# EDGAR Filing Document

**Accession Number:** 0000893818
**File Stem:** 0001752724-25-204415
**Filing Date:** 2025-8
**Character Count:** 17342
**Document Hash:** 3efb054ef816340e40ee938bbc849adf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-204415.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-204415

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Funds III
- **CENTRAL INDEX KEY:** 0000893818

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07332
- **FILM NUMBER:** 251254560

**BUSINESS ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** 8006439691

**MAIL ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BARCLAYS GLOBAL INVESTORS FUNDS
- **DATE OF NAME CHANGE:** 20060201

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BARCLAYS GLOBAL INVESTORS FUNDS INC
- **DATE OF NAME CHANGE:** 19990804

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MASTERWORKS FUNDS INC
- **DATE OF NAME CHANGE:** 19960607

## Series and Classes Contracts Data

### BlackRock LifePath Dynamic 2040 Fund (Series ID: S000004279)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000011999 | Investor A Shares    | LPREX           |
| C000012000 | Institutional Shares | STLEX           |
| C000051482 | Class K              | LPSFX           |
| C000082488 | Class R Shares       | LPRKX           |
| C000088838 | Investor C Shares    | LPCKX           |

## 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 III

- **b. Investment Company Act file number:** 811-07332

- **c. CIK number of Registrant:** 0000893818

- **d. LEI of Registrant:** 5493008LW2651I1QB503

- **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 LifePath Dynamic 2040 Fund

- **b. EDGAR series identifier (if any):** S000004279

- **c. LEI of Series:** 549300ED05QKQ196MC77

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $577547364.08

**Total Liabilities:** $83359767.92

**Net Assets:** $494187596.16

**Cash Not Reported:** $5556805.37

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000082488 | 0.48%                | 4.26%                | 3.57%                |
| Class ID C000011999 | 0.49%                | 4.31%                | 3.53%                |
| Class ID C000012000 | 0.47%                | 4.33%                | 3.59%                |
| Class ID C000051482 | 0.52%                | 4.34%                | 3.60%                |
| Class ID C000088838 | 0.37%                | 4.27%                | 3.45%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1313161.26              | $-417887.62                                |
| Month 2  | $-1105898.50             | $16538951.31                               |
| Month 3  | $5005.50                 | $14887657.68                               |

**Designated Index Information**

- **Index Name:** LifePath Dynamic Custom Benchmark - 2040

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES                     | BlackRock Cash Funds: Treasury, SL Agency Shares      | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |  35440602 | NS      | $35440601.89  | 7.17%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Broad USD Investment Grade Corporate Bond ETF              | iShares Broad USD Investment Grade Corporate Bond ETF | CUSIP: 464288620<br>LEI: 5493004QFMCNV0WLX398 | Long             | EC               | RF                | US        |    411019 | NS      | $21142817.36  | 4.28%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Global Infrastructure ETF                                  | iShares Global Infrastructure ETF                     | CUSIP: 464288372<br>LEI: 549300ZC2N3HUK3DTK30 | Long             | EC               | RF                | US        |    150921 | NS      | $8934523.20   | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                                        | SP500 MIC EMIN FUTSEP25                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       669 | NC      | $506667.18    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| BlackRock Tactical Opportunities Fund                              | BlackRock Tactical Opportunities Fund                 | CUSIP: 09258N570<br>LEI: 6FFMMI3AGWZH5SDXSF05 | Long             | EC               | RF                | US        |   1481948 | NS      | $22896098.76  | 4.63%             |  |  |  | No            | 1                  | On Loan: No      |
| BlackRock Diversified Fixed Income Fund                            | BlackRock Diversified Fixed Income Fund               | CUSIP: 09260W584<br>LEI: 549300SEQK2DPV0R7O94 | Long             | EC               | RF                | US        |   7703625 | NS      | $72953327.07  | 14.76%            |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                             | PURCHASED CAD / SOLD USD                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | CA        |         1 | NC      | $50618.24     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                                  | PURCHASED JPY / SOLD USD                              | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | JP        |         1 | NC      | $-70851.69    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Mercantile Exchange                                        | S+P500 EMINI FUT SEP25                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |        32 | NC      | $242335.20    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares MSCI EAFE Small-Cap ETF                                    | iShares MSCI EAFE Small-Cap ETF                       | CUSIP: 464288273<br>LEI: 549300MJV5OZGVS4LX86 | Long             | EC               | RF                | US        |    158773 | NS      | $11539621.64  | 2.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                                        | NASDAQ 100 E-MINI SEP25                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |       -32 | NC      | $-475404.86   | -0.10%            |  |  |  | No            | 1                  | On Loan: No      |
| BlackRock Funds III                                                | BlackRock Cash Funds: Institutional, SL Agency Shares | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |  41089674 | NS      | $41106109.51  | 8.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                                  | PURCHASED USD / SOLD JPY                              | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |         1 | NC      | $571.27       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| iShares iBoxx $ Investment Grade Corporate Bond ETF                | iShares iBoxx $ Investment Grade Corporate Bond ETF   | CUSIP: 464287242<br>LEI: 549300FYCXFXG8POR355 | Long             | EC               | RF                | US        |       153 | NS      | $16770.33     | 0.00%             |  |  |  | No            | 1                  | On Loan: —       |
| ICE Futures U.S., Inc.                                             | MSCI EMGMKT SEP25                                     | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               |  | US        |         3 | NC      | $5157.39      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| ICE Futures U.S., Inc.                                             | MSCI EAFE SEP25                                       | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DE               |  | US        |        46 | NC      | $88186.13     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan Chase Bank NA                                             | PURCHASED CAD / SOLD USD                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | CA        |         1 | NC      | $61978.33     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| JPMorgan Chase Bank NA                                             | PURCHASED JPY / SOLD EUR                              | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | JP        |         1 | NC      | $-676581.94   | -0.14%            |  |  |  | No            | 2                  | On Loan: No      |
| MASTER INVESTMENT PORTFOLIO - International Tilts Master Portfolio | International Tilts Master Portfolio                  | CUSIP: 000000000<br>LEI: 5493004HUP3600ZFJ783 | Long             | EC               | RF                | US        |   3308306 | NS      | $71371733.99  | 14.44%            |  |  |  | No            | N/A                | On Loan: No      |
| Morgan Stanley & Co. International PLC                             | PURCHASED AUD / SOLD USD                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | AU        |         1 | NC      | $159373.95    | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                             | US 10YR NOTE (CBT)SEP25                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       112 | NC      | $251422.41    | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| BlackRock Real Estate Securities Fund                              | BlackRock Real Estate Securities Fund                 | CUSIP: 091936583<br>LEI: 549300619RPPBQL8JR35 | Long             | EC               | RF                | US        |    965877 | NS      | $14517131.28  | 2.94%             |  |  |  | No            | 1                  | On Loan: No      |
| The Montreal Exchange / Bourse De Montreal                         | S+P/TSX 60 IX FUT SEP25                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | CA        |        34 | NC      | $66992.97     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. International PLC                             | PURCHASED JPY / SOLD USD                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | JP        |         1 | NC      | $2203.00      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| Osaka Exchange                                                     | TOPIX INDX FUTR SEP25                                 | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               |  | JP        |        50 | NC      | $212604.29    | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| Chicago Board of Trade                                             | US ULTRA BOND CBT SEP25                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |      -302 | NC      | $-1640330.90  | -0.33%            |  |  |  | No            | 1                  | On Loan: No      |
| Morgan Stanley & Co. International PLC                             | PURCHASED JPY / SOLD EUR                              | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | JP        |         1 | NC      | $-33105.23    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| iShares Core MSCI Emerging Markets ETF                             | iShares Core MSCI Emerging Markets ETF                | CUSIP: 46434G103<br>LEI: 5493007C24Z3ZDJ0VD06 | Long             | EC               | RF                | US        |    635262 | NS      | $38134777.86  | 7.72%             |  |  |  | No            | 1                  | On Loan: —       |
| DIVERSIFIED EQUITY MASTER                                          | DIVERSIFIED EQUITY MASTER MUTUAL FUNDS                | CUSIP: 999113103<br>LEI: N/A                  | Long             | EC               | RF                | US        |   2410000 | NS      | $188431127.21 | 38.13%            |  |  |  | No            | N/A                | On Loan: No      |
| iShares MSCI Canada ETF                                            | iShares MSCI Canada ETF                               | CUSIP: 464286509<br>LEI: 549300DXCD53F4JK3H45 | Long             | EC               | RF                | US        |     47257 | NS      | $2183273.40   | 0.44%             |  |  |  | No            | 1                  | On Loan: —       |
| Chicago Board of Trade                                             | US LONG BOND(CBT) SEP25                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        72 | NC      | $352590.48    | 0.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Chicago Mercantile Exchange                                        | E-MINI RUSS 2000 SEP25                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               |  | US        |        84 | NC      | $140936.02    | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Barclays Bank PLC                                                  | PURCHASED EUR / SOLD USD                              | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | XX        |         1 | NC      | $283013.20    | 0.06%             |  |  |  | No            | 2                  | On Loan: No      |
| Barclays Bank PLC                                                  | PURCHASED USD / SOLD EUR                              | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |         1 | NC      | $-1408.29     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| iShares 0-5 Year TIPS Bond ETF                                     | iShares 0-5 Year TIPS Bond ETF                        | CUSIP: 46429B747<br>LEI: 549300GIWSEGOQLZR212 | Long             | EC               | RF                | US        |     12450 | NS      | $1281229.50   | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2025-07-31

**Name of Applicant:** BlackRock Funds III

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer