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        <name>Samsung Electronics Co Ltd.</name>
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        <name>The Campbells Co.</name>
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        <name>Ralliant Corp.</name>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
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        <name>Middleby Corp.</name>
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        <name>Pepsico Inc</name>
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        <name>MIZUHO SECURITIES USA LLC</name>
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        <name>CIBC WORLD MARKETS CORP.</name>
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        <name>Gallagher Aj &amp;Co</name>
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        <name>Amazon.com, Inc.</name>
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        <name>Sodexo S.A.</name>
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        <name>Fortune Brands Innovations Inc</name>
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        <name>L3 Harris Technologies Inc</name>
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        <name>Wesco International, Inc.</name>
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        <name>EQT Corporation</name>
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        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co. COM</title>
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        <name>TD SECURITIES (USA) LLC</name>
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        <name>STAG Industrial, Inc.</name>
        <lei>549300QWYX2W6FASVQ07</lei>
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        <name>Citizens Financial Group Inc</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>UBS SECURITIES LLC</name>
        <lei>T6FIZBDPKLYJKFCRVK44</lei>
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        <name>CIBC WORLD MARKETS CORP.</name>
        <lei>549300445CON3DBMU275</lei>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
        <lei>RCNB6OTYUAMMP879YW96</lei>
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        <name>NVIDIA Corp.</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA Corp. COM</title>
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        <name>Becton, Dickinson and Company</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
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        <name>Meta Platforms Inc</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms Inc CL A</title>
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        <name>CDW Corp</name>
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        <name>The Charles Schwab Corporation</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>The Charles Schwab Corporation COM</title>
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        <name>Flagstar Bank National Association</name>
        <lei>SS1TRMSN6BRNMOREEV51</lei>
        <title>Flagstar Bank National Association COM NEW</title>
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        <name>Teck Resources Limited</name>
        <lei>T8KI5SQ2JRWHL7XY0E11</lei>
        <title>Teck Resources Limited CL B</title>
        <cusip>878742204</cusip>
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        <name>RBC CAPITAL MARKETS, LLC</name>
        <lei>549300LCO2FLSSVFFR64</lei>
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        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc. COM NEW</title>
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        <name>MORGAN STANLEY &amp; CO. LLC</name>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>NOMURA SECURITIES INTERNATIONAL INC (VOYA FINANCIAL INC) 25.83 03/12/2026 (VOYA US)</title>
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        <invCountry>JP</invCountry>

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        <name>BARCLAYS CAPITAL INC.</name>
        <lei>AC28XWWI3WIBK2824319</lei>
        <title>BARCLAYS CAPITAL INC. (MICROSOFT CORP) 24.03 04/06/2026 (MSFT US)</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>Rentokil Initial PLC</name>
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        <name>BARCLAYS CAPITAL INC.</name>
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        <lei>K9G90K85RBWD2LAGQX17</lei>
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        <lei>AC28XWWI3WIBK2824319</lei>
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        <name>CITIGROUP GLOBAL MARKETS INC.</name>
        <lei>MBNUM2BPBDO7JBLYG310</lei>
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        <name>Shell PLC</name>
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        <name>Cardinal Health, Inc.</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
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        <name>MIZUHO SECURITIES USA LLC</name>
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        <name>The Kraft Heinz Co.</name>
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        <lei>OXTKY6Q8X53C9ILVV871</lei>
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        <title>Evergy Inc COM</title>
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        <lei>OXTKY6Q8X53C9ILVV871</lei>
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        <name>UBS SECURITIES LLC</name>
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        <name>Baxter International, Inc.</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
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        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
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        <name>Crown Holdings Inc</name>
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        <name>Home Depot Inc.</name>
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        <name>British American Tobacco PLC</name>
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        <name>Dollar General Corporation</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
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        <name>Comcast Corporation</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
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        <name>Intercontinental Exchange Inc</name>
        <lei>5493000F4ZO33MV32P92</lei>
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        <name>RBC CAPITAL MARKETS, LLC</name>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <name>Rexford Industrial Realty Inc.</name>
        <lei>549300MSLO0DF0EMX355</lei>
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        <name>TD SECURITIES (USA) LLC</name>
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        <name>PPG Industries, Inc.</name>
        <lei>549300BKPEP01R3V6C59</lei>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
        <lei>RCNB6OTYUAMMP879YW96</lei>
        <title>BNP PARIBAS SECURITIES CORPORATION (CITIZENS FINANCIAL GROUP INC) 24.04 03/05/2026 (CFG US)</title>
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        <name>CIBC WORLD MARKETS CORP.</name>
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        <name>Merck &amp; Co., Inc</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
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        <name>CNH INDUSTRIAL NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH Industrial N.V. COM EUR0.01</title>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>Union Pacific Corporation</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corporation COM</title>
        <cusip>907818108</cusip>
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        <lei>7QEON6Y1RL5XR3R1W237</lei>
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        <lei>3BNYRYQHD39K4LCKQF12</lei>
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        <name>BARCLAYS CAPITAL INC.</name>
        <lei>AC28XWWI3WIBK2824319</lei>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
        <lei>RCNB6OTYUAMMP879YW96</lei>
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        <name>MIZUHO SECURITIES USA LLC</name>
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        <name>Airbus SE</name>
        <lei>MINO79WLOO247M1IL051</lei>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy Inc COM</title>
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        <lei>549300T065Z4KJ686G75</lei>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Keurig Dr Pepper Inc</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper Inc COM</title>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
        <lei>RCNB6OTYUAMMP879YW96</lei>
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        <name>RBC CAPITAL MARKETS, LLC</name>
        <lei>549300LCO2FLSSVFFR64</lei>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
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        <lei>6WQI0GK1PRFVBA061U48</lei>
        <title>Fidelity National Information Services Inc COM</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>BARCLAYS CAPITAL INC.</name>
        <lei>AC28XWWI3WIBK2824319</lei>
        <title>BARCLAYS CAPITAL INC. (BRITISH AMERICAN TOBACCO PLC) 24.01 04/16/2026 (BATS LN)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BYDZEADU6"/>
        </identifiers>
        <balance>152900.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74203242"/>
        <valUSD>9389957.57000000</valUSD>
        <pctVal>0.450155308977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>24.01000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <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"/>


    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-24</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>
