# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001410368-25-010213
**Filing Date:** 2025-9
**Character Count:** 125743
**Document Hash:** 22628c710dbe76f0d245ee70bcf15098
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-010213.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0001410368-25-010213

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250924

**DATE AS OF CHANGE**: 20250924

**PERIOD START**: 20260430

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05742
- **FILM NUMBER:** 251338689

**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

### BlackRock Advantage Emerging Markets Fund (Series ID: S000033603)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000103256 | Investor A Shares    |  |
| C000103257 | Investor C Shares    |  |
| C000103258 | Institutional Shares |  |
| C000198231 | Class K              |  |

## Nport-Ex

July 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> |
| • BlackRock Advantage Emerging Markets Fund |

---

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

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

------

Schedule of Investments (unaudited)

July 31, 2025

**BlackRock Advantage Emerging Markets Fund** 

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

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

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Australia — 0.5%** | **Australia — 0.5%** |  |
| BHP Group Ltd., Class DI | 9036 | &nbsp;&nbsp; $223956 |
| **Brazil — 1.2%** | **Brazil — 1.2%** |  |
| Banco Santander Brasil SA | 27723 | &nbsp;&nbsp; 130853 |
| Banco Santander Brasil SA, ADR | 1857 | &nbsp;&nbsp; 8765 |
| Grupo SBF SA | 24764 | &nbsp;&nbsp; 48603 |
| Lojas Renner SA | 102642 | &nbsp;&nbsp; 298236 |
| NU Holdings Ltd./Cayman Islands, Class A<sup>(a)</sup> | 7796 | &nbsp;&nbsp; 95267 |
| YDUQS Participacoes SA | 13525 | &nbsp;&nbsp; 31255 |
|  |  | &nbsp;&nbsp; 612979 |
| **Chile — 0.2%** | **Chile — 0.2%** |  |
| Banco de Chile | 513240 | &nbsp;&nbsp; 70700 |
| Banco de Chile, ADR | 1608 | &nbsp;&nbsp; 43930 |
|  |  | &nbsp;&nbsp; 114630 |
| **China — 29.2%** | **China — 29.2%** |  |
| 3SBio, Inc.<sup>(b)</sup> | 8500 | &nbsp;&nbsp; 34363 |
| Agricultural Bank of China Ltd., Class H | 102000 | &nbsp;&nbsp; 66822 |
| Alibaba Group Holding Ltd. | 111020 | &nbsp;&nbsp; 1669160 |
| Bank of China Ltd., Class H | 818000 | &nbsp;&nbsp; 472160 |
| BeOne Medicines Ltd.<sup>(a)</sup> | 5700 | &nbsp;&nbsp; 129586 |
| Bilibili, Inc., Class Z<sup>(a)</sup> | 700 | &nbsp;&nbsp; 16015 |
| BOE Technology Group Co. Ltd., Class A | 309800 | &nbsp;&nbsp; 173300 |
| BYD Co. Ltd., Class A | 12600 | &nbsp;&nbsp; 182770 |
| BYD Co. Ltd., Class H | 27000 | &nbsp;&nbsp; 394223 |
| China Construction Bank Corp., Class H | 493000 | &nbsp;&nbsp; 504242 |
| China Hongqiao Group Ltd. | 12000 | &nbsp;&nbsp; 31655 |
| China International Capital Corp. Ltd., Class A | 28000 | &nbsp;&nbsp; 140187 |
| China Life Insurance Co. Ltd., Class H | 187000 | &nbsp;&nbsp; 540170 |
| China Resources Land Ltd. | 26000 | &nbsp;&nbsp; 95341 |
| China State Construction Engineering Corp. Ltd., Class A | 16000 | &nbsp;&nbsp; 12543 |
| Chow Tai Fook Jewellery Group Ltd. | 15400 | &nbsp;&nbsp; 25719 |
| CSC Financial Co. Ltd., Class A | 2400 | &nbsp;&nbsp; 8492 |
| Geely Automobile Holdings Ltd. | 62000 | &nbsp;&nbsp; 139067 |
| Gree Electric Appliances, Inc. of Zhuhai, Class A | 71900 | &nbsp;&nbsp; 454402 |
| Huatai Securities Co. Ltd., Class A | 179700 | &nbsp;&nbsp; 498435 |
| IEIT Systems Co. Ltd., Class A | 19600 | &nbsp;&nbsp; 150916 |
| Industrial & Commercial Bank of China Ltd., Class H | 421000 | &nbsp;&nbsp; 322581 |
| Innovent Biologics, Inc.<sup>(a)(b)</sup> | 8500 | &nbsp;&nbsp; 105214 |
| JD Logistics, Inc.<sup>(a)(b)</sup> | 19400 | &nbsp;&nbsp; 33621 |
| JD.com, Inc., Class A | 27960 | &nbsp;&nbsp; 440704 |
| KE Holdings, Inc., Class A | 18199 | &nbsp;&nbsp; 111305 |
| Kuaishou Technology<sup>(a)(b)</sup> | 2600 | &nbsp;&nbsp; 25387 |
| Meituan, Class B<sup>(a)(b)</sup> | 43580 | &nbsp;&nbsp; 672332 |
| Midea Group Co. Ltd., Class A | 21900 | &nbsp;&nbsp; 212694 |
| NetEase, Inc. | 23770 | &nbsp;&nbsp; 621401 |
| PDD Holdings, Inc., ADR<sup>(a)</sup> | 1098 | &nbsp;&nbsp; 124568 |
| PetroChina Co. Ltd., Class H | 385700 | &nbsp;&nbsp; 376918 |
| Ping An Insurance Group Co. of China Ltd., Class A | 38500 | &nbsp;&nbsp; 312778 |
| Ping An Insurance Group Co. of China Ltd., Class H | 60500 | &nbsp;&nbsp; 415354 |
| Pop Mart International Group Ltd.<sup>(b)</sup> | 1000 | &nbsp;&nbsp; 31194 |
| RiseSun Real Estate Development Co. Ltd., Class A<sup>(a)</sup> | 1 | &nbsp;&nbsp; — |
| SAIC Motor Corp. Ltd., Class A | 17600 | &nbsp;&nbsp; 41818 |
| Sany Heavy Equipment International Holdings Co. Ltd. | 6000 | &nbsp;&nbsp; 5627 |
| SF Holding Co. Ltd., Class A | 17600 | &nbsp;&nbsp; 112069 |
| Simcere Pharmaceutical Group Ltd.<sup>(b)</sup> | 42000 | &nbsp;&nbsp; 70428 |
| Tencent Holdings Ltd. | 40100 | &nbsp;&nbsp; 2807489 |
| Topsports International Holdings Ltd.<sup>(b)</sup> | 127000 | &nbsp;&nbsp; 51238 |
| Trip.com Group Ltd. | 1850 | &nbsp;&nbsp; 114853 |
| Uni-President China Holdings Ltd. | 367000 | &nbsp;&nbsp; 463657 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **China (continued)** | **China (continued)** |  |
| Weichai Power Co. Ltd., Class A | 41800 | &nbsp;&nbsp; $87528 |
| Xiaomi Corp., Class B<sup>(a)(b)</sup> | 132400 | &nbsp;&nbsp; 890781 |
| ZMJ Group Co. Ltd., Class H | 79400 | &nbsp;&nbsp; 151170 |
|  |  | &nbsp;&nbsp; 14342277 |
| **Greece — 0.6%** | **Greece — 0.6%** |  |
| Eurobank Ergasias Services and Holdings SA, Class R | 51143 | &nbsp;&nbsp; 187713 |
| OPAP SA, Class R | 4738 | &nbsp;&nbsp; 106302 |
|  |  | &nbsp;&nbsp; 294015 |
| **Hong Kong — 0.1%** | **Hong Kong — 0.1%** |  |
| Sino Biopharmaceutical Ltd. | 46000 | &nbsp;&nbsp; 44054 |
| **Hungary — 0.0%** | **Hungary — 0.0%** |  |
| OTP Bank Nyrt | 64 | &nbsp;&nbsp; 5193 |
| **India — 14.6%** | **India — 14.6%** |  |
| Aarti Industries Ltd. | 2496 | &nbsp;&nbsp; 11916 |
| Ajanta Pharma Ltd. | 1477 | &nbsp;&nbsp; 46218 |
| Axis Bank Ltd. | 13646 | &nbsp;&nbsp; 165718 |
| Bajaj Finance Ltd. | 8562 | &nbsp;&nbsp; 85683 |
| Berger Paints India Ltd. | 14562 | &nbsp;&nbsp; 93572 |
| Bharat Electronics Ltd. | 6871 | &nbsp;&nbsp; 29850 |
| Bharat Petroleum Corp. Ltd. | 8655 | &nbsp;&nbsp; 32343 |
| Bharti Airtel Ltd. | 20228 | &nbsp;&nbsp; 440346 |
| Bharti Hexacom Ltd. | 1205 | &nbsp;&nbsp; 25249 |
| City Union Bank Ltd. | 19799 | &nbsp;&nbsp; 48182 |
| Coromandel International Ltd. | 1909 | &nbsp;&nbsp; 58374 |
| Dalmia Bharat Ltd. | 1606 | &nbsp;&nbsp; 40794 |
| Divi's Laboratories Ltd. | 73 | &nbsp;&nbsp; 5467 |
| DLF Ltd. | 1631 | &nbsp;&nbsp; 14506 |
| Dr. Lal PathLabs Ltd.<sup>(b)</sup> | 3625 | &nbsp;&nbsp; 129735 |
| Emami Ltd. | 2823 | &nbsp;&nbsp; 19281 |
| Firstsource Solutions Ltd. | 4348 | &nbsp;&nbsp; 16870 |
| Fortis Healthcare Ltd. | 11233 | &nbsp;&nbsp; 109384 |
| GE Vernova T&D India Ltd. | 2685 | &nbsp;&nbsp; 83579 |
| GlaxoSmithKline Pharmaceuticals Ltd. | 465 | &nbsp;&nbsp; 16704 |
| Great Eastern Shipping Co. Ltd. | 3007 | &nbsp;&nbsp; 32084 |
| HCL Technologies Ltd. | 6872 | &nbsp;&nbsp; 114557 |
| HDFC Bank Ltd. | 29588 | &nbsp;&nbsp; 678994 |
| Hindalco Industries Ltd. | 10290 | &nbsp;&nbsp; 79661 |
| Hindustan Aeronautics Ltd. | 1065 | &nbsp;&nbsp; 54811 |
| Hindustan Petroleum Corp. Ltd. | 3531 | &nbsp;&nbsp; 16765 |
| Hindustan Unilever Ltd. | 783 | &nbsp;&nbsp; 22487 |
| Hindustan Zinc Ltd. | 9443 | &nbsp;&nbsp; 45463 |
| Hitachi Energy India Ltd. | 222 | &nbsp;&nbsp; 50576 |
| ICICI Bank Ltd. | 27538 | &nbsp;&nbsp; 463720 |
| ICICI Bank Ltd., ADR | 1485 | &nbsp;&nbsp; 50044 |
| IndiaMart InterMesh Ltd.<sup>(b)</sup> | 3751 | &nbsp;&nbsp; 110357 |
| Indian Hotels Co. Ltd. | 1716 | &nbsp;&nbsp; 14433 |
| Indian Oil Corp. Ltd. | 10916 | &nbsp;&nbsp; 18034 |
| Indraprastha Gas Ltd. | 11831 | &nbsp;&nbsp; 27464 |
| Infosys Ltd. | 23271 | &nbsp;&nbsp; 395769 |
| Infosys Ltd., ADR | 2306 | &nbsp;&nbsp; 38556 |
| Intellect Design Arena Ltd. | 3755 | &nbsp;&nbsp; 43568 |
| InterGlobe Aviation Ltd.<sup>(a)(b)</sup> | 1208 | &nbsp;&nbsp; 81067 |
| ITC Ltd. | 20974 | &nbsp;&nbsp; 98362 |
| Jindal Saw Ltd. | 11398 | &nbsp;&nbsp; 27330 |
| JK Cement Ltd. | 1152 | &nbsp;&nbsp; 87236 |
| KEC International Ltd. | 2453 | &nbsp;&nbsp; 24012 |
| Kotak Mahindra Bank Ltd. | 4731 | &nbsp;&nbsp; 106591 |
| L&T Finance Ltd. | 6133 | &nbsp;&nbsp; 14109 |
| Larsen & Toubro Ltd. | 6390 | &nbsp;&nbsp; 264263 |
| Lemon Tree Hotels Ltd.<sup>(a)(b)</sup> | 18665 | &nbsp;&nbsp; 31740 |

---

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**BlackRock Advantage Emerging Markets Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **India (continued)** | **India (continued)** |  |
| LIC Housing Finance Ltd. | 5965 | &nbsp;&nbsp; $39724 |
| Lupin Ltd. | 650 | &nbsp;&nbsp; 14207 |
| Mahanagar Gas Ltd. | 870 | &nbsp;&nbsp; 13400 |
| Mahindra & Mahindra Ltd. | 3892 | &nbsp;&nbsp; 141780 |
| Maruti Suzuki India Ltd. | 282 | &nbsp;&nbsp; 40450 |
| MOIL Ltd., Class A | 9590 | &nbsp;&nbsp; 37406 |
| Multi Commodity Exchange of India Ltd. | 181 | &nbsp;&nbsp; 15795 |
| National Aluminium Co. Ltd. | 44303 | &nbsp;&nbsp; 92930 |
| Navin Fluorine International Ltd. | 279 | &nbsp;&nbsp; 16037 |
| NBCC India Ltd. | 20059 | &nbsp;&nbsp; 24574 |
| NCC Ltd./India | 13367 | &nbsp;&nbsp; 33040 |
| NTPC Ltd. | 16431 | &nbsp;&nbsp; 62361 |
| Oil & Natural Gas Corp. Ltd. | 14643 | &nbsp;&nbsp; 40118 |
| One 97 Communications Ltd.<sup>(a)</sup> | 3055 | &nbsp;&nbsp; 37753 |
| Paradeep Phosphates Ltd.<sup>(b)</sup> | 24127 | &nbsp;&nbsp; 58940 |
| Petronet LNG Ltd. | 16297 | &nbsp;&nbsp; 53429 |
| Power Grid Corp. of India Ltd. | 2299 | &nbsp;&nbsp; 7600 |
| PTC India Ltd. | 36711 | &nbsp;&nbsp; 80028 |
| Radico Khaitan Ltd. | 1503 | &nbsp;&nbsp; 46798 |
| Reliance Industries Ltd. | 31974 | &nbsp;&nbsp; 504949 |
| Sagility India Ltd.<sup>(a)</sup> | 47479 | &nbsp;&nbsp; 25078 |
| SBI Life Insurance Co. Ltd.<sup>(b)</sup> | 1154 | &nbsp;&nbsp; 24142 |
| Solar Industries India Ltd. | 242 | &nbsp;&nbsp; 39109 |
| SRF Ltd. | 480 | &nbsp;&nbsp; 16607 |
| State Bank of India | 17362 | &nbsp;&nbsp; 157307 |
| Steel Authority of India Ltd. | 119200 | &nbsp;&nbsp; 168324 |
| Strides Pharma Science Ltd. | 3806 | &nbsp;&nbsp; 37764 |
| Sun Pharmaceutical Industries Ltd. | 6053 | &nbsp;&nbsp; 117549 |
| Tata Consultancy Services Ltd. | 7704 | &nbsp;&nbsp; 265684 |
| Tata Motors Ltd. | 11443 | &nbsp;&nbsp; 86494 |
| Tata Steel Ltd. | 6175 | &nbsp;&nbsp; 11089 |
| Tech Mahindra Ltd. | 1477 | &nbsp;&nbsp; 24504 |
| Trent Ltd. | 792 | &nbsp;&nbsp; 45176 |
| UltraTech Cement Ltd. | 371 | &nbsp;&nbsp; 51656 |
| United Spirits Ltd. | 610 | &nbsp;&nbsp; 9313 |
| Vedanta Ltd. | 12293 | &nbsp;&nbsp; 59367 |
| Welspun Corp. Ltd. | 3240 | &nbsp;&nbsp; 34404 |
| Wipro Ltd. | 24867 | &nbsp;&nbsp; 69950 |
| Wipro Ltd., ADR<sup>(c)</sup> | 11652 | &nbsp;&nbsp; 31693 |
| Zee Entertainment Enterprises Ltd. | 41419 | &nbsp;&nbsp; 55587 |
|  |  | &nbsp;&nbsp; 7157940 |
| **Indonesia — 1.2%** | **Indonesia — 1.2%** |  |
| Aneka Tambang Tbk | 1881800 | &nbsp;&nbsp; 325618 |
| Bank Central Asia Tbk PT | 251100 | &nbsp;&nbsp; 125850 |
| Bank Mandiri Persero Tbk PT | 207400 | &nbsp;&nbsp; 56461 |
| Bank Rakyat Indonesia Persero Tbk PT | 348600 | &nbsp;&nbsp; 78062 |
|  |  | &nbsp;&nbsp; 585991 |
| **Kuwait — 0.7%** | **Kuwait — 0.7%** |  |
| Kuwait Finance House KSCP | 138283 | &nbsp;&nbsp; 364130 |
| **Malaysia — 1.9%** | **Malaysia — 1.9%** |  |
| KPJ Healthcare Bhd | 60000 | &nbsp;&nbsp; 36365 |
| Malayan Banking Bhd. | 206700 | &nbsp;&nbsp; 454620 |
| Tenaga Nasional Bhd | 139800 | &nbsp;&nbsp; 425823 |
|  |  | &nbsp;&nbsp; 916808 |
| **Mexico — 1.4%** | **Mexico — 1.4%** |  |
| Coca-Cola Femsa SAB de C.V. | 3269 | &nbsp;&nbsp; 27105 |
| Fomento Economico Mexicano SAB de C.V. | 2996 | &nbsp;&nbsp; 27047 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Mexico (continued)** | **Mexico (continued)** |  |
| Gentera SAB de C.V. | 217669 | &nbsp;&nbsp; $491876 |
| Grupo Financiero Banorte SAB de C.V., Class O | 16529 | &nbsp;&nbsp; 147302 |
|  |  | &nbsp;&nbsp; 693330 |
| **Philippines — 0.3%** | **Philippines — 0.3%** |  |
| International Container Terminal Services, Inc. | 21030 | &nbsp;&nbsp; 161477 |
| **Poland — 1.4%** | **Poland — 1.4%** |  |
| Asseco Poland SA | 282 | &nbsp;&nbsp; 15214 |
| Powszechna Kasa Oszczednosci Bank Polski SA | 16053 | &nbsp;&nbsp; 351505 |
| Powszechny Zaklad Ubezpieczen SA | 19323 | &nbsp;&nbsp; 323872 |
| Tauron Polska Energia SA<sup>(a)</sup> | 4876 | &nbsp;&nbsp; 10816 |
|  |  | &nbsp;&nbsp; 701407 |
| **Qatar — 0.3%** | **Qatar — 0.3%** |  |
| Qatar National Bank QPSC | 31508 | &nbsp;&nbsp; 161915 |
| **Russia — 0.0%** | **Russia — 0.0%** |  |
| Alrosa PJSC<sup>(a)(d)</sup> | 1407496 | &nbsp;&nbsp; 174 |
| **Saudi Arabia — 3.2%** | **Saudi Arabia — 3.2%** |  |
| Al Rajhi Bank | 22025 | &nbsp;&nbsp; 555340 |
| Banque Saudi Fransi | 7127 | &nbsp;&nbsp; 32561 |
| Power & Water Utility Co. for Jubail & Yanbu | 18035 | &nbsp;&nbsp; 192533 |
| Saudi Electricity Co. | 27627 | &nbsp;&nbsp; 108635 |
| Saudi National Bank | 59148 | &nbsp;&nbsp; 590244 |
| Zamil Industrial Investment Co.<sup>(a)</sup> | 7584 | &nbsp;&nbsp; 80697 |
|  |  | &nbsp;&nbsp; 1560010 |
| **South Africa — 2.7%** | **South Africa — 2.7%** |  |
| Capitec Bank Holdings Ltd. | 1227 | &nbsp;&nbsp; 237852 |
| FirstRand Ltd. | 84009 | &nbsp;&nbsp; 356749 |
| Gold Fields Ltd. | 4652 | &nbsp;&nbsp; 113448 |
| Gold Fields Ltd., ADR | 3461 | &nbsp;&nbsp; 84310 |
| Mr. Price Group Ltd. | 24995 | &nbsp;&nbsp; 289234 |
| Nedbank Group Ltd. | 14086 | &nbsp;&nbsp; 192210 |
| Sanlam Ltd. | 2955 | &nbsp;&nbsp; 14217 |
| Sasol Ltd.<sup>(a)</sup> | 2886 | &nbsp;&nbsp; 14846 |
|  |  | &nbsp;&nbsp; 1302866 |
| **South Korea — 10.8%** | **South Korea — 10.8%** |  |
| CJ ENM Co. Ltd.<sup>(a)</sup> | 203 | &nbsp;&nbsp; 9568 |
| Coupang, Inc., Class A<sup>(a)</sup> | 9330 | &nbsp;&nbsp; 274582 |
| Dongsung Finetec Co. Ltd. | 1036 | &nbsp;&nbsp; 20960 |
| E-MART, Inc. | 562 | &nbsp;&nbsp; 36036 |
| Hana Financial Group, Inc. | 512 | &nbsp;&nbsp; 31303 |
| HD Hyundai Heavy Industries Co. Ltd. | 547 | &nbsp;&nbsp; 191975 |
| &nbsp;&nbsp;&nbsp; HDC Hyundai Development Co-Engineering & <br> Construction, Class E<br>| 3836 | &nbsp;&nbsp; 64713 |
| HL Mando Co. Ltd. | 4810 | &nbsp;&nbsp; 119557 |
| Hugel, Inc.<sup>(a)</sup> | 270 | &nbsp;&nbsp; 65172 |
| Hyundai Elevator Co. Ltd. | 2566 | &nbsp;&nbsp; 156618 |
| Hyundai Marine & Fire Insurance Co. Ltd.<sup>(a)</sup> | 4254 | &nbsp;&nbsp; 80291 |
| Hyundai Steel Co. | 10197 | &nbsp;&nbsp; 259532 |
| KB Financial Group, Inc. | 2032 | &nbsp;&nbsp; 161439 |
| KB Financial Group, Inc., ADR | 764 | &nbsp;&nbsp; 60471 |
| Kia Corp. | 3420 | &nbsp;&nbsp; 250244 |
| Korea Electric Power Corp. | 1267 | &nbsp;&nbsp; 34997 |
| Korea Shipbuilding & Offshore Engineering Co. Ltd. | 772 | &nbsp;&nbsp; 198390 |
| KT Corp., ADR | 16770 | &nbsp;&nbsp; 338586 |
| Netmarble Corp.<sup>(b)</sup> | 1606 | &nbsp;&nbsp; 68587 |
| Pan Ocean Co. Ltd. | 33767 | &nbsp;&nbsp; 102046 |
| PharmaResearch Co. Ltd. | 459 | &nbsp;&nbsp; 182699 |
| Samsung E&A Co. Ltd. | 25787 | &nbsp;&nbsp; 488977 |
| Samsung Electronics Co. Ltd. | 30441 | &nbsp;&nbsp; 1551393 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**BlackRock Advantage Emerging Markets Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **South Korea (continued)** | **South Korea (continued)** |  |
| Samsung Securities Co. Ltd. | 4759 | &nbsp;&nbsp; $241255 |
| SK Hynix, Inc. | 1528 | &nbsp;&nbsp; 296151 |
| SK Telecom Co. Ltd. | 281 | &nbsp;&nbsp; 11350 |
|  |  | &nbsp;&nbsp; 5296892 |
| **Taiwan — 18.8%** | **Taiwan — 18.8%** |  |
| Accton Technology Corp. | 5000 | &nbsp;&nbsp; 147671 |
| Advantech Co. Ltd. | 2000 | &nbsp;&nbsp; 22248 |
| Arcadyan Technology Corp. | 51000 | &nbsp;&nbsp; 376886 |
| ASE Technology Holding Co. Ltd. | 21000 | &nbsp;&nbsp; 101837 |
| ASPEED Technology, Inc. | 2000 | &nbsp;&nbsp; 302882 |
| Bizlink Holding, Inc. | 4039 | &nbsp;&nbsp; 121480 |
| Delta Electronics, Inc. | 22000 | &nbsp;&nbsp; 414438 |
| Ennoconn Corp. | 3000 | &nbsp;&nbsp; 30499 |
| Hon Hai Precision Industry Co. Ltd. | 3000 | &nbsp;&nbsp; 17642 |
| King Yuan Electronics Co. Ltd. | 87000 | &nbsp;&nbsp; 340315 |
| Kinik Co. | 3000 | &nbsp;&nbsp; 32386 |
| L&K Engineering Co. Ltd. | 5000 | &nbsp;&nbsp; 53834 |
| MediaTek, Inc. | 13000 | &nbsp;&nbsp; 588699 |
| Nanya Technology Corp.<sup>(a)</sup> | 12000 | &nbsp;&nbsp; 17666 |
| Phison Electronics Corp. | 25000 | &nbsp;&nbsp; 438869 |
| Primax Electronics Ltd. | 123000 | &nbsp;&nbsp; 298104 |
| Realtek Semiconductor Corp. | 5000 | &nbsp;&nbsp; 95604 |
| TA Chen Stainless Pipe | 339000 | &nbsp;&nbsp; 444372 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 134000 | &nbsp;&nbsp; 5158900 |
| United Integrated Services Co. Ltd. | 9000 | &nbsp;&nbsp; 236288 |
|  |  | &nbsp;&nbsp; 9240620 |
| **Thailand — 3.1%** | **Thailand — 3.1%** |  |
| Advanced Info Service PCL, NVDR | 51700 | &nbsp;&nbsp; 459342 |
| Bangkok Bank PCL, NVDR | 57900 | &nbsp;&nbsp; 261712 |
| CP ALL PCL, NVDR | 123300 | &nbsp;&nbsp; 178148 |
| Delta Electronics Thailand PCL, NVDR | 11100 | &nbsp;&nbsp; 49134 |
| Krungthai Card PCL, NVDR | 9100 | &nbsp;&nbsp; 7919 |
| PTT Exploration & Production PCL, NVDR | 94300 | &nbsp;&nbsp; 363029 |
| Thai Oil PCL, NVDR | 186100 | &nbsp;&nbsp; 195749 |
|  |  | &nbsp;&nbsp; 1515033 |
| **Turkey — 0.5%** | **Turkey — 0.5%** |  |
| KOC Holding A/S, Class A | 3171 | &nbsp;&nbsp; 13970 |
| Migros Ticaret A/S, Class A | 14329 | &nbsp;&nbsp; 184789 |
| Tofas Turk Otomobil Fabrikasi A/S, Class A | 2395 | &nbsp;&nbsp; 13578 |
| Turkiye Garanti Bankasi A/S, Class A | 12609 | &nbsp;&nbsp; 44206 |
|  |  | &nbsp;&nbsp; 256543 |
| **United Arab Emirates — 1.3%** | **United Arab Emirates — 1.3%** |  |
| Abu Dhabi Commercial Bank PJSC | 37733 | &nbsp;&nbsp; 166972 |
| Emaar Properties PJSC | 79519 | &nbsp;&nbsp; 329312 |
| First Abu Dhabi Bank PJSC | 26876 | &nbsp;&nbsp; 131480 |
|  |  | &nbsp;&nbsp; 627764 |
| **Total Common Stocks — 94.0%** <br>**(Cost: $37,424,127)** | **Total Common Stocks — 94.0%** <br>**(Cost: $37,424,127)** | &nbsp;&nbsp; 46180004 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Preferred Securities** | **Preferred Securities** | **Preferred Securities** |
| **Preferred Stocks — 1.4%** | **Preferred Stocks — 1.4%** | **Preferred Stocks — 1.4%** |
| **Brazil — 1.4%** | **Brazil — 1.4%** |  |
| Banco Bradesco SA | 88620 | &nbsp;&nbsp; $245782 |
| Itau Unibanco Holding SA | 44185 | &nbsp;&nbsp; 277441 |
| Petroleo Brasileiro SA - Petrobras | 25811 | &nbsp;&nbsp; 150453 |
|  |  | &nbsp;&nbsp; 673676 |
| **Total Preferred Securities — 1.4%** <br>**(Cost: $527,421)** | **Total Preferred Securities — 1.4%** <br>**(Cost: $527,421)** | &nbsp;&nbsp; 673676 |
| **Warrants** | **Warrants** | **Warrants** |
| &nbsp;&nbsp;&nbsp; TA Chen Stainless Pipe Co. Ltd., (Expires 08/20/25, Strike <br> Price TWD 31.00)<sup>(a)(e)</sup><br>| 158000 | &nbsp;&nbsp; 2031 |
| **Total Warrants — 0.0%** <br>**(Cost: $—)** | **Total Warrants — 0.0%** <br>**(Cost: $—)** | &nbsp;&nbsp; 2031 |
| **Total Long-Term Investments — 95.4%** <br>**(Cost: $37,951,548)** | **Total Long-Term Investments — 95.4%** <br>**(Cost: $37,951,548)** | &nbsp;&nbsp; 46855711 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 4.1%** | **Money Market Funds — 4.1%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency Shares, <br> 4.44%<sup>(f)(g)(h)</sup><br>| 15995 | &nbsp;&nbsp; 16002 |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, Institutional Shares, <br> 4.20%<sup>(f)(g)</sup><br>| 2009958 | &nbsp;&nbsp; 2009958 |
| **Total Short-Term Securities — 4.1%** <br>**(Cost: $2,025,958)** | **Total Short-Term Securities — 4.1%** <br>**(Cost: $2,025,958)** | &nbsp;&nbsp; 2025960 |
| **Total Investments — 99.5%** <br>**(Cost: $39,977,506)** | **Total Investments — 99.5%** <br>**(Cost: $39,977,506)** | &nbsp;&nbsp; 48881671 |
| **Other Assets Less Liabilities — 0.5%** | **Other Assets Less Liabilities — 0.5%** | &nbsp;&nbsp; 245196 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $49126867 |

