# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001752724-25-152584
**Filing Date:** 2025-6
**Character Count:** 97268
**Document Hash:** 19ca8f79003b98210170b1593636d5f2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-152584.hdr.sgml**: 20250624

**ACCESSION NUMBER**: 0001752724-25-152584

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250131

**FILED AS OF DATE**: 20250624

**DATE AS OF CHANGE**: 20250624

**PERIOD START**: 20251031

**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/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05742
- **FILM NUMBER:** 251067350

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

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

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

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

January 31, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

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

---

| |
|:---|
| **BlackRock Funds**<sup>SM</sup> |
| • iShares Enhanced Roll Yield Index Fund |

---

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

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

------

Consolidated Schedule of Investments (unaudited)

January 31, 2025

**iShares Enhanced Roll Yield Index Fund** 

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | |
|:---|:---|:---|
| *Security* | *Par* <br>*(000)*<br>| *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Certificates of Deposit — 20.6%** | **Certificates of Deposit — 20.6%** |  |
| Bank of America |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/02/26 | $2540 | &nbsp;&nbsp; $2540306 |
| &nbsp;&nbsp;&nbsp; 4.49%, 01/13/26 | 2250 | &nbsp;&nbsp; 2250908 |
| Bank of Montreal, 4.74%, 11/13/25<sup>(a)</sup> | 890 | &nbsp;&nbsp; 890557 |
| Bank of Nova Scotia<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.59%, 04/04/25 | 3000 | &nbsp;&nbsp; 3001019 |
| &nbsp;&nbsp;&nbsp; 0.00%, 01/02/26 | 3000 | &nbsp;&nbsp; 3001177 |
| &nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce, 4.54%, <br> 03/06/25<sup>(a)</sup><br>| 3000 | &nbsp;&nbsp; 3000649 |
| Cooperatieve Centrale, 4.43%, 10/14/25 | 6750 | &nbsp;&nbsp; 6748238 |
| DG Bank, 4.41%, 08/07/25 | 3500 | &nbsp;&nbsp; 3500139 |
| HSBC Bank USA NA, 5.20%, 12/04/25<sup>(a)</sup> | 1750 | &nbsp;&nbsp; 1751421 |
| &nbsp;&nbsp;&nbsp; Mitsubishi UFJ Trust & Banking Corp., 4.59%, <br> 08/08/25<sup>(a)</sup><br>| 3000 | &nbsp;&nbsp; 3002040 |
| Mizuho Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 4.60%, 07/08/25<sup>(a)</sup> | 3400 | &nbsp;&nbsp; 3400565 |
| &nbsp;&nbsp;&nbsp; 4.61%, 01/14/26 | 2640 | &nbsp;&nbsp; 2642534 |
| MUFG Bank Ltd., 4.60%, 07/07/25<sup>(a)</sup> | 4000 | &nbsp;&nbsp; 4000062 |
| Nordea Bank Abp<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.53%, 04/04/25 | 3000 | &nbsp;&nbsp; 3000591 |
| &nbsp;&nbsp;&nbsp; 4.57%, 07/14/25 | 2000 | &nbsp;&nbsp; 2000086 |
| Oversea Chinese Bank Co., 4.53%, 06/05/25 | 2380 | &nbsp;&nbsp; 2380399 |
| Royal Bank of Canada |  |  |
| &nbsp;&nbsp;&nbsp; 4.60%, 11/25/25 | 1400 | &nbsp;&nbsp; 1400368 |
| &nbsp;&nbsp;&nbsp; 4.44%, 12/12/25 | 2000 | &nbsp;&nbsp; 1999047 |
| Standard Chartered Bank, 0.00%, 09/30/25<sup>(a)</sup> | 3500 | &nbsp;&nbsp; 3500615 |
| Sumitomo Mitsui Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.54%, 06/09/25 | 2380 | &nbsp;&nbsp; 2380439 |
| &nbsp;&nbsp;&nbsp; 4.61%, 07/07/25<sup>(a)</sup> | 4000 | &nbsp;&nbsp; 4000331 |
| Sumitomo Mitsui Banking Corp./New York |  |  |
| &nbsp;&nbsp;&nbsp; 4.43%, 05/30/25 | 1450 | &nbsp;&nbsp; 1449988 |
| &nbsp;&nbsp;&nbsp; 4.60%, 06/11/25<sup>(a)</sup> | 720 | &nbsp;&nbsp; 720050 |
| Sumitomo Mitsui Trust Bank Ltd.<sup>(a)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.54%, 02/07/25 | 4300 | &nbsp;&nbsp; 4300105 |
| &nbsp;&nbsp;&nbsp; 4.55%, 04/04/25 | 1250 | &nbsp;&nbsp; 1250143 |
| Svenska Handelsbanken |  |  |
| &nbsp;&nbsp;&nbsp; 4.42%, 11/07/25 | 3380 | &nbsp;&nbsp; 3379770 |
| &nbsp;&nbsp;&nbsp; 4.60%, 11/12/25 | 900 | &nbsp;&nbsp; 900956 |
| &nbsp;&nbsp;&nbsp; 4.66%, 01/13/26<sup>(a)</sup> | 2580 | &nbsp;&nbsp; 2580474 |
| Toronto-Dominion Bank, 4.64%, 10/01/25<sup>(a)</sup> | 3000 | &nbsp;&nbsp; 3000699 |
|  |  | &nbsp;&nbsp; 77973676 |
| **Commercial Paper — 3.6%** | **Commercial Paper — 3.6%** |  |
| Aquitaine Funding Co. LLC, 4.76%, 03/20/25<sup>(b)</sup> | 2250 | &nbsp;&nbsp; 2236695 |
| Cisco Systems, Inc., 4.59%, 05/02/25<sup>(b)</sup> | 1150 | &nbsp;&nbsp; 1137498 |
| Citigroup Global Markets, Inc., 4.60%, 11/14/25<sup>(b)</sup> | 1010 | &nbsp;&nbsp; 974981 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Commercial Paper (continued)** | **Commercial Paper (continued)** |  |
| DNB Bank ASA, 4.59%, 11/10/25<sup>(b)</sup> | $940 | &nbsp;&nbsp; $908688 |
| Ionic Funding LLC, 4.54%, 03/18/25<sup>(b)</sup> | 1500 | &nbsp;&nbsp; 1491524 |
| Macquarie Bank Ltd., 4.62%, 01/13/26<sup>(b)</sup> | 2760 | &nbsp;&nbsp; 2645011 |
| Volvo Treasury North America LP, 4.43%, 04/01/25<sup>(b)</sup> | 4460 | &nbsp;&nbsp; 4426104 |
|  |  | &nbsp;&nbsp; 13820501 |

---

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

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Money Market Funds — 3.5%** | **Money Market Funds — 3.5%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.35%<sup>(c)(d)</sup><br>| 13104923 | &nbsp;&nbsp; 13104923 |

---

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

---

| | | |
|:---|:---|:---|
|  | *Par* <br>*(000)*<br>|  |
| **U.S. Treasury Obligations — 65.7%** | **U.S. Treasury Obligations — 65.7%** |  |
| U.S. Treasury Bills<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.31%, 02/04/25 - 11/28/25 | $17000 | &nbsp;&nbsp; 16666207 |
| &nbsp;&nbsp;&nbsp; 4.55%, 02/06/25 | 14000 | &nbsp;&nbsp; 13995088 |
| &nbsp;&nbsp;&nbsp; 4.34%, 02/20/25 | 15000 | &nbsp;&nbsp; 14969905 |
| &nbsp;&nbsp;&nbsp; 4.32%, 02/25/25 - 06/12/25 | 40000 | &nbsp;&nbsp; 39727908 |
| &nbsp;&nbsp;&nbsp; 4.50%, 03/04/25 - 03/18/25 | 15000 | &nbsp;&nbsp; 14940497 |
| &nbsp;&nbsp;&nbsp; 4.46%, 04/01/25 - 05/29/25 | 40000 | &nbsp;&nbsp; 39578260 |
| &nbsp;&nbsp;&nbsp; 4.33%, 04/03/25 | 27500 | &nbsp;&nbsp; 27309506 |
| &nbsp;&nbsp;&nbsp; 4.42%, 05/01/25 - 05/08/25 | 25000 | &nbsp;&nbsp; 24734815 |
| &nbsp;&nbsp;&nbsp; 4.30%, 05/06/25 - 07/31/25 | 25000 | &nbsp;&nbsp; 24683085 |
| &nbsp;&nbsp;&nbsp; 4.43%, 05/15/25 | 2500 | &nbsp;&nbsp; 2470664 |
| &nbsp;&nbsp;&nbsp; 4.22%, 10/30/25 | 10000 | &nbsp;&nbsp; 9698907 |
| &nbsp;&nbsp;&nbsp; 4.14%, 01/22/26 | 20000 | &nbsp;&nbsp; 19217504 |
|  |  | &nbsp;&nbsp; 247992346 |
| **Total Short-Term Securities — 93.4%** <br>**(Cost: $352,793,400)** | **Total Short-Term Securities — 93.4%** <br>**(Cost: $352,793,400)** | &nbsp;&nbsp; 352891446 |
| **Total Investments — 93.4%** <br>**(Cost: $352,793,400)** | **Total Investments — 93.4%** <br>**(Cost: $352,793,400)** | &nbsp;&nbsp; 352891446 |
| **Other Assets Less Liabilities — 6.6%** | **Other Assets Less Liabilities — 6.6%** | &nbsp;&nbsp; 24768247 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $377659693 |

---

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

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

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

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

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*11/01/24*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*01/31/25*<br>| *Shares* <br>*Held at* <br>*01/31/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Treasury, SL Agency Shares | $—<br> $13104923 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $13104923 | 13104923 | $214876 | $— |

---

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

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

------

Consolidated Schedule of Investments (unaudited)(continued)

January 31, 2025

**iShares Enhanced Roll Yield Index Fund** 

**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; Sugar 11<sup>(a)</sup> | &nbsp;&nbsp; 114 | &nbsp;&nbsp;&nbsp;&nbsp; 02/28/25 | &nbsp;&nbsp;&nbsp;&nbsp; $2471 | &nbsp;&nbsp;&nbsp;&nbsp; $(160122)<br>|
| &nbsp;&nbsp;&nbsp; Cotton No.2<sup>(a)</sup> | &nbsp;&nbsp; 66 | &nbsp;&nbsp;&nbsp;&nbsp; 03/07/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2174 | &nbsp;&nbsp;&nbsp;&nbsp; (153813)<br>|
| &nbsp;&nbsp;&nbsp; Corn<sup>(a)</sup> | &nbsp;&nbsp; 157 | &nbsp;&nbsp;&nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3784 | &nbsp;&nbsp;&nbsp;&nbsp; 339043 |
| &nbsp;&nbsp;&nbsp; KC HRW Wheat<sup>(a)</sup> | &nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1940 | &nbsp;&nbsp;&nbsp;&nbsp; 72396 |
| &nbsp;&nbsp;&nbsp; Soybean<sup>(a)</sup> | &nbsp;&nbsp; 122 | &nbsp;&nbsp;&nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6356 | &nbsp;&nbsp;&nbsp;&nbsp; 242961 |
| &nbsp;&nbsp;&nbsp; Soybean Meal<sup>(a)</sup> | &nbsp;&nbsp; 89 | &nbsp;&nbsp;&nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2680 | &nbsp;&nbsp;&nbsp;&nbsp; (20362)<br>|
| &nbsp;&nbsp;&nbsp; Soybean Oil<sup>(a)</sup> | &nbsp;&nbsp; 107 | &nbsp;&nbsp;&nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2960 | &nbsp;&nbsp;&nbsp;&nbsp; 206924 |
| &nbsp;&nbsp;&nbsp; Wheat<sup>(a)</sup> | &nbsp;&nbsp; 72 | &nbsp;&nbsp;&nbsp;&nbsp; 03/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2014 | &nbsp;&nbsp;&nbsp;&nbsp; (2911)<br>|
| &nbsp;&nbsp;&nbsp; Lead<sup>(a)</sup> | &nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1789 | &nbsp;&nbsp;&nbsp;&nbsp; (86453)<br>|
| &nbsp;&nbsp;&nbsp; LME Aluminium Premiums<sup>(a)</sup> | &nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2998 | &nbsp;&nbsp;&nbsp;&nbsp; 20662 |
| &nbsp;&nbsp;&nbsp; LME Tin<sup>(a)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1803 | &nbsp;&nbsp;&nbsp;&nbsp; 15692 |
| &nbsp;&nbsp;&nbsp; Nickel<sup>(a)</sup> | &nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1995 | &nbsp;&nbsp;&nbsp;&nbsp; (88784)<br>|
| &nbsp;&nbsp;&nbsp; Zinc<sup>(a)</sup> | &nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 03/17/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2178 | &nbsp;&nbsp;&nbsp;&nbsp; (280029)<br>|
| &nbsp;&nbsp;&nbsp; Coffee<sup>(a)</sup> | &nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; 03/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2692 | &nbsp;&nbsp;&nbsp;&nbsp; 442781 |
| &nbsp;&nbsp;&nbsp; WTI Crude Oil<sup>(a)</sup> | &nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp;&nbsp; 03/20/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6838 | &nbsp;&nbsp;&nbsp;&nbsp; 323429 |
| &nbsp;&nbsp;&nbsp; Cattle Feeder<sup>(a)</sup> | &nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 03/27/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1516 | &nbsp;&nbsp;&nbsp;&nbsp; 125242 |
| &nbsp;&nbsp;&nbsp; Copper<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 03/27/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3851 | &nbsp;&nbsp;&nbsp;&nbsp; 54304 |
| &nbsp;&nbsp;&nbsp; Natural Gas<sup>(a)</sup> | &nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp; 03/27/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1842 | &nbsp;&nbsp;&nbsp;&nbsp; (3050)<br>|
| &nbsp;&nbsp;&nbsp; Silver<sup>(a)</sup> | &nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 03/27/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4678 | &nbsp;&nbsp;&nbsp;&nbsp; 197537 |
| &nbsp;&nbsp;&nbsp; Brent Crude Oil<sup>(a)</sup> | &nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp;&nbsp;&nbsp; 11463 | &nbsp;&nbsp;&nbsp;&nbsp; 333155 |
| &nbsp;&nbsp;&nbsp; Gasoline RBOB<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3455 | &nbsp;&nbsp;&nbsp;&nbsp; 154848 |
| &nbsp;&nbsp;&nbsp; NY Harbor ULSD<sup>(a)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 03/31/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3455 | &nbsp;&nbsp;&nbsp;&nbsp; 175098 |
| &nbsp;&nbsp;&nbsp; Low Sulphur Gas<sup>(a)</sup> | &nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 04/10/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3991 | &nbsp;&nbsp;&nbsp;&nbsp; 144510 |
| &nbsp;&nbsp;&nbsp; Lead<sup>(a)</sup> | &nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1798 | &nbsp;&nbsp;&nbsp;&nbsp; (77163)<br>|
| &nbsp;&nbsp;&nbsp; Lean Hogs<sup>(a)</sup> | &nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2060 | &nbsp;&nbsp;&nbsp;&nbsp; 33409 |
| &nbsp;&nbsp;&nbsp; LME Aluminium Premiums<sup>(a)</sup> | &nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2986 | &nbsp;&nbsp;&nbsp;&nbsp; 7938 |
| &nbsp;&nbsp;&nbsp; LME Tin<sup>(a)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1806 | &nbsp;&nbsp;&nbsp;&nbsp; 37859 |
| &nbsp;&nbsp;&nbsp; Nickel<sup>(a)</sup> | &nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2004 | &nbsp;&nbsp;&nbsp;&nbsp; (94389)<br>|
| &nbsp;&nbsp;&nbsp; Zinc<sup>(a)</sup> | &nbsp;&nbsp; 32 | &nbsp;&nbsp;&nbsp;&nbsp; 04/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2188 | &nbsp;&nbsp;&nbsp;&nbsp; (252880)<br>|
| &nbsp;&nbsp;&nbsp; Cattle Feeder<sup>(a)</sup> | &nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 04/17/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1513 | &nbsp;&nbsp;&nbsp;&nbsp; 118077 |
| &nbsp;&nbsp;&nbsp; WTI Crude Oil<sup>(a)</sup> | &nbsp;&nbsp; 96 | &nbsp;&nbsp;&nbsp;&nbsp; 04/22/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6852 | &nbsp;&nbsp;&nbsp;&nbsp; 259070 |
| &nbsp;&nbsp;&nbsp; Copper<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 04/28/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3871 | &nbsp;&nbsp;&nbsp;&nbsp; 78913 |
| &nbsp;&nbsp;&nbsp; Gold 100 OZ<sup>(a)</sup> | &nbsp;&nbsp; 59 | &nbsp;&nbsp;&nbsp;&nbsp; 04/28/25 | &nbsp;&nbsp;&nbsp;&nbsp; 16727 | &nbsp;&nbsp;&nbsp;&nbsp; 798749 |
| &nbsp;&nbsp;&nbsp; Natural Gas<sup>(a)</sup> | &nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 04/28/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1807 | &nbsp;&nbsp;&nbsp;&nbsp; 12446 |
| &nbsp;&nbsp;&nbsp; Brent Crude Oil<sup>(a)</sup> | &nbsp;&nbsp; 153 | &nbsp;&nbsp;&nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 11359 | &nbsp;&nbsp;&nbsp;&nbsp; 236331 |
| &nbsp;&nbsp;&nbsp; Gasoline RBOB<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3458 | &nbsp;&nbsp;&nbsp;&nbsp; 142941 |
| &nbsp;&nbsp;&nbsp; Live Cattle<sup>(a)</sup> | &nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2104 | &nbsp;&nbsp;&nbsp;&nbsp; 123639 |
| &nbsp;&nbsp;&nbsp; NY Harbor ULSD<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3505 | &nbsp;&nbsp;&nbsp;&nbsp; 143058 |
| &nbsp;&nbsp;&nbsp; Sugar 11<sup>(a)</sup> | &nbsp;&nbsp; 132 | &nbsp;&nbsp;&nbsp;&nbsp; 04/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2643 | &nbsp;&nbsp;&nbsp;&nbsp; (187032)<br>|
| &nbsp;&nbsp;&nbsp; Cotton No.2<sup>(a)</sup> | &nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; 05/07/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2145 | &nbsp;&nbsp;&nbsp;&nbsp; (150709)<br>|
| &nbsp;&nbsp;&nbsp; Low Sulphur Gas<sup>(a)</sup> | &nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 05/12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3949 | &nbsp;&nbsp;&nbsp;&nbsp; 111338 |
| &nbsp;&nbsp;&nbsp; Corn<sup>(a)</sup> | &nbsp;&nbsp; 152 | &nbsp;&nbsp;&nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3747 | &nbsp;&nbsp;&nbsp;&nbsp; 355682 |
| &nbsp;&nbsp;&nbsp; KC HRW Wheat<sup>(a)</sup> | &nbsp;&nbsp; 65 | &nbsp;&nbsp;&nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1914 | &nbsp;&nbsp;&nbsp;&nbsp; 71410 |
| &nbsp;&nbsp;&nbsp; Soybean<sup>(a)</sup> | &nbsp;&nbsp; 119 | &nbsp;&nbsp;&nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6292 | &nbsp;&nbsp;&nbsp;&nbsp; 251866 |
| &nbsp;&nbsp;&nbsp; Soybean Meal<sup>(a)</sup> | &nbsp;&nbsp; 85 | &nbsp;&nbsp;&nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2632 | &nbsp;&nbsp;&nbsp;&nbsp; 10092 |
| &nbsp;&nbsp;&nbsp; Soybean Oil<sup>(a)</sup> | &nbsp;&nbsp; 104 | &nbsp;&nbsp;&nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2903 | &nbsp;&nbsp;&nbsp;&nbsp; 207557 |
| &nbsp;&nbsp;&nbsp; Wheat<sup>(a)</sup> | &nbsp;&nbsp; 69 | &nbsp;&nbsp;&nbsp;&nbsp; 05/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1974 | &nbsp;&nbsp;&nbsp;&nbsp; 5417 |
| &nbsp;&nbsp;&nbsp; Coffee<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2785 | &nbsp;&nbsp;&nbsp;&nbsp; 467996 |
| &nbsp;&nbsp;&nbsp; Lead<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1762 | &nbsp;&nbsp;&nbsp;&nbsp; (69324)<br>|
| &nbsp;&nbsp;&nbsp; LME Aluminium Premiums<sup>(a)</sup> | &nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2987 | &nbsp;&nbsp;&nbsp;&nbsp; (1355)<br>|
| &nbsp;&nbsp;&nbsp; LME Tin<sup>(a)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1810 | &nbsp;&nbsp;&nbsp;&nbsp; 38647 |
| &nbsp;&nbsp;&nbsp; Nickel<sup>(a)</sup> | &nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2015 | &nbsp;&nbsp;&nbsp;&nbsp; (85658)<br>|
| &nbsp;&nbsp;&nbsp; Zinc<sup>(a)</sup> | &nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 05/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2132 | &nbsp;&nbsp;&nbsp;&nbsp; (256890)<br>|
| &nbsp;&nbsp;&nbsp; WTI Crude Oil<sup>(a)</sup> | &nbsp;&nbsp; 96 | &nbsp;&nbsp;&nbsp;&nbsp; 05/20/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6795 | &nbsp;&nbsp;&nbsp;&nbsp; 221866 |
| &nbsp;&nbsp;&nbsp; Cattle Feeder<sup>(a)</sup> | &nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 05/22/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1502 | &nbsp;&nbsp;&nbsp;&nbsp; 106290 |
| &nbsp;&nbsp;&nbsp; Copper<sup>(a)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 05/28/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3781 | &nbsp;&nbsp;&nbsp;&nbsp; 99610 |
| &nbsp;&nbsp;&nbsp; Natural Gas<sup>(a)</sup> | &nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp; 05/28/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1723 | &nbsp;&nbsp;&nbsp;&nbsp; 52612 |
| &nbsp;&nbsp;&nbsp; Silver<sup>(a)</sup> | &nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 05/28/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4560 | &nbsp;&nbsp;&nbsp;&nbsp; 189318 |

---

Consolidated Master Portfolio Schedule of Investments

------

Consolidated Schedule of Investments (unaudited)(continued)

January 31, 2025

**iShares Enhanced Roll Yield Index Fund** 

**Futures Contracts (continued)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| *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 (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Brent Crude Oil<sup>(a)</sup> | &nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp; 05/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; $11345 | &nbsp;&nbsp;&nbsp;&nbsp; $203216 |
| &nbsp;&nbsp;&nbsp; Gasoline RBOB<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 05/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3437 | &nbsp;&nbsp;&nbsp;&nbsp; 129658 |
| &nbsp;&nbsp;&nbsp; NY Harbor ULSD<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 05/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3469 | &nbsp;&nbsp;&nbsp;&nbsp; 144405 |
| &nbsp;&nbsp;&nbsp; Low Sulphur Gas<sup>(a)</sup> | &nbsp;&nbsp; 58 | &nbsp;&nbsp;&nbsp;&nbsp; 06/12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3977 | &nbsp;&nbsp;&nbsp;&nbsp; 103781 |
| &nbsp;&nbsp;&nbsp; Lean Hogs<sup>(a)</sup> | &nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 06/13/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1772 | &nbsp;&nbsp;&nbsp;&nbsp; 51856 |
| &nbsp;&nbsp;&nbsp; Lead<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1771 | &nbsp;&nbsp;&nbsp;&nbsp; 2261 |
| &nbsp;&nbsp;&nbsp; LME Aluminium Premiums<sup>(a)</sup> | &nbsp;&nbsp; 46 | &nbsp;&nbsp;&nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2991 | &nbsp;&nbsp;&nbsp;&nbsp; 65776 |
| &nbsp;&nbsp;&nbsp; LME Tin<sup>(a)</sup> | &nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1813 | &nbsp;&nbsp;&nbsp;&nbsp; 33136 |
| &nbsp;&nbsp;&nbsp; Nickel<sup>(a)</sup> | &nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1932 | &nbsp;&nbsp;&nbsp;&nbsp; (40303)<br>|
| &nbsp;&nbsp;&nbsp; Zinc<sup>(a)</sup> | &nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 06/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2137 | &nbsp;&nbsp;&nbsp;&nbsp; (100223)<br>|
| &nbsp;&nbsp;&nbsp; WTI Crude Oil<sup>(a)</sup> | &nbsp;&nbsp; 97 | &nbsp;&nbsp;&nbsp;&nbsp; 06/20/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6810 | &nbsp;&nbsp;&nbsp;&nbsp; (182554)<br>|
| &nbsp;&nbsp;&nbsp; Copper<sup>(a)</sup> | &nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3799 | &nbsp;&nbsp;&nbsp;&nbsp; 50694 |
| &nbsp;&nbsp;&nbsp; Gold 100 OZ<sup>(a)</sup> | &nbsp;&nbsp; 58 | &nbsp;&nbsp;&nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp;&nbsp;&nbsp; 16586 | &nbsp;&nbsp;&nbsp;&nbsp; 963127 |
| &nbsp;&nbsp;&nbsp; Natural Gas<sup>(a)</sup> | &nbsp;&nbsp; 45 | &nbsp;&nbsp;&nbsp;&nbsp; 06/26/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1612 | &nbsp;&nbsp;&nbsp;&nbsp; (31999)<br>|
| &nbsp;&nbsp;&nbsp; Brent Crude Oil<sup>(a)</sup> | &nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 11268 | &nbsp;&nbsp;&nbsp;&nbsp; (294657)<br>|
| &nbsp;&nbsp;&nbsp; Gasoline RBOB<sup>(a)</sup> | &nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3494 | &nbsp;&nbsp;&nbsp;&nbsp; (19374)<br>|
| &nbsp;&nbsp;&nbsp; Live Cattle<sup>(a)</sup> | &nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2124 | &nbsp;&nbsp;&nbsp;&nbsp; 113416 |
| &nbsp;&nbsp;&nbsp; NY Harbor ULSD<sup>(a)</sup> | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3457 | &nbsp;&nbsp;&nbsp;&nbsp; (34310)<br>|
| &nbsp;&nbsp;&nbsp; Sugar 11<sup>(a)</sup> | &nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp; 06/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2691 | &nbsp;&nbsp;&nbsp;&nbsp; (152374)<br>|
| &nbsp;&nbsp;&nbsp; Cotton No.2<sup>(a)</sup> | &nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 07/09/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2115 | &nbsp;&nbsp;&nbsp;&nbsp; (142377)<br>|
| &nbsp;&nbsp;&nbsp; Low Sulphur Gas<sup>(a)</sup> | &nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 07/10/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3887 | &nbsp;&nbsp;&nbsp;&nbsp; (80378)<br>|
| &nbsp;&nbsp;&nbsp; Corn<sup>(a)</sup> | &nbsp;&nbsp; 149 | &nbsp;&nbsp;&nbsp;&nbsp; 07/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3701 | &nbsp;&nbsp;&nbsp;&nbsp; 351941 |
| &nbsp;&nbsp;&nbsp; KC HRW Wheat<sup>(a)</sup> | &nbsp;&nbsp; 62 | &nbsp;&nbsp;&nbsp;&nbsp; 07/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1855 | &nbsp;&nbsp;&nbsp;&nbsp; 70759 |
| &nbsp;&nbsp;&nbsp; Soybean<sup>(a)</sup> | &nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp; 07/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6219 | &nbsp;&nbsp;&nbsp;&nbsp; 258140 |
| &nbsp;&nbsp;&nbsp; Soybean Meal<sup>(a)</sup> | &nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 07/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2603 | &nbsp;&nbsp;&nbsp;&nbsp; 32457 |
| &nbsp;&nbsp;&nbsp; Soybean Oil<sup>(a)</sup> | &nbsp;&nbsp; 103 | &nbsp;&nbsp;&nbsp;&nbsp; 07/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2886 | &nbsp;&nbsp;&nbsp;&nbsp; 192853 |
| &nbsp;&nbsp;&nbsp; Wheat<sup>(a)</sup> | &nbsp;&nbsp; 67 | &nbsp;&nbsp;&nbsp;&nbsp; 07/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1957 | &nbsp;&nbsp;&nbsp;&nbsp; 22101 |
| &nbsp;&nbsp;&nbsp; Lean Hogs<sup>(a)</sup> | &nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1781 | &nbsp;&nbsp;&nbsp;&nbsp; 57777 |
| &nbsp;&nbsp;&nbsp; Coffee<sup>(a)</sup> | &nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 07/21/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2730 | &nbsp;&nbsp;&nbsp;&nbsp; 420856 |
| &nbsp;&nbsp;&nbsp; Silver<sup>(a)</sup> | &nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 07/29/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4435 | &nbsp;&nbsp;&nbsp;&nbsp; 220121 |
| &nbsp;&nbsp;&nbsp; Lean Hogs<sup>(a)</sup> | &nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; 08/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1807 | &nbsp;&nbsp;&nbsp;&nbsp; 46472 |
| &nbsp;&nbsp;&nbsp; Gold 100 OZ<sup>(a)</sup> | &nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp; 08/27/25 | &nbsp;&nbsp;&nbsp;&nbsp; 16434 | &nbsp;&nbsp;&nbsp;&nbsp; 744234 |
| &nbsp;&nbsp;&nbsp; Cattle Feeder<sup>(a)</sup> | &nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 08/28/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1506 | &nbsp;&nbsp;&nbsp;&nbsp; 55603 |
| &nbsp;&nbsp;&nbsp; Live Cattle<sup>(a)</sup> | &nbsp;&nbsp; 28 | &nbsp;&nbsp;&nbsp;&nbsp; 08/29/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2165 | &nbsp;&nbsp;&nbsp;&nbsp; 99948 |
| &nbsp;&nbsp;&nbsp; Corn<sup>(a)</sup> | &nbsp;&nbsp; 166 | &nbsp;&nbsp;&nbsp;&nbsp; 09/12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 3820 | &nbsp;&nbsp;&nbsp;&nbsp; 209228 |
| &nbsp;&nbsp;&nbsp; KC HRW Wheat<sup>(a)</sup> | &nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp; 09/12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1832 | &nbsp;&nbsp;&nbsp;&nbsp; 74925 |
| &nbsp;&nbsp;&nbsp; Wheat<sup>(a)</sup> | &nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp; 09/12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1914 | &nbsp;&nbsp;&nbsp;&nbsp; 34955 |
| &nbsp;&nbsp;&nbsp; Coffee<sup>(a)</sup> | &nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 09/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2792 | &nbsp;&nbsp;&nbsp;&nbsp; 413078 |
| &nbsp;&nbsp;&nbsp; Sugar 11<sup>(a)</sup> | &nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp; 09/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2707 | &nbsp;&nbsp;&nbsp;&nbsp; (121580)<br>|
| &nbsp;&nbsp;&nbsp; Live Cattle<sup>(a)</sup> | &nbsp;&nbsp; 27 | &nbsp;&nbsp;&nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2092 | &nbsp;&nbsp;&nbsp;&nbsp; 29845 |
| &nbsp;&nbsp;&nbsp; Soybean<sup>(a)</sup> | &nbsp;&nbsp; 117 | &nbsp;&nbsp;&nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6148 | &nbsp;&nbsp;&nbsp;&nbsp; 239536 |
| &nbsp;&nbsp;&nbsp; Cotton No.2<sup>(a)</sup> | &nbsp;&nbsp; 63 | &nbsp;&nbsp;&nbsp;&nbsp; 12/08/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2164 | &nbsp;&nbsp;&nbsp;&nbsp; (87259)<br>|
| &nbsp;&nbsp;&nbsp; Soybean Meal<sup>(a)</sup> | &nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2645 | &nbsp;&nbsp;&nbsp;&nbsp; 64572 |
| &nbsp;&nbsp;&nbsp; Soybean Oil<sup>(a)</sup> | &nbsp;&nbsp; 103 | &nbsp;&nbsp;&nbsp;&nbsp; 12/12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2824 | &nbsp;&nbsp;&nbsp;&nbsp; 212212 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $9485340 |

---

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

<sup>(a)</sup> All or a portion of the security is held by a wholly-owned subsidiary.

**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

------

Consolidated Schedule of Investments (unaudited)(continued)

January 31, 2025

**iShares Enhanced Roll Yield Index Fund** 

**Fair Value Hierarchy as of Period End (continued)**

&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. 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.

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 Consolidated Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Certificates of Deposit | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $77973676 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $77973676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Paper | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13820501 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13820501 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 13104923 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 13104923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 247992346 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 247992346 |
|  | &nbsp;&nbsp; $13104923 | &nbsp;&nbsp;&nbsp;&nbsp; $339786523 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $352891446 |
| Derivative Financial Instruments<sup>(a)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commodity Contracts | &nbsp;&nbsp; $12743652 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $12743652 |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commodity Contracts | &nbsp;&nbsp; (3258312)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (3258312)<br>|
|  | &nbsp;&nbsp; $9485340 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $9485340 |

---

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

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

Consolidated Master Portfolio Schedule of Investments

------

## 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 Enhanced Roll Yield Index Fund

- **b. EDGAR series identifier (if any):** S000087850

- **c. LEI of Series:** 5299009A7GAAAP4JH693

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-01-31

**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:** $374761508.00

**Total Liabilities:** $101816.23

**Net Assets:** $374659691.77

**Amount of Assets Invested in Other Investment Companies:** $21376995.67

**Cash Not Reported:** $12365327.87

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2426.10000000 | **1-Year:** 2377.25000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000253864 | -0.70%               | 0.74%                | 3.72%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $15312.39                                  |
| Month 2  | $0.00                    | $84950.11                                  |
| Month 3  | $0.00                    | $-2216.84                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BANK OF NOVA SCOTIA HOUS                       | Bank of Nova Scotia/Houston                      | CUSIP: 06418NFC1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | STIV             | CORP              | CA        |   3000000 | PA      | $3001176.75   | 0.80%             | 2026-01-02      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| ICE Futures U.S., Inc.                         | COTTON NO.2 FUTR DEC25                           | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |        63 | NC      | $-87259.49    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| SVENSKA HANDELSBANKEN AB                       | SVENSKA HANDELSBANKEN AB                         | CUSIP: 86959TJD9<br>LEI: N/A                  | Long             | STIV             | CORP              | SE        |    900000 | PA      | $900955.64    | 0.24%             | 2025-11-12      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                    | LEAN HOGS FUTURE JUN25                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        43 | NC      | $51856.09     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797MJ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  14000000 | PA      | $13995088.38  | 3.74%             | 2025-02-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commodities Exchange Center                    | COPPER FUTURE MAR25                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        36 | NC      | $54304.18     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Macquarie Bank Ltd                             | Macquarie Bank Ltd                               | CUSIP: 55607LAD6<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | STIV             | CORP              | US        |   2760000 | PA      | $2645011.28   | 0.71%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commodities Exchange Center                    | COPPER FUTURE JUN25                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        35 | NC      | $50694.22     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME NICKEL FUTURE APR25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        22 | NC      | $-94388.52    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797ND5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9898726.60   | 2.64%             | 2025-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| London Metal Exchange                          | LME ZINC FUTURE APR25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -2 | NC      | $7279.07      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME PRI ALUM FUTR FEB25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        49 | NC      | $21646.19     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME TIN FUTURE FEB25                             | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |       -14 | NC      | $-38297.19    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN FUTURE NOV25                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       117 | NC      | $239535.53    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO MITSUI TR BK LTD NY B                 | SUMITOMO MITSUI TR BK LTD NY B                   | CUSIP: 86564P2Z3<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1450000 | PA      | $1449988.12   | 0.39%             | 2025-05-30      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | KC HRW WHEAT FUT MAR25                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        67 | NC      | $72396.30     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME PRI ALUM FUTR MAR25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        48 | NC      | $20631.99     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN OIL FUTR MAR25                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       107 | NC      | $206924.05    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME LEAD FUTURE FEB25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        34 | NC      | $-87690.74    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| SVENSKA HANDELSBANKEN NY                       | Svenska Handelsbanken/New York NY                | CUSIP: 86959TKL9<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | STIV             | CORP              | SE        |   2580000 | PA      | $2580473.77   | 0.69%             | 2026-01-13      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| ICE Futures U.S., Inc.                         | SUGAR 11 (WORLD) MAY25                           | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |       132 | NC      | $-187032.20   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL BK CDA N Y                               | ROYAL BK CDA N Y                                 | CUSIP: 78015J4L8<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1400000 | PA      | $1400367.65   | 0.37%             | 2025-11-25      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | CORN FUTURE JUL25                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       149 | NC      | $351941.04    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME TIN FUTURE MAY25                             | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        14 | NC      | $51848.58     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO MITSUI BANK NY                        | Sumitomo Mitsui Banking Corp/New York            | CUSIP: 86565GJC5<br>LEI: 549300MS3WYYVQ4HXM15 | Long             | STIV             | CORP              | JP        |   4000000 | PA      | $4000331.00   | 1.07%             | 2025-07-07      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| New York Mercantile Exchange                   | GASOLINE RBOB FUT JUL25                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        37 | NC      | $-19373.67    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME TIN FUTURE MAR25                             | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        14 | NC      | $-1798.02     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME ZINC FUTURE JUN25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        31 | NC      | $-100223.12   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                    | LIVE CATTLE FUTR APR25                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        26 | NC      | $123639.38    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                         | COFFEE 'C' FUTURE MAY25                          | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |        20 | NC      | $467995.60    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                    | LEAN HOGS FUTURE JUL25                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        43 | NC      | $57777.01     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe                             | LOW SU GASOIL G MAY25                            | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              |  | GB        |        57 | NC      | $111337.51    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN MEAL FUTR MAR25                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        89 | NC      | $-20362.27    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| NORDEA BANK ABP NEW YORK                       | Nordea Bank Abp/New York NY                      | CUSIP: 65558WDX3<br>LEI: 529900ODI3047E2LIV03 | Long             | STIV             | CORP              | FI        |   3000000 | PA      | $3000590.85   | 0.80%             | 2025-04-04      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN OIL FUTR DEC25                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       103 | NC      | $212212.47    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Volvo Treasury North America LP                | Volvo Treasury North America LP                  | CUSIP: 9288N2R12<br>LEI: 549300FWBZ85PPXFLH91 | Long             | STIV             | CORP              | US        |   4460000 | PA      | $4426104.00   | 1.18%             | 2025-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ICE Futures U.S., Inc.                         | COFFEE 'C' FUTURE SEP25                          | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |        21 | NC      | $413077.94    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME LEAD FUTURE APR25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        37 | NC      | $-77162.54    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME LEAD FUTURE MAY25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        36 | NC      | $-69324.20    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797NA1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9698906.80   | 2.59%             | 2025-10-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | KC HRW WHEAT FUT MAY25                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        65 | NC      | $71409.94     | 0.02%             |  |  |  | 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        |  13104923 | NS      | $13104922.74  | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                    | CATTLE FEEDER FUT MAY25                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        11 | NC      | $106290.33    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                         | COTTON NO.2 FUTR MAY25                           | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |        64 | NC      | $-150708.90   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN MEAL FUTR MAY25                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        85 | NC      | $10092.40     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe                             | LOW SU GASOIL G APR25                            | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              |  | GB        |        57 | NC      | $144510.46    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME LEAD FUTURE FEB25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |       -34 | NC      | $5501.92      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797NL7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9667026.40   | 2.58%             | 2025-11-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Mercantile Exchange                   | GASOLINE RBOB FUT JUN25                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        36 | NC      | $129657.58    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                    | CATTLE FEEDER FUT APR25                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        11 | NC      | $118076.51    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME TIN FUTURE APR25                             | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -2 | NC      | $-5921.73     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Aquitaine Funding Co LLC                       | Aquitaine Funding Co LLC                         | CUSIP: 03843LQL5<br>LEI: 549300RM1I17W1XLUM92 | Long             | STIV             | CORP              | US        |   2250000 | PA      | $2236694.40   | 0.60%             | 2025-03-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commodities Exchange Center                    | SILVER FUTURE MAY25                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        28 | NC      | $189318.20    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME PRI ALUM FUTR MAR25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -2 | NC      | $-2557.18     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                    | LEAN HOGS FUTURE AUG25                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        44 | NC      | $46472.38     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                         | COTTON NO.2 FUTR JUL25                           | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |        62 | NC      | $-142376.55   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| TORONTO DOMINION BANK NY                       | Toronto-Dominion Bank/NY                         | CUSIP: 89115DL38<br>LEI: PT3QB789TSUIDF371261 | Long             | STIV             | CORP              | CA        |   3000000 | PA      | $3000698.88   | 0.80%             | 2025-10-01      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | WHEAT FUTURE(CBT) JUL25                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        67 | NC      | $22101.23     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797LN5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9850395.80   | 2.63%             | 2025-06-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797PD3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  20000000 | PA      | $19217504.40  | 5.13%             | 2026-01-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797NJ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  25000000 | PA      | $24935089.75  | 6.66%             | 2025-02-25      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CANADIAN IMP BK COMM NY                        | Canadian Imperial Bank of Commerce/New York NY   | CUSIP: 13606KV94<br>LEI: 549300H8L46OOZOFHU82 | Long             | STIV             | CORP              | CA        |   3000000 | PA      | $3000649.44   | 0.80%             | 2025-03-06      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA                                | BANK OF AMERICA                                  | CUSIP: 06051WSB1<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   2540000 | PA      | $2540306.45   | 0.68%             | 2026-01-02      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| London Metal Exchange                          | LME LEAD FUTURE MAR25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        37 | NC      | $-86452.95    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME NICKEL FUTURE JUN25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        21 | NC      | $-40302.51    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME PRI ALUM FUTR MAY25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        47 | NC      | $-1558.16     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME NICKEL FUTURE FEB25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |       -20 | NC      | $39909.44     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Global Markets Inc                   | Citigroup Global Markets Inc                     | CUSIP: 17327AYE1<br>LEI: MBNUM2BPBDO7JBLYG310 | Long             | STIV             | CORP              | US        |   1010000 | PA      | $974981.02    | 0.26%             | 2025-11-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797PC5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $19785806.20  | 5.28%             | 2025-05-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Mercantile Exchange                   | WTI CRUDE FUTURE MAY25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        96 | NC      | $259069.86    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME NICKEL FUTURE MAY25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        22 | NC      | $-85658.42    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | WTI CRUDE FUTURE JUN25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        96 | NC      | $221865.85    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME ZINC FUTURE FEB25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |       -34 | NC      | $130263.55    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Commodities Exchange Center                    | GOLD 100 OZ FUTR AUG25                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        57 | NC      | $744234.22    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME PRI ALUM FUTR APR25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        48 | NC      | $7135.71      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | CORN FUTURE SEP25                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       166 | NC      | $209227.78    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797MV6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  27500000 | PA      | $27309506.40  | 7.29%             | 2025-04-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | CORN FUTURE MAR25                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       157 | NC      | $339043.41    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797NN3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $19733263.80  | 5.27%             | 2025-05-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN FUTURE JUL25                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       116 | NC      | $258139.86    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | NY HARB ULSD FUT JUN25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        36 | NC      | $144404.75    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME ZINC FUTURE FEB25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        34 | NC      | $-312490.26   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO MITSUI TRUST NY                       | Sumitomo Mitsui Trust Bank Ltd/ New York         | CUSIP: 86564PK59<br>LEI: 5493006GGLR4BTEL8O61 | Long             | STIV             | CORP              | JP        |   4300000 | PA      | $4300104.58   | 1.15%             | 2025-02-07      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| Sumitomo Mitsui Banking Corp                   | Sumitomo Mitsui Banking Corp                     | CUSIP: 86565GGY0<br>LEI: 5U0XI89JRFVHWIBS4F54 | Long             | STIV             | CORP              | JP        |   2380000 | PA      | $2380439.21   | 0.64%             | 2025-06-09      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| ICE Futures U.S., Inc.                         | SUGAR 11 (WORLD) OCT25                           | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |       137 | NC      | $-121579.97   | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| OVERSEA CHINESE BK CO NY                       | OVERSEA CHINESE BK CO NY                         | CUSIP: 69033NEB7<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   2380000 | PA      | $2380399.08   | 0.64%             | 2025-06-05      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| ICE Futures Europe                             | LOW SU GASOIL G JUL25                            | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              |  | GB        |        57 | NC      | $-80378.14    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | NATURAL GAS FUTR MAY25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        57 | NC      | $12445.83     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MIZUHO BANK LTD/NY                             | Mizuho Bank Ltd/New York NY                      | CUSIP: 60710TYE5<br>LEI: RB0PEZSDGCO3JS6CEU02 | Long             | STIV             | CORP              | JP        |   3400000 | PA      | $3400565.35   | 0.91%             | 2025-07-08      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| London Metal Exchange                          | LME NICKEL FUTURE MAR25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        22 | NC      | $-88783.90    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | WHEAT FUTURE(CBT) SEP25                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        64 | NC      | $34954.70     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797PG6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   5000000 | PA      | $4897279.15   | 1.31%             | 2025-07-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Cisco Systems Inc                              | Cisco Systems Inc                                | CUSIP: 17277AS24<br>LEI: 549300LKFJ962MZ46593 | Long             | STIV             | CORP              | US        |   1150000 | PA      | $1137498.20   | 0.30%             | 2025-05-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| London Metal Exchange                          | LME PRI ALUM FUTR MAY25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -1 | NC      | $-643.90      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN MEAL FUTR JUL25                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        82 | NC      | $32456.98     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797NR4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5000000 | PA      | $4974755.40   | 1.33%             | 2025-03-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ICE Futures U.S., Inc.                         | COTTON NO.2 FUTR MAR25                           | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |        66 | NC      | $-153812.87   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797NT0<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  15000000 | PA      | $14899632.45  | 3.98%             | 2025-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BANK OF MONTREAL CHICAGO                       | Bank of Montreal/Chicago IL                      | CUSIP: 06370B2M5<br>LEI: NQQ6HPCNCCU6TUTQYE16 | Long             | STIV             | CORP              | CA        |    890000 | PA      | $890557.27    | 0.24%             | 2025-11-13      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| NORDEA BANK ABP NEW YORK                       | Nordea Bank Abp/New York NY                      | CUSIP: 65558WEX2<br>LEI: 529900ODI3047E2LIV03 | Long             | STIV             | CORP              | FI        |   2000000 | PA      | $2000086.00   | 0.53%             | 2025-07-14      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                    | LIVE CATTLE FUTR JUN25                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        27 | NC      | $113415.51    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | NY HARB ULSD FUT APR25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        35 | NC      | $175098.47    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Commodities Exchange Center                    | GOLD 100 OZ FUTR APR25                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        59 | NC      | $798748.63    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME TIN FUTURE APR25                             | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        14 | NC      | $20613.51     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | NY HARB ULSD FUT JUL25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        36 | NC      | $-34309.54    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe                             | BRENT CRUDE FUTR JUN25                           | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              |  | GB        |       153 | NC      | $236331.13    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | KC HRW WHEAT FUT JUL25                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        62 | NC      | $70758.59     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | WTI CRUDE FUTURE JUL25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        97 | NC      | $-182553.67   | -0.05%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME TIN FUTURE FEB25                             | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        14 | NC      | $-2663.02     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | KC HRW WHEAT FUT SEP25                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        60 | NC      | $74925.44     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                         | COFFEE 'C' FUTURE JUL25                          | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |        20 | NC      | $420856.22    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                    | LEAN HOGS FUTURE APR25                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        57 | NC      | $33409.41     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe                             | BRENT CRUDE FUTR JUL25                           | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              |  | GB        |       154 | NC      | $203216.36    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | NATURAL GAS FUTR JUL25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        45 | NC      | $-31999.14    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME ZINC FUTURE MAR25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -2 | NC      | $7789.32      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF MONTREAL                               | BANK OF MONTREAL                                 | CUSIP: 06367DNT8<br>LEI: N/A                  | Long             | STIV             | CORP              | CA        |   2250000 | PA      | $2250907.63   | 0.60%             | 2026-01-13      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | CORN FUTURE MAY25                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       152 | NC      | $355681.51    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797PH4<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   5000000 | PA      | $4942421.85   | 1.32%             | 2025-05-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI UFJ TR&BK NY                        | Mitsubishi UFJ Trust & Banking Corp/NY           | CUSIP: 60683D4Y2<br>LEI: JBONEPAGQXF4QP29B387 | Long             | STIV             | CORP              | JP        |   3000000 | PA      | $3002040.00   | 0.80%             | 2025-08-08      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| SVENSKA HANDELSBANKEN AB                       | SVENSKA HANDELSBANKEN AB                         | CUSIP: 86959TKH8<br>LEI: N/A                  | Long             | STIV             | CORP              | SE        |   3380000 | PA      | $3379770.19   | 0.90%             | 2025-11-07      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| DNB Bank ASA                                   | DNB Bank ASA                                     | CUSIP: 2332K0YA4<br>LEI: 549300GKFG0RYRRQ1414 | Long             | STIV             | CORP              | NO        |    940000 | PA      | $908687.97    | 0.24%             | 2025-11-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New York Mercantile Exchange                   | NY HARB ULSD FUT MAY25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        36 | NC      | $143058.10    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | GASOLINE RBOB FUT APR25                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        36 | NC      | $154848.08    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Commodities Exchange Center                    | GOLD 100 OZ FUTR JUN25                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        58 | NC      | $963127.19    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797NK9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9965742.40   | 2.66%             | 2025-03-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| London Metal Exchange                          | LME ZINC FUTURE MAY25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -3 | NC      | $9351.54      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                         | COFFEE 'C' FUTURE MAR25                          | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |        19 | NC      | $442780.82    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME TIN FUTURE JUN25                             | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        12 | NC      | $33136.49     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME PRI ALUM FUTR JUN25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        46 | NC      | $65775.59     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN FUTURE MAR25                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       122 | NC      | $242960.73    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                    | LIVE CATTLE FUTR AUG25                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        28 | NC      | $99948.39     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ROYAL BK CDA N Y                               | ROYAL BK CDA N Y                                 | CUSIP: 78015JAC1<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1999047.46   | 0.53%             | 2025-12-12      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| Commodities Exchange Center                    | COPPER FUTURE APR25                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        36 | NC      | $78912.50     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| COOPERATIEVE CENTRALE                          | COOPERATIEVE CENTRALE                            | CUSIP: 21684XY91<br>LEI: N/A                  | Long             | STIV             | CORP              | NL        |   6750000 | PA      | $6748238.12   | 1.80%             | 2025-10-14      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN MEAL FUTR DEC25                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        82 | NC      | $64571.60     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797NE3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20000000 | PA      | $19781450.00  | 5.28%             | 2025-05-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ICE Futures Europe                             | BRENT CRUDE FUTR MAY25                           | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              |  | GB        |       153 | NC      | $333155.13    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME PRI ALUM FUTR APR25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -2 | NC      | $-3608.68     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NOVA SCOTIA HOUS                       | Bank of Nova Scotia/Houston                      | CUSIP: 06418NAH5<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | STIV             | CORP              | CA        |   3000000 | PA      | $3001019.37   | 0.80%             | 2025-04-04      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN FUTURE MAY25                             | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       119 | NC      | $251865.86    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797LB1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2500000 | PA      | $2470664.40   | 0.66%             | 2025-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ICE Futures Europe                             | BRENT CRUDE FUTR AUG25                           | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              |  | GB        |       154 | NC      | $-294657.23   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                    | CATTLE FEEDER FUT MAR25                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        11 | NC      | $125241.64    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Commodities Exchange Center                    | SILVER FUTURE MAR25                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        29 | NC      | $197536.86    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                    | CATTLE FEEDER FUT AUG25                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        11 | NC      | $55602.68     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Commodities Exchange Center                    | SILVER FUTURE JUL25                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        27 | NC      | $220120.93    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | WHEAT FUTURE(CBT) MAR25                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        72 | NC      | $-2911.27     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME NICKEL FUTURE FEB25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        20 | NC      | $-85504.74    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| SUMITOMO MITSUI BANK NY                        | Sumitomo Mitsui Banking Corp/New York            | CUSIP: 86565GGQ7<br>LEI: 549300MS3WYYVQ4HXM15 | Long             | STIV             | CORP              | JP        |    720000 | PA      | $720049.80    | 0.19%             | 2025-06-11      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| ICE Futures U.S., Inc.                         | SUGAR 11 (WORLD) JUL25                           | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |       137 | NC      | $-152374.15   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| HSBC BANK USA NA                               | HSBC Bank USA NA                                 | CUSIP: 40435RWP2<br>LEI: 1IE8VN30JCEQV1H4R804 | Long             | STIV             | CORP              | US        |   1750000 | PA      | $1751421.00   | 0.47%             | 2025-12-04      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| Ionic Funding LLC                              | Ionic Funding LLC                                | CUSIP: 46224KQJ0<br>LEI: 2549003T8ZP164671925 | Long             | STIV             | CORP              | US        |   1500000 | PA      | $1491523.74   | 0.40%             | 2025-03-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                         | WHEAT FUTURE(CBT) MAY25                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |        69 | NC      | $5417.30      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME LEAD FUTURE JUN25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        36 | NC      | $2261.24      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | NATURAL GAS FUTR APR25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        60 | NC      | $-3049.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                    | LIVE CATTLE FUTR OCT25                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              |  | US        |        27 | NC      | $29844.94     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                         | SUGAR 11 (WORLD) MAR25                           | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              |  | US        |       114 | NC      | $-160122.02   | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Commodities Exchange Center                    | COPPER FUTURE MAY25                              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              |  | US        |        35 | NC      | $99609.51     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME TIN FUTURE MAY25                             | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -2 | NC      | $-8690.23     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME PRI ALUM FUTR FEB25                          | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |       -49 | NC      | $-83609.62    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN OIL FUTR MAY25                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       104 | NC      | $207557.00    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | NATURAL GAS FUTR JUN25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        51 | NC      | $52612.17     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                         | SOYBEAN OIL FUTR JUL25                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              |  | US        |       103 | NC      | $192852.68    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures Europe                             | LOW SU GASOIL G JUN25                            | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              |  | GB        |        58 | NC      | $103781.40    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| STANDARD CHARTERED BK/NY                       | Standard Chartered Bank/New York                 | CUSIP: 85325VQD5<br>LEI: RILFO74KP1CM8P6PCT96 | Long             | STIV             | CORP              | GB        |   3500000 | PA      | $3500615.06   | 0.93%             | 2025-09-30      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797KA4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15000000 | PA      | $14969904.75  | 4.00%             | 2025-02-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI TRUST NY                       | Sumitomo Mitsui Trust Bank Ltd/ New York         | CUSIP: 86564PP70<br>LEI: 5493006GGLR4BTEL8O61 | Long             | STIV             | CORP              | JP        |   1250000 | PA      | $1250143.11   | 0.33%             | 2025-04-04      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| London Metal Exchange                          | LME ZINC FUTURE MAY25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        34 | NC      | $-281731.52   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| MUFG BANK LTD/NY                               | MUFG Bank Ltd/New York NY                        | CUSIP: 55381BBS6<br>LEI: C3GTMMZIHMY46P4OIX74 | Long             | STIV             | CORP              | JP        |   4000000 | PA      | $4000061.56   | 1.07%             | 2025-07-07      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| London Metal Exchange                          | LME ZINC FUTURE MAR25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        34 | NC      | $-297691.76   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | GASOLINE RBOB FUT MAY25                          | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        36 | NC      | $142941.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| New York Mercantile Exchange                   | WTI CRUDE FUTURE APR25                           | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              |  | US        |        95 | NC      | $323428.75    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| London Metal Exchange                          | LME TIN FUTURE MAR25                             | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        -2 | NC      | $-6157.18     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| MIZUHO BK LTD NEW YORK BRH INS                 | MIZUHO BK LTD NEW YORK BRH INS                   | CUSIP: 60710TYN5<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   2640000 | PA      | $2642534.00   | 0.71%             | 2026-01-14      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| London Metal Exchange                          | LME ZINC FUTURE APR25                            | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              |  | GB        |        34 | NC      | $-269051.85   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| DG BANK NY BRANCH                              | DG BANK NY BRANCH                                | CUSIP: 23344JCR4<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   3500000 | PA      | $3500138.99   | 0.93%             | 2025-08-07      | Fixed         | 4.43%                 | No            |                  2 | On Loan: No      |
| United States Treasury                         | U.S. Treasury Bills                              | CUSIP: 912797NF0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   7000000 | PA      | $6999181.42   | 1.87%             | 2025-02-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-11

**Name of Applicant:** BlackRock Funds

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer