie's Bargain Outlet Holdings, Inc. | 527 | 28858 | 1.1 |
|  Oshkosh Corp. | 1884 | 189869 | 7.5 |
|  Ovintiv, Inc. | 10406 | 512287 | 20.2 |
|  Ovintiv, Inc. | 8965 | 440720 | 17.4 |
|  Owens Corning | 4897 | 473295 | 18.7 |
|  PacWest Bancorp | 2714 | 75069 | 3.0 |
|  Papa John's International, Inc. | 680 | 60989 | 2.4 |
|  Paramount Global, Class B | 21536 | 498774 | 19.7 |
|  Patterson-UTI Energy, Inc. | 2080 | 34944 | 1.4 |
|  Penn Entertainment, Inc. | 3749 | 132902 | 5.2 |
|  Penske Automotive Group, Inc. | 2755 | 352144 | 13.9 |
|  PerkinElmer, Inc. | 266 | 36583 | 1.4 |
|  Pinnacle Financial Partners, Inc. | 6883 | 541899 | 21.4 |
|  Pioneer Natural Resources Co. | 1036 | 238643 | 9.4 |
|  Planet Fitness, Inc., Class A | 935 | 79148 | 3.1 |
|  Portland General Electric Co. | 1205 | 57334 | 2.3 |
|  PPG Industries, Inc. | 7859 | 1024342 | 40.4 |
|  Primo Water Corp. | 7703 | 120418 | 4.8 |
|  Prudential Financial, Inc. | 3281 | 344308 | 13.6 |
|  Public Service Enterprise Group, Inc. | 7535 | 466643 | 18.4 |
|  PulteGroup, Inc. | 2674 | 152124 | 6.0 |
|  PVH Corp. | 1148 | 103205 | 4.1 |
|  Qorvo, Inc. | 536 | 58242 | 2.3 |
|  Qualys, Inc. | 1858 | 214339 | 8.5 |
|  Ralph Lauren Corp., Class A | 3412 | 422576 | 16.7 |
|  Red Rock Resorts, Inc., Class A | 4353 | 195929 | 7.7 |
|  Reliance Steel & Aluminum Co. | 2592 | 589550 | 23.3 |
|  Repligen Corp. | 1343 | 248858 | 9.8 |
|  RingCentral, Inc., Class A | 2518 | 98278 | 3.9 |
|  ROBLOX Corp., Class A | 1157 | 43052 | 1.7 |
|  RPM International, Inc. | 4162 | 374205 | 14.8 |
|  Saia, Inc. | 478 | 130389 | 5.1 |
|  SBA Communications Corp., Class A | 328 | 97590 | 3.9 |
|  Schlumberger Ltd. | 1353 | 77094 | 3.0 |
|  Scotts Miracle-Gro Co. | 6042 | 436172 | 17.2 |
|  SEI Investments Co. | 1144 | 71420 | 2.8 |
|  Sherwin-Williams Co. | 314 | 74289 | 2.9 |
|  Sims Ltd. | 9552 | 103715 | 4.1 |
|  Stanley Black & Decker, Inc. | 4954 | 442442 | 17.5 |
|  Stryker Corp. | 2475 | 628180 | 24.8 |

---

S C H E D U L E O F I N V E S T M E N T S 90

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Synchrony Financial | 7885 | $289616 | 11.4% |
|  T Rowe Price Group, Inc. | 5889 | 685892 | 27.1 |
|  Take-Two Interactive Software, Inc. | 2199 | 248993 | 9.8 |
|  Tapestry, Inc. | 1848 | 84213 | 3.3 |
|  Target Corp. | 5147 | 886005 | 34.9 |
|  Teleflex, Inc. | 630 | 153355 | 6.1 |
|  Tempur Sealy International, Inc. | 9331 | 380238 | 15.0 |
|  Textron, Inc. | 3708 | 270128 | 10.7 |
|  Thermo Fisher Scientific, Inc. | 168 | 95815 | 3.8 |
|  Timken Co. | 580 | 47763 | 1.9 |
|  Toro Co. | 1789 | 199509 | 7.9 |
|  Tractor Supply Co. | 289 | 65889 | 2.6 |
|  Transocean Ltd. | 4423 | 29811 | 1.2 |
|  Trimble, Inc. | 4547 | 263999 | 10.4 |
|  Tyler Technologies, Inc. | 327 | 105546 | 4.2 |
|  U.S. Bancorp | 1292 | 64342 | 2.5 |
|  UGI Corp. | 3016 | 120127 | 4.7 |
|  Umpqua Holdings Corp. | 4611 | 83920 | 3.3 |
|  Union Pacific Corp. | 7080 | 1445665 | 57.0 |
|  United Parcel Service, Inc., Class B | 1176 | 208117 | 8.2 |
|  Vail Resorts, Inc. | 914 | 239779 | 9.5 |
|  Veeva Systems, Inc., Class A | 1349 | 230072 | 9.1 |
|  VeriSign, Inc. | 541 | 117965 | 4.7 |
|  Verisk Analytics, Inc., Class A | 158 | 28723 | 1.1 |
|  VF Corp. | 19872 | 614840 | 24.3 |
|  Vulcan Materials Co. | 1943 | 356210 | 14.1 |
|  Walmart, Inc. | 9410 | 1353817 | 53.4 |
|  Waters Corp. | 463 | 152133 | 6.0 |
|  Weyerhaeuser Co. | 3618 | 124568 | 4.9 |
|  Williams Cos., Inc. | 2591 | 83534 | 3.3 |
|  Workday, Inc., Class A | 694 | 125912 | 5.0 |
|  Wynn Resorts Ltd. | 7858 | 814403 | 32.1 |
|  YETI Holdings, Inc. | 529 | 23678 | 0.9 |
|  Yum! Brands, Inc. | 3482 | 454436 | 17.9 |
|  Zoetis, Inc. | 1369 | 226556 | 8.9 |
|  |  | 71976943 |  |
| **Preferred Stocks** |  |  |  |
| **Germany** |  |  |  |
|  Bayerische Motoren Werke AG | 3703 | 350818 | 13.9 |
|  Fuchs Petrolub SE | 830 | 33112 | 1.3 |
| **Rights** |  |  |  |
| **Spain** |  |  |  |
|  ACS Actividades de Construccion y Servicios SA, (Expires 02/17/23) | 6842 | 3472 | 0.1 |
| **Warrants** |  |  |  |
| **Australia** |  |  |  |
|  Magellan Financial Group Ltd.,<br>(Issued/Exercisable 04/14/22, 1 Share for 1 Warrant, Expires 04/16/27, Strike Price AUD 35.00) | 3393 | 635 | 0.0 |
|  **Total Reference Entity — Long** | **Total Reference Entity — Long** | &nbsp;&nbsp;&nbsp;&nbsp;416548188 |  |
|  **Reference Entity — Short** |  |  |  |
| **Common Stocks** |  |  |  |
| **Australia** |  |  |  |
|  ALS Ltd. | (7442) | (69047) | (2.7) |
|  Ampol Ltd. | (7306) | (158437) | (6.2) |
|  APA Group | (3125) | (23387) | (0.9) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Australia (continued)** | **Australia (continued)** | **Australia (continued)** | **Australia (continued)** |
|  Cochlear Ltd. | (168) | $(25381) | (1.0)% |
|  Core Lithium Ltd. | (11637) | (9704) | (0.4) |
|  EBOS Group Ltd. | (31157) | (868558) | (34.3) |
|  Evolution Mining Ltd. | (37667) | (85595) | (3.4) |
|  Glencore PLC | (44511) | (298085) | (11.8) |
|  Goodman Group | (51085) | (728655) | (28.7) |
|  Ramsay Health Care Ltd. | (3247) | (153433) | (6.1) |
|  Reece Ltd. | (3360) | (38619) | (1.5) |
|  Woodside Energy Group Ltd. | (2392) | (61938) | (2.4) |
|  |  | (2520839) |  |
| **Austria** |  |  |  |
|  OMV AG | (18864) | (944902) | (37.3) |
| **Belgium** |  |  |  |
|  D'ieteren Group | (10666) | (2038436) | (80.4) |
|  Elia Group SA | (4304) | (604360) | (23.8) |
|  Galapagos NV | (10221) | (452365) | (17.8) |
|  Groupe Bruxelles Lambert NV | (551) | (46975) | (1.9) |
|  Proximus SADP | (59748) | (612245) | (24.1) |
|  UCB SA | (29292) | (2405008) | (94.9) |
|  |  | (6159389) |  |
| **Bermuda** |  |  |  |
|  RenaissanceRe Holdings Ltd. | (161) | (31506) | (1.2) |
| **Brazil** |  |  |  |
|  MercadoLibre, Inc. | (437) | (516399) | (20.4) |
|  Yara International ASA | (15744) | (699526) | (27.6) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1215925) |  |
| **Canada** |  |  |  |
|  Canadian Solar, Inc. | (3906) | (164325) | (6.5) |
|  Paramount Resources Ltd., Class A | (593) | (13709) | (0.5) |
|  |  | (178034) |  |
| **Denmark** |  |  |  |
|  AP Moller - Maersk A/S, Class B | (127) | (276262) | (10.9) |
|  Bavarian Nordic A/S | (655) | (20975) | (0.8) |
|  Danske Bank A/S | (35123) | (731738) | (28.9) |
|  DSV A/S | (5739) | (949403) | (37.5) |
|  GN Store Nord AS | (12385) | (305368) | (12.0) |
|  ISS A/S | (14977) | (327453) | (12.9) |
|  Orsted A/S | (3415) | (304113) | (12.0) |
|  Pandora A/S | (281) | (23243) | (0.9) |
|  Tryg A/S | (4232) | (97116) | (3.8) |
|  Vestas Wind Systems A/S | (10284) | (300926) | (11.9) |
|  |  | (3336597) |  |
| **Finland** |  |  |  |
|  Elisa OYJ | (15247) | (868669) | (34.3) |
|  Fortum OYJ | (34326) | (515997) | (20.3) |
|  Kesko OYJ, B Shares | (64221) | (1495931) | (59.0) |
|  Kojamo OYJ | (30580) | (469544) | (18.5) |
|  Nordea Bank Abp | (235463) | (2752653) | (108.6) |
|  Sampo OYJ, A Shares | (378) | (19795) | (0.8) |
|  Stora Enso OYJ, R Shares | (19742) | (282219) | (11.1) |
|  UPM-Kymmene OYJ | (25043) | (907714) | (35.8) |
|  |  | (7312522) |  |
| **France** |  |  |  |
|  Air France-KLM | (38503) | (65089) | (2.6) |
|  Airbus SE | (14653) | (1836986) | (72.5) |
|  Amundi SA | (26159) | (1712629) | (67.6) |
|  AXA SA | (16973) | (529541) | (20.9) |

---

91.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **France (continued)** | **France (continued)** | **France (continued)** | **France (continued)** |
|  BioMerieux | (19205) | $(1957871) | (77.2)% |
|  BNP Paribas SA | (8981) | (616832) | (24.3) |
|  Bollore SE | (433098) | (2423345) | (95.6) |
|  Cie de L'Odet SE | (13) | (20188) | (0.8) |
|  Constellium SE, Class A | (1267) | (18409) | (0.7) |
|  Credit Agricole SA | (26873) | (322417) | (12.7) |
|  Elis SA | (30054) | (527848) | (20.8) |
|  Eramet SA | (7171) | (716692) | (28.3) |
|  EssilorLuxottica SA | (11019) | (2021759) | (79.7) |
|  Eurazeo SE | (3887) | (272662) | (10.8) |
|  Ipsen SA | (12473) | (1310101) | (51.7) |
|  La Francaise des Jeux SAEM | (54629) | (2337465) | (92.2) |
|  L'Oreal SA | (6223) | (2569549) | (101.3) |
|  Publicis Groupe SA | (935) | (65955) | (2.6) |
|  Safran SA | (3707) | (533050) | (21.0) |
|  Sanofi | (15321) | (1500300) | (59.2) |
|  Sartorius Stedim Biotech | (1201) | (418943) | (16.5) |
|  Sodexo SA | (4096) | (406048) | (16.0) |
|  Somfy SA | (6424) | (998555) | (39.4) |
|  Teleperformance | (331) | (91761) | (3.6) |
|  Thales SA | (1847) | (244283) | (9.6) |
|  TotalEnergies SE | (9966) | (617352) | (24.3) |
|  Unibail-Rodamco-Westfield | (32074) | (2075678) | (81.9) |
|  Vallourec SA | (5721) | (83509) | (3.3) |
|  Veolia Environnement SA | (38183) | (1133365) | (44.7) |
|  Worldline SA | (938) | (42553) | (1.7) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27470735) |  |
| **Germany** |  |  |  |
|  Aurubis AG | (2524) | (266930) | (10.5) |
|  Bayer AG, Registered Shares | (16264) | (1012352) | (39.9) |
|  Bechtle AG | (14164) | (596882) | (23.5) |
|  Brenntag SE | (1278) | (95400) | (3.8) |
|  Carl Zeiss Meditec AG | (706) | (101275) | (4.0) |
|  Continental AG | (8617) | (605044) | (23.9) |
|  CTS Eventim AG & Co. KGaA | (12367) | (868123) | (34.2) |
|  Delivery Hero SE | (16350) | (988470) | (39.0) |
|  Deutsche Boerse AG | (11165) | (1997891) | (78.8) |
|  Deutsche Post AG, Registered Shares | (5167) | (222474) | (8.8) |
|  Deutsche Wohnen SE | (13233) | (312555) | (12.3) |
|  Evotec SE | (25904) | (509352) | (20.1) |
|  Fresenius Medical Care AG & Co. KGaA | (90967) | (3416235) | (134.7) |
|  Fresenius SE & Co. KGaA | (35735) | (1035631) | (40.9) |
|  GEA Group AG | (6227) | (280962) | (11.1) |
|  Gerresheimer AG | (2123) | (157005) | (6.2) |
|  Hannover Rueck SE | (1066) | (216471) | (8.5) |
|  HelloFresh SE | (14224) | (345804) | (13.6) |
|  HOCHTIEF AG | (2886) | (182968) | (7.2) |
|  HUGO BOSS AG | (14095) | (957194) | (37.8) |
|  Infineon Technologies AG | (6802) | (244943) | (9.7) |
|  KION Group AG | (4947) | (199198) | (7.9) |
|  MTU Aero Engines AG | (890) | (222422) | (8.8) |
|  Muenchener Rueckversicherungs-Gesellschaft |  |  |  |
|  AG in Muenchen, Registered Shares | (4692) | (1694785) | (66.8) |
|  Nordex SE | (17970) | (273086) | (10.8) |
|  Rational AG | (178) | (117085) | (4.6) |
|  RWE AG | (2741) | (122026) | (4.8) |
|  Siemens Healthineers AG | (30105) | (1614491) | (63.7) |
|  Sixt SE | (5239) | (651369) | (25.7) |
|  Symrise AG, Class A | (16646) | (1769631) | (69.8) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Germany (continued)** | **Germany (continued)** | **Germany (continued)** | **Germany (continued)** |
|  Telefonica Deutschland Holding AG | (156879) | $(462067) | (18.2)% |
|  Vantage Towers AG | (6734) | (246224) | (9.7) |
|  Vonovia SE | (123293) | (3482769) | (137.4) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(25269114) |  |
| **Hong Kong** |  |  |  |
|  ESR Group Ltd. | (76400) | (152959) | (6.0) |
|  Hang Seng Bank Ltd. | (39100) | (651141) | (25.7) |
|  Henderson Land Development Co. Ltd. | (12000) | (44328) | (1.7) |
|  HKT Trust & HKT Ltd., Class SS | (73000) | (95643) | (3.8) |
|  Hong Kong & China Gas Co. Ltd. | (376000) | (377511) | (14.9) |
|  MTR Corp. Ltd. | (300500) | (1608128) | (63.4) |
|  PCCW Ltd. | (40000) | (19654) | (0.8) |
|  Techtronic Industries Co. Ltd. | (282500) | (3641929) | (143.7) |
|  Wharf Real Estate Investment Co. Ltd. | (19000) | (108769) | (4.3) |
|  Xinyi Glass Holdings Ltd. | (11000) | (23420) | (0.9) |
|  |  | (6723482) |  |
| **Ireland** |  |  |  |
|  DCC PLC | (28760) | (1638109) | (64.6) |
|  ICON PLC, ADR | (509) | (117432) | (4.6) |
|  Jazz Pharmaceuticals PLC | (1103) | (172796) | (6.8) |
|  Smurfit Kappa Group PLC | (8725) | (366315) | (14.5) |
|  |  | (2294652) |  |
| **Isle of Man** |  |  |  |
|  Entain PLC | (143523) | (2646662) | (104.4) |
|  Israel |  |  |  |
|  Elco Ltd. | (271) | (12614) | (0.5) |
|  SolarEdge Technologies, Inc. | (690) | (220200) | (8.7) |
|  Teva Pharmaceutical Industries Ltd., ADR | (13708) | (144482) | (5.7) |
|  |  | (377296) |  |
| **Italy** |  |  |  |
|  Amplifon SpA | (472) | (13033) | (0.5) |
|  Assicurazioni Generali SpA | (93178) | (1818956) | (71.7) |
|  DiaSorin SpA | (601) | (78238) | (3.1) |
|  Eni SpA | (102323) | (1574569) | (62.1) |
|  Interpump Group SpA | (30025) | (1565801) | (61.8) |
|  Leonardo SpA | (30005) | (308996) | (12.2) |
|  Nexi SpA | (189554) | (1669466) | (65.9) |
|  Poste Italiane SpA | (1492) | (15941) | (0.6) |
|  |  | (7045000) |  |
| **Japan** |  |  |  |
|  Activia Properties, Inc. | (136) | (407272) | (16.1) |
|  Advance Residence Investment Corp. | (266) | (649774) | (25.6) |
|  Advantest Corp. | (8400) | (602120) | (23.8) |
|  Aica Kogyo Co. Ltd. | (2200) | (53203) | (2.1) |
|  Ajinomoto Co., Inc. | (1000) | (32969) | (1.3) |
|  Alps Alpine Co. Ltd. | (12500) | (128075) | (5.1) |
|  Asics Corp. | (45000) | (1071024) | (42.2) |
|  Bandai Namco Holdings, Inc. | (15900) | (1063292) | (41.9) |
|  Benefit One, Inc. | (32800) | (541365) | (21.4) |
|  BIPROGY, Inc. | (6900) | (180274) | (7.1) |
|  Bridgestone Corp. | (77500) | (2893322) | (114.1) |
|  Calbee, Inc. | (20600) | (465234) | (18.4) |
|  Capcom Co. Ltd. | (3300) | (106933) | (4.2) |
|  Casio Computer Co. Ltd. | (50400) | (520995) | (20.6) |
|  Central Japan Railway Co. | (700) | (85184) | (3.4) |
|  Chiba Bank Ltd. | (119600) | (904942) | (35.7) |
|  Chubu Electric Power Co., Inc. | (10200) | (109865) | (4.3) |

---

S C H E D U L E O F I N V E S T M E N T S 92

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---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
|  Chugin Financial Group, Inc. | (57500) | $(418407) | (16.5)% |
|  Credit Saison Co. Ltd. | (122700) | (1607550) | (63.4) |
|  Daido Steel Co. Ltd. | (22800) | (862073) | (34.0) |
|  Daito Trust Construction Co. Ltd. | (13500) | (1334050) | (52.6) |
|  Daiwa House REIT Investment Corp. | (158) | (343766) | (13.6) |
|  Daiwa Office Investment Corp. | (130) | (612170) | (24.1) |
|  Daiwa Securities Living Investments Corp. | (374) | (312928) | (12.3) |
|  Descente Ltd. | (30800) | (853203) | (33.7) |
|  Disco Corp. | (3200) | (961384) | (37.9) |
|  Electric Power Development Co. Ltd. | (26000) | (419602) | (16.6) |
|  ENEOS Holdings, Inc. | (27800) | (99529) | (3.9) |
|  Fancl Corp. | (1200) | (24369) | (1.0) |
|  FP Corp. | (36000) | (978289) | (38.6) |
|  Fuji Electric Co. Ltd. | (10000) | (404780) | (16.0) |
|  Fuji Kyuko Co. Ltd. | (5000) | (175653) | (6.9) |
|  Fujitsu General Ltd. | (22800) | (644464) | (25.4) |
|  Fukuoka Financial Group, Inc. | (44000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1015151) | (40.0) |
|  Furukawa Electric Co. Ltd. | (27000) | (524026) | (20.7) |
|  Fuyo General Lease Co. Ltd. | (1400) | (96219) | (3.8) |
|  GLP J-Reit | (604) | (683463) | (27.0) |
|  Goldwin, Inc. | (1600) | (121892) | (4.8) |
|  GS Yuasa Corp. | (17700) | (309733) | (12.2) |
|  GungHo Online Entertainment, Inc. | (1400) | (23332) | (0.9) |
|  Hakuhodo DY Holdings, Inc. | (67600) | (730576) | (28.8) |
|  Harmonic Drive Systems, Inc. | (7000) | (235766) | (9.3) |
|  Heiwa Corp. | (33400) | (606009) | (23.9) |
|  Hikari Tsushin, Inc. | (4300) | (613775) | (24.2) |
|  Hisamitsu Pharmaceutical Co., Inc. | (16900) | (526265) | (20.8) |
|  Hitachi Construction Machinery Co. Ltd. | (7900) | (186308) | (7.3) |
|  Hoshizaki Corp. | (106200) | (3817493) | (150.6) |
|  Hoya Corp. | (800) | (87978) | (3.5) |
|  Ibiden Co. Ltd. | (73000) | (2849109) | (112.4) |
|  Idemitsu Kosan Co. Ltd. | (132600) | (3315102) | (130.8) |
|  Iida Group Holdings Co. Ltd. | (73600) | (1226946) | (48.4) |
|  Industrial & Infrastructure Fund Investment Corp. | (731) | (810123) | (32.0) |
|  Inpex Corp. | (80600) | (885684) | (34.9) |
|  Isuzu Motors Ltd. | (208000) | (2630231) | (103.7) |
|  Ito En Ltd. | (8300) | (296142) | (11.7) |
|  ITOCHU Corp. | (31500) | (1018137) | (40.2) |
|  Itoham Yonekyu Holdings, Inc. | (8500) | (46669) | (1.8) |
|  Iwatani Corp. | (53400) | (2301603) | (90.8) |
|  Iyogin Holdings, Inc. | (59600) | (336369) | (13.3) |
|  Izumi Co. Ltd. | (73800) | (1670961) | (65.9) |
|  Japan Aviation Electronics Industry Ltd. | (53300) | (915681) | (36.1) |
|  Japan Hotel REIT Investment Corp. | (798) | (505682) | (19.9) |
|  Japan Logistics Fund, Inc. | (196) | (446927) | (17.6) |
|  Japan Post Holdings Co Ltd. | (46100) | (404733) | (16.0) |
|  Japan Post Insurance Co. Ltd. | (90700) | (1618084) | (63.8) |
|  Japan Prime Realty Investment Corp. | (23) | (62395) | (2.5) |
|  Japan Real Estate Investment Corp. | (555) | (2379557) | (93.9) |
|  Japan Tobacco, Inc. | (9000) | (183527) | (7.2) |
|  JCR Pharmaceuticals Co. Ltd. | (38000) | (468859) | (18.5) |
|  JFE Holdings, Inc. | (344000) | (4535863) | (178.9) |
|  JGC Holdings Corp. | (12800) | (167194) | (6.6) |
|  JMDC, Inc. | (40000) | (1321935) | (52.1) |
|  Justsystems Corp. | (6700) | (166862) | (6.6) |
|  Kagome Co. Ltd. | (13100) | (319960) | (12.6) |
|  Kajima Corp. | (57900) | (711086) | (28.0) |
|  Kansai Electric Power Co., Inc. | (59100) | (568370) | (22.4) |
|  Kansai Paint Co. Ltd. | (14700) | (207022) | (8.2) |
|  Katitas Co. Ltd. | (3500) | (85822) | (3.4) |
|  Kawasaki Heavy Industries Ltd. | (10600) | (242556) | (9.6) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
|  Keikyu Corp. | (11300) | $(117098) | (4.6)% |
|  Keisei Electric Railway Co. Ltd. | (13800) | (402532) | (15.9) |
|  Keyence Corp. | (4300) | (1979586) | (78.1) |
|  Kikkoman Corp. | (76800) | (4062113) | (160.2) |
|  Kintetsu Group Holdings Co. Ltd. | (13400) | (436371) | (17.2) |
|  Kobayashi Pharmaceutical Co. Ltd. | (5300) | (380498) | (15.0) |
|  Kobe Steel Ltd. | (453600) | (2443783) | (96.4) |
|  Kotobuki Spirits Co. Ltd. | (3500) | (229893) | (9.1) |
|  Kurita Water Industries Ltd. | (33000) | (1492202) | (58.9) |
|  Kyudenko Corp. | (15300) | (396570) | (15.6) |
|  Kyushu Electric Power Co., Inc. | (113400) | (652803) | (25.8) |
|  Kyushu Financial Group, Inc. | (14400) | (52927) | (2.1) |
|  Kyushu Railway Co. | (5400) | (121050) | (4.8) |
|  LaSalle Logiport REIT | (769) | (931723) | (36.8) |
|  Lasertec Corp. | (900) | (170391) | (6.7) |
|  Makita Corp. | (7700) | (205104) | (8.1) |
|  Marubeni Corp. | (140700) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1726189) | (68.1) |
|  Marui Group Co. Ltd. | (5200) | (88611) | (3.5) |
|  Mazda Motor Corp. | (54600) | (434615) | (17.1) |
|  Mebuki Financial Group, Inc. | (177500) | (462355) | (18.2) |
|  Menicon Co. Ltd. | (2000) | (44194) | (1.7) |
|  Mitsui & Co. Ltd. | (35200) | (1038496) | (41.0) |
|  Mitsui Fudosan Logistics Park, Inc. | (148) | (516529) | (20.4) |
|  Mitsui High-Tec, Inc. | (28700) | (1513422) | (59.7) |
|  Mitsui OSK Lines Ltd. | (17600) | (436809) | (17.2) |
|  Miura Co. Ltd. | (21500) | (538001) | (21.2) |
|  Money Forward, Inc. | (56900) | (2110049) | (83.2) |
|  MonotaRO Co. Ltd. | (62900) | (952831) | (37.6) |
|  Mori Hills REIT Investment Corp. | (89) | (101134) | (4.0) |
|  Morinaga & Co. Ltd. | (45500) | (1349113) | (53.2) |
|  Murata Manufacturing Co. Ltd. | (1700) | (97139) | (3.8) |
|  Nagase & Co. Ltd. | (30600) | (493803) | (19.5) |
|  Nextage Co. Ltd. | (28100) | (632057) | (24.9) |
|  NHK Spring Co. Ltd. | (181600) | (1283650) | (50.6) |
|  Nifco, Inc. | (41500) | (1077204) | (42.5) |
|  Nihon Kohden Corp. | (54200) | (1423888) | (56.2) |
|  Nikon Corp. | (1800) | (17772) | (0.7) |
|  Nippon Building Fund, Inc. | (488) | (2132737) | (84.1) |
|  Nippon Electric Glass Co. Ltd. | (56400) | (1047370) | (41.3) |
|  Nippon Kayaku Co. Ltd. | (27700) | (257226) | (10.1) |
|  Nippon Paint Holdings Co. Ltd. | (252900) | (2308844) | (91.1) |
|  Nippon Sanso Holdings Corp. | (56800) | (926457) | (36.5) |
|  Nippon Shokubai Co. Ltd. | (7100) | (300579) | (11.9) |
|  Nippon Steel Corp. | (120600) | (2510255) | (99.0) |
|  Nippon Yusen KK | (20500) | (487671) | (19.2) |
|  Nisshin Seifun Group, Inc. | (91600) | (1147335) | (45.3) |
|  Nitori Holdings Co. Ltd. | (4300) | (569129) | (22.4) |
|  Noevir Holdings Co. Ltd. | (2900) | (127701) | (5.0) |
|  NOF Corp. | (18900) | (805087) | (31.8) |
|  NOK Corp. | (22000) | (208941) | (8.2) |
|  Nomura Holdings, Inc. | (334900) | (1336529) | (52.7) |
|  OKUMA Corp. | (17300) | (701222) | (27.7) |
|  Open House Co. Ltd. | (7100) | (268595) | (10.6) |
|  OSG Corp. | (25500) | (400220) | (15.8) |
|  Pan Pacific International Holdings Corp. | (1700) | (31438) | (1.2) |
|  PeptiDream, Inc. | (32300) | (504312) | (19.9) |
|  Persol Holdings Co. Ltd. | (42900) | (940604) | (37.1) |
|  Rakus Co. Ltd. | (92400) | (1266302) | (49.9) |
|  Relo Group, Inc. | (50900) | (862572) | (34.0) |
|  Renesas Electronics Corp. | (76300) | (784829) | (31.0) |
|  Rengo Co. Ltd. | (3300) | (23291) | (0.9) |
|  Resonac Holdings Corp. | (67800) | (1158742) | (45.7) |

---

93.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Japan (continued)** | **Japan (continued)** | **Japan (continued)** | **Japan (continued)** |
|  Rinnai Corp. | (1300) | $(102609) | (4.0)% |
|  Rohto Pharmaceutical Co. Ltd. | (68800) | (1269458) | (50.1) |
|  Sankyu, Inc. | (11000) | (432209) | (17.0) |
|  Sanwa Holdings Corp. | (59000) | (624598) | (24.6) |
|  Seiko Epson Corp. | (43400) | (673047) | (26.5) |
|  Sekisui Chemical Co. Ltd. | (46900) | (656989) | (25.9) |
|  Sekisui House Ltd. | (33900) | (640685) | (25.3) |
|  Sekisui House REIT, Inc. | (53) | (28973) | (1.1) |
|  Seven & i Holdings Co. Ltd. | (26400) | (1246420) | (49.2) |
|  SG Holdings Co. Ltd. | (88300) | (1362585) | (53.7) |
|  SHIFT, Inc. | (4600) | (858524) | (33.9) |
|  Shikoku Electric Power Co., Inc. | (2600) | (15032) | (0.6) |
|  Shimano, Inc. | (25900) | (4618887) | (182.2) |
|  Shin-Etsu Chemical Co. Ltd. | (38300) | (5646301) | (222.7) |
|  Shinko Electric Industries Co. Ltd. | (71900) | (2022979) | (79.8) |
|  Shinsei Bank Ltd. | (64200) | (1184124) | (46.7) |
|  Ship Healthcare Holdings, Inc. | (7300) | (141746) | (5.6) |
|  Sojitz Corp. | (27100) | (537293) | (21.2) |
|  Sony Group Corp. | (23400) | (2090826) | (82.5) |
|  Sotetsu Holdings, Inc. | (36700) | (627417) | (24.7) |
|  Square Enix Holdings Co. Ltd. | (8100) | (383059) | (15.1) |
|  Stanley Electric Co. Ltd. | (8800) | (189387) | (7.5) |
|  SUMCO Corp. | (61500) | (911231) | (35.9) |
|  Sumitomo Metal Mining Co. Ltd. | (1400) | (56845) | (2.2) |
|  Suzuken Co. Ltd./Aichi Japan | (3500) | (92183) | (3.6) |
|  Suzuki Motor Corp. | (1300) | (48740) | (1.9) |
|  Taiheiyo Cement Corp. | (31000) | (534236) | (21.1) |
|  Taiyo Yuden Co. Ltd. | (47100) | (1599776) | (63.1) |
|  Takara Holdings, Inc. | (254500) | (2068100) | (81.6) |
|  Takashimaya Co. Ltd. | (86200) | (1204326) | (47.5) |
|  Takeda Pharmaceutical Co. Ltd. | (3000) | (94312) | (3.7) |
|  TechnoPro Holdings, Inc. | (7300) | (227287) | (9.0) |
|  TIS, Inc. | (17100) | (493084) | (19.5) |
|  Toho Gas Co. Ltd. | (25800) | (505983) | (20.0) |
|  Tokai Carbon Co. Ltd. | (263500) | (2273384) | (89.7) |
|  Tokio Marine Holdings, Inc. | (21900) | (458689) | (18.1) |
|  Tokyo Electric Power Co. Holdings, Inc. | (1070100) | (4007299) | (158.1) |
|  Tokyo Gas Co. Ltd. | (137600) | (2881302) | (113.6) |
|  Toshiba TEC Corp. | (600) | (17074) | (0.7) |
|  Toyo Suisan Kaisha Ltd. | (20900) | (863605) | (34.1) |
|  Toyota Industries Corp. | (1300) | (79134) | (3.1) |
|  Toyota Tsusho Corp. | (21900) | (927293) | (36.6) |
|  Unicharm Corp. | (38300) | (1460978) | (57.6) |
|  United Urban Investment Corp. | (152) | (172961) | (6.8) |
|  Visional, Inc. | (14000) | (1014419) | (40.0) |
|  West Japan Railway Co. | (32200) | (1348488) | (53.2) |
|  Yamaha Corp. | (54100) | (2103628) | (83.0) |
|  Yamaha Motor Co. Ltd. | (49000) | (1206903) | (47.6) |
|  Yokogawa Electric Corp. | (4900) | (86042) | (3.4) |
|  Yokohama Rubber Co. Ltd. | (17200) | (282576) | (11.1) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(166038756) |  |
| **Jersey** |  |  |  |
|  Novocure Ltd. | (1659) | (151268) | (6.0) |
| **Luxembourg** |  |  |  |
|  APERAM SA | (1452) | (57301) | (2.3) |
|  Aroundtown SA | (218389) | (608039) | (24.0) |
|  Eurofins Scientific SE | (33201) | (2381500) | (93.9) |
|  |  | (3046840) |  |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Netherlands** | **Netherlands** | **Netherlands** | **Netherlands** |
|  Aegon NV | (42524) | $(234554) | (9.3)% |
|  Akzo Nobel NV | (16210) | (1207401) | (47.6) |
|  Alfen NV | (2651) | (245955) | (9.7) |
|  Argenx SE | (147) | (55454) | (2.2) |
|  ASM International NV | (6294) | (2128668) | (84.0) |
|  BE Semiconductor Industries NV | (3773) | (269869) | (10.7) |
|  Euronext NV | (606) | (49105) | (1.9) |
|  EXOR NV | (1895) | (150631) | (5.9) |
|  IMCD NV | (6723) | (1065809) | (42.0) |
|  Just Eat Takeaway.com NV | (66422) | (1703962) | (67.2) |
|  Koninklijke Ahold Delhaize NV | (33924) | (1012528) | (39.9) |
|  NXP Semiconductors NV | (3963) | (730421) | (28.8) |
|  OCI NV | (1273) | (43334) | (1.7) |
|  SBM Offshore NV | (11050) | (173718) | (6.9) |
|  Stellantis NV | (174079) | (2736694) | (107.9) |
|  Universal Music Group NV | (26035) | (665516) | (26.3) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(12473619) |  |
| **New Zealand** |  |  |  |
|  Auckland International Airport Ltd. | (4281) | (23561) | (0.9) |
|  Mainfreight Ltd. | (14265) | (660254) | (26.0) |
|  Mercury NZ Ltd. | (8921) | (34657) | (1.4) |
|  Meridian Energy Ltd. | (135374) | (467880) | (18.5) |
|  |  | (1186352) |  |
| **Norway** |  |  |  |
|  Adevinta ASA | (67403) | (577835) | (22.8) |
|  Aker ASA, A Shares | (2859) | (206726) | (8.1) |
|  Leroy Seafood Group ASA | (6121) | (36046) | (1.4) |
|  Mowi ASA | (7790) | (144050) | (5.7) |
|  Norsk Hydro ASA | (49919) | (404736) | (16.0) |
|  Orkla ASA | (184744) | (1379246) | (54.4) |
|  Salmar ASA | (43330) | (2014830) | (79.5) |
|  Schibsted ASA, Class A | (33096) | (722779) | (28.5) |
|  Storebrand ASA | (86533) | (753318) | (29.7) |
|  |  | (6239566) |  |
| **Portugal** |  |  |  |
|  Banco Comercial Portugues SA | (8820099) | (1879112) | (74.1) |
| **Singapore** |  |  |  |
|  Kenon Holdings Ltd. | (2320) | (72300) | (2.9) |
| **South Africa** |  |  |  |
|  Investec PLC | (67687) | (431926) | (17.0) |
| **Spain** |  |  |  |
|  Aena SME SA | (2450) | (368110) | (14.5) |
|  Amadeus IT Group SA | (799) | (50340) | (2.0) |
|  Banco Santander SA | (247015) | (863302) | (34.0) |
|  CaixaBank SA | (5627) | (24967) | (1.0) |
|  Cellnex Telecom SA | (8380) | (328395) | (13.0) |
|  Corp. ACCIONA Energias Renovables SA | (1060) | (43348) | (1.7) |
|  Endesa SA | (20355) | (405812) | (16.0) |
|  Ferrovial SA | (177) | (5229) | (0.2) |
|  Naturgy Energy Group SA | (36762) | (1042652) | (41.1) |
|  Red Electrica Corp. SA | (4139) | (73256) | (2.9) |
|  |  | (3205411) |  |
| **Sweden** |  |  |  |
|  Alleima AB | (22902) | (114524) | (4.5) |
|  Assa Abloy AB, Class B | (5216) | (122869) | (4.8) |
|  Boliden AB | (11454) | (514021) | (20.3) |
|  Embracer Group AB, Class B | (37674) | (175603) | (6.9) |

---

S C H E D U L E O F I N V E S T M E N T S 94

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** | **Sweden (continued)** |
|  Evolution AB | (11391) | $(1280247) | (50.5)% |
|  Fastighets AB Balder, Class B | (183054) | (943138) | (37.2) |
|  Hexagon AB, B Shares | (77180) | (884753) | (34.9) |
|  Hexatronic Group AB | (27855) | (342852) | (13.5) |
|  Holmen AB | (20266) | (835883) | (33.0) |
|  Husqvarna AB, B Shares | (28240) | (240263) | (9.5) |
|  Indutrade AB | (1401) | (31112) | (1.2) |
|  Investment AB Latour, B Shares | (12887) | (271902) | (10.7) |
|  Kinnevik AB | (43744) | (676157) | (26.7) |
|  Lifco AB, B Shares | (3206) | (58895) | (2.3) |
|  Securitas AB, B Shares | (176879) | (1619072) | (63.9) |
|  Skandinaviska Enskilda Banken AB, Class A | (133165) | (1612070) | (63.6) |
|  Skanska AB, B Shares | (43572) | (769050) | (30.3) |
|  Svenska Cellulosa AB SCA, Class B | (42485) | (589961) | (23.3) |
|  Svenska Handelsbanken AB, A Shares | (43638) | (455058) | (18.0) |
|  Swedbank AB | (70906) | (1363977) | (53.8) |
|  Telefonaktiebolaget LM Ericsson, B Shares | (140546) | (815232) | (32.2) |
|  Telia Co. AB | (290780) | (750980) | (29.6) |
|  Vitrolife AB | (1954) | (41668) | (1.6) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14509287) |  |
| **Switzerland** |  |  |  |
|  Bachem Holding AG | (131) | (11585) | (0.5) |
|  Chubb Ltd. | (2991) | (680423) | (26.8) |
|  Coca-Cola HBC AG | (32146) | (781192) | (30.8) |
|  On Holding AG, Class A | (14597) | (338650) | (13.4) |
|  |  | (1811850) |  |
| **Thailand** |  |  |  |
|  Fabrinet | (2194) | (288862) | (11.4) |
| **United Kingdom** |  |  |  |
|  Allfunds Group PLC | (48688) | (387311) | (15.3) |
|  Anglo American PLC | (3931) | (169546) | (6.7) |
|  Aptiv PLC | (929) | (105061) | (4.1) |
|  Associated British Foods PLC | (164956) | (3786599) | (149.4) |
|  B&M European Value Retail SA | (31814) | (175941) | (6.9) |
|  BAE Systems PLC | (121613) | (1287400) | (50.8) |
|  Barratt Developments PLC | (70332) | (399748) | (15.8) |
|  Berkeley Group Holdings PLC | (22294) | (1141623) | (45.0) |
|  British Land Co. PLC | (36187) | (198047) | (7.8) |
|  Clarivate PLC | (4744) | (52753) | (2.1) |
|  CNH Industrial NV | (43100) | (762497) | (30.1) |
|  Coca-Cola Europacific Partners PLC | (1582) | (88940) | (3.5) |
|  DS Smith PLC | (205501) | (899664) | (35.5) |
|  Ferguson PLC | (13711) | (1931811) | (76.2) |
|  Future PLC | (29611) | (551380) | (21.8) |
|  Games Workshop Group PLC | (1972) | (228738) | (9.0) |
|  Greggs PLC, Registered Shares | (25349) | (846453) | (33.4) |
|  GSK PLC | (8410) | (147722) | (5.8) |
|  HSBC Holdings PLC | (59916) | (441482) | (17.4) |
|  Imperial Brands PLC | (30215) | (757980) | (29.9) |
|  Inchcape PLC | (47043) | (530397) | (20.9) |
|  Informa PLC | (18894) | (156268) | (6.2) |
|  International Consolidated Airlines Group SA | (40198) | (83654) | (3.3) |
|  International Distributions Services PLC | (353772) | (1001350) | (39.5) |
|  JD Sports Fashion PLC | (319321) | (643629) | (25.4) |
|  LXI REIT PLC | (452963) | (630496) | (24.9) |
|  M&G PLC | (970462) | (2423553) | (95.6) |
|  Mondi PLC | (7292) | (137511) | (5.4) |
|  National Grid PLC | (98210) | (1248533) | (49.2) |
|  Next PLC | (19518) | (1598020) | (63.0) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of*<br> *Basket<br>Value* |
| **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** | **United Kingdom (continued)** |
|  Noble Corp. PLC | (4955) | $(201619) | (8.0)% |
|  nVent Electric PLC | (26678) | (1060450) | (41.8) |
|  Ocado Group PLC | (90622) | (725192) | (28.6) |
|  Phoenix Group Holdings PLC | (123877) | (981834) | (38.7) |
|  Prudential PLC | (51794) | (860560) | (33.9) |
|  RELX PLC | (58427) | (1735802) | (68.5) |
|  Rentokil Initial PLC | (4802) | (29117) | (1.2) |
|  Rightmove PLC | (70649) | (513328) | (20.3) |
|  Tate & Lyle PLC | (144335) | (1344056) | (53.0) |
|  Taylor Wimpey PLC | (968776) | (1405617) | (55.4) |
|  Vistry Group PLC | (264685) | (2429428) | (95.8) |
|  Vodafone Group PLC | (52301) | (60346) | (2.4) |
|  Watches of Switzerland Group PLC | (1306) | (15331) | (0.6) |
|  Whitbread PLC | (125420) | (4723595) | (186.3) |
|  Wise PLC, Class A | (9209) | (61734) | (2.4) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38962116) |  |
| **United States** |  |  |  |
|  10X Genomics, Inc., Class A | (473) | (22151) | (0.9) |
|  AbbVie, Inc. | (1628) | (240537) | (9.5) |
|  Academy Sports & Outdoors, Inc. | (2170) | (126771) | (5.0) |
|  Adient PLC | (889) | (40023) | (1.6) |
|  ADT, Inc. | (120048) | (1055222) | (41.6) |
|  Affiliated Managers Group, Inc. | (594) | (102608) | (4.0) |
|  Aflac, Inc. | (2708) | (199038) | (7.9) |
|  AGCO Corp. | (5723) | (790518) | (31.2) |
|  agilon health, Inc. | (1536) | (33423) | (1.3) |
|  Alaska Air Group, Inc. | (1790) | (91899) | (3.6) |
|  Albemarle Corp. | (2237) | (629604) | (24.8) |
|  Albertsons Cos., Inc., Class A | (56005) | (1187306) | (46.8) |
|  Alexandria Real Estate Equities, Inc. | (3917) | (629619) | (24.8) |
|  Alight, Inc., Class A | (6952) | (65279) | (2.6) |
|  Allegheny Technologies, Inc. | (8087) | (294286) | (11.6) |
|  Alliant Energy Corp. | (4454) | (240650) | (9.5) |
|  Allison Transmission Holdings, Inc. | (1466) | (66087) | (2.6) |
|  Altria Group, Inc. | (340) | (15314) | (0.6) |
|  Amdocs Ltd. | (8053) | (740312) | (29.2) |
|  Ameren Corp. | (1118) | (97121) | (3.8) |
|  American Airlines Group, Inc. | (1286) | (20756) | (0.8) |
|  American Equity Investment Life Holding Co. | (613) | (29209) | (1.2) |
|  American Tower Corp. | (1551) | (346478) | (13.7) |
|  Ameriprise Financial, Inc. | (735) | (257338) | (10.2) |
|  AmerisourceBergen Corp. | (7078) | (1195899) | (47.2) |
|  Amkor Technology, Inc. | (14594) | (427020) | (16.8) |
|  Antero Midstream Corp. | (3422) | (37300) | (1.5) |
|  Apartment Income REIT Corp. | (1210) | (46295) | (1.8) |
|  AptarGroup, Inc. | (1893) | (218907) | (8.6) |
|  Aramark | (2439) | (108609) | (4.3) |
|  Arista Networks, Inc. | (2213) | (278882) | (11.0) |
|  Asbury Automotive Group, Inc. | (563) | (123860) | (4.9) |
|  Atkore, Inc. | (747) | (97297) | (3.8) |
|  Atmos Energy Corp. | (6147) | (722518) | (28.5) |
|  Automatic Data Processing, Inc. | (1576) | (355877) | (14.0) |
|  Avangrid, Inc. | (12233) | (515866) | (20.4) |
|  Axalta Coating Systems Ltd. | (3617) | (108872) | (4.3) |
|  Ball Corp. | (376) | (21898) | (0.9) |
|  Beam Therapeutics, Inc. | (1535) | (66696) | (2.6) |
|  BJ's Wholesale Club Holdings, Inc. | (8292) | (600921) | (23.7) |
|  Block, Inc. | (4343) | (354910) | (14.0) |
|  Bloom Energy Corp., Class A | (1272) | (31711) | (1.3) |
|  Booking Holdings, Inc. | (147) | (357813) | (14.1) |
|  Boston Properties, Inc. | (2302) | (171591) | (6.8) |

---

95.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Bunge Ltd. | (5073) | $(502734) | (19.8)% |
|  Cactus, Inc., Class A | (864) | (46751) | (1.8) |
|  Cadence Design Systems, Inc. | (300) | (54849) | (2.2) |
|  Caesars Entertainment, Inc. | (2279) | (118645) | (4.7) |
|  Caterpillar, Inc. | (6883) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1736512) | (68.5) |
|  CDW Corp. | (4071) | (798038) | (31.5) |
|  Celanese Corp., Class A | (3060) | (376992) | (14.9) |
|  Celsius Holdings, Inc. | (353) | (35413) | (1.4) |
|  CenterPoint Energy, Inc. | (5479) | (165027) | (6.5) |
|  Ceridian HCM Holding, Inc. | (2804) | (202673) | (8.0) |
|  Chesapeake Energy Corp. | (1998) | (173267) | (6.8) |
|  Choice Hotels International, Inc. | (1365) | (167745) | (6.6) |
|  Chord Energy Corp. | (832) | (119251) | (4.7) |
|  Citizens Financial Group, Inc. | (902) | (39075) | (1.5) |
|  Civitas Resources, Inc. | (5990) | (398634) | (15.7) |
|  Clear Secure, Inc., Class A | (2875) | (90246) | (3.6) |
|  Cloudflare, Inc., Class A | (3415) | (180688) | (7.1) |
|  Coherent Corp. | (1574) | (68312) | (2.7) |
|  Commerce Bancshares, Inc. | (6468) | (430510) | (17.0) |
|  Concentrix Corp. | (3160) | (448120) | (17.7) |
|  Confluent, Inc., Class A | (5109) | (118018) | (4.7) |
|  Consolidated Edison, Inc. | (1684) | (160502) | (6.3) |
|  Cooper Cos., Inc. | (1384) | (482919) | (19.1) |
|  Copart, Inc. | (9398) | (626001) | (24.7) |
|  Corning, Inc. | (9331) | (322946) | (12.7) |
|  Corteva, Inc. | (8466) | (545634) | (21.5) |
|  Crane Holdings Co. | (912) | (105710) | (4.2) |
|  Crowdstrike Holdings, Inc., Class A | (893) | (94569) | (3.7) |
|  CubeSmart | (1717) | (78621) | (3.1) |
|  Cullen/Frost Bankers, Inc. | (3700) | (482036) | (19.0) |
|  Darden Restaurants, Inc. | (233) | (34477) | (1.4) |
|  Datadog, Inc., Class A | (1077) | (80570) | (3.2) |
|  Deere & Co. | (45) | (19028) | (0.8) |
|  Denbury, Inc. | (1618) | (140410) | (5.5) |
|  Diamondback Energy, Inc. | (227) | (33169) | (1.3) |
|  Diodes, Inc. | (436) | (38887) | (1.5) |
|  DoorDash, Inc., Class A | (15814) | (915947) | (36.1) |
|  DTE Energy Co. | (1063) | (123701) | (4.9) |
|  Duolingo, Inc. | (750) | (71618) | (2.8) |
|  East West Bancorp, Inc. | (990) | (77735) | (3.1) |
|  EastGroup Properties, Inc. | (2332) | (392359) | (15.5) |
|  Edison International | (3739) | (257617) | (10.2) |
|  Elanco Animal Health, Inc. | (5599) | (76874) | (3.0) |
|  Elastic NV | (1115) | (65607) | (2.6) |
|  EMCOR Group, Inc. | (490) | (72642) | (2.9) |
|  Ensign Group, Inc. | (513) | (47837) | (1.9) |
|  Entergy Corp. | (890) | (96369) | (3.8) |
|  EQT Corp. | (1216) | (39727) | (1.6) |
|  Equifax, Inc. | (3252) | (722594) | (28.5) |
|  Equitable Holdings, Inc. | (6105) | (195787) | (7.7) |
|  Estee Lauder Cos., Inc., Class A | (5947) | (1647795) | (65.0) |
|  Euronet Worldwide, Inc. | (1283) | (144568) | (5.7) |
|  Fastenal Co. | (25946) | (1311570) | (51.7) |
|  Federal Realty Investment Trust | (4645) | (518057) | (20.4) |
|  Fidelity National Financial, Inc. | (5821) | (256299) | (10.1) |
|  First Republic Bank | (984) | (138626) | (5.5) |
|  FirstEnergy Corp. | (4172) | (170843) | (6.7) |
|  FMC Corp. | (2409) | (320710) | (12.7) |
|  FNB Corp. | (6938) | (99005) | (3.9) |
|  Fortive Corp. | (5306) | (360967) | (14.2) |
|  Freeport-McMoRan, Inc. | (13636) | (608438) | (24.0) |
|  Frontier Communications Parent, Inc. | (10041) | (297314) | (11.7) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** | **United States (continued)** | **United States (continued)** | **United States (continued)** |
|  Gaming and Leisure Properties, Inc. | (2363) | $(126562) | (5.0)% |
|  GE Healthcare, Inc. | (37937) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2637380) | (104.0) |
|  Genuine Parts Co. | (2449) | (410991) | (16.2) |
|  Graphic Packaging Holding Co. | (9992) | (240707) | (9.5) |
|  GXO Logistics, Inc. | (2013) | (105340) | (4.2) |
|  Haemonetics Corp. | (3235) | (273681) | (10.8) |
|  Hancock Whitney Corp. | (1151) | (59253) | (2.3) |
|  Healthcare Realty Trust, Inc., Class A | (1189) | (25599) | (1.0) |
|  Healthpeak Properties, Inc. | (1011) | (27782) | (1.1) |
|  Hershey Co. | (608) | (136557) | (5.4) |
|  Hertz Global Holdings, Inc. | (11925) | (214888) | (8.5) |
|  Hess Corp. | (9297) | (1396038) | (55.1) |
|  Honeywell International, Inc. | (719) | (149897) | (5.9) |
|  Host Hotels & Resorts, Inc. | (6189) | (116663) | (4.6) |
|  Howmet Aerospace Inc. | (16111) | (655557) | (25.9) |
|  Hubbell, Inc., Class B | (503) | (115142) | (4.5) |
|  Hyatt Hotels Corp., Class A | (6887) | (751509) | (29.6) |
|  IAA, Inc. | (1303) | (73619) | (2.9) |
|  IDEX Corp. | (600) | (143808) | (5.7) |
|  Ingersoll Rand, Inc. | (898) | (50288) | (2.0) |
|  Ingredion, Inc. | (384) | (39475) | (1.6) |
|  Inspire Medical Systems, Inc. | (151) | (38212) | (1.5) |
|  Intellia Therapeutics, Inc. | (336) | (14260) | (0.6) |
|  Intercontinental Exchange, Inc. | (684) | (73564) | (2.9) |
|  Interpublic Group of Cos., Inc. | (12587) | (458922) | (18.1) |
|  Intra-Cellular Therapies, Inc. | (750) | (35940) | (1.4) |
|  iRhythm Technologies, Inc. | (153) | (15040) | (0.6) |
|  Keurig Dr Pepper, Inc. | (7445) | (262660) | (10.4) |
|  Kinsale Capital Group, Inc. | (77) | (21440) | (0.8) |
|  Kraft Heinz Co. | (2827) | (114578) | (4.5) |
|  Lamb Weston Holdings, Inc. | (4646) | (464089) | (18.3) |
|  Lancaster Colony Corp. | (5593) | (1073353) | (42.3) |
|  Lantheus Holdings, Inc. | (473) | (27198) | (1.1) |
|  Lattice Semiconductor Corp. | (1714) | (129904) | (5.1) |
|  Leggett & Platt, Inc. | (2110) | (77142) | (3.0) |
|  Levi Strauss & Co., Class A | (12849) | (236422) | (9.3) |
|  Liberty Media Corp.-Liberty Formula One, Class C | (4070) | (288156) | (11.4) |
|  Lincoln Electric Holdings, Inc. | (3397) | (566857) | (22.4) |
|  Lithia Motors, Inc., Class A | (601) | (158183) | (6.2) |
|  Littelfuse, Inc. | (76) | (19508) | (0.8) |
|  Live Nation Entertainment, Inc. | (1078) | (86768) | (3.4) |
|  Loews Corp. | (2708) | (166488) | (6.6) |
|  Madison Square Garden Sports Corp. | (2617) | (475875) | (18.8) |
|  MarketAxess Holdings, Inc. | (114) | (41479) | (1.6) |
|  Medpace Holdings, Inc. | (1095) | (242072) | (9.6) |
|  Merck & Co., Inc. | (1946) | (209020) | (8.2) |
|  Microchip Technology, Inc. | (1151) | (89341) | (3.5) |
|  Mid-America Apartment Communities, Inc. | (1101) | (183559) | (7.2) |
|  MKS Instruments, Inc. | (2619) | (267976) | (10.6) |
|  Moderna, Inc. | (89) | (15669) | (0.6) |
|  Molina Healthcare, Inc. | (2103) | (655778) | (25.9) |
|  MongoDB, Inc., Class A | (1181) | (252982) | (10.0) |
|  MP Materials Corp. | (24846) | (807743) | (31.9) |
|  MSCI, Inc., Class A | (79) | (41993) | (1.7) |
|  Murphy Oil Corp. | (4321) | (188439) | (7.4) |
|  Murphy USA, Inc. | (831) | (226057) | (8.9) |
|  National Retail Properties, Inc. | (12694) | (601061) | (23.7) |
|  NCR Corp. | (676) | (18536) | (0.7) |
|  New Jersey Resources Corp. | (2444) | (122004) | (4.8) |
|  New York Times Co., Class A | (806) | (28081) | (1.1) |
|  Newell Brands, Inc. | (14141) | (225690) | (8.9) |

