Consolidated Schedule of Investments (unaudited) January 31, 2023 | BlackRock GA Disciplined Volatility Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Common Stocks | ||||||||
Argentina — 0.1% | ||||||||
MercadoLibre, Inc.(a) | 99 | $ | 116,987 | |||||
|
| |||||||
Brazil — 0.8% | ||||||||
Ambev SA | 143,455 | 386,028 | ||||||
Lojas Renner SA | 96,222 | 410,000 | ||||||
|
| |||||||
796,028 | ||||||||
Canada — 2.9% | ||||||||
Brookfield Asset Management Ltd., Class A(a) | 9,304 | 303,758 | ||||||
Canadian Imperial Bank of Commerce | 3,909 | 178,447 | ||||||
Franco-Nevada Corp. | 3,199 | 469,241 | ||||||
George Weston Ltd. | 808 | 103,946 | ||||||
Lululemon Athletica, Inc.(a) | 1,218 | 373,780 | ||||||
Nuvei Corp.(a)(b) | 3,532 | 124,684 | ||||||
Ritchie Bros Auctioneers, Inc. | 1,326 | 80,185 | ||||||
Suncor Energy, Inc. | 6,699 | 232,505 | ||||||
TC Energy Corp. | 14,474 | 623,648 | ||||||
TELUS Corp. | 18,489 | 398,391 | ||||||
|
| |||||||
2,888,585 | ||||||||
China — 8.9% | ||||||||
Agricultural Bank of China Ltd., Class H | 908,000 | 326,819 | ||||||
Bank of China Ltd., Class H | 1,639,000 | 623,909 | ||||||
Bank of Communications Co. Ltd., Class H | 277,000 | 171,213 | ||||||
Bank of Jiangsu Co. Ltd., Class A | 182,900 | 201,441 | ||||||
BOC Hong Kong Holdings Ltd. | 87,500 | 305,803 | ||||||
BYD Co. Ltd., Class A | 4,752 | 203,038 | ||||||
BYD Co. Ltd., Class H | 20,500 | 649,185 | ||||||
China Construction Bank Corp., Class H | 908,000 | 587,740 | ||||||
China Longyuan Power Group Corp. Ltd., Class H | 79,000 | 109,055 | ||||||
China Merchants Bank Co. Ltd., Class H | 41,500 | 269,174 | ||||||
China Resources Gas Group Ltd. | 31,600 | 132,885 | ||||||
COSCO SHIPPING Holdings Co. Ltd., Class H | 157,000 | 162,853 | ||||||
CRRC Corp. Ltd., Class H | 283,000 | 128,274 | ||||||
Datang International Power Generation Co. Ltd., Class A(a) | 417,300 | 171,377 | ||||||
Dongfang Electric Corp. Ltd., Class A | 32,200 | 102,342 | ||||||
Fosun International Ltd. | 137,000 | 127,197 | ||||||
GoodWe Technologies Co. Ltd., Class A | 3,468 | 209,936 | ||||||
Greentown China Holdings Ltd. | 80,000 | 117,950 | ||||||
Industrial & Commercial Bank of China Ltd., Class H | 665,000 | 355,721 | ||||||
Kingboard Holdings Ltd. | 57,500 | 234,878 | ||||||
Koolearn Technology Holding Ltd.(a)(b) | 9,500 | 77,161 | ||||||
Kunlun Energy Co. Ltd. | 128,000 | 100,948 | ||||||
Lenovo Group Ltd. | 74,000 | 59,353 | ||||||
Li Auto, Inc., Class A(a) | 12,900 | 157,847 | ||||||
LONGi Green Energy Technology Co. Ltd., Class A(a) | 42,200 | 302,593 | ||||||
Meituan, Class B(a)(b) | 4,160 | 93,000 | ||||||
NetEase, Inc. | 16,600 | 294,519 | ||||||
Ningbo Deye Technology Co. Ltd., Class A | 5,600 | 290,201 | ||||||
Nongfu Spring Co. Ltd., Class H(b) | 17,800 | 100,762 | ||||||
PetroChina Co. Ltd., Class H | 768,000 | 410,842 | ||||||
Pharmaron Beijing Co. Ltd., Class H(b) | 6,300 | 46,178 | ||||||
PICC Property & Casualty Co. Ltd., Class H | 114,000 | 107,177 | ||||||
Porton Pharma Solutions Ltd., Class A | 33,000 | 232,088 | ||||||
Postal Savings Bank of China Co. Ltd., Class H(b) | 385,000 | 261,995 | ||||||
Pylon Technologies Co. Ltd., Class A | 2,727 | 124,335 | ||||||
Shandong Weifang Rainbow Chemical Co. Ltd., Class A | 16,600 | 201,622 | ||||||
Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | 24,500 | 78,999 | ||||||
Suzhou TA&A Ultra Clean Technology Co. Ltd., Class A | 7,600 | 71,751 | ||||||
Tencent Holdings Ltd. | 2,100 | 102,331 | ||||||
Wilmar International Ltd. | 26,600 | 82,700 |
Security | Shares | Value | ||||||
China (continued) | ||||||||
Yadea Group Holdings Ltd.(b) | 52,000 | $ | 118,553 | |||||
Zangge Mining Co. Ltd., Class A | 29,840 | 123,794 | ||||||
Zijin Mining Group Co. Ltd., Class H | 92,000 | 152,173 | ||||||
|
| |||||||
8,781,712 | ||||||||
Denmark — 0.9% | ||||||||
Novo Nordisk A/S, Class B | 6,706 | 928,042 | ||||||
|
| |||||||
Finland — 0.1% | ||||||||
Kone OYJ, Class B | 1,057 | 57,645 | ||||||
|
| |||||||
France — 3.1% | ||||||||
Hermes International | 287 | 537,123 | ||||||
L’Oreal SA | 1,161 | 479,390 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 1,836 | 1,602,783 | ||||||
Societe Generale SA | 3,068 | 91,324 | ||||||
TotalEnergies SE | 5,101 | 315,348 | ||||||
|
| |||||||
3,025,968 | ||||||||
Germany — 0.4% | ||||||||
Symrise AG | 3,937 | 418,541 | ||||||
|
| |||||||
Hong Kong — 1.9% | ||||||||
China Resources Power Holdings Co. Ltd. | 24,000 | 49,991 | ||||||
CLP Holdings Ltd. | 21,500 | 159,743 | ||||||
Hang Seng Bank Ltd. | 6,700 | 111,576 | ||||||
HK Electric Investments & HK Electric Investments Ltd., Class SS | 206,500 | 142,739 | ||||||
HKT Trust & HKT Ltd., Class SS | 306,000 | 400,914 | ||||||
Hong Kong & China Gas Co. Ltd. | 58,350 | 58,585 | ||||||
Kingboard Laminates Holdings Ltd. | 137,000 | 167,047 | ||||||
Link REIT | 11,500 | 92,050 | ||||||
MTR Corp. Ltd. | 53,000 | 283,630 | ||||||
Orient Overseas International Ltd. | 18,000 | 299,211 | ||||||
SITC International Holdings Co. Ltd. | 65,000 | 141,999 | ||||||
|
| |||||||
1,907,485 | ||||||||
India — 2.7% | ||||||||
AU Small Finance Bank Ltd.(b) | 13,835 | 105,181 | ||||||
Bandhan Bank Ltd.(a)(b) | 67,713 | 202,954 | ||||||
Bharat Electronics Ltd. | 212,584 | 247,350 | ||||||
HCL Technologies Ltd. | 20,099 | 277,157 | ||||||
Indian Oil Corp. Ltd. | 191,178 | 191,240 | ||||||
Infosys Ltd. | 5,547 | 104,479 | ||||||
Oil & Natural Gas Corp. Ltd. | 58,458 | 104,164 | ||||||
Pidilite Industries Ltd. | 4,761 | 132,823 | ||||||
Power Grid Corp. of India Ltd. | 88,897 | 235,910 | ||||||
Samvardhana Motherson International Ltd. | 213,994 | 198,249 | ||||||
Sun Pharmaceutical Industries Ltd. | 18,112 | 229,324 | ||||||
Tata Consultancy Services Ltd. | 10,290 | 424,706 | ||||||
Torrent Pharmaceuticals Ltd. | 7,462 | 138,967 | ||||||
UPL Ltd. | 8,526 | 79,078 | ||||||
|
| |||||||
2,671,582 | ||||||||
Indonesia — 0.0% | ||||||||
Bank Central Asia Tbk PT | 50,200 | 28,382 | ||||||
|
| |||||||
Ireland — 0.8% | ||||||||
Allegion PLC | 1,311 | 154,108 | ||||||
Kingspan Group PLC | 4,768 | 306,659 | ||||||
Trane Technologies PLC | 1,743 | 312,206 | ||||||
|
| |||||||
772,973 | ||||||||
Italy — 0.8% | ||||||||
Ferrari NV | 3,037 | 758,898 | ||||||
|
| |||||||
Japan — 7.4% | ||||||||
Astellas Pharma, Inc. | 34,800 | 512,261 |
1 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2023 | BlackRock GA Disciplined Volatility Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
Japan (continued) | ||||||||
Chugai Pharmaceutical Co. Ltd. | 11,600 | $ | 300,731 | |||||
Daiwa Securities Group, Inc. | 65,300 | 308,157 | ||||||
East Japan Railway Co. | 1,800 | 100,365 | ||||||
Hoya Corp. | 1,100 | 120,969 | ||||||
Kakaku.com, Inc. | 7,900 | 131,709 | ||||||
Kansai Electric Power Co., Inc. | 13,900 | 133,678 | ||||||
Kao Corp. | 2,400 | 97,012 | ||||||
KDDI Corp. | 8,500 | 265,569 | ||||||
Keio Corp. | 8,200 | 300,977 | ||||||
Keyence Corp. | 400 | 184,148 | ||||||
Kikkoman Corp. | 1,900 | 100,495 | ||||||
Kobayashi Pharmaceutical Co. Ltd. | 4,000 | 287,168 | ||||||
Konami Group Corp. | 5,300 | 260,619 | ||||||
Mitsubishi Heavy Industries Ltd. | 3,400 | 133,314 | ||||||
MS&AD Insurance Group Holdings, Inc. | 11,900 | 381,677 | ||||||
Nippon Sanso Holdings Corp. | 6,600 | 107,652 | ||||||
Nissan Chemical Corp. | 2,400 | 113,303 | ||||||
Nomura Research Institute Ltd. | 15,600 | 374,518 | ||||||
Odakyu Electric Railway Co. Ltd. | 11,900 | 156,454 | ||||||
Osaka Gas Co. Ltd. | 12,900 | 208,166 | ||||||
Otsuka Holdings Co. Ltd. | 19,700 | 631,984 | ||||||
Recruit Holdings Co. Ltd. | 5,100 | 164,017 | ||||||
Secom Co. Ltd. | 3,500 | 208,515 | ||||||
Shimadzu Corp. | 6,000 | 184,386 | ||||||
Shionogi & Co. Ltd. | 2,400 | 114,371 | ||||||
SoftBank Corp. | 22,300 | 255,159 | ||||||
Suntory Beverage & Food Ltd. | 8,300 | 280,272 | ||||||
Terumo Corp. | 22,100 | 643,339 | ||||||
Tobu Railway Co. Ltd. | 7,900 | 185,359 | ||||||
|
| |||||||
7,246,344 | ||||||||
Mexico — 0.7% | ||||||||
Fomento Economico Mexicano SAB de CV | 12,022 | 105,303 | ||||||
Grupo Aeroportuario del Sureste SAB de CV, Class B | 8,016 | 217,720 | ||||||
Grupo Financiero Banorte SAB de CV, Class O | 7,070 | 58,642 | ||||||
Wal-Mart de Mexico SAB de CV | 70,311 | 275,412 | ||||||
|
| |||||||
657,077 | ||||||||
Netherlands — 1.3% | ||||||||
ASML Holding NV | 1,889 | 1,249,853 | ||||||
|
| |||||||
Saudi Arabia — 0.9% | ||||||||
ACWA Power Co. | 2,068 | 83,955 | ||||||
Arabian Internet & Communications Services Co. | 3,969 | 268,757 | ||||||
Dr Sulaiman Al Habib Medical Services Group Co. | 2,202 | 137,631 | ||||||
SABIC Agri-Nutrients Co. | 5,762 | 211,265 | ||||||
Saudi Telecom Co. | 15,687 | 154,818 | ||||||
|
| |||||||
856,426 | ||||||||
Singapore — 1.2% | ||||||||
Capitaland Investment Ltd. | 74,400 | 225,403 | ||||||
DBS Group Holdings Ltd. | 1,100 | 29,966 | ||||||
Keppel Corp. Ltd. | 51,300 | 296,189 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 33,200 | 328,027 | ||||||
Singapore Technologies Engineering Ltd. | 94,200 | 264,847 | ||||||
|
| |||||||
1,144,432 | ||||||||
South Africa — 0.5% | ||||||||
Anglo American Platinum Ltd. | 2,270 | 168,822 | ||||||
Kumba Iron Ore Ltd. | 9,281 | 284,185 | ||||||
Spar Group Ltd. | 11,344 | 89,611 | ||||||
|
| |||||||
542,618 | ||||||||
South Korea — 1.1% | ||||||||
Celltrion Healthcare Co. Ltd. | 4,409 | 206,343 |
Security | Shares | Value | ||||||
South Korea (continued) | ||||||||
Cheil Worldwide, Inc. | 18,042 | $ | 322,424 | |||||
Hyundai Heavy Industries Co. Ltd. | 911 | 82,694 | ||||||
Hyundai Mipo Dockyard Co. Ltd. | 968 | 63,569 | ||||||
Korea Shipbuilding & Offshore Engineering Co. Ltd. | 6,469 | 420,147 | ||||||
|
| |||||||
1,095,177 | ||||||||
Sweden — 1.0% | ||||||||
Atlas Copco AB, A Shares | 15,715 | 186,475 | ||||||
Epiroc AB, Class A | 9,520 | 185,228 | ||||||
Hexagon AB, B Shares | 37,214 | 426,603 | ||||||
Swedbank AB, A Shares | 9,558 | 183,862 | ||||||
