# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0000940400-25-005410
**Filing Date:** 2025-10
**Character Count:** 64731
**Document Hash:** 79a6b0732d1d60d327519d85a2c7a569
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-005410.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0000940400-25-005410

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250829

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**PERIOD START**: 20260531

**FILER**: 

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

**ORGANIZATION NAME:**
- **EIN:** 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:** 251419566

**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 ADVANTAGE LARGE CAP GROWTH FUND (Series ID: S000001871)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000004883 | INSTITUTIONAL  | CMVIX           |
| C000004885 | INVESTOR A     | BMCAX           |
| C000004887 | INVESTOR C     | BMCCX           |
| C000037656 | Class R Shares |  |
| C000198239 | Class K        |  |

## Nport-Ex

Schedule of Investments (unaudited)

August 31, 2025

**BlackRock Advantage Large Cap Growth Fund**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Aerospace & Defense — 1.4%** | **Aerospace & Defense — 1.4%** | **Aerospace & Defense — 1.4%** |
| Axon Enterprise, Inc.<sup>(a)</sup> | 4337 | $3240997 |
| General Electric Co. | 58686 | 16150387 |
| HEICO Corp., Class A | 1365 | 334438 |
| Howmet Aerospace, Inc. | 8558 | 1489948 |
|  |  | 21215770 |
| **Automobiles — 2.8%** | **Automobiles — 2.8%** | **Automobiles — 2.8%** |
| Tesla, Inc.<sup>(a)</sup> | 127439 | 42548059 |
| **Banks — 0.0%** | **Banks — 0.0%** | **Banks — 0.0%** |
| NU Holdings Ltd., Class A<sup>(a)</sup> | 40103 | 593524 |
| **Biotechnology — 2.5%** | **Biotechnology — 2.5%** | **Biotechnology — 2.5%** |
| AbbVie, Inc. | 100479 | 21140782 |
| Alnylam Pharmaceuticals, Inc.<sup>(a)</sup> | 3670 | 1638692 |
| Gilead Sciences, Inc. | 30693 | 3467388 |
| Natera, Inc.<sup>(a)</sup> | 25157 | 4232665 |
| Regeneron Pharmaceuticals, Inc. | 9101 | 5284951 |
| United Therapeutics Corp.<sup>(a)</sup> | 3270 | 996565 |
| Vertex Pharmaceuticals, Inc.<sup>(a)</sup> | 4765 | 1863210 |
|  |  | 38624253 |
| **Broadline Retail — 5.3%** | **Broadline Retail — 5.3%** | **Broadline Retail — 5.3%** |
| Amazon.com, Inc.<sup>(a)</sup> | 339384 | 77718936 |
| Coupang, Inc., Class A<sup>(a)</sup> | 82324 | 2352820 |
| MercadoLibre, Inc.<sup>(a)</sup> | 315 | 778967 |
|  |  | 80850723 |
| **Building Products — 0.3%** | **Building Products — 0.3%** | **Building Products — 0.3%** |
| Armstrong World Industries, Inc. | 4269 | 835742 |
| Trane Technologies PLC | 10462 | 4348007 |
|  |  | 5183749 |
| **Capital Markets — 2.7%** | **Capital Markets — 2.7%** | **Capital Markets — 2.7%** |
| Blackstone, Inc., Class A | 48245 | 8269193 |
| Charles Schwab Corp. (The) | 172584 | 16540451 |
| Moody's Corp. | 12867 | 6559082 |
| Morgan Stanley | 44239 | 6657085 |
| Nasdaq, Inc. | 26814 | 2540358 |
|  |  | 40566169 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| Cabot Corp. | 1 | 82 |
| Corteva, Inc. | 14045 | 1041998 |
|  |  | 1042080 |
| **Commercial Services & Supplies — 1.0%** | **Commercial Services & Supplies — 1.0%** | **Commercial Services & Supplies — 1.0%** |
| Cintas Corp. | 42554 | 8937616 |
| Republic Services, Inc. | 7566 | 1770217 |
| Waste Management, Inc. | 18930 | 4285563 |
|  |  | 14993396 |
| **Communications Equipment — 1.1%** | **Communications Equipment — 1.1%** | **Communications Equipment — 1.1%** |
| Arista Networks, Inc.<sup>(a)</sup> | 73367 | 10018264 |
| Motorola Solutions, Inc. | 13849 | 6543098 |
|  |  | 16561362 |
| **Construction & Engineering — 0.5%** | **Construction & Engineering — 0.5%** | **Construction & Engineering — 0.5%** |
