NPORT-EX 2 NPORT_LCNF_81954878_0922.htm DOS

Schedule of Investments (unaudited)

September 30, 2022

   

BlackRock EuroFund

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

    

Belgium — 2.0%

    

Azelis Group NV

     43,704     $ 972,172  

KBC Group NV

     12,049       571,773  
   

 

 

  
      1,543,945  

Denmark — 2.5%

    

DSV A/S

     16,258       1,904,583  
   

 

 

  

Finland — 2.4%

    

Metso Outotec OYJ

     88,984       590,104  

Neste OYJ

     28,750       1,253,198  
   

 

 

  
      1,843,302  

France — 38.1%

    

Airbus SE

     26,123       2,251,812  

BNP Paribas SA

     54,334       2,295,026  

Dassault Systemes SE

     24,440       843,792  

Legrand SA

     20,917       1,352,474  

LVMH Moet Hennessy Louis Vuitton SE

     11,828       6,973,489  

Pernod Ricard SA

     12,507       2,294,460  

Sanofi

     20,942       1,594,660  

Sartorius Stedim Biotech

     5,227       1,603,312  

Schneider Electric SE

     28,782       3,250,949  

Teleperformance

     8,029       2,036,827  

TotalEnergies SE

     53,644       2,516,684  

Vinci SA

     24,463       1,978,096  
   

 

 

  
      28,991,581  

Germany — 15.6%

    

Commerzbank AG(a)

    141,871       1,009,981  

CTS Eventim AG & Co. KGaA(a)

    23,817       979,876  

Merck KGaA

     13,987       2,264,227  

MTU Aero Engines AG

     10,467       1,564,340  

Puma SE

     22,554       1,043,350  

Rational AG

     1,296       627,681  

Siemens AG, Registered Shares

     28,506       2,786,258  

Symrise AG

     16,168       1,576,580  
   

 

 

  
      11,852,293  

Ireland — 1.0%

    

Kingspan Group PLC

     16,850       759,169  
   

 

 

  

Italy — 5.8%

    

Ferrari NV

     8,262       1,530,005  

FinecoBank Banca Fineco SpA

     146,478       1,809,075  

Moncler SpA

     26,949       1,100,180  
   

 

 

  
      4,439,260  

Netherlands — 17.9%

    

Adyen NV(a)(b)

    936       1,167,343  

ASM International NV

     9,110       2,039,793  

ASML Holding NV

     13,426       5,562,107  

BE Semiconductor Industries NV

     12,536       536,670  

IMCD NV

     16,963       2,011,159  

QIAGEN NV(a)

    28,043       1,167,837  

Universal Music Group NV

     63,480       1,188,983  
   

 

 

  
      13,673,892  
Security   Shares     Value  

Portugal — 1.9%

    

EDP - Energias de Portugal SA

     330,979     $ 1,436,453  
   

 

 

  

Spain — 1.7%

    

CaixaBank SA

     397,271       1,279,560  
   

 

 

  

Sweden — 1.2%

    

Beijer Ref AB

     73,297       901,275  
   

 

 

  

Switzerland — 3.1%

    

Sika AG, Registered Shares

     2,709       544,486  

STMicroelectronics NV

     58,089       1,805,247  
   

 

 

  
      2,349,733  

United Kingdom — 4.9%

    

Allfunds Group PLC

     94,409       689,954  

Linde PLC(a)(c)

    7,973       2,158,551  

RELX PLC

     37,617       919,199  
   

 

 

  
      3,767,704  
   

 

 

  

Total Long-Term Investments — 98.1%
(Cost: $75,262,485)

 

     74,742,750  
   

 

 

  

Short-Term Securities

 

Money Market Funds — 3.9%

    

BlackRock Liquidity Funds, T-Fund, Institutional Class, 2.79%(d)(e)

    451,783       451,783  

SL Liquidity Series, LLC, Money Market Series, 3.29%(c)(d)(e)

     2,512,751       2,512,751  
   

 

 

  
      2,964,534  
   

 

 

  
    

Par

(000)

         

Time Deposits — 0.4%

    

United States — 0.4%

    

Citibank, New York, (0.13%), 10/01/22

   EUR  311       304,808  
   

 

 

  

Total Short-Term Securities — 4.3%
(Cost: $3,269,032)

       3,269,342  
   

 

 

  

Total Investments — 102.4%
(Cost: $78,531,517)

 

     78,012,092  

Liabilities in Excess of Other Assets — (2.4)%

 

     (1,832,748 ) 
   

 

 

  

Net Assets — 100.0%

     $ 76,179,344  
   

 

 

  

 

(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) 

All or a portion of this security is on loan.

(d) 

Affiliate of the Fund.

(e) 

Annualized 7-day yield as of period end.

 

 

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Schedule of Investments (unaudited) (continued)

September 30, 2022

   

BlackRock EuroFund

 

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended September 30, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer   Value at
06/30/22		     Purchases
at Cost		     Proceeds
from Sales		     Net
Realized
Gain (Loss)		     Change in
Unrealized
Appreciation
(Depreciation)		     Value at
09/30/22		     Shares
Held at
09/30/22		     Income     Capital Gain
Distributions
from
Underlying
Funds		  

BlackRock Liquidity Funds, T-Fund, Institutional Class

   $ 492,237     $ —     $ (40,454 )(a)    $ —     $ —     $ 451,783       451,783     $ 2,033     $ —  

SL Liquidity Series, LLC, Money Market Series

     2,813,256       —       (301,083 )(a)      (14)       592       2,512,751       2,512,751       3,302 (b)      —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  
        $ (14)     $ 592     $ 2,964,534       $ 5,335     $ —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  

 

  (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 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. 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 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

                  

Investments

                  

Long-Term Investments

                  

Common Stocks

    $ —        $ 74,742,750        $ —        $ 74,742,750  

Short-Term Securities

                  

Money Market Funds

      451,783          —          —          451,783  

Time Deposits

      —          304,808          —          304,808  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $       451,783        $ 75,047,558        $             —          75,499,341  
  

 

 

       

 

 

       

 

 

       

 

 

  

Investments Valued at NAV(a)

                    2,512,751  
                 

 

 

  
                  $  78,012,092  
                 

 

 

  

 

  (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.

 

 

 

S C H E D U L E   O F   I N V E S T M E N  T S  

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Schedule of Investments (unaudited) (continued)

September 30, 2022

   

BlackRock EuroFund

 

Currency Abbreviation

 

EUR    Euro

 

 

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