# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001193125-23-081426
**Filing Date:** 2023-3
**Character Count:** 4972
**Document Hash:** fecb3a8833d8bf569353081e302f4602
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-081426.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001193125-23-081426

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**EFFECTIVENESS DATE**: 20230328

**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:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-26305
- **FILM NUMBER:** 23766234

**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 SMID-Cap Growth Equity Fund (Series ID: S000072352)

---

|  |  |
|:---|:---|
| Class Name    | Class ID   |
| Class K       | C000228503 |
| Investor A    | C000228504 |
| Institutional | C000228505 |

---

## Series and Classes Contracts Data

### BlackRock SMID-Cap Growth Equity Fund (Series ID: S000072352)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000228503 | Class K       |  |
| C000228504 | Investor A    |  |
| C000228505 | Institutional |  |

**BLACKROCK FUNDS<sup>SM</sup>** 

BlackRock SMID-Cap Growth Equity Fund

(the "Fund")

**Supplement dated March 28, 2023 (the "Supplement") to the Fund's** 

**Summary Prospectuses and Prospectuses, each dated September 28, 2022, as supplemented to date** 

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

**The section of the Summary Prospectuses entitled "Key Facts About BlackRock SMID-Cap Growth Equity Fund — Portfolio Managers" and the section of the Prospectuses entitled "Fund Overview — Key Facts About BlackRock SMID-Cap Growth Equity Fund — Portfolio Managers" are deleted in their entirety and replaced with the following:** 

---

| | | |
|:---|:---|:---|
| **Name** | **Portfolio Manager of**<br> **the Fund Since** | **Title** |
| Phil Ruvinsky, CFA | 2021 | Managing Director of BlackRock, Inc. |
| Caroline Bottinelli | 2023 | Director of BlackRock, Inc. |

---

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

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;**ABOUT THE PORTFOLIO MANAGEMENT TEAM OF SMID-CAP GROWTH EQUITY** |
| &nbsp;&nbsp;&nbsp;The Fund is managed by a team of financial professionals. Phil Ruvinsky, CFA and Caroline Bottinelli are the portfolio managers and are jointly and primarily responsible for the day-to-day management of the Fund. Please see "Management of the Fund — Portfolio Manager Information" for additional information about the portfolio management team. |

---

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

***Portfolio Manager Information***

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

---

| | | | |
|:---|:---|:---|:---|
| **Portfolio Manager** | **Primary Role** | **Since** | **Title and Recent Biography** |
| Phil Ruvinsky, CFA | Jointly and primarily responsible for the day-to-day management of the Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2021 | Managing Director of BlackRock, Inc. since 2019; Director of BlackRock, Inc. from 2013 to 2018; Sector Head and Research Analyst at Surview Capital LLC from 2010 to 2013; various positions, including Portfolio Manager and Investment Analyst, at UBS Global Asset Management from 2002 to 2010. |
| Caroline Bottinelli | Jointly and primarily responsible for the day-to-day management of the Fund's portfolio, including setting the Fund's overall investment strategy and overseeing the management of the Fund. | 2023 | Director of BlackRock, Inc. since 2020; Vice President of BlackRock, Inc. from 2016 to 2020; prior to joining BlackRock, Inc., Ms. Bottinelli was an Equity Research Associate at J.P. Morgan. |

---

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