| Comfort Systems U.S.A., Inc. | 10382 | 7302491 |
| MasTec, Inc.<sup>(a)</sup> | 3525 | 640457 |
|  |  | 7942948 |
| **Consumer Finance — 0.3%** | **Consumer Finance — 0.3%** | **Consumer Finance — 0.3%** |
| American Express Co. | 11504 | 3811045 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Consumer Staples Distribution & Retail — 2.6%** | **Consumer Staples Distribution & Retail — 2.6%** | **Consumer Staples Distribution & Retail — 2.6%** |
| Costco Wholesale Corp. | 28913 | $27274211 |
| Walmart, Inc. | 118747 | 11516084 |
|  |  | 38790295 |
| **Electrical Equipment — 0.6%** | **Electrical Equipment — 0.6%** | **Electrical Equipment — 0.6%** |
| AMETEK, Inc. | 9270 | 1713096 |
| GE Vernova, Inc. | 12535 | 7683579 |
|  |  | 9396675 |
| **Electronic Equipment, Instruments & Components — 1.6%** | **Electronic Equipment, Instruments & Components — 1.6%** | **Electronic Equipment, Instruments & Components — 1.6%** |
| Amphenol Corp., Class A | 165192 | 17982801 |
| Flex Ltd.<sup>(a)</sup> | 71223 | 3818977 |
| Keysight Technologies, Inc.<sup>(a)</sup> | 11506 | 1880426 |
| TE Connectivity PLC | 3996 | 825174 |
|  |  | 24507378 |
| **Entertainment — 3.0%** | **Entertainment — 3.0%** | **Entertainment — 3.0%** |
| Netflix, Inc.<sup>(a)</sup> | 32024 | 38692998 |
| ROBLOX Corp., Class A<sup>(a)</sup> | 15280 | 1903735 |
| Spotify Technology SA<sup>(a)</sup> | 4956 | 3379397 |
| Take-Two Interactive Software, Inc.<sup>(a)</sup> | 5766 | 1345035 |
|  |  | 45321165 |
| **Financial Services — 3.6%** | **Financial Services — 3.6%** | **Financial Services — 3.6%** |
| Mastercard, Inc., Class A | 40294 | 23986615 |
| Visa, Inc., Class A | 89490 | 31480792 |
|  |  | 55467407 |
| **Ground Transportation — 0.5%** | **Ground Transportation — 0.5%** | **Ground Transportation — 0.5%** |
| Uber Technologies, Inc.<sup>(a)</sup> | 52324 | 4905375 |
| Union Pacific Corp. | 12963 | 2898138 |
|  |  | 7803513 |
| **Health Care Equipment & Supplies — 1.4%** | **Health Care Equipment & Supplies — 1.4%** | **Health Care Equipment & Supplies — 1.4%** |
| Boston Scientific Corp.<sup>(a)</sup> | 92166 | 9723513 |
| Insulet Corp.<sup>(a)</sup> | 1784 | 606346 |
| Intuitive Surgical, Inc.<sup>(a)</sup> | 23105 | 10935481 |
|  |  | 21265340 |
| **Health Care Providers & Services — 0.8%** | **Health Care Providers & Services — 0.8%** | **Health Care Providers & Services — 0.8%** |
| Cardinal Health, Inc. | 70329 | 10463549 |
| Cencora, Inc. | 4817 | 1404685 |
|  |  | 11868234 |
| **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** | **Health Care Technology — 0.0%** |
| Veeva Systems, Inc., Class A<sup>(a)</sup> | 1464 | 394109 |
| **Hotels, Restaurants & Leisure — 2.2%** | **Hotels, Restaurants & Leisure — 2.2%** | **Hotels, Restaurants & Leisure — 2.2%** |
| Airbnb, Inc., Class A<sup>(a)</sup> | 34182 | 4461776 |
| Booking Holdings, Inc. | 3228 | 18073733 |
| Chipotle Mexican Grill, Inc.<sup>(a)</sup> | 59997 | 2528274 |
| Darden Restaurants, Inc. | 7658 | 1584747 |
| DoorDash, Inc., Class A<sup>(a)</sup> | 15721 | 3855575 |
| McDonald's Corp. | 10194 | 3196227 |
| Viking Holdings Ltd.<sup>(a)</sup> | 3117 | 198304 |
|  |  | 33898636 |
| **Household Durables — 0.4%** | **Household Durables — 0.4%** | **Household Durables — 0.4%** |
| Garmin Ltd. | 24158 | 5841888 |
| **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** | **Industrial Conglomerates — 0.0%** |
| Honeywell International, Inc. | 19 | 4171 |
| **Insurance — 0.0%** | **Insurance — 0.0%** | **Insurance — 0.0%** |
| Progressive Corp. (The) | 2149 | 530932 |
| **Interactive Media & Services — 9.9%** | **Interactive Media & Services — 9.9%** | **Interactive Media & Services — 9.9%** |
| Alphabet, Inc., Class A | 200465 | 42681003 |

---

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Advantage Large Cap Growth Fund**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Interactive Media & Services (continued)** | **Interactive Media & Services (continued)** | **Interactive Media & Services (continued)** |
| Alphabet, Inc., Class C, NVS | 148856 | $31785222 |
| Meta Platforms, Inc., Class A | 102362 | 75614809 |
|  |  | 150081034 |
| **IT Services — 0.5%** | **IT Services — 0.5%** | **IT Services — 0.5%** |
| GoDaddy, Inc., Class A<sup>(a)</sup> | 21364 | 3168495 |
| International Business Machines Corp. | 9022 | 2196767 |
| Snowflake, Inc., Class A<sup>(a)</sup> | 7465 | 1781597 |
|  |  | 7146859 |
| **Leisure Products — 0.0%** | **Leisure Products — 0.0%** | **Leisure Products — 0.0%** |
| Hasbro, Inc. | 8376 | 679880 |
| **Machinery — 0.7%** | **Machinery — 0.7%** | **Machinery — 0.7%** |
| Mueller Industries, Inc. | 29713 | 2850665 |
| Parker-Hannifin Corp. | 10957 | 8320198 |
|  |  | 11170863 |
| **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** | **Metals & Mining — 0.1%** |
| Carpenter Technology Corp. | 4110 | 990017 |
| **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** | **Pharmaceuticals — 2.5%** |
| Bristol-Myers Squibb Co. | 115513 | 5449903 |
| Eli Lilly & Co. | 44042 | 32264288 |
| Johnson & Johnson | 1540 | 272842 |
|  |  | 37987033 |
| **Semiconductors & Semiconductor Equipment — 20.2%** | **Semiconductors & Semiconductor Equipment — 20.2%** | **Semiconductors & Semiconductor Equipment — 20.2%** |
| Advanced Micro Devices, Inc.<sup>(a)</sup> | 279210 | 45407922 |
| Analog Devices, Inc. | 21925 | 5509972 |
| Astera Labs, Inc.<sup>(a)</sup> | 2764 | 503601 |
| Broadcom, Inc. | 270394 | 80412472 |
| Credo Technology Group Holding Ltd.<sup>(a)</sup> | 8695 | 1069963 |
| KLA Corp. | 1446 | 1260912 |
| Lam Research Corp. | 170612 | 17086792 |
| NVIDIA Corp. | 837619 | 145896477 |
| QUALCOMM, Inc. | 43021 | 6914765 |
| Texas Instruments, Inc. | 15439 | 3126089 |
|  |  | 307188965 |
| **Software — 19.0%** | **Software — 19.0%** | **Software — 19.0%** |
| Adobe, Inc.<sup>(a)</sup> | 34661 | 12363579 |
| AppLovin Corp., Class A<sup>(a)</sup> | 6848 | 3277384 |
| Atlassian Corp., Class A<sup>(a)</sup> | 12542 | 2229717 |
| Autodesk, Inc.<sup>(a)</sup> | 9119 | 2869749 |
| Cadence Design Systems, Inc.<sup>(a)</sup> | 7179 | 2515737 |
| Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> | 1141 | 483442 |
| Elastic NV<sup>(a)</sup> | 32889 | 2797538 |
| Fair Isaac Corp.<sup>(a)</sup> | 2193 | 3336957 |
| Figma, Inc., Class A<sup>(a)</sup> | 8016 | 563364 |
| Fortinet, Inc.<sup>(a)</sup> | 34859 | 2745843 |
| FreedomPay, Inc.<sup>(a)(b)</sup> | 43051 | 809359 |
| HubSpot, Inc.<sup>(a)</sup> | 9470 | 4575620 |
| Intuit, Inc. | 24434 | 16297478 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| Microsoft Corp. | 281199 | $142480721 |
| Oracle Corp. | 109537 | 24769602 |
| Palantir Technologies, Inc., Class A<sup>(a)</sup> | 139333 | 21834874 |
| Palo Alto Networks, Inc.<sup>(a)</sup> | 27132 | 5169189 |
| Salesforce, Inc. | 71478 | 18316238 |
| ServiceNow, Inc.<sup>(a)</sup> | 22433 | 20581380 |
| Workday, Inc., Class A<sup>(a)</sup> | 5062 | 1168411 |
|  |  | 289186182 |
| **Specialty Retail — 2.0%** | **Specialty Retail — 2.0%** | **Specialty Retail — 2.0%** |
| Carvana Co., Class A<sup>(a)</sup> | 1709 | 635611 |
| Home Depot, Inc. (The) | 49992 | 20335246 |
| TJX Cos., Inc. (The) | 68729 | 9389069 |
|  |  | 30359926 |
| **Technology Hardware, Storage & Peripherals — 9.0%** | **Technology Hardware, Storage & Peripherals — 9.0%** | **Technology Hardware, Storage & Peripherals — 9.0%** |
| Apple Inc. | 446957 | 103756598 |
| Dell Technologies, Inc., Class C | 76034 | 9287553 |
| NetApp, Inc. | 116760 | 13169360 |
| Pure Storage, Inc., Class A<sup>(a)</sup> | 59880 | 4647287 |
| Sandisk Corp.<sup>(a)</sup> | 3333 | 174883 |
| Seagate Technology Holdings PLC | 19962 | 3341639 |
| Western Digital Corp. | 34789 | 2794948 |
|  |  | 137172268 |
| **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** | **Textiles, Apparel & Luxury Goods — 0.2%** |
| Ralph Lauren Corp., Class A | 4021 | 1193956 |
| Tapestry, Inc. | 17786 | 1810970 |
|  |  | 3004926 |
| **Wireless Telecommunication Services — 0.1%** | **Wireless Telecommunication Services — 0.1%** | **Wireless Telecommunication Services — 0.1%** |
| T-Mobile U.S., Inc. | 4592 | 1157138 |
| **Total Long-Term Investments — 98.9%** <br>**(Cost: $862,124,383)** | **Total Long-Term Investments — 98.9%** <br>**(Cost: $862,124,383)** | 1505147912 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 1.0%** | **Money Market Funds — 1.0%** | **Money Market Funds — 1.0%** |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, Institutional <br> Shares, 4.16%<sup>(c)(d)</sup><br>| 15378742 | 15378742 |
| **Total Short-Term Securities — 1.0%** <br>**(Cost: $15,378,742)** | **Total Short-Term Securities — 1.0%** <br>**(Cost: $15,378,742)** | 15378742 |
| **Total Investments — 99.9%** <br>**(Cost: $877,503,125)** | **Total Investments — 99.9%** <br>**(Cost: $877,503,125)** | 1520526654 |
| **Other Assets Less Liabilities — 0.1%** | **Other Assets Less Liabilities — 0.1%** | 1343495 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1521870149 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(c)</sup> Affiliate of the Fund.

<sup>(d)</sup> Annualized 7-day yield as of period end.

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Advantage Large Cap Growth Fund**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended August 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*05/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain* <br>*(Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*08/31/25*<br>| *Shares* <br>*Held at* <br>*08/31/25*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL <br> Agency Shares<sup>(a)</sup><br>| &nbsp;&nbsp; $—<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp; $80 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, T-Fund, <br> Institutional Shares<br>| &nbsp;&nbsp; 13188787<br>| &nbsp;&nbsp; 2189955 <br><sup>(c)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 15378742 | &nbsp;&nbsp; 15378742 | &nbsp;&nbsp; 149184 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $15378742 |  | &nbsp;&nbsp; $149264 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> As of period end, the entity is no longer held.

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of collateral investment fees, and other payments to and from borrowers of securities. 

<sup>(c)</sup> Represents net amount purchased (sold).

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | &nbsp;&nbsp; *Number of* <br>*Contracts*<br>| &nbsp;&nbsp;&nbsp;&nbsp; *Expiration* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(000)*<br>| &nbsp;&nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp; NASDAQ 100 E-Mini Index | 37 | 09/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; $17362 | &nbsp;&nbsp;&nbsp;&nbsp; $(45859)<br>|

---

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 — Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 — Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

------

Schedule of Investments (unaudited) (continued)

August 31, 2025

**BlackRock Advantage Large Cap Growth Fund**

**Fair Value Hierarchy as of Period End (continued)**

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks  | &nbsp;&nbsp; $1504338553 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $809359 | &nbsp;&nbsp; $1505147912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 15378742 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 15378742 |
|  | &nbsp;&nbsp; $1519717295 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $809359 | &nbsp;&nbsp; $1520526654 |
| Derivative Financial Instruments<sup>(a)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; $(45859)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(45859)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| NVS | Non-Voting 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 Advantage Large Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000001871

- **c. LEI of Series:** EVCJKT79X4HLD4TDG380

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-08-29

**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:** $1523351895.13

**Total Liabilities:** $1466842.32

**Net Assets:** $1521885052.81

**Cash Not Reported:** $2049867.47

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000004883 | 6.74%                | 3.52%                | 0.96%                |
| Class ID C000004885 | 6.68%                | 3.51%                | 0.96%                |
| Class ID C000004887 | 6.61%                | 3.47%                | 0.87%                |
| Class ID C000037656 | 6.64%                | 3.49%                | 0.94%                |
| Class ID C000198239 | 6.70%                | 3.54%                | 0.96%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $15309014.64             | $79059033.96                               |
| Month 2  | $10268151.06             | $41570792.42                               |
| Month 3  | $6531292.09              | $7838984.34                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHICAGO MERCANTILE EXCHANGE INC.           | NASDAQ 100 E-MINI                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |        35 | NC      | $-45792.12    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Spotify Technology SA                      | Spotify Technology SA                      | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | SE        |      4956 | NS      | $3379397.28   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                               | Autodesk Inc                               | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |      9119 | NS      | $2869749.30   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                                   | Flex Ltd                                   | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | US        |     78243 | NS      | $4195389.66   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Elastic NV                                 | Elastic NV                                 | CUSIP: 000000000<br>LEI: 2549003I48WHHH937I59 | Long             | EC               | CORP              | US        |     35266 | NS      | $2999725.96   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                     | Palo Alto Networks Inc                     | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |     27132 | NS      | $5169188.64   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                              | Snowflake Inc                              | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      2371 | NS      | $565862.86    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Industries Inc                     | Mueller Industries Inc                     | CUSIP: 624756102<br>LEI: 5493005IZFE4VJLLYG84 | Long             | EC               | CORP              | US        |     29713 | NS      | $2850665.22   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                      | Costco Wholesale Corp                      | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     28913 | NS      | $27274211.16  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| HubSpot Inc                                | HubSpot Inc                                | CUSIP: 443573100<br>LEI: 529900BLNVEW0MVKJB37 | Long             | EC               | CORP              | US        |      9470 | NS      | $4575619.90   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                 | Intuit Inc                                 | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     24434 | NS      | $16297478.00  | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co                    | Bristol-Myers Squibb Co                    | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |    115513 | NS      | $5449903.34   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                             | Eli Lilly & Co                             | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |     44042 | NS      | $32264288.36  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hasbro Inc                                 | Hasbro Inc                                 | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |      8376 | NS      | $679879.92    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc                      | Texas Instruments Inc                      | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     16335 | NS      | $3307510.80   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                          | Johnson & Johnson                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      1540 | NS      | $272841.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                                | Corteva Inc                                | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     14045 | NS      | $1041998.55   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                            | McDonald's Corp                            | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     10194 | NS      | $3196226.76   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                                   | KLA Corp                                   | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      1446 | NS      | $1260912.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                                 | AbbVie Inc                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    100479 | NS      | $21140781.60  | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                 | Chipotle Mexican Grill Inc                 | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59997 | NS      | $2528273.58   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                  | Adobe Inc                                  | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     34661 | NS      | $12363578.70  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc                 | Advanced Micro Devices Inc                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    283959 | NS      | $46180252.17  | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| IBM                                        | International Business Machines Corp       | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      7436 | NS      | $1810591.64   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp                          | Lam Research Corp                          | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |    170612 | NS      | $17086791.80  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MASTERCARD INC                             | MASTERCARD INC - A                         | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     40294 | NS      | $23986615.26  | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies Inc                  | Keysight Technologies Inc                  | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |     11506 | NS      | $1880425.58   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                      | Uber Technologies Inc                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     54918 | NS      | $5148562.50   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                        | Arista Networks Inc                        | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |     71878 | NS      | $9814940.90   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Moody's Corp                               | Moody's Corp                               | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     12867 | NS      | $6559081.92   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                                 | HEICO Corp                                 | CUSIP: 422806208<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |      1365 | NS      | $334438.65    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc                   | Crowdstrike Holdings Inc                   | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |       801 | NS      | $339383.70    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp                     | Boston Scientific Corp                     | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     92166 | NS      | $9723513.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                                | Netflix Inc                                | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     32024 | NS      | $38692998.00  | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                     | Trane Technologies PLC                     | CUSIP: 000000000<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |     10462 | NS      | $4348007.20   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Viking Holdings Ltd                        | Viking Holdings Ltd                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |      3117 | NS      | $198303.54    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Comfort Systems USA Inc                    | Comfort Systems USA Inc                    | CUSIP: 199908104<br>LEI: 5299009DT1ZA5HTU6R38 | Long             | EC               | CORP              | US        |     10382 | NS      | $7302491.16   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software              | Take-Two Interactive Software Inc          | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      5766 | NS      | $1345034.82   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc                | Honeywell International Inc                | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |        19 | NS      | $4170.50      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeva Systems Inc                          | Veeva Systems Inc                          | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      2579 | NS      | $694266.80    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Digital Corp                       | Western Digital Corp                       | CUSIP: 958102105<br>LEI: 549300QQXOOYEF89IC56 | Long             | EC               | CORP              | US        |     34789 | NS      | $2794948.26   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Nasdaq Inc                                 | Nasdaq Inc                                 | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |     24629 | NS      | $2333351.46   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                                 | Airbnb Inc                                 | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |     34182 | NS      | $4461776.46   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                       | Booking Holdings Inc                       | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      3228 | NS      | $18073733.40  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management Inc                       | Waste Management Inc                       | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |     18930 | NS      | $4285562.70   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc                         | Analog Devices Inc                         | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     21925 | NS      | $5509971.75   | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc                 | Cadence Design Systems Inc                 | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |      7179 | NS      | $2515736.97   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| VISA INC                                   | VISA INC-CLASS A SHARES                    | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |     89490 | NS      | $31480792.20  | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                                 | Carvana Co                                 | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Long             | EC               | CORP              | US        |      1709 | NS      | $635611.28    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                        | Axon Enterprise Inc                        | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      4337 | NS      | $3240996.73   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands             | NU Holdings Ltd/Cayman Islands             | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | BR        |     40103 | NS      | $593524.40    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                             | AMAZON.COM INC                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    339384 | NS      | $77718936.00  | 5.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Progressive Corp/The                       | Progressive Corp/The                       | CUSIP: 743315103<br>LEI: 529900TACNVLY9DCR586 | Long             | EC               | CORP              | US        |      2149 | NS      | $530931.94    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corp                                | Cintas Corp                                | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42554 | NS      | $8937616.62   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage Inc                           | Pure Storage Inc                           | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     64963 | NS      | $5041778.43   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                       | Howmet Aerospace Inc                       | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      8558 | NS      | $1489947.80   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                            | Astera Labs Inc                            | CUSIP: 04626A103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2764 | NS      | $503600.80    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services Inc                      | Republic Services Inc                      | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      6521 | NS      | $1525718.37   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NetApp Inc                                 | NetApp Inc                                 | CUSIP: 64110D104<br>LEI: QTX3D84DZDD5JYOCYH15 | Long             | EC               | CORP              | US        |    123991 | NS      | $13984944.89  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                         | Home Depot Inc/The                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |     49992 | NS      | $20335245.84  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc                | Alnylam Pharmaceuticals Inc                | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      3670 | NS      | $1638691.70   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Motorola Solutions Inc                     | Motorola Solutions Inc                     | CUSIP: 620076307<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | EC               | CORP              | US        |     13849 | NS      | $6543098.54   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec Inc                                 | MasTec Inc                                 | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |      3525 | NS      | $640457.25    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp                       | Parker-Hannifin Corp                       | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |     10957 | NS      | $8320197.95   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co                        | American Express Co                        | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |     11504 | NS      | $3811045.12   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                               | Fortinet Inc                               | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |     34859 | NS      | $2745843.43   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA CORP                                | NVIDIA CORP                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    837619 | NS      | $145896477.42 | 9.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc                        | Cardinal Health Inc                        | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     70329 | NS      | $10463548.62  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding             | Credo Technology Group Holding Ltd         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8695 | NS      | $1069963.23   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                           | MercadoLibre Inc                           | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |       315 | NS      | $778966.65    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC                         | META PLATFORMS INC                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    102362 | NS      | $75614809.40  | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralph Lauren Corp                          | Ralph Lauren Corp                          | CUSIP: 751212101<br>LEI: HO1QNWM0IXBZ0QSMMO20 | Long             | EC               | CORP              | US        |      4021 | NS      | $1193955.53   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                               | DoorDash Inc                               | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     15721 | NS      | $3855575.25   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp                   | United Therapeutics Corp                   | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      3270 | NS      | $996565.20    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLE INC                                  | APPLE INC                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    446957 | NS      | $103756597.98 | 6.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corp                            | Fair Isaac Corp                            | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |      2193 | NS      | $3336956.52   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PL             | Seagate Technology Holdings PLC            | CUSIP: 000000000<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | US        |     20924 | NS      | $3502677.60   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| AMETEK Inc                                 | AMETEK Inc                                 | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      9270 | NS      | $1713096.00   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| GoDaddy Inc                                | GoDaddy Inc                                | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |     21364 | NS      | $3168494.84   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Figma Inc                                  | Figma Inc                                  | CUSIP: 316841105<br>LEI: 254900273Q0J4Z65HU28 | Long             | EC               | CORP              | US        |      8016 | NS      | $563364.48    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The                    | Charles Schwab Corp/The                    | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    172584 | NS      | $16540450.56  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                        | General Electric Co                        | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |     58686 | NS      | $16150387.20  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corp                               | Insulet Corp                               | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |      1784 | NS      | $606345.92    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp                                | Oracle Corp                                | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |    109537 | NS      | $24769601.81  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp                         | Union Pacific Corp                         | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |     12963 | NS      | $2898137.91   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| FREEDOM PAY INC                            | FREEDOM PAY INC                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43051 | NS      | $809358.80    | 0.05%             |  |  |  | No            |                  3 | On Loan: No      |
| Alphabet Inc                               | Alphabet Inc                               | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    148856 | NS      | $31785221.68  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                | Walmart Inc                                | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    118747 | NS      | $11516084.06  | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Darden Restaurants Inc                     | Darden Restaurants Inc                     | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | EC               | CORP              | US        |      7658 | NS      | $1584746.52   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC                               | ALPHABET INC-CL A                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    203854 | NS      | $43402555.14  | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Sandisk Corp/DE                            | Sandisk Corp/DE                            | CUSIP: 80004C200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3333 | NS      | $174882.51    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corp                  | Carpenter Technology Corp                  | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |      4110 | NS      | $990016.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Dell Technologies Inc                      | Dell Technologies Inc                      | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |     76034 | NS      | $9287553.10   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc                  | Palantir Technologies Inc                  | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |    139333 | NS      | $21834874.43  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corp                             | Atlassian Corp                             | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | AU        |     12542 | NS      | $2229716.76   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Tapestry Inc                               | Tapestry Inc                               | CUSIP: 876030107<br>LEI: 549300LJNVY5SW3VTN33 | Long             | EC               | CORP              | US        |     13386 | NS      | $1362962.52   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera Inc                                 | Natera Inc                                 | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25157 | NS      | $4232665.25   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                              | AppLovin Corp                              | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |      6848 | NS      | $3277384.32   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd                                 | Garmin Ltd                                 | CUSIP: 000000000<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |     24158 | NS      | $5841887.56   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                                | Cencora Inc                                | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      4817 | NS      | $1404685.37   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                               | QUALCOMM Inc                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     43021 | NS      | $6914765.33   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                             | Salesforce Inc                             | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |     72692 | NS      | $18627325.00  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                             | ServiceNow Inc                             | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |     22433 | NS      | $20581380.18  | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                             | Blackstone Inc                             | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |     48245 | NS      | $8269193.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corp                                 | Cabot Corp                                 | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |         1 | NS      | $81.56        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                             | Morgan Stanley                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |     44239 | NS      | $6657084.72   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                  | Tesla Inc                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |    127967 | NS      | $42724342.29  | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ROBLOX Corp                                | ROBLOX Corp                                | CUSIP: 771049103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15280 | NS      | $1903735.20   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                              | Amphenol Corp                              | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    165192 | NS      | $17982801.12  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Armstrong World Industries Inc             | Armstrong World Industries Inc             | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |      4269 | NS      | $835742.13    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                             | MICROSOFT CORP                             | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    281199 | NS      | $142480721.31 | 9.36%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos Inc/The                            | TJX Cos Inc/The                            | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     67385 | NS      | $9205464.85   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                            | T-Mobile US Inc                            | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      4592 | NS      | $1157138.08   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                             | GE Vernova Inc                             | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |     12535 | NS      | $7683578.95   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                               | Broadcom Inc                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    270394 | NS      | $80412471.66  | 5.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                | Workday Inc                                | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |      5811 | NS      | $1341295.02   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Inc                 | Vertex Pharmaceuticals Inc                 | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |      4765 | NS      | $1863210.30   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Coupang Inc                                | Coupang Inc                                | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |     82324 | NS      | $2352819.92   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                     | Intuitive Surgical Inc                     | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     23105 | NS      | $10935480.98  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc                        | Gilead Sciences Inc                        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |     30693 | NS      | $3467388.21   | 0.23%             |  |  |  | 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        |  14493898 | NS      | $14493897.70  | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals Inc              | Regeneron Pharmaceuticals Inc              | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      9101 | NS      | $5284950.70   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-27

**Name of Applicant:** BlackRock Funds

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer