| Schedule of Investments (unaudited) July 31, 2021 |
BlackRock GA Disciplined Volatility Equity Fund (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Common Stocks |
| |||||||
| Belgium — 0.2% | ||||||||
| Etablissements Franz Colruyt NV. |
227 | $ | 12,907 | |||||
| Proximus SADP |
103 | 2,116 | ||||||
|
|
|
|||||||
| 15,023 | ||||||||
| Canada — 2.2% | ||||||||
| Agnico Eagle Mines Ltd. |
10 | 647 | ||||||
| CGI, Inc.(a) |
274 | 24,925 | ||||||
| Empire Co. Ltd., Class A |
282 | 9,260 | ||||||
| Franco-Nevada Corp. |
287 | 45,905 | ||||||
| Loblaw Cos. Ltd. |
395 | 26,722 | ||||||
| Shopify, Inc., Class A(a) |
3 | 4,500 | ||||||
| TELUS Corp. |
92 | 2,043 | ||||||
| Thomson Reuters Corp. |
457 | 48,425 | ||||||
|
|
|
|||||||
| 162,427 | ||||||||
| China — 2.5% | ||||||||
| Agricultural Bank of China Ltd., Class H |
76,000 | 25,344 | ||||||
| Alibaba Group Holding Ltd.(a) |
100 | 2,442 | ||||||
| Alibaba Group Holding Ltd., ADR(a) |
11 | 2,147 | ||||||
| Bank of Communications Co. Ltd., Class H |
31,000 | 17,932 | ||||||
| China Construction Bank Corp., Class H |
44,000 | 30,648 | ||||||
| China Feihe Ltd.(b) |
5,000 | 9,612 | ||||||
| China Tower Corp. Ltd., Class H(b) |
102,000 | 13,531 | ||||||
| Chow Tai Fook Jewellery Group Ltd. |
800 | 1,677 | ||||||
| Hansoh Pharmaceutical Group Co. Ltd.(b) |
4,000 | 14,335 | ||||||
| Industrial & Commercial Bank of China Ltd., Class H |
40,000 | 22,212 | ||||||
| Lenovo Group Ltd. |
14,000 | 13,055 | ||||||
| NetEase, Inc., ADR |
94 | 9,608 | ||||||
| Postal Savings Bank of China Co. Ltd., Class H(b) |
3,000 | 1,938 | ||||||
| Tencent Holdings Ltd. |
200 | 12,061 | ||||||
| Yadea Group Holdings Ltd.(b) |
4,000 | 6,884 | ||||||
|
|
|
|||||||
| 183,426 | ||||||||
| Denmark — 2.2% | ||||||||
| Coloplast A/S, Class B |
110 | 20,115 | ||||||
| DSV Panalpina A/S |
183 | 44,609 | ||||||
| Genmab A/S(a) |
59 | 26,667 | ||||||
| Novo Nordisk A/S, Class B |
300 | 27,771 | ||||||
| Pandora A/S |
329 | 42,559 | ||||||
|
|
|
|||||||
| 161,721 | ||||||||
| Finland — 0.1% | ||||||||
| Elisa OYJ |
91 | 5,849 | ||||||
|
|
|
|||||||
| France — 2.5% | ||||||||
| BNP Paribas SA |
561 | 34,209 | ||||||
| EssilorLuxottica SA |
123 | 23,220 | ||||||
| Hermes International |
11 | 16,817 | ||||||
| Kering SA |
35 | 31,400 | ||||||
| LVMH Moet Hennessy Louis Vuitton SE |
2 | 1,601 | ||||||
| Orange SA |
2,064 | 22,970 | ||||||
| Safran SA |
65 | 8,507 | ||||||
| Sanofi |
255 | 26,284 | ||||||
| Societe Generale SA |
396 | 11,597 | ||||||
| Worldline SA(a)(b) |
83 | 7,769 | ||||||
|
|
|
|||||||
| 184,374 | ||||||||
| Germany — 0.2% | ||||||||
| CTS Eventim AG & Co. KGaA(a) |
108 | 7,338 | ||||||
| Deutsche Telekom AG, Registered Shares |
58 | 1,204 | ||||||
| Security | Shares | Value | ||||||
| Germany (continued) | ||||||||
| Rational AG |
4 | $ | 4,356 | |||||
| Telefonica Deutschland Holding AG |
1,030 | 2,776 | ||||||
|
|
|
|||||||
| 15,674 | ||||||||
| Hong Kong — 1.5% | ||||||||
| CLP Holdings Ltd. |
3,500 | 36,090 | ||||||
| Guangdong Investment Ltd. |
2,000 | 2,799 | ||||||
| Hang Seng Bank Ltd. |
500 | 9,576 | ||||||
| HKT Trust & HKT Ltd., Class SS |
10,000 | 13,593 | ||||||
| Hong Kong & China Gas Co. Ltd. |
9,350 | 15,206 | ||||||
| Jardine Matheson Holdings Ltd. |
100 | 5,949 | ||||||
| Power Assets Holdings Ltd. |
3,500 | 22,628 | ||||||
|
|
|
|||||||
| 105,841 | ||||||||
| Ireland — 1.0% | ||||||||
| Accenture PLC, Class A |
106 | 33,674 | ||||||
| Medtronic PLC |
295 | 38,737 | ||||||
|
|
|
|||||||
| 72,411 | ||||||||
| Italy — 1.0% | ||||||||
| DiaSorin SpA |
118 | 23,949 | ||||||
| Ferrari NV |
187 | 40,754 | ||||||
| Infrastrutture Wireless Italiane SpA(b) |
573 | 6,473 | ||||||
|
|
|
|||||||
| 71,176 | ||||||||
| Japan — 6.8% | ||||||||
| Ajinomoto Co., Inc. |
100 | 2,548 | ||||||
| Canon, Inc. |
600 | 13,817 | ||||||
| Chugai Pharmaceutical Co. Ltd. |
400 | 14,740 | ||||||
| GMO Payment Gateway, Inc. |
200 | 25,709 | ||||||
| KDDI Corp. |
100 | 3,058 | ||||||
| Kirin Holdings Co. Ltd. |
1,900 | 34,752 | ||||||
| Kose Corp. |
100 | 15,801 | ||||||
| Lawson, Inc. |
600 | 30,156 | ||||||
| Mitsubishi Estate Co. Ltd. |
1,100 | 17,256 | ||||||
| Mizuho Financial Group, Inc. |
2,110 | 30,151 | ||||||
| NEC Corp. |
900 | 45,645 | ||||||
| Nippon Telegraph & Telephone Corp. |
2,200 | 56,338 | ||||||
| Ono Pharmaceutical Co. Ltd. |
700 | 15,980 | ||||||
| Oracle Corp. Japan |
400 | 29,880 | ||||||
| Pan Pacific International Holdings Corp. |
200 | 4,175 | ||||||
| Recruit Holdings Co. Ltd. |
500 | 25,915 | ||||||
| SG Holdings Co. Ltd. |
100 | 2,689 | ||||||
| Softbank Corp. |
1,600 | 20,898 | ||||||
| Sony Group Corp. |
100 | 10,447 | ||||||
| Suntory Beverage & Food Ltd. |
800 | 28,050 | ||||||
| Takeda Pharmaceutical Co. Ltd. |
400 | 13,315 | ||||||
| Toho Gas Co. Ltd. |
100 | 4,861 | ||||||
| Toyo Suisan Kaisha Ltd. |
600 | 22,906 | ||||||
| Yamada Holdings Co. Ltd. |
5,100 | 24,095 | ||||||
|
|
|
|||||||
| 493,182 | ||||||||
| Luxembourg — 0.5% | ||||||||
| ArcelorMittal SA |
1,012 | 35,344 | ||||||
| Eurofins Scientific SE |
11 | 1,316 | ||||||
|
|
|
|||||||
| 36,660 | ||||||||
| Netherlands — 1.4% | ||||||||
| Koninklijke Ahold Delhaize NV |
1,682 | 52,285 | ||||||
| QIAGEN NV(a) |
899 | 48,120 | ||||||
|
|
|
|||||||
| 100,405 | ||||||||
| Norway — 0.3% | ||||||||
| Telenor ASA |
1,255 | 21,789 | ||||||
|
|
|
|||||||
|
S C H E D U L E O F I N V E S T M E N T S |
1 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock GA Disciplined Volatility Equity Fund (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| Singapore — 0.3% | ||||||||
| Singapore Telecommunications Ltd. |
13,700 | $ | 22,962 | |||||
|
|
|
|||||||
| South Korea — 1.1% | ||||||||
| Kakao Corp. |
451 | 57,735 | ||||||
| LG Chem Ltd. |
9 | 6,611 | ||||||
| SK Telecom Co. Ltd. |
68 | 17,811 | ||||||
|
|
|
|||||||
| 82,157 | ||||||||
| Sweden — 1.8% | ||||||||
| Epiroc AB, Class A |
1,173 | 27,325 | ||||||
| Hexagon AB, B Shares |
2,800 | 46,350 | ||||||
| Swedbank AB, A Shares |
1,164 | 22,667 | ||||||
| Telia Co. AB |
2,769 | 12,146 | ||||||
| Volvo AB, B Shares |
1,004 | 23,676 | ||||||
|
|
|
|||||||
| 132,164 | ||||||||
| Switzerland — 6.2% | ||||||||
| EMS-Chemie Holding AG, Registered Shares |
22 | 24,388 | ||||||
| Givaudan SA, Registered Shares |
1 | 4,991 | ||||||
| Kuehne + Nagel International AG, Registered Shares |
166 | 55,997 | ||||||
| Logitech International SA, Registered Shares |
213 | 23,402 | ||||||
| Lonza Group AG, Registered Shares |
49 | 38,153 | ||||||
| Nestle SA, Registered Shares |
514 | 65,088 | ||||||
| Novartis AG, Registered Shares |
262 | 24,229 | ||||||
| Partners Group Holding AG |
23 | 39,292 | ||||||
| Roche Holding AG |
92 | 35,627 | ||||||
| Sika AG, Registered Shares |
123 | 43,329 | ||||||
| Sonova Holding AG, Registered Shares |
82 | 32,196 | ||||||
| STMicroelectronics NV |
210 | 8,636 | ||||||
| Straumann Holding AG, Registered Shares |
27 | 50,059 | ||||||
| Swisscom AG, Registered Shares |
7 | 4,207 | ||||||
|
|
|
|||||||
| 449,594 | ||||||||
| Taiwan — 3.2% | ||||||||
| Acer, Inc. |
22,000 | 21,477 | ||||||
| Asustek Computer, Inc. |
2,000 | 25,145 | ||||||
| AU Optronics Corp. |
23,000 | 17,049 | ||||||
| Chang Hwa Commercial Bank Ltd. |
4,449 | 2,637 | ||||||
| China Development Financial Holding Corp. |
42,000 | 21,230 | ||||||
| China Steel Corp. |
14,000 | 18,258 | ||||||
| Chunghwa Telecom Co. Ltd. |
4,000 | 16,506 | ||||||
| CTBC Financial Holding Co. Ltd. |
3,000 | 2,457 | ||||||
| Lite-On Technology Corp. |
19,000 | 43,670 | ||||||
| Mega Financial Holding Co. Ltd. |
5,000 | 5,922 | ||||||
| Novatek Microelectronics Corp. |
1,000 | 18,395 | ||||||
| Quanta Computer, Inc. |
1,000 | 2,770 | ||||||
| Synnex Technology International Corp. |
1,000 | 1,899 | ||||||
| Taiwan Cooperative Financial Holding Co. Ltd. |
49,481 | 38,681 | ||||||
|
|
|
|||||||
| 236,096 | ||||||||
| United Kingdom — 1.9% | ||||||||
| AstraZeneca PLC |
181 | 20,799 | ||||||
| Auto Trader Group PLC(a)(b) |
2,607 | 23,620 | ||||||
| Berkeley Group Holdings PLC |
513 | 34,539 | ||||||
| Ferguson PLC |
243 | 34,066 | ||||||
| Spirax-Sarco Engineering PLC |
136 | 28,335 | ||||||
|
|
|
|||||||
| 141,359 | ||||||||
| United States — 57.0% | ||||||||
| Abbott Laboratories |
403 | 48,755 | ||||||
| Activision Blizzard, Inc. |
189 | 15,804 | ||||||
| Adaptive Biotechnologies Corp.(a) |
385 | 14,114 | ||||||
| Adobe, Inc.(a) |
17 | 10,568 | ||||||
| Air Products & Chemicals, Inc. |
90 | 26,193 | ||||||
| Alnylam Pharmaceuticals, Inc.(a) |
28 | 5,010 | ||||||
| Security | Shares | Value | ||||||
| United States (continued) | ||||||||
| Alphabet, Inc., Class C(a) |
40 | $ | 108,177 | |||||
| Altair Engineering, Inc., Class A(a) |
685 | 47,786 | ||||||
| Amazon.com, Inc.(a) |
14 | 46,586 | ||||||
| American Electric Power Co., Inc. |
14 | 1,234 | ||||||
| American Tower Corp. |
190 | 53,732 | ||||||
| American Water Works Co., Inc. |
180 | 30,620 | ||||||
| Amgen, Inc. |
198 | 47,825 | ||||||
| Anthem, Inc. |
20 | 7,680 | ||||||
| Aon PLC, Class A |
82 | 21,322 | ||||||
| Applied Materials, Inc. |
450 | 62,969 | ||||||
| AT&T, Inc. |
377 | 10,575 | ||||||
| Automatic Data Processing, Inc. |
15 | 3,144 | ||||||
| AutoZone, Inc.(a) |
25 | 40,589 | ||||||
| Ball Corp. |
17 | 1,375 | ||||||
| Bath & Body Works, Inc. |
62 | 4,964 | ||||||
| Baxter International, Inc. |
784 | 60,642 | ||||||
| Berkshire Hathaway, Inc., Class B(a) |
194 | 53,988 | ||||||
| BigCommerce Holdings, Inc., Series-1(a) |
157 | 10,167 | ||||||
| Bio-Rad Laboratories, Inc., Class A(a) |
13 | 9,614 | ||||||
| Booz Allen Hamilton Holding Corp. |
334 | 28,661 | ||||||
| Boston Scientific Corp.(a) |
174 | 7,934 | ||||||
| C.H. Robinson Worldwide, Inc. |
347 | 30,942 | ||||||
| Cadence Design Systems, Inc.(a) |
171 | 25,248 | ||||||
| CareDx, Inc.(a) |
71 | 5,967 | ||||||
| Castle Biosciences, Inc.(a) |
38 | 2,654 | ||||||
| Cboe Global Markets, Inc. |
200 | 23,694 | ||||||
| Charter Communications, Inc., Class A(a) |
78 | 58,036 | ||||||
| Cigna Corp. |
35 | 8,032 | ||||||
| Cisco Systems, Inc. |
518 | 28,682 | ||||||
| Citrix Systems, Inc. |
281 | 28,311 | ||||||
| Clorox Co. |
108 | 19,536 | ||||||
| CME Group, Inc. |
193 | 40,941 | ||||||
| Cognizant Technology Solutions Corp., Class A |
268 | 19,706 | ||||||
| Colgate-Palmolive Co. |
179 | 14,231 | ||||||
| Comcast Corp., Class A |
114 | 6,707 | ||||||
| Consolidated Edison, Inc. |
364 | 26,852 | ||||||
| Costco Wholesale Corp. |
92 | 39,534 | ||||||
| Coupa Software, Inc.(a) |
15 | 3,255 | ||||||
| Crowdstrike Holdings, Inc., Class A(a) |
234 | 59,345 | ||||||
| Crown Castle International Corp. |
264 | 50,976 | ||||||
| Danaher Corp. |
32 | 9,520 | ||||||
| DocuSign, Inc.(a) |
74 | 22,055 | ||||||
| Dollar General Corp. |
45 | 10,469 | ||||||
| Dominion Energy, Inc. |
183 | 13,701 | ||||||
| Domino’s Pizza, Inc. |
27 | 14,188 | ||||||
| Duke Energy Corp. |
25 | 2,628 | ||||||
| Duke Realty Corp. |
128 | 6,513 | ||||||
| Dynatrace, Inc.(a) |
458 | 29,252 | ||||||
| Edwards Lifesciences Corp.(a) |
57 | 6,399 | ||||||
| Electronic Arts, Inc. |
347 | 49,954 | ||||||
| Eli Lilly & Co. |
89 | 21,672 | ||||||
| Expedia Group, Inc.(a) |
145 | 23,326 | ||||||
| Expeditors International of Washington, Inc. |
72 | 9,234 | ||||||
| Extra Space Storage, Inc. |
102 | 17,762 | ||||||
| F5 Networks, Inc.(a) |
18 | 3,717 | ||||||
| Facebook, Inc., Class A(a) |
24 | 8,551 | ||||||
| Fair Isaac Corp.(a) |
21 | 11,002 | ||||||
| Fiserv, Inc.(a) |
63 | 7,252 | ||||||
| Fortune Brands Home & Security, Inc. |
258 | 25,147 | ||||||
| Genuine Parts Co. |
310 | 39,345 | ||||||
| Gilead Sciences, Inc. |
495 | 33,804 | ||||||
| Global Payments, Inc. |
313 | 60,537 | ||||||
| 2 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock GA Disciplined Volatility Equity Fund (Percentages shown are based on Net Assets) |
| Security | Shares | Value | ||||||
| United States (continued) | ||||||||
| Hilton Worldwide Holdings, Inc.(a) |
243 | $ | 31,942 | |||||
| Home Depot, Inc. |
89 | 29,209 | ||||||
| Hormel Foods Corp. |
297 | 13,775 | ||||||
| Humana, Inc. |
63 | 26,829 | ||||||
| IAA, Inc.(a) |
26 | 1,573 | ||||||
| Intel Corp. |
1,001 | 53,774 | ||||||
| Intuit, Inc. |
38 | 20,139 | ||||||
| Jack Henry & Associates, Inc. |
50 | 8,705 | ||||||
| Johnson & Johnson |
217 | 37,367 | ||||||
| JPMorgan Chase & Co. |
41 | 6,223 | ||||||
| Kellogg Co. |
109 | 6,906 | ||||||
| Keysight Technologies, Inc.(a) |
144 | 23,695 | ||||||
| Kimberly-Clark Corp. |
50 | 6,786 | ||||||
| Kroger Co. |
1,499 | 61,009 | ||||||
| Lam Research Corp. |
7 | 4,462 | ||||||
| Las Vegas Sands Corp.(a) |
381 | 16,135 | ||||||
| Lowe’s Cos., Inc. |
289 | 55,687 | ||||||
| MarketAxess Holdings, Inc. |
17 | 8,078 | ||||||
| Marsh & McLennan Cos., Inc. |
339 | 49,908 | ||||||
| Masco Corp. |
567 | 33,856 | ||||||
| Masimo Corp.(a) |
115 | 31,325 | ||||||
| Mastercard, Inc., Class A |
185 | 71,399 | ||||||
| McCormick & Co., Inc. |
245 | 20,622 | ||||||
| McDonald’s Corp. |
111 | 26,941 | ||||||
| Merck & Co., Inc. |
422 | 32,439 | ||||||
| Micron Technology, Inc.(a) |
535 | 41,505 | ||||||
| Microsoft Corp. |
434 | 123,651 | ||||||
| Motorola Solutions, Inc. |
88 | 19,705 | ||||||
| Netflix, Inc.(a) |
85 | 43,993 | ||||||
| New Relic, Inc.(a) |
504 | 34,816 | ||||||
| Newmont Corp. |
511 | 32,101 | ||||||
| NextEra Energy, Inc. |
644 | 50,168 | ||||||
| NIKE, Inc., Class B |
182 | 30,487 | ||||||
| Old Dominion Freight Line, Inc. |
126 | 33,913 | ||||||
| Oracle Corp. |
47 | 4,096 | ||||||
| O’Reilly Automotive, Inc.(a) |
42 | 25,361 | ||||||
| PayPal Holdings, Inc.(a) |
57 | 15,705 | ||||||
| PepsiCo, Inc. |
702 | 110,179 | ||||||
| Pfizer, Inc. |
399 | 17,081 | ||||||
| Pool Corp. |
29 | 13,857 | ||||||
| Procter & Gamble Co. |
5 | 711 | ||||||
| Public Storage |
65 | 20,311 | ||||||
| Qualcomm, Inc. |
334 | 50,033 | ||||||
| Regeneron Pharmaceuticals, Inc.(a) |
70 | 40,223 | ||||||
| Republic Services, Inc. |
245 | 28,998 | ||||||
| RH(a) |
3 | 1,992 | ||||||
| S&P Global, Inc. |
17 | 7,288 | ||||||
| salesforce.com, Inc.(a) |
290 | 70,160 | ||||||
| Southern Co. |
438 | 27,975 | ||||||
| Square, Inc., Class A(a) |
80 | 19,781 | ||||||
| Stryker Corp. |
87 | 23,572 | ||||||
| Take-Two Interactive Software, Inc.(a) |
8 | 1,387 | ||||||
| Security | Shares | Value | ||||||
| United States (continued) | ||||||||
| Target Corp. |
139 | $ | 36,286 | |||||
| Thermo Fisher Scientific, Inc. |
45 | 24,300 | ||||||
| TJX Cos., Inc. |
331 | 22,776 | ||||||
| TransDigm Group, Inc.(a) |
122 | 78,213 | ||||||
| Twilio, Inc., Class A(a) |
10 | 3,736 | ||||||
| Tyler Technologies, Inc.(a) |
20 | 9,853 | ||||||
| U.S. Bancorp |
504 | 27,992 | ||||||
| UnitedHealth Group, Inc. |
228 | 93,986 | ||||||
| Veracyte, Inc.(a) |
116 | 5,169 | ||||||
| VeriSign, Inc.(a) |
227 | 49,116 | ||||||
| Verisk Analytics, Inc. |
185 | 35,139 | ||||||
| Verizon Communications, Inc. |
1,374 | 76,642 | ||||||
| Vertex Pharmaceuticals, Inc.(a) |
132 | 26,609 | ||||||
| Viatris, Inc. |
19 | 267 | ||||||
| Visa, Inc., Class A |
46 | 11,334 | ||||||
| Walmart, Inc. |
216 | 30,791 | ||||||
| Walt Disney Co.(a) |
473 | 83,258 | ||||||
| Waste Connections, Inc. |
111 | 14,063 | ||||||
| Waste Management, Inc. |
235 | 34,841 | ||||||
| WEC Energy Group, Inc. |
298 | 28,054 | ||||||
| West Pharmaceutical Services, Inc. |
21 | 8,646 | ||||||
| Western Union Co. |
1,071 | 24,858 | ||||||
| Weyerhaeuser Co. |
702 | 23,678 | ||||||
| Workday, Inc., Class A(a) |
180 | 42,192 | ||||||
| Xcel Energy, Inc. |
60 | 4,095 | ||||||
| Xilinx, Inc. |
274 | 41,056 | ||||||
| Zentalis Pharmaceuticals, Inc.(a) |
204 | 10,855 | ||||||
| Zoetis, Inc. |
103 | 20,878 | ||||||
| Zoom Video Communications, Inc., Class A(a) |
63 | 23,820 | ||||||
|
|
|
|||||||
| 4,159,041 | ||||||||
|
|
|
|||||||
| Total Long-Term Investments — 93.9% |
|
6,853,331 | ||||||
|
|
|
|||||||
| Short-Term Securities |
| |||||||
| Money Market Funds — 6.9% | ||||||||
| BlackRock Liquidity Funds, T-Fund, Institutional Class , 0.01%(c)(d) |
502,519 | 502,519 | ||||||
|
|
|
|||||||
| Total Short-Term Securities — 6.9% |
|
502,519 | ||||||
|
|
|
|||||||
| Total Investments — 100.8% |
|
7,355,850 | ||||||
| Liabilities in Excess of Other Assets — (0.8)% |
(60,161 | ) | ||||||
|
|
|
|||||||
| Net Assets — 100.0% |
|
$ | 7,295,689 | |||||
|
|
|
|||||||
| (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) | Affiliate of the Fund. |
| (d) | Annualized 7-day yield as of period end. |
|
S C H E D U L E O F I N V E S T M E N T S |
3 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock GA Disciplined Volatility Equity Fund |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended July 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliated Issuer | Value at 04/30/21 |
Purchases at Cost |
Proceeds from Sales |
Net Realized Gain (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Value at 07/31/21 |
Shares Held at 07/31/21 |
Income | Capital Gain Distributions from Underlying Funds |
|||||||||||||||||||||||||||
| BlackRock Liquidity Funds, T-Fund, Institutional Class |
$ | 208,274 | $ | 294,245 | (a) | $ | — | $ | — | $ | — | $ | 502,519 | 502,519 | $ | 5 | $ | — | ||||||||||||||||||
| iShares Gold Trust(b) |
8,661 | — | (9,225 | ) | 1,519 | (955 | ) | — | — | — | — | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||
| $ | 1,519 | $ | (955 | ) | $ | 502,519 | $ | 5 | $ | — | ||||||||||||||||||||||||||
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| (a) | Represents net amount purchased (sold). |
| (b) | As of period end, the entity is no longer held. |
Derivative Financial Instruments Outstanding as of Period End
Futures Contracts
| Description | Number of Contracts |
Expiration Date |
Notional Amount (000) |
Value/ Unrealized Appreciation (Depreciation) |
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| Long Contracts | ||||||||||||||||
| SGX Nifty 50 Index |
7 | 08/26/21 | $ | 221 | $ | (209 | ) | |||||||||
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Forward Foreign Currency Exchange Contracts
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) |
||||||||||||||||||||||||||
| CHF |
109,000 | USD | 121,935 | Morgan Stanley & Co. International PLC | 09/10/21 | $ | (1,490 | ) | ||||||||||||||||||||||
| JPY |
22,450,000 | USD | 204,926 | Morgan Stanley & Co. International PLC | 09/10/21 | (227 | ) | |||||||||||||||||||||||
| INR |
7,812,000 | USD | 106,062 | BNP Paribas S.A. | 09/17/21 | (1,554 | ) | |||||||||||||||||||||||
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| $ | (3,271 | ) | ||||||||||||||||||||||||||||
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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
| 4 |
| Schedule of Investments (unaudited) (continued) July 31, 2021 |
BlackRock GA Disciplined Volatility Equity Fund |
Fair Value Hierarchy as of Period End (continued)
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 |
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| Investments |
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| Long-Term Investments |
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| Common Stocks |
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| Belgium |
$ | — | $ | 15,023 | $ | — | $ | 15,023 | ||||||||
| Canada |
162,427 | — | — | 162,427 | ||||||||||||
| China |
11,755 | 171,671 | — | 183,426 | ||||||||||||
| Denmark |
— | 161,721 | — | 161,721 | ||||||||||||
| Finland |
— | 5,849 | — | 5,849 | ||||||||||||
| France |
— | 184,374 | — | 184,374 | ||||||||||||
| Germany |
— | 15,674 | — | 15,674 | ||||||||||||
| Hong Kong |
— | 105,841 | — | 105,841 | ||||||||||||
| Ireland |
72,411 | — | — | 72,411 | ||||||||||||
| Italy |
— | 71,176 | — | 71,176 | ||||||||||||
| Japan |
— | 493,182 | — | 493,182 | ||||||||||||
| Luxembourg |
— | 36,660 | — | 36,660 | ||||||||||||
| Netherlands |
3,959 | 96,446 | — | 100,405 | ||||||||||||
| Norway |
— | 21,789 | — | 21,789 | ||||||||||||
| Singapore |
— | 22,962 | — | 22,962 | ||||||||||||
| South Korea |
— | 82,157 | — | 82,157 | ||||||||||||
| Sweden |
46,350 | 85,814 | — | 132,164 | ||||||||||||
| Switzerland |
— | 449,594 | — | 449,594 | ||||||||||||
| Taiwan |
— | 236,096 | — | 236,096 | ||||||||||||
| United Kingdom |
— | 141,359 | — | 141,359 | ||||||||||||
| United States |
4,159,041 | — | — | 4,159,041 | ||||||||||||
| Short-Term Securities |
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| Money Market Funds |
502,519 | — | — | 502,519 | ||||||||||||
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| $ | 4,958,462 | $ | 2,397,388 | $ | — | $ | 7,355,850 | |||||||||
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| Derivative Financial Instruments(a) |
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| Liabilities |
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| Equity Contracts |
$ | (209 | ) | $ | — | $ | — | $ | (209 | ) | ||||||
| Foreign Currency Exchange Contracts |
— | (3,271 | ) | — | (3,271 | ) | ||||||||||
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| $ | (209 | ) | $ | (3,271 | ) | $ | — | $ | (3,480 | ) | ||||||
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| (a) | Derivative financial instruments are futures contracts and forward foreign currency exchange contracts. Futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
| Currency Abbreviation | ||
| CHF | Swiss Franc | |
| INR | Indian Rupee | |
| JPY | Japanese Yen | |
| USD | United States Dollar | |
|
S C H E D U L E O F I N V E S T M E N T S |
5 |