# EDGAR Filing Document

**Accession Number:** 0001324285
**File Stem:** 0001752724-23-072015
**Filing Date:** 2023-3
**Character Count:** 27523
**Document Hash:** e07797ee76d4134b3bc1d277ae06b05f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-072015.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-072015

**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 Unconstrained Equity Fund
- **CENTRAL INDEX KEY:** 0001324285
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0418

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21759
- **FILM NUMBER:** 23774140

**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:** BlackRock Long-Horizon Equity Fund
- **DATE OF NAME CHANGE:** 20121015

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BLACKROCK LONG-HORIZON EQUITY FUND
- **DATE OF NAME CHANGE:** 20121015

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BlackRock Global Dynamic Equity Fund
- **DATE OF NAME CHANGE:** 20061002

## Series and Classes Contracts Data

### BlackRock Unconstrained Equity Fund (Series ID: S000002718)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000007412 | Investor A    |  |
| C000007414 | Investor C    |  |
| C000007415 | Institutional |  |
| C000047292 | Class R       |  |

## Nport-Ex

---

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

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
|  **Common Stocks** |  |  |
|  **Denmark — 4.6%** |  |  |
|  Novo Nordisk A/S, Class B | 75157 | $10400960 |
|  **France — 9.9%** |  |  |
|  LVMH Moet Hennessy Louis Vuitton SE | 25233 | 22027794 |
|  **Italy — 3.7%** |  |  |
|  Ferrari NV | 33075 | 8264919 |
|  **Netherlands — 8.6%** |  |  |
|  ASML Holding NV | 28991 | 19181827 |
|  **Switzerland — 4.4%** |  |  |
|  Lonza Group AG, Registered Shares | 17181 | 9800752 |
|  **United Kingdom — 5.4%** |  |  |
|  Auto Trader Group PLC<sup>(a)</sup>  | 575985 | 4468769 |
|  Spirax-Sarco Engineering PLC | 52618 | 7516057 |
|  |  | 11984826 |
| **United States — 63.4%** |  |  |
|  Alphabet, Inc., Class C<sup>(b)</sup>  | 95051 | 9492743 |
|  ANSYS, Inc.<sup>(b)</sup>  | 28637 | 7627751 |
|  Cadence Design Systems, Inc.<sup>(b)</sup>  | 70200 | 12834666 |
|  Costco Wholesale Corp. | 19052 | 9738239 |
|  Floor & Decor Holdings, Inc., Class A<sup>(b)(c)</sup>  | 67195 | 6099290 |
|  Intuit, Inc. | 19427 | 8211210 |
|  Intuitive Surgical, Inc.<sup>(b)</sup>  | 27401 | 6732152 |
|  Masimo Corp.<sup>(b)</sup>  | 21597 | 3673218 |
|  Mastercard, Inc., Class A | 41406 | 15345064 |
|  Microsoft Corp. | 74959 | 18575590 |
|  NIKE, Inc., Class B | 49448 | 6296214 |
|  S&P Global, Inc. | 28328 | 10621300 |
|  Thermo Fisher Scientific, Inc. | 9467 | 5399314 |
|  VeriSign, Inc.<sup>(b)</sup>  | 38192 | 8327766 |
|  Verisk Analytics, Inc. | 36784 | 6686963 |
|  Visa, Inc., Class A | 26003 | 5986151 |
|  |  | 141647631 |
|  **Total Long-Term Investments — 100.0%<br>(Cost: $199,099,409)** |  | 223308709 |

---

---

| | | | |
|:---|:---|:---|:---|
| *Security* | *Shares* | *Shares* | *Value* |
|  **Short-Term Securities** |  |  |  |
| **Money Market Funds — 2.2%** | **Money Market Funds — 2.2%** | **Money Market Funds — 2.2%** | **Money Market Funds — 2.2%** |
|  SL Liquidity Series, LLC, Money Market Series, 4.54%<sup>(d)(e)(f)</sup>  |  | 4912073 | $4913056 |
|  | *Par*<br> *(000)* | *Par*<br> *(000)* |  |
|  **Time Deposits — 0.0%** |  |  |  |
| **United Kingdom — 0.0%** |  |  |  |
|  ING Bank, Amsterdam, 2.43%, 02/01/23 | GBP | 16 | 19701 |
|  **Total Short-Term Securities — 2.2%<br>(Cost: $4,930,225)** |  |  | 4932757 |
|  **Total Investments — 102.2%<br>(Cost: $204,029,634)** |  |  | 228241466 |
|  **Liabilities in Excess of Other Assets — (2.2)%** | **Liabilities in Excess of Other Assets — (2.2)%** | **Liabilities in Excess of Other Assets — (2.2)%** | (4822234) |
|  **Net Assets — 100.0%** |  |  | $223419232 |

---

<sup>(a)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

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

<sup>(c)</sup> All or a portion of this security is on loan.

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

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

<sup>(f)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities.

