# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001752724-23-009970
**Filing Date:** 2023-1
**Character Count:** 49940
**Document Hash:** 9c2a8bdb28ac2b7c359301bbc301fda6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-009970.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001752724-23-009970

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**PERIOD START**: 20230531

**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:** 23548938

**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 HEALTH SCIENCES OPPORTUNITIES PORTFOLIO (Series ID: S000001877)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000004912 | INSTITUTIONAL  | SHSSX           |
| C000004913 | SERVICE        | SHISX           |
| C000004914 | INVESTOR A     | SHSAX           |
| C000004916 | INVESTOR C     | SHSCX           |
| C000037661 | Class R Shares |  |
| C000172900 | Class K        |  |

## 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 Health Sciences Opportunities Portfolio

- **b. EDGAR series identifier (if any):** S000001877

- **c. LEI of Series:** VN6DJGBO8DKY0GTM4883

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

- **a. Date of fiscal year-end:** 2023-05-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $9724843523.21

**Total Liabilities:** $206841552.58

**Net Assets:** $9518001970.63

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000037661 | -3.17%               | 9.06%                | 4.79%                |
| Class ID C000004916 | -3.22%               | 9.04%                | 4.77%                |
| Class ID C000172900 | -3.12%               | 9.14%                | 4.85%                |
| Class ID C000004913 | -3.15%               | 9.10%                | 4.82%                |
| Class ID C000004914 | -3.14%               | 9.09%                | 4.83%                |
| Class ID C000004912 | -3.11%               | 9.13%                | 4.85%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-36820285.48            | $-246582597.25                             |
| Month 2  | $-11067583.02            | $786152794.87                              |
| Month 3  | $111729074.49            | $330356553.60                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Arcutis Biotherapeutics Inc                | Arcutis Biotherapeutics Inc                | CUSIP: 03969K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    799932 | NS      | $13782828.36  | 0.14%             |  |  |  | No            | 1                  | On Loan: —       |
| The Bank of New York Mellon                | EUR/USD FORWARD                            | CUSIP: 000000000<br>LEI: HPFHU0OQ28E4N0NFVK49 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1175616.06  | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Exo Imaging, Inc. SERIES C                 | Exo Imaging, Inc. SERIES C                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1908330 | NS      | $7060821.00   | 0.07%             |  |  |  | Yes           | 3                  | On Loan: No      |
| VERTEX PHARMACEUTICALS INC                 | VERTEX PHARMACEUTICALS INC                 | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |    714739 | NS      | $226143419.60 | 2.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Cigna Corp                                 | Cigna Corp                                 | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |    687981 | NS      | $226270071.09 | 2.38%             |  |  |  | No            | 1                  | On Loan: No      |
| AGILENT TECHNOLOGIES INC                   | AGILENT TECHNOLOGIES INC                   | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |   1016163 | NS      | $157484941.74 | 1.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Immunocore Holdings PLC                    | Immunocore Holdings PLC                    | CUSIP: 45258D105<br>LEI: 213800IUE3DFS84BVN18 | Long             | EC               | CORP              | GB        |    181355 | NS      | $11390907.55  | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Cerevel Therapeutics Holdings              | Cerevel Therapeutics Holdings Inc          | CUSIP: 15678U128<br>LEI: 254900RJNIRS9COSQR41 | Long             | EC               | CORP              | US        |    312854 | NS      | $9060251.84   | 0.10%             |  |  |  | No            | 1                  | On Loan: —       |
| Dexcom Inc                                 | Dexcom Inc                                 | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |    832633 | NS      | $96818565.24  | 1.02%             |  |  |  | No            | 1                  | On Loan: No      |
| Enanta Pharmaceuticals Inc                 | Enanta Pharmaceuticals Inc                 | CUSIP: 29251M106<br>LEI: 529900SSN4DODDQSN594 | Long             | EC               | CORP              | US        |     57153 | NS      | $2502729.87   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Rhythm Pharmaceuticals Inc                 | Rhythm Pharmaceuticals Inc                 | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |    756852 | NS      | $20260928.04  | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Immuneering Corp                           | Immuneering Corp                           | CUSIP: 45254E107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    264380 | NS      | $1715826.20   | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO                    | BRISTOL-MYERS SQUIBB CO                    | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    615670 | NS      | $49425987.60  | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Novocure Ltd                               | Novocure Ltd                               | CUSIP: 000000000<br>LEI: 213800YPP55UMHWA4826 | Long             | EC               | CORP              | JE        |    188610 | NS      | $14492792.40  | 0.15%             |  |  |  | No            | 1                  | On Loan: —       |
| MoonLake Immunotherapeutics                | MoonLake Immunotherapeutics                | CUSIP: 61559X104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    226542 | NS      | $2181599.46   | 0.02%             |  |  |  | No            | 1                  | On Loan: —       |
| THERMO FISHER SCIENTIFIC INC               | THERMO FISHER SCIENTIFIC INC               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |    673852 | NS      | $377505367.44 | 3.97%             |  |  |  | No            | 1                  | On Loan: No      |
| West Pharmaceutical Services I             | West Pharmaceutical Services Inc           | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |     47940 | NS      | $11249600.40  | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| AmerisourceBergen Corp                     | AmerisourceBergen Corp                     | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |    869425 | NS      | $148402153.25 | 1.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Genmab A/S                                 | Genmab A/S                                 | CUSIP: 372303206<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |    289405 | NS      | $13466014.65  | 0.14%             |  |  |  | No            | 1                  | On Loan: —       |
| UBS Securities LLC                         | USD/GBP FORWARD                            | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1271852.43  | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Alkermes PLC                               | Alkermes PLC                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |    356424 | NS      | $8832186.72   | 0.09%             |  |  |  | No            | 1                  | On Loan: —       |
| BIOMARIN PHARMACEUTICAL INC                | BIOMARIN PHARMACEUTICAL INC                | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |    491040 | NS      | $49585219.20  | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Sanofi                                     | Sanofi                                     | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    388736 | NS      | $35114254.67  | 0.37%             |  |  |  | No            | 2                  | On Loan: No      |
| CENTENE CORP                               | CENTENE CORP                               | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |   1070505 | NS      | $93187460.25  | 0.98%             |  |  |  | No            | 1                  | On Loan: No      |
| NEVRO CORP                                 | NEVRO CORP                                 | CUSIP: 64157F103<br>LEI: 254900SH91I4BOYKUE38 | Long             | EC               | CORP              | US        |    701343 | NS      | $32759731.53  | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Carbon Health Technologies Inc.            | Carbon Health Technologies Inc.            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     16855 | NS      | $16891743.90  | 0.18%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Guardant Health Inc                        | Guardant Health Inc                        | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |    208529 | NS      | $10914407.86  | 0.11%             |  |  |  | No            | 1                  | On Loan: —       |
| Nautilus Biotechnology Inc                 | Nautilus Biotechnology Inc                 | CUSIP: 63909J108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    308716 | NS      | $558775.96    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| NUVATION BIO INC                           | NUVATION EQUITY WARRANTS EXP TH JU         | CUSIP: 67080N119<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     77354 | NC      | $9901.31      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Danaher Corp                               | Danaher Corp                               | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |   1062813 | NS      | $290583702.33 | 3.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Ambrx Biopharma Inc                        | Ambrx Biopharma Inc                        | CUSIP: 02290A102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    842148 | NS      | $412610.41    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| AstraZeneca PLC                            | AstraZeneca PLC                            | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    946679 | NS      | $128124155.88 | 1.35%             |  |  |  | No            | 2                  | On Loan: No      |
| Health Sciences Acquisitions C             | Health Sciences Acquisitions Corp 2        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    262308 | NS      | $2596849.20   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Agiliti Inc                                | Agiliti Inc                                | CUSIP: 00848J104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    631112 | NS      | $10419659.12  | 0.11%             |  |  |  | No            | 1                  | On Loan: —       |
| Goldfinch Bio, Inc. SERIES B               | Goldfinch Bio, Inc. SERIES B               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3518800 | NS      | $1126016.00   | 0.01%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Neurocrine Biosciences Inc                 | Neurocrine Biosciences Inc                 | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |    354880 | NS      | $45091052.80  | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Imago Biosciences Inc                      | Imago Biosciences Inc                      | CUSIP: 45250K107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    907400 | NS      | $32385106.00  | 0.34%             |  |  |  | No            | 1                  | On Loan: —       |
| Swift Health Systems Inc., SERIES D        | Swift Health Systems Inc., SERIES D        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1700345 | NS      | $3264662.40   | 0.03%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Avantor Inc                                | Avantor Inc                                | CUSIP: 05352A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1282066 | NS      | $28564430.48  | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Blueprint Medicines Corp                   | Blueprint Medicines Corp                   | CUSIP: 09627Y109<br>LEI: 5299004CC60O9T5HVM83 | Long             | EC               | CORP              | US        |    223375 | NS      | $10675091.25  | 0.11%             |  |  |  | No            | 1                  | On Loan: —       |
| MedTech Acquisition Corp/NY                | MedTech Acquisition Corp/NY                | CUSIP: 58507N105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    831621 | NS      | $8357791.05   | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Neurogene, Inc. Series B                   | Neurogene, Inc. Series B                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2090000 | NS      | $5099600.00   | 0.05%             |  |  |  | Yes           | 3                  | On Loan: No      |
| PFIZER INC                                 | PFIZER INC                                 | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |   5311709 | NS      | $266275972.17 | 2.80%             |  |  |  | No            | 1                  | On Loan: No      |
| Align Technology Inc                       | Align Technology Inc                       | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |     63695 | NS      | $12526258.70  | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| PTC Therapeutics Inc                       | PTC Therapeutics Inc                       | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |    134325 | NS      | $5573144.25   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| DEUTSCHE BANK AKTIENGESELLSCHAFT           | CHF/USD FORWARD                            | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3070.45     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| AMEDISYS INC                               | AMEDISYS INC                               | CUSIP: 023436108<br>LEI: 5299001RBS9GK9STN379 | Long             | EC               | CORP              | US        |    367363 | NS      | $33463095.67  | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| McKesson Corp                              | McKesson Corp                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |    382710 | NS      | $146072752.80 | 1.53%             |  |  |  | No            | 1                  | On Loan: No      |
| STATE STREET GLOBAL MARKETS, LLC           | USD/GBP FORWARD                            | CUSIP: 000000000<br>LEI: 549300FDEDF5ORXCMQ56 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6603713.47  | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| Insulet Corp                               | Insulet Corp                               | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |    137677 | NS      | $41216363.49  | 0.43%             |  |  |  | No            | 1                  | On Loan: —       |
| TScan Therapeutics Inc                     | TScan Therapeutics Inc                     | CUSIP: 89854M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    551194 | NS      | $1185067.10   | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Regeneron Pharmaceuticals Inc              | Regeneron Pharmaceuticals Inc              | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |    169782 | NS      | $127625129.40 | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| iRhythm Technologies Inc                   | iRhythm Technologies Inc                   | CUSIP: 450056106<br>LEI: 549300FJI72RJGDQS384 | Long             | EC               | CORP              | US        |     36545 | NS      | $3985232.25   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| SAREPTA THERAPEUTICS INC                   | SAREPTA THERAPEUTICS INC                   | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |    301019 | NS      | $36968143.39  | 0.39%             |  |  |  | No            | 1                  | On Loan: —       |
| CAREMAX INC                                | CAREMAX INC                                | CUSIP: 14171W111<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     88432 | NC      | $48637.60     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| LHC Group Inc                              | LHC Group Inc                              | CUSIP: 50187A107<br>LEI: 5299009NPLWAMRQYZX73 | Long             | EC               | CORP              | US        |    368131 | NS      | $60156286.71  | 0.63%             |  |  |  | No            | 1                  | On Loan: —       |
| Daiichi Sankyo Co Ltd                      | Daiichi Sankyo Co Ltd                      | CUSIP: 000000000<br>LEI: 353800XGIU2IHQGC9504 | Long             | EC               | CORP              | JP        |   1783500 | NS      | $59070522.07  | 0.62%             |  |  |  | No            | 2                  | On Loan: No      |
| ABIOMED Inc                                | ABIOMED Inc                                | CUSIP: 003654100<br>LEI: 5493001EZN4ZTB4Z5887 | Long             | EC               | CORP              | US        |    243643 | NS      | $92045888.97  | 0.97%             |  |  |  | No            | 1                  | On Loan: No      |
| Catalent Inc                               | Catalent Inc                               | CUSIP: 148806102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    243855 | NS      | $12224451.15  | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Masimo Corp                                | Masimo Corp                                | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |     99835 | NS      | $14470084.90  | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Horizon Therapeutics Plc                   | Horizon Therapeutics Plc                   | CUSIP: 000000000<br>LEI: 529900P0GSQ79OOZEV53 | Long             | EC               | CORP              | US        |    370606 | NS      | $37168075.74  | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| INCYTE CORP                                | INCYTE CORP                                | CUSIP: 45337C102<br>LEI: 549300Z4WN6JVZ3T4680 | Long             | EC               | CORP              | US        |    458365 | NS      | $36517939.55  | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Cellarity, Inc. series B                   | Cellarity, Inc. series B                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    858333 | NS      | $3398998.68   | 0.04%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Bausch + Lomb Corp                         | Bausch + Lomb Corp                         | CUSIP: 071705107<br>LEI: 549300NY6OZM39SO6475 | Long             | EC               | CORP              | CA        |   1268266 | NS      | $19188864.58  | 0.20%             |  |  |  | No            | 1                  | On Loan: —       |
| Alcon Inc                                  | Alcon Inc                                  | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |   1123798 | NS      | $77418444.22  | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| BOSTON SCIENTIFIC CORP                     | BOSTON SCIENTIFIC CORP                     | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |   6434908 | NS      | $291308285.16 | 3.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Affinivax Inc.,                            | Affinivax Inc.,                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    122824 | NS      | $1586886.08   | 0.02%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Alnylam Pharmaceuticals Inc                | Alnylam Pharmaceuticals Inc                | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |    250177 | NS      | $55186544.43  | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| ICON PLC                                   | ICON PLC                                   | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |    130435 | NS      | $28100916.40  | 0.30%             |  |  |  | No            | 1                  | On Loan: —       |
| Design Therapeutics Inc                    | Design Therapeutics Inc                    | CUSIP: 25056L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    257492 | NS      | $3604888.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: —       |
| Biogen Inc                                 | Biogen Inc                                 | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |    457568 | NS      | $139636026.56 | 1.47%             |  |  |  | No            | 1                  | On Loan: No      |
| RESMED INC                                 | RESMED INC                                 | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |    334912 | NS      | $77096742.40  | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Mirati Therapeutics Inc                    | Mirati Therapeutics Inc                    | CUSIP: 60468T105<br>LEI: 529900GYRW59IDQV6N54 | Long             | EC               | CORP              | US        |     69495 | NS      | $6350453.10   | 0.07%             |  |  |  | No            | 1                  | On Loan: —       |
| STRYKER CORP                               | STRYKER CORP                               | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |    834385 | NS      | $195154307.65 | 2.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Exact Sciences Corp                        | Exact Sciences Corp                        | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |    263958 | NS      | $11864912.10  | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| IsoPlexis Corp                             | IsoPlexis Corp                             | CUSIP: 465005106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    554988 | NS      | $754783.68    | 0.01%             |  |  |  | No            | 1                  | On Loan: —       |
| ZOETIS INC                                 | ZOETIS INC                                 | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |   1215671 | NS      | $187383527.94 | 1.97%             |  |  |  | No            | 1                  | On Loan: No      |
| AbbVie Inc                                 | AbbVie Inc                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |   1695600 | NS      | $273296808.00 | 2.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Roche Holding AG                           | Roche Holding AG                           | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |    134294 | NS      | $43863629.12  | 0.46%             |  |  |  | No            | 2                  | On Loan: No      |
| Hansoh Pharmaceutical Group Co             | Hansoh Pharmaceutical Group Co Ltd         | CUSIP: 000000000<br>LEI: 254900Q6MR00EBXTPF42 | Long             | EC               | CORP              | CN        |   1068176 | NS      | $2027813.63   | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Encompass Health Corp                      | Encompass Health Corp                      | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |    749047 | NS      | $43804268.56  | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Rocket Pharmaceuticals Inc                 | Rocket Pharmaceuticals Inc                 | CUSIP: 77313F106<br>LEI: 549300R7VV82YUIN4Y93 | Long             | EC               | CORP              | US        |    209841 | NS      | $3961798.08   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Quanta Dialysis Technologies Ltd SERIES D  | Quanta Dialysis Technologies Ltd SERIES D  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |  80024425 | NS      | $6365662.92   | 0.07%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Johnson & Johnson                          | Johnson & Johnson                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |   2800738 | NS      | $498531364.00 | 5.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Legend Biotech Corp                        | Legend Biotech Corp                        | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | US        |    227561 | NS      | $11721667.11  | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Ultragenyx Pharmaceutical Inc              | Ultragenyx Pharmaceutical Inc              | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |     99990 | NS      | $3629637.00   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Monte Rosa Therapeutics Inc                | Monte Rosa Therapeutics Inc                | CUSIP: 61225M102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    533603 | NS      | $4524953.44   | 0.05%             |  |  |  | No            | 1                  | On Loan: —       |
| GILEAD SCIENCES INC                        | GILEAD SCIENCES INC                        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |   2619182 | NS      | $230042755.06 | 2.42%             |  |  |  | No            | 1                  | On Loan: No      |
| ABBOTT LABORATORIES                        | ABBOTT LABORATORIES                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |   2585443 | NS      | $278141957.94 | 2.92%             |  |  |  | No            | 1                  | On Loan: No      |
| LARONDE INC SERIES B                       | LARONDE INC SERIES B                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    386520 | NS      | $9740304.00   | 0.10%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Argenx SE                                  | Argenx SE                                  | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |    117442 | NS      | $46738392.74  | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| MERCK & CO INC                             | MERCK & CO. INC.                           | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |   3535314 | NS      | $389308777.68 | 4.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Penumbra Inc                               | Penumbra Inc                               | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |    300145 | NS      | $62883378.95  | 0.66%             |  |  |  | No            | 1                  | On Loan: —       |
| Rapid Micro Biosystems Inc                 | Rapid Micro Biosystems Inc                 | CUSIP: 75340L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    377456 | NS      | $773784.80    | 0.01%             |  |  |  | No            | 1                  | On Loan: —       |
| Karuna Therapeutics Inc                    | Karuna Therapeutics Inc                    | CUSIP: 48576A100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58390 | NS      | $13739750.90  | 0.14%             |  |  |  | No            | 1                  | On Loan: —       |
| Mettler-Toledo International I             | Mettler-Toledo International Inc           | CUSIP: 592688105<br>LEI: 5493000BD5GJNUDIUG10 | Long             | EC               | CORP              | US        |     16425 | NS      | $24137523.00  | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Cooper Cos Inc/The                         | Cooper Cos Inc/The                         | CUSIP: 216648402<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |    103037 | NS      | $32595754.95  | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| 10X Genomics Inc                           | 10X Genomics Inc                           | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |    166778 | NS      | $6447637.48   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Genmab A/S                                 | Genmab A/S                                 | CUSIP: 000000000<br>LEI: 529900MTJPDPE4MHJ122 | Long             | EC               | CORP              | DK        |     42470 | NS      | $19680384.33  | 0.21%             |  |  |  | No            | 2                  | On Loan: No      |
| Prime Medicine Inc                         | Prime Medicine Inc                         | CUSIP: 74168J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    360982 | NS      | $6205280.58   | 0.07%             |  |  |  | No            | 1                  | On Loan: —       |
| Omnicell Inc                               | Omnicell Inc                               | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |    110704 | NS      | $5713433.44   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| HCA Healthcare Inc                         | HCA Healthcare Inc                         | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |    132351 | NS      | $31793357.22  | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| REVOLUTION Medicines Inc                   | REVOLUTION Medicines Inc                   | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |    305798 | NS      | $7213774.82   | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| BAXTER INTERNATIONAL INC                   | BAXTER INTERNATIONAL INC                   | CUSIP: 071813109<br>LEI: J5OIVXX3P24RJRW5CK77 | Long             | EC               | CORP              | US        |   1168311 | NS      | $66044620.83  | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Seagen Inc                                 | Seagen Inc                                 | CUSIP: 81181C104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    341700 | NS      | $41478963.00  | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Glaukos Corp                               | Glaukos Corp                               | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |     77335 | NS      | $3601490.95   | 0.04%             |  |  |  | No            | 1                  | On Loan: No      |
| EDWARDS LIFESCIENCES CORP                  | EDWARDS LIFESCIENCES CORP                  | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |    607879 | NS      | $46958652.75  | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| AMGEN INC                                  | AMGEN INC                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |   1087435 | NS      | $311441384.00 | 3.27%             |  |  |  | No            | 1                  | On Loan: No      |
| ANTHEM INC                                 | ANTHEM INC                                 | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |    562502 | NS      | $299768565.84 | 3.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Decibel Therapeutics Inc                   | Decibel Therapeutics Inc                   | CUSIP: 24343R106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    897801 | NS      | $2756249.07   | 0.03%             |  |  |  | No            | 1                  | On Loan: —       |
| Waters Corp                                | Waters Corp                                | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |    175735 | NS      | $60909751.00  | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| MONEY MARKET SERIES LLC                    | MONEY MARKET SERIES LLC                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        | 157531514 | NS      | $157468501.87 | 1.65%             |  |  |  | No            | N/A                | On Loan: No      |
| Prothena Corp PLC                          | Prothena Corp PLC                          | CUSIP: 000000000<br>LEI: 5299009ZXQ8NIIJ8OL30 | Long             | EC               | CORP              | IE        |    137132 | NS      | $8572121.32   | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Arvinas Inc                                | Arvinas Inc                                | CUSIP: 04335A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    171970 | NS      | $7057648.80   | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Nuvalent Inc                               | Nuvalent Inc                               | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    176992 | NS      | $5819496.96   | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Insitro, Series C                          | Insitro, Series C                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    592636 | NS      | $7046442.04   | 0.07%             |  |  |  | Yes           | 3                  | On Loan: No      |
| BioNTech SE                                | BioNTech SE                                | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |    137130 | NS      | $22903452.60  | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| INTUITIVE SURGICAL INC                     | INTUITIVE SURGICAL INC                     | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |    717534 | NS      | $194014018.26 | 2.04%             |  |  |  | No            | 1                  | On Loan: No      |
| AstraZeneca PLC                            | AstraZeneca PLC                            | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    398642 | NS      | $27095696.74  | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                 | USD/GBP FORWARD                            | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $2344328.34   | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| UNITEDHEALTH GROUP INC                     | UNITEDHEALTH GROUP INC                     | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |   1517369 | NS      | $831154043.44 | 8.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Sage Therapeutics Inc                      | Sage Therapeutics Inc                      | CUSIP: 78667J108<br>LEI: 5493000JX4BJS9W6CN35 | Long             | EC               | CORP              | US        |    343935 | NS      | $14115092.40  | 0.15%             |  |  |  | No            | 1                  | On Loan: —       |
| Zimmer Biomet Holdings Inc                 | Zimmer Biomet Holdings Inc                 | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |    239113 | NS      | $28717471.30  | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| IQVIA Holdings Inc                         | IQVIA Holdings Inc                         | CUSIP: 46266C105<br>LEI: 549300W3R20NM4KQPH86 | Long             | EC               | CORP              | US        |    394897 | NS      | $86095443.94  | 0.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Quest Diagnostics Inc                      | Quest Diagnostics Inc                      | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |    647908 | NS      | $98371871.64  | 1.03%             |  |  |  | No            | 1                  | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                 | USD/EUR FORWARD                            | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $583719.53    | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Sigilon Therapeutics Inc                   | Sigilon Therapeutics Inc                   | CUSIP: 82657L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    332626 | NS      | $138605.25    | 0.00%             |  |  |  | No            | 1                  | On Loan: —       |
| Ionis Pharmaceuticals Inc                  | Ionis Pharmaceuticals Inc                  | CUSIP: 462222100<br>LEI: 549300SI4ZGLG0BLUZ92 | Long             | EC               | CORP              | US        |    293400 | NS      | $11967786.00  | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Afferent Pharmaceuticals, Inc.             | Afferent Pharmaceuticals, Inc.             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   3420640 | NS      | $2599686.40   | 0.03%             |  |  |  | Yes           | 3                  | On Loan: No      |
| PMV Pharmaceuticals Inc                    | PMV Pharmaceuticals Inc                    | CUSIP: 69353Y103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    306148 | NS      | $3055357.04   | 0.03%             |  |  |  | No            | 1                  | On Loan: —       |
| Moderna Inc                                | Moderna Inc                                | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |    570284 | NS      | $100318658.44 | 1.05%             |  |  |  | No            | 1                  | On Loan: —       |
| Medtronic PLC                              | Medtronic PLC                              | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |   2002837 | NS      | $158304236.48 | 1.66%             |  |  |  | No            | 1                  | On Loan: No      |
| ELI LILLY & CO                             | ELI LILLY & CO                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |   1425371 | NS      | $528926670.68 | 5.56%             |  |  |  | No            | 1                  | On Loan: —       |
| Tenaya Therapeutics Inc                    | Tenaya Therapeutics Inc                    | CUSIP: 87990A106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    431076 | NS      | $1142351.40   | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| BLACKROCK LIQUIDITY FUNDS T-FUND PORTFOLIO | BLACKROCK LIQUIDITY FUNDS T-FUND PORTFOLIO | CUSIP: 09248U718<br>LEI: 5493002L9DNZ83RX7V61 | Long             | STIV             | RF                | US        | 175058791 | NS      | $175058791.47 | 1.84%             |  |  |  | No            | 1                  | On Loan: No      |
| QIAGEN NV                                  | QIAGEN NV                                  | CUSIP: 000000000<br>LEI: 54930036WK3GMCN17Z57 | Long             | EC               | CORP              | NL        |    406956 | NS      | $20160600.24  | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2023-01-24

**Name of Applicant:** BlackRock Funds

**Signature:** Ann Frechette

**Name of Signer:** Ann Frechette

**Title:** Assistant Treasurer