Affiliates
Investments
in
issuers
considered
to
be
affiliate(s)
of
the
Fund
during
the period
ended
April
30,
2025
for
purposes
of
Section
2(a)(3)
of
the
Investment
Company
Act
of
1940,
as
amended,
were
as
follows:
Security
Shares
Shares
Value
Software
—
32.7%
Adobe,
Inc.
(a)
(b)
.......................
11,229
$
4,210,651
AppLovin
Corp.
,
Class
A
(a)
...............
1,991
536,196
Atlassian
Corp.
,
Class
A
(a)
...............
15,376
3,510,495
Crowdstrike
Holdings,
Inc.
,
Class
A
(a)
........
472
202,427
Datadog,
Inc.
,
Class
A
(a)
................
14,215
1,452,204
DocuSign,
Inc.
(a)
.....................
28,105
2,297,584
Dynatrace,
Inc.
(a)
.....................
57,792
2,714,490
Fair
Isaac
Corp.
(a)
.....................
1,078
2,144,875
Fortinet,
Inc.
(a)
.......................
64,439
6,686,191
Gen
Digital,
Inc.
......................
71,922
1,860,622
HubSpot,
Inc.
(a)
(b)
.....................
1,008
616,392
Intuit,
Inc.
..........................
4
2,510
Microsoft
Corp.
......................
49,990
19,759,047
MicroStrategy,
Inc.
,
Class
A
(a)
(b)
............
6,556
2,492,001
Oracle
Corp.
........................
82,647
11,630,086
Palantir
Technologies,
Inc.
,
Class
A
(a)
.......
318,946
37,775,964
Palo
Alto
Networks,
Inc.
(a)
...............
46,338
8,661,962
Salesforce,
Inc.
......................
81,797
21,979,672
ServiceNow,
Inc.
(a)
....................
7,041
6,724,225
Synopsys,
Inc.
(a)
.....................
16,891
7,753,138
Tyler
Technologies,
Inc.
(a)
...............
1,028
558,512
Workday,
Inc.
,
Class
A
(a)
................
2,260
553,700
144,122,944
Specialized
REITs
—
1.8%
Digital
Realty
Trust,
Inc.
................
10,610
1,703,329
Equinix,
Inc.
........................
6,717
5,781,658
Iron
Mountain,
Inc.
....................
5,350
479,735
7,964,722
Specialty
Retail
—
0.1%
Carvana
Co.
,
Class
A
(a)
(b)
................
1,145
279,781
Security
Shares
Shares
Value
Technology
Hardware,
Storage
&
Peripherals
—
3.7%
Apple,
Inc.
.........................
68,403
$
14,535,637
NetApp,
Inc.
........................
19,561
1,755,600
Pure
Storage,
Inc.
,
Class
A
(a)
.............
208
9,435
Super
Micro
Computer,
Inc.
(a)
.............
619
19,721
16,320,393
Total
Long-Term
Investments
—
99
.7
%
(Cost:
$
401,834,466
)
..............................
439,388,922
Short-Term
Securities
Money
Market
Funds
—
1.9%
(c)(d)
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
,
4.46
%
(e)
...................
6,885,798
6,888,553
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
,
4.30
%
....................
1,255,328
1,255,328
Total
Short-Term
Securities
—
1
.9
%
(Cost:
$
8,143,741
)
...............................
8,143,881
Total
Investments
—
101
.6
%
(Cost:
$
409,978,207
)
..............................
447,532,803
Liabilities
in
Excess
of
Other
Assets
—
(
1.6
)
%
.............
(
6,860,545
)
Net
Assets
—
100.0%
...............................
$
440,672,258
(a)
Non-income
producing
security.
(b)
All
or
a
portion
of
this
security
is
on
loan.
(c)
Affiliate
of
the
Fund.
(d)
Annualized
7-day
yield
as
of
period
end.
(e)
All
or
a
portion
of
this
security
was
purchased
with
the
cash
collateral
from
loaned
securities.
Affiliated
Issuer
Value
at
07/31/24
Purchases
at
Cost
Proceeds
from
Sales
Net
Realized
Gain
(Loss)
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
04/30/25
Shares
Held
at
04/30/25
Income
Capital
Gain
Distributions
from
Underlying
Funds
BlackRock
Cash
Funds:
Institutional,
SL
Agency
Shares
..............
$
2,239,349
$
4,649,620
(a)
$
—
$
(
386
)
$
(
30
)
$
6,888,553
6,885,798
$
3,675
(b)
$
—
BlackRock
Cash
Funds:
Treasury,
SL
Agency
Shares
1,312,980
—
(
57,652
)
(a)
—
—
1,255,328
1,255,328
40,671
—
$
(
386
)
$
(
30
)
$
8,143,881
$
44,346
$
—
—
—
(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
collateral
investment
fees,
and
other
payments
to
and
from
borrowers
of
securities.