NPORT-EX 2 BRFINT0BRIntlFd.htm
Schedule of Investments (unaudited)
February 28, 2021
BlackRock International Fund
(Percentages shown are based on Net Assets)
Security   Shares Value
Common Stocks
Brazil — 3.2%
Banco do Brasil SA
   4,209,764 $     21,198,305
Locaweb Servicos de Internet SA(a)
   2,619,123     13,310,129
      34,508,434
Canada — 3.1%
Canadian National Railway Co.
     311,940     34,049,651
China — 7.9%
Kuaishou Technology(b)
   1,540,500      58,605,514
Weimob, Inc.(a)(b)
   4,434,000      12,849,192
Wuxi Biologics Cayman, Inc.(a)(b)
   1,213,000     15,027,761
      86,482,467
France — 11.2%
L’Oreal SA
     130,268      47,541,275
Sanofi
     289,143      26,534,857
Schneider Electric SE
     153,027      22,628,773
Worldline SA(a)(b)
     285,892     25,502,030
      122,206,935
Germany — 5.1%
Volkswagen AG, Preference Shares
     262,808     54,984,627
Iceland — 2.4%
Marel HF(a)
   3,759,274     26,216,647
India — 4.1%
Bharti Airtel Ltd.
   3,266,523      24,708,191
Reliance Industries Ltd.
  717,346  20,334,210
      45,042,401
Ireland — 2.7%
Ryanair Holdings PLC, ADR(b)
  270,139  29,045,345
Italy — 4.2%
Intesa Sanpaolo SpA(b)
  17,772,520  45,693,706
Japan — 14.1%
BASE, Inc.(b)(c)
  168,100   16,824,084
FANUC Corp.
  120,700   30,163,767
Recruit Holdings Co. Ltd.
  1,193,700   59,648,493
Sony Corp.
  441,200  46,591,242
      153,227,586
Mexico — 2.5%
Grupo Financiero Banorte SAB de CV, Class O(b)
  5,474,700  27,492,566
Netherlands — 3.1%
Koninklijke DSM NV
  206,541  34,055,633
Russia — 2.3%
Sberbank of Russia PJSC, ADR
  1,717,444  24,992,145
Singapore — 1.2%
Sea Ltd., ADR(b)(c)
  55,122  12,991,704
Security   Shares Value
South Korea — 3.1%
LG Chem Ltd.
      46,386 $     34,245,108
Spain — 2.9%
Cellnex Telecom SA(a)
     578,647     31,484,016
Switzerland — 3.5%
Roche Holding AG
     114,535     37,574,239
United Kingdom — 6.2%
Burberry Group PLC(b)
     655,049      16,675,843
Unilever PLC
     533,247      27,701,121
Vodafone Group PLC
  13,207,620     22,609,371
      66,986,335
United States — 13.1%
Airbnb, Inc., Class A(b)
      18,550       3,827,792
Cadence Design Systems, Inc.(b)
     184,276      25,999,501
Mastercard, Inc., Class A
      98,521      34,861,656
Mondelez International, Inc., Class A
     356,614      18,957,600
Otis Worldwide Corp.
     502,101      31,988,855
PayPal Holdings, Inc.(b)
     102,131     26,538,740
      142,174,144
Total Long-Term Investments — 95.9%

(Cost: $796,992,381)
1,043,453,689
Short-Term Securities(d)(e)
Money Market Funds — 5.0%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.01%
  42,081,829      42,081,829
SL Liquidity Series, LLC, Money Market Series, 0.12%(f)
  12,159,775     12,164,639
Total Short-Term Securities — 5.0%

(Cost: $54,246,277)
54,246,468
Total Investments — 100.9%

(Cost: $851,238,658)
1,097,700,157
Liabilities in Excess of Other Assets — (0.9)%
(9,792,186)
Net Assets — 100.0%
$  1,087,907,971
(a) 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.
(b) Non-income producing security.
(c) All or a portion of this security is on loan.
(d) Affiliate of the Fund.
(e) Annualized 7-day yield as of period end.
(f) All or a portion of this security was purchased with the cash collateral from loaned securities.
 
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Schedule of Investments (unaudited)  (continued)
February 28, 2021
BlackRock International Fund
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended February 28, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Value at
05/31/20 		Purchases
at Cost 		Proceeds
from Sale 		Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Value at
02/28/21 		Shares
Held at
02/28/21 		Income   Capital
Gain
Distributions
from Underlying
Funds
BlackRock Liquidity Funds, T-Fund, Institutional Class
$  10,663,842 $  31,417,987(a) $  — $  —   $  —   $  42,081,829 42,081,829 $  7,563   $  —
SL Liquidity Series, LLC, Money Market Series
 14,478,848  —  (2,309,403)(a)  2,123    (6,929)    12,164,639 12,159,775  48,119(b)    —
        $  2,123   $  (6,929)   $  54,246,468   $  55,682   $  —
(a) Represents net amount purchased (sold).
(b) All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
•    Level 1 — Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access;
•    Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and
•    Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global 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 Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are 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.
Certain investments of the Fund were fair valued using net asset value (“NAV”) per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.
The following table summarizes the Fund’s investments categorized in the fair value hierarchy. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.
  Level 1 Level 2 Level 3 Total
Assets        
Investments        
Long-Term Investments        
Common Stocks         
Brazil
$  34,508,434 $  — $  — $  34,508,434
Canada
 34,049,651  —  —   34,049,651
China
 —  86,482,467  —   86,482,467
France
 —  122,206,935  —   122,206,935
Germany
 —  54,984,627  —   54,984,627
Iceland
 26,216,647  —  —   26,216,647
India
 —  45,042,401  —   45,042,401
Ireland
 29,045,345  —  —   29,045,345
Italy
 —  45,693,706  —   45,693,706
Japan
 —  153,227,586  —   153,227,586
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Schedule of Investments (unaudited)  (continued)
February 28, 2021
BlackRock International Fund
  Level 1   Level 2   Level 3   Total
Common Stocks (continued)              
Mexico
$  27,492,566   $  —   $  —   $  27,492,566
Netherlands
 —    34,055,633    —     34,055,633
Russia
 —    24,992,145    —     24,992,145
Singapore
 12,991,704    —    —     12,991,704
South Korea
 —    34,245,108    —     34,245,108
Spain
 —    31,484,016    —     31,484,016
Switzerland
 —    37,574,239    —     37,574,239
United Kingdom
 27,701,121    39,285,214    —     66,986,335
United States
 142,174,144    —    —     142,174,144
Short-Term Securities              
Money Market Funds
 42,081,829    —    —    42,081,829
  $  376,261,441   $  709,274,077   $  —   1,085,535,518
Investments Valued at NAV(a)
            12,164,639
              $  1,097,700,157
(a) Certain investments of the Fund were fair valued using NAV per share as no quoted market value is available and therefore have been excluded from the fair value hierarchy.
Portfolio Abbreviation 
ADR American Depositary Receipt
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