Schedule

of

Investments

(unaudited)

January

31,

2024

BlackRock

Global

Impact

Fund

2

(Percentages

shown

are

based

on

Net

Assets)

Security

Shares

Shares

Value

Common

Stocks

Australia

—

1.0%

Brambles

Ltd.

................

8,053

$

76,784

Brazil

—

5.1%

MercadoLibre,

Inc.

(a)

............

125

213,976

Sendas

Distribuidora

SA

.........

58,115

161,170

375,146

Canada

—

2.1%

North

West

Co.,

Inc.

(The)

........

5,290

153,020

Germany

—

3.8%

Infineon

Technologies

AG

........

2,758

100,548

LEG

Immobilien

SE

(a)

...........

1,365

113,267

Vonovia

SE

..................

2,190

68,224

282,039

India

—

0.6%

Bandhan

Bank

Ltd.

(b)

(c)

..........

16,130

44,437

Indonesia

—

4.0%

Bank

Rakyat

Indonesia

Persero

Tbk.

PT

.....................

612,800

220,752

Dayamitra

Telekomunikasi

PT

.....

1,848,000

79,594

300,346

Japan

—

2.5%

Daikin

Industries

Ltd.

...........

300

48,070

Recruit

Holdings

Co.

Ltd.

........

3,400

134,295

182,365

Kazakhstan

—

1.9%

Kaspi.KZ

JSC

,

ADR

(c)

...........

1,509

138,828

Netherlands

—

2.7%

ASML

Holding

NV

.............

231

200,413

South

Korea

—

0.6%

Samsung

SDI

Co.

Ltd.

..........

157

43,571

Spain

—

1.4%

EDP

Renovaveis

SA

............

6,628

107,329

Switzerland

—

3.7%

DSM-Firmenich

AG

............

1,241

131,211

Landis+Gyr

Group

AG

..........

1,793

147,020

278,231

Taiwan

—

3.2%

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

..................

12,000

240,222

United

Kingdom

—

9.5%

Halma

plc

...................

5,179

143,350

Pearson

plc

.................

15,268

187,305

RELX

plc

...................

4,030

166,335

Wise

plc

,

Class

A

(a)

.............

20,122

205,242

702,232

United

States

—

56.0%

Advanced

Drainage

Systems,

Inc.

..

758

98,858

Aptiv

plc

(a)

...................

1,239

100,768

Security

Shares

Shares

Value

United

States

(continued)

Autodesk,

Inc.

(a)

...............

701

$

177,921

AZEK

Co.,

Inc.

(The)

,

Class

A

(a)

....

3,759

144,947

Block,

Inc.

,

Class

A

(a)

...........

1,341

87,178

Boston

Scientific

Corp.

(a)

.........

3,322

210,150

Brookfield

Renewable

Corp.

,

Class

A

5,415

151,279

Clean

Harbors,

Inc.

(a)

...........

1,061

178,206

Crown

Holdings,

Inc.

...........

2,352

208,152

Danaher

Corp.

...............

540

129,551

Dexcom,

Inc.

(a)

...............

925

112,249

Encompass

Health

Corp.

........

1,129

80,204

Etsy,

Inc.

(a)

..................

919

61,169

Exact

Sciences

Corp.

(a)

..........

1,454

95,092

Grand

Canyon

Education,

Inc.

(a)

....

347

45,315

Hologic,

Inc.

(a)

................

1,505

112,032

ICF

International,

Inc.

...........

1,327

184,506

Instructure

Holdings,

Inc.

(a)

.......

6,698

164,972

Intuit,

Inc.

...................

128

80,810

Intuitive

Surgical,

Inc.

(a)

..........

276

104,389

NextEra

Energy,

Inc.

...........

2,422

142,002

Okta,

Inc.

,

Class

A

(a)

............

784

64,798

Pacific

Biosciences

of

California,

Inc.

(a)

10,664

69,423

Palo

Alto

Networks,

Inc.

(a)

........

173

58,562

Quanta

Services,

Inc.

...........

544

105,563

Royalty

Pharma

plc

,

Class

A

......

4,729

134,256

Schneider

Electric

SE

...........

856

168,161

STERIS

plc

..................

102

22,333

Stride,

Inc.

(a)

.................

2,189

131,231

Tesla,

Inc.

(a)

..................

357

66,862

Trane

Technologies

plc

..........

379

95,527

Trimble,

Inc.

(a)

................

574

29,194

Veeva

Systems,

Inc.

,

Class

A

(a)

....

747

154,935

Vertex

Pharmaceuticals,

Inc.

(a)

.....

206

89,276

Zoetis,

Inc.

,

Class

A

............

692

129,964

Zurn

Elkay

Water

Solutions

Corp.

...

5,380

159,517

4,149,352

Total

Long-Term

Investments

—

98.1%

(Cost:

$

6,363,543

)

..............................

7,274,315

Short-Term

Securities

Money

Market

Funds

—

3.2%

BlackRock

Liquidity

Funds,

T-Fund,

Institutional

Class

,

5.21

%

(d)

(e)

....

238,870

238,870

Total

Short-Term

Securities

—

3

.2

%

(Cost:

$

238,870

)

................................

238,870

Total

Investments

—

101.3%

(Cost:

$

6,602,413

)

..............................

7,513,185

Liabilities

in

Excess

of

Other

Assets

—

(

1.3

)

%

............

(

99,874

)

Net

Assets

—

100.0%

..............................

$

7,413,311

(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)

This

security

may

be

resold

to

qualified

foreign

investors

and

foreign

institutional

buyers

under

Regulation

S

of

the

Securities

Act

of

1933.

(d)

Affiliate

of

the

Fund.

(e)

Annualized

7-day

yield

as

of

period

end.

Schedule

of

Investments

(unaudited)

(continued)

January

31,

2024

BlackRock

Global

Impact

Fund

3

Affiliates

Investments

in

issuers

considered

to

be

affiliate(s)

of

the

Fund

during

the period

ended

January

31,

2024

for

purposes

of

Section

2(a)(3)

of

the

Investment

Company

Act

of

1940,

as

amended,

were

as

follows:

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.

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.

Affiliated

Issuer

Value

at

04/30/23

Purchases

at

Cost

Proceeds

from

Sale

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

Value

at

01/31/24

Shares

Held

at

01/31/24

Income

Capital

Gain

Distributions

from

Underlying

Funds

BlackRock

Liquidity

Funds,

T-Fund,

Institutional

Class

.

$

337,374

$

—

$

(

98,504

)

(a)

$

—

$

—

$

238,870

238,870

$

9,432

$

—

SL

Liquidity

Series,

LLC,

Money

Market

Series

(b)

........

209,097

—

(

209,155

)

(a)

77

(

19

)

—

—

96

(c)

—

$

77

$

(

19

)

$

238,870

$

9,528

$

—

—

—

(a)

Represents

net

amount

purchased

(sold).

(b)

As

of

period

end,

the

entity

is

no

longer

held.

(c)

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.

Level

1

Level

2

Level

3

Total

Assets

Investments

Long-Term

Investments

Common

Stocks

Australia

.............................................

$

—

$

76,784

$

—

$

76,784

Brazil

...............................................

375,146

—

—

375,146

Canada

.............................................

153,020

—

—

153,020

Germany

............................................

—

282,039

—

282,039

India

...............................................

—

44,437

—

44,437

Indonesia

............................................

—

300,346

—

300,346

Japan

...............................................

—

182,365

—

182,365

Kazakhstan

...........................................

138,828

—

—

138,828

Netherlands

...........................................

—

200,413

—

200,413

South

Korea

..........................................

—

43,571

—

43,571

Spain

...............................................

—

107,329

—

107,329

Switzerland

...........................................

—

278,231

—

278,231

Taiwan

..............................................

—

240,222

—

240,222

United

Kingdom

........................................

—

702,232

—

702,232

Schedule

of

Investments

(unaudited)

(continued)

January

31,

2024

BlackRock

Global

Impact

Fund

4

Level

1

Level

2

Level

3

Total

United

States

..........................................

$

3,981,191

$

168,161

$

—

$

4,149,352

Short-Term

Securities

Money

Market

Funds

......................................

238,870

—

—

238,870

$

4,887,055

$

2,626,130

$

—

$

7,513,185

Portfolio

Abbreviation

ADR

American

Depositary

Receipts

JSC

Joint

Stock

Company

Fair

Value

Hierarchy

as

of

Period

End

(continued)