---

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

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

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

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

<sup>(d)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(e)</sup> Restricted security as to resale, excluding 144A securities. The Fund held restricted securities with a current value of $2,031, representing less than 0.05% of its net assets as of period end, and an original cost of $0. 

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

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

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

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**BlackRock Advantage Emerging Markets Fund** 

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 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>*04/30/25*<br>| *Purchases* <br>*at Cost*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/25*<br>| *Shares* <br>*Held at* <br>*07/31/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency Shares | $229216 | $—<br> $(213214 )<sup>(a)</sup><br>| &nbsp;&nbsp; $17 | $(17)<br>| $16002 | 15995 | $66 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Liquidity Funds, T-Fund, Institutional Shares | 134352787 | —<br> (132342829 )<sup>(a)</sup><br>| &nbsp;&nbsp; — |  | 2009958 | 2009958 | 33501 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $17 | $(17)<br>| $2025960 |  | $33567 | &nbsp;&nbsp; $— |

---

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

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

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

**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; MSCI Emerging Markets Index | &nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 09/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; $2043 | &nbsp;&nbsp;&nbsp;&nbsp; $50857 |

---

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Australia | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $223956 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $223956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil | &nbsp;&nbsp; 612979 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 612979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chile | &nbsp;&nbsp; 114630 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 114630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; China | &nbsp;&nbsp; 124568 | &nbsp;&nbsp;&nbsp;&nbsp; 14217709 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14342277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Greece | &nbsp;&nbsp; 106302 | &nbsp;&nbsp;&nbsp;&nbsp; 187713 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 294015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hong Kong | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44054 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 44054 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**BlackRock Advantage Emerging Markets Fund** 

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks (continued) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hungary | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $5193 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $5193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; India | &nbsp;&nbsp; 203872 | &nbsp;&nbsp;&nbsp;&nbsp; 6954068 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 7157940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indonesia | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 585991 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 585991 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Kuwait | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 364130 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 364130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Malaysia | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 916808 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 916808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexico | &nbsp;&nbsp; 693330 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 693330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Philippines | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 161477 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 161477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Poland | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 701407 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 701407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Qatar | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 161915 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 161915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Russia | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 174 | &nbsp;&nbsp;&nbsp;&nbsp; 174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Saudi Arabia | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1560010 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1560010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Africa | &nbsp;&nbsp; 290737 | &nbsp;&nbsp;&nbsp;&nbsp; 1012129 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1302866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; South Korea | &nbsp;&nbsp; 673639 | &nbsp;&nbsp;&nbsp;&nbsp; 4623253 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5296892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Taiwan | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9240620 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 9240620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Thailand | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1515033 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 1515033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Turkey | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 256543 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 256543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United Arab Emirates | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 627764 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 627764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; 673676 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 673676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2031 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 2025960 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 2025960 |
|  | &nbsp;&nbsp; $5519693 | &nbsp;&nbsp;&nbsp;&nbsp; $43361804 | &nbsp;&nbsp;&nbsp;&nbsp; $174 | &nbsp;&nbsp;&nbsp;&nbsp; $48881671 |
| Derivative Financial Instruments<sup>(a)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; $50857 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $50857 |

---

&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.

