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                    <othIndName>TELEFLEX INC</othIndName>
                    <identifiers>
                      <cusip value="879369106"/>
                    </identifiers>
                    <othIndNotAmt>-53.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-6699.73000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>TRANE TECHNOLOGIES PLC</othIndName>
                    <identifiers>
                      <cusip value="000000000"/>
                    </identifiers>
                    <othIndNotAmt>351.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>145875.60000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>TRANSDIGM GROUP INC</othIndName>
                    <identifiers>
                      <cusip value="893641100"/>
                    </identifiers>
                    <othIndNotAmt>42.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>58752.96000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>TRANSMEDICS GROUP INC</othIndName>
                    <identifiers>
                      <cusip value="89377M109"/>
                    </identifiers>
                    <othIndNotAmt>-476.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-54720.96000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>TREX CO INC</othIndName>
                    <identifiers>
                      <cusip value="89531P105"/>
                    </identifiers>
                    <othIndNotAmt>-45.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-2773.35000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>UL SOLUTIONS INC</othIndName>
                    <identifiers>
                      <cusip value="903731107"/>
                    </identifiers>
                    <othIndNotAmt>-55.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-3474.35000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>UNION PACIFIC CORP</othIndName>
                    <identifiers>
                      <cusip value="907818108"/>
                    </identifiers>
                    <othIndNotAmt>79.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>17662.03000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>UNITED RENTALS INC</othIndName>
                    <identifiers>
                      <cusip value="911363109"/>
                    </identifiers>
                    <othIndNotAmt>32.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>30602.88000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>UNIVERSAL HEALTH SERVICES INC</othIndName>
                    <identifiers>
                      <cusip value="913903100"/>
                    </identifiers>
                    <othIndNotAmt>-208.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-37768.64000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>VEEVA SYSTEMS INC</othIndName>
                    <identifiers>
                      <cusip value="922475108"/>
                    </identifiers>
                    <othIndNotAmt>47.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>12652.40000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>VERIZON COMMUNICATIONS INC</othIndName>
                    <identifiers>
                      <cusip value="92343V104"/>
                    </identifiers>
                    <othIndNotAmt>718.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>31757.14000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>VIATRIS INC</othIndName>
                    <identifiers>
                      <cusip value="92556V106"/>
                    </identifiers>
                    <othIndNotAmt>-3859.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-40712.45000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>VISA INC</othIndName>
                    <identifiers>
                      <cusip value="92826C839"/>
                    </identifiers>
                    <othIndNotAmt>131.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>46083.18000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>VOYA FINANCIAL INC</othIndName>
                    <identifiers>
                      <cusip value="929089100"/>
                    </identifiers>
                    <othIndNotAmt>203.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>15243.27000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>WASTE MANAGEMENT INC</othIndName>
                    <identifiers>
                      <cusip value="94106L109"/>
                    </identifiers>
                    <othIndNotAmt>-261.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-59087.79000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>WEYERHAEUSER CO</othIndName>
                    <identifiers>
                      <cusip value="962166104"/>
                    </identifiers>
                    <othIndNotAmt>-80.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-2069.60000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>WILLSCOT HOLDINGS CORP</othIndName>
                    <identifiers>
                      <cusip value="971378104"/>
                    </identifiers>
                    <othIndNotAmt>169.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>4096.56000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>ZIMMER BIOMET HOLDINGS INC</othIndName>
                    <identifiers>
                      <cusip value="98956P102"/>
                    </identifiers>
                    <othIndNotAmt>-635.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>-67373.50000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>ZOETIS INC</othIndName>
                    <identifiers>
                      <cusip value="98978V103"/>
                    </identifiers>
                    <othIndNotAmt>357.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>55834.80000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                </components>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Default Event</otherRecDesc>
            <otherPmntDesc fixedOrFloating="Other">CFD EQUITY BASKET</otherPmntDesc>
            <terminationDt>2026-02-28</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1506955.99000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-13318.34000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chime Financial Inc</name>
        <lei>N/A</lei>
        <title>Chime Financial Inc</title>
        <cusip>16935C109</cusip>
        <identifiers>
          <isin value="US16935C1099"/>
          <ticker value="CHYM"/>
        </identifiers>
        <balance>1269.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33514.29000000</valUSD>
        <pctVal>0.267963420794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Miami International Holdings I</name>
        <lei>254900TREUDBWGLAP788</lei>
        <title>Miami International Holdings Inc</title>
        <cusip>59356Q108</cusip>
        <identifiers>
          <isin value="US59356Q1085"/>
          <ticker value="MIAX"/>
        </identifiers>
        <balance>262.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9845.96000000</valUSD>
        <pctVal>0.078723348237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Accelerant Holdings</name>
        <lei>213800VS4CX9ZONTD965</lei>
        <title>Accelerant Holdings</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG008941083"/>
          <ticker value="ARX"/>
          <other otherDesc="SEDOL" value="BVPDLS5"/>
        </identifiers>
        <balance>1330.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26666.50000000</valUSD>
        <pctVal>0.213211933196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MNTN Inc</name>
        <lei>N/A</lei>
        <title>MNTN Inc</title>
        <cusip>55318A108</cusip>
        <identifiers>
          <isin value="US55318A1088"/>
          <ticker value="MNTN"/>
        </identifiers>
        <balance>130.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2653.30000000</valUSD>
        <pctVal>0.021214453428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Firefly Aerospace Inc</name>
        <lei>N/A</lei>
        <title>Firefly Aerospace Inc</title>
        <cusip>31816X106</cusip>
        <identifiers>
          <isin value="US31816X1063"/>
          <ticker value="FLY"/>
        </identifiers>
        <balance>414.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18783.18000000</valUSD>
        <pctVal>0.150180868107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>



      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>

      <explntrNote note="USLSE-MLC (Merrill Lynch International): 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, plus or minus a spread in a range of 0-30 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The following are the specified benchmarks used in determining the variable rate of interest: USD - 1D Overnight Bank Funding Rate (OBFR01)." noteItem="C.11.f.i.1"/>
      <explntrNote note="USLSE-BCC (Barclays Bank PLC): 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, plus or minus a spread in a range of 0-800 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The following are the specified benchmarks used in determining the variable rate of interest: USD - 1D Overnight Bank Funding Rate (OBFR01)." noteItem="C.11.f.i.1"/>
      <explntrNote note="USLSE-GSC (Goldman Sachs Bank USA): 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, plus or minus a spread in a range of 15-771 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The following are the specified benchmarks used in determining the variable rate of interest: USD - 1D Overnight Fed Funds Effective Rate (FEDL01)." noteItem="C.11.f.i.1"/>
      <explntrNote note="USLSE-HSC (HSBC Bank plc): 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, plus or minus a spread in a range of 15-20 basis points. The benchmark and spread are determined based upon the country and/or currency of the individual underlying positions. The following are the specified benchmarks used in determining the variable rate of interest: USD - 1D Overnight Bank Funding Rate (OBFR01)." noteItem="C.11.f.i.1"/>
      <explntrNote note="IBORs are undergoing a change as regulators and industry groups have recommended that firms consider adoption of alternative, overnight risk-free rates (RFRs). Floating rate swap terms reflected as Libors may be using the RFR to calculate the actual rate." noteItem="C.11.f.i.2"/>

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-10-27</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Funds</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