**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* | *Proceeds<br>from Sales* | *Net<br>Realized<br>Gain (Loss)* | *Change in<br>Unrealized<br>Appreciation<br>(Depreciation)* | *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<sup>(a)</sup>  | $7783672 | $— | $(7783672)<sup>(b)</sup> | $— | $— | $— |  | $122957 | $— |
|  SL Liquidity Series, LLC, Money Market Series |  | 4910962 <sup>(b)</sup> |  | (438) | 2532 | 4913056 | 4912073 | 3698 <sup>(c)</sup> |  |
|  |  |  |  | $(438) | $2532 | $4913056 |  | $126655 | $— |

---

<sup>(a)</sup> As of period end, the entity is no longer held.

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

<sup>(c)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

------

---

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

---

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | *Unrealized<br>Appreciation<br>(Depreciation)* |
| USD | 42328 | GBP | 34761 | BNP Paribas S.A. | 02/17/23 | $(540) |
| USD | 3545587 | GBP | 2911643 | HSBC Bank PLC | 02/17/23 | (45203) |
|  |  |  |  |  |  | $(45743) |

---

**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;&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;&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;&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.

Certain investments of the Fund were fair valued using net asset value ("NAV") per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
|  Assets |  |  |  |  |
| &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; Denmark | $— | $10400960 | $— | $10400960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; France |  | 22027794 |  | 22027794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Italy |  | 8264919 |  | 8264919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Netherlands |  | 19181827 |  | 19181827 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Switzerland |  | 9800752 |  | 9800752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Kingdom |  | 11984826 |  | 11984826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States | 141647631 |  |  | 141647631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Time Deposits |  | 19701 |  | 19701 |
|  | $&nbsp;&nbsp;&nbsp;&nbsp;141647631 | $&nbsp;&nbsp;&nbsp;&nbsp;81680779 | $— | 223328410 |
|  Investments Valued at NAV<sup>(a)</sup>  |  |  |  | 4913056 |
|  |  |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;228241466 |
|  Derivative Financial Instruments<sup>(b)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | $— | $(45743) | $— | $(45743) |

---

<sup>(a)</sup> Certain investments of the Fund were fair valued using NAV as a practical expedient as no quoted market value is available and therefore have been excluded from the fair value hierarchy.

<sup>(b)</sup> Derivative financial instruments are forward foreign currency exchange contracts. Forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument.

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 Unconstrained Equity Fund**<br>|

---

**Currency Abbreviation** 

---

| | |
|:---|:---|
| GBP | British Pound |
| USD | United States Dollar |

---

**Portfolio Abbreviation** 

 <br> S&P Standard & Poor's

3.0

## 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 Unconstrained Equity Fund

- **b. Investment Company Act file number:** 811-21759

- **c. CIK number of Registrant:** 0001324285

- **d. LEI of Registrant:** U52BPAA65E104NOUF784

- **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 Unconstrained Equity Fund

- **b. EDGAR series identifier (if any):** S000002718

- **c. LEI of Series:** U52BPAA65E104NOUF784

**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:** $235037189.06

**Total Liabilities:** $11581935.50

**Net Assets:** $223455253.56

**Cash Not Reported:** $28064.42

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000047292 | 10.77%               | -4.91%               | 10.93%               |
| Class ID C000007414 | 10.63%               | -4.95%               | 10.93%               |
| Class ID C000007415 | 10.82%               | -4.88%               | 10.99%               |
| Class ID C000007412 | 10.74%               | -4.90%               | 11.02%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-734259.57              | $22905229.50                               |
| Month 2  | $-1850600.45             | $-8955764.14                               |
| Month 3  | $-102369.57              | $22596286.63                               |

**Designated Index Information**

- **Index Name:** MSCI World Index

- **Index Identifier:** NDDUWI

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| LVMH Moet Hennessy Louis Vuitton SE                      | LVMH Moet Hennessy Louis Vuitton SE                     | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |     25233 | NS      | $22027793.76  | 9.86%             |  |  |  | No            | 2                  | On Loan: No      |
| Intuit Inc                                               | Intuit Inc                                              | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     19427 | NS      | $8211210.09   | 3.67%             |  |  |  | No            | 1                  | On Loan: No      |
| BNP Paribas SA                                           | PURCHASED USD / SOLD GBP                                | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |         1 | NC      | $-540.48      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| ASML Holding NV                                          | ASML Holding NV                                         | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |     28991 | NS      | $19181826.75  | 8.58%             |  |  |  | No            | 2                  | On Loan: No      |
| BROWN BROTHERS GBP GBP OVERNIGHT SWEEP                   | BROWN BROTHERS GBP                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     29884 | NS      | $36841.94     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| Thermo Fisher Scientific Inc                             | Thermo Fisher Scientific Inc                            | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      9467 | NS      | $5399314.11   | 2.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Costco Wholesale Corp                                    | Costco Wholesale Corp                                   | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     19052 | NS      | $9738239.28   | 4.36%             |  |  |  | No            | 1                  | On Loan: No      |
| NIKE Inc                                                 | NIKE Inc                                                | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     49448 | NS      | $6296213.84   | 2.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Novo Nordisk A/S                                         | Novo Nordisk A/S                                        | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |     75157 | NS      | $10400959.70  | 4.65%             |  |  |  | No            | 2                  | On Loan: No      |
| BROWN BROTHERS SGD SGD OVERNIGHT SWEEP                   | BROWN BROTHERS SGD                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |         3 | NS      | $2.11         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Visa Inc                                                 | Visa Inc                                                | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     26003 | NS      | $5986150.63   | 2.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Microsoft Corp                                           | Microsoft Corp                                          | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     74959 | NS      | $18575589.79  | 8.31%             |  |  |  | No            | 1                  | On Loan: No      |
| Spirax-Sarco Engineering PLC                             | Spirax-Sarco Engineering PLC                            | CUSIP: 000000000<br>LEI: 213800WFVZQMHOZP2W17 | Long             | EC               | CORP              | GB        |     52488 | NS      | $7497487.75   | 3.36%             |  |  |  | No            | 2                  | On Loan: No      |
| Alphabet Inc                                             | Alphabet Inc                                            | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     95051 | NS      | $9492743.37   | 4.25%             |  |  |  | No            | 1                  | On Loan: No      |
| HSBC Bank PLC                                            | PURCHASED USD / SOLD GBP                                | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |         1 | NC      | $-45202.62    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| Cadence Design Systems Inc                               | Cadence Design Systems Inc                              | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     70200 | NS      | $12834666.00  | 5.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Intuitive Surgical Inc                                   | Intuitive Surgical Inc                                  | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     27401 | NS      | $6732151.69   | 3.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Mastercard Inc                                           | Mastercard Inc                                          | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     41406 | NS      | $15345063.60  | 6.87%             |  |  |  | No            | 1                  | On Loan: No      |
| Auto Trader Group PLC                                    | Auto Trader Group PLC                                   | CUSIP: 000000000<br>LEI: 213800QLK9BZILB1DI86 | Long             | EC               | CORP              | GB        |    575985 | NS      | $4468769.43   | 2.00%             |  |  |  | No            | 2                  | On Loan: No      |
| BROWN BROTHERS ZAR ZAR OVERNIGHT SWEEP                   | BROWN BROTHERS ZAR                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |       341 | PA      | $19.62        | 0.00%             | 2049-12-31      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| Lonza Group AG                                           | Lonza Group AG                                          | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |     17181 | NS      | $9800752.68   | 4.39%             |  |  |  | No            | 2                  | On Loan: No      |
| VeriSign Inc                                             | VeriSign Inc                                            | CUSIP: 92343E102<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | EC               | CORP              | US        |     38192 | NS      | $8327765.60   | 3.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Ferrari NV                                               | Ferrari NV                                              | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |     33075 | NS      | $8264918.80   | 3.70%             |  |  |  | No            | 2                  | On Loan: No      |
| Money Market Series a series of SL Liquidity Series, LLC | SL Liquidity Series, LLC, Money Market Series           | CUSIP: 590204509<br>LEI: 549300I0RQO84VDWQP47 | Long             | STIV             |  | US        |   5002321 | NS      | $5003321.42   | 2.24%             |  |  |  | No            | N/A                | On Loan: No      |
| BROWN BROTHERS NOK NOK OVERNIGHT SWEEP                   | BROWN BROTHERS NOK                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |         3 | NS      | $0.28         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| BROWN BROTHERS NZD NZD OVERNIGHT SWEEP                   | BROWN BROTHERS NZD                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |         6 | NS      | $3.82         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Masimo Corp                                              | Masimo Corp                                             | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |     21597 | NS      | $3673217.76   | 1.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Verisk Analytics Inc                                     | Verisk Analytics Inc                                    | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     36784 | NS      | $6686963.36   | 2.99%             |  |  |  | No            | 1                  | On Loan: No      |
| ANSYS Inc                                                | ANSYS Inc                                               | CUSIP: 03662Q105<br>LEI: 549300VJV8H15Z5FJ571 | Long             | EC               | CORP              | US        |     28637 | NS      | $7627751.32   | 3.41%             |  |  |  | No            | 1                  | On Loan: No      |
| S&P Global Inc                                           | S&P Global Inc                                          | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |     28328 | NS      | $10621300.32  | 4.75%             |  |  |  | No            | 1                  | On Loan: No      |
| BlackRock Liquidity Funds                                | BlackRock Liquidity Funds: T-Fund, Institutional Shares | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |    375064 | NS      | $375063.79    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Floor & Decor Holdings Inc                               | Floor & Decor Holdings Inc                              | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |     67195 | NS      | $6099290.15   | 2.73%             |  |  |  | No            | 1                  | On Loan: —       |

### Signature

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

**Name of Applicant:** BlackRock Unconstrained Equity Fund

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer