# EDGAR Filing Document

**Accession Number:** 0001738078
**File Stem:** 0001193125-25-203939
**Filing Date:** 2025-9
**Character Count:** 5321
**Document Hash:** 23774cf955eab664f6add526085399ed
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-203939.hdr.sgml**: 20250916

**ACCESSION NUMBER**: 0001193125-25-203939

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250916

**DATE AS OF CHANGE**: 20250915

**EFFECTIVENESS DATE**: 20250916

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Funds V
- **CENTRAL INDEX KEY:** 0001738078

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-224371
- **FILM NUMBER:** 251315405

**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

## Series and Classes Contracts Data

### BlackRock Strategic Income Opportunities Portfolio (Series ID: S000062358)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000202264 | Investor A Shares    |  |
| C000202265 | Investor C Shares    |  |
| C000202266 | Institutional Shares |  |
| C000202267 | Class K Shares       |  |

**BLACKROCK FUNDS V** 

**BlackRock Strategic Income Opportunities Portfolio** 

(the "Fund")

**Supplement dated September 16, 2025 (the "Supplement") to the Fund's** 

**Summary Prospectuses and Prospectuses, each dated April 30, 2025, as supplemented to date** 

**Effective immediately, the following changes are made to the Fund's Summary Prospectuses and Prospectuses, as applicable:** 

**The section of the Summary Prospectuses entitled "Key Facts About BlackRock Strategic Income Opportunities Portfolio — Portfolio Managers" and the section of the Prospectuses entitled "Fund Overview — Key Facts About BlackRock Strategic Income Opportunities Portfolio — Portfolio Managers" are deleted in their entirety and replaced with the following:** 

***Portfolio Managers***

---

| | | |
|:---|:---|:---|
| **Name** | **Portfolio Manager of<br>the Fund Since** | **Title** |
| Rick Rieder | 2010\* | Chief Investment Officer of Global Fixed Income, Head of Global Allocation Investment Team, member of the Global Executive Committee, Global Operating Committee and Chairman of the BlackRock, Inc. firmwide Investment Council |
| Russ Brownback | 2022 | Managing Director of BlackRock, Inc. |
| Dylan Price | 2025 | Director of BlackRock, Inc. |

---

\* Includes management of the Predecessor Fund.

**The section of the Prospectuses entitled "Details About the Fund — How the Fund Invests — About the Portfolio Management of the Fund" is deleted in its entirety and replaced with the following:** 

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;**ABOUT THE PORTFOLIO MANAGEMENT OF THE FUND** |
| &nbsp;&nbsp;&nbsp;The Fund is managed by a team of financial professionals. Rick Rieder, Russ Brownback and Dylan Price are the portfolio managers and are jointly and primarily responsible for the day-to-day management of the Fund. Please see "Management of the Fund — Portfolio Manager Information" for additional information about the portfolio management team. |

---

**The section of the Prospectuses entitled "Management of the Fund — Portfolio Manager Information" is deleted in its entirety and replaced with the following:** 

***Portfolio Manager Information***

Information regarding the portfolio managers of the Fund is set forth below. Further information regarding the portfolio managers, including other accounts managed, compensation, ownership of Fund shares, and possible conflicts of interest, is available in the Fund's SAI.

The Fund is managed by a team of financial professionals. Rick Rieder, Russ Brownback and Dylan Price are the portfolio managers and are jointly and primarily responsible for the day-to-day management of the Fund.

------

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio Manager** | **Primary Role** | **Since** | **Title and Recent Biography** |
| Rick Rieder | Jointly and primarily responsible for the day-to-day management of the Fund's portfolio including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2010\* | Chief Investment Officer of Global Fixed Income, Head of Global Allocation Investment Team, member of the Global Executive Committee, Global Operating Committee and Chairman of the BlackRock, Inc. firmwide Investment Council; Managing Director of BlackRock, Inc. since 2009. |
| Russ Brownback | Jointly and primarily responsible for the day-to-day management of the Fund's portfolio including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2022 | Managing Director of BlackRock, Inc. since 2017. |
| Dylan Price | Jointly and primarily responsible for the day-to-day management of the Fund's portfolio including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2025 | Director of BlackRock, Inc. since 2023; Vice President of BlackRock, Inc. from 2020 to 2022. |

---

\* Includes management of BlackRock Strategic Income Opportunities Portfolio, a series of BlackRock Funds II (the "Predecessor Fund")

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