|
| |||||||
982,168 | ||||||||
Switzerland — 1.6% | ||||||||
Lonza Group AG, Registered Shares | 1,555 | 887,036 | ||||||
Nestle SA, Registered Shares | 4,011 | 489,378 | ||||||
STMicroelectronics NV | 4,017 | 189,154 | ||||||
|
| |||||||
1,565,568 | ||||||||
Taiwan — 3.3% | ||||||||
Chunghwa Telecom Co. Ltd. | 113,000 | 422,294 | ||||||
CTBC Financial Holding Co. Ltd. | 218,000 | 166,688 | ||||||
Far EasTone Telecommunications Co. Ltd. | 220,000 | 489,395 | ||||||
Globalwafers Co. Ltd. | 5,000 | 87,725 | ||||||
Hua Nan Financial Holdings Co. Ltd. | 256,432 | 195,099 | ||||||
Lite-On Technology Corp. | 46,000 | 102,217 | ||||||
Nan Ya Printed Circuit Board Corp. | 19,000 | 156,020 | ||||||
Taiwan Cooperative Financial Holding Co. Ltd. | 260,755 | 230,421 | ||||||
Taiwan Mobile Co. Ltd. | 46,000 | 145,139 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 26,000 | 458,816 | ||||||
Unimicron Technology Corp. | 108,000 | 497,232 | ||||||
Wiwynn Corp. | 12,000 | 301,412 | ||||||
|
| |||||||
3,252,458 | ||||||||
United Kingdom — 1.7% | ||||||||
Auto Trader Group PLC(b) | 39,857 | 309,230 | ||||||
Ferguson PLC | 1,886 | 268,453 | ||||||
Linde PLC(a) | 712 | 235,629 | ||||||
London Stock Exchange Group PLC | 2,443 | 223,644 | ||||||
Spirax-Sarco Engineering PLC | 4,437 | 633,790 | ||||||
|
| |||||||
1,670,746 | ||||||||
United States — 55.1% | ||||||||
Adobe, Inc.(a) | 548 | 202,946 | ||||||
Advance Auto Parts, Inc. | 1,399 | 213,040 | ||||||
Airbnb, Inc., Class A(a) | 1,201 | 133,443 | ||||||
Akamai Technologies, Inc.(a) | 3,275 | 291,311 | ||||||
Alliant Energy Corp. | 9,882 | 533,924 | ||||||
Alphabet, Inc., Class C(a) | 5,261 | 525,416 | ||||||
Altria Group, Inc. | 7,936 | 357,437 | ||||||
American Electric Power Co., Inc. | 2,725 | 256,041 | ||||||
AmerisourceBergen Corp. | 1,966 | 332,175 | ||||||
Amgen, Inc. | 3,380 | 853,112 | ||||||
ANSYS, Inc.(a) | 2,703 | 719,971 | ||||||
Aspen Technology, Inc.(a) | 827 | 164,366 | ||||||
AT&T, Inc. | 25,090 | 511,083 | ||||||
AutoZone, Inc.(a) | 334 | 814,576 | ||||||
Baker Hughes Co. | 5,609 | 178,030 | ||||||
Baxter International, Inc. | 11,871 | 542,386 | ||||||
Berkshire Hathaway, Inc., Class B(a) | 1,159 | 361,052 | ||||||
Bill.com Holdings, Inc.(a) | 970 | 112,151 | ||||||
BioMarin Pharmaceutical, Inc.(a) | 2,066 | 238,313 | ||||||
Booking Holdings, Inc.(a) | 201 | 489,254 | ||||||
Booz Allen Hamilton Holding Corp., Class A | 2,511 | 237,641 | ||||||
Boston Scientific Corp.(a) | 5,475 | 253,219 |
SCHEDULE OF INVESTMENTS | 2 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2023 | BlackRock GA Disciplined Volatility Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
United States (continued) | ||||||||
Bristol-Myers Squibb Co. | 3,225 | $ | 234,296 | |||||
Brown-Forman Corp., Class B | 5,441 | 362,262 | ||||||
Cadence Design Systems, Inc.(a) | 6,379 | 1,166,273 | ||||||
Cardinal Health, Inc. | 2,883 | 222,712 | ||||||
Carrier Global Corp. | 5,004 | 227,832 | ||||||
CDW Corp. | 1,319 | 258,564 | ||||||
Centene Corp.(a) | 2,898 | 220,944 | ||||||
Ceridian HCM Holding, Inc.(a) | 1,712 | 123,743 | ||||||
Cheniere Energy, Inc. | 1,290 | 197,099 | ||||||
Chevron Corp. | 659 | 114,679 | ||||||
Cigna Corp. | 1,140 | 361,004 | ||||||
Cintas Corp. | 379 | 168,177 | ||||||
Cisco Systems, Inc. | 21,759 | 1,059,011 | ||||||
CME Group, Inc., Class A | 2,697 | 476,452 | ||||||
CMS Energy Corp. | 1,947 | 123,031 | ||||||
Coca-Cola Co. | 6,322 | 387,665 | ||||||
Colgate-Palmolive Co. | 6,586 | 490,855 | ||||||
Comcast Corp., Class A | 12,996 | 511,393 | ||||||
Consolidated Edison, Inc. | 63 | 6,005 | ||||||
Copart, Inc.(a) | 6,760 | 450,284 | ||||||
Costco Wholesale Corp. | 1,730 | 884,272 | ||||||
Crowdstrike Holdings, Inc., Class A(a) | 4,007 | 424,341 | ||||||
Datadog, Inc., Class A(a) | 4,036 | 301,933 | ||||||
Delta Air Lines, Inc.(a) | 12,299 | 480,891 | ||||||
Dollar General Corp. | 409 | 95,542 | ||||||
Duke Energy Corp. | 2,130 | 218,219 | ||||||
eBay, Inc. | 6,783 | 335,759 | ||||||
Edison International | 1,810 | 124,709 | ||||||
Eli Lilly & Co. | 1,149 | 395,428 | ||||||
Entergy Corp. | 789 | 85,433 | ||||||
Eversource Energy | 8,888 | 731,749 | ||||||
Expedia Group, Inc.(a) | 1,181 | 134,988 | ||||||
Expeditors International of Washington, Inc. | 2,350 | 254,153 | ||||||
Exxon Mobil Corp. | 1,832 | 212,530 | ||||||
FactSet Research Systems, Inc. | 388 | 164,101 | ||||||
Fastenal Co. | 6,453 | 326,199 | ||||||
Fidelity National Information Services, Inc. | 2,325 | 174,468 | ||||||
FleetCor Technologies, Inc.(a) | 1,188 | 248,066 | ||||||
Floor & Decor Holdings, Inc., Class A(a) | 2,361 | 214,308 | ||||||
Fortinet, Inc.(a) | 4,179 | 218,729 | ||||||
Gartner, Inc.(a) | 1,025 | 346,594 | ||||||
Gen Digital, Inc. | 13,547 | 311,716 | ||||||
General Mills, Inc. | 4,298 | 336,791 | ||||||
Genuine Parts Co. | 1,493 | 250,555 | ||||||
Gilead Sciences, Inc. | 17,013 | 1,428,071 | ||||||
Healthpeak Properties, Inc. | 7,330 | 201,428 | ||||||
Hershey Co. | 1,032 | 231,787 | ||||||
Hewlett Packard Enterprise Co. | 5,382 | 86,812 | ||||||
Hilton Worldwide Holdings, Inc. | 2,405 | 348,941 | ||||||
Honeywell International, Inc. | 723 | 150,731 | ||||||
Hormel Foods Corp. | 3,231 | 146,397 | ||||||
HubSpot, Inc.(a) | 454 | 157,543 | ||||||
Humana, Inc. | 587 | 300,368 | ||||||
Incyte Corp.(a) | 3,408 | 290,157 | ||||||
Intuit, Inc. | 1,684 | 711,776 | ||||||
Intuitive Surgical, Inc.(a) | 2,363 | 580,565 | ||||||
Johnson & Johnson | 1,473 | 240,718 | ||||||
JPMorgan Chase & Co. | 561 | 78,518 | ||||||
Kellogg Co. | 4,236 | 290,505 | ||||||
Keurig Dr. Pepper, Inc. | 13,282 | 468,589 | ||||||
Keysight Technologies, Inc.(a) | 1,007 | 180,605 | ||||||
Kimberly-Clark Corp. | 2,264 | 294,343 | ||||||
Kinder Morgan, Inc. | 8,794 | 160,930 |
Security | Shares | Value | ||||||
United States (continued) | ||||||||
Kroger Co. | 17,172 | $ | 766,386 | |||||
Liberty Broadband Corp., Class C(a) | 3,738 | 335,598 | ||||||
Loews Corp. | 5,980 | 367,650 | ||||||
Lowe’s Cos., Inc. | 381 | 79,343 | ||||||
Lumen Technologies, Inc.(a) | 21,416 | 112,434 | ||||||
Marathon Oil Corp. | 10,272 | 282,172 | ||||||
Marathon Petroleum Corp. | 1,130 | 145,228 | ||||||
Marsh & McLennan Cos., Inc. | 2,814 | 492,197 | ||||||
Masimo Corp.(a) | 1,746 | 296,960 | ||||||
Mastercard, Inc., Class A | 4,745 | 1,758,497 | ||||||
McDonald’s Corp. | 41 | 10,963 | ||||||
McKesson Corp. | 952 | 360,503 | ||||||
Merck & Co., Inc. | 9,957 | 1,069,481 | ||||||
MetLife, Inc. | 3,045 | 222,346 | ||||||
MGM Resorts International | 7,553 | 312,770 | ||||||
Microsoft Corp. | 4,129 | 1,023,208 | ||||||
Motorola Solutions, Inc. | 264 | 67,851 | ||||||
Newmont Corp. | 15,364 | 813,217 | ||||||
NextEra Energy, Inc. | 3,375 | 251,876 | ||||||
NIKE, Inc., Class B | 3,609 | 459,534 | ||||||
NRG Energy, Inc. | 6,449 | 220,685 | ||||||
ONEOK, Inc. | 1,378 | 94,365 | ||||||
Otis Worldwide Corp. | 2,462 | 202,450 | ||||||
Palo Alto Networks, Inc.(a) | 2,359 | 374,232 | ||||||
Paychex, Inc. | 1,576 | 182,595 | ||||||
Paycom Software, Inc.(a) | 946 | 306,447 | ||||||
Paylocity Holding Corp.(a) | 479 | 99,771 | ||||||
PepsiCo, Inc. | 7,080 | 1,210,822 | ||||||
Philip Morris International, Inc. | 2,964 | 308,967 | ||||||
Procter & Gamble Co. | 1,673 | 238,202 | ||||||
Progressive Corp. | 1,251 | 170,574 | ||||||
Public Storage | 1,262 | 384,077 | ||||||
Regeneron Pharmaceuticals, Inc.(a) | 102 | 77,364 | ||||||
Republic Services, Inc. | 3,500 | 436,870 | ||||||
S&P Global, Inc. | 2,260 | 847,364 | ||||||
Salesforce, Inc.(a) | 1,954 | 328,213 | ||||||
Schlumberger Ltd. | 6,721 | 382,963 | ||||||
Seagen, Inc.(a) | 2,604 | 363,206 | ||||||
Sealed Air Corp. | 3,500 | 191,660 | ||||||
ServiceNow, Inc.(a) | 312 | 142,001 | ||||||
Snowflake, Inc., Class A(a) | 1,570 | 245,611 | ||||||
Southern Co. | 6,103 | 413,051 | ||||||
Southwest Airlines Co. | 6,243 | 223,312 | ||||||
Splunk, Inc.(a) | 3,469 | 332,226 | ||||||
Thermo Fisher Scientific, Inc. | 1,069 | 609,683 | ||||||
TransDigm Group, Inc. | 526 | 377,537 | ||||||
Travelers Cos., Inc. | 1,399 | 267,377 | ||||||
UnitedHealth Group, Inc. | 1,465 | 731,313 | ||||||
VeriSign, Inc.(a) | 3,795 | 827,500 | ||||||
Verisk Analytics, Inc. | 3,502 | 636,629 | ||||||
Verizon Communications, Inc. | 10,872 | 451,949 | ||||||
Vertex Pharmaceuticals, Inc.(a) | 2,384 | 770,270 | ||||||
VF Corp. | 8,014 | 247,953 | ||||||
Viatris, Inc. | 19 | 231 | ||||||
Visa, Inc., Class A | 358 | 82,415 | ||||||
Walgreens Boots Alliance, Inc. | 13,683 | 504,355 | ||||||
Walmart, Inc. | 1,215 | 174,802 | ||||||
Walt Disney Co.(a) | 1,519 | 164,796 | ||||||
Warner Bros Discovery, Inc., Class A(a) | 606 | 8,981 | ||||||
Waste Management, Inc. | 1,592 | 246,330 | ||||||
WEC Energy Group, Inc. | 9,378 | 881,438 | ||||||
West Pharmaceutical Services, Inc. | 1,025 | 272,240 | ||||||
Workday, Inc., Class A(a) | 2,121 | 384,813 |
3 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2023 | BlackRock GA Disciplined Volatility Equity Fund (Percentages shown are based on Net Assets) |
Security | Shares | Value | ||||||
United States (continued) | ||||||||
Zoetis, Inc. | 910 | $ | 150,596 | |||||
Zscaler, Inc.(a) | 2,723 | 338,088 | ||||||
|
| |||||||
54,237,964 | ||||||||
|
| |||||||
Total Common Stocks — 99.2% | 97,653,659 | |||||||
|
| |||||||
Preferred Securities | ||||||||
Preferred Stocks — 0.2% | ||||||||
Brazil — 0.2% | ||||||||
Cia Energetica de Minas Gerais, Preference Shares | 85,946 | 194,028 | ||||||
|
| |||||||
Total Preferred Securities — 0.2% | 194,028 | |||||||
|
| |||||||
Total Long-Term Investments — 99.4% (Cost: $91,244,085) | 97,847,687 | |||||||
|
| |||||||
Short-Term Securities | ||||||||
Money Market Funds — | ||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class, 4.07%(c)(d) | 5,604 | 5,604 | ||||||
|
| |||||||
Total Short-Term Securities — 0.0% | 5,604 | |||||||
|
| |||||||
Total Investments — 99.4% | 97,853,291 | |||||||
Other Assets Less Liabilities — 0.6% | 606,279 | |||||||
|
| |||||||
Net Assets — 100.0% | $ | 98,459,570 | ||||||
|
|
(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. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| ||||||||||||||||||||||||||||||||||||
Affiliated Issuer | Value at 04/30/22 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 01/31/23 | Shares Held at 01/31/23 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||
BlackRock Liquidity Funds, T-Fund, Institutional Class | $ | 8,460,212 | $ | — | $ | (8,454,608 | )(a) | $ | — | $ | — | $ | 5,604 | 5,604 | $ | 100,231 | $ | — | ||||||||||||||||||
iShares Gold Trust(b) | — | 121,432 | (124,815 | ) | 3,383 | — | — | — | — | — | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
| |||||||||||||||||||||||||||
$ | 3,383 | $ | — | $ | 5,604 | $ | 100,231 | $ | — | |||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(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) | ||||||||||||
Short Contracts | ||||||||||||||||
S&P 500 E-Mini Index | 1 | 03/17/23 | $ | 205 | $ | (2,115 | ) | |||||||||
|
|
SCHEDULE OF INVESTMENTS | 4 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2023 | BlackRock GA Disciplined Volatility Equity Fund |
Forward Foreign Currency Exchange Contracts
| ||||||||||||||||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation (Depreciation) | ||||||||||||||||
| ||||||||||||||||||||
JPY | 306,213,326 | USD | 2,283,987 | Bank of America N.A. | 02/16/23 | $ | 72,983 | |||||||||||||
INR | 224,899,589 | USD | 2,711,103 | Citibank N.A. | 03/15/23 | 31,245 | ||||||||||||||
|
| |||||||||||||||||||
104,228 | ||||||||||||||||||||
|
| |||||||||||||||||||
USD | 4,069,285 | EUR | 3,806,465 | JPMorgan Chase Bank N.A. | 02/16/23 | (72,814 | ) | |||||||||||||
HKD | 10,484,276 | USD | 1,347,153 | JPMorgan Chase Bank N.A. | 03/15/23 | (7,305 | ) | |||||||||||||
|
| |||||||||||||||||||
(80,119 | ) | |||||||||||||||||||
|
| |||||||||||||||||||
$ | 24,109 | |||||||||||||||||||
|
|
OTC Total Return Swaps
Reference Entity | Payment Frequency | Counterparty(a) | Termination Date | Net Notional | Accrued (Depreciation) | Net Value of Reference Entity | Gross Notional Amount Net Asset Percentage | |||||||||||||||||
Equity Securities Long/Short | Monthly | Citibank N.A.(b) | 02/24/23 – 08/12/25 | $ | (3,043,061 | ) | $ | (152,415 | )(c) | $ | (3,195,474 | ) | 14.7 | % | ||||||||||
Monthly | JPMorgan Chase Bank N.A.(d) | 02/08/23 | (4,605,233 | ) | (483,948 | )(e) | (5,089,182 | ) | 14.0 | |||||||||||||||
|
|
|
| |||||||||||||||||||||
$ | (636,363 | ) | $ | (8,284,656 | ) | |||||||||||||||||||
|
|
|
|
(a) | The Fund receives the total return on a portfolio of long positions underlying the total return swap. The Fund 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. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. |
(c) | Amount includes $12,824 of net dividends and financing fees. |
(e) | Amount includes $(12,384) of net dividends and financing fees. |
The following are the specified benchmarks (plus or minus a range) used in determining the variable rate of interest:
(b) | (d) | |||
Range: | 15-232 basis points | 15-107 basis points | ||
Benchmarks: | USD - 1D Overnight Bank Funding Rate (OBFR01) | USD - 1D Overnight Bank Funding Rate (OBFR01) |
The following table represents the individual long and short positions and related values of the equity securities underlying the total return swap with Citibank N.A. as of period end, termination dates on February 24, 2023, June 5, 2025, June 26, 2025, July 3, 2025 and August 12, 2025:
Security | Shares | Value | % of Basket Value | |||||||||
Reference Entity — Long | ||||||||||||
Common Stocks | ||||||||||||
Belgium | ||||||||||||
KBC Group NV | 1,512 | $ | 111,990 | (3.5 | )% | |||||||
|
|
|
| |||||||||
Denmark | ||||||||||||
Brenntag SE | 1,850 | 138,099 | (4.3 | ) | ||||||||
Coloplast A/S, Class B | 2,056 | 248,230 | (7.8 | ) | ||||||||
Nemetschek SE | 1,008 | 53,892 | (1.7 | ) | ||||||||
Novozymes A/S | 4,187 | 217,877 | (6.8 | ) | ||||||||
Orsted A/S | 2,552 | 227,261 | (7.1 | ) | ||||||||
|
|
|
| |||||||||
885,359 |
Security | Shares | Value | % of Basket Value | |||||||||
Finland | ||||||||||||
Kesko OYJ, B Shares | 5,119 | $ | 119,239 | (3.7 | )% | |||||||
France | ||||||||||||
Carrefour SA | 8,198 | 155,934 | (4.9 | ) | ||||||||
Dassault Systemes SE | 6,386 | 237,501 | (7.4 | ) | ||||||||
Teleperformance | 588 | 163,456 | (5.1 | ) | ||||||||
|
|
|
| |||||||||
556,891 | ||||||||||||
Germany | ||||||||||||
Scout24 SE | 4,907 | 285,676 | (8.9 | ) | ||||||||
|
|
|
| |||||||||
Italy | ||||||||||||
Snam SpA | 94,314 | 480,391 | (15.0 | ) | ||||||||
|
|
|
| |||||||||
Netherlands | ||||||||||||
ASML Holding NV | 130 | 86,014 | (2.7 | ) | ||||||||
EXOR NV | 1,077 | 85,609 | (2.7 | ) | ||||||||
Heineken Holding NV | 3,279 | 270,734 | (8.5 | ) | ||||||||
|
|
|
| |||||||||
442,357 |
5 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2023 | BlackRock GA Disciplined Volatility Equity Fund |
Security | Shares | Value | % of Basket Value | |||||||||
Sweden | ||||||||||||
Telia Co. AB | 199,938 | $ | 516,368 | (16.2 | )% | |||||||
Switzerland | ||||||||||||
Coca-Cola HBC AG | 4,118 | 100,073 | (3.2 | ) | ||||||||
Kuehne & Nagel International AG, Registered Shares | 992 | 236,549 | (7.4 | ) | ||||||||
Novartis AG, Registered Shares | 4,948 | 447,344 | (14.0 | ) | ||||||||
Swisscom AG, Registered Shares | 1,191 | 703,709 | (22.0 | ) | ||||||||
|
|
|
| |||||||||
1,487,675 | ||||||||||||
United States | ||||||||||||
Haleon PLC | 80,560 | 322,834 | (10.1 | ) | ||||||||
|
|
|
| |||||||||
Preferred Stocks | ||||||||||||
Denmark | ||||||||||||
Dr Ing hc F Porsche AG | 4,561 | 542,297 | (17.0 | ) | ||||||||
|
|
|
| |||||||||
Total Reference Entity — Long | 5,751,077 | |||||||||||
|
| |||||||||||
Reference Entity — Short | ||||||||||||
Common Stocks | ||||||||||||
Brazil | ||||||||||||
Cosan SA | (16,639 | ) | (54,739 | ) | 1.7 | |||||||
Equatorial Energia SA | (50,675 | ) | (279,714 | ) | 8.7 | |||||||
Hapvida Participacoes e Investimentos S/A | (326,212 | ) | (330,948 | ) | 10.4 | |||||||
|
|
|
| |||||||||
(665,401 | ) | |||||||||||
China | ||||||||||||
China Traditional Chinese Medicine Holdings Co. Ltd. | (204,000 | ) | (97,739 | ) | 3.1 | |||||||
Innovent Biologics Inc. | (11,500 | ) | (62,634 | ) | 2.0 | |||||||
Longfor Group Holdings Ltd. | (21,000 | ) | (69,386 | ) | 2.2 | |||||||
Zhaojin Mining Industry Co.Ltd, Class H | (173,500 | ) | (199,666 | ) | 6.2 | |||||||
ZhongAn Online P&C Insurance Co. Ltd., Class H | (104,000 | ) | (346,626 | ) | 10.8 | |||||||
Zhuzhou CRRC Times Electric Co., Ltd. | (5,100 | ) | (27,169 | ) | 0.8 | |||||||
|
|
|
| |||||||||
(803,220 | ) | |||||||||||
Denmark | ||||||||||||
LEG Immobilien SE | (1,725 | ) | (134,850 | ) | 4.2 | |||||||
ROCKWOOL A/S, B Shares | (727 | ) | (208,440 | ) | 6.5 | |||||||
Sartorius AG | (357 | ) | (160,083 | ) | 5.0 | |||||||
Vestas Wind Systems A/S | (6,619 | ) | (193,683 | ) | 6.1 | |||||||
Zalando SE | (2,059 | ) | (96,021 | ) | 3.0 | |||||||
|
|
|
| |||||||||
(793,077 | ) | |||||||||||
France | ||||||||||||
Alstom SA | (4,592 | ) | (136,544 | ) | 4.3 | |||||||
|
|
|
| |||||||||
Germany | ||||||||||||
Siemens Healthineers AG | (6,051 | ) | (324,507 | ) | 10.2 | |||||||
|
|
|
| |||||||||
Hong Kong | ||||||||||||
Swire Pacific Ltd., Class A | (10,000 | ) | (91,639 | ) | 2.9 | |||||||
|
|
|
| |||||||||
Japan | ||||||||||||
Hikari Tsushin, Inc. | (1,400 | ) | (199,834 | ) | 6.3 | |||||||
Makita Corp. | (2,800 | ) | (74,583 | ) | 2.3 | |||||||
|
|
|
| |||||||||
(274,417 | ) | |||||||||||
Mexico | ||||||||||||
Grupo Financiero Inbursa SAB de CV, Class O | (127,950 | ) | (275,190 | ) | 8.6 | |||||||
|
|
|
| |||||||||
Morocco | ||||||||||||
Sands China Ltd. | (35,600 | ) | (133,503 | ) | 4.2 | |||||||
|
|
|
| |||||||||
Netherlands | ||||||||||||
ASM International NV | (256 | ) | (86,581 | ) | 2.7 | |||||||
|
|
|
|
Security | Shares | Value | % of Basket Value | |||||||||
Norway | ||||||||||||
Adevinta ASA | (27,158 | ) | $ | (232,821 | ) | 7.3 | % | |||||
Aker Bp ASA | (14,194 | ) | (432,374 | ) | 13.5 | |||||||
|
|
|
| |||||||||
(665,195) | ||||||||||||
Poland | ||||||||||||
KGHM Polska Miedz SA | (4,188 | ) | (136,919 | ) | 4.3 | |||||||
|
|
|
| |||||||||
Singapore | ||||||||||||
Grab Holdings Ltd., Class A | (29,898 | ) | (113,313 | ) | 3.5 | |||||||
|
|
|
| |||||||||
South Korea | ||||||||||||
Hanwha Solutions Corp. | (2,811 | ) | (104,174 | ) | 3.3 | |||||||
|
|
|
| |||||||||
Spain | ||||||||||||
CaixaBank SA | (44,090 | ) | (195,625 | ) | 6.1 | |||||||
|
|
|
| |||||||||
Sweden | ||||||||||||
Fastighets AB Balder, Class B | (98,200 | ) | (505,950 | ) | 15.8 | |||||||
|
|
|
| |||||||||
Switzerland | ||||||||||||
Bachem Holding AG | (2,632 | ) | (232,758 | ) | 7.3 | |||||||
|
|
|
| |||||||||
United Kingdom | ||||||||||||
Clarivate PLC | (7,463 | ) | (82,989 | ) | 2.6 | |||||||
|
|
|
| |||||||||
United States | ||||||||||||
Advanced Micro Devices, Inc. | (3,342 | ) | (251,151 | ) | 7.9 | |||||||
Affirm Holdings, Inc. | (13,441 | ) | (217,610 | ) | 6.8 | |||||||
Burlington Stores, Inc. | (696 | ) | (159,962 | ) | 5.0 | |||||||
Charles River Laboratories International, Inc. | (1,058 | ) | (257,358 | ) | 8.1 | |||||||
Coinbase Global, Inc., Class A | (6,998 | ) | (409,243 | ) | 12.8 | |||||||
Ford Motor Co. | (28,869 | ) | (390,020 | ) | 12.2 | |||||||
Match Group, Inc. | (1,555 | ) | (84,157 | ) | 2.6 | |||||||
Plug Power, Inc. | (18,675 | ) | (317,848 | ) | 10.0 | |||||||
ROBLOX Corp., Class A | (6,690 | ) | (248,935 | ) | 7.8 | |||||||
STERIS PLC | (501 | ) | (103,461 | ) | 3.2 | |||||||
SVB Financial Group | (288 | ) | (87,103 | ) | 2.7 | |||||||
Take-Two Interactive Software, Inc. | (3,500 | ) | (396,305 | ) | 12.4 | |||||||
Texas Pacific Land Corp. | (67 | ) | (133,722 | ) | 4.2 | |||||||
Uber Technologies, Inc. | (5,263 | ) | (162,785 | ) | 5.1 | |||||||
Wolfspeed, Inc. | (1,375 | ) | (105,889 | ) | 3.3 | |||||||
|
|
|
| |||||||||
(3,325,549) | ||||||||||||
|
| |||||||||||
Total Reference Entity — Short |
| (8,946,551 | ) | |||||||||
|
| |||||||||||
Net Value of Reference Entity — Citibank N.A |
| $ | (3,195,474 | ) | ||||||||
|
|
SCHEDULE OF INVESTMENTS | 6 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2023 | BlackRock GA Disciplined Volatility Equity Fund |
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 period end, termination date on February 8, 2023:
Security | Shares | Value | % of Basket Value | |||||||||
Reference Entity — Long | ||||||||||||
Common Stocks | ||||||||||||
Australia | ||||||||||||
Medibank Private Ltd. | 163,655 | $ | 340,941 | (6.7 | )% | |||||||
|
|
|
| |||||||||
France | ||||||||||||
Hermes International | 64 | 119,777 | (2.4 | ) | ||||||||
Kering SA | 346 | 215,889 | (4.2 | ) | ||||||||
La Francaise des Jeux SAEM | 4,504 | 192,717 | (3.8 | ) | ||||||||
Ubisoft Entertainment SA | 8,711 | 180,375 | (3.5 | ) | ||||||||
|
|
|
| |||||||||
708,758 | ||||||||||||
Germany | ||||||||||||
United Internet AG, Registered Shares | 7,004 | 162,607 | (3.2 | ) | ||||||||
|
|
|
| |||||||||
Italy | ||||||||||||
FinecoBank Banca Fineco SpA | 4,668 | 83,799 | (1.7 | ) | ||||||||
|
|
|
| |||||||||
Netherlands | ||||||||||||
Adyen NV | 190 | 287,262 | (5.6 | ) | ||||||||
Koninklijke Ahold Delhaize NV | 27,897 | 832,641 | (16.4 | ) | ||||||||
|
|
|
| |||||||||
1,119,903 | ||||||||||||
Norway | ||||||||||||
Orkla ASA | 16,242 | 121,258 | (2.4 | ) | ||||||||
Telenor ASA | 26,061 | 272,823 | (5.3 | ) | ||||||||
|
|
|
| |||||||||
394,081 | ||||||||||||
Poland | ||||||||||||
Santander Bank Polska SA | 1,035 | 68,809 | (1.4 | ) | ||||||||
|
|
|
| |||||||||
Spain | ||||||||||||
Industria de Diseno Textil SA | 8,664 | 270,497 | (5.3 | ) | ||||||||
|
|
|
| |||||||||
Switzerland | ||||||||||||
Roche Holding AG | 4,202 | 1,311,740 | (25.8 | ) | ||||||||
Roche Holding AG | 205 | 75,038 | (1.5 | ) | ||||||||
|
|
|
| |||||||||
1,386,778 | ||||||||||||
United Kingdom | ||||||||||||
Admiral Group PLC | 3,406 | 92,593 | (1.8 | ) | ||||||||
|
|
|
| |||||||||
Total Reference Entity — Long | 4,628,766 | |||||||||||
|
| |||||||||||
Reference Entity — Short | ||||||||||||
Common Stocks | ||||||||||||
Australia | ||||||||||||
Pilbara Minerals Ltd. | (53,945 | ) | (183,516 | ) | 3.6 | |||||||
|
|
|
| |||||||||
Brazil | ||||||||||||
Localiza Rent a Car SA | (6,933 | ) | (80,867 | ) | 1.6 | |||||||
Petro Rio SA | (7,430 | ) | (61,620 | ) | 1.2 | |||||||
|
|
|
| |||||||||
(142,487 | ) | |||||||||||
Canada | ||||||||||||
Shaw Communications, Inc., Class B | (7,745 | ) | (230,508 | ) | 4.5 | |||||||
|
|
|
| |||||||||
China | ||||||||||||
Bilibili, Inc., Class Z | (1,920 | ) | (47,917 | ) | 0.9 | |||||||
China Gas Holdings Ltd. | (95,200 | ) | (148,209 | ) | 2.9 | |||||||
Chinasoft International Ltd. | (86,000 | ) | (75,609 | ) | 1.5 | |||||||
Dongyue Group Ltd. | (117,000 | ) | (140,069 | ) | 2.8 |
Security | Shares | Value | % of Basket Value | |||||||||
China (continued) | ||||||||||||
Microport Scientific Corp. | (144,600 | ) | $ | (453,729 | ) | 8.9 | % | |||||
Tongcheng Travel Holdings Ltd. | (52,000 | ) | (117,822 | ) | 2.3 | |||||||
Xiaomi Corp., Class B | (355,200 | ) | (587,589 | ) | 11.6 | |||||||
Xtep International Holdings Ltd. | (153,000 | ) | (204,004 | ) | 4.0 | |||||||
Yuexiu Property Co. Ltd. | (74,000 | ) | (107,649 | ) | 2.1 | |||||||
Zhuzhou CRRC Times Electric Co., Ltd. | (34,400 | ) | (183,261 | ) | 3.6 | |||||||
|
|
|
| |||||||||
(2,065,858 | ) | |||||||||||
Germany | ||||||||||||
Covestro AG | (8,897 | ) | (409,658 | ) | 8.1 | |||||||
Delivery Hero SE | (1,859 | ) | (112,389 | ) | 2.2 | |||||||
|
|
|
| |||||||||
(522,047 | ) | |||||||||||
Hong Kong | ||||||||||||
Nine Dragons Paper Holdings Ltd. | (349,000 | ) | (312,863 | ) | 6.1 | |||||||
Techtronic Industries Co. Ltd. | (5,000 | ) | (64,459 | ) | 1.3 | |||||||
|
|
|
| |||||||||
(377,322 | ) | |||||||||||
Ireland | ||||||||||||
AerCap Holdings NV | (9,514 | ) | (601,380 | ) | 11.8 | |||||||
|
|
|
| |||||||||
Italy | ||||||||||||
Telecom Italia SpA | (995,778 | ) | (286,692 | ) | 5.7 | |||||||
|
|
|
| |||||||||
Japan | ||||||||||||
Lasertec Corp. | (1,500 | ) | (283,984 | ) | 5.6 | |||||||
|
|
|
| |||||||||
Netherlands | ||||||||||||
Just Eat Takeaway.com NV | (6,100 | ) | (156,487 | ) | 3.1 | |||||||
|
|
|
| |||||||||
South Korea | ||||||||||||
HYBE Co. Ltd. | (687 | ) | (108,088 | ) | 2.1 | |||||||
Iljin Materials Co., Ltd. | (3,227 | ) | (165,933 | ) | 3.3 | |||||||
Kakao Corp. | (8,618 | ) | (433,807 | ) | 8.5 | |||||||
NCSoft Corp. | (656 | ) | (242,806 | ) | 4.8 | |||||||
Posco Chemical Co., Ltd. | (653 | ) | (119,694 | ) | 2.3 | |||||||
|
|
|
| |||||||||
(1,070,328 | ) | |||||||||||
Sweden | ||||||||||||
Securitas AB, B Shares | (26,382 | ) | (241,489 | ) | 4.8 | |||||||
|
|
|
| |||||||||
Switzerland | ||||||||||||
Credit Suisse Group AG, Registered Shares | (82,857 | ) | (285,432 | ) | 5.6 | |||||||
|
|
|
| |||||||||
United Kingdom | ||||||||||||
Ocado Group PLC | (40,265 | ) | (322,216 | ) | 6.3 | |||||||
|
|
|
| |||||||||
United States | ||||||||||||
Block, Inc. | (3,954 | ) | (323,121 | ) | 6.3 | |||||||
Catalent, Inc. | (2,035 | ) | (108,974 | ) | 2.1 | |||||||
Cleveland-Cliffs, Inc. | (3,807 | ) | (81,279 | ) | 1.6 | |||||||
DISH Network Corp., Class A | (18,727 | ) | (269,482 | ) | 5.3 | |||||||
Dr Horton Inc. | (2,091 | ) | (206,361 | ) | 4.1 | |||||||
Illumina, Inc. | (608 | ) | (130,234 | ) | 2.6 | |||||||
Iron Mountain, Inc. | (1,914 | ) | (104,466 | ) | 2.1 | |||||||
KKR & Co., Inc. | (2,684 | ) | (149,794 | ) | 2.9 | |||||||
Novocure Ltd. | (2,350 | ) | (214,273 | ) | 4.2 | |||||||
Oracle Corp. | (2,313 | ) | (204,608 | ) | 4.0 | |||||||
Paramount Global, Class B | (8,716 | ) | (201,863 | ) | 4.0 | |||||||
PulteGroup, Inc. | (1,628 | ) | (92,617 | ) | 1.8 | |||||||
Rivian Automotive, Inc., Class A | (12,373 | ) | (240,036 | ) | 4.7 | |||||||
Roku, Inc. | (6,409 | ) | (368,518 | ) | 7.2 |
7 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2023 | BlackRock GA Disciplined Volatility Equity Fund |
Security | Shares | Value | %of Basket Value | |||||||||
United States (continued) | ||||||||||||
Target Corp. | (609 | ) | $ | (104,833 | ) | 2.1 | % | |||||
Teledyne Technologies, Inc. | (348 | ) | (147,642 | ) | 2.9 | |||||||
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| |||||||||
(2,948,101 | ) | |||||||||||
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(9,717,847 | ) | |||||||||||
Rights | ||||||||||||
Brazil | ||||||||||||
Localiza Rent a Car SA | (30 | ) | (101 | ) | 0.0 | |||||||
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| |||||||||
Total Reference Entity — Short |
| (9,717,948 | ) | |||||||||
|
| |||||||||||
Net Value of Reference Entity — JPMorgan Chase Bank N.A. |
| $ | (5,089,182 | ) | ||||||||
|
|
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.
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Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| ||||||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Common Stocks | ||||||||||||||||
Argentina | $ | 116,987 | $ | — | $ | — | $ | 116,987 | ||||||||
Brazil | 796,028 | — | — | 796,028 | ||||||||||||
Canada | 2,888,585 | — | — | 2,888,585 | ||||||||||||
China | — | 8,781,712 | — | 8,781,712 | ||||||||||||
Denmark | — | 928,042 | — | 928,042 | ||||||||||||
Finland | — | 57,645 | — | 57,645 | ||||||||||||
France | — | 3,025,968 | — | 3,025,968 | ||||||||||||
Germany | — | 418,541 | — | 418,541 | ||||||||||||
Hong Kong | — | 1,907,485 | — | 1,907,485 | ||||||||||||
India | — | 2,671,582 | — | 2,671,582 | ||||||||||||
Indonesia | — | 28,382 | — | 28,382 | ||||||||||||
Ireland | 466,314 | 306,659 | — | 772,973 | ||||||||||||
Italy | — | 758,898 | — | 758,898 | ||||||||||||
Japan | — | 7,246,344 | — | 7,246,344 | ||||||||||||
Mexico | 657,077 | — | — | 657,077 | ||||||||||||
Netherlands | — | 1,249,853 | — | 1,249,853 |
SCHEDULE OF INVESTMENTS | 8 |
Consolidated Schedule of Investments (unaudited) (continued) January 31, 2023 | BlackRock GA Disciplined Volatility Equity Fund |
Fair Value Hierarchy as of Period End (continued)
| ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| ||||||||||||||||
Common Stocks (continued) | ||||||||||||||||
Saudi Arabia | $ | — | $ | 856,426 | $ | — | $ | 856,426 | ||||||||
Singapore | — | 1,144,432 | — | 1,144,432 | ||||||||||||
South Africa | 89,611 | 453,007 | — | 542,618 | ||||||||||||
South Korea | — | 1,095,177 | — | 1,095,177 | ||||||||||||
Sweden | — | 982,168 | — | 982,168 | ||||||||||||
Switzerland | — | 1,565,568 | — | 1,565,568 | ||||||||||||
Taiwan | — | 3,252,458 | — | 3,252,458 | ||||||||||||
United Kingdom | 504,082 | 1,166,664 | — | 1,670,746 | ||||||||||||
United States | 54,237,964 | — | — | 54,237,964 | ||||||||||||
Preferred Securities | ||||||||||||||||
Preferred Stocks | 194,028 | — | — | 194,028 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 5,604 | — | — | 5,604 | ||||||||||||
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$ | 59,956,280 | $ | 37,897,011 | $ | — | $ | 97,853,291 | |||||||||
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Derivative Financial Instruments(a) | ||||||||||||||||
Assets | ||||||||||||||||
Foreign Currency Exchange Contracts | $ | — | $ | 104,228 | $ | — | $ | 104,228 | ||||||||
Liabilities | ||||||||||||||||
Equity Contracts | (2,115 | ) | (636,363 | ) | — | (638,478 | ) | |||||||||
Foreign Currency Exchange Contracts | — | (80,119 | ) | — | (80,119 | ) | ||||||||||
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| |||||||||
$ | (2,115 | ) | $ | (612,254 | ) | $ | — | $ | (614,369 | ) | ||||||
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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 | ||
EUR | Euro | |
HKD | Hong Kong Dollar | |
INR | Indian Rupee | |
JPY | Japanese Yen | |
USD | United States Dollar |
9 |