# EDGAR Filing Document

**Accession Number:** 0000893818
**File Stem:** 0001193125-23-047995
**Filing Date:** 2023-2
**Character Count:** 7477
**Document Hash:** b10904082aa57ddf668ba204b2d6851a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-047995.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001193125-23-047995

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**EFFECTIVENESS DATE**: 20230224

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock Funds III
- **CENTRAL INDEX KEY:** 0000893818
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-54126
- **FILM NUMBER:** 23663431

**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

### iShares Russell 1000 Large-Cap Index Fund (Series ID: S000031723)

---

|  |  |
|:---|:---|
| Class Name           | Class ID   |
| Investor A Shares    | C000098723 |
| Institutional Shares | C000098724 |
| Class K shares       | C000098725 |

---

### iShares MSCI Total International Index Fund (Series ID: S000033188)

---

|  |  |
|:---|:---|
| Class Name           | Class ID   |
| Investor A Shares    | C000102140 |
| Institutional Shares | C000102141 |
| Class K shares       | C000102142 |

---

## Series and Classes Contracts Data

### iShares Russell 1000 Large-Cap Index Fund (Series ID: S000031723)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000098723 | Investor A Shares    |  |
| C000098724 | Institutional Shares |  |
| C000098725 | Class K shares       |  |

### iShares MSCI Total International Index Fund (Series ID: S000033188)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000102140 | Investor A Shares    |  |
| C000102141 | Institutional Shares |  |
| C000102142 | Class K shares       |  |

**BLACKROCK FUNDS III** 

iShares MSCI Total International Index Fund

iShares Russell 1000 Large-Cap Index Fund

(each, a "Fund" and together, the "Funds")

**Supplement dated February 24, 2023 to the Statement of Additional Information ("SAI") of the Funds, dated April 29, 2022** 

**Effective February 8, 2023, the following changes are made to the Funds' SAI:** 

**The section entitled "Management, Advisory and Other Service Arrangements — Information Regarding the Portfolio Managers" is revised as follows:** 

**The first paragraph is deleted in its entirety and replaced with the following:** 

Paul Whitehead, Suzanne Henige, CFA, and Jennifer Hsui, CFA are the portfolio managers of the Master Portfolios and are jointly and primarily responsible for the day-to-day management of each Master Portfolio. On or about April 14, 2023, Suzanne Henige will no longer serve as a portfolio manager of each Master Portfolio.

**The sub-section entitled "Other Funds and Accounts Managed — Total International ex U.S. Index Master Portfolio" is deleted in its entirety and replaced with the following:** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Number of Other Accounts Managed<br>and Assets by Account Type** | **Number of Other Accounts Managed<br>and Assets by Account Type** | **Number of Other Accounts Managed<br>and Assets by Account Type** | **Number of Other Accounts and Assets<br>for Which Advisory Fee is<br>Performance-Based** | **Number of Other Accounts and Assets<br>for Which Advisory Fee is<br>Performance-Based** | **Number of Other Accounts and Assets<br>for Which Advisory Fee is<br>Performance-Based** |
| <br>**Name of Portfolio<br>Manager** | **Other**<br> **Registered**<br> **Investment**<br> **Companies** | **Other<br>Pooled**<br> **Investment**<br> **Vehicles** | **Other**<br> **Accounts** | **Other**<br> **Registered**<br> **Investment**<br> **Companies** | **Other<br>Pooled**<br> **Investment**<br> **Vehicles** | **Other**<br> **Accounts** |
| Suzanne Henige, CFA\* | 73<br>$201.80 Billion | 6<br>$5.13 Billion | 0<br> $0 | 0<br> $0 | 0<br> $0 | 0<br> $0 |
| Jennifer Hsui, CFA | 329<br> $2.12 Trillion | 58<br> $85.23 Billion | 44<br> $41.79 Billion | 0<br> $0 | 0<br> $0 | 0<br> $0 |
| Paul Whitehead | 0<br> $0 | 0<br> $0 | 0<br> $0 | 0<br> $0 | 0<br> $0 | 0<br> $0 |

---

\* On or about April 14, 2023, Suzanne Henige will no longer serve as a portfolio manager of the Master Portfolio.

**The sub-section entitled "Other Funds and Accounts Managed — Large Cap Index Master Portfolio" is deleted in its entirety and replaced with the following:** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Number of Other Accounts Managed<br>and Assets by Account Type** | **Number of Other Accounts Managed<br>and Assets by Account Type** | **Number of Other Accounts Managed<br>and Assets by Account Type** | **Number of Other Accounts and Assets<br>for Which Advisory Fee is<br>Performance-Based** | **Number of Other Accounts and Assets<br>for Which Advisory Fee is<br>Performance-Based** | **Number of Other Accounts and Assets<br>for Which Advisory Fee is<br>Performance-Based** |
| <br>**Name of Portfolio<br>Manager** | **Other**<br> **Registered**<br> **Investment**<br> **Companies** | **Other<br>Pooled**<br> **Investment**<br> **Vehicles** | **Other**<br> **Accounts** | **Other**<br> **Registered**<br> **Investment**<br> **Companies** | **Other<br>Pooled**<br> **Investment**<br> **Vehicles** | **Other**<br> **Accounts** |
| Suzanne Henige, CFA\* | 73<br>$178.54 Billion | 6<br>$5.13 Billion | 0<br> $0 | 0<br> $0 | 0<br> $0 | 0<br> $0 |
| Jennifer Hsui, CFA | 329<br> $2.10 Trillion | 58<br> $85.23 Billion | 44<br> $41.79 Billion | 0<br> $0 | 0<br> $0 | 0<br> $0 |
| Paul Whitehead | 0<br> $0 | 0<br> $0 | 0<br> $0 | 0<br> $0 | 0<br> $0 | 0<br> $0 |

---

\* On or about April 14, 2023, Suzanne Henige will no longer serve as a portfolio manager of the Master Portfolio.

------

**The last sentence of the sub-section entitled "Discretionary Incentive Compensation" is deleted in its entirety and replaced with the following:** 

The performance of each of Mr. Whitehead and Mses. Henige and Hsui is not measured against a specific benchmark.

**The sub-section entitled "Share Ownership" is deleted in its entirety and replaced with the following:** 

As of December 31, 2021, the listed portfolio managers of each Master Portfolio beneficially owned shares of the Funds in amounts reflected in the following table:

---

| | | |
|:---|:---|:---|
| **Portfolio Manager** | **Portfolio Managed** | **Dollar Range of Equity Securities<br>Beneficially Owned** |
| Paul Whitehead | Total International Index Fund<br> Large-Cap Index Fund |  |
| Suzanne Henige, CFA\* | Total International Index Fund<br> Large-Cap Index Fund |  |
| Jennifer Hsui, CFA | Total International Index Fund<br> Large-Cap Index Fund |  |

---

\* On or about April 14, 2023, Suzanne Henige will no longer serve as a portfolio manager of each Master Portfolio.

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

SAI-LCI-TI-0223SUP