# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001410368-26-066798
**Filing Date:** 2026-6
**Character Count:** 68586
**Document Hash:** fa56aec797fd460c25e4b9b3d946a76e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-066798.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0001410368-26-066798

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**PERIOD START**: 20270131

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05742
- **FILM NUMBER:** 261121724

**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 FTSE NAREIT All Equity REIT Index Fund (Series ID: S000087852)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000253866 | iShares FTSE NAREIT All Equity REIT Index Fund |  |

## Nport-Ex

April 30, 2026

2026 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **BlackRock Funds**<sup>SM</sup> |
| • iShares FTSE NAREIT All Equity REIT Index Fund |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

April 30, 2026

**iShares FTSE NAREIT All Equity REIT Index Fund** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Diversified REITs — 2.0%** | **Diversified REITs — 2.0%** |  |
| Alpine Income Property Trust, Inc. | 15455 | &nbsp;&nbsp; $290554 |
| American Assets Trust, Inc. | 67318 | &nbsp;&nbsp; 1396175 |
| Armada Hoffler Properties, Inc. | 103939 | &nbsp;&nbsp; 632989 |
| Broadstone Net Lease, Inc. | 243619 | &nbsp;&nbsp; 4823656 |
| CTO Realty Growth, Inc. | 40574 | &nbsp;&nbsp; 821624 |
| Essential Properties Realty Trust, Inc. | 253638 | &nbsp;&nbsp; 7971843 |
| Gladstone Commercial Corp. | 62143 | &nbsp;&nbsp; 783623 |
| Global Net Lease, Inc. | 251870 | &nbsp;&nbsp; 2407877 |
| NexPoint Diversified Real Estate Trust | 49277 | &nbsp;&nbsp; 267081 |
| WP Carey, Inc. | 280631 | &nbsp;&nbsp; 20466419 |
|  |  | &nbsp;&nbsp; 39861841 |
| **Health Care REITs — 17.4%** | **Health Care REITs — 17.4%** |  |
| Alexandria Real Estate Equities, Inc. | 221524 | &nbsp;&nbsp; 8973937 |
| American Healthcare REIT, Inc. | 228575 | &nbsp;&nbsp; 11607038 |
| CareTrust REIT, Inc. | 287504 | &nbsp;&nbsp; 11342033 |
| Chiron Real Estate, Inc. | 16736 | &nbsp;&nbsp; 586932 |
| Community Healthcare Trust, Inc. | 33355 | &nbsp;&nbsp; 574373 |
| Diversified Healthcare Trust | 285228 | &nbsp;&nbsp; 2150619 |
| Healthcare Realty Trust, Inc. | 422889 | &nbsp;&nbsp; 7908024 |
| Healthpeak Properties, Inc. | 896774 | &nbsp;&nbsp; 14500836 |
| LTC Properties, Inc. | 59917 | &nbsp;&nbsp; 2290028 |
| Medical Properties Trust, Inc. | 643372 | &nbsp;&nbsp; 3178258 |
| National Health Investors, Inc. | 60404 | &nbsp;&nbsp; 4645672 |
| Omega Healthcare Investors, Inc. | 381861 | &nbsp;&nbsp; 17936011 |
| Sabra Health Care REIT, Inc. | 320249 | &nbsp;&nbsp; 6616344 |
| Sila Realty Trust, Inc. | 72304 | &nbsp;&nbsp; 2200211 |
| Universal Health Realty Income Trust | 16753 | &nbsp;&nbsp; 681847 |
| Ventas, Inc. | 606240 | &nbsp;&nbsp; 53264246 |
| Welltower, Inc. | 890326 | &nbsp;&nbsp; 193503453 |
|  |  | &nbsp;&nbsp; 341959862 |
| **Hotel & Resort REITs — 2.4%** | **Hotel & Resort REITs — 2.4%** |  |
| Apple Hospitality REIT, Inc. | 286376 | &nbsp;&nbsp; 3857485 |
| Braemar Hotels & Resorts, Inc. | 78379 | &nbsp;&nbsp; 189677 |
| Chatham Lodging Trust | 58787 | &nbsp;&nbsp; 510271 |
| DiamondRock Hospitality Co. | 258783 | &nbsp;&nbsp; 2639587 |
| Host Hotels & Resorts, Inc. | 887685 | &nbsp;&nbsp; 18756784 |
| Park Hotels & Resorts, Inc. | 237915 | &nbsp;&nbsp; 2728885 |
| Pebblebrook Hotel Trust | 142148 | &nbsp;&nbsp; 1997179 |
| RLJ Lodging Trust | 159368 | &nbsp;&nbsp; 1313192 |
| Ryman Hospitality Properties, Inc. | 78828 | &nbsp;&nbsp; 8284035 |
| Service Properties Trust | 685615 | &nbsp;&nbsp; 1062703 |
| Summit Hotel Properties, Inc. | 138295 | &nbsp;&nbsp; 687326 |
| Sunstone Hotel Investors, Inc. | 230401 | &nbsp;&nbsp; 2262538 |
