# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001752724-23-069990
**Filing Date:** 2023-3
**Character Count:** 17893
**Document Hash:** 9838274fe3d9c1c0f55e0dd9e835aee1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-069990.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001752724-23-069990

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20230131

**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:** 23768786

**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 Real Estate Securities Fund (Series ID: S000038448)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000118599 | Investor A Shares    |  |
| C000118600 | Investor C Shares    |  |
| C000118601 | Institutional Shares |  |

## 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 Real Estate Securities Fund

- **b. EDGAR series identifier (if any):** S000038448

- **c. LEI of Series:** 549300619RPPBQL8JR35

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

- **a. Date of fiscal year-end:** 2023-01-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $465451464.87

**Total Liabilities:** $828707.57

**Net Assets:** $464622757.30

**Cash Not Reported:** $935465.65

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000118600 | 5.25%                | -5.18%               | 10.14%               |
| Class ID C000118599 | 5.34%                | -5.08%               | 10.18%               |
| Class ID C000118601 | 5.34%                | -5.10%               | 10.26%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1303918.78             | $22453824.54                               |
| Month 2  | $-1498808.69             | $-23288489.92                              |
| Month 3  | $-4687632.30             | $49167503.27                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Equinix Inc                                | Equinix Inc                                | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     35982 | NS      | $26559393.66  | 5.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                           | Crown Castle Inc                           | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |    106239 | NS      | $15735058.29  | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK LIQUIDITY FUNDS T-FUND PORTFOLIO | BLACKROCK LIQUIDITY FUNDS T-FUND PORTFOLIO | CUSIP: 09248U718<br>LEI: 5493002L9DNZ83RX7V61 | Long             | STIV             | RF                | US        |   5687878 | NS      | $5687878.36   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc              | Rexford Industrial Realty Inc              | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |    288622 | NS      | $18318838.34  | 3.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                         | Equity Residential                         | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |    190838 | NS      | $12146838.70  | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp                        | PotlatchDeltic Corp                        | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               | CORP              | US        |    169204 | NS      | $8282535.80   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                   | Digital Realty Trust Inc                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     42620 | NS      | $4885104.40   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties I             | Ryman Hospitality Properties Inc           | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |     55776 | NS      | $5181032.64   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trus             | Federal Realty Investment Trust            | CUSIP: 313745101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45342 | NS      | $5056993.26   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Outfront Media Inc                         | Outfront Media Inc                         | CUSIP: 69007J106<br>LEI: 549300RZWDYU5722I639 | Long             | EC               | CORP              | US        |    601618 | NS      | $11972198.20  | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                  | Host Hotels & Resorts Inc                  | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |    466556 | NS      | $8794580.60   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust Inc             | Community Healthcare Trust Inc             | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               | CORP              | US        |     62348 | NS      | $2673482.24   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                  | Healthpeak Properties Inc                  | CUSIP: 42250P103<br>LEI: PZ9HF5U52KPF0MH0QN75 | Long             | EC               | CORP              | US        |    278342 | NS      | $7648838.16   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc             | Omega Healthcare Investors Inc             | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |    148345 | NS      | $4367276.80   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                    | Extra Space Storage Inc                    | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72470 | NS      | $11437940.10  | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Corp Inmobiliaria Vesta SAB de             | Corp Inmobiliaria Vesta SAB de CV          | CUSIP: 000000000<br>LEI: 4469000001BIRIFZJ959 | Long             | EC               | CORP              | MX        |    845933 | NS      | $2302781.42   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equitie             | Alexandria Real Estate Equities Inc        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     72499 | NS      | $11653489.26  | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                             | EPR Properties                             | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |    248610 | NS      | $10560952.80  | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Cellnex Telecom SA                         | Cellnex Telecom SA                         | CUSIP: 000000000<br>LEI: 5493008T4YG3AQUI7P67 | Long             | EC               | CORP              | ES        |    102645 | NS      | $4022453.07   | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Physicians Realty Trust                    | Physicians Realty Trust                    | CUSIP: 71943U104<br>LEI: 549300ITOVH0OY7PZC34 | Long             | EC               | CORP              | US        |    453176 | NS      | $7187371.36   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                              | Welltower Inc                              | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               | CORP              | US        |    107514 | NS      | $8067850.56   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                                    | UDR Inc                                    | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |    284316 | NS      | $12109018.44  | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                               | Prologis Inc                               | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    284442 | NS      | $36772661.76  | 7.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                          | Agree Realty Corp                          | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    120885 | NS      | $9021647.55   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                   | EUR/USD FORWARD                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1397.10      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SBA Communications Corp                    | SBA Communications Corp                    | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |     61135 | NS      | $18189496.55  | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc                  | AvalonBay Communities Inc                  | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |    105061 | NS      | $18642023.84  | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                       | Invitation Homes Inc                       | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    416461 | NS      | $13534982.50  | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc                        | STAG Industrial Inc                        | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |    155350 | NS      | $5530460.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                   | USD/EUR FORWARD                            | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-35691.69    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Spirit Realty Capital Inc                  | Spirit Realty Capital Inc                  | CUSIP: 84860W300<br>LEI: 549300LTU6LVPZSHMJ25 | Long             | EC               | CORP              | US        |    169395 | NS      | $7433052.60   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                 | Ventas Inc                                 | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |    230850 | NS      | $11960338.50  | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                        | Sun Communities Inc                        | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |    101034 | NS      | $15848193.24  | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp                       | Regency Centers Corp                       | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     93048 | NS      | $6199788.24   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                        | VICI Properties Inc                        | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |    593921 | NS      | $20300219.78  | 4.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                     | Cousins Properties Inc                     | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |    194432 | NS      | $5331325.44   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                   | Simon Property Group Inc                   | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |    114843 | NS      | $14752731.78  | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Properties Inc                      | Boston Properties Inc                      | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |    115746 | NS      | $8627706.84   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                        | American Tower Corp                        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |    185614 | NS      | $41464311.46  | 8.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                             | Public Storage                             | CUSIP: 74460D109<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EC               | CORP              | US        |     69032 | NS      | $21009198.88  | 4.52%             |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp                       | SL Green Realty Corp                       | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |    130438 | NS      | $5367523.70   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-27

**Name of Applicant:** BlackRock Funds

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer