# EDGAR Filing Document

**Accession Number:** 0000844779
**File Stem:** 0001410368-25-043428
**Filing Date:** 2025-12
**Character Count:** 167510
**Document Hash:** a6e8c08074172fab023ec2bd13e6d9e7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-043428.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001410368-25-043428

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260131

**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:** 251606837

**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

### iShares Developed Real Estate Index Fund (Series ID: S000050371)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000159045 | Investor A    |  |
| C000159046 | Institutional |  |
| C000159047 | Class K       |  |

## Nport-Ex

October 31, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

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

---

| |
|:---|
| **BlackRock Funds**<sup>SM</sup> |
| • iShares Developed Real Estate Index Fund |

---

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

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

October 31, 2025

**iShares Developed Real Estate Index 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** |
| **Diversified REITs — 6.8%** | **Diversified REITs — 6.8%** |  |
| Activia Properties, Inc. | 268 | &nbsp;&nbsp; $245212 |
| AEW U.K. REIT PLC | 19411 | &nbsp;&nbsp; 26520 |
| Alexander & Baldwin, Inc. | 9586 | &nbsp;&nbsp; 153088 |
| American Assets Trust, Inc. | 7113 | &nbsp;&nbsp; 135929 |
| Argosy Property Ltd.<sup>(a)</sup> | 114810 | &nbsp;&nbsp; 84346 |
| British Land Co. PLC | 127852 | &nbsp;&nbsp; 638551 |
| Broadstone Net Lease, Inc. | 24954 | &nbsp;&nbsp; 447176 |
| CapitaLand Integrated Commercial Trust | 755413 | &nbsp;&nbsp; 1373333 |
| Charter Hall Group | 61357 | &nbsp;&nbsp; 901132 |
| Charter Hall Long Wale REIT | 87554 | &nbsp;&nbsp; 243588 |
| Covivio SA/France | 7153 | &nbsp;&nbsp; 458921 |
| Custodian Property Income REIT PLC | 49830 | &nbsp;&nbsp; 52631 |
| Daiwa House REIT Investment Corp. | 547 | &nbsp;&nbsp; 471377 |
| Essential Properties Realty Trust, Inc. | 26090 | &nbsp;&nbsp; 779569 |
| Global Net Lease, Inc. | 26453 | &nbsp;&nbsp; 201572 |
| GPT Group | 254568 | &nbsp;&nbsp; 894170 |
| Growthpoint Properties Australia Ltd. | 38160 | &nbsp;&nbsp; 63928 |
| H&R Real Estate Investment Trust | 34095 | &nbsp;&nbsp; 272021 |
| Hankyu Hanshin REIT, Inc. | 83 | &nbsp;&nbsp; 95464 |
| Heiwa Real Estate REIT, Inc. | 129 | &nbsp;&nbsp; 129163 |
| Hulic REIT, Inc. | 169 | &nbsp;&nbsp; 188098 |
| ICADE | 6193 | &nbsp;&nbsp; 150902 |
| KDX Realty Investment Corp. | 491 | &nbsp;&nbsp; 543613 |
| Land Securities Group PLC | 98656 | &nbsp;&nbsp; 806275 |
| Mapletree Pan Asia Commercial Trust | 290047 | &nbsp;&nbsp; 320898 |
| Merlin Properties Socimi SA | 50173 | &nbsp;&nbsp; 781608 |
| Mirai Corp. | 249 | &nbsp;&nbsp; 77998 |
| Mirvac Group | 523876 | &nbsp;&nbsp; 788657 |
| Mori Trust Reit, Inc. | 297 | &nbsp;&nbsp; 149770 |
| Nippon REIT Investment Corp. | 204 | &nbsp;&nbsp; 128812 |
| Nomura Real Estate Master Fund, Inc. | 543 | &nbsp;&nbsp; 579378 |
| NTT UD REIT Investment Corp. | 176 | &nbsp;&nbsp; 155852 |
| OUE Real Estate Investment Trust | 316100 | &nbsp;&nbsp; 83785 |
| Picton Property Income Ltd. | 65574 | &nbsp;&nbsp; 67279 |
| Schroder Real Estate Investment Trust Ltd. | 72307 | &nbsp;&nbsp; 51769 |
| Sekisui House REIT, Inc. | 524 | &nbsp;&nbsp; 269687 |
| Star Asia Investment Corp. | 310 | &nbsp;&nbsp; 123378 |
| Stockland | 310077 | &nbsp;&nbsp; 1281976 |
| Stoneweg Europe Stapled Trust | 46500 | &nbsp;&nbsp; 81469 |
| Stride Property Group | 78670 | &nbsp;&nbsp; 66178 |
| Sunlight Real Estate Investment Trust<sup>(a)</sup> | 171000 | &nbsp;&nbsp; 51900 |
| Suntec Real Estate Investment Trust | 281900 | &nbsp;&nbsp; 290211 |
| Takara Leben Real Estate Investment Corp. | 103 | &nbsp;&nbsp; 62099 |
| United Urban Investment Corp. | 403 | &nbsp;&nbsp; 487737 |
| WP Carey, Inc. | 28753 | &nbsp;&nbsp; 1897698 |
|  |  | &nbsp;&nbsp; 17154718 |
| **Health Care Providers & Services — 0.2%** | **Health Care Providers & Services — 0.2%** |  |
| Chartwell Retirement Residences | 38061 | &nbsp;&nbsp; 560922 |
| **Health Care REITs — 12.4%** | **Health Care REITs — 12.4%** |  |
| Aedifica SA | 6337 | &nbsp;&nbsp; 462781 |
| Alexandria Real Estate Equities, Inc. | 22753 | &nbsp;&nbsp; 1324680 |
| American Healthcare REIT, Inc. | 20903 | &nbsp;&nbsp; 947324 |
| CareTrust REIT, Inc. | 27983 | &nbsp;&nbsp; 969611 |
| Cofinimmo SA | 5097 | &nbsp;&nbsp; 435262 |
| Health Care & Medical Investment Corp. | 45 | &nbsp;&nbsp; 33625 |
| Healthcare Realty Trust, Inc. | 43675 | &nbsp;&nbsp; 773921 |
| Healthpeak Properties, Inc. | 91952 | &nbsp;&nbsp; 1650538 |
| Life Science REIT PLC<sup>(b)</sup> | 34022 | &nbsp;&nbsp; 16770 |
| LTC Properties, Inc. | 6023 | &nbsp;&nbsp; 211287 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Health Care REITs (continued)** | **Health Care REITs (continued)** |  |
| Medical Properties Trust, Inc. | 65057 | &nbsp;&nbsp; $336345 |
| National Health Investors, Inc. | 6087 | &nbsp;&nbsp; 453542 |
| &nbsp;&nbsp;&nbsp; NorthWest Healthcare Properties Real Estate Investment <br> Trust<br>| 29836 | &nbsp;&nbsp; 107853 |
| Omega Healthcare Investors, Inc. | 38094 | &nbsp;&nbsp; 1601091 |
| Parkway Life Real Estate Investment Trust | 55900 | &nbsp;&nbsp; 176061 |
| Primary Health Properties PLC | 336739 | &nbsp;&nbsp; 414591 |
| Sabra Health Care REIT, Inc. | 31057 | &nbsp;&nbsp; 553436 |
| Sila Realty Trust, Inc. | 7465 | &nbsp;&nbsp; 176921 |
| Target Healthcare REIT PLC | 84561 | &nbsp;&nbsp; 104813 |
| Ventas, Inc. | 60095 | &nbsp;&nbsp; 4434410 |
| Welltower, Inc. | 88777 | &nbsp;&nbsp; 16072188 |
|  |  | &nbsp;&nbsp; 31257050 |
| **Hotel & Resort REITs — 1.9%** | **Hotel & Resort REITs — 1.9%** |  |
| Apple Hospitality REIT, Inc. | 28945 | &nbsp;&nbsp; 323894 |
| CapitaLand Ascott Trust | 337133 | &nbsp;&nbsp; 244481 |
| CDL Hospitality Trusts | 98554 | &nbsp;&nbsp; 62439 |
| DiamondRock Hospitality Co. | 27269 | &nbsp;&nbsp; 213244 |
| Far East Hospitality Trust | 126300 | &nbsp;&nbsp; 58674 |
| Hoshino Resorts REIT, Inc. | 74 | &nbsp;&nbsp; 123659 |
| Host Hotels & Resorts, Inc. | 90966 | &nbsp;&nbsp; 1457275 |
| Invincible Investment Corp. | 965 | &nbsp;&nbsp; 431156 |
| Japan Hotel REIT Investment Corp. | 646 | &nbsp;&nbsp; 376323 |
| Park Hotels & Resorts, Inc. | 25837 | &nbsp;&nbsp; 265863 |
| Pebblebrook Hotel Trust | 15798 | &nbsp;&nbsp; 165247 |
| RLJ Lodging Trust | 19907 | &nbsp;&nbsp; 135368 |
| Ryman Hospitality Properties, Inc. | 8024 | &nbsp;&nbsp; 697366 |
| Sunstone Hotel Investors, Inc. | 25044 | &nbsp;&nbsp; 221639 |
| Xenia Hotels & Resorts, Inc. | 13296 | &nbsp;&nbsp; 163541 |
|  |  | &nbsp;&nbsp; 4940169 |
| **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** |  |
| PPHE Hotel Group Ltd. | 2777 | &nbsp;&nbsp; 52215 |
| **Industrial REITs — 14.9%** | **Industrial REITs — 14.9%** |  |
| AIMS APAC REIT | 81232 | &nbsp;&nbsp; 86127 |
| Americold Realty Trust, Inc. | 37698 | &nbsp;&nbsp; 485927 |
| ARGAN SA | 2225 | &nbsp;&nbsp; 173163 |
| CapitaLand Ascendas REIT | 494359 | &nbsp;&nbsp; 1070303 |
| Centuria Industrial REIT | 81077 | &nbsp;&nbsp; 187974 |
| CRE Logistics REIT, Inc. | 75 | &nbsp;&nbsp; 76417 |
| Dexus Industria REIT | 46360 | &nbsp;&nbsp; 86762 |
| Dream Industrial Real Estate Investment Trust | 38708 | &nbsp;&nbsp; 333663 |
| EastGroup Properties, Inc. | 7023 | &nbsp;&nbsp; 1225724 |
| ESR-REIT | 82123 | &nbsp;&nbsp; 180395 |
| First Industrial Realty Trust, Inc. | 16977 | &nbsp;&nbsp; 938489 |
| Frasers Logistics & Commercial Trust | 393100 | &nbsp;&nbsp; 288272 |
| GLP J-REIT | 578 | &nbsp;&nbsp; 523954 |
| Goodman Group | 263218 | &nbsp;&nbsp; 5677132 |
| Goodman Property Trust | 140455 | &nbsp;&nbsp; 170396 |
| Granite Real Estate Investment Trust | 8034 | &nbsp;&nbsp; 451492 |
| Industrial & Infrastructure Fund Investment Corp. | 320 | &nbsp;&nbsp; 297313 |
| Innovative Industrial Properties, Inc. | 3798 | &nbsp;&nbsp; 190470 |
| Japan Logistics Fund, Inc. | 331 | &nbsp;&nbsp; 214317 |
| LaSalle Logiport REIT | 213 | &nbsp;&nbsp; 206246 |
| Lineage, Inc. | 9497 | &nbsp;&nbsp; 374182 |
| LondonMetric Property PLC | 295138 | &nbsp;&nbsp; 738378 |
| LXP Industrial Trust | 38954 | &nbsp;&nbsp; 369673 |
| Mapletree Industrial Trust<sup>(a)</sup> | 274710 | &nbsp;&nbsp; 449265 |
| Mapletree Logistics Trust<sup>(a)</sup> | 448609 | &nbsp;&nbsp; 461646 |
| Mitsubishi Estate Logistics REIT Investment Corp. | 180 | &nbsp;&nbsp; 144211 |
| Mitsui Fudosan Logistics Park, Inc.<sup>(a)</sup> | 384 | &nbsp;&nbsp; 278349 |
| Montea NV | 2774 | &nbsp;&nbsp; 224023 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Developed Real Estate Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Industrial REITs (continued)** | **Industrial REITs (continued)** |  |
| Nippon Prologis REIT, Inc. | 952 | &nbsp;&nbsp; $553710 |
| Prologis, Inc. | 123055 | &nbsp;&nbsp; 15269895 |
| Rexford Industrial Realty, Inc. | 31438 | &nbsp;&nbsp; 1299018 |
| Segro PLC | 178946 | &nbsp;&nbsp; 1642073 |
| SOSiLA Logistics REIT, Inc. | 87 | &nbsp;&nbsp; 69647 |
| STAG Industrial, Inc. | 24761 | &nbsp;&nbsp; 947603 |
| Terreno Realty Corp. | 13474 | &nbsp;&nbsp; 769770 |
| Tritax Big Box REIT PLC | 322685 | &nbsp;&nbsp; 636998 |
| Warehouses De Pauw CVA | 24768 | &nbsp;&nbsp; 628975 |
|  |  | &nbsp;&nbsp; 37721952 |
| **IT Services**<sup>(a)</sup> **— 0.4%** | **IT Services**<sup>(a)</sup> **— 0.4%** |  |
| NEXTDC Ltd.<sup>(b)</sup> | 84438 | &nbsp;&nbsp; 868101 |
| SUNeVision Holdings Ltd. | 73000 | &nbsp;&nbsp; 56702 |
|  |  | &nbsp;&nbsp; 924803 |
| **Office REITs — 5.0%** | **Office REITs — 5.0%** |  |
| Abacus Group | 67735 | &nbsp;&nbsp; 53230 |
| Allied Properties Real Estate Investment Trust<sup>(a)</sup> | 16668 | &nbsp;&nbsp; 175646 |
| Brandywine Realty Trust | 23179 | &nbsp;&nbsp; 79504 |
| BXP, Inc. | 21010 | &nbsp;&nbsp; 1495702 |
| Centuria Office REIT | 63851 | &nbsp;&nbsp; 49288 |
| Champion REIT<sup>(a)</sup> | 281000 | &nbsp;&nbsp; 75475 |
| COPT Defense Properties | 15071 | &nbsp;&nbsp; 424550 |
| Cousins Properties, Inc. | 21987 | &nbsp;&nbsp; 570123 |
| Cromwell Property Group | 225959 | &nbsp;&nbsp; 68733 |
| Daiwa Office Investment Corp. | 66 | &nbsp;&nbsp; 161456 |
| Derwent London PLC | 13897 | &nbsp;&nbsp; 321791 |
| Dexus | 139833 | &nbsp;&nbsp; 666692 |
| Douglas Emmett, Inc. | 19480 | &nbsp;&nbsp; 252071 |
| Easterly Government Properties, Inc. | 5632 | &nbsp;&nbsp; 121764 |
| Empire State Realty Trust, Inc., Class A | 18784 | &nbsp;&nbsp; 138814 |
| Gecina SA | 6856 | &nbsp;&nbsp; 637137 |
| Global One Real Estate Investment Corp. | 127 | &nbsp;&nbsp; 116769 |
| Great Portland Estates PLC | 51546 | &nbsp;&nbsp; 225647 |
| Helical PLC | 14789 | &nbsp;&nbsp; 40532 |
| Highwoods Properties, Inc. | 14151 | &nbsp;&nbsp; 405143 |
| Ichigo Office REIT Investment Corp. | 118 | &nbsp;&nbsp; 72677 |
| Inmobiliaria Colonial Socimi SA | 48575 | &nbsp;&nbsp; 307371 |
| Japan Excellent, Inc. | 152 | &nbsp;&nbsp; 145086 |
| Japan Prime Realty Investment Corp. | 479 | &nbsp;&nbsp; 325846 |
| Japan Real Estate Investment Corp. | 895 | &nbsp;&nbsp; 738171 |
| JBG SMITH Properties | 8339 | &nbsp;&nbsp; 162527 |
| Keppel REIT | 324600 | &nbsp;&nbsp; 261920 |
| Kilroy Realty Corp. | 15743 | &nbsp;&nbsp; 665142 |
| Mori Hills REIT Investment Corp. | 190 | &nbsp;&nbsp; 180227 |
| Nippon Building Fund, Inc. | 1048 | &nbsp;&nbsp; 967008 |
| NSI NV | 2281 | &nbsp;&nbsp; 53764 |
| One REIT, Inc. | 99 | &nbsp;&nbsp; 57357 |
| Orix JREIT, Inc. | 694 | &nbsp;&nbsp; 469755 |
| Paramount Group, Inc.<sup>(b)</sup> | 25213 | &nbsp;&nbsp; 164893 |
| Piedmont Realty Trust, Inc., Class A | 16986 | &nbsp;&nbsp; 136907 |
| Precinct Properties Group | 197437 | &nbsp;&nbsp; 140099 |
| Prosperity REIT | 227000 | &nbsp;&nbsp; 40898 |
| Regional REIT Ltd.<sup>(c)</sup> | 18818 | &nbsp;&nbsp; 26254 |
| Sankei Real Estate, Inc. | 70 | &nbsp;&nbsp; 44812 |
| SL Green Realty Corp. | 9391 | &nbsp;&nbsp; 482228 |
| Tokyu REIT, Inc. | 120 | &nbsp;&nbsp; 154026 |
| Vornado Realty Trust | 23395 | &nbsp;&nbsp; 887606 |
| Workspace Group PLC | 18672 | &nbsp;&nbsp; 102533 |
|  |  | &nbsp;&nbsp; 12667174 |
| **Real Estate Management & Development — 12.8%** | **Real Estate Management & Development — 12.8%** |  |
| Abrdn European Logistics Income PLC<sup>(c)</sup> | 53468 | &nbsp;&nbsp; 25001 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** |  |
| Allreal Holding AG, Class N, Registered Shares | 1972 | &nbsp;&nbsp; $471325 |
| Amot Investments Ltd. | 31706 | &nbsp;&nbsp; 250317 |
| Aroundtown SA<sup>(b)</sup> | 92684 | &nbsp;&nbsp; 331203 |
| Atrium Ljungberg AB, B Shares | 30442 | &nbsp;&nbsp; 109781 |
| Azrieli Group Ltd. | 4858 | &nbsp;&nbsp; 512529 |
| CA Immobilien Anlagen AG | 3812 | &nbsp;&nbsp; 105961 |
| CapitaLand Investment Ltd./Singapore | 301500 | &nbsp;&nbsp; 610851 |
| Castellum AB | 45490 | &nbsp;&nbsp; 517322 |
| Catena AB | 5434 | &nbsp;&nbsp; 263285 |
| Cibus Nordic Real Estate AB publ | 9940 | &nbsp;&nbsp; 172324 |
| City Developments Ltd. | 50900 | &nbsp;&nbsp; 282722 |
| Citycon OYJ | 10141 | &nbsp;&nbsp; 34433 |
| Corem Property Group AB, Class B | 97451 | &nbsp;&nbsp; 39631 |
| Deutsche EuroShop AG, Class N | 1283 | &nbsp;&nbsp; 27434 |
| Deutsche Wohnen SE | 6666 | &nbsp;&nbsp; 166135 |
| Dios Fastigheter AB | 14515 | &nbsp;&nbsp; 98920 |
| Entra ASA<sup>(c)</sup> | 6538 | &nbsp;&nbsp; 72679 |
| Fabege AB | 24312 | &nbsp;&nbsp; 214068 |
| Fastighets AB Balder, B shares<sup>(b)</sup> | 91860 | &nbsp;&nbsp; 673781 |
| FastPartner AB, Class A | 6797 | &nbsp;&nbsp; 35987 |
| Grainger PLC | 93178 | &nbsp;&nbsp; 229578 |
| Grand City Properties SA<sup>(b)</sup> | 8570 | &nbsp;&nbsp; 109124 |
| Heba Fastighets AB, Class B | 9372 | &nbsp;&nbsp; 32247 |
| Heiwa Real Estate Co. Ltd. | 5000 | &nbsp;&nbsp; 73178 |
| Henderson Land Development Co. Ltd. | 175000 | &nbsp;&nbsp; 615606 |
| Hiag Immobilien Holding AG | 530 | &nbsp;&nbsp; 72894 |
| Hongkong Land Holdings Ltd. | 133500 | &nbsp;&nbsp; 815727 |
| Hufvudstaden AB, Class A | 13908 | &nbsp;&nbsp; 184854 |
| Hulic Co. Ltd. | 61600 | &nbsp;&nbsp; 636412 |
| Hysan Development Co. Ltd. | 80000 | &nbsp;&nbsp; 165740 |
| Intea Fastigheter AB, Class B<sup>(b)</sup> | 8947 | &nbsp;&nbsp; 63616 |
| Intershop Holding AG | 741 | &nbsp;&nbsp; 145252 |
| Kennedy-Wilson Holdings, Inc. | 15076 | &nbsp;&nbsp; 113975 |
| Kojamo OYJ<sup>(b)</sup> | 20168 | &nbsp;&nbsp; 244322 |
| LEG Immobilien SE | 9936 | &nbsp;&nbsp; 757265 |
| Lifestyle Communities Ltd. | 12054 | &nbsp;&nbsp; 40795 |
| Logistea AB, Class B | 34075 | &nbsp;&nbsp; 54806 |
| Melisron Ltd. | 3284 | &nbsp;&nbsp; 427462 |
| Mitsubishi Estate Co. Ltd. | 148600 | &nbsp;&nbsp; 3149113 |
| Mitsui Fudosan Co. Ltd. | 346500 | &nbsp;&nbsp; 3607897 |
| Mobimo Holding AG, Registered Shares | 946 | &nbsp;&nbsp; 400992 |
| Neobo Fastigheter AB<sup>(b)</sup> | 15518 | &nbsp;&nbsp; 31188 |
| New World Development Co. Ltd.<sup>(b)</sup> | 177507 | &nbsp;&nbsp; 164306 |
| Nomura Real Estate Holdings, Inc. | 69300 | &nbsp;&nbsp; 395763 |
| NP3 Fastigheter AB | 4057 | &nbsp;&nbsp; 110441 |
| Nyfosa AB | 21841 | &nbsp;&nbsp; 185788 |
| Pandox AB | 13658 | &nbsp;&nbsp; 272290 |
| Peach Property Group AG<sup>(b)</sup> | 5283 | &nbsp;&nbsp; 40439 |
| Platzer Fastigheter Holding AB, Class B | 9228 | &nbsp;&nbsp; 71005 |
| PSP Swiss Property AG, Class N, Registered Shares | 6059 | &nbsp;&nbsp; 1047987 |
| Public Property Invest AS | 27127 | &nbsp;&nbsp; 59835 |
| Sagax AB, Class B | 28289 | &nbsp;&nbsp; 634825 |
| Samhallsbyggnadsbolaget i Norden AB, Class B<sup>(a)(b)</sup> | 130539 | &nbsp;&nbsp; 71664 |
| Sino Land Co. Ltd. | 479405 | &nbsp;&nbsp; 595486 |
| Sirius Real Estate Ltd. | 195632 | &nbsp;&nbsp; 256616 |
| StorageVault Canada, Inc. | 28143 | &nbsp;&nbsp; 99325 |
| Sumitomo Realty & Development Co. Ltd. | 43200 | &nbsp;&nbsp; 1844510 |
| Sun Hung Kai Properties Ltd. | 185000 | &nbsp;&nbsp; 2251225 |
| Sveafastigheter AB<sup>(b)</sup> | 9591 | &nbsp;&nbsp; 42975 |
| Swedish Logistic Property AB, Class B<sup>(a)(b)</sup> | 22806 | &nbsp;&nbsp; 100464 |
| Swire Properties Ltd. | 126000 | &nbsp;&nbsp; 343259 |
| Swiss Prime Site AG, Registered Shares | 10271 | &nbsp;&nbsp; 1459950 |
| TAG Immobilien AG | 22569 | &nbsp;&nbsp; 374666 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Developed Real Estate Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** |  |
| Tokyo Tatemono Co. Ltd. | 25500 | &nbsp;&nbsp; $476091 |
| UOL Group Ltd. | 60800 | &nbsp;&nbsp; 371440 |
| VGP NV | 1793 | &nbsp;&nbsp; 207138 |
| Vonovia SE | 93081 | &nbsp;&nbsp; 2797619 |
| Wallenstam AB, B Shares | 44873 | &nbsp;&nbsp; 207633 |
| Wharf Real Estate Investment Co. Ltd. | 206000 | &nbsp;&nbsp; 586321 |
| Wihlborgs Fastigheter AB | 36037 | &nbsp;&nbsp; 350189 |
|  |  | &nbsp;&nbsp; 32406982 |
| **Residential REITs — 10.2%** | **Residential REITs — 10.2%** |  |
| Advance Residence Investment Corp. | 348 | &nbsp;&nbsp; 376656 |
| Altarea SCA | 890 | &nbsp;&nbsp; 101520 |
| American Homes 4 Rent, Class A | 45322 | &nbsp;&nbsp; 1432175 |
| Apartment Investment and Management Co., Class A | 17834 | &nbsp;&nbsp; 94877 |
| AvalonBay Communities, Inc. | 18865 | &nbsp;&nbsp; 3281001 |
| Boardwalk Real Estate Investment Trust | 5346 | &nbsp;&nbsp; 246498 |
| Camden Property Trust | 14257 | &nbsp;&nbsp; 1418286 |
| Canadian Apartment Properties REIT | 20671 | &nbsp;&nbsp; 568451 |
| Care Property Invest NV | 5335 | &nbsp;&nbsp; 70251 |
| Centerspace | 2312 | &nbsp;&nbsp; 136986 |
| Comforia Residential REIT, Inc. | 85 | &nbsp;&nbsp; 179255 |
| Daiwa Securities Living Investments Corp. | 270 | &nbsp;&nbsp; 193435 |
| Elme Communities | 11694 | &nbsp;&nbsp; 192366 |
| Empiric Student Property PLC | 94853 | &nbsp;&nbsp; 97070 |
| Equity LifeStyle Properties, Inc. | 25487 | &nbsp;&nbsp; 1555981 |
| Equity Residential | 50243 | &nbsp;&nbsp; 2986444 |
| Essex Property Trust, Inc. | 8454 | &nbsp;&nbsp; 2128464 |
| Home Invest Belgium SA | 1348 | &nbsp;&nbsp; 29118 |
| Home REIT PLC<sup>(b)(d)</sup> | 1048527 | &nbsp;&nbsp; 141326 |
| Independence Realty Trust, Inc. | 30831 | &nbsp;&nbsp; 491138 |
| Ingenia Communities Group | 54342 | &nbsp;&nbsp; 199704 |
| InterRent Real Estate Investment Trust | 18178 | &nbsp;&nbsp; 173414 |
| Invitation Homes, Inc. | 81166 | &nbsp;&nbsp; 2284823 |
| Irish Residential Properties REIT PLC | 75396 | &nbsp;&nbsp; 80648 |
| Killam Apartment Real Estate Investment Trust<sup>(a)</sup> | 15886 | &nbsp;&nbsp; 196288 |
| Mid-America Apartment Communities, Inc. | 15435 | &nbsp;&nbsp; 1979230 |
| NexPoint Residential Trust, Inc. | 3050 | &nbsp;&nbsp; 93543 |
| Nippon Accommodations Fund, Inc. | 300 | &nbsp;&nbsp; 252820 |
| PRS REIT PLC | 71922 | &nbsp;&nbsp; 105409 |
| Residential Secure Income PLC<sup>(c)</sup> | 22484 | &nbsp;&nbsp; 17072 |
| Samty Residential Investment Corp. | 43 | &nbsp;&nbsp; 31457 |
| Social Housing REIT PLC<sup>(c)</sup> | 46231 | &nbsp;&nbsp; 41299 |
| Starts Proceed Investment Corp. | 26 | &nbsp;&nbsp; 34129 |
| Sun Communities, Inc. | 16761 | &nbsp;&nbsp; 2121943 |
| UDR, Inc. | 43824 | &nbsp;&nbsp; 1476430 |
| UMH Properties, Inc. | 10766 | &nbsp;&nbsp; 156538 |
| UNITE Group PLC | 55195 | &nbsp;&nbsp; 411711 |
| Veris Residential, Inc. | 10678 | &nbsp;&nbsp; 153336 |
| Xior Student Housing NV | 5030 | &nbsp;&nbsp; 164115 |
|  |  | &nbsp;&nbsp; 25695207 |
| **Retail REITs — 15.6%** | **Retail REITs — 15.6%** |  |
| Acadia Realty Trust | 17056 | &nbsp;&nbsp; 325258 |
| AEON REIT Investment Corp. | 231 | &nbsp;&nbsp; 195571 |
| Agree Realty Corp. | 14360 | &nbsp;&nbsp; 1048424 |
| Ascencio | 745 | &nbsp;&nbsp; 43191 |
| Brixmor Property Group, Inc. | 40385 | &nbsp;&nbsp; 1056472 |
| BWP Property Group Ltd. | 77654 | &nbsp;&nbsp; 195297 |
| Carmila SA | 8577 | &nbsp;&nbsp; 156364 |
| Charter Hall Retail REIT | 80579 | &nbsp;&nbsp; 217157 |
| Choice Properties Real Estate Investment Trust<sup>(a)</sup> | 36102 | &nbsp;&nbsp; 381985 |
| Crombie Real Estate Investment Trust<sup>(a)</sup> | 14746 | &nbsp;&nbsp; 156970 |
| Curbline Properties Corp. | 12653 | &nbsp;&nbsp; 291778 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Retail REITs (continued)** | **Retail REITs (continued)** |  |
| Eurocommercial Properties NV | 5764 | &nbsp;&nbsp; $172113 |
| Federal Realty Investment Trust | 11284 | &nbsp;&nbsp; 1085408 |
| First Capital Real Estate Investment Trust | 28566 | &nbsp;&nbsp; 383107 |
| Fortune Real Estate Investment Trust | 218000 | &nbsp;&nbsp; 140822 |
| Frasers Centrepoint Trust | 173970 | &nbsp;&nbsp; 312743 |
| Frontier Real Estate Investment Corp. | 338 | &nbsp;&nbsp; 198533 |
| Fukuoka REIT Corp. | 101 | &nbsp;&nbsp; 123863 |
| Getty Realty Corp. | 6953 | &nbsp;&nbsp; 190721 |
| Hamborner REIT AG | 8338 | &nbsp;&nbsp; 49918 |
| Hammerson PLC | 62004 | &nbsp;&nbsp; 248805 |
| HomeCo Daily Needs REIT | 244845 | &nbsp;&nbsp; 218693 |
| Immobiliare Grande Distribuzione SIIQ SpA | 6838 | &nbsp;&nbsp; 27719 |
| InvenTrust Properties Corp. | 10163 | &nbsp;&nbsp; 278466 |
| Japan Metropolitan Fund Invest | 889 | &nbsp;&nbsp; 687705 |
| Kimco Realty Corp. | 88642 | &nbsp;&nbsp; 1831344 |
| Kite Realty Group Trust | 28757 | &nbsp;&nbsp; 636680 |
| Kiwi Property Group Ltd. | 201600 | &nbsp;&nbsp; 124610 |
| Klepierre SA | 27527 | &nbsp;&nbsp; 1051987 |
| Lendlease Global Commercial REIT | 239156 | &nbsp;&nbsp; 117578 |
| Link REIT | 343121 | &nbsp;&nbsp; 1786842 |
| Macerich Co. | 33139 | &nbsp;&nbsp; 568334 |
| Mercialys SA | 11732 | &nbsp;&nbsp; 143149 |
| NETSTREIT Corp. | 12465 | &nbsp;&nbsp; 232098 |
| NewRiver REIT PLC | 48949 | &nbsp;&nbsp; 45077 |
| NNN REIT, Inc. | 24804 | &nbsp;&nbsp; 1003570 |
| Phillips Edison & Co., Inc. | 16581 | &nbsp;&nbsp; 561101 |
| Primaris Real Estate Investment Trust | 15077 | &nbsp;&nbsp; 165330 |
| Realty Income Corp. | 119981 | &nbsp;&nbsp; 6956498 |
| Regency Centers Corp. | 23962 | &nbsp;&nbsp; 1652180 |
| Region Group | 160188 | &nbsp;&nbsp; 255856 |
| Retail Estates NV | 1419 | &nbsp;&nbsp; 102884 |
| RioCan Real Estate Investment Trust | 39378 | &nbsp;&nbsp; 526987 |
| Scentre Group | 690826 | &nbsp;&nbsp; 1840246 |
| Shaftesbury Capital PLC | 198040 | &nbsp;&nbsp; 365833 |
| Simon Property Group, Inc. | 42980 | &nbsp;&nbsp; 7554165 |
| SmartCentres Real Estate Investment Trust<sup>(a)</sup> | 16874 | &nbsp;&nbsp; 320023 |
| Starhill Global REIT | 190900 | &nbsp;&nbsp; 85122 |
| Supermarket Income REIT PLC | 166500 | &nbsp;&nbsp; 173257 |
| Tanger, Inc. | 14675 | &nbsp;&nbsp; 477818 |
| Unibail-Rodamco-Westfield | 13568 | &nbsp;&nbsp; 1402975 |
| Urban Edge Properties | 16463 | &nbsp;&nbsp; 316583 |
| Vastned NV | 997 | &nbsp;&nbsp; 34267 |
| Vicinity Ltd. | 508996 | &nbsp;&nbsp; 840896 |
| Waypoint REIT Ltd. | 83559 | &nbsp;&nbsp; 144916 |
| Wereldhave NV | 4643 | &nbsp;&nbsp; 98618 |
|  |  | &nbsp;&nbsp; 39603907 |
| **Specialized REITs — 16.7%** | **Specialized REITs — 16.7%** |  |
| Abacus Storage King | 54518 | &nbsp;&nbsp; 50080 |
| Arena REIT | 47341 | &nbsp;&nbsp; 113121 |
| Big Yellow Group PLC | 24215 | &nbsp;&nbsp; 354190 |
| Charter Hall Social Infrastructure REIT | 46577 | &nbsp;&nbsp; 98342 |
| CubeSmart | 30027 | &nbsp;&nbsp; 1131117 |
| DigiCo Infrastructure REIT | 47761 | &nbsp;&nbsp; 81174 |
| Digital Core REIT Management Pte Ltd. | 106900 | &nbsp;&nbsp; 55051 |
| Digital Realty Trust, Inc. | 44746 | &nbsp;&nbsp; 7625166 |
| EPR Properties | 9846 | &nbsp;&nbsp; 482651 |
| Equinix, Inc. | 12965 | &nbsp;&nbsp; 10968520 |
| Extra Space Storage, Inc. | 27946 | &nbsp;&nbsp; 3731909 |
| Four Corners Property Trust, Inc. | 12945 | &nbsp;&nbsp; 306020 |
| Gaming and Leisure Properties, Inc. | 36017 | &nbsp;&nbsp; 1608519 |
| Iron Mountain, Inc. | 38919 | &nbsp;&nbsp; 4006711 |
| Keppel DC REIT | 257215 | &nbsp;&nbsp; 471973 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Developed Real Estate Index Fund** 

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

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Specialized REITs (continued)** | **Specialized REITs (continued)** |  |
| National Storage Affiliates Trust | 9270 | &nbsp;&nbsp; $269664 |
| National Storage REIT | 156446 | &nbsp;&nbsp; 235416 |
| Public Storage | 20952 | &nbsp;&nbsp; 5836389 |
| Safehold, Inc. | 7799 | &nbsp;&nbsp; 112540 |
| Safestore Holdings PLC | 28081 | &nbsp;&nbsp; 263763 |
| Shurgard Self Storage Ltd. | 4357 | &nbsp;&nbsp; 159496 |
| VICI Properties, Inc. | 140101 | &nbsp;&nbsp; 4201629 |
|  |  | &nbsp;&nbsp; 42163441 |
| **Total Long-Term Investments — 96.9%** <br>**(Cost: $166,972,882)** | **Total Long-Term Investments — 96.9%** <br>**(Cost: $166,972,882)** | &nbsp;&nbsp; 245148540 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 2.0%** | **Money Market Funds — 2.0%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency Shares, <br> 4.27%<sup>(e)(f)(g)</sup><br>| 2900721 | &nbsp;&nbsp; 2902171 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.05%<sup>(e)(f)</sup><br>| 2241297 | &nbsp;&nbsp; 2241297 |
| **Total Short-Term Securities — 2.0%** <br>**(Cost: $5,143,485)** | **Total Short-Term Securities — 2.0%** <br>**(Cost: $5,143,485)** | &nbsp;&nbsp; 5143468 |
| **Total Investments — 98.9%** <br>**(Cost: $172,116,367)** | **Total Investments — 98.9%** <br>**(Cost: $172,116,367)** | &nbsp;&nbsp; 250292008 |
| **Other Assets Less Liabilities — 1.1%** | **Other Assets Less Liabilities — 1.1%** | &nbsp;&nbsp; 2687145 |
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $252979153 |

---

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

<sup>(a)</sup> All or a portion of this security is on loan.

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

<sup>(c)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

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

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

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

<sup>(g)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 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>*01/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/25*<br>| *Shares* <br>*Held at* <br>*10/31/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Cash Funds: Institutional, SL Agency Shares | $3484268 | $— | &nbsp;&nbsp; $(582101 )<sup>(a)</sup><br>| &nbsp;&nbsp; $(186)<br>| $190 | $2902171 | 2900721 | $7456 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 1573067 | 668230 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — |  | 2241297 | 2241297 | 56572 | &nbsp;&nbsp; — |
|  |  |  |  | &nbsp;&nbsp; $(186)<br>| $190 | $5143468 |  | $64028 | &nbsp;&nbsp; $— |

---

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

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

<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. 

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

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| &nbsp;&nbsp;&nbsp; *Expiration* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<br>| &nbsp;&nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| Long Contracts  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; SPI 200 Index | &nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 12/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; $436 | &nbsp;&nbsp;&nbsp;&nbsp; $(5623)<br>|
| &nbsp;&nbsp;&nbsp; Dow Jones U.S. Real Estate Index | &nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp; 12/19/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2702 | &nbsp;&nbsp;&nbsp;&nbsp; (58216)<br>|
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(63839)<br>|

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Developed Real Estate Index Fund** 

**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;&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;&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;&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.

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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diversified REITs | &nbsp;&nbsp; $4316684 | &nbsp;&nbsp;&nbsp;&nbsp; $12838034 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $17154718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care Providers & Services | &nbsp;&nbsp; 560922 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 560922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care REITs | &nbsp;&nbsp; 29613147 | &nbsp;&nbsp;&nbsp;&nbsp; 1643903 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 31257050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotel & Resort REITs | &nbsp;&nbsp; 3643437 | &nbsp;&nbsp;&nbsp;&nbsp; 1296732 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 4940169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Hotels, Restaurants & Leisure | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 52215 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 52215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrial REITs | &nbsp;&nbsp; 23350256 | &nbsp;&nbsp;&nbsp;&nbsp; 14371696 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 37721952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IT Services | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 924803 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 924803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Office REITs | &nbsp;&nbsp; 7745954 | &nbsp;&nbsp;&nbsp;&nbsp; 4921220 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 12667174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate Management & Development | &nbsp;&nbsp; 1921697 | &nbsp;&nbsp;&nbsp;&nbsp; 30485285 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 32406982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential REITs | &nbsp;&nbsp; 23960212 | &nbsp;&nbsp;&nbsp;&nbsp; 1593669 | &nbsp;&nbsp;&nbsp;&nbsp; 141326 | &nbsp;&nbsp;&nbsp;&nbsp; 25695207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Retail REITs | &nbsp;&nbsp; 28046377 | &nbsp;&nbsp;&nbsp;&nbsp; 11557530 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 39603907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Specialized REITs | &nbsp;&nbsp; 40544598 | &nbsp;&nbsp;&nbsp;&nbsp; 1618843 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 42163441 |
| &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; 5143468 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 5143468 |
|  | &nbsp;&nbsp; $168846752 | &nbsp;&nbsp;&nbsp;&nbsp; $81303930 | &nbsp;&nbsp;&nbsp;&nbsp; $141326 | &nbsp;&nbsp;&nbsp;&nbsp; $250292008 |
| Derivative Financial Instruments<sup>(a)</sup> <br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; $(63839)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(63839)<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**  |
| CVA | Certificaten Van Aandelen (Dutch Certificate) |
| REIT | Real Estate Investment Trust |
| SCA | Societe en Commandite par Actions |

---

------

## 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:** iShares Developed Real Estate Index Fund

- **b. EDGAR series identifier (if any):** S000050371

- **c. LEI of Series:** 549300CCO72SBIYZNP24

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $255480855.66

**Total Liabilities:** $6230818.30

**Net Assets:** $249250037.36

**Cash Not Reported:** $756037.81

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000159045 | 4.41%                | 1.06%                | -1.61%               |
| Class ID C000159046 | 4.52%                | 0.93%                | -1.55%               |
| Class ID C000159047 | 4.53%                | 0.94%                | -1.54%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $45388.27                | $10147510.64                               |
| Month 2  | $-41169.37               | $1421540.82                                |
| Month 3  | $-227426.41              | $-4062045.13                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Acadia Realty Trust                                          | Acadia Realty Trust                                          | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               |  | US        |     17056 | NS      | $325257.92    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                                            | Agree Realty Corp                                            | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               |  | US        |     14360 | NS      | $1048423.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| British Land Co PLC/The                                      | British Land Co PLC/The                                      | CUSIP: 000000000<br>LEI: RV5B68J2GV3QGMRPW209 | Long             | EC               |  | GB        |    127852 | NS      | $638551.38    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Alexander & Baldwin Inc                                      | Alexander & Baldwin Inc                                      | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               |  | US        |      9586 | NS      | $153088.42    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities Inc                          | Alexandria Real Estate Equities Inc                          | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               |  | US        |     22753 | NS      | $1324679.66   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Allied Properties Real Estate Investment Trust               | Allied Properties Real Estate Investment Trust               | CUSIP: 019456102<br>LEI: 549300AMZMPKVHA0MY77 | Long             | EC               |  | CA        |     16668 | NS      | $175646.53    | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| American Assets Trust Inc                                    | American Assets Trust Inc                                    | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               |  | US        |      7113 | NS      | $135929.43    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Derwent London PLC                                           | Derwent London PLC                                           | CUSIP: 000000000<br>LEI: 213800BXKQ9KZNUR1M61 | Long             | EC               |  | GB        |     13897 | NS      | $321791.27    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| American Homes 4 Rent                                        | American Homes 4 Rent                                        | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               |  | US        |     45322 | NS      | $1432175.20   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Big Yellow Group PLC                                         | Big Yellow Group PLC                                         | CUSIP: 000000000<br>LEI: 213800W7Q4V2ZI8LIW31 | Long             | EC               |  | GB        |     24215 | NS      | $354190.19    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Americold Realty Trust Inc                                   | Americold Realty Trust Inc                                   | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               |  | US        |     37698 | NS      | $485927.22    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Apartment Investment and Management Co                       | Apartment Investment and Management Co                       | CUSIP: 03748R747<br>LEI: 549300O8FT5GJ4RU1D57 | Long             | EC               |  | US        |     17834 | NS      | $94876.88     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc                                   | Apple Hospitality REIT Inc                                   | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               |  | US        |     28945 | NS      | $323894.55    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc                                    | AvalonBay Communities Inc                                    | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               |  | US        |     18865 | NS      | $3281000.80   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITE Group PLC/The                                          | UNITE Group PLC/The                                          | CUSIP: 000000000<br>LEI: 213800BBUUWVDH9YI827 | Long             | EC               |  | GB        |     55195 | NS      | $411711.47    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Boardwalk Real Estate Investment Trust                       | Boardwalk Real Estate Investment Trust                       | CUSIP: 096631106<br>LEI: 549300RMNRTTJRCOYW23 | Long             | EC               |  | CA        |      5346 | NS      | $246498.04    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                                                      | BXP Inc                                                      | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |     21010 | NS      | $1495701.90   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Brandywine Realty Trust                                      | Brandywine Realty Trust                                      | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Long             | EC               |  | US        |     23179 | NS      | $79503.97     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                                   | Brixmor Property Group Inc                                   | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               |  | US        |     40385 | NS      | $1056471.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc                                     | Broadstone Net Lease Inc                                     | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               |  | US        |     24954 | NS      | $447175.68    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                                        | Camden Property Trust                                        | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               |  | US        |     14257 | NS      | $1418286.36   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Apartment Properties REIT                           | Canadian Apartment Properties REIT                           | CUSIP: 134921105<br>LEI: 549300B1MYVTQEB2DI90 | Long             | EC               |  | CA        |     20671 | NS      | $568450.66    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc                                           | CareTrust REIT Inc                                           | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               |  | US        |     27983 | NS      | $969610.95    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Sila Realty Trust Inc                                        | Sila Realty Trust Inc                                        | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               |  | US        |      7465 | NS      | $176920.50    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerspace                                                  | Centerspace                                                  | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               |  | US        |      2312 | NS      | $136986.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chartwell Retirement Residences                              | Chartwell Retirement Residences                              | CUSIP: 16141A103<br>LEI: 549300M7UBEIZBWP4069 | Long             | EC               | CORP              | CA        |     38061 | NS      | $560921.80    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Choice Properties Real Estate Investment Trust               | Choice Properties Real Estate Investment Trust               | CUSIP: 17039A106<br>LEI: 5493007MYGFSLOZGT937 | Long             | EC               |  | CA        |     36102 | NS      | $381985.44    | 0.15%             |  |  |  | No            |                  1 | On Loan: —       |
| COPT Defense Properties                                      | COPT Defense Properties                                      | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               |  | US        |     15071 | NS      | $424550.07    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                                       | Cousins Properties Inc                                       | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               |  | US        |     21987 | NS      | $570122.91    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Crombie Real Estate Investment Trust                         | Crombie Real Estate Investment Trust                         | CUSIP: 227107109<br>LEI: 549300OGQML2MCFAPT83 | Long             | EC               |  | CA        |     14746 | NS      | $156969.65    | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| CubeSmart                                                    | CubeSmart                                                    | CUSIP: 229663109<br>LEI: 549300MPHKO3I3FJRA97 | Long             | EC               |  | US        |     30027 | NS      | $1131117.09   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Curbline Properties Corp                                     | Curbline Properties Corp                                     | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               |  | US        |     12653 | NS      | $291778.18    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co                                   | DiamondRock Hospitality Co                                   | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               |  | US        |     27269 | NS      | $213243.58    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                                     | Digital Realty Trust Inc                                     | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     44746 | NS      | $7625165.86   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                                           | Douglas Emmett Inc                                           | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               |  | US        |     19480 | NS      | $252071.20    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Dream Industrial Real Estate Investment Trust                | Dream Industrial Real Estate Investment Trust                | CUSIP: 26153W109<br>LEI: 549300QOI0TM3CBYUH79 | Long             | EC               |  | CA        |     38708 | NS      | $333663.48    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                                               | EPR Properties                                               | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               |  | US        |      9846 | NS      | $482650.92    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Easterly Government Properties Inc                           | Easterly Government Properties Inc                           | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               |  | US        |      5632 | NS      | $121763.84    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                                     | EastGroup Properties Inc                                     | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               |  | US        |      7023 | NS      | $1225724.19   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust Inc                                | Empire State Realty Trust Inc                                | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               |  | US        |     18784 | NS      | $138813.76    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                                                  | Equinix Inc                                                  | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |     12965 | NS      | $10968519.65  | 4.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                              | Equity LifeStyle Properties Inc                              | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |     25487 | NS      | $1555981.35   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                                           | Equity Residential                                           | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     50243 | NS      | $2986443.92   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust Inc                        | Essential Properties Realty Trust Inc                        | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               |  | US        |     26090 | NS      | $779569.20    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc                                     | Essex Property Trust Inc                                     | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |      8454 | NS      | $2128463.58   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                                      | Extra Space Storage Inc                                      | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27946 | NS      | $3731908.84   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trust                              | Federal Realty Investment Trust                              | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               |  | US        |     11284 | NS      | $1085407.96   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| First Capital Real Estate Investment Trust                   | First Capital Real Estate Investment Trust                   | CUSIP: 31890B103<br>LEI: 54930042UG2WCIIAQZ39 | Long             | EC               |  | CA        |     28566 | NS      | $383106.81    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust Inc                            | First Industrial Realty Trust Inc                            | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               |  | US        |     16977 | NS      | $938488.56    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc                              | Four Corners Property Trust Inc                              | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               |  | US        |     12945 | NS      | $306019.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc                            | Gaming and Leisure Properties Inc                            | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               |  | US        |     36017 | NS      | $1608519.22   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp                                            | Getty Realty Corp                                            | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               |  | US        |      6953 | NS      | $190720.79    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease Inc                                         | Global Net Lease Inc                                         | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               |  | US        |     26453 | NS      | $201571.86    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Granite Real Estate Investment Trust                         | Granite Real Estate Investment Trust                         | CUSIP: 387437205<br>LEI: 549300A6I7CLE0ZC0396 | Long             | EC               |  | CA        |      8034 | NS      | $451491.84    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc                                 | American Healthcare REIT Inc                                 | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               |  | US        |     20903 | NS      | $947323.96    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| H&R Real Estate Investment Trust                             | H&R Real Estate Investment Trust                             | CUSIP: 403925407<br>LEI: 549300TGNP6B6GUVGW10 | Long             | EC               |  | CA        |     34095 | NS      | $272021.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Cofinimmo SA                                                 | Cofinimmo SA                                                 | CUSIP: 000000000<br>LEI: 549300TM914CSF6KI389 | Long             | EC               |  | BE        |      5097 | NS      | $435262.47    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Healthcare Realty Trust Inc                                  | Healthcare Realty Trust Inc                                  | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               |  | US        |     43675 | NS      | $773921.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                                    | Healthpeak Properties Inc                                    | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               |  | US        |     91952 | NS      | $1650538.40   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc                                     | Highwoods Properties Inc                                     | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               |  | US        |     14151 | NS      | $405143.13    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                                    | Host Hotels & Resorts Inc                                    | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |     90966 | NS      | $1457275.32   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Hufvudstaden AB                                              | Hufvudstaden AB                                              | CUSIP: 000000000<br>LEI: 213800UEV5ZAFFVQ4J85 | Long             | EC               | CORP              | SE        |     13908 | NS      | $184853.74    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Independence Realty Trust Inc                                | Independence Realty Trust Inc                                | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               |  | US        |     30831 | NS      | $491137.83    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ICADE                                                        | ICADE                                                        | CUSIP: 000000000<br>LEI: 969500UDH342QLTE1M42 | Long             | EC               |  | FR        |      6193 | NS      | $150901.50    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Innovative Industrial Properties Inc                         | Innovative Industrial Properties Inc                         | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               |  | US        |      3798 | NS      | $190469.70    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| InterRent Real Estate Investment Trust                       | InterRent Real Estate Investment Trust                       | CUSIP: 46071W205<br>LEI: N/A                  | Long             | EC               |  | CA        |     18178 | NS      | $173413.88    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp                                   | InvenTrust Properties Corp                                   | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               |  | US        |     10163 | NS      | $278466.20    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                                         | Invitation Homes Inc                                         | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               |  | US        |     81166 | NS      | $2284822.90   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                                            | Iron Mountain Inc                                            | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     38919 | NS      | $4006711.05   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| JBG SMITH Properties                                         | JBG SMITH Properties                                         | CUSIP: 46590V100<br>LEI: N/A                  | Long             | EC               |  | US        |      8339 | NS      | $162527.11    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche EuroShop AG                                         | Deutsche EuroShop AG                                         | CUSIP: 000000000<br>LEI: 529900Y9QTEFHFEKQ736 | Long             | EC               | CORP              | DE        |      1283 | NS      | $27433.83     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Altarea SCA                                                  | Altarea SCA                                                  | CUSIP: 000000000<br>LEI: 969500ICGCY1PD6OT783 | Long             | EC               |  | FR        |       890 | NS      | $101519.61    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Kennedy-Wilson Holdings Inc                                  | Kennedy-Wilson Holdings Inc                                  | CUSIP: 489398107<br>LEI: 549300MOI1T78144X610 | Long             | EC               | CORP              | US        |     15076 | NS      | $113974.56    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Killam Apartment Real Estate Investment Trust                | Killam Apartment Real Estate Investment Trust                | CUSIP: 49410M102<br>LEI: 2549001RZSL75H60JE41 | Long             | EC               |  | CA        |     15886 | NS      | $196288.46    | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| Kilroy Realty Corp                                           | Kilroy Realty Corp                                           | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               |  | US        |     15743 | NS      | $665141.75    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                                            | Kimco Realty Corp                                            | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |     88642 | NS      | $1831343.72   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Wereldhave NV                                                | Wereldhave NV                                                | CUSIP: 000000000<br>LEI: 724500YRQCY3BD9RJZ92 | Long             | EC               |  | NL        |      4643 | NS      | $98618.25     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Kite Realty Group Trust                                      | Kite Realty Group Trust                                      | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               |  | US        |     28757 | NS      | $636679.98    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| LTC Properties Inc                                           | LTC Properties Inc                                           | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               |  | US        |      6023 | NS      | $211286.84    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                                         | LXP Industrial Trust                                         | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               |  | US        |     38954 | NS      | $369673.46    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                                                  | Lineage Inc                                                  | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               |  | US        |      9497 | NS      | $374181.80    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Retail Estates NV                                            | Retail Estates NV                                            | CUSIP: 000000000<br>LEI: 5493007CO5W5OBFG7L21 | Long             | EC               |  | BE        |      1419 | NS      | $102883.80    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Macerich Co/The                                              | Macerich Co/The                                              | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |     33139 | NS      | $568333.85    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Veris Residential Inc                                        | Veris Residential Inc                                        | CUSIP: 554489104<br>LEI: 254900KTVBRYJCQU2J23 | Long             | EC               |  | US        |     10678 | NS      | $153336.08    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CA Immobilien Anlagen AG                                     | CA Immobilien Anlagen AG                                     | CUSIP: 000000000<br>LEI: 5299003ICAPV07J0R180 | Long             | EC               | CORP              | AT        |      3812 | NS      | $105960.78    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| TAG Immobilien AG                                            | TAG Immobilien AG                                            | CUSIP: 000000000<br>LEI: 529900TAE68USJNXLR59 | Long             | EC               | CORP              | DE        |     22569 | NS      | $374666.04    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Medical Properties Trust Inc                                 | Medical Properties Trust Inc                                 | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               |  | US        |     65057 | NS      | $336344.69    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Vastned NV                                                   | Vastned NV                                                   | CUSIP: 000000000<br>LEI: 54930068RSC6OT68NE51 | Long             | EC               |  | BE        |       997 | NS      | $34267.09     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Allreal Holding AG                                           | Allreal Holding AG                                           | CUSIP: 000000000<br>LEI: 5067006XH174LA44H658 | Long             | EC               | CORP              | CH        |      1972 | NS      | $471325.09    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Mid-America Apartment Communities Inc                        | Mid-America Apartment Communities Inc                        | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |     15435 | NS      | $1979230.05   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Precinct Properties Group                                    | Precinct Properties Group                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | NZ        |    197437 | NS      | $140099.32    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BWP Property Group Ltd                                       | BWP Property Group Ltd                                       | CUSIP: 000000000<br>LEI: 529900PNX10I8B4V0N76 | Long             | EC               |  | AU        |     77654 | NS      | $195297.38    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Lifestyle Communities Ltd                                    | Lifestyle Communities Ltd                                    | CUSIP: 000000000<br>LEI: 984500BDEL5B024BCA39 | Long             | EC               | CORP              | AU        |     12054 | NS      | $40795.35     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Mirvac Group                                                 | Mirvac Group                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |    523876 | NS      | $788657.12    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| City Developments Ltd                                        | City Developments Ltd                                        | CUSIP: 000000000<br>LEI: 254900BPLPJS0RJ72373 | Long             | EC               | CORP              | SG        |     50900 | NS      | $282721.85    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| SUNeVision Holdings Ltd                                      | SUNeVision Holdings Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     73000 | NS      | $56701.87     | 0.02%             |  |  |  | No            |                  2 | On Loan: —       |
| Cromwell Property Group                                      | Cromwell Property Group                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |    225959 | NS      | $68733.12     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Hall Retail REIT                                     | Charter Hall Retail REIT                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     80579 | NS      | $217156.82    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Goodman Property Trust                                       | Goodman Property Trust                                       | CUSIP: 000000000<br>LEI: 213800EWCLT1H1U94486 | Long             | EC               |  | NZ        |    140455 | NS      | $170395.79    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors Inc                                | National Health Investors Inc                                | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               |  | US        |      6087 | NS      | $453542.37    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| GPT Group/The                                                | GPT Group/The                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |    254568 | NS      | $894170.29    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| NNN REIT Inc                                                 | NNN REIT Inc                                                 | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               |  | US        |     24804 | NS      | $1003569.84   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Trust                            | National Storage Affiliates Trust                            | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               |  | US        |      9270 | NS      | $269664.30    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Building Fund Inc                                     | Nippon Building Fund Inc                                     | CUSIP: 000000000<br>LEI: 52990053R8NL2MB32172 | Long             | EC               |  | JP        |      1048 | NS      | $967007.98    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Real Estate Investment Corp                            | Japan Real Estate Investment Corp                            | CUSIP: 000000000<br>LEI: 3538003YAIR3CBGJJ928 | Long             | EC               |  | JP        |       895 | NS      | $738171.56    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| NETSTREIT Corp                                               | NETSTREIT Corp                                               | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               |  | US        |     12465 | NS      | $232098.30    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Heiwa Real Estate Co Ltd                                     | Heiwa Real Estate Co Ltd                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5000 | NS      | $73178.02     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| CapitaLand Integrated Commercial Trust                       | CapitaLand Integrated Commercial Trust                       | CUSIP: 000000000<br>LEI: 54930031292WUTXF0L29 | Long             | EC               |  | SG        |    755413 | NS      | $1373332.82   | 0.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Henderson Land Development Co Ltd                            | Henderson Land Development Co Ltd                            | CUSIP: 000000000<br>LEI: 529900SYQB7IVR9QGN76 | Long             | EC               | CORP              | HK        |    175000 | NS      | $615606.42    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Hongkong Land Holdings Ltd                                   | Hongkong Land Holdings Ltd                                   | CUSIP: 000000000<br>LEI: 213800XCHYNRPAYGXW28 | Long             | EC               | CORP              | BM        |    133500 | NS      | $815727.32    | 0.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Hysan Development Co Ltd                                     | Hysan Development Co Ltd                                     | CUSIP: 000000000<br>LEI: 5299007BABFLKIH9HL03 | Long             | EC               | CORP              | HK        |     80000 | NS      | $165740.43    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Metropolitan Fund Invest                               | Japan Metropolitan Fund Invest                               | CUSIP: 000000000<br>LEI: 353800QDHNIP60E1LQ93 | Long             | EC               |  | JP        |       889 | NS      | $687705.44    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Orix JREIT Inc                                               | Orix JREIT Inc                                               | CUSIP: 000000000<br>LEI: 353800WVNTBIU65TA247 | Long             | EC               |  | JP        |       694 | NS      | $469754.72    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Prime Realty Investment Corp                           | Japan Prime Realty Investment Corp                           | CUSIP: 000000000<br>LEI: 353800NJOQJAY1ODEX72 | Long             | EC               |  | JP        |       479 | NS      | $325845.61    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| NexPoint Residential Trust Inc                               | NexPoint Residential Trust Inc                               | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               |  | US        |      3050 | NS      | $93543.50     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| NTT UD REIT Investment Corp                                  | NTT UD REIT Investment Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       176 | NS      | $155852.33    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| CapitaLand Ascendas REIT                                     | CapitaLand Ascendas REIT                                     | CUSIP: 000000000<br>LEI: 549300ILIBAEMQZK3L20 | Long             | EC               |  | SG        |    494359 | NS      | $1070303.19   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Melisron Ltd                                                 | Melisron Ltd                                                 | CUSIP: 000000000<br>LEI: 213800B9SL62L9VLO604 | Long             | EC               | CORP              | IL        |      3284 | NS      | $427462.09    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Estate Co Ltd                                     | Mitsubishi Estate Co Ltd                                     | CUSIP: 000000000<br>LEI: 353800KOFMRGOXSJ5Z65 | Long             | EC               | CORP              | JP        |    148600 | NS      | $3149112.83   | 1.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui Fudosan Co Ltd                                        | Mitsui Fudosan Co Ltd                                        | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |    346500 | NS      | $3607896.58   | 1.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Centuria Industrial REIT                                     | Centuria Industrial REIT                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     81077 | NS      | $187973.91    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Northwest Healthcare Properties Real Estate Investment Trust | Northwest Healthcare Properties Real Estate Investment Trust | CUSIP: 667495105<br>LEI: 254900P6YIXMWDQDD912 | Long             | EC               |  | CA        |     29836 | NS      | $107852.50    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyu REIT Inc                                               | Tokyu REIT Inc                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       120 | NS      | $154026.02    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Global One Real Estate Investment Corp                       | Global One Real Estate Investment Corp                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       127 | NS      | $116768.65    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| United Urban Investment Corp                                 | United Urban Investment Corp                                 | CUSIP: 000000000<br>LEI: 353800GYZWBD7BDCN841 | Long             | EC               |  | JP        |       403 | NS      | $487737.41    | 0.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Mori Trust Reit Inc                                          | Mori Trust Reit Inc                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       297 | NS      | $149770.44    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Hulic Co Ltd                                                 | Hulic Co Ltd                                                 | CUSIP: 000000000<br>LEI: 3538002E12E7IHAKTB10 | Long             | EC               | CORP              | JP        |     61600 | NS      | $636411.65    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Sino Land Co Ltd                                             | Sino Land Co Ltd                                             | CUSIP: 000000000<br>LEI: 529900G5P51053HJVZ92 | Long             | EC               | CORP              | HK        |    479405 | NS      | $595485.85    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Omega Healthcare Investors Inc                               | Omega Healthcare Investors Inc                               | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               |  | US        |     38094 | NS      | $1601090.82   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Stockland                                                    | Stockland                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |    310077 | NS      | $1281975.99   | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Realty & Development Co Ltd                         | Sumitomo Realty & Development Co Ltd                         | CUSIP: 000000000<br>LEI: 353800SO2DCLOI3LNZ64 | Long             | EC               | CORP              | JP        |     43200 | NS      | $1844509.82   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Sun Hung Kai Properties Ltd                                  | Sun Hung Kai Properties Ltd                                  | CUSIP: 000000000<br>LEI: 529900LUMD393RD3S874 | Long             | EC               | CORP              | HK        |    185000 | NS      | $2251225.05   | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Tokyo Tatemono Co Ltd                                        | Tokyo Tatemono Co Ltd                                        | CUSIP: 000000000<br>LEI: 529900RQA4JTW1869J86 | Long             | EC               | CORP              | JP        |     25500 | NS      | $476090.97    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| UOL Group Ltd                                                | UOL Group Ltd                                                | CUSIP: 000000000<br>LEI: 254900O9PRCWTMR86R25 | Long             | EC               | CORP              | SG        |     60800 | NS      | $371440.03    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Paramount Group Inc                                          | Paramount Group Inc                                          | CUSIP: 69924R108<br>LEI: 5493006GJU1CFI7Z5J17 | Long             | EC               |  | US        |     25213 | NS      | $164893.02    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc                                    | Park Hotels & Resorts Inc                                    | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               |  | US        |     25837 | NS      | $265862.73    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                                      | Pebblebrook Hotel Trust                                      | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               |  | US        |     15798 | NS      | $165247.08    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc                                     | Phillips Edison & Co Inc                                     | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               |  | US        |     16581 | NS      | $561101.04    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Realty Trust Inc                                    | Piedmont Realty Trust Inc                                    | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               |  | US        |     16986 | NS      | $136907.16    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Primaris Real Estate Investment Trust                        | Primaris Real Estate Investment Trust                        | CUSIP: 74167K109<br>LEI: 549300WUM45OXSEVOT03 | Long             | EC               |  | CA        |     15077 | NS      | $165330.48    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                                                 | Prologis Inc                                                 | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |    123055 | NS      | $15269894.95  | 6.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                               | Public Storage                                               | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |     20952 | NS      | $5836389.12   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                                            | RLJ Lodging Trust                                            | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               |  | US        |     19907 | NS      | $135367.60    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                                           | Realty Income Corp                                           | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |    119981 | NS      | $6956498.38   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Klepierre SA                                                 | Klepierre SA                                                 | CUSIP: 000000000<br>LEI: 969500PB4U31KEFHZ621 | Long             | EC               |  | FR        |     27527 | NS      | $1051986.87   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Regency Centers Corp                                         | Regency Centers Corp                                         | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     23962 | NS      | $1652179.90   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                                | Rexford Industrial Realty Inc                                | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               |  | US        |     31438 | NS      | $1299018.16   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| RioCan Real Estate Investment Trust                          | RioCan Real Estate Investment Trust                          | CUSIP: 766910103<br>LEI: 549300S8HVUSEU3JBY60 | Long             | EC               |  | CA        |     39378 | NS      | $526986.60    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Gecina SA                                                    | Gecina SA                                                    | CUSIP: 000000000<br>LEI: 9695003E4MMA10IBTR26 | Long             | EC               |  | FR        |      6856 | NS      | $637136.91    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Covivio SA/France                                            | Covivio SA/France                                            | CUSIP: 000000000<br>LEI: 969500P8M3W2XX376054 | Long             | EC               |  | FR        |      7153 | NS      | $458921.03    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryman Hospitality Properties Inc                             | Ryman Hospitality Properties Inc                             | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               |  | US        |      8024 | NS      | $697365.84    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp                                         | SL Green Realty Corp                                         | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               |  | US        |      9391 | NS      | $482227.85    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc                                   | Sabra Health Care REIT Inc                                   | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               |  | US        |     31057 | NS      | $553435.74    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Safehold Inc                                                 | Safehold Inc                                                 | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               |  | US        |      7799 | NS      | $112539.57    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                                     | Simon Property Group Inc                                     | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               |  | US        |     42980 | NS      | $7554164.80   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SmartCentres Real Estate Investment Trust                    | SmartCentres Real Estate Investment Trust                    | CUSIP: 83179X108<br>LEI: 549300HKEP2IYWZ14H97 | Long             | EC               |  | CA        |     16874 | NS      | $320023.10    | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| STAG Industrial Inc                                          | STAG Industrial Inc                                          | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               |  | US        |     24761 | NS      | $947603.47    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| StorageVault Canada Inc                                      | StorageVault Canada Inc                                      | CUSIP: 86212H105<br>LEI: 254900A6LDI0HRL1VD69 | Long             | EC               | CORP              | CA        |     28143 | NS      | $99324.69     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                                          | Sun Communities Inc                                          | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               |  | US        |     16761 | NS      | $2121942.60   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc                                 | Sunstone Hotel Investors Inc                                 | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               |  | US        |     25044 | NS      | $221639.40    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc                                                   | Tanger Inc                                                   | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               |  | US        |     14675 | NS      | $477818.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp                                          | Terreno Realty Corp                                          | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               |  | US        |     13474 | NS      | $769769.62    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                                                      | UDR Inc                                                      | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               |  | US        |     43824 | NS      | $1476430.56   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties Inc                                           | UMH Properties Inc                                           | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               |  | US        |     10766 | NS      | $156537.64    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                                        | Urban Edge Properties                                        | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               |  | US        |     16463 | NS      | $316583.49    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                                                   | Ventas Inc                                                   | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               |  | US        |     60095 | NS      | $4434410.05   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                                          | VICI Properties Inc                                          | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |    140101 | NS      | $4201628.99   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                                         | Vornado Realty Trust                                         | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               |  | US        |     23395 | NS      | $887606.30    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey Inc                                                 | WP Carey Inc                                                 | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               |  | US        |     28753 | NS      | $1897698.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| New World Development Co Ltd                                 | New World Development Co Ltd                                 | CUSIP: 000000000<br>LEI: 2549008GWMWXTIRL4S48 | Long             | EC               | CORP              | HK        |    177507 | NS      | $164306.42    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Elme Communities                                             | Elme Communities                                             | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               |  | US        |     11694 | NS      | $192366.30    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                                                | Welltower Inc                                                | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               |  | US        |     88777 | NS      | $16072188.08  | 6.45%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Funds III                                          | BlackRock Cash Funds: Institutional, SL Agency Shares        | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |   3040431 | NS      | $3041951.48   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES               | BlackRock Cash Funds: Treasury, SL Agency Shares             | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |   2241297 | NS      | $2241296.96   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts Inc                                   | Xenia Hotels & Resorts Inc                                   | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               |  | US        |     13296 | NS      | $163540.80    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Mapletree Industrial Trust                                   | Mapletree Industrial Trust                                   | CUSIP: 000000000<br>LEI: 549300R7WZFHXNKDJF41 | Long             | EC               |  | SG        |    274710 | NS      | $449264.61    | 0.18%             |  |  |  | No            |                  2 | On Loan: —       |
| Mapletree Pan Asia Commercial Trust                          | Mapletree Pan Asia Commercial Trust                          | CUSIP: 000000000<br>LEI: 549300BF18K4IC5LZ208 | Long             | EC               |  | SG        |    290047 | NS      | $320897.47    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Argosy Property Ltd                                          | Argosy Property Ltd                                          | CUSIP: 000000000<br>LEI: 9845005EAC0D08F77F73 | Long             | EC               |  | NZ        |    114810 | NS      | $84345.49     | 0.03%             |  |  |  | No            |                  2 | On Loan: —       |
| Empiric Student Property PLC                                 | Empiric Student Property PLC                                 | CUSIP: 000000000<br>LEI: 213800FPF38IBPRFPU87 | Long             | EC               |  | GB        |     94853 | NS      | $97069.91     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Keppel DC REIT                                               | Keppel DC REIT                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | SG        |    257215 | NS      | $471972.53    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Real Estate Master Fund Inc                           | Nomura Real Estate Master Fund Inc                           | CUSIP: 000000000<br>LEI: 353800TNNZOQ1CPZE086 | Long             | EC               |  | JP        |       543 | NS      | $579377.44    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| LaSalle Logiport REIT                                        | LaSalle Logiport REIT                                        | CUSIP: 000000000<br>LEI: 353800II3DI1RPKBB314 | Long             | EC               |  | JP        |       213 | NS      | $206245.54    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Frasers Logistics & Commercial Trust                         | Frasers Logistics & Commercial Trust                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | SG        |    393100 | NS      | $288271.62    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| NewRiver REIT PLC                                            | NewRiver REIT PLC                                            | CUSIP: 000000000<br>LEI: 2138004GX1VAUMH66L31 | Long             | EC               |  | GB        |     48949 | NS      | $45077.30     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Aroundtown SA                                                | Aroundtown SA                                                | CUSIP: 000000000<br>LEI: 529900H4DWG3KWMBMQ39 | Long             | EC               | CORP              | LU        |     92684 | NS      | $331203.27    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Corem Property Group AB                                      | Corem Property Group AB                                      | CUSIP: 000000000<br>LEI: 213800CHXQQD7TSS1T59 | Long             | EC               | CORP              | SE        |     97451 | NS      | $39630.87     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Cibus Nordic Real Estate AB publ                             | Cibus Nordic Real Estate AB publ                             | CUSIP: 000000000<br>LEI: 549300PW36MFK96GCR23 | Long             | EC               | CORP              | SE        |      9940 | NS      | $172323.68    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Citycon Oyj                                                  | Citycon Oyj                                                  | CUSIP: 000000000<br>LEI: 549300P8N0P6KDGTJ206 | Long             | EC               | CORP              | FI        |     10141 | NS      | $34433.03     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| FastPartner AB                                               | FastPartner AB                                               | CUSIP: 000000000<br>LEI: 549300BG6SL5QQ7LQW56 | Long             | EC               | CORP              | SE        |      6797 | NS      | $35987.38     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Warehouses De Pauw CVA                                       | Warehouses De Pauw CVA                                       | CUSIP: 000000000<br>LEI: 549300HWDYC5JXC85138 | Long             | EC               |  | BE        |     24768 | NS      | $628975.41    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Waypoint REIT Ltd                                            | Waypoint REIT Ltd                                            | CUSIP: 000000000<br>LEI: 5493003CS5K82RREKA54 | Long             | EC               |  | AU        |     83559 | NS      | $144915.66    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Reit PLC                                                | Home Reit PLC                                                | CUSIP: 000000000<br>LEI: 213800A53AOVH3FCGG44 | Long             | EC               |  | GB        |   1048527 | NS      | $141326.32    | 0.06%             |  |  |  | No            |                  3 | On Loan: No      |
| Hamborner REIT AG                                            | Hamborner REIT AG                                            | CUSIP: 000000000<br>LEI: 529900EJTD8IR1GN0P96 | Long             | EC               |  | DE        |      8338 | NS      | $49918.33     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Digital Core REIT Management Pte Ltd                         | Digital Core REIT Management Pte Ltd                         | CUSIP: 000000000<br>LEI: 254900RTT7SLEEJYGV92 | Long             | EC               |  | SG        |    106900 | NS      | $55051.26     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Heba Fastighets AB                                           | Heba Fastighets AB                                           | CUSIP: 000000000<br>LEI: 549300B1UZTBDU27UJ88 | Long             | EC               | CORP              | SE        |      9372 | NS      | $32246.87     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Fastighets AB Balder                                         | Fastighets AB Balder                                         | CUSIP: 000000000<br>LEI: 549300GHKJCEZOAEUU82 | Long             | EC               | CORP              | SE        |     91860 | NS      | $673780.93    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Invest Belgium SA                                       | Home Invest Belgium SA                                       | CUSIP: 000000000<br>LEI: 54930090SCENRBKUJO67 | Long             | EC               |  | BE        |      1348 | NS      | $29118.40     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Intershop Holding AG                                         | Intershop Holding AG                                         | CUSIP: 000000000<br>LEI: 506700CGX4K77JX3R725 | Long             | EC               | CORP              | CH        |       741 | NS      | $145252.08    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Public Property Invest AS                                    | Public Property Invest AS                                    | CUSIP: 000000000<br>LEI: 254900QSCB9T0W2KE886 | Long             | EC               | CORP              | NO        |     27127 | NS      | $59834.48     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Regional REIT Ltd                                            | Regional REIT Ltd                                            | CUSIP: 000000000<br>LEI: 549300D8G4NKLRIKBX73 | Long             | EC               |  | GG        |     18818 | NS      | $26253.92     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ESR-REIT                                                     | ESR-REIT                                                     | CUSIP: 000000000<br>LEI: 5493008PFX3JN1RMMD48 | Long             | EC               |  | SG        |     82123 | NS      | $180394.88    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| ASX Clear (Futures)                                          | SPI 200 FUTURES DEC25                                        | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DE               |  | AU        |         2 | NC      | $-5114.61     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                       | DJ US REAL ESTATE DEC25                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DE               |  | US        |        56 | NC      | $-59576.05    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Invincible Investment Corp                                   | Invincible Investment Corp                                   | CUSIP: 000000000<br>LEI: 353800JY6M2692VAV685 | Long             | EC               |  | JP        |       965 | NS      | $431155.77    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| PSP Swiss Property AG                                        | PSP Swiss Property AG                                        | CUSIP: 000000000<br>LEI: 50670042Y437P8X44F56 | Long             | EC               | CORP              | CH        |      6059 | NS      | $1047986.78   | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Schroder Real Estate Investment Trust Ltd                    | Schroder Real Estate Investment Trust Ltd                    | CUSIP: 000000000<br>LEI: 549300ZIJJTMTIIQJP67 | Long             | EC               |  | GG        |     72307 | NS      | $51769.38     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Real Estate Investment Corp                         | Frontier Real Estate Investment Corp                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       338 | NS      | $198533.35    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Dexus                                                        | Dexus                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |    139833 | NS      | $666691.76    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Goodman Group                                                | Goodman Group                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |    263218 | NS      | $5677131.75   | 2.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Suntec Real Estate Investment Trust                          | Suntec Real Estate Investment Trust                          | CUSIP: 000000000<br>LEI: 549300C46QFXSI2F4K13 | Long             | EC               |  | SG        |    281900 | NS      | $290211.24    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Grainger PLC                                                 | Grainger PLC                                                 | CUSIP: 000000000<br>LEI: 2138007CEIRKZMNI2979 | Long             | EC               |  | GB        |     93178 | NS      | $229577.50    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Heiwa Real Estate REIT Inc                                   | Heiwa Real Estate REIT Inc                                   | CUSIP: 000000000<br>LEI: 3538003GH25628YW4R98 | Long             | EC               |  | JP        |       129 | NS      | $129162.62    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Logistics Fund Inc                                     | Japan Logistics Fund Inc                                     | CUSIP: 000000000<br>LEI: 3538004KZWISCQO70151 | Long             | EC               |  | JP        |       331 | NS      | $214317.11    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Swiss Prime Site AG                                          | Swiss Prime Site AG                                          | CUSIP: 000000000<br>LEI: 506700XI9H64OPR34158 | Long             | EC               | CORP              | CH        |     10271 | NS      | $1459949.69   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Fukuoka REIT Corp                                            | Fukuoka REIT Corp                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       101 | NS      | $123862.85    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Mobimo Holding AG                                            | Mobimo Holding AG                                            | CUSIP: 000000000<br>LEI: 50670018HN8O1GD3O385 | Long             | EC               | CORP              | CH        |       946 | NS      | $400992.33    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| KDX Realty Investment Corp                                   | KDX Realty Investment Corp                                   | CUSIP: 000000000<br>LEI: 353800FFT483NCIHFY42 | Long             | EC               |  | JP        |       491 | NS      | $543613.35    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Mapletree Logistics Trust                                    | Mapletree Logistics Trust                                    | CUSIP: 000000000<br>LEI: 549300M9EBZIYH387075 | Long             | EC               |  | SG        |    448609 | NS      | $461645.75    | 0.19%             |  |  |  | No            |                  2 | On Loan: —       |
| Helical PLC                                                  | Helical PLC                                                  | CUSIP: 000000000<br>LEI: 2138003SBD2Z7WV2MP70 | Long             | EC               |  | GB        |     14789 | NS      | $40531.88     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Starhill Global REIT                                         | Starhill Global REIT                                         | CUSIP: 000000000<br>LEI: 549300GCJNC7HDN3YK51 | Long             | EC               |  | SG        |    190900 | NS      | $85121.66     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Picton Property Income Ltd                                   | Picton Property Income Ltd                                   | CUSIP: 000000000<br>LEI: 213800RYE59K9CKR4497 | Long             | EC               |  | GG        |     65574 | NS      | $67278.88     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hankyu Hanshin REIT Inc                                      | Hankyu Hanshin REIT Inc                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        83 | NS      | $95463.86     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercialys SA                                                 | Mercialys SA                                                 | CUSIP: 000000000<br>LEI: 969500081CGAXB7YS433 | Long             | EC               |  | FR        |     11732 | NS      | $143149.29    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Ichigo Office REIT Investment Corp                           | Ichigo Office REIT Investment Corp                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       118 | NS      | $72676.91     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Daiwa Office Investment Corp                                 | Daiwa Office Investment Corp                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        66 | NS      | $161456.10    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Starts Proceed Investment Corp                               | Starts Proceed Investment Corp                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        26 | NS      | $34128.73     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Link REIT                                                    | Link REIT                                                    | CUSIP: 000000000<br>LEI: 529900XUE70U36QX5M62 | Long             | EC               |  | HK        |    343121 | NS      | $1786842.12   | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Prosperity REIT                                              | Prosperity REIT                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | HK        |    227000 | NS      | $40898.01     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Castellum AB                                                 | Castellum AB                                                 | CUSIP: 000000000<br>LEI: 549300GU5OHTR1T5IY68 | Long             | EC               | CORP              | SE        |     45490 | NS      | $517322.38    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Wohnen SE                                           | Deutsche Wohnen SE                                           | CUSIP: 000000000<br>LEI: 529900QE24Q67I3FWZ10 | Long             | EC               | CORP              | DE        |      6666 | NS      | $166135.13    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Daiwa House REIT Investment Corp                             | Daiwa House REIT Investment Corp                             | CUSIP: 000000000<br>LEI: 3538001FWU534P8JMO05 | Long             | EC               |  | JP        |       547 | NS      | $471376.63    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Keppel REIT                                                  | Keppel REIT                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | SG        |    324600 | NS      | $261919.73    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Catena AB                                                    | Catena AB                                                    | CUSIP: 000000000<br>LEI: 549300EMLM7AH5LDLY65 | Long             | EC               | CORP              | SE        |      5434 | NS      | $263285.02    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Dios Fastigheter AB                                          | Dios Fastigheter AB                                          | CUSIP: 000000000<br>LEI: 549300G3VF7LZQ9IW435 | Long             | EC               | CORP              | SE        |     14515 | NS      | $98920.37     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Champion REIT                                                | Champion REIT                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | HK        |    281000 | NS      | $75475.60     | 0.03%             |  |  |  | No            |                  2 | On Loan: —       |
| Japan Hotel REIT Investment Corp                             | Japan Hotel REIT Investment Corp                             | CUSIP: 000000000<br>LEI: 353800L8KG849FP1JI68 | Long             | EC               |  | JP        |       646 | NS      | $376323.37    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Hall Group                                           | Charter Hall Group                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     61357 | NS      | $901132.15    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Excellent Inc                                          | Japan Excellent Inc                                          | CUSIP: 000000000<br>LEI: 35380015J62221TE0D86 | Long             | EC               |  | JP        |       152 | NS      | $145085.98    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa Securities Living Investments Corp                     | Daiwa Securities Living Investments Corp                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       270 | NS      | $193435.18    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Frasers Centrepoint Trust                                    | Frasers Centrepoint Trust                                    | CUSIP: 000000000<br>LEI: 5493002RGQ266FKERZ83 | Long             | EC               |  | SG        |    173970 | NS      | $312743.15    | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui Fudosan Accommodations Fund Inc                       | Mitsui Fudosan Accommodations Fund Inc                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       300 | NS      | $252819.67    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Amot Investments Ltd                                         | Amot Investments Ltd                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     31706 | NS      | $250317.12    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| CDL Hospitality Trusts                                       | CDL Hospitality Trusts                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | SG        |     98554 | NS      | $62439.37     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Real Estate Holdings Inc                              | Nomura Real Estate Holdings Inc                              | CUSIP: 000000000<br>LEI: 353800UZ91CT24OL9P59 | Long             | EC               | CORP              | JP        |     69300 | NS      | $395763.33    | 0.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Montea NV                                                    | Montea NV                                                    | CUSIP: 000000000<br>LEI: 5493006K5LQDD0GK1T60 | Long             | EC               |  | BE        |      2774 | NS      | $224023.03    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Aedifica SA                                                  | Aedifica SA                                                  | CUSIP: 000000000<br>LEI: 529900DTKNXL0AXQFN28 | Long             | EC               |  | BE        |      6337 | NS      | $462781.07    | 0.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Mori Hills REIT Investment Corp                              | Mori Hills REIT Investment Corp                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       190 | NS      | $180226.79    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Sunlight Real Estate Investment Trust                        | Sunlight Real Estate Investment Trust                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | HK        |    171000 | NS      | $51900.42     | 0.02%             |  |  |  | No            |                  2 | On Loan: —       |
| Safestore Holdings PLC                                       | Safestore Holdings PLC                                       | CUSIP: 000000000<br>LEI: 213800WGA3YSJC1YOH73 | Long             | EC               |  | GB        |     28081 | NS      | $263763.50    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascencio                                                     | Ascencio                                                     | CUSIP: 000000000<br>LEI: 549300PHFI20T3WJRO63 | Long             | EC               |  | BE        |       745 | NS      | $43191.02     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Sirius Real Estate Ltd                                       | Sirius Real Estate Ltd                                       | CUSIP: 000000000<br>LEI: 213800NURUF5W8QSK566 | Long             | EC               |  | GG        |    195632 | NS      | $256616.19    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Growthpoint Properties Australia Ltd                         | Growthpoint Properties Australia Ltd                         | CUSIP: 000000000<br>LEI: 529900VCPJ9IEDF4TJ03 | Long             | EC               |  | AU        |     38160 | NS      | $63927.69     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| ARGAN SA                                                     | ARGAN SA                                                     | CUSIP: 000000000<br>LEI: 529900FXM41XSCUSGH04 | Long             | EC               |  | FR        |      2225 | NS      | $173163.31    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| PPHE Hotel Group Ltd                                         | PPHE Hotel Group Ltd                                         | CUSIP: 000000000<br>LEI: 2138003H1BZGR6KM5823 | Long             | EC               | CORP              | GG        |      2777 | NS      | $52214.73     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Parkway Life Real Estate Investment Trust                    | Parkway Life Real Estate Investment Trust                    | CUSIP: 000000000<br>LEI: 549300I4DKVD2OF5LW91 | Long             | EC               |  | SG        |     55900 | NS      | $176061.42    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Industrial & Infrastructure Fund Investment Corp             | Industrial & Infrastructure Fund Investment Corp             | CUSIP: 000000000<br>LEI: 353800WCHFY04YKYCI19 | Long             | EC               |  | JP        |       320 | NS      | $297313.05    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| VGP NV                                                       | VGP NV                                                       | CUSIP: 000000000<br>LEI: 315700NENYPIXFR94T49 | Long             | EC               | CORP              | BE        |      1793 | NS      | $207138.37    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Peach Property Group AG                                      | Peach Property Group AG                                      | CUSIP: 000000000<br>LEI: 506700A49L5C69NZ5J96 | Long             | EC               | CORP              | CH        |      5283 | NS      | $40438.99     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| LondonMetric Property PLC                                    | LondonMetric Property PLC                                    | CUSIP: 000000000<br>LEI: 213800OCERWWPQDURL87 | Long             | EC               |  | GB        |    295138 | NS      | $738377.54    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Carmila SA                                                   | Carmila SA                                                   | CUSIP: 000000000<br>LEI: 222100P6D3QKU33LZQ72 | Long             | EC               |  | FR        |      8577 | NS      | $156363.87    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| AIMS APAC REIT                                               | AIMS APAC REIT                                               | CUSIP: 000000000<br>LEI: 549300MGNQOBQ3KVN734 | Long             | EC               |  | SG        |     81232 | NS      | $86126.77     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| NEXTDC Ltd                                                   | NEXTDC Ltd                                                   | CUSIP: 000000000<br>LEI: 529900RTERU3X7G3D672 | Long             | EC               | CORP              | AU        |     84438 | NS      | $868101.57    | 0.35%             |  |  |  | No            |                  2 | On Loan: —       |
| Azrieli Group Ltd                                            | Azrieli Group Ltd                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |      4858 | NS      | $512529.04    | 0.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortune Real Estate Investment Trust                         | Fortune Real Estate Investment Trust                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | HK        |    218000 | NS      | $140822.32    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Segro PLC                                                    | Segro PLC                                                    | CUSIP: 000000000<br>LEI: 213800XC35KGM9NFC641 | Long             | EC               |  | GB        |    178946 | NS      | $1642073.43   | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Shaftesbury Capital PLC                                      | Shaftesbury Capital PLC                                      | CUSIP: 000000000<br>LEI: 549300TTXXZ1SHUI0D54 | Long             | EC               |  | GB        |    198040 | NS      | $365832.68    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Advance Residence Investment Corp                            | Advance Residence Investment Corp                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       348 | NS      | $376655.64    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Swire Properties Ltd                                         | Swire Properties Ltd                                         | CUSIP: 000000000<br>LEI: 5299001L12PHYVQ92465 | Long             | EC               | CORP              | HK        |    126000 | NS      | $343258.58    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Workspace Group PLC                                          | Workspace Group PLC                                          | CUSIP: 000000000<br>LEI: 2138003GUZRFIN3UT430 | Long             | EC               |  | GB        |     18672 | NS      | $102532.89    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingenia Communities Group                                    | Ingenia Communities Group                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     54342 | NS      | $199703.83    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Activia Properties Inc                                       | Activia Properties Inc                                       | CUSIP: 000000000<br>LEI: 353800RPGYN3ML8CXV54 | Long             | EC               |  | JP        |       268 | NS      | $245211.53    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Far East Hospitality Trust                                   | Far East Hospitality Trust                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | SG        |    126300 | NS      | $58673.70     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Grand City Properties SA                                     | Grand City Properties SA                                     | CUSIP: 000000000<br>LEI: 5299002QLUYKK2WBMB18 | Long             | EC               | CORP              | LU        |      8570 | NS      | $109124.26    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Comforia Residential REIT Inc                                | Comforia Residential REIT Inc                                | CUSIP: 000000000<br>LEI: 353800BJ2SV3UPG9JU05 | Long             | EC               |  | JP        |        85 | NS      | $179255.08    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| GLP J-Reit                                                   | GLP J-Reit                                                   | CUSIP: 000000000<br>LEI: 353800E27V9KA51K2I90 | Long             | EC               |  | JP        |       578 | NS      | $523954.32    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Prologis REIT Inc                                     | Nippon Prologis REIT Inc                                     | CUSIP: 000000000<br>LEI: 353800PHBMSDLAFURY41 | Long             | EC               |  | JP        |       952 | NS      | $553709.76    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Arena REIT                                                   | Arena REIT                                                   | CUSIP: 000000000<br>LEI: 984500FEAC9A1C1FC967 | Long             | EC               |  | AU        |     47341 | NS      | $113121.14    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| LEG Immobilien SE                                            | LEG Immobilien SE                                            | CUSIP: 000000000<br>LEI: 391200SO40AKONBO0Z96 | Long             | EC               | CORP              | DE        |      9936 | NS      | $757264.54    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Neobo Fastigheter AB                                         | Neobo Fastigheter AB                                         | CUSIP: 000000000<br>LEI: 213800QBPS3L89U9TZ44 | Long             | EC               | CORP              | SE        |     15518 | NS      | $31188.40     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Sagax AB                                                     | Sagax AB                                                     | CUSIP: 000000000<br>LEI: 549300LJX28T6OM8DT95 | Long             | EC               | CORP              | SE        |     28289 | NS      | $634824.52    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Hoshino Resorts REIT Inc                                     | Hoshino Resorts REIT Inc                                     | CUSIP: 000000000<br>LEI: 353800DF2MUZWFL4IL56 | Long             | EC               |  | JP        |        74 | NS      | $123658.73    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Vonovia SE                                                   | Vonovia SE                                                   | CUSIP: 000000000<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | EC               | CORP              | DE        |     93081 | NS      | $2797619.18   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Colonial SFL Socimi SA                                       | Colonial SFL Socimi SA                                       | CUSIP: 000000000<br>LEI: 95980020140005007414 | Long             | EC               |  | ES        |     48575 | NS      | $307371.25    | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Stride Property Group                                        | Stride Property Group                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | NZ        |     78670 | NS      | $66177.79     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Samhallsbyggnadsbolaget i Norden AB                          | Samhallsbyggnadsbolaget i Norden AB                          | CUSIP: 000000000<br>LEI: 549300HX9MRFY47AH564 | Long             | EC               | CORP              | SE        |    130539 | NS      | $71663.82     | 0.03%             |  |  |  | No            |                  2 | On Loan: —       |
| Abrdn European Logistics Income PLC                          | Abrdn European Logistics Income PLC                          | CUSIP: 000000000<br>LEI: 213800I9IYIKKNRT3G50 | Long             | EC               |  | GB        |     53468 | NS      | $25001.27     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Charter Hall Long Wale REIT                                  | Charter Hall Long Wale REIT                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     87554 | NS      | $243587.46    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| One REIT Inc                                                 | One REIT Inc                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        99 | NS      | $57356.64     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| PRS REIT Plc/The                                             | PRS REIT Plc/The                                             | CUSIP: 000000000<br>LEI: 21380037Q91HU97WZX58 | Long             | EC               |  | GB        |     71922 | NS      | $105409.46    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Wharf Real Estate Investment Co Ltd                          | Wharf Real Estate Investment Co Ltd                          | CUSIP: 000000000<br>LEI: 529900QLPKS8U9QOPB59 | Long             | EC               | CORP              | KY        |    206000 | NS      | $586321.06    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Social Housing Reit PLC                                      | Social Housing Reit PLC                                      | CUSIP: 000000000<br>LEI: 213800BERVBS2HFTBC58 | Long             | EC               |  | GB        |     46231 | NS      | $41298.88     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Immobiliare Grande Distribuzione SIIQ SpA                    | Immobiliare Grande Distribuzione SIIQ SpA                    | CUSIP: 000000000<br>LEI: 815600CF8C0389D0E272 | Long             | EC               |  | IT        |      6838 | NS      | $27719.27     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Unibail-Rodamco-Westfield                                    | Unibail-Rodamco-Westfield                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | XX        |     13568 | NS      | $1402974.79   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Supermarket Income Reit PLC                                  | Supermarket Income Reit PLC                                  | CUSIP: 000000000<br>LEI: 2138007FOINJKAM7L537 | Long             | EC               |  | GB        |    166500 | NS      | $173257.25    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsubishi Estate Logistics REIT Investment Corp             | Mitsubishi Estate Logistics REIT Investment Corp             | CUSIP: 000000000<br>LEI: 353800YYSGZU31ICQK38 | Long             | EC               |  | JP        |       180 | NS      | $144210.81    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Great Portland Estates PLC                                   | Great Portland Estates PLC                                   | CUSIP: 000000000<br>LEI: 213800JMEDD2Q4N1MC42 | Long             | EC               |  | GB        |     51546 | NS      | $225647.46    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Nyfosa AB                                                    | Nyfosa AB                                                    | CUSIP: 000000000<br>LEI: 5493000YR2B83SILCJ50 | Long             | EC               | CORP              | SE        |     21841 | NS      | $185788.15    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Fabege AB                                                    | Fabege AB                                                    | CUSIP: 000000000<br>LEI: 549300JNPI46XNH0PM97 | Long             | EC               | CORP              | SE        |     24312 | NS      | $214067.92    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AEON REIT Investment Corp                                    | AEON REIT Investment Corp                                    | CUSIP: 000000000<br>LEI: 353800P59F8MJB4FE788 | Long             | EC               |  | JP        |       231 | NS      | $195570.63    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| CRE Logistics REIT Inc                                       | CRE Logistics REIT Inc                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        75 | NS      | $76417.08     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Kojamo Oyj                                                   | Kojamo Oyj                                                   | CUSIP: 000000000<br>LEI: 7437007YPUOQZ8OV1R42 | Long             | EC               | CORP              | FI        |     20168 | NS      | $244322.25    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| CapitaLand Ascott Trust                                      | CapitaLand Ascott Trust                                      | CUSIP: 000000000<br>LEI: 549300W6RTG7Y32IWY65 | Long             | EC               |  | SG        |    337133 | NS      | $244481.00    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| SOSiLA Logistics REIT Inc                                    | SOSiLA Logistics REIT Inc                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        87 | NS      | $69647.00     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Tritax Big Box REIT PLC                                      | Tritax Big Box REIT PLC                                      | CUSIP: 000000000<br>LEI: 213800L6X88MIYPVR714 | Long             | EC               |  | GB        |    322685 | NS      | $636998.18    | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| National Storage REIT                                        | National Storage REIT                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |    156446 | NS      | $235416.09    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Platzer Fastigheter Holding AB                               | Platzer Fastigheter Holding AB                               | CUSIP: 000000000<br>LEI: 5493009KPII4BZE70820 | Long             | EC               | CORP              | SE        |      9228 | NS      | $71005.16     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Hall Social Infrastructure REIT                      | Charter Hall Social Infrastructure REIT                      | CUSIP: 000000000<br>LEI: 254900W31UGIMDQW3W98 | Long             | EC               |  | AU        |     46577 | NS      | $98342.18     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Sankei Real Estate Inc                                       | Sankei Real Estate Inc                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        70 | NS      | $44812.11     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Hulic Reit Inc                                               | Hulic Reit Inc                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       169 | NS      | $188098.04    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Irish Residential Properties REIT PLC                        | Irish Residential Properties REIT PLC                        | CUSIP: 000000000<br>LEI: 635400EOPACLULRENY18 | Long             | EC               |  | IE        |     75396 | NS      | $80648.03     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| OUE Real Estate Investment Trust                             | OUE Real Estate Investment Trust                             | CUSIP: 000000000<br>LEI: 549300ZH7I6OTTYIPE70 | Long             | EC               |  | SG        |    316100 | NS      | $83784.96     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Custodian Property Income Reit PLC                           | Custodian Property Income Reit PLC                           | CUSIP: 000000000<br>LEI: 2138001BOD1J5XK1CX76 | Long             | EC               |  | GB        |     49830 | NS      | $52631.17     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Healthcare REIT PLC                                   | Target Healthcare REIT PLC                                   | CUSIP: 000000000<br>LEI: 213800RXPY9WULUSBC04 | Long             | EC               |  | GB        |     84561 | NS      | $104813.19    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Swedish Logistic Property AB                                 | Swedish Logistic Property AB                                 | CUSIP: 000000000<br>LEI: 254900AWRHP1QNE6OQ19 | Long             | EC               | CORP              | SE        |     22806 | NS      | $100463.79    | 0.04%             |  |  |  | No            |                  1 | On Loan: —       |
| Lendlease Global Commercial REIT                             | Lendlease Global Commercial REIT                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | SG        |    239156 | NS      | $117577.80    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Centuria Office REIT                                         | Centuria Office REIT                                         | CUSIP: 000000000<br>LEI: 984500D9D1RFE9AF4796 | Long             | EC               |  | AU        |     63851 | NS      | $49287.62     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Care Property Invest NV                                      | Care Property Invest NV                                      | CUSIP: 000000000<br>LEI: 54930096UUTCOUCQDU64 | Long             | EC               |  | BE        |      5335 | NS      | $70250.59     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| NIPPON REIT Investment Corp                                  | NIPPON REIT Investment Corp                                  | CUSIP: 000000000<br>LEI: 3538004O49OJ90PEXX85 | Long             | EC               |  | JP        |       204 | NS      | $128811.79    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Wallenstam AB                                                | Wallenstam AB                                                | CUSIP: 000000000<br>LEI: 21380081R2P9MKFQBD25 | Long             | EC               | CORP              | SE        |     44873 | NS      | $207632.95    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Scentre Group                                                | Scentre Group                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |    690826 | NS      | $1840245.62   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Hiag Immobilien Holding AG                                   | Hiag Immobilien Holding AG                                   | CUSIP: 000000000<br>LEI: 549300TU2XXQ3TU4KJ11 | Long             | EC               | CORP              | CH        |       530 | NS      | $72894.43     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Eurocommercial Properties NV                                 | Eurocommercial Properties NV                                 | CUSIP: 000000000<br>LEI: 724500SFK53FPNM68L95 | Long             | EC               |  | NL        |      5764 | NS      | $172113.52    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| HomeCo Daily Needs REIT                                      | HomeCo Daily Needs REIT                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |    244845 | NS      | $218693.29    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Merlin Properties Socimi SA                                  | Merlin Properties Socimi SA                                  | CUSIP: 000000000<br>LEI: 959800L8KD863DP30X04 | Long             | EC               |  | ES        |     50173 | NS      | $781608.35    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| CapitaLand Investment Ltd/Singapore                          | CapitaLand Investment Ltd/Singapore                          | CUSIP: 000000000<br>LEI: 254900AT4UQDU7SNXX49 | Long             | EC               | CORP              | SG        |    301500 | NS      | $610850.91    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Dexus Industria REIT                                         | Dexus Industria REIT                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     46360 | NS      | $86762.47     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Life Science Reit PLC                                        | Life Science Reit PLC                                        | CUSIP: 000000000<br>LEI: 213800RG7JNX7K8F7525 | Long             | EC               |  | GB        |     34022 | NS      | $16769.98     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Region Group                                                 | Region Group                                                 | CUSIP: 000000000<br>LEI: 549300MS6NZV0B7K7D28 | Long             | EC               |  | AU        |    160188 | NS      | $255855.92    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Logistea AB                                                  | Logistea AB                                                  | CUSIP: 000000000<br>LEI: 549300ZSB0ZCKM1SL747 | Long             | EC               | CORP              | SE        |     34075 | NS      | $54805.51     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Wihlborgs Fastigheter AB                                     | Wihlborgs Fastigheter AB                                     | CUSIP: 000000000<br>LEI: 549300RC1YDJPITF8X06 | Long             | EC               | CORP              | SE        |     36037 | NS      | $350189.06    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Intea Fastigheter AB                                         | Intea Fastigheter AB                                         | CUSIP: 000000000<br>LEI: 549300KD3XGX3754UW61 | Long             | EC               | CORP              | SE        |      8947 | NS      | $63616.20     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Abacus Group                                                 | Abacus Group                                                 | CUSIP: 000000000<br>LEI: 2138009R3Y4TK4IZDW59 | Long             | EC               |  | AU        |     67735 | NS      | $53229.92     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Abacus Storage King                                          | Abacus Storage King                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     54518 | NS      | $50079.62     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Shurgard Self Storage Ltd                                    | Shurgard Self Storage Ltd                                    | CUSIP: 000000000<br>LEI: 549300J0UEIKU81XO336 | Long             | EC               |  | GG        |      4357 | NS      | $159496.04    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Entra ASA                                                    | Entra ASA                                                    | CUSIP: 000000000<br>LEI: 549300APU14LQKTYCH34 | Long             | EC               | CORP              | NO        |      6538 | NS      | $72678.51     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hammerson PLC                                                | Hammerson PLC                                                | CUSIP: 000000000<br>LEI: 213800G1C9KKVVDN1A60 | Long             | EC               |  | GB        |     62004 | NS      | $248804.56    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Sveafastigheter AB                                           | Sveafastigheter AB                                           | CUSIP: 000000000<br>LEI: 636700W1VM86O2G2AA36 | Long             | EC               | CORP              | SE        |      9591 | NS      | $42975.46     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Sekisui House Reit Inc                                       | Sekisui House Reit Inc                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       524 | NS      | $269686.50    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| NP3 Fastigheter AB                                           | NP3 Fastigheter AB                                           | CUSIP: 000000000<br>LEI: 549300MGVITW8GYJHZ50 | Long             | EC               | CORP              | SE        |      4057 | NS      | $110440.91    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| DigiCo Infrastructure REIT                                   | DigiCo Infrastructure REIT                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |     47761 | NS      | $81173.96     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Kiwi Property Group Ltd                                      | Kiwi Property Group Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | NZ        |    201600 | NS      | $124610.07    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Atrium Ljungberg AB                                          | Atrium Ljungberg AB                                          | CUSIP: 000000000<br>LEI: 5493001NNP6HM67OVU09 | Long             | EC               | CORP              | SE        |     30442 | NS      | $109780.58    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Stoneweg Europe Stapled Trust                                | Stoneweg Europe Stapled Trust                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | SG        |     46500 | NS      | $81469.31     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Health Care & Medical Investment Corp                        | Health Care & Medical Investment Corp                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        45 | NS      | $33625.26     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| AEW UK REIT PLC                                              | AEW UK REIT PLC                                              | CUSIP: 000000000<br>LEI: 21380073LDXHV2LP5K50 | Long             | EC               |  | GB        |     19411 | NS      | $26520.23     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vicinity Ltd                                                 | Vicinity Ltd                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | AU        |    508996 | NS      | $840895.74    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Primary Health Properties PLC                                | Primary Health Properties PLC                                | CUSIP: 000000000<br>LEI: 213800Y5CJHXOATK7X11 | Long             | EC               |  | GB        |    336739 | NS      | $414590.62    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Samty Residential Investment Corp                            | Samty Residential Investment Corp                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        43 | NS      | $31456.75     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Residential Secure Income PLC                                | Residential Secure Income PLC                                | CUSIP: 000000000<br>LEI: 213800D24WA531LAR763 | Long             | EC               |  | GB        |     22484 | NS      | $17072.51     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Land Securities Group PLC                                    | Land Securities Group PLC                                    | CUSIP: 000000000<br>LEI: 213800V8IAVKS37D6B88 | Long             | EC               |  | GB        |     98656 | NS      | $806274.77    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Star Asia Investment Corp                                    | Star Asia Investment Corp                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |       310 | NS      | $123378.19    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui Fudosan Logistics Park Inc                            | Mitsui Fudosan Logistics Park Inc                            | CUSIP: 000000000<br>LEI: 353800DN63EIYS760S59 | Long             | EC               |  | JP        |       384 | NS      | $278348.97    | 0.11%             |  |  |  | No            |                  2 | On Loan: —       |
| Pandox AB                                                    | Pandox AB                                                    | CUSIP: 000000000<br>LEI: 549300K4HA8EBLSL3B97 | Long             | EC               | CORP              | SE        |     13658 | NS      | $272290.22    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Takara Leben Real Estate Investment Corp                     | Takara Leben Real Estate Investment Corp                     | CUSIP: 000000000<br>LEI: 353800B55299YP0HS329 | Long             | EC               |  | JP        |       103 | NS      | $62099.22     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Mirai Corp                                                   | Mirai Corp                                                   | CUSIP: 000000000<br>LEI: 353800HQCYM7P10R9D93 | Long             | EC               |  | JP        |       249 | NS      | $77998.22     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Xior Student Housing NV                                      | Xior Student Housing NV                                      | CUSIP: 000000000<br>LEI: 549300JK7HFOCP0U8K85 | Long             | EC               |  | BE        |      5030 | NS      | $164114.85    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| NSI NV                                                       | NSI NV                                                       | CUSIP: 000000000<br>LEI: 724500I77C30W2LZZJ03 | Long             | EC               |  | NL        |      2281 | NS      | $53764.02     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** BlackRock Funds

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer