Consolidated Schedule of Investments  (unaudited) January 31, 2020 BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets)

Security	Shares		Value
Common Stocks — 95.1%
Argentina — 0.0%
YPF SA, ADR		20	$	188
Austria — 0.1%
Erste Group Bank AG(a)		169		6,205
Belgium — 0.1%
KBC Group NV		123		9,025
Brazil — 0.8%
Azul SA — ADR(a)		1,077		44,696
Canada — 0.9%
Enbridge, Inc.		1,305		53,062
Chile — 0.0%
Cia Cervecerias Unidas SA, ADR		105		1,871
China — 4.9%
Aier Eye Hospital Group Co. Ltd., Class A		500		2,816
Alibaba Group Holding Ltd.(a)		600		15,482
Alibaba Group Holding Ltd. — ADR(a)		256		52,887
Alibaba Health Information Technology Ltd.(a)		2,000		2,786
Asymchem Laboratories Tianjin Co. Ltd., Class A		200		4,283
Autobio Diagnostics Co. Ltd., Class A		200		3,220
Brilliance China Automotive Holdings Ltd.		2,000		1,773
China International Travel Service Corp. Ltd., Class A		200		2,281
China Merchants Bank Co. Ltd., Class H		500		2,411
China Overseas Land & Investment Ltd.		2,000		6,429
Foshan Haitian Flavouring & Food Co. Ltd., Class A		100		1,505
Glodon Co. Ltd., Class A		500		2,735
Great Wall Motor Co. Ltd., Class A		1,400		1,625
Gree Electric Appliances, Inc. of Zhuhai, Class A(a)		200		1,768
Guangzhou Automobile Group Co. Ltd., Class A		1,000		1,526
Guangzhou Automobile Group Co. Ltd., Class H		2,000		2,004
Guangzhou Baiyun International Airport Co. Ltd., Class A		900		1,932
Haidilao International Holding Ltd.(b)		1,000		3,863
Han’s Laser Technology Industry Group Co. Ltd., Class A		500		2,960
Hangzhou Hikvision Digital Technology Co. Ltd., Class A		1,700		8,419
Hangzhou Robam Appliances Co. Ltd., Class A		400		1,826
Hangzhou Tigermed Consulting Co. Ltd., Class A		300		3,090
Hengan International Group Co. Ltd.		500		3,642

Security	Shares		Value
China (continued)
Huazhu Group Ltd., ADR		132	$	4,554
Hundsun Technologies, Inc., Class A		200		2,424
Industrial & Commercial Bank of China Ltd., Class H		4,000		2,655
Inner Mongolia Yili Industrial Group Co. Ltd., Class A		500		2,129
Inspur Electronic Information Industry Co. Ltd., Class A		700		3,258
Jiangsu Hengrui Medicine Co. Ltd., Class A		100		1,232
Kingdee International Software Group Co. Ltd.		5,000		5,339
Kingsoft Corp. Ltd.(a)		1,000		3,022
Laobaixing Pharmacy Chain JSC, Class A		200		2,066
Lenovo Group Ltd.		4,000		2,610
Li Ning Co. Ltd.		500		1,460
Meituan Dianping, Class B(a)		200		2,532
NetEase, Inc. — ADR		9		2,887
New Oriental Education & Technology Group, Inc. — ADR(a)		18		2,188
Ping An Insurance Group Co. of China Ltd., Class A		200		2,270
Qingdao Haier Co. Ltd., Class A		700		1,811
Shanghai International Airport Co. Ltd., Class A		200		1,932
Shanghai Jahwa United Co. Ltd., Class A		470		1,881
Shenzhen Inovance Technology Co. Ltd.		700		2,867
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A		100		2,612
TAL Education Group — ADR(a)		116		5,788
Tencent Holdings Ltd.		1,400		66,766
Trip.com Group Ltd., ADR(a)		173		5,558
Venustech Group, Inc., Class A		500		2,722
Want Want China Holdings Ltd.		5,000		4,127
Wuhan Raycus Fiber Laser Technologies Co. Ltd., Class A		200		2,858
WuXi AppTec Co. Ltd., Class A		200		2,689
Wuxi Biologics Cayman, Inc.(a)(b)		500		6,324
Yifeng Pharmacy Chain Co. Ltd., Class A		200		2,350
Yonyou Network Technology Co. Ltd., Class A		500		2,234
Yum China Holdings, Inc.		96		4,135
				288,543
Czech Republic — 0.1%
CEZ AS		141		3,088
Finland — 0.3%
Neste OYJ		386		15,360
France — 3.7%
BNP Paribas SA		164		8,703

1

Consolidated Schedule of Investments  (unaudited) (continued) January 31, 2020 BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets)

Security	Shares		Value
France (continued)
Credit Agricole SA		550	$	7,431
Danone SA		856		68,501
Dassault Aviation SA		9		10,960
EssilorLuxottica SA		68		10,068
Safran SA		292		47,081
Sanofi		458		44,169
Societe Generale SA		243		7,863
Sodexo SA		122		12,774
				217,550
Germany — 2.7%
Fresenius SE & Co. KGaA		389		19,862
Infineon Technologies AG		992		21,311
Knorr-Bremse AG		321		35,070
Siemens AG, Registered Shares		668		82,390
				158,633
Hong Kong — 1.2%
AIA Group Ltd.		800		7,927
CK Infrastructure Holdings Ltd.		500		3,488
CLP Holdings Ltd.		500		5,200
Hang Lung Properties Ltd.		2,000		4,178
HKT Trust & HKT Ltd.(c)		2,000		2,985
Jardine Matheson Holdings Ltd.		83		4,627
Link REIT		500		5,056
Sun Hung Kai Properties Ltd.		2,500		34,826
				68,287
Indonesia — 0.1%
Bank Central Asia Tbk PT		2,200		5,199
Italy — 2.6%
Enel SpA		7,786		67,865
Intesa Sanpaolo SpA		2,349		5,834
RAI Way SpA(b)		2,020		13,173
UniCredit SpA		4,796		64,061
				150,933
Japan — 5.7%
Ajinomoto Co., Inc.		1,700		27,999
Alfresa Holdings Corp.		100		2,009
Astellas Pharma, Inc.		1,500		26,505
Canon Marketing Japan, Inc.		100		2,383
Denso Corp.		100		4,102
East Japan Railway Co.		400		35,221
Hoya Corp.		300		28,712
Japan Airlines Co. Ltd.		1,500		42,196
Japan Aviation Electronics Industry Ltd.		100		1,773
Kamigumi Co. Ltd.		100		2,137
Kinden Corp.		400		6,816
Mabuchi Motor Co. Ltd.		100		3,644
Maeda Road Construction Co. Ltd.		100		3,380
Medipal Holdings Corp.		100		2,119
Murata Manufacturing Co. Ltd.		400		22,646
Nippo Corp.		100		2,453

Security	Shares		Value
Japan (continued)
Okumura Corp.		100	$	2,644
Seino Holdings Co Ltd.		100		1,278
Shin-Etsu Chemical Co. Ltd.		300		34,309
Stanley Electric Co. Ltd.		100		2,575
Subaru Corp.		900		22,511
Suzuki Motor Corp.		700		32,029
Toagosei Co. Ltd.		300		3,354
Toda Corp.		500		3,207
Tokyo Steel Manufacturing Co. Ltd.		400		2,997
Toyota Industries Corp.		200		10,817
TV Asahi Holdings Corp.		100		1,907
Yamato Kogyo Co. Ltd.		100		2,423
				334,146
Netherlands — 3.2%
ABN AMRO Group NV CVA(b)		1,525		26,544
Adyen NV(a)(b)		8		7,351
ASML Holding NV		108		30,309
ING Groep NV		4,270		46,360
Koninklijke Philips NV		1,284		58,804
NXP Semiconductors NV		162		20,551
				189,919
Portugal — 0.1%
Jeronimo Martins SGPS SA		197		3,390
Singapore — 0.9%
CapitaLand Ltd.		14,600		38,474
ComfortDelGro Corp. Ltd.		1,900		3,005
DBS Group Holdings Ltd.		100		1,842
Singapore Telecommunications Ltd.		1,300		3,128
United Overseas Bank Ltd.		400		7,461
				53,910
South Korea — 0.3%
Kakao Corp.		22		2,900
KT&G Corp.		16		1,271
LG Chem Ltd.		13		3,625
NCSoft Corp.		9		4,768
POSCO		18		3,261
S-Oil Corp.		18		1,133
Woongjin Coway Co. Ltd.		34		2,505
				19,463
Spain — 0.5%
Cellnex Telecom SA(b)		605		30,090
Switzerland — 2.0%
Nestle SA, Registered Shares		499		55,036
Roche Holding AG		186		62,397
				117,433
Taiwan — 2.0%
Cathay Financial Holding Co. Ltd.		2,000		2,677
Chunghwa Telecom Co. Ltd.		1,000		3,573

2

Consolidated Schedule of Investments  (unaudited) (continued) January 31, 2020 BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets)

Security	Shares		Value
Taiwan (continued)
Far EasTone Telecommunications Co. Ltd.		1,000	$	2,265
Formosa Chemicals & Fibre Corp.		1,000		2,791
Formosa Petrochemical Corp.		1,000		2,957
Formosa Plastics Corp.		1,000		3,071
Fubon Financial Holding Co. Ltd.		3,000		4,449
Hon Hai Precision Industry Co. Ltd.		2,000		5,438
Nan Ya Plastics Corp.		1,000		2,292
Taiwan Mobile Co. Ltd.		1,000		3,542
Taiwan Semiconductor Manufacturing Co. Ltd.		8,000		82,513
Uni-President Enterprises Corp.		2,000		4,765
				120,333
Thailand — 0.3%
Advanced Info Service PCL, Foreign Registered Shares		700		4,527
Intouch Holdings PCL, Class F		2,100		3,493
PTT Global Chemical PCL, Foreign Registered Shares		1,800		2,830
Siam Cement PCL, Foreign Registered Shares		200		2,286
Thai Beverage PCL		2,400		1,393
Thai Oil PCL, Foreign Registered Shares — NVDR		900		1,501
				16,030
United Arab Emirates — 0.1%
NMC Health PLC		504		8,571
United Kingdom — 2.6%
Aptiv PLC		64		5,426
AstraZeneca PLC		214		20,935
HSBC Holdings PLC		4,030		29,299
Unilever NV		355		20,715
Unilever PLC		32		1,916
Vodafone Group PLC		38,921		76,469
				154,760
United States — 59.9%
Abbott Laboratories		151		13,158
Accenture PLC, Class A		42		8,619
Adobe, Inc.(a)		60		21,068
Agilent Technologies, Inc.		460		37,978
Air Products & Chemicals, Inc.		280		66,839
Alphabet, Inc., Class A(a)		119		170,501
Amazon.com, Inc.(a)		82		164,715
Anthem, Inc.		295		78,258
Apple, Inc.		528		163,421
Applied Materials, Inc.		342		19,833
Autodesk, Inc.(a)		277		54,527
Bank of America Corp.		2,659		87,295
Becton Dickinson & Co.		214		58,889
Bristol-Myers Squibb Co.		672		42,302
Charles Schwab Corp.		505		23,003

Security	Shares		Value
United States (continued)
Charter Communications, Inc., Class A(a)		118	$	61,060
Cisco Systems, Inc.		261		11,998
Citigroup, Inc.		548		40,777
Citrix Systems, Inc.		152		18,425
Colgate-Palmolive Co.		766		56,515
Comcast Corp., Class A		2,409		104,045
Crowdstrike Holdings, Inc., Class A(a)		37		2,260
D.R. Horton, Inc.		741		43,867
Dropbox, Inc., Class A(a)		907		15,437
DuPont de Nemours, Inc.		532		27,228
Emerson Electric Co.		925		66,258
Facebook, Inc., Class A(a)		299		60,371
Ferguson PLC		137		12,303
FleetCor Technologies, Inc.(a)		213		67,144
Fortinet, Inc.(a)		28		3,230
Gilead Sciences, Inc.		549		34,697
HCA Healthcare, Inc.		264		36,643
Home Depot, Inc.		214		48,813
International Flavors & Fragrances, Inc.		67		8,784
Intuit, Inc.		37		10,374
Johnson & Johnson		495		73,691
JPMorgan Chase & Co.		622		82,328
KraneShares CSI China Internet ETF		67		3,222
Lennar Corp., Class A		608		40,347
Liberty Media Corp. — Liberty SiriusXM, Class A(a)		615		29,871
Lowe’s Cos., Inc.		290		33,710
LyondellBasell Industries NV, Class A		160		12,458
Marathon Petroleum Corp.		167		9,101
Marsh & McLennan Cos., Inc.		452		50,561
Marvell Technology Group Ltd.		308		7,404
Mastercard, Inc., Class A		171		54,026
McDonald’s Corp.		247		52,851
Merck & Co., Inc.		587		50,153
Micron Technology, Inc.(a)		193		10,246
Microsoft Corp.		1,062		180,784
Morgan Stanley		1,143		59,733
Motorola Solutions, Inc.		52		9,204
Newmont Corp.		313		14,104
NextEra Energy, Inc.		254		68,123
NVIDIA Corp.		115		27,189
Okta, Inc.(a)		17		2,177
ONEOK, Inc.		907		67,907
Oracle Corp.		288		15,106
Palo Alto Networks, Inc.(a)		19		4,461
PayPal Holdings, Inc.(a)		128		14,578
Peloton Interactive, Inc., Class A(a)		343		11,099
Pfizer, Inc.		1,294		48,189
PPG Industries, Inc.		399		47,816
Proofpoint, Inc.(a)		9		1,105
Raytheon Co.		358		79,097
Regions Financial Corp.		1,140		17,750
Royal Caribbean Cruises Ltd.		144		16,860

3

Consolidated Schedule of Investments  (unaudited) (continued) January 31, 2020 BlackRock GA Dynamic Equity Fund (Percentages shown are based on Net Assets)

Security	Shares		Value
United States (continued)
salesforce.com, Inc.(a)		318	$	57,975
ServiceNow, Inc.(a)		67		22,661
Splunk, Inc.(a)		28		4,347
Starbucks Corp.		412		34,950
Target Corp.		202		22,369
Thermo Fisher Scientific, Inc.		113		35,390
TJX Cos., Inc.		649		38,317
Truist Financial Corp.		806		41,565
Uber Technologies, Inc.(a)		1,038		37,669
Union Pacific Corp.		281		50,417
United Technologies Corp.		429		64,436
UnitedHealth Group, Inc.		283		77,103
Vertex Pharmaceuticals, Inc.(a)		64		14,531
Visa, Inc., Class A		63		12,535
Walmart, Inc.		420		48,086
Williams Cos., Inc.		829		17,152
Xilinx, Inc.		160		13,517
Zscaler, Inc.(a)		18		1,010
				3,529,916
Total Common Stocks — 95.1% (Cost — $4,854,265)				5,600,601
Investment Companies — 0.2%
Equity Fund — 0.2%
iShares China Large-Cap ETF(e)		253		10,054
Total Investment Companies — 0.2% (Cost — $10,772)				10,054

Security	Shares		Value
Preferred Stocks — 0.6%
Brazil — 0.1%
Itau Unibanco Holding SA, Preference Shares, 0.00%		650	$	4,981
Germany — 0.5%
Henkel AG & Co. KGaA, Preference Shares, 0.00%		308		31,325
Total Preferred Stocks — 0.6% (Cost — $36,663)				36,306
Total Long-Term Investments — 95.9% (Cost — $4,901,700)				5,646,961
Short-Term Securities — 5.2%
BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.48%(d)(e)		305,544		305,544
Total Short-Term Securities — 5.2% (Cost — $305,544)				305,544
Options Purchased — 0.1% (Cost — $6,900)				4,695
Total Investments Before Options Written — 101.2% (Cost — $5,214,144)				5,957,200
Options Written — (0.1)% (Premiums Received — $5,605)				(4,187	)
Total Investments, Net of Options Written — 101.1% (Cost — $5,208,539)				5,953,013
Liabilities in Excess of Other Assets — (1.1)%				(62,456	)
Net Assets — 100.0%			$	5,890,557

^(a)  Non-income producing security.

^(b)  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.

^(c)  A security contractually bound to one or more other securities to form a single saleable unit which cannot be sold separately.

^(d)  Annualized 7-day yield as of period end.

Includes net capital gain distributions, if applicable.

^(e)  During the period ended January 31, 2020, investments in issuers considered to be an affiliate/affiliates of the Fund for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, and/or related parties of the fund were as follows:

4

Consolidated Schedule of Investments  (unaudited) (continued) January 31, 2020 BlackRock GA Dynamic Equity Fund

Affiliated Persons and/or Related Parties	Shares Held at 10/31/19		Shares Purchase			Shares Sold		Shares Held at 01/31/20		Value at 01/31/20		Income		Net Realized Gain (Loss) (a)		Change in Unrealized Appreciation (Depreciation)
BlackRock Liquidity Funds, T-Fund, Institutional Class		254,910		50,634	(b)		—		305,544	$	305,544	$	983	$	1	$	—
iShares China Large-Cap ETF		—		253			—		253		10,054		199		—		(718	)
										$	315,598	$	1,182	$	1	$	(718	)

^(a)  Includes net capital gain distributions, if applicable.

^(b)  Represents net shares purchased(sold).

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

Description	Number of Contracts		Expiration Date		Notional Amount (000)		Value/ Unrealized Appreciation (Depreciation)
Long Contracts
SGX Nifty 50 Index		3		02/27/20	$	72	$	(910	)
FTSE 100 Index		1		03/20/20		95		(3,587	)
S&P 500 E-Mini Index		2		03/20/20		322		2,791
								(1,706	)
Short Contracts
MSCI Taiwan Index		3		02/26/20		132		111
HSCEI Index		1		02/27/20		66		2,277
KOSPI Index		1		03/12/20		60		(2,299	)
								89
							$	(1,617	)

Forward Foreign Currency Exchange Contracts

Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
CHF	70,000	USD	71,535	JPMorgan Chase Bank N.A.		02/03/20	$	1,139
GBP	94,950	USD	122,764	JPMorgan Chase Bank N.A.		02/03/20		2,618
HKD	635,000	USD	81,757	BNP Paribas S.A.		02/03/20		3
JPY	6,859,000	USD	63,129	JPMorgan Chase Bank N.A.		02/03/20		172
USD	103,976	AUD	155,000	Morgan Stanley & Co. International PLC		02/03/20		218
USD	111,921	CAD	148,000	JPMorgan Chase Bank N.A.		02/03/20		88
USD	63,676	JPY	6,859,000	Bank of America N.A.		02/03/20		375
INR	4,815,000	USD	66,377	Barclays Bank PLC		02/14/20		814
JPY	18,426,432	USD	169,324	Bank of America N.A.		03/19/20		1,135
USD	143,592	EUR	128,000	Bank of America N.A.		03/27/20		1,180
USD	120,191	TWD	3,605,000	Deutsche Bank AG		03/27/20		1,211
CHF	70,000	USD	72,733	Morgan Stanley & Co. International PLC		05/07/20		410
GBP	95,000	USD	124,685	Citibank N.A.		05/07/20		1,073
							$	10,436

5

Consolidated Schedule of Investments  (unaudited) (continued) January 31, 2020 BlackRock GA Dynamic Equity Fund

Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
AUD	155,000	USD	106,082	Bank of America N.A.		02/03/20		(2,325	)
CAD	148,064	USD	113,458	Citibank N.A.		02/03/20		(1,576	)
USD	72,263	CHF	70,000	Morgan Stanley & Co. International PLC		02/03/20		(412	)
USD	124,373	GBP	95,000	Citibank N.A.		02/03/20		(1,074	)
USD	81,005	HKD	635,000	JPMorgan Chase Bank N.A.		02/03/20		(755	)
AUD	155,000	USD	104,179	Morgan Stanley & Co. International PLC		05/07/20		(236	)
CAD	148,000	USD	111,924	JPMorgan Chase Bank N.A.		05/07/20		(94	)
USD	81,647	HKD	635,000	BNP Paribas S.A.		05/07/20		(17	)
USD	63,451	JPY	6,859,000	JPMorgan Chase Bank N.A.		05/07/20		(167	)
								(6,656	)
	Net unrealized appreciation						$	3,780

OTC Options Purchased

Description	Counterparty	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call
Agilent Technologies, Inc.	Nomura International Plc		160		02/21/20	USD	82.50	USD	13	$	428
Alibaba Group Holding Ltd. — ADR	Societe Generale		63		02/21/20	USD	215.00	USD	13		257
Facebook, Inc., Class A	UBS AG		159		02/21/20	USD	208.00	USD	32		443
Lowe’s Cos., Inc.	Nomura International Plc		189		02/21/20	USD	123.00	USD	22		31
QUALCOMM, Inc.	Citibank N.A.		170		02/21/20	USD	90.00	USD	15		287
Walt Disney Co.	Citibank N.A.		118		02/21/20	USD	140.00	USD	16		437
Alibaba Group Holding Ltd. — ADR	Citibank N.A.		44		03/20/20	USD	215.00	USD	9		287
Alphabet, Inc., Class C	JPMorgan Chase Bank N.A.		14		03/20/20	USD	1,450.00	USD	20		739
BP PLC — ADR	Credit Suisse International		503		03/20/20	USD	40.00	USD	18		29
Emerson Electric Co.	Citibank N.A.		379		03/20/20	USD	78.00	USD	27		223
Home Depot, Inc.	Nomura International Plc		104		03/20/20	USD	225.00	USD	24		965
McDonald’s Corp.	Nomura International Plc		51		03/20/20	USD	211.00	USD	11		318
Lowe’s Cos., Inc.	Nomura International Plc		113		04/17/20	USD	125.00	USD	13		251
										$	4,695

OTC Options Written

Description	Counterparty	Number of Contracts		Expiration Date		Exercise Price		Notional Amount (000)		Value
Call
Agilent Technologies, Inc.	Nomura International Plc		160		02/21/20	USD	88.50	USD	13	$	(95	)
Alibaba Group Holding Ltd. — ADR	Societe Generale		63		02/21/20	USD	235.00	USD	13		(43	)
Facebook, Inc., Class A	UBS AG		159		02/21/20	USD	223.00	USD	32		(68	)
Lowe’s Cos., Inc.	Nomura International Plc		189		02/21/20	USD	130.00	USD	22		(1	)
QUALCOMM, Inc.	Citibank N.A.		170		02/21/20	USD	100.00	USD	15		(50	)

6

Consolidated Schedule of Investments  (unaudited) (continued) January 31, 2020 BlackRock GA Dynamic Equity Fund

OTC Options Written (continued)

Description	Counterparty	Number of Contracts		Expiration Date		Exercise Price			Notional Amount (000)			Value
Alibaba Group Holding Ltd. — ADR	Citibank N.A.		44		03/20/20		USD	235.00		USD	9	$	(78	)
BP PLC — ADR	Credit Suisse International		503		03/20/20		USD	43.00		USD	18		(4	)
Bristol-Myers Squibb Co.	Nomura International Plc		90		03/20/20		USD	65.00		USD	6		(126	)
Emerson Electric Co.	Citibank N.A.		379		03/20/20		USD	88.00		USD	27		—
Home Depot, Inc.	Nomura International Plc		104		03/20/20		USD	240.00		USD	24		(312	)
McDonald’s Corp.	Nomura International Plc		102		03/20/20		USD	216.00		USD	22		(342	)
Apple, Inc.	UBS AG		46		04/17/20		USD	345.00		USD	14		(195	)
Lowe’s Cos., Inc.	Nomura International Plc		113		04/17/20		USD	135.00		USD	13		(63	)
Comcast Corp., Class A	Citibank N.A.		496		06/19/20		USD	40.00		USD	21		(2,207	)
													(3,584	)
Put
Agilent Technologies, Inc.	UBS AG		110		02/21/20		USD	77.50		USD	9		(98	)
Lowe’s Cos., Inc.	Nomura International Plc		98		02/21/20		USD	112.00		USD	11		(105	)
Walt Disney Co.	Citibank N.A.		118		02/21/20		USD	130.00		USD	16		(159	)
Emerson Electric Co.	Citibank N.A.		190		03/20/20		USD	65.00		USD	14		(157	)
Home Depot, Inc.	Nomura International Plc		52		03/20/20		USD	205.00		USD	12		(84	)
													(603	)
												$	(4,187	)

OTC Total Return Swaps^(a)

Reference Entity	Counterparty	Termination Date		Net Notional				Unrealized Appreciation (Depreciation)			Net Value of Reference Entity			Gross Notional Amount Net Asset Percentage
Equity Securities Short	JPMorgan Chase Bank N.A.		02/08/23		USD	(21,616	)	$	1,996	(b)	$	(19,637	)		(0.3	)%

^(a)  In regards to total return swaps with multiple financing rate benchmarks, the Fund receives or pays the total return on a portfolio of short positions underlying the total return swap. In addition, the Fund pays or receives a variable rate of interest, based on a specified benchmark, plus or minus a spread in a range of 18-28 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The following are the specified benchmarks used in determining the variable rate of interest:

USD — 1D Overnight Bank Funding Rate (OBFR01)

^(b)  Amount includes $17 of net dividends and financing fees.

The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with JPMorgan Chase Bank N.A. as of January 31, 2020 expiration date 02/08/2023:

	Shares			Value			% of Basket Value
Reference Entity — Short
United States
3M Co.		(64	)	$	(10,154	)		51.7	%
NetFlix, Inc.		(17	)		(5,866	)		29.9	%

	Shares			Value			% of Basket Value
United States (continued)
TUI AG		(353	)		(3,617	)		18.4
Total Reference Entity — Short					(19,637	)
Net Value of Reference Entity — JPMorgan Chase Bank N.A				$	(19,637	)

7

Consolidated Schedule of Investments  (unaudited) (continued) January 31, 2020 BlackRock GA Dynamic Equity Fund

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative 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)

• 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 investments and derivative 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 investments and derivative financial instruments is based on the pricing transparency of the investments and derivative 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 investments and derivative financial instruments, refer to the Fund’s most recent financial statements as contained in its annual report.

The following tables summarize the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy:

	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Common Stocks:
Argentina	$	188	$	—	$	—	$	188
Austria		—		6,205		—		6,205
Belgium		—		9,025		—		9,025
Brazil		44,696		—		—		44,696
Canada		53,062		—		—		53,062
Chile		1,871		—		—		1,871
China		93,479		195,064		—		288,543
Czech Republic		3,088		—		—		3,088
Finland		15,360		—		—		15,360
France		10,960		206,590		—		217,550
Germany		35,070		123,563		—		158,633
Hong Kong		—		68,287		—		68,287
Indonesia		—		5,199		—		5,199
Italy		—		150,933		—		150,933
Japan		—		334,146		—		334,146
Netherlands		20,551		169,368		—		189,919
Portugal		—		3,390		—		3,390
Singapore		—		53,910		—		53,910
South Korea		2,505		16,958		—		19,463
Spain		—		30,090		—		30,090
Switzerland		—		117,433		—		117,433
Taiwan		3,542		116,791		—		120,333

8

Consolidated Schedule of Investments  (unaudited) (continued) January 31, 2020 BlackRock GA Dynamic Equity Fund

Fair Value Hierarchy as of Period End (continued)

	Level 1		Level 2		Level 3		Total
Common Stocks (continued):
Thailand		4,331		11,699		—		16,030
United Arab Emirates		—		8,571		—		8,571
United Kingdom		5,426		149,334		—		154,760
United States		3,517,613		12,303		—		3,529,916
Investment Companies		10,054		—		—		10,054
Options Purchased
Equity Contracts		287		4,408		—		4,695
Preferred Stocks(a)		4,981		31,325		—		36,306
Short-Term Securities		305,544		—		—		305,544
		$4,132,608		$1,824,592		$            —		$5,957,200
Derivative Financial Instruments(b)
Assets:
Equity contracts		$5,179		$—		$—		$5,179
Forward foreign currency contracts		—		10,436		—		10,436
Liabilities:
Equity contracts		(6,796)		(2,191)		—		(8,987)
Forward foreign currency contracts		—		(6,656)		—		(6,656)
		$(1,617)		$1,589		$—		$(28)

^(a)  See above Schedule of Investments for values in each country.

^(b)  Derivative financial instruments are futures contracts, forward foreign currency exchange contracts, and options written. Futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value.

9