---

S C H E D U L E O F I N V E S T M E N T S 96

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  NextEra Energy, Inc. | (5821) | $(434421) | (17.1)% |
|  Norwegian Cruise Line Holdings Ltd. | (5399) | (82119) | (3.2) |
|  Novanta, Inc. | (212) | (34232) | (1.4) |
|  Nutanix, Inc., Class A | (783) | (21822) | (0.9) |
|  Oak Street Health, Inc. | (2489) | (72330) | (2.9) |
|  OGE Energy Corp. | (4721) | (185630) | (7.3) |
|  Old National Bancorp | (60291) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1055092) | (41.6) |
|  Old Republic International Corp. | (3337) | (88063) | (3.5) |
|  Omnicom Group, Inc. | (3097) | (266311) | (10.5) |
|  ON Semiconductor Corp. | (5663) | (415947) | (16.4) |
|  ONE Gas, Inc. | (4409) | (363125) | (14.3) |
|  ONEOK, Inc. | (2941) | (201400) | (7.9) |
|  Option Care Health, Inc. | (460) | (13280) | (0.5) |
|  Organon & Co. | (10087) | (303921) | (12.0) |
|  PACCAR, Inc. | (441) | (48206) | (1.9) |
|  Packaging Corp. of America | (368) | (52514) | (2.1) |
|  Palo Alto Networks, Inc. | (2956) | (468940) | (18.5) |
|  Parker-Hannifin Corp. | (257) | (83782) | (3.3) |
|  Paychex, Inc. | (154) | (17842) | (0.7) |
|  Penumbra, Inc. | (109) | (27295) | (1.1) |
|  Performance Food Group Co. | (7698) | (472041) | (18.6) |
|  Permian Resources Corp., Class A | (13572) | (147528) | (5.8) |
|  Phillips 66 | (4707) | (471971) | (18.6) |
|  PNC Financial Services Group Inc/The | (6546) | (1082905) | (42.7) |
|  Principal Financial Group, Inc. | (209) | (19343) | (0.8) |
|  Privia Health Group, Inc. | (9966) | (269481) | (10.6) |
|  Progyny, Inc. | (8582) | (295135) | (11.6) |
|  Prometheus Biosciences, Inc. | (2734) | (310746) | (12.3) |
|  PTC, Inc. | (342) | (46129) | (1.8) |
|  Public Storage | (1416) | (430945) | (17.0) |
|  Pure Storage, Inc., Class A | (1331) | (38519) | (1.5) |
|  Qualtrics International, Inc., Class A | (1801) | (28402) | (1.1) |
|  Radian Group, Inc. | (1751) | (38697) | (1.5) |
|  Raymond James Financial, Inc. | (1864) | (210203) | (8.3) |
|  Raytheon Technologies Corp. | (4606) | (459909) | (18.1) |
|  RBC Bearings, Inc. | (484) | (118081) | (4.7) |
|  Realty Income Corp. | (647) | (43886) | (1.7) |
|  Regency Centers Corp., Registered Shares | (5523) | (367997) | (14.5) |
|  Regions Financial Corp., Registered Shares | (9375) | (220687) | (8.7) |
|  Rexford Industrial Realty, Inc. | (12314) | (781570) | (30.8) |
|  RH | (44) | (13728) | (0.5) |
|  Rivian Automotive, Inc., Class A | (5553) | (107728) | (4.3) |
|  Robinhood Markets, Inc., Class A | (31302) | (325854) | (12.9) |
|  Rollins, Inc. | (714) | (25990) | (1.0) |
|  Ryan Specialty Holdings, Inc. | (9520) | (405742) | (16.0) |
|  Ryman Hospitality Properties, Inc. | (2773) | (257584) | (10.2) |
|  Science Applications International Corp. | (577) | (59881) | (2.4) |
|  Seagate Technology Holdings PLC | (2924) | (198189) | (7.8) |
|  Sealed Air Corp. | (1270) | (69545) | (2.7) |
|  Sempra Energy | (2600) | (416858) | (16.4) |
|  Shockwave Medical, Inc. | (1002) | (188306) | (7.4) |
|  Silgan Holdings, Inc. | (614) | (33088) | (1.3) |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Value* | *% of<br>Basket<br>Value* |
| **United States (continued)** |  |  |  |
|  Skyworks Solutions, Inc. | (911) | $(99909) | (3.9)% |
|  South State Corp. | (821) | (65352) | (2.6) |
|  SPS Commerce, Inc. | (235) | (31979) | (1.3) |
|  SS&C Technologies Holdings, Inc. | (3664) | (221122) | (8.7) |
|  Starwood Property Trust, Inc. | (3352) | (70023) | (2.8) |
|  State Street Corp. | (2191) | (200104) | (7.9) |
|  SunPower Corp. | (4149) | (72317) | (2.9) |
|  Super Micro Computer, Inc. | (1863) | (134751) | (5.3) |
|  Surgery Partners, Inc. | (8829) | (293123) | (11.6) |
|  Synaptics, Inc. | (969) | (121154) | (4.8) |
|  Texas Roadhouse, Inc., Class A | (591) | (59354) | (2.3) |
|  Toast, Inc., Class A | (11012) | (245678) | (9.7) |
|  Trade Desk, Inc., Class A | (2671) | (135420) | (5.3) |
|  Tradeweb Markets, Inc., Class A | (1392) | (103760) | (4.1) |
|  TripAdvisor, Inc. | (11923) | (277806) | (11.0) |
|  Twilio, Inc., Class A | (544) | (32553) | (1.3) |
|  Uber Technologies, Inc. | (15807) | (488911) | (19.3) |
|  UFP Industries, Inc. | (818) | (76524) | (3.0) |
|  U-Haul Holding Co. | (624) | (38557) | (1.5) |
|  UiPath, Inc., Class A | (28946) | (444611) | (17.5) |
|  United Airlines Holdings, Inc. | (15485) | (758146) | (29.9) |
|  Valaris Ltd. | (1189) | (86369) | (3.4) |
|  Valvoline, Inc. | (18751) | (687412) | (27.1) |
|  Ventas, Inc. | (4603) | (238481) | (9.4) |
|  Vertiv Holdings Co., Class A | (13066) | (185799) | (7.3) |
|  Vontier Corp. | (4755) | (109508) | (4.3) |
|  Walt Disney Co. | (1047) | (113589) | (4.5) |
|  WEC Energy Group, Inc. | (1413) | (132808) | (5.2) |
|  Welltower, Inc. | (11033) | (827916) | (32.7) |
|  WESCO International, Inc. | (1148) | (171063) | (6.8) |
|  Western Alliance Bancorp | (310) | (23365) | (0.9) |
|  WEX, Inc. | (236) | (43653) | (1.7) |
|  WillScot Mobile Mini Holdings Corp. | (2424) | (117467) | (4.6) |
|  Wolfspeed, Inc. | (5327) | (410232) | (16.2) |
|  Workiva, Inc., Class A | (184) | (15922) | (0.6) |
|  WW Grainger, Inc. | (378) | (222823) | (8.8) |
|  Wyndham Hotels & Resorts, Inc. | (214) | (16587) | (0.7) |
|  Xcel Energy, Inc. | (4556) | (313316) | (12.4) |
|  Zebra Technologies Corp., Class A | (895) | (282981) | (11.2) |
|  Zscaler, Inc. | (1873) | (232552) | (9.2) |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(68880588) |  |
|  **Uruguay** | **Uruguay** | **Uruguay** | **Uruguay** |
|  Globant SA | (159) | (25787) | (1.0) |
| **Preferred Stocks** |  |  |  |
| **Germany** |  |  |  |
|  Henkel AG & Co. KGaA | (17767) | (1266792) | (50.0) |
|  Volkswagen AG | (114) | (15811) | (0.6) |
|  **Total Reference Entity — Short** | **Total Reference Entity — Short** | (414012898) |  |
|  **Net Value of Reference Entity — UBS AG** | **Net Value of Reference Entity — UBS AG** | $2535290 |  |

---

97.0 ------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

**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:

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

&nbsp;&nbsp;&nbsp;&nbsp;• 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

&nbsp;&nbsp;&nbsp;&nbsp;• 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 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netherlands | $— | $433949 | $— | $433949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | 31 |  |  | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks |  |  | 3159770 | 3159770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants | 736 |  |  | 736 |
| &nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | 12636000 |  |  | 12636000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Obligations |  | 642207162 |  | 642207162 |
| &nbsp;&nbsp;&nbsp;&nbsp; Options Purchased |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | 1037750 |  |  | 1037750 |
|  | $13674517 | $642641111 | $3159770 | $659475398 |
|  Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | $91664 | $59932216 | $— | $60023880 |
| &nbsp;&nbsp;&nbsp;&nbsp; Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | (129500) |  |  | (129500) |
|  | $(37836) | $59932216 | $— | $59894380 |

---

<sup>(a)</sup> Derivative financial instruments are swaps, futures contracts and options written. Swaps and futures contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value.

---

| | |
|:---|:---|
| **Currency Abbreviation** | **Currency Abbreviation** |
| USD | United States Dollar |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| ADR | American Depositary Receipt |
| BAM | Build America Mutual Assurance Co. |
| CDI | CREST Depository Interest |
| LP | Limited Partnership |

---

S C H E D U L E O F I N V E S T M E N T S 98

------

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued)<br> January 31, 2023 | **BlackRock Global Equity Market Neutral Fund** |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation (continued)** | **Portfolio Abbreviation (continued)** |
| MSCI | Morgan Stanley Capital International |
| PILOT | Payment in Lieu of Taxes |
| REIT | Real Estate Investment Trust |
| S&P | Standard & Poor's |
| SAP | Subject to Appropriations |
| SCA | Societe en Commandite par Actions |
| SDR | Swedish Depositary Receipt |
| SG | Syncora Guarantee |
| ST | Special Tax |
| UT | Unlimited Tax |

---

99.0

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** BlackRock Funds

- **b. Investment Company Act file number:** 811-05742

- **c. CIK number of Registrant:** 0000844779

- **d. LEI of Registrant:** 549300OZUEVJZHOBFP42

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

**Item A.2. Information about the Series.**

- **a. Name of Series:** BlackRock Global Equity Market Neutral Fund

- **b. EDGAR series identifier (if any):** S000039460

- **c. LEI of Series:** 549300FWX3HQBUJIR891

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $797731688.74

**Total Liabilities:** $121800294.14

**Net Assets:** $675931394.60

**Cash Not Reported:** $10806424.52

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 12.35000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 323.35000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000121567 | 1.84%                | 1.81%                | 2.28%                |
| Class ID C000121569 | 1.81%                | 1.68%                | 2.20%                |
| Class ID C000121568 | 1.87%                | 1.75%                | 2.32%                |
| Class ID C000166017 | 1.92%                | 1.71%                | 2.36%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $14432218.94             | $307476.71                                 |
| Month 2  | $-9316804.86             | $-88711.57                                 |
| Month 3  | $4667063.19              | $-179275.42                                |

### Schedule of Portfolio Investments

| Name                                        | Title                                                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796W47<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2080000 | PA      | $2052348.13   | 0.30%             | 2023-05-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Climate Transition Capital Acquisition I BV | Climate Transition Capital Acquisition I BV                       | CUSIP: 000000000<br>LEI: 98450041D8BBCFDFT410 | Long             | EC               | CORP              | NL        |     40590 | NS      | $433949.29    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                     | TRS:BlackRock Global Long/Short Equity Fund - GS                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | US        |  11146329 | OU      | $857572.86    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Climate Transition Capital Acquisition I BV | Climate Transition Capital Acquisition I BV                       | CUSIP: 000000000<br>LEI: 98450041D8BBCFDFT410 | N/A              | DE               |  | NL        |     13530 | NS      | $735.46       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                      | TRS:BlackRock Global Long/Short Equity Fund - UBS                 | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DE               |  | US        |   5689452 | OU      | $-356532.83   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Note/Bond                                  | CUSIP: 912828Z86<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4515000 | PA      | $4509504.57   | 0.67%             | 2023-02-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796Y78<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  18000000 | PA      | $17939992.50  | 2.65%             | 2023-02-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796ZT9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  96105000 | PA      | $96038527.05  | 14.21%            | 2023-02-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796YU7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  31000000 | PA      | $30723422.96  | 4.55%             | 2023-04-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                 | TRS:iShares S&P Mid-Cap 400 Value CFD - BNP                       | CUSIP: 000000000<br>LEI: 549300FWX3HQBUJIR891 | N/A              | DE               |  | US        |   2848677 | OU      | $781740.52    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796XT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  34000000 | PA      | $33996229.74  | 5.03%             | 2023-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill - WI Post Auction                     | CUSIP: 912796Y78<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        | 107000000 | PA      | $106737329.98 | 15.79%            | 2023-02-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AliphCom, Series 8                          | AliphCom, Series 8                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    823530 | NS      | $8.24         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                     | TRS:BlackRock Global Long/Short Equity Fund - US Large Cap - GS   | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               |  | US        |  16744037 | OU      | $820579.22    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Floating Rate Note                         | CUSIP: 91282CCQ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7190000 | PA      | $7190982.87   | 1.06%             | 2023-07-31      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORPORATION                 | TRS:BlackRock Global Long/Short Equity Fund - US Large Cap - BAML | CUSIP: 000000000<br>LEI: 9DJT3UXIJIZJI4WXO774 | N/A              | DE               |  | US        |    812926 | OU      | $213923.83    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796Y86<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  53390000 | PA      | $53162643.49  | 7.87%             | 2023-03-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912797FF9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8000000 | PA      | $7886841.68   | 1.17%             | 2023-05-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Illumio Inc., Series C                      | Illumio Inc., Series C                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    466730 | NS      | $3159762.10   | 0.47%             |  |  |  | Yes           |                  3 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796CT4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $19829177.00  | 2.93%             | 2023-04-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Floating Rate Note                         | CUSIP: 91282CEL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4885000 | PA      | $4878690.58   | 0.72%             | 2024-04-30      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796CU1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4040000 | PA      | $4001460.10   | 0.59%             | 2023-04-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AliphCom, Series 6                          | AliphCom, Series 6                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      8264 | NS      | $0.08         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| United States Treasury                      | United States Treasury Note/Bond                                  | CUSIP: 91282CBN0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   9985000 | PA      | $9951828.03   | 1.47%             | 2023-02-28      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796ZD4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1335000 | PA      | $1285141.31   | 0.19%             | 2023-11-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Palantir Technologies Inc                   | Palantir Technologies Inc                                         | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |         4 | NS      | $31.12        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORPORATION                 | TRS:BlackRock Global Long/Short Equity Fund - BAML                | CUSIP: 000000000<br>LEI: 9DJT3UXIJIZJI4WXO774 | N/A              | DE               |  | US        |   4010625 | OU      | $1375698.10   | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796Z77<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  40000000 | PA      | $39760533.20  | 5.88%             | 2023-03-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Floating Rate Note                         | CUSIP: 91282CDU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3395000 | PA      | $3394796.91   | 0.50%             | 2024-01-31      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill - WI Post Auction                     | CUSIP: 912796YW3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  54000000 | PA      | $53370892.44  | 7.90%             | 2023-05-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                   | BlackRock Liquidity Funds: T-Fund, Institutional Shares           | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |  12636000 | NS      | $12635999.91  | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796T33<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  24165000 | PA      | $24099247.76  | 3.57%             | 2023-02-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796ZU6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  29000000 | PA      | $28955100.46  | 4.28%             | 2023-02-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Note/Bond                                  | CUSIP: 91282CBX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    660000 | PA      | $652663.41    | 0.10%             | 2023-04-30      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                      | S+P 500 INDEX                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       350 | NC      | $1037750.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                 | S+P500 EMINI FUT MAR23                                            | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |        32 | NC      | $91663.23     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                      | United States Treasury Note/Bond                                  | CUSIP: 91282CBU4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3600000 | PA      | $3574279.58   | 0.53%             | 2023-03-31      | Fixed         | 0.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796YB9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  12000000 | PA      | $11957297.52  | 1.77%             | 2023-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                      | United States Treasury Floating Rate Note                         | CUSIP: 91282CFS5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  25800000 | PA      | $25808257.03  | 3.82%             | 2024-10-31      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                      | S+P 500 INDEX                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -350 | NC      | $-129500.00   | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                      | United States Treasury Bill                                       | CUSIP: 912796Z85<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  50800000 | PA      | $50449973.78  | 7.46%             | 2023-03-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-01

**Name of Applicant:** BlackRock Funds

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer