# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001752724-23-009973
**Filing Date:** 2023-1
**Character Count:** 16701
**Document Hash:** 67d555a894aae3236d2233a8d9203cf4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-009973.hdr.sgml**: 20230124

**ACCESSION NUMBER**: 0001752724-23-009973

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230124

**DATE AS OF CHANGE**: 20230124

**PERIOD START**: 20230531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK FUNDS
- **CENTRAL INDEX KEY:** 0000844779
- **IRS NUMBER:** 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:** 23548940

**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 Infrastructure Sustainable Opportunities Fund (Series ID: S000073490)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000230441 | Investor A    |  |
| C000230442 | Institutional |  |
| C000230443 | Class K       |  |

## 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 Infrastructure Sustainable Opportunities Fund

- **b. EDGAR series identifier (if any):** S000073490

- **c. LEI of Series:** 549300MLDVQ0HAKPS503

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

- **a. Date of fiscal year-end:** 2023-05-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $8998986.42

**Total Liabilities:** $190701.78

**Net Assets:** $8808284.64

**Cash Not Reported:** $131258.64

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000230443 | -12.63%              | 2.45%                | 10.58%               |
| Class ID C000230442 | -12.74%              | 2.58%                | 10.58%               |
| Class ID C000230441 | -12.64%              | 2.46%                | 10.59%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-66170.76               | $-1055318.88                               |
| Month 2  | $-256495.38              | $452959.18                                 |
| Month 3  | $-150459.62              | $970387.51                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Xcel Energy Inc                  | Xcel Energy Inc                                 | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |      1194 | NS      | $83842.68     | 0.95%             |  |  |  | No            | 1                  | On Loan: No      |
| Cellnex Telecom SA               | Cellnex Telecom SA                              | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |     14802 | NS      | $509019.27    | 5.78%             |  |  |  | No            | 2                  | On Loan: No      |
| Severn Trent PLC                 | Severn Trent PLC                                | CUSIP: 000000000<br>LEI: 213800RPBXRETY4A4C59 | Long             | EC               | CORP              | GB        |     12857 | NS      | $423152.70    | 4.80%             |  |  |  | No            | 2                  | On Loan: No      |
| Infrastrutture Wireless Italia   | Infrastrutture Wireless Italiane SpA            | CUSIP: 000000000<br>LEI: 81560066183FE361C071 | Long             | EC               | CORP              | IT        |     13418 | NS      | $133828.10    | 1.52%             |  |  |  | No            | 2                  | On Loan: No      |
| Transurban Group                 | Transurban Group                                | CUSIP: 000000000<br>LEI: 549300ZR71SUQ4VUTM79 | Long             | EC               | CORP              | AU        |     19705 | NS      | $192648.97    | 2.19%             |  |  |  | No            | 2                  | On Loan: No      |
| Public Service Enterprise Grou   | Public Service Enterprise Group Inc             | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |      6458 | NS      | $391031.90    | 4.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Equinix Inc                      | Equinix Inc                                     | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |       274 | NS      | $189238.10    | 2.15%             |  |  |  | No            | 1                  | On Loan: No      |
| NextEra Energy Inc               | NextEra Energy Inc                              | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       974 | NS      | $82497.80     | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| CSX Corp                         | CSX Corp                                        | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |      6658 | NS      | $217650.02    | 2.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Physicians Realty Trust          | Physicians Realty Trust                         | CUSIP: 71943U104<br>LEI: 549300ITOVH0OY7PZC34 | Long             | EC               | CORP              | US        |      8848 | NS      | $132100.64    | 1.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Hydro One Ltd                    | Hydro One Ltd                                   | CUSIP: 448811208<br>LEI: 5493007QZDXTP1W2VL44 | Long             | EC               | CORP              | CA        |      5334 | NS      | $149176.73    | 1.69%             |  |  |  | No            | 1                  | On Loan: No      |
| CLP Holdings Ltd                 | CLP Holdings Ltd                                | CUSIP: 000000000<br>LEI: 25490002BUTSMP94GO68 | Long             | EC               | CORP              | HK        |     35500 | NS      | $257603.66    | 2.92%             |  |  |  | No            | 2                  | On Loan: No      |
| EDP - Energias de Portugal SA    | EDP - Energias de Portugal SA                   | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | EC               | CORP              | PT        |     55573 | NS      | $263696.41    | 2.99%             |  |  |  | No            | 2                  | On Loan: No      |
| MONEY MARKET SERIES LLC          | MONEY MARKET SERIES LLC                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |     17252 | NS      | $17245.05     | 0.20%             |  |  |  | No            | N/A                | On Loan: No      |
| Aedifica SA                      | Aedifica SA                                     | CUSIP: 000000000<br>LEI: 529900DTKNXL0AXQFN28 | Long             | EC               | CORP              | BE        |      1018 | NS      | $80221.23     | 0.91%             |  |  |  | No            | 2                  | On Loan: No      |
| Archaea Energy Inc               | Archaea Energy Inc                              | CUSIP: 03940F103<br>LEI: 549300ZBE567NNMH7V89 | Long             | EC               | CORP              | US        |      4960 | NS      | $128662.40    | 1.46%             |  |  |  | No            | 1                  | On Loan: No      |
| American Tower Corp              | American Tower Corp                             | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      1410 | NS      | $311962.50    | 3.54%             |  |  |  | No            | 1                  | On Loan: No      |
| National Grid PLC                | National Grid PLC                               | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |     25014 | NS      | $307699.16    | 3.49%             |  |  |  | No            | 2                  | On Loan: No      |
| Smart Metering Systems PLC       | Smart Metering Systems PLC                      | CUSIP: 000000000<br>LEI: 213800FGOUFSDPE33S71 | Long             | EC               | CORP              | GB        |     34778 | NS      | $335748.64    | 3.81%             |  |  |  | No            | 1                  | On Loan: No      |
| Hamburger Hafen und Logistik A   | Hamburger Hafen und Logistik AG                 | CUSIP: 000000000<br>LEI: 52990003RXKZ9J9ERW70 | Long             | EC               | CORP              | DE        |      6538 | NS      | $79305.09     | 0.90%             |  |  |  | No            | 2                  | On Loan: No      |
| Terna - Rete Elettrica Naziona   | Terna - Rete Elettrica Nazionale                | CUSIP: 000000000<br>LEI: 8156009E94ED54DE7C31 | Long             | EC               | CORP              | IT        |     50884 | NS      | $389768.64    | 4.43%             |  |  |  | No            | 2                  | On Loan: No      |
| Consolidated Edison Inc          | Consolidated Edison Inc                         | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |       888 | NS      | $87059.52     | 0.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Exelon Corp                      | Exelon Corp                                     | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |      5567 | NS      | $230306.79    | 2.61%             |  |  |  | No            | 1                  | On Loan: No      |
| BlackRock Liquidity Funds T-Fund | BlackRock Liquidity Funds T-Fund                | CUSIP: 09248U718<br>LEI: 5493002L9DNZ83RX7V61 | Long             | STIV             | RF                | US        |    585753 | NS      | $585752.56    | 6.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Constellation Energy Corp        | Constellation Energy Corp                       | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |      1784 | NS      | $171478.08    | 1.95%             |  |  |  | No            | 1                  | On Loan: No      |
| SBA Communications Corp          | SBA Communications Corp                         | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      1368 | NS      | $409442.40    | 4.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Fraport AG Frankfurt Airport S   | Fraport AG Frankfurt Airport Services Worldwide | CUSIP: 000000000<br>LEI: 5299001ERX0K10IZUL40 | Long             | EC               | CORP              | DE        |      8262 | NS      | $361586.03    | 4.11%             |  |  |  | No            | 2                  | On Loan: No      |
| Enel SpA                         | Enel SpA                                        | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |     83846 | NS      | $452331.20    | 5.14%             |  |  |  | No            | 2                  | On Loan: No      |
| Alexandria Real Estate Equitie   | Alexandria Real Estate Equities Inc             | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |      1639 | NS      | $255044.79    | 2.90%             |  |  |  | No            | 1                  | On Loan: No      |
| GOLDMAN SACHS BANK USA           | TRS CFD EQUITY BASKET                           | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DE               | CORP              | US        |         1 | NC      | $4620.45      | 0.05%             |  |  |  | No            | 2                  | On Loan: No      |
| Canadian Pacific Railway Ltd     | Canadian Pacific Railway Ltd                    | CUSIP: 13645T100<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |      1132 | NS      | $92679.00     | 1.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Flughafen Zurich AG              | Flughafen Zurich AG                             | CUSIP: 000000000<br>LEI: 529900PFO97GCN5SYB55 | Long             | EC               | CORP              | CH        |      1268 | NS      | $210835.69    | 2.39%             |  |  |  | No            | 2                  | On Loan: No      |
| West Japan Railway Co            | West Japan Railway Co                           | CUSIP: 000000000<br>LEI: 353800QGUXHZ7EBCR121 | Long             | EC               | CORP              | JP        |      2000 | NS      | $85199.35     | 0.97%             |  |  |  | No            | 2                  | On Loan: No      |
| Aena SME SA                      | Aena SME SA                                     | CUSIP: 000000000<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |      1420 | NS      | $183227.59    | 2.08%             |  |  |  | No            | 2                  | On Loan: No      |
| IHS Holding Ltd                  | IHS Holding Ltd                                 | CUSIP: 000000000<br>LEI: 213800CLGMKL63VKTD94 | Long             | EC               | CORP              | GB        |     12275 | NS      | $88625.50     | 1.01%             |  |  |  | No            | 1                  | On Loan: —       |
| REN - Redes Energeticas Nacion   | REN - Redes Energeticas Nacionais SGPS SA       | CUSIP: 000000000<br>LEI: 549300FR1FN48IGHR915 | Long             | EC               | CORP              | PT        |     32541 | NS      | $86176.57     | 0.98%             |  |  |  | No            | 2                  | On Loan: No      |
| Eversource Energy                | Eversource Energy                               | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |      3521 | NS      | $291750.06    | 3.31%             |  |  |  | No            | 1                  | On Loan: No      |
| NEXTDC Ltd                       | NEXTDC Ltd                                      | CUSIP: 000000000<br>LEI: 529900RTERU3X7G3D672 | Long             | EC               | CORP              | AU        |     57086 | NS      | $391675.52    | 4.45%             |  |  |  | No            | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2023-01-24

**Name of Applicant:** BlackRock Funds

**Signature:** Ann Frechette

**Name of Signer:** Ann Frechette

**Title:** Assistant Treasurer