NPORT-EX 2 BRFFEF0BR083124.htm
Schedule of Investments (unaudited)  
August 31, 2024
BlackRock Advantage Large Cap Growth Fund
(Percentages shown are based on Net Assets)
Security   Shares Value
Common Stocks
Aerospace & Defense — 1.1%
General Dynamics Corp.
      15,421 $  4,616,431
Lockheed Martin Corp.
      17,063  9,693,490
      14,309,921
Air Freight & Logistics — 0.1%
United Parcel Service, Inc., Class B
       5,093  654,705
Automobiles — 1.7%
General Motors Co.
       6,056  301,468
Tesla, Inc.(a)
     103,890  22,243,888
      22,545,356
Biotechnology — 1.8%
Amgen, Inc.
       2,460  821,222
Biogen, Inc.(a)
      10,574  2,165,132
Gilead Sciences, Inc.
     185,757  14,674,803
Natera, Inc.(a)
       6,889  814,693
Neurocrine Biosciences, Inc.(a)
      39,577  5,028,654
      23,504,504
Broadline Retail — 5.6%
Amazon.com, Inc.(a)
     371,377  66,290,794
MercadoLibre, Inc.(a)(b)
       3,175  6,545,771
      72,836,565
Building Products — 0.4%
Advanced Drainage Systems, Inc.
       5,334  836,158
Trane Technologies PLC
  10,567  3,821,661
      4,657,819
Capital Markets — 0.5%
S&P Global, Inc.
  13,662  7,011,885
Chemicals — 0.0%
Cabot Corp.
  1  105
Commercial Services & Supplies — 2.9%
Cintas Corp.
  26,796  21,573,995
Waste Connections, Inc.
  2,904  541,596
Waste Management, Inc.
  72,220  15,313,529
      37,429,120
Communications Equipment — 1.3%
Arista Networks, Inc.(a)
  26,222  9,266,331
Motorola Solutions, Inc.
  16,906  7,473,128
      16,739,459
Construction & Engineering — 0.2%
EMCOR Group, Inc.
  3,686  1,448,819
MasTec, Inc.(a)
  10,476  1,185,150
      2,633,969
Consumer Staples Distribution & Retail — 2.9%
Costco Wholesale Corp.
  21,975  19,610,050
Kroger Co. (The)
  117,337  6,243,502
Walmart, Inc.
  153,838  11,880,909
      37,734,461
Electrical Equipment — 0.7%
Eaton Corp. PLC
  29,297  8,992,128
Electronic Equipment, Instruments & Components — 1.6%
Flex Ltd.(a)
  212,466  6,903,020
TE Connectivity Ltd.
  91,046  13,984,666
      20,887,686
Entertainment — 1.5%
Netflix, Inc.(a)
  18,353  12,871,877
Security   Shares Value
Entertainment (continued)
ROBLOX Corp., Class A(a)
      52,485 $  2,308,815
Spotify Technology SA(a)
      10,533  3,611,555
      18,792,247
Financial Services — 4.7%
Mastercard, Inc., Class A
      72,985  35,276,570
Visa, Inc., Class A
      95,252  26,324,795
      61,601,365
Ground Transportation — 0.5%
Uber Technologies, Inc.(a)
      85,707  6,267,753
Health Care Equipment & Supplies — 1.3%
Boston Scientific Corp.(a)
      67,153  5,492,444
Stryker Corp.
      32,468  11,702,116
      17,194,560
Health Care Providers & Services — 1.0%
Cardinal Health, Inc.
      43,799  4,937,024
HCA Healthcare, Inc.
      20,224  8,000,412
      12,937,436
Hotels, Restaurants & Leisure — 1.9%
Airbnb, Inc., Class A(a)
      32,227  3,780,549
Booking Holdings, Inc.
       3,814  14,909,803
DoorDash, Inc., Class A(a)
      19,031  2,449,480
Marriott International, Inc., Class A
       4,164  977,249
Texas Roadhouse, Inc.
      14,114  2,381,738
Wingstop, Inc.
  1,958  756,004
      25,254,823
Household Durables — 0.4%
Toll Brothers, Inc.
  37,294  5,372,947
Household Products — 0.7%
Kimberly-Clark Corp.
  49,922  7,221,717
Procter & Gamble Co. (The)
  8,384  1,438,191
      8,659,908
Industrial REITs — 0.2%
Lineage, Inc.(a)
  34,957  2,932,892
Insurance — 0.8%
Marsh & McLennan Cos., Inc.
  3,942  896,844
Progressive Corp. (The)
  36,869  9,298,362
      10,195,206
Interactive Media & Services — 9.9%
Alphabet, Inc., Class A
  152,362  24,892,904
Alphabet, Inc., Class C, NVS
  234,524  38,722,258
Meta Platforms, Inc., Class A
  110,852  57,788,256
Pinterest, Inc., Class A(a)
  77,780  2,492,071
Snap, Inc., Class A, NVS(a)
  557,154  5,203,818
      129,099,307
IT Services — 0.2%
Accenture PLC, Class A
  3,155  1,078,852
Cloudflare, Inc., Class A(a)
  13,866  1,138,953
Kyndryl Holdings, Inc.(a)
  25,279  598,860
      2,816,665
Life Sciences Tools & Services — 0.5%
Thermo Fisher Scientific, Inc.
  11,357  6,985,350
Machinery — 1.0%
Parker-Hannifin Corp.
  22,077  13,250,615
Media — 0.5%
Comcast Corp., Class A
  165,764  6,559,282
 
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Schedule of Investments (unaudited)  (continued)
August 31, 2024
BlackRock Advantage Large Cap Growth Fund
(Percentages shown are based on Net Assets)
Security   Shares Value
Metals & Mining — 0.1%
Nucor Corp.
       6,562 $  996,833
Pharmaceuticals — 4.8%
Eli Lilly & Co.
      46,082  44,239,642
Merck & Co., Inc.
     147,687  17,493,525
Zoetis, Inc., Class A
       1,491  273,583
      62,006,750
Semiconductors & Semiconductor Equipment — 18.0%
Advanced Micro Devices, Inc.(a)
      31,872  4,734,904
Applied Materials, Inc.
      34,211  6,748,462
Broadcom, Inc.
     240,643  39,181,493
Intel Corp.
      97,160  2,141,406
KLA Corp.
       3,158  2,587,760
Lam Research Corp.
      18,716  15,366,023
Micron Technology, Inc.
      57,262  5,510,895
Monolithic Power Systems, Inc.
       1,087  1,015,997
NVIDIA Corp.
   1,132,621  135,200,969
QUALCOMM, Inc.
     119,728  20,988,319
      233,476,228
Software — 17.7%
Adobe, Inc.(a)
      29,412  16,894,547
Atlassian Corp., Class A(a)
      33,857  5,606,719
Autodesk, Inc.(a)
      11,244  2,905,450
Crowdstrike Holdings, Inc., Class A(a)
      33,366  9,251,724
Datadog, Inc., Class A(a)
  30,582  3,555,463
Dropbox, Inc., Class A(a)
  74,662  1,877,003
Dynatrace, Inc.(a)
  2,973  150,493
Fortinet, Inc.(a)
  233,020  17,874,964
FreedomPay, Inc.(a)(c)
  43,051  669,443
HubSpot, Inc.(a)
  9,814  4,897,873
Intuit, Inc.
  20,996  13,232,939
Manhattan Associates, Inc.(a)
  35,539  9,397,578
Microsoft Corp.
  164,190  68,490,217
Nutanix, Inc., Class A(a)
  4,305  272,033
Oracle Corp.
  190,320  26,890,313
Palantir Technologies, Inc., Class A(a)
  23,380  736,002
Palo Alto Networks, Inc.(a)
  18,454  6,693,635
Salesforce, Inc.
  52,433  13,260,306
ServiceNow, Inc.(a)
  27,659  23,648,445
Synopsys, Inc.(a)
  5,837  3,032,788
Workday, Inc., Class A(a)
  1,203  316,618
Zoom Video Communications, Inc., Class A(a)
  2,390  165,101
Zscaler, Inc.(a)
  2,639  527,747
      230,347,401
Security   Shares Value
Specialty Retail — 1.0%
Home Depot, Inc. (The)
      19,226 $  7,084,781
Penske Automotive Group, Inc.
      10,333  1,757,643
Ross Stores, Inc.
      29,533  4,447,965
      13,290,389
Technology Hardware, Storage & Peripherals — 10.3%
Apple Inc.
     474,430  108,644,470
Dell Technologies, Inc., Class C
      49,383  5,705,712
Hewlett Packard Enterprise Co.
     261,430  5,063,899
NetApp, Inc.
     119,207  14,390,669
Pure Storage, Inc., Class A(a)
      11,390  584,193
      134,388,943
Textiles, Apparel & Luxury Goods — 0.8%
Deckers Outdoor Corp.(a)
       2,498  2,396,306
NIKE, Inc., Class B
      89,242  7,435,644
      9,831,950
Trading Companies & Distributors — 0.3%
WW Grainger, Inc.
       3,365  3,314,256
Total Long-Term Investments — 98.9%

(Cost: $843,997,845)
1,285,510,789
Short-Term Securities
Money Market Funds — 1.4%
BlackRock Cash Funds: Institutional, SL Agency Shares, 5.45%(d)(e)(f)
   5,137,542  5,140,625
BlackRock Liquidity Funds, T-Fund, Institutional Shares, 5.18%(d)(e)
  13,097,793  13,097,793
Total Short-Term Securities — 1.4%

(Cost: $18,238,418)
18,238,418
Total Investments — 100.3%

(Cost: $862,236,263)
1,303,749,207
Liabilities in Excess of Other Assets — (0.3)%
(4,397,538)
Net Assets — 100.0%
$  1,299,351,669
(a) Non-income producing security.
(b) All or a portion of this security is on loan.
(c) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(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)
August 31, 2024
BlackRock Advantage Large Cap Growth Fund
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended August 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer Value at
05/31/24 		Purchases
at Cost 		Proceeds
from Sales 		Net
Realized
Gain (Loss) 		  Change in
Unrealized
Appreciation
(Depreciation) 		  Value at
08/31/24 		Shares
Held at
08/31/24 		Income   Capital
Gain
Distributions
from Underlying
Funds
BlackRock Cash Funds: Institutional, SL Agency Shares
$  — $  5,140,446(a) $  — $  179   $  —   $  5,140,625 5,137,542 $  427(b)   $  —
BlackRock Liquidity Funds, T-Fund, Institutional Shares
 11,949,669  1,148,124(a)  —  —    —    13,097,793 13,097,793  162,675    —
        $  179   $  —   $  18,238,418   $  163,102   $  —
(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.
For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Fund for compliance purposes.
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        
NASDAQ 100 E-Mini Index
37 09/20/24 $  14,521 $  202,922
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.
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Schedule of Investments (unaudited)  (continued)
August 31, 2024
BlackRock Advantage Large Cap Growth Fund
Fair Value Hierarchy as of Period End (continued)
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 
$  1,284,841,346   $  —   $  669,443   $  1,285,510,789
Short-Term Securities              
Money Market Funds
 18,238,418    —    —    18,238,418
  $  1,303,079,764   $  —   $  669,443   $  1,303,749,207
Derivative Financial Instruments(a)              
Assets              
Equity Contracts
$  202,922   $  —   $  —   $  202,922
(a) Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.
Portfolio Abbreviation 
NVS Non-Voting Shares
4