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| ADR | American Depositary Receipt |
| MSCI | Morgan Stanley Capital International |
| NVDR | Non-Voting Depositary Receipt |
| PCL | Public Company Limited |
| PIPE | Private Investment in Public Equity |
| PJSC | Public Joint Stock Company |
| SAW | State Aid Withholding |
| SRF | State Revolving Fund  |
| TA | Tax Allocation |

---

------

## 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:** BlackRock Advantage Emerging Markets Fund

- **b. EDGAR series identifier (if any):** S000033603

- **c. LEI of Series:** WEJ3VPF25HMUBXKZD351

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

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2025-07-31

**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:** $49943439.18

**Total Liabilities:** $819522.32

**Net Assets:** $49123916.86

**Cash Not Reported:** $160591.20

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000103257 | 4.56%                | 5.98%                | 1.45%                |
| Class ID C000198231 | 4.61%                | 6.10%                | 1.56%                |
| Class ID C000103256 | 4.61%                | 6.13%                | 1.40%                |
| Class ID C000103258 | 4.72%                | 6.10%                | 1.55%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1051620.35              | $738972.54                                 |
| Month 2  | $930382.15               | $1786884.80                                |
| Month 3  | $959061.63               | $-376750.01                                |

**Designated Index Information**

- **Index Name:** MSCI Emerging Markets Index

- **Index Identifier:** NDUEEGF

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HCL Technologies Ltd                                  | HCL Technologies Ltd                                    | CUSIP: 000000000<br>LEI: 549300C1F8OLYSOQYB65 | Long             | EC               | CORP              | IN        |      6872 | NS      | $114556.94    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Ping An Insurance Group Co of China Ltd               | Ping An Insurance Group Co of China Ltd                 | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |     60500 | NS      | $415354.33    | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| Sino Biopharmaceutical Ltd                            | Sino Biopharmaceutical Ltd                              | CUSIP: 000000000<br>LEI: 529900LPR4ADFEJAR786 | Long             | EC               | CORP              | KY        |     46000 | NS      | $44054.25     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Gold Fields Ltd                                       | Gold Fields Ltd                                         | CUSIP: 000000000<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |      4652 | NS      | $113447.95    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Xiaomi Corp                                           | Xiaomi Corp                                             | CUSIP: 000000000<br>LEI: 2549001ACVFAZRNMKL32 | Long             | EC               | CORP              | KY        |    132400 | NS      | $890780.62    | 1.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Indraprastha Gas Ltd                                  | Indraprastha Gas Ltd                                    | CUSIP: 000000000<br>LEI: 33580033VPD8D168H736 | Long             | EC               | CORP              | IN        |     11831 | NS      | $27463.69     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| MOIL Ltd                                              | MOIL Ltd                                                | CUSIP: 000000000<br>LEI: 335800KIMZB1TBYBFI12 | Long             | EC               | CORP              | IN        |      9590 | NS      | $37405.68     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Pan Ocean Co Ltd                                      | Pan Ocean Co Ltd                                        | CUSIP: 000000000<br>LEI: 988400HGOJIHDWPIAT45 | Long             | EC               | CORP              | KR        |     33767 | NS      | $102045.57    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Axis Bank Ltd                                         | Axis Bank Ltd                                           | CUSIP: 000000000<br>LEI: 549300HVNWMJPOFVNI41 | Long             | EC               | CORP              | IN        |     13646 | NS      | $165718.06    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Zamil Industrial Investment Co                        | Zamil Industrial Investment Co                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |      7584 | NS      | $80697.34     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Larsen & Toubro Ltd                                   | Larsen & Toubro Ltd                                     | CUSIP: 000000000<br>LEI: 3358003FR3JIC5FRXA90 | Long             | EC               | CORP              | IN        |      6390 | NS      | $264262.59    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Hindalco Industries Ltd                               | Hindalco Industries Ltd                                 | CUSIP: 000000000<br>LEI: 335800KXLE5NO5B4GF90 | Long             | EC               | CORP              | IN        |     10290 | NS      | $79661.24     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Dalmia Bharat Ltd                                     | Dalmia Bharat Ltd                                       | CUSIP: 000000000<br>LEI: 335800Q2I12HTQ7ETZ32 | Long             | EC               | CORP              | IN        |      1606 | NS      | $40793.76     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Alrosa PJSC                                           | Alrosa PJSC                                             | CUSIP: 000000000<br>LEI: 894500DKUWVBYZLLE651 | Long             | EC               | CORP              | RU        |   1407496 | NS      | $173.55       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| China International Capital Corp Ltd                  | China International Capital Corp Ltd                    | CUSIP: 000000000<br>LEI: 529900OS3SVVTT56QN67 | Long             | EC               | CORP              | CN        |     28000 | NS      | $140186.92    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| CP ALL PCL                                            | CP ALL PCL                                              | CUSIP: 000000000<br>LEI: 894500LSBZLM09TY1A91 | Long             | EC               | CORP              | TH        |    123300 | NS      | $178148.51    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| HL Mando Co Ltd                                       | HL Mando Co Ltd                                         | CUSIP: 000000000<br>LEI: 988400P5GM9DGVVOJQ79 | Long             | EC               | CORP              | KR        |      4810 | NS      | $119557.37    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| PDD Holdings Inc                                      | PDD Holdings Inc                                        | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |      1098 | NS      | $124568.10    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| United Integrated Services Co Ltd                     | United Integrated Services Co Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      9000 | NS      | $236287.83    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Kia Corp                                              | Kia Corp                                                | CUSIP: 000000000<br>LEI: 988400V8MJK9N7OI5X76 | Long             | EC               | CORP              | KR        |      3420 | NS      | $250244.00    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bradesco SA                                     | Banco Bradesco SA                                       | CUSIP: 000000000<br>LEI: 549300CTUU1RFXHQJE44 | Long             | EP               | CORP              | BR        |     88620 | NS      | $245782.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Hindustan Unilever Ltd                                | Hindustan Unilever Ltd                                  | CUSIP: 000000000<br>LEI: 5493007IW5N37IKRPM32 | Long             | EC               | CORP              | IN        |       783 | NS      | $22487.43     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| InterGlobe Aviation Ltd                               | InterGlobe Aviation Ltd                                 | CUSIP: 000000000<br>LEI: 33580079R8SLLO23XD19 | Long             | EC               | CORP              | IN        |      1208 | NS      | $81066.96     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Sany Heavy Equipment International Holdings Co Ltd    | Sany Heavy Equipment International Holdings Co Ltd      | CUSIP: 000000000<br>LEI: 254900BKG9FQLCKFVK72 | Long             | EC               | CORP              | KY        |      6000 | NS      | $5627.35      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SAIC Motor Corp Ltd                                   | SAIC Motor Corp Ltd                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     17600 | NS      | $41818.19     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| HD Hyundai Heavy Industries Co Ltd                    | HD Hyundai Heavy Industries Co Ltd                      | CUSIP: 000000000<br>LEI: 988400CAR8W9URQLGF30 | Long             | EC               | CORP              | KR        |       547 | NS      | $191974.75    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco de Chile                                        | Banco de Chile                                          | CUSIP: 000000000<br>LEI: 8B4EZFY8IHJC44TT2K84 | Long             | EC               | CORP              | CL        |    513240 | NS      | $70700.38     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Midea Group Co Ltd                                    | Midea Group Co Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     21900 | NS      | $212693.51    | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| PharmaResearch Co Ltd                                 | PharmaResearch Co Ltd                                   | CUSIP: 000000000<br>LEI: 988400WCI2SXC6H7SG23 | Long             | EC               | CORP              | KR        |       459 | NS      | $182699.12    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Lupin Ltd                                             | Lupin Ltd                                               | CUSIP: 000000000<br>LEI: 335800HHXTESDEE2FC65 | Long             | EC               | CORP              | IN        |       650 | NS      | $14207.16     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Coca-Cola Femsa SAB de CV                             | Coca-Cola Femsa SAB de CV                               | CUSIP: 000000000<br>LEI: 5493008KEVFYPMGTXO33 | Long             | EC               | CORP              | MX        |      3269 | NS      | $27105.06     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TA Chen Stainless Pipe                                | TA Chen Stainless Pipe                                  | CUSIP: 000000000<br>LEI: 254900953CKYO1W5WB63 | Long             | EC               | CORP              | TW        |    339000 | NS      | $444372.24    | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| TA CHEN STAINLESS PIPE CO LTD                         | TA CHEN STAINLESS PIPE CO LTD                           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | CORP              | TW        |    158000 | NS      | $2030.54      | 0.00%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Dr Lal PathLabs Ltd                                   | Dr Lal PathLabs Ltd                                     | CUSIP: 000000000<br>LEI: 984500E8E9CY102B9718 | Long             | EC               | CORP              | IN        |      3625 | NS      | $129734.66    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Infosys Ltd                                           | Infosys Ltd                                             | CUSIP: 000000000<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |     23271 | NS      | $395768.69    | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Vedanta Ltd                                           | Vedanta Ltd                                             | CUSIP: 000000000<br>LEI: 335800XDKX9KB5EMCO07 | Long             | EC               | CORP              | IN        |     12293 | NS      | $59367.32     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| PTC India Ltd                                         | PTC India Ltd                                           | CUSIP: 000000000<br>LEI: 335800A6CY6EXEXS5619 | Long             | EC               | CORP              | IN        |     36711 | NS      | $80028.28     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Welspun Corp Ltd                                      | Welspun Corp Ltd                                        | CUSIP: 000000000<br>LEI: 335800XKRIPYYRZNRQ31 | Long             | EC               | CORP              | IN        |      3240 | NS      | $34404.25     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Tenaga Nasional Bhd                                   | Tenaga Nasional Bhd                                     | CUSIP: 000000000<br>LEI: 549300FV8X6UID6I1413 | Long             | EC               | CORP              | MY        |    139800 | NS      | $425823.43    | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                            | Samsung Electronics Co Ltd                              | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     30441 | NS      | $1551393.24   | 3.16%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD Co Ltd                                            | BYD Co Ltd                                              | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |     12600 | NS      | $182769.68    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| United Spirits Ltd                                    | United Spirits Ltd                                      | CUSIP: 000000000<br>LEI: 3358004YFWQVX2EZDE82 | Long             | EC               | CORP              | IN        |       610 | NS      | $9313.24      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| RiseSun Real Estate Development Co Ltd                | RiseSun Real Estate Development Co Ltd                  | CUSIP: 000000000<br>LEI: 3003009NURYQJKU6MT26 | Long             | EC               | CORP              | CN        |         1 | NS      | $0.20         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Consultancy Services Ltd                         | Tata Consultancy Services Ltd                           | CUSIP: 000000000<br>LEI: 335800ZJKU9GPQRE2U66 | Long             | EC               | CORP              | IN        |      7704 | NS      | $265683.54    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Pop Mart International Group Ltd                      | Pop Mart International Group Ltd                        | CUSIP: 000000000<br>LEI: 9845000A05E8F937E337 | Long             | EC               | CORP              | KY        |      1000 | NS      | $31193.86     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Petroleo Brasileiro SA - Petrobras                    | Petroleo Brasileiro SA - Petrobras                      | CUSIP: 000000000<br>LEI: 5493000J801JZRCMFE49 | Long             | EP               | CORP              | BR        |     25811 | NS      | $150453.35    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd                               | Reliance Industries Ltd                                 | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |     31974 | NS      | $504948.91    | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| KEC International Ltd                                 | KEC International Ltd                                   | CUSIP: 000000000<br>LEI: 335800UCWKGDJBU7ZT31 | Long             | EC               | CORP              | IN        |      2453 | NS      | $24012.04     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Dongsung Finetec Co Ltd                               | Dongsung Finetec Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      1036 | NS      | $20960.43     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Arcadyan Technology Corp                              | Arcadyan Technology Corp                                | CUSIP: 000000000<br>LEI: 254900R5W61G3GO1Q067 | Long             | EC               | CORP              | TW        |     51000 | NS      | $376886.41    | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Bangkok Bank PCL                                      | Bangkok Bank PCL                                        | CUSIP: 000000000<br>LEI: 549300CCL2BKJGMYXV60 | Long             | EC               | CORP              | TH        |     57900 | NS      | $261711.97    | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Berger Paints India Ltd                               | Berger Paints India Ltd                                 | CUSIP: 000000000<br>LEI: 335800TNTIBFAWWUZD51 | Long             | EC               | CORP              | IN        |     14562 | NS      | $93572.27     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Strides Pharma Science Ltd                            | Strides Pharma Science Ltd                              | CUSIP: 000000000<br>LEI: 335800WHFYXUCHR9DD10 | Long             | EC               | CORP              | IN        |      3806 | NS      | $37763.87     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Trent Ltd                                             | Trent Ltd                                               | CUSIP: 000000000<br>LEI: 335800IYA8EHI7MW7G59 | Long             | EC               | CORP              | IN        |       792 | NS      | $45175.91     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Aarti Industries Ltd                                  | Aarti Industries Ltd                                    | CUSIP: 000000000<br>LEI: 335800JBE5SD89NHB831 | Long             | EC               | CORP              | IN        |      2496 | NS      | $11915.69     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Tauron Polska Energia SA                              | Tauron Polska Energia SA                                | CUSIP: 000000000<br>LEI: 259400NAPDFBOTNCRL54 | Long             | EC               | CORP              | PL        |      4876 | NS      | $10816.34     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| OPAP SA                                               | OPAP SA                                                 | CUSIP: 000000000<br>LEI: 213800M4NRGFJCI34834 | Long             | EC               | CORP              | GR        |      4738 | NS      | $106301.68    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Divi's Laboratories Ltd                               | Divi's Laboratories Ltd                                 | CUSIP: 000000000<br>LEI: 335800C1DHFG1C9T1M03 | Long             | EC               | CORP              | IN        |        73 | NS      | $5466.57      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ASE Technology Holding Co Ltd                         | ASE Technology Holding Co Ltd                           | CUSIP: 000000000<br>LEI: 300300GO8QHPMV87NZ73 | Long             | EC               | CORP              | TW        |     21000 | NS      | $101837.09    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| OTP Bank Nyrt                                         | OTP Bank Nyrt                                           | CUSIP: 000000000<br>LEI: 529900W3MOO00A18X956 | Long             | EC               | CORP              | HU        |        64 | NS      | $5193.34      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sasol Ltd                                             | Sasol Ltd                                               | CUSIP: 000000000<br>LEI: 378900F4544561A97588 | Long             | EC               | CORP              | ZA        |      2886 | NS      | $14845.86     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Gree Electric Appliances Inc of Zhuhai                | Gree Electric Appliances Inc of Zhuhai                  | CUSIP: 000000000<br>LEI: 655600UY069MU9JRAN62 | Long             | EC               | CORP              | CN        |     71900 | NS      | $454401.95    | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Coromandel International Ltd                          | Coromandel International Ltd                            | CUSIP: 000000000<br>LEI: 335800U73K3HJSQKT249 | Long             | EC               | CORP              | IN        |      1909 | NS      | $58374.45     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Aneka Tambang Tbk                                     | Aneka Tambang Tbk                                       | CUSIP: 000000000<br>LEI: 529900LRE2NALSSHMB80 | Long             | EC               | CORP              | ID        |   1881800 | NS      | $325617.44    | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc                                          | MediaTek Inc                                            | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |     13000 | NS      | $588699.34    | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Mr Price Group Ltd                                    | Mr Price Group Ltd                                      | CUSIP: 000000000<br>LEI: 378900D3417C35C5D733 | Long             | EC               | CORP              | ZA        |     24995 | NS      | $289234.21    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Itau Unibanco Holding SA                              | Itau Unibanco Holding SA                                | CUSIP: 000000000<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EP               | CORP              | BR        |     44185 | NS      | $277440.97    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentera SAB de CV                                     | Gentera SAB de CV                                       | CUSIP: 000000000<br>LEI: 4469000001ECOWXFNE33 | Long             | EC               | CORP              | MX        |    217669 | NS      | $491875.40    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo SBF SA                                          | Grupo SBF SA                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     24764 | NS      | $48603.26     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Zee Entertainment Enterprises Ltd                     | Zee Entertainment Enterprises Ltd                       | CUSIP: 000000000<br>LEI: 254900EQIYPXZEO10B94 | Long             | EC               | CORP              | IN        |     41419 | NS      | $55587.39     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Financial Group Inc                                | KB Financial Group Inc                                  | CUSIP: 48241A105<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |       764 | NS      | $60470.60     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Funds III                                   | BlackRock Cash Funds: Institutional, SL Agency Shares   | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |     15995 | NS      | $16001.56     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| JD Logistics Inc                                      | JD Logistics Inc                                        | CUSIP: 000000000<br>LEI: 655600LWTFVMV3E2A890 | Long             | EC               | CORP              | KY        |     19400 | NS      | $33620.53     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| ITC Ltd                                               | ITC Ltd                                                 | CUSIP: 000000000<br>LEI: 335800WLOU3OFWFTMP43 | Long             | EC               | CORP              | IN        |     20974 | NS      | $98361.65     | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| FirstRand Ltd                                         | FirstRand Ltd                                           | CUSIP: 000000000<br>LEI: 529900XYOP8CUZU7R671 | Long             | EC               | CORP              | ZA        |     84009 | NS      | $356749.07    | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Kuwait Finance House KSCP                             | Kuwait Finance House KSCP                               | CUSIP: 000000000<br>LEI: 2549007KX0N057S9BC98 | Long             | EC               | CORP              | KW        |    138283 | NS      | $364130.33    | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| LIC Housing Finance Ltd                               | LIC Housing Finance Ltd                                 | CUSIP: 000000000<br>LEI: 335800NFSMJ2ZKBCYP06 | Long             | EC               | CORP              | IN        |      5965 | NS      | $39724.13     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Sun Pharmaceutical Industries Ltd                     | Sun Pharmaceutical Industries Ltd                       | CUSIP: 000000000<br>LEI: 335800KJ7GE29LB4SS73 | Long             | EC               | CORP              | IN        |      6053 | NS      | $117549.44    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Rakyat Indonesia Persero Tbk PT                  | Bank Rakyat Indonesia Persero Tbk PT                    | CUSIP: 000000000<br>LEI: 254900HB6S4B12GBNP64 | Long             | EC               | CORP              | ID        |    348600 | NS      | $78062.16     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd                                         | HDFC Bank Ltd                                           | CUSIP: 000000000<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |     29588 | NS      | $678994.25    | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Thailand PCL                        | Delta Electronics Thailand PCL                          | CUSIP: 000000000<br>LEI: 529900JKLVG9Y2SVWL93 | Long             | EC               | CORP              | TH        |     11100 | NS      | $49133.88     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Gold Fields Ltd                                       | Gold Fields Ltd                                         | CUSIP: 38059T106<br>LEI: 5299003KXIBJQYCBBD72 | Long             | EC               | CORP              | ZA        |      3461 | NS      | $84309.96     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang Inc                                           | Coupang Inc                                             | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |      9330 | NS      | $274581.90    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Simcere Pharmaceutical Group Ltd                      | Simcere Pharmaceutical Group Ltd                        | CUSIP: 000000000<br>LEI: 254900WU599EZJIML194 | Long             | EC               | CORP              | HK        |     42000 | NS      | $70428.35     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Hexacom Ltd                                    | Bharti Hexacom Ltd                                      | CUSIP: 000000000<br>LEI: 335800GJ4U5YVWJGAP02 | Long             | EC               | CORP              | IN        |      1205 | NS      | $25249.11     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander Brasil SA                             | Banco Santander Brasil SA                               | CUSIP: 05967A107<br>LEI: 549300D1H731B30TSI43 | Long             | EC               | CORP              | BR        |      1857 | NS      | $8765.04      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Saudi Electricity Co                                  | Saudi Electricity Co                                    | CUSIP: 000000000<br>LEI: 549300FXO4ZXUIAXGP41 | Long             | EC               | CORP              | SA        |     27627 | NS      | $108635.21    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Infosys Ltd                                           | Infosys Ltd                                             | CUSIP: 456788108<br>LEI: 335800TYLGG93MM7PR89 | Long             | EC               | CORP              | IN        |      2306 | NS      | $38556.32     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NTPC Ltd                                              | NTPC Ltd                                                | CUSIP: 000000000<br>LEI: 335800Q4TRGJXNLVMB81 | Long             | EC               | CORP              | IN        |     16431 | NS      | $62360.87     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of China Ltd                                     | Bank of China Ltd                                       | CUSIP: 000000000<br>LEI: 54930053HGCFWVHYZX42 | Long             | EC               | CORP              | CN        |    818000 | NS      | $472160.44    | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| HDC Hyundai Development Co-Engineering & Construction | HDC Hyundai Development Co-Engineering & Construction   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      3836 | NS      | $64713.15     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharat Electronics Ltd                                | Bharat Electronics Ltd                                  | CUSIP: 000000000<br>LEI: 335800HS8AOTM9W1F335 | Long             | EC               | CORP              | IN        |      6871 | NS      | $29849.67     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| YDUQS Participacoes SA                                | YDUQS Participacoes SA                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |     13525 | NS      | $31254.92     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| HD Korea Shipbuilding & Offshore Engineering Co Ltd   | HD Korea Shipbuilding & Offshore Engineering Co Ltd     | CUSIP: 000000000<br>LEI: 988400DPTJ9KH5R6W540 | Long             | EC               | CORP              | KR        |       772 | NS      | $198390.24    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Huatai Securities Co Ltd                              | Huatai Securities Co Ltd                                | CUSIP: 000000000<br>LEI: 3003009ABT0UCWO79Q77 | Long             | EC               | CORP              | CN        |    179700 | NS      | $498434.98    | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nanya Technology Corp                                 | Nanya Technology Corp                                   | CUSIP: 000000000<br>LEI: 254900STKVKJBRRO0835 | Long             | EC               | CORP              | TW        |     12000 | NS      | $17666.08     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Oil & Natural Gas Corp Ltd                            | Oil & Natural Gas Corp Ltd                              | CUSIP: 000000000<br>LEI: 335800FPDZ9MRSNO7N41 | Long             | EC               | CORP              | IN        |     14643 | NS      | $40117.99     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| State Bank of India                                   | State Bank of India                                     | CUSIP: 000000000<br>LEI: 5493001JZ37UBBZF6L49 | Long             | EC               | CORP              | IN        |     17362 | NS      | $157307.36    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Central Asia Tbk PT                              | Bank Central Asia Tbk PT                                | CUSIP: 000000000<br>LEI: 254900BR956G2OHVOM21 | Long             | EC               | CORP              | ID        |    251100 | NS      | $125850.18    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Power Grid Corp of India Ltd                          | Power Grid Corp of India Ltd                            | CUSIP: 000000000<br>LEI: 3358009SHWZ3DZEQ4Z56 | Long             | EC               | CORP              | IN        |      2299 | NS      | $7599.96      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BHP Group Ltd                                         | BHP Group Ltd                                           | CUSIP: 000000000<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |      9036 | NS      | $223956.03    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| BeOne Medicines Ltd                                   | BeOne Medicines Ltd                                     | CUSIP: 000000000<br>LEI: 549300JFUK6FRD5MH739 | Long             | EC               | CORP              | CH        |      5700 | NS      | $129586.15    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Uni-President China Holdings Ltd                      | Uni-President China Holdings Ltd                        | CUSIP: 000000000<br>LEI: 529900JUA05094TOKA73 | Long             | EC               | CORP              | KY        |    367000 | NS      | $463656.49    | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Emami Ltd                                             | Emami Ltd                                               | CUSIP: 000000000<br>LEI: 335800CCQHJCDEUS7G90 | Long             | EC               | CORP              | IN        |      2823 | NS      | $19281.08     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Thai Oil PCL                                          | Thai Oil PCL                                            | CUSIP: 000000000<br>LEI: 549300HG5527UPZLTT69 | Long             | EC               | CORP              | TH        |    186100 | NS      | $195748.87    | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Hindustan Aeronautics Ltd                             | Hindustan Aeronautics Ltd                               | CUSIP: 000000000<br>LEI: 335800AKDC7T933T3I86 | Long             | EC               | CORP              | IN        |      1065 | NS      | $54811.33     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| KB Financial Group Inc                                | KB Financial Group Inc                                  | CUSIP: 000000000<br>LEI: 529900TKE4MXG3Q6GW86 | Long             | EC               | CORP              | KR        |      2032 | NS      | $161438.66    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Jindal Saw Ltd                                        | Jindal Saw Ltd                                          | CUSIP: 000000000<br>LEI: 335800DDPMLWP71NRQ10 | Long             | EC               | CORP              | IN        |     11398 | NS      | $27329.96     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| SF Holding Co Ltd                                     | SF Holding Co Ltd                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |     17600 | NS      | $112069.24    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| KT Corp                                               | KT Corp                                                 | CUSIP: 48268K101<br>LEI: 9884005ACF8449EANY26 | Long             | EC               | CORP              | KR        |     16770 | NS      | $338586.30    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEED Technology Inc                                 | ASPEED Technology Inc                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      2000 | NS      | $302881.47    | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| PTT Exploration & Production PCL                      | PTT Exploration & Production PCL                        | CUSIP: 000000000<br>LEI: 2549001O8YYGP5N7Q076 | Long             | EC               | CORP              | TH        |     94300 | NS      | $363029.35    | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanlam Ltd                                            | Sanlam Ltd                                              | CUSIP: 000000000<br>LEI: 37890014418406D9FC23 | Long             | EC               | CORP              | ZA        |      2955 | NS      | $14216.77     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial & Commercial Bank of China Ltd             | Industrial & Commercial Bank of China Ltd               | CUSIP: 000000000<br>LEI: 5493002ERZU2K9PZDL40 | Long             | EC               | CORP              | CN        |    421000 | NS      | $322580.60    | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Santander Brasil SA                             | Banco Santander Brasil SA                               | CUSIP: 000000000<br>LEI: 549300D1H731B30TSI43 | Long             | EC               | CORP              | BR        |     27723 | NS      | $130853.17    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE Futures U.S., Inc.                                | MSCI EMGMKT SEP25                                       | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               |  | US        |        42 | NC      | $74473.85     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Intellect Design Arena Ltd                            | Intellect Design Arena Ltd                              | CUSIP: 000000000<br>LEI: 3358004QZC2VU3T3ZI04 | Long             | EC               | CORP              | IN        |      3755 | NS      | $43567.64     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Malayan Banking Bhd                                   | Malayan Banking Bhd                                     | CUSIP: 000000000<br>LEI: 5493004OT3TOY404V310 | Long             | EC               | CORP              | MY        |    206700 | NS      | $454620.05    | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| Kinik Co                                              | Kinik Co                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      3000 | NS      | $32386.07     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank Mandiri Persero Tbk PT                           | Bank Mandiri Persero Tbk PT                             | CUSIP: 000000000<br>LEI: 549300RSKQN4Z5ZSGH94 | Long             | EC               | CORP              | ID        |    207400 | NS      | $56460.66     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Sagility India Ltd                                    | Sagility India Ltd                                      | CUSIP: 000000000<br>LEI: 9845009870B757E1WA45 | Long             | EC               | CORP              | IN        |     47479 | NS      | $25077.82     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Navin Fluorine International Ltd                      | Navin Fluorine International Ltd                        | CUSIP: 000000000<br>LEI: 335800OVIUAAKYG44C59 | Long             | EC               | CORP              | IN        |       279 | NS      | $16037.17     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco de Chile                                        | Banco de Chile                                          | CUSIP: 059520106<br>LEI: 8B4EZFY8IHJC44TT2K84 | Long             | EC               | CORP              | CL        |      1608 | NS      | $43930.56     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Geely Automobile Holdings Ltd                         | Geely Automobile Holdings Ltd                           | CUSIP: 000000000<br>LEI: 549300YS3T1KVQ2SNI84 | Long             | EC               | CORP              | KY        |     62000 | NS      | $139067.09    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Telecom Co Ltd                                     | SK Telecom Co Ltd                                       | CUSIP: 000000000<br>LEI: 9884003WEA1PHW006037 | Long             | EC               | CORP              | KR        |       281 | NS      | $11350.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Topsports International Holdings Ltd                  | Topsports International Holdings Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    127000 | NS      | $51237.90     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| City Union Bank Ltd                                   | City Union Bank Ltd                                     | CUSIP: 000000000<br>LEI: 33580024M7FWA847JI64 | Long             | EC               | CORP              | IN        |     19799 | NS      | $48181.83     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Maruti Suzuki India Ltd                               | Maruti Suzuki India Ltd                                 | CUSIP: 000000000<br>LEI: 335800D27PBEESKKD357 | Long             | EC               | CORP              | IN        |       282 | NS      | $40449.77     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| ZMJ Group Co Ltd                                      | ZMJ Group Co Ltd                                        | CUSIP: 000000000<br>LEI: 300300PYAQHLZLU5N973 | Long             | EC               | CORP              | CN        |     79400 | NS      | $151169.76    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Hana Financial Group Inc                              | Hana Financial Group Inc                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       512 | NS      | $31303.21     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| KE Holdings Inc                                       | KE Holdings Inc                                         | CUSIP: 000000000<br>LEI: 254900RHVY072XPAZE03 | Long             | EC               | CORP              | KY        |     18199 | NS      | $111305.46    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| NetEase Inc                                           | NetEase Inc                                             | CUSIP: 000000000<br>LEI: 5299004AF4DSJDB0PA32 | Long             | EC               | CORP              | KY        |     23770 | NS      | $621401.03    | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| China State Construction Engineering Corp Ltd         | China State Construction Engineering Corp Ltd           | CUSIP: 000000000<br>LEI: 300300CWW8WOEV3BR645 | Long             | EC               | CORP              | CN        |     16000 | NS      | $12542.79     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Firstsource Solutions Ltd                             | Firstsource Solutions Ltd                               | CUSIP: 000000000<br>LEI: 335800UFBBNPDIZWQX32 | Long             | EC               | CORP              | IN        |      4348 | NS      | $16869.61     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Emaar Properties PJSC                                 | Emaar Properties PJSC                                   | CUSIP: 000000000<br>LEI: 254900YWYEXYXK1BMP81 | Long             | EC               | CORP              | AE        |     79519 | NS      | $329312.08    | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| JK Cement Ltd                                         | JK Cement Ltd                                           | CUSIP: 000000000<br>LEI: 335800IECEF3EIDGF809 | Long             | EC               | CORP              | IN        |      1152 | NS      | $87235.65     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| China Life Insurance Co Ltd                           | China Life Insurance Co Ltd                             | CUSIP: 000000000<br>LEI: 549300J6TFLDXGH6S048 | Long             | EC               | CORP              | CN        |    187000 | NS      | $540169.96    | 1.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung E&A Co Ltd                                    | Samsung E&A Co Ltd                                      | CUSIP: 000000000<br>LEI: 988400HDAY5KIVHGZ188 | Long             | EC               | CORP              | KR        |     25787 | NS      | $488977.13    | 1.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Grupo Financiero Banorte SAB de CV                    | Grupo Financiero Banorte SAB de CV                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MX        |     16529 | NS      | $147302.17    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Kotak Mahindra Bank Ltd                               | Kotak Mahindra Bank Ltd                                 | CUSIP: 000000000<br>LEI: 335800E6GTTXKHXE2I75 | Long             | EC               | CORP              | IN        |      4731 | NS      | $106591.05    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Hugel Inc                                             | Hugel Inc                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |       270 | NS      | $65172.28     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Qatar National Bank QPSC                              | Qatar National Bank QPSC                                | CUSIP: 000000000<br>LEI: 549300FFSRVBS0SQXY75 | Long             | EC               | CORP              | QA        |     31508 | NS      | $161914.58    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharti Airtel Ltd                                     | Bharti Airtel Ltd                                       | CUSIP: 000000000<br>LEI: 335800KQ1FPKOQ84OR26 | Long             | EC               | CORP              | IN        |     20228 | NS      | $440346.08    | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| CJ ENM Co Ltd                                         | CJ ENM Co Ltd                                           | CUSIP: 000000000<br>LEI: 9884005N1TS61ILH6840 | Long             | EC               | CORP              | KR        |       203 | NS      | $9568.31      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Hyundai Steel Co                                      | Hyundai Steel Co                                        | CUSIP: 000000000<br>LEI: 9884006EYA94IB2C3132 | Long             | EC               | CORP              | KR        |     10197 | NS      | $259531.73    | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Powszechny Zaklad Ubezpieczen SA                      | Powszechny Zaklad Ubezpieczen SA                        | CUSIP: 000000000<br>LEI: QLPCKOOKVX32FUELX240 | Long             | EC               | CORP              | PL        |     19323 | NS      | $323872.37    | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                             | BlackRock Liquidity Funds: T-Fund, Institutional Shares | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   2009958 | NS      | $2009957.77   | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Wipro Ltd                                             | Wipro Ltd                                               | CUSIP: 000000000<br>LEI: 335800IFS1IJHESG8362 | Long             | EC               | CORP              | IN        |     24867 | NS      | $69949.78     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Netmarble Corp                                        | Netmarble Corp                                          | CUSIP: 000000000<br>LEI: 988400T1LQCQT8H5EO27 | Long             | EC               | CORP              | KR        |      1606 | NS      | $68586.62     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| National Aluminium Co Ltd                             | National Aluminium Co Ltd                               | CUSIP: 000000000<br>LEI: 335800OM1V78CX7SSC72 | Long             | EC               | CORP              | IN        |     44303 | NS      | $92930.00     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Motors Ltd                                       | Tata Motors Ltd                                         | CUSIP: 000000000<br>LEI: 335800BO2LHWJJ8TZI32 | Long             | EC               | CORP              | IN        |     11443 | NS      | $86493.78     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Mahindra & Mahindra Ltd                               | Mahindra & Mahindra Ltd                                 | CUSIP: 000000000<br>LEI: 3358003B573EV4KB4Z02 | Long             | EC               | CORP              | IN        |      3892 | NS      | $141780.03    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Hyundai Marine & Fire Insurance Co Ltd                | Hyundai Marine & Fire Insurance Co Ltd                  | CUSIP: 000000000<br>LEI: 988400SYR92543UITC37 | Long             | EC               | CORP              | KR        |      4254 | NS      | $80290.66     | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Hindustan Petroleum Corp Ltd                          | Hindustan Petroleum Corp Ltd                            | CUSIP: 000000000<br>LEI: 335800DWLXIP7HFFY564 | Long             | EC               | CORP              | IN        |      3531 | NS      | $16764.63     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Abu Dhabi Commercial Bank PJSC                        | Abu Dhabi Commercial Bank PJSC                          | CUSIP: 000000000<br>LEI: 213800RWVKKIRX1AUH58 | Long             | EC               | CORP              | AE        |     37733 | NS      | $166972.09    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Ajanta Pharma Ltd                                     | Ajanta Pharma Ltd                                       | CUSIP: 000000000<br>LEI: 3358008XLYJJZBFBCK12 | Long             | EC               | CORP              | IN        |      1477 | NS      | $46217.68     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurobank Ergasias Services and Holdings SA            | Eurobank Ergasias Services and Holdings SA              | CUSIP: 000000000<br>LEI: JEUVK5RWVJEN8W0C9M24 | Long             | EC               | CORP              | GR        |     51143 | NS      | $187713.22    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Bharat Petroleum Corp Ltd                             | Bharat Petroleum Corp Ltd                               | CUSIP: 000000000<br>LEI: 8GRDBX1TJ0PU5NCSHT72 | Long             | EC               | CORP              | IN        |      8655 | NS      | $32343.18     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Lojas Renner SA                                       | Lojas Renner SA                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    102642 | NS      | $298235.63    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Tofas Turk Otomobil Fabrikasi AS                      | Tofas Turk Otomobil Fabrikasi AS                        | CUSIP: 000000000<br>LEI: 789000YSTNETKLRWHT29 | Long             | EC               | CORP              | TR        |      2395 | NS      | $13577.76     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| JD.com Inc                                            | JD.com Inc                                              | CUSIP: 000000000<br>LEI: 549300HVTWB0GJZ16V92 | Long             | EC               | CORP              | KY        |     27960 | NS      | $440703.64    | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Fomento Economico Mexicano SAB de CV                  | Fomento Economico Mexicano SAB de CV                    | CUSIP: 000000000<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |      2996 | NS      | $27047.38     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Trip.com Group Ltd                                    | Trip.com Group Ltd                                      | CUSIP: 000000000<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |      1850 | NS      | $114852.51    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Wipro Ltd                                             | Wipro Ltd                                               | CUSIP: 97651M109<br>LEI: 335800IFS1IJHESG8362 | Long             | EC               | CORP              | IN        |     11652 | NS      | $31693.44     | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| Nedbank Group Ltd                                     | Nedbank Group Ltd                                       | CUSIP: 000000000<br>LEI: 3789009E42FA3CB31065 | Long             | EC               | CORP              | ZA        |     14086 | NS      | $192210.64    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Radico Khaitan Ltd                                    | Radico Khaitan Ltd                                      | CUSIP: 000000000<br>LEI: 335800P7T5DW332M7E19 | Long             | EC               | CORP              | IN        |      1503 | NS      | $46797.60     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| First Abu Dhabi Bank PJSC                             | First Abu Dhabi Bank PJSC                               | CUSIP: 000000000<br>LEI: 2138002Y3WMK6RZS8H90 | Long             | EC               | CORP              | AE        |     26876 | NS      | $131479.98    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Mahanagar Gas Ltd                                     | Mahanagar Gas Ltd                                       | CUSIP: 000000000<br>LEI: 3358001GYZI2KS7FHN90 | Long             | EC               | CORP              | IN        |       870 | NS      | $13399.64     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Bilibili Inc                                          | Bilibili Inc                                            | CUSIP: 000000000<br>LEI: 5493008V60M52L3PIS45 | Long             | EC               | CORP              | KY        |       700 | NS      | $16015.35     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| PetroChina Co Ltd                                     | PetroChina Co Ltd                                       | CUSIP: 000000000<br>LEI: 529900RPY4YG47TRSV05 | Long             | EC               | CORP              | CN        |    385700 | NS      | $376918.08    | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| IEIT Systems Co Ltd                                   | IEIT Systems Co Ltd                                     | CUSIP: 000000000<br>LEI: 3003002K6ZLEBRGRI729 | Long             | EC               | CORP              | CN        |     19600 | NS      | $150916.40    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Kuaishou Technology                                   | Kuaishou Technology                                     | CUSIP: 000000000<br>LEI: 300300FCDZBE6UP9ED24 | Long             | EC               | CORP              | KY        |      2600 | NS      | $25386.53     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc                                 | Delta Electronics Inc                                   | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |     22000 | NS      | $414438.12    | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Capitec Bank Holdings Ltd                             | Capitec Bank Holdings Ltd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |      1227 | NS      | $237851.96    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Securities Co Ltd                             | Samsung Securities Co Ltd                               | CUSIP: 000000000<br>LEI: 988400RBTJTHNUOHE716 | Long             | EC               | CORP              | KR        |      4759 | NS      | $241254.86    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Multi Commodity Exchange of India Ltd                 | Multi Commodity Exchange of India Ltd                   | CUSIP: 000000000<br>LEI: 254900BTZEPM27IOAM68 | Long             | EC               | CORP              | IN        |       181 | NS      | $15795.42     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Hitachi Energy India Ltd                              | Hitachi Energy India Ltd                                | CUSIP: 000000000<br>LEI: 549300ASJQYQLII9F213 | Long             | EC               | CORP              | IN        |       222 | NS      | $50576.50     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Migros Ticaret AS                                     | Migros Ticaret AS                                       | CUSIP: 000000000<br>LEI: 5493002IOWNT1QZMAA74 | Long             | EC               | CORP              | TR        |     14329 | NS      | $184789.43    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Info Service PCL                             | Advanced Info Service PCL                               | CUSIP: 000000000<br>LEI: 529900DU2YW1NO5RMU78 | Long             | EC               | CORP              | TH        |     51700 | NS      | $459341.67    | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Ennoconn Corp                                         | Ennoconn Corp                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      3000 | NS      | $30499.01     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Tech Mahindra Ltd                                     | Tech Mahindra Ltd                                       | CUSIP: 000000000<br>LEI: 3358005FZUZ1I25XQH69 | Long             | EC               | CORP              | IN        |      1477 | NS      | $24503.51     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| KOC Holding AS                                        | KOC Holding AS                                          | CUSIP: 000000000<br>LEI: 7890005U0H950VH19H45 | Long             | EC               | CORP              | TR        |      3171 | NS      | $13969.46     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| China Hongqiao Group Ltd                              | China Hongqiao Group Ltd                                | CUSIP: 000000000<br>LEI: 3003009Q4IBFSDE24571 | Long             | EC               | CORP              | KY        |     12000 | NS      | $31654.75     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Krungthai Card PCL                                    | Krungthai Card PCL                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |      9100 | NS      | $7919.02      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Turkiye Garanti Bankasi AS                            | Turkiye Garanti Bankasi AS                              | CUSIP: 000000000<br>LEI: 5493002XSS7K7RHN1V37 | Long             | EC               | CORP              | TR        |     12609 | NS      | $44206.09     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| IndiaMart InterMesh Ltd                               | IndiaMart InterMesh Ltd                                 | CUSIP: 000000000<br>LEI: 335800VCSXC76EXLSH68 | Long             | EC               | CORP              | IN        |      3751 | NS      | $110356.96    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| 3SBio Inc                                             | 3SBio Inc                                               | CUSIP: 000000000<br>LEI: 529900P0TQC1E9Y7FN31 | Long             | EC               | CORP              | KY        |      8500 | NS      | $34362.73     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| GE Vernova T&D India Ltd                              | GE Vernova T&D India Ltd                                | CUSIP: 000000000<br>LEI: 549300NMRD6VZDFLN355 | Long             | EC               | CORP              | IN        |      2685 | NS      | $83579.48     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Weichai Power Co Ltd                                  | Weichai Power Co Ltd                                    | CUSIP: 000000000<br>LEI: 529900OKTPKBG85F9502 | Long             | EC               | CORP              | CN        |     41800 | NS      | $87528.46     | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Paradeep Phosphates Ltd                               | Paradeep Phosphates Ltd                                 | CUSIP: 000000000<br>LEI: 335800FQJ3X6Y6V2YG94 | Long             | EC               | CORP              | IN        |     24127 | NS      | $58939.75     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Accton Technology Corp                                | Accton Technology Corp                                  | CUSIP: 000000000<br>LEI: 529900M1YRZ0GWMDF920 | Long             | EC               | CORP              | TW        |      5000 | NS      | $147670.94    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortis Healthcare Ltd                                 | Fortis Healthcare Ltd                                   | CUSIP: 000000000<br>LEI: 3358001Q5ZJC4M83WH02 | Long             | EC               | CORP              | IN        |     11233 | NS      | $109384.11    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Steel Authority of India Ltd                          | Steel Authority of India Ltd                            | CUSIP: 000000000<br>LEI: 335800ZJXMF183ZCQI90 | Long             | EC               | CORP              | IN        |    119200 | NS      | $168324.23    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| DLF Ltd                                               | DLF Ltd                                                 | CUSIP: 000000000<br>LEI: 335800PJLUEOB8914F48 | Long             | EC               | CORP              | IN        |      1631 | NS      | $14505.57     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Realtek Semiconductor Corp                            | Realtek Semiconductor Corp                              | CUSIP: 000000000<br>LEI: 5299002E7F36O00MYY75 | Long             | EC               | CORP              | TW        |      5000 | NS      | $95604.31     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| BOE Technology Group Co Ltd                           | BOE Technology Group Co Ltd                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    309800 | NS      | $173300.21    | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd                             | Alibaba Group Holding Ltd                               | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    111020 | NS      | $1669159.65   | 3.40%             |  |  |  | No            |                  2 | On Loan: No      |
| NCC Ltd/India                                         | NCC Ltd/India                                           | CUSIP: 000000000<br>LEI: 3358004NHG46U9TEGO83 | Long             | EC               | CORP              | IN        |     13367 | NS      | $33040.11     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc                                          | SK Hynix Inc                                            | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |      1528 | NS      | $296150.56    | 0.60%             |  |  |  | No            |                  2 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands                        | NU Holdings Ltd/Cayman Islands                          | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |      7796 | NS      | $95267.12     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Tata Steel Ltd                                        | Tata Steel Ltd                                          | CUSIP: 000000000<br>LEI: 335800E6C75YGSGD5T66 | Long             | EC               | CORP              | IN        |      6175 | NS      | $11089.25     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Advantech Co Ltd                                      | Advantech Co Ltd                                        | CUSIP: 000000000<br>LEI: 2549002OSTKE9HB9IY03 | Long             | EC               | CORP              | TW        |      2000 | NS      | $22247.68     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Indian Hotels Co Ltd/The                              | Indian Hotels Co Ltd/The                                | CUSIP: 000000000<br>LEI: 33580076CH5SBY5HWA22 | Long             | EC               | CORP              | IN        |      1716 | NS      | $14433.39     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Chow Tai Fook Jewellery Group Ltd                     | Chow Tai Fook Jewellery Grou                            | CUSIP: 000000000<br>LEI: 254900VXRL7SRSF44G79 | Long             | EC               | CORP              | KY        |     15400 | NS      | $25719.40     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Al Rajhi Bank                                         | Al Rajhi Bank                                           | CUSIP: 000000000<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |     22025 | NS      | $555339.86    | 1.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Korea Electric Power Corp                             | Korea Electric Power Corp                               | CUSIP: 000000000<br>LEI: 988400QG33WS7JEIV602 | Long             | EC               | CORP              | KR        |      1267 | NS      | $34996.88     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| SBI Life Insurance Co Ltd                             | SBI Life Insurance Co Ltd                               | CUSIP: 000000000<br>LEI: 335800WMVIESQUO95586 | Long             | EC               | CORP              | IN        |      1154 | NS      | $24142.21     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd             | Taiwan Semiconductor Manufacturing Co Ltd               | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |    134000 | NS      | $5158899.84   | 10.50%            |  |  |  | No            |                  2 | On Loan: No      |
| Petronet LNG Ltd                                      | Petronet LNG Ltd                                        | CUSIP: 000000000<br>LEI: 335800KIIKNA7GRD9351 | Long             | EC               | CORP              | IN        |     16297 | NS      | $53428.90     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| UltraTech Cement Ltd                                  | UltraTech Cement Ltd                                    | CUSIP: 000000000<br>LEI: 335800PC9O9B4BQHG814 | Long             | EC               | CORP              | IN        |       371 | NS      | $51655.75     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Saudi National Bank/The                               | Saudi National Bank/The                                 | CUSIP: 000000000<br>LEI: 5586006ZEFQ542K7CY16 | Long             | EC               | CORP              | SA        |     59148 | NS      | $590243.38    | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Asseco Poland SA                                      | Asseco Poland SA                                        | CUSIP: 000000000<br>LEI: 259400O79EWIK4XZPL40 | Long             | EC               | CORP              | PL        |       282 | NS      | $15213.96     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| L&K Engineering Co Ltd                                | L&K Engineering Co Ltd                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |      5000 | NS      | $53834.41     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd                                        | ICICI Bank Ltd                                          | CUSIP: 000000000<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |     27538 | NS      | $463720.47    | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| ICICI Bank Ltd                                        | ICICI Bank Ltd                                          | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |      1485 | NS      | $50044.50     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Indian Oil Corp Ltd                                   | Indian Oil Corp Ltd                                     | CUSIP: 000000000<br>LEI: 335800J8OBWE4VFUDG88 | Long             | EC               | CORP              | IN        |     10916 | NS      | $18033.61     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Solar Industries India Ltd                            | Solar Industries India Ltd                              | CUSIP: 000000000<br>LEI: 3358002ANWRT2YJ79L60 | Long             | EC               | CORP              | IN        |       242 | NS      | $39109.43     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Agricultural Bank of China Ltd                        | Agricultural Bank of China Ltd                          | CUSIP: 000000000<br>LEI: 549300E7TSGLCOVSY746 | Long             | EC               | CORP              | CN        |    102000 | NS      | $66821.84     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| GlaxoSmithKline Pharmaceuticals Ltd                   | GlaxoSmithKline Pharmaceuticals Ltd                     | CUSIP: 000000000<br>LEI: 3358002TNSC1U2DWNY52 | Long             | EC               | CORP              | IN        |       465 | NS      | $16704.48     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Bajaj Finance Ltd                                     | Bajaj Finance Ltd                                       | CUSIP: 000000000<br>LEI: 335800YTEXC3DO4Z6F68 | Long             | EC               | CORP              | IN        |      8562 | NS      | $85683.07     | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Primax Electronics Ltd                                | Primax Electronics Ltd                                  | CUSIP: 000000000<br>LEI: 254900JO4CQFFG7AIQ15 | Long             | EC               | CORP              | TW        |    123000 | NS      | $298103.89    | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Bizlink Holding Inc                                   | Bizlink Holding Inc                                     | CUSIP: 000000000<br>LEI: 213800YAKRFVU5XOX138 | Long             | EC               | CORP              | KY        |      4039 | NS      | $121479.62    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Hon Hai Precision Industry Co Ltd                     | Hon Hai Precision Industry Co Ltd                       | CUSIP: 000000000<br>LEI: 30030004CM3GSZXX7O56 | Long             | EC               | CORP              | TW        |      3000 | NS      | $17641.44     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Tencent Holdings Ltd                                  | Tencent Holdings Ltd                                    | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |     40100 | NS      | $2807489.12   | 5.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Power & Water Utility Co for Jubail & Yanbu           | Power & Water Utility Co for Jubail & Yanbu             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |     18035 | NS      | $192532.77    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Phison Electronics Corp                               | Phison Electronics Corp                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     25000 | NS      | $438869.21    | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Innovent Biologics Inc                                | Innovent Biologics Inc                                  | CUSIP: 000000000<br>LEI: 25490058ONL9SCIE1R22 | Long             | EC               | CORP              | KY        |      8500 | NS      | $105213.84    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| International Container Terminal Services Inc         | International Container Terminal Services Inc           | CUSIP: 000000000<br>LEI: 254900FU1MWK0I0Q4J61 | Long             | EC               | CORP              | PH        |     21030 | NS      | $161477.01    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Banque Saudi Fransi                                   | Banque Saudi Fransi                                     | CUSIP: 000000000<br>LEI: 558600N07EDF4ATYR106 | Long             | EC               | CORP              | SA        |      7127 | NS      | $32561.30     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| E-MART Inc                                            | E-MART Inc                                              | CUSIP: 000000000<br>LEI: 988400SAX0Q74FRA9981 | Long             | EC               | CORP              | KR        |       562 | NS      | $36035.59     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Ping An Insurance Group Co of China Ltd               | Ping An Insurance Group Co of China Ltd                 | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |     38500 | NS      | $312778.45    | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| CSC Financial Co Ltd                                  | CSC Financial Co Ltd                                    | CUSIP: 000000000<br>LEI: 3003006CDEBNKXHOI130 | Long             | EC               | CORP              | CN        |      2400 | NS      | $8492.11      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Hindustan Zinc Ltd                                    | Hindustan Zinc Ltd                                      | CUSIP: 000000000<br>LEI: 335800LB39TLJ8YTWM98 | Long             | EC               | CORP              | IN        |      9443 | NS      | $45463.35     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Hyundai Elevator Co Ltd                               | Hyundai Elevator Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |      2566 | NS      | $156618.38    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| One 97 Communications Ltd                             | One 97 Communications Ltd                               | CUSIP: 000000000<br>LEI: 335800ZRHU5J6GSTMI23 | Long             | EC               | CORP              | IN        |      3055 | NS      | $37753.03     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Great Eastern Shipping Co Ltd/The                     | Great Eastern Shipping Co Ltd/The                       | CUSIP: 000000000<br>LEI: 335800GJP7MSMX3Z3727 | Long             | EC               | CORP              | IN        |      3007 | NS      | $32083.70     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Lemon Tree Hotels Ltd                                 | Lemon Tree Hotels Ltd                                   | CUSIP: 000000000<br>LEI: 335800QFBWIUBBCRJN72 | Long             | EC               | CORP              | IN        |     18665 | NS      | $31740.05     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Meituan                                               | Meituan                                                 | CUSIP: 000000000<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | KY        |     43580 | NS      | $672332.15    | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| King Yuan Electronics Co Ltd                          | King Yuan Electronics Co Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TW        |     87000 | NS      | $340315.28    | 0.69%             |  |  |  | No            |                  2 | On Loan: No      |
| SRF Ltd                                               | SRF Ltd                                                 | CUSIP: 000000000<br>LEI: 335800436F28GT8ZW506 | Long             | EC               | CORP              | IN        |       480 | NS      | $16606.75     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| NBCC India Ltd                                        | NBCC India Ltd                                          | CUSIP: 000000000<br>LEI: 3358007GX3F7PDUPVI11 | Long             | EC               | CORP              | IN        |     20059 | NS      | $24573.87     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD Co Ltd                                            | BYD Co Ltd                                              | CUSIP: 000000000<br>LEI: 5299005557VL7ULJ7A69 | Long             | EC               | CORP              | CN        |     27000 | NS      | $394222.92    | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| KPJ Healthcare Bhd                                    | KPJ Healthcare Bhd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | MY        |     60000 | NS      | $36364.91     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| China Resources Land Ltd                              | China Resources Land Ltd                                | CUSIP: 000000000<br>LEI: 5299001HL0TU7X15HK51 | Long             | EC               | CORP              | KY        |     26000 | NS      | $95341.15     | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| China Construction Bank Corp                          | China Construction Bank Corp                            | CUSIP: 000000000<br>LEI: 5493001KQW6DM7KEDR62 | Long             | EC               | CORP              | CN        |    493000 | NS      | $504241.97    | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Powszechna Kasa Oszczednosci Bank Polski SA           | Powszechna Kasa Oszczednosci Bank Polski SA             | CUSIP: 000000000<br>LEI: P4GTT6GF1W40CVIMFR43 | Long             | EC               | CORP              | PL        |     16053 | NS      | $351504.49    | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| L&T Finance Ltd                                       | L&T Finance Ltd                                         | CUSIP: 000000000<br>LEI: 335800XGURT7JWGYNB41 | Long             | EC               | CORP              | IN        |      6133 | NS      | $14108.68     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-29

**Name of Applicant:** BlackRock Funds

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer