# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001193125-25-144667
**Filing Date:** 2025-6
**Character Count:** 5548
**Document Hash:** 06134dc2a5fdc6eb6b2a55143fbc0cef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-144667.hdr.sgml**: 20250623

**ACCESSION NUMBER**: 0001193125-25-144667

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250623

**DATE AS OF CHANGE**: 20250623

**EFFECTIVENESS DATE**: 20250623

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK FUNDS
- **CENTRAL INDEX KEY:** 0000844779

**ORGANIZATION NAME:**
- **EIN:** 510318674
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-26305
- **FILM NUMBER:** 251065225

**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

### iShares Enhanced Roll Yield Index Fund (Series ID: S000087850)

---

|  |  |
|:---|:---|
| Class Name                             | Class ID   |
| iShares Enhanced Roll Yield Index Fund | C000253864 |

---

## Series and Classes Contracts Data

### iShares Enhanced Roll Yield Index Fund (Series ID: S000087850)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000253864 | iShares Enhanced Roll Yield Index Fund |  |

**BLACKROCK FUNDS<sup>SM</sup>** 

iShares Enhanced Roll Yield Index Fund

(the "Fund")

**Supplement dated June 23, 2025 to the Statement of Additional Information ("SAI") of the Fund, dated October 3, 2024, as supplemented to date** 

**Effective immediately, the following changes are made to the Fund's SAI:** 

**The section of the SAI entitled "Management, Advisory and Other Service Arrangements — Information Regarding the Portfolio Managers" is revised as follows:** 

**The first paragraph is deleted in its entirety and replaced with the following:** 

**Information Regarding the Portfolio Manager** 

Orlando Montalvo is the portfolio manager and is primarily responsible for the day-to-day management of the Fund.

**The sub-section entitled "Other Funds and Accounts Managed" is deleted in its entirety and replaced with the following:** 

The following table sets forth information about the funds and accounts other than the Fund for which the Fund's portfolio manager is primarily responsible for the day-to-day portfolio management as of December 31, 2024.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Number of Other Accounts Managed<br>and Assets by Account Type** | **Number of Other Accounts Managed<br>and Assets by Account Type** | **Number of Other Accounts Managed<br>and Assets by Account Type** | **Number of Other Accounts and Assets<br>for Which Advisory Fee is<br>Performance-Based** | **Number of Other Accounts and Assets<br>for Which Advisory Fee is<br>Performance-Based** | **Number of Other Accounts and Assets<br>for Which Advisory Fee is<br>Performance-Based** |
| <br>**Name of Portfolio <br>Manager** | **Other**<br> **Registered**<br> **Investment**<br> **Companies** | **Other<br>Pooled**<br> **Investment**<br> **Vehicles** | **Other**<br> **Accounts** | **Other**<br> **Registered**<br> **Investment**<br> **Companies** | **Other<br>Pooled**<br> **Investment**<br> **Vehicles** | **Other**<br> **Accounts** |
| Orlando Montalvo | 3<br> $992.7 Million | 17<br> $1.29 Billion | 8<br> $1.78 Million | 0<br> $0 | 0<br> $0 | 0<br> $0 |

---

**The first paragraph of the sub-section entitled "Portfolio Manager Compensation Overview" is deleted in its entirety and replaced with the following:** 

The discussion below describes the portfolio manager's compensation as of December 31, 2024.

**The last sentence of the first paragraph of the sub-section entitled "Portfolio Manager Compensation Overview — Discretionary Incentive Compensation" is deleted in its entirety and replaced with the following:** 

The performance of Mr. Montalvo is not measured against a specific benchmark.

**The last sentence of the second paragraph of the sub-section entitled "Distribution of Discretionary Incentive Compensation" is deleted in its entirety and replaced with the following:** 

The portfolio manager of this Fund has deferred BlackRock, Inc. stock awards.

------

**The sub-section entitled "Portfolio Manager Beneficial Holdings" is deleted in its entirety and replaced with the following:** 

The portfolio manager owned no shares of the Fund as of the date of this SAI.

**The last three sentences of the first paragraph of the sub-section entitled "Portfolio Manager Potential Material Conflicts of Interest" are deleted in their entirety and replaced with the following:** 

It should also be noted that the portfolio manager may be managing hedge fund and/or long only accounts, or may be part of a team managing hedge fund and/or long only accounts, subject to incentive fees. The portfolio manager may therefore be entitled to receive a portion of any incentive fees earned on such accounts. Currently, the portfolio manager of this fund is not entitled to receive a portion of incentive fees of other accounts.

**Shareholders should retain this Supplement for future reference.**