| Xenia Hotels & Resorts, Inc. | 123481 | &nbsp;&nbsp; 2009036 |
|  |  | &nbsp;&nbsp; 46298698 |
| **Industrial REITs — 12.1%** | **Industrial REITs — 12.1%** |  |
| Americold Realty Trust, Inc. | 369517 | &nbsp;&nbsp; 4519193 |
| EastGroup Properties, Inc. | 68454 | &nbsp;&nbsp; 13772945 |
| First Industrial Realty Trust, Inc. | 165255 | &nbsp;&nbsp; 10247462 |
| Industrial Logistics Properties Trust | 71092 | &nbsp;&nbsp; 528214 |
| Innovative Industrial Properties, Inc. | 34999 | &nbsp;&nbsp; 1898696 |
| Lineage, Inc. | 91087 | &nbsp;&nbsp; 3359288 |
| LXP Industrial Trust | 74600 | &nbsp;&nbsp; 3798632 |
| One Liberty Properties, Inc. | 22944 | &nbsp;&nbsp; 521058 |
| Prologis, Inc. | 1201042 | &nbsp;&nbsp; 170571985 |
| Rexford Industrial Realty, Inc. | 301098 | &nbsp;&nbsp; 10806407 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Industrial REITs (continued)** | **Industrial REITs (continued)** |  |
| STAG Industrial, Inc. | 240903 | &nbsp;&nbsp; $9294038 |
| Terreno Realty Corp. | 130589 | &nbsp;&nbsp; 8514403 |
|  |  | &nbsp;&nbsp; 237832321 |
| **Office REITs — 2.6%** | **Office REITs — 2.6%** |  |
| Brandywine Realty Trust | 223750 | &nbsp;&nbsp; 677963 |
| BXP, Inc. | 204646 | &nbsp;&nbsp; 11963605 |
| COPT Defense Properties | 146336 | &nbsp;&nbsp; 4573000 |
| Cousins Properties, Inc. | 216668 | &nbsp;&nbsp; 5548867 |
| Douglas Emmett, Inc. | 208568 | &nbsp;&nbsp; 2254620 |
| Easterly Government Properties, Inc. | 54351 | &nbsp;&nbsp; 1272357 |
| Empire State Realty Trust, Inc., Class A | 175610 | &nbsp;&nbsp; 978148 |
| Highwoods Properties, Inc. | 139361 | &nbsp;&nbsp; 3387866 |
| Hudson Pacific Properties, Inc.<sup>(a)</sup> | 69256 | &nbsp;&nbsp; 637848 |
| JBG SMITH Properties | 77193 | &nbsp;&nbsp; 1157895 |
| Kilroy Realty Corp. | 152075 | &nbsp;&nbsp; 5058015 |
| NET Lease Office Properties | 17315 | &nbsp;&nbsp; 226134 |
| Peakstone Realty Trust | 47406 | &nbsp;&nbsp; 994578 |
| Piedmont Realty Trust, Inc., Class A<sup>(a)</sup> | 161512 | &nbsp;&nbsp; 1350240 |
| Postal Realty Trust, Inc., Class A | 29846 | &nbsp;&nbsp; 653030 |
| SL Green Realty Corp. | 91913 | &nbsp;&nbsp; 3898030 |
| Vornado Realty Trust | 227011 | &nbsp;&nbsp; 6785359 |
|  |  | &nbsp;&nbsp; 51417555 |
| **Residential REITs — 11.3%** | **Residential REITs — 11.3%** |  |
| American Homes 4 Rent, Class A | 441755 | &nbsp;&nbsp; 14065479 |
| AvalonBay Communities, Inc. | 184128 | &nbsp;&nbsp; 33695424 |
| BRT Apartments Corp. | 12070 | &nbsp;&nbsp; 173446 |
| Camden Property Trust | 136500 | &nbsp;&nbsp; 14335230 |
| Centerspace | 21892 | &nbsp;&nbsp; 1494567 |
| Equity LifeStyle Properties, Inc. | 248597 | &nbsp;&nbsp; 15733704 |
| Equity Residential | 490379 | &nbsp;&nbsp; 32060979 |
| Essex Property Trust, Inc. | 82515 | &nbsp;&nbsp; 21718773 |
| Independence Realty Trust, Inc. | 309065 | &nbsp;&nbsp; 5040850 |
| Invitation Homes, Inc. | 792193 | &nbsp;&nbsp; 22791393 |
| Mid-America Apartment Communities, Inc. | 150629 | &nbsp;&nbsp; 19458254 |
| NexPoint Residential Trust, Inc. | 29002 | &nbsp;&nbsp; 837868 |
| Sun Communities, Inc. | 158558 | &nbsp;&nbsp; 20270055 |
| UDR, Inc. | 427340 | &nbsp;&nbsp; 15529535 |
| UMH Properties, Inc. | 104347 | &nbsp;&nbsp; 1622596 |
| Veris Residential, Inc. | 100328 | &nbsp;&nbsp; 1903222 |
|  |  | &nbsp;&nbsp; 220731375 |
| **Retail REITs — 15.1%** | **Retail REITs — 15.1%** |  |
| Acadia Realty Trust | 168707 | &nbsp;&nbsp; 3647445 |
| Agree Realty Corp. | 146115 | &nbsp;&nbsp; 11266928 |
| Alexander's, Inc. | 2666 | &nbsp;&nbsp; 671725 |
| Brixmor Property Group, Inc. | 393426 | &nbsp;&nbsp; 11838188 |
| CBL & Associates Properties, Inc. | 23389 | &nbsp;&nbsp; 1052973 |
| Curbline Properties Corp. | 124423 | &nbsp;&nbsp; 3434075 |
| Federal Realty Investment Trust | 109936 | &nbsp;&nbsp; 12191903 |
| FrontView REIT, Inc. | 24756 | &nbsp;&nbsp; 438181 |
| Getty Realty Corp. | 68545 | &nbsp;&nbsp; 2270211 |
| InvenTrust Properties Corp. | 99628 | &nbsp;&nbsp; 3200051 |
| Kimco Realty Corp. | 865163 | &nbsp;&nbsp; 20452453 |
| Kite Realty Group Trust | 279599 | &nbsp;&nbsp; 7314310 |
| Macerich Co. | 331112 | &nbsp;&nbsp; 7195064 |
| NETSTREIT Corp. | 109276 | &nbsp;&nbsp; 2247807 |
| NNN REIT, Inc. | 243946 | &nbsp;&nbsp; 10682395 |
| Phillips Edison & Co., Inc. | 162305 | &nbsp;&nbsp; 6518980 |
| Realty Income Corp. | 1185599 | &nbsp;&nbsp; 76162880 |
| Regency Centers Corp. | 233841 | &nbsp;&nbsp; 18204522 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares FTSE NAREIT All Equity REIT Index Fund** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Retail REITs (continued)** | **Retail REITs (continued)** |  |
| Saul Centers, Inc. | 15179 | &nbsp;&nbsp; $522613 |
| Simon Property Group, Inc. | 419496 | &nbsp;&nbsp; 85455530 |
| SITE Centers Corp. | 64666 | &nbsp;&nbsp; 355016 |
| Tanger, Inc. | 146073 | &nbsp;&nbsp; 5416387 |
| Urban Edge Properties | 162611 | &nbsp;&nbsp; 3564433 |
| Whitestone REIT | 57703 | &nbsp;&nbsp; 1092895 |
|  |  | &nbsp;&nbsp; 295196965 |
| **Specialized REITs — 36.4%** | **Specialized REITs — 36.4%** |  |
| American Tower Corp. | 605651 | &nbsp;&nbsp; 110658494 |
| Crown Castle, Inc. | 561760 | &nbsp;&nbsp; 49873053 |
| CubeSmart | 292460 | &nbsp;&nbsp; 11838781 |
| Digital Realty Trust, Inc. | 445488 | &nbsp;&nbsp; 89516359 |
| EPR Properties | 96878 | &nbsp;&nbsp; 5406761 |
| Equinix, Inc. | 126537 | &nbsp;&nbsp; 137018060 |
| Extra Space Storage, Inc. | 272763 | &nbsp;&nbsp; 39095121 |
| Farmland Partners, Inc. | 49785 | &nbsp;&nbsp; 535189 |
| Four Corners Property Trust, Inc. | 135307 | &nbsp;&nbsp; 3459800 |
| Gaming and Leisure Properties, Inc. | 351341 | &nbsp;&nbsp; 17025985 |
| Gladstone Land Corp. | 42746 | &nbsp;&nbsp; 409934 |
| Iron Mountain, Inc. | 379861 | &nbsp;&nbsp; 47858687 |
| Lamar Advertising Co., Class A | 111658 | &nbsp;&nbsp; 15390939 |
| Millrose Properties, Inc., Class A | 198750 | &nbsp;&nbsp; 6095662 |
| National Storage Affiliates Trust | 91041 | &nbsp;&nbsp; 3874705 |
| Outfront Media, Inc. | 190050 | &nbsp;&nbsp; 5863042 |
| Public Storage | 204497 | &nbsp;&nbsp; 61850118 |
| Rayonier, Inc. | 422354 | &nbsp;&nbsp; 8958128 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Specialized REITs (continued)** | **Specialized REITs (continued)** |  |
| Safehold, Inc. | 72046 | &nbsp;&nbsp; $1154177 |
| SBA Communications Corp. | 137123 | &nbsp;&nbsp; 30331608 |
| Smartstop Self Storage REIT, Inc. | 70527 | &nbsp;&nbsp; 2220190 |
| VICI Properties, Inc. | 1405393 | &nbsp;&nbsp; 41037475 |
| Weyerhaeuser Co. | 938391 | &nbsp;&nbsp; 23009347 |
|  |  | &nbsp;&nbsp; 712481615 |
| **Total Long-Term Investments — 99.3%** <br>**(Cost: $1,813,960,685)** | **Total Long-Term Investments — 99.3%** <br>**(Cost: $1,813,960,685)** | &nbsp;&nbsp; 1945780232 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 0.6%** | **Money Market Funds — 0.6%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 3.61%<sup>(b)(c)</sup><br>| 11486614 | &nbsp;&nbsp; 11486614 |
| **Total Short-Term Securities — 0.6%** <br>**(Cost: $11,486,614)** | **Total Short-Term Securities — 0.6%** <br>**(Cost: $11,486,614)** | &nbsp;&nbsp; 11486614 |
| **Total Investments — 99.9%** <br>**(Cost: $1,825,447,299)** | **Total Investments — 99.9%** <br>**(Cost: $1,825,447,299)** | &nbsp;&nbsp; 1957266846 |
| **Other Assets Less Liabilities — 0.1%** | **Other Assets Less Liabilities — 0.1%** | &nbsp;&nbsp; 1868519 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $1959135365 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> Affiliate of the Fund. <br> <sup>(c)</sup> Annualized 7-day yield as of period end.

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*01/31/26*<br>| *Purchases* <br>*at Cost*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*04/30/26*<br>| *Shares* <br>*Held at* <br>*04/30/26*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency Shares | $14537163 | $—<br> $(3050549 )<sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $11486614 | 11486614 | $66505 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

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

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| &nbsp;&nbsp;&nbsp; *Expiration* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<br>| &nbsp;&nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Long Contracts  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Dow Jones U.S. Real Estate Index | &nbsp;&nbsp; 326 | &nbsp;&nbsp;&nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp;&nbsp;&nbsp; $12704 | &nbsp;&nbsp;&nbsp;&nbsp; $584116 |

---

**Equity Swap Contracts** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Entity* | *Counterparty* | *Notional Amount* | &nbsp;&nbsp; *Termination* <br>*Date*<br>| *Spread* | *Reference Rate* | &nbsp;&nbsp; *Payment* <br>*Frequency*<br>| *Value/ Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> | Long Contracts<sup>(a)</sup> |
| Douglas Emmett, Inc. | Bank of America N.A. | $19549 | 02/15/28 | 0.40% | 1D OBFR01 | Monthly  | &nbsp;&nbsp; $1271 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares FTSE NAREIT All Equity REIT Index Fund** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Entity* | *Counterparty* | *Notional Amount* | &nbsp;&nbsp; *Termination*<br> *Date*<br>| *Spread* | *Reference Rate* | &nbsp;&nbsp; *Payment*<br> *Frequency*<br>| *Value/ Unrealized*<br> *Appreciation*<br> *(Depreciation)*<br>|
| Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) | Long Contracts<sup>(a)</sup> (continued) |
| Douglas Emmett, Inc. | HSBC Bank PLC | $8890 | 02/09/28 | 0.40% | 1D OBFR01 | Monthly  | &nbsp;&nbsp; $1121 |
| Total long positions of equity swaps | Total long positions of equity swaps | Total long positions of equity swaps |  |  |  |  | &nbsp;&nbsp; 2392 |
| Net dividends and financing fees | Net dividends and financing fees | Net dividends and financing fees |  |  |  |  | &nbsp;&nbsp; 428 |
| Total equity swap contracts including dividends and financing fees | Total equity swap contracts including dividends and financing fees | Total equity swap contracts including dividends and financing fees |  |  |  |  | &nbsp;&nbsp; $2820 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> The Fund receives the total return on a reference entity and pays 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 position. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. 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;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (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 that may not have a secondary market and/or may have 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; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; $1945780232 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1945780232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 11486614 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11486614 |
|  | &nbsp;&nbsp; $1957266846 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $1957266846 |
| Derivative Financial Instruments<sup>(a)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; $584116 | &nbsp;&nbsp;&nbsp;&nbsp; $2820 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $586936 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| 1D OBFR01 | USD - 1D Overnight Bank Funding Rate |
| REIT | Real Estate Investment Trust |

---

------

## 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:** iShares FTSE NAREIT All Equity REIT Index Fund

- **b. EDGAR series identifier (if any):** S000087852

- **c. LEI of Series:** 5299003R7QVUX5J8F342

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

- **a. Date of fiscal year-end:** 2027-01-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $1959332380.39

**Total Liabilities:** $196923.09

**Net Assets:** $1959135457.30

**Cash Not Reported:** $543111.07

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253866 | 7.44%                | -6.15%               | 9.04%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2195651.03             | $152841588.29                              |
| Month 2  | $-14170749.80            | $-122108345.70                             |
| Month 3  | $-12436320.71            | $171363665.24                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Independence Realty Trust Inc                  | Independence Realty Trust Inc                    | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               |  | US        |    309065 | NS      | $5040850.15   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc                 | Omega Healthcare Investors Inc                   | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               |  | US        |    381861 | NS      | $17936011.17  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                             | Equity Residential                               | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |    490379 | NS      | $32060979.02  | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Chiron Real Estate Inc                         | Chiron Real Estate Inc                           | CUSIP: 37954A303<br>LEI: 549300HFRIPQDYU3GU60 | Long             | EC               |  | US        |     16736 | NS      | $586931.52    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                  | Welltower Inc                                    | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               |  | US        |    890326 | NS      | $193503452.84 | 9.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc                                     | Tanger Inc                                       | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               |  | US        |    146073 | NS      | $5416386.84   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc                       | Highwoods Properties Inc                         | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               |  | US        |    139361 | NS      | $3387865.91   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                             | Realty Income Corp                               | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |   1185599 | NS      | $76162879.76  | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| One Liberty Properties Inc                     | One Liberty Properties Inc                       | CUSIP: 682406103<br>LEI: 549300QII1CQZGZBZR14 | Long             | EC               |  | US        |     22944 | NS      | $521058.24    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust Inc          | Essential Properties Realty Trust Inc            | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               |  | US        |    253638 | NS      | $7971842.34   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Outfront Media Inc                             | Outfront Media Inc                               | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Long             | EC               |  | US        |    190050 | NS      | $5863042.50   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc                | Four Corners Property Trust Inc                  | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               |  | US        |    135307 | NS      | $3459799.99   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey Inc                                   | WP Carey Inc                                     | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               |  | US        |    280631 | NS      | $20466418.83  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                                        | UDR Inc                                          | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               |  | US        |    427340 | NS      | $15529535.60  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| SITE Centers Corp                              | SITE Centers Corp                                | CUSIP: 82981J851<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               |  | US        |     64666 | NS      | $355016.34    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sila Realty Trust Inc                          | Sila Realty Trust Inc                            | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               |  | US        |     72304 | NS      | $2200210.72   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                     | Ventas Inc                                       | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               |  | US        |    606240 | NS      | $53264246.40  | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties Inc                             | UMH Properties Inc                               | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               |  | US        |    104347 | NS      | $1622595.85   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Diversified Real Estate Trust         | NexPoint Diversified Real Estate Trust           | CUSIP: 65340G205<br>LEI: 5493008KGR2NU3OXMR64 | Long             | EC               |  | US        |     49277 | NS      | $267081.34    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Easterly Government Properties Inc             | Easterly Government Properties Inc               | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               |  | US        |     54351 | NS      | $1272356.91   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc                     | Americold Realty Trust Inc                       | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               |  | US        |    369517 | NS      | $4519192.91   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp                           | Regency Centers Corp                             | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |    233841 | NS      | $18204521.85  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease Inc                           | Global Net Lease Inc                             | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               |  | US        |    251870 | NS      | $2407877.20   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Saul Centers Inc                               | Saul Centers Inc                                 | CUSIP: 804395101<br>LEI: N/A                  | Long             | EC               |  | US        |     15179 | NS      | $522612.97    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitestone REIT                                | Whitestone REIT                                  | CUSIP: 966084204<br>LEI: N/A                  | Long             | EC               |  | US        |     57703 | NS      | $1092894.82   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Realty Income Trust           | Universal Health Realty Income Trust             | CUSIP: 91359E105<br>LEI: 549300L4MWZL4IH6H172 | Long             | EC               |  | US        |     16753 | NS      | $681847.10    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                                      | CubeSmart                                        | CUSIP: 229663109<br>LEI: 549300MPHKO3I3FJRA97 | Long             | EC               |  | US        |    292460 | NS      | $11838780.80  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                            | Sun Communities Inc                              | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               |  | US        |    158558 | NS      | $20270054.72  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerspace                                    | Centerspace                                      | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               |  | US        |     21892 | NS      | $1494566.84   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Farmland Partners Inc                          | Farmland Partners Inc                            | CUSIP: 31154R109<br>LEI: 549300LB188CHPZ4IL37 | Long             | EC               |  | US        |     49785 | NS      | $535188.75    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                              | RLJ Lodging Trust                                | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               |  | US        |    159368 | NS      | $1313192.32   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BRT Apartments Corp                            | BRT Apartments Corp                              | CUSIP: 055645303<br>LEI: N/A                  | Long             | EC               |  | US        |     12070 | NS      | $173445.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                                        | BXP Inc                                          | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |    204646 | NS      | $11963605.16  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                   | Prologis Inc                                     | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |   1201042 | NS      | $170571984.84 | 8.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc                       | Phillips Edison & Co Inc                         | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               |  | US        |    162305 | NS      | $6518980.33   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                          | American Homes 4 Rent                            | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               |  | US        |    441755 | NS      | $14065479.20  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovative Industrial Properties Inc           | Innovative Industrial Properties Inc             | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               |  | US        |     34999 | NS      | $1898695.75   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc              | Gaming and Leisure Properties Inc                | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               |  | US        |    351341 | NS      | $17025984.86  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co                     | DiamondRock Hospitality Co                       | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               |  | US        |    258783 | NS      | $2639586.60   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Realty Trust                            | Acadia Realty Trust                              | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               |  | US        |    168707 | NS      | $3647445.34   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust Inc                  | Empire State Realty Trust Inc                    | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               |  | US        |    175610 | NS      | $978147.70    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                                   | Rayonier Inc                                     | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               |  | US        |    422354 | NS      | $8958128.34   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp                            | Terreno Realty Corp                              | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               |  | US        |    130589 | NS      | $8514402.80   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Safehold Inc                                   | Safehold Inc                                     | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               |  | US        |     72046 | NS      | $1154176.92   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp                     | InvenTrust Properties Corp                       | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               |  | US        |     99628 | NS      | $3200051.36   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                           | LXP Industrial Trust                             | CUSIP: 529043408<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               |  | US        |     74600 | NS      | $3798632.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts Inc                     | Xenia Hotels & Resorts Inc                       | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               |  | US        |    123481 | NS      | $2009035.87   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                            | American Tower Corp                              | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |    605651 | NS      | $110658494.21 | 5.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                        | Kite Realty Group Trust                          | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               |  | US        |    279599 | NS      | $7314309.84   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trust                | Federal Realty Investment Trust                  | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               |  | US        |    109936 | NS      | $12191902.40  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities Inc            | Alexandria Real Estate Equities Inc              | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               |  | US        |    221524 | NS      | $8973937.24   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Braemar Hotels & Resorts Inc                   | Braemar Hotels & Resorts Inc                     | CUSIP: 10482B101<br>LEI: 549300JDUUEBN868C776 | Long             | EC               |  | US        |     78379 | NS      | $189677.18    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Hudson Pacific Properties Inc                  | Hudson Pacific Properties Inc                    | CUSIP: 444097406<br>LEI: 529900EURZA5HRSXQ389 | Long             | EC               |  | US        |     69256 | NS      | $637847.76    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Brandywine Realty Trust                        | Brandywine Realty Trust                          | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Long             | EC               |  | US        |    223750 | NS      | $677962.50    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties Inc               | Ryman Hospitality Properties Inc                 | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               |  | US        |     78828 | NS      | $8284034.52   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Diversified Healthcare Trust                   | Diversified Healthcare Trust                     | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               |  | US        |    285228 | NS      | $2150619.12   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| JBG SMITH Properties                           | JBG SMITH Properties                             | CUSIP: 46590V100<br>LEI: N/A                  | Long             | EC               |  | US        |     77193 | NS      | $1157895.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust Inc                      | American Assets Trust Inc                        | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               |  | US        |     67318 | NS      | $1396175.32   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Gladstone Commercial Corp                      | Gladstone Commercial Corp                        | CUSIP: 376536108<br>LEI: 529900EVVV534W8R0T32 | Long             | EC               |  | US        |     62143 | NS      | $783623.23    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                                    | Lineage Inc                                      | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               |  | US        |     91087 | NS      | $3359288.56   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                           | Lamar Advertising Co                             | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               |  | US        |    111658 | NS      | $15390938.72  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                               | Crown Castle Inc                                 | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |    561760 | NS      | $49873052.80  | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                     | Brixmor Property Group Inc                       | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               |  | US        |    393426 | NS      | $11838188.34  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| LTC Properties Inc                             | LTC Properties Inc                               | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               |  | US        |     59917 | NS      | $2290027.74   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties                        | COPT Defense Properties                          | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               |  | US        |    146336 | NS      | $4573000.00   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CBL & Associates Properties Inc                | CBL & Associates Properties Inc                  | CUSIP: 124830878<br>LEI: 529900EIVFBRS4PUBZ13 | Long             | EC               |  | US        |     23389 | NS      | $1052972.78   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                 | Public Storage                                   | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |    204497 | NS      | $61850117.65  | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Bank PLC                                  | DOUGLAS EMMETT REIT INC                          | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DE               |  | US        |       926 | OU      | $10010.06     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| American Healthcare REIT Inc                   | American Healthcare REIT Inc                     | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               |  | US        |    228575 | NS      | $11607038.50  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties Inc                        | Millrose Properties Inc                          | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               |  | US        |    198750 | NS      | $6095662.50   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                      | Host Hotels & Resorts Inc                        | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    887685 | NS      | $18756784.05  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc                   | Sunstone Hotel Investors Inc                     | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               |  | US        |    230401 | NS      | $2262537.82   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Peakstone Realty Trust                         | Peakstone Realty Trust                           | CUSIP: 39818P799<br>LEI: 549300EZQXWQI2YL1T80 | Long             | EC               |  | US        |     47406 | NS      | $994577.88    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                                 | EPR Properties                                   | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               |  | US        |     96878 | NS      | $5406761.18   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc                       | Broadstone Net Lease Inc                         | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               |  | US        |    243619 | NS      | $4823656.20   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                             | Douglas Emmett Inc                               | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               |  | US        |    208568 | NS      | $2254620.08   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                     | Sabra Health Care REIT Inc                       | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               |  | US        |    320249 | NS      | $6616344.34   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| NET Lease Office Properties                    | NET Lease Office Properties                      | CUSIP: 64110Y108<br>LEI: N/A                  | Long             | EC               |  | US        |     17315 | NS      | $226133.90    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                              | Kimco Realty Corp                                | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |    865163 | NS      | $20452453.32  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                        | Pebblebrook Hotel Trust                          | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               |  | US        |    142148 | NS      | $1997179.40   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust Inc                 | Community Healthcare Trust Inc                   | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               |  | US        |     33355 | NS      | $574373.10    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust Inc              | First Industrial Realty Trust Inc                | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               |  | US        |    165255 | NS      | $10247462.55  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors Inc                  | National Health Investors Inc                    | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               |  | US        |     60404 | NS      | $4645671.64   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                       | Essex Property Trust Inc                         | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |     82515 | NS      | $21718773.15  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                          | Camden Property Trust                            | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               |  | US        |    136500 | NS      | $14335230.00  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander's Inc                                | Alexander's Inc                                  | CUSIP: 014752109<br>LEI: 549300TZM28P04U5R635 | Long             | EC               |  | US        |      2666 | NS      | $671725.36    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                              | Iron Mountain Inc                                | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |    379861 | NS      | $47858687.39  | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                           | Vornado Realty Trust                             | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               |  | US        |    227011 | NS      | $6785358.79   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Curbline Properties Corp                       | Curbline Properties Corp                         | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               |  | US        |    124423 | NS      | $3434074.80   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpine Income Property Trust Inc               | Alpine Income Property Trust Inc                 | CUSIP: 02083X103<br>LEI: 254900VQGUBS1J4C4N33 | Long             | EC               |  | US        |     15455 | NS      | $290554.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                                | Macerich Co/The                                  | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |    331112 | NS      | $7195063.76   | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                        | SBA Communications Corp                          | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |    137123 | NS      | $30331607.60  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties Inc                    | Summit Hotel Properties Inc                      | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Long             | EC               |  | US        |    138295 | NS      | $687326.15    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Realty Trust Inc                      | Piedmont Realty Trust Inc                        | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               |  | US        |    161512 | NS      | $1350240.32   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc                      | AvalonBay Communities Inc                        | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               |  | US        |    184128 | NS      | $33695424.00  | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp                              | Getty Realty Corp                                | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               |  | US        |     68545 | NS      | $2270210.40   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                          | Urban Edge Properties                            | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               |  | US        |    162611 | NS      | $3564433.12   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| FrontView REIT Inc                             | FrontView REIT Inc                               | CUSIP: 35922N100<br>LEI: N/A                  | Long             | EC               |  | US        |     24756 | NS      | $438181.20    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc                     | Apple Hospitality REIT Inc                       | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               |  | US        |    286376 | NS      | $3857484.72   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial Logistics Properties Trust          | Industrial Logistics Properties Trust            | CUSIP: 456237106<br>LEI: 5493004XH9PJW009HR47 | Long             | EC               |  | US        |     71092 | NS      | $528213.56    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Trust              | National Storage Affiliates Trust                | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               |  | US        |     91041 | NS      | $3874704.96   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp                             | Kilroy Realty Corp                               | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               |  | US        |    152075 | NS      | $5058014.50   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | DJ US REAL ESTATE JUN26                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DE               |  | US        |       310 | NC      | $584208.13    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                            | VICI Properties Inc                              | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |   1405393 | NS      | $41037475.60  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Merrill Lynch International                    | DOUGLAS EMMETT REIT INC                          | CUSIP: 000000000<br>LEI: GGDZP1UYGU9STUHRDP48 | N/A              | DE               |  | US        |      1926 | OU      | $20820.06     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NETSTREIT Corp                                 | NETSTREIT Corp                                   | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               |  | US        |    109276 | NS      | $2247807.32   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                       | Simon Property Group Inc                         | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               |  | US        |    419496 | NS      | $85455530.16  | 4.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Smartstop Self Storage REIT Inc                | Smartstop Self Storage REIT Inc                  | CUSIP: 83192D402<br>LEI: 549300EC266625K12S42 | Long             | EC               |  | US        |     70527 | NS      | $2220189.96   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Service Properties Trust                       | Service Properties Trust                         | CUSIP: 81761L102<br>LEI: 529900IS770AG1K9QG27 | Long             | EC               |  | US        |    685615 | NS      | $1062703.25   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chatham Lodging Trust                          | Chatham Lodging Trust                            | CUSIP: 16208T102<br>LEI: N/A                  | Long             | EC               |  | US        |     58787 | NS      | $510271.16    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                              | Agree Realty Corp                                | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               |  | US        |    146115 | NS      | $11266927.65  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                                   | NNN REIT Inc                                     | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               |  | US        |    243946 | NS      | $10682395.34  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| AH Realty Trust Inc                            | AH Realty Trust Inc                              | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             | EC               |  | US        |    103939 | NS      | $632988.51    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Residential Trust Inc                 | NexPoint Residential Trust Inc                   | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               |  | US        |     29002 | NS      | $837867.78    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                       | EastGroup Properties Inc                         | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               |  | US        |     68454 | NS      | $13772944.80  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc                   | Medical Properties Trust Inc                     | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               |  | US        |    643372 | NS      | $3178257.68   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust Inc                        | Postal Realty Trust Inc                          | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               |  | US        |     29846 | NS      | $653030.48    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities Inc          | Mid-America Apartment Communities Inc            | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |    150629 | NS      | $19458254.22  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                       | Digital Realty Trust Inc                         | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |    445488 | NS      | $89516358.72  | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Veris Residential Inc                          | Veris Residential Inc                            | CUSIP: 554489104<br>LEI: 254900KTVBRYJCQU2J23 | Long             | EC               |  | US        |    100328 | NS      | $1903222.16   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc                            | STAG Industrial Inc                              | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               |  | US        |    240903 | NS      | $9294037.74   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                                | Weyerhaeuser Co                                  | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               |  | US        |    938391 | NS      | $23009347.32  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                        | Extra Space Storage Inc                          | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    272763 | NS      | $39095120.79  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                  | Rexford Industrial Realty Inc                    | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               |  | US        |    301098 | NS      | $10806407.22  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp                           | SL Green Realty Corp                             | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               |  | US        |     91913 | NS      | $3898030.33   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Gladstone Land Corp                            | Gladstone Land Corp                              | CUSIP: 376549101<br>LEI: 54930002B3Q17H38FG74 | Long             | EC               |  | US        |     42746 | NS      | $409934.14    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc                    | Healthcare Realty Trust Inc                      | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               |  | US        |    422889 | NS      | $7908024.30   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                    | Equinix Inc                                      | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |    126537 | NS      | $137018059.71 | 6.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                      | Healthpeak Properties Inc                        | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               |  | US        |    896774 | NS      | $14500835.58  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                         | Cousins Properties Inc                           | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               |  | US        |    216668 | NS      | $5548867.48   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                | Equity LifeStyle Properties Inc                  | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |    248597 | NS      | $15733704.13  | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc                             | CareTrust REIT Inc                               | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               |  | US        |    287504 | NS      | $11342032.80  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CTO Realty Growth Inc                          | CTO Realty Growth Inc                            | CUSIP: 22948Q101<br>LEI: 254900ZQ99OFO1WXS678 | Long             | EC               |  | US        |     40574 | NS      | $821623.50    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc                      | Park Hotels & Resorts Inc                        | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               |  | US        |    237915 | NS      | $2728885.05   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                           | Invitation Homes Inc                             | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               |  | US        |    792193 | NS      | $22791392.61  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | BlackRock Cash Funds: Treasury, SL Agency Shares | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |  11486614 | NS      | $11486613.92  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-29

**Name of Applicant:** BlackRock Funds

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer